Document:

Employment Agreement

 Exhibit 10.1 
 

 
 August 10, 2005 
 Dear Dan: 
 In recognition
of the important contributions you have made, and we expect you will continue to make to the success of Charlotte Russe Holding, Inc. and its subsidiaries (the “Company”), I am pleased to formalize in writing our commitment to you
concerning the terms of your employment as the Executive Vice President, Chief Financial Officer. When signed by you, this agreement shall supersede and be in place of any prior agreements or understandings between us and shall be the sole and
exclusive agreement between us pertaining to your employment with the Company. 
 Duties. You will perform and discharge your duties and
responsibilities faithfully, diligently and to the best of your ability. You will devote substantially all of your working time and efforts to the business and affairs of the Company. 
 Base Salary. Your base salary will continue to be paid at the rate of $318,000.00 gross per year; paid on a bi-weekly basis. Annually throughout your employment, your performance and salary
will be reviewed. All payments under this paragraph or any other paragraph of this agreement will be made in accordance with the regular payroll practices of the Company, reduced by applicable federal and state withholdings. 
 Performance Bonus. You will be eligible for an annual bonus, as determined by the Board of Directors in its sole discretion,
based upon your achievement and the Company’s achievement of annual performance goals established by the Board of Directors. All decisions by the Board of Directors pertaining to bonus eligibility and/or achievement are final. 
 Benefits. You will receive a paid vacation per year (according to the Company’s stated vacation policy), to be taken at such times as
you and Company mutually agree upon. You will be eligible to participate in all benefit and welfare plans made generally available to senior management executives of the Company, as in effect from time to time, subject to Company’s right to
modify or terminate such plans or benefits at any time with respect to employees of similar rank and title. 
 Termination of Employment and
Severance. You understand and agree that this agreement is not meant to constitute a contract of employment for a specific term, and consequently your employment will be “at-will”. What this means is that either you or the
Company may terminate your employment at any time, without notice and with or without “Cause” (as defined herein). If the Company terminates your employment for Cause, or you terminate your employment, the Company’s only obligation to
you under this Agreement will be to continue to pay your base salary through the date of termination and pay to you any unused earned vacation as of the last date of your employment. If, however, the Company terminates your employment for any reason
other than for Cause, including your death, disability, or “Change of Control”, the Company will continue to pay your base salary for a period of 12 months following such termination (and will make these payments to your beneficiary in the
event of death). There are certain conditions that must be met in order for you to receive any severance payment under this agreement. First, you must sign a general release agreement in favor of the Company. Second, you must abide by all terms of
this agreement. The Company shall have the right to cease making any severance payment under this agreement in the event you breach any provision of it. Third, any severance payment(s) made to you under this Agreement shall be offset by the amount
of any interim earnings you may have and, will cease altogether when you obtain a new position which pays you compensation equal to or higher than your rate of compensation as of the last date of your employment with the Company. 
  

 Dan Carter Employment Agreement pg. 1 

 You will not be entitled to any fringe benefits following termination of employment, except as specifically provided in
writing in the applicable benefit plan or policy. 
 For purposes of this agreement, “Cause” means (i) willful breach of duty, gross neglect
of duty, gross carelessness or gross misconduct in the performance of your duties; (ii) commission of a felony or other crime involving moral turpitude; (iii) commission of any act of dishonesty involving the Company; (iv) the
unauthorized disclosure of material privileged or confidential information related to the Company or its employees, except as may be compelled by legal process or court order; (v) the commission of a willful act or omission which violates
material Company policy, procedures, or otherwise constitutes unethical or detrimental business conduct; (vi) alcohol or controlled substance abuse that materially impacts the performance of your duties; or (vii) any other willful act or
omission which, in the opinion of the Board of Directors of the Company has, or is reasonably likely to have, a material adverse impact upon the Company or its reputation; provided, however, that with respect to the first occurrence of
any of the acts specified in clauses (i), (v), (vi) and (vii) above, you will have an opportunity to cure such act, violation or condition after receiving written notice from the Company. The amount of time to cure such act, violation or
condition shall be in the sole discretion of the Company. 
 For purposes of this agreement, “Change of Control” means the merger or consolidation
of the Company with or into, or the sale of all or substantially all the assets of the Company to, another entity or group of entities where at least 50% of the combined voting power of the continuing, surviving or acquiring entity’s
outstanding securities immediately after such merger, consolidation, or acquisition is owned by persons who were not shareholders of the Company immediately prior to such merger, consolidation or other reorganization, or (ii) the acquisition,
directly or indirectly, of capital stock representing more than 50% of the voting power of the then outstanding shares of the Company’s capital stock by any person or persons acting as a group; provided, however, that a Change of
Control shall not include any merger or consolidation with or into, any sale of assets to, or any acquisition of capital stock by funds advised by Saunders Karp & Megrue, L.P., its successors, or any entity controlled by such funds.

