Exhibit 10.7


 


Employment
Agreement


 


This Employment
Agreement (this “Agreement”), dated as of July 23, 2021, is made by and between Immuneering Corporation, a Delaware
corporation (together with any successor thereto, the “Company”), and Scott Barrett, M.D. (“Executive”)
(collectively referred to herein as the “Parties” or individually referred to as a “Party”), and
will become effective, if at all, upon the date of the Company’s initial public offering of common stock (“IPO”)
pursuant to an effective registration statement filed under the Securities Act of 1933, as amended (the “Effective Date”).


 


RECITALS


 


		A.	It is the desire of the Company to assure
                                            itself of the services of Executive as of the Effective Date and thereafter by entering into
                                            this Agreement.



 


		B.	Executive and the Company mutually desire
                                            that Executive provide services to the Company on the terms herein provided.



 


AGREEMENT


 


NOW, THEREFORE,
in consideration of the foregoing and of the respective covenants and agreements set forth below, the Parties hereto agree as follows:


 


1.            
Employment.


 


(a)               
General. Effective on the Effective Date, the Company shall employ Executive, and Executive shall be employed by the Company,
for the period and in the positions set forth in this Section 1, and subject to the other terms and conditions herein provided;
provided, however, that this Agreement is expressly conditioned upon the IPO closing before December 31, 2021 and will be null and void
if this condition is not satisfied.


 


(b)               
At-Will Employment. The Company and Executive acknowledge that Executive’s employment is and shall continue to be
at-will, as defined under applicable law, and that Executive’s employment with the Company may be terminated by either Party at
any time for any or no reason (subject to the notice requirements of Section 3(b)). This “at-will” nature of Executive’s
employment shall remain unchanged during Executive’s tenure as an employee and may not be changed, except in an express writing
signed by Executive and a duly authorized officer of the Company. If Executive’s employment terminates for any reason, Executive
shall not be entitled to any payments, benefits or compensation other than as provided in this Agreement or otherwise agreed to in writing
by the Company or as provided by applicable law. The term of this Agreement (the “Term”) shall commence on the Effective
Date and end on the date this Agreement is terminated under Section 3.


 


(c)               
Positions and Duties. During the Term, Executive shall serve as Chief Medical Officer of the Company, with such responsibilities,
duties and authority normally associated with such position and as may from time to time be assigned to Executive by the Chief Executive
Officer of the Company (the “CEO”). Executive shall devote substantially all of Executive’s working time and
efforts to the business and affairs of the Company (which shall include service to its affiliates, if applicable) and shall not engage
in outside business activities (including serving on outside boards or committees) without the consent of the Board of Directors of the
Company or an authorized committee thereof (in either case, the “Board”), provided that Executive shall be permitted
to (i) manage Executive’s personal, financial and legal affairs, (ii) participate in trade associations, and (iii) serve on the
board of directors of not-for-profit or tax-exempt charitable organizations, in each case, subject to compliance with this Agreement
and provided that such activities do not materially interfere with Executive’s performance of Executive’s duties and responsibilities
hereunder. Executive agrees to observe and comply with the rules and policies of the Company as adopted by the Company from time to time,
in each case, as amended from time to time, and as delivered or made available to Executive (each, a “Policy”).


 






    	 	 	 



     


    




 


2.           
Compensation and Related Matters.


 


(a)               
Annual Base Salary. During the Term, Executive shall receive a base salary at a rate of $504,000 per annum, which shall
be paid in accordance with the customary payroll practices of the Company and shall be pro-rated for partial years of employment. Such
annual base salary shall be reviewed (and may be adjusted) from time to time by the Board (such annual base salary, as it may be adjusted
from time to time, the “Annual Base Salary”).


 


(b)               
Annual Cash Bonus Opportunity. During the Term, Executive will be eligible to participate in an annual incentive program
established by the Board. Executive’s annual incentive compensation under such incentive program (the “Annual Bonus”)
shall be targeted at 20% of Executive’s Annual Base Salary (such target, as may be adjusted by the Board from time to time, the
 “Target Annual Bonus”). The Annual Bonus payable under the incentive program shall be based on the achievement of
performance goals to be determined by the Board and may in the Board’s discretion be calculated in a manner intended to reflect
any mid-year changes in Annual Base Salary or Target Annual Bonus. The payment of any Annual Bonus pursuant to the incentive program
shall be subject to Executive’s continued employment with the Company through the date of payment, except as otherwise provided
in Section 4(b).


 


(c)               
Benefits. During the Term, Executive shall be eligible to participate in employee benefit plans, programs and arrangements
of the Company, subject to the terms and eligibility requirements thereof and as such plans, programs and arrangements may be amended
or in effect from time to time. In no event shall Executive be eligible to participate in any severance plan or program of the Company,
except as set forth in Section 4 of this Agreement.


 


(d)               
Vacation. During the Term, Executive shall be entitled to paid personal leave in accordance with the Company’s Policies.
Any vacation shall be taken at the reasonable and mutual convenience of the Company and Executive.


