<SEC-DOCUMENT>0001564590-20-010228.txt : 20200312
<SEC-HEADER>0001564590-20-010228.hdr.sgml : 20200312
<ACCEPTANCE-DATETIME>20200312060545
ACCESSION NUMBER:		0001564590-20-010228
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200309
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200312
DATE AS OF CHANGE:		20200312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PLUS THERAPEUTICS, INC.
		CENTRAL INDEX KEY:			0001095981
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				330827593
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34375
		FILM NUMBER:		20707092

	BUSINESS ADDRESS:	
		STREET 1:		4200 MARATHON BLVD.
		STREET 2:		SUITE 200
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78756
		BUSINESS PHONE:		737.255.7194

	MAIL ADDRESS:	
		STREET 1:		4200 MARATHON BLVD.
		STREET 2:		SUITE 200
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78756

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CYTORI THERAPEUTICS, INC.
		DATE OF NAME CHANGE:	20050712

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MACROPORE INC
		DATE OF NAME CHANGE:	20010320
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pstv-8k_20200309.htm
<DESCRIPTION>8-K DIRECTORS AND EMPLOYMENT AGREEMENTS
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Form 8-K </p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Current Report </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section 13 or 15(d) of the </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Securities Exchange Act of 1934 </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date of Report<font style="font-weight:bold;"> </font>(Date of earliest event reported)<font style="font-weight:bold;">: March 9, 2020 </font></p>
<p style="border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;margin-left:33.33%;margin-right:33.33%;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:6pt;text-align:center;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> PLUS THERAPEUTICS, INC.<br /><font style="font-size:10pt;font-weight:normal;">(Exact name of registrant as specified in its charter)</font></p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">001-34375</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Commission File Number)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">33-0827593</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(IRS Employer<br />Identification No.)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:1.8pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">4200 Marathon Blvd., Suite 200, Austin, Texas 78756</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:1.8pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Address of principal executive offices, with zip code)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Registrant&#8217;s telephone number, including area code)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:9pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">N/A</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Former name or former address, if changed since last report)</p>
<p style="text-align:center;margin-top:9pt;line-height:4pt;border-bottom:Solid 1pt;padding-bottom:1pt;margin-bottom:0pt;margin-left:40%;margin-right:40%;text-indent:0%;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below): </p>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </p></td></tr></table></div>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Securities registered pursuant to Section 12(b) of the Act:<br /></p>
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<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Title of each class</p></td>
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<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Trading Symbol(s)</p></td>
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<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Name of each exchange on which registered</p></td>
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<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Common Stock, par value $0.001</p></td>
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<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PSTV</p></td>
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<p style="text-align:center;margin-top:3pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Nasdaq Capital Market</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this chapter).</p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Emerging growth company&#160;<font style="font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></font></p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160;<font style="font-family:'Times New Roman';"><font style="font-size:10pt;font-family:'Times New Roman'">&#9744;</font></font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:4pt;margin-bottom:0pt;margin-right:1.67%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></p>
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<p style="margin-bottom:10pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item&#160;5.02</p></td>
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<p style="margin-bottom:10pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Departure<font style="letter-spacing:-0.55pt;"> </font><font style="letter-spacing:-0.05pt;">of</font><font style="letter-spacing:-0.6pt;"> </font>Directors<font style="letter-spacing:-0.55pt;"> </font><font style="letter-spacing:-0.05pt;">or</font><font style="letter-spacing:-0.6pt;"> </font>Certain<font style="letter-spacing:-0.55pt;"> </font>Officers;<font style="letter-spacing:-0.6pt;"> </font>Election<font style="letter-spacing:-0.55pt;"> </font><font style="letter-spacing:-0.05pt;">of</font><font style="letter-spacing:-0.6pt;"> </font>Directors;<font style="letter-spacing:-0.55pt;"> </font>Appointment<font style="letter-spacing:-0.6pt;"> </font><font style="letter-spacing:-0.05pt;">of</font><font style="letter-spacing:-0.6pt;"> </font>Certain<font style="letter-spacing:-0.55pt;"> </font>Officers;<font style="letter-spacing:1.8pt;"> </font>Compensatory<font style="letter-spacing:-0.8pt;"> </font>Arrangements<font style="letter-spacing:-0.75pt;"> </font><font style="letter-spacing:-0.05pt;">of</font><font style="letter-spacing:-0.8pt;"> </font>Certain<font style="letter-spacing:-0.75pt;"> </font>Officers.</p></td>
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<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Appointment of Howard Clowes as New Director</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 9, 2020, the Board of Directors (the &#8220;Board&#8221;) of Plus Therapeutics, Inc. (the &#8220;Company&#8221;) appointed Mr. Howard Clowes to the Board, effective as of April 1, 2020. Mr. Clowes was appointed to the Board upon the recommendation of the Governance and Nominating Committee of the Board and pursuant to the bylaws of the Company. Mr. Clowes is expected to serve on the Compensation Committee and Audit Committee of the Board.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Clowes served for nearly four decades as a partner at DLA Piper, a leading law firm, where Mr. Clowes served in leadership positions in the firm&#8217;s Corporate and Securities Practice, advising public and private companies on securities law, financing, Mergers and Acquisition and general corporate matters. Mr. Clowes has a J.D. from the University of California, Berkeley (where he now serves as a Lecturer), and a BA from the University of California, Santa Barbara.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Clowes will receive an annual retainer of $40,000 for his service on the Board, and an additional $5,000 for each committee on which he serves. In connection with his appointment to the Board, Mr. Clowes will also receive an initial grant of options to purchase up to 40,000 shares of common stock of the Company, which will have an exercise price per share equal to the fair market value of the common stock on the date of grant and which are expected to vest and become exercisable in monthly installments over the next two years, subject to a one-year cliff. Mr. Clowes will be eligible for ongoing compensation for his service on the Board and any committees thereof on which he serves in accordance with the Company&#8217;s standard non-employee director compensation program. In addition, it is expected that Mr. Clowes will enter into the Company&#8217;s standard form of indemnification agreement.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:6.73%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="part_1_2_2"></a>There are no arrangements or understandings between Mr. Clowes and any other person pursuant to which he was selected as an officer, and there are no family relationships between Mr. Clowes and any of the Company&#8217;s directors or executive officers. Mr. Clowes has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under Item 404(a) of Regulation S-K. The Board has determined that Mr. Clowes meets&#160;the applicable independence requirements of The Nasdaq Stock Market LLC.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Appointment of Robert Lenk as New Director</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 9, 2020, the Board appointed Dr. Robert Lenk to the Board, effective as of April 1, 2020. Dr. Lenk was appointed to the Board upon the recommendation of the Governance and Nominating Committee of the Board and pursuant to the bylaws of the Company.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.73%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dr. Lenk is President of Link Pharmaceuticals, a pharmaceuticals development consultant to multinational corporations and startups. Previously, Dr. Lenk has served as Chief Scientific Officer of MediVector, Inc.; President of the NanoWorks division of Luna Innovations, Inc.; President &amp; CEO of Therapeutics 2000, Inc.; and Vice President of Research &amp; Development at Argus Pharmaceuticals. Dr. Lenk was also a Cofounder of The Liposome Co. and a Staff Fellow of the National Institute of Child Health and Human Development. Dr. Lenk has a PhD and BS from the Massachusetts Institute of Technology. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dr. Lenk will receive an annual retainer of $40,000 for his service on the Board. In connection with his appointment to the Board, Dr. Lenk will also receive an initial grant of options to purchase up to 40,000 shares of common stock of the Company, which will have an exercise price per share equal to the fair market value of the common stock on the date of grant and which are expected to vest and become exercisable in monthly installments over the next two years, subject to a one-year cliff. Dr. Lenk will be eligible for ongoing compensation for his service on the Board and any committees thereof on which he serves in accordance with the Company&#8217;s standard non-employee director compensation program. In addition, it is expected that Dr. Lenk will enter into the Company&#8217;s standard form of indemnification agreement.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:6.73%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There are no arrangements or understandings between Dr. Lenk and any other person pursuant to which he was selected as an officer, and there are no family relationships between Dr. Lenk and any of the Company&#8217;s directors or executive officers. Dr. Lenk has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under Item 404(a) of Regulation S-K. The Board has determined that Dr. Lenk meets&#160;the applicable independence requirements of The Nasdaq Stock Market LLC.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Marc Hedrick Employment Agreement</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>On March 11, 2020, the Company entered into a new Employment Agreement (the &#8220;Hedrick Employment Agreement&#8221;) with Mr. Marc Hedrick, the Company&#8217;s President and Chief Executive Officer, effective February 6, 2020. Pursuant to the terms of the </p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Hedrick E</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">mployment </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">greement, </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Hedrick</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> will receive an initial annual base salary of $</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">510,000</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and will be eligible to participate in the </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Company&#8217;s benefit and compensation plans. </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Hedrick</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> has been assigned an initial annual target bonus of </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">55</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% of</font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> his </font><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">base salary. </font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If Mr. Hedrick&#8217;s employment is terminated by the Company without cause or if Mr. Hedrick resigns for good reason (such an event, an &#8220;Involuntary Termination&#8221;), Mr. Hedrick will receive, among other things, severance in an amount equal to the sum of (i) twelve multiplied by Mr. Hedrick&#8217;s monthly base salary as in effect immediately prior to the Involuntary Termination, plus (ii) an amount equal to Mr. Hedrick&#8217;s target bonus for the year in which the Involuntary Termination occurs, plus (iii) to the extent such Involuntary Termination occurs prior to the payment of Mr. Hedrick&#8217;s annual bonus for the calendar year preceding the date of such Involuntary Termination, the amount of his annual bonus for such completed calendar year, plus (iv) an amount equal to twelve multiplied by the monthly premium required to pay for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for Mr. Hedrick and his or her eligible dependents who were covered under the Company&#8217;s health plans as of the date of the Involuntary Termination.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This summary of the Hedrick Employment Agreement is qualified in its entirety by reference to the full text of the Hedrick Employment Agreement, which is included as Exhibit 10.1 hereto and incorporated herein by reference.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Andrew Sims Employment Agreement</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 11, 2020, the Company entered into an Employment Agreement (the &#8220;Sims Employment Agreement&#8221;) with Mr. Sims. Pursuant to the terms of the Sims Employment Agreement, Mr. Sims will receive an initial annual base salary of $260,000 and will be eligible to participate in the Company&#8217;s benefit and compensation plans. Mr. Sims has been assigned an initial annual target bonus of 30% of his base salary. Further, in an effort to induce Mr. Sims to enter into the Sims Employment Agreement, Mr. Sims will also receive options to purchase up to 40,000 shares of common stock of the Company, which will have an exercise price per share equal to the fair market value of the common stock on the date of grant and which are expected to vest and become exercisable in monthly installments over the next four years, subject to a one-year cliff.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If Mr. Sims&#8217;s employment is terminated by the Company without cause or if Mr. Sims resigns for good reason (such an event, an &#8220;Involuntary Termination&#8221;), Mr. Sims will receive, among other things, severance in an amount equal to the sum of (i) twelve multiplied by Mr. Sims&#8217; monthly base salary as in effect immediately prior to the Involuntary Termination, plus (ii) an amount equal to Mr. Sim&#8217;s target bonus for the year in which the Involuntary Termination occurs, plus (iii) to the extent such Involuntary Termination occurs prior to the payment of Mr. Sims&#8217; annual bonus for the calendar year preceding the date of such Involuntary Termination, the amount of his annual bonus for such completed calendar year, plus (iv) an amount equal to twelve multiplied by the monthly premium required to pay for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for Mr. Sims and his or her eligible dependents who were covered under the Company&#8217;s health plans as of the date of the Involuntary Termination.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This summary of the Sims Employment Agreement is qualified in its entirety by reference to the full text of the Sims Employment Agreement, which is included as Exhibit 10.2 hereto and incorporated herein by reference.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 8.01 Other Events.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On March 12, 2020, the Company issued a press release announcing the appointment of Mr. Clowes and Dr. Lenk to the Board. A copy of the press release is attached hereto as Exhibit 99.1.</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The information in this Item 8.01, including Exhibit 99.1, is being furnished and not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, pursuant to Item 8.01 of Form 8-K and will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.</p>
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<p style="margin-bottom:10pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;letter-spacing:-0.15pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Financial Statements and Exhibits.</p></td>
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<p style="margin-bottom:10pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(d) Exhibits.</p></td>
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<p style="margin-bottom:10pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit<br />Number</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Description</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.1</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="pstv-ex101_7.htm"><font style="text-decoration:underline;">Employment Agreement between Plus Therapeutics, Inc. and Marc Hedrick</font></a></p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10.2</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="pstv-ex102_8.htm"><font style="text-decoration:underline;">Employment Agreement between Plus Therapeutics, Inc. and Andrew Sims</font></a></p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">99.1</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="pstv-ex991_6.htm"><font style="text-decoration:underline;">Press Release Announcing Board Appointee, dated March 12, 2020</font></a><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font></p></td>
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<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;margin-right:1.67%;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;margin-right:1.67%;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;margin-right:1.67%;text-indent:0%;font-weight:bold;;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;margin-right:1.67%;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURES</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:6.67%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date: March 12, 2020</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:50%;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PLUS THERAPEUTICS, INC.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:43.33%;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Marc H. Hedrick, M.D.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;text-align:left;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Marc H. Hedrick, M.D.</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;text-align:left;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">President and Chief Executive Office</p></td>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-top:0pt;margin-bottom:0pt;margin-left:7.81%;margin-right:7.81%;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">Exhibit 10.1</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;margin-left:7.81%;margin-right:7.81%;text-indent:0%;font-size:12pt;font-weight:bold;">&nbsp;</p>
