Document:

nsit-ex101_6.htm

 

Exhibit 10.1

 

		
	
Ergänzungsvereinbarung zum Anstellungsvertrag vom 25.10.2013 und Aufhebungsvereinbarung
	
Amendment to the service contract, dated 25. October 2013 and Wind-up agreement

 

	
Zwischen

 
	
Between

	
Insight GmbH
Parkring 35
85748 Garching
vertreten durch die Gesellschafterversammlung

 
	
Insight GmbH
Parkring 35
85748 Garching
duly represented by the Shareholders’ Meeting

	
– nachstehend: Gesellschaft –

 
	
– hereinafter referred to as „Company“ –

	
Und

 
	
and

	
Herrn Wolfgang Ebermann
Flurstrasse 39

84172 Buch am Erlbach 

 
	
Mr. Wolfgang Ebermann
Flurstrasse 39

84172 Buch am Erlbach 

 

	
– nachstehend: Geschäftsführer –
	
– hereinafter referred to as „Managing Director“ –

 

	
wird zur Beendigung des Anstellungsverhältnisses die nachfolgende Vereinbarung getroffen. 

 

Sofern in dieser Vereinbarung keine abweichenden Regelungen getroffen wurden, gelten im Übrigen die Bedingungen aus dem Anstellungsvertrag vom 25.10.2013 bis zum Beendigungsdatum nach Ziff. 1.1. weiter:

 
	
In order to terminate the service relationship the parties agree as follows. 

 

Unless otherwise agreed in this Agreement, the terms and conditions of the service contract, dated 25.10.2013, shall apply until the termination date according to Section 1.1.:

	
 
	
 

	
1.Beendigung; Amtsniederlegung
	
1.Termination; Resignation from Service

 

	
1.1.Die Parteien sind sich darüber einig, dass das zwischen ihnen bestehende Anstellungsverhältnis vom 25.10.2013 in gegenseitigem Einvernehmen mit Ablauf des 31.03.2023 sein Ende finden wird.

 
	
1.1.The parties are in agreement that their service relationship, dated 25. October 2013 shall terminate effective 31. March 2023 by mutual consent.

	
1.2.Der Geschäftsführer wird sein Amt mit Wirkung zum 31.12.2020 niederlegen.

 
	
1.2.Mr. Ebermann will resign from his position as Managing Director effective 31. December 2020.

	
 
	
 

	
2.Abwicklung des Anstellungsverhältnisses

 
	
2.Winding up of the service contract 

	
2.1.Das Anstellungsverhältnis wird bis zum 31.03.2022 unter Berücksichtigung der nachstehenden Regelungen fortgesetzt. Insbesondere steht dem Geschäftsführer bis zu diesem Zeitpunkt eine regelmäßige Vergütung in Höhe von EUR 400.000,00 brutto p.a., zahlbar in 12 gleichen monatlichen Raten zu je EUR 33.333,33 brutto und Nebenleistungen (wie Dienstfahrzeug, Pauschalbetrag für Direktversicherung, Sozialversicherungsbeiträge, Unfall- und Luftpassagierversicherung) zu. 
	
2.1.Mr. Ebermann’s service relationship will continue until 31. March 2022, in accordance with the regulations set forth hereunder. Particularly, the Managing Director will be entitled to a regular remuneration of EUR 400,000.00 gross p.a. payable in 12 equal monthly instalments of EUR 33,333.33 gross and fringe benefits (such as company car, lump sum taxes for direct life insurance, contributions to social security, accident and flight passenger insurance). 

 

 

 

		
	
Die Parteien sind sich darüber einig, dass weitere Vergütungsansprüche des Geschäftsführers nicht bestehen – mit Ausnahme (i) eines etwaig zur Auszahlung kommenden Bonus für das Geschäftsjahr 2020, welcher entsprechend der durch die Gesellschaft geübten Praxis im Februar 2021 ausgezahlt werden wird, und (ii) einem etwaigen Bonus in Höhe von EUR 50.000,00 brutto bei einer Zielerreichung von 100% für das Geschäftsjahr 2021, abhängig vom Erreichen der finanziellen Ziele (Earnings from Operations – EFO) der Gesellschaft, welcher entsprechend der durch die Gesellschaft geübten Praxis im Februar 2022 ausgezahlt werden wird und die mit den Insight Enterprise EFO-Zielen, die im Februar 2021 festgesetzt werden, identisch sein werden. 

