Document:

EX-10.7

 Exhibit 10.7 
  

 
 February 5, 2020 
 David
Chacko 
  

	Re:	 Restated Employment Offer Letter 

Dear David: 
 You are currently a party to an
employment offer letter with Erasca, Inc. (the “Company”) dated April 19, 2019 (the “Original Agreement”). You and the Company hereby agree to amend and restate the Original Agreement to add
certain severance benefits, as provided in this amended employment offer letter (this “Amended Agreement”), effective from and after January 1, 2020. 

• DUTIES. You shall serve and shall perform such duties as are customarily associated
with the position of Chief Business Officer and such other duties as are assigned to you, reporting to Jonathan Lim, CEO. You shall perform your services on a full-time basis at the Company’s headquarters. This is an exempt position. 

 • EXCLUSIVE SERVICES. You shall perform your services on a
full-time basis at the Company’s headquarters and devote your full working time and attention to the business affairs of the Company and its affiliates. Subject to the terms of the Company’s form of Proprietary Information and Inventions
Agreement, as described below, this shall not preclude you from (a) devoting time to personal and family investments, (b) participating in industry associations, or (c) serving on up to one outside board with the approval of the Chief
Executive Officer of the Company or the Board of Directors of the Company (the “Company”), provided such activities do not interfere with your duties to the Company, as determined in good faith by the Chief Executive Officer
of the Company or the Board. 
 • COMPENSATION. Your initial compensation will be as follows: 

 

	 	•	 	 BASE SALARY. You will receive an annual base salary of $314,000,
which reflects a merit increase effective January 1, 2020, for all hours worked, to be paid in accordance with the Company’s customary payroll procedures. 

 

	 	•	 	 STOCK OPTIONS. You were previously granted
stock options to purchase 875,000 shares of the Company’s common stock at an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant (the “Stock
Options”). The Stock Options were granted pursuant to the Company’s equity incentive plan (the “Plan”). The Stock Options are subject to the terms and conditions of the Plan and your stock option agreement.
The Stock Options will vest over a four year vesting schedule, with 25% of the Stock Options vesting on the first anniversary of your commencement of employment and the remaining Stock Options vesting in 36 equal monthly installments thereafter,
subject to your continued employment or service to the Company on each such vesting date. 

  

	 	•	 	 ANNUAL BONUS. Commencing in 2020, the Board has established an annual bonus
plan, pursuant to which will be eligible to participate, subject to the terms and conditions of such plan, and your bonus target will be equal to 30% of your base salary (your “Target Bonus”). You must be employed by
the Company on the date of payment of such annual bonus in order to be eligible to receive such annual bonus. You hereby acknowledge and agree that nothing contained herein confers upon you any right to an annual bonus in any year, and that whether
the Company pays you an annual bonus and the amount of any such annual bonus will be determined by the Company in its sole discretion. 

	 	•	 	 BENEFITS. You shall be eligible to participate in all of the
employee benefit plans or programs the Company generally makes available to similarly situated employees, pursuant to the terms and conditions of such plans. You will initially be entitled to 18 days of paid time off each year, accruing on a
semi-monthly basis, and all holidays observed by the Company each year. The Company reserves the right to change compensation and benefits provided to its employees from time to time in its discretion. 

 

	 	•	 	 WITHHOLDING. All amounts payable to you will be subject to appropriate payroll deductions
and withholdings. 

 • EXPENSES. You will be entitled to reimbursement for all ordinary and
reasonable out-of-pocket business expenses which are reasonably incurred by you in furtherance of the Company’s business, with appropriate documentation and in
accordance with the Company’s standard policies. 
 • SEVERANCE. 

 

	 	•	 	 ACCRUED OBLIGATIONS. If your employment terminates for any
reason, you are entitled to your fully earned but unpaid base salary, through the date such termination is effective at the rate then in effect, and all other amounts or benefits to which you are entitled under any compensation, retirement or
benefit plan of the Company at the time of your termination of employment in accordance with the terms of such plans, including, without limitation, any accrued but unpaid paid time off and any continuation of benefits required by applicable law
(the “Accrued Obligations”). 

  

	 	•	 	 NON-CIC SEVERANCE
BENEFITS. In addition to your Accrued Obligations, subject to your continued compliance with the Proprietary Information and Inventions Agreement, as described below, and the effectiveness of your Release (as
defined below), if your employment is involuntarily terminated by the Company without Cause (as defined below) (and other than by reason of your death or disability) or you resign for Good Reason (as defined below) (either such termination, a
“Qualifying Termination”), and such Qualifying Termination does not occur during the Change in Control Period (as defined below), you shall be entitled to receive, as the sole severance benefits to which you are entitled, the
benefits provided below (the “Non-CIC Severance Benefits”): 

  

	 	•	 	 An amount equal to your base salary for the Non-CIC Severance Period (as
defined below) (at the rate in effect immediately prior to the date of your termination of employment), payable in a lump sum on the first regularly-scheduled payroll date following the date your Release becomes effective (but in no event more than
75 days following your termination date). 

  

	 	•	 	 For the Non-CIC Severance Period (or, if earlier, the date on which the
applicable continuation period under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) expires) (the “COBRA Coverage Period”), if you and/or your eligible dependents who
were covered under the Company’s health insurance plans as of the date of your termination of employment elect to have COBRA coverage and are eligible for such coverage, the Company shall pay for or reimburse you on a monthly basis for an
amount equal to (a) the monthly premium you and/or your covered dependents, as applicable, are required to pay for continuation coverage pursuant to COBRA for you and/or your eligible dependents, as applicable, who were covered under the
Company’s health plans as of the date of your termination of employment (calculated by reference to the premium as of the date of your termination of employment) less (b) the amount you would have had to pay to receive group health
coverage for you and/or your covered dependents, as applicable, based on the cost sharing levels in effect on the date of your termination of employment. If any of the Company’s health benefits are self-funded as of the date of your termination
of employment, or if the Company cannot 

	 	 
provide the foregoing benefits in a manner that is exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), or that is otherwise
compliant with applicable law (including, without limitation, Section 2716 of the Public Health Service Act), instead of providing the payments or reimbursements as set forth above, the Company shall instead pay to you the foregoing monthly
amount as a taxable monthly payment for the COBRA Coverage Period (or any remaining portion thereof). You shall be solely responsible for all matters relating to continuation of coverage pursuant to COBRA, including, without limitation, the election
of such coverage and the timely payment of premiums. You shall notify the Company immediately if you become eligible to receive the equivalent or increased healthcare coverage by means of subsequent employment or self-employment.

