Document:

Exhibit
10.1

 

“FORM
OF”

 

SECURITIES
SETTLEMENT AGREEMENT

 

This SECURITIES SETTLEMENT
AGREEMENT (the “Agreement”), dated as of April 6, 2020, is by and among Taronis Technologies, Inc., a Delaware
corporation, with offices located at 300 W. Clarendon Ave. #230, Phoenix, Arizona 85013 (the “Company”) and
________________________ (“LENDER”).

 

RECITALS

 

	 	A.	LENDER
    is entitled to certain monies from the Company in the aggregate
    amount of $______________ (the “Indebtedness”) arising from that certain Promissory Note dated April 1,
    2020 by and between the Company and LENDER as amended to date (“Agreement”).

 

	 	B.	The
    Company and LENDER desire to enter into this transaction for the Company to issue at market price to LENDER
    $____________ worth of registered freely tradable shares (the “Securities”) of the Company’s common
    stock, $0.001 par value (“Common Stock”), in satisfaction of partial payment of the Indebtedness.

 

	 	C.	Contemporaneously
    with the execution of this Agreement, the Company shall file a prospectus supplement to its existing shelf registration statement
    on Form S-3, Registration No. 333-230854, with the United States Securities and Exchange Commission (the “SEC”),
    which includes the Securities (the “Registration Statement”).

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the recitals above incorporated herein by this reference and the mutual covenants contained herein
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and LENDER
hereby agree as follows:

 

1.
ISSUANCE OF COMMON STOCK IN SATISFACTION OF INDEBTEDNESS.

 

(a)
Issuance of Common Stock. In full satisfaction and in lieu of cash payment of the Indebtedness due to LENDER, the
Company shall issue to LENDER on the Closing Date (as defined below) the Securities.

 

(b)
Closing. The sale and purchase of the Securities shall take place at a closing (the “Closing”) to be
managed by the remote exchange of documents. The date and time of the Closing shall be 5:00 p.m., New York time, on the Effective
Date, or at such other time or on such other date as parties hereto may mutually agree in writing (the “Closing Date”).

 

    	1

    	 

    

 

2.
LENDER’S REPRESENTATIONS AND WARRANTIES.

 

LENDER
represents and warrants to the Company with respect to only
itself that, as of the date hereof and the Closing Date:

 

(a)
Validity; Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of LENDER
and shall constitute the legal, valid and binding obligation of LENDER enforceable against LENDER in accordance
with its terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable
creditors’ rights and remedies.

 

(b)
No Conflicts. The execution, delivery and performance by LENDER of this Agreement and the consummation by LENDER
of the transactions contemplated hereby will not (i) result in a violation of the organizational documents of LENDER
or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument
to which LENDER is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including
federal and state securities laws) applicable to LENDER, except in the case of clauses (ii) and (iii) above, for such conflicts,
defaults, rights or violations which could not, individually or in the aggregate, reasonably be expected to have a material adverse
effect on the ability of LENDER to perform its obligations hereunder.

 

3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The
Company represents and warrants to LENDER that, as of the date hereof and the Closing Date:

 

(a)
Authorization; Enforcement; Validity. The Company has the requisite power and authority to enter into and perform its obligations
under this Agreement and to issue the Securities in accordance with the terms hereof and thereof. The execution and delivery of
this Agreement by the Company, and the consummation by the Company of the transactions contemplated hereby (including, without
limitation, the issuance of the shares of Common Stock) have been duly authorized by the Company’s board of directors and
(other than (x) the filing with the SEC of the prospectus supplement to the Registration Statement, which shall occur on the date
hereof and (y) any other filings as may be required by any state securities agencies (collectively, the “Required Filings”))
no further filing, consent or authorization is required by the Company, its subsidiaries, their respective boards of directors
or their stockholders or other governing body. This Agreement has been duly executed and delivered by the Company, and constitutes
the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as
such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies
and except as rights to indemnification and to contribution may be limited by federal or state securities law.

 

    	2

    	 

    

 

(b)
Issuance of Securities. The issuance of the Securities is duly authorized and the Securities, when issued, shall be validly
issued, fully paid and non-assessable and free from all preemptive or similar rights, mortgages, defects, claims, liens, pledges,
charges, taxes, rights of first refusal, encumbrances, security interests and other encumbrances (collectively “Liens”)
with respect to the issuance thereof.

