Document:

EX-10.11

 Exhibit 10.11 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of the 18th day of March 2019 (the “Effective Date”), by and between PATRICK D. YERAMIAN, M.D. of 1815 SW 22nd Avenue Circle, Boca
Raton, FL. 33486 (the “Employee”) and AMYLYX PHARMACEUTICALS, INC., a Delaware corporation duly organized under law and having a usual place of business at 43 Thorndike Street, Cambridge, MA 02141 (the “Company”). 

RECITALS 
 The Company is
engaged in the business of researching, discovering, developing and commercializing therapeutics for the treatment of neurodegenerative diseases (the “Business”). 

The Company desires to employ the Employee as Chief Medical Officer, and the Employee desires to be so employed by the Company, on the terms
and conditions set forth herein. 
 The Company desires to bind the Employee to certain restrictive covenants, and Employee agrees to be so
bound on the terms and conditions set forth herein. 
 NOW, THEREFORE, for good and valuable consideration, including the mutual covenants
and agreements herein contained, the receipt and legal sufficiency of which are hereby acknowledged, accepted and agreed to, the parties hereto agree as follows: 

l. Term of Employment. Subject to the terms hereof, the Employee’s employment hereunder shall commence on the Effective Date and
shall be at-will; meaning that either party may terminate this Agreement at any time upon ten (10) days prior written notice to the other, and upon the expiration of the aforesaid ten ( l 0) day period,
this Agreement shall terminate and thereafter be null and void and without further force or effect except for those provisions which survive in accordance with this Agreement. The term of the Employee’s employment under this Agreement is
hereafter referred to as the “Employment Term”. As of the Effective Date, the Employee will be employed for twenty (20) hours per week (1,040 hours on an annualized basis) which includes approximately one (1) week per month in
the Company’s offices in Cambridge, Massachusetts. It is the intention (but not the obligation), of both parties to increase the Employee’s time to forty (40) hours per week on a basis and timing that is mutually agreed to. If the
increase in hours is mutually agreed to, the increase will not occur prior to December 31, 2019. 

2.    Employment Duties. During the Employment Term, the Employee shall serve as Chief Medical
Officer, subject to the terms and conditions of this Agreement, and shall report to and take direction from the President of the Company or his designee. The Employee agrees that he will faithfully and diligently perform the services and assume such
duties and responsibilities as are assigned to him by the President and that he will carry out and perform the duties and responsibilities customarily associated with said position and office. The Employee shall devote his best efforts and
applicable business time and attention to the business and affairs of the Company and the performance of his duties hereunder. 

 The Employee shall initially be located in Boca Raton, Florida and shall travel on behalf of
the Company as needed and requested. 
 The Employee represents and warrants to the Company as follows: (i) that he is under no
contractual or other restriction or obligation which is inconsistent with the execution of this Agreement, or which will interfere with the performance of his duties hereunder, nor does the Employee have any obligation of confidentiality to any
third party which interferes with his obligations hereunder; (ii) that the execution and performance of this Agreement will not violate any policies or procedures of any academic institution or corporation (public or private) with which he is
involved or associated with and that he has received all of the necessary written permission(s) to enter into this Agreement and (iii) that in providing the services to the Company, he will not use any resources belonging to any corporation,
company, institution (public, private, profit or non- profit), or other third party, including, but not limited to utilities, facilities, computers, laboratories or supplies or otherwise engage the services, consult with or employ any individual not
previously approved in writing by the Company. 
  

	 	3.	 Compensation. 

(a)    Base Salmy. Subject to the provisions of this Agreement, the Company shall pay the Employee a base salary as
set forth on Schedule 1 annexed hereto and made a part hereof, as if set out verbatim (the “Base Salary”), which shall be paid in accordance with the Company’s normal payroll procedures and policies. Any adjustments to the
Base Salary shall be approved by the Board of Directors (the “Board”). All payments made to the Employee pursuant to this Agreement shall be treated as wages for withholding and employment tax purposes as provided by law, except that
reimbursement of expenses will not be so treated to the extent permitted by law. 
 (b)    Annual Cash Bonus. In
addition to the Base Salary, the Employee may be entitled to a target bonus of thirty (30%) percent of his then Base Salary (the “Annual Cash Bonus”), based upon the successful completion of certain goals and objectives approved by the
Board. These goals may relate to the achievement of corporate goals; the achievement of individual goals or a combination of the same. When the goals are agreed to, they shall be identified on Exhibit “A” and added to this
Agreement. The decision of the Board as to whether or not the goals have been achieved and the amount of the bonus to be awarded, if any, shall be final and binding on the parties. A bonus, if awarded, shall not be added to the Base Salary and, if
awarded, will be paid within sixty (60) days after the end of the calendar year with respect to which the bonus is being awarded. 

(c)    Stock Option Bonus. The Company agrees that, from time to time during the Employment Term, the Employee may
be eligible for additional stock option grants as determined, on an annual basis, by the Board and based upon the successful completion of annual goals and objectives as determined by the Board. All such grants shall vest in accordance with the
Company’s standard form option grant agreement. The decision of the Board as to whether or not to award any stock options shall be final and binding on the parties. 

  
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	 	4.	 Stock Options and Benefits. 

(a)    Stock Options: So long as this Agreement remains in full force and effect, and subject to approval by the
Board, the Employee will be granted the right and option to purchase up to One Hundred Twenty Three Two Hundred Fifty Four (123,254) shares (the “Shares”) of the Common Capital Stock of the Company (the “Stock”) at an exercise
price based upon the fair market value of the Common Stock on the date the grant is approved by the Board. The options granted above shall vest in accordance with the following schedule: Thirty Thousand Eight Hundred Fourteen (30,814) options shall
vest on September 18, 2019, and thereafter, an additional Two Thousand Two Hundred One (2,201) options shall vest monthly with the first monthly vesting occurring on October 18, 2019 and on the 18th day of each month thereafter occurring during
the Employment Term. As a condition precedent to this grant, the Employee shall execute and deliver the Company’s standard form Incentive Stock Option Agreement and the grant shall be subject to the terms and conditions of the Incentive Stock
Option Agreement and the Company’s Stock Option and Restricted Stock Plan. 
 At such time as the parties agree to increase the
Employee’s time commitment to forty (40) hours, the Employee will be granted the right and option to purchase up to an additional One Hundred Twenty Two Hundred Fifty Three (123,253) Shares of the Common Capital Stock of the Company at an
exercise price based upon the fair market value of the Common Stock on the date the grant is approved by the Board. The additional options granted herein shall vest in accordance with the following schedule: Thirty Thousand Eight Hundred Fourteen
(30,814) options shall vest six (6) months from the date that the Employee commenced working as a full time employee, and thereafter, an additional Two Thousand Two Hundred One (2,201) options shall vest monthly with the first monthly vesting
occurring on the 18th of seventh (7th) month following the Employee becoming a full time employee and on the like monthly anniversary date thereafter occurring during the Employment Term. As a
condition precedent to this grant, the Employee shall execute and deliver the Company’s standard form Incentive Stock Option Agreement and the grant shall be subject to the terms and conditions of the Incentive Stock Option Agreement and the
Company’s Stock Option and Restricted Stock Plan. 
 (b)    Benefits: The Employee may be entitled, during the Employment
Term, to receive paid medical, dental, and disability insurance if, and to the extent available and to participate in any and all employee benefit plans and programs, including, without limitation, life insurance, and 401 (k) plans, as are
maintained from time to time, for employees of the Company subject to plan terms and applicable Company policies (the “Benefits”). Further, during the Employment Term, the Employee shall be entitled, with prior written approval of either
the President or the CEO if the request is of greater than five (5) days, to an unlimited number of vacation and sick days, and national and state holidays as are observed by the Company. 

