Document:

Exhibit 10.2

 

AMENDMENT NO. 1

 

to

 

EMPLOYMENT AGREEMENT

Dated July 5, 2017

 

by and between

AXIS Specialty U.S. Services, Inc. (the
 “Company”)

and

Steve K. Arora (the “Executive”)

 

Dated: October 6, 2020

 

WHEREAS, the Company and the Executive entered into an employment
agreement dated July 5, 2017 (the “Agreement”); and

 

WHEREAS, the Compensation Committee of the Board of Directors
of AXIS Capital Holdings Limited (“Holdings”), the Company and the Executive have determined that it is in the best
interests of the Company, AXIS Capital Holdings Limited and its shareholders to extend the term of service thereof;

 

NOW, THEREFORE, the Agreement is hereby amended, effective as
of the aforementioned date, as follows:

 

		1.	Section 3(a) of the Agreement (Term of Employment) is hereby amended to replace “the third anniversary of the Commencement
Date” in the second line thereof with “January 1, 2024”.

 

		2.	Except as set forth herein, all other terms and conditions of the Agreement shall remain in full force and effect.

 

 

[Signatures on Following Page]

 

    	 	 

     

    

 

IN WITNESS WHEREOF, the undersigned have executed this Amendment
No. 1 as of the date first above written.

 

	 	 	 
	 	AXIS SPECIALTY U.S. SERVICES, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Noreen McMullan 	 
	 	Name:	Noreen McMullan	 
	 	Title: 	Executive Vice President	 

 

 

Accepted and Agreed:

 

 

/s/ Steve K. Arora

Steve K. AroraExhibit 10.3

 

AMENDMENT NO. 1

 

to

 

LETTER AGREEMENT

Dated July 5, 2017

 

by and between

AXIS Specialty U.S. Services, Inc. (the
 “Company”)

and

Steve K. Arora (the “Executive”)

 

Dated: October 6, 2020

 

WHEREAS, the Company and the Executive entered into a letter
agreement dated July 5, 2017 containing the terms and conditions in consideration of the Executive’s international assignment
to Zurich (the “Letter Agreement”); and

 

WHEREAS, the Compensation Committee of the Board of Directors
of AXIS Capital Holdings Limited, the Company and the Executive have determined that it is in the best interests of the Company,
AXIS Capital Holdings Limited and its shareholders to amend certain the terms of the Letter Agreement;

 

NOW, THEREFORE, the Letter Agreement is hereby amended, effective
as of the date first above written, as follows:

 

		1.	The section entitled “Term of Assignment” is hereby amended to replace the reference to “to
last three (3) years.” in the fifth line thereof with “until January 1, 2024”.

 

		2.	The section entitled “Housing and Utilities Allowance” is hereby amended as follows:

 

		-	in the first line of the first paragraph thereof, “During the term of the assignment” is replaced with “Through
December 31, 2021 regardless of whether you rent or own a home,”;

 

		-	the second paragraph is deleted in its entirety;

 

		-	in the first and second lines of the third paragraph thereof, “although your housing and utilities allowance will continue,”
is deleted”.

 

		3.	The section entitled “Children’s School Allowance” is hereby amended to replace “During
the term of the assignment” in the first line thereof with “Through December 31, 2021”.

 

		4.	Except as set forth herein, all other terms and conditions of the Letter Agreement shall remain in full force and effect.

 

    	 	 

     

    

 

IN WITNESS WHEREOF, the undersigned have
executed this Amendment No. 1 to the Letter Agreement as of the date first above written.

 

	 	 	 
	 	AXIS SPECIALTY U.S. SERVICES, INC.	 
	 	 	 
	 	 		 
	 	By:	/s/ Noreen McMullan	 
	 	Name:	Noreen McMullan	 
	 	Title: 	Executive Vice President	 

 

 

Accepted and Agreed:

 

 

/s/ Steve K. Arora

Steve K. Aroragv-ex101_6.htm

Exhibit 10.1

The Goldfield Corporation

Retention Bonus Agreement

	
1.
	
