Document:

EX-10.12

 Exhibit 10.12 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made as of this 26th day of February, 2010, by and
between Aduro BioTech, a California corporation (the “Company”), and Stephen T. Isaacs (“Executive”) (collectively, the “Parties”). 

WHEREAS, the Parties have each signed a letter for an offer of employment dated February 12, 2007 (“Former
Offer”); 
 WHEREAS, the Parties wish that this Agreement supersede and completely replace the Former Offer; 

WHEREAS, the Company wishes to employ Executive and to assure itself of the continued services of Executive on the terms set
forth herein; and 
 WHEREAS, Executive wishes to be so employed under the terms set forth herein. 

NOW, THEREFORE, in consideration of the promises, mutual covenants, the above recitals, and the agreements herein set forth,
and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties agree to the following terms and conditions of the Executive’s employment: 

1. EMPLOYMENT. The Company hereby agrees to employ Executive as President and Chief Executive Officer and
Executive hereby accepts such employment upon the terms and conditions set forth herein. Executive’s employment, as provided herein, shall commence on February 26, 2010 (“Effective Date”) and shall continue until
terminated pursuant to the provisions of paragraph 9 (“Term”). 
 2. AT-WILL
EMPLOYMENT. It is understood and agreed by the Company and Executive that this Agreement does not contain any promise or representation concerning the duration of Executive’s employment with the Company. Executive specifically acknowledges
that his employment with the Company is at-will and may be altered or terminated by either Executive or the Company at any time for any lawful reason, with or without cause and/or with or without advance notice, subject to paragraph 9. 

3. POLICIES AND PROCEDURES. Executive agrees that he is subject to and will comply with the policies and
procedures of the Company, as such policies and procedures may be modified, added to or eliminated from time to time at the sole discretion of the Company, except to the extent any such policy or procedure specifically conflicts with the express
terms of this Agreement. 
 4. COMPENSATION. For all services rendered and to be rendered hereunder,
the Company agrees to pay to the Executive, and the Executive agrees to accept a salary of $27,083.33 per month ($325,000.00 annualized). Any such salary shall be payable in monthly installments, or more frequently, and shall be subject to such
deductions or withholdings as the Company is required to make pursuant to law, or by further agreement with the Executive. The Executive acknowledges that he has received all compensation due him from the Company for periods prior to the Effective
Date. 
 5. BONUS PROGRAM PARTICIPATION. Executive shall be eligible to participate in any annual or
quarterly bonus plan(s) that may be established by the 

  
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Company for the Executive or the Company’s executive team or employees generally. The prerequisites for Executive’s earning of any such bonus, and the amount of any bonus that may
be awarded, shall be determined by the terms and conditions of the applicable bonus plan(s). 
 6. STOCK
OPTIONS. As soon as reasonably practicable after the date of this Agreement, Executive shall be granted options to purchase up to 440,829 shares of the common stock of the Company. One-half of these options will be vested on the date of grant,
and the remaining one-half of the options will vest in equal monthly installments over forty-eight (48) months commencing with the first month after the date of grant. The exercise price of the options that are vested on the date of grant will
be the fair market value of the common stock of the Company on the date of grant (the “Grant Date FMV”) as determined by the Board of Directors of the Company. The exercise prices of the options that vest after the date of grant are as
follows: options that vest in the first year after the date of grant shall the Grant Date FMV; options that vest in the second year after the date of grant shall be twice the Grant Date FMV; options that vest in the third year after the date of
grant shall be three times the Grant Date FMV; and, options that vest in the fourth year after the date of grant shall be four times the Grant Date FMV. To the maximum extent possible, the options will be incentive stock options as such term is
defined in Section 422 of the Internal Revenue Code of 1986, as amended (“Code”). To the extent that any portion of the options do not qualify as incentive stock options under Section 422 of the Code, that portion of the options
will be treated as non-statutory stock options. The options will be granted under the Company’s Stock Incentive Plan (the “Plan”) and will be subject to the terms of a stock option agreement providing for the options which will
control in the event of a conflict between its terms and the provisions of this Agreement. 
 7. OTHER
BENEFITS. While employed by the Company as provided herein: 
 a. Executive Benefits. Executive shall be entitled
to all benefits to which other executive officers of the Company are entitled, on terms comparable thereto, including, without limitation, participation in pension and profit sharing plans, 401(k) plan, group insurance policies and plans, medical,
health, vision, and disability insurance policies and plans, and the like, which may be maintained by the Company for the benefit of its executives. 

b. Expense Reimbursement. The Executive shall receive, against presentation of proper receipts and vouchers,
reimbursement for direct and reasonable out-of-pocket expenses incurred by him in connection with the performance of his duties hereunder, according to the policies of the Company. The Company shall reimburse the Executive for the cost of
professionals retained by him with respect to the review of this Agreement and other terms of his employment, upon the presentation of documentation for such expenses, subject to a maximum aggregate reimbursement of $15,000. 

c. Vacation. The Executive shall be entitled to four (4) weeks of vacation per year, provided however, that
whenever Executive has accrued six (6) weeks of unused vacation, Executive will accrue no more vacation until Executive’s accrued vacation has been reduced below six (6) weeks as a result of the Executive’s having taken a
vacation. 

