Re: Notice of Resignation and Transition AgreementTransition Agreement • February 23rd, 2023 • CymaBay Therapeutics, Inc. • Pharmaceutical preparations
This letter agreement sets forth your formal notice of resignation and the substance of a transition agreement (the “Agreement”) between CymaBay Therapeutics, Inc. (“CymaBay”) and you, entered into as a result of your resignation. The parties acknowledge that you are leaving your employment with CymaBay pursuant to Section 8.1 of your Employment Offer Letter dated May 5, 2021 (the “Employment Letter”) based on your own choice to pursue other endeavors. As a result, you are not entitled to any of the severance benefits set forth in Section 8.3 of the Employment Letter. However, in consideration of CymaBay continuing to provide employment benefits (including salary) to you from this date until May 17, 2023 (the “Transition Period”) and the other benefits set forth in this Agreement, you agree to provide the release set forth in Paragraph 12 hereof, as well as provide the other benefits to CymaBay set forth in this Agreement.