<p style="margin-top:0pt;text-align:center;margin-bottom:0pt;margin-left:7.81%;margin-right:7.81%;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>EMPLOYMENT AGREEMENT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS EMPLOYMENT AGREEMENT (this &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;) is entered into by and between Plus Therapeutics, Inc., a Delaware corporation (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;), and Marc H. Hedrick, M.D. (&#8220;<font style="font-weight:bold;font-style:italic;">Executive</font>&#8221;), and shall be effective as of March 11, 2020 (the &#8220;<font style="font-weight:bold;font-style:italic;">Effective Date</font>&#8221;).</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company desires to continue to employ Executive, and Executive desires to continue employment with the Company, on the terms and conditions set forth in this Agreement. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties agree as follows:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Definitions</font>.&nbsp;&nbsp;As used in this Agreement, the following terms shall have the following meanings:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:13pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(a)<font style="margin-left:36pt;"></font><font style="Background-color:#FFFFFF;font-size:12pt;">The &#8220;</font><font style="font-weight:bold;font-style:italic;Background-color:#FFFFFF;font-size:12pt;">Acquisition Agreement Date</font><font style="Background-color:#FFFFFF;font-size:12pt;">&#8221; means the first day on which the Company and the acquirer formally or informally agree on the terms of a transaction which, if consummated, would constitute a Change in Control. Informal agreement need not be legally binding, and can be evidenced by such things as a letter of intent (even if legally non-binding) or taking steps, in reliance on the existence of an informal agreement, in contemplation of the consummation of the Change in Control.</font></p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(b)&#8220;<font style="font-weight:bold;font-style:italic;">Board</font>&#8221; means the Board of Directors of the Company.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(c)&#8220;<font style="font-weight:bold;font-style:italic;">Cause</font>&#8221; means any of the following:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(i) Executive&#8217;s extended disability (defined as the inability to perform, with or without reasonable accommodation, the essential functions of Executive&#8217;s position for any one hundred twenty (120) days within any continuous period of one hundred fifty (150) days by reason of physical or mental illness or incapacity);</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(ii) Executive&#8217;s repudiation of his employment or of this Agreement;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(iii) Executive&#8217;s conviction of (or plea of no contest with respect to) a felony, or of a misdemeanor involving moral turpitude, fraud, misappropriation or embezzlement;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;"> </font><font style="Background-color:#FFFFFF;margin-left:36pt;">(iv) Executive&#8217;s demonstrable and documented fraud, misappropriation or embezzlement against the Company;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(v) Intentional, reckless or grossly negligent action which causes material harm to the Company, including any misappropriation or unauthorized use of the Company&#8217;s property or improper use or disclosure of confidential information (but excluding any good faith exercise of business judgment);</font></p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(vi) </font><font style="Background-color:#FFFFFF;margin-left:36pt;">Intentional failure to substantially perform material employment duties or directives (other than following resignation for Good Reason as defined below) if such failure has continued for fifteen (15) days after Executive has been notified in writing by the Company of the nature of the failure to perform (it being understood that the performance of material duties or directives is satisfied if Executive has reasonable attendance and makes good faith business efforts to perform his duties on behalf of the Company. The Company may not terminate Executive for Cause based solely upon the operating performance of the Company); or</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;"> </font><font style="Background-color:#FFFFFF;margin-left:36pt;">(vii) Chronic absence from work for reasons other than illness, permitted vacation or resignation for Good Reason as defined below;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">provided, however, that prior to the determination that &#8220;Cause&#8221; under this Section 1(c) has occurred, the Company shall (A) provide to Executive in writing, in reasonable detail, the reasons for the determination that such &#8220;Cause&#8221; exists, (B) other than with respect to clause (vi) above which specifies the applicable period of time for Executive to remedy his or her breach, afford Executive a reasonable opportunity to remedy any such breach, (C) provide Executive an opportunity to be heard prior to the final decision to terminate Executive&#8217;s employment hereunder for such &#8220;Cause&#8221; and (D) make any decision that such &#8220;Cause&#8221; exists in good faith.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing definition shall not in any way preclude or restrict the right of the Company or any successor or affiliate thereof to discharge or dismiss Executive for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of this Agreement, to constitute grounds for termination for Cause.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;">&#8220;</font><font style="font-weight:bold;font-style:italic;">Change in Control</font>&#8221; shall have the meaning given to such term in clauses (i) and (ii) of Section 2.1(h) of the Company&#8217;s 2014 Equity Incentive Plan, as in effect on the date hereof; <font style="Background-color:#FFFFFF;">provided that in no event shall an issuance of securities by the Company for financing purposes be deemed a Change in Control for purposes of this Agreement</font>. Notwithstanding the foregoing, to the extent required by Section 409A of the Code, if a Change in Control would give rise to a payment or benefit event with respect to any payment or benefit hereunder that constitutes &#8220;nonqualified deferred compensation,&#8221; the transaction or event constituting the Change in Control must also constitute a &#8220;change in control event&#8221; (as defined in Treasury Regulation &#167;1.409A-3(i)(5)) in order to give rise to the payment or benefit, to the extent required by Section 409A of the Code.</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(e)&#8220;<font style="font-weight:bold;font-style:italic;">Code</font>&#8221; means the Internal Revenue Code of 1986, as amended from time to time, and the Treasury Regulations and other interpretive guidance issued thereunder.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(f)<font style="margin-left:36pt;">&#8220;</font><font style="font-weight:bold;font-style:italic;">Good Reason</font>&#8221; means the occurrence of any of the following events or conditions without Executive&#8217;s written consent:</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">2</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"></font><font style="margin-left:36pt;"></font><font style="margin-left:36pt;">(i)</font><font style="margin-left:36pt;"></font><font style="Background-color:#FFFFFF;">The Company&#8217;s material breach of its obligation to pay Executive the compensation earned for any past service (at the rate which had been stated to be in effect for such period of service)</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">;</font></p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(ii)</font><font style="Background-color:#FFFFFF;">a change in Executive&#8217;s position with the Company (or successor, affiliate, parent or subsidiary of the Company employing him) which materially reduces Executive&#8217;s duties and responsibilities as to the business conducted by the Company</font>; </p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iii)</font><font style="Background-color:#FFFFFF;">a reduction in Executive&#8217;s level of compensation (including base salary, fringe benefits (except as such reduction applies to all employees generally) and Target Bonus, but excluding stock-based compensation) by more than fifteen percent (15%)</font><font style="color:#000000;">; </font>or</p>
<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iv)</font><font style="Background-color:#FFFFFF;">a relocation of Executive&#8217;s place of employment by more than thirty (30) miles</font>.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">Executive must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without Executive&#8217;s written consent within thirty (30) days of the occurrence of such event.&nbsp;&nbsp;The Company or any successor or affiliate shall have a period of thirty (30) days to cure such event or condition after receipt of written notice of such event from Executive.&nbsp;&nbsp;Executive&#8217;s termination of employment by reason of resignation from employment with the Company for Good Reason shall be an &#8220;Involuntary Termination&#8221; only if such termination of employment occurs within ninety (30) days following the expiration of the foregoing thirty (30) day cure period. <font style="Background-color:#FFFFFF;">Executive&#8217;s right to terminate employment for Good Reason shall not be affected by Executive&#8217;s incapacity due to physical or mental illness. Executive&#8217;s continued employment shall not constitute consent to, or a waiver of rights with respect to, any circumstance constituting Good Reason herein; provided, that the foregoing time periods shall be complied with.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(f)<font style="margin-left:36pt;">&#8220;</font><font style="font-weight:bold;font-style:italic;">Involuntary Termination</font>&#8221; means (i) Executive&#8217;s termination of employment by reason of Executive&#8217;s discharge by the Company other than for Cause, or (ii) Executive&#8217;s termination of employment by reason of Executive&#8217;s resignation of employment with the Company for Good Reason.&nbsp;&nbsp;Executive&#8217;s termination of employment by reason of Executive&#8217;s death or discharge by the Company following Executive&#8217;s extended disability (as defined in Section 1(c) above) shall not constitute an Involuntary Termination.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(h)&#8220;</font><font style="font-weight:bold;font-style:italic;">Stock Awards</font>&#8221; means all stock options, restricted stock and such other awards granted pursuant to the Company&#8217;s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:54pt;"></font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Services to Be Rendered.</font>&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a>(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Duties and Responsibilities</font>.&nbsp;&nbsp;Executive shall serve as President and Chief Executive Officer of the Company.&nbsp;&nbsp;In the performance of such duties, Executive shall report directly to the Board and shall be subject to the direction of the Board and to such limits upon Executive&#8217;s authority as the<font style="font-weight:bold;"> </font>Board may from time to time impose.&nbsp;&nbsp;Executive hereby consents to serve as an officer and/or director of the Company or any subsidiary or affiliate thereof without any additional salary or compensation, if so requested by the Board.&nbsp;&nbsp;&nbsp;&nbsp;Executive&#8217;s primary place of work shall be the Company&#8217;s offices in Austin, TX, or such other locations designated by the Board from time to time.&nbsp;&nbsp;Executive shall also render services at such other places within or </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">3</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">outside the United States as</font><font style="font-weight:bold;"> </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the Board may direct from time to time.&nbsp;&nbsp;Executive shall be subject to and comply with the policies and procedures generally applicable to employees of the Company to the extent the same are not inconsistent with any term of this Agreement.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Exclusive Services</font>.&nbsp;&nbsp;Executive shall be employed by the Company on a full-time basis.&nbsp;&nbsp;Executive shall at all times faithfully, industriously and to the best of his or her ability, experience and talent perform to the satisfaction of the Board<font style="font-weight:bold;"> </font>all of the duties that may be assigned to Executive hereunder and shall devote substantially all of his or her productive time and efforts to the performance of such duties.&nbsp;&nbsp;Subject to the terms of the Proprietary Information and Inventions Agreement referred to in Section 5(a), this shall not preclude Executive from devoting time to personal and family investments or serving on community and civic boards, or participating in industry associations, provided such activities do not interfere with his or her duties to the Company, as determined in good faith by the Board.&nbsp;&nbsp;Executive agrees that he or she will not join any boards, other than community and civic boards (which do not interfere with his or her duties to the Company), without the prior approval of the Board. <font style="font-weight:bold;"> </font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Compensation and Benefits</font>.&nbsp;&nbsp;The Company shall pay or provide, as the case may be, to Executive the compensation and other benefits and rights set forth in this Section 3.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Base Salary</font>.&nbsp;&nbsp;The Company shall pay to Executive a base salary of $510,000<font style="font-weight:bold;font-style:italic;"> </font>per year, payable in accordance with the Company&#8217;s usual pay practices (and in any event no less frequently than monthly).&nbsp;&nbsp;Executive&#8217;s base salary shall be subject to review annually by and at the sole discretion of the Board or its designee.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Bonus</font>.&nbsp;&nbsp;Executive shall participate in any bonus plan that the Board or its designee may approve for similarly situated employees of the Company.&nbsp;&nbsp;Executive&#8217;s target bonus under the Company&#8217;s annual bonus plan shall be fifty-five percent (55%) of Executive&#8217;s base salary (the &#8220;<font style="font-weight:bold;font-style:italic;">Target Bonus</font>&#8221;).&nbsp;&nbsp;Except as expressly provided in this Agreement or in the terms of the annual bonus plan, and subject to Section 4(b)(ii) below, Executive&#8217;s receipt of an annual bonus shall be conditioned on Executive&#8217;s continued employment with the Company on the date such annual bonus is paid.&nbsp;&nbsp;Notwithstanding the foregoing, Executive&#8217;s annual bonus for 2020 shall in no event be less than his Target Bonus for such year and shall be paid on or before March 15, 2021.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:11.72%;">&nbsp;&nbsp;&nbsp;&nbsp;(c) <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Benefits</font>.&nbsp;&nbsp;Executive shall be entitled to participate in benefits under the Company&#8217;s benefit plans and arrangements, including, without limitation, any employee benefit plan or arrangement made available in the future by the Company to similarly-situated employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. The Company shall have the right to amend or delete any such benefit plan or arrangement made available by the Company to similarly situated employees and not otherwise specifically provided for herein.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:11.72%;"><font style="margin-left:36pt;">(d)</font><font style="text-decoration:underline;">Expenses</font>.&nbsp;&nbsp;The Company shall reimburse Executive for reasonable out-of-pocket business expenses incurred in connection with the performance of his or her duties hereunder, subject to such policies as the Company may from time to time establish and Executive furnishing the Company with evidence in the form of receipts satisfactory to the Company substantiating the claimed expenditures.&nbsp;&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">4</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(e)</font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Paid Time Off</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;Executive shall be entitled to such periods of paid time off (&#8220;</font><font style="font-weight:bold;font-style:italic;">PTO</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8221;) each year as provided from time to time under the Company&#8217;s PTO policy and as otherwise provided for </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">similarly situated</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> employees.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(f)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Stock Awards</font>.&nbsp;&nbsp;Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to similarly situated employees of the Company. Except as otherwise provided in this Agreement, Executive&#8217;s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(g)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Stock Award Acceleration.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(i)In the event of Executive&#8217;s Involuntary Termination, the vesting and/or exercisability of each of Executive&#8217;s outstanding unvested Stock Awards shall be automatically accelerated on the date of Executive&#8217;s termination of employment as to the number of Stock Awards that would vest over the twelve (12)</font><font style="font-weight:bold;font-style:italic;"> </font>month period following the date of Executive&#8217;s termination of employment had Executive remained continuously employed by the Company during such period.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(ii)In the event of Executive&#8217;s Involuntary Termination during the period commencing on the Acquisition Agreement Date and ending on the closing of the resulting Change in Control, in addition to any accelerated vesting and/or exercisability to which Executive may be entitled pursuant to clause (i) above, the vesting and/or exercisability of any remaining outstanding unvested portions of such Stock Awards shall be automatically accelerated on the later of (A) the date of Executive&#8217;s Involuntary Termination and (B) the date of the Change in Control.&nbsp;&nbsp;In addition, with respect to Stock Awards granted to Executive on or after the Effective Date, such Stock Awards may be exercised by Executive (or Executive&#8217;s legal guardian or legal representative) until the latest of (A) three (3) months after the date of Executive&#8217;s Separation from Service, (B) with respect to any portion of the Stock Awards that become exercisable on the date of a Change in Control pursuant to this Section 3(g)(ii), three (3) months after the date of the Change in Control, or (C) such longer period as may be specified in the applicable Stock Award agreement; provided, however, that in no event shall any Stock Award remain exercisable beyond the original outside expiration date of such Stock Award.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iii)In the event of a Change in Control, the vesting and/or exercisability of any outstanding unvested portions of such Stock Awards shall be automatically accelerated on the date of such Change in Control, provided that Executive remains in the employ or service of the Company as of the closing of such Change in Control.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iv)The vesting pursuant to clauses (i), (ii) and (iii) of this Section 3(g) shall be cumulative.&nbsp;&nbsp;The foregoing provisions are hereby deemed to be a part of each Stock Award and to supersede any less favorable provision in any agreement or plan regarding such Stock Award.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severance</font>.&nbsp;&nbsp;Executive shall be entitled to receive benefits upon a termination of employment only as set forth in this Section 4:</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">5</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU6"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)</font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">At-Will Employment; Termination</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;The Company and Executive acknowledge that Executive&#8217;s employment is and shall continue to be at-will, as defined under applicable law, and that Executive&#8217;s employment with the Company may be terminated by either party at any time for any or no reason, with or without notice.&nbsp;&nbsp;If Executive&#8217;s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in this Agreement.&nbsp;&nbsp;Executive&#8217;s employment under this Agreement shall be terminated immediately on the death of Executive.