Document:

EX-10.10

 Exhibit 10.10 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made as of April 6, 2011 (the “Effective
Date”) by and between Akebia Therapeutics, Inc., a Delaware corporation (the “Company”), and Dr. Robert Shalwitz, an individual resident in the State of Ohio (“Executive”). 

1. Employment; Duties; Full Time Employment. 

(a) General. The Company hereby agrees to continue to employ Executive, and Executive hereby accepts continued employment, as Chief Medical
Officer and Vice President of the Company. The Company and Executive acknowledge and agree that Executive’s employment commenced on May 2, 2007 (the “Commencement Date”). In such capacity, Executive shall perform such
executive duties and exercise such powers for the Company and its subsidiaries as the Board of Directors of the Company (the “Board”) may lawfully assign to or vest in Executive from time to time. Executive covenants and agrees
that, at all times during the Term (as defined below), Executive shall devote Executive’s full business time and efforts to Executive’s duties as an employee of the Company and that Executive will not, directly or indirectly, engage or
participate in any other business or professional activities during the Term, other than non-conflicting personal investments managed on Executive’s personal time and activities for non-profit institutions, provided that such activities do not
interfere or conflict with Executive’s obligations hereunder. 
 (b) Location. Executive acknowledges and agrees that the Company is
currently located in Cincinnati, however the Company will shortly be evaluating whether the Company should relocate to (or co-locate in) Boston or San Francisco. Subject to the balance of this subsection, Executive is expected to spend a minimum of
two (2) working days a week (exclusive of travel time) in Cincinnati or, Boston or San Francisco (if the Company does relocate or co-locate to Boston or San Francisco or other relevant city), as appropriate, to perform his services for the
Company. However, for any week that Executive is already traveling for Company business to a destination other than where the Company is then located, the requirement in the previous sentence shall not apply. If the Company adopts a plan for
relocation or co-location as provided in this Section 1(b), and Executive is selected as a candidate for such relocation or co-location, then (i) Executive shall relocate or co-locate in accordance with the plan, and
(ii) subject to Section 4 (Business Expenses) and to the foregoing plan, the Company shall pay the out-of-pocket costs of renting an apartment in support of the plan (the selection of which apartment shall be subject to the
Company’s prior written consent) and shall reimburse reasonable out-of-pocket travel costs directly related to the relocation and/or co-location. The weekly schedule in effect from time-to-time can be adjusted with the verbal agreement of the
CEO based on business needs and the need for business related travel to various destinations. Notwithstanding the foregoing, Executive’s obligation under this Section 1(b) to relocate (or co-locate) shall expire on the first
anniversary of the date hereof unless by then the Company has adopted a relocation or co-location plan. 
 2. Term. The Company
agrees to continue to employ Executive, and Executive agrees to continue to serve the Company, on an “at will” basis, which means that, subject to the payment obligations imposed on the Company pursuant to this Agreement, either the
Company 

 
or Executive may terminate Executive’s employment with the Company at any time, with or without Cause, as provided in Section 5 below. The period commencing with the Commencement
Date and ending on the effective date of any termination of employment in accordance with the provisions hereof shall constitute the term of this Agreement (the “Term”). 

3. Compensation and Benefits. From and after the Effective Date, the Company shall provide Executive with the following compensation
and benefits: 
 (a) Base Salary. The Company shall pay Executive a base salary (“Base Salary”) at the rate of
$269,280 per annum (less applicable deductions and withholdings), payable in periodic payments in accordance with the Company’s normal payroll practices. During the Term, Executive’s compensation shall be reviewed by the Board from time to
time and at least once every 12 months. Any increase or decrease in Base Salary (together with the then existing Base Salary) shall serve as the “Base Salary” under this Agreement. 

