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EXHIBIT 10.1
May 26, 2020
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Everspin Technologies, Inc.
5670 W. Chandler Blvd., Suite 100
Chandler, Arizona 85226
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Re: Everspin Technologies, Inc. Chief Financial Officer
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Dear Daniel:
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Everspin Technologies, Inc., a Delaware corporation (the "Company"), is pleased to provide this offer to you for the position of Chief Financial Officer ("CFO") on the terms described below.
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1.Position. The position of CFO will report directly to the Company's Chief Executive Officer. Your primary duties will be to direct financial operations and reporting, regulatory activities, and other customary support that a CFO provides, including Information Technology and Human Resources. By signing this letter, you confirm that you are under no contractual or other legal obligations that would prohibit you from performing your duties with the Company upon your specified start date as outlined below. The anticipated start date is July 15, 2020 (the "Start Date").
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		2.	Compensation and Employee Benefits. You will be paid a starting salary at the rate of

$300,000 per year, to be reviewed annually. You will also be eligible for a target annual bonus of 50% of your base salary. Your bonus for 2020 will be pro-rated based on your start date and your payout has a minimum guarantee of one-half the pro-rated amount.
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You will be granted an incentive stock option and RSU pursuant to the Company's 2016 Equity Incentive Plan (the "Plan"). We will recommend to the Board for their approval as soon as possible after your start date that you are granted an incentive stock option exercisable for 50,000 shares (the "Option") and an RSU for 50,000 of stock (the "RSU'). The Option shall vest over four years with 25% vesting on the one-year anniversary of your start date and the remainder vesting monthly thereafter. The exercise price of your Option shall be equal to the fair market value of the Common Stock on the date of grant. The RSU shall vest over four years in four annual tranches of 25% each. In the event of a Change in Control (as defined in your Option and RSU grants) you shall be entitled to twelve months of acceleration upon terms and conditions consistent those granted to the other members of the Company's executive team. The complete terms and conditions of your Option and RSU will be as set forth in the Plan, the stock option agreement and RSU grant notice provided by the Company. Subject to your continued service, you will be eligible for additional equity grants in the future in the Board's discretion.
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You will also be entitled to the benefits applicable to C-Level executives pursuant to the Company's Executive Change in Control Plan (the "CIC Plan"). The complete terms and conditions of your benefits will be as set forth in the CIC Plan and the participation notice provided by the Company.
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As a regular employee of the Company you will also be eligible to participate in a number of Company-sponsored benefits (customarily available to executive employees), which will be provided to you.
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3.Sign-on Bonus. You will receive a sign-on bonus of $30,000, which will be paid during your first pay period after you start. Should you voluntarily vacate your position within a one-year period, you will be required to refund the Company the $30,000 bonus in full.
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		4.	Confidential Information and Invention Assignment Agreement. You will be required, as a condition of your serving as the CFO, to sign the Company's standard confidential information and invention assignment agreement.	

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5.Relationship. The arrangement with the Company is for no specific period of time. Your agreement with the Company will be "at will," meaning that either you or the Company may terminate at any time and for any reason, with or without cause, upon 30 days prior written notice.
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		6.	Withholding Taxes. All forms of compensation referred to in this letter are subject to applicable withholding and payroll taxes.	

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		7.	Entire Agreement. This letter supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding the matters described in this letter.	

