Exhibit 10.14
DESIGN THERAPEUTICS, INC.
CONSULTING AGREEMENT
This Consulting Agreement (the “Agreement”) is entered into as of November 22, 2023, (the “Effective Date”) by and between Design Therapeutics, Inc., a Delaware corporation (the “Client”), and Rodney Lappe, Ph.D. (“Consultant”).
Whereas, the Client desires to retain Consultant as an independent contractor to perform consulting services for the Client and Consultant is willing to perform such services, on the terms described below.
Agreement
Now, Therefore, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
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DSGN Consulting Agreement_Revised 4/21
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If to the Client, to:
Design Therapeutics, Inc. |
6005 Hidden Valley Road, Suite 110 Carlsbad, CA 92011 Attn: Legal Department |
If to Consultant, to:
The address for notice on the signature page to this Agreement or, if no such address is provided, to the last address of Consultant provided by Consultant to the Client.
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[Remainder of Page Intentionally Left Blank]
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In Witness Whereof, the parties hereto have executed this Consulting Agreement as of the date first written above.
CONSULTANT |
| design therapeutics, Inc. | ||
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By: | /s/Rodney Lappe |
| By: | /s/Sean Jeffries |
Name: | Rodney Lappe, Ph.D. |
| Name: | Sean Jeffries, Ph.D. |
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| Title: | Chief Operating Officer |
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[Signature Page to Consulting Agreement]
137981413 v2
EXHIBIT A
Project Assignment Under Consulting Agreement
Project:
Consultant will render such services as Client may from time to time request, including, without limiting the generality of the foregoing:
Provide general advice with respect to Client’s research and development efforts
Consultant’s main contact on the project is: Pratik Shah, PhD.
Fees And Reimbursement:
Cash Fee: None
Equity Compensation: Pursuant to Client’s 2021 Equity Incentive Plan (the “Plan”), Client shall grant Consultant an option to purchase shares of Client’s common stock at the fair market value as determined by the Board of Directors of Client as of the date of grant (the “Option”). The number of shares subject to the Option will be the lower of (i) the number that results in a grant date fair value of the option equal to, as near as possible, $119,000, using Black-Scholes option pricing formula at the time of grant and (ii) 100,000 shares. Provided that Consultant remains in Continuous Service (as defined in the Plan) of Client through each applicable vesting date, 25% of shares underlying the Option will vest twelve months after November 1st, 2023, with the remaining shares vesting in equal monthly installments thereafter over the next 36 months, until either the Option is fully vested or the provision of Services under this Agreement ends, whichever occurs first. The Option will be subject to the terms and conditions of the Plan and the Consultant’s stock option agreement thereunder.
Consultant will invoice Client monthly for services and expenses and will provide such reasonable receipts or other documentation of expenses as Client might request, including copies of time records.
Payment terms: net 30 days from receipt of invoice. Client will be invoiced on the first day of each month for services rendered and expenses incurred during the previous month.