(b) Discretionary Bonuses. The Executive shall be eligible to participate in all bonus or similar incentive plans adopted by the Board
including, without limitation, an incentive compensation plan with a yearly performance based cash bonus of up to a maximum of 20% of the Executive’s Base Salary (the “Target Bonus”). Under the current incentive compensation
plan, the Board reviews the Company’s and the Executive’s performance for the 12 months ending June 30th and pays any bonus to be awarded during the month of July. Executive will
not accrue or earn any bonus (including a prorated bonus) for any bonus evaluation period if Executive’s employment terminates for any reason before the end of such period. See also Section 5 for rules relating to payment of bonus
following termination. 
 (c) Stock Ownership. The provisions of this Agreement shall not alter or modify the terms (including,
without limitation, any vesting provisions) of any stock options or restricted stock granted to the Executive by the Company or which the Executive has purchased from the Company in connection with the Company’s fundraising activities, which
shall be governed in all respects by the equity compensation or other related plan pursuant to which such options/restricted stock are granted and the respective stock option/restricted stock agreement(s) evidencing the same or, as applicable, the
investment/stock purchase documents under which such stock was acquired (the “Governing Documents”). Except for the above, any rights afforded the Executive as part of a purchase of Preferred Stock, and except as otherwise may be
determined by the Board from time to time after the date of this Agreement in its discretion, Executive shall not have any right to be issued shares of the Company’s capital stock or options, warrants or other rights to acquire any capital
stock of the Company. 
 (d) Other Compensation and Benefits. In addition to the compensation specified above in this
Section 3, Executive shall be entitled to the following benefits during the Term, all on the terms offered or maintained by the Company to, for or on behalf of its senior executives: vacation (on the terms in 3(e) below), holidays and
sick leave, and subject to eligibility therefor, the right to participate in any profit sharing plan, retirement plan, 401(k) plan, group medical plan, group dental plan, and/or other health or insurance plan maintained by the Company for its senior
executives generally and, if applicable, their family members. Executive will also be eligible for the paid holidays as are generally made available to employees of the Company. The Company agrees to pay 100% of the premium associated with the
Executive’s and 50% of the premium associated with the Executive’s spouse’s/eligible dependents’ participation in the Company-sponsored group medical and dental insurance plan. 

  
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 (e) Vacation. The Executive shall be entitled to four weeks paid vacation per calendar
year to be taken at such times as may be approved by the Board (which is more than the normal amount defined in the Akebia Employee Handbook). An aggregate of up to 1 week of unused vacation time may be carried over at the end of a calendar year.
Upon termination of the Executive’s employment, the Company will pay the Executive for unused vacation at the Executive’s Base Salary rate (subject to normal deductions and withholding amounts) on the next regularly scheduled pay date
immediately following the termination date. 
 4. Business Expenses. The Company shall reimburse Executive for all reasonable and
necessary business and travel expenses incurred by Executive in the performance of Executive’s duties under this Agreement. Such expenses shall be reimbursed in accordance with the Company’s guidelines, limits and procedures relating
thereto and upon presentation of proper expense vouchers or receipts therefor. 
 5. Termination. This Agreement and the
Executive’s employment by the Company shall or may be terminated, as the case may be, as set forth in this Section 5. See also Section 2. 

Upon termination of Executive’s employment with the Company, all salary and bonuses that have accrued through the date of termination plus an amount
equal to Executive’s unused vacation through the termination date shall be paid (subject to normal deductions and withholding amounts) on the next regularly scheduled payroll date of the Company following the date of termination. See
Section 3(b) regarding when bonuses are considered to have been accrued. 
 Subject to Executive’s (i) complying with the provisions of
Section 6 below, and (ii) delivering to the Company prior to the 53rd day after the date of termination an effective, general release of claims in favor of the Company or its successor, its subsidiaries and their respective
directors, officers and stockholders in a form acceptable to the Company or its successor, the Executive may also be entitled to receive additional compensation as set forth below. 

(a) Termination on Death or Disability. The Term will terminate automatically and immediately upon Executive’s death or, upon 30
days prior written notice from the Company, in the event of Executive’s Disability. For purposes of this Section 5, Executive shall be deemed to be under a “Disability” when a qualified medical doctor mutually
acceptable to the Company and the Executive or the Executive’s personal representative shall have certified in writing that: (A) the Executive is unable, because of a medically determinable physical or mental disability, to substantially
perform all of the Executive’s duties, with or without a reasonable accommodation, for more than an aggregate of one hundred and eighty (180) calendar days in any 365 day period; or (B) by reason of mental or physical disability, it
is unlikely that the Executive will be able, within an aggregate one hundred and eighty (180) calendar days within any 365 day period, to substantially resume all business duties and responsibilities in which the Executive was previously
engaged and otherwise discharge the Executive’s duties under this Agreement. 