5.    Reimbursement of Expenses. The Employee shall be entitled to reimbursement for ordinary, necessary and
reasonable out-of-pocket business expenses, which Employee incurs in connection with performing his duties under this Agreement. The reimbursement of all such expenses
shall be made in accordance with the Company’s customary practices and policies (including presentation of evidence reasonably satisfactory to the Company of the amounts and nature of such expenses) for reimbursement of expenses. 

  
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 6.    Restrictive Covenants. As partial consideration of the
Company entering into this Agreement, the Employee agrees that at all times during which the Employee is employed by the Company and continuing for a period of one (1) year following the expiration or termination of the Employee’s
employment under this Agreement for any reason (the “Restricted Period”), the Employee shall not, directly or indirectly, without the prior written consent of the Company, any place in the world: (A) solicit any customer of the
Company to purchase from any source other than the Company any product or service which is distributed, sold or provided by the Company during the term of Employee’s employment or as of the date of termination or expiration of the
Employee’s employment or otherwise interfere with any relationship between the Company and any customer or former customer of the Company; (B) solicit any employee, consultant or advisor to the Company to leave the employ of or cease
consulting or advising for the Company or solicit or request any employee of or consultant or advisor to the Company to join the employ of, or begin consulting or advising for any individual or entity which directly or indirectly competes with the
Company or (C) without limiting the generality of clause (A) above, solicit any supplier, distributor, manufacturer, licensor, or licensee of the Company to cease doing any business with, or to limit or alter its business relationship with
the Company. 
  

	 	7.	 Proprietary Rights. 

7.1    Definitions. For the purposes of this Article 7, the terms set forth below shall have the following meanings:

 7.1.1 Concept and Ideas. Those concepts and ideas disclosed by the Company to Employee or which are first developed or conceived
by Employee during the Employment Term and which relate to the Company’s present, past or prospective activities, services and products, all of which shall remain the sole and exclusive property of the Company (hereinafter, collectively
referred as “Concepts and Ideas”). Further, the Employee shall have no publication rights hereunder and all of the same shall belong exclusively to the Company. Employee acknowledges and agrees that all works and tasks performed by
Employee for or on behalf of the Company, or in connection therewith during the Employment Terms (the “Works”) are owned by the Company. Employee acknowledges and agrees that, to the fullest extent allowed by law, all of the Works are
“works made for hire,” as that phrase is defined in the Copyright Revision Act of 1976 (17 U.S.C. § 101) (the “Act”) in that either: (i) such Works are and will be prepared within the scope of this Agreement or
(ii) such Works have been and will be specifically ordered or commissioned for use as set forth in the Act. The Company shall therefore be deemed to be the sole author and owner of any and all right, title, and interest therein, including,
without limitation, all intellectual property rights. 
 7.1.2. Confidential Information. Confidential Information means that secret
or proprietary information of whatever kind or nature disclosed to Employee by or on behalf of the Company during the Employment Term (whether or not invented, discovered or developed by Employee) or first developed by Employee hereunder or
otherwise during the Employment Term, or any other information derived from the Confidential Information. Such secret or proprietary information shall include (unless such information is generally available to the public or known in the industry
through no action of Employee) information relating to the design, manufacture, application, trade secrets, know how, research and development relating to the Company’s products, materials, operating and other cost data, price lists and data
relating to the Company’s products. Such secret or proprietary information shall specifically include, without limitation, all such secret or proprietary information contained in the Company’s manuals, memoranda, plans, drawings and
designs, specifications, supply sources, customer lists and records legended or otherwise identified by the Company or the Board as Confidential Information. The Employee’s obligations with respect to Confidential Information will cease when
the Confidential Information: (i) becomes part of the public domain through no wrongful act of the Employee, or (ii) is approved for release by prior written authorization of the Company. However, Confidential Information shall be
considered Confidential Information even if a portion or specific sections of the Confidential Information are known or generally available to the general public; and the Confidential Information shall not lose its character and status as
Confidential Information unless and until all of the Confidential Information is in the public domain. 

  
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 7.2.    Non-Disclosure to
Third Parties. Except as required by Employee’s duties, Employee shall not, at any time, now or in the future, directly or indirectly, use, publish, disseminate, reproduce or otherwise disclose any Confidential Information, Concepts and
Ideas relating to the present, past or prospective business of the Company to any third party. Further, and recognizing the highly competitive nature of the Company’s business and the need to protect its intellectual property, all publication
rights shall belong solely to the Company. 
 7.3.    Documents, etc. All documents, procedural manuals, guides,
specifications, plans, drawings, designs and similar materials, lists of present, past or prospective customers, customer proposals, invitations to submit proposals, price lists and data relating to the pricing of the Company’s products and
services, records, notebooks and similar repositories of or containing Confidential Information (including all copies thereof) that come into Employee’s possession or control by reason of Employee’s relationship with the Company, whether
prepared by Employee or others: (a) are and shall remain the property of the Company, (b) will not be used by Employee in any way adverse to the Company, (c) will not be removed from the Company’s premises (except as
Employee’s duties require) and (d) at the termination (for whatever reason) of Employee’s relationship with the Company, will be left with, or forthwith returned by Employee to, the Company. 

7.4.    Patents, etc. Any interest in patents, patent applications, inventions, technological innovations,
improvements, enhancements, copyrights, copyrightable works, developments, discoveries, designs, processes, formulas, know-how, data and analysis, whether patentable or not (collectively, the
“Inventions”), which Employee as a result of rendering the Services to the Company under this Agreement may conceive or develop shall belong exclusively to the Company. 

