Document:

Subscription
Agreement

 

This
Subscription Agreement (this “Agreement”) is made and entered into as of May 18, 2018 by and between
RITO GROUP CORP., a Nevada corporation (the “Company”) and the undersigned (the “Purchaser”).
The Purchaser, together with the Company shall be referred to as the “Parties”.

 

WHEREAS,
the Company desires to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company [number of shares]
of common stock, par value $0.0001 per share of the Company (“Common Stock”) pursuant to an exemption from registration
under Section 4(a)(2), Regulation D, and/or Regulation S under the Securities Act of 1933, as amended (the “1933 Act”)
or other applicable exemptions on the terms and conditions set forth in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

	 	1.	Securities
    Sale and Purchase. The Company shall issue and sell to the Purchaser and the Purchaser agrees to purchase from the Company
    [number of shares] of Common Stock of the Company (the “Shares” or the “Securities”)
    at a price of $1.50 per share for a total amount of US$ [total subscription amount] (the “Purchase Price”)
    pursuant to an exemption from registration provided by Section 4(a)(2), Regulation D, and/or Regulation S promulgated under
    the 1933 Act or other applicable exemption. 
	 	 	 
	 	2.	Closing.
    At the closing, the Company will deliver to the Purchaser the Shares and the Purchase Price shall be paid by the Purchaser
    via wire transfer of immediately available funds to an account designated by the Company. The closing shall be held on such
    date as the parties may agree upon (the “Closing” and the “Closing Date”) at the offices of Rito Group
    Corp., Room 6C, 4/F, Block C, Hong Kong Industrial Centre, 489 Castle Peak Road, Lai Chi Kok, Hong Kong at 10:00 a.m., or
    at such other location or by such other means upon which the parties may agree; provided, that all of the conditions set forth
    in Section 2 hereof and applicable to the Closing shall have been fulfilled or waived in accordance herewith. 
	 	 	 
	 	3.	Representations,
    Warranties and Covenants of the Company. The Company represents and warrants to the Purchaser, as of the date hereof,
    as follows:

 

	 	(a)	Organization
    and Standing. The Company is a duly organized corporation, validly existing and in good standing under the laws of the
    State of Nevada, has full power to carry on its business as and where such business is now being conducted and to own, lease
    and operate the properties and assets now owned or operated by it and is duly qualified to do business and is in good standing
    in each jurisdiction where the conduct of its business or the ownership of its properties requires such qualification.

 

    	 

     

    

 

	 	(b)	Authorization
    and Power. The execution, delivery and performance of this Agreement and the consummation of the transaction contemplated
    hereby have been duly authorized by the Board of Directors of the Company. The Agreement has been (or upon delivery will be)
    duly executed by the Company is or, when delivered in accordance with the terms hereof, will constitute, assuming due authorization,
    execution and delivery by each of the parties thereto, the valid and binding obligation of the Company enforceable against
    the Company in accordance with its terms.
	 	 	 
	 	(c)	No
    Conflict. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
    hereby do not (i) violate or conflict with the Company’s Certificate of Incorporation, By-laws or other organizational
    documents, (ii) conflict with or result (with the lapse of time or giving of notice or both) in a material breach or default
    under any material agreement or instrument to which the Company is a party or by which the Company is otherwise bound, or
    (iii) violate any order, judgment, law, statute, rule or regulation applicable to the Company, except where such violation,
    conflict or breach would not have a Material Adverse Effect on the Company. This Agreement when executed by the Company will
    be a legal, valid and binding obligation of the Company enforceable in accordance with its terms (except as may be limited
    by bankruptcy, insolvency, reorganization, moratorium and similar laws and equitable principles relating to or limiting creditors’
    rights generally).
	 	 	 
	 	(d)	Authorization.
    Issuance of the Shares to Purchasers has been duly authorized by all necessary corporate actions of the Company.
	 	 	 
	 	(e)	Issuances.
    The Shares to be issued hereunder will be validly issued, fully paid and nonassessable.
	 	 	 
	 	(f)	Litigation
    and Other Proceedings. There are no actions, suits, proceedings or investigations pending or, to the knowledge of the
    Company, threatened against the Company at law or in equity before or by any court or Federal, state, municipal or their governmental
    department, commission, board, bureau, agency or instrumentality, domestic or foreign which could materially adversely affect
    the Company. The Company is not subject to any continuing order, writ, injunction or decree of any court or agency against
    it which would have a material adverse effect on the Company.
	 	 	 
	 	(g)	Use
    of Proceeds. The proceeds of this Offering and sale of the Shares, net of payment of placement expenses, will be used
    by the Company for working capital and other general corporate purposes. 
	 	 	 
	 	(h)	Consents/Approvals.
    No consents, filings (other than Federal and state securities filings relating to the issuance of the Shares pursuant to applicable
    exemptions from registration, which the Company hereby undertakes to make in a timely fashion), authorizations or other actions
    of any governmental authority are required to be obtained or made by the Company for the Company’s execution, delivery
    and performance of this Agreement which have not already been obtained or made or will be made in a timely manner following
    the Closing. 

 

    	 

     

    

 

	 	(i)	No
    Commissions. The Company has not incurred any obligation for any finder’s, broker’s or agent’s fees
    or commissions in connection with the transaction contemplated hereby. 
	 	 	 
	 	(j)	Disclosure.
    No representation or warranty by the Company in this Agreement, the Agreement, nor in any certificate, Schedule or Exhibit
    delivered or to be delivered pursuant to this Agreement: contains or will contain any untrue statement of material fact or
    omits or will omit to state a material fact necessary to make the statements contained herein or therein not misleading. To
    the knowledge of the Company and its subsidiaries at the time of the execution of this Agreement, there is no information
    concerning the Company and its subsidiaries or their respective businesses which has not heretofore been disclosed to the
    Purchasers that would have a Material Adverse Effect.
	 	 	 
	 	(k)	Compliance
    with Laws. The business of the Company and its subsidiaries has been and is presently being conducted so as to comply
    with all applicable material federal, state and local governmental laws, rules, regulations and ordinances.

 

	 	4.	Purchaser
    Representations, Warranties and Agreements. The Purchaser hereby acknowledges, represents and warrants as follows:

 

	 	(a)	Organization;
    Authority. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction
    of its organization with the requisite corporate or partnership power and authority to enter into and to consummate the transactions
    contemplated by the applicable Documents and otherwise to carry out its obligations thereunder. The execution, delivery and
    performance by such Purchaser of the transactions contemplated by this Agreement has been duly authorized by all necessary
    corporate or, if such Purchaser is not a corporation, such partnership, limited liability company or other applicable like
    action, on the part of such Purchaser. Each of this Agreement and other Documents has been duly executed by such Purchaser,
    and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation
    of such Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable
    bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement
    of, creditors’ rights and remedies or by other equitable principles of general application.

