SEC Contract Filing

Filing Date: 2021-03-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>5
<FILENAME>htgm-ex1013_694.htm
<DESCRIPTION>EX-10.13
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.13</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-variant: small-caps;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;">HTG Molecular Diagnostics, Inc.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman Bold;font-variant: small-caps;font-size:12pt;font-style:normal;text-transform:none;"><a name="OLE_LINK1"></a><a name="OLE_LINK2"></a>Severance and Change in Control Plan</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman Bold;font-variant: small-caps;font-size:12pt;font-style:normal;text-transform:none;">Approved by the Compensation Committee of the Board of Directors on </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman Bold;font-variant: small-caps;font-size:12pt;font-style:normal;text-transform:none;">October 12, 2020</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:normal;color:#000000;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">Section 1.</font><font style="font-size:12pt;font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="font-variant: small-caps;font-size:12pt;color:#000000;">Introduction.</font></p>
<p style="margin-bottom:12pt;text-align:justify;margin-top:0pt;text-indent:15.38%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The HTG Molecular Diagnostics, Inc. Severance and Change in Control Plan (the &#8220;<font style="font-weight:bold;font-style:italic;">Plan</font>&#8221;) is hereby established <font style="color:#000000;">by the Compensation Committee of the Board of Directors of </font>HTG Molecular Diagnostics, Inc.<font style="font-weight:bold;"> </font>(the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;) effective upon the date of approval set forth above<font style="color:#000000;">. </font>The purpose of the Plan is to provide for the payment of severance and/or Change in Control (as defined below) benefits to eligible employees of the Company.&nbsp;&nbsp;This Plan document also is the Summary Plan Description for the Plan.</p>
<p style="margin-bottom:12pt;text-align:justify;margin-top:0pt;text-indent:15.38%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For purposes of the Plan, the following terms are defined as follows:</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-weight:bold;font-style:normal;color:#000000;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(a)</font><font style="font-size:12pt;font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="font-size:12pt;font-weight:normal;color:#000000;">&#8220;</font><font style="font-style:italic;font-size:12pt;color:#000000;">Affiliate</font><font style="font-size:12pt;font-weight:normal;color:#000000;">&#8221; means any corporation (other than the Company) in an &#8220;unbroken chain of corporations&#8221; beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-weight:bold;font-style:normal;color:#000000;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><font style="Background-color:#auto;text-decoration:none;">(b)</font><font style="font-size:12pt;font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="font-size:12pt;font-weight:normal;color:#000000;">&#8220;</font><font style="font-style:italic;font-size:12pt;color:#000000;">Base Salary</font><font style="font-size:12pt;font-weight:normal;color:#000000;">&#8221; means base pay (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect prior to any reduction that would give rise to an employee&#8217;s right to a resignation for Good Reason (if applicable).</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.38%;font-weight:bold;font-style:normal;color:#000000;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;letter-spacing:0pt;"><a name="_DV_M60"></a><a name="_Toc115683785"></a><font style="Background-color:#auto;text-decoration:none;">(c)</font><font style="font-size:12pt;font-weight:normal;margin-left:36pt;color:#000000;"></font><font style="font-size:12pt;font-weight:normal;color:#000000;">&#8220;</font><font style="font-style:italic;font-size:12pt;color:#000000;">Cause</font><