Document:

Exhibit 10.3

 

EXECUTION COPY

 

AMENDED & RESTATED

EMPLOYMENT AGREEMENT

 

This Amended & Restated Employment Agreement
(“Agreement”) is between Blueprint Medicines Corporation, a Delaware corporation (the “Company”), and Christina
Rossi (the “Executive”) and is effective as of April 4, 2022 (the “Effective Date”).

 

WHEREAS, the Company and the Executive are parties
to the Employment Agreement dated as of October 29, 2018, as amended by a first amendment thereto dated as of December 22, 2021 (as amended,
the “Original Employment Agreement”);

 

WHEREAS, the Company and the Executive desire to
enter into this Agreement effective as of the Effective Date to replace the Original Employment Agreement, provided the Executive is employed
by the Company on the Effective Date; and

 

WHEREAS, the Company desires to employ the Executive
and the Executive desires to be employed by the Company on the terms and conditions contained herein.

 

NOW, THEREFORE, in consideration of the mutual
covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties agree as follows:

 

		1.	Employment.

 

(a)                    
Term. The term of this Agreement shall commence on the Effective Date and continue until terminated in accordance with the
provisions of Section 3 (the “Term”). Notwithstanding anything to the contrary in this Agreement, the Executive’s employment
with the Company will be “at will,” meaning that the Executive’s employment may be terminated by the Company or the
Executive at any time and for any reason, subject to the terms of this Agreement.

 

(b)                   
Position and Duties. Effective as of the Effective Date, the Executive shall resign as the Chief Commercial Officer and
shall serve as the Chief Operating Officer of the Company, and shall have such duties as are consistent with such position. The Executive
shall report to the Chief Executive Officer of the Company (the “CEO”) or another authorized executive. The Executive shall
devote her full working time and efforts to the business and affairs of the Company. Notwithstanding the foregoing, the Executive may
serve on other boards of directors, with the approval of the Board of Directors of the Company (the “Board”), or engage in
religious, charitable or other activities as long as such services and activities are approved by the Board and do not materially interfere
with the Executive’s performance of her duties to the Company as provided in this Agreement.

 

		2.	Compensation and Related Matters.

 

(a)                     Base
Salary. Effective as of the Effective Date, the Executive’s annual base salary shall be $581,510.00. The Executive’s
base salary shall be re-determined annually by the Board or the Compensation Committee of the Board (the “Compensation
Committee”) and shall be subject to increase but not decrease while Executive is serving in the Chief Operating Officer role.
The annual base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be
payable in a manner that is consistent with the Company’s usual payroll practices for senior executives.

 

     

     

    

 

(b)                   
[Reserved]

 

(c)                    
Equity. The Executive may be eligible to receive future equity awards under the Company’s 2015 Stock Option and Incentive
Plan (as amended and/or restated from time to time) or such other equity plan as then in effect, in the sole discretion of the Board or
the Compensation Committee of the Board.

 

(a)                    
Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as
determined by the Board or the Compensation Committee from time to time. Executive’s target annual incentive compensation shall
be 60% of her Base Salary (the “Target Incentive Compensation”). The Board or the Compensation Committee shall weigh its bonus
determination as follows: 75% on Company performance and 25% on Executive’s individual performance. To earn incentive compensation,
the Executive must be employed by the Company on the day such incentive compensation is paid. For the avoidance of doubt, notwithstanding
anything to the contrary herein:

 

(i)                
for the year that ended December 31, 2021, the Executive is eligible to receive incentive
compensation in connection with her services as Chief Commercial Officer of the Company during such year as determined by the Board or
the Compensation Committee based on the Executive’s target incentive compensation under the Original Employment Agreement as previously
determined by the Compensation Committee, provided the Executive remains employed by the Company on the day such incentive compensation
is paid; and

 

(ii)             
for the period beginning on January 1, 2022 and ending on April 3, 2022 (inclusive), the Executive
is eligible to earn prorated incentive compensation under the Original Employment Agreement in connection with her services as Chief Commercial
Officer of the Company during such period as determined by the Board or the Compensation Committee based on the Executive’s target
incentive compensation equal to 50% of her annual base salary as in effect during such period (and the Board or the Compensation
Committee shall weigh its bonus determination 75% on Company performance and 25% on the Executive’s
individual performance), provided the Executive remains employed by the Company on the day such incentive compensation is paid.

 

(d)                   
Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive
during the Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the
Company for its senior executive officers.

 

(e)                    
Other Benefits. During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s
employee benefit plans in effect from time to time, subject to the terms of such plans.

 

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(f)                     
 Vacations. During the Term, the Executive shall be entitled to paid vacation in accordance with the Company’s applicable
policy.

 

3.                 
Termination. During the Term, the Executive’s employment hereunder may be terminated without any breach of this Agreement
under the following circumstances:

 

(a)                    
Death. The Executive’s employment hereunder shall terminate upon her death.

