Document:

Exhibit 10.1

        

       

      EMPLOYMENT AGREEMENT

       

      This EMPLOYMENT AGREEMENT (this "Agreement"), dated
        as of September 15, 2022 (the "Execution Date") is by and between Lisata Therapeutics (the "Company") and

        David Slack (the "Executive")

       

      WITNESSETH:

       

      WHEREAS, the Company desires to employ the Executive as its President, and Chief Business Officer and the Executive desires to
        be so employed by the Company; and

       

      WHEREAS, the Company and the Executive each believe it is in their respective best interests to enter into this Agreement
        setting forth the mutual understandings and agreements reached between the Company and the Executive with respect to the Executive's employment with the Company and certain restrictions on the Executive's conduct benefiting the Company during such
        time and thereafter, all as set forth herein.

       

      NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements contained herein and other good and
        valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

       

      Section 1. Condition to Enforceability. The Executive hereby represents and
          warrants to the Company that he has the legal capacity to execute and perform this Agreement, and that its execution and performance by him will not violate the terms of any existing agreement or understanding to which the Executive is a party;
          and the Company hereby represents and warrants to the Executive that the person executing this Agreement on its behalf has the authority to do so and to bind the Company.

       

      Section 2. Employment. The Company agrees to employ the Executive,
          and the Executive agrees to be employed by the Company on a full-time basis, for the period commencing on the date of closing of the merger of between Cend Therapeutics and Caladrius Biosciences (the "Start Date") and, subject to earlier termination pursuant to Section 7 below,
          continuing until the three year anniversary of the Start Date (the "Initial Term"). Unless Executive is given written notice by the Company (acting through the Board) no later than ninety (90) days prior to the expiration of the Initial Term, Executive's employment hereunder shall be
          deemed extended for an additional period of one (1) year, subject to earlier termination pursuant to Section 7 below (each, a "Renewal
          Term"), in each such case, commencing upon the expiration of the Initial Term or the then-current Renewal Term, as the case may be. As used in this
          Agreement. the "Term" shall refer to the
          period beginning on the Start Date and ending on the effective date of the termination of this Agreement and the Executive's employment hereunder (the "Termination Date") in accordance with this Section or Section 7 below.

       

      Section 3. Position and Duties. During the Term, the Executive
          shall be employed as the Company's President and Chief Business Officer and shall perform duties consistent with such position. and such other related duties as the Chief Executive Officer shall reasonably request.  During the Term, and except for PTO in accordance with Section 6(a) below, the Executive shall devote his full business time, attention, skill and efforts to the
            business and affairs of the Company, its subsidiaries and other affiliates and shall comply with the Company's codes of conduct, policies and procedures as applicable at any given time. The Executive will have the opportunity to serve on no
            more than two external private or public company boards with permission of the Company's Board of Directors, which shall not be unreasonably withheld, provided that the company does not compete with the business of the Company and the
            Executive's outside services do not materially interfere, as determined by the Board in good faith, with the performance of the Executive's duties and responsibilities hereunder.

       

      
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      Section 4. Compensation. For all services rendered by the Executive in any
          capacity required hereunder during the Term, the Executive shall be compensated as follows:

       

      (a)           The Company shall pay the Executive a base salary (the "Base Salary") at the annualized rate of four hundred forty-four thousand dollars ($444,000) which shall be subject to customary withholdings and authorized deductions and be payable in equal installments in accordance with the Company's customary
              payroll practices in place from time to time. The Executive's Base Salary shall be subject to review by the Board and/or the Compensation Committee thereof (the "Compensation

              Committee") at least annually and may be increased, but not decreased, from time-to-time by the Board. As used in this Agreement, the term "Base Salary" shall refer to base salary as may
              be adjusted from time to time.

       

      (b)           The Executive shall be entitled to participate in all compensation and employee benefit plans or programs and to receive all other benefits and perquisites that are approved by the Board and are generally made available by the Company
            to other senior executives of the Company and to the extent permissible under the general terms and provisions of such plans or programs and in accordance with the provisions thereof. Notwithstanding any of the foregoing, nothing in this
            Agreement shall require the Company or any subsidiary or affiliate thereof to establish, maintain or continue any particular plan or program nor preclude the amendment, rescission or termination of any such plan or program that may be
            established from time to time.

       

      (c)           The Executive is eligible to receive an annual equity award commencing in 2023 the size and value of which to be determined by the Board (or the Compensation Committee) in its discretion.

       

      (d)           The Executive shall be eligible to receive an annual cash bonus for each calendar year ending during the Term ("Annual

              Bonus"). The Executive's target Annual Bonus will equal 50% of his Base Salary (the "Target Bonus") beginning in calendar year 2023. The amount of the Annual Bonus awarded to you will be determined by the Board and/or the Compensation Committee there at: in its sole discretion, based upon the level of
              achievement of the Company's corporate goals for the corresponding calendar year along with the performance of the Executive in relation to his personal performance objectives. Accordingly. the actual Annual Bonus may be less than or greater
              than the Target Bonus. Each Annual Bonus for a calendar year, to the extent earned will be paid in a lump sum early in the subsequent calendar year, but no later than March 15. In order for the Executive to receive an Annual Bonus, the
              Executive must be actively employed by the Company on December 31 of the calendar year for which the Annual Bonus is applicable.

       

      Section 5. Business Expenses. The Company shall pay or reimburse the Executive
          for all reasonable travel and other reasonable expenses incurred by the Executive in connection with the performance of his duties and obligations under this Agreement, subject to the Executive's presentation of appropriate vouchers or receipts
          in accordance with such policies and approval procedures as the Company may from time to time establish for employees (including but not limited to prior approval of extraordinary expenses) and to preserve any deductions for Federal income
          taxation purposes to which the Company may be entitled.

       

      
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      Section 6. Benefits; Perquisites; Expense Reimbursement. In addition to those
          payments and benefits set forth above or elsewhere herein, the Executive shall be entitled to the following other benefits and payments:

       

      a)            Vacation. Executive shall be entitled to twenty-nine (29) days of paid time off ("PTO") per calendar year (prorated in the event of a service year which is shorter than a calendar year) under the Company's then in effect PTO Policy, in addition to Company-observed holidays. Any PTO time
              not used during a calendar year shall be treated in accordance with the Company's policies relating to unused PTO time.

       

      b)           D&O Insurance. The Executive shall be covered by the Directors and Officers Liability Insurance policy that generally covers the directors and officers of the Company on the same
              terms and conditions provided to the Company's other executive offers, provided by the Company at its expense.

       

      c)            Indemnification. The Executive shall be entitled to the benefit of the indemnification provisions contained in the Company's By-laws or Certificate of Incorporation as they may be
              amended from time to time, to the extent permitted by applicable law, at the time of the assertion of any liability against the Executive. For clarity, the Company will not indemnify the Executive in connection with any liability arising out
              of or related to his employment relationship with any predecessor employer.

       

      Section 7. Termination of Employment.

       

      (a)          Events of Termination. The Executive's employment hereunder may be terminated upon the occurrence of any of the following events:

       

      (i)        Termination for Cause. The Company (acting through the Board) may terminate the Executive's employment hereunder for Cause at any time. For purposes of this Agreement, "Cause" shall mean that, as determined by the Board. the Executive has:

       

      (A)          committed gross negligence in connection with his duties as set forth herein or otherwise with respect to the business and affairs of the Company, its subsidiaries and/or its other
              affiliates;

       

      (B)          committed fraud in connection with his duties as set forth herein or otherwise with respect to the business and affairs of the Company, its subsidiaries and/or its other affiliates;

       

      (C)          engaged in personal dishonesty, willful misconduct, willful violation of any law, or breach of fiduciary duty, in each instance, with respect to the business and affairs of the Company, its
              subsidiaries and/or its other affiliates;

       

      (D)          been indicted for or has been found by a court of competent jurisdiction to have committed or plead guilty to (I) a felony (or state law equivalent) or (2) any other serious crime involving
              moral turpitude or that has (or is reasonably likely to have) a material adverse effect either on (x) the Executive' s ability to perform his duties under the Agreement or (y) the reputation and goodwill of the Company, regardless of whether
              or not such other crime is related or unrelated to the business of the Company, its subsidiaries or other affiliates;

       

      
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      (E)           shown chronic use of alcohol, drugs or other similar substances that materially affects the Executive's work performance;

       

      (F)           breached his obligations under (I) this Agreement, (2) the Confidentiality and Inventions Assignment Agreement attached hereto as Exhibit A (the "Covenants Agreement"), or
              (3) any other agreement executed by the Executive for the benefit of the Company, its subsidiaries and/or other affiliates, provided, that, if such breach described in this clause (F) is susceptible to cure (as determined in the reasonable
              discretion of the Board), the Executive shall have thirty (30) days after notice from the Board to cure such breach; or

       

      (G)          failed to materially perform the Executive's duties or to follow the lawful directives of the Board; provided, that, if such failure described in this clause (G) is susceptible to cure (as
              determined in the reasonable discretion of the Board), the Executive shall have thirty (30) days after notice from the Board to cure such failure; or materially violated the Company's written code of conduct or other  written or established
              policies and/or procedures in place from time to time; provided, that, if such violation described in this clause (H) is susceptible to cure (as determined in the reasonable discretion of the Board), the Executive shall have thirty (30) days
              after notice from the Board to cure such violation. Any notice to the Executive under this Section 7(a)(i) shall be in writing and shall specify in reasonable detail the Executive's acts or omissions that the Company alleges constitute
              “Cause.”