 

(c)
Registration. As of the Closing, the Securities shall have been registered under the Securities Act of 1933, as amended
(the “1933 Act”) and will be issued pursuant to the Registration Statement. As such, the Securities will be
freely transferable and freely tradable by LENDER without restriction, whether by way of registration or some exemption
therefrom. The Registration Statement and any prospectus included therein, shall comply in all material respects with the requirements
of the 1933 Act, and the documents incorporated by reference into the Registration Statement, when filed, shall comply in all
material respects with the requirements of the 1934 Act and, in each case, with the rules and regulations of the SEC promulgated
under the 1933 Act or the 1934 Act, as the case may be. At the time the Registration Statement and any amendments thereto become
effective the Registration Statement and any amendments thereto will comply in all material respects with the requirements of
the 1933 Act and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein not misleading. The prospectus contained in the Registration Statement and
any amendments or supplements thereto, at the time the prospectus or any amendment or supplement thereto is issued, will comply
in all material respects with the requirements of the 1933 Act and will not contain any untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading.

 

(c) No
Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company
of the transactions contemplated hereby (including, without limitation, the issuance of the Securities and the registration
of the Securities pursuant to the Registration Statement) will not (i) result in a violation of the Certificate of
Incorporation (as defined below) (including, without limitation, any certificate of designation contained therein), Bylaws
(as defined below), certificate of formation, memorandum of association, articles of association, bylaws or other
organizational documents of the Company or any of its subsidiaries, or any capital stock or other securities of the Company
or any of its subsidiaries, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or
both would become a default) in any respect under, or give to others any rights of termination, amendment, acceleration or
cancellation of, any agreement, indenture or instrument to which the Company or any of its subsidiaries is a party, or (iii)
result in a violation of any law, rule, regulation, order, judgment or decree (including, without limitation, foreign,
federal and state securities laws and regulations applicable to the Company or any of its subsidiaries or by which any
property or asset of the Company or any of its subsidiaries is bound or affected.

 

4.
REGISTER; TRANSFER AGENT INSTRUCTIONS; LEGEND.

 

(a)
Register. The Company shall maintain at its principal executive offices (or such other office or agency of the Company
as it may designate by notice to each holder of Securities), a register for the Securities in which the Company shall record (x)
the name and address of the person in whose name the shares of Common Stock have been issued (including the name and address of
each transferee) and (y) the aggregate number of shares of Common Stock held by such Person. The Company shall keep the register
open and available at all times during business hours for inspection of any LENDER or its legal representatives.

 

    	3

    	 

    

 

(b)
Transfer Agent Instructions. From and after the Effective Date:

 

(i)
the Company shall issue irrevocable instructions to the transfer agent set forth in Section 5(f) below and to any subsequent transfer
agent (as applicable, the “Transfer Agent”) in a form acceptable to LENDER (the “Irrevocable
Transfer Agent Instructions”) to issue certificates or credit shares to the applicable balance accounts at DTC, registered
in the name of LENDER or its respective nominee(s), for the Securities;

 

(ii)
the Company represents and warrants that no instruction other than the Irrevocable Transfer Agent Instructions referred to in
this Section 5(b) will be given by the Company to its Transfer Agent with respect to the Securities, and that the Securities shall
otherwise be freely transferable on the books and records of the Company, as applicable, to the extent provided in this Agreement;
and

 

(iii) if LENDER effects
a sale, assignment or transfer of the Securities, the Company shall permit the transfer and shall promptly instruct the Transfer
Agent to issue one or more certificates or credit shares to the applicable balance accounts at DTC in such name and in such denominations
as specified by LENDER to effect such sale, transfer or assignment.

 

(c)
Legends. Certificates and any other instruments evidencing the Securities shall not bear any restrictive or other legend.

 

(d)
FAST Compliance. From and after the Effective Date, while any shares of Common Stock remain outstanding, the Company shall
maintain a transfer agent that participates in the DTC Fast Automated Securities Transfer Program (“FAST”).

 

6.
MISCELLANEOUS.

 

(a)
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of Arizona, without giving effect to any choice of
law or conflict of law provision or rule (whether of the State of Arizona or any other jurisdictions) that would cause
the application of the laws of any jurisdictions other than the State of Arizona. The Company hereby irrevocably submits
to the exclusive jurisdiction of the state and federal courts sitting in Phoenix, Arizona, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby, and hereby irrevocably waives, and agrees
not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court,
that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding
is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such
suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall
be deemed or operate to preclude LENDER from bringing suit or taking other legal action against the Company in any other
jurisdiction to collect on the Company’s obligations to LENDER or to enforce a judgment or other court ruling in
favor of LENDER. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL
FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, OR ANY TRANSACTION CONTEMPLATED
HEREBY.

