Document:

Exhibit 10.1 

 

 

	 	
        4 West 4th Ave. Suite 400

        San Mateo, CA 94402
	
        (650) 458-2670 Tel.

        (415) 875-7075 Fax

 

 

 

November 2, 2012

 

 

Darlene Horton, M.D.

[ADDRESS]

 

 

Dear Dr. Horton:

 

Reference is made to the
letter agreement dated on or about August 3, 2012 (the “Agreement”), between you and Nile Therapeutics, Inc. ( “Nile”
or the “Company”). This letter agreement is intended to confirm our recent discussions concerning amending the terms
of your employment with the Company, as follows:

 

		1.	Deferral of Base Salary. Paragraph 2 of the Agreement shall be amended and restated in its entirety, as follows:

 

		“2.	Beginning with the Commencement Date and until a Compensation Adjustment Event (as defined below) has occurred, your monthly
base salary (the “Base Salary”) will be $28,314, payable in accordance with Nile’s normal payroll procedures.
However, notwithstanding the preceding sentence, commencing November 1, 2012, the Company shall only be obligated to pay to you
$100 of such monthly Base Salary, and you agree that the balance of the Base Salary (the “Deferred Salary”) shall be
deferred and become payable to you, if ever, upon completion of an Interim Financing Event (as defined below) prior to December
31, 2013 and subject to your continued employment with the Company. 

 

			In addition, if the Company completes a Change of Control Transaction prior to the date of a Compensation Adjustment Event,
and your employment is terminated by the Company (or any successor entity) without “cause” during the period beginning
on the effective date of the Change of Control Transaction and ending on the six-month anniversary of such effective date, then
you will be entitled to receive a cash payment equal to 5% of the applicable Change of Control Proceeds (defined below).”

 

		2.	Definition. A definition of “Interim Financing Event” shall be added as Subparagraph 8(e) of the Agreement,
as follows:

 

		“(e)	“Interim Financing Event” means the consummation on or before December 31, 2013, of one or more transactions pursuant
to which the Company shall have received, whether by a financing, strategic transaction or another means (or any combination thereof),
an aggregate of at least $1,000,000 in gross proceeds. For the avoidance of doubt, a Compensation Adjustment Event or a Change
of Control Transaction shall constitute an Interim Financing Event provided it otherwise satisfies the conditions described in
the preceding sentence.”

 

 

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		3.	Miscellaneous. All capitalized terms used but not defined in this letter agreement shall have the meanings given to
such terms in the Agreement. Except as modified by this letter Agreement, all other terms and conditions of the Agreement are hereby
confirmed and shall continue in full force and effect.

 

 

If you find the foregoing acceptable, please
kindly so indicate by executing and dating the attached copy of this Letter in the space provided and returning a copy to me before
that time.

 

	 	Very truly yours,	 
	 	 	 
	 	NILE THERAPEUTICS, INC.	 
	 	 	 
	 	 	 
	 	/s/ Pedro Granadillo	 
	 	Pedro Granadillo	 
	 	Chairman, Compensation Committee of the
	 	Board of Directors	 

 

 

Agreed and accepted this

5th day of November, 2012:

 

 

 

	/s/ Darlene Horton, M.D.	 

Darlene Horton, M.D.

 

 

 

 

2 | PageSHARE PURCHASE AND CANCELLATION AGREEMENT

 

THIS
AGREEMENT (the Agreement”) is hereby made effective this 29th day of October 2012, by and between METHA ENERGY SOLUTIONS
INC., a Delaware corporation (the "Company"), and TOFT APS
(the "Shareholder") with an address at Roennegade 9, 2100 Oesterbro, Denmark.

 

RECITALS

 

WHEREAS, the Company
owns the interests listed on Schedule A (the “Interests”) attached hereto;

 

WHEREAS, the Shareholder
is the holder and owner of ten million (10,000,000) shares of the Company’s common stock, par value $0.001 per share (the
“Shares”);

 

WHEREAS, the Shareholder
agrees to sell and the Company agrees to purchase and cancel the Shares in exchange for consideration as set forth herein below;

 

WHEREAS, the Company
and the Shareholder deem it to be in their respective best interests to enter into this transaction pursuant to the terms and conditions
of the Share Exchange Agreement dated October [ ], 2012, of which this Agreement is made a part thereto.