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severance Upon Involuntary Termination</font>.&nbsp;&nbsp; Subject to Sections 4(d) and 9(o) and Executive&#8217;s continued compliance with Section 5, if Executive&#8217;s employment is Involuntarily Terminated, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance plan or program of the Company, the benefits provided below:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(i)<font style="margin-left:36pt;">the Company shall pay to Executive his or her fully earned but unpaid base salary, when due, through the date of Executive&#8217;s Involuntary Termination at the rate then in effect, all accrued but unused PTO, plus all other amounts or benefits to which Executive is entitled under any compensation, retirement or benefit plan or practice of the Company at the time of termination in accordance with the terms of such plans or practices, including, without limitation, any continuation of benefits required by COBRA or applicable law;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(ii)<font style="margin-left:36pt;">Executive shall be entitled to receive severance pay in an amount equal to the sum of (A) twelve (12) multiplied by Executive&#8217;s monthly base salary as in effect immediately prior to the date of Executive&#8217;s Involuntary Termination, plus (B) an amount equal to Executive&#8217;s Target Bonus for the year in which Executive&#8217;s Involuntary Termination occurs, plus (C) to the extent such Involuntary Termination occurs prior to the payment to Executive of his annual bonus for the calendar year preceding the date of such Involuntary Termination, the amount of his annual bonus for such completed calendar year (which amount for </font>2020 shall in no event be less than his Target Bonus for such year), plus (D) an amount equal to twelve (12) multiplied by the monthly premium Executive is required to pay for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (&#8220;<font style="font-weight:bold;font-style:italic;">COBRA</font>&#8221;) for Executive and his or her eligible dependents who were covered under the Company&#8217;s health plans as of the date of Executive&#8217;s Involuntary Termination (calculated by reference to the premium as of the date of Executive&#8217;s Involuntary Termination), which amounts will be payable in a lump sum within ten (10) days following the effective date of Executive&#8217;s Release; </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0.98%;text-indent:22.46%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(iii)<font style="margin-left:36pt;">the vesting acceleration provided under Section 3(g) above; and</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU7"></a>(iv)<font style="margin-left:36pt;">Notwithstanding anything to the contrary in this Section 4(b), and subject to Sections 4(d) and 9(o) and Executive&#8217;s continued compliance with Section 5, in the event Executive&#8217;s Involuntary Termination occurs (A) during the period commencing on the Acquisition Agreement Date and ending on the closing of the resulting Change in Control, or (B) within twelve (12) months following a Change in Control, (1) the references to twelve (12) months in clause (ii) above shall be increased to eighteen (18) months, and (2) Executive&#8217;s monthly base salary for purposes of clause (ii)(A) above shall be equal to the greater of (x) Executive&#8217;s monthly base salary as in effect immediately prior to the date of Executive&#8217;s Involuntary Termination, or (y) Executive&#8217;s monthly base salary as of the Acquisition Agreement Date, which amounts, to the </font></p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">6</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">extent in excess of the amounts to be paid to Executive as a result of his Involuntary Termination pursuant to clause (ii) above, shall be payable in a lump sum within ten (10) days following the later of (A) the effective date of Executive&#8217;s Release and (B) the date of the Change in Control.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> (c)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Termination for Cause or Voluntary Resignation Without Good Reason</font>.&nbsp;&nbsp;In the event of Executive&#8217;s termination of employment as a result of Executive&#8217;s discharge by the Company for Cause, Executive&#8217;s resignation without Good Reason, or Executive&#8217;s death or termination of employment by reason of discharge by the Company following Executive&#8217;s extended disability (as defined in Section 1(c) above), the Company shall not have any other or further obligations to Executive under this Agreement (including any financial obligations) except that Executive shall be entitled to receive (i) Executive&#8217;s fully earned but unpaid base salary, through the date of termination at the rate then in effect, (ii) all accrued but unused PTO, and (iii) all other amounts or benefits to which Executive is entitled under any compensation, retirement or benefit plan or practice of the Company at the time of termination in accordance with the terms of such plans or practices, including, without limitation, any continuation of benefits required by COBRA or applicable law.&nbsp;&nbsp;In addition, all vesting of Executive&#8217;s unvested Stock Awards previously granted to him or her by the Company shall cease and none of such unvested Stock Awards shall be exercisable following the date of such termination.&nbsp;&nbsp;The foregoing shall be in addition to, and not in lieu of, any and all other rights and remedies which may be available to the Company under the circumstances, whether at law or in equity.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Release</font>.&nbsp;&nbsp;As a condition to Executive&#8217;s receipt of any post-termination benefits pursuant to Section 4(b) above, Executive shall execute and not revoke a general release of all claims in favor of the Company (the &#8220;<font style="font-weight:bold;font-style:italic;">Release</font>&#8221;) in the form attached hereto as <font style="text-decoration:underline;">Exhibit A</font>.&nbsp;&nbsp;In the event the Release does not become effective within the thirty (30) day period following the date of Executive&#8217;s termination of employment, Executive shall not be entitled to the aforesaid payments and benefits.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(e)</font><font style="text-decoration:underline;">Exclusive Remedy</font>.&nbsp;&nbsp;Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive&#8217;s rights to salary, severance, benefits, bonuses and other amounts hereunder (if any) accruing after the termination of Executive&#8217;s employment shall cease upon such termination.&nbsp;&nbsp;In the event of Executive&#8217;s termination of employment with the Company, Executive&#8217;s sole remedy shall be to receive the payments and benefits described in this Section 4.&nbsp;&nbsp;In addition, Executive acknowledges and agrees that he or she is not entitled to any reimbursement by the Company for any taxes payable by Executive as a result of the payments and benefits received by Executive pursuant to this Section 4, including, without limitation, any excise tax imposed by Section 4999 of the Code.&nbsp;&nbsp;Any payments made to Executive under this Section 4 shall be inclusive of any amounts or benefits to which Executive may be entitled pursuant to the Worker Adjustment and Retraining Notification Act, 29 U.S.C. Sections 2101 et seq., and the Department of Labor regulations thereunder, or any similar statute.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU8"></a><font style="margin-left:36pt;">(f)</font><font style="text-decoration:underline;">No Mitigation</font>.&nbsp;&nbsp;Executive shall not be required to mitigate the amount of any payment provided for in this Section 4 by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Section 4 be reduced by any compensation earned by Executive as the result of employment by another employer or self-employment or by retirement benefits; <font style="text-decoration:underline;">provided</font>, <font style="text-decoration:underline;">however</font>, that loans, advances or other amounts owed by Executive to the Company may be offset by the Company against amounts payable to </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">7</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Executive under this Section 4.</font><font style="font-size:13pt;">&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(g)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Return of the Company&#8217;s Property</font>.&nbsp;&nbsp;In the event of Executive&#8217;s termination of employment for any reason, the Company shall have the right, at its option, to require Executive to vacate his or her offices prior to or on the effective date of separation and to cease all activities on the Company&#8217;s behalf.&nbsp;&nbsp;Upon Executive&#8217;s termination of employment in any manner, as a condition to Executive&#8217;s receipt of any severance benefits described in this Agreement, Executive shall immediately surrender to the Company all lists, books and records of, or in connection with, the Company&#8217;s business, and all other property belonging to the Company, it being distinctly understood that all such lists, books and records, and other documents, are the property of the Company.&nbsp;&nbsp;Executive shall deliver to the Company a signed statement certifying compliance with this Section 4(g) prior to the receipt of any severance benefits described in this Agreement.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.81%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Certain Covenants</font>.</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:7.81%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Proprietary Information</font>.&nbsp;&nbsp;Executive and the Company have entered into the Company&#8217;s standard employee proprietary information and inventions agreement (the &#8220;<font style="font-weight:bold;font-style:italic;">Employee Proprietary Information and Inventions Agreement</font>&#8221;).&nbsp;&nbsp;Executive agrees to perform each and every obligation of Executive therein contained.</p>
<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Rights and Remedies Upon Breach</font>.&nbsp;&nbsp;If Executive breaches or threatens to commit a breach of any of the provisions of this Section&#160;5 (the &#8220;<font style="font-weight:bold;font-style:italic;">Restrictive Covenants</font>&#8221;), the Company shall have, in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity, the right to immediately cease all payments and benefits under Section 4(b) above.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(c)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Whistleblower Provision</font>. Nothing herein shall be construed to prohibit Executive from communicating directly with, cooperating with, or providing information to, any government regulator, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice. Executive acknowledges that the Company has provided Executive with the following notice of immunity rights in compliance with the requirements of the Defend Trade Secrets Act: (i) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of proprietary information of the Company that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (ii) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of proprietary information of the Company that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (iii) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the proprietary information to my attorney and use the proprietary information in the court proceeding, if Executive files any document containing the proprietary information under seal, and does not disclose the proprietary information, except pursuant to court order.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Insurance; Indemnification</font>.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU9"></a>(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Insurance</font>.&nbsp;&nbsp;The Company shall have the right to take out life, health, </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">8</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">accident, &#8220;key-man&#8221; or other insurance covering Executive, in the name of the Company and at the Company&#8217;s expense in any amount deemed appropriate by the Company.&nbsp;&nbsp;Executive shall assist the Company in obtaining such insurance, including, without limitation, submitting to any required examinations and providing information and data required by insurance companies.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Indemnification</font>.&nbsp;&nbsp;Executive will be provided with indemnification against third party claims related to his or her work for the Company as required by Delaware law.&nbsp;&nbsp;The Company shall provide Executive with directors and officers liability insurance coverage at least as favorable as that which the Company may maintain from time to time for members of the Board and other executive officers.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK1"></a><a name="OLE_LINK2"></a>7.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Arbitration</font>.&nbsp;&nbsp;Except as prohibited by law, any legal dispute between the Executive and the Company (or between the Executive and any affiliate of the Company, each of whom is hereby designated a third party beneficiary of this Agreement regarding arbitration) arising out of the Executive&#8217;s employment or cessation of employment, or arising out of the Executive&#8217;s directorship or resignation from his director position, or this Agreement (a "Dispute") will be resolved through binding arbitration in Dallas, Texas, under the rules and procedures of the Texas General Arbitration Act, Texas Civil Practices and Remedies Code, Section 171.001 et seq., and pursuant to Texas law. Nothing in this arbitration provision is intended to limit the Executive&#8217;s right to file a charge with or obtain relief from the National Labor Relations Board.&nbsp;&nbsp;THE PARTIES UNDERSTAND THAT BY AGREEING TO ARBITRATE DISPUTES THEY ARE WAIVING ANY RIGHT THEY MIGHT OTHERWISE HAVE TO A JURY TRIAL. This arbitration provision is not intended to modify or limit substantive rights or the remedies available to the parties, including the right to seek interim relief, such as injunction or attachment, through judicial process, which shall not be deemed a waiver of the right to demand and obtain arbitration. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">General Relationship</font>.&nbsp;&nbsp;Executive shall be considered an employee of the Company within the meaning of all federal, state and local laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers&#8217; compensation, industrial accident, labor and taxes.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.81%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Miscellaneous</font>.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Modification; Prior Claims</font>.&nbsp;&nbsp;This Agreement and the Employee Proprietary Information and Inventions Agreement set forth the entire understanding of the parties with respect to the subject matter hereof,&nbsp;&nbsp;and supersede all existing agreements between them concerning such subject matter, including, without limitation, any employment agreement or offer letter executed by the Company and Executive in effect prior to the Effective Date including that certain Agreement for Acceleration and/or Severance effective as of March<font style="font-weight:bold;font-style:italic;"> </font>11, 2015, between the Company and the Executive and any previous employment agreement between the Company and Executive.&nbsp;&nbsp;This Agreement may be amended or modified only with the written consent of Executive and an authorized representative of the Company.&nbsp;&nbsp;No oral waiver, amendment or modification will be effective under any circumstances whatsoever.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU10"></a>(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Assignment; Assumption by Successor</font>.&nbsp;&nbsp;The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">9</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company.&nbsp;&nbsp;The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder. &#160;As used in this Agreement, the &#8220;</font><font style="text-decoration:underline;">Company</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8221; shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Survival</font>.&nbsp;&nbsp;The covenants, agreements, representations and warranties contained in or made in Sections&#160;3(g), 4, 5, 6, 7 and 9 of this Agreement shall survive any Executive&#8217;s termination of employment.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Third&#8209;Party Beneficiaries</font>.&nbsp;&nbsp;This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person not a party to this Agreement.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(e)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Waiver</font>.&nbsp;&nbsp;The failure of either party hereto at any time to enforce performance by the other party of any provision of this Agreement shall in no way affect such party&#8217;s rights thereafter to enforce the same, nor shall the waiver by either party of any breach of any provision hereof be deemed to be a waiver by such party of any other breach of the same or any other provision hereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(f)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Section Headings</font>.&nbsp;&nbsp;The headings of the several sections in this Agreement are inserted solely for the convenience of the parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(g)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Notices</font>.&nbsp;&nbsp;Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated:&nbsp;&nbsp;(i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by email, telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt.&nbsp;&nbsp;Notice shall be sent to Executive at the address listed on the Company&#8217;s personnel records and to the Company at its principal place of business, or such other address as either party may specify in writing.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(h)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severability</font>.&nbsp;&nbsp;All Sections, clauses and covenants contained in this Agreement are severable, and in the event any of them shall be held to be invalid by any court, this Agreement shall be interpreted as if such invalid Sections, clauses or covenants were not contained herein.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU11"></a>(i)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Governing Law and Venue</font>.&nbsp;&nbsp;This Agreement is to be governed by and construed in accordance with the laws of the State of Texas applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.&nbsp;&nbsp;Except as provided in Sections&#160;5 and 7, any suit brought hereon shall be brought in the state or federal courts sitting in Travis County, Texas, the parties hereto hereby waiving any claim or defense that such forum is not convenient or proper.&nbsp;&nbsp;Each party hereby agrees that any such court </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">10</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">shall have in personam jurisdiction over it and consents to service of process in any manner authorized by </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Texas </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">law.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(j)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Non-transferability of Interest</font>.&nbsp;&nbsp;None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Executive.&nbsp;&nbsp;Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in the rights of Executive to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(k)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Gender</font>.&nbsp;&nbsp;Where the context so requires, the use of the masculine gender shall include the feminine and/or neuter genders and the singular shall include the plural, and vice versa, and the word &#8220;person&#8221; shall include any corporation, firm, partnership or other form of association.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(l)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Counterparts; Facsimile or .pdf Signatures</font>.&nbsp;&nbsp;This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same agreement.