Document:

Exhibit 10.1

 

	Assembly Biosciences, Inc.

 

May 31, 2018

 

PERSONAL AND CONFIDENTIAL

 

David J. Barrett

3290 Creamery Rd.

New Hope, Pennsylvania 18938

 

		Re:	General Release of Claims Agreement

 

Dear David:

 

This letter (this “Agreement”)
provides notice to you that effective today, May 31, 2018 (the “Separation Date”), your employment with Assembly
Biosciences, Inc. (the “Company”) is being terminated without Cause pursuant to Section 9(e) of that certain
Employment Agreement by and between you and the Company entered into as of January 15, 2014, with an effective date of December
22, 2013 (the “Employment Agreement”). Each capitalized term used herein and not otherwise defined shall have
the meaning assigned to such term in the Employment Agreement. The Company thanks you for your contributions and wishes you well
in your future endeavors.

 

This Agreement also sets forth the terms
of the Release referenced in Section 10(c) of the Employment Agreement and you acknowledge that this Agreement becoming effective
is a condition of your right to receive the Separation Benefits defined in such Section 10(c). Finally, you are eligible to receive
additional compensation in return for you providing consulting services to the Company, as described in more detail below.

 

Regardless of whether you enter into this
Agreement, you shall be entitled to the Accrued Benefits as defined in Section 10(a) of the Employment Agreement. Also regardless
of whether you enter into this Agreement, you will remain bound by your continuing obligations to the Company under your June 2015
Proprietary Information and Inventions Agreement and under Sections 6 and 7 of your Employment Agreement [Confidential Information
and Inventions; Non-Competition and Non-Solicitation], and the other provisions of the Employment Agreement which by their terms
or by the nature of the obligation survive the termination of your employment (the “Continuing Obligations”).
Such Continuing Obligations include, without limitation, your confidentiality obligations, return of property obligations, non-competition
obligations, and non-solicitation obligations.

 

The remainder of this Agreement sets forth
the terms of the Agreement. You acknowledge that you are entering into this Agreement knowingly and voluntarily. With those understandings,
you and the Company agree as follows:

 

    	 

     

    

 

1.       Separation
from Employment

 

This confirms that your employment with
the Company shall terminate on the Separation Date. Accordingly, your right to participate in the employee benefit plans of the
Company shall cease on the Separation Date, except as noted in Section 2(d) below, if applicable.

 

2.       Separation
Benefits

 

Subject to this Agreement
becoming effective and your compliance with this Agreement and the Continuing Obligations, the Company shall provide you with the
following “Separation Benefits” as set forth in Section 10(c) of the Employment Agreement except as modified
by this Agreement:

 

(a)       Separation
Pay. The Company shall provide you with continued payment of your final Base Salary (which is at the annualized rate of $460,000)
for a period of twelve (12) months following the date of your “separation from service” within the meaning of Treasury
Regulation §1.409A-1(h) (such separation date being referred to in this Agreement as the “Separation from Service
Date,” such payment being the “Separation Pay” and such twelve (12) month period commencing upon the
Separation of Service Date being the “Separation Pay Period”). The first installment of the Separation Pay will
be paid on the Company’s first regular payday occurring after the later of (i) sixty (60) days after the Separation Date
and (ii) the Separation from Service Date in an amount equal to the sum of payments of Base Salary that would have been paid if
you had remained in the employment of the Company for the period from the Separation from Service Date through the payment date.
The remaining installments will be paid until the end of the Separation Pay Period at the same rate as the Base Salary in accordance
with the Company’s normal payroll practices for its employees. All payments will be less applicable
taxes and withholdings, in accordance with the Company’s normal payroll practices for its employees.

 

(b)       Acceleration
of Equity Awards. The table below sets forth all of your outstanding Equity Awards (as defined in the Employment Agreement)
as of the date hereof. Notwithstanding anything to the contrary ion the Employment Agreement or in the applicable equity award
agreements, all Equity Awards which would have vested during the twelve (12) months following the Separation Date shall accelerate
and vest on the Separation Date as set forth below:

 

	Equity
 Award	 	Number of
 Shares
 Underlying
 Award	 	 	Date of Grant	 	Vested Shares
 as of
 Separation
 Date	 	 	Shares to be
 Accelerated, on

                                                                                 the Separation
 Date
	 	 	End of
 Term
	2017-86	 	 	25,000	 	 	March 29, 2017	 	 	14,583	 	 	 	10,417	 	 	March 29, 2027
	2014-17	 	 	741,800	 	 	July 10, 2014	 	 	700,136	 	 	 	0	 	 	July 10, 2024

 

(c)       Extension
of Exercise Period. Pursuant to the terms of your Employment Agreement, the exercise period for all vested Stock Options shall
be extended until the end of their respective terms unless earlier terminated in accordance with the terms of the applicable equity
award agreement.

