Document:

myok-ex101_145.htm

Execution Version

Exhibit 10.1

TERMINATION AGREEMENT

This TERMINATION AGREEMENT (“Agreement”) dated as of JULY 17,2019 (the “Effective Date”), is made and entered into by and between MYOKARDIA, INC., a Delaware corporation having an address at 333 Allerton Avenue, South San Francisco, CA 94080, (“MyoKardia”) and AVENTIS, INC., a Pennsylvania corporation (“Sanofi”).

WITNESSETH:

WHEREAS, MyoKardia and Sanofi have been parties to a License and Collaboration Agreement of August 1,2014 (the “Collaboration Agreement”) which has been terminated by Sanofi pursuant to a termination notice dated December 31,2018, with termination of the entire Collaboration Agreement being effective on April 1,2019 (the “Collaboration Agreement Termination Date”); and

WHEREAS, in connection with such termination, the Parties desire to clarify or amend certain rights and obligations of the parties surviving termination of the Collaboration Agreement, on the terms and conditions set forth in this Agreement.

NOW THEREFORE, in consideration of the representations, warranties, covenants and agreements set forth herein and for good and valuable consideration, the adequacy of which is hereby acknowledged, Sanofi and MyoKardia hereby agree as follows:

ARTICLE 1
LICENSE TO MYOKARDIA

Section 1.1Sanofi Licensed Technology: Technology Transfer.  Upon the terms and subject to the conditions of this Agreement, in amendment to Section 12.3(b)(i) and 12.3(b)(ii) of the Collaboration Agreement, Sanofi hereby grants to MyoKardia an exclusive, worldwide, fully paid-up and royalty-free, perpetual and irrevocable license with the right to grant sublicenses under the Sanofi Licensed Technology to Develop, Commercialize and Manufacture the Products in the Field. Sanofi shall transfer to MyoKardia the information, data and know-how pertaining to Sanofi’s activities in relation to the Programs and the development and manufacturing of Program Compounds (the “Sanofi Licensed Technology”), including the information, data and know-how as listed in Schedule 1.1 attached hereto, in electronic format. Any additional technology transfer activities will be further memorialized into a detailed technology transfer plan developed and approved by both MyoKardia and Sanofi. The Parties agree to complete all technology transfer activities by December 31, 2019.

Section 1.2Sanofi Retained Rights.  Any rights not expressly granted to MyoKardia under the provisions of this Agreement shall be retained by Sanofi. Without limiting the foregoing, Sanofi retains the right to use the Sanofi Licensed Technology to research, have researched, develop, have developed, make, have made, use, have used, sell, offer for sale, have 

 

 

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Execution Version

Exhibit 10.1

sold, imported and have imported, for any and all purposes, both alone and together with any Third Party, any product that is not a Product.

Section 1.3Termination of Non-Compete Restrictions. The Parties hereby agree that the non-compete restrictions on the Parties pursuant to Section 3.7 of the Collaboration Agreement are hereby terminated as of December 31, 2018 with respect to the DCM1 MOA and HCM2 MOA and, as of the Collaboration Agreement Termination Effective Date, with respect to the HCM1 MOA.

ARTICLE 2
PAID-UP LICENSE FEE & OTHER PAYMENTS BY MYOKARDIA

Section 2.1Paid-Up License Fee. In consideration of Sanofi releasing MyoKardia from its royalty payment obligations on Net Sales of HCM1 Products set forth in Section 9.6(c) of the Collaboration Agreement, MyoKardia shall pay to Sanofi a non-refundable and non-creditable, amount of Eighty Millions US Dollars ($80,000,000.00) net of any broker’s, financial advisor’s or other similar fees or commissions (the “Paid-Up License Fee”) in accordance with Section 2.2 and Section 2.5 of this Agreement.

Section 2.2Payment of Paid-Up License Fee.

(a)Initial Payment. Within five (5) days of the Effective Date hereof, MyoKardia shall pay an amount equal to the Paid-Up License Fee, less Thirty Million US Dollars ($30,000,000) to Sanofi by wire transfer of immediately available United States funds on the bank account designated below 

		
	
Bank Name:

Bank Address

Account Name:

Account Number:

Wire ABA:

ACH ABA:

SWIFT Code:
	
[***]

 

Important / Note in wire: For Credit to Aventis Inc.

(b)Balance Payment: Escrow.

	
 
	
(i)
	
Escrow Amount. Concurrently with the Initial Payment, MyoKardia shall deposit Thirty Million US Dollars ($30,000,000) (the “Escrow Amount”) with JPMorgan Chase Bank, N.A. (the “Escrow Agent”) by wire transfer of immediately available funds to be paid into an escrow account and retained 

 

 

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Exhibit 10.1

	
 
		
therein in accordance with the terms of this Agreement and an Escrow Agreement, executed by and among MyoKardia, Sanofi and the Escrow Agent on the Effective Date, substantially in the form attached as Schedule 2.2 hereto, with Sanofi bearing all fees in connection therewith (the “Escrow Agreement”). It is understood that the Escrow Amount shall be used solely to satisfy the balance payment of the Paid-Up License Fee to Sanofi under this Agreement.

	
 
	
(ii)
	
Escrow Amount Release. On June 30, 2020 (the “Escrow Release Date”), the Escrow Agent shall release to Sanofi the Escrow Amount.

(c)Failure to Make Initial Payment and Deposit Escrow Amount. MyoKardia’s failure to make the Initial Payment and deposit the Escrow Amount in accordance with Sections 2.2(a) and 2.2(b) respectively, shall grant Sanofi the right to (i) terminate the Parties’ rights and obligations set forth in Article 2 of this Agreement upon written notice to MyoKardia with immediate effect (it being understood that upon such termination, MyoKardia’s royalty payments obligations under section 9.6(c) of the Collaboration Agreement shall be reinstated and (ii) assign, convey, transfer or encumber all or any portion of its ownership rights to the royalty payments to be made by MyoKardia to Sanofi as set forth in Section 9.6 of the Collaboration Agreement.

Section 2.3DCM1 Raw Material Inventory; Drug Substance Batches. Within five (5) days of the Effective Date, MyoKardia shall pay to Sanofi a total and non-refundable amount of [***], for the sale by Sanofi to MyoKardia of DCM1(MYK-491) raw material drug substance and intermediates batches described, and meeting the specifications detailed, in Schedule 2.3 hereto. Such sale by Sanofi and purchase by MyoKardia shall be made EXW, Location of Inventory (Incoterms 2010) as further defined in such schedule, unless otherwise agreed in writing by the Parties.

Section 2.4Reimbursement of Other Pre-Clinical Expenses. Within five (5) days of the Effective Date, MyoKardia shall pay to Sanofi a total and non-refundable amount of [***] in reimbursement of the 2019 costs and expenses incurred by Sanofi in connection with the DCM1 Program pre-clinical activities listed in Schedule 2.4 hereto.

Section 2.5Wire Instructions: Interest on Late Payments.

(a)MyoKardia shall provide Sanofi with a copy of wire instructions documenting payment of the various amounts payable to Sanofi hereunder.

