<SEC-DOCUMENT>0001140361-21-012036.txt : 20210407
<SEC-HEADER>0001140361-21-012036.hdr.sgml : 20210407
<ACCEPTANCE-DATETIME>20210407171833
ACCESSION NUMBER:		0001140361-21-012036
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210401
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210407
DATE AS OF CHANGE:		20210407

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Brooklyn ImmunoTherapeutics, Inc.
		CENTRAL INDEX KEY:			0000748592
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				311103425
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11460
		FILM NUMBER:		21813005

	BUSINESS ADDRESS:	
		STREET 1:		140 58TH STREET, BUILDING A
		STREET 2:		SUITE 2100
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11220
		BUSINESS PHONE:		(212) 582-1199

	MAIL ADDRESS:	
		STREET 1:		140 58TH STREET, BUILDING A
		STREET 2:		SUITE 2100
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NTN BUZZTIME INC
		DATE OF NAME CHANGE:	20051230

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NTN COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALROY INDUSTRIES INC
		DATE OF NAME CHANGE:	19850411
</SEC-HEADER>
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<TYPE>8-K
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES <font style="color: rgb(0, 0, 0);">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div>&#160;</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>
    <div>&#160;</div>
    <div style="text-align: center; color: #000000;">Date of Report (Date of earliest event reported): <font style="font-weight: bold;">April 1, 2021</font></div>
    <div>&#160;</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-size: 24pt; font-weight: bold;">BROOKLYN IMMUNOTHERAPEUTICS, INC.</div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">(Exact Name of Registrant as Specified in its Charter)</div>
    <div>&#160;</div>
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            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Delaware</div>
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          <td style="width: 34%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">001-11460</div>
          </td>
          <td style="width: 33.4%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">31-1103425</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.07%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">(State or Other Jurisdiction of Incorporation)</div>
          </td>
          <td style="width: 34%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">(Commission File Number)</div>
          </td>
          <td style="width: 33.4%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">(IRS Employer Identification No.)</div>
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          <td colspan="1" style="width: 49%; vertical-align: bottom;">
            <div style="text-align: center; font-weight: bold;">140 58<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> Street, Building A, Suite 2100</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Brooklyn, New York</div>
          </td>
          <td colspan="1" style="width: 2%; vertical-align: bottom;">&#160;&#160;</td>
          <td colspan="1" style="width: 49%; vertical-align: bottom;">&#160;
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">11220</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">(Address of Principal Executive Offices)</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 49%; vertical-align: bottom;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-style: italic;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: center;"><font style="color: #000000;">Registrant&#8217;s telephone number, including area code:</font>&#160;<font style="font-weight: bold; color: rgb(0, 0, 0);">(212) 582-1199</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; color: #000000;">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:</div>
    <div>&#160;</div>
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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze1ad6c80bc7e4b6ca804535c50c77fde">

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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
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    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z47483ec9d20a4bba9f590175d73ae5a9">

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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
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          <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0);">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
        </tr>

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    <div>&#160;</div>
    <div>Securities registered pursuant to Section 12(b) of the Act:</div>
    <div>&#160;</div>
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          <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Title of each class</div>
          </td>
          <td style="width: 3%; vertical-align: middle;">&#160;</td>
          <td style="width: 14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Trading symbol</div>
          </td>
          <td style="width: 3%; vertical-align: middle;">&#160;</td>
          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Common stock, $0.005 par value per share</div>
          </td>
          <td style="width: 3%; vertical-align: middle;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0);">BTX</div>
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          <td style="width: 3%; vertical-align: middle;">&#160;</td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0);">NYSE American</div>
          </td>
        </tr>

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    <div><font style="color: #000000;"> <br>
      </font></div>
    <div><font style="color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934: </font><font style="color: #000000;">Emerging growth company &#9744;</font></div>
    <div>&#160;</div>
    <div style="color: #000000;">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. &#9744;</div>
    <div style="color: #000000;"> <br>
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          <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 1.01.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Entry into a Material Definitive Agreement.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>
      <div style="text-align: justify; color: #000000;">We entered into an executive employment agreement, dated April 1, 2021 and effective as of April 16, 2021, with Howard J. Federoff, M.D., Ph.D., with respect to his appointment and service as our
        Chief Executive Officer and President. The principal terms of the executive employment agreement are described in Item 5.02 below, which description is incorporated by reference into this Item 1.01.</div>
      <div>&#160;</div>
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          <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 5.02.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify;">On April 6, 2021, we announced that <font style="color: rgb(0, 0, 0);">Howard J. Federoff</font>, Ph.D., had been appointed as our Chief Executive Officer and President, effective April 16, 2021. Dr. Federoff will
      succeeds Ronald Guido, who was serving as our Interim Chief Executive Officer and will continue as our Chief Development Officer.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">On April 6, 2021, we also announced that Dr. Federoff had been elected as a member of the board of directors, with a term commencing on April 16, 2021. His term will continue until our 2021 Annual Meeting of
      Stockholders.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-style: italic; font-weight: bold;">Executive Employment Agreement with Howard J. Federoff</div>
    <div>&#160;</div>
    <div style="text-align: justify;">We entered into an executive employment agreement, dated April 1, 2021 and effective as of April 16, 2021, with Howard J. Federoff with respect to terms of his employment as our Chief Executive Officer and President.
      The compensatory terms of the executive employment agreement, including equity awards, were approved by the compensation committee of the board of directors, which consists of two disinterested members of the board. Dr. Federoff&#8217;s hiring, and his
      executive employment agreement, were approved by the board.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">The executive employment agreement provides for our at-will employment of Dr. Federoff as our Chief Executive Officer and President for a term commencing on April 16, 2021 and continuing until terminated by us or Dr.
      Federoff.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Under the terms of the executive employment agreement, we will pay Dr. Federoff an annual base salary of $450,000, which amount is subject to annual review by the board or the compensation committee and subject to
      adjustment to reflect market practices among our peers in the sole discretion of the board or the compensation committee.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Dr. Federoff will be eligible to receive an annual cash bonus award in an amount up to 50% of his base salary upon achievement of reasonable performance targets set by the board or the compensation committee, each in
      its sole discretion. The bonus will be determined by the board or the compensation committee and paid annually in March in the year following the performance year on which such bonus is based.</div>
    <div>&#160;</div>
    <div>
      <div style="text-align: justify; color: #000000;">In accordance with the terms of the executive employment agreement, we will grant to Dr. Federoff, effective as of April 16, 2021, equity awards consisting of:</div>
      <div style="text-align: justify; color: #000000;"> <br>
      </div>
    </div>
    <div>
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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;"><font style="font-family: Times New Roman">&#9679;</font></td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="color: #000000;">a time-based </font>nonqualified stock option covering 2,627,915 shares of common stock<font style="color: rgb(0, 0, 0);">, eligible to vest over four years, which we refer to as the Time-Based Option; and</font></div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
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            <td style="width: 18pt; vertical-align: top; align: right; color: #000000;"><font style="font-family: Times New Roman">&#9679;</font></td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div>
                <div>a performance-based stock option grant covering 597,253 shares of common stock, eligible to vest upon the occurrence of the first approval (clearance) by the Food and Drug Administration of an investigational new drug application in
                  connection with our license with Factor Biosciences Therapeutics Limited and Novellus Therapeutics Limited, which we refer to as the Milestone Option.</div>
                <font style="color: rgb(0, 0, 0);"></font></div>
            </td>
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      <div>&#160;</div>
    </div>
    <div>
      <div style="text-align: justify;"><font style="color: #000000;">In each case, vesting generally requires Dr. Federoff&#8217;s continued employment through the relevant vesting date. </font>Consistent with the employment inducement grant rules set forth in
        Section 711(a) of the NYSE American LLC Company Guide, the equity award to Dr. Federoff was made <font style="color: rgb(0, 0, 0);">as an inducement material to his entering into employment with us and was approved by the compensation committee
          without need for stockholder approval.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;">If Dr. Federoff&#8217;s employment is terminated by us without Cause or by Dr. Federoff for Good Reason (each such capitalized term as defined in the executive employment agreement), the portion of the
        Time-Based Option that would have vested during the twelve months following the date of termination will vest, and we will be required to pay to Dr. Federoff an amount equal to twelve months of his base salary and a pro rata bonus amount, each with
        respect to the year in which the termination occurs. Dr. Federoff will also receive an extension of the post-termination exercise period of the Time&#8209;Based Option and Milestone Option of up to eighteen months. If the termination occurs prior to
        April 16, 2024, Dr. Federoff will receive accelerated vesting of the Milestone Option equal to one-thirty-sixth of the shares subject to such option multiplied by the number of full months between April 16, 2021 and the date of such termination.
