Document:

EX-10.1

 Exhibit 10.1 
  

 
 

 
 January 23, 2015 

Clayton Fletcher 
 1468 Hilltop Road 

Chester Springs, PA 19425 
 Dear Clayton: 

On behalf of Idera Pharmaceuticals, Inc. (the “Company”), I am pleased to confirm the following terms of your employment with the Company. 

 

	1.	Employment. You will be employed to serve on a full time basis as the Company’s Senior Vice President of Business Development and Strategy, effective as of January 26, 2015 (the
“Commencement Date”). You will be responsible for performing such duties as are consistent with your position, plus such other duties as may from time to time be assigned to you by the Chief Executive Officer. You shall report solely to
the Chief Executive Officer. You agree to devote your full business time, best efforts, skill, knowledge, attention and energies to the advancement of the Company’s business and interests and to the performance of your duties and
responsibilities as an employee of the Company. 

  

	2.	Base Salary and Bonus.  

  

	 	(a)	Your annual base salary shall be $360,000 per year and shall be payable to you at periodic intervals in accordance with the Company’s payroll practices for salaried employees. Such base salary may be increased from
time to time in accordance with normal business practices and in the sole discretion of the Company. 

  

	 	(b)	You shall be eligible to receive, for each fiscal year of the Company ending during your employment with the Company, an annual bonus of up to 35% of your annual base salary, whether pursuant to a formal bonus or
incentive plan or program of the Company or otherwise. Such bonus, if any, will be approved by the Board of Directors or the Compensation Committee of the Board of Directors (together, the “Board”) in its sole discretion and will be based
on both individual and Company performance objectives as developed and determined by the Company in its sole discretion. Any bonus earned by you and approved by the Board under this Section 2(b) shall be paid to you no later than March 15th of the calendar year following the calendar year in which such bonus is earned and approved by the Board under this Section 2. 

 

	 	(c)	All salary, bonus and other compensation payable to you pursuant to this Agreement shall be subject to applicable withholding taxes. 

 Clayton Fletcher 

January 23, 2015 
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	3.	Benefit Programs. You may participate in any and all benefit programs that the Company may establish and make available to its employees from time to time, provided you are eligible under (and subject to
all provisions of) the plan documents governing those programs. Such benefits may include medical, dental and retirement plans. Any benefits made available by the Company, and the rules, terms and conditions for participation in such benefit plans,
may be changed by the Company at any time and from time to time without advance notice. 

  

	4.	Reimbursement of Expenses. The Company shall reimburse you, in accordance with the Company’s expense reimbursement policy, for all reasonable travel, entertainment and other expenses incurred or paid
by you in connection with, or related to, the performance of your duties, responsibilities or services under this Agreement, specifically including expenses for travel between offices of the Company, upon presentation by you of appropriate
documentation, expense statements, vouchers and/or such other supporting information as the Company may request and in accordance with Section 11(e) below. 

 

	5.	Equity. Upon the commencement of your employment with the Company, you received a non-statutory stock option award to purchase 600,000 shares of the Company’s common stock as an inducement grant
outside the Company’s 2013 Stock Incentive Plan at an exercise price equal to the fair market value of the Company’s common stock on the Commencement Date (the “Option”). The Option shall vest over four years with the first
installment vesting on the first anniversary of the Commencement Date and the balance of the shares vesting in equal quarterly installments over the remaining three years. The Option shall be evidenced by an option agreement that is consistent with
the form of option agreement generally used by the Company and the terms of this letter.  

  

	6.	Termination of Employment Period. Your employment by the Company pursuant to this Agreement shall terminate upon the occurrence of any of the following: 

 

	 	(a)	At the election of the Company, for Cause (as defined on Exhibit A), immediately upon written notice by the Company to you, which notice shall identify the Cause upon which the termination is based.

  

	 	(b)	At the election of either party, upon not less than fifteen days’ prior written notice of termination. 

  

	7.	Effect of Termination.  

  

	 	(a)	In the event your employment is terminated pursuant to Section 6(a) or 6(b), the Company shall pay to you the compensation and benefits otherwise payable you under Section 2 through the last day of your actual
employment by the Company. 

  

	 	(b)	 In the event that the Company terminates your employment with the Company at any time without Cause pursuant to Section 6(b), then, subject to
Section 7(e) the Company shall also (i) continue to pay you your then current base salary for a 

 Clayton Fletcher 

January 23, 2015 
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period of twelve (12) months, payable in accordance with and at the times contemplated by the Company’s then current payroll practices and (ii) pay you any bonus earned by you and
approved by the Board prior to such termination that is then unpaid. 

