Document:

Exhibit 10.10

 

Consulting Agreement

 

This Consulting Agreement, dated effective October 28, 2010 (this ‘“Agreement”), is made and entered into by and among Karyopharm Therapeutics, Inc., a Delaware corporation with offices at 15 Bontempo Rd., Newton, MA 02459 (the “Company”) and Alan T. Barber doing business as the Prestar Group at 134 Alcott Rd, Concord, MA 01742 (the “Consultant”).

 

ARTICLE 1 - SCOPE OF WORK

 

1.1                               The Company has engaged Consultant to provide financial management services in the role of acting Chief Financial Officer (the “Consulting Services”).  Consultant will perform the customary and usual duties of a Chief Financial Officer and all functions related thereto as required by Company.

 

1.2                               Consultant and Company shall agree on a weekly basis as to the dates and times Consultant performs such Consulting Services giving due regard to the needs of the Company’s business.  Consultant will be available if required by Company to provide at least 1 working day each week.  Consultant will report directly to Sharon Shacham, President and CSO.  Upon Company’s request Consultant will provide the Consulting Services from the Company’s office.  The Company recognizes that initial work may require an increased commitment.

 

1.3                               In order for Consultant to perform the Consulting Services, it may be necessary for the Company to provide Consultant with Confidential Information (as defined below) regarding the Company’s business and products.  The Company will rely heavily upon Consultant’s integrity and prudent judgment to use this information only in the best interests of the Company.

 

1.4                               In rendering consulting services under this Agreement, Consultant shall conform to high professional standards of work and business ethics.

 

ARTICLE 2 - INDEPENDENT CONTRACTOR

 

2.1                               Consultant is an independent contractor and is not an employee, partner, or co-venturer of, or in any other service relationship with, the Company and this Agreement does not create an employer-employee relationship between Company and Consultant.  The Consultant is not entitled to any employee benefits, coverage or privileges, including, without limitation, social security, unemployment protection, medical insurance, pension payments, and the like, made available to employees of Company.

 

2.2                               Consultant will pay all required taxes on Consultant’s income from Company under this Agreement.  The Company will not withhold taxes on any amounts paid to Consultant.  Accordingly, the Consultant is responsible for all tax withholding, social security, unemployment insurance and other such payments,

 

	
Confidential
    	
 
    	
CFO Engagement
    

 

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ARTICLE 3 - COMPENSATION FOR CONSULTING SERVICES

 

3.1                               The Company shall pay to Consultant $200 per hour for services rendered to the Company under this Agreement.  Consultant shall submit monthly statements of services performed and hours worked in the previous month.  Invoices are due and payable upon receipt but under no circumstances will remain unpaid beyond fourteen days of receipt by the Company.

 

ARTICLE 4 - TERM AND TERMINATION

 

4.1                               This Agreement shall be effective as of October 28, 2010 and shall continue in full force and effect for one year unless terminated by the Company or the Consultant.  The agreement may be renewed thirty (30) days prior to the date of expiration.

 

The Company or Consultant may terminate the Agreement upon fifteen (15) days with prior written notice.

 

Termination for Cause.  The Company may immediately terminate Consultant’s engagement for Cause upon written notice of termination to Consultant, with the particular Cause being specified in such notice.  “Cause” means any of the following in the Company’s judgment:  (a) Consultant’s conduct, failure or omission which has, or may have, a material adverse effect on the Company; (b) Consultant’s act or acts amounting to gross negligence or willful misconduct to the detriment of the Company; (c) Consultant’s fraud or embezzlement of funds or property: or (d) Consultant’s failure to observe or perform any covenant, condition or provision of this Agreement.

 

4.2                               The provisions of Articles 5 of this Agreement shall survive the termination of this Agreement and remain in full force and effect thereafter.

