SEC Contract Filing

Filing Date: 2021-01-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101separationagreem.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i1055d5b2f934431cbaf3204fa01dc7c8_1"></div><div style="min-height:99.35pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">EXHIBIT 10.1</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">January 25, 2021</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Confidential</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">RYAN K. ZEIDAN</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Re&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Separation from Employment</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">Dear RYAN&#58; </font></div><div style="padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;The purpose of this letter agreement (&#8220;Agreement&#8221;) is to confirm the terms of your separation of employment from Millendo Therapeutics US, Inc. (&#8220;Millendo&#8221; or &#8220;the Company&#8221;). Except for the obligations set forth in Section 2 which shall be solely the obligations of Millendo Therapeutics US, Inc., the term &#8220;Millendo&#8221; or the &#8220;Company&#8221; as otherwise used in this Agreement shall be deemed to include Millendo Therapeutics, Inc., and any and all of its divisions, franchisees, licensees, affiliates, parents, subsidiaries, and all related entities, and its and their directors, officers, employees, partners, members, representatives, trustees, agents, successors, predecessors, and assigns. The Severance Pay and Benefits described below are contingent on your agreement to and compliance with the provisions of this Agreement, as set forth below. This Agreement shall be effective on the eighth (8</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:120%;position:relative;top:-4.2pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">) day after you sign and do not revoke it (the &#8220;Effective Date&#8221;).</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27pt;text-decoration:underline">Separation of Employment</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">. Your employment with Millendo shall terminate effective January 29, 2021 (the &#8220;Separation Date&#8221;), or earlier if agreed to by you and Millendo or as per Section 5(a). You acknowledge that from and after the Separation Date, you have no authority to, and shall not, represent yourself as an employee or agent of the Company. </font></div><div style="padding-left:36pt;padding-right:-9pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">a.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27.68pt;text-decoration:underline">Wages</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">. On the Separation Date, you will be paid all wages earned but unpaid through the Separation Date and any earned bonus for 2020. </font></div><div style="padding-left:54pt;padding-right:-9pt"><font><br></font></div><div style="padding-left:36pt;padding-right:-9pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">b.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:27pt;text-decoration:underline">Group Medical, Dental, and Vision Plans</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">. If you are enrolled in Company-sponsored medical, dental and&#47;or vision plans, coverage for you and any enrolled dependents will end on your Separation Date. Subject to Section 2(c) below, under the Federal Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), following your Separation Date, you and your dependents may be eligible to continue your group health plan benefits. You will receive COBRA continuation information by separate correspondence. </font></div><div style="padding-left:54pt;padding