Document:

Ex10_37

		

			 

		

		
			
		

		
			CONSULTING AGREEMENT
		

		
			 
		

		
			This Consulting Agreement dated as of June 27, 2019 (this “Agreement”) defines the terms upon which Verastem, Inc. (hereinafter referred to as “Verastem”) has agreed to engage the consulting services of Joseph Lobacki (“Consultant”).
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			Consulting Services. Consultant shall provide consulting services to Verastem in the field all as

		
			more particularly described on Exhibit A (the “Engagement”). Robert Gagnon, of Verastem (the “Verastem Contact”), shall coordinate all consulting activities to be performed under this Agreement. Please send all reports and other communications to the Verastem Contact.
		

		
			Verastem may designate a different Verastem Contact by written notice to Consultant.
		

		
			 
		

			
	
			
				 a.
			

			
	
			
			Time Commitment. Consulting services will be provided to Verastem from time to time upon Verastem’s request. Consultant is expected to be available to Verastem personnel by phone, email or facsimile.

		
			 
		

			
	
			
				 1.
			

			
	
			
			Term. This consulting engagement shall commence on June 29, 2019 and shall continue until January 15, 2020, unless extended by mutual written consent or sooner terminated as provided below (the “Consultation Period”). Either party to this Agreement may terminate this consulting engagement upon 30 days prior written notice to the other party, for any reason and without prejudice to any right or remedy Consultant may have due to any failure of the other party to perform Consultant’s obligations under this Agreement. In the event of such termination, Consultant shall be entitled to payment for services performed and expenses paid or incurred prior to the effective date of termination. All obligations under this Agreement, which by their nature are intended to continue beyond the termination of the Consultation Period, shall survive a termination by either or both parties of the Consultation Period.

		
			 
		

			
	
			
				 2.
			

			
	
			
			Compensation.

		
			 
		

			
	
			
				 a.
			

			
	
			
			Consulting Fees. Verastem shall pay Consultant $350.00 per hour for each hour spent, up to a maximum of $220,000 over the term of the Agreement, by the Consultant in the performance of consulting, advisory or related services for Verastem, payable within 45 days of the end of each month upon presentation of a Verastem approved invoice by Consultant fully detailing the time spent and tasks performed by Consultant. Invoices should reference this Agreement and should be submitted to: Accounts Payable, Verastem, Inc., 117 Kendrick Street, Suite 500, Needham, MA 02494 or via email at  ap@verastem.com.

		
			 
		

			
	
			
				 b.
			

			
	
			
			Reimbursement of Expenses. Verastem will pay for any reasonable travel, meals and lodging expenses associated with the performance of consulting services hereunder upon receipt of appropriate and complete documentation on Verastem approved invoice forms. Verastem may also provide or directly pay vendors to provide you with reasonable travel, lodging, and meals when you are providing services hereunder.

		
			 
		

			
	
			
				 3.
			

			
	
			
			Confidential Information; Inventions and Patent Filings.

			
	
			
				 a.
			

			
	
			
			Confidential Information. Consultant acknowledges that Consultant’s relationship with Verastem is one of high trust and confidence and that in the course of Consultant’s service to Verastem Consultant will have access to and contact with Confidential Information (as  defined below). Consultant will not, during the Consultation Period or at any time within two years thereafter, disclose to others (including other third parties already under an obligation of 

		 

		

			1

		

	confidentiality to Verastem), or use for Consultant’s benefit or the benefit of others, any Confidential Information or Invention (as defined below). Without limiting the foregoing, you agree that you shall not trade any securities of Verastem based upon any confidential information learned pursuant hereto.

			
	
			
				I.
			

			
	
			
			For purposes of this Agreement, Confidential Information shall mean all information (whether or not patentable or copyrightable) owned, possessed or used by Verastem, including, without limitation, any Invention, formula, trade secret, process, prototype, device, equipment, research, report, technical data, know-how, technology and marketing or business plan, that is communicated to, learned of, developed or otherwise acquired by Consultant in the course of performing consulting services for Verastem hereunder.