       

      (ii)        Termination without Cause. The Company (acting through the Board) may terminate the Executive's employment hereunder without Cause (other than by reason of death or Disability) at
              any time upon notice to Executive.

       

      (iii)      Resignation for Good Reason. The Executive may voluntarily terminate his employment hereunder for Good Reason (as defined below) upon written notice to the Company in
              accordance with the definition thereof. For purposes of this Agreement, "Good Reason" shall mean the occurrence of
              any of the following events: (A) material breach by the Company of its obligations under this Agreement; (B) the Executive's position, duties, responsibilities, or authority have been materially reduced or the Executive has repeatedly been
              assigned duties that are materially inconsistent with his duties set forth herein, in each case, without the Executive's consent or (C) the relocation of the Executive's principal place of employment, without the Executive's consent, in a
              manner that lengthens his one-way commute distance by fifty (50) or more miles. "Good Reason" shall not be deemed to exist, however. unless (1) the Executive shall have given written notice to the Company specifying in reasonable detail the
              Company's acts or omissions that the Executive alleges constitute "Good Reason" within sixty (60) days after the first occurrence of such circumstances and the Company shall have failed to cure any such act or omission within sixty (60) days
              of receipt of such written notice, and (2) the Executive actually terminates employment within one hundred eighty (180) days following the initial occurrence of any of the foregoing conditions that he considers to be "Good Reason." If the
              Executive fails to provide this notice and cure period prior to his resignation or resigns more than one hundred eighty (180) days after the initial existence of the condition, his resignation will not be deemed to be for "Good Reason."

       

      (iv)        Resignation without Good Reason. The Executive may voluntarily terminate his employment hereunder for any reason at any time for any reason that does not
              constitute Good Reason, upon thirty (30) days' prior written notice to the Company, provided, however, the Company reserves the right, upon written notice to the Executive, to accept the Executive's notice of resignation and to accelerate
              such notice and make the Executive's resignation effective immediately, or on such other date prior to the Executive's intended last day of work as the Company deems appropriate. It is understood and agreed that the Company's election to
              accelerate Executive's notice of resignation shall not be deemed a termination by the Company without Cause for purposes of Section 7(a)(ii) of this Agreement, Section 8(a) of this Agreement or otherwise, or constitute Good Reason for
              purposes of Section 7(a)(iii) of this Agreement, Section 8(a) of this Agreement or otherwise.

       

      
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      (v)          Disability. The Executive's employment hereunder shall terminate upon his Disability. For purposes of this Agreement, "Disability" shall mean that the Executive has been unable to perform his duties to the Company on account of physical or mental illness or incapacity for a period of ninety (90) consecutive calendar days or one
            hundred twenty (120)calendar days (whether or not consecutive) during any 365-day period, as a result of a condition that is treated as a total or permanent disability under the long-term disability insurance policy of the Company that covers
            the Executive.

       

      (vi)         Death. The Executive’s employment hereunder shall automatically terminate upon his death.

       

      (b)          Resignation from Directorships, Officerships and Committees. The termination of the Executive's employment for any
            reason shall constitute the Executive's resignation from (i) any director, officer, employee or committee position the Executive has with the Company or any of its affiliates and (ii) all fiduciary positions the Executive holds with respect to
            any employee benefit plans or trusts established by the Company. The Executive agrees that this Agreement shall serve as written notice of resignation in this circumstance; provided, however, the Executive agrees to take any additional actions
            that are deemed reasonably necessary by the Company to effectuate or evidence such resignations.

       

      Section 8. Compensation upon Termination of Employment. All defined terms used
          in this Section but not defined in this Section or elsewhere in this Agreement shall have the meanings ascribed to such terms in the Covenants Agreement:

       

      (a)           Resignation for Good Reason; Termination without Cause. In the event that, during the Term, the Company terminates Executive's employment without Cause (other than by reason
              of death or Disability) or the Executive voluntarily terminates his employment for Good Reason, the Company shall, in full discharge of all of the Company's obligations to the Executive hereunder or otherwise. provide the Executive with the
              following payments and benefits:

       

      (i)          Accrued Rights. The Company shall pay the Executive a lump-sum amount, within thirty (30) days following the
            Termination Date (or earlier if required by law), equal to the sum of (A) his earned but unpaid Base Salary through the last day of the Executive's employment ("Termination
              Date"), (B) any bonus amount earned and vested but not paid for periods ending on or prior to the Termination Date, (C) any accrued and unused PTO per the PTO Policy, (D) any unreimbursed business expenses or other amounts due to the
            Executive from the Company as of the Termination Date, and (E) all other payments and benefits to which the Executive then may be entitled under the terms of any applicable compensation arrangement or benefit, equity or perquisite plan or
            program or grant or this Agreement, including but not limited to any applicable insurance benefits (the "Accrued Rights").

       

      
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      (ii)         Additional Payments. Subject to Sections 8(d) and 8(e) below, the Company shall make additional payments to Executive in the form of continuation of the Executive's
              then-current Base Salary (the "Additional Payments") for a period beginning on the Termination Date and ending on
              the twelve (l 2) month anniversary of the Termination Date (the "Severance Period"). payable in accordance with the
              Company's regular payroll practices, commencing on the Company's first regular payroll date that occurs on or immediately after the 60th day following the Termination Date; provided, however, the first installment payment of the Additional
              Payments shall include the cumulative amount of payments that would have been paid to the Executive during the period of time between the Termination Date and the date the Additional Payments commence had such payments commenced immediately
              following the Termination Date.

       

      (iii)        COBRA Assistance. If Executive then participates in the Company's medical and/or dental plans and Executive timely elects to continue and maintain group health plan coverage pursuant
              to the Consolidated Omnibus Budget Reconciliation Act of l 985, as amended ("COBRA"), then, subject to Sections
              8(d) and 8(e) below, the Company will pay monthly. on the Executive's behalf and for the duration of the Severance Period, a portion of the cost of such coverage for the Severance Period, which payments will be equal to the amount of the
              monthly premium for such coverage, less the amount that Executive would have been required to pay if Executive had remained an active Executive of the Company (the "COBRA

              Assistance"); provided, however, that if the COBRA Assistance would violate the nondiscrimination rules or cause the reimbursement of claims to be taxable under the Patient Protection and
              Affordable Care Act of 2010, together with the Health Care and Education Reconciliation Act of 2010 (collectively, the "Act") or Section 105(h) of the Internal Revenue Code (the "Code"), the COBRA Assistance shall be treated as
              taxable payments and be subject to imputed income tax treatment to the extent necessary to eliminate any discriminatory treatment or taxation under the Act or Section 105 (h) of the Code.

       

      (iv)         Pro-Rata Bonus Payment. Subject to Sections 8(d) and 8(e) below, the Company shall pay the Executive an amount equal to the Target Bonus in effect for the year in which the
              termination of Executive's termination occurs , prorated for the number of days the Executive was employed in the calendar year of the Termination Date, payable in equal installments on the Company's regular payroll dates, commencing on the
              later of:(1) the Company's first regular payroll date that occurs on or immediately after the 60th day following the Termination Date; and (2) the date that the Executive's Annual Bonus for the calendar year in which the Termination Date
              would have been paid under Section 4(d) above if he had remained employed until the end of such calendar year, and ending on the last payroll date in the Severance Period.

