Document:

Exhibit

 
March 7, 2018 
Mr. Brian Stech
910 W. Legacy Center Way, Suite 500
Midvale, Utah 84047
Re:   Employment Agreement  
Dear Brian: 
This letter agreement (“Agreement”) sets forth the terms of your employment with ZAGG Inc, a Delaware corporation (“ZAGG” or the “Company”), effective as of March 7, 2018 (the “Effective Date”). This Agreement amends and restates in its entirety any prior employment understanding or agreement between you and the Company or any other entity which is controlled by the Company (each an “Affiliate”).
1.    Position and Duties. You shall continue to be employed by the Company, but hereafter in the role of President of ZAGG. In such position, you have the duties and authority consistent with the duties and authority of a President of a public company in the mobile accessories industry of a size comparable to ZAGG. In addition, you may be asked from time to time to serve as a manager, director or officer of one or more of the Company’s Affiliates, without further compensation.  Your employment with the Company shall be on the terms and conditions set forth in this Agreement, and you agree to devote your full business time, judgment, energy and skill exclusively to the advancement of the business interests of the Company and its Affiliates and to fully discharge your duties and responsibilities for them; provided, that you may serve on an outside board with the approval of the Company’s Chief Executive Officer. You shall report directly to the Company’s Chief Executive Officer. Your principal place of employment will be at the Company’s headquarters in or around Midvale, Utah.  
2.    Term of Employment. Your employment at the Company commenced as of the date of your hire.  Your employment has remained and shall remain “at-will” and either you or the Company may terminate your employment at any time, with or without cause, subject to the provisions of Paragraphs 4, 5 and 6 below. 
3.    Compensation. The Compensation Addendum attached hereto as Exhibit A describes certain components of your compensation for the 2018 fiscal year.  Annually thereafter during the term of your employment you will be provided with a new Compensation Addendum which will set forth the elements of your compensation for the applicable fiscal year as approved by the Compensation Committee of the Board of Directors of the Company.  After you receive and sign or otherwise agree to, including by continuing your employment with the Company, the compensation terms set forth in such subsequent versions of the Compensation Addendum, such terms shall be deemed incorporated herein by reference. You will be compensated for your services to the Company and its Affiliates, subject to your full performance of your obligations hereunder, as described in the applicable Compensation Addendum, as follows: 
(a)    Base Salary:  Your annual base salary (“Base Salary”) is set forth in the Compensation Addendum and is prorated for any partial calendar year.  
(b)    Target Performance Cash Potential (STI): Your Target Performance Cash Potential is described in the Compensation Addendum.  Each calendar year, the Compensation Committee will determine whether to provide an annual Target Performance Cash Potential, the metrics which must be achieved to receive the Target Performance Cash Potential and the amounts to be paid in connection with the achievement or partial achievement of any Target Performance Cash Potential.  Unless otherwise expressly set forth in the Compensation Addendum for any applicable fiscal year, (i) the earned portion of the Target Performance Cash Potential will be paid no more than 90 days after the close of the fiscal year, (ii) the Company reserves the right to amend, change, or cancel any Target Performance Cash Potential arrangement in its sole discretion and (iii) you must be employed through the date the Target Performance Cash Potential is paid in order to be eligible to receive it.  
(c)    Target Performance Equity Potential (LTI): Your Target Performance Equity Potential is described in the Compensation Addendum.  Each calendar year, the Compensation Committee will determine whether to provide an annual Target Performance Equity Potential, the metrics which must be achieved for you to receive the Target Performance Equity Potential and the equity amount you will receive in connection with the achievement or partial achievement of any Target Performance Equity Potential.  Unless otherwise expressly set forth in the Compensation Addendum for any applicable fiscal year, (i) the earned portion and/or vesting of any Target Performance Equity Potential for the fiscal year will be determined no more than 90 days after the close of that fiscal year, (ii) the Company reserves the right to amend, change, or cancel any Target Performance Cash Potential arrangement in its sole discretion and (iii) you must be employed through the date such Target Performance Equity Potential vests in order to be eligible to receive it.
(d)    Other Compensation:  Other types of cash or equity compensation (e.g., time-based stock grants) may, in the discretion of the Compensation Committee, be described in the Compensation Addendum.  The metrics associated with earning the other compensation described in the Compensation Addendum, or greater or lesser amounts if any, shall be set forth in the applicable Compensation Addendum.  Unless otherwise expressly set forth in the Compensation Addendum for any applicable fiscal year, you must be employed through the date such other compensation vests in order to be eligible to receive it.
(e)    Benefits:  You will have the right, on the same basis as other similarly-situated employees of the Company, to participate in and to receive benefits under any applicable medical, disability or other group insurance plans, as well as under the Company’s business expense reimbursement and other employee benefit plans or policies, except to the extent that such plans are duplicative of benefits otherwise provided for in this Agreement. Your participation will be subject to the terms of the applicable plan documents and generally applicable Company policies, as the same may be in effect from time to time, and any other restrictions or limitations imposed by law, including without limitation, applicable tax rules.  You will accrue paid vacation in accordance with the Company’s vacation policy.  The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time. 
