Document:

Exhibit
10.5

 

Progress
Acquisition Corp. 

50
Milk Street, 16th Floor

Boston,
MA 02109

 

September
30, 2020 

Progress
Capital I, LLC

50
Milk Street, 16th Floor

Boston,
MA 02109

  

RE:
Securities Subscription Agreement 

 

Ladies
and Gentlemen:

 

This
agreement (the “Agreement”) is entered into on September 13, 2020 by and between Progress Capital I, LLC, a
Delaware limited liability company (the “Subscriber” or “you”), and Progress Acquisition
Corp., a Delaware corporation (the “Company,” “we” or “us”). Pursuant
to the terms hereof, the Company hereby accepts the offer the Subscriber has made to purchase 3,593,750 shares of Class B common
stock, $0.0001 par value per share (the “Shares”), up to 468,750 of which are subject to forfeiture by you
if the underwriters of the initial public offering (“IPO”) of units (“Units”) of the Company,
do not fully exercise their over-allotment option (the “Over-allotment Option”). The Company and the Subscriber’s
agreements regarding such Shares are as follows:

 

1. Purchase
of Securities.

 

1.1.  Purchase
of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges receiving in cash,
the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from the Company, subject
to forfeiture, on the terms and subject to the conditions set forth in this Agreement.  Concurrently
with the Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate
registered in the Subscriber’s name representing the shares (the “Original Certificate”), or effect such
delivery in book-entry form.

 

2. Representations,
Warranties and Agreements.

 

2.1. Subscriber’s
Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber, the Subscriber hereby
represents and warrants to the Company and agrees with the Company as follows:

 

2.1.1.   No
Government Recommendation or Approval. The Subscriber understands that no federal or state agency has passed upon or made
any recommendation or endorsement of the offering of the Shares.

 

2.1.2.   No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing documents of the
Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any law, statute, rule or
regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which the Subscriber is subject.

 

2.1.3.   Organization
and Authority. The Subscriber is a Delaware limited liability company, validly existing and in good standing under the laws
of Delaware and possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.
Upon execution and delivery by you, this Agreement is a legal, valid and binding agreement of Subscriber, enforceable against
Subscriber in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent
conveyance or similar laws affecting the enforcement of creditors’ rights generally and subject to general principles of
equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

    1

     

    

 

2.1.4.   Experience,
Financial Capability and Suitability. Subscriber is: (i) sophisticated in financial matters and is able to evaluate the risks
and benefits of the investment in the Shares and (ii) able to bear the economic risk of its investment in the Shares for an indefinite
period of time because the Shares have not been registered under the Securities Act (as defined below) and therefore cannot be
sold unless subsequently registered under the Securities Act or an exemption from such registration is available. Subscriber is
capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests.
Subscriber must bear the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration
statement under the Securities Act or (ii) an exemption from registration available with respect to such sale. Subscriber is able
to bear the economic risks of an investment in the Shares and to afford a complete loss of Subscriber’s investment in the
Shares.

 

2.1.5.   Access
to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had the opportunity
to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as
the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify
the accuracy of all information so obtained. In determining whether to make this investment, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation
and the information furnished pursuant to this paragraph. Subscriber understands that no person has been authorized to give any
information or to make any representations which were not furnished pursuant to this Section 2 and Subscriber has not relied on
any other representations or information in making its investment decision, whether written or oral, relating to the Company,
its operations and/or its prospects.

 

2.1.6. Regulation
D Offering. Subscriber represents that it is an “accredited investor” as such term is defined in Rule 501(a) of
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”) and acknowledges the sale
contemplated hereby is being made in reliance on a private placement exemption to “accredited investors” within the
meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.

 

2.1.7.   Investment
Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and
not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The
Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the
meaning of Rule 502 under the Securities Act.

 

2.1.8. Restrictions
on Transfer; Shell Company. Subscriber understands the Shares are being offered in a transaction not involving a public offering
within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted securities” within
the meaning of Rule 144(a)(3) under the Securities Act, and Subscriber understands that the certificates or book-entries representing
the Shares will contain a legend in respect of such restrictions. If in the future the Subscriber decides to offer, resell, pledge
or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise transferred only pursuant to: (i) registration
under the Securities Act, or (ii) an available exemption from registration. Subscriber agrees that if any transfer of its Shares
or any interest therein is proposed to be made, as a condition precedent to any such transfer, Subscriber may be required to deliver
to the Company an opinion of counsel satisfactory to the Company. Absent registration or an exemption, the Subscriber agrees not
to resell the Shares. Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions.

