Equity
You were previously granted certain equity awards from the Company and Structure Therapeutics Inc. (the “Cayman Parent”), which will continue to be governed by the applicable equity awards grant documents and equity incentive plan(s). As part of this offer of continued employment, subject to approval by the Board of Directors (the “Board”) or the Compensation Committee of the Board of Cayman Parent, following your Start Date, you will be granted (i) an option to purchase 111,000 ordinary shares (37,000 ADSs) of the Cayman Parent (the “Option”) and (ii) a restricted share unit award in respect of 90,600 ordinary shares (30,200 ADSs) of the Cayman Parent (the “RSUs”). The Option (including determination of the exercise price) and RSUs will be governed by the terms and conditions of the Cayman Parent’s 2023 Equity Incentive Plan (the “Plan”) and the applicable award agreement thereunder. The Option will vest over four years, with 1/4th of the shares vesting on the one-year anniversary of the vesting commencement date and the remaining shares vesting in 36 equal monthly installments thereafter, subject to your Continuous Service (as defined in the Plan) through each such date. The RSUs will vest over four years, with 1/4th of the shares vesting on each of the first, second, third and fourth anniversaries of the vesting commencement date, subject to your Continuous Service through each such date. The vesting commencement dates applicable to the Option and RSUs will be specified in your award agreements.
Severance
You will be eligible to participate in the Structure Therapeutics Inc. Severance and Change in Control Plan, pursuant to the terms and conditions set forth therein, and provided that the Company and you execute a Participation Agreement (as defined and set forth in such plan).
Confidential Information and Company Policies
As a Company employee, you will be expected to abide by Company rules and policies. As a condition of continued employment, you agree to sign and abide by the Company’s Employee Confidential Information and Inventions Assignment Agreement (the “Confidentiality Agreement”), attached hereto as Exhibit A.
By signing this letter, you are representing that you have full authority to accept this position and perform the duties of the position without conflict with any other obligations and that you are not involved in any situation that might create, or appear to create, a conflict of interest with respect to your loyalty or duties to the Company. You specifically warrant that you are not subject to an employment agreement or restrictive covenant preventing full performance of your duties to the Company. You agree not to bring to the Company or use in the performance of your responsibilities at the Company any materials or documents of a former employer that are not generally available to the public, unless you have obtained express written authorization from the former employer for their possession and use. You also agree to honor all obligations to former employers during your employment with the Company.
At-Will Employment and Exempt Status
Your employment with the Company will be “at-will,” except where prohibited by state law. You may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at any time, with or without cause or advance notice. Your employment at-will status can only be modified in a written agreement signed by you and by a duly authorized officer of the Company.
As a full-time exempt salaried employee, you will be expected to work the Company’s normal business hours as well as additional hours as required by the nature of your work assignments, and you will not be eligible for overtime compensation.
