Document:

imra-ex1018_707.htm

 

		
	
 
	
Exhibit 10.18

	
 
	
 

	

	
IMARA Inc.

	
116 Huntington Avenue, 6th Floor

	
Boston, MA 02116 USA

	
 

	
Info@Imaratx.com

	
 
	
+1 617 202-2020

	
 
	
 

	
 
	
www.imaratx.com

 

November 5, 2021

 

Kenneth M. Attie, MD

 

Dear Ken,

 

You are a key member of the senior management team of Imara Inc. (the “Company”).  As a result, the Company would like to amend that certain letter agreement (the “Letter Agreement”), dated December 4, 2020, setting forth the terms of your employment with the Company.

 

This first amendment (the “First Amendment”) to the Letter Agreement, is effective as of the date set forth above (the “Amendment Effective Date”) and shall update the terms of your employment with the Company as set forth below.

 

	
 
	
1.
	
Defined Terms.  Capitalized terms not otherwise defined herein shall have the meaning ascribed to such term in the Letter Agreement.  

 

	
 
	
2.
	
Termination of Employment. Section 6(b) of the Letter Agreement is hereby amended and restated in its entirety to read as follows:

 

“(b)(I) If you experience a Qualifying Termination and such Qualifying Termination does not occur within 12 months after a Change of Control, you will receive the Accrued Benefits, and, based upon satisfaction of the criteria in Section 6(d) below, including without limitation your execution and delivery of the separation and release agreement described therein and the lapse of any applicable revocation period without the release being revoked, you shall be eligible to receive the following severance benefits: (i) continuation of your base salary in effect as of the Termination Date for a period of nine (9) months, less standard deductions, payable in accordance with the Company’s then regular pay policies commencing on or before the sixtieth (60th) day following the Termination Date (“Severance Pay”), provided, that the first such payment shall include any amounts that would have been paid to you hereunder had the release become effective upon the Termination Date; and (ii) following the Termination Date, if you are eligible for and elect to continue your health insurance coverage pursuant to your rights under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or any state equivalent (“COBRA”), then the Company shall reimburse you for your premiums under COBRA on a monthly basis until the earlier of (x) nine (9) months following the Termination Date, or (y) the date upon which you commence full-time employment (or employment that provides you with eligibility for healthcare benefits substantially comparable to those provided by the Company) with an entity other than the Company.  Notwithstanding any of the foregoing, (i) if the 60-day period following the Termination Date would end in a calendar year subsequent to the year in which the Termination Date occurs, the payments 

Advancing New Sickle Cell Therapies

under this Section 6(b) will not be paid or commence before the first payroll of the subsequent calendar year; and (ii) any Severance Pay received in any calendar year shall be reduced by the amount of Garden Leave Pay you receive in the same such calendar year under, and as defined in, the Restrictive Covenants Agreement; provided that in no event shall the Severance Pay be reduced below $1000.

 

(II) If you experience a Qualifying Termination and such Qualifying Termination occurs within 12 months after a Change of Control, you will receive the Accrued Benefits, and, based upon satisfaction of the criteria in Section 6(d) below, including without limitation your execution and delivery of the separation and release agreement described therein and the lapse of any applicable revocation period without the release being revoked, you shall be eligible to receive the following severance benefits: (i) continuation of your base salary in effect as of the Termination Date for a period of twelve (12) months, less standard deductions, payable in accordance with the Company’s then regular pay policies commencing on or before the sixtieth (60th) day following the Termination Date (“COC Base Salary Severance”), provided, that the first such payment shall include any amounts that would have been paid to you hereunder had the release become effective upon the Termination Date, (ii) one hundred percent (100%) of your annual bonus target amount for the year in which the Termination Date occurred in a lump sum on the date the first installment of COC Base Salary Severance is paid (“COC Bonus Severance”) and (iii) following the Termination Date, if you are eligible for and elect to continue your health insurance coverage pursuant to your rights under COBRA, then the Company shall reimburse you for your premiums under COBRA on a monthly basis until the earlier of (x) twelve (12) months following the Termination Date, or (y) the date upon which you commence full-time employment (or employment that provides you with eligibility for healthcare benefits substantially comparable to those provided by the Company) with an entity other than the Company. Notwithstanding any of the foregoing, (i) if the 60-day period following the Termination Date would end in a calendar year subsequent to the year in which the Termination Date occurs, the payments under the prior sentence will not be paid or commence before the first payroll of the subsequent calendar year and  (ii) any COC Base Salary Severance and COC Bonus Severance received in any calendar year shall be reduced by the amount of Garden Leave Pay you receive in the same such calendar year under, and as defined in, the Restrictive Covenants Agreement, provided that in no event shall the aggregate COC Base Salary Severance and COC Bonus Severance be reduced below $1000.”

 

	
 
	
3.
	
No Other Amendments. Except as amended by this First Amendment, the Letter Agreement remains unaltered and all other terms of the Letter Agreement shall remain in full force and effect.

 

	
 
	
4.
	
Counterparts.  This First Amendment may be executed in any number of counterparts, each of which shall be deemed an original and all of which taken together shall be deemed to constitute one and the same instrument.  An executed signature page of this First Amendment delivered by facsimile transmission (with transmission confirmed) or in .pdf format via e-mail shall be as effective as an original executed signature page.

