Document:

Exhibit

February 22, 2008

Seth Tasker
39 Dartmouth Street
Arlington, MA 02474 

Dear Seth,

On behalf of Infinity Pharmaceuticals, Inc. (the “Company”), I am pleased to offer you the position of Corporate Counsel, initially reporting to Gerald Quirk.

		
	1.
	Effective Date: The effective date of your full-time employment with the Company shall be Monday, March 17, 2008. 

		
	2.
	Salary: Your base salary will be $5,076.93 per biweekly pay period (equivalent to $132,000 on an annualized basis). In addition, in accordance with the Company’s regular compensation practices, you will receive, approximately annually, a salary review, and the Company may adjust your salary based on your performance, the Company’s performance, and/or such other factors as may be determined at the sole discretion of the Company’s Board of Directors or its designee.

		
	3.
	Sign-on Bonus: The Company will pay you a bonus of $7,000.00 on the date of the first paycheck following commencement of your full-time employment. Should you terminate for any reason within 12 months of your starting date after having received your bonus, the Company reserves the right to seek repayment of all or a pro-rata portion of your bonus.

		
	4.
	Contingent Compensation: In addition to your salary and benefits, you may be eligible to participate in the Infinity Contingent Compensation program. This program may result in a cash bonus, depending on your and the Company’s achievements of goals and objectives, as well as overall business conditions. The Contingent Compensation program is administered by the Company's Board of Directors in their sole discretion. In order to be eligible for any type of payment under the program, you must be actively employed by the Company at the time the payment is made. 

		
	5.
	Benefits: You may participate in any and all of the benefit programs that the Company establishes and makes available to its employees from time to time, provided you are eligible under (and subject to all provisions of) the plan documents governing these programs.

		
	6.
	Vacation: Upon your date of hire, you will start to accrue vacation time at a rate of 15 days per year, which may be taken in accordance with Company policy; 12 paid holidays annually will be observed.

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February 22, 2008                                                                                            
Seth Tasker

		
	7.
	Equity Participation, Vesting of Stock: Subject to approval by the Company’s Board of Directors, you will be granted a stock option exercisable for 6,000 shares of the Company’s Common Stock. A complete description of the terms and conditions of the stock option award will be contained in the Infinity Pharmaceuticals 2000 Stock Incentive Plan and the form of stock option agreement to be entered into by you and the Company. The option will vest as to one fourth (1/4) of the shares on the first anniversary of your commencement of full-time employment with the Company and as to one forty-eighth (1/48) of the shares monthly thereafter until all shares are vested, provided that you remain employed by the Company. In addition, in accordance with the Company’s compensation practices, you will receive, approximately annually, a merit stock review which shall be based on your performance, the Company’s performance, and other such factors as may be determined by the Company’s Board of Directors.

		
	8.
	Employment At-Will: Your employment with the Company will be at-will, meaning that you will not be obligated to remain employed by the Company for any specified period of time and the Company will not be obligated to continue your employment for any specific period. Both you and the Company may terminate the employment relationship, with or without cause, at any time, with or without notice. Similarly, nothing in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Company (except as described herein).

		
	9.
	Proprietary Information, No Conflicts: As a condition of employment, you agree to execute the Company’s standard form of Invention, Non-Disclosure, and Non-Competition Agreement and to be bound by all of the provisions thereof. You hereby represent that you are not presently bound by any employment agreement, confidential or proprietary information agreement, or similar agreement with any current or previous employer that would impose any restriction on your acceptance of this offer or that would interfere with your ability to fulfill the responsibilities of your position with the Company.

		
	10.
	Employment Eligibility Verification: Please note that all persons employed in the United States are required to complete an Employment Eligibility Verification Form on the first day of employment and to submit an original document or documents that establish identity and employment eligibility within three business days of employment. 

		
	11.
	Successors and Assigns: This letter of offer will be binding upon and inure to the benefit of the Company’s successors and assignees. In the event of a merger or consolidation (whether or not the Company is the surviving or the resulting corporation), the surviving or resulting corporation will be bound by the obligations set forth in this letter offer.

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February 22, 2008                                                                                            
Seth Tasker

Seth, all of us here at Infinity are very enthusiastic about your commitment to joining the Company and have the highest expectation of your future contributions.

Please indicate your understanding and acceptance of the foregoing terms of your employment by signing the enclosed copy of this letter and returning it to Melanie Getchell no later than February 27, 2008. After that date, the offer will expire.

