Document:

Exhibit 10.21

 Exhibit 10.21 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT
AGREEMENT (the “Agreement”), is effective as of March 1, 2006 (the “Effective Date”) by and between Aldagen, Inc., a Delaware corporation (the “Company”), and W. Thomas Amick (the
“Executive”), an individual residing in Emerald Isle, NC. 
 W I T N E S S E T H: 
 WHEREAS, the Company wishes to employ the Executive, and the Executive desires to accept employment with the Company, upon the terms and
conditions of this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises herein, and of other
good and valuable consideration, including the employment of the Executive by the Company and the compensation to be received by the Executive from the Company from time to time, and specifically the compensation to be received by the Executive
pursuant to Section 4 hereof, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending legally to be bound, hereby agree as follows: 
 1. Employment. The Company hereby employs the Executive and the Executive hereby accepts employment as the Chief Executive Officer of
the Company upon the terms and conditions of this Agreement. 
 2. Duties. The Executive shall faithfully perform all
duties of the Company related to the position or positions held by the Executive, including but not limited to all duties set forth in this Agreement and/or in the Bylaws of the Company related to the position or positions held by the Executive and
all additional duties that are prescribed from time to time by the Board of Directors of the Company (the “Board”) or other designated officers of the Company. The Executive shall devote the Executive’s full time and attention
to the performance of the Executive’s duties and responsibilities on behalf of the Company and in furtherance of its best interests; provided, however, that the Executive, subject to the Executive’s obligations hereunder, shall also be
permitted to make personal investments, perform reasonable volunteer services and, with the prior consent of the Company, serve on outside boards of directors for non-profit corporations. The Executive shall comply with all Company policies,
standards, rules and regulations (the “Company Policies”) and all applicable government laws, rules and regulations that are now or hereafter in effect. The Executive acknowledges receipt of copies of all written Company Policies
that are in effect as of the date of this Agreement. 
 3. Term. Unless earlier terminated as provided herein, the
initial term of this Agreement shall commence on the Effective Date and shall continue until                     . Thereafter, this Agreement shall
automatically renew on a year-to-year basis on the same terms and conditions set forth herein unless: (a) earlier terminated or amended as provided herein or (b) either party gives written notice of non-renewal at least sixty
(60) days prior to the end of the initial term or any renewal term of this Agreement. The initial term of this Agreement and all renewals thereof are referred to herein as the “Term.” 

 4. Compensation. During the Term, as compensation for the services rendered by the
Executive under this Agreement, the Executive shall be entitled to receive the following (all payments are subject to applicable withholdings): 
 (a) Base Salary. The Executive shall receive a monthly salary of $18,750 (equal to an annual salary of $225,000) payable in accordance with the then-current standard payroll policies of the Company
or as otherwise agreed to by the parties. The Executive’s salary may be increased from time to time by the Board. 
 (b)
Bonuses. The Executive shall be eligible to participate in all bonus or profit sharing plans adopted by the Board. The amount awarded to the Executive under any profit sharing or bonus plan shall be in the discretion of the Board or any
committee administering such plan, based on its assessment of the Executive’s and the Company’s performance during the relevant period. 
 (c) Options. Subject to the approval of the Board, the Executive shall be entitled to receive an option to purchase up to 893,842 shares of the Common Stock of the Company at an exercise price of
$0.20 per share (which price shall not be less than the fair market value of the shares on the date of grant). The terms and conditions of such option, including vesting, shall be governed by an Incentive Stock Option Agreement to be issued by the
Company to the Executive under the Company’s Stock Option Plan. 
 (d) Benefits. The Executive shall be entitled to
receive those benefits provided from time to time to other executive employees of the Company, in accordance with the terms and conditions of the applicable plan documents provided that the Executive meets the eligibility requirements thereof. All
such benefits are subject to amendment or termination from time to time by the Company without the consent of the Executive or any other employee of the Company. 
 (e) Vacation. The Executive shall be entitled to four (4) weeks paid vacation per calendar year (with the vacation for any partial year being prorated) to be taken at such times as may be
approved by the Board. Vacation days earned in one calendar year may not be used in any subsequent calendar year. Upon the termination of the Executive’s employment with the Company, no cash shall be paid in lieu of accrued but unused vacation.

