Document:

EX-10.5

 Exhibit 10.5 

ZYMEWORKS INC. 
 AMENDED
AND RESTATED EMPLOYEE STOCK PURCHASE PLAN 
 Article 1 - Purpose 

This Amended and Restated Employee Stock Purchase Plan (the “Plan”) is intended to encourage share ownership by all eligible
employees of Zymeworks Inc. (the “Company”), a corporation governed by the laws of the State of Delaware, and each of its Participating Subsidiaries (and, if applicable, any Parent), so that they may participate in any future growth
of the Company by acquiring or increasing their interest in common stock of the Company. The Plan is designed to encourage eligible employees to remain in the employ of the Company and its Participating Subsidiaries. The Plan is intended to
constitute an “employee stock purchase plan” within the meaning of Section 423(b) of the United States Internal Revenue Code of 1986, as amended (the “Code”) and shall be construed and administered in
accordance with such intention. 
 Article 2 - Definitions 

The term “Affiliate” means any entity, other than a Subsidiary, that (a) directly or indirectly, is controlled by,
controls or is under common control with, the Company, or (b) any entity in which the Company has a significant equity interest, in either case as determined by the Committee, whether now or hereafter existing. 

The term “applicable law” means any applicable law, domestic or foreign, including without limitation, applicable securities
legislation, together with all regulations, rules, policy statements, rulings, notices, orders or other instruments thereunder and the rules of each securities exchange or quotation system on which securities of the Company are listed and posted for
trading. 
 The term “Arrangement Effective Time” has the meaning given to that term in the Transaction Agreement. 

The term “business day” means a day on which there is trading on the Primary Stock Exchange or, if the Common Shares do not
trade on a securities exchange, a day that is not a Saturday, Sunday or statutory holiday in the Province of British Columbia. 
 The term
“Code” has the meaning set forth in Article 1. 
 The term “Committee” has the meaning set forth
in Article 3. 
 The term “Common Shares” or “Common Stock” has the meaning set forth in Article
5. 
 The term “Effective Time” has the meaning set forth in Article 28. 

The term “eligible employee” means an individual who is eligible as determined in accordance with Article 4. 

The term “Insider Trading Policy” refers to the insider trading policy of the Company, pursuant to which directors and
certain officers and employees of the Company and participating Subsidiaries are prohibited from trading in securities of the Company during regularly scheduled and additional periods referred to as “trading black-outs periods”.

 The term “Market Price” means, on any particular day, (i) the closing sale price of a Common Share on the Primary
Stock Exchange on such day (or, if such day is not a trading day, then on the trading day immediately preceding such day), if the Common Shares are then traded on a securities exchange or quotation system; or (ii) the average of the closing bid
and asked prices last quoted on such day, or if such day is not a trading day, then on the trading day immediately preceding such day by an established quotation service
for over-the-counter securities, if the Common Shares are not traded on a national securities exchange or quotation system; or (iii) if the Common Shares
are not publicly traded, the fair market value of the Common Shares on such date as determined by the Committee after taking into consideration all factors which it deems appropriate, including, without limitation, recent sale and offer prices of
the Common Shares in private transactions negotiated at arm’s length. 

 The term “NYSE” means the New York Stock Exchange. 

The term “Offering” means an offer under the Plan of Purchase Rights which will automatically be exercised at the end of a
Purchase Period, all as further described in Article 7 and Article 8. Unless otherwise specified by the Committee, each Offering under the Plan to the eligible employees of the Company or a Participating Subsidiary shall be deemed a
separate Offering, even if the dates of the applicable Purchase Period of each such Offering are identical, and the provisions of the Plan will separately apply to each Offering. For clarity, there is only one Purchase Period per Offering. 

The term “Parent” means a “parent corporation” with respect to the Company, as defined in
Section 424(e) of the Code. 
 The term “Participant” means an individual who is eligible as determined in accordance
with Article 4 to participate in the Plan and who has complied with the provisions of Article 9. 
 The term
“Participating Subsidiary” shall mean any present or future Subsidiary that is designated from time to time by the Board to participate in the Plan. The Board shall have the power to make such designation before or after the Plan is
approved by the shareholders. 
 The term “Primary Stock Exchange” means a securities exchange where the majority of the
trading volume of the Common Shares has occurred for the five (5) trading days immediately preceding the relevant date. 
 The term
“Purchase Date” has the meaning set forth in Article 7. 
 The term “Purchase Period” has the meaning
set forth in Article 6. 
 The term “Purchase Price” has the meaning set forth in Article 7. 

The term “Purchase Right” means a right to purchase Common Shares in accordance with the provisions of this Plan. 

The term “securities exchange” means the NYSE or the TSX or, if the Common Shares are not then listed and posted for trading
on the NYSE or the TSX, such other securities exchange on which such Common Shares are listed and posted for trading as may be selected for such purpose by the Committee. 

The term “Subsidiary” means a “subsidiary corporation” with respect to the Company, as defined in
Section 424(f) of the Code. 
 The term “Transaction Agreement” means the Restated and Amended Transaction Agreement
dated August 18, 2022 by and among the Company (then-referred to as Zymeworks Delaware Inc.), Zymeworks Inc., a company then-existing under the Business Corporations Act (British Columbia), Zymeworks Callco ULC, and Zymeworks ExchangeCo
Ltd. as the same may be amended, modified or supplemented from time to time in accordance therewith, prior to the Arrangement Effective Time. 

The term “TSX” means the Toronto Stock Exchange. 

Article 3 - Administration of the Plan 

The Plan will be administered by the Compensation Committee (the “Committee”) of the Company’s board of directors (the
“Board”). Acts by a majority of the Committee, or acts reduced to or approved in writing by a majority of the members of the Committee, shall be the valid acts of the Committee. For any period during which no such committee

  
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is in existence, “Committee” shall mean the Board and all authority and responsibility assigned to the Committee under the Plan shall be exercised, if at all, by the Board, and
the term “Committee” wherever used herein shall be deemed to mean the Board. 
 The Committee has the full discretionary
authority (consistent with and subject to the provisions of Section 423 of the Code and related regulations) at any time to: (i) adopt, alter and repeal such rules, guidelines and practices for the administration of the Plan and for its
own acts and proceedings as it shall deem advisable (including, without limitation, to adopt such procedures and sub-plans as are necessary or appropriate to permit the participation in the Plan by
employees who are not subject to tax under the Code); (ii) interpret the terms and provisions of the Plan; (iii) make all determinations it deems advisable for the administration of the Plan; (iv) designate separate Offerings under the
Plan; (v) decide all disputes arising in connection with the Plan; and (vi) otherwise supervise the administration of the Plan. All interpretations and decisions of the Committee shall be binding on all persons, including the Company and
the Participants, unless otherwise determined by the Board. No member of the Board, the Committee or individual exercising administrative authority with respect to the Plan shall be liable for any action or determination made in good faith with
respect to the Plan or any Purchase Right granted hereunder. 
 Article 4 - Eligible Employees 

All individuals classified as employees on the payroll records of the Company and each Participating Subsidiary are eligible to participate in
any one or more of the Purchase Periods under the Plan, provided that as of the first business day of the applicable Purchase Period they are customarily employed by the Company or a Participating Subsidiary for more than twenty (20) hours a
week, or any lesser number of hours per week established by the Committee for purposes of any separate Offering. Notwithstanding any other provision herein, individuals who are not classified as employees of the Company or a
Participating Subsidiary for purposes of the Company’s or applicable Participating Subsidiary’s payroll system are not considered to be eligible employees of the Company or any Participating Subsidiary and shall not be eligible to
participate in the Plan. Eligible employees who are Participants on the first business day of any Purchase Period shall receive their Purchase Rights as of such day. Individuals who become Participants after the first business day of any Purchase
Period shall be granted Purchase Rights on the first day of the next succeeding Purchase Period on which Purchase Rights are granted to eligible employees under the Plan. 

In any event, no employee may be granted a Purchase Right under the Plan if such employee, immediately after the Purchase Right was granted,
would be treated as owning shares possessing five percent or more of the total combined voting power or value of all classes of shares of the Company or of any Parent or Subsidiary. For purposes of determining ownership under this paragraph, the
rules of Section 424(d) of the Code shall apply, and shares of the Company or any Parent or Subsidiary which the employee may purchase under outstanding Purchase Rights and options shall be treated as shares owned by the employee. 

Article 5 - Shares Subject to the Plan 

The shares issuable under the Plan shall be made available from authorized but unissued common stock of the Company (the “Common
Shares” or “Common Stock”). Subject to the provisions of Article 14 relating to capitalization adjustments, the maximum number of Common Shares that may be issued under the Plan will not exceed 272,350 Common
Shares, plus the number of Common Shares that are automatically added on January 1st of each year, commencing on (and including) January 1, 2018 and ending on (and
including) January 1, 2027, in an amount equal to the lesser of (i) 1% of the total number of Common Shares issued and outstanding on December 31st of the preceding
calendar year, and (ii) 419,000 Common Shares. Notwithstanding the foregoing, the Board may act prior to the first day of any calendar year to provide that there will be no January 1 increase in the share reserve for such calendar year or that
the increase in the share reserve for such calendar year will be a lesser number of Common Shares than would otherwise occur pursuant to the preceding sentence. If any Purchase Right granted under the Plan shall expire or terminate for any reason
without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, the unpurchased Common Shares subject thereto shall again be available under the Plan. 

