Document:

Exhibit 10.1

 

first
amendment

 

to

 

EXECUTIVE
EMPLOYMENT AGREEMEnt

 

Company and Executive
agree as follows:

 

		1.	As used throughout this First Amendment, the initially
capitalized terms shall have the meanings ascribed to them in the Agreement, unless first or otherwise defined herein.

 

		(a)	“Agreement” means the employment agreement
made and entered into by and between Company and Executive on the 18th day of August 2017, a copy of which was filed
by the Company with the SEC.

 

		(b)	“Apartment” means 148 Greene Street, Apt
3S, New York, New York.

 

		(c)	“Application Fee” means the $500 fee payable
to The Andrews Organization, which is the property manager for the Co-op Board.

 

		(d)	“Associated Fees” means the Broker’s
Fee and the Application Fee.

 

		(e)	“Broker’s Fee” means the 15% commission
payable to Corcoran Group Real Estate, the broker with respect to the sublease of the Apartment, on the total Rent due
under the Lease for the Rental Term, which amount totals $22,500.

 

		(f)	“Co-op Board” means 150 Greene Street
Corp. which is the co-op board for the co-op in which the Apartment is located.

 

		(g)	“Company” means Akari Therapeutics PLC,
a company organized under the law of England and Wales.

 

		(h)	“Deposit” means the $39,500 in deposits
comprising (i) the $37,500 security deposit to Sublandlord, and (ii) the $2,000 damage deposit to the Co-op Board; each of which
deposits is refundable, less deductions for any allowable charges, at the end of the Rental Term.

 

		(i)	“Executive” means David Horn Solomon Ph.D.,
who, as of the First Amendment Date, resides at Hornbaekgaardsvej 2, Hornbaek 3100, Denmark, is employed by Company as its Chief
Executive Officer, and serves as a Class A Director on its Board of Directors.

 

		(j)	“First Amendment” means this first amendment
to the Agreement.

 

		(k)	“First Amendment Date” means 14 September
2017.

 

    	 	Page 1 of 5

     

    

 

		(l)	“Lease” means the sublease to be entered
into prior to the Relocation Date by and between Executive and Sublandlord, for the rental of the Apartment to Executive for the
Rental Term.

 

		(m)	“Relocation Date” shall have the meaning
ascribed to it in Section 3(j)(i) of the Agreement as amended.

 

		(n)	“Rent” means the monthly rental for the
Apartment which, for the duration of the Rental Term, is Twelve-Thousand-Five-Hundred Dollars (US$12,500) per month.

 

		(o)	“Rental Term” means the period commencing
on 15 September 2017 and expiring on 14 September 2018.

 

		(p)	“Sublandlord” means Arita Shahrzad, having
an address at 276 5th Avenue, Suite 402, New York, New York 10001, who is the existing tenant of the Apartment.

 

		(q)	“Transition Payments” shall have the meaning
ascribed to it in Section 3(j)(vi) of the Agreement as amended.

 

		(r)	“Transition Period” shall have the meaning
ascribed to it in Section 3(j)(ii) of the Agreement as amended.

 

		2.	The Agreement is amended as follows:

 

		(a)	Section 3. (j) of the Agreement is amended to read in
its entirety as follows:

 

3.
(j)Relocation.

 

		(i)	CEO will relocate his primary residence to the Apartment,
and shall be resident in, New York, New York on 15 September 2017 (the “Relocation Date”).

 

		(ii)	The period commencing on the Employment Date and
ending on 31 July 2018 shall be known as the “Transition Period”.

 

		(iii)	During the Term, all travel expenses of Executive
which are not business travel and all travel by Executive’s family members shall be at the sole expense of Executive.

 

		(iv)	Executive shall submit expense reports for the business
travel expenses associated with the Schedule and shall maintain these expenses within the budget agreed between the Executive
and the Executive Chairman.

 

    	 	Page 2 of 5

     

    

 

		(iv)	All costs of relocation of Executive’s family,
including without limitation Executive and his family’s personal property, wherever situated, to the United States shall
be at the sole expense of Executive.