 

(b)                   
Disability. The Company may terminate the Executive’s employment if she is disabled and unable to perform the essential
functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation for
a period of 180 days (which need not be consecutive) in any 12-month period. If any question shall arise as to whether during any period
the Executive is disabled so as to be unable to perform the essential functions of the Executive’s then-existing position or positions
with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification
in reasonable detail by a physician selected by the Company to whom the Executive or the Executive’s guardian has no reasonable
objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall
for the purposes of this Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician
in connection with such certification. If such question shall arise and the Executive shall fail to submit such certification, the Company’s
determination of such issue shall be binding on the Executive. Nothing in this Section 3(b) shall be construed to waive the Executive’s
rights, if any, under existing law including, without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C. §260l et
seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq.

 

(c)                    
Termination by Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes
of this Agreement, “Cause” shall mean: (i) conduct by the Executive constituting a material act of misconduct in connection
with the performance of her duties, including, without limitation, misappropriation of funds or property of the Company or any of its
subsidiaries or affiliates other than the occasional, customary and de minimis use of Company property for personal purposes; (ii) the
commission by the Executive of any felony or a misdemeanor involving moral turpitude, deceit, dishonesty or fraud, or any conduct by the
Executive that would reasonably be expected to result in material injury or reputational harm to the Company or any of its subsidiaries
and affiliates if she were retained in her position; (iii) continued non-performance by the Executive of her duties hereunder (other than
by reason of the Executive’s physical or mental illness, incapacity or disability) which has continued for more than 30 days following
written notice of such non-performance from the CEO; (iv) a material breach by the Executive of any of the provisions contained in Section
7 of this Agreement; (v) a material violation by the Executive of the Company’s written employment policies; or (vi) failure to
cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being instructed
by the Company to cooperate, or the willful destruction or failure to preserve documents or other materials known to be relevant to such
investigation or the inducement of others to fail to cooperate or to produce documents or other materials in connection with such investigation.

 

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(d)                   
 Termination by the Company Without Cause. The Company may terminate the Executive’s employment at any time without
Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination
for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed
a termination by the Company without Cause.

 

(e)                    
Termination by the Executive. The Executive may terminate her employment hereunder at any time for any reason, including
but not limited to Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has complied with
the “Good Reason Process” (hereinafter defined) following the occurrence of any of the following events without the Executive’s
express written consent: (i) a material diminution in the Executive’s responsibilities, authority or duties without the Executive’s
consent; (ii) a material diminution in the Executive’s Base Salary and/or Target Incentive Compensation without the Executive’s
consent (unless such diminution is in connection with a proportional reduction in compensation to all or substantially all of the Company’s
employees); (iii) a material change of more than 50 miles in the geographic location at which the Executive provides services to the Company;
or (iv) the material breach of this Agreement by the Company. “Good Reason Process” shall mean that (i) the Executive reasonably
determines in good faith that a “Good Reason” condition has occurred; (ii) the Executive notifies the Company in writing of
the first occurrence of the Good Reason condition within 60 days of the first occurrence of such condition; (iii) the Executive cooperates
in good faith with the Company’s efforts, for a period not less than 30 days following such notice (the “Cure Period “)
to remedy the condition; (iv) notwithstanding such efforts, the Good Reason condition continues to exist; and (v) the Executive terminates
her employment within 60 days after the end of the Cure Period . If the Company cures the Good Reason condition during the Cure Period,
Good Reason shall be deemed not to have occurred.

 

(f)                     
Notice of Termination. Except for termination as specified in Section 3(a), any termination of the Executive’s employment
by the Company or any such termination by the Executive shall be communicated by written Notice of Termination to the other party hereto.
For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination
provision in this Agreement relied upon.

 

(g)                   
Date of Termination. “Date of Termination” shall mean: (i) if the Executive’s employment is terminated
by her death, the date of her death; (ii) if the Executive’s employment is terminated on account of disability under Section 3(b)
or by the Company for Cause under Section 3(c), the date on which Notice of Termination is given; (iii) if the Executive’s employment
is terminated by the Company under Section 3(d), the date on which a Notice of Termination is given; (iv) if the Executive’s employment
is terminated by the Executive under Section 3(e) without Good Reason, 30 days after the date on which a Notice of Termination is given,
and (v) if the Executive’s employment is terminated by the Executive under Section 3(e) with Good Reason, the date on which a Notice
of Termination is given after the end of the Cure Period. Notwithstanding the foregoing, in the event that the Executive gives a Notice
of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such acceleration shall not result
in a termination by the Company for purposes of this Agreement.

 

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(h)                   
 Consent to Amended and Restated Employment Agreement. The Executive hereby gives her express written consent to this Agreement
which amends and restates the Original Employment Agreement. Accordingly, the Executive acknowledges and agrees that none of the terms
hereof shall serve as the basis of a “Good Reason” trigger as defined in this Agreement or the Original Employment Agreement,
and therefore the Executive shall not be eligible to resign for Good Reason as a result of any terms, or in connection with the negotiation,
execution and delivery, of this Agreement.

 

4.                 
Compensation Upon Termination.

 

(a)                    
Termination Generally. If the Executive’s employment with the Company is terminated for any reason, the Company shall
pay or provide to the Executive (or to her authorized representative or estate) (i) any Base Salary earned through the Date of Termination,
unpaid expense reimbursements (subject to, and in accordance with, Section 2(d) of this Agreement) and, if applicable, unused vacation
that accrued through the Date of Termination on or before the time required by law but in no event more than 30 days after the Executive’s
Date of Termination; and (ii) any vested benefits the Executive may have under any employee benefit plan of the Company through the Date
of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively,
the “Accrued Benefit”).

