Amended and Restated 2006 Employment Commencement Incentive Plan



 Exhibit 10.32 
 AMENDED AND RESTATED 
 RENOVIS, INC. 
 2006 EMPLOYMENT COMMENCEMENT INCENTIVE PLAN 
 ADOPTED
BY THE BOARD OF DIRECTORS JANUARY 3, 2007 
 ARTICLE 1 
 PURPOSE 
 1.1 GENERAL. 
 (a) ELIGIBLE STOCK AWARD RECIPIENTS. Only Eligible Participants may receive
Awards under the Plan. 
 (b) GENERAL PURPOSE. The purpose of the Plan is to promote the success and enhance the value of Renovis, Inc. (the
“Company”) by linking the personal interests of Eligible Participants to those of Company stockholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to Company
stockholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of Eligible Participants upon whose judgment, interest, and special effort the successful conduct of the
Company’s operation will be largely dependent. 
 ARTICLE 2 
 DEFINITIONS AND CONSTRUCTION 
 2.1 DEFINITIONS. The following
words and phrases shall have the following meanings: 
 (a) “Award” means an Option, a Restricted Stock award, a Stock
Appreciation Right award, a Performance Share award, a Dividend Equivalents award, a Stock Payment award, or a Deferred Stock award granted to an Eligible Participant pursuant to the Plan. 
 (b) “Award Agreement” means any written agreement, contract, or other instrument or document evidencing an Award. 
 (c) “Board” means the Board of Directors of the Company. 
 (d) “Change of Control” means and includes each of the following: 
 (1) the acquisition,
directly or indirectly, by any “person” or “group” (as those terms are defined in Sections 3(a)(9), 13(d) and 14(d) of the Exchange Act and the rules thereunder) of “beneficial ownership” (as determined pursuant to
Rule 13d-3 under the Exchange Act) of securities entitled to vote generally in the election of directors (“voting securities”) of the Company that represent 50% or more of the combined voting power of the Company’s then
outstanding voting securities, other than 
 (A) an acquisition by a trustee or other fiduciary holding securities 








 
under any employee benefit plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company or by any employee benefit
plan (or related trust) sponsored or maintained by the Company or any person controlled by the Company, or 
 (B) an acquisition of voting
securities by the Company or a corporation owned, directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the stock of the Company, or 
 (C) an acquisition of voting securities pursuant to a transaction described in clause (3) below that would not be a Change of Control under
clause (3). 
 Notwithstanding the foregoing, the following event shall not constitute an “acquisition” by any person or
group for purposes of this subsection (d): an acquisition of the Company’s securities by the Company which causes the Company’s voting securities beneficially owned by a person or group to represent 50% or more of the combined voting power
of the Company’s then outstanding voting securities; provided, however, that if a person or group shall become the beneficial owner of 50% or more of the combined voting power of the Company’s then outstanding voting securities by
reason of share acquisitions by the Company as described above and shall, after such share acquisitions by the Company, become the beneficial owner of any additional voting securities of the Company, then such acquisition shall constitute a Change
of Control; or 
 (2) during any period of two consecutive years, individuals who, at the beginning of such period, constitute the Board
together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in clauses (1) or (3) of this subsection (d)) whose election by the
Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two year period or whose election or nomination
for election was previously so approved, cease for any reason to constitute a majority thereof; or 
 (3) the consummation by the Company
(whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or
substantially all of the Company’s assets or (z) the acquisition of assets or stock of another entity, in each case other than a transaction 
 (A) which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the
Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company
(the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and

 (B) after which no person or group beneficially owns voting 

  

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securities representing 50% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated
for purposes of this clause (B) as beneficially owning 50% or more of combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction; or 
 (4) the Company’s stockholders approve a liquidation or dissolution of the Company. 
 The Committee shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a Change of Control of
the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change of Control and any incidental matters relating thereto. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. 
 (f)
“Committee” means the Board or the Compensation Committee of the Board as further described in Article 11. 
 (g)
“Deferred Stock” means a right to receive a specified number of shares of Stock during specified time periods pursuant to Article 8. 
 (h) “Director” means a member of the Board. 
 (i) “Disability” means, for
purposes of the Plan, that the Participant qualifies to receive long-term disability payments under the Company’s long-term disability insurance program, as it may be amended from time to time. 
 (j) “Dividend Equivalents” means a right granted to a Participant pursuant to Article 8 to receive the equivalent value (in cash or
Stock) of dividends paid on Stock. 
 (k) “Eligible Participant” means any Employee who has not previously been an Employee
or Director of the Company or a Subsidiary, or is commencing employment with the Company or a Subsidiary following a bona fide period of non-employment by the Company or a Subsidiary, if he or she is granted an Award in connection with his or her
commencement of employment with the Company or a Subsidiary and such grant is an inducement material to his or her entering into employment with the Company or a Subsidiary. The Board may in its discretion adopt procedures from time to time to
ensure that an Employee is eligible to participate in the Plan prior to the granting of any Awards to such Employee under the Plan (including, without limitation, a requirement, that each such Employee certify to the Company prior to the receipt of
an Award under the Plan that he or she has not been previously employed by the Company or a Subsidiary, or if previously employed, has had a bona fide period of non-employment, and that the grant of Awards under the Plan is an inducement material to
his or her agreement to enter into employment with the Company or a Subsidiary). 
 (l) “Employee” means any officer or
other employee (as defined in accordance with Section 3401(c) of the Code) of the Company or any Subsidiary. 
 (m) “Equity
Restructuring” means a non-reciprocal transaction between the 

  

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Company and its stockholders, such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash
dividend, that affects the shares of Stock (or other securities of the Company) or the share price of Stock (or other securities) and causes a change in the per share value of the Stock underlying outstanding Awards. 
 (n) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 (o) “Fair Market Value” means, as of any date, the value of Stock determined as follows: 
 (1) If the Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market or The
Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market trading day prior to
the date of determination, as reported in The Wall Street Journal or such other source as the Committee deems reliable; 
 (2) If the
Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall be the mean of the closing bid and asked prices for the Stock on the date prior to the date of determination as reported in
The Wall Street Journal or such other source as the Committee deems reliable; or 
 (3) In the absence of an established market for
the Stock, the Fair Market Value thereof shall be determined in good faith by the Committee. 
 (p) “Incentive Stock Option”
means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto. Incentive Stock Options may not be granted under the Plan. 
 (q) “Independent Director” means a Director who is not an Employee of the Company and who qualifies as “independent” within
the meaning of NASD Rule 4200(a)(14), if the Company’s securities are traded on the Nasdaq National Market, or the requirements of any other established stock exchange on which the Company’s securities are traded, as such rules or
requirements may be amended from time to time. 
 (r) “NASD” means the National Association of Securities Dealers, Inc.

 (s) “Non-Qualified Stock Option” means an Option that is not intended to be an Incentive Stock Option. 
 (t) “Option” means a right granted to a Participant pursuant to Article 5 of the Plan to purchase a specified number of shares of Stock
at a specified price during specified time periods. An Option must be a Non-Qualified Stock Option. 
 (u) “Participant”
means an Eligible Participant who has been granted an Award pursuant to the Plan. 
 (v) “Performance Share” means a right
granted to a Participant pursuant to Article 8, to receive cash, Stock, or other Awards, the payment of which is contingent upon achieving certain performance goals established by the Committee. 
  

