Document:

EX-10.9

 Exhibit 10.9 
  

 
 August 18, 2020 
 Via
Email 
 Michael D. Varney, Ph.D. 
  

	Re:	 Chairman of R&D Agreement 

Dear Dr. Varney: 
 Erasca, Inc. (the
“Company”) is pleased to offer you employment as Chairman of R&D, reporting to Dr. Jonathan Lim. 
 •
DUTIES. In your position as Chairman of R&D, you will have the powers, duties, responsibilities, and accountabilities as set forth below and in the job description for the position, or as may from time to
time be prescribed by the Company’s Chief Executive Officer or the Board of Directors of the Company (the “Board”), provided that such duties are consistent with your position. In your role, you would also act as a
Senior Advisor to the Company’s Chief Executive Officer. You will provide an external scientific review of the Company’s R&D activities and assist management in making significant scientific judgments related to R&D activities and
portfolio through more active engagement in certain strategic and operational meetings. The position is a part-time, exempt position and you will be required to devote at least 10 hours per month of your working time and efforts to the business and
affairs of the Company. 
 In addition to your responsibilities the role of Chairman of R&D, you will also continue to serve as a member
of the Company’s Scientific Advisory Board (“SAB”) pursuant to that certain Scientific Advisory Board Agreement between you and the Company dated as of August 15, 2020 (the “SAB Agreement”).
Please note, however, that if you accept this offer of employment, any compensation paid to you pursuant to the SAB Agreement during the term of your employment will be treated as compensation for employment and subject to all applicable tax
withholding. In addition, this letter agreement will govern the terms and conditions of your employment, and Sections 2, 3 and 4 of the SAB Agreement shall not apply during the term of your employment with the Company. 

Subject to the terms of the Company’s Proprietary Information and Inventions Agreement, as described below, nothing in this letter
agreement will preclude you from serving on third-party boards of directors and scientific advisory boards or similar appointments, as well as engage in consulting and advisory services to third parties, and nothing in this letter agreement is
intended to limit your other business, educational or philanthropic activities, subject to compliance with the Proprietary Information and Inventions Agreement and the SAB Agreement, and provided that such activities do not interfere with your
duties to the Company, as determined in good faith by the Company’s Chief Executive Officer or the Board. 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. 
 • COMPENSATION. 

 

	 	•	 	 BASE SALARY. The Company will pay you a starting base salary
beginning as of your start date at the annual rate of $78,000.00 (based on 10 hours per month commitment, which will be prorated or increased accordingly if the commitment level changes in the future), payable in accordance with the Company’s
standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. During the term of your employment, you will not be eligible for the hourly cash
compensation described in Section 2.2 of the SAB Agreement, and your only cash compensation will be that provided to you as an employee under this letter agreement (as the same may be modified or adjusted in the future). 

	 	•	 	 STOCK OPTIONS. In connection with your service as an SAB
member, the Company has agreed to grant you stock options to purchase 150,000 shares of the Company’s common stock at an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant
(the “SAB Stock Options”). If you accept this offer, in connection with your commencement of employment, the Company will grant you stock options to purchase an additional 100,000 shares of the Company’s common stock at
an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant (the “Employment Stock Options” and together with the SAB Stock Options, the “Stock
Options”). The Stock Options will be granted pursuant to the Company’s equity incentive plan (the “Plan”). The Stock Options are subject to the terms and conditions of the Plan and your stock option
agreements. The Stock Options will vest over the Company’s standard four year vesting schedule, with 25% of the Stock Options vesting on the first anniversary of the vesting commencement date, and the remaining Stock Options vesting in 36 equal
monthly installments thereafter, subject to your continued employment or service to the Company in the applicable role on each such vesting date. 

  

	 	•	 	 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. The Company reserves the right to change compensation and benefits provided to its
employees from time to time in its discretion. 

  

	 	•	 	 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. 
 •
AT-WILL EMPLOYMENT. It is understood that you are an “at-will” employee. You are not being
offered employment for a definite period of time, and either you or the Company may terminate the employment relationship at any time and for any reason, with or without cause or prior notice and without additional compensation to you. Any contrary
representations that may have been made to you are superseded by this letter agreement. Although your job duties, title; reporting relationship, compensation and benefits, as well as the Company’s personnel policies and procedures, may change
from time to time (except as otherwise provided herein), the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company (other than you). 

• COMPANY POLICIES AND PROPRIETARY INFORMATION
AND INVENTIONS AGREEMENT. Like all Company employees, you will be required, as a condition of your employment with the Company, to sign the Company’s standard Proprietary Information and
Inventions Agreement, a copy of which is attached hereto. 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. You acknowledge
that a remedy at law for any breach or threatened breach by you of the provisions of the Proprietary Information and Inventions 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. In the event your employment terminates and you continue to serve as an SAB member, you will continue to be bound by both the terms of the SAB Agreement and the Proprietary Information and Inventions Agreement, the
provisions of which will survive your termination of employment. Notwithstanding the foregoing, or anything contained in the Proprietary Information and Inventions Agreement or the SAB Agreement, you acknowledge that you will not be held criminally
or civilly liable for (a) the disclosure of confidential or proprietary information that is made in confidence to a government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or
(b) disclosure of confidential or proprietary information in a made in a complaint or other document filed in a lawsuit or other proceeding under seal or pursuant to court order. 

  
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 • CONDITIONS TO
EMPLOYMENT. This offer is contingent upon satisfactory proof of your right to work in the United States. You agree to assist as needed and to complete any documentation at the Company’s request to meet these
conditions. The Immigration Reform and Control Act requires employers to verify the employment eligibility and identity of new employees. You will be required to complete a Form 1-9 which will be
provided to you before your start date. Please bring the appropriate documents listed on that form with you when you report for work. We will not be able to employ you if you fail to comply with this requirement. 

• DISPUTE RESOLUTION. Unless otherwise prohibited by law or specified below, all
disputes, claims and causes of action, in law or equity, arising from or relating to this letter agreement or its enforcement, performance, breach, or interpretation shall be resolved solely and exclusively by final and binding arbitration held in
San Diego, California through Judicial Arbitration & Mediation Services/Endispute (“JAMS”) under the then existing JAMS arbitration rules. The rules may be found online at www.jamsadr.com or upon written request to
the Company. This paragraph is intended to be the exclusive method for resolving any and all claims by the parties against each other relating to your employment; provided that you will retain the right to file administrative charges with or
seek relief through any government agency of competent jurisdiction, and to participate in any government investigation, including but not limited to (a) claims for workers’ compensation, state disability insurance or unemployment
insurance; (b) claims for unpaid wages or waiting time penalties brought before the California Division of Labor Standards Enforcement (provided that any appeal from an award or from denial of an award of wages and/or waiting time
penalties shall be arbitrated pursuant to the terms of this paragraph; and (c) claims for administrative relief from the United States Equal Employment Opportunity Commission and/or the California Department of Fair Employment and Housing (or
any similar agency in any applicable jurisdiction other than California); provided, further, that you will not be entitled to obtain any monetary relief through such agencies other than workers’ compensation benefits or
unemployment insurance benefits. Further, nothing in this paragraph is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration, including without
limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction. Seeking any such relief shall not be deemed to be a waiver of
such party’s right to compel arbitration. Each party in any such arbitration shall be responsible for its own attorneys’ fees, costs and necessary disbursement; provided, however, that if one party refuses to arbitrate and the other
party seeks to compel arbitration by court order, if such other party prevails, it shall be entitled to recover reasonable attorneys’ fees, costs and necessary disbursements. Each party warrants that it has had the opportunity to be represented
by counsel in the negotiation and execution of this letter agreement, including the attorneys’ fees provision herein. Both you and the Company expressly waive your right to a jury trial. 

• SEVERABILITY. Whenever possible, each provision of this letter agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this letter 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 letter 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 letter 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. 

• MISCELLANEOUS. This letter agreement, the Proprietary Information and Inventions Agreement and the
SAB Agreement constitute the complete agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements, representations or understandings (whether written, oral or implied)
between you and the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company, although your job, duties, title, reporting relationship,
compensation and benefits may change from time to time. This letter agreement will be governed by and construed in accordance with the laws of the State of California without regard to the conflicts of law provisions thereof. 

  
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 We hope that you will accept our offer to join the Company. You may indicate your agreement with these terms
and accept this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary Information and Inventions Agreement and returning them to me. This offer, if not accepted, will expire at the
close of business on August 20, 2020. Should you accept this offer, your start date of employment will be August 31, 2020 or any other date agreed upon between you and the Company. Should you choose not to accept this offer of employment,
your continuing service as an SAB member pursuant to the SAB Agreement will not be affected. 
 Erasca, Inc. 

 

	
	 /s/ Jonathan Lim

	Name: Jonathan Lim, M.D.
	Title: Chief Executive Officer

 Agreed and Accepted:  

I have read and understood this letter 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 in connection with this letter agreement except as specifically set forth herein.  
  

					
	 /s/ Michael Varney
	 	                        	  	 Date: August 19,
2020                                

	 Michael Varney, Ph.D.
	 		  	

  
 4EX-10.10

 Exhibit 10.10 

ERASCA, INC. 

SCIENTIFIC ADVISORY BOARD AGREEMENT 

THIS SCIENTIFIC ADVISORY BOARD AGREEMENT (this
“Agreement”) is made and entered into as of August 15, 2020 (the “Effective Date”), by and between ERASCA, INC., a Delaware
corporation (the “Company”), having its principal place of business at 10835 Road to the Cure, Suite 140, San Diego, CA 92121, and MICHAEL D. VARNEY, PH.D., an individual
with an address at 709 N. Granados Ave., Solana Beach, CA 92075 (the “Advisor”). The Company and the Advisor may be referred to herein individually as “Party” or collectively, as
“Parties.” 
 RECITAL 

As part of its ongoing program of research and development, the Company desires to retain distinguished scientists and other qualified
individuals to advise the Company with respect to its technology strategy. In furtherance thereof, the Company desires to retain Advisor as a member of its Scientific Advisory Board as described below, and the Company and Advisor desire to enter
into this Agreement to effect such retention. 
 AGREEMENT 

In consideration of the mutual covenants set forth below, the Parties hereby agree as follows: 

1. SCIENTIFIC ADVISORY BOARD AND CONSULTING
SERVICES. Commencing on the Effective Date, the Company hereby retains Advisor, and Advisor hereby agrees to serve, as a member of the Company’s Scientific Advisory Board (the “SAB”) and
as a consultant to the Company. As member of the SAB and consultant, Advisor agrees to devote Advisor’s best efforts to provide the services as follows: (a) attending meetings of the Company’s SAB; (b) performing the duties of an
SAB member at such meetings, as established from time to time by the mutual agreement of the Company and the SAB members, including without limitation meeting with Company employees, consultants and other SAB members, reviewing goals of the Company
and assisting in developing strategies for achieving such goals, and providing advice in the Company’s scientific research and product development activities; and (c) providing consulting services to the Company at its request, including a
reasonable amount of informal consultation over the telephone or otherwise as requested by the Company. The services to be provided by Advisor hereunder are referred to collectively herein as the “Services.” Advisor shall
provide Services to the Company as reasonably requested by the Company. Advisor’s consultation with the Company will involve oncology targets covered by the Company’s pipeline to shut down the RAS/MAPK pathway (including SHP2, KRAS, EGFR
and ULK) as well as other targets that the Company is evaluating that the Parties mutually conclude do not conflict with Advisor’s current responsibilities (collectively, the “Field”), and requires the application of
unique, special and extraordinary knowledge that Advisor possesses in the Field. 
 2. COMPENSATION.

 2.1. As compensation for performing the Services, the Advisor, subject to approval of the Company’s board of directors, will be
granted stock options to purchase 150,000 shares of the Company’s common stock at an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant (the “stock
options”). The stock options will be granted pursuant to the Company’s equity incentive plan (the “plan”). The stock options will be subject to the terms and conditions of the plan and Advisor’s stock
option agreement, and will include an early-exercise feature at Advisor’s election. The stock options will vest over a four-year vesting schedule. For so long as Advisor continues to perform the services hereunder and through each vesting date,
the stock options shall vest as to 25% of the shares underlying the award on the one year anniversary of the vesting commencement date (as defined and set forth in the stock option grant) and as to 1/48th of the shares underlying the award on a
monthly basis thereafter. 

 2.2. In addition, the Company shall pay Advisor at the rate of $650 per hour for
Services that exceed the scope of work of general members of the SAB, as mutually agreed by the Company and Advisor. If requested by the Company, Advisor shall provide an invoice or similar documentation of work performed under this Section 2.2
on a monthly basis, including the number of hours worked and general description of work performed by day. 
 3.
INDEPENDENT CONTRACTOR. The Parties understand and agree that Advisor is an independent contractor and not an employee of the Company. Advisor has no authority to obligate the Company by contract
or otherwise. Advisor will not be eligible for any employee benefits, nor will the Company make deductions from Advisor’s fees for taxes (except as otherwise required by applicable law or regulation). Any taxes imposed on Advisor due to
activities performed hereunder will be the sole responsibility of Advisor. 
 4. OTHER
ACTIVITIES. The Company acknowledges that Advisor may serve as a member of third-party boards of directors and scientific advisory boards or similar appointments as well as engage in consulting and advisory services
to third parties, and nothing in this Agreement is intended to limit Advisor’s other business, educational or philanthropic activities, subject to compliance with the non-disclosure (Section 5),
intellectual property (Section 6) and non-competition/nonsolicitation (Section 7) provisions set forth below. 

5. RECOGNITION OF COMPANY’S RIGHTS;
NONDISCLOSURE. Advisor recognizes that the Company is engaged in a continuous program of research and development respecting its present and future business activities. Advisor agrees as follows: 

5.1. At all times during the term of Advisor’s association with the Company and thereafter, Advisor will hold in strictest confidence and
will not disclose, use, lecture upon or publish any of the Company’s Proprietary Information (defined below), except to the extent such disclosure, use or publication may be required in direct connection with Advisor’s performing requested
Services for the Company or is expressly authorized in writing by an officer of the Company. 
 5.2. The term “Proprietary
Information” shall mean any and all trade secrets, confidential knowledge, know-how, data or other proprietary information or materials of the Company. By way of illustration but not limitation,
Proprietary Information includes: (i) inventions, ideas, samples, prototypes, processes, compositions, formulations, compounds, techniques, patent disclosures, patent applications, devices, hardware, software, electronic components and
materials, and procedures for producing any such items, as well as data, know-how, improvements, inventions, discoveries, developments, designs and techniques; and (ii) information regarding plans for
research, development, new products, marketing and selling activities, business models, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and (iii) information regarding the skills and
compensation of employees or other consultants of the Company. 
 5.3. In addition, Advisor understands that the Company has received and in
the future will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it
only for certain limited purposes. During the term of Advisor’s association and thereafter, Advisor will hold Third Party Information provided to Advisor by or on behalf of Company in the strictest confidence and will not disclose or use Third
Party Information, except in connection with Advisor’s performing requested Services for the Company, or as expressly authorized in writing by an officer of the Company. 

  
 2 

 6. INTELLECTUAL PROPERTY
RIGHTS. 
 6.1. Advisor agrees that any and all ideas, inventions, technologies, discoveries, improvements,
know-how and techniques that the Advisor conceives, reduces to practice or develops during the term of this Agreement, alone or in conjunction with others, as a result of performing the Services for the
Company under this Agreement (collectively, the “Inventions”) shall be the sole and exclusive property of the Company. 

6.2. Advisor hereby assigns to the Company his entire right, title and interest in and to all Inventions. Upon Company’s reasonable
request and at Company’s expense, Advisor will perform other activities necessary to effect the intent of this Section 6.2. 

6.3. Advisor further agrees to cooperate and provide reasonable assistance to the Company to obtain and from time to time enforce United States
and foreign patents, copyrights, and other rights and protections claiming, covering or relating to the Inventions in any and all countries. 

6.4. Advisor agrees to submit to the Company any proposed publication that contains Proprietary Information, Inventions or work performed by
Advisor for the Company hereunder. Advisor further agrees that no such publication shall be made without the prior written consent of the Company, which consent shall not be unreasonably withheld. 

7. NONCOMPETITION AND NONSOLICITATION OF
EMPLOYEES. 
 7.1. During the term of this Agreement, Advisor will not, without the prior consent of the
Company, engage in any commercial business activity that competes in any way with any business then being conducted or planned by the Company in the Field, except that Advisor may continue the affiliations set forth in Exhibit A. The
foregoing shall not prevent Advisor from conducting any academic research, teaching or related non-commercial activity. 

7.2. During the term of this Agreement and for one (1) year after its termination, Advisor will not personally or through others recruit,
solicit or induce any employee or consultant of the Company to terminate his or her employment with the Company. 
 7.3. If any restriction
set forth in Sections 7.1 and 7.2 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of activities or in too broad a geographic area, it shall
be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. 

8. NO CONFLICTING OBLIGATION. 

8.1. Advisor represents that Advisor’s performance of all of the terms of this Agreement and the performing of the Services for the
Company do not and will not breach or conflict with any agreement with a third party, including, without limitation, any entity listed on Exhibit A. 

