Document:

EX-10.11

 Exhibit 10.11 

AMBRX BIOPHARMA INC. 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (this “Agreement”) is made as of
                     , by and between Ambrx Biopharma Inc., an exempted company incorporated and existing under the laws of the Cayman Islands (the
“Company”), and [Name of Director/Officer] ([US passport/ID]:[*]) 
 WHEREAS, the
Indemnitee has agreed to serve as a director or officer of the Company and in such capacity will render valuable services to the Company; and 

WHEREAS, in order to induce and encourage highly experienced and capable persons such as the Indemnitee to render valuable services to the
Company, the board of directors of the Company (the “Board”) has determined that this Agreement is not only reasonable and prudent, but necessary to promote and ensure the best interests of the Company and its shareholders; 

NOW, THEREFORE, in consideration of the premises and mutual agreements hereinafter set forth, and other good and valuable consideration,
including, without limitation, the service of the Indemnitee, the receipt of which hereby is acknowledged, and in order to induce the Indemnitee to render valuable services the Company, the Company and the Indemnitee hereby agree as follows: 

 

	I.	 DEFINITIONS. 

As used in this Agreement: 

A. “Change in Control” shall mean a change in control of the Company of a nature that would be required to be reported
in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar or successor schedule or form) promulgated under the United States Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder (collectively, the “Act”), whether or not the Company is then subject to such reporting requirement; provided, however, that, without limitation, such a Change in Control shall be deemed to have
occurred (irrespective of the applicability of the initial clause of this definition) if (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Act, but excluding any trustee or other fiduciary holding securities
pursuant to an employee benefit or welfare plan or employee share plan of the Company or any subsidiary or affiliate of the Company, or any entity organized, appointed, established or holding securities of the Company with voting power for or
pursuant to the terms of any such plan) becomes the “beneficial owner” (as defined in Rule 13d-3 under the Act), directly or indirectly, of securities of the Company representing 30% or more of the
combined voting power of the Company’s then outstanding securities without the prior approval of at least two-thirds of the Continuing Directors (as defined below) in office immediately prior to such
person’s attaining such interest; (ii) the Company is a party to a merger, consolidation, scheme of arrangement, sale of assets or other reorganization, or a proxy contest, as a consequence of which Continuing Directors in office
immediately prior to such transaction or event constitute less than a majority of the Board of the Company (or any successor entity) thereafter; or (iii) during any period of two (2) consecutive years, individuals who at the beginning of
such period constituted the Board of the Company (including for this purpose any 

 
new director whose election or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds of the directors
then still in office who were directors at the beginning of such period) (such directors being referred to herein as “Continuing Directors”) cease for any reason to constitute at least a majority of the Board of the Company. 

B. “Disinterested Director” with respect to any request by the Indemnitee for indemnification or advancement of
expenses hereunder shall mean a director of the Company who neither is nor was a party to the Proceeding (as defined below) in respect of which indemnification or advancement is being sought by the Indemnitee. 

C. The term “Expenses” shall mean, without limitation, expenses of Proceedings, including attorneys’ fees,
disbursements and retainers, accounting and witness fees, expenses related to preparation for service as a witness and to service as a witness, travel and deposition costs, expenses of investigations, judicial or administrative proceedings and
appeals, amounts paid in settlement of a Proceeding by or on behalf of the Indemnitee, costs of attachment or similar bonds, any expenses of attempting to establish or establishing a right to indemnification or advancement of expenses, under this
Agreement, the Company’s Memorandum of Association and Articles of Association as currently in effect (the “Articles”), applicable law or otherwise, and reasonable compensation for time spent by the Indemnitee in connection
with the investigation, defense or appeal of a Proceeding or action for indemnification for which the Indemnitee is not otherwise compensated by the Company or any third party. The term “Expenses” shall not include the amount of judgments,
fines, interest or penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, which are actually levied against or sustained by the Indemnitee to the extent sustained after final adjudication. 

D. The term “Independent Legal Counsel” shall mean any firm of attorneys reasonably selected by the Board of the
Company, so long as such firm has not represented the Company, the Company’s subsidiaries or affiliates, the Indemnitee, any entity controlled by the Indemnitee, or any party adverse to the Company, within the preceding five (5) years.
Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company
or the Indemnitee in an action to determine the Indemnitee’s right to indemnification or advancement of expenses under this Agreement, the Company’s Articles, applicable law or otherwise. 

E. The term “Proceeding” shall mean any threatened, pending or completed action, suit, arbitration, alternate dispute
resolution mechanism, or other proceeding (including, without limitation, an appeal therefrom), formal or informal, whether brought in the name of the Company or otherwise, whether of a civil, criminal, administrative or investigative nature, and
whether by, in or involving a court or an administrative, other governmental or private entity or body (including, without limitation, an investigation by the Company or its Board), by reason of (i) the fact that the Indemnitee is or was a
director or officer of the Company, or is or was serving at the request of the Company as an agent of another enterprise, whether or not the Indemnitee is serving in such capacity at the time any liability or expense is incurred for which
indemnification or reimbursement is to be provided under this Agreement, (ii) any actual or alleged act or omission or neglect or breach of duty, including, without limitation, any actual or alleged error or misstatement or misleading
statement, which the Indemnitee commits or suffers while acting in any such capacity, or (iii) the Indemnitee attempting to establish or establishing a right to indemnification or advancement of expenses pursuant to this Agreement, the
Company’s Articles, applicable law or otherwise. 

  
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 F. The phrase “serving at the request of the Company as an agent of another
enterprise” or any similar terminology shall mean, unless the context otherwise requires, serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, limited liability
company, trust, employee benefit or welfare plan or other enterprise, foreign or domestic. The phrase “serving at the request of the Company” shall include, without limitation, any service as a director/an executive officer of the Company
which imposes duties on, or involves services by, such director/executive officer with respect to the Company or any of the Company’s subsidiaries, affiliates, employee benefit or welfare plans, such plan’s participants or beneficiaries or
any other enterprise, foreign or domestic. In the event that the Indemnitee shall be a director, officer, employee or agent of another corporation, partnership, joint venture, limited liability company, trust, employee benefit or welfare plan or
other enterprise, foreign or domestic, 50% or more of the ordinary shares, combined voting power or total equity interest of which is owned by the Company or any subsidiary or affiliate thereof, then it shall be presumed conclusively that the
Indemnitee is so acting at the request of the Company. 
 G. Services by the Indemnitee. The Indemnitee agrees to serve as a
director or officer of the Company under the terms of the Indemnitee’s agreement with the Company for so long as the Indemnitee is duly elected or appointed or until such time as the Indemnitee tenders a resignation in writing or is removed
from the Indemnitee’s position; provided, however, that the Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or other obligation imposed by operation of law). 

 

	II.	 PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY. 

The Company shall indemnify the Indemnitee if the Indemnitee is a party to or threatened to be made a party to or is otherwise involved in any
Proceeding by or in the right of the Company to procure a judgment in its favor by reason of the fact that the Indemnitee is or was a director or officer of the Company, or is or was serving at the request of the Company as an agent of another
enterprise, against all Expenses, judgments, fines, interest or penalties, and excise taxes assessed with respect to any employee benefit or welfare plan, which are actually and reasonably incurred by the Indemnitee in connection with the defense or
settlement of such a Proceeding, if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company; except that no indemnification under this section shall
be made in respect of any claim, issue or matter as to which such person shall have been adjudicated by final judgment by a court of competent jurisdiction to be liable to the Company for willful misconduct in the performance of his/her duty to the
Company, unless and only to the extent that the court in which such Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and
reasonably entitled to indemnity for such amounts which such other court shall deem proper. 
  