&nbsp;&nbsp;This Agreement may be executed and delivered by facsimile or by .pdf file and upon such delivery the facsimile or .pdf signature will be deemed to have the same effect as if the original signature had been delivered to the other party.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(m)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Construction</font>.&nbsp;&nbsp;The language in all parts of this Agreement shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto.&nbsp;&nbsp;Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Agreement or any part thereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(n)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Withholding and other Deductions</font>.&nbsp;&nbsp;All compensation payable to Executive hereunder shall be subject to such deductions as the Company is from time to time required to make pursuant to law, governmental regulation or order.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-right:7.81%;text-indent:15.62%;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(o)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Code Section 409A</font>.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;"></font><font style="font-weight:normal;">(i)</font><font style="margin-left:36pt;"></font><font style="text-decoration:none;color:#auto;">This Agreement is not intended to provide for any deferral of compensation subject to Section 409A of the Code, and, accordingly, the severance payments payable under Sections 4(b)(ii) and (iv) shall be paid no later than the later of:&nbsp;&nbsp;(A) the fifteenth (15th) day of the third month following Executive&#8217;s first taxable year in which such amounts are no longer subject to a substantial risk of forfeiture, and (B) the fifteenth (15th) day of the third month following first taxable year of the Company in which such amounts are is no longer subject to substantial risk of forfeiture, as determined in accordance with Code Section 409A and any Treasury Regulations and other guidance issued thereunder.&nbsp;&nbsp;To the extent applicable, this Agreement shall be interpreted in accordance with Code Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder.&nbsp;&nbsp;Each series of installment payments made under this Agreement is hereby designated as a series of &#8220;separate payments&#8221; within the meaning of Section 409A of the Code.&nbsp;&nbsp; </font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#auto;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="OLE_LINK8"></a><a name="OLE_LINK7"></a><a name="_AEIOULastRenderedPageBreakAEIOU12"></a><font style="text-decoration:none;"></font><font style="text-decoration:none;margin-left:36pt;"></font><font style="text-decoration:none;">(ii)</font><font style="text-decoration:none;margin-left:36pt;"></font><font style="font-weight:normal;color:#000000;"><a name="OLE_LINK8"></a><a name="OLE_LINK7"></a>Notwithstanding anything herein to the contrary, to the extent any payments to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">pursuant to Section 4(b)) are treated as non-qualified deferred </font></p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">11</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#auto;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;color:#000000;">compensation subject to Section 409A of the Code, then (A) no amount shall be payable pursuant to such section unless </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> termination of employment constitutes a &#8220;separation from service&#8221; with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a &#8220;</font><font style="font-style:italic;color:#000000;">Separation from Service</font><font style="font-weight:normal;color:#000000;">&#8221;), (B) any such payment payable under Section 4(b)(ii) or (iv) shall be paid on the sixtieth (60th) day following (1) Executive&#8217;s Separation from Service (with respect to payments pursuant to Section 4(b)(ii) or (2) the later of Executive&#8217;s Separation from Service or the date of the Change in Control, as applicable (with respect to payments pursuant to Section 4(b)(iv)), and (C) if </font><font style="font-weight:normal;color:#000000;">Executive</font><font style="font-weight:normal;color:#000000;">, at the time of his or her Separation from Service, is determined by the Company to be a &#8220;specified employee&#8221; for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement of any portion of the termination benefits payable to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a &#8220;</font><font style="font-style:italic;color:#000000;">Payment Delay</font><font style="font-weight:normal;color:#000000;">&#8221;), then such portion of </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> termination benefits described in Section 4(b) shall not be provided to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">prior to the earlier of (A) the expiration of the six-month period measured from the date of </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> Separation from Service, (B) the date of </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> death or (C) such earlier date as is permitted under Section 409A.&nbsp;&nbsp;Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">within ten (10) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein.&nbsp;&nbsp;The determination of whether </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">is a &#8220;specified employee&#8221; for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his or her Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:23.44%;color:#auto;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:none;">(i)</font><font style="text-decoration:none;margin-left:54pt;"></font><font style="font-weight:normal;color:#000000;">To the extent applicable, this Agreement shall be interpreted in accordance with the applicable exemptions from Section 409A of the Code.&nbsp;&nbsp;If Executive and the Company determine that any payments or benefits payable under this Agreement intended to comply with Sections 409A(a)(2), (3) and (4) of the Code do not comply with Section 409A of the Code, Executive and the Company agree to amend this Agreement, or take such other actions as Executive and the Company deem reasonably necessary or appropriate, to comply with the requirements of Section 409A of the Code and the Treasury Regulations thereunder (and any applicable transition relief) while preserving the economic agreement of the parties.&nbsp;&nbsp;To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner that no payments payable under this Agreement shall be subject to an &#8220;additional tax&#8221; as defined in Section 409A(a)(1)(B) of the Code.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:23.44%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(ii)<font style="margin-left:54pt;"></font>Any reimbursement of expenses or in-kind benefits payable under this Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of Executive&#8217;s taxable year following the taxable year in which Executive incurred the expenses.&nbsp;&nbsp;The amount of expenses reimbursed or in-kind benefits payable during any taxable year of Executive&#8217;s shall not affect the amount eligible for reimbursement or in-kind benefits payable in any other taxable year of Executive&#8217;s, and Executive&#8217;s right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Signature Page Follows)</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">12</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">13</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU13"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.</font></p>
<p style="margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-variant: small-caps;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-indent:7.69%;"><font style="margin-left:36pt;"></font><font style="font-weight:bold;">PLUS Therapeutics, Inc.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;">By: </font><font style="text-decoration:underline;">/s/ Richard Hawkins</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;"><br /></font><font style="margin-left:36pt;">Name: </font>Richard Hawkins<font style="margin-left:36pt;"></font><br /><font style="margin-left:36pt;">Title: </font>Chairman</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-size:12pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;text-indent:7.69%;"><font style="margin-left:36pt;">Executive</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">&#160;/s/ Marc H. Hedrick, M.D.</font><font style="text-decoration:underline;margin-left:36pt;"></font><br /><font style="margin-left:36pt;">Print Name:&nbsp;&nbsp;Marc H. Hedrick, M.D.</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURE PAGE TO EMPLOYMENT AGREEMENT</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91543870.1</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU14"></a><font style="font-weight:bold;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;">Exhibit A</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:13pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">GENERAL RELEASE OF CLAIMS</font></p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"><a name="_DV_C6"></a>&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;color:#auto;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:none;">[</font><font style="font-style:italic;text-decoration:none;">The language in this Release may change based on legal developments and evolving best practices; this form is provided as an example of what will be included in the final Release document.</font><font style="text-decoration:none;">]</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">This General Release of Claims (&#8220;<font style="font-weight:bold;font-style:italic;">Release</font>&#8221;) is entered into as of this [_____] day of [________], [____], between Marc H. Hedrick, M.D. (&#8220;<font style="font-weight:bold;font-style:italic;">Executive</font>&#8221;), and PlusTherapeutics, Inc., a Delaware corporation (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;) (collectively referred to herein as the &#8220;<font style="font-weight:bold;font-style:italic;">Parties</font>&#8221;).</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">WHEREAS, Executive and the Company are parties to that certain Employment Agreement dated as of March 11, 2020 (the &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;);</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">WHEREAS, the Parties agree that Executive is entitled to certain severance benefits under the Agreement, subject to Executive&#8217;s execution of this Release; and</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">WHEREAS, the Company and Executive now wish to fully and finally to resolve all matters between them.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Executive pursuant to the Agreement, the adequacy of which is hereby acknowledged by Executive, and which Executive acknowledges that he would not otherwise be entitled to receive, Executive and the Company hereby agree as follows:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">1.<font style="text-decoration:underline;">General Release of Claims by Executive</font>.&nbsp;&nbsp;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU15"></a>(a)Executive, on behalf of himself or herself and his or her executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his or her employment with or service to the Company (collectively, the &#8220;<font style="font-weight:bold;font-style:italic;">Company Releasees</font>&#8221;), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys&#8217; fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, &#8220;<font style="font-weight:bold;font-style:italic;">Claims</font>&#8221;), which Executive has or may have had against such Company Releasees based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive&#8217;s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, </p></td></tr></table></div>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:6pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91543870.1</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Americans with Disabilities Act, as amended, 42&#160;U.S.C. &#167;&#160;12101 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Rehabilitation Act of 1973, as amended, 29&#160;U.S.C. &#167;&#160;701 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">. (the &#8220;</font><font style="font-weight:bold;font-style:italic;">ADEA</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8221;); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Family and Medical Leave Act, as amended, 29&#160;U.S.C.&#160;&#167;&#160;2601 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Fair Labor Standards Act of 1938, as amended, 29&#160;U.S.C. &#167;&#160;201 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.;</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> and</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> the Employee Retirement Income Security Act, as amended, 29 U.S.C. &#167;&#160;1001 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Notwithstanding the generality of the foregoing, Executive does not release the following claims:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(i)Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law; </p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-indent:36px;"></p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(ii)Claims for workers&#8217; compensation insurance benefits under the terms of any worker&#8217;s compensation insurance policy or fund of the Company; </p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(iii)Claims pursuant to the terms and conditions of the federal law known as COBRA;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(iv)Claims for indemnity under the bylaws of the Company, as provided for by Texas law <font style="color:#000000;">or under any applicable insurance policy with respect to Executive&#8217;s liability as an employee, director or officer of the Company</font>;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(v)Executive&#8217;s right to bring to the attention of the Equal Employment Opportunity Commission, the Texas Labor Code (including the Texas Payday Act), the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, the Texas Whistleblower Act, the Texas Commission on Human Rights Act or any other federal, state or local government agency claims of discrimination, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local government agency; provided, however, that Executive does release his or her right to secure any damages for alleged discriminatory treatment;</p>
<p style="text-indent:36px;">(v)Executive&#8217;s right to bring to the attention of the Equal Employment Opportunity Commission, the Texas Labor Code (including the Texas Payday Act), the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, the Texas Whistleblower Act, the Texas Commission on Human Rights Act or any other federal, state or local government agency claims of discrimination, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local government agency; provided, however, that Executive does release his or her right to secure any damages for alleged discriminatory treatment;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(vi)<font style="color:#000000;">Claims based on any right Executive may have to enforce the Company&#8217;s executory obligations under the Agreement; and</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(vii)Claims Executive may have to vested or earned compensation and benefits.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-indent:0px;"></p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(b)EXECUTIVE <font style="text-transform:uppercase;">ACKNOWLEDGES THAT HE OR she </font>HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</a></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91543870.1</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU16"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;">&#8220;A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS </font><font style="font-weight:bold;">THAT </font><font style="font-weight:bold;">THE CREDITOR</font><font style="font-weight:bold;"> OR RELEASING PARTY</font><font style="font-weight:bold;"> DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE</font><font style="font-weight:bold;"> AND THAT</font><font style="font-weight:bold;">, IF KNOWN BY HIM OR HER, </font><font style="font-weight:bold;">WOULD </font><font style="font-weight:bold;">HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR</font><font style="font-weight:bold;"> OR RELEASED PARTY</font><font style="font-weight:bold;">.&#8221;</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE OR SHE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.</p></td></tr></table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">[Note:&nbsp;&nbsp;Clauses (c), (d) and (e) apply only if Executive is age 40 or older at time of termination]</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(c)&nbsp;&nbsp;Executive acknowledges that this Release was presented to him or her on the date indicated above and that Executive is entitled to have twenty-one (21) days&#8217; time in which to consider it.&nbsp;&nbsp;Executive further acknowledges that the Company has advised him or her that he or she is waiving her rights under the ADEA, and that Executive should consult with an attorney of his or her choice before signing this Release, and Executive has had sufficient time to consider the terms of this Release.&nbsp;&nbsp;Executive represents and acknowledges that if Executive executes this Release before twenty-one (21) days have elapsed, Executive does so knowingly, voluntarily, and upon the advice and with the approval of Executive&#8217;s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(d)&nbsp;&nbsp;Executive understands that after executing this Release, Executive has the right to revoke it within seven (7) days after his or her execution of it.&nbsp;&nbsp;Executive understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Executive does not revoke the Release in writing.&nbsp;&nbsp;Executive understands that this Release may not be revoked after the seven (7) day revocation period has passed.&nbsp;&nbsp;Executive also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of business within the seven (7) day period.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(e)&nbsp;&nbsp;Executive understands that this Release shall become effective, irrevocable, and binding upon Executive on the eighth (8<sup style="font-size:85%;line-height:120%;vertical-align:top">th</sup>) day after his or her execution of it, so long as Executive has not revoked it within the time period and in the manner specified in clause (d) above.&nbsp;&nbsp;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(f)Executive further understands that Executive will not be given any severance benefits under the Agreement unless this Release is effective on or before the date that is thirty (30) days following the date of Executive&#8217;s termination of employment.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:13pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;Background-color:#FFFFFF;font-size:12pt;">Nondisparagement</font><font style="Background-color:#FFFFFF;font-size:12pt;">. The parties agree that each will use its reasonable best efforts to not make any voluntary statements, written or verbal, or cause or encourage others to make any such statements that defame, disparage or in any way criticize the reputation, business practices or conduct of Executive (in the case of the Company) or the Company or any of the other Company Releasees (in the case of Executive).</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU17"></a>3.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Whistleblower Provision</font>.&nbsp;&nbsp;<font style="margin-left:36pt;">Nothing herein shall be construed to prohibit Executive from communicating directly with, cooperating with, or providing information to, any </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">government regulator, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice. Executive acknowledges that the Company has provided Executive with the following notice of immunity rights in compliance with the requirements of the Defend Trade Secrets Act: (a) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Proprietary Information (as defined in the </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Agreement)</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (b) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Proprietary Information that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (c) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the Proprietary Information to my attorney and use the Proprietary Information in the court proceeding, if Executive files any document containing the Proprietary Information under seal, and does not disclose the Proprietary Information, except pursuant to court order.