![]() The offer letter further provides for the grant of an initial option to purchase 628,952 shares of our common stock, which was granted on September25, 2019 at an exercise price of $0.10 per share, and a grant of an option to purchase 331,982 shares of our common stock following the milestone closing of our SeriesA-2 preferred stock financing, which was granted on March10, 2020 at an exercise price of $0.16 per share. ![]() Chakraborty received a one-time signing bonus equal to $30,000, with an additional payment to cover all taxes resulting from the payment of the signing bonus. Chakrabortys annual base salary was increased to $325,000 in connection with his appointment as our Chief Scientific Officer in November 2020. Chakrabortys annual base salary based on the achievement of goals established by our board of directors. Table of Contents target annual bonus equal to 30% of Dr. By signing below, you authorize the Company to immediately offset against and reduce any amounts otherwise due to you for any amounts due to the Company in respect of your obligation to repay the Signing Bonus under this paragraph. ![]() ![]() ![]() Notwithstanding the foregoing, you acknowledge and agree that if you voluntarily resign or the Company terminates your employment for Cause (each, a Termination Event) prior to the second anniversary of your Start Date, you shall repay a portion of the Signing Bonus to the Company within 30 days of such Termination Event without reduction for any taxes withheld by the Company upon its payment to you of the Signing Bonus, as follows: (i)if there is a Termination Event prior to the first anniversary of your Start Date, you shall repay to the Company 50% of the Signing Bonus and (ii)if there is a Termination Event on or after the first anniversary of your Start Date, but prior to the second anniversary of your Start Date, you shall repay to the Company 33% of the Signing Bonus. Signing Bonus: The Company agrees to pay you a one-time cash signing bonus in an amount equal to $100,000 (the Signing Bonus), payable upon the Companys first regular payroll date following the Start Date and subject to all applicable tax reporting and withholding requirements. ![]()
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