Document:

Exhibit

October 14, 2019

Frederick Driscoll
2 Longbranch Ave
Rockport, MA 01966

		
	Re:
	Offer of employment at Conformis, Inc.

Dear Frederick: 
We are very pleased to invite you to join Conformis, Inc., a Delaware corporation (the “Company”), as a temporary employee.
1.Duties and Responsibilities.  Your assignment will be as Chief Financial Officer – Interim, reporting to Mark Augusti.  It is understood and agreed that this assignment is temporary and is scheduled to last no later than December 31, 2019, unless extended by the Company in writing. During your time with the Company, you will be expected to work out of the Company’s offices in Billerica, Massachusetts.
2.    Compensation.  Your initial semi-monthly salary will be $15,000.00, payable in accordance with the Company’s customary payroll practice. Your salary is subject to periodic review and adjustment by the Company’s Management. 
3.    Confidential Information; Employee Confidential Information, Inventions, Non-Competition, and Non-Solicitation Agreement.  To enable the Company to safeguard its proprietary and confidential information, it is a condition of employment that you agree to sign the Company’s standard form of “Employee Confidential Information, Inventions, Non-Competition, and Non-Solicitation Agreement.” A copy of this agreement is enclosed for your review.  We understand that you are likely to have signed similar agreements with prior employers, and wish to impress upon you that the Company does not want to receive the confidential or proprietary information of others, and will support you in respecting your lawful obligations to prior employers.
4.    At-Will Employment.  Should you decide to accept our offer, you will be an “at-will” employee of the Company.  This means that either you or the Company may terminate the employment relationship with or without cause at any time.  Notwithstanding section 1 above, you understand and agree that your employment may be terminated at any time, including at any time before December 31, 2019.

600 Technology Park Drive | Billerica, MA 01821 | T. 781.345.9001 | F. 781.345.0147

Page 2 of 2        

5.    Authorization to Work.  Federal government regulations require that all prospective employees present documentation verifying their identity and demonstrating that they are authorized to work in the United States.  If you have any questions about this requirement, which applies to U.S. citizens and non-U.S. citizens alike, please contact me as soon as possible.
6.    Complete Offer and Agreement.  This letter contains our complete understanding and agreement regarding the terms of your employment by the Company.  There are no other, different or prior agreements or understandings on this or related subjects.  Changes to the terms of your employment can be made only in a writing signed by you and an authorized executive of the Company, although it is understood that the Company may, from time to time, in its sole discretion, adjust the salaries to you and its other employees, as well as job titles, locations, duties, responsibilities, assignments and reporting relationships. This offer is extended to you, contingent upon acceptance of information as provided by references, background check and completion of our employment application requested by the Company.
7.    Start Date; Acceptance of Offer.  We hope that you will accept this offer promptly, and begin your temporary assignment at the Company by Wednesday, October 23, 2019 or a mutually agreeable date.  If our offer is acceptable to you, please sign this letter in the space indicated and fax it to my attention at 781-583-5006. This offer expires in three (3) business days.  You should be aware that this offer is contingent upon a background check.  
Our team was impressed by your accomplishments and potential, and we are enthusiastic at the prospect of your joining us.  I look forward to your early acceptance of this offer, and to your contributions to the growth and success of Conformis, Inc.
Sincerely,

/s/ Allison Baker
Allison Baker
Director, Human Resources
Conformis, Inc.
 

ACCEPTANCE OF EMPLOYMENT OFFER:
I accept the offer of temporary employment by Conformis, Inc. on the terms described in this letter.
Signature: /s/ Frederick W. Driscoll            
Date:  October 17, 2019                
My start date will be:    October 23, 2019Exhibit

FOURTH AMENDMENT TO AMENDED
AND RESTATED EMPLOYMENT AGREEMENT
This Fourth Amendment to Amended and Restated Employment Agreement (“Amendment”), entered into as of November 2, 2019 (“Amendment Effective Date”), is by and between Conformis, Inc. (“Conformis”) and Mark A. Augusti (“Executive”).
WHEREAS Conformis and Executive are parties to that certain letter agreement of employment dated October 19, 2016, as amended and restated effective December 2, 2016, and all subsequent amendments thereto (“Agreement”);
WHEREAS Conformis and Executive wish to amend the Agreement as stated herein; and
WHEREAS Conformis and Executive wish to confirm and ratify the Agreement, as amended.
NOW, THEREFORE, for and in consideration of the mutual covenants and promises herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
		
	1.
	Definitions.  Each capitalized term used but not defined in this Amendment shall have the meaning given to it in the Agreement, subject to any amendment of such term in this Amendment.