  
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 (b) Severance Benefits on Termination. The Executive’s employment may be terminated
at any time for any reason; provided, however, that if the Executive’s employment is terminated (1) by the Company for any reason other than those listed in Sections 5(a) or 5(c) below; (2) by the Executive for
“Good Reason” (as defined in Section 5(d) below); or (3) as a result of the events particularly described in Section 5(e) below, then the Executive, if he complies with the requirements of subsection
(ii) of the third paragraph of Section 5 above (in the sentence commencing with the words “Subject to Executive’s”), and the Executive has not revoked the release provided thereby, shall be entitled to receive the
following severance benefits from the Company (or an acquiror/NewCo, if applicable) (collectively, the “Severance Benefits”) (subject to applicable deductions and mandatory withholding, including federal, state and local income
taxes, as well as FICA and other applicable withholding): 
 (i) Executive shall be entitled to severance in the form of continuation of
Executive’s Base Salary in effect on the effective date of termination for a period of six months, to be paid periodically in accordance with the Company’s normal payroll practices and subject to standard payroll deductions and
withholdings, commencing on the next regularly scheduled payroll date of the Company on or after the 61st day after the date of termination. 

(ii) If Executive timely elects continued coverage under COBRA, then (A) the Company shall make such COBRA coverage (or equivalent
medical benefits after the termination of COBRA) available for at least 24 months following termination and (B) the Company shall pay the COBRA premiums necessary to continue Executive’s medical insurance coverage in effect on the
termination date with respect to a period of six months following Executive’s termination (provided that such COBRA continuation and reimbursement shall terminate upon commencement of new employment by an employer that offers health care
coverage to its employees), with payment of the reimbursement to be made on the 61st day after the date of termination with respect to any such month that ends on or before such day and on the last day of each such month that ends after such day.

 (iii) If Executive timely elects continued coverage, without regard to whether the Executive has delivered the release provided for in
subsection (ii) of the second paragraph of Section 5 above, the Company will continue for a period of six months his Company-sponsored group insurance benefits (other than health insurance) that Executive participated in immediately
prior to the termination date, if any, including without limitation life insurance (if then-applicable), accidental death & dismemberment insurance, long-term disability insurance, short-term disability insurance, supplemental disability
insurance, and long-term care insurance (the “Benefits Payment”). 
 (c) Termination by the Company for Cause.
Notwithstanding any provision of this Agreement, in no event shall the Executive be entitled to receive any Severance Benefits hereunder in the event the Company elects to terminate the employment of the Executive for “cause,” as
hereinafter defined. For purposes of this Agreement, “cause” shall mean (i) Executive’s failure to substantially perform Executive’s duties under this Agreement for reasons other than death or Disability, which
failure, if curable, is not cured to the reasonable satisfaction of the Board during the fifteen (15) day period following written notice of such failure from the Company; (ii) Executive’s material failure or refusal to comply with
reasonable written policies, standards and regulations established by the Company from time to time which 