		
			 
		

			
	
			
				II.
			

			
	
			
			Consultant’s obligations under this Section shall not apply to any information that Consultant demonstrates (i) is or becomes known to the general public under circumstances involving no breach by Consultant or others of the terms of this Section, or (ii) is in the Consultant’s possession at the time of disclosure otherwise than as a result of a prior disclosure by Verastem to Consultant or by a third party to Consultant where that third party is or was under an obligation of confidentiality with respect thereto. In addition, Consultant will not be liable to Verastem for trade secret misappropriation if Consultant discloses a trade secret (a) in confidence to a federal, state, or local government official, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law and (b) in any document filed under seal in a lawsuit or other proceeding.

		
			 
		

			
	
			
				III.
			

			
	
			
			Consultant represents that Consultant’s engagement as a consultant with Verastem and performance under this Agreement does not, and shall not, breach any agreement that obligates Consultant to keep in confidence any trade secrets or confidential or proprietary information of Consultant or of any other party or to refrain from competing, directly or indirectly, with the business of any other party. Consultant shall not disclose to Verastem any trade secrets or confidential or proprietary information of any other party.

		
			 
		

			
	
			
				 b.
			

			
	
			
			Inventions. All inventions, discoveries, data, technology, designs, innovations and improvements related to the Engagement or business of Verastem (including without limitation all inventions and improvements relating to Verastem prototypes or products) which are made, conceived or reduced to practice by Consultant, solely or jointly with others, during the Consultation Period shall be the sole property of Verastem. In addition, all inventions, discoveries, data, technology, designs, innovations and improvements which are made, conceived or reduced to practice by Consultant, solely or jointly with others, during the Consultation Period or thereafter, shall be the sole property of Verastem, if resulting or derived from Confidential Information (the inventions referenced in the first two sentences being hereinafter referred to as "Inventions"). Consultant hereby assigns to Verastem all rights Consultant has in Inventions and any and all related patents, copyrights, trademarks, trade names, and other industrial and intellectual property rights and applications therefor, in the United States and elsewhere and appoints any officer of Verastem as Consultant’s duly authorized attorney to execute, file, prosecute and protect the same before any government agency, court or authority. Upon the request of Verastem and at Verastem's expense, Consultant shall execute such further assignments, documents and other instruments as may be necessary or desirable to fully and completely assign all Inventions to Verastem and to assist Verastem in applying for, obtaining and enforcing patents or copyrights or other rights in the United States and in any foreign country with respect to any Invention. Consultant shall promptly disclose all relevant Inventions to Verastem in writing.

		
			 
		

		
			

		 

		

			2

		

		

		
			 
		

			
	
			
				 c.
			

			
	
			
			Patent Filings. In order to preserve Verastem’s rights under this Agreement, during the Consultation Period and for two (2) years thereafter, Consultant shall submit to Verastem for review, on a confidential basis, any relevant patent applications naming Consultant or its agents, employees or representatives as an inventor, either alone or with others, which Consultant or any third party intends to file with any U.S. or international patent offices. Such applications must be submitted to Verastem at least 30 days in advance of any filing with a U.S. or international patent office. If Verastem determines in good faith, within this 30-day period, that the filing of such an application would be contrary to its intellectual property rights under this agreement, Consultant will amend the proposed patent application to remove any language that is determined by Verastem to be contrary to its intellectual property rights.

		
			 
		

			
	
			
				 d.
			

			
	
			
			Third Party Information. Consultant understands that Verastem has received and in the future will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on Verastem’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. During Consultation Period and thereafter, Consultant will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than Verastem personnel who need to know such information in connection with their work for Verastem) or use, except in connection with Consultant’s work for Verastem, Third Party Information unless expressly authorized by an officer of Verastem in writing.

		
			 
		

			
	
			
				 e.
			