  
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 Article 6 - Purchase Period 

Purchase periods during which payroll deductions will be accumulated under the Plan shall consist of the six month periods commencing on
January 1 and July 1, and ending on June 30 and December 31 of each calendar year, provided that the Committee may establish different purchase periods, from time to time, in advance of their commencement having a duration of
three months to twenty-four months (each, a “Purchase Period” and collectively, the “Purchase Periods”). Contributions under the Plan shall be made by way of payroll deductions in accordance with Article 10.

 Article 7 - Grant of Purchase Rights 

On the first business day of a Purchase Period (the “Offering Date”), the Company will grant to each eligible employee who is
then a Participant in the Plan a Purchase Right exercisable on the last day of such Purchase Period (the “Purchase Date”) to purchase, at the Purchase Price hereinafter provided for, the number of Common Shares determined by
dividing such Participant’s accumulated payroll deductions during the Purchase Period by the applicable Purchase Price, all in accordance with this Plan and on the condition that such employee remains eligible to participate in the Plan
throughout the remainder of such Purchase Period; provided, however, that such Purchase Right shall be subject to the limitations set forth below. 

The purchase price per Common Share (the “Purchase Price”) to be paid by each Participant shall be specified by the Board, in
its discretion, in advance of any Purchase Period; provided, however, that the Board shall not specify a Purchase Price that is less than the lesser of (i) eighty-five percent (85%) of the Market Price of the Common Shares on the Offering Date,
rounded up to the nearest cent, or (ii) eighty-five percent (85%) of the Market Price of the Common Shares on the Purchase Date, rounded up to the nearest cent. The foregoing limitation on the Purchase Price shall be subject to adjustments as
provided in Article 14. 
 Only whole Common Shares may be purchased under the Plan. Unused payroll deductions remaining in a
Participant’s account at the end of a Purchase Period by reason of the inability to purchase a fractional share shall be carried forward to the next Purchase Period. 

No Participant under the Plan may be granted a Purchase Right that permits the Participant’s rights to purchase Common Shares under the
Plan, and any other Section 423(b) employee stock purchase plans of the Company and its Parent and Subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of such shares (determined on the Purchase Right grant date or
dates) for each calendar year in which the Purchase Right is outstanding at any time. The purpose of the limitation in the preceding sentence is to comply with Section 423(b)(8) of the Code. If the Participant’s accumulated payroll
deductions on the Purchase Date would otherwise enable the Participant to purchase Common Shares in excess of the Section 423(b)(8) limitation described in this paragraph, the excess of the amount of the accumulated payroll deductions over the
aggregate Purchase Price of the Common Shares actually purchased shall be promptly refunded to the Participant by the Company, without interest. 

Article 8 - Exercise of Purchase Right 

Each eligible employee who continues to be a Participant in the Plan on the Purchase Date shall be deemed to have exercised his or her Purchase
Right on such date and shall be deemed to have purchased from the Company such number of whole Common Shares reserved for the purpose of the Plan as the Participant’s accumulated payroll deductions on such date will pay for at the Purchase
Price, subject to the limitations described in Article 7. If the individual is not a Participant on the Purchase Date, then he or she shall not be entitled to exercise his or her Purchase Right. 

Article 9 - Plan Enrollment 
 An
eligible employee may elect to enter the Plan, at the election of the Committee, (i) through an electronic enrollment that provides required enrollment information requested by the Company, or (ii) by filling out, signing and delivering to
the Company an authorization in a form specified by the Committee, in either case: 
  

	 	A.	 stating the percentage to be deducted regularly from the employee’s Compensation (as defined
in Article 10 below) (or contributed by other means to the extent permitted by the Committee); 

  
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	 	B.	 authorizing the purchase of Common Shares for the employee in each Purchase Period in accordance with the terms
of the Plan; and 

  

	 	C.	 specifying the exact name or names in which Common Shares purchased for the employee are to be issued as
provided under Article 13 hereof. 

 Such enrollment or authorization must be received by the Company at least ten
days before the first day of the next succeeding Purchase Period and shall take effect only if the employee is an eligible employee on the first business day of such Purchase Period, unless otherwise required by applicable law. 

Unless a Participant completes a new election under Article 11 or withdraws from the Plan or no longer meets the eligibility
requirements in Article 4, the deductions and purchases under the enrollment or authorization on file for the Participant under the Plan will continue automatically from one Purchase Period to succeeding Purchase Periods as long as the Plan
remains in effect. 
 The Company will accumulate and hold for each Participant’s account the amounts deducted from his or her pay. No
interest will be paid on these amounts. 
 Notwithstanding the foregoing, participation in the Plan will neither be permitted nor be denied
contrary to the requirements of Section 423 of the Code or other applicable law. 
 Article 10 - Maximum Amount of Payroll Deductions

 Each eligible employee may authorize payroll deductions in an amount (expressed as a whole percentage) not less
than one percent and not more than fifteen percent of such employee’s Compensation for each pay period. An amount equal to the elected percentage of the Participant’s base salary, paid on a gross basis before any
deduction for tax or other amounts (“Compensation”), shall be deducted on each regular payday falling within the Purchase Period. All amounts will be calculated on the Participant’s gross Compensation, and deducted from a
Participant’s net pay on an after-tax basis. The Company will maintain book accounts showing the amount of payroll deductions made on behalf of each Participant for each Purchase Period. 

Article 11 - Change in Payroll Deductions 

A Participant may elect to decrease his or her rate of payroll deduction by submitting an election (which may be in electronic form), at any
time during a Purchase Period, in accordance with, and if and to the extent permitted by, procedures established by the Company from time to time, which may, if permitted by the Company, include a decrease to zero percent; provided, however, that
unless determined otherwise by the Committee, a decrease to zero percent shall be a deemed withdrawal from the Plan. Any such election is subject to compliance with the Company’s Insider Trading Policy and applicable trading black-out periods. 
 A Participant that stops payroll deductions in any Purchase Period
in accordance with the foregoing or that withdraws from the Plan may not elect to participate further in the Plan until the next Purchase Period. 

Article 12 - Withdrawal from the Plan 

A Participant may withdraw from participation in the Plan (in whole but not in part) at any time, except, with respect to withdrawal from a
Purchase Period, on or after the last business day immediately preceding the last day of the Purchase Period, in accordance with the procedures prescribed by the Committee by delivering a notice of withdrawal (which may be in electronic form) to the
Company or a person designated by the Company. The Participant’s withdrawal will be effective as of the next business day. Following a Participant’s withdrawal, the Company will promptly refund the amount of the Participant’s
aggregate payroll deductions for that Purchase Period to him or her (after payment for any Common Shares purchased before the effective date of withdrawal), without interest. Partial withdrawals are not permitted. Any such withdrawal is subject to
compliance with the Company’s Insider Trading Policy and applicable trading black-out periods. 

  
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 Such an employee may not begin participation again during the remainder of the Purchase
Period during which the withdrawal took place, but may enroll in a subsequent Purchase Period in accordance with Article 9. The employee’s re-entry into the Plan becomes effective at the
beginning of such Purchase Period, provided that he or she is an eligible employee on the first business day of the Purchase Period. 
 Article 13 -
Issuance of Common Shares 
 The Common Shares purchased by Participants will be issued to the Participant as soon as practicable
after each Purchase Date. 
 Article 14 - Adjustments 

Upon the happening of any of the following described events, a Participant’s Purchase Rights granted under the Plan shall be adjusted as
hereinafter provided. 
 In the event that the Common Shares shall be subdivided or consolidated into a greater or smaller number of shares
or if, upon a reorganization, split-up, liquidation, recapitalization or the like of the Company, the Common Shares shall be exchanged for other securities of the Company, each Participant shall be
entitled, subject to the conditions herein stated, to purchase such number of Common Shares or amount of other securities of the Company as were exchangeable for the number of Common Shares that such Participant would have been entitled to purchase
except for such action, and appropriate adjustments shall be made in the purchase price per share to reflect such subdivision, consolidated or exchange (consistent with the provisions of Section 424 of the Code). 

