Document:

Employment Agreement, Gary J. Noel

 Exhibit 10.12 
 PARATEK PHARMACEUTICALS, INC. 
 75 Kneeland Street 

Boston, Massachusetts 02111 
 August 16, 2010 
 Gary J. Noel, M.D. 

Dear Dr. Noel: 
 This
letter is to confirm our understanding with respect to your employment by Paratek Pharmaceuticals, Inc. (the “Company”). In consideration of the mutual promises and covenants contained in this letter agreement (this “Agreement”),
and for other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, we have agreed as follows: 
 1. Employment. The Company will employ you, and you agree to be employed by the Company, effective as of September 10, 2010, to serve as its Vice President and Chief Medical Officer, reporting
to the Company’s Chief Executive Officer. You shall have the responsibilities, duties and authority commensurate with such position, including, without limitation, general supervision and control over, and responsibility for, the Company’s
clinical development activities. In addition to your primary duties, you shall perform such other services and discharge such other duties and responsibilities, as may be prescribed by the Chief Executive Officer from time to time. You shall devote
your full time and best efforts in the performance of the foregoing services. 
 2. Term of Employment. 

(a) Term; Termination. Your employment hereunder shall commence as of the date of this Agreement (the “Commencement
Date”) and shall continue until the first anniversary thereof (the “Initial Term”). The term of your employment shall renew automatically for any number of renewal terms of one year’s duration each, unless either party to this
Agreement provides written notice of its intention not to renew the Agreement at least ninety (90) days prior to the then effective expiration date (the Initial Term, together with any such renewal terms, being the “Term”).
Notwithstanding the foregoing, your employment hereunder shall be terminated upon the first to occur of the following: 
  

	 	(i)	immediately upon your death; or 

  

	 	(ii)	by the Company: 

 (A) upon
notice following your failure, due to illness, accident or any other physical or mental incapacity, to perform the services provided for hereunder for an aggregate of ninety (90) business days within any one year period during the term hereof;

 (B) upon notice for Cause (as defined below) and as set forth below; or 

(C) subject to Section 3 hereof, without Cause, upon sixty (60) days’ prior written notice to you of its intent to
terminate your employment; provided, however, that if a termination occurs under this Section 2(a)(ii)(C) during the Initial Term, such termination will not be effective until the last day of the Initial Term; or 

 

	 	(iii)	by you: 

 (A) without Good
Reason (as defined below) upon sixty (60) days’ prior written notice to the Company of your intent to terminate your employment; or 
 (B) subject to Section 3 hereof, with Good Reason, upon sixty (60) days’ prior written notice to the Company of your intent to terminate your employment. 

The right of the Company to terminate your employment hereunder without Cause, to which you hereby agree, shall be exercisable by written
notice sent to you by the Company. 
 (b) Definition of “Cause”. The Company may, immediately and unilaterally,
terminate your employment hereunder for Cause at any time upon ten (10) days’ advance written notice to you. Termination of your employment by the Company shall constitute a termination for Cause if such termination is for one or more of
the following reasons: (i) your willful misconduct or gross negligence; (ii) you are convicted of a felony, either in connection with the performance of your obligations to the Company or which conviction materially adversely affects your
ability to perform such obligations or materially adversely affects the business activities, reputation, goodwill or image of the Company; or (iii) willful disloyalty, deliberate dishonesty or material uncured breach of fiduciary duty to the
Company or its shareholders. 
 In making any determination under this Section, the Board shall act fairly and in utmost good
faith and shall give you an opportunity to appear and be heard at a meeting of the Board or any committee thereof and present evidence on your behalf. For purposes of this Section, no act, or failure to act, on your part shall be considered
“willful” unless done, or admitted to be done, by you in bad faith and without reasonable belief that such action or omission was in the best interest of the Company. 

In the event you are terminated for Cause, you shall be entitled to no severance or other termination benefits, or any other benefits,
except that the Company shall continue to make available to you such fringe benefits as are required by law, and shall pay to you the pro rata amount of your Base Salary (as defined below) earned up to the date of said termination, said payment to
be made on the same date as said salary payment would have been made had there been no termination. Notwithstanding any termination of your employment, you shall continue to be bound by the provisions of this Agreement (other than Section 1
hereof). 
 (c) Definition of “Good Reason”. You may terminate your employment hereunder with Good Reason at
any time upon sixty (60) days’ advance written notice to the Company. 