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">No Assignment</font>.&nbsp;&nbsp;Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees.&nbsp;&nbsp;Executive agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys&#8217; fees incurred as a result of any such assignment or transfer from Executive.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">5.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severability</font>.&nbsp;&nbsp;In the event any provision of this Release is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law.&nbsp;&nbsp;If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Interpretation; Construction</font>.&nbsp;&nbsp;The headings set forth in this Release are for convenience only and shall not be used in interpreting this Agreement.&nbsp;&nbsp;This Release has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms.&nbsp;&nbsp;Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Release and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Release.&nbsp;&nbsp;Either party&#8217;s failure to enforce any provision of this Release shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Release.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU18"></a>7.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Governing Law and Venue</font>.&nbsp;&nbsp;This Release will be governed by and construed in accordance with the laws of the United States of America and the State of Texas applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.&nbsp;&nbsp;Any suit brought hereon shall be brought in the state or federal courts sitting in Travis County, Texas, the Parties hereby waiving any claim or defense that such forum </p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">is not convenient or proper.&nbsp;&nbsp;Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Texas </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">law.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Entire Agreement</font>.&nbsp;&nbsp;This Release and the Agreement constitute the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations and agreements, whether written or oral.&nbsp;&nbsp;This Release may be amended or modified only with the written consent of Executive and an authorized representative of the Company.&nbsp;&nbsp;No oral waiver, amendment or modification will be effective under any circumstances whatsoever.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Counterparts</font>.&nbsp;&nbsp;This Release may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same agreement.&nbsp;&nbsp;This Release may be executed and delivered by facsimile or by .pdf file and upon such delivery the facsimile or .pdf signature will be deemed to have the same effect as if the original signature had been delivered to the other party.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Signature Page Follows) </p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU19"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing Release as of the date first written above.</font></p></td></tr></table></div>
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<p style="margin-bottom:12pt;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;">Executive<font style="margin-left:36pt;"></font>Plus Therapeutics, Inc.</p>
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<p style="margin-bottom:12pt;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;">Print Name:&nbsp;&nbsp;Marc H. Hedrick, M.D.<font style="margin-left:36pt;"></font><font style="font-weight:bold;font-style:italic;margin-left:36pt;"></font><font style="margin-left:36pt;">Print Name:&nbsp;&nbsp;</font><font style="text-decoration:underline;margin-left:36pt;"></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;">Title:</font> <font style="text-decoration:underline;margin-left:36pt;"></font></p>
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<TYPE>EX-10.2
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<FILENAME>pstv-ex102_8.htm
<DESCRIPTION>EX-10.2
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-top:12pt;margin-bottom:0pt;margin-left:7.81%;margin-right:7.81%;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"> Exhibit 10.2</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;margin-left:7.81%;margin-right:7.81%;text-indent:7.81%;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EMPLOYMENT AGREEMENT</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">THIS EMPLOYMENT AGREEMENT (this &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;) is entered into by and between Plus Therapeutics, Inc., a Delaware corporation (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;), and Andrew Sims (&#8220;<font style="font-weight:bold;font-style:italic;">Executive</font>&#8221;), and shall be effective as of March 11, 2020 (the &#8220;<font style="font-weight:bold;font-style:italic;">Effective Date</font>&#8221;).</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">WHEREAS, the Company desires to continue to employ Executive, and Executive desires to continue employment with the Company, on the terms and conditions set forth in this Agreement. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties agree as follows:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Definitions</font>.&nbsp;&nbsp;As used in this Agreement, the following terms shall have the following meanings:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:13pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(a)<font style="margin-left:36pt;"></font><font style="Background-color:#FFFFFF;font-size:12pt;">The &#8220;</font><font style="font-weight:bold;font-style:italic;Background-color:#FFFFFF;font-size:12pt;">Acquisition Agreement Date</font><font style="Background-color:#FFFFFF;font-size:12pt;">&#8221; means the first day on which the Company and the acquirer formally or informally agree on the terms of a transaction which, if consummated, would constitute a Change in Control. Informal agreement need not be legally binding, and can be evidenced by such things as a letter of intent (even if legally non-binding) or taking steps, in reliance on the existence of an informal agreement, in contemplation of the consummation of the Change in Control.</font></p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(b)&#8220;<font style="font-weight:bold;font-style:italic;">Board</font>&#8221; means the Board of Directors of the Company.</p></td></tr></table></div>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(c)&#8220;<font style="font-weight:bold;font-style:italic;">Cause</font>&#8221; means any of the following:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(i) Executive&#8217;s extended disability (defined as the inability to perform, with or without reasonable accommodation, the essential functions of Executive&#8217;s position for any one hundred twenty (120) days within any continuous period of one hundred fifty (150) days by reason of physical or mental illness or incapacity);</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(ii) Executive&#8217;s repudiation of his employment or of this Agreement;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(iii) Executive&#8217;s conviction of (or plea of no contest with respect to) a felony, or of a misdemeanor involving moral turpitude, fraud, misappropriation or embezzlement;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;"> </font><font style="Background-color:#FFFFFF;margin-left:36pt;">(iv) Executive&#8217;s demonstrable and documented fraud, misappropriation or embezzlement against the Company;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(v) Intentional, reckless or grossly negligent action which causes material harm to the Company, including any misappropriation or unauthorized use of the Company&#8217;s property or improper use or disclosure of confidential information (but excluding any good faith exercise of business judgment);</font></p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="Background-color:#FFFFFF;"></font><font style="Background-color:#FFFFFF;margin-left:36pt;">(vi) </font><font style="Background-color:#FFFFFF;margin-left:36pt;">Intentional failure to substantially perform material employment duties or directives (other than following resignation for Good Reason as defined below) if such failure has continued for fifteen (15) days after Executive has been notified in writing by the Company of the nature of the failure to perform (it being understood that the performance of material duties or directives is satisfied if Executive has reasonable attendance and makes good faith business efforts to perform his duties on behalf of the Company. The Company may not terminate Executive for Cause based solely upon the operating performance of the Company); or</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;"> </font><font style="Background-color:#FFFFFF;margin-left:36pt;">(vii) Chronic absence from work for reasons other than illness, permitted vacation or resignation for Good Reason as defined below;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">provided, however, that prior to the determination that &#8220;Cause&#8221; under this Section 1(c) has occurred, the Company shall (A) provide to Executive in writing, in reasonable detail, the reasons for the determination that such &#8220;Cause&#8221; exists, (B) other than with respect to clause (vi) above which specifies the applicable period of time for Executive to remedy his or her breach, afford Executive a reasonable opportunity to remedy any such breach, (C) provide Executive an opportunity to be heard prior to the final decision to terminate Executive&#8217;s employment hereunder for such &#8220;Cause&#8221; and (D) make any decision that such &#8220;Cause&#8221; exists in good faith.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing definition shall not in any way preclude or restrict the right of the Company or any successor or affiliate thereof to discharge or dismiss Executive for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of this Agreement, to constitute grounds for termination for Cause.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;">&#8220;</font><font style="font-weight:bold;font-style:italic;">Change in Control</font>&#8221; shall have the meaning given to such term in clauses (i) and (ii) of Section 2.1(h) of the Company&#8217;s 2014 Equity Incentive Plan, as in effect on the date hereof; <font style="Background-color:#FFFFFF;">provided that in no event shall an issuance of securities by the Company for financing purposes be deemed a Change in Control for purposes of this Agreement</font>. Notwithstanding the foregoing, to the extent required by Section 409A of the Code, if a Change in Control would give rise to a payment or benefit event with respect to any payment or benefit hereunder that constitutes &#8220;nonqualified deferred compensation,&#8221; the transaction or event constituting the Change in Control must also constitute a &#8220;change in control event&#8221; (as defined in Treasury Regulation &#167;1.409A-3(i)(5)) in order to give rise to the payment or benefit, to the extent required by Section 409A of the Code.</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(e)&#8220;<font style="font-weight:bold;font-style:italic;">Code</font>&#8221; means the Internal Revenue Code of 1986, as amended from time to time, and the Treasury Regulations and other interpretive guidance issued thereunder.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(f)<font style="margin-left:36pt;">&#8220;</font><font style="font-weight:bold;font-style:italic;">Good Reason</font>&#8221; means the occurrence of any of the following events or conditions without Executive&#8217;s written consent:</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(i)</font><font style="Background-color:#FFFFFF;">The Company&#8217;s material breach of its obligation to pay Executive the compensation earned for any past service (at the rate which had been stated to be in effect for such period of service)</font>;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(ii)</font><font style="Background-color:#FFFFFF;">a change in Executive&#8217;s position with the Company (or successor, affiliate, parent or subsidiary of the Company employing him) which materially reduces Executive&#8217;s duties and responsibilities as to the business conducted by the Company</font>; </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">2</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"></font><font style="margin-left:36pt;"></font><font style="margin-left:36pt;">(iii)</font><font style="margin-left:36pt;"></font><font style="Background-color:#FFFFFF;">a reduction in Executive&#8217;s level of compensation (including base salary, fringe benefits (except as such reduction applies to all employees generally) and Target Bonus, but excluding stock-based compensation) by more than fifteen percent (15%)</font><font style="color:#000000;">; </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">or</font></p>
<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iv)</font><font style="Background-color:#FFFFFF;">a relocation of Executive&#8217;s place of employment by more than thirty (30) miles</font>.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">Executive must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without Executive&#8217;s written consent within thirty (30) days of the occurrence of such event.&nbsp;&nbsp;The Company or any successor or affiliate shall have a period of thirty (30) days to cure such event or condition after receipt of written notice of such event from Executive.&nbsp;&nbsp;Executive&#8217;s termination of employment by reason of resignation from employment with the Company for Good Reason shall be an &#8220;Involuntary Termination&#8221; only if such termination of employment occurs within ninety (30) days following the expiration of the foregoing thirty (30) day cure period. <font style="Background-color:#FFFFFF;">Executive&#8217;s right to terminate employment for Good Reason shall not be affected by Executive&#8217;s incapacity due to physical or mental illness. Executive&#8217;s continued employment shall not constitute consent to, or a waiver of rights with respect to, any circumstance constituting Good Reason herein; provided, that the foregoing time periods shall be complied with.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(f)<font style="margin-left:36pt;">&#8220;</font><font style="font-weight:bold;font-style:italic;">Involuntary Termination</font>&#8221; means (i) Executive&#8217;s termination of employment by reason of Executive&#8217;s discharge by the Company other than for Cause, or (ii) Executive&#8217;s termination of employment by reason of Executive&#8217;s resignation of employment with the Company for Good Reason.&nbsp;&nbsp;Executive&#8217;s termination of employment by reason of Executive&#8217;s death or discharge by the Company following Executive&#8217;s extended disability (as defined in Section 1(c) above) shall not constitute an Involuntary Termination.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(h)&#8220;</font><font style="font-weight:bold;font-style:italic;">Stock Awards</font>&#8221; means all stock options, restricted stock and such other awards granted pursuant to the Company&#8217;s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:54pt;"></font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Services to Be Rendered.</font>&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Duties and Responsibilities</font>.&nbsp;&nbsp;Executive shall serve as Vice President of Finance and Chief Financial Officer of the Company.&nbsp;&nbsp;In the performance of such duties, Executive shall report directly to the Chief Executive Officer (the &#8220;<font style="font-weight:bold;font-style:italic;">CEO</font>&#8221;) and shall be subject to the direction of the CEO and to such limits upon Executive&#8217;s authority as the<font style="font-weight:bold;"> </font>CEO may from time to time impose.&nbsp;&nbsp;In the event of the CEO&#8217;s incapacity or unavailability, Executive shall be subject to the direction of the Board.&nbsp;&nbsp;Executive hereby consents to serve as an officer and/or director of the Company or any subsidiary or affiliate thereof without any additional salary or compensation, if so requested by the CEO.&nbsp;&nbsp;Executive&#8217;s primary place of work shall be the Company&#8217;s offices in Austin, TX, or such other locations designated by the CEO from time to time.&nbsp;&nbsp;Executive shall also render services at such other places within or outside the United States as<font style="font-weight:bold;"> </font>the CEO may direct from time to time.&nbsp;&nbsp;Executive shall be subject to and comply with the policies and procedures generally applicable to employees of the Company to the extent the same are not inconsistent with any term of this Agreement.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a>(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Exclusive Services</font>.&nbsp;&nbsp;Executive shall be employed by the Company on a full time basis.&nbsp;&nbsp;Executive shall at all times faithfully, industriously and to the best of his or her ability, </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">3</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">experience and talent perform to the satisfaction of the Board</font><font style="font-weight:bold;"> </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and the CEO all of the duties that may be assigned to Executive hereunder and shall devote substantially all of his or her productive time and efforts to the performance of such duties.&nbsp;&nbsp;Subject to the terms of the Proprietary Information and Inventions Agreement referred to in Section 5(a), this shall not preclude Executive from devoting time to personal and family investments or serving on community and civic boards, or participating in industry associations, provided such activities do not interfere with his or her duties to the Company, as determined in good faith by the CEO.&nbsp;&nbsp;Executive agrees that he or she will not join any boards, other than community and civic boards (which do not interfere with his or her duties to the Company), without the prior approval of the CEO. </font><font style="font-weight:bold;"> </font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Compensation and Benefits</font>.&nbsp;&nbsp;The Company shall pay or provide, as the case may be, to Executive the compensation and other benefits and rights set forth in this Section 3.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Base Salary</font>.&nbsp;&nbsp;The Company shall pay to Executive a base salary of $260,000<font style="font-weight:bold;font-style:italic;"> </font>per year, payable in accordance with the Company&#8217;s usual pay practices (and in any event no less frequently than monthly).&nbsp;&nbsp;Executive&#8217;s base salary shall be subject to review annually by and at the sole discretion of the Board or its designee.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:54pt;"></font><font style="text-decoration:underline;">Bonus</font>.&nbsp;&nbsp;Executive shall participate in any bonus plan that the Board or its designee may approve for similarly-situated employees of the Company.&nbsp;&nbsp;Executive&#8217;s target bonus under the Company&#8217;s annual bonus plan shall be thirty percent (30%) of Executive&#8217;s base salary (the &#8220;<font style="font-weight:bold;font-style:italic;">Target Bonus</font>&#8221;).&nbsp;&nbsp;Except as expressly provided in this Agreement or in the terms of the annual bonus plan, and subject to Section 4(b)(ii) below, Executive&#8217;s receipt of an annual bonus shall be conditioned on Executive&#8217;s continued employment with the Company on the date such annual bonus is paid.&nbsp;&nbsp;Notwithstanding the foregoing, Executive&#8217;s annual bonus for 2020 shall in no event be less than his Target Bonus for such year and shall be paid on or before March 15, 2021.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:11.72%;">&nbsp;&nbsp;&nbsp;&nbsp;(c) <font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Benefits</font>.&nbsp;&nbsp;Executive shall be entitled to participate in benefits under the Company&#8217;s benefit plans and arrangements, including, without limitation, any employee benefit plan or arrangement made available in the future by the Company to similarly-situated employees, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements. The Company shall have the right to amend or delete any such benefit plan or arrangement made available by the Company to similarly-situated employees and not otherwise specifically provided for herein.