SEC Contract Filing

Filing Date: 2018-09-25

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex10x4.htm
<DESCRIPTION>EXHIBIT 10.4
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<div style="TEXT-ALIGN: right">Exhibit 10.4</div>

<div>&#160;</div>

<div>&#160;</div>

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<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">OPGEN, INC.</div>

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<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">AMENDED AND RESTATED<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font>EXECUTIVE CHANGE IN CONTROL<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br>
</font> AND SEVERANCE BENEFITS AGREEMENT</div>

<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">This <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">AMENDED AND RESTATED</font>&#160;<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">EXECUTIVE CHANGE IN CONTROL AND SEVERANCE BENEFITS AGREEMENT</font> ("<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Agreement</font>")<font style="FONT-WEIGHT: normal"> is dated September 24, 2018 ("<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Effective Date</font>"), and is between Vadim Sapiro ("<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Executive</font>") and <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">OPGEN, INC.</font>, a Delaware corporation (the "<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Company</font>").</font></div>

<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, Executive is currently employed by the Company with a title of Chief Information Officer;</div>

<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, Executive and the Company are parties to that certain Amended and Restated Executive Change in Control and Severance Benefits Agreement, dated January 29, 2018 (the "<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Prior Agreement</font>"), and</div>

<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, the Company and Executive wish to terminate the Prior Agreement and enter into this amended and restated Agreement to set forth the compensation and benefits that Executive will be eligible to receive in the event that Executive's employment with the Company terminates under the circumstances described herein.</div>
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<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Accordingly, in consideration of the mutual promises and covenants contained herein the parties agree to the following:</div>

<div style="FONT-SIZE: 11pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-WEIGHT: bold">1.&#160; <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal"><u>Definitions</u></font></font>.&#160; For purposes of this Agreement, the following terms shall have the following meanings:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">"</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Cause</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif">" means:&#160; (i) Executive's commission of a felony; (ii)&#160;any act or omission of Executive constituting dishonesty, fraud, immoral or disreputable conduct that causes material harm to the Company; (iii) Executive's violation of Company policy that causes material harm to the Company; (iv) Executive's material breach of any written agreement between Executive and the Company which, if curable, remains uncured after notice; or (v)&#160;Executive's breach of fiduciary duty.</font></font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; TEXT-INDENT: 72pt"><font style="FONT-WEIGHT: bold">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>"<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Change in Control</font>"<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"> for the purpose of this Agreement, a "Change in Control" means:</font></div>