Document:

Document

EXHIBIT 10.1

PERFORMANCE SHARE UNIT AWARD AGREEMENT
Helix Energy Solutions Group, Inc.
2005 Long-Term Incentive Plan
(As Amended and Restated Effective May 15, 2019)

This Performance Share Unit Award Agreement (this “Agreement”) is made by and between Helix Energy Solutions Group, Inc. (the “Company” or “Helix”) and ______________ (the “Employee”) effective as of January 4, 2021 (the “Grant Date”), pursuant to the Helix Energy Solutions Group, Inc. 2005 Long-Term Incentive Plan (As Amended and Restated Effective May 15,  2019) (the “Plan”), which is incorporated by reference herein in its entirety.

WHEREAS, the Company desires to grant to the Employee the performance share units specified herein (the “Units”), subject to the terms and conditions of this Agreement and the Plan; and

WHEREAS, the Employee desires to be granted the Units subject to the terms and conditions of this Agreement and the Plan;

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

1.The Plan. The Plan, a copy of which has been made available to the Employee, is incorporated by reference and made a part of this Agreement as if fully set forth herein.  This Agreement uses a number of defined terms that are defined in the Plan or in the body of this Agreement.  These defined terms are capitalized wherever they are used.

2.Award.

(a)The Compensation Committee of the Board of Directors of the Company (the “Committee”) has awarded to the Employee, and on the Grant Date, the Company hereby grants to the Employee, _____ Units, which constitute Restricted Stock Units under the Plan and which are subject to the terms and conditions of this Agreement and the Plan.  The Employee has the opportunity to earn up to 200% of the Units granted hereby, based upon the two (2) performance criteria described in Section 2(c).

(b)Depending on the Company’s achievement of the performance goals specified in Section 2(c) during the three-year period beginning January 1, 2021 and ending December 31, 2023 (the “Performance Period”), the Employee shall be entitled to a payment equal to the value of the Units determined pursuant to Section 2(d) if, except as otherwise provided in Section 3, the Employee remains actively employed with the Company and/or its Affiliate(s) through the end of the Performance Period.

(c)The amount paid with respect to the Units shall be based upon the following two components in equal parts:

1

i.Total Shareholder Return.  Fifty percent (50%) of the award shall be payable based on the Company’s Total Shareholder Return (“TSR”) relative to the TSR of the Company’s “Peer Group” listed on Schedule A attached hereto, equal to the product of one half (1/2) of the Units awarded (as described in Section 2(a)) multiplied by the Adjustment Factor.  The TSR of the Company and of the Peer Group shall be calculated and certified by the Committee.  The percentile ranking of the Company’s TSR as compared to the TSR of each entity in the Peer Group shall determine the Adjustment Factor using the chart below.  The Adjustment Factor for performance rankings between points on this chart shall be determined by linear interpolation between the values listed.  In no event shall the Adjustment Factor exceed 200%.  If the performance ranking is below the 25th percentile, the Adjustment Factor shall be zero:

						
	Helix’s TSR
Performance Ranking	Adjustment Factor
	80th percentile or above
	200%
	55th percentile (“Target”)
	100%
	Below 25th percentile
	0%

“Total Shareholder Return” or “TSR” = (Ending Stock Price – Beginning Stock Price + Dividends, if any, paid over the Performance Period)/Beginning Stock Price.

“Ending Stock Price” and “Beginning Stock Price” = the average Stock Price for the 20 trading days prior to the ending and beginning dates of the Performance Period.

“Stock Price” = the closing price for the day as reported on the applicable exchange or market.

TSR of the Company or any member of the Peer Group shall be equitably adjusted to reflect any spin off, stock split, reverse stock split, stock dividend, recapitalization, or reclassification or other similar change in the number of outstanding shares of common stock.

ii.Free Cash Flow.  Fifty percent (50%) of the award shall be payable based on the cumulative total Free Cash Flow (“FCF”) generated by the Company during the Performance Period, equal to the product of one half (1/2) of the Units awarded (as described in Section 2(a)) multiplied by the Adjustment Factor.  In the event the Company generates positive FCF during the Performance Period.  The FCF of the Company shall be calculated and certified by the Company’s Chief Financial Officer.  The cumulative total FCF generated by the Company during the Performance Period shall determine the Adjustment Factor using the chart below.  The Adjustment Factor for cumulative FCF on this chart shall be determined on a tiered basis, and not by linear interpolation.  In no event shall the Adjustment Factor exceed 200%.  If the Company does not generate a cumulative positive FCF during the Performance Period, the Adjustment Factor shall be zero:

2

						
	Performance Period
Cumulative FCF	Adjustment Factor
	$50 Million or above	200%
	$0-$50 Million, exclusive	100%
	$0 or Below	0%

“Free Cash Flow” or “FCF” = cash flows from operating activities less capital expenditures, net of proceeds from sale of assets.

