Document:

Exhibit 10.17

SEVERANCE AGREEMENT

This
Agreement is entered into as of the 30th day of November, 2006 (the “Effective Date”) by and between ImmunoGen,
Inc., a Massachusetts corporation (the “Company”)
and Walter A. Blattler, Ph.D. (the “Executive”).

WHEREAS,
the Executive is the Executive Vice
President, Science and Technology (“EVP”)
of the Company;

WHEREAS,
the Company recognizes that the Executive’s service to the Company is very
important to the future success of the Company;

WHEREAS,
the Executive desires to enter into this Agreement to provide the Executive
with certain financial protection in the event that his employment terminates
under certain conditions following a change in control of the Company; and

WHEREAS
the Board of Directors of the Company (the “Board”)
has determined that it is in the best interests of the Company to enter into
this Agreement.

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Company and the Executive hereby agree as
follows:

1.             Definitions.

(a)           Cause.  For purposes of this
Agreement, “Cause”
shall mean that Executive has (i) intentionally committed an act or omission
that materially harms the Company; (ii) been grossly negligent in the
performance of Executive’s duties to the Company; (iii) willfully failed or
refused to follow the lawful and proper directives of the Board or the CEO;
(iv) been convicted of, or pleaded guilty or nolo
contendre, to a felony; (v) committed an act involving moral
turpitude; (vi) committed an act relating to the Executive’s employment or the
Company involving, in the good faith judgment of the Board, material fraud or
theft; (vii) breached any material provision of this Agreement or any
nondisclosure or non-competition agreement between Executive and the Company,
as all of the foregoing may be amended prospectively from time to time; or
(viii) breached a material provision of any code of conduct or ethics policy in
effect at the Company, as all of the foregoing may be amended prospectively
from time to time.

(b)           Change in Control.  For purposes of this Agreement, a “Change in Control” shall mean the occurrence of any of the following
events; provided that “Change in Control” shall be interpreted in a manner, and
limited to the extent necessary, so that it will not cause adverse tax
consequences for either party with respect to Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), and
the provisions of Treasury Notice 2005-1, and any successor statute, regulation
and guidance thereto:

(i)            Ownership.  Any “Person” (as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended)
becomes the “Beneficial Owner” (as defined in Rule 13d-3 under said Act),
directly or indirectly, of securities of the Company representing 50% or more
of the total voting power represented by the Company’s then 

outstanding voting securities (excluding for this purpose any such
voting securities held by the Company or its Affiliates (as defined in the
Company’s 2006 Employer, Director and Consultant Equity Incentive Plan) or by
any employee benefit plan of the Company) pursuant to a transaction or a series
of related transactions which the Board does not approve; or

(ii)           Merger/Sale
of Assets.  (A) A merger or consolidation
of the Company whether or not approved by the Board, other than a merger or
consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity or the parent of such corporation) at least 50% of the total
voting power represented by the voting securities of the Company or such
surviving entity or parent of such corporation, as the case may be,
outstanding immediately after such merger or consolidation; or (B) the
stockholders of the Company approve an agreement for the sale or disposition by
the Company of all or substantially all of the Company’s assets; or

(iii)          Change in Board Composition.  A
change in the composition of the Board, as a result of which fewer than a
majority of the directors are Incumbent Directors.  “Incumbent Directors” shall mean directors
who either (A) are directors of the Company as of November 11, 2006, or
(B) are elected, or nominated for election, to the Board with the affirmative
votes of at least a majority of the Incumbent Directors at the time of such
election or nomination (but shall not include an individual whose election or
nomination is in connection with an actual or threatened proxy contest relating
to the election of directors to the Company).

(c)           Disability.  For purposes of this
Agreement, “Disability” shall mean that Executive (i) is unable to
engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than
twelve (12) months, or (ii) is, by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can
be expected to last for a continuous period of not less than twelve (12)
months, receiving income replacement benefits for a period of not less than
three (3) months under a Company-sponsored group disability plan.  Whether the Executive has a Disability will
be determined by a majority of the Board based on evidence provided by one or
more physicians selected by the Board and approved by Executive, which approval
shall not be unreasonably withheld.