 

Es besteht Einigkeit, dass ein Bonus für die Geschäftsjahre 2022 und 2023 nicht geschuldet ist.

 
	
The parties agree, that further claims for remuneration do not exist – except (i) a potential bonus payment for the Financial Year 2020, which will be paid in February 2021 consistent with the Company’s practice and (ii) a potential bonus payment for the Financial Year 2021 in the amount of EUR 50,000.00 gross in case of a 100% target achievement, which will be paid in February 2022, based on achievement of the Company’s Earnings from Operations (EFO) financial objectives consistent with the Company’s practice and will be identical to the Insight Enterprises EFO target to be set for executive management in February 2021. 

 

 

The parties agree, that no bonus payment for the Financial Years 2022 and 2023 is owed by the Company.

	
2.2.Die Parteien sind sich darüber einig, dass der Geschäftsführer verpflichtet ist, seine Dienste für die Gesellschaft als Chief Global Growth Advisor auf Projektbasis mit einer durchschnittlichen Arbeitswochenzeit von 20 Stunden/Woche bis zum 31.03.2022 zu erbringen.
	
2.2.The parties are in agreement that the Managing Director shall remain obliged to render his services to the Company in the position of a Chief Global Growth Advisor project based with an average weekly workhour of 20 Hrs/week until 31. March 2022. 

 

	
 
	
 

	
3.Ausübung von Restricted Stock Units (RSU’s)
	
3.Vesting of Restricted Stock Units (RSU’s)

 

	
Die Parteien sind sich darüber einig, dass der Geschäftsführer die ihm von der Insight Enterprises Inc. gewährten Restricted Stock Units (RSU’s) nach Maßgabe der jeweils gültigen „Insider Trading Policy“ ausüben kann.

 

Obwohl der Geschäftsführer nicht berechtigt ist, weitere Kapitalbeteiligungen zu erhalten, können seine RSU‘s weiterhin bis zum 31. März 2023 ausgeübt werden.

 
	
The parties agree that the Managing Director shall be entitled to sell the vested Restricted Stock Units (RSU’s) granted to him by Insight Enterprises Inc. in accordance with the respectively valid “Insider Trading Policy”.

 

In addition, although the Managing Director shall not be entitled to receive additional equity awards, his unvested RSU’s will continue to vest through 31. March 2023.

 

 

		
	
 
	
 

	
4.Rückgabe des Dienstfahrzeugs
	
4.Return of the Company Car 

 

	
Das ihm zur Verfügung gestellte Dienstfahrzeug wird der Geschäftsführer spätestens am 31.03.2023 in ordnungsgemäßem Zustand samt aller Schlüssel und Kfz-Papiere an die Gesellschaft an deren Sitz in Garching herausgeben.
	
The Managing Director will return to the Company at its seat in Garching the Company Car which he was provided with no later than 31. March 2023 in proper condition and together with all keys and official papers.

 

	
 
	
 

	
5.Freistellung
	
5.Garden Leave

	
 
	
 

	
5.1.Die Tätigkeit des Geschäftsführers als Strategic Advisor wird mit Ablauf des 31.03.2022 enden. Mit Wirkung ab dem 01.04.2022 wird der Geschäftsführer hiermit unwiderruflich und unter Anrechnung auf etwaige Urlaubs- oder Resturlaubsansprüche von seinen Verpflichtungen zur Erbringung weiterer Dienstleistungen für die Gesellschaft freigestellt. Die Parteien sind sich darüber einig, dass dadurch alle bestehenden und noch entstehenden Urlaubsansprüche des Geschäftsführers abgegolten sind. Die Rechte der Gesellschaft aus § 38 Abs. 1 GmbHG bleiben unberührt.
	
