Document:

nptn_Ex_10_44

		
			Exhibit 10.44
		

		
			FIRST LEASE AMENDMENT
		

		
			THIS FIRST LEASE AMENDMENT (“Agreement”) is being made and entered into as of the 20th day of February, 2014 (the “Effective Date”), by and between The Kaye Building, LLC, a California limited liability company (“Landlord”), and NeoPhotonics Corporation, a Delaware corporation (“Tenant”), successor-in-interest to Santur Corp., a Delaware corporation (“Former Tenant”).
		

		
			RECITALS
		

			
	
			
				 A.
			

			
	
			
			Landlord and Tenant are parties to that certain Office Lease dated March 7, 2001 (“Original Lease”) by and between Landlord and Former Tenant, which Original Lease was further amended by that certain Lease Addendum executed by Tenant on October 31, 2010 (the “Addendum,” and together with the Original Lease are collectively referred to herein as the “Existing Lease”).

			
	
			
				 B.
			

			
	
			
			Tenant currently leases approximately 19,175 rentable square feet (the “Premises”) within the building commonly known as 40931 Encyclopedia Circle, Fremont, California (the “Building”).

			
	
			
				 C.
			

			
	
			
			The term of the Existing Lease (the “Lease Term”) currently expires on June 30, 2016.  Tenant desires to renew the term of the Lease for an additional eighty-four (84) months.   Landlord and Tenant agree to the extension of term and further amend the Existing Lease as hereinafter provided.  The Existing Lease, as amended by this Agreement, shall be hereinafter referred to as the “Lease”.  Capitalized terms not otherwise defined in this Agreement shall have the meaning given to such terms in the Existing Lease.

		
			NOW, THEREFORE, IN CONSIDERATION of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows:
		

			
	
			
				 1.
			

			
	
			
			Lease Term.  The Lease Term is hereby extended for an additional period of eighty-four (84) months commencing on July 1, 2016 (the “Extension Commencement Date”), and expiring on June 30, 2023 (The “Extended Expiration Date”).  

		 

 

			
	
			
				 2.
			

			
	
			
			Monthly Base Rent:  Commencing as of January 1, 2014 through the Extended Expiration Date, Base Monthly Rent for the entire Premises shall be as set forth in the following schedule:

			
					
						Period

					
					
						Base Monthly Rent

				
	
					
						01/01/2014 – 06/30/2016

					
					
						$8,715.00

				
	
					
						07/01/2016 – 06/30/2017*

					
					
						$12,799.31

				
	
					
						07/01/2017 – 06/30/2018

					
					
						$13,183.29

				
	
					
						07/01/2018 – 06/30/2019

					
					
						$13,578.79

				
	
					
						07/01/2019 – 06/30/2020

					
					
						$13,986.15

				
	
					
						07/01/2020 – 06/30/2021

					
					
						$14,405.74

				
	
					
						07/01/2021 – 06/30/2022

					
					
						$14,837.91

				
	
					
						07/01/2022 – 06/30/2023

					
					
						$15,283.05

				

		
			* Notwithstanding the Base Monthly Rent schedule above, Tenant shall be entitled to a one-time base rent abatement in the amount of $8,684.99 for the month of November, 2016 and the Base Monthly Rent due on November 1, 2016 shall be $4,114.32.  This abatement shall not affect the calculation or payment of the Commission, as defined below, which will be calculated as if the November 2016 were the full $12,799.31 listed above.
		

			
	
			
				 3.
			

			
	
			
			Condition of Premises.  On the Extension Commencement Date, Tenant shall accept the Premises in their “AS-IS” condition without any representation or warranty from Landlord.

			
	
			
				 4.
			

			
	
			
			Renewal Option.  

			
	
			
				 (a)
			Provided Tenant is not in default beyond applicable notice and cure periods or any term or provision contained in the Lease at the time of Tenant’s delivery of a notice of exercise of its Renewal Option (as defined below), Tenant or an Affiliate (as defined below) shall have the right and option (the “Renewal Option”) to renew the term of the Lease, by written notice delivered to Landlord not more than 365 days or less than 180 days prior to the expiration of then current term, for three additional terms (each, a “Renewal Term”) of three (3) years each such Renewal Term under the same terms, conditions and covenants contained in the Lease, except that the Base Monthly Rent shall be equal to the Fair Market Rent (as defined below).  