  
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failure, if curable, is not cured to the reasonable satisfaction of the Board during the fifteen (15) day period following written notice of such failure from the Company; (iii) the
commission by Executive of (x) an act of dishonesty or constituting common law fraud, embezzlement or a felony or (y) any tortious act, unlawful act or malfeasance that causes or reasonably would cause (for example, if it became publicly
known) material harm to the Company’s standing, condition or reputation; or (iv) any material breach by Executive of the provisions of this Agreement, which breach, if curable, is not cured to the reasonable satisfaction of the Board
during the fifteen (15) day period following written notice of such breach from the Company. The Board (excluding Executive if Executive is at such time a member of the Board) shall make all determinations relating to termination, including
without limitation any determination regarding cause, pursuant to this Section 5(c). 
 (d) Good Reason. For purposes of
this Agreement, “Good Reason” shall mean any of the following without the consent of the Executive: (i) a material diminution in the Executive’s position, duties or responsibilities from those held by or assigned to the
Executive as of the Effective Date, (ii) a reduction of the Executive’s Base Salary, or (iii) a material reduction of the Executive’s benefits or bonus/incentive compensation opportunities provided to the Executive as then in
effect, so long as he is the only executive to suffer such a reduction. 
 (e) Change of Control Termination. The Executive and the
Company agree that the Executive shall be paid the Severance Benefits specified in Section 5(b)(i), (ii) and (iii) above if the Executive’s employment terminates in connection with or within 6 months following a change of
control (as described below) because either (i) the acquiror/NewCo does not offer the Executive employment on at least materially comparable compensation terms and benefits (including severance obligations) to those that are provided to the
Executive pursuant to this Agreement; or (ii) such terms are initially offered and accepted, but within 6 months following the change of control the Executive’s employment with the acquiror/NewCo is terminated as a result of any of the
events described in Section 5(b). For purposes of this Agreement a change of control shall be deemed to have occurred upon a transfer (or license on an exclusive basis) of all or substantially all of the assets of the Company or the
transfer of ownership of more than a majority of the securities of the Company, whether in a single transaction or series of separate transactions, other than in connection with fundraising activities of the Company, including without limitation a
transaction in which a portion of the assets of the Company are transferred to an acquiror and the Company does not continue as a going concern during the 6 months thereafter, or its remaining assets are moved following such transfer to an acquiror
to a NewCo (regardless of whether the NewCo stockholders are existing Company stockholders) and such Newco does not continue as a going concern during the 6 months after such transfer to such acquiror. If a party obtains an option to close a
transaction, the transaction will not be considered as having occurred until such option is exercised and the transaction thereafter closed. 

(f) Termination by Executive other than for Good Reason. If the Executive terminates his employment at any time for any reason other
than for Good Reason, the Executive shall not be entitled to any of the Severance Benefits and shall provide the Company with 14 days notice of such termination. 

  
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 6. Company Matters; Restrictive Covenants. 

(a) Confidential Information. Executive will have access to and will participate in the development of and will be acquainted with
confidential or proprietary information and trade secrets related to the business of the Company and its affiliates, including but not limited to (i) customer lists; related records and compilations of information; the identity, lists or
descriptions of any customers, referral sources or organizations; financial statements; cost reports or other financial information; contract proposals or bidding information; business plans; training and operations methods and manuals; personnel
records; software programs; reports and correspondence; and management systems, policies or procedures, including related forms and manuals, (ii) information pertaining to future developments such as future marketing or acquisition plans or
ideas and potential new business locations; and (iii) all other tangible and intangible property and intellectual property which is used in the business and operations of the Company and its affiliates but not made public. The foregoing is
collectively referred to as the “Confidential Information.” The term Confidential Information shall not include any information (x) that is or becomes generally publicly available (other than as a result of violation of this
Agreement by Executive), or (y) that Executive receives on a non-confidential basis from a source (other than the Company, its affiliates or their representatives) that is not known by Executive to be bound by an obligation of secrecy or
confidentiality to any of the Company or its affiliates. Executive shall not disclose, use or make known any Confidential Information for Executive’s or another’s benefit or use such Confidential Information in any way other than for the
benefit of and use on behalf of the Company and its affiliates. Upon the termination of Executive’s employment with the Company for any reason, Executive shall immediately return to the Company all Confidential Information in whatever form
maintained (including, without limitation, computer discs and other electronic media). 
 (b) Non-Competition. During
Executive’s employment with the Company and for the one-year period immediately following the termination of Executive’s employment with the Company, Executive will not directly or indirectly (whether as an officer, director, stockholder,
partner, proprietor, associate, representative, consultant or in any capacity whatsoever) engage in, become financially interested in, be employed by or have any business connection with any person, corporation, firm, partnership or any other entity
whatsoever which competes with the Company in any area where the Company operates, or has operated at any time during Executive’s employment with the Company, or any area the Company has planned to expand into at any time during
Executive’s employment with the Company. 
 (c) Nonsolicitation of Customers. During Executive’s employment with the
Company and for the one-year period immediately following the termination of Executive’s employment with the Company, Executive shall not solicit, directly or indirectly, any customers of the Company or of its affiliates who or which were
customers of the Company at any time during Executive’s employment with the Company, nor shall Executive solicit any potential customers of the Company or of its affiliates with whom Executive had contact on behalf of the Company or its
affiliates during Executive’s employment with the Company. 
 (d) Nonsolicitation of Employees. During Executive’s
employment with the Company and for the one-year period immediately following the termination of Executive’s 