(b)In the event Sanofi does not receive payment of any sum due to it on or before the due date therefor, then MyoKardia shall pay interest thereon (before and after any judgment) at an annual rate (but with interest accruing on a daily basis) of three hundred (300) basis points above the London Interbank Offered Rate for deposits in Dollars having a maturity of one (1) 

 

 

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Execution Version

Exhibit 10.1

month published by the British Bankers’ Association, as adjusted from time to time on the first London business day of each month, such interest to run from the date on which payment of such sum became due until payment thereof in full together with such interest.

ARTICLE 3
CONTINUED DEVELOPMENT & MANUFACTURING ACTIVITIES

Section 3.1Continued Development And Manufacturing Activities. At the request of MyoKardia, Sanofi or any of its Affiliates will perform the development and manufacturing services further detailed in Schedule 3.1 (the “Services”), at MyoKardia’s costs in accordance with Section 12.3(g)(v) of the Collaboration Agreement. The Services by Sanofi and its Affiliates shall be memorialized by appropriate work order and performed in accordance with all applicable laws and regulations (including cGMP where applicable), and the provisions of (i) the Quality Agreement ref. QA_MYO-SANOFI_V2.0 with an effective date of 04 May 2017 (ii) the terms and conditions described in Schedule 3.1 and (iii) the Technical Conditions Agreement ref. MP-TC-204 with effective date 09- Aug-2018. For clarity, the parties agree that the applicable provisions of the Collaboration Agreement specified in Schedule 3.1 shall survive termination of the Collaboration Agreement and apply to the performance of the Services.

ARTICLE 4
NO WARRANTIES

IT IS HEREBY ACKNOWLEDGED BY MYOKARDIA THAT EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT OR PURSUANT TO ARTICLE 3 ABOVE, ANY MATERIAL, RECORD AND INFORMATION PROVIDED BY SANOFI UNDER THE COLLABORATION AGREEMENT AND HEREUNDER ARE SUPPLIED “AS IS” AND SANOFI MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

ARTICLE 5
REPRESENTATIONS AND WARRANTIES

Section 5.1MyoKardia’s Representations and Warranties. MyoKardia represents and warrants to Sanofi that as of the date hereof:

(a)Existence; Good Standing. MyoKardia is a Delaware corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

(b)Authorization. MyoKardia has the requisite right, power and authority to execute, deliver and perform its obligations under this Agreement. The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, have been duly authorized by all necessary action on the part of MyoKardia.

 

 

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Exhibit 10.1

(c)Enforceability. This Agreement has been duly executed and delivered by an authorized signatory of MyoKardia and constitutes the valid and binding obligation of MyoKardia, enforceable against MyoKardia in accordance with its terms.

(d)No Conflicts. The execution, delivery and performance by MyoKardia of this Agreement do not (i) contravene or conflict with the organizational documents of MyoKardia, (ii) contravene or conflict with or constitute a default under any material provision of any law binding upon or applicable to MyoKardia or (iii) contravene or conflict with or constitute a default under any material contract or other material agreement or Judgment binding upon or applicable to MyoKardia.

(e)Consents. No consent, approval, license, order, authorization, registration, declaration or filing with or of any Governmental Entity or other Person is required to be done or obtained by MyoKardia in connection with (i) the execution and delivery by MyoKardia of this Agreement, (ii) the performance by MyoKardia of its obligations under this Agreement, or (iii) the consummation by MyoKardia of any of the transactions contemplated by this Agreement.

(f)Payments. MyoKardia has sufficient cash to satisfy its payment obligations hereunder as such obligations become due in accordance with this Agreement. MyoKardia acknowledges that its obligations under this Agreement are not contingent on obtaining financing.

(g)No Reliance. MyoKardia has undertaken such investigation and has evaluated such documents and information as it has deemed necessary to enable it to make an informed and intelligent decision with respect to the execution, delivery and performance of this Agreement. MyoKardia acknowledges that none of Sanofi or any of its Affiliate or representatives makes any representation or warranty with respect to any other information or documents made available to MyoKardia or its representatives with respect to the Products.

Section 5.2Sanofi’s Representations and Warranties. Sanofi represents and warrants to MyoKardia that as of the date hereof:

(a)Existence; Good Standing.  Sanofi is a Pennsylvania corporation duly incorporated, validly existing and in good standing under the laws of the State of Pennsylvania.

(b)Authorization.  Sanofi has all requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. The execution, delivery and performance of this Agreement, and the consummation of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of Sanofi.

(c)Enforceability.  This Agreement has been duly executed and delivered by an authorized managing director or officer of Sanofi and constitutes the valid and binding obligation of Sanofi, enforceable against Sanofi in accordance with its terms.

 

 

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Exhibit 10.1

(d)No Conflicts.  The execution, delivery and performance by Sanofi of this Agreement do not (i) contravene or conflict with the organizational documents of Sanofi, (ii) contravene or conflict with or constitute a default under any material provision of any law binding upon or applicable to Sanofi or (iii) contravene or conflict with or constitute a default under any material contract or other material agreement or Judgment binding upon or applicable to Sanofi.

(e)Consents.  No consent, approval, license, order, authorization, registration, declaration or filing with or of any Governmental Entity or other Person is required to be done or obtained by Sanofi in connection with (i) the execution and delivery by Sanofi of this Agreement, (ii) the performance by Sanofi of its obligations under this Agreement, or (iii) the consummation by Sanofi of any of the transactions contemplated by this Agreement.

(f)No Prior Transfer.  Sanofi has not assigned and has not in any way conveyed, transferred or encumbered all or any portion of its ownership rights to the royalty payments to be made by MyoKardia to Sanofi as set forth in Section 9.6 of the Collaboration Agreement.

ARTICLE 6
INDEMNIFICATION

Section 6.1Indemnification by Sanofi. Sanofi shall indemnify, defend and hold harmless MyoKardia, its Affiliates and their respective officers, directors, agents and employees from and against any Third Party Claims and Losses arising therefrom under or related to this Agreement against any of them to the extent resulting from Sanofi’s breach of this Agreement.

Section 6.2Indemnification by MyoKardia. MyoKardia shall indemnify, defend and hold harmless Sanofi, its Affiliates and their respective officers, directors, agents and employees from and against any Third Party Claims and Losses arising therefrom under or related to this Agreement against any of them to the extent resulting from MyoKardia’s breach of this Agreement.

Section 6.3Indemnification Procedure. The terms and conditions of Section 14.3 of the Collaboration Agreement shall govern all indemnification claims pursuant to this Article 6 and are incorporated herein by reference.

ARTICLE 7
MISCELLANEOUS

Section 7.1Entire Agreement: Survival. The Parties hereby confirm and agree that, except as amended hereby, the provisions of the Collaboration Agreement surviving termination remain in full force and effect and are binding obligations of the Parties hereto. This Agreement and applicable sections/definitions of the Collaboration Agreement, as may be amended hereby, are the entire agreements with respect to the subject matter thereof and supersedes all other 

 

 

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Exhibit 10.1

agreements and understandings between the Parties with respect to such subject matter. If any provision of this Agreement is or becomes invalid or is ruled invalid by any court of competent jurisdiction or is deemed unenforceable, it is the intention of the Parties that the remainder of this Agreement shall not be affected. Unless explicitly stated, in the event of conflict between this Agreement and the Collaboration Agreement, the Collaboration Agreement shall control. Unless otherwise defined herein, all capitalized terms shall have the meaning set forth in the Collaboration Agreement.

