Document:

vygr_ Ex10_2

		
			Exhibit 10.2 
		

		
			 
		

		
			AMENDED AND RESTATED EMPLOYMENT AGREEMENT
		

		
			 
		

		
			This Amended and Restated Employment Agreement (this “Agreement”) is made as of May 20, 2019 (the “Effective Date”) by and between Voyager Therapeutics, Inc. (the “Company”) and Omar Khwaja, MD, PhD, (the “Executive”).  
		

			
	
			
				 1.
			Employment.  

		
			General.  The Company and the Executive desire that the Executive be employed as the Company’s Chief Medical Officer and Head of Research & Development. The employment relationship between the Company and the Executive shall be governed by this Agreement commencing as of the Effective Date and continuing in effect until terminated by either party in accordance with this Agreement.  The Executive’s first day of employment (the “Commencement Date”) shall be on a day to be mutually agreed upon by the Company and Executive, but shall not be later than May 20, 2019.  At all times, the Executive’s employment with the Company will be “at-will,” meaning that the Executive’s employment may be terminated by the Company or the Executive at any time and for any reason, subject to the terms of this Agreement. 
		

		
			Condition of Employment Following October 31, 2019.  The Executive’s continued employment with the Company following October 31, 2019 is conditioned on his being eligible to work in the United States commencing no later than November 1, 2019. The Executive shall provide to the Company, within three days of commencing work in the United States, documentation of his eligibility to work in the United States, as required by the Immigration Reform and Control Act of 1986.  If the Executive needs to obtain a work visa in order to be eligible to work in the United States, his employment with the Company is conditioned upon his obtaining a work visa prior to November 1, 2019. 
		

			
	
			
				 2.
			Position, Reporting and Duties.  The Executive will serve as the Chief Medical Officer and Head of Research & Development of the Company, reporting to the Company’s President and Chief Executive Officer (“CEO”), and will serve as and be considered a “C-Level” executive officer, exercising the traditional power and duties of such office in companies of similar size to the Company and carrying out such additional executive level duties as may be reasonably assigned by the CEO.  The Executive shall devote the Executive’s full working time and efforts to the business and affairs of the Company and shall not engage in any other business activities without the prior written approval of the CEO and provided that such activities do not create a conflict of interest or otherwise interfere with the Executive’s performance of the Executive’s duties to the Company.  Beginning on the Commencement Date, and through no later than October 31, 2019, the Executive will be permitted to work remotely from Switzerland.  Beginning no later than November 1, 2019, the Executive’s normal place of work will be Cambridge, MA.  It is understood and agreed that, as soon as he is eligible to work in the United States (but in no event later than November 1, 2019), the Executive will generally be on site in Cambridge, unless the Executive is traveling on behalf of the Company, or while traveling in the initial transition period during family relocation from Basel.      

			
	
			
				 3.
			Compensation and Related Matters.

			
	
			
				 (a)
			Base Salary.  The Executive’s annual base salary is $440,000, which is subject to review and redetermination by the Company from time to time.  The annual base salary in effect at any given time is referred to herein as “Base Salary.”  The Base Salary will be payable in a manner that is consistent with the Company’s usual payroll practices for senior executives.  The Executive shall be eligible to participate in the Company’s annual salary review for the 2020 fiscal year, and in the annual salary review in each subsequent year thereafter.   

			
	
			
				 (b)
			Bonus.  The Executive is eligible to participate in the Company’s Senior Executive Cash Incentive Bonus Plan, as approved by the Company’s Board of Directors, its Compensation Committee or any other committee of the Board (collectively, the “Board”) (the “Incentive Bonus Plan”).  The terms of the Incentive Bonus Plan shall be established and may be altered by the Board in its sole discretion.  For calendar year 2019, the Executive's target bonus under the Incentive Bonus Plan shall be 40% of the Executive's Base Salary.  Any bonus paid for 2019 will be pro-

		 

	rated based on the Executive’s Commencement Date.  To earn any bonus, the Executive must be employed by the Company on the day such bonus is paid, except as provided to the contrary in either Section 6 or 7 below, because such bonus serves as an incentive for the Executive to remain employed with the Company.  Both parties acknowledge and agree that any bonus is not intended and shall not be deemed a “wage” under any state or federal wage-hour law.

			
	
			
				 (c)
			Equity.  Subject to approval by the Company’s Compensation Committee and a majority of the Company’s Independent Directors as defined in Nasdaq Listing Rule 5605(a)(2), and as a material inducement to the Executive entering into employment with the Company, the Executive will be granted on the Commencement Date (the “Grant Date”) a one-time equity award outside of the Company’s stock incentive plans as an “inducement grant” within the meaning of Nasdaq Listing Rule 5635(c)(4), consisting of an Option Award and an RSU Award (each as defined below):  

			
	
			
				 1.
			The Executive will be granted a non-qualified option (the “Option Award”) to purchase 170,000 shares of the Company’s common stock (the “Common Stock”).  The shares underlying the Option Award (the “Option Shares”) will have an exercise price per share equal to the closing price of the Common Stock on The Nasdaq Global Select Market on the Grant Date.  The Option Shares will vest and become exercisable, subject to the Executive’s continued service on each applicable vesting date, as follows:  25% of the Option Shares will vest on the first anniversary of the Grant Date, and an additional 2.0833% of the Option Shares will vest on a monthly basis at the end of each one-month period following the one-year anniversary of the Grant Date until the four-year anniversary of the Grant Date.  

		
			The Executive will also be granted 30,000 restricted stock units (the “RSU Award”). The RSU Award will vest and become settleable, subject to the Executive’s continued service on each applicable vesting date, over a three-year period as follows:  33.333% of the shares underlying the RSU Award will vest on the first anniversary of the Grant Date; an additional 33.333% of the shares underlying the RSU Award will vest on the two-year anniversary of the Grant Date; and the remaining shares underlying the RSU Award will vest on the three-year anniversary of the Grant Date.  
		

		
			Each of the Option Award and the RSU Award will be subject to and governed by the terms and conditions of the applicable equity award agreements between the Executive and the Company.  
		

			
	
			
				 (d)
			Employee Benefits.  The Executive shall be entitled to full participation in the Company’s flexible vacation plan each calendar year and to such other holidays as the Company recognizes for employees having comparable responsibilities and duties.  The Executive will be entitled to participate in the Company’s employee benefit plans, subject to the terms and the conditions of such plans, and the Company’s ability to amend and modify such plans at any time and from time to time without advance notice.   

			
	
			
				 (e)
			Reimbursement of Business Expenses.  The Company shall reimburse the Executive for travel, entertainment, business development and other expenses reasonably and necessarily incurred by the Executive in connection with the Company’s business.  Expense reimbursement shall be subject to such policies that the Company may adopt from time to time, including with respect to pre-approval.

			
	
			
				 (f)
			Relocation.  In connection with the Executive’s employment with the Company, the Executive will be required to relocate to the Greater Boston, Massachusetts area and establish his principal residence there on or before November 1, 2019.  In order to assist with this process and in further consideration of the non-competition provision of the Confidentiality, Non-Solicitation, Non-Competition and Invention Assignment Agreement (the “Confidentiality Agreement”), the Company will reimburse the Executive for gross expenses up to $200,000 for reasonable expenses incurred by the Executive in such relocation (including moving expenses, costs related to the packing, moving, and unpacking of household goods and personal effects, travel expenses, and temporary housing expenses) (the “Relocation Expenses”), so long as such Relocation Expenses are incurred no later than the one-year anniversary of the Effective Date.    The Relocation Expenses will be reimbursed in accordance with Company policy, but no later than sixty (60) days following the incurring of the expense, provided that the Executive delivers to the Company reasonable substantiation and documentation of the Relocation Expenses (and provided further, for the avoidance of doubt, that in no event will any reimbursement be made prior to the Commencement Date).  All such reimbursements are taxable to the Executive, and the reimbursement shall be reduced by applicable withholdings required by law.  For the avoidance of doubt, the Executive acknowledges and agrees that relocation is a material term 

		 

	of this Agreement.  If the Executive does not commence employment as the Company’s Chief Medical Officer and Head of Research & Development on the Commencement Date, or if prior to the one-year anniversary of the Commencement Date, the Company terminates the Executive’s employment for Cause (as defined below) or the Executive resigns without Good Reason (as defined below), the Executive will not be eligible for reimbursement of any unpaid Relocation Expenses and will be obligated to repay to the Company, within thirty (30) days following the Executive’s separation, all Relocation Expenses received by the Executive prior to the Executive’s last day of employment.  

			
	
			
				 (g)
			Signing Bonus.   In further consideration of the non-competition provision of the Confidentiality Agreement, the Executive will receive a one-time signing bonus of $100,000, less all applicable taxes and withholdings (the “Signing Bonus”); provided, however, that payment of such Signing Bonus is conditioned on the Executive using his best efforts, as quickly as is reasonably practicable, to prepare, collect and submit to immigration counsel retained by the Company all documents and materials that such counsel may request in connection with efforts to obtain authorization for the Executive to work in the United States. If Executive has satisfied this condition, as determined by the Company in its reasonable discretion, the Signing Bonus shall be payable in the Company’s first regular payroll cycle following such determination.  If, prior to the first anniversary of the Commencement Date, the Company terminates the Executive’s employment for Cause (as defined below) or the Executive resigns his employment without Good Reason (as defined below), the Executive will be obligated to repay the entire Signing Bonus within thirty (30) days following his separation from employment.

