Document:

formofpsuagreement2021

Exhibit 10.1    Page 1  Chevron Corporation  Long-Term Incentive Plan Award  Performance Share Award         1. NOTICE OF PERFORMANCE SHARE AWARD.    You have been granted a Performance Share Award, subject to the terms and conditions of the Long-Term Incentive Plan  (“Plan”) and this Award agreement. By accepting this Performance Share Award, you agree to all terms and conditions of the  Plan, its Rules, and any provisions within this agreement.  Defined terms that are not defined herein shall have the meaning  ascribed to them in the Plan or Rules. In the event of any conflict between the provisions of this agreement and the terms of the  Plan or Rules, the terms of the Plan and/or Rules shall govern. For a copy of the plan documents, go to the Executive Plans  website, the Global Executive Plans website, or contact the Executive Compensation Group at [email address] or [phone  number].   1.1 NAME OF EMPLOYEE:   1.2 GRANT DATE:    1.3 NUMBER OF SHARES GRANTED:   1.4 PERFORMANCE PERIOD:    1.5 VESTING:  The Performance Share Award shall vest at the end of the Performance Period, adjusted as of  Termination as described in Sections 2.1 and 2.2.    2. TERMS AND CONDITIONS OF PERFORMANCE SHARE AWARD.    2.1 EFFECT OF TERMINATION ON VESTING. Termination of employment impacts Vesting. However the  payment will be calculated and paid after the end of the Performance Period.  a. Termination in a Non-European Union Payroll Country  If you are on a non-European Union country’s payroll at Termination of employment, your Performance  Share Award is affected as follows:  i. If your employment Terminates prior to [DATE] of the year following the Grant Date, then all  Performance Shares will be forfeited as of your date of Termination.  ii. If your employment Terminates on or after [DATE] of the year following the Grant Date and if, upon  Termination, you are at least age 65, have at least 90 points (sum of age and service at Termination),  or have retired due to Mandatory Retirement, 100% of the Performance Share Award will vest.   iii. If your employment Terminates on or after [DATE] of the year following the Grant Date and if, upon  Termination, you are at least age 60 or have at least 75 points (sum of age and service at  Termination): A portion of the Performance Share Award will vest. The number of the vested  Performance Share Award is determined by multiplying the number of Performance Shares granted  by the number of completed months from the Performance Period start date to your Termination date,  up to a maximum of 36 months, divided by 36 months. The unvested portion of your Performance  Shares Award will be forfeited.    iv. Notwithstanding the foregoing, with the exception of Section 2.1a.ii, if you Terminate employment  after a Change in Control and are eligible for a severance pay benefit under the Chevron Corporation  Change in Control Surplus Employee Severance Program for LTIP Eligible Participants in Salary  Grades 43 and Below, as may be amended, the vested Performance Share Award will be determined  by multiplying the number of Performance Shares granted by the number of completed months from  the Performance Period start date to your Termination date, up to a maximum of 36 months, divided  by 36 months. The unvested portion of your Performance Shares Award will be forfeited.    

 

  Page 2    b. Termination in a European Union Payroll1 Country  If you are on a European Union country’s payroll at Termination of employment, your Performance Share  Award is affected as follows.     i. If your employment Terminates prior to [DATE] of the year following the Grant Date, then all  Performance Shares will be forfeited as of your date of Termination.  ii. If your employment Terminates on or after [DATE] of the year following the Grant Date and if, upon  Termination, you have at least 30 years of service: 100% of the Performance Share Award will vest.     iii. If your employment Terminates on or after [DATE] of the year following the Grant Date and if, upon  Termination you have at least 25 years of service but less than 30 years of service: A portion of the  Performance Share Award will vest. The vested portion of your Performance Share Award is  determined by multiplying the number of Performance Shares granted by the number of completed  years from the Performance Period start date to your Termination date, up to a maximum of three  years, divided by three years. The unvested portion of your Performance Shares Award will be  forfeited.     iv. Notwithstanding the foregoing, with the exception of Section 2.1b.ii, if you Terminate employment  after a Change in Control and are eligible for a severance pay benefit under the Chevron Corporation  Change in Control Surplus Employee Severance Program for LTIP Eligible Participants in Salary  Grades 43 and Below, as may be amended, the vested portion of the Performance Share Award will  be determined by multiplying the number of Performance Shares granted by the number of completed  months from the Performance Period start date to your Termination date, up to a maximum of 36  months, divided by 36 months. The unvested portion of your Performance Shares will be forfeited.     2.2 DISABILITY.  For purposes of the Vesting and the forfeiture of your Performance Share Award, you are  deemed to have Terminated upon the earlier of twenty-nine (29) months after the commencement of long-term  disability benefits under a plan or program sponsored by the Corporation, or the date you fail to qualify, or no  longer qualify for such long-term disability benefits, provided that you do not return to active employment with  the Corporation at that time.  2.3 DIVIDEND EQUIVALENTS. If the dividend record date and the accompanying dividend payment date of  Chevron common stock occur on or before the applicable Performance Period end date, your Performance  Shares will earn Dividend Equivalents in the form of additional Performance Shares, subject to the vesting and  Termination provisions described above.  If the dividend record date is on or before the applicable Performance  Period end date, but the accompanying dividend payment date is after the applicable Performance Period end  date, your Performance Share Award will earn Dividend Equivalents only in the form of cash.  2.4 PERFORMANCE SHARE AWARD PAYOUT.  The payout amount of your Performance Share Award is  equal to the number of your vested Performance Shares, including Dividend Equivalents, multiplied by Average  20-day Closing Price of Common Stock (as listed on the New York Stock Exchange) at the end of the  Performance Period, multiplied by the Performance Share Multiplier, as described below.    2.5 PERFORMANCE SHARE MULTIPLIER. The Performance Share Multiplier is determined using a  weighted average of (a) 70% weight, Chevron’s total stockholder return (TSR) compared with the TSR for the  Peer Group for the three-year Performance Period, and (b) 30% weight, Chevron’s return on average capital  employed improvement (ROCE-I) compared with the ROCE-I for the Peer Group for the three-year period  commencing with the quarter preceding the beginning of the Performance Period and ending one quarter prior  to the end of the Performance Period.   TSR   Relative TSR Rank 1 2 3 4 5 6  TSR Modifier  200% 160% 120% 80% 40% 0%      1 As defined in the LTIP Rules as of the date of termination.  

