Document:

Exhibit 10.2

 

GLOBAL GP LLC

AMENDMENT NO. 5 TO

EMPLOYMENT AGREEMENT

 

THIS AMENDMENT NO. 5 TO EMPLOYMENT AGREEMENT (this “Amendment”) is made and entered into as of December 31, 2011 by and between Global GP LLC, a Delaware limited liability company (the “Company”), and Edward J. Faneuil (the “Executive”).  Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in that certain Employment Agreement made as of February 1, 2007, as amended by Amendment No. 1 to Employment Agreement dated as of December 31, 2008, by Amendment No. 2 to Employment Agreement dated as of February 4, 2009, by Amendment No. 3 to Employment Agreement dated as of March 11, 2009 and by Amendment No. 4 to Employment Agreement dated as of November 2, 2010, by and between the Company and the Executive (the “Employment Agreement”).

 

WHEREAS,  the Company and the Executive desire to make certain modifications to the Employment Agreement as set forth below, and in accordance with Section 18 of the Employment Agreement.

 

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

 

1.                               Amendment to Employment Agreement.

 

Section 1 of the Employment Agreement is hereby amended to add an additional renewal period by deleting such section in its entirety and replacing it with the following new Section 1:

 

1.             Employment and Term of Employment.  Effective as of July 1, 2006 (the “Effective Date”) and continuing for the period of time set forth herein, the Executive’s employment by the Company shall be subject to the terms and conditions of this Agreement.  Unless sooner terminated pursuant to other provisions herein, the Company agrees to employ the Executive (i) for the period beginning on the Effective Date and ending on December 31, 2008 (the “Initial Term”), (ii) for the period beginning on January 1, 2009 and ending on December 31, 2011, and (iii) for the period beginning on January 1, 2012 and ending on December 31, 2014.  In the event that the Company and the Executive renew this Agreement for one or more additional periods, each of the Initial Term and any renewal periods shall be referred to as the “Term.”

 

2.            Captions.  The captions of this Amendment are for convenience and reference only and in no way define, describe, extend or limit the scope or intent of this Amendment, or the intent of any provision hereof.

 

3.          Choice of Law.  This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, other than conflicts of law provisions thereof.

 

 

4.          Severability.  The provisions of this Amendment are severable, and the invalidity of any provision shall not affect the validity of any other provision.

 

5.          Counterparts; Facsimile.  This Amendment may be executed and delivered by facsimile signature and in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

6.          Entire Agreement.  This Amendment constitutes the full and entire understanding and agreement between the parties with respect to this Amendment. Except as otherwise specifically amended herein, the Employment Agreement shall remain unchanged, in effect and in full force.

 

IN WITNESS WHEREOF, the parties have duly executed this Amendment as of the date first written above.

 

GLOBAL GP LLC

 

 

	
By:   
    	
/s/   Eric Slifka
    	
 
    
	
Name:   Eric Slifka
    
	
Title:   President and CEO
    

 

 

EDWARD J. FANEUIL

 

 

	
/s/   Edward J. FaneuilExhibit 4.1

 

TrovaGene Acquires CLIA — Certified Laboratory

 

SAN DIEGO, Jan. 6, 2012/PRNewswire/ — TrovaGene, Inc. (Pink Sheets: TROV.PK), a developer of trans-renal molecular diagnostics, today announced that it has entered into a definitive agreement to acquire MultiGEN Diagnostics, Inc.’s (‘MultiGEN’) clinical laboratory assets in exchange for the issuance of 750,000 shares of common stock of TrovaGene, with an additional earn-out of up to $3.7 million in cash and common stock, subject to the achievement of specific sales and earnings targets.  The acquisition, which is subject to customary closing conditions, is expected to close during the first quarter of 2012.  MultiGEN, a privately held molecular diagnostic company located in San Diego, CA, is a subsidiary of Canada-based Bio-ID Diagnostics, Inc. The acquired diagnostic laboratory operations are certified by the State of California in compliance with CLIA (Clinical Laboratory Improvement Amendments), and are accredited by CAP (College of American Pathologists).

 

“We are looking forward to grow MultiGEN’s existing, multiplexed-sequencing based diagnostic testing business for a variety of infectious diseases”, states Antonius Schuh, Ph.D.,TrovaGene’s Chief Executive Officer. “We will explore the feasibility to configure existing MultiGEN tests on our trans-renal platform and we plan to leverage the CLIA laboratory operations as a development and commercial platform for novel tests intended to detect minimal residual disease in oncology, based on tumor-specific mutations detectable in a patient’s urine”.

