Document:

EX-10.4

 Exhibit 10.4 

AADI BIOSCIENCE, INC. 

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT 

This Amended and Restated Executive Employment Agreement (the “Agreement”) is entered into as of August 26, 2021, by and
between Aadi Bioscience, Inc. ( “Aadi”), and Neil Desai (“Executive”). This Agreement will be effective as of the effective time of the Merger (as defined below) (such date, the “Effective Date”).

 RECITALS 
 WHEREAS,
on May 16 2021, Aadi entered into an Agreement and Plan of Merger with Aerpio Pharmaceuticals, Inc. (“Aerpio”) and certain other parties (such agreement, the “Merger Agreement”), pursuant to which a
wholly-owned subsidiary of Aerpio will merge with and into Aadi with Aadi surviving as a wholly-owned subsidiary of Aerpio, with Aerpio changing its name shortly following the completion of the transactions contemplated by the Merger Agreement (the
“Merger”) to Aadi Bioscience, Inc. (“Parent”) as the publicly traded company; references to the “Company” in this Agreement shall mean Parent or Aadi or its successor, as applicable; 

WHEREAS, the Company wishes to retain the services of Executive following the Effective Date and Executive wishes to be employed by the
Company following the Effective Date on the terms and subject to the conditions set forth in this Agreement. 
 NOW THEREFORE, in consideration of the
foregoing recital and the respective undertakings of the Company and Executive set forth below, the Company and Executive agree as follows: 

1. Duties and Scope of Employment. 

(a) Positions and Duties. Executive will continue to serve as the Company’s Chief Executive Officer. Executive will render such
business and professional services in the performance of Executive’s duties, consistent with Executive’s position within the Company, as will reasonably be assigned to Executive by Parent’s Board of Directors (the
“Board”). The period of Executive’s employment under this Agreement is referred to herein as the “Employment Term.” 

(b) Board Membership. During the Employment Term, Executive will serve on Parent’s Board, subject to any required Board and/or
stockholder approval. 
 (c) Obligations. During the Employment Term, Executive will perform Executive’s duties faithfully and to
the best of Executive’s ability and will devote Executive’s reasonable business efforts and time to the Company, subject to the terms hereof. For the duration of the Employment Term, Executive agrees not to engage in any other
employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Board, except for such time and effort, not to exceed 15% of Executive’s working time based on a normal 40 hour work week,
whether or not compensated, associated with Aadigen, LLC (in which Executive is currently the 100% owner) or work on the Desai Products, and provided that following the Effective Date, such engagement, employment, occupation or consulting activity
for other 
  

 entities shall not require Executive to hold the title of Chief Executive Officer. For the purposes of this
Agreement, “Desai Products” means any or all of the products at any stage of development, in Executive’s personal enterprises, including without limitation Aadigen, LLC, including products and technologies comprising amino acid
constructs or peptides and their uses, and their combinations with small molecules, oligonucleotides, polynucleotides, or proteins for pharmaceutical or non-pharmaceutical applications. Additionally, Executive
will be allowed to maintain his existing board positions in Mercator Medsystems, Divincell SAS, and Aadigen, LLC and shall be allowed to hold a board position in one additional company that is not affiliated with the Company, subject to
Executive’s compliance with the Confidential Information Agreement. 
 2. At-Will
Employment. The parties agree that Executive’s employment with the Company will be “at-will” employment and may be terminated at any time with or without Cause or notice. Executive
understands and agrees that neither Executive’s job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by implication or
otherwise, of Executive’s employment with the Company. However, as described in this Agreement, Executive may be entitled to severance benefits depending on the circumstances of Executive’s termination of employment with the Company. 

3. Compensation. 
 (a)
Base Salary. Effective as of the Effective Date, the Company will pay Executive an annual salary of $600,000 as compensation for Executive’s employment services to the Company (the “Base Salary”). The Base Salary will be
paid periodically in accordance with the Company’s normal payroll practices and be subject to the usual, required withholdings. Executive’s salary will be subject to review and adjustments will be made based upon the Company’s normal
performance review practices. 
 (b) Target Bonus. Effective as of the Effective Date, Executive will be eligible to receive an annual
bonus of up to 60% of Executive’s Base Salary upon achievement of performance objectives to be determined by the Board or its authorized committee (the “Committee”) in its sole discretion (the “Target Bonus”).
The achieved portion of Executive’s Target Bonus, if any, will be paid, less applicable withholdings, as soon as practicable after the Committee determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid
after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which
the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned. 
 (c) Equity.
During the Employment Term, Executive will be eligible to receive equity awards pursuant to any plans or arrangements Parent may have in effect from time to time. The Committee will determine in its discretion whether Executive will be granted any
equity awards and the terms of any equity award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. 

  
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 4. Employee Benefits. During the Employment Term, Executive will be entitled to
participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability to other senior executives of the Company. The Company reserves the right to cancel or change the benefit plans and programs it
offers to its employees at any time. Executive shall also be entitled to five weeks of vacation, accruing annually, and participation in any 401(k) or employee benefit plan established by the Company, each as subject to the terms and conditions of
such plans or programs adopted by the Company. 
 5. Expenses. The Company will reimburse Executive for reasonable travel,
entertainment or other expenses incurred by Executive in the furtherance of or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to
time. 
 6. Severance. 