  
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 8. PROPRIETARY INFORMATION AND OTHER OBLIGATIONS. 

a. Executive acknowledges that signing and complying with the Proprietary Information, and Inventions Agreement
(“Confidentiality Agreement”) is a condition of his employment by the Company. 
 b. During the period of
Executive’s employment with the Company and for two years after the date of termination of such employment, Executive will not induce, solicit, recruit or encourage any employee of the Company to leave the employ of the Company, which means
that Executive will not: (i) disclose to any person, entity or employer the names, backgrounds or qualifications of any Company employees or otherwise identify them as potential candidates for employment; or (ii) personally or through any
other person approach, recruit, interview or otherwise solicit Company employees to work for Executive or any other person, entity, or employer during their employment or for two months after a Company employee terminates employment with the
Company. 
 c. During the period of Executive’s employment with the Company and thereafter, Executive will not solicit,
either on behalf of Executive or any other person or entity, the business of any client or customer of the Company, whether past, present or prospective, using any trade secrets of the Company. 

9. TERMINATION. Executive and the Company each acknowledge that either party has the right to terminate
Executive’s employment with the Company at any time for any reason whatsoever, with or without cause or advance notice pursuant to the following: 

a. Termination by Death. Subject to applicable state or federal law, in the event Executive shall die during the period
of his employment hereunder, Executive’s employment and the Company’s obligation to make payments hereunder shall cease on the date of his death, and the Company shall have no obligation to make any payments to the estate of Executive
except as provided in this paragraph 9(a). The Company shall pay to the estate of Executive any salary earned but unpaid prior to the date of death, any and all accrued but unused vacation, and any business expenses referred to in paragraph 7(b)
that were incurred but not reimbursed as of the date of death and for which appropriate documentation as required be paragraph 7(b) has been submitted to the Company. If, prior to the date of his death, Executive had earned the right to receive any
bonus hereunder, the Company shall pay such bonus to the estate of Executive. 
 b. Voluntary Resignation by
Executive. In the event the Executive voluntarily terminates his employment with the Company (other than for Good Reason as defined below), the Company’s obligation to make payments hereunder shall cease upon such termination, and the
Company shall have no obligation to make any payments to Executive except as provided in this paragraph 9(b). The Company shall pay Executive: (1) on the date of termination, any salary earned but unpaid prior to termination and all
accrued but unused vacation, and (2) within 90 days of termination, any business expenses referred to in paragraph 7(b) that were incurred but not reimbursed as of the date of termination. Executive must submit appropriate documentation as
required by paragraph 7(b) for any business expenses that were incurred prior to termination within such 90-day period, or Executive will forfeit his right to reimbursement for those expenses. If, prior to

  
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the date of termination, Executive had earned the right to any bonus hereunder, the Company shall pay Executive such bonus on or before the date on which it would have been payable had the
termination not occurred. 
 c. Termination for Just Cause or Permanent Disability. In the event the
Executive is terminated by the Company for Just Cause or upon Permanent Disability (as those terms are defined below), the Company’s obligation to make payments hereunder shall cease upon such termination, and the Company shall have no
obligation to make any payments to Executive except as provided in this paragraph 9(c). The Company shall pay Executive (1) on the date of termination, pay Executive any salary earned but unpaid prior to termination and all accrued but unused
vacation and (2) within 90 days of termination, any business expenses referred to in paragraph 7(b) that were incurred but not reimbursed as of the date of termination. Executive must submit appropriate documentation as required be paragraph
7(b) for any business expenses that were incurred prior to termination within such 90-day period, or Executive will forfeit his right to reimbursement for those expenses. If, prior to the date of termination, Executive had earned the right to
receive any bonus hereunder, the Company shall pay Executive such bonus on or before the date on which it would have been payable had the termination not occurred. During the sixty (60) day period beginning on the first anniversary of the
Effective Date, the Company’s Board of Directors will review the financial condition and prospects of the Company in order to determine whether or not it would be financially prudent for the Company to offer to modify this Agreement to make a
termination for Permanent Disability subject to Section 9(d) of this Agreement rather than this Section 9(c) so that a Severance Payment, as defined in Section 9(d), would be payable in the event of a termination of the employment of
the Executive based on Permanent Disability. 
 d. Termination by the Company without Just Cause. Company will have
the unilateral right to terminate Executive’s employment with Company at any time without Just Cause. In the event Executive is terminated without Just Cause other than upon Permanent Disability or resigns for Good Reason (as defined below),
the Company’s obligation to make payments hereunder shall cease upon the resulting termination of Executive’s employment, and the Company shall have no obligation to make any payments to Executive except as provided in this paragraph 9(d).
The Company shall pay Executive (1) on the date of termination, any salary earned but unpaid prior to termination and all accrued but unused vacation and (2) within 90 days of termination, any business expenses referred to in paragraph
7(b) that were incurred but not reimbursed as of the date of termination. Executive must submit appropriate documentation as required by paragraph 7(b) for any business expenses that were incurred prior to termination within such 90-day period or
Executive will forfeit his right to reimbursement for those expenses. If, prior to the date of termination, Executive had earned the right to receive any bonus hereunder, the Company shall pay Executive such bonus on or before the date on which it
would have been payable had the termination not occurred. In addition, upon the execution of a full general release by Executive (“Release”), releasing all claims known or unknown that Executive may have against Company as of the
date Executive signs such release, and upon the written acknowledgment of his continuing obligations under paragraphs 8(b), 8(c) and 12(e) and under the Confidentiality Agreement, Executive shall be entitled to the following severance benefits:
(1) the Company shall pay to Executive one year of Executive’s base salary as of the date of the termination, less standard deductions and 