 

    	 

     

    

 

	 	(b)	Investment
    Intent. Such Purchaser is acquiring the Shares as principal for its own account for investment purposes only and not with
    a view to or for distributing or reselling such Shares or any part thereof, without prejudice, however, to such Purchaser’s
    right at all times to sell or otherwise dispose of all or any part of such Shares in compliance with applicable federal and
    state securities laws. Subject to the immediately preceding sentence, nothing contained herein shall be deemed a representation
    or warranty by such Purchaser to hold the Shares for any period of time. Such Purchaser is acquiring the Shares hereunder
    in the ordinary course of its business. Such Purchaser does not have any agreement or understanding, directly or indirectly,
    with any Person to distribute any of the Shares.
	 	 	 
	 	(c)	Purchaser
    Status.

 

	 	(i)	The
    Purchaser agrees and acknowledges that it was not, a “U.S. Person” (as defined below) at the time the Purchaser
    was offered the Shares and as of the date hereof:

 

	 	(A)
    	Any
    natural person resident in the United States;
	 	 	 
	 	(B)
    	Any
    partnership or corporation organized or incorporated under the laws of the United States;
	 	 	 
	 	(C)
    	Any
    estate of which any executor or administrator is a U.S. person;
	 	 	 
	 	(D)
    	Any
    trust of which any trustee is a U.S. person;
	 	 	 
	 	(E)
    	Any
    agency or branch of a foreign entity located in the United States;
	 	 	 
	 	(F)
    	Any
    non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
    or account of a U.S. person;
	 	 	 
	 	(G)
    	Any
    discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
    or (if an individual) resident of the United States; and
	 	 	 
	 	(H)
    	Any
    partnership or corporation if (i) organized or incorporated under the laws of any foreign jurisdiction and (ii) formed by
    a U.S. person principally for the purpose of investing in securities not registered under the 1933 Act, unless it is organized
    or incorporated, and owned, by accredited Purchasers (as defined in Rule 501(a) of Regulation D promulgated under the 1933
    Act) who are not natural persons, estates or trusts.

 

    	 

     

    

 

“United
States” or “U.S.” means the United States of America, its territories and possessions, any State
of the United States, and the District of Columbia.

 

	 	(ii)	The
    Purchaser understands that no action has been or will be taken in any jurisdiction by the Company that would permit a public
    offering of the Shares in any country or jurisdiction where action for that purpose is required. 
	 	 	 
	 	(iii)	The
    Purchaser (i) as of the execution date of this Agreement is not located within the United States, and (ii) is not purchasing
    the Shares for the account or benefit of any U.S. Person, except in accordance with one or more available exemptions from
    the registration requirements of the 1933 Act or in a transaction not subject thereto.
	 	 	 
	 	(iv)	The
    Purchaser will not resell the Shares except in accordance with the provisions of Regulation S (Rule 901 through 905 and Preliminary
    Notes thereto), pursuant to a registration statement under the 1933 Act, or pursuant to an available exemption from registration;
    and agrees not to engage in hedging transactions with regard to such securities unless in compliance with the 1933 Act.
	 	 	 
	 	(v)	The
    Purchaser will not engage in hedging transactions with regard to shares of the Company prior to the expiration of the distribution
    compliance period specified in Category 2 or 3 (paragraph (b)(2) or (b)(3)) in Rule 903 of Regulation S, as applicable, unless
    in compliance with the 1933 Act; and as applicable, shall include statements to the effect that the securities have not been
    registered under the 1933 Act and may not be offered or sold in the United States or to U.S. persons (other than distributors)
    unless the securities are registered under the 1933 Act, or an exemption from the registration requirements of the 1933 Act
    is available. 
	 	 	 
	 	(vi)	No
    form of “directed selling efforts” (as defined in Rule 902 of Regulation S under the 1933 Act), general solicitation
    or general advertising in violation of the 1933 Act has been or will be used nor will any offers by means of any directed
    selling efforts in the United States be made by the Purchaser or any of their representatives in connection with the offer
    and sale of the Purchased Shares.

 

	 	(d)	General
    Solicitation. Such Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication
    regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented
    at any seminar or any other general solicitation or general advertisement.

 

    	 

     

    

 

	 	(e)	Access
    to Information. Such Purchaser acknowledges that it has reviewed the disclosure materials and has been afforded (i) the
    opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company
    concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii)
    access to information about the Company and the Subsidiaries and their respective financial condition, results of operations,
    business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity
    to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that
    is necessary to make an informed investment decision with respect to the investment. Neither such inquiries nor any other
    investigation conducted by or on behalf of such Purchaser or its representatives or counsel shall modify, amend or affect
    such Purchaser’s right to rely on the truth, accuracy and completeness of the Disclosure Materials and the Company’s
    representations and warranties contained in the Transaction Documents.
	 	 	 
	 	(f)	Independent
    Investment Decision. Such Purchaser has independently evaluated the merits of its decision to purchase the Shares pursuant
    to the Agreement, and such Purchaser confirms that it has not relied on the advice of any other Purchaser’s business
    and/or legal counsel in making such decision. Such Purchaser has not relied on the business or legal advice of the Company
    or any of its agents, counsel or Affiliates in making its investment decision hereunder, and confirms that none of such Persons
    has made any representations or warranties to such Purchaser in connection with the transactions contemplated by the Transaction
    Documents.

 

	 	5.	Miscellaneous

 

	 	(a)	Confidentiality.
    The Purchaser covenants and agrees that it will keep confidential and will not disclose or divulge any confidential or
    proprietary information that such Purchaser may obtain from the Company pursuant to financial statements, reports, and other
    materials submitted by the Company to such Purchaser in connection with this offering or as a result of discussions with or
    inquiry made to the Company, unless such information is known, or until such information becomes known, to the public through
    no action by the Purchaser; provided, however, that a Purchaser may disclose such information (i) to its attorneys, accountants,
    consultants, and other professionals to the extent necessary in connection with his or her investment in the Company so long
    as any such professional to whom such information is disclosed is made aware of the Purchaser’s obligations hereunder
    and such professional agrees to be likewise bound as though such professional were a party hereto, (ii) if such information
    becomes generally available to the public through no fault of the Purchaser, or (iii) if such disclosure is required by applicable
    law or judicial order.
	 	 	 
	 	(b)	Successors.
    The covenants, representations and warranties contained in this Agreement shall be binding on the Purchaser’s and the
    Company’s heirs and legal representatives and shall inure to the benefit of the respective successors and assigns of
    the Company. The rights and obligations of this Subscription Agreement may not be assigned by any party without the prior
    written consent of the other party.

 

    	 

     

    

 

	 	(c)	Counterparts.
    This Agreement may be executed in counterparts, each of which shall be deemed an original agreement, but all of which together
    shall constitute one and the same instrument. 
	 	 	 
	 	(d)	Execution
    by Facsimile. Execution and delivery of this Agreement by facsimile transmission (including the delivery of documents
    in Adobe PDF format) shall constitute execution and delivery of this Agreement for all purposes, with the same force and effect
    as execution and delivery of an original manually signed copy hereof.
	 	 	 
