CONSULTING AND SEPARATION AGREEMENT
Exhibit 10.1
CONSULTING AND SEPARATION AGREEMENT
This CONSULTING AND SEPARATION AGREEMENT (the “Agreement”) is entered into by and among Xxxxxxx Xxxxxxx (“Xx. Xxxxxxx”), and SpringWorks Therapeutics, Inc., a Delaware corporation (the “Company”). This Agreement is entered into effective as of September 12, 2022. Xx. Xxxxxxx and the Company are hereinafter collectively referred to as the “Parties” and each are individually referred to as a “Party”.
Recitals
WHEREAS, the Company currently employs Xx. Xxxxxxx as the Head of Research & Development of the Company pursuant to that certain Xxxxxxx and Restated Employment Agreement by and between the Parties, dated as of July 30, 2021 (the “Employment Agreement”);
WHEREAS, the Parties also are parties to that certain Employee Confidentiality and Assignment Agreement, dated as of July 30, 2021 (the “Restrictive Covenants Agreement”), and that certain Retention Agreement, dated as of May 2, 2022 (the “Retention Agreement”);
WHEREAS, Xx. Xxxxxxx has informed the Company of his intention to terminate his employment from the Company (the “Retirement”) effective September 16, 2022 (the “Retirement Date”) pursuant to Section 3(e) of the Employment Agreement;
WHEREAS, following the Retirement Date, the Company desires to engage Xx. Xxxxxxx as Senior Strategic Advisor to the Company, providing advice to the Company, including to the Company’s Chief Executive Officer (the “CEO”), with respect to certain matters;
WHEREAS, Xx. Xxxxxxx desires to accept the engagement as Senior Strategic Advisor to provide such services to the Company as reasonably requested by the CEO and mutually agreed upon by Xx. Xxxxxxx; and
WHEREAS, pursuant to the terms of this Agreement, the Parties desire to amicably end Xx. Xxxxxxx’x employment relationship with the Company under the Employment Agreement, notwithstanding any prior agreements to the contrary, and desire to commence a new service relationship between Xx. Xxxxxxx and the Company.
Now, THEREFORE, in consideration of the mutual promises and covenants contained herein, it is hereby agreed by, between and among the Parties hereto as follows:
Agreement
In consideration of the foregoing Recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the Parties, intending to be legally bound, agree as follows:
1. Employment Resignation and Related Matters.
1.1 Retirement; Engagement as Senior Strategic Advisor. Effective as of the Retirement Date, Xx. Xxxxxxx shall terminate his employment with the Company pursuant to Section 3(e) of the Employment Agreement. This Agreement represents the “Notice of Termination” contemplated by Section 3(f) of the Employment Agreement. Effective upon the day immediately following the Retirement Date (the “Commencement Date”), the Company shall engage Xx. Xxxxxxx as an independent contractor in the role of Senior Strategic Advisor (the “Contracting Engagement”). Effective as of the Retirement Date, the Employment Agreement shall be terminated without any liability on the part of any party thereto, except to the extent expressly set forth herein.
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1.2 Compensation Related to Retirement.
1.2.1 Accrued Benefit. In accordance with Section 4(a) of the Employment Agreement, the Company shall pay Xx. Xxxxxxx on or before the date that is thirty (30) days after the Retirement Date (the “Accrued Benefit Payment Date”) (a) base salary earned through the Retirement Date, (b) unpaid expense reimbursements (subject to, and in accordance with, Section 2(d) of the Employment Agreement), (c) unused vacation accrued through Retirement Date and (d) any vested benefits that Xx. Xxxxxxx may have under any employee benefit plan of the Company through the Retirement Date, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans. For the avoidance of doubt, the foregoing collectively are the “Accrued Benefit” as defined in the Employment Agreement.
1.2.2 2022 Retention Bonus. The Parties acknowledge and agree that, as of the Retirement Date, the Company has paid to Xx. Xxxxxxx the 2022 Retention Bonus (as defined in the Retention Agreement) in accordance with the terms of the Retention Agreement. For the avoidance of doubt, the Parties acknowledge and agree that, notwithstanding the Contractor Engagement, Xx. Xxxxxxx shall not be entitled to receive the 2023 Retention Bonus (as defined in the Retention Agreement).
