Document:

EX-10.25

 Exhibit 10.25 

 
 

 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into as of this __ of June 2021, by
and between ATAI Life Sciences US, Inc. a Delaware corporation (the “Company”) and Rolando Gutiérrez Esteinou (the “Executive”). The Company and the Executive may each be referred to in this Agreement
individually, as a “Party” and collectively, as the “Parties.” 
 RECITALS 

A. The Company and Executive previously entered into that certain Employment Agreement, dated as of January 1, 2021 (the “Prior
Agreement”). 
 B. Effective on the date upon which the Registration Statement on Form S-1 filed with the
Securities and Exchange Commission relating to the registered underwritten public offering of common shares of ATAI Life Sciences N.V. (“Parent”) becomes effective (the “Effective Date”), the Company desires to
continue to benefit from the services of Executive, and Executive desires to continue to render such services, on the terms and conditions set forth in this Agreement. 

C. Effective as of the Effective Date, this Agreement will supersede the Prior Agreement in all respects. 

AGREEMENT 
 NOW, THEREFORE, in
consideration of the compensation and benefits provided by the Company and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive, intending to be legally bound, hereby
agree as follows, effective on the Effective Date: 
 1. Employment. The Company shall continue to employ the Executive, and the
Executive shall be employed by the Company, under the terms and conditions set forth in this Agreement. 
 2. Term. The Executive
shall be employed at will, meaning that either the Company or the Executive may terminate the Agreement and the Executive’s employment at any time for any reason or no reason, with or without cause, subject to the terms of this Agreement. The
period of Executive’s employment hereunder is hereinafter referred to as the “Term”. 
 3. Position and Duties.
During the Term, the Executive shall continue to have the position of Chief Medical Officer of the Company and Parent, and shall have the duties and responsibilities commensurate with such position, as well as such other duties and
responsibilities as the board of directors (or equivalent, e.g., the Management Board or Supervisory Board) of the Parent (in either case, the “Board of Directors” or the “Board”), and/or the Chief Executive Officer
of the Company or Parent may from time-to-time direct to the extent consistent with his position and status as set forth above. The Company may request the Executive to
be present for a board meeting of the Parent in Germany. 

  
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 4. Obligations of Executive. The Executive shall devote the Executive’s services
to the Company and shall perform the Executive’s duties faithfully and to the best of the Executive’s ability. The Executive shall devote the Executive’s full working time and best efforts to the business and affairs of the Company
and the Affiliates (as defined below) and will use, best efforts and business judgment, skill and knowledge to the advancement of the Company’s and Affiliates’ interests and to the discharge of the Executive’s duties and
responsibilities under this Agreement. Executive shall not, at any time during Executive’s employment with the Company, directly or indirectly, render any business, commercial, or professional services that is directly related to the business
in which the Company or any Affiliates is now involved or becomes involved during the term of Executive’s employment, to any other person, firm, or organization, nor will Executive engage in any other activities that conflict with
Executive’s obligations to the Company (or any of its Affiliates), without the prior approval of the Board of Directors. For purposes of this Agreement, “Affiliate” means any person in control of, controlled by or under common
control with, the Company or Parent. 
 5. Salary and Benefits. In consideration of the Executive’s agreement to be employed by
the Company and for the services to be rendered under this Agreement, the Company agrees to provide compensation to the Executive as follows: 
  

	(a)	 Salary. During the Term, the Executive shall be paid an annual salary of $440,000 (as may adjusted from
time to time in accordance herewith, the “Base Salary”) payable in equal semi-monthly installments or otherwise in accordance with the Company’s standard payroll cycle. Any increases in
the Base Salary shall be determined in the sole discretion of the Board (and, for the avoidance of doubt, any increased Base Salary shall constitute “Base Salary” for all purposes hereof). 

 

	(b)	 Bonus. During the Term, the Executive shall be eligible to participate in an annual incentive program
established by the Board. Executive’s annual incentive compensation under such incentive program (the “Bonus”) shall be targeted at 40% of the Base Salary (the “Target Bonus”). The Bonus payable under the
incentive program shall be based on the achievement of performance goals to be determined by the Board. The payment of any Bonus pursuant to the incentive program shall be subject to Executive’s continued employment with the Company through the
applicable date(s) of payment, except as provided in Section 7. 

  

	(d)	 Reimbursement of Expenses. During the Term, the Company shall reimburse the Executive for his reasonable
business expenses incurred in the performance of his duties under this Agreement in accordance with such policies as the Company may adopt from time to time. 

  

	(f)	 Benefits. During the Term, the Executive shall be eligible to participate in any medical plans and other
benefits (including a 401(k) plan), now or hereafter available to employees of the Company, subject only to the Executive’s meeting the qualification requirements for such benefits. Among other benefits, the Executive and his family shall at
all times be eligible for coverage under the Company’s health insurance plan, as prescribed by the Company from time to time. 

  
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	(h)	 Vacation. During the Term, the Executive is allowed to take as much leave as he needs in accordance with
his manager and the flexible-time off policy of the Company. Thus, there is no accrued vacation time upon Executive’s termination for any reason. 

  

	(i)	 Sick Leave. Employees based in the US are entitled to 48 working hours (6 days) of paid sick leave per
calendar year. 

  

	(j)	 Equity Grants. During the Term, the Executive will be eligible for grants of equity or equity-based
awards under any equity compensation plans of Parent as in effect from time to time at the discretion of the Board. 

  

	(k)	 Withholdings. The Company shall, in accordance with applicable law, deduct from the Base Salary and all
other amounts payable by the Company under the provisions of this Agreement to the Executive, or, if applicable, to his estate, legal representatives or such other beneficiary designated in writing by the Executive, all social security taxes, all
federal, state and municipal taxes and all other charges and deductions that now or hereafter are required by law to be charges on the compensation of the Executive or charges on cash benefits (“Tax” or “Taxes”),
irrespective of whether the Company or Parent is required to deduct. 

  

	(l)	 Indemnification. The Executive shall be eligible for indemnification in accordance with the terms of the
Company’s or any Affiliates’ organizational documents and any indemnification agreements entered into with the Executive, which indemnification shall remain in effect after the Term as it applies to the Executive’s service to the
Company to the same extent it applies to other executives of the Company. 

 6. Termination. 

Executive’s employment hereunder may be terminated by the Company or Executive, as applicable, without any breach of this Agreement under
the following circumstances, and the Term will end on the Date of Termination. “Date of Termination” shall mean (i) if Executive’s employment is terminated by reason of Executive’s death, the date of Executive’s
death; or (ii) if Executive’s employment is terminated pursuant to Section 6(a)(ii)-(vi), either the date indicated in the Notice of Termination or the date specified by the Company pursuant to Section 6(b), whichever is earlier.

  

	 	(a)	 Circumstances. The Executive shall cease to be an employee of the Company upon the occurrence of
any of the following events: 

  

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

  

	 	(ii)	 Disability. If Executive has incurred a Disability, as defined below, the Company may terminate
Executive’s employment. 