		 

 

			
	
			
				 (b)
			For purposes of this Section 4, “Fair Market Rent” shall mean the rental rate per square foot for industrial and R&D space comparable to the Premises in building type and age in the Fremont area of Alameda County, California for leases being entered into at or about the time the determination is being made and adjusted to reflect the change if any, in market rates being experienced indicating the rates at or about this time of the commencement of the applicable Renewal Term, taking into account and being adjusted for tenant concessions, brokerage commissions, tenant improvement allowances, existing improvements in the Premises (where Landlord does not have the right to have Tenant remove) as compared to the market comparables, the method of allocating and who pays for operating expenses and taxes, and the term of the lease being compared in relation to such Renewal Term.

			
	
			
				 (c)
			Within ten (10) days of the parties determining by giving written notice from either party to the other that they cannot agree on the Fair Market Rent, each shall specify in writing to the other the name and address of a person to act as the appraiser on its behalf.  Each such person shall be a certified MAI appraiser or commercial real estate broker with at least ten (10) years of experience with the prevailing market rents for the area in which the Premises are located.  If either party fails to timely appoint an appraiser, the determination of the timely appointed appraiser shall be final and binding.  The two appraisers shall have thirty (30) days from the day of their respective appointments (the “Determination Period”) to make their respective determinations and agree on the Fair Market Rent.  If the two appraisers selected by the Landlord and Tenant cannot reach agreement on the Fair Market Rent, such appraisers shall within five (5) business days jointly appoint an impartial third appraiser with qualifications similar to those of the first two appraisers, and the Fair Market Rent shall be established by the three appraisers in accordance with the following procedures: The appraiser selected by each party shall state in writing his determination of the Fair Market Rent, which determination will provide for periodic adjustments to the Base Monthly Rent if such appraiser believes that such adjustments are appropriate.  The first two appraisers shall arrange for the simultaneous delivery of their determinations to the third appraiser no later than ten (10) days after the expiration of the Determination Period.  The role of the third appraiser shall be to select which of the two proposed determinations most closely approximates the third appraiser's determination of the Fair Market Rent, and shall have no more than ten (10) days in which to select the final determination.  The determination chosen by the third appraiser shall constitute the decision of the appraisers and be final and binding on the parties.  Each party shall pay the cost of its own appraiser and shall share equally the cost of the third appraiser

		 

 

			
	
			
				 (d)
			Upon exercise of the Renewal Option by Tenant and subject to the conditions set forth herein above, Landlord and Tenant shall enter into a written agreement modifying and supplementing the Lease in accordance with the provisions hereof.  Any termination of the Lease prior to the Extended Expiration Date shall terminate all renewal rights hereunder.  If Tenant does not exercise the first Renewal Option, the remainder Renewal Options shall automatically terminate, and if Tenant does not exercise the second Renewal Option, the third Renewal Option shall automatically terminate.  The renewal rights of Tenant hereunder (or any Affiliate) shall not be severable from the Lease, nor may such rights be assigned, subleased or otherwise conveyed in connection with any permitted sublease or assignment of Lease.

		
			Tenant acknowledges that the Option outlined in Paragraph 4 of the Addendum is hereby deleted and replaced in its entirety with the Renewal Options set forth in this Section 4.
		

			
	
			
				 5.
			

			
	
			
			Affiliate Transfers.  Notwithstanding Article 14 of the Original Lease to the contrary, Tenant may, without Landlord’s consent, sublet the Premises or assign the Lease to (each, an “Affiliate”):  (i) a subsidiary, affiliate, division or corporation controlling, controlled by or under common control with Tenant; (ii) a successor corporation related to Tenant by merger, consolidation, nonbankruptcy reorganization, or government action; or (iii) an entity which acquires all or substantially all of Tenant’s assets or stock.  Any Affiliate is subject to the same terms as Tenant described in the Existing Lease and this Agreement, specifically including the Early Termination and Brokerage Fees sections below.

			
	
			
				 6.
			

			
	
			
			Early Termination.  Notwithstanding anything to the contrary contained in the Existing Lease, as amended in this Agreement, but subject to the provisions of this Section 6, Tenant shall have the ongoing option (the "Termination Option") to terminate this Lease effective as of the date designated by Tenant in Tenant's Termination Notice (as defined below), which termination date (the "Termination Date") must not be earlier than June 30, 2019.  To exercise the Termination Option, Tenant must deliver to Landlord on or before the date which is 180 days prior to the Termination Date:  (a) written notice of Tenant's exercise of such Termination Option (the "Termination Notice") designating such Termination Date; and (b) cash in the amount equal to the Termination Consideration (as defined below).  As used herein, the "Termination Consideration" shall mean an amount equal to the unamortized portion of the brokerage commissions paid or incurred by Landlord in connection with this Agreement (the "Brokerage Commissions"), calculated on a straight line basis over the eighty-four (84) month of the extension term contemplated by this Agreement.  If Tenant properly and timely exercises the Termination Option, this Lease shall terminate at midnight on the Termination Date, and Tenant shall vacate and surrender exclusive possession of the Premises to Landlord on or prior to the Termination Date in accordance with the applicable surrender provisions of the Lease.  Notwithstanding the foregoing to the contrary, at Landlord's option, and in addition to all of Landlord's remedies under this Lease, at law and/or in equity, Tenant's Termination Option shall not be properly exercised if as of the date Tenant delivers Tenant's Termination Notice to Landlord Tenant is in default under this Lease beyond the expiration of any applicable notice and cure periods.  In addition, the Termination Option:  (A) is personal to the original Tenant executing this Agreement (the "Original 

