Document:

EX-10.12

 Exhibit 10.12 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (“Agreement”), dated as of September 28, 2014 (the “Effective Date”), is by
and between BeneChill, Inc., a Delaware corporation (the “Company”), having an office at 10060 Carroll Canyon Road, Suite 100, San Diego CA 92131, and John Estill, an individual residing at 7029 Via Padilla Carlsbad, CA 92009 (the
“Employee”). 
 WHEREAS, the Employee is currently employed by the Company under an “at-will” agreement and the
Company and the Employee wish to enter into an employment agreement for the employee to provide, and the Company wishes to receive, the Employee’s services pursuant to the terms set forth in this Agreement. 

NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the Company and the Employee, each intending
to be legally bound, agree as follows: 
 1. Employment. 

(a) Employment. Subject to all of the terms and conditions of this Agreement, the Company agrees to employ the Employee as its
Chief Financial Officer (CFO) and VP of San Diego Operations, and the Employee accepts such employment. 
 (b) Duties. The
Employee will devote substantially all of the Employee’s business hours to, and during such time, will make the best use of the Employee’s energy, knowledge and training in, advancing the Company’s interests. The Employee will
diligently and conscientiously perform the duties of the Employee’s position within the general guidelines to be determined by the Chief Executive Officer (the “CEO”). While the Employee is employed by the Company, the Employee
will report to the CEO and keep the CEO informed of any other business activities, and will promptly stop any such activity that might conflict with the Company’s interests or adversely affect the performance of the Employee’s duties for
the Company; provided, however, that the Employee may become a member of the board of directors of one company that does not compete with the Company provided that the duties related to such board membership do not interfere with or compete with the
Employee’s duties as the Chief Financial Officer and VP of San Diego Operations of the Company. 
 2. Compensation. 

(a) Salary. The Company agrees that while the Employee is serving as the Company’s Chief Financial Officer and VP of San
Diego Operations, the Employee will be paid a salary at the rate of $203,940 per year, which amount may be increased from time to time as the CEO, in his sole discretion, determines (as applicable, the “Salary”). The Salary will be
paid in accordance with the standard payroll practices of the Company. 
 (b) Bonus. The Company agrees to pay the Employee an
annual bonus of up to 25% of the Salary, the amount of such bonus to be determined by the CEO, in his sole discretion, based upon objectives agreed to at the beginning of each calendar year and compared to the Company’s actual performance
reviewed by the CEO at the end of each calendar year. 

 (c) Stock Incentives. In addition to the Salary and the bonus referenced in
Section 2(b), the CEO may elect to grant to the Employee from time to time stock options for additional shares of the Company’s Common Stock or similar incentives, pursuant to the terms and conditions of the Company’s 2013 Stock
Incentive Plan (the “Plan”), based upon the Employee’s contributions to the Company and other relevant factors, as determined by the CEO in his sole discretion. 

(d) Reimbursement of Business Expenses. The Company agrees to reimburse the Employee for all reasonable out-of-pocket business expenses incurred by the Employee on behalf of the Company, provided that the Employee properly accounts to the Company for all such expenses in
accordance with the rules and regulations of the Internal Revenue Service under the Internal Revenue Code of 1986, as amended (the “Code”) and in accordance with the standard policies of the Company relating to reimbursement of
business expenses. 
 (e) Benefits and Vacation. The Employee is entitled to participate in all benefit plans adopted by the
Company to the extent that the terms of such benefit plans permit the Employee to participate. The Employee is entitled to four weeks of paid vacation and all legal holidays observed by the Company, in each case, in accordance with the
Company’s policies as in effect from time-to-time. 
 3. Term and
Termination. 
 (a) Term. This Agreement will become effective upon the Effective Date. Nothing in this Agreement is
intended to establish any minimum period of the Employee’s continuing employment, and the Employee’s employment shall continue to be on an “at-will” basis. The Employee acknowledges that his employment with the Company is
terminable at will at any time by either party as described herein. 
 (b) Termination. Subject to the respective continuing
obligations of the Company and the Employee under Sections 5, 6 and 7: 
 (1) The Company may terminate this Agreement for
Cause (as defined in Section 3(c)) immediately upon written notice to the Employee; 
 (2) This Agreement will terminate
upon the Employee’s death; 
 (3) The Company may terminate this Agreement upon 30 days’ written notice in the
event of the Employee’s “permanent disability,” meaning the occurrence of an event which constitutes permanent and total disability within the meaning of Section 22(e)(3) of the Code; 

(4) Either the Company or the Employee may terminate this Agreement without Cause upon 30 days’ prior written notice to
the other party. 

