SEC Contract Filing

Filing Date: 2017-03-16

Document Content:
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<TYPE>EX-10.8
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<FILENAME>d304275dex108.htm
<DESCRIPTION>EXHIBIT 10.8
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<TITLE>Exhibit 10.8</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT TO EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Amendment (&#147;<B>Amendment</B>&#148;) is entered into effective December&nbsp;14, 2016 (the &#147;<B>Effective</B> <B>Date</B>&#148;),
by and between Chiasma (Israel) Ltd., registration number 513104026, a company incorporated in the State of Israel (the &#147;<B>Company</B>&#148;), and Roni Mamluk (&#147;<B>Executive</B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company and Executive entered into an Employment Agreement dated December&nbsp;16, 2014, as amended on November&nbsp;15,
2016 (the &#147;<B>Employment</B> <B>Agreement</B>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Company and Executive wish to amend certain provisions
of the Employment Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>NOW,</B> <B>THEREFORE</B>, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, intending to be legally bound, the parties hereto agree as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">Each reference in the Employment Agreement to the &#147;<B>New</B> <B>CEO</B>&#148; is replaced by &#147;<B>CEO</B>.&#148; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">Section&nbsp;2 of the Employment Agreement is hereby deleted and replaced with the following: </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B><U>EMPLOYMENT;</U><U> </U><U>CONSULTING</U><U> </U><U>RELATIONSHIP</U>. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">2.1 (a). <U>Employment</U>. The Company hereby continues to employ Executive as the Chief Development Officer of the Company, as described
herein, until March&nbsp;31, 2017, unless the Executive&#146;s employment is earlier terminated as provided in Section&nbsp;8, or unless Executive and the Company agree to extend the March&nbsp;31, 2017 date. March&nbsp;31, 2017, or any later
termination date <FONT STYLE="white-space:nowrap">agreed-to</FONT> by Executive and the Company, is referred to as the &#147;<B>Automatic</B> <B>Termination</B> <B>Date</B>.&#148; The Executive&#146;s termination on the Automatic Termination Date
(if applicable) is referred to as an &#147;<B>Automatic</B> <B>Termination</B>.&#148; Executive&#146;s position shall be full time. Executive agrees to be employed by the Company in such capacity and to discharge and perform faithfully and to the
best of her ability such duties and services of an executive, administrative and managerial nature consistent with her position, as applicable, as shall be specified and determined from time to time by the Board of Directors of Parent (the
<B>&#147;Board&#148;)</B> or the Company&#146;s Chief Executive Officer (the &#147;<B>CEO</B>&#148;) after consultation with Executive. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">2.1(b). <U>Consulting Relationship</U>. If Executive remains employed with the Company until the Automatic Termination Date, effective as of
such Automatic Termination Date, Executive shall immediately, without any break in service to the Company, commence a consulting relationship with the Company pursuant to the Consulting Agreement attached hereto as Exhibit A (the &#147;Consulting
Agreement&#148;). If Executive does not remain employed with the Company until the Automatic Termination Date, Executive shall not commence the consulting relationship and the Consulting Agreement shall be <I>void</I> <I>ab</I> <I>initio</I>, unless
the Company in its sole discretion elects to offer the Consulting Agreement to Executive. </P>

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<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">Section&nbsp;3 of the Employment Agreement is amended by adding, at the end of the first sentence after the word &#147;Business,&#148; the words &#147;<I>provided</I> that, during the Employment Period, Executive may
serve on one outside board seat and may be engaged as a consultant outside of the Company, <I>further</I> <I>provided</I> that such board seat and consultant activity does not conflict with Executive&#146;s duties to the Company, including without
limitation the Confidentiality, <FONT ST