Document:

Exhibit 10.1

January
19, 2007

Mr. Kenneth M.
Bate

33 Middle Street

Concord, MA 01742

Dear Ken:

On behalf of the Board of
Directors of NitroMed, Inc. (the “Company”), I am very pleased to formally
offer you the position of President and Chief Executive Officer.  The purpose of this letter is to summarize
the terms of our offer. All of the compensation described in this letter will
be subject to applicable withholdings.

Commencing as of the
Effective Date, your semi-monthly salary will be $16,042, annualized at a rate
of $385,000. Your performance and salary will be reviewed annually and your
salary may be adjusted in accordance with normal business practices and at the
sole discretion of the Board of Directors. 
Your Effective Date for this position is January 19, 2007.

You may be eligible for a
discretionary award of up to 50% of your annualized base salary.  The bonus award, if any, will be based on
both individual and corporate performance and will be determined by the NitroMed
Compensation Committee in its sole discretion. 
In any event, you must be an active employee of the Company on the date
the bonus is distributed in order to be eligible for a bonus award.

While
you remain working for NitroMed, you will continue to be eligible to receive
benefits in accordance with the benefit plans in which the Company
participates, provided that you are eligible under (and subject to all
provisions of) the plan documents governing those programs.  Such benefits may include: participation in
group medical and dental insurance programs, term life insurance, vacation,
holidays, sick time, long-term disability insurance, participation in the
Company’s 401(k) plan, and others.  NitroMed
of course reserves the right on a prospective basis to modify, change or
eliminate its Compensation, Bonus or Benefit programs, at the Company’s sole
discretion.

You will continue to be
eligible to participate in the Company’s stock option program.  Subject to approval by the Compensation
Committee of the Board of Directors, the Company will grant to you an option to
purchase 500,000 shares of the Company’s Common Stock (subject to adjustment
for stock splits, combinations, or other recapitalizations) which will vest
(i.e., become exercisable) over four years in equal annual installments as long
as you remain in the employ of the Company.  The price at which the stock closes on the
grant date of such award will be the

 

exercise price of these
options.  These options will be awarded
in accordance with the terms and conditions of NitroMed’s Amended and Restated
2003 Stock Incentive Plan.

You will continue to be
bound by the terms of the Company’s Invention, Non-Disclosure and Non-Compete
Agreements, previously signed by you.

A separate change in control
agreement will be provided to you that includes details relative to key
definitions, terms and benefits.  In
addition, the Company will execute a separate severance agreement with you,
pursuant to which you will be entitled to receive severance benefits
commensurate with or more favorable than the benefits afforded those employees
who participate in the Company’s Executive Severance Benefit Plan, in
accordance with the provisions set forth in that plan.  Please note that the severance agreement will
not address severance benefits in connection with a change in control, which
will be addressed separately in an individual change in control agreement, as
referenced above.

You represent that you
are not bound by any employment contract, restrictive covenant or other
restriction preventing you from entering into employment with or carrying out
your responsibilities for the Company, or which is in any way inconsistent with
the terms of this letter.  Please note
that this offer letter is your formal offer of appointment and supersedes any
and all prior or contemporaneous agreements, discussions and understandings,
whether written or oral, relating to the subject matter of this letter or your
employment with the Company.  The
resolution of any disputes under this letter will be governed by Massachusetts
law.

If this letter correctly
sets forth the terms under which you will be employed in this new role by the
Company, please sign the enclosed duplicate of this letter in the space
provided below and return it to me.

On behalf of
NitroMed, Inc.,

/s/ Argeris Karabelas

Argeris Karabelas

Chairman

Board of Directors

The foregoing correctly sets forth the terms of my
at-will employment by NitroMed, Inc.

	
  /s/ Kenneth M. Bate

  	
  Date:  

  	
  1/19/07

  	
   

  
	
  Kenneth M. Bate

  	
   

  	
   

  	
   

  

 

 2Exhibit
10.2

NITROMED, INC.