 

(b)                   
Termination by the Company Without Cause or by the Executive with Good Reason. During the Term, if the Executive’s
employment is terminated by the Company without Cause as provided in Section 3(d), or the Executive terminates her employment for Good
Reason as provided in Section 3(e), then the Company shall pay the Executive her Accrued Benefit. In addition, subject to (i) the Executive
signing a separation agreement containing, among other provisions, a general release of claims in favor of the Company and related persons
and entities, confidentiality, return of property and non-disparagement, and a noncompetition agreement with terms substantially similar
to the Restrictive Covenants Agreement (as defined below), and which shall provide that if the Executive
breaches any provision of the Restrictive Covenants Agreement or any other continuing obligations the Executive has to the Company, then
all payments of the Severance Amount shall immediately cease, such separation agreement to be in a form and manner satisfactory
to the Company (the “Separation Agreement and Release”) and (ii) the Separation Agreement and Release becoming irrevocable,
all within 60 days after the Date of Termination (or such shorter period as set forth in the Separation
Agreement and Release):

 

(i)                
the Company shall pay the Executive an amount equal to one (1) times the Executive’s Base Salary (the “Severance
Amount”), provided in the event the Executive is entitled to any payments pursuant to the Restrictive Covenants Agreement, the Severance
Amount will be reduced by the amount the Executive is paid pursuant to the Restrictive Covenants Agreement (the “Restrictive Covenants
Agreement Setoff”); and

 

(ii)              if
the Executive was participating in the Company’s group health (medical, dental and/or
vision) plan immediately prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to
the Executive a monthly cash payment for twelve (12) months or the Executive’s COBRA health continuation period, whichever
ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance
to the Executive if the Executive had remained employed by the Company.

 

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The amounts payable under this Section 4(b) shall be paid out in substantially
equal installments in accordance with the Company’s payroll practice over twelve (12) months commencing within 60 days after the
Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the
Severance Amount shall begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the
initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination.
Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section l.409A-2(b)(2).

 

5.                 
Sale Event Payment. The provisions of this Section 5 are intended to assure and encourage in advance the Executive’s
continued attention and dedication to her assigned duties and her objectivity during the pendency and after the occurrence of any Sale
Event (as defined below). These provisions shall apply in lieu of, and expressly supersede, the provisions of Section 4(b) regarding severance
pay and benefits upon a termination of employment, if the Date of Termination occurs within twelve (12) months after the occurrence of
the first event constituting a Sale Event. These provisions shall terminate and be of no further force or effect beginning twelve (12)
months after the occurrence of a Sale Event.

 

(a)              
Sale Event. During the Term, if within twelve (12) months after a Sale Event, the Executive’s employment is terminated
by the Company without Cause as provided in Section 3(d) or the Executive terminates employment for Good Reason as provided in Section
3(e), then, subject to the signing of the Separation Agreement and Release by the Executive and the Separation Agreement and Release becoming
irrevocable, all within 60 days after the Date of Termination (or such shorter period as set forth in the
Separation Agreement and Release):

 

(i)                
the Company shall pay the Executive a lump sum in cash in an amount equal to the sum of (A) one and one-half (1.5) times
the Executive’s current Base Salary (or the Executive’s Base Salary in effect immediately prior to the Sale Event, if higher)
plus (B) one and one-half (1.5) times the Executive’s Target Incentive Compensation ((A) and (B) together, the “Change in
Control Payment”), provided any Change in Control Payment shall be less the Restrictive Covenants Agreement Setoff, if applicable;
and

 

(ii)             
if the Executive was participating in the Company’s group health (medical, dental and/or vision) plan immediately
prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Executive a monthly cash payment
for eighteen (18) months or the Executive’s COBRA health continuation period, whichever ends earlier, in an amount equal to the
monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained
employed by the Company; and

 

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(iii)           
 all time-based stock options and other time-based stock-based awards held by the Executive shall accelerate and become
fully exercisable or non-forfeitable as of the Date of Termination; provided that, if any stock options or other stock-based awards held
by the Executive prior to the Effective Date have accelerated vesting terms that are more favorable to the Executive than those set forth
in this Section 5(a)(iii), the vesting terms of those stock options or other stock-based awards shall apply as opposed to the accelerated
vesting terms set forth in this Section 5(a)(iii) solely with respect to such awards.

 

The amounts payable under Section 5(a)(i) and (ii) shall
be paid or commence to be paid within 60 days after the Date of Termination; provided however, that if the 60-day period begins in one
calendar year and ends in a second calendar year, such payment shall be paid or commence to be paid in the second calendar year by the
last day of such 60-day period.

 

(b)              
Additional Limitation.

 

(i)               
Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution
by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of
this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Internal Revenue Code of 1986, as amended (the
 “Code”) and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax
imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of all of the Aggregate
Payments shall be $1.00 less than the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code;
provided that such reduction shall only occur if it would result in the Executive receiving a higher After Tax Amount (as defined below)
than the Executive would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall
be reduced in the following order, in each case, in reverse chronological order beginning with the Aggregate Payments that are to be paid
the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (1) cash payments not subject to
Section 409A of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash
forms of benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or payments that are not subject to calculation
under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under Treas.
Reg. §1.280G-1, Q&A-24(b) or (c).

