Exhibit 10.1
Tempest Therapeutics, Inc.
2000 Sierra Point Parkway, Suite 400
Brisbane, CA 94005
September 15, 2023
Via Email Only
[Redacted]
Tom Dubensky, Ph.D.
RE: SEPARATION AND CONSULTING AGREEMENT
Dear Tom:
This letter sets forth the substance of the separation and consulting agreement (the “Agreement”) that Tempest Therapeutics, Inc. (the “Company”) is offering to you to aid in your employment transition.
If the Consulting Period ends pursuant to Section 4(i)(ii) or (iii), you will be entitled to all Consulting Fees (or pro rata portion thereof) and equity vesting earned through the last date that you provide Consulting Services, but you shall not receive any Consulting Fees or compensation through December 15, 2023.
“A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”
You hereby expressly waive and relinquish all rights and benefits under that section and any law of any other jurisdiction of similar effect with respect to your release of claims herein, including but not limited to your release of unknown claims.
If this Agreement is acceptable to you, please sign below and return the original to me. You agree you have been offered at least twenty-one (21) calendar days to decide whether to accept this Agreement, and that you may choose to waive that period and sign earlier at your discretion. The Company’s offer contained herein will automatically expire if you do not sign and return it by October 6, 2023.
We wish you the best in your future endeavors.
Sincerely,
By: /s/ Stephen Brady
Stephen Brady
Chief Executive Officer
I have read, understand and agree fully to the foregoing Agreement:
/s/ Tom Dubensky
Tom Dubensky, Ph.D.
9/13/2023
Date
Exhibit A
SERVICES AND COMPENSATION
The manner and means that Consultant chooses to complete the Services are in Consultant’s sole discretion and control. Consultant agrees to provide Consultant’s own equipment, tools, and other materials at Consultant’s own expense; however, the Company will make its facilities and equipment available to Consultant as appropriate.