Document:

Exhibit 10.2

 

COMPASS
THERAPEUTICS, INC.

 

SENIOR EXECUTIVE
CASH INCENTIVE BONUS PLAN

 

		1.	Purpose

 

This Senior Executive Cash Incentive Bonus
Plan (the “Incentive Plan”) is intended to provide an incentive for superior work and to motivate eligible executives
of Compass Therapeutics, Inc. (the “Company”) and its subsidiaries toward even higher achievement and business results,
to tie their goals and interests to those of the Company and its stockholders and to enable the Company to attract and retain highly
qualified executives. The Incentive Plan is for the benefit of Covered Executives (as defined below).

 

		2.	Covered Executives

 

From time to time, the Compensation Committee
of the Board of Directors of the Company (the “Compensation Committee”) may select certain key executives (the “Covered
Executives”) to be eligible to receive bonuses hereunder. Participation in the Incentive Plan does not change the “at
will” nature of a Covered Executive’s employment with the Company.

 

		3.	Administration

 

The Compensation Committee shall have the
sole discretion and authority to administer and interpret the Incentive Plan.

 

		4.	Bonus Determinations

 

(a) Corporate
Performance Goals. A Covered Executive may receive a bonus payment under the Incentive Plan based upon the attainment of one
or more performance objectives that are established by the Compensation Committee and relate to financial and operational metrics
with respect to the Company or any of its subsidiaries (the “Corporate Performance Goals”), including without limitation
the following: developmental, publication, clinical or regulatory milestones
and results; cash flow (including, but not limited to, operating cash flow and free cash flow); revenue; corporate revenue; earnings
before interest, taxes, depreciation and amortization; net income (loss) (either before or after interest, taxes, depreciation
and/or amortization); changes in the market price of our common stock; economic value-added; acquisitions, licenses or strategic
transactions; financing or other capital raising transactions; operating income (loss); return on capital, assets, equity, or investment;
stockholder returns; return on sales; total shareholder return; gross or net profit levels; productivity; expense efficiency; margins;
operating efficiency; customer satisfaction; working capital; earnings (loss) per share of our common stock; bookings, new bookings
or renewals; sales or market shares; number of prescriptions or prescribing physicians; coverage decisions; leadership development,
employee retention, and recruiting and other human resources matters; operating income and/or net annual recurring revenue,
any of which may be (A) measured in absolute terms or compared to any incremental increase, (B) measured in terms of growth,
(C) compared to another company or companies or to results of a peer group, (D) measured against the market as a whole and/or as
compared to applicable market indices and/or (E) measured on a pre-tax or post-tax basis (if applicable). Further, any Corporate
Performance Goals may be used to measure the performance of the Company as a whole or a business unit or other segment of the Company,
or one or more product lines or specific markets.  The Corporate Performance Goals may differ from Covered Executive to Covered
Executive.

 

     

     

    

 

(b) Calculation
of Corporate Performance Goals. At the beginning of each applicable performance period, the Compensation Committee will determine
whether any significant element(s) will be included in or excluded from the calculation of any Corporate Performance Goal with
respect to any Covered Executive.  In all other respects, Corporate Performance Goals will be calculated in accordance with
the Company’s financial statements, generally accepted accounting principles, or under a methodology established by the Compensation
Committee at the beginning of the performance period and which is consistently applied with respect to a Corporate Performance
Goal in the relevant performance period.

 

(c) Target;
Minimum; Maximum. Each Corporate Performance Goal shall have a “target” (i.e., 100 percent attainment of the Corporate
Performance Goal) and may also have a “minimum” hurdle and/or a “maximum” amount.

 

(d) Bonus
Requirements; Individual Goals. Except as otherwise set forth in this Section 4(d): (i) any bonuses paid to Covered Executives
under the Incentive Plan shall be based upon objectively determinable bonus formulas that tie such bonuses to one or more performance
targets relating to the Corporate Performance Goals, (ii) bonus formulas for Covered Executives shall be adopted in each performance
period by the Compensation Committee and communicated to each Covered Executive at the beginning of each performance period and
(iii) no bonuses shall be paid to Covered Executives unless and until the Compensation Committee makes a determination with respect
to the attainment of the performance targets relating to the Corporate Performance Goals. Notwithstanding the foregoing, the Compensation
Committee may adjust bonuses payable under the Incentive Plan based on achievement of one or more individual performance objectives
or pay bonuses (including, without limitation, discretionary bonuses) to Covered Executives under the Incentive Plan based on individual
performance goals and/or upon such other terms and conditions as the Compensation Committee may in its discretion determine.

 

(e) Individual
Target Bonuses. The Compensation Committee shall establish a target bonus opportunity for each Covered Executive for each performance
period. For each Covered Executive, the Compensation Committee shall have the authority to apportion the target award so that a
portion of the target award shall be tied to attainment of Corporate Performance Goals and a portion of the target award shall
be tied to attainment of individual performance objectives.

 

(f) Employment
Requirement. Subject to any additional terms contained in a written agreement between the Covered Executive and the Company,
the payment of a bonus to a Covered Executive with respect to a performance period shall be conditioned upon the Covered Executive’s
employment by the Company on the bonus payment date. If a Covered Executive was not employed for an entire performance period,
the Compensation Committee may pro rate the bonus based on the number of days employed during such period.