 

2.1.9.   No
Governmental Consents. No governmental, administrative or other third party consents or approvals are required, necessary
or appropriate on the part of Subscriber in connection with the transactions contemplated by this Agreement.

 

    2

     

    

 

2.2. Company’s
Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the Company hereby
represents and warrants to the Subscriber and agrees with the Subscriber as follows:

 

2.2.1. Organization
and Corporate Power. The Company is a Delaware corporation and is qualified to do business in every jurisdiction in which
the failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating
results or assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the
transactions contemplated by this Agreement.

 

2.2.2.   No
Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby do not violate, conflict with or constitute a default under (i) the Certificate of Incorporation or By Laws
of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject.

 

2.2.3.   Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will be duly and validly
issued, fully paid and non-assessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Subscriber
will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any kind, other than (a)
transfer restrictions hereunder and other agreements to which the Shares may be subject which have been notified to the Subscriber
in writing, (b) transfer restrictions under federal and state securities laws, and (c) liens, claims or encumbrances imposed due
to the actions of the Subscriber.

 

2.2.4.   No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company
which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement
or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other relief in connection
with any transactions.

 

3. Forfeiture
of Shares.

 

3.1. Partial
or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters of the
IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and any transferees of
Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 750,000 Shares and pro rata based
upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber
(and all other initial stockholders prior to the IPO, if any) will own an aggregate number of Shares, not including Shares
issuable upon exercise of any warrants or any Common Stock purchased by Subscriber in the IPO or in the aftermarket equal to
20% of the issued and outstanding Shares immediately following the IPO.

 

3.2. Termination
of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3, then after such time the
Subscriber (or successor in interest), shall no longer have any rights as a holder of such forfeited Shares, and the Company
shall take such action as is appropriate to cancel such forfeited Shares.

 

3.3. Share
Certificates. In the event an adjustment to the Original Certificates, if any, is
required pursuant to this Section 3, then the Subscriber shall return such Original Certificates to the Company or its
designated agent as soon as practicable upon its receipt of notice from the Company advising Subscriber of such adjustment,
following which a new certificate (the “New Certificate”), if any, shall be issued in such amount
representing the adjusted number of Shares held by the Subscriber. The New Certificate, if any, shall be returned to the
Subscriber as soon as practicable. Any such adjustment for any uncertificated securities held by the Subscriber shall be made
in book-entry form.

 

4. Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement, the Subscriber
hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the Company from the trust
account which will be established for the benefit of the Company’s public stockholders and into which substantially all
of the proceeds of the IPO will be deposited (the “Trust Account”), in the event of a liquidation of the Company
upon the Company’s failure to timely complete an initial business combination. For purposes of clarity, in the event the
Subscriber purchases Shares in the IPO or in the aftermarket, any additional Shares so purchased shall be eligible to receive
any liquidating distributions by the Company. However, in no event will the Subscriber have the right to redeem any Shares into
funds held in the Trust Account upon the successful completion of an initial business combination.

 

    3

     

    

 

5. Restrictions
on Transfer.

 

5.1. Securities
Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly known as an
“Insider Letter”) to be dated as of the closing of the IPO by and between Subscriber and the Company,
Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Shares unless,
prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities
laws with respect to the Shares proposed to be transferred shall then be effective or (b) the Company has received an opinion
from counsel reasonably satisfactory to the Company, that such registration is not required because such transaction is
exempt from registration under the Securities Act and the rules promulgated by the Securities and Exchange Commission
thereunder and with all applicable state securities laws. 

 

5.2. Lock-up.
Subscriber acknowledges that the Securities will be subject to lock-up provisions (the “Lock-up”) contained
in the Insider Letter.

 

5.3. Restrictive
Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as follows:

 

“THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS
AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND
SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.”

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCKUP AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED DURING THE TERM OF THE LOCKUP.”

 

5.4. Additional
Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration of an
extraordinary dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio, a
recapitalization or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration,
any new, substituted or additional securities or other property which are by reason of such transaction distributed with
respect to any Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be
subject to this Section 5 and Section 3. Appropriate adjustments to reflect the distribution of such securities or property
shall be made to the number and/or class of Shares subject to this Section 5 and Section 3.

 

5.5. Registration
Rights. Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from the registration
requirements of the Securities Act and will become freely tradable only after certain conditions are met or they are
registered pursuant to a registration rights agreement to be entered into with the Company prior to the closing of the
IPO.

