Document:

Exhibit 10.1

 

Dr.
Philippe Calais

2040
Alta Meadows Lane #1609

Del Ray Beach, Florida 33333

 

April
6, 2019

 

Re:
Interim Chief Executive Officer Agreement Extension

 

Dear
Philippe:

 

Reference
is made to that Interim Chief Executive Officer Agreement (the “Agreement”), dated December 7, 2018, by and between
you and CohBar, Inc. (the “Company”). Capitalized terms used herein but not defined shall the meanings given to such
terms in the Agreement.

 

By
this letter agreement (the “Extension Agreement”), the Company and you agree that Section 1(i) of the Agreement is
hereby amended and restated in its entirety as follows:

 

(i) the
date that is seven (7) months after the Start Date, which shall be automatically extended by successive thirty (30) day periods
unless you or the Company terminates your employment pursuant to Section 6 of this Agreement;

 

The
Company and you further agree that Section 4(f) of the Agreement is hereby amended and restated in its entirety as follows:

 

(f)
Stock Options. Pursuant to the Company’s Amended and Restated 2011 Equity Incentive Plan or a successor plan (the
“Plan”), the Company shall grant you options to purchase up to 96,000 shares of the Company’s common stock at
an exercise price to be determined by the Board of Directors at the time of the grant in accordance with applicable law (the “Initial
Options”). The Initial Options will be subject to the terms of the Plan and will become exercisable over a vesting term
of four (4) months, subject to your continuous employment during such period. Vesting of the Initial Options will commence on
the Start Date will vest in equal monthly installments of 24,000 shares on the same day of each month following the Start Date
such that all shares subject to the award shall be vested and exercisable as of the date that is four (4) months after the Start
Date (the “Initial Option Period”). The terms of the Initial Options shall be governed by the Plan and a Stock Option
Agreement. You acknowledge that the Initial Options do not, and will not, constitute wages or compensation. Unless otherwise provided
in the Plan or required by law, the Board of Directors of the Company shall have sole discretion regarding the exercise price
of the Initial Options and other terms and conditions of the Initial Options grant.

 

     

     

    

 

Further,
pursuant to the Plan, upon the expiration or termination of the term of your employment under this Agreement (except in the case
of termination by the Company for Cause), the Company shall grant you options to purchase up to 24,000 shares of the Company’s
common stock for each full thirty (30) day period you serve as Interim Chief Executive Officer between the expiration of the Initial
Option Period and the Separation Date, at an exercise price to be determined by the Board of Directors at the time of the grant
in accordance with applicable law (the “Subsequent Options”). The Subsequent Options will be subject to the terms
of the Plan and will be immediately vested upon grant. The terms of the Subsequent Options shall be governed by the Plan and a
Stock Option Agreement. You acknowledge that the Subsequent Options do not, and will not, constitute wages or compensation. Unless
otherwise provided in the Plan or required by law, the Board of Directors of the Company shall have sole discretion regarding
the exercise price of the Subsequent Options and other terms and conditions of the Subsequent Options grant.

 

The
Company and you further agree that the second paragraph of Section 6 of the Agreement is hereby amended and restated in its entirety
as follows:

 

If,
prior to the date that is seven (7) months after the Start Date, your employment is terminated by the Company without Cause or
as a result of the hiring of a permanent Chief Executive Officer, then, in addition to payments earned through the Separation
Date: (i) the Company will pay you the amount of your Base Salary as would have been earned had your employment continued until
the date that is seven (7) months after the Start Date and (ii) all unvested Initial Options shall become fully vested and exercisable.
Payments due to you after the Separation Date shall be paid in accordance with the Company's regular payroll practices.

 

Except
to the extent amended hereby, (a) all of the definitions, terms, provisions and conditions set forth in the Agreement are hereby
ratified and confirmed and shall remain in full force and effect, (b) the Agreement shall be read and construed with the amendments
set forth in this Extension Agreement as a single agreement, and (c) the term “Agreement” in the Agreement shall henceforth
be deemed a reference to such agreement as amended by this Extension Agreement.

 

This
Extension Agreement may be signed in counterparts and the counterparts taken together will constitute one agreement. This
Extension Agreement will be governed by and construed in accordance with the laws of the State of California, without giving
effect to any choice of law or conflicting provision or rule.

 

If
this Extension Agreement is acceptable to you, please sign below and return the original, fully executed Extension Agreement to
the Company.

