EX-10.5





 Exhibit 10.5 

GLOBAL BLOOD THERAPEUTICS, INC. 

AMENDED AND RESTATED 2015 EMPLOYEE STOCK PURCHASE PLAN 

The purpose of the Global Blood Therapeutics, Inc. Amended and Restated 2015 Employee Stock Purchase Plan (the “Plan”) is to provide
eligible employees of Global Blood Therapeutics, Inc. (the “Company”) and each Designated Subsidiary (as defined in Section 11) with opportunities to purchase shares of the Company’s common stock, par value $0.001 per share (the
“Common Stock”). 50,000 shares of Common Stock in the aggregate have been approved and reserved for this purpose, plus on January 1, 2016 and each January 1 thereafter until January 1, 2025, the number of shares of Common
Stock reserved and available for issuance under the Plan shall be cumulatively increased by the lesser of (i) 3,000,000 shares of Common Stock, (ii) one percent (1%) of the number of shares of Common Stock issued and outstanding on the
immediately preceding December 31 or (iii) such lesser number of shares of Common Stock as determined by the Administrator. The Plan is intended to constitute an “employee stock purchase plan” within the meaning of
Section 423(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be interpreted in accordance with that intent. 

1.        Administration.   The Plan will be administered by the person or persons
(the “Administrator”) appointed by the Company’s Board of Directors (the “Board”) for such purpose. The Administrator has authority at any time to: (i) adopt, alter and repeal such rules, guidelines and practices for
the administration of the Plan and for its own acts and proceedings as it shall deem advisable; (ii) interpret the terms and provisions of the Plan; (iii) make all determinations it deems advisable for the administration of the Plan;
(iv) decide all disputes arising in connection with the Plan; and (v) otherwise supervise the administration of the Plan. All interpretations and decisions of the Administrator shall be binding on all persons, including the Company and the
Participants. No member of the Board or individual exercising administrative authority with respect to the Plan shall be liable for any action or determination made in good faith with respect to the Plan or any option granted hereunder. 

2.        Offerings.   The Company will make one or more offerings to eligible
employees to purchase Common Stock under the Plan (“Offerings”) consisting of one or more Purchase Periods. Unless otherwise determined by the Administrator, an Offering will be 24 months long and a separate Offering will (a) begin on
the first trading day on or after each March 1 and end on the last trading day on or prior to the February 28 (or February 29, as applicable) that is two years later, and (b) begin on the first trading day on or after each
September 1 and end on the last trading day on or prior to the August 31 that is two years later. The Administrator may, in its discretion, designate a different period for any Offering (which may be longer or shorter than 24 months),
provided that no Offering shall exceed 27 months in duration. Unless the Administrator otherwise determines, each Offering will be divided into four equal six-month Purchase Periods. Furthermore, unless
as otherwise determined by the Administrator, Participants will only be permitted to participate in one Offering at a time. Unless the Administrator, in its sole discretion, chooses otherwise prior to an Offering Date, and to the extent an Offering
has more than one Purchase Period and to the extent permitted by applicable law, if the Fair Market Value of the Common Stock on any Exercise Date in an Offering is lower than the Fair Market Value of the Common Stock on the Offering Date, then all
participants in such Offering automatically will be withdrawn from such Offering immediately after the exercise of their option on such Exercise Date and automatically re-enrolled in the immediately following
Offering as of the first day thereof and the preceding Offering will terminate. 

  
 1 













 3.        Eligibility.   All
individuals classified as employees on the payroll records of the Company and each Designated Subsidiary are eligible to participate in any one or more of the Offerings under the Plan (provided, that the Participant is not permitted to participate
in multiple Offerings at the same time, unless otherwise determined by the Administrator), provided that as of the first day of the applicable Offering (the “Offering Date”) they are customarily employed by the Company or a
Designated Subsidiary for more than 20 hours a week. Notwithstanding any other provision herein, individuals who are not contemporaneously classified as employees of the Company or a Designated Subsidiary for purposes of the Company’s or
applicable Designated Subsidiary’s payroll system are not considered to be eligible employees of the Company or any Designated Subsidiary and shall not be eligible to participate in the Plan. In the event any such individuals are reclassified
as employees of the Company or a Designated Subsidiary for any purpose, including, without limitation, common law or statutory employees, by any action of any third party, including, without limitation, any government agency, or as a result of any
private lawsuit, action or administrative proceeding, such individuals shall, notwithstanding such reclassification, remain ineligible for participation. Notwithstanding the foregoing, the exclusive means for individuals who are not
contemporaneously classified as employees of the Company or a Designated Subsidiary on the Company’s or Designated Subsidiary’s payroll system to become eligible to participate in this Plan is through an amendment to this Plan, duly
executed by the Company, which specifically renders such individuals eligible to participate herein. 

