Document:

EX-10.9.2

 Exhibit 10.9.2 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM
TO THE REGISTRANT IF PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 
 February 23, 2020 

Mr. Scott Hutton 
 [***] 

[***] 
 Dear Scott: 

This letter updates and revises your offer letter of February 16, 2018. 

This confirms that effective January 1, 2020 you were appointed as the Chief Executive Officer of the Company and were also added to the Board of
Directors. 
 Compensation: Your base salary was raised on January 1, 2020 to $29,166.66 per month, or $350,000 annualized, less all deductions
and withholdings. Pursuant to recent discussions, effective the beginning of the first month after a successful IPO, your salary will be further adjusted to $35,416.66 per month or $425,000 annually. The Company may modify your compensation from
time to time in its sole discretion. 
 Bonus: Also, effective with the raise in the base salary, and
pro-rated for the period through the end of the year, following the afore mentioned IPO your bonus potential, as outlined in the original agreement, will be raised to 100% of your base salary from the current
level of 50%. Consistent with the previous offer letter, such bonus, if any, will be paid after the close of the Company’s financial year, after validation and approval from the Company’s Compensation Committee and Board of Directors that
relevant objectives have been achieved, and provided the Company has the financial wherewithal to pay. To be eligible for any Bonus, you must be employed by the Company at the time any Bonus amount is to be paid. Bonuses are not earned until they
are approved in writing by the Board of Directors of the Company. 
 Termination of Employment: You and Biodesix each acknowledge that either party
has the right to terminate your employment with Biodesix at any time for any reason whatsoever, with or without cause or advance notice, subject only to the following: 

a. Resignation, Termination for Cause or due to Death or Disability. In the event you resign your employment with Biodesix, or your
employment is terminated by Biodesix for Cause or due to death or disability, the Company’s obligation to make payments hereunder shall cease, except that the Company shall pay you or, as applicable, your heirs or assigns, any salary earned but
unpaid prior to such termination, any reimbursable business expenses that were incurred but not reimbursed as of the date of your last day of employment, and, if applicable, all accrued but unused vacation. Vesting of any unvested stock options or
other equity securities shall cease on your last date of employment. 

 

 
  

 b. Termination by the Company without Cause. If your employment with the Company is
terminated by the Company without Cause, including but not limited to a termination following a Change in Control (as defined in the Company’s 2016 Equity Incentive Plan) or, following a Change in Control, subject to your compliance with the
obligations set forth below, you will receive the following Severance Benefits: (i) Severance Payments. Base salary continuation for a period of twelve months following the effective date of the Release (the “Severance
Payments”), less standard deductions and withholdings; and (ii) Annual Bonus Paid at Target Level (100% of Base) as established by the Compensation Committee of the Board of Directors in the variable compensation plan for the year
in which the termination occurs less applicable withholdings. Such amount will be paid in a single lump-sum on the Company’s first regular payroll date following the effective date of the Release.
(iii) COBRA Reimbursement. If you timely elect continued coverage under COBRA, the Company will pay your COBRA premiums to continue your coverage (including coverage for your eligible dependents, if applicable) (“COBRA
Premiums”) through the period starting on the termination date and ending twelve months after the termination date (the “COBRA Premium Period”); provided, however, that the Company’s provision of such COBRA Premium benefits
will immediately cease if during the COBRA Premium Period you become eligible for group health insurance coverage through a new employer or you cease to be eligible for COBRA continuation coverage for any reason, including plan termination.
Furthermore, any Change of Control which results in a change of position will trigger the accelerated vesting of 100% of the options then granted to you. 

c. Release Requirement. The Severance Benefits are conditional upon (a) you delivering to the Company and making effective an irrevocable a
general release of all claims in favor of the Company, in a form reasonably acceptable to the Company (the “Release”), which release shall be effective not later than 45 days following the date of the applicable termination or
resignation; and (b) your continued compliance with the Release including any cooperation, non-disparagement or confidentiality provisions contained therein and continuing to comply with your obligations
under the CIIA, including non-solicit provisions thereof. 
 d. Cause. As used in this Agreement,
“Cause” means the occurrence of one or more of the following: (a) failure to perform your assigned duties or responsibilities as a service provider which continues beyond thirty (30) days after a written demand for
substantial performance is delivered to you by the Company; (b) engaging in any act of dishonesty, fraud or misrepresentation that has caused, might reasonably have been expected to cause, or is reasonably likely to cause in the future,
material harm to the Company, including material reputational harm to the Company; (c) violation of any federal or state law or regulation applicable to the business of the Company or its affiliates and such violation has caused, might
reasonably have been expected to cause, or is reasonably likely to cause in the future, material harm to the Company; (d) material breach of any confidentiality agreement or invention assignment agreement between you and the Company (or any
affiliate of the Company); or (e) being charged by a law enforcement agency with any felony. 
 Code 409A Compliance. To the extent any payments
or benefits pursuant to this offer letter Agreement are paid from the date of termination of your employment through March 15 of the 

  
 Biodesix, Inc. • 2970 Wilderness
Place, Suite 100 • Boulder, CO • Office 303 417 0500 Fax 303 417 9700 www.biodesix.com 

