Document:

EX-10.11

 Exhibit 10.11 

Principia Biopharma, Inc. 
 Suite 302 

400 East Jamie Court 
 South San Francisco, CA 94080 

December 19, 2016 
 Stefani Wolff 

 

	Re:	 Offer of Employment 

Dear Stefani: 
 Principia Biopharma Inc. a
Delaware corporation (the “Company”), is pleased to offer you the position of Senior Vice President, Strategy and Operations, on the following terms: 

Employment and Duties 
 In your position
as SVP, Strategy and Operations, you will be responsible for the company’s product strategies and the operational functions of Program Leadership, Technical Operations, Regulatory and Quality as well as Commercial Development. You will provide
key strategic guidance to the product development teams. As a member of the senior leadership team you will contribute to the overall company strategy and represent Principia to external audiences and investors as well as other duties determined by
the Chief Executive Officer of the Company. This is a full time position. You will report to Martin Babler, CEO of the Company, and will principally work from our facility located in South San Francisco. Subject to your right to receive severance
upon a resignation for Good Reason (as defined herein), the Company may change your position, duties, and work location or reporting structure from time to time in its discretion. 

 Base Salary and Annual Bonus 

You will be paid a base salary at the annual rate of $285,000.00 less standard payroll deductions and all required withholdings. Your salary
will be paid twice per month and otherwise in accordance with the Company’s standard payroll policies. 
 In addition to your salary,
each year you will be eligible to earn an annual cash bonus (the “Annual Bonus”). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, shall be determined by the Company’s Board of Directors
(the “Board”) in its sole discretion based upon the Company’s performance and your individual attainment of agreed upon performance objectives during the applicable year, as well as such other criteria that the Board deems relevant.
Performance objectives will be set no later than ninety (90) days after the start of the relevant year. Any Annual Bonus awarded by the Board shall be paid no later than March 15th of the year following the applicable bonus year. You are only
eligible to earn an Annual Bonus if you are employed by the Company on the day any such Annual Bonus is paid. Therefore, in the event you leave the Company’s employment for any reason prior to the date any Annual Bonus is paid, you will not
have earned, and will not receive, any such Annual Bonus (including a prorated amount). 
 Stock Options 

As an additional incentive to join the Company, subject to and contingent upon approval by the Board, you will be eligible to be granted an
unvested stock option to purchase 569,781 (five hundred sixty-nine thousand, seven hundred eighty one) shares of common stock of the Company (which the Company acknowledges and agrees constitutes approximately .50% of the Company’s fully
diluted equity as of the date hereof) pursuant to the Company’s 2008 Equity Incentive Plan (the “Plan”), at a per share exercise price equal to the fair market value of the Company’s common stock on the date of grant (the
“Option”). The Option will be an incentive stock option (“ISO”) to the extent permitted by law. The vesting commencement date (the “VCD”) shall be July 1, 2016. The Option shall vest and become exercisable as to
twenty-five percent (25%) of the Shares subject to the Option on the first anniversary of the VCD, and as to 1/48th of the Shares subject to the Option in equal monthly installments thereafter on
each monthly anniversary thereafter, with such vesting subject to your continuous employment by the Company through the applicable vesting date. The Option shall be subject to the terms and conditions of the Plan and the Company’s standard form
of stock option agreement. 
 Employee Benefits 

You shall be entitled to the Company’s basic employment benefits generally available to all Company employees. You shall be entitled to
participate in all incentive, savings and retirement plans, practices, policies and programs maintained or sponsored by the Company from time to time for the benefit of its employees. You will be eligible for standard benefits, such as medical,
dental and vision insurance, sick leave, vacations and holidays to the extent applicable generally available to all Company 

 
employees. Details about these benefits are provided in an Employee Handbook and in Summary Plan Descriptions, which have been prepared by the Company and made available for your review. 

Compliance with Confidential Information Agreement and Company Policies 

As a condition of employment, you will be required to (i) sign and comply with a Proprietary Information and Invention Assignment
Agreement, a copy of which is attached hereto as Exhibit A, which, among other things, prohibits unauthorized use or disclosure of Company proprietary information, (ii) subject to the Company’s compliance with its obligations to
sponsor you for an appropriate work visa (and following receipt of such visa) sign and return a satisfactory I-9 Immigration form providing sufficient documentation establishing your employment eligibility in
the United States, and (iii) provide satisfactory proof of your identity as required by United States law. By signing below, you represent that your performance of services to the Company will not violate any duty which you may have to any
other person or entity (such as a present or former employer), including obligations concerning providing services (whether or not competitive) to others, confidentiality of proprietary information and assignment of inventions, ideas, patents or
copyrights, and you agree that you will not do anything in the performance of services hereunder that would violate any such duty. You will be expected to abide by the Company rules and regulations and acknowledge in writing that you have read the
Company’s Employee Handbook. 
 Change in Control Double Trigger Option Acceleration 

If, on or within twelve (12) months after a change of control (as defined below), your employment is terminated by the Company (or its
successor) other than for Cause (as defined below) or is terminated by you due to a resignation for Good Reason (as defined below), and such termination or resignation is not due to your death or disability, then all outstanding shares subject to
any stock options or other equity awards then held by you (including, but not limited to, the Option) shall vest in full effective as of immediately prior to your termination (the “Full Acceleration”). Notwithstanding the foregoing, as a
precondition of the Full Acceleration, you must deliver to the Company, within (30) days following your termination date, a signed and dated effective, general release of all known and unknown claims in the form provided to you by the Company.

 For the purposes of the above paragraph, the following definitions shall apply: 

(1)    Definition of Change of Control 

“Change in Control” shall have the same definition as Sections 2(a)(i) and 2(a)(iii) of the Equity Plan (which constitutes portions
of the definition of “Acquisition” under the Equity Plan). 

 (2)    Definition of Cause 

“Cause” for the Company (or any successor thereto) to terminate your employment shall exist if any of the following occurs:
(A) your conviction (including a guilty plea of nolo contendere) of any felony, or of any other crime involving fraud, dishonesty or moral turpitude; (B) your commission or attempted commission of or participation in a fraud act or act of
dishonesty against the Company; (C) your material violation of any writer and fully executed contract or agreement between you and the Company, including, without limitation, material breach of this agreement, or you Proprietary Information and
Inventions Agreement, or of any Company policy, or of any statutory duty you owe to the Company; or (D) your conduct that constitutes gross insubordination or habitual neglect of duties; provided, however, that the action or conduct described
in clause (C) above and this clause (D) will constitute “Cause” only if such action or conduct causes (or is reasonably expected to cause) harm to the Company and continues after the Board has provided you with written notice
thereof and thirty (30) days opportunity to cure the same (provided that the Board is not obligated to provide such written notice and opportunity to cure if the action or conduct is not reasonably susceptible to cure). The determination that a
termination is for Cause shall be made by the Board in good faith. 
 (3)    Definition of Good Reason 

For purposes of this Agreement, you shall have “Good Reason” for your resignation from your employment with the Company or its
successors for up to ninety (90) days following the occurrence of one of the following events without your written consent and after having provided thirty (30) days prior written notice and an opportunity to cure to the Company, and the
Company fails to cure the event within such thirty-day cure period: (A) material reduction in your duties (including responsibilities and/or authorities), provided, however, that a change in job position
(including a change in title) shall not be deemed a “material reduction” in and of itself unless your new duties are substantially reduced from prior duties; (B) relocation of your principal place of employment to a place that
increases your one-way commute by more than forty-five (45) miles as compared to your then current place of employment immediately prior to such relocation; or (C) a reduction of at least 10% of your
gross base salary (unless pursuant to a salary reduction program applicable generally to the Company’s executive employees). 

 Severance Benefits 

If, at any time after July 1, 2017, (a) your employment with the Company terminates due to termination without Cause by the Company (or
its successor) or you resign for Good Reason and (b) such termination is not due to your death or disability, then, upon your “separation from service” (as defined under Treasury Regulation
Section 1.409A-1(h)) (a “Separation from Service”), then you shall be entitled to receive the following as your sole severance benefits (the “Severance Benefits”): 

(1)    Severance Pay 

You shall be entitled to severance pay in the form of continuation of your base salary in effect on the effective date of termination for the
first three (3) months after the date of such termination. The severance shall be paid in substantially equal installments on the Company’s regular payroll schedule, subject to standard deductions and withholdings over the three
(3) month period following termination; provided, however, that no payments will be made prior to the thirtieth (30th) day following your termination (or on such later date that the Release
(as defined below) becomes effective). On the thirtieth (30th) day following your termination date, the Company will pay you the salary continuation payments that you would have received on or
prior to such date in a lump sum under the original schedule but for the thirty (30)-day delay while waiting for the effectiveness of the Release (as defined below), with the balance of the cash severance
being paid as originally scheduled. 
 (2)    Stock Option Vesting 

Any unvested stock options and other equity awards (if any) outstanding as of the termination date (including the Option, to the extent not
fully vested) will be subject to accelerated vesting, effective as of the termination date, with respect to an additional number of options that would have vested over a six month period (for example
6/48th of the total options for option grants with a four year vesting schedule). 

The Severance Benefits are conditional upon (a) your continuing to comply with your continuing obligations under your Proprietary
Information and Inventions Agreement; and b) your delivering to the Company, within thirty (30) days following your termination date, a signed and dated effective, general release of all known and unknown claims in the form provided to you by
the Company. For the avoidance of doubt, no Severance Benefits will be paid to you if your employment with the Company terminates for any reason whatsoever, including your resignation or termination by the Company with or without cause, on or before
July 1, 2017. 
 Notwithstanding anything to the contrary in this Agreement, no compensation or benefits, including without limitation
any Severance Benefits, shall be paid to you during the 6-month period following your Separation from Service to the extent that (i) you are a specified employee (within the meaning of Internal Revenue
Code Section 409A (together with the regulations and other guidance thereunder, “Section 409A”)) and (ii) the Company makes a good faith determination that paying such amounts at the time or times indicated in this Agreement
would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then the Company will pay you the cumulative amount that would have otherwise
been payable to you during such 6-month period in a lump sum on the first business day after such six-month period (or such earlier date upon which such amount can be
paid under Section 409A of the Code without resulting in a 

 
prohibited distribution). For purposes of Section 409A, any right to a series of installment payments pursuant to this Agreement, including without limitation any severance payments, will be
treated as a right to a series of separate payments. 
 At-will Employment Relationship and Dispute Resolution

 Notwithstanding any of the above, your employment with the Company is “at will”. This means you may terminate your
employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at any time and for any reason whatsoever, with or without cause or advance notice (but
subject to the severance provisions contained herein). This at-will employment relationship cannot be changed except in a writing signed by a Company officer or by a duly authorized member of the Board. To
ensure the rapid and economical resolution of disputes that may arise in connection with your employment, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, arising from or relating to the
enforcement, breach, performance, execution, or interpretation of this agreement, your employment, or the termination of your employment, shall be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration in
San Francisco, California conducted before a single arbitrator by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) or its successor, under the then applicable JAMS rules. By agreeing to this arbitration procedure, both you and
the Company waive the right to resolve any such dispute through a trial by jury or judge or by administrative proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award
such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision including the arbitrator’s essential findings and conclusions and a statement of the award. The Company shall pay all JAMS’ arbitration
fees. Nothing in this letter agreement shall prevent either you or the Company from obtaining injunctive relief in court if necessary to prevent irreparable harm pending the conclusion of any arbitration. 