  
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 (c) Definitions. 

(1) “Cause” means: 

(A) The Employee’s material breach of Sections 5, 6 or 7 of this Agreement, which breach is not cured within 30 days of
written notice from the CEO setting forth in reasonable detail the nature of such breach; 
 (B) The Employee’s gross
misconduct which is materially and demonstrably injurious to the Company; 
 (C) The Employee’s willful and continued
failure to perform substantially the Employee’s duties with the Company (other than a failure resulting from the Employee’s incapacity due to bodily injury or physical or mental illness) after a demand for substantial performance is
delivered to the Employee by the CEO which specifically identifies the manner in which the Employee has not substantially performed the Employee’s duties and provides for a reasonable period of time within which the Employee may take corrective
measures; or 
 (D) The Employee’s conviction (including a plea of nolo contendere) of willfully engaging in illegal
conduct constituting a felony or gross misdemeanor under federal or state law which is materially and demonstrably injurious to the Company or which impairs the Employee’s ability to perform substantially the Employee’s duties for the
Company. 
 (2) “Termination Date” means the date this Agreement is terminated. 

4. Compensation Upon Termination. Upon the termination of the Employee’s employment with the Company, the Employee shall be entitled to receive
the benefits described in this Section 4 and no other benefits. 
 (a) Termination for Cause. If this Agreement is
terminated by the Company pursuant to Section 3(b)(1), the Employee shall be paid (i) his then current Salary through the Termination Date, (ii) any benefits payable to the Employee pursuant to the terms and conditions of any benefit
plan in which the Employee participated during the term of his employment, the right to which had vested on the Termination Date under the terms and conditions of such plans and (iii) any unpaid expense reimbursement. Such Salary shall be paid
on the Company’s next payday following the Termination Date and such unpaid expenses shall be paid in one lump sum within 10 business days of the Termination Date. 

(b) Termination Due to Death or Disability. If this Agreement is terminated by the Company pursuant to Sections 3(b)(2) or
3(b)(3), the Employee shall be paid (i) his then current Salary through the end of the month following his death or termination as a result of total disability, (ii) benefits payable to the Employee pursuant to the terms and conditions of
any benefit plan in which the Employee participated during the term of his employment, the right to which had vested on the date of his death or termination under the terms and conditions of such plans and (iii) any unpaid expense
reimbursement. Such amounts shall be paid in one lump sum within 10 business days of the date of his death or termination as a result of total disability. 

  
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 (c) Termination upon Change of Control. Upon a Change of Control, as defined in
Section 13.1 of the Plan, if, pursuant to Section 3(b)(4), (i) the Company or its successor elects not to continue the Employee’s employment as of the date of the Change of Control, (ii) the Company or its successor
terminates the Employee’s employment any time within 12 months following the date of the Change of Control for any reason other than Cause pursuant to Section 3(b)(i), or (iii) the Employee voluntarily terminates his employment as a
result of the Company’s or its successor’s substantial reduction in the Employee’s duties and responsibilities related to the Company’s business or assets (recognizing that the Employee’s actual title and reporting
responsibilities may be different, as a result of working for a larger organization after a Change of Control, but his title and responsibilities shall not be less subordinate than the senior financial or operations officer of a surviving
company’s subsidiary or division whose primary business is substantially comprised of the business of the Company), then the Employee shall be paid (a) his then current Salary for a period of 6 months from the date that notice of
termination is delivered by the Company pursuant to Section 3(b)(4) in accordance with the Company’s standard payroll practices, (b) benefits payable to the Employee pursuant to the terms and conditions of any benefit plan in which
the Employee participated during the term of his employment, the right to which had vested on the date of his termination under the terms and conditions of such plans, and (c) any unpaid expense reimbursement, which unpaid expenses shall be
paid in one lump sum within 10 business days of the Termination Date. In addition, the vesting of any stock options or other incentive awards awarded under the Plan shall immediately vest if the acquiring entity or successor to the Company does not
assume such stock options or incentive awards or replace them with substantially equivalent stock options or incentive awards, or if so assumed or replaced, the Employee’s employment is subsequently terminated pursuant to this
Section 4(c)(ii) or 4(c)(iii). The Company or its successor shall only be obligated to make the foregoing payment if the Employee (1) has returned all Company property in the Employee’s possession, (2) has resigned as a member of
the Board of Directors of all subsidiaries of the Company (to the extent applicable), and (3) signs (and does not revoke) a general release in a form to be provided by the Company. 