7.5.    Assignment. The Employee hereby irrevocably and voluntarily assigns and, to the extent any such assignment
cannot be made at present, hereby agrees to irrevocably and voluntarily automatically assign to the Company, without further compensation or consideration of his rights, title and interest in and to all Concepts, Ideas, Works, and Inventions and any
and all related patents, patent applications, copyrights, copyright applications, licenses, trademarks, trade names and other proprietary or intellectual property rights in the United States and throughout the world. The Employee agrees that he will
promptly, without any additional costs, expense or consideration, execute when presented, whether during the Employment Term or at any time thereafter, all documents, agreements, applications and instruments and perform all lawful acts which the
Company considers necessary or advisable to secure its rights hereunder and to carry out the intent of this Agreement. 

  
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 7.6 Notice of Immunity Provision. Pursuant to the provisions of the Federal Defend
Trade Secrets Act of 20 I 6 (“DTSA”), notice is hereby given by the Company to the Employee that, under the DTSA, an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the
disclosure of a trade secret that: (A) is made: (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely for the purpose of reporting or investigating a
suspected violation of law or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 

8.    Specific Performance. Employee agrees that any violation by him of Sections 6 or 7 of this Agreement would be
highly injurious to the Company and would cause irreparable harm to the Company. By reason of the foregoing, Employee consents and agrees that if he violates or threatens to violate any provision(s) of Sections 6 or 7 of this Agreement, the Company
shall be entitled, in addition to any other rights and remedies that it may have, to apply to any court of competent jurisdiction for specific performance and/or injunctive or other equitable relief (without the requirement of posting of a bond or
other security) in order to enforce, or prevent any continuing or potential violation of, the provisions of such Section(s). The Employee also recognizes that the territorial, time and scope limitations set forth in Sections 6 and 7, as applicable,
are reasonable and are properly required and necessary for the protection of the Company and in the event that any such territorial, time or scope limitation is deemed to be unreasonable by a court of competent jurisdiction, the Company and the
Employee agree, and Employee submits, to the reduction of any or all of said territorial, time or scope limitations to such an area, period or scope as said court shall deem reasonable under the circumstances. If such partial enforcement is not
possible, the provision shall be deemed severed, and the remaining provisions of this Agreement shall remain in full force and effect. Employee acknowledges that Sections 6 and 7 of this Agreement shall survive termination or expiration of the
Employee’s employment. 
 9.    Termination. Notwithstanding the notice provision of Article 1 hereof,
Employee’s employment with the Company: (i) shall terminate upon the Employee’s resignation, death or disability, (ii) may be terminated without prior notice by the Board for Just Cause (as defined herein) and (iii) may be
terminated without cause by either party upon ten (I 0) days prior notice to the other party as set forth in Article 1 hereof. As used in this Agreement, “Just Cause” means any of the following, as determined by the Board, in its
reasonable judgment: (1) Employee’s continuous failure or continuous refusal to perform the duties and responsibilities as are requested of him by the Company; (2) Employee’s gross negligence or willful misconduct in the
performance of Employee’s duties or (3) the Employee is charged with an act of embezzlement against the Company or a felony. 

Effective as of the termination or expiration date of the Employee’s employment hereunder for any reason, or for no reason, or in the
event the Employee resigns, or his death or disability then, in any of such events, the Employee shall be paid his Base Salary and benefits through the date of expiration or termination and all the rights and unvested options granted to the Employee
pursuant to Articles 3 and 4 hereof shall cease and terminate as of the date of the Employee’s termination, expiration or resignation and thereafter shall be null and void and without further force or effect. 

  
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 10.    Notice. Any notice provided for in this Agreement must be
in writing and must be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested), sent by reputable overnight courier service (charges prepaid), or sent by confirmed facsimile at the address indicated
below: 
  

			
	To the Company:	    	To Employee:
		
	AMYLYX PHARMACEUTICALS, INC.	    	Patrick D. Yeramian, M.D.
	43 Thorndike Street	    	1815 Parkside Cir. S.
	Cambridge, MA 02141	    	Boca Raton, FL 33486
	Attn: Justin Klee, President	    	

 or such other address and/or to the attention of such other person as the recipient party shall have designated by notice
given in accordance with this Section 10. All notices under this Agreement shall be deemed to have been given: (a) if delivered in person or sent by confirmed facsimile then on the date delivered, (b) if by overnight courier, one
(1) day following delivery to recipient, facsimile transmission or delivery to the courier (as the case may be) or (c) if mailed, three (3) business days following deposit in the U.S. mail. 

 

	 	11.	 Code Section 409A Compliance. 

(a)    The intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from Code
Section 409A, and, accordingly, this Agreement shall be interpreted and applied so as to be in compliance therewith. The Company and the Executive agree to work together in good faith to consider amendments to this Agreement and to take such
reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to the Executive under Section 409A. 

(b)    A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement
providing for the payment of any amounts or benefits upon or following a termination of employment that are considered “non-qualified deferred compensation” under Code Section 409A unless such
termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination”, “termination of employment”, or like
terms shall mean “separation from service”. If the Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment
that is considered non-qualified deferred compensation under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall be made or provided at the date
which is the earlier of (A) the expiration of the six (6) month period measured from the date of such “separation from service” of the Executive, and (B) the date of the Executive’s death (the “Delay Period”).
Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 26(b) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or
reimbursed to the Executive in a lump sum and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. 

  
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 (c)    With regard to any provision herein that provides for
reimbursement of costs and expenses or in-kind benefits, except as permitted by Code Section 409A: (i) the right to reimbursement or in-kind benefits shall not
be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any
arrangement covered by Internal Revenue Code Section 105(b) solely because such expenses are subject to a limit related to the period arrangement is in effect and (iii) such payments shall be made on or before the last day of
Executive’s taxable year following the taxable year in which the expense occurred. 
 For purposes of Code Section 409A, the
Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. In no event may the Executive, directly or indirectly, designate the calendar
year of any payment to be made under this Agreement that is considered nonqualified deferred compensation. In no event shall the timing of Executive’s execution of the General Release, directly or indirectly, result in the Executive designating
the calendar year of payment, and if a payment that is subject to execution of the General Release could be made in more than one taxable year, payment shall be made in the later taxable year. 

12.    General Provisions. 

(a)    Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision or any other jurisdiction, and this Agreement shall be reformed, construed and enforced in such jurisdiction so as to best give effect to the intent of the parties under this Agreement. 

