Document:

Employment Letter Agreement

 Exhibit 10.28 
 Helix BioMedix, Inc. 
 22118 – 20th Avenue SE, Suite 204 
 Bothell, WA
98021 
 October 8, 2007 
 Robin L. Carmichael

 221 W. 48th Street 
 Kansas City, MO 64112 
 Dear Robin:

 It is with great pleasure that I am offering you the position of Vice President – Marketing and Business Development at Helix BioMedix, Inc. (the
“Company”). Subject to the fulfillment of any conditions imposed by this letter, the terms of your position with the Company will be as set forth below: 
  

	1.	Position: 

 You will be the Company’s Vice President –
Marketing and Business Development, reporting to the Company’s Chief Executive Officer. You will be responsible for overseeing all operations involving the Company’s marketing/business development functions, including product/portfolio
strategy and direction; identification, pursuit and negotiation of technology licenses and collaborative partnerships; and organizational strategy. 
 You
agree to the best of your ability and experience that you will at all times loyally, honestly, and conscientiously perform all of the duties and obligations required of and from you pursuant to the express and implicit terms hereof. During the term
of your employment, you further agree that: (i) you will devote all of your business time and attention to the business of the Company; (ii) the Company will be entitled to all of the benefits and profits arising from or incident to all
such work services and advice; (iii) you will not render commercial or professional services of any nature to any person or organization, whether or not for compensation, without the prior written consent of the Company; and (iv) you will
not directly or indirectly engage or participate in any business that is competitive in any manner with the business of the Company. 
  

	2.	Start Date: 

 Your start date will be October 31, 2007;
however, the Company acknowledges that you will perform service for your current employer for up to three (3) days during November 2007. 
  

	3.	Proof of Right to Work: 

 For purposes of Federal immigration law,
you will be required to provide the Company with documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your date of hire, or our
employment relationship with you may be terminated. 

 Robin L. Carmichael 
 Page 2 
  

	4.	Compensation: 

 Base Salary: 
 You will be paid an annual salary of $200,000.00. Your position is classified as exempt and, as such, you will not be eligible for overtime pay. Your salary will be
payable every other week pursuant to the Company’s regular payroll practices including standard withholding such as Medicare and social security taxes. The Board of Directors and/or the Compensation Committee thereof shall review your
compensation and performance annually commencing in the calendar year ending December 31, 2008. 
 Health, Medical, and Life Insurance Benefits: 

 You and your family will be entitled to participate in the Company’s health, medical and life insurance plans that will be described to you in detail
under separate cover. You will also be entitled to participate in the Company’s 401(k) plan and matching program. 
 Vacation; Sick Leave:

 You will be entitled to three (3) weeks of paid vacation and one (1) week of paid sick leave per calendar year (prorated from your start
date). 
  

	5.	Stock Option Grants: 

 In connection with the commencement of your
employment, the Company will recommend that the Board of Directors grant you an option to purchase 150,000 shares of the Company’s common stock with an exercise price equal to the fair market value on the date of the grant. This option will be
subject to the terms of the Company’s 2000 Stock Option Plan and the applicable stock option agreement between you and the Company and is intended to be an incentive stock option to the extent allowed under applicable law. 
 In addition, subject to approval by the Board of Directors and satisfaction of certain performance criteria to be mutually agreed upon, you may be eligible to receive an
option to purchase an additional 100,000 shares of the Company’s common stock with an exercise price equal to the fair market value on the date of the grant. This option would be subject to the terms of the Company’s 2000 Stock Option Plan
and the applicable stock option agreement between you and the Company and would be intended to be an incentive stock option to the extent allowed under applicable law. 
 Any outstanding options shall vest and become fully exercisable upon a change of control of the Company in accordance with the terms and conditions of the Company’s 2000 Stock Option Plan. 

 Robin L. Carmichael 
 Page 3 
  

	6.	PIAA: 

 Prior to commencement of your employment with the Company,
you agree to execute and deliver to the Company and be bound by its standard form of proprietary invention and assignment agreement. 
  

