Document:

EX-10.11

 Exhibit 10.11 

 
 

 
 700 Saginaw Drive, Suite 150 

Redwood City, CA 94063 
 February 27,
2018 
 Eric A. Lefebvre, M.D. 
 Re: Employment Offer

 Dear Eric: 
 Pliant Therapeutics, Inc.
(“Pliant” or the “Company”) is pleased to confirm its offer to employ you as Chief Medical Officer. You will report to the Company’s Chief Executive Officer, Bernard Coulie. Your effective date of hire as a regular, full
time employee (the “Start Date”) will be on May 1st, 2018 unless another date is agreed upon by you and the Company. 

Your salary will be paid at the rate of $380,000 per year, less payroll deductions and withholdings. You will be paid semi-monthly in accordance with the
Company’s usual payroll. You will also be eligible this year for a target bonus of 30% as a percentage of your annual compensation, based upon the achievement of corporate and individual goals, as agreed by the Board of Directors and pro-rated to reflect the portion of 2018 in which you are an employee of the Company. You will be eligible to participate each year in any annual bonus plan adopted by the Company and the Company, subject to
financial, business, and other circumstances and factors. 
 You will be eligible for standard Company benefits, including but not limited to health care
insurance, vacation, sick leave, holidays, 401(k), performance-based bonus program, and additional performance-based stock grants. The Company may change compensation and benefits from time to time at its discretion. 

Subject to the approval by the Board of Directors of the Company (the “Board”), in connection with the commencement of your employment, you will
receive the right to purchase 1,069,927 shares of the Company’s common stock (the “Restricted Shares”). The Restricted Shares will be granted following the commencement of your employment. The purchase price of the Restricted Shares
will be equal to the fair market value of the Company’s common stock on the date of the grant, and the Board of Directors may elect to seek a third party valuation of such fair market value, which could delay the date that the Restricted Shares
is granted. The Restricted Shares will be subject to the terms and conditions of the Company’s then-current inventive stock plan (the “Plan”) and form of restricted stock agreement. The Restricted Shares will vest as follows: one
quarter of the Restricted Shares will vest on the first anniversary of the Start Date, and following that, 1/48th of the Restricted Shares will vest on a monthly basis, in arrears.. In addition,
the Company will recommend that the Board grant you an additional option (separate from the 

 

 
 Eric A. Lefebvre, M.D. 

February 27, 2018 
  

 
Restricted Shares but at the same purchase price per share as the Restricted Shares) to purchase 178,321 shares of the Company’s common stock, which will be subject to the terms and
conditions of the Plan and a restricted stock purchase agreement. This additional grant will vest upon the successful completion of a Phase Ib study with a pharmacodynamic marker in 2019, as determined by the Board in its sole discretion. Vesting of
both the Restricted Shares and the additional grant is contingent on your continued full-time employment with the Company. 
 In addition, the Company will
provide you with a sign-on bonus of $80,000. This bonus will be paid during your first month of employment at the Company. Should you decide to leave the Company within the first year of your employment, you
will be expected to repay the bonus on a prorated basis. 
 As a Company employee, you will be expected to abide by Company rules and policies. As a
condition of employment, you must sign and comply with the attached Employee Confidential Information and Inventions Assignment Agreement, which prohibits unauthorized use or disclosure of Company proprietary information, among other obligations.

 In your work for the Company, you will be expected not to use or disclose any confidential information, including trade secrets, of any former employer
or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with training and experience comparable to your own, which is common knowledge
in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by the Company. You agree that you will not bring onto Company premises any unpublished documents or property belonging to any former employer or
other person to whom you have an obligation of confidentiality. You hereby represent that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company. 

Normal business hours are from 8:00 a.m. to 5:00 p.m., Monday through Friday. As an exempt salaried employee, you will be expected to work additional hours as
required by the nature of your work assignments. Your employment with the Company will be “at will.” You may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise,
the Company may terminate your employment at any time, with or without cause or advance notice. Your employment at-will status can only be modified in a written agreement signed by you and by an officer of the
Company. 
 Notwithstanding the foregoing, if the Company terminates your employment without Cause (as defined below), and other than for death or
disability, then the Company will pay you cash severance (the “Severance”) in an amount equal to nine (9) months of your base salary at the time of termination. Should you become re-employed
within a 9 month period, you agree to repay the 

 

 
 Eric A. Lefebvre, M.D. 