	III.	 PROCEEDING OTHER THAN A PROCEEDING BY OR IN THE RIGHT OF THE COMPANY 

The Company shall indemnify the Indemnitee if the Indemnitee is a party to or threatened to be made a party to or is otherwise involved in any
Proceeding (other than a Proceeding by or in the right of the Company), by reason of the fact that the Indemnitee is or was a director or officer of the Company, or is or was serving at the request of the Company as an agent of another enterprise,
against all Expenses, judgments, fines, interest or penalties, and 

  
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excise taxes assessed with respect to any employee benefit or welfare plan, which are actually and reasonably incurred by the Indemnitee in connection with such a Proceeding, to the fullest
extent permitted by applicable law; provided, however, that any settlement of a Proceeding must be approved in advance in writing by the Company (which approval shall not be unreasonably withheld). 

 

	IV.	 INDEMNIFICATION FOR COSTS, CHARGES AND EXPENSES OF WITNESS OR SUCCESSFUL PARTY 

Notwithstanding any other provision of this Agreement (except as set forth in subsection IV.C.6(a) hereof), and without a requirement for
determination as required by Section IV.C hereof, to the extent that the Indemnitee (a) has prepared to serve or has served as a witness in any Proceeding in any way relating to (i) the Company or any of the Company’s subsidiaries,
affiliates, employee benefit or welfare plans or such plan’s participants or beneficiaries or (ii) anything done or not done by the Indemnitee as a director or officer of the Company or in connection with serving at the request of the
Company as an agent of another enterprise, or (b) has been successful in defense of any Proceeding or in defense of any claim, issue or matter therein, on the merits or otherwise, including the dismissal of a Proceeding without prejudice or the
settlement of a Proceeding without an admission of liability, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection therewith to the fullest extent permitted by applicable law. 

A. Partial Indemnification. If the Indemnitee is entitled under any provision of this Agreement to indemnification by the
Company for a portion of the Expenses, judgments, fines, interest or penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, which are actually and reasonably incurred by the Indemnitee in the investigation,
defense, appeal or settlement of any Proceeding, but not, however, for the total amount of the Indemnitee’s Expenses, judgments, fines, interest or penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, then
the Company shall nevertheless indemnify the Indemnitee for the portion of such Expenses, judgments, fines, interest or penalties or excise taxes to which the Indemnitee is entitled. 

B. Advancement of Expenses. The Expenses incurred by the Indemnitee in any Proceeding shall be paid promptly by the Company in
advance of the final disposition of the Proceeding at the written request of the Indemnitee to the fullest extent permitted by applicable law; provided, however, that the Indemnitee shall set forth in such request reasonable evidence that such
Expenses have been incurred by the Indemnitee in connection with such Proceeding, a statement that such Expenses do not relate to any matter described in subsection IV.C.6(a) of this Agreement, and an undertaking in writing to repay any advances if
it is ultimately determined as provided in subsection IV.C.2 of this Agreement that the Indemnitee is not entitled to indemnification under this Agreement. 

C. Indemnification Procedure; Determination of Right to Indemnification. 

1. Promptly after receipt by the Indemnitee of notice of the commencement of any Proceeding, the Indemnitee shall, if a claim for
indemnification or advancement of Expenses in respect thereof is to be made against the Company under this Agreement, notify the Company of the commencement thereof in writing. The omission to so notify the Company will not relieve the Company from
any liability which the Company may have to the Indemnitee under this Agreement unless the Company shall have lost significant substantive 

  
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or procedural rights with respect to the defense of any Proceeding as a result of such omission to so notify. 

2. The Indemnitee shall be conclusively presumed to have met the relevant standards of conduct, if any, as defined by applicable law,
for indemnification pursuant to this Agreement and shall be absolutely entitled to such indemnification, unless a determination is made that the Indemnitee has not met such standards by a court of competent jurisdiction. 

3. If a claim for indemnification or advancement of Expenses under this Agreement is not paid by the Company within thirty
(30) days after receipt by the Company of written notice thereof, the rights provided by this Agreement shall be enforceable by the Indemnitee in any court of competent jurisdiction. Such judicial proceeding shall be made de novo. The burden of
proving that indemnification or advances are not appropriate shall be on the Company. Neither the failure of the directors or shareholders of the Company or Independent Legal Counsel to have made a determination prior to the commencement of such
action that indemnification or advancement of Expenses is proper in the circumstances because the Indemnitee has met the applicable standard of conduct, if any, nor an actual determination by the directors or shareholders of the Company or
Independent Legal Counsel that the Indemnitee has not met the applicable standard of conduct shall be a defense to an action by the Indemnitee or create a presumption for the purpose of such an action that the Indemnitee has not met the applicable
standard of conduct. The termination of any Proceeding by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself (i) create a presumption that the Indemnitee did not act in
good faith and in a manner which he reasonably believed to be in the best interests of the Company and/or its shareholders, and, with respect to any criminal Proceeding, that the Indemnitee had reasonable cause to believe that his conduct was
unlawful or (ii) otherwise adversely affect the rights of the Indemnitee to indemnification or advancement of Expenses under this Agreement, except as may be provided herein. 

4. If a court of competent jurisdiction shall determine that the Indemnitee is entitled to any indemnification or advancement of
Expenses hereunder, the Company shall pay all Expenses actually and reasonably incurred by the Indemnitee in connection with such adjudication (including, but not limited to, any appellate proceedings). 

5. With respect to any Proceeding for which indemnification or advancement of Expenses is requested, the Company will be entitled to
participate therein at its own expense and, except as otherwise provided below, to the extent that it may wish, the Company may assume the defense thereof, with counsel reasonably satisfactory to the Indemnitee. After notice from the Company to the
Indemnitee of its election to assume the defense of a Proceeding, the Company will not be liable to the Indemnitee under this Agreement for any Expenses subsequently incurred by the Indemnitee in connection with the defense thereof, other than as
provided below. The Company shall not settle any Proceeding in any manner which would impose any penalty or limitation on the Indemnitee without the Indemnitee’s written consent. The Indemnitee shall have the right to employ his/her own counsel
in any Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense of the Proceeding shall be at the expense of the Indemnitee, unless (i) the employment of counsel by the
Indemnitee has been authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of the defense of a Proceeding, or (iii) the
Company shall not in fact have employed counsel to assume the defense 

  
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of a proceeding, in each of which cases the fees and expenses of the Indemnitee’s counsel shall be advanced by the Company. The Company shall not be entitled to assume the defense of any
Proceeding brought by or on behalf of the Company or as to which the Indemnitee has reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee. 

6. Limitations on Indemnification. No payments pursuant to this Agreement shall be made by the Company: 

a. To indemnify or advance funds to the Indemnitee for Expenses with respect to (i) Proceedings initiated or brought voluntarily
by the Indemnitee and not by way of defense, except with respect to Proceedings brought to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under applicable law or
(ii) Expenses incurred by the Indemnitee in connection with preparing to serve or serving, prior to a Change in Control, as a witness in cooperation with any party or entity who or which has threatened or commenced any action or proceeding
against the Company, or any director, officer, employee, trustee, agent, representative, subsidiary, parent corporation or affiliate of the Company, but such indemnification or advancement of Expenses in each such case may be provided by the Company
if the Board finds it to be appropriate; 
 b. To indemnify the Indemnitee for any Expenses, judgments, fines, interest or
penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, sustained in any Proceeding for which payment is actually made to the Indemnitee under a valid and collectible insurance policy, except in respect of any
excess beyond the amount of payment under such insurance; 
 c. To indemnify the Indemnitee for any Expenses, judgments, fines,
interest or penalties sustained in any Proceeding for an accounting of profits made from the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Act or similar provisions of any
foreign or United States federal, state or local statute or regulation; 
 d. To indemnify the Indemnitee for any Expenses,
judgments, fines, interest or penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, for which the Indemnitee is indemnified by the Company otherwise than pursuant to this Agreement; 

e. To indemnify the Indemnitee for any Expenses (including without limitation any Expenses relating to a Proceeding attempting to
enforce this Agreement), judgments, fines, interest or penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, on account of the Indemnitee’s conduct if such conduct shall be finally adjudged to have been
knowingly fraudulent, deliberately dishonest or willful misconduct, including, without limitation, breach of the duty of loyalty; or 

f. If a court of competent jurisdiction finally determines that any indemnification hereunder is unlawful. In this respect, the
Company and the Indemnitee have been advised that the Securities and Exchange Commission takes the position that indemnification for liabilities arising under securities laws is against public policy and is, therefore, unenforceable and that claims
for indemnification should be submitted to appropriate courts for adjudication; 