(d)The amount payable to the Employee pursuant to this Agreement, if any, in respect of the Units earned shall be paid in shares of Stock of the Company with one (1) share of Stock to be issued for each Unit earned, unless the Committee determines to make such payment in whole or in part in cash.  Any Units payable to the Employee shall be calculated by multiplying the number of Units awarded to the Employee by the Adjustment Factor set forth above for the levels of achievement of the performance criteria set forth in Section 2(c)(i)-(ii).  By way of example, if at the end of the Performance Period (x) the Company’s TSR was at the 55th percentile and (y) the Company did not generate a cumulative positive FCF during the Performance Period, then 50% of the Units would be payable to the Employee (comprised of 100% of the Units earned under Section 2(c)(i) and 0% of the Units earned under Section 2(c)(ii)).  Any cash value payable shall be determined by multiplying the number of Units payable by the Fair Market Value of one (1) share of Stock on the date determined by the Committee.

(e)Except as provided in Section 3(b), payment of amounts due shall be made on or before the March 15 immediately following the end of the Performance Period.

3.Early Termination; Change of Control.

(a)In the event of the Employee’s termination of employment prior to the end of the Performance Period due to (i) death, (ii) disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”) (a “Disability”), or (iii) Retirement (as hereinafter defined), the Employee shall vest in a number of Units determined by multiplying the number of Units granted by a fraction, the numerator of which is the number of full months between the beginning of the Performance Period and the date of termination due to death, Disability or Retirement, and the denominator of which is thirty-six (36).  The Committee shall determine the number of Units vested and the amount to be paid to the Employee or his or her estate in accordance with Section 2(e) based on the performance criteria set forth under Section 2(c)(i)-(ii) for the entire Performance Period.  As used herein, “Retirement” is defined as the voluntary termination of employment at or after age 55 with at least five (5) years of service and the Employee not, at any time on or before the date that is two (2) years following termination of employment, accepting employment with, acquiring a five percent (5%) or more equity or participation interest in, serving as a consultant, advisor, director or agent of, directly or indirectly soliciting or recruiting any employee of the Company who was employed at any time during Employee’s service with the Company, or otherwise assisting in any other capacity or manner any company or enterprise that is directly or indirectly in competition with or acting against the interests of the Company or any of its lines of business, except for any service or assistance that is provided at the request or with the written permission of the Company.  Any accelerated vesting pursuant to this Section 3(a)(i) due to the Employee’s Retirement shall not affect the time of payment under this Agreement.

3

(b)In the event of a Change of Control during the Performance Period, the Employee shall vest in all of the Units granted to the Employee under this Agreement.  The amount paid with respect to the Units will be determined based on the performance criteria as set forth in Section 2(c)(i)-(ii); however, (i) the TSR of the Company and the Peer Group and (ii) the cumulative total FCF generated by the Company will be determined over an adjusted performance period, defined as the period beginning on the original beginning date of the Performance Period and ending on the effective date of the Change of Control.  If the award is payable in cash, the cash value payable shall be determined by multiplying the number of Units payable by the Fair Market Value of a share of Stock on the date of the Change of Control.  Payment shall be made to the Employee upon the date of the Change of Control. Notwithstanding the foregoing, if the Change of Control does not qualify as a “change in control event” under Department of Treasury Regulation section 1.409A-3(i)(5)(i), then payment shall be made at the time specified in Section 2(e).

(c)The Units may also vest under circumstances provided in any employment agreement between the Employee and the Company or other severance arrangements established by the Company.  If the Employee is a party to an employment and/or severance agreement with the Company or a participant in a severance plan of the Company that provides for accelerated vesting of restricted stock units that were scheduled to vest within a specified period, the Units will be treated as scheduled to vest within such specified period if the Performance Period for such Units is scheduled to end within such specified period and the performance criteria for the Performance Period results in a payout for the Units in accordance with the criteria set forth in Section 2(c).  By way of example, if an Employee’s employment is terminated by the Company under circumstances that would entitle the Employee to the acceleration of vesting of restricted stock units that are scheduled to vest within the next twelve (12) months, the Employee would receive a payout for those Units in accordance with the terms of this Agreement based on the Company’s TSR and cumulative FCF for the Performance Period.  Any accelerated vesting pursuant to this Section 3(c) shall not affect the time of payment under this Agreement.