Very truly yours,

/s/Adelene Q. Perkins

Adelene Q. Perkins
Executive Vice President and Chief Business Officer

The foregoing correctly sets forth the terms of my at-will employment by Infinity Pharmaceuticals, Inc.

 
      /s/Seth A. Tasker                                                     2/27/2008        
Seth Tasker                                  DateExhibit

July 1, 2016

Seth Tasker
31 North Crescent Circuit
Brighton, MA 02135

Re:    Employment Retention Incentive Package

Dear Seth:

Following the strategic restructuring of Infinity Pharmaceuticals, Inc. (the “Company”) announced on June 14 and June 28, 2016, the Company has implemented a cash and stock retention program as an incentive to retain Citizen Owners asked to stay with the company beyond September 5 such that the Company can diligently execute on strategic goals.  In exchange for your continued employment with the Company, the Company agrees to the following retention arrangement:  

1.In addition to your current base pay and all benefits for which you are currently eligible, including the applicable Severance Benefits Plan, which will be payable and provided in accordance with applicable Company policies and payroll cycles, the Company agrees to provide you with the following additional compensation as an employment retention incentive:
(a)    Cash Retention Incentive.  The Company agrees to provide you with a cash retention incentive equal to 50% of your annual base salary (the “Retention Bonus”) in two lump sum cash payments on the dates listed below if you are employed by the Company on such dates:  
December 30, 2016    50% of your Retention Bonus
July 1, 2017        50% of your Retention Bonus        
Payments will be adjusted to reflect any salary increase in effect following the date of this letter.
(b)    Stock Retention Incentive. Subject to approval of the Board of Directors (the “Board”) of the Company, the Company will grant you a restricted stock award (the “RSA”) in amount listed below based on level, which RSA will vest according to performance conditions to be established by the Board on or about July 22, 2016:
Associate Director or below            5,000 shares

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Director or Senior Director            15,000 shares
Vice President or Senior Vice President    40,000 shares
A complete description of the terms and conditions of the RSA, including but not limited to the effect of the involuntary termination of your employment or a change in control of the Company, will be set forth in the Infinity Pharmaceuticals 2010 Stock Incentive Plan and a restricted stock award agreement to be entered into between you and the Company.
2.Effect of Early Involuntary Termination.  If your employment is terminated by the Company for any reason other than for “Cause,” as defined below you will receive the portion of the Retention Bonus calculated on a pro-rated basis from the date of this letter to the effective date of your termination within 10 business days of such effective date of termination. 
3.Effect of Resignation, Voluntary Termination, or Termination for Cause.  If you resign or otherwise voluntarily terminate your employment, or you are terminated for Cause (as defined below), (i) you will no longer be eligible for, and will not be paid, any unpaid portion of your Retention Bonus, and (ii) vesting of any unvested portion of the RSA will immediately cease.  “Cause” shall mean (i) a good faith finding by the Company of failure by the employee to perform the employee’s material duties for the Company in a manner acceptable to the Company, which failure continues for a period of more than 30 days after notice thereof has been provided to the employee in writing by the Company, setting forth in reasonable detail the nature of such failure; (ii) a willful act of misconduct with the intent to harm the Company or its affiliates; (iii) a good faith finding by the Company that the employee committed a violation of the Company’s code of conduct resulting in material harm to the Company or one of its employees; (iv) the employee’s conviction of, or the entry of a plea of guilty or nolo contendere by the employee, to a crime (other than minor traffic violations); or (v) misappropriation of the Company’s confidential or trade secret information or a violation of any Invention, Non-Disclosure, and Non-Competition Agreement the employee entered into with the Company.
4.Effects on Other Agreements, Plans and Programs.  This letter does not supersede or replace any employment agreements, offer letters, bonus plans, and any other compensation and/or incentive agreements that you have entered into, or for which are you eligible, with the Company, except that the Retention Bonus supersedes and replaces the Company’s 2016 contingent cash compensation program. 
5.Representations and Governing Law:
(a)This letter may not be changed, amended, modified, altered or rescinded except upon the express written consent of both you and the Company.
(b)This letter shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without giving effect to the principles of conflicts of laws of such state.  

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If the terms and conditions of this letter are acceptable to you, please sign and date this letter in the spaces provided and return it to the Company.
ACCEPTED AND AGREED:        

INFINITY PHARMACEUTICALS, INC.

/a/Adelene Q. Perkins

Adelene Q. Perkins

Title:    President & Chief Executive Officer
Date:     July 1, 2016

EMPLOYEE: Seth Tasker
                            
Signature: /s/Seth Tasker                         
Date: July 13, 2016                                   

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