Document:

Exhibit
4.1

 

KYTO
TECHNOLOGY AND LIFE SCIENCE, INC.

2021 STOCK AND INCENTIVE PLAN

 

Section
1. Purpose

 

The
purpose of the Plan is to promote the interests of the Company and its stockholders by aiding the Company in attracting and retaining
employees, officers, consultants, advisors and Directors capable of assuring the future success of the Company, to offer such persons
incentives to put forth maximum efforts for the success of the Company’s business and to compensate such persons through various
stock-based arrangements and provide them with opportunities for stock ownership in the Company, thereby aligning the interests of such
persons with the Company’s stockholders.
 

Section
2. Definitions
 

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

(a)
“Affiliate” shall mean (i) any entity that, directly or indirectly through one or more intermediaries, is controlled
by the Company and (ii) any entity in which the Company has a significant equity interest, in each case as determined by the Committee.
 

(b)
“Award” shall mean any Option or Restricted Stock granted under the Plan.
 

(c)
“Award Agreement” shall mean any written agreement, contract or other instrument or document evidencing an Award granted
under the Plan (including a document in an electronic medium) executed in accordance with the requirements of Section 9(b).
 

(d)
“Board” shall mean the Board of Directors of the Company.
 

(e)
“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and any regulations promulgated
thereunder.
 

(f)
“Committee” shall mean a committee or subcommittee of the Board appointed from time to time by the Board. The Committee
shall be comprised of not less than such number of Directors as shall be required to permit Awards granted under the Plan to qualify
under Rule 16b 3, and each member of the Committee shall be a Director within the meaning of Rule 16b-3. Notwithstanding the foregoing,
if, and to the extent that no Committee exists which has the authority to administer this Plan, the functions of the Committee shall
be exercised by the Board and all references herein to the Committee shall be deemed to be references to the Board.
 

(g)
“Company” shall mean Kyto Technology and Life Science, Inc., a Delaware corporation and any successor corporation.
 

(h)
“Director” shall mean a member of the Board.
 

(i)
“Eligible Person” shall mean any employee, officer, Director, consultant, independent contractor or advisor providing
services to the Company or any Affiliate, or any such person to whom an offer of employment or engagement with the Company or any Affiliate
is extended.
 

    	 

     

    

 

(j)
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.
 

(k)
“Fair Market Value” with respect to of one Share as of any date shall mean (a) if the Share is listed on any established
stock exchange, the price of one Share at the close of the regular trading session of such market or exchange on such date, as reported
by The Wall Street Journal or a comparable reporting service, or, if no sale of Shares shall have occurred on such date, on the next
preceding date on which there was a sale of Shares; (b) if the Shares are not so listed on any established stock exchange, the average
of the closing “bid” and “asked” prices quoted by the OTCQB, the National Quotation Bureau, or any comparable
reporting service on such date or, if there are no quoted “bid” and “asked” prices on such date, on the next
preceding date for which there are such quotes for a Share; or (c) if the Shares are not publicly traded as of such date, the per share
value of a Share, as determined by the Board, or any duly authorized Committee of the Board, in its sole discretion, by applying principles
of valuation with respect thereto.
 

(l)
“Incentive Stock Option” shall mean an option granted under Section 6(a) of the Plan that is intended to meet the
requirements of Section 422 of the Code or any successor provision.
 

(m)
“Non-Qualified Stock Option” shall mean an option granted under Section 6(a) of the Plan that is not intended to be
an Incentive Stock Option.
 

(n)
“Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option to purchase shares of the Company.
 

(o)
“Participant” shall mean an Eligible Person designated to be granted an Award under the Plan.
 

(p)
“Person” shall mean any individual or entity, including a corporation, partnership, limited liability company, association,
joint venture or trust.
 

(q)
“Plan” shall mean the Kyto Technology and Life Science, Inc. 2021 Stock and Incentive Plan, as amended from time to
time.
 

(r)
“Restricted Stock” shall mean any Share granted under Section 6(c) of the Plan.
 

(s)
“Rule 16b3” shall mean Rule 16b3 promulgated by the Securities and Exchange Commission under the Securities Exchange
Act of 1934, as amended, or any successor rule or regulation.
 

(t)
“Section 409A” shall mean Section 409A of the Code, or any successor provision, and applicable Treasury Regulations
and other applicable guidance thereunder.
 

(u)
“Securities Act” shall mean the Securities Act of 1933, as amended.
 

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(v)
“Share” or “Shares” shall mean common shares $0.01 par value in the capital of the Company (or
such other securities or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan).
 

(w)
“Specified Employee” shall mean a specified employee as defined in Section 409A(a)(2)(B) of the Code or applicable
proposed or final regulations under Section 409A, determined in accordance with procedures established by the Company and applied uniformly
with respect to all plans maintained by the Company that are subject to Section 409A.
 

Section
3. Administration
 

(a)
Power and Authority of the Committee. The Plan shall be administered by the Committee. Subject to the express provisions of the
Plan and to applicable law, the Committee shall have full power and authority to: (i) designate Participants; (ii) determine the type
or types of Awards to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or the method
by which payments or other rights are to be calculated in connection with) each Award; (iv) determine the terms and conditions of any
Award or Award Agreement, including any terms relating to the forfeiture of any Award and the forfeiture, recapture or disgorgement of
any cash, Shares or other amounts payable with respect to any Award; (v) amend the terms and conditions of any Award or Award Agreement,
subject to the limitations under Sections 6 or 7; (vi) accelerate the exercisability of any Award or the lapse of any restrictions relating
to any Award, subject to the limitations in Sections 6 and 7; (vii) determine whether, to what extent and under what circumstances Awards
may be exercised in cash, Shares, other securities, other Awards or other property (excluding promissory notes), or canceled, forfeited
or suspended, subject to the limitations in Section 7; (viii) determine whether, to what extent and under what circumstances amounts
payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or the
Committee, subject to the requirements of Section 409A; (ix) interpret and administer the Plan and any instrument or agreement, including
an Award Agreement, relating to the Plan; (x) establish, amend, suspend or waive such rules and regulations and appoint such agents as
it shall deem appropriate for the proper administration of the Plan; (xi) make any other determination and take any other action that
the Committee deems necessary or desirable for the administration of the Plan; and (xii) adopt such modifications, rules, procedures
and subplans as may be necessary or desirable to comply with provisions of the laws of non-U.S. jurisdictions in which the Company or
an Affiliate may operate, including, without limitation, establishing any special rules for Affiliates, Eligible Persons or Participants
located in any particular country, in order to meet the objectives of the Plan and to ensure the viability of the intended benefits of
Awards granted to Participants located in such non-United States jurisdictions. Unless otherwise expressly provided in the Plan, all
designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award or Award Agreement shall
be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon any Participant,
any holder or beneficiary of any Award or Award Agreement, and any employee of the Company or any Affiliate.
 

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(b)
Delegation. The Committee may delegate to one or more officers or Directors of the Company, subject to such terms, conditions
and limitations as the Committee may establish in its sole discretion, the authority to grant Awards; provided, however, that the Committee
shall not delegate such authority (i) with regard to grants of Awards to be made to officers or directors of the Company or (ii) in such
a manner as would contravene Section 157 of the Delaware General Corporation Law, as amended. In no event shall any such delegation of
authority be permitted with respect to Awards to any members of the Board or to any Eligible Person who is subject to Rule 16b3 under
the Exchange Act. The Committee shall also be permitted to delegate, to any appropriate officer or employee of the Company, responsibility
for performing certain ministerial functions under the Plan. In the event that the Committee’s authority is delegated to officers
or employees in accordance with the foregoing, all provisions of the Plan relating to the Committee shall be interpreted in a manner
consistent with the foregoing by treating any such reference as a reference to such officer or employee for such purpose. Any action
undertaken in accordance with the Committee’s delegation of authority hereunder shall have the same force and effect as if such
action were undertaken directly by the Committee and shall be deemed for all purposes of the Plan to have been taken by the Committee.
 

(c)
Power and Authority of the Board. Notwithstanding anything to the contrary contained herein, the Board may, at any time and from
time to time, without any further action of the Committee, exercise all the powers and duties of the Committee under the Plan, unless
the exercise of such powers and duties by the Board would cause the Plan not to comply with the requirements of Rule 16b-3 or applicable
law or exchange requirements.
 

Section
4. Shares Available for Awards
 

(a)
Shares Available. Subject to adjustment as provided in Section 4(c) of the Plan, the aggregate number of Shares that may be issued
under all Awards under the Plan shall be 2,000,000 Shares.
 

(b)
Counting Shares. Except as set forth below in this Section 4(b), if an Award entitles the holder thereof to receive or purchase
Shares, the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award
against the aggregate number of Shares available for granting Awards under the Plan. For purposes of determining the number of Shares
covered on the date of grant by an Option, the aggregate number of Shares with respect to which the Option is to be exercised shall be
counted against the number of Shares available for Awards under the Plan (without regard to the number of actual Shares issued upon exercise
or settlement).
 

(c)
Shares Added Back to Reserve. Subject to the limitations in Section 4(d) below, if any Shares covered by an Award or to which
an Award relates are not purchased or are forfeited or are reacquired by the Company (including shares of Restricted Stock, whether or
not dividends have been paid on such shares), or if an Award otherwise terminates or is cancelled without delivery of any Shares, then
the number of Shares counted pursuant to Section 4(b) of the Plan against the aggregate number of Shares available under the Plan with
respect to such Award, to the extent of any such forfeiture, reacquisition by the Company, termination or cancellation, shall again be
available for granting Awards under the Plan.
 

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(d)
Shares Not Added Back to Reserve. Notwithstanding anything to the contrary in Section (c) above, the following Shares will not
again become available for issuance under the Plan: (A) any Shares which would have been issued upon any exercise of an Option but for
the fact that the exercise price was paid by a “net exercise” pursuant to Section 6(a)(v) or any Shares tendered in payment
of the exercise price of an Option; (B) any Shares withheld by the Company or Shares tendered to satisfy any tax withholding obligation
with respect to an Option; or (C) Shares that are repurchased by the Company using Option exercise proceeds.
 

(e)
Substitute Awards Relating to Acquired Entities. Shares issued under Awards granted in substitution for awards previously granted
by an entity that is acquired by or merged with the Company or an Affiliate shall not be counted against the aggregate number of Shares
available for Awards under the Plan.
 