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:11.72%;"><font style="margin-left:36pt;">(d)</font><font style="text-decoration:underline;">Expenses</font>.&nbsp;&nbsp;The Company shall reimburse Executive for reasonable out-of-pocket business expenses incurred in connection with the performance of his or her duties hereunder, subject to such policies as the Company may from time to time establish and Executive furnishing the Company with evidence in the form of receipts satisfactory to the Company substantiating the claimed expenditures.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(e)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Paid Time Off</font>.&nbsp;&nbsp;Executive shall be entitled to such periods of paid time off (&#8220;<font style="font-weight:bold;font-style:italic;">PTO</font>&#8221;) each year as provided from time to time under the Company&#8217;s PTO policy and as otherwise provided for similarly-situated employees.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a>(f)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Stock Awards</font>.&nbsp;&nbsp;Executive shall be entitled to participate in any equity or other employee benefit plan that is generally available to similarly-situated employees of the </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">4</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Company. Except as otherwise provided in this Agreement, Executive&#8217;s participation in and benefits under any such plan shall be on the terms and subject to the conditions specified in the governing document of the particular plan.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(g)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Stock Award Acceleration.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(i)In the event of Executive&#8217;s Involuntary Termination, the vesting and/or exercisability of each of Executive&#8217;s outstanding unvested Stock Awards shall be automatically accelerated on the date of Executive&#8217;s termination of employment as to the number of Stock Awards that would vest over the nine (9)</font><font style="font-weight:bold;font-style:italic;"> </font>month period following the date of Executive&#8217;s termination of employment had Executive remained continuously employed by the Company during such period.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(ii)In the event of Executive&#8217;s Involuntary Termination during the period commencing on the Acquisition Agreement Date and ending on the closing of the resulting Change in Control, in addition to any accelerated vesting and/or exercisability to which Executive may be entitled pursuant to clause (i) above, the vesting and/or exercisability of any remaining outstanding unvested portions of such Stock Awards shall be automatically accelerated on the later of (A) the date of Executive&#8217;s Involuntary Termination and (B) the date of the Change in Control.&nbsp;&nbsp;In addition, with respect to Stock Awards granted to Executive on or after the Effective Date, such Stock Awards may be exercised by Executive (or Executive&#8217;s legal guardian or legal representative) until the latest of (A) three (3) months after the date of Executive&#8217;s Separation from Service, (B) with respect to any portion of the Stock Awards that become exercisable on the date of a Change in Control pursuant to this Section 3(g)(ii), three (3) months after the date of the Change in Control, or (C) such longer period as may be specified in the applicable Stock Award agreement; provided, however, that in no event shall any Stock Award remain exercisable beyond the original outside expiration date of such Stock Award.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iii)In the event of a Change in Control, the vesting and/or exercisability of any outstanding unvested portions of such Stock Awards shall be automatically accelerated on the date of such Change in Control, provided that Executive remains in the employ or service of the Company as of the closing of such Change in Control.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(iv)The vesting pursuant to clauses (i), (ii) and (iii) of this Section 3(g) shall be cumulative.&nbsp;&nbsp;The foregoing provisions are hereby deemed to be a part of each Stock Award and to supersede any less favorable provision in any agreement or plan regarding such Stock Award.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severance</font>.&nbsp;&nbsp;Executive shall be entitled to receive benefits upon a termination of employment only as set forth in this Section 4:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">At-Will Employment; Termination</font>.&nbsp;&nbsp;The Company and Executive acknowledge that Executive&#8217;s employment is and shall continue to be at-will, as defined under applicable law, and that Executive&#8217;s employment with the Company may be terminated by either party at any time for any or no reason, with or without notice.&nbsp;&nbsp;If Executive&#8217;s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in this Agreement.&nbsp;&nbsp;Executive&#8217;s employment under this Agreement shall be terminated immediately on the death of Executive.&nbsp;&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">5</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU6"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)</font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severance Upon Involuntary Termination</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp; Subject to Sections 4(d) and 9(o) and Executive&#8217;s continued compliance with Section 5, if Executive&#8217;s employment is Involuntarily Terminated, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance plan or program of the Company, the benefits provided below:</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(i)<font style="margin-left:36pt;">the Company shall pay to Executive his or her fully earned but unpaid base salary, when due, through the date of Executive&#8217;s Involuntary Termination at the rate then in effect, all accrued but unused PTO, plus all other amounts or benefits to which Executive is entitled under any compensation, retirement or benefit plan or practice of the Company at the time of termination in accordance with the terms of such plans or practices, including, without limitation, any continuation of benefits required by COBRA or applicable law;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_Hlk31727128"></a>(ii)<font style="margin-left:36pt;"><a name="_Hlk31727128"></a>Executive shall be entitled to receive severance pay in an amount equal to </font>the sum of (A) twelve (12) multiplied by Executive&#8217;s monthly base salary as in effect immediately prior to the date of Executive&#8217;s Involuntary Termination, plus (B) an amount equal to Executive&#8217;s Target Bonus for the year in which Executive&#8217;s Involuntary Termination occurs, plus (C) to the extent such Involuntary Termination occurs prior to the payment to Executive of his annual bonus for the calendar year preceding the date of such Involuntary Termination, the amount of his annual bonus for such completed calendar year (which amount for 2020 shall in no event be less than his Target Bonus for such year), plus (D) an amount equal to twelve (12) multiplied by the monthly premium Executive is required to pay for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (&#8220;<font style="font-weight:bold;font-style:italic;">COBRA</font>&#8221;) for Executive and his or her eligible dependents who were covered under the Company&#8217;s health plans as of the date of Executive&#8217;s Involuntary Termination (calculated by reference to the premium as of the date of Executive&#8217;s Involuntary Termination), which amounts will be payable in a lump sum within ten (10) days following the effective date of Executive&#8217;s Release; </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:0.98%;text-indent:22.46%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(iii)<font style="margin-left:36pt;">the vesting acceleration provided under Section 3(g) above; and</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(iv)<font style="margin-left:36pt;">Notwithstanding anything to the contrary in this Section 4(b), and subject to Sections 4(d) and 9(o) and Executive&#8217;s continued compliance with Section 5, in the event Executive&#8217;s Involuntary Termination occurs (A) during the period commencing on the Acquisition Agreement Date and ending on the closing of the resulting Change in Control, or (B) within twelve (12) months following a Change in Control, (1) the references to </font>twelve (12) months in clause (ii) above shall be increased to eighteen (18) months, and (2) Executive&#8217;s monthly base salary for purposes of clause (ii)(A) above shall be equal to the greater of (x) Executive&#8217;s monthly base salary as in effect immediately prior to the date of Executive&#8217;s Involuntary Termination, or (y) Executive&#8217;s monthly base salary as of the Acquisition Agreement Date, which amounts, to the extent in excess of the amounts to be paid to Executive as a result of his Involuntary Termination pursuant to clause (ii) above, shall be payable in a lump sum within ten (10) days following the later of (A) the effective date of Executive&#8217;s Release and (B) the date of the Change in Control.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU7"></a> (c)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Termination for Cause or Voluntary Resignation Without Good Reason</font>.&nbsp;&nbsp;In the event of Executive&#8217;s termination of employment as a result of Executive&#8217;s discharge by the Company for Cause, Executive&#8217;s resignation without Good Reason, or Executive&#8217;s death or termination of employment by reason of discharge by the Company following Executive&#8217;s </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">6</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">extended disability (as defined in Section 1(c) above), the Company shall not have any other or further obligations to Executive under this Agreement (including any financial obligations) except that Executive shall be entitled to receive (i) Executive&#8217;s fully earned but unpaid base salary, through the date of termination at the rate then in effect, (ii) all accrued but unused PTO, and (iii) all other amounts or benefits to which Executive is entitled under any compensation, retirement or benefit plan or practice of the Company at the time of termination in accordance with the terms of such plans or practices, including, without limitation, any continuation of benefits required by COBRA or applicable law.&nbsp;&nbsp;In addition, all vesting of Executive&#8217;s unvested Stock Awards previously granted to him or her by the Company shall cease and none of such unvested Stock Awards shall be exercisable following the date of such termination.&nbsp;&nbsp;The foregoing shall be in addition to, and not in lieu of, any and all other rights and remedies which may be available to the Company under the circumstances, whether at law or in equity.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Release</font>.&nbsp;&nbsp;As a condition to Executive&#8217;s receipt of any post-termination benefits pursuant to Section 4(b) above, Executive shall execute and not revoke a general release of all claims in favor of the Company (the &#8220;<font style="font-weight:bold;font-style:italic;">Release</font>&#8221;) in the form attached hereto as <font style="text-decoration:underline;">Exhibit A</font>.&nbsp;&nbsp;In the event the Release does not become effective within the thirty (30) day period following the date of Executive&#8217;s termination of employment, Executive shall not be entitled to the aforesaid payments and benefits.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(e)</font><font style="text-decoration:underline;">Exclusive Remedy</font>.&nbsp;&nbsp;Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive&#8217;s rights to salary, severance, benefits, bonuses and other amounts hereunder (if any) accruing after the termination of Executive&#8217;s employment shall cease upon such termination.&nbsp;&nbsp;In the event of Executive&#8217;s termination of employment with the Company, Executive&#8217;s sole remedy shall be to receive the payments and benefits described in this Section 4.&nbsp;&nbsp;In addition, Executive acknowledges and agrees that he or she is not entitled to any reimbursement by the Company for any taxes payable by Executive as a result of the payments and benefits received by Executive pursuant to this Section 4, including, without limitation, any excise tax imposed by Section 4999 of the Code.&nbsp;&nbsp;Any payments made to Executive under this Section 4 shall be inclusive of any amounts or benefits to which Executive may be entitled pursuant to the Worker Adjustment and Retraining Notification Act, 29 U.S.C. Sections 2101 et seq., and the Department of Labor regulations thereunder, or any similar statute.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;">(f)</font><font style="text-decoration:underline;">No Mitigation</font>.&nbsp;&nbsp;Executive shall not be required to mitigate the amount of any payment provided for in this Section 4 by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Section 4 be reduced by any compensation earned by Executive as the result of employment by another employer or self-employment or by retirement benefits; <font style="text-decoration:underline;">provided</font>, <font style="text-decoration:underline;">however</font>, that loans, advances or other amounts owed by Executive to the Company may be offset by the Company against amounts payable to Executive under this Section 4.<font style="font-size:13pt;">&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU8"></a>(g)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Return of the Company&#8217;s Property</font>.&nbsp;&nbsp;In the event of Executive&#8217;s termination of employment for any reason, the Company shall have the right, at its option, to require Executive to vacate his or her offices prior to or on the effective date of separation and to cease all activities on the Company&#8217;s behalf.&nbsp;&nbsp;Upon Executive&#8217;s termination of employment in any manner, as a condition to Executive&#8217;s receipt of any severance benefits described in this Agreement, Executive shall immediately surrender to the Company all lists, books and records of, or in connection with, </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">7</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the Company&#8217;s business, and all other property belonging to the Company, it being distinctly understood that all such lists, books and records, and other documents, are the property of the Company.&nbsp;&nbsp;Executive shall deliver to the Company a signed statement certifying compliance with this Section 4(g) prior to the receipt of any severance benefits described in this Agreement.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.81%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Certain Covenants</font>.</p>
<p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;margin-left:7.81%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Proprietary Information</font>.&nbsp;&nbsp;Executive and the Company have entered into the Company&#8217;s standard employee proprietary information and inventions agreement (the &#8220;<font style="font-weight:bold;font-style:italic;">Employee Proprietary Information and Inventions Agreement</font>&#8221;).&nbsp;&nbsp;Executive agrees to perform each and every obligation of Executive therein contained.</p>
<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Rights and Remedies Upon Breach</font>.&nbsp;&nbsp;If Executive breaches or threatens to commit a breach of any of the provisions of this Section&#160;5 (the &#8220;<font style="font-weight:bold;font-style:italic;">Restrictive Covenants</font>&#8221;), the Company shall have, in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity, the right to immediately cease all payments and benefits under Section 4(b) above.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(c)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Whistleblower Provision</font>. Nothing herein shall be construed to prohibit Executive from communicating directly with, cooperating with, or providing information to, any government regulator, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice. Executive acknowledges that the Company has provided Executive with the following notice of immunity rights in compliance with the requirements of the Defend Trade Secrets Act: (i) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of proprietary information of the Company that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (ii) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of proprietary information of the Company that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (iii) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the proprietary information to my attorney and use the proprietary information in the court proceeding, if Executive files any document containing the proprietary information under seal, and does not disclose the proprietary information, except pursuant to court order.</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Insurance; Indemnification</font>.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Insurance</font>.&nbsp;&nbsp;The Company shall have the right to take out life, health, accident, &#8220;key-man&#8221; or other insurance covering Executive, in the name of the Company and at the Company&#8217;s expense in any amount deemed appropriate by the Company.&nbsp;&nbsp;Executive shall assist the Company in obtaining such insurance, including, without limitation, submitting to any required examinations and providing information and data required by insurance companies.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="_AEIOULastRenderedPageBreakAEIOU9"></a>(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Indemnification</font>.&nbsp;&nbsp;Executive will be provided with indemnification against third party claims related to his or her work for the Company as required by Delaware law.&nbsp;&nbsp;The Company shall provide Executive with directors and officers liability insurance coverage at least </p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">8</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">as favorable as that which the Company may maintain from time to time for members of the Board and other executive officers.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK1"></a><a name="OLE_LINK2"></a>7.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Arbitration</font>.&nbsp;&nbsp;Except as prohibited by law, any legal dispute between the Executive and the Company (or between the Executive and any affiliate of the Company, each of whom is hereby designated a third party beneficiary of this Agreement regarding arbitration) arising out of the Executive&#8217;s employment or cessation of employment, or arising out of the Executive&#8217;s directorship or resignation from his director position, or this Agreement (a "Dispute") will be resolved through binding arbitration in Dallas, Texas, under the rules and procedures of the Texas General Arbitration Act, Texas Civil Practices and Remedies Code, Section 171.001 et seq., and pursuant to Texas law. Nothing in this arbitration provision is intended to limit the Executive&#8217;s right to file a charge with or obtain relief from the National Labor Relations Board.&nbsp;&nbsp;THE PARTIES UNDERSTAND THAT BY AGREEING TO ARBITRATE DISPUTES THEY ARE WAIVING ANY RIGHT THEY MIGHT OTHERWISE HAVE TO A JURY TRIAL. This arbitration provision is not intended to modify or limit substantive rights or the remedies available to the parties, including the right to seek interim relief, such as injunction or attachment, through judicial process, which shall not be deemed a waiver of the right to demand and obtain arbitration. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">General Relationship</font>.&nbsp;&nbsp;Executive shall be considered an employee of the Company within the meaning of all federal, state and local laws and regulations including, but not limited to, laws and regulations governing unemployment insurance, workers&#8217; compensation, industrial accident, labor and taxes.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-left:7.81%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Miscellaneous</font>.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(a)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Modification; Prior Claims</font>.