AMENDMENT to the EMPLOYMENT AGREEMENT between Nivalis Therapeutics, Inc. (formerly known as N30 Pharmaceuticals, Inc.) and Jon Congleton (“Employee”)
Exhibit 10.7
AMENDMENT to the
between
Nivalis Therapeutics, Inc. (formerly known as N30 Pharmaceuticals, Inc.)
and
Xxx Xxxxxxxxx (“Employee”)
WHEREAS, Nivalis Therapeutics, Inc. (formerly known as N30 Pharmaceuticals, Inc. (the “Company”)) and the Employee entered into an employment agreement (the “Agreement”) effective as of January 1, 2015;
WHEREAS, the Company and the Employee desire to amend the Agreement to change the provision relating to accelerated vesting of stock options in connection with Termination/Severance;
NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for other good and valuable consideration, the parties agree as follows:
1. Section 5(e)(iii) is amended to read as follows:
(iii) the Company shall cause any issued but unvested options scheduled to vest in the 12 months following the Employee’s Termination Date to immediately vest; provided, however, that this sentence shall not diminish the 100% vesting contemplated by 5(f) below in connection with a Change in Control.
2. Except as amended herein, the provisions of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the Company has caused this Amendment to be executed and Employee has hereunto set his hand as of March 6, 2015.
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By: |
/s/ R. Xxxxxxx Xxxxxxxxxx |
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Name: |
R. Xxxxxxx Xxxxxxxxxx |
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Title: |
Chief Financial Officer |
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Date: |
3/6/15 |
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EMPLOYEE | |
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By: |
/s/ Xxx Xxxxxxxxx |
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Xxx Xxxxxxxxx, Chief Executive Officer |