(f)
Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other
property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split up, spinoff, combination,
repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other
securities of the Company or other similar corporate transaction or event affects the Shares such that an adjustment is necessary in
order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the
Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Shares (or other securities
or other property) that thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or other
property) subject to outstanding Awards and (iii) the purchase price or exercise price with respect to any Award, provided, however,
that the number of Shares covered by any Award or to which such Award relates shall always be rounded down to the nearest whole number.
Such adjustment shall be made by the Committee or the Board, whose determination in that respect shall be final, binding and conclusive.
 

Section
5. Eligibility
 

Any
Eligible Person shall be eligible to be designated as a Participant. In determining which Eligible Persons shall receive an Award and
the terms of any Award, the Committee may take into account the nature of the services rendered by the respective Eligible Persons, their
present and potential contributions to the success of the Company or such other factors as the Committee, in its discretion, shall deem
relevant. Notwithstanding the foregoing, an Incentive Stock Option may only be granted to full-time or part-time employees (which term
as used herein includes, without limitation, officers and Directors who are also employees), and an Incentive Stock Option shall not
be granted to an employee of an Affiliate unless such Affiliate is also a “subsidiary corporation” of the Company within
the meaning of Section 424(f) of the Code or any successor provision.
 

Section
6. Awards
 

(a)
Options. The Committee is hereby authorized to grant Options to Eligible Persons with the following terms and conditions and with
such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine:
 

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	 	(i)	Exercise
  Price. The purchase price per Share purchasable under an Option shall be determined by the Committee and shall not be less than
  100% of the Fair Market Value of a Share on the date of grant of such Option; provided, however, that the Committee may designate
  a purchase price below Fair Market Value on the date of grant if the Option is granted in substitution for a stock option previously
  granted by an entity that is acquired by or merged with the Company or an Affiliate.

 

	 	(ii)	Option
  Term. The term of each Option shall be fixed by the Committee at the time of grant but shall not be longer than 10 years from the
  date of grant.

 

	 	(iii)	Time
  and Method of Exercise. The Committee shall determine the time or times at which an Option may be exercised within the Option term,
  either in whole or in part, and the method or methods by which, and the form or forms, including, but not limited to, cash, Shares
  (actually or by attestation), other securities, other Awards or other property, or any combination thereof, having a Fair Market Value
  on the exercise date equal to the applicable exercise price, in which, payment of the exercise price with respect thereto may be made
  or deemed to have been made.

 

	 	(iv)	Promissory
  Notes. For the avoidance of doubt, the Committee may not accept a promissory note as consideration.

 

	 	(v)	Net
  Exercises. The terms of any Option may be written to permit the Option to be exercised by delivering to the Participant a number
  of Shares having an aggregate Fair Market Value (determined as of the date of exercise) equal to the excess, if any, of the Fair Market
  Value of the Shares underlying the Option being exercised, on the date of exercise, over the exercise price of the Option for such
  Shares.

 

	 	(vi)	Incentive
  Stock Options. Notwithstanding anything in the Plan to the contrary, the following additional provisions shall apply to the grant
  of stock options which are intended to qualify as Incentive Stock Options:

 

(A)
The Committee will not grant Incentive Stock Options in which the aggregate Fair Market Value (determined as of the time the Option is
granted) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by any Participant during any
calendar year (under this Plan and all other plans of the Company and its Affiliates) shall exceed $100,000.
 

(B)
All Incentive Stock Options must be granted within ten years from the earlier of the date on which this Plan was adopted by the Board
or the date this Plan was approved by the stockholders of the Company.
 

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(C)
Unless sooner exercised, all Incentive Stock Options shall expire and no longer be exercisable no later than 10 years after the date
of grant; provided, however, that in the case of a grant of an Incentive Stock Option to a Participant who, at the time such Option is
granted, owns (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total combined voting power of all
classes of stock of the Company or of its Affiliates, such Incentive Stock Option shall expire and no longer be exercisable no later
than five years from the date of grant.
 

(D)
The purchase price per Share for an Incentive Stock Option shall be not less than 100% of the Fair Market Value of a Share on the date
of grant of the Incentive Stock Option; provided, however, that, in the case of the grant of an Incentive Stock Option to a Participant
who, at the time such Option is granted, owns (within the meaning of Section 422 of the Code) stock possessing more than 10% of the total
combined voting power of all classes of stock of the Company or of its Affiliates, the purchase price per Share purchasable under an
Incentive Stock Option shall be not less than 110% of the Fair Market Value of a Share on the date of grant of the Incentive Stock Option.
 

(E)
Any Incentive Stock Option authorized under the Plan shall contain such other provisions as the Committee shall deem advisable, but shall
in all events be consistent with and contain all provisions required in order to qualify the Option as an Incentive Stock Option.
 

		(b)	Restricted
                                            Stock. The Committee is hereby authorized to grant an Award of Restricted Stock to Eligible
                                            Persons with the following terms and conditions and with such additional terms and conditions
                                            not inconsistent with the provisions of the Plan as the Committee shall determine:

 

		(i)	Restrictions.
                                            Shares of Restricted Stock shall be subject to such restrictions as the Committee may impose
                                            (including, without limitation, any limitation on the right to vote a Share of Restricted
                                            Stock or the right to receive any dividend or other right or property with respect thereto),
                                            which restrictions may lapse separately or in combination at such time or times, in such
                                            installments or otherwise as the Committee may deem appropriate.

 

		(ii)	Issuance
                                            and Delivery of Shares. Any Restricted Stock granted under the Plan shall be issued at
                                            the time such Awards are granted and may be evidenced in such manner as the Committee may
                                            deem appropriate, including book-entry registration or issuance of a stock certificate or
                                            certificates, which certificate or certificates shall be held by the Company or held in nominee
                                            name by the stock transfer agent or brokerage service selected by the Company to provide
                                            such services for the Plan. Such certificate or certificates shall be registered in the name
                                            of the Participant and shall bear an appropriate legend referring to the restrictions applicable
                                            to such Restricted Stock. Shares representing Restricted Stock that are no longer subject
                                            to restrictions shall be delivered (including by updating the book-entry registration) to
                                            the Participant promptly after the applicable restrictions lapse or are waived.

 

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		(iii)	Forfeiture.
                                            Except as otherwise determined by the Committee, upon a Participant’s termination of
                                            employment or resignation or removal as a Director (in either case, as determined under criteria
                                            established by the Committee) during the applicable restriction period, all Shares of Restricted
                                            Stock held by such Participant at such time shall be forfeited and reacquired by the Company;
                                            provided, however, that the Committee may waive in whole or in part any or all remaining
                                            restrictions with respect to Shares of Restricted Stock.

 

(c)
General.
 

		(i)	Consideration
                                            for Awards. Awards may be granted for no cash consideration or for any cash or other
                                            consideration as may be determined by the Committee or required by applicable law.

 

		(ii)	Awards
                                            May Be Granted Separately or Together. Awards may, in the discretion of the Committee,
                                            be granted either alone or in addition to, in tandem with or in substitution for any other
                                            Award or any award granted under any other plan of the Company or any Affiliate. Awards granted
                                            in addition to or in tandem with other Awards or in addition to or in tandem with awards
                                            granted under any other plan of the Company or any Affiliate may be granted either at the
                                            same time as or at a different time from the grant of such other Awards or awards.

 

		(iii)	Forms
                                            of Payment under Awards. Subject to the terms of the Plan and of any applicable Award
                                            Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant,
                                            exercise or payment of an Award may be made in such form or forms as the Committee shall
                                            determine (including, without limitation, cash, Shares, other securities (but excluding promissory
                                            notes), other Awards or other property or any combination thereof).

 

		(iv)	Limits
                                            on Transfer of Awards. Except as otherwise provided by the Committee in its discretion
                                            and subject to such additional terms and conditions as it determines, no Award (other than
                                            fully vested and unrestricted Shares issued pursuant to any Award) and no right under any
                                            such Award shall be transferable by a Participant other than by will or by the laws of descent
                                            and distribution, or during Participant’s lifetime to one or more of Participant’s
                                            family members or trust for the benefit of any of the foregoing (as defined in Rule 701 promulgated
                                            by the Securities Act of 1933, as amended (“Securities Act”)) through
                                            a gift or a domestic relations order, and no Award (other than fully vested and unrestricted
                                            Shares issued pursuant to any Award) or right under any such Award may be pledged, alienated,
                                            attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance
                                            thereof shall be void and unenforceable against the Company or any Affiliate. The Committee
                                            may establish procedures as it deems appropriate for a Participant to designate a person
                                            or persons, as beneficiary or beneficiaries, to exercise the rights of the Participant and
                                            receive any property distributable with respect to any Award in the event of the Participant’s
                                            death.

 

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		(v)	Restrictions;
                                            Securities Exchange Listing. All Shares or other securities delivered under the Plan
                                            pursuant to any Award or the exercise thereof shall be subject to such restrictions as the
                                            Committee may deem advisable under the Plan, applicable federal or state securities laws
                                            and regulatory requirements, and the Committee may cause appropriate entries to be made with
                                            respect to, or legends to be placed on the certificates for, such Shares or other securities
                                            to reflect such restrictions. The Company shall not be required to deliver any Shares or
                                            other securities covered by an Award unless and until the requirements of any federal or
                                            state securities or other laws, rules or regulations (including the rules of any securities
                                            exchange) as may be determined by the Company to be applicable are satisfied.

 

		(vi)	Prohibition
                                            on Option Repricing. Except as provided in Section 4(c) hereof, the Committee may not,
                                            without prior approval of the Company’s stockholders, seek to effect any re-pricing
                                            of any previously granted, “underwater” Option by: (i) amending or modifying
                                            the terms of the Option to lower the exercise price; (ii) canceling the underwater Option
                                            and granting either (A) replacement Options having a lower exercise price; or (B) Restricted
                                            Stock in exchange; or (iii) repurchasing the underwater Option. An Option will be deemed
                                            to be “underwater” at any time when the Fair Market Value of the Shares covered
                                            by such Option is less than the exercise price.

 

		(vii)	Section
                                            409A Provisions. Notwithstanding anything in the Plan or any Award Agreement to the contrary,
                                            to the extent that any amount or benefit that constitutes “deferred compensation”
                                            to a Participant under Section 409A and applicable guidance thereunder is otherwise payable
                                            or distributable to a Participant under the Plan or any Award Agreement solely by reason
                                            of the occurrence of a change in control or due to the Participant’s disability or
                                            “separation from service” (as such term is defined under Section 409A), such
                                            amount or benefit will not be payable or distributable to the Participant by reason of such
                                            circumstance unless the Committee determines in good faith that (i) the circumstances giving
                                            rise to such change in control, disability or separation from service meet the definition
                                            of a change in ownership or effective control, disability, or separation from service, as
                                            the case may be, in Section 409A(a)(2)(A) of the Code and applicable proposed or final regulations,
                                            or (ii) the payment or distribution of such amount or benefit would be exempt from the application
                                            of Section 409A by reason of the short-term deferral exemption or otherwise. Any payment
                                            or distribution that otherwise would be made to a Participant who is a Specified Employee
                                            (as determined by the Committee in good faith) on account of separation from service may
                                            not be made before the date which is six months after the date of the Specified Employee’s
                                            separation from service (or if earlier, upon the Specified Employee’s death) unless
                                            the payment or distribution is exempt from the application of Section 409A by reason of the
                                            short-term deferral exemption or otherwise.