       

      (v)          Options. The Company shall provide that the time period that the Executive may have to exercise any fully vested option equity awards shall be extended for a period equal to the
              shorter of (i) one (1) year following the Termination Date, or (ii) the remaining term of the award. Except as otherwise provided in this Section 8(a)(v), all stock options shall be treated in accordance with the terms of the stock option
              award and the Company's Equity Incentive Compensation plan pursuant to which the stock options were granted to the Executive.

       

      
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      (vi)        Change in Control Benefits. If the Company terminates Executive's employment without Cause (other than by reason of death or Disability) or the Executive voluntarily terminates his
              employment for Good Reason during the period commencing on the effective date of a Change in Control and ending on the first anniversary of the effective date of a Change in Control, and subject to Executive complying with his obligations to
              execute and deliver a Release pursuant to Section 8(d) and the requirements of Section 8(e), the Company will: (A) will pay the Additional Payments due under Section 8(a)(i) and extend the Severance Period during which the Additional Payments
              are made pursuant to Section 8(a)(ii) through the fifteen (15) month anniversary of the Termination Date, and (B) the Company shall provide that all outstanding unvested time-based equity awards granted to the Executive shall become fully
              vested as of the date the Release becomes effective and irrevocable under Section 8(d) and provide that the time period that the Executive may have to exercise such option equity awards shall be extended for a period equal to the shorter of
              (i) one (1) year following the Termination Date, and (ii) the remaining term of the award. Except as otherwise
              provided in this Section 8(a)(vi), all stock options shall be treated in accordance with the terms of the stock option award and the Company's equity incentive plan pursuant to which the stock options were granted to the Executive; (C) pay
              Executive a lump sum amount equal to 125% of Executive's then Target Bonus on the date the Company pays the first installment of the Additional Payments under Section 8(a)(ii), and (D) increase the COBRA Assistance payable under Section
              8(a)(iii) to equal the entire amount of the monthly premium for such coverage, without reduction for the amount that Executive would have been required to pay if Executive had remained an active executive of the Company, and extend the period
              of COBRA Assistance through the fifteen (15) month anniversary of the Termination Date. For purposes of this Section, a "Change in Control" means a transaction or a series of related transactions in which the assets of the Company are transferred to any "person" or
              "group" (as such terms are defined in Section l 3(d)(3) and 14(d)(2) of the Exchange Act); (x) any person or group becomes the "beneficial owner" (as defined in Rules 13d-3and 13d-5 under the Exchange Act), directly or indirectly, of the Company's outstanding equity representing more than 30%
              of the total voting power of the Company's then-outstanding equity; (y) the Company undergoes a merger, reorganization or other consolidation in which the holders of the outstanding equity of the Company immediately prior to such merger,
              reorganization or consolidation own less than 50% of the surviving entity's voting power immediately after the transaction; or (z) the date a majority of the members of the Company's incumbent Board of Directors is replaced during any twelve
              month period by members whose appointment or election is not endorsed by a majority to the Company's incumbent Board of Directors before the date of the appointment or election, provided further that the Change in Control meets all of the
              requirements of a" change in the ownership of a corporation" within the meaning of Treasury Regulation§ 1 .409A- 3(i)(5)(vi), a" change in the effective ownership
              of a corporation" within the meaning of Treasury Regulation §1.409A -3(i)(5)(vi), or "a change in the ownership of
              a substantial portion of the corporation's assets" within in the meaning of Treasury Regulation §1. 409A-3(i)(5)(vii). For purposes of (z), the incumbent Directors of the Board of
              Directors includes the members of the Board of Directors as of the date of this Agreement and any additional or replacement Director appointed or elected whose election or appointment is endorsed or approved by a majority of the Company's
              incumbent Board of Directors.

       

      (b)          Resignation without Good Reason, Termination  for Cause or upon Death or Disability

       

      (i)          In the event that during the Term the Company terminates Executive's employment for Cause or the Executive voluntarily terminates his employment other than for Good Reason, the Company
              shall, in full discharge of all of the Company's obligations to the Executive hereunder or otherwise, pay and/or provide the Executive with any Accrued Rights under Section 8(a)(i) hereof. All stock options shall be treated in accordance with
              the terms of the stock option award and the Company's equity incentive plan pursuant to which the stock options were granted to the Executive.

       

      (ii)          In the event that during the Term the Executive's employment is terminated due to the Executive's death or Disability, the Company shall, in full discharge of all of the Company's obligations to the Executive (or his estate, if
            applicable) hereunder or otherwise, (A) pay and/or provide the Executive (or his estate with) with any Accrued Rights under Section 8(a)(i) hereof, and (B) subject to Sections 8(e) and 8(f) below, provide the COBRA Assistance under Section
            8(a)(iii). All stock options shall be treated in accordance with the terms of the stock option award and the Company's equity incentive plan pursuant to which the stock options were granted to the Executive.

       

      
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      (c)          No Further Rights, Continued Obligations under the Covenants Agreement. The Executive shall have no further rights under this Agreement or otherwise to receive any other
            compensation or benefits after such termination or resignation of employment under the Company's severance arrangements or otherwise, except with respect to the payments and benefits specifically provided for under this Section 8. The Executive
            acknowledges and agrees that, on the expiration of the Term or the earlier termination of his employment for any reason or no reason (whether initiated by the Executive or the Company), the Executive shall continue to be bound by his
            obligations pursuant to the Covenants Agreement.

       

      (d)          Release of Claims. Notwithstanding anything contained in this Agreement to the contrary, the Company's provision of the payments and benefits under Sections 8(a)(ii),
            8(a)(iii), 8(a)(iv), 8(a)(v), 8(a)(vi) and 8(c)(ii) hereof shall be contingent in all respects on the Executive (or, if applicable, his estate) executing (and not revoking) a general release of claims against the Company, its affiliates and
            related parties, in a form reasonably satisfactory to the Company (the "Release") and the Release becoming effective (and no longer subject to revocation) within sixty
            (60) days following the Termination Date.

       

      (e)          Breach of Release or Covenants Agreement. Notwithstanding anything set forth in this Agreement to the contrary, in the event of a material breach by the Executive of his
            obligations under the Covenants Agreement or the Release Agreement and in addition to any other remedies under the Covenants Agreement, the Release Agreement or at law or in equity, the Company shall have no further obligations under Sections
            8(a)(ii). 8(a)(iii), 8(a)(iv), or 8(c)(ii) (if and as applicable) and the Executive shall be required, upon demand, to return to the Company any payments previously made by the Company pursuant to Section 8(a)(ii), 8(a)(iii), 8(a)(iv), or
            8(c)(ii).

       

      (f)          Mitigation of Damages. In no event shall the Executive be obliged to seek other employment or take any other action by way of mitigation of the severance benefits payable to
            the Executive under any of the provisions of this Agreement, nor shall the amount of any severance benefit hereunder be reduced by any compensation earned by the Executive as a result of employment by another employer, except as set forth in
            this Agreement.

       

      Section 9. Covenants Agreement; Corporate
          Policies.

       

      (a)          Covenants Agreement. The Executive acknowledges that Executive has executed contemporaneously with the execution of this Agreement and remains bound by the Covenants
              Agreement, which is attached hereto as Exhibit A, the terms of which are incorporated herein by reference, and that
              the terms of the Covenants Agreement remain in full force and effect and shall survive the expiration of this Agreement or the earlier termination of Executive's employment hereunder.

       

      (b)          Corporate Policies. The Executive acknowledges and agrees that during the Term, he will be bound by, and comply with, the Company's various written corporate policies
              applicable to other senior executives of the Company, including but not limited to its expense reimbursement policies.

       

      Section 10. Withholding Taxes. The Company may directly or
          indirectly withhold from any payments made under this Agreement all Federal, state, city or other taxes and all other deductions as shall be required pursuant to any law or governmental regulation or ruling or pursuant to any contributory benefit
          plan maintained by the Company in which the Executive may participate.

       

      
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      Section 11. Notices. All notices, requests, demands and other
          communications required or permitted hereunder shall be given in writing and shall be deemed to have been duly given if delivered or mailed, postage prepaid, by certified or registered mail or by use of an independent third-party commercial
          delivery service for same day or next day delivery and providing a signed receipt as follows:

       

      To the Company:

      

      

      Lisata

      110 Allen Road. 2nd Floor

      Basking Ridge, NJ 07920

      Attention: Gail Holler

      

      

      To the Executive:

      

      

      David Slack

      12544 High Bluff Drive, Suite 400

      San Diego, CA 92130

      

      

      or to such other address as either party shall have previously specified in writing
          to the other. Notice by mail shall be deemed effective on the second business day after its deposit with the United States Postal Service, notice by same day courier service shall be deemed effective on the day of deposit with the delivery
          service and notice by next day delivery service shall be deemed effective on the day following the deposit with the delivery service.