Retention Bonus Opportunity. The Goldfield Corporation (together with its subsidiaries, the “Company”) has granted you the opportunity to earn a lump-sum cash retention bonus in the amount of $[●] (the “Retention Bonus”).

	
2.
	
Conditions to Bonus. You will earn the Retention Bonus if you are employed with the Company through October 2, 2021 (the “Retention Date”). If earned, the Retention Bonus will be paid to you within 14 days following the Retention Date. If your employment with the Company terminates for any reason prior to the Retention Date, then, except as set forth in Section 3, you will forfeit the Retention Bonus.

	
3.
	
Involuntary Termination. 

	
 
	
a.
	
If your employment with the Company terminates due to an Involuntary Termination (as defined below) prior to the Retention Date, then, subject to you (or, in the event of your death, your estate) executing and letting become irrevocable a general release of claims in the form provided by the Company on or before the 52nd day following such termination, you will receive the Retention Bonus within 14 days following the day on which such general release becomes irrevocable. Notwithstanding anything to the contrary herein or otherwise, if such Involuntary Termination is due to clause (ii) or (iv) of the definition of Involuntary Termination, the amount of the Retention Bonus paid to you will be prorated for the number of days of your employment with the Company between (x) October 2, 2020, and (y) the Retention Date, as calculated by the Company in its reasonably discretion.

	
 
	
b.
	
“Involuntary Termination” means (i) a termination of your employment by the Company without Cause (as defined below), (ii) a termination of your employment by the Company for Disability  (as defined in the Company’s 2013 Long-Term Incentive Plan), (iii) a termination of your employment by you for Good Reason (as defined below), or (iv) a termination of your employment due to death.

	
 
	
c.
	
“Cause” means as such term is defined in any written employment agreement between you and the Company defining such term and, in the absence of such agreement, such term means the occurrence of any of the following events: (i) your unauthorized misuse of the Company’s trade secrets or proprietary information; (ii) your conviction of or plea of nolo contendere to a felony or a crime involving moral turpitude; (iii) your commission of an act of fraud against the Company; or (iv) your gross negligence or willful misconduct in the performance of your duties that has had or is likely to have a material adverse effect on the Company.

	
 
	
d.
	
“Good Reason” means as such term is defined in any written employment agreement between you and the Company defining such term and, in the absence of such agreement, such term means the occurrence of any of the following events: (i) a change in your responsibilities or duties which represents a material diminution in your responsibilities or duties, respectively; (ii) a material reduction in your base salary; provided that an across-the-board reduction in the salary level of substantially all other individuals in positions similar to your position by the same percentage amount not to exceed 10% will not constitute such a salary reduction; or (iii) requiring you to be based at any place outside a 35-mile radius from your job location as of the date hereof except for reasonably required travel on business. 

503719200.1 

 

 

 
 

 

	
4.
	
Expiration Date. This Retention Bonus Agreement will expire on the calendar day following the Retention Date (provided that if the Retention Bonus is earned prior to such expiration), this Retention Bonus Agreement will expire once all earned payments hereunder have been made to you.

	
5.
	
Miscellaneous. By signing this Retention Bonus Agreement, you acknowledge and agree that (i) you have reviewed this Retention Bonus Agreement in its entirety, (ii) you have had an opportunity to obtain the advice of counsel prior to signing this Retention Bonus Agreement, (iii) you fully understand all the terms and conditions contained in this Retention Bonus Agreement, (iv)  nothing in this Retention Bonus Agreement confers upon you any right with respect to future compensation or continuation of your services with the Company or any of its affiliates, nor does anything in this Retention Bonus Agreement interfere in any way with the right of the Company or any of its affiliates to terminate your relationship with the Company or its subsidiaries or affiliates, with or without cause, and with or without notice, and for any reason or no reason, (v) the Retention Bonus is subject to required tax withholdings, (vi) the Company will interpret and resolve any ambiguities in this Retention Bonus Agreement in its discretion, (vii) you may not assign this Retention Bonus Agreement, (viii) this Retention Bonus Agreement can only be amended in writing signed by you and the Company, (ix) this Retention Bonus Agreement represents the entire agreement between you and the Company regarding the Retention Bonus and (x) this Retention Bonus Agreement will be governed by the laws of Delaware. Notwithstanding anything to the contrary herein, if, prior to the Retention Date, there occurs a Change in Control (as defined in the Company’s 2013 Long-Term Incentive Plan) and, immediately prior to such Change in Control, you are employed with the Company, then, within 14 days following such Change in Control, you will receive the Retention Bonus and you will be due no other compensation or payments hereunder.