  
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	 	(iii)	 Termination for Cause. The Company may terminate Executive’s employment for Cause, as defined
below. 

  

	 	(iv)	 Termination without Cause. The Company may terminate Executive’s employment without Cause.

  

	 	(v)	 Resignation from the Company with Good Reason. Executive may resign Executive’s employment with the
Company with Good Reason, as defined below. 

  

	 	(vi)	 Resignation from the Company without Good Reason. Executive may resign Executive’s employment with
the Company for any reason other than Good Reason or for no reason. 

  

	(b)	 Notice of Termination. Any termination of Executive’s employment by the Company or by Executive
under this Section 6 (other than termination pursuant to Section 6(a)(i)) shall be communicated by a written notice to the other Party hereto (i) indicating the specific termination provision in this Agreement relied upon,
(ii) setting forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated, if applicable, and (iii) specifying a Date of Termination
which, if submitted by Executive, shall be at least thirty (30) days following the date of such notice (a “Notice of Termination”); provided, however, that in the event that Executive delivers a Notice of
Termination to the Company, the Company may, in its sole discretion, change the Date of Termination to any date that occurs following the date of the Company’s receipt of such Notice of Termination and is prior to the date specified in such
Notice of Termination, but the termination will still be considered a resignation by Executive. A Notice of Termination submitted by the Company may provide for a Date of Termination on the date Executive receives the Notice of Termination, or any
date thereafter elected by the Company. The failure by either Party to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause or Good Reason shall not waive any right of the Party hereunder or
preclude the Party from asserting such fact or circumstance in enforcing the Party’s rights hereunder. 

  

	(c)	 Company Obligations upon Termination. Upon termination of Executive’s employment pursuant to any of
the circumstances listed in this Section 6, Executive (or Executive’s estate) shall be entitled to receive the sum of: (i) the portion of Executive’s Base Salary earned through the Date of Termination, but not yet paid to
Executive; (ii) any expense reimbursements owed to Executive pursuant to Section 5(d); and (iii) any vested benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a
participant in accordance with applicable law and the provisions of such plan. Except as otherwise expressly required by law (e.g., COBRA) or applicable plan, program, or arrangement or as specifically provided herein, all of Executive’s rights
to salary, severance, benefits, bonuses and other compensatory amounts hereunder (if any) shall cease upon the termination of Executive’s employment hereunder. In the event that Executive’s employment is terminated by the Company for any
reason, Executive’s sole and exclusive remedy shall be to receive the payments and benefits described in this Section 6(c) or Section 7, as applicable 

  
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	(d)	 Deemed Resignation. If the Executive’s employment with Company terminates for any reason, Executive
shall be deemed to have resigned at that time from any and all positions that he may have held with Company or any Affiliates, as designated by Company or any Affiliates, or any other positions that he held on behalf of Company or any Affiliates.
If, for any reason, this Section 6(d) is deemed insufficient to effectuate such resignation, following a reasonable opportunity to review, Executive hereby authorizes Company and any Affiliates to execute any documents or instruments consistent
herewith which Company may deem necessary or desirable to effectuate such resignation or resignations, and to act as his attorney-in-fact. The Company will provide
Executive with a copy of such documents. 

  

	(e)	 Mitigation. The Executive shall not be required to mitigate damages, or the amount of any payment
provided for under this Agreement by seeking other employment or otherwise after the termination of his employment hereunder, and any amounts earned by the Executive, whether from self-employment, as a common-law employee or otherwise, shall not reduce the amount of any payments under Section 7 otherwise payable to the Executive. For the avoidance of doubt, this Section 6(e) shall not affect
Section 7(b)(ii) or Section 7(c)(ii).7. Payments upon Termination. 

  

	(a)	 Termination for Cause, or Termination Upon Death, Disability or Resignation from the Company Without Good
Reason. If Executive’s employment shall terminate as a result of Executive’s death pursuant to Section 6(a)(i) or Disability pursuant to Section 6(a)(ii), pursuant to Section 6(a)(iii) for Cause, or pursuant to
Section 6(a)(vi) for Executive’s resignation from the Company without Good Reason, then Executive shall not be entitled to any severance payments or benefits, except as provided in Section 6(c). 

 

	(b)	 Termination without Cause, or Resignation from the Company with Good Reason. If Executive’s
employment is terminated by the Company without Cause pursuant to Section 6(a)(iv), or pursuant to Section 6(a)(v) due to Executive’s resignation with Good Reason, then except as otherwise provided under Section 7(c) and subject
to Executive signing on or before the 21st day following Executive’s Date of Termination, and not revoking, a release of claims substantially in the form attached as Exhibit A to this Agreement (the “Release”) and
Executive’s continued compliance with Section 9, Executive shall receive, in addition to payments and benefits set forth in Section 6(c), the following: 

 

	 	(i)	 an amount equal to 0.75 times the Executive’s then-current Base Salary, payable in the form of salary
continuation in regular installments over the nine (9) month period following the Date of Termination (the “Severance Period”) in accordance with the Company’s normal payroll practices; 

  
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	 	(ii)	 subject to Executive’s eligibility and election of continuation coverage of group health coverage pursuant
to COBRA, reimbursement of the cost of continuation coverage of group health coverage during the Severance Period; provided, that such reimbursement will cease if Executive receives coverage under a subsequent employer’s group health
plan prior to the end of such Severance Period, and provided, further, that, notwithstanding the foregoing, if the Company determines that it cannot provide the benefit required by this clause (b)(ii) without potentially violating
applicable law or incurring an excise tax, the Company shall in lieu thereof provide to Executive a taxable monthly payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s and the
Executive’s covered dependents’ group health coverage in effect on the Date of Termination (which amount shall be based on the premium for the first month of COBRA coverage), which payments shall be made regardless of whether Executive
elects COBRA continuation coverage and shall commence in the month following the month in which the Date of Termination occurs and end on the earliest of (x) the last day of the Severance Period, (y) the date that Executive and/or
Executive’s covered dependents become no longer eligible for COBRA and (z) the date Executive becomes eligible to receive healthcare coverage from a subsequent employer (and Executive agrees to promptly notify the Company of such
eligibility); and 

  

	 	(iii)	 the earned but unpaid portion of the Annual Bonus, if any, for any calendar year ending prior to the calendar
year in which the Date of Termination occurs (as determined by the Board in good faith for the performance year), which amount will be paid no later than April 30th of the year in which the Date
of Termination occurs. 