 

		(v)	All costs associated with the sale and purchase of
realty and all lease payments, except as expressly set forth herein, shall be the sole responsibility of Executive.

 

		(vi)	Apartment During Transition Period.

 

		(A)	Company shall pay the following in lieu of any relocation
benefits, payment, or otherwise payable to the Executive:

 

		A.	The Rent for the period commencing on the Relocation
Date and ending on the last day of the Transition Period, which amounts to $131,250 in total;

 

		B.	The Associated Fees which amount to $23,000 in total;
and

 

		C.	The Deposit which amounts to $39,500 in total;

 

(collectively, the “Transition
Payments”). Company shall pay the Transition Payments directly to the individuals or entities to which they are owed in full
and when due. Upon receipt of the fully executed First Amendment and the fully executed Lease, Company shall pay $12,500 of the
$131,250 in Rent, the Associated Fees, and the Deposit. Following receipt of this fully executed First Amendment, the fully executed
Lease, and receipt of the approval of the Lease by the Co-op Board, Company shall pay the remaining $118,750 of the Rent. Any rebate,
deduction or abatement associated with the Lease during the Transition Period shall be the property of the Company.

 

		(B)	Executive shall pay:

 

		A.	the Rent for the portion of the Rental Term which extends
beyond the Transition Period; and

 

		B.	all utilities and other such expenses associated with
the Apartment during the Rental Term.

 

    	 	Page 3 of 5

     

    

 

		(vii)	Imputed Income, Tax Liability, No Gross Up.
If, during the Term, any payments made by Company to or on behalf of Executive, including, without limitation, with respect to
the Apartment, are deemed or determined to be reportable as income to Executive, then Executive shall be solely responsible for
any and all taxes due on such payments regardless of the country or countries in which such taxes may be due and shall indemnify
Company with respect to any such taxes which Company may be required to pay. Company shall report to the appropriate taxing authorities
as income to Executive all such payments which it reasonably believes should so be reported and shall withhold such amounts as
it is required to withhold. For the avoidance of doubt, Company shall not gross up and shall have no obligation to gross up, any
such payments which are or which are imputed to be income to Executive and on which taxes are due.

 

		(viii)	Repayment.

 

		(A)	If subsequent to Company’s payment of the Associated Fees, the Deposit and the first month’s
rent, the Co-op Board does not accept Executive as a subtenant and rejects the Lease, then Executive shall promptly refund such
payments to Company and if not refunded within thirty (30) days, Company shall be entitled to deduct such amounts from Executive’s
pay until such amounts are paid in full.

 

		(B)	If subsequent to payment of the Transition Payments by Company and prior to the end of the Transition
Period, the lease is revoked or terminated, Executive breaches any obligation hereunder, or Executive’s employment terminates
for any reason whatsoever, then Executive shall pay to Company within thirty (30) days of such event, the portion of the Transition
Payments attributable to the balance of the Transition Period following such revocation or termination. 

 

		(C)	At the end of the Rental Term, Executive shall repay the Deposit to Company.

 

		(ix)	Visa Assistance. Company shall provide reasonable
legal assistance as determined by the Company to Executive in securing visas for his spouse and child prior to the end of the
Transition Period.

 

    	 	Page 4 of 5

     

    

 

		3.	Additional Terms.

 

		(a)	This First Amendment is effective as of the First Amendment
Date.

 

		(b)	Except as expressly amended by this First Amendment,
the Agreement shall remain in full force and effect according to its terms.

 

		(c)	This First Amendment may be executed in two or more
counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. For all purposes, a signature sent by email as a pdf shall be treated
as an original.

 

IN WITNESS WHEREOF,
Executive and Company have executed this First Amendment as of the First Amendment Date.