4.        Participation. 

(a)        Participants in Offerings.   An eligible employee who is not a Participant
on any Offering Date may participate in such Offering by submitting an enrollment form to his or her appropriate payroll location at least one business day before the Offering Date (or by such other deadline as shall be established by the
Administrator for the Offering). 
 (b)        Enrollment.   The enrollment form
will (i) state a whole percentage to be deducted from an eligible employee’s Compensation (as defined in Section 11) per pay period, (ii) authorize the purchase of Common Stock in each Offering in accordance with the terms
of the Plan and (iii) specify the exact name or names in which shares of Common Stock purchased for such individual are to be issued pursuant to Section 10. An employee who does not enroll in accordance with these procedures will be deemed
to have waived the right to participate. Unless a Participant files a new enrollment form or withdraws from the Plan, such Participant’s deductions and purchases will continue at the same percentage of Compensation for future Offerings,
provided he or she remains eligible. 
 (c)        Notwithstanding the foregoing, participation in
the Plan will neither be permitted nor be denied contrary to the requirements of the Code. 

  
 2 













 5.        Employee Contributions.  
Each eligible employee may authorize payroll deductions at a minimum of one percent (1%) up to a maximum of fifteen percent (15%) of such employee’s Compensation for each pay period. The Company will maintain book accounts showing the
amount of payroll deductions made by each Participant for each Offering. No interest will accrue or be paid on payroll deductions. 

6.        Deduction Changes.   Except as may be determined by the Administrator in
advance of an Offering, a Participant may not increase his or her payroll deduction during any Purchase Period, but may increase his or her payroll deductions with respect to the next Purchase Period (subject to the limitations of Section 5) by
filing a new enrollment form at least one business day before the next Purchase Period (or by such other deadline as shall be established by the Administrator for the Offering). Except as may be determined by the Administrator in advance of an
Offering, a Participant may decrease his or her payroll deduction during a Purchase Period (subject to the limitations of Section 5) by filing a new enrollment form at least one business day before the next payroll period for which such
election is to be effective (or by such other deadline as shall be established by the Administrator for the Offering). A Participant may also increase or decrease his or her payroll deduction with respect to the next Offering (subject to the
limitations of Section 5) by filing a new enrollment form at least one business day before the next Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). The Administrator may, in advance of
any Offering, change or establish other rules with respect to a Participant’s ability to increase, decrease or terminate his or her payroll deduction during an Offering. 

7.        Withdrawal.   A Participant may withdraw from participation in the Plan by
delivering a written notice of withdrawal to his or her appropriate payroll location. The Participant’s withdrawal will be effective as of the next business day. Following a Participant’s withdrawal, the Company will promptly refund such
individual’s entire account balance under the Plan to him or her (after payment for any Common Stock purchased before the effective date of withdrawal). Partial withdrawals are not permitted. Such an employee may not begin participation again
during the remainder of the Offering, but may enroll in a subsequent Offering in accordance with Section 4. 

8.        Grant of Options.   On each Offering Date, the Company will grant to each
eligible employee who is then a Participant in the Plan an option (“Option”) to purchase on the last day of a Purchase Period (an “Exercise Date”), at the Option Price (as defined herein) for, the lowest of (a) a number of
shares of Common Stock determined by dividing such Participant’s accumulated payroll deductions on such Exercise Date by the Option Price (as defined herein), (b) two thousand five hundred (2,500) shares; or (c) such other lesser
maximum number of shares as shall have been established by the Administrator in advance of the Offering; provided, however, that such Option shall be subject to the limitations set forth below. Each Participant’s Option shall be
exercisable only to the extent of such Participant’s accumulated payroll deductions on the Exercise Date. The purchase price for each share purchased under each Option (the “Option Price”) will be eighty-five percent (85%) of the Fair
Market Value of the Common Stock on the Offering Date or the Exercise Date, whichever is less. 