		 

 

	Tenant") and any Affiliate to which Tenant's entire interest in this Lease (including the Termination Option) has been assigned; (B) may only be exercised by the Original Tenant or such Affiliate, as the case may be; and (C) may not be assigned or transferred to any other person or entity.

			
	
			
				 7.
			

			
	
			
			Notices.  Effective as of date of this Agreement, Section S of the Summary of Basic Lease Terms in the Original Lease is hereby amended to reflect that notices to Tenant shall be addressed as follows:

		
			NeoPhotonics Corporation
2911 Zanker Road
San Jose, CA 95134

Attention:  Tim Jenks
		

			
	
			
				 8.
			

			
	
			
			Brokerage Fees.  Landlord acknowledges that Jones Land LaSalle (“Broker”) represents Tenant in connection with this Agreement and agrees that Broker is entitled to a commission of $58,844.55 (5% of base rent for 84 months) (the “Commission”).

		
			The Commission shall be paid as follows: Commencing on February 1, 2014 and on the first day of each month thereafter through and including December 1, 2014, Tenant shall advance payment to Broker on behalf of Landlord $4,559.96 per month for a total sum of $50,159.56 (the “Commission Payments”). The Commission Payments shall satisfy Landlord’s obligations to pay the Commission to Broker and shall be deemed to be a loan to Landlord, to be repaid by Landlord to Tenant in one lump sum on July 1, 2016.  If Landlord fails to repay the entire Commission Payments to Tenant on or before July 1, 2016, Tenant may offset the unpaid balance of the Commission Payments as a credit against the next installment(s) of Base Monthly Rent becoming due, without any notice or demand, until the entire sum of Commission Payments is paid back in full.    
		

			
	
			
				 9.
			

			
	
			
			Miscellaneous.  

			
	
			
				 (a)
			Except as herein modified or amended, the provisions, conditions and terms of the Existing Lease shall remain unchanged and is ratified by Landlord and Tenant, republished and confirmed as being binding upon the parties and in full force and effect.

			
	
			
				 (b)
			In the event of any inconsistency between the provisions of the Existing Lease and this Agreement, the provisions of this Agreement shall govern and control.

			
	
			
				 (c)
			Each signatory of this Agreement represents hereby that he or she has the authority to execute and deliver the same on behalf of the party hereto for which such signatory is acting.  

		 

 

			
	
			
				 (d)
			This Agreement may be executed in counterparts and shall constitute an agreement binding on all parties notwithstanding that all parties are not signatories to the original or the same counterpart provided that all parties are furnished a copy or copies thereof reflecting the signature of all parties.  Transmission of a facsimile or by email of a pdf copy of the signed counterpart of this Agreement shall be deemed the equivalent of the delivery of the original, and any party so delivering a facsimile or pdf copy of the signed counterpart of this Agreement by email transmission shall in all events deliver to the other party an original signature promptly upon request.

		
			IN WITNESS WHEREOF, the parties hereto have entered into this First Lease Amendment as of the date first written above.
		

			
					
						
a Delaware corporation

					
					
						
a California limited liability company

					
						 

					
						 

				
	
					
						TENANT:

					
						NeoPhotonics Corporation,
a Delaware corporation

					
					
						LANDLORD:

					
						The Kaye Building, LLC,
a California limited liability company

					
						 

				
	
					
						    /s/ Tim S. Jenks          

					
						By: Tim S. Jenks

					
						Its: CEO

					
					
						    /s/ Jonathan W. Kaye                         

					
						By: Jonathan W. Kaye

					
						Its: General PartnerEX-10.7

 Exhibit 10.7 

EMPLOYMENT AGREEMENT 

by and between 

CONTRAFECT CORPORATION 

and 
 DANIEL E. COUTO

 THIS EMPLOYMENT AGREEMENT (the “Agreement”) is entered into on the latest date set forth on the signature pages hereto, by
and between ContraFect Corporation, a Delaware corporation (“Employer”) and Daniel E. Couto, a resident of Massachusetts (“Employee”). 