&nbsp;&nbsp;This Agreement and the Employee Proprietary Information and Inventions Agreement set forth the entire understanding of the parties with respect to the subject matter hereof,&nbsp;&nbsp;and supersede all existing agreements between them concerning such subject matter, including, without limitation, any employment agreement or offer letter executed by the Company and Executive in effect prior to the Effective Date between the Company and Executive.&nbsp;&nbsp;This Agreement may be amended or modified only with the written consent of Executive and an authorized representative of the Company.&nbsp;&nbsp;No oral waiver, amendment or modification will be effective under any circumstances whatsoever.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(b)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Assignment; Assumption by Successor</font>.&nbsp;&nbsp;The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company.&nbsp;&nbsp;The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder. &#160;As used in this Agreement, the &#8220;<font style="text-decoration:underline;">Company</font>&#8221; shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or otherwise.</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">9</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU10"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(c)</font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Survival</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;The covenants, agreements, representations and warranties contained in or made in Sections&#160;3(g), 4, 5, 6, 7 and 9 of this Agreement shall survive any Executive&#8217;s termination of employment.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Third&#8209;Party Beneficiaries</font>.&nbsp;&nbsp;This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person not a party to this Agreement.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(e)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Waiver</font>.&nbsp;&nbsp;The failure of either party hereto at any time to enforce performance by the other party of any provision of this Agreement shall in no way affect such party&#8217;s rights thereafter to enforce the same, nor shall the waiver by either party of any breach of any provision hereof be deemed to be a waiver by such party of any other breach of the same or any other provision hereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(f)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Section Headings</font>.&nbsp;&nbsp;The headings of the several sections in this Agreement are inserted solely for the convenience of the parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(g)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Notices</font>.&nbsp;&nbsp;Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given as indicated:&nbsp;&nbsp;(i) by personal delivery when delivered personally; (ii) by overnight courier upon written verification of receipt; (iii) by email, telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt.&nbsp;&nbsp;Notice shall be sent to Executive at the address listed on the Company&#8217;s personnel records and to the Company at its principal place of business, or such other address as either party may specify in writing.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(h)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severability</font>.&nbsp;&nbsp;All Sections, clauses and covenants contained in this Agreement are severable, and in the event any of them shall be held to be invalid by any court, this Agreement shall be interpreted as if such invalid Sections, clauses or covenants were not contained herein.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(i)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Governing Law and Venue</font>.&nbsp;&nbsp;This Agreement is to be governed by and construed in accordance with the laws of the State of Texas applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.&nbsp;&nbsp;Except as provided in Sections&#160;5 and 7, any suit brought hereon shall be brought in the state or federal courts sitting in Travis County, Texas, the parties hereto hereby waiving any claim or defense that such forum is not convenient or proper.&nbsp;&nbsp;Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by Texas law.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(j)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Non-transferability of Interest</font>.&nbsp;&nbsp;None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Executive.&nbsp;&nbsp;Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in the rights of Executive to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void.</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">10</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU11"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(k)</font><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Gender</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.&nbsp;&nbsp;Where the context so requires, the use of the masculine gender shall include the feminine and/or neuter genders and the singular shall include the plural, and vice versa, and the word &#8220;person&#8221; shall include any corporation, firm, partnership or other form of association.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(l)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Counterparts; Facsimile or .pdf Signatures</font>.&nbsp;&nbsp;This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same agreement.&nbsp;&nbsp;This Agreement may be executed and delivered by facsimile or by .pdf file and upon such delivery the facsimile or .pdf signature will be deemed to have the same effect as if the original signature had been delivered to the other party.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(m)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Construction</font>.&nbsp;&nbsp;The language in all parts of this Agreement shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto.&nbsp;&nbsp;Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Agreement or any part thereof.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:15.62%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(n)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Withholding and other Deductions</font>.&nbsp;&nbsp;All compensation payable to Executive hereunder shall be subject to such deductions as the Company is from time to time required to make pursuant to law, governmental regulation or order.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;margin-right:7.81%;text-indent:15.62%;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(o)<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Code Section 409A</font>.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="margin-left:36pt;"></font><font style="font-weight:normal;">(i)</font><font style="margin-left:36pt;"></font><font style="text-decoration:none;color:#auto;">This Agreement is not intended to provide for any deferral of compensation subject to Section 409A of the Code, and, accordingly, the severance payments payable under Sections 4(b)(ii) and (iv) shall be paid no later than the later of:&nbsp;&nbsp;(A) the fifteenth (15th) day of the third month following Executive&#8217;s first taxable year in which such amounts are no longer subject to a substantial risk of forfeiture, and (B) the fifteenth (15th) day of the third month following first taxable year of the Company in which such amounts are is no longer subject to substantial risk of forfeiture, as determined in accordance with Code Section 409A and any Treasury Regulations and other guidance issued thereunder.&nbsp;&nbsp;To the extent applicable, this Agreement shall be interpreted in accordance with Code Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder.&nbsp;&nbsp;Each series of installment payments made under this Agreement is hereby designated as a series of &#8220;separate payments&#8221; within the meaning of Section 409A of the Code.&nbsp;&nbsp; </font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#auto;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><a name="OLE_LINK8"></a><a name="OLE_LINK7"></a><a name="_AEIOULastRenderedPageBreakAEIOU12"></a><font style="text-decoration:none;"></font><font style="text-decoration:none;margin-left:36pt;"></font><font style="text-decoration:none;">(ii)</font><font style="text-decoration:none;margin-left:36pt;"></font><font style="font-weight:normal;color:#000000;"><a name="OLE_LINK8"></a><a name="OLE_LINK7"></a>Notwithstanding anything herein to the contrary, to the extent any payments to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">pursuant to Section 4(b)) are treated as non-qualified deferred compensation subject to Section 409A of the Code, then (A) no amount shall be payable pursuant to such section unless </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> termination of employment constitutes a &#8220;separation from service&#8221; with the Company (as such term is defined in Treasury Regulation Section 1.409A-1(h) and any successor provision thereto) (a &#8220;</font><font style="font-style:italic;color:#000000;">Separation from Service</font><font style="font-weight:normal;color:#000000;">&#8221;), (B) any such payment payable under Section 4(b)(ii) or (iv) shall be paid on the sixtieth (60th) day following (1) Executive&#8217;s Separation from Service (with respect to payments pursuant to Section 4(b)(ii) or (2) the later of Executive&#8217;s Separation from Service or the date of the Change in Control, as applicable (with respect to payments pursuant to Section 4(b)(iv)), and (C) if </font><font style="font-weight:normal;color:#000000;">Executive</font><font style="font-weight:normal;color:#000000;">, at the time of his or her Separation from Service, is determined by the Company to be a &#8220;specified employee&#8221; for purposes of Section 409A(a)(2)(B)(i) of the Code and the Company determines that delayed commencement </font></p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">11</font><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#auto;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;color:#000000;">of any portion of the termination benefits payable to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">pursuant to this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code (any such delayed commencement, a &#8220;</font><font style="font-style:italic;color:#000000;">Payment Delay</font><font style="font-weight:normal;color:#000000;">&#8221;), then such portion of </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> termination benefits described in Section 4(b) shall not be provided to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">prior to the earlier of (A) the expiration of the six-month period measured from the date of </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> Separation from Service, (B) the date of </font><font style="font-weight:normal;color:#000000;">Executive&#8217;s</font><font style="font-weight:normal;color:#000000;"> death or (C) such earlier date as is permitted under Section 409A.&nbsp;&nbsp;Upon the expiration of the applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to a Payment Delay shall be paid in a lump sum to </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">within ten (10) days following such expiration, and any remaining payments due under the Agreement shall be paid as otherwise provided herein.&nbsp;&nbsp;The determination of whether </font><font style="font-weight:normal;color:#000000;">Executive </font><font style="font-weight:normal;color:#000000;">is a &#8220;specified employee&#8221; for purposes of Section 409A(a)(2)(B)(i) of the Code as of the time of his or her Separation from Service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any successor provision thereto).</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:23.44%;color:#auto;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:none;">(i)</font><font style="text-decoration:none;margin-left:54pt;"></font><font style="font-weight:normal;color:#000000;">To the extent applicable, this Agreement shall be interpreted in accordance with the applicable exemptions from Section 409A of the Code.&nbsp;&nbsp;If Executive and the Company determine that any payments or benefits payable under this Agreement intended to comply with Sections 409A(a)(2), (3) and (4) of the Code do not comply with Section 409A of the Code, Executive and the Company agree to amend this Agreement, or take such other actions as Executive and the Company deem reasonably necessary or appropriate, to comply with the requirements of Section 409A of the Code and the Treasury Regulations thereunder (and any applicable transition relief) while preserving the economic agreement of the parties.&nbsp;&nbsp;To the extent that any provision in this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner that no payments payable under this Agreement shall be subject to an &#8220;additional tax&#8221; as defined in Section 409A(a)(1)(B) of the Code.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:23.44%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(ii)<font style="margin-left:54pt;"></font>Any reimbursement of expenses or in-kind benefits payable under this Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of Executive&#8217;s taxable year following the taxable year in which Executive incurred the expenses.&nbsp;&nbsp;The amount of expenses reimbursed or in-kind benefits payable during any taxable year of Executive&#8217;s shall not affect the amount eligible for reimbursement or in-kind benefits payable in any other taxable year of Executive&#8217;s, and Executive&#8217;s right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[Signature Page Follows]</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.81%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;font-size:6pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.81%;"><font style="font-size:12pt;">12</font></a><font style="margin-left:36pt;"></font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU13"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth above.</font></p>
<p style="margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-variant: small-caps;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;text-indent:7.69%;"><font style="margin-left:36pt;"></font><font style="font-weight:bold;">PLUS THERAPEUTICS, Inc.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;">By: </font><font style="text-decoration:underline;">/s/Marc Hedrick, M.D.</font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="text-decoration:underline;"><br /></font><font style="margin-left:36pt;">Name: </font>Marc Hedrick, M.D.<font style="margin-left:36pt;"></font><br /><font style="margin-left:36pt;">Title: </font>Chief Executive Officer</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-size:12pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;text-indent:7.69%;"><font style="margin-left:36pt;">Executive</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;"></font><font style="text-decoration:underline;">&#160;/s/ Andrew Sims</font><font style="text-decoration:underline;margin-left:36pt;"></font><br /><font style="margin-left:36pt;">Print Name: </font>Andrew Sims</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURE PAGE TO EMPLOYMENT AGREEMENT</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU14"></a><font style="font-weight:bold;text-transform:uppercase;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;">Exhibit A</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:13pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">GENERAL RELEASE OF CLAIMS</font></p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"><a name="_DV_C6"></a>&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;color:#auto;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:none;">[</font><font style="font-style:italic;text-decoration:none;">The language in this Release may change based on legal developments and evolving best practices; this form is provided as an example of what will be included in the final Release document.</font><font style="text-decoration:none;">]</font></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">This General Release of Claims (&#8220;<font style="font-weight:bold;font-style:italic;">Release</font>&#8221;) is entered into as of this [_____] day of [________], [____], between Andrew Sims (&#8220;<font style="font-weight:bold;font-style:italic;">Executive</font>&#8221;), and Plus Therapeutics, Inc., a Delaware corporation (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;) (collectively referred to herein as the &#8220;<font style="font-weight:bold;font-style:italic;">Parties</font>&#8221;).</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">WHEREAS, Executive and the Company are parties to that certain Employment Agreement dated as of March 11, 2020 (the &#8220;<font style="font-weight:bold;font-style:italic;">Agreement</font>&#8221;);</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">WHEREAS, the Parties agree that Executive is entitled to certain severance benefits under the Agreement, subject to Executive&#8217;s execution of this Release; and</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">WHEREAS, the Company and Executive now wish to fully and finally to resolve all matters between them.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Executive pursuant to the Agreement, the adequacy of which is hereby acknowledged by Executive, and which Executive acknowledges that he would not otherwise be entitled to receive, Executive and the Company hereby agree as follows:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">1.<font style="text-decoration:underline;">General Release of Claims by Executive</font>.&nbsp;&nbsp;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU15"></a>(a)Executive, on behalf of himself or herself and his or her executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his or her employment with or service to the Company (collectively, the &#8220;<font style="font-weight:bold;font-style:italic;">Company Releasees</font>&#8221;), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys&#8217; fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, &#8220;<font style="font-weight:bold;font-style:italic;">Claims</font>&#8221;), which Executive has or may have had against such Company Releasees based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive&#8217;s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, </p></td></tr></table></div>
<p style="margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:6pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91435681.3</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Americans with Disabilities Act, as amended, 42&#160;U.S.C. &#167;&#160;12101 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Rehabilitation Act of 1973, as amended, 29&#160;U.S.C. &#167;&#160;701 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">. (the &#8220;</font><font style="font-weight:bold;font-style:italic;">ADEA</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8221;); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Family and Medical Leave Act, as amended, 29&#160;U.S.C.&#160;&#167;&#160;2601 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; the Fair Labor Standards Act of 1938, as amended, 29&#160;U.S.C. &#167;&#160;201 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.; </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the Employee Retirement Income Security Act, as amended, 29 U.S.C. &#167;&#160;1001 </font><font style="text-decoration:underline;">et</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="text-decoration:underline;">seq</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Notwithstanding the generality of the foregoing, Executive does not release the following claims:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(i)Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law; </p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-indent:36px;"></p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(ii)Claims for workers&#8217; compensation insurance benefits under the terms of any worker&#8217;s compensation insurance policy or fund of the Company; </p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(iii)Claims pursuant to the terms and conditions of the federal law known as COBRA;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
<td valign="top">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(iv)Claims for indemnity under the bylaws of the Company, as provided for by Texas law <font style="color:#000000;">or under any applicable insurance policy with respect to Executive&#8217;s liability as an employee, director or officer of the Company</font>;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(v)Executive&#8217;s right to bring to the attention of the Equal Employment Opportunity Commission, the Texas Labor Code (including the Texas Payday Act), the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, the Texas Whistleblower Act, the Texas Commission on Human Rights Act or any other federal, state or local government agency claims of discrimination, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local government agency; provided, however, that Executive does release his or her right to secure any damages for alleged discriminatory treatment;</p>
