Document:

EX-10.33

 Exhibit 10.33 

AMBRX, INC. 
 EMPLOYEE
STOCK PURCHASE PLAN 
 ARTICLE I. 

PURPOSE, SCOPE AND ADMINISTRATION OF THE PLAN 

1.1       Purpose and Scope. The purpose of the Ambrx, Inc. Employee Stock Purchase Plan
(the “Plan”) is to assist employees of Ambrx, Inc. and its Designated Subsidiaries in acquiring a stock ownership interest in the Company pursuant to a plan which is intended to qualify as an “employee stock purchase plan”
under Section 423 of the Internal Revenue Code of 1986, as amended. 
 1.2      
Administration of Plan. The Plan shall be administered by the Committee. The Committee shall have the power to make, amend and repeal rules and regulations for the interpretation and administration of the Plan consistent with the
qualification of the Plan under Section 423 of the Code, and the Committee also is authorized to set and change the Offering Periods and Exercise Dates under the Plan by providing notice to all Eligible Employees as soon as practicable prior
thereto. The Committee may delegate administrative tasks under the Plan to one or more Employees of the Company. The Committee’s interpretation and decisions with respect to the Plan shall be final and conclusive. 

ARTICLE II. 
 DEFINITIONS

 Whenever the following terms are used in the Plan, they shall have the meaning specified below unless the context
clearly indicates to the contrary. The singular pronoun shall include the plural where the context so indicates. 

2.1       “Administrator” shall mean the Committee, or such individuals to
which authority to administer the Plan has been delegated under Section 1.2. 

2.2       “Board” shall mean the Board of Directors of the Company. 

2.3       “Code” shall mean the Internal Revenue Code of 1986, as amended.

 2.4       “Committee” shall mean the Compensation Committee of the Board.

 2.5       “Common Stock” shall mean shares of common stock par value
$0.001 of the Company. 
 2.6       “Company” shall mean Ambrx, Inc., a
Delaware corporation. 
 2.7       “Compensation” shall mean the taxable
compensation for a calendar year reportable by the Company or a Designated Subsidiary on an Employee’s IRS Form W-2, excluding reimbursements or other expense allowances, fringe benefits, moving expenses, deferred compensation, any payments
made to an Employee performing Qualified Military Service in lieu of wages the Employee would have received from the Company if the Employee were performing service for the Company and welfare benefits and including salary reduction contributions an
Employee made to a Company sponsored cafeteria, qualified transportation fringe, simplified employee pension, 401(k), 457(b) or 403(b) plan. 

 2.8       “Designated
Subsidiary” shall mean the Subsidiaries that have been designated by the Committee from time to time in its sole discretion as eligible to participate in the Plan, including any Subsidiary in existence on the Effective Date and any
Subsidiary formed or acquired following the Effective Date. 
 2.9       “Effective
Date” shall mean the date the Plan is approved by stockholders of the Company in accordance with the Company’s bylaws, articles of incorporation and applicable state law; provided that such stockholder approval is obtained within
twelve months of the date the Plan is adopted by the Board. 
 2.10     “Eligible
Employee” shall mean an Employee who (a) is customarily scheduled to work at least 20 hours per week, (b) whose customary employment is more than five (5) months in a calendar year, (c) as determined by the
Administrator, is not a highly compensated employee (within the meaning of Section 414(q) of the Code), and (d) after the granting of the Option would not be deemed for purposes of Section 423(b)(3) of the Code to possess 5% or more
of the total combined voting power or value of all classes of stock of the Company or any Subsidiary. For purposes of clause (d), the rules of Section 424(d) of the Code with regard to the attribution of stock ownership shall apply in
determining the stock ownership of an individual, and stock which an Employee may purchase under outstanding options shall be treated as stock owned by the Employee. Notwithstanding the foregoing the Administrator may exclude from participation in
the Plan as an Eligible Employee any Employee who is a citizen or resident of a foreign jurisdiction (without regard to whether they are also a citizen of the Unites States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the
Code) if either (i) the grant of the Option is prohibited under the laws of the jurisdiction governing such Employee, or (ii) compliance with the laws of the foreign jurisdiction would cause the Plan or the Option to violate the
requirements of Section 423 of the Code. 
 2.11     “Employee” shall mean any
person who renders services to the Company or a Designated Subsidiary in the status of an employee within the meaning of Section 3401(c) of the Code. “Employee” shall not include any director of the Company or a Designated Subsidiary
who does not render services to the Company or a Designated Subsidiary in the status of an employee within the meaning of Section 3401(c) of the Code. For purposes of the Plan, the employment relationship shall be treated as continuing intact
while the individual is on sick leave or other leave of absence approved by the Company or Designated Subsidiary and meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) Where the period of leave exceeds three (3) months
and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three (3)-month period. 