 

(ii)             
For purposes of this Section 5(b), the “After Tax Amount” means the amount of the Aggregate Payments less all federal,
state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate
Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal
rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and
local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction
in federal income taxes which could be obtained from deduction of such state and local taxes.

 

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(iii)           
 The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 5(b)(i) shall be made
by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting
calculations both to the Company and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier
time as is reasonably requested by the Company or the Executive. Any determination by the Accounting Firm shall be binding upon the Company
and the Executive.

 

(c)                    
Sale Event Definition. For purposes of this Section 5, “Sale Event” shall mean (i) the sale of all or substantially
all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation
pursuant to which the holders of the Company’s outstanding voting power and outstanding stock immediately prior to such transaction
do not own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or successor entity
(or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the sale of all of the Stock of the Company
to an unrelated person, entity or group thereof acting in concert, or (iv) any other transaction in which the owners of the Company’s
outstanding voting power immediately prior to such transaction do not own at least a majority of the outstanding voting power of the Company
or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities directly
from the Company.

 

Notwithstanding the foregoing, a “Sale Event” shall not
be deemed to have occurred for purposes of the foregoing clauses (ii) and (iv) solely as the result of an acquisition of securities by
the Company which, by reducing the number of shares of voting securities outstanding, increases the proportionate number of voting securities
beneficially owned by any person to 50 percent or more of the combined voting power of all of the then outstanding voting securities;
provided, however, that if any person referred to in this sentence shall thereafter become the beneficial owner of any additional shares
of voting securities (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of
securities directly from the Company) and immediately thereafter beneficially owns 50 percent or more of the combined voting power of
all of the then outstanding voting securities, then a “Sale Event” shall be deemed to have occurred for purposes of the foregoing
clauses (ii) and (iv).

 

6.                 
Section 409A.

 

(a)                     Anything
in this Agreement to the contrary notwithstanding , if at the time of the Executive’s separation from service within the
meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the
meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive becomes entitled to
under this Agreement on account of the Executive’s separation from service would be considered deferred compensation otherwise
subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section
409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the
earlier of (A) six months and one day after the Executive’s separation from service, or (B) the Executive’s death. If
any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment
covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the
balance of the installments shall be payable in accordance with their original schedule.

 

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(b)                   
All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or
incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which
the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect
the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other
aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or
exchange for another benefit.

 

(c)                    
To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation”
under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment
, then such payments or benefits shall be payable only upon the Executive’s “separation from service.” The determination
of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation
Section 1.409A-l(h).

 

(d)                   
The parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner
so that all payments hereunder comply with Section 409A of the Code. Each payment pursuant to this Agreement is intended to constitute
a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The parties agree that this Agreement may be amended, as
reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and
regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party.

 

(e)                    
The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions
of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption
from, or the conditions of, such Section.

 

7.                 
Restrictive Covenants Agreement. The Executive hereby acknowledges and agrees that the terms of the Employee Confidentiality,
Assignment and Non-Competition Agreement between the Company and the Executive, dated as of September 27, 2018 (the “Restrictive
Covenants Agreement”), remain in full force and effect.

 

8.                  Arbitration
of Disputes. Any controversy or claim arising out of or relating to this Agreement or the breach thereof or otherwise arising
out of the Executive’s employment or the termination of that employment (including, without limitation, any claims of unlawful
employment discrimination whether based on age or otherwise) shall, to the fullest extent permitted by law, be settled by
arbitration in any forum and form agreed upon by the parties or, in the absence of such an agreement, under the auspices of the
American Arbitration Association (“AAA”) in Boston, Massachusetts in accordance with the Employment Dispute Resolution
Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event
that any person or entity other than the Executive or the Company may be a party with regard to any such controversy or claim, such
controversy or claim shall be submitted to arbitration subject to such other person or entity’s agreement. Judgment upon the
award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This Section 8 shall be specifically
enforceable. Notwithstanding the foregoing, this Section 8 shall not preclude either party from pursuing a court action for the sole
purpose of obtaining a temporary restraining order or a preliminary injunction in circumstances in which such relief is appropriate;
provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section 8.

 

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9.              
Consent to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce Section 8 of this
Agreement, the parties hereby consent to the jurisdiction of the Superior Court of the Commonwealth of Massachusetts and the United States
District Court for the District of Massachusetts. Accordingly, with respect to any such court action, the Executive (a) submits to the
personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute,
rule of court, or otherwise) with respect to personal jurisdiction or service of process.

 

10.             
Integration. Effective as of the Effective Date, this Agreement constitutes the entire
agreement between the parties with respect to the subject matter hereof and supersedes all other prior agreements, written or oral, between
the parties concerning such subject matter (including without limitation any offer letter, the Original Employment Agreement, or any severance
agreement); provided that (i) the Restrictive Covenants Agreement and (ii) any equity award agreements entered into by the Company and
the Executive prior to the date hereof, in each case, are expressly preserved.

 

11.             
Withholding. All payments made by the Company to the Executive under this Agreement shall be net of any tax or other amounts
required to be withheld by the Company under applicable law.