 


(e)               
Business Expenses. During the Term, the Company shall reimburse Executive for all reasonable travel and other business
expenses incurred by Executive in the performance of Executive’s duties to the Company in accordance with the Company’s expense
reimbursement Policy.


 


(f)                
Key Person Insurance. At any time during the Term, the Company shall have the right (but not the obligation) to insure
the life of Executive for the Company’s sole benefit. The Company shall have the right to determine the amount of insurance and
the type of policy. Executive shall reasonably cooperate with the Company in obtaining such insurance by submitting to physical examinations,
by supplying all information reasonably required by any insurance carrier, and by executing all necessary documents reasonably required
by any insurance carrier, provided that any information provided to an insurance company or broker shall not be provided to the Company
without the prior written authorization of Executive. Executive shall incur no financial obligation by executing any required document,
and shall have no interest in any such policy.


 






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3.           
Termination.


 


Executive’s
employment hereunder and the Term may be terminated by the Company or Executive, as applicable, without any breach of this Agreement
under the following circumstances and the Term will end on the Date of Termination:


 


(a)          
Circumstances.


 


(i)                
Death. Executive’s employment hereunder shall terminate upon Executive’s death.


 


(ii)              
Disability. If Executive has incurred a Disability, as defined below, the Company may terminate Executive’s employment.


 


(iii)            
Termination for Cause. The Company may terminate Executive’s employment for Cause, as defined below.


 


(iv)            
Termination without Cause. The Company may terminate Executive’s employment without Cause.


 


(v)              
Resignation from the Company with Good Reason. Executive may resign Executive’s employment with the Company with
Good Reason, as defined below.


 


(vi)            
Resignation from the Company without Good Reason. Executive may resign Executive’s employment with the Company for
any reason other than Good Reason or for no reason.


 


(b)          
Notice of Termination. Any termination of Executive’s employment by the Company or by Executive under this Section
3 (other than termination pursuant to Section 3(a)(i)) shall be communicated by a written notice to the other Party hereto
(i) indicating the specific termination provision in this Agreement relied upon, (ii) setting forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated, if applicable,
and (iii) specifying a Date of Termination which, if submitted by Executive, shall be at least thirty (30) days following the date of
such notice (a “Notice of Termination”); provided, however, that in the event that Executive delivers a Notice
of Termination to the Company, the Company may, in its sole discretion, change the Date of Termination to any date that occurs following
the date of the Company’s receipt of such Notice of Termination and is prior to the date specified in such Notice of Termination,
but the termination will still be considered a resignation by Executive. A Notice of Termination submitted by the Company may provide
for a Date of Termination on the date Executive receives the Notice of Termination, or any date thereafter elected by the Company. The
failure by either Party to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause or
Good Reason shall not waive any right of the Party hereunder or preclude the Party from asserting such fact or circumstance in enforcing
the Party’s rights hereunder.


 


(c)          
Company Obligations upon Termination. Upon termination of Executive’s employment pursuant to any of the circumstances
listed in this Section 3, Executive (or Executive’s estate) shall be entitled to receive the sum of: (i) the portion
of Executive’s Annual Base Salary earned through the Date of Termination, but not yet paid to Executive; (ii) any expense reimbursements
owed to Executive pursuant to Section 2(e); and (iii) any amount accrued and arising from Executive’s participation in,
or benefits accrued under any employee benefit plans, programs or arrangements, which amounts shall be payable in accordance with the
terms and conditions of such employee benefit plans, programs or arrangements (collectively, the “Company Arrangements”).
Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of Executive’s rights
to salary, severance, benefits, bonuses and other compensatory amounts hereunder (if any) shall cease upon the termination of Executive’s
employment hereunder.


 






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(d)            
Deemed Resignation. Upon termination of Executive’s employment for any reason, Executive shall be deemed to have
resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.


 


4.            
Severance Payments.


 


(a)            
Termination for Cause, or Termination Upon Death, Disability or Resignation from the Company Without Good Reason. If Executive’s
employment shall terminate as a result of Executive’s death pursuant to Section 3(a)(i) or Disability pursuant to Section
3(a)(ii), pursuant to Section 3(a)(iii) for Cause, or pursuant to Section 3(a)(vi) for Executive’s resignation
from the Company without Good Reason, then Executive shall not be entitled to any severance payments or benefits, except as provided
in Section 3(c).


