Document:

Exhibit 10.27

 

[DATE]

 

[NAME]

 

[ADDRESS]

 

 

 

 

Dear [NAME],

 

Appointment as Non-Executive Director

 

 

 

Appointment

 

Following our recent discussions, I am
pleased to confirm my invitation to you to join the board of directors (the “Board”) of Patheon N.V. (the “Company”)
as a Non-Executive Director. In addition to your acceptance and acknowledgment of this appointment letter, please complete and
return the attached Directors’ and Officers’ Questionnaire (the “D&O Questionnaire”) in accordance
with the accompanying instructions and the attached Consent of Director Nominee.

 

In completing the D&O Questionnaire,
you consent to serve as a director of the Company and you consent to the Company’s use of the information in the D&O
Questionnaire in the Company’s filings with the Securities and Exchange Commission, the New York Stock Exchange, The NASDAQ
Stock Market LLC, state governments and other regulatory authorities.

 

You agree to perform your responsibilities
as a director in good faith and in accordance with applicable law, the organizational documents of the Company and other policies
and procedures applicable to such services. The Company’s Board will appoint you as a Non-Executive Director effective as
of pricing of the Company’s upcoming initial public offering (the “Effective Date”). The continuation of your
appointment is contingent on re-election at forthcoming annual stockholders’ meetings.

 

You will not be employed by the Company
and will be free to pursue your other interests. We ask that you please disclose these interests to our General Counsel so that
the Company can identify any appearance of conflict arising from our activities that may in the future intersect with yours. In
addition, we ask that you comply with any other requirements related to service on other boards of directors that may be included
in our organizational documents or Corporate Governance Guidelines. We expect that you will be considered to be an independent
Non-Executive Director and will be identified as such in the annual report and other documentation. If circumstances change, and
you believe that your independence may be in doubt, please discuss this with our General Counsel.

 

    	 

    	 

    

 

Confidentiality

 

In your role as Non-Executive Director,
you will have access to confidential information about the Company and its clients and you agree to apply the highest standards
of confidentiality and, except in the proper performance of your services, not to use or disclose to any person confidential information
during your appointment or thereafter. In addition, you agree to comply with those provisions of the Company’s Code of Business
Conduct and other policies applicable to Non-Executive Directors.

 

On termination of your appointment, you
will deliver to the Company all books, documents, papers and other property of or relating to the business of the Company which
are in your possession, custody or power by virtue of your position as a Non-Executive Director of the Company.

 

Committees

 

The Board may appoint you to serve on one
or more committees of the Board. Compensation associated with committee service is addressed in the Remuneration section of this
appointment letter.

 

Remuneration

 

The Company’s Non-Executive Director
compensation program is described generally below. The Board or the applicable committee reserves the right to adjust the remuneration
of directors from time to time.

 

In consideration of your services and in
accordance with the Company’s compensation arrangements for Non-Executive Directors, you will receive annual compensation
of $250,000 comprised of (A) restricted stock units (“RSUs”) with a grant date fair market value of $165,000 in accordance
with the terms and conditions set forth in the Company’s omnibus incentive plan and applicable award agreement and (B) $85,000
in cash, which you may elect to receive in fully vested deferred stock units in accordance with the Company’s election procedures.
Subject to the applicable award terms, the RSUs you receive in connection with your retainer will vest on the first anniversary
of the applicable date of grant.

 

For each year of your service on the Audit
Committee, you shall receive an additional annual amount of $10,000 (or $25,000 for serving as its chair). [For each year of your
service on the Compensation Committee, you shall receive an additional annual amount of $7,500 (or $15,000 for serving as its chair).]
For each year of your service on a Committee (other than the Audit Committee or Compensation Committee), you shall receive an additional
annual amount of $6,000 (or $12,000 for serving on such committee as its chair).

 

Stock Ownership Requirement

 

As a Non-Executive Director, you will be
subject to the Company’s stock ownership guidelines. In general, this means that you will be expected to hold equity shares
with a value equal to five (5) times your annual cash retainer within three (3) years of your initial election to the Board. The
Board or the applicable committee reserves the right to adjust the stock ownership guidelines from time to time.

 

    	 

    	 

    

 

Expenses

 

The Company will reimburse you for reasonable
and properly documented expenses incurred in performing your duties and in accordance with applicable reimbursement policies.

 

We look forward to your participation on
the Board of Patheon N.V.

 

	Sincerely,	 	 
	 	 	 
	 	 	 
	ACCEPTED AND ACKNOWLEDGED BY:	 	 
	 	 	 
	 	 	 
	 	 	 
	[NAME]	 	DateExhibit 10.1

 

VENAXIS, INC.

AMENDMENT TO AMENDED AND RESTATED 2002 STOCK INCENTIVE PLAN,

 AS AMENDED

EFFECTIVE SEPTEMBER 1, 2015

This Amendment No. 8, dated and effective September 1, 2015 (the "Amendment") is an amendment to the 2002 Stock Incentive Plan, as amended and restated on June 1, 2007, as amended (the "Plan"), of Venaxis, Inc., formerly known as AspenBio Pharma, Inc., a Colorado corporation (the "Company").  All capitalized terms used in this Amendment without definition have the meanings set forth in the Plan.