 

12.             
Successor to the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal
representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after
her termination of employment but prior to the completion by the Company of all payments due her under this Agreement, the Company shall
continue such payments to the Executive’s beneficiary designated in writing to the Company prior to her death (or to her estate,
if the Executive fails to make such designation).

 

13.              Enforceability.
If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this
Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this
Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal
or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to
the fullest extent permitted by law.

 

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14.             
Survival. The provisions of this Agreement shall survive the termination of this Agreement and/or the termination of the
Executive’s employment to the extent necessary to effectuate the terms contained herein.

 

15.             
Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The
failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach
of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

16.             
Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in
writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage
prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with the Company or, in the
case of the Company, at its main offices, attention of the Board.

 

17.             
Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly
authorized representative of the Company.

 

18.             
Governing Law. This is a Massachusetts contract and shall be construed under and be governed in all respects by the laws
of the Commonwealth of Massachusetts, without giving effect to the conflict of laws principles of such Commonwealth. With respect to any
disputes concerning federal law, such disputes shall be determined in accordance with the law as it would be interpreted and applied by
the United States Court of Appeals for the First Circuit.

 

19.             
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be taken to be an original, but such counterparts shall together constitute one and the same document.

 

20.             
Successor to Company. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation
or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement
to the same extent that the Company would be required to perform it if no succession had taken place. Failure of the Company to obtain
an assumption of this Agreement at or prior to the effectiveness of any succession shall be a material breach of this Agreement.

 

[Signature page follows]

 

    11 

     

    

 

IN WITNESS WHEREOF, the parties have executed this
Agreement effective as of the Effective Date.

 

	 	BLUEPRINT MEDICINES CORPORATION
	 	 
	 	By:	/s/ Jeffrey Albers
	 	Name:	Jeffrey Albers
	 	Title:	President and Chief Executive Officer
	 	Date:	January 4, 2022
	 	 
	 	EXECUTIVE
	 	 
	 	/s/ Christina Rossi
	 	Name:	Christina Rossi
	 	Date:	January 4, 2022

 

[Signature Page – Amended & Restated Employment Agreement]Document

EXHIBIT 10.1

EMPLOYMENT SEPARATION AGREEMENT

This Separation Agreement (the “Agreement”) is made and entered into as of 12/29/2021 by Castle Biosciences, Inc. (“Castle”), and Bernhard Spiess (the “Employee”).

WHEREAS, Employee was employed by Castle beginning on or about May 2, 2016 in an at-will employment arrangement;

WHEREAS, Employee signed an Employee Proprietary Information Agreement with Castle on or about March 16, 2016 (the “Confidentiality Agreement”); 

WHEREAS, Nextep, (“NEXTEP”) provided certain employee-management related services in connection with Employee’s employment by Castle and was also Employee’s co-employer; and

WHEREAS, Employee’s employment relationship terminated on December 31, 2021 (the “Termination Date”).

    NOW, THEREFORE, in consideration of the promises and mutual covenants herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, it is agreed as follows:

1.Accrued Salary. Castle will pay to Employee for work performed through the Termination Date in the amount of $16,666.67. Payment for work performed will be made by December 30, 2021, and subject to standard payroll withholdings and deductions. Employee will receive this payment regardless of whether or not Employee enters into this Agreement.

2.Health Coverage.  If Employee is currently participating in any of our group health insurance plans (the “Plans”), Employee’s coverage under those Plans will continue through December 31, 2021, at which time coverage will end. To the extent provided by the federal COBRA law and, if applicable state insurance laws (collectively “COBRA”) and the terms of the Plans, Employee will be eligible to continue Employee’s group health insurance benefits after December 31, 2021. Nextep will provide Employee with additional information regarding Employee’s rights and obligations under COBRA, as well as COBRA election forms.
3.Consideration. Although Castle has no obligation to do so, if Employee signs this Agreement, allows it become effective, and complies with the terms of this Agreement and Employee’s other continuing obligations owed to Castle (including but not limited to those continuing obligations in the Confidentiality Agreement) then Castle will pay Employee the following as Employee’s sole severance benefit (the “Severance Benefit”) as outlined below and subject to applicable standard payroll withholdings and deductions: 

a.PTO.  Castle will pay the equivalent of your earned and unused PTO of 378.49 hours in the amount of $ 72,783.74. 
b.2021 Bonus.  Within two weeks of the Board approval of the 2021 attainment of the corporate objective, you will be paid 50% of your 2021 salary multiplied by the Board approved corporate objective achievement percentage.
c.Master Services Agreement. As part of this Agreement, Castle agrees to enter into a consulting relationship with Employee, through his concluding company, pursuant to the terms and conditions of the Master Services Agreement (“MSA”), a copy of which is attached hereto as Exhibit A (the “Consulting Relationship”). As additional consideration for this Agreement and the Consulting Services, the Company will consider Employee’s uninterrupted change of status from an employee to a consultant (effective as of the Termination Date), and the Consulting 
Castle Separation Agreement    Confidential    Page 1 of 7

Services during the Consulting Period (as defined in the MSA), to cause Employee to continue as a “Service Provider” for purposes of the Castle Biosciences, Inc. 2008 Stock Plan  (the “2008 Plan”)2018 Equity Incentive Plan (the “2018 Plan”) and its 2019 Equity Incentive Plan (the “2019 Plan”), and therefore Employee’s outstanding equity awards will continue to vest and remain exercisable in accordance with their terms during the Consulting Period. Vest of such equity awards will cease at the termination of the Consulting Period and any rights to exercise or otherwise acquire any vested shares shall be governed and controlled by the Equity Plan and the applicable grant documents (the “Equity Documents”). All terms, conditions and limitations applicable to such equity awards will continue to be subject to the applicable Equity Documents. For the avoidance of doubt, if the parties do not enter into the Consulting Relationship, then Employee’s “Continuous Service” for purposes of such equity awards will terminate, and the vesting of such outstanding equity awards will cease, on the Termination Date.

