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Exhibit 10.1

FIRST AMENDMENT TO AMENDED AND 
RESTATED EMPLOYMENT AGREEMENT
This First Amendment to Amended and Restated Employment Agreement (this “Amendment”) is made effective as of August 1, 2020 (the “Amendment Effective Date”), by and between Axcella Health Inc., a Delaware corporation (the “Company”), and Manu Chakravarthy, M.D., Ph.D. (the “Executive”).  
WHEREAS, the Company and the Executive are parties to an Amended and Restated Employment Agreement dated as of December 29, 2018 (the “Employment Agreement”);
WHEREAS, the Company and the Executive wish to amend certain provisions of the Employment Agreement with respect to the Executive’s title, cash compensation and equity compensation opportunities; and
WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Employment Agreement.  
    NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties agree as follows:

1.Section 1(b) of the Employment Agreement is hereby amended by replacing “Senior Vice President of Clinical Development and Chief Medical Officer of the Company” with “Executive Vice President and Chief Medical Officer of the Company.”
2.Section 2(a) of the Employment Agreement is hereby amended by replacing “$374,000” with “$450,000.”
3.Section 2(b) of the Employment Agreement is hereby amended and restated in its entirety as follows:
“(b)    Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be 40 percent of his Base Salary (the “Target Bonus”). Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.  
The Executive shall be paid a one-time cash bonus of $300,000, less applicable deductions and withholdings (the “Special Bonus”), within 30 days of the Amendment Effective Date; provided, however, that if the Executive resigns his employment for any reason or is terminated by the Company for Cause, in either case prior to the six month anniversary of the Amendment Effective Date, he will be required to repay the full amount of the Special Bonus within 10 days following the Date of Termination.  

In addition, if the Company pays annual bonuses to the Company’s executive officers for the fiscal year ended December 31, 2020 and the Executive remains continuously employed by the Company through December 31, 2020, notwithstanding any requirement that the Executive be employed on the date such annual bonus is paid, the Executive shall be entitled to receive such annual bonus for the fiscal year ended December 31, 2020 when and if such bonus payments are made, which, if made, shall be no later than March 15, 2021, provided that when calculating any such bonus the Company shall consider a base salary of $418,045 which is the weighted average of your former base salary during 2/3 of 2020, and your new base salary pursuant to this Amendment during 1/3 of 2020.
4.Section 2(f) is hereby added to the Employment Agreement to state as follows:
        “(f)    RSU Grant.  Subject to approval by the Board, the Company will grant the Executive 60,000 restricted stock units of the Company on the Amendment Effective Date (the “RSU Grant”), which restricted stock units will vest in full on the six month anniversary of the Amendment Effective Date, subject to the Executive’s continuous employment with the Company through such date.  The RSU Grant will be subject to the terms of and contingent upon the Executive’s execution of a restricted stock unit agreement issued pursuant to the Company’s equity incentive plan.”
5.All other provisions of the Employment Agreement, including without limitation the Restrictive Covenants Agreement attached thereto as Exhibit A, shall remain in full force and effect according to their respective terms, and nothing contained herein shall be deemed a waiver of any right or abrogation of any obligation otherwise existing under the Employment Agreement except to the extent specifically provided for herein.

6.The validity, interpretation, construction and performance of this Amendment and the Employment Agreement, as amended herein, shall be governed by the laws of the Commonwealth of Massachusetts, without giving effect to the conflict of laws principles of such Commonwealth.  The parties hereby consent to the jurisdiction of the Superior Court of the Commonwealth of Massachusetts and the United States District Court for the District of Massachusetts.   
7.This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document. 
[Signature page follows]

    

IN WITNESS WHEREOF, the parties have executed this Amendment effective on the Amendment Effective Date.

AXCELLA HEALTH INC.

						
	By:	/s/ Andrew Suchoff
	Name:	Andrew Suchoff
	Title:	SVP, Chief People Officer

    
EXECUTIVE

						
	/s/ Manu Chakravarthy

	Manu Charvarthy, M.D., Ph.D.Document

Exhibit 10.2

FIRST AMENDMENT TO AMENDED AND 
RESTATED EMPLOYMENT AGREEMENT
This First Amendment to Amended and Restated Employment Agreement (this “Amendment”) is made effective as of September 16, 2020 (the “Amendment Effective Date”), by and between Axcella Health Inc., a Delaware corporation (the “Company”), and Paul Fehlner, J..D., Ph.D. (the “Executive”).