       

      Section 12. No Attachment. Except as required by law, no right to
          receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance. charge, pledge, or hypothecation or to execution, attachment, levy, or similar process or assignment by operation of
          law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect; provided, however, that nothing in this Section shall preclude the assumption of such rights by executors, administrators or other
          legal representatives of the Executive or his estate and their conveying any rights hereunder to the person or persons entitled thereto.

       

      Section 13. Source of Payment. All payments provided for
          under this Agreement shall be paid in cash from the general funds of the Company. The Company shall not be required to establish a special or separate fund or other segregation of assets to assure such payments, and, if the Company shall make any
          investments to aid it in meeting its obligations hereunder, the Executive shall have no right, title or interest whatever in or to any such investments except as may otherwise be expressly provided in a separate written instrument relating to
          such investments. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and the Executive or any other
          person. To the extent that any person acquires a right to receive payments from the Company hereunder, such right, without prejudice to rights which Executives may have shall be no greater than the right of an unsecured creditor of the Company.

       

      
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      Section 14. Binding Agreement; No Assignment. This

          Agreement shall be binding upon, and shall inure to the benefit of the Executive and the Company and their respective permitted successors, assigns, heirs, beneficiaries and representatives. This Agreement is personal to the Executive and may not
          be assigned by him. This Agreement may not be assigned by the Company except in connection with a sale of all or substantially all of its assets or a merger or consolidation of the Company, and the acquiring Company or entity expressly assumes
          this Agreement. Any attempted assignment in violation of this Section shall be null and void.

       

      Section 15. Governing Law; Consent to Jurisdiction. The validity, interpretation, performance, and enforcement of this Agreement shall be governed by the laws of California.  In addition, the Executive and the Company irrevocably submit to the exclusive jurisdiction of the courts of the State
          of California and the United States District Court sitting in the Southern District of California for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated hereby.
          Service of process in connection with any such suit, action or proceeding may be served on the Executive or the Company anywhere in the world by the same methods as are specified for the giving of notices under this Agreement. The Executive and
          the Company irrevocably consent to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court. In any such action or proceeding, the court shall have the authority to award reasonable costs,
          expenses, and attorneys' fees to the party that substantially prevails.

       

      Section 16. Entire Agreement; Amendments. This Agreement (including
          Exhibit A) embodies the entire agreement between Executive and the Company with respect to the subject matter hereof and may only be amended or otherwise modified by a writing executed by all of the parties hereto.

       

      Section 17. Counterparts. This Agreement may be
          executed in any number of counterparts, each of which when executed shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument.

       

      Section 18. Severability; Blue-Penciling. The
          provisions, sections and paragraphs, and the specific terms set forth therein, of this Agreement (including Exhibit A) are severable, except as specifically provided to the contrary herein. lf any provision, section or paragraph, or specific term contained therein, of this Agreement or the application thereof is determined by a court to be illegal, invalid or unenforceable, that provision, section, paragraph or term shall not
          be a part of this Agreement, and the legality, validity and enforceability of remaining provisions, sections and paragraphs, and all other terms therein, of this Agreement shall not be affected
            thereby. The Executive acknowledges and agrees that as to himself: the restrictive covenants contained in the Covenants Agreement (the "Restrictive Covenants") are reasonable and valid in geographical and temporal scope and in all other respects. If any court determines that any of such Restrictive Covenants, or any part thereof, is invalid or unenforceable, the
            remainder of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without regard to the invalid portions. It is the desire and intent of the parties that the Restrictive Covenants will be enforced to the
            fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any Restrictive Covenant shall be adjudicated to be invalid or unenforceable, such Restrictive Covenant
            shall be deemed amended to the extent necessary in order that such provision be valid and enforceable, such amendment to apply only with respect to the operation of such Restrictive Covenant in the particular jurisdiction in which such
            adjudication is made.

       

      Section 19. Prior Agreements. This Agreement supersedes all prior agreements and
          understandings (including verbal agreements) between Executive and the Company regarding the terms and conditions of Executive's employment with the Company.

       

      
        10

        
          

      

      Section 20. 409A Compliance.

       

      (a)         Notwithstanding anything to the contrary contained herein, if necessary to comply with the restriction in Section 409A(a)(2)(B) of the Internal Revenue Code of 1986, as amended (the "Code") concerning payments to "specified Executives," any payment on account of the Executive's separation from service that
              would otherwise be due hereunder within six months after such separation shall nonetheless be delayed until the first business day of the seventh month following the Executive's date of termination and the first such payment shall include the
              cumulative amount of any payments that would have been paid prior to such date if not for such restriction, together with interest on such cumulative amount during the period of such restriction at a rate, per annum, equal to the applicable
              federal short-term rate (compounded monthly) in effect under Section I 274(d) of the Code on the date of termination. If the Executive dies during the six- month postponement period prior to the payment, the amount of the payment deferred on
              account of Section 409A of the Code shall be paid to the personal representative of the Executive's estate within 30 days after the date of the Executive's. For purposes of Section 8 hereof, the Executive shall be a "specified Executive" for the 12-month period beginning on the first day of the fourth month following each "Identification Date"
              if she is a "key Executive" (as defined in Section 4 I 6(i) of the Code without regard to Section 416(i)(5) thereof) of the Company at any time during the 12-month period ending on the "Identification Date." For purposes of the foregoing, the
            "Identification Date" shall be December 31.

       

      (b)        This Agreement is intended to comply with the requirements of Section 409A of the Code and regulations promulgated thereunder ("Section 409A"). To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner
              so that no payments due under this Agreement shall be subject to an "additional tax" as defined in Section 409A(a)-(l)(B) of the Code. For purposes of Section 409A, each payment made under this Agreement shall be treated as a separate
              payment. Neither the Company nor Executive retains the right to accelerate any payment provided for in Section 8 of this agreement. Executive irrevocably elects the deferral of such payments as may be required by Section 409A and waives any
              right, directly or indirectly, to designate the calendar year of payment. Notwithstanding anything contained herein to the contrary, the Executive shall not be considered to have terminated employment with the Company for purposes of Section
              8 hereof unless she would be considered to have incurred a "separation from service" from the Company within the meaning of Treasury Regulation§ I .409A-l(h)(l)(ii).

       

      (c)         All reimbursements provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A, including, where applicable, the requirement that (i) any
              reimbursement is for expenses incurred during the Executive's lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses
              eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to
              reimbursement is not subject to liquidation or exchange for another benefit.

       

      (d)        In no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on Executive by Section 409A or damages for failing to comply with Section
              409A.

       

      
        11

        
          

      

      Section 21. Section 280G Limitation. If any payment(s) or
          benefit(s) the Executive would receive pursuant to this Agreement and/or pursuant to any other agreement or arrangement would (a) constitute a "parachute payment" within the meaning of Section 280G of the Code, (b) but for this Section, be
          subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), and if the net-after tax amount (taking into account all applicable taxes payable by the Executive, including any Excise Tax) that the Executive would receive with respect to such payments or benefits does
          not exceed the Reduced Amount then such payment(s) or benefit(s) (collectively, "Payments") shall be reduced to the Reduced Amount. The "Reduced Amount" shall be the largest portion of the Payments that can be paid or provided without causing any portion of the Payments being subject to the Excise Tax. If a reduction in
          payments or benefits constituting "parachute payments" is necessary so that the Payments equal the Reduced Amount, reduction shall occur in the following order: (i) first, any severance payments (with payments paid latest in time reduced first);
          (ii) second, any other cash payments due under any other agreement between the Company and the Executive; (iii) third, cancellation of the acceleration of vesting of any stock options: (iv) fourth, cancellation of the acceleration of vesting of
          any restricted stock and restricted stock units; and (v) lastly, other non-cash forms of benefits. Calculations of the foregoing will be performed at the expense of the Company by an accounting firm selected by the Company. The determinations of
          such accounting firm shall be final, binding and conclusive upon the Company and the Executive.

       

      IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by their respective duly authorized officers and the Executive has signed this Agreement, all as of the first
          date above written but effective as of the Execution Date.