		
	2.
	Amended Provisions.  Conformis and Executive agree that, as of the Amendment Effective Date:

		
	a.
	Section 9 of the Agreement is hereby deleted in its entirety and amended as follows:

“In connection with your employment with the Company, you will be expected to continue your regular presence at the Company’s offices, and to maintain your secondary residence, in Massachusetts.  In order to assist you with the costs associated with performing your role at the Company’s Massachusetts offices, the Company shall provide you during your employment with a cost-of-living allowance (“COLA”) in the gross amount of $44,642.86 payable quarterly, less required tax withholding.  In addition, within ten (10) days of the Amendment Effective Date, the Company shall provide you with a one-time catch-up COLA payment in the gross amount of $5,952.71, less required tax withholding.”;
		
	b.
	Section 13.B of the Agreement is hereby deleted in its entirety and amended as follows:

“If a Qualifying Termination occurs (x) prior to three (3) months before or (y) more than twenty-four (24) months following a Change in Control Transaction, and the Qualifying Termination occurs on or after the two (2)-year anniversary of the Effective Date:  (i) the Company will provide you with severance pay in the form of continuation of your base salary for a total of eighteen (18) months, such amount to be paid in accordance with the Company’s then-current payroll practices, except as otherwise specified in this letter agreement, beginning on the Company’s first regular payroll date that occurs after the Payment Date; (ii) the Company will pay to you (a) the bonus accrued by the Company for you for the calendar year that is prior to the year in which the Qualifying Termination occurs, provided the Company has not already paid you a Target Bonus (or other annual bonus) for the prior year, and (b) a bonus of seventy-five percent (75%) of your base salary for the calendar year in which the Qualifying Termination occurs; (iii) you will be eligible for the same COBRA premium assistance as set forth in Section 13.A above, subject to the same terms, conditions, and limitations as described therein; and (iv) the vesting of your then-outstanding unvested equity grants, if any, shall be accelerated in a number of shares that would have become vested had you continued as an employee of the Company for eighteen (18) months following a Qualifying Termination.”; and
		
	c.
	Section 13.C of the Agreement is hereby deleted in its entirety and amended as follows:

“If a Qualifying Termination occurs within three (3) months prior or twenty-four (24) months following a Change in Control Transaction, and regardless of whether the Qualifying Termination occurs prior to, on, or after the two (2)-year anniversary of the Effective Date:  (i) the Company will provide you with severance pay in the form of continuation of your base salary for a total of twenty-four (24) months, such amount to be paid in accordance with the Company’s then-current payroll practices, except as otherwise specified in this letter agreement, beginning on the Company’s first regular payroll date that occurs after the Payment Date; (ii) the Company will pay to you the greater of (a) the bonus accrued by the Company for you for the calendar year that is prior to the year in which the Qualifying Termination occurs, provided the Company has not already paid you a Target Bonus (or other annual bonus) for the prior year, and (b) a bonus of seventy-five percent (75%) of your base salary for the calendar year in which the Qualifying Termination occurs and (b) an amount equal to 1.5 times the Target Bonus, to be paid in one lump sum on the Company’s first regular payroll date that occurs after the Payment Date; (iii) you will be eligible for the same COBRA premium assistance as set forth in Section 13.A above, subject to the same terms, conditions, and limitations as described therein; and (iv) the vesting of one hundred percent (100%) of your then-outstanding unvested equity grants shall be accelerated, such that all unvested equity grants vest and become fully exercisable or non-forfeitable as of the date your employment terminates.”
All other terms and conditions of the Agreement remain in full force and effect.
		
	3.
	Counterparts.  This Amendment may be executed in one or more counterparts, all of which will be considered one and the same document, and will become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.  This Amendment may be executed and delivered by facsimile or e-mail transmission with the same effect as if a manually signed original was personally delivered.

		
	4.
	Ratification; Entire Agreement.  This Amendment shall not affect any of the terms or provisions of the Agreement other than those specified in this Amendment, and is only intended to amend, alter, or modify the Agreement as expressly stated herein.  Except as amended hereby, the Agreement remains in effect, enforceable against each of the parties, and is hereby acknowledged and ratified by each of the parties.  This Amendment shall be governed by and subject to the same terms, conditions, provisions, and rules of law or construction that apply according to the Agreement.

IN WITNESS WHEREOF, the parties execute this Amendment as of the Amendment Effective Date.
	
		
	CONFORMIS

By:   /s/ Kenneth P. Fallon III         
   Kenneth P. Fallon III
   Chairman of the Board
	EXECUTIVE

   /s/ Mark A. Augusti         
   Mark A. Augusti

Fourth Amendment to Amended and Restated Employment Agreement
Conformis, Inc. / Mark A. Augusti
Amendment Effective Date:  November 2, 2019    Page 1

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