Exhibit 10.1





 


Amendment to the Employment Agreement


 


This Amendment to the Employment
Agreement (the “Amendment”) is entered into by and between InVivo Therapeutics Holdings Corp. (the “Company”)
and Richard Christopher (the “Executive”) and shall become effective as of November 17, 2022 (the “Effective Date”).


 


WHEREAS, the Company and Executive
are parties to an Employment Agreement dated December 24, 2018 (the “Employment Agreement”), pursuant to which Executive
serves as the Company’s Chief Financial Officer; and


 


WHEREAS, the Company wishes
to amend certain terms of Executive’s Employment Agreement to extend Executive’s eligibility for the Company’s health
insurance continuation benefits in the event of certain termination circumstances; and


 


WHEREAS, Executive has agreed
to the amendments of the Employment Agreement set forth in this Amendment;


 


NOW, THEREFORE, in consideration
of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereto agree to the following changes to the Employment Agreement, effective as of the Effective Date:


 


		1.	Section 4(b)(i) of the Employment Agreement shall be deleted in its entirety and replaced with the following:



 


“
(i)        If the Executive’s employment is terminated without Cause by the Company or
by the Executive for Good Reason, in each case prior to, or more than 12 months following, a Change in Control (as defined in the Award Agreement), the 
Company shall, in addition to paying the Accrued Obligations, (A) continue to pay the Executive, as severance, his salary as
in effect on the Date of Termination, paid in accordance with the Company’s usual payroll practices,
for a period of 12 months following the Date of Termination and (B) if the Executive is participating
in the Company’s employee group health insurance plans on the Date of Termination, and if the Executive is eligible
for and timely elects to continue receiving group health insurance under the continuation coverage rules known
as COBRA, continue to pay the share of the premium for such coverage that it pays for active and similarly-situated employees who receive the same
type of coverage until the earlier of (x) the twelve (12) month anniversary of the Date of Termination, and (y) the date the Executive becomes eligible for coverage
under a new employer’s group health plan, unless, as a result of a change in legal requirements, the Company’s provision of
payments for COBRA will violate the nondiscrimination requirements of applicable law, in which case this benefit will not apply.”


 


		2.	Except as expressly modified herein, all terms of the Employment Agreement shall remain in full force
and effect.



 


[Signature Page Follows]


 






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IN WITNESS WHEREOF, the parties
hereto have executed this Amendment as of the day and year set forth below.


 


	INVIVO THERAPEUTICS HOLDINGS CORP.	 	EXECUTIVE:
	 	 	 
	/s/ Richard Toselli	 	/s/ Richard Christopher
	Richard Toselli, M.D.	 	Richard Christopher
	President and Chief Executive Officer	 	 
	 	 	 
	Date: November 17, 2022	 	Date: November 17, 2022




 



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