  

	 	(c)	Notwithstanding Section 7(b) above, and in lieu of any payment owed under Section 7(b), if any, in the event that the Company terminates you without Cause or you resign from employment with the Company for
Good Reason upon a Change in Control (as such terms are defined below) or within the twelve (12) month period following the Change in Control, then, subject to Section 7(e), (i) the Company shall continue to pay you your then current
base salary for a period of twelve (12) months, payable in accordance with and at the times contemplated by the Company’s then current payroll practices, (ii) the Company shall pay you any bonus earned by you and approved by the Board
prior to such termination or resignation that is then unpaid and (iii) the Options shall vest in full and become immediately exercisable. 

  

	 	(d)	Following a termination of your employment entitling you to severance payments under Section 7(b) or Section 7(c), and subject to Section 7(e), if you are eligible for and elect to continue receiving
group medical and/or dental insurance under the continuation coverage rules known as COBRA, the Company will 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 (single, family, or other) until the earlier of (i) the end of the period for which the Company is paying you your then current base salary pursuant to Section 7(b) or Section 7(c) above (as applicable, the “Severance
Period”) or (ii) the date your COBRA continuation coverage expires. 

  

	 	(e)	Notwithstanding anything in this Section 7 to the contrary, the Company’s obligations to make severance payments and provide benefits to you pursuant to this Section 7 shall be contingent upon your
execution of a separation and release agreement (the “Release Agreement”) in a form reasonably acceptable to the Company which Release Agreement must become irrevocable within 60 days (or such earlier date as the Release Agreement
provides) following the date of your termination of employment. Such payments and benefits shall begin to be paid or provided in the first regular payroll period beginning after the Release Agreement becomes binding on you; provided, however, that
if the 60th day after termination occurs in the calendar year following the year of your date of termination, the severance payments and benefits shall be paid or provided no earlier than
January 1 of such subsequent calendar year (whether or not the Release Agreement is executed prior to such date). You must continue to comply with the Invention, Non-Disclosure and Non-Competition Agreement referenced in Section 8 to
continue to receive severance payments and benefits. The severance payments and benefits shall constitute your sole remedy in connection with the termination of your employment in the event of a termination of your employment by the Company without
Cause or by you for Good Reason. 

 Clayton Fletcher 

January 23, 2015 
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	8.	Invention, Non-Disclosure and Non-Competition Agreement. As a condition to your employment, you will be required to execute an Invention, Non-Disclosure and Non-Competition Agreement with the Company.

  

	9.	Company Policies and Procedures. As an employee of the Company, you will be required to comply with all Company policies and procedures. Violations of the Company’s policies may lead to immediate
termination of your employment. Further, the Company’s premises, including all workspaces, furniture, documents and other tangible materials, and all information technology resources of the Company (including computers, data and other
electronic files, and all internet and e-mail) are subject to oversight and inspection by the Company at any time. Company employees should have no expectation of privacy with regard to any Company premises, materials, resources or information.

  

	10.	Other Agreements and Governing Law. You represent that you are not bound by any employment contract, restrictive covenant or other restriction preventing you from continuing in employment with or carrying
out your responsibilities for the Company, or which is in any way inconsistent with the terms of this Agreement. Please note that this Agreement supersedes any and all prior or contemporaneous agreements, discussions and/or understandings, whether
written or oral, relating to the subject matter of this Agreement or your employment with the Company. The resolution of any disputes under this Agreement will be governed by Massachusetts law. 

 

	11.	Compliance with Section 409A. Subject to the provisions in this Section 11, any severance payments or benefits under this Agreement (including under Section 7 hereof) shall begin only upon
the date of your “separation from service” (determined as set forth below) which occurs on or after the date of termination of your employment. The following rules shall apply with respect to distribution of the payments and benefits, if
any, to be provided to you under this Agreement: 

  

	 	(a)	It is intended that each installment of the severance payments and benefits provided under this Agreement shall be treated as a separate “payment” for purposes of Section 409A. Neither the Company nor you
shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A. 

 

	 	(b)	If, as of the date of your “separation from service” from the Company, you are not a “specified employee” (within the meaning of Section 409A), then each installment of the severance payments
and benefits shall be made on the dates and terms set forth in this Agreement. 