4.Tax Withholding. To the extent that the receipt or payout of the Units results in income to the Employee for federal, state or local income or employment tax purposes with respect to which the Company or any of its Affiliates has a withholding obligation, if the payment is in cash the Company or the Affiliate, as applicable, shall withhold all applicable tax from any cash payable for the Units, or if payment is in shares of Stock of the Company, the Employee shall deliver to the Company at the time of receipt such amount of money as the Company may require to meet its or its Affiliate’s obligation under applicable tax laws or regulations, and if the Employee fails to do so, the Company is authorized to withhold from any shares issued under this Agreement sufficient to satisfy the withholding obligation based on the last per share sales price of the Company’s common stock for the trading day immediately preceding the date that the withholding obligation arises.

5.Employment Relationship. For purposes of this Agreement, the Employee shall be considered to be in the employment of the Company and its Affiliates as long as the Employee has an employment relationship with the Company and its Affiliates.  The Committee shall determine any questions as to whether and when there has been a termination of such employment relationship, and the cause of such termination, under the Plan and the Committee’s determination shall be final and binding on all persons.

4

6.Not an Employment Agreement. This Agreement is not an employment agreement, and no provision of this Agreement shall be construed or interpreted to create an employment relationship between the Employee and the Company or its Affiliates or guarantee the right to remain employed by the Company or its Affiliates for any specified term.

7.Notices. Any notice, instruction, authorization, request or demand required hereunder shall be in writing, and shall be delivered either by personal delivery, facsimile, certified or registered mail, return receipt requested, or by courier or delivery service, addressed to the Company at the then-current address of the Company’s Principal Corporate Office, and to the Employee at the Employee’s address indicated beneath the Employee’s signature on the execution page of this Agreement, or at such other address and number as a party shall have previously designated by written notice given to the other party in the manner hereinabove set forth.  Notices shall be deemed given when received, if sent by facsimile means (confirmation of such receipt by confirmed facsimile transmission being deemed receipt of communications sent by facsimile means), and when delivered (or upon the date of attempted delivery where delivery is refused), if hand-delivered, sent by express courier or delivery service, or sent by certified or registered mail, return receipt requested.

8.Amendment and Waiver. This Agreement may be amended, modified or superseded only by written instrument executed by the Company and the Employee.  Only a written instrument executed and delivered by the party waiving compliance hereof shall make any waiver of the terms or conditions.  Any waiver granted by the Company shall be effective only if executed and delivered by a duly authorized executive officer of the Company other than the Employee.  The failure of any party at any time or times to require performance of any provisions hereof shall in no manner effect the right to enforce the same.  No waiver by any party of any term or condition, or the breach of any term or condition contained in this Agreement, in one or more instances, shall be construed as a continuing waiver of any such condition or breach, a waiver of any other condition, or the breach of any other term or condition.

9.Governing Law and Severability. This Agreement shall be governed by the laws of the State of Texas, without regard to its conflicts of law provisions.  The invalidity of any provision of this Agreement shall not affect any other provision of this Agreement, which shall remain in full force and effect.

10.Successors and Assigns. This Agreement shall bind, be enforceable by and inure to the benefit of the Company and its successors and assigns, and subject to Section 3(a), to the Employee, the Employee’s permitted assigns, executors, administrators, agents, legal and personal representatives.

11.Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be an original for all purposes but all of which taken together shall constitute but one and the same instrument.

5

12.Section 409A. This Agreement shall be construed and interpreted to be exempt from or to comply with Section 409A of the Code, and any regulations or other guidance promulgated thereunder.  Neither the Company nor the members of the Committee shall be liable for any determination or action taken or made with respect to this Agreement or the Units granted hereunder.

13.Non-Transferability. Neither this Agreement nor the rights of the Employee hereunder shall be transferable by the Employee during his or her life other than by will or pursuant to applicable laws of descent and distribution, subject to Section 3(a) herein.  No rights or privileges of the Employee in connection herewith shall be transferred, assigned, pledged or hypothecated by the Employee or by any other person in any way, whether by operation of law, or otherwise, and shall not be subject to execution, attachment, garnishment or similar process.  In the event of any such occurrence, this Agreement shall automatically be terminated and shall thereafter be null and void.

14.Entire Agreement. The Plan and this Agreement contain the  entire  agreement between the parties with respect to the subject matter contained herein and may not be modified, except as provided herein or in the Plan or as it may be amended from time to time by a written document signed by each of the parties hereto.  Any oral or written agreements, representations, warranties, written inducements, or other communications with respect to the subject matter contained herein made prior to the execution of the Agreement shall be void and ineffective for all purposes.

