Consulting Agreement, dated January 1, 2017, between the Registrant and Ken Pienta, as amended by Amendment No. 1 to Consulting Agreement dated December 15, 2021
AMENDMENT NO. 1 TO CONSULTING AGREEMENT
THIS AMENDMENT NO. 1 TO CONSULTING AGREEMENT (this “Amendment”), dated as of December 15, 2021, is entered into by and between Cue Biopharma, Inc., a Delaware corporation (the “Company”), and Kenneth J. Pienta (the “Consultant”). Reference is made to that certain Consulting Agreement, dated as of January 1, 2017, by and between the Company and the Consultant (the “Agreement”).
WHEREAS, the Company and the Consultant desire to amend the Agreement as set forth below; and
WHEREAS, Section 9 of the Agreement provides that the Agreement may be amended only by a written instrument executed by the Company and the Consultant.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Consultant do hereby agree with each other as follows:
Consultant will serve as the Company’s Interim Chief Medical Officer and will provide all services (1) requested by the Company in line with those customarily performed by a Chief Medical Officer and/or (2) required by applicable law. In the performance of such services, Consultant agrees to work approximately 40 hours per week.
From and after the date of this Amendment, the Company will pay Consultant a fee of $475,000 annually, paid bi-weekly in arrears.
Subject to approval by the Board of Directors, you will be eligible to receive discretionary performance-based bonuses of up to 40% of your base salary per annum.
Prior to the date of this Amendment, the Company has granted Consultant options from time to time in consideration of Consultant’s services. In connection with the execution of this Amendment and subject to approval by its Board of Directors, the Company will grant, pursuant to its 2016 Omnibus Incentive Plan (the “Plan”), Consultant an option to purchase 80,000 shares of the Company’s common stock, which option will vest over two years in equal, semi-annual installments beginning six months from the date of grant, subject to the terms and conditions of the Plan and the applicable Award Agreement (as defined in the Plan).”
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.
CUE BIOPHARMA, INC.
By: /s/ Daniel Passeri
/s/ Kenneth J. Pienta