(a) Termination for other than Cause, Death or Disability Apart from a Change of Control. If, outside of the Change of Control Period,
(i) the Company (or any parent or subsidiary or successor of the Company) terminates Executive’s employment with the Company other than for Cause, death or Disability, or (ii) the Executive resigns from such employment for Good
Reason, then, subject to Section 7, Executive will be entitled to receive: 
 (i) continuing payments of severance pay for a period of
twelve (12) months at a rate equal to the sum of (A)(x) one hundred percent (100%) of Executive’s Base Salary rate, as then in effect, plus (y) the sum of all performance bonuses paid to Executive for the Company’s fiscal
year immediately preceding the fiscal year in which Executive’s termination of employment occurs divided by (B) 12. The severance will be paid, less applicable withholdings, in installments over the severance period described herein with
the first payment to commence on the sixty-first (61st) day following Executive’s termination of employment (and include any severance payments that otherwise would have been paid to Executive within the sixty (60) days following
Executive’s termination date), with any remaining payments paid in accordance with the Company’s normal payroll practices for the remainder of the severance period following Executive’s termination of employment (subject to any delay
as may be required by Section 7(c)). 
 (ii) if Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such
coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of eighteen (18) months from the date of termination or (B) the date upon which Executive and/or
Executive’s eligible dependents are no longer eligible for COBRA continuation coverage. The reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy. Notwithstanding the
first sentence of this Section 6(a)(ii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without
limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable monthly payment, payable on the last day of a given month (except as provided by the following sentence), in an amount
equal to the monthly COBRA premium that Executive would be required to pay to continue the group health coverage for Executive and/or Executive’s eligible dependents in effect on the termination of employment date (which amount will be based on
the premium for the first month of COBRA coverage), which payments will be made 

  
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regardless of whether Executive and/or Executive’s eligible dependents elect COBRA continuation coverage and will commence on the month following Executive’s termination of employment
and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to eighteen (18) payments. Any such taxable monthly payments that otherwise would have been
paid to Executive within the sixty (60) days following Executive’s termination date instead will be paid on the sixty-first (61st) day following Executive’s termination of employment, with any remaining payments paid as provided in
the prior sentence (subject to any delay as may be required by Section 7(c)). For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage
under COBRA, and will be subject to all applicable tax withholdings. 
 (iii) if termination occurs within twelve (12) months of the
Effective Date of this Agreement, accelerated vesting as to one hundred percent (100%) of Executive’s then-outstanding unvested equity awards to acquire Parent common stock. 

(b) Termination for other than Cause, Death or Disability or Resignation by Executive for Good Reason Related to a Change of Control.
If, within the Change of Control Period (i) the Company (or any parent or subsidiary or successor of the Company) terminates Executive’s employment with the Company other than for Cause, death or Disability, or (ii) the Executive
resigns from such employment for Good Reason, then, subject to Section 8, Executive will be entitled to receive: 
 (i) a lump sum
payment equal to one hundred and fifty percent (150%) of the sum of: (A) Executive’s Base Salary, as then in effect, or if greater, at the level in effect immediately prior to the Change of Control, plus (B) Executive’s
Target Bonus in effect for the fiscal year in which Executive’s termination of employment occurs. The severance will be paid, less applicable withholdings, on the sixty-first (61st) day following Executive’s termination of employment in
accordance with the Company’s normal payroll practices (subject to any delay as may be required by Section 7(c)). For the avoidance of doubt, if (x) Executive incurred a termination of employment prior to a Change of Control that
qualifies Executive for severance payments under Section 6(a)(i); and (y) a Change of Control occurs within the three (3)-month period following Executive’s termination of employment that qualifies Executive for the superior benefits
under this Section 6(b)(i), then Executive shall be entitled to a lump-sum payment of the amount calculated under this Section 6(b)(i), less amounts already paid under Section 6(a)(i). 

(ii) if Executive elects continuation coverage pursuant to COBRA within the time period prescribed pursuant to COBRA for Executive and
Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of
eighteen (18) months from the date of termination or (B) the date upon which Executive and/or Executive’s eligible dependents are no longer eligible for COBRA continuation coverage. The reimbursements will be subject to the same
conditions, limitations, and restrictions as the COBRA benefits described in Section 6(a)(ii); provided, however, that if the Company provides Executive a taxable monthly payment in lieu of COBRA reimbursement, such payment will be subject to
the same conditions, limitations, and restrictions as COBRA benefits described in Section 6(a)(ii). For the avoidance of doubt, if (x) Executive incurred a termination of employment prior to a Change of Control that qualifies Executive for
COBRA benefits under Section 6(a)(ii); and (y) a Change of Control occurs within the three (3)-month period following Executive’s termination of employment that qualifies Executive for the benefits under this Section 6(b)(ii),
then Executive’s benefits under this Section 6(b)(ii) shall be offset by the benefits already provided to Executive under Section 6(b)(i). 