The employment terms in this letter supersede any other agreements or promises made to you by anyone, whether oral or written, and comprise
the final, complete and exclusive agreement between you and the Company. As required by law, this offer is subject to satisfactory proof of your right to work in the United States. 

If you accept this offer, this Agreement (together with its Exhibits), the option agreement memorializing the Option and the Proprietary
Information and Invention Assignment Agreement, shall constitute the complete agreement between you and Company with respect to the terms and conditions of your employment. Any prior or contemporaneous representations (whether oral or written) not
contained in this letter or the Proprietary Information and Invention Assignment Agreement or contrary to those contained in this letter or the Proprietary Information and Invention Assignment Agreement, that may have been made to you are expressly
cancelled and superseded by this offer. Except as otherwise specified herein, the terms and conditions of your employment may not be changed, except in another letter or written agreement, signed by you and the Chief Executive Officer or other
responsible officer of the Company. 
 (signature page follows) 

 Please sign and date this letter, and return it to me by Friday December 23, 2016 if
wish to accept employment at the Company under the terms described above. If you accept our offer, we would like you to commence your employment with us by December 31, 2016. 

We look forward to your favorable reply and to a productive and enjoyable work relationship. 

 

			
	Sincerely,
	
	PRINCIPIA BIOPHARMA INC.
		
	By:	 	 /s/ Martin Babler

	Name:	 	Martin Babler, CEO

  

	
	Accepted by:
	
	 /s/ Stefani Wolff

	Stefani Wolff
	
	1-3-17
	Date

 Stefani Wolff 

PRINCIPIA BIOPHARMA INC. 

PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT 

In consideration of my employment by Principia Biopharma Inc. (the “Company”) (the definition of “Company”
for the purposes of this Agreement shall include the Company, its affiliates, and subsidiaries) and access to Proprietary Information (defined below) being given to me by the Company, I hereby agree to this Proprietary Information and Inventions
Agreement (“Agreement”) as follows: 
 1.    Proprietary Information. The term
“Proprietary Information” shall mean trade secrets, research, inventions, confidential knowledge, data or any other information or materials that the Company treats or considers as proprietary, whether or not such Proprietary
Information is patentable or copyrightable, however it is embodied and irrespective of whether it is labeled as “proprietary” or “confidential”. By way of illustration but not limitation, “Proprietary
Information” includes (a) inventions, trade secrets, know-how, ideas, confidential knowledge, chemical structures, compositions, pharmaceutical formulations, methods of administration and
synthesis, improvements, discoveries, developments, processes, designs, techniques, formulas, formulations, source and object codes, data, programs, other works of authorship; organisms, plasmids, cosmids, bacteriophages, expression vectors, cells,
cell lines, tissues, materials, substrates, media, delivery methods or transfection methods, assays, compounds, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto; crystals,
optically active materials, ceramics, metals, metal oxides, and organic and inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms (hereinafter the Proprietary Information found at paragraph 1(a)
shall collectively be referred to as “Inventions”); and (b) information regarding the Company’s plans for research, development, manufacturing, engineering, new products, marketing and selling, the Company’s business
plans, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and information regarding the skills and compensation of other employees of the Company. 

2.    Recognition of Company’s Rights; Nondisclosure. I acknowledge that as a result of my
responsibilities at the Company, I am likely to be exposed and given access to the Proprietary Information of the Company. I understand and agree that my access to the Proprietary Information is for the sole and exclusive purpose of producing
technology and performing other work for the benefit of the Company and that the Company has a substantial ongoing investment in the development of such Proprietary Information which would be injured irreparably if this Agreement were breached. At
all times during the term of my employment and thereafter, I will hold the Company’s Proprietary Information in the strictest confidence and will not, except with the written permission of the Chief Executive Officer of the Company, disclose
(which term throughout this Agreement includes, but is not limited to, lecturing upon or publishing) any such Proprietary Information to anyone other than Company personnel who need to know such information in connection with their work for the
Company or use such Proprietary Information except in connection with any work for the Company. 
 I further acknowledge that Proprietary
Information is solely the property of the Company and I agree that at no time either during the period of my employment nor thereafter will I challenge or engage in any other acts which question or impugn the validity or ownership of the
Company’s 

 
rights in any Proprietary Information. I further acknowledge that any and all improvements or modifications to Proprietary Information that I make, conceive, develop or reduce to practice or to
specific form, whether alone or in conjunction with others, either during or after the period of my employment with the Company shall constitute Proprietary Information. 

3.    Third Party Information. I understand, in addition, that the Company has received and in the future
will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain
limited purposes. During the term of my employment and thereafter, I will hold all Third Party Information in the strictest confidence and will not disclose (to anyone other than Company personnel who need to know such information in connection with
their work for the Company) or use, except in connection with my work for the Company, any Third Party Information unless expressly authorized by an officer of the Company in writing. 

4.    Assignment of Inventions. 

(a)    Except as provided below in paragraph 4(b) of this Agreement, I hereby assign to the Company all my right, title and
interest in and to any and all Inventions whether or not patentable or registrable under copyright or similar statutes, that I make or conceive or reduce to practice or reduce to specific form or learn, either alone or jointly with others, in the
course of my employment by the Company, whether developed in whole or in part using the company’s equipment, supplies, facilities, trade secret information or Proprietary Information; or relating at the time of conception or reduction to
practice to the Company’s business, or actual or demonstrably anticipated research or development of the Company; or resulting from any work performed by me for the Company (collectively, the “Employment Inventions”). I
recognize that this Agreement does not require assignment of any invention which qualifies fully for protection under Section2870 of the California Labor Code (hereinafter “Section 2870”), which provides as
follows: 
 (i)    Any provision in an employment agreement which provides that an employee shall assign, or offer to
assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret
information except for those inventions that either: 
 (1)    relate at the time of conception or reduction to
practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 

(2)    result from any work performed by the employee for the employer. 

(ii)    To the extent a provision in an employment agreement purports to require an employee to assign an invention
otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 

(b)    I have set forth on Exhibit A attached hereto, a complete list of all restrictions, express or implied,
which would prevent me from complying with all of the requirements of paragraph 4(a) of this Agreement in whole or in part. If full disclosure of such restrictions, express or implied, in Exhibit A would cause me to violate any prior
confidentiality 

  
 2 

 
agreement, I understand that I am to describe such restrictions in Exhibit A at the most specific level possible without violating any such restrictions. Exhibit A is incorporated
into this Agreement by reference as if fully set forth herein. I will promptly inform the Company in writing of any such restrictions that arise between the time I sign this Agreement and the time my employment with the Company commences. 

(c)    I also assign to or assign as directed by the Company all my right, title and interest in and to all Employment
Inventions, full title to which is required to be in the United States by a contract between the Company and the United States or any of its agencies. 

(d)    I acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the
scope of my employment and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act (17 U.S.C., Section 101). 

5.    Enforcement of Proprietary Rights. To assist the Company in exercising its ownership rights to all
Proprietary Information or Employment Inventions that I make, conceive, reduce to practice or to specific form, alter or modify, I will, if requested by the Company, execute, verify and deliver assignments of all rights in the United States and
elsewhere, including but not limited to patent and copyright rights, in such Proprietary Information or Employment Inventions to the Company or its designees. I will also assist the Company in every proper way to obtain and from time to time enforce
its United States and foreign rights relating to Proprietary Information or Employment Inventions in any and all countries, irrespective of whether I had any role in the development or modification of such Proprietary Information or Employment
Inventions. To that end, I will execute, verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining
and enforcing such proprietary rights and the assignment thereof to the Company. My obligation to assist the Company with respect to all its rights in Proprietary Information or Employment Inventions in any and all countries shall continue beyond
the termination of my employment, but the Company shall compensate me at a reasonable rate after my termination for the time actually spent by me at the Company’s request on such assistance. 

In the event the Company is unable for any reason, after good faith and all reasonable effort, to secure my signature on any document needed
in connection with the actions specified in this Section 5, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf to execute, verify and
file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph thereon with the same legal force and effect as if executed by me. I hereby waive and quitclaim to the Company any and all claims,
of any nature whatsoever, which I now or may hereafter have for infringement of any proprietary rights assigned hereunder to the Company. 

6.    Obligation to Keep Company Informed. I will promptly disclose to the Company fully and in writing and
will hold in trust for the sole right and benefit of the Company any and all Employment Inventions that I make, conceive, develop or reduce to practice or to specific form, whether alone or in conjunction with others, during or after the period of
my employment with the Company. In addition, after any termination of my employment, I will promptly disclose to the Company fully and in writing, the full particulars of all patent applications filed by me which disclose or claim Proprietary
Information or Employment Inventions. 

  
 3 

 I will also promptly disclose to the Company fully and in writing any inventions containing
or disclosing Proprietary Information that I believe fully qualify for protection under Section 2870; and I will at that time provide to the Company in writing all evidence necessary to substantiate that belief. I understand that the Company
will keep in confidence and will not disclose to third parties without my consent any proprietary information disclosed in writing to the Company pursuant to this Agreement relating to Inventions that qualify fully for protection under the
provisions of Section 2870. I will preserve the confidentiality of any Employment Invention that does not fully qualify for protection under Section 2870. 