 

6. Other
Agreements.

 

6.1. Further
Assurances. Subscriber agrees to execute such further instruments and to take such further action as may reasonably be
necessary to carry out the intent of this Agreement.

 

6.2. Notices. All
notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing and
delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or
electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such
party or such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the
electronic mail address most recently provided to such party or such other electronic mail address as may be designated in
writing by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of
delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or
electronic transmission, one (1) business day after delivery to an overnight courier service or five (5) days after mailing
if sent by mail.

 

    4

     

    

 

6.3. Entire
Agreement. This Agreement, together with the Insider Letter and the Registration Rights Agreement, each substantially in
the form to be filed as an exhibit to the Registration Statement on Form S-1 associated with the Company’s IPO,
embodies the entire agreement and understanding between the Subscriber and the Company with respect to the subject matter
hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No
statement, representation, warranty, covenant or agreement of any kind not expressly set forth in this Agreement shall
affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement. 

 

6.4. Modifications
and Amendments. The terms and provisions of this Agreement may be modified or amended only by written agreement executed by
all parties hereto.

 

6.5. Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or
consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this
Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the
purpose for which it was given, and shall not constitute a continuing waiver or consent.

 

6.6. Assignment. The
rights and obligations under this Agreement may not be assigned by either party hereto without the prior written consent of
the other party.

 

6.7. Benefit. All
statements, representations, warranties, covenants and agreements in this Agreement shall be binding on the parties hereto
and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing in this
Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity
shall be regarded as a third-party beneficiary of this Agreement.

 

6.8. Governing
Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance with and
governed by the laws of New York applicable to contracts wholly performed within the borders of such state, without giving
effect to the conflict of law principles thereof.

 

6.9. Severability. In
the event that any court of competent jurisdiction shall determine that any provision, or any portion thereof, contained in
this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the
extent that such court deems it reasonable and enforceable, and as so limited shall remain in full force and effect. In the
event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of
this Agreement shall nevertheless remain in full force and effect.

 

6.10. No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy
under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right, power
or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto,
nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any
other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy
by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to
or demand on a party not expressly required under this Agreement shall entitle the party receiving such notice or demand to
any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party
giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

6.11. Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in
any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery
hereof and any investigations made by or on behalf of the parties.

 

6.12. No
Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other
financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in
such a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other
harmless from any claim or demand for commission or other compensation by any broker, finder, financial consultant or similar
agent claiming to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in
defending against any such claim.

 

    5

     

    

 

6.13. Headings
and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference
only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

6.14. Counterparts. This
Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it
being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by
facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature
page were an original thereof.

 

6.15. Construction. The
parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any provision
of this Agreement. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders
will be construed to include any other gender, and words in the singular form will be construed to include the plural and
vice versa, unless the context otherwise requires. The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and
words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited.
The parties hereto intend that each representation, warranty, and covenant contained herein will have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the
fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such
party hereto is in breach of the first representation, warranty, or covenant.

 

6.16. Mutual
Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof has been
subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any
party hereto.

 

7. Voting
and Tender of Shares. Subscriber agrees to vote the Shares in favor of an initial business combination that the Company negotiates
and submits for approval to the Company’s stockholders and shall not seek redemption with respect to such Shares. Additionally,
the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the Company’s stockholders
in connection with an initial business combination negotiated by the Company.

 

8.
  Indemnification. Each party shall indemnify the other against any loss, cost
or damages (including reasonable attorney’s fees and expenses) incurred as a result of such party’s breach of any
representation, warranty, covenant or agreement in this Agreement.

 

[Signature
Page Follows]

  

    6

     

    

 

If
the foregoing accurately sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return
it to us.

  

	 	Very
    truly yours,
	 	 
	 	PROGRESS
    ACQUISITION CORP.
	 	 	 
	 	By:	/s/
    Richard Gallagher
	 	 	Name: 	 Richard Gallagher  
	 	 	Title:	Chief
Financial Officer

  

	Accepted and agreed as of the date first written above.	 
	 	 
	PROGRESS CAPITAL I, LLC	 
	 	 
	By:	/s/ David Arslanian	 
	 	Name: 	 David Arslanian	 
	 	Title: 	Managing Member 	 
	 	 	 
	By:	/s/ Richard Gallagher	 
	 	Name: 	Richard Gallagher	 
	 	Title: 	Managing Member 	 
	 	 	 
	By:	/s/ Warren Schlichting	 
	 	Name: 	Warren Schlichting	 
	 	Title:  	Managing Member 	 

 

[Signature
Page to Securities Subscription Agreement]

 

 

7EX-10.18

 Exhibit 10.18 

VIRACTA THERAPEUTICS, INC. 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Executive Employment Agreement (this “Agreement”) is entered into as of May 31, 2017 (the “Agreement
Date”) by and between Viracta Therapeutics, Inc. (the “Company”), and Ivor Royston (“Executive”), and effective as of April 3, 2017 (the “Effective Date”). 

