Document:

Offer Letter Agreement

 Exhibit 10.7 
  

 
 July 21, 2015 (As revised) 

VIA Email 
 Dear Natalie, 

I am very pleased to extend an offer to join Audentes Therapeutics. We believe your experience, talent, and passion will make you a wonderful addition to our
team. The following outlines the terms of our offer. 
  

					
	Position	 	•	  	Senior Vice President, Chief Operating Officer. This position is considered an exempt position for purposes of federal wage-hour law, which means that you will not be eligible for overtime pay.
			
	Responsibilities	 	•	  	In your role you will have operational responsibility for critical functions that directly impact the implementation of the Company’s short and long-term growth strategies. The functions for which you will be directly
accountable are: corporate development, business development, program management, and manufacturing. In addition, you will assume a leadership role in the development of corporate strategy by partnering with me, and involving other senior leaders
and the Company’s Board of Directors, to evolve and implement the strategies that bring maximal value to our stockholders, fellow employees and the patients Audentes exists to serve. In your role of having responsibility for manufacturing, you
will work closely with fellow senior leaders in the build-out and start-up of the Company’s new manufacturing facility in South San Francisco. With the
Business/Corporate Development and Program Management functions, you will immediately assume manager responsibility for all colleagues currently serving in these groups. You will serve as a member of the Senior Leadership Team. Other
responsibilities may be assigned from time to time as the needs of the Company evolve. As a senior executive of the company, you will be expected to represent the company in a professional manner at all times.
			
	Reporting Relationship	 	•	  	You will report to Matthew Patterson, President and Chief Executive Officer of the Company.

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  

					
	Location	 	•	  	You will work from the corporate headquarters located at 101 Montgomery Street, Suite 2650, SF, CA 94104. As the Company evolves, the exact location may change.
			
	Compensation	 	•	  	You will receive a base salary of $350,000 paid semi-monthly (24 payments) less applicable payroll deductions and required withholdings.
			
		 	•	  	You also will be eligible for an annual bonus of up to 25% of your base salary, prorated to your start date for 2015 only, based on achievement of corporate performance (including financial) objectives and personal performance
objectives, payable at the sole discretion of the CEO and the Board of Directors. Annual corporate performance objectives will be those established by the Board of Directors and your annual personal performance objectives will be mutually agreed
upon in writing between you and the CEO. Your annual bonus will only be paid if you are an employee in good standing as of the date established for the payment of annual employee bonuses, and is also subject to applicable payroll deductions and
required withholdings.
			
	Equity	 	•	  	Subject to the approval of the Board of Directors of the Company, you will be granted an option to purchase 385,850 shares of the Company’s Common Stock. This represents approximately 1.3% of the total number of fully diluted
outstanding shares of the Company, on a pro-forma basis, that will exist following the acquisition of CardioGen Sciences, Inc.. This option shall vest, subject to your continued employment with the Company, as
to one fourth (1/4) of the shares on the one year anniversary of your start date, and as to an additional one-sixteenth (1/16th) of the total number of shares subject to the option at the end of each calendar
quarter thereafter. For clarity, the options granted will be fully vested after four years of continuous employment with the Company. Details of the price of these options will be provided in your stock option grant as determined by the Board of
Directors.
			
	Change of Control	 	•	  	In the event of a “change of control” of the Company, you will be provided accelerated vesting of stock options, and other

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  

					
		 		  	severance benefits, in line with other Company executives at your level. Definitions of a “change of control” will be documented in an employment agreement that we will endeavor to provide to you within 60 days of your
hire date. See Exhibit C attached to this offer letter that reflects the severance provisions currently being used with Company executives at your level.
			
	Severance Benefits	 	•	  	While your employment is as an at-will employee, within that meaning under state and federal laws, severance benefits will be provided under specific circumstances. Those severance benefits
will be entirely specified in your employment agreement and will be contained as part of the “change of control” provisions. See Exhibit C attached to this offer letter that reflects the severance provisions currently being used with
Company executives at your level.
			
	Performance Review	 	•	  	Your performance against goals will be verbally reviewed quarterly and annually on a written basis.
			
	Benefits	 	•	  	You will be eligible to participate in the company’s group health and dental plan, as well as the company-sponsored 401k Plan. The details of these plans can be made available to you immediately if you desire and, in any event,
will be provided to you coincidental with your joining the Company.
			
		 	•	  	You will be eligible for 15 days of vacation per year.
			
		 	•	  	In addition to any company paid holidays and your vacation days, you will be encouraged to celebrate your birthday each year by not coming to work that day. This is in keeping with the Company’s desire to celebrate both your
private and professional lives.
			
	Reimbursed Expenses	 	•	  	You will be reimbursed for approved mobile phone, travel and entertainment expenses.

 Please note, your position, duties, goals, reporting relationship, work location and compensation may be modified based on
your performance and evolving needs of the Company. Additionally, the Company reserves the right to modify benefits, contribution and reimbursement levels from time to time, as it deems necessary. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Audentes Therapeutics is an “at will”
employer. That means the employee or the Company have the right to terminate employment, with or without advance notice, and with or without cause. Employees may be demoted and/or disciplined and the terms of their employment may be altered at any
time, with or without cause, at the discretion of the Company. No one other than the President and CEO of the Company has the authority to alter this arrangement, to enter into an agreement for employment for a specified period of time, or to make
any agreement contrary to this policy, and any such agreement must be in writing and signed by an officer of the Company and by the affected employee. 

Audentes Therapeutics is committed to the highest ethical standards. In your work for the Company, you will be expected not to use or disclose any
confidential information, including trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with
training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by Audentes. In addition, you agree that you will not bring onto
Audentes’ premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation of confidentiality. 

This offer of employment is subject to establishing your identity and authorization to work as required by the Immigration Reform and Control Act of 1986
(IRA,) completion of an Employment Verification Form (I-9) and the Employee Non-Disclosure, Inventions, Non-Competition And Non-Solicitation Agreement (Exhibit A) form. Please bring the appropriate documentation as outlined in the I-9 Form on your first day of work. Please note failure to
provide appropriate documentation within 3 days of hire will result in immediate termination of employment in accordance with the terms of the Immigration Reform and Control Act. 