			
	
			
			No Improper Use of Information of Prior Employers and Others. During the Consultation Period, Consultant will not improperly use or disclose any confidential information or trade secrets, if any, of any former employer or any other person or entity to whom Consultant has an obligation of confidentiality, and Consultant will not bring onto the premises of Verastem any unpublished documents or any property belonging to any former employer or any other person or entity to whom Consultant has an obligation of confidentiality unless consented to in writing by that former employer or person. Consultant will use, in the performance of Consultant’s duties only, information which is generally known and used by persons with training and experience comparable to Consultant’s own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by Verastem.

		
			 
		

			
	
			
				 4.
			

			
	
			
			Company Property. All materials and property provided to Consultant (including all samples, equipment, prototypes, devices, reports, communications, drawings, notes, and analyses), or produced by Consultant, in connection with the performance of services under this Agreement shall be the exclusive property of Verastem. Consultant will keep in Consultant’s custody and control any such materials or property that Consultant receives or develops, and will return the same to Verastem upon the termination of the Consultation Period or at Verastem’s request. Consultant agrees to treat such materials and property with at least the same degree of confidentiality and care that it keeps Consultant’s own materials and property. No materials containing proprietary information may be thrown in the trash unless the same are shredded.

		
			 
		

			
	
			
				 5.
			

			
	
			
			Use of Name. Verastem may identify Consultant to third parties and in written literature as a consultant to Verastem.

		
			 
		

		
			 
		

		
			 
		

		
			
		

		
			

		 

		

			3

		

		

			
	
			
				 6.
			

			
	
			
			Independent Contractor Status. Consultant shall perform all services under this Agreement as an “independent contractor” and not as an employee or agent of Verastem. Consultant is not authorized to assume or create any obligation or responsibility, express or implied, on behalf of, or in the name of, Verastem or to bind Verastem in any manner.

		
			 
		

			
	
			
				 7.
			

			
	
			
			Representations and Warranties. Consultant represents and warrants that Consultant has no duty or obligation to any third party with respect to the Engagement. Consultant further represents and warrants that the services covered by this Agreement are not in violation of any other agreement or obligation by which Consultant is bound.

		
			 
		

			
	
			
				 8.
			

			
	
			
			Release and Indemnification. In no event shall Consultant be liable to the Company or any other party, whether a claim be in tort, contract or otherwise, for any consequential, indirect, lost profit or similar damages relating the services provided under this Agreement.

		
			 
		

			
	
			
				 9.
			

			
	
			
			Notice. All notices required or permitted under this Agreement shall be in writing and shall be deemed effective upon personal delivery or upon deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed:

		
			 
		

		
			If to Verastem:
		

		
			Verastem, Inc.
		

		
			117 Kendrick Street, Suite 500
		

		
			Needham, MA 02494
		

		
			 
		

		
			Attn: Verastem Contact,
		

		
			With a copy to Verastem General Counsel
		

		
			 
		

		
			If to Consultant:
		

		
			Joseph Lobacki
		

		
			55 Commercial Wharf, Unit 8
		

		
			Boston, MA 02110
		

		
			 
		

			
	
			
				 10.
			

			
	
			
			Miscellaneous. This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement. This Agreement may be amended or modified only by a written instrument executed by both Verastem and the Consultant. This Agreement shall be construed, interpreted and enforced in accordance with the laws of the Commonwealth of Massachusetts. This Agreement shall be binding upon, and inure to the benefit of, both parties and their respective successors and assigns, including any corporation with which, or into which, Verastem may be merged or which may succeed to its assets or business, provided, however, that the obligations of the Consultant are personal and shall not be assigned by Consultant. If any of the provisions of this Agreement is found to be unenforceable or prohibited by any applicable law, such provision shall be ineffective only to the extent of such unenforceability or prohibition without invalidating the remainder of such provision or the remaining provisions of this Agreement.

		
			 
		

		
			 
		

		
			***Rest of page left blank intentionally***
		

		
			 
		

		
			

		 

		

			4

		

		

		
			IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year set forth above.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						VERASTEM, INC.