(f)    Withholding:  All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law.
4.    Voluntary Termination.  In the event that you voluntarily resign from your employment with the Company or any of its Affiliates without Good Reason (as defined in Paragraph 5) or in the event that your employment terminates as a result of your death or Disability (as defined in Paragraph 6(c)), you will be entitled to no compensation or benefits from the Company other than those earned and vested under Paragraph 3 through the date of your termination.  You agree that if you voluntarily terminate your employment with the Company without Good Reason, you will provide the Company with reasonable written notice of your resignation.  The Company may, in its sole discretion, elect to waive all or any part of such notice period and accept your resignation at an earlier date. 
5.    Resignation for Good Reason.  During the twelve (12) month period after the Effective Date, you may terminate your employment for Good Reason within thirty (30) days of the event constituting Good Reason by delivering to the Company a notice specifying that you are terminating your employment for Good Reason, setting forth in reasonable detail the facts and circumstances you claim give you Good Reason, and giving the Company thirty (30) days to cure the circumstances you claim give you Good Reason.  If you deliver such a notice and the Company fails to cure the circumstances you claim give you Good Reason within thirty (30) days resulting in a Separation (as defined in Paragraph 6(c)) then the Company shall pay you the same Severance Pay (as defined below) and premiums to continue your group health insurance coverage under COBRA you would have received if your employment had been terminated without cause pursuant Paragraph 6(b) of this Agreement, provided however, that you must sign a general release of known and unknown claims in a form satisfactory to the Company in order to receive such severance.  For purposes of this Agreement, “Good Reason” shall mean any of the following events if effected by the Company without your consent within twelve (12) months after the Effective Date:  (i) a change in your position with the Company which materially diminishes your duties, responsibilities, or authority; (ii) a material diminution of your Base Salary; (iii) a relocation of your principal place of employment by more than forty (40) miles; (iv) a material breach of this Agreement by the Company which remains uncured after reasonable notice and an opportunity to cure; or (v) the Company’s failure to secure the written assumption of its material obligations under this Agreement from any successor to the Company.
6.    Other Termination.  Your employment may be terminated under the circumstances set forth below. 
(a)    Termination for Cause:  If your employment is terminated by the Company for cause as defined below, you shall be entitled to no compensation or benefits from the Company other than those earned and vested under Paragraph 3 through the date of your termination for cause. For purposes of this Agreement, a termination “for cause” occurs if you are terminated for any of the following reasons: (i) theft, dishonesty or falsification of any employment or Company records; (ii) improper disclosure of the Company’s confidential or proprietary information resulting in damage to the Company; (iii) any action or inaction by you which has a material detrimental effect on the Company’s reputation or business; (iv) your failure or inability to perform any assigned duties after written notice from the Company to you of, and a reasonable opportunity to cure, such failure or inability; (v) your conviction (including any plea of guilty or no contest) of a felony, or of any other criminal act if that act impairs your ability to perform your duties under this Agreement or (vi) your failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation. For purposes of this paragraph only, “Company” shall mean ZAGG and its Affiliates. 
(b)    Termination Without Cause:  As indicated above, your employment by the Company is “at will.”  If a Separation occurs because your employment is terminated by the Company without cause (and not as a result of your death or Disability), and if you sign a general release of known and unknown claims in form satisfactory to the Company, you will receive severance payments (“Severance Pay”) as described below.  If your employment is terminated without cause you will receive Severance Pay in an amount equal to twelve (12) months of your Base Salary in effect on the date of Separation paid in accordance with the Company’s normal payroll schedule after the date of your Separation. The Company will deliver the form of release to you within thirty (30) days after your Separation.  You must execute and return the release within the period set forth in the prescribed form.  The Severance Pay will commence on the first payroll period at least sixty (60) days after your termination of employment if you timely return the signed release.  During the applicable severance period, the Company will also pay the premiums to continue your group health insurance coverage under COBRA if you are eligible for COBRA and have elected continuation coverage under the applicable rules.  However, the Company’s COBRA payment obligations shall immediately cease to the extent you become eligible for group health benefits from a subsequent employer. 
(c)    Definition of Separation. For purposes of this Agreement, “Separation” means a “separation from service,” as defined in the regulations under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). For purposes of this Agreement, “Disability” means (i) your inability, by reason of physical or mental illness or other cause, to perform your duties hereunder on a full‐time basis for a period of 90 days in any one year period, or (ii) in the discretion of the Board, as such term is defined in any disability insurance policy in effect at the Company during the time in question.  