 

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		(viii)	Acceleration
                                            of Vesting or Exercisability. No Award Agreement shall, either by operation of its terms
                                            or by action of the Committee, accelerate the exercisability of any Award or the lapse of
                                            restrictions relating to any Award in connection with a change-in-control event unless such
                                            acceleration occurs upon the consummation of (or effective immediately prior to the consummation
                                            of, provided that the consummation subsequently occurs) such change-in-control event.

 

Section
7. Amendment and Termination; Corrections
 

(a)
Amendments to the Plan and Awards. The Board may from time to time amend, suspend or terminate this Plan, and the Committee may
amend the terms of any previously granted Award, provided that no amendment to the terms of any previously granted Award may, (except
as expressly provided in the Plan) materially and adversely alter or impair the terms or conditions of the Award previously granted to
a Participant under this Plan without the written consent of the Participant or holder thereof. Any amendment to this Plan, or to the
terms of any Award previously granted, is subject to compliance with all applicable laws, rules, regulations and policies of any applicable
governmental entity or securities exchange, including receipt of any required approval from the governmental entity or stock exchange.
For greater certainty and without limiting the foregoing, the Board may amend, suspend, terminate or discontinue the Plan, and the Committee
may amend or alter any previously granted Award, as applicable, without obtaining the approval of stockholders of the Company in order
to:
 

		(i)	amend
                                            the eligibility for, and limitations or conditions imposed upon, participation in the Plan;

 

		(ii)	subject
                                            to the limitations of Section 6, amend any terms relating to the granting or exercise of
                                            Awards, including but not limited to terms relating to the amount and payment of the exercise
                                            price, or the vesting, expiry, assignment or adjustment of Awards, or otherwise waive any
                                            conditions of or rights of the Company under any outstanding Award, prospectively or retroactively;

 

		(iii)	make
                                            changes that are necessary or desirable to comply with applicable laws, rules, regulations
                                            and policies of any applicable governmental entity or stock exchange (including amendments
                                            to Awards necessary or desirable to maximize any available tax deduction or to avoid any
                                            adverse tax results, and no action taken to comply with such laws, rules, regulations and
                                            policies shall be deemed to impair or otherwise adversely alter or impair the rights of any
                                            holder of an Award or beneficiary thereof); or

 

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		(iv)	amend
                                            any terms relating to the administration of the Plan, including the terms of any administrative
                                            guidelines or other rules related to the Plan.

 

For
greater certainty, and except as provided in Section 4(c), prior approval of the stockholders of the Company shall be required for any
amendment to the Plan or an Award that would:
 

		(i)	require
                                            stockholder approval under the rules or regulations of the Securities and Exchange Commission
                                            or any other securities exchange that are applicable to the Company;

 

		(ii)	increase
                                            the number of shares authorized under the Plan as specified in Section 4(a) of the Plan;

 

		(iii)	increase
                                            the number of shares or value of the Plan;

 

		(iv)	permit
                                            repricing of Options, which is currently prohibited by Section 6(c)(vi) of the Plan;

 

		(v)	permit
                                            the award of Options at a price less than 100% of the Fair Market Value of a Share on the
                                            date of grant of such Option , contrary to Section 6(a)(i) a of the Plan; or

 

		(vi)	increase
                                            the maximum term permitted for Options as specified in Section 6(a)(ii) of the Plan.

 

(b)
Corporate Transactions. In the event of any reorganization, merger, consolidation, split up, spinoff, combination, plan of arrangement,
take-over bid or tender offer, repurchase or exchange of Shares or other securities of the Company or any other similar corporate transaction
or event involving the Company (or the Company shall enter into a written agreement to undergo such a transaction or event), the Committee
or the Board may, in its sole discretion but subject to the limitations in Section 6 (e.g., limitations on re pricing), provide
for any of the following to be effective upon the consummation of the event (or effective immediately prior to the consummation of the
event, provided that the consummation of the event subsequently occurs), and no action taken under this Section 7(b) shall be deemed
to impair or otherwise adversely alter or impair the rights of any holder of an Award or beneficiary thereof:
 

		(i)	either
                                            (A) termination of any Award, whether or not vested, in exchange for an amount of cash and/or
                                            other property, if any, equal to the amount that would have been attained upon the exercise
                                            of the vested portion of the Award or realization of the Participant’s vested rights
                                            (and, for the avoidance of doubt, if, as of the date of the occurrence of the transaction
                                            or event described in this Section 7(b)(i)(A), the Committee or the Board determines in good
                                            faith that no amount would have been attained upon the exercise of the Award or realization
                                            of the Participant’s rights, then the Award may be terminated by the Company without
                                            any payment) or (B) the replacement of the Award with other rights or property selected by
                                            the Committee or the Board, in its sole discretion;

 

    	-11-

     

    

 

		(ii)	that
                                            the Award be assumed by the successor or survivor corporation, or a parent or subsidiary
                                            thereof, or shall be substituted for by similar options, rights or awards covering the stock
                                            of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate
                                            adjustments as to the number and kind of shares and prices;

 

		(iii)	that
                                            the Award shall be exercisable or payable or fully vested with respect to all Shares covered
                                            thereby, notwithstanding anything to the contrary in the applicable Award Agreement; or

 

		(iv)	that
                                            the Award cannot vest, be exercised or become payable after a date certain in the future,
                                            which may be the effective date of the event.

 

(c)
Correction of Defects, Omissions and Inconsistencies. The Committee, without prior approval of the stockholders of the Company,
may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award or Award Agreement in the manner
and to the extent it shall deem desirable to implement or maintain the effectiveness of the Plan.
 

Section
8. Income Tax Withholding
 

In
order to comply with all applicable federal, state, local or foreign income tax laws or regulations, the Company may take such action
as it deems appropriate to ensure that all applicable federal, state, local or foreign payroll, withholding, income or other taxes, which
are the sole and absolute responsibility of a Participant, are withheld or collected from such Participant. In order to assist a Participant
in paying all or a portion of the applicable taxes to be withheld or collected upon exercise or receipt of (or the lapse of restrictions
relating to) an Award, the Committee, in its discretion and subject to such additional terms and conditions as it may adopt, may permit
the Participant to satisfy such tax obligation by (a) electing to have the Company withhold a portion of the Shares otherwise to be delivered
upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value equal to the amount of such
taxes (subject to any limitations required by ASC Topic 718 to avoid adverse accounting treatment) or (b) delivering to the Company Shares
other than Shares issuable upon exercise or receipt of (or the lapse of restrictions relating to) such Award with a Fair Market Value
equal to the amount of such taxes. The election, if any, must be made on or before the date that the amount of tax to be withheld is
determined.
 

Section
9. General Provisions
 

(a)
No Rights to Awards. No Eligible Person, Participant or other person shall have any claim to be granted any Award under the Plan,
and there is no obligation for uniformity of treatment of Eligible Persons, Participants or holders or beneficiaries of Awards under
the Plan. The terms and conditions of Awards need not be the same with respect to any Participant or with respect to different Participants.
 

    	-12-

     

    

 

(b)
Award Agreements. No Participant shall have rights under an Award granted to such Participant unless and until an Award Agreement
shall have been signed by the Participant (if requested by the Company), or until such Award Agreement is delivered and accepted through
an electronic medium in accordance with procedures established by the Company. An Award Agreement need not be signed by a representative
of the Company unless required by the Committee. Each Award Agreement shall be subject to the applicable terms and conditions of the
Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee.
 

(c)
Plan Provisions Control. In the event that any provision of an Award Agreement conflicts with or is inconsistent in any respect
with the terms of the Plan as set forth herein or subsequently amended, the terms of the Plan shall control.
 

(d)
No Rights of Stockholders. Except with respect to Shares issued under Awards (and subject to such conditions as the Committee
may impose on such Awards pursuant to Section 6(b)(i), neither a Participant nor the Participant’s legal representative shall be,
or have any of the rights and privileges of, a stockholder of the Company with respect to any Shares issuable upon the exercise or payment
of any Award, in whole or in part, unless and until such Shares have been issued.
 

(e)
No Limit on Other Compensation Arrangements. Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting
or continuing in effect other or additional compensation plans or arrangements, and such plans or arrangements may be either generally
applicable or applicable only in specific cases.
 

(f)
No Right to Employment or Directorship. The grant of an Award shall not be construed as giving a Participant the right to be retained
as an employee of the Company or any Affiliate, or the right to be retained as a Director, nor will it affect in any way the right of
the Company or an Affiliate to terminate a Participant’s employment at any time, with or without cause, or remove a Director in
accordance with applicable law. In addition, the Company or an Affiliate may at any time dismiss a Participant from employment, or remove
a Director who is a Participant, free from any liability or any claim under the Plan or any Award, unless otherwise expressly provided
in the Plan or in any Award Agreement. Nothing in this Plan shall confer on any person any legal or equitable right against the Company
or any Affiliate, directly or indirectly, or give rise to any cause of action at law or in equity against the Company or an Affiliate.
Under no circumstances shall any person ceasing to be an employee or Director of the Company or any Affiliate be entitled to any compensation
for any loss of any right or benefit under the Plan which such employee or Director might otherwise have enjoyed but for termination
of employment or directorship, whether such compensation is claimed by way of damages for wrongful or unfair dismissal, breach of contract
or otherwise. By participating in the Plan, each Participant shall be deemed to have accepted all the conditions of the Plan and the
terms and conditions of any rules and regulations adopted by the Committee and shall be fully bound thereby.
 

    	-13-

     

    

 

(g)
Governing Law. The internal law, and not the law of conflicts, of the State of Delaware shall govern all questions concerning
the validity, construction and effect of the Plan or any Award, and any rules and regulations relating to the Plan or any Award.
 

(h)
Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in
any jurisdiction or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be
construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination
of the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction
or Award, and the remainder of the Plan or any such Award shall remain in full force and effect.
 

(i)
No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any
kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other person. To the extent that any person
acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the
right of any unsecured general creditor of the Company or any Affiliate.
 