        Notwithstanding the foregoing, if a termination without Cause or for Good Reason occurs within three months before or twelve months after a Change in Control (as defined in the executive employment agreement), Dr. Federoff would become entitled to
        vesting in full of his equity awards based on assumptions set forth in the executive employment agreement. Any such severance benefits under the executive employment agreement are contingent on Dr. Federoff entering into and not revoking a general
        release of claims in favor of our company.</div>
      <div>&#160;</div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div>
      <div style="text-align: justify;">The executive employment agreement provides for (a) reimbursement of reasonable business expenses, (b) participation in our benefit plans and (c) thirty paid vacation days per year. <br>
      </div>
      <div> <br>
      </div>
      <div style="text-align: justify; color: #000000;">
        <div>
          <div>The executive employment agreement contains customary covenants related to non-competition and non-solicitation for one year following termination of employment, as well as customary covenants related to confidentiality, inventions and
            intellectual property rights. <br>
          </div>
          <div> <br>
          </div>
        </div>
      </div>
    </div>
    <div style="text-align: justify; color: #000000; font-style: italic;">The foregoing description of Dr. Federoff&#8217;s executive employment agreement with us does not purport to be complete and is subject to, and qualified in its entirety by, the full text
      of the agreement, which is included as Exhibit 10.1 to this report and is incorporated into this Item 5.02 by reference.</div>
    <div>&#160;</div>
    <div><font style="font-weight: bold; font-style: italic;">Background of Howard J. Federoff </font><br>
    </div>
    <div> <br>
    </div>
    <div style="text-align: justify;">Howard J. Federoff, M.D., Ph.D., has served at Aspen Neuroscience, Inc., a biotechnology company developing an autologous neuron replacement program for Parkinson&#8217;s disease, as Senior Adviser from January 2021 to April
      2021 and as Chief Executive Officer from August 2019 to December 2020. He has been a Professor of Neurology at the University of California, Irvine, School of Medicine from 2015 to April 2021. Dr.&#160;Federoff served as Vice Chancellor for Health Affairs
      and Chief Executive Officer of the UC Irvine Health System from January 2016 to February 2018 and as Vice Chancellor for Health Affairs and Interim Chief Executive Officer of the UC Irvine Health System and Dean of the University of California,
      Irvine, School of Medicine from June 2015 to January 2016. From 2007 to 2015 he was Executive Vice President for Health Sciences and Executive Dean of the School of Medicine at Georgetown University. Dr. Federoff has chaired the Recombinant DNA
      Advisory Committee of the National Institute of Health, the National Heart, Lung, and Blood Institute Gene Therapy Group, and the Board of the Association of Academic Health Centers. He is an elected Fellow of the American Association for the
      Advancement of Science and the National Academy of Inventors. Dr. Federoff received a Ph.D. in Biochemistry and an M.D. from the Albert Einstein College of Medicine of Yeshiva University. He is 68 years old. <br>
    </div>
    <div> <br>
    </div>
    <div>
      <div style="font-weight: bold;"><font style="font-style: italic;">Resignations of Nicholas J. Singer and George P. Denny III </font><br>
      </div>
      <div><font style="font-weight: bold;"> </font><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify;">As we have previously described (including in our Current Report on Form 8-K filed with the Securities and Exchange Commission on March 31, 2021), the board of directors, in connection with its search for our
        permanent chief executive officer, has been seeking to identify one or more independent directors whose skills and experience would complement and diversify those of existing directors. As we also described, we expect that the size of the board
        will remain at five directors and that any newly elected directors would succeed, rather than supplement, the current board membership.&#160;</div>
      <div> <br>
      </div>
      <div>
        <div style="text-align: justify;">In connection with the board&#8217;s appointment and election of Howard J. Federoff as Chief Executive Officer, President and a director effective April 16, 2021, Nicholas J. Singer has notified the board of his
          intention to resign as a director effective April 16, 2021, when Dr. Federoff joins the board. In addition, George P. Denny III has notified the board of his intention to resign as a director effective in connection with the board&#8217;s
          identification and election of an additional new director. <br>
        </div>
        <div> <br>
        </div>
        <div>Neither the resignation of Mr. Singer nor the resignation of Mr. Denny was the result of any disagreement relating to our operations, policies or practices.</div>
      </div>
      <div style="text-align: justify; color: #000000;"> <br>
      </div>
    </div>
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          <td style="width: 54pt; vertical-align: top; font-weight: bold;">Item 7.01.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-weight: bold;">Regulation FD Disclosure.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>
      <div style="text-align: justify;">On April 6<font style="color: rgb(0, 0, 0);">, 2021, we issued a press release entitled &#8220;Howard J. Federoff, MD, PhD Appointed Chief Executive Officer of Brooklyn ImmunoTherapeutics, Inc.,&#8221;</font> a<font style="color: rgb(0, 0, 0);"> copy of which is furnished as Exhibit 99.1 to this report.</font></div>
      <div>&#160;</div>
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        <tr>
          <td style="width: 54pt; vertical-align: top;"><a name="z_bookmark0"></a><a name="z_bookmark1"></a><font style="font-weight: bold;">Item 9.01.</font></td>
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            <div style="font-weight: bold;">Financial Statements and Exhibits.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify;"><font style="font-weight: bold;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Exhibits.</font></div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Exhibit</div>
          </td>
          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
          <td style="width: 88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="brhc10022864_ex10-1.htm">10.1+*</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; color: rgb(0, 0, 0);">Executive Employment Agreement, dated as of April 1, 2021 and effective as of April 16, 2021, between Brooklyn ImmunoTherapeutics, Inc. and Howard J. Federoff.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 10%; vertical-align: top;">
            <div style="text-align: center;"><a href="brhc10022864_ex99-1.htm">99.1</a></div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; color: rgb(0, 0, 0);">Press release of Brooklyn ImmunoTherapeutics, Inc. dated April 6, 2021.</div>
          </td>
        </tr>

    </table>
    <div>
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          <tr style="vertical-align: top;">
            <td style="align: right; vertical-align: top; width: 9pt;">
              <div style="text-align: justify;">+</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;">Indicates management contract or compensatory plan.</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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              <div style="text-align: justify;">*</div>
            </td>
            <td style="align: left; vertical-align: top; width: auto;">
              <div style="text-align: justify;">Certain addenda have been omitted pursuant to Item 601(a)(5) of Regulation S-K. We hereby undertake to furnish copies of the omitted addenda upon request by the Securities and Exchange Commission, provided
                that we may request confidential treatment pursuant to Rule 24b&#8209;2 of the Securities Exchange Act of 1934 for the addenda so furnished.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: justify;"> <br>
    </div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div>&#160;</div>
    <div style="text-align: justify;">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.</div>
    <div>&#160;</div>
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          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div>BROOKLYN IMMUNOTHERAPEUTICS, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 47%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Ronald Guido<br>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">
            <div>Ronald Guido</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">
            <div>Interim Chief Executive Officer and</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">
            <div>Chief Development Officer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>Dated: April 7, 2021</div>
          </td>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 47%; vertical-align: top;">&#160;</td>
        </tr>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>brhc10022864_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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      <div style="text-align: right;">Exhibit 10.1<br>
      </div>
    </div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">EXECUTIVE EMPLOYMENT AGREEMENT</div>
    <div style="text-align: center; font-weight: bold;">BROOKLYN IMMUNOTHERAPEUTICS, INC</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This EXECUTIVE EMPLOYMENT AGREEMENT (this &#8220;<font style="font-weight: bold; font-style: italic;">Agreement</font>&#8221;) dated as of April 1, 2021, is entered by and between Brooklyn ImmunoTherapeutics,
      Inc., a Delaware corporation (the &#8220;<font style="font-weight: bold; font-style: italic;">Company</font>&#8221;), and Howard Federoff (&#8220;<font style="font-weight: bold; font-style: italic;">Executive</font>&#8221;) and will be effective as April 16, 2021 (the &#8220;<font style="font-weight: bold; font-style: italic;">Effective Date</font>&#8221;).&#160; Each of the Company and Executive are a &#8220;<font style="font-weight: bold; font-style: italic;">Party</font>,&#8221; and collectively, they are the &#8220;<font style="font-weight: bold; font-style: italic;">Parties</font>.&#8221;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">WHEREAS, the Company wishes to employ Executive as of the Effective Date; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">WHEREAS, Executive wishes to be employed by the Company as of the Effective Date.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">NOW THEREFORE, in consideration of the mutual covenants and mutual benefits set forth herein and other good and valuable consideration, the receipt and sufficiency of which is acknowledged, the
      Company and Executive agree as follows:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Representations and Warranties.</font>&#160; Executive represents and warrants to the Company that Executive is not
      bound by any restrictive covenants or other obligations or commitments of any kind that would in any way prevent, restrict, hinder or interfere with Executive&#8217;s acceptance of employment under the terms and conditions set forth herein or the
      performance of all duties and services hereunder to the fullest extent of Executive&#8217;s ability and knowledge.&#160; Executive understands and acknowledges that Executive is not expected or permitted to use or disclose confidential information belonging to
