Document:

EX-10.23

 Exhibit 10.23 

CONSULTING AGREEMENT 
 This Consulting
Agreement (the Agreement), effective 7/15/14 (the Effective Date), is entered into by CAROL L. BROSGART, M.D., an individual with a principal place of business at 3133 Lewiston Avenue, Berkeley, CA 94705
(Consultant), and TOBIRA THERAPEUTICS, INC. a Delaware corporation with a place of business at 701 Gateway Blvd, Suite 200, South San Francisco, CA 94080 (Company). Consultant and Company agree as follows: 

1. SERVICES AND PAYMENT. 
 a.
Engagement. Company hereby engages Consultant to provide the services assigned by Company from time to time (the Services), and Consultant accepts such engagement. Consultant agrees to use best efforts to undertake and
complete the Services in accordance with the descriptions, schedules and assignments specified by the Company either in writing or by electronic communication. Consultant will report to the Chief Executive Officer of the Company. 

b. Fees and Expenses. The following shall be the only consideration due Consultant regarding the subject matter of this Agreement.
In accordance with Company’s usual accounts payable procedures, Company will pay Consultant at the rate of $9,165 per month for Services satisfactorily performed and delivered. At the end of each month in which Consultant performs Services,
Consultant shall submit an invoice on a monthly basis to Company, which invoice shall include any expenses that are reimbursable by the company. Company shall pay Consultant any undisputed amounts specified in such invoice within thirty
(30) days of receipt of such invoice. Subject to reasonable documentation, Company shall reimburse Consultant for its out-of-pocket expenses reasonably incurred in providing the Services; provided, that individual expenses in
excess of $1,000 must be approved in advance in writing by Company. Promptly after execution of this Agreement, Consultant shall deliver to Company a properly completed and duly executed Department of the Treasury IRS Form W-9 or, if Consultant is a
non-U.S. person, a Department of the Treasury IRS Form W-8BEN (or other appropriate Form W-8). Compensation Consultant receives under this agreement shall be separate from any compensation received as a member of the board of directors of the
Company. 
 2. INTELLECTUAL PROPERTY. 

a. Inventions Assignment. Company owns all right, title and interest (including patent rights, copyright rights, trade secret
rights, mask work rights, trademark rights, sui generis database rights and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all inventions (whether or not patentable), technologies,
works of authorship, software, mask works, designations, designs, know-how, ideas, data and other information and work products that are made, conceived, reduced to practice or obtained, in whole or in part, by Consultant, and that arise out of the
Services or that are based on or otherwise reflect any Proprietary Information (as defined below) (collectively, Inventions). Consultant will promptly provide and fully disclose all Inventions to Company. All Inventions are works made
for hire to the extent allowed by law and, in addition, Consultant agrees to make and does hereby make all assignments necessary to accomplish the foregoing ownership. Consultant shall assist Company, at Company’s expense, to further evidence,
confirm, record and perfect such assignments, and to perfect, obtain, maintain, enforce, and defend any rights assigned. Consultant hereby irrevocably designates and appoints Company and its officers as its agents and attorneys-in-fact (coupled with
an interest) to act for and in Consultant’s behalf to execute and file any document and to do all other lawfully permitted acts to further the foregoing with the same legal force and effect as if executed by Consultant. 

b. Confidentiality. Consultant agrees that all Inventions and all other financial, business, legal and technical information
(including, without limitation, the identity of and information relating to customers, prospects, vendors, affiliates and employees) that Consultant develops, learns or obtains in connection with the Services, or that are received by or for Company
in confidence, constitute Proprietary Information. Consultant will hold in strict confidence, and exercise all reasonable precautions to prevent unauthorized access to, and not disclose or, except in performing the Services, use any
Proprietary Information. However, Proprietary Information will not include information that Consultant can document is or becomes readily publicly available without restriction through no fault of Consultant. Upon termination and at Company’s
request at any other time, Consultant will promptly return to Company all materials and copies containing or embodying Proprietary Information, except that Consultant may keep its personal copy of its compensation records and this Agreement.
Consultant also recognizes and agrees that Consultant has no expectation of privacy with respect to Company’s telecommunications, networking or information processing systems (including, without limitation, stored computer files, email messages
and voice messages) and that Consultant’s activity, and any files or messages, on or using any of those systems may be monitored at any time without notice. 

