Document:

EXHIBIT 10.6

 

 

April 18, 2017

RE: Offer of Employment Dear Mr. Burns:

Dear Mr. Burns:

I am pleased to offer you a position with Petrolia Energy, a Texas Corporation (the “Company”).  This letter serves to confirm to you our offer of employment pursuant to the following terms and conditions:

1          Position.   If you decide to join us, you will start in a full-time position as President beginning on Wednesday, April 19, 2017.  You will have the duties and responsibilities customarily associated with such position and otherwise assigned to you by the Company. By signing this letter, you confirm to the Company that you are under no contractual or other legal obligations that would prohibit you from performing your duties for the Company. Your will report directly to the Chief Executive Officer of the Company.

2.          Compensation and Employee Benefits. You will be paid a minimum salary at the rate of $300,000 per year, which will be paid bi-weekly in accordance with the Company's standard payroll procedures. The annual bonus is based on the annual performance of the Company's stock which is set at starting base of $0.14. For example, if the annualized increase of the Company's stock for the previous year is 20%. the minimum bonus would be $60,000 (Salary X 20%). Furthermore, for the first year of your employment with the Company, you have agreed to be paid the $300,000 per year salary in the form of 1,400.000 common shares of Petrolia and $100,000 in annual cash salary. The $100,000 paid in salary portion would immediately commence after $1 million is raised from the 4-19-17 Preferred Series A Offering or a material event which brings cash into the Company (asset sale or change of control). A one-time signing bonus of 1,000.000 shares of Petrolia will be granted to you upon execution of this agreement.

3.          Annual Performance Options. The initial target Performance Option grant is 1,000,000 Class A Units at an exercise price of $0.14, Subject to Award vested equally over 36 months from grant date. Subsequent years annual Performance Option grants will be determined by the Executive Incentive Plan.

4.          Benefits.  As a Company employee, you will also be eligible to participate in a number of Company sponsored benefits as offered to its employees as they are adopted and introduced, all as determined by the Company. You will also be entitled to 6 weeks paid personal time off benefits in accordance with the Company's personal time off policy for employees, with the timing and duration of specific vacations to be mutually and reasonably agreeable to you and your Manager.

5.          Withholding Taxes. All forms of compensation referred to in this letter are subject to any applicable withholding and payroll taxes.

6.          Confidential Information and Limited Non-competition Agreement. As a condition to your employment with the Company, you will be required to sign the Company's standard Confidential Information, a copy of which is enclosed with this letter.

710 N Post Oak Road, Suite 512, Houston, TX  77024

 

 

7.          Employment Relationship.

(a) Employment with the Company is for no specific period of time and constitutes at will" employment. As a result, you are free to resign at any time, for any reason or no reason at all, we request, however, that in the event of resignation, you give the Company at least two-weeks prior notice. The Company will provide you with 30 days notice prior to any termination. Nothing in this letter or any written or oral statement by the Company or any other person shall alter the "at will" nature of your employment with the Company.  If the employee resigns or terminates the employment relationship, there is no additional compensation due the employee other than what has already been earned (ex. annual bonus, Performance Options, etc.).  If the employer terminates the employment relationship, the employer will pay 1 2 months' base

salary as compensation in addition to the compensation during the 30 days notice.

(b) As a Company employee, you will be expected to abide by all Company rules and regulations. Any contrary representations that may have been made to you are superseded by this offer.  You acknowledge that you have been provided with a copy of the Company's employee handbook which sets forth, among other things, several rules and regulations of the Company. You agree to abide by the policies, statements, rules and regulations set forth in such handbook and acknowledge that the Company is authorized to take the actions permitted in such handbook.

(c) Normal working hours are from 9:00 a.m. to 6:00 p.m., Monday through Friday, as an exempt employee you will he expected to work additional hours as required by your assignments yet you will also be allowed to work from home when appropriate.