  

	 	•	 	 CIC SEVERANCE BENEFITS. In addition to your Accrued
Obligations, subject to your continued compliance with the Proprietary Information and Inventions Agreement, as described below, and the effectiveness of your Release, if your Qualifying Termination occurs during the Change in Control Period, you
shall be entitled to receive, as the sole severance benefits to which you are entitled and in lieu of any Non-CIC Severance Benefits, the benefits provided below (the “CIC Severance
Benefits”) (and for the avoidance of doubt, in no event will you be entitled to both the Non-CIC Severance Benefits and the CIC Severance Benefits): 

 

	 	•	 	 An amount equal to your base salary for the CIC Severance Period (as defined below) (at the rate in effect
immediately prior to the date of your termination of employment), payable in a lump sum on the first regularly-scheduled payroll date following the date your Release becomes effective (but in no event more than 75 days following your termination
date). 

  

	 	•	 	 An amount equal to (a) (i) your Target Bonus for the year in which your date of termination occurs, divided
by (ii) 12, multiplied by (b) the number of months in the CIC Severance Period, payable in a lump sum on the first regularly-scheduled payroll date following the date your Release becomes effective (but in no event more than 75 days following
your termination date). 

  

	 	•	 	 For the CIC Severance Period (or, if earlier, the date on which the applicable continuation period under COBRA
expires) (the “CIC COBRA Coverage Period”), if you and/or your eligible dependents who were covered under the Company’s health insurance plans as of the date of your termination of employment elect to have COBRA coverage
and are eligible for such coverage, the Company shall pay for or reimburse you on a monthly basis for an amount equal to (a) the monthly premium you and/or your covered dependents, as applicable, are required to pay for continuation coverage
pursuant to COBRA for you and/or your eligible dependents, as applicable, who were covered under the Company’s health plans as of the date of your termination of employment (calculated by reference to the premium as of the date of your
termination of employment) less (b) the amount you would have had to pay to receive group health coverage for you and/or your covered dependents, as applicable, based on the cost sharing levels in effect on the date of your termination of
employment. If any of the Company’s health benefits are self-funded as of the date of your termination of employment, or if the Company cannot provide the foregoing benefits in a manner that is exempt from Section 409A of the Code, or that
is otherwise compliant with applicable law (including, without limitation, Section 2716 of the Public Health Service Act), instead of providing the payments or reimbursements as set forth above, the Company shall instead pay to you the
foregoing monthly amount as a taxable monthly payment for the CIC COBRA Coverage Period (or any remaining portion thereof). You shall be solely responsible for all matters relating to continuation of coverage pursuant to COBRA, including, without
limitation, the election of such coverage and the timely payment of premiums. You shall notify the Company immediately if you become eligible to receive the equivalent or increased healthcare coverage by means of subsequent employment or
self-employment. 

	 	•	 	 Notwithstanding anything else set forth herein, in the Plan or in any award agreement, any unvested Stock Awards
(as defined below) then held by you (including the Stock Options) will vest on the effective date of your Release. The foregoing provisions are hereby deemed to be a part of each Stock Award and to supersede any less favorable provision in any
agreement or plan regarding such Stock Award. 

  

	 	•	 	 As a condition to your receipt of any post-termination payments and benefits pursuant to the preceding
paragraphs, you shall execute and not revoke a general release of all claims in favor of the Company (the “Release”) in a form reasonably acceptable to the Company. In the event the Release does not become effective within
the 60-day period following the date of your termination of employment, you will not be entitled to the aforesaid payments and benefits. 

 

	 	•	 	 For purposes of this Amended Agreement, “Cause” means any of the following: (a) your
commission of an act of fraud, embezzlement or dishonesty, or the commission of some other illegal act by you, that has a demonstrable adverse impact on the Company or any successor or affiliate thereof; (b) your conviction of, or plea of
“guilty” or “no contest” to, a felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (c) any intentional, unauthorized use or disclosure by you of
confidential information or trade secrets of the Company or any successor or affiliate thereof; (d) your gross negligence, insubordination or material violation of any duty of loyalty to the Company or any successor or affiliate thereof, or any
other demonstrable material misconduct on your part; (e) your ongoing and repeated failure or refusal to perform or neglect of your duties as required by this Amended Agreement or your ongoing and repeated failure or refusal to comply with the
instructions given to you by the Chief Executive Officer of the Company or the Board, which failure, refusal or neglect continues for 15 days following your receipt of written notice from the Chief Executive Officer of the Company or the Board
stating with specificity the nature of such failure, refusal or neglect; or (f) your willful, material breach of any Company policy or any material provision of this Amended Agreement or the Proprietary Information and Inventions Agreement.
Prior to the determination that “Cause” under clauses (d), (e) or (f) has occurred, the Company shall (i) provide to you in writing, in reasonable detail, the reasons for the determination that such “Cause” exists,
(ii) other than with respect to clause (e) above which specifies the applicable period of time for you to remedy your breach, afford you a reasonable opportunity to remedy any such breach, (iii) provide you an opportunity to be heard
prior to the final decision to terminate your employment hereunder for such “Cause” and (iv) make any decision that such “Cause” exists in good faith. The foregoing definition shall not in any way preclude or restrict the
right of the Company or any successor or affiliate thereof to discharge or dismiss you for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of this Amended Agreement, to constitute grounds for
termination for Cause. 

  

	 	•	 	 For purposes of this Amended Agreement, “Change in Control” means (a) a merger or
consolidation of the Company with or into any other corporation or other entity or person, (b) a sale, lease, exchange or other transfer in one transaction or a series of related transactions of all or substantially all of the Company’s
assets, or (c) any other transaction, including the sale by the Company of new shares of its capital stock or a transfer of existing shares of capital stock of the Company, the result of which is that a third party that is not an affiliate of
the Company or its stockholders (or a group of third parties not affiliated with the Company or its stockholders) immediately prior to such transaction acquires or holds capital stock of the Company representing a majority of the Company’s
outstanding voting power immediately following such transaction; provided that the following events shall not constitute a “Change in Control”: (i) a transaction (other than a sale of all or substantially all of the Company’s
assets) in which the holders of the voting securities of the Company immediately prior to the merger or consolidation hold, directly or indirectly, at least a majority of the voting securities in the successor corporation or its parent

	 	 
immediately after the merger or consolidation; (ii) a sale, lease, exchange or other transaction in one transaction or a series of related transactions of all or substantially all of the
Company’s assets to an affiliate of the Company; (iii) an initial public offering of any of the Company’s securities; (iv) a reincorporation of the Company solely to change its jurisdiction; or (v) a transaction undertaken
for the primary purpose of creating a holding company that will be owned in substantially the same proportion by the persons who held the Company’s securities immediately before such transaction. 

