This Employment Agreement ("Agreement") is made as of the 8th day of June,
2018, between AVROBIO, Inc., a Delaware corporation (the "Company"), and Nerissa Kreher (the "Executive") and is effective as of the closing of the Companys first underwritten public offering of its equity securities
pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Effective Date").
the Company and the Executive are parties to an existing employment agreement, dated November 1, 2016 (the "Prior Agreement"); and
WHEREAS, the parties intend to replace the Prior Agreement with this Agreement, effective as of the Effective Date.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree to restate the Prior Agreement as follows:
(a) Term. The term of this Agreement shall commence on the Effective Date and continue until terminated in
accordance with the provisions hereof (the "Term"). The Executives employment with the Company will continue to be "at will," meaning that the Executives employment may be terminated by the Company or the Executive at
any time and for any reason subject to the terms of this Agreement.
(b) Position and Duties. During the Term, the Executive shall
serve as the Chief Medical Officer of the Company, and shall have supervision and control over and responsibility for the day-to-day business and affairs of the Company
and shall have such other powers and duties as may from time to time be prescribed by the Board of Directors of the Company (the "Board"), the Chief Executive Officer of the Company (the "CEO") or other authorized executive. The
Executive shall devote her full working time and efforts to the business and affairs of the Company. Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the approval of the Board, or engage in religious,
charitable or other community activities as long as such services and activities are disclosed to the Board and do not materially interfere with the Executives performance of her duties to the Company as provided in this Agreement. For the
avoidance of doubt, the Executive may continue to serve in the roles set forth on Schedule 1 hereto without the necessity of further approval from the Board, provided that no conflicts result in the future from the Executives service in such
2. Compensation and Related Matters.
(a) Base Salary. During the Term, the Executives annual base salary shall be $365,650. The Executives base salary shall be
reviewed annually by the Board or the Compensation Committee of the Board (the "Compensation Committee"). The base salary in effect at any given time is referred to herein as "Base Salary." The Base Salary shall be payable in a
manner that is consistent with the Companys usual payroll practices for executive officers.
(b) Incentive Compensation.
During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executives initial target annual incentive compensation shall be
twenty-five percent of her Base Salary (as in effect at any time, the "Target Annual Incentive Compensation"). Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day
such incentive compensation is paid.
(c) Expenses. The Executive shall be entitled to receive prompt reimbursement for all
reasonable expenses incurred by her during the Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its senior officers.