					
					
						CONSULTANT

				
	
					
						 

					
					
						 

				
	
					
						By:   /s/ Peter Pellegrino

					
					
						By:   /s/ Joseph Lobacki

				
	
					
						Name:   Peter Pellegrino

					
					
						Name:   Joseph Lobacki

				
	
					
						Title:   Vice President, Corporate Controller & Treasurer

					
						                    duly authorized

					
					
						Title: 

					
						 

					
						                    duly authorized

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			

		 

		

			5

		

		

		
			Exhibit  A
		

		
			 
		

		
			 
		

		
			Consultant will provide ad hoc projects related to the commercialization of COPIKTRA, as may be requested from time to time by the Company and under the direction of the Company’s management.
		

		 

		

			6Exhibit

 

Exhibit 10.1
BRANDYWINE REALTY TRUST
AMENDED AND RESTATED 1997 LONG-TERM INCENTIVE PLAN
RESTRICTED PERFORMANCE SHARE UNIT AND DIVIDEND EQUIVALENT RIGHTS
AWARD AGREEMENT
ISSUED PURSUANT TO THE
2020-2022 RESTRICTED PERFORMANCE SHARE UNIT PROGRAM
This RESTRICTED PERFORMANCE SHARE UNIT AND DIVIDEND EQUIVALENT RIGHTS AWARD AGREEMENT (the “Award Agreement”), dated as of February __, 2020 is between Brandywine Realty Trust, a Maryland real estate investment trust (the “Trust”), and ______________ (the “Grantee”).
WHEREAS, the Trust’s Compensation Committee (the “Committee”) established the Brandywine Realty Trust 2020-2022 Restricted Performance Share Unit Program (the “Program”) under the Brandywine Realty Trust Amended and Restated 1997 Long-Term Incentive Plan (the “Plan”);
WHEREAS, the Plan provides for the award of “Performance Shares” (as defined in the Plan) (which award is referred to as a “Restricted Performance Share Unit” or an “RSU” in the Program and herein) to participants following the attainment of a designated corporate performance goal;
WHEREAS, the Program treats dividend equivalent rights (“DERs” as defined the Program) as additional Performance Shares;
WHEREAS, the Program designates a performance goal that determines if and the extent to which Shares will become deliverable to a participant in the Program based on his or her Restricted Performance Share Units;
WHEREAS, the Grantee may defer delivery of his or her Shares (if deliverable) until a later date and, if so deferred, the Grantee will be awarded additional DERs with respect to such Shares; and
WHEREAS, DERs awarded with respect to Restricted Performance Share Units and deferred Shares will be expressed as a dollar amount, which will be applied to “purchase” additional Restricted Performance Share Units and notional shares of the Trust, as applicable (on which DERs will also be awarded), and will be settled in actual shares of the Trust (and in cash to the extent the Grantee’s account holds a fractional Restricted Performance Share Unit or notional share).
NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the legal sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
1.Potential Award of Shares
(a)The Grantee is hereby awarded a number of initial “Base Units” (as defined in the Program) equal to ________ Restricted Performance Share Units.  The Grantee’s Base Units will increase in number pursuant to the “purchase” of additional Restricted Performance Share Units with DERs, as described in subsections (b) and (d) below.
(b)The Grantee is hereby awarded a DER with respect to each of his or her Base Units, as such number of units may be increased from time to time pursuant to subsection (d) below.  If the Grantee makes a 

 