 

		
	
THE GOLDFIELD CORPORATION
	
[●]

	
 

By: __________________________________

Name: ________________________________

Title: _________________________________

Dated: ________________________________
	
 

By: __________________________________

Name: ________________________________

Dated: ________________________________

 

 

 

503719200.1EX-10.2

 Exhibit 10.2 

CONFIDENTIAL SEPARATION AGREEMENT 

This Confidential Separation Agreement and General Release (the “Agreement”) is made and entered into by and between Aduro Biotech,
Inc. (“Aduro”) and                      (“Employee”) (Aduro and the Employee are referred to collectively as
“Parties”). 
 1.    Employment. Employee’s employment with Aduro is ended as of October [5], 2020
(“Separation Date”). 
 2.    Severance Plan. Employee is eligible for benefits under the Aduro Amended
And Restated Severance Plan And Summary Description dated December 9, 2016, as amended (“Severance Plan”), as a Tier I Employee. Employee’s separation from employment is a “Change in Control Termination” as defined in
Section I(f) of the Severance Plan. This Agreement provides the benefits for which Employee is eligible under the Severance Plan, pursuant to the Release Requirement set forth at Section II(b) of the Severance Plan. For purposes of this Agreement,
the terms “Cause,” “Change in Control,” “Change in Control Termination,” “Closing,” and “Separation from Service,” will be defined as set forth in the Severance Plan. 

3.    Consideration. In consideration for executing this Agreement and compliance with the terms herein, the
Parties hereby agree as follows: 
 3.1    Separation Pay. Aduro will provide a payment to Employee in the amount
of                          Dollars ($            ) (the
“Separation Pay”), less applicable withholdings, which is equivalent to the following: 
 3.1.1     The
amount of                          Dollars ($            ), which is
equivalent to twelve (12) months of pay at Employee’s base salary rate, and 
 3.1.2    The amount of
                         Dollars ($            ), which is equivalent
to Employee’s Target Bonus Amount for the 2020 fiscal year. 
 The Separation Pay will be made to Employee within 15 days after the
Effective Date as defined herein, by direct deposit into Employee’s bank account on file with Aduro’s payroll department, and is subject to all applicable withholding for federal, state and local taxes. 

3.2    COBRA Reimbursement. 

3.2.1    If Employee timely elects continued coverage under COBRA, Aduro will directly pay the COBRA insurance provider
for the COBRA premiums necessary to continue Employee’s COBRA coverage for the Employee and the Employee’s eligible dependents from the Separation Date until the earliest to occur of (a) twelve (12) months after Employee’s
termination date, (b) the expiration of Employee’s eligibility for the continuation coverage under COBRA, and (c) the date when the Employee becomes eligible for substantially equivalent health insurance coverage in connection with
new employment or self-employment (such applicable period from the Separation Date through the earliest of (a) through (c) is referred to herein as the “COBRA Payment Period”). Upon the conclusion of such COBRA Payment Period,
Employee will be responsible for the entire payment of premiums (or payment for the cost of coverage) required under COBRA for the duration of Employee’s eligible COBRA coverage period, if any. For purposes of this section, (A) references
to COBRA shall be deemed to refer also to analogous provisions of state law and (B) any applicable insurance premiums that are paid by Aduro shall not include any amounts payable by Employee under a Code Section 125 health care
reimbursement plan, which amounts, if any, are Employee’s sole responsibility. 