1.    Duties and Scope of Employment. 

(a)    Positions and Duties. As of the Effective Date, Executive will serve as Chief Executive Officer of the
Company. Executive will render such business and professional services in the performance of Executive’s duties, consistent with Executive’s position within the Company, as will reasonably be assigned to Executive by the Company’s
Board of Directors (the “Board”). The period of Executive’s employment under this Agreement is referred to herein as the “Employment Term.” 

(b)    Board Membership. During the Employment Term, Executive will serve as a member of the Board, subject to any
required Board and/or stockholder approval. 
 (c)    Obligations. During the Employment Term, Executive will
perform Executive’s duties faithfully and to the best of Executive’s ability and will devote Executive’s full business efforts and time to the Company. For the duration of the Employment Term, Executive agrees not to actively engage
in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Board; provided, however, that nothing herein will restrict Executive from continuing to serve on boards of other
companies or entities that do not directly or indirectly compete with the Company as long as those relationships have been previously disclosed to the Board. 

2.    At-Will Employment. The parties agree that Executive’s
employment with the Company will be “at-will” employment and may be terminated at any time with or without cause or notice. Executive understands and agrees that neither Executive’s job
performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of Executive’s employment with the Company.
However, as described in this Agreement, Executive may be entitled to severance benefits depending on the circumstances of Executive’s termination of employment with the Company. 

3.    Compensation. 

(a)    Base Compensation. During the Employment Term, the Company will pay Executive an annual salary of three
hundred eighty thousand Dollars ($380,000.00) as compensation for Executive’s services (the “Base Salary”), subject to Section 17. Executive’s base salary will be subject to review and adjustments will be made based
upon the Company’s normal performance review practices. 

 (b)    Employee Benefits. During the Employment Term, Executive
will be entitled to participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability to other senior executives of the Company, including, without limitation, the Company’s group medical,
dental, vision, disability, life insurance, and flexible-spending account plans, pursuant to the terms and conditions of such plans. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any
time. 
 (c)    Paid Time Off/Vacation. During the Employment Term, Executive will be entitled to fifteen
(15) days of paid time-off/vacation, in accordance with the Company’s paid-time off policies. 

(d)    Target Bonus. During the Employment Term, Executive will be eligible to receive an annual bonus of up to
forty percent (40%) of Base Salary (the “Target Bonus”), subject to Section 17, upon achievement of performance objectives to be determined by the Board, in its sole discretion, except that the performance objectives determined
with respect to the first annual bonus shall include completion of the second half 2017 financing tranche. For the Company’s 2017 fiscal year, Executive’s Target Bonus will be pro-rated based on the
number of days between the Effective Date and December 31, 2017. The achieved portion of the Target Bonus will be paid as soon as practicable after the Board determines such bonus has been achieved, but in no event will any such bonus be paid
after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which
such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned. 

