Eric A. Lefebvre, M.D.
February 27, 2018
Restricted Shares but at the same purchase price per share as the Restricted Shares) to purchase 178,321 shares of the Companys common stock, which will be subject to the terms and conditions of the Plan and a restricted stock purchase agreement. This additional grant will vest upon the successful completion of a Phase Ib study with a pharmacodynamic marker in 2019, as determined by the Board in its sole discretion. Vesting of both the Restricted Shares and the additional grant is contingent on your continued full-time employment with the Company.
In addition, the Company will provide you with a sign-on bonus of $80,000. This bonus will be paid during your first month of employment at the Company. Should you decide to leave the Company within the first year of your employment, you will be expected to repay the bonus on a prorated basis.
As a Company employee, you will be expected to abide by Company rules and policies. As a condition of employment, you must sign and comply with the attached Employee Confidential Information and Inventions Assignment Agreement, which prohibits unauthorized use or disclosure of Company proprietary information, among other obligations.
In your work for the Company, you will be expected not to use or disclose any confidential information, including trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. You agree that you will not bring onto Company premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation of confidentiality. You hereby represent that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company.
Normal business hours are from 8:00 a.m. to 5:00 p.m., Monday through Friday. As an exempt salaried employee, you will be expected to work additional hours as required by the nature of your work assignments. Your employment with the Company will be at will. You may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at any time, with or without cause or advance notice. Your employment at-will status can only be modified in a written agreement signed by you and by an officer of the Company.
Notwithstanding the foregoing, if the Company terminates your employment without Cause (as defined below), and other than for death or disability, then the Company will pay you cash severance (the Severance) in an amount equal to nine (9) months of your base salary at the time of termination. Should you become re-employed within a 9 month period, you agree to repay the