	7.	At-Will Employment: 

 Your employment with the Company will be on an
“at will” basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason, without further obligation or liability. Notwithstanding the foregoing, in the event that the Company terminates
this employment relationship without Cause (as defined below) or you terminate this employment relationship with Good Reason (as defined below), the Company will pay you any unpaid annual base salary, any amount due but not paid under any Company
incentive compensation plan, earned but unused vacation and bonuses due (if any) for services already performed (subject to normal withholding and other deductions) to the effective date of termination of employment; and monthly severance payments
equivalent to six (6) months base salary. These payments will be made in accordance with the Company’s customary payroll schedule, minus deductions required by law. Payment of the above-described severance compensation and benefits is
conditioned on the execution by you of a full mutual release of all claims related to your employment with or termination from the Company. You will have the duty to mitigate the costs to the Company by attempting to obtain other employment within a
reasonable time after termination. During the period you are entitled to receive severance payments hereunder, the monthly payment otherwise due from the Company shall be reduced by fifty percent (50%) of your monthly compensation from such
other employment. For purposes hereof, the term “Cause” shall mean if you (i) are convicted of a felony or any crime involving dishonesty, breach of trust, or physical harm to any person or relating to the business of the Company or
any successor company (or enter a pleas of guilty or nolo contendere with respect thereto); (ii) repeatedly report to work under the influence of alcohol or illegal drugs; (iii) substantially and repeatedly fail to perform the duties as
reasonably directed by the Chief Executive Officer of the Company or any successor company, (iv) are found by a court of competent jurisdiction to have made unauthorized use or disclosure of confidential information or trade secrets; or
(v) engage in gross negligence or willful misconduct in carrying out your duties as an employee of the Company or any successor company, and the term “Good Reason” shall mean the occurrence of any of the following events without your
consent: (i) a demotion or other material reduction in the nature or status of your responsibilities or (ii) a material reduction in your annual base salary or any failure by the Company to satisfy its duty to compensate you as required
hereunder. 
  

	8.	Relocation Reimbursement 

 The Company agrees to reimburse you up to
$15,000 in relocation expenses. 

 Robin L. Carmichael 
 Page 4 
  

 To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below
and return it to the undersigned. This letter, together with the PIAA referenced above and subject to the Company’s general employment policies in effect from time to time, set forth the terms of your employment with the Company and supersedes
any prior representations or agreements, whether written or oral. This letter may not be modified or amended except by a written agreement, signed by the Company and by you. 
  

	
	With best regards,
	
	/s/ R. Stephen Beatty
	R. Stephen Beatty
	President and Chief Executive Officer
	Helix BioMedix, Inc.

 Robin L. Carmichael 
 Page 5 
  

	
	ACCEPTED AND AGREED:
	