 

  Page 3  The Peer Group for TSR is BP, ExxonMobil, RD Shell, Total and S&P 500 Total Return Index. In the event  Chevron’s measured TSR is less than 1 percentage point of the nearest member(s) of the Competition, the  results will be considered a tie, and the TSR Modifier will be determined by dividing the sum of the TSR  Modifiers in the tied positions by the number of members of the Competition in the tie.  ROCE-I  Relative ROCE-I Rank 1 2 3 4 5  ROCE-I Modifier 200% 150% 100% 50% 0    The Peer Group for ROCE-I is BP, ExxonMobil, RD Shell, and Total. In the event Chevron’s measured ROCE- I is less than one half of a percentage point of the nearest member(s) of the Competition, the results will be  considered a tie, and the ROCE-I Modifier will be determined by dividing the sum of the ROCE-I Modifiers in  the tied positions by the number of members of the Competition in the tie.  Notwithstanding anything herein to the contrary, the Committee retains the discretion to adjust the payout of  Performance Shares downward if business or economic conditions warrant, as the Committee determines.     2.6 PAYMENT DATE. The non-deferred Performance Share Award will be paid in cash, less all applicable  withholding taxes, within two and a half months after the end of the Performance Period as described in  subsection 1.4.  2.7 DEFERRAL. You may defer payment of up to 90 percent of your payout attributable to your Performance  Share Award, provided you are in salary grade 28 or above, on the U.S. Payroll and subject to U.S. taxes on the  deferral election due date. Deferral elections may not be cancelled or changed after the deferral election due  date or upon Termination of employment. Deferred amounts will be further subject to all terms and conditions  of the Deferred Compensation Plan II and its Rules.  2.8 MISCONDUCT. Performance Share Awards may be forfeited for Misconduct as defined in the Plan, and the  Corporation may demand repayment of amounts received on or after the date of the Misconduct. See the terms  of the Plan for additional information.   2.9 TAXATION.  You are responsible for all taxes with respect to the Performance Share Award. The Corporation  makes no guarantees regarding the tax treatment of your Award and the tax consequences of Performance Share  Awards vary, depending on the country’s laws that govern this Performance Share Award. Consult the  prospectus or prospectus supplement and your tax advisor for more information regarding the tax consequences  of your Performance Share Award. For a copy of the prospectus or prospectus supplement, go to Executive  Plans website or the Global Executive Plans website.  2.10 ADJUSTMENTS.  In the event of any change in the outstanding shares of Common Stock by reason of any  stock dividend or split, recapitalization, reclassification, merger, consolidation, or other similar corporate  change, the number of Performance Shares under this agreement shall be adjusted, in accordance with the terms  of the Plan.   2.11 NON-TRANSFERABILITY OF AWARD. You are not permitted to sell, transfer, pledge, assign or encumber  this Performance Share Award during your lifetime. Notwithstanding the foregoing, this Performance Share  Award may be transferred or assigned after your death to your beneficiary.   2.12 BENEFICIARY DESIGNATION. You may designate a beneficiary for your Performance Share Award on  the Benefit Connection website. Benefit Connection can be accessed on the Chevron U.S. Benefits website  [website link]. Non-U.S. payroll employees may download a Beneficiary Designation form from the Global  Executive Plans website. Beneficiary designations for deferred Performance Share Awards are made under the  terms of the Deferred Compensation Plan II.  2.13 NO RIGHT TO CONTINUED EMPLOYMENT.  The granting of the Performance Share Award shall  impose no obligation on the Corporation or its affiliate to continue your employment.  2.14 RIGHTS AS A STOCKHOLDER.  You will have none of the rights of a stockholder of the Corporation with  respect to the Performance Share Award.  2.15 AMENDMENT.  This Award agreement may not be altered, modified or amended except by written  instrument signed by both parties and in accordance with the terms of the Plan.EX-10.1

 Exhibit 10.1 

SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

This Second Amended and Restated Employment Agreement (this “Agreement”), dated as of January 29, 2021 (the
“Effective Date”), is made by and between Seres Therapeutics, Inc., a Delaware corporation (together with any successor thereto, the “Company”), and Eric D. Shaff (“Executive”) (collectively
referred to as the “Parties” or individually referred to as a “Party”). 
 RECITALS 

 

	A.	 It is the desire of the Company to assure itself of the services of Executive as of the Effective Date and
thereafter by entering into this Agreement, which shall supersede and replace any prior employment arrangement, including, but not limited to, the Amended and Restated Employment Agreement, dated as of January 14, 2019, by and between the
Company and Executive, as amended (the “Prior Agreement”). 

  

	B.	 Executive and the Company mutually desire that Executive provide services to the Company on the terms herein
provided. 

 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements set forth below, the Parties hereto agree as
follows: 
  

	1.	 Employment. 

(a) General. Effective as of the Effective Date, the Company shall continue to employ Executive and Executive shall remain in the employ
of the Company, for the period and in the positions set forth in this Section 1, and subject to the other terms and conditions herein provided. 

(b) At-Will Employment. The Company and Executive acknowledge that Executive’s employment
is and shall continue to be at-will, as defined under applicable law, and that Executive’s employment with the Company may be terminated by either Party at any time for any or no reason (subject to the
notice requirements of Section 3(b)). This “at-will” nature of Executive’s employment shall remain unchanged during Executive’s tenure as an employee and may not
be changed, except in an express writing signed by Executive and a duly authorized officer of the Company. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, award or
compensation other than as provided in this Agreement or otherwise agreed to in writing by the Company or as provided by applicable law. The term of this Agreement (the “Term”) shall commence on the Effective Date and end on the
date this Agreement is terminated under Section 3. 

 (c) Positions and Duties. During the Term, Executive shall serve as President and
Chief Executive Officer of the Company with such responsibilities, duties and authority normally associated with such positions and as may from time to time be assigned to Executive by the Board of Directors of the Company or an authorized committee
of the Board (in either case, the “Board”). Executive shall devote substantially all of Executive’s working time and efforts to the business and affairs of the Company (which shall include service to its affiliates, if
applicable) and shall not engage in outside business activities (including serving on outside boards or committees) without the consent of the Board, provided that Executive shall be permitted to (i) manage Executive’s personal, financial
and legal affairs, (ii) participate in trade associations, and (iii) serve on the board of directors of not-for-profit or
tax-exempt charitable organizations, in each case, subject to compliance with this Agreement and provided that such activities do not materially interfere with Executive’s performance of Executive’s
duties and responsibilities hereunder. Executive agrees to observe and comply with the rules and policies of the Company as adopted by the Company from time to time, in each case as amended from time to time, as set forth in writing, and as
delivered or made available to Executive (each, a “Policy”). 
  

	2.	 Compensation and Related Matters. 

(a) Annual Base Salary. During the Term, Executive shall receive a base salary at a rate of $590,000 per annum, which shall be paid in
accordance with the customary payroll practices of the Company and shall be pro-rated for partial years of employment. Such annual base salary shall be reviewed (and may be adjusted) from time to time by the
Board (such annual base salary, as it may be adjusted from time to time, the “Annual Base Salary”). 
 (b) Bonus.
During the Term, Executive will be eligible to participate in an annual incentive program established by the Board. Executive’s annual incentive compensation under such incentive program (the “Annual Bonus”) shall be targeted
at 55% of Executive’s Annual Base Salary (such target, as may be adjusted by the Board from time to time, the “Target Bonus”). The Annual Bonus payable under the incentive program shall be based on the achievement of
performance goals to be determined by the Board. The payment of any Annual Bonus pursuant to the incentive program shall be subject to Executive’s continued employment with the Company through the date of payment, except as otherwise provided
in Section 4(b). 
 (c) Benefits. During the Term, Executive shall be eligible to participate in employee
benefit plans, programs and arrangements of the Company (including medical, dental and 401(k) plans), subject to the terms and eligibility requirements thereof and as such plans, programs and arrangements may be amended or in effect from time to
time. In no event shall Executive be eligible to participate in any severance plan or program of the Company, except as set forth in Section 4 of this Agreement. 

(d) Vacation. During the Term, Executive shall be entitled to paid personal leave in accordance with the Company’s Policies. Any
vacation shall be taken at the reasonable and mutual convenience of the Company and Executive. 
 (e) Business Expenses. During the
Term, the Company shall reimburse Executive for all reasonable travel and other business expenses incurred by Executive in the performance of Executive’s duties to the Company in accordance with the Company’s expense reimbursement Policy.

  
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 (f) Key Person Insurance. At any time during the Term, the Company shall have the
right to insure the life of Executive for the Company’s sole benefit. The Company shall have the right to determine the amount of insurance and the type of policy. Executive shall reasonably cooperate with the Company in obtaining such
insurance by submitting to physical examinations, by supplying all information reasonably required by any insurance carrier, and by executing all necessary documents reasonably required by any insurance carrier, provided that any information
provided to an insurance company or broker shall not be provided to the Company without the prior written authorization of Executive. Executive shall incur no financial obligation by executing any required document, and shall have no interest in any
such policy. 
  

	3.	 Termination. 

Executive’s employment hereunder and the Term may be terminated by the Company or Executive, as applicable, without any breach of this
Agreement under the following circumstances and the Term will end on the Date of Termination: 
 (a) Circumstances. 

(i) Death. Executive’s employment hereunder shall terminate upon Executive’s death. 

(ii) Disability. If Executive has incurred a Disability, as defined below, the Company may terminate Executive’s
employment. 
 (iii) Termination for Cause. The Company may terminate Executive’s employment for Cause, as
defined below. 
 (iv) Termination without Cause. The Company may terminate Executive’s employment without Cause.

 (v) Resignation from the Company for Good Reason. Executive may resign Executive’s employment with the Company
for Good Reason, as defined below. 
 (vi) Resignation from the Company Without Good Reason. Executive may resign
Executive’s employment with the Company for any reason other than Good Reason or for no reason. 
 (b) Notice of Termination.
Any termination of Executive’s employment by the Company or by Executive under this Section 3 (other than termination pursuant to paragraph (a)(i)) shall be communicated by a written notice to the other Party hereto
(i) indicating the specific termination provision in this Agreement relied upon, (ii) setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the
provision so indicated, if applicable, and (iii) specifying a Date of Termination which, if submitted by Executive, shall be at least forty-five (45) days following the date of such notice (a “Notice of Termination”);
provided, however, that in the event that Executive delivers a Notice of Termination to the Company, the Company may, in its sole discretion, change the Date of Termination to any date that occurs following the date of the Company’s
receipt of such Notice of Termination and is prior to the date specified in such Notice of Termination but the termination will still be considered a resignation by Executive. A Notice of Termination submitted by the Company may provide for a Date
of Termination on the date Executive receives the Notice of Termination, or any date thereafter elected by the Company in its sole discretion. The failure by the Company to set forth in the Notice of Termination any fact or circumstance which
contributes to a showing of Cause shall not waive any right of the Company hereunder or preclude the Company from asserting such fact or circumstance in enforcing the Company’s rights hereunder. 

  
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 (c) Company Obligations upon Termination. Upon termination of Executive’s employment
pursuant to any of the circumstances listed in this Section 3, Executive (or Executive’s estate) shall be entitled to receive the sum of: (i) the portion of Executive’s Annual Base Salary earned through the Date of Termination,
but not yet paid to Executive; (ii) any expense reimbursements owed to Executive pursuant to Section 2(e); and (iii) any amount accrued and arising from Executive’s participation in, or benefits accrued under any employee benefit
plans, programs or arrangements, which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs or arrangements (collectively, the “Company Arrangements”). Except as otherwise expressly
required by law (e.g., COBRA) or as specifically provided herein, all of Executive’s rights to salary, severance, benefits, bonuses and other compensatory amounts hereunder (if any) shall cease upon the termination of Executive’s
employment hereunder. In the event that Executive’s employment is terminated by the Company for any reason, Executive’s sole and exclusive remedy shall be to receive the payments and benefits described in this Section 3(c) or
Section 4, as applicable. 
 (d) Deemed Resignation. Upon termination of Executive’s employment for any reason,
Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries. 
  

	4.	 Severance Payments. 

(a) Termination for Cause, or Termination Upon Death, Disability or Resignation from the Company Without Good Reason. If
Executive’s employment shall terminate as a result of Executive’s death pursuant to Section 3(a)(i) or Disability pursuant to Section 3(a)(ii), pursuant to
Section 3(a)(iii) for Cause, or pursuant to Section 3(a)(vi) for Executive’s resignation from the Company without Good Reason, then Executive shall not be entitled to any severance payments or
benefits, except as provided in Section 3(c). 
 (b) Termination without Cause, or Resignation from the Company
for Good Reason. If Executive’s employment terminates without Cause pursuant to Section 3(a)(iv), or pursuant to Section 3(a)(v) due to Executive’s resignation for Good Reason, then,
except as otherwise provided by Section 4(c) and subject to Executive signing on or before the 21st day following Executive’s Separation from Service (as defined
below), and not revoking, a release of claims substantially in the form attached as Exhibit A to this Agreement (the “Release”), and Executive’s continued compliance with Section 5, Executive
shall receive, in addition to payments and benefits set forth in Section 3(c), the following: 

(i) an amount in cash equal to the product of (x) 1.5 times (y) the Annual Base Salary, payable in the form of
salary continuation in regular installments over the 18-month period following the date of Executive’s Separation from Service (the “Severance Period”) in accordance with the
Company’s normal payroll practices; 

  
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 (ii) to the extent unpaid as of the Date of Termination, an amount of cash
equal to any Annual Bonus earned by Executive for the Company’s fiscal year prior to the fiscal year in which the Date of Termination occurs, as determined by the Board in its discretion based upon actual performance achieved, which Annual
Bonus, if any, shall be paid to Executive in the fiscal year in which the Date of Termination occurs when bonuses for such prior fiscal year are paid in the ordinary course to actively employed senior executives of the Company; 

(iii) if Executive timely elects to receive continued medical, dental or vision coverage under one or more of the
Company’s group healthcare plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), then the Company shall directly pay, or reimburse Executive for, the COBRA premiums for Executive
and Executive’s covered dependents under such plans during the period commencing on Executive’s Separation from Service and ending upon the earliest of (X) the last day of the Severance Period, (Y) the date that Executive and/or
Executive’s covered dependents become no longer eligible for COBRA or (Z) the date Executive becomes eligible to receive healthcare coverage from a subsequent employer (and Executive agrees to promptly notify the Company of such
eligibility). Notwithstanding the foregoing, if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public
Health Service Act) or incurring an excise tax, the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s and
Executive’s covered dependents’ group health coverage in effect on the Date of Termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive
elects COBRA continuation coverage and shall commence in the month following the month in which the Date of Termination occurs and shall end on the earlier of (X) the last day of the Severance Period, (Y) the date that Executive and/or
Executive’s covered dependents become no longer eligible for COBRA or (Z) the date Executive becomes eligible to receive healthcare coverage from a subsequent employer (and Executive agrees to promptly notify the Company of such
eligibility); and 
 (iv) immediate vesting of the unvested portion of equity or equity-based awards held by Executive under
any Company equity compensation plan that vest based solely on Executive’s continued service or employment (for the avoidance of doubt, with any such awards that vest in whole or in part based on the attainment of performance-vesting conditions
being governed by the terms of the applicable award agreement) and that would have otherwise become vested solely as a result of Executive’s continued service during the twelve-month period following the Date of Termination. 

  
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 (c) Change in Control. In lieu of the payments and benefits set forth in
Section 4(b), in the event Executive’s employment terminates without Cause pursuant to Section 3(a)(iv), or pursuant to Section 3(a)(v) due to Executive’s
resignation for Good Reason, in either case, within 60 days prior to or 12 months following the date of a Change in Control, subject to Executive signing on or before the 21st day following Executive’s Separation from Service, and not revoking,
the Release, and Executive’s continued compliance with Section 5, Executive shall receive the following: 

(i) without duplication, the payments and benefits described in Section 4(b); 

(ii) an amount in cash equal to the product of (x) 1.5 times (y) the Target Bonus, payable in a lump sum within
thirty (30) days following the later of Executive’s Separation from Service and the date of a Change in Control; and 

(iii) all unvested equity or equity-based awards held by Executive under any Company equity compensation plans that vest solely
based on the passage of time shall immediately become 100% vested (and if the Date of Termination precedes the Change in Control, all such unvested awards shall remain outstanding and eligible to vest in accordance with this Section 4(c)(iii)
if a Change Control occurs within 60 days after the Date of Termination, provided that in no event will any such award remain outstanding beyond the final expiration date of the award set forth in the documents governing such award), with any other
equity or equity-based awards (including awards that vest in whole or in part based on the attainment of performance-vesting conditions) being governed by the terms of the applicable award agreement. 

(d) Survival. Notwithstanding anything to the contrary in this Agreement, the provisions of Sections 5 through 9 will
survive the termination of Executive’s employment and the termination of the Term. 
  

	5.	 Restrictive Covenants. Prior to the effectiveness of this Agreement, Executive has executed and
delivered to the Company an Employee Non-Competition, Non-Solicitation, Confidentiality and Assignment Agreement (the “Proprietary Information
Agreement”). Executive acknowledges and agrees that Executive continues to be bound by the existing terms of the Proprietary Information Agreement, and nothing in this Agreement affects or modifies the terms of the Proprietary
Information Agreement. Executive acknowledges that the provisions of the Proprietary Information Agreement will survive the termination of Executive’s employment and the termination of the Term for the periods set forth in the Proprietary
Information Agreement. 

  

	6.	 Assignment and Successors. 

The Company may assign its rights and obligations under this Agreement to any of its affiliates or to any successor to all or substantially all
of the business or the assets of the Company (by merger or otherwise), and may assign or encumber this Agreement and its rights hereunder as security for indebtedness of the Company and its affiliates. This Agreement shall be binding upon and inure
to the benefit of the Company, Executive and their respective successors, assigns, personal and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. None of Executive’s rights or
obligations may be assigned or transferred by Executive, other than Executive’s rights to payments hereunder, which may be transferred only by will or operation of law. Notwithstanding the foregoing, Executive shall be entitled, to the extent
permitted under applicable law and applicable Company Arrangements, to select and change a beneficiary or beneficiaries to receive compensation hereunder following Executive’s death by giving written notice thereof to the Company. 

  
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	7.	 Certain Definitions. 

(a) Cause. The Company shall have “Cause” to terminate Executive’s employment hereunder upon: 

(i) Executive’s refusal to (A) substantially perform Executive’s duties with the Company (other than any such
failure resulting from Executive’s Disability) or (B) comply with, in any material respect, any of the Company’s Policies; 

(ii) the Board’s determination that Executive refused in any material respect to carry out or comply with any lawful and
reasonable directive of the Board; 
 (iii) Executive’s material breach of a material provision of this Agreement; 

(iv) Executive’s conviction, plea of no contest, plea of nolo contendere, or imposition of unadjudicated probation
for any felony or crime involving moral turpitude; 
 (v) Executive’s unlawful use (including being under the influence)
or possession of illegal drugs on the Company’s (or any of its affiliate’s) premises or while performing Executive’s duties and responsibilities under this Agreement; or 

(vi) Executive’s commission of an act of fraud, embezzlement, misappropriation, willful misconduct, or breach of fiduciary
duty against the Company or any of its affiliates; 
 provided, however, that Executive’s termination will not be considered for Cause unless and until
(a) the Company has provided Executive, within 60 days of the Company’s knowledge of the occurrence of the facts and circumstances underlying the Cause event, written notice stating with reasonable specificity the applicable facts and
circumstances underlying such finding of Cause and (b) in the case of alleged Cause under clause (i), (ii) or (iii) of the foregoing definition and to the extent the applicable condition or event is reasonably capable of being cured,
Executive shall have failed to cure such condition or event within 30 days after the receipt of such notice. 
 (b) Change in
Control. “Change in Control” shall have the meaning set forth in the version of the Seres Therapeutics, Inc. 2015 Incentive Award Plan in effect on the Effective Date. 

(c) Code. “Code” shall mean the Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated
thereunder. 

  
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 (d) Date of Termination. “Date of Termination” shall mean (i) if
Executive’s employment is terminated by Executive’s death, the date of Executive’s death; or (ii) if Executive’s employment is terminated pursuant to Section 3(a)(ii) – (vi) either the date
indicated in the Notice of Termination or the date specified by the Company pursuant to Section 3(b), whichever is earlier. 

(e) Disability. “Disability” shall mean, at any time the Company or any of its affiliates sponsors a long-term disability
plan for the Company’s employees, “disability” as defined in such long-term disability plan for the purpose of determining a participant’s eligibility for benefits, provided, however, if the long-term disability plan
contains multiple definitions of disability, “Disability” shall refer to that definition of disability which, if Executive qualified for such disability benefits, would provide coverage for the longest period of time. The determination of
whether Executive has a Disability shall be made by the person or persons required to make disability determinations under the long-term disability plan. At any time the Company does not sponsor a long-term disability plan for its employees,
“Disability” shall mean Executive’s inability to perform, with or without reasonable accommodation, the essential functions of Executive’s positions hereunder for a total of three months during any
six-month period as a result of incapacity due to mental or physical illness as determined by a physician selected by the Company or its insurers and acceptable to Executive or Executive’s legal
representative, with such agreement as to acceptability not to be unreasonably withheld or delayed. Any refusal by Executive to submit to a medical examination for the purpose of determining Disability shall be deemed to constitute conclusive
evidence of Executive’s Disability. 
 (f) Good Reason. For the sole purpose of determining Executive’s right to severance
payments and benefits as described above, Executive’s resignation will be for “Good Reason” if Executive resigns within ninety days after any of the following events, unless Executive consents to the applicable event: (i) a
material decrease in Executive’s Annual Base Salary, (ii) a material decrease in Executive’s authority or areas of responsibility as are commensurate with Executive’s title or positions, including Executive ceasing to report
directly to the board of directors of the Company’s ultimate parent company following a Change in Control (or of the Company if there is no such parent entity), (iii) the Company’s material breach of a material provision of this Agreement
or another written agreement with Executive or (iv) the relocation of Executive’s primary office to a location more than 50 miles from the Boston metropolitan area. Notwithstanding the foregoing, no Good Reason will have occurred unless
and until Executive has: (a) provided the Company, within 60 days of Executive’s knowledge of the occurrence of the facts and circumstances underlying the Good Reason event, written notice stating with reasonable specificity the applicable
facts and circumstances underlying such finding of Good Reason; (b) provided the Company with an opportunity to cure the same within 30 days after the receipt of such notice; and (c) the Company shall have failed to cure such condition
within such 30 day period. 

  
 8 

	8.	 Parachute Payments. 

(a) Notwithstanding any other provisions of this Agreement or any Company equity plan or agreement, in the event that any payment or benefit by
the Company or otherwise to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (all such payments and benefits, including the payments and benefits under
Section 4(b) and Section 4(c) hereof, being hereinafter referred to as the “Total Payments”), would be subject (in whole or in part) to the excise tax imposed by Section 4999
of the Code (the “Excise Tax”), then the Total Payments shall be reduced (in the order provided in Section 8(b)) to the minimum extent necessary to avoid the imposition of the Excise Tax on the Total
Payments, but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income and employment taxes on such reduced Total Payments and after taking into account the phase
out of itemized deductions and personal exemptions attributable to such reduced Total Payments), is greater than or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal,
state and local income and employment taxes on such Total Payments and the amount of the Excise Tax to which Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions
and personal exemptions attributable to such unreduced Total Payments). 
 (b) The Total Payments shall be reduced in the following order:
(i) reduction on a pro-rata basis of any cash severance payments that are exempt from Section 409A of the Code (“Section 409A”), (ii) reduction on a pro-rata basis of any non-cash severance payments or benefits that are exempt from Section 409A, (iii) reduction on a
pro-rata basis of any other payments or benefits that are exempt from Section 409A, and (iv) reduction of any payments or benefits otherwise payable to Executive on a
pro-rata basis or such other manner that complies with Section 409A; provided, in case of clauses (ii), (iii) and (iv), that reduction of any payments attributable to the acceleration of vesting of
Company equity awards shall be first applied to Company equity awards that would otherwise vest last in time. 
 (c) All determinations
regarding the application of this Section 8 shall be made by an accounting firm or consulting group with experience in performing calculations regarding the applicability of Section 280G of the Code and the Excise Tax
selected by the Company (the “Independent Advisors”). For purposes of determinations, no portion of the Total Payments shall be taken into account which, in the opinion of the Independent Advisors, (i) does not constitute a
“parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) or (ii) constitutes reasonable compensation for services actually rendered, within the
meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base amount” (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation. The costs of obtaining such determination and all related fees
and expenses (including related fees and expenses incurred in any later audit) shall be borne by the Company. 
 (d) In the event it is
later determined that a greater reduction in the Total Payments should have been made to implement the objective and intent of this Section 8, the excess amount shall be returned promptly by Executive to the Company. 

  
 9 

	9.	 Miscellaneous Provisions. 

(a) Governing Law. This Agreement shall be governed, construed, interpreted and enforced in accordance with its express terms, and
otherwise in accordance with the substantive laws of the Commonwealth of Massachusetts without reference to the principles of conflicts of law of the Commonwealth of Massachusetts or any other jurisdiction that would result in the application of the
laws of a jurisdiction other than the Commonwealth of Massachusetts, and where applicable, the laws of the United States. 
 (b)
Validity. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 

(c) Notices. Any notice, request, claim, demand, document and other communication hereunder to any Party shall be effective upon
receipt (or refusal of receipt) and shall be in writing and delivered personally or sent by facsimile or certified or registered mail, postage prepaid, as follows: 

(i) If to the Company, the Chief Financial Officer at its headquarters, 

(ii) If to Executive, at the last address that the Company has in its personnel records for Executive, or 

(iii) at any other address as any Party shall have specified by notice in writing to the other Party. 

(d) Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, but all of
which together will constitute one and the same Agreement. Signatures delivered by facsimile or PDF shall be deemed effective for all purposes. 

(e) Entire Agreement. The terms of this Agreement, and the Proprietary Information Agreement incorporated herein by reference as set
forth in Section 5, are intended by the Parties to be the final expression of their agreement with respect to the subject matter hereof and supersede all prior understandings and agreements, whether written or oral,
including the Prior Agreement. The Parties further intend that this Agreement shall constitute the complete and exclusive statement of their terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other
legal proceeding to vary the terms of this Agreement. 
 (f) Amendments; Waivers. This Agreement may not be modified, amended, or
terminated except by an instrument in writing, signed by Executive and a duly authorized officer of Company. By an instrument in writing similarly executed, Executive or a duly authorized officer of the Company may waive compliance by the other
Party with any specifically identified provision of this Agreement that such other Party was or is obligated to comply with or perform; provided, however, that such waiver shall not operate as a waiver of, or estoppel with respect to,
any other or subsequent failure. No failure to exercise and no delay in exercising any right, remedy, or power hereunder will preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity. 

  
 10 

 (g) No Inconsistent Actions. The Parties hereto shall not voluntarily undertake or
fail to undertake any action or course of action inconsistent with the provisions or essential intent of this Agreement. Furthermore, it is the intent of the Parties hereto to act in a fair and reasonable manner with respect to the interpretation
and application of the provisions of this Agreement. 
 (h) Construction. This Agreement shall be deemed drafted equally by both the
Parties. Its language shall be construed as a whole and according to its fair meaning. Any presumption or principle that the language is to be construed against any Party shall not apply. The headings in this Agreement are only for convenience and
are not intended to affect construction or interpretation. Any references to paragraphs, subparagraphs, sections or subsections are to those parts of this Agreement, unless the context clearly indicates to the contrary. Also, unless the context
clearly indicates to the contrary, (i) the plural includes the singular and the singular includes the plural; (ii) “and” and “or” are each used both conjunctively and disjunctively; (iii) “any,” “all,”
“each,” or “every” means “any and all,” and “each and every”; (iv) “includes” and “including” are each “without limitation”; (v) “herein,” “hereof,”
“hereunder” and other similar compounds of the word “here” refer to the entire Agreement and not to any particular paragraph, subparagraph, section or subsection; and (vi) all pronouns and any variations thereof shall be
deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the entities or persons referred to may require. 

(i) Arbitration. Any controversy, claim or dispute arising out of or relating to this Agreement, shall be settled solely and
exclusively by a binding arbitration process administered by JAMS/Endispute in Boston, Massachusetts. Such arbitration shall be conducted in accordance with the then-existing JAMS/Endispute Rules of Practice and Procedure, with the following
exceptions if in conflict: (i) one arbitrator who is a retired judge shall be chosen by JAMS/Endispute; (ii) each Party to the arbitration will pay one-half of the expenses and fees of the
arbitrator, together with other expenses of the arbitration incurred or approved by the arbitrator; and (iii) arbitration may proceed in the absence of any Party if written notice (pursuant to the JAMS/Endispute rules and regulations) of the
proceedings has been given to such Party. Each Party shall bear its own attorney’s fees and expenses; provided that the arbitrator may assess the prevailing Party’s fees and costs against the
non-prevailing Party as part of the arbitrator’s award. The Parties agree to abide by all decisions and awards rendered in such proceedings. Such decisions and awards rendered by the arbitrator shall be
final and conclusive. All such controversies, claims or disputes shall be settled in this manner in lieu of any action at law or equity; provided, however, that nothing in this subsection shall be construed as precluding the bringing of an
action for injunctive relief or specific performance as provided in this Agreement or Proprietary Information Agreement. This dispute resolution process and any arbitration hereunder shall be confidential and neither any Party nor the neutral
arbitrator shall disclose the existence, contents or results of such process without the prior written consent of all Parties, except where necessary or compelled in a court to enforce this arbitration provision or an award from such arbitration or
otherwise in a legal proceeding. If JAMS/Endispute no longer exists or is otherwise unavailable, the Parties agree that the American Arbitration Association (“AAA”) shall administer the arbitration in accordance with its
then-existing rules as modified by this subsection. In such event, all references herein to JAMS/Endispute shall mean AAA. Notwithstanding the foregoing, Executive and the Company each have the right to resolve any issue or dispute over intellectual
property rights by court action instead of arbitration. 

  
 11 

 (j) Enforcement. If any provision of this Agreement is held to be illegal, invalid or
unenforceable under present or future laws effective during the Term, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a portion of
this Agreement; and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement. Furthermore, in lieu of such
illegal, invalid or unenforceable provision there shall be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable. 

(k) Withholding. The Company shall be entitled to withhold from any amounts payable under this Agreement any federal, state, local or
foreign withholding or other taxes or charges which the Company is required to withhold. The Company shall be entitled to rely on the advice of counsel if any questions as to the amount or requirement of withholding shall arise. 

(l) Section 409A. 

(i) General. The intent of the Parties is that the payments and benefits under this Agreement comply with or be exempt
from Section 409A and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. 

(ii) Separation from Service. Notwithstanding anything in this Agreement to the contrary, any compensation or benefits
payable under this Agreement that is designated under this Agreement as payable upon Executive’s termination of employment shall be payable only upon Executive’s “separation from service” with the Company within the meaning of
Section 409A (a “Separation from Service”) and, except as provided below, any such compensation or benefits described in Section 4 shall not be paid, or, in the case of installments, shall not commence
payment, until the thirtieth (30th) day following Executive’s Separation from Service (the “First Payment Date”). Any installment payments that would have been made to Executive during the thirty (30) day period
immediately following Executive’s Separation from Service but for the preceding sentence shall be paid to Executive on the First Payment Date and the remaining payments shall be made as provided in this Agreement. 

(iii) Specified Employee. Notwithstanding anything in this Agreement to the contrary, if Executive is deemed by the
Company at the time of Executive’s Separation from Service to be a “specified employee” for purposes of Section 409A, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this
Agreement is required in order to avoid a prohibited distribution under Section 409A, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service with the Company or (ii) the date of Executive’s death. Upon the first business day following the expiration of the
applicable Section 409A period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to Executive (or Executive’s estate or beneficiaries), and any remaining payments due to Executive under this Agreement
shall be paid as otherwise provided herein. 

  
 12 

 (iv) Expense Reimbursements. To the extent that any reimbursements
under this Agreement are subject to Section 409A, (i) any such reimbursements payable to Executive shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred,
(ii) Executive shall submit Executive’s reimbursement request promptly following the date the expense is incurred, (iii) the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any
subsequent year, other than medical expenses referred to in Section 105(b) of the Code, and (iv) Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 

(v) Installments. Executive’s right to receive any installment payments under this Agreement, including without
limitation any continuation salary payments that are payable on Company payroll dates, shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate
and distinct payment as permitted under Section 409A. Except as otherwise permitted under Section 409A, no payment hereunder shall be accelerated or deferred unless such acceleration or deferral would not result in additional tax or
interest pursuant to Section 409A. 
  

	10.	 Executive Acknowledgement. 

Executive acknowledges that Executive has read and understands this Agreement, is fully aware of its legal effect, has not acted in reliance
upon any representations or promises made by the Company other than those contained in writing herein, and has entered into this Agreement freely based on Executive’s own judgment. 

[Signature Page Follows] 

  
 13 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the date and year first
above written. 
  

			
	SERES THERAPEUTICS, INC.
		
	By:	 	/s/ Stephen Berenson
		 	Name: Stephen Berenson
		 	Title: Chairman of the Board

  

	
	
	/s/ Eric D. Shaff
	Eric D. Shaff

  
 [Signature Page to
Employment Agreement] 

 EXHIBIT A 

Separation Agreement and Release 

This Separation Agreement and Release (“Agreement”) is made by and between Eric D. Shaff
(“Executive”) and Seres Therapeutics, Inc. (the “Company”) (collectively referred to as the “Parties” or individually referred to as a “Party”). Capitalized terms used but not
defined in this Agreement shall have the meanings set forth in the Employment Agreement (as defined below). 
 WHEREAS, the Parties have
previously entered into that certain Second Amended and Restated Employment Agreement, dated as of _____________, [202_] (the “Employment Agreement”); and 

WHEREAS, in connection with Executive’s termination of employment with the Company or a subsidiary or affiliate of the Company effective
________, 20__, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that Executive may have against the Company and any of the Releasees as defined below, including, but not
limited to, any and all claims arising out of or in any way related to Executive’s employment with or separation from the Company or its subsidiaries or affiliates but, for the avoidance of doubt, nothing herein will be deemed to release any
rights or remedies in connection with Executive’s ownership of vested equity securities of the Company or Executive’s right to indemnification by the Company or any of its affiliates pursuant to contract or applicable law (collectively,
the “Retained Claims”). 
 NOW, THEREFORE, in consideration of the severance payments and benefits described in
Section 4 of the Employment Agreement, which, pursuant to the Employment Agreement, are conditioned on Executive’s execution and non-revocation of this Agreement, and in consideration of the mutual
promises made herein, the Company and Executive hereby agree as follows: 
 1. Severance Payments and Benefits; Salary and Benefits.
The Company agrees to provide Executive with the severance payments and benefits described in Section 4(b) and/or Section 4(c) of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the
Employment Agreement. In addition, to the extent not already paid, and subject to the terms and conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 3(c) of
the Employment Agreement, subject to and in accordance with the terms thereof. 

 2. Release of Claims. Executive agrees that, other than with respect to the Retained
Claims, the foregoing consideration represents settlement in full of all outstanding obligations owed to Executive by the Company, any of its direct or indirect subsidiaries and affiliates, and any of its or their respective current and former
officers, directors, equity holders, managers, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees, divisions, and subsidiaries and predecessor and successor
corporations and assigns (collectively, the “Releasees”). Executive, on Executive’s own behalf and on behalf of any of Executive’s affiliated companies or entities and any of Executive’s or their respective heirs,
family members, executors, agents, and assigns, other than with respect to the Retained Claims, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim,
complaint, charge, duty, obligation, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts,
facts, or damages that have occurred up until and including the date Executive signs this Agreement, including, without limitation: 
 (a)
any and all claims relating to or arising from Executive’s employment or service relationship with the Company or any of its direct or indirect subsidiaries or affiliates and the termination of that relationship; 

(b) any and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of any shares of stock or other
equity interests of the Company or any of its affiliates, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state law, and securities fraud under any state or federal
law; 
 (c) any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment;
retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional
misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment;
conversion; and disability benefits; 
 (d) any and all claims for violation of any federal, state, or municipal statute, including, but not
limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standard Act; the Fair Credit Reporting Act; the Age
Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; and the Sarbanes-Oxley
Act of 2002; 
 (e) any and all claims for violation of the federal or any state constitution; 

(f) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; 

(g) any claim for any loss, cost, damage, or expense arising out of any dispute over the
non-withholding or other tax treatment of any of the proceeds received by Executive as a result of this Agreement; 

(h) any and all claims arising out of the wage and hour and wage payments laws and regulations of the state or states in which Executive has
provided service to the Company or any of its affiliates (including without limitation the Massachusetts Payment of Wages Law); and 
 (i)
any and all claims for attorneys’ fees and costs. 

  
 A-2 

 Executive agrees that the release set forth in this section shall be and remain in effect in all respects as
a complete general release as to the matters released. This release does not release claims that cannot be released as a matter of law, including, but not limited to, Executive’s right to report possible violations of federal law or regulation
to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower
protection provisions of state or federal law or regulation (including Executive’s right to receive an award for information provided to any such government agencies), Executive’s right to file a charge with or participate in a charge by
the Equal Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company (with the understanding that
Executive’s release of claims herein bars Executive from recovering monetary or other individual relief from the Company or any Releasee in connection with any charge, investigation or proceeding, or any related complaint or lawsuit, filed by
Executive or by anyone else on Executive’s behalf before the federal Equal Employment Opportunity Commission or a comparable state or local agency), claims for unemployment compensation or any state disability insurance benefits pursuant to the
terms of applicable state law, claims to continued participation in certain of the Company’s group benefit plans pursuant to the terms and conditions of COBRA, claims to any benefit entitlements vested as the date of separation of
Executive’s employment, pursuant to written terms of any employee benefit plan of the Company or its affiliates and Executive’s right under applicable law, and any Retained Claims. This release further does not release claims for breach of
Section 3(c), Section 4(b) or Section 4(c) of the Employment Agreement. 
 3. Acknowledgment of Waiver of Claims under
ADEA. Executive understands and acknowledges that Executive is waiving and releasing any rights Executive may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and
voluntary. Executive understands and agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the date Executive signs this Agreement. Executive understands and acknowledges that the
consideration given for this waiver and release is in addition to anything of value to which Executive was already entitled. Executive further understands and acknowledges that Executive has been advised by this writing that: (a) Executive
should consult with an attorney prior to executing this Agreement; (b) Executive has 21 days within which to consider this Agreement, and the Parties expressly agree that such time period to review this Agreement shall not be extended upon any
material or immaterial changes to this Agreement; (c) Executive has seven business days following Executive’s execution of this Agreement to revoke this Agreement pursuant to written notice to the General Counsel of the Company;
(d) this Agreement shall not be effective until after the revocation period has expired; and (e) nothing in this Agreement prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this
waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement and returns it to the Company in less than the 21 day
period identified above, Executive hereby acknowledges that Executive has freely and voluntarily chosen to waive the time period allotted for considering this Agreement. 

  
 A-3 

 4. Post-Termination Obligations. Executive reaffirms Executive’s continuing
obligations under the Proprietary Information Agreement between Executive and the Company dated as of [_________], and, without limiting the foregoing, Executive remakes the non-competition covenants set forth
in the Proprietary Information Agreement as if set forth herein. In addition, Executive agrees to refrain from Disparaging (as defined below) the Company and its affiliates, including their respective services, technologies, practices, directors and
officers. The Company agrees to instruct its officers and directors to refrain from Disparaging Executive. Nothing in this Section shall preclude any Party from making truthful statements that are reasonably necessary to comply with applicable law,
regulation or legal process, or to defend or enforce a Party’s rights under this Agreement or the Employment Agreement. For purposes of this Agreement, “Disparaging” means making remarks, comments or statements, whether written or
oral, that impugn the character, integrity, reputation or abilities of the individual or entity being disparaged. 
 5. Severability.
In the event that any provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement
shall continue in full force and effect without said provision or portion of provision. 
 6 No Oral Modification. This Agreement may
only be amended in a writing signed by Executive and a duly authorized officer of the Company. 
 7. Governing Law; Dispute
Resolution. This Agreement shall be subject to the provisions of Sections 9(a), 9(c) and 9(i) of the Employment Agreement.  
 8.
Effective Date. Executive has seven business days after Executive signs this Agreement to revoke it and this Agreement will become effective upon the expiration of such seven business day period, so long as it has been signed by the Parties
and has not been revoked by Executive before that date. 
 9. Trade Secrets; Whistleblower Protections. In accordance with 18 U.S.C.
§1833, notwithstanding anything to the contrary in this Agreement, the Employment Agreement, the Proprietary Information Agreement or any other agreement between Executive and the Company or any of its subsidiaries in effect as of the date
Executive receives this Agreement (together, the “Subject Documents”): (a) Executive will not be in breach of the Subject Documents, and shall not be held criminally or civilly liable under any federal or state trade secret law
(i) for the disclosure of a trade secret that is made in confidence to a federal, state, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) for the
disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; and (b) if Executive files a lawsuit for retaliation by the Company for reporting a suspected
violation of law, Executive may disclose the trade secret to Executive’s attorney, and may use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under seal, and does not disclose
the trade secret, except pursuant to court order. Furthermore, the Parties agree that nothing in the Subject Documents prohibits Executive from reporting possible violations of federal law or regulation to any governmental agency or entity in
accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or
regulation or releases or restrains Executive’s right to receive an award for information provided to any such government agencies. 

  
 A-4 

 10. Voluntary Execution of Agreement. Executive understands and agrees that Executive
executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of Executive’s claims against the Company and any of the other Releasees.
Executive acknowledges that: (a) Executive has read this Agreement; (b) Executive has not relied upon any representations or statements made by the Company that are not specifically set forth in this Agreement; (c) Executive has been
represented in the preparation, negotiation, and execution of this Agreement by legal counsel of Executive’s own choice or has elected not to retain legal counsel; (d) Executive understands the terms and consequences of this Agreement and
of the releases it contains; and (e) Executive is fully aware of the legal and binding effect of this Agreement. 
 [Signature Page
Follows] 

  
 A-5 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set
forth below. 
  

							
	Dated:___________	 		 		 	 
		 		 		 	 Eric D. Shaff

		 		 		 	
			
		 		 	SERES THERAPEUTICS, INC.
				
	Dated:___________	 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

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