Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with the reduction in force of Jounce Therapeutics, Inc. (the
"Company") and as previously disclosed in the Company's Current Report on Form
8-K filed on February 23, 2023, Elizabeth Trehu, M.D., the Company's chief
medical officer, is expected to resign from her role at the Company as of a date
that was not determinable at the time of such disclosure.
On March 26, 2023, the Company determined in connection with its further
reduction in force disclosed in the Company's Current Report on Form 8-K filed
on March 27, 2023 that the effective date of Dr. Trehu's termination will be
April 1, 2023.
Additionally, on March 26, 2023, the board of directors of the Company approved
the amendment of each of Dr. Trehu's Employment Agreement, dated as of January
6, 2017 and as amended on January 27, 2023, Kim Drapkin's Employment Agreement,
dated as of January 6, 2017and as amended on January 27, 2023, and Richard
Murray's Employment Agreement, dated as of January 6, 2017 and as amended on
January 27, 2023 (collectively, the "Executive Employment Agreements") to
provide that any amounts payable to each executive under Section 6(a) and (b) of
the applicable Executive Employment Agreement may be paid in a lump sum
(collectively, the "Amendments"). The foregoing description of the Amendments is
qualified in its entirety by reference to the Amendments, which will be filed as
exhibits to the Company's Quarterly Report on Form 10-Q for the quarter ending
March 31, 2023.
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