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 (w) “Plan” means this Renovis, Inc. 2006 Employment Commencement Incentive Plan, as it
may be amended from time to time. 
 (x) “Restricted Stock” means Stock awarded to a Participant pursuant to Article 6 that
is subject to certain restrictions and to risk of forfeiture. 
 (y) “Stock” means the common stock of the Company and such
other securities of the Company that may be substituted for Stock pursuant to Article 10. 
 (z) “Stock Appreciation Right”
or “SAR” means a right granted pursuant to Article 7 to receive a payment equal to the excess of the Fair Market Value of a specified number of shares of Stock on the date the SAR is exercised over the Fair Market Value on the date
the SAR was granted as set forth in the applicable Award Agreement. 
 (aa) “Stock Payment” means (a) a payment in the
form of shares of Stock, or (b) an option or other right to purchase shares of Stock, as part of any bonus, deferred compensation or other arrangement, made in lieu of all or any portion of the compensation, granted pursuant to Article 8.

 (bb) “Subsidiary” means any corporation or other entity of which a majority of the outstanding voting stock or voting
power is beneficially owned directly or indirectly by the Company. 
 ARTICLE 3 
 SHARES SUBJECT TO THE PLAN 
 3.1 NUMBER OF SHARES. 
 (a) Subject to Article 10, the aggregate number of shares of Stock which may be issued or transferred pursuant to Awards under the Plan shall be 250,000
shares. 
 The payment of Dividend Equivalents in conjunction with any outstanding Awards shall not be counted against the shares available
for issuance under the Plan. 
 (b) To the extent that an Award terminates, expires, or lapses for any reason, any shares of Stock subject to
the Award shall again be available for the grant of an Award pursuant to the Plan. Additionally, any shares of Stock tendered or withheld to satisfy the grant or exercise price or tax withholding obligation pursuant to any Award shall again be
available for the grant of an Award pursuant to the Plan. To the extent permitted by applicable law or any exchange rule, shares of Stock issued in assumption of, or in substitution for, any outstanding awards of any entity acquired in any form of
combination by the Company or any Subsidiary shall not be counted against shares of Stock available for grant pursuant to the Plan. 
 3.2
STOCK DISTRIBUTED. Any Stock distributed pursuant to an Award may consist, in whole or in part, of authorized and unissued Stock, treasury Stock or Stock purchased on the open market. 
  

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 ARTICLE 4 
 ELIGIBILITY AND PARTICIPATION 
 4.1 ELIGIBILITY. 
 (a) GENERAL. Awards may be granted only to Eligible Participants. All Options granted under the Plan shall be Non-Qualified Stock Options. 
 (b) FOREIGN PARTICIPANTS. In order to assure the viability of Awards granted to Participants employed in foreign countries, the Committee may provide for
such special terms as it may consider necessary or appropriate to accommodate differences in local law, tax policy, or custom. Moreover, the Committee may approve such supplements to, or amendments, restatements, or alternative versions of, the Plan
as it may consider necessary or appropriate for such purposes without thereby affecting the terms of the Plan as in effect for any other purpose; provided, however, that no such supplements, amendments, restatements, or alternative versions
shall increase the share limitations contained in Section 3.1 of the Plan. 
 4.2 ACTUAL PARTICIPATION. Subject to the
provisions of the Plan, the Committee may, from time to time, select from among all eligible individuals, those to whom Awards shall be granted and shall determine the nature and amount of each Award. No individual shall have any right to be granted
an Award pursuant to the Plan. 
 ARTICLE 5 
 STOCK OPTIONS 
 5.1 GENERAL. Options may be granted to Eligible Participants on the
following terms and conditions: 
 (a) EXERCISE PRICE. The exercise price per share of Stock subject to an Option shall be determined by the
Committee and set forth in the Award Agreement; provided, that the exercise price for any Option shall not be less than Fair Market Value of a share of Stock on the date of grant. 
 (b) TIME AND CONDITIONS OF EXERCISE. The Committee shall determine the time or times at which an Option may be exercised in whole or in part;
provided, that the term of any Option granted under the Plan shall not exceed ten years; and provided, further, that such Option shall be exercisable for not less than one year after the date of the Participant’s death. The
Committee shall also determine the performance or other conditions, if any, that must be satisfied before all or part of an Option may be exercised. 
 (c) PAYMENT. The Committee shall determine the methods by which the exercise price of an Option may be paid, the form of payment, including, without limitation, cash, promissory note bearing interest at no less than
such rate as shall then preclude the imputation of interest under the Code, shares of Stock held for longer than six months having a Fair Market Value on the date of delivery equal to the aggregate exercise price of the Option or exercised portion
thereof, or other property acceptable to the Committee (including through the 

  

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delivery of a notice that the Participant has placed a market sell order with a broker with respect to shares of Stock then issuable upon exercise of the
Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the Option exercise price; provided, that payment of such proceeds is then made to the Company upon
settlement of such sale), and the methods by which shares of Stock shall be delivered or deemed to be delivered to Participants. Notwithstanding any other provision of the Plan to the contrary, no Participant who is a member of the Board or an
“executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to pay the exercise price of an Option in any method which would violate Section 13(k). 
 (d) EVIDENCE OF GRANT. All Options shall be evidenced by a written Award Agreement between the Company and the Participant. The Award Agreement shall
include such additional provisions as may be specified by the Committee. 
 ARTICLE 6 
 RESTRICTED STOCK AWARDS 
 6.1
GRANT OF RESTRICTED STOCK. Restricted Stock may be awarded to any Eligible Participant in such amounts and subject to such terms and conditions as determined by the Committee. All Awards of Restricted Stock shall be evidenced by a
written Restricted Stock Award Agreement. 
 6.2 ISSUANCE AND RESTRICTIONS. Restricted Stock shall be subject to such
restrictions on transferability and other restrictions as the Committee may impose (including, without limitation, limitations on the right to vote Restricted Stock or the right to receive dividends on the Restricted Stock). These restrictions may
lapse separately or in combination at such times, pursuant to such circumstances, in such installments, or otherwise, as the Committee determines at the time of the grant of the Award or thereafter. 
 6.3 FORFEITURE. Except as otherwise determined by the Committee at the time of the grant of the Award or thereafter, upon termination of
employment or service during the applicable restriction period, Restricted Stock that is at that time subject to restrictions shall be forfeited; provided, however, that the Committee may provide in any Restricted Stock Award Agreement that
restrictions or forfeiture conditions relating to Restricted Stock will be waived in whole or in part in the event of terminations resulting from specified causes, and the Committee may in other cases waive in whole or in part restrictions or
forfeiture conditions relating to Restricted Stock. 
 6.4 CERTIFICATES FOR RESTRICTED STOCK. Restricted Stock granted pursuant
to the Plan may be evidenced in such manner as the Committee shall determine. If certificates representing shares of Restricted Stock are registered in the name of the Participant, certificates must bear an appropriate legend referring to the terms,
conditions, and restrictions applicable to such Restricted Stock, and the Company may, at its discretion, retain physical possession of the certificate until such time as all applicable restrictions lapse. 
  