  
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withholdings (“Severance Payment”); (2) the Company shall pay directly to the insurance carrier(s) all applicable COBRA payments for a maximum period of 12 months (which
will be less, if Executive ceases to be eligible for COBRA coverage before the end of such 12-month period) for Executive and any dependents to continue his/their health, dental and/or vision insurance; provided that the Company’s obligation to
make such payments will cease if and when Executive becomes eligible to receive equivalent benefits from a new employer; and (3) immediate and full acceleration of the vesting of any and all =vested stock options. The Severance Payment shall be
made in a lump-sum payment on the second month anniversary of the Executive’s separation from service; provided that the Executive’s Release is effective (and not revocable) at such time. If the Release is not effective and non-revocable by the end of such 2 month period, then the Executive will forfeit the right to these benefits. Any COBRA payment due under this Agreement shall be made directly to the insurance carrier(s) in monthly
installments for a maximum period of 12 months commencing on the second month anniversary of the Executive’s termination; provided that the Executive’s Release is effective (and non-revocable) at such time. 

i. Definition of Just Cause. For purposes of this Agreement, “Just Cause” shall mean:
(i) Executive’s conviction of any felony or of any crime involving moral turpitude (including a no contest or guilty plea); (ii) Executive’s participation in any fraud or act of dishonesty against the Company;
(iii) Executive’s willful and material (a) breach of his duties to the Company, (b) insubordination, or (c) misconduct, as determined by the Board and which has not been cured within 60 days after written notice from the
Company or the Board describing such willful and material breach of duties, insubordination, or misconduct; (iv) Executive’s intentional and material damage or willful misappropriation of any property of the Company;
(v) Executive’s material breach of any written agreement with the Company (including, but not limited to, this Agreement); or (vi) a final determination by the Board of Directors makes to liquidate or dissolve the Company or effect a
transaction involving a Change in Control, as defined below, if the proceeds to the shareholders of the Company in such liquidation, dissolution or Change in Control will be insufficient to cover the aggregate liquidation preference of the
outstanding preferred stock of the Company. 
 ii. Definition of Permanent Disability. For purposes of this
Agreement, “Permanent Disability” shall mean Executive’s inability, as determined by the Board of Directors with the advice of a medical professional selected by it, to perform the essential functions of the Executive’s position
as an employee of the Company, even with reasonable accommodation, due to a physical or mental illness or injury which lasts for, or is reasonably expected to last for, (i) 120 consecutive days, (ii) 180 days in any 12-month period,
whether or not consecutive or (iii) 360 days in any 36-month period, whether or not consecutive. 
 iii. Definition
of Good Reason. For purposes of this Agreement, “Good Reason” shall mean: (i) reduction of your base salary set forth in paragraph 4 above by more than ten percent (10%) without your written consent; (ii) material
reduction in the package of benefits and incentives (including your bonus) described above; (iii) a material reduction in the scope of your duties and responsibilities as President & CEO (including, no longer reporting to or receiving
assignments from the Board of Directors); (iv) any material breach by the Company of its obligations under this 

  
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Agreement (or any other agreement between you and the Company); (v) a relocation of your principal place of employment (currently, Berkeley, California) to a new work site requiring an
increase in one-way commute from your current residence of more than thirty (30) miles; or (vi) except in the case of your Permanent Disability, either (x) your involuntary removal from the Board of Directors or (y) your ceasing
to be a director of the Company following an election of directors with respect to which a list of recommended nominees is presented to the shareholders by the Board of Directors which list does not include you (except when you have consented to
such exclusion). 
 10. CHANGE IN CONTROL. Upon the occurrence of a Change in Control, as defined below,
Executive shall be entitled to immediate and full acceleration of the vesting of any and all unvested stock options. For purposes of this Agreement, “Change of Control” shall mean: either of the following: 

a. the Company shall consummate a reorganization, merger, consolidation or any other transaction, in any case, with respect to
which persons who were shareholders of the Company immediately prior to such reorganization, merger or consolidation do not immediately thereafter, own equity interests representing at least fifty-one percent (51%) of the total combined voting
power of the Company or the resulting reorganized, merged or consolidate entity, as applicable; or 
 b. the sale, lease,
transfer or other disposition of all or substantially all of the assets of the company (other than to one or more direct or indirect wholly-owned subsidiaries of the Company. 

11. 409A SAVINGS CLAUSE. The parties intend that payments or benefits payable under this Agreement not be
subject to the additional tax imposed pursuant to Section 409A of the Code (“Section 409A”), and the provisions of this Agreement shall be construed and administered in accordance with such intent. To the extent such potential
payments or benefits could become subject to Section 409A, the parties shall cooperate to amend this Agreement with the goal of giving Executive the economic benefits described herein in a manner that does not result in such tax being imposed.
If the parties are unable to agree on a mutually acceptable amendment, the Company may, without Executive’s consent and in such manner as it deems appropriate or desirable, amend or modify this Agreement or delay the payment of any amounts
hereunder to the minimum extent necessary to meet the requirements of Section 409A. 
 12. MISCELLANEOUS. 

a. Modification/Waiver/Severable. This Agreement may not be amended, modified, superseded, canceled, renewed or
expanded, or any terms or covenants hereof waived, except by a writing executed by each of the Parties hereto or, in the case of a waiver, by the party waiving compliance. Failure of any party at any time or times to require performance of any
provision hereof shall in no manner affect his or its right at a later time to enforce the same. No waiver by a party of a breach of any term or covenant contained in this Agreement, whether by conduct or otherwise, in any one or more instances
shall be deemed to be or construed as a further or continuing waiver of agreement contained in the Agreement. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or
applications of the 

  
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Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. 

b. Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of any successor or
assignee of the business of the Company. This Agreement shall not be assignable by the Executive. 
 c. Notices. All
notices given hereunder shall be given by certified mail, addressed, or delivered by hand, to the other party at his or its address as set forth herein, or at any other address hereafter furnished by notice given in like manner. Executive promptly
shall notify Company of any change in Executive’s address. Each notice shall be dated the date of its mailing or delivery and shall be deemed given, delivered or completed on such date. 

d. Governing Law. This Agreement and all disputes relating to this Agreement shall be governed in all respects by the
laws of the State of California as such laws are applied to agreements between California residents entered into and performed entirely in California. 

e. Arbitration. Any disputes or controversy arising out of or in connection with Executive’s employment or this
Agreement, including but not limited to claims of harassment, discrimination, or wrongful termination, shall be settled by binding arbitration under the Employment Arbitration Rules set forth by the American Arbitration Association and any
California state laws governing arbitration proceedings such as California Code of Civil Procedure Sections 1280 et. seq. 

f. Entire Agreement. This Agreement, together with the Confidentiality Agreement and applicable stock plans, set forth
the entire agreement and understanding of the Parties hereto with regard to the employment of the Executive by the Company and supersede the Former Offer and any and all prior agreements, arrangements and understandings, written or oral, pertaining
to the subject matter hereof. No representation, promise or inducement relating to the subject matter hereof has been made to a party that is not embodied in these Agreements, and no party shall be bound by or liable for any alleged representation,
promise or inducement not so set forth. 
 IN WITNESS WHEREOF, the Parties have each duly executed this Agreement as of the day and
year first above written. 
  

			
	 ADURO BIOTECH, A CALIFORNIA CORPORATION

		
	 By:
	 	 /s/ S. David Model

	 Its:
	 	 S. David Model

		 	 Chief Financial Officer

	
	 EXECUTIVE:

	
	 /s/ Stephen T. Isaacs

	 Stephen T. Isaacs

  
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 ADURO BIOTECH 

PERFORMANCE BONUS PLAN 

Effective January 1, 2010 

1. Purpose. The purpose of the Aduro BioTech (the “Company”) Performance Bonus Plan (the
“Plan”) is to compensate Stephen T. Issacs (the “Executive”) for achieving specified company financial goals as outlined in this Plan. 

2. Definitions. As used in the Plan, the following terms shall have the meanings set forth below: 

 

	 	 (a)
	 “Administrator” shall mean the Company’s Board of Directors or its delegate. 

 

	 	 (b)
	 “Bonus” shall mean the dollar amount payable to Executive under Section 4 of the Plan. 

 

	 	 (c)
	 “Bonus Pool” shall mean $150,000 and is the total possible maximum aggregate amount payable to the Executive under the Plan.

  

	 	 (d)
	 “Code” shall mean the Internal Revenue Code of 1986, as amended, and any regulations adopted thereunder. 

 

	 	 (e)
	 “Gross-Up Payment” shall mean a payment to reimburse the Executive in an amount equal to all of the federal, state, or local taxes
imposed upon the Executive as a result of a Bonus payment in shares of the Company’s common stock, including the amount of additional taxes imposed upon the Executive due to the Company’s payment of the initial taxes on such Bonus.

  

	 	 (f)
	 “Plan Year” shall mean a calendar year beginning January 1 and ending December 31. 

3. Plan Participation and Administration. 
  

	 	 (a)
	 The Administrator shall have full power and authority to construe, interpret and administer the Plan. All decisions of the Administrator shall be
final, conclusive and binding upon all parties. The Administrator may delegate it duties in administering the Plan to any officer or manager of the Company. 

  

	 	 (b)
	 The expense of the administration of the Plan shall be borne by Company. 

  
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 4. Bonuses. 

 

	 	 (a)
	 Entire Bonus Pool Payment. In the event the Company receives cash after the date of the Plan in the amount of $3,000,000 or more with
respect to one or more new equity investments approved by the Board of Directors and not made pursuant to investor commitments made prior to the date of the Plan, and the Executive is employed by the Company at the time the cash is received by the
Company, the Executive will be entitled to a Bonus in the amount of the entire Bonus Pool. This Bonus shall be payable to Executive within thirty (30) days after the receipt of the cash investment by the Company, and such Bonus payment shall be
paid in full satisfaction of the Company’s obligations under this Plan. 

  

	 	 (b)
	 Pro Rata Bonus Pool Payment. In the event the Company receives cash after the date of the Plan in the amount of $2,000,000 or more but less
than $3,000,000 with respect to one or more new equity investments approved by the Board of Directors and not made pursuant to investor commitments made prior to the date of the Plan, and the Executive is employed by the Company at the time the cash
is received by Company, the Executive will be entitled to a Bonus payment calculated by multiplying the Bonus Pool by a fraction with $3,000,000 as the denominator and with the excess of the dollar amount of the cash received over $2,000,000 as the
numerator. This pro rata Bonus payment shall be payable to Executive within thirty (30) days after the receipt of the cash investment by the Company. In the event the Executive is paid a pro rata Bonus, if the Company receives additional cash
with respect to an equity investment approved by the Board of Directors and not made pursuant to investor commitments made prior to the date of the Plan and the Executive is employed by the Company at the time the cash is received by Company, the
Executive shall receive an additional portion of the Bonus in an amount calculated by multiplying the Bonus Pool by a fraction with $3,000,000 as the denominator and with the amount of additional cash received as the numerator; provided, however,
that in no event will the aggregate amount payable to the Executive under this Plan exceed the Bonus Pool. 

