Document:

fwfi_Ex10_1

		
			Exhibit 10.1
		

		
			 
		

		
			AMENDMENT TO EMPLOYMENT AGREEMENT
		

		
			THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is dated May 2, 2019 by and between First Western Financial Inc.,  a Colorado corporation (the “Company” or “FWFI”), and Julie Courkamp, an individual resident of the State of Colorado (the “Executive”).  Together the Company and the Executive are referred to herein as the “Parties”.
		

		
			WHEREAS, the Company and Executive entered into that certain Employment Agreement effective as of January 1, 2017, as amended and restated as of March 5, 2018 (the “Agreement”);
		

		
			WHEREAS, the Parties desire to amend Sections 4(a) and 4(b) of the Agreement in the manner reflected herein;
		

		
			WHEREAS, the Board of Directors of the Company has approved the amendment of the Agreement in the manner reflected herein;
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the covenants and conditions herein, the parties agree to amend the Agreement, as follows:
		

		
			 
		

		
			1.Sections 4(a) and 4(b) of the Agreement are hereby deleted and replaced in the entirety with the following:
		

		
			4(a) Base Salary.  The Company shall pay to the Executive an annual salary (the “Base Salary”) payable in substantially equal installments at such intervals as may be determined by the Company in accordance with its ordinary payroll practices, as established from time to time. The Base Salary shall be reviewed by the Board of Directors annually, and increased as appropriate, for market changes.  Commencing effective February 1, 2019, Executive’s annualized 2019 Base Salary is $300,000.  The Base Salary shall not be decreased by the Company except with the prior written consent of the Executive.
		

		
			4(b) Annual Incentive Compensation.  Executive is eligible to receive annual incentive compensation (the “Annual Bonus”) as governed by the terms set forth in the First Western Financial, Inc. Incentive Plan for Senior Executive Officers, as may be amended from time to time.  The incentive compensation performance measures and goals are reviewed by the Board of Directors annually, and adjusted as appropriate, according to the needs of the business.
		

		
			2.All terms and provisions of the Agreement not amended hereby, either expressly or by necessary implication, shall remain in full force and effect.
		

		
			3.This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and both of which together shall constitute the same instrument.
		

		
			4.This Amendment, along with the Agreement embody the complete Agreement, and from and after the date of this Amendment, all references to the term “Agreement” in this 

		 

 

Amendment or the original Agreement shall include the terms contained in this Amendment.
		

		
			 
		

		
			IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						First Western Financial, Inc.

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:  

					
					
						/s/ Scott. C. Wylie

				
	
					
						 

					
					
						 

					
					
						Scott C. Wylie, Chairman, President & CEO

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						EXECUTIVE

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						/s/ Julie A. Courkamp

				
	
					
						 

					
					
						Julie CourkampExhibit 10.1

 

 

PRECISION
THERAPEUTICS INC.

CONSULTING AGREEMENT

 

This CONSULTING AGREEMENT
{"Agreement") is entered into effective as of May l, 2019, by and between Precision Therapeutics Inc., a Delaware corporation
(the "Company"), and Mr. Richard Gabriel ("Consultant").

 

		1.	Services.
                                         During the term (as defined below), Consultant shall perform the consulting and other
                                         services requested by the Company from time to time in accordance with the Company's
                                         requirements (collectively, the (Services"). Consultant shall diligently perform
                                         the Services in a competent and workmanlike manner.

 

		2.	Compensation.
                                         In consideration of Consultant's promise to provide the Services, the Company shall
                                         pay Consultant cash compensation in the amount of S13,500 per month payable on the first
                                         day of each month within the Term of the contract. No other compensation, in any form,
                                         including benefits, will be provided to Consultant by the Company other than compensation
                                         to Consultant as a member of the Board of Directors or committees of the Board or as
                                         otherwise agreed in writing with the Company.

 

		3.	Expenses.
                                         The Company shall, upon receipt of adequate supporting documentation, reimburse Consultant
                                         for reasonable and approved travel expenses incurred by Consultant in conducting the
                                         Services, subject to the Company's travel and expense reimbursement policies, which may
                                         be amended from time to time.

