SEC Contract Filing

Filing Date: 2020-08-19

Document Content:
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<TYPE>EX-10.1
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<FILENAME>fate-ex101_24.htm
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3535 General Atomics Court, Suite 200 &#8226; San Diego, CA 92121 &#8226; 858.875.1800 Office &#8226; 858.875.1843 Fax &#8226; www.fatetherapeutics.com</p>
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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dear Ed,</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Fate Therapeutics, Inc. (&#8220;Fate&#8221; or the &#8220;Company&#8221;) is pleased to offer you an exempt full-time position as Chief Financial Officer, reporting to the Company&#8217;s President &amp; Chief Executive Officer. This position has an anticipated start date of August 24, 2020 (&#8220;Start Date&#8221;), and requires that you provide full-time services at the Company&#8217;s corporate headquarters in San Diego, California during the Company&#8217;s business days of operation.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">While you render services to the Company, you will not engage in any other employment, consulting or other business activity other than for charitable purposes (whether full-time or part-time) unless approved in advance in writing by the Company&#8217;s Chief Executive Officer. By signing this Letter Agreement, you confirm to Fate that you have reviewed the duties and responsibilities of this position, and that you are not subject to any contractual commitments or other legal obligations that would prohibit you from performing your duties for Fate.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In consideration of your employment, you will be paid at an annualized base salary rate of $390,000.00 (&#8220;Base Salary&#8221;), less applicable withholding, to be paid on Fate&#8217;s regularly scheduled payroll dates, which currently are every two weeks. Your Base Salary shall be reviewed by the Company periodically, but at least on an annual basis, for adjustment.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:11pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Subject to approval by our Board of Directors, you will be granted a non-qualified option to purchase 160,000 shares of the Company&#8217;s common stock at an exercise price equal to the closing price per share of the Company&#8217;s common stock as reported on NASDAQ on your Start Date (the &#8220;Option&#8221;). The Option will vest and become exercisable in accordance with the following schedule: twenty-five percent (25%) of the shares shall vest and become exercisable on the first anniversary of your Start Date, and 1/48th of the shares shall vest and become exercisable monthly thereafter so that one hundred percent (100%) of the shares shall be vested and exercisable on the fourth anniversary of your Start Date, subject to your continued employment with the Company. The Option will be granted pursuant to a stock option agreement which you will be required to sign as a condition of receiving the Option.</p>
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