  
 - 2

 
Termination of your employment by you shall constitute a termination for “Good Reason” if such termination is a result of (i) the Company’s failure to perform in any material
respects its obligations to you pursuant to Section 1, 3 or 4 of this Agreement, including, without limitation, any material diminution of your duties, title, authority, responsibilities (or nature thereof) or reporting level, as they exist on
the date hereof or as they may have been increased or improved during any term of employment hereunder other than due to termination for Cause, which failure of performance continues for a period of more than thirty (30) days after notice
thereof has been provided by you to the Board, such notice to set forth in reasonable detail the nature of such failure or (ii) any requirement that you be principally based at any office or location more than 25 miles from 16 Highland Drive,
Caldwell, New Jersey, provided that it is understood that you will be required to spend a reasonable amount of time at the Company’s offices in Boston, Massachusetts as mutually agreed upon, which from time to time may include full work weeks.
Notwithstanding any termination of your employment, you shall continue to be bound by the provisions of this Agreement (other than Section 1 hereof). 
 3. Compensation. 
 (a) Salary. The Company shall pay you as your
base compensation for your services and agreements hereunder a base salary at the rate of Three Hundred and Thirty Thousand Dollars ($330,000.00) per year, payable at such intervals as may be agreed upon by the Company and you, less any amounts
required to be withheld under applicable law. Such compensation will be reduced by any disability payments, which you receive, after taking into account the tax benefits (if any) of such payments. Your base salary will be reviewed annually by the
Company’s Board of Directors and will not be reduced without your consent (you base salary, as adjusted from time to time, the “Base Salary”). 
 (b) Bonus. In addition to your Base Salary, you will be entitled to cash bonuses of up to twenty-five percent (25%) of your Base Salary earned in any year as determined from time to time by
the Board in its discretion, taking into account, among other factors, your performance and the Company’s performance. 

(c) Present Grant of Options. Promptly following your commencement of employment, the Company shall grant you options to purchase
(as determined by the Board) an aggregate of 150,000 shares of the Company’s Common Stock at an exercise price of Two Dollars ($2.00) per share, vesting in equal annual installments over four years, pursuant to the Company’s 2005 Employee,
Director and Consultant Stock Plan (the “Stock Plan”), subject to Board approval. 
 (d) Future Stock Grants and
Stock Options. During the course of your employment you will be eligible to receive stock grants and stock options pursuant to the Company’s 2005 Employee, Director and Consultant Stock Plan or any successor plan (the “Stock
Plan”), in such amounts and pursuant to vesting schedules as may be determined from time to time by the Board in its discretion, taking into account, among other factors, your performance and the Company’s performance. 

  
 - 3

 (e) Severance; Termination without Cause or for Good Reason. Subject to
Section 3(f) below, in the event your employment is terminated during the Term of this Agreement (i) by the Company other than for Cause, (ii) by you with Good Reason or (iii) in accordance with the Company’s notice to you
of its election not to renew the Term pursuant to Section 2(a) hereof: 
 (i) the Company shall continue to
pay you your Base Salary and provide you with the benefits set forth in Section 4 hereof, both as in effect on the date of such termination or non-renewal, whichever the case may be, for a period equal to the lesser of (A) twelve
(12) months subsequent to the date of such termination or (B) thirty (30) days following the date of your commencement of full-time employment with another employer; provided, however, if your annual salary with your new
employer is less than your Base Salary then in effect, the Company shall pay you the difference between your Base Salary and the annual salary from your new employer for the balance of such 12-month period following the date of your termination by
the Company (all such payments to be made at the times and at the rate specified in Section 3(a) hereof); 

Notwithstanding any termination of your employment, you shall continue to be bound by the provisions of this Agreement (other than
Section 1 hereof). 
 (f) Effect of Change of Control. If a Change of Control (as defined below) occurs and at any
time during the 12-month period following any such Change of Control, (A) the Company, or its successor, terminates your employment, whether with or without Cause, or (B) the Company, or its successor, elects not to renew this Agreement in
accordance with its notice to you pursuant to Section 2(a) hereof, or (C) you terminate your employment with the Company, or its successor, for Good Reason, then: 

(i) the Company or its successor shall continue to pay you your Base Salary and provide you with the benefits set forth in
Section 4 hereof, both as in effect on the date of such termination or non-renewal, whichever the case may be, for a period equal to twelve (12) months subsequent to such date of termination; 