deferral election under Section 6 of the Program, the Grantee shall also be awarded DERs with respect to each deferred Share.
(c)The Trust hereby promises to deliver to the Grantee the number of Shares that Grantee becomes entitled to under Section 5 of the Program (if any).  Unless the Grantee elects to make a deferral election pursuant to Section 6 of the Program (in which case Shares will be delivered in accordance with such election), the Shares shall be delivered on (i) February 1, 2023 or (ii) in the event of a “Change of Control” (as defined in the Program) prior to January 1, 2023, on the fifth calendar day after the end of the “Measurement Period” (as defined in the Program) or (iii) in the event of a separation from service covered in Section 9(a) of the Program (relating to death, Disability or Retirement), on or before the thirtieth day after Grantee’s separation from service (as applicable, the “Delivery Date”).  This Award Agreement is in all respects limited and conditioned as hereinafter provided, and is subject in all respects to the terms and conditions of the Program and the Plan now in effect and as they may be amended from time to time; provided, that no amendment may adversely affect an issued Award Agreement without the written consent of the affected Grantee.  The terms and conditions of the Program and the Plan are incorporated herein by reference, made a part hereof, and shall control in the event of any conflict with any other terms of the Award Agreement.
(d)DERs awarded with respect to Restricted Performance Share Units will be expressed as a specific dollar amount equal in value to the amount of dividends paid on an actual Share on a specific date (the “Dividend Date”) during the Measurement Period, multiplied by the Grantee’s Base Units as of the Dividend Date.  The dollar amount will be applied to “purchase” full and fractional Restricted Performance Share Units at “Share Value” (as defined in the Program), which will be subject to Section 5 of the Program, and on which DERs thereafter will also be awarded.  The Grantee’s additional Restricted Performance Share Units will be replaced by issued Shares (and by cash, to the extent the Grantee holds a fractional Restricted Performance Share Unit) and delivered to the Grantee (if at all) in accordance with the Program.
DERs awarded with respect to deferred Shares will also be expressed as a specific dollar amount equal in value to the amount of dividends paid on an actual Share on a Dividend Date during the deferral period, multiplied by the number of Shares still deferred by the Grantee as of the Dividend Date.  The Committee will apply the dollar amount to “purchase” full and fractional notional shares at the closing price on the Dividend Date, on which DERs thereafter will also be awarded.  The Grantee’s notional shares will be recorded in a bookkeeping account, and will be 100% vested.  The Grantee’s notional shares will be replaced by issued Shares (and by cash, to the extent the Grantee holds a fractional notional share) and delivered to the Grantee in accordance with Section 4 of the Program.
2.Share Certificates.  Certificates for Shares delivered pursuant to the Program shall be registered in the Grantee’s name (or, if the Grantee so requests, in the name of the Grantee and the Grantee’s spouse, jointly with right of survivorship).
3.Transferability.  Except as provided in Section 7 of the Program (regarding beneficiary designations), the Grantee may not assign or transfer his or her Restricted Performance Share Units, notional Shares or any interest therein.
4.Withholding of Taxes.  The obligation of the Trust to deliver Shares shall be subject to applicable federal, state and local tax withholding requirements.  If the amount includible in the Grantee’s income as a result of the delivery of Shares is subject to the withholding requirements of applicable tax law, the Trust will cancel a number of Shares otherwise issuable hereunder having an aggregate Fair Market Value on the Delivery Date equal to the required tax withholdings.  Notwithstanding the foregoing, the Trust may limit the number of Shares withheld to the extent necessary to avoid adverse accounting consequences.
5.Share Ownership Requirements.  For purposes of the share ownership requirements of the Trust’s governance guidelines, the Shares issued to the Grantee under the Program shall be treated as though they were restricted shares that became vested upon issuance.  However, any share ownership requirement that results from this provision shall immediately lapse upon the Grantee’s termination of employment with the Employer.
6.Clawback.  Notwithstanding anything to the contrary contained herein, Grantee agrees that this Award will be subject to the terms of any current or future clawback or recapture policy adopted by the Company and any current or future law, regulation or stock exchange listing requirement regarding the clawback or recapture of compensation.

-2-

 

7.Governing Law.  This Award Agreement shall be construed in accordance with, and its interpretation shall be governed by, applicable federal law and otherwise by the laws of the State of Maryland (without reference to the principles of the conflict of laws).
IN WITNESS WHEREOF, the Trust has caused this Award Agreement to be duly executed by its duly authorized officer and the Grantee has hereunto set his or her hand all as of the day and year first above written.
BRANDYWINE REALTY TRUST
By:    _________________________________
Name:    
Title:    

GRANTEE
_________________________________________

-3-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]