 

ARTICLE 5 - INVENTIONS, CONFIDENTIAL AND PROPRIETARY INFORMATION

 

5.1                               Inventions

 

5.1.1                     The Consultant hereby assigns to the Company all right, title and interest in and to any inventions, copyrightable works, discoveries, designs, processes, formulas, know-how, data and analysis that Consultant conceives, reduces to practice, or creates in the performance of the Consulting Services to the Company under this Agreement (“Inventions”).  Upon conception, reduction to practice, or creation of any Invention, the Consultant will communicate such fact to Company promptly, in writing.  Upon request by the Company, the Consultant will assist in the preparation and execution of documents (including patent applications and assignments thereof) and take all other action that the Company may reasonably request in order to vest in the Company all of the Consultant’s right, title, and interest in and to any Invention.  The provisions of this Section will survive any termination or expiration of this Agreement.

 

5.1.2                     The Consultant will promptly disclose to the Company all Inventions and will create and maintain adequate written records to document the conception and/or first actual

 

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reduction to practice of any Invention.  Such written records will be available to the Company and will be deemed property of the Company.

 

5.1.3                     The Consultant warrants that he has the right to make the assignments made by the Consultant hereunder, and further warrants that no Inventions incorporated into any services provided hereunder will infringe any patent, copyright, trademark, trade secret or other propriety right of any third party.

 

5.2                               Proprietary and Confidential Information.

 

5.2.1                     The Consultant acknowledges that his relationship with the Company is one of high trust and confidence and that in the course of his service to the Company he will have access to and contact with Proprietary Information and Confidential information as defined below.  The Consultant agrees that he will not, during the Term or at any time thereafter, disclose to others, or use, directly or indirectly, for his benefit or the benefit of others, entity or organization other than the Company or disclose such Proprietary Information, Confidential Information or Invention without the written authorization of the President or Chief Executive Officer of the Company, either during the term of this Agreement and for a period of 10 years thereafter.

 

5.2.2                     For purposes of this Agreement, Proprietary Information will mean all material information (whether or not Confidential, patentable or copyrightable) owned, possessed or used by the Company, including, without limitation, any Invention, formula, vendor information, customer information, apparatus, equipment, trade secret, process, research, report, technical data, know-how, computer program, software, software documentation, hardware design, technology, marketing or business plan, forecast, unpublished financial statement, budget, license, price, cost and employee list that is communicated to, learned of, developed or otherwise acquired by the Consultant in the course of his service as a Consultant to the Company.

 

5.2.3                     For purpose of this Agreement, Confidential Information means material information, not generally known, and proprietary to the Company or to a third party for whom the Company is performing work, including, without limitation, information concerning any patents or trade secrets, confidential plans, research and development, sales and marketing plans or any other material confidential information or proprietary aspects of the business of the Company.  All information which Consultant acquires or becomes acquainted with during the period of this Agreement, whether developed by Consultant or by others, which Consultant has a reasonable basis to believe to be Confidential Information, or which is treated by the Company as being Confidential Information, shall be presumed to be Confidential Information.

 

5.2.4                     The Consultant’s obligations under this Section 5 will not apply to any information that (i) was fully in the Consultant’s possession prior to receipt from the Company as evidenced by Consultant’s written records, (ii) is or becomes part of the public domain under circumstances involving no breach by the Consultant of this Section 5, (iii) is lawfully received by Consultant from a third party having a right of further disclosure and

 

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did not obtain the information from Company, or (iv) independently developed by Consultant without reference to Company’s Proprietary Information as evidenced by Consultant’s written records.

 

5.3                               At Company’s request, the Consultant will promptly deliver to the Company or destroy all records, files, memoranda, notes, designs, data, reports, drawings, plans, computer programs, sketches, laboratory and research notebooks and other documents (and all copies or reproductions of such materials) relating to the business of the Company.

 

5.4                               The Consultant represents that his service as a Consultant to the Company pursuant to this Agreement does not, and will not, breach any agreement that obligates him to keep in confidence any confidential or proprietary information of any other party or to refrain from competing, directly or indirectly, with the business of any other party.  The Consultant will not disclose to the Company any trade secrets or confidential or proprietary information of any other party.

