EX-10.6



 Exhibit 10.6 

ANAPTYSBIO, INC. 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”) is made effective
from March 22, 2016 (the “Effective Date”) by and among ANAPTYSBIO, INC. (the “Company”) and Matthew Moyle (“CSO”). The
Company and CSO are hereinafter collectively referred to as the “Parties”, and individually referred to as a “Party”. 

RECITAL 

The Company desires to continue to employ CSO, and CSO is willing to continue to accept such employment by Company, on the terms and subject
to the conditions set forth in this Agreement. 
 AGREEMENT 

In consideration of the foregoing Recitals and the mutual promises and covenants herein contained, and for other good and valuable
consideration, the Parties, intending to be legally bound, agree as follows: 
 1. EMPLOYMENT. 

1.1 Title. Effective as of the Effective Date, CSO’s position shall be Chief Scientific Officer of the Company, subject to
the terms and conditions set forth in this Agreement. 
 1.2 Term. The term of this Agreement shall begin on the Effective Date and
shall continue until it is terminated pursuant to Section 4 herein (the “Term”). 
 1.3 Duties. CSO shall
do and perform all services, acts or things necessary or advisable to manage and conduct the business of the Company and that are normally associated with the position of Chief Scientific Officer. CSO shall report to the Chief Executive Officer.

 1.4 Policies and Practices. The employment relationship between the Parties shall be governed by this Agreement and by the
policies and practices established by the Company and/or the Board, or any designated committee thereof. In the event that the terms of this Agreement differ from or are in conflict with the Company’s policies or practices or the Company’s
Employee Handbook, this Agreement shall control. 
 1.5 Location. Unless the Parties otherwise agree in writing, during the Term CSO
shall perform the services CSO is required to perform pursuant to this Agreement at the Company’s offices in San Diego, California, provided, however, that the Company may from time to time require CSO to travel temporarily
to other locations in connection with the Company’s business. 







 2. LOYALTY; NONCOMPETITION; NONSOLICITATION.

 2.1 Loyalty. During CSO’s employment with the Company, CSO shall devote CSO’s full business energies,
interest, abilities and productive time to the proper and efficient performance of CSO’s duties under this Agreement. 
 2.2
Agreement not to Participate in Company’s Competitors. During CSO’s employment with the Company, CSO agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by CSO to
be adverse or antagonistic to the Company, its business, or prospects, financial or otherwise, or in any company, person, or entity that is, directly or indirectly, in competition with the business of the Company or any of its Affiliates (as defined
below). Ownership by CSO, in professionally managed funds over which CSO does not have control or discretion in investment decisions, or as a passive investment, of less than two percent (2%) of the outstanding shares of capital stock of any
corporation with one or more classes of its capital stock listed on a national securities exchange or publicly traded on a national securities exchange or in the over-the-counter market shall not constitute a breach of this Section. For purposes of
this Agreement, “Affiliate,” means, with respect to any specific entity, any other entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such
specified entity. 
 2.3 Covenant not to Compete. During CSO’s employment with the Company, CSO shall not engage in
competition with the Company and/or any of its Affiliates in any manner or capacity, as adviser, principal, agent, affiliate, promoter, partner, officer, director, employee, stockholder, owner, co-owner, consultant, in any phase of the business of
developing, manufacturing and marketing of products or services that directly compete with the products or services of the Company, except with the prior written consent of the Board. 

3. COMPENSATION OF CSO. 

3.1 Base Salary. The Company shall pay CSO a base salary at the annualized rate of $290,000 (the “Base
Salary”), less payroll deductions and all required withholdings, payable in regular periodic installments in accordance with the Company’s normal payroll practices. The Base Salary shall be prorated for any partial year of
employment on the basis of a 365-day fiscal year. 
 3.2 Discretionary Bonus. At the sole discretion of the Board and Chief Executive
Officer, promptly following each calendar year of employment CSO shall be eligible to receive a discretionary cash bonus of up to 30% of CSO’s then-current base salary (the “Bonus”), based on CSO’s achievement
relative to certain performance goals (“Performance Goals”) to be established by the Chief Executive Officer in writing in a manner reasonably consistent with the Company’s priorities. The determination of whether CSO
has met the Performance Goals for any given year, and if so, the amount of any Bonus that will be paid for such year (if any), shall be determined by the Board and Chief Executive Officer in their sole and absolute discretion. In order to be
eligible to earn or receive any Bonus, CSO must remain employed by the Company through and including the date of payment of such Bonus. For the first calendar year of CSO’s employment with Company, the Bonus payable shall be pro-rated in








 
accordance with the percentage of the calendar year that the CSO is an employee of the Company. 

3.3 Relocation. CSO in good faith intends to relocate his household to the San Diego area as soon as practical, but no later than May
2017. Until such time as CSO relocates, CSO agrees to spend at least 3 weeks per month in San Diego at the Company’s offices, unless if otherwise approved on a month-by-month basis by the Chief Executive Officer. The Company will cover the
actual and reasonable costs associated with CSO’s monthly commute to San Diego and housing in San Diego, until such time as CSO relocates to the San Diego area, up to a maximum of $40,000 in the aggregate, provided that no greater than one
round-trip flight per month from CSO’s location in Connecticut to San Diego shall be reimbursed, and no greater than $4,000 shall be accrued in housing expenses per month against this aggregate. Upon the relocation of the CSO’s household
to the San Diego area, the Company will reimburse CSO for actual and reasonable relocation expenses directly associated with the relocation up to an additional $135,000, to include airfare for up to 2 family trips to San Diego in addition to a final
relocation trip airfare, closing costs associated with the sale of the family home in Connecticut, fees associated with the purchase of a family home in San Diego upon household relocation, transportation of personal household items and up to 2
vehicles. The Chief Executive Officer will have discretion on what expenses are included within this allowance. CSO must remain employed by the Company through and including the date of payment of any such amounts payable under this
Section 3.3, and all such payments will be subject to any necessary payroll deductions and all required withholdings.  
 3.4
Stock Option. As soon as practicable following the Effective Date, CSO will be granted an option to purchase up to 1,185,925 shares of the Company’s Common Stock (the “Base Option”) pursuant to the terms of the
Company’s 2006 Equity Incentive Plan, as amended from time to time (the “Plan”). For purposes of this Section 3.3, “fully-diluted capitalization of the Company” means (1) all issued and
outstanding equity securities of the Company, (2) all shares issuable upon the conversion, exercise, or exchange of any outstanding options, warrants, or other convertible or exchangeable securities of the Company and (3) all shares
reserved for future issuance pursuant to the Plan. The Base Option shall be subject to vesting such that, subject to CSO’s continued employment with the Company, 1/4 of the shares subject to the Base Option shall vest as of the first
anniversary of the Effective Date and 1/48th of the shares subject to the Base Option shall vest in equal monthly installments on the monthly anniversary of the Effective Date of each month for
the 36 months thereafter. The exercise price per share of the Base Option will be equal to the fair market value of a single share of Common Stock on the date the Base Option is granted, as determined in good faith by the Board. The Base Option will
be governed by the Plan and shall be granted pursuant to a separate stock option grant notice and stock option agreement. For clarity, any and all preferred shares of the Company purchased by CSO, prior to or following the Effective Date, are not
included in the aforementioned consideration due to CSO. 
 3.5 Expense Reimbursements. The Company will reimburse CSO for all
reasonable business expenses CSO incurs in conducting his duties hereunder, pursuant to the Company’s usual expense reimbursement policies; provided that CSO supplies the appropriate substantiation for such expenses no later than the end of the
calendar month following the month in which such expenses were incurred by CSO. 







 3.6 Changes to Compensation. CSO’s compensation will be reviewed annually and may be
changed from time to time in the Company’s sole discretion. 
 3.7 Employment Taxes. All of CSO’s compensation shall
be subject to customary withholding taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. 

3.8 Benefits. CSO shall, in accordance with Company policy and the terms of the applicable plan documents, be eligible to participate in
benefits under any benefit plan or arrangement that may be in effect from time to time and made available to the Company’s senior management employees. 

3.9 Holidays and Vacation. CSO shall be eligible for paid holiday and vacation time in accordance with Company policy as in effect from
time to time. 
 4. TERMINATION. 

4.1 Termination by the Company. CSO’s employment with the Company is at will and may be terminated by the Company at any
time and for any reason, or for no reason, including, but not limited to, under the following conditions: 
 4.1.1 Termination by the
Company for Cause. The Company may terminate CSO’s employment under this Agreement for “Cause” (as defined below) by delivery of written notice to CSO. Any notice of termination given pursuant to this section shall effect
termination as of the date of the notice, or as of such other date specified in the notice. 
 4.1.2 Termination by the Company without
Cause. The Company may terminate CSO’s employment under this Agreement without Cause at any time and for any reason, or for no reason. Such termination shall be effective on the date CSO is so informed, or as otherwise specified by
the Company. 
 4.2 Termination by CSO. CSO may terminate his employment with the Company at any time and for any reason, or for no
reason, upon thirty (30) days written notice to the Company. 
 4.3 Termination for Death or Disability. CSO’s
employment with the Company shall automatically terminate effective upon the date of CSO’s death or Disability (as defined in the Plan). 

4.4 Termination by Mutual Agreement of the Parties. CSO’s employment with the Company may be terminated at any time upon a
mutual agreement in writing of the Parties. Any such termination of employment shall have the consequences specified in such agreement. 

4.5 Compensation upon Termination. 

4.5.1 Death or Disability. If CSO’s employment is terminated by death or Disability, the Company shall pay to CSO, or to
CSO’s heirs, CSO’s accrued and unpaid base 







 
salary and accrued and unused vacation benefits earned through the date of termination at the rate in effect at the time of termination, less standard deductions and withholdings. The Company
shall thereafter have no further obligations to CSO and/or CSO’s heirs under this Agreement, except as otherwise provided by law. 

4.5.2 Termination For Cause. If the Company terminates CSO’s employment for Cause, then the Company shall pay CSO’s accrued
and unpaid base salary and accrued and unused vacation benefits earned through the date of termination, at the rate in effect at the time of termination, less standard deductions and withholdings. The Company shall thereafter have no further
obligations to CSO under this Agreement, except as otherwise provided by law. 
 4.5.3 Termination by Company Without Cause or by CSO for
Good Reason Not In Connection with a Change in Control. If the Company terminates CSO’s employment without Cause or if CSO resigns his employment for Good Reason, in either case at any time other than upon the occurrence of, or within the
13 months immediately following, the effective date of a Change in Control, the Company shall pay CSO’s accrued and unpaid base salary and accrued and unused vacation benefits earned through the date of termination, at the rate in effect at the
time of termination, less standard deductions and withholdings. Provided that CSO has permanently relocated his household to the San Diego area prior to such date of termination or resignation, then in addition to the above, if CSO furnishes to the
Company an executed waiver and release of claims in the form attached hereto as Exhibit A (or in such other form as may be specified by the Company) (the “Release”) within the time period specified therein, but in
no event later than 45 days following CSO’s termination, and if CSO allows such Release to become effective in accordance with its terms, then (i) CSO shall be entitled to severance in the form of continuation of his base salary, at the
base salary rate equal to the greater of the rate in effect at the time of termination or immediately prior to the event giving rise to the Good Reason (the “Severance Payments”), for a period of nine (9) months
following the termination date (the “Severance Period”), and (ii) the Company will pay directly to the insurance provider the premium for COBRA continuation coverage for CSO and CSO’s family during the Severance
Period or until he obtains new employment, whichever comes first (the “COBRA Coverage”); provided, however, that notwithstanding anything herein, if the Company determines in its sole discretion that it cannot provide the
foregoing COBRA Coverage benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to
CSO a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA Coverage that CSO would be required to pay to continue CSO’s group health coverage in effect on the termination of employment date
(which amount will be based on the premium for the first month of COBRA coverage). The Severance Payments will be subject to standard payroll deductions and withholdings and will be made on the Company’s regular payroll cycle, provided,
however, that any Severance Payments otherwise scheduled to be made prior to the effective date of the Release shall accrue and be paid in the first payroll period that follows such effective date. The Company shall thereafter have no further
obligations to CSO under this Agreement, except as otherwise provided by law. 
 4.5.4 Termination by Company Without Cause or by CSO for
Good Reason In Connection with a Change in Control. If the Company terminates CSO’s 