	 	(e)	Governing
    Law and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada
    applicable to contracts to be wholly performed within such state and without regard to conflicts of laws provisions. Any legal
    action or proceeding arising out of or relating to this Subscription Agreement and/or the Offering Documents may be instituted
    in the courts of the State of Nevada sitting in Nevada, and the parties hereto irrevocably submit to the jurisdiction of each
    such court in any action or proceeding. Purchaser hereby irrevocably waives and agrees not to assert, by way of motion, as
    a defense, or otherwise, in every suit, action or other proceeding arising out of or based on this Subscription Agreement
    and/or the Offering Documents and brought in any such court, any claim that Purchaser is not subject personally to the jurisdiction
    of the above named courts, that Purchaser’s property is exempt or immune from attachment or execution, that the suit,
    action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.
	 	 	 
	 	(f)	Notices.
    All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be delivered by certified
    or registered mail (first class postage pre-paid), guaranteed overnight delivery, or facsimile transmission if such transmission
    is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed overnight delivery,
    to the following addresses and facsimile numbers (or to such other addresses or facsimile numbers which such party shall subsequently
    designate in writing to the other party):

 

	 	(i)	if
    to the Company:
	 	 	 
	 	 	Rito
    Group Corp.
	 	 	Attn:
    Choi Tak Yin Addy
	 	 	Room
    6C, 4/F, Block C
	 	 	Hong
    Kong Industrial Centre, 
	 	 	489
    Castle Peak Road, Lai Chi Kok, 
	 	 	Hong
    Kong
	 	 	 
	 	(ii)	if
    to the Purchasers: 
	 	 	 
	 	 	To
    the addresses set forth on the signature pages.

 

    	 

     

    

 

	 	(g)
    	Entire
                                         Agreement. This Agreement and other Transaction
                                         Documents delivered at the Closing pursuant hereto, contain the entire understanding
                                         of the parties in respect of its subject matter and supersede all prior agreements and
                                         understandings between or among the parties with respect to such subject matter.
	 	 	 
	 	(h)
    	Amendment;
    Waiver. This Agreement may not be modified, amended, supplemented, canceled or discharged, except by written instrument
    executed by the Company and the Purchasers of not less than a majority of the principal amount of the subscription. No failure
    to exercise, and no delay in exercising, any right, power or privilege under this Agreement shall operate as a waiver, nor
    shall any single or partial exercise of any right, power or privilege hereunder preclude the exercise of any other right,
    power or privilege. No waiver of any breach of any provision shall be deemed to be a waiver of any proceeding or succeeding
    breach of the same or any other provision, nor shall any waiver be implied from any course of dealing between the parties.
    No extension of time for performance of any obligations or other acts hereunder or under any other agreement shall be deemed
    to be an extension of the time for performance of any other obligations or any other acts. The rights and remedies of the
    parties under this Agreement are in addition to all other rights and remedies, at law or equity, that they may have against
    each other.
	 	 	 
	 	(i)	Severability.
    If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability
    of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties
    will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefore, and upon so agreeing,
    shall incorporate such substitute provision in this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

	COMPANY:
    	Rito
    Group Corp.
	 	 	 
	 	By:	/s/
    CHOI TAK YIN ADDY
	 	Name:	Choi
    Tak Yin Addy
	 	Title:	Director,
    CEO
	 	 	 
	PURCHASER:
    	 
	 	Name:
    [Name of Investor]
	 	 
	 	Purchase
    Price: $[Total subscription amount]
	 	Number
    of Shares: [Number of Shares]
	 	 
	 	Address:
    [Address of Investor]
	 	 
	 	Telephone
    & Email:
	 	[Telephone
    & Email of Investor]EX-10.1

 Exhibit 10.1 

ACHIEVE PHARMA UK LIMITED 

August 1, 2017 
 Richard Stewart 

5 The Vineyard 
 Richmond, Surrey 

TW10 6AQ 
 United Kingdom 

Dear Rick: 
 Achieve Pharma UK Limited (the
“Company”) is pleased to offer you employment on the terms set out below and contained in Exhibit A and Exhibit B attached. 
 This
employment agreement (the “Agreement”) is entered into by and between you and the Company. 
  

	1.	Position. 

  

	 	1.1	Your initial title will be Chairman and Chief Executive Officer. While you serve as Chairman and Chief Executive Officer, you will also serve on the Board. This is a full-time position. In addition to your role with the
Company, based wholly in the UK, you have been appointed as a Director of Achieve Life Sciences, Inc. (the “Parent Company”) 

You shall report directly to the Board of Directors of the Parent Company. You shall have such duties, authority and responsibilities that are
commensurate with being a director of the Parent Company and the Employer. 
  

	 	1.2	Whilst you are employed by the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that, in the reasonable
opinion of the Company, would create a conflict of interest with the Company. It is understood between you and the Company that you may continue your work with Ricanto Limited so long as you dedicate a minimum of 40 hours per week to the Company. By
signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company or any Group Company. 

 

	 	1.3	You agree, without being entitled to further remuneration, to perform duties for any Group Company. During your employment you must at all times: 

 

	 	(a)	use your best endeavours to promote the success, interests and reputation of the Group giving at all times the full benefit of your knowledge, experience, expertise and skill; 

 

	 	(b)	faithfully and diligently to the best of your ability exercise such powers and perform such duties in relation to the Group as the Board from time to time may require; 

 

	 	(c)	provide overall direction for the Company in order for it to implement agreed strategies in order to meet Company goals and objectives; 

	 	(d)	make create and sustain the organizational culture and environment needed to achieve objectives and results and recruit and retain a high performance operating team 

 

	 	(e)	oversee the management and administration of the Company; 

  

	 	(f)	comply with your duties under the Companies Act 2006 (as amended from time to time) and similar legislation worldwide and any policy of the Company from time to time relating to dealings in shares, debentures or other
securities of the Company or any Group Company, any unpublished price sensitive information, or market abuse; 

  

	 	(g)	keep the Board promptly and fully informed of your conduct of the business of the Company and provide the Board with all information regarding the affairs of the Company and any Group Company as it shall require;

  

	 	(h)	conform to the instructions or directions of the Board; 

  

	 	(i)	comply with all laws and policies of the Company, including those relating to anti-bribery and corruption; 

  

	 	(j)	not do anything that would cause you to be disqualified from continuing to act as a director of the Company or any Group Company; 

  

	 	(k)	not resign from your office of director of the Company or any Group Company without the consent of the Company, and at the written request of the Board, immediately resign from all and any directorships and other
offices held in the Company and any Group Company. 

  

	2.	Compensation. 

  

	 	2.1	The Company will pay you a starting salary at the rate of $500,000 USD per year which shall accrue day to day and be payable in equal monthly instalments in arrears in accordance with the Company’s standard payroll
schedule. Your salary will be subject to annual review. 

  

	 	2.2	In addition, you will be eligible for an incentive bonus of up to 50% of your base salary for each fiscal year of the Company, based on the achievement of performance objectives to be mutually agreed upon by you and the
Board each year. Any bonus for the fiscal year in which your employment begins will be prorated, based on the number of days you are employed by the Company during that fiscal year. Any bonus for a fiscal year will be paid within 2 1⁄2 months after the close of that fiscal year, but only if you are still employed by the Company at the time of payment. However, if you are terminated Without
Cause after the fiscal year end and your Termination Date is prior to the day when the bonus is paid, you are eligible for any accrued, unpaid bonuses earned by you (provided that any such bonus has been awarded by the Board). The Board or the
Compensation Committee may, in its sole discretion, determine not to award a bonus or to award a bonus at less than maximum eligibility. You acknowledge that a Bonus is neither required nor guaranteed by this Agreement. The determinations of the
Board (based on the recommendations of the Compensation Committee) with respect to your bonus will be final and binding. 