      any prior employer in the course of performing Executive&#8217;s duties for the Company.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Term of Employment.</font>&#160; As of the Effective Date, the Company will employ Executive and Executive accepts
      employment by the Company on the terms and conditions herein that shall commence on the Effective Date and shall continue until terminated pursuant to Section 5 (the &#8220;<font style="font-weight: bold; font-style: italic;">Employment Period</font>&#8221;).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Duties and Functions.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive shall be employed as the Chief Executive Officer and President of the Company and shall report to the Board of Directors of the Company <a name="z_Hlk56192353"></a>(the &#8220;<font style="font-weight: bold; font-style: italic;">Board</font>&#8221;).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Executive agrees to undertake the duties and responsibilities inherent in the positions of Chief Executive Officer and President, which may encompass different or additional duties as
      may, from time to time, be assigned by the Board, and the duties and responsibilities undertaken by Executive may be altered or modified from time to time by the Board.&#160; Executive agrees to abide by the rules, regulations, instructions, personnel
      practices and policies of the Company and any change thereof which may be adopted at any time by the Company. Notwithstanding the foregoing, business related travel will be in the Executive&#8217;s sole discretion at any time Executive determines in good
      faith that precautions related to COVID-19 should be considered in connection with any travel activities.</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; During the Employment Period, Executive will devote Executive&#8217;s full time and efforts to the business of the Company and will not, without the consent of the Company, engage in
      consulting work or any trade or business for Executive&#8217;s own account or for or on behalf of any other person, firm or corporation that competes, conflicts or interferes with the performance of Executive&#8217;s duties hereunder in any way. However,
      Executive is permitted to engage in the activities listed in Addendum A, to the extent that he is not in violation of the covenants of Section 7.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-weight: bold;">Compensation.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Base Salary</u>:&#160; As compensation for Executive&#8217;s services hereunder, the Company agrees to pay Executive a base salary at an annual rate of $450,000, payable in accordance with the
      Company&#8217;s normal payroll schedule, but in no event less frequently than monthly.&#160; Executive&#8217;s salary shall be reviewed annually by the Board or the Compensation Committee thereof and subject to adjustment to reflect market practices among the
      Company&#8217;s peers in the Board&#8217;s and/or the Compensation Committee&#8217;s sole discretion.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u>Bonus</u>:&#160; Beginning with calendar year 2021, Executive shall be eligible to receive an annual cash bonus award in an amount up to 50% of his base salary upon achievement of
      reasonable performance targets set by the Board or the Compensation Committee thereof in its sole discretion.&#160; Such targets shall be based in part upon performance of the Company, and in part on Executive&#8217;s individual performance. The bonus shall be
      determined by the Board or the Compensation Committee thereof in its sole discretion and paid annually in March in the year following the performance year on which such bonus is based.&#160; Except as contemplated by Section 5(c)(i) below, Executive&#8217;s
      receipt of the bonus, if any, is conditioned on Executive&#8217;s continued employment as of the date on which such bonus is paid, and any such bonus will not be considered earned until such date. Executive&#8217;s bonus opportunity shall be reviewed annually by
      the Board or the Compensation Committee thereof and subject to adjustment to reflect market practices among the Company&#8217;s peers in the Board&#8217;s and/or the Compensation Committee&#8217;s sole discretion.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Stock Options</u>:&#160; On the Effective Date, in accordance with the employment inducement grant rules set forth in Section 711(a) of the NYSE American LLC Company Guide, Executive
      shall be granted a nonqualified stock option covering 2,627,915 shares of the Company&#8217;s common stock (the &#8220;<font style="font-weight: bold; font-style: italic;">Time-Based Option</font>&#8221;).&#160; The Time-Based Option shall have a per share exercise price
      equal to the closing price of a share of the Company&#8217;s common stock on the NYSE American Stock Exchange on the Effective Date.&#160; Of the shares covered by the Time&#8209;Based Option, 656,979 shall vest on April 16, 2022, 54,748 shall vest on the sixteenth
      day of each month from May 2022 through March 2025, and the remaining 54,756 shall vest on April 16, 2025, in each case for so long as the Executive provides continuous service to the Company through the relevant vesting date. Additionally, on the
      Effective Date, in accordance with the employment inducement grant rules set forth in Section 711(a) of the NYSE American LLC Company Guide, Executive shall be granted a nonqualified stock option covering 597,253 shares of the Company&#8217;s common stock
      (the &#8220;<font style="font-weight: bold; font-style: italic;">Milestone Option</font>&#8221;).&#160; The Milestone Option shall have a per share exercise price equal to the closing price of a share of the Company&#8217;s common stock on the NYSE American Stock Exchange
      on the Effective Date. The Milestone Option shall fully vest upon the occurrence of the first approval by the Food and Drug Administration of an investigational new drug application (IND) in connection with that certain license among the Company,
      Factor Biosciences Therapeutics Limited and Novellus Therapeutics Limited, subject to Executive&#8217;s continuous service with the Company through such vesting date. The unvested portion of the Time-Based Option and the Milestone Option shall terminate
      upon the termination of Executive&#8217;s employment with the Company for any reason. Unless earlier terminated in accordance with their terms, each of the Time-Based Option and the Milestone Option shall otherwise expire on the 10th anniversary of their
      respective grant date and be subject to the terms and conditions of the respective option agreement approved by the Company. Each of the Time-Based Option and the Milestone Option is intended to constitute an &#8220;employment inducement grant&#8221; in
      accordance with the employment inducement grant rules set forth in Section 711(a) of the NYSE American LLC Company Guide, and is offered as an inducement material to Executive in connection with the Company&#8217;s hiring of Executive.</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Other Expenses</u>:&#160; In addition to the compensation provided for above, the Company agrees to pay or to reimburse Executive during Executive&#8217;s employment for all reasonable, ordinary
      and necessary, properly documented, business expenses incurred in the performance of Executive&#8217;s services hereunder in accordance with Company policy in effect from time to time; provided, however, that the amount available to Executive for such
      travel, entertainment and other expenses may require advance approval by the Board.&#160; Executive shall submit vouchers and receipts for all expenses for which reimbursement is sought. Notwithstanding any expense reimbursement policy of the Company that
      may then be in effect, Executive shall be entitled to reimbursement without advance approval by the Board of the costs of (i) up to 4 professional conferences up to an amount of $10,000 annually and (ii) all flights, which shall be business class or
      better for all flights over three hours in length.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <u>Paid Time Off</u>:&#160; Executive shall be allowed 30 days of paid time off per year of employment, which shall accrue pro rata in the Company&#8217;s regular payroll (up to a maximum of 45
      days) and shall be subject to the Company&#8217;s paid time off policies in place from time to time.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160;&#160; <u>Fringe Benefits</u>.&#160; In addition to Executive&#8217;s compensation provided by the foregoing, Executive shall be entitled to all benefits available generally to Company employees
      pursuant to Company programs which may now or, if not terminated, shall hereafter be in effect, or that may be established by the Company, as and to the extent any such programs are or may from time to time be in effect, as determined by the Company
      <a name="mark"></a><a name="CurrSpot"></a>and the terms hereof, subject to the applicable terms and conditions of the benefit plans in effect at that time.&#160; Nothing herein shall affect the Company&#8217;s ability to modify, alter, terminate or otherwise
      change any benefit plan it has in effect at any given time, to the extent permitted by law.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(g)&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u>Reimbursements</u>.&#160; With respect to any reimbursement of expenses of Executive, such reimbursement of expenses shall be subject to the following conditions: (i) the expenses
      eligible for reimbursement in one taxable year shall not affect the expenses eligible for reimbursement in any other taxable year; (ii) the reimbursement of an eligible expense shall be made no later than the end of the year after the year in which
      such expense was incurred; and (iii) the right to reimbursement shall not be subject to liquidation or exchange for another benefit.</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Termination.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Termination by Executive</u>. Executive may terminate the employment relationship at any time by giving the Company written notice, with such termination taking effect upon written
      notice of the termination being provided to the Company. If Executive chooses to terminate the employment relationship other than for Good Reason (defined below), Executive will not be entitled to and shall not receive any compensation or benefits of
      any type following the effective date of termination, other than (i) payment of base salary through the last day of employment, (ii) payment for any accrued but unused paid time off, and (iii) any right to continued benefits required by law (the
      &#8220;Accrued Obligations&#8221;). If Executive terminates the employment relationship for Good Reason (defined below), Executive will be entitled to the Accrued Obligations and the Termination Compensation (described below), subject to the terms, conditions
      and restrictions set forth in Section 5(c)(ii).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 108pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;<font style="font-weight: bold; font-style: italic;">Good Reason</font>&#8221; means the occurrence of any of the following without Executive&#8217;s express written consent: (A) a material