(j)
Other Benefits. No compensation or benefit awarded to or realized by any Participant under the Plan shall be included for the
purpose of computing such Participant’s compensation or benefits under any pension, retirement, savings, profit sharing, group
insurance, disability, severance, termination pay, welfare or other benefit plan of the Company, unless required by law or otherwise
provided by such other plan.
 

(k)
No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall
determine whether cash shall be paid in lieu of any fractional Share or whether such fractional Share or any rights thereto shall be
canceled, terminated or otherwise eliminated.
 

(l)
Forfeiture, Clawback or Recoupment. All Awards under this Plan shall be subject to forfeiture and/or penalty conditions or provisions
as determined by the Committee and set forth in the applicable Award Agreement. In addition to such forfeiture and/or penalty conditions
as specified in any Award Agreement, Awards under this Plan shall be subject to clawback, recoupment or other penalties pursuant a policy
adopted by the Company, as such policy may be amended from time to time.
 

(m)
Headings. Headings are given to the sections and subsections of the Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.
 

Section
10. Effective Date of the Plan
 

The
Plan was adopted by the Board on October ___, 2021. The Plan shall be subject to approval by the stockholders of the Company by way of
written consent, and the Plan shall be effective as of the date of such stockholder approval subject to Rule 14c-2 of the Exchange Act.
 

Section
11. Term of the Plan
 

No
Award shall be granted under the Plan, and the Plan shall terminate, on October [●], 2031 or any earlier date of discontinuation
or termination established pursuant to Section 7(a) of the Plan. Unless otherwise expressly provided in the Plan or in an applicable
Award Agreement, any Award theretofore granted may extend beyond such dates, and the authority of the Committee provided for hereunder
with respect to the Plan and any Awards, and the authority of the Board to amend the Plan, shall extend beyond the termination of the
Plan.
 

    	-14-EX-10.2

  Exhibit 10.2

  Galera Therapeutics, Inc.

  Employment, Confidentiality, Noncompete and Invention Rights Agreement

  This Employment, Confidentiality, Noncompete and Invention Rights Agreement (“Agreement”) is made and entered into as of October 7, 2021 by and between Galera Therapeutics, Inc., a Delaware corporation (the “Company”), and Jennifer Evans Stacey (“Employee”).

  Recitals

  1.Effective as of the date Employee commences employment with the Company, which is expected to be October 8, 2021 or another date mutually agreed on by Employee and the Company (in any case, the “Effective Date”), Company desires to benefit from the services of Employee, and Employee desires to render such services, on the terms and conditions set forth in this Agreement. 

  2.Company is engaged in, among other things, the business of developing superoxide dismutase mimetics for the treatment and prevention of various diseases, including cancer and the serious side effects associated with current cancer therapies as well as other agents to treat cancer and the serious side effects associated with current cancer therapies.

  3.Company shall expend a great deal of time, money and effort to develop and maintain its proprietary Confidential Information (as defined below).

  4.The success of Company depends to a substantial extent upon the protection of its Confidential Information and goodwill by all of its employees. Employee recognizes and acknowledges that Employee’s position with Company will provide Employee with access to Confidential Information.

  5.Company compensates its employees to, among other things, develop and preserve goodwill with its customers, landlords, suppliers and partners on Company’s behalf and business information for Company’s ownership and use.

  6.If Employee were to leave Company, Company, in all fairness, would need certain protections in order to prevent competitors of Company from gaining an unfair competitive advantage over Company or diverting goodwill from Company, or to prevent Employee from misusing or misappropriating the Confidential Information.

  Agreements

  NOW, THEREFORE, in consideration of the Employee’s employment and compensation by the Company and the recitals, mutual covenants and agreements hereinafter set forth, Employee and Company agree as follows:

  1

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  Section 1.Employment Services.

  1.1Effective as of the Effective Date, Employee shall be employed by Company upon the terms and conditions hereinafter set forth. Employee shall report directly to the Chief Executive Officer of the Company and shall provide services to Company as Chief Legal and Compliance Officer. Employee’s duties will include those duties and responsibilities customarily associated with such position and such other duties and responsibilities as are reasonably requested by the Chief Executive Officer to fulfill the duties of this position.

  1.2Employee agrees that throughout Employee’s employment with Company, Employee will (a) faithfully render such services as may be assigned to Employee by Company, (b) devote Employee’s full working time to the Company using Employee’s good faith efforts, ability, skill and attention to Company’s business, and (c) follow and act in accordance with all of the rules, policies and procedures of Company, including those outlined in any Employee Handbook that the Company may adopt and revise from time to time (the “Employee Handbook”).

  Section 2.Term of Employment. Employee’s employment with the Company pursuant to this Agreement will begin on the Effective Date and shall continue indefinitely until terminated by the Company or by the Employee at any time, with or without cause, subject to the provisions of Section 4 below. 

  Section 3.Compensation.

  3.1During the term of this Agreement, Employee shall be entitled to the following:

  (a)A base salary of $400,000 per year, subject to review and adjustment as determined by the Board of Directors of the Company or an authorized committee thereof (in either case, the “Board”), to be paid according to the Company’s regular payroll practices (such base salary as it may be adjusted from time to time, the “Base Salary”);

  (b)An opportunity to earn an annual performance-based bonus targeted at 40% of Base Salary (the “Target Bonus”) based upon achievement of objectives for the applicable year as determined by the Board (the “Bonus”). The payment of any Bonus is subject to Employee’s continued employment by the Company on the last day of the calendar year to which the Bonus relates and will be made in accordance with the Company’s annual performance-based bonus program, but not later than March 15 of the calendar year following the calendar year in which such Bonus is earned;

  (c)A one-time retention signing bonus in the amount of $50,000 (the “Signing Bonus”). The Signing Bonus is payable within thirty (30) days of the Effective Date. Payment of the Signing Bonus is subject to (i) Employee’s continued employment with the Company through the payment date and (ii) all applicable deductions and withholdings.  In the event Employee’s employment with the Company is terminated by the Company for “good cause” (as defined below) or by Employee without “good reason” (as defined below), in either case, before the first 

  2

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  anniversary of the Effective Date, Employee will repay gross amount of the Signing Bonus to the Company.  The Company will be entitled (but not required) to deduct the amount of any such repayment obligations from any after-tax amounts otherwise payable to Employee by the Company or any of its affiliates; 

  (d)Subject to the approval of the Board, as soon as practicable after the Effective Date, an option (the “Option”) to purchase 130,000 shares of the Company’s common stock with an exercise price per share equal to the fair market value per share of the Company’s common stock as of the date of grant, as determined under the Company’s 2019 Incentive Award Plan (the “Plan”). The Option will be subject to the terms and conditions of the Plan and a separate stock option award agreement and will vest over a four year period with 25% vesting on the first anniversary of the Effective Date and the remaining 75% vesting in 36 substantially equal monthly instalments thereafter, so long as Employee continues to be employed by the Company.

  3.2Employee will be eligible to participate in all benefit plans of the Company generally available to employees of the Company as in effect from time to time, in accordance with and subject to the terms thereof.

  3.3Employee shall be entitled to paid vacation and paid sick leave in accordance with the Company’s policies as set forth in the Employee Handbook or otherwise in effect from time to time.

  3.4All compensation payable by Company to Employee under this Agreement shall be subject to customary withholding taxes and other employment taxes as required with respect thereto.

  3.5Upon Employee’s submission of proper substantiation, the Company shall reimburse Employee for all reasonable business expenses and travel expenses actually and necessarily paid or incurred by Employee in the course of and pursuant to the business of the Company, in accordance with the Company’s policies. No expenses incurred after the Employee’s termination of employment with the Company shall be subject to reimbursement under this Section 3.5.

  3.6The Company shall use commercially reasonable efforts to acquire and ensure that Employee shall be covered (for both liability and representation) at all times as an “Officer” or “Executive Officer” or the equivalent thereof under, one or more reasonable and customary directors and officers insurance policies, which shall be applicable to the Company and any subsequent renewals, extensions or replacements thereof, in each case as approved by the Board and to the same extent as other similarly situated officers of the Company.

  3

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  Section 4.Termination of Employment.

  4.1This Agreement and Employee’s employment may be terminated under the following circumstances:

  (a)Automatically upon the death of Employee.

  (b)By the Company in the event Employee, by reason of physical or mental disability, shall with reasonable accommodation be unable to perform a material portion of the services required of Employee hereunder for a continuous ninety (90) day period. In the event of a disagreement concerning the existence of any such disability, the matter shall be resolved by a disinterested licensed physician chosen by Company or its insurers with approval by Employee.

  (c)By the Company for “good cause,” which for the purposes of this Agreement shall mean: (i) the Employee’s refusal to substantially satisfy the material responsibilities and objectives reasonably assigned to Employee by the Company (other than due to a physical or mental disability); (ii) a material breach by Employee of this Agreement or any other agreement between Employee and the Company; (iii) Employee’s commission of a felony or a crime involving moral turpitude, or the commission of any other act or omission involving dishonesty or fraud with respect to the Company or any of its affiliates or any of their respective customers or suppliers; (iv) behavior by Employee constituting sexual harassment, unlawful discrimination or similar behavior; (v) Employee’s material breach of any confidentiality or non-compete obligations; (vi) conduct by Employee that tends to bring the Company, or any of its affiliates, into public disgrace or disrepute; or (vii) Employee’s gross negligence or willful misconduct with respect to the Company or any of its affiliates. In order for Employee’s termination to be considered to be for good cause pursuant to clauses (i) or (ii) above, the Company must notify the Employee of the existence of good cause within ninety (90) days of the initial existence of the condition alleged to give rise to good cause and provide the Employee with a period of thirty (30) days in which to remedy the condition. In the event the Employee remedies the condition within such thirty (30) day period, “good cause” shall not be deemed to exist with respect to such condition.

  (d)By the Employee for “good reason,” which for the purposes of this Agreement shall mean: (i) a failure by Company to comply with the material terms of this Agreement; (ii) any requirement by Company that Employee perform any act which is illegal; (iii) any material reduction in Employee’s Base Salary which is not consented to by Employee, except in connection with across-the-board salary reductions based on the Company’s financial condition or performance similarly affecting all or substantially all senior management employees of the Company; or (iv) any material reduction in Employee’s responsibilities, positions, duties or authority which is not consented to by Employee and which occurs within twelve (12) months after a Change in Control (as defined below). In order for Employee’s termination to be considered to be for good reason, the Employee must (x) notify the Company of the existence of good reason within ninety (90) days of the initial 

  4

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  existence of the condition alleged to give rise to good reason, (y) provide the Company with a period of thirty (30) days in which to remedy the condition and (z) after the Company fails to timely remedy the condition, terminate the Employee’s employment within sixty (60) days following expiration of such thirty (30) day period. In the event the Company remedies the condition within such thirty (30) day period, “good reason” shall not be deemed to exist.