5.1.The Managing Director’s service as Strategic Advisor shall end on 31. March 2022.  With effect of 01. April 2022, the Managing Director is herewith irrevocably released from his duties to render further services to the Company; possible entitlements to vacation or remaining vacation shall be credited during such release period. The Parties are in agreement that any outstanding and arising future vacation entitlements are thereby settled. The Company’s rights under Sec. 38 Para. 1 of the German Act on Limited Liability Companies shall remain unaffected.

	
 
	
 

	
5.2.Während der Dauer der Freistellung hat der Geschäftsführer Anspruch auf eine Vergütung in Höhe seines Grundgehalts von 585.000 Euro zuzüglich eines Bonus, der sich aus dem höheren Wert aus (i) dem Bonus des Geschäftsführers für das Geschäftsjahr 2020 und (ii) dem Durchschnitt der drei letzten Bonuszahlungen des Geschäftsführers (einschließlich des Bonus für das Geschäftsjahr 2020) errechnet. Dieser Betrag ist in 12 gleichen monatlichen Raten während der Zeit seiner Freistellung zu zahlen. Die letzte Rate ist also spätestens am 31.03.2023 fällig und zahlbar. 
	
5.2.During the period of garden leave, the Managing Director shall be entitled to receive remuneration equal to his base salary of 585.000 Euro plus a bonus equal to the higher of (i) the Managing Director’s bonus for the Financial Year 2020 and (ii) the average of the Managing Director’s last three bonuses, including the bonus for the Financial Year 2020 . This amount shall be payable in 12 equal monthly installments through his garden leave period. So, the last instalment is due and payable on 31. March 2023, the latest.

 

	
5.3.Bis zum 31.03.2023 werden

auch die Nebenleistungen enschließlich Dienstfahrzeug, Pauschalbetrag für Direktversicherung, Sozialversicherungsbeiträge, Unfall- und Luftpassagierversicherung weiterhin von der Gesellschaft gewährt.
	
5.3. Until 31. March 2023 all fringe benefits including the company car, lump sum taxes for direct life insurance, contributions to social security, accident and flight passenger insurance shall continue to be provided by the Company.

 

 

		
	
 
	
 

	
6.Rückgabe von Arbeitsmitteln und -unterlagen
	
6.Return of working materials and documents

 

	
Der Geschäftsführer verpflichtet sich, alle in seinem Besitz befindlichen Arbeitsmittel und Arbeitsunterlagen der Gesellschaft einschließlich Kopien hiervon mit dem Tage seiner Freistellung, auf Verlangen der Gesellschaft auch schon vorher, an die Gesellschaft herauszugeben.
	
The Managing Director is obliged to return to the Company all working materials and documents of the Company, including the copies thereof which have been in his possession in connection with his services for the Company upon the day of his release, or earlier if requested by the Company.

 

	
 
	
 

	
7.
Zeugnis
	
7.Reference letter

 

	
Die Gesellschaft wird dem Geschäftsführer auf Verlangen ein sich auf Führung und Leistung während seines Anstellungsverhältnisses erstreckendes wohlwollendes Zeugnis erteilen, das ihn in seinem beruflichen Fortkommen fördert, eine sehr gute Leistungs-, Führungs- und Gesamtbeurteilung sowie eine Schlussformel enthält, die den Dank für die geleistete Arbeit und das Bedauern über das Ausscheiden des Geschäftsführers sowie beste Wünsche für die Zukunft zum Ausdruck bringt.
	
The Company undertakes to issue upon the Managing Director’s request a benevolent reference letter with respect to his conduct and performance during the duration of the service relationship; the letter shall promote the occupational advancement of the Managing Director, shall contain a very good appraisal of his conduct, his leadership qualities and his over-all performance as well as a complimentary close which expresses the Company’s thanks for his services and its regret that he leaves together with best wishes for the future.

 

	
 
	
 

	
8.Kundenschutz und Abwerbung von Mitarbeitern
	
8.Customer Protection and Solicitation of Employees

 

	
Der Kundenschutz und das Abwerbeverbot von Mitarbeitern der Gesellschaft beginnt am 01.04.2023.

 
	
The customer protection and solicitation of employees restrictions shall begin at 01. April 2023.

