Document:

Exhibit 10.17  

 CONSULTING AGREEMENT  

        This CONSULTING AGREEMENT is effective as of April 13, 2010 ("Agreement")
between Anacor Pharmaceuticals, Inc. ("Company") and Christine Gray-Smith ("Consultant"). Company and Consultant are collectively the Parties and each a Party. 

 RECITALS  

        WHEREAS, Company and Consultant entered into a consulting agreement (the "Prior
Consulting Agreement") as part of the "Confidential Separation Agreement and General Release of Claims" (hereinafter the "Prior Agreement"), executed by Company and Consultant and effective as of
April 18, 2009; and 

        WHEREAS, the Prior Consulting Agreement expires on April 30, 2010, unless sooner terminated according to its provisions; and 

        WHEREAS, Company and Consultant wish to continue in mutual compliance with the Prior Agreement and to enter into a new consulting
agreement for a term commencing May 1, 2010. 

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein and other good and valuable consideration, the parties hereto
hereby agree as follows: 

        1.    Appointment.    Effective upon
expiration of the Prior Consulting Agreement, Company hereby engages Consultant to perform the Services described in Section 3 of this Agreement, and Consultant accepts such engagement.
Consultant may not retain third parties to carry out any of her obligations hereunder unless Consultant obtains prior written consent from Company, which consent shall be determined in Company's sole
discretion. 

        2.    Authority of Consultant.    Company and
Consultant hereby acknowledge and agree that Consultant is engaged solely as an independent consultant and that Consultant shall have no authority, either express or implied, to bind Company or to
conclude contracts or execute other documents in the name of, or on behalf of, Company, or to create debts, obligation or liabilities for, or on behalf of, Company. Consultant agrees not to represent
or purport to represent Company in any manner whatsoever to any third party except with prior written consent of Company's CEO. 

        3.    Consulting Services.    Consultant will
be available to the Company as requested by the CEO (or his delegate) to provide financial advice and services (the "Services"). Consultant shall not be required to provide more than five
(5) hours each month in the performance of the Services and Consultant will have the reasonable discretion to schedule the time and location of performance of the Services such that the
Services do not interfere with other obligations of Consultant. 

        4.    Management and Direction.    Consultant
will report to Company's CEO, or his delegate, in connection with the Services. 

        5.    Exclusivity and
Noncompetition.    Company and Consultant agree that Company's engagement of Consultant to execute the Services shall not be exclusive and
that Company may engage another individual or entity to provide the same or similar services. 

        6.    Term.    Consultant's term of service
shall be from May 1, 2010, and, unless earlier terminated in accordance with Section 10, shall automatically expire on April 30, 2011 (the "Term"). 

        7.    Compensation.    Company shall pay
Consultant a monthly retainer of $1,000. In addition, Company shall pay Consultant consulting fees at the rate of $250.00 per hour for any services Consultant provides in excess of five
(5) hours per calendar month (collectively, the "Consulting Fees"). Until the earlier of the end of the Term or the date on which Consultant ceases to be eligible for COBRA coverage under
Company's health insurance plans, Company will pay t the COBRA premiums to continue Consultant's current level of group health insurance coverages through COBRA. Should Consultant's COBRA coverage
expire, Company shall reimburse Consultant for the cost 

 

Consultant
incurs in obtaining comparable health insurance coverage from another source, up to a maximum amount of $495 per month and up until the end of the Term. The Company shall make this payment
to Consultant on the first day of each month following the month in which Consultant provides the invoice showing Consultant's payment of the applicable health insurance premiums. Company shall also
reimburse Consultant for (i) reasonable and documented business expenses incurred during the Term in connection with the Services (including the expenses related to Consultant's Blackberry),
provided that any such expenses in excess of $250.00 will require advance written approval by the CEO. The monthly retainer will be paid on the first day of each month during the Term. Consultant
shall provide an invoice at the end of each month showing all Services rendered and the aggregate amount of Consulting Fees, if any, due to Consultant from Company for each such month. Company will
provide payment of the invoiced amount within twenty (20) days following receipt of Consultant's invoice. 

        8.    Stock Options.    Notwithstanding the
terms set forth in the stock option agreements issued to Consultant by Company, vesting with respect to the stock options granted by Company to Consultant and outstanding as of the date of this
Agreement, will cease as of April 30, 2010. All unvested stock options shall be forfeited as of that date. Consultant's vested stock option shares shall remain exercisable during and following
the end of the Term as set forth in Consultant's stock option agreements. 