  
 3 













 Notwithstanding the foregoing, no Participant may be granted an Option hereunder if such
Participant, immediately after the Option was granted, would be treated as owning stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or any Parent or Subsidiary (as
defined in Section 11). For purposes of the preceding sentence, the attribution rules of Section 424(d) of the Code shall apply in determining the stock ownership of a Participant, and all stock which the Participant has a contractual
right to purchase shall be treated as stock owned by the Participant. In addition, no Participant may be granted an Option which permits his or her rights to purchase stock under the Plan, and any other employee stock purchase plan of the Company
and its Parents and Subsidiaries, to accrue at a rate which exceeds $25,000 of the Fair Market Value of such stock (determined on the Option grant date or dates) for each calendar year in which the Option is outstanding at any time. The purpose of
the limitation in the preceding sentence is to comply with Section 423(b)(8) of the Code and shall be applied taking Options into account in the order in which they were granted. 

9.        Exercise of Option and Purchase of Shares.   Each employee who continues to
be a Participant in the Plan on an Exercise Date shall be deemed to have exercised his or her Option on such date and shall acquire from the Company such number of whole shares of Common Stock reserved for the purpose of the Plan as his or her
accumulated payroll deductions on such date will purchase at the Option Price, subject to any other limitations contained in the Plan. Any amount remaining in a Participant’s account after the purchase of shares on an Exercise Date of an
Offering solely by reason of the inability to purchase a fractional share will be carried forward to the next Purchase Period and, if such Exercise Date is the final Exercise Date of an Offering, will be carried forward to the next Offering; any
other balance remaining in a Participant’s account at the end of an Offering will be refunded to the Participant promptly. 
 If a
Participant has more than one Option outstanding under the Plan, unless he or she otherwise indicates in agreements or notices delivered hereunder: (i) each agreement or notice delivered by that Participant shall be deemed to apply to all of
his or her Options under the Plan, and (ii) an Option with a lower Option Price (or an earlier granted Option, if different Options have identical Option Prices) shall be exercised to the fullest possible extent before an Option with a higher
Option Price (or a later granted Option if different Options have identical Option Prices) shall be exercised. 

10.      Issuance of Certificates.   Certificates, or book entries for uncertificated shares,
representing shares of Common Stock purchased under the Plan may be issued only in the name of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or in the name of a broker
authorized by the employee to be his, her or their, nominee for such purpose. 
 11.      Definitions.

 The term “Compensation” means the amount of base pay, prior to salary reduction pursuant to Sections 125, 132(f) or 401(k)
of the Code, but excluding overtime, commissions, incentive or bonus awards, allowances and reimbursements for expenses such as relocation allowances or travel expenses, income or gains on the exercise of Company stock options, and similar
items. 

  
 4 













 The term “Designated Subsidiary” means any present or future Subsidiary (as
defined below) that has been designated by the Board to participate in the Plan. The Board may so designate any Subsidiary, or revoke any such designation, at any time and from time to time, either before or after the Plan is approved by the
stockholders. The current list of Designated Subsidiaries is attached hereto as Appendix A. 
 The term “Fair Market Value
of the Common Stock” on any given date means the fair market value of the Common Stock determined in good faith by the Administrator; provided, however, that if the Common Stock is admitted to quotation on the NASDAQ Capital
Market, the NASDAQ Global Market, the NASDAQ Global Select Market or another national securities exchange, the determination shall be made by reference to the closing price on such date. If there is no closing price for such date, the determination
shall be made by reference to the last date preceding such date for which there is a closing price. 
 The term “Parent” means a
“parent corporation” with respect to the Company, as defined in Section 424(e) of the Code. 
 The term
“Participant” means an individual who is eligible as determined in Section 3 and who has complied with the provisions of Section 4. 

The term “Purchase Period” means a period of time within an Offering, as may be specified by the Administrator in accordance with
Section 2, generally beginning on the Offering Date or the next day following an Exercise Date within an Offering, and ending on an Exercise Date. An Offering may consist of one or more Purchase Periods. 

The term “Subsidiary” means a “subsidiary corporation” with respect to the Company, as defined in Section 424(f) of
the Code. 
 12.      Rights on Termination of Employment.   If a Participant’s
employment terminates for any reason before the Exercise Date for any Offering, no payroll deduction will be taken from any pay due and owing to the Participant and the balance in the Participant’s account will be paid to such Participant or,
in the case of such Participant’s death, to his or her designated beneficiary as if such Participant had withdrawn from the Plan under Section 7. An employee will be deemed to have terminated employment, for this purpose, if the
corporation that employs him or her, having been a Designated Subsidiary, ceases to be a Subsidiary, or if the employee is transferred to any corporation other than the Company or a Designated Subsidiary. An employee will not be deemed to have
terminated employment for this purpose, if the employee is on an approved leave of absence for military service or sickness or for any other purpose approved by the Company, if the employee’s right to reemployment is guaranteed either by a
statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise provides in writing. 