  

	 	2.3	The above amounts will be paid to you in USD or GBP calculated based on monthly average exchange rates. 

  
 -2- 

	 	2.3	By entering into this employment contract, you consent to the deduction from your salary and any bonus (or any sum due from the Company or any Group Company) any sums that you owe to the Company or any Group Company
from time to time and agree to make payment to the Company or any Group Company of any sums owed by you to the Company or any Group Company upon demand by the Company at any time. This sub Clause is without prejudice to the right of the Company and
any Group Company to recover any sums or balance of sums owed by the Executive to the Company or any Group Company by legal proceedings. 

  

	3.	Employee Benefits. 

  

	 	3.1	As a regular employee of the Company, you will be eligible to participate in regular health insurance and other employee benefit plans established by the Company for its employees from time to time. 

 

	 	3.2	In addition, you will be eligible for paid time off (“PTO”) in accordance with the Company’s PTO policy, as in effect from time to time (please see your annual leave allowance as set out in
Exhibit B). 

  

	 	3.3	The Company may be required to arrange for you to have pension scheme membership in accordance with Chapter 1 of Part 1 of the Pensions Act 2008. If you become a member of a pension scheme, the Company shall be entitled
to deduct pension contributions from your salary and pay them to the administrator of the pension scheme on behalf of you in accordance with the pension scheme rules. 

 

	 	3.4	The Company reserves the right to change or otherwise modify, in its sole discretion, your right to receive any of the employee benefits set out in this clause 3, the terms of the policies and schemes referred to in
this clause 3, and the amount of your benefit. Your participation in any health insurance, pension scheme or other employee benefit plan shall be subject at all times to the rules of the relevant scheme from time to time in force and your
participation in any insurance scheme being at a premium that the Company considers reasonable. In the event an insurer refuses to provide you with any benefit under an insurance scheme, you agree that you shall have no right of action against the
Company in respect of such refusal. 

  

	4.	Indemnification. 

  

	 	4.1	The Company, its Parent Company and all its subsidiary companies shall indemnify you in respect of any liabilities you incur as a result of the duties carried out in the course of your employment to the maximum extent
permitted by applicable law and the Company’s certificate of incorporation and bylaws. 

  

	 	4.2	During your employment, the Company shall maintain officers’ liability insurance for your benefit on terms and conditions no less favourable than the terms and conditions generally applicable to the Company’s
other senior executive officers. 

  

	 	4.3	The Company’s obligations under this Section 4 shall survive your cessation of employment and also the termination or expiration of this letter agreement for a period of up to 6 years. 

 

	5.	Confidentiality. 

  

	 	5.1	As an employee of the Company, you will have access to certain confidential information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the
property of the Company. To protect the interests of the Company, you will need to sign the Company’s standard “Employee Agreement Regarding Confidential Information and Intellectual Property,” a copy of which is attached hereto as
Exhibit B, as a condition of your employment. 

  
 -3- 

	 	5.2	We wish to impress upon you that we do not want you to, and we hereby direct you not to, bring with you any confidential or proprietary material of any former employer or to violate any other obligations you may have to
any former employer. 

  

	 	5.3	During the period that you render services to the Company, you agree to not engage in any employment, business or activity that is in any way competitive with the business or proposed business of the Company. You will
disclose to the Company in writing any other gainful employment, business or activity that you are currently associated with or participate in that competes with the Company. You will not assist any other person or organization in competing with the
Company or in preparing to engage in competition with the business or proposed business of the Company. 

  

	6.	No Breach of Obligations to Prior Employers. 

  

	 	6.1	You warrant that by signing this employment contract and the agreement at Exhibit B, that your commencement of employment with the Company will not violate any agreement currently in place between yourself and current
or past employers. 

  

	7.	Employment Relationship and Notice of Termination. 

  

	 	7.1	Your employment with the Company is for no specific period of time. 

  

	 	7.2	Subject to clauses 8 and 9, your employment with the Company shall be subject to termination by either party giving to the other 1 months prior notice in writing (or, in the case of the Company giving notice, 1
months’ or the statutory minimum, whichever is the longer period). At that time (i) the Company has completed one or more financing(s) totalling a minimum of US$10 million in gross proceeds; or (ii) 12 months has passed from the
execution date of this Agreement, the notice period shall be increased to 2 months’ or the statutory minimum, whichever is the longer period. Any period of notice shall commence immediately when it is given, irrespective of the time or date of
receipt. 

  

	 	7.3	The Company may at any time in its absolute discretion elect to terminate your employment forthwith and with immediate effect by notifying you in writing that: 

 

	 	(a)	your employment is being terminated in exercise of this right, 

  

	 	(b)	the date upon which your employment is so terminated, and 

  

	 	(c)	the fact that you shall be entitled to receive in lieu of the notice period (or part thereof) an amount that shall be equivalent to your basic salary, or a combination of both, all at the Company’s sole and
absolute discretion. 

 If the Company exercises its right to make you a payment in lieu of notice, the Company will make the
payment to you within 28 days of the termination of your employment. Any such payment will be subject to such deductions for tax and national insurance as are required by law. 

  
 -4- 

	8.	Summary termination 

  

	 	8.1	Notwithstanding the provisions of clause 7 and 9, the Company may by written notice terminate your employment with immediate effect if you: 

 

	 	(a)	substantially and wilfully failure to perform your duties and responsibilities to the Company or any Group Company; 

  

	 	(b)	you deliberately violate a Company or Group Company policy; 

  

	 	(c)	you commission an act of fraud, embezzlement, dishonesty or any other wilful misconduct that has caused or is reasonably expected to result in material injury to the Company or any Group Company; 

 

	 	(d)	you use or disclose any Confidential Information or trade secrets of the Company or any Group Company or any other party to whom the Company or a Group Company owes an obligation of nondisclosure in circumstances where
you are unauthorised to do so; 

  

	 	(e)	you wilfully breach any of your obligations under any written agreement or covenant with the Company or any Group Company; 

  

	 	(f)	resigns as a director of the Company without the written consent of the Board or is disqualified from holding office as a director; 

  

	 	(g)	is convicted of a criminal offence (excluding an offence under road traffic legislation); 

  

	 	(h)	is made the subject of a bankruptcy order or has a receiving order or an administration order made against him; 

  

	 	(i)	becomes addicted to or is habitually under the influence of alcohol or any drug (not being a drug prescribed for you by a medical practitioner) the possession of which is controlled by law; 

 

	 	(j)	becomes a patient within the meaning of the Mental Health Act 1983; or 

  

	 	(k)	fails to comply any applicable laws, regulations, rules and codes of conduct in relation to share dealing, market abuse, bribery or corruption. 