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 ARTICLE 7 
 STOCK APPRECIATION RIGHTS 
 7.1 GRANT OF STOCK APPRECIATION RIGHTS. A Stock
Appreciation Right may be granted to any Eligible Participant selected by the Committee. A Stock Appreciation Right may be granted (a) in connection and simultaneously with the grant of an Option, (b) with respect to a previously granted
Option, or (c) independent of an Option. A Stock Appreciation Right shall be subject to such terms and conditions not inconsistent with the Plan as the Committee shall impose and shall be evidenced by an Award Agreement. 
 7.2 COUPLED STOCK APPRECIATION RIGHTS. 
 (a) A Coupled Stock Appreciation Right (“CSAR”) shall be related to a particular Option and shall be exercisable only when and to the extent the related Option is exercisable. 
 (b) A CSAR may be granted to a Participant for no more than the number of shares subject to the simultaneously or previously granted Option to which it
is coupled. 
 (c) A CSAR shall entitle the Participant (or other person entitled to exercise the Option pursuant to the Plan) to surrender
to the Company unexercised a portion of the Option to which the CSAR relates (to the extent then exercisable pursuant to its terms) and to receive from the Company in exchange therefor an amount determined by multiplying the difference obtained by
subtracting the Option exercise price from the Fair Market Value of a share of Stock on the date of exercise of the CSAR by the number of shares of Stock with respect to which the CSAR shall have been exercised, subject to any limitations the
Committee may impose. 
 7.3 INDEPENDENT STOCK APPRECIATION RIGHTS. 
 (a) An Independent Stock Appreciation Right (“ISAR”) shall be unrelated to any Option and shall have a term set by the Committee. An ISAR
shall be exercisable in such installments as the Committee may determine. An ISAR shall cover such number of shares of Stock as the Committee may determine. The exercise price per share of Stock subject to each ISAR shall be set by the Committee;
provided, however, that the Committee in its sole and absolute discretion may provide that the ISAR may be exercised subsequent to a termination of employment or service, as applicable, or following a Change of Control, or because of the
Participant’s retirement, death or Disability, or otherwise. 
 (b) An ISAR shall entitle the Participant (or other person entitled to
exercise the ISAR pursuant to the Plan) to exercise all or a specified portion of the ISAR (to the extent then exercisable pursuant to its terms) and to receive from the Company an amount determined by multiplying the difference obtained by
subtracting the exercise price per share of the ISAR from the Fair Market Value of a share of Stock on the date of exercise of the ISAR by the number of shares of Stock with respect to which the ISAR shall have been exercised, subject to any
limitations the Committee may impose. 
  

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 7.4 PAYMENT AND LIMITATIONS ON EXERCISE. 
 (a) Payment of the amounts determined under Section 7.2(c) and 7.3(b) above shall be in cash, in Stock (based on its Fair Market Value as of the date
the Stock Appreciation Right is exercised) or a combination of both, as determined by the Committee. 
 (b) To the extent any payment under
Section 7.2(c) or 7.3(b) is effected in Stock it shall be made subject to satisfaction of all provisions of Article 5 above pertaining to Options. 
 ARTICLE 8 
 OTHER TYPES OF AWARDS 
 8.1 PERFORMANCE SHARE AWARDS. Any Eligible Participant selected by the Committee may be granted one or more Performance Share awards which
may be denominated in a number of shares of Stock or in a dollar value of shares of Stock and which may be linked to any one or more specific performance criteria determined appropriate by the Committee, in each case on a specified date or dates or
over any period or periods determined by the Committee. In making such determinations, the Committee shall consider (among such other factors as it deems relevant in light of the specific type of award) the contributions, responsibilities and other
compensation of the particular Participant. 
 8.2 DIVIDEND EQUIVALENTS. Any Eligible Participant selected by the Committee may
be granted Dividend Equivalents based on the dividends declared on the shares of Stock that are subject to any Award, to be credited as of dividend payment dates, during the period between the date the Award is granted and the date the Award is
exercised, vests or expires, as determined by the Committee. Such Dividend Equivalents shall be converted to cash or additional shares of Stock by such formula and at such time and subject to such limitations as may be determined by the Committee.

 8.3 STOCK PAYMENTS. Any Eligible Participant selected by the Committee may receive Stock Payments in the manner determined
from time to time by the Committee. The number of shares shall be determined by the Committee and may be based upon specific performance criteria determined appropriate by the Committee, determined on the date such Stock Payment is made or on any
date thereafter. 
 8.4 DEFERRED STOCK. Any Eligible Participant selected by the Committee may be granted an award of Deferred
Stock in the manner determined from time to time by the Committee. The number of shares of Deferred Stock shall be determined by the Committee and may be linked to specific performance criteria determined to be appropriate by the Committee, in each
case on a specified date or dates or over any period or periods determined by the Committee. Stock underlying a Deferred Stock award will not be issued until the Deferred Stock award has vested, pursuant to a vesting schedule or performance criteria
set by the Committee. Unless otherwise provided by the Committee, a Participant awarded Deferred Stock shall have no rights as a Company stockholder with respect to such Deferred Stock until such time as the Deferred Stock award has vested and the
Stock underlying the Deferred Stock award has been issued. 
  

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 8.5 TERM. The term of any Award of Performance Shares, Dividend Equivalents, Stock Payments
or Deferred Stock shall be set by the Committee in its discretion. 
 8.6 EXERCISE OR PURCHASE PRICE. The Committee may
establish the exercise or purchase price of any Award of Performance Shares, Deferred Stock or Stock Payments; provided, however, that such price shall not be less than the par value of a share of Stock, unless otherwise permitted by
applicable state law. 
 8.7 EXERCISE UPON TERMINATION OF EMPLOYMENT OR SERVICE. An Award of Performance Shares, Dividend
Equivalents, Deferred Stock and Stock Payments shall only be exercisable or payable while the Participant is an Employee of the Company; provided, however, that the Committee in its sole and absolute discretion may provide that an Award of
Performance Shares, Dividend Equivalents, Stock Payments or Deferred Stock may be exercised or paid subsequent to a termination of employment or service, as applicable, or following a Change of Control, or because of the Participant’s
retirement, death or Disability, or otherwise. 
 8.8 FORM OF PAYMENT. Payments with respect to any Awards granted under this
Article 8 shall be made in cash, in Stock or a combination of both, as determined by the Committee. 
 8.9 AWARD AGREEMENT. All
Awards under this Article 8 shall be subject to such additional terms and conditions as determined by the Committee and shall be evidenced by a written Award Agreement. 
 ARTICLE 9 
 PROVISIONS APPLICABLE TO AWARDS 
 9.1 STAND-ALONE AND TANDEM AWARDS. Awards granted pursuant to the Plan may, in the discretion of the Committee, be granted either alone, in
addition to, or in tandem with, any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem with other Awards may be granted either at the same time as or at a different time from the grant of such other Awards.

 9.2 AWARD AGREEMENT. Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and
limitations for each Award which may include the term of an Award, the provisions applicable in the event the Participant’s employment or service terminates, and the Company’s authority to unilaterally or bilaterally amend, modify,
suspend, cancel or rescind an Award. 
 9.3 LIMITS ON TRANSFER. No right or interest of a Participant in any Award may be
pledged, encumbered, or hypothecated to or in favor of any party other than the Company or a Subsidiary, or shall be subject to any lien, obligation, or liability of such Participant to any other party other than the Company or a Subsidiary. No
Award shall be assigned, transferred, or otherwise disposed of by a Participant other than by will or the laws of descent and distribution. 
  