2

 

Please accept all of the terms as set forth herein by signing and returning this First Amendment.

 

			
	
Sincerely,

	
 

	
IMARA INC.

	
 
	
 
	
 

	
 
	
 
	
 

	
By:
	
 
	
/s/ Rahul D. Ballal, Ph.D.

	
Name:
	
 
	
Rahul D. Ballal, Ph.D.

	
Title:
	
 
	
President and CEO

 

 

			
	
AGREED:

	
 
	
 
	
 

	
 
	
 
	
 

	
By:
	
 
	
/s/ Kenneth M. Attie, MD

	
Name:
	
 
	
Kenneth M. Attie, MD

 

3EX-10.2

 Exhibit 10.2 

SECOND AMENDMENT TO 

SALE AND SERVICING AGREEMENT 

This Second Amendment to Sale and Servicing Agreement, dated as of March 15, 2022 (this “Amendment”), is by and among
Santander Drive Auto Receivables LLC, as seller (the “Seller”), and Santander Consumer USA Inc. (“SC”), as servicer (in such capacity, the “Servicer”). 

WHEREAS, Drive Auto Receivables Trust 2018-3, as issuer (the “Issuer”), the Seller,
the Servicer, and Wilmington Trust, National Association, as indenture trustee (the “Indenture Trustee”) are parties to that certain Sale and Servicing Agreement, dated as of July 24, 2018 (as amended, supplemented and modified
from time to time, the “Sale and Servicing Agreement”); 
 WHEREAS, the Seller and the Servicer desire to amend the Sale
and Servicing Agreement as set forth herein; 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows: 
 SECTION 1. Definitions. Capitalized terms used in this Amendment and
not otherwise defined herein shall have the meanings assigned thereto in the Sale and Servicing Agreement, as amended hereby. 
 SECTION 2.
Amendments. Effective as of March 15, 2022, the Sale and Servicing Agreement is hereby amended as follows: 
 (a) The second
sentence of Section 4.2 is hereby amended and restated in full to read as follows: 
 “The “Monthly
Remittance Condition” shall be deemed to be satisfied if (i) Santander Consumer or one of its Affiliates is the Servicer, (ii) no Event of Default or Servicer Replacement Event has occurred and is continuing, (iii) Santander
Holdings USA, Inc. has a long term unsecured debt rating of at least “Baa3” from Moody’s, (iv) Santander Consumer has not received notification from S&P within the last 30 days that Santander Consumer no longer meets
S&P’s creditworthiness requirements for making monthly remittances and (v) Santander Consumer is a direct or indirect subsidiary of Banco Santander, S.A. Notwithstanding the foregoing, the Servicer may remit Collections to the
Collection Account on any other alternate remittance schedule (but not later than the Business Day prior to the related Payment Date) if the Rating Agency Condition is satisfied with respect to such alternate remittance schedule.” 

  

					
		 		  	DRIVE 2018-3: Amendment to
Sale and Servicing Agreement

 SECTION 3. Miscellaneous. The Sale and Servicing Agreement, as amended hereby, remains in
full force and effect. Any reference to the Sale and Servicing Agreement from and after the date hereof shall be deemed to refer to the Sale and Servicing Agreement as amended hereby, unless otherwise expressly stated. This Amendment shall be valid,
binding, and enforceable against a party only when executed by an authorized individual on behalf of the party by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National Commerce Act,
state enactments of the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, in each case to the extent applicable; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual
signature. Each electronic signature or faxed, scanned, or photocopied manual signature shall for all purposes have the same validity, legal effect, and admissibility in evidence as an original manual signature. Each party hereto shall be entitled
to conclusively rely upon, and shall have no liability with respect to, any electronic signature or faxed, scanned, or photocopied manual signature of any other party and shall have no duty to investigate, confirm or otherwise verify the validity or
authenticity thereof. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument. Notwithstanding the foregoing, with
respect to any notice provided for in this Amendment or any instrument required or permitted to be delivered hereunder, any party hereto receiving or relying upon such notice or instrument shall be entitled to request execution thereof by original
manual signature as a condition to the effectiveness thereof. This Amendment shall be governed by and construed in accordance with the internal, substantive laws of the State of New York without reference to the rules thereof relating to
conflicts of law, other than Sections 5-1401 and 5-1402 of the New York General Obligations Law, and the obligations, rights and remedies of the parties hereunder shall
be determined in accordance with such laws. 
 [Signatures follow] 

  

					
		 	2	  	DRIVE 2018-3: Amendment to
Sale and Servicing Agreement

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written. 
  

			
	SANTANDER DRIVE AUTO RECEIVABLES LLC, as Seller
		
	By:	 	 /s/ Mark McCastlain

	Name: Mark McCastlain
	Title: Vice President
	
	SANTANDER CONSUMER USA INC., as Servicer
		
	By:	 	 /s/ Corey Henry

	Name: Corey Henry
	Title: Vice President

  

					
		 	S-1	  	DRIVE 2018-3: Amendment to
Sale and Servicing Agreement

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