1.2.3 Retirement Benefits. If Xx. Xxxxxxx does not revoke, and complies with the terms of this Agreement and this Agreement becomes irrevocable, all within sixty (60) days after the Retirement Date, (a) the Company shall pay Xx. Xxxxxxx an amount equal to twelve (12) months of Xx. Xxxxxxx’x Base Salary (as defined in the Employment Agreement) plus Xx. Xxxxxxx’x Target Annual Incentive Compensation (as defined in the Employment Agreement) for calendar year 2022 and (b) if Xx. Xxxxxxx was participating in the Company’s group health plan immediately prior to the Retirement Date, then the Company shall pay Xx. Xxxxxxx a monthly cash payment for the shorter of (i) twelve (12) months and (ii) Xx. Xxxxxxx’x COBRA continuation period, in an equal amount to the monthly employer contribution that the Company would have made to provide health insurance to Xx. Xxxxxxx if Xx. Xxxxxxx had remained employed by the Company (the benefits provided pursuant for under subsections (a) and (b), collectively, the “Retirement Benefits”). The Retirement Benefits shall be paid in substantially equal installments in accordance with the Company’s payroll practice for the twelve (12) month period immediately following the Retirement Date, commencing within sixty (60) days after the Retirement Date. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and other guidance issued thereunder and any state law of similar effect (collectively, “Section 409A”).
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1.3 Equity. Consistent with the terms of the Company’s 2019 Stock Option and Equity Incentive Plan (as amended, supplemented or replaced from time to time, the “Option Plan”) and the Company’s standard form of stock option and restricted stock agreement (as the case may be, in each case as updated from time to time by the Company, and, collectively, with the Option Plan, the “Equity Documents”), as of the date of this Agreement, Xx. Xxxxxxx continues to hold directly or indirectly certain equity interests in the Company. The equity interests are comprised solely of vested options and restricted stock awards (the “Vested Equity”), which, for the avoidance of doubt, shall include, but are not limited to, the 2022 Retention Grant (as defined in the Retention Agreement) and unvested stock options and restricted stock awards (the “Unvested Equity”), with such Vested Equity and Unvested Equity identified and noted as such in Exhibit A. Following the Retirement Date, Xx. Xxxxxxx shall continue to hold such Vested Equity subject to and in accordance with the terms of the Equity Documents. Notwithstanding anything to the contrary in the Equity Documents, and notwithstanding the Contracting Engagement, the Parties acknowledge and agree that the Unvested Equity shall (i) not be subject to any continued vesting after the Retirement Date and (ii) terminate immediately on the Retirement Date and be of no further force or effect. For the avoidance of doubt, the Parties acknowledge and agree that, as of the Retirement Date, the Company has issued to Xx. Xxxxxxx the 2022 Retention Grant in accordance with the terms of the Retention Agreement. For the further avoidance of doubt, the Parties acknowledge and agree that, notwithstanding the Contractor Engagement, Xx. Xxxxxxx shall not be entitled to receive the 2023 Retention Grant (as defined in the Retention Agreement).
2. Contracting Engagement
2.1 Contracting Engagement; Services; Termination. The Contracting Engagement shall begin on the Commencement Date and continue until terminated as provided below. During the Contracting Engagement, Xx. Xxxxxxx shall provide independent contractor services as Senior Strategic Advisor to the Company (the “Services”), which shall be provided as needed, from time to time, as reasonably requested in advance by the CEO and mutually agreed upon by Xx. Xxxxxxx. Either Party may terminate the Contracting Engagement, at any time, for any reason, with or without cause, upon not less than thirty (30) days advance written notice to the other Party. Upon the termination of the Contracting Engagement, Xx. Xxxxxxx shall be entitled to payment for Services actually provided and expenses actually incurred prior to the date of termination of the Contracting Engagement for which Xx. Xxxxxxx has not yet then been paid.
2.2 Fee. As compensation for the Services, the Company shall pay Xx. Xxxxxxx a fee of $300 per hour, in arrears (the “Fee”). The Parties acknowledge and agree that the Fee shall be in full compensation for the Services. The Company shall treat Fee payments to Xx. Xxxxxxx as Form 1099-MISC income and therefore shall not make tax-related deductions or withholdings from any Fee payments.
