Document:

Document

Exhibit 10.1

June 22, 2021

Ronald W. Kisling

[Address intentionally omitted]
Re:     Employment Terms
Dear Ron: 
On behalf of Fastly, Inc. (“Fastly” or "the “Company”), we are pleased to offer you the position of Chief Financial Officer under the terms set forth in this letter. 
Location. You will principally work remotely from your home until such time Fastly offices reopen, upon which your primary work location will become the Fastly office in San Francisco, CA. 
Duties and Reporting Relationship. As Chief Financial Officer, you will report to Joshua Bixby.  You may be asked to perform other duties as our business needs dictate. 
Base Salary. Your initial base salary will be at an annual rate of $600,000 subject to applicable deductions and withholdings and paid on the Company’s normal payroll schedule.  As a full-time, salaried, exempt employee you will be expected to work the Company’s normal business hours and additional hours as required by your job duties, and you will not be eligible for overtime pay. 
Standard Benefits and Paid Time Off. You will be eligible to participate in all benefits which Fastly makes generally available to its regular full-time employees in accordance with the terms and conditions of the benefit plans and Company policies, including health insurance, dental insurance, paid time off and holidays. The Company reserves the right to modify or cancel any or all of its benefit programs at any time. Further details about Fastly’s benefit plans are available for your review in the benefit Summary Plan Documents. 
Equity Compensation. Subject to the approval of the Company’s Board of Directors or its designated Committee (the “Board”), you will be granted an award of restricted stock units covering shares of the Company’ s Class A common stock (“RSUs”) with a value of USD $10,000,000 (the “RSU Grant”). The number of RSUs under the RSU Grant will be determined by the Board using the Company’s standard practices.  This RSU Grant will vest in 16 equal quarterly installments (i.e. 6.25% of the total RSUs will vest per quarter), in each case subject to your continued service with the Company. In 2022, you will be eligible to receive an annual equity refresh and/or performance RSU grant, as determined by the Board using the Company’s standard executive compensation practices. These awards will be subject to the provisions of the Company’s 2019 Equity Incentive Plan (the “Plan”) and related award agreements.  In case of any conflict between the terms of this offer letter agreement and the Plan or any award agreement thereunder, the terms of the Plan and award agreement will control.
Severance Plan. While the Company may change your position, reporting relationship, duties, compensation and work location from time to time at its discretion, you will be entitled to participate in the Company’s Executive Change in Control and Severance Benefit Plan, a copy of which will be provided under separate cover.
Expenses. During your employment, your reasonable, documented business expenses will be reimbursed by the Company in accordance with its standard policies and practices. You will be entitled to travel business class for all air travel.
Confidentiality, Arbitration and Policies. As a condition of your employment, you will be required to sign and comply with the Company’s standard Employee Confidential Information and Inventions Assignment Agreement (attached as Exhibit A). You are also required to acknowledge that you have reviewed and understand your rights 
Ron Kisling Page 1

under the Company’s Arbitration Agreement (attached as Exhibit B). In addition, you will be required to abide by all applicable Fastly policies and procedures as may be in effect from time to time, including but not limited to its employment policies, and from time to time you will be required to acknowledge in writing that you have reviewed and will comply with the Company’s policies.
At-Will Employment Relationship. Your employment is not for any fixed period of time, and it is terminable at-will. Thus, either you or the Company may terminate your employment relationship at any time, with or without cause, and with or without advance notice.  Although not required, the Company requests that you provide at least two weeks’ advance written notice of your resignation, to permit you and the Company to arrange for a smooth transition of your workload and attend to other matters relating to your departure.
Conditions. This offer of employment and your employment with the Company is contingent upon satisfactory results of a background check to be performed pursuant to your written authorization. You agree to assist as needed, and to complete any documentation at the Company’s request, to meet these conditions.
Miscellaneous.  This letter, together with Exhibit A and Exhibit B, constitutes the complete and exclusive statement of your agreement with the Company regarding the terms of your employment with Fastly. It supersedes any other agreements or promises made to you by any party, whether oral or written. The terms of this offer letter agreement cannot be amended or modified (except with respect to those changes expressly reserved to the Company’s discretion in this letter), without a written modification signed by you and a duly authorized officer of the Company. The terms of this offer letter agreement are governed by the laws of the State of California without regard to conflicts of law principles. With respect to the enforcement of this offer letter agreement, no waiver of any right hereunder shall be effective unless it is in writing. For purposes of construction of this offer letter agreement, any ambiguity shall not be construed against either party as the drafter. This offer letter agreement may be executed in more than one counterpart, and signatures transmitted via facsimile or PDF shall be deemed equivalent to originals. As required by law, this offer is subject to satisfactory proof of your identity and right to work in the United States.

