Document:

EX-10.9

 Exhibit 10.9 
  

 
 700 Saginaw Drive, Suite 150 

Redwood City, CA 94063 
 February 9,
2016 
 Hans Hull 
 San Francisco, CA 94110 

EMAIL: 
 Re: Employment Offer 

Dear Hans, 
 Pliant Therapeutics, Inc. (“Pliant” or
the “Company”) is pleased to confirm its offer to employ you as Chief Business Officer. As Chief Business Officer, you will report to the Company’s Chief Executive Officer, Bernard Coulie. Your effective date of hire as a regular,
full time employee (the “Start Date”) will be on March 9, 2016 unless another date is agreed upon by you and the Company. 
 Your salary will
be paid at the rate of $325,000 per year, less payroll deductions and withholdings. You will be paid semi-monthly in accordance with the Company’s usual payroll. It is expected that, when an annual bonus program is approved by the Board of
Directors, you will be eligible for a target bonus at 25% of your annual compensation, based upon the achievement of corporate and individual goals, as agreed by the Board of Directors. You will be eligible to participate each year in any annual
bonus plan adopted by the Company and the Company, subject to financial, business, and other circumstances and factors. 
 You will be eligible for standard
Company benefits as they become implemented, including but not limited to health care insurance, vacation, sick leave, holidays, 401(k), performance-based bonus program, and additional performance-based stock grants. Until such time as a Company
health care insurance plan is established, the Company will reimburse you for premiums you pay for continuing benefits. Details about these benefit plans will be provided when they are available for your review. The Company may change compensation
and benefits from time to time in its discretion. 
 Subject to the approval by the Board of Directors of the Company (the “Board”), in connection
with the commencement of your employment, you will receive the right to purchase 927,000 shares of the Company’s common stock (the “Restricted Stock”). The Restricted Stock will be granted following the commencement of your
employment. The purchase price of the Restricted Stock will be equal to the fair market value of the Company’s common stock on the date of the grant, and the Board of Directors may elect to seek a third party valuation of such fair market

 

 
 Hans Hull 
 February 9,
2016 
  

 
value, which could delay the date that the Restricted Stock is granted. The Restricted Stock will be subject to the terms and conditions of the Company’s then-current inventive stock plan
and form of restricted stock agreement (the Equity Documents”). The Restricted Stock will vest as follows: one quarter of the shares will vest on the first anniversary of the Start Date, and following that, l/48th of the shares will vest on a monthly basis, in arrears. Vesting is contingent on your continued full-time employment with the Company. 

As a Company employee, you will be expected to abide by Company rules and policies. As a condition of employment, you must sign and comply with the attached
Employee Confidential Information and Inventions Assignment Agreement, which prohibits unauthorized use or disclosure of Company proprietary information, among other obligations. 

In your work for the Company, you will be expected not to use or disclose any confidential information, including trade secrets, of any former employer or
other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with training and experience comparable to your own, which is common knowledge in
the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. You agree that you will not bring onto Company premises any unpublished documents or property belonging to any former employer or
other person to whom you have an obligation of confidentiality. You hereby represent that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company. 

Normal business hours are from 8:00 a.m. to 5:00 p.m., Monday through Friday. As an exempt salaried employee, you will be expected to work additional hours as
required by the nature of your work assignments. Your employment with the Company will be “at will.” You may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise,
the Company may terminate your employment at any time, with or without cause or advance notice. Your employment at-will status can only be modified in a written agreement signed by you and by an officer of the
Company. 
 Notwithstanding the foregoing, if the Company terminates your employment without Cause (as defined below), and other than for death or
disability, then the Company will pay you severance (the “Severance”) in an amount equal to six (6) months of your base salary at the time of termination. Your eligibility to receive the Severance will be conditioned upon your
(i) signing and not revoking a release of any and all claims, in a form prescribed by the Company (the “Release”), and (ii) continued compliance with all legal and contractual obligations to the Company. The Severance will be
paid in a lump-sum, less deductions and withholdings, on the thirtieth (30th) day following your last day of employment, provided the Release has become
effective. “Cause” for termination of your employment shall exist if the Board determines, in its 

 

 
 Hans Hull 
 February 9,
2016 
  

 
reasonable, good faith judgment that you engaged in any of the following behavior: (i) any act of embezzlement, fraud, theft or misappropriation including without limitation with respect to
any asset or property of the Company; (ii) gross negligence, willful misconduct or material neglect of duties or breach of fiduciary duty to the Company; (iii) material failure to use good faith efforts to satisfactorily perform your
duties (which failure continues after you have been given notice by the Company) or to follow the reasonable and lawful directions of the Board; (iv) violation of federal or state securities laws as it relates to any of the Company’s
securities; (v) material breach of an employment, consulting or other agreement with the Company that the Company and you have entered into or any personnel policy of which you have been made aware after notice and opportunity to cure if such
breach is curable; or (vi) conviction of a felony, or any crime involving moral turpitude. 
 This offer is contingent upon satisfactory proof of your
right to work in the United States. You agree to assist as needed and to complete any documentation at the Company’s request to meet these conditions. 