	/s/ Robin L. Carmichael
	Signature
	
	October 15, 2007
	DateThird Amendment to Revolving Credit Agreement

 Exhibit 10.1 
 THIRD AMENDMENT 
 TO REVOLVING CREDIT AGREEMENT 
 This THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT, dated as of November 6, 2007 (this “Amendment”), by and among
MCCORMICK & SCHMICK ACQUISITION CORP., a Delaware corporation (“MSAC”), MCCORMICK & SCHMICK RESTAURANT CORP., a Delaware corporation (“MSRC”), MCCORMICK & SCHMICK MARYLAND
LIQUOR, INC., a Maryland corporation, MCCORMICK & SCHMICK ACQUISITION I TEXAS, INC., a Texas corporation (“MS Acquisition I”), MCCORMICK & SCHMICK ACQUISITION II TEXAS, INC., a
Delaware corporation (“MS Acquisition II”), MCCORMICK & SCHMICK ACQUISITION TEXAS LP, a Texas limited partnership, MCCORMICK & SCHMICK ACQUISITION III TEXAS, INC., a Texas corporation,
MCCORMICK & SCHMICK’S ATLANTA II, LLC, a Delaware limited liability company, MCCORMICK & SCHMICK’S HACKENSACK, LLC, a Delaware limited liability company, MCCORMICK & SCHMICK ORLANDO, LLC, a
Delaware limited liability company, MCCORMICK & SCHMICK DALLAS, L.P., a Texas limited partnership, MCCORMICK & SCHMICK DALLAS LIQUOR, INC., a Texas corporation, MCCORMICK & SCHMICK AUSTIN, LP, a Texas
limited partnership, MCCORMICK & SCHMICK AUSTIN LIQUOR, INC., a Texas corporation, and each of the other Subsidiaries of MSAC which shall from time to time hereafter become a party thereto pursuant to §9.17 of the Credit
Agreement (as defined below) (collectively, the “Borrowers”), BANK OF AMERICA, N.A., as successor by merger to Fleet National Bank, and COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. “RABOBANK
INTERNATIONAL” NEW YORK BRANCH (collectively, the “Lenders”), BANK OF AMERICA, N.A., as successor by merger to Fleet National Bank, as administrative agent for itself and the Lenders (in such capacity, the
“Administrative Agent”), amends certain provisions of the Revolving Credit Agreement, dated as of July 23, 2004 (as amended and in effect from time to time, the “Credit Agreement”), by and among the
Borrowers, the Lenders, the Administrative Agent and BANC OF AMERICA SECURITIES LLC, as arranger. Terms not otherwise defined herein which are defined in the Credit Agreement shall have the same respective meanings herein as therein.

 WHEREAS, the Borrowers have requested that the Administrative Agent and the Lenders amend certain provisions of the Credit
Agreement; and 
 WHEREAS, the Administrative Agent and the Lenders have agreed to amend certain provisions of the Credit Agreement as
provided more fully herein below; 
 NOW THEREFORE, in consideration of the mutual agreements contained in the Credit Agreement and
herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1.1. Amendment to §10.1 of the Credit Agreement (Restrictions on Indebtedness). §10.1(d) of the Credit Agreement is hereby amended by deleting the figure of “$3,000,000” in the
last line therein and substituting the figure “$10,000,000” therefor. 
 1.2. Conditions to Effectiveness.
Upon the Administrative Agent’s receipt of a counterpart signature page to this Amendment duly executed and delivered by each of the Borrowers, the Required Lenders and the Administrative Agent, this Amendment shall be deemed to be effective as
of September 28, 2007. 

 1.3. Representations and Warranties. Each of the Borrowers hereby represents and
warrants to the Administrative Agent and the Lenders as follows: 
 (a) Representations and Warranties
in the Credit Agreement. The representations and warranties of each of the Borrowers contained in the Credit Agreement were true and correct in all material respects as of the date when made and continue to be true and
correct in all material respects on the date hereof, except to the extent of changes resulting from transactions or events contemplated or permitted by the Credit Agreement and the other Loan Documents and changes occurring in the ordinary course of
business that singly or in the aggregate are not materially adverse, or to the extent that such representations and warranties relate expressly to an earlier date. 
 (b) Ratification, Etc. Except as expressly amended or waived hereby, the Credit Agreement and the other Loan Documents, and
all documents, instruments and agreements related thereto, are hereby ratified and confirmed in all respects and shall continue in full force and effect. The Credit Agreement shall, together with this Amendment, be read and construed as a single
agreement. All references to the Credit Agreement in the Credit Agreement, the Loan Documents or any related agreement or instrument shall hereafter refer to the Credit Agreement as amended hereby. 
 (c) Authority, Etc. The execution and delivery by each of the Borrowers of this Amendment and the performance by such Person
of all of its agreements and obligations under the Credit Agreement as amended hereby are within the corporate, limited partnership or limited liability company authority, as applicable, of such Person and have been duly authorized by all necessary
entity proceedings on the part of such Person. 
 (d) Enforceability of Obligations. This Amendment and
the Credit Agreement as amended hereby constitute the legal, valid and binding obligations of each of the Borrowers enforceable against such Person in accordance with their terms, except as enforceability is limited by bankruptcy, insolvency,
reorganization, moratorium or other laws relating to or affecting generally the enforcement of, creditors’ rights and except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion
of the court before which any proceeding therefore may be brought. 
 (e) No Default. No Default or Event of
Default has occurred and is continuing. 
 1.4. No Other Amendments. Except as expressly provided in this
Amendment, all of the terms and conditions of the Credit Agreement and the other Loan Documents remain in full force and effect. Nothing contained in this Amendment shall (a) be construed to imply a willingness on the part of the Administrative
Agent or the Lenders to grant any similar or other future amendment, waiver or consent of any of the terms and conditions of the Credit Agreement or the other Loan Documents or (b) in any way prejudice, impair or effect any rights or remedies
of the Administrative Agent or the Lenders under the Credit Agreement or the other Loan Documents. 
 1.5. Execution
in Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but which together shall constitute one instrument. In proving this Amendment, it shall not be necessary to
produce or account for more than one such counterpart signed by the party against whom enforcement is sought. 
  