  
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 (iii) accelerated vesting as to one hundred percent (100%) of Executive’s
then-outstanding and unvested equity awards to acquire Parent common stock. 
 (c) Termination for Cause, Death or Disability; Resignation
without Good Reason. If Executive’s employment with the Company (or any parent or subsidiary or successor of the Company) terminates voluntarily by Executive (except upon resignation for Good Reason), for Cause by the Company or due to
Executive’s death or Disability, then (i) all vesting will terminate immediately with respect to Executive’s outstanding equity awards, (ii) all payments of compensation by the Company to Executive hereunder will terminate
immediately (except as to amounts already earned), and (iii) Executive will only be eligible for severance benefits in accordance with the Company’s established policies, if any, as then in effect. 

(d) Exclusive Remedy. In the event of a termination of Executive’s employment with the Company (or any parent or subsidiary or
successor of the Company), the provisions of this Section 7 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Company may otherwise be entitled, whether at law, tort or contract, in
equity, or under this Agreement, including any prior employment agreements entered into between the Company and Executive. Executive will be entitled to no severance or other benefits upon termination of employment with respect to acceleration of
award vesting or severance pay other than those benefits expressly set forth in this Section 7. 
 7. Conditions to Receipt of
Severance; No Duty to Mitigate. 
 (a) Separation Agreement and Release of Claims. The receipt of any severance pursuant to
Section 6(a) or (b) will be subject to Executive signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company (the “Release”) and provided that such Release becomes
effective and irrevocable no later than sixty (60) days following the termination date (such deadline, the “Release Deadline”). If the Release does not become effective and irrevocable by the Release Deadline, Executive will
forfeit any rights to severance or benefits under this Agreement. In no event will severance payments or benefits be paid or provided until the Release becomes effective and irrevocable. 

(b) Reserved. 
 (c)
Section 409A. 
 (i) Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to
be paid or provided to Executive, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Code Section 409A, and the final
regulations and any guidance promulgated thereunder (“Section 409A”) (together, the “Deferred Payments”) will be paid or otherwise provided until Executive has a “separation from
service” within the meaning of Section 409A. Similarly, no severance payable to Executive, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-1(b)(9) will be payable until Executive has a “separation from service” within the meaning of Section 409A. 

  
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 (ii) Notwithstanding anything to the contrary in this Agreement, if Executive is a
“specified employee” within the meaning of Section 409A at the time of Executive’s termination (other than due to death), then the Deferred Payments that are payable within the first six (6) months following Executive’s
separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s separation from service. All subsequent Deferred Payments, if
any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s separation from service, but prior to the six
(6) month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Executive’s death and all other
Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. 
 (iii) Any amount paid under this Agreement
that satisfies the requirements of the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of clause
(i) above. 
 (iv) Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from
service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit (as defined below) will not constitute Deferred Payments for purposes of clause
(i) above. 
 (v) The foregoing provisions are intended to comply with the requirements of Section 409A so that none of the
severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The Company and Executive agree to work together in good
faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under
Section 409A. Executive agrees and acknowledges that the Company makes no representations or warranties with respect to the application of Section 409A and other tax consequences to any payments hereunder and, by the acceptance of any such
payments, Executive agrees to accept the potential application of Section 409A and the other tax consequences of any payments made hereunder. 

(d) Confidential Information Agreement. Executive’s receipt of any payments or benefits under Section 6 will be subject to
Executive continuing to comply with the terms of Confidential Information Agreement (as defined in Section 10). In the event Executive breaches the provisions of the Confidential Information Agreement, all continuing payments and benefits to
which Executive may otherwise be entitled pursuant to Section 6(a) or (b) will immediately cease. 

  
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 (e) No Duty to Mitigate. Executive will not be required to mitigate the amount of any
payment contemplated by this Agreement, nor will any earnings that Executive may receive from any other source reduce any such payment. 
 8.
Definitions. 
 (a) Cause. For purposes of this Agreement, “Cause” is defined as (i) the willful failure,
disregard, or refusal by Executive to perform the services hereunder or follow the reasonable instructions of the Board; provided, however, that any willful failure, disregard, or refusal by Executive to perform the services hereunder
that can reasonably be cured shall not constitute Cause unless cure is not effected, as determined in good faith by the Board, within thirty (30) days after notice thereof is received by the Executive from the Company; (ii) any willful or
grossly negligent act by the Executive having the effect of injuring, in a material way (whether financial or otherwise) as determined in good faith by the Board, the business or reputation of the Company or any of its subsidiaries or affiliates;
(iii) Executive’s conviction of, guilty plea, or plea of nolo contendere to any felony or a misdemeanor involving moral turpitude; (iv) the determination by the Company, after a reasonable and good faith investigation by the Company
following a written allegation by an employee of the Company, that the Executive engaged in some form of harassment prohibited by law (including, without limitation, age, sex, disability, or race discrimination) unless Executive’s actions were
specifically directed by the Board; or (v) material breach by the Executive of any provision of this Agreement or any Confidential Information Agreement. 