Section 7.2Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other acts, as necessary or appropriate in order to carry out the purposes and intent of this Agreement.

Section 7.3Counterparts. This Agreement may be executed in two or more counterparts by original signature, facsimile or PDF files, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

[Remainder of Page Intentionally Left Blank]

 

IN WITNESS WHEREOF, the Parties intending to be bound have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date.

AVENTIS INC.

/s/ Chan H. Lee
Name: Chan H. Lee
Title: Vice President

MYOKARDIA INC.

/s/ Taylor C. Harris
Name: Taylor C. Harris
Title: CFO

 

 

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Exhibit 10.1

 

 

 

 

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Exhibit 10.1

Schedule 1.1

Sanofi Licensed Technology

						
	
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Exhibit 10.1

						
	
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Exhibit 10.1

						
	
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Exhibit 10.1

Schedule 2.2

Form of Escrow Agreement

 

 

 

 

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Exhibit 10.1

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Exhibit 10.1

Schedule 2.3

DCM1 Raw Material; Drug Substance Batches

(attached)

 

 

 

 

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Exhibit 10.1

	
Material
	
Lot
	
Expiration/
Retest Date
	
Location
	
Inventory as of 03/01/2019
	
Amount to Transfer

	
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Exhibit 10.1

Schedule 2.4

Sanofi 2019 Pre-Clinical Costs and Expenses

	
Vendor
	
Invoice
	
Invoice Date
	
Study Number
	
Study Description
	
Amount USD

	
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Exhibit 10.1

Schedule 3.1

Continued Development and Manufacturing Services

Stability Studies

	
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Quantity
	
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Time Points in 2019

	
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Packaging and Labeling Activities

				
	
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Governing Terms and Conditions

(attached)

 

 

 

 

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Exhibit 10.1

Schedule 3.1

Development and Manufacturing Services

Governing Terms and Conditions

Definitions.

Unless this Schedule 3.1 expressly provides to the contrary, the terms below, whether used in the singular or plural, have the respective meanings set forth below.

Capitalized terms used in this and not defined in this Schedule 3.1 have the meaning ascribed to them in the Collaboration Agreement. Except as expressly set forth in this Schedule 3.1, any section or Article of the Collaboration Agreement is incorporated into this Schedule 3.1 by reference, then (a) all references in such section or Article to this Agreement are deemed to mean this Schedule 3.1, (b) all references in such section or Article to Effective Date are deemed to mean the Effective Date of this Schedule 3.1; and (c) the word hereunder in such section or Article is deemed to mean hereunder this Schedule 3.1. As used in this attachment,

“Applicable Law” has the meaning ascribed to such term in Section 1.12 of the Collaboration Agreement; provided, however, for purpose of this Schedule 3.1, it also includes cGMP, if applicable.

“Batch” means a specific quantity of Product that is intended to be of uniform character and quality, within specified limits, and is produced during the same cycle of Manufacture as defined by the applicable Batch record.

“Batch Documentation” has the meaning set forth below.

“Certificate of Analysis” means a document signed by an authorized representative of Sanofi or one of its Affiliates, describing Specifications for, and testing methods applied to Product, and the results of testing.

“Certificate of Compliance” means a document signed by an authorized representative of Sanofi or one of its Affiliates, certifying that a particular Batch was Manufactured in accordance with Applicable Law, the Quality Agreement and the Specifications.

“cGMP” means current good manufacturing practices and regulations applicable to the Manufacture of Product that are promulgated by any Authority.

“Change Order” has the meaning set forth in Section 1.3.

 

 

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Exhibit 10.1

“Confidential Information” has the meaning ascribed to such term in Section 1.31 of the Collaboration Agreement and includes, for clarity, the terms of this Schedule 3.1, and the content of the discussions between the Parties in the negotiation of this Schedule 3.1, including any proposed and/or executed Statements) of Work, and all information and data generated in the performance of the Services.

“Develop” or “Development” has the meaning ascribed to such term in Section 1.46 of the Collaboration Agreement.

“Facility” means the facility(ies) of Sanofi or one of its Affiliates as set forth in the applicable Statement of Work.

“Manufacture” or “Manufacturing” has the meaning ascribed to such term in Section 1.116 of the Collaboration Agreement.

“Services” means the Development, Manufacturing and/or other services described in a Statement of Work entered into MyoKardia and Sanofi or one of its Affiliates.

“Specifications” means the list of tests, references to any analytical procedures and appropriate acceptance criteria which are numerical limits, ranges or other criteria for tests described in order to establish a set of criteria to which Product at any stage of Manufacture should conform to be considered acceptable for its intended use that are agreed to in writing by the Parties, as such specifications are amended or supplemented from time to time by MyoKardia and Sanofi or one of its Affiliates in writing.

“Statement of Work” means a written Statement of Work referencing this Schedule 3.1, substantially in the form attached hereto as Appendix A, for the performance of Services by Sanofi or one of its Affiliates under this Schedule 3.1.

“Technical Protocol” means the technical document agreed by the Parties, and incorporated into the applicable Statement of Work, before the start of Service(s) describing the manufacturing processes to be performed by Sanofi, related time frame, testing and control procedures/in-process controls, and the agreed Specifications.

1.Statement of Work and Performance of Services.

	
 
	
1.1
	
Statement of Work. From time to time, MyoKardia may wish to engage Sanofi or one of its Affiliates to perform Services for MyoKardia. Each Statement of Work will provide the detail of the Services, the material terms for the project, and may include the scope of work of Services, Specifications, deliverables, timelines, milestones (if any), quantity, estimate of the costs and expenses to be invoiced by Sanofi for the performance of the Services or compensation due from MyoKardia, and such other details and special arrangements as agreed between the Parties with 

 

 

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Execution Version

Exhibit 10.1

	
 
		
respect to the Services to be performed under such Statement of Work. No Statement of Work will be effective unless and until it has been agreed to and signed by authorized representatives of MyoKardia and Sanofi or one of its Affiliates. Documents relating to the relevant project, including Specifications, proposals, quotations and any other relevant documentation, will only be effective if attached to the applicable Statement of Work and incorporated in the Statement of Work by reference. Sanofi or one of its Affiliates will perform the Services specified in each fully signed Statement of Work, as amended by any applicable Change Order(s), and in accordance with the terms and conditions of such Statement of Work and this Schedule 3.1. For clarity, a change to a particular Statement of Work does not modify the terms of this Schedule 3.1 or any other Statement of Work, nor does it require a modification to the terms of this Schedule 3.1. Notwithstanding the foregoing, nothing in this Schedule 3.1 will obligate either Party to enter into any Statement of Work under this Schedule 3.1.