(d) Termination Without Cause. If this Agreement is terminated by the Company pursuant to Section 3(b)(4), except in the
case of a Change of Control, the Employee shall be paid (i) his then current Salary for a period of six months from the date that notice of termination is delivered by the Company pursuant to Section 3(b)(4) in accordance with the
Company’s standard payroll practices, and (ii) any unpaid expense reimbursement, which unpaid expenses shall be paid in one lump sum within 10 business days of the Termination Date. The Company shall only be obligated to make the foregoing
payment if the Employee (i) has returned all Company property in the Employee’s possession, (ii) has resigned as a member of the Board of Directors of all subsidiaries of the Company (to the extent applicable), and (iii) signs
(and does not revoke) a general release in a form to be provided by the Company. 
 (e) Termination by the Employee. If this
Agreement is terminated by the Employee pursuant to Section 3(b)(4), the Employee shall be paid (i) his then current Salary through the Termination Date, (ii) any benefits payable to the Employee pursuant to the terms and conditions
of any benefit plan in which Employee participated during the term of his employment, the right 

  
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to which had vested on the date of his termination under the terms and conditions of such plans and (iii) any unpaid expense reimbursement. Such Salary shall be paid on the Company’s
next payday following the Termination Date and such unpaid expenses shall be paid in one lump sum within 10 business days of the Termination Date. 
 5.
Confidentiality. 
 (a) Definition. “Confidential Information,” as used in this Agreement, means
information or material which is not generally available to or used by others, or the utility or value of which is not generally known or recognized as standard practice, whether or not the underlying details are in the public domain, including:

 (1) information or material relating to the Company, and its businesses as conducted or anticipated to be conducted,
business plans, operations, past, current or anticipated software, products or services, customers or prospective customers, or research, engineering, development, manufacturing, purchasing, accounting, or marketing activities; 

(2) information or material relating to the Company’s Inventions; 

(3) information which when received is marked as “proprietary,” “private,” or “confidential”;

 (4) trade secrets; and 

(5) any similar information of the type described above which the Company obtained from another party and which the Company
treats as or designates as being proprietary, private or confidential, whether or not owned or developed by the Company. 
 Notwithstanding the foregoing,
“Confidential Information” does not include any information which is properly published or in the public domain; provided, however, that information which is published by or with the aid of the Employee outside the scope of employment or
contrary to the requirements of this Agreement will not be considered to have been properly published, and therefore will not be in the public domain for purposes of this Agreement. 

(b) Prohibition on Disclosure and Use of Confidential Information; Return of Materials. The Employee agrees that he will not
directly or indirectly disclose or use at any time, either during or subsequent to his employment by the Company or by any of the Company’s subsidiaries or affiliates (which obligation will survive indefinitely), any Confidential Information,
except as such disclosure or use may be required in connection with his work for the Company or unless the Employee first secures the written consent of the Company. Upon termination of his employment, the Employee will promptly return to the
Company all originals and all copies of all property and assets of the Company created or obtained by the Employee as a result of or in the course of or in connection with his employment with the Company which are in the Employee’s possession
or control, whether or not constituting or containing Confidential Information, including, but not limited to, computer files, software programs, computer equipment, correspondence, notes, memoranda, notebooks, drawings, customer lists, or other
documents delivered to the Employee concerning any idea, product, apparatus, invention or process manufactured, used, developed, investigated, or marketed by the Company during the period of his employment. 