 Clayton Fletcher 

January 23, 2015 
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	 	(c)	If, as of the date of your “separation from service” from the Company, you are a “specified employee” (within the meaning of Section 409A), then: 

 

	 	(i)	Each installment of the severance payments and benefits due under this Agreement that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service
occurs, be paid within the Short-Term Deferral Period (as hereinafter defined) shall be treated as a short-term deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A.
For purposes of this Agreement, the “Short-Term Deferral Period” means the period ending on the later of the fifteenth day of the third month following the end of your tax year in which the separation from service occurs and the fifteenth
day of the third month following the end of the Company’s tax year in which the separation from service occurs; and 

  

	 	(ii)	Each installment of the severance payments and benefits due under this Agreement that is not described in Section 11(c)(i) above and that would, absent this subsection, be paid within the six-month period following
your “separation from service” from the Company shall not be paid until the date that is six months and one day after such separation from service (or, if earlier, your death), with any such installments that are required to be delayed
being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following your separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set
forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of severance payments and benefits if and to the maximum extent that such installment is deemed to be paid under a
separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from service). Any installments that
qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of your second taxable year following your taxable year in which the separation from service occurs. 

 

	 	(d)	The determination of whether and when your separation from service from the Company has occurred shall be made in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation
Section 1.409A-1(h). Solely for purposes of this Section 11(d), “Company” shall include all persons with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the Code. 

 Clayton Fletcher 

January 23, 2015 
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	 	(e)	All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are
subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred during your lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of
expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar
year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or liquidation or exchange for any other benefit. 

 

	 	(f)	Notwithstanding anything herein to the contrary, the Company shall have no liability to you or to any other person if the payments and benefits provided hereunder that are intended to be exempt from or compliant with
Section 409A are not so exempt or compliant. 

  

	12.	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which or into which the
Company may be merged or which may succeed to its assets or business; provided, however, that your obligations to the Company are personal and shall not be assigned by you. 

 

	13.	Acknowledgment. You state and represent that you have had an opportunity to fully discuss and review the terms of this Agreement with an attorney. You further state and represent that you have carefully
read this Agreement, understand the contents herein, freely and voluntarily assent to all of the terms and conditions hereof, and sign your name of your own free act. 

 

	14.	Miscellaneous. 

  

	 	(a)	No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on any one occasion shall be effective only
in that instance and shall not be construed as a bar to or waiver of any right on any other occasion. 

  

	 	(b)	The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 

 

	 	(c)	In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

 Clayton Fletcher 

January 23, 2015 
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 If this Agreement correctly sets forth the initial terms under which you will be employed by the Company,
please sign the enclosed duplicate of this Agreement in the space provided below, along with the enclosed Invention, Non-Disclosure and Non-Competition Agreement, and return them to me. 

 

			
	Very truly yours,
		
	By:		 /s/ Vincent J. Milano

	Name:		Vincent J. Milano
	Title:		Chief Executive Officer

 The foregoing correctly sets forth the terms of my employment with Idera Pharmaceuticals, Inc. I am not relying on any
representations other than as set forth above. 
  

							
	 /s/ Clayton Fletcher
				Date:		 January 23, 2015

	Clayton Fletcher						

 EXHIBIT A 

Definitions 
 The following terms
shall have the following definitions for purposes of this Agreement: 
  

	(a)	Cause shall mean (i) a material breach of any material term of this Agreement, (ii) a plea of guilty or nolo contendere to, or conviction of, a felony offense, (iii) repeated unexplained or
unjustified absence, or refusals to carry out the lawful directions of the Board or (iv) material breach of a fiduciary duty owed to the Company under this Agreement, provided that any action or inaction described by (i), (iii) or (iv),
above, shall not be the basis of a termination of your employment with the Company for “Cause” unless the Company provided you with at least 20 days advance written notice specifying in reasonable detail the conduct in need of being cured
and such conduct was not cured within the notice period or prior to termination. 

