Employment Agreement Addendum and Release of Claims between IDEAYA Biosciences, Inc. and Douglas Snyder
This agreement is between IDEAYA Biosciences, Inc. and Douglas Snyder. It amends Snyder’s employment agreement to clarify his eligibility for an annual bonus, targeted at 40% of his base salary, based on performance and subject to continued employment. The document also includes a release of claims, where Snyder agrees not to sue the company for any employment-related issues up to the date of signing, with certain exceptions such as unemployment benefits and vested rights. The release becomes effective eight days after signing unless revoked within seven days.
Exhibit 10.3
IDEAYA BIOSCIENCES, INC.
EMPLOYMENT AGREEMENT ADDENDUM
The Employment Agreement between IDEAYA Biosciences, Inc., a Delaware corporation (the “Company”) and Douglas Snyder (“Executive” and, together with the Company, the “Parties”) dated September 18, 2024 (the “Employment Agreement”) is hereby amended, effective March 28, 2025, as follows:
Section 3 (b) of the Employment Agreement is amended and replaced in its entirety with the following:
3(b) Annual Bonus. Executive shall be eligible to receive a discretionary annual bonus based on Executive’s achievement of performance objectives established by the Board, its Compensation Committee and/or the CEO, such bonus to be targeted at forty percent (40%) of Executive’s Annual Base Salary (the “Annual Bonus”). Any Annual Bonus approved by the Board, the Compensation Committee of the Board and/or the CEO shall be paid at the same time annual bonuses are paid to other executives of the Company generally, subject to Executive’s continuous employment through the date of approval.
All other provisions of the Employment Agreement remain in full force and effect.
[Signature Page Follows]
1
|
The Parties have executed this Addendum as of [DATE OF SIGNATURE].
IDEAYA BIOSCIENCES, INC.
By:/s/ Yujiro Hata
Name: Yujiro Hata
Title: President and Chief Executive Officer
EXECUTIVE
By:/s/ Douglas Snyder
Name: Douglas Snyder
Address:
[ ]
[ ]
|
Exhibit 10.3
Exhibit A
PERMITTED OUTSIDE ACTIVITIES
2
|
Exhibit 10.3
Exhibit B
RELEASE OF CLAIMS
This Release of Claims (“Release”) is entered into as of _________________, 20__, between [__________] (“Executive”) and IDEAYA Biosciences, Inc., a Delaware corporation (the “Company” and, together with Executive, the “Parties”), effective eight days after Executive’s signature hereto (the “Effective Date”), unless Executive revokes his acceptance of this Release as provided in Paragraph 1(c), below.
3
|
Exhibit 10.3
4
|
Exhibit 10.3
BEING AWARE OF SAID CODE SECTION, EXECUTIVE HEREBY EXPRESSLY WAIVES ANY RIGHTS EXECUTIVE MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.
5
|
Exhibit 10.3
6
|
Exhibit 10.3
IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing on the dates shown below.
EXECUTIVE IDEAYA BIOSCIENCES, INC.
__________________________ __________________________
By:
Title:
Date: ______________________ Date: _____________________
7
|