 


(b)           
Termination without Cause, or Resignation from the Company with Good Reason. If Executive’s employment
terminates without Cause pursuant to Section 3(a)(iv), or pursuant to Section 3(a)(v) due to Executive’s
resignation with Good Reason, then except as otherwise provided under Section 4(c) and subject to Executive signing on or
before the 21st day following Executive’s Separation from Service (as defined below), and not revoking, a mutually agreeable release
of claims substantially in the form attached as Exhibit A to this Agreement (the “Release”) and Executive’s
continued compliance with Section 5, Executive shall receive, in addition to payments and benefits set forth in Section 3(c),
the following:


 


(i)                
an amount in cash equal to 1.0 times the Annual Base Salary, payable in the form of salary continuation in regular installments
over the 12 month period following the date of Executive’s Separation from Service (the “Severance Period”)
in accordance with the Company’s normal payroll practices;


 


(ii)              
to the extent unpaid as of the Date of Termination, an amount of cash equal to any Annual Bonus earned by Executive for the Company’s
fiscal year prior to the fiscal year in which the Date of Termination occurs, as determined by the Board in its discretion based upon
actual performance achieved, which Annual Bonus, if any, shall be paid to Executive in the fiscal year in which the Date of Termination
occurs when bonuses for such prior fiscal year are paid in the ordinary course to actively employed senior executives of the Company;
and


 


(iii)            
if Executive timely elects to receive continued medical, dental or vision coverage under one or more of the Company’s group
medical, dental or vision plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”),
then the Company shall directly pay, or reimburse Executive for, the COBRA premiums for Executive and Executive’s covered dependents
under such plans, less the amount Executive would have had to pay to receive such coverage as an active employee based on the cost sharing
levels in effect on the Date of Termination, during the period commencing on Executive’s Separation from Service and ending upon
the earliest of (A) the last day of the Severance Period, (B) the date that Executive and/or Executive’s covered dependents become
no longer eligible for COBRA and (C) the date Executive becomes eligible to receive medical, dental or vision coverage, as applicable,
from a subsequent employer (and Executive agrees to promptly notify the Company of such eligibility) (the “COBRA Continuation
Period”). Notwithstanding the foregoing, if the Company determines it cannot provide the foregoing benefit without potentially
violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or incurring an excise tax, the
Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive
would be required to pay to continue Executive’s and Executive’s covered dependents’ group health coverage in effect
on the Date of Termination (which amount shall be based on the premium for the first month of COBRA coverage), less the amount Executive
would have had to pay to receive such group health coverage as an active employee for Executive and his or her covered dependents based
on the cost sharing levels in effect on the Date of Termination, which payments shall be made for the remainder of the COBRA Continuation
Period.


 






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(c)         
Change in Control. In lieu of the payments and benefits set forth in Section 4(b), in the event Executive’s
employment terminates without Cause pursuant to Section 3(a)(iv), or pursuant to Section 3(a)(v)
due to Executive’s resignation with Good Reason, in either case, on or within twelve (12) months following the date of a Change
in Control, subject to Executive signing on or before the 21st day following Executive’s Separation from Service, and not revoking,
the Release and Executive’s continued compliance with Section 5, Executive shall receive, in addition to the payments and
benefits set forth in Section 3(c), the following:


 


(i)              
an amount in cash equal to 1.0 times the Annual Base Salary, payable in equal installments over the 12 month period following
the date of Executive’s Separation from Service (the “CIC Severance Period”) in accordance with the Company’s
normal payroll practices;


 


(ii)              
the payment set forth in Section 4(b)(ii);


 


(iii)            
the benefits set forth in Section 4(b)(iii), provided that for this purpose, the “Severance Period” will mean
the CIC Severance Period;


 


(iv)             
an amount in cash equal to 1.0 times the Target Annual Bonus, payable in a lump sum on the Company’s first ordinary payroll
date that occurs after the Date of Termination; and


 


(v)               
all unvested equity or equity-based awards held by Executive under any Company equity compensation plans that vest solely based
on continued employment or service shall immediately become 100% vested, with any other equity or equity-based awards being governed
by the terms of the applicable award agreement.


 


(d)          
Survival. Notwithstanding anything to the contrary in this Agreement, the provisions of Sections 5 through 9
will survive the termination of Executive’s employment and the termination of the Term.


  






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5.            
Restrictive Covenants. Executive agrees to abide by the terms of the Invention and Non-Disclosure
Agreement and the Non-Competition and Non-Solicitation Agreement, each dated October 11, 2019 (collectively, the “Restrictive Covenant
Agreement”), attached hereto as Exhibit B, which are hereby incorporated by reference into this Agreement. Executive acknowledges
that the provisions of the Restrictive Covenant Agreement will survive the termination of Executive’s employment and the termination
of the Term for the periods set forth in the Restrictive Covenant Agreement. Executive acknowledges and agrees that the Restrictive Covenant
Agreement shall be amended, effective as of the Effective Date, such that each reference to the Commonwealth of Massachusetts in each
Restrictive Covenant Agreement shall be replaced with a reference to the State of New York. 