 

ARTICLE 6 -

 

6.1                               The Consultant will use good faith efforts in the performance of his obligations under this Agreement.  The Consultant warrants that the services performed under this Agreement will be performed in a professional manner.

 

6.2                               The Consultant will cooperate with the Company’s personnel, will not interfere with the conduct of the Company’s business and will observe all rules, regulations and security requirements of the Company.

 

6.3                               In performing the services under this Agreement, the Consultant will comply with all applicable laws, business conduct and regulatory established by any relevant governmental authority.

 

6.4                               The Consultant is not authorized to assume or create any obligation or responsibility, express or implied, on behalf of, or in the name of, the Company or to bind the Company in any manner.

 

6.5                               Non-Solicitation.  During the Term, and for a period of twelve (12) months thereafter, the Consultant agrees not to solicit or induce any employee of the Company to terminate his or her employment with the Company, and not to hire any employee of the Company without the Company’s prior written approval.  General advertisements by the Consultant not directed at any particular employee of the other shall not be construed as a violation of this Section 6.5.

 

ARTICLE 7 - GENERAL PROVISIONS

 

7.1                              This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts.

 

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7.2                               EQUITABLE RELIEF.  Consultant agrees that any breach of Sections 5 and 6 above by him/her would cause irreparable damage to the Company and that, in the event of such breach, the Company shall have, in addition to any and all remedies of law, the right to an injunction, specific performance or other equitable relief to prevent the violation or threatened violation of Consultant’s obligations hereunder, without the requirement of having to post bond.

 

7.3                               This Agreement constitutes the complete agreement and sets forth the entire understanding and agreement of the panics as to the subject matter of this Agreement and supersedes all prior discussions and understandings in respect to the subject of this Agreement, whether written or oral.

 

7.4                               No modification, termination or attempted waiver of this Agreement, or any provision thereof, shall be valid unless in writing signed by the party against whom the same is sought to be enforced.

 

7.5                               No delay or omission by the Company in exercising any right under this Agreement will operate as a waiver of that or any other right.

 

7.6                               In the event that any provision of this Agreement will be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions will in no way be affected or impaired thereby.

 

IN WITNESS WHEREOF, this Agreement is executed as of the date set forth above.

 

	
KARYOPHARM THERAPEUTICS, INC.
    	
 
    	
ALAN T. BARBER
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
By: 
    	
/s/ Michael G. Kauffman
    	
 
    	
By: 
    	
/s/ Alan T. Barber
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name: 
    	
Michael G. Kauffman, MD, PhD
    	
 
    	
Date:  
    	
10/28/10
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title: 
    	
Director and Founder
    	
 
    	
 
    	
 
    

 

5Exhibit 10.11

 

CONSULTING AGREEMENT

 

THIS CONSULTING AGREEMENT (the “Agreement”), made this 1st day of September, 2012 is entered into by Karyopharm Therapeutics Inc., a Delaware corporation (the “Company”), and Mirza Consulting, a Denmark company with its principal place of business at Måløvgårdsvej 23, 2750 Ballerup, Denmark (the “Consultant”).

 

INTRODUCTION

 

The Company and the Consultant desire to establish the terms and conditions under which the Consultant will provide services to the Company.  In consideration of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, the parties agree as follows:

 

1.1                               Services.  The Consultant agrees to perform such consulting, advisory and related services to and for the Company as may be reasonably requested from time to time by the Company, including, but not limited to, the services specified on Schedule A to this Agreement using the employee(s) and Subcontractor(s) (as defined below) of the Consultant set forth on such Schedule A, and any other employee, Subcontractor or agent of the Consultant approved in writing by the Company (the “Employees”).  The Consultant also agrees to provide the Company with related services that may be requested from time to time by the Company.  The Consultant shall not engage the services of third party contractors, subcontractors or consultants (each, a “Subcontractor”) in the performance of the services without the prior written consent of the Company, which may be granted or withheld in its sole discretion.  In the event that the Company permits the Consultant to use the services of one or more Subcontractors, each such Subcontractor shall sign a written agreement agreeing to be bound by all of the provisions of this Agreement to the same extent as the Consultant and the Employees.  The Company shall have no responsibility or obligation to any such Subcontractor.