WHEREAS, Employer is a biotech company engaged in the business of developing products for approval and sale; 

WHEREAS, Employee is a research scientist with knowledge and experience in the area of developing products in the biotech field for approval
and sale; 
 WHEREAS, Employer believes that the future services of Employee will be of substantial benefit to Employer and desires to
assure itself of the continued availability of such services; and 
 WHEREAS, Employee desires to accept employment with Employer on the
terms and subject to the conditions hereinafter stated. 
 NOW, THEREFORE, for and in consideration of the premises above and the mutual
promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Employment and Duties of Employee. 
 (a)
Employer hereby employs Employee to serve Employer in the capacity of Vice President of Product Development. Employer shall have the power to determine the precise duties of Employee as they may change over time and as Employer’s needs shall
warrant. Employee agrees to devote Employee’s full working time, attention, ability, skill and energies to the performance of Employee’s duties 

 
hereunder. Employee shall provide professional services on behalf of Employer in a manner and to an extent consistent with that established by Employer. Employee shall work at all
locations/offices of Employer as requested by Employer, and upon Employer’s request shall travel as needed to carry out his duties. Employee shall not provide like services for any other entity or person, whether for compensation or not, except
as an employee of Employer. 
 (b) Employee shall comply with all bylaws, policies, procedures, standards and regulations of Employer now or
hereafter promulgated. Employee shall participate in such continuing education as may be required under applicable ethical or licensing standards, laws, rules and regulations applying to Employee’s profession or as may otherwise be required by
Employer. Employee shall obtain and maintain all required licenses, credentials, approvals or other certifications to perform Employee’s duties and services hereunder. 

(c) Employee shall disclose in writing to Employer on the date hereof all financial interests or compensation arrangements of Employee (other
than this Employment Agreement) and any member of Employee’s Immediate Family (as hereinafter defined), including without limitation, any financial interests or compensation arrangements (as owner, employee, lessor, lessee, independent
contractor, or otherwise) in any Biotech Venture (as hereinafter defined) (such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). 

(i) Biotech Venture shall mean and include without limitation, any entity or person that develops or sells, researches, or licenses scientific
information or products for the therapy of human diseases. 
 (ii) Immediate Family shall mean Employee’s spouse, parent, child,
sibling, grandparent, and grandchild. 
 Employee shall not enter into any Arrangements with any Biotech Venture without the prior written
consent of Employer. In the event that there is a change in any Arrangement, or if any member of Employee’s Immediate Family enters into an Arrangement during the term of this Agreement, Employee shall immediately disclose such Arrangement to
Employer. 
 2. Hours and Place of Employment. Employee is expected to maintain a regular work week as assigned by the Employer for employees at his
level performing such duties. Until such time as Employee moves to New York City, without the Employer’s instruction to do so he shall work no less than three days per week at the Employer’s offices in New York unless otherwise instructed
by Employer. Employee, as a condition of his continued employment, shall relocate to New York on or by April 15, 2011 so that he can be a full time employee working at Employer’s offices. 

  
 2 

 3. Term of Employment. The initial term of employment (the “Initial Term”) of Employee’s
employment by Employer under this Agreement shall commence on March 5, 2011 (the “Commencement Date”) and shall end three (3) years thereafter, unless earlier terminated as hereinafter provided. Unless either party elects to
terminate this Agreement at the end of the Initial Term or any renewal term by giving the other party notice of such election at least ninety (90) days before the expiration of the Initial Term, this Agreement shall be deemed to have been
renewed for an additional term of one (1) year commencing on the day after the expiration of the then current term and so on from year to year. Notwithstanding the foregoing, either party shall have the right to terminate this Agreement at any
time for any reason or no reason upon thirty (30) days’ prior written notice. In the event that Employer or Employee gives notice to terminate pursuant to the foregoing sentence, Employer may elect to have Employee cease working
immediately so long as Employer continues to pay Employee his base salary in accordance with the provisions of Section (4)(a) hereof for the entire thirty (30) day notice period. In the event Employer elects to have Employee immediately
cease working during the thirty (30) days notice period as provided in the foregoing sentence and Employee finds alternative employment that is not in violation of any provision herein, Employee may accept and engage in the alternative
employment and upon Employee’s first date of employment with the alternative employer, Employer shall terminate the payment of Employee’s base salary as provided in subsection 4(a). In the event that Employee is terminated by Employer
without cause then in such event Employee shall be given a severance payment in the amount that is equal to twelve (12) months of his then base salary provided that Employee first signs a Severance and Release Agreement in a form prescribed by
Employer. The aforesaid severance payment shall be paid over twelve (12) months and shall be subject to mitigation by Employee. 
 4. Compensation of
Employee. 
 (a) As compensation for all services to be performed by Employee from and after the Commencement Date, Employer agrees to
pay to Employee a base salary of Two Hundred Ten Thousand Dollars ($210,000.00) per annum. All such payments shall be prorated for any partial month or year and shall be payable in accordance with Employer’s customary payroll practices for
Employees. Federal income taxes, social security taxes and other customary employee payroll deductions shall be deducted from all amounts paid to Employee as compensation under this Employment Agreement. The Employer shall review Employee’s
performance after he has worked on a full time basis for six months at which time it will consider increasing his base salary to thereafter be $220,000. Employer will review Employee’s performance annually at which time Employee’s base
salary may subsequently be changed. 