  

	 	 (c)
	 Election to Be Paid in Stock. If the Executive provides the Company with a written election prior to the close of an investment financing
agreement that results in a Bonus being paid under this Plan, the Executive may elect to be paid the Bonus by receiving shares of the Company’s common stock with a fair market value equal to the Bonus payment on the date of closing of the
investment financing agreement; provided, however, that the Executive must agree to enter into any shareholder or other stock purchase agreement required to be entered 

  
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into by similar shareholders or as required by the investors under the applicable financing agreement and that in the opinion of counsel for the Company the transfer of the shares to the
Executive complies with or is exemption from the registration, qualification or other requirements or restrictions under applicable federal and state securities laws. The fair market value of the stock shall be determined in good faith by the Board
of Directors of the Company. 

  

	 	 (d)
	 Tax Gross-Up Payment. In the event the Executive elects to be paid all or any portion of a Bonus in shares of the Company’s common
stock, the Company shall pay a Gross Up Payment to Executive with respect to the Bonus payment made in shares. 

5. Miscellaneous. 
  

	 	 (a)
	 No Assignment. No portion of any Bonus may be assigned or transferred otherwise than by will or the laws of descent and distribution prior
to the payment thereof. This prohibition shall not apply to the creation, assignment or recognition of a right to any interest payable hereunder with respect to a Executive pursuant to a domestic relations order that satisfies the requirements under
Section 414(p) of the Internal Revenue Code of 1986, as amended, (the Code”). Payment pursuant to such domestic relations order may be made as soon as administratively feasible following determination by the Administrator, in its sole
discretion, that said order satisfies the requirements for a valid domestic relations order that is consistent with the terms and payment provided under the Plan. 

 

	 	 (b)
	 Tax Requirements. All payments made pursuant to the Plan shall be subject to all applicable taxes required by U.S. federal, state or local
law to be withheld, in accordance with the procedures established by Company. Company does not guarantee or warrant the tax consequences of the Plan and the Executive shall in all cases be liable for any taxes due with respect to the Plan.

  

	 	 (c)
	 No Additional Employee Rights. The selection of an employee for participation in the Plan shall not give such Executive any right to be
retained in the employ of Company or any of its affiliates, and the right of Company and any such affiliate to dismiss the Executive or to terminate any arrangement pursuant to which the Executive provides services to Company, with or without cause,
is specifically reserved. 

  

	 	 (d)
	 Amendment, Suspension, and Termination. The Plan may only be terminated or amended pursuant to a written agreement approved by the
Administrator and acknowledge and accepted by the signature of the Executive. 

  
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	 	 (e)
	 Other Compensation Arrangements. Nothing contained in the Plan shall prevent Company from adopting or continuing in effect other
compensation arrangements, which arrangements may be either generally applicable or applicable only in specific cases. 

  

	 	 (f)
	 Governing Law. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan shall be determined in
accordance with federal laws and the laws of the State of California, without regard to the State of California’s conflicts of law rules. 

  

	 	 (g)
	 No Trust. The Plan shall not create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between
Company and any individual. To the extent that the Executive acquires a right to receive payments from Company with respect to a Bonus, such right shall be no greater than the right of any unsecured general creditor of Company.

  

	 	 (h)
	 Section 409A of the Code. The Plan is intended to be exempt from Section 409A of the Internal Revenue Code of 1986 under the
short-term deferral rule. The Plan shall be administered and interpreted to maximize the short-term deferral rule and any payments made pursuant to that rule shall not be aggregated with any other payment. The Executive shall not, directly or
indirectly, designate the taxable year that any payment will be made under the Plan. 

 To record the adoption of this
Aduro BioTech Performance Bonus Plan, Company has caused its authorized officer to execute this Plan on this 26th day of February, 2010. 
  

			
	 ADURO BIOTECH

		
	 By
	 	 /s/ S. David Model

		
	 Name
	 	 S. David Model

		
	 Title
	 	 Acting CFO

  
 4EX-10.13

 Exhibit 10.13 

AMENDMENT 
 TO 

EXECUTIVE EMPLOYMENT AGREEMENT 

This AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is made as of this 31 day of July, 2014, by
and between Aduro BioTech, a Delaware corporation (the “Company”), and Stephen T. Isaacs (“Executive”) (collectively, the “Parties”). 

WHEREAS, the Parties wish to amend the Executive Employment Agreement between them dated as of February 26, 2010 (as the
same may have been previously amended to date, the “Agreement”). 
 NOW, THEREFORE, the Parties agree to
amend the Agreement as set forth below. 
 1. Amendment to Section 9(d). The first paragraph of
Section 9(d) of the Agreement is hereby amended and restated to read in its entirety as follows: 
 “d.
Termination by the Company without Just Cause. Company will have the unilateral right to terminate Executive’s employment with Company at any time without Just Cause. In the event Executive is terminated without Just Cause other than
upon Permanent Disability or resigns for Good Reason (as defined below), the Company’s obligation to make payments hereunder shall cease upon the resulting termination of Executive’s employment, and the Company shall have no obligation to
make any payments to Executive except as provided in this paragraph 9(d). The Company shall pay Executive (1) on the date of termination of Executive’s employment with Company (the “Termination Date”), any salary earned
but unpaid prior to termination and all accrued but unused vacation and (2) within 90 days following the Termination Date, any business expenses referred to in paragraph 7(b) that were incurred but not reimbursed as of the Termination Date.
Executive must submit appropriate documentation as required by paragraph 7(b) for any business expenses that were incurred prior to termination within such 90-day period or Executive will forfeit his right to reimbursement for those expenses. In
addition, upon the execution and effectiveness of a separation agreement and general release of all claims in substantially the form (or as may be reasonably modified by the Company in good faith and in its reasonable discretion) attached as
Exhibit A hereto (the “Release”), and, upon the written acknowledgment of his continuing obligations under paragraphs 8(b), 8(c) and 12(e) and under the Confidentiality Agreement, Executive shall be entitled to the following
severance benefits: 
 (1) the Company shall pay to Executive one year of Executive’s base salary as of
the Termination Date, less standard deductions and withholdings (“Severance Payment”); 