 


6.            
Assignment and Successors.


 


The Company may
assign its rights and obligations under this Agreement to any of its affiliates or to any successor to all or substantially all of the
business or the assets of the Company (by merger or otherwise), and may assign or encumber this Agreement and its rights hereunder as
security for indebtedness of the Company and its affiliates. This Agreement shall be binding upon and inure to the benefit of the Company,
Executive and their respective successors, assigns, personal and legal representatives, executors, administrators, heirs, distributees,
devisees, and legatees, as applicable. None of Executive’s rights or obligations may be assigned or transferred by Executive, other
than Executive’s rights to payments hereunder, which may be transferred only by will or operation of law. Notwithstanding the foregoing,
Executive shall be entitled, to the extent permitted under applicable law and applicable Company Arrangements, to select and change a
beneficiary or beneficiaries to receive compensation hereunder following Executive’s death by giving written notice thereof to
the Company.


 


7.            
Certain Definitions.


 


(a)          
Cause. The Company shall have “Cause” to terminate Executive’s employment hereunder upon:


 


(i)                
The Board’s reasonable, good faith determination that Executive has refused to (A) substantially perform the duties associated
with Executive’s position with the Company or (B) carry out the reasonable and lawful instructions of the Board concerning duties
or actions consistent with the Executive’s position with the Company, in each case, that, to the extent capable of cure, has remained
uncured for a period of thirty (30) days following written notice from the Company;


 


(ii)              
Executive’s breach of a material provision of this Agreement that, to the extent capable of cure, has remained uncured for
a period of thirty (30) days following written notice from the Company;


 


(iii)            
Executive’s conviction, plea of no contest, plea of nolo contendere, or imposition of unadjudicated probation for
any felony or crime involving moral turpitude;


 


(iv)             
Executive’s unlawful use (including being under the influence) or possession of illegal drugs on the Company’s (or
any of its affiliate’s) premises or while performing Executive’s duties and responsibilities under this Agreement; or


 


(v)               
Executive’s commission of any act of fraud, embezzlement, misappropriation, willful misconduct, or breach of fiduciary duty
against the Company or any of its affiliates.


 


 






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(b)               
Change in Control. “Change in Control” shall have the meaning set forth in the Immuneering Corporation 2021
Incentive Award Plan, as in effect on the Effective Date.


 


(c)               
Code. “Code” shall mean the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated
thereunder.


 


(d)               
Date of Termination. “Date of Termination” shall mean (i) if Executive’s employment is terminated by
Executive’s death, the date of Executive’s death; or (ii) if Executive’s employment is terminated pursuant to Section
3(a)(ii) – (vi) either the date indicated in the Notice of Termination or the date specified by the Company pursuant
to Section 3(b), whichever is earlier.


 


(e)               
Disability. “Disability” shall mean, at any time the Company or any of its affiliates sponsors a long-term
disability plan for the Company’s employees, “disability” as defined in such long-term disability plan for the purpose
of determining a participant’s eligibility for benefits, provided, however, if the long-term disability plan contains multiple
definitions of disability, “Disability” shall refer to that definition of disability which, if Executive qualified for such
disability benefits, would provide coverage for the longest period of time. The determination of whether Executive has a Disability shall
be made by the person or persons required to make disability determinations under the long-term disability plan. At any time the Company
does not sponsor a long-term disability plan for its employees, “Disability” shall mean Executive’s inability to perform,
with or without reasonable accommodation, the essential functions of Executive’s positions hereunder for a total of three months
during any six-month period as a result of incapacity due to mental or physical illness as determined by a physician selected by the
Company or its insurers and acceptable to Executive or Executive’s legal representative, with such agreement as to acceptability
not to be unreasonably withheld or delayed. Any refusal by Executive to submit to a medical examination for the purpose of determining
Disability shall be deemed to constitute conclusive evidence of Executive’s Disability.


 


(f)                
Good Reason. For the sole purpose of determining Executive’s right to severance payments and benefits as described
above, Executive’s resignation will be with “Good Reason” if Executive resigns within ninety (90) days after any of
the following events, unless Executive consents in writing to the applicable event: (i) a reduction in Executive’s Annual Base
Salary or Target Annual Bonus, (ii) a material decrease in Executive’s authority or areas of responsibility as are commensurate
with Executive’s title or position with the Company, (iii) the relocation of Executive’s primary office to a location more
than twenty-five (25) miles from the Executive’s primary office as of the date of this Agreement or (iv) the Company’s breach
of a material provision of this Agreement. Notwithstanding the foregoing, no Good Reason will have occurred unless and until: (a) Executive
has provided the Company, within sixty (60) days of Executive’s knowledge of the occurrence of the facts and circumstances underlying
the Good Reason event, written notice stating with reasonable specificity the applicable facts and circumstances underlying such finding
of Good Reason; (b) the Company has had an opportunity to cure the same within thirty (30) days after the receipt of such notice;
and (c) the Company shall have failed to so cure within such period.