  
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employment with the Company, Executive shall not solicit or hire, directly or indirectly, on Executive’s behalf or on behalf of any other person or entity, any person employed by the Company
or its affiliates during the prior six month period except with the specific written consent of the Company. 
 (e) Certain
Representations. Executive represents that Executive’s experience, capabilities and circumstances are such that the provisions of this Agreement will not prevent Executive from earning a livelihood. Executive further agrees that the
limitations set forth in this Agreement (including, without limitation, the time and territorial limitations) are reasonable and properly required for the adequate protection of the current and future businesses of the Company and its affiliates.
Executive further acknowledges that a remedy at law for any breach or threatened breach of the provisions of this Agreement would be inadequate and will cause immediate and irreparable harm to the Company or its affiliates in a manner that cannot be
measured nor adequately compensated in damages. Executive further acknowledges that in the event of any such breach and in addition to any and all other remedies that it may have at law or in equity, the Company or its affiliates shall be entitled
to temporary, preliminary and permanent injunctive relief to restrain such breach by Executive and to recover all costs and expenses, including reasonable attorneys’ fees, of any proceedings brought to obtain such injunctive relief. Nothing
contained herein shall restrict or limit in any manner the Company’s right to seek and obtain any form of relief, legal or equitable, against Executive in an action brought to enforce its rights hereunder. 

(f) Intellectual Property. All ideas, concepts, inventions, improvements, programs, information technology, derivative works,
processes, configurations, data, procedures, designs, techniques and other works of authorship and development made, conceived or reduced to practice by Executive, either solely or in collaboration with others, during Executive’s employment
with the Company, including but not limited to all copyright, trademark, patent, trade secret and intellectual property rights associated therewith, shall become and remain the exclusive property of the Company. Executive hereby assigns to the
Company any and all of Executive’s right, title and interest in and to any of the foregoing, and Executive waives any claim that Executive may have thereto. Executive will promptly disclose in writing to the Company all such ideas, concepts,
inventions, improvements, programs, information technology, derivative works, processes, configurations, data, procedures, designs, techniques and other works of authorship and development, and will cooperate fully with the Company in confirming and
protecting the Company’s ownership rights therein. The work product resulting from the Executive’s employment with the Company is work made for hire. For clarity, however, nothing in this Agreement is intended to assign ownership to the
Company of any of the foregoing that is developed by the Executive entirely on the Executive’s own time without using the Company’s equipment, supplies, facility or trade secret information and that does not relate to the Company’s
business or research or development, as conducted or as it might be conducted or formulated. 
 (g) Ventures. If, during the Term,
Executive is engaged in or associated with the planning or implementing of projects, programs or ventures involving the Company and third parties, all rights in such projects, programs and ventures shall belong to the Company (or the third party, to
the extent provided in any agreement between the Company and the third party). Except as formally approved by the Company, Executive shall not be entitled to any interest in 

  
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such project, program or venture or to any commission, finder’s fee or other compensation in connection therewith other than the salary or other compensation to be paid to Executive as
provided in this Agreement. 
 (h) Resignation on Termination. On termination of Executive’s employment, Executive shall
immediately (and with contemporaneous effect) resign any directorships, offices or other positions that Executive may hold in the Company or any of its affiliates, unless otherwise requested by the Board. 

7. Miscellaneous. 
 (a)
Withholding Taxes. The Company may withhold from all salary, bonus or other benefits payable under this Agreement all federal, state, city or other taxes as shall be required pursuant to any law or governmental regulation or ruling. 

