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  Exhibit 10.14    
    

 

 

			
	

 	 	ISU Research Park

2901 South Loop Drive

Building 3 Suite 3900

Ames, Iowa 50010

Phone (515) 296-5555

Fax (515) 296-5557

 

 June 26,
2008 

Gordon
Link

8947 Prairie Knoll Drive

Longmont, CO 80503 

Dear
Gordon, 

        On
behalf of NewLink Genetics, I would like to extend an offer to you for the position of Chief Financial Officer with NewLink Genetics. You will be compensated at the rate $18,750 per
month to be paid on a semi-monthly basis. You will also be eligible for an annual performance bonus of up to 25% of your base compensation. This will be based on mutual agreed upon
performance objectives. In addition, you will be granted 210,000 shares of NewLink Genetics Corporation stock options subject to the Board of Directors approval. This gives you the right to purchase
company stock and is on a graded vesting schedule over four years with a one-year cliff provision. 

        Overview
of the Compensation Package: 

 

 

			
	Base Salary:	 	$225,000 when considered on an annual basis
	Performance Bonus:	 	$56,250*
	Moving Expenses;	 	$30,000 up to with receipts
	401(K):	 	3% of contribution equal to $6,750
	Stock Options NLG:	 	210,000**
	Stock Options BPSC:	 	.25% equity in BioProtection Systems Corporation
	Healthcare Coverage

20 Days PTO + 8 Holiday	 	Majority Company paid
	Loan	 	$500,000 interest free loan up to 18 months or until your home is sold
	Total Package:	 	$318,000

 

 

	*
	Up
to 25% of base compensation dependent on meeting performance objectives

	**
	Approximately
1% of total outstanding shares, 20,863,969, post Series C round 

 

         NewLink
also offers an attractive benefits package including group health insurance and a flexible spending tax savings plan. We offer Paid Time Off. Employees earn six hours per pay
period towards Paid Time Off which is equivalent to 20 days of Paid Time Off. You will receive an additional two days. Additionally, after completing six months of employment with the Company
you become eligible to participate in our 401k Plan with January 1st and July 1st enrollment dates. NewLink Genetics will make a special company contribution to the 401K
plan on your behalf equal to 3% of your total compensation each pay period. You will be immediately 100% vested in this special company contribution. You will receive the 401k contribution regardless
of whether you defer any of your compensation into the plan. You may also elect to participate in our dental, life and/or disability plans with an effective date of the first of the month after three
months of employment. 

        We
are looking forward to working with you and feel this will be a mutually rewarding relationship for yourself and NewLink Genetics. We would like a response no later than
July 3, 2008. If you accept, we would like you to begin employment on-site any time between July 7 and August 15, 2008. If this is agreeable, please sign one copy of
this letter. 

        If
you have any questions, please don't hesitate to call. I can be reached at (515) 296-4029. 

 

 

			
	Sincerely,	 	 
	
 Ronee Wagener, MBA, SPHR

Human Resources Manager	
 	
Gordon H. Link, Jr.

 

 

QuickLinks

Exhibit 10.14Exhibit
10.15

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (the “Agreement”)
is made as of this 22nd day of November, 2010, by and between
NewLink Genetics Corporation (the “Company”), and Gordon
Link (“Executive”) (collectively, the “Parties”).

 

WHEREAS, the Company wishes to continue to employ Executive
and to assure itself of the continued services of Executive on the terms set
forth herein;

 

WHEREAS, Executive wishes to be so employed under the terms
set forth herein;

 

WHEREAS, Executive and the Company are parties to an offer
letter dated 6/2/2008.

 

WHEREAS, the Parties desire to amend and restate the offer
letter to reflect certain additional and revised terms of Executive’s
employment; and

 

WHEREAS, the Parties intend that this Agreement shall supersede
and replace any similar agreements that presently exist or may have previously
existed between the Parties regarding the terms of Executive’s employment with
the Company.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the mutual promises and
covenants contained herein, it is hereby agreed by and between the Parties
hereto as follows:

 

1.                                      EMPLOYMENT.  The Company will continue to
employ Executive and Executive shall continue to serve the Company in the
capacity of Chief Financial Officer (“CFO”).

 

2.                                      AT-WILL
EMPLOYMENT.  It is understood and
agreed by the Company and Executive that this Agreement does not contain any
promise or representation concerning the duration of Executive’s employment
with the Company. Executive specifically acknowledges that his employment with
the Company is at-will and may be altered or terminated by either Executive or
the Company at any time, with or without cause and/or with or without
notice.  The nature, terms or conditions
of Executive’s employment with the Company cannot be changed by any oral
representation, custom, habit or practice, or any other writing.  In addition, that the rate of salary, any
bonuses, paid time off, other compensation, or vesting schedules are stated in
units of years or months or weeks does not alter the at-will nature of the
employment, and does not mean and should not be interpreted to mean that
Executive is guaranteed employment to the end of any period of time or for any
period of time. In the event of conflict
between this disclaimer and any other statement, oral or written, present or
future, concerning terms and conditions of employment, the at-will relationship
confirmed by this disclaimer shall control. 
This at-will status cannot be altered except in a writing signed by
Executive and approved by the Board of Directors of the Company (the “Board of
Directors”).

