Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 24, 2022, Zai Lab Limited (the "Company") entered into a Severance
Agreement and General Release (the "Agreement") with Dr. Alan Sandler who
provided notice that he is resigning from the Company, effective October 28,
2022, to pursue another professional opportunity. There were no disagreements
between Dr. Sandler and the Company relating to the Company's operations,
policies, or practices that resulted in Dr. Sandler's resignation. In light of
Dr. Sandler's commitment and contributions to the Company, including its
oncology programs and pipeline, long-term strategy, business development
opportunities, and assistance with transitional and other standard services, the
Agreement provides Dr. Sandler with a payment equal to his annual base salary, a
pro-rated bonus, and a low six-figure additional severance payment.
The foregoing description of the terms of the Agreement does not purport to be
complete and is qualified in its entirety by reference to the full text of the
Agreement, which the Company intends to file as an exhibit to a subsequent
periodic report or an amendment to this Current Report on Form 8-K.
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