WHEREAS, the Company and the Executive are parties to an Amended and Restated Employment Agreement dated as of December 19, 2018 (the “Employment Agreement”);

WHEREAS, the Company and the Executive wish to amend certain provisions of the Employment Agreement with respect to the Executive’s title, cash compensation and equity compensation opportunities; and

WHEREAS, capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Employment Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1.The first sentence of Section 1(b) of the Employment Agreement is hereby amended by replacing “Chief Intellectual Property Officer of the Company” with “Chief Legal Officer and Corporate Secretary of the Company.” The second sentence of Section 1(b) of the Employment Agreement is hereby deleted and replaced with the following: “The Executive shall devote his full working time and efforts to the business and affairs of the Company.”

2.Section 2(a) of the Employment Agreement is hereby amended by deleting the first sentence and replacing it with: “During the Term, the Executive’s annual base salary shall be paid at the rate of $370,000 per year.”

3.Section 2(e) of the Employment Agreement is hereby amended by adding the following to the beginning of Section 2(e):

“Subject to final approval by the Board or the Compensation Committee (i) effective with the Amendment Effective Date, the Company shall grant Executive an option to purchase 30,000 shares of the Company’s Common Stock, subject to the terms of and contingent upon Executive’s execution of an equity award agreement issued pursuant to and under the terms of the Axcella Health Inc. 2010 Stock Plan, as amended (the “Stock Plan”), which shall vest 25% on the first anniversary of the Effective Date and thereafter the remaining 75% of the Units shall vest quarterly over three (3) years thereafter following such 1st anniversary, for so long as the Executive is employed by or otherwise providing services to the Company. 

The aforesaid shall be subject to the specific terms and conditions of the Stock Plan and the equity award agreement, and in the case of inconsistency between this Agreement and the Stock Plan, the provision in the Stock Plan shall govern; in the case of inconsistency between this Agreement and any equity award agreement, the provision in this Agreement shall govern unless waived in writing by the Executive.”

4.All other provisions of the Employment Agreement, including without limitation the Restrictive Covenants Agreement attached thereto as Exhibit A, shall remain in full force and effect according to their respective terms, and nothing contained herein shall be deemed a waiver of any right or abrogation of any obligation otherwise existing under the Employment Agreement except to the extent specifically provided for herein.

5.The validity, interpretation, construction and performance of this Amendment and the Employment Agreement, as amended herein, shall be governed by the laws of the Commonwealth of Massachusetts, without giving effect to the conflict of laws principles of such Commonwealth. The parties hereby consent to the jurisdiction of the Superior Court of the Commonwealth of Massachusetts and the United States District Court for the District of Massachusetts.

6.This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document.

IN WITNESS WHEREOF, the parties have executed this Amendment effective on the Amendment Effective Date.

AXCELLA HEALTH INC.

						
	By:	/s/ Andrew Suchoff
	Name:	Andrew Suchoff
	Title:	SVP, Chief People Officer

EXECUTIVE

						
	/s/ Paul Fehlner
	Paul Fehlner, J.D., Ph.D.Document

EXHIBIT 10.1

Summary of Non-Employee Director Compensation Program

Effective March 1, 2013, the board of directors (the “Board”) of IZEA Worldwide, Inc. implemented a compensation program that entitles each serving non-employee director to receive the following compensation:

•An annual board retainer fee of $25,000, payable in restricted stock by January 31st each calendar year, vesting in equal monthly installments from January through December for each month of service.

•A cash retainer fee of $20,000 per year, payable in regular intervals and on a pro-rated basis for their months of service as a director or upon mutual agreement payable in restricted stock.

•Reimbursement of actual and necessary travel and related expenses in connection with attending in-person Board meetings.

•A $1,000 per meeting fee for all meetings of the Board attended by the director, subject to a $6,000 annual cap.

•A $1,000 per Audit Committee meeting fee attended by a member of the Audit Committee, subject to a $4,000 annual cap.

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