  
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 c. Restrictions. As additional protection for the Proprietary Information, Consultant
agrees that during the period over which it is (or is supposed to be) providing Services (i) and for 1 year thereafter, Consultant will not encourage or solicit any employee, contractor or consultant of Company to leave Company for any reason,
or service or solicit the business or patronage of any of Company’s customers, suppliers or prospects for the benefit of Consultant or any other person, or divert, entice or otherwise take away from Company the business or patronage of any
customer, supplier or prospect, (ii) Consultant will not (in any capacity) engage in any activity that is in any way competitive with the business or demonstrably anticipated business of Company and (iii) Consultant will not (in any
capacity) assist any other person or organization in competing or preparing to compete with any business or demonstrably anticipated business of Company. Consultant understands that the restrictions set forth in this Section 2(c) are intended
to protect Company’s interest in its proprietary information and established relationships and goodwill with employees and business partners, and Consultant agrees that such restrictions are reasonable and appropriate for this purpose. 

d. Moral Rights. To the extent allowed by law, Section 2(a) and any license to Company hereunder includes all rights of
paternity, integrity, disclosure and withdrawal and any other rights that may be known as or referred to as moral rights, artist’s rights, droit moral or the like. To the extent any of the foregoing is ineffective under applicable law,
Consultant hereby provides any and all ratification and consents necessary to accomplish the purposes of the foregoing to the extent possible. Consultant will confirm any such ratification and consents from time to time as requested by Company.
Consultant will obtain the foregoing ratification, consents and authorizations, for Company’s exclusive benefit, from each person who provides any Services hereunder. 

e. License. If any part of the Services or Inventions is based on, incorporates or is an improvement or derivative of, or cannot
be reasonably and fully made, used, reproduced, modified, distributed or otherwise exploited, without using or violating any technology or intellectual property right owned by Consultant (or any third party) and not assigned hereunder
(Restricted Rights), then Consultant hereby grants and agrees to grant to Company and its affiliates, successors and assignees a nonexclusive, perpetual, irrevocable, worldwide, royalty-free, sublicensable right and license to exploit
and exercise all such Restricted Rights in support of Company’s exercise or exploitation of the Services, Inventions or other work performed hereunder (including any modifications, improvements and derivatives). Consultant agrees not to use or
disclose any Restricted Rights for which it is not fully authorized to grant the foregoing license. 
 3. WARRANTY. Consultant represents and
warrants that: (a) the Services will be performed in a professional and workmanlike manner; (b) none of the Services or any part of this Agreement is or will be inconsistent with any obligation Consultant may have to others; (c) all
work under this Agreement shall be Consultant’s original work and none of the Services or Inventions or any development, use, production, distribution or exploitation thereof will infringe, misappropriate or violate any intellectual property or
other right of any person or entity (including, without limitation, Consultant itself); (d) Consultant has the full right to provide Company with the assignments and rights provided for herein; and (e) Consultant will not disclose to
Company or use for its benefit any trade secret or proprietary or confidential information of any third party. 
 4. TERM AND TERMINATION. This
Agreement commences on the Effective Date and will remain in effect for one (1) year, or longer if mutually agreed in writing by the parties. If Company breaches a material provision of this Agreement, Consultant may terminate this Agreement
upon 30 days written notice, unless the breach is cured within that period. Company may terminate this Agreement at any time, with or without cause, upon written notice. If Company terminates without cause, it shall pay Consultant upon termination
all unpaid amounts due for Services completed prior to termination. Sections 2 through 5 (inclusive) of this Agreement, and any remedies for breach of this Agreement, shall survive any termination or expiration. 