			
	
			
				 (h)
			Work Authorization and Immigration Support.  The Company will fully support the cost of Executive’s work authorization visa and subsequent permanent residency application.   Support will include legal expenses, filing fees and administrative support, and any required travel, and will cover the Executive, and the Executive’s spouse and children.

			
	
			
				 3.
			Certain Definitions.

			
	
			
				 (a)
			“Cause” means (A) the commission by the Executive of (i) any felony; or (ii) a misdemeanor involving moral turpitude, deceit, dishonesty or fraud, (B) a good faith finding by the Company of: (i) conduct by the Executive constituting a material act of misconduct in connection with the performance of the Executive’s duties, including, without limitation, misappropriation of funds or property of the Company or any of its subsidiaries or affiliates other than the occasional, customary and de minimis use of Company property for personal purposes; (ii) any conduct by the Executive that would reasonably be expected to result in material injury or reputational harm to the Company or any of its subsidiaries and affiliates if the Executive were retained in the Executive’s position but, provided that the Company reasonably determines that such conduct is capable of being cured, only after receipt of written notice by the Company reasonably describing such conduct and if the Executive fails to cease and cure such conduct within fifteen (15) days of receipt of said written notice; (iii) continued non-performance by the Executive of the Executive’s responsibilities hereunder (other than by reason of the Executive’s physical or mental illness, incapacity or disability) but, provided that the Company reasonably determines that such conduct is capable of being cured, only after receipt of written notice by the Company reasonably describing such non-performance and the Executive’s failure to cure such non-performance within fifteen (15) days of receipt of said written notice; (iv) a breach by the Executive of any confidentiality or restrictive covenant obligations to the Company, including under the Confidentiality, Non-Competition and Assignment Agreement (the “Confidentiality Agreement”); (v) a material violation by the Executive of any of the Company’s written employment policies communicated to the Executive; or (vi) failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities as provided under Section 13 of this Agreement, after being instructed by the Company to cooperate, or the willful destruction or failure to preserve documents or other materials known to be relevant to such investigation or the inducement of others to fail to cooperate or to produce documents or other materials in connection with such investigation, or (C) the Executive’s failure to (i) obtain a visa authorizing him to work in the United States beginning no later than November 1, 2019, and/or (ii) relocate to the Greater Boston, Massachusetts area and establish his principal residence there on or before November 1, 2019. 

			
	
			
				 (b)
			“Disabled” means the Executive is unable to perform the essential functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation for a period of 180 days (which days need not be consecutive) in any twelve (12) month period.  If any question shall arise as to whether 

		 

	during any period the Executive is disabled so as to be unable to perform the essential functions of the Executive’s then existing position or positions with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification in reasonable detail by a physician selected by the Company to whom the Executive or the Executive’s guardian has no reasonable objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for the purposes of this Agreement be conclusive of the issue.  The Executive shall cooperate with any reasonable request of the physician in connection with such certification.  If such question shall arise and the Executive shall fail to submit such certification, the Company’s determination of such issue shall be binding on the Executive.  Nothing in this Section 4(b) shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq., and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq.

			
	
			
				 (c)
			“Good Reason” means that the Executive has complied with the “Good Reason Process” (hereinafter defined) following the occurrence of any of the following events without the Executive’s consent: (A) a material diminution in the Executive’s responsibilities, authority or duties; (B) a material diminution in the Executive’s Base Salary except for a reduction of the Executive’s Base Salary that is part of an across-the-board salary reduction applied to substantially all senior management employees that is caused by  the Company’s financial performance and is similar to and proportionately not greater than the reductions affecting all or substantially all senior management employees of the Company; (C) following the Executive’s relocation to the Greater Boston, Massachusetts area, any further relocation of the Executive’s principal place of business from Cambridge more than fifty (50) miles other than in a direction that reduces the Executive’s daily commuting distance; or (D) the material breach by the Company of this Agreement or any other agreements between the Executive and the Company relating to Equity Awards.  “Good Reason Process” means that (i) the Executive reasonably determines in good faith that a “Good Reason” condition has occurred; (ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason condition within 60 days of the first occurrence of such condition; (iii) the Executive cooperates in good faith with the Company’s efforts for thirty (30) days following such notice (the “Cure Period”) to remedy the condition; (iv) notwithstanding such efforts, at least one Good Reason condition continues to exist; and (v) the Executive terminates the Executive’s employment within 60 days after the end of the Cure Period.  If the Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred. The Company’s success at curing a Good Reason condition shall not bar or preclude the Executive’s right to notify the Company of the occurrence of another Good Reason condition and to proceed with the Good Reason Process.  

			
	
			
				 (d)
			“Sale Event” means the consummation of (i) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the surviving or resulting entity (or its ultimate parent, if applicable), (iii) the acquisition, directly or indirectly, of all or a majority of the outstanding voting stock of the Company in a single transaction or a series of related transactions by a Person or group of Persons, (iv) a Deemed Liquidation Event (as defined in the Company’s Certificate of Incorporation (as may be amended, restated or otherwise modified from time to time)), or (v) any other acquisition of the business of the Company, as determined by the Board.  Notwithstanding the foregoing, a “Sale Event” shall not be deemed to have occurred as a result of  (a) a merger effected solely to change the Company’s domicile, and (b)  shall not constitute a “Sale Event,” and (b)  of an acquisition of  shares of Company common stock by the Company which, by reducing the number of shares outstanding, increases the proportionate number of shares beneficially owned by any person to a majority of the outstanding shares of common stock of the Company; provided, however, that if any person referred to in this clause (b) shall thereafter become the beneficial owner of any additional shares (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of shares directly from the Company) and immediately thereafter beneficially owns a majority of the then outstanding shares, then a “Sale Event” shall be deemed to have occurred for purposes of this clause (b).   Notwithstanding the foregoing, where required to avoid extra taxation under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), a Sale Event must also satisfy the requirements of Treas. Reg. Section 1.409A-3(a)(5).

			
	
			
				 (e)
			“Sale Event Period” means the period ending twelve (12) months following the consummation of a Sale Event.

		
			

		 

		

			
	
			
				 (f)
			“Terminating Event” means termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason.  A Terminating Event does not include: (i) the termination of the Executive’s employment due to the Executive’s death or a determination that the Executive is Disabled; (ii) the Executive’s resignation for any reason other than Good Reason, (iii) the Company’s termination of the Executive’s employment for Cause, or (iv) any termination of this Agreement prior to the Commencement Date by either party for any reason.  

			
	
			
				 4.
			Compensation in Connection with a Termination for any Reason.  If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or provide to the Executive (or to the Executive’s authorized representative or estate) any earned but unpaid Base Salary, unpaid expense reimbursements, and vested employee benefits.

			
	
			
				 5.
			Severance and Accelerated Vesting if a Terminating Event Occurs within the Sale Event Period.  In the event a Terminating Event occurs within the Sale Event Period, subject to the Executive signing and complying with a separation agreement in a form and manner satisfactory to the Company containing, among other provisions, a general release of claims in favor of the Company and related persons and entities, covenants to return Company property and to not disparage the Company,  and a reaffirmation of the Confidentiality Agreement (the “Separation Agreement and Release”), and the Separation Agreement and Release becoming irrevocable, all within 60 days after the Date of Termination or by an earlier date as determined by the Company, the following shall occur:

			
	
			
				 (a)
			the Company shall pay to the Executive an amount equal to twelve (12) months of the Executive’s Base Salary in effect immediately prior to the Terminating Event (or the Executive’s Base Salary in effect immediately prior to the Sale Event, if higher), determined in each case immediately before any event that constitutes Good Reason;  

			
	
			
				 (b)
			the Company shall pay to the Executive an amount equal to the annual bonus target for the current year based on the Date of Termination;

			
	
			
				 (c)
			if the Executive timely elects and is eligible to continue receiving group health insurance pursuant to the “COBRA” law, the Company will, until the earlier of (x) the date that is twelve (12) months following the Date of Termination, and (y) the date on which the Executive obtains alternative coverage (as applicable, the “Sale Event COBRA Contribution Period”), continue to pay the share of the premiums for such coverage to the same extent it was paying such premiums on the Executive’s behalf immediately prior to the Date of Termination.  The remaining balance of any premium costs during the Sale Event COBRA Contribution Period, and all premium costs thereafter, shall be paid by the Executive monthly for as long as, and to the extent that, the Executive remains eligible for COBRA continuation.  The Executive agrees that, should the Executive obtain alternative medical and/or dental insurance coverage prior to the date that is twelve (12) months following the Date of Termination, the Executive will so inform the Company in writing within five (5) business days of obtaining such coverage.  Notwithstanding anything to the contrary herein, in the event that the Company’s payment of the amounts described in Section 6(c) would subject the Company to any tax or penalty under the Patient Protection and Affordable Care Act (as amended from time to time, the “ACA”) or Section 105(h) of the Internal Revenue Code of 1986, as amended (“Section 105(h)”), or applicable regulations or guidance issued under the ACA or Section 105(h), the Executive and the Company agree to work together in good faith to restructure such benefit.

