SEC Contract Filing

Filing Date: 2019-03-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.22
<SEQUENCE>2
<FILENAME>mrns-20181231ex102242fe8.htm
<DESCRIPTION>EX-10.22
<TEXT>
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 <font style="display:inline;font-weight:bold;">EXHIBIT 10.22</font>
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 <font style="display:inline;font-size:11pt;">EMPLOYMENT AGREEMENT</font>
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 <font style="display:inline;font-size:11pt;">THIS EMPLOYMENT AGREEMENT </font><font style="display:inline;">(this &#x201C;Agreement&#x201D;) is entered into as of February 26, 2019 (the &#x201C;Effective Date&#x201D;), by and between Marinus Pharmaceuticals, Inc. (the &#x201C;Company&#x201D;), a Delaware corporation with offices at Three Radnor Corporate Center, 100 Matsonford Road, Suite 304, Radnor, PA 19087, and Scott Braunstein, an individual residing in Livingston, New Jersey (the &#x201C;Executive&#x201D;) (the Company and the Executive, together, the &#x201C;Parties&#x201D;).</font>
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 <font style="display:inline;font-weight:bold;text-decoration:underline;">Recitals</font><font style="display:inline;font-weight:bold;">:</font>
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 <font style="display:inline;">The Parties desire to enter into this Agreement to provide for the employment of the Executive by the Company and for certain other matters in connection with such employment, all as set forth more fully in this Agreement.</font>
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 <font style="display:inline;text-transform:uppercase;">I</font><font style="display:inline;">n consideration of the mutual promises, covenants, and conditions set forth in this Agreement, the Parties agree as follows:</font>
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 <font style="margin:0pt 0pt 12pt;font-weight:bold;font-style:normal;text-transform:uppercase;text-decoration:none;color:#010000;font-size:11pt;text-decoration:none;line-height:100%;border-bottom-style:solid;border-bottom-width:1pt;font-family:Times New Roman,Times,serif;;;padding:0pt 25pt 0pt 0pt;"> Section 1.</font>
 <font style="display:inline;">EMPLOYMENT POSITION, DUTIES AND RESPONSIBILITIES</font></p></td></tr></table></div>
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 <font style="margin:0pt 0pt 8pt;text-transform:none;text-decoration:none;color:#010000;text-decoration:none;font-family:Calibri;line-height:107.92%;font-size:12pt;;;padding:0pt 26pt 0pt 0pt;"> a.</font>
 <font style="font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:12pt;border-bottom-style:solid;border-bottom-width:1pt;height:100%;text-indent:0pt;">Position.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="font-family:Times New Roman,Times,serif;font-size:12pt;display:inline;">The Company wishes to employ the Executive as the Executive Chairman of the Company, and the Executive hereby accepts the position of Executive Chairman for the term of this Agreement.&nbsp;&nbsp;In this role, the Executive will have such corporate authority as determined by the Board of Directors of the Company. </font></p></td></tr></table></div>
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 &nbsp;
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 <font style="font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;font-size:12pt;border-bottom-style:solid;border-bottom-width:1pt;height:100%;text-indent:0pt;">The Executive&#x2019;s Commitment.</font><font style="display:inline;color:#000000;"> &nbsp; &nbsp;</font><font style="font-family:Times New Roman,Times,serif;font-size:12pt;display:inline;">The Executive shall be employed on a part-time basis, and the Executive agrees to commit a minimum of two days per week, or approximately 40% of the Executive&#x2019;s business time (the &#x201C;Minimum Time Commitment&#x201D;) as an executive officer of the c