 

	 	•	 	 For purposes of this Amended Agreement, “Change in Control Period” means the
period commencing on the date of a Change in Control and ending 12 months following such Change in Control. 

  

	 	•	 	 For purposes of this Amended Agreement, “CIC Severance Period” means (a) if your
Qualifying Termination occurs during the Change in Control Period and prior to the first anniversary of your hire date, 3 months; (b) if your Qualifying Termination occurs during the Change in Control Period and on or after the first
anniversary of your hire date but prior to the second anniversary of your hire date, 6 months; or (c) if your Qualifying Termination occurs during the Change in Control Period and on or after the second anniversary of your hire date, 9 months.

  

	 	•	 	 For purposes of this Amended Agreement, “Good Reason” means any of the following without
your written consent: (a) a material diminution in your authority, duties or responsibilities; (b) a material diminution in your base compensation, unless such a reduction is imposed across-the-board to senior management of the Company; (c) a material change in the geographic location at which you must perform your duties; or (d) any other action or inaction that constitutes a
material breach by the Company or any successor or affiliate of its obligations to you under this Amended Agreement. You must provide written notice to the Company of the occurrence of any of the foregoing events or conditions without your written
consent within 60 days of the occurrence of such event. The Company or any successor or affiliate shall have a period of 30 days to cure such event or condition after receipt of written notice of such event from you. Your termination of employment
by reason of resignation from employment with the Company for Good Reason must occur within 30 days following the expiration of the foregoing 30-day cure period. 

 

	 	•	 	 For purposes of this Amended Agreement, “Non-CIC Severance
Period” means, provided your Qualifying Termination does not occur during the Change in Control Period, (a) if your Qualifying Termination occurs prior to the first anniversary of your hire date, 2 months; (b) if your
Qualifying Termination occurs on or after the first anniversary of your hire date but prior to the second anniversary of your hire date, 4 months; or (c) if your Qualifying Termination occurs on or after the second anniversary of your hire
date, 6 months. 

  

	 	•	 	 For purposes of this Amended Agreement, “Stock Awards” means all stock options,
restricted stock and such other awards granted pursuant to the Plan or the Company’s other stock option and equity incentive award plans or agreements, as in effect from time to time, and any shares of stock issued upon exercise or settlement
thereof, including the Stock Options. 

  

	 	•	 	 To the extent applicable, this Amended Agreement shall be interpreted in accordance with Section 409A of the
Code and Department of Treasury regulations and other interpretive guidance issued thereunder. The intent of the parties is that payments and benefits under this Amended Agreement comply with, or be exempt from Section 409A of the Code and,
accordingly, to the maximum extent permitted, this Amended Agreement shall be interpreted to be in compliance with such intention. To the extent that any provision in this Amended Agreement is ambiguous as to its compliance with or exemption
from Section 409A of the Code, the provision shall be read in such a manner that no payments payable under this Amended Agreement shall be subject to an “additional tax” as defined in Section 409A(a)(1)(B) of the Code. For
purposes of Section 409A of the Code, any right to a series of installment payments under this Amended Agreement shall be treated as a right to a series of separate payments. For

	 	 
purposes of this Amended Agreement, to the extent that the payments or benefits under this Amended Agreement are “non-qualified deferred
compensation” subject to Section 409A of the Code or as otherwise required to ensure such payments or benefits are exempt from or comply with Section 409A of the Code, all references to your “termination of employment” shall
mean your “separation from service” (as defined in Treasury Regulation Section 1.409A-1(h)) (“Separation from Service”). If you are a “specified
employee” (as defined in Section 409A of the Code), as determined by the Company in accordance with Section 409A of the Code, on the date of your Separation from Service, to the extent that the payments or benefits under this Amended
Agreement are “non-qualified deferred compensation” subject to Section 409A of the Code and the delayed payment or distribution of all or any portion of such amounts to which you are entitled
under this Amended Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, then such portion deferred pursuant to this paragraph shall be paid or distributed to you in a lump sum on the
earlier of (a) the date that is 6 months and one day following your Separation from Service, (b) the date of your death or (c) the earliest date as is permitted under Section 409A of the Code. Any remaining payments due under
this Amended Agreement shall be paid as otherwise provided herein. 

  

	 	•	 	 To the extent that the payments or benefits under this Amended Agreement are
“non-qualified deferred compensation” subject to Section 409A of the Code, if the period during which you may deliver the Release required hereunder spans two calendar years, the payment of your
post-termination benefits shall occur on the later of (a) January 1 of the second calendar year, or (b) the first regularly-scheduled payroll date following the date your Release becomes effective. 

 

	 	•	 	 Any reimbursement of expenses or in-kind benefits payable under this
Amended Agreement shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of your taxable year following the taxable year in
which you incurred the expenses. The amount of expenses reimbursed or in-kind benefits payable in one year shall not affect the amount eligible for reimbursement or
in-kind benefits payable in any other taxable year of yours, and your right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit. 

• SECTION 280G TREATMENT. 

 

	 	•	 	 In the event that any payment or benefit received or to be received by you pursuant to the terms of any plan,
arrangement or agreement (including any payment or benefit received in connection with a change of control or the termination of your employment) (all such payments and benefits being hereinafter referred to as the “Total
Payments”) would be subject (in whole or part) to the excise tax (the “Excise Tax”) imposed under Section 4999 of the Code, then the Total Payments shall be reduced to the extent necessary so that no portion
of the Total Payments is subject to the Excise Tax but only if (a) the net amount of such Total Payments, as so reduced (after subtracting the amount of federal, state and local income taxes on such reduced Total Payments and after taking into
account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (b) the net amount of such Total Payments without such reduction (after subtracting the net amount of
federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which you would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal
exemptions attributable to such unreduced Total Payments); provided, however, that this sentence shall not apply if, immediately before the change in ownership or control on which such Total Payments are contingent or otherwise relate,
no stock in the Company is readily tradeable on an established securities market or otherwise (as determined in accordance with Treasury Reg. Section 1.280G-1 Q&A 6). The Total Payments shall be
reduced in the following order: (i) reduction of any cash severance payments otherwise payable to you that are exempt from Section 409A of the Code, (ii) reduction of any other cash payments or benefits otherwise payable to you that
are exempt from Section 409A of the Code, but excluding any payment attributable to the acceleration of vesting or payment with respect to 