(d)           Good Reason.  For purposes of this
Agreement, “Good Reason”
shall mean the occurrence of one or more of the following without the Executive’s
consent: (i) a change in the principal location at which the Executive performs
his duties for the Company to a new location that is at least forty (40) miles
from the prior location; (ii) a material change in the Executive’s authority,
functions, duties or responsibilities as EVP of the Company, which would cause
his position with the Company to become of less responsibility, importance or
scope than his position on the date of this Agreement or as of any subsequent
date prior to the Change in Control, provided, however, that such material
change is not in connection with the termination of the Executive’s employment
by the Company for Cause or death or Disability and further provided that it
shall not be considered a material change if the Company becomes a subsidiary
of another entity and Executive continues to 

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hold the position of EVP in the subsidiary; or (iii) a reduction in the
EVP’s annual base salary or (iv) a reduction in the EVP’s target annual
bonus as compared to the target annual bonus set for the previous fiscal year.

2.             Term of Agreement.  The
term of this Agreement (the “Term”) shall commence on the Effective Date and
shall continue in effect for two (2) years; provided, however,
that commencing on second anniversary of the Effective Date and continuing each
anniversary thereafter, the Term shall automatically be extended for one (1)
additional year unless, not later than nine (9) months before the conclusion of
the Term, the Company or the Executive shall have given notice not to extend
the Term; and further provided, however, that if a Change in Control shall have
occurred during the Term, the Term shall expire on the last day of the
twenty-fourth (24th) month following the month in which such Change in Control
occurred.  Notice of termination or
termination of this Agreement shall not constitute Cause or Good Reason (both
terms as defined above).

3.             Termination; Notice; Severance Compensation.

(a)           In the event that within a period of two (2) months before or two (2)
years following the consummation of a Change in Control the Company elects to
terminate the Executive’s employment other than for Cause (but not including
termination due to the Executive’s Disability), then the Company shall give the
Executive no less than sixty (60) days advance notice of such termination (the “Company’s
Notice Period”); provided that the Company may elect to require the
Executive to cease performing work for the Company so long as the Company
continues the Executive’s full salary and benefits during the Company’s Notice
Period.

(b)           In the event that within a period of two (2) months before or two (2)
years following the consummation of a Change in Control the Executive elects to
terminate his employment for Good Reason, then the Executive shall give the
Company no less than thirty (30) days and no more than (60) days advance notice
of such termination (the “Executive’s Notice Period”); provided that the
Company may elect to require the Executive to cease performing work for the
Company so long as the Company continues the Executive’s full salary and
benefits during the Executive’s Notice Period. 
In order to effect a termination for Good Reason pursuant to this
Agreement, the Executive must notice his intent to terminate for Good Reason
not later than ninety (90) days following the occurrence of the Good Reason.

(c)           In the event that within a period of two (2) months before or two (2)
years following the consummation of a Change in Control the Executive’s
employment with the Company is terminated by the Company other than for Cause
(but not including termination due to the Executive’s death or Disability), or
by the Executive for Good Reason, then, contingent upon the Executive’s
execution of a release of claims against the Company in a form reasonably
acceptable to the Company (the “Release”) the Executive shall be entitled to, in
addition to any amounts due to the Executive for services rendered prior to the
termination date:

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(i)  the Executive’s target
annual bonus for the fiscal year in which such termination occurs at 100% of
such target annual bonus, pro-rated by the number of calendar days in which the
Executive is employed by the Company during the applicable year, including any
applicable Notice Period which shall be paid no later than the tenth business
day following the effective date of the Release; and

(ii)  a lump sum payment from the Company in an
amount equal to one and one-half (1.5) times the Executive’s highest Annual
Salary, which shall be paid no later than the tenth business day following the
effective date of the Release;

(iii)  all outstanding options, restricted stock and
other similar rights held by the Executive, which shall become one hundred
percent (100%) vested; and

(iv)  continuation of medical insurance coverage
for Executive and Executive’s family, subject to COBRA and subject to Executive’s
payment of a premium co-pay related to the coverage that is no less favorable
than the premium co-pay charged to active employees of the Company electing the
same coverage, for eighteen (18) months from the Separation Date; provided,
that the Company shall have no obligation to provide such coverage if Executive
fails to elect COBRA benefits in a timely fashion or if Executive becomes
eligible for medical coverage with another employer.

For purposes of this Agreement, “Annual Salary” shall mean the Executive’s annual base salary then in effect or, if
higher, in effect at the time of the Change in Control, excluding
reimbursements and amounts attributable to stock options and other non-cash
compensation; and the “Severance
Compensation” shall mean the compensation set forth in (ii), (iii),
and (iv) above.