  
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 g. To indemnify the Indemnitee in connection with Indemnitee’s personal tax
matter; or 
 h. To indemnify the Indemnitee with respect to any claim related to any dispute or breach arising under any contract
or similar obligation between the Company or any of its subsidiaries or affiliates and such Indemnitee. 
 D. Continuation of
Indemnification. All agreements and obligations of the Company contained herein shall continue during the period that the Indemnitee is a director or officer of the Company (or is or was serving at the request of the Company as an agent of
another enterprise, foreign or domestic) and shall continue thereafter so long as the Indemnitee shall be subject to any possible Proceeding by reason of the fact that the Indemnitee was a director or officer of the Company or serving in any other
capacity referred to in this Section IV.D. 
 E. Indemnification Hereunder Not Exclusive. The indemnification provided by this
Agreement shall not be deemed to be exclusive of any other rights to which the Indemnitee may be entitled under the Company’s Articles, any agreement, vote of shareholders or vote of Disinterested Directors, provisions of applicable law, or
otherwise, both as to action or omission in the Indemnitee’s official capacity and as to action or omission in another capacity on behalf of the Company while holding such office. 

F. Successors and Assigns. 

1. This Agreement shall be binding upon the Indemnitee, and shall inure to the benefit of, the Indemnitee and the Indemnitee’s
heirs, executors, administrators and assigns, whether or not the Indemnitee has ceased to be a director or officer, and the Company and its successors and assigns. Upon the sale of all or substantially all of the business, assets or share capital of
the Company to, or upon the merger of the Company into or with, any corporation, partnership, joint venture, trust or other person, this Agreement shall inure to the benefit of and be binding upon both the Indemnitee and such purchaser or successor
person. Subject to the foregoing, this Agreement may not be assigned by either party without the prior written consent of the other party hereto. 

2. If the Indemnitee is deceased and is entitled to indemnification under any provision of this Agreement, the Company shall indemnify
the Indemnitee’s estate and the Indemnitee’s spouse, heirs, executors, administrators and assigns against, and the Company shall, and does hereby agree to assume, any and all Expenses actually and reasonably incurred by or for the
Indemnitee or the Indemnitee’s estate, in connection with the investigation, defense, appeal or settlement of any Proceeding. Further, when requested in writing by the spouse of the Indemnitee, and/or the Indemnitee’s heirs, executors,
administrators and assigns, the Company shall provide appropriate evidence of the Company’s agreement set out herein to indemnify the Indemnitee against and to itself assume such Expenses. 

 

	V.	 SUBROGATION 

In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of
the Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. 

  
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	VI.	 SEVERABILITY 

Each and every section, paragraph, sentence, term and provision of this Agreement is separate and distinct so that if any section, paragraph,
sentence, term or provision thereof shall be held to be invalid, unlawful or unenforceable for any reason, such invalidity, unlawfulness or unenforceability shall not affect the validity, unlawfulness or enforceability of any other section,
paragraph, sentence, term or provision hereof. To the extent required, any section, paragraph, sentence, term or provision of this Agreement may be modified by a court of competent jurisdiction to preserve its validity and to provide the Indemnitee
with the broadest possible indemnification permitted under applicable law. The Company’s inability, pursuant to a court order or decision, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. 

 

	VII.	 SAVINGS CLAUSE 

If this Agreement or any section, paragraph, sentence, term or provision hereof is invalidated on any ground by any court of competent
jurisdiction, the Company shall nevertheless indemnify the Indemnitee as to any Expenses, judgments, fines, interest or penalties, or excise taxes assessed with respect to any employee benefit or welfare plan, which are incurred with respect to any
Proceeding to the fullest extent permitted by any (a) applicable section, paragraph, sentence, term or provision of this Agreement that has not been invalidated or (b) applicable law. 

 

	VIII.	 INTERPRETATION; GOVERNING LAW 

This Agreement shall be construed as a whole and in accordance with its fair meaning and any ambiguities shall not be construed for or against
either party. Headings are for convenience only and shall not be used in construing meaning. This Agreement shall be governed and interpreted in accordance with the laws of the Cayman Islands without regard to the conflict of laws principles
thereof. 
  

	IX.	 AMENDMENTS 

No amendment, waiver, modification, termination or cancellation of this Agreement shall be effective unless in writing signed by the party
against whom enforcement is sought. The indemnification rights afforded to the Indemnitee hereby are contract rights and may not be diminished, eliminated or otherwise affected by amendments to the Company’s Articles, or by other agreements,
including directors’ and officers’ liability insurance policies, of the Company. 
  

	X.	 COUNTERPARTS 

This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each party and delivered to the other. 
  

	XI.	 NOTICES. 

Any notice required to be given under this Agreement shall be directed to the Chief Financial Officer of the Company, at 10975 North Torrey
Pines Road, La Jolla, California 

  
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92037 and to the Indemnitee at [Note: to fill in address of the Indemnitee] or to such other address as either shall designate to the other in writing. 

[The remainder of this page is intentionally left blank.] 

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

			
	AMBRX BIOPHARMA INC.

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	
	INDEMNITEE

 
			
		
	By:	 	  

 
			
	Name:	 	

  
 [Signature Page to
Indemnification Agreement]EX-10.14

 Exhibit 10.14 

EXECUTIVE EMPLOYMENT AGREEMENT 

This Executive Employment Agreement (“Agreement”) is made effective as of September 25, 2020, (“Effective
Date”), by and between Ambrx, Inc., a Delaware corporation (the “Company”), and Jinchun (AKA “Joy”) Yan, MD, PhD (“Executive”). 

The parties agree as follows: 

1. Employment. The Company hereby employs Executive commencing effective as of Octoberl9 _, 2020 (the “Employment
Commencement Date”), and Executive hereby accepts such employment, upon the terms and conditions set forth herein. 
 2. Duties
and Position. Executive shall be employed as the Company’s Chief Medical Officer. Executive shall report to the Company’s Chief Executive Officer (“CEO”) and shall have the duties and responsibilities customarily associated
with this position and may be reasonably assigned from time to time by the CEO. Initially, Executive will be responsible for providing clinical insight and medical direction to the Company and will help shape product development and
commercialization strategies. This position will develop, implement and manage all clinical activities involving the Company’s investigative products. Includes development of clinical strategies, medical affairs oversight, development plans,
protocol design, assessment of study results and management of regulatory processes. 
 2.1 Best Efforts/Full-Time. Executive shall
perform the duties and responsibilities assigned to her to the best of her abilities and with reasonable diligence, and shall abide by all policies and decisions made by the Company, as well as all applicable federal, state and local laws,
regulations or ordinances. Executive shall act in the best interest of the Company at all times. Executive shall devote Executive’s full business time and efforts to the performance of Executive’s assigned duties for the Company, unless
Executive notifies the CEO in advance of Executive’s intent to engage in other paid activities and receives the CEO’s express written consent to do so; provided, however, that any such activities must not materially interfere
with Executive’s performance of her full-time duties and responsibilities under this Agreement. An essential function of Executive’s position is working a regular, full time schedule. 

