SEC Contract Filing

Filing Date: 2025-03-06

Document Content:
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<TYPE>EX-10.22
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<FILENAME>ex102210012021_xeris-ame.htm
<DESCRIPTION>EX-10.22
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<DIV><FONT size="1" style="font-size:1pt;color:white">1 AMENDED AND RESTATED EMPLOYMENT AGREEMENT This Amended and Restated Employment Agreement (&#8220;Agreement&#8221;) is made by and among Xeris Biopharma Holdings, Inc., a Delaware corporation (the &#8220;Parent&#8221;), Xeris Pharmaceuticals, Inc., a Delaware corporation and wholly-owned subsidiary of the Parent (the &#8220;Company&#8221;), and Ken Johnson (the &#8220;Executive&#8221;) and is effective as of the closing date of the transactions contemplated by the Transaction Agreement by and among Strongbridge Biopharma plc, the Company and the other parties set forth therein dated May 24, 2021 (the &#8220;Effective Date&#8221;). WHEREAS, the parties intend to replace any prior agreement(s) between the Executive and the Company, the Parent or any predecessors, successors or assigns relating to the terms and conditions of the Executive&#8217;s employment and the ending of the Executive&#8217;s employment with this Agreement, effective as of the Effective Date, except that any agreement the Executive entered into with respect to confidentiality, intellectual property/assignment of inventions, non-solicitation and/or noncompetition (collectively, &#8220;Restrictive Covenants&#8221;) shall remain in full force and effect unless otherwise specified herein. NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Employment. (a) Term. The term of this Agreement shall commence on the Effective Date and continue until terminated in accordance with the provisions hereof (the &#8220;Term&#8221;). The Company shall employ the Executive, and the Executive&#8217;s employment with the Company will continue to be &#8220;at will,&#8221; meaning that the Executive&#8217;s employment may be terminated by the Company or the Executive at any time and for any reason subject to the terms of this Agreement. (b) Position and Duties. The Executive shall serve as the Senior Vice President, Global Development &amp; Medical Affairs of the Parent and shall have such powers and duties as may from time to time be prescribed either by the Board of Directors of the Parent (the &#8220;Board&#8221;), the Chief Executive Officer of the Parent or other authorized executive. The Executive shall devote the Executive&#8217;s full working time and efforts to the business and affairs of the Company. Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the prior written approval of the Board, or engage in religious, charitable or other community activities as long as such services and activities do not interfere with the Executive&#8217;s performance of the Executive&#8217;s duties as provided in this Agreement. 2. Compensation and Related Matters. (a) Base Salary. The Executive&#8217;s initial annual base salary shall be $372,904. The Executive&#8217;s base salary may be reviewed and adjusted by the Board or the Compensation Committee of the Board (the &#8220;Compensation Committee&#8221;). The base salary in Exhibit 10.22 </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">2 effect at any given time is referred to herein as &#8220;Base Salary.&#8221; The Base Salary shall be payable in a manner that is consistent with the Company&#8217;s usual payroll practices for executive officers. (b) Incentive Compensation. The Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive&#8217;s initial target annual incentive compensation shall be 40 percent of the Executive&#8217;s Base Salary (the &#8220;Target Annual Incentive Compensation&#8221;). Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid. (c) Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive during the Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company. (d) Other Benefits. The Executive shall be eligible to participate in or receive benefits under the Company&#8217;s employee benefit plans in effect from time to time, subject to the terms of such plans. (e) Vacations. The Executive shall be entitled to paid vacation in accordance with the Company&#8217;s then applicable policies and procedures. The Executive shall also be entitled to all paid holidays given by the Company. 3. Termination. The Executive&#8217;s employment hereunder may be terminated without any breach of this Agreement under the following circumstances: (a) Death. The Executive&#8217;s employment hereunder shall terminate upon the Executive&#8217;s death. (b) Disability. The Company may terminate the Executive&#8217;s employment if the Executive is disabled and unable to perform the essential functions of the Executive&#8217;s then existing position or positions under this Agreement with or without reasonable accommodation for a period of 180 days (which need not be consecutive) in any 12-month period.