4.No Further Compensation. Employee acknowledges that, except as expressly provided in this Agreement, Employee has not earned and will not receive any additional money, compensation or benefits of any kind from Castle (including but not limited to base salary, future wages or salary, bonus, retention payments, incentive compensation, commissions, damages, vesting or equity). Employee acknowledges that the payments set forth in this Agreement are due solely from Castle and that Nextep has no obligation to make any payments to Employee, even though the payments may be processed through Nextep.

5.Stock Options. Vesting of Employee’s outstanding stock options ceased on the Termination Date and all of Employee’s unvested shares terminated. As of the Termination Date, none of the shares subject to the option have vested. 

6.Release of All Claims.  In exchange for the consideration provided to Employee under this Agreement to which Employee would not otherwise be entitled, including but not limited to the Severance Benefit, Employee:

a.voluntarily, irrevocably and unconditionally releases and forever discharges, jointly, severally and individually each of Castle and Nextep and their respective parent companies, subsidiaries, affiliated entities, current and former employees, officers, directors, insurers, agents, shareholders, as applicable (collectively referred to as the “Released Parties”) from any and all liabilities, claims, demands, causes of action, charges, suits, debts, complaints, money, benefits, grievances, obligations, costs, losses, damages, injuries, attorneys’ fees, contracts, promises, agreements, and other legal responsibilities whatsoever (collectively referred to as “Claims”) regardless of whether such Claims are unaccrued, unknown, unforeseen, and/or unanticipated, in law or equity, that Employee or Employee’s heirs, executors, administrators, successors or assigns ever had, now have or hereafter can have against the Released Parties, including but not limited to, any and all matters arising out of Employee’s employment with, separation or termination from employment with Castle and Nextep; 

b.understands and agrees that this release of Claims includes, but is not limited to, any and all claims under any state, federal, and/or local statutory, constitutional, common law claim or tort cause of action, claims of wrongful termination, termination in violation of public policy, discrimination, harassment, constructive discharge, defamation, intentional or negligent infliction of emotional distress, retaliation, lost wages, breach of contract or implied contract, unjust enrichment, detrimental reliance, claims arising from or relating to Employee’s right to purchase, or actual purchase of, shares of stock of Castle, and/or claims for wages, bonuses, compensation, incentives, or benefits owed, as well as any alleged violation of  Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; Sections 1981 through 1988 of Title 42 of the United States Code, as amended; the Employee Retirement Income Security 
Castle Separation Agreement    Confidential    Page 2 of 7

Act of 1974, as amended; the Family and Medical Leave Act of 1993, as amended; the Immigration Reform and Control Act, as amended; the Pregnancy Discrimination Act, the Fair Labor Standards Act, as amended; the Equal Pay Act, as amended; the Age Discrimination in Employment Act, as amended; the Americans with Disabilities Act, as amended; the Occupational Safety and Health Act, as amended; the Sarbanes-Oxley Act of 2002, the Older Workers Benefit Protection Act, the Fair Credit Reporting Act, the National Labor Relations Act, as amended; the Equal Pay Act, as amended; the Age Discrimination in Employment Act, as amended; the Americans with Disabilities Act, as amended; the Occupational Safety and Health Act, as amended; the Sarbanes-Oxley Act of 2002, the Older Workers Benefit Protection Act, the Fair Credit Reporting Act, the National Labor Relations Act, the Texas Labor Code including the Texas Payday Act, the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, the Texas Whistleblower Act, and/or any other alleged violation of any federal, state or local law, regulation, order or ordinance dealing with employment, discrimination, retaliation or harassment in employment or any claim under any statute or at common law, including claims based on contract (express or implied) or public policy or tort;

c.understands that this is a full and complete release of all claims, demands, and causes of action raised or that could have been raised by Employee against Castle, including all actions, claims, and grievances known or unknown; and   

d.represents that Employee has no charges, complaints, lawsuits, proceedings, or claims of any kind pending against the Released Parties.  

7.Exceptions to the Release; Protected Rights. Castle and Employee understand and agree that the above release does not waive claims: (a) for worker’s compensation or unemployment compensation, (b) for vested rights under ERISA-covered employee benefit plans (e.g., 401(k) retirement plan), and (c) any rights Employee may have to continue Employee’s health insurance benefits under certain provisions of COBRA. In addition, Employee understands that nothing in this Agreement limits Employee’s ability to file a charge or complaint with the Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (the “Government Agencies”).  Employee further understands this Agreement does not limit Employee’s ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company.  While this Agreement does not limit Employee’s right to receive an award for information provided to the Securities and Exchange Commission, Employee understands and agrees that, to the maximum extent permitted by law, Employee is otherwise waiving any and all rights Employee may have to individual relief based on any claims that Employee has released and any rights Employee has waived by signing this Agreement.