(d)           Notwithstanding any other provision with respect to the timing of
payments, if, at the time of Executive’s termination, Executive is deemed to be
a “specified employee” (within the meaning of Code Section 409A, and any
successor statute, regulation and guidance thereto) of the Company, then
limited only to the extent necessary to comply with the requirements of Code
Section 409A, any payments to which Executive may become entitled under this
Agreement which are subject to Code Section 409A (and not otherwise exempt from
its application) will be withheld until the first (1st) business day of the
seventh (7th) month following the termination of Executive’s employment, at
which time Executive shall be paid an aggregate amount equal to the accumulated,
but unpaid, payments otherwise due to Executive under the terms of this
Agreement.

(e)           If any payment or benefit Executive would receive under this Agreement,
when combined with any other payment or benefit Executive receives pursuant to
a Change in Control (“Payment”) would (i) constitute a “parachute payment”
within the meaning of Code Section 280G, and (ii) but for this sentence, be
subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”),
then such Payment shall be either (x) the full amount of such Payment or (y)
such less amount as would result in no portion of the Payment being subject to
the Excise Tax, whichever of the foregoing amounts, taking into account the
applicable federal, state, and local employments taxes, income taxes, and the
Excise Tax results in Executive’s receipt, on an after-tax basis, of the
greater amount of the Payment, notwithstanding that all or some portion of the
Payment may be subject to the 

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Excise Tax.  The Executive shall
be allowed to specify which payment(s) or benefit(s) shall be reduced if
necessary to implement this section and avoid the excise tax application.  The Company shall provide the Executive with
sufficient information to make such determination and to file and pay any required
taxes.

4.             No Duplication of Compensation.  The
Severance Compensation shall replace, and be provided in lieu of, any severance
or similar compensation that may be provided to the Executive under any other
agreement or arrangement in relation to termination of employment; provided,
however, that this prohibition against duplication shall not be construed to
otherwise limit the Executive’s rights to payments or benefits provided under
any pension plan (as defined in Section 3(2) of the Employee Retirement Income
Security Act of 1974, as amended), deferred compensation, stock, stock option
or similar plan sponsored by the Company.

5.             No Mitigation.  If
the Executive’s employment with the Company terminates following a Change in
Control, the Executive is not required to seek other employment or to attempt
in any way to reduce any amounts payable to the Executive by the Company
pursuant to Section 3 or Section 15. 
Except as set forth in Section 4, the amount of any payment or benefit
provided for in this Agreement shall not be reduced by any compensation earned
by the Executive as the result of employment by another employer, by retirement
benefits, by offset against any amount claimed to be owed by the Executive to
the Company, or otherwise.

6.             Confidentiality, Non-Competition, and
Assignment of Inventions.  The Company’s obligations under this
Agreement are contingent upon the Executive’s execution of the Company’s
Proprietary Information, Inventions, and Competition Agreement (the “Proprietary
Information Agreement”).  The parties
agree that the obligations set forth in the Proprietary Information Agreement
shall survive termination of this Agreement and termination of the Executive’s
employment, regardless of the reason for such termination.

7.             Enforceability.  If
any provision of this Agreement shall be deemed invalid or unenforceable as
written, this Agreement shall be construed, to the greatest extent possible, or
modified, to the extent allowable by law, in a manner which shall render it
valid and enforceable.  No invalidity or
unenforceability of any provision contained herein shall affect any other
portion of this Agreement.

8.             Notices.  Except as otherwise
specifically provided herein, any notice required or permitted by this
Agreement shall be in writing and shall be delivered as follows with notice
deemed given as indicated: (i) by personal delivery when delivered personally;
(ii) by overnight courier upon written verification of receipt; (iii) by
telecopy or facsimile transmission upon acknowledgment of receipt of electronic
transmission; or (iv) by certified or registered mail, return receipt
requested, upon verification of receipt. 
Notices to Executive shall be sent to the last known address in the
Company’s records or such other address as Executive may specify in
writing.  Notices to the Company shall be
sent to the Company’s Chairman and Lead Director or to such other Company
representative as the Company may specify in writing.

9.             Claims for Benefits.  All
claims by the Executive for benefits under this Agreement shall be directed to
and determined by the Board and shall be in writing.  Any denial by the Board of a claim for
benefits under this Agreement shall be delivered to the Executive in writing
and shall set forth 

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the specific reasons for the denial and the specific provisions of this
Agreement relied upon.  The Board shall
afford a reasonable opportunity to the Executive for a review of the decision
denying a claim and shall further allow the Executive to appeal to the Board a
decision of the Board within sixty (60) days after notification by the Board
that the Executive’s claim has been denied.