			
	
			
				 (d)
			100% of all equity awards held by the Executive shall immediately accelerate and become fully exercisable or nonforfeitable as of the Date of Termination and the provisions of this Section 6(d) shall be deemed to be incorporated by reference into the agreements governing all such awards.

		
			For avoidance of doubt, the Separation Agreement and Release for purposes of this Agreement shall not require a waiver of any rights under the indemnification agreement between the Company and the Executive or any rights described in Section 5 above.  Notwithstanding the foregoing, if the Executive’s employment is terminated in connection with a Sale Event and the Executive immediately becomes reemployed by any direct or indirect successor to the business or assets of the Company, the termination of the Executive’s employment upon the Sale Event shall not be considered a termination without Cause for purposes of this Agreement.   
		

		
			

		 

		

		
			The amounts payable under Sections 6(a) and 6(b) shall be paid out in substantially equal installments in accordance with the Company’s payroll practice over twelve (12) months  commencing within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the severance shall begin to be paid in the second calendar year by the last day of such 60-day period; provided further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination.  Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).  
		

			
	
			
				 6.
			Severance if a Terminating Event Occurs Outside the Sale Event Period.  In the event a Terminating Event occurs at any time other than during the Sale Event Period, subject to the Executive signing the Separation Agreement and Release and the Separation Agreement and Release becoming irrevocable, all within 60 days after the Date of Termination or by an earlier date as determined by the Company, the following shall occur:

			
	
			
				 (a)
			the Company shall pay to the Executive an amount equal to twelve (12) months of the Executive’s annual Base Salary in effect immediately prior to the Terminating Event (but only after disregarding any event that constitutes Good Reason);

			
	
			
				 (b)
			the Company shall pay to the Executive a prorated portion of the annual bonus target for the current year based on the Date of Termination; and

			
	
			
				 (c)
			if the Executive timely elects and is eligible to continue receiving group health insurance pursuant to the “COBRA” law, the Company will, until the earlier of (x) the date that is twelve (12) months following the Date of Termination, and (y) the date on which the Executive obtains alternative coverage (as applicable, the “Non-Sale Event COBRA Contribution Period”), continue to pay the share of the premiums for such coverage to the same extent it was paying such premiums on the Executive’s behalf immediately prior to the Date of Termination.  The remaining balance of any premium costs during the Non-Sale Event COBRA Contribution Period, and all premium costs thereafter, shall be paid by the Executive on a monthly basis for as long as, and to the extent that, the Executive remains eligible for COBRA continuation.  The Executive agrees that, should the Executive obtain alternative medical and/or dental insurance coverage prior to the date that is twelve (12) months following the Date of Termination, the Executive will so inform the Company in writing within five (5) business days of obtaining such coverage.  Notwithstanding anything to the contrary herein, in the event that the Company’s payment of the amounts described in Section 7(c) would subject the Company to any tax or penalty under the ACA or Section 105(h), or applicable regulations or guidance issued under the ACA or Section 105(h), the Executive and the Company agree to work together in good faith to restructure such benefit.

		
			The amounts payable under Section 7(a) and 7(b) shall be paid out in substantially equal installments in accordance with the Company’s payroll practice over twelve (12) months commencing within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the severance shall begin to be paid in the second calendar year by the last day of such 60-day period; provided further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination.  Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).  
		

			
	
			
				 7.
			Confidentiality, Non-Solicitation, Non-Competition and Invention Assignment Agreement.  The Executive acknowledges and agrees that he must execute the Confidentiality Agreement between the Company and the Executive, attached hereto as Exhibit A, as a condition of his employment with the Company.  The Executive acknowledges that the Executive’s receipt of the grant of a stock option award and a restricted stock unit award as set forth in Section 3(c) is contingent on the Executive’s agreement to the non-competition provisions set forth in the Confidentiality Agreement.  The Executive further acknowledges that such consideration was mutually agreed upon by the Executive and the Company and is fair and reasonable in exchange for the Executive’s compliance with such non-competition obligations.  The terms of the Confidentiality Agreement are incorporated by reference in this Agreement and the Executive hereby reaffirms the terms of the Confidentiality Agreement as a material term of this Agreement.  

		
			

		 

		

			
	
			
				 8.
			Additional Limitation.

			
	
			
				 (a)
			Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of all of the Aggregate Payments shall be $1.00 less than the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would result in the Executive receiving a higher After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments were not subject to such reduction.  In such event, the Aggregate Payments shall be reduced in the following order, in each case, in reverse chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code:  (i) cash payments not subject to Section 409A of the Code; (ii) cash payments subject to Section 409A of the Code; (iii) equity-based payments and acceleration; and (iv) non-cash forms of benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c).

			
	
			
				 (b)
			For purposes of this Section, the “After Tax Amount” means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments.  For purposes of determining the After Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. 

		
			The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to this Section shall be made by a nationally recognized accounting firm selected by the Company prior to the Change in Control (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive.  Any determination by the Accounting Firm shall be binding upon the Company and the Executive. 
		

			
	
			
				 9.
			Section 409A.

			
	
			
				 (a)
			Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s “separation from service” within the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (i) six months and one day after the Executive’s separation from service, or (ii) the Executive’s death.  

			
	
			
				 (b)
			The parties intend that this Agreement will be administered in accordance with Section 409A of the Code.  To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code.  The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party.

			
	
			
				 (c)
			All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by the Executive during the time periods set forth in this Agreement.  All 

		 

	reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred.  The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year.  Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

			
	
			
				 (d)
			To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such payments or benefits shall be payable only upon the Executive’s “separation from service.”  The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h).

			
	
			
				 (e)
			The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.

			
	
			
				 10.
			Taxes.  All forms of compensation referred to in this Agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law.  The Executive hereby acknowledges that the Company does not have a duty to design its compensation policies in a manner that minimizes tax liabilities.  

			
	
			
				 11.
			Notice and Date of Termination.

			
	
			
				 (a)
			Notice of Termination.  The Executive’s employment with the Company may be terminated by the Company or the Executive at any time and for any reason.  Any termination of the Executive’s employment (other than by reason of death) shall be communicated by written Notice of Termination from one party hereto to the other party hereto in accordance with this Section.  For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon.  

			
	
			
				 (b)
			Date of Termination.  “Date of Termination” shall mean: (i) if the Executive’s employment is terminated by the Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is terminated on account of Executive’s Disability or by the Company for Cause or without Cause, the date specified in  the Notice of Termination; (iii) if the Executive’s employment is terminated by the Executive for any reason except for Good Reason, 30 days after the date specified in the Notice of Termination, and (iv) if the Executive’s employment is terminated by the Executive with Good Reason, the date specified in the Notice of Termination given after the end of the Cure Period.  Notwithstanding the foregoing, in the event that the Executive gives a Notice of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such acceleration shall not result in the termination being deemed a termination by the Company for purposes of this Agreement.

			
	
			
				 12.
			Litigation and Regulatory Cooperation.  During and after the Executive’s employment, and at all times, so long as there is not a significant conflict with the Executive’s then employment, the Executive shall cooperate reasonably with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was employed by the Company.  The Executive’s reasonable cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times.  During and after the Executive’s employment, the Executive also shall cooperate reasonably with the Company in connection with any investigation or review of the Company by any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company.  The Company shall reasonably compensate Executive for the time dedicated to, and shall reimburse the Executive for any reasonable out of pocket expenses incurred in connection with, the Executive’s performance of the obligations set forth in  this Section; provided, however, that the Company will not pay the Executive any fee or amount for time spent providing testimony in any arbitration, trial, administrative hearing or other proceeding.

		
			

		 

		

			
	
			
				 13.
			Relief.  If the Executive breaches, or proposes to breach, any portion of this Agreement, including the Confidentiality Agreement, or, if applicable, the Separation Agreement and Release, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach, and, if applicable, the Company shall have the right to suspend or terminate the payments, benefits and/or accelerated vesting, as applicable.  Such suspension or termination shall not limit the Company’s other options with respect to relief for such breach and shall not relieve the Executive of its duties under this Agreement, the Confidentiality Agreement or the Separation Agreement and Release.  

			
	
			
				 14.
			Scope of Disclosure Restrictions. Nothing in this Agreement or the Confidentiality Agreement prohibits the Executive from communicating with government agencies about possible violations of federal, state, or local laws or otherwise providing information to government agencies, filing a complaint with government agencies, or participating in government agency investigations or proceedings.  The Executive is not required to notify the Company of any such communications; provided, however, that nothing herein authorizes the disclosure of information the Executive obtained through a communication that was subject to the attorney-client privilege.  Further, notwithstanding the Executive’s confidentiality and nondisclosure obligations, the Executive is hereby advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.”

			
	
			
				 15.
			Governing Law; Consent to Jurisdiction; Forum Selection.  The resolution of any disputes as to the meaning, effect, performance or validity of this Agreement or the Confidentiality Agreement, or arising out of, related to, or in any way connected with the Executive’s employment with the Company or any other relationship between the Executive and the Company (“Disputes”) will be governed by the law of the Commonwealth of Massachusetts, excluding laws relating to conflicts or choice of law.  The Executive and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in the Commonwealth of Massachusetts in connection with any Dispute or any claim related to any Dispute and agree that any claims or legal action shall be commenced and maintained solely in a state or federal court located in the Commonwealth of Massachusetts.  

