BIND THERAPEUTICS, INC.
EXHIBIT 10.1
BIND THERAPEUTICS, INC.
October 24, 2013
Yurii Udaltsov, Cand. Sc.
Re: | Waiver of Director Compensation |
Dear Yurii:
This letter agreement confirms the understanding of BIND Therapeutics, Inc. (the Company) that you desire to waive all compensation payable to you by the Company for your service as a member of the Companys board of directors (the Board) or any committee of the Board during the period commencing on the closing date of the initial public offering of the Companys capital stock and ending on the date you provide written notice of revocation to the Company as set forth below (the Waiver Period). Consequently, the Company will not pay to you, and you will not be entitled to receive, any compensation for your services as a member of the Board or any committee of the Board during the Waiver Period, whether in cash, equity or property and whether under the Companys non-employee director compensation program or otherwise. You may revoke the foregoing waiver at any time by delivering written notice of revocation to the Companys Chief Financial Officer, provided that any such revocation shall not be effective against, and you shall not be entitled upon such revocation to receive, compensation for services performed as a member of the Board or any committee of the Board prior to the date such revocation is delivered.
To acknowledge your agreement with and understanding of the foregoing, please countersign and return a copy of this letter agreement to me at the Companys principal executive offices or by email at ***@***.
Sincerely, |
/s/ Andrew Hirsch |
Andrew Hirsch |
Chief Financial Officer |
Acknowledged and agreed: |
/s/ Yurii Udaltsov |
Yurii Udaltsov, Cand. Sc. |