2.2 Policies and Procedures. Executive agrees to comply with the Company’s regular policies and procedures as such policies and
procedures may be modified from time to time, including, but not limited to, maintaining the confidentiality of the Company’s confidential information, assigning to the Company inventions made by Executive during the term of her employment and
not pursuing competitive activities during the term of employment. 
 3. At-Will Employment
Relationship. Executive’s employment with the Company is at-will and not for any specified period and may be terminated at any time, with or without Cause or advance notice, by either Executive or the
Company. In addition, the Company reserves the right to modify Executive’s position or duties to meet business needs and to use discretion in deciding on appropriate discipline. Any change to the at-will
employment relationship must be by specific, written agreement signed by Executive and CEO or an authorized representative. Nothing in this Agreement is intended to or should be construed to contradict, modify or alter this at-will relationship. If Executive’s employment with the Company terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in
this Agreement. 

  
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 4. Compensation. 

4.1 Base Salary. As compensation for Executive’s performance of her duties hereunder, the Company shall pay to Executive an initial
base salary in the gross amount of $15,384.62 per bi-weekly pay period (annualizing to $400,000). The Base Salary may be increased or decreased at the sole discretion of the Company without written
modification to this Agreement. The Base Salary is payable in accordance with the normal payroll practices of the Company, less required deductions for state and federal withholding tax, social security and all other employment taxes and payroll
deductions. In the event Executive’s employment under this Agreement is terminated by either party, for any reason, Executive shall earn the Base Salary prorated to the date of termination of employment. 

4.2 Discretionary Bonus. Executive shall participate in such bonus plan or plans as in effect from time-to-time and applicable to the senior management of the Company. Executive’s target bonus award under such bonus plan, if provided, shall be thirty five percent (35%) of Executive’s Base Salary
(the “Target Bonus”). Executive’s bonus (if any) shall be determined by the CEO, in his/her sole and absolute discretion, in accordance with the terms and conditions of such bonus plan, as in effect from time to time. 

4.3 Stock Awards. The Executive will also be eligible to participate in designated incentive employee stock option plans in accordance
with guidelines established from time to time (the “Stock Option Plan”). As part of Executive’s employment with the Company, the Board of Directors (“Ambrx Biopharma Board”) has approved that Executive shall be granted an
option to acquire 1,855,958 ordinary shares of Ambrx Biopharma, Inc. common stock with standard four-year vesting provisions, with such vesting commencing on the Employment Commencement Date, as defined by the Ambrx Biopharma Share Incentive Plan
(the “Time-Based Options”). The Time-Based Options will be granted on the date on which the Ambrx Biopharma Board accepts and approves an updated third-party valuation of the ordinary shares of Ambrx Biopharma, Inc., and will have an
exercise price per share equal to the fair market value per ordinary share as set forth in such valuation. The 1,855,958 options will be governed by terms of a Notice of Grant of Share Option and Share Option Agreement, which Executive shall be
required to sign as a condition of receiving the award. Additionally, the Ambrx Biopharma Board approved that Executive shall be granted stock options to purchase additional ordinary shares of Ambrx Biopharma, Inc. based on the four milestones
listed on Exhibit C to this Agreement (the “Milestone Options”). Each of the Milestone Options will be granted on the date the Ambrx Biopharma Board determines that the applicable performance-based milestone has been achieved and
will be fully vested on the grant date, as further described in Exhibit C to this Agreement. Whether Executive has met the performance-based milestones will be determined in the sole discretion of the Ambrx Biopharma Board. 

4.4 Performance and Salary Review. The CEO shall review Executive’s performance on an annual basis. Adjustments to Base Salary,
Target Bonus, or other compensation, if any, and any grants of Stock Awards under any applicable Stock Option Plan shall be made by the CEO in his/her sole and absolute discretion. 

4.5 Conditional Relocation and Retention Payment. A material condition of this Agreement is Executive’s agreement to relocate to
San Diego and to work full-time in the San Diego business location by no later than one year after Executive’s Employment Commencement Date. The only exception to this one-year relocation requirement is
the Company’s determination, in its sole discretion, that the COVID-19 pandemic makes it materially unsafe for Executive’s relocation during this one-year
period. If the Company makes this determination, it will notify Executive of the expected new relocation date. For the avoidance of doubt, Executive’s refusal to relocate to San Diego at any time shall not be considered “Good Reason”
under Paragraph 14. The parties agree that San Diego is the geographic location at which Executive is expected to regularly perform her job duties. As part of our offer of 

  
 2 

 
employment, the Company will pay to Executive, as an advance subject to the earning provision of this paragraph, the gross amount of $50,000 within 10 days of Executive’s initiation of a
complete household relocation to San Diego within the required one-year relocation period. The amounts paid to Executive in connection with relocation and as a retention payment shall be paid and treated as
taxable compensation and shall be subject to any withholding tax and payroll deductions as required by law. Should Executive’s employment with the Company end for any or no reason during the one-year
period immediately following payment of the relocation expense, Executive agrees that Executive has not earned the Relocation and Retention Payment and agrees to repay to the Company all relocation amounts paid to Executive. 

5. Customary Fringe Benefits. Executive shall be eligible for all customary and usual fringe benefits generally available to senior
executives at a same or similar level of responsibility at the Company, including but not limited to group health insurance, subject to the terms and conditions of the Company’s benefit plan documents. Executive shall be entitled to paid time-off in accordance with the Company policies, but Executive shall be entitled to accrue a minimum of twenty (20) days of paid time-off per year. Executive’s paid
time off benefits shall be subject to an accrual cap of no more than 150% of the annual accrual rate. This means that Executive will not continue to accrue paid time off benefits after reaching the accrual cap until paid time off is used and the
accrue paid time off bank falls below the accrual cap. The Company reserves the right to change or eliminate the fringe benefits on a prospective basis, at any time, effective upon notice to Executive. 

6. Business Expenses. Executive shall be reimbursed for all reasonable,
out-of-pocket business expenses reasonably incurred in the performance of Executive’s duties or professional activities on behalf of the Company, including but not
limited to travel expenses (coach airfare or the equivalent, lodging and other incidental expenses, business airfare for international trips over 6 hours). To obtain reimbursement, expenses must be submitted promptly with appropriate supporting
documentation in accordance with the Company’s policies. 
 7. No Conflict of Interest. During Executive’s employment with
the Company, Executive shall not engage in any activity that creates an actual or potential conflict of interest with the Company without the prior written consent of CEO or an authorized representative. Such work shall include, but is not limited
to, directly competing with the Company in any way, or acting as an officer, director, employee, consultant, stockholder, volunteer, lender, or agent of any business enterprise of the same nature as, or which is in direct competition with, the
business in which the Company is now engaged or in which the Company becomes engaged during Executive’s employment with the Company, as may be determined by the CEO in its sole discretion. If the Company believes such a conflict exists during
Executive’s employment with the Company, the Company may end Employee’s employment or may ask Executive to choose to modify the scope of the other activity, discontinue the other activity, or resign employment with the Company. Moreover,
during Executive’s employment with the Company, it shall not be a violation of this Agreement for Executive to (a) serve on any civic or charitable boards or committees; (b) deliver lectures, fulfill teaching or speaking engagements;
(c) manage personal investments; or (d) serve as a member of the board of directors of one corporation (in addition to the Company) with the CEO’s written approval, which shall not be unreasonably withheld provided,
further, that any such activities must not occur during the Company’s regular business hours or materially interfere with Executive’s performance of her duties and responsibilities under this Agreement. 

8. Confidentiality and Proprietary Rights. Executive and the Company have executed the Company’s Confidentiality and Proprietary
Rights Agreement, a copy of which is attached to this Agreement as Exhibit A and incorporated herein by reference. 