 
employment without Cause or if CSO resigns his employment for Good Reason, in either case upon the occurrence of, or within the 13 months immediately following, the effective date of a Change in
Control, the Company shall pay CSO’s accrued and unpaid base salary and accrued and unused vacation benefits earned through the date of termination, at the rate in effect at the time of termination, less standard deductions and withholdings.
Provided that CSO has permanently relocated his household to the San Diego area prior to such date of termination or resignation, then in addition, if CSO furnishes to the Company an executed Release within the time period specified therein, but in
no event later than 45 days following CSO’s termination, and if CSO allows such Release to become effective in accordance with its terms, then CSO shall be entitled to: (1) the Severance Payments and COBRA coverage described in
Section 4.5.3 above and (2) accelerated vesting of any unvested shares subject to the Base Option such that CSO shall become vested in 100% of the shares subject to such Base Option on the effective date of the Release. The Company shall
thereafter have no further obligations to CSO under this Agreement, except as otherwise provided by law. 
 4.6 Definitions.
For purposes of this Agreement, the following terms shall have the following meanings: 
 4.6.1 “Cause” shall
mean the occurrence of any one or more of the following: (i) CSO’s commission of any crime involving fraud, dishonesty or moral turpitude; (ii) CSO’s attempted commission of or participation in a fraud or act of dishonesty
against the Company that results in (or might have reasonably resulted in) material harm to the business of the Company; (iii) CSO’s intentional, material violation of any contract or agreement between CSO and the Company or any statutory
duty CSO owes to the Company; or (iv) CSO’s conduct that constitutes gross insubordination, incompetence or habitual neglect of duties and that results in (or might have reasonably resulted in) material harm to the business of the Company;
provided, however, that the action or conduct described in clauses (iii) and (iv) above will constitute “Cause” only if such action or conduct continues after the Company has provided CSO with written notice thereof and
thirty (30) days to cure, or otherwise remedy to the extent possible under direct control of the CSO, the same. An occurrence of “Cause” as set forth in the preceding sentence shall be based upon a good faith determination by the
Board. CSO’s Disability shall not constitute Cause as set forth herein. The determination that a termination is for Cause shall be by the Board in its sole and exclusive judgment and discretion. 

4.6.2 “Good Reason” shall mean any of the following actions: (i) the assignment to CSO of any duties or
responsibilities that results in a material diminution in CSO’s function (for Section 4.5.4, as in effect immediately prior to the effective date of the Change in Control); provided, however, that a change in CSO’s title or
reporting relationships shall not provide the basis for a voluntary termination with Good Reason; (ii) a material reduction by the Company in CSO’s annual base salary as in effect on the effective date of the Change in Control;
provided, however, that Good Reason shall not be deemed to have occurred in the event of a reduction in CSO’s annual base salary that is pursuant to a salary reduction program affecting substantially all of the employees of the Company
and that does not adversely affect CSO to a greater extent than other similarly situated employees; or (iii) a relocation of CSO’s primary business office to a location more than 50 miles from the location of CSO’s primary business
office and which increases the CSO’s commute (for Section 4.5.4, as of the effective date of the Change in Control), except for required travel by CSO on the Company’s business to an extent








 
substantially consistent with CSO’s business travel obligations prior to the effective date of the Change in Control; provided, that CSO may not resign for Good Reason
without first providing the Company with written notice within ninety (90) days of the date of the initial existence of the condition that CSO believes constitutes Good Reason specifically identifying the acts or omissions constituting the
grounds for Good Reason and a reasonable cure period of not less than thirty (30) days and not more than ninety (90) days following the date of such notice. 

4.7 Survival of Certain Sections. Sections 2, 3.4 and 4 through 18 of this Agreement will survive the termination of this Agreement.

 4.8 Parachute Payment. If any payment or benefit CSO would receive pursuant to this Agreement (“Payment”)
would (i) constitute a “Parachute Payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (ii) but for this sentence, be subject to
the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of
the Payment that would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including the total of the Payment, whichever amount, after taking into account all applicable federal, state and
local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in CSO’s receipt, on an after-tax basis, of the greatest economic benefit notwithstanding that all or some portion of the
Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting Parachute Payments is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the manner that results in the greatest economic
benefit for CSO. If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata. 

In the event it is subsequently determined by the Internal Revenue Service that some portion of the Reduced Amount (as determined pursuant to
clause (x) in the preceding paragraph) is subject to the Excise Tax, CSO agrees to promptly return to the Company a sufficient amount of the Payment so that no portion of the Reduced Amount is subject to the Excise Tax. For the avoidance of
doubt, if the Reduced Amount is determined in accordance with clause (y) in the preceding paragraph, CSO will have no obligation to return any portion of the Payment pursuant to the preceding sentence. 