(d)    Commencement of Payments.  For purposes of Section 409A of the Code, each salary continuation payment under Paragraph 5 or 6(b) above is hereby designated as a separate payment.  If the Company determines that you are a “specified employee” under Section 409A(a)(2)(B)(i) of the Code at the time of your Separation, then (i) the salary continuation payments under Paragraph 5 or 6(b) above, to the extent that they are subject to Section 409A of the Code, will commence during the seventh month after your Separation and (ii) the installments that otherwise would have been paid during the first six months after your Separation will be paid in a lump sum when the salary continuation payments commence. 
7.    Confidential and Proprietary Information.  As a condition of your continued employment, you must sign the current version of the ZAGG Confidentiality, Non-Competition and Inventions Agreement, a copy of which is attached to this Agreement, governing non-competition, employee confidentiality, and assignment of inventions agreement. 
8.    Severability.  If any provision of this Agreement is deemed invalid, illegal or unenforceable, such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected. 
9.    Assignment. In view of the personal nature of the services to be performed under this Agreement by you, you cannot assign or transfer any of your obligations under this Agreement. 
10.    Entire Agreement. This Agreement and the agreements referred to above constitute the entire agreement between you and the Company regarding the terms and conditions of your employment, and they supersede all prior negotiations, representations or agreements between you and the Company regarding your employment, whether written or oral. 
11.    Modification. This Agreement may only be modified or amended by a supplemental written agreement signed by you and an authorized representative of the Company. 
12.    Governing Law.  This Agreement, and all matters relating hereto, including any matter or dispute arising out of the Agreement, shall be interpreted, governed, and enforced according to the laws of the State of Utah, without regard to conflict of laws principals.  
13.     Dispute Resolution.  All disputes and controversies arising out of or in connection with this Agreement, or your employment with the Company shall be resolved exclusively by the state and federal courts located in Salt Lake County in the State of Utah, and each party hereto agrees to submit to the jurisdiction of said courts and agrees that venue shall lie exclusively with such courts.  Each party hereby irrevocably waives, to the fullest extent permitted by applicable law, any objection which such party may raise now, or hereafter have, to the laying of the venue of any such suit, action or proceeding brought in such a court and any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum.  Each party agrees that, to the fullest extent permitted by applicable law, a final judgment in any such suit, action, or proceeding brought in such a court shall be conclusive and binding upon such party, and may be enforced in any court of the jurisdiction in which such party is or may be subject by a suit upon such judgment.
14.    Waiver of Jury Trial.  TO THE EXTENT PERMITTED BY LAW, EACH PARTY HEREBY WAIVES ITS RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT OR EMPLOYEE’S EMPLOYMENT BY THE COMPANY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE.  EACH PARTY HEREBY AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT WITHOUT A JURY.  WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS PARAGRAPH AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT, OR ANY PROVISION HEREOF.  THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.
15.    Attorneys’ Fees.  The prevailing party in any arbitration, court action or other adjudicative proceeding arising out of or relating to this Agreement or Employee’s employment with the Company shall be reimbursed by the party who does not prevail for the prevailing party’s reasonable attorneys’, accountants’, and experts’ fees and for the costs of such proceeding(s).  The provisions set forth in this Paragraph shall survive the merger of these provisions into any judgment.
16.    Paragraph Headings.  The paragraph headings of this Agreement are inserted only for convenience and in no way define, limit, or describe the scope or intent of this Agreement nor affect its terms and provisions.  
17.    Construction.  The parties hereto have participated jointly in the negotiation and drafting of this Agreement and no provision of this Agreement shall be construed against either party as the drafter thereof.  This Agreement is intended to be written, administered, interpreted, and construed in a manner such that no payment or benefits provided under the Agreement become subject to (i) the gross income inclusion set forth within Section 409A(a)(1)(A) of the Code, or (ii) the interest and additional tax set forth within Section 409A(a)(1)(B) of the Code (collectively, "Section 409A Penalties"), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties.
18.    Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Agreement, but all of which together shall constitute one and the same instrument.
19.     Indemnification.  Concurrent with the execution and delivery of this Agreement, you and the Company will enter into an Indemnity Agreement.
20.    Entire Agreement.  This Agreement is intended to be the final, complete, and exclusive statement of the terms of the parties’ agreement regarding the subject matter hereof and may not be contradicted by evidence of any prior or contemporaneous statements or agreements, except for agreements specifically referenced herein. To the extent that the terms of any prior agreement between the parties are inconsistent with the terms of this Agreement, the provisions of this Agreement shall control.  
21.    EMPLOYEE ACKNOWLEDGEMENT.  YOU HAVE HAD THE OPPORTUNITY TO CONSULT LEGAL COUNSEL CONCERNING THIS AGREEMENT AND HAVE OBTAINED AND CONSIDERED THE ADVICE OF SUCH LEGAL COUNSEL TO THE EXTENT YOU DEEM NECESSARY OR APPROPRIATE.  YOU HAVE READ AND UNDERSTAND THE AGREEMENT, ARE FULLY AWARE OF ITS LEGAL EFFECT, AND HAVE ENTERED INTO IT FREELY BASED ON YOUR OWN JUDGMENT AND NOT BASED ON ANY REPRESENTATIONS OR PROMISES OTHER THAN THOSE CONTAINED IN THIS AGREEMENT.
Please sign and date this letter on the spaces provided below to acknowledge your acceptance of the terms of this Agreement. 
ZAGG INC
By: /S/CHRIS AHERN
Chris Ahern
Title: Chief Executive Officer

