Document:

Exhibit 10.14

 

 

 

		March 17, 2020
	 

Dear
Andrew:

 

Menlo
Therapeutics Inc., a New Jersey-based company (the “Company”), is pleased to propose the following offer
of employment for the position of Chief Financial Officer (“CFO”) of the Company.

 

Your employment will commence
on March 23, 2020 subject to your acceptance of this offer letter. This offer is contingent upon successful completion of a background
check and drug screen. You will report to the Chief Executive Officer of the Company, David Domzalski (“CEO”).

 

Specific
responsibilities will include, inter alia,

 

Brief Description:

 

As the CFO, you will work closely with
the CEO and leadership team to craft the long-term financing and corporate development strategy and play an important role in guiding
the Company and its subsidiaries in its next growth phase. The CFO will be a partner to the CEO in communicating the Company’s
strategy to the Company’s board of directors (the “Board”), investors and other stakeholders. The CFO
will execute the financial strategy by assessing and leading the execution of all capital raising for the Company and will provide
financial and business expertise in assessing and crafting the financial structures of licensing and strategic partnerships/collaborations.

 

The CFO will be the most senior executive
responsible for overseeing and directing the financial, investor relations, supply chain and IT functions of the Company. The CFO
will be relied upon as a financial thought leader in the Company’s business and as such, be a trusted sounding board to the
CEO and leadership team. You will play a critical role in the Company’s strategic positioning and will lead the finance,
investor relations, supply chain and IT organizations to ensure they can meet the future needs and direction of the Company.

 

The CFO will approach the role as a strategic
one as well as hands-on to ensure the organizations they oversee constantly seek improvement, with a balance of superior technical,
operational and leadership skills. As the CFO you must be a strong communicator, collaborator and able to fit in with an entrepreneurial
environment that is dynamic and results oriented.

 

Major Responsibilities: 

 

Strategic and Tactical Business Growth
and Development – work with CEO and leadership team to develop and execute strategic plans aimed at improving long-term stockholder
value, including the evaluation of strategic and corporate alliances.

 

Financing and Fund Raising – assess,
prepare and implement programs to ensure the Company is appropriately financed including public offerings, debt and non-dilutive
partnerships and alliances.

 

Financial, Tax, and Risk Management –
ensure the Company’s financial reporting is in accordance with GAAP and other US regulatory and advisory organizations. Lead
the Company’s annual budget and forecasting process and present and recommend the budget and forecasts to the Board for approval;
prudently manage Company resources within the budgeted guidelines.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

Leadership – proactively advise the
CEO and the Board of key financial issues: and identify and promote changes that will keep the finance and other organizations
aligned with the Company’s mission, goals and objectives.

 

Board of Directors – prepare well
thought-through and supported analyses and recommendations to the Board on Company financial matters; work with Board committees
as needed.

 

General Management – build and oversee
the operations of the Finance and Accounting, IT, Supply Chain and Investor Relations organizations.

 

Policies and Procedures – develop
and implement major policies and procedures to ensure the Company is prepared for commercialization and the associated growth in
size and complexity of the organization.

 

Investor and Public Relations – regularly
interface with investors and bankers to ensure the Company’s milestones and financial outlook are properly communicated;
develop communication plan and corporate messaging for all quarterly calls, capital financings and non-deal road shows; establish
and maintain strong relationships with financial institutions that align with the Company’s strategic financing objectives.

 

Communication Skills – ensure CEO,
the leadership team, the Board and their staff have sufficient and up-to-date information in order to make effective decisions
and perform their duties appropriately.

 

Corporate
Culture – foster a goal oriented corporate culture that recognizes employees as critical to the success of the business.

 

 

Compensation

 

You will be paid a base salary
at an annual rate of $400,000, payable in accordance with the Company’s payroll policies, less applicable deductions and
employment taxes. Currently, the Company’s regular pay period is bi-monthly (the 15th and 30th of each
month).

 

You
will be eligible to receive a cash bonus of up to 50% of your base salary based on achievement of milestones and targets set by
the CEO, under the framework of the applicable bonus plan for 2020 of the Company.

 

The payment and grant of the
cash bonus, if awarded, shall be made no later than March 15th of the calendar year in which the cash bonus is earned,
upon evaluation of your performance and the achievement of milestones and targets set for the preceding year, and in accordance
with the then-current general bonus plan. Bonus payments for the year 2020 (January-December) shall be made to you on a pro-rata
basis based on your actual start date.

 

As
soon as reasonably practicable following your start date, and subject to approval by the Board of the Company, you will receive
100,000 incentive stock options to acquire common stock in the Company (“Options”) with a per share exercise
price for the options equal to the fair market value of one share of Company common stock on the grant date. Additionally, you
will receive 50,000 restricted share units of the Company (“RSUs” and, together with the Options, the “Initial
Equity Grants”) with a grant date fair market value based on the closing price of Company common stock on the grant date.
The Initial Equity Grants will vest over a period of four years following the last day of the calendar quarter in which the grant
was made as follows: 25% on the first anniversary of the vesting commencement date and 6.25% on the last day of each subsequent
calendar quarter, subject to your continued employment with the Company or one of its subsidiaries through the applicable
vesting date. Please note that such vesting period does not amount to an undertaking of the Company to employ you for any given
period. The Initial Equity Grants shall be subject to the execution of a share award agreement with the Company and the terms and
conditions of the Company’s 2019 Equity Incentive Plan, as may be amended or amended and restated from time to time (the
 “Equity Plan”).