        9.    Professional Standards;
Representations.    Consultant agrees not to engage in any conduct during the Term that is detrimental to the interests of the Company.
Consultant represents, warrants and covenants that she is currently not bound by any obligation which she would breach by signing this Agreement. 

        10.    Termination.    Without waiving any
other rights or remedies, Company may terminate the Term and its corresponding obligation to pay Consultant any additional Consulting Fees, at any time, for any reason, upon thirty (30) days
written notice. Further, Consultant may terminate the Term at any time, for any reason, upon thirty (30) days written notice to Company, which voluntary termination will extinguish Company's
obligation to pay Consultant any further Consulting Fees. Upon termination of the Term by Company or Consultant for any reason, Company will pay Consultant only those Consulting Fees that
Consultant had earned and expenses incurred through and including the effective date of such termination. 

        11.    Confidentiality.    Consultant hereby
acknowledges her continuing obligations under the Confidential Information and Invention Assignment Agreement with the Company, attached hereto as  Exhibit A. Consultant agrees that during
the Term and thereafter, Consultant will not use or disclose any confidential or proprietary information
or materials of the Company that Consultant obtains or develops in the course of performing the Services. Any and all work product Consultant creates in the course of performing the Services will be
the sole and exclusive property of Company. Consultant hereby assigns to Company all right, title, and interest in all processes, materials, and other intellectual property developed in the course of
performing the Services. 

        12.    Independent Consultant Status.    This
Agreement is intended to create, and creates, a contractual relationship for services to be rendered by the Consultant acting in the ordinary course of her business as an independent Consultant and is
not intended to create, and does not create, a partnership, joint venture, agency or any like relationship between the parties hereto. Moreover, nothing herein shall be construed to imply a
partnership, joint venture, commercial agency, or employer/employee relationship between the parties. Consultant is responsible for Consultant's own acts during the performance of Consultant's
obligations under this Agreement. Consultant shall have no responsibilities or authority as a consultant to the Company other than as provided in this Agreement. 

        13.    Taxes.    Company will not make any
withholdings or deductions, and will issue Consultant a Form 1099, with respect to the Consulting Fees. Consultant shall be responsible for all taxes with 

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respect
to the Consulting Fees, and Consultant agrees to indemnify, hold harmless and defend Company from any and all claims, liabilities, damages, taxes, fines or penalties sought or recovered by any
governmental entity, including but not limited to the Internal Revenue Service or any state taxing authority, arising out of or in connection with the Consulting Fees. 

        14.    General Provisions.    

        14.1 This
Agreement shall be governed by, and be construed in accordance with, the laws of the State of California, without regard to conflicts of laws. 

        14.2 This
Agreement represents the entire understanding of the Parties with respect to the Services and compensation described herein and shall supersede all previous
communications, representations and agreements, either oral or written, between the Parties with respect to the subject matter. No amendment to, or modification of, this Agreement shall be effective
unless in writing and signed by all
Parties. The Parties acknowledge and agree that except as otherwise provided in this Agreement, the Prior Agreement remains in full force and effect. In the event of a conflict between this Agreement
and the Prior Agreement, this Agreement shall prevail. 

        14.3 This
Agreement shall inure to the benefit of, and be binding upon, the Parties hereto and their successors and assigns. 

        14.4 If
any action is brought to enforce the terms of this Agreement, the prevailing party will be entitled to recover her or its reasonable attorneys' fees, costs and
expenses from the other party, in addition to any other relief to which the prevailing party may be entitled. 

        15.    Indemnification.    Consultant shall
indemnify and hold harmless Company, its affiliates or partners, and the respective directors, officers, agents, employees and shareholders of Company or such affiliates or partners from and against
any and all claims, demands, actions, causes of action, losses, costs, expenses (including, but not limited to, reasonable attorney's fees), damages, and liabilities resulting or arising in any manner
from or in connection with (i) Consultant's failure to comply with any regulations or laws in connection with the provision of the Services; or (ii) any breach by Consultant of any of
the representations, warranties or covenants set forth herein. 

        16.    Severability.    Should any of the
provisions of this Agreement be determined to be invalid by a court or governmental agency of competent jurisdiction, the Parties agree that such determination shall not affect the enforceability of
the other provisions herein. 