Accepted and agreed this 7th day of March, 2018:
EMPLOYEE: 
/S/BRIAN STECH
Brian Stechimgn_Ex10_30

		

			 

		

		
			Exhibit 10.30
		

		
			 
		

		
			 
		

		
			 
		

		
			IMMUNOGEN INC.
		

		
			SEVERANCE PAY PLAN
		

		
			AND
		

		
			SUMMARY PLAN DESCRIPTION
		

		
			FOR VICE PRESIDENTS AND HIGHER
		

		
			As amended through February 15, 2018
		

		
			 
		

		
			

		 

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Amended as of  February 15, 2018

		

 

		

			 

		

		

		
			TABLE OF CONTENTS
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						I.

					
					
						Purpose

					
1
				
	
					
						II.

					
					
						Eligibility

					
1
				
	
					
						III.

					
					
						Severance Benefits

					
3
				
	
					
						IV.

					
					
						Conditions Governing Payment

					
5
				
	
					
						V.

					
					
						Reemployment

					
6
				
	
					
						VI.

					
					
						Plan Continuance

					
6
				
	
					
						VII.

					
					
						Administration of the Plan

					
6
				
	
					
						VIII.

					
					
						Claim and Claim Appeal Procedures

					
6
				
	
					
						IX.

					
					
						Your Rights Under ERISA

					
8
				
	
					
						X.

					
					
						Tax Information

					
9
				
	
					
						XI.

					
					
						Severability

					
10
				
	
					
						XII.

					
					
						General Information

					
11
				

		
			 
		

		
			 
		

		
			
		

		
			 
		

		
			

		 

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Amended as of  February 15, 2018

		

 

		

			 

		

		

		
			IMMUNOGEN INC.
		

		
			SEVERANCE PAY PLAN 
		

		
			AND
		

		
			SUMMARY PLAN DESCRIPTION
		

		
			FOR VICE PRESIDENTS AND HIGHER
		

		
			(As amended through February 15, 2018)
		

			
	
			
				 I.
			

			
	
			
			Purpose

		
			The purpose of the ImmunoGen, Inc. Severance Pay Plan for Vice Presidents and Higher (the “Plan”) is to provide, in the sole discretion of ImmunoGen, Inc. (the “Company”), a period of continued income and benefits (“Severance Benefits”) to eligible employees who serve in certain positions as designated by the Company, and whose employment with the Company is involuntarily terminated without Cause (as defined herein).
		

		
			 
		

		
			The Plan is designed to be an unfunded “employee welfare benefit plan,” as defined in Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and, accordingly, the Plan is governed by ERISA.  This document constitutes both the Plan document and the summary plan description required under ERISA.
		

		
			 
		

			
	
			
				 II.
			

			
	
			
			Eligibility

			
	
			
				 A.
			

			
	
			
			For purposes of this Plan, the term “Eligible Employee” means an employee of the Company:

			
	
			
				 1)
			

			
	
			
			who holds the position of Vice President and higher; and

			
	
			
				 2)
			

			
	
			
			whose employment with the Company is terminated by the Company without Cause.

			
	
			
				 B.
			

			
	
			
			For the avoidance of doubt, unless the Company provides otherwise in writing, Severance Benefits will NOT be paid to an employee:

			
	
			
				 1)
			

			
	
			
			terminating employment voluntarily;

			
	
			
				 2)
			

			
	
			
			on a leave of absence, whether approved or unapproved; 

			
	
			
				 3)
			

			
	
			
			terminated by the Company for Cause.  For purposes of this Plan, “Cause” means that the employee has, as determined by the Company in its sole discretion: (i) willfully committed an act or omission that materially harms the Company; (ii) been grossly negligent in the performance of the employee’s duties to the Company; (iii) willfully failed or refused to follow 

		 

		

			1

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15, 2018

		

 

		

			 

		

	the lawful and proper directives of the Chief Executive Officer or the Board of Directors of the Company (the “Board”); (iv) been convicted of, or pleaded guilty or nolo contendere, to a felony; (v) committed an act involving moral turpitude that is or is reasonably expected to be injurious to the Company or its reputation; (vi) committed an act relating to the employee’s employment or the Company involving in the good faith judgment of the Board, material fraud or theft; (vii) breached any material provision of any agreement between the employee and the Company or any nondisclosure or non-competition agreement between the employee and the Company, as all of the foregoing may be amended prospectively from time to time; or (viii) breached a material provision of any code of conduct or ethics policy in effect at the Company, as all of the foregoing may be amended prospectively from time to time (each of the foregoing hereinafter referred to as a “Violation”); provided, however, that if a Violation described in clauses (ii), (vii) or (viii) is susceptible of cure, the employee will be afforded a reasonable period (not to exceed twenty (20) business days) after receiving the initial written notice from the Company of such Violation to substantially cure such Violation prior to the Company taking any action to terminate the employee’s employment for Cause;

			
	
			
				 4)
			

			
	
			
			if the employee has been offered another reasonably comparable position with the Company, whether or not the employee accepts such offer; or

			
	
			
				 5)
			

			
	
			
			if the employee is entitled to receive severance compensation under the terms of any separate written agreement, including, without limitation, any change in control severance agreement or employment agreement, between the Company and the employee in connection with the termination of the employee’s employment following a change in control of the Company or otherwise.