5. GENERAL PROVISIONS. 
 a.
Relationship. Notwithstanding any provision hereof, for all purposes of this Agreement each party shall be and act as an independent contractor and not as partner, joint venturer, employer, employee or agent of the other and shall not bind
nor attempt to bind the other to any contract. Consultant is an independent contractor and is solely responsible for all taxes, withholdings, and other statutory or contractual obligations of any sort, including, but not limited to, Workers’
Compensation Insurance. Consultant agrees to defend, indemnify and hold Company harmless from any and all claims, damages, liabilities, losses, attorneys’ fees and expenses on account of (a) an alleged failure by Consultant to satisfy any
such obligations or any other obligation (under this Agreement or otherwise) or (b) any other action or inaction of Consultant. If Consultant is a corporation or other entity, it will ensure that its employees and agents are bound in writing to
Consultant’s obligations under this Agreement. 

  
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 b. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the state of California without regard to its conflicts of law provisions. Exclusive jurisdiction and venue for any action arising under this Agreement is in the federal and state courts located in the Northern District of
California, and both parties hereby consent to such jurisdiction and venue for this purpose. In any action or proceeding to enforce this Agreement, the prevailing party will be entitled to recover from the other party its costs and expenses
(including reasonable attorneys’ fees) incurred in connection with such action or proceeding and enforcing any judgment or order obtained. 

c. Remedies. Consultant acknowledges and agrees that in the event of any breach or threatened breach of Section 2 or 3,
Company will suffer irreparable damage for which it will have no adequate remedy at law. Accordingly, Company shall be entitled to injunctive and other equitable remedies to prevent or restrain, temporarily or permanently, such breach or threatened
breach, without the necessity of proving actual damages or posting any bond or surety, in addition to any other remedy that Company may have at law or in equity. 

d. Notice. Any notice required or permitted to be given hereunder will be effective upon receipt and shall be given in writing, in
English and delivered in person, via established express courier service (with confirmation of receipt), confirmed facsimile or registered or certified mail, postage prepaid, return receipt requested, to the parties at their respective addresses
given herein or at such other address designated by written notice. 
 e. Assignment. This Agreement and the performance
contemplated hereunder are personal to Consultant and Consultant shall not have the right or ability to subcontract, delegate, assign or otherwise transfer any rights or obligations under this Agreement without the prior written consent of Company.
Any attempt to do otherwise shall be void and of no effect. Company may transfer this Agreement without the consent of Consultant. This Agreement will be binding upon, and inure to the benefit of, the successors, representatives and permitted
assigns of the parties. 
 f. Miscellaneous. This Agreement constitutes the entire agreement, and supersedes all prior
negotiations, understandings or agreements (oral or written), between the parties concerning the subject matter of this Agreement (and all past dealing or industry custom). Headings are for convenience of reference only and shall in no way affect
interpretation of the Agreement. This Agreement may be executed in one or more counterparts, each of which is an original, but taken together constituting one and the same instrument. Execution of a facsimile copy shall have the same force and
effect as execution of an original, and a facsimile signature shall be deemed an original and valid signature. No change, consent or waiver to this Agreement will be effective unless in writing and signed by the party against which enforcement is
sought. The failure of a party to enforce its rights under this Agreement at any time for any period will not be construed as a waiver of such rights. Unless expressly provided otherwise, each right and remedy in this Agreement is in addition to any
other right or remedy, at law or in equity, and the exercise of one right or remedy will not be deemed a waiver of any other right or remedy. In the event that any provision of this Agreement is determined to be illegal or unenforceable, that
provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect and enforceable. 

  
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 IN WITNESS WHEREOF, intending to be legally bound, the parties have executed this Agreement as an
instrument under seal as of the Effective Date. 
  

			
	CONSULTANT
		
	By:	 	 /s/ Carol L. Brosgart, M.D.

		 	Name: Carol L. Brosgart, M.D.
	
	TOBIRA THERAPEUTICS, INC.
		
	By:	 	 /s/ Laurent Fischer

		 	Name: Laurent Fischer
		 	Title: President & Chief Executive Officer

  
 Page 4EX-10.24

 Exhibit 10.24 

TOBIRA THERAPEUTICS, INC. 