15.Unsecured Promise to Pay. The Company’s obligation under the Plan and this Agreement is an unsecured and unfunded promise to pay benefits that may be earned in the future.  The Company shall have no obligation to set aside, earmark or invest any fund or money with which to pay its obligations under this Agreement.  The Employee or any successor in interest shall be and remain a general creditor of the Company in the same manner as any other creditor having a general claim for matured and unpaid compensation.
6

IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorized representative, and the Employee has executed this Agreement, all effective as of the date first above written.

															
				HELIX ENERGY SOLUTIONS GROUP, INC. 
 

				By: 	/s/ Owen Kratz                                   
				Owen Kratz
President and Chief Executive Officer
					
				EMPLOYEE:
				
				                                                                    
				Name:
Address:

7

Schedule A

PEER GROUP COMPANIES

[LIST OR DESCRIPTION OF PERFORMANCE PEER GROUP TO BE INSERTED IN ACCORDANCE WITH DETERMINATION OF COMPENSATION COMMITTEE]

If any Peer Group company files for or is the subject of any bankruptcy, insolvency, or liquidation proceeding during the Performance Period, such Peer Group company will remain in the Peer Group positioned below the lowest performing member of the Peer Group in chronological order by bankruptcy, insolvency, or liquidation date.

If a Peer Group company’s TSR shall cease to be available by reason of a business combination, acquisition, merger or similar transformative event, the Committee shall exclude that company from the Peer Group and at the Committee’s discretion, the Committee may select a substitute Peer Group company for the excluded company.

Once a company is removed from the Peer Group as described above, that company shall be treated as having been removed from the Peer Group for the entire Performance Period and if applicable, a substitute Peer Group company shall be treated as included in the Peer Group for the entire Performance Period.

8EX-10.1

 Exhibit 10.1 
  

 
 GUARDANT HEALTH 505 Penobscot Drive, Redwood City, CA 94063 USA / 855.698.8887 client services /
www.guardanthealth.com 
 REVISED OFFER LETTER 

December 4, 2020 
 Michael Bell 

61 Van Tassel Lane 
 Orinda, CA 94563 

Dear Mike, 
 On behalf of Guardant Health, Inc. (the
“Company”), I am pleased to offer you the position of Chief Financial Officer working as part of our Finance Department in 505 Penobscot Dr, Redwood City, CA 94063, USA. You will be working under the guidance of, and
reporting to Helmy Eltoukhy, Chief Executive Officer. 
 When you join Guardant Health, you will be an exempt salaried employee. Your initial base salary
will be USD 450,000, less applicable deductions and withholdings, which will be paid biweekly in accordance to the Company’s normal payroll procedures. As an exempt employee, you will not be entitled to payment of overtime. Your initial
merit increase will be prorated from your hire date. For those starting on or after October 1st, you will not be eligible for a merit increase until the following year. 

Bonus: You are eligible to participate in the Guardant Health Incentive Bonus Plan, and your target bonus percentage, as a percentage of base salary,
is 50%. Actual target bonus amounts subject to the Guardant Health Incentive Bonus Plan are pro-rated based on date of hire. Employees with a date of hire on or after October 1st of this year are not
eligible to participate in the Guardant Health Incentive Bonus Plan in the year in which they are hired. 
 Sign On: You will receive a signing bonus
of USD 500,000 that will be earned over twenty-four (24) months, subject to applicable taxes, that will be payable on your first or second payroll date. Please note that if you voluntarily terminate your employment with the
Company prior to completing the required twenty-four (24) months of service, you will be required to repay the sign-on bonus on a prorated basis. It will be based upon the number of months of employment
with the Company divided by twenty-four (24). 
 Equity: 

Restricted Stock Unit Award: Subject to the approval of the Guardant Health Compensation Committee, the Company will grant you a restricted stock unit
award (the “RSU Award”) covering shares of the 

 Company’s common stock with a grant-date fair value of approximately USD 2,000,000 subject to
your continued employment through the date of grant. The number of RSUs to be awarded will be determining by calculating the average closing price of the Company’s common stock for the calendar quarter during which you commence employment, in
this case the average closing price for all trading days for the period of January 1, 2021 to March 31, 2021, and dividing the target RSU Award value by the average closing price of the Company’s common stock, then rounding up to the
next whole share. The RSU Award is expected to vest 25% per year over a period of four years following your Start Date, as defined below, subject to your continued service with the Company through the applicable vesting date, and will be subject to
the terms of the Company’s 2018 Incentive Award Plan (the “2018 Plan”) and an applicable award agreement in a form prescribed by the Company to be entered into by you and the Company, which will evidence the grant of the RSU
Award. 
 Stock Options: Subject to the approval of the Guardant Health Compensation Committee, the Company will grant you a stock option (the
“Option”) to purchase USD 2,000,000 of the Company’s common stock with an exercise price equal to the fair market value of the date of the grant. The number of stock options granted is calculated as 200% of the rounded
number of RSUs awarded as calculated per the formula described above. Stock option exercise price is equal to the closing price of Guardant Health common stock on the date of grant. The Option shares will vest and become exercisable at the rate of
25% of the total number of shares on the twelve (12) month anniversary of your Vesting Commencement Date (as defined in the Stock Option Agreement to be executed between you and the Company, which date will be your Start Date, as defined below)
and 1/48th of the total number of shares each month thereafter on the monthly anniversary of the Vesting Commencement Date. Vesting will, of course, depend on your continued employment with the Company. The Option will be an incentive stock option
to the maximum extent allowed by the tax code and will be subject to the terms of the Company’s 2018 Plan and the applicable award agreement between you and the Company. 

Performance Stock Units: Subject to the approval of the Guardant Health Compensation Committee, the Company will grant you a performance-based stock
unit award (the “PSU Award”) that when vested will be convert into the Company’s common stock with a grant-date fair value of approximately USD 1,000,000, subject to the Company meeting certain operational and financial
performance milestones and your continued employment through the achievement of the milestones and subsequent holding period. Additional details will be provided upon approval by the Guardant Health Compensation Committee. 

Paid Time Off: You will be eligible to accrue paid time off of 15 days for your first year and then 20 days from your first anniversary, accrued per
pay period. Details of our paid time off policy will be provided in our Company’s handbook. 
 Group Benefits Plans: You will be eligible to
participate in the standard benefits plans currently available to other similarly situated employees, including medical, dental, vision and life insurance, subject to any eligibility requirements imposed by such plans. Eligibility for these plans
will start on your first day of employment. Details of the plans will be provided prior to your Start Date and you will be able to select benefits during your first 30 days of employment. As an executive officer of the Company, you will also be
extended our Indemnity Agreement and participate in our Executive Severance Plan, along with a supplemental long term disability insurance policy. 

Confidentiality Agreement: Your acceptance of this offer and commencement of employment with the Company is contingent upon the execution, and delivery
to an officer of the Company, of the Company’s Confidential Information and Invention Assignment Agreement, a copy of which is enclosed for your review and execution (the “Confidentiality Agreement”), prior to your Start Date.

 Work Authorization: This offer is contingent upon your obtaining the requisite employment
authorization. If you require assistance obtaining work authorization or transferring a visa, please contact Melissa Johnson (mejohnson@guardanthealth.com) to initiate the process with our attorneys. The Company will submit a petition on your behalf
to obtain employment authorization, as well as file visa applications for your immediate dependent family members. The Company will pay the legal fees and costs related to these filings. Because the number of work visas available each year is
limited by the U.S. Government, Guardant Health reserves the right to withdraw or suspend this offer of employment if it is not able to obtain work authorization for you in a reasonable period of time. Please note that if you currently have
employment authorization such as practical, curricular or academic training (F-1 or J- 1) you must contact us before beginning employment. 

Federal immigration law requires that we verify your right to work legally in the United States. You will be required to provide to the Company documentary
evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your Start Date, or our employment relationship with you may be terminated. 

Your offer of employment is also contingent upon the successful verification of the information you provided to the Company during your application process,
as well as a general reference and background check performed by the Company. By accepting this offer of employment, you warrant that all information provided by you is true and correct to the best of your knowledge. Please make sure to fill out the
necessary forms as soon as you receive them. 
 Lastly, we pride ourselves having a supportive and open environment, however, as a Guardant Health employee,
you will be expected to abide by the Company rules and standards. You will be required to read and sign the ‘Acknowledgment of Receipt’ from the Guardant Health Employee Handbook. 

No Conflicting Obligations: By accepting this offer of employment, you understand and agree that your performance will not breach any other agreement
to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter or the Company’s policies. You are
not to bring with you to Guardant Health, or use or disclose to any person associated with the Company, any confidential or proprietary information belonging to any former employer or other person or entity with respect to which you owe an
obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging
to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer (to the extent you have any such obligations) and suggest that you refrain from
having any contact with such persons until such time as any non-solicitation obligation expires. 
 General
Obligations: Guardant Health is proud of its culture that it’s developed and as an employee, you will be expected to adhere to the Company’s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all.
Please note that we are an equal opportunity employer. The Company does not permit, and will not tolerate, the unlawful discrimination or harassment of any employees, consultants, or related third parties on the basis of sex, race, color, religion,
age, national origin or ancestry, family care status, marital or domestic partner status, veteran or military status, mental or physical disability or legally protected medical condition, genetic information, sexual orientation, gender identity,
gender expression, pregnancy, childbirth or related medical condition, or any other status protected by applicable law. 

 At Will Employment: Guardant Health is excited about your joining and looks forward to a mutually
beneficial relationship. Nevertheless, you should be aware that your employment with the Company is for no specified period and constitutes at-will employment. As a result, you are free to resign at any time,
for any reason or for no reason without further obligation or liability. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or without notice. The Company also reserves the
right to modify or amend the terms of your employment at any time for any reason. This policy of at-will employment is the final and entire agreement as to how your employment may be terminated and may only be
modified in an express written agreement signed by the Chief Executive Officer of the Company that expressly changes your at-will status. 

This letter, together with the Confidentiality Agreement, set forth the terms of your employment with the Company and supersede any prior representations or
agreements, whether written or oral. This letter will be governed by the laws of California, without regard to its conflict of laws and provisions. 
 We
are all delighted to be able to extend you this offer and look forward to working with you. To indicate your acceptance of the offer, please sign and date this letter in the space provided below and return it to me by December 8, 2020. We
request that you begin full-time work in this new position on 
 January 5, 2021 (your “Start Date”).  

Mike, we are very excited about having you join Guardant Health and look forward to working with you. 

 

	
	Very truly yours,
	
	Guardant Health, Inc.
	
	 /s/ Amelia Merrill

	Amelia Merrill, VP of People

  

	
	ACCEPTED AND AGREED:
	
	Michael Bell
	
	 /s/ Michael Bell

	Signature
	 12/6/2020

	Date

 Attachment A: Confidential Information and Invention Assignment Agreement 

 GUARDANT HEALTH 

EMPLOYEE CONFIDENTIAL INFORMATION AND INVENTION ASSIGNMENT AGREEMENT 

In consideration of my continued employment with Guardant Health (the “Company”), I, Michael Bell (“I” or “Employee”), agree to
the following terms (all of which shall be deemed to be effective starting as of when employment with the Company first commenced): 
 1. MAINTAINING
CONFIDENTIAL INFORMATION 
 (a)     Confidential Information. For purposes of this Agreement, the term
“Confidential Information” means all information and materials that are confidential, secret, or proprietary (whether or not technical in nature) related to any aspect of the business of the Company. Confidential Information includes lists
of names or classes of customers or personnel, lists of suppliers or manufacturing entities, inventions, innovations, improvements, research or development activities and plans, test results, product specifications, disclosures, processes, systems,
methods, formulae, devices, patents, patent applications, trademarks, intellectual properties, instruments, materials, products, patterns, compilations, programs, techniques, sequences, designs, specifications, computer programs, source codes, mask
works, costs of production, volume of sales, promotional methods, marketing plans, business plans, business opportunities, strategies, forecasts, prices or other financial data, financial statements, budgets, projections, representative agreements,
licenses, sub-licenses, agreements, and any and all information concerning the teaching of sales, marketing, and operational techniques, marketing and purchasing formulae, development of product designs, pre-manufacturing product designs, and formats. Confidential Information includes not only information that I have had disclosed to me or had access to in the course of employment, but also information that I
developed or learned during the course of my employment with the Company. The term “Confidential Information” is to be broadly defined, but shall not include any of the foregoing items which have become publicly known and made generally
available through no wrongful act of mine or of others who were under confidentiality obligations as to the item or items involved. 

(b)     Company Confidential Information. I agree at all times in perpetuity to hold all Confidential
Information in confidence and to not disclose, use, copy, publish, summarize, or remove from the premises of the Company any Confidential Information, except (a) as necessary to carry out my assigned responsibilities as a Company employee, and
(b) after termination of my employment, only as specifically authorized in writing by an officer of the Company. I agree to take all reasonable measures to protect the Confidential Information of the Company from falling into the public domain
or the possession of persons other than those persons authorized to have any such Confidential Information. Nothing in this Agreement shall prohibit me from disclosing Confidential Information of the Company if legally required to do so by judicial
or governmental order or in a judicial or governmental proceeding (“Required Disclosure”); provided that I shall (i) give the Company prompt notice of such Required Disclosure prior to disclosure; (ii) cooperate with the other
party in the event that it elects to contest such disclosure or seek a protective order with respect thereto, and/or (iii) in any event only disclose the exact Confidential Information, or portion thereof, specifically requested by the Required
Disclosure. 
 (c)     Former Employer Information. I agree that I will not, during my employment with the
Company, improperly use or disclose any proprietary information or trade secrets of my former or concurrent employers and that I will not bring onto the premises of the Company any unpublished document or any property belonging to my former or
concurrent employers unless consented to in 