  
 3 

 9. Non-Interference and Non-solicitation. Executive understands and agrees that the Company’s employees, customers and partners and any information regarding the Company’s employees, customers and/or partners is confidential
and constitutes trade secrets of the Company (“Confidential Information and Trade Secrets”). Executive agrees that during her employment and for an indefinite period thereafter, Executive will hold in strictest confidence, and will not
directly or indirectly use, disclose or allow to be disclosed to any person, firm, or corporation, the Company’s Confidential Information and Trade Secrets, unless previously authorized by the Company for use in the pursuit of Company business,
and for the benefit of the Company. Additionally, notwithstanding any other provision of this Agreement, including the Company Confidentiality and Proprietary Rights Agreement incorporated herein by reference, Executive agrees that, to the fullest
extent permitted by applicable law, during her employment and for a period of one (1) year after the conclusion of her employment, Executive will not, either directly or indirectly, separately or in association with others interfere with,
impair, disrupt or damage the Company’s business by soliciting, encouraging or recruiting any of the Company’s employees or causing others to solicit or encourage any of the Company’s employees to discontinue their employment with the
Company. 
 10. Remedies; Injunctive Relief. The parties acknowledge that a breach of the covenants contained in Sections 8, 9 and 10
would cause irreparable injury and agree that in the event of any such breach, the non-breaching party shall be entitled to seek temporary, preliminary and permanent injunctive relief, as specified under
Section 1281.8 of the California Code of Civil Procedure, without the necessity of proving actual damages or posting any bond or other security. In addition, the Company shall be entitled to cease all severance payments to Executive in the
event of Executive’s breach of Section 8, 9 or 10. 
 11. Indemnification. If Executive is considered an officer of the
Company under the Company’s Bylaws, Executive shall be entitled to indemnification as provided in Article VIII of the Bylaws of the Company, without regard to any future changes in Executive’s assignment or position. In addition, to the
extent the Company obtains insurance providing coverage or indemnification for other officers, or employees, or enters into any agreements with any other officers or employees which provide such officer or employee with rights to indemnification,
Executive shall be included as a named insured in such policy and/or granted the same rights to indemnification as are provided in such other agreements. 

12. Voluntary Agreement to Arbitrate. Any dispute, claim or controversy based on, arising out of or relating to Executive’s
employment or this Agreement shall be settled by final and binding arbitration in San Diego, California, before a single neutral arbitrator in accordance with the National Rules for the Resolution of Employment Disputes (the
“Rules”) of the American Arbitration Association, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction. Arbitration may be compelled by either party pursuant to the California
Arbitration Act (Code of Civil Procedure §§ 1280 et seq.) and/or the Federal Arbitration Act. If the parties are unable to agree upon an arbitrator, one shall be appointed by the AAA in accordance with its Rules, which can be
viewed at http://www.adr.org/employment. Each party shall pay the fees of its own attorneys, the expenses of its witnesses and all other expenses connected with presenting its case; however, Executive and the Company agree that, to the extent
provided by law, the arbitrator may, in his or her discretion, award reasonable attorneys’ fees to the prevailing party. Other costs of the arbitration, including the cost of any record or transcripts of the arbitration, AAA’s
administrative fees, the fee of the arbitrator, and all other fees and costs, shall be borne by the Company. This Section 12 is intended to be the exclusive method for resolving any and all claims by the parties against each other for payment
of damages under this Agreement or relating to Executive’s employment; provided, however, that neither this Agreement nor the submission to arbitration shall limit the parties’ right to seek provisional relief, including
without limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction. Seeking any such relief shall not

  
 4 

 
be deemed to be a waiver of such party’s right to compel arbitration. Both Executive and the Company expressly waive their right to a jury trial as to any matter subject to arbitration. The
parties further agree that they may not bring any claim in arbitration as a class, collective or representative action, but only in their individual capacities. 

13. General Provisions. 

13.1 Successors and Assigns. The rights of the Company under this Agreement may, without the consent of Executive, be assigned by the
Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or
business of the Company. The Company will require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations
hereunder. As used in this Agreement, the 3Company ́ shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law or
otherwise. Executive shall not be entitled to assign any of Executive’s rights or obligations under this Agreement. This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive should die while any amount is at such time payable to him hereunder, all such amounts, unless otherwise provided herein, shall be paid in accordance
with the terms of this Agreement to Executive’s devisee, legatee, or other designee or, if there be no such designee, to his estate. 

13.2 Waiver. Either party’s failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any
such provision, or prevent that party thereafter from enforcing each and every other provision of this Agreement. 
 13.3 Attorneys’
Fees. Each side will bear its own attorneys’ fees in any dispute unless a statutory section at issue, if any, authorizes the award of attorneys’ fees to the prevailing party. 

13.4 Severability. In the event any provision of this Agreement is found to be unenforceable by an arbitrator or court of competent
jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by
law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 

13.5 Interpretation; Construction. The headings set forth in this Agreement are for convenience only and shall not be used in
interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms. Furthermore, Executive acknowledges that Executive has had an opportunity to
review and revise the Agreement and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of this Agreement. 
 13.6 Tax Withholding. The payments made pursuant to this Agreement shall be subject to tax
withholding and payroll deductions required by applicable law. 

  
 5 

 13.7 Governing Law. This Agreement will be governed by and construed in accordance
with the laws of the United States and the State of California. Each party consents to the jurisdiction and venue of the state or federal courts in San Diego, California, if applicable, in any action, suit, or proceeding arising out of or relating
to this Agreement. 
 13.8 Notices. Any notice required or permitted by this Agreement shall be in writing and shall be delivered as
follows with notice deemed given as indicated: (a) by personal delivery when delivered personally; (b) by overnight courier upon written verification of receipt; (c ) by telecopy, email or facsimile transmission upon acknowledgment of
receipt of electronic transmission; or (d) by certified or registered mail, return receipt requested, upon verification of receipt. Notice shall be sent to Executive at the address set forth below and to the Company at its principal place of
business, or such other address as either party may specify in writing. 
 13.9 Survival. Sections 8 (“Confidentiality and
Proprietary Rights”), 9 (“Non-Interference and Non-solicitation”), 10 (“Remedies; Injunctive Relief”), 11
(“Indemnification”), 12 (“Agreement to Arbitrate”) and 13 (“General Provisions”) of this Agreement shall survive termination of Executive’s employment by the Company. 

13.10 Entire Agreement. This Agreement, the Company Confidentiality and Proprietary Rights Agreement incorporated herein by reference
and the Stock Option Plan referenced in Section 4.3 of this Agreement, together constitute the entire agreement between the parties relating to this subject matter and supersedes all prior or simultaneous representations, discussions,
negotiations, and agreements, whether written or oral. This Agreement may be amended or modified only with the written consent of Executive and an authorized representative of the Company. No oral waiver, amendment or modification will be effective
under any circumstances whatsoever. 
 13.11 Compliance with Section 409A of the Internal Revenue Code. The parties
acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with, and the parties agree to use their best efforts to achieve timely compliance with, Section 409A, and the Department of Treasury
Regulations and other interpretive guidance issued thereunder, including, without limitation, any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of this Agreement to the contrary, in the
event that the Company determines that any amounts payable hereunder would otherwise be taxable to Executive under Section 409A, the Company may adopt such limited amendments to this Agreement and appropriate policies and procedures, including
amendments and policies with retroactive effect, that the Company reasonably determines are necessary or appropriate to comply with the requirements of Section 409A and thereby avoid the application of taxes under Section 409A. 

13.12 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument. 
 14. Severance. Executive shall be entitled to receive benefits upon
Executive’s Separation from Service by reason of termination of Executive’s employment with the Company only as set forth in this Section 14. For the avoidance of doubt, Executive shall not be eligible for severance benefits under
this Section 14 unless, in the sole discretion of the Company, Executive has completed six full months of employment without the Company having concerns regarding Executive’s performance or conduct even if such Company concerns do not rise
to the level of “Cause ́ under this Agreement. The six-month period shall be measured from the Employment Commencement Date. If, prior to Executive’s completing six full months of employment,
Executive’s Separation from Service occurs by reason of termination of Executive’s employment due to any performance or conduct concern of any nature by the Company, even if such concern does not rise to the level of “Cause ́
under this Agreement and even if Executive is not 

  
 6 

 
given the opportunity to cure the Company’s concern(s) prior to termination, the Company shall not have any other or further obligations to Executive under this Agreement (including any
financial obligations) except that Executive shall be entitled to receive (i) Executive’s fully earned but unpaid Base Salary, through the date of termination at the rate then in effect, and (ii) all other amounts or benefits to which
Executive is entitled under any compensation, retirement or benefit plan or practice of the Company at the time of termination in accordance with the terms of such plans or practices, including, without limitation, any continuation of benefits
required by COBRA or applicable law provided Executive timely elects and fully pays for any such continuation of benefits required by COBRA or applicable law. 