 

 

/s/ Glynis A. Bryan/s/ Wolfgang Ebermann

_____________________________________________________________________
Signature InsightSignature Wolfgang Ebermann

Date: 12/31/2020Date: 12/23/2020Exhibit 101

		

			Exhibit 10.1

		

		
			           
		

		
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			December 30, 2020
		

		
			James W. Kupiec, MD
		

		
			XXXX
		

		
			XXXX
		

		
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			Via Email: XXX@gmail.com 
		

		
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			Dear Jim:
		

		
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			On behalf of Cassava Sciences, I am pleased to extend you an offer of employment as Chief Clinical Development Officer, initially reporting to me. This letter agreement and its enclosures are intended set forth the terms and conditions of your new employment.    
		

		
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			Your base salary will be three hundred and seventy-five thousand dollars ($375,000) per calendar year, paid bi-monthly. On your start date you will be added as a participant in Cassava Science’s 2020 Cash Incentive Bonus Plan.
		

		
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			Your full-time start date is Monday, January 4, 2021. 
		

		
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			You will initially perform your work responsibilities from your home in Connecticut.  Should you agree to relocate your family to the Austin, Texas area before January 1, 2023, you will receive a one-time, lump-sum amount of thirty-thousand-dollar  ($30,000) as a relocation bonus. This relocation bonus would constitute the entire financial assistance Cassava Sciences would provide for your relocation. Such bonus will be paid to you after your relocation to Austin,  net of any withholdings required by law.  
		

		
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			Other key terms of this offer of employment are outlined below:
		

		
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				 1.
			

			
	
			
			As Chief Clinical Development Officer, you will have broad responsibility for the strategy, design,  conduct and monitoring of clinical research plans and programs.  This is a team-oriented position that will include active participation in on-going and future clinical studies; oversee, identify, monitor and resolve operational aspects of clinical studies; provide scientific & clinical leadership; interpret study data; assist with regulatory documents; and perform other duties as needed by Cassava Sciences and as suited to your expertise, experience and disposition to learn new areas of research.

		
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			An integral part of this position is the ability to travel throughout the United States without personal restrictions. Please inform in writing if you are aware of any restrictions that may impede your ability to engage in air travel from time-to-time.
		

		
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				 2.
			

			
	
			
			Your performance and compensation will be reviewed from time-to-time.

		
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				 3.
			

			
	
			
			From time-to-time you may be eligible to receive a cash bonus, stock options or other types of equity-based compensation based on your participation in meeting corporate objectives and other milestones.

		
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				 4.
			

			
	
			
			You will be eligible to receive medical, life insurance, disability or other health insurance or other benefits provided to our regular full-time employees.  

		
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				 5.
			

			
	
			
			As an Officer of Cassava Sciences, you will not accrue, and Cassava Sciences will not record, any specific amount of vacation time or time off. The ability to take paid time off is not intended to be a form of additional wages for services performed; rather it is part of Cassava Sciences’ effort to provide you with the benefit of a flexible work schedule. You are encouraged to rest & rejuvenate as your work responsibilities allow. There are no consequences for taking time off, or for failing to take time off.

		
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				 6.
			

			
	
			
			Cassava Sciences will promptly reimburse your reasonable business and travel expenses upon submission of written evidence of payment for such expenses.

		
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				 7.
			

			
	
			
			You acknowledge and agree that your employment with Cassava Sciences is for no specified time and constitutes “at-will” employment. As a result, you are free to resign at any time, for any reason. However, in the event of resignation, please provide at least four weeks’ notice in order to effect a smooth transition of the Company’s affairs. Similarly, Cassava Sciences is free to conclude its employment relationship with you at any time. Cassava Sciences reserves the right to make personnel decisions regarding your employment, including but not limited to, promotions, salary adjustment, scope of responsibilities, transfer or termination,  consistent with its needs.

		
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				 8.
			

			
	
			
			In the event your employment with Cassava Sciences is terminated without cause after your initial 6 months of employment, or in the event a “constructive dismissal” occurs at any time during your employment, you will be paid your regular base salary, and you will continue to receive employment benefits, for a period of 3 months following your last date of employment at Cassava Sciences, or the date upon which you commence employment with another entity,  provided, however, you sign and do not revoke an employment separation and release agreement.