 


8.            
Parachute Payments.


 


(a)               
Notwithstanding any other provisions of this Agreement or any Company equity plan or agreement, in the event that any payment
or benefit by the Company or otherwise to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant
to the terms of this Agreement or otherwise (all such payments and benefits, including the payments and benefits under Section 4
hereof, being hereinafter referred to as the “Total Payments”), would be subject (in whole or in part) to the excise
tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Total Payments shall be reduced (in the
order provided in Section 8(b)) to the minimum extent necessary to avoid the imposition of the Excise Tax on the Total Payments,
but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local
income and employment taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal
exemptions attributable to such reduced Total Payments), is greater than or equal to (ii) the net amount of such Total Payments without
such reduction (but after subtracting the net amount of federal, state and local income and employment taxes on such Total Payments and
the amount of the Excise Tax to which Executive would be subject in respect of such unreduced Total Payments and after taking into account
the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments).


 


 






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(b)               
The Total Payments shall be reduced in the following order: (i) reduction on a pro rata basis of any cash severance payments that
are exempt from Section 409A of the Code (“Section 409A”), (ii) reduction on a pro rata basis of any non-cash
severance payments or benefits that are exempt from Section 409A, (iii) reduction on a pro rata basis of any other payments or benefits
that are exempt from Section 409A, and (iv) reduction of any payments or benefits otherwise payable to Executive on a pro rata basis
or such other manner that complies with Section 409A; provided, in case of clauses (ii), (iii) and (iv), that reduction of any payments
attributable to the acceleration of vesting of Company equity awards shall be first applied to Company equity awards that would otherwise
vest last in time.


 


(c)               
All determinations regarding the application of this Section 8 shall be made by an accounting firm or consulting group
with experience in performing calculations regarding the applicability of Section 280G of the Code and the Excise Tax selected by the
Company (the “Independent Advisors”). For purposes of determinations, no portion of the Total Payments shall be taken
into account which, in the opinion of the Independent Advisors, (i) does not constitute a “parachute payment” within the
meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) or (ii) constitutes reasonable compensation
for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base amount” (as
defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation. The costs of obtaining such determination and all
related fees and expenses (including related fees and expenses incurred in any later audit) shall be borne by the Company.


 


(d)               
In the event it is later determined that a greater reduction in the Total Payments should have been made to implement the objective
and intent of this Section 8, the excess amount shall be returned promptly by Executive to the Company.


 


9.            
Miscellaneous Provisions.


 


(a)               
Governing Law. This Agreement shall be governed, construed, interpreted and enforced in accordance with its express terms,
and otherwise in accordance with the substantive laws of the State of New York without reference to the principles of conflicts of law
of the State of New York or any other jurisdiction that would result in the application of the laws of a jurisdiction other than the
State of New York, and where applicable, the laws of the United States.


 


(b)               
Validity. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity
or enforceability of any other provision of this Agreement, which shall remain in full force and effect.


 


 






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(c)          
Notices. Any notice, request, claim, demand, document and other communication hereunder to any Party shall be effective
upon receipt (or refusal of receipt) and shall be in writing and delivered personally or sent by facsimile or certified or registered
mail, postage prepaid, as follows:


 


(i)                
If to the Company, to the General Counsel of the Company at the Company’s headquarters,


 


(ii)              
If to Executive, to the last address that the Company has in its personnel records for Executive, or


 


(iii)            
At any other address as any Party shall have specified by notice in writing to the other Party.


 


(d)          
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original,
but all of which together will constitute one and the same Agreement. Signatures delivered by facsimile or PDF shall be deemed effective
for all purposes.


 


(e)          
Entire Agreement. The terms of this Agreement and the Restrictive Covenant Agreement incorporated herein by reference as
set forth in Section 5, and are intended by the Parties to be the final expression of their agreement with respect to the subject
matter hereof and supersede all prior understandings and agreements, whether written or oral, including any prior employment offer letter
or employment agreement between Executive and the Company. The Parties further intend that this Agreement shall constitute the complete
and exclusive statement of their terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or
other legal proceeding to vary the terms of this Agreement.


 


(f)           
Amendments; Waivers. This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed
by Executive and a duly authorized officer of Company. By an instrument in writing similarly executed, Executive or a duly authorized
officer of the Company may waive compliance by the other Party with any specifically identified provision of this Agreement that such
other Party was or is obligated to comply with or perform; provided, however, that such waiver shall not operate as a waiver
of, or estoppel with respect to, any other or subsequent failure. No failure to exercise and no delay in exercising any right, remedy,
or power hereunder will preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity.


 


(g)         
Construction. This Agreement shall be deemed drafted equally by both the Parties. Its language shall be construed as a
whole and according to its fair meaning. Any presumption or principle that the language is to be construed against any Party shall not
apply. The headings in this Agreement are only for convenience and are not intended to affect construction or interpretation. Any references
to paragraphs, subparagraphs, sections or subsections are to those parts of this Agreement, unless the context clearly indicates to the
contrary. Also, unless the context clearly indicates to the contrary, (i) the plural includes the singular and the singular includes
the plural; (ii) “and” and “or” are each used both conjunctively and disjunctively; (iii) “any,”
 “all,” “each,” or “every” means “any and all,” and “each and every”; (iv)
 “includes” and “including” are each “without limitation”; (v) “herein,” “hereof,”
 “hereunder” and other similar compounds of the word “here” refer to the entire Agreement and not to any particular
paragraph, subparagraph, section or subsection; and (vi) all pronouns and any variations thereof shall be deemed to refer to the masculine,
feminine, neuter, singular or plural as the identity of the entities or persons referred to may require.


