SEC Contract Filing

Filing Date: 2020-04-01

Document Content:
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<TYPE>EX-10.1
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<FILENAME>tm2014735d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

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 <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Applied
 Therapeutics Inc.</FONT></TD>
 <TD ROWSPAN="5" STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2014735d1_ex10-1img001.jpg" ALT="">&nbsp;</P>
 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
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 <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">340 Madison Avenue,
 19<SUP>th</SUP> Floor</FONT></TD></TR>
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 <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, NY 10173</FONT></TD></TR>
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 <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">212.220.9319</FONT></TD></TR>
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 <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.appliedtherapeutics.com</FONT></TD></TR>
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 &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #333333"><B>Chids Mahadevan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #333333"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Mr. Mahadevan:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">We are pleased to offer you full time employment
with Applied Therapeutics Inc. (the &ldquo;<U>Company</U>&rdquo;) under the terms set forth in this offer letter (the &ldquo;<U>Offer
Letter</U>&rdquo;), effective as of your start date with the Company. Your anticipated start date is December 2, 2019 or a date
to be mutually agreed upon (such actual date of your commencement of employment shall be referred to herein as the &ldquo;<U>Start
Date</U>&rdquo;).</P>

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<TD STYLE="width: 2.2pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Position; Duties</U>.</B>&nbsp; You will serve as the Company&rsquo;s Chief Accounting Officer
(&ldquo;<U>CAO</U>&rdquo;). During the term of your employment with the Company, you will devote your best efforts and substantially
all of your business time and attention to the business of the Company, except for approved vacation periods and reasonable periods
of illness or other incapacities permitted by the Company&rsquo;s general employment policies. You will report directly to the
Company&rsquo;s&nbsp;Chief Financial Officer (&ldquo;<U>CFO</U>&rdquo;) with a direct line of communication to the Company&rsquo;s
Chief Executive Officer (&ldquo;<U>CEO</U>&rdquo;).&nbsp; Your primary duties will be&nbsp;to direct accounting and financial operations,
oversee regulatory reporting and compliance and contribute other customary support that a CAO provides, as determined by the CEO
and CFO from time to time. &nbsp;By signing this Offer Letter, you confirm that you are under no contractual or other legal obligations
that would prohibit you from performing your duties with the Company upon your Start Date.<BR>
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<TD STYLE="width: 2.2pt"></TD><TD STYLE="width: 18pt">2.</TD><TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Base Salary</U>.</B> You will receive a starting base salary at a rate of $290,000 per year,
less standard payroll deductions and tax withholdings, which will be paid on the Company&rsquo;s ordinary payroll cycle. Your base
salary will be reviewed annually.</TD></TR></TABLE>

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<TD STYLE="width: 2.2pt"></TD><TD STYLE="width: 18pt">3.</TD><TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Annual Cash Bonuses</U>.</B> You will be eligible to receive an annual cash bonus of $101,500
in respect of the 2019 calendar year. For each calendar year during your employment with the Company, commencing with the 2020
calendar year, you will be eligible to receive an annual cash performance bonus with a target amount equal to 35% of your base
salary as in effect at the beginning of the applicable calendar year. The annual cash bonus payments referenced in this paragraph
will be paid to you no later than March 15 of the calendar year after the applicable bonus year, subject to your continued active
employment with the Company through the date of payment. No partial or prorated a