  

	(c)	 Change in Control. In lieu of the payments and benefits set forth in Section 7(b), in the event
Executive’s employment is terminated by the Company without Cause pursuant to Section 6(a)(iv), or pursuant to Section 6(a)(v) due to Executive’s resignation with Good Reason, in either case, on or within twelve (12) months
following the date of a Change in Control, subject to Executive signing on or before the 21st day following Executive’s Date of Termination, and not revoking, the Release and Executive’s continued compliance with Section 9, Executive
shall receive, in lieu of the payments and benefits set forth in Section 7(b), the following: 

  

	 	(i)	 an amount in cash equal to the sum of (A) 12 months of the Executive’s then-current Base Salary, and
(B) the then-current Target Bonus, payable in a lump sum within sixty (60) days following the Date of Termination; 

  

	 	(ii)	 the benefits set forth in Section 7(b)(ii), provided that solely for this purpose, “Severance
Period” shall mean the twelve (12) month period following the Date of Termination; and 

  

	 	(iii)	 all unvested equity or equity-based awards that vest solely based on the passage of time and are then held by
the Executive under any Company equity compensation plans shall immediately become 100% vested (with any such awards that vest in whole or in part based on the attainment of performance-vesting conditions being governed by the terms of the
applicable award agreement), and the time period that the Executive may have to exercise any stock options shall be extended for a period equal to the shorter of (x) 12 months or (y) the remaining term of the applicable stock option.

  
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 8. Certain Definitions. 

 

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

  

	 	(i)	 the commission by the Executive of, or indictment of the Executive for, (A) a felony or (B) any
misdemeanor involving moral turpitude, deceit, or intentional fraud (“indictment,” for these purposes, meaning an indictment, probable cause hearing or any other procedure pursuant to which an initial determination of probable or
reasonable cause with respect to such offense is made); 

  

	 	(ii)	 the Executive’s gross negligence, willful misconduct or repeated insubordination with respect to the
Company or any Affiliate; 

  

	 	(iii)	 the Executive’s use of alcohol or illegal drugs in a manner that impairs the performance of the
Executive’s obligations under this Agreement; 

  

	 	(iv)	 the Executive has engaged in misconduct that violates any applicable state or federal law prohibiting workplace
harassment, including but not limited to sexual harassment, and/or discrimination, or that violates any written policy of the Company adopted to prevent workplace harassment or discrimination; 

 

	 	(v)	 the Executive’s engagement in conduct which the Executive knows or reasonably should have known would
cause the Company to violate any state or federal law; or 

  

	 	(vi)	 (A) repeated failure of Executive to substantially perform his employment duties hereunder or (B) the
Executive’s material breach of any of the material obligations of the Executive under this Agreement if such breach is not cured within five (5) days of notice of such breach to the Executive from the Board of Directors.

  

	(b)	 Change in Control. “Change in Control” shall have the following meaning for purposes of this
Agreement: 

  

	 	(i)	 any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, as amended (the “Act”) (other than Parent, any Affiliate, or any trustee, fiduciary or other person or entity holding securities under any employee benefit plan or trust of Parent or any Affiliate), together with all
“affiliates” and “associates” (as such terms are defined in Rule 12b-2 under the Act) of such person, shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Act), directly or indirectly, of securities of Parent representing fifty percent (50%) or more of the combined voting power of Parent’s then outstanding securities having the right to vote in an
election of the Board (“Voting Securities”) (in such case other than as a result of an acquisition of securities directly from Parent); or 

  

  
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	 	(ii)	 the consummation of (A) any consolidation or merger of Parent where the shareholders of Parent,
immediately prior to the consolidation or merger, would not, immediately after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the Act), directly or indirectly,
shares representing in the aggregate more than fifty percent (50%) of the voting shares of Parent issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation, if any), or (B) any sale or other transfer (in
one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of Parent. 

Notwithstanding the foregoing, a Change in Control shall not be deemed to have occurred (x) as a result of an initial public offering or
direct listing of Parent’s equity securities or other financing transaction, (y) as a result of a transaction that occurs to change the domicile of Parent, or (z) for purposes of the foregoing clause (i) solely as the result of
an acquisition of securities by Parent that, by reducing the number of shares of Voting Securities outstanding, increases the proportionate number of Voting Securities beneficially owned by any person to fifty percent (50%) or more of the combined
voting power of all of the then outstanding Voting Securities; provided, however, that if any person referred to in this sentence shall thereafter become the beneficial owner of any additional shares of Voting Securities (other than pursuant to a
stock split, stock dividend, or similar transaction or as a result of an acquisition of securities directly from Parent) and immediately thereafter beneficially owns fifty percent (50%) or more of the combined voting power of all of the then
outstanding Voting Securities, then a Change in Control shall be deemed to have occurred for purposes of the foregoing clause (i). Notwithstanding the foregoing, a Change in Control shall not have occurred unless the transaction or event
constituting the Change in Control would also constitute a “change in control event” (as defined in Treasury Regulation §1.409A-3(i)(5)) under Section 409A (defined below). 

 

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

  

	(d)	 Disability. “Disability” shall mean termination because the Executive is unable due to a
physical or mental condition to perform the essential functions of his position with or without reasonable accommodation for six (6) months in the aggregate during any twelve (12) month period or based on the written certification by two
licensed physicians of the likely continuation of such condition for such period. This definition shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave Act, and other applicable law. In
the event Executive’s employment is terminated based on the Executive’s Disability, then the Executive shall not be entitled to any severance payments or benefits, except as provided in Section 6(c).  

  
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	(e)	 Good Reason. “Good Reason” shall mean the Company’s material breach of any of the
material obligations of the Company under this Agreement. Notwithstanding the foregoing, no Good Reason will have occurred unless and until: (a) Executive resigns within ninety (90) days of Executive’s knowledge of the occurrence of
the facts and circumstances underlying the Good Reason event, (b) Executive has provided the Company, within sixty (60) days of Executive’s knowledge of the occurrence of the facts and circumstances underlying the Good Reason event,
written notice stating with specificity the applicable facts and circumstances underlying such finding of Good Reason; (c) the Company has had an opportunity to cure the same within thirty (30) days after the receipt of such notice; and
(d) the Company shall have failed to so cure within such period. 

  

	 	9.	 Restrictive Covenants. 

 

	(a)	 Confidentiality. The Parties have previously executed that certain proprietary Confidentiality and
Developments Agreement, dated as of January 1, 2021 (the “Confidentiality and Developments Agreement”), which remains in full force and effect and is hereby made a part of, this Agreement. 

 

	(b)	 Noncompetition. During the Term and for a period of one (1) year after the Date of Termination,
Executive shall not, without the Company’s prior written consent, whether individually, as a director, manager, member, stockholder, partner, owner, employee, consultant, advisor, agent, or in any other capacity, other than on behalf of the
Company or any Affiliates, directly or indirectly, organize, establish, own, operate, manage, control, engage in, participate in, invest in, permit Executive’s name to be used by, act as a consultant or advisor to, render services for (alone or
in association with any person, firm, corporation or business organization), or otherwise assist any person that engages in any business which competes with any portion of the Competitive Business (as defined below) anywhere in the world.
Notwithstanding the prior sentence, nothing shall prevent Executive from owning, for passive investment purposes not intended to circumvent this Agreement, less than three percent (3%) of the publicly-traded
common equity securities of any such person. Executive agrees and acknowledges that the Executive has the means to support Executive and Executive’s dependents other than by violating the provisions of this clause (b), and the provisions of
this clause (b) will not impair such ability. For purposes of this Section 9, “Competitive Business” shall mean the research, development and/or commercialization (collectively, “Develop”) of any compound
that has psychedelic, entactogenic and/or oneirophrenic properties, which is being Developed for the treatment of a mental health disease or disorder, and which Development would be competitive to any business conducted by the Company or any
Affiliate or any business of which Executive knows the Company or any Affiliate has specific plans to engage in on the Date of Termination. 

  

	(c)	 Nonsolicitation. During the Term and for a period of two (2) years after the Date of Termination,
Executive will not directly or indirectly (i) solicit any individual who, at the time of the solicitation is, or within the six (6) month prior to the Date of Termination was, an employee of or consultant to Company or any Affiliate to
terminate his or her relationship with the Company or any Affiliate; or (ii) attempt to induce any clients, licensors, licensees or customers of Company or any Affiliate to terminate, breach or materially change any contractual or other
relationship with Company or any Affiliate. 

  
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	(d)	 Use of Material Undisclosed Information. The Executive acknowledges that it is the policy of the Company
that all employees are prohibited from benefiting from the possession of material undisclosed information concerning the Company or any Affiliates, providers or business partners (in each case provided they are listed on a national or international
securities exchange) with respect to trading in the public securities markets. The Executive covenants and agrees that he will abide by such policy. 

  

	(e)	 Reasonable Restrictions. The Executive further acknowledges and agrees that the provisions of this
Section 9 are reasonable and properly required for the adequate protection of the Competitive Business. Executive represents and warrants that (i) the restrictive provisions of this Section 9 will not substantially impair
Executive’s ability to earn a livelihood, nor will such provisions cause Executive undue hardship, and (ii) Executive has fully and carefully read this Agreement and has been advised by the Company to consult with an attorney of
Executive’s choice and that Executive fully understands and agrees with the provisions of this Agreement, including this Section 9. 

  

	(f)	 Blue Penciling. If, at the time of enforcement of any of the provisions of this Section 9, a court
shall hold that the duration, scope, geographic area or other restrictions stated herein are unreasonable under circumstances then existing, Executive and the Company agree that the maximum duration, scope, geographic area or other restrictions
deemed reasonable under such circumstances by such court shall be substituted for the stated duration, scope, geographic area or other restrictions. 

  

	 	10.	 Cooperation. 

  

	(a)	 Third-Party Agreements and Rights. The Executive hereby
confirms that the Executive is not bound by the terms of any agreement with any previous employer or other party which restricts in any way the Executive’s use or disclosure of information or the Executive’s engagement in any business. The
Executive represents to the Company that the Executive’s execution of this Agreement, the Executive’s continued employment with the Company and the performance of the Executive’s duties for the Company or any Affiliates will not
violate any obligations the Executive may have to any such previous employer or other party. In the Executive’s work for the Company or any Affiliates, the Executive will not disclose or make use of any information in violation of any
agreements with or rights of any such previous employer or other party, and the Executive will not bring to the premises of the Company or any Affiliates any copies or other tangible embodiments of non-public
information belonging to or obtained from any such previous employment or other party. 

  

	(b)	 Litigation and Regulatory Cooperation. During and after the Executive’s employment with the
Company, the Executive shall reasonably cooperate with the Company and any Affiliate in the defense or prosecution of any claims or actions now in existence or that may be brought in the future against or on behalf of the Company or any Affiliate
that relate to events or occurrences that transpired while the Executive was employed by the Company provided that such cooperation after the termination of Executive’s employment with the Company does not otherwise interfere with the
Executive’s subsequent employment and/or engagement with a subsequent employer and/or third parties. The 

  
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Executive’s reasonable cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and
to act as a witness on behalf of the Company and any Affiliate at mutually convenient times. During and after the Term, the Executive also shall cooperate reasonably with the Company and any Affiliate in connection with any investigation or review
of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company. The Company or the applicable Affiliate shall reimburse the
Executive for any reasonable out-of-pocket expenses (including reasonable legal fees) incurred in connection with the Executive’s performance of obligations
pursuant to this Section 10(b). 

  

	(c)	 Injunction. The Executive acknowledges that any material breach by him of his obligations under this
Agreement, including but not limited to the restrictions set forth in Section 9 hereof, would result in irreparable injury to the Company or an Affiliate. The Company or the applicable Affiliate shall, therefore, be entitled, without
restricting the Company or such applicable Affiliate(s) from other legal and equitable remedies, to injunctive and other equitable relief to prevent or restrain the breach of this Agreement and to withhold compensation and benefits from the
Executive if he fails to comply with this Agreement. Nothing in this Section shall be deemed to restrict any other remedy or right the Company, any Affiliate or the Executive may have for any other breach of this Agreement. 

 

	(d)	 Consent to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce
Section 9 of this Agreement, the Parties hereby consent to the jurisdiction of the State of New York and County of New York. Accordingly, with respect to any such court action, the Executive (a) submits to the personal jurisdiction of such
courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process. 

11. Assignment. This Agreement is personal to Executive, and Executive may not assign or delegate any of his rights or obligations under
this Agreement without first obtaining the written consent of the Company. The Company may assign and delegate its rights and obligations under this Agreement, in each case in whole but not in part, without the prior consent of the Executive in the
event that, and only in the event that, (a) the Company shall effect a reorganization, consolidate with, or merge into, any other corporation, partnership, organization or other entity, or transfer all or substantially all of its properties or
assets to any other corporation, partnership, organization or other entity, (b) such corporation, partnership, organization or other entity referred to in the preceding clause “(a)” including without limitation any affiliate thereof
shall by operation of law or expressly in writing assume all obligations of the Company hereunder as fully as if it had been originally made a party to this Agreement. 

12. Notices. All notices required under this Agreement shall be given by personal delivery deemed given on the date of receipt, or by
postage prepaid certified or registered mail, return receipt requested, addressed to the Company or to the Executive as follows, or to such other address as either Party shall notify the other by like notice: 

  
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	 If to the Company:
	  	 ATAI Life Sciences US, Inc.
 c/o Mindspace

Krausenstraße 9-10

10117 Berlin, Germany

		  	 with a copy to (by email)
 Kristina Beirne,
Esq., Dentons US,
 LLP (kristina.beirne@dentons.com)
  

	 If to the Executive:
	  	 Rolando Gutiérrez-Esteinou

####

 If sent by mail, such notice shall be deemed to have been given on the date of delivery set forth on the registered or
certified mail receipt or upon the third (3rd) day after mailing if delivery is refused. 

13. Expenses of Enforcement. In the event that any suit or legal proceeding is brought to enforce any provision of this Agreement, each
party shall be responsible for their expenses, including reasonable attorneys’ fees and costs. 
 14. Advice of Counsel. The
Executive acknowledges that, in executing this Agreement, the Executive has had the opportunity to seek the advice of independent legal counsel, and has 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. 
 15. Section 409A. This Agreement is intended to
comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and the Parties hereby agree to amend this Agreement as and when necessary or desirable to
conform to or otherwise properly reflect any guidance issued under Section 409A after the date hereof without violating Section 409A. In case any one or more provisions of this Agreement fails to comply with the provisions of
Section 409A, the remaining provisions of this Agreement shall remain in effect, and this Agreement shall be administered and applied as if the non-complying provisions were not part of this Agreement.
The Parties in that event shall endeavor to agree upon a reasonable substitute for the non-complying provisions, to the extent that a substituted provision would not cause this Agreement to fail to comply with
Section 409A, and, upon so agreeing, shall incorporate such substituted provisions into this Agreement. A termination of the Executive’s employment hereunder shall not be deemed to have occurred for purposes of any provision of this
Agreement providing for the payment of any amount or benefit constituting “deferred compensation” under Section 409A upon or following a termination of employment unless such termination is also a “separation from service”
within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” In the
event that any payment or benefit made hereunder or under any compensation plan, program or arrangement of the Company would constitute payments or benefits pursuant to a non-qualified deferred compensation
plan within the 

  
 12 

 

 
  

 
meaning of Section 409A and, at the time of the Executive’s “separation from service” the Executive is a “specified employee” within the meaning of
Section 409A, then any such payments or benefits shall be delayed until the six-month anniversary of the date of Executive’s “separation from service”. Each payment made under this
Agreement shall be designated as a “separate payment” within the meaning of Section 409A. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in
accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A. All reimbursements for expenses paid pursuant hereto that
constitute taxable income to the Executive shall in no event be paid later than the end of the calendar year next following the calendar year in which the Executive incurs such expense or pays such related tax. Unless otherwise permitted by
Section 409A, the right to reimbursement or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another benefit and the amount of expenses eligible for reimbursement,
or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, respectively, in any
other taxable year. 
 16. Section 280G. 
  

	(a)	 Notwithstanding anything contained in this Agreement to the contrary, in the event that any payment or benefit
received or to be received by the Executive (whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement) (all such payments and benefits being hereinafter referred to as the “Total Payments”) would
be subject (in whole or part), to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code
in any other plan, arrangement or agreement, then such remaining Total Payments shall be reduced, to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax but only if (i) the net amount of such Total
Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such
reduced Total Payments) is greater than or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise
Tax to which Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments). 

 

	(b)	 For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise
Tax, (i) no portion of the Total Payments the receipt or enjoyment of which Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be
taken into account; (ii) no portion of the Total Payments shall be taken into account which, in the written opinion of an independent, nationally recognized accounting firm (the “Independent Advisors”) selected by the Company,
does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall
be taken into account which, in the opinion of Independent Advisors, 

  
 13 

 

 
  

	 	
constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base amount” (as defined in
Section 280G(b)(3) of the Code) allocable to such reasonable compensation; and (iii) the value of any non-cash benefit or any deferred payment or benefit included in the Total Payments shall be
determined by the Independent Advisors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. 

17. Miscellaneous. 
  

	(a)	 This Agreement shall be governed by, and construed exclusively in accordance with, the laws of the State of New
York without giving effect to any choice or conflict of law rules to the contrary. Each Party submits to the nonexclusive jurisdiction of any United States District Court located in New York, New York and of any New York state court sitting in New
York, New York for purposes of all legal proceedings arising out of or relating to this Agreement or the transactions contemplated hereby. Each Party irrevocably waives any objection which it may now or hereafter have to the laying of venue in any
proceeding brought in such a court, and any claim that any such proceeding was brought in an inconvenient forum. 

  

	(b)	 Should any provision of this Agreement be held invalid or unenforceable, the remainder of this Agreement shall
not be affected and shall be enforceable to the fullest extent permitted at law or in equity. 

  

	(c)	 This Agreement contains the entire agreement between the Parties concerning the subject matter hereof and
supersedes all prior conversations, proposals, negotiations, understandings and agreements, whether written or oral, concerning the subject matter hereof, including, without limitation, the Prior Agreement. 

 

	(d)	 This Agreement shall not be amended, altered, changed, modified, supplemented or rescinded in any manner except
by written agreement executed by both Parties expressly referring to this Agreement. 

  

	(e)	 No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving Party.
The failure of any Party to require the performance of any term or obligation of this Agreement, or the waiver by any Party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a
waiver of any subsequent breach. 

  

	(f)	 This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be taken to be an original; but such counterparts shall together constitute one and the same document. 

  

	(g)	 The Parties recognize that litigation in federal or state courts or before federal or state administrative
agencies of disputes arising out of the Executive’s employment with the Company or out of this Agreement, or the Executive’s termination of employment or termination of this Agreement, may not be in the best interests of either the
Executive or the Company, and may result in unnecessary costs, delays, complexities, and uncertainty. The Parties agree that any dispute between the Parties arising out of or relating to the negotiation, execution, performance or termination of this
Agreement or the Executive’s employment, including, but not limited to, any claim arising out of this Agreement, claims under Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, the Age Discrimination in
Employment Act of 1967, the Americans with Disabilities Act of 1990, Section 1981 of the Civil Rights Act of 1966, as amended, the Family Medical Leave Act, the Executive Retirement Income Security Act, and any similar federal, state or local
law, statute, regulation, or any common law doctrine, whether that dispute arises during or after employment, shall be settled by binding arbitration in accordance with the National Rules for the Resolution of Employment Disputes of the American
Arbitration Association; provided, however, that this dispute resolution provision shall not apply to any separate agreements between the Parties that do not themselves specify arbitration as an exclusive remedy. The location
for the arbitration shall be the New York metropolitan area. Any award made by such panel shall be final, binding and conclusive on the Parties for all purposes, and judgment upon the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof. The arbitrators’ fees and expenses and all administrative fees and expenses associated with the filing of the arbitration shall be borne by the Company; provided, however, that at the Executive’s
option, Executive may voluntarily pay up to one-half the costs and fees. The Parties acknowledge and agree that their obligations to arbitrate under this Section survive the termination of this Agreement and
continue after the termination of the employment relationship between Executive and the Company. The Parties each further agree that the arbitration provisions of this Agreement shall provide each Party with its exclusive remedy, and each Party
expressly waives any right it might have to seek redress in any other forum, except as otherwise expressly provided in this Agreement. By election arbitration as the means for final settlement of all claims, the Parties hereby waive their
respective rights to, and agree not to, sue each other in any action in a Federal, State or local court with respect to such claims, but may seek to enforce in court an arbitration award rendered pursuant to this Agreement. The Parties specifically
agree to waive their respective rights to a trial by jury, and further agree that no demand, request or motion will be made for trial by jury. 

[Signature page to follow] 

  
 14 

 

 
  

 IN WITNESS WHEREOF, the Parties have duly executed this Agreement as of the date set forth
opposite their respective names below. 
  

			
	COMPANY
	
	ATAI LIFE SCIENCES N.V.
		
	By:	 	  

		 	Name: Florian Brand
		 	Title: CEO
	
	ATAI LIFE SCIENCES US, INC.
		
	By:	 	  

		 	Name: Srinivas Rao
		 	Title: CSO
	
	EXECUTIVE
	
	  

	Rolando Gutiérrez Esteinou

 

 
  

 EXHIBIT A 

Separation Agreement and Release 

This Separation Agreement and Release (“Agreement”) is made by and between Rolando Gutiérrez Esteinou
(“Executive”) and ATAI Life Sciences US, Inc., a Delaware corporation (together with any successor, the “Company”) (collectively referred to as the “Parties” or individually referred to as a
“Party”). Capitalized terms used but not defined in this Agreement shall have the meanings set forth in the Employment Agreement (as defined below). 

WHEREAS, the Parties have previously entered into that certain Amended and Restated Employment Agreement, dated as of _____, 2021 (the
“Employment Agreement”); and 
 WHEREAS, in connection with Executive’s termination of employment with the Company or
a subsidiary or affiliate of the Company effective ________, 20__, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that Executive may have against the Company and any of the
Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to Executive’s employment with or separation from the Company or its subsidiaries or affiliates but, for the avoidance of doubt,
nothing herein will be deemed to release any rights or remedies in connection with Executive’s ownership of vested equity securities of the Company or one if its affiliates, vested benefits or Executive’s right to indemnification by the
Company or any of its affiliates pursuant to contract or applicable law (collectively, the “Retained Claims”). 
 NOW,
THEREFORE, in consideration of the severance payments and benefits described in Section [7(b)/7(c)] of the Employment Agreement, which, pursuant to the Employment Agreement, are conditioned on Executive’s execution and non-revocation of this Agreement, and in consideration of the mutual promises made herein, the Company and Executive hereby agree as follows: 

1. Severance Payments and Benefits; Salary and Benefits. The Company agrees to provide Executive with the severance payments and
benefits described in Section [7(b)/7(c)] of the Employment Agreement, payable at the times set forth in, and subject to the terms and conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject to the terms and
conditions of the Employment Agreement, the Company shall pay or provide to Executive all other payments or benefits described in Section 6(c) of the Employment Agreement, subject to and in accordance with the terms thereof. 

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

  
 1 

 

 
  

 (a) any and all claims relating to or arising from Executive’s employment or service
relationship with the Company or any of its direct or indirect subsidiaries or affiliates and the termination of that relationship; 
 (b)
any and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of any shares of stock or other equity interests of the Company or any of its affiliates, including, without limitation, any claims for fraud,
misrepresentation, breach of fiduciary duty, breach of duty under applicable state law, and securities fraud under any state or federal law; 

(c) any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment;
retaliation; breach of contract, both express and implied; breach of covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional
misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment;
conversion; and disability benefits; 
 (d) any and all claims for violation of any federal, state, or municipal statute, including, but not
limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act; the Fair Credit Reporting Act; the Age
Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; and the Sarbanes-Oxley
Act of 2002; 
 (e) any and all claims for violation of the federal or any state constitution; 

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

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

(h) any and all claims arising out of the wage and hour and wage payments laws and regulations of the state or states in which Executive has
provided service to the Company or any of its affiliates (including without limitation the New York Labor Law (including but not limited to all provisions prohibiting discrimination and retaliation, and all provisions regulating wage and hour law);
and 
 (i) any and all claims for attorneys’ fees and costs. 

Executive agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters
released. This release does not release claims that cannot be released as a matter of law, including, but not limited to, Executive’s right to report possible violations of federal law or regulation to any governmental agency or entity in
accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or any other whistleblower protection provisions of state or federal law or
regulation and any right to receive an award for information provided thereunder, Executive’s right to file a charge with or participate in a charge by the Equal Employment Opportunity Commission, or any other local, state, or federal
administrative body or government agency that is authorized to enforce or administer laws related to employment, against the Company for discrimination (with the understanding that Executive’s release of claims herein bars Executive from
recovering such monetary relief from the Company or any Releasee for any alleged discriminatory treatment), claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law, claims to
continued participation in certain of the Company’s group benefit plans pursuant to the terms and conditions of COBRA, claims to any benefit entitlements vested as the date of separation of Executive’s employment, pursuant to written terms
of any employee benefit plan of the Company or its affiliates and Executive’s right under applicable law and any Retained Claims. This release further does not release claims for breach of Section 6(c) or Section [7(b)/7(c)] of the
Employment Agreement. 
  

  
 2 

 

 
  

 3. Acknowledgment of Waiver of Claims under ADEA. Executive understands and
acknowledges that Executive is waiving and releasing any rights Executive may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Executive understands and
agrees that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the date Executive signs this Agreement. Executive understands and acknowledges that the consideration given for this waiver and release
is in addition to anything of value to which Executive was already entitled. Executive further understands and acknowledges that Executive has been advised by this writing that: (a) Executive should consult with an attorney prior to executing
this Agreement; (b) Executive has 21 days within which to consider this Agreement, and the Parties agree that such time period to review this Agreement shall not be extended upon any material or immaterial changes to this Agreement;
(c) Executive has seven business days following Executive’s execution of this Agreement to revoke this Agreement pursuant to written notice to the Company; (d) this Agreement shall not be effective until after the revocation period
has expired; and (e) nothing in this Agreement prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or
costs for doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement and returns it to the Company in less than the 21 day period identified above, Executive hereby acknowledges that Executive has freely and
voluntarily chosen to waive the time period allotted for considering this Agreement. 
 4. Severability. In the event that any
provision or any portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in full
force and effect without said provision or portion of provision. 
 5. No Oral Modification. This Agreement may only be amended in a
writing signed by Executive and a duly authorized officer of the Company. 
 6. Governing Law; Dispute Resolution. This Agreement
shall be subject to the provisions of Section 12 and Section 17(a) and (g) of the Employment Agreement. 
 7. Effective
Date. Executive has seven business days after Executive signs this Agreement to revoke it and this Agreement will become effective on the day immediately following the seventh business day after Executive signed this Agreement, so long as it has
been signed by the Parties and has not been revoked by Executive before that date. 
 8. Voluntary Execution of Agreement. Executive
understands and agrees that Executive executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of Executive’s claims against the
Company and any of the other Releasees. Executive acknowledges that: (a) Executive has read this Agreement; (b) Executive has not relied upon any representations or statements made by the Company that are not specifically set forth in this
Agreement; (c) Executive has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of Executive’s own choice or has elected not to retain legal counsel; (d) Executive understands the terms
and consequences of this Agreement and of the releases it contains; (e) Executive is fully aware of the legal and binding effect of this Agreement; and (f) Executive has had 21 days to review this Agreement.     

  
 3 

 

 
  

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

							
		 		 		 	EXECUTIVE
				
		 		 		 	  

	Dated:                    	 		 		 	Rolando Gutiérrez Esteinou
				
		 		 		 	ATAI LIFE SCIENCES US, INC.
				
	Dated:                    	 		 	By:	 	  

		 		 		 	Name:
		 		 		 	Title:

  
 4Exhibit 10.1

 

 

 

June 9, 2021

 

To:      Giancarlo Currarino

 

Re:      Letter of Understanding for
Secondment Assignment with O-I Italy

 

This letter confirms the terms and conditions
for your international assignment with O-I Italy S.p.A. (hereinafter “O-I Italy” or “Host Company”). The assignment
is subject to your acceptance of these terms and conditions and to the granting of a work permit by the authorities in Italy.

 

The effective date of the assignment is 1 September 2021,
or as soon as the necessary visa/work permit has been approved and you have begun your assignment in Italy. During the period of this
assignment, your employer will be SeaGate, Inc. (hereinafter “SeaGate” or “Home Company”), and you will be
assigned to perform services for O-I Italy.

 

For purposes of this assignment, your job title
will be Managing Director, South East Europe, reporting to Vitaliano Torno, President, Business Operations and O-I Europe.

 

Your point of origin is designated as Perrysburg,
Ohio, United States. Your work location will be Origgio, Italy.

 

It is expected that the duration of this assignment
will be three years from the effective date, with the possibility of a shortened or extended assignment, consistent with business needs.

 

Please note that nothing in this assignment letter
alters the at-will status of your employment, which means that your employment is of indefinite duration and either you or the Home Company
may terminate our employment relationship at any time for any reason or no reason, with or without cause, and with or without notice. Any
statements to the contrary that may have been made to you are superseded and cancelled by this assignment letter.

 

COMPENSATION

 

Base Salary – Throughout your assignment,
you will remain covered by the Compensation Plans of Home Company. Current salary and any exceptions on pay structure are noted in Schedule
1. Your Host Company will maintain a record of your Home Company gross salary, and this will be reviewed annually in accordance with Home
Company policy. Regardless of the length of this assignment, your base salary will serve as the benchmark for the calculation of allowances
and differentials, as well as for the determination of salary upon transfer to another position.

 

Short Term Incentive –You will be eligible
to participate in the O-I short term incentive (“STI”) program for the South East Europe Country Group.  Any incentive
paid under this program will be determined based on the criteria established at the beginning of each performance year.  To receive
an STI award, you must be actively employed through the date the award is paid.  See Schedule 1 for participation level.

 

Long Term Incentive – You will be
eligible to participate in O-I's Long Term Incentive (“LTI”) program.  Equity compensation grants are made in
March of each year to certain eligible employees following the review and approval of the Compensation Committee of the O-I
Glass, Inc. Board of Directors.  Specific details are provided each year at the time of grant.  See Schedule 1 for
participation level.

 

    
	Giancarlo Currarino Global Strategic Assignment Letter – June 2021	Page 1 of 6

     

    

 

 

 

In addition to your Home Company compensation,
benefits, and executive perquisites, you will be entitled to receive other assignment allowances, which are described below and in Schedule
1.

 

HOUSING

 

Host Country Housing – You will be provided
a monthly housing allowance budget for a housing rental. The final housing allowance will be set at the actual monthly lease cost. Housing
costs above this amount will be your responsibility.  Any taxes due on the housing benefit will be paid by the Host Company.

 

Host Country Utilities – You will be responsible
for the monthly payment of all utilities while on assignment in Italy.

 

Home Maintenance Allowance – You are not
eligible for a monthly home maintenance allowance.

 

RELOCATION BENEFITS

 

You and your eligible family members will be relocated
from Perrysburg, Ohio to Origgio, Italy. You will be provided with the following additional relocation benefits. SIRVA is the relocation
services provider. You will be required to sign a repayment agreement prior to the initiation of relocation services.

 

Goods and Services (“G&S”) Differential
 –The G&S Differential provides, at a given salary (maximum equivalent of USD 200,000) and family size at the host location,
the difference between the cost of goods and services in the host country and the home country and is designed to protect assignees from
changes in home and host country exchange rates and inflation (or price levels).  Conceptually, the G&S Differential, when combined
with home country spendable income (the portion of your salary spent on goods and services at home at a given salary level and family
size), provides approximately the same purchasing power in the host country that an assignee would have in the home country. The G&S
Differential is provided by Mercer, an internationally recognized consulting firm, and is expressed by a cost of living index, which may
be positive or negative.

 

The G&S Differential will be paid on a regular
pay period basis and payment will begin once you have moved into permanent accommodation at the host location. It will be reviewed each
quarter of the calendar year and will be adjusted up or down depending on the appropriate cost of living index.  The cost of
living index shows the difference in living costs (food, gasoline, entertainment, etc.)
between cities and fluctuates with pricing levels and the exchange rate between the two currencies.  The Host Company
will pay all actual taxes imposed on the G&S Differential.

 

The G&S Differential will be updated and communicated
to you prior to the onset of your first G&S Differential payment.

 

The Home Company will not apply a negative G&S
Differential (to reduce an assignee’s pay).  Although negative, the G&S Differential will continue to be reviewed each
quarter.  Should the G&S Differential become positive, the assignee will receive the G&S Differential payment.

  

    
	Giancarlo Currarino Global Strategic Assignment Letter – June 2021	Page 2 of 6

     

    

 

 

 

Pre-transfer Visit - You and your family are eligible
for a pre-transfer visit to Italy. A destination services provider will be assigned to you and will coordinate a tour of the area, viewing
of homes, arranging for school visits, etc.

 

Home Visit – You will be eligible for reimbursement
of return economy airfare for you, your spouse and eligible relocating dependents to visit your point of origin once per year, after having
completed 6 months of the assignment. The cost of a mid-size rental car for the home visit will also be reimbursed. Vacation days are
to be used for the home visit, except that the first and last days will be travel days and not counted as vacation days.

 

Shipment of Personal and Household Goods –
Your Home Company will pay the reasonable cost of shipment of your personal and household belongings from the United States to Italy.
O-I Italy will pay the reasonable cost to ship your personal and household belongings back to your home at the conclusion of the assignment,
unless the assignment concludes through a for-cause termination or a voluntary resignation.

 

Host Country Transportation - You will be provided
with one automobile while on assignment, in accordance with host country policy. This benefit may be provided through a company leased
vehicle, a long term rental program or through a monthly car allowance processed through host country payroll.

 

Auto (Lease Cancellation/Loss on Sale) –
Unless your assignment concludes through a for-cause termination or a voluntary resignation, upon your repatriation to the United States,
you are eligible for reimbursement of the lease cancellation or loss on sale for one vehicle in Italy. You will be paid the difference
between the initial purchasing price and the selling price based on normal depreciation and the Kelley Blue Book value of your vehicle.