(b)    Complete Agreement.    This Agreement embodies the complete agreement and understanding
among the parties and supersedes and preempts any prior understandings, agreements or representations by or between the parties, written or oral, which may have related to the subject matter hereof in any way. 

(c)    Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an
original and all of which taken together constitute one and the same agreement. 
 (d)    Success and Assigns.
Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Employee and the Company, and their respective heirs, legal representatives, successors and assigns, including any successor to the
Company by means of merger or consolidation; provided that the rights and obligations of Employee under this Agreement shall not be assignable. The Company is defined to mean an affiliate or subsidiary of the Company. 

  
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 (e)    Choice of Law. This Agreement shall be governed and
construed in accordance with the internal laws of the Commonwealth of Massachusetts without giving effect to any choice of law or conflict of law provision or rule (whether of the Commonwealth of Massachusetts or any other jurisdiction) that would
cause the application of the laws of any jurisdiction other than the Commonwealth of Massachusetts. 
 (f)    Consent
to Jurisdiction. The parties irrevocably consent and submit to the jurisdiction of any local, state or federal court within the County of Middlesex and in The Commonwealth of Massachusetts for the enforcement of this Agreement. The parties
irrevocably waive any objection he may have to venue in the defense of an inconvenient forum to the maintenance of such actions or proceedings to enforce this Agreement. 

(g)    Waiver. The failure of any party to enforce any of the provisions of this Agreement shall in no way be
construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. 

(h)    Headings. The headings contained in this Agreement are for convenience of reference only and shall not
affect the meaning or interpretation of this Agreement. 
 (i)    Amendments. This Agreement shall not be amended
or modified unless pursuant to an agreement in writing signed by the Company and the Employee. 

(j)    Survival. Notwithstanding anything to the contrary herein contained, Sections 6, 7, 8, 9, 11 and 12 hereof
shall remain in effect following the expiration or termination of this Agreement and Employee’s employment hereunder and the rights and obligations of the parties shall survive the termination or expiration of Employee’s employment to the
extent that any performance is required following termination or expiration of this Agreement. 
 (k)    Termination
of Consulting Agreement.    Effective as of the Effective Date of this Agreement, the Consulting Agreement dated as of January 25, 2018 by and between the Company and DLx Therapeutics LLC (the “Consulting
Agreement”) shall be declared null and void and without further force or effect except for those terms which shall survive and remain in full force and effect; provided; however that the Non-Qualified
Stock Option Agreement dated February 16, 2018 by and between the Company and Patrick D. Yeramian, M.D. shall remain in full force and effect in accordance with its terms. 

Signature Page Follows 

  
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 IN WITNESS WHEREOF, the patties hereto have, executed this Agreement as a document,
under seal, on the date first written above. 
  

									
	AMYLYX PHARMACEUTICALS, INC.	 		 		 	EMPLOYEE:
					
	By:	 	 /s/ Justin Klee
	 		 		 	 /s/ Patrick Yeramian

	Justin Klee, President	 		 		 	Patrick Yeramian, M.D.
	Hereunto Duly Authorized	 		 		 	

  
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 SCHEDULE 1 

The Employee’s Base Salary and Target Bonus are as follows: 
  

									
	 Compensation
	  	Engaged for
Twenty (20) Hours
Per Week	 	 	Engaged for
Forty (40) Hours
Per Week	 
	 Base Salary
	  	$	180,000.00	 	 	$	360,000.00	 
	 Target Bonus %
	  	 	30	% 	 	 	30	% 
	 Total Target Cash
	  	$	234,000.00	 	 	$	468,000.00	 

  
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 EXHIBIT “A” 

SECTION 3(b): GOALS AND OBJECTIVES 

  
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 43 Thorndike Street 

Cambridge, MA 02141 
 Phone: 1-561-571-6262 

November 26, 2019 
 Patrick D. Yeramian, M.D.

 1815 SW 22nd Avenue Circle 

Boca Raton, FL. 33486 
 Dear Dr. Yeramian: 

Reference is hereby made to a certain Employment Agreement dated as of March 18, 2019 (the “Agreement”), by and between Amylyx
Pharmaceuticals, Inc. (the “Company”) and Patrick D. Yeramian, M.D. (the “Employee”). 
 In accordance with Article 1 of
the Agreement, you were initially employed for a period of twenty (20) hours per week with the understanding that your time would be increased to forty (40) hours by mutual agreement. Article 1 also provides that the increase in hours
would not occur prior to December 31, 2019. 
 Recognizing your increasing workload and expanding duties as Chief Medical Officer, you and
the Company have agreed that your time commitment will increase to forty (40) hours per week as of November 26, 2019 and, in addition, the last sentence of the Agreement prohibiting any increase in hours prior to December 31, 2019 is
hereby stricken and deleted from the Agreement by mutual consent. Accordingly, as of November 26, 2019 you are employed by the Company on a full time basis which automatically, and in accordance with the terms of the Agreement, adjusts your
Base Salary and initiates the vesting of stock options as provided for in second paragraph of Section 4(a) of the Agreement. 
 For
your records, please countersign a copy of this Letter Agreement and return the same to me at your earliest convenience. 
  

									
	Kind regards.	 		 	AMYLYX PHARMACEUTICALS, INC.
					
		 		 		 	By:	 	 /s/ Joshua B. Cohen

		 		 		 	Joshua B. Cohen, Chief Executive Officer
		 		 		 	Hereunto Duly Authorized
		 	The within Letter Agreement, and terms and conditions herein are hereby acknowledged, accepted and agreed to:	 		 		 	
					
		 	 /s/ Patrick D. Yeramian
	 		 		 	
		 	Patrick D. Yeramian, M.D.EX-10.12

 Exhibit 10.12 

EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) is made between Amylyx Pharmaceuticals, Inc., a Delaware corporation (the
“Company”), and Joshua B. Cohen (the “Executive”) and is effective as of the closing of the Company’s first underwritten public offering of its equity securities pursuant to an effective registration statement
under the Securities Act of 1933, as amended (the “Effective Date”). Except with respect to the Restrictive Covenants Agreement and the Equity Documents (each as defined below) and subject to Section 12, this Agreement
supersedes in all respects all prior agreements between the Executive and the Company regarding the subject matter herein, including without limitation (i) the employment agreement between the Executive and the Company dated July 1, 2015
and later amended February 19, 2021 (the “Prior Agreement”), and (ii) any other offer letter, employment agreement or severance agreement. 

