EX-10.29



 Exhibit 10.29 
  





 
  

			
		  	225 Gateway Boulevard
	November 3, 2008	  	South San Francisco, CA 94080
		  	Tel. (650) 866-7200
	Frank H. Valone, M.D.	  	Fax (650) 866-7201
	[PRIVATE ADDRESS]	  	

 Dear Frank: 
 FibroGen, Inc. is
pleased to offer you the position of Chief Medical Officer – reporting to Tom Neff, Chief Executive Officer. We are very excited about the possibility of you joining our team, and we look forward to the prospect of working with you in our
innovative company! The following outlines the specific terms of our offer: 
  

	 	•	 	Your salary will be $29,166.67 per month, less taxes and standard deductions as required by law. Paid bimonthly, this figure will annualize to $350,000. 


 

	 	•	 	You will be paid an employment bonus of $30,000, less taxes and standard deductions. 

  

	 	•	 	Pending any necessary approvals, including those of the Company’s Board of Directors, and in compliance with applicable laws and regulations, we plan to offer you an option to purchase 200,000 shares of common
stock of FibroGen, pursuant to the terms and conditions of the Company’s 2005 Stock Plan, and may be amended or modified from time to time. 

  

	 	•	 	You will be eligible for certain FibroGen employee benefits, which will include medical, vision and dental health insurance. Additionally, we offer a 401(k) plan, which provides you with the opportunity for pre-tax
long-term savings by deferring from 1-60% of your annual salary, subject to certain maximums. These benefits may be modified or terminated from time to time, and a benefit summary has been included with this letter. More detailed information
regarding your benefits will be provided at your New Employee Orientation, shortly after you begin employment. 

  

	 	•	 	As a full-time employee, you will receive twenty (20) days of paid vacation each year, which will accrue at the rate of         days per month beginning from your first day
of employment at FibroGen. 

  

	 	•	 	You will abide by FibroGen’s strict company policy that prohibits any new employee from using or bringing with them from any prior employer any proprietary information, trade secrets, proprietary materials or
processes of such former employers. Moreover, because the Company’s proprietary information is extremely important, this offer is expressly subject to your executing the enclosed Confidential Information, Secrecy and Invention Agreement for
Employees. You also agree to follow all other rules and policies that the Company may announce from time to time. 

  

	 	•	 	You will also be required to sign the Employment Eligibility Verification (Form 1-9). (You will need to complete and return Section One of the 1-9 form along with your signed offer letter). On your first day of
employment, please bring the necessary documents that establish your identity and employment eligibility. Acceptable documents are listed on the reverse side of the I-9 form. Such documentation must be provided to us within three
(3) business days of your date of hire, or our employment relationship with you may be terminated 









 Valone, Frank 

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	 	•	 	You should be aware that your employment with the Company is for no specified period and constitutes “at-will” employment. As a result, you are free to resign at
any time, for any reason, with or without cause or notice. Similarly, the Company is free to conclude its employment with you at any time. The changing needs of the Company could also result in changes to certain aspects of
your employment, such as compensation, responsibilities, location, etc. These provisions expressly supersede any previous representations, oral or written. Your at-will employment cannot be modified or amended except by written agreement signed by
both you and the President of the Company. 

  

	 	•	 	Any dispute or claim, including all contract, tort, discrimination and other statutory claims, arising under or relating to your employment or termination of your employment with the Company but excepting claims under
applicable workers’ compensation law and unemployment insurance claims (“arbitrable claims”) alleged against the Company and/or its agents shall be resolved by arbitration. However, you and the Company agree that this arbitration
provision shall not apply to any disputes or claims relating to or arising out of the misuse or misappropriation of the Company’s trade secrets. Such arbitration shall be final and binding on the parties and shall be the exclusive remedy for
arbitrable claims. You and the Company hereby waive any rights each may have to a jury trial in regard to the arbitrable claims. Arbitration shall be conducted by the American Arbitration Association in San Mateo (or other mutually
agreed upon city) under the National Rules for the Resolution of Employment Disputes. In any arbitration, the burden of proof shall be allocated as provided by applicable law. The Company agrees to pay the fees and costs of the
arbitrator. However, the arbitrator shall have the same authority as a court to award equitable relief, damages, costs, and fees (excluding the costs and fees for the arbitrator) as provided by law for the particular claims asserted.


 Unless otherwise notified by the Company, this offer of employment is effective for 5 business days from the date of this letter.
There are two originals of this letter enclosed. If all of the foregoing is satisfactory, please sign and date each original and return one to me within five business days in the enclosed envelope, saving the other original for yourself. Please also
complete the following enclosed forms and mail them back with your signed offer letter: 
  

	•	 	I-9 Form 

  

	•	 	Confidential Information, Secrecy and Invention Agreement 

  

	•	 	FibroGen Employment Application 

 Frank, we look forward to your joining our team at FibroGen. 

 

	
	Sincerely,
	
	 /s/ Ted A. Tucker

	Ted A. Tucker
	Vice President, Human Resources









 Valone, Frank 

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	ACCEPTED AND AGREED TO this
	
	5th Day of November, 2008
	
	 /s/ Frank H. Valone

	Frank H. Valone, M.D.
	
	 December 1, 2008

	Intended Start Date

  

			
	Enclosures:	  	 Benefits Summary
 Duplicate Letter

Return Envelope
 Employment Eligibility Verification (I-9)
Form
 Confidential Information, Secrecy and Invention Agreement

FibroGen Employment Application