Document:

Document

									
	FOR IMMEDIATE RELEASE		Exhibit 10.2

Olivier A. Filliol
c/o Mettler-Toledo International Inc.
Im Langacher
8606 Greifensee

Zürich, December 14, 2020

Amendment Agreement

between Mettler-Toledo International Inc., Greifensee Branch, Im Langacher, 8606 Greifensee, Switzerland (Company), and Olivier A. Filliol.

This document constitutes a binding agreement amending the current employment agreement (Employment Agreement) concluded between the parties on November 1, 2007. The parties agree following terms and conditions:

						
	End of CEO term
	Mr. Filliol's position as CEO and president of Mettler-Toledo shall end March 31st, 2021. 
As of April 1st, 2021, Mr. Filliol's current full-time employment shall end, and Mr. Filliol shall assume the role of a non-executive director governed by the terms set forth below.

		
	New Role
	Mr. Filliol shall continue to be serving the Company as a non-executive director. Should the annual general meetings in 2021 and 2022 not approve his proposed re-election as a director of the Company, his engagement as per the terms of this agreement shall be extended until December 31, 2022.

In addition to the duties of Mr. Filliol as a non-executive director of the Company, he shall, depending on his availability, advise and support the CEO and the Company as and when required, in particular in the areas of sales and marketing, human resources and investor relations. The Company will provide Mr. Filliol with the administrative, IT and other support necessary to fulfill his role.
		
	Remuneration
	Mr. Filliol's annual remuneration for his role as non-executive director of the Company shall be in line with the compensation otherwise paid to non-executive directors without committee membership. In addition, and irrespective of his re-election as non-executive director of the Company, Mr. Filliol shall benefit from the vesting of existing LTI grants which he received in his capacity as CEO for the full business years 2021 and 2022. Irrespective of Mr. Filliol's continued service as non-executive director of the Company in 2023 and thereafter, the vesting of these LTI grants for 2023 and any year thereafter will terminate without compensation, unless otherwise decided by the board of directors of the Company in its sole discretion.

Mr. Filliol will participate in POBS Plus up to and including March 31, 2021 but not thereafter.

		
	Employee Benefits
	Mr. Filliol shall no longer benefit from employee benefits such as contributions to pension plans, personnel insurance (unless mandatory under applicable law) or the expense allowance as from April 1, 2021.

		
	Non-compete / Non-solicitation
	The existing non-compete and non-solicitation provision as provided in the original employment agreement shall stay in place until December 31, 2023. The Company takes note that Mr. Filliol is currently a non-executive director of a Swiss listed company, plans to assume other board memberships and possibly other employments, and to pursue private interests. The non-compete and non-solicit covenant of the original employment agreement shall apply to all these activities.

		
	Termination
	This amendment agreement shall apply to Mr. Filliol's relationship with the Company as from April 1, 2021 and last until December 31, 2022. The parties can amend or terminate this agreement by mutual agreement at any time. In case of termination by one party, the provisions of Swiss law shall apply.

		

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	Miscellaneous Provisions
	The tax equalization program continues to apply to cash and equity income received as Mettler-Toledo employee, and the separate tax equalization agreement remains valid and in effect so long as such “employee income” exists. 

Mr. Filliol is required to hold 15’000 shares until at least one year following his last day of full-time employment. Thereafter the company’s Director Share Ownership rules apply.

		
	Continuing Effect of Employment Agreement
	Unless otherwise provided by the above provisions, the original employment agreement of November 1, 2007 shall continue to apply.

		
	Applicable Law and Jurisdiction
	This agreement shall be governed by the substantive laws of Switzerland. All disputes arising out of or in connection with this agreement shall be subject to the jurisdiction of the courts of the domicile or place of business of the defendant, or the employee's ordinary place of work.