(b) Change of Control. For purposes of this Agreement, “Change of Control” means the occurrence of any of the following
events: 
 (i) a change in the ownership of Parent which occurs on the date that any one person (as defined in Section 13(d) and
Section 14(d) of the Exchange Act), or more than one person acting as a group (“Person”), acquires ownership of the stock of Parent that, together with the stock held by such Person, constitutes more than fifty percent
(50%) of the total voting power of the stock of Parent; provided, however, that for purposes of this subsection, the acquisition of additional stock by any one Person, who is considered to own more than fifty percent (50%) of the total
voting power of the stock of Parent will not be considered a Change in Control; provided, further, that any change in the ownership of the stock of Parent as a result of a private financing of Parent that is approved by the Board also will not be
considered a Change of Control. Further, if the stockholders of Parent immediately before such change in ownership continue to retain immediately after the change in ownership, in substantially the same proportions as their ownership of shares of
the Company’s voting stock immediately prior to the change in ownership, direct or indirect beneficial ownership of fifty percent (50%) or more of the total voting power of the stock of Parent or of the ultimate parent entity of Parent, such
event shall not be considered a Change of Control under this subsection (i). For this purpose, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations
or other business entities which own Parent, as the case may be, either directly or through one or more subsidiary corporations or other business entities; or 

  
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 (ii) a change in the ownership of a substantial portion of Parent’s assets which
occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from Parent that have a total gross fair market value
equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of Parent immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (ii), the following
will not constitute a change in the ownership of a substantial portion of Parent’s assets: (A) a transfer to an entity that is controlled by Parent’s stockholders immediately after the transfer, or (B) a transfer of assets by
Parent to: (1) a stockholder of Parent (immediately before the asset transfer) in exchange for or with respect to Parent’s stock, (2) an entity, fifty percent (50%) or more of the total value or voting power of which is
owned, directly or indirectly, by Parent, (3) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of Parent, or (4) an entity, at least fifty percent
(50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (8)(b)(ii). For purposes of this subsection (ii), gross fair market value means the value of the assets of Parent, or
the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of
this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with Parent. 

Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control
event within the meaning of Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from
time to time. 
 Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole
purpose is to change the state of Parent’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held Parent’s securities immediately before
such transaction. 
 (c) Change of Control Period. For purposes of this Agreement, “Change of Control Period” means
the period that begins three (3) months prior to a Change of Control and ends twelve (12) months following a Change of Control. 

(d) Code. For purposes of this Agreement, “Code” means the Internal Revenue Code of 1986, as amended. 

(e) Disability. For purposes of this Agreement, “Disability” means that Executive has been unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment for a period of ninety (90) consecutive days or more, or more than one hundred and eighty (180) days within any twelve (12)-month period, in
each case, determined by the Board. 
 (f) Good Reason. For the purposes of this Agreement, “Good Reason” means
Executive’s resignation within thirty (30) days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of the following, without Executive’s express written consent: (i) a
material breach of any provision of this Agreement by the Company; (ii) any material reduction by the Company of Executive’s duties, responsibilities, or authority which 

  
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causes Executive’s position to become materially of less responsibility or authority than Executive’s position as of immediately following the Effective Date; it being understood that a
change to Executive’s title resulting in him no longer serving as Chief Executive Officer would constitute “Good Reason” under this Agreement; (iii) a material relocation of the Company’s principal place of business of
Executive outside of the Los Angeles Metropolitan area; or (iv) a material (more than 7%) diminution in Executive’s base salary (other than in the context of salary or consideration reductions applied in identical percentages to all
executive officers of the Company). Executive will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good Reason” within ninety (90) days of the
initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than thirty (30) days following the date the Company receives such notice during which such condition must not have been cured. 

(g) Section 409A Limit. For purposes of this Agreement, “Section 409A Limit” will
mean two (2) times the lesser of: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during the Executive’s taxable year preceding the Executive’s taxable year of Executive’s
separation from service as determined under Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount
that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Internal Revenue Code for the year in which Executive’s separation from service occurred. 

9. Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise payable to
Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but for this Section 9, would be subject to the excise tax imposed by Section 4999 of the Code, then
Executive’s severance benefits will be either: 
 (a) delivered in full, or 

(b) delivered as to such lesser extent which would result in no portion of such severance benefits being subject to the excise tax under
Section 4999 of the Code, 
 whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the
excise tax imposed by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such severance
benefits may be taxable under Section 4999 of the Code. If a reduction in the severance and other benefits constituting “parachute payments” is necessary so that no portion of such severance benefits is subject to the excise tax under
Section 4999 of the Code, the reduction shall occur in the following order: (1) reduction of the cash severance payments; (2) cancellation of accelerated vesting of equity awards; and (3) reduction of continued employee benefits.
In the event that acceleration of vesting of equity award compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of Executive’s equity awards. 