  (e)By the Company without “good cause” or by the Employee for any other reason other than “good reason” or for no reason.

  4.2Any termination of Employee’s employment by the Company or by Employee under this Section 4 (other than termination pursuant to Section 4.1(a)) shall be communicated by a written notice to the other party hereto (i) indicating the specific termination provision in this Agreement relied upon, (ii) setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision so indicated, if applicable, and (iii) specifying a Date of Termination (as defined below) which, if submitted by Employee, shall be at least thirty (30) days following the date of such notice (a “Notice of Termination”); provided, however, that in the event that Employee delivers a Notice of Termination to the Company, the Company may, in its sole discretion, change the Date of Termination to any date that occurs following the date of Company’s receipt of such Notice of Termination and is prior to the date specified in such Notice of Termination, but the termination will still be considered a resignation by Employee. A Notice of Termination submitted by the Company may provide for a Date of Termination on the date Employee receives the Notice of Termination, or any date thereafter elected by the Company. The failure by either party to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of “good cause” or “good reason” shall not waive any right of the party hereunder or preclude the party from asserting such fact or circumstance in enforcing the party’s rights hereunder. For purposes of this Agreement, “Date of Termination” means (A) if Employee’s employment is terminated by Employee’s death, the date of Employee’s death; or (B) if Employee’s employment is terminated pursuant to Sections 4.1(b) – (e), either the date indicated in the Notice of Termination or the date specified by the Company pursuant this Section, whichever is earlier.

  4.3Upon the Date of Termination, all rights and obligations of the parties hereunder shall cease except that termination of employment pursuant to this Section 4 or otherwise shall not terminate or otherwise affect the rights and obligations of the parties pursuant to Section 4 through Section 14, Section 17, Section 19, Section 20 or Section 22.

  4.4If, on the Date of Termination, Employee is a member of the Board or any governing body of the Company or any of its subsidiaries, or holds any other offices or positions with the Company or its subsidiaries, Employee shall be deemed to have resigned from all such directorships, offices and positions as of the Date of Termination.

  5

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  4.5Employee’s right to payment and benefits from the Company under this Agreement for periods after the Date of Termination shall be limited to the following provisions of this Section 4.5:

  (a)Following termination of Employee’s employment for any reason, Company shall pay to Employee:

  (i)in accordance with Company’s usual payroll practices, the Base Salary earned up to and including the Date of Termination, but not yet paid;

  (ii)any Bonus awarded for the calendar year prior to the calendar year in which the Date of Termination occurs, determined in accordance with Section 3.1(b), but unpaid as of the Date of Termination, which Bonus shall be paid when such amounts would have otherwise been paid pursuant to Section 3.1(b);

  (iii)in accordance with Company’s usual payroll practices, payment for unused vacation days accrued up to and including the Date of Termination in accordance with Company policy;

  (iv)in accordance with Company’s policy and regular business practice, payment for all reasonable, customary and documented business expenses incurred up to and including the Date of Termination; and

  (v)any other payments or benefits to be provided to Employee by Company pursuant to any employee benefit plans or arrangements adopted by Company, to the extent such amounts are due from Company, which amounts shall be payable in accordance with the terms and conditions of such plans or arrangements.

  (b)Subject to Sections 4.5(c) and (d) below and Employee’s continued compliance with Sections 5, 6, 8 and 9, if the Company terminates Employee’s employment for reasons other than death (Section 4.1(a)), physical or mental disability (Section 4.1(b)), or “good cause” (Section 4.1(c)) or if the Employee terminates Employee’s employment as a result of circumstances constituting “good reason” (Section 4.1(d)), then, in addition to the amounts payable in accordance with Section 4.5(a), Employee shall receive the following: 

  (i)a cash severance payment equal to 9 months (the “Severance Period”) of Employee’s Base Salary as in effect on the Date of Termination. Such severance shall be paid in equal installments over the Severance Period according to the Company’s regular payroll practices, with the first installment payment (which will include any installment payments that would have otherwise been earlier made) occurring on the first regular payroll date immediately following the date the Release (as defined below) becomes effective and irrevocable; however, if the period for submitting the Release, which shall not extend beyond sixty (60) days following Employee’s Date of Termination, spans two calendar years, payment of the 

  6

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  cash severance under this paragraph (b)(i) shall not commence before the first regular payroll period of the second calendar year; and

  (ii)if Employee timely elects to receive continued health coverage under any Company group health plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), then, during the period commencing on the Date of Termination and ending upon the earliest of (X) the last day of the Severance Period, (Y) the date that Employee is no longer eligible for COBRA or (Z) the date Employee becomes eligible to receive health coverage from a subsequent employer (and Employee agrees to promptly notify the Company of such eligibility), the Company shall pay, or reimburse Employee for, a percentage of the applicable monthly premium for such continuation coverage equal to the same percentage contributed by the Company towards the Employee’s health plan coverage in effect immediately prior to the Date of Termination. Notwithstanding the foregoing, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act) or incurring an excise tax, the Company may alter the manner in which health coverage is provided to Employee after the Date of Termination so long as such alteration does not increase the after-tax cost or materially diminish the level of such benefits to Employee.

  (c)Subject to Section 4.5(d) below and Employee’s continued compliance with Sections 5, 6, 8 and 9, in lieu of the payments and benefits set forth in Section 4.5(b), if the Company terminates Employee’s employment for reasons other than death (Section 4.1(a)), physical or mental disability (Section 4.1(b)), or “good cause” (Section 4.1(c)) or if the Employee terminates Employee’s employment as a result of circumstances constituting “good reason” (Section 4.1(d)), in any case, on or within 12 months following the date of a Change in Control, then, in addition to the amounts payable in accordance with Section 4.5(a), Employee shall receive the following: 

  (i)a cash severance payment equal to the sum of (A) 12 months (the “CIC Severance Period”) of Employee’s Base Salary as in effect on the Date of Termination, plus (B) 1 times the Target Bonus. Such severance shall be paid in equal installments over the CIC Severance Period according to the Company’s regular payroll practices, with the first installment payment (which will include any installment payments that would have otherwise been earlier made)  occurring on the first regular payroll date immediately following the date the Release becomes effective and irrevocable; however, if the period for submitting the Release, which shall not extend beyond sixty (60) days following Employee’s Date of Termination, spans two calendar years, payment of the cash severance under this paragraph (c)(i) shall not commence before the first regular payroll period of the second calendar year;

  7

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  (ii)the benefits set forth in Section 4.5(b)(ii), provided that the Severance Period will mean the CIC Severance Period; and

  (iii)all unvested equity or equity-based awards held by Employee under any Company equity compensation plans that vest solely based on the passage of time shall immediately become 100% vested (for the avoidance of doubt, with any such awards that vest in whole or in part based on the attainment of performance-vesting conditions being governed by the terms of the applicable award agreement).

  (d)In no event shall Employee be entitled to receive any amounts, rights, or benefits under Section 4.5(b) or Section 4.5(c) unless Employee executes, timely delivers to the Company and does not revoke a release of claims against Company in substantially the form attached hereto as Exhibit A (the “Release”).

  (e)For purposes of this Agreement, “Change in Control” shall have the meaning set forth on Exhibit B.

  Section 5.Confidential Information.

  5.1Both during the period of Employee’s employment with the Company (the “Employment Period”) and following termination of employment, Employee agrees to keep secret and confidential, and not to use or disclose to any third parties, except as directly required for Employee to perform Employee’s employment responsibilities for Company, any of Company’s proprietary Confidential Information.

  5.2Employee acknowledges and confirms that certain data and other information (whether in human or machine readable form) that comes into Employee’s possession or knowledge (whether before or after the date of this Agreement) and that was obtained from Company, or obtained by Employee for or on behalf of Company (“Confidential Information”) is the secret, confidential property of Company or its affiliates. This Confidential Information includes, but is not limited to: (a) lists or other identification of customers or prospective customers of Company or its affiliates (and key individuals employed by or engaged by such parties); (b) lists or other identification of sources or prospective sources of Company’s or its affiliates’ products or components thereof, its landlords and prospective landlords and its current and prospective alliance, marketing and media partners (and key individuals employed or engaged by such parties); (c) all compilations of information, correspondence, designs, drawings, files, compounds, formulae, lists, machines, maps, methods, models, notes or other writings, plans, records, regulatory compliance procedures, protocols, reports, schematics, specialized or technical data, source code, object code, documentation, and software used in connection with the discovery, development, manufacture, fabrication, assembly, use, marketing and sale of Company’s or its affiliates’ products; (d) financial, sales and marketing data relating to Company, its affiliates or to the industry or other areas pertaining to Company’s activities and contemplated activities (including, without limitation, licensing, leasing, manufacturing, transportation, distribution and sales costs and non-public pricing information); (e) chemical compositions, equipment, materials, designs, procedures, processes, and techniques used in, or related to, the development, manufacture, assembly, fabrication or 

  8

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  other production and quality control of Company’s or its affiliates’ products; (f) Company’s or its affiliates’ relations with its past, current and prospective licensees, licensors, customers, suppliers, landlords, alliance, marketing and media partners and the nature and type of products or services rendered to, received from or developed with such parties or prospective parties; (g) Company’s or its affiliates’ relations with its employees (including, without limitation, salaries, job classifications and skill levels); and (h) any other information designated by Company or its affiliates to be confidential, secret and/or proprietary (including without limitation, non-public information provided by licensees, licensors, customers, suppliers and alliance partners of Company or its affiliates). Notwithstanding the foregoing, the term Confidential Information shall not include: (i) any data or other information which has been made publicly available or otherwise placed in the public domain other than by Employee in violation of this Agreement; (ii) information that Employee already knew prior to commencement of Employee’s employment (or other service relationship, if any, that commenced prior to employment) with the Company, other than by disclosure to Employee by the Company; (iii) information that Employee lawfully receives from someone outside the Company or its affiliates who is not obligated to keep the information confidential; or (iv) information that is explicitly approved in writing for release by the Chief Executive Officer.

  5.3During the Employment Period, Employee will not copy, reproduce or otherwise duplicate, record, abstract, summarize or otherwise use, any papers, records, reports, studies, computer printouts, equipment, tools or other property owned by Company except (i) as expressly permitted by Company in writing or (ii) as required for the proper performance of Employee’s duties on behalf of Company. Employee will promptly notify Company if Employee is legally compelled to disclose any Confidential Information by the order of any court or governmental investigative or judicial agency pursuant to proceedings over which such court or agency has jurisdiction.