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

Consistent with its policies
as established from time to time, the Company will also cover all expenses directly related to your job performance, in accordance
with the Company’s policies as in effect from time to time.

 

You will be entitled to 4 weeks
of paid vacation. These vacation days accrue ratably over the calendar year and may not be carried forward from year to year or
paid out at the termination of employment, except as described below or if your state laws mandate this payout. You will be entitled
to participate in the Company’s healthcare plan, then in effect, or, at the Company’s election, the Company may direct
you to purchase an individual plan providing equivalent coverage and will reimburse you for all premium payments under such individual
plan, upon proof of payment. All matters of eligibility under the Company’s plans will be determined solely by the carriers
providing such insurance. You will also be eligible to participate in the Company’s 401(k) plan. Eligibility for plan participation
begins on the 1st of the month following your commencement date.

 

The Company will also recognize
certain holidays. These dates are communicated each year by the Company and may change based upon business needs. You will receive
the holiday schedule when you join the Company.

 

Your
employment with the Company is at will and may be terminated by either you or the Company at any time, with or without reason or
prior notice. In the event of a termination for Cause by the Company or any of its subsidiaries or affiliates, your employment
will end immediately and the Company and its subsidiaries and affiliates will have no further liability towards you except for
payment of (1) any earned but unpaid base salary, (2) any incurred but unreimbursed business expenses and (3) any accrued but unused
vacation days that exist as of the date of your termination of employment (together, the “Accrued Benefits”).

 

You shall have the right to resign at any
time by giving the Company thirty (30) days’ notice of the termination date, subject to the Company’s right, at its
election, to reduce the duration of the notice period upon notice to you, in which case the last day of the reduced notice period
shall constitute your employment termination date. The Company shall not have any further liability to you except for payment of
all Accrued Benefits due through the date of termination.

 

In the event of your death or the termination
of your employment as a result of your disability (as determined by the Company in good faith), the Company will have no further
liability to you except for payment of the Accrued Benefits through the date of your death or the first day of your disability.

 

Termination Without Cause; Resignation
for Good Reason

 

The Company may terminate your employment
without Cause upon thirty (30) days’ notice, during which notice period you will receive your full compensation and benefits.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

If
your employment is terminated without Cause or you resign for Good Reason, subject to your execution and nonrevocation of a release
of claims in a form acceptable to the Company in its sole discretion within 30 days following your termination of employment, you
will be entitled to receive, in addition to the Accrued Benefits, (i) a severance payment equal to nine (9) months’ salary
(the “Severance Payment”) and (ii) if you qualify for and timely elect continuation coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), continued payment by the Company of monthly
contributions in respect of your coverage under the Company’s healthcare plan for nine (9) months following the date of termination,
in each case, in an amount equal to the contribution the Company would have made if you had continued to be an active employee
(assuming the applicable rates in effect as of the date of your termination of employment); provided that, the Company’s
obligations under this clause (ii) shall terminate on the earlier of (x) the date on which you enroll in a group health plan offered
by another employer and (y) the date on which you are no longer eligible for continuation coverage under COBRA; provided further
that, notwithstanding the foregoing, in the event such Company contributions, may, in the Company’s reasonable view, result
in tax or other penalties on the Company, this provision shall terminate and the parties shall, in good faith, negotiate for a
substitute provision that provides substantially a similar benefit to you but does not result in such tax or other penalties.

 

For the purpose of this offer
letter, “Cause” means (i) your commission of an act of fraud or dishonesty in the course of your employment
hereunder; (ii) your indictment, conviction or entering of a plea of nolo contendere for a crime constituting a felony; (iii) your
negligence or misconduct in connection with your employment hereunder; (iv) your failure to substantially perform your duties hereunder;
(v) your breach of any of the restrictive covenants set forth in Appendix A; (vi) your failure to follow the instructions of management
after notice of such failure, or (vii) a material breach of this offer letter by you.

 

For the purpose of this offer
letter, “Good Reason” means: (i) a material reduction in your base salary; (ii) a material reduction in your
target annual bonus opportunity; (iii) a relocation of your principal place of employment by more than twenty-five (25) miles;
or (iv) an adverse change in your position, including title, reporting relationship(s), authority, duties or responsibilities;
all of the above without your consent. You must provide notice of the existence of the Good Reason condition within thirty (30)
days of the date you learn of the condition, and the Company shall have a period of thirty (30) days during which it may remedy
the condition, and in case of full remedy such condition shall not be deemed to constitute Good Reason hereunder.