  
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 A nationally recognized certified professional services firm selected by the Company, the
Company’s legal counsel or such other person or entity to which the parties mutually agree (the “Firm”) shall perform the foregoing calculations related to the Excise Tax. The Company shall bear all expenses with respect to the
determinations by the Firm required to be made hereunder. For purposes of making the calculations required by this Section, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good
faith interpretations concerning the application of Code Sections 280G and 4999. The Company and Executive will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this
Section. The Firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the Company and Executive within fifteen (15) calendar days after the date on which
Executive’s right to the severance benefits or other payments is triggered (if requested at that time by the Company or Executive) or such other time as requested by the Company or Executive. Any good faith determinations of the Firm made
hereunder shall be final, binding, and conclusive upon the Company and Executive. 
 10. Confidential Information. Executive agrees to
execute the Company’s Confidential Information and Invention Assignment Agreement (the “Confidential Information Agreement”) concurrently with the execution of this Agreement. 

11. Reserved. 
 12.
Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal representatives of Executive upon Executive’s death and (b) any successor of Parent or AADi, as applicable. Any such
successor of Parent or AADi, as applicable will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose, “successor” means 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 Parent or AADi, as applicable. None of the rights of Executive to receive any form of compensation
payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance or other disposition of Executive’s right to compensation or other
benefits will be null and void. 
 13. Notices. All notices, requests, demands and other communications called for hereunder will be
in writing and will be deemed given (i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well-established commercial overnight service, or (iii) four (4) days after being mailed by registered or
certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 

AADi Bioscience, Inc. 

17383 Sunset Boulevard, Suite A250 

Pacific Palisades, CA 90272 

Attn: Board of Directors 

If to Executive: 

at the last residential address known by the Company. 

  
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 14. Severability. In the event that any provision hereof becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 

15. Arbitration. Executive agrees that any and all controversies, claims, or disputes with anyone (including the Company and any
employee, officer, director, stockholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s service to the Company, shall be subject to arbitration in accordance
with the provisions of the Confidential Information Agreement. 
 16. Integration. This Agreement, along with the Confidential
Information Agreement and the plan and agreements governing your outstanding equity awards, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements
whether written or oral, including the Employment Agreement by and between the Executive and AADi dated January 1, 2017. With respect to equity awards granted on or after the date of this Agreement, the acceleration of vesting provisions
provided herein will apply to such equity awards except to the extent the applicable equity award agreement expressly supersedes this Agreement. This Agreement may be modified only by agreement of the parties by a written instrument executed by the
parties that is designated as an amendment to this Agreement. 
 17. Waiver of Breach. The waiver of a breach of any term or provision
of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

18. Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this
Agreement. 
 19. Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of applicable taxes.

 20. Governing Law. This Agreement will be governed by the laws of the State of California (with the exception of its conflict of
laws provisions). 
 21. Acknowledgment. Executive acknowledges that Executive has had the opportunity to discuss this matter with and
obtain advice from Executive’s private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. 

22. Counterparts. This Agreement may be executed in counterparts, and each counterpart will have the same force and effect as an
original and will constitute an effective, binding agreement on the part of each of the undersigned. 

  
 11 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by their duly authorized officers, as of the day and year first above written. 
  

							
	COMPANY:	  		 	
			
	AADI BIOSCIENCE, INC.	  		 	
				
	By:	 	 /s/ Caley Castelein
	  		 	                Date: August 26, 2021
	Title:	 	Chair of the Board of Directors	  		 	
			
	EXECUTIVE:	  		 	
			
	 /s/ Neil Desai
	  		 	Date: August 26, 2021                        
	NEIL DESAI, PH.D.	  		 	

 [SIGNATURE PAGE TO EXECUTIVE EMPLOYMENT AGREEMENT] 

  
 12EX-10.5

 Exhibit 10.5 

Certain portions of this document have been omitted pursuant to Item 601(b)(10) of Regulation S-K and, where applicable, have been marked with
“[***]” to indicate where omissions have been made. The marked information has been omitted because it is (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed. The registrant hereby
undertakes to provide further information regarding such marked information to the Securities and Exchange Commission upon request. 

CONSULTING AGREEMENT 

This Consulting Agreement (the “Agreement”) is made effective as of July 20, 2021 (the “Effective Date”), by and
between Aadi Bioscience, Inc., a Delaware corporation, with its principal place of business being 17383 Sunset Blvd, Pacific Palisades, CA 90272 (the “Company”) and Danforth Advisors, LLC, a Massachusetts limited liability company, with
its principal place of business being 91 Middle Road, Southborough, MA 01772 (“Danforth”). The Company and Danforth are herein sometimes referred to individually as a “Party” and collectively as the “Parties.” 

WHEREAS, the Company is focusing on precision therapies for genetically-defined cancers with alterations in mTOR pathway genes; and 

WHEREAS, Danforth has expertise in financial and corporate operations and strategy; and 

WHEREAS, Danforth desires to serve as an independent consultant for the purpose of providing the Company with certain strategic and financial
advice and support services, using personnel described in Exhibit A attached hereto, (the “Services”); and 
 WHEREAS, the
Company wishes to engage Danforth on the terms and conditions set forth herein. 
 NOW THEREFORE, in consideration of the foregoing and for
other good and valuable consideration, the receipt of which are hereby acknowledged, the Parties agree and covenant as follows. 
  