 

	Executive	 	Company	 
	 	 	 	 	 
	 	 	Akari Therapeutics, Plc	 
	 	 	 	 	 
	 	 	 	 	 
	/s/ David Horn Solomon	 	By:	/s/ Ray Prudo	 
	David Horn Solomon	 	Name:	
Ray Prudo	 
	   	 	Title:	Executive
Chairman	 

 

    	 	Page 5 of 5EX-10.1

 Exhibit 10.1 
  

 
 JOHNSON CONTROLS INTERNATIONAL PLC 

2012 SHARE AND INCENTIVE PLAN (AMENDED AND RESTATED AS 

OF SEPTEMBER 2, 2016) (THE “PLAN”) 

RESTRICTED SHARE UNIT AND PERFORMANCE UNIT 

AWARD AGREEMENT 

Terms of Unit Award 
 The Plan has
been adopted to permit awards to be made to certain key employees of the Company or any Affiliate. The Company desires to provide incentives and potential rewards for future performance by the Participant by providing the Participant with a means to
increase his proprietary interest in the Company’s success. 
 Definitions. Capitalized terms used in this Award Agreement have the following
meanings: 
  

	(a)	“Award” means this grant of Units. 

  

	(b)	“Award Notice” means the Award notification delivered to the Participant. 

  

	(c)	“Cause” means (i) if the Participant is covered by the Johnson Controls International plc Severance and Change in Control Policy for Officers (or any successor policy), the definition of “Cause”
contained in such policy, or (ii) otherwise, any of the following as determined by the Committee: (A) violation of the provisions of any employment agreement, non-competition agreement,
confidentiality agreement, or similar agreement with the Company or a Subsidiary, or the Company’s or a Subsidiary’s code of ethics, as then in effect, (B) conduct rising to the level of gross negligence or willful misconduct in the
course of employment with the Company or a Subsidiary, (C) commission of an act of dishonesty or disloyalty involving the Company or a Subsidiary, (D) violation of any federal, state or local law in connection with the Participant’s
employment or service, or (E) breach of any fiduciary duty to the Company or a Subsidiary. 

  

	(d)	“Company” means Johnson Controls International plc, an Irish public limited company, or any successor thereto. 

  

	(e)	“Fair Market Value” means, per Share on a particular date, the closing sales price on such date on the New York Stock Exchange, or if no sales of Shares occur on the date in question, on the next preceding
date on which there was a sale on such market. 

  

	(f)	“Performance Unit” means the right to receive one Share, to the extent the Performance Goals specified in the Summary of Terms and Conditions delivered to the Participant are achieved. 

 

	(g)	“Plan” means the Johnson Controls International plc 2012 Share and Incentive Plan (as amended and restated as of September 2, 2016) and as may be further amended from time to time. 

 

	(h)	“Restricted Share Unit” means the right to receive a payment, in cash or Shares, equal to the Fair Market Value of one Share, that is subject to a risk of forfeiture during the Restriction Period.

  

	(i)	“Restriction Period” means the length of time indicated in the Award Notice during which the Award is subject to vesting. During the Restriction Period, the Participant cannot sell, transfer, pledge, assign or
otherwise encumber the Restricted Share Units (or a portion thereof) subject to this Award. 

  

	(j)	“Retirement” means termination of employment from the Company and its Subsidiaries (for other than Cause) on or after attainment of age fifty-five (55) and completion of five (5) years of continuous
service with the Company and its Subsidiaries (including, for Participants who are Legacy Johnson Controls Employees, service with Johnson Controls, Inc. and its affiliates prior to the Merger). 

 

	(k)	“Share” means an ordinary share in the capital of the Company. 

  

	(l)	“Unit” means a Restricted Share Unit or a Performance Unit. 

 Other capitalized terms used in this Award Agreement have the meanings given in the Plan. The
parties agree as follows: 
  

	1.	Grant of Award. Subject to the terms and conditions of the Plan, a copy of which has been delivered to the Participant and made a part of this Award, and to the terms and conditions of this Award Agreement, the
Company grants to the Participant an award of Restricted Share Units on the date and with respect to the number of Units specified in the Award Notice. If, however, (a) the Participant remains continuously employed by the Company or an
Affiliate through the end of the Restriction Period, and (b) the Compensation Committee certifies that the Performance Goals described in the Summary of Terms and Conditions have been achieved at an above target level, then the Restricted Share
Units shall be converted into Performance Units, and shall be earned and settled as provided in paragraph 3 in lieu of paragraph 2. 