4.    Equity. 

(a)    Sign-on Option. As soon as practicable following the Agreement Date,
the Company will recommend that the Board grant Executive a stock option or options to purchase an aggregate of 250,000 shares of the Company’s common stock (the “Sign-On Option”) at an
exercise price per share equal to the per share fair market value of the Company’s common stock on the date of grant. The shares subject to the Sign-On Option will be fully vested at grant. The Sign-On Option will be intended to the maximum extent permissible under Section 422 of the Internal Revenue Code of 1986, as amended (“Section 422”), to qualify as an
incentive stock option (as defined in Section 422) (an “ISO”). The Sign-On Option will be subject to the terms, definitions and provisions of the Company’s 2016 Equity Incentive
Plan, as amended from time to time (the “Stock Plan”), or any successor plan, and the stock option agreement by and between Executive and the Company thereunder (the “Option Agreement” together with the Stock Plan,
the “Stock Documents”). 
 (b)    Time-Based Option. As soon as practicable following the
Agreement Date, the Company will recommend that the Board grant Executive a nonstatutory stock option to purchase a number of shares of the Company’s common stock equal to 4.8% of the Fully-Diluted Capitalization of the Company (as defined
below) as of the Effective Date, calculated as if this option was granted and outstanding as of such date (the “Initial Time-Based Option”). Also, the Company will recommend that the Board grant Executive an additional
nonstatutory stock option to purchase an additional number of shares of the Company’s common stock to maintain 4.8% of the Fully-Diluted Capitalization of the Company in the event of completion of the second half 2017 financing tranche (such an
option, an “Anti-dilution Time-Based Option” and, together with the Initial Time-Based Option, the “Time Based Option”), subject to Executive continuing to provide services to the Company through the date of such
completion. Each Time-Based Option will be granted at an exercise price per share equal to the per share fair market value of the Company’s common stock on the date of grant and with a vesting commencement date of April 3, 2017. The
Company will recommend to the Board that each Time-Based Option be early exercisable, subject to the Company’s right to repurchase any shares exercised prior to vesting that have not vested as of immediately following the date that Executive
ceases to be a Service Provider (as defined in the Stock Plan). 1/48th of the shares subject to each Time-Based Option will vest on the same day of the month as the vesting commencement date beginning on the month following the vesting commencement
date and each month thereafter, subject to Executive continuing to be a Service Provider through each such date (such schedule, the “Original Vesting Schedule”). Notwithstanding the foregoing, in the event that the Board certifies
that 20 patients have enrolled in the VRx-399s trial for EBV+ lymphonas (the “Acceleration Event”), (1) a number of shares equal to 25% of the shares subject to each Time-Based Option (or such
lesser number of shares that are then-unvested) shall become fully vested, subject to Executive continuing to provide services to the Company through the date of such certification and, (2) to the extent an Anti-Dilution Time-Based Option is
granted after the certification of the Acceleration Event, a number of shares equal to 25% of the shares subject to the Anti-Dilution Time-Based Option will be vested upon grant (such shares, together, the “Accelerated Shares”). For
the avoidance of doubt, the Accelerated Shares shall be those shares subject to each Time-Based Option that are last to vest (or, in the case of an Anti-Dilution Time-Based Option granted after the certification of the Acceleration Event, would have
been last to vest had such option been granted prior to the certification of the Acceleration Event) under the Original Vesting Schedule. The Time-Based Option will be subject to the terms, definitions and provisions of the Stock Documents. 

  
 -2- 

 (c)    Performance-Based Options. As soon as practicable
following the completion of a Financing Event (as defined below) that includes a new investor (the “New Investor Financing Event”), the Company will recommend that the Board grant Executive a stock option to purchase a number of
shares of the Company’s common stock equal to 0.5% of the Fully-Diluted Capitalization of the Company as of the immediately after the closing of the New Investor Financing Event, calculated as if this option was granted and outstanding as of
such date (the “New Investor Financing Option”) at an exercise price per share equal to the per share fair market value of the Company’s common stock on the date of grant. Additionally, as soon as practicable following the
achievement of a performance mutually-agreed upon between the Board and Executive (the “Performance Goal”), the Company will recommend that the Board grant Executive a stock option to purchase a number of shares of the
Company’s common stock equal to 0.5% of the Fully-Diluted Capitalization of the Company as soon as administratively practicable on or after the date the Performance Goal is achieved, calculated as if this option was granted and outstanding as
of such date (the “Performance Goal Option” and together with the New Investor Financing Option, the “Performance-Based Options”) at an exercise price per share equal to the per share fair market value of the
Company’s common stock on the date of grant. In both cases, the Company will recommend that the shares subject to the Performance-Based Options be ISOs to the maximum extent permitted by law, and be fully vested and exercisable on the date of
grant. The Performance-Based Options will be subject to the terms, definitions and provisions of the Stock Documents or such other equity documents as may be in effect as of such time and are approved by the Board. 

  
 -3- 

 (d)    Additional Equity Awards. Executive will be eligible to
receive additional awards of stock options or other equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Board or its committee will determine in its discretion whether Executive will be granted
any such equity awards and the terms of any such award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. 

5.    Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses
incurred by Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 

6.    Severance Benefits; Change in Control Benefits. 

(a)    Termination for other than Cause, Death or Disability or Resignation for Good Reason. If the Company
terminates Executive’s employment with the Company other than for Cause (as defined below), death or disability, or Executive resigns from Executive’s employment with the Company for Good Reason (as defined below) (such a termination,
a “Qualified Termination”), then, subject to Section 7, Executive will be entitled to the following: 

(i)    continued payment of Executive’s annual Base Salary, at the level in effect immediately prior to
Executive’s termination date, for a period of twelve (12) months following the termination date, with the first payment paid on the first Company payroll date following the effective date of the Release (as defined below) (and to include
any amounts that otherwise would have been paid between the termination date and the payment date); 