(ii) in the event that the Company or its successor pays cash bonuses to executive officers of the Company or such
successor with respect to the year in which your employment was so terminated by the Company, then the Company or its successor shall pay you, at the time such other bonuses are generally paid, a cash bonus in an amount equal to the amount that the
Board or the board of directors (or comparable body) of the successor in its discretion would have awarded you had your employment continued through such twelve (12) months, the payment of such amount to be pro rated based upon the portion of
such year that your employment with the Company or such successor was continuing; and 
 (iii) provided that any
stock grants or options to purchase shares of the Company’s Common Stock granted to you shall not otherwise have expired or been terminated pursuant to the terms of a Company stock incentive plan, this Agreement or the agreement evidencing such
stock grants or options, such stock grants or options will become fully vested, and you will have the right to exercise any and all of such options. In addition, notwithstanding anything contained herein to the contrary, such stock grants and
options will also become fully vested, and you will have the right to exercise any and all of such options in the event that (A) a Change of Control occurs and (B) you continue your employment with the Company, or its successor, for a
period of not less than twelve (12) months following the date of such Change of Control. 

  
 - 4

 As used herein a “Change of Control” shall be deemed to have occurred if
(i) any “person” (as such term is used in sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended), other than persons who are stockholders of the Company on the date of this Agreement, is or becomes the
beneficial owner, directly or indirectly, of securities of the Company representing at least a majority of the outstanding Common Stock of the Company, or (ii) if during any consecutive twelve (12) month period beginning on or after the
date on which this Agreement is executed individuals who at the beginning of such period were directors of the Company (together with any new directors whose election by the Board or whose nomination for election by the Company’s shareholders
was approved by a vote of a majority of the directors then still in office who were either directors at the beginning of such period or whose election or nomination was previously so approved) cease, for any reason, to constitute at least a majority
of the Board; or (iv) if a merger of, or consolidation involving, the Company in which the Company’s stock is converted into securities of another corporation or into cash shall be consummated, or a plan of complete liquidation of the
Company (whether or not in connection with a sale of all or substantially all of the Company’s assets) shall be adopted and consummated, or substantially all of the Company’s operating assets are sold (whether or not a plan of liquidation
shall be adopted or a liquidation occurs), excluding in each case a transaction solely for the purpose of reincorporating the Company in a different jurisdiction or recapitalizing or reclassifying the Company’s stock. 

(g) Accrued and Unpaid Compensation. In the event of any termination of your employment for any reason, you (or your estate) shall
be paid such portion of your Base Salary, accrued vacation and unpaid incentive compensation (other than cash bonuses, which may be pursuant to Section 3(f)(ii) above), if any, as has accrued by virtue of your employment during the period prior
to termination and has not yet been paid, together with any amounts for expense reimbursement, other benefits and similar items which have been properly incurred in accordance with the provisions hereof prior to termination and have not yet been
paid. Such amounts shall be paid within ten (10) business days of the termination date. 
 4. Benefits and Reimbursement
of Expenses. 
 (a) Vacation and Holidays. You shall be entitled to twenty-five (25) days of Paid Time Off plus
paid holidays in each year at a time or times (either consecutively or not consecutively) mutually agreeable to the Company and you, in accordance with the Company’s vacation and holiday policy in effect from time to time. 

(b) Employee Benefit Plans. You shall also be entitled to participate in the same manner as other executive employees of the
Company in any employee benefit plans which the Company provides or may establish for the benefit of its executive employees generally (including, without limitation, group life, medical, dental and other insurance, retirement, pension,
profit-sharing and similar plans). In the event that you opt out of the Company’s medical and dental benefits plan, the Company will, in lieu of paying the premiums of such medical and dental benefits, pay up to $1,000 per month for similar
medical and dental coverage that you obtain from an alternate source upon submission of invoices evidencing such coverage. 

  
 - 5

 (c) Reimbursement of Expenses. You shall be entitled to reimbursement for all
ordinary and reasonable out-of-pocket business expenses that are reasonably incurred by you in furtherance of the Company’s business in accordance with reasonable policies adopted from time to time by the Company. 