 

Termination in Connection with a Change
in Control 

 

Notwithstanding
the above, if you experience a Qualifying Termination within the twelve (12) month period after a Change in Control (a “Qualifying
Change in Control Termination”), subject to your execution and nonrevocation of a release of claims in a form
acceptable to the Company in its sole discretion within 55 days following your termination of employment, you will be entitled
to receive, in addition to the Accrued Benefits, (i) a severance payment equal to the sum of twelve (12) months’ salary and
your target annual bonus for the year of termination (the “CIC Severance Payment” and, together with the Severance
Payment, the “Severance Payments”), (ii) a cash payment equal to your target annual bonus for the year of termination
multiplied by a fraction, the numerator of which is the number of days you were employed with the Company during the calendar year
in which the date of termination occurs, and the denominator of which is 365 (the “Pro-rated Bonus”) and (iii)
if you qualify for and timely elect continuation coverage under COBRA, continued payment by the Company of monthly contributions
in respect of your coverage under the Company’s healthcare plan for twelve (12) months following the date of termination,
in each case, in an amount equal to the contribution the Company would have made if you had continued to be an active employee
(assuming the applicable rates in effect as of the date of your termination of employment); provided that, the Company’s
obligations under this clause (iii) shall terminate on the earlier of (x) the date on which you enroll in a group health plan offered
by another employer and (y) the date on which you are no longer eligible for continuation coverage under COBRA; provided further
that, notwithstanding the foregoing, in the event such Company contributions, may, in the Company’s reasonable view, result
in tax or other penalties on the Company, this provision shall terminate and the parties shall, in good faith, negotiate for a
substitute provision that provides substantially a similar benefit to you but does not result in such tax or other penalties.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

Furthermore, notwithstanding the terms
of the Company equity incentive plan under which your equity awards are granted or any applicable award agreements, in the event
of a Qualifying Change in Control Termination, all of your outstanding, unvested Company employee stock options and unvested restricted
stock units, if any, shall become fully vested and any restrictions thereon shall lapse.

 

For purposes of this offer letter, “Change
in Control” shall have the meaning set forth in the Equity Plan. For the avoidance of doubt, the term Change in Control
shall not include a sale of assets, merger or other transaction effected primarily for the purpose of changing the domicile of
the Company.

 

Timing of Payment

 

The applicable Severance Payment and the
Pro-rated Bonus will be paid in a lump sum within sixty (60) days following the date of your termination of employment.

 

The payments and benefits under this offer
letter are intended to qualify for exemptions from the application of Section 409A of the Internal Revenue Code (“Section
409A”), and this offer letter will be construed to the greatest extent possible as consistent with those provisions,
and to the extent not so exempt, this offer letter (and any definitions hereunder) will be construed in a manner that complies
with Section 409A to the extent necessary to avoid adverse taxation under Section 409A. Notwithstanding anything to the contrary
herein, to the extent required to comply with Section 409A, a termination of employment shall not be deemed to have occurred for
purposes of any provision of this offer letter providing for the payment of amounts or benefits upon or following a termination
of employment unless such termination is also a “separation from service” within the meaning of Section 409A. Your
right to receive any installment payments will be treated as a right to receive a series of separate payments and, accordingly,
each installment payment shall at all times be considered a separate and distinct payment. Notwithstanding any provision to the
contrary in this offer letter, if you are deemed by the Company at the time of your separation from service to be a “specified
employee” for purposes of Section 409A, and if any of the payments upon separation from service set forth herein and/or under
any other agreement with the Company are deemed to be “deferred compensation,” then, to the extent delayed commencement
of any portion of such payments is required in order to avoid a prohibited distribution under Section 409A and the related adverse
taxation under Section 409A, such payments shall not be provided to you prior to the earliest of (i) the expiration of the six-month
period measured from the date of separation from service, (ii) the date of your death or (iii) such earlier date as permitted under
Section 409A without the imposition of adverse taxation. With respect to payments to be made upon execution of an effective release,
if the release revocation period spans two calendar years, payments will be made in the second of the two calendar years to the
extent necessary to avoid adverse taxation under Section 409A.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

Miscellaneous

 

You represent that (i) there
is no legal restriction and/or contractual restriction prohibiting you from entering into an employment relationship with the Company,
(ii) that by doing so you are not violating any third party’s rights, including any undertaking entered into with any former
employer, and (iii) that you know that the Company is employing you based upon this statement.

 

A
dispute under this offer letter shall be heard and governed by the procedural and substantive laws of the State of New Jersey or
of your primary workplace. By signing this offer Letter you and the Company agree
to WAIVE ANY RIGHT TO A JURY TRIAL for any disputes arising out of this offer letter.

 

This offer letter constitutes
and expresses the entire agreement of the parties hereto with reference to any of the matters or things herein provided for or
herein before discussed or mentioned with reference to your employment, and it cancels and replaces any and all prior understandings
and agreements between you and the Company, except the Non-Solicitation, Non-Competition, Confidentiality and Intellectual Property
Agreement attached hereto as Appendix A. All other promises, representations, collateral agreements and understandings not expressly
incorporated in this offer letter are hereby superseded by this offer letter.

 

The Company may withhold from
any amounts payable under this offer letter all federal, state, city or other taxes as it is required to withhold pursuant to any
applicable law, regulation or ruling. Notwithstanding any other provision of this offer letter, the Company shall not be obligated
to guarantee any particular tax result for you with respect to any payment provided to you hereunder, and you shall be responsible
for any taxes imposed on you with respect to any such payment.

 

Without derogating from the
above, you will be required to abide by the Company’s policies, rules and procedures, as may be in effect from time to time,
at the Company’s sole discretion, and that may be modified or changed as circumstances warrant.

 

Prior to your commencement of
work, you will be required to sign a Non-Solicitation, Non-Competition, Confidentiality and Intellectual Property Agreement, which
is attached hereto as Appendix A. You will be bound by the terms of the document.

 

We are pleased to offer this
opportunity to you. Please sign below to indicate your acceptance of this employment offer on the basis of the foregoing terms.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

Sincerely,

 

Ray Steitz

Senior Vice President Human
Resources

 

I hereby confirm that I have carefully
read and understood this offer of employment and I have accepted it and entered into it of my own free will.