[Remainder of page intentionally left blank.]

Ron Kisling Page 2

We are very pleased that you will be joining Fastly. Please sign and date this letter and the enclosed exhibits and return them to us by the close of business on June 24, 2021 if you wish to accept employment under the terms described above. If we do not receive the fully signed letter and the signed Exhibit A and Exhibit B from you by that date, the Company’s offer in this letter will expire. In addition, this offer will expire if you do not provide the requested authorization to perform a background check within 72 hours of your acceptance of this offer. If you accept our offer, we would like you to start on Monday, August 9, 2021 (or sooner, if feasible).

Sincerely,
Fastly, Inc.
/a/ 
/s/ Joshua Bixby                                                    
Joshua Bixby, CEO
 
Exhibit A – Employee Confidential Information and Inventions Assignment Agreement
Exhibit B – Arbitration Agreement
 
Understood and Accepted:            Date:
/s/                        /d/
/s/ Ron Kisling                                                                   6/22/2021                                                      
/n/                                                                                      
 

Ron Kisling Page 3

Exhibit A
FASTLY, INC
Employee Confidential Information and Inventions Assignment Agreement

 

Ron Kisling Page 4

Exhibit B
FASTLY, INC.
Arbitration Agreement

Ron Kisling Page 5Exhibit 10.1

 

FIRST
AMENDMENT TO

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

 

This
First Amendment (this “Amendment”) to the Amended and Restated Employment Agreement dated as of June 25, 2021, and
effective as of July 1, 2021, is entered into between by and between Hoth Therapeutics, a Nevada corporation (the “Corporation”),
and Robb Knie (the “Executive”). All capitalized terms used herein but not otherwise defined shall have the meanings
set forth in the Agreement (as defined herein).

 

WHEREAS,
the Corporation and Executive entered into that certain Amended and Restated Employment Agreement dated as of February 20, 2019 (the
“Agreement”); and

 

WHEREAS,
the Company and Executive desire to make certain amendments to the Agreement as set forth herein.

 

NOW
THEREFORE, in consideration of the above, and for good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree as follows:

 

		1.	Section
                                            4(a) of the Agreement is hereby amended and restated in its entirety as follows:

 

(a)
The Corporation shall pay the Executive as compensation for his services hereunder, in equal semi-monthly or bi-weekly installments during
the Term, the sum of $450,000 per annum, less such deductions as shall be required to be withheld by applicable law and regulations.
The Corporation shall review the Base Salary on an annual basis and has the right but not the obligation to increase it, but has no right
to decrease the Base Salary. Executive’s annual rate of base salary, as in effect from time to time, is hereinafter referred to
as the “Base Salary.”

 

		2.	Section
                                            4(b) of the Agreement is hereby amended and restated in its entirety as follows:

 

(b)
In addition to the Base Salary set forth in Section 4(a) above, the Executive shall be entitled to receive an annual cash bonus (“Annual
Bonus”) in an amount up to $350,000 if the Corporation meets or exceeds criteria adopted by the Compensation Committee of the Board
(the “Compensation Committee”) for earning bonuses, which criteria shall be adopted by the Compensation Committee annually
after consultation with the Executive and which criteria must be reasonably likely to be attainable. The Annual Bonus may be increased
by the Compensation Committee, in its sole discretion, upon the achievement of additional criteria established by the Compensation Committee
from time to time. Annual Bonuses shall be paid by the Corporation to the Executive promptly after the year end, it being understood
that the Compensation Committee’s determinations concerning attainment of any financial targets associated with any bonus determination
shall not be determined until following the completion of the Corporation’s annual audit, if any, but in no event later than April
15th of the year following the year for which it is being paid (and if the Executive was employed as of last day of the calendar year
to which such Annual Bonus relates, then the Executive shall be entitled to the Annual Bonus for such year, even if he is not employed
by the Corporation on the date the Annual Bonus is paid for such last year). For the avoidance of doubt, if Executive is employed upon
expiration of the term of this Agreement, he shall be entitled to the Annual Bonus for such last year on a pro-rata basis through the
last date of employment, even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year. In his
sole discretion, the Executive may elect to receive all or a portion of the Annual Bonus in shares of the Corporation’s common
stock at the basis determined by the Compensation Committee in good faith.