We hope you find this offer of employment agreeable and will indicate your acceptance by signing, dating and returning a copy of this letter and the
Exhibit A. Looking to your acceptance of this offer, we must agree on a start date that is acceptable to both you and the Company which we propose to be August 17, 2015. Please consider that if we have not heard a response from you by
July 24, 2015, we will assume you are no longer interested in joining Audentes and the offer will therefore no longer be valid. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Audentes Therapeutics has set a bold mission for
itself to change the quality of life of the patients we serve as we pursue high standards and meaningful opportunities for both our employees and stockholders. We look forward to hearing that you will join us in this mission. 

 

	
	Sincerely,
	
	/s/ Matthew Patterson
	
	Matthew Patterson
	President and Chief Executive Officer

  

			
	Accepted By:	 	 /s/ Natalie Holles

			
		
	Date:	 	 7/21/15

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Exhibit A 

EMPLOYEE INVENTION ASSIGNMENT AND 

CONFIDENTIALITY AGREEMENT 

In consideration of, and as a condition of my employment with Audentes Therapeutics, Inc., a Delaware corporation with its principal offices
in the State of California (the “Company”), I, as the “Employee” signing this Employee Invention Assignment and Confidentiality Agreement (this “Agreement”), hereby represent to
the Company, and the Company and I hereby agree as follows: 
 1. Purpose of
Agreement. I understand that the Company is engaged in a continuous program of research, development, production and/or marketing in connection with its current and projected business and that it is critical for the Company
to preserve and protect its proprietary information, its rights in certain inventions and works and in related intellectual property rights. Accordingly, I am entering into this Agreement, whether or not I am expected to create inventions or other
works of value for the Company. As used in this Agreement, “Inventions” means inventions, improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs,
databases, mask works, confidential information and trade secrets. 
 2. Disclosure of
Inventions. I will promptly disclose in confidence to the Company, or to any person designated by it, all Inventions that I make, create, conceive or first reduce to practice, either alone or jointly with others, during the
period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable or protectable as trade secrets. 

3. Work for Hire; Assigned
Inventions. I acknowledge and agree that any copyrightable works prepared by me within the scope of my employment will be “works made for hire” under the Copyright Act and that the Company will be considered the
author and owner of such copyrightable works. I agree that all Inventions that I make, create, conceive or first reduce to practice during the period of my employment, whether or not in the course of my employment, and whether or not patentable,
copyrightable or protectable as trade secrets, and that (i) are developed using equipment, supplies, facilities or trade secrets of the Company; (ii) result from work performed by me for the Company; or (iii) relate to the
Company’s business or actual or demonstrably anticipated research or development (the “Assigned Inventions”), will be the sole and exclusive property of the Company. 

4. Excluded Inventions and Other
Inventions. Attached hereto as Attachment A is a list describing all existing Inventions, if any, that may relate to the Company’s business or actual or

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 demonstrably anticipated research or development and
that were made by me or acquired by me prior to the Effective Date (as defined in Section 25, below), and which are not to be assigned to the Company (“Excluded Inventions”). If no such list is attached, I
represent and agree that it is because I have no rights in any existing Inventions that may relate to the Company’s business or actual or demonstrably anticipated research or development. For purposes of this Agreement,
“Other Inventions” means Inventions in which I have or may have an interest, as of the Effective Date or thereafter, other than Assigned Inventions and Excluded Inventions. I acknowledge and agree that if, in
the scope of my employment, I use any Excluded Inventions or any Other Inventions, or if I include any Excluded Inventions or Other Inventions in any product or service of the Company or if my rights in any Excluded Inventions or Other Inventions
may block or interfere with, or may otherwise be required for, the exercise by the Company of any rights assigned to the Company under this Agreement, I will immediately so notify the Company in writing. Unless the Company and I agree otherwise in
writing as to particular Excluded Inventions or Other Inventions, I hereby grant to the Company, in such circumstances (whether or not I give the Company notice as required above), a perpetual, irrevocable, nonexclusive, transferable, world-wide,
royalty-free license to use, disclose, make, sell, offer for sale, import, copy, distribute, modify and create works based on, perform, and display such Excluded Inventions and Other Inventions, and to sublicense third parties in one or more tiers
of sublicensees with the same rights. 
 5. Exception to Assignment. I
understand that the Assigned Inventions will not include, and the provisions of this Agreement requiring assignment of inventions to the Company do not apply to, any invention that qualifies fully for exclusion under the provisions of
Section 2870 of the California Labor Code, which are attached hereto as Attachment B. 
 6.
Assignment of Rights. I agree to assign, and do hereby irrevocably transfer and assign, to the Company: (i) all of my rights, title and interests in and with respect to any Assigned
Inventions; (ii) all patents, patent applications, copyrights, mask works, rights in databases, trade secrets, and other intellectual property rights, worldwide, in any Assigned Inventions, along with any registrations of or applications to
register such rights; and (iii) to the extent assignable, any and all Moral Rights (as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever waive and agree never to assert any Moral Rights I may
have in or with respect to any Assigned Inventions and any Excluded Inventions or Other Inventions licensed to the Company under Section 4, even after termination of my employment with the Company. “Moral
Rights” means any rights to claim authorship of a work, to object to or prevent the modification or destruction of a work, to withdraw from circulation or control the publication or distribution of a work, and any similar right,
regardless of whether or not such right is denominated or generally referred to as a “moral right.” 
 7.
Assistance. I will assist the Company in every proper way to obtain and enforce for the Company all patents, copyrights, mask work rights, trade secret rights and other legal 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 protections for the Assigned Inventions, worldwide. I
will execute and deliver any documents that the Company may reasonably request from me in connection with providing such assistance. My obligations under this section will continue beyond the termination of my employment with the Company;
provided that the Company agrees to compensate me at a reasonable rate after such termination for time and expenses actually spent by me at the Company’s request in providing such assistance. I hereby appoint the Secretary of the Company
as my attorney-in-fact to execute documents on my behalf for this purpose. I agree that this appointment is coupled with an interest and will not be revocable. 