 

		4.	Independent
                                         Consultant. Consultant is an independent contractor of the Company. Consultant will
                                         have the right to perform services for other persons, firms, entities and associations
                                         during the Term. The Company and its agents and representatives shall have no right to
                                         control or direct the details, means or manner by which the Consultant performs the Services.

 

		5.	Confidential Information; Intellectual
                                         Property.

 

		a.	Consultant
                                         acknowledges that the Company's business and future success depends on the preservation
                                         of trade secrets and other confidential, proprietary information concerning the Company,
                                         it affiliates, suppliers and customers ("Confidential Information"). Confidential
                                         information includes, without limitation: license agreements, patents (including pending
                                         patents), product development plans, processes, scientific data, operational methodologies,
                                         client information, product designs, product configuration knowledge , market surveys,
                                         product and marketing plans, procedural and technical manuals and practices, pricing
                                         methods, proposal terms, contract renewal dates, information about the qualifications
                                         of other employees and other such business information.

 

		b.	Consultant
                                         agrees to protect and preserve Confidential Infomation as confidential both during and
                                         after the Term, whether Confidential Information is contained in a tangible medium, or
                                         merely remembered.

 

     

     

    

 

		c.	During
                                         and after the Term, Consultant shall neither use, nor permit, assist or enable any other
                                         person to use, any Confidential Information in any way except for the benefit of the
                                         Company. Consultant agrees that all tangible material containing or in any way disclosing
                                         any Confidential Information is the Company's exclusive property. Upon the termination
                                         or expiration of this Agreement, or at any earlier request of the Company, Consultant
                                         shall return all tangible materials containing Confidential Information to the Company.
                                         In addition, Consultant shall also assemble all tangible items of work-in progress, notes,
                                         plans, and other materials related in any way to the Services and shall promptly deliver
                                         such materials to the Company.

 

		d.	Consultant
                                         agrees that the provisions of this Agreement, shall supplement, rather than replace,
                                         any other rights or remedies that the Company may have under any other agreement or under
                                         any applicable law for the protection of its intellectual property and trade secrets.

 

		e.	Consultant
                                         hereby acknowledges and agrees that, to the fullest extent permitted by applicable law,
                                         all Inventions (as defined herein) shall be "works made for hire" as defined
                                         in 17 U.S.C.§ 101,
                                         as amended (and as such concept is similarly defined under any applicable foreign laws)
                                         and as such will constitute the sole and exclusive property of the Company without any
                                         further action required on the part of either party hereto. To the extent that any Invention
                                         does not qualify as works made for hire, Consultant hereby assigns to the Company all
                                         rights to any such Inventions. If the foregoing
                                         assignment is invalid or ineffective for any reason, then Consultant hereby grants the
                                         Company a perpetual, royalty-free, non-exclusive, worldwide license to fully exploit
                                         any intellectual property or proprietary rights in the Invention, and any patents, copyrights
                                         and/or trademarks (or other intellectual property or proprietary registrations or applications)
                                         resulting therefrom. Furthermore, Consultant hereby forever waives and agrees never to
                                         assert any moral rights it may have in all or any part of any Invention, even after the
                                         termination of the Agreement. To perfect and effectuate the covenants contained in this
                                         Section, Consultant hereby further agrees to: (i) promptly and fully inform
                                         the Company in writing of all Inventions; (ii) promptly execute and deliver assignment
                                         or conveyance documentation to the Company evidencing that all of Consultant's rights
                                         to all Inventions are the sole and exclusive property of the Company; and (iii) promptly
                                         acknowledge and deliver to the Company, without charge to the Company but at the Company’s
                                         expense, such written instruments, and do such other acts as may be necessary, in the
                                         reasonable opinion of the Company, interest and title thereto in the Company.

