Document:

EX-10.7

 Exhibit 10.7 

 
 P.O. Box 110287 

Research Triangle Park, NC 27709 

June 28, 2012 
 Ciara Kennedy 

193 Pacific View Lane 
 Encinitas 

CA 92024 
  

	Re:	Employment Terms 

 Dear Ciara: 

Lumena Pharmaceuticals, Inc. (the “Company”) is pleased to offer you the position of Vice President, Operations on the terms set forth in this
letter agreement (the “Agreement”). Your start date with the Company will be June 30, 2012, subject to your signing and returning both this letter and the Company’s standard Employee Proprietary Information and Inventions
Agreement. 
 You will be responsible for oversight of Company development activities and other duties that are normally associated with the position of
Vice President, Operations. You will report to the Chief Executive Officer of the Company and will work at our headquarters located in San Diego, California. Subject to the terms hereof, the Company may change your position, duties, and work
location from time to time in its discretion. You will devote substantially all of your working time and efforts to the business and affairs of the Company. 

You will be paid a base salary of $200,000 per year (the “Base Salary”). Your Base Salary will be paid bi-weekly and will be subject to payroll
deductions and all required withholdings. Your Base Salary will be pro-rated for any partial year of employment on the basis of a 365-day fiscal year. 
 In
addition, you will be eligible for an annual discretionary bonus of up to 25% of your Base Salary as then in effect based on achievement of the specific performance goals for each fiscal year to be established by the Board (the “Performance
Goals”) (the bonus, “Discretionary Annual Bonus”). The specific amount of your Discretionary Annual Bonus, if any, shall be determined by the Board based upon its evaluation of the Performance Goals and shall be subject to your
continued employment through the date such bonus is paid. Your Discretionary Annual Bonus, if any, will be pro-rated for any partial year of employment on the basis of a 365-day fiscal year, provided that for 2012 your Discretionary Annual Bonus
will be assessed from February I, 2012, the date upon which you started providing consulting services to the Company. In all events, any earned Discretionary Annual Bonus will be paid not later than March 15 of the year following the year in
which your right to such Discretionary Annual Bonus became vested. 

 Subject to approval by the Board, on or following your start date with the Company, you will be granted a stock
option to purchase 310,000 shares of the Company’s Common Stock pursuant to the terms set forth in the Company’s 2012 Equity Incentive Plan (the “Plan”) and the applicable stock option agreement and other documents thereunder.
The exercise price of your stock option will be equal to the fair market value of the Common Stock on the date of grant as determined by the Board. Provided that your employment with the Company continues through each of the following dates, 25% of
the shares subject to your stock option shall vest on the first anniversary of your start date with the Company, and the remaining 75% of the shares shall vest in equal monthly installments thereafter over the subsequent three years. You will be
provided with a copy of the Plan and your stock option agreement following approval of the grant. Such stock option agreement will provide, among other things, that in connection with, or within 12 months following, an Asset Transfer or Acquisition
(each as defined in the Company’s Amended and Restated Certificate of Incorporation) your employment with the Company is involuntarily terminated without Cause (as defined in the Plan), the vesting of the shares subject to your stock option
will be accelerated in full. 
 In the event your employment with the Company is involuntarily terminated without Cause, you will be entitled to receive a
one-time lump sum payment in an amount equal to three months of your Base Salary in effect at the time of termination, subject to payroll deductions and all required withholdings. The foregoing severance payment will be paid within 90 days of your
termination of employment, contingent upon your furnishing to the Company an executed release and waiver of claims in a form acceptable to the Company (the “Release and Waiver”) within the time frame set forth therein, but in no event
later than 45 days following the date of termination of your employment with the Company, and permitting the Release and Waiver to become effective in accordance with its terms (such latest permitted date on which the Release and Waiver may become
effective, the “Release Deadline”). Notwithstanding the foregoing, the severance payment will be paid to you not later than March 15 of the year following the year in which your termination of employment occurred. 