(b) Entire Agreement; Binding Effect. This Agreement sets forth the entire understanding between the parties as to the subject matter
of this Agreement and supersedes all prior agreements, commitments, representations, writings and discussions between them (whether written or oral) on the subject matters herein, except for the Governing Documents. Neither of the parties shall be
bound by any obligations, conditions, warranties or representations with respect to the subject matter of the foregoing except as expressly provided herein or therein or as duly set forth on or subsequent to the date hereof in a written instrument
signed by the proper and fully authorized representative of the party to be bound hereby. This Agreement is binding on Executive and on the Company and their respective successors and assigns (whether by assignment, by operation of law or
otherwise); provided that neither this Agreement nor any rights or obligations hereunder may be assigned by Executive or the Company without the prior written consent of the other party (except that the Company shall be entitled to assign this
Agreement in connection with the sale of all or substantially all of the Company’s assets or stock, or a merger or consolidation in which the Company is not the surviving entity). The Governing Documents pertaining to equity awards and stock
acquisitions shall not be affected by this Agreement and shall continue in full force and effect. 
 (c) Absence of Conflict.
Executive represents and warrants that Executive’s employment by the Company as described herein will not conflict with and will not be constrained by any prior employment or consulting agreement or relationship. 

(d) Voluntary Nature of Agreement; Legal Rights. Executive is executing this Agreement voluntarily and without any duress or undue
influence by the Company or anyone else. Executive acknowledges that Executive has had the opportunity to consult with an attorney regarding the provisions of this Agreement and has either obtained such advice of counsel or knowingly waived the
opportunity to seek such advice. Executive has carefully read this Agreement and has asked any questions needed for Executive to understand the terms, consequences and binding effect of this Agreement and fully understand it, including that
Executive is waiving Executive’s right to a jury trial. 
 (e) Waivers. No party shall be deemed to have waived any right, power
or privilege under this Agreement or any provisions hereof unless such waiver shall have been duly 

  
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executed in writing and acknowledged by the party to be charged with such waiver. The failure of any party at any time to insist on performance of any of the provisions of this Agreement shall in
no way be construed to be a waiver of such provisions, nor in any way to affect the validity of this Agreement or any part hereof. No waiver of any breach of this Agreement shall be held to be a waiver of any other subsequent breach. 

(f) Notices. All notices, approvals, consents, requests or demands required or permitted to be given under this Agreement shall be in
writing and shall be deemed sufficiently given (i) upon delivery, if delivered by hand (ii) one business day after transmission, if sent by facsimile (confirmation received) or (iii) one business day after the business day of deposit
with a reputable overnight courier for next business day delivery, freight prepaid (signature of receipt obtained). Notice in each case shall be addressed to the party entitled to receive such notice at the following address (or other such addresses
as the parties may subsequently designate): 
 The Company: 

Akebia Therapeutics, Inc. 
 Attn:
President 
 9987 Carver Road, Suite 420 

Cincinnati, Ohio 45242 
 Fax:
513.985.1920 
 With copies to Company counsel and the Chair of the Company’s Compensation Committed, as follows: 

Thompson Hine LLP 
 312 Walnut
Street, Suite 1400 
 Cincinnati, Ohio 45202 

Attn: David J. Willbrand, Esq. 

Fax: (513) 241-4771 

Akebia Therapeutics, Inc. 

Attn: Chair of Compensation Committee 

9987 Carver Road, Suite 420 

Cincinnati, Ohio 45242 
 Fax:
513.985.1920 
 Executive: 

Robert Shalwitz, M.D. 
 2549
Bryden Rd 
 Bexley, OH 43209 

(g) Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of Ohio as they apply
to contracts entered into and wholly to be performed therein by residents thereof. 

  
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 (h) Severability. Every provision of this Agreement is intended to be severable from every
other provision of this Agreement. If any provision of this Agreement is held to be invalid, illegal or unenforceable, in whole or in part, such invalidity, illegality or unenforceability shall not affect the other provisions of this Agreement; and
this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein except to the extent that such provision may be construed and modified so as to render it valid, lawful, and enforceable in a
manner consistent with the intent of the parties to the extent compatible with the applicable law as it shall then appear. 
 (i) 409A
Matters. This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended and the Treasury Regulations and other applicable guidance thereunder (“Section 409A”). To
the extent that there is any ambiguity as to whether this Agreement (or any of its provisions) contravenes one or more requirements of Section 409A, such provision shall be interpreted and applied in a matter that does not result in a
Section 409A violation. Without limiting the generality of the above: 
 (i) For clarity, the Severance Benefits are only payable upon
a termination of the Executive’s employment that constitutes a “separation from service” as defined in Section 409A, or the Executive’s death. 