(d) The Company reserves the right to conduct background investigations, reference checks and/or drug or alcohol tests on all its potential and existing employees. Your job offer and continued employment, therefore, are contingent upon a clearance of such a background investigation, reference check and/or drug or alcohol tests, if any.

(e) This Section 7 is the full and complete agreement between you and the Company on the terms set forth in this Section 7. Although your job duties, compensation and benefits, as well as the Company's personnel policies and procedures, may change from time to time, the "at will" nature of your employment may only be changed in an express written agreement signed by you and by the Chief Executive Officer of the Company.

8.          Outside Activities.  During the term of your employment, you agree that you will not engage in any other employment, consulting or other business activity that would conflict with the Company's core business. While you render services to the Company, you also will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees of the Company.

9.          Federal Immigration Law. As required by federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States (including, without limitation a Form 1-9 and a valid social security number). Such documentation must be provided to us within three (3) business days of your date of hire. or our employment relationship with you will be terminated.

710 N Post Oak Road, Suite 512, Houston, TX  77024

 

 

10.          ARBITRATION. IN THE EVENT OF ANY DISPUTE OR CLAIM RELATING TO OR ARISING OUT OF OUR EMPLOYMENT RELATIONSHIP, YOU AND THE COMPANY AGREE THAT ALL SUCH DISPUTES SHALL BE FULLY AND FINALLY RESOLVED IN THROUGH THE ARBITRATION PROCESS WHICH WILL BE FULLY PAID FOR BY THE COMPANY. THE ARBITRATION SHALL BE CONDUCTED BY AN ARBITRATOR(S) PROVIDED BY AN IMPARTIAL THIRD-PARTY. HOWEVER, BOTH PARTIES AGREE THAT THE ALTERNATE DISPUTE RESOLUTION PLAN SHALL NOT APPLY TO ANY DISPUTES OR CLAIMS RELATING TO OR ARISING OUT OF THE MISUSE OR MISAPPROPRIATION OF THE COMPANY'S TRADE SECRETS, PROPRIETARY INFORMATION OR OTHER PROPERTY.

 

11.   Entire Agreement. This offer letter and the Confidential Information and Limited Noncompetition Agreement set forth the terms of your employment with the Company and supersede and replace any prior understandings or agreements, whether oral or written. This offer letter may not be modified or amended except by express written agreement that is signed by you and by the Chief Executive Officer of the Company. This offer, if not accepted, will expire at the close of business on Friday, April 21, 2017.

 

We are very excited about your decision to join our team, and hope that you find the foregoing terms acceptable. To indicate your agreement with these terms and acceptance of our offer, please sign and date this letter and the attached Confidential Information and Limited Non-competition Agreement in the spaces provided and return them to me. A duplicate original of this offer letter is enclosed for your records.

Sincerely,

PETROLIA ENERGY

By: ________________________________

Zel C Khan, CEO

I HAVE READ AND HEREBY ACCEPT THIS OFFER OF EMPLOYMENT:

Signature: ___________________________

James E Burns

Dated:  April 18, 2017

Enclosures:           Duplicate Original Letter and

Confidential Information Agreement

 

 

710 N Post Oak Road, Suite 512, Houston, TX  77024Exhibit 10.1

 

NORTHWEST BIOTHERAPEUTICS,
INC.

LOAN AGREEMENT and PROMISSORY NOTE

 

	US $_____	April 19, 2017

 

 

SECTION 1. GENERAL.

 

______ (the
“Holder”) hereby grants to Northwest Biotherapeutics, Inc., a Delaware company (the
“Maker” or the “Company”) a loan of Three Hundred Fifty Thousand Dollars (US $______)
(the “Principal Amount”) on the terms and conditions set forth in this Loan Agreement and Promissory Note
(this “Note”). Holder will deliver the Principal Amount to the Company in US dollars in immediately
available funds, at the account notified to Holder by the Company. The Principal Amount will bear interest from the date
hereof until repaid, at an annualized rate of ten percent (10%) per annum (the “Interest”). This Note will be
payable on demand, in whole or in part at the election of the Holder on one or more occasions, with seven (7) days’
advance written notice from the Holder to the Maker (such date(s) the “Maturity Date(s)”). The Maker will
deliver the Principal Amount together with all interest thereon in accordance with the terms hereof (collectively, the
“Repayment Amount”) to the Holder in US dollars in immediately available funds, at the account notified to
Maker by the Holder.