WHEREAS, Section 20(a) of the Plan authorizes the Board of Directors of the Company to make amendments to the Plan, subject to shareholder approval as required by law or agreement.

WHEREAS, on June 1, 2015, the Board approved an amendment to the Plan to increase the number of shares available for awards under the Plan from by 2,000,000 shares from 3,673,127 to 5,673,127 shares, and submitted the amendment to the Company's shareholders for approval at the annual meeting of shareholders held on September 1, 2015.

WHEREAS, on September 1, 2015, the shareholders approved the foregoing amendment to the Plan.

NOW, THEREFORE, intending to be legally bound, and in accordance with the approvals set forth in the WHEREAS clauses, which are incorporated by reference into this Amendment, the Company amends the Plan as follows:

1.            Section 4 of the Plan is deleted in its entirety and is replaced by the following:

"4.            The Common Stock. The Board is authorized to appropriate, issue and sell for the purposes of the Plan, and the Option Committee is authorized to grant Options and Rights to Purchase with respect to, a total number, not in excess of 5,673,127 shares of Common Stock, either treasury or authorized but unissued or the number and kind of shares of stock or other securities which in accordance with Section 16 of this Plan shall be substituted for the 5,673,127 shares or into which such 5,673,127 shares shall be adjusted. All or any unsold shares subject to an Option or Right to Purchase that for any reason expires or otherwise terminates may again be made subject to Options or Rights to Purchase under the Plan. No person may be granted Options or Rights to Purchase under this Plan covering in excess of an aggregate of 500,000 Option Shares and shares of Restricted Stock in any calendar year, subject to adjustments in connection with Section 16 of this Plan."

2.            Except as amended by this Amendment, the Plan continues in full force and effect.

3.            In the event of a conflict between this Amendment and the Plan, this Amendment shall govern.NEITHER
THIS NOR ANY SECURITIES THAT MAY BE ISSUED UPON THE CONVERSION HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE “ACT”), STATE SECURITIES LAWS, OR LAWS OF ANY FOREIGN JURISDICTION. THIS NOTE AND SUCH SECURITIES HAVE
BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE. NEITHER THIS NOTE NOR ANY SUCH SECURITIES MAY BE SOLD,
ASSIGNED, OFFERED, PLEDGED, OR OTHERWISE TRANSFERRED IN THE ABSENCE OF EITHER (1) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
ACT AND STATE SECURITIES LAWS OR (II) THE COMPANY RECEIVING AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY STATING THAT SUCH
SALE, ASSIGNMENT, OFFER, PLEDGE, OR OTHER TRANSFER IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE
ACT AND STATE SECURITIES LAWS.

 

THE
SECURITIES REPRESENTED HEREBY AND ISSUABLE HEREUNDER MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, ENCUMBERED OR IN ANY MANNER DISPOSED
OF, EXCEPT IN COMPLIANCE WITH THE TERMS HEREOF AND THE SHAREHOLDER AGREEMENT BETWEEN THE COMPANY AND ITS SHAREHOLDERS. THE SECRETARY
OF THE COMPANY WILL UPON WRITTEN REQUEST FURNISH A COPY OF THE SHAREH0LDER AGREEMENT TO THE HOLDER HEREOF WITHOUT CHARGE.

 

BOXLIGHT
CORPORATION

CONVERTIBLE
PROMISSORY NOTE

 

	$45,000.00	August 19, 2015

 

Subject
to the terms contained herein, Boxlight Corporation, a Nevada corporation (the “Company”), for value received, promises
to pay to the order of James W. Lofgren (the “Investor), the amount stated above (the “Principal Amount”) plus
interest thereon calculated from the date hereof until paid in full at the annual rate of thirteen percent (13%), compounded monthly,
along with a $15,000 documentation fee. The parties shall calculate the interest based on a 365-day year. The Company shall pay
the unpaid Principal Amount and interest accrued hereunder in lawful money of the United States in full on demand on or after
the earlier of an Event of Default or the Maturity Date, unless it has been previously converted pursuant to Section 2 hereof,
in which case all outstanding principal, accrued interest and documentation fee under this Note will be satisfied in full by virtue
of such conversion. Upon an Event of Default, the interest rate will increase to the annual rate of twenty-two percent (22%),
compounded monthly.

 

The
following is a statement of the rights of the Investor and the conditions to which this Note is subject, and to which the Investor,
by the acceptance of this Note, agrees:

 

	1.	Definitions.
                                         As used in this Note, the following capitalized terms have the corresponding meanings:

                                         

		1.1.	“Conversion
                                         Price” means the lesser of (i) $1.00 per share, (ii) a discount of 20% to the stock
                                         price if the Company is publicly traded, or (iii) if applicable, such other amount negotiated
                                         by the Company. In the event of a voluntary conversion pursuant to Section 2.1, (i) if
                                         the number of shares of Common Stock outstanding at any time after the date hereof, and
                                         before payment or conversion in full, is increased by a distribution payable in shares
                                         of Common Stock or by a subdivision or split-up of shares of Common Stock, then, on the
                                         date such payment is made or such change is effective, the Conversion Price then in effect
                                         will be proportionately decreased; and (ii) if the number of shares of Common Stock outstanding
                                         at any time after the date hereof, and before payment or conversion in full, is decreased
                                         by a combination of the outstanding shares of Common Stock, then, on the effective date
                                         of such combination, the Conversion Pricewill be proportionately increased.

