Document:

Exhibit 10.5

 

8i Enterprises Acquisition Corp

6 Eu Tong Sen Street

#08-13 The Central

Singapore 059817

 

Ladies and Gentlemen:

 

8i Enterprises Acquisition Corp (the “Company”),
a blank check company formed for the purpose of acquiring one or more businesses or entities (a “Business Combination”),
intends to register its securities under the Securities Act of 1933, as amended (“Securities Act”), in connection with
its initial public offering (“IPO”), pursuant to a registration statement on Form S-1 (“Registration Statement”).

 

The undersigned hereby commits that it will
purchase 221,250 units of the Company (“Private Units”), each Private Unit consisting of one ordinary share of the
Company, no par (the “Ordinary Shares”), one warrant (the “Warrants”) entitling its holder to purchase
one-half (1/2) of one Ordinary Share, and one right to receive one-tenth (1/10) of an Ordinary Share (each a “Right”),
at $10.00 per Private Unit, for a purchase price of $2,212,500 (the “Private Unit Purchase Price”).

 

The undersigned hereby agrees that it will
purchase an additional amount of units of the Company (“Over-Allotment Units”), up to a maximum of 18,750 Over-Allotment
Units, or a maximum purchase price of $187,500 (“Over-Allotment Unit Purchase Price”, together with the Private Unit
Purchase Price, the “Purchase Price”), in the event Chardan Capital Markets, LLC (“Chardan”) exercises
its over-allotment option, such that the amount held in the trust account (as described in the Registration Statement) does not
fall below $10.00 per share for each Ordinary Share sold in the IPO.

 

At least twenty-four (24) hours prior to the
beginning of the road show relating to the IPO, the undersigned will cause the Private Unit Purchase Price to be delivered to Loeb
& Loeb LLP (“Loeb”), counsel for the Company, by wire transfer as set forth in the instructions attached as Exhibit
A to hold in a non-interest bearing account until the Company consummates the IPO.

 

The consummation of the purchase and issuance
of the Private Units shall occur simultaneously with the consummation of the IPO and the consummation of the purchase and issuance
of the Over-Allotment Units shall occur simultaneously with the closing of any exercise of the over-allotment option related to
the IPO. Simultaneously with or prior to the consummation of the IPO, Loeb shall deposit the Private Unit Purchase Price, without
interest or deduction, into the trust fund (“Trust Fund”) established by the Company for the benefit of the Company’s
public shareholders as described in the Registration Statement.

 

Each of the Company, and the undersigned acknowledges
and agrees that Loeb is serving hereunder solely as a convenience to the parties to facilitate the purchase of the Private Units
and Loeb’s sole obligation under this letter agreement is to act with respect to holding and disbursing the Purchase Price
for the Private Units as described above. Loeb shall not be liable to the Company, Chardan or the undersigned or any other person
or entity in respect of any act or failure to act hereunder or otherwise in connection with performing its services hereunder unless
Loeb has acted in a manner constituting gross negligence or willful misconduct. The Company and the undersigned shall indemnify
Loeb against any claim made against it (including reasonable attorney’s fees) by reason of it acting or failing to act in
connection with this letter agreement except as a result of its gross negligence or willful misconduct. Loeb may rely and shall
be protected in acting or refraining from acting upon any written notice, instruction or request furnished to it hereunder and
believed by it to be genuine and to have been signed or presented by the proper party or parties.

 

     

     

    

 

The Private Units and Over-Allotment Units
will be identical to the units to be sold by the Company in the IPO. Additionally, the undersigned agrees:

 

		●	to vote the Ordinary Shares included in the Private Units and Over-Allotment Units in favor of any proposed Business Combination;

 

		●	not to propose, or vote in favor of, an amendment to the Company’s Amended and Restated Memorandum and Articles of Association
that would affect the substance or timing of the Company’s obligation to redeem 100% of the Company’s Ordinary Shares
sold in the IPO if the Company does not complete an initial Business Combination within 12 months from the closing of the IPO (or
up to 18 months, as applicable), unless the Company provides the holders of Ordinary Shares sold in the IPO with the opportunity
to redeem their Ordinary Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate
amount of the Trust Fund, including interest earned on Trust Fund and not previously released to the Company to pay the Company’s
franchise and income taxes, divided by the number of then outstanding Ordinary Shares sold in the IPO;

 

		●	not to convert any Ordinary Shares included in the Private Units and Over-Allotment Units into the right to receive cash from
the Trust Fund in connection with a shareholder vote to approve either a Business Combination or an amendment to the provisions
of the Company’s Amended and Restated Memorandum and Articles of Association, and not to tender the Private Units and Over-Allotment
Units in connection with a tender offer conducted prior to the closing of a Business Combination;

 

