Document:

EX-10.13

 Exhibit 10.13 

THESEUS PHARMACEUTICALS, INC. 

May 25, 2021 
 Kathy Yi 

Dear Kathy, 
 As we discussed, the Board of Directors (the
“Board”) of Theseus Pharmaceuticals, Inc. (the “Company”) has agreed to elect you as a member of the Board and to appoint you as the chairperson of the Audit Committee of the Board as well as other committees as may be determined
in the future. We appreciate your willingness to accept the Board and committee positions, and we look forward to your valuable contributions. 
 Subject to
the approval of the Board, you will be granted an option to purchase a number of shares of the Company’s Common Stock (the “Option”) equal to 0.3% of the fully-diluted capitalization of the Company when the Option is granted. The
exercise price per share of the Option will be determined by the Board when the Option is granted. The Option will be subject to the terms and conditions applicable to options granted under the Company’s 2018 Stock Plan, as described in that
plan and the applicable Stock Option Agreement. The Option will vest in equal monthly installments over your first 36 months of continuous service, as described in the applicable Stock Option Agreement and will include 100% acceleration upon a
change of control of the Company.     
 For your service as a Board member and chairperson the Audit Committee of the Board, the
Company will also pay you an annual cash retainer of $50,000 for Board and Committee service, payable quarterly. In addition, we will reimburse you for reasonable expenses that you incur in connection with attendance at meetings of the Board, or
committees of the Board, in accordance with the Company’s generally applicable reimbursement policies. 
 We plan to have at least one scheduled Board
meeting during each fiscal quarter. As a Board member, you are responsible for attending these scheduled meetings in person or by video conference or telephone. 

In connection with your services to the Company, we expect that technical, business or financial information of the Company (“Confidential
Information”) will be disclosed to you. To the extent that Confidential Information is not publicly known or not otherwise previously known by you without an obligation of confidentiality, you agree not to use (except in connection with your
services to the Company) or disclose Confidential Information to any third party and to take reasonable steps to maintain the confidential nature of all Confidential Information. 

As a precautionary matter and to avoid any conflicts of interest, we ask you to refrain, while you are a member of the Board, from providing advice or
otherwise providing services to any 

 Kathy Yi 
 May
25, 2021 
  Page
 2
 
  

 
competitor of the Company. For purposes of clarity, it is noted that Cerevel Therapeutics, LLC is not deemed to be a competitor of the Company. We ask that you inform the Board of any change you
may perceive in the status of Cerevel Therapeutics, LLC as a non-competitor, as well as any potential or actual, direct or indirect, conflict of interest that you think exists or may arise because of your
relationship with the Company, so that we may come to a quick and mutually agreeable resolution. By signing this letter agreement, you also represent and warrant that you have no contractual commitments or other legal obligations to a third party
that would prohibit you from performing your duties for the Company. 
 As part of our overall responsibilities, the Company and the Company’s
stockholders reserve the right to remove any individual from the Board at any time in accordance with the provisions of applicable law. We ask that you give us at least thirty (30) days’ written notice if you intend to resign from the
Board. You, of course, may also terminate your relationship with Company at any time. When you cease to be a member of the Board, you must return all Confidential Information to the Company. 

We look forward to working with you as a member of the Company’s Board. You may indicate your agreement with these terms and accept this offer by signing
and dating the enclosed duplicate original of this letter agreement and returning it to me. 
 If you have any questions please do not hesitate to reach out
to me. 
  

	
	 Very truly yours,

	
	THESEUS PHARMACEUTICALS, INC.
	
	/s/ Tim Clackson
	 Tim Clackson, Ph.D.

	 President and CEO

  

	
	I have read and accept this offer:
	
	/s/ Kathy Yi
	Signature of Kathy Yi

 Dated: May 31, 2021EX-10.14

 Exhibit 10.14 

THESEUS PHARMACEUTICALS, INC. 

July 1, 2021 
 Iain Dukes, D.Phil. 

Dear Iain: 
 Theseus Pharmaceuticals, Inc. (the
“Company”) is pleased to confirm the updated terms of your position with the Company on the terms set forth below, which terms are deemed to be effective as of April 23, 2021. 

1. Position. Your title will be Executive Chairman of the Company, reporting to the Company’s Board of Directors (the
“Board”). While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of
interest with the Company. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. For the avoidance of
doubt, you will also continue to serve as a member of the Board. 
 2. Cash Compensation. The Company will pay you a salary at the
rate of $250,000 per year, payable in accordance with the Company’s normal payroll procedures, effective as of April 23, 2021. Your target bonus will be equal to 40% of your base salary, which bonus amount is subject to achievement of any
applicable bonus objectives and/or conditions determined by the Board or the Compensation Committee of the Board and your continued employment, and is payable to you during the year following the end of the applicable calendar year at the same time
as bonuses for other Company executives but in any event prior to March 15 of such following year. This salary and bonus will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time and
appropriate pro rata adjustments for any year or years of partial service. For purposes of clarity, there are no severance benefits provided at this time. 

3. Employee Benefits. We understand that you receive health benefits from a separate source and will not need to participate in any
Company-sponsored benefits. If this status changes, you may request participation in Company-sponsored benefits by providing notice to the Company. You will be entitled to paid vacation in accordance with the Company’s vacation policy, as in
effect from time to time. 
 4. Equity. Your existing restricted stock and stock option grants will continue to vest pursuant to the
terms of the applicable agreements. 

 Iain Dukes, D.Phil. 

July 1, 2021 
  Page
 2
 
  

 5. Proprietary Information and Inventions. You agree that, as a condition of your
employment with the Company, you shall continue to be subject to the Proprietary Information and Inventions terms set forth on Exhibit A hereto for the duration of your employment with the Company. 

6. Employment Relationship. Employment with the Company is for no specific period of time. Our current expectation is that the role of
Executive Chairman will be for the period of time prior to the Company’s initial public offering. That being said, your employment with the Company will be “at will,” meaning that either you or the Company may terminate your
employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term.
Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written
agreement signed by you and a duly authorized officer of the Company (other than you). 
 7. Tax Matters. 

(a) Withholding. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable
withholding and payroll taxes and other deductions required by law. 
 (b) Tax Advice. You are encouraged to obtain your own tax
advice regarding your compensation from the Company. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or its
Board of Directors related to tax liabilities arising from your compensation. 
 8. Interpretation, Amendment and Enforcement. This
letter agreement and Exhibit A supersede and replace any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and the Company and constitute the complete agreement between you and the
Company regarding the subject matter set forth herein. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of this letter agreement
and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with the Company or any other
relationship between you and the Company (the “Disputes”) will be governed by the laws of the Commonwealth of Massachusetts, excluding laws relating to conflicts or choice of law. 

* * * * * 
 You may indicate your
agreement with these terms and accept this offer by signing and dating the enclosed duplicate original of this letter agreement and returning it to me. 

If you have any questions, please call me. 

 Iain Dukes, D.Phil. 

July 1, 2021 
  Page
 3
 
  

 
	
	Very truly yours,
	
	Theseus Pharmaceuticals, INC.
	
	/s/ Tim Clackson
	Tim Clackson, President and CEO
	
	I have read and accept this employment offer:

  

	
	/s/ Iain Dukes
	Signature of Employee

 Dated: July 6, 2021 

 Iain Dukes, D.Phil. 

July 1, 2021 
  Page
 4
 
  

 Exhibit A

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