	 	 
any equity award with respect to the Company’s common stock that is exempt from Section 409A of the Code, (iii) reduction of any other payments or benefits otherwise payable to you
on a pro-rata basis or such other manner that complies with Section 409A of the Code, but excluding any payment attributable to the acceleration of vesting and payment with respect to any equity award
with respect to the Company’s common stock that is exempt from Section 409A of the Code, and (iv) reduction of any payments attributable to the acceleration of vesting or payment with respect to any equity award with respect to the
Company’s common stock that is exempt from Section 409A of the Code; provided, in case of clauses (ii), (iii) and (iv), that reduction of any payments or benefits attributable to the acceleration of vesting of Company equity awards shall
be first applied to Company equity awards that would otherwise vest last in time. The foregoing reductions shall be made in a manner that results in the maximum economic benefit to you on an after-tax basis
and, to the extent economically equivalent payments or benefits are subject to reduction, in a pro rata manner. 

  

	 	•	 	 All determinations regarding the application of this “Section 280G Treatment” section shall be
made by an accounting firm or consulting group with nationally recognized standing and substantial expertise and experience in performing calculations regarding the applicability of Section 280G of the Code and the Excise Tax retained by the
Company prior to the date of the applicable change in control (the “280G Firm”). For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (a) no portion of the
Total Payments shall be taken into account which, in the written opinion of the 280G Firm, (i) does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of
Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, or (ii) constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the “base
amount” (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation, (b) no portion of the Total Payments the receipt or enjoyment of which you shall have waived at such time and in such manner as not to
constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account, and (c) the value of any non-cash benefit or any deferred payment or benefit included
in the Total Payments shall be determined by the 280G Firm in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. All determinations related to the calculations to be performed pursuant to this this
“Section 280G Treatment” section shall be done by the 280G Firm. 

  

	 	•	 	 The 280G Firm will be directed to submit its determination and detailed supporting calculations to both you and
the Company within 15 days after notification from either the Company or you that you may receive payments which may be “parachute payments.” You and the Company will each provide the 280G Firm access to and copies of any books, records,
and documents in their possession as may be reasonably requested by the 280G Firm, and otherwise cooperate with the 280G Firm in connection with the preparation and issuance of the determinations and calculations contemplated by this Amended
Agreement. The fees and expenses of the 280G Firm for its services in connection with the determinations and calculations contemplated by this Amended Agreement will be borne by the Company. 

 

	 	•	 	 Notwithstanding the foregoing, if any portion of the Total Payments would not be subject to the Excise Tax if the
stockholder approval requirements of Section 280G(b)(5) of the Code are satisfied, subject to your waiver of the rights to such portion of the Total Payments in accordance with and to the extent required by Section 280G of the Code with
respect to any portion of the Total Payments that would otherwise be subject to excise tax imposed by Section 4999 of the Code (before giving effect to any reduction in the Total Payments contemplated above), the Company shall use its
reasonable best efforts to cause such payments to be submitted for such approval prior to the event giving rise to such payments. To the extent the Company submits any payment or benefit payable to you under this Amended Agreement or otherwise to
the Company’s stockholders for approval in accordance with Treasury Reg. Section 1.280G-1 Q&A 7, the foregoing provisions under this “Section 280G Treatment” section shall not
apply following such submission and such payments and benefits will be treated in accordance with the results of such vote, except that any reduction in, or waiver of, such payments or benefits required by such vote will be applied without any
application of discretion by you and in the order prescribed in the preceding paragraph. 

 • COMPANY POLICIES AND
PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT. As an employee of the Company, you shall be expected to abide by all of the Company’s policies and procedures and
the Company’s employee handbook, if any. You have executed and agree to abide by the terms of the Company’s form of Proprietary Information and Inventions Agreement, which shall survive termination of your employment with the Company and
the termination of this Amended Agreement. You acknowledge that a remedy at law for any breach or threatened breach by you of the provisions of the Proprietary Information and Inventions Agreement would be inadequate, and you therefore agree that
the Company shall be entitled to injunctive relief in case of any such breach or threatened breach. The Company may modify, revoke, suspend or terminate any of the terms, plans, policies and/or procedures described in the employee handbook, if any,
or as otherwise communicated to you, in whole or part, at any time, with or without notice. Notwithstanding the foregoing, or anything contained in the Proprietary Information and Inventions Agreement, you acknowledge that you will not be held
criminally or civilly liable for (a) the disclosure of confidential or proprietary information that is made in confidence to a government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of
law, or (b) disclosure of confidential or proprietary information in a made in a complaint or other document filed in a lawsuit or other proceeding under seal or pursuant to court order. 

• OTHER AGREEMENTS. You represent and agree that your performance of your duties for the Company
shall not violate any agreements, obligations or understandings that you may have with any third party or prior employer. You agree not to make any unauthorized disclosure or use, on behalf of the Company, of any confidential information belonging
to any of your former employers. You also represent that you are not in unauthorized possession of any materials containing a third party’s confidential and proprietary information. While employed by the Company, you will not engage in any
business activity in competition with the Company nor make preparations to do so. In the event that you wish to undertake a business activity outside the scope of your employment by the Company, which activity you believe entails no conflict with
the Company’s activities, you agree to inform the Company of your intentions prior to the initiation of such outside business activity, and you furthermore agree to abide by the Company’s decision as to whether or not there is no conflict.
If, in the Company’s sole determination, a conflict exists or is likely to develop, you agree not to undertake such outside business activity. 