		●	the undersigned will not participate in any liquidation distribution with respect to the Private Units and Over-Allotment Units
(but will participate in liquidation distributions with respect to any units or Ordinary Shares purchased by the undersigned in
the IPO or in the open market) if the Company fails to consummate a Business Combination;

 

		●	that the Private Units, Over-Allotment Units and underlying securities will not be transferable until after the consummation
of a Business Combination except (i) to the Company’s pre-IPO shareholders, or to the Company’s officers, directors,
advisors and employees, (ii) transfers to the undersigned’s affiliates or its members upon its liquidation, (iii) to relatives
and trusts for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified
domestic relations order, (vi) by private sales made in connection with the consummation of a Business Combination at prices no
greater than the price at which the Private Units were originally purchased or (vii) to the Company for cancellation in connection
with the consummation of a Business Combination, in each case (except for clause vii) where the transferee agrees to the terms
of the transfer restrictions; and

 

		●	the Private Units and Over-Allotment Units will include any additional terms or restrictions as is customary in other similarly
structured blank check company offerings or as may be reasonably required by the underwriters in the IPO in order to consummate
the IPO, each of which will be set forth in the Registration Statement.

 

     

     

    

 

The undersigned acknowledges and agrees that
the purchaser of the Private Units and Over-Allotment Units will execute agreements in form and substance typical for transactions
of this nature necessary to effectuate the foregoing agreements and obligations prior to the consummation of the IPO as are reasonably
acceptable to the undersigned, including but not limited to an insider letter.

 

The undersigned hereby represents and warrants
that:

 

		(a)	it has been advised that the Private Units and Over-Allotment Units have not been registered under the Securities Act;

 

		(b)	it will be acquiring the Private Units and Over-Allotment Units for its account for investment purposes only;

 

		(c)	it has no present intention of selling or otherwise disposing of the Private Units and Over-Allotment Units in violation of
the securities laws of the United States;

 

		(d)	it is an “accredited investor” as defined by Rule 501 of Regulation D promulgated under the Securities Act of 1933,
as amended;

 

		(e)	it has had both the opportunity to ask questions and receive answers from the officers and directors of the Company and all
persons acting on its behalf concerning the terms and conditions of the offer made hereunder;

 

		(f)	it is familiar with the proposed business, management, financial condition and affairs of the Company;

 

		(g)	it has full power, authority and legal capacity to execute and deliver this letter and any documents contemplated herein or
needed to consummate the transactions contemplated in this letter; and

 

     

     

    

 

 This letter agreement constitutes the entire agreement between
the undersigned and the Company with respect to the purchase of the Private Units and Over-Allotment Units, and supersedes all
prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the
same. 

 

	 	Very truly yours,
	 	 	 
	 	8i ENTERPRISES PTD LTD
	 	 	 
	 	By:	 
	 	Name: James Tan
	 	Title:   Director

 

	Accepted and Agreed:	 
	 	 	 
	8i ENTERPRISES ACQUISITION CORP	 
	 	 	 
	By:	 	 
	 	Name: James Tan	 
	 	Title:   Chief Executive Officer	 

 

     

     

    

 

Exhibit A

 

Wire Instructions

 

Bank Name: Citigroup Private Bank

Bank Address: 153 East 53rd Street

New York, NY 10022

Account Name: Loeb & Loeb LLP – Trust Account

Account Number: 24576266

Routing/ABA Number (Domestic Wires): 021000089

Swift Code (Foreign Wire): CITIUS33

Note: 8i 230280/10001EX-10.1

 Exhibit 10.1 

TRANSITION AGREEMENT 

This Transition Agreement (the “Agreement”) is made between Deciphera Pharmaceuticals, LLC, a Delaware limited liability company
(the “Company”), Deciphera Pharmaceuticals, Inc., a Delaware corporation (“Parent”), and Michael D. Taylor, Ph.D. (the “Executive”). The Company, Parent and Executive are collectively referred to as the
“Parties.” 
 WHEREAS, the Company and the Executive entered into an Employment Agreement dated September 25, 2017
(the “Employment Agreement”) which replaced and superseded a prior employment agreement between the Company and the Executive, dated March 1, 2014 (the “Prior Employment Agreement”) and which provides for severance pay and
benefits (the “Severance Benefits”) under certain circumstances;  
 WHEREAS, the Board of Directors of Parent (the
“Board”) appreciates the Executive’s past and anticipated contributions to the Company; 
 WHEREAS, effective as of
the date the New CEO (as defined below) commences employment with the Company, unless another date is agreed to by Parties (such actual date, the “CEO Transition Date”), the Executive shall transition from the position of President and
Chief Executive Officer of the Company to the position of Senior Advisor; 
 WHEREAS, if the Executive enters into and does not
revoke this Agreement, the Executive’s employment with the Company will end pursuant to Section 3(d) of the Employment Agreement effective on the date that is six months from the CEO Transition Date, unless employment ends on an earlier
date consistent with the terms of this Agreement (such actual date, the “Date of Termination”); 
 WHEREAS, this Agreement
is the Separation Agreement and Release referred to in the Employment Agreement; 
 WHEREAS, in exchange for, among other things, the
Executive entering into and not revoking this Agreement and fully complying with the Continuing Obligations and the Conditions (as each is defined below), the Company shall provide the Executive with the 2019 Bonus, the Severance Benefits as
described in Section 4 of this Agreement and the equity treatment described in Section 5 of this Agreement; and 
 WHEREAS,
the payments and benefits set forth in this Agreement are the exclusive payments and benefits to the Executive in connection with the ending of Executive’s employment. By entering into this Agreement, Executive acknowledges and agrees that he
is not entitled to any other severance pay, benefits or equity rights including without limitation pursuant to any severance plan, program or arrangement. 