February 27, 2018 
  

 
severance amount less the number of months you were unemployed. Your eligibility to receive the Severance will be conditioned upon your (i) signing and not revoking a release of any and all
claims, in a form prescribed by the Company (the “Release”), and (ii) continued compliance with all legal and contractual obligations to the Company. The Severance will be paid in a lump-sum,
less deductions and withholdings, on the thirtieth (30th) day following your last day of employment, provided the Release has become effective. “Cause” for termination of your employment shall exist if the Board determines, in its
reasonable, good faith judgment that you engaged in any of the following behavior: (i) any act of embezzlement, fraud, theft or misappropriation including without limitation with respect to any asset or property of the Company; (ii) gross
negligence, willful misconduct or material neglect of duties or breach of fiduciary duty to the Company; (iii) material failure to use good faith efforts to satisfactorily perform your duties (which failure continues after you have been given
notice by the Company) or to follow the reasonable and lawful directions of the Board; (iv) violation of federal or state securities laws as it relates to any of the Company’s securities; (v) material breach of an employment,
consulting or other agreement with the Company that the Company and you have entered into or any personnel policy of which you have been made aware after notice and opportunity to cure if such breach is curable; or (vi) conviction of a felony,
or any crime involving moral turpitude. 
 This offer is contingent upon satisfactory proof of your right to work in the United States. You agree to assist
as needed and to complete any documentation at the Company’s request to meet these conditions. 
 This letter, together with your Employee Confidential
Information and Inventions Assignment Agreement, forms the complete and exclusive statement of your employment agreement with the Company. It supersedes any other agreements or promises made to you by anyone, whether oral or written. Changes in your
employment terms, other than those changes expressly reserved to the Company’s discretion in this letter, require a written modification signed by an officer of Company. 

Please sign and date this letter, and the enclosed Employee Confidential Information and Inventions Assignment Agreement and return them to Barbara Howes by
close of business on March 1, 2018, if you wish to accept employment at the Company under the terms described above. 
 We look forward to your
favorable reply and to a productive and enjoyable work relationship. 

 

 
 Eric A. Lefebvre, M.D. 

February 27, 2018 
  

	
	Sincerely,
	
	/s/ Bernard Coulie
	 Bernard Coulie M.D. Ph.D.
 Chief Executive
Officer, Pliant Therapeutics, Inc.

  

	
	Accepted:
	
	/s/ Eric A. Lefebvre
	Eric A. Lefebvre, M.D.

  

			
	Address:	 	[***]

			
	Date:	 	February 28, 2018

 Attachment: Employee Confidential Information and Inventions Assignment AgreementEX-10.12

 Exhibit 10.12 

 
 

 
 April 26, 2019 
 Dear
Barbara Howes: 
 We are very pleased to offer you the position of Chief Human Resources Officer, at Pliant Therapeutics, Inc., a Delaware
corporation (the “Company”), with an employment commencement date by May 1, 2019. This letter outlines certain terms and conditions of your employment with the Company. We would be delighted to answer any questions you
may have. 
 You will report to the Bernard Coulie, CEO at Pliant. You agree that you will devote your best efforts and your full business
time to the business and affairs of the Company and its subsidiaries, and you will be expected to be present during regular business hours. Your work location will be at the Company’s offices at 260 Littlefield Avenue, South San Francisco, CA
94080. This is a full-time exempt position. 
 Base Salary. We are offering you starting compensation at the annual salary of
$305,000, less applicable withholdings and deductions. Wages are paid semi-monthly in accordance with the Company’s normal payroll procedures. 

Annual Cash Incentive Bonus. Beginning with calendar year 2019, you will be eligible to receive an annual cash incentive bonus based
upon the achievement of annual performance goals or objectives established and measured by the Compensation Committee (the “Committee”) of the Company’s Board of Directors (the “Board”) in its
sole discretion. You will have a target annual incentive bonus opportunity equal to 30% of your annual base salary, payable in accordance with the Company’s annual cash incentive bonus program, as may be amended from time to time (but in no
event shall any actual bonus be paid later than March 15th of the calendar year immediately following the year for which such compensation is earned). Actual bonus awards may pay below or above your target opportunity, including a zero payout, based
on your and the Company’s achievement of the applicable performance goals or objectives. 
 Incentive Compensation. In addition,
if you decide to join the Company, it will be recommended at a meeting of the Board following the commencement of your employment that the Company grant you an option to purchase 600,000 shares of the Company’s Common Stock at an exercise price
per share equal to the fair market value per share of such Common Stock on the date of grant, as determined by the Board (the “Option”). One-hundred fifty thousand (150,000) shares subject to the
Option will vest on your start date with the Company. The remaining four hundred fifty thousand (450,000) shares subject to the Option (the “Remaining Shares”) will vest as follows: Twenty-five percent (25%) of the Remaining Shares shall
vest on the one-year anniversary of the commencement date of your employment (the “Vesting Commencement Date”), and l/48th of the Remaining Shares
shall vest each month thereafter on 

  
 

 

 
the same day of the month as the Vesting Commencement Date (or if there is no corresponding day, on the last day of such month), subject to your continuing to be an employee of the Company
through each such date. Your Option shall be subject to the terms and conditions of the Company’s 2015 Equity Incentive Plan and form of Stock Option Agreement, including vesting requirements. No right to any stock is earned or accrued until
such time that Company Common Stock is delivered to you upon the exercise of the Option, nor does the Option confer any right to continue vesting or employment. 