<p style="text-indent:36px;">(v)Executive&#8217;s right to bring to the attention of the Equal Employment Opportunity Commission, the Texas Labor Code (including the Texas Payday Act), the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, the Texas Whistleblower Act, the Texas Commission on Human Rights Act or any other federal, state or local government agency claims of discrimination, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local government agency; provided, however, that Executive does release his or her right to secure any damages for alleged discriminatory treatment;</p>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<tr>
<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(vi)<font style="color:#000000;">Claims based on any right Executive may have to enforce the Company&#8217;s executory obligations under the Agreement; and</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;margin-left:7.69%;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(vii)Claims Executive may have to vested or earned compensation and benefits.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-indent:0px;"></p>
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<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(b)EXECUTIVE <font style="text-transform:uppercase;">ACKNOWLEDGES THAT HE OR she </font>HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2</a></p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91435681.3</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU16"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;">&#8220;A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS </font><font style="font-weight:bold;">THAT </font><font style="font-weight:bold;">THE CREDITOR </font><font style="font-weight:bold;">OR RELEASING PARTY </font><font style="font-weight:bold;">DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE</font><font style="font-weight:bold;"> AND THAT</font><font style="font-weight:bold;">, IF KNOWN BY HIM OR HER, </font><font style="font-weight:bold;">WOULD </font><font style="font-weight:bold;">HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR</font><font style="font-weight:bold;"> OR RELEASED PARTY</font><font style="font-weight:bold;">.&#8221;</font></p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE OR SHE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.</p></td></tr></table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:center;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:12pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">[Note:&nbsp;&nbsp;Clauses (c), (d) and (e) apply only if Executive is age 40 or older at time of termination]</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(c)&nbsp;&nbsp;Executive acknowledges that this Release was presented to him or her on the date indicated above and that Executive is entitled to have twenty-one (21) days&#8217; time in which to consider it.&nbsp;&nbsp;Executive further acknowledges that the Company has advised him or her that he or she is waiving her rights under the ADEA, and that Executive should consult with an attorney of his or her choice before signing this Release, and Executive has had sufficient time to consider the terms of this Release.&nbsp;&nbsp;Executive represents and acknowledges that if Executive executes this Release before twenty-one (21) days have elapsed, Executive does so knowingly, voluntarily, and upon the advice and with the approval of Executive&#8217;s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(d)&nbsp;&nbsp;Executive understands that after executing this Release, Executive has the right to revoke it within seven (7) days after his or her execution of it.&nbsp;&nbsp;Executive understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Executive does not revoke the Release in writing.&nbsp;&nbsp;Executive understands that this Release may not be revoked after the seven (7) day revocation period has passed.&nbsp;&nbsp;Executive also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of business within the seven (7) day period.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(e)&nbsp;&nbsp;Executive understands that this Release shall become effective, irrevocable, and binding upon Executive on the eighth (8<sup style="font-size:85%;line-height:120%;vertical-align:top">th</sup>) day after his or her execution of it, so long as Executive has not revoked it within the time period and in the manner specified in clause (d) above.&nbsp;&nbsp;</p></td></tr></table></div>
<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></p></td>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">(f)Executive further understands that Executive will not be given any severance benefits under the Agreement unless this Release is effective on or before the date that is thirty (30) days following the date of Executive&#8217;s termination of employment.</p></td></tr></table></div>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:13pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;Background-color:#FFFFFF;font-size:12pt;">Nondisparagement</font><font style="Background-color:#FFFFFF;font-size:12pt;">. The parties agree that each will use its reasonable best efforts to not make any voluntary statements, written or verbal, or cause or encourage others to make any such statements that defame, disparage or in any way criticize the reputation, business practices or conduct of Executive (in the case of the Company) or the Company or any of the other Company Releasees (in the case of Executive).</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU17"></a>3.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Whistleblower Provision</font>.&nbsp;&nbsp;<font style="margin-left:36pt;">Nothing herein shall be construed to prohibit Executive from communicating directly with, cooperating with, or providing information to, any </font></p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;">&nbsp;</p>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91435681.3</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">government regulator, including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice. Executive acknowledges that the Company has provided Executive with the following notice of immunity rights in compliance with the requirements of the Defend Trade Secrets Act: (a) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Proprietary Information (as defined in the </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Agreement)</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (b) Executive shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Proprietary Information that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (c) if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the Proprietary Information to my attorney and use the Proprietary Information in the court proceeding, if Executive files any document containing the Proprietary Information under seal, and does not disclose the Proprietary Information, except pursuant to court order.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">No Assignment</font>.&nbsp;&nbsp;Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees.&nbsp;&nbsp;Executive agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys&#8217; fees incurred as a result of any such assignment or transfer from Executive.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-weight:normal;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">5.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Severability</font>.&nbsp;&nbsp;In the event any provision of this Release is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law.&nbsp;&nbsp;If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. </p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">6.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Interpretation; Construction</font>.&nbsp;&nbsp;The headings set forth in this Release are for convenience only and shall not be used in interpreting this Agreement.&nbsp;&nbsp;This Release has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms.&nbsp;&nbsp;Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Release and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Release.&nbsp;&nbsp;Either party&#8217;s failure to enforce any provision of this Release shall not in any way be construed as a waiver of any such provision, or prevent that party thereafter from enforcing each and every other provision of this Release.</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU18"></a>7.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Governing Law and Venue</font>.&nbsp;&nbsp;This Release will be governed by and construed in accordance with the laws of the United States of America and the State of Texas applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.&nbsp;&nbsp;Any suit brought hereon shall be brought in the state or federal courts sitting in Travis County, Texas, the Parties hereby waiving any claim or defense that such forum </p>
<p style="text-align:center;margin-top:12pt;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">US-DOCS\91435681.3</p>
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<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">is not convenient or proper.&nbsp;&nbsp;Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by </font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Texas</font><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> law.</font></p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Entire Agreement</font>.&nbsp;&nbsp;This Release and the Agreement constitute the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations and agreements, whether written or oral.&nbsp;&nbsp;This Release may be amended or modified only with the written consent of Executive and an authorized representative of the Company.&nbsp;&nbsp;No oral waiver, amendment or modification will be effective under any circumstances whatsoever.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9.<font style="margin-left:36pt;"></font><font style="text-decoration:underline;">Counterparts</font>.&nbsp;&nbsp;This Release may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same agreement.&nbsp;&nbsp;This Release may be executed and delivered by facsimile or by .pdf file and upon such delivery the facsimile or .pdf signature will be deemed to have the same effect as if the original signature had been delivered to the other party.</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Signature Page Follows) </p>
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<p style="text-align:justify;margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU19"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing Release as of the date first written above.</font></p></td></tr></table></div>
<p style="margin-top:0pt;margin-bottom:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:12pt;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;">Executive<font style="margin-left:36pt;"></font>Plus Therapeutics, Inc.</p>
<p style="margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;"></font>&nbsp;</p>
<p style="margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="text-decoration:underline;"></font><font style="text-decoration:underline;margin-left:36pt;"></font><font style="margin-left:36pt;">By:&nbsp;&nbsp;</font><font style="text-decoration:underline;margin-left:36pt;"></font></p>
<p style="margin-bottom:12pt;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;">Print Name:&nbsp;&nbsp;Andrew Sims<font style="margin-left:36pt;"></font><font style="font-weight:bold;font-style:italic;margin-left:36pt;"></font><font style="margin-left:36pt;">Print Name:&nbsp;&nbsp;</font><font style="text-decoration:underline;margin-left:36pt;"></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;"><font style="margin-left:36pt;">Title:</font> <font style="text-decoration:underline;margin-left:36pt;"></font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;"><a name="_Hlk28862922"></a>&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Plus Therapeutics Welcomes Two New Directors - </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:11pt;text-transform:none;font-variant: normal;">Dr. Robert Lenk and Mr. Howard Clowes </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">AUSTIN, Texas, March 12, 2020 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq:&#160;<font style="color:#auto;text-decoration:underline;">PSTV</font>) (the &#8220;Company&#8221;), today announced that Dr. Robert Lenk and Mr. Howard Clowes will join the Company&#8217;s Board of Directors to serve as independent directors, effective&#160;April 1, 2020.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dr. Lenk has over 35 years as pharmaceutical executive with deep expertise in nanoparticle drug development and drug formulation. He is currently President of Lenk Pharmaceuticals, a pharmaceuticals development consultant to multinational corporations and startups. Previously, Dr. Lenk has been Chief Scientific Officer of MediVector, Inc., President of the NanoWorks division of Luna Innovations, Inc., President &amp; CEO of Therapeutics 2000, Inc. and Vice President of Research &amp; Development at Argus Pharmaceuticals. Dr. Lenk was also Cofounder of The Liposome Co. and a Staff Fellow of the National Institute of Child Health and Human Development. He has a PhD and BS from the Massachusetts Institute of Technology and resides in Danville, VA.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A retired partner after nearly four decades at DLA Piper, a leading law firm, Mr. Clowes has served in leadership positions in the firm&#8217;s Corporate and Securities Practice, advising public and private companies on securities law, financing, Mergers and Acquisition and general corporate matters. At the law firm of Gray Cary Ware &amp; Freidenrich LLP, which was acquired by DLA Piper, he served as a partner in the Corporate Group, member of the Executive Committee and managing partner of the Transactions Group. Mr. Clowes has a J.D. from the University of California, Berkeley (where he now serves as a Lecturer), and a BA from the University of California, Santa Barbara. A resident of the Bay Area, Mr. Clowes served as President, Board Member and Chair of the Strategic Planning and Search Committee of the Law Foundation of Silicon Valley.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">"We are extremely pleased that two such accomplished industry veterans have agreed to join our board of directors,&#8221; said Dr. Marc Hedrick, President and CEO of Plus Therapeutics.  &#8220;Howard has been a longstanding and esteemed partner at a leading law firm, while Robert is a highly regarded C-level executive in the pharmaceutical industry. With decades of high-level experience, Howard and Robert bring a tremendous depth of knowledge and capabilities to our Board.&#8221; </p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">About Plus Therapeutics, Inc.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on the discovery, development, and delivery of complex and innovative treatments for patients battling cancer and rare diseases.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our proprietary nanotechnology platform is currently centered around the enhanced delivery of a variety of drugs using novel liposomal encapsulation technology. Liposomal encapsulation has been extensively explored and undergone significant technical and commercial advances since it was first developed. Our platform is designed to facilitate new delivery approaches and/or formulations of safe and effective, injectable drugs, potentially enhancing the safety, efficacy and convenience for patients and healthcare providers.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Our lead product candidate, DocePLUS, is a protein-stabilized PEGylated liposomal formulation of docetaxel, for which the process of preparation is patented. The active pharmaceutical ingredient, docetaxel, was approved by the U.S. FDA in 1999 and commonly used for treating cancers of the breast, head, neck, stomach, prostate, and lung.&#160;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;font-size:11pt;font-style:normal;text-transform:none;font-variant: normal;">Cautionary Statement Regarding Forward-Looking Statements</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This press release contains certain statements that may be deemed &#8220;forward-looking statements&#8221; within the meaning of U.S. securities laws. All statements, other than statements of historical fact, that address activities, events or developments that we intend, expect, project, believe or anticipate and similar expressions or future conditional verbs such as will, should, would, could or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These statements include, without limitation, statements about</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">:</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> the Company&#8217;s potential to facilitate new delivery approaches and/or formulations of safe and effective, injectable drugs, potentially enhancing the safety, efficacy and convenience for patients and healthcare providers</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">; the Company&#8217;s potential to develop a market leading position; </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">and </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the potential </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">for</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, and timing of, the Company&#8217;s submission of a Phase 2 clinical trial protocol in Small Cell Lung Cancer patients with platinum-sensitive disease who progressed at least 60 days after initiation of first-line chemotherapy</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">. The forward-looking statements included in this press release are subject to a number of additional material risks and uncertainties, including but not limited to</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">:</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> the</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">risk </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">that the</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> U.S. FDA does not accept the Company&#8217;s submission of a Phase 2 clinical trial protocol in Small Cell Lung Cancer patients with platinum-sensitive disease who progressed at least 60 days after initiation of first-line chemotherapy; </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">risk</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> that</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> the Company is not able to successfully develop product</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> candidates that can leverage</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> the U.S. FDA&#8217;s accelerated regulatory pathways; and</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> the risks described under the heading &#8220;Risk Factors&#8221; in the Company&#8217;s Securities and Exchange Commission filings, including in the Company&#8217;s annual and quarterly reports. There may be events in the future that the </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">C</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ompany is unable to predict, or over which it has no control, and its business, financial condition, results of operations and prospects may change in the future. The </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">C</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ompany assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless the </font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">C</font><font style="font-family:Times New Roman;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ompany has an obligation under U.S. federal securities laws to do so.</font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;">Plus Therapeutics, Inc.<font style="font-weight:normal;">&#160;<br />Russ Havranek<br />VP &#8211; Marketing, Portfolio Management, Investor Relations<br />Phone: +1.619.333.4150<br />Email:&#160;</font><font style="color:#auto;text-decoration:underline;font-weight:normal;">ir@plustherapeutics.com</font><font style="font-weight:normal;"><br />Website:&#160;</font><font style="color:#auto;text-decoration:underline;font-weight:normal;">plustherapeutics.com</font></p>
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