SEC Contract Filing

Filing Date: 2021-02-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.20
<SEQUENCE>3
<FILENAME>alny2020q4exhibit-1020.htm
<DESCRIPTION>EX-10.20
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2021 Workiva -->
<title>Document</title></head><body><div id="i68eb64beb15840b1befe3c3add1b74b5_1"></div><div style="min-height:72pt;width:100%"><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 10.20</font></div></div><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:120%">CHANGE IN CONTROL AGREEMENT</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">This Change in Control Agreement (&#8220;Agreement&#8221;) is made as of the 2</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.63pt;font-weight:400;line-height:120%;position:relative;top:-4.11pt;vertical-align:baseline">nd</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%"> day of November 2020 by and between Alnylam Pharmaceuticals, Inc., a Delaware corporation (the &#8220;Company&#8221;), and John M. Maraganore, Ph.D. (the &#8220;Executive&#8221;).</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%;padding-left:27.2pt;text-decoration:underline">Purpose</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">. The Company considers it essential to the best interests of its stockholders to promote and preserve the continuous employment of key management personnel. The Board of Directors of the Company (the &#8220;Board&#8221;) recognizes that, as is the case with many corporations, the possibility of a Change in Control (as defined in Section&#160;2 hereof) exists and that such possibility, and the uncertainty and questions that it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of members of the Company&#8217;s key management, including the Executive, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change in Control. Nothing in this Agreement shall be construed as creating an express or implied contract of employment and, except as otherwise agreed in writing between the Executive and the Company, the Executive shall not have any right to be retained in the employ of the Company.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%;padding-left:27.2pt;text-decoration:underline">Change in Control</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">. A &#8220;Change in Control&#8221; shall be deemed to have occurred upon the occurrence of any one of the following events&#58;</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">(a)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%;padding-left:22.97pt">any &#8220;person,&#8221; as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Act&#8221;) (other than the Company, any of its subsidiaries, or any trustee, fiduciary or other person or entity holding securities under any employee benefit plan or trust of the Company or any of its subsidiaries), together with all &#8220;affiliates&#8221; and &#8220;associates&#8221; (as such terms are defined in Rule 12b-2 under the Act) of such person, shall become the &#8220;beneficial owner&#8221; (as such term is defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing 50 percent or more of the combined voting power of the Company&#8217;s then outstanding securities having the right to vote in an election of the Board (&#8220;Voting Securities&#8221;) (in such case other than as a result of an acquisition of securities directly from the Company)&#59; or</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">(b)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%;padding-left:22.31pt">the date a majority of the members of the Board is replaced during any 24-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election&#59; or</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11.75pt;font-weight:400;line-height:120%">(c)</font><font style="color:#000000;font-family:'Times New Roman',sans-serif