Document:

Exhibit

Exhibit 10.4

COMMUNITY HEALTHCARE TRUST
INCORPORATED

FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “First Amendment”) by and between Community Healthcare Trust Incorporated, a Maryland corporation (the “Corporation”), and  LEIGH ANN STACH (“Officer”) is made and entered into as of January 3, 2020 and effective as of January 1, 2020 (the “Effective Date”).
RECITALS
WHEREAS, the Corporation and Officer have entered into that certain Amended and Restated Employment Agreement dated May 1, 2019 (the “Employment Agreement”);
WHEREAS, in a meeting on October 31, 2019, the Board of Directors of the Corporation, at the recommendation of the Compensation Committee of the Corporation, approved a salary adjustment for the Officer through an amendment to the Employment Agreement; and
WHEREAS, pursuant to Section 8.3 of the Employment Agreement, any modification to the Employment Agreement must be in writing and signed by the party against whom enforcement of such modification is sought.
NOW, THEREFORE, in consideration of the foregoing premises, and other good and valuable consideration, the receipt and sufficiency of which are hereby affirmed, the parties hereto agree to the following:
1.    Amendment.  The first sentence of Section 3.1 of the Employment Agreement is hereby deleted and replaced in its entirety by the following:
As payment for the services to be rendered by Officer as provided in Section 1 and subject to the terms and conditions of Section 2, Corporation agrees to pay to Officer a “Base Salary” of $326,800.00 per annum effective as of the Effective Date, payable in 24 equal semi-monthly installments, or in such other periodic installments as mutually agreed to by the Corporation and Officer. 
2.    No Further Amendment; Controlling Instrument.  Except as provided herein, the Employment Agreement shall remain in full force and effect and without other changes.  In the event of a conflict between the terms of this First Amendment and the Employment Agreement, this First Amendment shall control.
3.    Employment Agreement.  From and after the date of this First Amendment, any and all terms referring to the Employment Agreement, as used in all of the documents evidencing the employment of the Officer, shall mean the Employment Agreement as amended by this First Amendment.
4.    Binding Effect.  This First Amendment shall be binding upon the parties, their respective successors, and assigns.
5.    Counterparts.  This First Amendment may be executed in any number of counterparts, each of which will be deemed to be an original.  Any or all counterpart originals may be executed by facsimile signature, each such signature to be deemed an original signature.
    

1

    
IN WITNESS WHEREOF, the parties hereto have executed and delivered this First Amendment as of January 3, 2020, to be effective as of the Effective Date.

	
			
	 
	COMPANY:

	 
	 
	 

	 
	COMMUNITY HEALTHCARE TRUST INCORPORATED

	 
	 
	 

	 
	 
	 

	 
	By:
	/s/ Timothy G. Wallace

	 
	Name:
	Timothy G. Wallace

	 
	Title:
	President and Chief Executive Officer

	 
	 
	 

	 
	 
	 

	 
	OFFICER:

	 
	 
	 

	 
	/s/ Leigh Ann Stach

	 
	Leigh Ann Stach, Executive Vice President and Chief Accounting Officer

2AMENDMENT TO EMPLOYMENT AGREEMENT

 

EXHIBIT 10.1

AMENDMENT TO EMPLOYMENT AGREEMENT

This Amendment (this “Amendment”) effective as of January 1, 2020 to the Employment Agreement, dated December 18, 2009, as amended on January 1, 2011, January 20, 2014, January 11, 2016, April 1, 2016 and January 1, 2017 (the “Employment Agreement”), by and between Heat Biologics, Inc. (the “Company”) and Jeffrey Wolf (“Executive”). Capitalized terms used herein without definition shall have the meanings assigned in the Employment Agreement.  

WHEREAS, Executive was retained under the Employment Agreement by the Corporation to serve as its President and Chief Executive Officer; and 

WHEREAS, in recognition of the hard work and performance by Executive, the Corporation desires to amend the Employment Agreement to increase Executive’s annual base salary. 

NOW THEREFORE, for the mutual promises contained herein and for ten dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend the Employment Agreement as follows: 

1. Amendment. Section 3(a)(i) of the Employment Agreement is hereby deleted and replaced with the following:

“(i) Executive shall receive an annual base salary of Four Hundred Forty Thousand Four Hundred and Sixty  Dollars ($440,406) for the Term (the “Base Salary”), payable semi-monthly, which Base Salary may be reviewed and increased on an annual basis by the Board or a committee thereof to reflect the rate of inflation in effect at such time.”

2. Severability. The provisions of this Amendment are severable and if any part or it is found to be unenforceable the other paragraphs shall remain fully valid and enforceable. 

3. No Other Amendments; Confirmation. All other terms of the Agreement shall remain in full force and effect. The Agreement, as amended by this Amendment, constitutes the entire agreement between the parties with respect to the subject matter thereof. 

4. Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but both of which together shall constitute one and the same instrument.