		
			For purposes of clause (4) above, whether an offer is “reasonably comparable” will be determined by the Company in its sole reasonable discretion.  The Company shall, but is not necessarily limited to, consider the following factors in making such determination: (a) the change in commute; (b) a comparison of the offered annual base salary against the employee’s then current annual base salary; and (c) whether the employee is reasonably capable of performing the responsibilities of the position by training or experience.
		

			
	
			
				 C.
			

			
	
			
			Notwithstanding any provisions of this Plan to the contrary, the Company shall not be obligated to pay the employee and the employee shall not be eligible to receive any Severance Benefits set forth in Section III unless the employee executes, delivers, and does not revoke a “separation agreement” within the time period set forth in the separation agreement.  The separation agreement generally will include:

			
	
			
				 ·
			

			
	
			
			a release of claims;

			
	
			
				 ·
			

			
	
			
			a non-disparagement agreement;

		
			

		 

		

			2

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

		

			
	
			
				 ·
			

			
	
			
			a non-competition agreement;

			
	
			
				 ·
			

			
	
			
			a non-solicitation agreement; and

			
	
			
				 ·
			

			
	
			
			such other provisions that the Company may require.

		
			 
		

			
	
			
				 III.
			

			
	
			
			Severance Benefits

		
			Provided that an Eligible Employee satisfies all conditions for receipt in accordance with the terms of this Plan, an Eligible Employee shall be entitled to the following Severance Benefits:
		

			
	
			
				 A.
			

			
	
			
			Severance Pay

		
			An Eligible Employee will receive Severance Pay in accordance with the following schedule:
		

			
					
						Chief Executive Officer

					
					
						18 months

				
	
					
						Executive Officer (as designated by the Board) 

					
					
						12 months

				
	
					
						Vice President (other than Executive Officer)

					
					
						Two (2) weeks of salary for each year of service, subject to a minimum Severance Pay level of 26 weeks and a maximum Severance Pay level of 52 weeks

				

		
			Severance Pay will be calculated on the basis of the Eligible Employee’s highest annualized base salary in the 12 months preceding the date of termination of employment with the Company (the “Termination Date”).
		

		
			For these purposes, an Eligible Employee who is a Vice President (other than an Executive Officer) is entitled to credit for a year of service for each 12 month period of continuous service commencing on the Eligible Employee’s date of hire (or in the case of an Eligible Employee who has more than one period of service with the Company, the most recent date of hire); provided however, that credit for a full year of service will be given if the Termination Date is six (6) months or more from the most  recent anniversary date of the Eligible Employee’s date of hire (or most recent date of hire as noted above).
		

		
			Severance Pay will be paid by means of salary continuation payments commensurate with the Company’s normal payroll cycles, for the duration of the period described above (the “Severance Period”), to commence as soon as practicable following the effective date of the separation agreement, but no later than sixty (60) days following the Termination Date, subject to the provisions of Section II(C) and Section IV.  In case of the death of an Eligible Employee before the completion of all Severance Payments, any remaining Severance Payments will be paid in a lump sum to the beneficiary or beneficiaries as set forth in the Eligible 

		 

		

			3

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

Employee’s beneficiary designation under the Company’s group life insurance program as in effect on the Eligible Employee’s Termination Date, as soon as administratively feasible, but in no event later than sixty (60) days following the Company’s receipt of notice of the Eligible Employee’s death.  If no such beneficiary designation is in effect on the Termination Date, or if no such designated beneficiary(ies) survive the Eligible Employee, the remaining Severance Payments will be paid to Eligible Employee’s estate.
		

			
	
			
				 B.
			

			
	
			
			Annual Bonus

			
	
			
				 1)
			

			
	
			
			If not already paid on or prior to the Termination Date, an Eligible Employee will be entitled to receive a payment equal to his or her annual bonus related to the most recently completed calendar year, determined in accordance with the terms of the Company’s annual bonus program, if, as and when bonuses are paid to employees who were similarly situated officers of the Company as of the end of the most recently completed fiscal year.

			
	
			
				 2)
			

			
	
			
			For the calendar year in which the Eligible Employee’s termination occurs, the Eligible Employee will be entitled to receive his or her annual bonus related to such year, determined in accordance with the Company’s annual bonus program, if, as and when bonuses are paid to employees who were similarly situated officers of  the Company as of end of such year, provided that such bonus will be pro-rated to reflect the actual number of days the Eligible Employee was employed during the applicable calendar year.

		
			Any annual bonus amounts due to the Eligible Employee will be paid to the Eligible Employee at the same time bonuses are paid to other participants in the Company’s annual bonus program.  In case of the death of an Eligible Employee before payment of the annual bonus amounts due to the Eligible Employee, such bonus amounts will be paid to the beneficiary or beneficiaries as set forth in the Eligible Employee’s beneficiary designation under the Company’s group life insurance program as in effect on the Eligible Employee’s Termination Date.  If no such beneficiary designation is in effect on the Termination Date, or if no such designated beneficiary(ies) survive the Eligible Employee, the bonus amounts will be paid to the Eligible Employee’s estate.
		