  Section 6.Restrictions. Employee recognizes that (i) Company will spend substantial money, time and effort in developing and solidifying its relationships with its customers, suppliers, landlords and alliance partners and in developing its Confidential Information; (ii) long-term customer, landlord, supplier and partner relationships often can be difficult to develop and require a significant investment of time, effort and expense; (iii) Company has paid its employees to, among other things, develop and preserve business information, customer, landlord, vendor and partner goodwill, customer, landlord, vendor and partner loyalty and customer, landlord, vendor and partner contacts for and on behalf of Company; and (iv) Company is hereby agreeing to employ Employee based upon Employee’s assurances and promises not to divert good will of customers, landlords, suppliers or partners of Company, either individually or on a combined basis, or to put Employee in a position following Employee’s employment with Company in which the confidentiality of Company’s Confidential Information might somehow be compromised. Accordingly, Employee agrees that, regardless of how Employee’s termination occurs and regardless of whether it is with or without cause, Employee will not, directly or indirectly (whether as owner, partner, consultant, employee, or otherwise) anywhere in the United States:

  (a)during the Employment Period and for twelve (12) months immediately following the Date of Termination, provide any labor, services, expertise, advice or assistance to, or have an interest in, any person or entity engaged in, or planning to engage in, 

  9

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  discovery, development, manufacture, marketing or sales of (i) any products or potential products for the treatment or prevention of mucositis, (ii) any products or potential products primarily for the treatment or prevention of any fibrosis indication for which the Company has products or potential products under development during the Employment Period, (iii) superoxide dismutase or superoxide dismutase mimetics for the treatment and prevention of various diseases, including cancer and the serious side effects associated with current cancer therapies, or (iv) other agents which have the same mechanism of action or molecular target as those under development by the Company during the Employment Period or during the Employment Period, provide any labor, services, expertise, advice or assistance to, or have an interest in, any person or entity engaged in, or planning to engage in, any other business in which the Company may engage during the Employment Period (together, the “Restricted Activity”), including, without limitation, Employee providing labor, service, expertise, advice or assistance to any investment fund or other investment entity for the purpose of evaluating and/or making an investment in any company engaged or planning to engage in the Restricted Activity; and

  (b)during the Employment Period and for twelve (12) months immediately following the Date of Termination, induce or solicit or attempt to induce or solicit any (i) employee, consultant, partner or advisor of Company to accept employment or an affiliation or (ii) distributor, supplier, representative or agent of the Company to terminate or modify its relationship with the Company;

  provided that, nothing in this Section 6 shall prohibit Employee from: (x) investing in stocks, bonds, or other securities in any business if such stocks, bonds, or other securities are listed on any United States securities exchange or are publicly traded in an over the counter market, and such investment does not exceed, in the case of any capital stock of any one issuer, two percent (2%) of the issued and outstanding capital stock, or in the case of bonds or other securities, two percent (2%) of the aggregate principal amount thereof issued and outstanding, (y) indirectly investing in securities in any corporation or other business entity by virtue of Employee’s passive investment (with no ability to manage or direct investments) in a venture capital limited liability partnership or private equity fund or any other similar venture, private equity or seed capital firm, or (z) participating in activities as specifically consented to in writing by the Board that would otherwise be Restricted Activities.

  Section 7.Acknowledgment Regarding Restrictions. 

  7.1Employee recognizes and agrees that the restraints contained in Section 6 (both separately and in total), are reasonable and enforceable in view of Company’s legitimate interests in protecting its Confidential Information and customer goodwill and the limited scope of the restrictions in Section 6.

  7.2Employee acknowledges that nothing contained herein shall prohibit Employee from (a) filing a charge with, reporting possible violations of federal law or regulation to, participating in any investigation by, or cooperating with any governmental agency or entity or making other disclosures that are protected under the whistleblower provisions of 

  10

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  applicable law or regulation and/or (b) communicating directly with, cooperating with, or providing information (including trade secrets) in confidence to, any federal, state or local government regulator (including, but not limited to, the U.S. Securities and Exchange Commission, the U.S. Commodity Futures Trading Commission, or the U.S. Department of Justice) for the purpose of reporting or investigating a suspected violation of law, or from providing such information to Employee’s attorney or in a sealed complaint or other document filed in a lawsuit or other governmental proceeding.  Employee hereby acknowledges that Company has provided Employee with the following notice of immunity rights in compliance with the requirements of the Defend Trade Secrets Act: (i) Employee shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Confidential Information that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (ii) Employee shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Confidential Information that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (iii) if Employee files a lawsuit for retaliation by Company for reporting a suspected violation of law, Employee may disclose the Confidential Information to Employee’s attorney and use the Confidential Information in the court proceeding, if Employee files any document containing the Confidential Information under seal, and does not disclose the Confidential Information, except pursuant to court order.

  Section 8.Inventions.

  8.1Any and all ideas, inventions, discoveries, patents, patent applications, continuation-in-part patent applications, divisional patent applications, technology, copyrights, derivative works, trademarks, service marks, improvements, trade secrets, compounds, formulas, recipes, mixtures, processes and the like (including any modifications thereto) (each an “Invention” and collectively, “Inventions”), which are developed, conceived, created, discovered, learned, produced and/or otherwise generated by Employee, whether individually or otherwise, during the Employment Period, whether or not during working hours, that (i) result from work performed for the Company, (ii) use the Company’s Confidential Information or other proprietary materials or (iii) directly relate to discovery, development, manufacture, use or commercialization of (w) any products or product candidates for the treatment or prevention of mucositis, esophagitis, fibrosis or other radiation-related toxicities, (x) any products or potential product for any radiation-related indication for which the Company has or had products or potential products under development during the Employment Period, (y) superoxide dismutase or superoxide dismutase mimetics, including for the treatment and prevention of various diseases, including cancer and the serious side effects associated with current cancer therapies, or (z) other agents which have similar chemistry, mechanism of action or molecular target as those under development by the Company during the Employment Period shall be the sole and exclusive property of Company, and Employee hereby assigns, and to the extent not assignable at present, agrees to assign to Company, and Company shall own, any and all right, title and interest to such Inventions, provided that any ideas, inventions, discoveries, patents, patent applications, continuation-in-part patent applications, divisional patent applications, technology, copyrights, derivative works, trademarks, service marks, 

  11

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  improvements, trade secrets, compounds, formulas, recipes, mixtures, processes and the like (including any modifications thereto) that would be Inventions except (a) that no equipment, supplies, facility, or confidential or proprietary information of the Company was used and (b) which do not directly relate to discovery, development, manufacture, use or commercialization of superoxide dismutase or superoxide dismutase mimetics, or of other agents which have similar chemistry, mechanism of action or molecular target as those under development by the Company during the Employment Period, shall not be considered Inventions.

  8.2Employee shall promptly make a complete written disclosure to Company of any Invention, when and as it arises, is conceived or is reduced to practice, specifically pointing out the features or concepts that Employee believes to be new or different. Employee shall give Company and its attorneys all reasonable assistance in connection with the preparation and prosecution of any patent applications filed in connection with any such Invention. Company shall have the right to name Employee as inventor in any patent application where applicable. Whenever requested to do so by Company, at Company’s expense, Employee agrees to execute any and all applications, assignments or other instruments which Company deems necessary and/or desirable to protect such interests. Furthermore, Employee hereby agrees to execute, acknowledge and deliver, from time to time as may be requested by Company, any and all documents and take such other action as Company believes, in its sole discretion, to be necessary to: (a) protect, register, and/or otherwise vest Company’s right, title and interest in and to the Inventions; (b) make a record with any and all government agencies, authorities, courts, tribunals, or third parties of the fact that Company owns all right, title and interest in and to the Inventions; and (c) make such a record that Employee has no right, title or interest, of any kind or nature, in or to the Inventions. Employee further agrees that Employee’s obligation to execute or cause to be executed any such instrument or papers shall continue after the termination of this Agreement.

  8.3If Company is unable for any reason to secure Employee’s signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original works of authorship assigned to Company as above, then Employee hereby irrevocably designates and appoints Company and its duly authorized officers and agents as Employee’s agent and attorney-in-fact, to act for and in its name, place and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by Employee. Notwithstanding the occurrence of a breach by Company of any legal duty or obligation imposed by any contract (including this Agreement), by the law of torts (including simple or gross negligence, strict liability or willful misconduct), or by federal or state laws, rules, regulations, orders, standards or ordinances, during the term of this Agreement, Employee shall have no right to revoke or restrict in any manner or to any degree whatsoever, through injunctive relief or otherwise, the rights granted to Company under this Agreement, it being understood and agreed that each such breach shall be compensable, if at all, by a remedy at law.

  12

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  8.4Employee acknowledges that as part of Employee’s work for Company Employee may be asked to create, or contribute to the creation of, computer programs, documentation or other copyrightable works. Employee hereby agrees that any and all computer programs, documentation and other copyrightable materials that Employee has prepared or worked on for Company, or is asked to prepare or work on by Company, shall be treated as and shall be a “work made for hire,” for the exclusive ownership and benefit of Company according to the copyright laws of the United States, including, but not limited to, Sections 101 and 201 of Title 17 of the U.S. Code (“U.S.C.”) as well as according to similar foreign laws. Company shall have the exclusive right to register the copyrights in all such works in its name as the owner and author of such works and shall have the exclusive rights conveyed under 17 U.S.C. §§106 and 106A, including, but not limited to, the right to make all uses of the works in which attribution or integrity rights may be implicated. Without in any way limiting the foregoing, to the extent the works are not treated as works made for hire under any applicable law, Employee hereby irrevocably assigns, transfers and conveys to Company and its successors and assigns any and all right, title and interest that Employee may now or in the future have in or to the copyrightable works, including, but not limited to, all ownership, U.S. and foreign copyrights, all treaty, convention, statutory and common law rights under the law of any U.S. or foreign jurisdiction, the right to sue for past, present and future infringement and moral, attribution and integrity rights. Employee hereby expressly and forever irrevocably waives any and all rights Employee has arising under 17 U.S.C. §106A, rights that may arise under any federal, state or foreign law that conveys rights that are similar in nature to those conveyed under 17 U.S.C. §106, and any other type of moral right or droit moral.

  Section 9.Company Property. Employee acknowledges that any and all notes, records, sketches, computer diskettes, training materials and other documents relating to Company obtained by or provided to Employee, or otherwise made, produced or compiled during the Employment Period, regardless of the type of medium in which they are preserved, are the sole and exclusive property of Company and shall be surrendered to Company upon Employee’s termination of employment and on demand at any time by Company.