 

    2

     

    

 

	 	 	Sincerely,  
	 	 	 
	 	 	/s/
    Albion Fitzgerald
	 	 	Albion Fitzgerald
	 	 	 
	ACCEPTED AND AGREED:	 	 
	 	 	 
	/s/ Phillipe Calais	 	 
	Phillipe Calais	 	 

 

 

3EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT TO ABL CREDIT AGREEMENT 

THIRD AMENDMENT TO ABL CREDIT AGREEMENT (this “Third Amendment”), dated as of April 8, 2019, among PARTY CITY HOLDINGS
INC., a Delaware corporation (the “Borrower Agent”), PARTY CITY CORPORATION, a Delaware corporation (the “Subsidiary Borrower” and, together with the Borrower Agent, the “Borrowers”), PC
INTERMEDIATE HOLDINGS, INC., a Delaware corporation (“Holdings”), JPMORGAN CHASE BANK, N.A. (“JPM”), as administrative agent (in such capacity, the “Administrative Agent”) and each of the Persons
party hereto as ABL Revolving Lenders. Unless otherwise indicated, all capitalized terms used herein and not otherwise defined shall have the respective meanings provided such terms in the ABL Credit Agreement referred to below (as amended by this
Third Amendment). 
 W I T N E S S E T H: 

WHEREAS, the Borrowers, Holdings, the Administrative Agent, the subsidiaries of the Borrowers from time to time party thereto and each lender
from time to time party thereto (the “Lenders”) have entered into an ABL Credit Agreement, dated as of August 19, 2015 (as amended by that certain First Amendment to ABL Credit Agreement, dated as of August 2, 2018, as
further amended by that certain Second Amendment to ABL Credit Agreement, dated as of March 4, 2019, and as further amended, amended and restated, supplemented or otherwise modified prior to the date hereof, the “ABL Credit
Agreement”); 
 WHEREAS, on the date hereof (prior to giving effect to this Third Amendment), there are outstanding ABL Revolving
Commitments under the ABL Credit Agreement (for purposes of this Third Amendment, herein called the “Existing ABL Revolving Commitments”) in an aggregate principal amount equal to (a) during the period from July 1 through
October 31 in each calendar year, $600,000,000 and (b) during the period from January 1 through June 30 and November 1 through December 31 in each calendar year, $500,000,000; and 

WHEREAS, in accordance with the provisions of Section 9.02(b) of the ABL Credit Agreement, the Loan Parties, the
Administrative Agent and the Lenders party hereto as ABL Revolving Lenders wish to amend the ABL Credit Agreement to remove the “seasonal” component of the Existing ABL Revolving Commitments such that the ABL Revolving Commitments are in
an aggregate principal amount of $600,000,000 year-round and amend certain other provisions of the ABL Credit Agreement as more fully provided herein, on the terms and subject to the conditions set forth herein; 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, it is agreed as follows: 
 SECTION 1. Amendments to Credit Agreement. On the Third Amendment Effective Date:

  

 (a)    Section 1.01 of the Credit Agreement is hereby amended by adding
thereto the following new definition, which definition shall be inserted in proper alphabetical order: 
 ““Third Amendment
Effective Date” means April 8, 2019.” 
 (b)    The definition of “Commitment” in
Section 1.01 of the Credit Agreement is hereby amended by amending and restating such definition in its entirety as follows: 

““Commitment” means, with respect to each Lender, the commitment of such Lender to make ABL Revolving Loans, acquire
participations in Letters of Credit and Swingline Loans, and make Protective Advances hereunder, and to make FILO Loans hereunder, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Revolving Exposure
hereunder, as such commitment may be (a) increased from time to time as a result of a Commitment Increase, (b) reduced from time to time pursuant to Section 2.09 or (c) reduced or increased from time to time
pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Commitment as of the Third Amendment Effective Date is set forth on the Commitment Schedule, or in the
Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. For the avoidance of doubt, as of the Third Amendment Effective Date, (i) the ABL Revolving Commitments shall be in an aggregate principal
amount equal to $600,000,000 and (ii) the FILO Commitments shall be in an aggregate principal amount equal to $40,000,000. The initial aggregate amount of the Lenders’ Commitments on the Third Amendment Effective Date is
$640,000,000.” 
 (c)    Schedule 1.01(a) of the ABL Credit Agreement is hereby amended and restated in its
entirety as set forth in Exhibit A to reflect the Commitments of each ABL Revolving Lender on the Third Amendment Effective Date (immediately after giving effect thereto). 