7.    Prior Inventions. The term “Prior Inventions” shall mean any and all trade secrets, know-how, ideas, confidential knowledge, chemical structures, compositions, pharmaceutical formulations, methods of administration and synthesis, improvements, discoveries, developments, processes, designs,
techniques, formulas, formulations, source and object codes, data, programs, other works of authorship; organisms, plasmids, cosmids, bacteriophages, expression vectors, cells, cell lines, tissues, materials, substrates, media, delivery methods or
transfection methods, assays, compounds, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto; crystals, optically active materials, ceramics, metals, metal oxides, and organic and
inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms, which I have, alone or jointly with others, conceived, developed or reduced to practice or caused to be conceived, developed or reduced to
practice prior to the commencement of my employment with the Company. To preclude any possible uncertainty over what is a Prior Invention, I have set forth on Exhibit B attached hereto a complete list of all Prior Inventions that I consider
to be in whole or part my property or the property of third parties, and that I wish to have excluded from the scope of this Agreement. If full disclosure of any such Prior Invention on Exhibit B would cause me to violate any prior
confidentiality agreement, I understand that I am to describe such Prior Inventions in Exhibit B at the most specific level possible without violating any such prior confidentiality agreements. Exhibit B is incorporated into this
Agreement as if fully set forth herein. I will promptly inform the Company in writing of any Prior Inventions that occur between the time I sign this Agreement and the time my employment with the Company commences. 

8.    Unauthorized Use or Disclosure. I shall immediately notify my supervisor or any officer of the Company
if I learn of any possible unauthorized use or disclosure of Proprietary Information and shall cooperate fully with the Company to enforce the provisions of this Agreement. 

9.    Authorized Disclosure. Should I be subject to any governmental, administrative or court order or
action purporting to require or authorize the disclosure of any Proprietary Information, in whole or in part, I will immediately notify the Company’s legal department and will immediately provide the Company with all documents and other
pertinent information in my possession or control to permit the Company to take such steps as it deems necessary in its sole discretion to block or pursue the confidentiality of such disclosure. 

  
 4 

 10.    Additional Activities. I agree that during the
period of my employment by the Company I will not, without the Company’s express written consent, engage in any employment or business activity other than for the Company, except as may be provided in any written agreement between me and an
authorized officer of the Company with the Company executed as of the same date, and for the period of my employment by the Company and for one (1) year after the date of termination of my employment by the Company I will not use any
Proprietary Information in order to (i) induce any employee of the Company to leave the employ of the Company or (ii) solicit the business of any client or customer of the Company (other than on behalf of the Company) with whom I had
contact during the course of my employment with the Company. 
 11.    No Improper Use of Materials. I
acknowledge that the Company forbids me to use or disclose any information that is proprietary to any competitor of the Company or to any other third party. Therefore, during my employment by the Company, I will not use or disclose any confidential
information or trade secrets, if any, of any former employer or any other person to whom I have an obligation of confidentiality and I will not bring onto the premises of the Company any unpublished documents or any property belonging to any former
employer or any other person to whom I have an obligation of confidentiality unless consented to in writing by that former employer or person. To preclude any possible uncertainty, I have set forth on Exhibit C attached hereto, a complete
list of all devices, materials, and documents of a former employer or other person or institution to whom I have an obligation of confidentiality that may be used in providing services to the Company pursuant to the express written authorization of
my former employer or such other person. I will promptly notify the Company in writing of any devices, materials, and documents that are called for in Exhibit C that arise between the time I sign this Agreement and the time my employment with
the Company commences. Exhibit C is incorporated into this Agreement by reference as if fully set forth herein. In addition, I will not seek nor knowingly use any information from job applicants, Company employees or other third parties,
including but not limited to vendors, that is confidential to the present or former employers of such applicants or former employers of the employees or to such third parties. 

12.    No Conflicting Obligation. I represent that my performance of all the terms of this Agreement and as
an employee of the Company does not and will not breach any agreement to keep in confidence information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any
agreement either written or oral in conflict herewith. 
 13.    Return of Company Materials. When I leave
the employ of the Company, I will deliver to the Company any and all copies and originals of drawings, notes, memoranda, lab notebooks, specifications, correspondence (including email and quickmail messages), devices, equipment, formulas, documents,
molecules, cells, organisms, plasmids, cosmids, bacteriophages, expression vectors, cell lines, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto; crystals, optically active
materials, ceramics, metals, metal oxides, and organic and inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms and any other material containing or disclosing any Inventions, Employment
Inventions, Proprietary Information or Third Party Information. I further agree that any property situated on the Company’s premises and owned by the Company, including disks and other storage media, quickmail, email, voicemail, filing cabinets
or other work areas, is subject to inspection by Company personnel at any time with or without notice. Prior to leaving, I will reasonably cooperate with the Company in completing and signing the Company’s documentation for separating staff
members. 

  
 5 

 14.    Name and License. I hereby grant to the Company a non-exclusive worldwide license to use my name and likeness on or in connection with any advertising and promotional materials distributed by or on behalf of the Company in any medium while serving as an employee or
director of the Company or thereafter, if such materials describe my prior role as employee or director of the Company or thereafter, if such material describes my prior role as an employee or director of the Company. 

15.    Potential Liability. I have been informed and acknowledge that the unauthorized taking of the
Company’s trade secrets (a) could result in civil liability under California Civil Code Section 3426, and that, if willful, could result in an award for triple the amount of the Company’s damages and attorneys’ fees; and
(b) is a crime under California Penal Code Section 499c(c), punishable by imprisonment for a time not exceeding one year, or by a fine not exceeding five thousand dollars ($5,000), or by both. 

16.    Legal and Equitable Remedies. Because my services are personal and unique and because I may have
access to and become acquainted with the Proprietary Information of the Company, and due to the irreparable injury which would be suffered by the Company as a result of a breach of this Agreement, the Company shall have the right to enforce this
Agreement and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies that the Company may have for a breach of this Agreement. 

17.    Notices. Any notices required or permitted hereunder shall be given to the appropriate party at the
address specified below or at such other address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery to the appropriate address or if sent by certified or registered mail, three days after the date of
mailing. 
 18.    Employment at Will. I understand and agree that my employment with the Company is at-will. Therefore, my employment can terminate, with or without cause, and with or without notice, at any time, at my option or the Company’s option, and that the Company can terminate or change all other
terms and conditions of my employment, with or without cause, and with or without notice, at any time. I understand that the nature of my employment relationship with the Company will be governed by this paragraph and that this paragraph constitutes
the entire agreement, arrangement, and understanding between me and the Company on this subject matter and supersedes any prior or contemporaneous agreement, arrangement, and understanding on this subject matter. This
at-will relationship will remain in effect throughout my employment with the Company or any of its subsidiaries or affiliates, unless it is modified by a written agreement signed by both the Company’s
President and me which expressly alters it. This at-will relationship may not be modified by any oral or implied agreement, or by any Company policies, practices or patterns or conduct. 

19.    General Provisions. 

(a)    Governing Law and Forum. This Agreement will be governed by and construed according to the substantive laws of the
State of California without resort to conflict of law principles and I hereby consent to the jurisdiction of the courts of California, both state and federal, for any claim sounding in tort or contract or created by state or federal law related in
any way to my or the Company’s rights and obligations under the Agreement. 

  
 6 

 (b)    Entire Agreement. This Agreement, including all
exhibits hereto, is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior discussions between us. No modification of or amendment to this Agreement, nor any waiver of
any rights under this Agreement, will be effective unless in writing signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. As used in this
Agreement, the period of my employment includes any time during which I may be retained by the Company as a consultant. 

(c)    Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. 
 (d)    Assignment. This Agreement may not be assigned by
me but is fully assignable by the Company. 
 (e)    Successors and Assigns. This Agreement will be
binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 

(f)    Survival. The provisions of this Agreement shall survive the termination of my employment and the
assignment of this Agreement by the Company to any successor in interest or other assignee. 

(g)    Waiver. No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding
or succeeding breach. No waiver by the Company of any right under this Agreement shall be construed as a waiver of any other right. The Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement. 

(h)    Effective Date. Agreement shall be effective as of the earliest of (1) the first day of my
employment by the Company; or (2) the first day of my use of, the facilities, technology, expertise, data, or Proprietary Information of the Company; or (3) the day I sign this Agreement. 

  
 7 

 (i)    Descriptive Headings. The descriptive headings of
this Agreement are for convenience only, and shall be of no force or effect in construing or interpreting any of the provisions of this Agreement. 

I UNDERSTAND THAT THIS AGREEMENT AFFECTS MY RIGHTS TO INVENTIONS I MIGHT HAVE MADE DURING MY PAST EMPLOYMENT. AND MAKE DURING MY EMPLOYMENT,
AND RESTRICTS MY RIGHT TO DISCLOSE OR USE THE COMPANY’S PROPRIETARY INFORMATION DURING OR SUBSEQUENT TO MY EMPLOYMENT. 
 I HAVE READ
THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS. I HAVE COMPLETELY FILLED OUT EXHIBITS A, B. AND C AND SIGNED AND DATED ALL EXHIBITS TO THIS AGREEMENT. 

IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year first set forth above. 

 

							
	COMPANY:	  		  		  	EMPLOYEE:
	 PRINCIPIA BIOPHARMA INC.

a Delaware corporation
	  		  	
				
	By:	  	 /s/ Martin Babler
	  		  	 /s/ Stefani Wolff

	Name:	  	Martin Babler	  		  	Name: Stefani Wolff
	Title:	  	CEO	  		  	
	Address:	  	400 East Jamie Court. Ste 302	  		  	Address:
	 	  	South San Francisco CA 94080	  	 	  	 

 EXHIBIT A 

Principia Biopharma Inc.. 
 400 East Jamie Court Suite 302 

South San Francisco, CA 94080 
 Attention: Board of Directors

 Directors: 
 The following is a complete list of all
restrictions which would prevent me. in whole or in part. from assigning- to or as directed by the Company (as defined in the attached Agreement) all my right, title and interest in and to any and all Employment Inventions (as required by
paragraph 4 of the Agreement): 
  

					
		 	☒	  	No restrictions.
			
		 	☐	  	Restrictions:
			
		 		  	  

			
		 		  	  

			
		 	☐	  	Number of additional sheets attached.