Upon the happening of any of the foregoing events, the class and aggregate number of Common Shares set forth in Article 5 hereof
which are subject to Purchase Rights which have been or may be granted under the Plan and the limitations set forth in Articles 7 and 8 shall also be appropriately adjusted to reflect the events specified in the above paragraph (consistent
with the provisions of Section 424 of the Code). 
 If the Company is to be consolidated with or acquired by another entity in a
merger, a sale of all or substantially all of the Company’s assets or otherwise (an “Acquisition”), the Committee or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor
Board”) shall, with respect to Purchase Rights then outstanding under the Plan, either (i) make appropriate provision for the continuation of such Purchase Rights by arranging for the substitution on an equitable basis for the shares
then subject to such Purchase Rights of either (a) the consideration payable with respect to the outstanding Common Shares in connection with the Acquisition, (b) shares of the successor corporation, or a parent or subsidiary of such
corporation, or (c) such other securities as the Successor Board deems appropriate, the fair market value of which shall not exceed the fair market value of the Common Shares subject to such Purchase Rights immediately preceding the
Acquisition; or (ii) terminate each Participant’s Purchase Rights in exchange for a cash payment equal to (a) the fair market value on the date of the Acquisition, of the number of Common Shares that the Participant’s accumulated
payroll deductions as of the date of the Acquisition could purchase, at a purchase price determined with reference only to the first business day of the applicable Purchase Period and subject to Code Section 423(b)(8) and fractional-share
limitations on the amount of shares a Participant would be entitled to purchase, less (b) the result of multiplying such number of shares by such purchase price. Any actions taken pursuant to this paragraph shall comply with the requirements of
Section 424 of the Code. The Board may also determine to terminate the Plan in accordance with Article 20 prior to the completion of an Acquisition. 

The Committee or Successor Board shall determine the adjustments to be made under this Article 14, and its determination shall be
conclusive. 
 Article 15 - No Transfer or Assignment of Employee’s Rights 

A Purchase Right granted under the Plan or a Participant’s other rights under the Plan may not be pledged, assigned, encumbered or
otherwise transferred for any reason, except by will or laws of descent and distribution, and are exercisable during the Participant’s lifetime only by the Participant. Any attempt to pledge, assign, encumber or transfer a Purchase Right or any
other rights hereunder will be deemed to be an election by the Participant to withdraw from the Plan in accordance with Article 12. 

  
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 Article 16 - Designation of Beneficiary 

A Participant may file a written designation of a beneficiary who is to receive any Common Shares and cash, if any, from the Participant’s
account under the Plan in the event of such Participant’s death subsequent to a Purchase Date on which the Purchase Right is exercised but prior to delivery to him or her of such Common Shares and cash. In addition, a Participant may file a
written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death prior to the exercise of a Purchase Right. 

Such designation of beneficiary may be changed by the Participant (and his or her spouse, if any) at any time by written notice to the
Company. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver such Common Shares and/or cash to the
executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such Common Shares and/or cash to the spouse or to
any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

Article 17 - Termination of Employee’s Rights 

Whenever a Participant ceases to be an eligible employee because of retirement, voluntary or involuntary termination, resignation, layoff,
discharge, death or for any other reason before the Purchase Date for any Purchase Period, the Purchase Right will automatically be terminated on the date that the Participant ceases to be an eligible employee except in the case of involuntary
termination, in which case the Purchase Right will automatically be terminated on the date that notice of termination of employment is delivered to the eligible employee. In such event, the Company shall promptly refund the entire balance of the
Participant’s payroll deduction account, without interest, to such Participant or, in the case of such Participant’s death, to his or her designated beneficiary, as if such Participant had withdrawn from the Plan in accordance
with Article 12. Notwithstanding the foregoing, eligible employment shall be treated as continuing intact while a Participant is on sick leave or other bona fide leave of absence, for up to three months, or for so long as the Participant’s
right to re-employment is guaranteed either by statute or by contract, if longer than three months. 

This Plan does not, directly or indirectly, create any right for the benefit of any employee or class of employees to preferentially purchase
any Common Shares under the Plan, or create in any employee or class of employees any right with respect to continuation of employment by the Company, and it shall not be deemed to interfere in any way with the Company’s right to terminate, or
otherwise modify, an employee’s employment at any time. 
 Article 18 - Special Rules 

Notwithstanding anything herein to the contrary, the Committee may adopt special rules applicable to the employees of a particular
Participating Subsidiary, whenever the Committee determines that such rules are necessary or appropriate for the implementation of the Plan in a jurisdiction where such Participating Subsidiary has employees; provided that, in the event the
Participating Subsidiary has employees in the United States, such rules are consistent with the requirements of Section 423(b) of the Code and the regulations promulgated thereunder. Any special rules established pursuant to this Article
18 shall, to the extent possible, result in the employees subject to such rules having substantially the same rights as other Participants in the Plan. 

Article 19 - Interest 
 No interest
will accrue on the accumulated payroll deductions or other contributions permitted by the Committee of a Participant, except as may be required by applicable local law, as determined by the Company, and if so required by the laws of a particular
jurisdiction, shall apply to all Participants in the relevant Offering under the Plan, except to the extent otherwise permitted by applicable law. 

  
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 Article 20 - Termination and Amendments to Plan 

The Plan may be terminated at any time by the Board but such termination shall not affect Purchase Rights then outstanding under the Plan. It
will terminate in any case when all of the unissued Common Shares reserved for the purposes of the Plan have been purchased. If at any time Common Shares reserved for the purpose of the Plan remain available for purchase but not in sufficient number
to satisfy all then unfilled purchase rights, the available Common Shares shall be allocated pro rata among Participants in proportion to the amount of payroll deductions accumulated on behalf of each Participant that would
otherwise be used to purchase Common Shares, and the Plan shall terminate. Upon any termination of the Plan, all payroll deductions not used to purchase Common Shares will be refunded, without interest. 

The Committee or the Board may from time to time adopt amendments to the Plan provided that, without the approval of the shareholders of the
Company, no amendment may (i) increase the number of Common Shares that may be issued under the Plan (other than pursuant to an equitable adjustment under Article 14); (ii) change the entities which may participate in the Plan;
(iii) increase the maximum percentage of base salary during any pay period or the maximum dollar amount in any one calendar year that any eligible Participant may direct be contributed, pursuant to the Plan, towards the purchase of Common
Shares on his or her behalf through payroll deductions; (iv) increase the Purchase Price discount as further described in Article 7; or (v) change the entity which grants shares under the Plan or the securities available under
the Plan (other than pursuant to an equitable adjustment under Article 14). Subject to the qualifications set out in the immediately following paragraph, all other amendments to the Plan, including but not limited to any reasonable amendment to
the mechanism for determining the Market Price, may be made without the approval of shareholders. 
 Notwithstanding any other provision in
the Plan, any modification or amendment to the Plan shall be completed in a manner that is compliant with all applicable laws and requirements of any stock exchange or governmental or regulatory body, including the requirements of Section 423
of the Code and the listing standards of the NYSE. In addition, any modification or amendment to the Plan will be subject to the prior approval of the TSX to the extent that the Common Shares are listed on the TSX at the time of such proposed
termination, modification or amendment. 
 No Purchase Rights may be issued under the Plan from and after the tenth anniversary of the date
upon which the Effective Time occurs or such later date as is approved by shareholders of the Company following the Effective Time. 
 Article 21 -
Limits on Sale of Shares Purchased under the Plan 
 The Plan is intended to provide Common Shares for investment and not for resale.
The Company does not, however, intend to restrict or influence any employee in the conduct of his or her own affairs. An employee may, therefore, sell Common Shares purchased under the Plan at any time the employee chooses, subject to compliance
with any applicable U.S. and non-U.S. federal, state and provincial securities laws and regulations; subject to any restrictions imposed under Article 25 to ensure that tax withholding obligations
are satisfied; subject to compliance with the terms of the Company’s Insider Trading Policy; and subject to compliance with any conditions imposed by the Committee or the Board under the Plan with respect to any subsequent purchases made by
Participants under the Plan. THE EMPLOYEE ASSUMES THE RISK OF ANY MARKET FLUCTUATIONS IN THE PRICE OF THE COMMON SHARES. 
 Article 22 -
Participants as Holders of Rights, Not Shareholders 
 Neither the granting of a Purchase Right to a Participant nor the deductions
from his or her pay shall constitute such Participant a shareholder of the shares covered by a Purchase Right under the Plan until such shares have been purchased by and issued to him or her. 

Article 23 - Application of Funds 

All funds received or held by the Company under the Plan may be combined with other corporate funds, and may be used for general corporate
purposes. 

  
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 Article 24 - Notice to Company of Disqualifying Disposition 

By electing to participate in the Plan, each United States of America resident agrees to notify the Company in writing immediately
after the Participant transfers Common Shares acquired under the Plan, if such transfer occurs within two years after the first business day of the Purchase Period in which such Common Shares were acquired or within one year of the acquisition of
such Common Shares. Each Participant further agrees to provide any information about such a transfer as may be requested by the Company or any Subsidiary in order to assist it in complying with the tax laws. 

