Resignation and Consulting Agreement, dated September 25, 2024, by and between Julie Feder and the Registrant

Contract Categories: Human Resources - Consulting Agreements
EX-10.2 3 aura-ex10_2.htm EX-10.2 EX-10.2

Exhibit 10.2

 

September 25, 2024

PERSONAL AND CONFIDENTIAL

Julie Feder

Re: Resignation and Consulting Agreement

Dear Ms. Feder:

This letter confirms your resignation from your employment with Aura Biosciences, Inc. (the “Company”) effective on October 25, 2024 (the “Resignation Date”). The Company is also offering you the opportunity to enter into a consulting relationship with the Company following the Resignation Date. The terms of the consulting engagement, should you accept this offer, are set forth below (the “Consulting Agreement”).

1.
Consulting Period; Services; Consideration. Provided you enter into, do not revoke and comply with the Transition and Release Agreement with the Company, which was provided to you on September 25, 2024 (the “Release Agreement”), the term of this Consulting Agreement and your services as a consultant for the Company shall commence immediately following the Resignation Date and, unless terminated earlier pursuant to Section 6 below, shall continue in effect through December 31, 2024 (the “Consulting Period”). During the Consulting Period, you shall provide to the Company the services reasonably requested by the Company that relate to your responsibilities during your employment (the “Services”), with such Services approximating ten (10) hours per month on average during the Consulting Period, unless otherwise mutually agreed by you and the Company. As consideration for your agreement to this Consulting Agreement, subject to the terms of the Company’s Amended and Restated 2009 Stock Option and Restricted Stock Plan, 2018 Equity Incentive Plan and 2021 Stock Option and Incentive Plan, and the associated restricted stock unit award agreements and stock option agreements (the “Equity Documents”), your previously granted equity (the “Equity Grants”) shall continue to vest during the Consulting Period, provided that you comply with the restrictions on your sale of Vested Equity (as defined in the Release Agreement) as set forth in Section 3 of the Release Agreement. Consultant hereby acknowledges and agrees that (i) to the extent any Equity Grants that are stock options are currently “incentive stock options”, such shares must be exercised within three months following the date Consultant ceased being an employee of the Company to qualify as “incentive stock options”, and (ii) after such three-month period, such shares shall automatically become non-qualified stock options. Consultant is encouraged to consult with a tax advisor regarding the tax treatment of Consultant’s stock options.
2.
Expenses. The Company shall reimburse you for reasonable and necessary out-of-pocket expenses incurred by you in the performance of the Services to the Company, provided such out-of-pocket expenses are approved in advance by the Company in writing and further supported by reasonable documentation.
3.
Resignation from Other Positions. In connection with the ending of your employment, you hereby (i) resign from your status as an employee, officer or other positions you occupy at the Company and resign from your status as an employee, officer, director or other positions you occupy at any subsidiary of the Company, in each case, effective as of the last day of your employment and (ii) agree to execute such documentation as the Company reasonably requires to effectuate such resignations.
4.
Ongoing Obligations. You are subject to continuing obligations under (i) your Confidential Information, Non-Solicitation and Invention Assignment Agreement (the “Restrictive Covenants

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Agreement”), (ii) Section 10 (Non-disparagement) of your offer letter with the Company dated August 10, 2018, and (iii) the Release Agreement (collectively, the “Ongoing Obligations”). The Ongoing Obligations, along with any other confidentiality and restrictive covenant obligations you have to the Company, shall remain in full force and effect, and are incorporated by reference herein. Additionally, you shall continue to be subject to the terms of the Company’s Amended and Restated Insider Trading Policy and any other policies applicable to consultants.
5.
Independent Contractor. You agree that you are not, nor shall you be deemed to be at any time during the term of this Consulting Agreement, an employee of the Company. Your status and relationship with the Company shall be that of an independent contractor and consultant. You shall not state or imply, directly or indirectly, that you are empowered to bind the Company without the Company’s prior written consent. Nothing herein shall create, expressly or by implication, a partnership, joint venture or other association between you and the Company. You acknowledge and agree that you are obligated to pay all taxes, unemployment, disability insurance and workers’ compensation payments applicable to you or the Services, and that you will not be eligible for any employee benefits, except as specified herein or in the Release Agreement, and expressly waive any entitlement to such benefits. You agree that the Services will be provided by you directly and not any other person or entity.