 

 
  

 
calendar year following such termination, such Severance Payments are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2)
of the Treasury Regulations and thus payable pursuant to the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations, (b) are paid following said
March 15, such Severance Payments are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations made upon an involuntary separation from service and
payable pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations, to the maximum extent permitted by said provision, (c) represent the reimbursement or payment of costs for outplacement
services, such payments are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations and to qualify for the exception from deferred compensation pursuant
to Section 1.409A-1(b)(9)(v)(A), and (d) are in excess of the amounts specified above, such Severance Payments shall (unless otherwise exempt under Treasury Regulations) be considered separate
payments subject to the distribution requirements of Section 409A(a)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), including the requirement of Section 409A(a)(2)(B)(i) of the Code that payments or benefits
be delayed until 6 months after your separation from service if you are a “specified employee” within the meaning of such section of the Code at the time of such separation from service. In the event that a six month delay of any such
separation payments or benefits is required, on the first regularly scheduled pay date following the conclusion of the delay period, you shall receive a lump sum payment or benefit in an amount equal to the separation payments and benefits that were
so delayed, and any remaining separation payments or benefits shall be paid on the same basis and at the same time as otherwise specified pursuant to this Agreement (subject to applicable tax withholdings and deductions). 

Miscellaneous: This letter states updates the terms and conditions of your employment and modifies the initial offer letter dated February 16,
2018 and attached here as Attachment A. All terms from the previous Letter not otherwise modified herein (or in the normal course pursuant to the terms) remain in full force and effect. In the event of any disagreement between the two letters, this
letter will prevail. 
  

	
	Sincerely,
	
	/s/ David Brunel
	
	 David Brunel
 Chairman

  
 Biodesix, Inc. • 2970 Wilderness
Place, Suite 100 • Boulder, CO • Office 303 417 0500 Fax 303 417 9700 www.biodesix.comEX-10.10.1

 Exhibit 10.10.1 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO
THE REGISTRANT IF PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 
  
 

 
 March 11, 2011 
 Robin
Cowie 
 [***] 
 [***] 

Dear Robin: 
 It is my pleasure to offer you the position of
Director of Reimbursement at Biodesix, Inc. (“Biodesix” or the “Company”) beginning on March 28, 2011. As Director of Reimbursement you will be reporting to Doug Swan, who will be primarily responsible for
evaluating your performance. The Director of Reimbursement ensures payer coverage and payment policies are established with third party payers, including commercial, federal and state programs. This director will negotiate coverage policies and
appropriate payment levels for all products directly with medical directors/key decision makers at Medicare, BCBS, other MCO’s and other commercial payers. The Director will assist in the development and refinement of reimbursement strategies
and tactics to attain these goals and will also manage a Hot Line and billing Collections service which is currently outsourced. You will work primarily from our Broomfield facility. The Company may change your position, title, duties, and place of
employment from time to time as it deems necessary. 
 This letter and the accompanying enclosures state the complete terms and conditions of your offer.
This offer will expire if not accepted within two weeks of the date of this letter, shown above. 
 Our benefits, payroll, and other human resource
management services are provided through TriNet Employer Group. Inc., a professional employer organization. As a result of Biodesix’s arrangement with TriNet, TriNet will be considered your employer of record for these purposes, and your
managers at Biodesix will be responsible for directing your work, reviewing your performance. and setting your schedule at Biodesix. 
 Compensation:
Your base salary will be $14,583.33 per month, or $175,000 annualized, less all deductions and withholdings. Salaries are paid twice per month. The Company may modify your compensation from time to time in its sole discretion. 

Subject to the approval of the Board of Directors of the Company, you may be eligible to receive an option to purchase 15,000 shares of common stock at an
exercise price per share equal to the 

 

 
  

 
fair market value of the Company’s common stock as determined by the Board on the date the Board approves and grants such option (“Option”). The vesting schedule and all
terms, conditions, and limitations of the Option will be set forth in a stock option grant notice, the Company’s standard stock option agreement and the Company’s 2006 Employee, Director and Consultant Stock Plan, as amended. 

Bonus: You have the potential of achieving a bonus of up to 15% of your base salary (as actually paid in a given year) if you achieve certain
milestones and objectives determined by the Company. Such bonus, if any, will be paid after the close of the Company’s financial year, after validation and approval from the Company’s Board of Directors that relevant objectives have been
achieved, and provided the Company has the financial wherewithal to pay. To be eligible for any Bonus, you must have begun your employment with the Company on or before September 30 of the year for which the Bonus is awarded, and you must be
employed by the Company at the time any Bonus amount is to be paid. Bonuses are not earned until they are approved in writing by the Board of Directors of the Company. 