• AT-WILL EMPLOYMENT. Your employment with
the Company will be “at-will” at all times, meaning that either you or the Company will be entitled to terminate your employment at any time and for any reason, with or without Cause. Any contrary
representations that may have been made to you are superseded by this offer. This Amended Agreement in no way represents a fixed-term employment contract. This is the full and complete agreement between you and the Company on this term. Although
your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement
signed by you and a duly authorized officer of the Company. 
 •
NON-INTERFERENCE. While employed by the Company, and for one year immediately following the date on which you terminate employment or otherwise cease providing services to
the Company, you agree not to interfere with the business of the Company by (a) soliciting or attempting to solicit any employee or consultant of the Company to terminate such employee’s or consultant’s employment or service in order
to become an employee, consultant or independent contractor to or for any other person or entity or (b) soliciting or attempting to solicit any vendor, supplier, customer or other person or entity either directly or indirectly, to direct his,
her or its purchase of the Company’s products and/or services to any person, firm, corporation, institution or other entity in competition with the business of the Company. Your duties under this paragraph shall survive termination of your
employment with the Company and the termination of this Amended Agreement. 
 • DISPUTE
RESOLUTION. Unless otherwise prohibited by law or specified below, all disputes, claims and causes of action, in law or equity, arising from or relating to this Amended Agreement or its enforcement, performance,
breach, or interpretation shall be resolved solely and exclusively by final and binding arbitration held in San Diego, California through Judicial Arbitration & Mediation Services/Endispute (“JAMS”) under the then
existing JAMS arbitration rules. The rules may be found online at www.jamsadr.com or upon written request to the Company. This 

 
paragraph is intended to be the exclusive method for resolving any and all claims by the parties against each other relating to your employment; provided that you will retain the right to
file administrative charges with or seek relief through any government agency of competent jurisdiction, and to participate in any government investigation, including but not limited to (a) claims for workers’ compensation, state
disability insurance or unemployment insurance; (b) claims for unpaid wages or waiting time penalties brought before the California Division of Labor Standards Enforcement (provided that any appeal from an award or from denial of an
award of wages and/or waiting time penalties shall be arbitrated pursuant to the terms of this paragraph; and (c) claims for administrative relief from the United States Equal Employment Opportunity Commission and/or the California Department
of Fair Employment and Housing (or any similar agency in any applicable jurisdiction other than California); provided, further, that you will not be entitled to obtain any monetary relief through such agencies other than workers’
compensation benefits or unemployment insurance benefits. Further, nothing in this paragraph is intended to prevent either party from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration,
including without limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction. Seeking any such relief shall not be deemed to
be a waiver of such party’s right to compel arbitration.    Each party in any such arbitration shall be responsible for its own attorneys’ fees, costs and necessary disbursement; provided, however, that if one
party refuses to arbitrate and the other party seeks to compel arbitration by court order, if such other party prevails, it shall be entitled to recover reasonable attorneys’ fees, costs and necessary disbursements. Each party warrants that it
has had the opportunity to be represented by counsel in the negotiation and execution of this Amended Agreement, including the attorneys’ fees provision herein. Both you and the Company expressly waive your right to a jury trial. 

• SEVERABILITY. Whenever possible, each provision of this Amended Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Amended Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Amended Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provisions had never been contained herein. 
 • SUCCESSORS AND
ASSIGNS. This Amended Agreement is intended to bind and inure to the benefit of and be enforceable by you and the Company, and their respective successors, assigns, heirs, executors and administrators,
except that you may not assign any of your duties hereunder and you may not assign any of your rights hereunder, without the written consent of the Company, which shall not be withheld unreasonably. 

• ENTIRE AGREEMENT. This Amended Agreement and the Proprietary Information and Inventions Agreement
constitute the complete, final and exclusive embodiment of the entire agreement between you and the Company with respect to the terms and conditions of your employment specified herein and therein, including, without limitation, the Original
Agreement. This Amended Agreement and the Proprietary Information and Inventions Agreement supersede any other such promises, warranties, representations or agreements between you and the Company. This Amended Agreement may not be amended or
modified except by a written instrument signed by you and a duly authorized officer of the Company. 
 • GOVERNING
LAW. This Amended Agreement will be governed by and construed in accordance with the laws of the State of California without regard to the conflicts of law provisions thereof. 

If you choose to accept this Amended Agreement under the terms described above, please acknowledge your acceptance of by returning a signed copy of this
Amended Agreement to our attention. 

 Sincerely, 

Erasca, Inc. 
  

			
		 	/s/ Jonathan Lim
	  

	Name:	 	Jonathan Lim, M.D.
	Title:	 	Chairman, CEO and Co-Founder

 Agreed and Accepted:  

I have read and understood this Amended Agreement and hereby acknowledge, accept and agree to the terms as set forth above and further
acknowledge and agree that no other commitments were made to me in connection with this Amended Agreement except as specifically set forth herein.  
  

									
	 /s/ David Chacko
	 	            	  	 Date: 
	 	 March 20,
2020                                
	  	
                   
     

	David ChackoEX-10.8

 Exhibit 10.8 

GENERAL RELEASE OF CLAIMS 

THIS GENERAL RELEASE OF CLAIMS (this “Release”) is entered into by and between Erasca, Inc., a Delaware corporation (the
“Company”), and Gary Yeung, MBA, CFA (“Employee”), as of the Effective Date (as defined below). 

WHEREAS, Employee’s employment with the Company will terminate effective December 15, 2020 (the “Separation Date”);

 WHEREAS, the parties agree that the Company has offered to Employee the termination payment provided in Section 2(d) below, which
represent amounts to which Employee was not otherwise entitled, in connection with his termination of employment on the terms and conditions set forth herein, subject to Employee’s execution and
non-revocation of this Release; and 
 WHEREAS, the Company and Employee now wish to fully and
finally resolve all matters between them. 
 NOW, THEREFORE, in consideration of, and subject to, the termination payment payable to
Employee described in Section 2(d) below, the adequacy of which is hereby acknowledged by Employee, and which Employee acknowledges that he would not otherwise be entitled to receive, Employee and the Company hereby agree as follows: 

1. Effective Date; Termination of Employment. 

(a) Effective Date. This Release shall become effective upon Employee’s execution of the Release (which shall occur no earlier than
the Separation Date) and the expiration of the revocation period applicable under Section 3(d) without Employee having given notice of revocation. The “Effective Date” shall be the eighth (8th) day following Employee’s execution of this Release without revocation. Employee understands that Employee will not be given any termination payment under Section 2(d) of this Release
unless the Effective Date occurs on or before the date that is thirty (30) days following the Separation Date. In the event the Effective Date does not occur on or before the date that is thirty (30) days following the Separation Date,
this Release shall be null and void. 
 (b) Termination of Employment. Employee has previously tendered his resignation to the
Company, effective as of the Separation Date. Accordingly, Employee’s employment by the Company will terminate effective as of Separation Date. Employee hereby resigns from any and all titles or positions he may hold with the Company (and any
of its affiliates and subsidiaries) effective as of the Separation Date, including his position as Chief Operating Officer and Chief Financial Officer as well as any board positions he holds with any subsidiaries of the Company. Employee shall
execute any additional documentation necessary to effectuate such resignations. Employee’s “separation from service” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”),
shall be the Separation Date. 
 2. Compensation. 