	
 
	
1.2
	
Compliance. Sanofi or one of its Affiliates will perform all Services at the Facility, provide all staff necessary to perform the Services in accordance with the terms of the applicable Statement of Work, this Schedule 3.1, and all Applicable Laws.

	
 
	
1.3
	
Changes to Statement of Work(s). If the scope of work of a Statement of Work changes, then the applicable Statement of Work may be amended by MyoKardia and Sanofi or one of its Affiliates as provided in this Section. If a required modification to a Statement of Work is identified by MyoKardia or by Sanofi or one of its Affiliates, the identifying Party will notify the other Party in writing as soon as reasonably possible. The identifying Party will provide the other Party with a written description of the required modifications to the Statement of Work, and the Parties will agree on a change order containing the detail of such modifications, their effect on the scope, the R&D Costs, the timelines and other items (“Change Order”). MyoKardia and Sanofi or one of its Affiliates will use its commercially reasonable efforts to negotiate the Change Order which shall address all changes to the applicable Statement of Work. No Change Order will be effective unless and until it has been signed by authorized representatives of MyoKardia and Sanofi or one of its Affiliates.

	
 
	
1.4
	
Process/Specifications Changes. Any change or modification to Specifications for any Product must be approved in advance by the Parties and will be made in accordance with the change control provisions of the applicable Quality Agreement.

	
 
	
1.5
	
Records: Supporting Documentation; Sample Retention.

 

 

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Execution Version

Exhibit 10.1

	
 
	
1.5.1
	
Records. Section 5.7, “Development Records”, of the Collaboration Agreement is incorporated into this Schedule 3.1 by reference. The Parties agree to the following:

(i)Sanofi or one of its Affiliates will keep complete and accurate records (including, but not limited to Batch Documentation, development campaign reports, reports for process development, formulation development and analytical development activities, as well as analytical method and process validation, protocols, Certificate of Compliance, validated reports, accounts, notes, raw data, and all information and results obtained from the performance of the Services and all other mandatory documents required for filing purposes) of all work done by it under this Schedule 3.1, in form and substance as specified in the applicable Statement of Work, the applicable Quality Agreement, and this Schedule 3.1 (collectively, the “Records”).

(ii)Records will be transferred by Sanofi or one of its Affiliates to MyoKardia. It is understood between the Parties that promptly upon request by MyoKardia, raw data will be transferred by Sanofi or one of its Affiliates to MyoKardia to the extent necessary for regulatory purposes (especially in case of specific requirements from Authorities) or for MyoKardia to fulfill its obligations under cGMP and/or Applicable Law. Sanofi or one of its Affiliates will cooperate in good faith with MyoKardia in the carrying out by MyoKardia of regulatory activities. Sanofi or one of its Affiliates will not transfer, deliver or otherwise provide any such Records to any party other than MyoKardia, without the prior written approval of MyoKardia.

(iii)Records will be available at reasonable times for inspection, examination and copying by or on behalf of MyoKardia. All original Records of the Development and Manufacturing of Product under this Schedule 3.1 will be retained and archived by Sanofi or one of its Affiliates in accordance with the Collaboration Agreement.

	
 
	
1.5.2
	
Sample Retention. Sanofi or one of its Affiliates will take and retain, for such period and in such quantities as may be required by cGMP and the applicable Quality Agreement, samples of Product from the Manufacturing process produced under this Schedule 3.1. Further, upon MyoKardia’s written request, Sanofi or one of its Affiliates will submit such samples to MyoKardia,

2.Testing and Acceptance Process.

 

 

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Execution Version

Exhibit 10.1

	
 
	
2.1
	
Testing by Sanofi. The Product Manufactured under this Schedule 3.1 will be Manufactured in accordance with cGMP. the Quality Agreement and the Specifications (unless otherwise expressly stated in the applicable Statement of Work). Each Batch of Product will be sampled and tested by Sanofi or one of its Affiliates against the Specifications, and the quality assurance department of Sanofi or one of its Affiliates will review the documentation relating to the Manufacture of the Batch and will assess if the Manufacture has taken place in compliance with cGMP, the Quality Agreement, and the Specifications.

	
 
	
2.2
	
Batch Documentation. If, based upon such tests and documentation review, a Batch of Product conforms to the Specifications and the Quality Agreement and was Manufactured according to cGMP, then a Certificate of Compliance will be completed and approved by the quality assurance department of Sanofi or one of its Affiliates. This Certificate of Compliance, a Certificate of Analysis, the Specifications, and a complete and accurate copy of the Batch records, method validation reports, investigation and out of spec reports, stability protocol and reports, and all associated analytical data (collectively, the “Batch Documentation”) for each Batch of Product will be delivered to MyoKardia by a reputable overnight courier or by registered or certified mail, postage prepaid, return receipt required to verify delivery date. Upon request, Sanofi will also promptly deliver to MyoKardia other records in the possession or under the control of Sanofi or one of its Affiliates relating to the Manufacture of each Batch of Product (or any intermediate or component of Product). If MyoKardia requires additional copies of such Batch Documentation, these will be provided by Sanofi or one of its Affiliates to MyoKardia at MyoKardia cost.

	
 
	
2.3
	
Review of Batch Documentation; Acceptance. MyoKardia will review the Batch Documentation for each Batch of Product and may test samples of the Batch of Product against the Specifications. MyoKardia will notify Sanofi or one of its Affiliates in writing of its acceptance or rejection of such Batch within six (6) weeks of receipt of the complete Batch Documentation relating to such Batch. During this review period, the Parties agree to respond promptly, but in any event within ten (10) days, to any reasonable inquiry or request for a correction or change by the other Party with respect to such Batch Documentation. MyoKardia has no obligation to accept a Batch if such Batch does not comply with the Specifications and/or was not Manufactured in compliance with cGMP, the Specifications, the Technical Protocol, the Quality Agreement, and all other Applicable Law (“Non-Conforming Product”).

	
 
	
2.4
	
Disputes. In case of any disagreement between the Parties as to whether a Product is a Non-Conforming Product, the quality assurance representatives of the Parties will attempt in good faith to resolve any such disagreement and MyoKardia and 

 

 

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Execution Version

Exhibit 10.1

	
 
		
Sanofi or one of its Affiliates will follow their respective SOPs to determine the conformity of the Product to the Specifications, Quality Agreement and cGMP. If the foregoing discussions do not resolve the disagreement in a reasonable time (which will not exceed thirty (30) days), a representative sample of such Product and/or relevant Batch Documentation will be submitted to an independent testing laboratory (in the case of an alleged failure to meet Specifications) and/or independent cGMP consultant (in the case of an alleged failure to comply with cGMP), as appropriate, that are mutually agreed upon by the Parties for tests and final determination of whether such Product conforms with such Specifications and/or cGMP. The laboratory must meet cGMP. The laboratory and consultant, as applicable, must be of recognized standing in the industry, and consent to the appointment of such laboratory and consultant will not be unreasonably withheld or delayed by either Party, Such laboratory will use the test methods contained in the applicable Specifications. The determination of conformance by such laboratory and/or cGMP consultant, as applicable, with respect to all or part of such Product will be final and binding upon the Parties. The fees and expenses of the laboratory and/or consultant, as applicable, incurred in making such determination will be paid by the Party against whom the determination is made.