The following provisions apply to the extent the severance benefits provided in this Agreement are subject to Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”) and the regulations and other guidance thereunder and any state law of similar effect (collectively “Section 409A”). Severance benefits will not commence until you have a “separation from
service” for purposes of Section 409A. Each installment of severance benefits is a separate “payment” for purposes of Treas. Reg. Section 1.409A-2(b)(2)(i), and the severance benefits are intended to satisfy the exemptions
from application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), as applicable. However, if such exemptions are not available and you are, upon separation from service, a
“specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal tax consequences under Section 409A, the timing of the severance benefits payments will be delayed until the
earlier of (a) six months and one day after your separation from service or (b) your death. If the severance benefits are not covered by one or more exemptions from the application of Section 409A and the Release and Waiver could
become effective in the calendar year following the calendar year in which you separate from service, the Release and Waiver will not be deemed effective any earlier than the Release Deadline. The severance benefits are intended to qualify for an
exemption from application of Section 409A or to comply with its requirements to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities in this Agreement will be interpreted accordingly.

 In the event that the severance and other benefits provided for in this Agreement or otherwise payable to you
(a) constitute “parachute payments” within the meaning of Section 280G of the Code, and (b) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then your benefits under
this Agreement will be either (x) delivered in full, or (y) delivered as to such lesser extent which would result in no portion of such benefits being subject to the Excise Tax (the “Adjusted Amount”), whichever of the foregoing
amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by you on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits
may be taxable under Section 4999 of the Code. Unless you and the Company otherwise agree in writing, any determination required under this paragraph will be made in writing by a mutually agreed independent public accounting firm or other
independent third party (the “Accountants”), whose determination will be conclusive and binding upon you and the Company for all purposes. The Company will bear all costs the Accountants may incur in connection with any calculations
contemplated by this paragraph. 
 As a Company employee, you will be expected to abide by Company policies and procedures, and when it is implemented,
acknowledge in writing that you have read and will comply with the Company’s Employee Handbook. As a condition of employment, you must read, sign and comply with the Company’s standard Employee Proprietary Information and Inventions
Agreement attached hereto as EXHIBIT A. 
 In your work for the Company, you will be expected not to use or disclose any
confidential information, including trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with
training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. You agree that you will not bring onto Company premises
or use in your work for the Company any unpublished documents or property belonging to any former employer or third party that you are not authorized to use and disclose. You represent further that you have disclosed to the Company any contract you
have signed that may restrict your activities on behalf of the Company. By accepting employment with the Company, you are representing that you will be able to perform your job duties within these guidelines. 

Your employment relationship is at will. You may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the
Company. Likewise, the Company may terminate your employment at any time, with or without Cause or advance notice. Your employment at-will status can only be modified in a written agreement signed by you and by the CEO. As required by law, this
offer is subject to satisfactory proof of your right to work in the United States, and is also subject to and contingent upon completion of references by the Company. 

This Agreement, along with your Employee Proprietary Information and Inventions Agreement, form the complete and exclusive statement of your employment
relationship with the Company. The terms in this Agreement supersede any other agreements or promises made to you by anyone, whether oral or written. This Agreement cannot be changed except in a written agreement signed by you and the CEO. 

The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California as applied to agreements
entered into and performed within California solely by residents of that state. 

 Please sign and date this Agreement and the attached Employee Proprietary Information and Inventions Agreement,
and return them to me by 5:00 p.m. Pacific time on June 29, 2012, if you wish to accept employment at the Company under the terms described above. 

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

 

	
	Sincerely,
	
	/s/ Michael Grey
	
	Michael Grey
	
	Lumena Pharmaceuticals, Inc.

  

					
			
	Accepted:	 		 	
			
	 /s/ Ciara Kennedy
	 		 	 6-28-12

			
	Ciara Kennedy	 		 	DateEX-10.8

 Exhibit 10.8 

CONSULTING AGREEMENT 

THIS CONSULTING AGREEMENT (“Agreement”) is entered
into as of July 2, 2012 by and between LUMENA PHARMACEUTICALS, INC., a Delaware corporation having its principal place of business located at 2520 Meridian Parkway, Suite 400,
Durham, NC 27713 (“Company”), and ALANA MCNULTY (“Consultant”). 