(a) Compensation Through Separation Date. On the Separation Date, the Company shall issue to Employee his final paycheck, reflecting
(i) Employee’s fully earned but unpaid base salary, through the Separation Date at the rate then in effect, and (ii) all accrued, unused paid time off or vacation due Employee through the Separation Date. Subject to Section 2(b)
below, Employee acknowledges and agrees that with his final check, Employee will have received all monies, bonuses, commissions, expense reimbursements, paid time off or vacation, or other compensation he earned or was due during his employment by
the Company. 
  

 (b) Expense Reimbursements. The Company, within thirty (30) days after the
Separation Date, will reimburse Employee for any and all reasonable and necessary business expenses incurred by Employee in connection with the performance of his job duties prior to the Separation Date, which expenses shall be submitted to the
Company with supporting receipts and/or documentation no later than thirty (30) days after the Separation Date. 
 (c) Benefits.
Employee’s entitlement to benefits from the Company, and eligibility to participate in the Company’s benefit plans, shall cease on the Separation Date, except to the extent Employee elects to and is eligible to receive continued healthcare
coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), for himself and any covered dependents, in accordance with the provisions of COBRA. 

(d) Termination Benefit. In exchange for Employee’s agreement to be bound by the terms of this Release, including, but not limited
to, the release of claims in Section 3, and subject to the occurrence of the Effective Date as provided in Section 1(a), Employee shall be entitled to receive a cash payment in the amount of $99,600, representing Employee’s target
annual bonus for 2020, payable in a lump sum on the first regularly scheduled payroll date following the Effective Date, subject to applicable withholdings. The payment in this Section 2(d) shall be the exclusive termination benefits to which
Employee is entitled, unless Employee has failed to comply with the provisions of this Release (including Section 2(f) regarding the return of Company property), in which case the last sentence of Section 4(a) shall apply. 

(e) Forfeiture or Repurchase of Certain Restricted Shares. Employee previously received or purchased the following shares of common
stock of the Company: 
 (i) 500,000 shares of the Company’s common stock (the “July 2018 Shares”) issued to Employee
pursuant to that certain Restricted Stock Grant Notice and Restricted Stock Agreement dated July 16, 2018 (the “July 2018 RSA”). As of the Separation Date, 291,666 of the July 2018 Shares were vested and 208,334 of the July
2018 Shares were unvested. Effective as of the Separation Date, pursuant to Section 2(a) of the July 2018 RSA, all of the 208,334 unvested July 2018 Shares will automatically be forfeited by Employee for no consideration and without any further
action by the Company. 
 (ii) 300,000 shares of the Company’s common stock (the “First Tranche December 2019 Shares”)
purchased by Employee on February 18, 2020 upon the early exercise of stock options granted to him by the Company pursuant to that certain Stock Option Grant Notice and Stock Option Agreement dated December 11, 2019 (the “First
December 2019 Option Agreement”), at a purchase price per share of $0.56. As of the Separation Date, 100,000 of the First Tranche December 2019 Shares were vested and 200,000 of the First Tranche December 2019 Shares were unvested.
Effective as of the Separation Date, pursuant to Section 2(a) of the First Tranche December 2019 Option Agreement, all 200,000 of the unvested First Tranche December 2019 Shares are hereby repurchased by the Company at a repurchase price of
$0.56 per share, for an aggregate repurchase price of $112,000.00. 
 (iii) 200,000 shares of the Company’s common stock (the
“Second Tranche December 2019 Shares”) purchased by Employee on February 18, 2020 upon the early exercise of stock options granted to him by the Company pursuant to that certain Stock Option Grant Notice and Stock Option
Agreement dated December 11, 2019 (the “Second December 2019 Option Agreement”), at a purchase price per share of $0.56. As of the Separation Date, 50,000 of the Second Tranche December

  
 2 

 
2019 Shares were vested and 150,000 of the Second Tranche December 2019 Shares were unvested. Effective as of the Separation Date, pursuant to Section 2(a) of the Second December 2019 Option
Agreement, all 150,000 of the unvested Second Tranche December 2019 Shares are hereby repurchased by the Company at a repurchase price of $0.56 per share, for an aggregate repurchase price of $84,000.00. 

(iv) 646,522 shares of the Company’s common stock (the “September 2020 Shares”) purchased by Employee on October 5,
2020 upon the early exercise of stock options granted to him by the Company pursuant to that certain Stock Option Grant Notice and Stock Option Agreement dated September 23, 2020 (the “September 2020 Option Agreement”), at a
purchase price per share of $1.04. As of the Separation Date, 26,938 of the September 2020 Shares were vested and 619,584 of the September 2020 Shares were unvested. Effective as of the Separation Date, pursuant to Section 2(a) of the September
2020 Option Agreement, all 619,584 of the unvested September 2020 Shares are hereby repurchased by the Company at a repurchase price of $1.04 per share, for an aggregate repurchase price of $644,367.36. 

(v) The aggregate repurchase price payable pursuant to clauses (e)(ii), (iii) and (iv) above of $840,367.36 was paid by the Company to
Employee on the Separation Date by delivery of a check or wire transfer of the aggregate purchase price. The foregoing forfeiture and repurchases from the Employee was effective on the books and records of the Company as of the Separation Date,
regardless of whether or not Employee returns to the Company his original stock certificate(s) representing the forfeited or repurchased shares. Employee agrees that any original stock certificate(s) for his forfeited and repurchased shares shall be
cancelled, or an appropriate entry made on the Company’s stock ledger reflecting such forfeiture and repurchases, and the Company agrees to issue new stock certificate(s) or make new book entries on its stock ledger representing any remaining
vested shares which he will continue to own following the foregoing repurchase. Any remaining vested shares will remain subject to the terms of the equity plan and award agreements pursuant to which they were originally issued. The foregoing
forfeiture and repurchases shall be effective as of the Separation Date without regard to the effectiveness of this Release or the occurrence of the Effective Date. 

(f) Return of the Company’s Property. On the Separation Date, and prior to the payment of any amounts to Employee under
Section 2(d) above, Employee shall immediately surrender to the Company all Company equipment, lists, books and records of, or in connection with, the Company’s business, and all other property belonging to the Company, including, without
limitation, Employee’s Company-issued laptop, it being distinctly understood that all such equipment, lists, books and records, and other documents, are the property of the Company and shall be returned with all stored data and files intact.