		
		
		
		
		
		
		

Mettler-Toledo International Inc.                        The Employee

/s/ Robert F. Spoerry               /s/ Christian Magloth                        /s/ Olivier A. Filliol

Robert F. Spoerry                    Christian Magloth                             Olivier A. Filliol
-2-EX-10.1

 Exhibit 10.1 

AGREEMENT FOR TERMINATION OF LEASE 

AND VOLUNTARY SURRENDER OF PREMISES 

This Agreement for Termination of Lease and Voluntary Surrender of Premises (this “Agreement”) is made and entered into as of
December 11, 2020 (“Effective Date”), by and between ARE-MA REGION NO. 20, LLC, a Delaware limited liability company (“Landlord”), and FREQUENCY THERAPEUTICS,
INC., a Delaware corporation (“Tenant”), with reference to the following: 
 RECITALS 

A. Landlord and Tenant are parties to that certain Lease Agreement dated as of August 24, 2016, as amended by that certain Amended and
Restated First Amendment to Lease dated as of January 28, 2020 (as amended, the “Lease”). Pursuant to the Lease, Tenant leases from Landlord certain premises consisting of approximately 17,355 rentable square feet (the
“Premises”) in that certain building located at 19 Presidential Way, Woburn, Massachusetts, as more particularly described in the Lease. 

B. The term of the Lease is scheduled to expire on February 20, 2025. 

C. Tenant and Landlord desire, subject to the terms and conditions set forth below, to accelerate the expiration date of the term of the Lease.

 D. Capitalized terms used herein without definition shall have the meanings defined for such terms in the Lease. 

NOW, THEREFORE, in consideration of the foregoing and of the mutual promises made herein, and for other good and valuable consideration the
receipt of which is hereby acknowledged, Landlord and Tenant agree as follows: 
 1. Termination Date. Landlord and Tenant agree,
subject to the terms and conditions set forth herein, to accelerate the expiration date of the Term of the Lease from February 20, 2025, to March 30, 2021 (the “Termination Date”); provided, however, that Tenant shall have
the right, upon delivery of written notice to Landlord (“Extension Notice”) by no later than January 29, 2021, to extend the Termination Date until June 30, 2021. Tenant shall be required to set forth the new Termination
Date (but in no event later than June 30, 2021) in the Extension Notice, in which case all references in this Agreement to Termination Date shall be the date set forth in such Extension Notice. 

In consideration of Landlord entering into this Agreement, Tenant shall be required to pay to Landlord a lease modification fee as follows:
(i) $100,000 concurrent with Tenant’s delivery of an executed copy of this Agreement to Landlord, and (i) another $100,000 on or before the Termination Date. Tenant acknowledges that the full amount of the lease modification fee shall be
deemed earned by Landlord upon Landlord’s execution of this Agreement and the same shall not be applied against any of Tenant’s other obligations under this Agreement or the Lease. 

If Tenant fails to surrender the Premises as provided for herein by the Termination Date, Tenant shall be deemed to be holding over without
Landlord’s consent and the provisions of Section 8 of the Lease shall apply except that the reference to “150%” is hereby amended to read “200%”. 

2. Base Rent and Operating Expenses. Tenant shall be responsible for the payment of all Base Rent, Operating Expenses and any other
obligations due under the Lease through the Termination Date. Tenant shall not be required to pay Base Rent or Operating Expenses for any period following the Termination Date so long as Tenant surrenders the Premises in strict compliance with this
Agreement and the Lease, and Tenant is not in breach hereof or under the Lease. 

  

					
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 3. Termination and Surrender. Tenant shall voluntarily surrender the Premises on the
Termination Date as provided in this Agreement. Tenant agrees to cooperate reasonably with Landlord in all matters, as applicable, relating to surrendering the Premises in accordance with the surrender requirements and in the condition required
pursuant to the Lease; provided, however, that if the Premises are surrendered on the Termination Date in the same condition as of the Effective Date except for reasonable wear and tear and Tenant’s removal of its personal property without
causing any damage, Landlord shall not require Tenant to make any repairs or alterations to the Premises. After the Termination Date, Tenant shall have no further rights of any kind with respect to the Premises. Notwithstanding the foregoing, as
provided in Section 4 hereof, those provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the Premises and termination of the Lease provided for herein. 