 Date: 12/31/16 
  

	
	Very truly yours,
	
	 Stefani Wolff

	Print Name
	
	 /s/ Stefani Wolff

	Signature

 EXHIBIT B 

Principia Biopharma Inc.. 
 400 East Jamie Court Suite 302 

South San Francisco, CA 94080 
 Attention: Board of Directors

 Directors: 
 The following is a complete list of all Prior
Inventions (as defined in the attached Agreement): 
  

					
		 	☒	  	No Prior Inventions
			
		 	☐	  	Prior Inventions:
			
		 		  	  

			
		 		  	  

			
		 	☐	  	Number of additional sheets attached.

 Date: 12/31/16 
  

	
	Very truly yours,
	
	 Stefani Wolff

	Print Name
	
	 /s/ Stefani Wolff

	Signature

 EXHIBIT C 

Principia Biopharma Inc.. 
 250 Golden Hills Drive 

Portola Valley, CA 94028 
 Attention: Board of Directors 

Directors: 
 I propose to bring or have already brought to my
employment with the Company (as defined in the attached Agreement) the following devices. materials and documents of my former employer(s) or other person(s) or institution(s) to whom I have an obligation of confidentiality that are not generally
available to the public, which materials and documents may be used in providing services to the Company pursuant to the express written authorization of my former employer(s) or such other person(s) or institution(s) (copies of all such
authorizations are attached hereto): 
  

					
		 	☒	  	No materials.
			
		 	☐	  	Materials:
			
		 		  	  

			
		 		  	  

			
		 	☐	  	Number of additional sheets attached.
			
		 	☐	  	Number of pages of authorizations attached.

 Date: 12/31/16 
  

	
	Very truly yours,
	
	 Stefani Wolff

	Print Name
	
	 /s/ Stefani WolffEX-10.19

 Exhibit 10.19 

Principia Biopharma Inc. 
 Suite 302 

400 East Jamie Court 
 South San Francisco, CA 94080 

July 16, 2018 
 Steve Gourlay 

Re: Terms of Employment 
 Dear Steve: 

This letter sets forth the terms of your employment with Principia Biopharma Inc., a Delaware corporation (the “Company”) from the
date of your signature below (the “Effective Date”) through the earlier of (a) June 30, 2019, or (b) your first day of employment with another employer (the “Term”). This letter supersedes and replaces in its
entirety your Offer of Employment dated July 30, 2014 (the “Offer Letter”), a copy of which is attached as Exhibit A. All terms not otherwise defined in this letter have the definitions assigned to them in the Offer Letter. The
Company is pleased to retain you in the position of Chief Medical Officer (or “CMO”), on the terms described below. In the event your employment continues beyond the Term by mutual consent in the absence of any further fully executed
written agreement between you and the Company, the terms of this letter agreement will continue to apply, provided that: (a) your continuing employment with the Company will be at-will, meaning that
either you or the Company may terminate the employment relationship at any time, with or without Cause, and with or without advance notice; and (b) severance benefits equal to those in the Offer Letter will apply. 

Employment and Duties 
 In your position
as Chief Medical Officer, you will be responsible for all clinical science aspects of the Company’s programs. This includes but is not limited to developing and maintaining relationships with scientists, physicians and other key opinion leaders
related to the Company’s clinical programs, and contributing to the Company as a senior leader of the business. You will also be asked to perform other duties determined by or in collaboration with the Chief Executive Officer of the Company
(the “CEO”). You will report to the CEO, Martin Babler, and will principally work from our facility located in South San Francisco. This is a full time position. Subject to your right to receive severance upon a resignation for Good Reason
(as defined herein), the Company may change your position, duties, work location, or reporting structure from time to time in its discretion. 

  
 1 

 
Other than: (a) for Cause (as defined below), or (b) following a Change in Control (as defined below), the Company will not terminate your employment prior to the end of the Term. 

Base Salary, Retention Bonus and Annual Bonus 

Salary:  
 You will be paid
a base salary at the annual rate of $400,000.00, or higher amount based on the upcoming “Radford review”, less standard payroll deductions and all required withholdings. Your salary will be paid in installments twice per month and
otherwise in accordance with the Company’s standard payroll policies. 
 Retention Bonus for 2018:  

In addition to your salary, if you remain employed by the Company from the Effective Date through December 31, 2018 (including during the
Advisory Period, as provided below), you will receive a retention bonus of $100,000 payable on January 1, 2019. 
 Annual Bonus:

 In addition to your salary and retention bonus, you will be eligible to earn an annual cash bonus for calendar year 2018 (the “Annual
Bonus”) in accordance with the Company’s bonus guidelines. Whether you receive the Annual Bonus, and the amount of such Annual Bonus, shall be determined by the Company’s Board of Directors (the “Board”) in its sole
discretion based upon the Company’s performance and your individual attainment of agreed upon performance objectives, as well as such other criteria that the Board deems relevant. If you are otherwise entitled to the Annual Bonus according to
the Company’s bonus guidelines, and you resign for Good Reason (as defined below) at any time prior to the day 2018 bonuses are paid, then you will receive the Annual Bonus (prorated to the duration of your employment in calendar year 2018) on
the day, no later than March 15, 2019, that the Company pays its 2018 bonuses. 
 Relocation 

The Company acknowledges that the Post-Relocation Payment Period has concluded, and that you have no further obligation to repay the Company
for relocation assistance previously paid to you, as described in the Offer Letter. 
 Stock Options 

You acknowledge that the Company has made grants of options to you to purchase a total of 1,442,400 shares of common stock of the Company (the
“Options”), which the Company acknowledges and agrees constitutes approximately 1.05% of the Company’s fully diluted equity as of Effective Date. The Options are listed on the spreadsheet attached as Exhibit B. The Options are subject
to the terms and conditions 

  
 2 

 
of the Company’s 2008 Equity Incentive Plan and the governing stock option agreements. Except as otherwise provided in the Severance Benefits section below, continued vesting of the Options
is subject to your continuous employment by the Company through the applicable vesting date. If you remain employed as Chief Medical Officer on the date that other C-level officers of the Company are granted
additional options related to successful financings or comparable events, you will also be entitled to receive an additional grant of options on such date commensurate with your position as Chief Medical Officer. 

Employee Benefits 
 You will be entitled
to the Company’s basic employment benefits generally available to all Company employees, subject to the terms and conditions of such plans. You will be entitled to participate in all incentive, savings and retirement plans, practices, policies
and programs maintained or sponsored by the Company from time to time for the benefit of its employees, subject to the terms and conditions of the applicable plans. You will be eligible for standard benefits, such as medical, dental and vision
insurance, sick leave, vacations and holidays to the extent applicable generally available to all Company employees. Details about these benefits are provided in an Employee Handbook and in Summary Plan Descriptions, which have been prepared by the
Company and made available for your review. The Company reserves the right to change the terms of its programs and plans at any time. 
 Compliance with
Confidential Information Agreement and Company Policies 
 You will continue to be bound by the terms of your Proprietary Information and
Invention Assignment Agreement, a copy of which is attached as Exhibit C. You continue to represent that your performance of services to the Company does not violate any duty which you may have to any other person or entity (such as a present or
former employer), including obligations concerning providing services (whether or not competitive) to others, confidentiality of proprietary information and assignment of inventions, ideas, patents or copyrights, and you agree that you will not do
anything in the performance of services hereunder that would violate any such duty. You will be expected to abide by the Company rules and regulations and acknowledge in writing that you have read the Company’s Employee Handbook. 

Change in Control Double Trigger Option Acceleration 

If, on or within twelve (12) months after a Change in Control (as defined below), your employment is terminated by the Company (or its
successor) other than for Cause (as defined below) or by you due to a resignation for Good Reason (as defined below), and such termination or resignation is not due to your death or disability, then all outstanding shares subject to any stock
options or other equity awards then held by you (including, but not limited to, the Option) shall vest in full effective as of immediately prior to your termination (the “Full Acceleration”). Notwithstanding the foregoing, as a
precondition of the Full Acceleration, you must deliver to the Company, within (30) days 

  
 3 

 (or any later period required by law) following your termination date a signed and dated effective, general
release of all known and unknown claims in the form provided to you by the Company (the “Release”). 
 For the purposes of the above paragraph,
the following definitions shall apply: 
 (1)    Definition of Change in Control 

“Change in Control” shall have the same definition as Sections 2(a)(i) and 2(a)(iii) of the Plan (which constitutes portions of the
definition of “Acquisition” under the Plan). 
 (2)    Definition of Cause 

“Cause” for the Company (or any successor thereto) to terminate your employment shall exist if any of the following occurs:
(A) any willful, material violation of any law or regulation applicable to the business of the Company by you, (B) your conviction (including a guilty plea of nolo contendere) of any felony, or of any other crime involving fraud,
dishonesty or moral turpitude; (C) your commission or attempted commission of or participation in a fraud act or act of dishonesty against the Company; (D) your material violation of any written and fully executed contract or agreement
between you and the Company, including, without limitation, material breach of this letter agreement, or your Proprietary Information and Invention Assignment Agreement, or of any Company policy, or of any statutory duty you owe to the Company;
(E) your conduct that constitutes gross insubordination or habitual neglect of duties or refusal to perform any duty reasonably requested of you by the CEO or the Board (other than as a result of having a disability that prevents you from
performing the material duties required of a person holding your position with the Company for a period of at least 120 days) or (F) any other misconduct by you that is materially injurious to the financial condition or business reputation of,
or is otherwise materially injurious to, the Company; provided, however, that the action or conduct described in clauses (D), (E) and (F) above will constitute “Cause” only if such action or conduct continues after the Board has
provided you with written notice thereof and thirty (30) days opportunity to cure the same (provided that the Board is not obligated to provide such written notice and opportunity to cure if the action or conduct is not reasonably susceptible
to cure). The determination that a termination is for Cause shall be made by the Board in good faith. 

(3)    Definition of Good Reason 

For purposes of this letter agreement, you shall have “Good Reason” for your resignation from your employment with the Company or its
successors for up to ninety (90) days following the occurrence of one of the following events without your written consent and after having provided thirty (30) days prior written notice and an opportunity to cure to the Company, and the
Company fails to cure the event within such thirty (30)-day cure period: (A) material reduction in your duties 

  
 4 

 (including responsibilities and/or authorities), provided, however, that a change in job
position (including a change in title) shall not be deemed a “material reduction” in and of itself unless your new duties are substantially reduced from prior duties, and other than any changes purely attributable to the integration of the
business and operations of the Company into the business and operations of an acquirer in connection with a Change in Control; (B) relocation of your principal place of employment to a place that increases your
one-way commute by more than forty-five (45) miles as compared to your then current place of employment immediately prior to such relocation; or (C) a reduction of at least 10% of your gross base
salary (unless pursuant to a salary reduction program applicable generally to the Company’s executive employees). Notwithstanding (A) above, the Company acknowledges you will have Good Reason to resign in the event of a change in your
title from Chief Medical Officer to any lesser title at any time during the Term, and the 30-day written notice period from you to the Company described above may include days after expiration of the Term.