 

     

     

    

		1.2.	“Conversion
                                         Securities” means a voluntary conversion is made pursuant to Section 2.1.

 

		1.3.	“Maturity
                                         Date” means September 30, 2015.

                                         

		2.	Conversion.

 

		2.1.	Voluntary
                                         Conversion. Before this Note is paid in full or converted, the Investor may convert
                                         all but not less than all the outstanding principal, interest and documentation fee due
                                         under the Note into Conversion Securities at the Conversion Price. The Company shall
                                         issue to the Investor his respective pro rata number of shares of Conversion Securities
                                         based on the outstanding principal and interest under their respective Note at the time
                                         of the conversion.

 

		2.2.	No
                                         Fractional Shares. The Company shall not issue any fractional shares on conversion
                                         of this Note. If on any conversion of this Note a fraction of a share results, the Company
                                         shall pay the investor the cash value of that fractional share, calculated on the basis
                                         of the Conversion Price.

 

		2.3.	No
                                         Rights as Shareholder. This Note does not by itself entitle the Investor to any voting
                                         rights or other rights as a shareholder of the Company. In the absence of conversion
                                         of this Note, no provisions of this Note and no enumeration herein of the rights or privileges
                                         of the Investor will cause such Investor to be a shareholder of the Company or for any
                                         purpose solely by virtue hereof.

 

		3.	No
                                         Collateral. The obligations under this Note are unsecured.

 

		4.	Events
                                         of Default. “Event of Default” includes any of the following:

 

		4.1.	The
                                         failure of the Company to pay when due any amounts due hereunder that remain unpaid 30
                                         days after the Company receives written notice thereof;

 

		4.2.	The
                                         Company’s breach of a representation or obligation, which breach remains uncured
                                         30 days after written notice thereof; or

 

		4.3.	The
                                         Company will have entered against it by a court having jurisdiction thereof a decree
                                         or order for relief in respect to the Company in an involuntary case under any applicable
                                         bankruptcy, insolvency or other similar law, or a receiver, liquidator, assignee, custodian,
                                         trustee, sequestrator or other similar official will have been appointed for the company
                                         or for any substantial part of the Company’s property, or the winding up or liquidation
                                         of the Company’s affairs will have been ordered; or the Company will have commenced
                                         a voluntary case under any applicable bankruptcy, insolvency or other similar law, or
                                         consent to the entry of an order for such relief in an involuntary case under any such
                                         law, or any such involuntary case will have commenced, and not been dismissed with 60
                                         days, or the Company will have consented to the appointment of or taking possession by
                                         a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official
                                         for the Company or for any substantial part of the Company’s property, or make
                                         any general assignment for the benefit of creditors.

                                         

     

     

    

 

		5.	General
                                         Provisions.

 

		5.1.	Amendments
                                         and Waivers. Any amendment to this Note must be in writing and identified as an amendment
                                         to this Note. Any amendment to this Note requires the consent of the Company. Any waiver
                                         of a right by the Company requires the written consent of the Company, and any waiver
                                         of a right by the Investor requires the written consent of the Investor. Any amendment
                                         or waiver effected in accordance with this section is binding on all parties hereto which
                                         the subject matter of the amendment or waiver applies, regardless of whether any such
                                         party has consented thereto.

                                         

		5.2.	Severability.
                                         If any provision of this Note is held to be invalid, illegal, or unenforceable, the validity,
                                         legality and enforceability of the remaining provisions of this Note will not be affected
                                         or impaired.

                                         

		5.3.	Headings.
                                         The descriptive headings of the articles, sections, and subsections of this Note are
                                         for convenience of reference only. They do not constitute a part of this Note and do
                                         not affect this Note’s construction or interpretation.

                                         

		6.	Governing
                                         Law. The laws of the State of Georgia govern all matters arising out of or relating
                                         to this Note, including, without limitation, its interpretation, construction, performance,
                                         and enforcement, without giving effect to such State’s conflicts of law principles
                                         or rules of construction concerning the drafter hereof.

 

     

     

    

 

The
foregoing Note is hereby confirmed and accepted by the Investor as of August 19, 2015.

 

	 	INVESTOR:
	 	 
	 	JAMES
    W. LOFGREN
	 	 
	 	/s/
    JAMES W. LOFGREN

 

     

     

    

 

The
parties are signing and delivering this Note as of the date stated in the caption of this Note.

 

	 	COMPANY:
	 	 
	 	BOXLIGHT
    CORPORATION
	 	 	 
	 	By:	/s/
    MICHAEL POPE 
	 	Name:	MICHAEL POPE
	 	Title:	PRESIDENT

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