 

    	2

     

    

 

(d)       Health
Benefit. Notwithstanding anything in the contrary in the Employment Agreement, provided that you properly and timely elect
to continue your health insurance benefits (including health, dental and/or vision) and remain eligible under COBRA after the Separation
Date, the Company pay your applicable COBRA premiums, less any required withholding, for the eighteen (18) months following your
Separation Date or until you become eligible under another employer’s health insurance, whichever is earlier (the “Health
Benefit”).

 

3.       Consulting
Agreement

 

Upon
signing this Agreement, the Company will enter into the consulting agreement set forth in Exhibit A attached hereto (the “Consulting
Agreement”) to be effective as of June 1, 2018 that shall provide for your continuation of service to the Company on
the terms and subject to the conditions set forth therein. 

 

4.       Release
of Claims

 

In consideration for, among other terms,
the Separation Benefits, to which you acknowledge you would otherwise not be entitled, you, on behalf of yourself and your heirs,
executors, representatives, agents, insurers, administrators, successors and assigns (collectively the “Releasors”)
voluntarily release and forever discharge the Company, its affiliated and related entities, its and their respective predecessors,
successors and assigns, its and their respective employee benefit plans and fiduciaries of such plans, the Company’s former
affiliated professional employer organization, Insperity PEO Services, L.P., and the current and former officers, directors, shareholders,
employees, attorneys, insurers, accountants and agents of each of the foregoing in their official and personal capacities (collectively
referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every
name and nature, known or unknown (“Claims”) that, as of the date when you sign this Agreement, you and the
other Releasors have, ever had, now claim to have or ever claimed to have had against any or all of the Releasees. This release
includes, without limitation, all Claims: relating to your employment by the Company and the termination of your employment; of
wrongful discharge or violation of public policy; of breach of contract; of defamation or other torts; of retaliation or discrimination
under federal, state or local law (including, without limitation, Claims of discrimination or retaliation under the Age Discrimination
in Employment Act, the Americans with Disabilities Act, Title VII of the Civil Rights Act of 1964, the New York State Human Rights
Law, the New York City Human Rights Law, the Pennsylvania Human Relations Act, the Indiana Civil Rights Law and the Pennsylvania
Whistleblower Law); under any other federal or state statute (including, without limitation, Claims under the Fair Labor Standards
Act and the Family and Medical Leave Act); for wages, bonuses, incentive compensation, commissions, stock, stock options, vacation
pay or any other compensation or benefits, either under the New York Labor Law, the Indiana Wage Payment and Wage Claims Acts,
or otherwise; and for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages,
injunctive relief and attorney’s fees; provided, however, that this release shall not affect your vested rights under
the Company’s Section 401(k) plan or your rights under this Agreement, and shall not waive any rights that cannot be
waived as a matter of law.

 

    	3

     

    

 

5.       Non-Disparagement

 

You agree not to make any disparaging statements
concerning the Company, or any of its affiliates, or its or their current or former officers, directors, shareholders, employees
or agents, or any of the Company’s or its respective affiliates’ products or services. These non-disparagement obligations
shall not in any way affect your obligation to testify truthfully in any legal proceeding.

 

6.       Other
Provisions

 

(a)       Termination
of Payments. If you breach any of your obligations under this Agreement or your Continuing Obligations, in addition to any
other legal or equitable remedies it may have for such breach, the Company shall have the right to terminate and recover its payments
to you or for your benefit under this Agreement. The termination of such payments in the event of your breach will not affect your
obligations under this Agreement or your Continuing Obligations.

 

(b)       Protected
Disclosures and Other Protected Actions. Nothing contained in this Agreement or in your Continuing Obligations limits your
ability to file a charge or complaint with any federal, state or local governmental agency or commission (a “Government
Agency”). In addition, nothing contained in this Agreement or your Continuing Obligations limits your ability to communicate
with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government
Agency, including your ability to provide documents or other information, without notice to the Company, nor does anything contained
in this Agreement apply to truthful testimony in litigation. If you file any charge or complaint with any Government Agency and
if the Government Agency pursues any claim on your behalf, or if any other third party pursues any claim on your behalf, you waive
any right to monetary or other individualized relief (either individually, or as part of any collective or class action); provided
that nothing in this Agreement limits any right you may have to receive a whistleblower award or bounty for information provided
to the Securities and Exchange Commission.