(2) the Company shall pay directly to the insurance carrier(s) all applicable COBRA payments for a maximum
period of 12 months (which will be less, if Executive ceases to be eligible for COBRA coverage before the end of such 12-month period) for Executive and any dependents to continue his/their health, dental and/or vision insurance; provided that
the Company’s obligation to make such payments will cease if and when Executive becomes eligible to receive equivalent benefits from a new employer; 

(3) The Company shall pay to Executive, on the sixtieth (60th) day after the Termination Date, a one-time
cash lump sum payment that is equal to the product of 

  
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Executive’s target Bonus for the fiscal year in which the Termination Date occurs (such year, the “Fiscal Year”) multiplied by the Percentage; and 

(4) all of Executive’s then unvested Equity Awards shall become vested and exercisable on an accelerated
basis as if Executive’s Termination Date had occurred twelve (12) months later, 
 The Severance Payment shall be
made in a lump-sum payment on the second month anniversary of the Executive’s Termination Date; provided that the Executive’s Release is effective (and not revocable) at such time. If the Release is not effective and non-revocable by the end of such 2 month period, then the Executive will forfeit the right to these benefits. Any COBRA payment due under this Agreement shall be made directly to the insurance carriers) in monthly
installments for a maximum period of 12 months commencing on the second month anniversary of the Executive’s termination; provided that the Executive’s Release is effective (and non-revocable) at such time. 

The term “Bonus” shall mean Executive’s annual bonus opportunity for the Fiscal Year. 

The term “Equity Awards” shall mean Executive’s Company equity compensation awards (including without
limitation Executive’s Company stock options) that are outstanding as of Executive’s Termination Date. 
 The term
“Percentage” shall mean the percentage that is equal to the quotient of (i) the number of days in the Fiscal Year that had elapsed as of the Termination Date (and including the Termination Date) divided by (ii) 365 (or 366
if such Fiscal Year is a leap year). 
 2. Addition of Exhibit A. The Exhibit attached as Exhibit A to
this Amendment is hereby added as Exhibit A to the Agreement. 
 3. Other than as provided in this Amendment, the Agreement
remains in full force and effect. 
 [Remainder of Page Intentionally Left Blank] 

  
 - 2 - 

 IN WITNESS WHEREOF, the Parties have each duly executed this Agreement as of the day and
year first above written. 
  

			
	 ADURO BIOTECH INC., A DELAWARE
CORPORATION

		
	 By:
	 	 /s/ Stephanie O’Brien

	 Its:
	 	 Comp Committee Chair

		 	  

	
	 EXECUTIVE

	
	 /s/ Stephen T. Isaacs

	 Stephen T. Isaacs

 [Signature Page to Amendment to Executive Employment Agreement] 

 EXHIBIT A 

SEPARATION AGREEMENT AND GENERAL RELEASE OF ALL CLAIMS 

This Separation Agreement and General Release, dated [DATE] (the “Agreement”), is made pursuant to that
certain Employment Agreement dated as of February 26, 2010, as amended as of July 31, 2014 (as amended to date, the “Employment Agreement”) entered into by and between Stephen T. Isaacs
(“Employee”) on the one hand, and Aduro BioTech, Inc. (the “Company”), on the other. This Agreement is entered into in consideration for and as condition precedent to the Company providing separation benefits to
Employee pursuant to the Employment Agreement. It is understood and agreed that the Company is not otherwise obligated to provide such benefits under the terms of the Employment Agreement and that the Company is doing so as a direct result of
Employee’s willingness to agree to the terms hereof. Collectively, Employee and the Company shall be referred to as the “Parties.” 

1. Employee was formerly employed by the Company. Employee’s employment with the Company ended effective [DATE] (the
“Termination Date”) as a result of a Qualifying Termination. [A Change in Control of the Company occurred on [DATE].] 

2. The purpose of this Agreement is to resolve any and all disputes relating to Employee’s employment with the Company,
and the termination thereof (the “Disputes”). The Parties desire to resolve the above-referenced Disputes, and all issues raised by the Disputes, without the further expenditure of time or the expense of contested litigation.
Additionally, the Parties desire to resolve any known or unknown claims as more fully set forth below. For these reasons, they have entered into this Agreement. 

3. Employee acknowledges and agrees that Employee has received all wages due to Employee through the Termination Date,
including but not limited to all accrued but unused vacation, bonuses, commissions, options, benefits, and monies owed by the Company to Employee. Employee further agrees and acknowledges that Employee has been fully paid and reimbursed for any and
all business expenses which Employee incurred during his/her employment with the Company. 
 4. The Company expressly denies
any violation of any federal, state or local statute, ordinance, rule, regulation, policy, order or other law. The Company also expressly denies any liability to Employee. This Agreement is the compromise of disputed claims and nothing contained
herein is to be construed as an admission of liability on the part of the Company hereby released, by whom liability is expressly denied. Accordingly, while this Agreement resolves all issues referenced herein, it does not constitute an adjudication
or finding on the merits of the allegations in the Disputes and it is not, and shall not be construed as, an admission by the Company of any violation of federal, state or local statute, ordinance, rule, regulation, policy, order or other law, or of
any liability alleged in the Disputes. 
 5. In consideration of and in return for the promises and covenants undertaken by
the Company and Employee herein and the releases given by Employee herein, Employee shall receive the benefits provided by Section 9(d) of the Employment Agreement. Any tax liabilities resulting from or arising out of the benefits to Employee
referred to in this paragraph, shall be the sole and exclusive responsibility of Employee. Employee agrees to indemnify and hold the Company and the others released herein harmless from and for any tax liability (including, but not limited to,
assessments, interest, and penalties) imposed on the Company by any taxing authority on account of the Company failing to withhold for tax purposes any amount from the benefits made as consideration of this Agreement. 