5. Prohibited Solicitation. 
 (a) During the period in which you are employed by the Company and for a period of two (2) years following the expiration or termination of your employment, whether such termination is voluntary or
involuntary, you agree that you shall not, without the prior written consent of the Company either individually or on behalf of or through any third party, directly or indirectly, solicit, entice or persuade or attempt to solicit, entice or persuade
any persons then serving as employees of or consultants to the Company or any present or future parent, subsidiary or affiliate of the Company to leave the services of the Company or any such parent, subsidiary or affiliate for any reason.

 (b) Survival of Agreement. Your agreement set forth in this Section 5 shall survive the expiration or termination
of this Agreement and the termination of your employment with the Company for any reason. 
 6. Protected Information.
Upon execution of this Agreement, you shall execute and deliver a Noncompetition and Confidentiality Agreement in the form attached hereto as Annex A. 
 7. Disclosure to Future Employers. You agree that you will provide, and, in the event that the Company reasonably believes that you may have breached the provisions of this Agreement or the
Noncompetition and Confidentiality Agreement the Company may similarly provide, a copy of the covenants contained in Section 5 of this Agreement and the covenants contained in the Noncompetition and Confidentiality Agreement to any business or
enterprise which you may directly, or indirectly, own, manage, operate, finance, join, control or in which you participate in the ownership, management, operation, financing, or control, or with which you may be connected as an officer, director,
employee, partner, principal, agent, representative, consultant or otherwise. 
 8. Records. Upon termination of your
relationship with the Company, you shall deliver to the Company any property of the Company which may be in your possession including products, materials, memoranda, notes, records, reports, or other documents or photocopies of the same. 

9. No Conflicting Agreements. You hereby represent and warrant that you have no commitments or obligations inconsistent with this
Agreement and you hereby agree to indemnify and hold the Company harmless against loss, damage, liability or expense arising from any claim based upon circumstances alleged to be inconsistent with such representation and warranty. 

10. General. 
 (a) Notices. All notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party’s address set forth below or to such

  
 - 6

 
other address as a party may designate by notice hereunder, and shall be either (i) delivered by hand, (ii) made by telecopy or facsimile transmission, (iii) sent by overnight
courier, or (iv) sent by registered mail, return receipt requested, postage prepaid. 
  

							
	If to the Company:	  	 Paratek Pharmaceuticals, Inc.
 75 Kneeland Street
 Boston, MA 02111
 Attention: Thomas J. Bigger
 Fax: (617) 275-0039

		
	With a copy to:	  	 Lewis J. Geffen, Esquire
 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
 One Financial Center Boston, MA
02111
 Fax: (617) 542-2241

		
	If to you:	  	 Gary J. Noel, M.D.

		  	Fax:	 	  
	 	

 All notices, requests, consents and other communications hereunder shall be deemed to have been given
either (i) if by hand, at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if made by telecopy or facsimile transmission, at the time that receipt thereof has been acknowledged by
electronic confirmation or otherwise, (iii) if sent by overnight courier, on the next business day following the day such notice is delivered to the courier service, or (iv) if sent by registered mail, on the fifth business day following
the day such mailing is made. 
 (b) Entire Agreement. This Agreement embodies the entire agreement and understanding
between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any
kind not expressly set forth in this Agreement shall change or restrict, the express terms and provisions of this Agreement. 

(c) Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement
executed by the parties hereto. 
 (d) Waivers and Consents. The terms and provisions of this Agreement may be waived, or
consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to
any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or
consent. 
 (e) Assignment. The Company may assign its rights and obligations hereunder to any person or entity that
succeeds to all or substantially all of the Company’s business; provided, however, that the Company shall provide you with notice of such assignment. Your rights and obligations under this Agreement may not be assigned by you without the
prior written consent of the Company. 

