SEC Contract Filing

Filing Date: 2024-12-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_757323.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AVINGER, INC.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>WAIVER </b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>DECEMBER 11, 2024</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Reference is hereby made to that certain change of control and severance agreement, dated as of March 29, 2018, by and between Avinger, Inc. (the &#8220;<i>Company</i>&#8221;) and Jeffrey M. Soinski (the &#8220;<i>Officer</i>&#8221;) (the &#8220;<i>Severance Agreement</i>&#8221;)<i> </i>pursuant to which the Company has agreed to provide the Officer with certain severance payments, reimbursements for COBRA premiums, accelerated vesting of outstanding unvested stock options and restricted stock, and an extension of the post-termination exercise period for any options in connection with a Change of Control (as defined in the Change of Control and Severance Agreement).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Reference is also hereby made to that certain retention bonus agreement, dated as of March 9, 2021, by and between the Company and the Officer (the &#8220;<i>Retention Agreement</i>&#8221;) pursuant to which the Company agreed to pay the Officer an amount equal to 50% of the Officer&#8217;s salary in cash, equity or both, if the Officer remains in good standing in service to the Company as of December 31, 2024 (the &#8220;<i>2024 Retention Bonus Payment</i>&#8221;).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Reference is also hereby made to that certain offer letter agreement, dated as of December 18, 2014, by and between the Company and the Officer (the &#8220;<i>Offer Letter Agreement</i>&#8221;) pursuant to which the Company has agreed to provide the Officer with accelerated vesting of outstanding unvested stock options and restricted stock in connection with a Change in Control or a Change of Control and certain severance payments and reimbursements for COBRA premiums in connection with a termination without Cause (each as defined in the Offer Letter Agreement).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><b>WHEREAS</b>: in connection with a potential liquidation and distribution, the Company may transfer all of its right, title, interest in, and custody and control of, its property to a liquidating trust or an assignee who will liquidate the property and distribute the proceeds to the Company&#8217;s creditors to satisfy its obligations (the &#8220;<i>Transfer</i>&#8221;);</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><b>WHEREAS</b>: under Section 3(b) of the Severance Agreement, the Transfer may be deemed to be a Change of Control;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><b>WHEREAS</b>: Officer desires to waive and forego Officer&#8217;s right and interest in the 2024 Retention Bonus Payment;</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><b>WHEREAS</b>: pursuant to Section 3 of Exhibit A to the Offer Letter Agreement, the Transfer may be deemed a Change in Control or a Change of Control (as defined in the Offer Letter Agreement).</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><b>NOW, THEREFORE, BE IT RESOLVED AND AGREED</b>: that the Officer waives the applicability of Section 3(b) of the Severance Agreement as it relates to the Transfer