  

	2.	Terms of Restricted Share Units.  

  

	 	a.	Restriction Period. During the Restriction Period, the Restricted Share Units shall be subject to forfeiture as provided in subparagraph d. 

 

	 	b.	Settlement of Restricted Share Units. All Restricted Share Units earned hereunder shall be credited to the Participant’s account under the Johnson Controls Senior Executive Deferred Compensation Plan (or any
successor or similar deferred compensation plan for which the Participant is eligible). 

  

	 	c.	Dividend Equivalent Units. Any cash dividends or other distributions paid or delivered with respect to the Shares for which the record date occurs on or before the last day of the Restriction Period will result
in a credit to a bookkeeping account for the benefit of the Participant. The credit will be equal to the dividends or other distributions that would have been paid with respect to the Shares subject to the Restricted Share Units had such Shares been
outstanding. The account will be converted into and settled in additional Shares at the same time as the Restricted Share Units are allocated to the Johnson Controls Senior Executive Deferred Compensation Plan. Prior to the end of the Restriction
Period, such account will be subject to the same terms and conditions (including risk of forfeiture) as the Restricted Share Units to which the dividends or other distributions relate. 

 

	 	d.	Termination of Employment. If, prior to the end of the Restriction Period, the Participant’s employment with the Company and its Affiliates is terminated by the Company or an Affiliate without Cause, or if
the Participant’s employment ends due to death, Disability, or Retirement, in all cases at a time when the Participant could not have been terminated for Cause, then the Participant shall become fully vested in the Restricted Share Units. If
the Participant’s employment is terminated for any reason not described above (including for Cause), then any Restricted Share Units (and all dividend equivalents credited thereon) shall automatically be forfeited. The Company may suspend
payment or delivery of Shares (without liability or interest thereon) pending the Committee’s determination of whether the Participant was or should have been terminated for Cause. 

 

	3.	Terms of Performance Units. 

  

	 	a.	Performance Units Earned. If the Restricted Share Units are converted into Performance Units as provided under Paragraph 1, then at the end of the performance period indicated in the Award Notice, the number of
Performance Units earned by the Participant shall be determined, in the sole discretion of the Committee, as set forth in the Summary of Terms and Conditions delivered to the Participant. 

 

	 	b.	Settlement of Performance Units. All Performance Units earned hereunder shall be credited to the Participant’s account under the Johnson Controls Senior Executive Deferred Compensation Plan (or any successor
or similar deferred compensation plan for which the Participant is eligible). 

  
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	 	c.	Dividend Equivalent Units. Any cash dividends or other distributions paid or delivered with respect to the Shares for which the record date occurs on or before the last day of the performance period will result
in a credit to a bookkeeping account for the benefit of the Participant. The credit will be equal to the dividends or other distributions that would have been paid with respect to the Shares subject to the Performance Units had such Shares been
outstanding. The account will be converted into and settled in additional Shares at the same time as the Performance Units are allocated to the Johnson Controls Senior Executive Deferred Compensation Plan. Prior to the end of the performance period,
such account will be subject to the same terms and conditions (including Performance Goals and risk of forfeiture) as the Performance Units to which the dividends or other distributions relate. 