 

(c)       Absence
of Reliance. In signing this Agreement, you are not relying upon any promises or representations made by anyone at or on behalf
of the Company or Insperity.

 

(d)       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.

 

    	4

     

    

 

(e)       Waiver.
No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the waiving party. The failure
of a party to require the performance of any term or obligation of this Agreement, or the waiver by a 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.

 

(f)       Jurisdiction.
You and the Company hereby agree that the state and federal courts situated in Indianapolis, Indiana shall have the exclusive jurisdiction
to consider any matters related to this Agreement, including without limitation any claim of a violation of this Agreement. With
respect to any such court action, you submit to the jurisdiction of such courts and you acknowledge that venue in such courts is
proper.

 

(g)       Relief.
You agree that it would be difficult to measure any harm caused to the Company that might result from any breach by you of your
promises set forth in Section 4 of this Agreement. You further agree that money damages would be an inadequate remedy for any breach
of Sections 4 or Section 5. Accordingly, you agree that if you breach, or propose to breach, Section 4 or Section 5, the Company
shall be entitled, in addition to all other remedies 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 and without the necessity of posting a bond.

 

(h)       Governing
Law; Interpretation. This Agreement shall be interpreted and enforced under the laws of the State of Indiana, without regard
to conflict of law principles. In the event of any dispute, this Agreement is intended by the parties to be construed as a whole,
to be interpreted in accordance with its fair meaning, and not to be construed strictly for or against either you or the Company
or the “drafter” of all or any portion of this Agreement.

 

(i)       Entire
Agreement. This Agreement and the exhibits attached hereto constitute the entire agreement between you and the Company. This
Agreement supersedes any previous agreements or understandings between you and the Company, except the Continuing Obligations,
the Company’s applicable stock option plan and your equity award agreements (as such documents may be amended by Sections
2(b) and 2(c) above), and any other obligations specifically preserved in this Agreement.

 

(j)       Time
for Consideration; Effective Date. You acknowledge that you have knowingly and voluntarily entered into this Agreement and
that the Company advises you to consult with an attorney before signing this Agreement. You understand and acknowledge that you
have been given the opportunity to consider this Agreement for twenty-one (21) days from your receipt of this Agreement before
signing it (the “Consideration Period”). To accept this Agreement, you must return a signed original or a signed
PDF copy of this Agreement so that it is received by the Company’s General Counsel (elizabeth@assemblybio.com) at or before
the expiration of the Consideration Period. If you sign this Agreement before the end of the Consideration Period, you acknowledge
that such decision was entirely voluntary and that you had the opportunity to consider this Agreement for the entire Consideration
Period. For the period of seven (7) days from the date when you sign this Agreement, you have the right to revoke this Agreement
by written notice to the Company’s General Counsel, provided that such notice is delivered so that it is received at or before
the expiration of the seven (7) day revocation period. This Agreement shall not become effective or enforceable during the revocation
period. This Agreement shall become effective on the first business day following the expiration of the revocation period (the
“Effective Date”).

 

    	5

     

    

 

(k)       Counterparts.
This Agreement may be executed in separate counterparts. When both counterparts are signed, they shall be treated together as one
and the same document.

 

[signature page follows]

 

    	6

     

    

 

Please indicate your agreement to the terms of this Agreement
by signing and returning to the Company’s General Counsel the original or a PDF copy of this letter within the time period
set forth above.

 

Sincerely,

 

ASSEMBLY BIOSCIENCES, INC.

 

	By:	/s/ Derek Small	 	May 31, 2018
	 	Derek Small	 	Date
	 	Chief Executive Officer and President	 	 

 

You are advised to consult with an attorney before signing this
Agreement. This is a legal document. Your signature will commit you to its terms. By signing below, you acknowledge that you have
carefully read and fully understand all of the provisions of this Agreement and that you are knowingly and voluntarily entering
into this Agreement.