 

3.                                      DUTIES.  Executive shall continue to render exclusive,
full-time services to the Company as its CFO.  Executive shall report to Chief Executive
Officer.  Executive shall 

 

 

perform services under this Agreement primarily at
the Ames or Des Moines, Iowa, offices of the Company, and from time to
time at such other locations as is necessary to perform the duties of CFO
under this Agreement.  Subject to the
terms of this Agreement, Executive’s responsibilities, working conditions and
duties may be changed, added to or eliminated during his employment at the sole
discretion of the Chief Executive Officer. 
During Executive’s employment with the Company he shall devote his best
efforts and his full business time, skill and attention to the performance of
his duties on behalf of the Company.

 

4.                                      POLICIES
AND PROCEDURES.  Executive
agrees that he is subject to and will comply with the policies and procedures
of the Company, as such policies and procedures may be modified, added to or
eliminated from time to time at the sole discretion of the Company, except to
the extent any such policy or procedure specifically conflicts with the express
terms of this Agreement.  Executive
further agrees and acknowledges that any written or oral policies and
procedures of the Company do not constitute contracts between the Company and
Executive.

 

5.                                      BASE
SALARY.  For all
services rendered and to be rendered hereunder, the Company agrees to pay to
the Executive, and the Executive agrees to accept a salary of $239,794
per annum (“Base Salary”) which
will be paid periodically in accordance with normal Company payroll practices
and shall be subject to such deductions or withholdings as the Company is
required to make pursuant to law, or by further agreement with the
Executive.  Executive’s salary shall be
subject to annual review and adjustment by the Board of Directors.

 

6.                                      STOCK
OPTIONS.  Executive
was previously granted options to purchase 210,000 shares of Company
common stock.  Except
as expressly modified by this Agreement, the vesting schedule and all other
terms, conditions and limitations of the options will be governed by the
Company’s 2000 and/or 2009 Equity Incentive Plans (the “Plans”)
and in the stock option grant notices and stock option agreements approved by
the Board and entered into by Executive.

 

7.                                      BONUS.  Executive
may be eligible to receive an annual performance bonus of up to 25% of
his Base Salary subject to employment taxes, withholding and deductions (“Bonus”) based upon Executive’s achievements
of certain milestones and performance objectives established by the Company (“Variable Incentive Bonus Plan”).  Except as expressly provided otherwise
herein, Executive must remain employed with the Company throughout the
applicable bonus year in order to be eligible for any Bonus.  The Board of Directors or the Compensation
Committee, in its sole discretion, shall determine the extent to which
Executive has achieved the performance targets upon which Executive’s Bonus is
based, and the amount of Bonus to be paid to Executive, if any.  Bonuses are not earned until they are
approved in writing by the Board of Directors or Compensation Committee.

 

8.                                      OTHER
BENEFITS.  While employed by the
Company as provided herein:

 

(a)                                  Executive
Benefits.  The
Executive shall be entitled to all benefits to which other executive officers
of the Company are entitled, on terms comparable thereto, including, without
limitation, participation in pension and profit sharing plans, 401(k) plan,
group insurance policies and plans, medical, health, vision, and disability
insurance policies and plans, and the like, which may be maintained by the
Company for the benefit of its executives. 

 

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The Company reserves the right to alter and amend
the benefits received by Executive from time to time at the Company’s
discretion.

 

(b)                                  Expense
Reimbursement.  The
Executive shall receive, against presentation of proper receipts and vouchers,
reimbursement for direct and reasonable out-of-pocket expenses incurred by him
in connection with the performance of his duties hereunder, according to the
policies of the Company.

 

(c)                                  Vacation.  Executive will be entitled to twenty (20)
vacation days, which will accrue in monthly increments.

 

9.                                      CONFIDENTIAL INFORMATION, RIGHTS AND DUTIES.

 

(a)                                                          Proprietary
Information.  Executive reaffirms and
agrees to execute and abide by the Company’s Proprietary Information and
Inventions Agreement (the “Proprietary
Information Agreement”), attached hereto as Exhibit A.

 

(b)                                                          Exclusive
Property.  Executive
agrees that all Company-related business procured by the Executive, and all
Company-related business opportunities and plans made known to Executive while
employed by the Company, are and shall remain the permanent and exclusive
property of the Company.

 

(c)                                                          Non-Competition and Non-Solicitation. 
Executive agrees that for a period of one year following his last day
of employment with the Company, he shall continue to comply with the
non-competition and non-solicitation obligations set forth in the Proprietary
Information Agreement.

 

10.                               TERMINATION.  Executive and the Company each acknowledge
that either party has the right to terminate Executive’s employment with the
Company at any time for any reason whatsoever, with or with out cause or
advance notice pursuant to the following:

 

(a)                                  Termination
by Death or Disability. 
Subject to applicable state or federal law, in the event that Executive
shall die during his employment hereunder or become permanently disabled, as
evidenced by notice to the Company and Executive’s inability to carry out his
job responsibilities for a continuous period of more than six months, Executive’s
employment and the Company’s obligation to make payments hereunder shall
terminate on the date of his death, or the date upon which, in the sole
determination of the Board of Directors, Executive has become permanently
disabled.  Vesting of all options shall cease
on the date of such termination.

 

(b)                                  Voluntary
Resignation by Executive.  In
the event that Executive voluntarily terminates his employment with the
Company, the Company’s obligation to make payments hereunder shall cease upon
such termination, except the Company shall pay Executive any salary earned but
unpaid prior to termination, any benefits accrued prior to termination, all
accrued but unused vacation, and any business expenses that were incurred but
not reimbursed as of the date of termination. 
Vesting of all options shall cease on the date of such termination.