SECTION 2. Conditions of Effectiveness of this Third Amendment. This Third Amendment shall become effective on the date when the
following conditions shall have been satisfied (such date, the “Third Amendment Effective Date”): 

(a)    the Loan Parties, the Administrative Agent and each ABL Revolving Lender under the ABL Credit
Agreement (prior to giving effect to this Third Amendment) shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered the same to the Administrative Agent; and 

(b)    on the Third Amendment Effective Date and after giving effect to this Third Amendment, (i) no
Default or Event of Default shall have occurred and be continuing and (ii) the Administrative Agent shall have received from the Borrowers a certificate executed by a Responsible Officer of the Borrower Agent, certifying the foregoing and as to
the matters set forth in Section 6 hereof; 
 SECTION 4. Costs and Expenses. Each Borrower hereby
reconfirms its obligations pursuant to Section 9.03 of the Credit Agreement to pay and reimburse the Administrative Agent in accordance with the terms thereof. 

SECTION 5. Remedies. This Third Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the
other Loan Documents. 

  
 2 

 SECTION 6. Representations and Warranties. To induce the Administrative Agent and the
ABL Revolving Lenders to enter into this Third Amendment, each of the Loan Parties represents and warrants to the Administrative Agent and the ABL Revolving Lenders on and as of the Third Amendment Effective Date that, in each case: 

(a)    this Third Amendment has been duly authorized, executed and delivered by it and each of this Third Amendment and
the ABL Credit Agreement (as amended by this Third Amendment) constitute its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium or similar laws of general applicability relating to or limiting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
and 
 (b)    all representations and warranties contained in the Credit Agreement and in the other Loan Documents are
true and correct in all material respects (without duplication of any materiality qualifier therein) with the same effect as though such representations and warranties had been made on the Third Amendment Effective Date (it being understood and
agreed that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct in all material respects (without duplication of any materiality qualifier therein) only as of such specified
date). 
 SECTION 8. Reference to and Effect on the Credit Agreement and the Loan Documents. 

(a)    On and after the Third Amendment Effective Date, each reference in the ABL Credit Agreement to “this
Agreement,” “hereunder,” “hereof” or words of like import referring to the ABL Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Third Amendment. 

(b)    The ABL Credit Agreement and each of the other Loan Documents, as specifically amended by this Third Amendment, are
and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to
secure the payment of all Secured Obligations of the Loan Parties, in each case, as amended by this Third Amendment. 

(c)    The execution, delivery and effectiveness of this Third Amendment shall not, except as expressly provided herein,
operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 

SECTION 9. Governing Law. THIS THIRD AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS THIRD AMENDMENT,
WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
 3 

 SECTION 10. Counterparts. This Third Amendment may be executed in any number of
counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrowers and the Administrative Agent. Delivery by facsimile or electronic transmission of an executed counterpart of a signature page to this Third Amendment shall be effective as delivery of an original
executed counterpart of this Third Amendment. 
 [The remainder of this page is intentionally left blank.] 

 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Third Amendment as of the date first above written. 
  

			
	PC INTERMEDIATE HOLDINGS, INC.
		
	By:	 	/s/ James M. Harrison
	Name:	 	James M. Harrison
	Title:	 	President
	
	PARTY CITY HOLDINGS INC.
		
	By:	 	/s/ James M. Harrison
	Name:	 	James M. Harrison
	Title:	 	Chief Executive Officer and Treasurer
	
	PARTY CITY CORPORATION
	ANAGRAM INTERNATIONAL, INC.
	ANAGRAM INTERNATIONAL HOLDINGS, INC.
	AM-SOURCE, LLC
	AMSCAN INC.
	TRISAR, INC.
	PARTY HORIZON INC.
		
	By:	 	/s/ Michael A. Correale
	Name:	 	Michael A. Correale
	Title:	 	Vice President and Treasurer
	
	ANAGRAM EDEN PRAIRIE PROPERTY HOLDINGS LLC
	
	By: PARTY CITY HOLDINGS INC., its sole member
		
	By:	 	/s/ James M. Harrison
	Name:	 	James M. Harrison
	Title:	 	Chief Executive Officer and Treasurer

 [Signature Page to Third Amendment to ABL Credit Agreement (Party City)] 

 
			
	AMSCAN PURPLE SAGE, LLC
	AMSCAN NM LAND, LLC
	
	By: AMSCAN INC., its sole manger
		
	By:	 	/s/ Michael A. Correale
	Name:	 	Michael A. Correale
	Title:	 	Vice President and Treasurer