 3. General Release of Claims by Employee. 

(a) Employee, on behalf of himself and his executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever
discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited
partners, employees, attorneys, agents and representatives, and the employee benefit plans in which Employee is or has been a participant by virtue of his employment with or service to the Company (collectively, the “Company
Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation,
responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”),
which Employee has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the 

  
 3 

 
date hereof, arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Employee’s employment by or service to the Company or the termination
thereof, including any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or
liability in tort, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the
Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et
seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the “ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41
C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee Retirement Income Security Act, as amended, 29
U.S.C. § 1001 et seq.; and the California Fair Employment and Housing Act, California Government Code Section 12940, et seq. 

Notwithstanding the generality of the foregoing, Employee does not release the following: 

(i) Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law; 

(ii) Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of
the Company; 
 (iii) Claims pursuant to the terms and conditions of the federal law known as COBRA; 

(iv) Claims for indemnity under the bylaws of the Company, as provided for by California law (including California Labor Code
Section 2802) or under any applicable insurance policy with respect to Employee’s liability as an employee of the Company; 
 (v)
Claims based on any right Employee may have to enforce the Company’s executory obligations under this Release; 
 (vi) Employee’s
right to bring to the attention of the Equal Employment Opportunity Commission or the California Department of Fair Employment and Housing claims or any other federal, state or local government agency of discrimination, harassment, retaliation or
failure to accommodate, or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission or any other federal, state or local government agency; provided, however, that Employee does
release his right to secure any damages for any such alleged treatment; 
 (vii) Employee’s right to communicate or cooperate with any
government agency; and 
 (vii) Any other Claims that cannot be released as a matter of law. 

  
 4 

 (b) EMPLOYEE ACKNOWLEDGES THAT HE HAS BEEN ADVISED OF AND IS FAMILIAR WITH THE PROVISIONS OF
CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR
RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.” 

BEING AWARE OF SAID CODE SECTION, EMPLOYEE HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR
COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 (c) Employee acknowledges that this Release was presented to him on December 14, 2020, and
that, prior to signing this Release, Employee was given at least twenty-one (21) days’ time in which to consider it. Employee further acknowledges that the Company has advised him that he is waiving
his rights under the ADEA, and that Employee should consult with an attorney of his choice before signing this Release, and Employee has had sufficient time to consider the terms of this Release. Employee represents and acknowledges that if Employee
executes this Release before the foregoing twenty-one (21) days have elapsed, Employee does so knowingly, voluntarily, and upon the advice and with the approval of Employee’s legal counsel (if any),
and that Employee voluntarily waives any remaining consideration period. 
 (d) Employee understands that after executing this Release,
Employee has the right to revoke it within seven (7) days after his execution of it. Employee understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Employee does not
revoke the Release in writing. Employee understands that this Release may not be revoked after the seven (7) day revocation period has passed. Employee also understands that any revocation of this Release must be made in writing and delivered
to Lorraine Lockwood, Senior Director, Human Resources of the Company, at the Company’s principal place of business, within the foregoing seven (7) day period. 

(e) Employee understands that this Release shall become effective, irrevocable, and binding upon Employee on the eighth (8th) day after his
execution of it, so long as Employee has not revoked it within the time period and in the manner specified in clause (d) above. 
 4.
Confirmation of Continuing Obligations. 
 (a) Employee hereby expressly reaffirms his obligations under that certain Proprietary
Information and Inventions Agreement executed by Employee on July 18, 2018 (the “PIIA”), a copy of which is attached to this Release as Exhibit A and incorporated herein by reference, and agrees that such obligations
shall survive the Separation Date and any termination of his services to the Company. The Company shall be entitled to cease all termination payments to Employee in the event of his non-compliance with this
Section 4. 
 (b) Employee agrees that, for a period of twelve (12) months after the Separation Date, Employee will not, either
directly or through others, solicit or encourage or attempt to solicit or encourage any employee, independent contractor, or consultant of the Company to terminate his or her relationship with the Company in order to become an employee, consultant
or independent contractor to or for any other person or entity. 
 (c) Employee agrees that he shall not disparage or otherwise communicate
negative statements or opinions about the Company, its board members, officers, employees, shareholders or agents; provided, however, that Employee shall not be prohibited from making such statements or opinions to his immediate family
so long as such statements or opinions are not likely to be harmful to 

  
 5 

 
the Company, its board members, officers, employees, shareholders or agents or its or their businesses, business reputations, or personal reputations. The Company agrees that neither its board
members nor officers shall disparage or otherwise communicate negative statements or opinions about Employee. Except as may be required by law, neither Employee, nor any member of Employee’s family, nor anyone else acting by, through, under or
in concert with Employee will disclose to any individual or entity (other than Employee’s legal or tax advisors) the terms of this Release. Nothing in this Section 4(c) shall prohibit Employee from (i) testifying in any legal
proceeding in which he testimony is compelled by law or court order and no breach of this provision shall occur due to any accurate, legally compelled testimony or (ii) communicating or cooperating with any government agency. 

(d) Employee acknowledges that the Company has provided him with the following notice of immunity rights in compliance with the requirements of
the Defend Trade Secrets Act: (i) Employee shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of Proprietary Information (as defined in the PIIA) that is made in confidence to a
Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, (ii) Employee shall not be held criminally or civilly liable under any Federal or State trade
secret law for the disclosure of Proprietary Information that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and (iii) if Employee files a lawsuit for retaliation by the
Company for reporting a suspected violation of law, Employee may disclose the Proprietary Information to his attorney and use the Proprietary Information in the court proceeding, if Employee files any document containing the Proprietary Information
under seal, and does not disclose the Proprietary Information, except pursuant to court order. 
 5. Arbitration. Unless otherwise
prohibited by law or specified below, all disputes, claims and causes of action, in law or equity, arising from or relating to this Release or its enforcement, performance, breach, or interpretation shall be resolved solely and exclusively by final
and binding arbitration held in San Diego, California through Judicial Arbitration & Mediation Services/Endispute (“JAMS”) under the then existing JAMS arbitration rules. The rules may be found online at
www.jamsadr.com or upon written request to the Company. This Section 5 is intended to be the exclusive method for resolving any and all claims by the parties against each other relating to Employee’s employment or the
termination thereof; provided that Employee will retain the right to file administrative charges with or seek relief through any government agency of competent jurisdiction, and to participate in any government investigation, including but
not limited to (a) claims for workers’ compensation, state disability insurance or unemployment insurance; (b) claims for unpaid wages or waiting time penalties brought before the California Division of Labor Standards Enforcement
(provided that any appeal from an award or from denial of an award of wages and/or waiting time penalties shall be arbitrated pursuant to the terms of this Section 5; and (c) claims for administrative relief from the United States
Equal Employment Opportunity Commission and/or the California Department of Fair Employment and Housing (or any similar agency in any applicable jurisdiction other than California); provided, further, that, except as otherwise provided
by law, you will not be entitled to obtain any monetary relief through such agencies other than workers’ compensation benefits or unemployment insurance benefits. Further, nothing in this Section 5 is intended to prevent either party from
obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration, including without limitation injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure
§ 1281.8 or any similar statute of an applicable jurisdiction. Seeking any such relief shall not be deemed to be a waiver of such party’s right to compel arbitration. The Company shall pay all costs of arbitration, including
without limitation, arbitration administrative fees, arbitrator compensation and expenses, and costs of any witnesses called by the arbitrator. Unless otherwise ordered by the arbitrator under applicable law, the Company and Employee shall each
bear its or his own expenses, such as attorneys’ fees, costs and disbursements. Nothing herein shall prevent the Company or Employee from seeking a statutory award of reasonable attorneys’ fees and costs. Each party warrants that it
has had the opportunity to be represented by counsel in the negotiation 

