Exhibit 10.11


 


EMPLOYMENT AGREEMENT


 


Between Calliditas Therapeutics AB, 556659-9766 ("The
Company"), Wallingatan 26B, 111 24 Stockholm and Frank Bringstrup [***] has signed the following employment contract.


 


	1.	Work duties, form of employment, etc.



 


	1.1	FRANK BRINGSTRUP is employed as VP Regulatory Affairs. FRANK BRINGSTRUP will work full time in
the Company and report to the Company's CEO. Normal working hours are 40 hours per week.



 


	1.2	The employment is a permanent employment and is valid from February 1, 2019 or earlier if agreed between the parties.



 


	1.3	FRANK BRINGSTRUP will carry out all parts of his work with the skill, speed and care that the Company has reason to expect
from a reputable VP Regulatory Affairs. The work must be carried out at least 60% at the company's office in Stockholm.



 


	2.	Salary, overtime, etc.



 


	2.1	FRANK BRINGSTRUP receives a salary of SEK 110,000 per month. The salary is paid on the 25th of the earning month. If the 25th
is a holiday, the salary will be paid the following weekday.



 


		In addition to salary, FRANK BRINGSTRUP receives 16.3% of monthly salary per month in
                                                   pensions and insurance benefits, in addition to statutory pensions and insurance.



 


		The work can entail both overtime and travel in the service. FRANK BRINGSTRUP does not have
                                                    the right to overtime or travel time allowance, which should be considered included and paid in full through regular
                                                    salary.



 


		Sick pay is paid in accordance with current legislation.



 


	2.2	Review and possible salary adjustments are made annually on 1 May.



 


	2.3	The right to a bonus for FRANK BRINGSTRUP, if applicable, is agreed in a separate written agreement between the parties and
does not form part of the employment contract.



 


	3.	Vacation



 


		FRANK BRINGSTRUP is entitled to 30 days paid vacation per year. Paid holidays are earned in
                                                      the usual way and must be taken in agreement with the company's CEO.



 


	4.	Work tools etc.



 


	4.1	For the execution of FRANK BRINGSTRUP's duties, the Company provides equipment that is essential for the execution of the work.
Currently, this means laptop and mobile phone.



 


	4.2	FRANK BRINGSTRUP is entitled to reimbursement for reasonable expenses for representation after the approval of the CEO.



 


	4.3	FRANK BRINGSTRUP shall comply with the Company's policy regarding outlays and shall report all receipts no later than the month
after the outlays were made. FRANK BRINGSTRUP is not entitled to compensation for expenses unless FRANK BRINGSTRUP is able to present
a receipt for the expenses.



 


	5.	Loyalty etc.



 


		FRANK BRINGSTRUP has to monitor and safeguard the Company's interests at all times. FRANK
                                                                                     BRINGSTRUP is not entitled to carry out work or, directly or indirectly, to pursue or have a financial interest in activities
                                                                                     that compete with the activities that the Company conducts from time to time. Furthermore, FRANK BRINGSTRUP shall not
                                                                                     undertake any assignment that, by its scope or nature, may adversely affect the performance of the employment.



 






     


     


    

 


	6.	Privacy



 


		FRANK BRINGSTRUP undertakes, without time limit, not to
use confidential information regarding the Company, its operations, customers or partners, with third parties or for own use.
For the purposes of this Agreement, “confidential information” means any information, whether technical, commercial
or other, whether documented or not, with the exception of information that is or becomes widely known or that has come or is
widely publicized in other ways FRANK BRINGSTRUP's violation of this provision.



 


	7.	Prohibition of competition



 


	7.1	The parties agree that FRANK BRINGSTRUP, through its position in the Company, will disclose corporate secrets that cannot be
protected by patents or similar registration procedures, and whose use in competing activities would result in significant but
for the Company. The parties also agree that it is a prerequisite for the Company, in confidence, to submit such information to
FRANK BRINGSTRUP that the Company can ensure that FRANK BRINGSTRUP does not use the knowledge and contacts obtained through the
employment to build or operate in operations that compete with the Company or its affiliates. It is therefore incumbent upon FRANK
BRINGSTRUP to, during the term of the Employment Agreement and for nine (9) months from termination of employment, either himself
or as owner, partner, board member, adviser or employee of another company, either directly or indirectly with the Company, or
with its affiliates, competing operations.



 


	7.2	Except in the cases mentioned below, the Company shall pay FRANK BRINGSTRUP a monthly payment in arrears, as compensation for
the inconvenience of the competitive prohibition on competition. The compensation shall be calculated as the difference of the
income that FRANK BRINGSTRUP subsequently earns, or could reasonably have earned in a new employment or other employment, and the
average compensation received (including both fixed salary and variable remuneration) in the last 12 months before termination
of employment. However, the remuneration from the Company shall never exceed sixty (60) per month of FRANK BRINGSTRUP's average
monthly remuneration per month during the period when the prohibition on competition applies. In the event that FRANK BRINGSTRUP,
despite reasonable measures to limit its loss of income, does not receive new employment or engage in other employment activities
after termination of employment, compensation is paid monthly by sixty (60) percent of FRANK BRINGSTRUP's average monthly compensation
as set out above during the period of the competitive ban. The right to compensation from the Company in accordance with this paragraph
assumes that there is a causal link between FRANK BRINGSTRUP's commitment to prohibit competition and the loss of income arising
from its application. Compensation is not paid if FRANK BRINGSTRUP violates the prohibition on competition.