       

      	 	
              LISATA THERAPEUTICS

            
	 	 	 
	 	
              By:

            	
              /s/ David J. Mazzo, PhD

              

            
	 	 	
              David J. Mazzo

            
	 	 	
              Chief Executive Officer

            
	 	 	 
	 	
              EXECUTIVE

            
	 	 	 
	 	 	
              /s/ David Slack

            
	 	 	
              David Slack

            

      

      

      
        12

        
          

      

      Exhibit A to Employment Agreement

       

      EMPLOYEE CONFIDENTIALITY AND INVENTIONS ASSIGNMENT AGREEMENT

       

      I recognize that Lisata Therapeutics, Inc., a Delaware corporation (the "Company"), is a clinical-stage biopharmaceutical
        company dedicated to the development and commercialization of therapies designed to treat and/or reverse disease. The Company is developing therapeutics with the aim of improving outcomes for patients with many cancers, especially solid tumor
        cancers as well as for patients with a variety of ischemic diseases.  (the "Business"). The "Business" also includes any other therapeutic or diagnostic agent development, regenerative medicine or cellular therapies initiatives that are or become a
        part of the Company's (or its subsidiaries') business during my employment tenure with the Company. Any company with which the Company enters into, or seeks or considers entering into, a business relationship in furtherance of the Business is
        referred to as a "Business Partner."

       

      I understand that as part of my performance of duties as an employee of the Company (the "Engagement"), I will have access to
        confidential or proprietary information of the Company and the Business Partners, and I may make new contributions and inventions of value to the Company. I further understand that my Engagement creates in me a duty of trust and confidentiality to
        the Company with respect to any information: (1) related, applicable or useful to the business of the Company, including the Company's anticipated research and development or such activities of its Business Partners; (2) resulting from tasks
        performed by me for the Company; (3) resulting from the use of equipment, supplies or facilities owned, leased or contracted for by the Company; or (4) related, applicable or useful to the business of
          any partner, client or customer of the Company, which may be made known to me or learned by me during the period of my Engagement.

       

      For purposes of this Agreement, the following definitions apply:

       

      "Proprietary Information" shall mean information relating to
          the Business or the business of any Business Partner and generally unavailable to the public that has been created, discovered, developed or otherwise has become known to the Company or in which property rights have been assigned or otherwise
          conveyed to the Company or a Business Partner, which information has economic value or potential economic value to the business in which the Company is or will be engaged. Proprietary Information shall include, but not be limited to, trade
          secrets, processes, formulas, writings, data, know-how, negative know-how, improvements, discoveries, developments, designs, inventions, techniques, technical data, patent applications, customer and supplier lists, financial information, business
          plans or projections and any modifications or enhancements to any of the above.

       

      "Inventions" shall mean all Business-related discoveries,
          developments, designs, improvements, inventions, formulas, software programs, processes, techniques, know-how, writings, graphics and other data, whether or not patentable or registrable under patent, copyright or similar statutes, that are
          related to or useful in the business or future business of the Company or its Business Partners or result from use of premises or other property owned, leased or contracted for by the Company. Without limiting the generality of the foregoing,
          Inventions shall also include anything related to the Business that derives actual or potential economic value from not being generally known to the public or to other persons who can obtain economic value from its disclosure or use.

       

      As part of the consideration for my Engagement pursuant to
          the terms of the employment agreement between the Company and me effective as of the Start Date (the "Employment Agreement"), and the base salary, stock options, RSUs and/or other compensation and benefits to be received by me from the Company
          pursuant to the Employment Agreement, I hereby agree as follows:

       

      
        
          

      

      1.          Proprietary Information and Inventions. The Company, its Business Partners or their
              respective assigns, as the case may be, are and shall be the sole owner of all Proprietary Information and Inventions related to the Business and the sole owner of all patents, trademarks, service marks, copyrights, mask rights and other
              rights (collectively referred to herein as "Rights") pertaining to any Proprietary Information or Inventions. I hereby acknowledge that all original works of authorship that are made by me (solely or jointly with others) within the scope of
              my Engagement and which are protectable by copyright are "works for hire" as that term is defined in the United States Copyright Act (17 USCA, Section 101). I further hereby assign to the Company, any Rights I may have or acquire in any
              Proprietary Information or Inventions which arise in the course of my Engagement. I further agree to assist the Company or any person designated by it in every proper way (but at the Company's expense) to obtain and from time to time enforce
              Rights relating to said Proprietary Information or Inventions in any and all countries. I will execute all documents for use in applying for, obtaining and enforcing such Rights in such Proprietary Information or Inventions as the Company may
              desire, together with any assignments thereof to the Company or persons designated by it. My obligation to assist the Company or any person designated by it in obtaining and enforcing Rights relating to Proprietary Information or Inventions
              shall continue beyond the cessation of my Engagement ("Cessation of my Engagement"). In the event the Company is unable, after reasonable effort, to secure my signature on any document or documents needed to apply for or enforce any Right
              relating to Proprietary Information or to an Invention, whether because of my physical or mental incapacity or for any other reason whatsoever, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents
              as my agents and attorneys-in-fact to act for and in my behalf and stead in the execution and filing of any such application and in furthering the application for and enforcement of Rights with the same legal force and effect as if such acts
              were performed by me.

       

      2.         Confidentiality. At all times, both during my Engagement and after the Cessation of my Engagement, whether the
              cessation is voluntary or involuntary, for any reason or no reason, or by disability, I will keep in strictest confidence and trust all Proprietary Information, and I will not disclose or use or permit the use or disclosure of any Proprietary
              Information or Rights pertaining to Proprietary Information, or anything related thereto, without the prior written consent of the Company, except as may be necessary in the ordinary course of performing my duties for the Company or to
              enforce any of my rights under my Employment Agreement. I recognize that the Company has received and in the future will receive from third parties (including Business Partners) their confidential or proprietary information subject to a duty
              on the Company's part to maintain the confidentiality of such information and to use it only for certain limited purposes. I agree that I owe the Company and such third parties (including Business Partners), during my Engagement and after the
              Cessation of my Engagement, a duty to hold all such confidential or proprietary information in the strictest confidence, and I will not disclose or use or permit the use or disclosure of any such confidential or proprietary information
              without the prior written consent of the Company, except as may be necessary in the ordinary course of performing my duties for the Company consistent with the Company's agreement with such third party or to enforce any of my rights under my
              Employment Agreement or otherwise.

       

      3.        Exception to Assignment.  Notwithstanding, Sections 3 and 4 of this agreement does not apply to any invention that
              qualifies fully as a non-assignable invention under Section 2870 of the California Labor Code.  By my signature to this Agreement, you acknowledge that I have reviewed the notification on Attachment 1 to this agreement (Limited
              Exclusion Notification).

       

      
        
          

      

      4.          Employee Solicitation.  During my Engagement and for a period of one (1) year after the Cessation of my Engagement, I will not directly or indirectly, whether
            alone or in concert with others or as a partner, officer, director, consultant, agent, employee or stockholder of any company or any commercial enterprise, persuade or attempt to solicit or persuade any person who is an employee of the Company
            as of the date that the Cessation of my Engagement occurs to terminate his or her employment with the Company or to otherwise cease providing or reduce his or her services to the Company.

       

      5.           Defend Trade Secrets Act; Other Notices.  Under the Defend Trade Secrets Act of 2016, the Company
        hereby provides notice to me and I hereby acknowledge that I may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or
        local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other
        proceeding, if such filing is made under seal. I further understand that nothing contained in this agreement limits my ability to communicate with any federal, state or local governmental agency or commission, including to provide documents or
        other information, without notice to the Company.

       

      6.         Delivery of Company Property and Work Product. In the event of the Cessation of my
              Engagement, I will deliver to the Company all biological materials, devices, records, sketches, reports, memoranda, notes, proposals, lists, correspondence, equipment, documents, photographs, photostats, negatives, undeveloped film, drawings,
              specifications, tape recordings or other electronic recordings, programs, data, marketing material and other materials or property of any nature belonging to the Company or  its clients or customers, and I will not take with me, or allow a
              third party to take, any of the foregoing or any reproduction of any of the foregoing.

       

      7.           No Conflict. I represent, warrant and covenant that my performance of all the terms of this Agreement and
            the performance of my duties for the Company does not and will not breach any agreement to keep in confidence proprietary information acquired by me in confidence or in trust prior to my
              Engagement. I have not entered into, and I agree that I will not enter into, any agreement, either written or oral, in conflict herewith.

