EX-10.1





 Exhibit 10.1 

Global Blood Therapeutics, Inc. 

Change in Control Policy 

Adopted on July 23, 2015 

(amended on January 6, 2016, July 5, 2017, July 26, 2017, 

December 13, 2017, March 13, 2018, July 23, 2019 and October 16, 2019) 

In connection with a Sale Event (as defined in the Global Blood Therapeutics, Inc. 2015 Stock Option and Incentive Plan (as may be further
amended or restated, the “2015 Plan”)), employees of Global Blood Therapeutics, Inc. and its subsidiaries and affiliates (collectively, the “Company”) will be entitled to receive the following benefits in the event
of a termination of their employment or other service relationship with the Company (or its successor or acquirer) without Cause (as defined in the 2015 Plan) or for Good Reason (as defined below) within one year after the closing of the Sale Event,
subject to each such employee’s execution and non-revocation of a severance agreement within 60 days following the date of such termination, including a general release of claims acceptable to the Company
or its successor or acquirer: 
  

	 	•	 	 Full acceleration of vesting of all outstanding equity-based awards, including stock options and restricted stock
units (collectively, “Awards”), under the 2015 Plan, the Company’s 2017 Inducement Equity Plan (as each may be further amended or restated), and such additional equity incentive plans, arrangements and agreements covering
employees of the Company as the Board may adopt and approve from time to time, and for the sake of clarity, for any Awards accelerated in such manner that contain conditions and restrictions relating to the attainment of performance goals, such
performance goals will be deemed achieved at one hundred percent (100%) of target levels; 


  

	 	•	 	 Payment of (a) severance in a lump sum in the amounts set forth below, (b) target incentive bonus
payouts in the amounts set forth below, equal to (i) 100% of the employee’s incentive bonus target for the year in which the closing of the Sale Event occurred plus (ii) a prorated incentive bonus payout for the portion of the year in
which the closing of the Sale Event occurred, prorated based on employee’s incentive bonus target and the date of termination of their employment or other service relationship with the Company and (c) if the employee was participating in
the Company’s group health plan immediately prior to the date of termination of his or her employment and elects COBRA health continuation, payment of a monthly cash payment for the period set forth below or the employee’s COBRA health
continuation period, whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the employee if the employee had remained
















	 	 
employed by the Company, including, if applicable, the monthly employer contribution to a health savings account: 



 

							
	 Position
	  	 Severance (Amount

of Base Salary)
	  	 Incentive Bonus
	  	 Benefits

Continuation

	Chief Executive Officer	  	18 months	  	1x bonus target and prorated payout	  	18 months
				
	Senior Management Team Members and Principal Accounting Officer (1)	  	12 months	  	1x bonus target and prorated payout	  	12 months
				
	Senior Vice Presidents and Vice Presidents (other than Senior Management Team Members)	  	6 months	  	1x bonus target and prorated payout	  	6 months
				
	Senior Directors and Directors	  	5 months	  	1x bonus target and prorated payout	  	5 months
				
	All Other Employees	  	4 months	  	1x bonus target and prorated payout	  	4 months

  

	(1)	 For purposes of this Change in Control Policy, Senior Management Team Members have been designated by the
Compensation Committee of the Company’s Board of Directors and include all of the Company’s executive officers (other than the Chief Executive Officer), who shall each continue to be considered Senior Management Team Members for purposes
of Change in Control Benefits so long as they are employed with the Company in any capacity. 


 The amounts payable pursuant to this
policy shall be paid or commence to be paid within 60 days following the date of termination of employment, provided that if the 60-day period begins in one calendar year and ends in a second calendar year,
such payments shall be paid or commence to be paid in the second calendar year by the last day of such 60-day period. 

In addition, upon the consummation of a Sale Event, to the extent Section 280G of the Internal Revenue Code is applicable to such employee, each employee
shall be entitled to receive either: (a) payment of the full amounts set forth above to which the employee is entitled or (b) payment of such lesser amount that does not trigger excise taxes under Section 280G, whichever results in
the employee receiving a higher amount after taking into account all federal, state, and local income, excise and employment taxes. 
 For purposes of this
policy, “Good Reason” shall mean that the employee followed the “Good Reason Process” following the occurrence of (a) a material diminution in the employee’s job responsibilities (provided that a change in the
employee’s job title or reporting relationship shall not be deemed a material diminution in the employee’s job responsibilities), (b) a material diminution in the employee’s base salary or (c) the relocation of
the employee’s principal place of business to a location that is more than twenty-five (25) miles from the employee’s then-current location of employment. “Good Reason Process” shall mean that (i) the
employee reasonably determines in good faith that a “Good Reason” condition has occurred; (ii) the employee notifies the Company (or its successor) in writing of the first occurrence of the Good Reason condition within 60 days
of the first occurrence of such condition; (iii) the employee cooperates in good faith with the Company’s (or its successor’s) efforts, for a period not less than 30 days following such notice (the “Cure Period”), to
remedy the condition; (iv) notwithstanding such efforts, the Good Reason condition continues to exist; and (v) the employee terminates his employment within 60 days after the end of the Cure Period. If the Company or its
successor cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred. 

  
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 This policy shall be administered by the Company, and the Company shall have the power and authority to
interpret the terms and provisions of this policy, to make all determinations it deems advisable for the administration of this policy, to decide all disputes arising in connection with this policy and to otherwise supervise administration of this
policy. The Company retains the right to amend, revise, change or end this policy at any point in the future; provided that this Policy may not be amended or terminated during the period commencing on the date that it enters into a definitive
agreement that if consummated, would result in a Sale Event and ending on the earlier of (i) 12 months after a Sale Event and (ii) the termination of the definitive agreement without the consummation of a Sale Event. This policy does not change
the “at-will” employment status of any employee. 
 In the event an employee of the Company is party to an agreement or other arrangement with the
Company that provides greater benefits than set forth in this policy, such employee shall be entitled to receive the payments or benefits under such other agreement or arrangement and shall not be eligible to receive any payments or benefits under
this policy. 
 The payments under this policy are intended either to be exempt from Section 409A of the Internal Revenue Code of 1986, as amended
(“Section 409A”) under the short-term deferral, separation pay, or other applicable exception, or to otherwise comply with Section 409A. This policy shall be administered in a manner consistent with such intent. For
purposes of Section 409A, all payments under this policy shall be considered separate payments. To the extent that any payment or benefit described in this policy constitutes “non-qualified
deferred compensation” under Section 409A, and to the extent that such payment or benefit is payable upon an employee’s termination of employment, then such payments or benefits shall be payable only upon such employee’s
“separation from service” (determined in accordance with the presumptions set forth in Treasury Regulation Section 1.409A 1(h)). Notwithstanding any provision to the contrary, to the extent an employee is considered a specified
employee under Section 409A and would be entitled during the six-month period beginning on such employee’s separation from service to a payment that is not otherwise excluded under Section 409A,
such payment will not be made until the earlier of (i) the date six months and one day after the employee’s separation from service or (ii) the employee’s death. This policy may be amended as may be necessary to fully comply
with Section 409A and all related rules and regulations in order to preserve the payments and benefits provided hereunder. The Company makes no representation or warranty and shall have no liability to any employee or any other person if
any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A but do not satisfy an exemption from, or the conditions of, such Section. 

  
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