Benefits: Upon acceptance of full-time employment, you will also be eligible to receive the same benefits available to all US employees of the Company
which include vacation and sick leave, health insurance, dental insurance, a vision plan, and any other benefit plans offered by the Company. Full-time employees are entitled to 8 days of sick leave per year, which you will be eligible to use
commencing with your first day of employment at the Company. Your annual vacation will be 15 days per year, which will accrue upon commencement of employment. If any sick days are unused at the end of the year they will not carry over to the
following year. Vacations must be scheduled in consultation with your supervisor in order to minimize the disruption to the Company’s business. In general, one week’s notice should be provided for each day off requested. The Company may
modify your benefits from time to time in its sole discretion. 
 Confidentiality and Inventions Assignment Agreement: One of the conditions of your
employment with the Company is the maintenance of the confidentiality of the Company’s proprietary and confidential information. 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 that 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 also should not bring onto the Company premises any unpublished documents or property
belonging to any former employer or other person to whom you have an obligation of confidentiality. During our discussions about your proposed job duties, you assured us that you would be able to perform those duties within the guidelines described
above. Before your start date, you must therefore execute the Company’s Confidentiality and Inventions Assignment Agreement, which you will find attached hereto as Attachment A. However, your commencement of employment shall constitute
acceptance of all the terms and conditions in the Company’s Confidentiality and Inventions Assignment Agreement. 

  
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 Expenses. The company will reimburse you for reasonable and necessary expenses incurred by you in
furtherance of Biodesix’s business. All expenses claimed are subject to the review and approval of your supervisor. Records must be maintained and submitted for any expenses to be reimbursed, including destination for auto mileage totals and
receipts for all other items. Use of a personal automobile for company business will be reimbursed at the applicable IRS per-mile rate in effect. 

Company Property. During and after your employment, you will not use any Company Property (defined below) for any purpose other than for the benefit of
the Company. In the event of your termination of employment, or at any time at the request of the Company, you will return all Company Property. You will also return all copies of Company Property, and any work product derived from Company Property.

 “Company Property” means trade secrets of Biodesix, work product, customer lists, prospect lists. forms, manuals, records, correspondence,
contracts, notes, memoranda, notebooks and other documents of the Company, software media, equipment, and other intangible and tangible property owned by the Company. 

Name & Likeness Rights. You hereby authorize the Company to use, reuse, and to grant others the right to use and reuse your
name, Company-originated photograph, Company-originated voice recording, biographical information relevant to your professional status, and any reproduction or simulation thereof, in any media now known or hereafter developed (including but not
limited to film, video, and digital, or other electronic media), both during and after your employment. 

At-Will Employment. As Biodesix is the company for which you will perform service, we will retain the right to
control and direct your work, its results, and the manner and means by which your work is accomplished. Your employment with the Company is at will, and therefore, may be terminated by you or the Company at any time and for any reason, with or
without cause, and with or without notice. Any contrary representations or agreements, which may have been made to you, are superseded by this offer. The “at will” nature of your employment described in this offer letter shall constitute
the entire agreement between you and the Company concerning the nature and duration of your employment. In addition, the fact that the rate of your salary or other compensation is stated in units of years or months and that your vacation and sick
leave accrue annually or monthly does not alter the at-will nature of the employment, and does not mean and should not be interpreted to mean that you are guaranteed employment to the end of any period of time
or for any period time. The “at will” term of your employment with the Company can only be changed in writing and signed by you and the Chief Executive Officer of the Company. 

Exempt Employment. Normal working hours are from 8 a.m. to 5 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. 
 Additional Benefits. As stated above, Biodesix has
contracted with TriNet to provide payroll, benefits and HR administration services on behalf of Biodesix. Information about these benefits will be available on-line over the web on the terms and conditions
included in the End User License 

  
 3 

 

 
  

 
Agreement (EULA) each new employee must accept in order to access TriNet’s on-line self-service portal, HR Passport. 

Miscellaneous. This letter states the complete and exclusive terms and conditions of your employment and supersedes any and all prior agreements,
whether written or oral. By joining the Company, you are agreeing to abide by all laws and regulations, all Company policies and procedures, to acknowledge in writing that you have read the Company’s Employee Handbook and that you are bound by
the terms and conditions of the Company’s Confidentiality and Inventions Assignment Agreement. Violations of these policies may lead to immediate termination of employment. As required by law, this offer is subject to satisfactory proof of your
right to work in the United States. Further, this offer is contingent upon the completion of a background and security check. By accepting this offer below, you are hereby providing your approval of the Company’s efforts and activities in this
regard. 
 We look forward to having you join us at Biodesix. If you wish to accept this offer under the terms and conditions described above please sign
and date this letter and the attached Confidentiality and Inventions Assignment Agreement and return them to me. In addition, please bring the necessary documents required to verify your identity and eligibility to work in the United States on your
reporting date. A list of acceptable documents is described on the enclosed 1-9 form. Also, if you have not already done so, please complete the enclosed Application for Employment for our files and
submit it prior to your first day of work. 
 We are all excited about the opportunity to work with you. On behalf of all our team members, let me extend a
sincere Welcome Aboard! 
 Sincerely, 
 /s/ Frank Ronchelli

 Frank Ronchelli 
 Chief Financial Officer 

Enclosures: 1-9 Form, Application for Employment 

 
  
 I accept the above
terms of employment as stated: 
  

					
	/s/ Robin Harper Cowie	 		 	03/11/11
	Addressee’s Signature	 		 	Date

  
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