 

	/s/ David J. Barrett	 	May 31, 2018
	David J. Barrett	 	Date

 

    	7Exhibit 10.2

 

CONSULTING AGREEMENT

 

This CONSULTING
AGREEMENT (this “Consulting Agreement”) is executed as of May 31, 2018 to be effective as of June 1, 2018 (the
“Effective Date”), by and between Assembly Biosciences, Inc., a Delaware corporation with its principal place
of business at 11711 N. Meridian Street, Suite 301, Carmel, IN 46032 (the “Company”), and David J. Barrett residing
at 3290 Creamery Rd., New Hope, PA 18938-5630 (the “Consultant”). This Consulting Agreement is being entered
into by the parties pursuant to that certain Separation Agreement dated May 31, 2018 (the “Separation Agreement”)
and is Exhibit A to such Separation Agreement.

 

WITNESSETH:

 

WHEREAS,
Company desires to engage Consultant to provide certain strategic advisory services on an independent contractor basis as outlined
below, and Consultant wishes to provide such services to Company; and

 

WHEREAS,
Company and Consultant desire to establish and document the terms and conditions of such consulting relationship between them.

 

NOW, THEREFORE,
in consideration of the mutual promises and obligations of the parties set forth herein and for other good and valuable consideration,
the receipt and legal sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1.           Appointment
of Consultant; Services. Company appoints Consultant and Consultant hereby accepts appointment as consultant to the Company.
In this capacity, Consultant shall perform strategic advisory services and other projects as may be requested from time to time
by the Chief Executive Officer and other executive officers of the Company, and agreed to by Consultant, including providing an
orderly transition of Consultant’s responsibilities to the Chief Operating Officer and Chief Financial Officer and providing
strategic advisory services to the executive officers (the “Services”). Consultant and Company shall work together
to delineate the scope of each project and the timeline and deliverables related thereto. During the first six months of this Consulting
Agreement (the “Initial Consulting Period”), Consultant is expected to work at least 30 hours per week in the
performance of the Services, which Company and Consultant believe reflects more than 50% of his average weekly service level with
the Company over the 36 months prior to the Effective Date. During the twelve months following the Initial Consulting Period, it
is anticipated that Consultant will work no more than 10 hours per week for the Company, which is less than 20% of his average
weekly service level with the Company over the 36 months prior to the end of the Initial Consulting Period.

 

2.            Term; Termination. Upon the
Separation Agreement becoming effective, this Consulting Agreement will be effective as of the Effective Date and will continue
in effect until and through November 30, 2019 (the “Term”). This Consulting Agreement may be terminated at
any time by Consultant, with or without Cause (as defined in the Amended and Restated 2014 Stock Incentive Plan, as amended),
and without prejudice to any right or remedy Consultant may have due to any failure of the other party to perform their obligations
under this Consulting Agreement, upon fifteen (15) days written notice to the other party. The Company may, in addition to
any other rights it may have at law or in equity, terminate this Consulting Agreement immediately and without prior notice for
Cause or if Consultant refuses to or is unable to perform the Services, including by reason of death or disability (as determined
in the reasonable discretion of the Company) or if Consultant is in breach of any material provision of this Consulting Agreement
or the Separation Agreement. In the event of a dispute over what constitutes a breach hereunder or a termination for Cause, the
parties shall agree to resolve the matter in accordance with Section 15.

 

     

     

    

  

3.           Duties
of Consultant. Consultant agrees to faithfully, diligently, competently, and to the best of his ability perform the Services;
provided, that Consultant will at all times retain sole and absolute discretion and judgment in the manner and means of carrying
out the Services. Consultant shall use best efforts to perform the Services in a manner satisfactory to the Company.  Without
limiting the foregoing, Consultant shall provide Services to Company in accordance with generally accepted professional standards
as applied to similar projects performed under similar conditions prevailing in the industry at the time such Services are rendered
to the Company. Consultant shall not subcontract any portion of Consultant’s duties or obligations under this Consulting
Agreement without the prior written consent of the Company. 

 