2.12     “Enrollment Date” shall mean the first day of each Offering Period. 

2.13     “Exercise Date” except as provided in Section 5.2, shall mean the last day
of each Offering Period. 

  
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 2.14     “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended. 
 2.15     “Fair Market Value” mean, as
of any date, the value of Common Stock determined as follows: 
 (a)     If the Common Stock is listed
on any established stock exchange or a national market system, its Fair Market Value shall be the closing sales price for such stock as quoted on such exchange for such date, or if no sale occurred on such date, the first market trading day
immediately prior to such date during which a sale occurred, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(b)     if the Common Stock is not traded on a stock exchange but is quoted on a national market or other
quotation system, the last sales price on such date, or if no sales occurred on such date, then on the date immediately prior to such date on which sales prices are reported, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable; or 
 (c)     in the absence of an established market for the Common
Stock, the Fair Market Value thereof shall be determined by the Board. 
 2.16     “Offering
Period” shall mean such consecutive periods as the Committee may establish, provided that any Offering Period shall not exceed six (6) months in length. 

2.17     “Option” shall mean the right to purchase shares of Common Stock pursuant to
the Plan during each Offering Period. 
 2.18     “Option Price” shall mean the
purchase price of a share of Common Stock hereunder as provided in Section 4.2 below. 
 2.19    
“Parent” means any corporation, other than the Company, in an unbroken chain of corporations ending with the Company if, at the time of the determination, each of the corporations other than the Company owns stock possessing 50% or
more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

2.20     “Participant” shall mean any Eligible Employee who elects to participate in the
Plan. 
 2.21     “Plan” shall mean this Ambrx, Inc. Employee Stock Purchase Plan, as
it may be amended from time to time. 
 2.22     “Plan Account” shall mean a
bookkeeping account established and maintained by the Company in the name of each Participant. 

2.23     “Qualified Military Service” shall mean service in the uniformed services of
the United States for a period of greater than 30 days that results in the Employee having a right of reemployment with the Company under federal law. 

  
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 2.24     “Subsidiary” shall mean any
corporation, other than the Company, in an unbroken chain of corporations beginning with the Company if, at the time of the determination, each of the corporations other than the last corporation in an unbroken chain owns stock possessing 50% or
more of the total combined voting power of all classes of stock in one of the other corporations in such chain; provided, however, that a limited liability company or partnership may be treated as a Subsidiary to the extent either (i) such
entity is treated as a disregarded entity under Treasury Regulation Section 301.7701-3(a) by reason of the Company or any other Subsidiary which is a corporation being the sole owner of such entity, or (ii) such entity elects to be
classified as a corporation under Treasury Regulation Section 301.7701-3(a) and such entity would otherwise qualify as a Subsidiary. 

ARTICLE III. 

PARTICIPATION 

3.1     Eligibility. 

(a)     Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a given
Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of Articles IV and V, and the limitations imposed by Section 423(b) of the Code and the Treasury
Regulations thereunder. 
 (b)     No Eligible Employee shall be granted an Option under the Plan which
permits his rights to purchase stock under the Plan, and to purchase stock under all other employee stock purchase plans of the Company, any Parent or any Subsidiary subject to the Section 423, to accrue at a rate which exceeds $25,000 of Fair
Market Value of such stock (determined at the time the option is granted) for each calendar year in which the Option is outstanding at any time. For purposes of the limitation imposed by this subsection, the right to purchase stock under an Option
accrues when the Option (or any portion thereof) first becomes exercisable during the calendar year, the right to purchase stock under an Option accrues at the rate provided in the Option, but in no case may such rate exceed $25,000 of Fair Market
Value of such stock (determined at the time such option is granted) for any one calendar year, and a right to purchase stock which has accrued under an Option may not be carried over to any other Option. This limitation shall be applied in
accordance with Section 423(b)(8) of the Code and the Treasury Regulations thereunder. 

3.2     Election to Participate; Payroll Deductions 

(a)     Except as provided in Section 3.3, an Eligible Employee may participate in the Plan only by
means of payroll deduction. An Eligible Employee may elect to participate in the Plan by delivering to the Company by such time designated by the Administrator preceding the Enrollment Date for such Offering Period a payroll deduction authorization
in such manner as prescribed by the Administrator. 
 (b)     Payroll deductions shall be such minimum
amount as the Administrator may establish, but not more than 15% of the Participant’s Compensation as of the Offering Date, subject to the provisions of Section 3.1(b) hereof. Amounts deducted from a Participant’s Compensation
pursuant to this Section 3.2 shall be credited to the Participant’s Plan Account. 