(a) Termination Without Cause or By Executive For Good Reason After Completion of Six Full Months of Employment. Provided Executive has
completed six full months of employment, measured from the Employment Commencement Date, if Executive’s Separation from Service occurs by reason of the termination of Executive’s employment by the Company without Cause, or by Executive for
Good Reason, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance plan or program of Company, the benefits provided below: 

(i) The Company shall pay to Executive her fully earned but unpaid Base Salary, when due, through the date of Separation from
Service at the rate then in effect, plus all other amounts to which Executive has earned under any compensation plan or practice of the Company at the time of Separation from Service; 

(ii) Subject to Executive’s continued compliance with Sections 7, 8, and 9, Executive shall be entitled to receive a
total severance benefit in cash in an amount equal to: (A) Six (6), multiplied by (B) Executive’s monthly Base Salary as in effect immediately prior to the date of Separation from Service. Such severance benefit shall be payable in a
lump sum installment on the first day of the calendar month on or next following the sixtieth (60th) day after the date of Executive’s Separation from Service; and 

(iii) Subject to Executive’s continued compliance with Sections 7, 8 and 9, for the period beginning on the date of
Executive’s Separation from Service and ending on the date which is six (6) full months following the date of Executive’s Separation from Service (or, if earlier, the date on which the applicable continuation period expires), the
Company shall provide Executive and her eligible dependents who were covered under the Company’s health plans as of the date of Executive’s Separation from Service with continuation coverage under COBRA for a monthly premium equal to the
monthly premium Executive would have been required to pay for health coverage for Executive and her eligible dependents who were covered by the Company’s health plans if Executive were an active employee (provided that Executive shall be solely
responsible for all matters relating to his continuation of coverage pursuant to COBRA, including, without limitation, her election of such coverage and her timely payment of premiums). Such continuation coverage shall be provided through insurance
in accordance with the exemption under Treasury Regulation Section 1.409A-1(a)(5). 

(iv) In the event Executive accepts employment with an employer other than the Company prior to or during the severance
payment period described in Section 14(a)(ii) (which acceptance may be evidenced upon the earlier of executing a written employment agreement or commencing such employment), the Company’s obligation to provide severance benefits under
Section 14(a)(iii) shall immediately cease upon such acceptance of other employment, and Executive shall be obligated to inform the Company of any such acceptance within five (5) business days of such acceptance. 

  
 7 

 (b) Other Terminations. If Executive’s employment is terminated at any time by
the Company for Cause, by Executive without Good Reason, or as a result of Executive’s death or Disability, the Company shall not have any other or further obligations to Executive under this Agreement (including any financial obligations)
except that Executive shall be entitled to receive (i) Executive’s fully earned but unpaid Base Salary, through the date of termination at the rate then in effect, and (ii) all other amounts or benefits to which Executive is entitled
under any compensation, retirement or benefit plan or practice of the Company at the time of termination in accordance with the terms of such plans or practices, including, without limitation, any continuation of benefits required by COBRA or
applicable law provided Executive timely elects and fully pays for any such continuation of benefits required by COBRA or applicable law. The foregoing shall be in addition to, and not in lieu of, any and all other rights and remedies which may be
available to the Company under the circumstances, whether at law or in equity. 
 (c) Delay of Payments. If at the time of
Executive’s Separation from Service, Executive is a “specified employee” as defined in Section 409A of the Code, as determined by the Company in accordance with Section 409A of the Code, and the deferral of the commencement
of any payments or benefits otherwise payable hereunder as a result of such Separation from Service is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company shall defer the commencement
of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) until the date that is at least six (6) months following Executive’s Separation from
Service (or the earliest date as is permitted under Section 409A of the Code). 
 (d) Release. As a condition to
Executive’s receipt of any benefits pursuant to Section 14(a)(ii) and (iii), Executive shall execute and deliver to the Company within fifty (50) days following Executive’s Separation from Service, and not revoke, a general
release of all claims in favor of the Company (the “Release”) in a form substantially similar to the form attached hereto as Exhibit B. Such Release shall specifically relate to all of Executive’s rights and
claims in existence at the time of such execution, including any claims related to Executive’s employment by the Company and her termination of employment, and shall exclude any continuing obligations the Company may have to Executive following
the date of termination under this Agreement or any other agreement providing for obligations to survive Executive’s termination of employment. In the event Executive does not execute and deliver the Release to the Company within fifty
(50) day period following the date of Executive’s Separation from Service, or Executive revokes the Release, Executive shall not be entitled to the aforesaid payments and benefits. 

(e) Exclusive Remedy. Except as otherwise expressly required by law (e.g., COBRA) or as specifically provided herein, all of
Executive’s rights to salary, severance, benefits, bonuses and other amounts hereunder (if any) accruing after the termination of Executive’s employment shall cease upon such termination. In the event of a termination of Executive’s
employment with the Company, Executive’s sole remedy shall be to receive the payments and benefits described in this Section 14. In addition, Executive acknowledges and agrees that she is not entitled to any reimbursement by the Company
for any taxes payable by Executive as a result of the payments and benefits received by Executive pursuant to this Section 14, including, without limitation, any excise tax imposed by Section 4999 of the Code. 

(f) No Mitigation. Executive shall not be required to mitigate the amount of any payment provided for in this Section 14 by
seeking other employment or otherwise; however, if Executive accepts employment, Executive’s rights to severance benefits under Section 14(a)(ii) and (iii) shall be limited in accordance with Section 14(a)(iv). In addition, any
loans, advances or other amounts owed by Executive to the Company may be offset by the Company against amounts payable to Executive 

  
 8 

 
under this Section14, and, as provided in Section 14(a), Executive’s right to continued health care benefits following his termination of employment will terminate on the date on which
the applicable continuation period under COBRA expires. 
 (g) Return of the Company’s Property. If Executive’s employment
is terminated for any reason, the Company shall have the right, at its option, to require Executive to vacate her office prior to or on the effective date of termination and to cease all activities on the Company’s behalf. Upon the termination
of her employment in any manner, as a condition to Executive’s receipt of any post-termination benefits described in this Agreement, Executive shall immediately surrender to the Company all lists, books and records of, or in connection with,
the Company’s business, and all other property belonging to the Company, it being distinctly understood that all such lists, books and records, and other documents, are the property of the Company. Executive shall deliver to the Company a
signed statement certifying compliance with this Section 14(g) prior to the receipt of any post-termination benefits described in this Agreement. 

(h) Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 

(i) “Cause” shall mean any of the following: (i) any act of personal dishonesty taken by Executive in
connection with Executive’s responsibilities to the Company or any successor or parent or subsidiary thereof which is materially injurious to the Company or any successor or parent or subsidiary thereof; (ii) Executive’s conviction of
a felony; (iii) a willful act by Executive which constitutes gross misconduct and is materially injurious to the Company or any successor or parent or subsidiary thereof; (iv) Executive’s willful and material breach of a material
obligation or material duty under this Agreement, the Company’s Confidentiality and Proprietary Rights Agreement or the Company’s written employment or other written policies that have previously been furnished to Executive, which breach,
if curable, is not cured within thirty (30) days after written notice thereof is received by Executive; (v) Executive’s failure to comply with reasonable directives of the CEO that are consistent with Executive’s job duties
(which directives are not in conflict with applicable law), which failure, if curable, is not cured within thirty (30) days after written notice thereof is received by Executive; or (vi) Executive’s misappropriation of any material
property, including but not limited to intellectual property, of the Company or any successor or parent or subsidiary thereof. 

