June 30, 2018
Hubert Chen, MD
I am delighted to make you an offer of employment for the position of Chief Medical Officer (CMO), at Metacrine Inc. (the Company), reporting to Ken Song. Your employment is effective as of August 13, 2018 or a mutually agreed upon date. The terms of the offer are as follows:
Duties and Extent of Service
As full-time CMO for the Company, you will have responsibility for performing those duties as are customary for, and are consistent with, such position, as well as those duties as may be assigned to you from time to time. If you join the Company, you agree to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. Except for vacations and absences due to temporary illness, you will be expected to devote all of your business time and effort to the business and affairs of the Company.
The Company will pay you a base salary of 350,000 dollars per year, paid semi-monthly, less payroll deductions, required taxes, withholdings and payable in accordance with the Companys standard payroll practices.
As a Company employee, your eligibility to participate in the Company employee benefit plans and fringe benefits will depend on whether you meet the eligibility terms of the applicable plans. In addition, you will be eligible to receive up to 35% of your annual salary in the form of a performance bonus each year, subject to approval of a bonus plan by the board of directors and in accordance with the terms of such approved plan.
Upon commencement of your employment with the Company, you will receive a one-time cash payment of $90,000. The sign-on bonus will be deemed earned in equal installments over the first 12 months of employment from your date of hire. In the event your employment should terminate before the 1st anniversary of your date of hire with Metacrine, the Company will have the right to seek reimbursement for a pro-rata amount of the sign-on bonus on the date of termination.
12780 EL CAMINO REAL, SUITE 301
SAN DIEGO, CA 92130