EX-10.2





 Exhibit 10.2 

CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 

SECTION 1. GENERAL PURPOSE OF THE PLAN; DEFINITIONS 

The Plan’s purpose is to enhance the Company’s ability to attract, retain and motivate persons who make (or are expected to make)
important contributions to the Company by providing these individuals with equity ownership opportunities. 
 SECTION 2. ADMINISTRATION OF PLAN;
ADMINISTRATOR AUTHORITY TO SELECT PARTICIPANTS AND DETERMINE AWARDS 
 (a)    Administration of Plan. The Plan
shall be administered by the Administrator. 
 (b)    Powers of Administrator. The Administrator shall have the
power and authority to grant Awards consistent with the terms of the Plan, including the power and authority: 

(i)    to select the individuals to whom Awards may be granted; 

(ii)    to determine the time or times of grant, and the extent, and any combination of Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Restricted Stock Units, Unrestricted Stock Awards, Cash-Based Awards, and Dividend Equivalent Rights; 

(iii)    to determine the number of shares of Stock to be covered by any Award; 

(iv)    to determine and modify the terms and conditions, including restrictions, of any Award, which terms and conditions
may differ among individual Awards and Participants, and to approve the forms of Award Agreements; 
 (v)    to
accelerate at any time the exercisability or vesting of all or any portion of any Award; 
 (vi)    subject to the
provisions of Section 5(c), to extend at any time the period in which Stock Options may be exercised; 

(vii)    to take all actions and make all determinations under the Plan; to interpret the Plan and Award Agreements, to
adopt and amend and repeal Plan administrative rules, guidelines and practices as it deems advisable; and 

(viii)    to correct defects and ambiguities, supply omissions and reconcile inconsistencies in the Plan or any Award as
it deems necessary or appropriate to administer the Plan and any Awards. 
 The Administrator’s determinations under the Plan are in its sole
discretion and will be final and binding on all persons having or claiming any interest in the Plan or any Award. 












 (c)    Delegation of Authority to Grant Awards. Subject to
applicable law, the Administrator, in its discretion, may delegate to a committee consisting of one or more officers of the Company including the Chief Executive Officer of the Company all or part of the Administrator’s authority and duties
with respect to the granting of Awards to individuals who are (i) not subject to the reporting and other provisions of Section 16 of the Exchange Act and (ii) not members of the delegated committee. The Administrator may revoke or
amend the terms of a delegation at any time but such action shall not invalidate any prior actions of the Administrator’s delegate or delegates that were consistent with the terms of the Plan. 

(d)    Award Agreement. Awards under the Plan shall be evidenced by Award Agreements that describe the terms,
conditions and limitations for each Award which may include, without limitation, the term of an Award and the provisions applicable in the event employment or service terminates. 

(e)    Indemnification. Notwithstanding any other provisions of the Plan, no individual acting as director,
officer, other employee or agent of the Company or any Subsidiary will be liable to any Participant, former Participant, spouse, beneficiary, or any other person for any claim, loss, liability, or expense incurred in connection with the Plan or any
Award, and such individual will not be personally liable with respect to the Plan because of any contract or other instrument executed in his or her capacity as an Administrator, director, officer or other agent of the Company or any Subsidiary. The
Company will indemnify and hold harmless each director, officer, or other agent of the Company or any Subsidiary that has been or will be granted or delegated any duty or power relating to the Plan’s administration or interpretation, against
any cost or expense (including attorney’s fees) or liability (including any sum paid in settlement of a claim with the Administrator’s approval) arising from any act or omission concerning this Plan, unless arising from such person’s
own fraud or bad faith. 
 (f)    Provisions for Foreign Award Participants. The Administrator may modify Awards
granted to Participants who are foreign nationals or employed outside of the United States or establish subplans or procedures under the Plan to address differences in laws, rules, regulations or customs of such foreign jurisdictions with respect to
tax, securities, currency, employee benefit or other matters. Notwithstanding the foregoing, the Administrator may not take any actions hereunder, and no Awards shall be granted, that would violate the Exchange Act or any other applicable United
States securities law, the Code, or any other applicable United States governing statute or law. 
 SECTION 3. STOCK ISSUABLE UNDER THE PLAN; MERGERS;
SUBSTITUTION 
 (a)    Number of Shares. Subject to adjustment under Sections 3(e) and 3(f) and the terms of
this Section 3, Awards may be made under the Plan covering up to the Overall Share Limit. As of the Plan’s Effective Date, the Company will cease granting awards under the Prior Plan; however, Prior Plan awards will remain subject to the
terms of the Prior Plan. Shares issued under the Plan may consist of authorized but unissued Stock, Stock purchased on the open market or treasury Stock. 

(b)    The maximum aggregate number of shares of Stock that may be issued in the form of Incentive Stock Options shall not
exceed 10,000,000 shares of Stock. 