 

    	4

    	 

    

 

(b)
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document
format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.

 

(c)
Headings; Gender. The headings of this Agreement are for convenience of reference and shall not form part of, or affect
the interpretation of, this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to
include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,”
“include” and words of like import shall be construed broadly as if followed by the words “without limitation.”
The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement
instead of just the provision in which they are found.

 

(d)
Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified
continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the
prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective
expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred
upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s).

 

(e)
Entire Agreement; Amendments. Except as set forth in Section 3(d) hereof, this Agreement supersedes all other prior oral
or written agreements between LENDER and the Company contains the entire understanding of the parties solely with respect
to the matters covered herein. For clarification purposes, the Recitals are part of this Agreement and the Engagement Agreement
remains in full force and effect. No provision of this Agreement may be amended or waived other than by an instrument in writing
signed by the Company and LENDER.

 

    	5

    	 

    

 

(f)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been given and delivered: (i) upon receipt, when delivered personally;
(ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party) or electronic mail; or (iii) one (1) Business Day after deposit with an overnight courier service
with next day delivery specified, in each case, properly addressed to the party to receive the same. As used herein “Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized
or required by law to remain closed. The addresses, facsimile numbers and e-mail addresses for such communications shall be:

 

If
to the Company:

 

Taronis
Technologies, Inc.

[ADDRESS]

Telephone:

Attention:

E-Mail:

 

If
to the Transfer Agent:

 

EQ

[ADDRESS]

Telephone:

Facsimile:

Attention:

E-Mail:

 

If
to LENDER:

 

LENDER

 

[ADDRESS]

Facsimile:

Telephone:

E-mail:

Attention:

 

or
to such other address, e-mail address and/or facsimile number and/or to the attention of such other Person as the recipient party
has specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically
generated by the sender’s facsimile machine or e-mail containing the time, date, recipient facsimile number and, with respect
to each facsimile transmission, an image of the first page of such transmission or (C) provided by an overnight courier service
shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight courier service in accordance
with clause (i), (ii) or (iii) above, respectively.

 

    	6

    	 

    

 

(g)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of any of the Securities. The Company shall not assign this Agreement or any
rights or obligations hereunder without the prior written consent of LENDER. LENDER may assign some or all of its rights
hereunder in connection with any transfer of any of its Securities without the consent of the Company, in which event such assignee
shall be deemed to be LENDER hereunder with respect to such assigned rights.

 

(h)
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(i)
Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing. LENDER
shall be responsible only for its own representations, warranties, agreements and covenants hereunder.

 

(j)
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

(k)
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party. No specific representation or warranty shall
limit the generality or applicability of a more general representation or warranty. Each and every reference to share prices,
shares of Common Stock and any other numbers in this Agreement that relate to the Common Stock shall be automatically adjusted
for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions that occur with respect
to the Common Stock after the date of this Agreement through the Closing Date.

 

(l)
Remedies. LENDER, and in the event of assignment by LENDER of its rights and obligations hereunder, each
holder of Securities, shall have all rights and remedies set forth in this Agreement and all of the rights which such holders
have under the law. Any person having any rights under any provision of this Agreement shall be entitled to enforce such rights
specifically (without posting a bond or other security), to recover damages by reason of any breach of any provision of this Agreement
and to exercise all other rights granted by law. Furthermore, the Company recognizes that in the event that it fails to perform,
observe, or discharge any or all of its obligations under this Agreement, any remedy at law would inadequate relief to LENDER.
The Company therefore agrees that LENDER shall be entitled to specific performance and/or temporary, preliminary and
permanent injunctive or other equitable relief from any court of competent jurisdiction in any such case without the necessity
of proving actual damages and without posting a bond or other security. The remedies provided in this Agreement shall be cumulative
and in addition to all other remedies available under this Agreement, at law or in equity (including a decree of specific performance
and/or other injunctive relief).

 

    	7

    	 

    

 

IN
WITNESS WHEREOF, LENDER and the Company have caused their respective signature page to this Agreement to be duly executed
as of the date first written above.