 

2.                                      Term.  This Agreement shall commence on the date hereof and shall continue until August 31, 2014 (such period, as it may be extended or sooner terminated in accordance with the provisions of Section 4, being referred to as the “Consultation Period”).

 

3.                                      Compensation.

 

3.1                               Consulting Fees.  The Company shall pay to the Consultant a consulting fee of $10,000 per month to be increased to $16,000 per month effectiv January 1, 2013.  Payment for any partial month shall be prorated.

 

3.2                               Expenses.  The Company shall reimburse the Consultant for all reasonable and necessary documented out of pocket expenses incurred or paid by the Consultant in connection with, or related to, the performance of its services under this Agreement.  The Consultant shall submit to the Company itemized monthly statements, in a form satisfactory to the Company, of such expenses incurred in the previous month.  The Company shall pay to the Consultant amounts shown on each such statement within thirty (30) days after receipt thereof.

 

 

3.3                               Benefits.  The Consultant and its Employees shall not be entitled to any benefits, coverages or privileges, including, without limitation, health insurance, social security, unemployment, medical or pension payments, made available to employees of the Company.

 

4.                                      Termination.  This Agreement may be terminated prior to August 31, 2015 in the following manner: (a) by either the Company or the Consultant upon not less than thirty (30) days prior written notice to the other party; (b) by the non-breaching party, upon twenty-four (24) hours prior written notice to the breaching party if one party has materially breached this Agreement; or (c) at any time upon the mutual written consent of the parties hereto.  In the event of termination, the Consultant shall be entitled to payment for services performed and (subject to the limitation in Section 3.2) for expenses paid or incurred prior to the effective date of termination that have not been previously paid.  Such payment shall constitute full settlement of any and all claims of the Consultant of every description against the Company.  Notwithstanding the foregoing, the Company may terminate this Agreement effective immediately by giving written notice to the Consultant if the Consultant breaches or threatens to breach any provision of Sections 6, 7 or 10.

 

5.                                      Cooperation.  The Consultant shall use its best efforts in the performance of its obligations under this Agreement.  The Company shall provide such access to its information and property as may be reasonably required in order to permit the Consultant to perform its obligations hereunder.  The Consultant shall cooperate with the Company’s personnel, shall not interfere with the conduct of the Company’s business and shall observe all rules, regulations and security requirements of the Company concerning the safety of persons and property.

 

6.                                      Proprietary Information and Inventions.

 

6.1                               Proprietary Information.

 

(a)                                 The Consultant acknowledges that its relationship with the Company is one of high trust and confidence and that in the course of its service to the Company it will have access to and contact with Proprietary Information.  The Consultant will not disclose any Proprietary Information to any person or entity other than employees of the Company or use the same for any purposes (other than in the performance of the services) without written approval by an officer of the Company, either during or after the Consultation Period, unless and until such Proprietary Information has become public knowledge without fault by the Consultant.

 

(b)                                 For purposes of this Agreement, Proprietary Information shall mean, by way of illustration and not limitation, all information, whether or not in writing, whether or not patentable and whether or not copyrightable, of a private, secret or confidential nature, owned, possessed or used by the Company, concerning the Company’s business, business relationships or financial affairs, including, without limitation, any Invention, formula, vendor information, customer information, apparatus, equipment, trade secret, process, research, report, technical or research data, clinical data, know-how, computer program, software, software documentation, hardware design, technology, product, processes, methods, techniques, formulas, compounds, projects, developments, marketing or business plan, forecast, unpublished financial statement, budget, license, price, cost, customer, supplier or personnel information or employee 

 

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list that is communicated to, learned of, developed or otherwise acquired by the Consultant in the course of its service as a consultant to the Company.