 






     


     


    

 


	7.3	After the termination of employment, FRANK BRINGSTRUP shall keep the Company informed of the size of its income from new employers
or other business activities. Such notification shall be made in writing to the Company no later than the 15th of each month. If
this does not happen, it is assumed that FRANK BRINGSTRUP has not suffered any loss of income for that month, without the restriction
of competition according to point 7.1, for that reason.



 


	7.4	Compensation under this paragraph shall not be paid for the period during which FRANK BRINGSTRUP may receive severance pay
from the Company or if the employment terminates due to: (i) FRANK BRINGSTRUP's retirement or (ii) cancellation of the Employment
Agreement or the Company has terminated FRANK BRINGSTRUP.



 


	7.5	Both during the employment and after either party's termination of employment and as long as the prohibition on competition
is in force, the Company can unilaterally, through notification to FRANK BRINGSTRUP, limit the scope of the prohibition on competition
or completely free FRANK BRINGSTRUP from the obligation to comply with the prohibition on competition. In the event that the Company
completely exempts FRANK BRINGSTRUP from the obligation to comply with the prohibition on competition, the Company's liability
under paragraph 7.2 above shall cease to apply. The company's possible exemption from the competition ban must be given with one
month's notice period.



 


	8.	Employment and customer prohibitions



 


	8.1	The parties agree that during the term of employment of the Employment Agreement and for twelve (12) months from termination
of employment, FRANK BRINGSTRUP must not have, in person or through any other, business contacts with any person or company, which
during the last twelve months prior to the employment cessation has been a customer of, or actively processed by, the Company or
its affiliated companies, with the aim of causing such customer / potential customer to change, terminate or not enter into a commercial
relationship with the Company or its affiliates. However, upon request from FRANK BRINGSTRUP, the Company may, in written confirmation,
in individual cases release FRANK BRINGSTRUP from this undertaking.



 


	8.1	The parties further agree that during the term of the Employment Agreement and for twelve (12) months from termination of employment,
FRANK BRINGSTRUP may not employ, either personally or through any other person, any person employed or employed by the Company
or its affiliates or utilize their services other than through the Company. However, upon request from FRANK BRINGSTRUP, the Company
may, in written confirmation, in individual cases release FRANK BRINGSTRUP from this undertaking.



 


	9.	Time reporting etc. and policies



 


	 	FRANK BRINGSTRUP undertakes to comply with the Company's policy on time reporting, IT
                                                      security, use of e-mail and the Internet, travel etc.



 


	10.	Results



 


		All results, including all information, data, know-how, inventions or equivalent and all
                                                                                   related intellectual property rights that lie within the Company's business areas and which arise through FRANK BRINGSTRUP's
                                                                                   care or participation during the period of employment ("Result") shall immediately belong to the Company with full
                                                                                   and unrestricted ownership without any other compensation to FRANK BRINGSTRUP other than ordinary salary under this
                                                                                   Agreement. At the Company's request, FRANK BRINGSTRUP shall confirm transfer of Results in a separate written document where
                                                                                   appropriate or necessary for, for example, seeking intellectual property protection or carrying out a transaction.



 


	11.	Personal data



 


		In order to administer this employment contract and to be able to carry out work management
                                                                                  and conduct the business in an appropriate manner, the Company will process FRANK BRINGSTRUP's personal data with the help
                                                                                  of, among other things. computers. The personal information consists of FRANK BRINGSTRUPs, social security number, telephone
                                                                                  number, home address, other contact details, bank account details, etc. The Company may also publish FRANK BRINGSTRUP's name,
                                                                                  position, telephone number, e-mail address and a photo on FRANK BRINGSTRUP on the Company's website.



 






     


     


    

 


		FRANK BRINGSTRUP hereby submits its approval to the Company's processing of FRANK
                                                      BRINGSTRUP's personal data as above.



 


	12.	Termination



 


	12.1	Mutual notice period of 3 months is applied.



 


	12.2	Upon termination of employment, FRANK BRINGSTRUP shall hand over to the Company all material and property of the Company for
which FRANK BRINGSTRUP has possession or otherwise is responsible. This includes keys, documents and documents (both in paper form
and digital), computer, mobile phone, software etc.



 


	13.	Penalty



 


		Should FRANK BRINGSTRUP violate the provisions of Articles 5, 6, 8 and 10, in addition to
                                                                                      damages for actual damage, the company shall also be entitled to receive a penalty of at least three months' salary for each
                                                                                      violation.



 


	14.	Law 



 


		Swedish law shall apply to this agreement.



 


 



 


This agreement has been drawn up in two
similar copies, each of which the parties have taken separately.


 


	Stockholm 18/12 2018	 	Stockholm 18/12 20118
	 	 	 
	 	 	 
	Calliditas Therapeutics AB	 	 
	 	 	 
	 	 	 
	/s/ Renée Aguiar-Lucander	 	/s/ Frank Bringstrup
	Renée Aguiar-Lucander, CEO	 	Frank Bringstrup