			
	
			
				 C.
			

			
	
			
			COBRA Premium

		
			If an Eligible Employee timely elects to continue medical and dental coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will subsidize such Eligible Employee’s COBRA premium at the same rate the Company subsidizes coverage for similarly situated active employees, as such subsidy may be modified from time-to-time.  In the event that the Company determines that the COBRA premium subsidy is taxable income to Eligible Employees, the income will be reported on Form W-2 as imputed income.  The COBRA premium subsidy will continue for the duration of the 

		 

		

			4

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

Eligible Employee’s Severance Period, or until COBRA ends, if earlier.  Upon the cessation of the COBRA premium subsidy, the Eligible Employee will be entitled to continue his or her medical and/or dental coverage for the duration of the COBRA continuation period, if any, at the Eligible Employee’s own cost.
		

			
	
			
				 D.
			

			
	
			
			Outplacement Services

		
			Outplacement services lasting not less than 6 months will be provided at a level to be determined by the Company in its sole discretion.  If an Eligible Employee fails to commence utilization of the outplacement services provided by the Company within 60 days of his or her Termination Date, the outplacement services shall be forfeited.  In no event will an Eligible Employee be entitled to the cash value of the outplacement services in lieu of the outplacement services.
		

			
	
			
				 IV.
			

			
	
			
			Conditions Governing Payment

			
	
			
				 A.
			

			
	
			
			In addition to the satisfaction of any conditions set forth above, an Eligible Employee will only receive such Severance Benefits if the Company determines that the Eligible Employee has satisfied the following:

			
	
			
				 1)
			

			
	
			
			the Eligible Employee must continue to be actively at work to the satisfaction of the Company through the last day of work designated and as determined by the Company, in its sole discretion, unless the Eligible Employee’s absence is covered by the Company’s paid time off policy, or if the Company, in its sole discretion, has agreed in writing to adjust the Eligible Employee’s last day of work to an earlier date than previously scheduled; and

			
	
			
				 2)
			

			
	
			
			the Eligible Employee must have returned all Company property and settled satisfactorily all expenses owed to the Company.

			
	
			
				 B.
			

			
	
			
			Any Severance Benefits to which the Eligible Employee may be entitled will be offset, in the sole discretion of the Company, by any amounts the Eligible Employee may owe the Company, such as pay for time under the Company’s paid time off policy the Eligible Employee may have been advanced but was not earned at the time of termination, unauthorized or un-reconciled business expenses, and the value of any Company equipment in the Eligible Employee’s possession which the Eligible Employee has not returned to the Company.

			
	
			
				 C.
			

			
	
			
			Any Severance Benefits to which an Eligible Employee may be entitled shall immediately cease upon the determination by the Company that such Eligible Employee violated the terms of the separation agreement or the Proprietary Information, Inventions and Competition Agreement between the Company and the Eligible Employee.

		
			

		 

		

			5

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

		

			
	
			
				 V.
			

			
	
			
			Reemployment

		
			If rehired by the Company, any Severance Benefits to which an Eligible Employee may be entitled shall cease with the payment for the period ending the day immediately preceding the date of rehire.
		

			
	
			
				 VI.
			

			
	
			
			Plan Continuance

		
			The Company expects to continue this Plan indefinitely, but reserves the right to amend or terminate the Plan, or any portion of the Plan, at any time in its sole discretion by action of the Board.  Further, the Company, by action of the Board, reserves the right to modify the benefits set forth in this Plan, or to pay such other benefits as it may, in its sole discretion, deem appropriate, in addition to or in lieu of the benefits set forth in this Plan.  Notwithstanding the above, any amendment or modification to the Plan that decreases benefits available under the Plan will apply only to those employees who have a Termination Date after the effective date of such modification or amendment.
		

			
	
			
				 VII.
			

			
	
			
			Administration of the Plan

		
			The Company, acting through the Head of Human Resources (“HHR”), shall be the Plan Administrator.  The Plan Administrator shall have sole authority and discretion to administer and construe the terms of this Plan, subject to applicable requirements of law.  Without limiting the generality of the foregoing, the Plan Administrator shall have complete discretionary authority to carry out the following powers and duties:
		

			
	
			
				 1)
			

			
	
			
			to make and enforce such rules and regulations as it deems necessary or proper for the efficient administration of the Plan;

			
	
			
				 2)
			

			
	
			
			to interpret and construe the Plan, its interpretations and constructions thereof to be final and conclusive on all persons claiming Severance Benefits under the Plan;

			
	
			
				 3)
			

			
	
			
			to decide all questions, including without limitation, issues of fact, concerning the Plan, including the eligibility of any person to participate in, and receive Severance Benefits under the Plan; and

			
	
			
				 4)
			

			
	
			
			to appoint such agents, counsel, accountants, consultants and other persons as may be required to assist in the administration of the Plan.

			
	
			
				 VIII.
			