  
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 (c)     A Participant’s election to participate in the
Plan with respect to an Offering Period shall enroll such Participant in the Plan for each successive Offering Period at the same payroll deduction percentage as in effect at the termination of the prior Offering Period, unless such Participant
delivers to the Company a different election with respect to the successive Offering Period by such time and in such manner as is designated by the Administrator for enrollment in the Plan for such successive Offering Period, or unless such
Participant becomes ineligible for participation in the Plan. 
 3.3     Leave of Absence.
During leaves of absence approved by the Company meeting the requirements of Treasury Regulation Section 1.421-1(h)(2) under the Code, a Participant may continue participation in the Plan by making cash payments to the Company on his or her
normal payday equal to his or her authorized payroll deduction. 
 ARTICLE IV. 

PURCHASE OF SHARES 

4.1     Grant of Option. Subject to the limitations of Section 3.1(b), each Participant
participating in such Offering Period shall be granted an Option to purchase on the Exercise Date for such Offering Period (at the applicable Option Price) up to a number of shares of Common Stock determined by dividing such Participant’s
payroll deductions accumulated prior to such Exercise Date and retained in the Participant’s Plan Account on such Exercise Date by the applicable Option Price. The Option shall expire on the last day of the Offering Period. 

4.2     Option Price. The Option Price per share of the Common Stock sold to Participants
hereunder shall be 85% of the Fair Market Value of such share on either the Offering Date or the Exercise Date of the Offering Period, whichever is lower, but in no event shall the Option Price per share be less than the par value per share of the
Common Stock. 
 4.3     Purchase of Shares. 

(a)     On each Exercise Date on which he or she is employed, each Participant will automatically and
without any action on his or her part be deemed to have exercised his or her Option to purchase at the Option Price the largest number of whole shares of Common Stock which can be purchased with the amount in the Participant’s Plan Account. The
balance, if any, remaining in the Participant’s Plan Account (after exercise of his or her Option) as of an Exercise Date shall be carried forward to the next Offering Period, unless the Participant has elected to withdraw from the Plan
pursuant to Section 6.1 below. 
 (b)     As soon as practicable following each Exercise Date, the
number of shares of Common Stock purchased by such Participant pursuant to subsection (a) above will be delivered, in the Company’s sole discretion, to either (i) the Participant, or (ii) an account established in the
Participant’s name at a stock brokerage or other financial services firm designated by the Company. If the Company is required to obtain from any commission or agency authority to issue any such shares of Common Stock, the Company will seek to
obtain such authority. Inability of the Company to obtain from any such commission or agency authority which counsel for the Company deems necessary for the lawful issuance of any such shares shall relieve the Company from liability to any
Participant except to refund to him or her the amount withheld. 

  
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 (c)     A Participant shall have the right at any time to
request in writing a certificate or certificates for all or a portion of the whole shares of Common Stock purchased hereunder. Upon receipt of a Participant’s written request for any such certificate, the Company shall (or shall cause its agent
to), deliver any such certificate to the Participant as soon as practicable thereafter. 

4.4     Transferability of Rights. An Option granted under the Plan shall not be transferable
and is exercisable only by the Participant. No option or interest or right to the option shall be available to pay off any debts, contracts or engagements of the Participant or his or her successors in interest or shall be subject to disposition by
pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any
attempt at disposition of the option shall have no effect. 
 ARTICLE V. 

PROVISIONS RELATING TO COMMON STOCK 

5.1     Common Stock Reserved. Subject to adjustment as provided in Section 5.2, the
maximum number of shares of Common Stock that shall be made available for sale under the Plan shall be 1,590,0001, plus an annual increase on the first day of each of year beginning after the
Effective Date and ending in 2024 equal to: (a) one percent of the shares outstanding on the last day of the immediately preceding fiscal year, or (b) such lesser number of shares as is determined by the Board. Subject to adjustment as
provided in Section 5.2, a maximum of 10,500,0001 shares of Common Stock shall be available for issuance under the Plan. Shares of Common Stock made available for sale under the Plan may
be authorized but unissued or reacquired shares reserved for issuance under the Plan. 

5.2     Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset
Sale. 
 (a)     Changes in Capitalization. Subject to any required action by the
stockholders of the Company, the number of shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under Option, as well as the price per share and the number of shares of Common Stock covered by each Option
under the Plan which has not yet been exercised shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or
reclassification of the Common Stock, or any other increase or decrease in the number of shares of Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities
of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Administrator, whose determination in that respect shall be final, binding and conclusive. Except as
expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price
of shares of Common Stock subject to an Option. 
  
  

1 This number does not reflect the reverse stock split which will be
implemented by the Company in connection with the IPO. 

  
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 (b)     Dissolution or Liquidation. In the event of
the proposed dissolution or liquidation of the Company, the Offering Period then in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall terminate immediately prior to the consummation of such
proposed dissolution or liquidation, unless provided otherwise by the Administrator. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation. The Administrator shall notify each Participant in
writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically
on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof. 

(c)     Merger or Asset Sale. In the event of a proposed sale of all or substantially all of the
assets of the Company, or the merger of the Company with or into another corporation, where the Company is not the surviving entity, each outstanding Option shall be assumed or an equivalent Option substituted by the successor corporation or a
Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option, any Offering Periods then in progress shall be shortened by setting a New Exercise Date and any Offering
Periods then in progress shall end on the New Exercise Date. The New Exercise Date shall be before the date of the Company’s proposed sale or merger. The Administrator shall notify each Participant in writing, at least ten (10) business
days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to
such date the Participant has withdrawn from the Offering Period as provided in Section 6.1 hereof. 

5.3     Insufficient Shares. If the Administrator determines that, on a given Exercise Date,
the number of shares with respect to which Options are to be exercised may exceed (i) the number of shares of Common Stock that were available for issuance under the Plan on the Enrollment Date of the applicable Offering Period, or
(ii) the number of shares available for sale under the Plan on such Exercise Date, the Administrator shall make a pro rata allocation of the shares of Common Stock available for issuance on such Exercise Date in as uniform a manner as shall be
practicable and as it shall determine in its sole discretion to be equitable among all Participants exercising Options to purchase Common Stock on such Exercise Date, and unless additional shares are authorized for issuance under the Plan, no
further Offering Periods shall take place and the Plan shall terminate pursuant to Section 7.5 hereof. The Company may make pro rata allocation of the shares available on the Enrollment Date of any applicable Offering Period pursuant to the
preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. If the Plan is so terminated, then the balance of the amount credited to
the Participant’s Plan Account which has not been applied to the purchase of shares of Common Stock shall be paid to such Participant in one lump sum in cash as soon as reasonably practicable after such Exercise Date, without any interest
thereon. 

  
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 ARTICLE VI. 

TERMINATION OF PARTICIPATION 

6.1     Cessation of Contributions; Voluntary Withdrawal. 

(a)     A Participant may cease payroll deductions during an Offering Period by delivering written notice
of such cessation to the Company in such form and at such time prior to the Exercise Date for such Offering Period as may be established by the Administrator. Upon any such cessation, the Participant may elect either to withdraw from the Plan
pursuant to subsection (b) below or to have amounts credited to his or her Plan Account held in the Plan for the purchase of Common Stock pursuant to Section 4.3 for such Offering Period. Upon receipt of a notice of withdrawal from the
Plan, the Participant’s payroll deduction authorization and his or her Option to purchase under the Plan shall terminate. 

(b)     A Participant’s withdrawal from an Offering Period shall not have any effect upon his or her
eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the Participant withdraws. 

(c)     A Participant who ceases contributions to the Plan during any Offering Period shall not be
permitted to resume contributions to the Plan for that Offering Period. 
 6.2     Termination
of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee, for any reason, he or she shall be deemed to have elected to withdraw from the Plan and the Participant’s Plan Account shall be paid to such Participant or, in
the case of his or her death, to the person or persons entitled thereto under Section 7.2 hereof, as soon as reasonably practicable and such Participant’s Option for the Offering Period shall be automatically terminated. 

ARTICLE VII. 
 GENERAL
PROVISIONS 
 7.1     Administration. 

(a)     It shall be the duty of the Administrator to conduct the general administration of the Plan in
accordance with the provisions of the Plan. The Administrator shall have the power to interpret the Plan and the terms of the options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent
therewith and to interpret, amend or revoke any such rules. The Administrator at its option may utilize the services of an agent to assist in the administration of the Plan including establishing and maintaining an individual securities account
under the Plan for each participant. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Administrator under the Plan. 

(b)     All expenses and liabilities incurred by the Administrator in connection with the administration
of the Plan shall be borne by the Company. The Administrator may, with the approval of the Committee, employ attorneys, consultants, 

  
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accountants, appraisers, brokers or other persons. The Administrator, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such
persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested persons. No member of the Board or Administrator
shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the options, and all members of the Board or Administrator shall be fully protected by the Company in respect to any such
action, determination, or interpretation. 
 7.2     Designation of Beneficiary. 

(a)     A Participant may file a written designation of a beneficiary who is to receive any shares and
cash, if any, from the Participant’s Plan Account under the Plan in the event of such Participant’s death subsequent to an Exercise Date on which the Option is exercised but prior to delivery to such Participant of such shares and cash. In
addition, a Participant may file a written designation of a beneficiary who is to receive any cash from the Participant’s Plan Account in the event of such Participant’s death prior to exercise of the Option. If a participant is married
and the designated beneficiary is not the spouse, spousal consent shall be required for such designation to be effective. 

(b)     Such designation of beneficiary may be changed by the Participant at any time by written notice
to the Administrator. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company shall deliver such shares and/or cash to
the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any
one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

7.3     Reports. Individual accounts shall be maintained for each Participant in the Plan.
Statements of Plan Accounts shall be given to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option Price, the number of shares purchased and the remaining cash balance, if any. 

7.4     Condition of Employment. Neither the creation of the Plan nor an Employee’s
participation therein shall be deemed to create a contract of employment, any right of continued employment or in any way affect the right of the Company or a Subsidiary to terminate an Employee at any time with or without cause. 

7.5     Amendment and Termination of the Plan 

(a)     The Board may, in its sole discretion, amend, suspend or terminate the Plan at any time and from
time to time; provided, however, that without approval of the Company’s stockholders given within twelve (12) months before or after action by the Board, the Plan may not be amended to increase the maximum number of shares subject to the
Plan or change the designation or class of Eligible Employees. 

  
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 (b)     Without stockholder consent and without regard to
whether any participant rights may be considered to have been “adversely affected,” the Administrator shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering
Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s
processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly
correspond with amounts withheld from the Participant’s Compensation, and establish such other limitations or procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan. 

(c)     In the event the Committee determines that the ongoing operation of the Plan may result in
unfavorable financial accounting consequences, the Committee may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to: 

(i)     altering the Option Price for any Offering Period including an Offering Period
underway at the time of the change in Option Price; 
 (ii)     shortening any Offering
Period so that the Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of the Administrator action; and 

(iii)     allocating shares of Common Stock. 

Such modifications or amendments shall not require stockholder approval or the consent of any Participant. 

(d)     Upon termination of the Plan, the balance in each Participant’s Plan Account shall be
refunded as soon as practicable after such termination, without any interest thereon. 

7.6     Use of Funds; No Interest Paid. All funds received by the Company by reason of
purchase of Common Stock under the Plan will be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose. No interest will be paid to any Participant or credited under the Plan.

 7.7     Term; Approval by Stockholders. The Plan shall terminate on the tenth
anniversary of the date of its initial approval by the stockholders of the Company, unless earlier terminated by action of the Board. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. 

7.8     Effect Upon Other Plans. The adoption of the Plan shall not affect any other
compensation or incentive plans in effect for the Company or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company or any Subsidiary (a) to establish any other forms of incentives or compensation for Employees
of the Company or any Subsidiary, 

  
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or (b) to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of options
in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association. 

7.9     Conformity to Securities Laws. Notwithstanding any other provision of the Plan, the
Plan and the participation in the Plan by any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption rule under Section 16 of the Exchange Act
(including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed amended to the
extent necessary to conform to such applicable exemptive rule. 
 7.10     Notice of Disposition of
Shares. The Company may require any Participant to give the Company prompt notice of any disposition of shares of Common Stock, acquired pursuant to the Plan, within two years after the applicable Enrollment Date or within one year after the
applicable Exercise Date with respect to such shares. The Company may direct that the certificates evidencing shares acquired pursuant to the Plan refer to such requirement. 

7.11     Tax Withholding. The Company shall be entitled to require payment in cash or deduction
from other compensation payable to each Participant of any sums required by federal, state or local tax law to be withheld with respect to any purchase of shares of Common Stock under the Plan or any sale of such shares. 

