EXHIBIT 10.16
AKILI, INC.
SENIOR EXECUTIVE CASH INCENTIVE BONUS PLAN
This Senior Executive Cash Incentive Bonus Plan (the “Incentive Plan”) is intended to provide an incentive for superior work and to motivate eligible executives of Akili, Inc. (the “Company”) and its subsidiaries toward even higher achievement and business results, to tie their goals and interests to those of the Company and its stockholders and to enable the Company to attract and retain highly qualified executives. The Incentive Plan is for the benefit of Covered Executives (as defined below) effective as of August 19, 2022.
From time to time, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) may select certain key executives (the “Covered Executives”) to be eligible to receive bonuses hereunder. Participation in this Plan does not change the “at will” nature of a Covered Executive’s employment with the Company.
The Compensation Committee shall have the sole discretion and authority to administer and interpret the Incentive Plan.
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The Company reserves the right to amend or terminate the Incentive Plan at any time in its sole discretion.
A Covered Executive’s rights with respect to any award granted pursuant to the Incentive Plan shall in all events be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with (i) any
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right that the Company may have under any Company clawback, forfeiture or recoupment policy as in effect from time to time or other agreement or arrangement with a Covered Executive, or (ii) applicable law.
Adopted effective upon the closing of the transactions contemplated by that certain Agreement and Plan of Merger, dated as of January 26, 2022, by and among Akili Interactive Labs, Inc., Social Capital Suvretta Holdings Corp. I, and the other parties party thereto.
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