WHEREAS, the Company desires to continue to employ the Executive and the Executive desires to continue to be employed by the Company on the
new terms and conditions contained herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Employment. 
 (a)
Term. The Company shall employ the Executive and the Executive shall be employed by the Company pursuant to this Agreement commencing as of the Effective Date and continuing until such employment is terminated in accordance with the
provisions hereof (the “Term”). The Executive’s employment with the Company shall continue to be “at will,” meaning that the Executive’s employment may be terminated by the Company or the Executive at any time
and for any reason subject to the terms of this Agreement. 
 (b) Position and Duties. The Executive shall serve as the Co-Chief Executive Officer (“CEO”) of the Company and shall have such powers and duties as may from time to time be prescribed by the Board of Directors (the “Board”). In addition,
the Executive currently serves on the Company’s Board and shall continue to so serve for as long as the Executive remains the CEO, subject to the terms of any applicable governing documents or bylaws applicable to the Board; provided
that the Executive shall be deemed to have resigned from the Board and from any related positions upon ceasing to serve as CEO for any reason. The Executive shall devote the Executive’s full working time and efforts to the business and affairs
of the Company. Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the approval of the Board, or engage in religious, charitable or other community activities as long as such services and activities do not
interfere with the Executive’s performance of the Executive’s duties to the Company. 
 (c) Location. The
Executive’s primary work location will be in the Company’s office, currently located in Cambridge, Massachusetts; provided that the Executive may be required to travel regularly for business, consistent with the Company’s
business needs. 

 2. Compensation and Related Matters. 

(a) Base Salary. The Executive’s initial base salary shall be paid at the rate of $540,000 per year. The Executive’s base
salary shall be subject to periodic review by the Board or the Compensation Committee of the Board (the “Compensation Committee”). The base salary in effect at any given time is referred to herein as “Base
Salary.” The Base Salary shall be payable in a manner that is consistent with the Company’s usual payroll practices for its executive officers. 

(b) Incentive Compensation. The Executive shall be eligible to receive cash incentive compensation as determined by the Board or the
Compensation Committee from time to time. The Executive’s initial target annual incentive compensation shall be 60% of the Executive’s Base Salary. The target annual incentive compensation in effect at any given time is referred to herein
as “Target Bonus.” The actual amount of the Executive’s annual incentive compensation, if any, shall be determined in the sole discretion of the Board or the Compensation Committee. Any annual incentive compensation will be
paid no later than March 15th of the calendar year following the calendar year to which such bonus relates. Except as otherwise provided herein or as may be provided by the Board or the
Compensation Committee, the Executive must be employed by the Company on the date such incentive compensation is paid in order to earn or receive any annual incentive compensation. 

(c) Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive
during the Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its executive officers. 

(d) Other Benefits. The Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit
plans in effect from time to time, subject to the terms of such plans. 
 (e) Paid Time Off. The Executive shall be entitled to take
paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time. 

(f) Equity. The equity awards held by the Executive shall continue to be governed by the terms and conditions of the Company’s
applicable equity incentive plan(s) and the applicable award agreement(s) governing the terms of such equity awards (collectively, the “Equity Documents”); provided, however, and notwithstanding anything to the contrary in
the Equity Documents, Section 5(b) of this Agreement shall apply in the event of a termination by the Company without Cause or by the Executive for Good Reason outside the Change in Control Period, Section 6 of this Agreement shall apply
in the event of a Change in Control and Section 7(a)(ii) of this Agreement shall apply in the event of a termination by the Company without Cause or by the Executive for Good Reason in either event within the Change in Control Period (as such
terms are defined below). 
 3. Termination. The Executive’s employment hereunder may be terminated without any breach of this
Agreement under the following circumstances: 

  
 2 

 (a) Death. The Executive’s employment hereunder shall terminate upon death. 

(b) Disability. The Company may terminate the Executive’s employment if the Executive is disabled and unable to perform or expected
to be unable to perform the essential functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation for a period of 180 days (which need not be consecutive) in any 12-month period. If any question shall arise as to whether during any period the Executive is disabled so as to be unable to perform the essential functions of the Executive’s then existing position or
positions with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification in reasonable detail by a physician selected by the Company to whom the Executive or the
Executive’s guardian has no reasonable objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for the purposes of this Agreement be conclusive of the issue. The
Executive shall cooperate with any reasonable request of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such certification, the Company’s determination of such issue
shall be binding on the Executive. Nothing in this Section 3(b) shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C. §2601
et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq. 
 (c) Termination by the Company for
Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes of this Agreement, “Cause” shall mean any of the following: 

(i) conduct by the Executive constituting a material act of misconduct in connection with the performance of the Executive’s duties,
including, without limitation, (A) willful failure or refusal to perform material responsibilities that have been requested by the Board; (B) dishonesty to the Board with respect to any material matter; or (C) misappropriation of
funds or property of the Company or any of its subsidiaries or affiliates other than the occasional, customary and de minimis use of Company property for personal purposes; 

(ii) the commission by the Executive of acts satisfying the elements of (A) any felony or (B) a misdemeanor involving moral
turpitude, deceit, dishonesty or fraud; 
 (iii) any misconduct by the Executive, regardless of whether or not in the course of the
Executive’s employment, that would reasonably be expected to result in material injury or reputational harm to the Company or any of its subsidiaries or affiliates if the Executive were to continue to be employed in the same position; 

(iv) continued unsatisfactory performance or non-performance by the Executive of the Executive’s
duties hereunder (other than by reason of the Executive’s physical or mental illness, incapacity or disability) which has continued for more than 30 days following written notice of such unsatisfactory performance or non-performance from the Board; 

  
 3 

 (v) a breach by the Executive of any of the provisions contained in Section 9 of this
Agreement or the Restrictive Covenants Agreement; 
 (vi) a material violation by the Executive of any of the Company’s written
employment policies; or 
 (vii) the Executive’s failure to cooperate with a bona fide internal investigation or an investigation by
regulatory or law enforcement authorities, after being instructed by the Company to cooperate, or the willful destruction or failure to preserve documents or other materials known to be relevant to such investigation or the inducement of others to
fail to cooperate or to produce documents or other materials in connection with such investigation. 
 (d) Termination by the Company
without Cause. The Company may terminate the Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for
Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or (b) shall be deemed a termination without Cause. 

(e) Termination by the Executive. The Executive may terminate employment hereunder at any time for any reason, including but not limited
to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has completed all steps of the Good Reason Process (hereinafter defined) following the occurrence of any of the following events without
the Executive’s consent (each, a “Good Reason Condition”): 
 (i) a material diminution in the
Executive’s responsibilities, authority or duties; 
 (ii) a material diminution in the Executive’s Base Salary
except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees
of the Company; 
 (iii) a material change in the geographic location of the principal office of the Company to which the
Executive is assigned, such that there is an increase of at least thirty (30) miles of driving distance to such location from the Executive’s principal residence as of such change; or 

(iv) a material breach of this Agreement by the Company. 