 

	 	LENDER
	 	 	                     
	 	By:
    	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Securities Settlement Agreement]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, LENDER and the Company have caused their respective signature page to this Agreement to be duly executed
as of the date first written above.

 

	 	COMPANY:
	 	 	 
	 	TARONIS
    TECHNOLOGIES, INC.
	 	 	                      
	 	By:
    	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Securities Settlement Agreement]Exhibit 10.1

      

      

      

      

    

    

    

    March 25, 2020

    

    

    Douglas E. Horne

    [***]

    

    

    Dear Doug,

    

    

    On behalf of the Board of Directors (the “Board”) of Gannett Co., Inc. (the “Company”), I am pleased to offer you the position of Chief Financial Officer
      and Chief Accounting Officer of the Company. This offer letter agreement (this “Agreement”) sets forth the principal terms of your employment with the Company.

    

    

    
      
        	

              	1.	
                Position, Duties and Reporting. Effective April 7, 2020 (the “Effective Date”), you
                  will be employed by the Company and serve as the Chief Financial Officer and Chief Accounting Officer of the Company, reporting to the Chief Executive Officer, Michael E. Reed, of the Company. You will perform the duties, undertake the
                  responsibilities and exercise the authority customarily performed, undertaken and exercised by persons situated in similar executive capacities. Your principal place of employment will be the Company’s office located in McLean, Virginia.
                  You agree to devote your full professional time and attention to the business and affairs of the Company.

              

      

    

    

    

    
      
        	

              	2.	
                Employment Status. You will be an “at will” employee and, accordingly, your
                  employment may be terminated by either party at any time for any reason or no reason. You will be subject to all Company policies applicable to senior executives of the Company as in effect from time to time, including, without
                  limitation, ethics policy, insider trading policy, stock ownership guidelines, clawback, and arbitration, as the same shall be made available to you from time to time.

              

      

    

    

    

    
      
        	

              	3.	
                Base Salary. You will be paid a base salary at an annualized rate of $600,000 (“Base
                  Salary”) in accordance with the Company’s regular payroll practices in effect from time to time.

              

      

    

    

    

    
      
        	

              	4.	
                Cash Bonus. You will be eligible for an annual cash bonus based on the achievement of
                  such performance criteria as may be established by the Board or a committee thereof in accordance with the terms of the annual bonus plan applicable to senior executives of the Company as in effect from time to time. The target annual
                  bonus level for fiscal year 2020 is 100% of your base salary (pro-rated for 2020 to reflect the period following the Effective Date). For fiscal year 2020 only, the Company agrees to guarantee your pro-rated annual bonus. Notwithstanding
                  the foregoing, the Company may modify or terminate this plan at any time, at the Company’s sole discretion.

              

      

    

    

    

    
      
        	

              	5.	
                Initial Equity Award. No later than sixty (60) days following the Effective Date, the
                  Board or a committee thereof will grant you an initial equity award for a number of shares of restricted stock calculated as $500,000, divided by an assumed per share price of $6.00 (rounded down to the nearest whole share, the “Initial
                  Grant”), pursuant to one of the Company’s omnibus equity plans. The Initial Grant will vest in equal installments over three years on the anniversary of the grant date and shall otherwise be subject to the standard terms and conditions
                  applicable to restricted stock awards granted to employees of the Company.

              

         

        

      

    

    
      

      

      
        	

              	
                Gannett Co., Inc.  •  7950 Jones Branch Drive  •  McLean, VA  22107  •  gannett.com

              	
                 

              

      

    

    
      

      
        

      

    

    
    
      
        	

              	6.	
                Long-Term Incentive. You will be eligible for a long-term incentive compensation
                  award target of 100% of your base salary with respect to fiscal year 2020.  Such award will be comprised of restricted stock and will have terms and conditions as are determined by the Company as soon as practicable following the
                  Effective Date.

              

      

    

    

    

    
      
        	

              	7.          	Paid Time Off.          	During your employment, you will be entitled to paid time off (“Paid Time Off”) in accordance with the Company’s
                policies then in effect for senior executives of the Company.