(ii) The Severance Benefits shall be deemed to be series of separate payments, with each installment being treated as a separate payment.

 (iii) The time and form of payment of any compensation may not be deferred or accelerated to the extent it would result in an
impermissible acceleration or deferral under Section 409A. 
 (iv) To the extent this Agreement contains payments which are subject to
Section 409A (as opposed to exempt from Section 409A), the Employee’s rights to such payments are not subject to assignment, anticipation, alienation, sale, transfer, pledge, encumbrance, attachment or garnishment and, where
applicable, may only be transferred by will or the laws of descent and distribution. 
 (v) If the Employee is a “specified
employee” (as defined in Section 409A) on the termination date and a delayed payment is required by Section 409A to avoid a prohibited distribution under Section 409A, then no Severance Benefits that constitute “nonqualified
deferred compensation” under Section 409A shall be paid until the earlier of (i) the first day of the 7th month following the date of Employee’s “separation from
service” as defined in Section 409A, or (ii) the date of Employee’s death. Upon the expiration of the applicable deferral period, all payments deferred under this clause shall be paid in a lump sum and any remaining severance
benefits shall be paid per the schedule specified in this Agreement. 
 (j) Effect of Headings. The Section and subsection headings
contained herein are for convenience only and shall not affect the construction hereof. 

  
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 (k) Counterparts. This Agreement may be executed in multiple counterparts, each of which
shall be deemed to be an original, and all such counterparts shall constitute but one instrument. 
 Signature Page Follows

  
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 Exhibit 10.10 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the year and date first written above. 

 

			
	AKEBIA THERAPEUTICS, INC.
		
	By:	 	 /s/ Joseph Gardner

	Name:	 	Joseph Gardner
	Title:	 	President and Chief Executive Officer
	
	EXECUTIVE
	
	 /s/ Robert Shalwitz, M.D.

	Robert Shalwitz, M.D.

 [Signature page to Shalwitz’s Employment Agreement]EX-10.11

 Exhibit 10.11 

 
 SENT VIA EMAIL 

January 7, 2012 
 William Daly 

13 Via Abrazar 
 San Clemente, CA 92673 

949-498-8220 
 Dear Bill: 

It is my pleasure to extend the following offer of employment to you on behalf of Akebia Therapeutics, Inc. Akebia is proud of its achievements to date and we
are looking to individuals such as yourself to play a key role in partnering our exciting drug products. We are convinced that you can make an immediate impact, and we are excited about your future growth potential. In short, we want you on our
team. 
 This letter confirms to you Akebia’s offer of employment, the terms of our offer are as follows: 

1. Position/Expectations: Senior Vice President of Business Development, Akebia Therapeutics, Inc., reporting to Joseph Gardner, Chief Executive
Officer. You will be overall business development leader for out anemia program, including our current lead AKB-6548, and our HPTPß program for vascular leak on behalf of Aerpio Therapeutics (a “spin out” company from Akebia). Your
responsibilities will include all partnering and sale of asset activities on both AKB-6548 and AKB-9778. You will be working closely and collaboratively with Ian Howes, CFO in this regard. As a commuting employee you are expected to spend at least 3
days a week in Cincinnati for the first four months of employment (the start up period). Commuting costs will be covered by the Company in a manner consistent with other commuting executives. The commuting schedule can be adjusted, both during and
subsequent to the start up period, based on business needs with the verbal agreement of Joseph Gardner, CEO. Your start date will be as soon as feasible, preferably on or around January 23, 2012. 

2. Compensation: 
 (i) A base salary of
$275,000 per year, paid monthly. 
 (ii) In addition to your base salary, you will receive Incentive Compensation (pending Board approval):

 (a) Incentive Compensation will include performance based cash bonuses up to a maximum of 20% of salary per year, and participation in the
company stock option plan with a target restricted stock allocation of 3,004,705 shares (corresponding to approximately 0.75% of total company shares, with vesting terms as described in the Company Equity Award agreement) subject to Board approval.