 

    2

     

    

 

		5.	Timing of Payment

 

(a) With
respect to Corporate Performance Goals established and measured on a basis more frequently than annually (e.g., quarterly or semi-annually),
the Corporate Performance Goals will be measured at the end of each performance period after the Company’s financial reports
with respect to such period(s) have been published. If the Corporate Performance Goals and/or individual goals for such period
are met, payments will be made as soon as practicable following the end of such period, but not later 74 days after the end of
the fiscal year in which such performance period ends.

 

(b) With
respect to Corporate Performance Goals established and measured on an annual or multi-year basis, Corporate Performance Goals will
be measured as of the end of each such performance period (e.g., the end of each fiscal year) after the Company’s financial
reports with respect to such period(s) have been published. If the Corporate Performance Goals and/or individual goals for any
such period are met, bonus payments will be made as soon as practicable, but not later than 74 days after the end of the relevant
fiscal year.

 

(c) For
the avoidance of doubt, bonuses earned at any time in a fiscal year must be paid no later than 74 days after the last day of such
fiscal year.

 

		6.	Amendment and Termination

 

The Company reserves the right to amend
or terminate the Incentive Plan at any time in its sole discretion.

 

Date Approved: June 17, 2020

 

 

3Exhibit 10.3

 

	 	CONFIDENTIAL

 

Confidential
Offer Letter For

Vered Bisker-Leib

 

November 28, 2017

 

Dear Vered:

 

We are very pleased to offer you full time,
permanent employment with Compass Therapeutics LLC (“Compass”) as Chief Business Officer (CBO), under the following terms.
You will report directly to Co-founder and Chief Executive Officer, Thomas Schuetz. Your responsibilities will include oversight
of all Business Development actitivites.

 

Start Date: Your start date
will be December 1, 2017 or a date mutually agreed upon by you and Compass, including earlier if existing arrangements allow.

 

Base Salary: Your base salary
will be equivalent to $325,000.00 annually which will be paid in semi-monthly installments of $13,541.66. You are also eligible
for a target bonus opportunity of 33% based on achievement of company and individual goals. Bonus payments will be made in March
following the completion of the performance year and you must be employed at Compass Therapeutics LLC at the time of payment. All
payments will be subject to deductions for taxes and other withholdings as required by law or the policies of the company.

 

Profits Interests: Upon starting
your employment, you will be granted 1,500,000 profits interest Common Units in Compass. 25% of these shares will vest on the first
anniversary of your employment and the remaining shares will vest monthly over the following 36 months (months 13-48) at a rate
of 1/36 per month. Upon completion of a board-approved “first major deal,” you will be granted 500,000 additional profits
interest Common Units. The vesting schedule will be the same: 25% of these shares will vest on the first anniversary of the deal
and the remaining shares will vest monthly over the following 36 months (months 13-48) at a rate of 1/36 per month.

 

401(k): You are eligible
to participate in Compass’s Traditional 401(k) or Roth 401(k) programs which do not presently include a company match. The company,
may at times, and with Board of Directors approval, make a discretionary contribution into the 401(k) program.

 

Time Off: Compass allows
employees to take time off as needed, with manager approval. For the remainder of 2017, Compass will be closed from December 23th-January
1st, 2018.

 

Benefits: Compass offers
health, dental, vision and life insurance. You are eligible for Compass’ standard medical coverage as defined in the Compass Therapeutics
Explanation of Healthcare Benefits. Compass subsidizes a significant portion of premiums, deductibles, and out-of-pocket maximums.
As of the date hereof, Compass subsidizes 90% in premiums, deductibles and out-of-pocket maximums associated with medical coverage
and 90% of premiums for dental and vision coverage.

 

Compass also offers commuter and cell phone
reimbursement programs in addition to enrollment in a Flexible Spending Account (FSA), which allows you to put aside pre-tax income
for unreimbursed medical, dental, vision and dependent care expenses.

 

As is true for all Compass employees, your
employment with Compass will be “at will”, meaning that either you or Compass may terminate your employment at any time
for any reason.

 

     

     

    

 

	 	CONFIDENTIAL

 

This offer of employment is contingent
on a background check and your signing of Compass’ employee confidentiality, non-compete and non-solicitation agreement. You will
also be required to submit documentation that establishes your identity and employment eligibility in accordance with the US Immigration
and Naturalization requirements. If there are any other agreements of any type that you are aware of which may impact or limit
your ability to perform your job at Compass, please let us know as soon as possible.

 

If you would like to accept this offer
please sign and return the letter and the enclosed agreement by the end of day on December 1,2017 to sara.mannle@compasstherapeutics.com

 

We look forward to having you as part of
the Compass team.

 

Sincerely,

 

	/s/ Thomas Schuetz	 
	 	 
	Thomas Schuetz, MD, PhD	 
	Co-founder and Chief Executive Officer	 
	 	 
	AGREED TO:	 
	 	 
	/s/ Vered Bisker-Leib	 
	Vered Bisker-Leib	 
	 	 
	November 28th, 2017	 
	Date

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