Retention Agreement

THIS RETENTION AGREEMENT (the “Agreement”) by and
between NitroMed, Inc., a Delaware corporation (the “Company”), and Kenneth M.
Bate (the “Employee”) is made as of the date set forth below (the “Effective Date”).

WHEREAS, the Company recognizes that, as is the case
with many publicly-held corporations, the possibility of a change in control of
the Company exists and that such possibility, and the uncertainty and questions
which it may raise among key personnel, may result in the departure or
distraction of key personnel to the detriment of the Company and its
stockholders, and

WHEREAS, the Board of Directors of the Company (the “Board”)
has determined that appropriate steps should be taken to reinforce and encourage
the continued employment and dedication of the Company’s key personnel without
distraction from the possibility of a change in control of the Company and
related events and circumstances.

NOW, THEREFORE, as an inducement for and in
consideration of the Employee remaining in its employ, the Company agrees that
the Employee shall receive the severance benefits set forth in this Agreement
in the event the Employee’s employment with the Company is terminated under the
circumstances described below subsequent to a Change in Control (as defined in
Section 1.1).

1.     Key Definitions.

As used herein, the following terms shall have the
following respective meanings:

1.1           “Change
in Control” means an event or occurrence set forth in any one or more of
subsections (a) through (d) below (including an event or occurrence that
constitutes a Change in Control under one of such subsections but is
specifically exempted from another such subsection):

(a)           the
acquisition by an individual, entity or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership of any capital stock of the Company
if, after such acquisition, such Person beneficially owns (within the meaning
of Rule 13d-3 promulgated under the Exchange Act) 50% or more of either (x) the then-outstanding shares of common
stock of the Company (the “Outstanding Company Common Stock”) or (y) the
combined voting power of the then-outstanding securities of the Company
entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”); provided, however, that for purposes of
this subsection (a), the following acquisitions shall not constitute a Change
in Control: (i) any acquisition directly from the Company (excluding an
acquisition pursuant to the exercise, conversion or exchange of any security
exercisable for, convertible into or exchangeable for common stock or voting
securities of the Company, unless the Person 

 

exercising, converting or exchanging such
security acquired such security directly from the Company or an underwriter or
agent of the Company), (ii) any acquisition by the Company, (iii) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained
by the Company or any corporation controlled by the Company, or (iv) any
acquisition by any corporation pursuant to a transaction which complies with
clauses (i) and (ii) of subsection (c) of this Section 1.1; or

(b)           such
time as the Continuing Directors (as defined below) do not constitute a
majority of the Board (or, if applicable, the Board of Directors of a successor
corporation to the Company), where the term “Continuing Director” means at any
date a member of the Board (i) who was a member of the Board on the date of the
execution of this Agreement or (ii) who was nominated or elected subsequent to
such date by at least a majority of the directors who were Continuing Directors
at the time of such nomination or election or whose election to the Board was
recommended or endorsed by at least a majority of the directors who were
Continuing Directors at the time of such nomination or election; provided,
however, that there shall be excluded from this clause (ii) any
individual whose initial assumption of office occurred as a result of an actual
or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents, by
or on behalf of a person other than the Board; or

(c)           the
consummation of a merger, consolidation, reorganization, recapitalization or
statutory share exchange involving the Company or a sale or other disposition
of all or substantially all of the assets of the Company in one or a series of
transactions (a “Business Combination”), unless, immediately following such
Business Combination, each of the following two conditions is satisfied: (i)
all or substantially all of the individuals and entities who were the
beneficial owners of the Outstanding Company Common Stock and Outstanding
Company Voting Securities immediately prior to such Business Combination
beneficially own, directly or indirectly, more than 50% of the then-outstanding
shares of common stock and the combined voting power of the then-outstanding
securities entitled to vote generally in the election of directors,
respectively, of the resulting or acquiring corporation in such Business
Combination (which shall include, without limitation, a corporation which as a
result of such transaction owns the Company or substantially all of the Company’s
assets either directly or through one or more subsidiaries) (such resulting or
acquiring corporation is referred to herein as the “Acquiring Corporation”) in
substantially the same proportions as their ownership, immediately prior to
such Business Combination, of the Outstanding Company Common Stock and
Outstanding Company Voting Securities, respectively; and (ii) no Person
(excluding any employee benefit plan (or related trust) maintained or sponsored
by the Company or by the Acquiring Corporation) beneficially owns, directly or
indirectly, 50% or more of the then outstanding shares of common stock of the
Acquiring Corporation, or of the combined voting power of the then-outstanding
securities of such corporation entitled to vote generally in the election of
directors (except to the extent that such ownership existed prior to the
Business Combination); or

