GALECTO BIOTECH Aps CVR no. 34878366
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and
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1316 København K (the "CEO")
(each a "Party" and collectively referred to as the "Parties")
have today entered into this Retention Bonus Agreement (the "Retention Bonus Agreement") relating to the service agreement between the Parties, dated 23 April 2013 (the “Service Agreement”).
1.1Galecto, Inc., parent company of the Company (“Parent”), recently entered into that certain Agreement and Plan of Merger, effective November 10, 2025, pursuant to which Parent acquired Damora Therapeutics, Inc., a Delaware corporation, in an all-stock transaction (the “Transaction”). 1.2The Parties agree that the CEO will be entitled to receive a retention bonus on the terms and conditions outlined in this Retention Bonus Agreement. 2.1Subject to clause 2.2 below, the CEO will be entitled to receive a retention bonus (the “Retention Bonus”) equal to DKK 2,173,800 if he remains employed by the Company or an affiliate of the Company through the earlier of: (i) April 30, 2026; or
(ii) his termination by the Company without Cause (as defined in Galecto Inc.’s Executive Separation Benefits Plan (the “Executive Separation Benefits Plan”)) (the earlier of (i) or (ii) is the “Retention Date”). Payment of the Retention Bonus will be made within 30 days of the Retention Date.
2.2For the avoidance of doubt, if the CEO is not employed with the Company at the Retention Date, he will not be entitled to receive the Retention Bonus.
3.Other Terms and Conditions
3.1Subject to the Company’s withholding obligations, the Bonus Amounts (if any) shall constitute the gross amount payable by the Company to the CEO, hence, the Bonus Amounts shall be deemed to comprise all – and shall not generate any further salary-related payments, including but not limited to any pension contributions or benefits otherwise arising from or pertaining to the Bonus Amounts.
3.3The CEO’s general terms of employment under the Service Agreement will continue to apply unchanged. In addition, this Retention Bonus Agreement does not alter the CEO’s rights under the Executive Separation Benefits Plan or any prior retention compensation agreements between the CEO and the Company, including any severance rights thereunder. For the avoidance of doubt, the Retention Bonus
Agreement is in addition to, and does not supersede, that certain Retention Agreement between the Parties dated October 7, 2024.
5.Governing Law and Jurisdiction
5.1This Retention Bonus Agreement is governed by Danish law. The Parties once again confirm that the CEO is not comprised by the Danish Salaried Employees Act or the Danish Holiday Act.
5.2Any dispute arising out of or in connection with this Retention Bonus Agreement, including disputes regarding the existence, validity or termination thereof, shall be settled by the same venue, forum and procedure as the Service Agreement entered into between the CEO and the Company.
6.1The Retention Bonus Agreement will be appended to the Service Agreement.
6.2The Retention Bonus Agreement is prepared in duplicate, one for each Party.
Date: November 10, 2025 For GALECTO BIOTECH ApS
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▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, Chair of the Board of Galecto, Inc., parent company of Galecto Biotech ApS
Date: November 10, 2025
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