The “Good Reason Process” consists of the following steps: 

(i) the Executive reasonably determines in good faith that a Good Reason Condition has occurred; 

(ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason Condition within 60 days of the
first occurrence of such condition; 

  
 4 

 (iii) the Executive cooperates in good faith with the Company’s
efforts, for a period of not less than 30 days following such notice (the “Cure Period”), to remedy the Good Reason Condition; 

(iv) notwithstanding such efforts, the Good Reason Condition continues to exist at the end of the Cure Period; and 

(v) the Executive terminates employment within 60 days after the end of the Cure Period. 

If the Company cures the Good Reason Condition during the Cure Period, Good Reason shall be deemed not to have occurred. 

4. Matters Related to Termination. 

(a) Notice of Termination. Except for termination as specified in Section 3(a), any termination of the Executive’s employment
by the Company or any such termination by the Executive shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall
indicate the specific termination provision in this Agreement relied upon. 
 (b) Date of Termination. “Date of
Termination” shall mean: (i) if the Executive’s employment is terminated by death, the date of death; (ii) if the Executive’s employment is terminated on account of disability under Section 3(b) or by the Company
for Cause under Section 3(c), the date on which Notice of Termination is given; (iii) if the Executive’s employment is terminated by the Company without Cause under Section 3(d), the date on which a Notice of Termination is given
or the date otherwise specified by the Company in the Notice of Termination; (iv) if the Executive’s employment is terminated by the Executive under Section 3(e) other than for Good Reason, 30 days after the date on which a Notice of
Termination is given, and (v) if the Executive’s employment is terminated by the Executive under Section 3(e) for Good Reason, the date on which a Notice of Termination is given after the end of the Cure Period. Notwithstanding the
foregoing, in the event that the Executive gives a Notice of Termination to the Company, the Company may unilaterally accelerate the Date of Termination and such acceleration shall not result in a termination by the Company for purposes of this
Agreement. 
 (c) Accrued Obligations. If the Executive’s employment with the Company is terminated for any reason, the Company
shall pay or provide to the Executive (or to the Executive’s authorized representative or estate) (i) any Base Salary earned through the Date of Termination; (ii) unpaid expense reimbursements (subject to, and in accordance
with, Section 2(c) of this Agreement); and (iii) any vested benefits the Executive may have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance
with the terms of such employee benefit plans (collectively, the “Accrued Obligations”). 

  
 5 

 (d) Resignation of All Other Positions. To the extent applicable, the Executive shall
be deemed to have resigned from all officer and board member positions that the Executive holds with the Company or any of its respective subsidiaries and affiliates upon the termination of the Executive’s employment for any reason. The
Executive shall execute any documents in reasonable form as may be requested to confirm or effectuate any such resignations. 
 5.
Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for Good Reason Outside the Change in Control Period. If the Executive’s employment is terminated by the Company without Cause as provided in
Section 3(d), or the Executive terminates employment for Good Reason as provided in Section 3(e), in each case outside of the Change in Control Period, then, in addition to the Accrued Obligations, and subject to (i) the
Executive signing a separation agreement and release in a form and manner satisfactory to the Company, which shall include, without limitation, a general release of claims against the Company and all related persons and entities that shall not
release the Executive’s rights under this Agreement, a reaffirmation of all of the Executive’s Continuing Obligations (as defined below), and, in the Company’s sole discretion, a one-year
post-employment noncompetition agreement, and shall provide that if the Executive breaches any of the Continuing Obligations, all payments of the Severance Amount shall immediately cease (the “Separation Agreement”), and
(ii) the Separation Agreement becoming irrevocable, all within 60 days after the Date of Termination (or such shorter period as set forth in the Separation Agreement), which shall include a seven (7) business day revocation period: 

(a) the Company shall pay the Executive an amount equal to the sum of (i) 12 months of the Executive’s Base Salary plus (ii) a pro-rata portion of the Target Bonus (pursuant to Section 2(b)) for the calendar year in which the Date of Termination occurs based on the number of days the Executive was employed by the Company in such
calendar year (the “Severance Amount”); and 
 (b) notwithstanding anything to the contrary in any applicable option
agreement or other stock-based award agreement, the stock options and other stock-based awards held by the Executive that are solely subject to time-based vesting (“Time-Based Equity Awards”) and that would have become fully vested
and exercisable or nonforfeitable had the Executive remained employed by the Company for the 12-month period immediately following the Date of Termination, shall immediately accelerate and become fully vested
and exercisable or nonforfeitable as of the later of (i) the Date of Termination or (ii) the effective date of the Release (the “Accelerated Vesting Date”), provided that in order to effectuate the accelerated
vesting contemplated by this subsection, the unvested portion of the Executive’s Time-Based Equity Awards that would otherwise be forfeited on the Date of Termination will be delayed until the earlier of (A) the effective date of the
Release (at which time acceleration will occur), or (B) the date that the Release can no longer become fully effective (at which time the unvested portion of the Executive’s Time-Based Equity Awards will be forfeited). Notwithstanding the
foregoing, no additional time-based vesting of the Time-Based Equity Awards shall occur during the period between the Date of Termination and the Accelerated Vesting Date; and 

  
 6 

 (c) subject to the Executive’s copayment of premium amounts at the applicable active
employees’ rate and the Executive’s proper election to receive benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay to the group health plan provider or the
COBRA provider a monthly payment equal to the monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company until the earliest of (i) the 12-month anniversary of the Date of Termination; (ii) the date that the Executive becomes eligible for group medical plan benefits under any other employer’s group medical plan; or (iii) the cessation
of the Executive’s health continuation rights under COBRA; provided, however, that if the Company determines that it cannot pay such amounts to the group health plan provider or the COBRA provider (if applicable) without potentially
violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then the Company shall convert such payments to payroll payments directly to the Executive for the time period specified above. Such
payments to the Executive shall be subject to tax-related deductions and withholdings and paid on the Company’s regular payroll dates. 