(ii) “Disability” means the inability of Executive, in the opinion of a qualified physician acceptable to the
Company, to perform, with reasonable or without accommodation, the major duties of Executive’s position with the Company, or any parent, or subsidiary, or successor because of the sickness or injury of Executive for more than 90 consecutive
days or more than 120 days in a 12 month period. 
 (iii) “Good Reason” shall mean the occurrence of any of
the following events or conditions without Executive’s written consent: 
 (A) a material diminution in
Executive’s authority, duties or responsibilities; 
 (B) a material diminution in Executive’s base compensation,
unless such a salary reduction is imposed across-the-board to senior management of the Company; 

  
 9 

 (C) a material change in the San Diego geographic location at which
Executive must regularly perform her duties, except for reasonably required travel on the Company’s or any successor’s or affiliate’s business; or 

(D) any other action or inaction that constitutes a material breach by the Company or any successor or affiliate of its
obligations to Executive under this Agreement. 
 Executive must provide written notice to the Company of the occurrence of
any of the foregoing events or conditions within ninety (90) days of the initial occurrence of such event. The Company or any successor or affiliate shall have a period of thirty (30) days to cure such event or condition after receipt of
written notice of such event from Executive. Any voluntary termination of Executive’s employment for “Good Reason” following such thirty (30) day cure period must occur no later than the date that is six (6) months following
the initial occurrence of one of the foregoing events or conditions. 
 (iv) “Separation from Service”
shall mean Executive’s separation from service, as defined in Treasury Regulation Section 1.409A-1(h), with respect to the Company (and the service recipient, as defined in Treasury Regulation Section 1.409A-1(g), that includes the Company). 
 THE PARTIES TO THIS AGREEMENT HAVE READ THE
FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW. 
  

									
		 		  		  	Jinchun (AKA “Joy”) YAN, MD, PHD
				
	Dated:	 	09/24/2020	  		  	 /s/ Jinchun “Joy” Yan

				
		 		  		  	AMBRX, INC.
					
	Dated:	 	09/25/2020	  		  	By:	  	 /s/ Feng Tian

		 		  		  	Name:	  	Feng Tian
		 		  		  	Title:	  	CEO and President

  
 10 

 EXHIBIT A 

COMPANY CONFIDENTIALITY AND PROPRIETARY RIGHTS AGREEMENT 

[Attached] 
  

  
 A-1 

 EXHIBIT B 

GENERAL RELEASE OF CLAIMS 

This General Release of Claims (“Release”) is entered into as of this _____ day of __________, 2020, between JOY YAN, MD, PhD
(“Executive”), and Ambrx, Inc., a Delaware corporation (the “Company”) (collectively referred to herein as the “Parties”). 

WHEREAS, Executive and the Company are parties to that certain Executive Employment Agreement dated as of ______, 2020 (the
“Agreement”); 
 WHEREAS, the Parties agree that Executive is entitled to certain severance benefits under the Agreement,
subject to Executive’s execution of this Release; and 
 WHEREAS, the Company and Executive now wish to fully and finally to resolve
all matters between them. 
 NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Executive pursuant to the
Agreement, the adequacy of which is hereby acknowledged by Executive, and which Executive acknowledges that he would not otherwise be entitled to receive, Executive and the Company hereby agree as follows: 

1. General Release of Claims by Executive. 

(a) Executive, on behalf of herself and hers executors, heirs, administrators, representatives and assigns, hereby agrees to release and
forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or
limited partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his employment with or service to the Company (collectively, the “Company
Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation,
responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”),
which Executive has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof or on or prior to the date hereof, arising directly or indirectly out of, relating to, or in any other
way involving in any manner whatsoever Executive’s employment by or service to the Company or the termination thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation
claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims
under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as
amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C.
Section 621, et seq. (the “ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and
Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee 

  
 B-1 

 
Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940,
et seq. 
 Notwithstanding the generality of the foregoing, Executive does not release the following claims: 

(i) Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state
law; 
 (ii) Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation
insurance policy or fund of the Company; 
 (iii) Claims pursuant to the terms and conditions of the federal law known as
COBRA; 
 (iv) Claims for indemnity under the bylaws of the Company, as provided for by Delaware law or under any applicable
insurance policy with respect to Executive’s liability as an employee, director or officer of the Company; 
 (v)
Claims based on any right Executive may have to enforce the Company’s executory obligations under the Agreement; and 

(vi) Claims Executive may have to vested or earned compensation and benefits. 

(b) EXECUTIVE ACKNOWLEDGES THAT HE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH
PROVIDES AS FOLLOWS: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT
TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS SHE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR
COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 (c) Executive acknowledges that in accordance with the Older Worker’s Benefit Protection
Act: 
 (i) This Release does not release any claims arising after the date on which Executive signs this release; 

(ii) this Release was presented to her on the date indicated above and that Executive is entitled to have fifty
(50) days’ time in which to consider it Executive represents and acknowledges that if Executive executes this Release before fifty (50) days have elapsed, Executive does so knowingly, voluntarily, and upon the advice and with the
approval of Executive’s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period; 

  
 B-2 

 (iii) the Company has advised her that she is waiving her rights under the
ADEA, and that Executive may obtain advice concerning this Release from an attorney of her choice, and Executive has had sufficient time to consider the terms of this Release; and 

(iv) Executive understands that after executing this Release, Executive has the right to revoke it within seven (7) days
after her execution of it. Executive understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Executive does not revoke the Release in writing. Executive understands that this
Release may not be revoked after the seven (7) day revocation period has passed. Executive also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of business within the
seven (7) day period. 
 (v) Executive understands that this Release shall become effective, irrevocable, and binding
upon Executive on the eighth (8th) day after her execution of it (the 3Effective Date ́), so long as Executive has not revoked it within the time period and in the manner specified in clause (c( iv) above. Executive further
understands that Executive will not be given any severance benefits under the Agreement until the Effective Date. 
 2. No Assignment.
Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees, or any of them. Executive agrees to indemnify and hold
harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys¶ fees incurred as a result of any such assignment or transfer from Executive. 

3. Paragraph Headings. The headings of the several paragraphs in this Release are inserted solely for the convenience of the Parties and
are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof. 
 4.
Severability. The invalidity or unenforceability of any provision of this Release shall not affect the validity or enforceability of any other provision of this Release, which shall remain in full force and effect. 

5. Governing Law and Venue. This Release is to be governed by and construed in accordance with the laws of the State of California
applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof. Any suit brought hereon shall be brought in the state or federal courts sitting in San Diego, California, the
Parties hereby waiving any claim or defense that such forum is not convenient or proper. Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by
California law. 
 6. Counterparts. This Release may be executed in several counterparts, each of which shall be deemed to be an
original but all of which together shall constitute one and the same instrument. 
 7. Construction. The language in all parts of this
Release shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto. Without limitation, there shall be no presumption against any party on the ground that such party was
responsible for drafting this Release or any part thereof. 

  
 B-3 

 8. Entire Agreement. This Release and the Agreement set forth the entire agreement of
the Parties in respect of the subject matter contained herein and therein and supersede all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or
representative of any party hereto, and any prior agreement of the Parties in respect of the subject matter contained herein. 
 9.
Amendment. No provision of this Release may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and such officer of the Company as may be specifically designated by
the CEO. 
 10. Understanding and Authority. The Parties understand and agree that all terms of this Release are contractual and are
not a mere recital and represent and warrant that they are competent to covenant and agree as herein provided. The Parties have carefully read this Release in its entirety; fully understand and agree to its terms and provisions; and intend and agree
that it is final and binding on all Parties. 
 IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the
foregoing Release as of the date first written above. 
  

									
	EXECUTIVE	 		  		  	AMBRX, INC.

