Document:

Exhibit 10.29

 

	

    	
One Kendall Square

Suite 169

Cambridge, Massachusetts 02139

USA

 
    

 

2 June 2008

 

Lloyd P. M. Johnston, Ph. D.

[***]

 

Dear Lloyd:

 

On behalf of everyone connected with Selecta, it is my distinct pleasure to offer you the position of Vice President, Pharmaceutical Research and Development of Selecta Biosciences, Inc. This position reports to me, the Chief Executive Officer.

 

You, as a key member of the senior management team, will be responsible for all aspects of our pharmaceutical product and process development activities. I would expect you to develop and implement a plan for translating our technologies into viable product candidates that we can take forward into and through clinical testing all the way to commercialization. You will be responsible for creating and building an organization staffed appropriately with top talent capable of achieving our goals and objectives on time and within budget. I would also ask you to establish and manage our facilities and administrative operations. You will also be expected to participate and, as appropriate, help coordinate activities and meetings of our Scientific Advisory Board. I would also ask you to help me from time to time in business development and alliance management activities. Finally, I would ask you to participate with the Board of Directors and me in setting the strategic course of the company.

 

	
Salary:
    	
 
    	
$230,000 per year rate, paid semi-monthly
    
	
 
    	
 
    	
 
    
	
Initial Stock Option   Grant:
    	
 
    	
Subject to approval by the Board of Directors and in   accordance with the Company’s 2008 Stock Incentive Plan (the “Plan”),   you will be granted an Incentive Stock Option to purchase 110,000 shares of   Common Stock. This option will vest over four years of continued employment   as follows: 25% will vest 12 months after the grant date, and the remainder   will vest monthly (2.0833% per month) over the ensuing 36 months, provided,   however, that 100% of any unvested shares shall become vested in the event   that you are directly or constructively terminated without Cause (as defined   in the Plan) within 6 months after a Change of Control Transaction (as   defined in the Plan).
    
	
 
    	
 
    	
 
    
	
Series B Stock   Option Grant:
    	
 
    	
After the closing of our next significant equity   financing (i.e., Series B), the Company will grant you an option to   purchase additional shares of Common Stock to bring your position to   approximately 1% of our fully diluted shares then outstanding. This   additional option shall be subject to vesting from the date of grant on the   same terms as the initial option as described above.
    
	
 
    	
 
    	
 
    
	
Health Care Benefits:
    	
 
    	
The Company will provide health and dental insurance   for you and your family consistent with the practices of other   venture-capital-backed biotech companies in the Boston area.
    
	
 
    	
 
    	
 
    
	
Life Insurance:
    	
 
    	
Subject to your satisfaction of eligibility   requirements, the Company will obtain a term life insurance policy for you in   the coverage amount of $230,000 and pay the premiums on such policy while you   are an employee.
    
	
 
    	
 
    	
 
    
	
401(k) Plan:
    	
 
    	
A Company 401 (k) plan will be established by   November 30, 2008. You will be eligible to participate in the Company   plan.
    
	
 
    	
 
    	
 
    
	
Vacation:
    	
 
    	
You will be entitled to 15 days of vacation per   year. You will earn one additional day of vacation for each year of service   to Selecta up to a maximum
    

 

 

	
 
    	
 
    	
of 20 days per year.
    
	
 
    	
 
    	
 
    
	
Paid Holidays:
    	
 
    	
The Company will institute a paid holiday schedule   consistent with norms of other venture-capital-backed biotech companies in   the Boston area.
    
	
 
    	
 
    	
 
    
	
Paternity Leave:
    	
 
    	
In addition to holidays and vacation, you will be   entitled to up to 10 days of paid paternity leave per calendar year.
    
	
 
    	
 
    	
 
    
	
Start Date:
    	
 
    	
June, 2008, or later by mutual agreement.
    
	
 
    	
 
    	
 
    
	
Nondisclosure, Noncompetition   and Assignment of IP Agreement:
    	
 
    	
As a condition of your at will employment, you will   be required to sign the attached Nondisclosure, Noncompetition and Assignment   of Intellectual Property Agreement (“Employee NDA”).
    

 

Lloyd, I am really excited by the prospect of you joining Selecta. Together, I think we can make a difference ultimately in improving the health and welfare of patients worldwide (and have some fun doing it!). I look forward to the opportunity to work with you and to learn with you.

 

To indicate your acceptance of Selecta’s offer, please sign and date this letter and the Employee NDA and return the signed originals to me. Duplicate originals signed by me are provided for your records. This letter, along with the Employee NDA, sets forth the terms of your employment with the Company and supersedes any other representations or agreements, whether written or oral. This letter shall be governed by the laws of the Commonwealth of Massachusetts and may not be modified or amended except by a written agreement, signed by the Company and by you.

 

	
Welcome aboard!
    	
 
    
	
 
    	
 
    
	
Sincerely,
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
/s/ Robert L.   Bratzler
    	
 
    
	
Selecta   Biosciences
    	
 
    
	
Robert L.   Bratzler, Ph. D.
    	