3Compensation for the Services

	
 
	
3.1
	
MyoKardia Payment and Sanofi Invoices. The fees and expenses for the performance of such Services will be specified in the applicable Statement of Work, or Change Order, and expressly identified as to be paid by MyoKardia to Sanofi. Sanofi will invoice MyoKardia for such amounts according to the invoice schedule agreed to by the Parties, referencing in each such invoice the applicable Statement of Work or Change Order to which such invoice relates. All payments to be made under this Schedule 3.1 will be made in United States dollars. MyoKardia will make all payments pursuant to this Schedule 3.1 by check or wire transfer to a bank account designated in writing by Sanofi.

	
 
	
3.2
	
Currency. All dollar ($) amounts specified in this Schedule 3.1 are United States dollar amounts.

	
 
	
3.3
	
Taxes. Duty, sales, use or excise taxes imposed by any governmental entity that apply to the provision of Services that are invoiced to MyoKardia in accordance with this Schedule 3.1 will be borne by MyoKardia (other than taxes based upon the income of Sanofi).

4.Confidential Information; Use of Names

 

 

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Execution Version

Exhibit 10.1

	
 
	
4.1
	
Confidential Information; Use of Names. Article 11 of the Collaboration Agreement is incorporated by reference into this Schedule 3.1 and shall govern the Parties’ respective rights and obligations with respect to Confidential Information disclosed, used or generated under this Schedule 3.1 and use of a Party’s name. Sanofi acknowledges and agrees that the Specifications and MyoKardia Licensed Know-How constitute the Confidential Information of MyoKardia.

5.Indemnification; Liability; Insurance

	
 
	
5.1
	
Indemnification. Section 14.1 through 14.4 of the Collaboration Agreement is incorporated by reference into this Schedule 3.1

	
 
	
5.2
	
Liability. Section 14.5 of the Collaboration Agreement is incorporated by reference into this Schedule 3.1 In addition to Section 14.5 of the Collaboration Agreement, the Parties agree to add to such Section, solely for the purposed of this Schedule 3.1, the following three paragraphs:

NOTHING IN THIS SECTION IS INTENDED TO LIMIT OR SHALL LIMIT (I) THE LIABILITY OF EITHER PARTY FOR DEATH OR PERSONAL INJURY CAUSED BY THE OTHER PARTY, ITS AFFILIATES OR THEIR RESPECTIVE EMPLOYEES, REPRESENTATIVES OR AGENTS IN THE PERFORMANCE OF THEIR OBLIGATIONS UNDER THIS SCHEDULE 3.1 OR ANY STATEMENT OF WORK, (II) THE FRAUD OR FRAUDULENT MISREPRESENTATION BY A PARTY OR ANY OF ITS AFFILIATES OR BY THEIR RESPECTIVE EMPLOYEES, REPRESENTATIVES OR AGENTS IN THE PERFORMANCE OF THEIR OBLIGATIONS UNDER THIS SCHEDULE 3.1: OR (III) ANY MATTER FOR WHICH IT WOULD BE ILLEGAL TO EXCLUDE OR LIMIT THE LIABILITY OF A PARTY PURSUANT TO APPLICABLE REGULATIONS.

IT IS EXPRESSLY AGREED THAT SANOFI’s LIABILITY UNDER EACH STATEMENT OF WORK TOWARDS MYOKARDIA FOR ANY MYOKARDIA MATERIAL LOSS SHALL NOT EXCEED FORTY (40)% OF THE PRICE PAID BY MYOKARDIA TO PURCHASE SUCH MYOKARDIA MATERIAL.

IN ALL CASES, THE MAXIMUM AGGREGATED SANOFI’ LIABILITY TOWARDS MYOKARDIA UNDER THIS SCHEDULE 3.1 SHALL NOT EXCEED FIVE HUNDRED THOUSAND EUROS (500.000 €).

	
 
	
5.3
	
Insurance. Section 14.6 of the Collaboration Agreement is incorporated by reference into this Schedule 3.1.

 

 

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Execution Version

Exhibit 10.1

6.Term, Termination and Effects of Termination.

	
 
	
6.1
	
The Parties may terminate any pending Statement of Work(s) by mutual written agreement. In such case, the termination date of such pending Statement of Work will be the date agreed in writing between the Parties.

	
 
	
6.2
	
Either Party shall be entitled to immediately terminate a pending Statement of Work(s) if the other Party commits a material breach under such Statement of Work and fails to remedy such breach within thirty (30) days of receipt of notice specifying the breach.

	
 
	
6.3
	
MyoKardia will have the right, in its sole discretion, to terminate any Statement of Work(a) upon thirty (30) days prior written notice to Sanofi; (b) immediately upon written notice if Sanofi fails to obtain or maintain any material governmental licenses or approvals required in connection with the Services; or (c) in the event of a Force Majeure event that will, or continues to, prevent performance (in whole or substantial part) of any pending Statement of Work for a period of at least ninety (90) days.

	
 
	
6.4
	
Pending Statements) of Work. Notwithstanding anything to the contrary in this Schedule 3.1, in case of termination of this Schedule 3.1 such termination will not affect any pending Statements) of Work unless MyoKardia so agrees in writing and the terms of this Schedule 3.1 shall continue to apply and govern the pending Statements) of Work until such time as they are completed or terminated as permitted by this Schedule 3.1.

	
 
	
6.5
	
Return of Confidential Information and Material. Upon the expiration or termination of any Statement of Work for any reason, or of this Schedule 3.1, receiving Party agrees except as otherwise provided by this Schedule 3.1, upon request of disclosing Party (i) to destroy disclosing Party Confidential Information and provide to disclosing Party with a certificate of destruction or, (ii) to return to disclosing Party all disclosing Party’s Confidential Information. Receiving Party shall not use the other Party’s Confidential Information, unless otherwise agreed in writing between the Parties or expressly permitted by this Schedule 3.1. Notwithstanding the foregoing, receiving Party may retain one archival copy of disclosing Party’s Confidential Information in order to monitor receiving Party’s ongoing obligations of confidentiality and non-use under this Schedule 3.1; provided, that such archival copy must be kept confidential and segregated from receiving Party’s regular files.

 

 

 

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Exhibit 10.2

 

October 4, 2019 

 

 

PERSONAL & CONFIDENTIAL

DELIVERED IN PERSON  

 

June Lee

 

Re:Transition Agreement

 

Dear June:

This confirms that your employment with MyoKardia, Inc. (the “Company”) will be ending.  We appreciate your contributions and wish to make this transition as smooth as possible for both you and the Company.  Consistent with that notion, this letter proposes an agreement (the “Agreement”), under which you will continue to be employed by the Company during a Transition Period (defined below) and, thereafter, you will receive Severance Benefits (defined below) if you enter into this Agreement and satisfy the other conditions that are set forth and defined below.   