 

	/s/ Andrew Saik	 
	Andrew Saik
	Date: March 20, 2020 

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

Appendix A

Non-Solicitation, Non-Competition, Confidentiality
and Intellectual Property Agreement

 

This
Non-Solicitation, Non-Competition, Confidentiality and Intellectual Property Agreement (“Agreement”), is made and entered
into by and between Menlo Therapeutics Inc. (the “Company”) and Andrew Saik (“you” and “your”).
The Company, together with its affiliates and subsidiaries, is hereinafter referred to as the “Group Companies.” The
parties hereby agree to the following in exchange for your employment with the Company:

 

(a)                    
Non-Competition. You recognize that your knowledge of the Confidential Information (as defined below) and trade secrets
of the Group Companies and your role in the Group Companies’ business may allow you to compete or to assist a third party
to compete unfairly with the Group Companies. You will not, in any manner whatsoever, directly or indirectly, anywhere in the world,
during your employment hereunder, (i) form, carry on, engage in or be concerned with or interested in (financially or in any other
capacity); (ii) advise, lend money to, guarantee the debts or obligations of or permit your name or any part thereof to be used
in the promotion or advancement of; or (iii) be employed by or render any services (as an employee, independent contractor, consultant,
or otherwise) to, any individual or other entity engaged in, or concerned with or interested in, any business that develops or
commercializes foam or topical tetracycline antibiotics or is otherwise directly competitive with, the business of the Group Companies
(i.e., any compound that is the same or substantially similar to a compound being developed or sold by any member of the Group
Companies) (each, a “Competitive Business”), in each case without the prior written consent of the Company.

 

(b)                   
Non-Solicitation. You will not, in any manner whatsoever, directly or indirectly, without the prior written consent
of the Company, at any time during your employment and for 12 months following the termination of your employment with any member
of the Group Companies for any reason (the “Restricted Period”):

 

(i) induce or endeavor
to induce (A) any employee of any member of the Group Companies to leave employment with the applicable Group Company, or (B) any
consultant or contractor of any member of the Group Companies to terminate its relationship as such with the applicable Group Company
during any period of time that the business services provided, directly or indirectly, by such consultant or contractor are exclusively
or primarily being provided to the applicable Group Company, provided that this clause shall not preclude customary non-targeted
recruiting efforts or general solicitations that are not specifically directed to, but which may have the effect of causing an
employee, consultant or contractor to leave the employment or arrangement with any member of the Group Companies; or

 

(ii) employ or attempt
to employ or assist any individual or other entity to employ any employee of any member of the Group Companies or to retain
any consultant or contractor during any period of time that the business services provided, directly or indirectly, by such consultant
or contractor are exclusively or primarily being provided to the applicable Group Company, provided, that this clause shall not
preclude an employer of yours from offering employment or consulting or contracting services to anyone without your direct or indirect
assistance.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

(c)                   
Confidentiality. You acknowledge that by reason of your employment
with any member of the Group Companies, you will have access to Confidential Information and trade secrets of the Group Companies,
and that such Confidential Information and trade secrets are essential components of the business of the Group Companies, and
are proprietary and would be of great value and benefit to competitors of the Group Companies. “Confidential
Information” includes anything respecting the Group Companies or their respective businesses, customers, supplier
or operations, and which is not made readily available to the general public. You agree that both during and after your employment
with any member of the Group Companies, you will not disclose to any individual or other entity, except in the proper course of
your employment with any member of the Group Companies, or use for your own purposes or for purposes other than those of the Group
Companies, any Confidential Information or trade secrets of the Group Companies, acquired by you. If information enters the public
domain, except as a result of a breach of this Section (c) by you or a breach of another confidentiality agreement to which any
member of the Group Companies is a party, the information will not be deemed Confidential Information, or a trade secret protected
by this Section (c). Pursuant to 18 U.S.C. § 1833(b), you will not be held criminally or civilly liable under any Federal
or State trade secret law for the disclosure of a trade secret of the Group Companies that (i) is made (A) in confidence to a
Federal, State, or local government official, either directly or indirectly, or to your 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 that is filed under
seal in a lawsuit or other proceeding. If you file a lawsuit for retaliation by any member of the Group Companies for reporting
a suspected violation of law, you may disclose the trade secret to your attorney and use the trade secret information in the court
proceeding, if you (i) file any document containing the trade secret under seal, and (ii) do not disclose the trade secret, except
pursuant to court order. Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for
disclosures of trade secrets that are expressly allowed by such section. Further, nothing in any agreement you have with any member
of the Group Companies shall prohibit or restrict you from making any voluntary disclosure of information or documents to any
governmental agency or legislative body, or any self-regulatory organization, in each case, without advance notice to the Group
Companies.

 

(d)                   
Intellectual Property.

 

(i) You have
attached hereto as Exhibit 1, a list describing all inventions, original works of authorship, developments, improvements, copyrights
and patents that were made or developed by you prior to the date you sign this Agreement, that belong to you. If such list is not
attached or is left blank, you represent that no such inventions exist.