  

					
		 	-1 of 6-	 	Separation Agreement

 3.2.2    Notwithstanding the foregoing, if at any time Aduro
determines, in its sole discretion, that it cannot provide the COBRA premium benefits without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service
Act), then in lieu of paying COBRA premiums on the Employee’s behalf, Aduro will instead pay the Employee on the last day of each remaining month of the COBRA Payment Period a fully taxable cash payment equal to the COBRA premium for that
month, subject to applicable tax withholding (such amount, the “Special Severance Payment”), such Special Severance Payment to be made without regard to the Employee’s election of COBRA coverage or payment of COBRA premiums and
without regard to the Employee’s continued eligibility for COBRA coverage during the COBRA Payment Period. Such Special Severance Payment shall end upon expiration of the COBRA Payment Period. 

3.3    Accelerated Vesting of Stock Awards. 

3.3.1    The vesting and exercisability (if applicable) of all outstanding and unvested stock based awards
(“Outstanding Stock Awards”) granted under Aduro’s equity incentive plans (to the extent such awards are outstanding, assumed, substituted or otherwise continued in connection with a Change in Control, each an “Assumed
Award”) that are held by Employee on the Separation Date will become 100% vested and exercisable (if applicable) on the Separation Date. In the event that an Outstanding Stock Award is not assumed, substituted or otherwise continued in
connection with a Change in Control and as a result does not become an Assumed Award, the vesting and exercisability of such Outstanding Stock Award will become 100% vested and exercisable (if applicable) immediately prior to the effective time of
the Change in Control. Notwithstanding the foregoing, any vesting acceleration with respect to equity awards held by Employee that were granted on February 21, 2020 shall be solely with respect to that number of shares that would have vested
and become exercisable had Employee’s service with the Company continued through February 21, 2021. 

3.3.2    In order to give effect to the intent of the foregoing provision, notwithstanding anything to the contrary set
forth in Employee’s Outstanding Stock Award agreements or the equity plan under which such stock award was granted that provides that any then unvested portion of the award will immediately expire upon the Separation Date, no unvested portion
of Employee’s stock award shall generally terminate any earlier than the Effective Date of the Agreement. 

3.4    Outplacement Services. Aduro will reimburse Employee in an amount up to $1,200.00 for use of Outplacement
Services offered through Torchiana, Mastrov & Sapiro, A Career Partners International firm. 
 3.5    No
Consideration Unless Employee Complies With This Agreement. Employee will not receive the consideration specified in this Section 3, unless Employee executes this Agreement (and does not revoke it) and fulfills the promises contained
herein. 
 4.    Tax Withholding; Offset; Section 409A. All payments under the Agreement will
be subject to applicable withholding (in amounts determined by Aduro) for federal, state and local taxes. The Severance Plan, and in particular Sections III(d) and V. of the Severance Plan, shall control with respect to tax treatment, offset, and
the application of Sections 280G and 409A of the Internal Revenue Code to the benefits provided under this Agreement. 

5.    Other Payments. Employee acknowledges that Employee has received from Aduro all compensation or payments due
to Employee, including without limitation, any and all wages, vacation, PTO, leave, expenses, and/or benefits to which Employee is entitled other than the amounts payable under Section 3. 

  

					
		 	-2 of 6-	 	Separation Agreement

 6.    General Release of Claims. 

6.1    Release: In exchange for the consideration provided for in this Agreement, the adequacy of which Employee
hereby acknowledges, Employee irrevocably and unconditionally releases all claims described below that Employee may have against the following persons or entities (the “Releasees”): Aduro, Chinook Therapeutics, Inc.
(“Chinook”), all of Aduro and Chinook’s related or affiliated organizations, including all of Aduro and Chinook’s and their related or affiliated organizations’ predecessors and successors; and, with respect to
each such entity, all of its past and present employees, officers, directors, partners, principals, representatives, assigns, attorneys, agents, insurers, employee benefit programs (and the trustees, administrators, fiduciaries and insurers of such
programs) and any other persons acting by, through, under, or in concert with any of the persons or entities listed in this Subsection. 