8. Proprietary Information. I understand that my employment by the Company creates a
relationship of confidence and trust with respect to any information or materials of a confidential or secret nature that may be made, created or discovered by me or that may be disclosed to me by the Company or a third party in relation to the
business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company, or any other party with whom the Company agrees to hold such information or materials in confidence (the
“Proprietary Information”). Without limitation as to the forms that Proprietary Information may take, I acknowledge that Proprietary Information may be contained in tangible material such as writings, drawings,
samples, electronic media, or computer programs, or may be in the nature of unwritten knowledge or know-how. Proprietary Information includes, but is not limited to, Assigned Inventions, marketing plans,
product plans, designs, data, prototypes, specimens, test protocols, laboratory notebooks, business strategies, financial information, forecasts, personnel information, contract information, customer and supplier lists, and the non-public names and addresses of the Company’s customers and suppliers, their buying and selling habits and special needs. 

9. Confidentiality. At all times, both during my employment and after its termination, I will keep and hold all
Proprietary Information in strict confidence and trust. I will not use or disclose any Proprietary Information without the prior written consent of the Company in each instance, except as may be necessary to perform my duties as an employee of the
Company for the benefit of the Company. Upon termination of my employment with the Company, I will promptly deliver to the Company all documents and materials of any nature pertaining to my work with the Company, and I will not take with me or
retain in any form any documents or materials or copies containing any Proprietary Information. 
 10. Physical
Property. All documents, supplies, equipment and other physical property furnished to me by the Company or produced by me or others in connection with my employment will be and remain the sole property of the Company. I will
return to the Company all such items when requested by the Company, excepting only my personal copies of records relating to my employment or compensation and any personal property I bring with me to the Company and designate as such. Even if the
Company does not so request, I will upon termination of my employment return to the Company all Company property, and I will not take with me or retain any such items. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 11. No
Breach of Prior Agreements. I represent that my performance of all the terms of this Agreement and my duties as an employee of the Company will not breach any
invention assignment, proprietary information, confidentiality, non-competition, or other agreement with any former employer or other party. I represent that I will not bring with me to the Company or use in
the performance of my duties for the Company any documents or materials or intangibles of my own or of a former employer or third party that are not generally available for use by the public or have not been legally transferred to the Company. 

12. “At Will” Employment. I understand that this Agreement
does not constitute a contract of employment or obligate the Company to employ me for any stated period of time. I understand that I am an “at will” employee of the Company and that my employment can be terminated at any time, with or
without notice and with or without cause, for any reason or for no reason, by either the Company or by me. I acknowledge that any statements or representations to the contrary are ineffective, unless put into a writing signed by the Company. I
further acknowledge that my participation in any stock option or benefit program is not to be construed as any assurance of continuing employment for any particular period of time. 

13. Company Opportunities; Duty Not
to Compete. During the period of my employment, I will at all times devote my best efforts to the interests of the Company, and I will not, without the prior written consent of the Company, engage in, or
encourage or assist others to engage in, any other employment or activity that: (i) would divert from the Company any business opportunity in which the Company can reasonably be expected to have an interest; (ii) would directly compete
with, or involve preparation to compete with, the current or future business of the Company; or (iii) would otherwise conflict with the Company’s interests or could cause a disruption of its operations or prospects. 

14. Non-Solicitation of
Employees/Consultants. During my employment with the Company and for a one (1) year period thereafter, I will not directly or indirectly solicit away employees or consultants of the Company for my own benefit or for the
benefit of any other person or entity, nor will I encourage or assist others to do so. 
 15. Use
of Name & Likeness. I hereby authorize the Company to use, reuse, and to grant others the right to use and reuse, my name, photograph, likeness
(including caricature), voice, and biographical information, and any reproduction or simulation thereof, in any form of media or technology now known or hereafter developed, both during and after my employment, for any purposes related to the
Company’s business, such as marketing, advertising, credits, and presentations. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 16.
Notification. I hereby authorize the Company, during and after the termination of my employment with the Company, to notify third parties, including, but not limited to, actual or potential customers or employers, of the terms
of this Agreement and my responsibilities hereunder. 
 17. Injunctive Relief. I understand
that a breach or threatened breach of this Agreement by me may cause the Company to suffer irreparable harm and that the Company will therefore be entitled to injunctive relief to enforce this Agreement. 

18. Governing Law; Severability. This Agreement is intended to
supplement, and not to supersede, any rights the Company may have in law or equity with respect to the duties of its employees and the protection of its trade secrets. This Agreement will be governed by and construed in accordance with the laws of
the State of California without giving effect to any principles of conflict of laws that would lead to the application of the laws of another jurisdiction. If any provision of this Agreement is invalid, illegal or unenforceable in any respect, such
provision will be enforced to the maximum extent possible, given the fundamental intentions of the parties when entering into this Agreement. To the extent such provision cannot be so enforced, it will be stricken from this Agreement and the
remainder of this Agreement will be enforced as if such invalid, illegal or unenforceable provision had never been contained in this Agreement. 

19. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and
delivered will be deemed an original, and all of which together will constitute one and the same agreement. 
 20.
Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all
prior understandings and agreements, whether oral or written, between the parties hereto with respect to such subject matter. 
 21.
Amendment and Waiver. This Agreement may be amended only by a written agreement executed by each of the parties to this Agreement. No amendment or waiver of, or modification of any
obligation under, this Agreement will be enforceable unless specifically set forth in a writing signed by the party against which enforcement is sought. A waiver by either party of any of the terms and conditions of this Agreement in any instance
will not be deemed or construed to be a waiver of such term or condition with respect to any other instance, whether prior, concurrent or subsequent. 

22. Successors and Assigns; Assignment. Except as
otherwise provided in this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will bind and benefit the parties and their respective successors, assigns, heirs, executors, administrators, and legal representatives.
The Company may assign any of its rights and obligations under this 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Agreement. I understand that I will not be entitled
to assign or delegate this Agreement or any of my rights or obligations hereunder, whether voluntarily or by operation of law, except with the prior written consent of the Company. 

23. Further Assurances. The parties will execute such further documents and instruments and
take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement. Upon termination of my employment with the Company, I will execute and deliver a document or documents in a form reasonably requested by
the Company confirming my agreement to comply with the post-employment obligations contained in this Agreement. 
 24.
Acknowledgement. I certify and acknowledge that I have carefully read all of the provisions of this Agreement and that I understand and will fully and faithfully comply with this Agreement. 

25. Effective Date of Agreement. This Agreement is
and will be effective on and after the first day of my employment by the Company, which is August 17, 2015 (the “Effective Date”). 
  