4.    Alienation of Award. The Participant (or beneficiary) shall not have any right to assign, transfer, sell, pledge or otherwise
encumber this Award. 
 5.    No Voting Rights. The Participant shall not have any voting rights with respect to the number of
Shares underlying the Units until such Shares have been earned and issued. 
 6.    Withholding. The Participant agrees to remit
to the Company any foreign, Federal, state and/or local taxes (including the Participant’s FICA tax obligation) required by law to be withheld with respect to the vesting of the Units or the issuance of Shares under this Award. The Company can
delay the issuance of Shares or can withhold from cash or property, including Shares issuable to the Participant under this Award (including on a deferred basis), in the amount needed to satisfy any withholding obligations; provided that, to the
extent Shares are withheld to satisfy taxes, the amount to be withheld may not exceed the total maximum statutory tax withholding obligations associated with the transaction to the extent needed for the Company and its Subsidiaries to avoid an
accounting charge. Notwithstanding anything to the contrary in this Award, if the Company or any Affiliate of the Company is required to withhold any Federal, state or local taxes or other amounts in connection with the Award, then the Company may
require the Participant to pay to the Company, in cash, promptly on demand, amounts sufficient to satisfy such tax obligations or make other arrangements satisfactory to the Company regarding the payment to the Company of the aggregate amount of any
such taxes and other amounts. 
 7.    No Claim for Forfeiture. Neither the Award nor any benefit accruing to the Participant
from the Award will be considered to be part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments. In no event may the Award or any benefit accruing to the
Participant from the Award be considered as compensation for, or relating in any way to, past services for the Company or any Affiliate. In consideration of the Award, no claim or entitlement to compensation or damages shall arise from forfeiture of
the Award resulting from termination of the Participant’s employment by the Company or any Affiliate (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and its
Affiliates from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by acknowledging the grant, the Participant shall have been deemed irrevocably to
have waived any entitlement to pursue such claim. 
 8.    Electronic Delivery. The Company or its Affiliates may, in its or
their sole discretion, decide to deliver any documents related to current or future participation in the Plan or related to this Award by electronic means. The Participant hereby consents to receive such documents by electronic delivery and agrees
to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the Company. The Participant hereby agrees that all on-line acknowledgements shall have the same force and effect as a written signature. 

  
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 9.    Securities Compliance. The Company may place a legend or legends upon the
certificates for Shares issued under the Plan and may issue “stop transfer” instructions to its transfer agent in respect of such Shares as it determines to be necessary or appropriate to (a) prevent a violation of, or to obtain an
exemption from, the registration requirements of the Securities Act of 1933, as amended, applicable state securities laws or other legal requirements, or (b) implement the provisions of the Plan, this Award or any other agreement between the
Company and the Participant with respect to such Shares. 
 10.    Successors. All obligations of the Company under this Award
shall be binding on any successor to the Company. The terms of this Award and the Plan shall be binding upon and inure to the benefit of the Participant and his heirs, executors, administrators or legal representatives. 

11.    Legal Compliance. The granting of this Award and the issuance of Shares under this Award shall be subject to all applicable
laws, rules, and regulations and to such approvals by any governmental agencies or national securities exchanges as may be required. 

12.    Governing Law; Arbitration. This Award, and the interpretation of this Award Agreement, shall be governed by (a) the
internal laws of Ireland (without reference to conflict of law principles thereof that would direct the application of the laws of another jurisdiction) with respect to the validity and authorization of any Shares issued under this Award, and
(b) the internal laws of the State of Wisconsin (without reference to conflict of law principles thereof that would direct the application of the laws of another jurisdiction) with respect to all other matters. Arbitration will be conducted per
the provisions in the Plan. 
 13.    Data Privacy and Sharing. As a condition of the granting of the Award, the Participant
acknowledges and agrees that it is necessary for some of the Participant’s personal identifiable information to be provided to certain employees of the Company, the third party data processor that administers the Plan and the Company’s
designated third party broker in the United States. These transfers will be made pursuant to a contract that requires the processor to provide adequate levels of protection for data privacy and security interests in accordance with the EU Data
Privacy Directive 95/46 EC and the implementing legislation of the Participant’s home country (or any successor or superseding regulation). By acknowledging the Award, the Participant acknowledges having been informed of the processing of the
Participant’s personal identifiable information described in the preceding paragraph and consents to the Company collecting and transferring to the Company’s Shareholder Services Department, and its independent benefit plan administrator
and third party broker, the Participant’s personal data that are necessary to administer the Award and the Plan. The Participant understands that his personal information may be transferred, processed and stored outside of the
Participant’s home country in a country that may not have the same data protection laws as his home country, for the purposes mentioned in this Award. 