Article 25 - Withholding of Additional Taxes 

By electing to participate in the Plan, each Participant acknowledges that the Company and its Participating Subsidiaries are required to
withhold taxes with respect to the amounts deducted from the Participant’s Compensation and accumulated for the benefit of the Participant under the Plan, and each Participant agrees that the Company and its Participating Subsidiaries may
deduct additional amounts from the Participant’s Compensation, when amounts are added to the Participant’s account, used to purchase Common Shares or refunded, in order to satisfy such withholding obligations. Each Participant further
acknowledges that when Common Shares are purchased under the Plan the Company and its Participating Subsidiaries may be required to withhold taxes with respect to all or a portion of the difference between the fair market value of the Common Shares
purchased and their purchase price and any other taxable benefit arising from participation in the Plan, and each Participant agrees that such taxes may be withheld from Compensation otherwise payable to such Participant. It is intended that tax
withholding will be accomplished in such a manner that the full amount of payroll deductions elected by the Participant under Article 9 will be used to purchase the Common Shares. However, if amounts sufficient to satisfy applicable tax
withholding obligations have not been withheld from Compensation otherwise payable to any Participant, then, notwithstanding any other provision of the Plan, the Company may: (a) withhold such taxes from the Participant’s accumulated
payroll deductions and apply the net amount to the purchase of Common Shares, unless the Participant pays to the Company, prior to the Purchase Date, an amount sufficient to satisfy such withholding obligations, or (b) with the authorization of
and on behalf of the Participant, sell in the market on such terms and at such time or times as the Company determines, a portion of the Common Shares issued to the Participant under the Plan to realize cash proceeds to be used to satisfy the
required tax remittance. Each Participant further acknowledges that the Company and its Participating Subsidiaries may be required to withhold taxes in connection with the disposition of Common Shares acquired under the Plan and agrees that the
Company or any Participating Subsidiary may take whatever action it considers appropriate to satisfy such withholding requirements, including deducting from Compensation otherwise payable to such Participant an amount sufficient to satisfy such
withholding requirements or conditioning any disposition of Common Shares by the Participant upon the payment to the Company or such Participating Subsidiary of an amount sufficient to satisfy such withholding requirements. For purposes of
this Article 25, “taxes” include all remuneration-related deductions, withholdings and contributions required by any governmental authority. 

Article 26 - Governmental Regulations 

The Company’s obligation to sell and deliver Common Shares under the Plan is subject to the approval of any governmental authority
required in connection with the authorization, issuance or sale of such shares. Common Shares shall not be issued with respect to a Purchase Right granted under the Plan unless the exercise of such Purchase Right and the issuance and delivery of the
shares of Common Shares pursuant thereto shall comply with all applicable laws and regulations and the requirements of any stock exchange upon which the shares may then be listed. 

Article 27 - Governing Law 
 The
validity and construction of the Plan shall be governed by the laws of (i) with respect to Purchase Periods beginning prior to the Arrangement Effective Time, British Columbia, without giving effect to the principles of conflicts of law
thereof, and (ii) with respect to Purchase Periods beginning on or after the Arrangement Effective time, the state of Delaware, without giving effect to the principles of conflicts of law thereof. 

Article 28 - Effective Time 
 This
Plan became effective at the time (the “Effective Time”) immediately preceding the closing of the initial public offering of the Zymeworks Common Shares (as defined under the Transaction Agreement), was approved by the

  
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holders of a majority of the Zymeworks Common Shares present or represented by proxy at the annual meeting of the shareholders of Zymeworks, held after the date on which the Plan was adopted by
the Zymeworks Board of Directors, and in a manner that complies with Section 423(b)(2) of the Code and applicable Canadian law. Notwithstanding the foregoing, the terms of this Plan shall not apply until Purchase Periods commencing
on or after July 1, 2017, unless otherwise determined by the Committee, and provided further, that as specified herein, certain terms of this Plan apply before or after the Arrangement Effective Time. The amendment and restatement through the
Arrangement Effective Date is effective as of, and contingent upon, the Arrangement Effective Time. 
 Article 29 - Miscellaneous 

All references to currency herein are to U.S. funds unless otherwise indicated.  

  
 -10-EX-10.1

 Exhibit 10.1 

Employment Agreement 

This Employment Agreement (“Agreement”) is entered into as of October 12, 2022, by and between Patterson Companies, Inc.
(the “Company”) and Donald J. Zurbay (referred to herein as “Executive”) (the Company and Executive are collectively referred to herein as “Parties,” and each a “Party”). 

WHEREAS, the Company desires to employ Executive to render services to the Company on the terms and conditions set forth in this Agreement;
and 
 WHEREAS, Executive desires to be employed by the Company on such terms and conditions; 

NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained and other good and valuable consideration, receipt of
which is hereby acknowledged, it is hereby agreed: 
 1. Term. Executive’s employment hereunder shall commence as of
October 12, 2022 (the “Effective Date”), and continue thereafter for a three (3) year period until October 11, 2025, unless and until terminated earlier pursuant to the terms of this Agreement (the
“Term”). Notwithstanding the foregoing, the Term shall automatically be extended for additional one-year periods (each, a “Renewal Term”) on the terms and conditions
provided herein, unless either Party shall give the other Party no less than ninety (90) days’ written notice prior to the expiration of the Term or Renewal Term, as applicable. The Term and the Renewal Term, if applicable, shall be
collectively referred to as the “Employment Term.” 
 2. Employment. During the Employment Term: 

a. Position and Duties. Executive shall be employed by the Company as its President and Chief Executive Officer.
Executive shall report to and be subject to the direction of the Company’s Board of Directors (the “Board”). Executive shall perform the duties, undertake the responsibilities and exercise the authority customarily and
reasonably performed, undertaken and exercised by persons situated in similar executive capacities. 
 b. Officer
and Director Positions; Resignation. Executive shall be appointed to serve on the Board in a non-Chairman position as of the Effective Date. Thereafter, Executive shall be nominated, and will be elected
subject to shareholder approval, to serve successive terms on the Board in a non-Chairman position. Executive will be entitled to director and officer liability insurance coverage and indemnification as
provided by the Company to its other officers. At the time of his termination of employment with the Company for any reason, Executive shall resign and shall be deemed to have resigned from each officer and director position he holds with the
Company or its affiliates within the meaning of Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Executive agrees that
this Agreement shall constitute affirmation of such resignations. The preceding sentence shall survive the termination of the Employment Term. 
  

 c. Full Time; Other Activities. Excluding periods of vacation
and sick leave to which Executive is entitled, Executive shall devote his full professional time and attention to the business and affairs of the Company and shall perform Executive’s duties and responsibilities loyally, faithfully and to the
best of Executive’s ability, experience and talents. Notwithstanding the foregoing, it shall not be a violation of this Agreement for Executive to serve on one or more boards of companies that do not engage in a Competing Business (as defined
below) and/or civic or charitable boards or committees, deliver lectures, fulfill speaking engagements and manage personal investments, so long as such activities, individually or collectively, do not create a conflict of interest or materially
interfere with the performance of Executive’s responsibilities as an employee of the Company in accordance with this Agreement; provided, however, that Executive shall, prior to accepting a Board position, have first provided the Board notice
and obtained its consent. 
 d. Employment Location. Executive’s principal place of employment shall be
located at the headquarters of the Company in St. Paul, Minnesota, provided that Executive shall travel and shall temporarily render services at other locations as may reasonably be required by his duties hereunder. 

e. Company Policies. Executive shall be subject to and shall abide by each of the personnel policies applicable
to officers of the Company, including without limitation any policy restricting pledging and hedging investments in Company equity by Company officers and, in addition to the provisions of Section 6 of this Agreement, any policy the Company
adopts regarding recovery of incentive compensation (sometimes referred to as “clawback”) and any additional clawback provisions as required by law and applicable stock exchange listing rules. The preceding sentence shall survive the
termination of the Employment Term. 
 3. Annual Compensation. During the Employment Term: 

a. Base Salary. Executive shall be paid a base salary at an annualized rate of $900,000 (“Base
Salary”), payable in equal installments pursuant to the Company’s regular payroll dates and procedures. The Base Salary shall be reviewed on an annual basis and may be increased based on Executive’s performance and contribution to
the Company or other appropriate factors, as determined in the sole discretion of the Board. 
 b. Non-Equity Incentive Plan Compensation. Executive shall be eligible to earn annual cash incentive compensation, which is payable if a threshold level of performance is achieved, pursuant to the terms of the
Company’s Management Incentive Compensation Plan (“MICP”). If performance at target under the MICP is achieved, Executive’s annual cash incentive compensation shall be $839,658 for fiscal year 2023 (representing 11/24ths
of $502,435 (Executive’s target as CFO, which was 85% of $591,100) and 13/24ths of $1,125,000 (Executive’s target as CEO, which is 125% of $900,000)) and $1,125,000 for any full year of employment thereafter; provided that Executive shall
be eligible to earn additional cash incentive compensation for a given fiscal year if performance above target under the MICP is achieved. Annual cash incentive compensation shall be reviewed on an annual basis and may be increased based on
Executive’s performance and contribution to the Company and other appropriate factors, as determined in the sole discretion of the Board. 