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 9.4 BENEFICIARIES. Notwithstanding Section 9.3, a Participant may, in the manner
determined by the Committee, designate a beneficiary to exercise the rights of the Participant and to receive any distribution with respect to any Award upon the Participant’s death. A beneficiary, legal guardian, legal representative, or other
person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Award Agreement applicable to the Participant, except to the extent the Plan and Award Agreement otherwise provide, and to any additional
restrictions deemed necessary or appropriate by the Committee. If the Participant is married and resides in a community property state, a designation of a person other than the Participant’s spouse as his beneficiary with respect to more than
50% of the Participant’s interest in the Award shall not be effective without the prior written consent of the Participant’s spouse. If no beneficiary has been designated or survives the Participant, payment shall be made to the person
entitled thereto pursuant to the Participant’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Participant at any time provided the change or revocation is filed
with the Committee. 
 9.5 STOCK CERTIFICATES. Notwithstanding anything herein to the contrary, the Company shall not be
required to issue or deliver any certificates evidencing shares of Stock pursuant to the exercise of any Award, unless and until the Board has determined, with advice of counsel, that the issuance and delivery of such certificates is in compliance
with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any exchange on which the shares of Stock are listed or traded. All Stock certificates delivered pursuant to the Plan are subject to any
stop-transfer orders and other restrictions as the Committee deems necessary or advisable to comply with federal, state, or foreign jurisdiction, securities or other laws, rules and regulations and the rules of any national securities exchange or
automated quotation system on which the Stock is listed, quoted, or traded. The Committee may place legends on any Stock certificate to reference restrictions applicable to the Stock. In addition to the terms and conditions provided herein, the
Board may require that a Participant make such reasonable covenants, agreements, and representations as the Board, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. The Committee shall have the
right to require any Participant to comply with any timing or other restrictions with respect to the settlement or exercise of any Award, including a window-period limitation, as may be imposed in the discretion of the Committee. 
 ARTICLE 10 
 CHANGES IN CAPITAL
STRUCTURE 
 10.1 ADJUSTMENTS. 
 (a) EQUITY RESTRUCTURING. In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to the contrary in Section 10.1(b): 
 (1) The number and type of securities subject to each outstanding Award and the exercise price or grant price per share thereof, as well as any other
applicable terms and conditions of each outstanding Award (including, without limitation, any performance targets or criteria with respect thereto), will be proportionately adjusted. The adjustments provided under this Section 10.1(a)(1) shall
be nondiscretionary and shall be final and binding on the affected Participant and the Company. 
  

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 (2) The Committee shall make such proportionate adjustments, if any, as the Committee in its discretion
may deem appropriate to reflect such Equity Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitation in Section 3.1). 
 (b) OTHER CHANGES IN CAPITAL STRUCTURE. In the event that the Committee determines that other than an Equity Restructuring, any dividend or other
distribution (whether in the form of cash, Stock, other securities or other property), reorganization, merger, consolidation, combination, repurchase, liquidation, dissolution, or sale transfer, exchange or other disposition of all or substantially
all of the assets of the Company, or exchange of Stock or other securities of the Company, issuance or warrants or other rights to purchase Stock or other securities of the Company or other similar corporate transaction or event, in the
Committee’s sole discretion, affects the Stock such that an adjustment is determined by the Committee to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the
Plan or with respect to an Award, then the Committee shall, in such manner as it may deem equitable, adjust any or all of: 
 (1) The number
and kind of shares of Stock (or other securities or property) with respect to which Awards may be granted or awarded (including, but not limited to, adjustments of the limitation in Section 3.1 on the maximum number and kind of shares which may
be issued); 
 (2) The number and kind of shares of Stock (or other securities or property) subject to outstanding Awards; and 

(3) The grant or exercise price per share with respect to any outstanding Award, as well as any other applicable terms and conditions of each
outstanding Award (including, without limitation, any performance targets or criteria with respect thereto). In the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation, spin-off, recapitalization or
other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of Stock or the share price of the Stock, the Committee shall make such proportionate adjustments, if any, as the
Committee in its discretion may deem appropriate to reflect such change with respect to (i) the aggregate number and type of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1);
(ii) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (iii) the grant or exercise price per share for any outstanding Awards under the Plan.

 10.2 ACCELERATION UPON A CHANGE OF CONTROL. If a Change of Control occurs and a Participant’s Awards are not converted,
assumed, or replaced by a successor, such Awards shall become fully exercisable and all forfeiture restrictions on such Awards shall lapse. Upon, or in anticipation of, a Change of Control, the Committee may cause any and all Awards outstanding
hereunder to terminate at a specific time in the future and shall 

  

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give each Participant the right to exercise such Awards during a period of time as the Committee, in its sole and absolute discretion, shall determine. In
the event that the terms of any agreement between the Company or any Subsidiary or affiliate and a Participant contains provisions that conflict with and are more restrictive than the provisions of this Section 10.2, this Section 10.2
shall prevail and control and the more restrictive terms of such agreement (and only such terms) shall be of no force or effect. 
 10.3
OUTSTANDING AWARDS – CERTAIN MERGERS. Subject to any required action by the stockholders of the Company, in the event that the Company shall be the surviving corporation in any merger or consolidation (except a merger or
consolidation as a result of which the holders of shares of Stock receive securities of another corporation), each Award outstanding on the date of such merger or consolidation shall pertain to and apply to the securities that a holder of the number
of shares of Stock subject to such Award would have received in such merger or consolidation. 
 10.4 OUTSTANDING AWARDS – OTHER
CHANGES. In the event of any other change in the capitalization of the Company or corporate change other than those specifically referred to in this Article 10, the Committee may, in its absolute discretion, make such adjustments in the
number and class of shares subject to Awards outstanding on the date on which such change occurs and in the per share grant or exercise price of each Award as the Committee may consider appropriate to prevent dilution or enlargement of rights.

 10.5 NO OTHER RIGHTS. Except as expressly provided in the Plan, no Participant shall have any rights by reason of any
subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger, or consolidation of the Company or any other
corporation. Except as expressly provided in the Plan or pursuant to action of the Committee under the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and
no adjustment by reason thereof shall be made with respect to, the number of shares of Stock subject to an Award or the grant or exercise price of any Award. 
 ARTICLE 11 
 ADMINISTRATION 
 11.1 COMMITTEE. Unless and until the Board delegates administration to the Committee as set forth below, the Plan shall be administered by
the Board, which shall, in such event, constitute the “Committee” for the purposes of the Plan. Any action taken by the Board in connection with the administration of the Plan shall not be deemed approved by the Board unless such actions
are approved by a majority of the Independent Directors. The Board may delegate administration of the Plan to the Committee, and the term “Committee” shall apply to any person or persons to whom such authority has been delegated;
provided, however, that such Committee be comprised of a majority of or solely two or more Independent Directors. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the
powers theretofore possessed by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in the Plan to the Board shall thereafter be to the Committee or
subcommittee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. 
  