 

(ii) You agree that all ideas,
techniques, inventions, systems, business and marketing plans, projections and analyses, discoveries, technical information, programs,
prototypes, copyrightable works of authorship, including without limitation software code, and similar developments, improvements
or creations developed, conceived, created, discovered, made, or written by you in the course of or as the result, directly or
indirectly, of the performance of your employment with any member of the Group Companies (hereinafter called "Developments"),
and all related intellectual property rights, including but not limited to, writings and other works of authorship, United States
and foreign patents, mask works, copyright and trademark registrations and other forms of intellectual property protection, shall
be and remain the property of the Group Companies. You further agree to assign (or cause to be assigned) and do hereby assign fully
to the Group Companies all such Developments and any copyrights, patents, mask work rights or other intellectual property rights
relating thereto. In the event copyrightable works do not fall within the theory of works made for hire, you agree to assign, and
do hereby assign, all rights, title and interest therein, without further consideration, to the Group Companies. You, insofar as
you have the right to do so, agree that you will execute or cause to be executed such United States and foreign patents, mask works,
copyright and trademark registrations and other documents and agreements and take such other action as may be desirable in the
opinion of the Group Companies to enable intellectual property, copyright and other forms of protection for Developments to be
obtained, maintained, renewed, preserved and protected throughout the world by or on behalf of the Group Companies.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

(iii) If the Group Companies
are unable, after exercising reasonable efforts, to secure your signature on any application for patent, copyright, analogous registration,
or other documents regarding any legal protection regarding Developments or other works and inventions, whether because of your
physical or mental incapacity or for any other reason, you hereby irrevocably designate and appoint the Group Companies and their
duly authorized officers and agents as your agent and attorney-in-fact to act for and on your behalf and to execute and file any
such application or applications or other documents and to do all other lawfully permitted acts to further the prosecution and
issuance of such patent, copyright or trademark registrations or any other legal protection thereon with the same legal force and
effect as if executed by you.

 

(iv) Incorporation into
Company Products. You agree that if in the course of your employment with any member of the Group Companies, you incorporate into
any invention, service, or product any invention, improvement, Development, concept, discovery or other proprietary information
owned by you or in which you have an interest, (i) you will inform the Company in writing, before incorporating such invention,
improvement, development, concept, discovery or other proprietary information into any invention, Service, or Development; and
(ii) the Group Companies are hereby granted and will have a nonexclusive, royalty-free, perpetual, irrevocable, worldwide license
to make, have made, modify, use and sell such item as part of or in connection with such invention, services, or Development. You
will not incorporate any invention, improvement, development, concept, discovery or other proprietary information owned by any
third party into any invention without the prior written permission of the Company.

 

(v) Subsequent Use Restrictions.
During the course of employment and during the Restricted Period, you agree to promptly notify the Company of any inventions you
develop that are based on, relate to or are a derivative of Developments or Confidential Information. You agree that any invention
or work involving you after the separation of your employment shall be deemed to result from access to the Group Companies’
Developments or Confidential Information (including without limitation patentable inventions and copyrightable works) if such invention
or work: (i) arose from your work with the Group Companies; or (ii) is related to the business of the Group Companies and is made,
created, used, sold, exploited or reduced to practice, or an application for patent, trademark, copyright or other proprietary
protection is filed by you and/or with your significant aid by a third party, within the Restricted Period.

 

 (e)                 
Cooperation. You shall provide reasonable cooperation in connection with any legal action or proceeding (or any appeal from any action or proceeding) which relates to events during your employment hereunder. The Company shall reimburse you for your reasonable travel expenses incurred in connection with the foregoing, in accordance with the Company’s policies and subject to the delivery of reasonable support for such expenses.

 

(f)                   
Restrictions Reasonable. You confirm that all restrictions and covenants in this Agreement are reasonable and valid,
and waive all objections to and defenses to the strict enforcement thereof.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

(g)                   
Survival of Restrictions. This Agreement shall survive the termination of the Offer Letter between you and the Company
and the termination of your employment with any member of the Group Companies, whether such termination is voluntary or involuntary,
and regardless of the reason(s) for such termination.

 

(h)                   
Remedies. In the event of breach or threatened breach by you of any provision of this Agreement, the Group Companies
shall be entitled to (i) injunctive relief by temporary restraining order, preliminary injunction, and/or permanent injunction,
(ii) recovery of the attorneys’ fees and costs incurred by the Group Companies in obtaining such relief, and (iii) any other
legal and equitable relief to which it may be entitled, including any and all monetary damages which the Group Companies may incur
as a result of said breach or threatened breach. Injunctive relief shall not be the exclusive relief and may be in addition to
any other relief to which the Group Companies would otherwise be entitled. The existence of any cause of action by you against
any member of the Group Companies shall not constitute a defense to enforcement of the restrictions on you created by this Agreement.
If you fail to comply with this Agreement during the Restricted Period, the time period for that the Restricted Period will be
extended by one day for each day that you are found to have violated this Agreement, up to a maximum extension of twelve (12) months.
In the event that a court finds the restrictions on you in this Agreement are unenforceable as written, then the parties shall
consent to the reformation of the Agreement to make it enforceable to protect the interests of the Group Companies and their Affiliates
to the maximum extent legally allowed.

 

(i)                   
Parties Benefited; Assignments. This Agreement shall inure to the benefit of the Group Companies’ owners, successors,
assigns and affiliates, and may be assigned to and enforced by any of the foregoing. Neither this Agreement nor any rights or obligations
hereunder may be assigned by you.

