Exhibit 10.3


 





	 	CONFIDENTIAL


 


Confidential
Offer Letter For

Vered Bisker-Leib


 


November 28, 2017


 


Dear Vered:


 


We are very pleased to offer you full time,
permanent employment with Compass Therapeutics LLC (“Compass”) as Chief Business Officer (CBO), under the following terms.
You will report directly to Co-founder and Chief Executive Officer, Thomas Schuetz. Your responsibilities will include oversight
of all Business Development actitivites.


 


Start Date: Your start date
will be December 1, 2017 or a date mutually agreed upon by you and Compass, including earlier if existing arrangements allow.


 


Base Salary: Your base salary
will be equivalent to $325,000.00 annually which will be paid in semi-monthly installments of $13,541.66. You are also eligible
for a target bonus opportunity of 33% based on achievement of company and individual goals. Bonus payments will be made in March
following the completion of the performance year and you must be employed at Compass Therapeutics LLC at the time of payment. All
payments will be subject to deductions for taxes and other withholdings as required by law or the policies of the company.


 


Profits Interests: Upon starting
your employment, you will be granted 1,500,000 profits interest Common Units in Compass. 25% of these shares will vest on the first
anniversary of your employment and the remaining shares will vest monthly over the following 36 months (months 13-48) at a rate
of 1/36 per month. Upon completion of a board-approved “first major deal,” you will be granted 500,000 additional profits
interest Common Units. The vesting schedule will be the same: 25% of these shares will vest on the first anniversary of the deal
and the remaining shares will vest monthly over the following 36 months (months 13-48) at a rate of 1/36 per month.


 


401(k): You are eligible
to participate in Compass’s Traditional 401(k) or Roth 401(k) programs which do not presently include a company match. The company,
may at times, and with Board of Directors approval, make a discretionary contribution into the 401(k) program.


 


Time Off: Compass allows
employees to take time off as needed, with manager approval. For the remainder of 2017, Compass will be closed from December 23th-January
1st, 2018.


 


Benefits: Compass offers
health, dental, vision and life insurance. You are eligible for Compass’ standard medical coverage as defined in the Compass Therapeutics
Explanation of Healthcare Benefits. Compass subsidizes a significant portion of premiums, deductibles, and out-of-pocket maximums.
As of the date hereof, Compass subsidizes 90% in premiums, deductibles and out-of-pocket maximums associated with medical coverage
and 90% of premiums for dental and vision coverage.


 


Compass also offers commuter and cell phone
reimbursement programs in addition to enrollment in a Flexible Spending Account (FSA), which allows you to put aside pre-tax income
for unreimbursed medical, dental, vision and dependent care expenses.


 


As is true for all Compass employees, your
employment with Compass will be “at will”, meaning that either you or Compass may terminate your employment at any time
for any reason.


 






     


     


    

 


	 	CONFIDENTIAL



 


This offer of employment is contingent
on a background check and your signing of Compass’ employee confidentiality, non-compete and non-solicitation agreement. You will
also be required to submit documentation that establishes your identity and employment eligibility in accordance with the US Immigration
and Naturalization requirements. If there are any other agreements of any type that you are aware of which may impact or limit
your ability to perform your job at Compass, please let us know as soon as possible.


 


If you would like to accept this offer
please sign and return the letter and the enclosed agreement by the end of day on December 1,2017 to sara.mannle@compasstherapeutics.com


 


We look forward to having you as part of
the Compass team.


 


Sincerely,


 


	/s/ Thomas Schuetz	 
	 	 
	Thomas Schuetz, MD, PhD	 
	Co-founder and Chief Executive Officer	 
	 	 
	AGREED TO:	 
	 	 
	/s/ Vered Bisker-Leib	 
	Vered Bisker-Leib	 
	 	 
	November 28th, 2017	 
	Date