  Section 10.Non-Waiver of Rights. Company’s or Employee’s failure to enforce at any time any of the provisions of this Agreement or to require at any time performance by the other party of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect either the validity of this Agreement, or any part hereof, or the right of Company or Employee thereafter to enforce each and every provision in accordance with the terms of this Agreement.

  Section 11.Right to Injunctive Relief. In the event of a breach or threatened breach of any rights, duties or obligations under the terms and provisions of Section 5 “Confidential Information”, Section 6 “Restrictions”, Section 8 “Inventions”, or Section 9 “Company Property”, either Company or Employee shall be entitled, in addition to any other legal or equitable remedies the party may have in connection therewith (including any right to damages that the party may suffer), to temporary, preliminary and permanent injunctive relief restraining such breach or threatened breach. The parties hereby expressly acknowledge that the harm which might result to the Employee or to the Company’s business as a result of any noncompliance with any of the provisions of Section 5, Section 6, Section 8 or Section 9 might be largely irreparable. The parties 

  13

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  specifically agree that if there is a question as to the enforceability of any of the provisions of Section 5, Section 6, Section 8 or Section 9 the parties will not engage in any conduct inconsistent with or contrary to such sections until after the question has been resolved by a final judgment of a court of competent jurisdiction. Employee and Company agree that the running of the periods set forth in Section 6 shall be tolled during any period of time in which Employee violates that section.

  Section 12.Judicial Enforcement. If any provision of this Agreement is adjudicated to be invalid or unenforceable under applicable law in any jurisdiction, the validity or enforceability of the remaining provisions thereof shall be unaffected as to such jurisdiction and such adjudication shall not affect the validity or enforceability of such provisions in any other jurisdiction. To the extent that any provision of this Agreement is adjudicated to be invalid or unenforceable because it is overbroad, that provision shall not be void but rather shall be limited only to the extent required by applicable law and enforced as so limited. The parties expressly acknowledge and agree that this Section 12 is reasonable in view of the parties’ respective interests.

  Section 13.Employee Representations. Employee represents that the execution and delivery of the Agreement and Employee’s employment with Company do not violate any previous or existing employment agreement or other contractual obligation of Employee. Employee agrees that Employee will not, during Employee’s employment with the Company, bring onto Company premises or improperly use or disclose any confidential or proprietary information or trade secrets of any former or other employer or third party for whom Employee has been engaged to provide services without the explicit written consent of such employer or third party. If, at any time during Employee’s employment with the Company, Employee is (a) requested by the Company to perform work which Employee believes may cause Employee to violate a duty Employee has to a third party or (b) requested by a third party to perform work which Employee believes may cause Employee to violate a duty Employee has to the Company, Employee will immediately inform the Company (subject to any confidentiality obligations Employee may have to such third party and the Company) so that an assessment of the situation may be made.

  Section 14.Right to Recover Costs and Fees. In any action to enforce, or arising out of, this Agreement, the prevailing party shall be entitled to be awarded allowable costs and reasonable attorney’s fees incurred.

  Section 15.Amendments; Entire Agreement. No modification, amendment or waiver of any of the provisions of this Agreement shall be effective unless in writing specifically referring hereto, and signed by the parties hereto. This Agreement is intended as the complete, final and exclusive agreement between the parties regarding Employee’s terms of employment, Confidential Information, ownership of and assignment of Inventions, and dispute resolution, and supersedes all prior understandings, writings, proposals, representations or communications, oral or written, relating to the subject matter hereof, including without limitation, the letter regarding Employee’s offer of  employment dated as of September 29, 2021.

  Section 16.Assignments. This Agreement shall be freely assignable by Company to and shall inure to the benefit of, and be binding upon, Company, its successors and assigns and/or any other entity which shall succeed to the business conducted by Company. Being a contract for 

  14

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  personal services, Employee cannot assign or transfer any of Employee’s obligations under this Agreement.

  Section 17.Choice of Forum and Governing Law. In light of Company’s substantial contacts with the State of Delaware, the parties’ interests in ensuring that disputes regarding the interpretation, validity and enforceability of this Agreement are resolved on a uniform basis, the parties agree that: (a) subject to Section 22, any litigation involving any noncompliance with or breach of the Agreement, or regarding the interpretation, validity and/or enforceability of the Agreement, shall be filed and conducted in the state courts of New Castle County, Delaware or district court for the District of Delaware; and (b) the Agreement shall be interpreted in accordance with and governed by the laws of the State of Delaware, without regard for any conflict of law principles.

  Section 18.Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when: (i) delivered personally to the recipient; (ii) sent to the recipient by reputable express courier service (charges prepaid); (iii) mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid; or (iv) telecopied to the recipient (with hard copy sent to the recipient by reputable overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. Eastern Time on a business day, and otherwise on the next business day. Such notices, demands and other communications shall be sent to the parties at the addresses indicated below:

  If to Company:

  Galera Therapeutics, Inc.

  2 W Liberty Blvd #100

  Malvern, Pennsylvania 19355 

  Attention: Chief Executive Officer

  If to Employee: to the last address Company has in its personnel records for Employee

  or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. The parties agree that service of process may be effected by certified or registered mail, return receipt requested, directed to the other party at the address set forth above, and service so made shall be completed when received.

  Section 19.Application of Specific Tax Provisions.  Notwithstanding any other provisions of this Agreement or any Company equity plan or agreement, in the event that Company determines in good faith that any payment or benefit received or to be received by Employee pursuant to this Agreement or otherwise (all such payments and benefits, including, without limitation, salary and bonus payments, being hereinafter called the “Total Payments”) would be subject to the excise tax (the “Excise Tax”) imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), by reason of being considered “contingent on a change in ownership or control” of Company within the meaning of Section 280G of the Code, then such Total Payments shall be reduced to the minimum extent necessary so that the Total Payments will 

  15

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  be less than three times Employee’s “base amount” (as defined in Section 280G(b)(3) of the Code), but only if the amount of such reduction would be less than 100% of the Excise Taxes on such Total Payments. The reduction, if any, of the Total Payments shall apply as follows, unless otherwise agreed and such agreement is in compliance with Section 409A of the Code, (i) first, any cash severance payments due under the Agreement shall be reduced, with the last such payment due first forfeited and reduced, and sequentially thereafter working from the next last payment, and (ii) second, any acceleration of vesting of any equity shall be disregarded beginning with the most recent equity award and each prior award thereafter in chronological order based on each award grant date. All determinations regarding the application of this Section 19 shall be made by an accounting firm or consulting group selected by the Company with experience in performing calculations regarding the applicability of Section 280G of the Code and the Excise Tax (the “Independent Advisors”). The costs of obtaining such determination and all related fees and expenses (including related fees and expenses incurred in any later audit) shall be borne by the Company. In the event it is later determined that a greater reduction in the Total Payments should have been made to implement the objective and intent of this Section 19, the excess amount shall be returned promptly by Employee to the Company.

  Section 20.Compliance with Code Section 409A. 

  20.1This Agreement and the payments and benefits hereunder are intended to comply with, or qualify for exemption from, the requirements of Section 409A of the Code (including the Treasury Regulations and other administrative guidance promulgated thereunder) (“Section 409A”), and this Agreement shall be interpreted in a manner consistent with such intent. 

  20.2Notwithstanding anything herein to the contrary, if at the time of Employee’s termination of employment Employee is a “specified employee” as defined in Section 409A, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any accelerated or additional tax under Section 409A, then Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Employee) to the extent necessary to comply with the requirements of Section 409A until the Company’s first regular payroll date that is more than six months following Employee’s termination of employment with Company (or the earliest date as is permitted under Section 409A). Upon the first business day following the expiration of the applicable Section 409A period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to Employee (or Employee’s estate or beneficiaries), and any remaining payments due to Employee under this Agreement shall be paid as otherwise provided herein.

  20.3If any other payments or benefits due to Employee hereunder could cause the application of an accelerated or additional tax under Section 409A, such payments or benefits shall be deferred if deferral will make such payments or provision of benefits compliant under Section 409A or such payments or benefits shall be restructured, to the extent possible, in a manner, determined by the Company and Employee, that does not cause such an accelerated or additional tax. 

  16

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  20.4Notwithstanding anything to the contrary herein, to the extent required by Section 409A, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “resignation,” “termination,” “termination of employment” or like terms shall mean a “separation from service” within the meaning of Section 409A. 

  20.5For purposes of Section 409A, each payment made under this Agreement shall be designated as a “separate payment” within the meaning of Section 409A. Notwithstanding anything to the contrary in this Agreement, all taxable reimbursements provided under this Agreement that are subject to Section 409A shall be made in accordance with the requirements of Section 409A. The amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year. Reimbursement of an eligible expense shall be made in accordance with the Company’s policies and practices and as otherwise provided herein, provided, that, in no event shall reimbursement be made after the last day of the year following the year in which the expense was incurred. The right to reimbursement is not subject to liquidation or exchange for another benefit. Except as otherwise permitted under Section 409A, no payment hereunder shall be accelerated or deferred unless such acceleration or deferral would not result in additional tax or interest pursuant to Section 409A.

  Section 21.Headings. Section headings are provided in this Agreement for convenience only and shall not be deemed to substantively alter the content of such sections.

  Section 22.Mutual Arbitration. Except as specifically excluded in Section 22.1, arbitration shall be the sole and exclusive remedy for any dispute, claim, or controversy of any kind or nature (a “Claim”) arising out of, relating to, or connected with Employee’s employment relationship with the Company, or the termination of Employee’s employment relationship with the Company. This Agreement applies to any Claim Employee may have against the Company, any parent, subsidiary, or affiliated entity of the Company, or their respective directors, officers, general or limited partners, employees or agents. It also applies to any Claim the Company, or any parent, subsidiary or affiliated entity of the Company may have against Employee. Excepting only claims excluded in Section 22.1, this Agreement specifically includes (without limitation) all claims under or relating to any federal, state or local law, whether based on tort, contract, statute, regulation, equitable law or otherwise, including claims for discrimination, harassment or retaliation based on race, color, religion, national origin, sex, sexual orientation, age, disability or any other condition or characteristic protected by law; demotion, discipline, termination or other adverse action in violation of any contract, law or public policy; entitlement to wages or other economic compensation; and any claim for personal, emotional, physical, economic or other injury. To the maximum extent permitted by law, Employee hereby waives any right to bring on behalf of persons other than Employee, or to otherwise participate with other persons in, any class or collective action, subject to Section 22.1, below.

