SEC Contract Filing

Filing Date: 2024-10-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tm2426107d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</B></P>

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 <TD STYLE="text-align: left; width: 35%; vertical-align: top"><IMG SRC="logo.jpg" ALT="">&nbsp;</TD>
 <TD STYLE="width: 65%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify">&nbsp;</P>
 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><B>Praxis Precision
Medicines, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><B>99 High Street, 30<SUP>th</SUP>
Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><B>Boston, MA 02110</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><B><U>www.praxismedicines.com</U></B></P> </TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">October 11, 2024</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alex Nemiroff</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">[***]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>RE: Employment Agreement Amendment</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Alex:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to the amended
and restated employment agreement, executed by you on October 1, 2020, between Praxis Precision Medicines, Inc. (the &ldquo;<U>Company</U>&rdquo;)
and you (the &ldquo;<U>Employment Agreement</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">By your signature to this
letter, effective as of the date hereof, the Employment Agreement will be amended as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following will be added as a new Section 5.2(ii)(c) of the Employment Agreement:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;(c)&#9;To the extent unpaid as
of the date of Executive&rsquo;s employment termination, the Company shall pay Executive an amount in cash equal to the Annual Bonus earned
by Executive for the calendar year prior to the calendar year in which the date of Executive&rsquo;s employment termination occurs, based
on actual performance as determined in accordance with established policies for the determination of the Annual Bonus, which Annual Bonus,
if any, shall be paid to Executive in the calendar year in which the date of Executive&rsquo;s employment termination occurs when bonuses
for such year are paid to actively employed senior executives of the Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The following will be added as a new Section 5.2(ii)(d) of the Employment Agreement:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&ldquo;(d)&#9;The Company shall pay
Executive an amount in cash equal to a pro-rata portion of the Annual Bonus for the calendar year in which the date of Executive&rsquo;s
employment termination occurs, determined by multiplying (i) the Annual Bonus amount based on actual performance for the year as determined
in accordance with established policies for the determination of the Annual Bonus by (ii) a fraction, using the number of days of the
calendar year elapsed prior to the date of Executive&rsquo;s employment termination as the numerator and the number of days in such cal