  
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 (c) Third-Party Information. The Employee understands and acknowledges that the
Company has a policy prohibiting the receipt by the Company of any confidential information in breach of the Employee’s obligations to third parties and does not desire to receive any confidential information under such circumstances.
Accordingly, the Employee will not disclose to the Company or use in the performance of any duties for the Company any confidential information in breach of an obligation to any third party. The Employee represents that he has provided the Company
with a copy of any agreement by which the Employee is bound that restricts the Employee’s use of any third party’s confidential information. 
 6.
Inventions. 
 (a) Definition. “Inventions”, as used in this Agreement, means any inventions,
improvements, developments, ideas, discoveries or designs, whether patentable or unpatenable, and whether created, conceived and/or reduced to practice solely by the Employee or jointly with others, anywhere in the world, whether or not during
regular working hours, and that: (i) relate, at the time of conception or reduction to practice, to (A) the Company’s business, projects or products, or to the manufacture or utilization thereof, or (B) the actual or demonstrably
anticipated research or development of the Company, as evidenced by prior written documentation of the Company; (ii) result from any work performed directly or indirectly by the Employee for the Company; or (iii) result, at least in part,
from the use of the Company’s time, materials, facilities or trade secret information. 
 (b) Ownership of Inventions.
The Employee agrees that all Inventions made by the Employee during his employment with the Company and for six months thereafter will be the sole and exclusive property of the Company. The Employee will, with respect to any Invention: 

(1) keep current, accurate, and complete records, which will belong to the Company and be kept and stored on the Company’s
premises; 
 (2) promptly and fully disclose the existence and describe the nature of the Invention to the Company in writing
(and without request); 
 (3) assign (and the Employee hereby assigns) to the Company all of the Employee’s right, title
and interest in and to the Invention, any applications the Employee makes for patents or copyrights in any country, and any patents or copyrights granted to the Employee in any country; and 

(4) acknowledge and deliver promptly to the Company any written instruments, and perform any other acts necessary in the
Company’s opinion to preserve property rights in the Invention against forfeiture, abandonment or loss and to obtain and maintain letters patent and/or copyrights on the Invention and to vest the entire right and title to the Invention in the
Company. 
 The requirements of this Section 6(b) do not apply to any Invention for which no equipment, supplies, facility or trade secret information
of the Company was used and which was developed 

  
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entirely on the Employee’s own time, and (i) which does not relate directly to the Company’s business or to the Company’s actual or demonstrably anticipated research or
development, or (ii) which does not result from any work the Employee performed for the Company. The Employee agrees to perform promptly (without charge to the Company) all acts as may be necessary in the Company’s opinion to preserve all
patents and/or copyrights granted upon the Employee’s Inventions against forfeiture, abandonment or loss. If the Employee is needed, at any time, to give testimony, evidence, or opinions in any litigation or proceeding involving any patents or
copyrights or applications for patents or copyrights, both domestic and foreign, relating to inventions, improvements discoveries, software, writings or other works of authorship conceived, developed or reduced to practice by the Employee, the
Employee agrees to do so. With respect to any obligations performed by the Employee under this Section 6(b) following termination of this Agreement, the Company will pay or reimburse all reasonable out-of-pocket expenses. 

(c) Works Made for Hire. To the extent that any Invention qualifies as “work made for hire” as defined in 17 U.S.C.
§ 101 (1976), as amended, such Invention will constitute “work made for hire” and, as such, will be the exclusive property of the Company. 

(d) Survivability. The obligations of this Section 6 will survive the expiration or termination of this Agreement. 

7. Non-Competition Agreement. 
 (a)
Other Agreements. The Employee represents and warrants to the Company that he is not currently subject to a non-competition, confidentiality or other such agreement with a former or current employer that prohibits the Employee from
working for the Company. 
 (b) Definition. “Company Product” means any actual or potential product, product
line or service (i) that has been designed, developed, manufactured, marketed or sold by the Company during the Employee’s employment with the Company, (ii) regarding which the Company has conducted or acquired research and
development during the Employee’s employment with the Company, or (iii) which embodies an Invention. 
 (c)
Non-Compete. The Employee agrees that, during his employment with the Company and for a period of one year after the Employee’s employment with the Company ends for any reason, the Employee will not alone, or in any capacity with
another firm: 
 (1) directly or indirectly participate in or support in any capacity (e.g., as an advisor, principal, agent,
partner, officer, director, shareholder, employee or otherwise) the manufacture, invention, development, sale, solicitation of sale, marketing, testing, research or other business aspect of any actual or projected product, product line or service
designed, developed, manufactured, marketed or sold by anyone other than the Company that performs similar functions or is used for the same general purposes as a Company Product; 

  
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 (2) disrupt, damage, impair, or interfere with the Company’s relationship
with employees, customers, agents, representatives or vendors, or attempt to do any of the same; or 
 (3) employ or attempt
to employ (by soliciting or assisting anyone else in the solicitation of) any of the Company’s then employees on behalf of any other entity, whether or not such entity competes with the Company. 