  22.1This Agreement does not apply to any claims by Employee: (a) for workers’ compensation benefits; (b) for unemployment insurance benefits; (c) under a benefit plan where the plan specifies a separate arbitration procedure; (d) under a collective bargaining agreement 

  17

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  containing a separate grievance and arbitration procedure; or (e) filed with an administrative agency which are not legally subject to arbitration under this Agreement.  Further, this Section 22 does not preclude the bringing of an action for injunctive relief or specific performance or before a court as contemplated by Section 11.

  22.2Any arbitration will be under the Federal Arbitration Act and administered by Judicial Arbitration & Mediation Services, Inc., pursuant to its Employment Arbitration Rules & Procedures, which are available at http://www.jamsadr.com/rules-employment-arbitration/. The arbitrator shall have the power to decide any motions brought by any party to the arbitration, including but not limited to motions for summary judgment and/or adjudication, and motions to dismiss and demurrers, applying the standards set forth under applicable law. The arbitrator shall issue a written decision on the merits. The arbitrator shall have the power to award any remedies available under applicable law, and the arbitrator shall award attorneys, fees and costs to the prevailing party, where provided by applicable law. The decree or award rendered by the arbitrator may be entered as a final and binding judgment in any court having jurisdiction thereof. The Company shall bear all fees and costs unique to the arbitration forum (e.g., filing fees, transcript costs and arbitrator’s fees). The parties shall be responsible for their own attorneys’ fees and costs, except that the arbitrator shall have the authority to award attorneys’ fees and costs to the prevailing party in accordance with the applicable law governing the dispute.  Any arbitration hereunder shall be confidential and neither any party nor the arbitrator shall disclose the existence, contents or results of such process without the prior written consent of all parties to this Agreement, except where necessary or compelled in a court to enforce this arbitration provision or an award from such arbitration or otherwise in a legal proceeding.

  PLEASE NOTE: BY SIGNING THIS AGREEMENT, EMPLOYEE IS HEREBY CERTIFYING THAT EMPLOYEE (A) HAS RECEIVED A COPY OF THIS AGREEMENT FOR REVIEW AND STUDY BEFORE EXECUTING IT; (B) HAS READ THIS AGREEMENT CAREFULLY BEFORE SIGNING IT; (C) HAS HAD SUFFICIENT OPPORTUNITY BEFORE SIGNING THE AGREEMENT TO ASK ANY QUESTIONS EMPLOYEE HAS ABOUT THE AGREEMENT AND HAS RECEIVED SATISFACTORY ANSWERS TO ALL SUCH QUESTIONS; AND (D) UNDERSTANDS EMPLOYEE’S RIGHTS AND OBLIGATIONS UNDER THE AGREEMENT.

  [Signature Page Follows]

   

  18

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  IN WITNESS WHEREOF, the parties hereto have caused this Employment, Confidentiality, Noncompete and Invention Rights Agreement to be executed as of the day and year first above written.

  						 

  /s/ Jennifer Evans Stacey	

  Jennifer Evans Stacey

   

   

  Galera Therapeutics, Inc.

   

   

  By: /s/ J. Mel Sorensen	

  Name:	 J. Mel Sorensen, M.D.

  Title:	 President and Chief Executive Officer

   

  19

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  1. 

  GENERAL RELEASE

  I, ________________, in consideration of the obligations of Galera Therapeutics, Inc., a Delaware corporation (the “Company”), under that certain Employment, Confidentiality, Noncompete and Invention Rights Agreement, dated as of _____ 20__ (the “Agreement”), do hereby release and forever discharge, as of the date hereof, the Company and its affiliates and all present and former directors, officers, agents, representatives, employees, successors and assigns of the Company and its affiliates and the Company’s direct and indirect owners (collectively, the “Released Parties”) to the extent provided below.

  1.I understand that any payments or benefits paid or granted to me under Section 4.5(b) or Section 4.5(c) of the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive the payments and benefits specified in Section 4.5(b) or Section 4.5(c) of the Agreement unless I execute this General Release and do not revoke this General Release within the time period permitted hereafter or breach this General Release. I also acknowledge and represent that I have received all payments and benefits that I am entitled to receive (as of the date hereof) by virtue of my employment with the Company.

  2.Except as provided in Section 4 and Section 5 below and except for the provisions of the Agreement that expressly survive the termination of my employment with the Company, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter-claims, demands, debts, compensatory damages, liquidated damages, punitive or exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date I execute this General Release) and whether known or unknown, suspected, or claimed against the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with my employment with, or my separation or termination from, the Company (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Employee Order Programs; the Fair Labor Standards Act; or their state or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, 

  20

  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  including attorneys’ fees incurred in these matters) (all of the foregoing are collectively referred to herein as the “Claims”).

  3.I represent that I have made no assignment or transfer of any right, claim, demand, cause of action or other matter covered by Section 2 above.

  4.This General Release does not release claims that cannot be released as a matter of law, including, but not limited to, my right to report possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or regulation, my right to file a charge with or participate in a charge, investigation or proceeding by the Equal Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company (with the understanding that my release of claims herein bars me from recovering monetary or other individual relief from the Company or any Released Parties in connection with any charge, investigation or proceeding, or any related complaint or lawsuit, filed by me or by anyone else on my behalf before the federal Equal Employment Opportunity Commission or a comparable state or local agency), claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law, claims to continued participation in certain of the Company’s group benefit plans pursuant to the terms and conditions of COBRA, claims to any benefit entitlements vested as the date of separation of my employment, pursuant to written terms of any employee benefit plan of the Company or its affiliates, my rights or remedies in connection with my ownership of vested equity securities of the Company, my right to indemnification by the Company or any of its affiliates pursuant to contract or applicable law, and my rights under applicable law. 

  5.I further agree that this General Release does not waive or release any rights or claims that I may have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from employment with the Company in compliance with the terms of the Agreement shall not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967).

  6.In signing this General Release, I acknowledge and intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release 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 (notwithstanding any state statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company, or in the event I should seek to recover against the Company in any Claim brought by a governmental agency on 

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  Exhibit 10.2

  my behalf, this General Release shall serve as a complete defense to such Claims. I further agree that I am not aware of any pending charge or complaint of the type described in Section 2 above as of the execution of this General Release.

  7.I agree that neither this General Release, nor the furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Company, any Released Party or myself of any improper or unlawful conduct.

  8.I agree that I will forfeit all amounts payable by the Company pursuant to Section 4.5(b) or Section 4.5(c) of the Agreement if I challenge the validity of this General Release; provided that this forfeiture shall not apply with respect to challenges regarding the validity of any waiver or release under the Age Discrimination in Employment Act of 1967. I also agree that if I violate this General Release by suing the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees, and return all payments received by me pursuant to Section 4.5(b) or Section 4.5(c) of the Agreement.

  9.I agree not to criticize, denigrate or otherwise disparage the Company, its past and present investors, officers, directors or employees or its affiliates, provided, that nothing in this Section 9 shall limit my response to questions on any and all such subjects from the Company’s Chief Executive Officer, members of its board of directors, its legal counsel or my own legal counsel, or as otherwise required by law. I further agree to keep all confidential and proprietary information about the past or present business affairs of the Company and its affiliates confidential unless a prior written release from the Company is obtained. I further agree that as of the date hereof, I have returned to the Company any and all property, tangible or intangible, relating to its business, which I possessed or had control over at any time (including, but not limited to, company-provided credit cards, building or office access cards, keys, computer equipment, manuals, files, documents, records, software, customer data base and other data) and that I shall not retain any copies, compilations, extracts, excerpts, summaries or other notes of any such manuals, files, documents, records, software, customer data base or other data.

  10.Notwithstanding anything in this General Release to the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any action or inaction by the Company or by any Released Party after the date hereof.

  11.I recognize and agree that the restraints contained in Sections 5 – 9 of the Agreement (both separately and in total) are reasonable and enforceable and I agree to abide by the terms of those sections.

  12.Whenever possible, each provision of this General Release shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or its validity and enforceability in any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

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  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT:

  1.I HAVE READ IT CAREFULLY;

  2.I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED;

  3.I VOLUNTARILY CONSENT TO EVERYTHING IN IT;

  4.I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN VOLITION;

  5.I HAVE HAD AT LEAST 21 DAYS FROM THE DATE OF MY RECEIPT OF THIS GENERAL RELEASE TO CONSIDER IT, AND ANY CHANGES MADE SINCE SUCH DATE WILL NOT RESTART THE REQUIRED 21-DAY PERIOD;

  6.I UNDERSTAND THAT I HAVE SEVEN DAYS AFTER THE EXECUTION OF THIS GENERAL RELEASE TO REVOKE IT AND THAT THIS GENERAL RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION PERIOD HAS EXPIRED;

  7.I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND

  8.I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF THE COMPANY AND BY ME.

  DATE: 				

  			Jennifer Evans Stacey

   

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  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  Exhibit B

  For purposes of the Agreement, “Change in Control” means and includes each of the following: 

  (a)A transaction or series of transactions (other than an offering of the Company’s common stock to the general public through a registration statement filed with the Securities and Exchange Commission or a transaction or series of transactions that meets the requirements of clauses (i) and (ii) of subsection (c) below) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than the Company, any of its subsidiaries, an employee benefit plan maintained by the Company or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s securities outstanding immediately after such acquisition; or

  (b)During any period of two consecutive years, individuals who, at the beginning of such period, constitute the Board together with any new Board member(s) (other than a Board member designated by a person who shall have entered into an agreement with the Company to effect a transaction described in subsections (a) or (c)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the Board members then still in office who either were Board members at the beginning of the two-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or

  (c)The consummation by the Company (whether directly involving the Company or indirectly involving the Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets in any single transaction or series of related transactions or (z) the acquisition of assets or stock of another entity, in each case other than a transaction:

  (i)which results in the Company’s voting securities outstanding immediately before the transaction continuing to represent (either by remaining outstanding or by being converted into voting securities of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor Entity’s outstanding voting securities immediately after the transaction, and

  (ii)after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided, however, that no person or group shall be treated for purposes of this clause (ii) as beneficially owning 50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction.

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  |US-DOCS\126630756.2||

  

  Exhibit 10.2

  Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any amount that provides for the deferral of compensation that is subject to Section 409A, to the extent required to avoid the imposition of additional taxes under Section 409A, the transaction or event described in subsection (a), (b) or (c) with respect to such amount shall only constitute a Change in Control for purposes of the payment timing of such amount if such transaction also constitutes a “change in control event,” as defined in Treasury Regulation Section 1.409A-3(i)(5). 

  The Board shall have full and final authority, which shall be exercised in its discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation.

  * * * * *

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