  
 3 

 (b) Effective as of the Commencement Date Employer shall give Employee stock options for 100,000
shares of common stock under its stock option plan which will provide, among other things, for vesting in three near equal annual increments at a $1.29 per share strike price. Such options shall have a duration of 10 years. The stock option plan
provides, inter alia, that unvested options shall be forfeited in the event that Employee is no longer an employee as of the vesting date. 

(c) The Employee also may qualify for a bonus based on the following criteria. During the first sixteen (16) months of this Agreement,
(i) a bonus in the amount of 15% of the then base salary upon an IND application that is approved of by the CEO being filed with the FDA; and (ii) a bonus in the amount of 5% of the then base salary upon the delivery of material for
toxicology. Each bonus, if any, shall be paid 50% in cash and 50% as options derived from The Company’s Incentive stock option plan. Such options shall have a duration of 10 years and vest over a period of 3 years as described in 4(b) with an
exercise price at the fair market value on the date of approval by the Board of Directors. Employer shall review Employee’s performance annually with a view towards setting criteria for possible additional bonus arrangements. 

(d) Employee shall be entitled to participate in such fringe benefit programs as Employer may offer to its senior employees generally,
including family health and life insurance, at Employer’s expense. The Employer’s current health insurance plan is with Empire Blue Cross/Blue Shield and also includes optical and dental coverage. However, Employer may amend, decrease or
discontinue any benefit program at any time without advance notice to or consent of the Employee, consistent with the manner in which Employer changes the benefit programs for other similarly situated employees of Employer. 

5. Absences and Vacation. Paid time off for vacations and sick days shall be limited to an aggregate of seventeen (17 days) per annum during the term of
this Agreement, which shall be in addition to legal holidays. Except as to sick days, time off shall be taken at a time reasonably convenient to Employer. In the event Employee’s employment terminates prior to the end of the term hereof, such
entitlement shall be prorated. Any unused time off at the end of any annual term of this Agreement shall not entitle Employee to payment therefor and may not be carried forward into any subsequent period of employment. 

  
 4 

 6. Expenses. 

(a) In addition to the compensation payable to Employee under Section 4, Employer agrees to reimburse Employee for up to Twenty-Five
Thousand Dollars ($25,000.00) of actual expenses incurred by Employee to transfer his household to New York City (permitted expenses hereunder include, but are not limited to, costs such as: contractual obligations for Employee’s
children’s school term through June 2011, temporary housing needs for the time between Employee’s home in Boston (March 31) and when Employee can occupy his new home in New York State, health care premium charges for Employee’s Boston
based health insurance plan for the period of March 15 to April 15, 2011) and an additional amount, up to $6,000 for Employee to take his family on up to three trips to New York in search of housing including the rental of a car. Such
payments will be made subject to the submission of receipts for expenses. The amount of unused expenses, if any, will not be paid to Employee and may not be carried forward for use in future years. Such reimbursement shall be made upon presentation
of receipts satisfactory to Employer for expenses actually incurred in connection with the foregoing. 
 7. Termination Other Than For Cause. 

(a) In the event of Employee’s death, Employee’s employment shall terminate immediately and Employee’s estate shall be paid
Employee’s base salary and accrued bonus, if any, through the date on which such death occurred. 
 (b) If Employee becomes unable to
perform the essential functions of Employee’s duties (with reasonable accommodation, if requested) due to partial or total disability or incapacity resulting from a mental or physical illness or injury or any similar cause, Employer will
continue the payment of Employee’s base salary pursuant to Section 4(a) for a period of two (2) weeks or for the duration of any accrued and unused vacation, whichever is longer, following the work day that Employee first is unable to
perform the essential functions of Employee’s duties due to such disability or incapacity. Thereafter, Employer shall have no obligation for the payment of Employee’s base salary pursuant to Section 4(a) to Employee during the
continuance of such disability or incapacity. Notwithstanding anything to the contrary contained herein, Employee shall not be entitled to receive base salary pursuant to this subsection 8(b) for more than thirty (30) days, or such additional
days if the Employee shall have accrued and unused vacation, in any consecutive twenty-four (24) month period. If Employee is unable to perform the essential functions of Employee’s duties (with reasonable accommodation, if requested) due
to partial or total disability or incapacity resulting from a mental or physical illness or any similar cause for the longer of a period of sixty (60) consecutive days or for a cumulative period of sixty (60) days during any twelve
(12) month period or the maximum period of time required under the federal Family Medical Leave Act (“FMLA”) or other applicable law, Employer shall have the right to terminate this Agreement immediately after the expiration of the
later of the sixtieth (60th) day of disability or exhaustion of available unpaid leave under FMLA or other applicable law, without the requirement of any further notice, in which event Employer shall have no further obligations or liabilities
hereunder after the date of such termination. 