5. Governing Law. This Amendment is made and shall be construed and performed under the laws of the remaining provisions will nevertheless continue to be valid and enforceable. State of North Carolina without regard to its choice or conflict of law principles and the parties agree to North Carolina as the exclusive venue for any disputes arising hereunder. 

[Signature page follows]

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to Mr. Wolf’s Employment Agreement to be duly executed as of the day and year first above written. 

			
	 
	 
	 

	 

	 

	 

	 

	HEAT BIOLOGICS, INC.

	 

	 

	 

	 

	By: 

	/s/ William Ostrander 

	 

	Name: 

	William Ostrander

	 

	Title: 

	Vice President of Finance

	 

	 

	 

	 

	

/s/ Jeffrey Wolf

	 

	JEFFREY WOLFAMENDMENT TO EMPLOYMENT AGREEMENT

 

EXHIBIT 10.2

AMENDMENT TO EMPLOYMENT AGREEMENT

This Amendment (this “Amendment”) effective as of January 1, 2020 to the Employment Agreement, initially effective as of January 1, 2017 and amended as of June 29, 2017, January 1, 2018 and January 1, 2019 (the “Employment Agreement”), by and between Heat Biologics, Inc. (the “Corporation”) and Jeff T. Hutchins (“Executive”).  Capitalized terms used herein without definition shall have the meanings assigned in the Employment Agreement.  

WHEREAS, Executive was retained under the Employment Agreement by the Corporation to serve as its Chief Scientific Officer and Chief Operating Officer; and 

WHEREAS, in recognition of the hard work and performance by Executive, the Corporation desires to amend the Employment Agreement to increase Executive’s annual base salary. 

NOW THEREFORE, for the mutual promises contained herein and for ten dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend the Employment Agreement as follows:

1.  Amendment.  Section 3(a)(i) of the Employment Agreement is hereby deleted in its entirety and replaced with the following:

“(i)  “Executive shall receive an annual base salary of Three Hundred Fifty Three Thousand Six Hundred Seventy Six Dollars ($353,676) for the Term (the “Base Salary”), payable semi-monthly, which Base Salary may be reviewed and increased on an annual basis by the Board or a committee thereof to reflect the rate of inflation in effect at such time.”

2. Severability. The provisions of this Amendment are severable and if any part or it is found to be unenforceable the other paragraphs shall remain fully valid and enforceable. 

3. No Other Amendments; Confirmation. All other terms of the Agreement shall remain in full force and effect. The Agreement, as amended by this Amendment, constitutes the entire agreement between the parties with respect to the subject matter thereof. 

4. Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but both of which together shall constitute one and the same instrument.

5. Governing Law. This Amendment is made and shall be construed and performed under the laws of the remaining provisions will nevertheless continue to be valid and enforceable. State of North Carolina without regard to its choice or conflict of law principles and the parties agree to North Carolina as the exclusive venue for any disputes arising hereunder. 

[Signature page follows]

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to Dr. Hutchins Employment Agreement to be duly executed as of the day and year first above written. 

			
	 

	

HEAT BIOLOGICS, INC.

	 

	 

	 

	 

	By: 

	/s/ Jeffrey Wolf

	 

	Name: 

	Jeffrey Wolf

	 

	Title: 

	Chief Executive Officer

	 

	 

	 

	 

	 

	 

	 

	/s/ Jeff T. Hutchins

	 

	JEFF T. HUTCHINSAmendment to Offer Letter

 

EXHIBIT 10.3

January 1, 2020

William Ostrander

Vice President of Finance

c/o Heat Biologics, Inc.

627 Davis Drive

Morrisville, North Carolina 27560

Re: Amendment to Offer Letter

Dear Bill:

This Amendment (this “Amendment”), effective as of January 1, 2020, to the offer letter, dated September 23, 2019 (the “Offer Letter”), entered into by and between Heat Biologics, Inc. (the “Company”) and William Ostrander.  

Pursuant to the Offer Letter, you were retained by the Company to serve as its Vice President of Finance.  In recognition of your hard work and performance, the Company desires to amend the Offer Letter in order to increase your annual base salary by 3%.

For the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree to amend the Offer Letter as follows:

The second paragraph of the Offer Letter is hereby deleted in its entirety and replaced with the following two sentences: “As a full-time exempt employee, your base salary will be $226,600 on an annual basis, payable bi-weekly.  You will also be eligible to receive an annual bonus up to 20% of your total annual salary.”

The provisions of this Amendment to the Offer Letter are severable and if any part or it is found to be unenforceable the other paragraphs shall remain fully valid and enforceable.  All other terms of the Offer Letter shall remain in full force and effect. The Offer Letter, as amended by this Amendment, constitutes the entire agreement between the parties with respect to the subject matter thereof. 

This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but both of which together shall constitute one and the same instrument.

			
	 
	 
	 

	Sincerely,

	 

	Agreed and Accepted,

	 

	 

	 

	/s/ Jeffrey Wolf

	 

	/s/ William Ostrander

	Jeffrey Wolf

	 

	William Ostrander

	Chief Executive Officer

	 

	January 1, 2020

	Heat Biologics, Inc.

	 

	Date

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