 

“Trovagene’s approach using trans-renal clinical samples adds a significant dimension to the molecular diagnostic market and we are enthusiastic about making a tangible contribution to that endeavor” comments T.V. Moorthy, Ph.D., MultiGEN’s founder and Chief Executive Officer. He further adds that “MultiGEN’s contribution will be centered around Allele Specific Multiples Sequencing (ASMS), which offers higher sensitivity for the detection of mutations in samples with heterogeneous genomes.”

 

About TrovaGene, Inc.

 

Headquartered in San Diego, California, TrovaGene is developing its patented technology for the detection of transrenal DNA and RNA, short nucleic acid fragments, originating from normal and diseased cell death that cross the kidney barrier and can be detected in urine.

 

TrovaGene has a dominant patent position as it relates to transrenal molecular testing. It has U.S. and European patent applications and issued patents that cover testing for HPV and other infectious diseases, cancer, transplantation, prenatal and genetic testing. In addition, it owns worldwide rights to nucleophosmin-1 (NPM1), an informative biomarker for acute myeloid leukemia (AML).

 

TrovaGene has filed a Form 10 with the SEC. More complete current information about TrovaGene is contained in the filing.

 

About MultiGEN

 

MultiGEN continues to operate as a molecular diagnostics company focused on DNA sequence based identification services having IP protected technologies. Using the well-documented ‘Gold-Standard’

 

 

accuracy of DNA sequencing, MultiGEN is able to provide ‘Syndrome Driven Panels’ in a single test that screens for all the pathogens or mutations that can cause a particular syndrome regardless of whether they are bacteria, viruses, fungi or parasites. MultiGEN does this with same-day reporting to better assist with the timely creation of an optimal treatment regime. MultiGEN’s other two groups of applications include developing highly sensitive assays to detect mutations among samples carrying heterogeneous genomes and applications in drug development.

 

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimated” and “intend,” among others. These forward-looking statements are based on TrovaGene’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our ability to continue as a going concern; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payer reimbursement; limited sales and marketing efforts and dependence upon third parties; and risks related to failure to obtain FDA clearances or approvals and noncompliance with FDA regulations. As with any medical diagnostic tests under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that future clinical trials discussed in this press release will be completed or successful or that any product will receive regulatory approval for any indication or prove to be commercially successful. TrovaGene does not undertake an obligation to update or revise any forward-looking statement.

 

Contact:

 

Venanzio Ciampa

 

+1 (212) 217 9065

 

venanzio@thepromofact.comExhibit 10.1

 

Execution Copy

 

SUBSCRIPTION AGREEMENT

FOR MIKE S. ZAFIROVSKI

 

DJO Global, Inc.

1430 Decision Street

Vista, California 92081

 

Gentlemen:

 

1.             The undersigned hereby tenders this subscription and applies for the purchase of the number of shares (“Shares”) of common stock of DJO Global, Inc. (the “Company”) set forth on the signature page of this agreement, at a purchase price of $16.46 per Share. Together with this Subscription Agreement, the undersigned is delivering to the Company a check payable to the Company in the full amount of the purchase price for the Shares which it is subscribing for pursuant hereto or funds by wire transfer as instructed by the Company.

 

2.             Representations and Warranties. In order to induce the Company to accept this subscription, the undersigned hereby represents and warrants to, and covenants with, the Company as follows:

 

(i)            The undersigned has received and carefully reviewed DJO Finance LLC’s Annual Report on Form 10-K for the year ending December 31, 2010 (“Form 10-K”) and Quarterly Reports on Form 10-Q for the fiscal quarters ending April 2, 2011, July 2, 2011 and October 1, 2011 (collectively, the “Form 10-Q”) and except for the Subscription Agreement, the Form 10-K and the Form 10-Q, the undersigned has not been furnished with any other materials or literature relating to the offer and sale of the Share;

 

(ii)           The undersigned has had a reasonable opportunity to ask questions of and receive answers from the Company concerning the Company and the offering, and all such questions, if any, have been answered to the full satisfaction of the undersigned;

 

(iii)          No representations or warranties have been made to the undersigned by the Company or any agent, employee or affiliate of the Company and in entering into this transaction the undersigned is not relying upon any information, other than the undersigned’s review of the Company’s Form 10-K and Form 10-Q and the results of any independent investigation by the undersigned;

 

(iv)          The Questionnaire and Representation Letter being delivered by the undersigned to the Company simultaneously herewith is true, complete and correct in all material respects; and the undersigned understands that the Company has determined that the exemption from the registration provisions of the Securities Act of 1933, as amended (the “Act”), relating to non-public offerings is applicable to the offer and sale of the Shares, based, in part, upon the representations, warranties and agreements made by the undersigned herein and in the Questionnaire and Representation Letter referred to above;

 

 