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Parties hereby agree as follows: 
 1.    Transition from Employment 

(a)    Transition Period. If the Executive enters into, does not revoke, and complies with this Agreement, the
Executive’s employment will continue, along with the compensation and benefits specified below, until the date that is six months from the CEO Transition Date, unless the Company sooner terminates the Executive’s employment for Cause (as
defined in Section 3(c) of the Employment Agreement) or the Executive sooner resigns. The time period between the date of this Agreement and the Date of Termination shall be referred to herein as the “Transition Period.” 

(b)    Transition Services. 

(i)    Effective on the CEO Transition Date the Executive will transition to the position of Senior Advisor and shall not
be authorized to perform any of his previous duties unless so requested in writing by the new Chief Executive Officer of the Company (the “New CEO”). At all times during the Transition Period, the Executive will report to the New CEO or
his designee and shall have such duties as may be prescribed by the New CEO or his designee. As Senior Advisor, the Executive will provide transitional services to the Company to the extent directed by the New CEO and/or the Board. The Executive
may, with the Chairman of the Board’s prior written consent, engage in noncompetitive consulting or non-employment business activities during the Transition Period. For the avoidance of doubt, the Executive’s service during the Transition
Period on other boards of directors for companies that do not compete with the Company or Parent as to mechanism of action or indication (as determined by the Board in its reasonable discretion) shall be deemed noncompetitive and the Chairman of the
Board shall not withhold his consent to such service. If the Executive accepts employment with another person or entity, the Executive must immediately resign from employment with the Company as of the date that employment commences, the Transition
Period will end, and if such resignation has not been consented to in writing by the Board, he will not be entitled to the 2019 Bonus (as defined below) or the pay and benefits set forth in Sections 4 and 5 of this Agreement. The Executive agrees to
work cooperatively with the Board, the New CEO and other members of the Company’s management team during the Transition Period. For the avoidance of doubt, if the Company terminates the Executive’s employment for Cause or the Executive
resigns without the Board’s consent prior to the date that is six months from the CEO Transition Date, the Executive will be entitled to the Accrued Benefit set forth in Section 3, shall immediately cease vesting in his outstanding equity
awards, and shall have no further rights to any compensation or benefits from the Company or any of its affiliates. 

(ii)    The Executive hereby waives the application of the definition of “Good Reason” in the Employment
Agreement to all aspects of the Executive’s prior and continued employment, including but not limited to any changes to the Executive’s responsibilities, authority or duties, and the Executive agrees that such “Good Reason”
provision is hereby null and void. For the avoidance of doubt, the Executive shall have no “Good Reason” departure rights under the Employment Agreement or otherwise. 

(c)    Compensation, Benefits, and Vesting. During the Transition Period, the Executive shall (i) continue to
be paid his current Base Salary (as defined in the Employment Agreement), (ii) remain eligible to participate in the Company’s group employee benefit plans as 

  
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a regular full-time employee, and (iii) continue to vest in his Preserved Equity (as defined below), subject to the terms of Section 5 of this Agreement. For the avoidance of
doubt, the equity award granted to the Executive on January 30, 2019 (the “January 30 Award”) shall cease vesting on the CEO Transition Date in accordance with the applicable equity award agreement and is expressly excluded
from the definition of Preserved Equity. The Executive shall be eligible, subject to satisfying the Conditions (as defined in Section 4), to receive a pro-rata amount of his target incentive compensation for 2019 based on 100% of his
target incentive compensation for the period between January 1, 2019 and the CEO Transition Date (the “2019 Bonus”). The amount of the 2019 Bonus shall be added to the Severance Amount (as defined in Section 4) and
paid in the same manner as the Severance Amount. The Executive agrees that he will not earn or be entitled to accrue paid time off during the Transition Period. 