  

	(b)	Change in Control shall mean the occurrence of any of the following events: (i) a change in the composition of the Board over a period of thirty-six consecutive months or less such that a majority of the
members of the Board ceases to be comprised of individuals who are Continuing Members; for such purpose, a “Continuing Member” shall mean an individual who is a member of the Board on the date of this Agreement and any successor of a
Continuing Member who is elected to the Board or nominated for election by action of a majority of Continuing Members then serving on the Board; (ii) any merger or consolidation that results in the voting securities of the Company outstanding
immediately prior thereto representing (either by remaining outstanding or by being converted into voting securities of the surviving or acquiring entity) less than 60% of the combined voting power of the voting securities of the Company or such
surviving or acquiring entity outstanding immediately after such merger or consolidation; (iii) any sale of all or substantially all of the assets of the Company; (iv) the complete liquidation or dissolution of the Company; or (v) the
acquisition of “beneficial ownership” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities (other than
through a merger or consolidation or an acquisition of securities directly from the Company) by any “person,” as such term is used in Sections 13(d) and 14(d) of the Exchange Act, other than the Company, any trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportion as their ownership of stock of the Company; provided however
that, where applied to compensation subject to Section 409A of the Internal Revenue Code and the guidance issued thereunder (“Section 409A”), any acceleration of or change in payment shall only apply (if required by Section 409A)
if the Change in Control is also a change in control event described in Treasury Regulation 1.409A-3(i)(5). 

  
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	(c)	Good Reason shall mean any action on the part of the Company not consented to by you in writing having the following effect or effects: (i) a material reduction in your base salary; (ii) a material
diminution in your duties, responsibilities or authority as set forth in Section 1 of this Agreement, (iii) the Company requires you to permanently relocate and work full-time from its Cambridge, Massachusetts location (or such other
location not located in the Philadelphia, Pennsylvania area that is more than 50 miles from the location you are then performing your ongoing and regular services) or (iv) the Company relocates it headquarters to a location that makes it
unreasonable for you to commute to the Company’s headquarters two business days per week. You must (A) give notice to the Company of your intention to resign for Good Reason within 90 days after the occurrence of the event (or series of
events) that you assert entitle you to resign for Good Reason, (B) state in that notice the condition that you consider to provide you with Good Reason to resign, (C) provide the Company with at least 30 days after you deliver your notice
to cure the condition and (D) if the condition is not cured, resign for Good Reason on or prior to the 60th day after you deliver your notice. 

  
 2EX-10.2

 Exhibit 10.2 

CONSULTING AGREEMENT 

THIS CONSULTING AGREEMENT (the “Agreement”), made the 30th day of January, 2015
(“Effective Date”), is entered into by Idera Pharmaceuticals, Inc., a Delaware corporation with its principal place of business at 167 Sidney Street, Cambridge, MA 02139 (the “Company”), and Robert D. Arbeit M.D., an individual
having a place of residence located at 24 Oldham Road West Newton, MA 02465 (the “Consultant”). Company and Consultant may be referred to herein individually as a “Party” and collectively as the “Parties.” 

INTRODUCTION 
 The Company
desires to retain the services of the Consultant and the Consultant desires to perform certain Services, as defined below, for the Company. 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 by the Parties, the Parties agree as follows: 
 1.
Services. The Consultant agrees to perform such consulting, advisory, and related services to and for the Company as may be reasonably requested from time to time by the Company (“Service”). Such Services shall be performed at such
location, on such days, and at such times as may be reasonably agreed by the Company and the Consultant. 
 2. Term. This Agreement
shall commence on the Effective Date and shall continue until July 31, 2015 (such period being referred to as the “Consultation Period”), unless sooner terminated in accordance with the provisions of Section 4. 

3. Compensation. 
 3.1
Consulting Fees. During the Consultation Period, the Consultant shall be entitled to receive one hundred seventy five Dollars ($175) per hour, not to exceed one thousand four hundred Dollars ($1,400) per day and fourteen thousand Dollars
($14,000) per month, of Service actually performed by the Consultant hereunder. 
 For services performed and billable under this Section 3.1, the
Consultant shall submit to the Company monthly statements, in a form substantially the same as that shown in Exhibit A, detailing Services performed for the Company in the previous month. The Company shall pay to the Consultant consulting fees with
respect to all Services actually performed and invoiced within 30 days after Company’s receipt of each monthly invoice. 
 3.2
Reimbursement of Expenses. The Company shall reimburse the Consultant for all reasonable and necessary expenses incurred or paid by the Consultant in connection with, or related to, the performance of his Services under this Agreement and in
accordance with Idera Policy No. 217, which has been previously provided to Consultant and which Consultant acknowledges as having been received. The Consultant shall submit to the Company itemized monthly statements, in a form satisfactory to
the Company, of such expenses incurred in the previous month. The Company shall pay to the Consultant amounts shown on each such statement within 30 days after Company’s receipt thereof. Notwithstanding the foregoing, the Consultant shall not
incur total expenses in excess of $ 1,000 per month without the prior written approval of the Company. 
 3.3 Benefits. The
Consultant shall not be entitled to any benefits, coverages or privileges made available to employees of the Company, including, without limitation, social security, unemployment, medical or pension payments. 