      reduction in Executive&#8217;s base salary or maximum annual bonus, in each case set forth in Section 4; (B) a relocation of Executive to a facility or location that is more than fifty (50) miles from Executive&#8217;s primary place of employment as of the
      Effective Date and represents a material increase in Executive&#8217;s commuting distance; (C) a material diminution in Executive&#8217;s authority, position, duties, or responsibilities individually or taken as a whole and including any such diminution that
      takes place following a Change in Control; (E) Executive&#8217;s failure to be re-elected to, or his removal from, the Board, other than for reasons related to Cause, as defined herein; or (G) a material breach by the Company of the terms of this Agreement
      or any other agreement between the Company and Executive; provided, that no such event described above will constitute Good Reason unless: (x) Executive gives notice to the Company specifying the condition or event relied upon for such termination
      within sixty (60) days of the initial existence of such event; and (y) the Company fails to cure the condition or event constituting Good Reason within thirty (30) days following receipt of such notice (the &#8220;Cure Period&#8221;).&#160; If the Company fails to
      remedy the condition constituting Good Reason during the applicable Cure Period, Executive&#8217;s termination of employment must occur, if at all, within ninety (90) days following the last day of such Cure Period in order for such termination as a result
      of such condition to constitute a termination for Good Reason.&#160; For purposes of this Agreement, &#8220;Change in Control&#8221; means a &#8220;change in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets
      of the corporation&#8221; under Section 409A(a)(2)(A)(v) of the Code.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Termination by Company for Cause</u>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 108pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;At any time during the Employment Period, the Company may terminate Executive&#8217;s employment for Cause (defined below), with such termination taking effect upon the later of written
      notice of the termination for Cause being provided to Executive or the expiration of any applicable cure period related thereto (provided that Executive may be relieved from his duties hereunder during such cure period in the reasonable direction of
      the Board).&#160; If Executive&#8217;s employment is terminated for Cause, Executive will not be entitled to and shall not receive any compensation or benefits of any type following the effective date of termination, other than the Accrued Obligations, and
      shall forfeit the options covered by Section 4(c) and any stock obtained upon the exercise of such options.</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 108pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#8220;<font style="font-weight: bold; font-style: italic;">Cause</font>&#8221; shall be defined as termination for:<font style="color: rgb(0, 0, 0);"> (A) in connection with Executive&#8217;s services
        hereunder, Executive commits a material act of fraud or material act of dishonesty with respect to the Company, which act causes (or could reasonably be expected to cause) material economic or material reputational harm to the Company; (B)
        Executive is convicted of (or pleads guilty or nolo contendere to) a felony or a crime involving moral turpitude, which demonstrably causes material economic or material reputational harm to the Company; (C) Executive engages in gross negligence or
        willful misconduct in the performance of his duties hereunder that materially violates the Company&#8217;s policies and which misconduct causes (or could reasonably be expected to cause) material economic or material reputational harm to the Company; (D)
        Executive willfully refuses to follow the lawful written directions of the Board; or (E) Executive materially breaches any material provision of any proprietary information and inventions agreement with the Company.&#160; Notwithstanding anything in
        this Agreement or elsewhere to the contrary, if an event or occurrence that is alleged to constitute Cause is curable (as determined by the Board in good faith), the Company may terminate Executive&#8217;s employment for Cause only if (x) the Company
        gives Executive notice of termination prior to the termination and within thirty (30) days after the Board learns of the event or occurrence that is alleged to constitute Cause, specifying the grounds upon which Cause is alleged, (y) Executive
        fails to cure such grounds for Cause within thirty (30) days after Executive receives such notice, and (z) the termination occurs within sixty (60) days after such event or occurrence.&#160; For purposes of this Agreement, no act or failure to act, on
        Executive&#8217;s part, will be considered &#8220;willful&#8221; unless it is done, or omitted to be done, by Executive in bad faith or without reasonable belief that Executive&#8217;s action or omission was in the best interests of the Company.&#160; Any act, or failure to
        act, based upon and within the authority given pursuant to a resolution duly adopted by the Board or based upon the advice of counsel for the Company will be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in
        the best interests of the Company</font>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Termination by Company Without Cause</u>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 108pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company may terminate Executive without Cause immediately by giving Executive written notice of such termination.&#160; Subject to the conditions set forth in Section 5(c)(ii), if
      Executive&#8217;s employment is terminated by the Company without Cause, in addition to the Accrued Obligations, Executive shall be entitled to (i) base salary for twelve (12) months following date of such termination (the &#8220;<font style="font-weight: bold; font-style: italic;">Severance Period</font>&#8221;) paid pursuant to the Company's normal practices; (ii) accelerated vesting of the portion of the Time-Based Option that would have otherwise vested during the Severance Period; (iii) if such termination
      occurs prior to the three-year anniversary of the Effective Date, accelerated vesting of the Milestone Option equal to 1/36th of the shares subject to such option multiplied by the number of full months between the Effective Date and the date of such
      termination; (iv) a lump-sum payment of the annual bonus for the performance period in which such termination occurs, based on the actual achievement of the relevant performance targets, paid as and when such bonus would otherwise be paid, prorated
      based on the number of days between the Effective Date and the date of such termination; (v) extension of the post-termination exercise period of the&#160; Time-Based Option and Milestone Option to eighteen (18) months or, if earlier, the original
      expiration date thereof; and (vi) if Executive and/or Executive&#8217;s covered dependents timely elect(s) to receive health care continuation coverage pursuant to COBRA, the total monthly cost of coverage for Executive (and such covered dependents) during
      the Severance Period, provided, for the avoidance of doubt, that such covered dependents participated in the Company&#8217;s health plans prior to such termination, and provided, further, that if at any time the Company determines that its payment of
      Executive&#8217;s (or Executive&#8217;s eligible dependents&#8217;) premiums would result in a violation of law, then in lieu of providing the premiums described above, the Company will instead pay Executive a fully taxable monthly cash payment in an amount equal to
      the applicable premiums for such month, with such monthly payment being made on the last day of each month for the remainder of the Severance Period (together, the &#8220;<font style="font-weight: bold; font-style: italic;">Termination Compensation</font>.&#8221;)

      Notwithstanding the foregoing, if Executive&#8217;s employment is terminated by the Company without Cause or by Executive for Good Reason, in each case during the ninety (90) days prior to or twelve (12) month period following a Change in Control, the
      Time-Based Option and the Milestone-Option shall become fully vested, subject to the terms, conditions and restrictions set forth below in Section 5(c)(ii).</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 108pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Executive shall not be entitled to any Termination Compensation unless (A) Executive complies with all surviving provisions of any non-competition agreement, non-solicitation agreement,
      or confidentiality agreement or invention assignment agreement signed by Executive, including those contained in this Agreement&#160; (the &#8220;<font style="font-weight: bold; font-style: italic;">Restrictive Covenants</font>&#8221;) and (B) Executive executes and
      delivers to the Company, and does not revoke a separation agreement and general release in form and substance acceptable to the Company within thirty (30) days after Executive&#8217;s separation date, by which Executive releases the Company from any
      obligations and liabilities of any type whatsoever, except for the Company&#8217;s obligations with respect to the Termination Compensation (the &#8220;<font style="font-weight: bold; font-style: italic;">Release</font>&#8221;).&#160; Such release shall not affect
      Executive&#8217;s right to indemnification, if any, for actions taken within the scope of Executive&#8217;s employment.&#160; The Termination Compensation shall begin, or if lump-sum, be paid on the first payroll following the Release becoming irrevocable (except the
      prorated annual bonus, which shall be paid as and when such annual bonus would otherwise be paid); provided, however, if the 30 day period during which Executive has discretion to execute or revoke the Release straddles two taxable years of
      Executive, then the Company shall pay the Termination Compensation starting in the second of such taxable years, regardless of which taxable year Executive actually delivers the executed Release to the Company.&#160; The Parties hereto acknowledge that
      the Termination Compensation to be provided under Section 5(c)(i) is to be provided in consideration for the above-specified release.&#160; If Executive breaches any of the Restrictive Covenants at any time during the Severance Period, (1) the Company
      will have no further obligation to pay Executive any unpaid Termination Compensation and (2) the Company may take any additional action to enforce its rights under the Restrictive Covenants.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 108pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Disqualification for Other Severance</u>.&#160; The Termination Compensation described in this Section 5(c) is intended to supersede any other similar compensation provided by any
      Company policy, plan or practice.&#160; Therefore, Executive shall be disqualified from receiving any similar compensation under any other Company severance policy, plan or practice, if any. Notwithstanding the foregoing, Executive shall continue to be
      eligible for any benefits pursuant to the terms of any health or retirement plan sponsored by the Company, subject to and in accordance with the terms of the applicable plan.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination for Executive&#8217;s Permanent Disability</u>.&#160; To the extent permissible under applicable law, in the event Executive becomes permanently disabled during employment with the