2.    Resignations; Board Service. Effective as of the CEO Transition Date, the Executive hereby resigns as an
officer of the Company, as well as from any other officer positions he holds with any of the Company’s subsidiaries or entities affiliated with the Company. The Executive agrees to execute any documents reasonably requested by the Company or
any controlled entities in order to effectuate such resignations. Unless the Executive sooner resigns as a member of the Board and subject to Board dismissal procedures, the Executive shall continue to serve as a member of the Board through the end
of his current term expiring at the annual meeting of shareholders in 2021, at which time he will cease to serve as a member of the Board. The last date of the Executive’s Board service is referred to herein as the “Board Termination
Date.” 
 Provided that the Executive continues to serve as a member of the Board following the one year anniversary of the CEO Transition Date, he
will receive, subject to his continued Board service, (i) a pro-rated quarterly retainer of $12,500 for any Board service following the one year anniversary of the CEO Transition Date, and (ii) the
normal annual director stock option grant(s) issued at the time of the annual meeting beginning in 2020. For the avoidance of doubt, (i) no compensation for Board service shall be paid to the Executive prior to the Date of Termination,
(ii) the Executive’s compensation following the Date of Termination shall be governed by the terms of this Agreement, and (iii) he will not be eligible to participate in the Non-Employee
Director Compensation Policy (except with respect to the annual option grant at the 2020 annual meeting). 
 3.    Accrued
Benefit. On the Date of Termination (or such later date not to exceed 30 days after the Date of Termination with respect to (ii) below), the Executive shall be paid in full for (i) any Base Salary (as defined
in the Employment Agreement) earned through the Date of Termination, (ii) unpaid expense reimbursements (subject to, and in accordance with, Section 2(d) of the Employment Agreement) (iii) any accrued but unused
hours of unused vacation that accrued through the Date of Termination, provided the Executive shall not accrue vacation or other paid time off during the Transition Period.     

4.    Severance Benefits. In exchange for, among other things, the Executive (i) signing, not revoking
and complying with the terms of this Agreement, (ii) not being terminated by the Company for Cause or resigning his employment prior to the date the Board determines will be the Date of Termination without the written consent of the
Board, (iii) providing transition services to the reasonable satisfaction of the New CEO and the Board during the Transition Period, and (iv) after the Date of Termination, executing and not revoking the Certificate

  
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Updating Release of Claims in the form attached as Exhibit A (the “Certificate”) within the time periods set forth in the Certificate (collectively, the “Conditions”):

 (a)    the Company shall pay the Executive an amount equal to 12 months Base Salary (the “Severance
Amount”); and 
 (b)    if the Executive was participating in the Company’s group health plan immediately
prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Executive a monthly cash payment until the earlier of (i) 12 months following the Date of Termination, (ii) the end of the Executive’s
COBRA health continuation period, or (iii) the date the Executive becomes eligible for health insurance coverage in connection with new employment or self-employment (and the Executive’s eligibility for any such benefits shall be
promptly reported by the Executive to the Company), in an amount 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. 

The amounts payable under this Section 4 shall be paid out in substantially equal installments in accordance with the Company’s payroll practice
over 12 months commencing on the Company’s next regular payroll date after the Effective Date of the Certificate; provided 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). 
 5.    Equity. 

(a)    On the CEO Transition Date, and notwithstanding anything to the contrary in the applicable Equity Documents (as
defined below) or any continued service relationship by the Executive, the Executive will forfeit all of his outstanding unvested equity awards (including without limitation the entire January 30 Award, to the extent not vested as of such date),
except for those portions of his time-based stock-based equity awards that would have vested during the one year period immediately following the CEO Transition Date (the “Preserved Equity”). The Executive’s option agreement(s) or
stock-based award agreement(s), together with Parent’s equity plan(s), are collectively referred to herein as the “Equity Documents.” The Preserved Equity will continue to vest, subject to the terms of the applicable Equity Documents
and the Executive’s continued service as an employee or Board member, through the one year anniversary of the CEO Transition Date, at which time all vesting shall cease. If both the Date of Termination and the Board Termination Date (such later
date, the “Last Vesting Day”) occur prior to the one year anniversary of the CEO Transition Date and the Executive satisfies the Conditions, then notwithstanding anything to the contrary in the Equity Documents, the then unvested number of
shares underlying the Preserved Equity held by the Executive that would have vested between the Last Vesting Day and the one year anniversary of the CEO Transition Date shall vest and become exercisable as of the Last Vesting Day; provided that,
although vesting will cease as of the Last Vesting Day and the post-service exercise period with respect to any vested shares will commence on the Last Vesting Day, the termination of the unvested portion of the Executive’s Preserved Equity
that would otherwise occur on the Last Vesting Day will be delayed to the extent necessary to effectuate the terms of this Agreement. A full and complete summary of the Executive’s outstanding equity grants is attached hereto as Exhibit
B. By signing this Agreement, the Executive acknowledges and agrees that he has no other equity interests in the Company, Parent or any of their respective affiliates other than those listed on Exhibit B. 