 (f) Business Expenses. The Company shall pay, or reimburse the Executive for, all reasonable expenses incurred by the
Executive directly related to conduct of the business of the Company; provided that, the Executive complies with the Company’s policies for the reimbursement or advancement of business expenses that are now or hereafter in effect. 

5. Termination. This Agreement and the Executive’s employment by the Company shall or may be terminated, as the case may be,
as follows: 
 (a) Termination upon Expiration of the Term. This Agreement and the Executive’s employment by the
Company shall terminate upon the expiration of the Term. 
  

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 (b) Termination by the Executive. The Executive may terminate this Agreement and his
employment by the Company thirty (30) days after notice to the Company. 
 (c) Termination by the Company. The
Company may terminate this Agreement and the Executive’s employment by the Company upon notice to the Executive (or his personal representative): 
 (i) at any time and for any reason; 
 (ii) upon the death of the Executive, in
which case this Agreement shall terminate immediately; provided that, such termination shall not prejudice any benefits payable to the Executive’s spouse or beneficiaries which are fully vested as of the date of death; 
 (iii) if the Executive is permanently disabled (as defined herein), in which case this Agreement shall terminate immediately; provided
that, such termination shall not prejudice any benefits payable to the Executive, the Executive’s spouse or beneficiaries which are fully vested as of the date of the termination of this Agreement. For purposes of this Agreement, the Executive
shall be considered permanently disabled when a qualified medical doctor mutually acceptable to the Company and the Executive or the Executive’s personal representative shall have certified in writing that: (a) the Executive is unable,
because of a medically determinable physical or mental disability, to perform substantially all of the Executive’s duties, with or without a reasonable accommodation, for more than one hundred and eighty (180) calendar days measured from
the last full day of work; or (b) by reason of mental or physical disability, it is unlikely that the Executive will be able, within one hundred and eighty (180) calendar days, to resume substantially all business duties and
responsibilities in which the Executive was previously engaged and otherwise discharge the Executive’s duties under this Agreement; 
 (iv) upon the liquidation, dissolution or discontinuance of business by the Company in any manner or the filing of any petition by or against the Company under any federal or state bankruptcy or
insolvency laws, which petition shall not be dismissed within sixty (60) days after filing; provided that, such termination shall not prejudice the Executive’s rights as a stockholder or a creditor of the Company; or 
 6. Confidentiality Agreement. The terms of the Confidentiality, Inventions, and Non-Competition Agreement by and between the
Company and the Executive, dated March 1, 2006 (the “Confidentiality Agreement”), are hereby incorporated by reference and are a material part of this Agreement. 
 7. Representations and Warranties. 
 (a) The Executive represents and warrants to the Company that the Executive’s performance of this Agreement and as an employee of the Company does not and will not breach any noncompetition agreement
or any agreement to keep in confidence proprietary information acquired by the Executive in confidence or in trust prior to the Executive’s employment by the Company. The Executive represents and warrants to the Company that the Executive has
not entered into, and agrees not to enter into, any agreement that conflicts with or violates this Agreement. 
  

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 (b) The Executive represents and warrants to the Company that the Executive has not brought
and shall not bring with the Executive to the Company, or use in the performance of the Executive’s responsibilities for the Company, any materials or documents of a former employer which are not generally available to the public or which did
not belong to the Executive prior to the Executive’s employment with the Company, unless the Executive has obtained written authorization from the former employer or other owner for their possession and use and provided the Company with a copy
thereof. 
 8. Indemnification by the Executive. The Executive shall indemnify and hold harmless the Company, its
directors, officers, stockholders, agents, and employees against all claims, costs, expenses, liabilities, and lost profits, including amounts paid in settlement, incurred by any of them as a result of the breach by the Executive of any provision of
this Agreement. 
 9. Notices. All notices, requests, consents, approvals, and other communications to, upon, and between
the parties shall be in writing and shall be deemed to have been given, delivered, made, and received when: (a) personally delivered; (b) deposited for next day delivery by Federal Express, or other similar overnight courier services;
(c) transmitted via telefacsimile or other similar device to the attention of
                                         with
receipt acknowledged; or (d) three (3) days after being sent or mailed by certified mail, postage prepaid and return receipt requested, addressed to the
                                         at the
Company at 2810 Meridian Parkway, Suite 148, Durham, NC 27713, and to the Executive at
                                        .