10.           Modifications and Amendments.  The
terms and provisions of this Agreement may be modified or amended only by
written agreement executed by the Company and the Executive.  The Company and the Executive agree that they
will jointly execute an amendment to modify this Agreement to the extent
necessary to comply with the requirements of Code Section 409A, or any
successor statute, regulation and guidance thereto; provided that no
such amendment shall increase the total financial obligation of the Company under
this Agreement.

11.           Waivers and Consents.  The
terms and provisions of this Agreement may be waived, or consent for the
departure therefrom granted, only by a written document executed by the party
entitled to the benefits of such terms or provisions.  No such waiver or consent shall be deemed to
be or shall constitute a waiver or consent with respect to any other terms or
provisions of this Agreement, whether or not similar.  Each such waiver or consent shall be
effective only in the specific instance and for the purpose for which it was
given, and shall not constitute a continuing waiver or consent.

12.           Binding Effect; Assignment.  The
Agreement will be binding upon and inure to the benefit of (a) the heirs,
executors and legal representatives of the Executive upon the Executive’s death
and (b) any successor of the Company. 
Any such successor of the Company will be deemed substituted for the Company
under the terms of the Agreement for all purposes.  For this purpose, “successor” means any
person, firm, corporation or other business entity which at any time, whether
by purchase, merger or otherwise, directly or indirectly acquires all or
substantially all of the assets or business of the Company.  None of the rights of the Executive to
receive any form of compensation payable pursuant to the Agreement may be
assigned or transferred except by will or the laws of descent and
distribution.  Any other attempted
assignment, transfer, conveyance or other disposition of the Executive’s right
to compensation or other benefits will be null and void.

13.           Governing Law.  This
Agreement and the rights and obligations of the parties hereunder shall be
construed in accordance with and governed by the law of the Commonwealth of
Massachusetts, without giving effect to the conflict of law principles thereof.

14.           Jurisdiction and Service of Process.  Any
legal action or proceeding with respect to this Agreement shall be brought in
the courts of the Commonwealth of Massachusetts or of the United States of
America for the District of Massachusetts. 
By execution and delivery of this Agreement, each of the parties hereto
accepts for itself and in respect of its property, generally and
unconditionally, the jurisdiction of the aforesaid courts.

15.           Attorneys’ Fees.  The
Company shall pay to the Executive all legal fees and expenses incurred by the
Executive in disputing in good faith any issue hereunder relating to the termination
of the Executive’s employment, in seeking in good faith to obtain or enforce
any benefit or right

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provided by this Agreement.  Such
payments shall be made within five (5) business days after delivery of the
Executive’s written requests for payment accompanied with such evidence of fees
and expenses incurred as the Company reasonably may require.

16.           Withholding.  The Company is authorized to withhold, or to cause
to be withheld, from any payment or benefit under the Agreement the full amount
of any applicable withholding taxes.

17.           Tax Consequences.  The
Company does not guarantee the tax treatment or tax consequences associated
with any payment or benefit arising under this Agreement.

18.           Acknowledgment.  The Executive acknowledges that he has had
the opportunity to discuss this matter with and obtain advice from his private
attorney, has had sufficient time to, and has carefully read and fully
understands all the provisions of the Agreement, and is knowingly and
voluntarily entering into the Agreement.

19.           Counterparts.  This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

IN
WITNESS WHEREOF, the parties have executed and delivered this Severance Agreement
as of the day and year first above written.

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  IMMUNOGEN, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Daniel M. Junius

  
	
   

  	
  Chief Financial
  Officer and

  
	
   

  	
  Executive Vice
  President, Finance

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Walter A.
  Blattler, Ph.D.

  
				

 

 7Exhibit 10.18

PROPRIETARY INFORMATION, INVENTIONS, AND COMPETITION AGREEMENT

AGREEMENT, dated this 30th day of November 2006, by and between
ImmunoGen, Inc., a Massachusetts corporation having its principal place of
business at 128 Sidney Street, Cambridge, Massachusetts 02139 (the “Company”),
and Walter A. Blattler, Ph.D., an individual residing at 197 Mason Terrace,
Brookline, MA 02446 (“Employee”).

