Document:

EX-10.7

 Exhibit 10.7 

PHATHOM PHARMACEUTICALS, INC. 

May 7, 2019 
 Tadataka Yamada 

 

	 	Re:	 Phathom Pharmaceuticals, Inc. Board of Directors 

Dear Tachi, 
 It
is my sincere pleasure to memorialize your position on the Board of Directors (the “Board”) of Phathom Pharmaceuticals, Inc. (the “Company”) as Chairman of the Board. 

As the Chairman of the Board, you will perform advisory duties customarily associated with the position, participate in
regularly scheduled and special Board meetings, participate in conference calls of the Board, meet or otherwise periodically confer with Board members, committees of the Board and Company executives, and provide assistance to the Company’s
executive team with occasional meetings, site visits, conference calls and advice on an as-needed basis (the “Services”). 

Commencing as of the date of this letter, you will paid an annual cash fee of $100,000, paid quarterly, for your services as
Chairman. Moreover, as a member of the Board, the Company will reimburse you for reasonable travel and other expenses to attend Board meetings and other Board-related functions (such as site visits). 

You will serve as the Chairman of the Board until the earlier of your resignation, removal from the Board or death, or your
successor as Chairman of the Board is duly appointed by the Board. You may be removed from the Board at any time in accordance with terms of the Company’s Bylaws. You will not be an employee or agent of the Company. You will not be eligible for
any employee benefits. Any taxes shall be solely your responsibility. 
 In your capacity as a director of the Company, you
will be expected not to use or disclose any confidential information, including, but not limited to, trade secrets of any current or former employer or other person or entity to whom you have an obligation of confidentiality. Rather, you will be
expected to use only information that is generally known and used by persons with training and experience comparable to your own, that is common knowledge in the industry or otherwise legally in the public domain, or that is otherwise provided by
the Company. You acknowledge that as a result of the Services, you will obtain confidential information and proprietary information relating to or provided by the Company and its affiliates. During and after your service with the Company, you shall
not use for your benefit or disclose confidential information, proprietary information, knowledge or data relating to or provided by the Company and its affiliates; provided, however, that, except as provided under applicable law, this obligation
shall not apply to information that (a) was publicly known and available in the public domain at the time of disclosure, or later becomes publicly known and available in the public domain other than through your failure to keep such information
confidential, (b) was in your possession at the time of disclosure or is provided to you by a third party, in each case without duty of confidentiality, (c) was independently developed by you without incorporating or using Company
information or resources, as demonstrated by records contemporaneously maintained, or (d) is disclosed with the express consent of the Company. Any proprietary inventions or other intellectual property rights that you may develop (including,
but not limited to, patents, copyrights, trademarks, trade secrets, technology, contract and licensing rights, business plans or other proprietary rights), either alone or jointly with others, during the course of performing the Services for the
Company is assigned by you to the Company and you agree to execute, when requested, such 

 
additional documentation deemed necessary by the Company to assign all rights, title and interest to such inventions or property. You also represent and warrant that you have the full right and
power to enter into and perform this letter agreement and there is no other existing contract or duty on your part inconsistent with the terms of this letter agreement (including, but not limited to, any conflict of interest policy). Additionally,
as a reminder, as a member of the Board, you will have fiduciary duties to the Company and its members. 
 Notwithstanding
the foregoing, pursuant to 18 U.S.C. Section 1833(b), you shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that: (a) is made in confidence to a Federal, State,
or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. 
 To avoid conflicts of interest, it is expected that directors will
disclose any personal interest they may have in a transaction that the Board considers or in which the Company otherwise is a party. Directors shall recuse themselves from participation in any decision in which there is a conflict between their
personal interests and the interests of the Company. Any such “related party transaction” involving a director must be reviewed and approved by the Board (or a committee designated by the Board). 

This letter constitutes the entire agreement between you and the Company. This agreement supersedes any other agreements or
promises made to you by anyone, whether oral or written, and it may only be modified in a writing signed by a duly authorized officer of the Company. This agreement shall be construed and enforced in accordance with the laws of the State of
Washington without regard to conflicts of law principles. 
  

			
	 Sincerely,

	
	 PHATHOM PHARMACEUTICALS, INC.

		
	 By:
	 	 /s/ David Socks

		 	 David Socks, Chief Executive Officer

	
	 ACKNOWLEDGED AND AGREED:

	
	 /s/ Tadataka Yamada

	 Tadataka YamadaEX-10.8

 Exhibit 10.8 

PHATHOM PHARMACEUTICALS, INC. 