							
	AUDENTES THERAPEUTICS, INC.:	 		 	Employee:
				
	By:	 	 /s/ David Nagler
	 		 	 /s/ Natalie Holles

				
	Name:	 	 David Nagler
	 		 	 Natalie Holles

				
		 		 		 	Name (Please Print)
				
	Title:	 	 SVP HR & CORP AFFAIRS
	 		 	

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 ATTACHMENT A 

LIST OF EXCLUDED INVENTIONS UNDER SECTION 4 
  

					
	 Title
	  	 Date
	  	 Identifying Number

or Brief Description

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

  

			
	    X     No inventions, improvements, or original works of authorship 

            Additional sheets attached

  

			
	Signature of Employee:	 	 

			
		
	Print Name of Employee:	 	 

			
		
	Date:	 	  

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Exhibit B 

CALIFORNIA LABOR CODE 2870 NOTICE: 

California Labor Code Section 2870 provides as follows: 

Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her
rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those
inventions that either: (1) relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or (2) result from any
work performed by the employee for the employer. To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under California Labor Code Section
2870(a), the provision is against the public policy of this state and is unenforceable. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 Exhibit C 

Change Of Control Language for Employment Agreement 

1. Definitions. 

1.1 Cause. For purposes of this Agreement, “Cause” means (i) Employee’s failure
to satisfactorily perform Employee’s duties after there has been delivered to Employee a written demand for performance which describes the specific deficiencies in Employee’s performance and the specific manner in which Employee’s
performance must be improved, and which provides thirty (30) business days from the date of notice to remedy such performance deficiencies; (ii) Employee’s conviction of or plea of nolo contendere to a felony or a crime involving
moral turpitude which the Board believes has had or will have a detrimental effect on the Company’s reputation or business, (iii) Employee engaging in an act of gross negligence or willful misconduct in the performance of his employment
obligations and duties, (iv) Employee’s committing an act of fraud against, material misconduct or willful misappropriation of property belonging to the Company; (v) Employee engaging in any other misconduct that has had or will have
a material adverse effect on the Company’s reputation or business; or (vi) Employee’s breach of the Employee Invention Assignment and Confidentiality Agreement or other unauthorized misuse of the Company’s trade secrets or
proprietary information. 
 1.2 Change in Control. For purposes of
this Agreement “Change in Control” means (i) a sale, conveyance, exchange or transfer (excluding any venture-backed or similar investments in the Company) in which any person or entity, other
than persons or entities who as of immediately prior to such sale, conveyance, exchange or transfer own securities in the Company, either directly or indirectly, becomes the beneficial owner, directly or indirectly, of securities of the Company
representing more than fifty (50%) percent of the total voting power of all its then outstanding voting securities; (ii) a merger or consolidation of the Company in which its voting securities immediately prior to the merger or consolidation do
not represent, or are not converted into securities that represent, a majority of the voting power of all voting securities of the surviving entity immediately after the merger or consolidation; or (iii) a sale of substantially all of the
assets of the Company or a liquidation or dissolution of the Company. 
 1.3 Disability shall have that meaning set
forth in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). 
 1.4
Good Reason. For purposes of this Agreement, “Good Reason” means any of the following taken without the Employee’s written consent and provided (a) the Company
receives, within thirty (30) days following the occurrence of any of the events set forth in clauses (i) 

  
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Street • Suite 2650 • San Francisco • CA • 94104 • USA 
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 through (iv) below, written notice from the
Employee specifying the specific basis for Employee’s belief that Employee is entitled to terminate employment for Good Reason, (b) the Company fails to cure the event constituting Good Reason within thirty (30) days after receipt of
such written notice thereof, and (c) the Employee terminates employment within the earlier of ten days (10) days following expiration of such cure period or receipt from the Company that such deficiencies will not be cured: (i) a
material change, adverse to Employee, in Employee’s position, titles, offices or duties; (ii) an assignment of any significant duties to Employee that are inconsistent with Employee’s positions or offices held under this Agreement;
(iii) a decrease in Employee’s Base Salary by more than 10% (other than in connection with a general decrease in the base salary of all other executive officers); or (iv) the relocation of the Employee to a facility or a location more
than fifty (50) miles from Employee’s then current location. 
 2. Effect of
Separation from Service. For purposes of this Agreement, no payment will be made to Employee upon termination of Employee’s employment unless such termination constitutes a
“separation from service” within the meaning of Section 409A of the Code, and Section 1.409A-1(h) of the regulations promulgated thereunder. 

2.1 Separation for Cause, Death,
Disability or Voluntary Separation from Service. In the event of any separation from service of Employee’s
employment by the Company for Cause or in the event of the Employee’s death, Disability or voluntary separation from service at any time and for any reason, the Employee will be paid only (i) any earned but unpaid Base Salary, and
(ii) other unpaid vested amounts or benefits under the compensation, incentive and benefit plans of the Company in which Employee participates, and (iii) reimbursement for all reasonable and necessary expenses incurred by Employee in
connection with his performance of services on behalf of the Company in accordance with applicable Company policies and guidelines, in each case as of the effective date of such separation from service (the “Accrued
Compensation”). Employee will be allowed to exercise his vested stock options to purchase Company common stock, if any, during the time period set forth in, and in accordance with, the Plan and governing stock option agreement(s).

 2.2 Separation from Service without
Cause or for Good Reason Prior to a Change
in Control. In the event of the Employee’s separation from service from the Company without Cause or for Good Reason, and provided that Employee delivers to the Company a signed settlement agreement
and general release of claims in favor of the Company in a form reasonably specified by the Company (the “Release”), and satisfies all conditions to make the Release effective, within sixty (60) days following
Employee’s separation from service, then, in addition to the Accrued Compensation, Employee shall be entitled to the following: 

(a) A lump sum cash payment in an amount equal to Six (6) months of Employee’s Base Salary, payable on the Ninetieth (90th) day following the date of Employee’s separation from service; and 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
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 (b) Provided Employee timely
elects to continue health coverage under COBRA, for Employee and/or Employee’s eligible dependents, the Company shall reimburse Employee for any monthly COBRA premium payments made by Employee to continue such coverage for the Twelve
(12) month period measured from the first month following the month in which Employee’s separation from service occurs. 