The amounts payable under Section 5, to the extent taxable, shall be paid out in substantially equal installments in accordance with the Company’s
payroll practice over 12 months commencing within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar
year, such payments, to the extent they qualify as “non-qualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), shall begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury
Regulation Section 1.409A-2(b)(2). 
 6. Change in Control. Upon a Change in Control,
except as otherwise explicitly set forth in the applicable equity award agreement, any stock options and other stock-based awards held by the Executive with conditions and restrictions relating to the attainment of performance goals
(“Performance-Based Equity Awards”), to the extent then outstanding and unearned, shall be deemed earned based on the greater of target or actual performance as measured through such Change in Control, and such Performance-Based
Equity Awards that are deemed earned shall be subject to time-based vesting, based on Executive’s continued employment, for the remainder of the performance period and shall be subject to accelerated vesting upon a termination of
Executive’s employment to the extent provided for in Section 7(a)(ii) below. Any Performance-Based Equity Awards that are not deemed earned upon a Change in Control shall be forfeited for no consideration upon such Change in Control. 

7. Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for Good Reason within the Change in Control
Period. The provisions of this Section 7 shall apply in lieu of, and expressly supersede, the provisions of Section 5 if (i) the Executive’s employment is terminated either (a) by the Company without Cause as provided in
Section 3(d), or (b) by the Executive for Good Reason as provided in Section 3(e), and (ii) the Date of Termination is on or within three (3) months prior to or 12 months after the occurrence of the first event constituting
a Change in Control (such period, the “Change in Control Period”). These provisions shall terminate and be of no further force or effect after the Change in Control Period. 

 

  
 7 

 (a) If the Executive’s employment is terminated by the Company without Cause as
provided in Section 3(d) or the Executive terminates employment for Good Reason as provided in Section 3(e) and in each case the Date of Termination occurs during the Change in Control Period, then, in addition to the Accrued Obligations,
and subject to the signing of a general release of claims against the Company and all related persons and entities that shall not release the Executive’s rights under this Agreement (the “Release”) by the Executive and the
Release becoming fully effective, all within the time frame set forth in the Release but in no event more than 60 days after the Date of Termination: 

(i) the Company shall pay the Executive a lump sum in cash in an amount equal to 1.5 times the sum of (A) the
Executive’s then-current Base Salary (or the Executive’s Base Salary in effect immediately prior to the Change in Control, if higher) plus (B) the Executive’s Target Bonus for the then-current year (or the Executive’s Target
Bonus in effect immediately prior to the Change in Control, if higher) (the “Change in Control Payment”); and 

(ii) notwithstanding anything to the contrary in any applicable option agreement or other stock-based award agreement, all
Time-Based Equity Awards and any Performance-Based Equity Awards that are then outstanding and eligible to vest based on Executive’s continued employment as provided for under Section 6 above shall immediately accelerate and become
fully vested and exercisable or nonforfeitable as of the Accelerated Vesting Date, provided that in order to effectuate the accelerated vesting contemplated by this subsection, the unvested portion of the Executive’s Time-Based Equity
Awards and Performance-Based Equity Awards that would otherwise be forfeited on the Date of Termination will be delayed until the earlier of (A) the effective date of the Release (at which time acceleration will occur), or (B) the date
that the Release can no longer become fully effective (at which time the unvested portion of the Executive’s Time-Based Equity Awards and Performance-Based Equity Awards will be forfeited). Notwithstanding the foregoing, no additional
time-based vesting of the Time-Based Equity Awards or Performance-Based Equity Awards shall occur during the period between the Date of Termination and the Accelerated Vesting Date; and 

(iii) subject to the Executive’s copayment of premium amounts at the applicable active employees’ rate and the
Executive’s proper election to receive benefits under COBRA, the Company shall pay to the group health plan provider or the COBRA provider a monthly payment equal to the monthly employer contribution that the Company would have made to provide
health insurance to the Executive if the Executive had remained employed by the Company until the earliest of (A) the 18-month anniversary of the Date of Termination; (B) the date that the Executive
becomes eligible for group medical plan benefits under any other employer’s group medical plan; or (C) the cessation of the Executive’s health continuation rights under COBRA; provided, however, that if the Company determines
that it cannot pay such amounts to the group health plan provider or the COBRA provider (if applicable) without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then the
Company shall convert such payments to payroll payments directly to the Executive for the time period specified above. Such payments to the Executive shall be subject to tax-related deductions and withholdings
and paid on the Company’s regular payroll dates. 

  
 8 

 The amounts payable under this Section 7(a), to the extent taxable, shall be paid or commence to be
paid within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, such payments to the extent they qualify
as “non-qualified deferred compensation” within the meaning of Section 409A of the Code, shall be paid or commence to be paid in the second calendar year by the last day of such 60-day period. 
 (b) Additional Limitation. 

(i) Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or
distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code,
and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of
all of the Aggregate Payments shall be $1.00 less than the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would result in the
Executive receiving a higher After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following order, in each
case, in reverse chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (A) cash payments not subject to
Section 409A of the Code; (B) cash payments subject to Section 409A of the Code; (C) equity-based payments and acceleration; and (D) non-cash forms of benefits; provided that in
the case of all the foregoing Aggregate Payments all amounts or payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or
(c) shall be reduced before any amounts that are subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c). 

(ii) For purposes of this Section 7(b), the “After Tax Amount” means the amount of the Aggregate Payments
less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Executive shall be deemed to
pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual
taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. 

(iii) The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 7(b)(i)
shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the Date
of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. 

  
 9 

 (c) Definitions. For purposes of this Agreement, “Change in Control”
shall have the meaning ascribed to the term “Sale Event” as used in the Company’s 2022 Stock Option and Incentive Plan. 
 8.
Section 409A. 
 (a) Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation
from service within the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or
benefit that the Executive becomes entitled to under this Agreement or otherwise on account of the Executive’s separation from service would be considered deferred compensation otherwise subject to the 20 percent additional tax imposed
pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (i) six
months and one day after the Executive’s separation from service, or (ii) the Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the
installments shall be payable in accordance with their original schedule. 
 (b) All in-kind benefits
provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or
reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other
aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

(c) To the extent that any payment or benefit described in this Agreement constitutes
“non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such
payments or benefits shall be payable only upon the Executive’s “separation from service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in
Treasury Regulation Section 1.409A-1(h). 
 (d) The parties intend that this Agreement will be
administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments
hereunder comply with Section 409A of the Code. Each payment pursuant to this Agreement or the Restrictive Covenants Agreement is intended to constitute a separate payment for purposes of Treasury Regulation
Section 1.409A-2(b)(2). The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all
related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 

  
 10 

 (e) The Company makes no representation or warranty and shall have no liability to the
Executive or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

9. Continuing Obligations.  

(a) Restrictive Covenants Agreement. In consideration for the increase of the Executive’s Base Salary and Target Bonus provided for
in this Agreement, such increases the Executive acknowledges the Executive would not otherwise be entitled to receive and are consideration that is fair and reasonable and independent of the Executive’s continued employment with the Company,
the Executive is required to enter into the Employee Confidentiality, Assignment and Nonsolicitation Agreement, attached hereto as Exhibit A (the “Restrictive Covenants Agreement”). For purposes of this Agreement, the
obligations in this Section 9, the obligations that arise in the Restrictive Covenants Agreement and the obligations that arise in Sections 6-8 of the Prior Agreement, and any other agreement relating to
confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations.” 