 

(c)                                  The Consultant’s obligations under this Section 6.1 shall not apply to any information that (i) is or becomes known to the general public under circumstances involving no breach by the Consultant or others of the terms of this Section 6.1, (ii) is generally disclosed to third parties by the Company without restriction on such third parties, or (iii) is approved for release by written authorization of an officer of the Company.

 

(d)                                 The Consultant agrees that all files, documents, letters, memoranda, reports, records, data sketches, drawings, models, laboratory notebooks, program listings, computer equipment or devices, computer programs or other written, photographic, or other tangible material containing Proprietary Information, whether created by the Consultant or others, which shall come into its custody or possession, shall be and are the exclusive property of the Company to be used by the Consultant only in the performance of its duties for the Company and shall not be copied or removed from the Company’s premises except in the pursuit of the business of the Company.  All such materials or copies thereof and all tangible property of the Company in the custody or possession of the Consultant shall be delivered to the Company, upon the earlier of (i) a request by the Company or (ii) the termination of this Agreement.  After such delivery, the Consultant shall not retain any such materials or copies thereof or any such tangible property.

 

(e)                                  The Consultant agrees that its obligation not to disclose or to use information and materials of the types set forth in paragraphs (b) and (d) above, and its obligation to return materials and tangible property set forth in paragraph (d) above extends to such types of information, materials and tangible property of customers of the Company or suppliers to the Company or other third parties who may have disclosed or entrusted the same to the Company or to the Consultant.

 

(f)                                   The Consultant acknowledges that the Company from time to time may have agreements with other persons or with the United States Government, or agencies thereof, that impose obligations or restrictions on the Company regarding inventions made during the course of work under such agreements or regarding the confidential nature of such work.  The Consultant agrees to be bound by all such obligations and restrictions that are known to him and to take all action necessary to discharge the obligations of the Company under such agreements.

 

6.2                               Inventions.

 

(a)                                 All inventions, ideas, creations, discoveries, computer programs, works of authorship, data, developments, technology, designs, innovations and improvements (whether or not patentable and whether or not copyrightable) which are made, conceived, reduced to practice, created, written, designed or developed by the Consultant, solely or jointly with others or under its direction and whether during normal business hours or otherwise, (i) during the Consultation Period if related to the business of the Company or (ii) after the Consultation Period if resulting or directly derived from Proprietary Information (as defined below) (collectively under clauses (i) and (ii), “Inventions”), shall be the sole property of the 

 

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Company.  The Consultant hereby assigns to the Company all 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 the Company as its duly authorized attorney to execute, file, prosecute and protect the same before any government agency, court or authority.  However, this paragraph shall not apply to Inventions which do not relate to the business or research and development conducted or planned to be conducted by the Company at the time such Invention is created, made, conceived or reduced to practice and which are made and conceived by the Consultant not during normal working hours, not on the Company’s premises and not using the Company’s tools, devices, equipment or Proprietary Information.

 

(b)                                 Upon the request of the Company and at the Company’s expense, the Consultant shall execute such further assignments, documents and other instruments as may be necessary or desirable to fully and completely assign all Inventions to the Company and to assist the Company 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.  The Consultant also hereby waives all claims to moral rights in any Inventions.

 

(c)                                  The Consultant shall promptly disclose to the Company all Inventions and will maintain adequate and current written records (in the form of notes, sketches, drawings and as may be specified by the Company) to document the conception and/or first actual reduction to practice of any Invention.  Such written records shall be available to and remain the sole property of the Company at all times.

 

7.                                      Non-Solicitation.  During the Consultation Period and for a period of six (6) months thereafter, the Consultant shall not, either alone or in association with others, (i) solicit, or permit any organization directly or indirectly controlled by the Consultant to solicit, any employee of the Company to leave the employ of the Company; (ii) solicit for employment, hire or engage as an independent contractor, or permit any organization directly or indirectly controlled by the Consultant to solicit for employment, hire or engage as an independent contractor, any person who is employed or engaged by the Company; and/or (iii) solicit, divert or take away, the business or patronage of any of the clients, customers or accounts or prospective clients, customers or accounts, of the Company that were contacted, solicited or served by the Consultant on behalf of the Company during the term of the Consultant’s engagement with the Company.