7.12     Governing Law. The Plan and all rights and obligations thereunder shall be construed and
enforced in accordance with the laws of the State of Delaware. 
 7.13     Notices. All notices
or other communications by a participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for
the receipt thereof. 
 7.14     Conditions To Issuance of Shares. The Company shall not be
required to issue or deliver any certificate or certificates for shares of Common Stock purchased upon the exercise of Options prior to fulfillment of all the following conditions: 

(a)     The admission of such shares to listing on all stock exchanges, if any, on which is then listed;
and 
 (b)     The completion of any registration or other qualification of such shares under any state
or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Administrator shall, in its absolute discretion, deem necessary or advisable; and 

(c)     The obtaining of any approval or other clearance from any state or federal governmental agency
which the Administrator shall, in its absolute discretion, determine to be necessary or advisable; and 

  
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 (d)     The payment to the Company of all amounts which it
is required to withhold under federal, state or local law upon exercise of the Option; and 
 (e)    
The lapse of such reasonable period of time following the exercise of the Option as the Administrator may from time to time establish for reasons of administrative convenience. 

7.15     Rights as Stockholders. With respect to shares of Common Stock subject to an Option, a
Participant shall not be deemed to be a stockholder and shall not have any of the rights or privileges of a stockholder. A Participant shall have the rights and privileges of a stockholder when, but not until, a certificate has been issued to him or
her following exercise of his or her Option. 
 7.16     Equal Rights and Privileges. All
Eligible Employees of the Company (or of any Designated Subsidiary) will have equal rights and privileges under the Plan so that the Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code or
applicable Treasury Regulations thereunder. Any provision of the Plan that is inconsistent with Code Section 423 or applicable Treasury Regulations thereunder will, without further act or amendment by the Company, the Board or the
Administrator, be reformed to comply with the equal rights and privileges requirement of Code Section 423 or applicable Treasury Regulations thereunder. 

  
 12EX-10.34

 Exhibit 10.34 

AMBRX, INC. 
 EXECUTIVE
INCENTIVE PLAN 
 I. ESTABLISHMENT AND PURPOSE 

Ambrx, Inc. (the “Company”) hereby establishes the Ambrx, Inc. Executive Incentive Plan (as may be amended from time to time,
the “Plan”) effective as of January 1, 2014. The purpose of the Plan is to (i) attract and retain highly qualified individuals; (ii) obtain from each eligible Plan participant the best possible performance;
(iii) establish one or more Performance Goals (as defined below) based on objective criteria; (iv) further underscore the importance of achieving business objectives for the short and long term; and (v) include in each eligible Plan
participant’s compensation package an annual incentive component which is tied directly to the achievement of those objectives. 
 II. TERM 

A.    The Committee (as defined below) may amend or terminate the Plan at any time; provided, however that except
in the event of a Change in Control (as defined below), the Committee may not terminate the Plan during any performance period without payment of a pro rata portion of any bonus based on the period of time elapsed during the performance period and a
determination of the Committee as to the satisfaction of pro rata Performance Goals for such period. For this purpose, a “Change in Control” shall have the meaning set forth in the Company’s 2013 Equity Incentive Plan, as
amended from time to time and any replacement plan thereof. 
 III. ADMINISTRATION 

A.     Plan Administrator. The Plan shall be administered by the Compensation Committee of the Board of Directors
of the Company or a subcommittee thereof (the “Committee”); which Committee shall consist solely of two or more directors who shall qualify as “outside directors” as defined under Section 162(m) of the Code and
related Treasury regulations. 
 B.     Authority. The Committee shall have full power to construe and interpret
the Plan, establish and amend rules and regulations for its administration, and perform all other acts relating to the Plan, including the delegation of administrative responsibilities, that it believes reasonable and proper and in conformity with
the purposes of the Plan. 
 C.     Determinations. Any decision made, or action taken, by the Committee arising
out of or in connection with the interpretation and/or administration of the Plan shall be final, conclusive and binding on all persons affected thereby. All powers of the Committee shall be executed in its sole discretion, in the best interest of
the Company, not as a fiduciary, and in keeping with the objectives of the Plan and need not be uniform as to similarly situated individuals. 