  
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 (b)    In addition, subject to the Executive satisfying the Conditions,
Parent shall extend the exercise period with respect to the Executive’s vested stock options until the earlier of (i) the original 10-year expiration date for such vested stock options as provided in the applicable Equity Documents, or
(ii) 180 days after the later to occur of the Date of Termination or Board Termination Date (the “Extended Exercise Period”) provided that any stock option subject to this Extended Exercise Period shall cease to be treated for tax purposes
as an incentive stock option. 
 (c)    If (i) the Executive has satisfied the Conditions (to the extent
applicable), (ii) within the one year period immediately following the CEO Transition Date, a Sale Event occurs (as “Sale Event” is defined in the Deciphera Pharmaceuticals, Inc. 2017 Stock Option and Incentive Plan), and
(iii) the Executive is serving on the Board at the time of such Sale Event, then, notwithstanding anything to the contrary in the applicable Equity Documents, all of the Executive’s outstanding Preserved Equity that has not yet
vested shall immediately vest and become exercisable. For the avoidance of doubt, if a Sale Event occurs following the one year anniversary of the CEO Transition Date and the Executive continues to serve on the Board at the time of such Sale Event,
any stock option grants that the Executive receives as part of his service on the Board (as set forth in Section 2) shall be treated in accordance with the acceleration of options provisions provided for all Board members. 

Except as set forth herein, the terms of the Equity Documents shall continue in full force in all respects. 

6.    General Release. The Executive irrevocably and unconditionally releases and forever discharges the Company, Parent,
and all of their affiliated and related entities (the “Affiliates”), the Company’s, Parent’s, and Affiliates’ respective predecessors, successors and assigns, employee benefit plans and the fiduciaries of such plans, and the
current and former officers, directors, stockholders, employees, attorneys, 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 Executive signs this Agreement, he has, ever had, now claims to have or ever claimed to have had against any or all of
the Releasees. This release includes, without limitation, the complete waiver and release of all Claims of or arising in connection with or for: the Employment Agreement and the Prior Employment Agreement or any other agreement between the Executive
and any of the Releasees, including Claims for breach of express or implied contract; wrongful termination of employment whether in contract or tort; intentional, reckless, or negligent infliction of emotional distress; breach of any express or
implied covenant of employment, including the covenant of good faith and fair dealing; interference with contractual or advantageous relations, whether prospective or existing; deceit or misrepresentation; discrimination or retaliation under state,
federal, or municipal law, including, without limitation, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., as amended, the Americans with Disabilities Act, 42 U.S.C. § 12101
et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., and Chapter 151B of the Massachusetts General Laws; any claim under any state or local statute, rule, ordinance, or

  
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regulation, all contract and quasi-contract claims, claims for promissory estoppel or detrimental reliance, claims for wages, bonuses, incentive compensation, and severance allowances or
entitlements, all claims for fraud, slander, libel, defamation, disparagement, intentional infliction of emotional distress, personal injury, negligence, compensatory or punitive damages, or any other claim for damages or injury of any kind
whatsoever, and all claims for monetary recovery, including, without limitation, attorneys’ fees, experts’ fees, medical fees or expenses, costs, and disbursements; as well as any Claims for alleged wrongful discharge, discrimination or
harassment, negligent or intentional infliction of emotional distress, breach of an express or implied contract, promissory estoppel, whistleblower retaliation, other personal injury, fraud or misrepresentation, defamation, invasion of privacy,
negligence, retaliation, violation of public policy, or any other unlawful behavior; defamation or damage to reputation; reinstatement; punitive or emotional distress damages; wages, severance pay, vacation pay, back or front pay or other forms of
compensation, whether under the Massachusetts Wage Act, M.G.L. c. 149, §§148-150C, or otherwise; and attorney’s fees and costs. The Executive understands that this general release of Claims includes, without limitation, any and all
Claims related to the Executive’s employment by the Company (including without limitation, any Claims against the Company or Parent in respect of any stock-based awards of any kind) and the termination of his employment, and all Claims in his
capacity as a Parent stockholder arising up to and through the date that the Executive enters into this Agreement. Executive understands that this general release does not extend to any rights or Claims that may arise out of acts or events that
occur after the date on which the Executive signs this Agreement. Executive represents that he has not assigned to any third party and has not filed with any agency or court any Claim released by this Agreement. This release does not affect the
Executive’s rights or obligations under this Agreement, nor shall it affect the Executive’s rights, if any, to unemployment compensation benefits or to workers’ compensation. 

7.    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 on account of his separation from employment 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 (A) six months
and one day after the Executive’s separation from service or (B) 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)    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 

  
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this 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 any 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 any Party.