This Award, the Award Notice, the Summary of Terms and Conditions delivered to the Participant and any other documents expressly referenced in this Award
contain all of the provisions applicable to the Award and no other statements, documents or practices may modify, waive or alter such provisions unless expressly set forth in writing, signed by an authorized officer of the Company and delivered to
the Participant. 
 14.    Non-Competition;
Non-Solicitation. 
  

	 	a.	Except as prohibited by law, the Participant agrees that during his employment with the Company or its Affiliates, and for the one year period following the Participant’s termination of employment for any reason,
the Participant will not directly or indirectly, own, manage, operate, control (including indirectly through a debt, equity investment, or otherwise), provide services to, or be employed by, any person or entity engaged in any business that is
(i) located in a region with respect to which the Participant had substantial responsibilities while employed by the Company or its Affiliates, and (ii) competitive, with (A) the line of business or businesses of the Company or its
Subsidiaries that the Participant was employed with during the Participant’s employment (including any prospective business to be developed or acquired that was proposed at the date of termination), or (B) any other business of the Company
or its Subsidiaries with respect to which the Participant had substantial exposure during such employment. 

  

	 	b.	 Except as prohibited by law, the Participant further agrees that during his employment with the Company or its
Affiliates, and for the two-year period thereafter, the Participant 

  
 4 

	 	
will not, directly or indirectly, on his own behalf or on behalf of another (i) solicit, recruit, aid or induce any employee of the Company or any of its Affiliates to leave their employment
with the Company or its Affiliates in order to accept employment with or render services to another person or entity unaffiliated with the Company or its Subsidiaries, or hire or knowingly take any action to assist or aid any other person or entity
in identifying or hiring any such employee, or (ii) solicit, aid, or induce any customer of the Company or any of its Affiliates to purchase goods or services then sold by the Company or its Affiliates from another person or entity, or assist
or aid any other persons or entity in identifying or soliciting any such customer, or (iii) otherwise interfere with the relationship of the Company or any of its Subsidiaries with any of its employees, customers, agents, or representatives.

  

	 	c.	Irreparable injury will result to the Company, and to its business, in the event of a breach by the Participant of any of the Participant’s covenants and commitments under this Award, including the covenants of non-competition and non-solicitation. Therefore, in the event of a breach of such covenants and commitments, in the sole discretion of the Company, any of the
Participant’s unvested Units shall be immediately rescinded and the Participant will forfeit any rights he or she has with respect thereto. In the event of such a breach, upon demand by the Company, the Participant hereby agrees and promises
immediately to deliver to the Company the number of Shares (or, in the discretion of the Company, the cash value of said Shares) the Participant received for Units that vested or were delivered during the period beginning six months prior to the
Participant’s termination of employment and ending on the six-month anniversary of such termination of employment. In addition, the Company reserves all rights to seek any and all remedies and damages
permitted under law, including, but not limited to, injunctive relief, equitable relief and compensatory damages. The Participant further acknowledges and confirms that the terms of this paragraph 14, including but not limited to the time and
geographic restrictions, are reasonable, fair, just and enforceable by a court. 

  

	 	d.	The Participant understands and agrees that by accepting this Award (and the opportunity to acquire Shares hereunder), the provisions of this paragraph 14 are binding upon the Participant, regardless of whether Shares
are ultimately issued pursuant to this Award. These provisions survive the termination of this Award Agreement. 

 Failure of the
Participant to affirmatively ACKNOWLEDGE or reject this Award within the sixty (60) day period following the date of grant will result in the Participant’s IMMEDIATE AND AUTOMATIC acceptance of this Award and the terms and conditions of
this Award Agreement and the Plan, including the non-competition and non-solicitation provisions contained herein. 
 The Company has caused this Award
to be executed by one of its authorized officers as of the date of grant. 
 JOHNSON CONTROLS INTERNATIONAL PLC 

/s/ Judith A. Reinsdorf 
 Judith A. Reinsdorf 

Executive Vice President and General Counsel 

  
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