 3. Performance / Salary Reviews: The current policy, subject to change without notice, is that reviews are
conducted on an annual basis. See Employee Handbook for more details regarding policies and expectations for employees of Akebia Therapeutics, Inc. 
 4.
Benefits: You will be entitled to participate in all applicable benefit programs as currently, or prospectively, offered by Akebia Therapeutics, Inc. The Company is committed to providing comprehensive and competitive benefits to its employees.
The Company has a plan to provide for health care and dental insurance, and as an employee you and your family will be eligible to join those plans. The Company has a plan in place to provide disability insurance and is developing a benefit plan
that will include life insurance. The Company also provides a 401K plan allowing employees to place pre-tax dollars in a retirement account up to the maximum permitted by law. We will provide more detailed information regarding these plans and any
future additions/modifications to our benefit plans when available. The Company will provide twenty (20) days of paid time off (PTO) per calendar year, plus holidays, as defined and allocated in the Akebia Employee Handbook. The number of
vacation days available to you in 2012 is on a prorated basis depending on start date and percent year remaining. In addition to our “hard” benefits we offer a host of “soft” benefits such as a fun, flexible and stimulating work
environment and the rewards of developing important new medicines. 
 5. Contingencies: Additionally, this offer is contingent upon your
(i) submission of appropriate documentation for verification purposes in order that the Company may be in compliance with the immigration and Reform Control Act of 1986, as amended. Subsequent to accepting our offer Akebia expects all employees
to complete and have in force an Employee Agreement which will be sent in a subsequent mailing. The Employee contract will specify “the following benefit relative to severance pay- 3 months severance (salary and benefits) for the first 6
months. Then 6 months severance after the employee achieves 6 months of employee history (assuming that termination/separation from Company is not “for cause”). 

6. Employment at Will: The parties hereto recognize that this offer of employment is not intended to create a contract of employment and both Akebia
and the employee retain the right to terminate the employment relationship at any time without cause. 
 7. Covenants, Company Matters - Confidentiality
and Assignment of Rights: Employee shall not disclose, use or make known for Employee’s or another’s benefit other than for the benefit of the Company and its affiliates any Company Confidential Information (as further defined and
elaborated in the Employee Agreement). 
 All ideas, concepts, inventions, improvements, programs, information technology, derivative works, processes,
configurations, data, procedures, designs, techniques and other works of authorship, conceived or reduced to practice by Employee, either solely or in collaboration with others, during Employee’s employment with the Company, including but not
limited to all 

  

			
	Akebia Therapeutics, Inc.	  	CONFIDENTIAL

  
 2 

 
copyright, trademark, patent, trade secret and intellectual property rights associated therewith, shall become and remain the exclusive property of the Company. Employee hereby assigns to the
Company any and all of Employee’s right, title and interest in and to any of the foregoing, and Employee waives any claim that Employee may have thereto (as further defined and elaborated in the Employee Agreement). 

To indicate acceptance, please sign and return a copy of this letter (via fax, pdf or regular mail). 

Bill we look forward to you joining Akebia Therapeutics, Inc. Teamwork, quality people, and a business focus, are all critical to Akebia’s future
success. We are confident that you will play an important role in our success over the coming year and well into the future. 
  

			
	Very truly yours,
	
	Akebia Therapeutics, Inc.
		
	By:	 	 /s/ Joseph H. Gardner

	Name:	 	Joseph H. Gardner
	Title:	 	President and Chief Executive Officer
		
	cc:	 	Ian Howes, Chief Financial Officer

  
  

The undersigned accepts the above employment offer, agrees that it contains partial terms of employment with Akebia Therapeutics, Inc. By accepting this offer
of employment, the undersigned is acknowledging that no prior employment obligations or other contractual restrictions exist which preclude employment with Akebia Therapeutics, Inc. It is further understood that this offer is confidential and
disclosure of any of the terms and conditions contained herein constitute grounds for termination of employment or withdrawal of this offer. 
  

					
	Accepted:	 		 	
			
	 /s/ William Daly
	 		 	 1/8/2012

	William Daly	 		 	Date:

  

			
	Akebia Therapeutics, Inc.	  	CONFIDENTIAL

  
 3

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