 

		f.	For
                                         purposes of this Agreement, " Inventions" means discoveries, improvements,
                                         inventions, ideas and works of authorship (whether or not patentable or copyrightable
                                         or able to be trademarked, including all associated rights thereto under any copyright, trademark and/or
patent applications, registrations, continuations in part, extensions and granted applications extending patent, copyright or
trademark protections) made by Consultant, either solely or jointly with others, relating to any work performed by Consultant
for the Company under this Agreement based upon or derived from Confidential Information. Consultant further agrees to
execute and deliver to the Company all such assignments, endorsements, and other documents, and to take other such actions as
the Company may reasonably request, in order to effectively transfer and assign the Inventions to the Company.
"Inventions" does not mean discoveries, improvements and ideas and works of authorship (whether or not patentable
or copyrightable or able to be trademarked) made by Consultant, either solely or jointly with others, (l) for
which no equipment, supplies, facility or trade secret information of the Company was used and which was developed entirely
on Consultant's own time; (2) which does not relate (i) directly or indirectly to the business of the Company and (ii) to the
Company's actual or demonstrably anticipated research or development; and (3) which does not result from any of the Services
performed by Consultant for the Company.

 

		g.	For
                                         purposes of this Agreement, "Confidential Information" does not include any
                                         information which is generally known or readily ascertainable by proper means, or which
                                         was available on a non-confidential basis prior to the disclosure of Confidential Information
                                         pursuant to this Agreement or information which could readily be obtained from someone
                                         else without any breach by Consultant or the supplier of such information of any contractual
                                         or other obligation of confidentiality and which Consultant is or would be free to disclose
                                         to others without restriction. In any dispute over whether information is or is not "Confidential
                                         Information," it shall be Consultant's burden to show that such information is not
                                         "Confidential Information".

 

     

     

    

 

		6.	Representations
                                         and Warranties. The Company and Consultant each hereby represent and warrant to the
                                         other that its or his respective execution, delivery and performance of this Agreement
                                         will not (a) result in a breach of any of the terms or conditions of, or constitute a
                                         default under, any agreement, license or other instrument or obligation to which it or
                                         he is now a party or by which it or
                                         he or any of its or his respective properties or assets may be bound or affect or (b)
                                         violate any order, writ, injunction or decree of any court, administrative agency or
                                         governmental body, which would (or which violation would) prevent him from consummating
                                         the transactions contemplated herein or performing its or his respective obligations
                                         hereunder. Consultant represents and warrants to the Company that: (a) Consultant has
                                         the right to enter into this Agreement; (b) Consultant has no obligations to any other
                                         person or entity which are in conflict with Consultant's obligations under this Agreement;
                                         and (c) Consultants performance of this Agreement will not infringe on the copyrights,
                                         trademarks, trade secrets or rights of others.

 

		7.	Indemnification.
                                         Consultant will indemnify, defend and hold the Company (and its affiliates and their
                                         respective directors, officers, employees, successors, assigns, insurers and agents)
                                         harmless from all claims, damages losses and expenses (including reasonable attorney's
                                         fees incurred on such claims and in proving the right to indemnification) arising out
                                         of or resulting from any claim, action or other proceeding that is based upon (a) Consultant's
                                         breach of any obligations, representations or warranties under this Agreement or (b)
                                         any act involving gross negligence or willful misconduct of Consultant.

 

		8.	Term.
                                         This Agreement is effective for a period of one year from the first date written above
                                         and may be extended for successive three-month periods at the option of the Company (collectively,
                                         the "Term"); provided, however, that the Company may terminate this Agreement
                                         at any time and for any reason by giving not less than 30 days' prior written notice
                                         to Consultant.

 

		9.	General
                                         Provisions. This Agreement contains the entire understanding of the parties with
                                         regard to all matters contained herein. This Agreement shall be governed by the laws
                                         of the State of Minnesota. The parties agree that Consultant's qualifications to provide
                                         the services contemplated in this Agreement are unique and, as a consequence, Consultant will not have the right to assign any of his rights or delegate any of his obligations hereunder without the prior written consent of the Company.

 

	 	AGREED TO BY:
	 	 	 	 
	 	PRECISION THERAPEUTICS INC.
	 	 	 	 
	 	By: 	/s/ Bob Myers	 
	 	 	Bob Myers, CFO
	 	 	 	 
	 	 	 	 
	 	CONSULTANT
	 	 	 	 
	 	By:	/s/ Richard Gabriel	 
	 	 	Richard Gabriel

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00295-of-00352.parquet"}]]