        17.    Notices.    All notices, demands and
request shall be sent to the following addresses, or such other addresses as may be provided by the parties hereto from time to time: 

If to Company:

Anacor
Pharmaceuticals, Inc.

1020 East Meadow Circle

Palo Alto, CA 94303-4230

Attention: David Perry 

If to Consultant:

Christine
Gray-Smith

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

 

 

							
	 ANACOR PHARMACEUTICALS, INC.	 	 CHRISTINE GRAY-SMITH
	
 By:	
 	
/s/ David Perry

 	
 	
 By:	
 	
/s/ Christine Gray-Smith

 
	
 Title:	
 	
Chief Executive Officer	
 	
 Title:	
 	
Consultant

 

 Exhibit A:
Confidential Information and Invention Assignment Agreement 

4Exhibit 10.18  

 ANACOR PHARMACEUTICALS, INC.  

 BOARD OF DIRECTORS AND ADVISORY BOARD AGREEMENT  

        This Advisory Board Agreement (the "Agreement") is entered into as of
November 9, 2005 between Anacor Pharmaceuticals, Inc., a Delaware corporation (the "Company") and Lucy Shapiro, Ph.D.
("Advisor"). 

        The
parties agree as follows: 

        1.    Services.    Advisor agrees to act as a Co-chair of the Company's Advisory
Board, including attending and participating in each Advisory Board Meeting, and to collaborate and provide advice and assistance to the Company as is mutually agreed by the parties (collectively, the
"Services"). The effective date (the "Effective Date") of this agreement shall be October 1,
2005. 

        2.    Compensation.    Advisor shall not be paid for the Services performed hereunder.
However, subject to approval by the Company's Board of Directors, the Company will issue to Advisor a nonstatutory stock option to purchase 50,000 shares of the Company's Common Stock, with an
exercise price per share equal to the fair market value at the time of grant. Such shares will vest at the rate of 1/24th of the total number of shares on each monthly anniversary
of vesting commencement date, based upon Advisor's
continued service to the Company, as provided in this Agreement and as specified in the Stock Option Agreement between the Company and Advisor. In addition, for each meeting of the Company's
Scientific Advisory Board (minimum of two (2) meetings per year) and the Clinical Advisory Board (minimum of two (2) meetings per year) that you attend, you will receive $5,000. For each
meeting of the Anacor Board of Directors (minimum of six (6) meetings per year), you will receive $5,000. For meetings that you participate by phone, you will receive $2,500. With the advent of
other Boards, you attendance would be compensated at a similar amount per meeting. 

        3.    Expenses.    The Company shall reimburse Advisor for reasonable travel and related
expenses incurred in the course of performing services hereunder, provided, however, that any expenses in excess of $1,000 shall be approved in advance by the Company. 

        4.    Term and Termination.    The term of this Agreement shall be for a period of two years
from the Effective Date, and may be renewed by mutual agreement of the parties; provided, however, that this Agreement may be terminated by either party for any reason upon ten days prior written
notice without further obligation or liability. 

        5.    Independent Contractor.    Advisor's relationship with the Company will be that of an
independent contractor and not that of an employee. Advisor will not be eligible for any employee benefits, nor will the Company make deductions from payments made to Advisor for employment or income
taxes, all of which will be Advisor's responsibility. Advisor agrees to indemnify and hold the Company harmless from any liability for, or assessment of, any such taxes imposed on the Company by
relevant taxing authorities. Advisor will have no authority to enter into contracts that bind the Company or create obligations on the part of the Company without the prior written authorization of
the Company. 

        6.    Nondisclosure of Confidential Information.    

        (a)    Agreement Not to Disclose.    Advisor agrees not to use any Confidential Information (as defined below)
disclosed to Advisor by the Company for Advisor's own use or for any purpose other than to carry out discussions concerning, and the undertaking of, the Services. Advisor shall not disclose or permit
disclosure of any Confidential Information of the Company to third parties other than other members of the Company's Advisory Board. Advisor agrees to take all reasonable measures to protect the
secrecy of and avoid disclosure or use of Confidential Information of the Company in order to prevent it from falling into the public domain or the possession of persons other than those persons
authorized under this Agreement to have any such information. Advisor 

 

further
agrees to notify the Company in writing of any actual or suspected misuse, misappropriation or unauthorized disclosure of the Company's Confidential Information which may come to Advisor's
attention. 