(d)           approval
by the stockholders of the Company of a complete liquidation or dissolution of
the Company.

 2
 

 

1.2           “Change
in Control Date” means the first date during the Term (as defined in
Section 2) on which a Change in Control occurs.  Anything in this Agreement to the contrary
notwithstanding, if (a) a Change in Control occurs, (b) the Employee’s
employment with the Company is terminated prior to the date on which the Change
in Control occurs, and (c) it is reasonably demonstrated by the Employee
that such termination of employment (i) was at the request of a third party who
has taken steps reasonably calculated to effect a Change in Control or (ii)
otherwise arose in connection with or in anticipation of a Change in Control,
then for all purposes of this Agreement the “Change in Control Date” shall mean
the date immediately prior to the date of such termination of employment.

1.3           “Cause”
means:

(a)           the
Employee’s continued failure to substantially perform his reasonable assigned
duties (other than any such failure resulting from incapacity due to physical
or mental illness or any failure after the Employee gives written notice of
termination for Good Reason), which failure is not cured within 30 days after a
written demand for substantial performance is received by the Employee from the
Board of Directors of the Company which specifically identifies the manner in
which the Board of Directors believes the Employee has not substantially
performed the Employee’s duties; or

(b)           the
Employee’s willful engagement in illegal conduct or gross misconduct which is
materially injurious to the Company.

1.4           “Good
Reason” means the occurrence, without the Employee’s written consent, of
any of the events or circumstances set forth in clauses (a) through (f)
below.  Notwithstanding the occurrence of
any such event or circumstance, such occurrence shall not be deemed to
constitute Good Reason if, prior to the Date of Termination specified in the
Notice of Termination (each as defined in Section 3.2(a)) given by the
Employee in respect thereof, such event or circumstance has been fully
corrected and the Employee has been reasonably compensated for any losses or
damages resulting therefrom (provided that such right of correction by the
Company shall only apply to the first Notice of Termination for Good Reason
given by the Employee).

(a)           the
assignment to the Employee of duties which result in a material diminution of
the Employee’s position (including status, offices, titles and reporting
requirements), authority or responsibilities in effect immediately prior to the
earliest to occur of (i) the Change in Control Date, (ii) the date of
the execution by the Company of the initial written agreement or instrument
providing for the Change in Control or (iii) the date of the adoption by
the Board of Directors of a resolution providing for the Change in Control
(with the earliest to occur of such dates referred to herein as the “Measurement
Date”);

(b)           a
material reduction in the Employee’s annual base salary as in effect on the
Measurement Date or as the same was or may be increased thereafter from time to
time;

(c)           the
failure by the Company to (i) continue in effect any material compensation or
benefit plan or program (including without limitation any life insurance,

 3
 

 

medical, health and accident or disability
plan and any vacation or automobile program or policy) (a “Benefit Plan”) in
which the Employee participates or which is applicable to the Employee
immediately prior to the Measurement Date, unless an equitable arrangement
(embodied in an ongoing substitute or alternative plan) has been made with
respect to such plan or program or (ii) continue the Employee’s participation
therein (or in such substitute or alternative plan) on a basis not materially
less favorable, both in terms of the amount of benefits provided and the level
of the Employee’s participation relative to other participants, than the basis
existing immediately prior to the Measurement Date;

(d)           a
change by the Company in the location at which the Employee performs his
principal duties for the Company to a new location that is more than 50 miles from the location at which
the Employee performed his principal duties for the Company immediately prior
to the Measurement Date; or a requirement by the Company that the Employee
travel on Company business to a substantially greater extent than required
immediately prior to the Measurement Date;

(e)           the
failure of the Company to obtain the agreement from any successor to the
Company to assume and agree to perform this Agreement, as required by Section
5.1; or

(f)            any
material breach by the Company of this Agreement with the Employee.