MANAGEMENT CASH INCENTIVE PLAN 

(AS ADOPTED EFFECTIVE JULY 15, 2014) 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 ARTICLE 1.
	  	BACKGROUND AND PURPOSE	  	 	1	  
	 1.1
	  	Effective Date	  	 	1	  
	 1.2
	  	Purpose of the Plan	  	 	1	  
			
	 ARTICLE 2.
	  	DEFINITIONS	  	 	1	  
			
	 ARTICLE 3.
	  	SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS	  	 	3	  
	 3.1
	  	Selection of Participants	  	 	3	  
	 3.2
	  	Determination of Performance Goals	  	 	3	  
	 3.3
	  	Determination of Target Awards	  	 	3	  
	 3.4
	  	Determination of Payout Formula or Formulae	  	 	3	  
	 3.5
	  	Determination of Actual Awards	  	 	3	  
	 3.6
	  	Adjustments	  	 	4	  
			
	 ARTICLE 4.
	  	PAYMENT OF AWARDS	  	 	4	  
	 4.1
	  	Right to Receive Payment	  	 	4	  
	 4.2
	  	Timing of Payment	  	 	4	  
	 4.3
	  	Form of Payment	  	 	4	  
	 4.4
	  	Payment in the Event of Death	  	 	4	  
			
	 ARTICLE 5.
	  	ADMINISTRATION	  	 	4	  
	 5.1
	  	Committee Authority	  	 	4	  
	 5.2
	  	Decisions Binding	  	 	5	  
	 5.3
	  	Delegation by the Committee	  	 	5	  
			
	 ARTICLE 6.
	  	GENERAL PROVISIONS	  	 	5	  
	 6.1
	  	Tax Withholding	  	 	5	  
	 6.2
	  	No Effect on Employment	  	 	5	  
	 6.3
	  	No Effect on Other Benefits	  	 	5	  
	 6.4
	  	Successors	  	 	5	  
	 6.5
	  	Nontransferability of Awards	  	 	5	  
			
	 ARTICLE 7.
	  	DURATION, AMENDMENT AND TERMINATION	  	 	5	  
	 7.1
	  	Duration of the Plan	  	 	5	  
	 7.2
	  	Amendment, Suspension or Termination	  	 	6	  
			
	 ARTICLE 8.
	  	LEGAL CONSTRUCTION	  	 	6	  
	 8.1
	  	Severability	  	 	6	  
	 8.2
	  	Requirements of Law	  	 	6	  
	 8.3
	  	Governing Law	  	 	6	  
	 8.4
	  	Captions	  	 	6	  
		
	 Appendix A Performance Metrics
	  	 	7	  

  
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 TOBIRA THERAPEUTICS, INC. 

MANAGEMENT CASH INCENTIVE PLAN 

ARTICLE 1. BACKGROUND AND PURPOSE 

1.1 Effective Date. The Plan was adopted by the Committee on the date set forth above, is effective immediately and is not subject to
approval by the Company’s stockholders. 
 1.2 Purpose of the Plan. The Plan is intended to motivate Participants to achieve
excellent short- and long-term financial performance for the Company and its business units. The Plan provides Participants with the opportunity to earn cash incentive awards for the achievement of goals relating to the performance of the Company.

 ARTICLE 2. DEFINITIONS 

The following words and phrases shall have the following meanings, unless a different meaning is plainly required by the context: 

2.1 “Actual Award” means, as to any Performance Period, the actual award (if any) payable to a Participant for the
Performance Period. Each Actual Award is determined by the Payout Formula for the Performance Period, subject to the Committee’s authority under Section 3.5 to increase, eliminate or reduce the award otherwise indicated by the Payout
Formula. 
 2.2 “Affiliate” means any corporation or other entity (including, without limitation, partnerships and joint
ventures) controlled by the Company. 
 2.3 “Base Salary” means, as to any Performance Period, the Participant’s
earned salary during the Performance Period. Base Salary shall be calculated before both (a) deductions for taxes or benefits and (b) deferrals of compensation pursuant to Company-sponsored plans or Affiliate-sponsored plans. 

2.4 “Board” means the Company’s Board of Directors. 

2.5 “Committee” means the Compensation Committee of the Board. 

2.6 “Company” means Tobira Therapeutics, Inc., a Delaware corporation, or any successor thereto. 

2.7 “Disability” means a permanent disability, as determined for purposes of the principal long-term disability insurance
plan maintained by the Company for the benefit of the Participant. If there is no such plan, Disability shall be determined in accordance with a policy established by the Committee. 