July 21, 2019 
 David Socks 

Re: Employment Offer Letter 
 Dear David:

 Phathom Pharmaceuticals, Inc. (the “Company”) is pleased to offer you a position on the terms set
forth in this letter (this “Agreement”) effective as of May 7, 2019. 

•    DUTIES. You shall serve and shall perform
such duties as are customarily associated with the positions of President, Chief Executive Officer, Treasurer and Secretary and shall report to the Board of Directors of the Company (the “Board”). This is an exempt
position. You shall devote at least eighty percent (80%) of your full working time and attention to the business affairs of the Company. 

•    COMPENSATION. Your initial compensation will be as follows: 

 

	 	•	 	 BASE SALARY. You will receive an annual base salary of $340,000 for all
hours worked, less taxes, authorized withholdings and other legally required deductions. You will be paid in accordance with the Company’s customary payroll procedures as established and modified from time-to-time. 

  

	 	•	 	 ANNUAL BONUS. In addition to your base
salary, you may be eligible to earn, for each fiscal year of the Company ending during the term of your employment with the Company, an annual cash performance bonus under the Company’s bonus plan, as approved from time to time by the Board.
Your maximum annual bonus will be fifty percent (50%) of your base salary actually paid for the year to which such annual bonus relates. Your actual annual bonus will be determined on the basis of your and/or the Company’s attainment of
financial or other performance criteria established by the Board or its designee in accordance with the terms and conditions of such bonus plan. You must be employed by the Company on the date of payment of such annual bonus in order to be eligible
to receive such annual bonus. You hereby acknowledge and agree that nothing contained herein confers upon you any right to an annual bonus in any year, and that whether the Company pays you an annual bonus and the amount of any such annual bonus
will be determined by the Company in its sole discretion. 

  

	 	•	 	 BENEFITS. You shall be eligible to participate in all of
the employee benefit plans or programs the Company generally makes available to similarly situated employees, pursuant to the terms and conditions of such plans. You will also be entitled to vacation and/or paid time off each year in accordance with
Company policy and all holidays observed by the Company each year. The Company reserves the right to change compensation and benefits provided to its employees from time to time in its discretion. 

  
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	 	•	 	 WITHHOLDING. All amounts payable to you will be subject to
appropriate payroll deductions and withholdings. 

•    EXPENSES. You will be entitled to reimbursement for all ordinary and
reasonable out-of-pocket business expenses which are reasonably incurred by you in furtherance of the Company’s business, with appropriate documentation and in
accordance with the Company’s standard policies. 
 •    COMPANY
POLICIES AND PROPRIETARY INFORMATION AND INVENTIONS ASSIGNMENT AGREEMENT. As an employee of the Company, you shall be
expected to abide by all of the Company’s policies and procedures and the Company’s employee handbook, if any. As a condition of your employment, you agree to execute and abide by the terms of the Company’s form of the Proprietary
Information and Inventions Assignment Agreement, which shall survive termination of your employment with the Company and the termination of this Proprietary Information and Inventions Assignment Agreement. You acknowledge that a remedy at law for
any breach or threatened breach by you of the provisions of the Proprietary Information and Inventions Assignment Agreement would be inadequate, and you therefore agree that the Company shall be entitled to injunctive relief in case of any such
breach or threatened breach. The Company may modify, revoke, suspend or terminate any of the terms, plans, policies and/or procedures described in the employee handbook, if any, or as otherwise communicated to you, in whole or part, at any time,
with or without notice. 
 •    EMPLOYMENT
TERMS. As a condition to your employment with the Company, you are required to (a) sign and return a satisfactory I-9 Immigration form providing sufficient
documentation establishing your employment eligibility in the United States, and (b) provide satisfactory proof of your identity as required by United States law. 