The Company desires to retain Consultant as an independent contractor to perform consulting services for the Company and Consultant is willing
to perform such services, on the terms described below. 
 AGREEMENT 

In consideration of the mutual promises contained herein, the parties agree as follows: 

1. Services and Compensation. Consultant agrees to perform for the Company the services described in Exhibit A as
requested by the Company from time to time (the “Services”), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services. If not
specified on Exhibit A, the scope, timing, duration, and site of performance of said Services shall be mutually and reasonably agreed to by the Company and Consultant and are subject to change upon the written agreement of both parties.
Consultant will make reasonable, good faith efforts to provide the Services in a timely and professional manner consistent with industry practices. 

2. Confidentiality. 

2.1 Definitions. “Confidential Information” means all data, information, technology, samples and specimens
relating to the Company or its plans, products, product concepts, technologies, business, financial, marketing, research, non-clinical, clinical or regulatory affairs, manufacturing processes and procedures, or those of any other third party, from
whom the Company receives information on a confidential basis, whether written, graphic or oral, furnished to Consultant by or on behalf of the Company, either directly or indirectly, or obtained or observed by Consultant while providing services
hereunder, and the Services to be provided by Consultant hereunder. Confidential Information does not include (i) information that is now in the public domain or subsequently enters the public domain and is generally available without
fault on the part of Consultant; (ii) information that is presently known by Consultant from Consultant’s own sources as evidenced by Consultant’s prior written records; or (iii) information disclosed to Consultant by a third
party legally and contractually entitled to make such disclosures. 
 2.2 Nonuse and Nondisclosure. Consultant will not, during or
subsequent to the term of this Agreement, (i) use the Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of the Company or (ii) disclose the Confidential Information to any third party.
Consultant agrees that, as between the Company and Consultant, all Confidential Information will remain the sole property of the Company. Consultant also agrees to take all necessary and reasonable precautions to prevent any unauthorized
disclosure of such Confidential Information. Without the Company’s prior written 

  
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approval, Consultant may disclose the existence, but not the terms, of this Agreement to third parties. Anything to the contrary notwithstanding, Consultant may also disclose Confidential
Information to the extent such disclosure is required by a court of competent jurisdiction and provided that Consultant promptly notifies the Company of such requirement. Consultant acknowledges that the use or disclosure of Confidential Information
without the Company’s express written permission will cause the Company irreparable harm and that any material breach or threatened material breach of this Agreement by Consultant will entitle the Company to seek injunctive relief and
reasonable attorneys’ fees, in addition to any other legal remedies available to it, in any court of competent jurisdiction. 
 2.3
Third Party Confidential Information. Consultant recognizes that the Company has received and in the future may receive from third parties, their confidential or proprietary information subject to a duty on the Company’s part to maintain
the confidentiality of such information and to use it only for certain limited purposes. Consultant agrees that, during the Term of this Agreement and thereafter, Consultant owes the Company and such third parties a duty to hold all such
confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or entity or to use it except as necessary in carrying out the Services for the Company consistent with the Company’s agreement with
such third party, unless otherwise authorized by such third party. 
 2.4 Return of Materials. At any time upon the Company’s
request, Consultant will deliver to the Company all of the Company’s property, equipment and documents, together with all copies thereof, that were previously given to Consultant, including but not limited to all electronically stored
confidential and/or nonpublic information, passwords to access such property, or Confidential Information that Consultant may have in Consultant’s possession or control, and Consultant agrees to certify in writing that Consultant has fully
complied with this obligation. 
 3. Ownership. 

3.1 Assignment. Consultant agrees that all copyrights and copyrightable material, notes, records, drawings, designs, inventions, ideas,
discoveries, enhancements, modifications, know-how, improvements, developments, discoveries, trade secrets’ data and information of every kind and description conceived, generated, made, discovered, developed or reduced to practice by
Consultant, solely or in collaboration with others, during the Term and in the course of performing Services under this Agreement (collectively, “Inventions”), are, as between the Company and Consultant, the sole and
exclusive property of the Company. Consultant agrees to disclose such Inventions promptly to the Company and hereby assigns, and agrees to assign, all of Consultant’s right, title and interest in and to any such Inventions promptly to the
Company without royalty or any other consideration and to execute all applications, assignments or other instruments reasonably requested by the Company in order for the Company to establish the Company’s ownership of such Inventions and to
obtain whatever protection for such Inventions, including copyright and patent rights in any and all countries on such Inventions as the Company shall determine. 