13.      Special Rules.   Notwithstanding anything herein to the contrary, the Administrator
may adopt special rules applicable to the employees of a particular Designated Subsidiary, whenever the Administrator determines that such rules are necessary or appropriate for the implementation of the Plan in a jurisdiction where such Designated
Subsidiary has employees; provided that such rules are consistent with the requirements of Section 423(b) of the Code. Any special rules established pursuant to this Section 13 shall, to the extent possible, result in the employees subject
to such rules having substantially the same rights as other Participants in the Plan. 

  
 5 













 14.      Optionees Not Stockholders.  
Neither the granting of an Option to a Participant nor the deductions from his or her pay shall constitute such Participant a holder of the shares of Common Stock covered by an Option under the Plan until such shares have been purchased by and
issued to him or her. 
 15.      Rights Not Transferable.   Rights under the Plan are
not transferable by a Participant other than by will or the laws of descent and distribution, and are exercisable during the Participant’s lifetime only by the Participant. 

16.      Application of Funds.   All funds received or held by the Company under the Plan may
be combined with other corporate funds and may be used for any corporate purpose. 

17.      Adjustment in Case of Changes Affecting Common Stock.   In the event of a subdivision
of outstanding shares of Common Stock, the payment of a dividend in Common Stock or any other change affecting the Common Stock, the number of shares approved for the Plan and the share limitation set forth in Section 8 shall be equitably or
proportionately adjusted to give proper effect to such event. 
 18.      Amendment of the
Plan.   The Board may at any time and from time to time amend the Plan in any respect, except that without the approval within 12 months of such Board action by the stockholders, no amendment shall be made increasing the number of
shares approved for the Plan or making any other change that would require stockholder approval in order for the Plan, as amended, to qualify as an “employee stock purchase plan” under Section 423(b) of the Code. 

19.      Insufficient Shares.   If the total number of shares of Common Stock that would
otherwise be purchased on any Exercise Date plus the number of shares purchased under previous Offerings under the Plan exceeds the maximum number of shares issuable under the Plan, the shares then available shall be apportioned among Participants
in proportion to the amount of payroll deductions accumulated on behalf of each Participant that would otherwise be used to purchase Common Stock on such Exercise Date. 

20.      Termination of the Plan.   The Plan may be terminated at any time by the Board. Upon
termination of the Plan, all amounts in the accounts of Participants shall be promptly refunded. 

21.      Governmental Regulations.   The Company’s obligation to sell and deliver Common
Stock under the Plan is subject to obtaining all governmental approvals required in connection with the authorization, issuance, or sale of such stock. 

22.      Governing Law.   This Plan and all Options and actions taken thereunder shall be
governed by, and construed in accordance with, the laws of the State of Delaware, applied without regard to conflict of law principles. 

  
 6 













 23.      Issuance of Shares.   Shares may be
issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source. 

24.      Tax Withholding.   Participation in the Plan is subject to any minimum required tax
withholding on income of the Participant in connection with the Plan. Each Participant agrees, by entering the Plan, that the Company and its Subsidiaries shall have the right to deduct any such taxes from any payment of any kind otherwise due to
the Participant, including shares issuable under the Plan. 
 25.      Notification Upon Sale of
Shares.   Each Participant agrees, by entering the Plan, to give the Company prompt notice of any disposition of shares purchased under the Plan where such disposition occurs within two years after the date of grant of the Option
pursuant to which such shares were purchased or within one year after the date such shares were purchased. 

26.      Effective Date.   The Amended and Restated 2015 Employee Stock Purchase Plan shall
become effective as of as of the date of approval by the Board. 
 DATE APPROVED BY BOARD OF DIRECTORS: July 23, 2015 

DATE APPROVED BY STOCKHOLDERS: July 27, 2015 
 DATE AMENDED
AND RESTATED AND APPROVED BY BOARD OF DIRECTORS: March 24, 2020 

  
 7 













 APPENDIX A 

Designated Subsidiaries 
 None. 

 

  
 8