Unless CSO and the Company agree on an alternative accounting or law firm, the accounting firm then engaged by the Company for general tax
compliance purposes shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint a
nationally recognized accounting, law or consulting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting, law or consulting firm required to be made hereunder.

 The Company shall use commercially reasonable efforts such that the accounting, law or consulting firm engaged to make the determinations
hereunder shall provide its calculations, together with detailed supporting documentation, to CSO and the Company within 15 calendar days after the date on which CSO’s right to a Payment is triggered (if requested at that time by CSO or the
Company) or such other time as requested by CSO or the Company. 







 4.9 Application of Internal Revenue Code Section 409A. Notwithstanding anything to
the contrary set forth herein, any payments and benefits provided under this Agreement (the “Severance Benefits”) that constitute “deferred compensation” within the meaning of Section 409A of the Code and the
regulations and other guidance thereunder and any state law of similar effect (collectively “Section 409A”) shall not commence in connection with CSO’s termination of employment unless and until CSO has also incurred a
“separation from service” (as such term is defined in Treasury Regulation Section 1.409A-1(h) (“Separation From Service”), unless the Company reasonably determines that such amounts may be provided to CSO
without causing CSO to incur the additional 20% tax under Section 409A. 
 It is intended that each installment of the Severance
Benefits payments provided for in this Agreement is a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the Severance Benefits set forth in
this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if the Company (or, if
applicable, the successor entity thereto) determines that the Severance Benefits constitute “deferred compensation” under Section 409A and CSO is, on the termination of service, a “specified employee” of the Company or any
successor entity thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section 409A, the timing of the
Severance Benefit payments shall be delayed until the earlier to occur of: (i) the date that is six months and one day after CSO’s Separation From Service, or (ii) the date of CSO’s death (such applicable date, the
“Specified Employee Initial Payment Date”), the Company (or the successor entity thereto, as applicable) shall (A) pay to CSO a lump sum amount equal to the sum of the Severance Benefit payments that CSO would otherwise
have received through the Specified Employee Initial Payment Date if the commencement of the payment of the Severance Benefits had not been so delayed pursuant to this Section and (B) commence paying the balance of the Severance Benefits in
accordance with the applicable payment schedules set forth in this Agreement. 
 Notwithstanding anything to the contrary set forth herein,
CSO shall receive the Severance Benefits described above, if and only if CSO duly executes and returns to the Company within the applicable time period set forth therein, but in no event more than forty-five days following Separation From Service,
the Release and permits the Release to become effective in accordance with its terms. Notwithstanding any other payment schedule set forth in this Agreement, none of the Severance Benefits will be paid or otherwise delivered prior to the effective
date of the Release. Except to the extent that payments may be delayed until the Specified Employee Initial Payment Date pursuant to the preceding paragraph, on the first regular payroll pay day following the effective date of the Release, the
Company will pay CSO the Severance Benefits CSO would otherwise have received under the Agreement on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the Severance Benefits being
paid as originally scheduled. All amounts payable under the Agreement will be subject to standard payroll taxes and deductions. 







 5. CONFIDENTIAL AND PROPRIETARY
INFORMATION. 
 CSO has already executed, as a condition of CSO’s employment with the Company, the Company’s
standard form of Proprietary Information and Inventions Agreement (the “PIIA”). The PIIA remains in full force and effect. 

6. ASSIGNMENT AND BINDING EFFECT. 

This Agreement shall be binding upon and inure to the benefit of CSO and CSO’s heirs, executors, personal representatives, assigns,
administrators and legal representatives. Because of the unique and personal nature of CSO’s duties under this Agreement, neither this Agreement nor any rights or obligations under this Agreement shall be assignable by CSO. This Agreement shall
be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this
purpose, “successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the
Company. 
 7. NOTICES. 

All notices or demands of any kind required or permitted to be given by the Company or CSO under this Agreement shall be given in writing and
shall be personally delivered (and receipted for) or faxed during normal business hours or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: 

 

			
		 	If to the Company:
		
		 	 10421 Pacific Center Court, Suite 200
 San
Diego, CA 92121
 Attention: Chief Executive Officer

		
		 	If to CSO:
		
		 	Matthew Moyle
		
		 	 [Address]

		
		 	  


 Any such written notice shall be deemed given on the earlier of the date on which such notice is personally delivered or three
days after its deposit in the United States mail as specified above. Either Party may change its address for notices by giving notice to the other Party in the manner specified in this Section. 