  
 6 

 
and execution of this Release. Both Employee and the Company expressly waive his or its right to a jury trial. Employee further waives his right to pursue claims against the Company on a
class basis; provided, however, that Employee does not waive his right, to the extent preserved by law, to pursue representative claims against the Company under the California Private Attorney General Act. 

6. Miscellaneous. 
 (a)
Assignment; Assumption by Successor. The rights of the Company under this Release may, without the consent of Employee, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business
entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company. The Company will require any successor (whether direct or indirect, by purchase,
merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Release in the same manner and to the same extent that the Company would be required to perform it if no such
succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder. As used in this Release, the “Company” shall mean the Company as hereinbefore defined and
any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Release by operation of law or otherwise. 

(c) Survival. The covenants, agreements, representations and warranties contained in or made in Sections 2, 3, 4, 5 and 6 of this
Release shall survive Employee’s termination of employment or any termination of this Release. 
 (d) Severability. In the event
any provision of this Release is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended
that the Parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and
the validity and enforceability of the remaining provisions shall not be affected thereby. 
 (e) Interpretation; Construction. The
headings set forth in this Release are for convenience only and shall not be used in interpreting this Release. This Release has been drafted by legal counsel representing the Company, but Employee has participated in the negotiation of its terms.
Furthermore, Employee acknowledges that Employee has had an opportunity to review and revise the Release and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation of this Release. Either party’s failure to enforce any provision of this Release shall not in any way be construed as a waiver of any such provision, or prevent
that party thereafter from enforcing each and every other provision of this Release. 
 (d) Governing Law and Venue. This Release is
to be governed by and construed in accordance with the laws of the United States of America and the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles
thereof. Except as provided in Section 5, any suit brought hereon shall be brought in the state or federal courts sitting in San Diego, California, the parties hereto hereby waiving any claim or defense that such forum is not convenient or
proper. Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by California law. 

  
 7 

 (e) Entire Agreement; Modification. This Release and the PIIA set forth the entire
understanding of the parties with respect to the subject matter hereof and supersede all existing agreements between them concerning such subject matter, including without limitation, that certain offer letter dated February 5, 2020, between
Employee and the Company. Employee expressly acknowledges and agrees that he is not eligible for any severance or termination benefits under such offer letter, which is hereby terminated. This Release may be amended or modified only with the written
consent of Employee and an authorized representative of the Company. No oral waiver, amendment or modification will be effective under any circumstances whatsoever. 

(f) Counterparts. This Release may be executed in one or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same Release. 
 (g) Withholding and other Deductions. All compensation payable to Employee
hereunder shall be subject to such deductions as the Company is from time to time required to make pursuant to law, governmental regulation or order. 

(h) Section 409A. 

(i) It is intended that all of the termination benefits and other payments payable under this Release satisfy, to the greatest extent
possible, the exemptions from the application of Section 409A of the Code provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), and this Release will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this Release (and any definitions hereunder) will be construed
in a manner that complies with Section 409A of the Code.     
 (ii) To the extent applicable, this
Release shall be interpreted in accordance with the applicable exemptions from Section 409A of the Code. To the extent that any provision of the Release is ambiguous as to its compliance with Section 409A of the Code, the provision shall
be read in such a manner that no payments payable under this Release shall be subject to an “additional tax” as defined in Section 409A(a)(1)(B) of the Code. 

(iii) For purposes of Section 409A of the Code, Employee’s right to receive any installment payments pursuant to this Release will
be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Release specifies a payment period with reference to a number of days, the actual date of payment within the specified period will be within
the sole discretion of the Company. 
 (iv) Any reimbursement of expenses or in-kind benefits
payable under this Release shall be made in accordance with Treasury Regulation Section 1.409A-3(i)(1)(iv) and shall be paid on or before the last day of Employee’s taxable year following the taxable
year in which Employee incurred the expenses. The amount of expenses reimbursed or in-kind benefits payable during any taxable year of Employee’s will not affect the amount eligible for reimbursement or in-kind benefits payable in any other taxable year of Employee’s, and Employee’s right to reimbursement for such amounts shall not be subject to liquidation or exchange for any other benefit. 

(i) RIGHT TO ADVICE OF COUNSEL. EMPLOYEE ACKNOWLEDGES THAT HE HAS THE RIGHT, AND IS ENCOURAGED, TO CONSULT WITH HIS LAWYER; BY HIS
SIGNATURE BELOW, EMPLOYEE ACKNOWLEDGES THAT HE HAS CONSULTED, OR HAS ELECTED NOT TO CONSULT, WITH HIS LAWYER CONCERNING THIS RELEASE. 

(Signature Page Follows) 
  

  
 8 

 IN WITNESS WHEREOF, the parties have executed this Release as of the dates set forth below.

  

			
		 	ERASCA, INC.
		
	Date:  December 15,
2020                                         
               	 	By:  /s/ Jonathan
Lim                                         
           
		 	Name:  Jonathan Lim                                
                    
		 	Title:  Chief Executive
Officer                                        

		
		 	EMPLOYEE
	 Date:  December 15,
2020                                         
               
	 	/s/ Gary Yeung                                  
                                  
		 	Gary Yeung, MBA, CFA

  

  
 [SIGNATURE PAGE TO
GENERAL RELEASE OF CLAIMS]

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