 

(j)                   
Notices. Any notice required or permitted by this Agreement shall be in writing sent by personal delivery, or by
registered or certified mail, return receipt requested, addressed to the Company at its then principal office, or to you at your
last known address, or to such other address or addressees as any party may from time to time specify in writing. Notices shall
be deemed given when received.

 

(k)                 
Governing Law, Jurisdiction and Venue. This Agreement and any issues arising from it or regarding its provisions
shall be governed by and construed in accordance with the substantive and procedural laws of the state of your primary workplace
without reference to such jurisdiction’s choice of law rules.

 

(l)                  
Severability. The provisions of this Agreement are severable so that in the event any provision(s) in this Agreement
is held to be illegal or unenforceable by any court or agency of competent jurisdiction, or by operation of any applicable law,
the remaining terms of this Agreement shall remain valid and in full force and effect. Further, such court or agency shall modify
the offending provision to conform to the most expansive permissible reading under the law to protect the interests of the Group
Companies.

 

(m)                
No Waiver. No waiver of any breach or default hereunder shall be considered valid unless in writing and signed by
the party giving such waiver, and no waiver shall be deemed a waiver of any subsequent breach or default of the same or similar
nature. No failure on the part of any party to exercise, and no delay in exercising, any right, remedy, power or privilege hereunder
shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807

 

     

     

    

 

 

(n)                   
Nothing in this Agreement shall alter, modify or affect your status as an at-will employee of the Company, which means that
your employment can be terminated at any time, for any reason, with or without notice, and that you can resign at any time, for
any reason, with or without notice.

 

(o)                   
Waiver of Jury Trial.

YOU AND THE GROUP COMPANIES
KNOWINGLY AND WILLINGLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY DISPUTE ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

THE PARTIES ACKNOWLEDGE THAT
THEY HAVE READ AND UNDERSTAND THIS AGREEMENT, THAT THEY HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL IF THEY SO CHOSE, AND THAT
THEY ENTER INTO THIS AGREEMENT FREELY AND VOLUNTARILY.

 

 

	/s/ Andrew Saik	 
	 
	Andrew Saik
	 
	Date: March 20, 2020

 

	 
	Menlo Therapeutics Inc.
	 
	 
	By:	/s/ Ray Steitz	 
	 
	Ray Steitz
	 
	Date: March 17, 2020

 

Menlo Therapeutics Inc.

520 U.S. Highway 22, Suite 204, Bridgewater,
New Jersey 08807Exhibit 10.15

 

Termination of Employment Agreement and
Release

 

Made and executed on this 22 day of
March 2020

 

This Termination of Employment and Release
Agreement (this "Agreement") is entered by and between Foamix Pharmaceuticals Ltd. (the "Company")
on the first part and Ilan Hadar I.D. No. 024298218 (the "Employee") on the second part;

 

		Whereas	Employee has been employed by the Company as of February 20, 2014 pursuant to the terms of the
employment agreement entered into between the Employee and the Company, dated September 13, 2017 as was amended on May 6, 2019
(herein collectively, the "Employment Agreement");

 

		Whereas	On March 22, 2020 (the "Resignation Date"), the Employee resigned from his position
as Chief Financial Officer of Menlo Therapeutics Inc., the ultimate parent of the Company ("Parent");

 

		Whereas	Following thorough discussions, the Company and the Employee have mutually agreed on the termination
of the Employee's employment with the Company as of August 31, 2021 (the "Termination Date"), on the terms and
conditions pursuant to which the employment relations and the Employment Agreement will be terminated, which terms and conditions
are set forth in this Agreement.

 

Now therefore the parties hereby
confirm as follows:

 

		1.	Effective as of the Resignation Date, the Employee no longer serves as the Chief Financial Officer
of Parent or in any other position he held as an officer, director or otherwise with respect to the Company, its subsidiaries and
its affiliates prior to the Resignation Date; provided that, the Employee shall continue to serve as the Israeli country manager
and shall provide the services described in Section 2 below until August 31, 2020 (the "Transition Date").

 

		2.	On the Resignation Date a notice period shall commence and continue until the Transition Date (the
 "Initial Notice Period"). During the Initial Notice Period the Employee shall remain an employee of the Company
for all intents and purposes and will (i) cooperate fully, as shall be required by the Company, for the smooth transfer, in an
orderly and efficient manner and with the requisite skill and good faith customarily provided by a person of his position and duties,
and as shall be decided by the Board of Directors of Parent, (ii) assist in preparing pro forma information for the Company and
its subsidiaries and filing the Company’s Form 10-Q in respect of the Company’s first and second quarter of the 2020
fiscal year, (iii) provide support in the transition of the Company’s finance team and functions from Israel to the U.S.
and (iv) perform such other services as may be requested by the Company from time to time. During the Initial Notice Period, the
Employee shall continue to receive the base pay and benefits as in effect with respect to the Employee as of the date of this Agreement
in accordance with the Company's normal payroll practices. During the Initial Notice Period, the Employee shall continue to receive
the base pay and benefits as in effect with respect to the Employee as of the date of this Agreement in accordance with the Company's
normal payroll practices.  Employee will not be entitled to any additional adjustment period. During the notice extension
period commencing on the Transition Date and ending on the Termination Date (the "Extended Notice Period"), Employee
will only be required to make himself available to answer questions related to matters that were within his authority from the
Company and shall not otherwise have any operating responsibilities or formal role with the Company and its affiliates or provide
services on behalf of the Company and its affiliates.