2.3 Separation from Service Following
a Change in Control. In the event of the Employee’s separation from service from the Company without Cause or for Good Reason, in each case during the
period of time commencing ninety (90) days prior to the execution of a definitive agreement providing for the consummation of a Change in Control and ending on the first anniversary of the consummation of such Change in Control, and provided
that Employee delivers to the Company the signed Release, and satisfies all conditions to make the Release effective, within sixty (60) days following Employee’s separation from service, then, in addition to the Accrued Compensation,
Employee shall be entitled to the benefits as set forth below: 
 (a) The payments set forth above in Sections 9.2(a) and (b);

 (b) Acceleration as to 100% of the unvested shares subject to the Option; 

(c) Acceleration as to 100% of the unvested shares issued to Employee pursuant to the Purchase Agreement; and 

(d) Acceleration as to 100% of the unvested portion of any other equity award granted to the Employee following the Effective Date.

 For the avoidance of doubt, the severance payments and benefits payable pursuant to Section 9.2 or Section 9.3 above are not
cumulative. 
 2.4 Parachute Payments. In the event that the severance and other benefits
provided for in this Agreement or otherwise payable to the Employee (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section, would be subject to the excise tax imposed by
Section 4999 of the Code, then, Employee’s severance and other benefits under this Agreement shall be payable either (i) in full, or (ii) as to such lesser amount which would result in no portion of such severance and other
benefits being subject to the excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in
the receipt by Employee on an after-tax basis, of the greatest amount of severance benefits under this Agreement, notwithstanding that all or some portion of such severance benefits may be taxable under
Section 4999 of the Code. Any reduction shall be made in the following manner: first a pro rata reduction of (i) cash payments subject to Section 409A of the Code as deferred compensation 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.com 

 

 
  
 and (ii) cash payments not subject to Section
409A of the Code, and second a pro rata cancellation of (i) equity-based compensation subject to Section 409A of the Code as deferred compensation and (ii) equity-based compensation not subject to Section 409A of the Code. Reduction in
either cash payments or equity compensation benefits shall be made prorata between and among benefits which are subject to Section 409A of the Code and benefits which are exempt from Section 409A of the Code. Unless the Company and Employee
otherwise agree in writing, any determination required under this Section shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding
upon Employee and the Company for all purposes. For purposes of making the calculations required by this Section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith
interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Employee shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination
under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section. 

  
 101 Montgomery
Street • Suite 2650 • San Francisco • CA • 94104 • USA 
 www.audentestx.comex10-1.htm

Exhibit 10.1

 

SEPARATION AGREEMENT AND GENERAL RELEASE of claims

 

FactSet Research Systems Inc. (“the Company”) and I, Scott Miller (“Employee”), have entered into this Separation Agreement and General Release of Claims (“Agreement”) to settle all known and unknown claims I might have against Company and all related parties. Except to the extent governed by federal law, this Agreement shall be governed by the statutes and common law of Connecticut, excluding any that mandate the use of another jurisdiction’s laws.

 

The Company and I agree as follows:

 

Section 1 -- Benefits

 

(a)     In General: The Company promises that I will receive the benefits set forth in this section that are conditioned on my execution of this Agreement. I understand and agree that I am not otherwise entitled to receive the benefits provided to me under this Agreement. I may not sign this Agreement until after my Termination Date, defined below. I understand that I may revoke this Agreement within 7 days after I sign it, in which case I will not receive the amounts or benefits that are being paid to me under it, and this Agreement will never go into effect. 

 

(b)          Salary Continuation: Although I will not be required to report to work at the Company and I will not be required to perform regular work assignments after April 6, 2017, (“Last Working Day”), whether I sign this Agreement or not, I will continue to receive my regular pay, less all applicable federal, state and local taxes and withholdings, for the period from now through the effective date of my termination on April 21, 2017 (“Termination Date”). During this period, I will remain on active payroll and retain all salary, compensation and employment benefits that I previously enjoyed, including Company medical benefits. I agree, however, to provide information and guidance, as necessary, to assist in the transition of my workload and responsibilities.

 

(c)           Separation Payment: In exchange for signing this Agreement, I will receive a lump sum separation payment of $300,000 (Three Hundred Thousand Dollars and Zero Cents), less all applicable federal, state and local taxes and withholdings. Payment will be made within 15 days after expiration of the revocation period described in Section 5 below.

 

(d)            Equity Awards: The Company will accelerate the vesting of the following outstanding equity awards such that the shares subject to such awards as specified here shall be deemed vested and exercisable as of the Termination Date, subject to the standard terms of the Company’s option agreement: (i) 15,045 of the options granted to you on January 21, 2015; and (ii) 2,029 of the options granted to you on November 1, 2016.

 

(e)             Compensation and Benefit Programs: I waive coverage and benefits under all Company disability programs, but this Agreement does not affect my eligibility for other Company stock option, bonus, incentive compensation, commission, medical, dental, life insurance, retirement and other compensation or benefit plans of the Company or any affiliate. Whether I sign this Agreement or not, I understand that my rights and continued participation in those plans will be governed by their existing terms. After my Termination Date, the Company shall make monthly premium payments of $2,541.51 to be made on my behalf for continuation of health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (COBRA) through December 31, 2017, totaling $22,873.53. Thereafter, I may be able to purchase continued health plan coverage under the normal COBRA health care continuation rules. I understand and acknowledge that it is my responsibility to enroll in COBRA coverage if I elect to do so, and I shall be responsible for all premium payments.

 

 

 

 

 

 

Payments made under this Agreement will not be included in my compensation for purposes of calculating the benefits to which I am entitled under any employee benefit program, notwithstanding anything in it to the contrary.

 

(f)          Outplacement Assistance: I will receive outplacement assistance services, for which the Company will be invoiced directly. For these outplacement services, the Company will pay a total amount not to exceed $25,000.