  
 5 

 8. Termination For Cause. 

(a) Employee’s employment under this Agreement shall be deemed to be terminated upon the occurrence of any of the following, at
Employer’s election, immediately upon Employer giving written notice of such termination to Employee: 
 (i) Employee’s conviction
of any felony or a crime involving moral turpitude. 
 (ii) Employee’s failure or refusal to follow, in any material respect, the
instructions of Employer or the bylaws, policies, standards or regulations of Employer, which from time to time may be established or changed, and such failure or refusal is not cured within fifteen (15) days of receiving written notice of such
violation from Employer. 
 (iii) Employee’s continued failure or refusal to faithfully and diligently perform, in any material
respect, the usual and customary duties of Employee’s employment hereunder, and such failure or refusal is not cured within fifteen (15) days of receiving written notice of such violation from Employer. 

(iv) Employee’s conduct is unprofessional, unethical, immoral or fraudulent and such conduct is not cured within fifteen (15) days
of receiving written notice to cure such conduct from Employer. 
 (v) Employee’s conduct is detrimental to the reputation, character
or standing of Employer. 
 (vi) Unlawful use by Employee of narcotics or other controlled substances, or use of alcohol or other drugs in a
manner Employer reasonably determines interferes with the performance of the essential functions of Employee’s duties hereunder. 

(xxii) Employee’s failure or refusal to behave in a courteous, respectful and helpful manner toward third parties or co-workers and such
behavior is not cured within ten (10) days of receiving notice to cure such behavior from Employer. 
 (xiii) Any written notice under
this Section 9(a) shall specify the alleged violations in sufficient detail as to apprise Employee of the default or failure. 

  
 6 

 (b) In the event that Employer fails to pay Employee any installment of the base salary owed to
Employee under Section 4(a) or (b) when it is due and such non-payment is not cured within fifteen (15) days after Employee shall have notified Employer in writing of such non-payment, then Employee, provided that Employee is not in
default with respect to any of Employee’s obligations under this Agreement, shall have the option to terminate Employee’s employment under this Agreement immediately upon Employee giving written notice of such termination to Employer. 

9. Proprietary and Confidential Information. 

a. Confidential Information. Employee acknowledges that, during the course of his service with Employer, he will have access to Confidential
Information and materials not generally known outside Employer. For all purposes of this Agreement, “Confidential Information” means all information and materials (whether conceived or developed by Employee or others), marketing and other
business plans, customers and customer information, data strategies, research, reports, copyrights and patents related to Employer. During the Term of this Agreement, Employee shall not, without the prior consent of Employer, communicate or divulge
any Confidential Information or materials to anyone other than Employer and its partners, affiliates, employees, consultants and those designated by it except in the course of carrying out his duties or as required by law. Employee acknowledges that
Confidential Information is and shall remain the property of Employer. The confidentiality obligations hereunder shall not apply to Confidential Information which: (i) is, or later becomes, public knowledge other than by breach of this
Agreement; or (ii) is in the possession of Employee with the full right to disclose same prior to his receipt of it from Employer; or (iii) is independently received by Employee from a third party, with no restrictions of disclosure.
Furthermore, Employee agrees not to use Confidential Information for any purposes other than to perform duties for Employer hereunder. Employee shall also execute Employer’s standard Confidentiality Agreement. 

b. Ownership of Patents and Intellectual Property. Employee agrees that any work prepared for Employer from the date of this Agreement until
the expiration of his employment with Employer, which is eligible for copyright and patent protection under the laws of the United States or any other country and any proprietary know-how developed by Employee while rendering services for Employer,
will vest in Employer. Employee hereby grants, transfers and assigns all right, title and interest in such work and all copyrights and patents in such work and all renewals and extensions thereof to Employer, and agrees to provide all assistance
reasonably requested by Employer in the establishment, preservation and enforcement of Employer’s copyright and patents in such work, such assistance to be provided at Employer’s expense but without any additional