 10. Effect. This Agreement shall be binding on and inure to the respective benefit of the Company and its successors
and assigns and the Executive and his personal representatives. 
 11. Entire Agreement. This Agreement constitutes the
entire agreement between the parties with respect to the matters set forth herein and supercedes all prior agreements and understandings between the parties with respect to the same. 
 12. Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or
enforceability of any other provision. 
 13. Amendment and Waiver. No provision of this Agreement, including the
provisions of this Paragraph, may be amended, modified, deleted, or waived in any manner except by a written agreement executed by the parties. 
 14. No Assignment. Neither this Agreement nor any interest herein may be assigned by either party without the consent of the other party. 
 15. Construction. This Agreement shall be construed and enforced in accordance with the laws of the State of North Carolina, other
than its rules with respect to choice of law. 
  

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 16. Consent to Jurisdiction and Venue. Each of the parties agrees that any suit,
action, or proceeding arising out of this Agreement may be instituted against it in the District or Superior Courts of Durham County, North Carolina or in the United States District Court for the Middle District of North Carolina (assuming that such
court has subject matter jurisdiction over such suit, action or proceeding). Each of the parties hereby waives any objection that it may have to the venue of any such suit, action, or proceeding, and each of the parties hereby irrevocably consents
to the personal jurisdiction of any such court in any such suit, action, or proceeding. 
 17. Counterparts. This
Agreement may be executed in more than one counterpart, each of which shall be deemed an original, and all of which shall be deemed a single agreement. 
 18. Headings. The headings herein are for convenience only and shall not affect the interpretation of this Agreement. 
 [The remainder of this page is intentionally left blank.] 
  

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 IN WITNESS WHEREOF, the parties have executed this Employment Agreement as of the day and
year first above written. 
  

			
	ALDAGEN, INC.
		
	By:	 	 /s/ Edward L. Field

	Name:	 	 Edward L. Field

	Title:	 	 President & COO

	
	EXECUTIVE
	
	 /s/ W. Thomas Amick

	W. Thomas Amick

  

 6Exhibit 10.22

 Exhibit 10.22 
 February 19, 2008 
 David Carberry 
 1519 Brookfield Road 
 Yardley, PA 19067 
 Dear David: 
 Aldagen, Inc. (the “Company”) is pleased to offer you the position of Chief Financial Officer, at a monthly salary of $17,916.67 (equal to an annual salary of $215,000). Your net
compensation will be less all applicable deductions, withholding taxes, and other amounts required by federal and state laws. All payments to you shall be treated as separate to the fullest extent allowed by law. Your starting date with the Company
will be March 3, 2008 or such date as you and the Company mutually agree, subject to your agreement to the terms and conditions contained in this letter agreement and your execution of the Company’s standard Proprietary Information,
Inventions, Non-Competition and Non-Solicitation Agreement, a copy of which is enclosed with this letter agreement (the “Proprietary Information Agreement”). 
 You will be eligible to enroll in the employee benefit plans and programs maintained by the Company for the benefit of the Company’s
employees in accordance with the terms of such plans and programs provided that you meet the eligibility requirements of such plans or programs. The Company reserves the right to modify, amend or terminate any such plans and programs it adopts at
any time in its discretion and may decide not to provide some or all of these benefits. 
 In connection with the commencement
of your employment and subject to (i) approval of the Board of Directors of the Company (the “Board”) following the closing of the Series C-1 financing of the Company and (ii) your continued employment by the Company on
the date of grant, you will also receive an incentive stock option entitling you to purchase up to 400,000 shares of common stock of the Company (the “Common Stock”) at an exercise price that is intended to be not less than the fair
market value of the underlying Common Stock on the date of grant as determined by the Board. Twenty-five percent of the option shares will vest after the completion of six full months of employment with the Company, an additional twelve and one-half
percent of the option shares will vest after the completion of one full year of employment with the Company and the balance of the option shares will vest at the rate of 2.084% per month. The option agreement will have a maximum term of 10
years. The terms and conditions, including vesting, for such stock option will be set forth in a stock option agreement in a form acceptable to the Company. 
 You will be eligible to receive an annual bonus of up to twenty-five percent (25%) of your annual based salary, which the Board may award in its discretion based upon the