        (b)    Definition of Confidential Information.    "Confidential
Information" means any information, technical data or know-how (whether disclosed before or after the date of this Agreement), including, but not limited to,
information relating to business and product or service plans, financial projections, customer lists, business forecasts, sales and merchandising, human resources, patents, patent applications,
computer object or source code, research, inventions, processes, designs, drawings, engineering, marketing or finance to be confidential or proprietary or which information would, under the
circumstances, appear to a reasonable person to be confidential or proprietary. Confidential Information does not include information, technical data or know-how which: (i) is in
the possession of Advisor at the time of disclosure, as shown by Advisor's files and records immediately prior to the time of disclosure; or (ii) becomes part of the public knowledge or
literature, not as a direct or indirect result of any improper inaction or action of Advisor. 

        (c)    Exceptions.    Notwithstanding the above, Advisor shall not have liability to the Company or any of its
subsidiaries with regard to any Confidential Information of the Company which Advisor can prove: 

          (i)  is
disclosed with the prior written approval of the Company; 

         (ii)  is
disclosed pursuant to the order or requirement of a court, administrative agency, or other governmental body; provided, however, that Advisor shall provide prompt
notice of such court order or requirement to the Company to enable the Company or its appropriate subsidiary to seek a protective order or otherwise prevent or restrict such disclosure. 

        7.    No Duplication; Return of Materials.    Advisor agrees, except as otherwise expressly
authorized by the Company, not to make any copies or duplicates of any the Company's Confidential Information. Any materials or documents that have been furnished by the Company to Advisor in
connection with the Services shall be promptly returned by Advisor to the Company, accompanied by all copies of such documentation, within ten days
after (a) the Services has been concluded or (b) the written request of the Company. 

        8.    No Rights Granted.    Nothing in this Agreement shall be construed as granting any
rights under any patent, copyright or other intellectual property right of the Company, nor shall this Agreement grant Advisor any rights in or to the Company's Confidential Information, except the
limited right to use the Confidential Information in connection with the Services. 

        9.    Assignment of Inventions.    To the extent that, in the course of performing the
Services, Advisor jointly or solely conceives, develops, or reduces to practice any inventions, original works of authorship, developments, concepts, know-how, improvements or trade
secrets, whether or not patentable or registrable under copyright or similar laws, Advisor hereby agrees to assign all rights, titles and interest to such inventions to the Company. 

        10.    Duty to Assist.    As requested by the Company, Advisor shall take all steps reasonably
necessary to assist the Company in obtaining and enforcing in its own name any patent, copyright or other protection which the Company elects to obtain or enforce for its inventions, original works of
authorship, developments, concepts, know-how, improvements and trade secrets. Advisor's obligation to assist the Company in obtaining and enforcing patents, copyrights and other
protections shall continue beyond the termination of Advisor's relationship with the Company, but the Company shall compensate Advisor at a reasonable rate after the termination of such relationship
for time actually spent at the Company's request providing such assistance. 

2

 

        11.    No Conflicts.    Advisor represents that Advisor's compliance with the terms of this
Agreement and provision of Services hereunder will not violate any duty which Advisor may have to any other person or entity (such as a present or former employer), including obligations concerning
providing services to others, confidentiality of proprietary information and assignment of inventions, ideas, patents or copyrights, and Advisor agrees that Advisor will not do anything in the
performance of Services hereunder that would violate any such duty. In addition, Advisor agrees that, during the term of this Agreement, prior to performing any services for or otherwise participating
in a company developing or commercializing new services, methods or devices that may be competitive with the Company, Advisor shall first notify the Company in writing. It is understood that in such
event, the Company will review whether Advisor's activities are consistent with Advisor remaining a member of the Company's Advisory Board. 

        12.    Miscellaneous.    Any term of this Agreement may be amended or waived only with the
written consent of the parties. This Agreement, including any exhibits hereto, constitutes the sole agreement of the parties and supersedes all oral negotiations and prior writings with respect to the
subject matter hereof. Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery
service or confirmed facsimile, 48 hours after being deposited in the regular mail as certified or registered mail (airmail if sent internationally) with postage prepaid, if such notice is
addressed to the party to be notified at such party's address or facsimile number as set forth below, or as subsequently modified by written notice. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the State of California, without giving effect to the principles of conflict of laws. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 

[Signature
Page Follows] 

3

 

        The
parties have executed this Agreement as of the date first written above. 