 13 








 The Board may abolish the Committee at any time and revest in the Board the administration of the Plan.
Any action taken by the Board in connection with the administration of the Plan shall continue to not be deemed approved by the Board unless such actions are approved by a majority of the Independent Directors. Appointment of Committee members shall
be effective upon acceptance of appointment. Committee members may resign at any time by delivering written notice to the Board. Vacancies in the Committee may only be filled by the Board. 
 11.2 ACTION BY THE COMMITTEE. A majority of the Committee shall constitute a quorum. The acts of a majority of the members present at any
meeting at which a quorum is present, and acts approved in writing by a majority of the Committee in lieu of a meeting, shall be deemed the acts of the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any
report or other information furnished to that member by any officer or other employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any executive compensation consultant or other professional
retained by the Company to assist in the administration of the Plan. 
 11.3 AUTHORITY OF COMMITTEE. Subject to any specific
designation in the Plan, the Committee has the exclusive power, authority and discretion to: 
 (a) Adopt procedures from time to time in the
Committee’s discretion to ensure that an Employee is eligible to participate in the Plan prior to the granting of any Awards to such Employee under the Plan (including, without limitation, a requirement, if any, that each such Employee certify
to the Company prior to the receipt of an Award under the Plan that he or she has not been previously employed by the Company or a Subsidiary, or if previously employed, has had a bona fide period of non-employment, and that the grant of Awards
under the Plan is an inducement material to his or her agreement to enter into employment with the Company or a Subsidiary); 
 (b) Designate
Participants to receive Awards; 
 (c) Determine the type or types of Awards to be granted to each Participant; 
 (d) Determine the number of Awards to be granted and the number of shares of Stock to which an Award will relate; 
 (e) Determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant price, or
purchase price, any reload provision, any restrictions or limitations on the Award, any schedule for lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, any provisions related to
non-competition and recapture of gain on an Award, based in each case on such considerations as the Committee in its sole discretion determines; 
 (f) Determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may be paid in cash, Stock, other Awards, or other property, or an Award may be canceled, forfeited, or
surrendered; 
  

 14 








 (g) Prescribe the form of each Award Agreement, which need not be identical for each Participant;

 (h) Decide all other matters that must be determined in connection with an Award; 
 (i) Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan; 
 (j) Interpret the terms of, and any matter arising pursuant to, the Plan or any Award Agreement; and 
 (k) Make all other decisions and determinations that may be required pursuant to the Plan or as the Committee deems necessary or advisable to administer
the Plan. 
 12.4 DECISIONS BINDING. The Committee’s interpretation of the Plan, any Awards granted pursuant to the Plan,
any Award Agreement and all decisions and determinations by the Committee with respect to the Plan are final, binding, and conclusive on all parties. 
 ARTICLE 12 
 EFFECTIVE AND EXPIRATION DATE 
 12.1 EFFECTIVE DATE. The Plan is effective as of the date of its adoption by the Board (the “Effective Date”). 

12.2 EXPIRATION DATE. The Plan will expire on, and no Award may be granted pursuant to the Plan after December 31, 2006 (the
“Expiration Date”). Any Awards that are outstanding on the Expiration Date shall remain in force according to the terms of the Plan and the applicable Award Agreement. Each Award Agreement shall provide that it will expire on the
tenth anniversary of the date of grant of the Award to which it relates. 
 ARTICLE 13 
 AMENDMENT, MODIFICATION, AND TERMINATION 
 13.1 AMENDMENT, MODIFICATION, AND TERMINATION. With the approval of the Board, at any time and from time to time, the Committee may terminate, amend or modify the Plan; provided, however, that to the extent necessary
and desirable to comply with any applicable law, regulation, or stock exchange rule, the Company shall obtain stockholder approval of any Plan amendment in such a manner and to such a degree as required. 
 13.2 AWARDS PREVIOUSLY GRANTED. No termination, amendment, or modification of the Plan shall adversely affect in any material way any Award
previously granted pursuant to the Plan without the prior written consent of the Participant. 
  

 15 








 ARTICLE 14 
 GENERAL PROVISIONS 
 14.1 NO RIGHTS TO AWARDS. No Participant, employee, or other
person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, employees, and other persons uniformly. 
 14.2 NO STOCKHOLDERS RIGHTS. No Award gives the Participant any of the rights of a stockholder of the Company unless and until shares of
Stock are in fact issued to such person in connection with such Award. 
 14.3 WITHHOLDING. The Company or any Subsidiary shall
have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Participant’s FICA obligation) required by law to
be withheld with respect to any taxable event concerning a Participant arising as a result of the Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold
shares of Stock otherwise issuable under an Award (or allow the return of shares of Stock) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of shares of Stock which may
be withheld with respect to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award within six months after such shares of Stock were acquired by the Participant from the Company) in
order to satisfy the Participant’s federal, state, local and foreign income and payroll tax liabilities with respect to the issuance, vesting, exercise or payment of the Award shall be limited to the number of shares which have a Fair Market
Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such
supplemental taxable income. 
 14.4 NO RIGHT TO EMPLOYMENT OR SERVICES. Nothing in the Plan or any Award Agreement shall
interfere with or limit in any way the right of the Company or any Subsidiary to terminate any Participant’s employment at any time, nor confer upon any Participant any right to continue in the employ of the Company or any Subsidiary.

 14.5 UNFUNDED STATUS OF AWARDS. The Plan is intended to be an “unfunded” plan for incentive compensation. With
respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award Agreement shall give the Participant any rights that are greater than those of a general creditor of the Company or any
Subsidiary. 
 14.6 INDEMNIFICATION. To the extent allowable pursuant to applicable law, each member of the Committee or of the
Board shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by such member in connection with or resulting from any claim, action, suit, or proceeding to
which he or she may be a party or in which he or she may be involved by reason of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or
proceeding against him or her; provided, he or she gives the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of
indemnification shall not be exclusive of any other rights of indemnification to 

  

 16 








 
which such persons may be entitled pursuant to the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that
the Company may have to indemnify them or hold them harmless. 
 14.7 RELATIONSHIP TO OTHER BENEFITS. No payment pursuant to
the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly
provided in writing in such other plan or an agreement thereunder. 
 14.8 EXPENSES. The expenses of administering the Plan
shall be borne by the Company and its Subsidiaries. 
 14.9 TITLES AND HEADINGS. The titles and headings of the Articles and
Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. 
 14.10 FRACTIONAL SHARES. No fractional shares of Stock shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional shares or whether such
fractional shares shall be eliminated by rounding up or down as appropriate. 
 14.11 LIMITATIONS APPLICABLE TO SECTION 16
PERSONS. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any Participant who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in
any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan
and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 
 14.12 GOVERNMENT AND OTHER REGULATIONS. The obligation of the Company to make payment of awards in Stock or otherwise shall be subject to all applicable laws, rules, and regulations, and to such approvals by government
agencies as may be required. The Company shall be under no obligation to register pursuant to the Securities Act of 1933, as amended, any of the shares of Stock paid pursuant to the Plan. If the shares paid pursuant to the Plan may in certain
circumstances be exempt from registration pursuant to the Securities Act of 1933, as amended, the Company may restrict the transfer of such shares in such manner as it deems advisable to ensure the availability of any such exemption. 
 14.13 GOVERNING LAW. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of the State of
Delaware. 
 14.14 SECTION 409A OF THE CODE. In the event any provision of the Plan, or the application thereof, is or becomes
inconsistent with Section 409A of the Code and any regulations promulgated thereunder, such provision shall be void or unenforceable or in the sole discretion of the Committee shall be deemed amended to comply with Section 409A and any regulations
promulgated thereunder. The other provisions of the Plan shall remain in full force and effect. 
  