  
 - 7

 (f) Benefit. All statements, representations, warranties, covenants and agreements in
this Agreement shall be binding on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this Agreement shall be construed to create any rights or obligations except
among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary of this Agreement. 
 (g)
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and governed by the law of The Commonwealth of Massachusetts, without giving effect to the conflict of law principles
thereof. 
 (h) Arbitration. Except with respect to the provisions of Section 5 hereof, any controversy, dispute or
claim arising out of or in connection with this Agreement, or the breach, termination or validity hereof, shall be settled by final and binding arbitration to be conducted by an arbitration tribunal in Boston, Massachusetts, pursuant to the rules of
the American Arbitration Association. The arbitration tribunal shall consist of three arbitrators. The party initiating arbitration shall nominate one arbitrator in the request for arbitration and the other party shall nominate a second in the
answer thereto within thirty (30) days of receipt of the request. The two arbitrators so named will then jointly appoint the third arbitrator. If the answering party fails to nominate its arbitrator within the thirty (30) day period, or if
the arbitrators named by the parties fail to agree on the third arbitrator within sixty (60) days, the office of the American Arbitration Association in Boston, Massachusetts shall make the necessary appointments of such arbitrator(s). The
decision or award of the arbitration tribunal (by a majority determination, or if there is no majority, then by the determination of the third arbitrator, if any) shall be final, and judgment upon such decision or award may be entered in any
competent court or application may be made to any competent court for judicial acceptance of such decision or award and an order of enforcement. In the event of any procedural matter not covered by the aforesaid rules, the procedural law of the
Commonwealth of Massachusetts shall govern. 
 (i) Jurisdiction and Service of Process. Any legal action or proceeding
with respect to this Agreement shall be brought in the courts of The Commonwealth of Massachusetts or in the United States District Court for the District of Massachusetts. By execution and delivery of this Agreement, each of the parties hereto
accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each of the parties hereto irrevocably consents to the service of process of any of the aforementioned courts in any such
action or proceeding by the mailing of copies thereof by certified mail, postage prepaid, to the party at its address set forth in Section 11(a) hereof. 
 (j) Severability. The parties intend this Agreement to be enforced as written. However, (i) if any portion or provision of this Agreement shall to any extent be declared illegal or
unenforceable by a duly authorized court having jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not
be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by 

  
 - 8

 
law; and (ii) if any provision, or part thereof, is held to be unenforceable because of the duration of such provision or the geographic area covered thereby, the Company and you agree that
the court making such determination shall have the power to reduce the duration and/or geographic area of such provision, and/or to delete specific words and phrases (“blue-penciling”), and in its reduced or blue-penciled form such
provision shall then be enforceable and shall be enforced. 
 (k) Headings and Captions. The headings and captions of the
various subdivisions of this Agreement are for convenience of reference only and shall in no way modify, or affect the meaning or construction of any of the terms or provisions hereof. 

(l) Injunctive Relief. You hereby expressly acknowledge that any breach or threatened breach of any of the terms and/or conditions
set forth in Section 5 of this Agreement will result in substantial, continuing and irreparable injury to the Company. Therefore, you hereby agree that, in addition to any other remedy that may be available to the Company, the Company shall be
entitled to injunctive relief by a court of appropriate jurisdiction in the event of any breach or threatened breach of the terms of Section 5 of this Agreement. 
 (m) No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing between the parties
hereto, shall operate as a waiver of any such right, power or remedy of the party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such
right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto shall not constitute a waiver of the right of
such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further notice or demand in similar or other
circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand. 
 (n) Expenses. Each party hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others engaged by such party) in connection with this Agreement
and the transactions contemplated hereby. 
 (o) Counterparts. This Agreement may be executed in one or more
counterparts, and by different parties hereto on separate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

  
 - 9

 If the foregoing accurately sets forth our agreement, please so indicate by signing and
returning to us the enclosed copy of this letter. 
  

			
	Very truly yours,
	
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Thomas J. Bigger

		 	Thomas J. Bigger
		 	President

  

			
	Accepted and Approved:
	
	 /s/ Gary J. Noel

	Name:	 	August 19, 2010

  
 - 10Deferred Compensation, Stuart B. Levy

 Exhibit 10.13 
 PARATEK PHARMACEUTICALS, INC. 
 Stuart B. Levy, M.D. Deferred Compensation
Agreement 
 AGREEMENT relating to deferred compensation by and between Paratek Pharmaceuticals, Inc. (the
“Company”) and Stuart B. Levy, M.D. (“Dr. Levy”). 
 WHEREAS, Dr. Levy is a key executive officer of
the Company; and 
 WHEREAS, the Company and Dr. Levy entered into an employment agreement dated July 1, 1999 (the
“Employment Agreement”), which provides that the Company shall accrue certain deferred compensation obligations for the benefit of Dr. Levy; and 
 WHEREAS, the Company and Dr. Levy wish to enter into this Agreement to provide for such deferred compensation obligations for the benefit of Dr. Levy. 