 

     

    -2-

    

 

		3.	During the Extended Notice Period, Employee will receive from the Company payment in the total
gross amount of USD $396,550 (paid in equal installments of USD $33,045 each month) (the "Base Pay Continuation"),
plus all benefits including social benefits, national insurance payments, health insurance and other payments as in effect with
respect to the Employee as of the date of this Agreement (and paid inappropriate monthly installments) (the "Benefits Contribution
Continuation").

 

		4.	Within 30 days following the Transition Date, the Employee shall be entitled to receive a lump
sum cash pro-rated bonus payment (based on the number of months the Employee was employed with the Company during the period commencing
on January 1, 2020 and ending on the Transition Date) in the total gross amount of USD $132,183 (the "Prorated Bonus").

 

		5.	Within 30 days following the Termination Date, the Employee shall be entitled to receive a lump
sum cash payment in the total gross amount of USD $198,275 (representing the Employee's target annual bonus for the 2020 fiscal
year, which was equal to 50% of the Employee's salary) (the "Target Bonus").

 

		6.	Within 30 days following the Termination Date, the Company shall provide the Employee with letters
of release with respect to the amounts (severance pay and pension) accrued under his managers' insurance policy and/or his pension
fund. Due to the application of an arrangement under Section 14 of the Severance Pay Law, 5723-1963 (the "Severance Pay
Law") to the period of the Employee's employment extending from July 1, 2017 through the Termination Date, the Employee
shall not be entitled to any other or additional payments with respect to severance pay in respect of such period, pursuant to
the Severance Pay Law or otherwise, other than the release of funds described in this Section 6, and the Employee shall be entitled,
pursuant to the Severance Pay Law, to completion of severance payment in respect of the period extending from February 20, 2014
through July 1, 2017.

 

		7.	On the Termination Date, the Company's obligations to Employee pursuant to the Employment Agreement
shall (subject to this Agreement) terminate.

 

		8.	Stock Options. Notwithstanding anything to the contrary contained in any equity plan of
Parent or any other plan, agreement or arrangement, it is agreed by Parent and the parties that as of the Termination Date, all
options to purchase shares of common stock of Parent ("Options") held by the Employee that are unvested as of
immediately prior to the Termination Date shall be deemed fully vested as of the Termination Date. The Employee's Options shall
remain exercisable until the earlier of (i) the date that is 90 days following the Termination Date and (ii) the expiration date
of the applicable Options. The Employee shall have no right in connection with the Options following the earlier of (i) the date
that is 90 days following the Termination Date and (ii) the expiration date of the applicable Options.

 

		9.	Restricted Share Units. Notwithstanding anything to the contrary contained in any equity
plan of Parent or any other plan, agreement or arrangement, it is agreed by Parent and the parties that as of the Termination Date,
all restricted share units in respect of shares of common stock of Parent ("RSUs") held by the Employee that are unvested
as of immediately prior to the Termination Date shall be deemed fully vested as of the Termination Date. The Employee shall have
no right in connection with the RSUs following the settlement of such RSUs in accordance with their terms.

 

		10.	Taxation. Any tax liability and other statutory deductions, in connection with all payments
and entitlements under this Agreement, including in connection with Stock Options or RSUs, shall be borne and paid solely by the
Employee. The Company shall be entitled to deduct from any payment all taxes and other statutory deductions.

 

     

    -3-

    

 

		11.	Return of Company's Property. Employee hereby confirms that upon signature of this Agreement
he has delivered to the Company all of the documents, workbooks, information and materials (in whatever medium, whether manually
or electronically recorded or otherwise), which were received or prepared by him in connection with his employment by the Company,
and he has not retained any copies thereof. Upon the Termination Date, the Employee will deliver to the Company all of the Company's
possessions, including:

 

		11.1.	Company car provided in connection with the Employment Agreement (to which all Company policies
will apply). Employee shall be permitted to retain his Company-issued cellular phone and his Company-issued personal computer/tablet
subject to Section 12 below.

 

		12.	Prior to the Transition Date, in cooperation with the Senior Vice President of Human Resources
representing the Company, the Employee shall be required to remove from his cellular phone and PC/Tablet, all Company documents,
workbooks, information and other materials containing Company confidential information or work product of any nature.

 

		13.	Release. Subject to the fulfillment of all of the Employee's obligations set forth herein,
Parent and the Company agree to grant the Employee the following ex-gratia benefits, although not required to do so under
the terms of his Employment Agreement and\or applicable law (the "Ex-Gratia Benefits"):

 

		13.1.	Payment of the Base Pay Continuation during the Extended Notice Period in the total gross amount
of USD $396,550 (paid in equal installments of USD $33,045 each month), as detailed in Section 3;

 

		13.2.	Payment of the Benefits Contribution Continuation during the Extended Notice Period, as detailed
in Section 3;

 

		13.3.	Payment of the Prorated Bonus in the total gross amount of USD $132,183 within 30 days following
the Transition Date, as detailed in Section 4;

 

		13.4.	Payment of the Target Bonus in the total gross amount of USD $198,275, as described in Section
5; and

 

		13.5.	Accelerated vesting of the Employee's outstanding and unvested Options and RSUs upon the Termination
Date, as detailed in Sections 8 and 9, respectively.