									
				
	  
	  		  	By:	  	  

					
	Print  Name:	 	  
	  		  		  	

									
		 		  		  	                      Print Name:	  	  

									
					
		 		  		  	                    Title:	  	  

  

  
 B-4 

 EXHIBIT C 

SUMMARY OF PERFORMANCE-BASED STOCK OPTION CRITERIA 

The Board of Directors of Ambrx Biopharma, Inc. (“Ambrx Biopharma Board”) has approved that the Executive shall be granted stock
options to purchase additional ordinary shares of Ambrx Biopharma, Inc. based on the four milestones listed below (the “Milestone Options”). Each of the Milestone Options will be granted on the date the Ambrx Biopharma Board determines
that the applicable performance-based milestone has been achieved and will be fully vested on the grant date, provided the Executive continues to be employed by Ambrx on such date. Each of the Milestone Options will have an exercise price equal to
the fair market value per ordinary share of Ambrx Biopharma, Inc. on the date of grant, as determined by the Ambrx Biopharma Board. Whether Executive has met the performance-based milestones will be determined in the sole discretion of the Ambrx
Biopharma Board. Each of the Milestone Options will be granted under the Ambrx Biopharma Share Incentive Plan, and will be governed by terms of a Notice of Grant of Share Option and Share Option Agreement, which Executive shall be required to sign
as a condition of receiving each award. 
 Milestone #1: 309,326 ordinary shares of Ambrx Biopharma, Inc. shall be granted and vested on the
day an Ambrx drug or biological product receives the first Fast Track designation from the Food and Drug Administration of the federal Department of Health and Human Services (“FDA”), if the Fast Track designation is received within two
years from Executive’s employment start date with Ambrx. 
 Milestone #2: 309,326 ordinary shares of Ambrx Biopharma, Inc. shall be
granted and vested on the day an Ambrx drug or biological product receives the first Breakthrough Therapy Designation from the FDA, if the Breakthrough Therapy Designation is received within two years from Executive’s employment start date with
Ambrx. 
 Milestone #3: 309,326 ordinary shares of Ambrx Biopharma, Inc. shall be granted and vested on the day the Collaboration Agreements
are signed with Global Pharma that meet one of the following requirements: (a) the Collaboration Agreements are co-develop agreements and they meet a milestone of $500 Million Dollars or more including
royalties on sales and Ambrx receives $50 Million Dollars or more up front; OR (b) the Collaboration Agreements are license-out agreements with Ambrx receiving $250 Million Dollars or more upfront and the
agreements meet a milestone of $1 Billion Dollars or more including royalties on sales. The amount under this section is the collective total amount from licensees. 

Milestone #4: 309,326 ordinary shares of Ambrx Biopharma, Inc. shall be granted and vested on the day an Ambrx drug or biological product
receives the first Orphan Drug Designation from the FDA, if the Orphan Drug Designation is received within two years from Executive’s employment start date with Ambrx. 

  
 C-1 

 Amendment to Executive Employment Agreement 

This Amendment (the “Amendment”) to the Executive Employment Agreement is made as of the date indicated below. This Amendment amends
the Executive Employment Agreement, executed September 24, 2020, by and between Ambrx, a Delaware corporation (the “Company”), and Jinchun (AKA “Joy”) YAN, MD, PhD (“Executive”) (the “Executive
Agreement”). 
 The Executive Agreement is hereby amended as follows: 

 

	 	1.	 Paragraph 4.5 is eliminated in its entirety. 

 

	 	2.	 Paragraph 9 is eliminated in its entirety and replaced with the following language: 

 

	 	9.	 Restrictions on Disclosure, Competition and Customer and Employee Solicitation.

  

	 	9.1	 Non-Disclosure. Executive understands and agrees that the
Company’s employees, customers and partners and any information regarding the Company’s employees, customers and/or partners is confidential and constitutes trade secrets of the Company (“Confidential Information and Trade
Secrets”). Executive agrees that during his employment and for an indefinite period thereafter, Executive will hold in strictest confidence, and will not directly or indirectly use, disclose or allow to be disclosed to any person, firm, or
corporation, the Company’s Confidential Information and Trade Secrets, unless previously authorized by the Company for use in the pursuit of Company business, and for the benefit of the Company. 

 

	 	9.2	 Restrictions on Employee Solicitation. Notwithstanding any other provision of this Agreement, including
the Company Confidentiality and Proprietary Rights Agreement incorporated herein by reference, Executive agrees that, to the fullest extent permitted by applicable law, during his employment and for a period of one (1) year after the conclusion
of his employment, Executive will not, either directly or indirectly, separately or in association with others interfere with, impair, disrupt or damage the Company’s business by soliciting, encouraging or recruiting any of the Company’s
employees or causing others to solicit or encourage any of the Company’s employees to discontinue their employment with the Company. 

  

	 	9.3	 Restrictions on Competition. For one (1) year following the end of Executive’s employment, for
any reason, Executive will not, directly or indirectly, provide Restricted Services for or on behalf of any Competitive Business. During such period, Executive also will not, directly or indirectly, provide any Competitive Business with any advice
or counsel 

	 	
in the nature of the Restricted Services. The term “Restricted Services” means services of any kind or character comparable to those provided by Executive to Company during his
employment with Company. The term “Competitive Business” means any entity (including related entities) which is/are engaged in or about to become engaged in the development, production or sale of any product, process or service concerning
the treatment of any disease, which product, process or service resembles or competes with any product, process or service that was sold by, or in development at the Company during Employee’s employment with the Company. Because of the global
nature of the Company’s business, it is agreed that the restrictions set forth above shall apply in the “Restricted Area,” defined as including without limitation, North America and the geographic regions where Executive worked in and
was responsible for while employed by the Company, and any other geographic area (country, province, state, city or other political subdivision) in which the Company is engaged in business and/or is otherwise selling products or services at the time
Executive ceased working for the Company. 

  

	 	9.4	 Restrictions on Customer Solicitation. For one (1) year following the end of Executive’s
employment, for any reason, Executive will not, directly or indirectly, attempt to sell to any Restricted Customer any goods, products or services of any type similar to the type sold by Company prior to the termination of Employee’s
employment. The term “Restricted Customer” means any individual or entity (i) for whom Company provided goods, products or services and (ii) with whom/which Executive was the principal contact on behalf of Company or about
whom/which Executive acquired non-public information in connection with his employment by Company. 

  

	 	9.5	 Prospective Employers. Executive agrees, during the term of any restriction contained in this Agreement,
to disclose this Agreement to any entity which offers employment to Executive. Executive further agrees that the Company may send a copy of this Agreement to, or otherwise make the provisions hereof known to, any of Executive’s potential
employers 

  

	 	9.6	 Scope of Restrictions. Executive acknowledges and represents that the scope of the restrictions
contained in this Agreement are appropriate, necessary and reasonable for the protection of the Company’s business, goodwill, and property rights. Executive further acknowledges that the restrictions imposed will not prevent him from earning a
living in the event of, and after, the end of his employment with the Company, for whatever reason. 

	 	3.	 Paragraph 13.7 is eliminated in its entirety and replaced with the following language: 

13.7 (Governing Law). This Agreement will be governed by and construed in accordance with the laws of the United States and the State of
Pennsylvania. 
  

	 	4.	 Paragraph 14(h)(iii)(C) is eliminated in its entirety. 

All other provisions of the Executive Agreement, including exhibits, remain unchanged. 

IN WITNESS WHEREOF, Executive and the Company have executed this Amendment, in the case of the Company by its duly authorized officer, as of the day and year
written below. 
  

									
	Ambrx, Inc.	 		 	
					
	Date:	 	01/27/2021	 		 	By:	 	/s/ Feng Tian
		 		 		 	Name:	 	Feng Tian
		 		 		 	Title:	 	Chief Executive Officer
			
	EXECUTIVE	 		 	
				
	Date:	 	01/27/2021	 		 	/s/ Jinchun Yan
		 		 		 	Jinchun (AKA “Joy”) YAN, MD, PhD

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