 

8.                                      Other Agreements.  The Consultant and its Employees hereby represent that, except as the Consultant and its Employees have disclosed in writing to the Company, the Consultant and its Employees are not bound by the terms of any agreement with any third party to refrain from using or disclosing any trade secret or confidential or proprietary information in the course of their consultancy with the Company, to refrain from competing, directly or indirectly, with the business of such third party or to refrain from soliciting employees, customers or suppliers of such third party.  The Consultant and its Employees further represent that their performance of all the terms of this Agreement and the performance of the services as a consultant of the Company do not and will not breach any agreement with any third party to which the Consultant and/or its Employees are a party (including, without limitation, any nondisclosure or non-competition agreement), and that the Consultant and its Employees will not 

 

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disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any current or previous employer or others.

 

9.                                      Independent Contractor Status.

 

9.1                               The Consultant and its Employees shall perform all services under this Agreement as “independent contractors” and not as employees or agents of the Company.  The Consultant and its Employees are not authorized to assume or create any obligation or responsibility, express or implied, on behalf of, or in the name of, the Company or to bind the Company in any manner.

 

9.2                               The Consultant and its Employees shall have the right to control and determine the time, place, methods, manner and means of performing the services.  In performing the services, the amount of time devoted by the Consultant and its Employees on any given day will be entirely within the Consultant’s and its Employees’ control, and the Company will rely on the Consultant and its Employees to put in the amount of time necessary to fulfill the requirements of this Agreement.  The Consultant and its Employees will provide all equipment and supplies required to perform the services.  The Consultant and its Employees are not required to attend regular meetings at the Company.  However, upon reasonable notice, the Consultant and its Employees shall meet with representatives of the Company at a location to be designated by the parties to this Agreement.

 

9.3                               In the performance of the services, the Consultant and its Employees have the authority to control and direct the performance of the details of the services, the Company being interested only in the results obtained.  However, the services contemplated by the Agreement must meet the Company’s standards and approval and shall be subject to the Company’s general right of inspection and supervision to secure their satisfactory completion.

 

9.4                               The Consultant and its Employees shall not use the Company’s trade names, trademarks, service names or servicemarks without the prior approval of the Company.

 

9.5                               The Consultant and its Employees shall be solely responsible for all state and federal income taxes, unemployment insurance and social security taxes in connection with this Agreement and for maintaining adequate workers’ compensation insurance coverage.

 

10.                               Non-Exclusivity and Non-Competition.  The Consultant and its Employees retain the right to contract with other companies or entities for their consulting services without restriction; provided, that during the Consultation Period and for a period of six (6) months thereafter, the Consultant and its Employees may not contract with any business or enterprise that is competitive with the Company’s business, including, but not limited to, any business or enterprise that develops, manufactures, markets, or sells any product or service that competes with any product or service developed, manufactured, marketed or sold, or planned to be developed, manufactured, marketed or sold, by the Company.  The Company retains a right to contract with other companies and/or individuals for consulting services without restriction.

 

11.                               Remedies.  The Consultant and its Employees acknowledge that any breach of the provisions of Sections 6, 7 or 10 of this Agreement shall result in serious and irreparable injury to the Company for which the Company cannot be adequately compensated by monetary 

 

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damages alone.  The Consultant and its Employees agree, therefore, that, in addition to any other remedy it may have, the Company shall be entitled to enforce the specific performance of this Agreement by the Consultant and its Employees and to seek both temporary and permanent injunctive relief (to the extent permitted by law) without the necessity of proving actual damages or posting a bond.