       

      8.           No Use of Confidential Information. I represent, warrant and covenant that I have not
              brought and will not bring with me to the Company or use in my Engagement any materials or documents of a former employer, or any person or entity for which I have acted as an independent contractor or consultant, that are not generally
              available to the public, unless I have obtained written authorization from any such former employer, person or firm for their possession and use. I understand and agree that, in my service to the Company, I am not to breach any obligation of
              confidentiality that I have to former employers or other persons.

       

            

      9.          Enforcement; Equitable Relief. I acknowledge that any breach or threatened breach by me of any provision of this
              Agreement may result in immediate and irreparable injury to the Company, and that such injury may not be readily compensable by monetary damages. In the event of any such breach or threatened breach, I acknowledge that, in addition to all
              other remedies available at law and equity, the Company shall be entitled to seek equitable relief (including a temporary restraining order, a preliminary injunction and/or a permanent injunction), and an equitable accounting of all earnings,
              profits or other benefits arising from such breach and will be entitled to receive such other damages, director consequential, as may be appropriate. In addition, and not instead of, those rights, I further acknowledge that I shall be
              responsible for payment of the fees and expenses of the Company's attorneys and experts, as well as the Company's court costs, pertaining to any suit, action, or other proceeding, arising directly or indirectly out of my violation or
              threatened violation of any of the provisions of this agreement. The Company shall not be required to post any bond or other security in connection with any proceeding to enforce this section.

       

      
        
          

      

      10.        Severability. If any provision of this Agreement shall be determined by any court of
              competent jurisdiction to be unenforceable or otherwise invalid as written, the same shall be enforced and validated to the extent permitted by law. All provisions of this Agreement are severable, and the unenforceability or invalidity of any
              single provision hereof shall not affect the remaining provisions.

       

      11.        Miscellaneous. This Agreement shall be governed by and construed under the laws of
              the State of California applied to contracts made and performed wholly within such state. No implied waiver of any provision within this Agreement shall arise in the absence of a waiver in writing, and no waiver with respect to a specific
              circumstance, event or occasion shall be construed as a continuing waiver as to similar circumstances, events or occasions. This Agreement, together with the employment agreement between the Company and myself, contains the sole and entire
              agreement and understanding between the Company and myself with respect to the subject matter hereof and supersedes and replaces any prior agreements to the extent any such agreement is inconsistent herewith. This Agreement can be amended,
              modified, released or changed in whole or in part only by a written agreement executed by the Company and myself. This Agreement shall be binding upon me, my heirs, executors, assigns and administrators, and it shall inure to the benefit of
              the Company and each of its successors or assigns. This Agreement shall be effective as of the first day of my being retained to render services to the Company, even if such date precedes the date I sign this Agreement.

       

      12.          Thorough Understanding of Agreement. I have read all of this Agreement and understand
              it completely, and by my signature below I represent that this Agreement is the only statement made by or on behalf of the Company upon which I have relied in signing this Agreement.

       

      IN WITNESS WHEREOF, I have caused this Employee Confidentiality and Inventions Assignment Agreement to be
          signed on the date written below.

       

      
        	
                DATED:

              	
                 

              	 
	
                 

              	
                 

              
	
                Signed:

              	
                 

              	 

      

       

      
        
          

      

      SCHEDULE 1

      LIMITED EXCLUSION NOTIFICATION

       

      This is to notify you in accordance with Section 2870 of the California Labor Code that the Confidentiality and Intellectual Property Agreement between you and Lisata Therapeutics, Inc. (the “Company”) does not require
          you to assign or offer to assign to the Company any invention that you developed entirely on your own time without using the Company's equipment, supplies, facilities or trade secret information except for those inventions that either:

       

      1.          Relate at the time of conception or reduction to practice of the invention to the Company's business, or actual or demonstrably anticipated research or development of the Company;

       

      2.           Result from any work performed by you for the Company.

       

      To the extent a provision in the foregoing Agreement purports to require you to assign an invention otherwise excluded from the
        preceding paragraph, the provision is against the public policy of this state and is unenforceable.

       

      This limited exclusion does not apply to any patent or invention covered by a contract between the Company and the United States
        or any of its agencies requiring full title to the patent or invention to be in the United States.Exhibit 10.2

      

       

      

      LISATA THERAPEUTICS, INC.

       

      

      INDEMNIFICATION AGREEMENT

      This Indemnification Agreement ("Agreement") is made as of September 15, 2022 by and between Lisata Therapeutics, Inc., a Delaware corporation (the
        "Company"), and [                                  ]("Indemnitee").

       

      

      RECITALS

       

      

      WHEREAS, highly competent persons have become more reluctant to serve publicly-held corporations as directors or officers or in other capacities unless
        they are provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation;

       

      

      WHEREAS, the Board of Directors of the Company (the "Board") has, in order to attract and retain qualified individuals, obtained liability insurance to
        protect persons serving the Company and its subsidiaries from certain liabilities. The furnishing of such insurance has been a customary and widespread practice among United States-based corporations and other business enterprises.  At the same
        time, directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been
        brought only against the Company or business enterprise itself.  The Certificate of Incorporation of the Company permits indemnification of the officers, directors and employees of the Company.  Indemnitee may also be entitled to indemnification
        pursuant to the General Corporation Law of the State of Delaware (the "DGCL").  The DGCL expressly provides that the indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between
        the Company and members of the board of directors, officers and other persons with respect to indemnification;

       

      

      WHEREAS, the uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining such persons,
        particularly those at greater risk in light of their position with the Company;

       

      

      WHEREAS, the Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best interests of the
        Company's stockholders and that the Company should act to assure such of those persons who in light of their position with the Company are at an increased risk, that there will be increased certainty of such protection in the future;

       

      

      WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of,
        such persons at an increased risk to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified;

       

      

      WHEREAS, this Agreement is a supplement to and in furtherance of the Certificate of Incorporation of the Company and any resolutions adopted pursuant
        thereto, and any agreements the Indemnitee may otherwise have with the Company, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

       

      

      WHEREAS, Indemnitee does not regard the protection available under the Company's Certificate of Incorporation and insurance as adequate in the present
        circumstances, and may not be willing to serve as an officer, director or employee without adequate protection, and the Company desires Indemnitee to serve in such capacity.  Indemnitee is willing to serve, or to continue to serve, for or on behalf
        of the Company on the condition that he or she be so indemnified;

       

      

      NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree as
        follows:

       

      

      
        
          

      

      1.           Services

              to the Company.

      

      

      Indemnitee agrees to serve, or to continue to serve, as a director or officer of the Company or, at the request of the Company, as a director, officer,
        employee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise.  Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation
        or any obligation imposed by operation of law), in which event the Company shall have no obligation under this Agreement to continue Indemnitee in such position.  This Agreement shall not be deemed an employment contract between the Company (or any
        of its subsidiaries or any other corporation, limited liability company, partnership, joint venture, trust employee benefit plan or other enterprise of which Indemnitee was serving at the Company’s request as a director, officer, employee, agent or
        fiduciary) and Indemnitee.  Indemnitee specifically acknowledges that Indemnitee's employment with the Company (or any of its subsidiaries or any other corporation, limited liability company, partnership, joint venture, trust employee benefit plan
        or other enterprise of which Indemnitee was serving at the Company’s request as a director, officer, employee, agent or fiduciary), if any, is at will, and the Indemnitee may be discharged at any time for any reason, with or without cause, except
        as may be otherwise provided in any written employment contract between Indemnitee and the Company (or any of its subsidiaries or any other corporation, limited liability company, partnership, joint venture, trust employee benefit plan or other
        enterprise of which Indemnitee was serving at the Company’s request as a director, officer, employee, agent or fiduciary).  As provided in Section 19, the foregoing notwithstanding, this Agreement shall continue in force after Indemnitee has ceased
        to serve as an officer or director of the Company.

      

      

      2.           Indemnification.

       

      

      (a) Third Party Proceedings. The Company shall indemnify Indemnitee if Indemnitee is or was a party or is threatened to be made a party to any threatened, pending or completed action, suit, proceeding or any alternative dispute
        resolution mechanism, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Company) by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company, or any
        subsidiary of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against
        expenses (including reasonable attorneys' fees), judgments, fines and amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by
        Indemnitee in connection with such action, suit or proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or
        proceeding, had no reasonable cause to believe Indemnitee's conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settle-ment, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of
        itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had
        reasonable cause to believe that Indemnitee's conduct was unlawful.