8.Return of Confidential Information and Other Property.  Employee agrees and represents that, (a) Employee has returned all Castle property (including specifically the Castle-provided laptop and other assigned company property); (b) Employee has returned Castle all Confidential Information (as defined herein), property or assets, written, recorded or computer-readable information or materials (including copies thereof) (the “Confidential Materials”) regarding Castle (including, but not limited to, business practices, procedures, strategy, clients or personnel), equipment (including computer hardware or software and/or any memory storage devices), keys, credit cards and identification; (c) and warrants that Employee has not retained any copies of documents, records or materials of any kind, whether written or electronically created or stored, which contain, relate to or refer to any Confidential Materials; and (d) Employee has not disclosed and will not disclose any Confidential Information or Confidential Materials to any person or entity without the express 
Castle Separation Agreement    Confidential    Page 3 of 7

written authorization of an authorized officer of Castle. For this Agreement, “Confidential Information” includes, but is not limited to, this Agreement or the contents of this Agreement, research materials, algorithms, customer lists, databases, computer programs, and software designs, models, marketing programs and plans, sales, financial, training and technical information and plans, business methods, business policies, procedures, techniques, research, projects, trade secrets, pricing policies, financial records, or other financial, commercial, business or technical information relating to Castle. All records, files, drawings, documents, models, disks, equipment and the like relating to the business of Castle that Employee prepared or used or came in contact with during Employee’s employment by Castle will be and remain the sole property of Castle. 

9.Continuing Obligations. Employee acknowledges and agrees to abide by Employee’s continuing obligations to Castle under the Confidentiality Agreement, a copy of which is attached hereto as Exhibit B and incorporated herein by reference. 
10.No Admission of Liability. This Agreement, the Severance Benefits under this Agreement, and compliance with this Agreement shall not be construed as an admission by Castle of any liability whatsoever, or as an admission of any violation of the rights of Employee or any person, or violation of any order, law, statute, duty, or contract whatsoever against Employee or any person.  Castle specifically disclaims any liability to Employee or any other person for any alleged violation of the rights of Employee, or for any alleged violation of any order, law, statute, duty, or contract on the part of Castle, its current or former employees or agents or related companies or their employees or agents.
11.Confirmation. Subject to the exceptions stated in Section 7, Employee represents and warrants that Employee is not aware, to the best of Employee’s knowledge, of any conduct on Employee’s part or on the part of another Company employee that violated the law or otherwise exposed the Company to any liability, whether criminal or civil, whether to any government, individual or other entity, and that Employee is not aware of any material violations by the Company and/or its employees, officers, directors and agents of any statute, regulation or other rules that have not been addressed by Company through appropriate compliance and/or corrective action.  
12.Non-Disparagement.  Except as may be required by law or legal process and as set forth in Section 7, Employee agrees that Employee shall not:
a.engage in any act or make any communication (written or verbal by mechanical or electronic means) that is intended, or may reasonably be expected, to harm Castle’s reputation, business prospects, or business operations, otherwise interfere or harm the reputation of Castle’s referral physicians, customers, employees, officers or directors;
b.communicate with any person (written or verbal by mechanical or electronic means including specifically any current or former Castle employee, patient or physician) concerning specifically the terms of this Agreement, the actions or omissions of any Castle employee, officer or director; provided however that Employee may communicate with any person concerning any personal or business issue unrelated to Castle;
c.and provided further that Castle will instruct its officers and directors not to engage in any act or make any communication (written or verbal by mechanical or electronic means) that is intended, or may reasonably be expected, to harm Employee’s reputation.
13.Employment Inquiries. Should Castle receive any inquiry concerning the employment by Castle of Employee, then Castle will provide solely a standard, neutral response to employment inquiries providing only confirmation of prior employment, with dates of employment, last position held and base salary, if requested.
Castle Separation Agreement    Confidential    Page 4 of 7

14.Representations.  Employee hereby represents that Employee has been paid all compensation owed and for all time worked, Employee has received all the leave and leave benefits and protections for which Employee is eligible pursuant to applicable laws or Castle’s or Nextep’s policies, and Employee has not suffered any on-the-job injury or illness for which Employee has not already filed a workers’ compensation claim. 
15.Miscellaneous.

a.Entire Agreement and Modification.  This Agreement (together with the Confidentiality Agreement) sets forth the entire agreement between the parties with respect to the termination of Employee’s employment and fully supersedes any and all prior plans, policies, agreements, contracts, arrangements or understandings between the parties, oral or written, or which have covered Employee during her period of employment with Castle. The parties further agree that this Agreement (together with the Confidentiality Agreement) may not be modified, altered or changed except by a written agreement signed by the parties.  This Agreement (together with the Confidentiality Agreement) shall be binding upon and inure to the benefit of the parties, their respective heirs, successors, affiliates, corporate parents, subsidiaries, agents, representatives, assigns, executors, administrators, insurers, consultants, contractors, and employees.