 






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(h)           
Arbitration. Any controversy, claim or dispute arising out of or relating to this Agreement, shall be settled solely and
exclusively by a binding arbitration process administered by JAMS/Endispute in New York, New York. Such arbitration shall be conducted
in accordance with the then-existing JAMS/Endispute Rules of Practice and Procedure, with the following exceptions if in conflict: (i)
one arbitrator who is a retired judge shall be chosen by JAMS/Endispute; (ii) each Party to the arbitration will pay one-half of the
expenses and fees of the arbitrator, together with other expenses of the arbitration incurred or approved by the arbitrator; and (iii)
arbitration may proceed in the absence of any Party if written notice (pursuant to the JAMS/Endispute rules and regulations) of the proceedings
has been given to such Party. Each Party shall bear its own attorney’s fees and expenses; provided that the arbitrator may assess
the prevailing Party’s fees and costs against the non-prevailing Party as part of the arbitrator’s award. The Parties agree
to abide by all decisions and awards rendered in such proceedings. Such decisions and awards rendered by the arbitrator shall be final
and conclusive. All such controversies, claims or disputes shall be settled in this manner in lieu of any action at law or equity; provided,
however, that nothing in this subsection shall be construed as precluding the bringing of an action for injunctive relief or specific
performance as provided in this Agreement or the Restrictive Covenant Agreement. This dispute resolution process and any arbitration
hereunder shall be confidential and neither any Party nor the neutral arbitrator shall disclose the existence, contents or results of
such process without the prior written consent of all Parties, except where necessary or compelled in a court to enforce this arbitration
provision or an award from such arbitration or otherwise in a legal proceeding. If JAMS/Endispute no longer exists or is otherwise unavailable,
the Parties agree that the American Arbitration Association (“AAA”) shall administer the arbitration in accordance
with its then-existing rules as modified by this subsection. In such event, all references herein to JAMS/Endispute shall mean AAA. Notwithstanding
the foregoing, Executive and the Company each have the right to resolve any issue or dispute over intellectual property rights by court
action instead of arbitration.


 


(i)              
Enforcement. If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future
laws effective during the Term, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal,
invalid or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall
remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from
this Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision there shall be added automatically as part of
this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid
and enforceable.


 


(j)             
Withholding. The Company shall be entitled to withhold from any amounts payable under this Agreement any federal, state,
local or foreign withholding or other taxes or charges which the Company is required to withhold. The Company shall be entitled to rely
on the advice of counsel if any questions as to the amount or requirement of withholding shall arise.


 


(k)           
Section 409A.


 


(i)                
General. The intent of the Parties is that the payments and benefits under this Agreement comply with or be exempt from
Section 409A and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith.


 


(ii)              
Separation from Service. Notwithstanding anything in this Agreement to the contrary, any compensation or benefits payable
under this Agreement that is designated under this Agreement as payable upon Executive’s termination of employment shall be payable
only upon Executive’s “separation from service” with the Company within the meaning of Section 409A (a “Separation
from Service”) and, except as provided below, any such compensation or benefits described in Section 4 shall not be
paid, or, in the case of installments, shall not commence payment, until the thirtieth (30th) day following Executive’s Separation
from Service (the “First Payment Date”). Any installment payments that would have been made to Executive during the
thirty (30) day period immediately following Executive’s Separation from Service but for the preceding sentence shall be paid to
Executive on the First Payment Date and the remaining payments shall be made as provided in this Agreement.


  






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(iii)         
Specified Employee. Notwithstanding anything in this Agreement to the contrary, if Executive is deemed by the Company at
the time of Executive’s Separation from Service to be a “specified employee” for purposes of Section 409A, to the extent
delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to avoid
a prohibited distribution under Section 409A, such portion of Executive’s benefits shall not be provided to Executive prior to the
earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service with the
Company or (ii) the date of Executive’s death. Upon the first business day following the expiration of the applicable Section 409A
period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to Executive (or Executive’s estate
or beneficiaries), and any remaining payments due to Executive under this Agreement shall be paid as otherwise provided herein.


 


(iv)         
Expense Reimbursements. To the extent that any reimbursements under this Agreement are subject to Section 409A, (A) any
such reimbursements payable to Executive shall be paid to Executive no later than December 31 of the year following the year in which
the expense was incurred, (B) Executive shall submit Executive’s reimbursement request promptly following the date the expense is
incurred, (C) the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year,
other than medical expenses referred to in Section 105(b) of the Code, and (D) Executive’s right to reimbursement under this Agreement
will not be subject to liquidation or exchange for another benefit.