WITNESSETH:

WHEREAS, the Employee has been hired by the Company
to perform certain services; and

WHEREAS, the Employee may be exposed, have access
to, create or make contributions to the Proprietary Information as defined
below and/or inventions of the Company;

NOW, THEREFORE, in consideration for the Company’s
employment of the Employee, and for other good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the parties covenant
and agree as follows:

1.             Acknowledgements. The Employee understands and acknowledges
that:

(a)           As part of his/her services as an employee of the Company, he/she may
be exposed or have access to, or make new contributions and inventions of value
to, the past, present and future business, products, operations and policies of
the Company.

(b)           His/Her position as an employee creates a relationship of confidence
and trust between the Employee and the Company with respect to (i) information
which is related or applicable to the Company’s Field of Interest (as defined
in 1(c) below) and the manner in which the Company engages in business in such
Field of Interest, and (ii) information which is related or applicable to the
business of the Company or any client, customer, joint venture or other person
with which the Company has a business relationship, (a ”Business Associate”),
any of which information has been or may be made known to the Employee by the
Company (including, without limitation, any member of the Company’s Scientific
Advisory Board) or by any Business Associate of the Company, or any of which
has been otherwise learned by the Employee as a result of or in connection with
his/her service as an employee of the Company.

(c)           The Company possesses and will continue to possess information that has
been created by, discovered by, developed by or otherwise become known to the
Company (including, without limitation, information created, discovered,
developed or made known by the Employee related to or arising out of his/her
service as an employee of the Company) and/or in which property rights have
been assigned or otherwise conveyed to the Company, which information has
commercial value to its business interests and/or in the Field of Interest in
which the Company is presently engaged or will be engaged.  The term “Field of Interest” shall mean the
development of products based on monoclonal antibodies or other biological
molecules capable of binding to specific tissue, or the conjugation of
monoclonal antibodies or other biological molecules capable of binding to
specific tissue with other substances, for use in the treatment, diagnosis or
prevention of cancer and/or other diseases. 
During an individual’s employment, the term “Field of Interest” may be
expanded from time to time to include such other areas of therapy,

diagnosis or prevention as
may be designated by the Company. All of the aforementioned information is
hereinafter called “Proprietary Information.” By way of illustration, but not
limitation, formulas, data, know-how, improvements, inventions, techniques,
marketing plans, strategies, forecasts, and customer lists are Proprietary
Information.

2.             Proprietary Information.

(a)           All Proprietary Information shall be the sole property of the Company
and its successors and assigns, and the Company and its successors and assigns
shall be the sole owner of all patents and other rights in connection therewith.
The Employee hereby assigns to the Company any rights he/she may have or
acquire in such Proprietary Information, and agrees to take such action and
sign such documents from time to time as the Company reasonably requires to
effect or confirm such assignment.

(b)           At all times, both during the term of this Agreement and thereafter
until such information becomes known to the public, the Employee will, subject
to the provisions of Section 3 hereof regarding publication, keep in confidence
and trust all Proprietary Information and any other confidential information of
the Company, and he/she will not use or disclose any Proprietary Information or
anything relating to it without the prior written consent of the Company,
except as may be necessary in the ordinary course of performing his/her duties
as an employee of the Company or as required by law; provided that if
disclosure is required by law, the Employee agrees to provide the Company with
written notice of such disclosure obligation prior to making such disclosure
and no more than two (2) days after the Employee learns of such disclosure
requirement.

(c)           All documents, records, apparatus, equipment and other physical
property, whether or not pertaining to Proprietary Information, furnished to
the Employee by the Company or produced by the Employee or others in connection
with the Employee’s services hereunder shall be and remain the sole property of
the Company. The Employee will return and deliver such property to the Company
as and when requested by the Company. Should the Company not so request at an
earlier time, the Employee shall return and deliver all such property upon
termination of his/her service as an employee to the Company for any reason,
and the Employee will not take with him/her any such property or any
reproduction of such property upon such termination.

3.             Inventions.

(a)           The Employee will promptly disclose to the Company, or any persons
designated by it, all improvements, inventions, formulas, processes,
techniques, know-how and data, whether or not patentable, made or conceived or
reduced to practice or learned by him/her, either alone or jointly with others,
related to or arising out of his/her position as an employee or which are
related to or useful in the business of the Company, or result from tasks which
have been or may be assigned to the Employee by the Company or result from use
of premises owned, leased or contracted for by the Company (all said
improvements, inventions, formulas, processes, techniques, know-how and data
being hereinafter collectively called “Inventions”).