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If you wish to accept this offer, please sign and date and return them to me. As required, by law, your agreement with the Company is also contingent upon your providing legal proof of your identity and authorization to work in the United States as well as providing any necessary tax identification documentation the Company may request. This offer, if not accepted, will expire at the close of business on June 15, 2020.
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With the formalities covered, we are thrilled you are joining the team. Very truly yours,
Everspin Technologies, Inc.
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        By:                                          
Name: Kevin Conley
Title: Chief Executive Officer
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ACCEPTED AND AGREED
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By:                                          
Name: Daniel BerenbaumExhibit 10.2
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AMENDMENT NO. 9 TO LEASE
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This AMENDMENT NO. 9 TO LEASE (“Amendment No. 9”), effective as of March 31, 2020, (“Amendment No. 9 Effective Date”) is entered into by and between NXP USA, Inc. (formerly FREESCALE SEMICONDUCTOR, INC.), a Delaware corporation and 100% affiliated company of NXP Semiconductors N.V. (“Landlord”), and EVERSPIN TECHNOLOGIES, INC., a Delaware corporation (“Tenant”), with reference to the following facts:
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A.Landlord and Tenant are parties to that certain Lease dated as of June 5, 2008 (“Original Lease”), as amended by Amendment No. 1 to Lease executed by Tenant on February 2, 2009 (“Amendment No. 1”), Amendment No. 2 to Lease dated March 1, 2010 (“Amendment No. 2”), Amendment No. 3 to Lease dated July 20, 2011 (“Amendment No. 3”), Amendment No. 4 to Lease dated June 10, 2014 (“Amendment No. 4”), Amendment No. 5 dated January 13, 2017 (“Amendment No. 5”), Amendment No. 6 dated October 31, 2017 (“Amendment No. 6”), Amendment No. 7 dated August 2, 2018 (“Amendment No. 7”), and Amendment No. 8 dated November 30, 2019 (“Amendment No. 8”), (the Original Lease, as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5, Amendment No. 6, Amendment No. 7, and Amendment No. 8, is referred to as the “Lease”), pursuant to which Landlord leases to Tenant certain space (“Premises”) located at 1300 North Alma School Road, Chandler Arizona as further described in the Lease.
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B.As of the Amendment No. 9 Effective Date, the parties desire to amend the Lease to extend the Term.
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NOW, THEREFORE, in consideration of the above recitals which are hereby incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree, effective as of the Amendment No. 9 Effective Date, to amend the Lease as follows:
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1.Term. Section 2 of the Lease (as modified by Amendment No. 8) is deleted in its entirety and replaced with the following:
“A. The term of this Lease shall commence on June 5, 2008 (the “Commencement Date”) and end on January 31, 2023 (the “Term”). Tenant will continue processing on Landlord’s tool, FJ01PVS. In the event the Landlord elects to terminate Tenant’s use of the FJ01PVS, the Landlord will give Tenant six (6) months prior written notice.”
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2.Exhibit E. For consideration in part of this Amendment No. 9, Landlord will provide Tenant with discounted Lease Fixed Rent starting February 1, 2021 through the end of the Lease Term. Should the Lease be further extended, the Landlord does not commit to continue the Fixed Rent discount. Exhibit E to the Lease (as modified by Amendment No. 5) is deleted in its entirety and replaced with the new Exhibit E as attached hereto as Schedule 1 to this Amendment No. 9.
3.Exhibit J. Exhibit J to the Lease (as modified by Amendment No. 8) is deleted in its 

entirety and replaced with the new Exhibit J as attached hereto as Schedule 2 to this Amendment No. 9.
4.Brokers. Tenant hereby represents to Landlord that Tenant has dealt with no broker in connection with this Amendment No. 9. Tenant agrees to indemnify and hold Landlord harmless from all claims of any brokers claiming to have represented Tenant in connection with this Amendment No. 9. Landlord
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agrees to indemnify and hold Tenant harmless from all claims of any broker claiming to have represented Landlord in connection with this Amendment No. 9.

5.Miscellaneous. This Amendment No. 9 sets forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. Except as herein modified or amended, the provisions, conditions and terms of the Lease shall remain unchanged an in full force and effect. In the case of any inconsistency between the provisions of the Lease and this Amendment No. 9, the provisions of this Amendment No. 9 shall govern and control. Each signatory of this Amendment No. 9, represents hereby that he or she has the authority to execute and deliver the same on behalf of the party hereto for which such signatory is acting. This Amendment No. 9 may be executed in multiple counterparts each of which is deemed an original but together constitute one and the same instrument. This Amendment No. 9 may be executed in so-called "PDF" format, and each party has the right to rely upon a PDF counterpart of this Amendment No. 9 signed by the other party to the same extent as if such party had received an original counterpart.
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IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment No. 9.
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LANDLORD:
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NXP USA, INC.
a Delaware corporation
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By: ​ ​By:        ​ ​
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Name: Its: Date:

 Katherine Haight

 Authorized Representative May 7, 2020

Name: Its: Date:

Mark Kroeker
Authorized Representative 
May 7, 2020

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TENANT:
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EVERSPIN TECHNOLOGIES, INC.,
a Delaware corporation
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By: ​ ​
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Name: Its: Date:

 Matthew Tenorio
 Corporate Controller and Interim CFO
 May 11, 2020​ ​
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Schedule 1
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EXHIBIT E
Fixed Rent Chart
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The Fixed Rent is:
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	Premises
	Rentable Square Feet
	Annual Fixed Rent as of
3/31/2020
	Monthly Fixed Rent as of
3/31/2020
	Annual Fixed Rent beginning
6/7/2020
	Monthly Fixed Rent beginning
6/7/2020
	Annual Fixed Rent beginning
2/1/2021
	Monthly Fixed Rent beginning
2/1/2021

	Office Space (M and N Building)
	1,484
	$43933.80
	$3,661.15
	$45,691.20
	$3807.60
	$38,565.36
	$3,213.78

	Fab Space (A Building)
	10,012
	$879,964.08
	$73,330.34
	$915,162.60
	$76,263.55
	$772,434.60
	$64,369.55

	Total
	11,496
	$923,897.88
	$76,991.49
	$960,853.80
	$80,071.15
	$810,999.96
	$67,583.33

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Schedule 2
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EXHIBIT J
Additional Rent @ Up to 75wspw MRAM Module Equivalent
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	Manufacturing Services
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	1.
	Manufacturing consumables
	$7,337.57/mo

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	Includes:

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Bulk gases and chemicals for up to 75wspw MRAM Module equivalent.

Bulk gases are: Oxygen, nitrogen, helium, argon and hydrogen supplied from factory bulk delivery systems to Tenant-owned equipment.
Bulk Chemicals are: Sulfuric acid, hydrogen peroxide, hydrochloric acid, ammonium hydroxide, hydrofluoric acid, isopropyl alcohol, tetramethylammonium hydroxide, PGMEA, ACT930, EKC830, PLA224 slurry, SS2SE slurry, W2000b slurry, NOE, Ethylene glycol, Super-Q and NMP supplied from factory bulk delivery systems to Tenant-owned equipment

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NXP to notify Everspin within 72 hours of detection of any excursion in bulk gases or chemicals.

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Additional Rent will be pro-rated for consumption exceeding 75wspw MRAM Module equivalent.

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	2.
	Manufacturing support services
	$23,901/mo

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	Includes:
-Sustaining support for factory manufacturing execution, equipment integration and analysis systems in CH-FAB
Note: Sustaining support does not include Tenant's use of factory manufacturing execution, equipment integration and analysis software.
-Chandler Analytical Lab services (PALAZ TEM, SEM, etc. Maximum 42 samples/mo.)

-Failure analysis services provided by Global Yield and Device Lab (Maximum 4 samples/mo.)
-Tenant may requisition incidental (“open stock”) equipment parts and supplies from CH-FAB with a total value not to exceed $1,500 per month at no charge.
“Open stock” items are: Tubing, tie wraps, fittings, valves, terminals, fuses, wire
connectors, screws, heal shrink tubing, washers, nuts, bolts, retaining rings, silencers/mufflers, filter regulators, O-rings.
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	3.
	Items not included:
	Tenant Expense

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	-Use of factory manufacturing execution, equipment integration and analysis software
-Maintenance of Tenant-owned equipment
-Shipping costs
-Parts ordering and stocking
-Operator staffing to run Tenant-owned tools
-Specialty gases and chemicals that are not provided as part of factory bulk delivery systems
-Product or package reliability, stress or failure analysis services or support
-Services performed by CH-FAB machine shop
-References to wafer quantities in this exhibit do not constitute a capacity commitment by Landlord
-From time to time, and for the purposes of efficient repair or maintenance of tools and equipment on Premises, the Tenant may request to procure goods or services from Landlord, whether
provided or performed by Landlord or Landlord’s vendor. In such an event, Landlord will invoice Tenant cost plus 10%. Tenant acknowledges services performed by a Landlord vendor which result in damage to Tenant’s property are not caused by Landlord, and therefore, Landlord is not liable for any such damages. The foregoing statement does not represent a commitment by the
Landlord to support the repair or maintenance of Tenant’s tools and equipment on the Premises.”
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	The rate for each of the above items will increase on June 7, 2020 (and each anniversary thereafter) of the Lease Term by an amount equal to four percent (4.0%) of the rate for such item for the preceding period.
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