6.2    Claims Released: The claims released include all claims, promises, offers, debts, causes of action or
similar rights of any type or nature Employee has or had against Releasees, including but not limited to those which in any way relate to Employee’s employment with Aduro or the separation of Employee’s employment. This includes (but is
not limited to) a release and waiver of any common law contract or tort claims, the Fair Labor Standards Act and any state or local wage and hour laws, or other claims that may have arisen under any federal, state, or local anti-discrimination
statutes or laws, such as the Age Discrimination in Employment Act; Title VII of the Civil Rights Act of 1964; § 1981 of the Civil Rights Act of 1866 and Executive Order 11246; the Fair Labor Standards Act; the Employee Retirement and Income
Security Act; the Americans with Disabilities Act, 42 U.S.C. § 1981; the Workers Adjustment and Retraining Notification Act, as amended; the Family and Medical Leave Act; the California Family Rights Act; the California Labor Code; the
California Civil Code; the California Constitution; and any and all other laws and regulations relating to employment termination, employment discrimination, whistleblowing, harassment or retaliation, claims for wages, hours, benefits, compensation,
equity incentive pay, and any and all claims for attorneys’ fees and costs, inasmuch as is permissible by law and by the respective governmental enforcement agencies for the above-listed laws. 

6.3    Claims Not Included: This Agreement does not waive rights or claims under federal or state law that Employee
cannot, as a matter of law, waive by private agreement, including without limitation any right of indemnification under Labor Code Section 2802 and any right to accrued benefits. Additionally, nothing in this Agreement precludes Employee from
filing a charge or complaint with or participating in any investigation or proceeding before the Equal Employment Opportunity Commission, National Labor Relations Board, or the California Department of Fair Employment and Housing. However, while
Employee may file a charge and participate in any proceeding conducted by the Equal Employment Opportunity Commission, National Labor Relations Board, or the California Department of Fair Employment and Housing, by signing this Agreement, Employee
waives his/her right to bring a lawsuit against the Released Parties (or any of them) and waives his/her right to any individual monetary recovery in any action or lawsuit initiated by the Equal Employment Opportunity Commission, National Labor
Relations Board, or the California Department of Fair Employment and Housing. Furthermore, nothing in this Agreement prohibits Employee from reporting possible violations of federal law or regulation to any governmental agency or entity, including
but not limited to the Department of Justice, the Securities and Exchange Commission, the Congress, and any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation.
Employee does not need the prior authorization of Aduro to make any such reports or disclosures and Employee is not required to notify Aduro that Employee has made such reports or disclosures. Further, nothing in this Agreement prohibits Employee or
any person from testifying about alleged criminal conduct or sexual harassment when the party has been compelled or requested to do so by lawful process. 

7.    Older Worker’s Benefit Protection Act. This Agreement constitutes a knowing and voluntary waiver of any
and all rights or claims that Employee has or may have under the Federal Age Discrimination In Employment Act, as amended by the Older Workers’ Benefit Protection Act of 1990, 29 U.S.C. §§ 621 et seq. This
paragraph and this Agreement are written in a manner calculated to be understood by Employee. Employee 

  

					
		 	-3 of 6-	 	Separation Agreement

 
is hereby advised in writing to consult with an attorney before signing this Agreement. Employee has reviewed and considered the information attached hereto as Appendix A. Employee has had a
reasonable time of up to 45 days in which to consider signing this Agreement. If Employee decides not to use all 45 days, Employee knowingly and voluntarily waives any claims that Employee was not given the
45-day period or did not use the entire 45 days to consider this Agreement. Employee may revoke this Agreement at any time within the 7-day period following the date
Employee executes this Agreement by providing written notice of revocation by email to Violet Torneros at vtorneros@aduro.com so that said notice is received before the expiration of the 7-day revocation
period. The Agreement shall not become effective or enforceable until after the 7-day revocation period has expired (the “Effective Date”). If Employee revokes the Agreement within the 7-day revocation period, Employee will not receive the consideration set forth in the Agreement. 