 8.    Return of Property. On or before the Date of Termination (and upon earlier request by the Company), the Executive
shall be required to return all Company property, including, without limitation, computer equipment, software, keys and access cards, credit cards, files and any documents (including computerized data and any copies made of any computerized data or
software) containing information concerning the Company, its business or its business relationships (“Company Property”). After returning all Company Property, the Executive commits to deleting and finally purging any duplicates of files
or documents that may contain Company or customer information from any non-Company computer or other device that remains the Executive’s property after the Date of Termination. Notwithstanding the foregoing, the Executive shall be permitted to
retain any documents that the Board deems necessary for him to serve as a member of the Board through the Board Termination Date, provided that the Executive agrees to promptly return such documents on or prior to the Board Termination Date or upon
such earlier request by the Board. For purposes of this Section 8, “Company” shall include Parent and all Affiliates. 

9.    Communications Regarding Transition. The Executive agrees that he will not (without the prior written approval of the
Chairman or the Board) communicate about his transition or departure with anyone until after the Chairman of the Board has made a formal written announcement about the Executive’s transition and departure through an email communication (the
“Company Announcement”); provided that the Executive may communicate with his tax advisors, attorneys, and immediate family members about his transition and departure before the Company Announcement, provided further that the Executive
first advises such persons not to reveal information about the Executive’s transition and departure and each such person agrees. The Executive has agreed to communicate positively about his employment at the Company as well as his transition
and departure both internally and externally and work collaboratively with the Company’s New CEO, the Chief Financial Officer and other management members on communications planning and transition matters. If the Executive publishes a written
statement about his employment or his transition or departure, including through email or a social media posting, the Executive shall first have the content approved in writing by the Chairman of the Board. These obligations shall not in any way
affect any person’s obligations to provide truthful information as required by law. 
 10.    Non-Disparagement.
Subject to Section 14 of this Agreement, the Executive agrees not to take any action or make any statements, written or oral, that are disparaging about or adverse to the business interests of the Company or any of its affiliates or its or
their products, services or current or former officers, directors, shareholders, employees, managers or agents. These non-disparagement obligations shall not apply to truthful testimony in any legal proceeding. 

11.    Continuing Obligations; Termination of Payments; Injunctive Relief. The Executive acknowledges that his right to the
2019 Bonus and the pay and benefits set forth in Sections 4 and 5 of this Agreement are conditioned on his full compliance with the provisions in Sections 7, 

  
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8, and 9 of the Employment Agreement, which are hereby incorporated by reference as material terms of this Agreement. Collectively, Sections 7, 8, and 9 of the Employment Agreement, and Sections
8, 9 and 10 of this Agreement shall be referred to as the “Continuing Obligations.” In the event that the Executive fails to comply with any of the 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 the Severance Benefits in Section 4 and to seek repayment of any previously paid Severance Benefits. Such termination in the event of a breach by the Executive shall not affect the
general release in Section 6 or the Executive’s obligation to comply with the Continuing Obligations and shall be in addition to, and not in lieu of, the Company’s rights to other legal and equitable remedies that the Company
may have. Further, the Executive agrees that it would be difficult to measure any harm caused to the Company that might result from any breach by the Executive of any 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 he breaches, or proposes to breach, any portion of the Continuing Obligations, 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, and to recover the Company’s attorney’s fees associated
with any such breach by the Executive. 
 12.    Advice of Counsel. This Agreement is a legally binding document and the
Executive’s signature will commit the Executive to its terms. The Executive acknowledges that he has been advised to discuss all aspects of this Agreement with his attorney, that he has carefully read and fully understands all of the provisions
of this Agreement and that the Executive is voluntarily entering into this Agreement. 
 13.    Attorney’s Fees. The
Company will reimburse the Executive up to $5,000 for his reasonable attorney’s fees incurred in connection with this Agreement, subject to the Executive’s timely submission of appropriate documentation. 

14.    Protected Disclosures. Nothing in this Agreement or otherwise limits the Executive’s: (i) obligation
to testify truthfully in any legal proceeding; (ii) right to file a charge, claim or complaint with any federal agency (such as the Equal Employment Opportunity Commission) or any state or local governmental agency or commission
(together, a “Government Agency”); or (iii) ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including his ability to
provide documents or other information, without notice to the Company. 
 15.    Effective Date. To accept this Agreement,
the Executive must return a signed, unmodified original or PDF copy of this Agreement so that it is received by the undersigned on or before March 4, 2019. This Agreement shall become effective upon Execution by both parties (the
“Effective Date”). For the avoidance of doubt, if the Executive does not enter into this Agreement, then the Executive’s employment will end on a date to be determined by the Company, and the Company shall provide the Executive with
documentation at that time that will replace this Agreement. 
 16.    Enforceability. The Executive acknowledges that, if
any portion or provision of this Agreement or the Continuing Obligations shall to any extent be declared illegal or unenforceable 

  
 8 

 
by a court of competent jurisdiction, then the remainder of the Agreement and Continuing Obligations, other than those portions or provisions as to which it is so declared illegal or
unenforceable, shall not be affected thereby, and each portion and provision shall be valid and enforceable to the fullest extent permitted by law. 