       

      

      (b)    Proceedings By or in the Right of the Company. The Company shall indemnify Indemnitee if Indemnitee was or is a party or is
        threatened to be made a party to any threatened, pending or completed action, suit or proceeding by or in the right of the Company or any subsidiary of the Company to procure a judgment in its favor by reason of the fact that Indemnitee is or was a
        director, officer, employee or agent of the Company, or any subsidiary of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent of another corporation,
        partnership, joint venture, trust or other enterprise, against expenses (including reasonable attorneys' fees) and, to the fullest extent permitted by law, amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with
        the defense or settlement of such action or suit if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, except that no indemnification shall be made in respect
        of any claim, issue or matter as to which Indemnitee shall have been finally adjudged to be liable to the Company unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite
        the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper.

       

      

      
        
          

      

      (c)    Proceedings Definition.  For purposes of clarity, the term "proceeding" as used in Subsections (a) and (b) of this Section 2, and throughout this Agreement, shall include any threatened, pending or completed action, suit,
        arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, and whether of a civil, criminal, administrative legislative, or investigative nature,
        including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of the fact that Indemnitee is or was a director, officer or employee of the Company, by reason of
        any action taken by him or of any action on his part while acting as director, officer or employee of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, employee or agent of another
        corporation, limited liability company, partnership, joint venture, trust or other enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or
        advancement of expenses can be provided under this Agreement.

       

      

      (d)   Mandatory Payment of Expenses. To the extent that Indemnitee has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Subsections (a) and (b) of this Section 2, or in
        defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by Indemnitee in connection therewith.

       

      

      3.           Expenses;

              Indemnification Procedure.

      (a)    Advancement of Expenses. The Company shall advance all expenses incurred by Indemnitee in connection with the investigation,
        defense, settlement or appeal of any civil or criminal action, suit or proceeding referenced in Section 2(a) or (b) hereof. Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be
        determined that Indemnitee is not entitled to be indemnified by the Company as authorized hereby. The advances to be made hereunder shall be paid by the Company to Indemnitee within thirty (30) days following delivery of a written request therefor
        by Indemnitee to the Company.  As used in this Agreement, “expenses” shall include, among other things, all reasonable attorneys' fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs,
        printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
        being or preparing to be a witness in, or otherwise participating in, an action, suit or proceeding.  Expenses also shall include (i) expenses incurred in connection with any appeal resulting from any action, suit or proceeding, including without
        limitation the premium, security for, and other costs relating to any cost bond, supersedes bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 11 only, expenses incurred by Indemnitee in connection with the
        interpretation, enforcement or defense of Indemnitee's rights under this Agreement, by litigation or otherwise.  Expenses, however, for purposes of this Section 3(a), shall not include amounts paid in settlement by Indemnitee or the amount of
        judgments or fines against Indemnitee.  Advances shall be unsecured and interest free.  Advances shall be made without regard to Indemnitee's ability to repay the expenses and without regard to Indemnitee's ultimate entitlement to indemnification
        under the other provisions of this Agreement.  Advances shall include any and all reasonable expenses incurred pursuing an action to enforce this right of advancement, including expenses incurred preparing and forwarding statements to the Company
        to support the advances claimed.  The Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the advance to the
        extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company.  This Subsection 3(a) shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9 or to any
        Proceeding for which the Company has assumed the defense thereof in accordance with the terms of this Agreement.

       

      

      (b)    Notice by Indemnitee. Indemnitee shall notify the Company in writing in accordance with the provisions of Section 16 hereof of any
          matter with respect to which Indemnitee intends to seek indemnification or advancement of expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof.  The written notification to the Company
          shall include a description of the nature of the proceeding and the facts underlying the proceeding.  To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such
          documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such action, suit or
          proceeding.  Except to the extent such failure to provide notice or delay in providing notice materially prejudices the Company, the failure by Indemnitee to notify the Company hereunder will not relieve the Company from any liability which it
          may have to Indemnitee hereunder or otherwise than under this Agreement, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement.  The Secretary of the Company shall, promptly upon
          receipt of such a request for indemnification, advise the Board in writing that Indemnitee has requested indemnification.

       

      

      
        
          

      

      (c)    Procedure. Any indemnification and advances provided for in Section 2 and this Section 3 shall be made no later than thirty (30)
          days after receipt of the written request of Indemnitee. If a claim under this Agreement, under any statute, or under any provision of the Company's Certificate of Incorporation or Bylaws providing for indemnification, is not paid in full by the
          Company within thirty (30) days after a written request for payment thereof has first been received by the Company, Indemnitee may, but need not, at any time thereafter bring an action against the Company to recover the unpaid amount of the claim
          and, subject to Section 15 of this Agreement, Indemnitee shall also be entitled to be paid for the expenses (including reasonable attorneys' fees) of bringing such action. It shall be a defense to any such action (other than an action brought to
          enforce a claim for expenses incurred in connection with any action, suit or proceeding in advance of its final disposition) that Indemnitee has not met the standards of conduct which make it permissible under applicable law for the Company to
          indemnify Indemnitee for the amount claimed. However, Indemnitee shall be entitled to receive interim payments of expenses pursuant to Subsection 3(a) unless and until such defense may be finally adjudicated by court order or judgment from which
          no further right of appeal exists. It is the parties' intention that if the Company contests lndemnitee's right to indemnification, the question of Indemnitee's right to indemnification shall be for the court to decide, and neither the failure of
          the Company (including its Board of Directors, any committee or subgroup of the Board of Directors, independent legal counsel, or its stockholders) to have made a determination that indemnification of Indemnitee is proper in the circumstances
          because Indemnitee has met the applicable standard of conduct required by applicable law, nor an actual determination by the Company (including it Board of Directors, any committee or subgroup of the Board of Directors, independent legal counsel,
          or its stockholders) that Indemnitee has not met such applicable standard of conduct, shall create a presumption that Indemnitee has or has not met the applicable standard of conduct.

       

      

      (d)    Notice to Insurers. If, at the time of the receipt of a notice of a claim pursuant to Section 3(b) hereof, the Company has director
        and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all
        necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

       

      

      (e)    Selection of Counsel. In the event the
        Company shall be obligated under Section 3(a) hereof to pay the expenses of any proceeding against Indemnitee, the Company, if appropriate, shall be entitled to assume the defense of such proceeding; with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice and the retention of counsel reasonably acceptable to
        Indemnitee, the Company shall not be liable to Indemnitee under this Agreement or otherwise for any expenses subsequently directly incurred by Indemnitee in connection with Indemnitee's defense of such Claim, provided that (i) Indemnitee shall have
        the right to employ his counsel in any such proceeding at Indemnitee's expense; and (ii) if (A) the employment of separate counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have reasonably concluded that
        there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense, or (C) the Company shall not, in fact, have employed counsel to assume the defense of such proceeding, then the fees and expenses of
        Indemnitee's counsel shall be at the expense of the Company.

      

      

      4.           Additional Indemnification Rights; Nonexclusivity.

       

      

      (a)    Scope. Notwithstanding any other provision of this Agreement, the Company hereby agrees to indemnify the Indemnitee to the fullest
        extent permitted by law, notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Company's Certificate of Incorporation, the Company's Bylaws or by statute. In the event of any change,
        after the date of this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware corporation to indemnify a member of its board of directors, an officer or an employee, such changes shall be, ipso facto, within the purview of Indemnitee's rights and Company's obligations, under this Agreement. In the event of any change in any applicable law, statute or rule which
        narrows the right of a Delaware corporation to indemnify a member of its board of directors, an officer or an employee, such changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement shall have no
        effect on this Agreement or the parties' rights and obligations hereunder.

       

      

      
        
          

      

      (b)    Nonexclusivity. The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under the Company's Certificate of Incorporation, its Bylaws, any agreement,
        any vote of stockholders or disinterested Directors, the General Corporation Law of the State of Delaware, or otherwise, both as to action in Indemnitee's official capacity and as to action in another capacity while holding such office. The
        indemnification provided under this Agreement shall continue as to Indemnitee for any action taken or not taken while serving in an indemnified capacity even though he may have ceased to serve in such capacity at the time of any action, suit or
        other covered proceeding.

       

      

      5.           Partial

              Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
          some or a portion of the expenses, judgments, fines or penalties actually or reasonably incurred by him in the investigation, defense, appeal or settlement of any civil or criminal action, suit or proceeding, but not, however, for the total
          amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such expenses, judgments, fines or penalties to which Indemnitee is entitled.

