Document:

EX-10.1

 Exhibit 10.1 

MYOMO, INC. 
 SENIOR
EXECUTIVE CASH INCENTIVE BONUS PLAN 
 Purpose 

This Senior Executive Cash Incentive Bonus Plan (the “Incentive Plan”) is intended to provide an
incentive for superior work and to motivate eligible executives of Myomo, Inc. (the “Company”) and any subsidiaries toward even higher achievement and business results, to tie their goals and interests to those of the Company
and its stockholders and to enable the Company to attract and retain highly qualified executives. The Incentive Plan is for the benefit of Covered Executives (as defined below). 

Covered Executives 
 From time to time,
the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) may select certain key executives (the “Covered Executives”) to be
eligible to receive bonuses hereunder. Participation in this Plan does not change the “at will” nature of a Covered Executive’s employment with the Company. 

Administration 
 The Compensation
Committee shall have the sole discretion and authority to administer and interpret the Incentive Plan. 
 Bonus Determinations 

Corporate Performance Goals. A Covered Executive may receive a bonus payment under the Incentive Plan based upon the attainment of one
or more performance objectives that are established by the Compensation Committee and relate to financial and operational metrics with respect to the Company or any of its subsidiaries (the “Corporate Performance Goals”),
including the following: cash flow (including, but not limited to, operating cash flow and free cash flow); research and development, publication, clinical and/or regulatory milestones; earnings before interest, taxes, depreciation and amortization;
net income (loss) (either before or after interest, taxes, depreciation and/or amortization); changes in the market price of the Company’s common stock; economic value-added; acquisitions or strategic transactions, including licenses,
collaborations, joint ventures or promotion arrangements; operating income (loss); return on capital, assets, equity, or investment; total stockholder returns; coverage decisions; productivity; expense efficiency; margins; operating efficiency;
working capital; earnings (loss) per share of the Company’s common stock; sales or market shares; number of prescriptions or prescribing physicians; revenue; corporate revenue; operating income and/or net annual recurring revenue, any of which
may be (A) measured in absolute terms or compared to any incremental increase, (B) measured in terms of growth, (C) compared to another company or companies or to results of a peer group, (D) measured against the market as a
whole and/or as compared to applicable market indices and/or (E) measured on a pre-tax or post-tax basis (if applicable). Further, any Corporate Performance Goals
may be used to measure the performance of the Company as a whole or a business unit or other segment of the Company, or one or more product lines or specific markets. The Corporate Performance Goals may differ from Covered Executive to Covered
Executive.  
 Calculation of Corporate Performance Goals. At the beginning of each applicable performance period, the
Compensation Committee will determine whether any significant element(s) will be included in or excluded from the calculation of any Corporate Performance Goal with respect to any Covered Executive. In all other respects, Corporate Performance
Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting principles, or under a methodology established by the Compensation Committee at the beginning of the performance period and which is
consistently applied with respect to a Corporate Performance Goal in the relevant performance period. 

 Target; Minimum; Maximum. Each Corporate Performance Goal shall have a “target”
(100 percent attainment of the Corporate Performance Goal) and may also have a “minimum” hurdle and/or a “maximum” amount. 

Bonus Requirements; Individual Goals. Except as otherwise set forth in this Section 4(d): (i) any bonuses paid to Covered
Executives under the Incentive Plan shall be based upon objectively determinable bonus formulas that tie such bonuses to one or more performance targets relating to the Corporate Performance Goals, (ii) bonus formulas for Covered Executives
shall be adopted in each performance period by the Compensation Committee and communicated to each Covered Executive at the beginning of each performance period and (iii) no bonuses shall be paid to Covered Executives unless and until the
Compensation Committee makes a determination with respect to the attainment of the performance targets relating to the Corporate Performance Goals. Notwithstanding the foregoing, the Compensation Committee may adjust bonuses payable under the
Incentive Plan based on achievement of one or more individual performance objectives or pay bonuses (including, without limitation, discretionary bonuses) to Covered Executives under the Incentive Plan based on individual performance goals and/or
upon such other terms and conditions as the Compensation Committee may in its discretion determine. 
 Individual Target Bonuses. The
Compensation Committee shall establish a target bonus opportunity for each Covered Executive for each performance period. For each Covered Executive, the Compensation Committee shall have the authority to apportion the target award so that a portion
of the target award shall be tied to attainment of Corporate Performance Goals and a portion of the target award shall be tied to attainment of individual performance objectives. 