			
	
			
				 16.
			Integration.  This Agreement constitutes the entire agreement between the parties with respect to compensation, severance pay, benefits and accelerated vesting and supersedes in all respects all prior agreements between the parties concerning such subject matter, including without limitation the Employment Agreement dated as of January 14, 2019 between the Executive and the Company.  Notwithstanding the foregoing, the Confidentiality Agreement, and any other agreement or obligation relating to confidentiality, noncompetition, non-solicitation or assignment of inventions shall not be superseded by this Agreement, and, as described in Section 8 above, the Executive acknowledges and agrees that any such agreements and obligations remain in full force and effect.  For purposes of this Agreement, the Company shall include affiliates and subsidiaries thereof.  

			
	
			
				 17.
			Enforceability.  If any portion or provision of this Agreement (including, without limitation, any portion or provision of any Section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

			
	
			
				 18.
			Waiver.  No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party.  The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

		
			

		 

		

			
	
			
				 19.
			Notices.  Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and (i) sent by email to the email addresses used by the CEO or by the Executive (as applicable) in their usual course of business; (ii) delivered by hand; (iii) sent by a nationally recognized overnight courier service or (iv) sent by registered or certified mail, postage prepaid, return receipt requested, in each case (clauses (iii) and (iv)) to the Executive at the last address the Executive has filed in writing with the Company, or (as applicable) to the Company at its main office, attention of the CEO or Vice President, Human Resources.

			
	
			
				 20.
			Amendment.  This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative of the Company.

			
	
			
				 21.
			Assignment and Transfer by the Company; Successors.  The Company shall have the right to assign and/or transfer this Agreement to any entity or person, including without limitation the Company’s parents, subsidiaries, other affiliates, successors, and acquirers of Company stock or other assets, provided that such entity or person receives all or substantially all of the Company’s assets.  The Executive hereby expressly consents to such assignment and/or transfer.  This Agreement shall inure to the benefit of and be enforceable by the Company’s assigns, successors, acquirers and transferees.  

			
	
			
				 22.
			Counterparts.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original, but all of which together shall constitute one and the same document. 

		
			 
		

		
			 
		

		
			

		 

		

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

		
			
		

		
			VOYAGER THERAPEUTICS, INC.
		

		
			By:/s/ Andre Turenne
		

		
			Name:Andre Turenne
		

		
			Title:  President & Chief Executive Officer
		

		
			 
		

		
			EXECUTIVE:
		

		
			 
		

		
			 
		

		
			/s/ Omar Khwaja
		

		
			Omar Khwaja, M.D., Ph.D.vygr_ Ex10_3

		
			Exhibit 10.3
		

		
			Certain identified information has been excluded from the exhibit because it is both (i) not material and (ii) would likely cause competitive harm to the Company, if publicly disclosed.  Double asterisks denote omissions.
		

		
			TERMINATION AGREEMENT
		

		
			This TERMINATION AGREEMENT (the  “Agreement”), is entered into as of June 14, 2019 (the “Agreement Date”), to terminate that certain Collaboration Agreement,  dated February 11, 2015, as amended by Amendment No. 1 to Collaboration Agreement, dated March 28, 2017 (together, the “Collaboration Agreement”), by and between Voyager Therapeutics, Inc., a corporation organized and existing under the laws of Delaware (“Voyager”), and Genzyme Corporation, a corporation organized and existing under the laws of the Commonwealth of Massachusetts (“Genzyme”).  Genzyme and Voyager are each referred to herein as a “Party” and collectively as the “Parties.”
		

		
			RECITALS
		

		
			WHEREAS, with respect to the PD Collaboration Program, the Parties have previously entered into a Post-Termination Agreement under Collaboration Agreement, dated December 8, 2017;
		

		
			WHEREAS, the Parties now wish to terminate the Collaboration Agreement, including their respective rights and obligations under the FA Collaboration Program, the HD Collaboration Program,  the SMA Collaboration Program and the Future Collaboration Program subject to the surviving rights and obligations set forth herein;
		

		
			WHEREAS, the Parties wish to grant and receive certain licenses relating to the FA Collaboration Program, the HD Collaboration Program and the SMA Collaboration Program;
		

		
			WHEREAS, the Parties will simultaneously enter into an Amended and Restated Option and License Agreement, of even date herewith, pursuant to which Voyager will grant Genzyme  certain rights with respect to capsids Controlled by Voyager; and.
		

		
			NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows:
		

		
			1.         Definitions.  Capitalized terms that are not defined in this Agreement shall have the meaning set forth in the Collaboration Agreement.  Unless specifically set forth to the contrary herein, the following terms, whether used in the singular or plural shall have the respective meanings set forth herein.
		

		
			1.1       “Active MTAs” means the material transfer agreements set forth in Schedule 1.1.
		

		
			1.2       “FA Collaboration Product” means any Gene Therapy Product developed by either Party or jointly under a FA Collaboration Program.
		

		
			
		

		
			

		 

		

		
			 
		

		
			1.3       “HD Collaboration Product” means any Gene Therapy Product developed by either Party or jointly under a HD Collaboration Program.
		

		
			1.4       “Genzyme HD Sequence” means a sequence set forth in Schedule 1.4.  For purposes of clarity, the Genzyme [**] HD Sequence is a Genzyme HD Sequence.
		

		
			1.5       “Genzyme [**] HD Sequence” means the sequence identified as SEQ ID No. [**] and set forth in Schedule 1.4, and any variations or derivatives thereof which target the same region of the HTT gene as registered at GenBank [**].
		

		
			1.6       “Genzyme Stuffer Sequence”  means the sequence in Schedule 1.3 and, subject to the assessment performed under Section 7.3, any derivatives thereof that are reasonably useful as filler sequence(s) in a viral vector in order to achieve the length acceptable for AAV vector packaging or encapsulation into infectious virus particles.
		

		
			1.7       “Post-Termination FA Product”  means any of the following: (a) the FA Collaboration Product known as VY-FXN01, (b) any other FA Collaboration Product Developed by the Parties before the Agreement Date, and (c) any Gene Therapy Product in the field of FA for which the Development, Manufacture, or Commercialization of such Gene Therapy Product would infringe at least one Valid Claim of a Collaboration Patent Right.
		

		
			1.8       “Post-Termination HD Product”  means any of the following: (a) the HD Collaboration Product known as VY-HTT01, (b) any other HD Collaboration Product Developed by the Parties before the Agreement Date, (c) any Gene Therapy Product encoding an miRNA with at least [**]% similarity to the HTT miRNA encoded by VY-HTT01, and (d) any Gene Therapy Product in the field of HD for which the Development, Manufacture, or Commercialization of such Gene Therapy Product would infringe at least one Valid Claim of a Collaboration Patent Right. Notwithstanding the foregoing, Post-Termination HD Product shall not include any Gene Therapy Product encoding a miRNA identified as a Genzyme HD Sequence.
		

		
			1.9       “Post-Termination SMA Product”  means any of the following: (a) the SMA Collaboration Product formerly known as [**], (b) any other SMA Collaboration Product Developed by the Parties before the Agreement Date, and (c) any Gene Therapy Product in the field of SMA for which the Development, Manufacture, or Commercialization of such Gene Therapy Product would infringe at least one Valid Claim of a Collaboration Patent Right.
		

		
			1.10     “Residual Knowledge”  means, with respect to a Party, intangible Know-How developed in the course of or relating to the Collaboration or otherwise to this Agreement or the Collaboration Agreement that has not been licensed to such Party or for which such Party does not otherwise have rights and that has been unintentionally retained in the unaided memories of any employees, contractors, or consultants of such Party.  An individual’s memory is unaided if the individual has
		

		
			
		

		
			

		 

		

			-  2  -

		

		

		
			 
		

		
			not intentionally memorized such information for the purposes of retaining and subsequently using or disclosing it.
		

		
			1.11     “SMA Collaboration Product” means any Gene Therapy Product developed by either Party or jointly under a SMA Collaboration Program.
		

		
			2.         Termination of Collaboration Agreement.  As of the Agreement Date, the Parties mutually agree that the Collaboration Agreement is terminated in its entirety and all rights and obligations under the Collaboration Agreement shall cease, except as provided in this Agreement.  For the avoidance of doubt, subject to the terms of this Agreement, as of the Agreement Date:
		

		
			2.1       Except as explicitly set forth herein, the Collaboration shall terminate and performance of the Collaboration shall cease in its entirety;
		

		
			2.2       All license grants in the Collaboration Agreement from either Party to the other shall immediately terminate;
		

		
			2.3       Genzyme’s right to designate a Voyager CNS Orphan Disease Program as a Collaboration Program under Section 2.2.1 of the Collaboration Agreement shall immediately terminate;
		

		
			2.4       All exclusivity obligations under Section 13.5 of the Collaboration Agreement shall immediately terminate;
		

		
			2.5       Voyager’s right to elect to use a  Genzyme HD Sequence under Sections 4.6 and 9.1.6.3(b)(iv) of the Collaboration Agreement shall immediately terminate;
		

		
			2.6       Voyager’s right to make the Producer Cell Process Election under Sections 4.7.1 and 9.1.6.3(b)(v) of the Collaboration Agreement shall immediately terminate; and
		

		
			2.7       The Parties acknowledge that, (a) other than the Active MTAs, all material transfer agreements entered into by the Parties in connection with the Collaboration Agreement have expired, and (b) except as provided in Section 8.1 of this Agreement, all SOWs for In-Kind Services under the Collaboration Agreement have been completed.
		