 

    

     

    

 

		3.	Section
                                            6(a) of the Agreement is hereby amended and restated in its entirety as follows:

 

(a)
Upon termination of the Executive’s employment pursuant to Section 5(a)(i) (Death) or (ii) (Disability), in addition to the accrued
but unpaid compensation and vacation pay through the date of death or Total Disability and any other benefits accrued to him under any
Benefit Plans outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such date, the Executive
or his estate or beneficiaries, as applicable, shall be entitled to the following severance benefits: (i) twenty-four (24) months’
Base Salary at the then current rate, payable in a lump sum, less withholding of applicable taxes, within thirty (30) days of the date
of termination; (ii) if the Executive elects continuation coverage for group health coverage pursuant to COBRA Rights, then for a period
of twenty-four (24) months following the Executive’s termination he will be obligated to pay only the portion of the full COBRA
Rights cost of the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective plan year
and, to the extent required by any applicable nondiscrimination rules, the Company’s share of such premiums (the “Employer-Provided
COBRA Premium”) shall be treated as taxable income to the Executive; and (iii) payment on a pro-rated basis of any Annual Bonus
or other payments earned in connection with any bonus plan to which the Executive was a participant as of the date of death or Total
Disability. This Section 6(a) shall not terminate or otherwise interfere with any right to disability payments.

 

		4.	Section
                                            6(b) of the Agreement is hereby amended and restated in its entirety as follows:

 

(b)
Upon termination of the Executive’s employment pursuant to Section 5(a)(iv) (Voluntary Termination by Executive), 5(a)(v) (Termination
for Good Reason), 5(a)(vii) (Termination by the Company Without Cause) or 5(a)(viii) (Termination Within Forty Days of a Change in Control),
in addition to the accrued but unpaid compensation and vacation through the date of termination and any other benefits accrued to him
under any Benefit Plans outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such date,
the Executive shall be entitled to the following severance benefits: (i) twenty-four (24) months’ Base Salary at the then current
rate, to be paid in a single lump sum payment not later than thirty (30) days following such termination, less withholding of all applicable
taxes; (ii) if the Executive elects continuation coverage for group health coverage pursuant to COBRA Rights, then for a period of twenty-four
(24) months following the Executive’s termination he will be obligated to pay only the portion of the full COBRA Rights cost of
the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective plan year and, to the extent
required by any applicable nondiscrimination rules, the Employer-Provided COBRA Premium shall be treated as taxable income to the Executive;
and (iii) payment on a pro-rated basis of any Annual Bonus or other payments earned in connection with any bonus plan to which the Executive
was a participant as of the date of the Executive’s termination of employment; provided, however, that the pro-rated Annual Bonus
payable pursuant to Section 6(b)(iii) shall be no less than $200,000. In addition, any equity grants issued to Executive shall immediately
vest upon termination of Executive’s employment pursuant to Section 5(a)(v) or 5(a)(vii).

 

		5.	This
                                            Amendment shall be for the benefit of and be binding upon, the parties hereto and their respective
                                            successors and assigns. Except as amended hereby, the terms and provisions of the Agreement
                                            shall remain in full force and effect, and the Agreement is in all respects ratified and
                                            confirmed. On and after the date of this Amendment, each reference in the Agreement to the
                                            “Agreement”, “hereinafter”, “herein”, “hereinafter”,
                                            “hereunder”, “hereof”, or words of like import shall mean and be
                                            a reference to the Agreement as amended by this Amendment. This Amendment shall be construed,
                                            enforced, and governed under the internal laws of the State of New York, without giving effect
                                            to any choice of law provision or rule of any other jurisdiction. This Amendment may be executed
                                            in counterparts, each of which shall be deemed an original but all of which together will
                                            constitute one and the same instrument. Counterpart signature pages to this Amendment transmitted
                                            by facsimile transmission, by electronic mail in portable document format (.pdf), or by any
                                            other electronic means intended to preserve the original graphic and pictorial appearance
                                            of a document, will have the same effect as physical delivery of the paper document bearing
                                            an original signature.

 

[Signature
Page Follows]

 

    -2-

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first indicated above.

 

	 	HOTH
    THERAPEUTICS, INC.
	 	 	 
	 	By:
    	/s/
    Wayne Linsley
	 	Name:
    	Wayne
    Linsley
	 	Title:
    	Chairman
    of the Compensation  Committee
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	By:	/s/ Robb
    Knie
	 	     	Robb
    Knie

 

 

 

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