Except insofar as it would preclude you from providing the Services under this Consulting Agreement or violate a term of this Consulting Agreement or the Ongoing Obligations, you are free to perform services for any other person.

6.
Cancellation of Services. The Company may, at any time, terminate the performance of all or any portion of the Services to be provided hereunder and either you or the Company may terminate this Consulting Agreement upon sixty (60) days prior written notice to the nonterminating party stating its intention to terminate. The Company, however, may immediately terminate the Services and this Agreement for Cause. For purposes of this Consulting Agreement, “Cause” shall mean, as determined by the Company in good faith: (a) willful failure or refusal to perform the Services; (b) your material breach of any written agreement between you and the Company, including but not limited to this Consulting Agreement and the Ongoing Obligations; or (c) your gross negligence or willful misconduct that would reasonably be expected to result in material injury or reputational harm to the Company if you were to continue to be engaged by the Company.
7.
Warranties of Consultant. You represent to the Company that (i) with respect to any information, know-how, knowledge or data disclosed by you to the Company in the performance of this Consulting Agreement, you have the full and unrestricted right to disclose the same; and (ii) you are free to undertake the services required by this Agreement, and there is, and shall be, no conflict of interest between your performance of this Consulting Agreement and any obligation you may have to other parties.
8.
Indemnification. You shall indemnify and hold the Company, its affiliates and their respective directors, officers, agents and employees harmless from and against all claims, demands, losses, damages and judgments, including court costs and attorneys’ fees, arising out of or based upon any breach or alleged breach by you of any obligation set forth in this Consulting Agreement, or your gross negligence or willful misconduct. You further agree to indemnify the Company and hold it harmless to the extent of any obligation imposed on the Company (i) to pay withholding taxes or any other applicable taxes or (ii) otherwise resulting from you being determined not to be an independent contractor.
9.
Entire Agreement; Jurisdiction; Governing Law; Interpretation. This Consulting Agreement and the Ongoing Obligations constitute the entire agreement between you and the Company with respect to the matters contained herein, and supersede all proposals and agreements, written or oral, and all other communications between you and the Company relating to the subject matter of this Consulting

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Agreement. You and the Company hereby agree that the state and federal courts of Massachusetts shall have the exclusive jurisdiction to consider any matters related to this Consulting Agreement. This Consulting Agreement shall be interpreted and enforced under the laws of the Commonwealth of Massachusetts, without regard to conflict of law principles. This Consulting Agreement may not be modified or amended except in writing signed or executed by you and the Company. In case any provisions (or portions thereof) contained in this Consulting Agreement will, for any reason, be held invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect the other provisions of this Consulting Agreement, and this Consulting Agreement will be construed as if such invalid, illegal or unenforceable provision had never been contained herein.
10.
Effective Date. To accept this Consulting Agreement, you must return a signed original or a signed PDF copy of this Consulting Agreement so that it is received by the General Counsel of the Company by 5:00 PM on September 26, 2024. This Consulting Agreement shall become effective on the day it becomes fully executed.

Please indicate your agreement to the terms of this Consulting Agreement by signing and returning to the Chief Executive Officer the original or a PDF copy of this Consulting Agreement within the time period set forth above.

Sincerely,

AURA BIOSCIENCES, INC.

By: /s/ Elisabet de los Pinos

Elisabet de los Pinos, PhD

Chief Executive Officer

 

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I agree to the terms of this Consulting Agreement.

/s/ Julie Feder
Julie Feder

9/26/2024
Date

 

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