Regardless of whether you sign this Agreement: 

 

	
 
	
•
	
Your employment with the Company will end on the Separation Date (as defined below). 

 

	
 
	
•
	
The Company will pay you all salary accrued to you through your Separation Date.  

 

	
 
	
•
	
The Company will pay you any accrued but unused vacation time through the Separation Date. 

 

	
 
	
•
	
The Company will provide you with the right to continue group health care coverage after the Separation Date under the law known as “COBRA,” which will be described in a separate written notice.

 

	
 
	
•
	
The Company will reimburse you for any outstanding business expenses you incurred prior to the Effective Date, and, if authorized by the CEO in writing, prior to the Separation Date consistent with the Company’s expense reimbursement policy provided you submit appropriate documentation to the Company;

 

	
 
	
•
	
You will cease vesting on the Separation Date in any grants of equity that you hold in accordance with the Company’s applicable equity plans and corresponding equity grant agreements (collectively, the “Equity Documents”).  

For your part, regardless of whether enter into this Agreement, you remain bound by the continuing obligations under your December 6, 2016 MyoKardia, Inc. Employee Confidentiality 

ACTIVE/101014600.11  

 
 

 

and Assignment Agreement (the “Confidentiality Agreement”).  Notwithstanding anything to the contrary in this Agreement or any other agreement, after the Separation Date, you shall be entitled to retain copies of the following documents or items as your personal property: (i) all employment agreements and documents related to compensation that you and the Company executed in connection with your employment with the Company; (ii) all wage statements and other payroll records issued to you, as well as documents issued to you with regard to your employee benefits and (iii) as otherwise allowed under applicable law.  Further, effective immediately your access to the Company’s systems will be aligned with your transition duties and job search efforts as authorized in writing by the Company’s CEO in line with these requirements. You will not dispose of any other Company property (including information or documents, including computerized data and any copies made of any computerized data or software) except as set forth in the following paragraph. 

You agree to return as soon as possible to the Company all Company property, including, without limitation, computer equipment, software, keys and access cards, credit cards, files and any Documents containing information concerning the Company, its business or its business relationships (in the latter two cases, actual or prospective), located upon a reasonable search.  After returning all Documents and Company property, you commit to (with reasonable effort) deleting and finally purging any duplicates of files or documents that may contain Company information from any non-Company computer or other device that remains your property.  In the event that you discover that you continue to retain any such property, you shall promptly return it to the Company.  

The remainder of this letter sets forth the terms of the Agreement.  You acknowledge that you are entering into this Agreement knowingly and voluntarily.  With those understandings, you and the Company agree as follows: 

1.Transition Period; Separation from Employment

If you enter into and comply with this Agreement and unless you sooner resign or are terminated by the Company for Cause (as defined below), your at-will employment with the Company will terminate on June 30, 2020 (the “Anticipated Separation Date”).  For purposes of this Agreement, the actual last day of your employment with the Company—whether the Anticipated Separation Date or an earlier date—-shall be referred to as the “Separation Date.” If you do not enter into this Agreement, the Separation Date will be on the next business day following the Consideration Period (as defined in Section 18).  The period from September 30, 2019 through the Separation Date shall be referred to as the “Transition Period.” “Cause” means dismissal as a result of (i) any material breach by you of any written agreement between you and the Company after a period to cure if the breach is curable consistent with Paragraph 10 below; and (ii) the conviction of or plea of nolo contendere by you to a felony or a crime involving moral turpitude. 

During the Transition Period, you will retain the title of Executive Vice President and Chief Development Officer unless the Company’s Chief Executive Officer (“CEO”) requests that you resign from that position and become a Senior Advisor on an earlier date.  Regardless of your title, your duties during the Transition Period shall be limited to those duties and responsibilities specifically requested in writing by the CEO (the “Transitional Services”) as consistent with your role and title.  You are not authorized to execute your previous job responsibilities during 

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the Transition Period unless requested by the CEO.  The Transitional Services shall be performed at such locations as determined by the CEO .  Unless otherwise determined by the CEO, you will also retain such electronic access as is approved by the CEO and use of email on a computer to be provided by the Company. 

With respect to compensation, you will continue to receive your base salary (Base Salary”) and you will be eligible for regular employee benefits as currently in effect throughout the Transition Period, provided you will not accrue vacation or other paid time off.  You will also continue to vest in your outstanding restricted stock and stock options consistent with the Equity Documents until the Separation Date.  In the event you find another job prior to the Anticipated Separation Date, you must resign from the Company and the Separation Date will be on the date of that resignation.  In the event you resign on or prior to the Anticipated Separation Date and provided you satisfy each of the Severance Conditions (as defined below), you will be entitled to Severance Benefits (as defined in Section 2). You will not be eligible for any bonus, severance pay or benefits or other compensation other than to the extent specifically set forth herein.  During the Transition Period you are free to pursue other opportunities and investments provided you continue to comply with this Agreement and the Confidentiality Agreement. 

2.Severance Benefits

If you (i) enter into and comply with this Agreement, (ii) provide Transitional Services to the Company, (iii) are not terminated by the Company for Cause, (iv) comply with your obligations under the Confidentiality Agreement, all as consistent with Paragraph 10, below, and (v) sign and do not revoke the “Supplemental Release” attached hereto as Exhibit A, the Company will provide you with the following “Severance Benefits”: 

(a)Severance Pay.  The Company will pay you a lump sum severance payment (the “Severance Pay”) in an amount equal to twelve (12) months of your Base Salary less the amount of Base Salary you receive during the Transition Period.  The Company will pay you the Severance Pay, subject to tax-related deductions and withholdings, within thirty-five (35) days of the Separation Date provided the Supplemental Release (as defined in the Supplemental Release) has become fully effective. You acknowledge and agreed that you are not entitled to any bonus for 2019, 2020 or otherwise and that the Severance Pay shall be your sole post-employment compensation.   

(b)Health Benefits.  If you elect COBRA continuation coverage, the Company will pay for COBRA coverage through the earliest of the following: (i) June 30, 2020; (ii) the date you become eligible to in fact receive health benefits through another employer; or (iii) the date you otherwise become ineligible for COBRA.  The Company will make COBRA reimbursements to you consistent with the Company’s normal expense reimbursement policy, provided that you submit documentation to the Company substantiating your payments for COBRA coverage.

 

 

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 (c)Communications with Prospective Employers.  If you direct prospective employers to direct their inquiries regarding your employment with the Company solely to Ingrid Boyes, Senior Vice President Human Resources, she will respond to such inquiries by confirming your dates of employment and position held with the Company and not making any further statements regarding your employment or your separation from employment and the Company will instruct all officers to respond consistent with Paragraph 6, below. This agreement does not affect the Company’s obligations when responding to government requests for information or otherwise as required by law.