3.2 Further Assurances. Consultant agrees to assist the Company, or its designee, in every reasonable way to secure the Company’s
rights in Inventions and any 

  
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copyrights, patents or other intellectual property rights relating to all Inventions in any and all countries, including the disclosure to the Company of all pertinent information and data with
respect to all Inventions, the execution of all applications, specifications, oaths, assignments and all other instruments that the Company may deem necessary in order to apply for and obtain such rights and in order to assign and convey to the
Company, its successors, assigns and nominees the sole and exclusive right, title and interest in and to all Inventions, and any copyrights, patents, or other intellectual property rights relating to all Inventions. Consultant also agrees that
Consultant’s obligation to execute or cause to be executed any such instrument or papers shall continue after the termination of this Agreement. 

3.3 Pre-Existing Materials. Subject to Section 3.1, Consultant agrees that if, in the course of performing the Services,
Consultant incorporates into any Invention developed under this Agreement any pre-existing invention, improvement, development, concept, discovery or other proprietary information owned by Consultant or in which Consultant has an interest,
(i) Consultant will inform the Company, in writing before incorporating such invention, improvement, development, concept, discovery or other proprietary information into any Invention, and (ii) the Company is hereby granted a
nonexclusive, royalty-free, perpetual, irrevocable, worldwide license to make, have made, modify, use and sell such item as part of or in connection with such Invention. Consultant will not incorporate any invention, improvement, development,
concept, discovery or other proprietary information owned by any third party into any Invention without the Company’s prior written permission. 

3.4 Attorney-in-Fact. Consultant agrees that, if the Company is unable because of Consultant’s unavailability, dissolution, mental
or physical incapacity, or for any other reason, to secure Consultant’s signature for the purpose of applying for or pursuing any application for any United States or foreign patents, mask work or copyright registrations covering the Inventions
assigned to the Company in Section 3.1, then Consultant hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Consultant’s agent and attorney-in-fact, to act for and on Consultant’s
behalf to execute and file any such applications and to do all other lawfully permitted acts only to further the prosecution and issuance of patents, copyright and mask work registrations with the same legal force and effect as if executed by
Consultant. 
 4. Representations and Warranties. Consultant represents and warrants to the Company that Consultant is legally able
to enter into this Agreement and that Consultant’s execution, delivery and performance of this Agreement will not and does not conflict with any agreement, arrangement or understanding, written or oral, to which Consultant is a party or by
which Consultant is bound. 
 5. Term and Termination. 

5.1 Term. The term of this Agreement (the “Term”) shall commence on the date this Agreement is signed by all
parties hereto (the “Effective Date”), and shall remain in full force and effect until the earlier of (i) final completion of the Services or (ii) termination as provided in Section 5.2. 

  
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 5.2 Termination. Either party may terminate this Agreement by giving one (1) month
prior written notice to the other party. The Company may terminate this Agreement immediately and without prior notice if Consultant refuses to or is unable to perform the Services or is in breach of any material provision of this Agreement. The
Company and Consultant agree that the terms and conditions of this Agreement, including the Term, shall be subject to an annual review by the Company’s Board of Directors. 

5.3 Survival. Upon termination of this Agreement, all rights and duties of the Company and Consultant toward each other shall cease
except: 
 (a) The Company will pay, within 30 days after the effective date of termination, all amounts owing to Consultant for
Services completed and accepted by the Company prior to the termination date and related expenses, if any, submitted in accordance with the Company’s policies and in accordance with the provisions of Section 1 of this Agreement; and 

(b) Sections 2, 3, 4, 5.3, 6, 9, 10.1, 10.2, 11 and 12 will survive termination of this Agreement. 

6. Independent Contractor; Benefits; Taxes. 

6.1 Independent Contractor. It is the express intention of the Company and Consultant that Consultant performs the Services as an
independent contractor to the Company, and nothing in this Agreement should be construed to create a partnership, joint venture or employer-employee relationship. 

