Document:

exv10w8b

 

Exhibit 10.8B

AMENDMENT NO.1

TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     This
Amendment No. 1 to Amended and Restated Employment Agreement
is made as of this ___ 26th___ day
of December, 2006 (this “Amendment”), between AVALON PHARMACEUTICALS, INC., a Delaware corporation
(“Company”) and GARY LESSING (“Executive”).

     Company and Executive are each sometimes referred to as a “Party,” and are sometimes referred
to together as the “Parties.”

Background:

     The Parties entered into an Amended and Restated Employment Agreement on April 21, 2005 (the
“Employment Agreement”).

     In consideration of Executive’s continued employment with Company, the Parties want to amend
the Employment Agreement on the terms and conditions set forth in this Amendment.

     Now, therefore, in consideration of the foregoing, the Parties agree as follows:

     1. Capitalized terms used in this Amendment without definition, shall have the meanings give
those terms in the Employment Agreement.

     2. The paragraph under the caption “Review and Bonus” of the Employment Agreement is amended
to read in its entirety as follows:

“You will be eligible to receive an annual cash bonus targeted at 40% of your base
salary based upon the achievement of goals set by the CEO and the Board of
Directors. You will also be eligible for additional awards and bonuses as deemed
appropriate by the Board of Directors.”

     3. The first paragraph under the caption “Termination” of the Employment Agreement are amended
to read in its entirety as follows:

“Upon termination for any reason, the Company shall pay you within two weeks of such
termination, your current base salary earned through the termination date, plus
accrued vacation, if any, and other benefits or payments, if any, to which you are
entitled. In the event you are terminated by the Company without “Cause” (as
hereinafter defined) or if you terminate your employment with the Company for “Good
Reason” (as hereinafter defined), the Company shall (i) immediately vest one-half
(1/2) of all options and shares granted to you under the Company’s stock option
plans that have not vested as of the date of your termination; (ii) pay you a lump
sum severance payment equal to one year of your base salary as in effect at

 

 

the time of termination; and (iii) reimburse you for premiums you pay for health
care insurance under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”),
for the same level of coverage that you maintain at the time of your termination,
for a period up to one year following termination, provided you elect COBRA
coverage. The Company’s reimbursement obligation will end immediately if you become
eligible to obtain health care insurance from any other employer during the payment
period. You shall not be required to mitigate damages by seeking employment
elsewhere. The Company shall not be obligated to continue any such payments to you
under this paragraph in the event that you materially breach the terms under the
Confidentiality Agreement attached hereto. Notwithstanding any termination of your
employment, you shall continue to be bound by the provisions of the Confidentiality
Agreement.

     4. The fourth paragraph under the caption “Termination” of the Employment Agreement is amended
to read in its entirety as follows:

“Termination of your employment by you shall constitute termination for “Good
Reason” if such termination occurs (a) within eighteen months of a Change in
Control, (b) within three months of a material diminution in your responsibilities
as Chief Financial Officer (provided that such diminution is not in connection with
the termination of your employment for Cause), (c) within three months of your
principal work location changing to be more than 75 miles from your current
residence, (d) a diminution in your salary, or (e) in the event you should die while
an employee of the Company. The Company shall notify you, within 10 days of receipt
of your notice of intent to terminate your employment for Good Reason, if the
Company disagrees with your intent to terminate under this paragraph.”

     5. Except as set forth in this Amendment, the terms and conditions of the Employment Agreement
shall remain in full force and effect.

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     IN WITNESS WHEREOF, the Parties have executed this Amendment to Amended and Restated
Employment Agreement as of the date first set forth above.

	 	 	 	 	 
	 	AVALON PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/ Kenneth C. Carter
 	 
	 	Name:  	 	 
	 	Title:  	President and CEO 	 
	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ Gary Lessing
 	 
	 	Gary Lessing 	 
	 	 	 
	 

3exv10w9b

 

Exhibit 10.9B

AMENDMENT NO.1

TO

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     This
Amendment No. 1 to Amended and Restated Employment Agreement
is made as of this ___ 26th___ day
of December, 2006 (this “Amendment”), between AVALON PHARMACEUTICALS, INC., a Delaware corporation
(“Company”) and DAVID BOL (“Executive”).

     Company and Executive are each sometimes referred to as a “Party,” and are sometimes referred
to together as the “Parties.”

Background:

     The Parties entered into an Amended and Restated Employment Agreement on April 21, 2005 (the
“Employment Agreement”).

     In consideration of Executive’s continued employment with Company, the Parties want to amend
the Employment Agreement on the terms and conditions set forth in this Amendment.

     Now, therefore, in consideration of the foregoing, the Parties agree as follows:

     1. Capitalized terms used in this Amendment without definition, shall have the meanings give
those terms in the Employment Agreement.