 Severance Benefits; Advisory Period with Benefits 

Severance Benefits 
 If you
resign for Good Reason at any time before June 30, 2019, and such resignation is not due to your death or disability, then, upon your “separation from service” (as defined under Treasury Regulation
Section 1.409A-1(h)) (a “Separation from Service”), you shall be entitled to receive the following as your sole severance benefits (the “Severance Benefits”): 

(1)    Severance Pay 

You shall be entitled to severance pay in the form of continuation of your base salary in effect on the effective date of termination for a
period of the longer of (a) June 30, 2019 or (b) six (6) months from such date. The severance shall be paid in substantially equal installments on the Company’s regular payroll schedule, subject to standard deductions and
withholdings; provided, however, that no payments will be made prior to (a) the thirtieth (30th) day following your termination or (b) such later date that the Release becomes effective. On the effective date of the Release, the Company
will pay you the salary continuation payments that you would have received on or prior to such date in a lump sum under the original schedule but for the delay while waiting for the effectiveness of the Release, with the balance of the cash
severance being paid as originally scheduled. 
 (2)    Stock Option Vesting 

Any unvested stock options and other equity awards (if any) outstanding as of the termination date (including the Option, to the extent not
fully vested) will be subject to accelerated vesting, effective as of your termination date, solely with respect to an additional number of options that would have vested between such termination date and the longer of (a) June 30, 2019 or
(b) six (6) months after such date 

  
 5 

 
according to the applicable vesting schedule. Subject to any required Board approval: (a) the total Options available for exercise includes the pro rata amount of any options subject to a
one year vesting “cliff” as if they had vested monthly from the date of grant; and (b) the period available for option exercise of all unexercised options will be one year from the termination date. 

(3)    Health Benefits 

The Company will reimburse you for the share of premiums for continuation of medical and dental benefits under COBRA that are paid by the
Company for active and similarly-situated employees who receive the same type of coverage, assuming you elect and are eligible for such coverage, for a period from the termination date to the longer of (a) June 30, 2019 or (b) six (6)
months from the effective date of your termination (provided that any such reimbursement shall cease upon you becoming eligible for coverage under a subsequent employer’s plans). 

Notwithstanding anything to the contrary in this letter agreement, no compensation or benefits, including without limitation any Severance
Benefits, shall be paid to you during the 6-month period following your Separation from Service to the extent that (i) you are a specified employee (within the meaning of Internal Revenue Code
Section 409A (together with the regulations and other guidance thereunder, “Section 409A”)) and (ii) the Company makes a good faith determination that paying such amounts at the time or times indicated in this letter
agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then the Company will pay you the cumulative amount that would have
otherwise been payable to you during such 6-month period in a lump sum on the first business day after such six-month period (or such earlier date upon which such amount
can be paid under Section 409A of the Code without resulting in a prohibited distribution). For purposes of Section 409A, any right to a series of installment payments pursuant to this letter agreement, including without limitation any
severance payments, will be treated as a right to a series of separate payments. 
 The Severance Benefits are conditional upon:
(x) your continuing to comply with your continuing obligations under your Proprietary Information and Invention Assignment Agreement; and (y) your delivering a Release to the Company, within thirty (30) days (or any later period
required by law) following your termination date. 
 Advisory Period  

The Company may, at any time during the Term and for any reason (or no reason), elect to change your position with the Company from Chief
Medical Officer to a Senior Advisor for the duration of the Term (the “Advisory Period”). During the Advisory Period, you will continue to receive all base salary and, so long as you remain eligible, all benefits in place as of the date
the Advisory Period begins through the end of the Term, provided that you comply in full with all terms of this Agreement. You will generally not be expected to come to the Company’s premises, but will make yourself available to provide such

  
 6 

 
services as may be required by the Company, including but not limited to steps it reasonably requests in order to effect a successful transition. In the event that you are no longer eligible to
receive health care benefits during the Advisory Period, the Company will pay the costs of your continued coverage under COBRA; otherwise, your rights under COBRA will commence upon the expiration of the Term. 

Termination; Dispute Resolution 

Notwithstanding any other provision of this Agreement, the Company may terminate this Agreement and your employment at any time: (a) for
Cause, with no further financial obligation to you; or (b) in connection with a Change of Control, subject only to the Full Acceleration. In addition, you may terminate your employment with the Company at any time and for any reason whatsoever
simply by notifying the Company. 
 To ensure the rapid and economical resolution of disputes that may arise in connection with your
employment, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, arising from or relating to the enforcement, breach, performance, execution, or interpretation of this letter agreement, your employment,
or the termination of your employment, shall be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration in San Francisco, California conducted before a single arbitrator by Judicial Arbitration and Mediation
Services, Inc. (“JAMS”) or its successor, under the then applicable JAMS rules. By agreeing to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury or judge or by
administrative proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (b) issue a written arbitration
decision including the arbitrator’s essential findings and conclusions and a statement of the award. The Company shall pay all JAMS’ arbitration fees. Nothing in this letter agreement shall prevent either you or the Company from obtaining
injunctive relief in court if necessary to prevent irreparable harm pending the conclusion of any arbitration. 
 All forms of compensation
referred to in this letter agreement are subject to applicable withholding and payroll taxes. 
 This letter agreement (together with its
Exhibits), your option agreements and the Proprietary Information and Invention Assignment Agreement, shall constitute the complete agreement between you and Company with respect to the terms and conditions of your employment. Any prior or
contemporaneous representations (whether oral or written) not contained in this letter or the Proprietary Information and Invention Assignment Agreement or contrary to those contained in this letter or the Proprietary Information and Invention
Assignment Agreement, that may have been made to you are expressly cancelled and superseded by this offer. Except as otherwise specified herein, the terms and conditions of your employment may not be changed, except in another letter or written
agreement, signed by you and the Chief Executive Officer. 

  
 7 

 Steve, we look forward to continuing to work with you. 

 

			
	 Sincerely,
  

PRINCIPIA BIOPHARMA INC.

 

	By:	 	 /s/ Martin Babler

	Name:	 	Martin Babler
	Title:	 	CEO

 Accepted by: 
  

	
	 /s/ Steve Gourlay

	Steve Gourlay
	
	20 JULY 2018
	Date

 Exhibit A 

[July 30th 2014 Offer Letter] 

 Principia Biopharma, Inc. 

Suite 302 
 400 East Jamie Court 

South San Francisco, CA 94080 
 July 30th, 2014

 Steve Gourley 
 Re: Offer of Employment 

Dear Steve: 
 Principia Biopharma Inc., a
Delaware corporation (the “Company”). is pleased to offer you the position of Chief Medical Officer, on the following terms: 
 Employment and
Duties 
 In your position as Chief Medical Officer, you will be responsible for all clinical development aspects of the Company’s
programs. This includes but is not limited to leading and running the Company’s Clinical department, designing and implementing the_development plans for the Company’s programs and contributing to the Company as a senior leader of the
business. You will also be asked to perform other duties determined by or in collaboration with the Chief Executive Officer of the Company (the “CEO”). You will report to the CEO, Martin Babler, and will principally work from our facility
located in South San Francisco. Subject to your right to receive severance upon a resignation for Good Reason (as defined herein), the Company may change your position, duties, work location or reporting structure from time to time in its
discretion. This is a full time position. 
 Base Salary and Annual Bonus 

You will be paid a starting base salary at the annual rate of $330,000.00 less standard payroll deductions and all required withholdings. Your
salary will be paid in installments twice per month and otherwise in accordance with the Company’s standard payroll policies. 

 In addition to your salary, each year you will be eligible to earn an annual cash bonus (the
“Annual Bonus”) in accordance with the Company’s bonus guidelines. Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, shall be determined by the Company’s Board of Directors (the
“Board”) in its sole discretion based upon the Company’s performance and your individual attainment of agreed upon performance objectives during the applicable year, as well as such other criteria that the Board deems relevant.
Performance objectives are expected to be set no later than ninety (90) days after the start of the relevant year. Any Annual Bonus awarded by the Board shall be paid no later than March 15th of the year following the applicable bonus year. You
are only eligible to earn an Annual Bonus if you are employed by the Company on the day any such Annual Bonus is paid. Therefore, in the event you leave the Company’s employment for any reason prior to the date any Annual Bonus is paid, you
will not have earned, and will not receive, any such Annual Bonus (including a prorated amount). 
 Relocation 

To assist you with moving and relocation expenses to the San Francisco BayAre, the Company will reimburse you for up to $40,000 AUD in moving
related expenses and $12,000 for your temporary housing expenses. Principia will gross up your temporary housing expenses and will pay this with your first regular payroll period. These amounts will be payable upon submission of expense reports
detailing the costs incurred for moving and temporary housing. 
 In the event that you are terminated for Cause (as defined below) or you
resign voluntarily within the twelve (12) month period after your receipt of your Relocation Payment (the “Post-Relocation Payment Period”), you shall be obligated to immediately repay a prorated portion of the Relocation Payment to
the Company, which shall be prorated depending upon the number of full months of employment with the Company that you have completed upon the termination of your employment out of the total of twelve (12) months in the Post-Relocation Payment
Period. 
 Stock Options 
 As an
additional incentive to join the Company, subject to and contingent upon approval by the Board, you will be eligible to be granted an unvested stock option to purchase 820,400 (eight hundred twenty thousand, four hundred) shares of common stock of
the Company (which the Company acknowledges and agrees constitutes approximately 1.05% of the Company’s fully diluted equity as of the date hereof) pursuant to the Company’s 2008 Equity Incentive Plan (the “Plan”), at a per share
exercise price equal to the fair market value of the Company’s common stock on the date of grant (the “Option”). The Option will be an incentive stock option (“ISO”) to the extent permitted by law. The vesting commencement
date (the “VCD”) shall be February, 25, 2014. The Option shall vest and become exercisable as to twenty-five 

  
 11 

 
percent (25%) of the Shares subject to the Option on the first anniversary of the VCD, and as to 1/48th of the Shares subject to the Option in
equal monthly installments thereafter on each monthly anniversary thereafter, with such vesting subject to your continuous employment by the Company through the applicable vesting date. The Option shall be subject to the terms and conditions of the
Plan and the Company’s standard form of stock option agreement. 
 Employee Benefits 

You shall be entitled to the Company’s basic employment benefits generally available to all Company employees. You shall be entitled to
participate in all incentive, savings and retirement plans, practices, policies and programs maintained or sponsored by the Company from time to time for the benefit of its employees, subject to the terms and conditions of the applicable plans. You
will be eligible for standard benefits, such as medical, dental and vision insurance, sick leave, vacations and holidays to the extent applicable generally available to all Company employees. Details about these benefits are provided in an Employee
Handbook and in Summary Plan Descriptions, which have been prepared by the Company and made available for your review. The Company reserves the right to change the terms of its programs and plans at any time. 

