EXHIBIT 10.1
November 4, 2016
Mr. Peter Lynch
22060 East Arbor Drive
Aurora CO, 80016
Dear Peter,
We are pleased to offeryouthe position of Chief Financial Officer ("CFO"). Your annual compensationwillbe $300,000 paid on the standardpaycycle of the company. As a CFO,youwill be a part of thebonusprogram with a yearly bonus potential of$100,000based on the achievement onmutuallyagreeable objectives to be determined betweenyouand your supervisor. As CFO, at thistime,youwill report to Ryan Drexler, theExecutiveChairman of the Board and Interim CEO/President.
Additional Compensation:
| · | You will receive l % of the outstanding equity in common stock options, priced at the market value as of you hire date with a vesting schedule: |
| o | the remaining pro rata quarterly over the following 2years; |
| · | $50,000 sign-on bonus which will be payable withinfive(''5")daysfrom the hire date; |
| · | If the company experiences change of control, defined as the purchase or sale of |
more than 50% of the outstanding equity of the company, you will receive a 12-month severance package as well as an immediate vesting of any unvested options.
You will also be eligible to participate in the following MusclePharm benefits:
Benefits:Standard MusclePharm provided benefits for full-time employees, currently include the following:
| • | 40l(k) retirement account after Six Months of employment with a4%companymatch,MusclePharmenrollseligible employees on a Monthly basis. |
| • | Health,Dental, Vision and Life &DisabilityInsurance(1month after the l St) MusclePharm covers100%of the employee' s premium cost, while employeeisresponsible for 100%of spouse and dependentspremium. |
| • | Three days of sick leave |
| • | After 90 days you will accrue up to 4 weeks of paid vacation peryear. |
| • | USholidaysrecognized byMusclePharmare effectiveimmediately |
| • | $1,000 monthlycar allowance |
All employees of MusclePharm areemployed at will and, thus, either you or MusclePharm may terminate the employment relationship at any time, with or without cause. In addition, all of the benefits listed abovemaybe changed from time to time, at the sole discretion of MusclePharm.
We are pleased to welcome you to MusclePharm and we look forward to accomplishing great success together. Please sign below to accept this offer and plan to report to work on December 1, 2016.
Sincerely,
/s/ Sarah Jeffers
Sarah Jeffers
Human Resources Manager
Acceptance of Job Offer:
/s/ Peter Lynch
Print Name:Peter Lynch
Date:November 7, 2016