(d) Exceptions to Non-Compete. The restrictions contained in Section 6(c) of this Agreement will not prevent the Employee
from accepting employment with a large diversified organization with separate and distinct divisions that do not compete, directly or indirectly, with the Company, as long as, prior to the Employee’s accepting such employment, the Company
receives separate written assurances from the prospective employer and from the Employee, satisfactory to the Company, to the effect that the Employee will not render any services, directly or indirectly, to any division or business unit that
competes, directly or indirectly, with the Company. During the restrictive period set forth in Section 7(c), the Employee will inform any new employer, prior to accepting employment, of the existence of this Agreement and provide such employer
with a copy of this Agreement. 
 (e) No Additional Compensation. In the event that the Employee’s employment terminates
for any reason, no additional compensation will be paid for this non-competition obligation. 
 (f) Survival. The obligations
of this Section 7 will survive the expiration or termination of this Agreement. 
 8. Miscellaneous. 

(a) No Adequate Remedy. The Employee understands that if the Employee fails to fulfill Employee’s obligations under
Sections 5, 6 or 7 of this Agreement, the damages to the Company would be very difficult to determine. Therefore, in addition to any rights or remedies available to the Company at law, in equity, or by statute, the Employee hereby consents to the
specific enforcement of Sections 5, 6 and 7 of this Agreement by the Company through an injunction or restraining order issued by an appropriate court. 

(b) Consent to Use of Name. The Employee consents to the use of the Employee’s name in appropriate Company materials such
as, but not limited to, offering memoranda related to financing activities of the Company. 
 (c) No Conflicts. The Employee
represents and warrants to the Company that neither the entering into of this Agreement nor the performance of any obligations hereunder will conflict with or constitute a breach under any obligation of the Employee, as the case may be, under any
agreement or contract to which the Employee is a party or any other obligation by which the Employee is bound. Without limiting the foregoing, the Employee agrees that at no time will the Employee use any trade secrets or other intellectual property
of any third party while performing services hereunder. 

  
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 (d) Successors and Assigns. This Agreement is binding on and inures to the benefit
of the Company’s successors and assigns; provided however, that the Company may assign this Agreement only in connection with a merger, consolidation, assignment, sale or other disposition or substantially all of its assets or business. This
Agreement is also binding on the Employee’s heirs, successors, assigns and legal representatives. 
 (e) Modification.
This Agreement may be modified or amended only by a writing signed by the Company and the Employee. 
 (f) Governing Law. The
laws of the State of Delaware will govern the validity, construction, and performance of this Agreement, without regard to any conflict of law provisions. 

(g) Dispute Resolution. Except for any proceeding brought pursuant to Section 8(a) herein, the parties agree that any
dispute arising out of or relating to this Agreement or the formation, breach, termination or validity thereof (a “Dispute”), will be resolved as follows. If the Dispute cannot be settled through direct discussions, the parties will
first try to settle the Dispute in an amicable manner by mediation before resorting to arbitration. Any Dispute that has not been resolved within 60 days of the initiation of the mediation procedure (the “Mediation Deadline”) will
be settled by binding arbitration by a single arbitrator administered by JAMS pursuant to its Employment Arbitration Rules & Procedures and subject to JAMS Policy on Employment Arbitration Minimum Standards of Procedural Fairness in
accordance with the commercial arbitration rules of the JAMS. The arbitrator is not empowered to award damages in excess of compensatory damages and each party hereby irrevocably waives any damage in excess of compensatory damages. Judgment upon any
arbitration award may be entered into any court having jurisdiction thereof and the parties hereby consent to the jurisdiction of the courts of the state in which the arbitration occurred for this purpose. 