•    OTHER AGREEMENTS. You represent and agree that your
performance of your duties for the Company shall not violate any agreements, obligations or understandings that you may have with any third party or prior employer. Without limiting the foregoing, you represent and agree that you are not bound by
any non-compete or non-solicitation agreement or any other type of agreement that would prohibit your employment with the Company. You agree not to make any unauthorized
disclosure or use, on behalf of the Company, of any confidential information belonging to any of your former employers. You also represent that you are not in unauthorized possession of any materials containing a third party’s confidential and
proprietary information. While employed by the Company, you will not engage in any business activity in competition with the Company nor make preparations to do so. In the event that you wish to undertake a business activity outside the scope of
your employment by the Company, which activity you believe entails no conflict with the Company’s activities, you agree to inform the Company of your intentions before the initiation of such outside business activity, and you furthermore agree
to abide by the Company’s decision as to whether or not there is no conflict. If, in the Company’s sole determination, a conflict exists or is likely to develop, you agree not to undertake such outside business activity. Notwithstanding
the foregoing, the Company expressly acknowledges and agrees to your continued services to Frazier Healthcare Partners and further acknowledges and agrees that such continued services will not violate the terms of this Agreement. 

•    AT-WILL
EMPLOYMENT. Your employment with the Company will be “at-will” at all times, including after your introductory, probationary period, meaning that either you or the Company will be
entitled to terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this offer. This Agreement in no way represents a fixed-term employment
contract. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time,
the “at will” nature of 

  
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your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company. 

•    NON-INTERFERENCE.
While employed by the Company, and for one (1) year immediately following the date on which you terminate employment or otherwise cease providing services to the Company, you agree not to interfere with the business of the Company by
(a) soliciting or attempting to solicit any employee or consultant of the Company to terminate such employee’s or consultant’s employment or service in order to become an employee, consultant or independent contractor to or for any
other person or entity or (b) soliciting or attempting to solicit any vendor, supplier, customer or other person or entity either directly or indirectly, to direct his, her or its purchase of the Company’s products and/or services to any
person, firm, corporation, institution or other entity in competition with the business of the Company. The foregoing restrictions shall not apply with respect to the bona fide hiring and firing of Company personnel to the extent such acts are part
of your duties for Company. Your duties under this paragraph shall survive termination of your employment with the Company and the termination of this Agreement. 

•    REASONABLENESS OF TERMS. You agree that the
terms contained in the “Other Agreements” and “Non-Interference” paragraphs above are reasonable in all respects and that the restrictions contained therein are designed to protect the
Company against unfair competition. In the event a court determines that any of the terms or provisions of this Agreement are unreasonable, the court may limit the application of any provision or term, or modify any provision or term, and proceed to
enforce this Agreement as so limited or modified. 
 •    GOVERNING
LAW; JURISDICTION AND VENUE. This Agreement, for all purposes, shall be construed in accordance with the laws of the State of California without regard to
conflicts-of-law principles. Any action or proceeding by either party to enforce this Agreement shall be brought only in any state or federal court located in San Diego
County, California. The parties hereby irrevocably submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in such venue. 

•    SEVERABILITY. Whenever possible, each
provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule
in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provisions had never been contained herein. 
 •    SUCCESSORS
AND ASSIGNS. This Agreement is intended to bind and inure to the benefit of and be enforceable by you and the Company, and their respective successors, assigns, heirs, executors and
administrators, except that you may not assign any of your duties hereunder and you may not assign any of your rights hereunder, without the written consent of the Company, which shall not be withheld unreasonably. 

•    ENTIRE AGREEMENT. This Agreement and the Proprietary
Information and Inventions Assignment Agreement constitute the complete, final and exclusive embodiment of the entire agreement between you and the Company with respect to the terms and conditions of your employment specified herein and therein.
This Agreement and the Proprietary Information and Inventions Assignment Agreement supersede any other such promises, obligations, warranties, representations or agreements between you and the Company, including, but not limited to, any previous
offer letters or consulting agreements between you and the Company, or any predecessor thereto, and you agree that any and all such prior promises, obligations, warranties, representations and agreements are hereby terminated. This

  
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Agreement may not be amended or modified except by a written instrument signed by you and a duly authorized officer of the Company. 

If you choose to accept this Agreement under the terms described above, please acknowledge your acceptance of our offer by
returning a signed copy of this letter and the Proprietary Information and Inventions Assignment Agreement to our attention. 
 Sincerely,

 Phathom Pharmaceuticals, Inc. 
  

	
	 /s/ Tadataka Yamada

	 Name: Tadataka Yamada

	 Title: Chairman

 Agreed and Accepted:  

I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set forth above and further
acknowledge and agree that no other commitments were made to me as part of my employment offer except as specifically set forth herein.  
  

							
	 /s/ David Socks
	 		 	 Date:
	 	 July 21, 2019

	 David Socks
	 		 		 	

  

			
	 Attachments:
	  	 Proprietary Information and Inventions Assignment Agreement

  
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