 

NOW THEREFORE THIS
AGREEMENT WITNESSETH that in consideration of the mutual covenants contained herein (the sufficiency whereof is hereby acknowledged
by the parties hereto), the parties hereby agree to and with each other as follows:

 

AGREEMENT

 

1.     STOCK
PURCHASE. The Shareholder agrees to sell to the Company the Shares for consideration set forth in Sections 2 and Section
3.

 

2.     PURCHASE
PRICE. The Company agrees to purchase the Shares at a purchase price of One Hundred and Seventy-Five Thousand and NO/100 Dollars
(USD $175,000.00) (the “Purchase Price”).

 

3.     SALE
OF INTEREST. The Company agrees to sell and assigns and the Shareholder agrees to purchase from the Company, the Interests.

 

4.     CANCELLATION
OF THE SHARES. The Shares shall be cancelled and returned to the treasury effective on the date of this Agreement.

 

5.     RELEASE.
The Shareholder, together with its heirs, executors, administrators, and assigns, does hereby remise, release and forever discharge
the Company, its respective directors, officers, shareholders, employees and agents, and their respective successors and assigns,
of and from all claims, causes of action, suits and demands whatsoever which Shareholder ever had, now or may have howsoever arising
out of the original grant and this cancellation of the Shares.

 

6.     INDEMNIFICATION.
The Shareholder shall indemnify and hold the Company harmless from and against any and all costs or expenses (including
attorneys’ fees), judgments, fines, losses, claims, damages, liabilities and amounts paid in settlement arising, directly
or indirectly, out of the Interest prior to and after the date hereof.

 

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7.     MUTUAL
REPRESENTATIONS. The Company hereby represents and warrants to the Shareholder that it owns, of record and beneficially, and
has good and marketable title to the Interests, all of which are free and clear of all liens, charges and encumbrances. The Shareholder
hereby represents and warrants to the Company that he owns, of record and beneficially, and has good and marketable title to the
Shares, all of which are free and clear of all liens, charges and encumbrances. As may be required, the parties will execute and
deliver all such further documents (including but not limited to appropriate instruments of transfers and bought and sold notes),
do or cause to be done all such further acts and things, and give all such further assurances as in the opinion of the Company
or its counsel are necessary or advisable to give full effect to the provisions and intent of this Agreement.

 

8.     MISCELLANEOUS.

 

5.1       Stamp
Duty, Legal and Accounting Fees. All stamp duty payable in Delaware in connection with the sale and purchase of shares
in the Company shall be borne by the respective transferees and transferors in equal shares. The Shareholders and the Company shall
each be responsible to pay their respective legal and accounting fees incurred by them in connection with the transactions contemplated
by this Agreement, unless otherwise mutually agreed to in writing.

 

5.2       Waiver
of Breach. All waivers under this Agreement shall be in writing. Any waiver by a party of the breach of any provision or of
any condition precedent of this Agreement shall not operate as a waiver of any subsequent breach of that provision or as a waiver
of the breach of any other provision or of any other condition precedent.

 

5.3         Severability.
If any one or more provisions of this Agreement shall be adjudged or declared illegal or unenforceable, the same shall not in any
way affect or impair the validity or enforceability of all or any other provision of this Agreement.

 

5.4         Governing
Law. This Agreement and the performance hereof shall be construed and interpreted in accordance with the laws of Delaware.
Any dispute arising under or out of this Agreement shall be submitted for resolution to an applicable state or federal court of
competent jurisdiction that is located in Delaware.

 

5.5         Venue;
Waivers. The Shareholder and Company irrevocably agree that all actions or proceedings in any way, manner or respect, arising
out of or from or related to this agreement shall be litigated in courts having situs within the State of Delaware. The Shareholder
and Company hereby waive any right they may have to transfer or change the venue of any litigation brought by another party hereto
in accordance with this paragraph.

 

5.6         Assignment.
No party may assign its rights, interest or obligations under this Agreement without the prior approval in writing of the other
party.

