SEC Contract Filing

Filing Date: 2017-08-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d415295dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<div style="width:790px"></div>
 <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="margin-top:0pt;margin-bottom:0pt" ALIGN="center">

<IMG SRC="g415295g0802092147912.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July&nbsp;26, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">William
A. Sullivan </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Bill, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Applied Genetic Technologies
Corporation (the &#147;Company&#148;, &#147;AGTC&#148;) is pleased to offer you a full-time position as <B>Chief Financial Officer </B>beginning at an <B>annual base salary of $340,000</B>. Your net compensation will be less applicable deductions,
taxes, and other amounts required by federal and state laws. This offer is contingent upon satisfactory completion of reference and background checks. Your start date will be August 7<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>, 2017 or
at a time mutually agreed by you and the company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You will be eligible to participate in the management performance bonus plan. You will be eligible for
a <B>bonus of up to 35% of your then annual base salary</B> based on completion of specific goals defined and agreed to at the beginning of each fiscal year (July 1st). The actual amount of the bonus will be subject to the approval of the Board of
Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a Company employee, you will be eligible to enroll in the employee benefit plans and programs as described and provided by our leasing
agent TriNet. AGTC is a drug free workplace and you will therefore be required to submit to a drug screening; authorization for this will be sent separately by TriNet. The <B>Company</B> <B>contribution towards health insurance, and other benefits
which you may choose, will be approximately $800 per month. </B>If you need to cover any additional family members the Company will pay an additional amount equal to 50% of the difference between individual coverage and family coverage. The Company
also offers its employees participation in a 401(k) plan also administered through TriNet and <B>matches each employee&#146;s contribution up to a maximum of 4% of their annual salary</B>. Each employee has full control over investment vehicle
selection and monitoring. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company has set up an Employee Incentive Stock Option Plan in which you are eligible to participate. Upon formal approval
by the Board of Directors,<B> you will be issued options </B>with an exercise price as determined by the Board to be Fair Market Value at the time of their grant. These options will vest over a period of four years, with 25% vesting initially on the
<FONT STYLE="white-space:nowrap">one-year</FONT> anniversary of the date of your start date and 1/48 each month thereafter until all the shares subject to the option have vested on the fourth anniversary of your start date. If there is a Change of
Control and you are not offered the position of CFO at the acquiring company, then immediately upon the Change of Control your options will fully and immediately vest and become exercisable. For purposes of this letter agreement, a &#147;Change of
Control&#148; shall mean the occurrence of any of the following events <U>other than</U> in connection with the consummation of an initial public offering of the Company&#146;s securities. In all respects, the definition of Change in Control shall
be interpreted to comply with Section&nbsp;409A, and any successor statute, regulation and guidance thereto: (i)&nbsp;any &#147;person&#148; (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) who is
not a shareholder of the Company as of the date of this letter agreement or an affiliate thereof is or becomes the &#147;beneficial owner&#148; (as defined in Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under said Act), directly or
indirectly, of securities of the Company representing </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT
 COLOR="#84050a"><B></B>One Kendall Square, 1400W, Suite B14305, Cambridge, MA 02139&nbsp;&nbsp;&#9679;&nbsp;&nbsp;617.843.5728&nbsp;&nbsp;&#9679;&nbsp;&nbsp;<B>agtc.com</B><B> </B></FONT></P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<div style="width:790px"></div>

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">William A. Sullivan</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">July 26, 2017</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"> Page
 2
 of 5</P></TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt;