Document:

EMPLOYMENT LETTER AGREEMENT WITH ALAN D. WATSON

 Exhibit 10.14 
 December 17, 2007 
 Alan D. Watson, Ph.D., M.B.A. 
 13 Cider Mill Lane 
 Lexington, MA 02421 
 Dear
Dr. Watson: 
 Reference is made to that letter from Elixir Pharmaceuticals, Inc. (“Elixir” or the “Company”) to
you, dated as of June 17, 2002, in which Elixir offered you the full-time position of Executive Vice President and Chief Business Officer (“Prior Letter Agreement”). As you are aware, Elixir has filed a registration statement with the
Securities and Exchange Commission for an initial public offering (“IPO”). In anticipation of our becoming a public company, Elixir is pleased to offer you the opportunity to amend and restate the terms of your employment agreement with
Elixir, as set forth below. If you accept this offer, this letter agreement will supersede the Prior Letter Agreement in its entirety. 
 1.
Your base salary will be at the rate of $11,140.46 per bi-weekly payroll period ($289,652 annually), in accordance with Elixir’s regular payroll practices. All salary and other payments relating to your employment will be reduced by taxes and
other amounts that Elixir is legally required to withhold or that you have authorized Elixir to withhold. 
 2. Your base salary includes the
cost of your participation in the Company’s long and short term disability insurance programs. The premiums for this insurance will be deducted from your bi-weekly payroll payments on an after tax basis. This treatment is necessary to provide
you with an after tax benefit should you receive benefits under either of the disability programs in the future. 
 3. During your
employment, you will be expected to devote your full business time and best professional efforts to the performance of your duties and responsibilities for Elixir. As an Elixir employee you will perform duties assigned to you; comply with directions
given to you; perform your job duties in accordance with Elixir’s policies; abide by all laws and regulations that govern your employment; and use your best efforts to promote the interests of Elixir. You will be eligible for a performance and
salary review during the first quarter of 2008. 
 4. During your employment you will be eligible to participate in all benefit plans,
provided you are eligible, offered by Elixir to employees generally, subject to plan terms, applicable Elixir policies, and any required employee contributions. Benefits may be changed or terminated and new benefits may be added. 

 Letter to Alan D. Watson, Ph.D., M.B.A. 
 Dated December 17, 2007 
 
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 5. Your initial annual bonus target will be 30% of your base salary. The actual amount of your annual
bonus award will be based upon on achievement of Company goals as well as your individual goals as determined by Elixir’s Board of Directors (the “Board”) or a committee thereof. Your bonus will be paid on the date annual bonuses are
paid to other employees provided you remain employed by Elixir at such time. The Board’s or its committee’s assessment of the Company’s and your prior year’s performance will be made during the first calendar quarter of the
following year. 
 6. In connection with your employment, you executed an Employee Non-Disclosure and Developments Agreement and a
Non-Competition and Non-Solicitation Agreement, copies of which are attached to this letter agreement (“Restrictive Covenants”). You hereby represent that you have fully complied with the terms of the Restrictive Covenants. Your further
acknowledge and agree that the Restrictive Covenants shall remain in full force and effect and are hereby incorporated by reference into this letter agreement. In the event you receive Severance Benefits (as defined below) pursuant to this letter
agreement and you fail to comply with any Restrictive Covenant obligation, in addition to any other legal or equitable remedies it may have for such breach or proposed breach, the Company shall have the right to terminate or suspend your Severance
Benefits. The terms of or suspension of your Severance Benefits in the event of such a breach or proposed breach by you will not affect your Restrictive Covenant obligations or any other post-employment obligation arising from this letter agreement
or otherwise. 
 7. You will continue to be employed on an at will basis, meaning your employment may be terminated by you or the Company at
anytime and for any reason, provided that, if your employment is terminated either (1) by the Company for any reason other than for Cause (as defined below) or (2) by you for Good Reason (as defined below), you will be entitled to
(a) severance in the form of continued salary payments (at your annual base salary in effect as of the time of such termination) for twelve (12) months after termination and (b) the monthly premium for your continued group health
insurance coverage under COBRA for the lesser of twelve (12) months or until you are eligible for alternative group health insurance (to the extent you timely elect to continue your group health coverage under COBRA) (collectively,
“Severance Benefits”). The Severance Benefits shall be subject to all applicable federal, state and local payroll and withholding taxes. Our obligation to deliver any Severance Benefits shall be conditioned upon your executing and
returning, within the timeframe set forth in the document that shall not exceed 45 days, a separation agreement and general release in a form acceptable to the Company. The Severance Benefits shall commence on the next regular payroll date following
the effective date of the separation agreement. You hereby authorize the Company to offset any definitive amount owed to the Company as of the date of termination from your final pay or Severance Benefits. You shall not be eligible for Severance
Benefits in the event that your employment is terminated (x) by you for reasons other than Good Reason, (y) by the Company for Cause or (z) by reason of your death or Disability (as defined below). 

 Letter to Alan D. Watson, Ph.D., M.B.A. 
 Dated December 17, 2007 
 
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 For purposes of the preceeding paragraph only, the terms “Cause,” “Good Reason,”
and “Disability” shall be defined as follows. 
 A termination for “Cause” shall mean a termination by the Company for one
or more of the following reasons: (i) the commission by you of a felony, or pleading nolo contendere to a felony, or any other crime or any other violation of law (other than misdemeanors arising out of motor vehicle violations); (ii) your
material breach of the terms of this letter agreement, your Employee Non-Disclosure and Developments Agreement, your Non-Competition and Non-Solicitation Agreement, any other agreement between you and the Company or any of the Company’s
policies, including its Insider Trading Policy and Procedures or Code of Business Conduct and Ethics; (iii) the commission by you of any act of dishonesty, disloyalty, fraud, embezzlement, misappropriation, breach of fiduciary duty or conflict
of interest; (iv) the commission by you of any act that constitutes a violation of the federal or state securities laws; or (v) your continued failure to substantially perform the duties of your position, which remains uncured for the
period of thirty calendar days after your receipt of written notification from the Company of such failure. 
 A termination for “Good
Reason” shall mean your resignation from employment for one or more of the following reasons: (i) the Company’s material breach of the terms of this letter agreement, including the failure of a successor entity to assume the
Company’s obligations under this letter agreement; (ii) a reduction in your base salary, unless such reduction is approved by you or part of a uniform reduction in compensation for all Company executives; (iii) a demotion in your
title as Chief Business Officer; (iv) a substantial diminution in your duties and responsibilities as Chief Business Officer; or (v) the relocation of the Company’s principal corporate office to a location that is 35 miles further
than the distance from your home to the Company’s current location in Cambridge, Massachusetts, without your prior written approval; provided, however, that with respect to each of the conditions described above, you may not
establish “Good Reason” unless you have provided written notice to the Board of the existence of such condition and the Company fails to cure such condition within the thirty day period following receipt of such notice. 
 A “Disability” shall mean any physical incapacity or mental incompetence (x) as a result of which your are unable to substantially perform
your essential duties and responsibilities hereunder for an aggregate of 90 days, whether or not consecutive, in any 180 day period, and (y) which cannot be reasonably accommodated by the Company without undue hardship. 
 8. Anything in this letter agreement to the contrary notwithstanding, if at the time of your termination of employment you are considered a
“specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and if any payment that you become entitled to under this letter agreement would be
considered deferred compensation subject to interest and additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 

 Letter to Alan D. Watson, Ph.D., M.B.A. 
 Dated December 17, 2007 
 
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409A(a)(2)(B)(i) of the Code, then no such payment shall be payable prior to the date that is the earlier of (A) six months after your separation from
service, or (B) your death, and the initial payment shall include a catch-up amount covering amounts that would otherwise have been paid during the first six-month period but for the application of this paragraph 8. By signing below, you
acknowledge that you and the Company intend that this letter agreement will be administered in accordance with Section 409A of the Code. By signing below, you acknowledge that you and the Company agree that this letter agreement may be amended,
as reasonably requested by either you or the Company as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional
cost to either party. 
 9. In the event that any compensation, payment or distribution by Elixir to or for your benefit, whether paid or
payable or distributed or distributable pursuant to the terms of this letter agreement or otherwise (“Severance Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the following provisions shall
apply: 
  

	 	A.	If the Severance Payments, reduced by the sum of (1) the Excise Tax and (2) the total of the federal, state, and local income and employment taxes payable by you on the
amount of the Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, you shall be entitled to all Severance Payments. 

  

	 	B.	If the Threshold Amount is less than (x) the Severance Payments, but greater than (y) the Severance Payments reduced by the sum of (1) the Excise Tax and (2) the
total of the federal, state, and local income and employment taxes on the amount of the Severance Payments which are in excess of the Threshold Amount, then the benefits payable under this letter agreement shall be reduced (but not below zero) to
the extent necessary so that the maximum Severance Payments shall not exceed the Threshold Amount. 

 For purposes of this
letter agreement, “Threshold Amount” shall mean three times your “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated thereunder less one dollar ($1.00); and “Excise
Tax” shall mean the excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by you with respect to such excise tax. The determination as to whether the Severance Payments would be subject to the Excise Tax
and the calculation of any reduction described above shall be made by a nationally recognized accounting firm selected by Elixir (the “Accounting Firm”), which shall provide detailed supporting calculations both to Elixir and you within 15
business days of the date of your termination, if applicable, or at such earlier time as is reasonably requested by Elixir or you. For purposes of such determination, you shall be deemed to pay federal income taxes at the highest marginal rate of
federal income taxation applicable to individuals for the calendar year in which the determination is to be 

 Letter to Alan D. Watson, Ph.D., M.B.A. 
 Dated December 17, 2007 
 
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made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of you residence on the date of your
termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be binding upon Elixir and you. 
 10. This offer is conditioned on your representation that you were not at the time you joined Elixir, and continue not to be, subject to any
confidentiality, noncompetition agreement or any other similar type of restriction that may affect your ability to devote full time and attention to your work at Elixir. 
 11. Our offer in this letter agreement and your acceptance thereof are not meant to be a contract of employment for a specific term. This means that, after signing below, you will retain the right to terminate your
employment at any time and Elixir will also retain that right, as well as the right to modify your compensation, job duties and other terms and conditions of your employment. Thus, nothing in this letter agreement affects your status as an at-will
employee. 

 In signing this letter agreement you acknowledge and agree that this is the complete agreement between
you and the Company with respect to the subject matter addressed in this letter agreement. You are not relying on any promises or understandings with respect to your employment that are not set forth expressly in this letter agreement, including
without limitation any promises or understandings implied through the course of dealing or otherwise between you and Elixir during your employment through the date hereof. Further, you acknowledge and agree that this letter agreement supersedes all
prior agreements between the parties including the Prior Letter Agreement, except that this letter agreement shall have no effect on any agreement related to any option or other equity award granted to you prior to the effective date of this letter
agreement or on any agreement related to your ethical or conduct obligations. 
 If the terms of this letter agreement are acceptable to you,
please sign and return it to me at your earliest convenience. 
  

			
	Very Truly Yours,
		
	By:	 	/s/ William K. Heiden
	Name:	 	William K. Heiden
	Title:	 	CEO & President
	
	Accepted and Agreed.

  

									
	Name:	 	/s/ Alan D. Watson	 		 		 	                Date: December 17, 2007
		 	Alan D. Watson, Ph.D., M.B.A.FORM OF INDEMNIFICATION AGREEMENT

 Exhibit 10.19 
 INDEMNIFICATION AGREEMENT 
 This Agreement made and entered into this ____ day of ______, (the
“Agreement”), by and between Elixir Pharmaceuticals, Inc., a Delaware corporation (the “Company,” which term shall include, where appropriate, any Entity (as hereinafter defined) controlled directly or indirectly by the Company)
and ____________ (the “Indemnitee”): 
 WHEREAS, it is essential to the Company that it be able to retain and attract as directors
the most capable persons available; 
 WHEREAS, increased corporate litigation has subjected directors to litigation risks and expenses, and
the limitations on the availability of directors and officers liability insurance have made it increasingly difficult for the Company to attract and retain such persons; 
 WHEREAS, the Company’s By-laws (“By-laws”) require it to indemnify its directors to the fullest extent permitted by law and permit it to make other indemnification arrangements and agreements;

 WHEREAS, the Company desires to provide Indemnitee with specific contractual assurance of Indemnitee’s rights to full indemnification
against litigation risks and expenses (regardless, among other things, of any amendment to or revocation of the By-laws or any change in the ownership of the Company or the composition of its Board of Directors); 
 WHEREAS, the Company intends that this Agreement provide Indemnitee with greater protection than that which is provided by the Company’s By-laws;
and 
 WHEREAS, Indemnitee is relying upon the rights afforded under this Agreement in becoming or continuing as a director or officer of the
Company. 
 NOW, THEREFORE, in consideration of the promises and the covenants contained herein, the Company and Indemnitee do hereby
covenant and agree as follows: 
 1. Definitions. 
 (a) “Corporate Status” describes the status of a person who is serving or has served (i) as a director or officer of the
Company, (ii) in any capacity with respect to any employee benefit plan of the Company, or (iii) as a director, partner, trustee, officer, employee, or agent of any other Entity at the request of the Company. For purposes of subsection
(iii) of this Section 1(a), if Indemnitee is serving or has served as a director, partner, trustee, officer, employee or agent of a Subsidiary, Indemnitee shall be deemed to be serving at the request of the Company. 
 (b) “Entity” shall mean any corporation, partnership, limited liability company, joint venture, trust, foundation, association,
organization or other legal entity. 

 (c) “Expenses” shall mean all fees, costs and expenses incurred by Indemnitee
in connection with any Proceeding (as defined below), including, without limitation, attorneys’ fees, disbursements and retainers (including, without limitation, any such fees, disbursements and retainers incurred by Indemnitee pursuant to
Sections 11 and 12(c) of this Agreement), fees and disbursements of expert witnesses, private investigators and professional advisors (including, without limitation, accountants and investment bankers), court costs, transcript costs, fees of
experts, travel expenses, duplicating, printing and binding costs, telephone and fax transmission charges, postage, delivery services, secretarial services, and other disbursements and expenses. 
 (d) “Indemnifiable Expenses,” “Indemnifiable Liabilities” and “Indemnifiable Amounts” shall have the
meanings ascribed to those terms in Section 3(a) below. 
 (e) “Liabilities” shall mean judgments, damages,
liabilities, losses, penalties, excise taxes, fines and amounts paid in settlement. 
 (f) “Proceeding” shall mean
any threatened, pending or completed claim, action, suit, arbitration, alternate dispute resolution process, investigation, administrative hearing, appeal, or any other proceeding, whether civil, criminal, administrative, arbitrative or
investigative, whether formal or informal, including a proceeding initiated by Indemnitee pursuant to Section 11 of this Agreement to enforce Indemnitee’s rights hereunder. 
 (g) “Subsidiary” shall mean any corporation, partnership, limited liability company, joint venture, trust or other Entity of
which the Company owns (either directly or through or together with another Subsidiary of the Company) either (i) a general partner, managing member or other similar interest or (ii) (A) 50% or more of the voting power of the voting
capital equity interests of such corporation, partnership, limited liability company, joint venture or other Entity, or (B) 50% or more of the outstanding voting capital stock or other voting equity interests of such corporation, partnership,
limited liability company, joint venture or other Entity. 
 2. Services of Indemnitee. In consideration of the Company’s
covenants and commitments hereunder, Indemnitee agrees to serve or continue to serve as a director or officer of the Company. However, this Agreement shall not impose any obligation on Indemnitee or the Company to continue Indemnitee’s service
to the Company beyond any period otherwise required by law or by other agreements or commitments of the parties, if any. 
 3. Agreement
to Indemnify. The Company agrees to indemnify Indemnitee as follows: 
 (a) Proceedings Other Than By or In the Right of
the Company. Subject to the exceptions contained in Section 4(a) below, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding (other than an action by or in the right of the Company) by reason of
Indemnitee’s Corporate Status, Indemnitee shall be indemnified by the Company against all Expenses and Liabilities incurred or paid by Indemnitee in connection with such Proceeding (referred to herein as “Indemnifiable Expenses” and
“Indemnifiable Liabilities,” respectively, and collectively as “Indemnifiable Amounts”). 
  

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 (b) Proceedings By or In the Right of the Company. Subject to the exceptions contained in
Section 4(b) below, if Indemnitee was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company by reason of Indemnitee’s Corporate Status, Indemnitee shall be indemnified by the Company against
all Indemnifiable Expenses. 
 (c) Conclusive Presumption Regarding Standard of Care. In making any determination
required to be made under Delaware law with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee
submitted a request therefor in accordance with Section 5 of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity of any determination
contrary to that presumption. 
 4. Exceptions to Indemnification. Indemnitee shall be entitled to indemnification under
Sections 3(a) and 3(b) above in all circumstances other than with respect to any specific claim, issue or matter involved in the Proceeding out of which Indemnitee’s claim for indemnification has arisen, as follows: 
 (a) Proceedings Other Than By or In the Right of the Company. If indemnification is requested under Section 3(a) and it has been
finally adjudicated by a court of competent jurisdiction that, in connection with such specific claim, issue or matter, Indemnitee failed to act (i) in good faith and (ii) in a manner Indemnitee reasonably believed to be in or not opposed
to the best interests of the Company, or, with respect to any criminal Proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful, Indemnitee shall not be entitled to payment of Indemnifiable Amounts
hereunder. 
 (b) Proceedings By or In the Right of the Company. If indemnification is requested under Section 3(b) and

 (i) it has been finally adjudicated by a court of competent jurisdiction that, in connection with such specific claim,
issue or matter, Indemnitee failed to act (A) in good faith and (B) in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, Indemnitee shall not be entitled to payment of Indemnifiable
Expenses hereunder; or 
 (ii) it has been finally adjudicated by a court of competent jurisdiction that Indemnitee is liable
to the Company with respect to such specific claim, Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder with respect to such claim, issue or matter unless the Court of Chancery or another court in which such Proceeding
was brought shall determine upon application that, despite the adjudication of liability, but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification for such Indemnifiable Expenses which such
court shall deem proper; or 
  

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 (iii) it has been finally adjudicated by a court of competent jurisdiction that
Indemnitee is liable to the Company for an accounting of profits made from the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, the rules and
regulations promulgated thereunder and amendments thereto or similar provisions of any federal, state or local statutory law, Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder. 
 (c) Insurance Proceeds. To the extent payment is actually made to the Indemnitee under a valid and collectible insurance policy in
respect of Indemnifiable Amounts in connection with such specific claim, issue or matter, Indemnitee shall not be entitled to payment of Indemnifiable Amounts hereunder except in respect of any excess beyond the amount of payment under such
insurance. 
 5. Procedure for Payment of Indemnifiable Amounts. Indemnitee shall submit to the Company a written request specifying
the Indemnifiable Amounts for which Indemnitee seeks payment under Section 3 of this Agreement and the basis for the claim. The Company shall pay such Indemnifiable Amounts to Indemnitee promptly upon receipt of its request. At the request of
the Company, Indemnitee shall furnish such documentation and information as are reasonably available to Indemnitee and necessary to establish that Indemnitee is entitled to indemnification hereunder. 
 6. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, and without
limiting any such provision, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be indemnified against all Expenses
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or
matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with each successfully resolved claim, issue or matter. For purposes of this
Agreement, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, by reason of settlement, judgment, order or otherwise, shall be deemed to be a successful result as to such claim, issue or
matter. 
 7. Effect of Certain Resolutions. Neither the settlement or termination of any Proceeding nor the failure of the Company to
award indemnification or to determine that indemnification is payable shall create a presumption that Indemnitee is not entitled to indemnification hereunder. In addition, the termination of any proceeding by judgment, order, settlement, conviction,
or upon a plea of nolo contendere or its equivalent shall not create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with
respect to any criminal Proceeding, had reasonable cause to believe that Indemnitee’s action was unlawful. 
 8. Agreement to Advance
Expenses; Undertaking. The Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding, including a Proceeding by or in the right of the Company, in which Indemnitee is involved by reason of such
Indemnitee’s Corporate Status within ten (10) calendar days after the receipt by the Company of a written statement from Indemnitee requesting such advance or advances from time to time, 

  

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whether prior to or after final disposition of such Proceeding. To the extent required by Delaware law, Indemnitee hereby undertakes to repay any and all of
the amount of Indemnifiable Expenses paid to Indemnitee if it is finally determined by a court of competent jurisdiction that Indemnitee is not entitled under this Agreement to indemnification with respect to such Expenses. This undertaking is an
unlimited general obligation of Indemnitee. 
 9. Procedure for Advance Payment of Expenses. Indemnitee shall submit to the Company a
written request specifying the Indemnifiable Expenses for which Indemnitee seeks an advancement under Section 8 of this Agreement, together with documentation evidencing that Indemnitee has incurred such Indemnifiable Expenses. Payment of
Indemnifiable Expenses under Section 8 shall be made no later than ten (10) calendar days after the Company’s receipt of such request. 
 10. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding to which
Indemnitee is not a party, he shall be indemnified against all Expenses actually and reasonably by incurred by him or on his behalf in connection therewith. 
 11. Remedies of Indemnitee. 
 (a) Right to Petition Court. In the event that
Indemnitee makes a request for payment of Indemnifiable Amounts under Sections 3 and 5 above or a request for an advancement of Indemnifiable Expenses under Sections 8 and 9 above and the Company fails to make such payment or advancement
in a timely manner pursuant to the terms of this Agreement, Indemnitee may petition the Court of Chancery to enforce the Company’s obligations under this Agreement. 
 (b) Burden of Proof. In any judicial proceeding brought under Section 11(a) above, the Company shall have the burden of
proving that Indemnitee is not entitled to payment of Indemnifiable Amounts hereunder. 
 (c) Expenses. The Company
agrees to reimburse Indemnitee in full for any Expenses incurred by Indemnitee in connection with investigating, preparing for, litigating, defending or settling any action brought by Indemnitee under Section 11(a) above, or in connection with
any claim or counterclaim brought by the Company in connection therewith, whether or not Indemnitee is successful in whole or in part in connection with any such action. 
 (d) Failure to Act Not a Defense. The failure of the Company (including its Board of Directors or any committee thereof,
independent legal counsel, or stockholders) to make a determination concerning the permissibility of the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses under this Agreement shall not be a defense in any action brought
under Section 11(a) above, and shall not create a presumption that such payment or advancement is not permissible. 
  