The Employee’s right to terminate his employment for
Good Reason shall not be affected by his incapacity due to physical or mental
illness.

1.5           “Disability”
means the Employee’s absence from the full-time performance of the Employee’s
duties with the Company for 180 consecutive calendar days as a result of
incapacity due to mental or physical illness which is determined to be total
and permanent by a physician selected by the Company or its insurers and
acceptable to the Employee or the Employee’s legal representative.

1.6           “Code”
means the Internal Revenue Code of 1986, as amended.

2.     Term of Agreement.  This Agreement, and all rights and
obligations of the parties hereunder, shall take effect upon the Effective Date
and shall expire upon the first to occur of (a) the expiration of the Term (as
defined below) if a Change in Control has not occurred during the Term, (b) the
termination of the Employee’s employment with the Company prior to the Change
in Control Date, (c) the date 12 months after the Change in Control Date,
if the Employee is still employed by the Company as of such later date, or (d)
the fulfillment by the Company of all of its obligations under Sections 4
and 5.2 if the Employee’s employment with the Company terminates within 12
months following the Change in Control Date. 
“Term” shall mean the period commencing as of the Effective Date and
continuing in effect through December 31, 2008; provided, however, that
commencing on January 1, 2009 and each
January 1 thereafter, the Term shall be automatically extended for one
additional year unless, not later than 90 days prior to the scheduled
expiration of the Term (or any extension thereof), the Company shall have given
the Employee written notice that the Term will not be extended.

 4
 

 

3.     Employment Status;
Termination Following Change in Control.

3.1           Not
an Employment Contract.  The Employee
acknowledges that this Agreement does not constitute a contract of employment
or impose on the Company any obligation to retain the Employee as an employee
and that this Agreement does not prevent the Employee from terminating
employment at any time.  If the Employee’s
employment with the Company terminates for any reason and subsequently a Change
in Control shall occur, the Employee shall not be entitled to any benefits
hereunder except as otherwise provided pursuant to Section 1.2.

3.2           Termination
of Employment.

(a)           If
the Change in Control Date occurs during the Term, any termination of the
Employee’s employment by the Company or by the Employee within 12 months following
the Change in Control Date (other than due to the death of the Employee) shall
be communicated by a written notice to the other party hereto (the “Notice of
Termination”), given in accordance with Section 6.  Any Notice of Termination shall: (i) indicate
the specific termination provision (if any) of this Agreement relied upon by
the party giving such notice, (ii) to the extent applicable, set forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Employee’s employment under the provision so indicated and
(iii) specify the Date of Termination (as defined below).  The effective date of an employment
termination (the “Date of Termination”) shall be the close of business on the
date specified in the Notice of Termination (which date may not be less than 15
days or more than 120 days after the date of delivery of such Notice of
Termination), in the case of a termination other than one due to the Employee’s
death, or the date of the Employee’s death, as the case may be.

(b)           The
failure by the Employee or the Company to set forth in the Notice of
Termination any fact or circumstance which contributes to a showing of Good
Reason or Cause shall not waive any right of the Employee or the Company,
respectively, hereunder or preclude the Employee or the Company, respectively,
from asserting any such fact or circumstance in enforcing the Employee’s or the
Company’s rights hereunder.

(c)           Any
Notice of Termination for Cause given by the Company must be given within 90 days
of the occurrence of the event(s) or circumstance(s) which constitute(s) Cause.