 

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(c)                                  Termination
for Cause.  In the event
that Executive is terminated by the Company for Cause (as defined below), the
Company’s obligation to make payments hereunder shall cease upon the date of
receipt by Executive of written notice of such termination (the “Termination Date”), except the Company
shall pay Executive any salary earned but unpaid prior to the Termination Date,
any benefits accrued prior to termination, all accrued but unused vacation and
any business expenses that were incurred but not reimbursed as of the date of
termination.  Vesting of all options
shall cease on the Termination Date.

 

(d)                                  Termination
by the Company without Cause or for Good Reason.  In the event Executive’s employment is
terminated without Cause (as defined herein) or due to death or disability (as
provided in Section 10(a)) or Executive resigns for Good Reason (as
defined herein) and upon the execution of a Release by Executive and written acknowledgment
of Executive’s continuing obligations under the Proprietary Information
Agreement, Executive shall be entitled to receive the equivalent of six (6) months
of his Base Salary as in effect immediately prior to the termination date,
payable on the same basis and at the same time as previously paid and subject
to employment tax withholdings and deductions, commencing on the first
regularly scheduled pay date following the Effective Date of the Release.  Provided that Executive is eligible for and timely
elects continuation of his health insurance pursuant to COBRA, for a period of six
(6) months following a termination without Cause, the Company shall
also reimburse Executive for the cost of COBRA premiums to be paid in order for
Executive to maintain medical insurance coverage that is substantially
equivalent to that which Executive received immediately prior to the
termination provided, however, that
the Company’s obligation to pay Executive’s COBRA premiums will cease
immediately in the event Executive becomes eligible for group health insurance
during the six (6) month period, and Executive hereby agrees
to promptly notify the Company if he becomes eligible to be covered by group
health insurance in such event (the salary continuation and COBRA reimbursement
are collectively referred to as the “Severance
Benefits”).

 

(e)                                  Definition of Cause.  For purposes of
this Agreement, “Cause” means (i) the Executive’s incompetence
or failure or refusal to perform satisfactorily any duties reasonably required
of the Executive by the Company (other than by reason of Disability); (ii) the
Executive’s violation of any law, rule or regulation (other than traffic
violations, misdemeanors or similar offenses) or cease-and-desist order, court
order, judgment, regulatory directive or agreement; (iii) the commission
or omission of or engaging in any act or practice which constitutes a material
breach of the Executive’s fiduciary duty to the Company, involves personal
dishonesty on the part of the Executive or demonstrates a willful or continuing
disregard for the best interests of the Company; or (iv) the Executive’s
engaging in dishonorable or disruptive behavior, practices or acts which would
be reasonably expected to harm or bring disrepute to the Company, its business
or any of its customers, Executives or vendors.

 

(f)                                    Definition of Good Reason.  For purposes of
this Agreement, “Good Reason” means that one or more of the following is
undertaken without Executive’s express written consent: (i) a reduction in
Executive’s Base Salary, bonus (if any) or benefits that would substantially
diminish the aggregate value of Executive’s compensation and benefits without
Executive’s consent; or (ii) the assignment to Executive of duties that
are substantially and 

 

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materially inconsistent
with the position held by Executive prior to the Change in Control and that are
not a reasonable advancement of Executive’s position within the Company.

 

11.                               CHANGE IN CONTROL BENEFITS.

 

(a)                                  Change of Control Termination.  If within the
thirteen (13) months immediately following a Change in Control or the one (1) month
immediately preceding a Change in Control: 
(i) Executive is involuntarily terminated by the Company (or its
successor entity) other than for Cause or (ii) Executive voluntarily
terminates his employment with the Company (or its successor entity) for Good
Reason (either constituting a “Change of
Control Termination”), and in each case Executive signs a Release
and written acknowledgment of Executive’s continuing obligations under the
Proprietary Information Agreement, Executive shall be entitled to the
equivalent of six (6) months of his Base Salary as in effect
immediately prior to the Change of Control Termination Date, payable on the
same basis and at the same time as previously paid and subject to employment
tax withholdings and deductions, commencing on the first regularly scheduled
pay date following the Effective Date of the Release.  Provided that Executive is eligible for and timely
elects continuation of his health insurance pursuant to COBRA, for a period of six
(6) months following a Change in Control Termination, the Company
shall also reimburse Executive for the cost of COBRA premiums to be paid in
order for Executive to maintain medical insurance coverage that is
substantially equivalent to that which Executive received immediately prior to
the termination provided, however, that
the Company’s obligation to pay Executive’s COBRA premiums will cease
immediately in the event Executive becomes eligible for group health insurance
during the six (6) month period, and Executive hereby agrees
to promptly notify the Company if he becomes eligible to be covered by group
health insurance in such event (the salary continuation and COBRA reimbursement
are collectively referred to as the “Change in Control Severance Benefits”).

 

In
addition, the Company will vest one-hundred percent (100%) of the
shares subject to Executive’s options and such vesting shall occur upon the
occurrence of the Change of Control in the case of a Change of Control
Termination occurring prior to the Change in Control or upon termination in the
case of a Change of Control Termination occurring after the Change of Control.  All
other terms and conditions set forth in the options, the Plan, and the
applicable stock option agreements shall remain in full force and effect.