 
    
	
Chairman and CEO
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Agreed and   accepted,
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
/s/ Lloyd P. M. Johnston
    	
 
    
	
Lloyd P. M.   Johnston, Ph. D.
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
June 17,   2008
    	
 
    
	
DateExhibit 10.30

 

 

April 4, 2011

 

David Abraham

[***]

 

Dear David:

 

It is with great pleasure that I offer you employment with Selecta Biosciences, Inc. Your position will be General Counsel and Corporate Secretary. Your effective date of hire as a regular, full-time employee will be 16 August, 2011 (the “Start Date”).

 

You will be paid on a salary basis at an annual rate of $240,000 to be paid semi-monthly in accordance with Selecta’s payroll schedule. Further, it is our intention to recommend to the Board of Directors that you be granted an incentive stock option to purchase 230,000 shares of Selecta’s common stock, $0.0001 par value per share, at an exercise price equal to the fair market value per share on the date of grant. . Such option will vest (i.e., become exercisable) at a rate of 25% on the first anniversary of the date of grant, and an additional 2.0833% each month thereafter.

 

We also will pay you sign-on cash bonuses equal to $25,000 in 2011; $12,500 in 2012; and $7,500 in 2013. The first of these bonuses will be paid promptly after you countersign and return this letter to the Selecta, and each subsequent bonus will be paid on the first payroll date of 2012 and 2013, as applicable. Any such bonuses will be contingent upon your continued service to Selecta at the time of the scheduled payments.

 

In addition, Selecta will reimburse you for up to $50,000 in reasonable expenses paid in connection with changing your residence from Menlo Park to a city or town within 40 miles of Watertown, Massachusetts, as long as you complete such change of residence on or before November 1, 2011. Your entitlement to such relocation reimbursement will be subject to your delivery to Selecta of receipts or other reasonable documentation of your moving and relocation expenses. You will receive relocation reimbursement for relocation expenses incurred through December 31, 2011. By signing below, you agree that if you terminate your employment with Selecta for any reason within two years after the Start Date, then you will promptly refund to Selecta a portion of the relocation reimbursements you have received that is proportionate to the segment of such two-year period that remains after the effective date of such termination.

 

As a regular, full-time employee you are eligible to participate in the employee benefit plans which Selecta offers to its employees, including the current employee vacation policy. Descriptions of the benefit plans currently being offered are available upon request. These plans may, from time to time, be amended or terminated with or without prior notice.

 

480 Arsenal Street, Building One · Watertown, MA 02472 USA · tel: +1.617.923.1400 · fax: +1.617.924.3454    www.selectabio.com

 

 

Your employment at all times will be at will, meaning that you are not being offered employment for a definite period and that either you or Selecta may terminate the employment relationship at any time for any reason.

 

As a condition of your at-will employment, you will be required to sign the attached Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement. In addition, the Immigration Reform and Control Act requires employers to verify employment eligibility and identity of new employees. On your first day of employment, you must provide us with appropriate documents to establish your eligibility to work in the United States (e.g., Social Security Card, Driver’s License, US Passport). We will not be able to employ you if you fail to comply with this requirement.

 

Selecta maintains a smoke-free, drug-free workplace policy and supports equal employment opportunities for all of its employees.

 

By accepting this offer below, you represent that you are subject to no agreements which might restrict your conduct at Selecta; and that you understand that if you become aware at any time during your employment with Selecta that you are subject to any agreements which might restrict your conduct at Selecta, you are required to immediately inform Selecta of the existence of such agreements or your employment by Selecta shall be subject to immediate termination. Selecta understands that you are a participant in or advisor to certain startup companies, but that these relationships do not restrict your conduct at Selecta. You also acknowledge that, as of the Start Date, your company, Innovation Legal Group (“ILG”) will not be entitled to any further cash payments under the consulting agreement between Selecta and ILG dated as of February 2, 2009, as amended May 1, 2009 (the “ILG Agreement”), unless Selecta expressly requests the services of ILG in writing. A separate ILG services agreement will be executed in writing together with this offer letter. Further, you will be eligible for a bonus program, should such a program be instituted for senior executives of Selecta.

 

This offer will expire at 5:00 p.m. on 20 April, 2011. Please indicate your acceptance of this offer by signing and returning to me this letter and the attached Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement.

 

David, I am looking forward to having you officially join the Selecta team as a full-time employee!

 

	
 
    	
 
    	
Sincerely,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
SELECTA   BIOSCIENCES, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/ Werner Cautreels
    
	
 
    	
 
    	
Werner Cautreels
    
	
 
    	
 
    	
Chief Executive   Officer
    
	
 
    	
 
    	
 
    	
 
    
	
Accepted by:
    	
/s/ David   Abraham
    	
 
    	
 
    
	
 
    	
7 April 2011
    	
 
    	
 
    

 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00258-of-00352.parquet"}]]