8.2. Advisor hereby agrees not to enter into any agreement that conflicts with this Agreement. 

  
 3 

 9. NO IMPROPER USE OF
MATERIALS. Advisor agrees not to bring to the Company or to use in the performance of Services for the Company any materials or documents of a present or former employer of Advisor, or any materials or documents
obtained by Advisor from a third party under an obligation of confidentiality, unless such materials or documents are generally available to the public or Advisor has authorization from such present or former employer or third party for the
possession and unrestricted use of such materials. Advisor understands that Advisor is not to breach any obligation of confidentiality that Advisor has to present or former employers or clients, and agrees to fulfill all such obligations during the
term of this Agreement. 
 10. TERM AND TERMINATION. 

10.1. This Agreement, and Advisor’s Services hereunder, shall commence on the Effective Date and shall continue for an initial term of one
(1) year after the Effective Date, unless earlier terminated as provided below. At the end of such initial term, this Agreement will automatically be extended for an additional period or periods of one (1) year each, unless the Advisor or
the Company shall have given to the other written notice to the contrary at least thirty (30) days prior to the commencement of such additional period. 

10.2. Advisor or the Company may terminate this Agreement at any time by giving no less than thirty (30) days prior written notice to the
other Party. 
 10.3. The obligations set forth in Sections 5, 6, 7 and 10 through 16 will survive any
termination or expiration of this Agreement. Upon termination of this Agreement, Advisor will promptly deliver to the Company all documents and other materials of any nature pertaining to the Services, together with all documents and other items
containing or pertaining to any Proprietary Information. 
 11. ASSIGNMENT. The rights and liabilities
of the Parties hereto shall bind and inure to the benefit of their respective successors, heirs, executors and administrators, as the case may be; provided that, as the Company has specifically contracted for Advisor’s Services, Advisor may not
assign or delegate Advisor’s obligations under this Agreement either in whole or in part without the prior written consent of the Company. The Company may assign its rights and obligations hereunder to any person or entity that succeeds to all
or substantially all of the Company’s business. Any assignment not in accordance with this Section 11 shall be void. 

12. LEGAL AND EQUITABLE REMEDIES. Because Advisor’s
Services are personal and unique and because Advisor may have access to and become acquainted with the Proprietary Information of the Company, the Company shall have the right to enforce this Agreement and any of its provisions by seeking
injunction, specific performance or other equitable relief without prejudice to any other rights and remedies that the Company may have for a breach of this Agreement. 

13. GOVERNING LAW; SEVERABILITY. This Agreement shall be governed by and
construed according to the laws of the State of California, without regards to conflicts of laws rules. If any provision of this Agreement is found by a court of competent jurisdiction to be unenforceable, that provision shall be severed and the
remainder of this Agreement shall continue in full force and effect. 
 14. COMPLETE UNDERSTANDING;
MODIFICATION. This Agreement, and Exhibit A, constitute the final, exclusive and complete understanding and agreement of the Parties hereto and supersedes all prior understandings and agreements. Any waiver,
modification or amendment of any provision of this Agreement shall be effective only if in writing and signed by the Parties hereto. 
 15.
NOTICES. Any notices required or permitted hereunder shall be given to the appropriate Party at the address listed on the first page of this Agreement, or such other address as the Party shall specify in writing
pursuant to this notice provision. Such notice shall be deemed given upon personal delivery to the appropriate address or three days after the date of mailing if sent by certified or registered mail. 

  
 4 

 16. COUNTERPARTS. This Agreement may be executed in one
or more counterparts each of which will be deemed an original, but all of which together shall constitute one and the same instrument. 

[Signature Page Follows] 

  
 5 

 IN WITNESS WHEREOF, the
Parties hereto have executed this Agreement as of the date first written above. 
  

									
	Erasca, Inc.	  		  	MICHAEL D. VARNEY, PH.D.
				
	By:	  	 /s/ Jonathan Lim
	  		  	 /s/ Michael Varney

		  	Name:	  	Jonathan E. Lim, M.D.	  		  	
		  	Title:	  	Executive Chairman	  		  	

 SIGNATURE PAGE TO SCIENTIFIC
ADVISORY BOARD AGREEMENT 

 EXHIBIT A 

Affiliations 
 [Please list any
potentially competitive engagements here so that Erasca can evaluate and the parties agree upon best protocol to avoid conflicts.] 
 1) “Senior
Advisor,” Frazier Healthcare Ventures. This is an advisory role. 
 2) Scientific Advisory Board Member, Turning Point. 

3) Sporadic consulting on an individual basis (as time permits) with small companies.

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