SEC Contract Filing

Filing Date: 2022-03-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.26
<SEQUENCE>3
<FILENAME>tmb-20211231xex10d26.htm
<DESCRIPTION>EX-10.26
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 3/7/2022 11:47:14 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><a name="_Hlk90375407"></a><b style="font-weight:bold;">Exhibit 10.26</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">AMENDED AND RESTATED EMPLOYMENT AGREEMENT </b>&#160;</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">This Amended and Restated Employment Agreement (&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Agreement</u>&#8221;) between James R. Neal (&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Employee</u>&#8221;) and XOMA Corporation (&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">XOMA</u>&#8221; or the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Company</u>&#8221;) (collectively, the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Parties</u>&#8221;) is effective as of December 15, 2021 (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Agreement Effective Date</u>&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Preamble:</p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">XOMA wishes to enter into this Agreement to assure the continued services of Employee for a period until a new CEO is hired or until December 31, 2022, whichever occurs first; and</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">Employee is willing to enter into this Agreement and to serve in the employ of XOMA upon the terms and conditions hereinafter provided;</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:12pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-style:normal;font-weight:normal;text-align:justify;">NOW, THEREFORE, in consideration of the mutual covenants herein contained, the Parties agree as follows:&#160;</font></td></tr></table><div style="margin-top:12pt;"></div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:12pt;margin-left:0pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';font-size:11.5pt;min-width:18pt;text-indent:0pt;white-space:nowrap;">1.</font><u style="text-decoration:underline;text-decoration-color:#000000;">Employment</u>. &#160;Employee is currently employed with XOMA in the position of Chief Executive Officer (&#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">CEO</u>&#8221;). &#160;Employee will continue to serve in this role until the Company hires a new CEO. &#160;Upon the hiring of a new CEO, the Board of Directors (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Board</u>&#8221;) will determine Employee&#8217;s employment termination date (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Separation Date</u>&#8221;), at which time Employee&#8217;s employment with the Company will cease. &#160;If the Company has not hired a new CEO as of January 1, 2023, then such date will become Employee&#8217;s Separation Date, unless the Parties mutually agree in writing to a different Separation Date. &#160;Employee&#8217;s terms of employment between the Agreement Effective Date and the Separation Date (the &#8220;<u style="text-decoration:underline;text-decoration-color:#000000;">Transition Period</u>&#8221;) will be governed by the terms of this Agreement, which shall supersede and replace, in entirety, the Officer Employment Agreement between Employee and the Company dated August 7,