 17 








 ARTICLE 15 
 GENERAL PROVISIONS 
 15.1 STOCKHOLDER APPROVAL NOT REQUIRED. It is expressly intended
that approval of the Company’s stockholders not be required as a condition of the effectiveness of the Plan, and the Plan’s provisions shall be interpreted in a manner consistent with such intent for all purposes. Specifically, Rule
4350(i) promulgated by the NASD generally requires stockholder approval for stock option plans or other equity compensation arrangements adopted by companies whose securities are listed on the Nasdaq National Market pursuant to which stock awards or
stock may be acquired by officers, directors, employees, or consultants of such companies. NASD Rule 4350(i)(1)(A)(iv) provides an exception to this requirement for issuances of securities to a person not previously an employee or director of the
issuer, or following a bona fide period of non-employment, as an inducement material to the individual’s entering into employment with the issuer; provided, such issuances are approved by either the issuer’s compensation committee
comprised of a majority of independent directors or a majority of the issuer’s independent directors. Awards under the Plan may only be made to Eligible Participants who have not previously been an Employee or director of the Company or a
Subsidiary, or following a bona fide period of non-employment by the Company or a Subsidiary, as an inducement material to the Eligible Participant’s entering into employment with the Company or a Subsidiary. Awards under the Plan will be
approved by (i) the Company’s Compensation Committee comprised of a majority of the Company’s Independent Directors or (ii) a majority of the Company’s Independent Directors. Accordingly, pursuant to NASD Rule
4350(i)(1)(A)(iv), the issuance of Awards and the shares of Common Stock issuable upon exercise or vesting of such Awards pursuant to the Plan are not subject to the approval of the Company’s stockholders. 
  

 18 








 RENOVIS, INC. 
 STOCK OPTION GRANT NOTICE AND STOCK OPTION AGREEMENT 
 UNDER THE 2006 EMPLOYMENT COMMENCEMENT
INCENTIVE PLAN 
 Renovis, Inc. (the “Company”), pursuant to its 2006 Employment Commencement Incentive Plan (the
“Plan”) hereby grants to the Optionee listed below (“Optionee”), an option to purchase the number of shares of the Company’s Stock set forth below. This Option is subject to all of the terms and
conditions as set forth herein and in the Stock Option Agreement and the Plan, each of which are attached hereto and incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined
meanings in this Stock Option Agreement. 
 Optionee: 
 Date of Stock Option Agreement: 
 Grant Date: 
 Vesting Commencement Date: 
 Exercise Price per Share: 
 Total Number of Shares Granted: 
 Total Exercise Price: 
 Expiration Date: 
  

			
	Type of Option:	  	This Option is a Non-Qualified Stock Option
		
	Vesting Schedule:	  	1/4th of the Shares Granted vest on the first anniversary
of the Vesting Commencement Date, and 1/48th of the Shares Granted vest monthly thereafter over the next three
years, provided that the option holder has not had a Termination of Service (as described in the Stock Option Agreement attached hereto) prior to each vesting date.

 By his or her signature and the Company’s signature below, Optionee agrees to be bound by the
terms and conditions of the Plan and the Stock Option Agreement attached hereto. Optionee has reviewed the Stock Option Agreement and the Plan in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option
and fully understands all provisions of the Grant Notice, the Stock Option Agreement and the Plan. Optionee agrees that Optionee has not been previously employed in any capacity by the Company or a Subsidiary, or if previously employed, has had a
bona-fide period of non-employment, and that the grant of this Option is an inducement material to Optionee’s agreement to enter into employment with the Company or Subsidiary. Optionee hereby agrees to accept as binding, conclusive and final
all decisions or interpretations of the administrator of the Plan upon any questions arising under the Plan or this Option. Optionee further agrees to notify the Company upon any change in the residence address indicated below. 
  

									
	 RENOVIS, INC.
	 		 	OPTIONEE:
					
	 By:
	 	  
	 		 	By:	 	  

	 Print Name:
	 	John C. Doyle	 		 	Print Name:	 	
	 Title
	 	S.V.P. Finance/Operations & CFO	 		 		 	
	 Address:
	 	 Renovis, Inc.
 Two Corporate Drive
 South San Francisco, CA 94080
	 		 	Address:	 	

  

 GRANT NOTICE PAGE 1 








 RENOVIS, INC. 
 2006 EMPLOYMENT COMMENCEMENT INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 Pursuant to the Stock Option Grant Notice (“Grant Notice”) to which this Stock Option Agreement (this
“Agreement”) is attached, Renovis, Inc. (the “Company”) has granted to the Optionee an option under the Company’s 2006 Employment Commencement Incentive Plan (the “Plan”)
to purchase the number of shares of Stock indicated in the Grant Notice at the exercise price indicated in the Grant Notice. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Agreement.

 ARTICLE I 
 DEFINITIONS; INCORPORATION OF TERMS 
 1.1 General. Wherever the following terms are used in this Agreement they shall
have the meanings specified below, unless the context clearly indicates otherwise. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan. 
 1.2 Incorporation of Terms of Plan. The Option is subject to the terms and conditions of the Plan which are incorporated herein by reference.

 ARTICLE II 
 GRANT OF
OPTION 
 2.1 Grant of Option. In consideration of the Optionee’s agreement to commence and remain in the employ of the
Company or its Subsidiaries and for other good and valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company irrevocably grants to the Optionee the Option to purchase
any part or all of an aggregate of the number of shares of Stock set forth in the Grant Notice, upon the terms and conditions set forth in this Agreement. The Option shall be a Non-Qualified Stock Option. 
 2.2 Purchase Price. The purchase price per share of the shares of Stock subject to the Option shall be as set forth in the Grant Notice, without
commission or other charge; provided, however, that the exercise price shall not be less than the Fair Market Value of a share of Stock, unless otherwise permitted by applicable law. 
 2.3 Consideration to the Company. In consideration of the granting of the Option by the Company, the Optionee agrees to render faithful and
efficient services to the Company or any Subsidiary, with such duties and responsibilities as the Company shall from time to time prescribe. Nothing in the Plan or this Agreement shall confer upon the Optionee any right to continue in the employ of
the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which are hereby expressly reserved, to discharge the Optionee at any time for any reason whatsoever, with or without cause.

  

 STOCK OPTION AGREEMENT PAGE 1 








 ARTICLE III 
 PERIOD OF EXERCISABILITY 
 3.1 Commencement of Exercisability. 
 (a) Subject to Sections 3.3 and 5.10, the Option shall become exercisable in such amounts and at such times as are set forth in the Grant Notice.

