SEC Contract Filing

Filing Date: 2016-05-09

Document Content:
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<TYPE>EX-10.7
<SEQUENCE>7
<FILENAME>snss-ex107_331.htm
<DESCRIPTION>EX-10.7
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">Exhibit 10.7</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;text-indent:0%;">THIRD AMENDED AND RESTATED</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">EXECUTIVE SEVERANCE BENEFITS AGREEMENT</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-weight:bold;font-size:10pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">This Third Amended and Restated Executive Severance Benefits Agreement<font style="font-weight:normal;font-variant: normal;"> (the &#8220;</font><font style="font-style:italic;font-variant: normal;">Agreement</font><font style="font-weight:normal;font-variant: normal;">&#8221;) is entered into this 13th day of April, 2016 (the &#8220;</font><font style="font-style:italic;font-variant: normal;">Effective Date</font><font style="font-weight:normal;font-variant: normal;">&#8221;), between </font>Eric H. Bjerkholt <font style="font-weight:normal;font-variant: normal;">(&#8220;</font><font style="font-style:italic;font-variant: normal;">Executive</font><font style="font-weight:normal;font-variant: normal;">&#8221;) and </font>Sunesis Pharmaceuticals, Inc.<font style="font-weight:normal;font-variant: normal;"> (the</font><font style="font-style:italic;font-variant: normal;"> </font><font style="font-weight:normal;font-variant: normal;">&#8220;Company&#8221;). This Agreement is intended to provide Executive with the compensation and benefits described herein upon the occurrence of specific events. Certain capitalized terms used in this Agreement are defined in Article 6.</font></p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-weight:bold;font-size:10pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">Whereas<font style="font-weight:normal;font-variant: normal;">, the Company and the Executive previously entered into an Executive Severance Benefits Agreement, dated August 12, 2005, which agreement was amended and restated by that certain Amended and Restated Executive Severance Benefits Agreement, dated May 29, 2008, and further amended and restated by that certain Second Amended and Restated Executive Severance Benefits Agreement, dated December 24, 2008, as amended on April 3, 2009 (collectively, the &#8220;</font><font style="font-style:italic;font-variant: normal;">Prior Benefits Agreement</font><font style="font-weight:normal;font-variant: normal;">&#8221;); and</font></p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-weight:bold;font-size:10pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">Whereas<font style="font-weight:normal;font-variant: normal;">, the Company and the Executive again wish to amend and restate the Prior Benefits Agreement by entering into this Third Amended and Restated Executive Severance Benefits Agreement to clarify certain matters previously agreed to by the parties and to comply with the parties&#8217; original intent that the Prior Benefits Agreement be interpreted, construed and administered in a manner that satisfies Section 409A of the Internal Revenue Code of 1986, as amended from time to time, among other things.</font></p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-weight:bold;font-size:10pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">Now,<font style="font-weight:normal;font-variant: normal;"> </font>Therefore<font style="font-weight:normal;font-variant: normal;">, in consideration of the foregoing, the Company and the Executive, intending to be legally bound, hereby amend and restate the Prior Benefits Agreement and agree as follows:</font></p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:center;text-indent:0%;font-weight:bold;font-size:10pt;text-transform:uppercase;font-family:Times New Roman;font-style:normal;font-variant: normal;">Article 1</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:center;text-indent:0%;font-weight:bold;font-size:10pt;font-variant: small-caps;font-family:Times New Roman;font-style:normal;text-transform:none;">Scope of and Consideration For This Agreement</p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.1 Position and Duties<font style="font-weight:normal;">. Executive is currently employed by the Company as Executive Vice President, Corporate Development and Finance, and Chief Financial Officer. Executive reports directly to the Chief Executive Officer.</font></p>
<p style="margin-bottom:0pt;margin-top:12pt;text-align:justify;text-indent:5.24%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.2 Restrictions<font style="font-weight:normal;">. During his employment by the Company, Executive agrees to the best of his ability and experience that he will at al