 

	9.	Termination on Account of Illness or Injury 

  

	 	9.1	Without prejudice to clause 7 and clause 8, if you become unable to perform your duties properly by reason of illness or injury for a period or periods aggregating at least 26 weeks in any period of 12 consecutive
calendar months, then the Company may, by not less than 3 months’ prior written notice, terminate your employment. The Company agrees to withdraw any notice of termination given under this clause 9 if during the currency of the notice you
return to your full time duties and provide a medical practitioner’s certificate satisfactory to the Board that confirms that you have recovered fully in your health and no recurrence of the illness or injury can be reasonably anticipated.

  
 -5- 

	10.	Garden Leave 

  

	 	10.1	Without prejudice to the provisions of clauses 7-9, the Company may at any time during your employment, require you to cease performing all or any of your duties for such period
or periods of time as the Company shall in its absolute discretion determine (the “Garden Leave”). Notice provided by the Company of Garden Leave shall include the duration of such leave, where reasonably practicable. During any
such period of Garden Leave: 

  

	 	(a)	the Company shall continue to pay you your salary and shall provide you with all benefits to which you are entitled under this employment contract; 

 

	 	(b)	the Company shall be under no obligation to provide you with any work and shall be entitled to appoint any other person or persons to perform your duties under this employment contract; 

 

	 	(c)	you shall not, without the prior written consent of the Company, enter into or attend any Company premises or contact any employees, officers, customers, clients, agents or suppliers of the Company without its prior
permission; 

  

	 	(d)	you shall, at the request of the Company, immediately deliver to the Company all property in your possession or control that belongs to the Company or which relates to the business of the Company; 

 

	 	(e)	you shall keep the Company updated of your whereabouts so that you can be called upon to perform appropriate duties as required by the Company; and 

 

	 	(f)	for the avoidance of doubt, you shall continue to be bound by all of your obligations under this employment contract insofar as they are compatible with you being on garden leave including, without limitation, your duty
of good faith to the Company. 

  

	11.	Qualifying Termination 

 11.1    In the event of a Qualifying
Termination you will be eligible for the following benefits if at that time (i) the Company has completed one or more financing(s) totalling a minimum of US$10 million in gross proceeds; or (ii) 12 months has passed from the execution date
of this Agreement: 
  

	 	(a)	Severance Benefits. 

  

	 	(i)	The Company shall pay you 18 months of your monthly base salary (at the rate in effect immediately prior to the Separation) (the “Severance Payment”). 

 

	 	(ii)	You will receive your Severance Payment as a lump-sum, subject to any lawful deductions for tax, national insurance contributions or otherwise. The Severance Payment will be paid
in accordance with the Company’s standard payroll procedures which will be made on the next regular payroll date occurring after the Company has received a Settlement Agreement that complies with clause 13.1 from you. 

 

	 	(b)	Benefits 

  

	 	(ii)	The Company shall pay the full amount for the continuation of any employer-provided health benefits that it, in its sole discretion, decides to extend after the Termination Date. 

 

	 	(ii)	 Notwithstanding the foregoing, instead of continuing to provide you with health benefits under
clause 11.1(b) (i) above, the 

  
 -6- 

	 	
Company may in its sole discretion choose to pay you a sum (whether as a lump sum or in instalments) in respect of any health insurance benefit that you sacrifice as a result of the termination
of your employment. Any such sum will be subject to income tax and national insurance contributions and will take into account the premium paid by the Company in respect of your participation in its healthcare schemes in the month prior to your
Separation. Any such payments under this clause 11.1(b)(ii) shall commence on the later of: 

  

	 	(1)	the first day of the month following the month in which you experience a Separation; and 

  

	 	(2)	the date that the Company decides that you will receive a sum under this clause 11.1(b)(ii). 

Any payments under this clause 11.1(b) (ii) shall end on the earlier of: 

 

	 	(1)	the date on which you become covered by an insurance plan of a subsequent employer that the sums paid under this clause 11.1(b)(ii) are intended to cover; and 

 

	 	(2)	the last day of the period that you are paid severance benefits pursuant to clause 11.1(a) after the Separation. 

  

	 	(c)	Equity Awards 

  

	 	(i)	Each of your then outstanding Equity Awards, including awards that would otherwise vest only upon satisfaction of performance criteria, shall accelerate and become vested and exercisable as to an additional 18 months as
if you had continued service during that time. 

  

	 	(ii)	Subject to clause 13.1, the accelerated vesting described above shall be effective as of the Separation. 

You acknowledge and agree that you may waive the rights to the benefits contained in this Section 11 by a separate mutual written consent.

  

	12.	Corporate Qualifying Termination 

 12.1    If a Corporate Qualifying
Termination occurs then you will be entitled to the following benefits: 
  

	 	(a)	Severance Benefits 

  

	 	(i)	The Company or its successor shall pay you 24 months of your monthly base salary (at the rate in effect immediately prior to the actions that resulted in the Separation) plus 100% of your target annual bonus for the
year in which the Separation occurs (the “Corporate Severance Payment”). 

  

	 	(ii)	 You will be paid the Corporate Severance Payment as a lump sum payment in accordance with the Company’s
standard 

  
 -7- 

	 	
payroll procedures on the next regular payroll date occurring after the Company has received a Settlement Agreement from you that complies with clause 13.1. The Corporate Severance Payment will
be subject to any lawful deductions for income tax, national insurance contributions or otherwise. 

  

	 	(b)	Benefits 

  

	 	(i)	The conditions concerning employer-provided health benefits or a monetary equivalent set out at clause 11.1(b) above shall apply on the same terms to you, for the same period that you are paid severance benefits
pursuant to Section 12(a) following your Separation or, if earlier, until you are eligible to be covered under another substantially equivalent medical insurance plan by a subsequent employer. 

 

	 	(c)	Equity Awards 

  

	 	(i)	Each of your then outstanding Equity Awards, including awards that would otherwise vest only upon satisfaction of performance criteria, shall accelerate and become vested and exercisable as to 100% of the then unvested
shares subject to the Equity Award. 

  

	 	(ii)	Subject to clause 13.1 the accelerated vesting described above shall be effective as of the Separation. 

  

	13.	Additional Termination Provisions. 

  

	 	13.1	Settlement Agreement 

 The provisions of clauses 11 and 12 shall not
apply unless: 
  

	 	(a)	you have entered into a legally binding settlement agreement with the Company in respect of all known and unknown claims that you may then have against the Company or any Group Company or any persons affiliated with the
Company or any Group Company (the “Settlement Agreement”); 

  

	 	(b)	you have complied with the terms of the Settlement Agreement; 

  

	 	(c)	you have delivered an executed copy of the Settlement Agreement to the Company within the time period specified in the Settlement Agreement; 

 

	 	(d)	the Settlement Agreement is in the form prescribed by the Company, without alterations; and 

  

	 	(e)	the Settlement Agreement complies with the statutory requirements for waiver of employment-related claims at the date it is entered into. 

 

	 	13.2	Accrued Compensation and Benefits 

  

	 	(a)	 Notwithstanding anything to the contrary in Section 11 and 12 above, in connection with any termination of
employment, the Company shall pay your earned but unpaid base salary and other vested but unpaid cash entitlements for the period through and including the Termination Date 

  
 -8- 

	 	
(as required by law or any applicable Company plan or policy), including unused earned vacation pay and unreimbursed documented business expenses incurred by you through and including the
Termination Date (the “Accrued Compensation and Expenses”). 