 

(b)                                  Definition
of Change in Control.  For
purposes of this Agreement, “Change of Control”
of the Company has the same definition as set forth in the Company’s 2009
Equity Incentive Plan.

 

12.                               CODE SECTION 409A
COMPLIANCE.  Because of
the uncertainty of the application of Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”), to payments pursuant to this Agreement,
including, without limitation, payments pursuant to Sections 11 and 12 hereof,
Executive agrees that if any such payments are subject to the provisions of Section 409A
of the Code by reason of this Agreement, or any part thereof, being considered
a “nonqualified deferred compensation plan” pursuant to Section 409A of
the Code, then such payments shall be made in accordance with, and this
Agreement automatically shall be amended to comply with, Section 409A of
the Code, including, without limitation, any necessary 

 

5

 

delay of six (6) months applicable to payment
of deferred compensation to a “specified Executive” (as defined in Section 409A(2)(B)(i) of
the Code) upon separation from service. In the event that a six month delay is
required, on the first regularly scheduled pay date following the conclusion of
the delay period the Executive shall receive a lump sum payment in an amount
equal to six (6) months of Executive’s Base Salary and thereafter, any
remaining Severance Benefits shall be paid on the same basis and at the same
time as previously paid and subject to employment tax withholdings and
deductions.

 

13.                               MISCELLANEOUS.

 

(a)                                  Taxes.  Executive agrees to be
responsible for the payment of any taxes due on any and all compensation, stock
option, or benefit provided by the Company pursuant to this Agreement.  Executive agrees to indemnify the Company and
hold the Company harmless from any and all claims or penalties asserted against
the Company for any failure to pay taxes due on any compensation, stock option,
or benefit provided by the Company pursuant to this Agreement.  Executive expressly acknowledges that the
Company has not made, nor herein makes, any representation about the tax
consequences of any consideration provided by the Company to Executive pursuant
to this Agreement.

 

(b)                                  Modification/Waiver.  This Agreement may not be
amended, modified, superseded, canceled, renewed or expanded, or any terms or
covenants hereof waived, except by a writing executed by each of the parties
hereto or, in the case of a waiver, by the party waiving compliance.  Failure of any party at any time or times to
require performance of any provision hereof shall in no manner affect his or
its right at a later time to enforce the same. 
No waiver by a party of a breach of any term or covenant contained in
this Agreement, whether by conduct or otherwise, in any one or more instances
shall be deemed to be or construed as a further or continuing waiver of
agreement contained in the Agreement.

 

(c)                                  Successors
and Assigns.  This Agreement shall be
binding upon and shall inure to the benefit of any successor or assignee of the
business of the Company.  This Agreement
shall not be assignable by the Executive.

 

(d)                                  Notices.  All notices given hereunder
shall be given by certified mail, addressed, or delivered by hand, to the other
party at his or its address as set forth herein, or at any other address
hereafter furnished by notice given in like manner.  Executive promptly shall notify Company of
any change in Executive’s address.  Each
notice shall be dated the date of its mailing or delivery and shall be deemed
given, delivered or completed on such date.

 

(e)                                  Governing
Law; Personal Jurisdiction and Venue.  This Agreement and all
disputes relating to this Agreement shall be governed in all respects by the
laws of the State of Iowa as such laws are applied to agreements between Iowa
residents entered into and performed entirely in Iowa.  The Parties acknowledge that this Agreement
constitutes the minimum contacts to establish personal jurisdiction in Iowa and
agree to Iowa court’s exercise of personal jurisdiction.

 

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(f)                                    Entire
Agreement.  This Agreement together with
the Exhibits A and B attached hereto, set forth the entire agreement and
understanding of the parties hereto with regard to the employment of the
Executive by the Company and supersede any and all prior agreements,
arrangements and understandings, written or oral, pertaining to the subject matter
hereof.  No representation, promise or
inducement relating to the subject matter hereof has been made to a party that
is not embodied in these Agreements, and no party shall be bound by or liable
for any alleged representation, promise or inducement not so set forth.

 

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

 

	
   

  	
  NEWLINK
  GENETICS CORPORATION

  
	
   

  	
   

  
	
   

  	
  /s/
  Nicholas N. Vahanian

  
	
   

  	
  Print
  Name:

  	
  Nicholas
  N. Vahanian

  
	
   

  	
  Its:

  	
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMPLOYEE

  
	
   

  	
   

  
	
   

  	
  /s/
  Gordon Link

  
	
   

  	
  Print
  Name:

  	
  Gordon
  Link

  

 

 

Exhibit A

 

NEWLINK GENETICS CORPORATION

 

EMPLOYEE PROPRIETARY INFORMATION, INVENTIONS,

NON-COMPETITION, AND NON-SOLICITATION AGREEMENT

 

This
Employee Proprietary Information, Inventions, Non-competition, and
Non-solicitation Agreement (“Agreement”) is made in consideration for my
employment or continued employment by NEWLINK GENETICS
CORPORATION (the “Company”), and the compensation now and hereafter
paid to me.  I hereby agree as follows:

 

1.             NONDISCLOSURE.

 

1.1          Recognition of Company’s Rights;
Nondisclosure.  At all
times during my employment and thereafter, I will hold in strictest
confidence and will not disclose, use, lecture upon or publish any of the
Company’s Proprietary Information (defined below), except as such disclosure,
use or publication may be required in connection with my work for the Company,
or unless an officer of the Company expressly authorizes such in writing.  I will obtain Company’s written approval
before publishing or submitting for publication any material (written, verbal,
or otherwise) that relates to my work at Company and/or incorporates any
Proprietary Information.  I hereby assign
to the Company any rights I may have or acquire in such Proprietary Information
and recognize that all Proprietary Information shall be the sole property of
the Company and its assigns.