Compliance with Confidential Information Agreement and Company Policies 

As a condition of employment, you will be required to (i) sign and comply with a Proprietary Information and Invention Assignment
Agreement, a copy of which is attached hereto as Exhibit A, which, among other things, prohibits unauthorized use or disclosure of Company proprietary information, (ii) sign and return a satisfactory
I-9 Immigration form providing sufficient documentation establishing your employment eligibility in the United States, and (iii) provide satisfactory proof of your identity as required by United States
law. By signing below, you represent that your performance of services to the Company will not violate any duty which you may have to any other person or entity (such as a present or former employer), including obligations concerning providing
services (whether or not competitive) to others, confidentiality of proprietary information and assignment of inventions, ideas, patents or copyrights, and you agree that you will not do anything in the performance of services hereunder that would
violate any such duty. You will be expected to abide by the Company rules and regulations and acknowledge in writing that you have read the Company’s Employee Handbook. 

Change in Control Double Trigger Option Acceleration 

lf, on or within twelve (12) months after a Change in Control (as defined below). your employment is terminated by the Company (or its
successor) other than for Cause (as defined below) or by you due to a resignation for Good Reason (as defined below), and such termination or resignation is not due to your death or disability, then all outstanding shares subject to any stock
options or other equity awards then held by you 

  
 12 

 
(including, but not limited to, the Option) shall vest in full effective as of immediately prior to your termination (the “Full Acceleration”). Notwithstanding the foregoing, as a
precondition of the Full Acceleration, you must deliver to the Company, within (30) days following your termination date, a signed and dated effective, general release of all known and unknown claims in the form provided to you by the Company.

 For the purposes of the above paragraph, the following definitions shall apply: 

(1)    Definition of Change in Control 

“Change in Control” shall have the same definition as Sections 2(a)(i) and 2(a)(iii) of the Plan (which constitutes portions of the
definition of “Acquisition” under the Plan). 
 (2)    Definition of Cause 

“Cause” for the Company (or any successor thereto) to terminate your employment shall exist if any of the following occurs:
(A) any willful, material violation of any law or regulation applicable to the business of the Company by you, (B) your conviction (including a guilty plea of nolo contendere) of any felony. or of any other crime involving fraud,
dishonesty or moral turpitude; (C) your commission or attempted commission of or participation in a fraud act or act of dishonesty against the Company; (D) your material violation of any written and fully executed contract or agreement
between you and the Company, including, without limitation, material breach of this agreement, or your Proprietary Information and Invention Assignment Agreement, or of any Company policy, or of any statutory duty you owe to the Company;
(E) your conduct that constitutes gross insubordination or habitual neglect of duties or refusal to perform any duty reasonably requested of you by the CEO or the Board (other than as a result of having a disability that prevents you from
performing the material duties required of a person holding your position with the Company for a period of at least 120 days) or (F) any other misconduct by you that is materially injurious to the financial condition or business reputation of,
or is otherwise materially injurious to, the Company; provided, however, that the action or conduct described in clauses (D), (E) and (F) above will constitute “Cause” only if such action or conduct continues after the Board has
provided you with written notice thereof and thirty (30) days opportunity to cure the same (provided that the Board is not obligated to provide such written notice and opportunity to cure if the action or conduct is not reasonably susceptible
to cure). The determination that a termination is for Cause shall be made by the Board in good faith. 

(3)    Definition of Good Reason 

For purposes of this Agreement, you shall have “Good Reason” for your resignation from your employment with the Company or its
successors for up to ninety (90) days following the occurrence of one of the following events without your written consent and after having provided thirty (30) days prior written notice 

  
 13 

 
and an opportunity to cure to the Company, and the Company fails to cure the event within such thirty (30)-day cure period: (A) material reduction in
your duties (including responsibilities and/or authorities), provided, however, that a change in job position (including a change in title) shall not be deemed a “material reduction” in and of itself unless your new duties are
substantially reduced from prior duties, and other than any changes purely attributable to the integration of the business and operations of the Company into the business and operations of an acquirer in connection with a Change in Control;
(B) relocation of your principal place of employment to a place that increases your one-way commute by more than forty-five (45) miles as compared to your then current place of employment immediately
prior to such relocation; or (C) a reduction of at least 10% of your gross base salary (unless pursuant to a salary reduction program applicable generally to the Company’s executive employees). 

Severance Benefits 
 lf, at any time,
(a) your employment with the Company terminates due to termination without Cause by the Company (or its successor) or you resign for Good Reason and (b) such termination is not due to your death or disability, then, upon your
“separation from service” (as defined under Treasury Regulation Section 1.409A-1(h))(a “Separation from Service”), then you shall be entitled to receive the following as your sole
severance benefits (the “Severance Benefits”): 
 (1)    Severance Pay 

You shall be entitled to severance pay in the form of continuation of your base salary in effect on the effective date of termination for the
first three (3) months after the date of such termination. The severance shall be paid in substantially equal installments on the Company’s regular payroll schedule, subject to standard deductions and withholdings over the three
(3) month period following termination; provided, however, that no payments will be made prior to the thirtieth (30th) day following your termination (or on such later date that the Release
(as defined below) becomes effective). On the thirtieth (30th) day following your termination date, the Company will pay you the salary continuation payments that you would have received on or
prior to such date in a lump sum under the original schedule but for the thirty (30)-day delay while waiting for the effectiveness of the Release (as defined below), with the balance of the cash severance
being paid as originally scheduled. 
 (2)    Stock Option Vesting 

Any unvested stock options and other equity awards (if any) outstanding as of the termination date (including the Option, to the extent not
fully vested) will be subject to accelerated vesting, effective as of the termination date, solely with respect to an additional number of options that would have vested over a three(3) month period following the date of your termination had your
employment not been terminated (for example 6/48th of the total options for option grants with a four year vesting schedule). 

  
 14 

 The Severance Benefits are conditional upon (a) your continuing to comply with your
continuing obligations under your Proprietary Information and Invention Assignment Agreement; and b) your delivering to the Company, within thirty (30) days following your termination date, a signed and dated effective, general release of
allknown and unknown claims in the form provided to you by the Company. 
 Notwithstanding anything to the contrary in this Agreement, no
compensation or benefits, including without limitation any Severance Benefits, shall be paid to you during the 6-month period following your Separation from Service to the extent that (i) you are a
specified employee (within the meaning of Internal Revenue Code Section 409A (together with the regulations and other guidance thereunder, “Section 409A”)) and (ii) the Company makes a good faith determination that paying
such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then the Company
will pay you the cumulative amount that would have otherwise been payable to you during such 6-month period in a lump sum on the first business day after such six-month
period (or such earlier date upon which such amount can be paid under Section 409A of the Code without resulting in a prohibited distribution). For purposes of Section 409A, any right to a series of installment payments pursuant to this
Agreement, including without limitation any severance payments, will be treated as a right to a series of separate payments. 
 At-will Employment Relationship and Dispute Resolution 
 Notwithstanding any of the above, your
employment with the Company is “atwill”. This means you may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at any
time and for any reason whatsoever, with or without cause or advance notice (but subject to the severance provisions contained herein). This at-will employment relationship cannot be changed except in a
writing signed by a Company officer or by a duly authorized member of the Board. To ensure the rapid and economical resolution of disputes that may arise in connection with your employment, you and the Company agree that any and all disputes,
claims, or causes of action, in law or equity, arising from or relating to the enforcement, breach, performance, execution, or interpretation of this agreement, your employment, or the termination of your employment, shall be resolved, to the
fullest extent permitted by law, by final, binding and confidential arbitration in San Francisco, California conducted before a single arbitrator by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) or its successor, under the
then applicable JAMS rules. By agreeing to this arbitration procedure, both you and the Company waive the right to resolve any such dispute through a trial by jury or judge or by administrative proceeding. The arbitrator shall: (a) have the
authority to compel adequate discovery for the resolution of the dispute and to 

  
 15 

 award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision
including the arbitrator’s essential findings and conclusions and a statement of the award. The Company shall pay all JAMS’ arbitration fees. Nothing in this letter agreement shall prevent either you or the Company from obtaining
injunctive relief in court if necessary to prevent irreparable harm pending the conclusion of any arbitration. The employment terms in this letter supersede any other agreements or promises made to you by anyone, whether oral or written, and
comprise the final, complete and exclusive agreement between you and the Company. As required by law, this offer is subject to and contingent upon satisfactory proof of your right to work in the United States. Please note that because of employer
regulations adopted in the Immigration Reform and Control Act of 1986, within three (3) business days of starting your new position you will need to present documentation demonstrating that you have authorization to work in the United States.

 All forms of compensation referred to in this Agreement are subject to applicable withholding and payroll taxes. 

If you accept this offer, this Agreement (together with its Exhibits), your option agreements and the Proprietary Information and Invention
Assignment Agreement, shall constitute the complete agreement between you and Company with respect to the terms and conditions of your employment. Any prior or contemporaneous representations (whether oral or written) not contained in this letter or
the Proprietary Information and Invention Assignment Agreement or contrary to those contained in this letter or the Proprietary Information and Invention Assignment Agreement, that may have been made to you are expressly cancelled and superseded by
this offer. Except as otherwise specified herein, the terms and conditions of your employment may not be changed, except in another letter or written agreement, signed by you and the Chief Executive Officer or other responsible officer of the
Company. 
 (signature page follows) 

  
 16 

 Please sign and date this letter, and return it to me by July 30th, 2014 if you wish to accept employment at the Company under the terms described above. 

We look forward to your favorable reply and to a productive and enjoyable work relationship. 