  

	 	(b)	In addition, you shall be entitled to any other vested benefits earned by you for the period through and including the Termination Date under any other employee benefit plans and arrangements maintained by the Company,
in accordance with the terms of such plans and arrangements, except as modified herein (collectively “Accrued Benefits”). 

  

	 	(c)	Any Accrued Compensation and Expenses to which you are entitled shall be paid to you as soon as administratively practicable after the termination and, in any event, no later than two and
one-half (2-1/2) months after the end of the taxable year in which the Termination Date occurs. Any Accrued Benefits which you are entitled shall be paid to you as
provided in the relevant plans and arrangements. Any Accrued Compensation and Expenses and any Accrued Benefits to which you are entitled shall be subject to any lawful deductions for tax, national insurance or otherwise. 

 

	 	(d)	For the avoidance of doubt, in no event shall you receive payment under both Section 11 and Section 12. 

  

	14.	Tax 

  

	 	14.1	All compensation and benefits payable to you under this agreement or as a result of your employment with the Company shall be subject to such lawful deductions for tax, national insurance contributions or otherwise.

  

	 	14.2	You are encouraged to obtain your own tax advice regarding your compensation from the Company. 

  

	 	14.3	You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the Company or the Board related to tax
liabilities arising from your compensation. 

  

	15.	Interpretation, Amendment and Enforcement. 

  

	 	15.1	This letter agreement, together with its two exhibits, supersede and replace any prior agreements, representations or understandings (whether written, oral, implied or otherwise) between you and the Company and
constitute the entire agreement between you and the Company regarding the subject matter set forth herein. 

  

	 	15.2	This letter agreement may not be subject to material amendment or modification, except by an express written agreement signed by both you and a duly authorized officer of the Company. 

 

	 	15.3	The terms of this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter
agreement, your employment with the Company or any other relationship between you and the Company (the “Disputes”) will be governed by the laws of England and Wales. 

  
 -9- 

	 	15.4	You and the Company submit to the exclusive personal jurisdiction of the laws of England and Wales in connection with any Dispute or any claim related to any Dispute. 

 

	16.	Definitions. 

 The following terms have the meaning set forth below wherever they
are used in this letter agreement: 
  

			
	“Associated Company”	  	means a company or undertaking (which is not a Subsidiary or Holding Company of the Company or a Group Company) of which more than 20 per cent of the equity share capital is for the time being owned by the Company or a Group
Company or which for the time being owns more than 20 per cent of the equity share capital of the Company or a Group Company;
		
	“Board”	  	shall mean the board of directors of the Company;
		
	“Cause”	  	 shall mean:
  

i.   your substantial failure to perform your duties and responsibilities to the Company or any
Group Company or your deliberate violation of a Company or Group Company policy;
  

ii.  your commission of any act of fraud, embezzlement, dishonesty or any other misconduct that has caused
or is reasonably expected to result in material injury to the Company or any Group Company;
  

iii.   your unauthorized use or disclosure of any Confidential Information or trade secrets of the
Company or any Group Company or any other party to whom the Company or a Group Company owes an obligation of nondisclosure; or
  

iv.   your wilful breach of any of your obligations under any written agreement or covenant with the
Company or any Group Company.
  
 The determination as to whether
your service is being terminated for Cause shall be made in good faith by the Company and shall be final and binding.
  

The foregoing definition does not in any way limit the Company’s ability to terminate your employment at any time as provided in
clauses 7, 8 or 9.

		
	“Corporate Transaction”	  	 shall occur in the following circumstances:
  

i.   any Person becomes the Beneficial Owner directly or indirectly of securities of the Company
representing more than fifty percent (50%) of the total voting power represented by the

  
 -10- 

			
		  	      Company’s then-outstanding voting securities provided that the
acquisition of additional securities by any one Person who is considered to own more than fifty percent (50%) of the total voting power of the securities of the Company will not be considered a Corporate Transaction;

 
 ii.  the consummation of the sale or
disposition by the Company of all or substantially all of the Company’s assets;
  

iii.   the consummation of a merger or consolidation of the Company with any other corporation,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation;

 
 iv.   any other transaction
which qualifies as a “corporate transaction” wherein the shareholders of the Company give up all of their equity interest in the Company (except for the acquisition, sale or transfer of all or substantially all of the outstanding shares of
the capital stock of the Company); or
  

v.  a change in the effective control of the Company that occurs on the date that a majority of members of
the Board is replaced during any twelve (12) month period by members of the Board whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. If any Person is
considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Corporate Transaction. 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 the Company;
  

     provided that the transaction (including any series of transactions) also qualifies
as a change in control event under U.S. Treasury Regulation 1.409A-3(i)(5);

  
 -11- 

			
		
	 “Corporate Qualifying

Termination”
	  	occurs when there is a Separation within twelve (12) months following a Corporate Transaction which results from (i) the Company or its successor terminating your employment for any reason other than Cause or
(ii) circumstances where you Voluntarily Resigned from your employment for Good Reason. A Separation arising from your death or disability shall not constitute a Corporate Qualifying Termination;
		
	“Equity Awards”	  	means all options to purchase shares of Company common stock, including the option, as well as any and all other stock-based awards granted to you, including but not limited to stock bonus awards, restricted stock, restricted stock
units or stock appreciation rights;
		
	“Good Reason”	  	 shall arise when the Company does one of the following acts without your consent:

 
 i.   materially reduces your
level of responsibility and/or scope of authority (although a change in responsibility shall not be deemed to occur solely because you are part of a larger organization or solely because you are given a change in job title);

 
 ii.  reduces your base salary, other
than in circumstances where generally all of the executive officers of the Company have had their salary reduced to a similar extent;

  

iii.   relocates your principal workplace by more than thirty-five (35) miles from your then
current place of employment;

		
	“Group”	  	 means
  

i.   the Company;
  

ii.  any Holding Company for the time being of the Company;

 
 iii.   any Subsidiary for the
time being of the Company or of the Company’s Holding Company
  

iv.   any Associated Company, and

 
 v.  any other company or body
corporate or other form of business entity the name of which is notified in writing to you as being a member of the Group.

		
	“Group Company”	  	means any member of the Group other than the Company from time to time (including but not limited to the Parent Company);

  
 -12- 

			
		
	 “Holding Company”

and “Subsidiary”
	  	have the meanings given to them respectively in section 1159 of the Companies Act 2006;
		
	“Qualifying Termination”	  	 occurs when there is a Separation that is not a Corporate Qualifying Termination, in circumstances where either:

 
 i.   the Company has terminated
your employment for a reason other than Cause; or
  

ii.  you have Voluntarily Resigned from your employment for Good Reason;

 
 provided at all times that the termination of your employment is not due to your death
or disability;
  

		
	“Separation”	  	 occurs when both parties anticipate at the Termination Date that either:

 
 i.   you will not perform any
further services for the Company after the Termination Date; or
  

ii.  the level of services that you are required to perform for the Company after the Termination Date
(whether as an employee or as an independent contractor) is no more than 20% of the average level of services that you provided for the Company over the previous 36 months;

		
	“Termination Date”	  	the date that your employment with the Company comes to an end;
		
	“Voluntary Resigned”	  	 occurs when all of the following requirements have been satisfied:
  

i.   you have provided notice to the Company of your intent to assert Good Reason (the “Good
Reason Notice”) within sixty (60) days of you becoming aware that one or more of the conditions giving rise to a Good Reason exists;
  

ii.  after thirty (30) days of serving the Good Reason Notice (the “Company Cure
Period”), the Company has not remedied the condition(s) giving rise to a Good Reason; and

  

iii.   you have served notice to terminate your employment with the Company within ten
(10) days of the earlier of
  

     (a) the expiration of the Company Cure Period, and

 
      (b) the date
that the Company otherwise serves notice on you that it will not undertake to remedy the condition(s) giving rise to the Good Reason.