		
			3.         Reversion of Collaboration Programs.  As of the Agreement Date,  (a) the SMA Collaboration Program shall revert to Genzyme, and Genzyme shall have the right to continue the research and Development of Gene Therapy Products previously conducted in the SMA Collaboration Program by the Parties and the Commercialization of products resulting therefrom; (b) the FA Collaboration Program  shall revert to Voyager, and Voyager shall have the right to continue the research and Development of Gene Therapy Products previously conducted in the FA Collaboration by the Parties and the Commercialization of products resulting therefrom; and (c) the HD Collaboration Program, excluding the Genzyme HD Sequences,  shall revert to Voyager, and Voyager shall have the right to continue the research and Development of Gene Therapy Products
		

		
			
		

		
			

		 

		

			-  3  -

		

		

		
			 
		

		
			previously conducted in the HD Collaboration Program, excluding the Genzyme HD Sequences, by the Parties and the Commercialization of products resulting therefrom.
		

		
			4.         Licenses Granted to Voyager.  Subject to the terms and conditions of this Agreement, as of the Agreement Date, Genzyme hereby grants to Voyager:
		

		
			4.1       License Grants Relating to FA Collaboration Program.
		

		
			(a)  An  exclusive (even as to Genzyme),  irrevocable, perpetual, royalty-free, fully-paid sublicensable (through multiple tiers), non-transferable (except in accordance with Section 17.1 of the Collaboration Agreement), worldwide license under Genzyme’s interest in the Collaboration Technology generated under or used in the FA Collaboration Program to Manufacture, Develop and Commercialize Post-Termination FA Products; and
		

		
			(b)  A non-exclusive, irrevocable, perpetual, royalty-free, fully-paid, sublicensable (through multiple tiers), non-transferable (except in accordance with Section 17.1 of the Collaboration Agreement), worldwide license under the Genzyme Technology (excluding any Patent Rights Covering or Know-How related to the Genzyme Producer Cell Process) that has been used in the Development or Manufacture of a Post-Termination FA Product prior to the Agreement Date to Develop, Manufacture, and Commercialize such Post-Termination FA Product.
		

		
			4.2       License Grants Relating to HD Collaboration Program.
		

		
			(a)  An exclusive (even as to Genzyme),  sublicensable (through multiple tiers), non-transferable (except in accordance with Section 17.1 of the Collaboration Agreement), worldwide license under Genzyme’s interest in the Collaboration Technology generated under or used in the HD Collaboration Program to Manufacture, Develop and Commercialize Post-Termination HD Products; and
		

		
			(b)  A non-exclusive sublicensable (through multiple tiers), non-transferable (except in accordance with Section 17.1 of the Collaboration Agreement), worldwide license under the Genzyme Technology (excluding any Patent Rights Covering or Know-How related to the Genzyme Producer Cell Process) that has been used in the Development or Manufacture of a Post-Termination HD Product prior to the Agreement Date to Develop, Manufacture, and Commercialize the Post-Termination HD Product.
		

		
			(c)  The licenses granted by Genzyme to Voyager under the foregoing clauses (a) and (b) shall be royalty-bearing for the Post-Termination Royalty Term applicable to each Post-Termination HD Product in each country in the world, and, after the Post-Termination Royalty Term applicable to such Post-Termination HD Product in such country, shall convert to a fully-paid, perpetual, exclusive license (in the case of the license granted in clause (a)) or non-exclusive license (in the case of the license granted in clause (b)) in such country.
		

		
			
		

		
			

		 

		

			-  4  -

		

		

		
			 
		

		
			(d)  For purposes of clarity, the licenses granted by Genzyme to Voyager under the foregoing clauses (a) and (b) do not include any rights under Genzyme Patent Rights or under the Genzyme Collaboration Patent Rights Covering the Genzyme HD Sequences or rights to any Know How related to the Genzyme HD Sequences.
		

		
			5.         License Granted to Genzyme.  Subject to the terms and conditions of this Agreement, as of the Agreement Date, Voyager hereby grants to Genzyme an  exclusive (even as to Voyager),  royalty-free, fully-paid, sublicensable (through multiple tiers), non-transferable (except in accordance with Section 17.1 of the Collaboration Agreement), worldwide license under Voyager’s interest in the Collaboration Technology generated under or used in the SMA Collaboration Program,  to Manufacture, Develop, and Commercialize any Post-Termination SMA Product.
		

		
			6.         Know-How Covenants Not to Sue and Destruction of Competitively Sensitive Information.
		

		
			6.1       Except to enforce the provisions of Section 6.3 below, Genzyme, on behalf of itself and its Affiliates and their respective directors, officers, employees and agents,   (collectively, in such capacities, the “Genzyme Parties”) and its and their respective successors and assigns, hereby covenants not to sue or assert any claim or liability against any Voyager Party (as defined below) with respect to any Residual Knowledge that constitutes Genzyme Know-How or Joint Collaboration Know-How.
		

		
			6.2       Except to enforce the provisions of Section 6.3,  Voyager, on behalf of itself and its Affiliates and their respective directors, officers, employees and agents (collectively, in such capacities, the “Voyager Parties”) and its and their respective successors and assigns, hereby covenants not to sue or assert any claim or liability against any Genzyme Party with respect to any Residual Knowledge that constitutes Voyager Know-How or Joint Collaboration Know-How.
		

		
			6.3       Nothing in this Agreement or the Collaboration Agreement shall restrict either the Genzyme Parties or the Voyager Parties from using Residual Knowledge, provided, however, that if any such Residual Knowledge is, as between the Parties, the Confidential Information solely of the other Party (in such capacity, the “Disclosing Party”), (a) any such use shall be subject to the non-disclosure obligations under Section 10.1 of the Collaboration Agreement and (b) individuals within the Genzyme Parties or Voyager Parties who hold Residual Knowledge shall not (whether orally, electronically or in writing) reference the Disclosing Party in connection with, or attribute to the Disclosing Party, any such Residual Knowledge.  By way of example, neither Party shall be prohibited from utilizing a particular assay, process, protocol, dosage, or similar Know-How held as Residual Knowledge, but the individuals holding such Residual Knowledge shall not disclose (including to fellow individuals or entities within the Genzyme Parties or Voyager Parties, as the case may be) whether or not the Disclosing Party uses or has used any such particular assays, processes, protocols, dosages, or other non-public specifics.
		

		
			
		

		
			

		 

		

			-  5  -

		

		

		
			 
		

		
			6.4       Destruction of Confidential Information.
		

		
			(a)  Within [**] of the Agreement Date
		

		
			(i) each Party shall delete from any of its respective sharepoint sites (or if such Party did not use sharepoint, then any similar central data repository that were used as the primary channel to share information regarding the Collaboration) any Confidential Information solely of the other Party, and
		

		
			(ii) the Alliance Manager for each of the Parties shall send an e-mail to their respective team members still employed by such Party and who had access to any such sharepoint site or central data repository as described in the preceding subclause (i), instructing each such team member to (X) delete and/or destroy all electronic and printed files containing Confidential Information solely of the other Party, and (Y) to send an email to the Alliance Manager confirming that such deletion and/or destruction has been completed;
		

		
			provided that in either case of (i) and (ii), neither Party will be required to destroy any computer files that are created during automatic system back-ups and stored securely by such Party.
		

		
			(b)  Within [**] of the Agreement Date, upon written request of the other Party, the Alliance Manager shall provide a certificate confirming that the requirements of 6.4(a) have been satisfied.
		

		
			6.5       Notwithstanding anything to the contrary contained in Section 6.1, Section 6.2, Section 6.3 and Section 6.4, and unless explicitly stated otherwise herein, neither Party is obliged to provide the other Party with any Know-How, nor explain or further educate the other Party regarding any Know-How
		

		
			7.         Covenants regarding Collaboration Patent Rights.
		

		
			7.1       Voyager covenants that it,  will not, and will cause its Affiliates,  licensees, and sublicensees to not, file or prosecute any claim in the Joint Collaboration Patent Rights or Voyager Collaboration Patent Rights referring directly or indirectly to the Genzyme [**] HD Sequence or any other Genzyme HD Sequence.  Voyager shall cancel any such claims within [**] of the Agreement Date.
		

		
			7.2       Neither Party shall be permitted, other than as provided pursuant to the licenses granted under Section 4 and Section 5 of this Agreement, to enter into a stand-alone license to any Joint Collaboration Patent Rights to a Third Party without the prior written consent of the other Party; provided, however, that in the context of a bona fide collaboration with a Third Party requiring a license under multiple Patent Rights,  either Party may license its interest under any Joint Collaboration Patent Rights to such Third Party, without the consent of the other Party, which are necessary to Develop, Manufacture or Commercialize Post-Termination HD
		

		
			
		

		
			

		 

		

			-  6  -

		

		

		
			 
		

		
			Products, Post-Termination FA Products or Post-Termination SMA Products consistent with the rights respectively allocated to the Parties in Section 3. Neither Party shall be permitted to assign its interest in the Joint Collaboration Patent Rights to a Third Party without the prior written consent of the other Party.  Notwithstanding the foregoing, either Party may, without the other Party’s written consent, assign its interest in the Joint Collaboration Patent Rights to a party that acquires, by or otherwise in connection with, merger, sale of assets or otherwise, all or substantially all of the business of the assigning Party to which the subject matter of the Joint Collaboration Patent Right relates, provided that the assignee agrees in writing to assume all of the assigning Party’s obligations under this Agreement.
		