			
	
			
			Claim and Claim Appeal Procedures

		
			Employees who are eligible for Severance Payments under this Plan will be notified by the Company.  If you believe that you did not receive the Severance Benefits to which you were entitled, you need to make a claim with the Director, Human Resources Business Partner (the “HR Business Partner”). The HR Business Partner will review and make a decision with respect to your claim within 90 days of receipt of your claim, unless the HR Business Partner determines that special circumstances require an extension of time for processing the claim, in which case you will receive a written notice of the extension before termination of the initial 90-day period.  The 

		 

		

			6

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

extension notice will indicate the special circumstances requiring the extension and the date by which the HR Business Partner expects to render the benefit determination.
		

		
			If any claim is denied in whole or in part, you or your beneficiary will receive written notification within 90 days, including the reasons for the denial; reference to the specific Plan provisions on which the denial was based; information about additional material needed to pursue the claim, if any, and why such material is needed; and an explanation of the claim appeal procedure including a statement of your right to bring a civil action under § 502(a) of ERISA following an adverse benefit determination on appeal.  Within 60 days, you or your beneficiary may submit a written request for reconsideration of the claim to the HHR.
		

		
			You or your representative may submit written comments, documents, records, and other information relating to the claim for Severance Benefits.  Upon request and free of charge, you or your representative may have reasonable access to, and copies of, all documents, records, and other information relevant to your claim for Severance Benefits.
		

		
			The review by the HHR will take into account all comments, documents, records, and other information you submit relating to the claim, without regard to whether such information was submitted or considered in the initial Severance Benefits determination.
		

		
			The HHR will make a decision on your appeal within 60 days after the receipt of the appeal.  If the HHR determines that special circumstances require an extension of time for processing the appeal, you will receive a written notice of the extension before the end of the initial 60-day period.  The extension notice shall indicate the special circumstances requiring the extension and the date by which the Plan expects to render the determination on appeal.
		

		
			If your appeal is denied in whole or in part, you will receive a written notification including the reasons for the denial; reference to the specific Plan provisions on which the denial was based; a statement that you are entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to your claim for Severance Benefits; and a statement describing any voluntary appeal procedures offered by the Plan and your right to obtain information about such procedures, as well as a statement of your right to bring a civil action under § 502(a) of ERISA.
		

		
			The HHR will decide whether a hearing will be held on the claim and will notify you at least 14 days before the hearing, if one is to be held.
		

		
			To the extent permitted by law, decisions reached under the claims procedures set forth in this Section VIII shall be final and binding on all parties.  No action (whether at law, in equity or otherwise) shall be brought by or on behalf of any participant or Beneficiary for or with respect to benefits due under this Plan unless the person bringing such action has timely exhausted the Plan’s claim review procedure.  In any such legal action, the claimant may only present evidence and theories which the claimant presented during the claims procedure.  Any claims which the claimant does not in good faith pursue through the review stage of the procedure shall be treated as having been irrevocably waived.  Judicial review of a claimant’s denied claim shall be limited to a determination of whether the denial was an abuse of discretion based on the evidence and theories the claimant presented during the claims procedure.
		

		
			

		 

		

			7

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

		

		
			Any action (whether at law, in equity or otherwise) must be commenced within one (1) year and must be brought in a court of competent jurisdiction sitting in Waltham, Massachusetts.  This one (1) year period shall be computed from the earlier of: (a) the date a final determination denying such benefit, in whole or in part, is issued under the Plan’s claim review procedure; and (b) the date such individual’s cause of action first accrued (as determined under the laws of the Commonwealth of Massachusetts without regard to principles of choice of laws).
		

			
	
			
				 IX.
			

			
	
			
			Your Rights Under ERISA

		
			As a participant in the Plan you are entitled to certain rights and protections under ERISA.  ERISA provides that all Plan participants shall be entitled to:
		

			
	
			
				 A.
			

			
	
			
			Receive Information About Your Plan and Benefits

			
	
			
				 1)
			

			
	
			
			Examine, without charge, at the Plan Administrator’s office and at other specified locations, such as worksites and union halls, all documents governing the Plan, including insurance contracts, and a copy of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration.

			
	
			
				 2)
			

			
	
			
			Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan, including insurance contracts, and copies of the latest annual report (Form 5500 Series) and updated summary plan description.  The Plan Administrator may make a reasonable charge for the copies.

			
	
			
				 B.
			

			
	
			
			Prudent Actions by Plan Fiduciaries

		
			In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the Plan.  The people who operate your plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in your interest and that of other Plan participants and beneficiaries.  No one, including your employer or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a welfare benefit or exercising your rights under ERISA.
		

			
	
			
				 C.
			

			
	
			
			Enforce Your Rights

		
			If your claim for a welfare benefit is denied or ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules.
		

		
			Under ERISA, there are steps you can take to enforce the above rights.  For instance, if you request a copy of Plan documents or the latest annual report from the Plan and do not receive them within 30 days, you may file suit in a federal court.  In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator.  

		 

		

			8

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or federal court.  If it should happen that Plan fiduciaries misuse the Plan’s money, or if you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court.  The court will decide who should pay court costs and legal fees.  If you are successful, the court may order the person you have sued to pay these costs and fees.  If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous.
		

			
	
			
				 D.
			

