SEC Contract Filing

Filing Date: 2023-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>glyc-20230331xex10d2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.14.0.96--><!--Created on: 5/2/2023 06:20:15 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;line-height:1.37;text-align:right;margin:0pt;"><a name="_Hlk103163456"></a><b style="font-weight:bold;">Exhibit 10.2</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><a name="_heading=h.gjdgxs"></a><font style="font-size:14.5pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 24pt 0pt;">February 14, 2023</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 24pt 0pt;"><font style="font-style:italic;font-weight:bold;">Modified </font><b style="font-weight:bold;">February 21, 2023</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">John Magnani, Ph.D.</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">12819 Doe Lane</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">Gaithersburg MD 20878</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;margin:0pt;">E-mail: &#160;jmagnani@glycomimetics.com</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:bold;">Re:</b></font><b style="font-weight:bold;">Transition Agreement</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Dear John:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><a name="_heading=h.30j0zll"></a>This letter sets forth the substance of the Transition Agreement (the &#8220;<font style="font-style:italic;font-weight:bold;">Transition Agreement</font>&#8221; or &#8220;<font style="font-style:italic;font-weight:bold;">Agreement</font>&#8221;) which GlycoMimetics, Inc. (the &#8220;<font style="font-style:italic;font-weight:bold;">Company</font>&#8221;) is offering to you.</p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-left:0pt;margin-top:0pt;padding-bottom:12pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-weight:bold;min-width:36pt;text-indent:0pt;white-space:nowrap;">1.</font><b style="font-weight:bold;">Transition Services.</b> &#160;If you execute this Agreement by no later than 11:59 a.m. Eastern Time on February 21, 2023, then your employment with the Company will continue for a Transition Period from the date of this Agreement through March 31, 2023 (the &#8220;<font style="font-style:italic;font-weight:bold;">Transition Period</font>&#8221;). &#160;If you do not timely execute this Agreement, your employment will end on February&#160;21, 2023.<b style="font-weight:bold;"> &#160;</b>If you timely sign this Agreement, the Company will not terminate your employment prior to<b style="font-weight:bold;"> </b>the end of the Transition Period unless, the Company determines in its good faith, reasonable discretion that you have materially breached your obligations under this Agreement or any other agreement between you and the Company. The date your employment ends for any reason is your &#8220;<font style="font-style:italic;font-weight:bold;">Separation Date</font>.&#8221; &#160;During the Transition Period, you will not be expected or permitted to report to the Company&#8217;s offices or to perform other duties except to answer questions to allow for an orderly transition. &#160;Your employment during the Transition Period will be at the same salary and with the same benefits in effect prior to the date of this Agreement, however, you will not be eligible to receive any 2022 bonus.</div><div style="border-top-style:none;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-left:0pt;padding-bottom:12pt;padding-top:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-weight:bold;min-width:36pt;text-indent:0pt;white-space:nowrap;">2.</font><b style="font-weight:bold;">Transition Benefits. &#160;</b>If you (a) execute this Agreement by no later than 11:59 a.m. Eastern Time on February 21, 2023, (b) execute the Updated Release of Claims attached to this Agreement as <b style="font-weight:bold;">Exhibit A</b