 

12.                               Indemnification.  The Consultant shall be solely liable for, and shall indemnify, defend and hold harmless the Company and its successors and assigns from any claims, suits, judgments or causes of action initiated by any third party against the Company where such actions result from or arise out of the services performed by the Consultant or its Employees under this Agreement.  The Consultant shall further be solely liable for, and shall indemnify, defend and hold harmless the Company and its successors and assigns from and against any claim or liability of any kind (including penalties, fees or charges) resulting from the Consultant’s or its Employees’ failure to pay the taxes, penalties, and payments referenced in Section 9 of this Agreement.  The Consultant shall further indemnify, defend and hold harmless the Company and its successors and assigns from and against any and all loss or damage resulting from any misrepresentation, or any non-fulfillment of any representation, responsibility, covenant or agreement on its part, as well as any and all acts, suits, proceedings, demands, assessments, penalties, judgments of or against the Company relating to or arising out of the activities of the Consultant or its Employees and the Consultant shall pay reasonable attorneys’ fees, costs and expenses incident thereto.

 

13.                               Representations, Warranties and Covenants.

 

13.1                        The Consultant hereby represents, warrants and covenants that the Employees are and will be subject to binding, written agreements that (a) provide for the assignment of all Inventions to the Consultant and require Employees to protect Proprietary Information at least to the same extent as provided in Section 6 of this Agreement and (b) include restrictions on the ability of Employees to solicit hire or engage employees or independent contractors of the Company at least to the same extent as provided in Section 7 of this Agreement and (c) include restrictions on the ability of Employees to compete with the Company at least to the same extent as provided in Section 10.  The Consultant represents, warrants and covenants that it has provided to the Company all such agreements executed on or prior to the date hereof, and will promptly provide copies of all such agreements executed after the date hereof.

 

13.2                        The Consultant hereby covenants that it shall be liable for the acts and omissions of the Employees, including without limitation any breach of this Agreement or violation of law.

 

13.3                        The Consultant hereby represents, warrants and covenants that it and the Employees have the skills and experience necessary to perform the services, that it and the Employees will perform said services in a professional, competent and timely manner, that it has the power to enter into this Agreement and that its and the Employees’ performance hereunder will not infringe upon or violate the rights of any third party or violate any federal, state or municipal laws.

 

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14.                               Notices.  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 to the other party at the address shown above, or at such other address or addresses as either party shall designate to the other in accordance with this Section 14.

 

15.                               Pronouns.  Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice versa.

 

16.                               Entire Agreement.  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.

 

17.                               Amendment.  This Agreement may be amended or modified only by a written instrument executed by both the Company and the Consultant.

 

18.                               Non-Assignability of Contract.  The Consultant shall not have the right to assign any of its rights or delegate any of its duties without the express written consent of the Company.  Any non-consented-to assignment or delegation, whether express or implied or by operation of law, shall be void and shall constitute a breach and a default by the Consultant.

 

19.                               Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts without giving effect to any choice or conflict of law provision or rule that would cause the application of laws of any other jurisdiction.

 

20.                               Successors and Assigns.  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, the Company 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 him.

 

21.                               Interpretation.  If any restriction set forth in Section 6, Section 7 or Section 10 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable.

 

22.                               Survival.  Sections 4 through 23 shall survive the expiration or termination of this Agreement.

 

23.                               Miscellaneous.

 

23.1                        No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right.  A waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion.

 

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23.2                        The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement.

 

23.3                        In the event that any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

 

[Remainder of Page Intentionally Left Blank]

 

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

 

	
 
    	
KARYOPHARM   THERAPEUTICS INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Kauffman
    
	
 
    	
 
    	
 
    
	
 
    	
Name:   
    	
Michael   Kauffman
    
	
 
    	
 
    	
 
    
	
 
    	
Title:   
    	
President   and CEO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
CONSULTANT
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mansoor Raza Mirza
    
	
 
    	
 
    	
 
    
	
 
    	
Name:   
    	
Mansoor   Raza Mirza
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    

 

Signature Page to Consulting Agreement

 

 

SCHEDULE A

 

Description of Services

 

Clinical advisor role for all clinical studies, including design of protocols, selection of investigators and ongoing study support.

 

Employees

 

Mansoor Raza Mirza, MD

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