 

SECTION 2. PRE-PAYMENT.

 

This Note may be pre-paid
in whole or in part prior to the Maturity Date, at the election of the Maker in its discretion. In such event, the effective date
of the pre-payment shall be deemed to be the Maturity Date for purposes of determining the Repayment Amount.

 

SECTION 3. DEFAULT PAYMENT.

 

Upon the occurrence of an
Event of Default (as defined in Section 4 hereof) after notice and opportunity for cure as provided in Section 15.1 hereof (“Event
of Default”), default interest (the “Default Interest”) will become due and payable on any unpaid
Repayment Amount (the “Default Principal”). The Default Interest will be assessed on a monthly basis at the
end of each month or partial month in which any Default Principal remains outstanding, and will be pro rated if the Default Principal
is repaid by the Maker during a month. Such such Default Interest will be payable in addition to the interest payable under Section
1 hereof, and will be equal to an annualized rate of three percent (3%) per annum, provided, however, that such Default Interest
will be subject to applicable law. Accrual of such Default Interest will commence upon the occurrence of an Event of Default and
will continue until such Event of Default is cured or waived.

 

     

     

    

 

SECTION 4. DEFAULTS.

 

4.1       Definitions.
Each occurrence of any of the following events will constitute an “Event of Default”:

 

(a)       if
a default occurs in the payment of any Repayment Amount, or other amounts due under this Note, whether at the due date thereof
or upon acceleration thereof, and such default remains uncured for fifteen (15) business days after written notice thereof from
Holder;

 

(b)       if
any representation or warranty of the Maker made herein will have been false or misleading in any material respect, or will have
contained any material omission, as of the date hereof;

 

(c)       if
a material default occurs in the due observance or performance on the part of the Maker of any covenant or agreement to be observed
or performed pursuant to the terms of this Note and such default remains uncured for ten (10) business days after written notice
thereof from Holder;

 

(d)       if
the Maker (i) discontinues its business, (ii) applies for or consent to the appointment of a receiver, trustee, custodian or liquidator
of Maker or any of its property, (iii) makes a general assignment for the benefit of creditors, or (iv) files a voluntary petition
in bankruptcy, or a petition or an answer seeking reorganization or an arrangement with creditors, or take advantage of any bankruptcy,
reorganization, insolvency, readjustment of debt, dissolution or liquidation laws or statutes, or file an answer admitting the
material allegations of a petition filed against it in any proceeding under any such law;

 

(e)       if
there is filed against Maker an involuntary petition seeking reorganization of Maker or the appointment of a receiver, trustee,
custodian or liquidator of Maker or a substantial part of its assets, or an involuntary petition under any bankruptcy, reorganization
or insolvency law of any jurisdiction, whether now or hereafter in effect (any of the foregoing petitions being hereinafter referred
to as an “Involuntary Petition”) and such Involuntary Petition will not have been dismissed within ninety (90)
days after it was filed;

 

4.2       Remedies
on Default.

 

(a)       Upon
each and every such Event of Default and at any time thereafter during the continuance of such Event of Default: (i) any and all
indebtedness and related amounts (including, without limitation, Default Payments) due from the Maker to the Holder under this
Note or otherwise will immediately become due and payable; and (ii) the Holder may exercise all the rights of a creditor under
applicable law.

 

(b)       In
the event that any one or more Events of Default will occur and be continuing, and acceleration of this Note or any other indebtedness
or obligation of the Maker to the Holder will have occurred, the Holder may, inter alia, proceed to protect and enforce
its rights by an action at law, suit in equity and/or other appropriate proceeding. No right conferred

     

     

    

upon the Holder by this Note will be exclusive of any
other right referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise.

