This Employment Agreement (the Agreement) is entered into as of January 1, 2016, by and between Dr. Brian K. Kaspar, Ph.D. (the Executive) and AveXis, Inc., a Delaware Corporation (the Company).
A. The Company desires the association and services of Executive and his skills, abilities, background and knowledge, and is willing to engage Executives services on the terms and conditions set forth in this Agreement.
B. Executive desires to be in the employ of the Company, and is willing to accept such employment on the terms and conditions set forth in this Agreement.
C. This Agreement supersedes any and all prior and contemporaneous oral or written employment agreements or arrangements between Executive and the Company or any predecessor thereof, including, without limitation that Consulting Agreement, dated January 28, 2014.
In consideration of the foregoing, the parties agree as follows:
1. TERM OF EMPLOYMENT.
The Executives term of employment with the Company
shall commence on the date hereof, and shall continue for eighteen (18) months (the Initial Term) unless terminated earlier in accordance with Section 8 of this Agreement. After the expiration of the Initial Term, this Agreement shall automatically renew for additional successive one (1) year periods (collectively, the Renewal Terms) upon the same terms and conditions that existed at the expiration of the then current Initial Term or Renewal Term, as applicable, unless either party provides written notice of an intent not to renew at least ninety (90) days prior to the expiration of the Initial Term or the then current Renewal Term. The Initial Term together with any Renewal Term shall hereinafter be referred to as the Employment Term.
2. EMPLOYMENT BY THE COMPANY.
2.1 Position; Duties; Location. Subject to the terms and conditions of this Agreement, Executive shall hold the position of Founder and Chief Scientific Officer. Executives activities shall be as directed by the Companys Chief Executive Officer (CEO) and shall have such duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies. Notwithstanding anything in this Agreement to the contrary, Executive shall not conduct or engage in Research for Company outside of his role at RI (as defined below). For purposes of this Agreement, Research is defined as the systematic, investigation including, research