Zymeworks Inc. Promotion and Compensation Letter for Neil Klompas (COO and CFO)
Zymeworks Inc. confirms the promotion of Neil Klompas to Chief Operating Officer, effective January 5, 2022, while he continues as Chief Financial Officer. His base salary increases to $458,000 and his bonus target rises to 45%. All other terms of his existing employment agreement remain unchanged. This letter serves as formal notice of the promotion and compensation adjustment.
Exhibit 10.3
5 January 2022
Mr. Neil Klompas
Executive Vice President, Business Operations and Chief Financial Officer
Promotion to Chief Operating Officer
Dear Neil,
On behalf of the Board of Directors of Zymeworks Inc. (“Zymeworks”), I am pleased to confirm your promotion to the position of Chief Operating Officer, effective 5 January 2022 (you will remain as Chief Financial Officer as well), and the following changes to your compensation:
| Current | New | |||
| Base Salary (USD): | $437,124 | $458,000 | ||
| Bonus Target: | 40% | 45% | ||
| Title: | Executive Vice President, Business Operations and Chief Financial Officer | Chief Operating Officer and Chief Financial Officer |
Your revised compensation is based on a market assessment of Zymeworks’ compensation practices and your contributions to Zymeworks’ goals and ongoing efforts to make Zymeworks a world leader in antibody and protein therapeutics.
All other terms and conditions of your employment agreement remain unchanged.
Neil, I want to personally thank you for all your contributions and commitment to Zymeworks’ success. This promotion is well-earned and well-deserved.
| Sincerely, |
| Kathryn O’Driscoll |
| Chief People Officer |
Zymeworks Inc. | ###-###-#### West 8th Avenue, Vancouver, BC, Canada, V6H 3V9 | zymeworks.com
