Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its Chief Financial Officer. The Executive shall also serve as Chief Financial Officer of InVivo Therapeutics Corporation, the Company's wholly-owned subsidiary. The Executive shall be based at the Company's headquarters in Cambridge, MA. (b) While the Executive is employed by the Company, the Executive shall devote his bu
...siness time, energies and talents to serving as its Chief Financial Officer. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Officer. The Executive shall report to the CEO and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. (e) The Executive's employment with the Company is "at-will," which means that either the Executive or the Company may terminate the Executive's employment at any time, for any reason, or for no reason, by providing notice thereof to the other party, subject to the terms of this Agreement. The Executive acknowledges that the Agreement does not constitute a contract of employment for any particular period of time or impose on the Company any obligation to retain the Executive as an employee. If the Executive's employment with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company.
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its
interim Chief Financial
Officer. The Officer during the Agreement Term (as defined below). In addition, the Executive shall
also serve as
interim Chief Financial Officer of InVivo Therapeutics Corporation, the Company's
wholly-owned wholly owned subsidiary.
The Executive shall be based at (b) During the
Company's headq...uarters in Cambridge, MA. (b) While Agreement Term, while the Executive is employed by the Company, the Executive shall devote his business full time, energies and talents to serving as its interim Chief Financial Officer. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). "Board") and the Chief Executive Officer. The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Officer. The Executive shall report to the CEO Chief Executive Officer and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. him hereunder. (d) Notwithstanding the foregoing provisions of this Section 1, during the Agreement Term, the Executive may devote reasonable time to activities other than those required under this Agreement ("outside activities"), including the supervision of his personal investments, and activities involving professional, charitable, community, educational, religious and similar types of organizations, speaking engagements, membership on the boards of directors of other organizations, and similar types of activities, to the extent that such other activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement, or conflict in any material way with the business of the Company or any subsidiary. It is understood and agreed by the parties that the Executive's continued participation in such activities shall not be a breach of this Agreement. (e) The Executive's employment with "Agreement Term" shall be the Company is "at-will," which means that either period beginning on the Executive or Effective Date and ending on April 30, 2014. The Agreement Term may be extended upon the mutual agreement of the Company, as approved by the Board, and the Executive. In addition, the Company may terminate choose to convert this agreement from an interim position to a permanent position ("Conversion Right"). If the Company chooses to exercise its Conversion Right, it will inform Executive on or before April 15, 2014 that it is exercising this option. Upon exercise of this right, the following changes to this Agreement will automatically occur: (i) Executive's employment at any time, for any reason, or for no reason, by providing notice thereof title will automatically change from "Interim Chief Financial Officer" to "Chief Financial Officer"; (ii) the Company will grant you 150,000 options to purchase shares of the Company's Common Stock (the "Option Grant"). The exercise price and all terms governing the Option Grant will be determined according to the InVivo 2010 Equity Incentive Plan attached hereto as Exhibit A; and (iii) all bonus payments made in 2015 and subsequent years will be determined based on the provisions of the bonus plan governing executive bonuses at that time, except that the target bonus will remain at 50% of annual salary. Other than as provided in Section 1(e)(i), (ii) and (iii), all other party, subject to the terms provisions of this Agreement. The Executive acknowledges that the Agreement does not constitute a contract of employment for any particular period of time or impose on will remain in full force and effect if the Company any obligation chooses to retain the Executive as an employee. If the Executive's employment with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. exercise its Conversion Right.
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its
interim Chief Financial
Officer. The Officer during the Agreement Term (as defined below). In addition, the Executive shall
also serve as
interim Chief Financial Officer of InVivo Therapeutics Corporation, the Company's
wholly-owned wholly owned subsidiary.
The Executive shall be based at (b) During the
Company's headq...uarters in Cambridge, MA. (b) While Agreement Term, while the Executive is employed by the Company, the Executive shall devote his business full time, energies and talents to serving as its interim Chief Financial Officer. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). "Board") and the Chief Executive Officer. The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Officer. The Executive shall report to the CEO Chief Executive Officer and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. him hereunder. (d) Notwithstanding the foregoing provisions of this Section 1, during the Agreement Term, the Executive may devote reasonable time to activities other than those required under this Agreement ("outside activities"), including the supervision of his personal investments, and activities involving professional, charitable, community, educational, religious and similar types of organizations, speaking engagements, membership on the boards of directors of other organizations, and similar types of activities, to the extent that such other activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement, or conflict in any material way with the business of the Company or any subsidiary. It is understood and agreed by the parties that the Executive's continued participation in such activities shall not be a breach of this Agreement. (e) The Executive's employment with of the Executive by the Company is "at-will," which means originally commenced on December 31, 2013. Unless sooner terminated as set forth in this Agreement, the term of this Agreement shall end on December 31, 2014 (the "Initial Term"); provided, however, that this Agreement will automatically renew for additional one-month periods (each a "Renewal Term") on the each anniversary thereafter, unless either the Executive or the Company may terminate the Executive's employment at any time, for any reason, or for no reason, by providing party provides written notice thereof to the other party, subject party of its or his intent not to the terms of this Agreement. The Executive acknowledges that extend the Agreement does not constitute a contract of employment for any particular period of time pursuant to Section 3(c) or impose on the Company any obligation to retain the Executive Section 3(d), as an employee. If the Executive's employment with the Company terminates for any reason, the Executive applicable. The "Agreement Term" shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company Initial Term and any changes therein which may be adopted from time to time by the Company. Renewal Term.