 IV. ELIGIBILITY AND PARTICIPATION 

Executive officers of the Company within the meaning of Rule 3b-7 of the Securities Exchange Act of 1934, as amended (as determined
from time to time by the Board of Directors of the Company) are eligible to participate in the Plan (each a “Participant”). 
 V.
BUSINESS CRITERIA 
 A.     Performance Goals. A Participant may receive a bonus payment under the Plan based
upon the attainment of performance objectives which are established by the Committee, including but not limited to one or more of the following business criteria with respect to the Company, any of its subsidiaries, divisions, business units,
segments or regions or any individual (the “Performance Goals”): (i) earnings (either net or gross and either before or after one or more of the following: (A) interest, (B) taxes, (C) depreciation and
(D) amortization), (ii) economic value-added (as determined by the Committee), (iii) sales or revenue, (iv) net income (either before or after taxes), (v) cash flow (including, but not limited to, operating cash flow and
free cash flow), (vi) return on capital, (vii) return on invested capital, (viii) return on stockholders’ equity, (ix) return on assets, (x) stockholder return, (xi) return on sales, (xii) gross or net profit
margin, (xiii) productivity, (xiv) expense, (xv) operating margin, (xvi) operating efficiency, (xvii) customer satisfaction, (xviii) working capital, (xix) earnings per share, (xx) price per share of common
stock, (xxi) market share, (xxii) costs, (xxiii) expenses, (xxiv) profits, (xxv) gross operating profit, (xxvi) capital deployment, (xxvii) implementation or completion of critical projects, (xxviii) funds
from operations, (xxix) branding; (xxx) organizational or succession planning; (xxxi) licensing or fee growth, (xxxii) disposition or acquisition of assets; (xxxiii) cost savings; (xxxiv) regulatory body approval for
commercialization of new products; (xxxv) settlement of disputes; (xxxvi) plant closings or start-ups; (xxxvii) sales penetration or new business awards, any of which may be measured either in absolute terms or as compared to any
incremental increase or decrease or as compared to results of a peer group or to market performance indicators or indices. 

B.     Adjustments. The Committee may, in its sole discretion, make adjustments to one or more of the Performance
Goals. Such adjustments may include, but are not limited to, one or more of the following: (i) items related to a change in accounting principle; (ii) items relating to financing activities; (iii) expenses for restructuring or
productivity initiatives; (iv) other non-operating items; (v) items related to acquisitions; (vi) items attributable to the business operations of any entity acquired by the Company during the performance period; (vii) items
related to the disposal of a business or segment of a business; (viii) items related to discontinued operations that do not qualify as a segment of a business under applicable accounting principles; (ix) items attributable to any stock
dividend, stock split, combination or exchange of shares occurring during the performance period; (x) any other items of significant income or expense which are determined to be appropriate adjustments; (xi) items relating to unusual or
extraordinary corporate transactions, events or developments; (xii) items related to amortization of acquired intangible assets; (xiii) items that are outside the scope of the Company’s core, on-going business activities;
(xiv) items related to acquired in-process research and development; (xv) items relating to changes in tax laws; (xvi) items relating to major licensing or partnership arrangements; (xvii) items relating to asset impairment
charges; (xviii) items relating to gains or losses for litigation, arbitration and contractual settlements or (xix) items relating to any other unusual or nonrecurring events or changes in applicable laws, accounting principles or business
conditions. 

  
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 VI. BONUS DETERMINATIONS 

A.     Bonus Formulas. Any bonuses paid to Participants under the Plan shall be based upon such bonus formula as
the Committee shall determine that tie such bonuses to one or more performance objectives relating to the Performance Goals. Bonus formulas may be set for such performance periods as the Committee shall determine. A performance period may be
concurrent or consecutive. Participants need not be employed on the first day of a performance period. If a Participant becomes eligible to participate in the Plan during a performance period, the Committee shall determine if such Participant shall
be eligible to participate in an award for such performance period and whether or not such award may be prorated for such period. 

B.     Adjustment of Bonuses. The Committee may in its sole discretion reduce or increase a bonus payable to a
Participant pursuant to the applicable bonus formula. 
 C.     Continued Employment. Unless otherwise required
by applicable law, the payment of a bonus to a Participant with respect to a performance period shall be conditioned upon the Participant’s employment by the Company on the last day of the performance period; provided, however, that in
the discretion of the Committee, full bonuses may be paid to Participants who have terminated employment due to disability or to the designee or estate of a Participant who died during such period and, to the extent earned, pro rata bonuses may be
paid to a Participant whose employment is terminated during the performance period. 
 VII. ADDITIONAL CONDITIONS 

A.     Additional Criteria. Once a bonus formula is established under Section VI based on one or more of the
Performance Goals, the Committee may with the consent of the Participant establish (and once established, rescind, waive or amend) additional conditions and terms of payment of awards (including but not limited to the achievement of other financial,
strategic or individual goals, which may be objective or subjective) as it deems desirable in carrying out the purposes of the Plan and may take into account such other factors as it deems appropriate in administering any aspect of the Plan. 