 

 

SECTION 5.EXTENSION OF MATURITY.

 

In the
event that the Repayment Amount or any other amounts due under this Note become due and payable on other than a business day, the
due date thereof will be extended to the next succeeding business day in the United States. For purposes of the preceding sentence,
a business day will be any day that is not a Saturday or Sunday, or a legal holiday in the State of New York in the United States.

 

 

SECTION 6. ATTORNEYS’ FEES AND COLLECTION
COSTS.

 

In the
event that all or part of the indebtedness evidenced by this Note is collected at law or in equity, or in bankruptcy, receivership
or other court proceedings, arbitration or mediation, or any settlement of any of the foregoing, the Maker agrees to pay, in addition
to all amounts due and payable hereunder, all costs of collection incurred by the Holder in collecting or enforcing this Note,
including, without limitation, reasonable attorneys’ fees and expenses actually incurred.

 

 

SECTION 7. WAIVERS, DISPUTES, JURISDICTION.

 

7.1       Actions
of Holder not a Waiver. No delay by Holder in exercising any power or right hereunder will operate as a waiver of any power
or right, nor will any single or partial exercise of any power or right preclude other or further exercise thereof, or the exercise
of any other power or right hereunder or otherwise; and no waiver or modification of the terms hereof will be valid unless set
forth in writing by the Holder and then only to the extent set forth therein.

 

7.2       Consent
to Jurisdiction. The Parties hereby submit to the jurisdiction of the state or federal courts sitting in the State of Delaware
over any suit, action, or proceeding arising out of or relating to this Note or any other agreements or instruments with respect
to Holder. The parties hereby waive, to the fullest extent permitted by law, any objection that the parties may now or hereafter
have to the laying of venue of any such suit, action, or proceeding brought in any such court and any claim that any such suit,
action, or proceeding brought in any such court has been brought in an inconvenient forum. A final, non-appealable judgment in
any such suit, action, or proceeding brought in any such courts will be conclusive and binding upon the parties, and may be enforced
in any court in which the applicable party is subject to jurisdiction by a suit upon such judgment, provided that service of process
is effected upon the applicable party as provided in this Note or as otherwise permitted by applicable law.

 

7.3       Waiver
of Jury Trial. THE PARTIES WAIVE ANY RIGHTS THEY MAY HAVE TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF THIS
AGREEMENT OR ANY DEALINGS BETWEEN THE PARTIES RELATING TO THE SUBJECT MATTER OF THIS NOTE. THE SCOPE OF THIS WAIVER IS INTENDED
TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY

 

     

     

    

 

COURT AND THAT RELATE TO THE
SUBJECT MATTER OF THIS NOTE, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER WILL APPLY
TO ANY SUBSEQUENT AMENDMENTS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENT OR AGREEMENT RELATING TO
THE LOAN.

 

7.4       Service
of Process. The parties hereby consent to process being served in any suit, action, or proceeding instituted in connection
with this Note by delivery of a copy thereof by certified mail, postage prepaid, return receipt requested, and/or by delivery
of a copy thereof to a registered agent of the party.

 

 

SECTION 8. MAKER’S
REPRESENTATIONS AND WARRANTIES.

 

Except as disclosed in the Maker’s public filings
with the SEC, the Maker represents and warrants the following:

 

8.1       Organization,
Good Standing and Qualification. The Maker is a corporation duly organized, validly existing and in good standing under the
laws of the State of Delaware in the United States, and has all requisite corporate power and authority to carry on its business.
The Maker is duly qualified to transact business and is in good standing in each jurisdiction in which the failure so to qualify
would have a material adverse effect on its business, properties, operations, prospects or condition (financial or otherwise).