2.3 General Expense Reimbursements. The Company shall reimburse Xx. Xxxxxxx for all reasonable business expenses that Xx. Xxxxxxx incurs in performing the Services hereunder, subject to the Company’s usual expense reimbursement policies and practices, following submission by Xx. Xxxxxxx of reasonable documentation thereof provided that individual expenses in excess of $200 shall require the prior approval of the CEO. All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by Xx. Xxxxxxx during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.
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2.4 Policies and Practices. The relationship between the Parties shall be governed by this Agreement and by the policies and practices established by the Company from time to time with respect to its independent contractors. In the event that the terms of this Agreement differ from or are in conflict with the Company’s policies or practices with respect to its independent contractors, this Agreement shall control.
2.5 Independent Contractor. Upon the Retirement, Xx. Xxxxxxx will no longer be an employee of the Company, and Xx. Xxxxxxx will not thereafter be an employee of the Company at any time during the Contractor Engagement. Therefore, during the Contracting Engagement, Xx. Xxxxxxx shall not be entitled to participate in any of the employee benefit plans or programs provided by the Company to its employees (including without limitation health and disability benefit plans and programs). Xx. Xxxxxxx’x status and relationship with the Company shall be that of an independent contractor and consultant. Xx. Xxxxxxx shall not state or imply, directly or indirectly, that he is empowered to bind the Company without the Company’s prior written consent. As an independent contractor, Xx. Xxxxxxx shall have the right to reasonably control and determine the time, place, methods, manner and means of performing the Services. Specifically, Xx. Xxxxxxx shall be permitted to perform the Services remotely and at a location of his choosing. Xx. Xxxxxxx will be solely responsible for payment of all taxes arising from his relationship with the Company as Senior Strategic Advisor.
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3. Release of Claims.
3.1 Release by Xx. Xxxxxxx. In consideration for, among other terms, the full performance by the Company of all of its obligations under this Agreement including, without limitation, the payment to Xx. Xxxxxxx of the Retirement Benefits, Xx. Xxxxxxx irrevocably and unconditionally releases and forever discharges the Company, all of its affiliated and related entities, its and their respective predecessors, successors and assigns, its and their respective employee benefit plans and the fiduciaries of such plans, and the current and former officers, directors, direct and indirect securityholders, employees, attorneys, accountants, and agents of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when Xx. Xxxxxxx signs this Agreement, he has, ever had, now claims to have or ever claimed to have had against any or all of the Releasees. This release includes, without limitation, the complete waiver and release of all Claims of or arising in connection with: the Employment Agreement, the Retention Agreement or any other agreement between Xx. Xxxxxxx and any of the Releasees, including, without limitation, Claims for breach of express or implied contract; wrongful termination of employment whether in contract or tort; intentional, reckless, or negligent infliction of emotional distress; breach of any express or implied covenant of employment, including the covenant of good faith and fair dealing; interference with contractual or advantageous relations, whether prospective or existing; fraud, deceit or misrepresentation; discrimination, harassment or retaliation under state, federal, or municipal law, including, without limitation, Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., as amended, the Americans with Xxxxxxxxxxxx Xxx, 00 X.X.X. § 00000 et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., the Family and Medical Leave Act, the Arizona Employment Protection Act, the Arizona Civil Rights Act, the Arizona Occupational Health and Safety Act, the Connecticut Family and Medical Leave Act or the Connecticut Fair Employment Practices Act; violation of any state or local statute, rule, ordinance, or regulation; promissory estoppel or detrimental reliance; fraud, slander, libel, defamation, disparagement, or damage to reputation; personal injury, negligence, or any other claim for damages or injury of any kind whatsoever, and all claims for monetary recovery, including, without limitation, attorneys’ fees, experts’ fees, medical fees or expenses, costs, and disbursements; whistleblower retaliation; invasion of privacy; violation of public policy or any other unlawful behavior; reinstatement; compensatory, punitive or emotional distress damages; wages, bonuses, incentive compensation, equity, severance pay, vacation pay, back or front pay or other forms of compensation, whether under Arizona wage laws, Connecticut minimum wage and wage