      Company, the Company may terminate this Agreement by giving thirty (30) days' notice to Executive of its intent to terminate, and unless Executive resumes performance of the duties set forth in Section 3 within five (5) days of the date of the notice
      and continues performance for the remainder of the notice period, this Agreement shall terminate at the end of the thirty (30) day period.&#160; For purposes of this Agreement, &#8220;permanently disabled&#8221; shall mean if Executive is considered totally disabled
      under any group disability plan maintained by the Company and in effect at that time, or in the absence of any such plan, under applicable Social Security regulations, to the extent not inconsistent with applicable law.&#160; In the event of any dispute
      under this Section 5(d), Executive shall submit to a physical examination by a licensed physician mutually satisfactory to the Company and Executive, the cost of such examination to be paid by the Company, and the determination of such physician
      shall be determinative.&#160; In the event the Executive is terminated pursuant to this Section 5(d), Executive will be entitled to the Accrued Obligations and the Termination Compensation, subject to the terms, conditions and restrictions set forth in
      Section 5(c)(ii).</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Termination Due to Executive&#8217;s Death</u>.&#160; This Agreement will terminate immediately upon Executive&#8217;s death and the Company shall not have any further liability or obligation to
      Executive, Executive&#8217;s executors, heirs, assigns or any other person claiming under or through Executive&#8217;s estate, except that Executive&#8217;s estate shall receive any accrued but unpaid salary and accrued but unused paid time off. In addition,
      Executive&#8217;s estate shall be entitled to accelerated vesting of the portion of the Time-Based Option that would have otherwise vested during the Severance Period and accelerated vesting of the Milestone Option equal to 1/36th of the shares subject to
      such option multiplied by the number of full months between the Effective Date and the date of such termination.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(f)&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Continuing Obligations</u>.&#160; The obligations imposed on Executive with respect to non-competition, non-solicitation, confidentiality, non-disclosure and assignment of rights to
      inventions or developments in this Agreement or any other agreement executed by the Parties shall continue, notwithstanding the termination of the employment relationship between the Parties and regardless of the reason for such termination.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Annual Review</u>.&#160; Executive&#8217;s severance benefits shall be reviewed annually by the Board or the Compensation Committee thereof and subject to adjustment to reflect market practices
      among the Company&#8217;s peers in the Board&#8217;s and/or the Compensation Committee&#8217;s sole discretion.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Company Property.&#160; </font>All correspondence, records, documents, software, promotional materials, and other
      Company property, including all copies, which come into Executive&#8217;s possession by, through or in the course of Executive&#8217;s employment, regardless of the source and whether created by Executive, are the sole and exclusive property of the Company, and
      immediately upon the termination of Executive&#8217;s employment, or at any time the Company shall request, Executive shall return to the Company all such property of the Company, without retaining any copies, summaries or excerpts of any kind or in any
      format whatsoever.&#160; Executive shall not destroy any Company property, such as by deleting electronic mail or other files, other than in the normal course of Executive&#8217;s employment.&#160; Executive further agrees that should Executive discover any Company
      property or Confidential Information in Executive&#8217;s possession after the return of such property has been requested, Executive agrees to return it promptly to Company without retaining copies, summaries or excerpts of any kind or in any format
      whatsoever.</div>
    <div>&#160;</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="font-weight: bold;">Non-Competition and Non-Solicitation.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive agrees and acknowledges that, in connection with Executive&#8217;s employment with the Company, Executive will be provided with access to and become familiar with confidential and
      proprietary information and trade secrets belonging to the Company and its affiliates.&#160; Executive further acknowledges and agrees that if Executive accepts employment with a competitor engaged in the Business (as defined below) in the Restricted
      Territory (as defined below), it will be presumed that Executive will inevitably disclose Confidential Information and trade secrets in the course of Executive&#8217;s employment with such competitor.&#160; Accordingly, in consideration of Executive&#8217;s
      employment with the Company pursuant to this Agreement, and other good and valuable consideration, the receipt of which is hereby acknowledged, Executive agrees that, while Executive is in the employ of the Company and/or any of its affiliates and
      for a one (1) year period following the end of such employment for any reason, Executive shall not, either on Executive&#8217;s own behalf or on behalf of any third party, except on behalf of the Company or one of its affiliates, directly or indirectly:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; engage directly or indirectly in the Business (as defined below) anywhere in the Restricted Territory (as defined below) or directly or indirectly be or become an
      officer, director, stockholder, owner, affiliate, partner, member, investor, joint venture, employee, agent, representative, consultant, lender, advisor, manager of, for or to, or otherwise be or become associated with or acquire or hold (of record,
      beneficially or otherwise) any direct or indirect interest in, any business or enterprise engaged directly or indirectly in the Business (as defined below) anywhere in the Restricted Territory (as defined below).&#160; As used herein, (A) the term &#8220;<font style="font-weight: bold; font-style: italic;">Business</font>&#8221; shall mean the business of development and manufacturing of a cytokine immunotherapy (related to or derived from human source material) for cancer treatment and RNA based gene therapy
      and editing of MSC, HSC, TILs and T-Cells, and (B) the term &#8220;<font style="font-weight: bold; font-style: italic;">Restricted Territory</font>&#8221; shall mean worldwide.&#160; The foregoing restriction shall not be construed to prohibit the ownership by
      Executive as a passive investment of shares of capital stock of a publicly-held corporation that engages in the Business if (x) such shares are actively traded on an established national securities market in the United States or any other foreign
      securities exchange, (y) the number of shares of such corporation&#8217;s capital stock that are owned beneficially (directly or indirectly) by Executive and the number of shares of such corporation&#8217;s capital stock that are owned beneficially (directly or
      indirectly) by Executive&#8217;s affiliates collectively represent less than one percent (1%) of the total number of shares of such corporation&#8217;s capital stock outstanding, and (z) neither Executive nor any affiliate of Executive is otherwise associated
      directly or indirectly with such corporation or with any affiliate of such corporation;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;attempt in any manner to solicit, induce or attempt to induce any business, enterprise, or individual who, during the preceding two-year period, has a business
      relationship with the Companies (including any customer, licensee, supplier, manufacturer or vendor) (x) to cease doing business with the <a name="z_Hlk56193364"></a>Company or any of its affiliates, (y) to diminish or materially alter in a manner
      harmful to the Company or any of its affiliates, or any of their affiliates such business, enterprise, or individual&#8217;s relationship with the Company or any of its affiliates, or (z) to purchase, contract for or receive any products or services from
      any business or enterprise (other than the Company or any of its affiliates) that engages in the Business anywhere within the Restricted Territory; or</div>
    <div>&#160;</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (A) directly or indirectly hire any employee, independent contractor, or consultant or any person who was an employee, independent contractor, or consultant of the
      Companies within the preceding six (6) months, or (B) directly or indirectly encourage, induce, attempt to induce, solicit or attempt to solicit (on Executive&#8217;s own behalf or on behalf of any other business, enterprise, or individual) any employee,
      independent contractor, or consultant to leave or curtail his or her employment or engagement with the Company or any of its affiliates; provided, however, that notwithstanding the foregoing, this Section 7(a)(iii) shall not prevent Executive from
      undertaking general solicitations of employment not targeted at employees, independent contractors, or consultants of the Company or any of its affiliates (so long as Executive does not, directly or indirectly, hire any such employee, independent
      contractor, or consultant).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; The Parties agree that the relevant public policy aspects of post-employment restrictive covenants have been discussed, and that every effort has been made to limit the restrictions
      placed upon Executive to those that are reasonable and necessary to protect the Company&#8217;s legitimate interests.&#160; Executive acknowledges that, based upon Executive&#8217;s education, experience, and training, the restrictions set forth in this Section 7
      will not prevent Executive from earning a livelihood and supporting himself and Executive&#8217;s family during the relevant time period.&#160; Executive further acknowledges that, because the Company markets its products and services throughout the Restricted
      Territory, a more narrow geographic limitation on the restrictive covenants set forth above would not adequately protect the Company&#8217;s legitimate business interests.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If any restriction set forth in this Section 7 is found by any court of competent jurisdiction or arbitrator to be unenforceable because it extends for too long a period of time or over
      too great a range of activities or geographic area, it shall be interpreted to extend over the maximum period of time, range of activities or geographic area as to which it may be enforceable.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; The restrictions contained in Section 7 are necessary for the protection of the business and goodwill of the Company and/or its affiliates and are considered by Executive to be
      reasonable for such purposes.&#160; <a name="z_Hlk55783292"></a>Executive agrees that any material breach of Section 7 will result in irreparable harm and damage to the Company and/or its affiliates that cannot be adequately compensated by a monetary