 

			
	Sincerely,
	
	PRINCIPIA BIOPHARMA INC.
		
	By:	 	 /s/ Martin Babler

	Name:	 	Martin Babler
	Title:	 	CEO

  

	
	Accepted by:
	
	 /s/ Steve Gourlay

	Steve Gourlay
	
	JULY 30, 2014

 Exhibit B 

[Stock Options Spreadsheet] 

 

 

 Exhibit C 

[Signed Proprietary Information and Invention Assignment Agreement] 

 Gourlay, Steven 

PRINCIPIA BIOPHARMA INC. 

PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT 

In consideration of my employment by Principia Biopharma Inc. (the “Company”) (the definition of “Company”
for the purposes of this Agreement shall include the Company, its affiliates, and subsidiaries) and access to Proprietary Information (defined below) being given to me by the Company, I hereby agree to this Proprietary Information and Inventions
Agreement (“Agreement”) as follows: 
 1.    Proprietary Information. The term
“Proprietary Information” shall mean trade secrets, research, inventions, confidential knowledge, data or any other information or materials that the Company treats or considers as proprietary, whether or not such Proprietary
Information is patentable or copyrightable, however it is embodied and irrespective of whether it is labeled as “proprietary” or “confidential”. By way of illustration but not limitation, “Proprietary
Information” includes (a) inventions, trade secrets, know-how, ideas, confidential knowledge, chemical structures, compositions, pharmaceutical formulations, methods of administration and
synthesis, improvements, discoveries, developments, processes, designs, techniques, formulas, formulations, source and object codes, data, programs, other works of authorship; organisms, plasmids, cosmids, bacteriophages, expression vectors, cells,
cell lines, tissues, materials, substrates, media, delivery methods or transfection methods, assays, compounds, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto; crystals,
optically active materials, ceramics, metals, metal oxides, and organic and inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms (hereinafter the Proprietary Information found at paragraph 1(a)
shall collectively be referred to as “Inventions”); and (b) information regarding the Company’s plans for research, development, manufacturing, engineering, new products, marketing and selling, the Company’s business
plans, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and information regarding the skills and compensation of other employees of the Company. 

2.    Recognition of Company’s Rights; Nondisclosure. I acknowledge that as a result of my
responsibilities at the Company, I am likely to be exposed and given access to the Proprietary Information of the Company. I understand and agree that my access to the Proprietary Information is for the sole and exclusive purpose of producing
technology and performing other work for the benefit of the Company and that the Company has a substantial ongoing investment in the development of such Proprietary Information which would be injured irreparably if this Agreement were breached. At
all times during the term of my employment and thereafter, I will hold the Company’s Proprietary Information in the strictest confidence and will not, except with the written permission of the Chief Executive Officer of the Company, disclose
(which term throughout this Agreement includes, but is not limited to, lecturing upon or publishing) any such Proprietary Information to anyone other than Company personnel who need to know such information in connection with their work for the
Company or use such Proprietary Information except in connection with any work for the Company. 
 I further acknowledge that Proprietary
Information is solely the property of the Company and I agree that at no time either during the period of my employment nor thereafter will I challenge or engage in any other acts which question or impugn the validity or ownership of the
Company’s 

 
rights in any Proprietary Information. I further acknowledge that any and all improvements or modifications to Proprietary Information that I make, conceive, develop or reduce to practice or to
specific form, whether alone or in conjunction with others, either during or after the period of my employment with the Company shall constitute Proprietary Information. 

3.    Third Party Information. I understand, in addition, that the Company has received and in the future
will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain
limited purposes. During the term of my employment and thereafter, I will hold all Third Party Information in the strictest confidence and will not disclose (to anyone other than Company personnel who need to know such information in connection with
their work for the Company) or use, except in connection with my work for the Company, any Third Party Information unless expressly authorized by an officer of the Company in writing. 

4.    Assignment of Inventions. 

(a)    Except as provided below in paragraph 4(b) of this Agreement, I hereby assign to the Company all my right, title and
interest in and to any and all Inventions whether or not patentable or registrable under copyright or similar statutes, that I make or conceive or reduce to practice or reduce to specific form or learn, either alone or jointly with others, in the
course of my employment by the Company, whether developed in whole or in part using the company’s equipment, supplies, facilities, trade secret information or Proprietary Information; or relating at the time of conception or reduction to
practice to the Company’s business, or actual or demonstrably anticipated research or development of the Company; or resulting from any work performed by me for the Company (collectively, the “Employment Inventions”). I
recognize that this Agreement does not require assignment of any invention which qualifies fully for protection under Section2870 of the California Labor Code (hereinafter “Section 2870”), which provides as
follows: 
 (i)    Any provision in an employment agreement which provides that an employee shall assign, or offer to
assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret
information except for those inventions that either: 
 (1)    relate at the time of conception or reduction to
practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 

(2)    result from any work performed by the employee for the employer. 

(ii)    To the extent a provision in an employment agreement purports to require an employee to assign an invention
otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 

(b)    I have set forth on Exhibit A attached hereto, a complete list of all restrictions, express or implied,
which would prevent me from complying with all of the requirements of paragraph 4(a) of this Agreement in whole or in part. If full disclosure of such restrictions, express or implied, in Exhibit A would cause me to violate any prior
confidentiality 

  
 2 

 
agreement, I understand that I am to describe such restrictions in Exhibit A at the most specific level possible without violating any such restrictions. Exhibit A is incorporated
into this Agreement by reference as if fully set forth herein. I will promptly inform the Company in writing of any such restrictions that arise between the time I sign this Agreement and the time my employment with the Company commences. 

(c)    I also assign to or assign as directed by the Company all my right, title and interest in and to all Employment
Inventions, full title to which is required to be in the United States by a contract between the Company and the United States or any of its agencies. 

(d)    I acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the
scope of my employment and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act (17 U.S.C., Section 101). 

5.    Enforcement of Proprietary Rights. To assist the Company in exercising its ownership rights to all
Proprietary Information or Employment Inventions that I make, conceive, reduce to practice or to specific form, alter or modify, I will, if requested by the Company, execute, verify and deliver assignments of all rights in the United States and
elsewhere, including but not limited to patent and copyright rights, in such Proprietary Information or Employment Inventions to the Company or its designees. I will also assist the Company in every proper way to obtain and from time to time enforce
its United States and foreign rights relating to Proprietary Information or Employment Inventions in any and all countries, irrespective of whether I had any role in the development or modification of such Proprietary Information or Employment
Inventions. To that end, I will execute, verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining
and enforcing such proprietary rights and the assignment thereof to the Company. My obligation to assist the Company with respect to all its rights in Proprietary Information or Employment Inventions in any and all countries shall continue beyond
the termination of my employment, but the Company shall compensate me at a reasonable rate after my termination for the time actually spent by me at the Company’s request on such assistance. 

In the event the Company is unable for any reason, after good faith and all reasonable effort, to secure my signature on any document needed
in connection with the actions specified in this Section 5, I hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf to execute, verify and
file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph thereon with the same legal force and effect as if executed by me. I hereby waive and quitclaim to the Company any and all claims,
of any nature whatsoever, which I now or may hereafter have for infringement of any proprietary rights assigned hereunder to the Company. 

6.    Obligation to Keep Company Informed. I will promptly disclose to the Company fully and in writing and
will hold in trust for the sole right and benefit of the Company any and all Employment Inventions that I make, conceive, develop or reduce to practice or to specific form, whether alone or in conjunction with others, during or after the period of
my employment with the Company. In addition, after any termination of my employment, I will promptly disclose to the Company fully and in writing, the full particulars of all patent applications filed by me which disclose or claim Proprietary
Information or Employment Inventions. 

  
 3 

 I will also promptly disclose to the Company fully and in writing any inventions containing
or disclosing Proprietary Information that I believe fully qualify for protection under Section 2870; and I will at that time provide to the Company in writing all evidence necessary to substantiate that belief. I understand that the Company
will keep in confidence and will not disclose to third parties without my consent any proprietary information disclosed in writing to the Company pursuant to this Agreement relating to Inventions that qualify fully for protection under the
provisions of Section 2870. I will preserve the confidentiality of any Employment Invention that does not fully qualify for protection under Section 2870. 

7.    Prior Inventions. The term “Prior Inventions” shall mean any and all trade secrets, know-how, ideas, confidential knowledge, chemical structures, compositions, pharmaceutical formulations, methods of administration and synthesis, improvements, discoveries, developments, processes, designs,
techniques, formulas, formulations, source and object codes, data, programs, other works of authorship; organisms, plasmids, cosmids, bacteriophages, expression vectors, cells, cell lines, tissues, materials, substrates, media, delivery methods or
transfection methods, assays, compounds, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto; crystals, optically active materials, ceramics, metals, metal oxides, and organic and
inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms, which I have, alone or jointly with others, conceived, developed or reduced to practice or caused to be conceived, developed or reduced to
practice prior to the commencement of my employment with the Company. To preclude any possible uncertainty over what is a Prior Invention, I have set forth on Exhibit B attached hereto a complete list of all Prior Inventions that I consider
to be in whole or part my property or the property of third parties, and that I wish to have excluded from the scope of this Agreement. If full disclosure of any such Prior Invention on Exhibit B would cause me to violate any prior
confidentiality agreement, I understand that I am to describe such Prior Inventions in Exhibit B at the most specific level possible without violating any such prior confidentiality agreements. Exhibit B is incorporated into this
Agreement as if fully set forth herein. I will promptly inform the Company in writing of any Prior Inventions that occur between the time I sign this Agreement and the time my employment with the Company commences. 

8.    Unauthorized Use or Disclosure. I shall immediately notify my supervisor or any officer of the Company
if I learn of any possible unauthorized use or disclosure of Proprietary Information and shall cooperate fully with the Company to enforce the provisions of this Agreement. 

9.    Authorized Disclosure. Should I be subject to any governmental, administrative or court order or
action purporting to require or authorize the disclosure of any Proprietary Information, in whole or in part, I will immediately notify the Company’s legal department and will immediately provide the Company with all documents and other
pertinent information in my possession or control to permit the Company to take such steps as it deems necessary in its sole discretion to block or pursue the confidentiality of such disclosure. 

