POLARITYTE, INC. (NASDAQ:COOL) Files An 8-K Entry into a Material Definitive Agreement

POLARITYTE, INC. (NASDAQ:COOL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On March 23, 2020, the board of directors of PolarityTE, Inc. (“PTE”) adopted and approved a form of indemnification agreement for each current independent director of the Company and certain officers of the Company, including David Seaburg, President, Richard Hague, Chief Operating Officer, and Cameron Hoyler, General Counsel and EVP Corporate Development & Strategy.

Under the indemnification agreement, the Company agrees, among other things, to indemnify directors and certain officers under the circumstances and to the extent provided for therein, to the maximum extent permitted by Delaware law, including indemnification of expenses such as attorneys’ fees, judgments, penalties, fines and settlement amounts incurred by the director or officer in any claim arising out of the person’s service to the Company or its subsidiaries. The indemnification agreement also provides for the advancement of expenses relating to the indemnification obligations.

The foregoing summary of the terms of the indemnification agreement is qualified in its entirety by reference to, and should be read in conjunction with, the complete text of the form of the indemnification agreement. The form of indemnification agreement is filed as Exhibit 10.1 to this report and is incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 20, 2020, Ramses Erdtmann provided PTE with notice of his resignation as a Director of PTE effective March 23, 2020. Prior to his resignation, Mr. Erdtmann had expressed certain views, which were not in alignment with management’s views, regarding the strategic direction of PTE, including its financial and business development affairs.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1 Form of Indemnification Agreement

EX-10.1 2 ex10-1.htm   Exhibit 10.1   INDEMNIFICATION AGREEMENT   This Indemnification Agreement (“Agreement”),…
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PolarityTE, Inc., formerly Majesco Entertainment Company, is a technology company. The Company has developed, marketed, published and distributed software through online platforms. The Company develops applications for gaming on computers, handheld devices and game consoles. The Company is the owner of patent applications and know-how related to regenerative medicine and tissue engineering, as well as software applications used in diagnosis and treatment related to regenerative medicine. It seeks to develop and obtain regulatory approval for technology that will utilize a patient’s own tissue substrates for the regeneration of skin, bone, muscle, cartilage, fat, blood vessels and nerves. Its PolarityTE platform simplifies regeneration and allows cells to function naturally. The platform can be applied across all cells, tissues and composite structures. Its platform induces cell and tissue polarity, and creates functional tissue that mirrors natural development in the human body.

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