			
	
			
			Assistance with Your Questions

		
			If you have questions about the Plan, you should contact the Plan Administrator.  If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210.  You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.
		

			
	
			
				 X.
			

			
	
			
			Tax Information

		
			It is intended that this Plan: (i) be exempt from the requirements of Section 409A of the Internal Revenue Code (the “Code”) of 1986 (“Section 409A”) to the maximum extent possible (under the short-term deferral rules of Treasury Regulation Section 1.409A-1(b)(4)(i) and/or the exemption for involuntary terminations under the separation pay plan rules of Treasury Regulation Section 1.409A-1(b)(9)(iii)).
		

		
			If this Plan is not exempt from the requirements of Section 409A of the Code, or to the extent the Plan is not so exempt, it is intended that the Plan comply with the requirements of Section 409A of the Code and the Plan shall be interpreted, operated and administered accordingly, including:
		

		
			(i)The phrase termination of employment, or any derivation thereof, shall mean a “separation from service” within the meaning of Code Section 409A.
		

		
			(ii)To the extent that this Plan requires that a payment shall be made following the execution of a waiver and release agreement, such payment or payments will only be made if the waiver and release agreement is executed prior to the 60th day following the Termination Date; provided, that if this 60 day period commences in one tax year and ends in the next tax year, no payment which is the subject of such waiver and release agreement may be made or commence (in the case of a series of payments), until the second of the tax years.  The Employee may not designate the year of such payment.
		

		
			(iii)To the extent that this Plan provides for the reimbursement of specified expenses incurred by an Eligible Employee, such reimbursement shall be made in accordance with the provisions of this Plan, but in no event later than the last day of the Eligible Employee’s taxable year following the taxable year in which the expense was 

		 

		

			9

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

incurred.  The amount of expenses eligible for reimbursement in any taxable year of the Eligible Employee shall not affect the amount of expenses to be reimbursed or provided in any other year (except in the case of maximum benefits to be provided under a medical reimbursement arrangement, if applicable).
		

		
			(iv)Payments in respect of an Eligible Employee’s termination of employment under this Plan are designated as separate payments for purposes of the short-term deferral rules under Treasury Regulation Section 1.409A-1(b)(4)(i)(F) and the exemption for involuntary terminations under separation pay plans under Treasury Regulation Section 1.409A-1(b)(9)(iii).  As a result, (a) any payments that become vested as a result of the Eligible Employee’s termination of employment under this Plan that are made on or before the 15th day of the third month of the later of the calendar year or Company fiscal year following the calendar or fiscal year of the Eligible Employee’s termination of employment, and (b) any additional payments that are made on or before the last day of the second calendar year following the year of the Eligible Employee’s termination of employment and do not exceed the lesser of two times base salary or two times the limit under Code Section 401(a)(17) then in effect, and (c) the payment of medical expenses within the applicable COBRA period, are exempt from the requirements of Code Section 409A.
		

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

		
			Notwithstanding anything in this Plan to the contrary, the Company does not guarantee the tax treatment of any Severance Benefits under this Plan, including without limitation pursuant to the Code, federal, state or local tax laws or regulations.
		

			
	
			
				 XI.
			

			
	
			
			Severability

		
			In the case any provision of the Plan is determined to be illegal or invalid for any reason, such illegality or invalidity will not affect the remaining parts of the Plan, but the Plan will be construed and enforced as if such illegal or invalid provision never existed.
		

		
			

		 

		

			10

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

		

 

		

			 

		

		

			
	
			
				 XII.
			

			
	
			
			General Information

			
					
						 

					
					
						 

				
	
					
						Plan Name:

					
					
						ImmunoGen, Inc. Severance Pay Plan for Vice Presidents and Higher

				
	
					
						Type of Plan: 

					
					
						Severance Pay Plan - Welfare Plan

				
	
					
						Name of Plan Sponsor:

					
					
						ImmunoGen, Inc.

					
						 830 Winter Street

					
						Waltham, MA 02451

					
						(781) 895-0600

					
						 

				
	
					
						Employer I.D. Number:

					
					
						04-2726691

				
	
					
						Plan Number:

					
					
						5 0 2

				
	
					
						Plan Administrator:

					
					
						ImmunoGen, Inc.

					
						c/o Chief Human Resources Officer

					
						830 Winter Street

					
						Waltham, MA 02451

					
						 

				
	
					
						Plan Agent for Service 
of Legal Process:

					
					
						ImmunoGen, Inc.

					
						c/o General Counsel

					
						830 Winter Street

					
						Waltham, MA 02451

					
						 

					
						Service of legal process also may be made on the Plan Administrator

					
						 

				
	
					
						Plan Year:

					
					
						January 1 through December 31

				

		
			 
		

		
			Amended effective as of February 15, 2018.
		

		
			 
		

		
			IMMUNOGEN INC.
		

		
			By:   /s/ Mark J. Enyedy
		

		
			Title:   President and Chief Executive Officer
		

		
			Date:   February 15, 2018
		

		 

		

			11

		

		

			ImmunoGen, Inc. Severance Pay Plan
 for Vice Presidents and Higher
Effective as of February 15 , 2018

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