Entasis Therapeutics Special Bonus Award Memorandum
This memorandum from Entasis Therapeutics Holdings Inc. outlines a Special Bonus Award for an employee, as approved by the company's Compensation Committee. The award includes two potential bonus payments: one tied to the completion of a private placement and another linked to the announcement of clinical trial results. To receive each bonus, the employee must still be employed by the company on the payment date. The amounts are subject to tax withholdings and deductions.
Exhibit 10.2
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entasistx.com |
MEMORANDUM
To: [Name of Recipient]
From: [Manager]
Date: [Date]
Re: Special Bonus Award
This memorandum confirms the Special Bonus Award approved by the Compensation Committee of the Board of Directors of Entasis Therapeutics Holdings Inc. on May 15, 2020, as follows:
Type of Award(1) | Amount of Award(2) | Date of Payment | Conditions to Receipt of Award |
Private Placement Award | $[●] | August 31, 2020 | 1) Second Closing of Private Placement completed on or before the date of payment 2) Employee remains employed with the Company on the date of payment |
ATTACK Award | $[●] | With first regular payroll following announcement of topline data from ATTACK clinical trial | 1) Company announcement of topline data from the ATTACK clinical trial 2) Employee remains employed with the Company on the date of payment |
(1) Include description of award as per eligible recipient.
(2) Represents gross amount of award. Applicable tax withholdings and deductions will be calculated on the date of payment.