(h) Construction. Whenever possible, each provision of this Agreement will be interpreted so that it is valid under the
applicable law. If any provision of this Agreement is to any extent declared invalid by a court of competent jurisdiction under the applicable law, that provision will remain effective to the extent not declared invalid. The remainder of this
Agreement also will continue to be valid, and the entire Agreement will continue to be valid in other jurisdictions. 
 (i)
Waivers. No failure or delay by the Company or the Employee in exercising any right or remedy under this Agreement will waive any provision of the Agreement. Nor will any single or partial exercise by either the Company or the Employee
of any right or remedy under this Agreement preclude either of them from otherwise or further exercising these rights or remedies, or any other rights or remedies granted by any law or any related document. 

(j) Entire Agreement. This Agreement supersedes all previous and contemporaneous oral negotiations, commitments, writings and
understandings between the parties concerning the matters in this Agreement. 
 (k) Notices. All notices and other
communications required or permitted under this Agreement shall be in writing and hand-delivered or sent by registered or certified first-class 

  
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mail, postage prepaid, and shall be effective upon delivery if hand-delivered, three days after mailing if mailed or one day after delivery to a commercial overnight delivery service, in each
case to the addresses stated at the beginning of this Agreement. These addresses may be changed at any time by like notice. 
 (l)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but each of which together shall constitute one and the same document. Facsimile execution and delivery of this
Agreement shall be legal, valid and binding execution and delivery for all purposes. 
 [signature page follows] 

  
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 IN WITNESS WHEREOF, the Company and the Employee have executed this Agreement as of the date
first above written. 
  

							
	BENECHILL, INC.	 		 	EMPLOYEE:
				
	By:	 	 /s/ Fred Colen
	 		 	 /s/ John Estill

	Name:	 	 Fred Colen
	 		 	John Estill
	Its:	 	 Chief Executive Officer
	 		 	

  
 11EX-10.13

 Exhibit 10.13 

RESTRICTED STOCK AWARD AGREEMENT 

THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) is entered into and effective as of this 22nd day of July, 2014 (the
“Date of Grant”), by and between BeneChill, Inc. (the “Company”) and John Estill (the “Grantee”). 

A. The Company has adopted the BeneChill, Inc. 2013 Stock Incentive Plan (the “Plan”) authorizing the Board of Directors
of the Company, or a committee as provided for in the Plan (the Board or such a committee to be referred to as the “Committee”), to grant restricted stock awards to employees, directors, non-employee consultants and independent
contractors of the Company and its Subsidiaries (as defined in the Plan). 
 B. The Company desires to give the Grantee a proprietary
interest in the Company and an added incentive to advance the interests of the Company by granting to the Grantee a restricted award of shares of the Company’s common stock pursuant to the terms and conditions of the Plan and this Agreement.

 1. GRANT OF AWARD. 
 The Company
hereby grants to the Grantee a restricted stock award (the “Award”) consisting of Twenty-Five Thousand (25,000) shares (the “Award Shares”) of the Company’s common stock, $.001 par value per share
(the “Common Stock”), according to the terms and subject to the restrictions and conditions hereinafter set forth and as set forth in the Plan. Reference to the Award Shares in this Agreement will be deemed to include the Dividend
Proceeds (as defined in Section 3.3 of this Agreement) with respect to such Award Shares that are retained and held by the Committee as provided in Section 3.3 of this Agreement. 

2. GRANT RESTRICTION. 
 2.1
Vesting. Subject to Sections 2.2 and 2.3, if the Company completes an initial public offering of its Common Stock and the listing of the Company’s Common Stock on NASDAQ (a “Successful IPO”) by December 31, 2014,
the Grantee’s rights under the Award Shares shall vest (and restrictions on the corresponding Award Shares shall lapse) upon the earlier of (a) the one-year anniversary of the closing date of a Successful IPO or (b) immediately prior
to the closing of a Change in Control (as defined in the Plan); provided that Grantee is continuously employed by the Company or otherwise has provided services to the Company from the Date of Grant through each such date. 

2.2 Termination of Employment or Other Service. 

(a) Termination Due to Death, Disability or Retirement. In the event the Grantee’s employment with the Company and
all Subsidiaries is terminated by reason of death, Disability or Retirement (as such terms are defined in the Plan), all Award Shares that have not vested at such time shall be terminated and forfeited. 