This letter, together with your Employee Confidential Information and Inventions Assignment Agreement, forms the complete and exclusive statement of your
employment agreement with the Company. It supersedes any other agreements or promises made to you by anyone, whether oral or written. Changes in your employment terms, other than those changes expressly reserved to the Company’s discretion in
this letter, require a written modification signed by an officer of Company. 
 Please sign and date this letter, and the enclosed Employee Confidential
Information and Inventions Assignment Agreement and return them to Barbara Howes by close of business on February 12, 2016, if you wish to accept employment at the Company under the terms described above. 

We look forward to your favorable reply and to a productive and enjoyable work relationship. 

 

	
	Sincerely,
	
	/s/ Bernard Coulie
	 Bernard Coulie
 Chief Executive Officer,
Pliant Therapeutics, Inc.

 

 
 Hans Hull 
 February 9,
2016 
  

	
	Accepted:
	
	/s/ Hans Hull
	Hans Hull
	
	February 10, 2016
	Date

 Attachment: [Employee Confidential Information and Inventions Assignment Agreement]EX-10.10

 Exhibit 10.10 

 
 

 
 November 21, 2018 

Dear Keith: 
 Position. We are very
pleased to offer you the position of Chief Financial Officer of Pliant Therapeutics, Inc., a Delaware corporation (the “Company”), with an employment commencement date of not later than December 31, 2018. You will have
the normal duties, responsibilities and authority of an executive serving in the position of Chief Financial Officer, subject to the direction of and reporting to the Chief Executive Officer of the Company. You agree that you will devote your best
efforts and your full business time to the business and affairs of the Company and its subsidiaries, and you will be expected to be present during regular business hours. Your work location will be at the Company’s offices at 260 Littlefield
Avenue, South San Francisco, CA 94080. This is a full time exempt position. 
 Base Salary. We are offering you starting compensation
at the annual salary of $340,000 less applicable withholdings and deductions. Wages are paid semi-monthly in accordance with the Company’s normal payroll procedures. 

Annual Cash Incentive Bonus. Beginning with calendar year 2019, you will be eligible to earn an annual cash incentive bonus based upon
the achievement of annual performance goals or objectives established and measured by the Compensation Committee (the “Committee”) of the Company’s Board of Directors (the
“Board”) in its sole discretion. You will have a target annual incentive bonus opportunity equal to 30% of your annual base salary, payable in accordance with the Company’s annual cash incentive bonus
program, as may be amended from time to time (but in no event shall any actual bonus be paid later than March 15th of the calendar year immediately following the year for which such compensation is earned). Actual bonus awards may pay below or above
your target opportunity, including a zero payout, based on your and the Company’s achievement of the applicable performance goals or objectives. 

IPO/Private Financing Bonus. Subject to your commencement of employment with the Company on or prior to December 31, 2018, you
will be eligible to receive a performance-based bonus equal to $250,000 (less applicable withholdings and deductions) based on the successful completion of an initial public offering of the Company on The NASDAQ (“IPO”) or, a
Series C preferred stock financing at a valuation and in an aggregate amount to be established by the Board in its sole discretion (a “Private Financing”), in each case which has closed before the one (1) anniversary of
your employment commencement date; provided, however, that in lieu of a Private Financing, at the determination of the Board in its sole discretion, such bonus may be payable upon the consummation of a collaboration agreement in which the Company
receives a significant non-dilutive, non-refundable, non-creditable up-front payment. The
bonus payable pursuant to this 

  
 

 

 
paragraph will be paid as soon as practicable following the completion of the IPO, Private Financing, or collaboration, as applicable (but in any event no later than the March 15th of the
calendar year immediately following the year in which the IPO, Private Financing, or collaboration closes and the compensation is deemed earned for tax purposes). 

