SEC Contract Filing

Filing Date: 2019-05-10

Document Content:
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<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>G<SMALL>LOBAL</SMALL> B<SMALL>LOOD</SMALL> T<SMALL>HERAPEUTICS</SMALL>, I<SMALL>NC</SMALL>. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">400 E<SMALL>AST</SMALL> J<SMALL>AMIE</SMALL> C<SMALL>OURT</SMALL>, S<SMALL>UITE</SMALL> 101 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>OUTH</SMALL> S<SMALL>AN</SMALL> F<SMALL>RANCISCO</SMALL>, CA 94080 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;16,<SUP STYLE="font-size:85%; vertical-align:top"> </SUP>2015 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jung Choi </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Jung, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Global Blood Therapeutics, Inc. (the &#147;Company&#148;) is pleased to offer you employment on the following terms: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. &nbsp;&nbsp;&nbsp;&nbsp;<B> Position</B>. Your initial title will be Chief Business and Strategy Officer, and you will initially report to Ted Love. This is
a full-time position. While you render services to the Company, you will not engage in any other employment, consulting or other business activity (whether full-time or part-time) that would create a conflict of interest with the Company. By signing
this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2. &nbsp;&nbsp;&nbsp;&nbsp;<B> Cash Compensation</B>. The Company will pay you a starting salary at the rate of $350,000 per year, payable in accordance with
the Company&#146;s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company&#146;s employee compensation policies in effect from time to time. In addition to your salary, you will be eligible to participate in the
Annual Performance-Based Cash Incentive Award Program which is based on the achievement of Company performance goals and your personal goals to be set with your manager. Your initial bonus benchmark will be 25% of your annual base salary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3. &nbsp;&nbsp;&nbsp;&nbsp;<B> Employee Benefits</B>. As a regular employee of the Company, you will be eligible to participate in a number of
Company-sponsored benefits.&nbsp;Should you decide to participate in the Company health benefits program, your coverage will begin the first day of the month following your start date. In addition, you will be entitled to 20 days of paid time off in
accordance with the Company&#146;s policy. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4. &nbsp;&nbsp;&nbsp;&nbsp;<B> Stock Options</B>. Subject to the approval of the Company&#146;s Board of
Directors or its Compensation Committee, you will be granted an option to purchase 500,000 shares of the Company&#146;s Common Stock. The exercise price per share will be determined by the Board of Directors or the Compensation Committee when the
option is granted. The option will be subject to the terms and conditions applicable to options granted under the Company&#146;s 2012 Stock Plan (the &#147;Plan&#148;), as described in the Plan and the applicable stock option agreement. You will
vest in 25% of the option shares after 12 months of continuous service, and the balance will vest in equal quarterly installments over the next 36 months of continuous service, as described in the applicable stock option agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">5. &nbsp;&nbsp;&nbsp;&nbsp;<B> Employee Confidentiality and Assignment Agreement.</B> Like all Company employees, you will be required, as a condition of your
employment with the Company, to sign the Company&#146;s standard Employee Confidentiality and Assignment Agreement, a copy of which is attached hereto as <B>Exhibit</B><B></B><B>&nbsp;A</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">6. &nbsp;&nbsp;&nbsp;&nbsp;<B> Background Check</B>. The Company may conduct a background or reference check (or both). If so, then you agree to cooperate
fully in those procedures, and this offer is subject to the Company&#146;s approving the outcome of those checks, in the discretion of the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7.
&nbsp;&nbsp;&nbsp;&nbsp;<B> Employment Relationship</B>. Employment with the Company is for no specific period of time. Your employment with the Company will be &#147;at will,&#148; meaning that either you or the Company may terminate your
employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is the full and complete agreement between yo