(b) Termination for Reasons Other Than Death, Disability or Retirement. In the event the Grantee’s employment with
the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Grantee is in the employ 

 
of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Grantee continues in the employ or service of the Company or another Subsidiary), all rights of the Grantee
under the Plan and this Agreement will terminate immediately without notice of any kind, and this Award will be terminated and all Award Shares that have not vested at such time will be forfeited. 

2.3 Change in Control. 

(a) Impact of Change in Control. Subject to the vesting requirements under Section 2.1 above, the restrictions on
the Award Shares shall lapse immediately prior to the closing of a Change in Control (as defined in the Plan) of the Company. 

(b) Limitation on Change in Control Payments. Notwithstanding anything in this Section 2.3 to the contrary, if,
with respect to the Grantee, acceleration of the vesting of the Award Shares as provided above (which acceleration could be deemed a “payment” within the meaning of Section 280G(b)(2) of the Internal Revenue Code of 1986, as amended
(the “Code”)), together with any other payments which the Grantee has the right to receive from the Company or any corporation which is a member of an “affiliated group” (as defined in Section 1504(a) of the Code without
regard to Section 1504(b) of the Code) of which the Company is a member, would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), the payments to the Grantee as set forth herein will be reduced to
the largest amounts as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the Code; provided, that such reduction shall be made only if the aggregate amount of the payments after such reduction
exceeds the difference between (A) the amount of such payments absent such reduction minus (B) the aggregate amount of the excise tax imposed under Section 4999 of the Code attributable to any such excess parachute payments.
Notwithstanding the foregoing sentence, if the Grantee is subject to a separate agreement with the Company or a Subsidiary that expressly addresses the potential application of Sections 280G or 4999 of the Code (including, without limitation, that
“payments” under such agreement or otherwise will be reduced, that such “payments” will not be reduced or that the Grantee will have the discretion to determine which “payments” will be reduced), then this
Section 2.3(b) will not apply, and any “payments” to the Grantee pursuant to Section 2.3(a) of this Agreement will be treated as “payments” arising under such separate agreement. 

3. Issuance of Award Shares. 
 3.1
Privileges of a Shareholder; Transferability. As soon as practicable after the execution and delivery of this Agreement and the satisfaction of any conditions to the effective issuance of such Award Shares (including, without limitation, the
conditions set forth in Section 2 of this Agreement and Section 15 of the Plan), the Grantee will be recorded on the books of the Company as the owner of the Award Shares, and the Company will issue one or more duly issued and executed
stock certificates evidencing the Award Shares. The Grantee will have all voting, dividend, liquidation and other rights with respect to the Award Shares in accordance with their terms upon becoming the holder of record of such Award Shares;
provided, however, that prior to their vesting, Award Shares will not be assignable or transferable by the Grantee, 

  
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either voluntarily or involuntarily, and may not be subjected to any lien, directly or indirectly, by operation of law or otherwise. Any attempt to transfer, assign or encumber the Award Shares
other than in accordance with this Agreement and the Plan will be null and void and will void the Award, and all unvested Award Shares will be forfeited and immediately returned to the Company. 

3.2 Enforcement of Restrictions. To enforce the restrictions on transfer imposed by this Agreement and the Plan, the Company may place
a legend on the stock certificates referring to the restrictions and may require the Grantee, until all restrictions on the Award Shares have lapsed, to keep the stock certificates evidencing such Award Shares, together with duly endorsed stock
powers, in the custody of the Company or its transfer agent or to maintain evidence of stock ownership of such Award Shares, together with duly endorsed stock powers, in a certificateless book-entry stock account with the Company’s transfer
agent. 
 3.3 Dividends and Other Distributions. Unless the Committee determines otherwise in its sole discretion, the Grantee will
have no right to receive dividends or distributions with respect to unvested Award Shares, including cash dividends, stock dividends or dividends in kind, the proceeds of any stock split or the proceeds resulting from any changes or exchanges
described in Section 6 of this Agreement (all of which will collectively be referred to as “Dividend Proceeds”). The Committee may, in its sole discretion, distribute such Dividend Proceeds to the Grantee or it may retain and hold
such Dividend Proceeds subject to vesting of the Award Shares and the other terms and conditions of this Agreement. In addition, the Committee may, in its sole discretion, cause such Dividend Proceeds to be paid to the Company pursuant to
Section 5 of this Agreement in order to satisfy any federal, state or local withholding or other employment-related tax requirements attributable to such dividends or distributions or to the Grantee’s receipt of the Award or the vesting of
Award Shares. 
 4. Rights of Grantee. 

