Employment Agreement between Akouos, Inc. and Michael McKenna (Chief Medical Officer)
This agreement is between Akouos, Inc. and Michael McKenna, who will continue as the company's Chief Medical Officer. It outlines his at-will employment, compensation, benefits, and eligibility for bonuses and equity awards. The agreement also requires Dr. McKenna to sign a restrictive covenants agreement and details the terms for termination, including conditions for severance and non-competition. Either party may end the employment at any time, with specific provisions for termination with or without cause or for good reason.
Exhibit 10.3
EMPLOYMENT AGREEMENT
This Employment Agreement (the “Agreement”), is made and entered into by and between Akouos, Inc. (the “Company”), and Michael McKenna (“Executive”), and is effective as of August 12, 2021 (the “Effective Date”).
RECITALS
Whereas, the Company desires to continue to employ Executive as its Chief Medical Officer; and
Whereas, Executive is party to a letter agreement dated June 25, 2018 (and as amended and/or updated) with the Company (the “Existing Agreement”) which Existing Agreement will be superseded in its entirety by this Agreement; and
Whereas, Executive has agreed to accept such continued employment on the terms and conditions set forth in this Agreement;
Now, Therefore, in consideration of the foregoing and of the respective covenants and agreements of the parties herein contained, the parties hereto agree as follows:
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To Executive:
At the address set forth in Executive’s personnel file
To Company:
645 Summer Street
Suite 200
Boston, MA 02210
Attn: Chief Legal Officer
or to such other address as a party from time to time may designate by notice to the other.
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In Witness Whereof, the parties hereto have executed this Agreement.
AKOUOS, inc.
By: /s/ Emmanuel Simons
Name: Emmanuel Simons
Title: CEO
Date: August 10, 2021
EXECUTIVE:
/s/ Michael McKenna
Michael McKenna
Date: August 10, 2021
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EXHIBIT A
Payments Subject to Section 409A
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EXHIBIT B
Proprietary Information, and Inventions and Restrictive Covenants Agreement
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