 


(v)          
Installments. Executive’s right to receive any installment payments under this Agreement, including without limitation
any continuation salary payments that are payable on Company payroll dates, shall be treated as a right to receive a series of separate
payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment as permitted
under Section 409A. Except as otherwise permitted under Section 409A, no payment hereunder shall be accelerated or deferred unless such
acceleration or deferral would not result in additional tax or interest pursuant to Section 409A.


 


10.         
Executive Acknowledgement.


 


Executive acknowledges that Executive has read
and understands this Agreement, is fully aware of its legal effect, has not acted in reliance upon any representations or promises made
by the Company other than those contained in writing herein, and has entered into this Agreement freely based on Executive’s own
judgment.


 


[Signature Page Follows]


 






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IN WITNESS WHEREOF, the Parties have executed this
Agreement on the date and year first above written.


 


	 	IMMUNEERING CORPORATION




 


	 	By:	/s/ Benjamin Zeskind
	 	 	Name:
	 	 	Title:




 


	 	EXECUTIVE




 


	 	/s/ Scott Barrett, M.D.
	 	Scott Barrett, M.D.




 


[Signature Page to Employment Agreement]


 






    


     


    

 








EXHIBIT A


 


Separation Agreement and Release


 


This Separation Agreement and Release (“Agreement”)
is made by and between Scott Barrett, M.D. (“Executive”) and Immuneering Corporation (the “Company”)
(collectively referred to as the “Parties” or individually referred to as a “Party”). Capitalized terms used but
not defined in this Agreement shall have the meanings set forth in the Employment Agreement (as defined below).


 


WHEREAS, the Parties have previously entered
into that certain Employment Agreement, dated as of _____, 2021 (the “Employment Agreement”) and that certain Employee
Proprietary Information and Inventions Assignment Agreement, dated as of ________, 2021 (the “Restrictive Covenant Agreement”);
and


 


WHEREAS, in connection with Executive’s
termination of employment with the Company or a subsidiary or affiliate of the Company effective ________, 20__, the Parties wish to resolve
any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that Executive may have against the Company
and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to Executive’s
employment with or separation from the Company or its subsidiaries or affiliates but, for the avoidance of doubt, nothing herein will
be deemed to release any rights or remedies in connection with Executive’s ownership of vested equity securities of the Company,
vested benefits or Executive’s right to indemnification by the Company or any of its affiliates (collectively, the “Retained
Claims”).


 


NOW, THEREFORE, in consideration of the severance
payments and benefits described in Section 4 of the Employment Agreement, which, pursuant to the Employment Agreement, are conditioned
on Executive’s execution and non-revocation of this Agreement, and in consideration of the mutual promises made herein, the Company
and Executive hereby agree as follows:


 


1.             Severance
Payments and Benefits; Salary and Benefits. The Company agrees to provide Executive with the severance payments and benefits described
in Section [4(b)/4(c)] of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the
Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement,
the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of the Employment Agreement,
subject to and in accordance with the terms thereof.


 


2.             Release
of Claims. Executive agrees that, other than with respect to the Retained Claims, the foregoing consideration represents settlement
in full of all outstanding obligations owed to Executive by the Company, any of its direct or indirect subsidiaries and affiliates, and
any of its or their respective current and former officers, directors, equityholders, managers, employees, agents, investors, attorneys,
shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees, divisions, and subsidiaries and predecessor
and successor corporations and assigns (collectively, the “Releasees”). Executive, on Executive’s own behalf
and on behalf of any of Executive’s heirs, family members, executors, agents, and assigns, other than with respect to the Retained
Claims, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or
pursue, any claim, complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known
or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts, facts,
or damages that have occurred up until and including the date Executive signs this Agreement, including, without limitation:


 


(a)           any
and all claims relating to or arising from Executive’s employment or service relationship with the Company or any of its direct
or indirect subsidiaries or affiliates and the termination of that relationship;


  






    


     


    

 





(b)           any
and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of any shares of stock or other equity
interests of the Company or any of its affiliates, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary
duty, breach of duty under applicable state law, and securities fraud under any state or federal law;


 


(c)           any
and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation;
breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory
estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional
interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal
injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits;


 


(d)           any
and all claims for violation of any federal, state, or municipal statute, including, but not limited to, Title VII of the Civil Rights
Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay
Act; the Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers
Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the
Family and Medical Leave Act; and the Sarbanes-Oxley Act of 2002;


 


(e)           any
and all claims for violation of the federal or any state constitution;


 


(f)            any
and all claims arising out of any other laws and regulations relating to employment or employment discrimination;


 


(g)           any
claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the
proceeds received by Executive as a result of this Agreement;


 


(h)           any
and all claims arising out of the wage and hour and wage payments laws and regulations of the state or states in which Executive has provided
service to the Company or any of its affiliates; and


 


(i)            any
and all claims for attorneys’ fees and costs.