 (b) No portion of the Option which has not become exercisable at Termination of Service (as defined in Section 3.3 below) shall
thereafter become exercisable, except as may be otherwise provided by the Committee or as set forth in a written agreement between the Company and the Optionee. 
 3.2 Duration of Exercisability. The installments provided for in Section 3.1(a) are cumulative. Each such installment which becomes exercisable pursuant to Section 3.1 shall remain exercisable until
it becomes unexercisable under Section 3.3. 
 3.3 Expiration of Option. The Option may not be exercised to any extent by anyone
after the first to occur of the following events: 
 (a) The expiration of ten years from the Grant Date; or 
 (b) The expiration of three months following the date of the Optionee’s Termination of Service, unless such Termination of Service occurs by reason
of the Optionee’s death or Disability or as set forth in a written agreement with the Company; or 
 (c) The expiration of twelve months
following the date of the Optionee’s Termination of Service by reason of the Optionee’s Disability; or 
 (d) The expiration of
eighteen months following the date of the Optionee’s Termination of Service by reason of the Optionee’s death. 
 (e) For purposes
of this Agreement, “Termination of Service” means the time when the employment relationship between the Optionee and the Company or any Subsidiary is terminated for any reason, with or without cause, including, but not by way
of limitation, a termination by resignation, discharge, death or Disability; but excluding (a) a termination where there is a simultaneous reemployment or continuing employment of the Optionee by the Company or any Subsidiary or a parent
corporation thereof (within the meaning of Section 422 of the Code), (b) at the discretion of the Committee, a termination which results in a temporary severance of the employee-employer relationship, and (c) at the discretion of the
Committee, a termination which is followed by the simultaneous establishment of a consulting relationship by the Company or a Subsidiary with the former Employee. The Committee, in its absolute discretion, shall determine the effect of all matters
and questions relating to Termination of Service for the purposes of this Agreement, and all questions of whether particular leaves of absence for Optionees constitute Terminations of Service. Notwithstanding any other provision of the Plan or this
Agreement, the Company or any Subsidiary has an absolute and unrestricted right to terminate the Optionee’s employment and/or consultancy at any time for any reason whatsoever, with or without cause. 
  

 STOCK OPTION AGREEMENT PAGE 2 








 ARTICLE IV 
 EXERCISE OF OPTION 
 4.1 Person Eligible to Exercise. Except as provided in Sections 5.2(b)
and 5.2(c), during the lifetime of the Optionee, only the Optionee may exercise the Option or any portion thereof. After the death of the Optionee, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable
under Section 3.3, be exercised by the Optionee’s beneficiary designated in accordance with Section 9.4 of the Plan. If no beneficiary has been designated or survives the Optionee, the Option may be exercised by the person entitled to
such exercise pursuant to the Optionee’s will or the laws of descent and distribution. 
 4.2 Partial Exercise. Any exercisable
portion of the Option or the entire Option, if then wholly exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 3.3. 
 4.3 Manner of Exercise. The Option, or any exercisable portion thereof, may be exercised solely by delivery to the Secretary of the Company or the
Secretary’s office of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under Section 3.3: 
 (a) An Exercise Notice in writing signed by the Optionee or the other person then entitled to exercise the Option or portion thereof, stating that the Option or portion thereof is thereby exercised, such notice
complying with all applicable rules established by the Committee. Such notice shall be substantially in the form attached as Exhibit A hereto (or such other form as is prescribed by the Committee); and 
 (b)    (i) Full payment (in cash or by check) for the shares with respect to which the Option or portion thereof is
exercised, to the extent permitted under applicable laws; or 
 (ii) To the extent permitted under applicable laws, through
the delivery of a notice that the Optionee has placed a market sell order with a broker with respect to shares of Stock then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds
of the sale to the Company in satisfaction of the Option exercise price, provided, that payment of such proceeds is made to the Company upon settlement of such sale; or 
 (iii) With the consent of the Committee, any combination of the consideration provided in the foregoing subparagraphs (i) and (ii);
and 
 (c) A bona fide written representation and agreement, in such form as is prescribed by the Committee, signed by the Optionee or other
person then entitled to exercise such Option or portion thereof, stating that the shares of Stock are being acquired for the Optionee’s own account, for investment and without any present intention of distributing or reselling said shares or
any of them except as may be permitted under the Securities Act of 1933, as amended (the “Securities Act”), and then applicable rules and regulations thereunder, and that the Optionee or other person then entitled to exercise
such Option or portion thereof will indemnify the Company against and hold it free and harmless from any loss, damage, expense or liability resulting to the Company if any sale or distribution of the shares by such person is contrary to the
representation and agreement referred to above. The Committee may, in its absolute discretion, take whatever additional actions it deems appropriate to ensure the observance and performance of such representation and agreement and to effect
compliance with the Securities Act and 

  

 STOCK OPTION AGREEMENT PAGE 3 








 
any other federal or state securities laws or regulations. Without limiting the generality of the foregoing, the Committee may require an opinion of counsel
acceptable to it to the effect that any subsequent transfer of shares acquired on an Option exercise does not violate the Securities Act, and may issue stop-transfer orders covering such shares. Share certificates evidencing Stock issued on exercise
of the Option shall bear an appropriate legend referring to the provisions of this subsection (c) and the agreements herein. The written representation and agreement referred to in the first sentence of this subsection (c) shall, however,
not be required if the shares to be issued pursuant to such exercise have been registered under the Securities Act, and such registration is then effective in respect of such shares; and 
 (d) Full payment to the Company (or other employer corporation) of all amounts which, under federal, state, local or foreign tax law, it is required to
withhold upon exercise of the Option. With the consent of the Committee, shares of Stock issuable to the Optionee upon exercise of the Option, having a Fair Market Value at the date of Option exercise equal to the statutory minimum sums required to
be withheld, may be used to make all or part of such payment; and 
 (e) In the event the Option or portion thereof shall be exercised
pursuant to Section 4.1 by any person or persons other than the Optionee, appropriate proof of the right of such person or persons to exercise the Option. 
 4.4 Conditions to Issuance of Stock Certificates. The shares of Stock deliverable upon the exercise of the Option, or any portion thereof, shall be fully paid and nonassessable. The Company shall not be
required to issue or deliver any certificate or certificates for shares of Stock purchased upon the exercise of the Option or portion thereof prior to fulfillment of all of the following conditions: 
 (a) The admission of such shares to listing on all stock exchanges on which such Stock is then listed; and 
 (b) The completion of any registration or other qualification of such shares under any state or federal law or under rulings or regulations of the
Securities and Exchange Commission or of any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable; and 
 (c) The obtaining of any approval or other clearance from any state or federal governmental agency which the Committee shall, in its absolute discretion, determine to be necessary or advisable; and 
 (d) The receipt by the Company of full payment for such shares, including payment of all amounts which, under federal, state or local tax law, the
Company (or other employer corporation) is required to withhold upon exercise of the Option; and 
 (e) The lapse of such reasonable period
of time following the exercise of the Option as the Committee may from time to time establish for reasons of administrative convenience. 
 4.5 Rights as Stockholder. The holder of the Option shall not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of any shares purchasable upon the exercise of any part of the Option unless and
until certificates representing such shares shall have been issued by the Company to such holder. 
  