6.2 Benefits. The Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company. If
Consultant is reclassified by a state or federal agency or court as the Company’s employee, Consultant will become a reclassified employee and will receive no benefits from the Company, except those mandated by state or federal law, even if by
the terms of the Company’s benefit plans or programs of the Company in effect at the time of such reclassification, Consultant would otherwise be eligible for such benefits. 

6.3 Taxes and Withholdings. The Company shall not be responsible for paying any federal, state or local taxes on compensation, and
Consultant shall be solely responsible for the payment thereof. The Company may, however, report payments made to Consultant hereunder to tax authorities and shall inform Consultant of such actions. Consultant agrees to accept exclusive liability
for complying with all applicable state and federal laws, including laws governing self-employed individuals, if applicable, such as laws related to payment of taxes, social security, disability, and other contributions based on fees paid to
Consultant under this Agreement. The Company will not withhold or make payments for social security, unemployment insurance or disability insurance contributions, or obtain workers’ compensation insurance on Consultant’s behalf. Consultant
hereby agrees to indemnify and defend the Company against any and all such taxes or contributions, including penalties and interest. Consultant agrees to provide proof of payment of appropriate taxes on any fees paid to Consultant under this
Agreement upon reasonable request of the Company. 

  
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 7. Indemnification. Consultant agrees to indemnify and hold harmless the Company and
its directors, officers and employees from and against all claims, demands, losses, damages, liabilities, costs and expenses whatsoever, including without limitation attorneys’ fees and other legal expenses, arising directly or indirectly from
or in connection with (i) any grossly negligent or intentionally wrongful act of Consultant or Consultant’s assistants, employees or agents, (ii) any breach by Consultant or Consultant’s assistants, employees or agents of any of
the covenants contained in this Agreement, (iii) any material failure of Consultant to perform the Services in accordance with all applicable laws, rules and regulations, or (iv) any violation or claimed violation of a third party’s
rights resulting in whole or in part from the Company’s use of the work product of Consultant under this Agreement and for which Consultant deliberately misrepresented to the Company the status of third party rights. 

The Company shall defend, indemnify and hold Consultant harmless from and against any and all claims, demands, losses, damages, liabilities
(including without limitation product liability), settlement amounts, costs and expenses whatsoever (including without limitation reasonable attorneys’ fees and costs and including, without limitation, product liability claims) arising from or
relating to any claim, action or proceeding made or brought against Consultant or the Company as a result of, or associated with, the development, use, manufacture, marketing or sale of products regarding which Consultant has provided Services
unless such liability arises from Consultant’s or Consultant’s assistants’, employees’ or agents’ gross negligence or intentional misconduct. 

8. Nonsolicitation; Non-Disclosure. 

8.1 Nonsolicitation. From the date of this Agreement until 12 months after the termination of this Agreement (the
“Restricted Period”), Consultant will not, without the Company’s prior written consent, directly or indirectly, whether for Consultant’s own account or for the account of any other person, firm, corporation or other
business organization, solicit, entice, persuade, induce or otherwise attempt to influence any person or business who is, or during the period of Consultant’s engagement by the Company was, an employee, consultant, contractor, partner,
supplier, customer or client of the Company or its affiliates to leave or otherwise stop doing business with the Company. 
 8.2
Non-Disclosure. Consultant agrees that without the prior written consent of the Company, Consultant will not intentionally generate any publicity, news release or other announcement concerning the engagement of Consultant hereunder or the
services to be performed by Consultant hereunder or otherwise utilize the name of the Company or any of its affiliates for any advertising or promotional purposes. 

9. Voluntary Nature of Agreement. Consultant acknowledges and agrees that Consultant is executing this Agreement voluntarily and
without any duress or undue influence by the Company or anyone else. Consultant further acknowledges and agrees that Consultant has carefully read this Agreement and has asked any questions needed to understand the terms, consequences and binding
effect of this Agreement and fully understand it to his or her satisfaction. Finally, Consultant agrees that Consultant has been provided an opportunity to seek the advice of an attorney of its choice before signing this Agreement. 

  
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 10. Miscellaneous. 

10.1 Governing Law. This Agreement shall be governed by the laws of Delaware without regard to conflicts of law rules. 

10.2 Assignability. Except as otherwise provided in this Agreement, Consultant may not sell, assign or delegate any rights or
obligations under this Agreement. 
 10.3 Entire Agreement. This Agreement constitutes the entire agreement between the parties with
respect to the subject matter of this Agreement and supersedes all prior written and oral agreements between the parties regarding the subject matter of this Agreement. 

