Addendum to Service Agreement between IO Biotech ApS and Eva Ehrnrooth
This addendum updates the service agreement between IO Biotech ApS and Eva Ehrnrooth, the Chief Medical Officer (CMO). Effective April 1, 2021, the CMO's monthly gross salary is set at DKK 187,500, paid at the end of each month. The CMO will participate in the company's general pension scheme, with the company contributing 10% and the CMO contributing at least 3% of the gross salary. All other employment terms remain unchanged. This addendum must be attached to the original service agreement.
Exhibit 10.17
Addendum to Service Agreement
This addendum to the service agreement dated 21 August 2017 (the “Addendum”) is entered into between:
IO Biotech ApS
[***]
(the “Company”)
and
Eva Ehrnrooth
(the “CMO”)
| 1 | Remuneration |
| 1.1 | Effective from 1 April 2021, the monthly gross salary is DKK 187,500 payable monthly in arrears on the last working day of each month at the latest. |
| 2 | Pension scheme |
| 2.1 | The CMO will be part of the Company’s general pension scheme in force from time to time. In addition to the gross salary, the Company pays a pension contribution corresponding to 10% of the CMO’s gross salary, cf. clause 1.1. The CMO’s minimum pension contribution constitutes 3% of the CMO’s gross salary, cf. clause 1.1 |
| 3 | Other terms of employment |
| 3.1 | All other terms and conditions of the employment remain unchanged. |
| 3.2 | The CMO is to enclose this addendum to the service agreement. Addenda to the service agreement from an integral part of the service agreement. |
| Date: | Date: |
For and on behalf of the Company:
| /s/ Mai-Britt Zocca | /s/ Eva Ehrnrooth | |||
| Mai-Britt Zocca, CEO | Eva Ehrnrooth |