 2.8 “Employee” means any employee of the Company or of an Affiliate, whether
such employee is so employed when the Plan is adopted or becomes so employed after the adoption of the Plan. 
 2.9 “Fiscal
Quarter” means a fiscal quarter within a Fiscal Year of the Company. 
 2.10 “Fiscal Year” means the fiscal year
of the Company. 
 2.11 “Participant” means, as to any Performance Period, an Employee who has been selected for
participation in the Plan for that Performance Period pursuant to Section 3.1. 
 2.12 “Payout Formula” means, as to
any Performance Period, the formula or payout matrix established by the Committee pursuant to Section 3.4 in order to determine the Actual Awards (if any) to be paid to Participants. The formula or matrix may differ from Participant to
Participant. 
 2.13 “Performance Period” means a Fiscal Year, or any longer or shorter period determined by the Committee.

 2.14 “Performance Goals” means the goal(s) determined by the Committee to be applicable to a Participant for a Target
Award for a Performance Period. As determined by the Committee, the Performance Goal(s) may provide for a targeted level or levels of achievement using the performance criteria specified by the Committee. Such criteria shall be based on one or more
of the performance metrics set forth in Appendix A attached to the Plan. 
 2.15 “Plan” means this Tobira
Therapeutics, Inc. Management Cash Incentive Plan, as set forth in this instrument and as hereafter amended from time to time. 
 2.16
“Progress Payment” means a portion of the Target Award or Actual Award determined in accordance with Section 3.5 that has been earned by the Participant as of the end of the Progress Period, based on achievement of the
applicable Performance Goals, and that may be paid to the Participant during the Performance Period. 
 2.17 “Progress
Period” means a period shorter than and within the Performance Period for which a Progress Payment may be made. 
 2.18
“Retirement” means, with respect to any Participant, a Termination of Employment occurring in accordance with a policy or policies established by the Committee from time to time. 

2.19 “Target Award” means the target award payable under the Plan to a Participant for the Performance Period or Progress
Period, as applicable, expressed as a percentage of his or her Base Salary or a specific dollar amount, as determined by the Committee in accordance with Section 3.3. 

  
 2 

 2.20 “Termination of Employment” means a cessation of the employee-employer
relationship between an Employee and the Company or an Affiliate for any reason, including (without limitation) a termination by resignation, discharge, death, Disability, Retirement or the disaffiliation of an Affiliate, but excluding a transfer
from the Company to an Affiliate or between Affiliates. 
 ARTICLE 3. SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS 

3.1 Selection of Participants. The Committee shall select the Employees who shall be Participants for any Performance Period. The
Committee also may designate as Participants one or more individuals (by name or position) who are expected to become Employees during a Performance Period. Participation in the Plan is in the sole discretion of the Committee and shall be determined
Performance Period by Performance Period. Accordingly, an Employee who is a Participant for a given Performance Period is in no way assured of being selected for participation in any subsequent Performance Period. 

3.2 Determination of Performance Goals. The Committee shall establish the Performance Goals for each Participant for the
Performance Period. Such Performance Goals shall be set forth in writing and shall be based on one or more of the performance metrics set forth in Appendix A attached to the Plan. Any criteria used may be measured (a) in absolute
terms, (b) in relative terms, including (without limitation) the passage of time and/or against other companies or metrics, (c) on a per-share basis, (d) against the performance of the Company as a whole or against particular segments
or products of the Company and/or (e) on a pre-tax or after-tax basis. Any Performance Goal may be measured on a basis other than generally accepted accounting principles. 

3.3 Determination of Target Awards. The Committee shall establish a Target Award for each Participant for each Performance Period. Such
Target Award shall be set forth in writing. 
 3.4 Determination of Payout Formula or Formulae. The Committee shall establish a
Payout Formula or Formulae for purposes of determining the Actual Award (if any) payable to each Participant. Each Payout Formula shall (a) be in writing, (b) be based on a comparison of actual performance to the Performance Goals,
(c) provide for the payment of a Participant’s Target Award if the Performance Goals for the Performance Period are achieved at the predetermined level and (d) provide for the payment of an Actual Award greater than or less than the
Participant’s Target Award, depending upon the extent to which actual performance exceeds or falls below the Performance Goals. 