  
 7 

 
compensation to Employee if Employee is employed by Employer and for reasonable compensation and subject to his reasonable availability if he is not. If Employer cannot, after reasonable effort,
secure Employee’s signature on any documents needed do apply for or prosecute any patent, copyright or other right or protection relating to an invention, whether because of his physical or mental incapacity or for any other reason whatsoever,
Employee hereby irrevocably designates and appoints Employer and its duly authorized officers and agents as his agent and attorney-in-fact, to act for and on his behalf and in his name and stead for the purpose of executing and filing any such
application or applications and taking all other lawfully permitted actions to further the prosecution and issuance of patents, copyrights, or similar protections thereon, with the same legal force and effect as if executed by him. 

c. Litigation. Employee agrees to render assistance and cooperation to Employer at its request regarding any matter, dispute or controversy
with which Employer may become involved and of which Employee has useful knowledge, information or expertise. Such services will be without additional compensation if Employee is then employed by Employer and for reasonable compensation and subject
to his reasonable availability if he is not. Following his employment, Employee shall not be required to cooperate other than as a fact witness. Employer agrees to pay all expenses reasonably incurred or to be incurred by Employee in connection with
his cooperation. 
 10. Covenants not to Compete. 

a. Non-competition. Employee acknowledges that his duties hereunder and the services he will provide to Employer are of a special, unique,
unusual and extraordinary character, which gives this Agreement particular value to Employer, and that the knowledge he will learn while working for Employer is such that it will necessarily be valuable to a competitor and almost impossible to keep
confidential if Employee were to work for a competitor. Therefore, during the Term and for a period of one year after termination of his service to Employer, Employee will not, directly or indirectly, enter into, organize, control, engage in, be
employed by, serve as a consultant to, be an officer or director of, or have any direct investment of more than 5% of the outstanding shares in, any business, person, partnership, association, firm, corporation, or other entity engaged in any
business activity (including, but not limited to, research, development, manufacturing, selling, leasing, licensing or providing services) which is competitive with the business of Employer. 

b. Non-diversion. During the Term, and for a period of one year after the date of termination of Employee’s employment with Employer,
Employee will not divert or attempt to divert or take advantage of or attempt to take advantage of any actual or potential business or opportunities of Employer. 

  
 8 

 c. Non-recruitment. Employee agrees that Employer has or will invest substantial time and effort
in assembling its workforce. Accordingly, Employee agrees that during the Term and for a period of one year after the date of termination of Employee’s employment with Employer Employee will not directly or indirectly (a) hire away any
individuals who were employed by Employer during the one-year period prior to the date of termination of Employee’s service with Employer, or (b) directly or indirectly, entice, solicit or seek to induce or influence any such employees to
leave their service with Employer. 
 11. Remedies. 

a. Employee acknowledges that the restrictions contained in Sections 9 and 10, in view of the nature of the business of Employer, are
reasonable and necessary in order to protect the legitimate interests of Employer. Employee acknowledges that any violation of such restrictions would likely result in irreparable injuries to Employer, and Employee therefore acknowledges that, in
the event of Employee’s violation of any of these restrictions, Employer shall be entitled to seek from any court of competent jurisdiction preliminary and permanent injunctive relief without proving actual damage or immediate or irreparable
harm and without posting any bond. In addition, Employer shall be entitled to seek damages and an equitable accounting of all earnings, profits and other benefits arising from such violation, which rights shall be cumulative and in addition to any
other rights or remedies to which Employer may be entitled. 
 b. If the time, geographic, or other limitations specified in Sections 9 and
10 above should be adjudged to exceed limitations permitted by applicable law in any proceeding, then the affected provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, product or service or other limitations
permitted by applicable law. If Employee violates any of the restrictions contained in the foregoing Sections 9 and 10, the restrictive period shall be tolled, and shall not run, during the time of any said breach. 

c. In view of the difficulty of determining the amount of damages that may result to the parties hereto from the breach of the provision of
Section 9 or 10, it is the intent of the parties hereto that, in addition to monetary damages, any non-breaching party shall have the right to prevent any such breach in equity or otherwise, including without limitation prevention by means of
injunctive relief. The prevailing party in any such action shall be entitled to an award of its reasonable attorney’s fees and costs. 
 12.
Non-disparagement. Employee and Employer mutually agree that, during the Term and for a period of five years thereafter, neither will directly or indirectly disparage the other. 