  
 4 

 10.    Additional Activities. I agree that during the
period of my employment by the Company I will not, without the Company’s express written consent, engage in any employment or business activity other than for the Company, except as may be provided in any written agreement between me and an
authorized officer of the Company with the Company executed as of the same date, and for the period of my employment by the Company and for one (1) year after the date of termination of my employment by the Company I will not use any
Proprietary Information in order to (i) induce any employee of the Company to leave the employ of the Company or (ii) solicit the business of any client or customer of the Company (other than on behalf of the Company) with whom I had
contact during the course of my employment with the Company. 
 11.    No Improper Use of Materials. I
acknowledge that the Company forbids me to use or disclose any information that is proprietary to any competitor of the Company or to any other third party. Therefore, during my employment by the Company, I will not use or disclose any confidential
information or trade secrets, if any, of any former employer or any other person to whom I have an obligation of confidentiality and I will not bring onto the premises of the Company any unpublished documents or any property belonging to any former
employer or any other person to whom I have an obligation of confidentiality unless consented to in writing by that former employer or person. To preclude any possible uncertainty, I have set forth on Exhibit C attached hereto, a complete
list of all devices, materials, and documents of a former employer or other person or institution to whom I have an obligation of confidentiality that may be used in providing services to the Company pursuant to the express written authorization of
my former employer or such other person. I will promptly notify the Company in writing of any devices, materials, and documents that are called for in Exhibit C that arise between the time I sign this Agreement and the time my employment with
the Company commences. Exhibit C is incorporated into this Agreement by reference as if fully set forth herein. In addition, I will not seek nor knowingly use any information from job applicants, Company employees or other third parties,
including but not limited to vendors, that is confidential to the present or former employers of such applicants or former employers of the employees or to such third parties. 

12.    No Conflicting Obligation. I represent that my performance of all the terms of this Agreement and as
an employee of the Company does not and will not breach any agreement to keep in confidence information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into, and I agree I will not enter into, any
agreement either written or oral in conflict herewith. 
 13.    Return of Company Materials. When I leave
the employ of the Company, I will deliver to the Company any and all copies and originals of drawings, notes, memoranda, lab notebooks, specifications, correspondence (including email and quickmail messages), devices, equipment, formulas, documents,
molecules, cells, organisms, plasmids, cosmids, bacteriophages, expression vectors, cell lines, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto; crystals, optically active
materials, ceramics, metals, metal oxides, and organic and inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms and any other material containing or disclosing any Inventions, Employment
Inventions, Proprietary Information or Third Party Information. I further agree that any property situated on the Company’s premises and owned by the Company, including disks and other storage media, quickmail, email, voicemail, filing cabinets
or other work areas, is subject to inspection by Company personnel at any time with or without notice. Prior to leaving, I will reasonably cooperate with the Company in completing and signing the Company’s documentation for separating staff
members. 

  
 5 

 14.    Name and License. I hereby grant to the Company a non-exclusive worldwide license to use my name and likeness on or in connection with any advertising and promotional materials distributed by or on behalf of the Company in any medium while serving as an employee or
director of the Company or thereafter, if such materials describe my prior role as employee or director of the Company or thereafter, if such material describes my prior role as an employee or director of the Company. 

15.    Potential Liability. I have been informed and acknowledge that the unauthorized taking of the
Company’s trade secrets (a) could result in civil liability under California Civil Code Section 3426, and that, if willful, could result in an award for triple the amount of the Company’s damages and attorneys’ fees; and
(b) is a crime under California Penal Code Section 499c(c), punishable by imprisonment for a time not exceeding one year, or by a fine not exceeding five thousand dollars ($5,000), or by both. 

16.    Legal and Equitable Remedies. Because my services are personal and unique and because I may have
access to and become acquainted with the Proprietary Information of the Company, and due to the irreparable injury which would be suffered by the Company as a result of a breach of this Agreement, the Company shall have the right to enforce this
Agreement and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies that the Company may have for a breach of this Agreement. 

17.    Notices. Any notices required or permitted hereunder shall be given to the appropriate party at the
address specified below or at such other address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery to the appropriate address or if sent by certified or registered mail, three days after the date of
mailing. 
 18.    Employment at Will. I understand and agree that my employment with the Company is at-will. Therefore, my employment can terminate, with or without cause, and with or without notice, at any time, at my option or the Company’s option, and that the Company can terminate or change all other
terms and conditions of my employment, with or without cause, and with or without notice, at any time. I understand that the nature of my employment relationship with the Company will be governed by this paragraph and that this paragraph constitutes
the entire agreement, arrangement, and understanding between me and the Company on this subject matter and supersedes any prior or contemporaneous agreement, arrangement, and understanding on this subject matter. This
at-will relationship will remain in effect throughout my employment with the Company or any of its subsidiaries or affiliates, unless it is modified by a written agreement signed by both the Company’s
President and me which expressly alters it. This at-will relationship may not be modified by any oral or implied agreement, or by any Company policies, practices or patterns or conduct. 

19.    General Provisions. 

(a)    Governing Law and Forum. This Agreement will be governed by and construed according to the substantive laws of the
State of California without resort to conflict of law principles and I hereby consent to the jurisdiction of the courts of California, both state and federal, for any claim sounding in tort or contract or created by state or federal law related in
any way to my or the Company’s rights and obligations under the Agreement. 

  
 6 

 (b)    Entire Agreement. This Agreement, including all
exhibits hereto, is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior discussions between us. No modification of or amendment to this Agreement, nor any waiver of
any rights under this Agreement, will be effective unless in writing signed by the party to be charged. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. As used in this
Agreement, the period of my employment includes any time during which I may be retained by the Company as a consultant. 

(c)    Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. 
 (d)    Assignment. This Agreement may not be assigned by
me but is fully assignable by the Company. 
 (e)    Successors and Assigns. This Agreement will be
binding upon my heirs, executors, administrators and other legal representatives and will be for the benefit of the Company, its successors, and its assigns. 

(f)    Survival. The provisions of this Agreement shall survive the termination of my employment and the
assignment of this Agreement by the Company to any successor in interest or other assignee. 

(g)    Waiver. No waiver by the Company of any breach of this Agreement shall be a waiver of any preceding
or succeeding breach. No waiver by the Company of any right under this Agreement shall be construed as a waiver of any other right. The Company shall not be required to give notice to enforce strict adherence to all terms of this Agreement. 

(h)    Effective Date. Agreement shall be effective as of the earliest of (1) the first day of my
employment by the Company; or (2) the first day of my use of, the facilities, technology, expertise, data, or Proprietary Information of the Company; or (3) the day I sign this Agreement. 

  
 7 

 (i)    Descriptive Headings. The descriptive headings of
this Agreement are for convenience only, and shall be of no force or effect in construing or interpreting any of the provisions of this Agreement. 

I UNDERSTAND THAT THIS AGREEMENT AFFECTS MY RIGHTS TO INVENTIONS I MIGHT HAVE MADE DURING MY PAST EMPLOYMENT. AND MAKE DURING MY EMPLOYMENT,
AND RESTRICTS MY RIGHT TO DISCLOSE OR USE THE COMPANY’S PROPRIETARY INFORMATION DURING OR SUBSEQUENT TO MY EMPLOYMENT. 
 I HAVE READ
THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS. I HAVE COMPLETELY FILLED OUT EXHIBITS A, B. AND C AND SIGNED AND DATED ALL EXHIBITS TO THIS AGREEMENT. 

IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year first set forth above. 

 

							
	COMPANY:	  		  		  	EMPLOYEE:
	 PRINCIPIA BIOPHARMA INC.

a Delaware corporation
	  		  	
				
	By:	  	 /s/ Martin Babler
	  		  	 /s/ Steven Gourlay

	Name:	  	Martin Babler	  		  	Name: Steven G. Gourlay
	Title:	  	CEO	  		  	
	Address:	  	400 East Jamie Court. Ste 302	  		  	Address:
	 	  	South San Francisco CA 94080	  	 	  	 

 PRINCIPIA BIOPHARMA INC. 

EMPLOYEE PROPRIETARY INFORMATION AND INVENTIONS
AGREEMENT 

 EXHIBIT A 

Principia Biopharma Inc.. 
 400 East Jamie Court Suite 302 

South San Francisco, CA 94080 
 Attention: Board of Directors

 Directors: 
 The following is a complete list of all
restrictions which would prevent me. in whole or in part. from assigning- to or as directed by the Company (as defined in the attached Agreement) all my right, title and interest in and to any and all Employment Inventions (as required by
paragraph 4 of the Agreement): 
  

					
		 	☒	  	No restrictions.
			
		 	☐	  	Restrictions:
			
		 		  	  

			
		 		  	  

			
		 	☐	  	Number of additional sheets attached.

 Date: 10/4/2017 
  

	
	Very truly yours,
	
	 Steven G. Gourlay

	Print Name
	
	 /s/ Steven G. Gourlay

	Signature

 EXHIBIT B 

Principia Biopharma Inc.. 
 400 East Jamie Court Suite 302 

South San Francisco, CA 94080 
 Attention: Board of Directors

 Directors: 
 The following is a complete list of all Prior
Inventions (as defined in the attached Agreement): 
  

					
		 	☒	  	No Prior Inventions
			
		 	☐	  	Prior Inventions:
			
		 		  	  

			
		 		  	  

			
		 	☐	  	Number of additional sheets attached.

 Date: 10/4/2017 
  

	
	Very truly yours,
	
	 Steven G. Gourlay

	Print Name
	
	 /s/ Steven G. Gourlay

	Signature

 EXHIBIT C 

Principia Biopharma Inc.. 
 250 Golden Hills Drive 

Portola Valley, CA 94028 
 Attention: Board of Directors 

Directors: 
 I propose to bring or have already brought to my
employment with the Company (as defined in the attached Agreement) the following devices. materials and documents of my former employer(s) or other person(s) or institution(s) to whom I have an obligation of confidentiality that are not generally
available to the public, which materials and documents may be used in providing services to the Company pursuant to the express written authorization of my former employer(s) or such other person(s) or institution(s) (copies of all such
authorizations are attached hereto): 
  

					
		 	☒	  	No materials.
			
		 	☐	  	Materials:
			
		 		  	  

			
		 		  	  

			
		 	☐	  	Number of additional sheets attached.
			
		 	☐	  	Number of pages of authorizations attached.

 Date: 10/4/2017 
  

	
	Very truly yours,
	
	 Steven G. Gourlay

	Print Name
	
	 /s/ Steven G. Gourlay

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00287-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00287-of-00352.parquet"}]]