Pursuant to the Egholm Letter, Dr. Egholm received a one-time “staking grant” of nonqualified stock options (the “Egholm Option Award”) to purchase 4,529,773 shares of the Company’s common stock with a per share exercise price of $3.99. 25% of the shares subject to this award vested on the first anniversary of the vesting commencement date, and the remaining 75% vests in equal monthly installments over the next three years, subject to his continued employment with the Company, other than in the event of his Death/Disability as described below.
In addition, pursuant to the Egholm Letter, Dr. Egholm received a “staking grant” of 786,049 RSUs (the “Egholm RSU Award”). 25% of the Egholm RSU Award vested on the first anniversary of the vesting commencement date, and the remaining 75% vests in equal annual installments over the next three years, subject to his continued employment with the Company, other than in the event of his Death/Disability as described below. Additionally, effective as of Dr. Egholm’s start date he received an additional grant of 632 RSUs, which have the same vesting terms as indicated above with respect to the Egholm RSU Award.
If Dr. Egholm’s employment is terminated due to his death or “disability” (as defined in the 2023 Standard BioTools Severance Plan) (“Death/Disability”), a number of unvested shares underlying the Egholm Option Award and the Egholm RSU Award (if any), that otherwise would vest during the period between the termination date and the one-year anniversary of the termination date immediately will vest.
Dr. Egholm participates in the 2023 Standard BioTools Severance Plan, as discussed below.
Offer Letter with Mr. Kim. In January 2022, the Company entered into an agreement with Mr. Kim pursuant to which he was appointed the Company’s Chief Operating Officer (the “Kim Letter”) on April 4, 2022. Mr. Kim has served as the Company’s Chief Financial Officer since November 11, 2024, after previously serving as Interim Chief Financial Officer since September 1, 2024.
Pursuant to the Kim Letter, Mr. Kim serves the Company on an at-will basis, his annual base salary was $400,000 in 2022 (which was increased to $440,000 effective as of April 1, 2023, increased to $500,000 effective as of April 1, 2024, increased to $515,000 as of April 1, 2025, and again increased to $530,450 as of April 1, 2026), and he was eligible to receive an annual bonus with a target level of 55% of his base salary in 2023 (which was increased to 60% effective as of April 1, 2024 and increased to 80% effective as of January 1, 2025). In addition, the Company agreed to reimburse Mr. Kim for relocation expenses up to $150,000.
Pursuant to the Kim Letter, Mr. Kim received nonqualified stock options (the “Kim Option Award”) to purchase 1,617,775 shares of common stock, with an exercise price per share of $3.99. 25% of the shares subject to the Kim Option Award vested on the first anniversary of Mr. Kim’s start date, and the remaining 75% vests in equal monthly installments over the next three years, subject to his continued employment with the Company, other than in the event of his Death/Disability as described below.
In addition, pursuant to the Kim Letter, Mr. Kim received 280,732 RSUs (the “Kim RSU Award”). 25% of the Kim RSU Award vested on the first anniversary of the vesting commencement date and the remaining 75% vests in equal annual installments over three years, subject to his continued employment with the Company, other than in the event of his Death/Disability as described below.
If Mr. Kim’s employment is terminated due to his death or “disability” (as defined in the 2024 Standard BioTools Severance Plan), a number of unvested shares underlying the Kim Option Award and Kim RSU Award (if any) that otherwise would vest during the period between the termination date and the one-year anniversary of the termination date immediately will vest.
Mr. Kim participates in the 2024 Standard BioTools Severance Plan, as discussed below.
Offer Letter with Mr. Mackay. In May 2024, the Company entered into an agreement with Mr. Mackay pursuant to which he was appointed Chief Business Officer of the Company (the “Mackay Letter”) on May 20, 2024.
Pursuant to the Mackay Letter, Mr. Mackay serves as the Company’s Chief Business Officer on an at-will basis, his 2024 annual base salary was $475,000 (which was increased to $489,250 effective as of April 1, 2025 and again increased to $503,927 as of April 1, 2026), and he is eligible to receive an annual bonus with a target level of 60% of his base salary.
