Exhibit 10.24
Aldeyra Therapeutics, Inc.
131 Hartwell Avenue, Suite 320
Lexington, MA 02421
November 26, 2019
Bruce Greenberg
xx xxxxx xxxxx
xxxxxxxx, xx xxxxx
Dear Bruce:
Aldeyra Therapeutics, Inc. (the “Company”) is pleased to offer you employment on the following terms:
The Option will be subject to acceleration in connection with a change of control, subject to the terms and conditions of the Company’s Change in Control Plan effective as of March 28, 2017, as such plan may be amended or restated from time to time.
“Cause” means (a) your unauthorized use or disclosure of the Company's confidential information or trade secrets, which use or disclosure causes material harm to the Company, (b) your material breach of any written agreement between you and the Company, (c) your material failure to comply with the Company's written policies or rules,
(d) your conviction of, or your plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State, (e) your violation of U.S. securities laws, (f) your gross negligence or willful misconduct in performance of your duties, (g) your continuing failure to perform assigned duties after receiving written notification of the failure from the Company's Board of Directors or (h) your failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation.
“Continuation Period” means a period equal to the number of full months you have provided continuous service to the Company as of the date of your Separation; provided, however, in no event shall the Continuation Period be greater than 6 months.
“Involuntary Termination” means your Termination Without Cause.
“Separation” means a “separation from service,” as defined in the regulations under Section 409A of the Code.
“Termination Without Cause” means a Separation as a result of a termination of your employment by the Company without Cause.
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We hope that you will accept our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the attached Proprietary Information and Inventions Agreement and returning them to me. This offer, if not accepted, will expire at the close of business on November 29, 2019. As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and authorization to work in the United States. Your employment is also contingent upon (i) your starting work with the Company on or before December 16, 2019, (ii) your completing an employment application and (iii) a background and/or reference check to the Company’s satisfaction.
If you have any questions, please call me at 781-257-3043 x219.
Very truly yours, | |
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Aldeyra Therapeutics, Inc. | |
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s/s Joshua Reed | |
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By: | Joshua Reed |
Title: | Chief Financial Officer |
I have read and accept this employment offer:
s/s Bruce Greenberg | |
Signature of Bruce Greenberg | |
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Dated: | 11/27/2019 |
Attachment
Exhibit A: Proprietary Information and Inventions Agreement