4.           Services
for Others. Subject to the limitations in this Section 4, Consultant will be free to perform consulting services for other
persons and entities during the Term. During the Term, Consultant will not directly or indirectly, (i) engage in any business
for Consultant’s own account that competes with the Business (as defined below) of Company in any geographical area in which
Company does business, (ii) enter the employ of, or render any services to, any person engaged in any business that competes
with the Business of Company in any geographical area in which Company does business but only to the extent Consultant is being
employed or retained to provide services to the competitor in the Business, (iii) acquire a financial interest in, or otherwise
become actively involved with, any person engaged in any business that competes with the Business of Company in any geographical
area in which Company does business as an individual, partner, shareholder, officer, director, principal, agent, trustee or consultant,
or (iv) interfere with business relationships (whether formed before or after the Term with Company) between Company and strategic
partner, vendor or suppliers of, or consultants to, Company that were engaged in, or were immediate prospects for engaging in,
business with Company before my consulting relationship with Company was terminated. For purposes of this Section 4, “Business”
shall mean any business directly or indirectly related to design, development, and marketing of hepatitis B virus, antiviral and/or
microbiome therapeutics and technology and any other product or services that the Company may during the Term of this Consulting
Agreement be designing, developing and/or marketing and on which Consultant provides Services during the Term of this Consulting
Agreement. Notwithstanding the foregoing, Consultant may, directly or indirectly own, solely as an investment, securities of any
person engaged in the Business of Company which are publicly traded on a national or regional stock exchange or on the over-the-counter
market if Consultant (i) is not a controlling person of, or a member of a group which controls, such person and (ii) does
not, directly or indirectly, own 3% or more of any class of securities of such person. Company agrees and acknowledges that Consultant
may provide consulting services to third parties and this provision is not intended to unreasonably restrict Consultant’s
ability to engage in such other business activities.

 

5.            Compensation
of Consultant. As compensation for the performance of the Services, the Company will pay Consultant during the Term a monthly
consulting fee as follows: (a) during the Initial Consulting Period, in the amount of Thirty-Eight Thousand Three Hundred Thirty-Three
Dollars and 33/100 ($38,333.33) per month; and (b) for the next twelve months following the Initial Consulting Period, no further
cash compensation is owed for Services. Such cash compensation is to be paid to Consultant within thirty (30) days after the completion
of a given calendar month. Additionally, subject to approval by the Board of Directors of the Company or the Compensation Committee
of the Board of Directors, promptly following the Effective Date of this Agreement, Company shall issue Consultant an award of
restricted stock unit award for 100,000 shares of common stock, par value $0.001 per share, of the Company, pursuant to a Restricted
Stock Unit Award Agreement, substantially in the form of Exhibit 1 attached hereto (the “Equity Award Agreement”)
under the Company’s Amended and Restated 2014 Stock Incentive Plan, which restricted stock unit award shall vest over eighteen
months following the Effective Date as provided in the Equity Award Agreement and shall settle with respect to vested restricted
stock units as provided in the Equity Award Agreement.

 

    	 	2	 

     

    

 

 6.           Expenses. Consultant shall be reimbursed for any reasonable expenses incurred while performing Services on behalf of Company, including travel (i.e., airfare, meals and lodging), provided such expenses are approved by Company in advance. All air travel on behalf of Company shall be coach class unless otherwise mutually agreed by the parties. As a condition to receipt of reimbursement, Consultant shall be required to submit to Company reasonable evidence that the amount involved was expended and related to Services provided under this Consulting Agreement.

 

 7.           Independent Contractor Status of Consultant.

 

(a)       Consultant's
legal status is an independent contractor of Company. Nothing in this Consulting Agreement makes Consultant the agent, partner,
joint venturer, employee or legal representative of Company for any purpose whatsoever; nor shall Consultant hold himself out as
such. Consultant will have no authority to bind Company in any manner or for any purpose.

 

(b)       Consultant
will not be an employee of Company for any purpose, including for purposes of the Fair Labor Standards Act's minimum wage and overtime
provisions, nor any other provision of federal, state, or local law applicable to employees. Further, except for the Health Benefits
provided in the Separation Agreement, Consultant understands and agrees that he will not be entitled to any employee benefits that
may be made available by the Company to its employees, including but not limited to vacation pay, sick leave, retirement benefits,
social security, workers' compensation, health or disability benefits, and unemployment insurance benefits.

 

(c)       Consultant
acknowledges that he has not relied on any statements or representations by the Company or its attorneys with respect to the tax
treatment of any compensation due under this Consulting Agreement. Consultant understands that the Company will not be responsible
for withholding or paying any federal or state income, social security or other taxes in connection with any compensation paid
under this Consulting Agreement, and Consultant agrees that he is solely responsible for any such tax payments.

 

8.           Representations.
Consultant hereby represents and warrants to Company that (a) Consultant is free to enter into this Consulting Agreement with
Company and to perform the Services described herein; (b) the execution of this Consulting Agreement and the performance of the
Services by Consultant will not result in the breach of any express or implied, oral or written, contract or agreement, to which
Consultant is bound (including, without limitation, any non-competition agreement with a current or prior employer); and (c) the
execution of this Consulting Agreement and the performance of the Services will not at any time interfere with or violate any third
party rights (including, without limitation, the use, disclosure, misappropriation, or infringement of any confidential information,
proprietary rights or intellectual property belonging to any other person or entity).

