SEC Contract Filing

Filing Date: 2017-03-24

Document Content:
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<TYPE>EX-10.26
<SEQUENCE>2
<FILENAME>ex1026ctofferletter.htm
<DESCRIPTION>EX-10.26
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 <title>Exhibit</title>
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<div><a name="s1353c21c8707412697b2f44f74bffe95"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 21, 2014</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Charles Tribie</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5151 Edloe Street, Apt. 5101</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Houston, Texas 77005</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dear Charles:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Apollo Endosurgery, Inc. (&#8220;Apollo&#8221; or the &#8220;Company&#8221;) is extremely pleased to provide an offer of employment with our company in the position of Executive Vice President of Operations. This offer letter supersedes all other communications verbal or written. We expect that your employment as a full-time employee with the Company will start on or about </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">April 15, 2014</font><font style="font-family:inherit;font-size:10pt;">, subject to your approval of the terms hereof. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As an Executive Vice President of Operations, you will report to Apollo&#8217;s Chief Executive Officer and you shall have duties and authority as are customarily performed by an Executive Vice President of Operations of a company similar in size and business as Apollo Endosurgery. You will be responsible for working in adherence to Apollo&#8217;s quality systems including completing new hire training within 90 days of employment and additional training within the timelines and standards of Apollo&#8217;s training policies. Your responsibilities may be adjusted by your supervisor from time to time. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a full-time Apollo employee, you will receive the following:</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:84px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Salary:</font><font style="font-family:inherit;font-size:10pt;">&#32;Upon employment, you will receive a starting salary of $11,875.00 per pay period (before applicable withholding and taxes) as your base salary to be paid on the Company&#8217;s regular paydays on a semi-monthly basis. </font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:84px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:84px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Annual Bonus:</font><font style="font-family:inherit;font-size:10pt;">&#32;You will be eligible to receive an annual target bonus of up to 35% of your then current base salary, payable in accordance with the Company&#8217;s standard policies and practices. Your first-year bonus will be prorated for partial year employment. In addition, you will be eligible for an accelerated bonus of up to a maximum of 70% of your base salary for exceeding corporate objectives as approved by the Board of Directors during the calendar years 2014, 2015 and 2016. Your annual bonus will be based upon mutually agreed upon milestones and other relevant criteria; however, the decision of whether or not such criteria have been achieved will be at the sole discretion of management. Please note that the determination to pay annual bonuses each year is solely within the discretion of the Board of Directors of the Company. </font></div></td></tr></table><div style="line-height:12