  
 Exhibit A-1 

 6. Except for any rights created by this Agreement, in consideration of and in
return for the promises and covenants undertaken herein by the Company, and for other good and valuable consideration, receipt of which is hereby acknowledged: 

a. Employee does hereby acknowledge full and complete satisfaction of and does hereby release, absolve and discharge the
Company, and each of its parents, subsidiaries, divisions, related companies and business concerns, past and present, as well as each of its partners, trustees, directors, officers, agents, attorneys, servants and employees, past and present, and
each of them (hereinafter collectively referred to as “Releasees”) from any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, grievances, wages, vacation payments, severance
payments, obligations, commissions, overtime payments, debts, profit sharing claims, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown to Employee which Employee now
owns or holds or has at anytime owned or held as against Releasees, or any of them, including specifically but not exclusively and without limiting the generality of the foregoing, any and all claims, demands, grievances, agreements, obligations and
muses of action, known or unknown, suspected or unsuspected by Employee: (1) arising out of or in any way connected with the Disputes; or (2) arising out of Employee’s employment with the Company; or (3) arising out of or in any
way connected with any claim, loss, damage or injury whatever, known or unknown, suspected or unsuspected, resulting from any act or omission by or on the part of the Releasees, or any of them, committed or omitted on or before the time Employee
signs this Agreement. Additionally, Employee in any future claims may not use against Releasees as evidence any acts or omissions by or on the part of the Releasees, or any of them, committed or omitted on or before the time Employee signs this
Agreement, and no such future claims may be based on any such acts or omissions. Also without limiting the generality of the foregoing, Employee specifically releases the Releasees from any claim for attorneys’ fees. EMPLOYEE ALSO SPECIFICALLY
AGREES AND ACKNOWLEDGES EMPLOYEE IS WAIVING ANY RIGHT TO RECOVERY BASED ON STATE OR FEDERAL AGE, SEX, PREGNANCY, RACE, COLOR, NATIONAL ORIGIN, MARITAL STATUS, RELIGION, VETERAN STATUS, DISABILITY, SEXUAL ORIENTATION, MEDICAL CONDITION OR OTHER
ANTI-DISCRIMINATION LAWS, INCLUDING, WITHOUT LIMITATION, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE AGE DISCRIMINATION IN EMPLOYMENT ACT, THE EQUAL PAY ACT, THE AMERICANS WITH DISABILITIES ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, THE
CALIFORNIA FAMILY RIGHTS ACT, CALIFORNIA LABOR CODE SECTION 970, THE FAMILY AND MEDICAL LEAVE ACT, THE EMPLOYEE RETIREMENT INCOME SECURITY ACT, THE WORKER ADJUSTMENT AND RETRAINING ACT, THE FAIR LABOR STANDARDS ACT, AND ANY OTHER SECTION OF THE
CALIFORNIA LABOR OR GOVERNMENT CODE, ALL AS AMENDED, WHETHER SUCH CLAIM BE BASED UPON AN ACTION FILED BY EMPLOYEE OR BY A GOVERNMENTAL AGENCY. This release does not release claims that cannot be released as a matter of law. 

7. Employee agrees and understands as follows: It is the intention of Employee in executing this instrument that it shall be
effective as a bar to each and every claim, demand, grievance and cause of action hereinabove specified. In furtherance of this intention, Employee hereby expressly waives any and all rights and benefits conferred upon Employee by the provisions of
Section 1542 of the California Civil Code and expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected claims,
demands and causes of action, if any, as well as those relating to any other claims, demands and causes of action hereinabove specified, Section 1542 provides: 

  
 Exhibit A-2 

 “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.” 

Having been so apprised, Employee nevertheless hereby voluntarily elects to and does waive the rights described in Civil Code
section 1542 and elects to assume all risks for claims that now exist in Employee’s favor, known or unknown, that are released under this Agreement. 

8. Employee agrees: (1) the fact of and the terms and conditions of this Agreement; and (2) any and all actions by
Releasees taken in accordance herewith, are confidential, and shall not be disclosed, discussed, publicized or revealed by the parties or their attorneys to any other person or entity, including but not limited to radio, television, press media,
newspapers, magazines, professional journals and professional reports, excepting only the Parties’ accountants, lawyers, immediate family members (mother, father, brother, sister, child, spouse), the persons necessary to carry out the terms of
this Agreement or as required by law. Should Employee be asked about the Disputes or this Agreement, Employee shall limit Employee’s response, if any, by stating that the matters have been amicably resolved. 

9. In the event a government agency files or pursues a charge or complaint relating to Employee’s employment with the
Company and/or the Disputes, Employee agrees not to accept any monetary or other benefits arising out of the charge or Complaint. 

10. Employee agrees not to make any derogatory, disparaging or negative comments about the Company, its products, officers,
directors, or employees. 
 11. If any provision of this Agreement or application thereof is held invalid, the invalidity
shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provision or application. To this end, the provisions of this Agreement are severable. 

