[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) is the type that the Registrant treats as private or confidential.
Exhibit 10.16
CONSULTING AGREEMENT
This Consulting Agreement (the “Agreement”) is effective as of January 1, 2021 (the “Effective Date”), and is made by and between Frank McCormick (“Consultant”), an individual located at [***] (“Company”), a Delaware corporation located at 421 Kipling Street, Palo Alto, California 94301, on behalf of itself and its Affiliates (as defined below), each a “Party” and collectively the “Parties.” The Parties hereby agree as follows.
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Company shall own all right, title and interest (including all intellectual property rights of any sort throughout the world) relating to any and all inventions, works of authorship, designs, knowhow, ideas and information made or conceived or reduced to practice, in whole or in part, by or for or on behalf of Consultant during the term of this Agreement that relate to the subject matter of or arise out of or in connection with the Services or any Proprietary Information (as defined below), except to the extent belonging to an Institution under the Applicable Policies (collectively, “Inventions”) and Consultant will promptly disclose and provide all Inventions to Company. Consultant agrees not to perform activities for Company that are: within the course and scope of Consultant’s employment with Institution; utilizing any Institution research facilities; or utilizing any gift, grant, or contract research funds received through the Institution.
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ACCEPTED AND AGREED TO:
BridgeBio Pharma, Inc. Frank McCormick
By: /s/ Neil Kumar /s/ Frank McCormick
Name: Neil Kumar Date: March 3, 2021
Title: Founder / CEO
Date: March 4, 2021
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EXHIBIT A
1. Services. Consultant shall provide consulting services to the Company generally in the area of oncology and pipeline development matters.
2. Fees and Payment Terms. Company shall pay Consultant an annual rate of $500,000.00 for the Services, payable on the 1st of each calendar year. For 2021, the annual rate will be pro-rated at $433,333.33.
3. Reimbursable Expenses. So long as Company’s prior written approval has been obtained, Consultant shall be entitled to be reimbursed for any reasonable, out-of-pocket travel, lodging and incidental travel expenses incurred in performing the Services, as evidenced by a valid receipt.
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EXHIBIT B
UNIVERSITY OF CALIFORNIA STATE OATH OF ALLEGIANCE. PATENT POLICY, AND PATENT ACKNOWLEDGMENT