 

Section 2 -- Complete General Release of Claims

 

(a)     Claims Released: Except for the claims identified in Section 2(b), I irrevocably and unconditionally release (i.e., give up) all known and unknown claims, promises, causes of action, or similar rights of any type that I currently may have (“Claims”) with respect to any Released Party listed in Section 2(c). I understand that I am not releasing future rights or claims, meaning rights or claims that arise after the date I execute this Agreement. I understand that the Claims I am releasing might arise under many different foreign, domestic, national, state, or local laws (including statutes, regulations, other administrative guidance, and common law doctrines), such as the following:

 

Anti-discrimination statutes, such as Title VII of the Civil Rights Act of 1964, Sections 1981 and 1983 of the Civil Rights Act of 1866, and Executive Order 11,246, which prohibit discrimination based on race, color, national origin, religion, or sex; the Age Discrimination in Employment Act (“ADEA”) and Executive Order 11,141, which prohibit age discrimination in employment; the Equal Pay Act, which prohibits paying men and women unequal pay for equal work; the Americans With Disabilities Act (“ADA”) and Sections 503 and 504 of the Rehabilitation Act of 1973, which prohibit discrimination based on disability; the Genetic Information Nondiscrimination Act of 2008 (“GINA”), which prohibits discrimination based on genetic information; and any other federal, state, or local laws prohibiting discrimination in employment based on a protected category, such as actual or perceived race, religion, color, national origin, ancestry, physical or mental disability, medical condition, genetic information, marital status, sex, sexual orientation, or association with a person who has, or is perceived to have, any of those characteristics. 

 

Federal employment statutes, such as the Worker Adjustment and Retraining Notification Act (“WARN Act”), which requires that advance notice be given of certain work force reductions; the Employee Retirement Income Security Act of 1974 (“ERISA”), which, among other things, protects employee benefits; and any other federal laws relating to employment, such as veterans’ reemployment rights laws. 

 

 

 

 

 

 

Other laws, such as any federal, state, or local laws mandating leaves of absence, restricting an employer’s right to terminate employees, or otherwise regulating employment; any federal, state, or local law enforcing express or implied employment contracts or requiring an employer to deal with employees fairly or in good faith; any other federal, state, or local laws providing recourse for alleged wrongful discharge, tort, physical or personal injury, emotional distress, fraud, negligent misrepresentation, defamation, and similar or related claims; any other law relating to salary, commission, compensation, benefits, and other matters; and family and medical leave laws.

 

Examples of released Claims include, but are not limited to the following (except to the extent explicitly preserved by Section 1 or 2(b) of this Agreement): (i) Claims that in any way relate to or arose during my employment with the Company, or the termination of that employment, such as Claims for compensation, bonuses, commissions, lost wages, or unused accrued vacation or sick pay; (ii) Claims that in any way relate to the design or administration of any employee benefit program; (iii) Claims that I have irrevocable or vested rights to severance or similar benefits or to post-employment health or group insurance benefits; (iv) any Claims to attorneys’ fees or other indemnities (such as under the Civil Rights Attorneys’ Fees Act), with respect to Claims I am releasing; or (v) claims under the Connecticut Human Rights and Opportunities Law, the Connecticut Family and Medical Leave Law, the Connecticut Age Discrimination and Employee Insurance Benefits Law, and the Connecticut Smokers’ Rights Law.

 

If, despite this Agreement, I sue or bring an arbitration action asserting any Claim that I have released, I will be liable to the Released Party (as defined below) for its attorneys’ fees, other defense costs, and any other damages that my suit or arbitration causes, except those attributable to ADEA claims. I promise not to accept any relief or remedies not set forth in this Agreement as to any Claim I have released by signing it.

 

(b)     Claims Not Released: This Agreement does not release any claims that the law does not permit me to release. Nothing herein affects my rights to indemnification, reimbursement for business expenses incurred through the Termination Date in accordance with Company policy, payment for accrued but unused vacation in accordance with Company policy, and vested benefits under the Company’s 401(k) plan, subject to the terms of such plan.

 

(c)     Released Parties: The Released Parties are the Company, all current and former parents, subsidiaries, related companies, partnerships, or joint ventures, and, with respect to each of them, their predecessors and successors; and, with respect to each such entity, all of its past, present, and future employees, officers, directors, stockholders, owners, representatives, assigns, attorneys, agents, insurers, employee benefit programs (and the trustees, administrators, fiduciaries, and insurers of such programs), and any other persons acting by, through, under or in concert with any of the persons or entities listed in this subsection, and their successors.

 

 

 

 

 

 

Section 3 -- Promises

 

(a)     Employment Termination: I agree that my employment with the Company and its affiliates has ended or is ending as of my Termination Date, and that I am accepting payments and benefits under this Agreement in lieu of any such other rights or benefits to which I possibly could be or become entitled. I have not been told that the Company or any Released Party will rehire me. I promise not to seek employment with them unless they personally ask me to do so.

 

(b)     Resignation of All Other Positions: Upon termination of my employment, I agree to resign, effective on the Termination Date from all positions that I hold as an officer or member of the Board (or a committee thereof) of the Company or any of its affiliates.

 

(c)           Company Property and Debts: I have returned to the Company all files, memoranda, documents, records, copies of the foregoing, Company-provided credit cards, keys, building passes, security passes, access or identification cards, devices and equipment belonging to the Company (including computers, laptops, tablets, smart phones, handheld electronic devices, telephone equipment, and other electronic devices, including PDAs), and any other property of the Company or any Released Party in my possession or control, other than my car, all with the Company’s consent. The Company will promptly transfer the title of the car to me. I have cooperated with the Company and will cooperate with the Company regarding the proper handling of any digital property of the Company that may be retained in mobile phone or related digital storage devices, media or accounts. I have cleared all expense accounts, repaid everything I owe to the Company or any Released Party, paid all amounts I owe on Company-provided credit cards or accounts (such as mobile or smart phone accounts), and canceled or personally assumed any such credit cards or accounts.

 

(d)     Taxes: I am responsible for paying any taxes on amounts I receive because I signed this Agreement. I agree that the Company is to withhold all taxes it determines it is legally required to withhold. I agree not to make any claim against the Company or any other person based on how the Company reports amounts paid under this Agreement to tax authorities.

 

(e)     Ownership of Claims: I have not assigned or transferred any Claim I am purporting to release, nor have I attempted to do so.