  
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 4. Termination. Each of the Company and the Consultant may terminate the Consultation
Period upon 30 days’ prior written notice to the other Party. In the event of such termination, the Consultant shall be entitled to payment for Services performed and expenses paid or incurred prior to the effective date of termination, subject
to the limitation on reimbursement of expenses set forth in Section 3.2. Notwithstanding the foregoing, the Company may terminate the Consultation Period, effective immediately upon receipt of written notice, if the Consultant breaches or
threatens to breach any provision of Section 6 of this Agreement. 
 5. Cooperation. The Consultant shall use his best efforts
in the performance of his obligations under this Agreement. The Company shall provide such access to its information and property as may be reasonably required in order to permit the Consultant to perform his obligations hereunder. The Consultant
shall cooperate with the Company’s personnel, shall not interfere with the conduct of the Company’s business, and shall observe all rules, regulations, and security requirements of the Company concerning the safety of persons and property.

 6. Inventions, Non-Disclosure, Non-Competition, and Remedies. 

6.1 Inventions. 
 (a)
All inventions, discoveries, computer programs, data, technology, designs, innovations and improvements (whether or not patentable and whether or not copyrightable) which are made, conceived, reduced to practice, created, written, designed or
developed by the Consultant, solely or jointly with others and whether during normal business hours or otherwise, (i) during the Consultation Period if directly related to the business of the Company or (ii) after the Consultation Period
if resulting or directly derived from Proprietary Information (as defined below) (collectively referred to as “Inventions”), shall be the sole property of the Company. The Consultant hereby assigns to the Company all Inventions and any and
all related patents, copyrights, trademarks, trade names, and other industrial and intellectual property rights and applications therefor, in the United States and elsewhere and appoints any officer of the Company as his duly authorized agent to
execute, file, prosecute, and protect the same before any government agency, court or authority. Upon the request of the Company and at the Company’s expense, the Consultant shall execute such further assignments, documents, and other
instruments as may be necessary or desirable to fully and completely assign all Inventions to the Company and to assist the Company in applying for, obtaining, and enforcing patents or copyrights or other rights in the United States and in any
foreign country with respect to any Invention. The Consultant also hereby waives all claims to moral rights in any Inventions. 
 (b) The
Consultant shall promptly disclose to the Company all Inventions and will maintain adequate and current written records (in the form of notes, sketches, 

  
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drawings, and as may be specified by the Company) to document the conception and/or first actual reduction to practice of any Invention. Such written records shall be available to and remain the
sole property of the Company at all times. 
 6.2 Non-Disclosure. 

(a) The Consultant acknowledges that his relationship with the Company is one of high trust and confidence and that in the course of his
service to the Company he will have access to and contact with materials and information, whether or not in writing, of a private, secret or confidential nature concerning Idera’s technology, business or financial affairs (collectively,
“Confidential information). The Consultant agrees that Confidential Information shall be the exclusive property of the Company. The Consultant further agrees that he will not disclose any Confidential Information to others outside Idera or use
the same for any purposes (other than in the performance of the Services) without the prior written approval of the Company, unless and until such Confidential Information has become public knowledge without fault of the Consultant. 

(b) The Consultant agrees that all tangible materials, either in paper form or electronic form, containing Confidential Information or copies
thereof and all tangible property of the Company in his custody or possession shall be delivered to Idera upon the earlier of (i) a request by the Company, (ii) termination of the Agreement, or (iii) expiration of this Agreement.
After such delivery, Consultant shall not retain any such materials or copies thereof or any such tangible property. 
 (c) The Consultant
agrees that his obligation not to disclose or to use information and materials of the types set forth in paragraph 6.2(a), and his obligation to return materials and tangible property set forth in paragraph 6.2(b) above, also extends to such types
of information, materials and tangible property of customers of the Company or suppliers to the Company or other third parties who may have disclosed or entrusted the same to the Company or to him in the course of the Company’s business. 

6.3 Non-Competition. 

(a) The Consultant represents that his retention as a consultant with the Company and his performance under this Agreement does not, and
shall not, breach any agreement that obligates him to keep in confidence any trade secrets or confidential or proprietary information of him or of any other party or to refrain from competing, directly or indirectly, with the business of any other
party. The Consultant shall not disclose to the Company any trade secrets or confidential or proprietary information of any other party. 