 

1.2          Proprietary Information.  The term “Proprietary Information”
shall mean any and all confidential and/or proprietary knowledge, data or
information of the Company.  By way of
illustration but not limitation, “Proprietary Information” includes (a) tangible
and intangible information relating to antibodies and other biological
materials, cell lines, samples of assay components, media and/or cell lines and
procedures and formulations for producing any such assay components, media
and/or cell lines, formulations, products, processes, know-how, designs,
formulas, methods, developmental or experimental work, clinical data,
improvements, discoveries, plans for research, new products, marketing and
selling, business plans, budgets and unpublished financial statements,
licenses, prices and costs, suppliers and customers, and information regarding
the skills and compensation of other employees of the Company; (b) trade
secrets, inventions, mask works, ideas, processes, formulas, source and object
codes, data, programs, other works of authorship, know-how, improvements,
discoveries, developments, designs and techniques (hereinafter collectively
referred to as “Inventions”); (c) information regarding plans for
research, development, new products, marketing and selling, business plans,
budgets and unpublished financial statements, licenses, prices and costs,
suppliers and customers; and (d) information regarding the skills and
compensation of other employees of the Company. 
Notwithstanding the foregoing, it is understood that, at all such times, I
am free to use information which is generally known in the trade or industry,
which is not gained as result of a breach of this Agreement, and my own, skill,
knowledge, know-how and experience to whatever extent and in whichever way I
wish.

 

1.3          Third Party Information.  I understand, in addition, that the Company
has received and in the future will receive from third parties confidential or
proprietary information (“Third Party Information”) subject to a duty on the
Company’s part to maintain the confidentiality of such information and to use
it only for certain limited purposes. 
During the term of my employment and thereafter, I will hold Third
Party Information in the strictest confidence and will not disclose to anyone
(other than Company personnel who need to know such information in connection
with their work for the Company) or use, except in connection with my work for
the Company, Third Party Information unless expressly authorized by an officer
of the Company in writing.

 

1.4          No Improper Use of Information of
Prior Employers and Others.  During my employment by the Company I will
not improperly use or disclose any confidential information or trade secrets,
if any, of any former employer or any other person to whom have an obligation
of confidentiality, and I will not bring onto the premises of the Company any
unpublished documents or any property belonging to any former employer or any
other person to whom I 

 

1

 

have an obligation of confidentiality unless
consented to in writing by that former employer or person.  I will use in the performance of my duties
only information which is generally known and used by persons with training and
experience comparable to my own, which is common knowledge in the industry or
otherwise legally in the public domain, or which is otherwise provided or
developed by the Company.

 

2.             ASSIGNMENT
OF INVENTIONS.

 

2.1          Proprietary Rights.  The term “Proprietary Rights”
shall mean all trade secret, patent, copyright, mask work and other
intellectual property rights throughout the world.

 

2.2          Prior Inventions.  Inventions, if any, patented or unpatented,
which I made prior to the commencement of my employment with the Company are
excluded from the scope of this Agreement. 
To preclude any possible uncertainty, I have set forth on Exhibit A
(Previous Inventions) attached hereto a complete list of all Inventions that I
have, alone or jointly with others, conceived, developed or reduced to practice
or caused to be conceived, developed or reduced to practice prior to the
commencement of my employment with the Company, that I consider to be my
property or the property of third parties and that I wish to have excluded from
the scope of this Agreement (collectively referred to as “Prior Inventions”).  If disclosure of any such Prior Invention
would cause me to violate any prior confidentiality agreement, I
understand that I am not to list such Prior Inventions in Exhibit A but am
only to disclose a cursory name for each such invention, a listing of the
party(ies) to whom it belongs and the fact that full disclosure as to such
inventions has not been made for that reason. 
A space is provided on Exhibit A for such purpose.  If no such disclosure is attached, I
represent that there are no Prior Inventions. 
If, in the course of my employment with the Company, I incorporate
a Prior Invention into a Company product, process or machine, the Company is
hereby granted and shall have a nonexclusive, royalty-free, irrevocable,
perpetual, worldwide license (with rights to sublicense through multiple tiers
of sublicensees) to make, have made, modify, use and sell such Prior
Invention.  Notwithstanding the foregoing, I
agree that l will not incorporate, or permit to be incorporated, Prior
Inventions in any Company Inventions without the Company’s prior written
consent.

 

2.3          Assignment of Inventions.  Subject to Sections 2.4, and 2.6, I
hereby assign and agree to assign in the future (when any such Inventions or
Proprietary Rights are first reduced to practice or first fixed in a tangible
medium, as applicable) to the Company all my right, title and interest in and
to any and all Inventions (and all Proprietary Rights with respect thereto) whether
or not patentable or registrable under copyright or similar statutes, made or
conceived or reduced to practice or learned by me, either alone or jointly with
others, during the period of my employment with the Company.  Inventions assigned to the Company, or to a
third party as directed by the Company pursuant to this Section 2, are
hereinafter referred to as “Company Inventions.”