  
 2 

 c. Long-Term Incentives. Executive shall be eligible to
receive annual long-term equity-based incentive compensation pursuant to the terms of the Company’s Amended and Restated 2015 Omnibus Incentive Plan (the “Omnibus Plan”), or any successor plan thereto, and the terms of
Executive’s grant agreements, which annual awards currently consist of 50% performance stock units, 25% stock options, and 25% restricted stock units, with an aggregate target value of $3,500,000 for fiscal year 2024 and any full year of
employment thereafter. On July 1, 2023, Executive shall be granted the above-referenced long-term equity-based incentive awards for fiscal year 2024. Annual long-term incentive compensation shall be reviewed on an annual basis and may be
increased based on Executive’s performance and contribution to the Company and other appropriate factors, as determined in the sole discretion of the Board. 

4. One-Time Incentive Awards. On December 5, 2022, Executive shall be granted
(i) a restricted stock unit award under the Omnibus Plan covering a number of shares of the Company’s common stock with a value of $1,150,000 based on the per-share closing price of the
Company’s common stock on December 5, 2022, and (ii) a non-statutory stock option under the Omnibus Plan with an approximate value of $1,150,000, a
per-share exercise price equal to the per-share closing price of the Company’s common stock on December 5, 2022, and a term of ten years. Such awards shall
have the terms and conditions specified by the Company, and shall vest, assuming continued employment, to the extent of 33.33% of the award on December 5, 2023, 33.33% of the award on December 5, 2024, and the remaining 33.34% of the award
on December 5, 2025. 
 5. Other Benefits. During the Employment Term: 

a. Fringe Benefits. Subject to the terms of any applicable benefit plan or policy, Executive shall be eligible to
receive such fringe benefits as are, and may be, made available to other officers of the Company from time to time in the exclusive discretion of the Company. The Company reserves the right to modify or discontinue any benefit already provided or as
may be provided in the future, with or without notice. 
 b. Paid Personal Time Off. Executive shall be
entitled to paid time off in accordance with the Company’s paid time off policies for officers as such policies may exist from time to time; provided that Executive shall in any event be entitled to a minimum of four (4) weeks of paid time
off. 
 c. Business Expenses. The Company shall reimburse Executive for all reasonable and deductible out-of-pocket expenses which are incurred and submitted by Executive in a timely manner in connection with the performance by Executive of duties hereunder, provided that
Executive may be required to submit proper documentation in accordance with the Company’s policies and procedures in effect from time to time. The amount of reimbursable expenses incurred in one taxable year shall not affect the expenses
eligible for reimbursement in any other taxable year. Reimbursement shall be paid as soon as administratively practicable, but in no event shall any such reimbursement be paid after the last day of the calendar year following the calendar year in
which the expense was incurred. The right hereunder to reimbursement is not subject to liquidation or exchange for other benefits. 

  
 3 

 6. Clawback of Incentive Compensation. The Company may terminate
Executive’s right to the unpaid or unvested incentive compensation under Sections 3(b), 3(c) and 4, and may require reimbursement to the Company by Executive of any incentive compensation previously paid or vested within the prior 12-month period pursuant to any applicable incentive compensation plan or award agreement, in the event: (i) of a willful or reckless breach by Executive of his obligations under Sections 7(d)
through 7(h) of this Agreement; (ii) of Executive’s misconduct constituting Cause as defined in Section 8(c) of this Agreement; or (iii) Executive is obligated to disgorge to or reimburse the Company for such compensation paid or
payable to Executive by reason of application of Section 304 of the Sarbanes-Oxley Act of 2002, Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or any other applicable law or regulation requiring recapture,
reimbursement or disgorgement of incentive-based pay. In the event Executive fails to make prompt reimbursement of any such incentive compensation previously paid, the Company may, to the extent permitted by applicable law, deduct the amount
required to be reimbursed from Executive’s compensation otherwise due under this Agreement. 
 7. Executive Agreements.
In exchange for Executive’s employment with the Company, including the compensation set forth in this Agreement, Executive agrees as follows: 

a. Termination from Employment. Except as otherwise provided in this Agreement or under applicable law, all
benefits and privileges of employment end as of the close of business on the last day of the Employment Term, subject to Executive’s earlier voluntary or involuntary termination. 

b. Non-Encouragement Provision. Executive agrees that during his
employment with the Company and thereafter he will not instigate, cause, advise or encourage any other persons, groups of persons, corporations, partnerships or any other entity to file litigation against the Company. 

c. Cooperation in Transitional Matters. After Executive’s employment ends, Executive agrees to make himself
reasonably available to the Company thereafter without additional compensation to answer questions, provide information and otherwise reasonably cooperate with the Company in any pending or transitional matters on which Executive has worked or about
which Executive may have personal knowledge. Executive agrees to reasonably cooperate with the Company, including its attorneys, managers and accountants, in connection with any transitional matters, potential or actual litigation, or other real or
potential disputes, which directly or indirectly involve the Company. 

  
 4 

 d. Non-competition and
Notification. During Executive’s employment with the Company and for a period of thirty-six (36) months following the voluntary or involuntary termination of his employment for whatever reason
(the “Restricted Period”), Executive agrees not to directly or indirectly engage in, be interested in, or be employed by, anywhere in the United States, Canada, the United Kingdom or any additional geographic markets the Company
enters, any direct competitor of the Company (including, without limitation, Henry Schein, Inc., Benco Dental Supply Company, Burkhart Dental Supply Co., Amazon.com, Inc., MWI Veterinary Supply, Inc., Covetrus, Inc., and AmerisourceBergen Corp.) or
any other business which offers, markets or sells any service or product that competes directly or indirectly with any services or products of the Company (a “Competing Business”). By way of example, but not by way of limitation,
“any service or product that competes directly or indirectly with any services or products of the Company” includes dental services, dental products, animal health services and animal health products. For purposes of this provision,
Executive shall be deemed to be interested in a Competing Business if he is engaged or interested in such Competing Business as a stockholder, director, officer, employee, salesperson, sales representative, agent, partner, individual proprietor,
consultant, or otherwise, but not if such interest in the Competing Business is limited solely to the ownership of 2% or less of the equity or debt securities of any class of a corporation whose shares are listed for trading on a national securities
exchange or traded in the over-the-counter market. 

In the event that Executive obtains new employment prior to expiration of the Restricted Period, Executive shall:
(i) disclose this Agreement to his new employer prior to beginning the employment; and (ii) notify the Company of the identity of his new employer within seven (7) days after accepting any offer of employment by sending a written
notification to the Company. 
 Executive agrees that the foregoing restrictions are in consideration of the consideration
offered in this Agreement, and that the restrictions are reasonable and necessary for the purpose of protecting the Company’s legitimate business interests. Executive agrees that the scope of the business of the Company is independent of the
location (such that it is not practical to limit the restrictions contained herein to a specific state, city or part thereof) and therefore acknowledges and agrees that the geographic scope of this restriction throughout the United States, Canada
and the United Kingdom is reasonable and necessary. 
 Executive further agrees that the remedy of damages at law for breach
by Executive of any of the covenants and obligations contained in this Agreement is an inadequate remedy. In recognition of the irreparable harm that a violation by Executive of the covenants and obligations in this Agreement would cause the
Company, or any company with which the Company has a business relationship, Executive agrees that if he breaches or proposes to breach, any provision of this Agreement, the Company shall be entitled, in addition to all other remedies that it may
have, to an injunction or other appropriate equitable relief to restrain any such breach or proposed breach without showing or proving any actual damage to the Company, it being understood by Executive and the Company that both damages and equitable
relief shall be proper modes of relief and are not to be considered alternative remedies. 
 e. No-Solicitation of Customers, Suppliers, or Distributors. Executive agrees that during his employment with the Company and during the Restricted Period, Executive shall not directly or indirectly, whether
individually or as an owner, agent, representative, consultant or employee, participate or assist any individual or business entity to solicit or encourage any customer, supplier, or distributor of the Company to (i) do business that could be done
with the Company with any person or entity other than the Company or (ii) terminate or otherwise modify adversely its business relationship with the Company. 

  
 5 

 f. No Solicitation of Employees. Executive agrees that during
his employment with the Company and during the Restricted Period, Executive shall not directly or indirectly, whether individually or as an owner, agent, representative, consultant or employee, participate or assist any individual or business entity
to solicit, employ or conspire with others to employ any of the Company’s employees. The term “employ” for purposes of this Section 7(f) means to enter into an arrangement for services as a full-time or part-time employee,
independent contractor, agent or otherwise. Notwithstanding the foregoing, any general advertisement or public solicitation that is not directed specifically to employees of the Company shall not constitute a breach of this Section 7(f). 

g. Non-Disparagement Provision. Executive agrees that during his
employment with the Company and thereafter, Executive will not make any disparaging or damaging statements about the Company, its products, services or management, whether or not libelous or defamatory, provided that this provision shall not affect
Executive’s right to provide truthful information to any governmental agency. Similarly, the Board shall not at any time, whether during or after the termination of Executive’s employment with the Company, make any disparaging or damaging
statements concerning Executive, whether or not libelous or defamatory, provided that this provision shall not affect the Company’s right to provide truthful information to any governmental agency. 

h. Confidential Information. Executive acknowledges that in the course of his employment with the Company, he
will have access to Confidential Information. “Confidential Information” includes but is not limited to information not generally known to the public, in spoken, printed, electronic or any other form or medium relating directly or
indirectly to: business processes, practices, policies, plans, documents, operations, services and strategies; contracts, transactions, and potential transactions; negotiations and pending negotiations; customer and prospect information including,
without limitation, customer and prospect lists, purchase and order histories, and equipment pipelines; proprietary information, trade secrets and intellectual property; supplier and vendor agreements, strategies, plans and information; financial
information and results; legal strategies and information; marketing plans and strategies; pricing plans and strategies; personnel information and staffing and succession planning practices and strategies; internal controls and security policies,
strategies and procedures; and/or other confidential business information that Executive will learn, receive or use at any time during his employment with the Company, whether or not such information has been previously identified as confidential or
proprietary. 
 Confidential Information may be contained in written materials, such as documents, files, reports, manuals,
drawings, diagrams, blueprints and correspondence, as well as computer hardware and software, and electronic or other form or media. It may also consist of unwritten knowledge, including ideas, research, processes, plans, practices and know-how. 