       

      

      6.           Mutual
              Acknowledgement. Both the Company and Indemnitee acknowledge that in certain instances, Federal law or applicable public
          policy may prohibit the Company from indemnifying its directors and officers under this Agreement or otherwise. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the
          Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company's right under public policy to indemnify Indemnitee.

      

      

      7.           Officer

              and Director Liability Insurance. The Company shall obtain and maintain a policy or policies of insurance with reputable insurance companies
          to ensure the Company's performance of its indemnification obligations under this Agreement. In all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same
          rights and benefits as are accorded to the most favorably insured of the Company's directors, if Indemnitee is a director; or of the Company's officers, if Indemnitee is not a director of the Company but is an officer or an employee.
          Notwithstanding the foregoing, the Company shall have no obligation under this Agreement (although it may have such obligation under other contractual arrangements or otherwise) to obtain or maintain such insurance if the Company determines in
          good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an
          insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company.

       

      

      8.           Severability. Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of
          applicable law. The Company's inability, pursuant to court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this Section 8.
          If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement
          that shall not have been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms.

       

      

      9.     Exceptions. Any other provision herein to the contrary
        notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

       

      

      (a)    Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to proceedings or claims initiated or
          brought voluntarily by Indemnitee and not by way of defense, except with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145
          of the Delaware General Corporation Law, but such indemnification or advancement of expenses may be provided by the Company in specific cases if the Board of Directors has approved the initiation or bringing of such suit; or

       

      

      
        
          

      

      (b)    Lack of Good Faith. To indemnify Indemnitee for any expenses incurred by the Indemnitee with respect to any proceeding instituted by
        Indemnitee to enforce or interpret this Agreement, if a court of competent jurisdiction determines that each of the material assertions made by the Indemnitee in such proceeding was not made in good faith or was frivolous; or

       

      

      (c)    Insured Claims. To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including, but not limited to, judgments,
        fines, ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee by an insurance carrier under a policy of officers' and directors' liability insurance maintained by the Company; or

       

      

      (d)    Claims Under Section 16(b). To indemnify Indemnitee for expenses and the payment of profits arising from the purchase and sale by
        Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute; or

      

      

      (e)    Impermissible Indemnification.  To indemnify Indemnitee if a final
        decision by a court of competent jurisdiction determines that such indemnification is prohibited by applicable law; or

      

      

      (f)    To indemnify or advance funds to Indemnitee for
          Indemnitee's reimbursement to the Company of any bonus or other incentive-based or equity-based compensation previously received by Indemnitee or payment of any profits realized by Indemnitee from the sale of securities of the Company, as
          required in each case under the Securities Exchange Act of 1934, as amended, (including any such reimbursements under Section 304 of the Sarbanes-Oxley Act of 2002 in connection with an accounting restatement of the Company, the payment to the
          Company of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act or any reimbursements or clawbacks of compensation under Section 954 of the Dodd-Frank Wall Street Reform and
          Consumer Protection Act).

       

      

      10.                 (a)    Reliance as Safe Harbor.  For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Company,
          including financial statements, or on information supplied to Indemnitee by the officers of the Company in the course of their duties, or on the advice of legal counsel for the Company or on information or records given or reports made to the
          Company by an independent certified public accountant or by an appraiser or other expert selected with the reasonable care by the Company.  The provisions of this Section 10(a) shall not be deemed to be exclusive or to limit in any way the other
          circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

      (b)   Actions of Others.  The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company shall not be imputed to Indemnitee for purposes of determining the right to indemnification
        under this Agreement.

       

      

      11.         Intentions.  The Company shall, to the fullest extent not prohibited by law, be
        precluded from asserting in any judicial proceeding or arbitration commenced relating to this Agreement that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before
        any such arbitrator that the Company is bound by all the provisions of this Agreement.  It is the intent of the Company that the Indemnitee not be required to incur legal fees or other expenses associated with the interpretation, enforcement or
        defense of Indemnitee's rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to the Indemnitee hereunder.  The Company shall indemnify
        Indemnitee against any and all expenses and, if requested by Indemnitee, shall (within thirty (30) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law, such expenses to Indemnitee, which are
        incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of expenses from the Company under this Agreement or under any directors' and officers' liability insurance policies maintained by the
        Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of expenses or insurance recovery, as the case may be.

       

      

      
        
          

      

      12.         Construction of Certain Phrases

      (a)    For purposes of this Agreement, references to the
        "Company" shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power
        and authority to indemnify its directors, officers, and employees or agents, so that if Indemnitee is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation
        as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving
        corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued.

       

      

      (b)   For purposes of this Agreement, references to "other
        enterprises" shall include employee benefit plans; references to "fines" shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to "serving at the request of the Company" shall include any
        service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants, or beneficiaries; and if
        Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner "not opposed to the best
        interests of the Company" as referred to in this Agreement.

       

      

      13.         Counterparts. This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

       

      

      14.         Successors

              and Assigns. This Agreement shall be binding upon the Company and its successors and assigns, and shall inure to the benefit of Indemnitee and
          Indemnitee's estate, heirs, legal representatives and assigns.

      

      

      15.         Attorneys'

              Fees. In the event that any action is instituted by Indemnitee under this Agreement to enforce or interpret any of the
          terms hereof, Indemnitee shall be entitled to be paid all court costs and expenses, including reasonable attorneys' fees, incurred by Indemnitee with respect to such action, unless as a part of such action, the court of competent jurisdiction
          determines that each of the material assertions made by Indemnitee as a basis for such action were not made in good faith or were frivolous. In the event of an action instituted by or in the name of the Company under this Agreement or to enforce
          or interpret any of the terms of this Agreement, Indemnitee shall be entitled to be paid all court costs and expenses, including reasonable attorneys' fees, incurred by Indemnitee in defense of such action (including with respect to Indemnitee's
          counterclaims and cross-claims made in such action), unless as a part of such action the court determines that each of Indemnitee's material defenses to such action were made in bad faith or were frivolous.

       

      

      16.          Notice.
          All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given (i) if delivered by hand and receipted for by the party addressee, on the date of such receipt, (ii) if mailed by
          domestic certified or registered mail with postage prepaid, on the third business day after the date postmarked, or (iii) mailed by reputable overnight courier and receipted for by the party addressee, on the date of such receipt. Addresses for
          notice to either party are as shown on the signature page of this Agreement, or as subsequently modified by written notice.

       

      

       17.        Consent
              to Jurisdiction. The Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or
          proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in the United States, (b) consent to submit to the exclusive jurisdiction of the Delaware Court
          for purposes of any action or proceeding arising out of or in connection with this Agreement, (c) appoint, to the extent such party is not otherwise subject to service of process in the State of Delaware, VCorp Services, LLC, 1811 Silverside
          Road, Wilmington, DE 19810 as its agent in the State of Delaware for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally
          within the State of Delaware and (d) waive, and agree not to plead or make, any claim that the Delaware Court lacks venue or that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum.

      

      

      18.         Choice
              of Law. This Agreement shall be governed by and its provisions construed in accordance with the laws of the State of Delaware, without regard to the conflict of law principles thereof.

      

      

      
        
          

      

      19.         Duration

              of Agreement.  This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a director, officer or employee of the Company or, at the request
          of the Company, as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise or (b) two (2) years after the final termination of any proceeding then
          pending in respect of which Indemnitee is granted rights of indemnification or advancement of expenses hereunder and of any proceeding commenced by Indemnitee to enforce the provisions of this Agreement relating thereto.  This Agreement shall be
          binding upon the Company and its successors and assigns and shall inure to the benefit of Indemnitee and his heirs, executors and administrators.

      

      

      20.         Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery
          of Indemnitee, who shall execute all documents required and shall do all acts that maybe necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights.

      

      

      21.         Amendment

              and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it
          is in writing signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a
          continuing waiver.

       

      

      22          Integration

              and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and
          merges all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between the parties hereto.

      

      

      IN WITNESS WHEREOF, the parties hereto have executed this Indemnification Agreement as of the date first above written.

      

      

      	
              LISATA THERAPEUTICS, INC.

            	 	
              INDEMNITEE

            
	 	 	 
	
              By:

            	 	
              By:

            
	
              Name: David J. Mazzo, PhD

            	 	
              [                          ]

            
	
              Title: Chief Executive Officer

            	 	
              Title:  Director

            
	 	 	 
	
              Lisata Address:

            	 	
              Indemnitee Address:

            
	110 Allen Road, 2nd Floor	 	
              [                          ]

            
	 Basking Ridge, NJ 07920	 	
              [                          ]

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