  
 -13- 

			
		  	  
 For the avoidance of doubt, in the event the Company remedies the
condition giving rise to the Good Reason during the Company Cure Period, if you continue to terminate your employment with the Company, you will not be entitled to receive any of the benefits outlined at clauses 11 or 12 of this employment
contract. Furthermore, should the Company remedy the condition giving rise to the Good Reason and then one or more of the conditions arises again within twelve (12) months following the occurrence of a Corporate Transaction, you may assert Good
Reason again subject to all of the conditions set out in this employment contract.

 We hope that you will accept our offer to join the Company. You may indicate your agreement with these terms and accept
this offer by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Employee Agreement Regarding Confidential Information and Intellectual Property and returning them to me. 

If you have any questions, please call me. 
  

	
	 Very truly yours
  

ACHIEVE PHARMA UK LIMITED

	
	/s/ Anthony Clarke
	
	By: Anthony Clarke
	
	Title: President & Chief Scientific Officer

  

	
	I have read and accept this employment offer:
	
	/s/ Richard Stewart 
	Signature of Richard Stewart

  

			
	Dated:	 	May 22, 2018

 Attachment 
 Exhibit A:
Statement of Particulars for the purpose of section 1 Employment Rights Act 1996 
 Exhibit B: Employee Agreement Regarding Confidential Information and
Intellectual Property 

  
 -14- 

 EXHIBIT A 

Statement of Particulars for the purpose of section 1 Employment Rights Act 1996 

The following information is given to supplement the information given in the body of the employment contract and to comply with the
requirements of section 1 Employment Rights Act 1996: 
  

			
	Name of employer	  	Achieve Pharma UK Limited (the “Company”)
		
	Name of employee	  	Richard Stewart
		
	Date on which the employment began	  	1 August 2017
		
	Date of commencement of continuous employment	  	1 August 2017
		
	Rate and intervals of pay	  	US$500,000 per annum, payable in equal monthly instalments in arrears
		
	Notice of termination of employment to be given by the employer	  	1 month or the statutory minimum, whichever is the longer (subject to the provisions of section 7.2 and 11.1 above)
		
	Notice of termination of employment to be given by the employee	  	1 month or the statutory minimum, whichever is the longer (subject to the provisions of section 7.2)
		
	Employee’s job title	  	Chairman and Chief Executive Officer
		
	Employee’s place of work	  	You will work at the London office or anywhere else required for the Board for the proper performance of your duties. You agree to undertake such journeys in the United Kingdom and elsewhere as the Board shall require.
		
	Collective agreements which directly affect the terms and conditions of the employment	  	None
		
	Hours of work	  	Your working time will be determined exclusively by you and will change to suit business needs. As such, you agree that you fall within Regulation 20(1) of the Working Time Regulations 1998 so that you are not affected by the limit
on weekly working time contained in Regulation 4(1) of the Working

  
 -15- 

			
		  	Time Regulations 1998. If this is not the case, by entering into this employment contract you agree that the limit in Regulation 4(1) shall not apply to you, so that your working time (including overtime) may exceed an average
of 48 hours for each 7 day period whenever this is necessary for the proper performance of your duties.
		
	Holiday entitlement	  	You shall be entitled to 20 working days paid holiday in each holiday year in addition to such observed bank and Company holidays. The holiday year runs from January to December each year. Holiday entitlement must be taken at such
times and on such notice as is agreed by the Board.
		
	Sickness absence
	  	You shall be entitled to receive statutory sick pay during any authorized period of absence due to illness or injury until the resumption of your duties. Your absence will only be authorized if you follow the procedures set out in
the Company’s sickness absence policy. You will not be entitled to any further payment from the Company or any Group Company (other than by way of any Statutory Sick Pay or paid statutory holiday due to you pursuant to the terms of this
Agreement) nor to the continued provision of his benefits under this Agreement until the resumption of your duties, although the Company may at the Board’s discretion continue to pay you your normal remuneration for such periods as it considers
appropriate (“Discretionary Sick Pay”)
		
	Pensions arrangements
	  	See clause 3.3 above.
		
	Disciplinary and grievance procedures	  	 The Company’s disciplinary and grievance procedures as implemented from time to time will apply to your employment, with such
modifications as the Company shall deem necessary to take account of your seniority. The said disciplinary and grievance procedures shall not have contractual effect and the Company shall not be obliged to follow the procedures.

 
 The Company may, in its absolute discretion, suspend you on full pay in order to
investigate any claim or allegation which we consider could constitute serious misconduct, where relationships have broken down, where we have any grounds to consider that our property or responsibilities to other parties are at risk, and/or where
we consider that your continued presence at our premises could hinder an

  
 -16- 

			
		  	 investigation. Any such suspension is without prejudice to our right to subsequently end your employment on the same or any other ground and
will last no longer than is necessary to carry out any inquiry or investigation into the circumstances and to hold any appropriate disciplinary hearings.
  

If you wish to appeal against any disciplinary decision or decision to dismiss you, your appeal must be made in writing to the Chief Financial Officer and you
should set out in detail the reasons for your appeal.
  
 If you wish to raise a
grievance, you may do so by writing to the Chief Financial Officer in accordance with our grievance procedure. You should set out in detail the circumstances of your complaint

  
 -17- 

 EXHIBIT B 

Employee Agreement Regarding Confidential Information and Intellectual Property 

In consideration of my employment, compensation and benefits with Achieve UK Pharma Limited, its parent company Achieve Life Sciences, Inc, and all subsidiary
companies (collectively the “Company”) and for other valuable consideration, I agree as follows: 
  

	1.	I will not, without the prior written permission of the Company, disclose to anyone outside of the Company, or use in any manner, other than in connection with the business of the Company, either during or after my
employment, any Confidential Information or Material of the Company (as defined by provision 4 below), or any information or material received in confidence from third parties by the Company. If I reveal or threaten to reveal Confidential
Information, I agree that it would cause irreparable harm to the Company that could not be adequately compensated by way of a damage award, and that the Company shall be entitled to an injunction restraining me from using or disclosing such
Confidential Information, or from rendering any services to any entity to whom such Confidential Information has been or is threatened to be disclosed. The right to secure an injunction is not exclusive and the Company may pursue any other remedies
it has against me in equity or at law for a breach or threatened breach of this condition, including recovery of damages from me. This provision shall survive the termination of my employment with the Company for any reason and regardless of the
party effecting it. 