3.5 Determination of Actual Awards. After the end of each Performance Period or, to the extent that Progress Payments will be made,
after the end of each Progress Period, the Committee shall certify the extent to which the Performance Goals applicable to each Participant for the Performance Period or Progress Period, as applicable, were achieved or exceeded, as determined by the
Committee. The Actual Award for each Participant shall be determined by applying the Payout Formula to the level of actual performance that has been certified by the Committee. Any contrary provision of the Plan notwithstanding, the Committee 

  
 3 

 
may (a) reduce or eliminate the Actual Award that otherwise would be payable under the Payout Formula or (b) determine whether or not any Participant will receive an Actual Award or
Progress Payment in the event that the Participant incurs a Termination of Employment before such Actual Award or Progress Payment is to be paid pursuant to Section 4.2. 

3.6 Adjustments. The Committee may adjust the results under any Performance Goal to exclude any of the following events that occurs
during a Performance Period: (a) asset write-downs, (b) litigation, claims, judgments or settlements, (c) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results,
(d) accruals for reorganization and restructuring programs, (e) mergers or acquisitions and (f) any other extraordinary, unusual or non-recurring items. 

ARTICLE 4. PAYMENT OF AWARDS 

4.1 Right to Receive Payment. Each Actual Award or Progress Payment that may become payable under the Plan shall be paid solely from
the general assets of the Company or the Affiliate that employs the Participant (as the case may be), as determined by the Company. No amounts awarded or accrued under the Plan shall be funded, set aside or otherwise segregated prior to payment. The
obligation to pay Actual Awards or Progress Payments under the Plan shall at all times be an unfunded and unsecured obligation of the Company. Participants shall have the status of general creditors of the Company or the Affiliate that employs the
Participant. 
 4.2 Timing of Payment. Subject to Section 3.5, payment of each Actual Award or Progress Payment shall be made as
soon as administratively practicable, but in no event later than two and one-half months after the end of the applicable Performance Period or Progress Period, as the case may be. 

4.3 Form of Payment. Each Actual Award or Progress Payment shall be paid in cash (or its equivalent) in a single lump sum. 

4.4 Payment in the Event of Death. If a Participant dies before receiving an Actual Award or Progress Payment (determined under
Section 3.5) that was scheduled to be paid before his or her death for a prior Performance Period or Progress Period, then the Actual Award or Progress Payment shall be paid to the Participant’s designated beneficiary or, if no beneficiary
has been designated, to the administrator or representative of his or her estate. Any beneficiary designation or revocation of a prior designation shall be effective only if it is in writing, signed by the Participant and received by the Company
prior to the Participant’s death. 
 ARTICLE 5. ADMINISTRATION 

5.1 Committee Authority. The Plan shall be administered by the Committee, subject to Section 5.3. The Committee shall have all
powers and discretion necessary or appropriate to administer the Plan and to control its operation, including (without limitation) the power to (a) determine which Employees shall be granted awards, (b) prescribe the terms and conditions
of the awards, (c) interpret the Plan, (d) adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign nationals or employed outside of the United States,
(e) adopt rules for the administration, interpretation and application of the Plan and (f) interpret, amend or revoke any such rules. 

  
 4 

 5.2 Decisions Binding. All determinations and decisions made by the Committee, the Board
or any delegate of the Committee pursuant to the provisions of the Plan shall be final, conclusive and binding on all persons and shall be given the maximum deference permitted by law. 