  
 6 

 Confidential Information does not include information that:
(i) is in or becomes part of the public domain or information generally known in the trade, other than as a result of a disclosure by or through Executive in violation of this Agreement or by a third-party in breach of a confidentiality
obligation; (ii) information that Executive acquires or independently develops completely independently of his employment with the Company; (iii) is lawfully disclosed to Executive by a third party provided the third party did not receive
it due to a breach of this Agreement or any other obligation of confidentiality; (iv) was lawfully in Executive’s possession prior to providing services for the Company, provided that said information was not obtained from the Company; or
(v) is required to be disclosed by law or the order of any court or governmental agency, or in any litigation or similar proceeding; provided that prior to making any such required disclosure, Executive shall notify the Company in sufficient
time to permit the Company to seek an appropriate protective order. 
 Executive agrees that he shall not, at any time during
his employment with the Company or thereafter, disclose or otherwise make available Confidential Information to any person, company or other party. Further, Executive shall not use or disclose any Confidential Information at any time without the
Company’s prior written consent. This Agreement shall not limit any obligations Executive may have under any other employee confidentiality agreement with the Company or under applicable law nor shall it limit his right to provide truthful
information to any governmental agency, including, for example, the U.S. Securities and Exchange Commission (“SEC”), as part of a complaint or investigatory proceeding conducted by the SEC. 

i. Defend Trade Secrets Act of 2016. Executive understands that if he breaches the provisions of
Section 7(h) above, Executive may be liable to the Company under the federal Defend Trade Secrets Act of 2016 (“DTSA”). Executive further understands that by providing him with the following notice, the Company may recover from
Executive its attorney fees and exemplary damages if it brings a successful claim against Executive under the DTSA: Under the DTSA, Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the
disclosure of a trade secret that is made: (a)(i) in confidence to a federal, state, or local governmental official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a suspected
violation of law or (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Without limiting the foregoing, if Executive files a lawsuit for retaliation by the Company for reporting a
suspected violation of law, Executive may disclose the trade secret to his attorney and use the trade secret information in the court proceeding, if Executive (i) files any document containing the trade secret under seal and (ii) does not
disclose the trade secret, except pursuant to court order. 

  
 7 

 j. Return of Documents, Materials, and Property. Executive
agrees that at the end of his employment with the Company, or at the Company’s earlier request, he will return all originals and copies of any documents, materials or other property of the Company and the Company’s customers, whether
generated by Executive or any other person on his behalf or on behalf of the Company or its customers. This includes all copies and all materials on paper, on disk, on a computer, or in any computerized or electronic medium. All documents, files,
records, reports, policies, training materials, communications materials, lists and information, e-mail messages, products, keys and access cards, cellular phones, computers, other materials, equipment,
physical and electronic property, whether or not pertaining to Confidential Information, which were furnished to Executive by the Company, purchased or leased at the expense of the Company, or produced by the Company or Executive in connection with
Executive’s employment will be and remain the sole property of the Company, except as otherwise provided herein. All copies of Company property, whether in tangible or intangible form, are also the property of the Company. Executive agrees that
he will not retain any paper or electronic copies of these documents and materials. 
 Executive agrees that, following the
termination of his employment with the Company, the Company may open all mail (including but not limited to regular mail, electronic mail and voicemail) delivered to the Company and addressed to him. Notwithstanding the foregoing, the Company shall
not open any mail (including but not limited to regular mail, electronic mail and voicemail) delivered to the Company and addressed to Executive if it is readily apparent that such mail is a personal item, in which case the Company will promptly
forward such mail to Executive without opening it; provided, however, that this provision does not create any reasonable expectation of privacy on behalf of Executive in his use of the Company’s communications and technology systems. 

k. Class Action Waiver and Arbitration Agreement. Any dispute, controversy or claim arising out of, relating to
or in connection with this Agreement, including the breach, termination or validity thereof, shall be finally resolved by arbitration, other than claims of sexual assault or sexual harassment according to the federal End Forced Arbitration of Sexual
Assault and Sexual Harassment Claims Act. The tribunal shall have the power to rule on any challenge to its own jurisdiction or to the validity or enforceability of any portion of the agreement to arbitrate. 

The Parties agree to arbitrate solely on an individual basis, and that this agreement to arbitrate does not permit class
arbitration or any claims brought as a plaintiff or class member in any class or representative arbitration proceeding. The arbitral tribunal may not consolidate more than one person’s claims, and may not otherwise preside over any form of a
representative or class proceeding. In the event the prohibition on class arbitration is deemed invalid or unenforceable, then the remaining portions of the arbitration agreement will remain in force. 

l. Reasonable and Necessary. Executive acknowledges that he is a key employee of the Company and that Executive
participates in and contributes to key phases of the Company’s operations. Executive agrees that the covenants provided for in this Section 7 are reasonable and necessary to protect the Company and its confidential information, goodwill
and other legitimate business interests and, without such protection, the Company’s customer and client relationships and competitive advantage would be materially adversely affected. Executive agrees that the provisions of this Section 7
are an essential inducement to the Company to enter into this Agreement and they are in addition to, rather than in lieu of, any similar or related covenants with the Company to which 

  
 8 

 
Executive may be bound. Executive further acknowledges that the restrictions contained in this Section 7 shall not impose an undue hardship on him since he has general business skills which
may be used in industries other than that in which the Company conducts its business and shall not deprive Executive of his livelihood. In exchange for Executive agreeing to be bound by these reasonable and necessary covenants, the Company is
providing Executive with the benefits as set forth in this Agreement, including without limitation the compensation set forth herein. Executive acknowledges and agrees that these benefits constitute full and adequate consideration for his
obligations hereunder. 
 m. Company Defined. For purposes of this Section 7, “Company”
shall mean Patterson Companies, Inc., its affiliated and related entities, and any of their respective direct or indirect subsidiaries. 

n. Survival. Notwithstanding any termination of this Agreement or Executive’s employment with the Company,
Executive shall remain bound by the provisions of this Agreement which specifically relate to periods, activities or obligations upon or subsequent to the termination of his employment, irrespective of whether Executive is eligible for severance
benefits under Sections 9 or 10 of this Agreement. 
 8. Termination of Agreement. Executive’s employment with the
Company under this Agreement may be terminated prior to expiration of the Employment Term as follows: 
 a. By
Death. Executive’s employment hereunder shall terminate automatically upon the date of Executive’s death. The Company shall pay to Executive’s beneficiaries or estate, as appropriate, the Base Salary earned through the date of
death without further obligation to Executive, except as set forth in Section 8(g). 
 b. By Disability.
If, in the exclusive opinion of the Company, Executive has been unable to properly perform Executive’s essential job functions hereunder, after such reasonable accommodations as required by law, by reason of any physical or mental incapacity
that qualifies Executive for a benefit under the long-term disability plan sponsored by the Company, then Executive’s employment hereunder shall terminate as consistent with applicable law on the last day of the month in which the Company
determines that Executive is disabled. The Company shall pay to Executive the Base Salary earned through the date of termination without further obligation to Executive, except as set forth in Section 8(g). 

c. By Company for Cause. The Company may terminate Executive’s employment hereunder for Cause (as defined
below) at any time by giving written notice to Executive. “Cause” shall mean: (i) Executive’s willful or repeated failure or refusal to perform his reasonably assigned and lawful duties (other than any such failure
resulting from incapacity due to physical or mental illness or Disability), or serious neglect or willful misconduct in the performance of his reasonably assigned and lawful duties; (ii) Executive’s willful failure to comply with any
reasonably assigned and legal directive of the Board; (iii) Executive’s disclosure or misuse of Confidential Information; (iv) Executive’s engagement in illegal conduct, embezzlement, misappropriation, fraud, dishonesty or breach
of fiduciary duty, resulting in loss, damage or injury to the Company; 