 

(f)            Communication with Government Agency; Immunity: This Agreement does not preclude me from filing an administrative charge or otherwise communicating with any federal, state or local government office, official or agency. I promise never to seek or accept any damages, remedies or other relief for myself personally with respect to any Claim released by Paragraph 2(a) of this Agreement. Nothing in this Agreement is designed to interfere with, restrain, restrict, or prevent communications protected by state or federal law, including as protected by (a) Section 7 of the National Labor Relations Act of 1935 (“NLRA”) (or court order), regarding wages, hours, or other terms and conditions of employment or (b) Exchange Act Rule 21F-17, addressing communications (including by my attorney) with, or testimony before, the SEC, FINRA, or other regulatory authority regarding possible securities law violations. Furthermore, nothing in this Agreement prohibits me from communicating with or reporting possible violations of law or regulation to any federal, state, or local governmental office, official, agency, or entity.  Notwithstanding my confidentiality obligations set forth in this Agreement, I understand that, pursuant to the Defend Trade Secrets Act of 2016, I will not be held criminally or civilly liable under any U.S. 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. I also understand that if I file a lawsuit for retaliation by the Company for reporting a suspected violation of law, I may disclose the trade secret to my attorney and use the trade secret information in the court proceeding, if I (A) file any document containing the trade secret under seal; and (B) do not disclose the trade secret, except pursuant to court order.  I understand that if a disclosure of trade secrets was not done in good faith pursuant to the above, then I may be subject to liability, including, without limitation, punitive damages and attorneys’ fees.

 

 

 

 

 

 

(g)     Mutual Agreement Not to Disparage or Harm: Subject to Section 3(f), I agree not to criticize, denigrate, or disparage any Released Party and, in particular, not to criticize, denigrate, or disparage any current or former employee of the Company. I understand and agree that breach of this provision will result in damages that are difficult to quantify. The Company likewise agrees not to criticize, denigrate, or disparage me or my work in any communication to a third party. I agree not to incur any expenses, obligations, or liabilities on behalf of the Company.

 

(h)     Confidential and Proprietary Information and Existing Obligations: Subject to Section 3(f), I understand that, at all times in the future, I will remain bound by any Company or Company affiliate agreement or policy relating to confidential information, proprietary information, invention, or similar matters to which I am now subject, including but not limited to any FactSet Research Systems Inc. Intellectual Property Agreement which I previously signed, and which is expressly incorporated by reference herein, and I agree that to the extent any provision in such agreement or policy conflicts with any provision in this Agreement, the provision or interpretation affording the greater protection to the Company shall govern. In particular, I acknowledge that my employment by the Company created a relationship of confidence and trust with respect to any information of a confidential or secret nature disclosed to me by the Company or a third party that (i) related to the business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company or any other party with whom the Company agreed to hold information of such party in confidence, (ii) was not generally known to the public or to other persons in the industry, or if generally known, was used, selected or arranged by the Company in a manner not generally known and was made the property of the Company by mutual agreement of the parties, including by the Invention Assignment and Proprietary Information Agreement, and/or similar agreement, and (iii) that the Company has taken reasonable measures under the circumstances to protect from unauthorized use or disclosure (the “Confidential Information”). I agree and represent that I have not disclosed, copied, disseminated, shared or transmitted any Confidential Information to any person, firm, corporation or entity for any reason or purpose whatsoever, except in the course of carrying out my duties and responsibilities of employment with the Company. I also agree, at all times in the future, not to make use of any Confidential Information for my own purposes or for the benefit of any person, firm, corporation or other entity. I further warrant and represent that all Confidential Information in my possession, custody or control that is or was a property of the Company has been or shall be returned to the Company by the date I sign this Agreement.

 

 

 

 

 

 

(i)     Noncompetition, Nonsolicitation of Employees and Customers: 

 

	 	
i.
	
Noncompetition.  Effective from my Termination Date with the Company and its subsidiaries and for one year thereafter, I shall not, directly or indirectly, knowingly own, manage, operate, join or control, be employed by or participate in the ownership, management, operation or control of, or be a consultant to or connected in any other manner with, any business, firm or corporation which competes with a principal business of the Company or its affiliates (a “Competitive Activity”) in North America.  For these purposes, my passive ownership of securities of a public company not in excess of five (5) percent of any class of such securities shall not be considered to be a Competitive Activity with the Company or its affiliates.

 

	 	
ii.
	
Nonsolicitation of Employees.  Effective from my Termination Date with the Company and its subsidiaries and for one year thereafter, I shall not for myself or any person or business entity, knowingly induce or attempt to induce any employee of the Company or an affiliate to terminate employment with the Company or an affiliate or solicit, entice, take away or employ any person employed by the Company or an affiliate.

 

	 	
iii.
	
Nonsolicitation of Customers. I understand and acknowledge that because of my experience with and relationship to the Company, I had access to and learned about much or all of the Company’s customer information. “Customer Information” includes, but is not limited to, names, phone numbers, addresses, e-mail addresses, order history, order preferences, chain of command, pricing information, and other information identifying facts and circumstances specific to the customer and relevant to sales/services.

 

I understand and acknowledge that loss of this customer relationship and/or goodwill will cause significant and irreparable harm. 

 

I agree and covenant, during a period of one year, to run consecutively, beginning on my Termination Date, not to directly or indirectly solicit, contact (including but not limited to e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact, or meet with the Company's current, former or prospective customers for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company. 

 

 

 

 

 

 

This restriction shall only apply to:

 

	 	
iv.
	
Customers or prospective customers I contacted in any way during the past 12 months;

 

	 	
v.
	
Customers about whom I have trade secret or confidential information;

 

	 	
vi.
	
Customers who became customers during my employment with the Company; and

 

	 	
vii.
	
Customers about whom I have information that is not available publicly.

 

(j)     Implementation: I agree to sign any documents and do anything else that in the future is needed to implement this Agreement.

 

(k)     Other Representations: In addition to my other representations in this Agreement, I have made the following representations to the Company, on which I acknowledge it also has relied in entering into this Agreement with me: 

 

	 	
i.
	
I have not suffered any job-related wrongs or injuries, such as any type of discrimination, for which I might still be entitled to compensation or relief in the future. I have properly reported any and all job-related wrongs or injuries for which I might still be entitled to compensation or relief, such as an injury for which I might receive a workers’ compensation award in the future. I have properly reported all hours that I have worked and I have been paid all wages, overtime, commissions, compensation, benefits, and other amounts that the Company or any Released Party should have paid me in the past.

 

	 	
ii.
	
This Agreement is not an admission of wrongdoing by the Company or any other Released Party.

 

	 	
iii.
	
I am intentionally releasing claims that I do not know I might have and that, with hindsight, I might regret having released.

 

	 	
iv.
	