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its Chief
Financial Officer. The Executive Officer and President during the Agreement Term (as defined below). In addition, the Executive shall
also serve as Chief
Financial Officer Executive Officer, President and/or a director of
InVivo Therapeutics Corporation, the Company's
wholly-owned subsidiary. The Executive shall ...be based at subsidiaries during the Company's headquarters in Cambridge, MA. Agreement Term. (b) While During the Agreement Term, while the Executive is employed by the Company, the Executive shall devote his her full business time, energies and talents to serving as its Chief Financial Executive Officer. (c) The Executive agrees that she shall perform her duties faithfully and efficiently subject to the directions of the Board of Directors of the Company (the "Board"). The Executive shall not, without her consent, be assigned tasks that would be inconsistent with those of Chief Executive Officer. The Executive may, however, serve shall report to the Board and shall have such authority, power, responsibilities and duties as are inherent in her position (and the undertakings applicable to her position) and necessary to carry out her responsibilities and the duties required of her under this Agreement. (d) Notwithstanding the foregoing provisions of this Section 1, during the Agreement Term, the Executive may devote reasonable time to activities other than those required under this Agreement ("outside activities"), including the supervision of her personal investments, and activities involving professional, charitable, community, educational, religious and similar types of organizations, speaking engagements, membership on outside the boards of directors, directors of other organizations, and similar types of activities, to the extent that such other activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement, or conflict in any material way with the business of the Company or any subsidiary. The parties acknowledge that the Executive is currently engaged in other business activities outside of the Company and agree that the Executive can continue those activities during the Agreement Term, provided such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with Agreement. It is understood and agreed by the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities parties that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Officer. The Executive shall report to the CEO and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. (e) The Executive's employment with the Company is "at-will," which means that either the Executive or the Company may terminate the Executive's employment at any time, for any reason, or for no reason, by providing notice thereof to the other party, subject to the terms continued participation in such activities shall not be a breach of this Agreement. (e) The Executive acknowledges that the term of this Agreement does not constitute a contract of employment for any particular period of time or impose shall begin on the Company any obligation to retain the Executive as an employee. If the Executive's employment February 1, 2014 (the "Effective Date") and end on January 31, 2015, unless terminated earlier in accordance with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. this Agreement (the "Agreement Term").
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its
interim Chief
Financial Officer. The Executive Officer during the Agreement Term (as defined below). In addition, the Executive shall
also serve as
interim Chief
Financial Executive Officer of InVivo Therapeutics Corporation, the Company's
wholly-owned wholly owned subsidiary.
The Executive shall be based at (b) During... the Company's headquarters in Cambridge, MA. (b) While Agreement Term, while the Executive is employed by the Company, the Executive shall devote his business full time, energies and talents to serving as its interim Chief Financial Executive Officer. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Executive Officer. The Executive shall report to the CEO Board and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. (e) The him hereunder. (d) Notwithstanding the foregoing provisions of this Section 1, during the Agreement Term, the Executive may devote reasonable time to activities other than those required under this Agreement ("outside activities"), including the supervision of his personal investments, and activities involving professional, charitable, community, educational, religious and similar types of organizations, speaking engagements, membership on the boards of directors of other organizations, and similar types of activities, to the extent that such other activities do not materially inhibit or prohibit the performance of the Executive's employment duties under this Agreement, or conflict in any material way with the Company is "at-will," which means that either the Executive or business of the Company may terminate or any subsidiary. It is understood and agreed by the parties that the Executive's employment at any time, for any reason, or for no reason, by providing notice thereof to the other party, subject to the terms continued participation in such activities shall not be a breach of this Agreement. (e) The Executive acknowledges that "Agreement Term" shall be the Agreement does not constitute a contract of employment for any particular period of time or impose beginning on the Company any obligation to retain the Executive as an employee. If the Executive's employment with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, Effective Date and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. ending on January 10, 2014.
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to employ the Executive as its
interim Chief Financial
Officer. The Officer during the Agreement Term (as defined below). In addition, the Executive shall
also serve as
interim Chief Financial Officer of InVivo Therapeutics Corporation, the Company's
wholly-owned wholly owned subsidiary.