 

2.4          Nonassignable Inventions.  I recognize that, in the event of a
specifically applicable state law, regulation, rule, or public policy (“Specific
Inventions Law”), this Agreement will not be deemed to require assignment of
any invention which qualifies fully for protection under a Specific Inventions
Law by virtue of the fact that any such invention was, for example, developed
entirely on my own time without using the Company’s equipment, supplies,
facilities, or trade secrets and neither related to the Company’s actual or
anticipated business, research or development, nor resulted from work performed
by me for the Company.  In the absence of
a Specific Inventions Law, the preceding sentence will not apply.

 

2.5          Obligation to Keep Company
Informed.  During the
period of my employment and for six months after the last day of my employment
with the Company, I will promptly disclose to the Company fully and in
writing all Inventions authored, conceived or reduced to practice by me, either
alone or jointly with others.  In
addition, I will promptly disclose to the Company all patent applications
filed by me or on my behalf within a year after termination of employment.  At the time of each such disclosure, I
will advise the Company in writing of any Inventions that I believe fully
qualify for protection under the provisions of a Specific Inventions Law; and I
will at that time provide to the Company in writing all evidence necessary to
substantiate that belief.  The Company
will keep in confidence and will not use for any purpose or disclose to third
parties without my consent any confidential information disclosed in writing to
the Company pursuant to this Agreement relating to Inventions that qualify
fully for protection under a Specific Inventions Law.  I will preserve the confidentiality of 

 

2

 

any Invention that does not fully qualify for
protection under a Specific Inventions Law.

 

2.6          Government or Third Party.  I also agree to assign all my right, title
and interest in and to any particular Invention to a third party, including
without limitation the United States, as directed by the Company.

 

2.7          Works for Hire.  I acknowledge that all original works of
authorship which are made by me (solely or jointly with others) within the
scope of my employment and which are protectable by copyright are “works made
for hire,” pursuant to United States Copyright Act (17 U.S.C., Section 101).

 

2.8          Enforcement of Proprietary Rights.  I will assist the Company in every proper way
to obtain, and from time to time enforce, United States and foreign Proprietary
Rights relating to Company Inventions in any and all countries.  To that end I will execute, verify and
deliver such documents and perform such other acts (including appearances as a
witness) as the Company may reasonably request for use in applying for,
obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary
Rights and the assignment thereof.  In
addition, I will execute, verify and deliver assignments of such
Proprietary Rights to the Company or its designee.  My obligation to assist the Company with
respect to Proprietary Rights relating to such Company Inventions in any and
all countries shall continue beyond the termination of my employment, but the
Company shall compensate me at a reasonable rate after my termination for the
time actually spent by me at the Company’s request on such assistance.

 

In
the event the Company is unable for any reason, after reasonable effort, to
secure my signature on any document needed in connection with the actions
specified in the preceding paragraph, I hereby irrevocably designate and
appoint the Company and its duly authorized officers and agents as my agent and
attorney in fact, which appointment is coupled with an interest, to act for and
in my behalf to execute, verify and file any such documents and to do all other
lawfully permitted acts to further the purposes of the preceding paragraph with
the same legal force and effect as if executed by me.  I hereby waive and quitclaim to the Company
any and all claims, of any nature whatsoever, which I now or may hereafter have
for infringement of any Proprietary Rights assigned hereunder to the Company.

 

3.             NO
CONFLICTS OR SOLICITATION.  I
acknowledge that during my employment I will have access to and knowledge of
Proprietary Information.  To protect the
Company’s Proprietary Information, I agree that during the period of my
employment by the Company I will not, without the Company’s express written
consent, engage in any other employment or business activity directly related
to the business in which the Company is now involved or becomes involved, nor
will I engage in any other activities which conflict with my obligations to the
Company.  For the period of my employment
by the Company and continuing until one year after my last day of employment
with the Company, I will not (a) directly or indirectly induce any
employee of the Company to terminate or negatively alter his or her
relationship with the Company or (b) solicit the business of any client or
customer of the Company (other than on behalf of the Company) or (c) induce
any supplier, vendor, consultant or independent contractor of the Company to
terminate or negatively alter his, her or its relationship with the
Company.  If any restriction set forth in
this Section is found by any court of competent jurisdiction to be
unenforceable because it extends for too long a period of time or over too
great a range of activities or in too broad a geographic area, it shall be
interpreted to extend only over the maximum period of time, range of activities
or geographic area as to which it may be enforceable.

 

4.             COVENANT
NOT TO COMPETE.  I
acknowledge that during my employment I will have access to and knowledge of
Proprietary Information.  To protect the
Company’s Proprietary Information, I agree that during my employment with
the Company whether full-time or half-time and for a period of one year after
my last day of employment with the Company, I will not directly or
indirectly engage in (whether as an employee, consultant, proprietor, partner,
director or otherwise), or have any ownership interest in, or participate in
the financing, operation, management or control of, any person, firm,
corporation or business that engages in a “Restricted Business” in a “Restricted
Territory” (as defined below).  It is
agreed that ownership of (i) no more than one percent (1%) of the
outstanding voting stock of a publicly traded corporation, or (ii) any
stock I presently own shall not constitute a violation of this provision.