 Restricted Activities. During the term of your employment with the Company, you will not, directly or indirectly, be connected
as an officer, employee, Board member, consultant, advisor, owner or otherwise (whether or not for compensation) with any business which competes with any business of the Company or its subsidiaries in any area where such business is then being
conducted or actively planned by the Company or a subsidiary. During the term of your employment with the Company, and for a period of two years thereafter, you will not, and you will not assist any other person or entity to, hire or solicit the
employment of any employees of the Company or any of its subsidiaries (or any person who in the prior six months was such an employee) or otherwise seek to induce any such employee to terminate his or her employment with the Company or any of its
subsidiaries. Other than in connection with the performance of your duties for the Company, you will not disclose to any person or entity any information obtained by you while in the employ of the Company, the disclosure of which may be adverse to
the interests of the Company, or use any such information to the detriment of the Company. You understand that your commitments in this paragraph are in exchange for the Company’s commitments to you in this letter, and that the restrictions
contained in the preceding two sentences apply after your employment terminates, regardless of the reason for such termination. 
 Miscellaneous. The headings in this agreement are for convenience only and do not affect the meaning hereof. This letter constitutes the entire agreement between the Company and you, and supersedes any prior
communications, agreements and understandings, whether written or oral, with respect to your employment and compensation and all matters pertaining thereto. This agreement shall be governed by and construed in accordance with the law of the State of
California. Should any action or proceeding be brought to construe or enforce the terms and conditions of this agreement, the losing party will pay to the prevailing party all court costs and reasonable attorneys’ fees and costs incurred in
such action or proceeding. 
 Disputes. Any dispute between the Company and you concerning the meaning or interpretation of this
Agreement, or any alleged breach thereof, shall be resolved in a binding arbitration to be conducted in San Diego, California, before a single neutral arbitrator to be selected by the parties from a list of arbitrators on the Employment Dispute
Panel of the Judicial Arbitration and Mediation Service (“JAMS”). Arbitration shall be initiated by the party desiring arbitration by serving written notice to the other. Said arbitration shall be conducted no later than 120 days 

  

 Dan Carter Employment Agreement pg. 2 

 following the date of said written notice, absent the written agreement of the parties otherwise. The prevailing party in
such an arbitration shall be entitled to costs of suit and attorneys’ fees, in addition to any award by the arbitrator. 
 Partial
Invalidity. If the application of any provision of this agreement is held invalid or unenforceable, the remaining provisions shall not be affected, but will continue to be given full force and in effect as if the part held invalid or
unenforceable had not been included. 
 Acceptance. In accepting the terms and conditions reflected in this letter, you represent
that you have not relied on any agreement or representation, oral or written, express or implied, that is not set forth expressly in this letter. If this letter reflects your understanding, please sign and return a copy to me, whereupon it shall
become a binding agreement between the Company and you. 
  

									
	Very truly yours,	 		 	
		
	Charlotte Russe Holding, Inc., and its subsidiaries (the “Company”)	 	
					
	By:	 	/s/ Mark Hoffman	 		 		 	
		 	 Mark Hoffman, President
 Chief Executive
Officer
	 		 		 	

 Accepted and Agreed To: 
  

									
				
	/s/ Daniel T. Carter	 		 	Date:	 	8/10/05
	Mr. Dan Carter	 		 		 	

  

 Dan Carter Employment Agreement pg. 3First Amendment dated September 1, 2006 to Lease Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO LEASE 
 THIS FIRST AMENDMENT TO LEASE (this “Amendment”)
is entered into as of the 1st day of September, 2006, by and between BMR-6828 NANCY RIDGE DRIVE LLC, a Delaware limited liability company (“Landlord”), and CARDIOVASCULAR BIOTHERAPEUTICS, INC., a Delaware corporation
(“Tenant”). 
 RECITALS 
 A. WHEREAS, Landlord and Tenant entered into that certain Lease dated as of August 7, 2006 (the “Lease”), whereby Tenant leases certain premises (the “Premises”) from Landlord at 6828
Nancy Ridge Drive in San Diego, California; 
 B. WHEREAS, pursuant to Section 4.1 of the Lease, Landlord has given Tenant the right
to access the Premises beginning August 1, 2006, and a delay of the Tenant’s right to such access has resulted from variety of factors, including the presence of mold as more particularly described herein; and 
 C. WHEREAS, Landlord and Tenant desire to modify and amend the Lease only in the respects and on the conditions hereinafter stated. 
 AGREEMENT 
 NOW, THEREFORE,
Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:

 1. Definitions. For purposes of this Amendment, capitalized terms shall have the meanings ascribed to them in the Lease unless
otherwise defined herein. 
 2. Phase I Report. In Section 4.1 of the Lease, “August 15, 2006” is hereby replaced
with “August 31, 2006”. 
 3. Term Commencement Date. The Term Commencement Date shall remain September 1, 2006. Within ten
(10) days after the date on which Tenant takes occupancy of the Premises (the “Occupancy Date”), Tenant shall send Landlord written notice confirming the Occupancy Date. 
 4. Additional Rent. Tenant shall not be responsible for any Additional Rent for the Premises for the month of August 2006, except (a) for any
costs of Tenant Improvements that exceed the Tenant Improvement Allowance and Additional TI Allowance for which Tenant would be responsible under the Lease and (b) pursuant to Section 5(b) below. 
 5. Mold. 
 (a)
Notwithstanding the provisions of Sections 4.1, 14 and 39.8 of the Lease, Landlord and Tenant acknowledge that the Premises contained pre-existing mold (the “Mold Condition”), as more particularly described in
the Follow-Up Post Construction Airborne Mold 

 
Spore Assessment, 6828 Nancy Ridge Road San Diego, California dated as of August 30, 2006 (the “Report”), prepared by URS Corporation.
Landlord has successfully addressed the Mold Condition, as evidenced by the Report, by, among other things, replacing the carpeting within the Premises. If, in Landlord’s reasonable discretion or as required by Applicable Laws, any further
removal, clean-up, remediation or restoration work is necessary with respect to the Mold Condition, then Landlord shall, at its sole cost, promptly take or cause to be taken any and all action necessary to perform such removal, clean-up, remediation
or restoration work. Landlord shall be solely responsible for and shall defend, indemnify and hold Tenant and its partners, members, officers, employees, successors, investors, shareholders, licensees, assigns, agents, contractors and subcontractors
(collectively, the “Tenant Parties”) harmless from and against all claims, demands, causes of action, damages, costs and liabilities, including reasonable attorneys’ fees and costs, arising out of, in connection with, or in any
way related to, the Mold Condition or Landlord’s work required by this paragraph. 
 (b) Landlord has replaced the carpet
in the Premises, fifty percent (50%) of the cost of which shall be deducted from the Tenant Improvement Allowance. 
 6. Insurance.
Notwithstanding anything in Section 4.3 of the Lease to the contrary, Tenant shall have until September 12, 2006, to provide to Landlord the evidence of insurance coverages required under such Section 4.3. 
 7. Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment
and agrees to indemnify, defend and hold Landlord harmless from any and all cost or liability for compensation claimed by any such broker or agent employed or engaged by it or claiming to have been employed or engaged by it. 
 8. No Default. Tenant represents, warrants and covenants that, to the best of Tenant’s knowledge, Landlord and Tenant are not in default of
any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder. 
 9. Effect of Amendment. Except as modified by this Amendment, the Lease and all the covenants, agreements, terms, provisions and conditions
thereof shall remain in full force and effect and are hereby ratified and affirmed. The covenants, agreements, terms, provisions and conditions contained in this Amendment shall bind and inure to the benefit of the parties hereto and their
respective successors and, except as otherwise provided in the Lease, their respective assigns. In the event of any conflict between the terms contained in this Amendment and the Lease, the terms herein contained shall supersede and control the
obligations and liabilities of the parties. From and after the date hereof, the term “Lease” as used in the Lease shall mean the Lease, as modified by this Amendment. 
 10. Miscellaneous. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall
not be considered or given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein by reference. 
  

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 11. Counterparts. This Amendment may be executed in one or more counterparts that, when taken
together, shall constitute one original. 
 IN WITNESS WHEREOF, this Amendment has been duly executed and delivered by Landlord and Tenant as
of the date and year first above written, and acknowledge that they possess the requisite authority to enter into this transaction and to execute this Amendment. 
 LANDLORD: 
 BMR-6828 NANCY RIDGE LLC, 
 a Delaware limited liability company 
  

			
		
	By:	 	/s/ Gary A. Kreitzer    
	Name:	 	Gary A. Kreitzer
	Title:	 	EVP

 TENANT: 
 CARDIOVASCULAR BIOTHERAPEUTICS, INC., 
 a Delaware corporation 
  

			
		
	By:	 	/s/ Mickael A. Flaa    
	Name:	 	Mickael A. Flaa
	Title:	 	CFO

  

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