8.    Release of Unknown Claims. Employee has reviewed and hereby expressly waives the provisions of
Section 1542 of the California Civil Code, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE
RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” This Agreement extends to all claims or causes of action, of every nature and kind whatsoever, known or unknown,
enumerated in this Agreement or otherwise. Employee may hereafter discover presently unknown facts or claims different from or in addition to those that Employee now knows as to the matters released herein. It is Employee’s intention, through
this Agreement, to fully release all such matters and all claims related thereto, which do now exist, may exist or heretofore have existed. 

9.    Covenant Not To Sue. Employee has not, and will not, directly or indirectly institute any legal action
against the Released Parties based upon, arising out of, or relating to any claims released in this Agreement, to the extent allowed by law. Employee has not, and will not, directly or indirectly encourage and/or solicit any third party to institute
any legal action against the Released Parties, to the extent allowed by law. 
 10.    Inquiries. Aduro will
respond to any inquiries about Employee’s employment by providing only Employee’s dates of employment, and job titles. Employee will direct all such inquiries to the Aduro Human Resources Department. 

11.    No Workplace Injuries. Employee has not sustained any workplace injury of any kind during Employee’s
employment with Aduro, and Employee does not intend to file any claim for or seek any workers’ compensation benefits. 

12.    Continued Obligations Pursuant To Proprietary Information and Inventions Agreement. Employee has previously
signed a Proprietary Information and Inventions Agreement (“PIIA”) with respect to this employment with Aduro. The PIIA is appended to this Agreement as Appendix B, and its terms are incorporated herein. Employee understands and affirms
that Employee is bound by the lawful terms of the PIIA after Employee’s employment ends. Among other obligations, but not limited to them, Employee acknowledges and agrees that Employee has received or has had access to confidential and/or
proprietary information of Aduro and third parties, and that Employee has a continuing obligation to keep such information confidential. 

13.    Defend Trade Secrets Act Notice: Pursuant to 18 U.S.C. 1833(b), an individual shall not be held criminally
or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and
(ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Further, an individual who
files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files
any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order. 

  

					
		 	-4 of 6-	 	Separation Agreement

 14.    Return of All Aduro Materials. Employee has returned to
Aduro all Aduro’s records, documents, electronically stored information, and tangible embodiments of such, in Employee’s possession, including but not limited to Aduro’s trade secrets, confidential information and proprietary
information. Employee has returned to Aduro all property of Aduro including but not limited to pagers, keys, key cards, cellular phones, credit cards, personal and laptop computers, and any other electronic equipment. 

15.    No False or Disparaging Statements. Employee shall not make and/or ratify any false and/or
disparaging comments and/or statements about the released parties, their officers, employees and/or agents, unless and to the extent required by law and/or as otherwise provided in this Agreement. Employee’s
non-disparagement obligation is a material term of this agreement. Nothing in this Section or any other provision of this Agreement is intended to prevent the Parties from disclosing factual information
regarding any claim for sexual harassment, sex discrimination, or retaliation for reporting sexual harassment or sex discrimination. 

16.    Confidentiality. Employee shall not disclose, publicize or allow or cause to be publicized or disclosed any
of the terms and conditions of this agreement, or the existence of this agreement itself, unless and to the extent required by law. This provision does not prevent employee from disclosing the amount of the payment in this agreement to
employee’s spouse, attorneys, accountants, and/or the government for tax purposes. Should employee disclose any information concerning this agreement to those listed above, employee must advise those to whom the information is disclosed they
will also be under an obligation to keep the terms, conditions and existence of this agreement confidential. This provision is a material term of this agreement. 