 

 

							
	 LUCY SHAPIRO, PH.D.	 	 ANACOR PHARMACEUTICALS, INC.
	

/s/ LUCY SHAPIRO

  Signature	
 	
By:	
 	
/s/ LUCY O. DAY

  Lucy O. Day

Chief Financial Officer
	
Address:	
 	
 	
 	
 Address:	
 	
1060 East Meadow Circle

Palo Alto, California 94303

 

 4

  AMENDMENT 1  

 TO  

 ANACOR PHARMACEUTICALS, INC.  

 ADVISORY BOARD AGREEMENT  

        This Amendment, effective October 1, 2007 (the "Effective Date"), is to Advisory Board Agreement commencing October 1,
2005, and any subsequent Amendments (the "Agreement") between Anacor Pharmaceuticals, Inc. ("Company") and Lucy Shapiro, Ph.D.("Advisor"), together, the Parties. 

        Pursuant
to this Amendment, the Parties agree as follows: 

	1.
	The term of the Agreement, as defined in Section 4, shall be modified to extend from October 1, 2007 to
December 31, 2009.

	2.
	Subject to approval by the Company's Board of Directors, the Company will grant an additional nonstatutory stock option to purchase
15,000 shares of the Company's common stock, with an exercise price per share equal to the fair market value at the time of grant. Such shares will vest at the rate of 1/24th of
the total number of shares on each monthly anniversary of the vesting commencement date of January 1, 2008, based upon the Advisor's continued service to the Company, as provided in the
Agreement and as specified in the Stock Option Agreement between the Company and Advisor.

	3.
	All other terms and conditions set forth in the Agreement remain in full force and effect.

        IN WITNESS WHEREOF, the Parties have signed this Amendment as of the Effective Date.

 

							
	 ANACOR PHARMACEUTICALS, INC.	 	 LUCY SHAPIRO, PH.D.
	
By:	
 	
 /s/ LUCY O. DAY

 	
 	
/s/ LUCY SHAPIRO

 
	
Name:	
 	
 Lucy O. Day	
 	
 Name:	
 	
 Lucy Shapiro, Ph.D.
	
Title:	
 	
 VP Finance	
 	
 Title:	
 	
 Advisor
	
Date:	
 	
 March 21, 2008	
 	
 Date:	
 	
 March 25, 2008

 

 

  AMENDMENT 2  

 TO  

 ANACOR PHARMACEUTICALS, INC.  

 ADVISORY BOARD AGREEMENT  

        This Amendment, effective January 1, 2010 (the "Effective Date"), is to Advisory Board Agreement commencing October 1,
2005, and any subsequent Amendments (the "Agreement") between Anacor Pharmaceuticals, Inc. ("Company") and Lucy Shapiro, Ph.D.("Advisor"), together, the Parties. 

        Pursuant
to this Amendment, the Parties agree as follows: 

	1.
	The term of the Agreement, as defined in Section 4, shall be modified to extend from January 1, 2010 to
December 31, 2011.

	2.
	Subject to approval by the Company's Board of Directors, the Company will grant an additional nonstatutory stock option to purchase
7,500 shares of the Company's common stock, with an exercise price per share equal to the fair market value at the time of grant. Such shares will vest at the rate of 1/24th of the total
number of shares on each monthly anniversary of the vesting commencement date of January 1, 2010, based upon the Advisor's continued service to the Company, as provided in the Agreement and as
specified in the Stock Option Agreement between the Company and Advisor.

	3.
	All other terms and conditions set forth in the Agreement remain in full force and effect.

        IN WITNESS WHEREOF, the Parties have signed this Amendment as of the Effective Date.

 

 

							
	 ANACOR PHARMACEUTICALS, INC.	 	LUCY SHAPIRO, PH.D.
	
By:	
 	
/s/ LUCY O. DAY

 	
 	
By:	
 	
/s/ LUCY SHAPIRO  

 
	
Name:	
 	
Lucy O. Day	
 	
Name:	
 	
Lucy Shapiro, Ph.D.
	
Title:	
 	
VP Finance	
 	
Title:	
 	
Advisor
	
Date:	
 	
8/16/10	
 	
Date:	
 	
8/13/10

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