 


Executive agrees that the release set forth in this section shall be
and remain in effect in all respects as a complete general release as to the matters released. This release does not release claims that
cannot be released as a matter of law, including, but not limited to, Executive’s right to report possible violations of federal
law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of
the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions
of state or federal law or regulation and any right to receive an award for information provided thereunder, Executive’s right to
file a charge with or participate in a charge by the Equal Employment Opportunity Commission, or any other local, state, or federal administrative
body or government agency that is authorized to enforce or administer laws related to employment, against the Company for discrimination
(with the understanding that Executive’s release of claims herein bars Executive from recovering such monetary relief from the Company
or any Releasee for any alleged discriminatory treatment), claims for unemployment compensation or any state disability insurance benefits
pursuant to the terms of applicable state law, claims to continued participation in certain of the Company’s group benefit plans
pursuant to the terms and conditions of COBRA, claims to any benefit entitlements vested as the date of separation of Executive’s
employment pursuant to written terms of any employee benefit plan of the Company or its affiliates and Executive’s right under applicable
law, any Retained Claims and any claims under this Agreement.


 






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3.             Acknowledgment
of Waiver of Claims under ADEA. Executive understands and acknowledges that Executive is waiving and releasing any rights Executive
may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing
and voluntary. Executive understands and agrees that this waiver and release does not apply to any rights or claims that may arise under
the ADEA after the date Executive signs this Agreement. Executive understands and acknowledges that the consideration given for this waiver
and release is in addition to anything of value to which Executive was already entitled. Executive further understands and acknowledges
that Executive has been advised by this writing that: (a) Executive should consult with an attorney prior to executing this Agreement;
(b) Executive has 21 days within which to consider this Agreement, and the Parties agree that such time period to review this Agreement
shall not be extended upon any material or immaterial changes to this Agreement; (c) Executive has seven [business] days following Executive’s
execution of this Agreement to revoke this Agreement pursuant to written notice to the General Counsel of the Company; (d) this Agreement
shall not be effective until after the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Executive
from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition
precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement
and returns it to the Company in less than the 21 day period identified above, Executive hereby acknowledges that Executive has freely
and voluntarily chosen to waive the time period allotted for considering this Agreement.


 


4.             Restrictive
Covenants.


 


(a)           Executive’s
covenants under the Restrictive Covenant Agreement are hereby incorporated by reference into this Agreement. Executive acknowledges and
agrees that Executive’s obligations under the Restrictive Covenant Agreement shall remain in full force and effect following the
Separation Date in accordance with the terms thereof.


 


(b)           Executive
agrees that Executive shall not publicly disparage, criticize or defame the Company or its directors, officers, products, services, technology
or business. Nothing in this Section 5(b) will prohibit disclosure of information that is required to be disclosed to enforce the terms
of this Agreement or to comply with applicable law or order of a court or other regulatory body of competent jurisdiction.


 


(c)           The
Company shall direct the members of the Executive Committee and the Chief Executive Officer that they may not at any time publicly disparage
Executive or engage in any conduct that is injurious to Executive’s reputation and interests.


 






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(d)           Executive
represents and warrants that Executive has returned to the Company all files, memoranda, records and other documents, and any other physical
or personal property which are the property of the Company and which Executive had in Executive’s possession, custody or control.


 


6.             No
Oral Modification. This Agreement may only be amended in a writing signed by Executive and a duly authorized officer of the Company.


 


7.             Governing
Law; Dispute Resolution. This Agreement shall be subject to the provisions of Sections 9(a), 9(c), and 9(h) of the Employment Agreement.


 


8.             Effective
Date. Executive has seven days after Executive signs this Agreement to revoke it and this Agreement will become effective on the day
immediately following the seventh day after Executive signed this Agreement (the “Effective Date”).


 


9.             Voluntary Execution of Agreement. Executive understands
and agrees that Executive executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company
or any third party, with the full intent of releasing all of Executive’s claims against the Company and any of the other Releasees.
Executive acknowledges that: (a) Executive has read this Agreement; (b) Executive has not relied upon any representations or statements
made by the Company that are not specifically set forth in this Agreement; (c) Executive has been represented in the preparation, negotiation,
and execution of this Agreement by legal counsel of Executive’s own choice or has elected not to retain legal counsel; (d) Executive
understands the terms and consequences of this Agreement and of the releases it contains; and (e) Executive is fully aware of the legal
and binding effect of this Agreement.


 


[Signature Page Follows]


 






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IN WITNESS WHEREOF, the Parties have executed this
Agreement on the respective dates set forth below.


 


	 	EXECUTIVE




 


	Dated:	 	 	 
	 	 	 	Scott Barrett, M.D.




   


	 	IMMUNEERING CORPORATION




 


	Dated:	 	 	By:	 
	 	 	 	 	Name:
	 	 	 	 	Title:





 






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EXHIBIT B


 


Restrictive Covenant Agreement


 


[attached]