(b)           The Employee agrees that all Inventions shall be the sole property of
the Company and its assigns, and the Company and its assigns shall be the sole
owner of all patents and other rights in connection therewith. The Employee
hereby assigns to the Company any rights he/she may have or acquire in such
Inventions. The Employee further agrees as to 

 2
 

all such Inventions to
assist the Company in every reasonable manner (but at the Company’s expense) to
obtain, and from time to time enforce, patents on said Inventions in any and
all countries, and to that end the Employee will execute all documents for use
in applying for and obtaining such patents thereon and enforcing the same, as
the Company may desire, together with any assignments thereof to the Company or
persons designated by it. The Employee’s obligation to assist the Company in
obtaining and enforcing patents for such Inventions in any and all countries
shall continue beyond the termination of his/her employment by the Company, but
the Company shall compensate the Employee at a reasonable rate after such
termination for time actually spent by him/her at the Company’s request on such
assistance. In the event that the Company is unable for any reason whatsoever
to secure the Employee’s signature to any lawful and necessary documents
required to apply for or execute any patent application with respect to such an
Invention (including renewals, extensions, continuations, divisions or
continuations in part thereof), the Employee hereby irrevocably designates and
appoints the Company and its duly authorized officers and agents, as his/her
agents and attorneys-in-fact to act for and on his/her behalf and instead of
him/her, to execute and file any such application and to do all other lawfully
permitted acts to further the prosecution and issuance of patents thereon with
the same legal force and effect as if executed by the Employee, and such power
of attorney created hereby is coupled with an interest.

4.             Competition.  While the Employee is employed
by the Company and for a period of twelve (12) months following the termination
of the Employee’s employment (the “Noncompetition Period”), regardless of the
reason for such termination, the Employee shall not, for himself/herself or on
behalf of any other person or entity, directly or indirectly, whether as
principal, partner, agent, independent contractor, stockholder, employee,
consultant, representative or in any other capacity, own, manage, operate or
control, be concerned or connected with, or employed by, or otherwise associate
in any manner with, engage in or have a financial interest in any business that
is engaged in the Field of Interest, anywhere in the world, except that nothing
in this Agreement shall preclude the Employee from (a) purchasing or owning
securities of any such business if such securities are publicly traded, and
provided that the Employee’s holdings do not exceed three (3%) percent of the
issued and outstanding securities of any class of securities of such business;
or (b) working for any academic or government institutions.  For the purposes of this paragraph only,
following termination of the Executive’s employment, the term “Field of
Interest” shall be limited to mean the development of products based on the
conjugation of monoclonal antibodies or other biological molecules capable of
binding to specific tissue with other substances, for use in the treatment,
diagnosis or prevention of cancer and/or other diseases.

5.             Solicitation of Employees. 
During the Noncompetition Period the Employee shall not, either
individually or on behalf of or through any third party, directly or indirectly
(a) entice, solicit or encourage any director, employee or consultant to leave
the Company, or (b) be involved for any entity other than the Company in the
recruitment, engagement, or hiring of any Company director or employee.  This section shall prohibit the aforesaid
activities by the Employee with respect to any person both while such person is
a director, employee or consultant of the Company and for thirty (30) days
thereafter.

6.             Publications.  The
Employee agrees to consult with the Company prior to publishing (in writing or
by seminar, lecture or other oral presentation) any material relating to
his/her activities that relate to the Company’s Field of Interest, and to
furnish copies of any such publication (written or oral) to the Company for
prior clearance at least sixty (60) days prior to the proposed publication. The
Company agrees to review such submissions and to apply for patents as promptly
as practicable so as to avoid or keep to a minimum any delay in publishing
material of scientific importance.

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7.             Prior Work and
Legal Obligations

(a)           By signing this Agreement, the Employee
represents that she/he has no agreement with or other legal obligation to any
prior employer or any other person or entity that restricts his/her ability to
engage in employment discussions, to accept employment with, or to perform any
function for the Company.

(b)           The Employee also acknowledges that the
Company has advised the Employee that at no time, either during any
pre-employment discussions or at any time thereafter, should the Employee
divulge to or use for the benefit of the Company any trade secret or
confidential or proprietary information of any previous employer.  By signing this Agreement, the Employee
affirms that she/he has not divulged or used any such information for the
benefit of the Company, and that she/he has not and will not misappropriate any
proprietary information of a former employer that the Employee played any part
in creating while working for such former employer.