(b) During the Consultation Period and for a period of one (1) year following the date of termination or expiration thereof, Consultant
will not directly or indirectly: 
  

	 	i.	 As an individual proprietor, partner, stockholder, officer, employee, director, joint venturer, investor, lender or in any other capacity whatsoever
(other than as the holder of not more than one 

  
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percent (1%) of the total outstanding stock of a publicly held company), engage in developing, producing, performing, marketing or selling oligonucleotide-based products, processes or
services for or on behalf of any entity whose principal business is creating or developing oligonucleotide-based products or therapeutics that compete or could compete with those of the Company; or 

 

	 	ii.	Recruit, solicit or induce, or attempt to induce, any employee, agent, consultant or contractor of the Company to terminate his, her or its employment with, or otherwise cease his, her or its relationship with, the
Company; or 

  

	 	iii.	Solicit, divert or take away, or attempt to divert or to take away, the business or patronage of any of the clients, customers or accounts, or prospective clients, customers or accounts, of the Company that are
contacted, solicited or served by Consultant while employed by or engaged as a consultant to the Company. 

 6.4 United
States Government Obligations. The Consultant acknowledges that the Company from time to time may have agreements with other persons or with the United States Government, or agencies thereof, that impose obligations or restrictions on the
Company regarding inventions made during the course of work under such agreements or regarding the confidential nature of such work. The Consultant agrees to be bound by all such obligations and restrictions that are known to him and to take all
action necessary to discharge the obligations of the Company under such agreements. 
 6.5 Remedies. The Consultant acknowledges that
any breach of the provisions of this Section 6 may cause immediate, substantial, and irreparable harm to Company, for which monetary damages may not be a sufficient remedy. In the event of a breach of this Agreement, in addition to any other
remedy it may have, the Company shall be entitled to seek specific performance of this Agreement by the Consultant and to seek injunctive relief in any court of competent jurisdiction. 

7. Independent Contractor Status. The Consultant shall perform all Services under this Agreement as an “independent
contractor” and not as an employee or agent of the Company. The Consultant is not authorized to assume or create any obligation or responsibility, express or implied, on behalf of, or in the name of, the Company or to bind the Company in any
manner. 
 8. Notices. All notices required or permitted under this Agreement shall be in writing and shall be deemed effective upon
personal delivery or upon deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other Party at the address shown above, or at such other address or addresses as either Party shall designate to
the other in accordance with this Section 8. 

  
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 9. Pronouns. Whenever the context may require, any pronouns used in this Agreement shall
include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice versa. 

10. Entire Agreement. This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and
understandings, whether written or oral, relating to the subject matter of this Agreement. 
 11. Amendment. This Agreement may be
amended or modified only by a written instrument executed by both the Company and the Consultant. 
 12. Governing Law. This
Agreement shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Massachusetts. 
 13.
Successors and Assigns. This Agreement shall be binding upon, and inure to the benefit of, both Parties and their respective successors and assigns, including any corporation with which, or into which, the Company may be merged or which may
succeed to its assets or business, provided, however, that the obligations of the Consultant are personal and shall not be assigned by him. 

14. Miscellaneous. 
 14.1
No delay or omission by the Company or Consultant in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company or Consultant on any one occasion shall be effective only
in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 
 14.2 The captions of the sections of
this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 

14.3 In the event that any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and
enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 **************** 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date. 

 

									
	IDERA PHARMACEUTICALS, INC.				CONSULTANT
					
	By:		 /s/ Louis Arcudi
				By:		 /s/ Robert D. Arbeit

	Louis Arcudi, III				Robert D. Arbeit M.D.
	Chief Financial Officer						
	Date: January 30, 2015				Date: January 30, 2015

  
 6 

 Exhibit A 

Sample Invoice/Report 

Name 
 Date:
                     
 Attn: Accounts Payable 

Idera Pharmaceuticals, Inc. 
 167 Sidney Street 

Cambridge, MA 02139 
 Fax: 617-679-5560 

Dear                     , 

In accordance with my Consulting Services Agreement with Idera, dated 1 December 2012, the following summarizes services performed for the invoice period
of                      to                     :

  

					
	 Date(s):
	  	 Description of Activity:
	  	 Time:

		  		  	         hr(s).
		  		  	         hr(s).

 In accordance with the Consulting Services Agreement, please remit the payment of
         within 30 days. 
 Regards, 

Names 
  

 
 Idera Approval 

 

			
	Idera Manager:             	  	Date:                    
	Total Amount Approved: $

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