 

9.           Indemnification.
Consultant shall indemnify and hold Company, its affiliates and their respective directors, officers, agents and employees harmless
from and against all claims, demands, losses, damages and judgments, including court costs and attorneys’ fees, arising out
of or based upon (i) Consultant’s gross negligence or willful misconduct; and (ii) any breach or alleged breach by Consultant
of any representation, warranty, certification, covenant, obligation or other agreement set forth in this Consulting Agreement.

 

    	 	3	 

     

    

 

10.         Ownership
of Intellectual Property

 

(a)       Consultant
will immediately and fully disclose in writing to the Company all intellectual property and other proprietary information, including
without limitation, all inventions, methods, processes, innovations, discoveries, developments, ideas, technologies, computer code
and programs, macros, trade secrets, know-how, formulae, designs, patterns, marks, names, improvements, industrial designs, mask
works, works of authorship, technical materials relating to the business of the Company conceived or developed by the Consultant
during the Term (collectively, “Intellectual Property”) whether or not any such Intellectual Property is patentable,
copyrightable, or otherwise protectable. Notwithstanding the foregoing, this Consulting Agreement shall not be construed to apply
to, and shall not create any assignment of any Intellectual Property of Consultant that Consultant developed entirely on his own
time without using the Company's equipment, facilities, confidential or trade secret information, except for Intellectual Property
that results from any work performed by the Consultant for the Company.

 

(b)       Consultant
does hereby, and will from time to time immediately upon the conception or development of any Intellectual Properly in the course
of Consultant's engagement with the Company assign to the Company all of his right, title and interest in and to all such Intellectual
Property (whether or not patentable, registrable, recordable or protectable by copyright and regardless of whether the Company
pursues any of the foregoing). If any Intellectual Property falls within the definition of “work made for hire,” as
such term is defined in 17 U.S.C. § 101, such Intellectual Property will be considered “work made for hire,” and
the copyright of such Intellectual Property will be owned solely and exclusively by the Company. If any Intellectual Property does
not fall within such definition of “work made for hire”, then the right, title, and interest in and to such Intellectual
Property of Consultant will be assigned to the Company pursuant to the first sentence of this Section 9(b).

 

(c)       Consultant
will execute and deliver any assignment instruments and do all other things reasonably requested by the Company (both during and
after Consultant's engagement with the Company) in order to more fully vest in the Company sole and exclusive right, title, and
interest in and to all Intellectual Property. Consultant agrees to cooperate with and provide reasonable assistance to the Company
in the preparation of applications for letters patent, copyright, and other forms of protection for Intellectual Property, including
but not limited to the execution and delivery of any instruments reasonably requested by the Company (both during and after Consultant's
engagement with the Company), in order to protect the Company’s interest in and to all Intellectual Property. If the Company
is unable for any reason to secure Consultant's signature on any lawful and necessary document required to apply for or execute
any patent, trademark, copyright or other applications with respect to any Intellectual Property (including renewals, extensions,
continuations, divisions or continuations in part thereof), Consultant hereby irrevocably designates and appoints the Company and
its then current Chief Executive Officer or General Counsel as Consultant's agent and attorney-in-fact to act for and in behalf
and instead of Consultant, to execute and file any such application and to do all other lawfully permitted acts to further the
prosecution and issuance of patents, trademarks, copyrights or other rights thereon with the same legal force and effect as if
executed by Consultant.

 

11.         Confidential
Information.

 

(a)       Consultant
acknowledges that during his engagement with Company he will have access to certain highly-sensitive, confidential, and proprietary
information belonging to the Company or third parties who may have furnished such information under obligations of confidentiality,
relating to and used in the Company's business (collectively, “Confidential Information”). Consultant acknowledges
that, unless otherwise available to the public, Confidential Information includes, but is not limited to, the following categories
of information and material, including all copies, notes, or other reproductions or replicas thereof: financial statements and
information; budgets, forecasts, and projections; business and strategic plans; marketing, sales, and distribution strategies;
research and development projects; records relating to any intellectual property developed by, owned by, controlled, licensed,
or maintained by the Company; information related to the Company's inventions, research, products, designs, methods, know-how,
formulae, techniques, systems, processes; customer lists; non-public information relating to the Company's customers, suppliers,
employees, distributors, or investors; the specific terms of the Company's agreements or arrangements, whether oral or written,
with any customer, supplier, vendor, collaborator or contractor with which the Company may be associated from time to time; and
any and all information relating to the operation of the Company's business which the Company may from time to time designate as
confidential or proprietary or that Consultant reasonably knows should be, or has been, treated by the Company as confidential
or proprietary. Confidential Information encompasses all formats in which information is preserved, whether electronic, print,
or any other form, including all originals, copies, notes, or other reproductions or replicas thereof.

