Waiver of Executive Severance Benefits Agreement between Five Prime Therapeutics, Inc. and William R. Ringo

Summary

Five Prime Therapeutics, Inc. and William R. Ringo agree that, as interim Chief Executive Officer, Mr. Ringo will not be considered a "Covered Employee" under the company's Executive Severance Benefit Plan. By signing this letter, Mr. Ringo acknowledges and expressly waives any right to receive severance benefits under the Plan. This agreement is effective as of March 10, 2020.

EX-10.1 2 fprx-ex101_18.htm EX-10.1 fprx-ex101_18.htm

Exhibit 10.1

March 6, 2020

Via Email

Mr. William R. Ringo

Re: Executive Severance Benefit Plan, effective November 20, 2019 (the “Plan”)

Dear Bill,

Five Prime Therapeutics, Inc. adopted the Plan to provide our officers with severance benefits in certain events. You understand and agree that you will not be a “Covered Employee” as that term is defined in the Plan because you serve as our interim Chief Executive Officer. Please sign below to indicate this understanding and agreement and that you expressly waive any right to benefits under the Plan.

Sincerely,

Five Prime Therapeutics, Inc.

/s/ Peder Jensen

Peder Jensen

Compensation and Management Development Committee Chairman

Agreed:

/s/ William R. Ringo___________March 10, 2020______________

William R. RingoDate

Five Prime Therapeutics, Inc. • 111 Oyster Point Boulevard • South San Francisco, CA 94080 • Phone ###-###-#### • Fax ###-###-####