payment laws or otherwise; and attorney’s fees and costs. Xx. Xxxxxxx understands that this general release of Claims includes, without limitation, any and all Claims related to Xx. Xxxxxxx’x employment by the Company (including, without limitation, any Claims against the Company with respect to any stock-based awards of any kind) and the termination of his employment, and all Claims in his capacity as a shareholder of the Company arising up to and through the date that Xx. Xxxxxxx enters into this Agreement. Xx. Xxxxxxx understands that this general release does not extend to any rights or Claims that may arise out of acts or events that occur after the date on which he signs this Agreement. Xx. Xxxxxxx represents that he has not assigned to any third party and has not filed with any agency or court any Claim released by this Agreement. This release does not affect Xx. Xxxxxxx’x rights or obligations under this Agreement, nor shall it affect Xx. Xxxxxxx’x rights, if any, to unemployment compensation benefits or to workers’ compensation. Xx. Xxxxxxx hereby expressly waives and relinquishes all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to the release of any unknown or unsuspected claims (including, but limited to, the Claims) Xx. Xxxxxxx may have against the Releasees. Xx. Xxxxxxx agrees to not accept damages of any nature, other equitable or legal remedies for his own benefit or attorney’s fees or costs from any of the Releasees with respect to any Claim released by this Agreement.
3.2 Acknowledgement by the Company. Based upon reasonable inquiry of the Company’s senior leadership team, the Company has no knowledge or reason to believe that the Company has any Claims against Xx. Xxxxxxx relating to Xx. Xxxxxxx’x employment by and termination of employment with the Company or otherwise.
4. Continuing Obligations.
4.1 Restrictive Covenant Obligations. Nothing in this Agreement shall limit Xx. Xxxxxxx’x obligations under the Restrictive Covenants Agreement, including, without limitation, the post-employment restricted periods as provided for in Section 8 (“Non-Competition and Non-Solicitation”), to which Xx. Xxxxxxx acknowledges he is subject as a result of the Retirement. In addition, Xx. Xxxxxxx acknowledges that his obligations under the Restrictive Covenants Agreement shall continue in effect during the Contractor Engagement as if Xx. Xxxxxxx’x performance of the Services were to constitute employment for purposes of the Restrictive Covenants Agreement, including, without limitation, with respect to Section 1 (“Proprietary Information”), Section 2 (“Recognition of Company’s Rights”), Section 4 (“Commitment to Company; Avoidance of Conflict of Interest”) and Section 5 (“Developments”); provided that the running of the one (1) year post-employment restricted period as provided for in Section 8 (“Non-Competition and Non-Solicitation”) shall begin on the Retirement Date. For purposes of this Agreement, the obligations in this Section 4 and under the Restrictive Covenants Agreement and any other agreement relating to confidentiality, assignment of inventions, or other restrictive covenants shall collectively be referred to as the “Continuing Obligations”.
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4.2 Non-Disparagement. Subject to Section 5 of this Agreement, Xx. Xxxxxxx agrees not to take any action or make any statements, written or oral, that are disparaging about or adverse to the business interests of the Company or any of its affiliates or its or their products, services or current or former officers, directors, direct or indirect securityholders, employees, managers or agents. Company agrees to direct its executive-level employees not to take any action or make any statements, written or oral, that are disparaging about Xx. Xxxxxxx. These non-disparagement obligations shall not apply to truthful testimony in any legal proceeding.
4.3 Litigation and Regulatory Cooperation. During and after the Contracting Engagement, Xx. Xxxxxxx shall reasonably cooperate with the Company (at the Company’s cost and expense) in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while Xx. Xxxxxxx was employed by or providing services to the Company. Xx. Xxxxxxx’x cooperation in connection with such claims or actions shall include, but not be limited to, being reasonably available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times. During and after the Contracting Engagement, Xx. Xxxxxxx also shall cooperate with the Company (at the Company’s cost and expense) in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while Xx. Xxxxxxx was employed by or providing services to the Company. The Company shall reimburse Xx. Xxxxxxx for any reasonable out-of-pocket expenses incurred in connection with Xx. Xxxxxxx’x performance of obligations pursuant to this Section 4.3 upon presentation of receipts. Nothing about the foregoing shall preclude Xx. Xxxxxxx from testifying truthfully in any forum or from providing truthful information to any regulatory authority or require Xx. Xxxxxxx to waive any attorney-client privilege or protection or violate any applicable law.
