Document:

EX-10.1

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

Exhibit 10.1 
 SECOND
AMENDMENT TO 
 LOAN AND SECURITY AGREEMENT 

THIS SECOND AMENDMENT to Loan and Security Agreement (this “Amendment”) is entered into as of
September 29, 2015, by and between OXFORD FINANCE LLC, a Delaware limited liability company with an office located at 133 North Fairfax Street, Alexandria, Virginia 22314 (“Oxford”), as collateral agent (in such
capacity, “Collateral Agent”), the Lenders listed on Schedule 1.1 of the Loan Agreement (as defined below) or otherwise party thereto from time to time (each a “Lender” and collectively, the
“Lenders”) including Oxford in its capacity as a Lender and CERUS CORPORATION, a Delaware corporation with offices located at 2550 Stanwell Drive, Concord, CA 94520 (“Borrower”). 

RECITALS 

A. Collateral Agent, Lenders and Borrower have entered into that certain Loan and Security Agreement dated as of June 30, 2014, as
amended by that certain First Amendment to Loan and Security Agreement dated as of January 30, 2015 (as the same may from time to time be amended, modified, supplemented or restated, the “Loan Agreement”). 

B. Lenders have extended credit to Borrower for the purposes permitted in the Loan Agreement.  

C. Borrower has requested that Collateral Agent and Lenders (i) modify the repayment terms and (ii) make certain other
revisions to the Loan Agreement as more fully set forth herein. 
 D. Collateral Agent and Lenders have agreed to modify such
consent and to amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 

AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the
receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1.
Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement. 

2. Amendments to Loan Agreement. 

2.1 Section 2.2 (Term Loans). Section 2.2(b) of the Loan Agreement hereby is amended and restated in its entirety to read as
follows: 
 “(b) Repayment. Borrower shall make monthly payments of interest only commencing on the first
(1st) Payment Date following the Funding Date of each Term Loan, and continuing on the Payment Date of each successive month thereafter through and including the Payment Date immediately
preceding the Amortization Date. Borrower agrees to pay, on the Funding Date of each Term Loan, any initial partial monthly interest payment otherwise due for the period between the Funding Date of such Term Loan and the first Payment Date thereof.
Commencing on the Amortization Date, and continuing on the Payment Date of each month thereafter, Borrower shall make consecutive equal monthly payments of principal and interest, in arrears, to each Lender, as calculated by Collateral Agent (which
calculations shall be deemed correct absent manifest error) based upon: (1) the amount of such Lender’s Term Loan, (2) the effective rate of interest, as determined in Section 2.3(a), and (3) a repayment schedule equal
to (x) if the Amortization Date is July 1, 2016, then thirty-six (36) months and (y) if the Amortization 

 
Date is January 1, 2017, then thirty (30) months. All unpaid principal and accrued and unpaid interest with respect to each Term Loan is due and payable in full on the Maturity Date.
Each Term Loan may only be prepaid in accordance with Sections 2.2(c) and 2.2(d).” 
 2.2 Section 6.2 (Financial
Statements, Reports, Certificates). Section 6.2(b) of the Loan Agreement hereby is amended and restated in its entirety to read as follows: 

“(b) Concurrently with the delivery of the financial statements specified in Section 6.2(a)(i)(x) above but no later
than [ * ] days after the last day of the last month of each fiscal quarter, deliver to each Lender, a duly completed Compliance Certificate signed by a Responsible Officer.” 

2.3 Section 13.1 (Definitions). The following terms and their respective definitions hereby are added or amended and restated in
their entirety, as applicable, to Section 13.1 of the Loan Agreement as follows: 
 “Amortization
Date” is, with respect to each Term Loan, July 1, 2016; provided that if Collateral Agent and Lenders receive evidence, in form and substance reasonably satisfactory to Collateral Agent and Lenders, of the occurrence of the Interest
Only Extension Event, then the “Amortization Date” shall be January 1, 2017.  

“Interest Only Extension Event” is receipt of evidence by, in form and substance reasonably
satisfactory to, Collateral Agent and Lenders, Borrower’s achievement on a consolidated basis of trailing six (6) months’ revenue of at least [ * ] ($[ * ]) for the period ending May 31, 2016.  

“Third Draw Period” is the period commencing on the date of the occurrence of the Term C Loan Revenue
Event and ending on the earlier of (i) June 30, 2016, (ii) the date sixty (60) days after the date of the Term C Loan Revenue Event and (iii) the occurrence of an Event of Default; provided, however, that the Third Draw Period
shall not commence if on the date of the occurrence of the PMA Event an Event of Default has occurred and is continuing; provided further, however, that the Third Draw Period shall not commence if Borrower has not achieved the Term C Loan Revenue
Event for the period otherwise ending immediately prior to the Funding Date of the Term C Loan. 
 3. Limitation of Amendment.