The Executive shall be based at (b) During the
Company's headq...uarters in Cambridge, MA. (b) While Agreement Term, while the Executive is employed by the Company, the Executive shall devote his business full time, energies and talents to serving as its interim Chief Financial Officer. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). "Board") and the Chief Executive Officer. The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Officer. The Executive shall report to the CEO Chief Executive Officer and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. (e) The him hereunder. (d) Notwithstanding the foregoing provisions of this Section 1, during the Agreement Term, the Executive may devote reasonable time to activities other than those required under this Agreement ("outside activities"), including the supervision of his personal investments, and activities involving professional, charitable, community, educational, religious and similar types of organizations, speaking engagements, membership on the boards of directors of other organizations, and similar types of activities, to the extent that such other activities do not materially inhibit or prohibit the performance of the Executive's employment duties under this Agreement, or conflict in any material way with the Company is "at-will," which means that either the Executive or business of the Company may terminate or any subsidiary. It is understood and agreed by the parties that the Executive's employment at any time, for any reason, or for no reason, by providing notice thereof to the other party, subject to the terms continued participation in such activities shall not be a breach of this Agreement. (e) The Executive acknowledges that "Agreement Term" shall be the Agreement does not constitute a contract of employment for any particular period of time or impose beginning on the Company any obligation to retain Effective Date and ending on the Executive as an employee. If the Executive's employment with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as three month anniversary of the date of such termination, as an officer or director of any subsidiary Effective Date. The Agreement Term may be extended upon the mutual agreement of the Company, as approved by the Board, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. Executive.
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to
continue to employ the Executive as its
Senior Vice President, Chief
Financial Officer. Compliance Officer & General Counsel. The Executive shall
also continue to serve as
Senior Vice President, Chief
Financial Compliance Officer
& General Counsel of InVivo Therapeutics Corporation, the Company's
wholly-owned wholly owned subsidiary. The Executiv
...e shall continue to be based at the Company's headquarters in Cambridge, MA. (b) While the Executive is employed by the Company, the Executive shall devote his her business time, energies and talents to serving as its Senior Vice President, Chief Financial Officer. Compliance Officer & General Counsel. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he she shall perform his her duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). The Executive shall not, without his her consent, be assigned tasks that would be inconsistent with those of the Senior Vice President, Chief Financial Officer. Compliance Officer & General Counsel. The Executive shall report to the CEO and shall have such authority, power, responsibilities and duties as are inherent in his her position (and the undertakings applicable to his her position) and necessary to carry out his her responsibilities and the duties required of him. (e) her hereunder. (d) The Executive's employment with the Company is "at-will," which means that either the Executive or the Company may terminate the Executive's employment at any time, for any reason, or for no reason, by providing notice thereof to the other party, subject to the terms of this Agreement. The Executive acknowledges that the Agreement does not constitute a contract of employment for any particular period of time or impose on the Company any obligation to retain the Executive as an employee. If the Executive's employment with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) (e) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company.
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Performance of Services. The Executive's employment with the Company shall be subject to the following: (a) Subject to the terms of this Agreement, the Company hereby agrees to
continue to employ the Executive as its Chief
Financial Scientific Officer. The Executive shall
also continue serve
to as Chief
Financial Scientific Officer of InVivo Therapeutics Corporation, the Company's
wholly-owned wholly owned subsidiary. The Executive shall
continue to be based at the Company's headquarters in Cambridge, MA. (b) While the
...Executive is employed by the Company, the Executive shall devote his full business time, energies and talents to serving as its Chief Financial Scientific Officer. The Executive may, however, serve on outside boards of directors, to the extent that such activities do not materially inhibit or prohibit the performance of the Executive's duties under this Agreement or conflict in any material way with the business of the Company or any subsidiary. (c) The Executive shall serve as a Section 16 officer of the Company subject to the various regulatory filing responsibilities that must be met by directors, officers and principal stockholders as required by this section of the Securities and Exchange Act of 1934, as amended, and the related rules and regulations of the Securities and Exchange Commission. (d) The Executive agrees that he shall perform his duties faithfully and efficiently subject to the directions of the Chief Executive Officer ("CEO") and the Board of Directors of the Company (the "Board"). The Executive shall not, without his consent, be assigned tasks that would be inconsistent with those of the Chief Financial Scientific Officer. The Executive shall report to the CEO and shall have such authority, power, responsibilities and duties as are inherent in his position (and the undertakings applicable to his position) and necessary to carry out his responsibilities and the duties required of him. (e) him hereunder. (d) The Executive's employment with the Company is "at-will," which means that either the Executive or the Company may terminate the Executive's employment at any time, for any reason, or for no reason, by providing notice thereof to the other party, subject to the terms of this Agreement. The Executive acknowledges that the Agreement does not constitute a contract of employment for any particular period of time or impose on the Company any obligation to retain the Executive as an employee. If the Executive's employment with the Company terminates for any reason, the Executive shall be deemed to have resigned, effective as of the date of such termination, as an officer or director of any subsidiary of the Company, and the Executive hereby agrees to promptly execute resignation letters documenting such resignations upon the request of the Company. (f) (e) The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company.
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