4. No Further Obligations. Landlord and Tenant each agree that the other is excused as of the Termination Date from any further
obligations under the Lease with respect to the Premises, excepting only such obligations under the Lease which are, by their terms, intended to survive termination of the Lease. In addition, nothing herein shall be deemed to limit or terminate any
common law or statutory rights either party may have with respect to the other, including in connection with any hazardous materials or for violations of any governmental requirements or requirements of applicable law. Nothing herein shall excuse
Tenant or Landlord from their respective obligations under the Lease, as modified by this Agreement, prior to the Termination Date. 
 5.
Removal of Personal Property. Any personal property of Tenant remaining in the Premises after the Termination Date is hereby agreed to be abandoned by Tenant and may be disposed of by Landlord, in Landlord’s sole discretion, without
obligation or liability of any kind to Tenant. Notwithstanding anything to the contrary contained in the Lease or this Agreement, Tenant shall be required to surrender the Premises with all fixtures, furniture and equipment currently in place and
with title to the same transferring to Landlord as of the Termination Date, except for any lab benches, lab equipment and AV equipment which were not paid for by Landlord and which are approved in writing by Landlord for removal from the Premises.
For the avoidance of any doubt, any items not on a list approved in writing by Landlord may not be removed by Tenant. 
 6.
Acknowledgment. Each party acknowledges that it has read the provisions of this Agreement, understands them, and is bound by them. Time is of the essence in this Agreement. 

7. No Assignment. Tenant represents and warrants that Tenant has not assigned, mortgaged, subleased, pledged, encumbered or otherwise
transferred any interest in the Lease and that Tenant holds the interest in the Premises as set forth in the Lease as of the date of this Agreement. 

8. No Modification. This Agreement may not be modified or terminated except in writing signed by all parties. 

9. Successors and Assigns. The covenants and agreements herein contained shall inure to the benefit and be binding upon the parties and
their respective successors and assigns. 
 10. Attorneys’ Fees. In the event of a dispute between the parties, the prevailing
party shall be entitled to have its reasonable attorneys’ fees and costs paid by the other party. Each party shall be responsible for its own costs and legal fees in connection with the negotiation, execution and delivery of this Agreement and
the consummation of the transactions contemplated hereby 
 11. Conflict of Laws. This Agreement shall be governed by the laws of the
state in which the Premises are located. 

  

					
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 12. OFAC. Tenant and, to Tenant’s knowledge, all beneficial owners of Tenant are
currently (a) in compliance with and shall at all times during the Term of the Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute,
executive order, or regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of the Lease be listed on, the Specially Designated Nationals and Blocked Persons List, Foreign
Sanctions Evaders List or the Sectoral Sanctions Identifications List, which are all maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or
regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules. 
 13.
Counterparts. This Agreement may be executed in 2 or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic
mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and
effective for all purposes. Electronic signatures shall be deemed original signatures for purposes of this Agreement and all matters related thereto, with such electronic signatures having the same legal effect as original signatures. 

[Signatures are on the next page] 

  

					
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

							
	TENANT:
	
	FREQUENCY THERAPEUTICS, INC.,
	a Delaware corporation
		
	By:	 	 /s/ David L. Lucchino

	Its:	 	 President and Chief Executive Officer

	
	LANDLORD:
	
	 ARE-MA REGION NO. 20, LLC,

a Delaware limited liability company

		
	By:	 	Alexandria Real Estate Equities, L.P.,
		 	a Delaware limited partnership, managing member
			
		 	By:	 	ARE-QRS Corp.,
		 		 	a Maryland corporation, general partner
				
		 		 	By:	 	 /s/ Kristen Childs

		 		 	Its:	 	 Vice President RE Legal Affairs

  

			
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