17.    Entire Agreement. This Agreement, along with the Continuing Obligations, constitutes the entire agreement between the
Executive and the Company and/or Parent concerning the Executive’s relationship with the Company and/or Parent, and supersedes and replaces any and all prior agreements and understandings between the Executive and the Company and/or Parent
concerning the Executive’s relationship with the Company and/or Parent including, without limitation, the Prior Employment Agreement and the unpreserved provisions of the Employment Agreement, provided that the Equity Documents (subject to
Section 5 of this Agreement) shall continue to be in full force and effect. In addition, and notwithstanding the foregoing, the definition of “Cause” in the Employment Agreement and Sections 10, 11, 13, 15, 17, 18, and 19 of
the Employment Agreement shall remain in full force and effect to the extent consistent with the terms of this Agreement. 

18.    Waiver; Amendment. No waiver of any provision of this Agreement, including the Continuing Obligations, 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 Continuing Obligations, or the waiver by any Party of any breach of this
Agreement or the Continuing Obligations shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. This Agreement may not be modified or amended except in a writing signed by both the
Executive and a duly authorized officer of the Company. 
 19.    Taxes. The Company shall undertake to make deductions,
withholdings and tax reports with respect to payments and benefits under this Agreement and in connection with other compensation matters to the extent that it reasonably and in good faith determines that it is required to make such deductions,
withholdings and tax reports. Payments under this Agreement shall be in amounts net of any such deductions or withholdings. 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 made to the Executive in connection with the Executive’s employment with the Company. 

20.    Acknowledgment of Wage and Other Payments. The Executive acknowledges and represents that, as of the date of his
execution of this Agreement and except as expressly provided in this Agreement, the Executive has been paid all wages, bonuses, compensation, benefits and other amounts that any of the Releasees has ever owed to the Executive. The Executive is not
entitled to any bonus, incentive compensation or other compensation except as specifically set forth in this Agreement. 

21.    Jurisdiction. The Executive and the Company hereby agree that the Superior Court of the Commonwealth of Massachusetts
and the United States District Court for the District of Massachusetts 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, the Executive submits to the jurisdiction of such courts and acknowledges that venue in such courts is proper. 

  
 9 

 22.    Governing Law; Interpretation. This Agreement shall be
interpreted and enforced under the laws of the Commonwealth of Massachusetts 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 any Party or the “drafter” of all or any portion of this Agreement. 

23.    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 all of which together shall constitute one and the same document. Facsimile and pdf signatures shall be deemed to be of equal force and effect as originals. 

[Remainder of page intentionally left blank.] 

  
 10 

 IN WITNESS WHEREOF, the Parties, intending to be legally bound, have executed this
Agreement on the date(s) indicated below. 
  

			
	COMPANY:
	
	DECIPHERA PHARMACEUTICALS, LLC
	a Delaware limited liability company
		
	By:	 	 /s/ James Bristol

	Name:	 	James Bristol
	Title:	 	Authorized Signatory
		
	Date:	 	March 4, 2019
	
	PARENT:
	
	DECIPHERA PHARMACEUTICALS, INC.
		
	By:	 	 /s/ James Bristol

	Name:	 	James Bristol
	Title:	 	Authorized Signatory
		
	Date:	 	March 4, 2019
	
	EXECUTIVE:
		
	By:	 	 /s/ Michael D Taylor , Ph.D.

	Name:	 	Michael D. Taylor, Ph.D.
		
	Date:	 	March 4, 2019

  
 11 

 EXHIBIT A 

CERTIFICATE UPDATING RELEASE OF CLAIMS 

I, Michael D. Taylor, Ph.D., hereby acknowledge and certify that I entered into a Transition Agreement with Deciphera Pharmaceuticals, LLC (the
“Company”) and Deciphera Pharmaceuticals, Inc. (“Parent”) dated March 4, 2019 (the “Agreement”). Capitalized terms used herein and not otherwise defined have the meanings ascribed to such terms in the Agreement.
Pursuant to the Agreement, and provided that I have satisfied the Conditions, I am required to execute this certificate, which updates the release of claims set forth in Section 6 of the Agreement (this “Certificate”), in order to be
eligible for the 2019 Bonus and the pay and benefits set forth in Sections 4 and 5 of the Agreement. I understand that I may not sign this Certificate until on or after the Date of Termination and that I must return it to the Company within twenty-one (21) days after the Date of Termination. 
 I, therefore, agree as
follows: 
  

	 	1.	 A copy of this Certificate was attached to the Agreement as Exhibit A. 

 

	 	2.	 In consideration of the benefits contained in the Agreement, including but not limited to the 2019 Bonus and
the pay and benefits set forth in Sections 4 and 5 of the Agreement, for which I become eligible only if I sign this Certificate, I hereby extend the release of claims set forth in Section 6 of the Agreement to any and all claims that arose
after the date I signed the Agreement through the date I signed this Certificate (the “Effective Date”), subject to all other exclusions and terms set forth in the Agreement. 