  

	2.	If I leave the employ of the Company, I will return all property of the Company in my possession or control, including but not limited to, all office equipment, and the original and copies of all files, records, emails
or other documents (whether stored on paper or electronically) as well as all Confidential Information or Material in any form without retaining any copies thereof. 

 

	3.	While employed at the Company and for the period of 1 year after the effective date of the termination of my employment at the Company for any reason and regardless of the party effecting it (the “Restricted
Period”), I will not, directly or indirectly, without the written permission of the Company, whether for my account or for the account of any other Person (excluding the Company), intentionally (i) solicit, endeavor to entice or induce any
employee or consultant of the Company to terminate his employment or relationship with the Company or accept employment or a consultant relationship with anyone else, (ii) solicit, endeavor to entice or induce any customers, clients or
potential customers or clients of the Company to terminate their relationship with the Company or (iii) interfere in a similar manner with the business of the Company. 

 

	4.	Confidential Information or Material of the Company is any information or material, whether written, oral, visual or electronic: 

  

	 	(a)	generated or collected by, or utilized in the operations of the Company that relate to the actual or anticipated business or research and development of the Company; or 

 

	 	(b)	suggested by or resulting from any task assigned to me, or work performed by me for or on behalf of the Company. 

  

	 	(c)	Confidential Information or Material of the Company includes, but is not be limited to, the Company information encompassed in all drawings, designs, drugs, medical devices, formulations, test data or results, original
writings, software in various stages of development (source code, object code, documentation, diagrams and flow charts), plans, proposals, marketing and sales plans, financial information, cost or pricing information, customer lists, trade secrets,
ideas, suppliers and other information that has value to the Company, its customers or business partners. 

  
 -18- 

	5.	I will not disclose to the Company, use in its business, bring on to the Company premises or cause the Company to use, any information or material which is confidential to others. 

 

	6.	I will comply, and do all things necessary for the Company to comply with, the laws and regulations of all governments under which the Company does business, and with provisions of contracts between any such government
or its contractors and the Company that relate to the intellectual property or to the safeguarding of information. I agree that this obligation shall survive the termination of my employment, for whatever reason and regardless of the party effecting
it. 

  

	7.	I agree that the fruits of my labor as an employee shall belong solely to the Company. To the full extent provided by law, any and all inventions, products, designs, discoveries, and work product of any nature
(collectively, the “Work Product”), whether or not patentable, copyrightable or trademarked, which I have conceived and/or made, in whole or in part, during my employment by the Company, and which have any applicability to any aspect of
the business or anticipated research or development of the Company, or the business or anticipated research or development of any of the subsidiaries of the Company, as determined by the Company, shall be the sole and exclusive property of the
Company, and by the execution hereof, I hereby irrevocably assign, transfer and convey to the Company all of my right, title and interest in and to all Work Product which may be developed during my employment by the Company. To the full extent
provided by law, any inventions or original works of authorship I conceive or create in the course of my employment shall be considered “works for hire” or works made in the course of my employment and shall belong solely and exclusively
to the Company. 

  

	  	This provision does not apply to any Work Product for which no equipment, supplies, facilities, or trade secret information of the Company was used and which was developed entirely on my own time, unless (a) the
invention relates directly to the business, or the actual or anticipated research or development of the Company, or (b) the invention results from any work performed by me for the Company. However, I agree to disclose inventions being developed
for the purposes of determining employer or employee rights. 

  

	8.	In connection with any Work Product assigned by provision 7: 

  

	 	(a)	I will promptly communicate and disclose them to the Company after such Work Product has been conceived and/or made in the detail necessary to permit the Company to understand same and practice them without the exercise
of further inventive skill; and 

  

	 	(b)	I will, on the request of the Company, promptly execute any documents necessary to effectuate the assignment of all rights to the Company, and do anything else reasonably necessary to enable the Company to secure a
patent, mask work right, copyright or other form of protection therefor in the United Kingdom and in any other foreign country. However, my failure to so execute any such documents shall in no way be deemed to affect the assignment, transfer and
conveyance of such Work Product to the Company. My obligations in this provision shall survive the termination of employment for any reason and regardless of the parties effecting it. Notwithstanding anything to the contrary in this provision, if I
believe that a specific idea or basis of a Work Product would not have any applicability to any aspect of the business or anticipated research or development of the Company, or the business or anticipated research or development of any subsidiary of
the Company, I may propose such idea or basis for Work Product in writing to the Company and request consent from the Company that such Work Product will not be subject to the provisions hereof. 

  
 -19- 

 9.      The Company and its licensees (direct or indirect) are not required to
designate me as the author or inventor of any development assigned in provision 7 when distributed publicly or otherwise, nor to make any distribution. I waive and release to the extent permitted by law all of my rights to the foregoing. 

10.    Solely for the purpose of determining my rights or the rights of the Company, I have identified on Schedule 1 hereof all
inventions, original works of authorship, developments, improvements and trade secrets that were made by me prior to my engagement by the Company or that I am currently developing. Such inventions include those which are not assigned by paragraph 7
in which I have any right, title or interest, and which were previously made or conceived solely or jointly by me, or written wholly or in part by me, and which relate to the actual or anticipated business or research or development of the Company,
but neither published nor filed in any patent office. If I do not have any to identify, I have written “none” on this line:
None                     

11.    For purposes of enforcing this Agreement, I hereby consent to jurisdiction of England and Wales courts. 

12.    If any legal action is necessary to enforce this Agreement, the prevailing party shall be entitled to recover attorneys’ fees.

 13.    This Agreement does not guarantee me any term of employment, or limit the right of the Company to terminate my employment at
any time with or without cause. 
 14.    If, for any reason, any provision of this Agreement is held invalid, such provision and all
other provisions of this Agreement shall remain in effect to the fullest extent permitted by law. If this Agreement is held invalid or cannot be enforced, then to the full extent permitted by law any prior agreement between the Company (or any
predecessor thereof) and I shall be deemed reinstated as if this Agreement had not been executed. 
 15.    This Agreement represents
the full and complete understanding between me and the Company with respect to the matters set forth herein and supersedes all prior representations and understandings, whether oral or written. My obligations under this Agreement shall be binding
upon my heirs, executors, administrators or other legal representatives or assigns, and this Agreement shall inure to the benefit of the Company, its successors and assigns. This Agreement may not be modified, released or terminated, in whole or in
part, except by an instrument signed in writing by an officer of the Company. 
  

									
					
	Signed:	 	/s/ Richard Stewart	 		 	Dated:	 	May 22, 2018

  

									
					
	Name:	 	Richard Stewart	 		 		 	

 Achieve UK Pharma Limited 

									
					
	Signed:	 	/s/ Anthony Clarke	 		 	Dated:	 	May 22, 2018

  

									
					
	Title:	 	President & Chief Scientific Officer	 		 		 	

  
 -20- 

 Schedule 1 

Excluded Prior Developments Which Relate 

to the Actual or Anticipated Business or 

Research or Development of Achieve Life Sciences Technologies Inc. 

  
 -21-

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