	1.	 Services of Consultant. Danforth will assist the Company with matters relating to the Services. The
Services are more fully described in Exhibit A attached hereto. Danforth and the Company will review the Services on a monthly basis to determine appropriate staffing requirements. Company shall have the right to request changes to the
Danforth personnel at any time in writing. If Company makes a written request, Danforth shall replace such personnel subject to the Company’s right of pre-approval. 

 

	2.	 Compensation for Services. In full consideration of Danforth’s full, prompt and faithful
performance of the Services, the Company shall compensate Danforth a consulting fee more fully described in Exhibit A (the “Consulting Fee”). Danforth shall invoice the Company for Services rendered on a monthly basis, and such
invoice will be paid upon 30 days of receipt. Each month the Parties shall evaluate jointly the current fee structure and scope of Services. Danforth reserves the right to an annual increase in consultant rates of up to 4%, effective twelve
(12) months following the “Effective Date”. Upon termination of this Agreement pursuant to Section 3, no compensation or benefits of any kind as described in this Section 2 shall be payable or issuable to Danforth after the
effective date of such termination. In addition, the Company will reimburse Danforth for reasonable out-of-pocket business expenses, including but not limited to travel
and parking, incurred by Danforth in performing the Services hereunder, upon submission by Danforth of supporting documentation reasonably acceptable to the Company. Any such accrued expenses in any given three (3) month period that exceed
$1,000 shall be submitted to the Company for its prior written approval. 

  
 1 

 All Danforth invoices and billing matters should be addressed to: 

Company Accounts Payable Contact: 
  

			
	Name:	  	Zac Rhodes
	Title:	  	Vice President, Finance AADi Bioscience, Inc.
	Address:	  	17383 Sunset Blvd, Pacific Palisades, CA 90272
	Phone:	  	[***]
	E-mail:	  	[***]

 All Company payments and billing inquiries should be addressed to: 

			
		
	Danforth Accounting:	  	Betsy Sherr
		  	[***]
		  	[***]
		  	 Danforth Advisors
 PO Box 335

Southborough, MA 01772

  

	3.	 Term and Termination. The term of this Agreement will commence on the Effective Date and will continue
until such time as either Party has given notice of termination pursuant to this paragraph 3 (the “Term”). This Agreement may be terminated by either Party hereto: (a) with Cause (as defined below), immediately withwritten notice to
the other Party; or (b) without cause upon 60 days prior written notice to the other Party. For purposes of this Section 3, “Cause” shall include: (i) a breach of the terms of this Agreement which is not cured within 14 days
of written notice of such default or (ii) the commission of any act of fraud, embezzlement or deliberate disregard of a rule or policy of the Company. 

  

	4.	 Time Commitment. Danforth will devote such time to perform the Services under this Agreement as may
reasonably be required. Danforth does not guarantee time and materials estimates in any way and such estimates are not fixed prices. Danforth will notify the Company as soon as practicable if an estimate will be exceeded. 

 

	5.	 Place of Performance. Danforth will perform the Services at such locations upon which the Company and
Danforth may mutually agree. Danforth will not, without the prior written consent of the Company, perform any of the Services at any facility or in any manner that might give anyone other than the Company any rights to or allow for disclosure of any
Confidential Information (as defined below). 

  

	6.	 Compliance with Policies and Guidelines. Danforth will perform the Services in accordance with all rules
or policies adopted by the Company that the Company discloses in writing to Danforth. 

  
 2 

	7.	 Confidential Information. Danforth acknowledges and agrees that during the course of performing the
Services, the Company may furnish, disclose or make available to Danforth information, including, but not limited to, material, compilations, data, formulae, models, patent disclosures, procedures, processes, business plans, projections, protocols,
results of experimentation and testing, specifications, strategies and techniques, and all tangible and intangible embodiments thereof of any kind whatsoever (including, but not limited to, any apparatus, biological or chemical materials, animals,
cells, compositions, documents, drawings, machinery, patent applications, records and reports), which is owned or controlled by the Company and is marked or designated as confidential at the time of disclosure or is of a type that is customarily
considered to be confidential information (collectively the “Confidential Information”). Danforth acknowledges that the Confidential Information or any part thereof is the exclusive property of the Company and shall not be disclosed to any
third party without first obtaining the written consent of the Company. Danforth further agrees to take all practical steps to ensure that the Confidential Information, and any part thereof, shall not be disclosed or issued to its affiliates, agents
or employees, except on like terms of confidentiality. The above provisions of confidentiality shall apply for a period of five years. Pursuant to the Defend Trade Secrets Act of 2016, Danforth acknowledges that Danforth will not have criminal or
civil liability under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and
(B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, if Danforth
files a lawsuit for retaliation by Company for reporting a suspected violation of law, Danforth may disclose the trade secret to its attorney and may use the trade secret information in the court proceeding, if Danforth (i) files any document
containing the trade secret under seal and (ii) does not disclose the trade secret, except pursuant to court order. 

  

	8.	 Use of Name and Logo. The Company agrees to permit the use of its name and logo in a roster of Danforth
clients, which may appear on the Danforth website and in its marketing materials. 