      

    

    

    

    
      
        	

              	8.	
                Benefits. You will be entitled to participate in all employee benefit plans,
                  practices and programs maintained by the Company and its affiliates on the same basis and terms as are applicable to senior executives of the Company. The Company reserves the right to review,

              

      

    

    

    

    amend and/or terminate its benefit plans and compensation practices from time to time in accordance with their terms. In addition, you
      will be entitled to participate in the Company’s typical executive level relocation program, as you plan to relocate from your current residence in the greater New York City area (Darien, CT) to Gannett’s McLean, VA headquarters.

    

    

    
      
        	

              	9.	
                Severance. If your employment is terminated by the Company other than for Cause or is
                  terminated by you for Good Reason (as such terms are defined in the Change in Control Plan), then, subject to Section 15, you shall be entitled to, upon providing the Company with a signed release of claims in a form adopted by the Board
                  from time to time and subject to your continued compliance with the provisions hereof: the sum of your annualized base salary and cash bonus for the most recently completed fiscal year, or, for 2020 only, the sum of your annualized base
                  salary and target bonus for fiscal year 2020, payable in twenty-six equal bi-weekly installments on days coinciding with the Company’s scheduled pay days. You acknowledge that the Company may terminate you without Cause at any time, and
                  that the Company shall have no obligations under such circumstances to you beyond the specific obligations set forth in this Section 9.

              

      

    

    

    

    
      
        	

              	10.	
                Change in Control. The Board or a committee thereof will recommend to the Board your
                  designation as a “Participant” in the 2015 Change in Control Severance Plan (the “Change in Control Plan”). For purposes of the Change in Control Plan, (i) your “Multiplier” will be two (2), and (ii) if you are eligible to receive the
                  severance benefits and amounts provided in Section 7(b) of the Change in Control Plan prior to January 1, 2021, then the “average annual bonus” described in clause (B) of “Annual Compensation” (within the meaning of Section 7(b)(ii) of
                  the Change in Control Plan) will equal your target annual bonus.

              

      

    

    

    

    
      
        	

              	
                Gannett Co., Inc.  •  7950 Jones Branch Drive  •  McLean, VA  22107  •  gannett.com

              	
                 2

              

      

      
        

      

    

    
      
        	

              	11.	
                Solicitation of Employees, Etc. You agree that during the period of your employment
                  with the Company and for the one (1) year period immediately following the date of termination of your employment with the Company for any reason, you shall not, directly or indirectly, (i) solicit or induce any officer, director,
                  employee, agent or consultant of the Company or any of its successors, assigns, subsidiaries or affiliates to terminate his, his or its employment or other relationship with the Company or its successors, assigns, subsidiaries or
                  affiliates for the purpose of associating with any competitor of the Company or its successors, assigns, subsidiaries or affiliates, or otherwise encourage any such person or entity to leave or sever his, his or its employment or other
                  relationship with the Company or its successors, assigns, subsidiaries or affiliates, for any other reason or (ii) hire any individual who left the employ of the Company or any of its affiliates during the immediately preceding one-year
                  period.

              

      

    

    

    

    
      
        	

              	12.	
                No Conflicts; Indemnification. You hereby represent that you are not party to any
                  agreement or understanding of any kind, including without limitation any noncompetition or confidentiality agreements, which would in any way restrict or prohibit you from being employed by the Company or its affiliates or performing your
                  duties hereunder. You hereby agree to indemnify, defend and hold the Company harmless from any claims, losses, costs or expenses incurred by the Company or any of its affiliates as a result of your breach of the foregoing representation.
                  You acknowledge that the Company has informed you that you are not to use or cause the use of any confidential or proprietary information from any prior employer in any manner whatsoever in connection with your employment by the Company.
                  During the course of your employment, the Company shall maintain director and officer liability insurance (“D&O Insurance”) under which you shall be covered to the fullest extent permissible under the Company’s D&O Insurance
                  policy or policies.

              

      

    

    

    

    
      
        	

              	13.	
                Notice. For the purposes of this Agreement, notices and all other communications
                  shall be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested, postage prepaid, addressed to the respective addresses last given by one party to another party
                  or, if none, in the case of the Company, to the Company’s headquarters directed to the attention of the General Counsel of the Company and, if to you, to the most recent address shown in the personnel records of the Company. All notices
                  and communications shall be deemed to have been received on the date of delivery thereof.

              

      

    

    

    

    
      
        	

              	14.	
                Withholding. The Company shall be entitled to withhold (or to cause the withholding
                  of) the amount of all taxes it determines to be required to be withheld with respect to any amount paid to you hereunder.