  
 9 

 13. Entire Agreement; Amendments. This Agreement constitutes the entire agreement and understanding
between Employer and Employee relating to the subject matter hereof, and shall not be amended or changed except by written instrument signed by each of the undersigned parties. There are no prior or contemporaneous oral or written understandings or
agreements between the parties regarding Employee’s employment by Employer or any other matter. 
 14. No Waiver. Neither Employee nor Employer
shall by any act, delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any default in or breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in
exercising, on the part of Employee or Employer, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof
or the exercise of any other right, power or privilege. 
 15. Waiver of jury trial. The parties hereto waive any and all rights to a trial by jury with
respect to any action arising hereunder. 
 16. Governing Law, Venue. Interpretation of Language. The parties agree that this Agreement shall be
governed by the laws of the State of New York and that venue for an action between the parties that arises out of this Agreement shall be in New York county, State of New York. In the event an ambiguity or question of intent or interpretation
arises, this Agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 

17. Resignation as Officer and Director. In the event that Employee’s employment with Employer is terminated for any reason whatsoever, Employee
agrees to immediately resign from any position Employee may hold as an officer or director of, or on behalf of, Employer. 
 18. Limitation on
Authority. Without the express written consent of Employer, the Employee shall have no apparent or implied authority to: 
 (a) pledge
the credit of Employer or any of its employees; 

  
 10 

 (b) bind the Employer under any contract, agreement, note, mortgage or otherwise; or 

(c) sell, mortgage, transfer or otherwise dispose of any assets of Employer. 

19. Notices. Any notices under this Agreement shall be given in writing in person or by registered or certified U.S. mail, postage prepaid, return
receipt requested, or by facsimile with confirmation, to the parties at their respective addresses set forth below, and such notices shall be deemed given when received or three (3) days after placed in the mail in the manner provided above.
Either party may change such party’s address for notice by giving notice as provided herein. 
  

					
	(a)	  	If to Employer:	  	With a copy to:
		  	Dr. Robert Nowinski	  	Seth I. Rubin, Esq.
		  	ContraFect, Corp.	  	East Tower, 15th Floor
		  	28 Wells Avenue	  	1425 Rxr Plaza
		  	Yonkers, NY 110701	  	Uniondale, NY 11556-1425
			
	(b)	  	If to Employee:	  	
		  	Daniel Couto	  	
		  	70 Somerstown Rd.	  	
		  	Ossining, NY 10562	  	

 20. Prior Agreements. Employee represents to Employer that (a) there are no restrictions, agreements or
understandings to which Employee is a party that would prevent or make unlawful Employee’s execution of this Agreement or Employee’s employment hereunder, (b) Employee’s execution of this Agreement and Employee’s employment
hereunder shall not constitute a breach of any contract, agreement or understanding, oral or written, to which Employee is a party or by which Employee is bound, (c) Employee is free and able to execute this Agreement and to enter into
employment by Employer, and (d) Employee shall not divulge to Employer any trade secrets or proprietary information that belongs to any other person or entity. 

21. No Assignment. This Agreement and the rights and obligations of both parties hereunder are personal in nature, and shall not be assignable by either
party hereto, except by operation of law. Notwithstanding the foregoing, Employer may assign some or all of its rights hereunder to a successor in interest. 

  
 11 

 22. Headings. Headings used in this Agreement are solely for the convenience of the parties and shall be
given no effect in the construction or interpretation of this Agreement. 
 23 Miscellaneous. 

(a) Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any
party whose signature appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all
of the parties reflected hereon as the signatories. 
 (b) Provisions Separable. The provisions of this Agreement are independent of and
separable from each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part. 

(c) Survival. Any provisions of this Agreement which, by their terms, are intended to survive the expiration or termination of this Agreement,
including but not limited to the restrictive covenant and the provisions relating to non-solicitation, confidentiality, and both parties agree to forever waive any claim or defense, at law or in equity, asserting that such provision(s) terminated or
otherwise became unenforceable as a result of the expiration or termination of this Agreement. 
 (d) Section 409A Compliance.
Any payments under this Agreement that are deemed to be deferred compensation subject to the requirements of Section 409A of the Internal Revenue Code are intended to comply with the requirements of section 409A. To this end, if at any time
during the term of this Agreement, or upon its termination, the deferral of any payments or benefits otherwise payable is necessary to prevent any additional tax under Section 409A, then Employer will defer such payments (without reduction in
the amount ultimately paid or provided to Employee) until the earliest date that is permitted under Section 409A. Any amounts so deferred will be paid promptly to Employee at the end of such deferral period. 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed and delivered as
of the day and year set forth below. 
  

			
	CONTRAFECT CORPORATION
		
	By:	 	/s/ Robert Nowinski
		 	Robert Nowinski, CEO
	
	Dated: March 21, 2011
	
	/s/ Daniel E. Couto
		 	Daniel E. Couto
	
	Dated: March 21, 2011

  
 13

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