(ii)    reimbursement by the Company for the cost of premiums for Executive and Executive’s covered dependents, if
any, for group health insurance continuation coverage under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for up to twelve (12) months following Executive’s termination of
employment (the “COBRA Premium Reimbursement”), provided that (x) Executive and Executive’s covered dependents timely elect and remain eligible for continued coverage under COBRA and (y) such COBRA Premium Reimbursement does
not result in excise tax penalties for the Company under applicable laws (including, without limitation, Section 2716 of the Public Health Service Act). Notwithstanding the preceding, if the Company determines in its sole discretion that it
cannot provide COBRA reimbursement benefits without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will instead provide the Executive a taxable payment in an
amount equal to the monthly COBRA premium that the Executive would be required to pay to continue the Executive’s group health coverage in effect on the date of termination of employment (which amount will be based on the premium for the first
month of COBRA coverage), which payments will be made regardless of whether the Executive elects COBRA continuation coverage and will commence in the month following the month of the termination date and continue for the period of months indicated
in this section; and 
 (iii)    payment of any earned but unpaid Target Bonus with the payment paid on the first
Company payroll date following the effective date of the Release. 

  
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 (b)    Change in Control Benefits. 

(i)    Change in Control. Upon a Change in Control (as defined in the Stock Plan), then 50% of the unvested
portion of any stock options or other equity award held by Executive that remain outstanding as of immediately prior to such Qualified Termination shall immediately vest and become exercisable. 

(ii)    Qualified Termination following a Change in Control. Upon a Qualified Termination on or after a Change in
Control (as defined in the Stock Plan), then, in addition to the severance benefits described in Section 6(a) above and subject to Section 7, 100% of the unvested portion of any stock options or other equity award held by Executive that
remain outstanding as of immediately prior to the date of such Qualified Termination shall immediately vest and become exercisable (but, in no case, will more than 100% of the shares subject to any award vest and become exercisable). 

(c)    Termination for Cause, Death or Disability; Voluntary Resignation without Good Reason. If Executive’s
employment with the Company terminates voluntarily by Executive for any reason (except upon resignation for Good Reason), for Cause by the Company or due to Executive’s death or disability, then (i) all vesting will terminate immediately
with respect to Executive’s outstanding equity awards, (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately (except as to amounts already earned), and (iii) Executive will only be eligible
for severance benefits in accordance with the Company’s established policies, if any, as then in effect. 

7.    Conditions to Receipt of Payments; No Duty to Mitigate. 

(a)    Separation Agreement and Release of Claims. The receipt of any severance pursuant to Section 6 will be
subject to Executive signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company (the “Release”) and provided that such Release becomes effective and irrevocable no
later than sixty (60) days following the termination date (such deadline, the “Release Deadline”). If the Release does not become effective by the Release Deadline, Executive will forfeit any rights to severance or benefits
under this Agreement. In no event will severance payments or benefits be paid or provided until the Release becomes effective and irrevocable. 

(b)    Limitation on Payments. 

(i)    In the event that the payments and benefits provided for in this Agreement or other payments and benefits payable
or provided to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section 7(b), would be subject to the excise tax imposed by Section 4999 of the
Code, then your payments and benefits under this Agreement or other payments or benefits (the “280G Amounts”) will be either: 

(x) delivered in full, or 

(y) delivered as to such lesser extent which would result in no portion of such payments and benefits being subject to the excise tax
under Section 4999 of the Code, 

  
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 whichever of the foregoing amounts, taking into account the applicable federal, state and
local income taxes and the excise tax imposed by Section 4999 of the Code, results in your receipt on an after-tax basis, of the greatest amount of 280G Amounts, notwithstanding that all or some portion
of the 280G Amounts may be taxable under Section 4999 of the Code. 
 (ii)    Reduction Order. In the
event that a reduction of 280G Amounts is being made in accordance with this Section 7(b), the reduction will occur, with respect to the 280G Amounts considered parachute payments within the meaning of Section 280G of the Code, in the
following order: 
 (1)    reduction of cash payments in reverse chronological order (that is, the cash payment owed on
the latest date following the occurrence of the event triggering the excise tax will be the first cash payment to be reduced); 

(2)    cancellation of equity awards that were granted “contingent on a change in ownership or control” within
the meaning of Code Section 280G in the reverse order of date of grant of the awards (that is, the most recently granted equity awards will be cancelled first); 

(3)    reduction of the accelerated vesting of equity awards in the reverse order of date of grant of the awards (that
is, the vesting of the most recently granted equity awards will be cancelled first); and 
 (4)    reduction of
employee benefits in reverse chronological order (that is, the benefit owed on the latest date following the occurrence of the event triggering the excise tax will be the first benefit to be reduced). 