8. CHOICE OF LAW. 

This Agreement shall be construed and interpreted in accordance with the internal laws of the State of California without regard to its
conflict of laws principles. 







 9. INTEGRATION. 

This Agreement, including Exhibit A and the PIIA, contains the complete, final and exclusive agreement of the Parties relating to the
terms and conditions of CSO’s employment and the termination of CSO’s employment, and supersedes any and all prior and/or contemporaneous oral and written employment agreements or arrangements between the Parties. 

10. AMENDMENT. 

This Agreement cannot be amended or modified except by a written agreement signed by CSO and the Company. 

11. WAIVER. 

No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with the written consent of the Party
against whom the wavier is claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach. 

12. SEVERABILITY. 

The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any provision of this Agreement shall not
render any other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or unenforceable term or provision with a valid and enforceable term or provision, which most
accurately represents the Parties’ intention with respect to the invalid or unenforceable term, or provision. 
 13.
INTERPRETATION; CONSTRUCTION. 
 The headings set forth in this Agreement are for convenience of reference
only and shall not be used in interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but CSO has been encouraged to consult with, and has consulted with, CSO’s own independent counsel and tax
advisors with respect to the terms of this Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and any rule of construction to the effect that any
ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 
 14.
REPRESENTATIONS AND WARRANTIES. 
 CSO represents and warrants that CSO is not restricted or
prohibited, contractually or otherwise, from entering into and performing each of the terms and covenants contained in this Agreement, and that CSO’s execution and performance of this Agreement will not violate or breach any other agreements
between CSO and any other person or entity. 
 15. COUNTERPARTS. 







 This Agreement may be executed in two counterparts, each of which shall be deemed an original,
all of which together shall contribute one and the same instrument. 
 16. ARBITRATION. 

To ensure the rapid and economical resolution of disputes that may arise in connection with CSO’s employment with the Company, CSO and the
Company agree that any and all disputes, claims, or causes of action, in law or equity, arising from or relating to CSO’s employment, or the termination of that employment, will be resolved, to the fullest extent permitted by law, by final,
binding and confidential arbitration pursuant to both the substantive and procedural provisions of the Federal Arbitration Act in San Diego, California conducted by the Judicial Arbitration and Mediation Services/Endispute, Inc.
(“JAMS”), or its successors, under the then current rules of JAMS for employment disputes; provided that the arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to
award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision including the arbitrator’s essential findings and conclusions and a statement of the award. Accordingly, CSO and the Company hereby
waive any right to a jury trial. Both CSO and the Company shall be entitled to all rights and remedies that either CSO or the Company would be entitled to pursue in a court of law. The Company shall pay any JAMS filing fee and shall pay the
arbitrator’s fee. Nothing in this Agreement is intended to prevent either CSO or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Notwithstanding the foregoing,
CSO and the Company each have the right to resolve any issue or dispute involving confidential, proprietary or trade secret information, or intellectual property rights, by Court action instead of arbitration. 

17. TRADE SECRETS OF OTHERS. 

It is the understanding of both the Company and CSO that CSO shall not divulge to the Company and/or its subsidiaries any confidential
information or trade secrets belonging to others, including CSO’s former employers, nor shall the Company and/or its Affiliates seek to elicit from CSO any such information. Consistent with the foregoing, CSO shall not provide to the Company
and/or its Affiliates, and the Company and/or its Affiliates shall not request, any documents or copies of documents containing such information. 

18. ADVERTISING WAIVER. 

CSO agrees to permit the Company, and persons or other organizations authorized by the Company, to use, publish and distribute advertising or
sales promotional literature concerning the products and/or services of the Company, or the machinery and equipment used in the provision thereof, in which CSO’s name and/or pictures of CSO taken in the course of CSO’s provision of
services to the Company appear. CSO hereby waives and releases any claim or right CSO may otherwise have arising out of such use, publication or distribution. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT
BLANK] 







 IN WITNESS WHEREOF, the
Parties have executed this Agreement as of the dates below. 
  

			
	ANAPTYSBIO, INC.
		