8.             Provisions
Necessary and Reasonable/Injunctive Relief The Employee specifically agrees that the provisions of Sections 1-5 of
this Agreement are necessary and reasonable to protect the Company’s
Proprietary Information, goodwill and business interests.  The Employee acknowledges that given his/her
skills and work experience, such restrictions will not prevent the Employee
from earning a living in his/her general field of occupation during the term of
such restrictions.  The Employee further
agrees that a breach or threatened breach by the Employee of Sections 1-5 of
this Agreement would pose the risk of irreparable harm to the Company, and that
in the event of a breach or threatened breach of any of such covenants, without
posting any bond or security, the Company shall be entitled to seek and obtain
equitable relief, in the form of specific performance, or temporary,
preliminary or permanent injunctive relief, or any other equitable remedy which
then may be available.  The seeking of
such injunction or order shall not affect the Company’s right to seek and
obtain damages or other equitable relief on account of any such actual or
threatened breach.

9.             Disclosure to
Future and Prospective Employers.  The Employee agrees that so long as this
Agreement is effective the Employee will notify his/her employers of this
Agreement and that the Company may notify any of the Employee’s future or
prospective employers or other third parties of this Agreement and may provide
a copy of this Agreement to such parties without the Employee’s further
consent.

10.           Transfer, Promotion
or Reassignment.  The Employee acknowledges and agrees that if she/he should transfer
between or among any affiliates of the Company or be promoted or reassigned to
functions other than the Employee’s present functions, all terms of this
Agreement shall continue to apply with full force.

11.           Severability.  The
parties intend this Agreement to be enforced as written.  However, if any portion or provision of this
Agreement shall to any extent be declared illegal or unenforceable by a duly
authorized court having jurisdiction, both parties desire that such portion or
provision be modified by such a court so as to make it enforceable (“blue-penciled”),
and that the remainder of this Agreement be enforced to the fullest extent
permitted by law.  In the event that such
court deems any provision of this Agreement wholly unenforceable, then all remaining
provisions shall nevertheless remain in full force and effect.

12.           Notices.  Except as otherwise
specifically provided herein, any notice required or permitted by this
Agreement shall be in writing and shall be delivered as follows with notice
deemed given as indicated: (i) by personal delivery when delivered personally;
(ii) by overnight courier upon written 

 4
 

verification of receipt; (iii) by telecopy or facsimile transmission
upon acknowledgment of receipt of electronic transmission; or (iv) by certified
or registered mail, return receipt requested, upon verification of
receipt.  Notices to Employee shall be
sent to the last known address in the Company’s records or such other address
as Employee may specify in writing. 
Notices to the Company shall be sent to the Company’s Chairman or to
such other Company representative as the Company may specify in writing.

13.           Binding Effect.  The
Agreement will be binding upon and inure to the benefit of (a) the heirs,
executors and legal representatives of the Employee upon the Employee’s death
and (b) any successor of the Company. 
Any such successor of the Company will be deemed substituted for the
Company under the terms of the Agreement for all purposes.  For this purpose, “successor” means any
person, firm, corporation or other business entity which at any time, whether
by purchase, merger or otherwise, directly or indirectly acquires all or
substantially all of the assets or business of the Company.  The Employee’s obligations hereunder shall
survive the termination of the Employee’s employment by the Company, regardless
of the reason for such termination.

14.           Waivers. No waivers, express or implied, of any breach of this agreement shall
be held or construed as a waiver of any other breach of the same or any other
covenant, agreement or duty hereunder.

15.           Governing Law.  This
agreement shall be construed and enforced in accordance with the law of the
Commonwealth of Massachusetts, without giving effect to conflict of law
principles.  This agreement represents
the entire agreement of the parties with respect to the subject matter hereof,
and may only be amended or modified by a written instrument signed by the
parties.

16.           Meaning of Headings.  The
headings in this Agreement are for convenience only, and both parties agree
that they shall not be construed or interpreted to modify or affect the
construction or interpretation of any provision of this Agreement.

 

IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date first above written.

	
   

  	
  IMMUNOGEN, INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Daniel M. Junius

  	
   

  
	
   

  	
  Chief Financial
  Officer and

  	
   

  
	
   

  	
  Executive Vice
  President, Finance

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Employee
  Signature

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
   

  
				

 

 5

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