SEC Contract Filing

Filing Date: 2018-05-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>imgn-20180331ex10592ac92.htm
<DESCRIPTION>EX-10.5
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 <font style="display:inline;font-weight:bold;font-style:italic;">Exhibit 10.5</font>

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 <font style="display:inline;font-weight:bold;">CHANGE IN CONTROL SEVERANCE AGREEMENT</font>
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 <font style="display:inline;">This Agreement is entered into as of the 23</font><font style="display:inline;font-size:6pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display:inline;">&nbsp;day of April, 2018 (the &#x201C;</font><font style="display:inline;font-weight:bold;font-style:italic;">Effective Date</font><font style="display:inline;">&#x201D;) by and between ImmunoGen, Inc., a Massachusetts corporation (the &#x201C;</font><font style="display:inline;font-weight:bold;font-style:italic;">Company</font><font style="display:inline;">&#x201D;), and Blaine H. McKee (the &#x201C;</font><font style="display:inline;font-weight:bold;font-style:italic;">Executive</font><font style="display:inline;">&#x201D;).</font>
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 <font style="display:inline;">WHEREAS, the Company recognizes that the Executive&#x2019;s service to the Company is very important to the future success of the Company;</font>
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 <font style="display:inline;">WHEREAS, the Executive desires to enter into this Agreement to provide the Executive with certain financial protection in the event that his employment terminates under certain conditions following a change in control of the Company; and</font>
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 <font style="display:inline;">WHEREAS the Board of Directors of the Company (the &#x201C;</font><font style="display:inline;font-weight:bold;font-style:italic;">Board</font><font style="display:inline;">&#x201D;) has determined that it is in the best interests of the Company to enter into this Agreement.</font>
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 <font style="display:inline;">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:</font>
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 <font style="margin:0pt 36pt 12pt 0pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;;;padding:0pt 26pt 0pt 0pt;"> 1.</font>
 <font style="display:inline;text-decoration:underline;">Definitions</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
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 <font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 27pt 0pt 0pt;"> (a)</font>
 <font style="display:inline;text-decoration:underline;">Cause</font><font style="display:inline;">.&nbsp;&nbsp;For purposes of this Agreement, &#x201C;</font><font style="display:inline;font-weight:bold;font-style:italic;">Cause</font><font style="display:inline;">&#x201D; shall mean</font><font style="display:inline;color:#000000;"> that the Executive has (i)</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">willfully committed an act or omission that materially harms the Company; (ii)</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">been grossly negligent in the performance of the Executive&#x2019;s duties to the Company; (iii)</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">willfully failed or refused to follow the lawful and proper directives of the Board; (iv)</font><font style="display:inline;">&nbsp;</font><font style="display:inline;color:#000000;">been convicted of, or pleaded guilty or </font><font style="display:inline;font-style:italic;color:#000000;">nolo contendere</font><font style="display:inline;color:#000000;">, to a felony; (v)</font><font style="display:inline