SEC Contract Filing

Filing Date: 2025-01-10

Document Content:
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<TYPE>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">675 Massachusetts Avenue, 14<SUP STYLE="font-size:75%; vertical-align:top">th</SUP> Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Cambridge, MA 02139 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">January&nbsp;10, 2025&#8195;&#8195;&#8195;&#8195; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Satayavrat Shukla </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Interim Period Agreement </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Sath: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This letter confirms that you and Spero
Therapeutics, Inc., a Delaware corporation (&#147;Company&#148;) have agreed that you will be placed on an administrative leave, commencing January&nbsp;10, 2025. The Company and its Board of Directors (the &#147;Board&#148;) believes that you acted
at all times in good faith and consistent with your obligations. The Company has taken this action solely to minimize any potential distractions pending the resolution of the Wells process. We appreciate your cooperation in connection with this
administrative leave. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">During your administrative leave you will not hold the positions of President and Chief Executive Officer or principal executive
officer of the Company. The Board has appointed Esther Rajavelu to assume those responsibilities during your leave. As such, during your administrative leave, you will have no management or operational role at the Company. The Company appreciates
your cooperation to remain available as a resource if specifically called upon by Ms.&nbsp;Rajavelu or the Board, but otherwise expects that all business will be directed on behalf of the Company by Ms.&nbsp;Rajavelu during your administrative
leave, and you will not be a participant in Company operations during your leave (i.e., you may not take any action or engage in any conduct on behalf of the Company or as an agent of the Company, including, but not limited to, communicating in
written or oral form with employees, consultants, clinical researchers, shareholders, vendors, or other business partners of the Company, without the prior written authorization of Ms.&nbsp;Rajavelu and/or the Board). Notwithstanding the foregoing,
you will remain available to the Board and to Ms.&nbsp;Rajavelu at their request, including to respond to questions and to assist with transitioning your duties and responsibilities while you remain on leave. In addition, you will continue to serve
as a member of the Board subject to the current terms of your directorship and may continue to provide your normal board service during your administrative leave. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">During your administrative leave, you will continue to be entitled to all rights and benefits as a full-time employee under the Amended and Restated Executive
Employment Agreement between you and the Company dated August&nbsp;1, 2023 including, without limitation. receiving your full current base salary and continue to participate in the employee benefits plans sponsored by the Company in which you and
your eligible dependents participate. In addition, you will be treated </P>
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as being continuously employed for purposes of the equity awards issued to you under the Company&#146;s 2017 and 2019 Stock Incentive Plans, including without limitation with respect to vesting,
and you remain in &#147;good standing&#148; for purposes of the Retention Bonus as defined in and payable to you under the Retention Bonus Agreement, dated as of November&nbsp;13, 2024, by and between you and the Company, subject to the achievement
of the milestones and other terms and conditions of the Retention Bonus Agreement. You are also entitled to all rights under the Indemnification Agreement between you and the Company dated December&nbsp;9, 2020. In the interest of clarity, nothing
herein or in any other agreements, documents or communications related to the administrative leave shall be construed as a waiver of any of your rights under any existing agreement betwee