 

8.2       Authorization.
The execution, delivery and performance by the Maker of this Note have been duly authorized by all requisite action by Maker,
if any, in accordance with Delaware law. This Note is a valid and binding obligation of Maker, enforceable against Maker in accordance
with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other laws of general application
affecting enforcements of creditors’ rights or general principles of equity.

 

8.3       No
Conflicts. The execution, delivery, performance, issuance, sale and delivery of this Note and compliance with the provisions
hereof by Maker will not, to the knowledge of Maker, (a) violate any provision of any law, statute, rule or regulation applicable
to Maker or any order, judgment or decree of any court, arbitrator, administrative agency or other governmental body applicable
to Maker or any of its assets or (b) conflict with or result in any material breach of any of the terms or conditions of any agreement
or instrument to which Maker is a party, or give rise to any right of termination, cancellation or acceleration under any such
agreement or instrument, or result in the creation of any lien or other encumbrance upon any of the material assets of Maker.

 

 

SECTION 9. HOLDER’S REPRESENTATIONS AND
WARRANTIES

 

9.1       Accredited
Investor. Holder hereby represents and warrants that Holder has substantial experience in evaluating and investing in securities,
and is capable of evaluating the merits and risks of its loan to Maker under this Note and any investment in Conversion Shares,

 

     

     

    

 

and has the capacity to protect its own interests. Holder
is an “accredited investor” within the meaning of Regulation D under the Securities Act.

 

9.2       Investment
Purpose. This Note is being made for business and investment purposes.

 

 

SECTION 10.REPLACEMENT OF NOTE.

 

Upon receipt by Maker of reasonable
evidence of the loss, theft, destruction, or mutilation of this Note, Maker will deliver a new Note containing the same terms and
conditions in lieu of this Note. Any Note delivered in accordance with the provisions of this Section 14 will be dated as of the
date of this Note.

 

SECTION 11. MISCELLANEOUS.

 

11.1       Notices.
All notices, demands and requests of any kind to be delivered to any party in connection with this Note will be in writing and
will be deemed to be effective upon delivery if (i) personally delivered, (ii) sent by facsimile or email with confirmed delivery,
(iii) sent by nationally or internationally recognized overnight courier, or (iv) sent by registered or certified mail, return
receipt requested and postage prepaid to such address as the party to whom notice is to be given may have furnished to the other
parties hereto.

 

11.2       Parties
In Interest; Assignment. This Note will bind and inure to the benefit of Holder, Maker and their respective successors and
permitted assigns. Maker will not transfer or assign this Note without the prior written consent of Holder. Holder may transfer
and assign this note without the prior consent of Maker.

 

11.3       Severability.
If one or more provisions of this Note are held to be unenforceable under applicable law, then (i) such provision will be excluded
from this Note, (ii) the balance of the Note will be interpreted as if such provision were so excluded, (iii) the balance of the
Note will be enforceable in accordance with its terms, and (iv) the parties will negotiate in good faith to amend or add to the
provisions of this Note to effectuate as nearly as reasonably practicable, and as nearly as permitted under applicable law, the
original intent of the parties with respect to the provision excluded.

 

11.4       Amendments.
No provision of this Note may be amended or waived without the express written consent of both Maker and Holder, provided, however,
that Holder may waive any provision hereof that inures to the benefit of Holder without the prior written consent of Maker.

 

11.5       Governing
Law. This Note will be governed by and construed in accordance with the laws of the State of Delaware, other than any rules
relating to choice of law.

 

11.6       Counterparts.
This Note may be executed and delivered in any number of counterparts, each of which is an original and which, together, have
the same effect as if each party had signed the same document.

     

     

    

 

IN WITNESS WHEREOF,
Maker has caused this Note to be duly executed by its duly authorized person(s) as of the date first written above.

 

 

	
        NORTHWEST BIOTHERAPEUTICS, INC.

        (MAKER)

         

        By:                                                                           

         

        Name:

         

        Title:
	
        ______ (HOLDER)

         

         

        By:

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