              

      

    

    

    

    
      
        	

              	15.	
                Code Section 409A. The parties intend for the payments and benefits under this
                  Agreement to be exempt from Section 409A or, if not so exempt, to be paid or provided in a manner which complies with the requirements of such section. For purposes of the limitations on nonqualified deferred compensation under Section
                  409A, each payment of compensation under this Agreement shall be treated as a separate payment of compensation. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation
                  and/or tax penalties under Section 409A amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this Agreement during the six-month period immediately following your separation from service shall
                  instead be paid on the first business day after the date that is six months following your termination date (or death, if earlier).

              

      

    

    

    

    
      
        	

              	
                Gannett Co., Inc.  •  7950 Jones Branch Drive  •  McLean, VA  22107  •  gannett.com

              	
                 3

              

      

      
        

      

    

    
      
        	

              	16.	
                Entire Agreement; Certain Acknowledgments and Representations. This Agreement
                  constitutes the entire agreement between you and the Company and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between you and the Company with respect to the subject matter hereof, including
                  without limitation any term sheets or other similar presentations. You acknowledge that you have had an opportunity to review and understand the terms of this Agreement. No statement, representation, warranty or covenant has been made by
                  either party except as expressly set forth herein. This Agreement shall not be altered, modified, or amended except by written instrument signed by each of the parties hereto. You hereby acknowledge that you have read and understand this
                  Agreement, are fully aware of its legal effect, have not acted in reliance upon any representations or promises made by the Company other than those contained in writing herein, and have entered into this Agreement freely based on your
                  own judgment. You acknowledge that you have had the opportunity to consult with legal counsel of your choice in connection with the drafting, negotiation and execution of this Agreement. You have represented to the Company and you hereby
                  further represent that you have not engaged in sexual harassment and that, to your knowledge, you have not been accused of sexually harassing any person.

              

      

    

    

    

    
      
        	

              	17.	
                Successors and Assigns. This Agreement shall be binding upon and shall inure to the
                  benefit of the Company, its successors and permitted assigns and the Company shall require any successor or assign to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be
                  required to perform if no such succession or assignment had taken place. The Company may not assign or delegate any rights or obligations hereunder except to a successor (whether direct or indirect, by purchase, merger, consolidation or
                  otherwise) to all or substantially all of the business and/or assets of the Company. Neither this Agreement nor any right or interest hereunder shall be assignable or transferable by you, your beneficiaries or legal representatives,
                  except by will or by the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by your legal personal representatives.

              

      

    

    

    

    
      
        	

              	18.	
                Condition Precedent. The terms provided in this Agreement are subject to the approval
                  of the Board or a committee thereof, and the offer set forth in this Agreement shall be null and void in the event that such approvals do not occur.

              

      

    

    

    

    
      
        	

              	19.	
                Governing Law. This Agreement shall be governed by and construed and enforced in
                  accordance with the laws of the Commonwealth of Virginia without giving effect to the conflict of law principles thereof.

              

      

    

    

    

    
      
        	

              	
                Gannett Co., Inc.  •  7950 Jones Branch Drive  •  McLean, VA  22107  •  gannett.com

              	
                 4

              

      

      
        

      

    

    
      
        	

              	20.	
                Counterparts. This Agreement may be executed in several counterparts, each of which
                  shall be deemed to be an original, but all of which together will constitute one and the same Agreement. Signatures delivered by facsimile or in .pdf format shall be deemed effective for all purposes.

              

      

    

    

    

    
      
        	

              	
                Gannett Co., Inc.  •  7950 Jones Branch Drive  •  McLean, VA  22107  •  gannett.com

              	
                 5

              

      

      
        

      

    

    Please confirm your agreement to the forgoing by signing the enclosed copy of this letter and returning it to the undersigned.

    

    

    	 	
            Sincerely,

          
	 	 
	 	
            GANNETT CO., INC.

          
	 	 
	 	
            By: /s/ Michael E. Reed

          
	 	
            Name: Michael E. Reed

          
	 	
            Title: CEO

          
	
            Accepted and Agreed to:

          	 
	 	 
	
            By: /s/ Douglas E. Horne

          	 
	
            Name: Douglas E. Horne

          	 
	
            Date: 3/25/2020

          	 

    

    

    

    

    

    

  

  
    	

          	
            Gannett Co., Inc.  •  7950 Jones Branch Drive  •  McLean, VA  22107  •  gannett.com

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]