SEC Contract Filing

Filing Date: 2023-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.20
<SEQUENCE>8
<FILENAME>imgn-20221231xex10d20.htm
<DESCRIPTION>EX-10.20
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.14.0.96--><!--Created on: 3/1/2023 08:24:48 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="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 10.20</b></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;text-transform:uppercase;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;white-space:pre-wrap;">ADDENDUM A TO MICHAEL J. VASCONCELLES OFFER LETTER</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;text-align:center;text-transform:uppercase;margin:0pt 0pt 12pt 0pt;">CHANGE IN CONTROL SEVERANCE AGREEMENT</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">This Agreement is entered into as of the 29th day of December, 2022 (the &#8220;<font style="font-style:italic;font-weight:bold;">Effective Date</font>&#8221;) by and between ImmunoGen, Inc., a Massachusetts corporation (the &#8220;<font style="font-style:italic;font-weight:bold;">Company</font>&#8221;), and Michael Vasconcelles (the &#8220;<font style="font-style:italic;font-weight:bold;">Executive</font>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">WHEREAS, the Company recognizes that the Executive&#8217;s service to the Company is very important to the future success of the Company;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">WHEREAS, the Executive desires to enter into this Agreement to provide the Executive with certain financial protection in the event that Executive&#8217;s employment terminates under certain conditions following a&#8217; change in control of the Company; and</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">WHEREAS the Board of Directors of the Company (the &#8220;<font style="font-style:italic;font-weight:bold;">Board</font>&#8221;) has determined that it is in the best interests of the Company to enter into this Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive hereby agree as follows:</p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:0pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;vertical-align:baseline;white-space:nowrap;">1.</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Definitions</u>.</div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">(a)</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Cause</u>. &#160;For purposes of this Agreement, &#8220;<font style="font-style:italic;font-weight:bold;">Cause</font>&#8221; shall mean that the Executive has (i) willfully committed an act or omission that materially harms the Company; (ii) been grossly negligent in the performance of the Executive&#8217;s duties to the Company; (iii) willfully failed or refused to follow the lawful and proper directives of the Board; (iv) been convicted of, or pleaded guilty or <i style="font-style:italic;">nolo contendere,</i> to a felony; (v) committed an act involving moral turpitude that is or is reasonably expected to be injurious to the Company or its reputation; (vi) committed an act relating to the Executive&#8217;s employment or the Company involving, in the good faith judgment of the Board, material fraud or theft; (vii) breached any material provision of this Agreement or any nondisclosure or non-competition agreement between the Executive and the Company, as all of the foregoing may be amended prospectively from time to time; or (viii) breached a material provision of any code of conduct or ethics policy in effect at the Company, as all of the foregoing may be amended prospectively from time to time.</div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;text-indent:0pt;vertical-align:baseline;white-space:nowrap;">(b)</font><u style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Change in Control</u>. &#160;For purposes of this Agreement, a &#8220;<font style="font-style:italic;font-weight:bold;">Change in Control</font>&#8221; shall mean the occurrence of any of the following events:</div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:36pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;min-width:36pt;text-decoration-line:none;text-indent:0pt;vert