 

    	 	4	 

     

    

  

(b)       Consultant
agrees that he will maintain the confidentiality of the Confidential Information at all times during and for ten years following
the Term and will not, directly or indirectly, use or disclose any Confidential Information for any purpose other than to the extent
necessary to perform the Services.

 

(c)       Consultant's
obligations under this Section 11 will not apply to any information that (i) becomes generally known to the public without any
breach of this Consulting Agreement by Consultant or of any similar agreement by any other employee or contractor of the Company,
(ii) is disclosed to Consultant by a third party under no obligation of confidentiality to the Company and/or any client of the
Company, or (iii) the Consultant is required to disclose by law, provided that Consultant first notifies Company of the existence
and terms of such requirement, gives Company a reasonable opportunity to seek a protective order or similar relief to prevent or
limit such disclosure, and only discloses that information actually required to be disclosed.

 

(d)       The
foregoing notwithstanding, pursuant to the federal Defend Trade Secrets Act of 2016, Consultant 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 in confidence
to a federal, state or local government official, either directly or indirectly, or to an attorney, and 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. Nothing in this Consulting Agreement shall limit Consultant’s right
to report possible violations of law or regulation with any federal, state or local government agency or to discuss the terms and
conditions of Consultant’s engagement by the Company to the extent that such disclosure is protected under applicable provisions
of law or regulation, including but not limited to “whistleblower” statutes or other similar provisions that protect
such disclosure.

 

12.         Return
of Property. Upon termination of Consultant's engagement with the Company for any reason, or at any time upon request of the
Company, Consultant will promptly deliver to the Company all Confidential Information in any form along with all personal property
belonging to the Company that is in Consultant's possession, custody, or control, including, without limitation, all files, memoranda,
designs, correspondence, manuals, programs, data, records, notes, notebooks, reports, papers, equipment, computer software, proposals,
or any other files, material, document or possession (whether in hard copy or any electronic format), however obtained, along with
any reproductions or copies.

 

13.         Remedies.
Consultant acknowledges and agrees that the breach or threatened breach of Sections 4, 10, 11 and/or 12 of this Consulting
Agreement may result in immediate and irreparable injury to Company, which injury may not be subject to redress by monetary damages.
Accordingly, Consultant agrees that Company is entitled to enforce this Consulting Agreement by seeking a temporary restraining
order, preliminary and permanent injunction and/or any other appropriate equitable relief. Nothing in this Section prohibits the
Company from pursuing any other remedies available to it in law or equity, including but not limited to the recovery of monetary
damages.

 

    	 	5	 

     

    

  

14.         Assignment.
Due to the personal nature of the Services to be rendered hereunder, Consultant may not assign this Consulting Agreement. 
The Company may assign this Consulting Agreement without the consent of Consultant.  Subject to the foregoing, this Consulting
Agreement will inure to the benefit of and be binding upon each of the heirs, assigns and successors of the respective parties.

 

15.         Governing
Law; Venue. This Consulting Agreement will be governed by and construed in accordance with the laws of the State of Indiana,
without regard to that body of law known as choice of law. Any litigation arising out of or related to this Consulting Agreement
will be brought exclusively in any state or federal court in Indianapolis, Indiana. Each party (i) consents to the personal jurisdiction
of said courts, (ii) waives any venue or inconvenient forum defense to any proceeding maintained in such courts, and (iii) agrees
not to bring any proceeding arising out of or relating to this Consulting Agreement in any other court.

 

16.         Compliance
with Laws

 

(a)       Absence
of Debarrment/Exclusion. Consultant has not been debarred, and to the best of Consultant’s knowledge, is not under consideration
to be debarred, by the U.S. Food and Drug Administration or comparable foreign equivalent from working in or providing services
to any pharmaceutical or biotechnology company under the Generic Drug Enforcement Act of 1992 or comparable foreign law or regulation.
Consultant will immediately notify Company if it becomes aware of any such action being taken or threatened to be taken against
Consultant.