      award.&#160; Accordingly, it is expressly agreed that in addition to all other remedies available at law or in equity (including, without limitation, money damages from Executive), the Company and/or such affiliate shall be entitled to a temporary
      restraining order, preliminary injunction or such other form of injunctive or equitable relief as may be issued by any court of competent jurisdiction or arbitrator to restrain or enjoin Executive from breaching any such covenant or provision or to
      specifically enforce the provisions hereof, without the need to post any bond or other security.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The existence of a claim, charge, or cause of action by Executive against the Company shall not constitute a defense to the enforcement by the Company of the foregoing restrictive
      covenants.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; &#160; The provisions of this Section 7 shall apply regardless of the reason for the termination of Executive&#8217;s employment.</div>
    <div>&#160;</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Non-Circumvention / Non-Interference.&#160; </font>Executives acknowledges and agrees that during the Employment
      Period and for a period of one year following termination or expiration of this Agreement, Executive shall not, and shall not authorize or permit any of his Representatives to, directly or indirectly, interfere, discuss, contact, initiate, or engage,
      encourage, solicit, initiate, facilitate or continue inquiries to any third parties concerning any business opportunities related to the Company.&#160; It is understood that, without previous written consent from the Company, the Executive and its
      Representatives will not enter, either directly or indirectly, into any discussions, solicit or accept offers, enter into any agreements, conduct negotiations with or otherwise engage in any other independent communications with: any third party to
      whom Executive was introduced to by any member, shareholder, officer, director, employee, agent, customer, supplier, vendor, or other representative of the Company or Novellus, Inc; any third party to whom Executive was informed of by any member,
      shareholder, officer, director, employee, agent, customer, supplier, vendor, or other representative of Company or Novellus, Inc. or any employee, financial partner, investor, contractor of the Company. For purposes of this Agreement,
      "Representatives" means, as to Company, his/her affiliates, and respective consultants (including attorneys, financial advisors and accountants).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Protection of Confidential Information.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Executive agrees that all information, whether or not in writing, relating to the business, technical or financial affairs of the Company and that is generally understood in the industry
      as being confidential and/or proprietary information, is the exclusive property of the Company.&#160; Executive agrees to hold in a fiduciary capacity for the sole benefit of the Company all secret, confidential and/or proprietary information, knowledge,
      and data, including trade secrets, relating to the Company or any of its affiliates obtained during Executive&#8217;s employment with the Company or any of its predecessors or affiliates, including but not limited to any trade secrets, confidential or
      secret designs, website technologies, content, processes, formulae, plans, manuals, devices, machines, know-how, methods, compositions, ideas, improvements, financial and marketing information, costs, pricing, sales, sales volume, salaries, methods
      and proposals, customer and prospective customer lists, customer identities, customer volume, or customer contact information, identity of key personnel in the employ of customers and prospective customers, amount or kind of customer&#8217;s purchases from
      the Companies or their affiliates, manufacturer lists, manufacturer identities, manufacturer volume, or manufacturer contact information, identity of key personnel in the employ of manufacturers, amount or kind of the Companies&#8217; or their affiliates&#8217;
      purchases from manufacturers, system documentation, hardware, engineering and configuration information, computer programs, source and object codes (whether or not patented, patentable, copyrighted or copyrightable), related software development
      information, inventions or other confidential or proprietary information belonging to the Companies or their affiliates or directly or indirectly relating to the Companies&#8217; or their affiliates&#8217; business and affairs (&#8220;<font style="font-weight: bold; font-style: italic;">Confidential Information</font>&#8221;).&#160; Executive agrees that Executive will not at any time, either during the Employment Period or the Confidentiality Period (as defined below), disclose to anyone any Confidential Information, or
      utilize such Confidential Information for Executive&#8217;s own benefit, or for the benefit of third parties without written approval by an officer of the Company.&#160; For purposes of this section, the &#8220;<font style="font-weight: bold; font-style: italic;">Confidentiality

        Period</font>&#8221; means so long as such information, data, or material remains confidential.&#160; Executive further agrees that all memoranda, notes, records, data, schematics, sketches, computer programs, prototypes, or written, photographic, magnetic or
      other documents or tangible objects compiled by Executive or made available to Executive during the Employment Period concerning the business of the Company and/or its clients, including any copies of such materials, shall be the property of the
      Company and shall be delivered to the Company on the termination of Executive&#8217;s employment, or at any other time upon request of the Company.</div>
    <div>&#160;</div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event Executive is questioned by anyone not employed by the Company or by an employee of or a consultant to the Company not authorized to receive such information, in regard to
      any Confidential Information or any other secret or confidential work of the Company, or concerning any fact or circumstance relating thereto, or in the event that Executive becomes aware of the unauthorized use of Confidential Information by any
      party, whether competitive with the Company or not, Executive will promptly notify an executive officer of the Company.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Court-Ordered Disclosure</u>.&#160; In the event that, at any time during Executive&#8217;s employment with the Company or at any time thereafter, Executive receives a request to disclose&#160; any
      Confidential Information under the terms of a subpoena or order issued by a court or by a governmental body, Executive agrees to notify the Company immediately of the existence, terms, and circumstances surrounding such request, to consult with the
      Company on the advisability of taking legally available steps to resist or narrow such request; and, if disclosure of such Confidential Information is required to prevent Executive from being held in contempt or subject to other penalty, to furnish
      only such portion of the Confidential Information as, in the written opinion of counsel satisfactory to the Company, Executive is legally compelled to disclose, and to exercise Executive&#8217;s best efforts to obtain an order or other reliable assurance
      that confidential treatment will be accorded to the disclosed Confidential Information.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Defend Trade Secrets Act</u>.&#160; Pursuant to the Defend Trade Secrets Act of 2016, Executive acknowledges that Executive shall not have criminal or civil liability under any federal or
      state trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or
      investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, if Executive files a demand for arbitration alleging retaliation by
      the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive&#8217;s attorney and may use the trade secret information in the arbitration proceeding, if Executive (X) files any document containing the trade
      secret under seal and (Y) does not disclose the trade secret, except pursuant to an order of the arbitrator.</div>
    <div>&#160;</div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Intellectual Property.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Disclosure of Inventions</u>.&#160; Executive will promptly disclose in confidence to the Company all inventions, improvements, processes, products, designs, original works of authorship,
      formulas, processes, compositions of matter, computer software programs, Internet products and services, e-commerce products and services, e-entertainment products and services, databases, mask works, trade secrets, product improvements, product
      ideas, new products, discoveries, methods, software, uniform resource locators or proposed uniform resource locators (&#8220;<font style="font-weight: bold; font-style: italic;">URLs</font>&#8221;), domain names or proposed domain names, any trade names,
      trademarks or slogans, which may or may not be subject to or able to be patented, copyrighted, registered, or otherwise protected by law (the &#8220;<font style="font-weight: bold; font-style: italic;">Inventions</font>&#8221;) that Executive makes, conceives or
      first reduces to practice or creates, either alone or jointly with others, during the period of Executive&#8217;s employment, whether or not in the course of Executive&#8217;s employment (i) that result from any work performed by the Executive for the Company;
      (ii) that are developed from using the Company's equipment, supplies, facilities or trade secret information; or (iii) that relate at the time of conception or reduction to practice of the invention to the Company's business, or actual or
      demonstrably anticipated research or development of the Company.&#160; The requirements of this Section 10(a) shall not apply to any Inventions developed on Executives' own time without using the Company's equipment, supplies, facilities, or trade secret
      information.&#160; The foregoing requirements of Section 10(a) apply, and whether or not such Inventions are patentable, copyrightable or able to be protected as trade secrets, or otherwise able to be registered or protected by law. Executive has provided
      a list of prior Inventions as <u>Addendum B</u>, which will not be subject to the provisions of this Section 10.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Assignment of Company Inventions; Work for Hire</u>.&#160; Executive agrees that all Inventions that (i) are developed using equipment, supplies, facilities or trade secrets of the
      Company, (ii) result from work performed by Executive for the Company, or (iii) relate to the Company&#8217;s business or current or anticipated research and development (the &#8220;<font style="font-weight: bold; font-style: italic;">Company Inventions</font>&#8221;),

      will be the sole and exclusive property of the Company and the Executive hereby agrees to irrevocably assign to the Company any such Company Inventions.&#160; Executive further acknowledges and agrees that any copyrightable works prepared by Executive
      within the scope of Executive&#8217;s employment are &#8220;works for hire&#8221; under the Copyright Act and that the Company will be considered the author and owner of such copyrightable works from the moment of their creation and fixation in tangible media.