(d)           Any Notice of Termination for Good
Reason given by the Employee must be given within 90 days of the occurrence of
the event(s) or circumstance(s) which constitute(s) Good Reason.

4.     Benefits to Employee.

4.1           Stock
Acceleration.  If the Change in
Control Date occurs during the Term and the Employee’s employment with the
Company terminates within 12 months following the Change in Control Date, 100%
of the then outstanding and unexercisable options to purchase shares of Common
Stock of the Company held by the Employee shall become immediately exercisable
in full.  Notwithstanding the foregoing,
Company acknowledges and agrees that, 

 5
 

 

solely with respect to that certain option
award to purchase 500,000 shares of the Company’s common stock granted to
Employee on March 20, 2006 (the “Option Date”), (a) 180,000 of which such
shares vest in equal installments during each month of the first 12 months of
Mr. Bate’s employment at NitroMed on the Option Date and (b) 320,000 of which
such shares vest in equal installments during each month of the 36 months
following the first anniversary of Mr. Bate’s employment on the Option Date,
subject to his continued employment with NitroMed, (i) if the Change in Control
Date occurs on or prior to March 20, 2007, all then-unvested shares described
in (a) above shall immediately accelerate and become fully exercisable on the
Change in Control Date and (ii) if the Change in Control Date occurs after
March 20, 2007, all then-unvested shares described in (b) above shall
immediately accelerate and become fully exercisable on the Change in Control
Date.

4.2           Compensation.  If the Change in Control Date occurs during
the Term and the Employee’s employment with the Company terminates within 12
months following the Change in Control Date, the Employee shall be entitled to
the following benefits:

(a)           Termination
Without Cause or for Good Reason.  If
the Employee’s employment with the Company is terminated by the Company (other
than for Cause, Disability or death) or by the Employee for Good Reason within
12 months following the Change in Control Date, then, subject to Section 4.4
below, the Employee shall be entitled to the following benefits:

(i)            the
Company shall pay to the Employee in a lump sum in cash within 30 days after
the Date of Termination the aggregate of the following amounts:

(1)           the
sum of (A) the Employee’s base salary through the Date of Termination and
(B)  the amount of any compensation previously deferred by the Employee
(together with any accrued interest or earnings thereon) and any accrued
vacation pay, in each case to the extent not previously paid (the sum of the
amounts described in clauses (A) and (B) shall be hereinafter referred to as
the “Accrued Obligations”);

(2)           the
amount equal to (A) 1.0 multiplied by (B) the Employee’s highest
annual base salary during the two-year period prior to the Change in Control
Date (the “Highest Base Salary”); and

(3)           the
amount equal to (A) the then-current annual bonus target percentage for the
Employee at the Date of Termination, as established by the Company’s Board of
Directors or Compensation Committee thereof, multiplied by (B) the Highest Base
Salary.

(ii)           for
12 months after the Date of Termination, or such longer period as may be
provided by the terms of the appropriate plan, program, practice or policy, the
Company shall continue to provide benefits to the Employee and the Employee’s
family at least equal to those which would have been provided to them if the
Employee’s employment had not been terminated, in accordance with the
applicable Benefit Plans in effect on the Measurement Date or, if more
favorable to the Employee and his family, in effect generally at any time
thereafter with respect to other peer executives of the Company; provided,
however, that if the 

 6
 

 

Employee becomes reemployed with another
employer and is eligible to receive a particular type of benefits (e.g., health
insurance benefits) from such employer on terms at least as favorable to the
Employee and his family as those being provided by the Company, then the
Company shall no longer be required to provide those particular benefits to the
Employee and his family;

(iii)          to
the extent not previously paid or provided, the Company shall timely pay or
provide to the Employee any other amounts or benefits required to be paid or
provided or which the Employee is eligible to receive following the Employee’s
termination of employment under any plan, program, policy, practice, contract
or agreement of the Company and its affiliated companies (such other amounts
and benefits shall be hereinafter referred to as the “Other Benefits”); and

(iv)          for
purposes of determining eligibility (but not the time of commencement of
benefits) of the Employee for retiree benefits to which the Employee is
entitled, the Employee shall be considered to have remained employed by the
Company until 12 months after the Date of Termination.