 [Signature Page to Third Amendment to ABL Credit Agreement (Party City)] 

 
			
	JPMORGAN CHASE BANK, N.A., as Administrative Agent, Swingline Lender and Issuing Bank
		
	By:	 	/s/ Donna DiForio
	Name:	 	Donna DiForio
	Title:	 	Authorized Officer

 [Signature Page to Third Amendment to ABL Credit Agreement (Party City)] 

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	NAME OF INSTITUTION
	
	 Bank of America, N.A.

as an ABL Revolving Lender

		
	By:	 	/s/ Peter M. Walther
		 	Name: Peter M. Walther
		 	Title:   Senior Vice President

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION as an ABL Revolving Lender

 
			
		
	By:	 	/s/ Jason Shanahan
	Name:	 	Jason Shanahan
	Title:	 	Director

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	NAME OF INSTITUTION
	
	 MUFG Union Bank, N.A.,

as an ABL Revolving Lender

		
	By:	 	/s/ Thomas Kainamura
	Name:	 	Thomas Kainamura
	Title:	 	Director

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	NAME OF INSTITUTION
	
	 TD Bank, NA,
 as
an ABL Revolving Lender

		
	By:	 	/s/ Jennifer Visconti
	Name:	 	Jennifer Visconti
	Title:	 	Vice President

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,

as an ABL Revolving Lender

		
	By:	 	/s/ Carol Anderson
	Name:	 	Carol Anderson
	Title:	 	Vice President

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 Bank of Montreal,

as an ABL Revolving Lender

		
	By:	 	/s/ Kara Goodwin
	Name:	 	Kara Goodwin
	Title:	 	Managing Director

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 City National Bank,

as an ABL Revolving Lender

		
	By:	 	/s/ David Knoblauch
	Name:	 	David Knoblauch
	Title:	 	SVP, City National Bank

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 DEUTSCHE BANK AG NEW YORK BRANCH,

as an ABL Revolving Lender

		
	By:	 	/s/ Marguerite Sutton
	Name:	 	Marguerite Sutton
	Title:	 	Vice President
		
	By:	 	/s/ Alicia Schug
	Name:	 	Alicia Schug
	Title:	 	Vice President

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 BARCLAYS BANK PLC,

as an ABL Revolving Lender

		
	By:	 	/s/ Komal Ramkirath
	Name:	 	Komal Ramkirath
	Title:	 	Assistant Vice President

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as an ABL Revolving Lender

		
	By:	 	/s/ Vipul Dhadda
	Name:	 	Vipul Dhadda
	Title:	 	Authorized Signatory
		
	By:	 	/s/ Joan Park
	Name:	 	Joan Park
	Title:	 	Authorized Signatory

 BY ITS EXECUTION OF THIS SIGNATURE PAGE, THE UNDERSIGNED ABL REVOLVING LENDER HEREBY
CONSENTS TO THE THIRD AMENDMENT TO WHICH THIS SIGNATURE PAGE IS ATTACHED. 
  

			
	 Goldman Sachs Bank USA,

as an ABL Revolving Lender

		
	By:	 	/s/ Mahesh Mohan
	Name:	 	Mahesh Mohan
	Title:	 	Authorized Signatory

 EXHIBIT A 

Schedule 1.01(a) 

COMMITMENT SCHEDULE 
  

					
	Lender	 	ABL Revolving
Commitment	 	FILO
Commitment
	
JPMorgan Chase Bank, N.A.
	 	$103,125,000.00	 	$6,875,000
	
Bank of America, N.A.
	 	$103,125,000.00	 	$6,875,000
	
Wells Fargo Bank, N.A.
	 	$103,125,000.00	 	$6,875,000
	
MUFG Union Bank, N.A.
	 	$53,125,000.00	 	$6,875,000
	
TD Bank, N.A.
	 	$66,250,000.00	 	$3,750,000
	
U.S. Bank National Association
	 	$56,250,000.00	 	$3,750,000
	
Bank of Montreal
	 	$37,500,000.00	 	$2,500,000
	
City National Bank
	 	$37,500,000.00	 	$2,500,000
	
Deutsche Bank AG New York Branch
	 	$10,000,000.00	 	N/A
	
Barclays Bank PLC
	 	$10,000,000.00	 	N/A
	
Credit Suisse AG
	 	$10,000,000.00	 	N/A
	
Goldman Sachs Bank USA
	 	$10,000,000.00	 	N/A
	
Total:
	 	    $600,000,000.00    	 	    $40,000,000.00

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