 3.1 The amendments set forth in Section 2 above, are effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Collateral Agent or
any Lender may now have or may have in the future under or in connection with any Loan Document. 
 3.2 This Amendment shall
be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall
remain in full force and effect. 
 4. Representations and Warranties. To induce Collateral Agent and Lenders to enter into
this Amendment, Borrower hereby represents and warrants to Collateral Agent and Lenders as follows: 
 4.1 Immediately after
giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties
relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 

  
 2 

 

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 4.2 Borrower has the power and authority to execute and deliver this Amendment and to
perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3 The organizational documents of
Borrower delivered to Collateral Agent and Lenders on the Effective Date, or subsequent thereto, remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect; 

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, have been duly authorized; 
 4.5 The execution and delivery by Borrower of this
Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction
with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan
Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on Borrower; and 
 4.7 This Amendment has been duly executed and delivered by Borrower and is the binding
obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and
equitable principles relating to or affecting creditors’ rights. 
 5. Counterparts. This Amendment may be executed in
any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

6. Effectiveness. This Amendment shall be deemed effective upon (i) the due execution and delivery to Collateral Agent and Lenders
of this Amendment by each party hereto, (ii) Borrower’s payment to Oxford, of an amendment fee in an amount equal to Fifty Thousand Dollars ($50,000), which may be debited from any of Borrower’s accounts and (iii) Borrower’s
payment of all Lenders’ Expenses incurred through the date of this Amendment. 
 [Balance of Page
Intentionally Left Blank] 

  
 3 

 

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 IN WITNESS WHEREOF, the parties hereto have
caused this Amendment to be duly executed and delivered as of the date first written above. 
 COLLATERAL AGENT AND LENDER: 

OXFORD FINANCE LLC 
  

			
	By:	 	 /s/ Mark Davis

	Name:	 	 Mark Davis

	Title:	 	
Vice President – Finance, Secretary & Treasurer

 BORROWER: 
 CERUS
CORPORATION 
  

			
	By:	 	 /s/ Kevin D. Green

	Name:	 	 Kevin D. Green

	Title:	 	 Vice President Finance and Chief Financial Officer

 [Signature Page to Second Amendment to Loan and Security
Agreement] 

  
 [ * ] = CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN
OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.EX-10.2

 Exhibit 10.2 

May 12, 2015 
 Dear Richard, 

Cerus Corporation is pleased to offer you the position of Chief Medical Officer. This letter embodies the terms of our offer of employment to you. 

As the Chief Medical Officer, your primary responsibility will be overseeing the development of Cerus’ global product portfolio strategy to bring
INTERCEPT products to market in compliance with global regulatory, legislative and medical/ health requirements. You will be responsible for the oversight of corporate medical affairs including: strategy and development of Phase I, II, III,
and IV clinical trials, and medical oversight of commercial products with respect to safety and efficacy for all geographic regions. You will also be responsible for leading and directing the activities of Cerus’ Clinical Research and
Medical Affairs (“CRMA”) department. In this position you will report to Obi Greenman, President and CEO. You will work at our location in Concord, California. Of course, Cerus may change your responsibilities, reporting manager and work
location from time to time, as it deems necessary. 
 You will be paid semi-monthly at the rate of $15,833.34, which calculates to an annual salary of
$380,000 (the quoting of an annual salary is for illustrative purposes only). In addition to your salary, you will be eligible to participate in the Bonus Plan for Senior Management of Cerus Corporation. The maximum target bonus percentage for your
position is 40% of base salary. Finally, Cerus will reimburse you for up to $150,000 for moving associated expenses that are incurred within the first year of employment with the company. See Exhibit A, Relocation Agreement, for related terms and
conditions. 
 In addition to your salary, you will be eligible for all of Cerus’ standard employee benefit plans which include employer subsidized
medical, dental and vision premiums, long term disability, life insurance, a 401(k) plan, and, upon meeting eligibility requirements, participation in Cerus’ Employee Stock Purchase Plan. The Employee Stock Purchase Plan gives employees an
opportunity to obtain an equity position in Cerus Corporation at a favorable price. You will also be eligible for 20 days of vacation per year. You should note that Cerus may modify salaries and benefits from time to time as it deems necessary. 

Subject to the approval of the Cerus Board of Directors, you will receive an option exercisable for 350,000 shares of common stock at an exercise price equal
to the fair market value of such shares at the time of the grant as determined by the Board. The options shall vest as to one eighth of the shares six months after the vesting start date and as to one forty-eighth of the shares each month
thereafter. 