NOW, THEREFORE, the parties hereto agree as follows: 
  

	 	1.	Name and Parties; Supersession of Prior Agreements 

 This Agreement is hereby designated the “Dr. Stuart B. Levy, M.D. Deferred Compensation Agreement” (hereinafter the “Agreement”). 

The parties to this Agreement are the Company and Dr. Levy. 

This Agreement supersedes any prior agreements (oral or written) between the parties that relate in any way to the payment of deferred
compensation, and any such prior agreements are rescinded and nullified as of the effective date stated in the following section. 
  

	 	2.	Effective Date. 

 The
effective date of this Agreement is July 1, 1999. 
  

	 	3.	Establishment of Account. 

(a) The Company shall establish a deferred compensation account (the “Account”) on its books to record the Company’s
deferred compensation obligation to Dr. Levy under this Agreement. Each month starting with the effective date of this Agreement, the Company shall credit the Account with an amount equal to ten percent (10%) of Dr. Levy’s Base
Salary (as defined in the Employment Agreement) for such month. Dr. Levy’s right to receive the amount credited to the Account in accordance with the provisions of this Agreement is fully vested and nonforfeitable, subject to the claims of
the general creditors of the Company and the terms of this Agreement. 
 (b) The Account shall be credited with earnings and
losses determined as if the Account had been invested in certain hypothetical investments designated by Dr. Levy (the “Investments(s)”). Dr. Levy shall designate the initial Investment(s) for the Account in writing, delivered in
person or first class mail to the Chief Financial Officer of the Company (including if 

 
applicable the percentage of the Account to be invested in each such Investment). If Dr. Levy fails to designate any Investment(s), the Company shall credit the Account with interest equal
to three percent (3%) per annum until such time as Dr. Levy makes such a designation. Dr. Levy may in like manner make changes in his Investment(s) and such changes shall be effective as soon as administratively feasible, but in no
event more than ten (10) business days from the receipt by the Company of such written change. 
  

	 	4.	Payment of Account. 

 (a)
The full Account, adjusted for earnings and losses as set forth in Section 3(b) of this Agreement, shall be paid to Dr. Levy in a single lump sum within five (5) business days of Dr. Levy’s termination of employment with the
Company. 
 (b) If Dr. Levy dies before receiving payment of his entire Account, payment of the entire amount remaining in
his Account will be made to his beneficiary as soon as administratively feasible following the Company’s receipt of evidence satisfactory to it of Dr. Levy’s death, unless Dr. Levy has not designated a beneficiary in which case
the Account shall be paid to Dr. Levy’s estate. 
  

	 	5.	Optional Funding by the Company. 

 The Company will not be required to fund its obligations under this Agreement in any manner. The Company may, however, in its sole discretion make provision for such obligation, in whole or in part, in
any manner it deems desirable, including, but not limited to the purchase of mutual fund shares, securities, certificates of deposits, insurance and United States Treasury Bills. If requested by the Company, Dr. Levy will take such steps as may
be necessary or desirable to assist the Company in so funding its obligation, including without limitation all acts necessary or desirable to enable the Company to procure policies of insurance on his life. Any assets obtained under this section
will be general assets of the Company and will not constitute a trust fund or escrow for the benefit of Dr. Levy. In addition, the Company in its sole discretion may establish a grantor trust of which it is treated as the owner under Code
Section 671 to provide for the payment of benefits hereunder, subject to such terms and conditions as the Company may deem necessary or advisable to insure that benefits are not includable, by reason of the trust, in the taxable income of
Dr. Levy (or his beneficiary) and that the existence of the trust does not cause this deferred compensation arrangement to be considered funded for purposes of Title I of the Employee Retirement Income Security Act of 1974. 

 

	 	6.	Beneficiary Designation; Payments to Beneficiary 

 By a signed memorandum delivered to the Company, Dr. Levy may from time to time designate one or more beneficiaries to receive all or a portion of his Account under this Agreement after his death.
Dr. Levy may in the same manner at any time amend or revoke a previous designation without the consent of any person. 