		
			7.3       The Parties agree to use [**] of [**] as IP counsel to conduct an inventorship assessment of any inventions claimed in the Voyager Collaboration Patent Rights that include all or a portion of Genzyme’s Stuffer Sequence.  If the Parties later decide to change IP counsel conducting this analysis, the Parties will work together in good faith to select a new IP counsel having appropriate experience.  The costs of the inventorship assessment will be borne equally by the parties.  The inventorship assessment shall determine inventorship in accordance with U.S. patent laws.  If the results of the inventorship assessment are that one or more employees of Genzyme or its Affiliates (or a Third Party acting on their behalf) are inventor(s) of any claimed invention, then Voyager shall take, at its sole expense, all reasonable actions with respective patent offices that are necessary to add such Genzyme employee or employees as inventors and Genzyme as a co-applicant or co-owner, as the case may be.  At Genzyme’s sole discretion, if any claim for which a Genzyme employee or employees must be added as an inventor or inventors is pending in a patent application, then Genzyme may request that Voyager, at its sole expense, cancel such claim or claims and take all steps reasonably available (including cooperating with Genzyme and its external counsel) in order to establish divisional or similar applications that solely contain claims invented by the Genzyme employee or employees, and such divisional or similar applications will become Genzyme Patent Rights.  If any claim for which a Genzyme employee or employees must be added as an inventor or inventors is found in an issued patent, Voyager will fully cooperate with Genzyme (and its external counsel) with regard to adding and formally registering Genzyme as a co-owner of the patent.
		

		
			8.         Program Transition.
		

		
			8.1       [**] Study.  Following the Agreement Date, Genzyme shall continue to conduct the ongoing [**] study, as described more fully in Schedule 8.1 to this Agreement (the “[**] Study”), and Genzyme shall complete such [**] Study and provide to Voyager in electronic form the raw data described on Schedule 8.1, and in the format described on Schedule 8.1 by [**] unless otherwise mutually agreed by the Parties. Performance of the [**] Study shall be at Genzyme’s sole cost and expense.   The Parties further agree that once Genzyme has provided the information required under Schedule 8.1, it shall have no further obligation to Voyager to conduct any further studies, or provide any other data relating to the [**] Study.
		

		
			
		

		
			

		 

		

			-  7  -

		

		

		
			 
		

		
			8.2       Voyager Document Request.  Until the date that is [**] after the Agreement Date, Voyager may request from Genzyme copies of specific data, reports, records, materials or other information that relate to the Development, Manufacture or Commercialization of any HD Collaboration Product, and Genzyme shall provide such data, reports, records, materials or other information if available.  Such data, reports, records, materials or other information may include (a) governmental or regulatory correspondence, conversation logs and filings solely relating to any HD Collaboration Product, (b) non-clinical and clinical data relating to the HD Collaboration Program and (c) adverse event data related to any HD Collaboration Product, in each case, in Genzyme’s possession or Control.
		

		
			8.3       Genzyme Document Request.  Until the date that is [**] after the Agreement Date, Genzyme may request from Voyager copies of specific data, reports, records, materials or other information that relate to the Development, Manufacture or Commercialization of any SMA Collaboration Product,  and Voyager shall provide such data, reports, records, materials or other information if available.  Such data, reports, records, materials or other information may include (a) governmental or regulatory correspondence, conversation logs and filings solely relating to any SMA Collaboration Product, (b) non-clinical and clinical data relating to the SMA Collaboration Program and (c) adverse event data related to any SMA Collaboration Product, in each case, in Voyager’s possession or Control.
		

		
			9.         Prosecution and Maintenance, Defense and Enforcement of Patent Rights.
		

		
			9.1       Voyager shall have the sole responsibility to, at Voyager’s discretion and at Voyager’s sole cost and expense, file, prosecute and maintain (including the defense of any interference or opposition proceedings or inter partes review), all (a) Voyager Patent Rights, (b) Voyager Collaboration Patent Rights that do not solely relate to any SMA Collaboration Product and (c) any Joint Collaboration Patent Rights that solely relate to any Post-Termination FA Product or Post-Termination HD Product.  Genzyme shall have no rights under Section 15.2.1.3 of the Collaboration Agreement or otherwise to prosecute or maintain any Voyager Collaboration Patent Rights set forth above in this subsection.
		

		
			9.2       Voyager shall have the sole and exclusive right, but not the obligation, to take any reasonable measures it deems appropriate with respect to any infringement of any (a) Voyager Technology, (b) Voyager Collaboration Technology that does not solely relate to any Post-Termination SMA Product,  (c) Joint Collaboration Technology that solely relates to any (i) Post-Termination FA Product or (ii) Post-Termination HD Product, and (d) Genzyme Collaboration Technology that solely relates to any (i) Post-Termination FA Product or (ii) Post-Termination HD Product. Voyager shall not be obligated to share any amounts recovered as a result of any such measures with Genzyme.
		

		
			9.3       Genzyme shall have the sole responsibility to, at Genzyme’s discretion and at Genzyme’s sole cost and expense, file, prosecute and maintain (including the defense of any interference or opposition proceedings or inter partes review), all
		

		
			
		

		
			

		 

		

			-  8  -

		

		

		
			 
		

		
			(a) Genzyme Patent Rights, (b) Genzyme Collaboration Patent Rights that do not solely relate to any Post-Termination FA Product or Post-Termination HD Product, (c) Joint Collaboration Patent Rights that solely relate to any Post-Termination SMA Product, (d) Voyager Collaboration Patent Rights that solely relate to any Post-Termination SMA Product and (e) Patent Rights that Cover Genzyme HD Sequence Technology and/or one or more Genzyme HD Sequences. Voyager shall have no rights under Section 15.2.2.2(c) of the Collaboration Agreement or otherwise to prosecute or maintain any Patent Rights set forth above in this subsection.
		

		
			9.4       Genzyme shall have the sole and exclusive right, but not the obligation, to take any reasonable measures it deems appropriate with respect to any infringement of any (a) Genzyme Technology, (b) Genzyme Collaboration Technology that does not solely relate to any (i) Post-Termination FA Product or (ii) Post-Termination HD Product, (c) Joint Collaboration Technology that solely relates to any Post-Termination SMA Product, (d) Voyager Collaboration Technology that solely relates to any Post-Termination SMA Product and (e) Patent Rights that Cover Genzyme HD Sequence Technology and/or one or more Genzyme HD Sequences. Genzyme shall not be obligated to share any amounts recovered as a result of any such measures with Voyager.
		

		
			10.       Financial Terms.
		

		
			10.1     Certain Definitions.  For purposes of construing certain defined terms used in this Section 10, including but not limited to the definition of Net Sales, First Commercial Sale and Step-Down Product, references to “Licensed Product” in the corresponding definitions under the Collaboration Agreement shall be read to mean “Post-Termination HD Product” and references to “Genzyme” shall be replaced with “Voyager” and in each case applied mutatis mutandis to the situation involving Licensed Products sold by Genzyme under the Collaboration Agreement.
		

		
			10.2     No Payments Owed under Collaboration Agreement.  Each Party agrees that it is not owed any amounts by the other Party under the Collaboration Agreement as of immediately prior to the Agreement Date.
		

		
			10.3     Upfront Payment.  Voyager shall pay Genzyme Ten Million Dollars ($10,000,000) within fifteen (15) days of the Agreement Date.
		

		
			10.4     HD Milestone Payment.  Voyager shall pay Genzyme Ten Million Dollars ($10,000,000) within fifteen (15) days of the first IND filing for a Post-Termination HD Product (such IND filing, the “HD IND Filing”).
		

		
			10.5     Sublicense Fees.  In consideration of the licenses and rights granted to Voyager hereunder, Voyager shall pay to Genzyme the percentages of all Third Party Fees receivable from any of Voyager’s Sublicensees as set forth below (“Sublicense Fees”). As used herein, “Third Party Fee” means that portion of any consideration in any form due to Voyager or one of its Affiliates by a Sublicensee attributable to
		

		
			
		

		
			

		 

		

			-  9  -

		

		

		
			 
		

		
			any rights to either (a) a Post-Termination FA Product in any country of the world other than the United States, or (b) a Post-Termination HD Product in any country in the world, excluding such amounts received by Voyager or its Affiliates as (x) reimbursement or payment for reasonable, incremental costs (not including any capital expenditures) to be incurred by Voyager or its Affiliates in the performance of research or development activities relating to Post-Termination HD Products or Post-Termination FA Products or (y)  reimbursement or payment for unreimbursed costs and expenses with respect to  prosecution and maintenance of Patent Rights relating to Post-Termination HD Products or Post-Termination FA Products that are incurred by Voyager or its Affiliates with respect to Patent Rights that are licensed to Voyager pursuant to this Agreement and incurred after the Agreement Date; provided, that the aggregate amount of deductions from Third Party Fees solely because of the exclusions set forth in subclause  (x) and (y) shall in no event exceed [**] percent ([**]%) of what Third Party Fees would have been without giving effect to subclauses (x) and (y).  For clarity, payments made by a Sublicensee in consideration of equity or debt securities of Voyager sold at fair market value to the Sublicensee shall not be considered a Third Party Fee, provided that amounts paid in consideration of equity or debt securities of Voyager in excess of fair market value shall be considered a Third Party Fee. For purposes of this Agreement, “Sublicensee” means a Third Party to whom Voyager grants a direct or indirect sublicense under any of the Collaboration Technology or Genzyme Technology.
		