4.1 Employment or Service. Nothing in this Agreement will interfere with or limit in any way the right of the Company or any Subsidiary
to terminate the employment or service of the Grantee at any time, nor confer upon the Grantee any right to continue in the employ or service of the Company or any Subsidiary at any particular position or rate of pay or for any particular period of
time. 
 4.2 Rights as a Shareholder. The Grantee will have no rights as a shareholder until the Grantee becomes the holder of record
of Award Shares, and no adjustment will be made for dividends or distributions with respect to the Award Shares as to which there is a record date preceding the date the Grantee becomes the holder of record of the Award Shares, except as may
otherwise be provided in the Plan or determined by the Committee in its sole discretion. 
 5. Withholding Taxes. 

The Company is entitled to (a) withhold and deduct from future wages of the Grantee (or from other amounts that may be due and owing to
the Grantee from the Company), or cause to be paid to the Company out of Dividend Proceeds, or make other arrangements for the collection of, all legally required amounts necessary to satisfy any federal, state or local withholding and

  
 3 

 
employment-related tax requirements attributable to the receipt of the Award, the receipt of dividends or distributions on Award Shares, or the vesting of Award Shares, or (b) require the
Grantee promptly to remit the amount of such withholding to the Company. In the event that the Company is unable to withhold such amounts, for whatever reason, the Grantee agrees to pay to the Company an amount equal to the amount the Company would
otherwise be required to withhold under federal, state or local law. 
 6. Adjustments. 

In the event of any reorganization, merger, consolidation, recapitalization, liquidation, reclassification, stock dividend, stock split,
combination of shares, rights offering or divestiture (including a spin-off) or any other change in the corporate structure or shares of the Company, the Committee (or, if the Company is not the surviving corporation in any such transaction, the
board of directors of the surviving corporation), in order to prevent dilution or enlargement of the rights of the Grantee, will make appropriate adjustment (which determination will be conclusive) as to the number and kind of securities or other
property (including cash) subject to this Award. 
 7. Subject to Plan. 

The Award and the Award Shares granted pursuant to this Agreement have been granted under, and are subject to the terms of, the Plan. Terms of
the Plan are incorporated by reference in this Agreement in their entirety, and the Grantee, by execution hereof, acknowledges having received a copy of the Plan. The provisions of this Agreement will be interpreted as to be consistent with the
Plan, and any ambiguities in this Agreement will be interpreted by reference to the Plan. In the event that any provision of this Agreement is inconsistent with the terms of the Plan, the terms of the Plan will prevail. 

8. Miscellaneous. 
 8.1 Binding
Effect. This Agreement will be binding upon the heirs, executors, administrators and successors of the parties to this Agreement. 
 8.2
Governing Law. This Agreement and all rights and obligations under this Agreement will be construed in accordance with the Plan and governed by the laws of the State of Minnesota, without regard to conflicts of laws provisions. Any legal
proceeding related to this Agreement will be brought in an appropriate Minnesota court, and the parties to this Agreement consent to the exclusive jurisdiction of the court for this purpose. 

8.3 Entire Agreement. This Agreement and the Plan set forth the entire agreement and understanding of the parties to this Agreement
with respect to the grant and vesting of this Award and the administration of the Plan and supersede all prior agreements, arrangements, plans and understandings relating to the grant and vesting of this Award and the administration of the Plan.

 8.4 Amendment and Waiver. Other than as provided in the Plan, this Agreement may be amended, waived, modified or canceled only by
a written instrument executed by the parties to this Agreement or, in the case of a waiver, by the party waiving compliance. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective the day and year
first above written. 
  

							
		 	BENECHILL, INC.
			
		 	By	 	 /s/ Fred Colen

		 		 	Name:	 	Fred Colen
		 		 	Its:	 	Chief Executive Officer
		
	By execution of this Agreement,	 	GRANTEE
	 the Grantee acknowledges having
 received a copy
of the Plan.
	 	
		 	 /s/ John Estill

		 	John Estill

  
 5

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