Employment Requirement. Subject to any additional terms contained in a written agreement between the Covered Executive and the Company,
the payment of a bonus to a Covered Executive with respect to a performance period shall be conditioned upon the Covered Executive’s employment by the Company on the bonus payment date. If a Covered Executive was not employed for an entire
performance period, the Compensation Committee may pro rate the bonus based on the number of days employed during such period. 
 Timing of Payment

 With respect to Corporate Performance Goals established and measured on a basis more frequently than annually (e.g., quarterly or
semi-annually), the Corporate Performance Goals will be measured at the end of each performance period after the Company’s financial reports with respect to such period(s) have been published. If the Corporate Performance Goals and/or
individual goals for such period are met, payments will be made as soon as practicable following the end of such period. 
 With respect to
Corporate Performance Goals established and measured on an annual or multi-year basis, Corporate Performance Goals will be measured as of the end of each such performance period (e.g., the end of each fiscal year) after the Company’s financial
reports with respect to such period(s) have been published. If the Corporate Performance Goals and/or individual goals for any such period are met, bonus payments will be made as soon as practicable after the end of the relevant fiscal year. 

Amendment and Termination 
 The Company
reserves the right to amend or terminate the Incentive Plan at any time in its sole discretion.ex_110104.htm

Exhibit 10.22

 

MEDICAL MONITOR AND CONSULTING AGREEMENT

 

This Medical Monitor and Consulting Agreement ("Agreement") is entered into October 27, 2017, between Nuo Therapeutics Inc. ("NUO"), a Delaware Corporation with principal offices at 209A Perry Parkway, Suite 1, Gaithersburg, MD 20877, and Paul D. Mintz, MD ("Consultant"), located at 208 Rowledge Road, Charlottesville, VA 22903.

 

1.        Commencement of Engagement.

 

(a)  Consultant agrees to be engaged by NUO, and NUO agrees to engage Consultant to serve as Medical Monitor for NUO clinical trials (the "Consulting Service"):

 

With respect to the following NUO studies [CM-002 DFU Cohort Study, CM-003 VLU Cohort Study, CM-004 PU Cohort Study], Consultant is engaged and operating only as a Medical Monitor and is not providing any services or activities that are or would be the responsibility of a principal investigator (PI) with respect to the above listed studies. Consultant acknowledges and agrees that it is not performing any duties required of a PI under the terms of this agreement.

 

The Consultant shall provide Consulting Services beginning on Nov 1, 2017 and continuing until terminated pursuant to the provisions of Section 7 of the Agreement.

 

(b)  Consultant shall use commercially reasonable efforts to preserve the goodwill of all employees, clients, suppliers, and other persons having business relations with NUO and to perform his services in a business-like manner and in a manner that will not harm the business reputation of NUO. NUO and Consultant agree that Consultant will travel as deemed necessary and approved by NUO during the course of this Agreement in performing the Consulting Services.

 

(c)  The services rendered by Consultant hereunder shall be provided by Consultant as a consultant, and not as an employee, partner, or joint venturer of NUO.

 

(d)  Consultant shall provide Consulting Services to NUO through the performance of Paul D. Mintz, MD and shall work under the overall direction of Pete Clausen, or such other person as may be directed by NUO.

 

2.        Compensation.

 

(a)  As compensation for providing the Medical Monitor and Consulting Services to NUO, Consultant will receive compensation of $2,500.00 per month. For Consulting Services in excess of 10 hours in any month, requested by NUO and agreed to the Consultant, the Consultant will receive $400.00 per hour. The Consultant shall be covered under NUO's general liability insurance coverage, but no other insurance shall be provided to the Consultant by NUO.