In no event will Executive have any discretion with respect to the ordering of payments or benefits. 

(iii)    Firm. Unless the Company and Executive otherwise agree in writing, any determination required under this
Section 7(b) will be made in writing by a nationally recognized accounting or valuation firm (the “Firm”) selected by the Company, whose determination will be conclusive and binding upon you and the Company for all purposes. For
purposes of making the calculations required by this Section 7(b), the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of
Sections 280G and 4999 of the Code. The Company and Executive will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section. The Company will bear all costs and
make all payments for the Firm’s services relating to any calculations contemplated by this Section 7(b). 

(c)    Section 409A. 

(i)    Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to be paid or provided to
Executive, if any, pursuant to this Agreement, when considered together with any other severance payments or separation benefits that are considered deferred compensation under Section 409A of the Code, and the final regulations and any
guidance promulgated thereunder (“Section 409A”) (together, the “Deferred Compensation Separation Benefits”) will be paid or otherwise provided until Executive has a “separation from
service” within the meaning of Section 409A. 

  
 -6- 

 (ii)    Any severance payments or benefits under this Agreement that
would be considered Deferred Compensation Severance Benefits will be paid on, or, in the case of installments, will not commence until, the sixtieth (60th) day following Executive’s
separation from service. Any installment payments that would have been made to Executive during the sixty (60) day period immediately following Executive’s separation from service but for the preceding sentence will be paid to Executive on
the sixtieth (60th) day following Executive’s separation from service and the remaining payments shall be made as provided in this Agreement. 

(iii)    Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee”
within the meaning of Section 409A at the time of Executive’s termination (other than due to death), then the Deferred Compensation Separation Benefits that are payable within the first six (6) months following Executive’s
separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s separation from service. All subsequent Deferred Compensation
Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from service, but
prior to the six (6) month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Executive’s death
and all other Deferred Compensation Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute separate payments
for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 

(iv)    Any amount paid under this Agreement that satisfies the requirements of the “short-term deferral” rule
set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Compensation Separation Benefits for purposes of clause (i) above. 

(v)    Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation
from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit (as defined below) will not constitute Deferred Compensation Separation
Benefits for purposes of clause (i) above. 
 (vi)    The foregoing provisions are intended to comply with the
requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The
Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition
prior to actual payment to Executive under Section 409A. 
 (d)    Confidential Information Agreement.
Executive’s receipt of any payments or benefits under Section 6 will be subject to Executive continuing to comply with the terms of Confidential Information Agreement (as defined in Section 9). 

  
 -7- 

 (e)    No Duty to Mitigate. Executive will not be required to
mitigate the amount of any payment contemplated by this Agreement, nor will any earnings that Executive may receive from any other source reduce any such payment. 

8.    Definitions. 

(a)    Cause. For purposes of this Agreement, “Cause” is defined as: (i) an act of dishonesty
made by Executive in connection with Executive’s responsibilities as an employee; (ii) Executive’s conviction of, or plea of nolo contendere to, a felony or any crime involving fraud, embezzlement or any other act of
moral turpitude; (iii) Executive’s gross misconduct; (iv) Executive’s unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom Executive owes an obligation of
nondisclosure as a result of Executive’s relationship with the Company; (v) Executive’s willful breach of any obligations under any written agreement or covenant with the Company; or (vi) Executive’s continued failure to
perform Executive’s employment duties after Executive has received a written demand of performance from the Company with specifically sets forth the factual basis for the Company’s belief that Executive has not substantially performed
Executive’s duties and has failed to cure such non-performance to the Company’s satisfaction within 10 business days after receiving such notice. 

(b)    Financing Event. For purposes of this Agreement, a “Financing Event” is defined as the
closing of a transaction or series of transactions that are approved by the Board and in which the Company receives at least $8 million of paid-in capital, which may include the second half 2017 financing
tranche or a Series C financing. The determination of whether a Financing Event has occurred will be in the sole discretion of the Board. 

