Amendment to Employment Agreement, dated February 14, 2020, between the Company and Raj Kannan
140 Kendrick Street
Building C East
Needham, MA 02494
February 14, 2020
Re: Amendment to Executive Employment Letter
This Amendment (the Amendment) to the Executive Employment Letter dated May 31, 2019 (the Agreement) confirms the amended terms and conditions of your employment with Chiasma, Inc. (the Company) effective February 14, 2020. Except as expressly amended herein, the Agreement remains in full effect. Your Employee Confidentiality, Assignment and Noncompetition Agreement with the Company dated May 31, 2019 is unaltered and unamended by this Amendment and remains in full effect.
Section 8(e) of the Agreement is hereby amended by:
Adding, after the phrase the year in which the Change in Control occurs, the words (b-i) your accrued bonus (if any) with respect to the calendar year in which the Date of Termination occurs, subject to the Boards assessment of applicable bonus criteria and prorated from the beginning of such year to the Date of Termination; and
Adding, after the words (a) and (b), the words and (b-i)
This Amendment constitutes the complete agreement between you and the Company with respect to the subject matter herein and supersedes any prior agreements, representations or understandings (whether written, oral or implied) between you and the Company with respect to the subject matter herein.
Please acknowledge, by signing below, that you have accepted this Amendment.
|Very Truly Yours,|
|/s/ David Stack|| |
Chairman of the Board of Directors
|I have read and accept this Amendment:|
|/s/ Raj Kannan||02/18/2020|