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 12. Defense of the Underlying Proceeding. 
 (a) Notice by Indemnitee. Indemnitee agrees to notify the Company promptly upon being served with any summons, citation, subpoena,
complaint, indictment, information, or other document relating to any Proceeding which may result in the payment of Indemnifiable Amounts or the advancement of Indemnifiable Expenses hereunder; provided, however, that the failure to give any such
notice shall not disqualify Indemnitee from the right, or otherwise affect in any manner any right of Indemnitee, to receive payments of Indemnifiable Amounts or advancements of Indemnifiable Expenses unless the Company’s ability to defend in
such Proceeding is materially and adversely prejudiced thereby. 
 (b) Defense by Company. Subject to the provisions of
the last sentence of this Section 12(b) and of Section 12(c) below, the Company shall have the right to defend Indemnitee in any Proceeding which may give rise to the payment of Indemnifiable Amounts hereunder; provided, however that the
Company shall notify Indemnitee of any such decision to defend within ten (10) calendar days of receipt of notice of any such Proceeding under Section 12(a) above. The Company shall not, without the prior written consent of Indemnitee,
consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) includes an admission of fault of Indemnitee or (ii) does not include, as an unconditional term thereof, the full release of
Indemnitee from all liability in respect of such Proceeding, which release shall be in form and substance reasonably satisfactory to Indemnitee. This Section 12(b) shall not apply to a Proceeding brought by Indemnitee under Section 11(a)
above or pursuant to Section 20 below. 
 (c) Indemnitee’s Right to Counsel. Notwithstanding the provisions
of Section 12(b) above, if in a Proceeding to which Indemnitee is a party by reason of Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes that he or she may have separate defenses or counterclaims to assert with
respect to any issue which may not be consistent with the position of other defendants in such Proceeding, (ii) a conflict of interest or potential conflict of interest exists between Indemnitee and the Company, or (iii) if the Company
fails to assume the defense of such proceeding in a timely manner, Indemnitee shall be entitled to be represented by separate legal counsel of Indemnitee’s choice at the expense of the Company. In addition, if the Company fails to comply with
any of its obligations under this Agreement or in the event that the Company or any other person takes any action to declare this Agreement void or unenforceable, or institutes any action, suit or proceeding to deny or to recover from Indemnitee the
benefits intended to be provided to Indemnitee hereunder, Indemnitee shall have the right to retain counsel of Indemnitee’s choice, at the expense of the Company, to represent Indemnitee in connection with any such matter. 
 13. Representations and Warranties of the Company. The Company hereby represents and warrants to Indemnitee as follows: 
 (a) Authority. The Company has all necessary power and authority to enter into, and be bound by the terms of, this Agreement, and
the execution, delivery and performance of the undertakings contemplated by this Agreement have been duly authorized by the Company. 
 (b) Enforceability. This Agreement, when executed and delivered by the Company in accordance with the provisions hereof, shall be a legal, valid and binding obligation of the Company, enforceable against the Company in accordance
with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the enforcement of creditors’ rights generally. 
  

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 14. Insurance. The Company shall, from time to time, make the good faith determination whether or
not it is practicable for the Company to obtain and maintain a policy or policies of insurance with a reputable insurance company providing the Indemnitee with coverage for losses from wrongful acts. For so long as Indemnitee shall remain a director
or officer of the Company and with respect to any such prior service, in all policies of director and officer liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are
accorded to the most favorably insured of the Company’s officers and directors. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance
is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, or if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit. The
Company shall promptly notify Indemnitee of any good faith determination not to provide such coverage. 
 15. Contract Rights Not
Exclusive. The rights to payment of Indemnifiable Amounts and advancement of Indemnifiable Expenses provided by this Agreement shall be in addition to, but not exclusive of, any other rights which Indemnitee may have at any time under applicable
law, the Company’s Certificate of Incorporation or By-laws, or any other agreement, vote of stockholders or directors (or a committee of directors), or otherwise, both as to action in Indemnitee’s official capacity and as to action in any
other capacity as a result of Indemnitee’s serving as a director or officer of the Company. 
 16. Successors. This Agreement
shall be (a) binding upon all successors and assigns of the Company (including any transferee of all or a substantial portion of the business, stock and/or assets of the Company and any direct or indirect successor by merger or consolidation or
otherwise by operation of law) and (b) binding on and shall inure to the benefit of the heirs, personal representatives, executors and administrators of Indemnitee. This Agreement shall continue for the benefit of Indemnitee and such heirs,
personal representatives, executors and administrators after Indemnitee has ceased to have Corporate Status. 
 17. Subrogation. In
the event of any payment of Indemnifiable Amounts under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of contribution or recovery of Indemnitee against other persons, and Indemnitee shall take, at
the request of the Company, all reasonable action necessary to secure such rights, including the execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 
 18. Change in Law. To the extent that a change in Delaware law (whether by statute or judicial decision) shall permit broader indemnification or
advancement of expenses than is provided under the terms of the By-laws and this Agreement, Indemnitee shall be entitled to such broader indemnification and advancements, and this Agreement shall be deemed to be amended to such extent. 

19. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under
applicable law, but if any provision of this Agreement, or any clause thereof, shall be determined by a court of competent jurisdiction to be illegal, invalid or unenforceable, in whole or in part, such provision or clause shall be limited or
modified in its application to the minimum extent necessary to make such provision or clause valid, legal and enforceable, and the remaining provisions and clauses of this Agreement shall remain fully enforceable and binding on the parties.

  

 7 

 20. Indemnitee as Plaintiff. Except as provided in Section 10(c) of this Agreement and in the
next sentence, Indemnitee shall not be entitled to payment of Indemnifiable Amounts or advancement of Indemnifiable Expenses with respect to any Proceeding brought by Indemnitee against the Company, any Entity which it controls, any director or
officer thereof, or any third party, unless the Board of Directors of the Company has consented to the initiation of such Proceeding. This Section shall not apply to counterclaims or affirmative defenses asserted by Indemnitee in an action brought
against Indemnitee. 
 21. Modifications and Waiver. Except as provided in Section 18 above with respect to changes in Delaware
law which broaden the right of Indemnitee to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto. No waiver of any of the provisions of
this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement (whether or not similar), nor shall such waiver constitute a continuing waiver. 
 22. General Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly
given (a) when delivered by hand, (b) when transmitted by facsimile and receipt is acknowledged, or (c) if mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:

  

	 	(a)	If to Indemnitee, to: 

	 	    	_____________________ 

  

	 	    	_____________________ 

  

	 	    	_____________________ 

  

	 	    	_____________________ 

  

	 	(b)	If to the Company, to: 

  

	 	    	Elixir Pharmaceuticals, Inc. 

	 	    	12 Emily St. 

	 	    	Cambridge, MA 02139 

	 	    	Attn: Corporate Secretary 

 or to such other address as may have been
furnished in the same manner by any party to the others. 
 23. Governing Law; Consent to Jurisdiction; Service of Process. This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without regard to its rules of conflict of laws. Each of the Company and the Indemnitee hereby 

  

 8 

 
irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the Court of Chancery of the State of Delaware and the courts of the
United States of America located in the State of Delaware (the “Delaware Courts”) for any litigation arising out of or relating to this Agreement and the transactions contemplated hereby (and agrees not to commence any litigation relating
thereto except in such courts), waives any objection to the laying of venue of any such litigation in the Delaware Courts and agrees not to plead or claim in any Delaware Court that such litigation brought therein has been brought in an inconvenient
forum. Each of the parties hereto agrees, (a) to the extent such party is not otherwise subject to service of process in the State of Delaware, to appoint and maintain an agent in the State of Delaware as such party’s agent for acceptance
of legal process, and (b) that service of process may also be made on such party by prepaid certified mail with a proof of mailing receipt validated by the United States Postal Service constituting evidence of valid service. Service made
pursuant to (a) or (b) above shall have the same legal force and effect as if served upon such party personally within the State of Delaware. For purposes of implementing the parties’ agreement to appoint and maintain an agent for
service of process in the State of Delaware, each such party does hereby appoint The Corporation Trust Company, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801, as such agent and each such party hereby agrees to complete all
actions necessary for such appointment. 
 [signature page follows] 
  

 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above
written. 
  

			
	ELIXIR PHARMACEUTICALS, INC.
		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	INDEMNITEE

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