  

	9.	 Intellectual Property. Danforth agrees that all ideas, inventions, discoveries, creations, manuscripts,
properties, innovations, improvements, know-how, designs, developments, apparatus, techniques, methods, and formulae that Danforth conceives, makes, develops or improves as a result of performing the Services,
whether or not reduced to practice and whether or not patentable, alone or in conjunction with any other party and whether or not at the request or upon the suggestion of the Company (all of the foregoing being hereinafter collectively referred to
as the “Inventions”), shall be the sole and exclusive property of the Company. 

  

	10.	 Non Solicitation. All personnel representing Danforth are employees or contracted agents of Danforth.
Accordingly, they are not retainable as employees or contractors by the Company and the Company hereby agrees not to solicit, hire or retain their services for so long as they are employees or contracted agents of Danforth and for two years
thereafter. Should the Company violate this restriction, it agrees to pay Danforth liquidated damages equal to fifty percent (50%) of the employee’s starting annual base salary and target annual

  
 3 

	 	
bonus for each Danforth contracted agent hired by the Company in violation of this Agreement plus Danforth’s reasonable attorneys’ fees and costs incurred in enforcing
this agreement should the Company fail or refuse to pay the liquidated damages amount in full within 30 days following its violation. For purposes herein, “solicit” does not include broad-based recruiting efforts, including, without
limitation, help wanted advertising and posting of open positions on a party’s internet site. 

  

	11.	 Placement Services. In the event that Danforth refers a potential employee to the Company and that
individual is hired, Danforth shall receive a fee equal to 20% of the employee’s starting annual base salary and target annual bonus. This fee is due and owing whether an individual is hired, directly or indirectly on a permanent basis or on a
contract or consulting basis by the Company, as a result of Danforth’s efforts within one year of the date applicant(s) are submitted to the Company. Such payment is due within 30 days of the employee’s start date. 

 

	12.	 No Implied Warranty. Except for any express warranties stated herein, the Services are provided on an
“as is” basis, and the Company disclaims any and all other warranties, conditions, or representations (express, implied, oral or written), relating to the Services or any part thereof. Further, in performing the Services Danforth is not
engaged to disclose illegal acts, including fraud or defalcations, which may have taken place. The foregoing notwithstanding, Danforth will promptly notify the Company if Danforth becomes aware of any such illegal acts during the performance of the
Services. Because the Services do not constitute an examination in accordance with standards established by the American Institute of Certified Public Accountants (the “AICPA”), Danforth is precluded from expressing an opinion as to
whether financial statements provided by the Company are in conformity with generally accepted accounting principles or any other standards or guidelines promulgated by the AICPA, or whether the underlying financial and other data provide a
reasonable basis for the statements. 

  

	13.	 Indemnification. Each Party hereto agrees to indemnify and hold the other Party hereto, its directors,
officers, agents and employees harmless against any claim based upon circumstances alleged to be inconsistent with such representations and/or warranties contained in this Agreement. Further, the Company shall indemnify and hold harmless Danforth
and any of its subcontractors against any claims, losses, damages or liabilities (or actions in respect thereof) that arise out of or are based on the Services performed hereunder, except for any such claims, losses, damages or liabilities arising
out of the gross negligence or willful misconduct of Danforth or any of its subcontractors. The Company will endeavor to add Consultant and any applicable subcontractor to its insurance policies as additional insureds. Furthermore, during the Term
of this Agreement, if the Company desires that Danforth provide treasury services, the Company shall obtain and maintain a Crime and Cyber Insurance Policy that includes coverage for “Social Engineering” claims and extends coverage to
Danforth. 

  
 4 

	14.	 D&O Insurance. The Company shall use commercially reasonable efforts to specifically include and
cover, as a benefit for their protection, Danforth staff serving as directors or officers of the Company or affiliates from time to time with direct coverage as named insureds under the Company’s policy for directors’ and officers’
(“D&O”) insurance. The Company will maintain such D&O insurance coverage for the period through which claims can be made against such persons. The Company disclaims a right to distribution from the D&O insurance coverage with
respect to such persons. In the event that the Company is unable to include Danforth under the Company’s policy or does not have first dollar coverage acceptable to Danforth for up to $5 million (e.g., such policy is not reserved based on
actions that have been or are expected to be filed against officers and directors alleging prior acts that may give rise to a claim), Danforth may, at its option, attempt to purchase a separate D&O policy that will cover the Danforth staff only,
with coverage capped at $5 million. The reasonable cost of same shall be invoiced to the Company as an out—of pocket cash expense. If Danforth is unable to purchase such D&O insurance, then Danforth reserves the right to terminate the
Agreement upon delivery of written notice. 

  

	15.	 Independent Contractor. Danforth is not, nor shall Danforth be deemed to be at any time during the term
of this Agreement, an employee of the Company, and therefore Danforth shall not be entitled to any benefits provided by the Company to its employees, if applicable. Danforth’s status and relationship with the Company shall be that of an
independent contractor and consultant. Danforth shall not state or imply, directly or indirectly, that Danforth is empowered to bind the Company without the Company’s prior written consent. Nothing herein shall create, expressly or by
implication, a partnership, joint venture or other association between the parties. Danforth will be solely responsible for payment of all charges and taxes arising from his or her relationship to the Company as a consultant. Except as expressly
provided herein, nothing in this Agreement shall preclude Danforth from consulting for or being employed by any other person or entity. 