If the Company or I successfully assert that any provision in this Release is void, the rest of the Agreement shall remain valid and enforceable.

 

(l)     False Claims Representations and Promises: I have disclosed to the Company any information I have concerning any conduct involving the Company or any affiliate that I have any reason to believe may be unlawful or that involves any false claims to the United States. I promise to cooperate fully in any investigation the Company or any affiliate undertakes into matters occurring during my employment with the Company or any affiliate. I understand that nothing in this Agreement prevents me from cooperating with any U.S. government investigation. In addition, to the fullest extent permitted by law, I hereby irrevocably assign to the U.S. government any right I might have to any proceeds or awards in connection with any false claims proceedings against the Company or any affiliate.

 

 

 

 

 

 

(m)           Cooperation Required: I agree that when requested by the Company, I will promptly and fully respond to all inquiries from the Company or any affiliate and its representatives relating to any lawsuit in which I am identified as having factual information needed by the Company. To the extent I incur reasonable out-of-pocket expenses (such as postage costs or telephone charges) in assisting the Company or any affiliate at its request, the Company will mail me a reimbursement check for those expenses within 15 days after it receives my request for payment, along with satisfactory written substantiation of the claimed expenses. 

 

(n)           Disclosure:   Nothing herein shall prevent the Company or the Executive from disclosing the terms of this Agreement if required to do so under applicable law or by a court of competent jurisdiction.

 

Section 4 -- Consequences of Violating Promises

 

I agree that the Company would be irreparably harmed by any actual or threatened violation of Section 3 that involves disclosure or use of confidential information, proprietary information, or trade secrets, and that the Company will be entitled to an injunction prohibiting me from committing any such violation. 

 

Section 5 -- Consideration of Agreement

 

I acknowledge that, before signing this Agreement, I was given at least 21 days in which to consider this Agreement. I waive any right I might have to additional time within which to consider this Agreement. I further acknowledge that: (1) I took advantage of the time I was given to consider this Agreement before signing it; (2) I carefully read this Agreement; (3) I fully understand it; (4) I am entering into it voluntarily; (5) I am receiving valuable consideration in exchange for my execution of this Agreement that I would not otherwise be entitled to receive; (6) the Company, by this writing, encouraged me to discuss this Agreement with my attorney (at my own expense) before signing it, and that I did so to the extent I deemed appropriate; and (7) any changes made to this Agreement, whether material or immaterial, will not restart the 21 day consideration period. I understand that I am entitled to revoke this Agreement, in writing, within 7 days once I sign it. Such revocation must be delivered to the Company as provided herein within the 7 day period, in which case I will receive no benefits and this Agreement will not go into effect. If I do not revoke this Agreement, it will become enforceable on the eighth day after I sign it. The Company need not sign this Agreement for it to become effective.

 

 

 

 

 

 

Section 6 -- Miscellaneous

 

(a)          Entire Agreement: In addition to any Company or Company affiliate agreement or policy relating to the confidentiality of Proprietary Information, inventions, or similar matters referenced in Section 3 above, this Agreement is the entire agreement between me and the Company relating to my termination of employment or the subject matter of this Agreement. This Agreement may not be modified or canceled in any manner, nor may any provision of it or any legal remedy with respect to it be waived, except by a writing signed by both me and an authorized Company official. I acknowledge that the Company has made no representations or promises to me (such as that my former position will remain vacant), other than those in or referred to by this Agreement. If any provision in this Agreement is found to be unenforceable, all other provisions will remain fully enforceable.

 

(b)     Successors: This Agreement binds my heirs, administrators, representatives, executors, successors, and assigns, and will inure to the benefit of all Released Parties and their respective heirs, administrators, representatives, executors, successors, and assigns. 

 

(c)     Interpretation: This Agreement shall be construed as a whole according to its fair meaning. It shall not be construed strictly for or against me or any Released Party. Unless the context indicates otherwise, the term “or” shall be deemed to include the term “and” and the singular or plural number shall be deemed to include the other. Captions are intended solely for convenience of reference and shall not be used in the interpretation of this Agreement.

 

Section 7 -- Arbitration of Disputes

 

The Company and I agree to resolve any disputes we may have with each other through final, binding and confidential arbitration consistent with applicable law. For example, I am agreeing to arbitrate any dispute about the validity of this Agreement or any discrimination claim. I also agree to resolve through final, binding and confidential arbitration any disputes I have with any other Released Party who elects to arbitrate those disputes under this subsection. Arbitration shall be conducted by the American Arbitration Association in accordance with its employment dispute resolution rules which can be found at www.adr.org/employment, and consistent with state law. A neutral arbitrator will preside over the arbitration and issue a written decision subject to limited judicial review. The decision shall remain confidential between the parties and shall not be published by the arbitrator or the AAA. All remedies available under law will be available in the Arbitration. The Arbitration proceedings will allow for adequate discovery. Commencement of the Arbitration will be at a minimal cost to me. This agreement to arbitrate does not apply to government agency proceedings. By agreeing to this Agreement, I understand that I am waiving my right to a jury trial.

 

 

 

 

 

  

(remainder of page left intentionally blank)

  

 

You may not make any changes to the terms of this agreement and you may not sign it until the end of your work day on your termination date. 

 

Before signing this agreement, take it home, read it, and carefully consider it. If you choose, discuss it with your attorney (at your own expense). You have 21 days to consider this agreement. If you do not sign and return this agreement within this 21-day period, it automatically expires. 

 

Once you sign this agreement, you will have an additional 7 days to revoke it. If you choose to revoke this agreement, you must deliver a written notice of revocation to:

 

Rachel Stern, General Counsel

 

FactSet Research Systems Inc.

 

601 Merritt 7, Norwalk, CT 06851

  

 

BY SIGNING THIS AGREEMENT, YOU WILL BE WAIVING YOUR KNOWN AND UNKNOWN CLAIMS.

 

Executed at Norwalk, Connecticut, this ninth day of April, 2017, and signed under penalty of perjury under the laws of the state of Connecticut. 

 

 

	
 
	 	
/s/ Scott G. Miller
	
 

	
 
	
 
	
Signature
	
 

 

Executed at Norwalk, CT this ninth day of April, 2017.

 

	
 
	 	
/s/ F. Philip Snow
	
 

	
 
	
 
	
For FactSet Research Systems Inc.

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