 STOCK OPTION AGREEMENT PAGE 4 








 ARTICLE V 
 OTHER PROVISIONS 
 5.1 Administration. The Committee shall have the power to interpret the
Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and
determinations made by the Committee in good faith shall be final and binding upon the Optionee, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made
in good faith with respect to the Plan, this Agreement or the Option. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan and this Agreement; provided,
however, any action taken by the Board in connection with the administration of the Plan shall not be deemed approved by the Board unless such actions are approved by a majority of the Independent Directors. 
 5.2 Option Not Transferable. 
 (a)
Subject to Section 5.2(b), the Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution unless and until the Option has been exercised, or the shares underlying such
Option have been issued, and all restrictions applicable to such shares have lapsed. Neither the Option nor any interest or right therein shall be liable for the debts, contracts or engagements of the Optionee or his or her successors in interest or
shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any
other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence. 
 (b) Notwithstanding any other provision in this Agreement, with the consent of the Committee, the Option may be transferred to, exercised by and paid to
certain persons or entities related to the Optionee, including but not limited to members of the Optionee’s family, charitable institutes or trusts or other entities whose beneficiaries or beneficial owners are members of the Optionee’s
family or to such other persons or entities as may be expressly approved by the Committee (each a “Permitted Transferee”), pursuant to such conditions and procedures as the Committee may require. 
 (c) Unless transferred to a Permitted Transferee in accordance with Section 5.2(b), during the lifetime of the Optionee, only the Optionee may
exercise the Option or any portion thereof. Subject to such conditions and procedures as the Committee may require, a Permitted Transferee may exercise the Option or any portion thereof during the Optionee’s lifetime. After the death of the
Optionee, any exercisable portion of the Option may, prior to the time when the Option becomes unexercisable under Section 3.3, be exercised by the Optionee’s beneficiary designated in accordance with Section 9.4 of the Plan. If no
beneficiary has been designated or survives the Optionee, the Option may be exercised by the person entitled to such exercise pursuant to the Optionee’s will or the laws of descent and distribution. 
  

 STOCK OPTION AGREEMENT PAGE 5 








 5.3 Restrictive Legends and Stop-Transfer Orders. 
 (a) The share certificate or certificates evidencing the shares of Stock purchased hereunder shall be endorsed with any legends that may be required by
state or federal securities laws. 
 (b) The Optionee agrees that, in order to ensure compliance with the restrictions referred to herein,
the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 
 (c) The Company shall not be required: (i) to transfer on its books any shares of Stock that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement, or (ii) to treat as owner of such shares of Stock or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such shares shall have been so transferred. 
 5.4 Shares to Be Reserved. The Company shall at all times during the term of the Option reserve and keep available such number of shares of Stock
as will be sufficient to satisfy the requirements of this Agreement. 
 5.5 Notices. Any notice to be given under the terms of this
Agreement to the Company shall be addressed to the Company in care of the Secretary, and any notice to be given to the Optionee shall be addressed to the Optionee at the address given beneath the Optionee’s signature on the Grant Notice. By a
notice given pursuant to this Section 5.5, either party may hereafter designate a different address for notices to be given to that party. Any notice which is required to be given to the Optionee shall, if the Optionee is then deceased, be
given to the Optionee’s designated beneficiary if any, or the person otherwise entitled to exercise his or her Option pursuant to Section 4.1 by written notice under this Section 5.5. Any notice shall be deemed duly given when
sent via email or enclosed in a properly sealed envelope or wrapper addressed as aforesaid and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 
 5.6 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 5.7 Stockholder Approval Not Required. The Plan will not be submitted for approval by the Company’s stockholders. As more
particularly described in Section 15.1 of the Plan, pursuant to NASD Rule 4350(i)(1)(A)(iv), the issuance of this Option and the shares of Common Stock issuable upon exercise or vesting of such Option pursuant to the Plan are not subject to the
approval of the Company’s stockholders. 
 5.8 Construction. This Agreement shall be administered, interpreted and enforced under
the laws of the State of Delaware without regard to conflicts of laws thereof. 
 5.9 Conformity to Applicable Laws. The Optionee
acknowledges that the Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and
state securities laws and regulations. The Optionee also acknowledges that the Plan is intended to conform with the requirements of rules promulgated by the NASD and, without limiting the foregoing, in particular NASD Rule 4350(i)(1)(A)(iv).
Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Option is granted and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the
Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations. 
  

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 5.10 Amendments. This Agreement may not be modified, amended or terminated except by an instrument
in writing, signed by the Optionee or such other person as may be permitted to exercise the Option pursuant to Section 4.1 and by a duly authorized representative of the Company. 
 5.11 Section 409A. Notwithstanding any other provision of the Plan, this Agreement or the Grant Notice, the Plan, this Agreement and the
Grant Notice shall be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A of the U.S. Internal Revenue Code of 1986, as amended (together with any Department of Treasury regulations and other
interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”). The Committee may, in its discretion, adopt such
amendments to the Plan, this Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Committee determines are necessary or
appropriate to comply with the requirements of Section 409A. 
  

 STOCK OPTION AGREEMENT PAGE 7 








 EXHIBIT A 
 TO GRANT NOTICE AND STOCK OPTION AGREEMENT 
 FORM OF EXERCISE NOTICE 
 Effective as of today,             ,
        , the undersigned (“Optionee”) of this Exercise Notice (the “Agreement”) hereby elects to exercise Optionee’s option to purchase
                     shares of common stock (the “Shares”) of Renovis, Inc. (the “Company”)
under and pursuant to the Renovis, Inc. 2006 Employment Commencement Incentive Plan (the “Plan”) and the Grant Notice and Stock Option Agreement dated
            ,          (the “Option Agreement”). Capitalized terms used herein without definition shall have
the meanings given in the Option Agreement. 
  

			
		
	Grant Date:	 	____________________
		
	Number of Shares as to which Option is Exercised:	 	____________________
		
	Exercise Price per Share:	 	$                    
		
	Total Exercise Price:	 	$                    
		
	Certificate to be issued in name of:	 	____________________
		
	Cash Payment delivered herewith:	 	$                     (Representing the full Exercise Price for the Shares, as well
as any applicable withholding tax)

 Type of Option: This Option is a Non-Qualified Stock Option. 
 1. Representations of Optionee. Optionee acknowledges that Optionee has received, read and understood the Plan and the Option Agreement. Optionee
agrees to abide by and be bound by their terms and conditions. 
 2. Rights as Stockholder. Until the stock certificate evidencing
such Shares is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to
Shares subject to the Option, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for
which the record date is prior to the date the stock certificate is issued, except as provided in Article 10 of the Plan. 
 3. Tax
Consultation. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted with any tax consultants Optionee deems
advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice. 
 4. Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the
restrictions on transfer herein set forth, this Agreement shall be binding upon Optionee and his or her heirs, executors, administrators, successors and assigns. 
  

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 5. Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted
by Optionee or by the Company forthwith to the Committee, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Committee shall be final and binding on the Company and on Optionee. 
 6. Governing Law; Severability. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware excluding
that body of law pertaining to conflicts of law. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.

 7. Notices. Any notice required or permitted hereunder shall be given in accordance with the provisions set forth in
Section 5.5 of the Option Agreement. 
 8. Further Instruments. The parties agree to execute such further instruments and to take
such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. 
 9. Entire Agreement. The
Plan and Option Agreement are incorporated herein by reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and
Optionee with respect to the subject matter hereof. 
  

									
	 ACCEPTED BY:
	 		 	SUBMITTED BY:
			
	 RENOVIS, INC.
	 		 	OPTIONEE
				
	 By:
	 	  
	 		 	  

	 Name:
	 	  
	 		 	Optionee
	 Its:
	 	  
	 		 	
		 		 		 	Address:
		 		 		 	
		 		 		 	  

		 		 		 	  

		 		 		 	  


  

 EXERCISE NOTICE PAGE 2