 

4.1          Reasonable.  I agree and acknowledge that the time
limitation on the restrictions in this paragraph, combined with the geographic
scope, is reasonable.  I also acknowledge
and agree that this 

 

3

 

paragraph is reasonably necessary for the protection
of Company’s Proprietary Information as defined in paragraph 1.2 herein, that
through my employment I shall receive adequate consideration for any loss of
opportunity associated with the provisions herein, and that these provisions
provide a reasonable way of protecting Company’s business value which will be
imparted to me.  If any restriction set
forth in this paragraph 4 is found by any court of competent jurisdiction to be
unenforceable because it extends for too long a period of time or over too
great a range of activities or in too broad a geographic area, it shall be
interpreted to extend only over the maximum period of time, range of activities
or geographic area as to which it may be enforceable.

 

4.2          As used herein, the terms:

 

(i)            “Restricted Business” shall
mean any business engaged in areas similar to those the Company is pursuing,
including but not limited to: [add description]
and companies engaged in substantially similar development or commerce that
competes with, or is perceived to be a competitor of, the Company’s products or
services, whether current or planned.

 

(ii)           “Restricted Territory” shall
mean any state, county, or locality in the United States in which the Company
conducts business and any other country, city, state, jurisdiction, or
territory in which the Company does business.

 

5.             RECORDS.  I agree to keep and maintain adequate and
current records (in the form of notes, sketches, drawings and in any other form
that may be required by the Company) of all Proprietary Information developed
by me and all Inventions made by me during the period of my employment at the
Company, which records shall be available to and remain the sole property of
the Company at all times.

 

6.             NO
CONFLICTING OBLIGATION.  I
represent that my performance of all the terms of this Agreement and as an
employee of the Company does not and will not breach any agreement to keep in
confidence information acquired by me in confidence or in trust prior to my
employment by the Company.  I have not
entered into, and I agree I will not enter into, any agreement either written
or oral in conflict herewith.

 

7.             RETURN
OF COMPANY MATERIALS.  When I
leave the employ of the Company, I will deliver to the Company any and all
drawings, notes, memoranda, specifications, devices, formulas, and documents,
together with all copies thereof, and any other material containing or
disclosing any Company Inventions, Third Party Information or Proprietary
Information of the Company.  I further
agree that any property situated on the Company’s premises and owned by the
Company, including disks and other storage media, filing cabinets or other work
areas, is subject to inspection by Company personnel at any time with or
without notice.

 

8.             LEGAL
AND EQUITABLE REMEDIES. 
Because my services are personal and unique and because I may have
access to and become acquainted with the Proprietary Information of the
Company, the Company shall have the right to enforce this Agreement and any of
its provisions by injunction, specific performance or other equitable relief,
without bond and without prejudice to any other rights and remedies that the
Company may have for a breach of this Agreement.

 

9.             NOTICES.  Any notices required or permitted hereunder
shall be given to the appropriate party at the address specified below or at
such other address as the party shall specify in writing.  Such notice shall be deemed given upon
personal delivery to the appropriate address or if sent by certified or
registered mail, three days after the date of mailing.

 

10.          NOTIFICATION OF NEW EMPLOYER.  In the event that I leave the employ of the
Company, I hereby consent to the notification of my new employer of my
rights and obligations under this Agreement.

 

11.          GENERAL PROVISIONS.

 

11.1        Governing Law; Consent to
Personal Jurisdiction and Exclusive Forum.  This Agreement will be governed by and
construed according to the laws of the State of Iowa as such laws are applied
to agreements entered into and to be performed entirely within Iowa between
Iowa residents.  I hereby expressly
understand and consent that my employment is a transaction of business in the
State of Iowa and constitutes the minimum contacts necessary to make me subject
to the personal jurisdiction of the federal courts located in the State of
Iowa, and the state courts located in the County of Story, Iowa, for any
lawsuit filed against me by Company arising from or related to this
Agreement.  I agree and acknowledge that
any controversy arising out of or relating to this Agreement or the breach
thereof, or any claim or action to enforce this 

 

4

 

Agreement or portion thereof, or any controversy or
claim requiring interpretation of this Agreement must be brought in a forum
located within the State of Iowa.  No
such action may be brought in any forum outside the State of Iowa.  Any action brought in contravention of this
paragraph by one party is subject to dismissal at any time and at any stage of
the proceedings by the other, and no action taken by the other in defending,
counter claiming or appealing shall be construed as a waiver of this right to
immediate dismissal.  A party bringing an
action in contravention of this paragraph shall be liable to the other party
for the costs, expenses and attomey’s fees incurred in successfully dismissing
the action or successfully transferring the action to the federal courts
located in the State of Iowa, or the state courts located in the County of
Story, Iowa.

 

11.2        Severability.  In case any one or more of the provisions
contained in this Agreement shall, for any reason, be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect the other provisions of this Agreement, and
this Agreement shall be construed as if such invalid, illegal or unenforceable provision
had never been contained herein.  If
moreover, any one or more of the provisions contained in this Agreement shall
for any reason be held to be excessively broad as to duration, geographical
scope, activity or subject, it shall be construed by limiting and reducing it,
so as to be enforceable to the extent compatible with the applicable law as it
shall then appear.

 

11.3        Successors and Assigns.  This Agreement will be binding upon my heirs,
executors, administrators and other legal representatives and will be for the
benefit of the Company, its successors, and its assigns.

 

11.4        Survival.  The provisions of this Agreement shall
survive the termination of my employment and the assignment of this Agreement
by the Company to any successor in interest or other assignee.

 

11.5        Employment.  I agree and understand that my employment is
at-will which means I or the company each have the right to terminate my
employment at will, with or without advanced notice and with or without cause.  I further agree and understand that nothing
in this Agreement shall confer any right with respect to continuation of
employment by the Company, nor shall it interfere in any way with my right or
the Company’s right to terminate my employment at any time, with or without
cause.