 

(b)       Anti-Bribery
and Corruption Covenant. Consultant shall not violate any applicable anti-bribery and anti-corruption laws or regulations,
including the US Foreign Corrupt Practices Act, the UK Bribery Act 2010, the China anti-bribery and corruptions laws or other local
laws applicable to your Services (collectively, the “Anti-Bribery Laws”). Consultant shall not make, directly
or indirectly, in connection with this Consulting Agreement or any Services or in connection with any other business transaction
related to Company, a payment or gift of, or an offer, promise or authorization to give money or anything of value to any (a) (i)
director, officer, employee, agent or representative (including anyone elected, nominated, or appointed to be a director, officer,
employee, agent or representative) of any Government Entity (as defined below), or anyone otherwise acting in an official capacity
on behalf of a Government Entity; (ii) political party, political party official or political party employee; (iii) candidate for
public or political office; (iv) any royal or ruling family member; or (v) agent or representative of any of those persons listed
in subcategories (i) through (iv) (collectively, “Government Official”); (b) person or entity; or (c) other
person or entity while knowing or having reason to believe that some portion or all of the payment or thing of value will be offered,
given or promised, directly or indirectly, to a Government Official or another person or entity; for the purpose of: influencing
any act or decision of such Government Official or such person or entity in his/her or its official capacity, including a decision
to do or omit to do any act in violation of his/her or its lawful duties or proper performance of functions; or inducing such Government
Official or such person or entity to use his/her or its influence or position with any Government Entity or other person or entity
to influence any act or decision; in order to obtain or retain business for, direct business to, or secure an improper advantage
for Company. “Government Entity” means (i) any national, state, regional or local government (including, in
each case, any agency, department or subdivision of such government), and any government agency or department; (ii) any political
party; (iii) any entity or business that is owned or controlled by any of those bodies listed in subcategory (i) or (ii); or (iv)
any international organization, such as the United Nations or the World Bank. Consultant shall when requested by Company from time
to time, provide a certification in form and substance satisfactory to Company, signed by Consultant, certifying that Consultant
is in compliance with this Section 16(b). A violation of this Section 16(b) shall constitute a material breach of this Consulting
Agreement by Consultant.

 

(c)       Insider
Trading. Consultant acknowledges that the Company is an issuer with securities registered pursuant to U.S. Securities Act of
1933, as amended and that the disclosure of non-public information regarding the Company or any of its subsidiaries by Consultant
or trading in the securities of the Company while in the possession of material nonpublic information is a material breach of the
terms of this Consulting Agreement and may subject the Company and/or Consultant to liability.

 

    	 	6	 

     

    

  

17.         Miscellaneous.

 

(a)       The
provisions of Sections 2, 4 and 6-17 will survive the termination of this Consulting Agreement for any reason.

 

(b)
       Should any provision of this Consulting Agreement or the application thereof, to
any extent, be held invalid or unenforceable, the remainder of this Consulting Agreement and the application thereof other than
those provisions held invalid or unenforceable, shall not be affected thereby and shall continue valid and enforceable to the fullest
extent permitted by law or equity.

 

(c)
       No waiver by either party of any breach of this Consulting Agreement shall be construed
as a waiver of any succeeding breach of this Consulting Agreement.

 

(d)
       This Consulting Agreement may be executed in one or more counterparts, each of which
shall be deemed an original and all of which together shall constitute one and the same agreement. Any facsimile, PDF reproduction
of original signatures or other electronic transmission of a signed counterpart shall be deemed to be an original counterpart and
any signature appearing thereon shall be deemed to be an original signature.

 

(e)
       This Consulting Agreement, together with the Separation Agreement and the documents
referenced therein, represents the entire and integrated agreement between the parties and supersedes all prior negotiations, representations
or agreements, either written or oral regarding the subject matter thereof.

 

(f)
       This Consulting Agreement may be amended only by a written instrument signed by both
Company and Consultant.

 

[Signature Page Follows]

 

    	 	7	 

     

    

  

IN WI'INESS WHEREOF,
the parties hereto have executed this Consulting Agreement to be effective as of the Effective Date.

 

	CONSULTANT:	 	COMPANY:
	 	 	 	 
	 	 	ASSEMBLY BIOSCIENCES, INC.
	 	 	 	 
	/s/ David J. Barrett	 	By:	/s/ Derek A. Small
	David J. Barrett	 	 	Derek A. Small
	 	 	 	Chief Executive Officer and President

 

[Signature Page to Consulting
Agreement]

 

    	 	8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00286-of-00352.parquet"}]]