  
 9 

 
(v) Executive’s conduct related to his employment for which either criminal or civil penalties against Executive or the Company may be sought; (vi) Executive’s conviction of, or
plea of guilty or nolo contendere to, any crime (whether or not involving the Company) that constitutes a felony in the jurisdiction involved; or (vii) Executive’s material violation of any Company policy or material breach of the terms of
this Agreement or any other agreement between Executive and the Company. The Company shall pay Executive the Base Salary to which he is entitled through the end of the day of such termination without further obligation to Executive. For the
avoidance of doubt, mere failure of the Company to achieve any performance goals shall not constitute “Cause.” 

d. By Company Without Cause. The Company may terminate Executive’s employment hereunder at any time without
Cause. Executive agrees that the Company may dismiss Executive under this Section 8(d) without regard to (a) any general or specific policies (whether written or oral) of the Company relating to the employment or termination of its
employees, or (b) any statements made to Executive, whether made orally or in writing, that pertain to Executive’s relationship with the Company. In the event of such termination, the Company shall pay to Executive the Base Salary to which
he is entitled through the date of such termination without further obligation to Executive, except as expressly set forth in Section 9 or Section 10, as applicable. 

e. By Resignation. Executive may terminate employment with the Company at any time upon thirty (30) calendar
days’ prior written notice to the Company. The Company reserves the right to waive this notice period or any portion thereof and accelerate Executive’s separation date accordingly; provided that the Company shall pay to Executive his Base
Salary through the full notice period. 
 f. By Mutual Consent. Executive and the Company may terminate this
Agreement by written mutual consent pursuant to the terms as agreed upon between the Parties. 
 g. Benefits and
Incentive Compensation Upon Termination. Upon Executive’s termination of employment for any reason, Executive’s rights and interests under the Company’s benefit or incentive compensation plans applicable to him shall be determined
under the provisions of those respective plans. 
 h. Separation from Service. References to termination of
employment or similar terms hereunder shall mean a “separation of service” with the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

9. Severance Benefits. In the event that Executive’s employment with the Company is terminated without Cause prior to
expiration of the Employment Term as set forth in Section 8(d), Executive shall, in lieu of any other cash severance benefits under any other Company agreement, plan, policy or program, be entitled to severance benefits as follows: 

a. Severance Payment. Executive shall receive a lump sum cash payment in an amount equal to the sum of
(i) two (2) times Executive’s then-current Base Salary and (ii) the average of Executive’s annual cash incentive compensation paid to him under the 

  
 10 

 
MICP (or any other similar annual non-equity compensation plan of the Company) for each of the last three full fiscal years (or such lesser number of years
for which Executive was employed by the Company) prior to the year in which Executive’s employment is terminated. In the event that Executive was not employed by the Company for the whole of any such fiscal year, but received pro-rated cash incentive compensation for such fiscal year, such amount shall be annualized for computation purposes. 

b. Prorated Non-Equity Incentive Compensation. Executive shall receive a
lump sum cash payment in an amount equal to his prorated annual cash incentive compensation under the MICP (or any other similar annual non-equity incentive compensation plan of the Company) for the fiscal
year in which termination occurs based on actual performance through the date of termination. 
 c. Continued
Eligibility for Benefits Programs. Medical/Dental/ Vision/Life insurance coverage will terminate following the last day of Executive’s employment. However, Executive may elect to continue coverage for himself and his eligible dependents by
electing continuation coverage under the federal law, the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), or applicable state law. If Executive timely elects COBRA continuation, the Company will pay for his COBRA premiums
until the earlier of: (i) 18 months following the termination of Executive’s employment, pursuant to the terms of the applicable plan, (ii) the date Executive is eligible for such coverage from another employer, or (iii) such time as
the reimbursement would result in the Company being subject to an excise tax for a discriminatory health insurance benefit based on the Company’s reasonable interpretation of applicable law. 

d. Release Agreement. Executive shall not receive the severance benefits set forth in Sections 9(a)-(c) unless he
has first signed and returned to the Company, and not rescinded pursuant to the terms thereof, a separation agreement containing a release of claims in a reasonably customary form that is provided by and reasonably acceptable to the Company (the
“Release”). The severance payments in Sections 9(a) and 8(b) will be paid in a lump sum on the sixtieth (60th) day following Executive’s termination, provided that all statutory rescission periods contained in the Release have
expired without revocation, and subject to provisions of Section 11(l) herein. Where the period available to execute (and to not revoke) the release spans more than one calendar year, the payment shall not be made until the second calendar year
as required by the applicable terms of this Agreement and Section 409A of the Code. 
 e. Forfeiture.
Notwithstanding the foregoing, if Executive breaches any part of Sections 7(d), 7(e), 7(f), 7(g) or 7(h) hereof or the terms of Executive’s Release following Executive’s termination under Section 8(d), the termination automatically
shall be deemed one by the Company for Cause under Section 8(c) and any severance payment already made to Executive shall be determined unearned and must be promptly repaid to the Company. 

f. Unvested Interests. All unvested equity interests held by Executive as of the date of his termination shall
terminate and be forfeited, unless those unvested grants shall be deemed to have vested in their entirety as of Executive’s termination pursuant to the terms of the applicable grant agreement and the Omnibus Plan, or any successor plan thereto,
if applicable. 

  
 11 

 10. Change In Control. In the event that prior to expiration of the Employment
Term either (x) Executive’s employment with the Company is terminated without Cause as set forth in Section 8(d) or (y) Executive resigns his employment for Good Reason, in either case within two (2) years immediately
following a Change in Control, Executive shall, in lieu of the payment of severance benefits under Section 9 of this Agreement or any other cash severance benefits under any other Company agreement, plan, policy or program, be entitled to
severance benefits as follows: 
 a. Severance Payment. Executive shall receive a lump sum cash payment in an
amount equal to the sum of (i) three (3) times Executive’s then-current Base Salary and (ii) Executive’s target annual cash incentive compensation under the MICP (or any other similar annual
non-equity compensation plan of the Company) for the fiscal year in which Executive’s employment is terminated. 

b. Prorated Non-Equity Incentive Compensation. Executive shall receive a
lump sum cash payment in an amount equal to his prorated annual cash incentive compensation under the MICP (or any other similar annual non-equity incentive compensation plan of the Company) for the fiscal
year in which termination occurs based on Executive’s target award through the date of termination. 
 c.
Continued Eligibility for Benefits Programs. Medical/Dental/ Vision/Life insurance coverage will terminate following the last day of Executive’s employment. However, Executive may elect to continue coverage for himself and his eligible
dependents by electing continuation coverage under the federal law, COBRA, or applicable state law. If Executive timely elects COBRA continuation, the Company will pay for his COBRA premiums until the earlier of: (i) 18 months following the
termination of Executive’s employment, pursuant to the terms of the applicable plan, (ii) the date Executive is eligible for such coverage from another employer, or (iii) such time as the reimbursement would result in the Company
being subject to an excise tax for a discriminatory health insurance benefit based on the Company’s reasonable interpretation of applicable law. 

d. Release Agreement. Executive shall not receive the severance benefits set forth in Sections 10(a)-(c) unless
he has first signed and returned to the Company, and not rescinded pursuant to the terms thereof, the Release. The severance payments in Sections 10(a) and 10(b) will be paid in a lump sum on the sixtieth (60th) day following Executive’s
termination, provided that all statutory rescission periods contained in the Release have expired without revocation, and subject to provisions of Section 11(l) herein. Where the period available to execute (and to not revoke) the release spans
more than one calendar year, the payment shall not be made until the second calendar year as required by the applicable terms of this Agreement and Section 409A of the Code. 

  
 12 

 e. Change in Control. For purposes of this Agreement,
“Change in Control” shall mean (a) if any “person” or “group” as those terms are used in Sections 13(d) and 14(d) of the Exchange Act or any successors thereto, is or becomes the “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act or any successor thereto), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then
outstanding securities, provided, that the acquisition of additional securities by any person or group that owns 50% or more of the voting power prior to such acquisition of additional securities shall not be a Change in Control, (b) during any
12-month period, individuals who at the beginning of such period constitute the Board and any new directors whose election by the Board or nomination for election by the Company’s shareholders was
approved by at least a majority of the directors then still in office who either were directors at the beginning of the period or whose election was previously so approved, cease for any reason to constitute a majority thereof, (c) the
shareholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation (i) which would result in all or a portion of the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation or (ii) by which the corporate existence of the Company is not affected and following which the Company’s chief executive officer and directors retain their
positions with the Company (and constitute at least a majority of the Board) and such merger or consolidation is consummated, or (d) the shareholders of the Company approve an agreement for the sale or disposition by the Company of all or
substantially all the Company’s assets and such sale or disposition is consummated. 
 f. Good Reason. For
purposes of this Agreement, “Good Reason” shall mean any refusal to accept: 
 (i) a material diminution in
Executive’s base compensation, which for purposes of this Agreement will mean a reduction of 10% or more in Executive’s Base Salary plus MICP target; 

(ii) discontinuation of eligibility to participate in a material long-term cash or equity award or equity-based grant program
(or in a comparable substitute program) in which other officers of the Company are generally eligible to participate; 

(iii) any material diminution of authority, duties or responsibilities, including any change in the authority, duties or
responsibilities of Executive that is inconsistent in any material and adverse respect with Executive’s then-current position(s), authority, duties and responsibilities with the Company or any subsidiary; provided, however, that “Good
Reason” will not be deemed to exist pursuant to this clause (iii) solely on account of the Company no longer being a publicly traded entity or solely on account of a change in the reporting relationship of Executive; or 

  
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 (iv) a material adverse change in the geographic location at which the
Company requires Executive to be based as compared to the location where Executive was based immediately prior to the change, which for purposes of this Agreement will mean: (x) a relocation that results in an increase in the commuting distance
from Executive’s principal residence to his new job location of more than 50 miles, or (y) a relocation that requires Executive to relocate his principal residence. 