4.4 Relief. Xx. Xxxxxxx agrees that it would be difficult to measure any damages caused to the Company which might result from any breach by him of the Continuing Obligations, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, Xx. Xxxxxxx agrees that if he breaches, or proposes to breach, any portion of the Continuing Obligations, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to the Company. In addition, in the event Xx. Xxxxxxx breaches any of the Continuing Obligations during a period when he is receiving retirement payments pursuant to Section 1.2.3 hereof, the Company shall have the right to suspend or terminate such retirement payments. Such suspension or termination shall not limit the Company’s other options with respect to relief for such breach.
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5. Protected Disclosures. Nothing in this Agreement or otherwise limits Xx. Xxxxxxx’x obligation to testify truthfully in any legal proceeding, right to file a charge, claim or complaint with any federal agency (such as the Equal Employment Opportunity Commission) or any state or local governmental agency or commission (together, a “Government Agency”) or ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including his ability to provide documents or other information, without notice to the Company.
6. Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return receipt requested, to Xx. Xxxxxxx at the last address Xx. Xxxxxxx has filed in writing with the Company or, in the case of the Company, at its main offices, attention of the Board of Directors of the Company.
7. Assignment and Binding Effect. This Agreement shall inure to the benefit of and be binding upon Xx. Xxxxxxx and the Company, and each of Xx. Xxxxxxx’x and the Company’s respective successors, executors, administrators, heirs and permitted assigns. Because of the unique and personal nature of Xx. Xxxxxxx’x duties under this Agreement, neither this Agreement nor any rights or obligations under this Agreement shall be assignable by Xx. Xxxxxxx.
8. Arbitration of Disputes. Any controversy or claim arising out of or relating to this Agreement or the breach thereof or otherwise arising out of this Agreement shall, to the fullest extent permitted by law, be settled by arbitration in any forum and form agreed upon by the Parties or, in the absence of such an agreement, under the auspices of the American Arbitration Association (“AAA”) in Stamford, Connecticut, in accordance with the Employment Dispute Resolution Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event that any person or entity other than Xx. Xxxxxxx or the Company may be a party with regard to any such controversy or claim, such controversy or claim shall be submitted to arbitration subject to such other person or entity’s agreement. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This Section 8 shall be specifically enforceable. Notwithstanding the foregoing, this Section 8 shall not preclude either Party from pursuing a court action for the sole purpose of obtaining a temporary restraining order or a preliminary injunction in circumstances in which such relief is appropriate; provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section 8.
9. Choice of Law. This Agreement shall be construed and interpreted in accordance with the internal laws of the State of Connecticut without regard to its conflict of laws principles. With respect to any disputes concerning federal law, such disputes shall be determined in accordance with the law as it would be interpreted and applied by the United States Court of Appeals for the Second Circuit.
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10. Integration; No Reliance. This Agreement, the Equity Documents, each as to be modified in accordance with Sections 1.3 and 2.5 of this Agreement, the Restrictive Covenants Agreement, as modified by Section 4.1 of this Agreement, represent and contain the complete, final and exclusive agreement of the Parties relating to the terms and conditions of Xx. Xxxxxxx’x termination of employment from the Company and engagement by the Company as Senior Strategic Advisor and supersede all prior and contemporaneous oral and written employment agreements or arrangements between the Parties, including, without limitation, the Employment Agreement and the Retention Agreement, except as otherwise expressly preserved in this Agreement. In signing this Agreement, Xx. Xxxxxxx is not relying on any agreement, statement or promise of the Company except as is expressly contained in this Agreement.