		
			 
		

			
					
						Product

					
					
						Third Party Fee

					
					
						Sublicense Fee

				
	
					
						Post-Termination FA Product

					
					
						Third Party Fees, excluding any Third Party Fees from Neurocrine Biosciences Inc., in excess of $[**] (the “FA Threshold”) that are owed pursuant to an agreement executed before first patient dosed in a Clinical Study in the United States, [**] (the “FA End Date”).  

					
					
						[**]% of Third Party Fee in excess of the FA Threshold

				

		
			 
		

		
			
		

		
			

		 

		

			-  10  -

		

		

		
			 
		

			
					
						Post-Termination HD Product

					
					
						Third Party Fees in excess of $[**] (the “Initial HD Threshold”) that are owed pursuant to an agreement executed prior to the HD IND Filing.

					
					
						50% of Third Party Fee in excess of the Initial HD Threshold

				
	
					
						Third Party Fees in excess of $[**] (the “Second HD Threshold”) that are owed pursuant to an agreement executed after the HD IND Filing but before first patient dosed in a Clinical Study for HD in the United States, [**] (the “HD End Date”).

					
					
						50% of Third Party Fee in excess of the Second HD Threshold

				

		
			 
		

		
			Voyager shall pay all Sublicense Fees received during each Calendar Quarter within [**] following the expiration of each such Calendar Quarter. All payments shall be accompanied by a report that includes a calculation of all Sublicense Fees payable to Voyager for the applicable Calendar Quarter. For the avoidance of doubt, no Sublicense Fees shall be due with respect to any amounts received (i) from Neurocrine Biosciences, Inc. related to any Post-Termination FA Product, (ii) pursuant to agreements executed after the FA End Date, or (iii) pursuant to agreements executed after the HD End Date.
		

		
			10.6     Royalties Payable to Genzyme.  Voyager shall pay to Genzyme royalties on annual worldwide Net Sales by Voyager and its Related Parties of [**] percent ([**]%) of the worldwide Net Sales of each Post-Termination HD Product until the latest (determined on a Post-Termination HD Product-by-Post-Termination HD Product and country-by-country basis) of (a) the expiration of the last Valid Claim of the Patent Rights included in the license granted by Genzyme to Voyager under Section 4.2(a) or Section 4.2(b) of this Agreement, in each case Covering the Manufacture, use, offer for sale, sale or importation of such Post-Termination HD Product in a country,  (b) the expiration of Regulatory Exclusivity for such Post-Termination HD Product in such country, or (c) the [**] of the First Commercial Sale of such Post-Termination HD Product in such country (the “Post-Termination Royalty Term”).
		

		
			10.7     Third Party Royalty Offsets. Voyager may reduce the amount of royalties payable under Section 10.6 with respect to any Post-Termination HD Product on a country-by-country basis by [**] percent ([**]%) of the amounts payable by Voyager to any Third Party in consideration for a license, granted after the Agreement Date, to any Patent Right which Covers such Post-Termination HD Product in such country; provided, however, that the royalties payable under Section 10.6 with respect to such Post-Termination HD Product on a country-by-country basis shall not be reduced in any such event below [**] percent ([**]%) of the amounts set forth in Section 10.6 by applying the reduction set forth in this Section 10.7; and provided, further, that if any of such amounts cannot be offset against royalties due with respect to such Post-Termination HD Product for any given royalty period due to the preceding proviso, such unused amount may be
		

		
			
		

		
			

		 

		

			-  11  -

		

		

		
			 
		

		
			carried forward and offset against royalties due with respect to such Post-Termination HD Product in future royalty periods.
		

		
			10.8     Royalty Adjustment for No Patent Rights, No Regulatory Exclusivity and Step-Down Products. If, on a country-by-country basis at any time during the Royalty Term, (a) both (i) the Manufacture, use, offer for sale, sale or importation of a Post-Termination HD Product is not Covered by any Valid Claim in the Patent Rights included in the license granted by Genzyme to Voyager under Section 4.2(a) or Section 4.2(b) of this Agreement in such country and (ii) there is no applicable Regulatory Exclusivity in such country for such Post-Termination HD Product or (b) both (i) one or more Third Parties have received Regulatory Approval to sell in such country a Step-Down Product with respect to such Post-Termination HD Product and (ii) Voyager’s Net Sales of such Licensed Product in such country during any four (4) consecutive Calendar Quarters following the date on which such Step-Down Product is first commercially available in such country are less than [**] percent ([**]%) of Voyager’s Net Sales of such Post-Termination HD Product in such country during the four (4) full Calendar Quarters immediately preceding to the date on which such Step-Down Product is first commercially available in such country, then the royalties payable pursuant to Section 10.6 on the Net Sales of such Post-Termination HD Product in such country shall thereafter be reduced to [**] percent ([**]%) of the amounts otherwise payable pursuant to Section 10.6 with respect to such Post-Termination HD Product in such country.
		

		
			10.9     Reports; Payment of Royalty.  During the term of this Agreement, following the First Commercial Sale of any Post-Termination HD Product by or on behalf of Voyager, Voyager shall furnish to Genzyme a written report within [**] after the end of each Calendar Quarter showing, on a Post-Termination HD Product-by-Post-Termination HD Product basis, the Net Sales of each Post-Termination HD Product and the royalties payable under this Agreement with respect to each such Post-Termination HD Product. Royalties shown to have accrued by each royalty report shall be due and payable [**] following the date such royalty report is due.
		

		
			10.10   Audits.
		

		
			(a)  On a Post-Termination HD Product-by-Post-Termination HD Product basis and if (and only if) Voyager executes a sublicense that gives rise to Third Party Fees with respect to a Post-Termination FA Product (excluding any Third Party Fees from Neurocrine Biosciences Inc.) prior to the FA End Date,  a  Post-Termination FA Product-by-Post-Termination FA Product basis, upon the written request of Genzyme and not more than [**],  Voyager and its Related Parties shall permit an independent certified public accounting firm of internationally-recognized standing selected by Genzyme and reasonably acceptable to Voyager, at Genzyme’s expense except as set forth below, to have access during normal business hours to such of the records of the other Party as may be reasonably necessary to verify the accuracy of the royalty and other amounts payable (including Third Party Fees) or reports under this Agreement in respect of such
		

		
			
		

		
			

		 

		

			-  12  -

		

		

		
			 
		

		
			Post-Termination HD Product or Post-Termination FA Product for any year ending not more than [**] prior to the date of such request for the sole purpose of verifying the basis and accuracy of payments made under this in respect of such Post-Termination HD Product or Post-Termination FA Product as applicable. Notwithstanding the foregoing, Genzyme may not make more than [**], provided that a request may cover multiple Post-Termination HD Products and/or Post-Termination FA Products.
		

		
			(b)  If such accounting firm identifies a discrepancy made during such period, Voyager shall pay the other Party the amount of the discrepancy, within [**] after the date Genzyme delivers to Voyager such accounting firm’s written report so concluding, or as otherwise agreed by the Parties in writing. The fees charged by such accounting firm shall be paid by Genzyme, unless such discrepancy represents an underpayment by Voyager of at least [**] percent ([**]%), on a Post-Termination HD Product-by-Post-Termination HD Product basis or Post-Termination FA Product-by- Post-Termination FA Product basis, of the total amounts due in respect of such Post-Termination HD Product or Post-Termination FA Product as applicable in the audited period, in which case such fees shall be paid by Voyager.
		

		
			(c)  Unless an audit for such year has been commenced prior to and is ongoing upon the [**] of the end of such year, the calculation of royalties, expense reimbursement and other payments payable with respect to such year shall be binding and conclusive upon both Parties, and each Party and its Related Parties shall be released from any further liability or accountability with respect to such royalties or expense reimbursement for such year.
		

		
			(d)  Genzyme shall treat all financial information subject to review under this Section 10.10 or under any sublicense agreement in accordance with the confidentiality and non-use provisions of Section 10 of the Collaboration Agreement (Confidentiality and Publication), and shall cause its accounting firm to enter into a confidentiality agreement with Voyager or its Related Parties obligating it to retain all such information in confidence pursuant to such confidentiality agreement, which terms shall be no less stringent than the provisions of Section 10 of the Collaboration Agreement (Confidentiality and Publication).
		

		
			10.11   Payment Exchange Rate. All payments to be made under this Agreement shall be made in United States dollars and shall be paid by bank wire transfer in immediately available funds to such bank account in the United States as may be designated in writing by the receiving Party from time to time. In the case of Net Sales made or expenses incurred by Voyager and its Related Parties in currencies other than United States dollars during a Calendar Quarter, the rate of exchange to be used in computing the amount of United States dollars due shall be the rate of exchange utilized by Voyager in its worldwide accounting system and calculated in accordance with GAAP.
		

		
			10.12   Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due
		

		
			
		

		
			

		 

		

			-  13  -

		

		

		
			 
		

		
			to such Party from the due date until the date of payment at a per-annum rate of [**] percent ([**]%), or the maximum rate allowable by Applicable Law, whichever is less.
		