12. Employee agrees and understands that this Agreement may be treated as a complete defense to any legal, equitable, or
administrative action that may be brought, instituted, or taken by Employee, or on Employee’s behalf, against the Company or the Releasees, and shall forever be a complete bar to the commencement or prosecution of any claim, demand, lawsuit,
charge, or other legal proceeding of any kind against the Company and the Releasees, 
 13. This Agreement and all covenants
and releases set forth herein shall be binding upon and shall inure to the benefit of the respective Parties hereto, their legal successors, heirs, assigns, partners, representatives, parent companies, subsidiary companies, agents, attorneys,
officers, employees, directors and shareholders. 
 14. The Parties hereto acknowledge each has read this Agreement, that
each fully understands its rights, privileges and duties under the Agreement, that each has had an opportunity to consult with an attorney of its choice and that each enters this Agreement freely and voluntarily. 

15. This Agreement may not be released, discharged, abandoned, changed or modified in any manner, except by an instrument in
writing signed by Employee and an officer of the Company. The failure of any Party to enforce at any time any of the provisions of this Agreement shall in no way be construed as a waiver of any such provision, nor in any way to affect the validity
of this 

  
 Exhibit A-3 

 
Agreement or any part thereof or the right of any Party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to be a waiver of any other or
subsequent breach. 
 16. This Agreement and the provisions contained herein shall not be construed or interpreted for or
against any party hereto because that party drafted or caused that party’s legal representative to draft any of its provisions. 

17. In the event of litigation arising out of or relating to this Agreement, the prevailing party shall be entitled to recover
reasonable attorneys’ fees and costs. 
 18. Employee acknowledges Employee may hereafter discover facts different
from, or in addition to, those Employee now knows or believes to be true with respect to the claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, wages, obligations, debts, expenses, damages, judgments, orders
and liabilities herein released, and agrees the release herein shall be and remain in effect in all respects as a complete and general release as to all matters released herein, notwithstanding any such different or additional facts. 

19. The undersigned each acknowledge and represent that no promise or representation not contained in this Agreement has been
made to them and acknowledge and represent that this Agreement and the Employment Agreement contains the entire understanding between the Parties and contains all terms and conditions pertaining to the compromise and settlement of the subjects
referenced herein. The undersigned further acknowledge that the terms of this Agreement are contractual and not a mere recital. 

20. Employee expressly acknowledges, understands and agrees that this Agreement includes a waiver and release of all claims
which Employee has or may have under the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. §621, et seq. (“ADEA”). The terms and conditions of Paragraphs 20 through 22 apply to and are part of the waiver and
release of ADEA claims under this Agreement. Company hereby advises Employee in writing to discuss this Agreement with an attorney before signing it. Employee acknowledges the Company has provided Employee at least forty-five days within which to
review and consider this Agreement before signing it. If Employee elects not to use all forty-five days, then Employee knowingly and voluntarily waives any claim that Employee was not in fact given that period of time or did not use the entire
forty-five days to consult an attorney and/or consider this Agreement. 
 21. Within three calendar days of signing and
dating this Agreement, Employee shall deliver the signed original of this Agreement to
[                            ] of the Company. However, the Parties acknowledge and agree that
Employee may revoke this Agreement for up to seven calendar days following Employee’s execution of this Agreement and that it shall not become effective or enforceable until the revocation period has expired without revocation. The Parties
further acknowledge and agree that such revocation must be in writing addressed to and received by
[                            ] of the Company not later than midnight on the seventh day following
execution of this Agreement by Employee. If Employee revokes this Agreement under this Paragraph, this Agreement shall not be effective or enforceable and Employee will not receive the benefits described above, including those described in Paragraph
5. 

  
 Exhibit A-4 

 22. If Employee does not revoke this Agreement in the timeframe specified in
Paragraph 21 above, the Agreement shall be effective at 12:00:01 a.m. on the eighth day after it is signed by Employee (the “Effective Date”). 

23. This Agreement is intended to be exempt from or comply with the requirements of section 409A of the Internal Revenue Code
of 1986 as amended (“Section 409A”) and will be interpreted accordingly. While it is intended that all payments and benefits provided under this Agreement to Employee or on behalf of Employee will be exempt from or comply with
Section 409A, the Company makes no representation or covenant to ensure that such payments and benefits are exempt from or compliant with Section 409A. The Company will have no liability to Employee or any other party if a payment or
benefit under this Agreement is challenged by any taxing authority or is ultimately determined not to be exempt from or compliant with Section 409A. 

24. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original
and such counterparts shall together constitute one and the same Agreement. 
 25. This Agreement shall be construed in
accordance with, and be deemed governed by the Employee Retirement Income Security Act of 1974, as amended, and, to the extent applicable, the laws of the State of Delaware, without reference to the conflict of law provisions thereof

  
 Exhibit A-5 

 I have read the foregoing Separation Agreement and General Release of All Claims,
consisting of [    ] pages, and I accept and agree to the provisions contained therein and hereby execute it voluntarily and with full understanding of its consequences. 

PLEASE READ CAREFULLY. THIS AGREEMENT CONTAINS A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

 

							
	 Dated:
	 	  
	 		 	  

		 		 		 	 Stephen T. Isaacs

				
		 		 		 	 Aduro BioTech, Inc.

				
	 Dated:
	 	  
	 		 	  

		 		 		 	 Name:

		 		 		 	 Title:

 [Signature Page to Separation Agreement and General Release of All Claims]

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