 

5.7         No
Third Party Beneficiaries. This Agreement shall not confer any rights or remedies on any Person other than the parties and
their respective successors and permitted assigns.

 

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5.8         Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto in connection with the subject matter
hereof. This Agreement may not be modified, amended, altered or extended orally, and no modification shall be effective unless
in writing and signed by the parties hereto.

 

5.9         Binding
Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, representatives,
successors and assigns.

 

5.10       Notices.
All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing, and shall
be deemed to have been given, when received, if delivered in person or by a reputable courier service (such as Federal Express),
or three (3) business days following mailing, if mailed by certified mail, return receipt requested, postage prepaid, as follows:

 

		IF TO SHAREHOLDER:	Toft ApS

Roennegade 9

2100 Oesterbro, Denmark

Attn: Jesper Toft

Telephone No.:

Facsimile No.:

 

		IF TO COMPANY:	METHA ENERGY SOLUTIONS INC.

c/o Anslow & Jaclin, LLP

195 Route 9 South, Second Floor

Manalapan, New Jersey 07726

Attn: Gregg E. Jaclin, Esq.

Telephone No.: 732-409-1212

Facsimile No.: 732-577-1188

 

5.11       Exhibits
and Schedules. The Exhibits and Schedules attached hereto constitute an integral part of this Agreement. Terms defined in this
Agreement that are used in any Exhibit or Schedule attached hereto and are not otherwise defined therein shall have the meanings
assigned to such terms in this Agreement. Terms defined in any Exhibit or Schedule attached hereto that are used in this Agreement
or in any other Exhibit or Schedule which are not otherwise defined herein shall have the meanings assigned to such terms in such
Exhibit or Schedule.

 

5.12       Headings.
The headings contained in this Agreement are for convenience of reference only and shall not affect the meaning and interpretation
of this Agreement.

 

5.13       Counterparts.
This Agreement may be executed in multiple counterparts, each of which will be considered an original but all of which will constitute
the same instrument, notwithstanding that fewer than all of the parties have signed the same counterpart. A counterpart signature
page transmitted by facsimile machine will be given the same effect as an original signature page. Any party signing this Agreement
by facsimile must provide the other parties with a manually signed signature page within ten (10) days after the date of this Agreement.

 

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IN WITNESS WHEREOF,
the parties hereto have placed their signatures hereon on the day and year first above written.

 

	 	THE SHAREHOLDER:
	 	 
	 	Toft ApS
	 	 
	 	/s/ Jesper Toft
	 	Name: Jesper Toft
	 	Title:
	 	 
	 	THE COMPANY:
	 	 
	 	METHA ENERGY SOLUTIONS INC.,
	 	A Delaware Corporation
	 	 
	 	/s/ Jesper Toft
	 	Name: Jesper Toft
	 	Title: President and Chief Executive Officer

 

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SCHEDULE A

 

		1.	License to use a copy of the data mining and media intelligence
software;

 

		2.	Exclusive Distribution Agreement – United States,
Canada, Israel, and the United Nations (“U.S. Agreement”) dated August 27, 2009 by and between the Company and Serenergy
A/S;

 

		3.	U.S. Agreement Amendment dated as of November 10, 2009;

 

		4.	U.S. Agreement Amendment II dated as of January 12, 2010’

 

		5.	U.S. Agreement Amendment III dated as of February 8,
2010;

 

		6.	Exclusive Distribution and Manufacturing License Agreement
– Vehicles (“Vehicles Agreement”) dated August 27, 2009 by and between the Company and Serenergy A/S;

 

		7.	Vehicles Agreement Amendment dated as of November 10,
2009;

 

		8.	Vehicles Agreement Amendment dated as of January 12,
2010;

 

		9.	Vehicles Agreement Amendment dated as of February 8,
2010;

 

		10.	Merger Agreement dated May 3, 2010 by and between the
Company and Serenergy A/S;

 

		11.	Merger Agreement dated October 15, 2010 by and between
the Company and Serenergy A/S;

 

		12.	Settlement Agreement dated March 15, 2011 by and between
the Company and Serenergy A/S; and

 

		13.	Settlement Agreement Amendment dated January 12, 2010
by and between the Company and Serenergy A/S.

 

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