Sign-On Cash Bonus. Subject to your commencement of employment with the Company on or prior to
December 31, 2018, you will receive a sign-on bonus equal to $100,000 (“Sign-On Bonus”) less applicable withholdings and
deductions. The Sign-On Bonus will be paid to you within 30 days following your commencement of employment with the Company. Notwithstanding anything herein to the contrary, if the Company terminates your
employment for cause or you resign from the Company for any reason, in each case, prior to the one-year anniversary of your employment commencement dale, you will repay to the Company the Sign-On Bonus within ten (10) days of your termination of employment; provided, further, to the extent permitted by applicable law and in accordance with Section 409A of the Internal Revenue Code of 1986,
as amended (the “Code”), if you are required to repay the Sign-On Bonus, then the Company will be entitled to offset the required repayment amount against any compensation or other
amounts due from the Company to you. 
 For the purpose of this letter, “cause” means that the Board has determined,
in its reasonable good faith judgment, that you have engaged in any of the following: (i) any act of embezzlement, fraud, theft or misappropriation including without limitation with respect to any asset or property of the Company;
(ii) gross negligence, willful misconduct or material neglect of duties or breach of fiduciary duty to the Company; (iii) material failure to use good faith efforts to satisfactorily perform your duties (which failure continues after you
have been given notice by the Company) or to follow the reasonable and lawful directions of the Board; (iv) violation of federal or state securities laws as it relates to any of the Company’s securities; (v) material breach of an
employment, consulting or other agreement with the Company that the Company and you have entered into or any personnel policy of which you have been made aware after notice and opportunity to cure if such breach is curable; or (vi) conviction
of a felony, or any crime involving moral turpitude. 
 Incentive Compensation. In addition, if you decide to join the Company, it
will be recommended at the first meeting of the Board following the commencement of your employment that the Company grant you an option to purchase shares of the Company’s Common Stock representing approximately 1.25% of the outstanding shares
of Company Common Stock as of the date hereof, calculated assuming the conversion and/or exercise of all outstanding securities directly or indirectly convertible and/or exercisable into shares of Company Common Stock and all shares of Company
Common Stock then available for issuance under the Company’s 2015 Equity Incentive Plan and at a price per share equal to the fair market value per share of such Common Stock on the date of grant, as determined by the Board (the
“Option”). Twenty-five percent (25%) of the shares subject to the Option on the date of grant shall vest on the one-year anniversary of the commencement date of your
employment (the “Vesting Commencement Date”), and l/48th of the shares subject to the Option on the date of grant shall vest each month thereafter on the same
day of the month as the Vesting Commencement Date (or if there is no corresponding day, on the last day of such month), subject to your continuing to be an employee of the Company through each such date. Your Option shall be subject to the terms and
conditions of the Company’s 2015 Equity Incentive Plan and form of Stock Option Agreement, including 

 
vesting requirements. No right to any stock is earned or accrued until such time that Company Common Stock is delivered to you upon the exercise of the Option, nor does the Option confer any
right to continue vesting or employment. 
 Severance. In the event your employment is terminated by the Company without cause, you
will be eligible to receive 12 months of base salary continuation following your termination of employment, subject to your execution and non-revocation of a customary release of claims in favor of the Company
within 52 days following your termination of employment (or such shorter period of time as provided for in the release of claims). This severance shall be paid in accordance with the Company’s normal payroll schedule, subject to any delay in
payment required under Section 409A of the Code. 
 Employee Benefits. You will be eligible to participate in the Company’s
standard employee benefits including medical, dental, life, 401(k), accidental life and dismemberment, and disability benefits, as in effect from time-to-time. Certain
participation costs for our employee benefit programs are borne by our employees. Participation in our employee benefit programs is subject to the terms of the underlying plans and requirements established by the group insurance carriers. The
Company reserves the right to discontinue or amend its employee benefits, including group insurance programs, from time to time in its sole discretion. Participation in any benefit program is not to be regarded as assurance of continued employment
for any particular period of time. 
 No conflicts. By signing below, you agree that there is no lawful reason to prevent you from
accepting a position with the Company. We also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit
the manner in which you may be employed by the Company. It is the Company’s understanding that any such agreements will not prevent you from performing the duties of your position with the Company, and you represent that such is the case. 

Company Policies. As a Company employee, you will be expected to abide by the Company’s rules and policies which may change from
time to time in accordance with applicable laws. Such policies may include, without limitation, stock ownership guidelines, clawback policies, insider trading policies and policies regarding hedging or pledging of Company Common Stock. 