 
writing by said employers. [I acknowledge and agree that I have listed on Exhibit D all agreements (e.g., non-competition agreements, non-solicitation of customers agreements, non-solicitation of employees agreements, confidentiality agreements, inventions agreements, etc.) with a current or former employer,
or any other person or entity, that may restrict my ability to accept employment with the Company or my ability as an employee to recruit or engage customers or service providers on behalf of the Company, or otherwise restrict my ability to perform
my duties as an employee of the Company or any obligation I may have to the Company.] 
 (d)     Third Party
Information. I recognize that the Company has received and in the future will receive from third parties confidential or proprietary 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. I agree that I owe the Company and such third parties, during the term of my employment and thereafter, a duty to hold all such confidential or proprietary information in the strictest confidence, to
the same extent as if it were Confidential Information. 
 (e)     Notice of Immunity. I am hereby
notified that, pursuant to the federal Defend Trade Secrets Act of 2016, an individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that: (i) is made in
confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal. 
 2. RETAINING AND ASSIGNING INVENTIONS AND ORIGINAL WORKS 

(a)     Inventions and Original Works Retained By Me. I have attached hereto, as Exhibit A, in a manner that
does not violate any third party rights, a list describing all inventions, original works of authorship, developments, improvements, and trade secrets which were made by me prior to my employment with the Company, which belong to me, which relate to
the Company’s business and products, and which are not assigned to the Company; or, if such list is not attached, I represent that there are no such inventions. 

(b)     Inventions and Original Works to Be Assigned to the Company. I will promptly make full written
disclosure to the Company, I will hold in trust for the sole right and benefit of the Company, and I hereby assign to the Company all my right, title, and interest in and to any and all inventions, original works of authorship, mask works,
developments, improvements, designs, know-how, ideas, information or trade secrets which I solely or jointly conceive or develop or reduce to practice during the period of time I am in the employ of the
Company. I hereby make all assignments necessary to accomplish the foregoing. I further agree that if I use or disclose my own confidential information or intellectual property in creating any inventions, original works of authorship, mask works,
developments, improvements, designs, know-how, ideas, information or trade secrets during the period of time I am in the employ of the Company, the Company will have and I hereby grant the Company a perpetual,
irrevocable, worldwide, royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such confidential information and intellectual property rights. I recognize, however, that
Section 2870 of the California Labor Code (as set forth in Exhibit B hereto) exempts from this provision any invention as to which I can prove the following: 

(i)     It was developed entirely on my own time; and 

 (ii)     No equipment, supplies, facility or trade secret of the Company
was used in its development; and 
 (iii)     It does not relate to the business of the Company or to the Company’s
actual or demonstrably anticipated research and development; and 
 (iv)     It does not result from any work performed
by me for the Company. 
 I acknowledge that all original works of authorship which have been and will be made by me (solely or jointly with others) within
the scope of my employment and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act (17 USCA, Section 101). 

(c)     Obtaining Letters Patent and Copyright Registrations. I agree that my obligation to assist the
Company to obtain United States or foreign letters patent and copyright registrations covering inventions and original works of authorship assigned hereunder to the Company shall continue beyond the termination of my employment, but the Company
shall compensate me at a reasonable rate for time actually spent by me at the Company’s request on such assistance. If the Company or its designee is unable because of my mental or physical incapacity or unavailability or for any other reason
to secure my signature to apply for or to pursue any application for any United States or foreign patents, copyright, mask works or other registrations covering Inventions or original works of authorship assigned to the Company or its designee as
above, then I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other
lawfully permitted acts to further the application for, prosecution, issuance, maintenance or transfer of letters patent, copyright or other registrations thereon with the same legal force and effect as if originally executed by me. I hereby waive
and irrevocably quitclaim to the Company or its designee any and all claims, of any nature whatsoever, which I now or hereafter have for infringement of any and all proprietary rights assigned to the Company or such designee. 

(d)     Moral Rights. To the extent allowed by law, Section 2(b) includes all rights of paternity,
integrity, disclosure and withdrawal and any other rights that may be known as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like (collectively “Moral Rights”). To the
extent I retain any such Moral Rights under applicable law, I hereby ratify and consent to any action that may be taken with respect to such Moral Rights by or authorized by the Company and agree not to assert any Moral Rights with respect thereto.
I will confirm any such ratifications, consents and agreements from time to time as requested by the Company. 
 3. CONFLICTING EMPLOYMENT 

I agree that, during the term of my employment with the Company, I will devote full time to the business of the Company and will not engage in any other
employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of my employment nor will I engage in any other activities that conflict with my
obligations to the Company. 

 4. RETURNING COMPANY DOCUMENTS 

I agree that, at the time of leaving the employ of the Company, I will deliver to the Company (and will not keep in my possession or deliver to anyone else)
any and all devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items belonging to the
Company, its successors or assigns, whether or not confidential. In the event of the termination of my employment, I agree to sign and deliver the “Termination Certification” attached hereto as Exhibit C. 

