April 13, 2022
By Electronic Mail
James C. Mullen
Dear Jim:
Reference is made to that certain Employment Offer Letter dated February 13, 2021 between Editas Medicine, Inc. (the “Company”), and you regarding the terms of your employment with the Company (the “Offer Letter”). This letter (the “Amendment”), shall be effective June 1, 2022, confirms the agreement between the Company and you regarding an amendment to the Offer Letter.
1.Sections 1 and 2 of the Offer Letter are hereby amended by deleting such sections in their entirety and inserting the following in lieu thereof:
1.You will be employed to serve as Executive Chair, effective June 1, 2022 (the “Effective Date”). From the Effective Date through December 31, 2022, you will be a full-time employee of the Company. As of January 1, 2023 (the “Transition Date”), you will be a part-time Executive Chair, and you will be expected to devote approximately 50% of your business time to the Company. As Executive Chair, you will report to the Board of the Directors (the “Board”) and be responsible for such duties as are consistent with such position and as reasonably directed by the Board. During your employment as Executive Chair, you will remain a member of the Board. Upon the ending of your employment as Executive Chair, if so requested in writing by the Company, you shall immediately resign from the Board as well as from your position as Executive Chair and any other position(s) with the Company to which you were elected or appointed in connection with your employment or Board membership.
2.As of the Effective Date, your base salary will continue to be at the rate of $27,291.67 per semi-monthly pay period (equivalent to an annualized base salary of $655,000.00), subject to tax and other withholdings as required by law. As of the Transition Date, your base salary will be at the rate of $13,645.83 per semi-monthly pay period (equivalent to an annualized base salary of $327,500.00), subject to tax and other withholdings as required by law. Such base salary may be increased from time to time in accordance with normal business practice and in the sole discretion of the Company. In addition, while you remain employed as the Company’s Executive Chair, the Company will provide you with a benefits allowance of $2,750 per month, less applicable taxes and withholdings, payable in accordance with the Company’s normal payroll cycle. Such benefits allowance may be modified from time to time in the sole discretion of the Company.
2.Section 9 of the Offer Letter is hereby amended by inserting the following language at the conclusion of Section 9.
