EXECUTIVE EMPLOYMENT AGREEMENT
This EXECUTIVE EMPLOYMENT AGREEMENT (the Agreement), dated as of December 23, 2020, is by and between Vincera Pharma, Inc., a Delaware corporation (the Company), and Raquel Izumi PhD (Executive).
WHEREAS, the Company wishes to retain the services of Executive and Executive wishes to be employed by the Company on the terms and subject to the conditions set forth in this Agreement; and
WHEREAS, the Company has entered into that certain Merger Agreement, dated as of September 25, 2020 (the Merger Agreement), with LifeSci Acquisition Corp. (LSAC), LifeSci Acquisition Merger Sub, Inc. and Raquel Izumi, as representative of the stockholders of the Company, pursuant to which LSAC shall acquire all of the outstanding shares of the Company, the Company shall become a wholly owned subsidiary of LSAC, and LSAC shall change its name to Vincera Pharma, Inc.; and
WHEREAS, this Agreement, and the PIIA and Arbitration Agreement (as such terms are defined below), shall become effective (the Effective Date) upon the Closing (as defined in the Merger Agreement), and the parties hereto agree that upon the Closing the term Company, for all purposes of this Agreement, the PIIA and the Arbitration Agreement, and as Executives employer of record, shall refer to LSAC as so renamed as Vincera Pharma, Inc.;
NOW THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, and the respective covenants, agreements and undertakings set forth herein, the Company and Executive agree as follows:
(a) Title; Duties. Executive shall serve as the Chief Operations Officer of the Company and shall have such authority and responsibilities, and perform such duties, as may be consistent with such title and position as may be determined and assigned by the Chief Executive Officer of the Company (the CEO).
(b) Time and Effort. Executive agrees to devote substantially all of her normal business efforts and time during normal business hours to the performance of Executives duties hereunder and such other duties consistent with such title and position as may reasonably be determined and assigned by the CEO. During the term of this Agreement, Executive shall not engage in any other employment, occupation, consulting or other business activity that competes with the business of the Company or engage in any other activities that conflict or interfere with Executives obligations under this Agreement.
(c) Term. The term of this Agreement shall commence on the Effective Date and shall continue until terminated by either party as provided in Section 5 hereof.