  

	16.	 Records. Upon termination of Danforth’s relationship with the Company, Danforth shall deliver to
the Company any property or Confidential Information of the Company relating to the Services which may be in its possession including products, project plans, materials, memoranda, notes, records, reports, laboratory notebooks, or other documents or
photocopies and any such information stored using electronic medium. 

  

	17.	 Notices. Any notice under this Agreement shall be in writing (except in the case of verbal
communications, emails and teleconferences updating either Party as to the status of work hereunder) and shall be deemed delivered upon personal delivery, one day after being sent via a reputable nationwide overnight courier service or two days
after deposit in the mail or on the next business day following transmittal via facsimile. Notices under this Agreement shall be sent to the following representatives of the Parties: 

 

			
	If to the Company:	  	
		
	Name:	  	Neil Desai, PhD
	Title:	  	Founder, CEO and President
	Address:	  	17383 Sunset Blvd, Pacific Palisades, CA 90272
	Phone:	  	[***]
	E-mail:	  	[***]

  
 5 

			
	If to Danforth:	  	
		
	Name:	  	Gregg Beloff
	Title:	  	Managing Director
	Address:	  	91 Middle Road
		  	Southborough, MA 01772
	Phone:	  	[***]
	E-mail:	  	[***]

  

	18.	 Assignment and Successors. This Agreement may not be assigned by a Party without the consent of the
other which consent shall not be unreasonably withheld, except that each Party may assign this Agreement and the rights, obligations and interests of such Party, in whole or in part, to any of its Affiliates, to any purchaser of all or substantially
all of its assets or to any successor corporation resulting from any merger or consolidation of such Party with or into such corporation. 

  

	19.	 Force Majeure. Neither Party shall be liable for failure of or delay in performing obligations set forth
in this Agreement, and neither shall be deemed in breach of its obligations, if such failure or delay is due to natural disasters or any causes beyond the reasonable control of either Party. In the event of such force majeure, the Party affected
thereby shall use reasonable efforts to cure or overcome the same and resume performance of its obligations hereunder. 

  

	20.	 Headings. The Section headings are intended for convenience of reference only and are not intended to be
a part of or to affect the meaning or interpretation of this Agreement. 

  

	21.	 Integration; Severability. This Agreement is the sole agreement with respect to the subject matter
hereof and shall supersede all other agreements and understandings between the Parties with respect to the same. If any provision of this Agreement is or becomes invalid or is ruled invalid by any court of competent jurisdiction or is deemed
unenforceable, it is the intention of the Parties that the remainder of the Agreement shall not be affected. 

  

	22.	 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts, excluding choice of law principles. The Parties agree that any action or proceeding arising out of or related in any way to this Agreement shall be brought solely in a Federal or State court of competent jurisdiction
sitting in the Commonwealth of Massachusetts. 

  

	23.	 Amendments and Waivers. This Agreement may be amended or supplemented only by a written instrument duly
executed by each of the Parties. No provision of this Agreement may be waived except by a written instrument signed by the Party hereto sought to be bound. No failure or delay by any Party in exercising any right or remedy hereunder or under
applicable law will operate as a waiver thereof, and a waiver of a particular right or remedy on one occasion will not be deemed a waiver of any other light or remedy, or a waiver on any subsequent occasion. 

  
 6 

	24.	 Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original,
but all of which together will constitute one agreement. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other
transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. 

If you are in agreement with the foregoing, please sign where indicated below, whereupon this Agreement shall become effective as of the Effective Date. 

 

									
	DANFORTH ADVISORS. LLC	  	            	  	AADI B1OSCIENCE, INC.
					
	By:	  	 /s/ Chris Connors
	  		  	By:	  	 /s/ Neil Desai

	Print Name: Chris Connors	  		  	Print Name: Neil Desai
	Title: Chief Executive Officer	  		  	Title: Chief Executive Officer
	Date: 7/20/2021	  		  	Date: 7/21/2021

  
 7 

 EXHIBIT A 

Schedule of Fees 
 Initial Staffing:

  

					
	 Role
	  	 Hourly Rate
	  	 Function

	Sr. Advisor	  	 [***]
	  	Senior Advisory
			
	CFO	  	$400/hour	  	CFO
			
	Sr. Director	  	 [***]
	  	PAO
			
	HR Consultant	  	 [***]
	  	Human Resources
			
	Director	  	 [***]
	  	VP Finance
			
	Sr Manager	  	 [***]
	  	Sr Controller/FP&A
			
	Manager	  	 [***]
	  	Controller
			
	Sr. Consultant	  	 [***]
	  	Asst. Controller
			
	Consultant	  	[***]	  	Staff Accountant

 Initial Staffing will be Lance Thibault, a CFO, who will act as Interim CFO, serving as Principal Financial Officer and
Principal Accounting Officer. Mr. Thibault has been interviewed and approved by the Company. Additional personnel will be added in accordance with Section 1 of this Agreement.

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