Confidential Information/Nondisclosure/Nonsolicitation of Employees. As a condition of your employment with the Company. you will be
required to sign the Company’s Confidential Information and Invention Assignment Agreement, a copy of which is enclosed (the “Confidentiality Agreement”). For the avoidance of doubt, nothing contained in this letter or
the Confidentiality Agreement limits your ability to report possible violations of law or regulation to, or file a charge or complaint with any federal, state or local governmental agency or commission (“Government
Agencies”). Further, nothing in this letter or the Confidentiality Agreement shall limit your ability under applicable law to (i) disclose in confidence trade secrets to federal, state, and local government officials, or to an
attorney, for the sole purpose of reporting or investigating a suspected violation of law, (ii) disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public
disclosure or (iii) 

 
communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other
information, without notice to the Company. 
 Dispute Resolution Arbitration. As a condition of your employment, you must sign the
enclosed Mutual Arbitration Agreement which you should carefully review. Also enclosed are the related JAMS Rules. 
 At-Will Employment. Your employment is at will, which means that either you or the Company can terminate your employment with the Company at any time with or without notice and with or without cause. Nothing in
this letter or the Offer Package Documents (as defined below) shall be construed to alter the at-will nature of your employment relationship with the Company. In addition, nothing in this letter prohibits the
Company from terminating or modifying any of its compensation or benefits programs at any time. 
 Conditions to Employment. The
Company reserves the right to conduct background investigations and reference checks on all of its potential employees. Your job offer, therefore, is contingent upon a clearance of such background investigations and reference checks. For purposes of
federal immigration law, you are required, as a condition of employment, to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. 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. 
 Severability. Should any
provision contained in this letter be held as invalid, illegal or unenforceable, such holding shall not affect the validity of the remainder of this letter, the balance of which shall continue to be binding upon the parties with any such
modification to become a part hereof and treated as though originally set forth herein. 
 Enclosures. The Confidentiality Agreement,
the Mutual Arbitration Agreement and the Background Check Consent Form are collectively referred to as the “Offer Package Documents.” 

Acceptance of Offer. To accept the Company’s offer of employment, please sign and date this letter in the space provided below and
return it to me no later than the date specified below along with the Offer Package Documents. A duplicate original of this letter is enclosed for your records. 

Entire Agreement. This letter, along with the Offer Package Documents, sets forth the terms of your employment with the Company and
supersedes any prior representations or agreements including, but not limited to, any representations made during your recruitment, interviews or pre-employment negotiations, whether written or oral. This
letter, including, but not limited to, its at-will employment provision, may not be modified or amended except by a written agreement signed by you and the Company’s Chief Executive Officer. This offer of
employment will terminate if it is not accepted, signed and returned by November 30, 2018. 
 Section 409A of the
Code. The payments provided hereunder are intended to meet the requirements of Section 409A of the Code, and shall be interpreted and construed consistent with that intent. The payments hereunder are also intended to be exempt from
Section 409A of the Code to the maximum extent possible, under either the separation pay exemption pursuant to Treasury 

 
regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation
§1.409A-1(b)(4), and each payment hereunder is designated as a separate payment for such purposes. Notwithstanding any other provision hereof, to the extent any payments (including the provision of
benefits) hereunder constitute “nonqualified deferred compensation,” within the meaning of Section 409A of the Code, the payment shall be paid (or provided) in accordance with the following: (i) if you are a “specified
employee” within the meaning of Section 409A of the Code on your termination date, then no such payment shall be made during the period beginning on the termination date and ending on the date that is six months following the termination
date or, if earlier, on the date of your death, if the earlier making of such payment would result in tax penalties being imposed on you under Section 409A of the Code and (ii) if the period during which you may execute a release of claims
in order to receive severance hereunder commences in one calendar year and ends in a subsequent calendar year, such severance will be paid or provided in the subsequent calendar year in accordance with Section 409A of the Code. 

We look forward to your favorable reply and to working with you. 

 

	
	Sincerely,
	
	/s/ Bernard Coulie
	 Bernard Coulie, M.D., Ph.D.
 President and
Chief Executive Officer

  

			
	Agreed to and accepted:
		
	Signature:	 	/s/ Keith Cummings

			
		
	Printed Name:	 	Keith Cummings

			
		
	Date:	 	November 29, 2018

 Enclosures: Duplicate Letter; Confidential Information and Invention Assignment Agreement; Mutual Arbitration
Agreement; JAMS Rules; Background Check Consent Form

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