 Normal working hours are from 8:00 a.m. to 5:00 p.m., Monday through Friday. We expect this position to require
travel of up to 50% of your time. As an exempt employee, you will be occasionally asked to work additional hours as required by your assignments. 
 As a
Cerus employee you will be expected to abide by company rules and regulations. You will be specifically required to sign an acknowledgment that you have read and understand the company rules of conduct included in the Cerus Employee Handbook.
Furthermore, you will be expected to sign and comply with a proprietary information and nondisclosure agreement. Such agreements will not preclude you from providing occasional clinical advice to third parties, so long as the interests of such third
parties in no way conflict with the interests of Cerus, such activity does not interfere with the performance of your responsibilities and duties to Cerus and it is clear that such advice is being provided in your individual capacity and not as a
representative of Cerus. 
 In your work for the Company, you will be expected not to make unauthorized use or disclosure of any confidential information or
materials, including trade secrets, of any former employer or other third party to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information generally known and used by persons with training and
experience comparable to your 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. By accepting employment with the Company, you are representing to us
that you will be able to perform your duties within the guidelines set forth in this paragraph. In addition, by signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that might
restrict your activities on behalf of the Company in any manner. 
 As an employee you may terminate employment at any time and for any reason whatsoever
upon notice to Cerus. Although not required, we request that, in the event of resignation, you give the Company at least two weeks’ notice to aid in an orderly transition of your duties and responsibilities. Cerus may terminate your employment
at any time, with or without cause and with or without advance notice. 
 As required by law, this offer is subject to your submission of an I-9 Form
and satisfactory proof of your right to work in the United States no later than three days after your employment begins. In addition, this offer is contingent upon the satisfactory completion of the references and background check previously
discussed with you. 

 If you wish to accept employment at Cerus under the terms set out above, please sign and date this letter, and
return it to me by May 22, 2015. If you accept our offer, your first day of employment will be July 6, 2015. 
 We look forward to your favorable
reply and to a productive and exciting work relationship. 
 Sincerely, 

/s/ Lori L. Roll 
 Lori L. Roll 

Vice President, Administration 
  

							
	Approved and Accepted	  	   /s/ Richard Benjamin
	  	            Date  	 	 May 17, 2015

		  	Richard Benjamin	  		 	

 EXHIBIT A 

CERUS CORPORATION 

RELOCATION AGREEMENT 

Effective upon my date of hire at Cerus, July 6, 2015, I, Richard Benjamin, hereby agree to the following terms and conditions with
respect to all relocation costs paid to me or on my behalf by Cerus Corporation (“Cerus”), whether by reimbursement to me or by direct payment to third parties, in connection with my relocation from Potomac, Maryland to the San Francisco
Bay Area, California (the “Relocation Costs”): 
  

	 	1.	If I remain a full-time Cerus employee for twelve months from the effective date stated above, I shall have no obligation to repay any of the Relocation Costs. 

 

	 	2.	If my employment terminates within one year from the effective date as a result of my resignation or due to a “For Cause” termination, I agree to repay Cerus a portion of the Relocation Costs to be calculated
as follows: 

 For each full month of full-time employment Cerus will forgive 1/12 of my Relocation Costs. The remaining
unforgiven Relocation Costs are due and payable to Cerus immediately upon termination. 
 For the purposes of this Agreement, “For
Cause” shall mean any of the following: (a) you are convicted of any felony or of any crime involving moral turpitude (including a no contest or guilty plea); (b) you participate in any fraud or act of dishonesty against the Company;
(c) you willfully breach your duties to the Company, including insubordination, misconduct, excessive absenteeism, or persistent unsatisfactory performance of job duties; (d) you intentionally damage or willfully misappropriate any
property of the Company; (e) you materially breach any written agreement with the Company (including, but not limited to, the your Proprietary Information Agreement); or (f) you engage in conduct that demonstrates unfitness to serve as
reasonably determined by the Company. 
 Notwithstanding the foregoing, prior to a termination for Cause falling within (iii) or
(vi) of the foregoing Cause definition, the Company must provide you with written notice of the your unsatisfactory conduct and a period of thirty (30) days to cure such conduct, except that such written notice and opportunity to cure are
not required if the conduct is not capable of being cured. 
  

	 	3.	I understand that reimbursements and allowances paid to me or on my behalf as Relocation Costs may be included as a part of my gross income and therefore may be subject to tax. 

 

	 	    	 I also understand that my ability to deduct a portion of my Relocation Costs is subject to specific limits and other IRS requirements, including the
requirement 

	 	
that I must be able to substantiate my expenses by keeping copies of receipts. I understand that if I am audited by the IRS or any state tax agency, I alone and not Cerus will be liable for any
taxes, interest or penalties due if any claimed deductions are denied for any reason, including if I fail to keep copies of receipts. I understand that I cannot rely on Cerus or any officer or employee of Cerus for advice regarding the proper tax
treatment of my Relocation Costs and that I am responsible for obtaining independent advice from my own personal tax advisor. 

  

	 	4.	I understand that nothing in this agreement assures me of a continuing position with the Company, or in any way changes the Company’s right to terminate the employment relationship, as it deems necessary.

  

	 	5.	If I am obligated under this agreement to repay Cerus for Relocation Costs, I hereby authorize Cerus to deduct the entire amount due from my final paycheck, including from any vacation pay or severance payments due.

  

	 	6.	I understand and agree that Cerus will only reimburse me up to a total amount of $150,000.00 (gross) for my relocation-related expenses incurred within 12 months of the start of my full-time employment at Cerus, which
reimbursement will be subject to receipt of substantiating documentation of such expenses. 

  

					
	 /s/ Richard Benjamin
	 		 	 May 17, 2015

	Richard Benjamin	 		 	Date

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