      Notwithstanding the foregoing, all Inventions that (i) are developed using equipment, supplies, facilities or trade secrets of an entity listed on Addendum A, (ii) result from work performed by Executive for such entity, or (iii) relate to such
      entity&#8217;s business or current or anticipated research and development shall not constitute a Company Invention and Executive is under no obligation to assign such inventions to Company.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Assignment of Other Rights</u>.&#160; In addition to the foregoing assignment of Company Inventions to the Company, Executive hereby irrevocably transfers and assigns to the Company:&#160;
      (i) all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights in any Company Invention; and (ii) any and all &#8220;Moral Rights&#8221; (as defined below) that Executive may have in or with respect
      to any Company Invention.&#160; Executive also hereby forever waives and agrees never to assert any and all Moral Rights Executive may have in or with respect to any Company Invention, even after termination of Executive&#8217;s work on behalf of the Company.&#160;
      &#8220;<font style="font-weight: bold; font-style: italic;">Moral Rights</font>&#8221; means any rights to claim authorship of an Company Invention, to object to or prevent the modification of any Company Invention, or to withdraw from circulation or control the
      publication or distribution of any Company Invention, and any similar right, existing under judicial or statutory law of any country in the world, or under any treaty, regardless of whether or not such right is denominated or generally referred to as
      a &#8220;moral right.&#8221;</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Assistance</u>.&#160; Executive agrees to assist the Company in every proper way to obtain for the Company and enforce patents, copyrights, mask work rights, trade secret rights and other
      legal protections for the Company Inventions in any and all countries.&#160; Executive will execute any documents that the Company may reasonably request for use in obtaining or enforcing such patents, copyrights, mask work rights, trade secrets and other
      legal protections.&#160; Executive&#8217;s obligations under this section will continue beyond the termination of Executive&#8217;s employment with the Company, provided that the Company will compensate Executive at a reasonable rate after such termination for time
      or expenses actually spent by Executive at the Company&#8217;s request on such assistance.&#160; Executive appoints the Secretary of the Company as Executive&#8217;s attorney-in-fact to execute documents on Executive&#8217;s behalf for this purpose.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Publicity; Non-disparagement.&#160; </font>Neither Party shall issue, without consent of the other Party, any press
      release or make any public announcement with respect to this Agreement or the employment relationship between them, or the ending of such relationship.&#160; Following the date of this Agreement and regardless of any dispute that may arise in the future,
      Executive agrees that Executive will not disparage, criticize or make statements which are negative, detrimental or injurious to Company or any of its affiliates, or any of their affiliates to any individual, company or client, including within the
      Company.<a name="z_Ref1826681"></a>&#160; Nothing contained herein shall prevent Executive from providing true testimony to the extent required within any legal proceeding (or in any discovery in connection therewith) or investigation by a governmental
      authority.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">12.</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Binding Agreement.</font>&#160; This Agreement shall be binding upon and inure to the benefit of the Parties hereto,
      their heirs, personal representatives, successors and assigns.&#160; Executive acknowledges and agrees that the Company may, in its sole discretion, assign this Agreement (i) to an affiliate of the Company at any time, or (ii) in the event the Company is
      acquired, is a non-surviving party in a merger, or transfers substantially all of its assets, to the transferee or surviving company, in each case without being required to obtain Executive&#8217;s consent.&#160; The Parties understand that the obligations of
      Executive are personal and may not be assigned by him.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Entire Agreement.</font>&#160; This Agreement contains the entire understanding of Executive and the Company with
      respect to employment of Executive.&#160; This Agreement may not be amended, waived, discharged or terminated orally, but only by an instrument in writing, specifically identified as an amendment to this Agreement, and signed by all Parties.&#160; By entering
      into this Agreement, Executive certifies and acknowledges that Executive has carefully read all of the provisions of this Agreement and that Executive voluntarily and knowingly enters into said Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Severability.</font>&#160; Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
      shall, as to such jurisdiction, be deemed severable from the remainder of this Agreement, and the remaining provisions contained in this Agreement shall be construed to preserve to the maximum permissible extent the intent and purposes of this
      Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">15.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Tax Consequences</font>.&#160; Except as otherwise specifically provided in this Agreement, the Company will have no
      obligation to any person entitled to the benefits of this Agreement with respect to any tax obligation any such person incurs as a result of or attributable to this Agreement, including all supplemental agreements and employee benefits plans
      incorporated by reference therein, or arising from any payments made or to be made under this Agreement or thereunder.</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">16.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Withholding.&#160; </font>The Company shall have the right to withhold from any amount payable hereunder any federal,
      state, local and foreign taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable law or regulation. Notwithstanding any other provision of this Agreement, the Company does not guarantee any particular
      tax result for Executive with respect to any payment provided to Executive hereunder, and Executive shall be solely responsible for any taxes imposed on Executive with respect to any such payment.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">17.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Section 409A.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; This Agreement is intended to comply with, or otherwise be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended (the &#8220;<font style="font-weight: bold; font-style: italic;">Code</font>&#8221;) and any regulations and Treasury guidance promulgated thereunder (&#8220;<font style="font-weight: bold; font-style: italic;">Section 409A of the Code</font>&#8221;).&#160; If the Company determines in good faith that any provision of this
      Agreement would cause Executive to incur an additional tax, penalty, or interest under Section 409A of the Code, the Company and Executive shall use reasonable efforts to reform such provision, if possible, in a mutually agreeable fashion to maintain
      to the maximum extent practicable the original intent of the applicable provision without violating the provisions of Section 409A of the Code or causing the imposition of such additional tax, penalty, or interest under Section 409A of the Code.&#160; The
      preceding provisions, however, shall not be construed as a guarantee by the Company of any particular tax effect to Executive under this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; For purposes of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments.&#160; In no event
      may Executive, directly or indirectly, designate the calendar year of payment.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With respect to any reimbursement of expenses of, or any provision of in-kind benefits to, Executive, as specified under this Agreement, such reimbursement of expenses or provision of
      in-kind benefits shall be subject to the following conditions: (1) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one taxable year shall not affect the expenses eligible for reimbursement or the amount of
      in-kind benefits provided in any other taxable year, except for any medical reimbursement arrangement providing for the reimbursement of expenses referred to in Section 105(b) of the Code; (2) the reimbursement of an eligible expense shall be made no
      later than the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Termination of employment,&#8221; &#8220;resignation,&#8221; or words of similar import, as used in this Agreement means, for purposes of any payments under this Agreement that are payments of deferred
      compensation subject to Section 409A of the Code, Executive&#8217;s &#8220;separation from service&#8221; as defined in Section 409A of the Code.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If a payment obligation under this Agreement arises on account of Executive&#8217;s separation from service while Executive is a &#8220;specified employee&#8221; (as defined under Section 409A of the Code
      and determined in good faith by the Company), any payment of &#8220;deferred compensation&#8221; (as defined under Treasury Regulation Section 1.409A-1(b)(1), after giving effect to the exemptions in Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12))
      that is scheduled to be paid within six (6) months after such separation from service shall accrue without interest and shall be paid within 15 days after the end of the six-month period beginning on the date of such separation from service or, if
      earlier, within 15 days after the appointment of the personal representative or executor of Executive&#8217;s estate following Executive&#8217;s death.</div>
    <div>&#160;</div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">18.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Governing Law.</font>&#160; This Agreement shall be governed by, and construed and enforced in accordance with, the
      laws of New York, without giving effect to the principles of conflicts of law thereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Notices.&#160; </font>Any notice provided for in this Agreement shall be provided in writing.&#160; Notices shall be
      effective from the date of service, if served personally on the Party to whom notice is to be given, or on the second day after mailing, if mailed by first class mail, postage prepaid.&#160; Notices shall be properly addressed to the Parties at their
      respective addresses or to such other address as either Party may later specify by notice to the other.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">20.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Dispute Resolution.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Parties agree that, except as otherwise provided in this Agreement, any controversy, claim or dispute arising out of or relating to this
      Agreement or the breach thereof, or arising out of or relating to the employment of Executive, or the termination thereof, including any statutory or common law claims under federal, state, or local law, including all laws prohibiting discrimination
      in the workplace (collectively, a &#8220;Dispute&#8221;), shall first be submitted to mediation conducted by the Judicial Arbitration and Mediation Service (JAMS).&#160; The Parties agree to attempt in good faith to resolve any such dispute in the course of such
      mediation.&#160; If any such Dispute is not resolved by mediation, the Parties agree that such Dispute shall be submitted to final and binding arbitration to be conducted by a single neutral arbitrator from the panel of JAMS, according to the JAMS
      Employment Rules and Procedures then in effect.&#160; <font style="font-weight: bold;">BY AGREEING TO ARBITRATION, THE PARTIES ACKNOWLEDGE THAT THEY WAIVE THE RIGHT TO BRING AND/OR PARTICIPATE IN ANY CLASS OR COLLECTIVE ACTION. THE ARBITRATOR SHALL HAVE
        NO POWER TO ARBITRATE ANY CLASS AND/OR COLLECTIVE CLAIMS. BY AGREEING TO ARBITRATION, THE PARTIES ACKNOWLEDGE THAT THEY ARE WAIVING THEIR STATUTORY AND COMMON LAW RIGHTS TO SEEK RELIEF IN A COURT OF LAW AND ARE WAIVING THEIR RIGHTS TO A TRIAL BY
        JURY.&#160; </font>The Parties agree that this Agreement governs interstate commerce and that the Federal Arbitration Act governs this Agreement to the maximum extent permitted by law.&#160; Except as to matters covered by Section 20(b), the arbitrator
