SEC Contract Filing

Filing Date: 2021-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.25
<SEQUENCE>3
<FILENAME>idra-20201231xex10d25.htm
<DESCRIPTION>EX-10.25
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.9.1.77--><!--Created on: 3/1/2021 09:05:16 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:27.35pt;min-height:36pt;width:100%;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;table-layout:fixed;width:100%;"><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-family:'Arial','Helvetica','sans-serif';font-weight:bold;">Exhibit 10.25</b></p></td></tr><tr><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><img src="idra-20201231xex10d25001.jpg" alt="Graphic" style="display:inline-block;height:55.5pt;width:117pt;"></p></td><td style="vertical-align:top;width:50%;margin:0pt;padding:0pt;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;text-align:right;margin:0pt;"><font style="font-size:12pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr></table></div><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">November 16, 2020</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;">Daniel Soland </p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;">[Street Address]</p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;"><font style="font-size:11pt;">[City, State, Zip Code]</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;">Dear Daniel, </p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;">On behalf of Idera Pharmaceuticals, Inc., (&quot;Company&quot;), we are pleased to offer you the position of <b style="font-weight:bold;">Senior Vice President &amp; Chief Operating Officer</b>, reporting directly to <b style="font-weight:bold;">Vin Milano</b>, <b style="font-weight:bold;">President &amp; CEO</b>. This role will report to our <b style="font-weight:bold;">Exton Pennsylvania </b>office. Your start date will be determined upon your acceptance of this offer. A summary of the terms of your employment follows.</p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><b style="font-weight:bold;">Exempt Base Salary </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;">Your base salary will be based on a semi-monthly pay schedule at the rate of <b style="font-weight:bold;">USD $17,708.34</b>. This annualizes to a full-time equivalent of <b style="font-weight:bold;">USD $425,000.16 </b>and will be subject to customary tax withholdings and other payroll deductions. The Company utilizes a semi-monthly pay period, which ends on the 15th and the last day of the month. This position is considered an exempt position for purposes of federal wage-hour law, which means that you will not be eligible for overtime time pay for hours actually worked in excess of 40 in a given work week.</p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;"><b style="font-weight:bold;">Annual Incentive Plan </b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt;">Subject to the terms of the Company&#39;s Annual Incentive Plan (AIP) then in effect, you are eligible to earn a target incentive award of <b style="font-weight:bold;">40% </b>of your annual base salary. Awards are discretionary and the determination of this discretionary award is subject to evaluation of performance at the corporate and individual levels, and other performance criteria as they apply to your position. AIP will be pro-rated in your first year of hire, based on your start date.</p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;margin:0pt