5. REPRESENTATIONS 
 I agree to execute any proper oath or
verify any proper document required to carry out the terms of this Agreement. I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence proprietary information acquired by me in confidence
or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any oral or written agreement in conflict herewith. 

6. NON-SOLICITATION 

(a)     Non-solicitation of Business. I agree that upon termination
of my employment, I will not use Company trade secrets to either solicit business from, or enter into a business relationship or transaction with, any person or entity that has or has had a business relationship with the Company (including, but not
limited to, customers) or disrupt, or attempt to disrupt, any relationship, contractual or otherwise, between Company and any such person or entity. 

(b)     Non-solicitation of Employees and Contractors. To the extent
permitted by law, I agree that during my employment by the Company and for one year thereafter I will not solicit any employee or contractor of the Company to terminate his or her employment or contractor status with the Company. 

7. GENERAL PROVISIONS 

(a)     CA Law. This Agreement will be governed by the laws of the State of CA. 

(b)     Entire Agreement. This Agreement sets forth the entire agreement and understanding between the
Company and me relating to the subject matter herein and merges all prior discussions between us. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing signed by the
party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. 

(c)     Severability. If one or more of the provisions in this Agreement are deemed void by law, then the
remaining provisions will continue in full force and effect. 
 (d)     Successors and Assigns. This
Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 

 (e)     At-Will
Employment. I agree that my employment relationship with the Company is one of employment at will, meaning that either I or the Company may terminate my employment relationship without advance notice for any reason (or for no reason). 

(f)     Remedies. I acknowledge and agree that violation of this Agreement by me may cause the Company
irreparable harm, and therefore agree that the Company will be entitled to seek extraordinary relief in court, including but not limited to temporary restraining orders, preliminary injunctions and permanent injunctions without the necessity of
posting a bond or other security and in addition to and without prejudice to any other rights or remedies that the Company may have for a breach of this Agreement. 

(g)     Advice of Counsel. I acknowledge that, in executing this Agreement, I have had the opportunity to
seek the advice of independent legal counsel, and I have read and understood all of the terms and provisions of this Agreement. This Agreement shall not be construed against any party by reason of the drafting or preparation hereof. 

(h)     Continuing Obligations. I agree that my obligations under this Agreement shall continue in effect
after termination of my employment, regardless of the reason or reasons for termination, and whether such termination is voluntary or involuntary on my part, and that the Company is entitled to communicate my obligations under this Agreement to any
future employer or potential employer of mine. 
 I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS WHICH IT IMPOSES UPON
ME WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS AGREEMENT. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT THE COMPANY WILL RETAIN ONE COUNTERPART AND THE
OTHER COUNTERPART WILL BE RETAINED BY ME. 
  

			
	Date:	 	12/6/2020

  

	
	  
 /s/ Michael Bell

	Signature
	
	 Michael Bell

	Name of Employee (typed or printed)

 EXHIBIT A 

LIST OF PRIOR INVENTIONS 
 AND
ORIGINAL WORKS OF AUTHORSHIP 
  

							
	 TITLE
	  	DATE	 	  	 IDENTIFYING NUMBER

OR BRIEF DESCRIPTION

			
	 None
	  				  	

 EXHIBIT B 

CALIFORNIA LABOR CODE SECTION 2870 

EMPLOYMENT AGREEMENTS, ASSIGNMENT OF RIGHTS 

“(a) Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention
to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that
either: (1) Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or (2) Result from any work performed by
the employee for the employer. (b) To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against
the public policy of this state and is unenforceable.” 

 EXHIBIT C 

GUARDANT HEALTH 
 TERMINATION
CERTIFICATION 
 This is to certify that I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports,
blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items belonging to Guardant Health (the “Company”). 

I further certify that I have complied with all the terms of the Company’s Confidential Information and Invention Assignment Agreement signed by me,
including the reporting of any inventions and original works of authorship (as defined therein) conceived or made by me (solely or jointly with others) covered by that agreement. 

I further agree that, in compliance with the Confidential Information and Invention Assignment Agreement, I will preserve as confidential all trade secrets,
confidential knowledge, data and other proprietary information relating to products, processes, know-how, designs, formulas, developmental or experimental work, computer programs, data bases, other original
works of authorship, customer lists, business plans, financial information and other subject matter pertaining to any business of the Company or any of its clients, consultants or licensees. 

 

			
	 Date:
	 	

  

	
	  
 Employee’s
Signature

	
	  
 Type/Print Employee’s
Name

 EXHIBIT D 

LIST OF PRIOR AGREEMENTS 
 None

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]