Notwithstanding the foregoing, however, “Good Reason” will not be deemed to exist as a result of any of the actions
stated in clauses (i) or (ii) above to the extent that such actions are in connection with an across-the-board change or termination that equally affects at least
ninety percent (90%) of all officers of the Company, and an act or omission will not constitute a “Good Reason” unless Executive gives written notice to the Company of the existence of such act or omission within ninety (90) days of
its initial existence, the Company fails to cure the act or omission within thirty (30) days after the notification, and actual termination of employment occurs within two (2) years of the initial existence of the act or omission. 

g. Forfeiture. Notwithstanding the foregoing, if Executive breaches any part of Sections 7(d), 7(e), 7(f), 7(g)
or 7(h) hereof or the terms of Executive’s Release following Executive’s termination under Section 8(d), the termination automatically shall be deemed one by the Company for Cause under Section 8(c) and any severance payment
already made to Executive shall be determined unearned and must be promptly repaid to the Company. 
 h.
Accelerated Vesting. All unvested equity interests held by Executive as of the date of his termination shall be governed by the terms of the applicable grant agreement and the Omnibus Plan, or any successor plan thereto, if applicable. 

i. Section 280G. Notwithstanding anything to the contrary herein contained, under no circumstances shall the
payments made to Executive result in an “excess parachute payment” as defined under Section 280G of the Code. To the extent that such payments could result in an “excess parachute payment,” the payments shall be reduced to
avoid such result, the manner of which reduction shall be in the discretion of the Board. Any amounts reduced pursuant to this Section 10(i) shall be deemed forfeited by Executive, and Executive shall have no authority whatsoever to determine
the order in which benefits under this Agreement shall be so reduced. 
 11. General Provisions. This Agreement is subject to
the following general provisions: 
 a. Consideration. Executive acknowledges that the consideration offered in
this Agreement is good and valuable consideration in exchange for the terms of this Agreement. 

  
 14 

 b. Effect of Breach. Executive agrees that it would be
impossible to measure in money the damages caused by the irreparable harm the Company would suffer for any breach by him of the terms of this Agreement. Accordingly, Executive agrees that if the Company institutes any action or proceeding to enforce
the terms of this Agreement, the Company shall be entitled to temporary and permanent injunctive or other equitable relief to enforce the provisions of this Agreement, such relief may be granted without the necessity of proving actual damages,
Executive hereby waives to the extent permitted by law the claim or defense that the Company has an adequate remedy at law, and Executive shall not argue in any such action or proceeding that any such remedy at law exists. This provision with
respect to equitable relief shall not, however, diminish the right of the Company to claim and recover damages in addition to injunctive relief. 

c. Notice. Any notice required or permitted to be given under this Agreement shall be deemed to have been
delivered on the date following the day the notice is deposited in the United States mail, certified or registered, postage prepaid, return receipt requested, and addressed as follows: 

If to Executive: 
 Donald J.
Zurbay 
 10457 Scott Avenue North 

Brooklyn Park, MN 55443 
 or
such other address as Executive elects by giving to the Company not less than 30 days advance written notice. 
 If to the Company: 

John D. Buck 
 Chairman of the
Board 
 Patterson Companies, Inc. 

1031 Mendota Heights Road 
 St.
Paul, MN 55120 
 or such other address as the Company elects by giving to Executive not less than 30 days advance written notice, with a
copy, which shall not constitute notice, to: 
 Brett D. Anderson, Esq. 

Taft Stettinius & Hollister, LLP 

80 South Eighth Street, Suite 2200 

Minneapolis, MN 55402 

d. Conflicting Agreements. Executive hereby represents that Executive is not subject to any non-competition agreement, non-disclosure agreement, or any other kind of agreement or duty that would prohibit or restrict Executive from vigorously and fully performing
services for the Company. 
 e. Waiver. The waiver by either Party of the breach or nonperformance of any
provision of this Agreement by the other Party will not operate or be construed as a waiver of any future breach or nonperformance under any such provision of this Agreement or, in the case of the Company, any similar agreement with any other
employee. 

  
 15 

 f. Severability and Blue Penciling. To the extent that any
provision of this Agreement shall be determined to be invalid or unenforceable as written, the validity and enforceability of the remainder of such provision and of this Agreement shall be unaffected. If any particular provision of this Agreement
shall be adjudicated to be invalid or unenforceable, the Company and Executive specifically authorize the tribunal making such determination to edit the invalid or unenforceable provision to allow this Agreement, and the provisions thereof, to be
valid and enforceable to the fullest extent allowed by law or public policy. Executive expressly stipulates that this Agreement shall be construed in a manner which renders its provisions valid and enforceable to the maximum extent (not exceeding
its express terms) possible under applicable law. 
 g. Enforceable Contract. The Parties agree that this
Agreement shall be deemed to have been entered into and shall be construed and enforced in accordance with the laws of the State of Minnesota, without regard to conflicts of law provisions. If any part of this Agreement is construed to be in
violation of the law, such part will be modified to achieve the objective of the parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect. 

h. Exclusivity of and Consent to Jurisdiction. Subject to the arbitration provisions of Section 7(k) of this
Agreement, Executive and the Company agree that the courts of Minnesota shall have exclusive judicial jurisdiction over disputes concerning this Agreement. The Parties specifically consent to the jurisdiction of the state and federal courts of
Minnesota. Accordingly, Executive and the Company submit to the personal jurisdiction of such courts for purposes of this Agreement. 

i. Counterparts. The Parties agree that this Agreement may be executed in counterparts and each executed
counterpart shall be as effective as a signed original. Photographic or faxed copies of such signed counterparts may be used in lieu of the originals for any purpose. 

j. Successors and Assigns. Executive may not assign this Agreement to any third party for whatever purpose and
any such purported assignment shall be void. The Company may assign this Agreement to any successor or assign. 
 k.
Entire Agreement. Except for the related agreements described herein, this Agreement contains the entire agreement between the Parties relating to Executive’s retention by the Company and supersedes all prior agreements and
understandings, whether written or oral, between the Parties relating to such employment. This Agreement may not be amended or changed except in writing executed by both Parties. 

  
 16 

 l. Section 409A. Notwithstanding any other provision of this
Agreement to the contrary, Executive and the Company agree that the payments hereunder shall be exempt from, or satisfy the applicable requirements, if any, of Section 409A of the Code in a manner that will preclude the imposition of penalties
described in Section 409A of the Code. Payments made pursuant to this Agreement are intended to satisfy the short-term deferral rule or separation pay exception within the meaning of Section 409A of Code. Executive’s termination of
employment shall mean a “separation from service” within the meaning of Section 409A of the Code. Notwithstanding anything herein to the contrary, this Agreement shall, to the maximum extent possible, be administered, interpreted and
construed in a manner consistent with Section 409A of Code; provided, that in no event shall the Company have any obligation to indemnify Executive from the effect of any taxes under Section 409A of the Code. 

If any payment or benefit provided to Executive in connection with his termination of employment is determined to constitute
“nonqualified deferred compensation” within the meaning of Section 409A of the Code and Executive is determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i) of the Code, then such payment or
benefit shall not be paid until the first payroll date to occur following the six-month anniversary of the termination or, if earlier, on Executive’s death (the “Specified Employee Payment
Date”). The aggregate of any payments that would otherwise have been paid before the Specified Employee Payment Date shall be paid to Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments
shall be paid without delay in accordance with their original schedule. 
 m. Withholding. The Company shall
withhold from the compensation payable to Executive hereunder all appropriate deductions necessary for the Company to satisfy its withholding obligations under federal, state and local income and employment tax laws. 

n. Acknowledgement. Executive affirms that he has read this Agreement and that the provisions of this Agreement
are understandable to him and Executive has entered into this Agreement freely and voluntarily. 
 [signature page follows] 

  
 17 

 IN WITNESS WHEREOF, the Parties have executed this Agreement by their signatures below. 

 

							
	Dated:	 	October 12, 2022	 	 /s/ Donald J. Zurbay

		 		 	Donald J. Zurbay
			
		 		 	PATTERSON COMPANIES, INC.
				
	Dated:	 	October 12, 2022	 	By:	 	 /s/ John D. Buck

		 		 		 	John D. Buck
		 		 		 	Chairman of the Board

 [Signature Page to Employment Agreement by and between Patterson Companies, Inc. 

and Donald J. Zurbay, dated October 12, 2022]

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