(b)           Resignation
without Good Reason; Termination for Death or Disability.  If the Employee voluntarily terminates his
employment with the Company within 12 months following the Change in Control
Date, excluding a termination for Good Reason, or if the Employee’s employment
with the Company is terminated by reason of the Employee’s death or Disability
within 12 months following the Change in Control Date, then the Company shall
(i) pay the Employee (or his estate, if applicable), in a lump sum in cash
within 30 days after the Date of Termination, the Accrued Obligations and (ii) timely
pay or provide to the Employee the Other Benefits.

(c)           Termination
for Cause.  If the Company terminates
the Employee’s employment with the Company for Cause within 12 months following
the Change in Control Date, then the Company shall (i) pay the Employee,
in a lump sum in cash within 30 days after the Date of Termination, the sum of
(A) the Employee’s annual base salary through the Date of Termination and
(B) the amount of any compensation previously deferred by the Employee, in
each case to the extent not previously paid, and (ii) timely pay or
provide to the Employee the Other Benefits.

4.3           Mitigation.  The Employee shall not be required to
mitigate the amount of any payment or benefits provided for in this Section 4
by seeking other employment or otherwise. Further, except as provided in
Section 4.2(a)(ii), the amount of any payment or benefits provided for in this
Section 4 shall not be reduced by any compensation earned by the Employee as a
result of employment by another employer, by retirement benefits, by offset
against any amount claimed to be owed by the Employee to the Company or
otherwise.

4.4           Section
409A of the Code.  To the extent that
any amount to be paid or provided to Employee in connection with a separation
from service pursuant to this Agreement is subject to Section 409A of the Code
and at the time of the separation from service the Employee is considered a
specified employee within the meaning of Section 409A of the Code, then such
payment shall not be made until the date (the “Payment Date”) that is 6 months
and 1 day after 

 7
 

 

such separation from service (the “Six Month
Period”).  All amounts which would have
been paid during such Six Month Period will be paid in a lump sum on such
Payment Date.

5.     Successors.

5.1           Successor
to Company.  The Company shall
require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or
assets of the Company expressly to assume and agree to perform this Agreement
to the same extent that the Company would be required to perform it if no such
succession had taken place.  Failure of
the Company to obtain an assumption of this Agreement at or prior to the
effectiveness of any succession shall constitute Good Reason if the Employee
elects to terminate employment, except that for purposes of implementing the
foregoing, the date on which any such succession becomes effective shall be
deemed the Date of Termination.  As used
in this Agreement, “Company” shall mean the Company as defined above and any
successor to its business or assets as aforesaid which assumes and agrees to
perform this Agreement, by operation of law or otherwise.

5.2           Successor
to Employee.  This Agreement shall
inure to the benefit of and be enforceable by the Employee’s personal or legal
representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees.  If the Employee
should die while any amount would still be payable to the Employee or his family
hereunder if the Employee had continued to live, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to the executors, personal representatives or administrators of the
Employee’s estate.

6.     Notice.  All notices, instructions and other
communications given hereunder or in connection herewith shall be in
writing.  Any such notice, instruction or
communication shall be sent either (i) by registered or certified mail, return
receipt requested, postage prepaid, or (ii) prepaid via a reputable nationwide
overnight courier service, in each case addressed to the Company, at 125 Spring
Street, Lexington, MA 02421-7801, Attention: 
Secretary, with a copy to Steven D. Singer, Esq., Wilmer Cutler
Pickering Hale and Dorr LLP, 60 State Street, Boston, MA 02109, and to the
Employee at the Employee’s address indicated on the signature page of this
Agreement (or to such other address as either the Company or the Employee may
have furnished to the other in writing in accordance herewith).  Any such notice, instruction or communication
shall be deemed to have been delivered five business days after it is sent by
registered or certified mail, return receipt requested, postage prepaid, or one
business day after it is sent via a reputable nationwide overnight courier
service. Either party may give any notice, instruction or other communication
hereunder using any other means, but no such notice, instruction or other
communication shall be deemed to have been duly delivered unless and until it
actually is received by the party for whom it is intended.