  
 2 

	 	7.	General Provisions 

 (a)
All payments or notices hereunder may be sent by mailing, first class postage prepaid, to Dr. Levy (or his beneficiary) at the address most recently provided to the Company by Dr. Levy (or his beneficiary). The Company will withhold from
any payment due hereunder all taxes required by law to be withheld. The Company in its discretion may also reduce any payment hereunder by the amount of any indebtedness then owed by Dr. Levy (or his beneficiary) to the Company or any of its
subsidiaries or affiliates. 
 (b) The rights of any person to the payment of any amount hereunder will be solely those of a
general creditor of the Company. 
 (c) Dr. Levy’s rights hereunder are personal to him (or his beneficiary). No right
or payment hereunder will be subject to anticipation, assignment, alienation or other transfer by Dr. Levy, except by designation of beneficiary under Section 6 or by will or the laws of descent and distribution in the event of
Dr. Levy’s death, or by reduction under Section 7(a) above. 
 (d) This Agreement will not confer upon
Dr. Levy any right to continued employment with the Company or affect or modify in any way either the Company’s right to discharge him or the other terms of his employment. Dr. Levy’s rights hereunder will be solely those
specifically stated in this Agreement. 
 (e) No amounts credited to the Account under Section 3(a) or set aside by the
Company to fund its obligation under Section 5 above will be considered compensation for purposes of determining Dr. Levy’s rights under any employee benefit plan or program maintained by the Company. 

(f) If the Company determines that any person to whom any payment is due under this Agreement is unable to care for his affairs because
of illness, accident or disability, or is a minor, any payment due may (unless a prior claim therefor has been made by a duly appointed guardian or other legal representative) be paid to such person’s spouse, child, parent, brother or sister,
or to any person deemed by the Company to have incurred expense for the person otherwise entitled to payment, in such manner and proportions as the Company may determine. Any such payment will to the extent thereof be a complete discharge of the
liabilities of the Company under this Agreement. 
  

	 	8.	Governing Law. 

 This
Agreement, including its interpretation and effect, will be governed by the laws of the Commonwealth of Massachusetts. If any provision of this Agreement is adjudged to be enforceable only in part or for a period shorter than the period specified
herein, such partially enforceable provision or period is intended to be enforced to the full extent permitted by law. 

  
 3 

	 	9.	Administration and Interpretation. 

 The Company shall have discretionary authority over the interpretation, administration and operation of this Agreement and the Company shall bear the reasonable expenses of the Company related to the
administration and operation of this Agreement. 
  

	 	10.	Liability. 

 No officer,
director, employee or agent of the Company shall be liable for any action taken hereunder, whether by omission or commission, by any other officer, director, employee or agent of the Company to whom duties in connection with the administration of
this Agreement have been delegated, except in circumstances involving his or her fraud or gross negligence. The Company shall fully indemnify any officer, director or employee of the Company in connection with the administration of this Agreement
except in cases involving his or her fraud or gross negligence. The Company or its agent may consult with legal counsel, who may be legal counsel for the Company or the Company’s agent, with respect to its obligations or duties hereunder, or
with respect to any action or proceeding or any question of law, and shall not be liable with respect to any action taken or omitted by it in good faith pursuant to the advice of such counsel. 

 

	 	11.	Amendment and Termination. 

This Agreement contains the entire understanding of the parties. This Agreement may only be amended or terminated with the consent of the
Company and Dr. Levy by a written instrument signed by both Dr. Levy (or his beneficiary) and a duly authorized officer of the Company; provided, however, the Company shall be permitted to unilaterally terminate this Agreement at any time
after the completion of the Term upon thirty (30) days written notice delivered to Dr. Levy. No amendment or termination of this Agreement will divest or affect Dr. Levy’s right to amounts credited to the Account before the
effective date of such amendment or termination (subject to fluctuations in the amount credited to the Account attributable to the Investment(s) designated by Dr. Levy). 

 

	 	12.	Capitalized Terms. 

 Any
capitalized term not defined herein shall have the same meaning given to it in the Employment Agreement. 
  

	 	13.	Binding Effect. 

 This
Agreement will be binding upon Dr. Levy and his beneficiaries, legatees, heirs and personal representatives. This Agreement will be binding upon the Company and its successors and assigns. 

This Agreement may be executed in two or more counterparts, each of which will constitute an original. 

[Signatures are on the following page] 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, individually or by a
duly authorized officer, as of Jan 16, 2000. 
  

			
	STUART B. LEVY, M.D.
	
	 /s/ Stuart B. Levy

	Stuart B. Levy, M.D.
	
	PARATEK PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Beverly Armstrong

		
	Title:	 	 VP & Chief Financial Officer

  
 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00208-of-00352.parquet"}]]