 

Spousal Career Support Allowance - You are eligible
for a Career Support Allowance benefit of up to USD 5,000. This benefit is for the accompanying spouse/partner to assist him/her in maintaining
or pursuing a career, pursuing a course of study, and/or securing employment in the host country (if permitted). This benefit is available
for 12 months from the effective date of your assignment.

 

OTHER BENEFITS

 

Emergency Leave – In the event of the death
of a member of your or your spouse’s immediate family, O-I will provide round-trip economy class airfare to the home country for
you, your spouse and relocated eligible dependents. Immediate family is defined as mother, father, brother, sister and child. Reimbursement
for emergency travel in the event of the death of a grandparent is limited to the grandchild. Time off with pay is limited to the bereavement
entitlement in the Home Company.

 

Health Care – During the term of this assignment,
you, your spouse and your eligible family members will be enrolled in the O-I International Health Care Plan, Blue Cross Blue Shield International.
A monthly contribution towards health care coverage will be automatically deducted from your paycheck. The amount of contribution is subject
to change in accordance with O-I policy.

 

Vacation – Your vacation eligibility will
be in accordance with Home Company policy. Your vacation schedule must be approved by your assignment supervisor.

 

    
	Giancarlo Currarino Global Strategic Assignment Letter – June 2021	Page 3 of 6

     

    

 

 

 

Public Holidays – You will observe the O-I
Italy public holiday schedule.

 

Dependent Education Assistance – You are
eligible for the Dependent Education Assistance benefit. Reimbursement for host country private/international education will be provided
for a Host Company pre-approved school as follows: reasonable and customary registration fees; tuition and lab fees; required school books
and school provided transportation.

 

Language Lessons – You and your relocating family members are
eligible for language lessons, limited to 100 hours per person. Lessons will focus on both verbal and written communication skills. Lessons
may begin prior to or upon arrival in the host location.

 

Immigration Expenses – O-I will arrange
and pay for the appropriate immigration expenses, including passports, work permits, visas, and any other legally required documentation
for you, your spouse and eligible relocating dependents.

 

Any assignee allowances and differentials paid
to you during the term of this assignment will cease when the assignment ends.

 

O-I reserves the right to improve, reduce, eliminate
or change the nature, type or amount of the benefits and allowances and differentials provided to employees at any time, with or without
prior notice.  You will be notified of any impacts to you of any such changes.

 

TAXES AND SOCIAL CHARGES

 

Tax and Tax Returns – You will be tax equalized
to the United States (Perrysburg, Ohio). It will remain your responsibility to fully and completely report to the appropriate government
authorities, all information required for income tax purposes.

 

To assist you with this, the Home Company will
engage the services of a tax consultant, who will prepare and file all necessary tax returns. The exact method of handling and accounting
for your taxes will depend upon the specific conditions in your home country and the country to which you are assigned.

 

Hypothetical Tax – A hypothetical tax will
be deducted from your salary each pay period, and will be an amount corresponding to the income taxes you would pay on your employment
income, were you working in your home country. Normal social taxes will be withheld. At the conclusion of each tax year, a tax equalization
summary will be prepared. Tax equalization summaries may result in you having an obligation to repay monies to O-I.

 

If you terminate your employment with O-I, you
will be required to repay to O-I the full amount of any tax advances then outstanding. You authorize O-I to deduct from any payments due
to you at termination any outstanding balance due.

 

GENERAL

 

Emergency Medical and Evacuation Assistance –
Emergency medical and evacuation assistance is provided to you and your relocating family members. If you have questions about this service
and/or your health care, you can call the Global Emergency Assistance Program at +1 877-242-5580 or the number on the back of your Member
ID card. This number is staffed 24 hours per day, 7 days per week.

 

    
	Giancarlo Currarino Global Strategic Assignment Letter – June 2021	Page 4 of 6

     

    

 

 

 

Work Schedule – You agree that you will
observe the work schedule in effect at your place of assignment, and that you will be expected to fulfill any responsibilities your assignment
requires, from time to time, beyond this schedule.

 

Employment Restrictions – It is understood
that in accepting this assignment you agree not to engage in any other employment, or in any business enterprise, that may in any way
conflict with your service to, or the interest of, either the Home or Host Company. You will refrain from political activity in Italy.

 

Waiver of Duplication of Benefits – You
agree that you will not be entitled to duplication of benefits and that should you become entitled to any benefit under the laws of any
country that are already provided to you by the Home Company, you will not receive a duplication of the benefit.

 

Applicable Law – This Agreement is governed
and construed in accordance with the laws of the State of Ohio, U.S.A.

 

Repatriation – The Home Company retains
the right to terminate this agreement and repatriate you at any time.

 

Upon repatriation or termination for any reason,
other than for cause or voluntary resignation, the Company will pay for relocation back to the point of origin. Repatriation benefits
include a tax consultation in both home and host countries, departure from host country housing, miscellaneous expense allowance (see
Schedule 1), temporary living in home country, paid time off to relocate, return travel expenses and shipment of personal and household
goods.

 

SIGNATURES

 

To indicate your understanding and acceptance
of these terms and conditions, please sign below.

 

Best wishes for a successful and rewarding assignment:

 

	/s/
    Giancarlo Curriano	 	   June 9,
    2021
	Giancarlo
    Currarino 	 	Date
	 
	/s/
    Andres Lopez	 	   June 9,
    2021
	Andres
    Lopez 	 	Date
	Chief
    Executive Officer
	O-I
    Glass, Inc.
	 
	/s/
    Vitaliano Torno   	 	   June 10,
    2021
	Vitaliano
    Torno          	 	Date
	President,
    Business Operations and O-I Europe
	O-I Glass, Inc.

 

Distribution: Giancarlo Currarino / O-I United States
/ O-I Italy

 

    
	Giancarlo Currarino Global Strategic Assignment Letter – June 2021	Page 5 of 6

     

    

 

Schedule 1 – Assignment Details

 

	Assignee	Giancarlo Currarino
	Assignment Type	Global Strategic Expat Assignment
	Length of Assignment	3 years
	Job Title	Managing Director, South East Europe
	Family Size on Assignment	5
	Home Country	United States
	Host Country	Italy
	Proposed Assignment Start Date	1 September 2021   
	Relevant Policy	Tier 1 – Global Strategic Assignment Policy
	Home Gross Salary 	USD $ 520,000.00
	Short-Term Incentive – Target Eligibility 	65% of annual eligible earnings (Country Group Program)
	Long-Term Incentive – Target Eligibility	Per Annual Review
	Goods and Services Allowance	EUR 1,826 per month  - reviewed quarterly
	Housing Rental Limit	EUR 6,000 per month 
	Education for Children	As described above
	Annual Home Leave	As described above
	Language Lessons 	As described above
	Vacation Eligibility	23 days per year
	Return – Misc. Relocation Allowance	USD $16,667

 

    
	Giancarlo Currarino – Tier 1 – Global Strategic Assignment Letter – August 2021	Page 6 of 6

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