5.3 Delegation by the Committee. The Committee, on such terms and conditions as it may provide, may delegate all or part of its
authority and powers under the Plan to one or more directors and/or employees of the Company. 
 ARTICLE 6. GENERAL PROVISIONS 

6.1 Tax Withholding. The Company or an Affiliate, as applicable, shall withhold all required taxes from an Actual Award or Progress
Payment, including any federal, state, local or other taxes. 
 6.2 No Effect on Employment. Nothing in the Plan shall interfere with
or limit in any way the right of the Company or an Affiliate, as applicable, to terminate any Participant’s employment or service at any time, with or without cause. Employment with the Company and its Affiliates is on an at-will basis only.
The Company expressly reserves the right, which may be exercised at any time and without regard to when during or after a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him
or her without regard to the effect that such treatment might have upon him or her as a Participant. 
 6.3 No Effect on Other
Benefits. Except as expressly set forth in a Participant’s employment agreement with the Company, any Actual Awards or Progress Payments under the Plan shall not be considered for the purpose of calculating any other benefits to which such
Participant may be entitled, including (a) any termination, severance, redundancy or end-of-service payments, (b) other bonuses or long-service awards, (c) overtime premiums, (d) pension or retirement benefits or (e) future
Base Pay or any other payment to be made by the Company to such Participant. 
 6.4 Successors. All obligations of the Company and
any Affiliate under the Plan, with respect to awards granted hereunder, shall be binding on any successor to the Company and/or such Affiliate, whether the existence of such successor is the result of a merger, consolidation, direct or indirect
purchase of all or substantially all of the business or assets of the Company or such Affiliate, or any similar transaction. 
 6.5
Nontransferability of Awards. No award granted under the Plan shall be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution or to the limited extent provided in
Section 4.4. All rights with respect to an award granted to a Participant shall be available during his or her lifetime only to the Participant. 

ARTICLE 7. DURATION, AMENDMENT AND TERMINATION 

7.1 Duration of the Plan. The Plan shall commence on the date specified herein and shall remain in effect thereafter until terminated
pursuant to Section 7.2. 

  
 5 

 7.2 Amendment, Suspension or Termination. The Board or the Committee may amend, suspend or
terminate the Plan, or any part thereof, at any time and for any reason. No award may be granted during any period of suspension or after termination of the Plan. 

ARTICLE 8. LEGAL CONSTRUCTION 

8.1 Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity
shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included. 

8.2 Requirements of Law. The granting of awards under the Plan shall be subject to all applicable laws, rules and regulations, and to
such approvals by any governmental agencies or national securities markets as may be required. 
 8.3 Governing Law. The Plan and all
awards shall be construed in accordance with and governed by the laws of the State of California, without regard to their conflict-of-law provisions. 

8.4 Captions. Captions are provided herein for convenience only and shall not serve as a basis for interpretation or construction of
the Plan. 

  
 6 

 APPENDIX A 

PERFORMANCE METRICS 

The Committee may establish Performance Goals derived from the following metrics: 
  

	 	•	 	Bookings (including annual or total contract value bookings) 

  

	 	•	 	Cash and short-term investments 

  

	 	•	 	Cash flow return on investment 

  

	 	•	 	Comparisons with various stock market indices 

  

	 	•	 	Corporate transactions including partnerships, licenses, or mergers and acquisitions 

  

	 	•	 	Customer satisfaction 

  

	 	•	 	Deferred revenue 

  

	 	•	 	Earnings or earnings per share (including earnings before taxes, earnings before interest and taxes or earnings before interest, taxes, depreciation and amortization) 

 

	 	•	 	Expenses or expense reductions 

  

	 	•	 	Free cash flow or free cash flow per share 

  

	 	•	 	Gross profits 

  

	 	•	 	Headcount 

  

	 	•	 	Implementation, completion or attainment of measurable objectives or milestones with respect to research, development, products, projects or recruiting and maintaining personnel 

 

	 	•	 	Market share 

  

	 	•	 	Net income (before or after taxes) 

  

	 	•	 	Operating margin or cash margin 

  

	 	•	 	Operating profit/loss (on a GAAP or non-GAAP basis) 

  

	 	•	 	Pre- or after-tax income (before or after allocation of corporate overhead and bonus) 

  

	 	•	 	Reductions in costs 

  

	 	•	 	Return on equity 

  

	 	•	 	Revenue 

  

	 	•	 	Stock price 

  

	 	•	 	Total expenses 

  

	 	•	 	Total stockholder return 

  

	 	•	 	Working capital 

  

	 	•	 	Increases or growth in any of the foregoing 

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00233-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00233-of-00352.parquet"}]]