		
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				 9.
			

			
	
			
			In the event your employment with Cassava Sciences is terminated without cause after a “Change in Control” (as defined herein) you will be paid your regular base salary, and you will continue to receive employment benefits, for a period of 12 months following your last date of employment at Cassava Sciences. A ‘Change-in-Control’ means the acquisition of 51% or more of Cassava Sciences’ then outstanding shares at the time of a Change-in-Control transaction, provided, however, you sign and do not revoke an employment separation and release agreement, and further provided, however, that for purposes of this Paragraph 9, raising capital through the issuance of equity by the Company shall not constitute a Change-in-Control.

		
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				 10.
			

			
	
			
			You and Cassava Sciences shall attempt in good faith to resolve any dispute or claim arising out of your employment, or its termination, through discussion, evaluation, negotiation and conciliation.  If a dispute cannot be amicably settled within six-weeks from the date on which a party has served written notice to the other party of a dispute, then the matter shall be submitted to binding arbitration before a neutral arbitrator in Texas, except where Texas law specifically forbids the use of arbitration as a final and binding remedy. In the event of arbitration or legal action of any type, each party shall bear its own fees and legal expenses.

		
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				 11.
			

			
	
			
			You understand and agree this is an offer of full-time and exclusive employment for Cassava Sciences. You may not consult or provide professional services, with or without compensation, to any third parties at any time during your employment with Cassava Sciences. If you wish to request consent to provide services (for any or no form of compensation) to any other person or business entity while employed by Cassava Sciences, you must first receive written permission from the CEO of Cassava Sciences, which may be withheld for any reason. It is understood and agreed upon that you currently serve Target ALS Foundation, Inc. as an unpaid consultant, and that you anticipate you will continue to serve Target ALS during your employment.    It is also 
		

		 

		

			Page 2 of 3

		

		

			 

		

 

			understood and agreed that you may continue to serve as a science advisor to ProMIS Neurosciences, Inc. during a transitional period not to exceed three (3) months from January 4, 2021.

		
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				 12.
			

			
	
			
			You warrant and represent that you have no commitments or obligations inconsistent with this offer of employment as of the date of your full-time employment with Cassava Sciences.

		
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				 13.
			

			
	
			
			You agree to review and sign a “CONFIDENTIAL INFORMATION AND INVENTION ASSIGNMENT AGREEMENT” (attached).

		
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			You agree to acknowledge in writing that you have read and understand the Company’s “INSIDER TRADING COMPLIANCE PROGRAM” (attached).

		
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				 15.
			

			
	
			
			This offer expires Friday,  January 1, 2021 unless signed by you and received by Cassava Sciences before then.

		
			If the conditions of this offer and your acceptance are satisfied, this letter shall constitute the full and complete agreement between you and Cassava Sciences regarding the terms and conditions of your employment. This letter cancels, supersedes and replaces any and all prior negotiations, representations or agreements, written and oral, between you and anyone at Cassava Sciences (or its recruiters) regarding any aspect of your employment.  Any change to the terms of your employment with Cassava Sciences, as set forth in this letter, must be made in writing to you, signed by the CEO of Cassava Sciences, to be effective.
		

		
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			If these terms and condition of employment, and the attached enclosures,  are acceptable to you, please sign, date and return one original copy.
		

		
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			Jim, we very much look forward to working with you!
		

		
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			__/s/ REMI BARBIER__________
		

		
			Remi Barbier
		

		
			Chairman of the Board
		

		
			President & CEO
		

		
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			I  have read, understood and agreed to all the terms and conditions of employment set forth in this letter of employment and the attached Confidential Information and Invention Agreement and Insider Trading Compliance Program.
		

		
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			___/s/ JAMES KUPIEC_________            _December 30, 2020__
		

		
			James (Jim) W. Kupiec, MD                           Date
		

		
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			Enclosures:
		

		
			Confidential Information and Invention Agreement
		

		
			2020 Cash Incentive Bonus Plan
		

		
			Benefits Summary
		

		
			Insider Trading Compliance Program
		

		
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			Cc: Compensation Committee of the Board of Directors (S. Robertson and B. Gussin)
		

		 

		

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