 

	 	3.	 I have carefully read and fully understand all of the provisions of this Certificate, I knowingly and
voluntarily agree to all of the terms set forth in this Certificate, and I acknowledge that in entering into this Certificate, I am not relying on any representation, promise or inducement made by the Company, Parent or their respective
representatives with the exception of those promises contained in this Certificate and the Agreement. I further acknowledge that I have been advised to discuss all aspects of this Certificate with my attorney. 

 

	 	4.	 I agree that this Certificate is part of the Agreement. 

 

	 	5.	 I have been provided with the opportunity to consider this Certificate for
twenty-one (21) calendar days from the Date of Termination (the “Consideration Period”). I understand that for a period of seven (7) business days from the day of the execution of this
Certificate, I shall retain the right to revoke this Certificate by written notice that must be received by the undersigned before the end of such revocation period. This Certificate shall become effective on the business day immediately following
the expiration of the revocation period (the “Effective Date”), provided that I do not revoke this Certificate during the revocation period. 

  
 [Signature page follows.]

	
	  

	Michael D. Taylor, Ph.D.
	
	  

	Date

 EXHIBIT B 

Below is a summary of all of the Executive’s outstanding equity grants as of March 17, 2019.1 
  

																																									
	 Grant
Number

	  	Grant
Date
	 	  	Plan
	 	  	Type
	 	  	Shares
	 	  	Price
	 	  	Total
Vested
	 	  	Total
Unvested
	 	  	Exercised/
Released
	 	  	Outstanding/
Unreleased
	 	  	Exercisable/
Releasable
	 
	 000283
	  	 	01/30/2019	 	  	 	2017	 	  	 	ISO	 	  	 	18,975.00	 	  	$	26.35	 	  	 	690.00	 	  	 	18,285.00	 	  	 	0.00	 	  	 	18,975.00	 	  	 	690.00	 
	 000284
	  	 	01/30/2019	 	  	 	2017	 	  	 	NQ	 	  	 	244,025.00	 	  	$	26.35	 	  	 	10,268.00	 	  	 	233,757.00	 	  	 	0.00	 	  	 	244,025.00	 	  	 	10,268.00	 
	 000012
	  	 	12/18/2015	 	  	 	2015	 	  	 	NQ	 	  	 	502,658.00	 	  	$	1.89	 	  	 	502,658.00	 	  	 	0.00	 	  	 	13,997.00	 	  	 	488,661.00	 	  	 	488,661.00	 
	 R000012
	  	 	12/18/2015	 	  	 	2015	 	  	 	NQ	 	  	 	50,974.00	 	  	$	1.89	 	  	 	50,974.00	 	  	 	0.00	 	  	 	0.00	 	  	 	50,974.00	 	  	 	50,974.00	 
	 000028
	  	 	12/18/2015	 	  	 	2015	 	  	 	NQ	 	  	 	123,034.00	 	  	$	1.89	 	  	 	105,092.00	 	  	 	17,942.00	 	  	 	0.00	 	  	 	123,034.00	 	  	 	105,092.00	 
	 000051
	  	 	09/27/2016	 	  	 	2015	 	  	 	NQ	 	  	 	217,525.00	 	  	$	3.95	 	  	 	145,017.00	 	  	 	72,508.00	 	  	 	0.00	 	  	 	217,525.00	 	  	 	145,017.00	 
	 000089
	  	 	06/04/2017	 	  	 	2015	 	  	 	NQ	 	  	 	247,633.00	 	  	$	6.13	 	  	 	108,339.00	 	  	 	139,294.00	 	  	 	0.00	 	  	 	247,633.00	 	  	 	108,339.00	 
	 000167
	  	 	02/16/2018	 	  	 	2017	 	  	 	NQ	 	  	 	225,000.00	 	  	$	29.71	 	  	 	65,625.00	 	  	 	159,375.00	 	  	 	0.00	 	  	 	225,000.00	 	  	 	65,625.00	 
		  				  				  				  				  				  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
		  				  				  				  				  	 	Total	 	  	 	988,663.00	 	  	 	641,161.00	 	  	 	13,997.00	 	  	 	1,615,827.00	 	  	 	974,666.00	 

  

	1 	 Grants 000283 and 000284 together comprise the January 30 Award.

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