Document:

Exhibit
10.18

 

30
September 2016

 

 

 

 

 

Dear
Felix,

 

Congratulations!
On behalf of Blade Therapeutics, Inc. (the “Company”), I am pleased to set forth below the terms of your employment with
the Company. Should you accept our offer:

 

1.
You will be employed to serve on a full-time basis as Executive Vice President, Business Development, responsible for such duties as
are consistent with such position, plus such other duties as may from time to time be assigned to you by the Company. You shall report
to the CEO, and you agree to devote your full business time, best efforts, skill, knowledge, attention and energies to the advancement
of the Company’s business and interests and to the performance of your duties and responsibilities as an employee of the Company.
You agree to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein that
may be adopted from time to time by the Company. It is contemplated that you will commence full time employment on or about October 17,
2016, the exact start date to be mutually agreed upon. You shall work out of the Company’s office, in South San Francisco.

 

2.
Your base salary will be at the monthly rate of $20,833.33 (equivalent to an annualized base salary of $250,000), less all applicable
taxes and withholdings, to be paid in installments in accordance with the Company’s regular payroll practices. Such base salary
may be increased from time to time in accordance with normal business practice and in the sole discretion of the Company, but it is not
anticipated that this base salary will be re-evaluated before the end of calendar year 2016.

 

3.
Following the end of each fiscal year and subject to the approval of the Company’s Board of Directors, you will be eligible for
a performance bonus based on your individual performance and the Company’s performance during the applicable fiscal year, as determined
by the Board in its sole reasonable discretion in accordance with certain milestones to be mutually agreed upon between you and the Board
each year. You must be an active employee of the Company on the date any bonus is distributed in order to be eligible for and to earn
a bonus award, as it also serves as an incentive to remain employed by the Company, provided that if the Company terminates your employment
without Cause or you terminate your employment for Good Reason you will be entitled to receive a pro-rated bonus (in accordance with
the mutually agreed upon milestones) for the applicable fiscal year. Such bonus will be payable not later than February 28 of the subsequent
year. Any bonus would be pro-rated for the 2016 calendar year based on your start date with the Company.

 

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4.
Subject to the terms and conditions thereof and all eligibility requirements, you may participate in any and all benefit programs that
the Company establishes and makes available to its employees from time to time, including healthcare insurance and 401K plan. You will
also be eligible for PTO in accordance with the Company’s PTO policy which shall provide for not less than 4 weeks of paid time
off. However, for the calendar year 2016, you shall not be eligible to take four weeks paid PTO as PTO is accrued each pay period. Additionally,
the PTO policy is structured such that employees are not be absent for more than two weeks at a time unless pre-approved in writing by
the CEO. The benefit programs made available by the Company, and the rules, terms and conditions for participation in such benefit programs,
may be changed by the Company at any time without advance notice but the amount of paid time off will not be reduced.

 

5.
In addition, if you accept this offer, it will be recommended at the first meeting of the Board following your Start Date that the Company
grant to you an option (the "Option") to purchase 485,150 shares of the Company's Common Stock, which represents approximately
(0.8%) of the Company's fully diluted Common Stock (on an as-converted basis), based on the pro forma capitalization of the Company assuming
the closing of both tranches of the Company's anticipated Series B Preferred Financing. The Option shall have an exercise price per share
equal to the fair market value of a share of the Company's Common Stock on the date of grant, as determined by the Board. 348,505 of
the shares subject to the Option (the "Immediate Vesting Shares'') shall vest as to 1/48th of the Immediate Vesting Shares on the
twelve (I2)-month anniversary of the Start Date, and as to 1/48th of the Immediate Vesting Shares monthly thereafter on the same day
of the month as your Start Date, so that the Immediate Vesting Shares will be fully vested and exercisable four (4) years from your Start
Date, subject to your continuing service with the Company through each relevant vesting date. Upon the completion of the Milestone Closing
(as defined below), the remaining 136,645 of the shares subject to the Option (the "Delayed Vesting Shares") shall vest as
to I/48th of the Delayed Vesting Shares on the one (1)-month anniversary of the Milestone Closing, and as to 1/48th of the Delayed Vesting
Shares monthly thereafter on the same day of the month as the Milestone Closing (and if there is no corresponding day, on the last day
of the month), so that the Delayed Vesting Shares will be fully vested and exercisable four (4) years from the date of the Milestone
Closing, subject to your continuing service with the Company through each relevant vesting date. In the event that your continuous service
ceases prior to the Milestone Closing, then the Delayed Vesting Shares and your right to acquire such shares will immediately terminate.
Shares will be subject to early exercise at your discretion. For these purposes, "Milestone Closing" shall refer to the completion
of the investment described in, and have such meaning as defined in, the Series B Preferred Stock Purchase Agreement, dated June 8, 2016.

 

6.
You will be required to execute the Company's standard form of At-Will Employment, Confidential Information, Invention Assignment, and
Arbitration Agreement (the “Employee Agreement”) as a condition of your employment. You represent that you are not bound
by any employment contract, restrictive covenant or other restriction preventing you from entering into employment with or carrying out
your responsibilities for the Company, or which is in any way inconsistent with the terms of this letter. You agree to provide to the
Company, within three days of your hire date, documentation of your eligibility to work in the United States, as required by the Immigration
Reform and Control Act of 1986. You may need to obtain a work visa in order to be eligible to work in the United States. If that is the
case, your employment with the Company will be conditioned upon your obtaining a work visa in a timely manner as determined by the Company.