10.4 Headings. Headings are used in this Agreement for reference only and shall not be considered when interpreting this Agreement.

 10.5 Notices. Any notice or other communication required or permitted by this Agreement to be given to a party shall be in writing
and shall be deemed given if delivered personally or by commercial messenger or courier service, or mailed by U.S. registered or certified mail (return receipt requested). If by mail, delivery shall be deemed effective 3 business days after mailing
in accordance with this Section 11.5. 
 If to the Company, to: 

Lumena Pharmaceuticals, Inc. 

Attention: President 
 2520
Meridian Parkway, 
 Suite 400, 

Durham, 
 NC 27713 

If to Consultant, to: 
 The
address for notice on the signature page to this Agreement or, if no such address is provided, to the last address of Consultant provided by Consultant to the Company. 

10.6 Nature of Services. The Company acknowledges that Consultant’s role is advisory in nature. The Company is therefore free, in
its sole discretion to accept, modify, or reject Consultant’s recommendations or any work product resulting from the provision of Services as described herein. The Company shall be solely responsible for the consequences, direct or indirect, of
any such decision by the Company. 
 10.7 Amendments; Waiver. No modification of or amendment to this Agreement, or any waiver of any
rights under this Agreement, will be effective unless in writing and signed by Consultant and the Company. 
 10.8 Attorneys’
Fees. In any court action at law or equity that is brought by one of the parties to this Agreement to enforce or interpret the provisions of this Agreement, the 

  
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prevailing party will be entitled to reasonable attorneys’ fees, in addition to any other relief to which that party may be entitled. 

10.9 Further Assurances. Consultant agrees, upon request, to execute and deliver any further documents or instruments necessary or
desirable to carry out the purposes or intent of this Agreement. 
 10.10 Severability. If any provision of this Agreement is
found to be illegal or unenforceable, the other provisions shall remain effective and enforceable to the greatest extent permitted by law. 

10.11 Counterparts and Facsimiles. This Agreement may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which taken together shall constitute one and the same instrument. Facsimile signatures shall be deemed original signatures for all purposes. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the
parties hereto have executed this Consulting Agreement as of the date first written above. 
  

									
	ALANA MCNULTY	 		 	LUMENA PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Alana McNulty
	 		 	By:	 	 /s/ M G Grey

					
		 		 		 	Title:	 	 President & CEO

				
	 Address for Notice:

1035 Klish Way,
 Del Mar,

CA 92014
	 		 		 	
	 		 		 	
	 		 		 	
	 		 		 	

 [SIGNATURE PAGE TO CONSULTING
AGREEMENT] 

 EXHIBIT A

SERVICES AND COMPENSATION 

1. Services. The Services shall include, but shall not be limited to, performing the duties of acting Chief Financial Officer:

  

	 	•	 	Establishment of appropriate financial systems 

  

	 	•	 	Oversight of financial reporting to management and board 

  

	 	•	 	Establishment and oversight of Company IT systems 

  

	 	•	 	Establishment and oversight of Company human resource systems 

  

	 	•	 	Other G&A functions as may be agreed 

 The manner and means that Consultant chooses to
complete the Services are in Consultant’s sole discretion and control. 
 2. Compensation. 

A. The Company will pay Consultant a consulting fee of $225 per hour during the Term for up to 70 hours per calendar month. Any time
above 70 hours per calendar month shall be mutually agreed between Consultant and the Company. In addition, Consultant will receive certain stock benefits to be agreed between the Company and the Consultant, which will be detailed in a separate
agreement. The Consulting fee shall be payable monthly upon 30 days of the Company receiving an invoice from Consultant detailing the Services provided and the time spent providing such Services, and all of which fees shall be net of any applicable
withholding taxes. 
 B. The Company will reimburse Consultant for all reasonable expenses incurred by Consultant in performing the
Services pursuant to this Agreement, provided that Consultant receives written consent from the Company’s President prior to incurring such expenses and submits receipts for such expenses to the Company in accordance with Company policy.

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