7.     Miscellaneous.

7.1           Employment
by Subsidiary.  For purposes of this
Agreement, the Employee’s employment with the Company shall not be deemed to
have terminated solely as a result of the Employee continuing to be employed by
a wholly-owned subsidiary of the Company.

 8
 

 

7.2           Severability.  The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect.

7.3           Injunctive
Relief.  The Company and the Employee
agree that any breach of this Agreement by the Company is likely to cause the
Employee substantial and irrevocable damage and therefore, in the event of any
such breach, in addition to such other remedies which may be available, the
Employee shall have the right to specific performance and injunctive relief.

7.4           Governing
Law.  The validity, interpretation,
construction and performance of this Agreement shall be governed by the
internal laws of the Commonwealth of Massachusetts, without regard to conflicts
of law principles.

7.5           Waivers.  No waiver by the Employee at any time of any
breach of, or compliance with, any provision of this Agreement to be performed
by the Company shall be deemed a waiver of that or any other provision at any
subsequent time.

7.6           Counterparts.  This Agreement may be executed in
counterparts, each of which shall be deemed to be an original but both of which
together shall constitute one and the same instrument.

7.7           Tax
Withholding.  Any payments provided
for hereunder shall be paid net of any applicable tax withholding required
under federal, state or local law.

7.8           Entire
Agreement.  This Agreement sets forth
the entire agreement of the parties hereto in respect of the subject matter
contained herein and supersedes all prior agreements, promises, covenants,
arrangements, communications, representations or warranties, whether oral or
written, by any officer, employee or representative of any party hereto in
respect of the subject matter contained herein; and any prior agreement of the
parties hereto in respect of the subject matter contained herein is hereby
terminated and cancelled.  For the
avoidance of doubt, this Agreement provides for the payment of benefits to the
Employee, if any, solely in the event of a Change of Control in accordance with
the terms of this Agreement.  This
Agreement does not provide for the payment of benefits to the Employee in the
event of termination other than in connection with a Change of Control in
accordance with the terms of this Agreement. 
Accordingly, in no event will the Employee be entitled to payments
pursuant to both Section 4.2 of this Agreement and any other severance
agreements, promises, covenants, arrangements, communications, representations
or warranties, whether oral or written, made by any officer, employee or
representative of the Company, including without limitation either (x) in that
certain Severance Agreement between the Company and Employee dated even
herewith or (y) in that certain Executive Severance Benefit Plan dated March
20, 2006 (the “Severance Plan”), as such Severance Plan may be superceded,
modified or amended by the Company.

7.9           Amendments.  This Agreement may be amended or modified
only by a written instrument executed by both the Company and the Employee.

7.10         Employee’s
Acknowledgements.  The Employee
acknowledges that he: (a) has read this Agreement; (b) has been represented in
the preparation, negotiation, and execution of this Agreement by legal counsel
of the Employee’s own choice or has voluntarily 

 9
 

 

declined to seek such counsel; (c)
understands the terms and consequences of this Agreement; and (d) understands
that the law firm of Wilmer Cutler Pickering Hale and Dorr LLP is acting as
counsel to the Company in connection with the transactions contemplated by this
Agreement, and is not acting as counsel for the Employee.

 10
 

 

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

NITROMED, INC.

By: /s/ James G. Ham,
III

Title: VP Finance
& CFO

James G. Ham, III

KENNETH M. BATE

/s/
Kenneth M. Bate

Signature

Address:

33 Middle Street

Concord, MA 01742

___________________________________

Date:  January 23, 2007

 11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]