11. Time for Consideration; Effective Date. Xx. Xxxxxxx acknowledges that he has been provided with the opportunity to consider this Agreement for twenty-one (21) days from his receipt of this Agreement before signing it (the “Consideration Period”). To accept this Agreement, Xx. Xxxxxxx must return to the Company a signed, unmodified original or PDF copy of this Agreement so that it is received by the undersigned on or before the expiration of the Consideration Period. If Xx. Xxxxxxx signs this Agreement before the end of the Consideration Period, Xx. Xxxxxxx acknowledges by signing this Agreement that such decision was entirely voluntary and that he had the opportunity to consider this Agreement for the entire Consideration Period. The Parties agree that any changes or modifications to this Agreement shall not restart the Consideration Period. For a period of seven (7) days from the day of the execution of this Agreement (the “Revocation Period”), Xx. Xxxxxxx has and shall retain the right to revoke this Agreement by written notice that must be received by the undersigned before the end of such Revocation Period. This Agreement shall become effective on the business day immediately following the expiration of the Revocation Period (the “Effective Date”), provided that Xx. Xxxxxxx does not revoke this Agreement during the Revocation Period.
12. Amendment. This Agreement cannot be amended or modified except by a written agreement signed by Xx. Xxxxxxx and a duly authorized officer of the Company.
13. Waiver. No term, covenant or condition of this Agreement, or the Restrictive Covenants Agreement, as modified by Section 4.1, or any breach thereof shall be deemed waived, except with the written consent of the Party against whom the wavier is claimed, and any waiver of any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding breach of the same or any other term, covenant, condition or breach.
14. Severability. The finding by a court or arbitrator of competent jurisdiction of the unenforceability, invalidity or illegality of any provision of this Agreement, or the Restrictive Covenants Agreement, as modified by Section 4.1 of this Agreement, shall not render any other provision of this Agreement, or the Restrictive Covenants Agreement, as modified by Section 4.1 of this Agreement, unenforceable, invalid or illegal. Such court or arbitrator shall have the authority to modify or replace the invalid or unenforceable term or provision with a valid and enforceable term or provision, and the Parties hereby stipulate that such modification or replacement most accurately represents the Parties’ intention with respect to the invalid or unenforceable term, or provision.
15. Interpretation; Construction. The headings set forth in this Agreement are for convenience of reference only and shall not be used in interpreting this Agreement. Xx. Xxxxxxx has consulted with his own independent counsel and tax advisors with respect to the terms of this Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and any rule of construction to the effect that any ambiguities are to be resolved against the drafting Party shall not be employed in the interpretation of this Agreement.
16. Survival. The provisions of this Agreement shall survive the termination of this Agreement and/or the termination of Xx. Xxxxxxx’x engagement to the extent necessary to effectuate the terms contained herein.
17. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, all of which together shall contribute one and the same instrument.
[Remainder of Page Intentionally Left Blank; Signature Page Follows.]
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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.
SPRINGWORKS THERAPEUTICS, INC. | ||
By: | /s/ Xxxxx Xxxxx | |
Name: | Xxxxx Xxxxx | |
Title: | Chief Executive Officer | |
/s/ Xxxxxxx Xxxxxxx | ||
DR. XXXXXXX XXXXXXX |
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EXHIBIT A
VESTED EQUITY & UNVESTED EQUITY
AS OF RETIREMENT DATE (September 16, 2022)
Grant Number | Grant Date | Plan/Type | Granted Units | Exercise Price | Vested Units | Unvested Units | ||||||||||||||
00000525 | 6/1/2021 | 2019/RSA | 27,500 | N/A | 9,075 | * | 18,425 | |||||||||||||
00000527 | 6/1/2021 | 2019/ISO | 4,896 | $ | 81.68 | 1,224 | 3,672 | |||||||||||||
00000528 | 6/1/2021 | 2019/NQ | 220,104 | $ | 81.68 | 69,088 | 151,016 | |||||||||||||
00000902 | 1/6/2022 | 2019/ISO | 1,018 | $ | 59.46 | 0 | 1,018 | |||||||||||||
00000903 | 1/6/2022 | 2019/NQ | 47,834 | $ | 59.46 | 8,142 | 39,692 | |||||||||||||
00001071 | 1/6/2022 | 2019/RSU | 15,674 | N/A | 0 | 15,674 | ||||||||||||||
00001268 | 6/30/2022 | 2019/RSU | 12,185 | N/A | 12,185 | * | 0 |
*2,672 and 3,103 shares withheld for taxes associated with vesting, respectively.
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