 

3.Release of Claims

In consideration for, among other terms, the Transition Period and the Severance Benefits set forth in Section 2 of this Agreement, to which you acknowledge you would otherwise not be entitled, you voluntarily release and forever discharge the Company, its and their affiliated and related entities and its and their designated related parties its and their respective predecessors, successors and assigns, its and their respective , and the current and former officers, directors, members, , employees and  attorneys, of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when you sign this Agreement, you have, ever had, now claim to have or ever claimed to have had against any or all of the Releasees.  This release includes, without limitation, all Claims:  

	
•
	
relating to your employment by the Company, separation from employment, and the decision regarding your separation from employment; 

	
•
	
of wrongful discharge; 

	
•
	
of breach of contract; 

	
•
	
of retaliation or discrimination under federal, state or local law (including, without limitation, Claims of discrimination or retaliation under the Age Discrimination in Employment Act, the Americans with Disabilities Act, Title VII of the Civil Rights Act of 1964, and the California Fair Employment and Housing Act); 

	
•
	
under any other federal or state statute (including, without limitation, the Family and Medical Leave Act or analogous state leave laws); 

	
•
	
of defamation or other torts; 

	
•
	
of violation of public policy; 

	
•
	
for wages, bonuses, incentive compensation, commissions, stock, stock options, vacation pay or any other compensation or benefits, either under the California Labor Code, or otherwise; and 

	
•
	
for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees;

 

provided, however, that this release shall not release or affect (i) your rights under this Agreement; (ii) any rights that cannot be released as a matter of law; (iii) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party(or third party beneficiary), under applicable law or under the Company’s or its affiliate’s governing document including bylaws, operating agreements and all 

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similar documents); (iv) any rights you have to file or pursue a claim for workers’ compensation or unemployment insurance; (v) any claims for breach of this Agreement; (vi) indemnity, defense and/or advancement of legal fees and expenses to the extent required under any applicable directors’ and officers’, general liability or other insurance policy and (vii) your vested rights, if any, under the Company’s 401(k) or other deferred benefit plan.  At this time, the Company warrants and represents, to the Company’s knowledge without any inquiry, it is unaware of any act or omission by you that would or could allow it to assert it does not have to perform as contemplated under this Agreement.

 

You agree not to accept damages of any nature, other equitable or legal remedies for your own benefit or attorney’s fees or costs from any of the Releasees with respect to any Claim released by this Agreement.  As a material inducement to the Company to enter into this Agreement, you represent that you have not assigned any Claim to any third party.

   

4.California Civil Code Section 1542

You acknowledge that you have been advised to consult with legal counsel and are familiar with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits the release of unknown claims, which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.

Being aware of said code section, you agree to expressly waive any rights you may have thereunder, as well as under any other statute or common law principles of similar effect.

5.Cooperation

Any claims between the parties aside, you agree to provide reasonable assistance to and cooperation with the Company if called upon by it with regard to any lawsuit, claim, action, investigation, administrative review or otherwise that may be brought by a third party against the Company and which may involve facts or knowledge of which you may be aware as a result of your employment or position with the Company. Any cooperation under this Section will be scheduled in a way that is convenient to you and shall not interfere with your full-time employment outside of the Company after the Separation Date and shall not require over 10 hours in a month. You will be entitled to be reimbursed for reasonable expenses associated with fulfilling your responsibilities under this Section.

 

6.Non-Disparagement

Subject to Section 8, you agree not to make any disparaging statements concerning the Company or any of the Releasees.  You further agree not to take any actions or conduct yourself in any 

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way that would reasonably be expected to affect adversely the reputation or goodwill of the Company or any of the Releasees.  The Company will instruct its current officers not to make any disparaging statements concerning you and to not to take any actions or conduct themselves in any way that would reasonably be expected to affect adversely your reputation or goodwill.   

Nothing in this Agreement (including this Paragraph 6) shall, after the Separation Date, (i) limit your right or ability after the Separation Date to sell or market products or services in competition with the Company or its affiliates as allowed under California Business and Professions Code Section 16600, or (ii) impose any restraint or limit beyond what is allowed under California Business and Professions Code Section 16600; provided, however, that you shall be expected to continue to comply with all continuing obligations set forth in this Agreement and under applicable trade secret laws.  

7.Continuing Obligations

You understand and agree that you have been employed in a position of confidence and trust and have had access to information concerning the Company that the Company treats as confidential and the disclosure of which could negatively affect the Company’s interests.  You reaffirm and agree to observe and abide by the terms of the Confidentiality Agreement, specifically including the provisions therein regarding: nondisclosure of the Company’s trade secrets and confidential and proprietary information. The terms of the Confidentiality Agreement are incorporated by reference herein. You acknowledge that during the course of your employment with the Company you have accessed a number of highly confidential materials including materials concerning the Company’s business, technology, business relationships or financial affairs all of which is “Proprietary Information” under the Confidentiality Agreement and you specifically represent that you shall refrain from directly or indirectly disclosing or using any such Proprietary Information in the future including in connection with any business activities.

8.Protected Disclosures and Other Protected Actions

Nothing contained in this Agreement limits your ability to file a charge or complaint with any federal, state or local governmental agency or commission (a “Government Agency”).  In addition, nothing contained in this Agreement limits your ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, nor does anything contained in this Agreement apply to truthful testimony in litigation, in response to a valid subpoena, court order, regulatory request or other judicial, administrative or legal process or otherwise as required by law.  If you file any charge or complaint with any Government Agency and if the Government Agency pursues any claim on your behalf, or if any other third party pursues any claim on your behalf, you waive any right to monetary or other individualized relief (either individually, or as part of any collective or class action); provided that nothing in this Agreement limits any right you may have to receive a whistleblower award or bounty for information provided to the Securities and Exchange Commission.

	
9.
	
Defend Trade Secrets Act of 2016

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You understand that pursuant to the federal Defend Trade Secrets Act of 2016, you 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.

10.Termination of Payments

If you materially breach any of your obligations under this Agreement or the Confidentiality Agreement and, if curable, you have not cured upon written notice specifying the details and a reasonable opportunity to cure, in addition to any other legal or equitable remedies it may have for such breach, the Company shall have the right to terminate or recover the Severance Benefits.  The termination or recovery of the Severance Benefits in the event of your breach will not affect your continuing obligations under this Agreement or the Confidentiality Agreement.  

11.Absence of Reliance

In signing this Agreement, you are not relying upon any promises or representations made by anyone at or on behalf of the Company.  

12.Enforceability and Authority

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. Each party represents and warrants to the other that it has full corporate or entity power and authority to execute, deliver, and perform this Agreement according to its terms, they possess all consents, and approvals required to do so, and the execution, delivery, and performance of this Agreement have been duly authorized by each of them.

13.Waiver

No waiver of any provision of this Agreement 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.

14.Jurisdiction and Relief 

You and the Company hereby agree that the federal and state courts in San Mateo County, California shall have the exclusive jurisdiction to consider any matters related to this Agreement, including without limitation any claim for violation of this Agreement.  With respect to any such court action, you (i) submit to the jurisdiction of such courts, (ii) consent to service of process, 

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and (iii) waive any other requirement (whether imposed by statute, rule of court or otherwise) with respect to personal jurisdiction or venue.  You agree that it would be difficult to measure any harm caused to the Company that might result from any breach of the Confidentiality Agreement and that in any event money damages would be an inadequate remedy for any such breach.  Accordingly, you agree that if you breach, or propose to breach, any of your continuing obligations under the Confidentiality Agreement, the Company shall be entitled, in addition to all other remedies it may have including to monetary relief, to an injunction or other appropriate equitable relief to restrain any such breach.   