 

(b)  The parties agree that NUO shall not withhold from any compensation paid to Consultant any amounts required by federal, state or local law to be paid (including without limitation federal income tax withholding, Social Security tax and Medicare tax). NUO shall report Consultant's compensation to the Internal Revenue Service on a Form 1099. Consultant shall remain solely responsible for payment of his own federal, state, and local taxes, and other withholdings, if any.

 

INDEPENDENT CONSULTING AGREEMENT      Page  1

 

 

3.        Expenses.

 

Upon presentation of reasonable documentation of expenses, the Company will promptly reimburse Consultant for all reasonable out of pocket expenses that Consultant incurs in connection with providing Consulting Services, such expenses not to exceed $2,000 in any calendar month without the prior approval of NUO.

 

4.        Limitations on Authority.

 

Consultant is an independent contractor and not an agent of NUO or any of its affiliates for any purpose whatsoever. Consultant will have no authority to, and agrees not to, assume or create any obligation or liability, express or implied, on behalf of NUO or any of its affiliates or bind NUO or any of its affiliates in any manner whatsoever. Except as provided in Section 3 of this Agreement, Consultant agrees to be liable for its own expenses.

 

5.        Representation.

 

Consultant hereby represents and warrants to NUO that its execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, does not and will not conflict with, contravene or result in a violation or breach of or default under any contract, agreement or understanding to which Consultant is a party or by which Consultant is or may be bound, including without limitation, any non-competition or similar agreement.

 

Consultant further represents that it maintains an appropriate level of professional insurance.

 

6.        Confidential Information. 

 

Consultant agrees that all matters concerning NUO or any of its affiliates provided to Consultant by NUO in connection with the Consulting Services will be treated by Consultant as Confidential Information and held in strict confidence both during and after the Consulting Term. Confidential Information means all information related to the Company's business or operations, including without limitation, client and supplier lists, data, marketing plans, projections, strategies, unpublished financial information, trade secrets or discoveries unless that information is otherwise within the public domain. Consultant shall not disclose the Confidential Information to any individual who is not an employee of NUO without written consent of NUO. Consultant further agrees that it will take all steps necessary to safeguard all Confidential Information and prevent its use, disclosure or dissemination to any other person or entity. Consultant agrees that it will only use Confidential Information in performing its services hereunder and for no other reason whatsoever.

 

7.        Termination.

 

This Agreement may be terminated by either party upon 30-days written notice.

 

INDEPENDENT CONSULTING AGREEMENT      Page  2

 

 

8.        Entire Agreement

 

This Agreement constitutes the entire Agreement of the parties and supersedes all prior and contemporaneous negotiations and agreements, oral or written. All prior and contemporaneous negotiations and agreements are deemed incorporated and merged into this Agreement and are deemed to have been abandoned if not so incorporated. No representations, oral or written, are being relied upon by either party in executing this Agreement other than the express representations of this Agreement. This Agreement cannot be changed without the express written consent of the parties.

 

9.        Miscellaneous Provisions.

 

(a)    This Agreement may not be amended or modified in any respect except by a written instrument signed by both parties hereto.

 

(b)     This Agreement and the rights and obligations of the parties hereto shall be construed and enforced in accordance with the laws of the State of Maryland.

 

(c)     The captions and section headings used herein are for the purposes of reference and convenience only, are not a part of this Agreement, and shall not be used in construing this Agreement.

 

(d)    This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and such counterparts together shall constitute one and the same document.

 

 

	
			 

				
			Consultant

			
	
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

			
	
			 

				
			By

				
			/s/ Paul D. Mintz

			
	
			 

				
			 

				
			Paul D. Mintz, MD

			
	
			 

				
			 

				
			 

			
	 	 	 
	 	 	 
	 	Nuo Therapeutics, Inc.
	 	 	 
	 	 	 
	 	By	/s/ David Jorden
	 	 	David Jorden
	 	 	CEO

 

INDEPENDENT CONSULTING AGREEMENT      Page  3

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