 

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7.
This letter shall not be construed as an agreement, either expressed or implied, to employ you for any stated term, and shall in no way
alter the Company’s policy of employment at will, under which both you and the Company remain free to terminate the employment
relationship for any reason, with or without cause, at any time, and with or without notice. Similarly, nothing in this letter shall
be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your
employment with the Company, except to the extent specifically set forth in Section 6 hereof.

 

If
you agree with the employment provisions of this letter, please sign the enclosed duplicate of this letter in the space provided below
and return it to me along with a signed copy of the Employee Agreement. If you do not accept this offer by close of business on October
3, 2016, this offer will be revoked.

 

	 	Very truly yours,
	 	 	 
	 	Blade Therapeutics, INC.
	 	 	 
	 	By:	/s/ Wendye Robbins,
    MD
	 	Name: 	Wendye Robbins, MD
	 	Title:	President & CEO

 

The
foregoing correctly sets forth the terms of my at-will employment by Blade Therapeutics, Inc. I am not relying on any representations
other than those set forth above.

 

	By:	/s/ Felix
    Karim, Ph.D.	 	Date: 	October
    3, 2016
	Name: 	Felix Karim, Ph.D.	 	 	 

 

 

3
| P a g eExhibit 10.19

 

 

March 24, 2022

 

Wendye Robbins, M.D.

181 28th Avenue

San Francisco, CA 94121

 

Re: Proposed Compensation Adjustments

 

Dear Wendye:

 

Blade Therapeutics, Inc. (the
“Company”) would like to amend the terms of your employment (and your underlying offer letter dated July 7, 2016 (the “Offer
Letter”)) as set forth in this letter (this “Agreement”) to reflect the following adjustments to your compensation,
which will be subject to the consummation of the transactions currently contemplated involving the acquisition of the Company by a special
purpose acquisition company in order to complete a public offering of its common stock, following such transaction the Company or its
successor (a) is required to file periodic reports pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, and (b)
the Company’s common stock (or the successors common stock) is listed on one or more national securities exchanges or is quoted
on NASDAQ or a successor quotation system (the “SPAC Transaction”) and shall be deemed effective upon January 1, 2022 (the
“Effective Date”) following the consummation of the SPAC Transaction (the “Closing”). For purposes hereof, all
references to the Company shall include references to any successor of the Company following the Closing.

 

		1.	Subject to the occurrence of the Closing and your continued employment with the Company from the date
hereof through the Closing, effective as of the Effective Date, your Offer Letter will be deemed amended to provide that your annual base
salary will increased to the monthly rate of $49,058.33 (equivalent to an annualized base salary of $588,700, less applicable taxes and
withholdings to be paid in accordance with the Company’s regular payroll practices.

 

		2.	In addition, subject to the occurrence of the Closing and your continued employment with the Company from
the date hereof through the Closing, effective as of the Effective Date for the full calendar year 2022, your Offer Letter will be deemed
amended to provide that you will be eligible for an annual performance bonus up to 55.0% of your annual base salary (as adjsuted hereby).
Such annual performance bonus shall otherwise remain subject to the terms and conditions of the Offer Letter (including applicable performance
conditions and timing for payment).

 

		3.	Finally, subject to the occurrence of the Closing and your continued employment with the Company from
the date hereof through the Company’s registration of its shares on a Form S-8 following the Closing, the Company’s board
of directors (or applicable sub-committee) will grant you an option to purchase additional shares of the Company’s common stock
thereby adjusting your overall equity ownership to the seventy fifth (75%), percentile or 4.99%, with an exercise price per share equal
to the fair market value of the common stock of the Company (or its successor) on the date of grant (the “Option”). The number
of shares subject to the Option shall be adjusted in accordance with the transaction documents evidencing the SPAC Transaction, as if
the Option was outstanding as of the date hereof. The Option shall vest as to 1/48th of the shares subject to the Option on
each monthly anniversary of the effectvie date as determined by the board, subject to your continuing service with the Company hrough
each relevant vesting date. The Option shall be subject to the terms and conditions of the Company’s equity plan to be approved
in connection with the SPAC Transaction and an individual Option agreement between you and the Company.

 

This Agreement, collectively
with your Offer Letter (as amended by this Agreement) and the other documents referenced herein, constitutes the entire agreement between
you and the Company with respect to the subject matter hereof and supersedes and merges all prior agreements or understandings, whether
written or oral. You understand that the amendment to your Offer Letter to reflect the terms of this Agreement will become effective only
upon the Closing (subject to your continued employment through such date), and in the event the Closing does not occur or your employment
with the Company is termianted for any reason prior to the Closing, this Agreement shall be no further force or effect. You acknowledge
that, except as provided in this Agreement, your Offer Letter shall remain in full force and effect.

 

 

     

     

    

 

 

If the foregoing accurately reflects our agreement, please sign this
Agreement and return a copy to me by April 8, 2022.

 

	 	 	 	 	Very truly yours,
	 	 	 	 	Blade Therapeutics, Inc.
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	By:	Mark Timney
	 	 	 	 	Title:	Chairman
	 	 	 	 	 	 
	Accepted and Agreed to by:	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Wendye Robbins, M.D.	 	Date

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