On July 30, 2021, the Board of Directors of Assembly Biosciences, Inc. approved executive promotion and role expansions, of which became effective August 1, 2021. Jason A. Okazaki, 45, has been promoted to the position of Chief Operating Officer. In connection with his promotion to Chief Operating Officer, Mr. Okazaki will retain his responsibilities as Chief Legal and Business Officer while adding responsibility for the Company’s operations, including investor outreach, information technology, facilities and other general and administrative functions within the business. Pursuant to his promotion to Chief Operating Officer, the Company. In addition, if Mr. Okazaki’s employment is terminated by the Company due to his disability or without cause or by him for good reason (in each case as defined in the Amended Employment Agreement) within 12 months immediately following a change of control, provided that he signs and does not revoke a general release of claims against the Company, the Company will provide Mr. Okazaki the following benefits: (1) a lump sum payment equal to 15 months of his then-current base salary; (2) an amount equal to his full target annual bonus for the year in which the termination occurred; (3) immediate vesting in full of all equity awards held by Mr. Okazaki that are subject to time-based vesting; and (4) if Mr. Okazaki properly elects COBRA, reimbursement of the portion of the COBRA premiums that the Company would have paid had he remained employed for 15 months following termination or the end of his COBRA continuation period, whichever is earlier; provided, however, the Company’s obligation to pay such premiums will terminate earlier if he becomes eligible for insurance benefits from another employer during such period.