 David Carberry 
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Company’s performance and your achievement of certain annual performance criteria. Any bonus will be paid on or before March 15th of the calendar year following the calendar year in which the bonus was earned. 
 You will be entitled to twenty (20) days of vacation annually, with six and 67/100 (6.67) hours accruing per pay period completed
with the Company. If your employment terminates for any reason whatsoever, you will not be entitled to receive any cash payment for unused vacation accrued to the date of your termination except in accordance with the terms of the Employee Handbook.

 The Company will reimburse you for all reasonable and necessary travel expenses and other disbursements actually incurred by
you, for or on behalf of the Company, in the performance of your duties during your employment. As with other employees, you will be required to comply with the Company’s policies for reimbursement or advancement of expenses that are then in
effect. 
 As you are aware, your employment by the Company will be for full-time employment and you will be required to devote,
during regular business hours, all your working time to the business of the Company and not to engage in any other business or private services to any other business either as an employee, officer, director, agent, contractor or consultant, except
with the express written consent of the Company. You will hold in a fiduciary capacity for the benefit of the Company all information with respect to the Company’s finances, sales, profits, and other proprietary and confidential information
acquired by you during your employment. In furtherance of this condition of your employment, we would kindly request that you sign the enclosed Proprietary Information Agreement. 
 By your signature below, you represent and warrant to the Company that you: (i) are not subject to any employment, non-competition or other
similar agreement that would prevent or interfere with the Company’s employment of you on the terms set forth herein; and (ii) have not brought and will not bring with you to the Company, any materials or documents of a former employer which
are not generally available to the public or which did not belong to you prior to your employment with the Company, unless you have obtained written authorization from the former employer or other owner for their possession and use and provided the
Company with a copy thereof. 
 This letter agreement is not intended to, nor does it, create any employment contract for any
specified term or duration between you and the Company. Your employment with the Company is terminable by you or the Company at any time with or without cause or notice. By accepting employment with the Company, you acknowledge that no contrary
representation has been made to you. The Company requests you to provide two (2) weeks notice prior to terminating your employment with the Company. 
 Upon the termination of your employment with the Company and prior to your departure from the Company, you agree to submit to an exit interview for the purposes of reviewing this letter agreement, the
enclosed Proprietary Information Agreement and the trade secrets of the Company, and surrendering to the Company all proprietary or confidential information and articles belonging to the Company. 

 If the foregoing accurately sets forth our agreement, we would appreciate your returning to
us the duplicate of this letter agreement and the Proprietary Information Agreement, duly signed and dated in the spaces provided, whereupon this letter agreement and the Proprietary Information Agreement will become binding upon you and the
Company. This offer is valid through February 29, 2008. 
 Finally, it is with great pleasure that I welcome you to Aldagen
and wish you every success in your position. The Company is delighted with the prospect of your joining our team. 
  

			
	Aldagen, Inc.
		
	By:	 	 /s/ W. Thomas Amick

		 	Thomas Amick, Chief Executive Officer

 I have read, understand, and agree to all of the above and hereby accept the Company’s
offer of employment on the above terms and conditions. I understand that my employment with the Company is considered “at will” meaning that either the Company or I may terminate this employment relationship at any time for any reason
without cause or notice. I further understand and agree that my employment is contingent upon my execution of the Proprietary Information Agreement. 
  

					
	 /s/ David Carberry
	    	 2/19/2008
	  	
	Employee Signature	    	Date	  	
	Printed Name: David Carberry	    		  	

 Enclosure

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