Exhibit 10.2
CATALYST BIOSCIENCES, INC.
January 17, 2023
Nassim Usman, Ph.D.
VIA EMAIL
Dear Nassim:
This letter (the “Agreement”) confirms the agreement between you and Catalyst Biosciences, Inc. (the “Company”) regarding your waiver of certain existing severance payments and benefits, the cancellation of certain of your outstanding stock options, your general release of claims with respect to the Company as of the date hereof, and a lump sum bonus to be paid to you in consideration for your execution and non-revocation of such general release of claims. For clarity, the lump sum bonus relates to the discretionary event-based bonus approved by the Company’s Compensation Committee on December 1, 2022, which is in lieu of and replaces any amounts you would otherwise be entitled to receive pursuant to the Company’s target performance bonus for fiscal year 2022 (the “2022 Annual Bonus”). By signing below, you acknowledge and agree that you will not be paid the 2022 Annual Bonus and instead will receive the lump sum payment described in Section 3 below. This Agreement will be effective upon your execution of the Agreement (the “Effective Date”). Capitalized terms used but not defined herein shall have the meaning ascribed thereto in the employment agreement between you and the Company, dated August 27, 2018, as amended (the “Employment Agreement”).
[Signature Page Follows]
To accept this Agreement, please sign and date this Agreement and return it to me. You have until 5:00 p.m. PT on January 17, 2023 to review and consider this Agreement and to provide me with an executed copy thereof. Please indicate your agreement with the above terms by signing below.
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CATALYST BIOSCIENCES, INC. | ||
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My agreement with the terms of this Agreement is signified by my signature below. Furthermore, I acknowledge that I have read and understand this Agreement and that I sign this release of all claims voluntarily, with full appreciation that at no time in the future may I pursue any of the rights I have waived in this Agreement.
Signed |
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| Nassim Usman, Ph.D. |
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EXHIBIT A
OPTIONS SUMMARY SCHEDULE(1)
ISOs
Grant Date | Exercise Price Per Share | Shares of Company Common Stock Originally Subject to Options | Options Vested and Outstanding(2) | Options Unvested and Outstanding(3) | Cancelled Options(4) |
10/22/2015 | $17.36 | 6,143 | 6,143 | - | - |
10/22/2015 | $17.36 | 14,721 | 14,721 | - | - |
7/11/2017 | $1.22 | 188,921 | 188,921 | - | - |
1/12/2018 | $3.98 | 25,140 | 25,140 | - | - |
1/24/2019 | $2.10 | 6,341 | - | 6,341 | 6,341 |
1/23/2020 | $1.81 | 57,264 | - | 57,264 | 57,264 |
2/8/2021 | $1.55 | 76,173 | 4 | 76,169 | 76,169 |
NQSOs
Grant Date | Exercise Price Per Share | Shares of Company Common Stock Originally Subject to Options | Options Vested and Outstanding(2) | Options Unvested and Outstanding(3) | Cancelled Options(4) |
10/22/2015 | $17.36 | 3,389 | 3,389 | - | - |
10/22/2015 | $17.36 | 2,362 | 2,362 | - | - |
10/22/2015 | $17.36 | 30,438 | 30,438 | - | - |
7/11/2017 | $1.22 | 799,272 | 799,272 | - | - |
1/12/2018 | $3.98 | 336,232 | 336,232 | - | - |
7/30/2018 | $2.55 | 285,294 | 285,294 | - | - |
1/24/2019 | $2.10 | 297,972 | 297,972 | - | - |
1/23/2020 | $1.81 | 380,186 | 318,975 | 61,211 | 61,211 |
2/8/2021 | $1.55 | 456,375 | 255,176 | 201,199 | 201,199 |
6/1/2022 | $0.32 | 1,521,568 | - | 1,521,568 | 1,521,568 |