 

It is hereby
clarified that the Ex-Gratia Benefits are in addition to the payments the Employee is entitled to under the Employment Agreement
and as specified in Section 6 above. In case the Employee will breach any of her undertakings under this Agreement, he will return
the Company the Ex-Gratia Benefits, including legal interest.

 

		14.	All amounts paid under this Agreement will be paid in NIS using the same NIS/$ exchange rate that
was applicable to the Employee during the Employee’s employment with the Company ($1.0=4.0 NIS).

 

     

    -4-

    

 

		15.	Employee represents that subject to the timely payment of the sums specified in Section 13 above,
he accepts all payments described herein as full, complete and unconditional payment, settlement, accord and satisfaction of any
and all obligations of the Company and its affiliates, until the Termination Date, arising out of Employee's employment or the
termination of his employment, or that otherwise might be owed to Employee by the Company and its affiliates. Employee hereby releases
and absolutely and forever discharges the Company, as well as its officers, directors, shareholders, insurers, agents, representatives,
employees, former employees, attorneys, affiliated entities, successors and assigns (each a "Release"), and any
and all of them, from any and all claims, liabilities, debts, obligations, rights, damages, actions and causes of action, known
or unknown, of any kind or nature whatsoever, including in connection with wages, back wages, salaries of any kind, severance pay,
social or pension payments of any kind whatsoever, any advanced notice or pay in lieu thereof, overtime pay, pay for work on the
weekly day of rest or during holidays, deferred compensation payments, any and all reimbursements or refunds for expenses of any
kind (including, without limitation, for traveling), recreation pay, vacation pay or redemption of such, sick pay or pay for sick
days not utilized, commissions, incentives, bonus payments of any kind and nature (including performance bonus), stock options
and/or shares, attorney's fees, compensatory damages, exemplary damages, contractual obligations and any and all payments, compensation,
benefits and reimbursements of any kind, which Employee has or may have, now or hereafter, either individually or through or with
any third party or parties, against the Company or any of the above related parties, in any way relating to or arising out of Employee's
employment with the Company or separation therefrom, which arise or relate to events arising before or after the execution of this
Agreement. Employee acknowledges that this Agreement constitutes, inter alia, compromise and notice of waiver and acceptance
regarding severance pay, in accordance with Section 29 of the Law of Severance Payments, 1963.

 

		16.	Survival of Provisions. Except as expressly modified herein, the termination of the Employment
Agreement shall not affect any of the provisions of the Employment Agreement which are expressly or by implication to come into
or to continue in force after such termination. Moreover, Employee acknowledges and confirms that the terms and provisions in the
Employment Agreement referring to Confidentiality, Non-Competition, Non-Solicitation and assignment of inventions, which are deemed
to be incorporated herein by reference, shall survive the termination of the Employment Agreement and shall remain in full force
and effect with no limitation of time. Furthermore, Employee shall be subject to the Insider Trading Policy of the Company (and
its successor Menlo Therapeutics Inc.) until the 91st day after the Termination Date (or earlier termination of this
Agreement).

 

		17.	Press Release/Confidentiality. Neither the Company nor Employee shall issue any press release
or otherwise make any communication to any third party, including any employee of the Company or any of its affiliates, in respect
of this Agreement, unless the text of said press release or communication and its attendant dissemination have been previously
mutually agreed upon in writing by the Company and the Employee.

 

		18.	General Provisions.

 

		18.1.	This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements,
proposals, understandings and arrangements, if any, whether oral or written, between the parties with respect to the subject matter
hereof.

 

		18.2.	This Agreement may be amended, supplemented or modified only by a written instrument duly executed
by or on behalf of each of the parties.

 

		18.3.	This Agreement shall be governed by and construed in accordance with the laws of the State of Israel,
without giving effect to its laws pertaining to conflict of laws. Any and all disputes in connection with this Agreement shall
be submitted to the exclusive jurisdiction of the competent courts or tribunals, as relevant, located in the city of Tel-Aviv-Jaffa,
Israel.

 

		18.4.	If any term or provision of this Agreement is declared invalid, illegal or incapable of being enforced
by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force
and effect.

 

     

    -5-

    

 

		18.5.	Employee acknowledges and declares that he has carefully read and understood all the provisions
of this Agreement, he accepts all such provisions and he signs this Agreement at his own free will and full consent and after he
was provided with sufficient time to consult with independent legal counsel.

 

		18.6.	Any notice or other communications in connection with this Agreement must be in writing to the
address set forth in the preamble to this Agreement (or to such other address as shall be specified by like notice), sent via registered
mail, messenger or email. Such notice shall be deemed given after four (4) business days, if sent via registered mail; after one
(1) day if sent by messenger, provided a proof of delivery has been received; after one (1) day if sent by email, provided however,
that a computerized automatic "received" approval (delivery receipt) was sent by the email server.

 

     

    -6-

    

 

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

 

 

	/s/ Ilan Hadar 	 
	 	 
	Name: Ilan Hadar	 

 

	 
	 
	Foamix Pharmaceuticals Ltd.
	 
	 
	By:	  
    /s/ David Domzalski                	 
	 
	Name:	David Domzalski 	 
	 
	Title:	CEO	 
	 
	 
	 
	Foamix Pharmaceuticals Ltd.
	 
	 
	By:	/s/ Mutya
    Harsch	 
	 
	Name:	Mutya Harsch   	 
	 
	Title:	General
    Counsel and CLO

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