This EMPLOYMENT AGREEMENT (the Agreement) is entered into effective September 23, 2016 (the Effective Date), by and between Avedro, Inc. (the Company) and Reza Zadno, Ph.D. (the Employee).
Between July 11, 2016 and September 23, 2016, Employee was employed as interim Chief Executive Officer (CEO) of the Company, pursuant to the terms of the July 11, 2016 offer letter;
On September 23, 2016 the Companys Board of Directors (Board) voted to change the Employees status from Interim CEO to permanent CEO;
Effective as of January 1, 2017, the Board voted to increase Employees Base Salary as described in Section 2.1 herein;
The Company desires to continue to employ the Employee in the capacity of full-time CEO pursuant to the terms of this Agreement and, in connection therewith, to compensate the Employee for Employees personal services to the Company; and
The Employee wishes to be employed by the Company and provide personal services to the Company in return for certain compensation.
Accordingly, in consideration of the mutual promises and covenants contained herein, the parties agree to the following:
1. EMPLOYMENT BY THE COMPANY.
1.1 At-Will Employment. Employee shall be employed by the Company on an at-will basis, meaning either the Company or Employee may terminate Employees employment at any time, with or without cause or advanced notice. Any contrary representations that may have been made to Employee shall be superseded by this Agreement. This Agreement shall constitute the full and complete agreement between Employee and the Company on the at-will nature of Employees employment with the Company, which may be changed only in an express written agreement signed by Employee and a duly authorized officer of the Company. Employees rights to any compensation following a termination shall be only as set forth in Section 6.
1.2 Position. Subject to the terms set forth herein, the Company agrees to employ Employee, initially in the position of CEO and Employee hereby accepts such employment. During the term of Employees employment with the Company, Employee will devote Employees best efforts and substantially all of Employees business time and attention to the business of the Company.
1.3 Duties. Employee will report to the Board and/or such other Board officers, company executives and/or committees designated by the Board, performing such duties as are normally associated with his then current position and such duties as are assigned to