      shall interpret the validity and enforceability of this Agreement, including this Section 20(a).&#160; The arbitration shall be conducted within New York County, New York.</div>
    <div>&#160;</div>
    <div style="text-align: justify;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Notwithstanding the provisions of Section 20(a), the Parties further acknowledge and agree that, due to the nature of the confidential information, trade secrets, and intellectual property belonging to the
      Company to which Executive has or will be given access, and the likelihood of significant harm that the Company would suffer in the event that such information was disclosed to third parties, the Company shall have the right to file suit&#160; in a court
      of competent jurisdiction to seek injunctive relief to prevent Executive from violating the obligations established in Sections 7, 8, 9 or 10 of this Agreement without first submitting the&#160; claim, controversy, or dispute to JAMS mediation or
      arbitration.</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">21.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Indemnification.</font>&#160; The Company shall indemnify and hold harmless Executive for any liability to any
      third-party incurred by reason of any act or omission performed by Executive while acting in good faith on behalf of the Company and within the scope of the authority of Executive pursuant to this Agreement and under the rules and policies of the
      Company, except that Executive must have in good faith believed that such action was in the best interest of the Company and such course of action or inaction must not have constituted gross negligence, fraud, willful misconduct, or breach of a
      fiduciary duty.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">22.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Miscellaneous.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right.&#160; A waiver or consent given by the Company on any
      one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; The language in all parts of this Agreement will be construed, in all cases, according to its fair meaning, and not for or against either Party hereto.&#160; The Parties acknowledge that
      each Party and its counsel have reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting Party will not be employed in the interpretation of this
      Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The obligations of Company under this Agreement, including its obligation to pay the compensation provided for in this Agreement, are contingent upon Executive&#8217;s performance of
      Executive&#8217;s obligations under this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which shall constitute one agreement.</div>
    <div>&#160;</div>
    <div style="text-align: center;">[Signatures on following page]</div>
    <div>&#160;</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
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    <div>IN WITNESS WHEREOF, Executive and the undersigned duly authorized representative of the Company have executed this Agreement as of the date first above written.</div>
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            <div style="color: rgb(0, 0, 0);">Howard Federoff</div>
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            <div style="color: rgb(0, 0, 0); font-weight: bold;">BROOKLYN IMMUNOTHERAPEUTICS, INC</div>
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            <div style="color: rgb(0, 0, 0);">Chief Development Officer</div>
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    <div style="text-align: center;">[<font style="font-style: italic;">Signature Page to Employment Agreement</font>]</div>
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    <div style="text-align: center; text-indent: 36pt; margin-right: 7.2pt; font-weight: bold;"><u>ADDENDUM A</u></div>
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    <div style="text-align: center; text-indent: 36pt; margin-right: 7.2pt; font-weight: bold;">OUTSIDE ACTIVITIES OF EXECUTIVE</div>
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            <div>Director for the following companies: Souvien, Perthera, Crescendo Newco.</div>
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          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">2.</td>
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            <div style="color: rgb(0, 0, 0);">Consultant for the following companies: Vivify, Crescendo NewCo, Aspen Neuroscience, Falcon.</div>
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          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">3.</td>
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            <div style="color: rgb(0, 0, 0);">Equity ownership in the following companies: Souvien, Perthera, Ovid Therapeutics, Aspen Therapeutics, Falcon and Almon Therapeutics<a name="z_cp_change_112"></a>.</div>
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          <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">4.</td>
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            <div style="color: rgb(0, 0, 0);">Equity ownership in any publicly traded company, provided that Executive directly and indirectly hold less than 1% of the outstanding shares of any such company.<a name="z_cp_change_111"></a> (Ovid Therapeutics
              shall not be subject to the 1% limit).</div>
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    <div>&#160;</div>
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  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">18</font>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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    <div style="text-align: right;"><font style="font-weight: bold; color: rgb(0, 0, 0);">Exhibit 99.1</font></div>
    <br>
    <div>
      <div style="color: rgb(0, 0, 0); font-weight: bold; text-align: center;">Howard J. Federoff, MD, PhD Appointed Chief Executive Officer of Brooklyn ImmunoTherapeutics, Inc.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold; color: rgb(0, 0, 0);">Brooklyn, NY </font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#8211; April 6, 2021 &#8211; </font><u><font style="font-size: 10pt; color: rgb(0, 0, 0);">Brooklyn ImmunoTherapeutics</font></u><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u>,</u> Inc. (NYSE American: BTX) (&#8220;Brooklyn&#8221; or &#8220;the Company&#8221;), a biopharmaceutical company focused on exploring the role that cytokine-based
          therapy can have in treating patients with cancer, today announced the appointment of Howard J. Federoff, M.D., Ph.D., as Chief Executive Officer and President and a director as of 16 April 2021. Dr. Federoff succeeds Ronald Guido who was serving
          as Interim CEO and will remain on Brooklyn&#8217;s management team as Chief Development Officer.</font></div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">&#8220;Dr. Federoff brings an unwavering focus on the patient as well as an outstanding record of clinical, academic and corporate achievement to Brooklyn ImmunoTherapeutics,&#8221; said Charles Cherington, Director of Brooklyn.
        &#8220;Dr. Federoff&#8217;s unparalleled record of professional accomplishments and experience will be a tremendous asset to Brooklyn ImmunoTherapeutics as we advance the clinical development of IRX-2 as well as explore potential new opportunities. We look
        forward to working with Dr. Federoff to bring new treatment options to patients living with cancer and other serious diseases.&#8221;</div>
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      </div>
      <div style="color: rgb(0, 0, 0);">&#8220;Brooklyn&#8217;s IRX-2 product offers a significant opportunity to improve patient outcomes both as a monotherapy and in combination with other anti-cancer drugs including immune-oncology therapies,&#8221; said Dr. Federoff.
        &#8220;My top priorities will be the clinical advancement of IRX-2 in solid tumor indications as well as seeking opportunities to in-license new therapeutic agents that can extend and enhance the lives of patients fighting cancer and other serious
        diseases. This is an exciting time in oncology drug development and I believe that Brooklyn ImmunoTherapeutics will be a leader in advancing patient care.&#8221;</div>
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      <div style="color: rgb(0, 0, 0);">Dr. Federoff is a distinguished professor of neurology at the University of California, Irvine. He is the former CEO of UCI Health, vice chancellor for health affairs and dean of the UCI School of Medicine. Prior to
        joining UCI Health, Federoff was executive vice president of Health Sciences and executive dean at Georgetown University. Dr. Federoff has published more than 275 peer-reviewed and invited articles, and serves on editorial boards of five journals.
        He co-founded MedGenesis Therapeutix and Brain Neurotherapy Bio, both advancing therapeutics for neurologic diseases. He became CEO of the regenerative medicine company, Aspen Neuroscience, Inc, in San Diego. Aspen is developing an autologous iPSC
        drug product for Parkinson&#8217;s disease. Dr. Federoff chaired the NIH Recombinant DNA Advisory Committee, the NHLBI Gene Therapy Resource and the Board of the Association of the Academic Health Centers. He has served as an advisor/director for several
        companies. He is an elected Fellow of the American Association for the Advancement of Science and the National Academy of Inventors. He received his MD, MS and PhD in biochemistry from the Albert Einstein College of Medicine in New York. He
        completed his residency and clinical and research fellowships at Massachusetts General Hospital and Harvard Medical School.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
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      <div style="color: rgb(0, 0, 0); font-weight: bold;">About Brooklyn ImmunoTherapeutics</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0);">Brooklyn is focused on exploring the role that cytokine-based therapy can have in treating patients with cancer, both as a single agent and in combination with other anti-cancer therapies. The company is also
        exploring opportunities to advance therapies using leading edge gene editing/cell therapy technology through its option agreement with Factor Bioscience/Novellus.</div>
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      </div>
      <div style="color: rgb(0, 0, 0);">Brooklyn&#8217;s most advanced program is studying the safety and efficacy of IRX-2 in patients with head and neck cancer. In a Phase 2A clinical trial in head and neck cancer, IRX-2 demonstrated an overall survival
        benefit. Additional studies are either underway or planned in other solid tumor cancer indications.</div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">For more information about Brooklyn and its clinical programs, please visit </font><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u>www.Brookl</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">y</font><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u>nITx.com</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">.</font><font style="font-size: 10pt; color: rgb(0, 0, 0);"> </font></div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);"> <br>
        </font></div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">###</font></div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Media Contact </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">MacDougall</div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">Nicholas Chang </font></div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);"></font><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u>nchan</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">g</font><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u>@macbiocom.com</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">&#160;</font></div>
      <div style="font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">781-235-3060</font></div>
      <div style="color: rgb(0, 0, 0);">&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">Investor Relations Contact:</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">CORE IR</div>
      <div style="color: rgb(0, 0, 0);">516-222-2560</div>
      <div style="color: rgb(26, 117, 185); font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u>investors</u></font><font style="font-size: 10pt; color: rgb(0, 0, 0);">@<u>brooklynitx.com</u></font></div>
      <div style="color: rgb(26, 117, 185); font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);"><u> <br>
          </u></font></div>
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