b.Severability.  Should any provision of this Agreement be held to be illegal, void, voidable, unlawful or, for any reason, unenforceable by a court of competent jurisdiction, such provision shall be of no force and effect. However, the illegality or unenforceability of any such provision shall have no effect upon, and shall not impair the enforceability of, any other provision of this Agreement and the remaining portion(s) of this Agreement shall remain in full force and effect and, to that end, the provisions of this Agreement are declared to be severable.

c.Governing Law.  Each of the parties to this Agreement (a) consents to the exclusive jurisdiction and venue of the Courts of the State of Texas in any and all actions between or among any of the parties and (b) consents to service of process by first-class certified mail, return receipt requested, postage prepaid. This Agreement and any issues arising from it or regarding its provisions shall be governed and construed under the procedural and substantive laws of the State of Texas without reference to the choice of law rules of the State of Texas. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable laws.

d.Execution in Counterparts.  This Agreement may be executed in counterparts, and when each party has signed and delivered at least one such counterpart, each counterpart shall be deemed an original, and, when taken together with other signed counterpart, shall constitute one Agreement, which shall be binding upon both parties. The exchange of signed copies of this Agreement by facsimile or via electronic (PDF file) format by email will constitute effective execution and delivery of this Agreement and may be used in the lieu of the original Agreement for all purposes.
e.Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties, their respective heirs, successors, affiliates, corporate parents, subsidiaries, agents, representatives, assigns, executors, administrators, insurers, consultants, contractors, and employees.
16.Review.  Employee acknowledges that Employee is knowingly and voluntarily waiving and releasing rights Employee may have, including those under the Age Discrimination in Employment 
Castle Separation Agreement    Confidential    Page 5 of 7

Act (ADEA) and the Older Workers Benefit Protection Act (OWBPA). Employee further acknowledges and understands that Employee has been advised by written means that:
a.Employee should, and has been provided an opportunity to, consult an attorney before signing this Agreement;
b.Employee has twenty-one (21) calendar days to consider whether Employee wishes to sign this Agreement (and provide the release contained herein); 
c.Subsequent modifications to this Agreement do not reset the 21-day consideration period; and
d.By signing this Agreement, Employee does not waive rights or claims that may arise after the later of the Effective Date or the date that this Agreement is revoked.

17.Revocation; Effective Date. Employee further acknowledges and understands that:
a.Even after Employee signs this Agreement, Employee has seven (7) calendar days to revoke this Agreement;
b.If Employee decides to revoke this Agreement then Employee should immediately notify Castle in writing (by delivery of such written revocation to Castle Biosciences, 3737 N. 7th Street, Suite #160, Phoenix, AZ 85014, ATTN: Human Resources Department) of Employee’s decision to revoke this Agreement; and
c.This Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth calendar day after the date that this Agreement is signed by Employee provided that Employee does not revoke it (the “Effective Date”).  

18.Section 409A exception.  The Parties intend that the payment set forth in this Agreement will comply with the separation pay exception set forth in Treas.Reg. Section 1.409A-1(b)(9)(iii) and any successor provision, and is therefore, not subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended.
 
19.No Sexual Harassment/Abuse Allegations.  Employee confirms that she/he is not aware of any facts or circumstances that would give rise to a sexual harassment or sexual abuse claim by Employee against the Company, and that the payment to be made to Employee under this Agreement is not a settlement or payment related to a sexual harassment or sexual abuse claim. 

20.Knowing and Voluntary.  Employee acknowledges that the consideration recited in this Agreement is adequate to make it final and binding, and is in addition to payments or benefits to which Employee would otherwise be entitled.  Castle and Employee agree that the covenants and/or provisions of this Agreement may not be modified by any subsequent agreement unless the modifying agreement is in writing and is signed by both parties.  EMPLOYEE FURTHER STATES THAT EMPLOYEE HAS CAREFULLY READ THE FOREGOING AGREEMENT, THAT EMPLOYEE KNOWS AND UNDERSTANDS THE CONTENTS THEREOF, THAT EMPLOYEE EXECUTES THE SAME AS EMPLOYEE’S OWN FREE ACT AND DEED, AND THAT EMPLOYEE EXECUTES THIS SEPARATION KNOWINGLY AND VOLUNTARILY.

[Signature Pages to Follow – The Remainder of this page intentionally left blank.]

Castle Separation Agreement    Confidential    Page 6 of 7

THE UNDERSIGNED HAVE READ THIS AGREEMENT AND FULLY UNDERSTAND THAT IT IS A LEGALLY BINDING DOCUMENT, WHICH CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS, AND VOLUNTARILY AGREE TO THE TERMS OF THIS AGREEMENT.

						
	EMPLOYEE:
	BERNHARD SPIESS
		
	By:	/s/ Bernhard Spiess
	Printed Name: 	Bernhard Spiess
		
		
	EMPLOYER:
	CASTLE BIOSCIENCES, INC.
		
	By:	/s/ Derek Maetzold
	Printed Name:	Derek Maetzold
	Title:	President and CEO

Exhibit A – Master Service 

Exhibit B - EPIA, Termination Certificate
Castle Separation Agreement    Confidential    Page 7 of 7

Exhibit A
MASTER SERVICE AGREEMENT

Exhibit B
EPIA, TERMINATION CERTIFICATE

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