17.    Acknowledgment. Employee has read this Agreement, has the authority to sign it, fully understands the
contents of this Agreement, freely, voluntarily and without coercion enters into this Agreement, and is signing it with full knowledge that it is intended, to the maximum extent permitted by law, as a complete release and waiver of any and all
claims. 
 18.    Severability. In the event any provision of this Agreement is held to be void, null or
unenforceable, the remaining portions shall remain in full force and effect. 
 19.    No Admission of
Wrongdoing. Neither this Agreement nor the furnishing of the consideration for this Agreement shall be deemed or construed as an admission of liability or wrongdoing on the part of the Released Parties, nor shall they be admissible as evidence
in any proceeding other than for the enforcement of this Agreement. 
 20.    Modification. This Agreement cannot
be modified in any respect except in a written instrument signed by both Parties. 
 21.    Entire Agreement.
This Agreement sets forth the entire agreement between the Parties hereto with respect to the subject matter hereof, and fully supersedes any prior agreements or understandings between the Parties with respect to the subject matter hereof. For the
avoidance of doubt, the PIIA, the Indemnification Agreement between Employee and the Company dated June 27, 2019, the indemnification provisions in the Company’s certificate of incorporation, bylaws or other organizational documents, each
as amended and the provisions of the Retention Agreement dated January 9, 2020 providing Employee additional time to exercise options remain in full force and effect. 

  

					
		 	-5 of 6-	 	Separation Agreement

 22.    No Reliance. Employee has not relied on any
representations, promises, or agreements of any kind made to Employee in connection with Employee’s decision to accept this Agreement, except for those set forth in this Agreement. 

23.    Interpretation. Any uncertainty or ambiguity in the Agreement shall not be construed for or against any
Party based on the attribution of drafting to any Party. 
 24.    Counterparts. This Agreement may be executed
by the Parties in counterparts, which are defined as duplicate originals, all of which taken together shall be construed as one document. 

25.    Signature. A signature by facsimile or email on this Agreement shall be as legally binding as an original
signature. 
 26.    Governing Law. This Agreement is made in accordance with the Severance Plan and, as such, is
governed by ERISA and, to the extent applicable, the laws of the State of Delaware, without reference to the conflict of law provisions thereof.

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

To accept this offer and state Employee’s intention to be bound by the terms of this Agreement, Employee must sign and return this letter to Violet
Torneros Senior Director, Human Resources at vtorneros@aduro.com no earlier than the Separation Date and no later than [insert date 45 days later]. If Employee does not return this letter, signed, on or before that date, this offer will lapse and
may no longer be accepted by Employee. 
  

			
	Executed on                     , 2020	 	  

		
	Executed on                     , 2020	 	  

		 	for ADURO BIOTECH, INC.

  

					
		 	-6 of 6-	 	Separation Agreement

 APPENDIX A 

This separation pay program will occur on October 5, 2020. The decisional unit for this separation pay program includes all officers in the facility at
740 Heinz Avenue, Berkeley, California. All officers in the decisional unit who are being laid off on October 5, 2020 are eligible for the separation pay program. The following is a listing of the departments, job titles, and ages of employees
in the decisional unit who were and were not selected for layoff and offered separation pay in exchange for the release and ADEA waiver in the attached agreement. Only those employees selected for layoff are eligible for the separation pay in
exchange for the release and ADEA waiver. 
  

													
	 Job Title
	  	Age	 	  	Selected	 	  	Not
Selected	 
	 Chairman, President & CEO
	  	 	71	 	  	 	1	 	  			
	 Chief Administrative Officer & Chief Legal Officer
	  	 	54	 	  	 	1	 	  			
	 SVP, General Counsel & Secretary
	  	 	45	 	  	 	1	 	  			
	 Chief Medical Officer
	  	 	44	 	  	 	1	 	  			

  

					
		 		 	Separation Agreement

 APPENDIX B 

PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT 

  

					
		 		 	Separation Agreement

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