(v)           The undersigned understands that (a) the Shares have not been registered under the Act or qualified under the securities laws of any state, based upon exemptions from such registration and qualification requirements for non-public offerings under the Act and exemptions contained in applicable state laws; (b) the Shares are and will be “restricted securities”, as said term is defined in Rule 144 of the Rules and Regulations promulgated under the Act; (c) the Shares may not be sold or otherwise transferred unless they have been first registered under the Act and all applicable state securities laws, or unless exemptions from such registration provisions are available with respect to said resale or transfer; (d) the Company is under no obligation to register the Shares or the securities comprising the Shares under the Act or qualify the Shares under any state securities laws, or to take any action to make any exemption from any such registration or qualification provisions available; and (e) the certificates for the Shares will bear a legend to the effect that the transfer of the securities represented thereby is subject to the restrictions described herein;

 

(vi)          The undersigned understands that no public market for our shares currently exists and no assurance can be given that a public market for our shares will arise in the future.

 

(vii)         The undersigned understands that the Shares are also restricted by the provisions of a Management Stockholders Agreement and that the Shares will bear a legend to the effect that transfer of the Shares is subject to the provisions thereof.

 

(viii)        The undersigned understands that our common stock is controlled by an affiliate of The Blackstone Group L.P. (“Blackstone”) and that Blackstone will be able to substantially influence all matters requiring stockholder approval, including election of directors and approval of significant corporate transactions.

 

(ix)           The undersigned is acquiring the Shares solely for the account of the undersigned, for investment purposes only, and not with a view towards the resale or distribution thereof;

 

(x)            The undersigned has knowledge and experience in financial and business matters such that he or she is capable of evaluating the merits and risks of an investment in the Shares; and

 

(xi)           The undersigned has full power and authority to execute and deliver this Subscription Agreement and to perform the obligations of the undersigned hereunder; and this Subscription Agreement is a legally binding obligation of the undersigned in accordance with its terms.

 

3.             The undersigned understands that this subscription is not binding upon the Company until the Company accepts it, which acceptance is at the sole discretion of the Company and is to be evidenced by the Company’s execution of this Subscription Agreement where indicated. This Subscription Agreement shall be null and void if the Company does not accept it as aforesaid.

 

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4.             The undersigned agrees to indemnify the Company and hold it harmless from and against any and all losses, damages, liabilities, costs and expenses which it may sustain or incur in connection with the breach by the undersigned of any representation, warranty or covenant made by it herein.

 

5.             The undersigned agrees to become a party to the Management Stockholders Agreement, dated as of November 3, 2006 and subsequently amended on November 20, 2007, by and among DJO Global, Inc. (f/k/a DJO Incorporated, ReAble Therapeutics Inc., and Encore Medical Corporation), certain Blackstone affiliates, and the management stockholders party thereto, which is attached as Exhibit A hereto.

 

6.             Neither this Subscription Agreement nor any of the rights of the undersigned hereunder may be transferred or assigned by the undersigned.

 

7.             This Subscription Agreement (i) may only be modified by a written instrument executed by the undersigned and the Company; (ii) sets forth the entire agreement of the undersigned and the Company with respect to the subject matter hereof; (iii) shall be governed by the laws of the State of California applicable to contracts made and to be wholly performed therein; and (iv) shall inure to the benefit of, and be binding upon the Company and the undersigned and its respective heirs, legal representatives, successors and assigns.

 

8.             All notices or other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered personally or mailed by certified or registered mail, return receipt requested, postage prepaid, as follows:  if to the undersigned, to the address set forth below; and if to the Company, to DJO Global, Inc., 1430 Decision Street, Vista, California 92081, Attention: General Counsel — or to such other address as the Company or the undersigned shall have designated to the other by like notice.

 

[remainder of page intentionally left blank]

 

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IN WITNESS WHEREOF, the undersigned has executed this Subscription Agreement this        day of January, 2012.

 

	
Number of Shares Subscribed For (at $16.46 per   Share):
    	
 
    	
60,753
    	
 
    
	
(Minimum purchase of 60,753 shares)
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Total Purchase Price (No. of Shares   multiplied by $16.46 per share) =
    	
 
    	
$
    	
999,994.38
    	
 
    
					

 

 

	
Signature:
    	
 
    	
 
    
	
 
    	
 
    
	
Print   Name: 
    	
Mike   S. Zafirovski
    	
 
    
					

 

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ACCEPTANCE OF SUBSCRIPTION

 

DJO GLOBAL, INC.

 

The foregoing subscription is hereby accepted by DJO Global, Inc. this        day of January, 2012, for 60,753 Shares.

 

 

	
 
    	
DJO   GLOBAL, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

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EXHIBIT A:

 

Management Stockholders Agreement, dated as of November 3, 2006 and amended on November 20, 2007, by and among DJO Global, Inc. (f/k/a DJO Incorporated, ReAble Therapeutics Inc., and Encore Medical Corporation), certain Blackstone affiliates, and the management stockholders party thereto

 

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