(b) Third-Party Agreements and Rights. The Executive hereby confirms that the Executive is not bound by the terms of any agreement with
any previous employer or other party which restricts in any way the Executive’s use or disclosure of information, other than confidentiality restrictions (if any), or the Executive’s engagement in any business. The Executive represents to
the Company that the Executive’s execution of this Agreement, the Executive’s employment with the Company and the performance of the Executive’s proposed duties for the Company will not violate any obligations the Executive may have
to any such previous employer or other party. In the Executive’s work for the Company, the Executive will not disclose or make use of any information in violation of any agreements with or rights of any such previous employer or other party,
and the Executive will not bring to the premises of the Company any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other party.

 (c) Litigation and Regulatory Cooperation. During and after the Executive’s employment, the Executive shall cooperate fully
with the Company in (i) the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was
employed by the Company, and (ii) the investigation, whether internal or external, of any matters about which the Company believes the Executive may have knowledge or information. The Executive’s full cooperation in connection with such
claims, actions or investigations shall include, but not be limited to, being available to meet with counsel to answer questions or to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times.
During and after the Executive’s employment, the Executive also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review
relates to events or occurrences that transpired while the Executive was employed by the Company. The Company shall reimburse the Executive for any reasonable
out-of-pocket expenses incurred in connection with the Executive’s performance of obligations pursuant to this Section 9(c). 

 

  
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 (d) Relief. The Executive agrees that it would be difficult to measure any damages
caused to the Company which might result from any breach by the Executive of the Continuing Obligations, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, the Executive agrees that if the
Executive breaches, or proposes to breach, any portion of the Continuing Obligations, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such
breach without showing or proving any actual damage to the Company. 
 10. Consent to Jurisdiction. The parties hereby consent to the
jurisdiction of the state and federal courts of the Commonwealth of Massachusetts. Accordingly, with respect to any such court action, the Executive (a) submits to the exclusive personal jurisdiction of such courts; (b) consents to
service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process. 

11. Waiver of Jury Trial. Each of the Executive and the Company irrevocably and unconditionally WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY
PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE EXECUTIVE’S EMPLOYMENT BY THE COMPANY OR ANY AFFILIATE OF THE COMPANY, INCLUDING WITHOUT LIMITATION THE EXECUTIVE’S OR THE
COMPANY’S PERFORMANCE UNDER, OR THE ENFORCEMENT OF, THIS AGREEMENT. 
 12. Integration. This Agreement, together with the
Restrictive Covenants Agreement and the certain Director and Officer Indemnification Agreement to which the Executive and the Company are parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements between the parties concerning such subject matter, including the Prior Agreement, provided that Sections 6-8 of the Prior Agreement, the Equity Documents and any other
agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall remain in full force and effect. 
 13.
Withholding; Tax Effect. All payments made by the Company to the Executive under this Agreement shall be net of any tax or other amounts required to be withheld by the Company under applicable law. Nothing in this Agreement shall be construed
to require the Company to make any payments to compensate the Executive for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit. 

  
 12 

 14. Assignment; Successors and Assigns. Neither the Executive nor the Company may
make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement
(including the Restrictive Covenants Agreement) without the Executive’s consent to any affiliate or to any person or entity with whom the Company shall hereafter effect a reorganization or consolidation, into which the Company merges or to whom
it transfers all or substantially all of its properties or assets; provided, further that if the Executive remains employed or becomes employed by the Company, the purchaser or any of their affiliates in connection with any such transaction,
then the Executive shall not be entitled to any payments, benefits or vesting pursuant to Section 5 or Section 7 of this Agreement solely as a result of such transaction. This Agreement shall inure to the benefit of and be binding upon the
Executive and the Company, and each of the Executive’s and the Company’s respective successors, executors, administrators, heirs and permitted assigns. In the event of the Executive’s death after the Executive’s termination of
employment but prior to the completion by the Company of all payments due to the Executive under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to the
Executive’s death (or to the Executive’s estate, if the Executive fails to make such designation). 
 15. Enforceability. If
any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder
of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be
valid and enforceable to the fullest extent permitted by law. 
 16. Survival. For the avoidance of doubt, the provisions of this
Agreement shall survive the termination of the Executive’s employment to the extent necessary to effectuate the terms contained herein. 

17. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of
any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach. 
 18. Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be
sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed
in writing with the Company or, in the case of the Company, at its main offices, attention of the Board. 
 19. Amendment. This
Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative of the Company. 

  
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 20. Effect on Other Plans and Agreements. An election by the Executive to resign for
Good Reason under the provisions of this Agreement shall not be deemed a voluntary termination of employment by the Executive for the purpose of interpreting the provisions of any of the Company’s benefit plans, programs or policies. Nothing in
this Agreement shall be construed to limit the rights of the Executive under the Company’s benefit plans, programs or policies except as otherwise provided in Section 9 hereof, and except that the Executive shall have no rights to any
severance benefits under any Company severance pay plan, offer letter or otherwise. In the event that the Executive is party to an agreement with the Company providing for payments or benefits under such plan or agreement and under this Agreement,
the terms of this Agreement shall govern and the Executive may receive payment under this Agreement only and not both. Further, Section 5 and Section 7 of this Agreement are mutually exclusive and in no event shall the Executive be
entitled to payments or benefits pursuant to both Section 5 and Section 7 of this Agreement. 
 21. Governing Law. This is a
Massachusetts contract and shall be construed under and be governed in all respects by the laws of the Commonwealth of Massachusetts, without giving effect to the conflict of laws principles thereof. With respect to any disputes concerning federal
law, such disputes shall be determined in accordance with the law as it would be interpreted and applied by the United States Court of Appeals for the First Circuit. 

22. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be
taken to be an original; but such counterparts shall together constitute one and the same document. 
 [Signature page follows] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement effective on the Effective
Date. 
  

			
	AMYLYX PHARMACEUTICALS, INC.
		
	By:	 	
                     
           

	Its:	 	              

	
	EXECUTIVE
	
	      

	Joshua B. Cohen

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