		
			10.13   Blocked Payments. If, by reason of Laws in any jurisdiction of the world, it becomes impossible or illegal for Voyager to transfer royalties or other payments under this Agreement to Genzyme, Voyager shall promptly notify Genzyme. During any such period described above, Voyager shall deposit such payments in local currency in the relevant jurisdiction to the credit of Genzyme in a recognized banking institution designated by Genzyme or, if none is designated by Genzyme within a period of [**], in a recognized banking institution selected by Voyager and identified in a written notice given to Genzyme.
		

		
			10.14   Taxes. If a timely and appropriately completed and executed Internal Revenue Service Form W-9 is provided by Genzyme to Voyager, the Parties acknowledge and agree that no United States tax withholding shall be applied with respect to any payments due under this Section 10 (Financial Terms). Voyager shall use reasonable efforts to minimize tax withholding on payments made to Genzyme. Notwithstanding such efforts, if Voyager concludes that tax withholdings under the Laws of any country are required with respect to payments to Genzyme, Voyager shall first notify Genzyme and provide Genzyme with [**] to determine whether there are actions Genzyme can undertake to avoid such withholding. During this notice period, Voyager shall refrain from making such payment until Genzyme instructs Voyager that (a) Genzyme intends to take actions (satisfactory to both Parties) that shall obviate the need for such withholding, in which case Voyager shall make such payment only after it is instructed to do so by Genzyme, or (b) Voyager should make such payment and withhold the required amount and pay it to the appropriate Governmental Authority. Notwithstanding the foregoing, if, as a result of (i) a permitted assignment of this Agreement (in whole or in part) by Voyager to an Affiliate or a Third Party outside of the United States or (ii) the exercise by Voyager of its rights under this Agreement (in whole or in part) through an Affiliate or Third Party outside of the United States (or the direct exercise of such rights by an Affiliate of such Party outside of the United States), foreign withholding tax in excess of the foreign withholding tax amount that would have been payable by Voyager in the absence of such assignment or exercise of rights becomes payable with respect to amounts due to Genzyme hereunder or thereunder, such amounts owed by Voyager to Genzyme shall be increased so that the amount actually paid by Voyager to Genzyme equals the amount that would have been payable to Genzyme by Voyager in the absence of such excess withholding (after withholding of the excess withholding tax and any additional withholding tax on such increased amount). However, if a similar assignment or exercise of rights described in (i) or (ii) of the preceding sentence by Genzyme results in foreign withholding tax in excess of the foreign withholding tax amount that would have been payable in the absence of such assignment or exercise of rights to Genzyme, any amount due to Genzyme shall not be increased for such excess withholding and, subject to the terms of this Agreement, the required amount shall be withheld
		

		
			
		

		
			

		 

		

			-  14  -

		

		

		
			 
		

		
			and submitted to the appropriate Governmental Authority. In all cases, whether or not there has been a permitted assignment of this Agreement by Voyager or the exercise by Voyager of its rights under this Agreement through an Affiliate or Third Party, (A) Voyager shall promptly provide Genzyme with copies of receipts or other evidence reasonably required and sufficient to allow Genzyme to document such tax withholdings adequately for purposes of claiming foreign tax credits and similar benefits, (B) the Parties shall cooperate reasonably in completing and filing documents required under the provisions of any applicable tax laws or under any other applicable Law, in connection with the making of any required tax payment or withholding payment, or in connection with any claim to a refund of or credit for any such payment, and (C) the Parties shall cooperate to minimize such taxes in accordance with applicable Laws, including using reasonable efforts to access the benefits of any applicable treaties.
		

		
			10.15   Payment of Back Royalties. If Voyager would owe a royalty payment to Genzyme under this Section 10 (Financial Terms) but for a decision by a court or other governmental agency of competent jurisdiction holding a patent claim unenforceable, unpatentable or invalid and if such decision is later vacated or reversed by a final nonappealable decision by a court or other governmental agency of competent jurisdiction, Genzyme may invoice Voyager for such unpaid royalty payments after such decision is vacated or reversed and Voyager shall make any such unpaid royalty payments to Genzyme within [**] after receipt of such invoice.
		

		
			11.       Confidential Information.  Each Party shall continue to be bound by the obligations of Section 10.1 of the Collaboration Agreement (Nondisclosure Obligation).
		

		
			12.       Termination of Agreement.
		

		
			12.1     Termination for Cause.  This Agreement may be terminated in its entirety at any time upon written notice by either Party if the other Party is in material breach of its obligations hereunder and has not cured such breach within [**] in the case of a payment breach, or within [**] in the case of all other breaches, after notice requesting cure of the breach; provided,  however, that if any breach other than a payment breach is not reasonably curable within [**] and if a Party is making a bona fide effort to cure such breach, such termination shall be delayed for a time period to be agreed by both Parties, not to exceed an additional [**], in order to permit such Party a reasonable period of time to cure such breach.
		

		
			
		

		
			

		 

		

			-  15  -

		

		

		
			 
		

		
			12.2     Effects of Termination.  If this Agreement is terminated by Genzyme under Section 12.1 (Termination for Cause), then all rights and licenses granted to Voyager hereunder shall immediately terminate, and the licenses granted by Voyager to Genzyme under Section  5 shall survive any such termination.  If this Agreement is terminated by Voyager under Section 12.1 (Termination for Cause), then all rights and licenses granted to Genzyme hereunder shall immediately terminate, and the licenses granted by Genzyme to Voyager under Section 4, as well as Voyager’s financial obligations under Section 10 (Financial Terms), shall survive any such termination.
		

		
			13.       Press Release. Voyager shall issue a press release announcing the execution of this Agreement substantially in the form attached hereto as Schedule 13.  Other than the press release referred to in the preceding sentence, neither Party shall issue a press release or public announcement relating to the Agreement or the other Party without the prior written approval of the other Party, which approval shall not be unreasonably withheld, conditioned or delayed, except that a Party may (i) once a press release or other public statement is approved in writing by both Parties, make subsequent public disclosure of the information contained in such press release or other written statement without the further approval of the other Party, and (ii) issue a press release or public announcement as required, in the reasonable judgment of such Party, by Law, including by the rules or regulations of the United States Securities and Exchange Commission, the French Financial Markets Authority, the French Prudential Supervisory Authority or similar regulatory agency in a country other than the United States or France or of any stock exchange or listing entity.
		

		
			14.       Survival of Specified Provisions in the Collaboration Agreement.  Notwithstanding Section 16.4 of the Collaboration Agreement, subject to Section 15 of this Agreement,  only the following sections will survive the termination of the Collaboration Agreement and will remain in full force and effect: 10 (Confidentiality and Publication), 13.4 (Warranty Disclaimer), 14 (Indemnification; Limitation of Liability; Insurance),  15.1 (Inventorship; Ownership), solely with respect to Know-How invented before the Agreement Date (but not 15.1.3 (Employee Assignment) and 15.1.5 (Assignment of CHDI Collaboration Technology)), 15.8 (Common Interest), and 17 (Miscellaneous). Defined terms set out in Article 1 of the Collaboration will survive to the extent they are relevant to the provisions of this Agreement;  provided, that references to “Agreement Product”, “Collaboration Product” and “Licensed Product” used in the defined terms shall be read to mean Post-Termination FA Product, Post-Termination HD Product or Post-Termination SMA Product as the context requires.
		

		
			15.       Active MTAs.  The provisions of the Active MTAs that refer to the Collaboration Agreement shall refer to the relevant provisions of this Agreement or the surviving provisions of the Collaboration Agreement as modified by this Agreement;  provided,  however, that any provision of the Collaboration Agreement that survives as a result of any reference to it in an Active MTA, survives only for purposes of such Active MTA.
		

		
			16.       Entire Agreement.  The Parties acknowledge and agree that the terms and conditions of this Agreement shall govern the termination of the Collaboration Agreement and, in the
		

		
			
		

		
			

		 

		

			-  16  -

		

		

		
			 
		

		
			event of any conflict between the terms of this Agreement and the terms of the Collaboration Agreement or any Active MTA, the terms of this Agreement shall govern.  This Agreement together with the surviving provisions of the Collaboration Agreement, the Active MTAs and any exhibits or attachments thereto constitutes the entire agreement between the Parties regarding the subject matter hereof.
		

		
			17.       Counterparts.  This Agreement may be executed in two or more counterparts, including by facsimile or PDF signature pages, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
		

		
			 
		

		
			[THE REMAINDER OF THIS PAGE HAS BEEN LEFT INTENTIONALLY BLANK]
		

		
			 
		

		
			 
		

		
			

		 

		

			-  17  -

		

		

		
			 
		

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

			
					
						GENZYME CORPORATION

					
					
						     

					
					
						VOYAGER THERAPEUTICS, INC.

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						BY:

					
					
						/s/ Muzammil Mansuri

					
					
						 

					
					
						BY:

					
					
						/s/ G. Andre Turenne

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						NAME:

					
					
						Muzammil Mansuri

					
					
						 

					
					
						NAME:

					
					
						G. Andre Turenne

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						TITLE:

					
					
						Executive Vice President, Strategy 

					
					
						 

					
					
						TITLE:

					
					
						President and Chief Executive Officer

				
	
					
						 

					
					
						And Business Development

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}]]