 -2- 

 1.6. Expenses. Pursuant to §17.2 of the Credit Agreement, all reasonable costs
and expenses incurred or sustained by the Administrative Agent in connection with this Amendment, including the fees and disbursements of legal counsel for the Administrative Agent in producing, reproducing and negotiating the Amendment, will be for
the account of the Borrowers whether or not the transactions contemplated by this Amendment are consummated. 
 1.7.
Miscellaneous. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS AND SHALL FOR ALL PURPOSES BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS
(EXCLUDING THE LAWS APPLICABLE TO CONFLICTS OR CHOICE OF LAW). The captions in this Amendment are for convenience of reference only and shall not define or limit the provisions hereof. 
 [signature pages follow] 
  

 -3- 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as a document under seal as of
the date first above written. 
  

					
	MCCORMICK & SCHMICK ACQUISITION CORP.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Chief Financial Officer
	
	MCCORMICK & SCHMICK RESTAURANT CORP.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Chief Financial Officer
	
	MCCORMICK & SCHMICK MARYLAND LIQUOR, INC.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Secretary
	
	MCCORMICK & SCHMICK ACQUISITION I TEXAS, INC.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person
	
	MCCORMICK & SCHMICK ACQUISITION II TEXAS, INC.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person

 Signature Page to Third Amendment 

					
	MCCORMICK & SCHMICK ACQUISITION TEXAS LP
	By:	 	McCormick & Schmick Acquisition I Texas, Inc., its General Partner
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person
	
	MCCORMICK & SCHMICK ACQUISITION III TEXAS, INC.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person
	
	MCCORMICK & SCHMICK’S ATLANTA II, LLC
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Manager
	
	MCCORMICK & SCHMICK’S HACKENSACK, LLC
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Manager
	
	MCCORMICK & SCHMICK ORLANDO, LLC
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Manager

 Signature Page to Third Amendment 

					
	MCCORMICK & SCHMICK DALLAS, LP
	By:	 	McCormick & Schmick Acquisition I Texas, Inc., its General Partner
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person
	
	MCCORMICK & SCHMICK DALLAS LIQUOR, INC.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person
	
	MCCORMICK & SCHMICK AUSTIN, LP
	By:	 	McCormick & Schmick Acquisition I Texas, Inc., its General Partner
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person
	
	MCCORMICK & SCHMICK AUSTIN LIQUOR, INC.
		
	By:	 	/s/ Emanuel N. Hilario
		 	Name:	 	Emanuel N. Hilario
		 	Title:	 	Authorized Person

 Signature Page to Third Amendment 

					
	BANK OF AMERICA, N.A., as successor by merger to Fleet National Bank, individually and as Administrative Agent
		
	By:	 	/s/ Kalens Herold
		 	Name:	 	Kalens Herold
		 	Title:	 	Assistant Vice President

 Signature Page to Third Amendment 

					
	COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. “RABOBANK INTERNATIONAL” NEW YORK BRANCH
		
	By:	 	/s/ Terese Rowe
		 	Name:	 	Terese Rowe
		 	Title:	 	Vice President
		
	By:	 	/s/ Rebecca O. Morrow
		 	Name:	 	Rebecca O. Morrow
		 	Title:	 	Executive Director

 Signature Page to Third Amendment

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