B.     Forfeiture and Claw-Back Provisions. The Committee may provide that any bonuses paid under the Plan shall be
subject to the provisions of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules
or regulations thereunder, to the extent set forth in such claw-back policy. 
 VIII. PAYMENT OF AWARDS 

A.     Form of Payment. All awards shall be paid in (i) cash or (ii) with the consent of the Participant
and the Committee, the equivalent value of common stock of the Company (“Common Stock”) based on the fair market value of the Common Stock on the date the bonus is awarded, as determined by the Committee. The Committee may impose
vesting and other similar conditions upon any payment of awards made in Common Stock. For this purpose fair 

  
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market value shall have the meaning set forth in the Company’s 2013 Equity Incentive Plan. Awards paid in Common Stock shall be paid under the Company’s 2013 Equity Incentive Plan, as
may be amended from time to time, or any successor equity incentive plan thereto. 
 B.     Timing of Payments.
Awards shall be paid as soon as practicable following the end of the performance period, but in no event shall payment be made later than two and one half months following the end of the performance period. 

IX. SPECIAL AWARDS AND OTHER PLANS 

Nothing contained in the Plan shall prohibit the Company from granting awards or authorizing other compensation to any person under any other
plan or authority or limit the authority of the Company to establish other special awards or incentive compensation plans providing for the payment of incentive compensation to employees (including those employees who are eligible to participate in
the Plan). 
 X. RIGHTS OF PLAN PARTICIPANTS 

A.     No Right to Continued Employment. Neither the Plan, nor the adoption or operation of the Plan, nor any
documents describing or referring to the Plan (or any part hereof) shall confer upon any Participant any right to continue in the employ of the Company or shall interfere with or restrict in any way the rights of the Company, which are hereby
expressly reserved, to discharge any Participant at any time for any reason whatsoever, with or without cause. 
 B.    
No Right to Company Assets. No individual to whom an award has been made or any other party shall have any interest in the cash or any other asset of the Company prior to such amount being paid. 

C.     Awards Not Transferrable. No right or interest of any Participant shall be assignable or transferable, or
subject to any claims of any creditor or subject to any lien. 
 D.     No Right to Continued Participation. In
no event shall the Company be obligated to pay to any Participant an award for any period by reason of the Company’s payment of an award to such Participant in any other period, or by reason of the Company’s payment of an award to any
other Participant or Participants in such period or in any other period. Nothing contained in this Plan shall confer upon any person any claim or right to any payments hereunder. Such payments shall be made at the sole discretion of the Committee.

 XI. SECTION 409A 
 Awards under
this Plan shall either be exempt from or be designed to comply with Section 409A of the Code. Notwithstanding anything to the contrary in the Plan or any award, if and to the extent the Committee shall determine that the terms of any award may
result in the failure of such award to be exempt from or comply with the requirements of Section 409A of the Code, or any applicable regulations or guidance promulgated by the Secretary of the Treasury in connection therewith, the Committee
shall have authority to take such action to amend, modify, cancel or terminate the Plan or any award as it deems necessary or advisable, including without limitation: 

  
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 1.     amendment or modification of the Plan or any award to conform the Plan
or such award to the requirements of Section 409A of the Code or any regulations or other guidance thereunder (including, without limitation, any amendment or modification of the terms of any award regarding vesting, exercise, or the timing or
form of payment); and 
 2.     cancellation or termination of any unvested award, or portion thereof, without any
payment to the Participant holding such award. 
 Any such amendment, modification, cancellation, or termination of the Plan or any award
may adversely affect the rights of an Participant with respect to such award without the Participant’s consent. 
 XII. MISCELLANEOUS 

A.     Withholding. The Company shall deduct all federal, state and local taxes required by law or Company policy
from any award paid hereunder. 
 B.     Unfunded Plan. The Plan shall be unfunded and is not intended to be
subject to the Employee Retirement Income Security Act of 1974, as amended. Amounts payable under the Plan are not and will not be transferred into a trust or otherwise set aside. The Company shall not be required to establish any special or
separate fund or to make any other segregation of assets to assure the payment of any award under the Plan. Any accounts under the Plan are for bookkeeping purposes only and do not represent a claim against the specific assets of the Company. 

C.     Severability. Any provision of the Plan that is prohibited or unenforceable shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining provisions of the Plan. 
 D.    
Governing Law. The Plan and the rights and obligations of the parties to the Plan shall be governed by, and construed and interpreted in accordance with, the law of the State of California (without regard to principles of conflicts of law).

  
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