	By: 	 	 /s/ Hamza Suria

	Its: 	 	 President and CEO



 

			
	Dated: 	 	 March 22, 2016

		
	CSO:	 	
	
	/s/ Matthew Moyle
	  

MATTHEW MOYLE

		
	Dated:	 	 March 22, 2016


 [SIGNATURE PAGE TO EMPLOYMENT
AGREEMENT] 







 EXHIBIT A 

RELEASE AND WAIVER OF CLAIMS 

TO BE SIGNED ON OR FOLLOWING THE SEPARATION DATE ONLY 

In consideration of the payments and other benefits set forth in the Employment Agreement effective
            , 201    , to which this form is attached, I, Matthew Moyle, hereby furnish ANAPTYSBIO,
INC. (the “Company”), with the following release and waiver (“Release and Waiver”). 

In exchange for the consideration provided to me by the Employment Agreement that I am not otherwise entitled to receive, I hereby generally
and completely release the Company and its current and former directors, officers, employees, stockholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns (collectively, the
“Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to or on the date that I
sign this Agreement (collectively, the “Released Claims”). The Released Claims include, but are not limited to: (a) all claims arising out of or in any way related to my employment with the Company, or the termination of
that employment; (b) all claims related to my compensation or benefits from the Company including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership
interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and
discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, misclassification, attorneys’ fees, or other claims arising under the federal
Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the California Labor Code, and the California
Fair Employment and Housing Act (as amended). Notwithstanding the foregoing, the following are not included in the Released Claims (the “Excluded Claims”): (a) any rights or claims for indemnification I may have pursuant
to the charter or bylaws of the Company or under applicable law; (b) any rights or claims to unemployment compensation, funds accrued in my 401k account, or any vested equity incentives; (c) any rights that are not waivable as a matter of
law; or (d) any claims arising from the breach of this Agreement. I hereby represent and warrant that, other than the Excluded Claims, I am not aware of any claims I have or might have against any of the Released Parties that are not included
in the Released Claims. 
 I also acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as
follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her
settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that Section and any law of any jurisdiction, including New York, of similar effect with respect to any claims I may have against the
Company. 







 I acknowledge that, among other rights, I am waiving and releasing any rights I may have under
ADEA, that this Release and Waiver is knowing and voluntary, and that the consideration given for this Release and Waiver is in addition to anything of value to which I was already entitled as an executive of the Company. I further acknowledge that
I have been advised, as required by the Older Workers Benefit Protection Act, that: (a) the release and waiver granted herein does not relate to claims under the ADEA which may arise after this Release and Waiver is executed; (b) I should
consult with an attorney prior to executing this Release and Waiver; and (c) if I am age 40 or older at the time of execution of this release, I have 21 days from the date of termination of my employment with the Company in which to consider
this Release and Waiver (although I may choose voluntarily to execute this Release and Waiver earlier); and (d) if I am age 40 or older at the time of execution of this release, I have seven days following the execution of this Release and
Waiver to revoke my consent to this Release and Waiver and this Release and Waiver shall not be effective until the seven day revocation period has expired without my having previously revoked this Release and Waiver. 

I agree not to disparage the Company and its officers, directors, employees, shareholders and/or agents, in any manner likely to be harmful to
them or their business, business reputations or personal reputations; provided that I may respond accurately and fully to any question, inquiry or request for information when required by legal process (e.g., a valid subpoena or other similar
compulsion of law) or as part of a government investigation. 
 I acknowledge my continuing obligations under my Proprietary Information and
Inventions Agreement. Pursuant to the Proprietary Information and Inventions Agreement I understand that among other things, I must not use or disclose any confidential or proprietary information of the Company and I must immediately return all
Company property and documents (including all embodiments of proprietary information) and all copies thereof in my possession or control. I understand and agree that my right to the severance pay I am receiving in exchange for my agreement to the
terms of this Release and Waiver is contingent upon my continued compliance with my Proprietary Information and Inventions Agreement. 

This Release and Waiver constitutes the complete, final and exclusive embodiment of the entire agreement between the Company and me with
regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated herein. This Release and Waiver may only be modified by a writing signed by both me and a duly authorized officer of
the Company. 
  

							
	Date:                                     
                                         
                              	 		 	By:	 	  

		 		 		 	Matthew Moyle