 

11.6        Waiver.  No waiver by the Company of any breach of
this Agreement shall be a waiver of any preceding or succeeding breach.  No waiver by the Company of any right under
this Agreement shall be construed as a waiver of any other right.  The Company shall not be required to give
notice to enforce strict adherence to all terms of this Agreement.

 

11.7        Entire Agreement.  The obligations pursuant to Sections 1
through 4 and Sections 6 and 7 (including all subparts) of this Agreement shall
apply to any time during which I was previously employed, or am in the future
employed, by the Company as a consultant if no other agreement governs
nondisclosure and assignment of inventions during such period.  This Agreement is the final, complete and
exclusive agreement of the parties with respect to the subject matter hereof
and supersedes and merges all prior discussions between us.  No modification of or amendment to this
Agreement, nor any waiver of any rights under this Agreement, will be effective
unless in writing and signed by the party to be charged.  Any subsequent change or changes in my
duties, salary or compensation will not affect the validity or scope of this
Agreement

 

This
Agreement shall be effective as of the first day of my employment with the
Company, namely: 
                    ,        .

 

I HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS.   I HAVE COMPLETELY FILLED OUT EXHIBIT A
TO THIS AGREEMENT.

 

 

	
  Dated:

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   /s/
  Gordon Link

  	
   

  
	
  Signature

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   Gordon
  Link

  	
   

  
	
  Printed
  Name

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  ACCEPTED
  AND AGREED TO:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

5

 

EXHIBIT A

 

	
  TO:

  	
  NewLink
  Genetics Corporation

  	
   

  
	
   

  	
   

  	
   

  
	
  FROM:

  	
  Gordon
  Link

  	
   

  
	
   

  	
   

  	
   

  
	
  DATE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SUBJECT:

  	
  Previous
  Inventions

  	
   

  

 

1.             Except as
listed in Section 2 below, the following is a complete list of all
inventions or improvements relevant to the subject matter of my employment by NewLink Genetics Corporation that have been made or
conceived or first reduced to practice by me alone or jointly with others prior
to my engagement by the Company:

 

x           No inventions
or improvements.

 

o            See below:

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

o            Additional
sheets attached.

 

2.             Due to a prior
confidentiality agreement, I cannot complete the disclosure under Section 1
above with respect to inventions or improvements generally listed below, the
proprietary rights and duty of confidentiality with respect to which I owe to
the following party(ies):

 

	
   

  	
   

  	
  Invention or Improvement

  	
   

  	
  Party(ies)

  	
   

  	
  Relationship

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

o            Additional sheets
attached.

 

A-1

 

EXHIBIT B

 

RELEASE

 

In
exchange for the consideration provided to me by this Agreement that I am not
otherwise entitled to receive, I hereby generally and completely release
the Company and its directors, officers, Executives, shareholders, partners,
agents, attorneys, predecessors, successors, parent and subsidiary entities,
insurers, affiliates, and assigns from any and all claims, liabilities and
obligations, both known and unknown, that arise out of or are in any way
related to events, acts, conduct, or omissions related to my employment with
the Company or the termination of that employment, including, but not limited
to: (1) all claims related to my compensation or benefits from the
Company, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any
other ownership interests in the Company; (2) all claims for breach of
contract, wrongful termination, and breach of the implied covenant of good
faith and fair dealing; (3) all tort claims, including claims for fraud,
defamation, emotional distress, and discharge in violation of public policy;
and (4) all federal, state, and local statutory claims, including claims
for discrimination, harassment, retaliation, attorneys’ fees, or other claims
arising under the federal Civil Rights Act of 1964 (as amended), the federal
Americans with Disabilities Act of 1990, the federal Age Discrimination in
Employment Act of 1967 (as amended) (“ADEA”), and the Iowa state law (as
amended).  Notwithstanding the foregoing, nothing
contained in this Release is intended to release the Company from any claim
arising out of or with regard to: (i) any payment to be made to me by the Company
in connection the termination of employment as contemplated by the Employment
Agreement, or (ii) any statutory obligation that the Company may have with
regard to the continuation of benefits.

 

[IF
APPLICABLE] ADEA Waiver and Release.  I acknowledge that I am knowingly and
voluntarily waiving and releasing any rights I may have under the ADEA, as
amended.  I also acknowledge that the
consideration given for the waiver and release in the preceding paragraph hereof
is in addition to anything of value to which I was already entitled.  I further acknowledge that I have been
advised by this writing, as required by the ADEA, that:  (a) my waiver and release does not apply
to any rights or claims that may arise after the execution date of this
Agreement; (b) I have been advised that I have the right to consult with
an attorney prior to executing this Agreement; (c) I have been given
twenty-one (21) days to consider this Agreement; (d) I have seven (7) days
following the execution of this Agreement by the parties to revoke the
Agreement; and (e) this Agreement will not be effective until the date
upon which the revocation period has expired, which will be the eighth day
after this Agreement is executed by you, provided that the Company has also
executed this Agreement by that date (“Effective Date”).  The parties acknowledge
and agree that revocation by you of the ADEA Waiver and Release is not
effective to revoke your waiver or release of any other claims pursuant to this
Agreement.

 

 

	
  By:

  	
   

  	
   

  	
  Date:

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