(c)    Fully-Diluted Capitalization of the Company. For purposes of this Agreement, the “Fully-Diluted
Capitalization of the Company” means, as of the applicable date, the total number of outstanding shares of common stock of the Company, assuming (1) the conversion of all shares of preferred stock into common stock, (2) the
exercise of all outstanding warrants for capital stock of the Company (and conversion into common stock of the preferred stock issuable upon any such exercise), and (3) the issuance and exercise of all shares of common stock subject to
outstanding equity awards under the Stock Plan. 
 (d)    Good Reason. For purposes of this Agreement,
“Good Reason” means Executive’s resignation within thirty (30) days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of the following, without Executive’s
consent: (i) the assignment to Executive of any duties, or the reduction of Executive’s duties, either of which results in a material diminution of Executive’s authority, duties, or responsibilities with the Company in
effect immediately prior to such assignment, or the removal of Executive from such position and responsibilities; provided, however, that a reduction in duties, position or responsibilities solely by virtue of the Company being acquired and made
part of a larger entity, whether as a subsidiary, business unit or otherwise (as, for example, when the Chief Executive Officer of the Company remains the Chief Executive Officer of the Company following a Change in Control where the Company becomes
a wholly owned subsidiary of the acquiror, but is not made the Chief Executive Officer of the acquiring corporation) will not constitute “Good Reason;” (ii) a material reduction of Executive’s Base Salary (in other words, a reduction
of more than 10% of Executive’s Base Salary in any one year); (iii) a material change in the geographic location at which Executive must perform services (in other words, the relocation of Executive to a facility that is more than fifty
(50) miles from Executive’s current location); and (iv) the failure of the Company to obtain assumption of this Agreement by any acquirer or successor. Executive will not resign for Good Reason without first providing the Company with
written notice of the acts or omissions constituting the grounds for “Good Reason” within ninety (90) days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than thirty
(30) days following the date of such notice. 

  
 -8- 

 (e)    Section 409A Limit. For purposes of this Agreement,
“Section 409A Limit” will mean the lesser of two (2) times: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during the Company’s taxable year preceding
the Company’s taxable year of Executive’s termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect
thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is terminated. 

9.    Confidential Information. Executive agrees to enter into the Company’s standard At-Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement attached hereto as Exhibit A (the “Confidential Information Agreement”) upon commencing employment
hereunder. 
 10.    Assignment. This Agreement will be binding upon and inure to the benefit of (a) the
heirs, executors and legal representatives of Executive upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all
purposes. For this purpose, “successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets
or business of the Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment,
transfer, conveyance or other disposition of Executive’s right to compensation or other benefits will be null and void. 

11.    Notices. All notices, requests, demands and other communications called for hereunder will be in writing and
will be deemed given (i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well-established commercial overnight service, or (iii) four (4) days after being mailed by registered or certified mail,
return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 
 Viracta
Therapeutics, Inc. 
 4747 Executive Drive, Suite 700 

San Diego, CA 92121 

Attn: Chairman of the Board of Directors 

If to Executive: 
 at the last
residential address known by the Company. 

  
 -9- 

 12.    Severability. In the event that any provision hereof
becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 

13.    Arbitration. Executive agrees that any and all controversies, claims, or disputes with anyone (including the
Company and any employee, officer, director, stockholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s service to the Company, will be subject to arbitration in
accordance with the provisions of the Confidential Information Agreement. 
 14.    Integration. This Agreement,
together with the Stock Documents and the Confidential Information Agreement represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written
or oral. This Agreement may be modified only by agreement of the parties by a written instrument executed by the parties that is designated as an amendment to this Agreement. 

15.    Waiver of Breach. The waiver of a breach of any term or provision of this Agreement, which must be in
writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

16.    Headings. All captions and section headings used in this Agreement are for convenient reference only and do
not form a part of this Agreement. 
 17.    Tax Withholding. All payments made pursuant to this Agreement will
be subject to withholding of applicable taxes. 
 18.    Governing Law. This Agreement will be governed by the
laws of the State of California (with the exception of its conflict of laws provisions). 

19.    Acknowledgment. Executive acknowledges that Executive has had the opportunity to discuss this matter with
and obtain advice from Executive’s private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. 

20.    Counterparts. This Agreement may be executed in counterparts, and each counterpart will have the same force
and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 
 [Remainder of
Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by their duly authorized officers, as of the day and year first above written. 
  

									
	COMPANY:	 		 	
			
	VIRACTA THERAPEUTICS, INC.	 		 	
					
	By:	 	 /S/ James Woody
	 		 	Date:	 	 May 31, 2017

					
	Title:	 	 Chair of the Board
	 		 		 	
			
	EXECUTIVE	 		 	
				
	/S/ Ivor Royston	 		 	Date:	 	 May 31, 2017

	Ivor Royston	 		 		 	

 [SIGNATURE PAGE TO EMPLOYMENT AGREEMENT] 

  
 -11-

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