     2. The first paragraph under the caption “Termination” of the Employment Agreement is amended
to read in its entirety as follows:

“Upon termination for any reason, the Company shall pay you within two weeks of such
termination, your current base salary earned through the termination date, plus
accrued vacation, if any, and other benefits or payments, if any, to which you are
entitled as provided in accordance with the terms and conditions of such benefit
plan. In the event you are terminated by the Company without “Cause” (as
hereinafter defined), or if you terminate your employment with the Company for “Good
Reason” (as hereinafter defined), the Company shall (i) pay you a lump sum severance
payment equal to six months of your base salary as in effect at the time of
termination (nine months in the event such termination is without Cause or for Good
Reason within eighteen months after a Change in Control (as hereinafter defined));
(ii) provide you with outplacement services; and (iiii) reimburse you for premiums
you pay for health care insurance under the Consolidated Omnibus Budget
Reconciliation Act (“COBRA”), for the same level of coverage that you maintain at
the time of your termination, for a period up to six months (nine months in the
event such termination is without Cause or for Good Reason within eighteen months
after a Change in Control) following termination, provided you elect COBRA coverage.
The Company’s

 

 

reimbursement obligation will end immediately if you become eligible to obtain
health care insurance from any other employer during the payment period. You shall
not be required to mitigate damages by seeking employment elsewhere. If you are
terminated with Cause, the Company shall pay you only your current base salary
earned through the termination date, plus accrued vacation, if any, to which you are
entitled as provided in accordance with the terms and conditions of such benefit
plan.”

     3. A new paragraph shall be added under the caption “Termination” of the Employment Agreement
at the end of such section and shall read in its entirety as follows:

“Should the Company be the subject of a Change in Control, the Company shall
immediately vest one-half (1/2) of all shares and options granted to you that have
not vested as of the date the Change in Control takes effect.”

     4. Except as set forth in this Amendment, the terms and conditions of the Employment Agreement
shall remain in full force and effect.

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     IN WITNESS WHEREOF, the Parties have executed this Amendment to Amended and Restated
Employment Agreement as of the date first set forth above.

	 	 	 	 	 
	 	AVALON PHARMACEUTICALS, INC.

 	 
	 	By: 	/s/ Kenneth C. Carter
 	 
	 	Name:	 	 
	 	Title:	CEO and President 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ David K. Bol
 	 
	 	David Bol 	 
	 	 	 
	 

3exv10w10b

 

Exhibit 10.10(B)

AMENDMENT NO.1

TO

EMPLOYMENT AGREEMENT

     This
Amendment No. 1 to Employment Agreement is made as of
this 26th day of December, 2006
(this “Amendment”), between AVALON PHARMACEUTICALS, INC., a Delaware corporation (“Company”) and J.
MICHAEL HAMILTON (“Executive”).

     Company and Executive are each sometimes referred to as a “Party,” and are sometimes referred
to together as the “Parties.”

Background:

     The Parties entered into a letter of employment on April 20, 2006 (the “Employment
Agreement”).

     In consideration of Executive’s continued employment with Company, the Parties want to amend
the Employment Agreement on the terms and conditions set forth in this Amendment.

     Now, therefore, in consideration of the foregoing, the Parties agree as follows:

     1. Capitalized terms used in this Amendment without definition, shall have the meanings give
those terms in the Employment Agreement.

     2. The first paragraph under the caption “Termination” of the Employment Agreement is amended
to read in its entirety as follows:

“Upon termination for any reason, the Company shall pay you within two weeks of such
termination, your current base salary earned through the termination date, plus
accrued vacation, if any, and other benefits or payments, if any, to which you are
entitled as provided in accordance with the terms and conditions of such benefit
plan. In the event you are terminated by the Company after the 90-day Introductory
Period without “Cause” (as hereinafter defined), or if you terminate your employment
with the Company for “Good Reason” (as hereinafter defined), the Company shall (i)
pay you a lump sum severance payment equal to six months of your base salary as in
effect at the time of termination (nine months in the event such termination is
without Cause or for Good Reason within eighteen months after a Change in Control
(as hereinafter defined)); (ii) provide you with outplacement services; and (iii)
reimburse you for premiums you pay for health care insurance under the Consolidated
Omnibus Budget Reconciliation Act (“COBRA”), for the same level of coverage that you
maintain at the time of your termination, for a period up to six months (nine months
in the event such termination is without Cause or for Good Reason within eighteen
months after a Change in Control) following termination, provided you elect COBRA
coverage.
The Company’s reimbursement obligation will end immediately if you become

 

 

eligible
to obtain health care insurance from any other employer during the payment period.
You shall not be required to mitigate damages by seeking employment elsewhere. If
you are terminated with cause, the Company shall pay you only your current base
salary earned through the termination date, plus accrued vacation, if any, to which
you are entitled as provided in accordance with the terms and conditions of such
benefit plan.”

     3. A new paragraph shall be added under the caption “Termination” of the Employment Agreement
at the end of such section and shall read in its entirety as follows:

“Should the Company be the subject of a Change in Control, the Company shall
immediately vest (i) in the event such Change in Control takes effect prior to the
first year anniversary of your Start Date, one-quarter (1/4) of all shares and
options granted to you that have not vested as of the date the Change in Control
takes effect; and (ii) in the event such Change in Control takes effect on or after
the first year anniversary of your Start Date, one-half (1/2) of all shares and
options granted to you that have not vested as of the date the Change in Control.”

     4. Except as set forth in this Amendment, the terms and conditions of the Employment Agreement
shall remain in full force and effect.

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2

 

     IN WITNESS WHEREOF, the Parties have executed this Amendment to Amended and Restated
Employment Agreement as of the date first set forth above.

	 	 	 	 	 
	 	AVALON PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/ Kenneth C. Carter
 	 
	 	Name:  	 	 
	 	Title:  	CEO and President 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ J. Michael Hamilton
 	 
	 	J. Michael Hamilton 	 
	 	 	 
	 

3

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