Employee Benefits. You will be eligible to participate in the Company’s standard employee benefits including vacation, sick leave,
medical, dental, life, 401(k), accidental life and dismemberment, and disability benefits, as in effect at the time of hire. Certain participation costs for our employee benefit programs are borne by our employees. Participation in our employee
benefit programs is subject to the terms of the underlying plans and requirements established by the group insurance carriers. The Company reserves the right to discontinue or amend its employee benefits, including group insurance programs, from
time to time in its sole discretion. Participation in any benefit program is not to be regarded as assurance of continued employment for any particular period of time. 

No conflicts. By signing below, you agree that there is no lawful reason to prevent you from accepting a position with the Company. We
also ask that, if you have not already done so, you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed by
the Company. It is the Company’s understanding that any such agreements will not prevent you from performing the duties of your position with the Company, and you represent that such is the case. 

Company Policies. As a Company employee, you will be expected to abide by the Company’s rules and policies which may change from
time to time in accordance with applicable laws. Such policies may include, without limitation, stock ownership guidelines, clawback policies, insider trading policies and policies regarding hedging or pledging of Company Common Stock. 

Confidential Information/Nondisclosure/Nonsolicitation of Employees. As a condition of your employment with the Company, you will be
required to sign the Company’s Confidential Information and Invention Assignment Agreement, a copy of which is enclosed (the “Confidentiality Agreement”). For the avoidance of doubt, nothing contained in this letter or
the Confidentiality Agreement limits your ability to report possible violations of law or regulation to, or file a charge or complaint with any federal, state or local governmental agency or commission (“Government
Agencies”). Further, nothing in this letter or the Confidentiality Agreement shall limit your ability under applicable law to (i) disclose in confidence trade secrets to federal, state, and local government officials, or to an
attorney, for the sole purpose of reporting or investigating a suspected violation of law, (ii) disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public
disclosure or (iii) communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the
Company. 

 Dispute Resolution Arbitration. As a condition of your employment, you must sign the
enclosed Mutual Arbitration Agreement which you should carefully review. Also enclosed are the related JAMS Rules. 
 At-Will Employment. Your employment is at will, which means that either you or the Company can terminate your employment with the Company at any time with or without notice and with or without cause. Nothing in
this letter or the Offer Package Documents (as defined below) shall be construed to alter the at-will nature of your employment relationship with the Company. In addition, nothing in this letter prohibits the
Company from terminating or modifying any of its compensation or benefits programs at any time. 
 Conditions to Employment. The
Company reserves the right to conduct background investigations and reference checks on all of its potential employees. Your job offer, therefore, is contingent upon a clearance of such background investigations and reference checks. For purposes of
federal immigration law, you are required, as a condition of employment, to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three
(3) business days of your date of hire or our employment relationship with you may be terminated. 
 Severability. Should any
provision contained in this letter be held as invalid, illegal or unenforceable, such holding shall not affect the validity of the remainder of this letter, the balance of which shall continue to be binding upon the parties with any such
modification to become a part hereof and treated as though originally set forth herein. 
 Enclosures. The Confidentiality Agreement
and the Mutual Arbitration Agreement are collectively referred to as the “Offer Package Documents.” 
 Acceptance
of Offer. To accept the Company’s offer of employment, please sign and date this letter in the space provided below and return it to me no later than ten (10) days after the date of this letter (the “Offer Deadline”)
along with the Offer Package Documents. A duplicate original of this letter is enclosed for your records. 
 Entire Agreement. This
letter, along with the Offer Package Documents, sets forth the terms of your employment with the Company and supersedes any prior representations or agreements including, but not limited to, any representations made during your recruitment,
interviews or pre-employment negotiations, whether written or oral. This letter, including, but not limited to, its at-will employment provision, may not be modified or
amended except by a written agreement signed by you and the Company’s Chief Executive Officer. This offer of employment will terminate if it is not accepted, signed and returned by the Offer Deadline. 

We are excited by the prospect of your joining our team and our working together to promote you and the Company’s success. 

 
	
	Sincerely,
	
	/s/ Bernard Coulie
	 Bernard Coulie, M.D., Ph.D.
 President and
Chief Executive Officer

  

			
	Agreed to and accepted:
		
	Signature:	 	/s/ Barbara Howes

			
		
	Printed Name:	 	Barbara Howes

			
		
	Date:	 	May 1, 2019

 Enclosures: Duplicate Letter; Confidential Information and Invention Assignment Agreement; Mutual Arbitration
Agreement; JAMS Rules

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