15.Governing Law; Interpretation

This Agreement shall be interpreted and enforced under the laws of California without regard to conflict of law principles.  In the event of any dispute, this Agreement is intended by the parties to be construed as a whole, to be interpreted in accordance with its fair meaning, and not to be construed strictly for or against either you or the Company or the “drafter” of all or any portion of this Agreement.  

16.Entire Agreement

This Agreement constitutes the entire agreement between you and the Company and supersedes any previous agreements or understandings between you and the Company, provided the Confidentiality Agreement, the Equity Documents shall remain in full force and effect. The payments and benefits here in shall in in lieu of an not in addition to any payments and/or benefits to which you may have been entitled to under the Company’s Change in Control and Severance Policy or any other policy, agreement or understanding relating to severance pay benefits or equity rights in connection with the ending of your employment.     

17.Legally Binding; Advice of Counsel 

This Agreement is a legally binding document and your signature will commit you to its terms.  The Company has advised you to consult with an attorney before entering into this Agreement and you have, if fact, consulted with counsel.  You acknowledge that you have carefully read and fully understand all of the provisions of this Agreement and that you are voluntarily entering into this Agreement.

18.Time for Consideration; Effective Date 

You understand and acknowledge that you have been given the opportunity to consider this Agreement for up to twenty-one (21) days from your receipt of this Agreement before signing it (the “Consideration Period”).  In signing this Agreement, you acknowledge that you have knowingly and voluntarily entered into this Agreement.  To accept this Agreement, you must return a signed original or a signed PDF copy so by Ms. Boyes (333 Allerton Avenue, South San Francisco, CA 94080; iboyes@myokardia.com) at or before the expiration of the Consideration Period.  If you sign this Agreement before the end of the Consideration Period, you acknowledge by signing this Agreement that such decision was entirely voluntary and that you had the opportunity to consider this Agreement for the entire Consideration Period.  For the period of seven (7) days from the date when you sign this Agreement, you have the right to revoke this Agreement by written notice to Ms. Boyes.  For such a revocation to be effective, it must be 

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delivered so that it is received by the undersigned at or before the expiration of the seven (7) day revocation period.  This Agreement shall become effective on the first business day following the expiration of the revocation period (the “Effective Date”).

19.Counterparts

This Agreement may be executed in any number of counterparts.  When both counterparts are signed, they shall be treated together as one and the same document.  

[signature page follows]

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Please indicate your agreement to the terms of this Agreement by signing and returning to Ms. Boyes the original or a PDF copy of this Agreement within the time period set forth above.

Sincerely,

MyoKardia, Inc.

 

Tassos Gianakakos

Chief Executive Officer

 

 

The foregoing is agreed to and accepted by:  

 

_/s/ June Lee___________________________10/4/2019__________________________

June LeeDate  

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Exhibit A to Transition Agreement 

Supplemental Release

 

Background

I, June Lee, acknowledge that I entered into a Transition Agreement (the “Agreement”) with MyoKardia, Inc. (the “Company”) in connection with my separation from employment with the Company.  I further acknowledge that this is the Supplemental Release referenced in and attached as Exhibit A to the Agreement, and that this Supplemental Release becoming effective is one of the conditions of my receipt of certain Severance Benefits (as defined in the Agreement).  

I understand that for this Supplemental Release to become effective, I must sign this Supplemental Release no earlier than the Separation Date and return the signed copy to Ingrid Boyes (333 Allerton Avenue, South San Francisco, CA 94080; iboyes@myokardia.com) no later than twenty one (21) days after the Separation Date.  

I acknowledge that I have had had the opportunity to consider this Supplemental Release since first receiving it at the same time I received the Agreement.  I understand that, for the period of seven (7) days from the date when I sign this Supplemental Release, I have the right to revoke this Supplemental Release by written notice to Ms. Boyes, provided that such notice is delivered so that it is received at or before the expiration of the seven (7) day revocation period.  This Supplemental Release shall not become effective or enforceable during the revocation period.  This Supplemental Release shall become effective on the first day following expiration of the revocation period (the “Supplemental Release Effective Date”).  

This Supplemental Release shall be supplemental to the release of claims in Section 3 of the Agreement, which shall remain in full force and effect regardless of whether this Supplemental Release becomes effective.  

Release

In consideration for, among other terms, the Severance Benefits (as defined in the Agreement), to which I acknowledge I would otherwise not be entitled, I voluntarily release and forever discharge the Company, its affiliated and related entities (including, without limitation, its parent companies), its and their respective predecessors, successors and assigns, its and their respective current and former officers, directors, managers, , employees, attorneys, accountants and agents of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when I sign this Supplemental Release, I have, I had, now claim to have or ever claimed to have had against any or all of the Releasees.  This release includes, without limitation, all Claims: my employment with and separation from employment with the Company; of wrongful discharge or violation of public policy; of breach of contract; of defamation or other torts; of retaliation or discrimination under federal, state or local law (including, without limitation, Claims of discrimination or retaliation under the Americans with Disabilities Act, Title VII of the Civil Rights Act of 1964, the Age 

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Discrimination in Employment Act, and the California Fair Employment and Housing Act); under any other federal or state statute (including, without limitation, Claims under the Fair Labor Standards Act, the federal Worker Adjustment and Retraining Notification Act or analogous state law, the Family and Medical Leave Act, the California Family Rights Act, or any other federal or state family and medical leave law); for wages, bonuses, incentive compensation, commissions, stock, stock options, vacation pay or any other compensation or benefits, either under the California Labor Code, or otherwise; and for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees; provided, however, that this release shall not affect my rights under the Agreement, my vested rights (if any) under the Equity Documents (as defined in the Agreement) or the Company’s employee benefit plans, or rights that cannot be released as a matter of law.  

I agree not to accept damages of any nature, other equitable or legal remedies for my own benefit or attorney’s fees or costs from any of the Releasees with respect to any Claim released by this Supplemental Release. 

I acknowledge that I have been advised to consult with legal counsel and am familiar with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits the release of unknown claims, which provides as follows:

A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.

I, being aware of said code section, agree to expressly waive any rights I may have thereunder, as well as under any other statute or common law principles of similar effect.

 

I HAVE READ THIS SUPPLEMENTAL RELEASE THOROUGHLY, UNDERSTAND ITS TERMS AND HAVE SIGNED IT KNOWINGLY AND VOLUNTARILY.  I UNDERSTAND THAT THIS SUPPLEMENTAL RELEASE IS A LEGAL DOCUMENT. I ACKNOWLEDGE THAT I HAVE BEEN ADVISED BY THE COMPANY TO DISCUSS ALL ASPECTS OF THIS SUPPLEMENTAL RELEASE WITH AN ATTORNEY.

 

_/s/ June Lee_______________________________

June Lee

 

_10/4/2019_______________________________

Date

 

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