Caribou Biosciences 2021 Bonus Award Letter to Ruhi Khan
Caribou Biosciences, Inc. is awarding Ruhi Khan, its Chief Business Officer, a one-time bonus of $26,650 for her contributions to the company's achievements in 2021. The payment will be made on February 22, 2022, subject to tax withholdings. The letter also confirms her base salary and target bonus for 2022, and states that all other employment terms are governed by her existing Officer Employment Agreement. The letter is signed by the company's President and CEO, Rachel E. Haurwitz.
Exhibit 10.40
February 11, 2022
Ruhi Khan
311 Cervantes Road
Portola Valley, CA 94028
Dear Ruhi:
I am pleased to announce that the Caribou Board of Directors has approved a bonus based on the Company’s achievements in 2021. You will receive a one-time payment of $26,650, less applicable withholding taxes, on February 22, 2022. Congratulations! Your base salary is $410,000 and your target bonus will be 40% in 2022 for your role as Chief Business Officer. Your current manager is Rachel Haurwitz.
2021 was a pivotal year for the Company as we signed a license and collaboration agreement with AbbVie, closed the Series C financing, and became a publicly traded company. Additionally, as publicly disclosed in July, the first patient was dosed in Caribou’s Phase 1 ANTLER clinical trial for our allogeneic anti-CD19 CAR-T cell therapy (CB-010). The other members of the Board and I are grateful to you for your hard work and your achievements in 2021. Caribou has the exciting and challenging opportunity to transform the field of medicine with our product candidates. Only through the continued collective efforts of the herd will we achieve our ambitious 2022 goals.
All other terms and conditions of your employment are governed by the Officer Employment Agreement between you and the Company, dated November 8, 2021. Thank you again for your contributions to the Company’s accomplishments in 2021. Please let Cindy know if you wish to contribute to your 401(k) account from your bonus payment.
I am excited about all we will accomplish together in 2022!
Best regards,
/s/ Rachel E. Haurwitz
Rachel E. Haurwitz, Ph.D.
President and CEO
Caribou Biosciences, Inc., 2929 7th Street, Suite 105, Berkeley, CA 94710; (510) 982-6030