  
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 (c)    Share Recycling. The shares of Stock underlying any awards
under the Plan and under the Company’s 2015 Stock Option and Grant Plan that are forfeited, canceled, held back upon exercise of an Option or settlement of an Award to cover the exercise price or tax withholding, reacquired by the Company prior
to vesting, satisfied without the issuance of Stock or otherwise terminated (other than by exercise) shall be added back to the shares of Stock available for issuance under the Plan. In the event the Company repurchases shares of Stock on the open
market, such shares shall not be added to the shares of Stock available for issuance under the Plan. To the extent an Award under the Plan is paid out in cash rather than shares of Stock, such cash payment will not result in reducing the number of
shares of Stock available for issuance under the Plan. 
 (d)    Maximum Awards to
Non-Employee Directors. Notwithstanding anything to the contrary in this Plan, the value of all Awards awarded under this Plan and all other cash compensation paid by the Company to any Non-Employee Director in any calendar year shall not exceed $500,000 or $750,000 during the first year of appointment. For the purpose of this limitation, the value of any Award shall be its grant date fair value,
as determined in accordance with ASC 718 or successor provision but excluding the impact of estimated forfeitures related to service-based vesting provisions. 

(e)    Equity Restructuring. In connection with any Equity Restructuring, subject to Section 3(f), the
Administrator will equitably adjust the maximum number of shares reserved for issuance under the Plan, including the maximum number of shares that may be issued as Incentive Stock Options, and each outstanding Award as it deems appropriate to
reflect the Equity Restructuring, which may include adjusting the number and type of securities subject to each outstanding Award and/or the Award’s exercise price or grant price (if applicable), granting new Awards to Participants, and making
a cash payment to Participants. The adjustments provided under this Section 3(e) will be non-discretionary and final and binding on the affected Participants and the Company; provided that the
Administrator will determine whether an adjustment is equitable. 
 (f)    Sale Events. In the case of a consummated Sale Event, the Administrator shall have the option (in its sole discretion) to take any of the following actions (without the consent of a Participant) to facilitate such
transaction: 
 (i)    approve or otherwise cause the assumption or continuation of Awards, or the substitution of such
Awards with new Awards of the successor entity or parent thereof, with appropriate adjustment as to the number and kind of shares; 

(ii)    make or provide for a payment, in cash or in kind, to the Participants holding Options and Stock Appreciation
Rights, in exchange for the cancellation thereof, an amount equal to the difference between (A) the Sale Price multiplied by the number of shares of Stock subject to outstanding Options and Stock Appreciation Rights (to the extent then vested,
after giving effect to any discretionary acceleration under Section 2(b)(v), any acceleration herein and any acceleration contained in an Award Agreement, at prices not in excess of the Sale Price) and (B) the aggregate exercise price of
all such outstanding Options and Stock Appreciation Rights (provided that, in the case of an Option or Stock Appreciation Right with an exercise price equal to or greater than the Sale Price, such Option or Stock Appreciation Right shall be
cancelled for no consideration); 

  
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 (iii)    permit each Participant, within a specified period of time
prior to the consummation of the Sale Event as determined by the Administrator, to exercise all outstanding Options and Stock Appreciation Rights (to the extent then exercisable, after giving effect to any discretionary acceleration under
Section 2(b)(v), any acceleration herein and any acceleration contained in an Award Agreement) held by such Participant after which all unexercised Options and Stock Appreciation Rights shall terminate; 

(iv)    make or provide for a payment, in cash or in kind, to the Participants holding Awards other than Options and Stock
Appreciation Rights, in exchange for the cancellation thereof, an amount equal to the Sale Price multiplied by the number of vested shares of Stock underlying such Awards (after giving effect to any discretionary acceleration under
Section 2(b)(v), any acceleration herein and any acceleration contained in an Award Agreement); or 
 (v)    any
combination of the foregoing. 
 Notwithstanding anything to the contrary in this Plan, to the extent that Awards are not assumed,
substituted or continued by the Company or its successor in a Sale Event, all Options and Stock Appreciation Rights with time-based vesting conditions or restrictions that are not vested and/or exercisable immediately prior to the effective time of
the Sale Event shall become fully vested and exercisable as of the effective time of the Sale Event, all other Awards with time-based vesting, conditions or restrictions shall become fully vested and nonforfeitable as of the effective time of the
Sale Event, and all Awards with conditions and restrictions relating to the attainment of performance goals may become vested and nonforfeitable in connection with a Sale Event in the Administrator’s discretion or to the extent specified in the
relevant Award Agreement. 
 SECTION 4. ELIGIBILITY 

Participants under the Plan will be such employees, Non-Employee Directors and Consultants of the
Company and its Affiliates as are selected from time to time by the Administrator in its sole discretion. 
 SECTION 5. STOCK OPTIONS 

(a)    Award of Stock Options. The Administrator may grant Stock Options under the Plan. Any Stock Option granted
under the Plan shall be in such form as approved by the Administrator. 
 Stock Options granted under the Plan may be either Incentive Stock
Options or Non-Qualified Stock Options. Incentive Stock Options may be granted only to employees of the Company or any Subsidiary that is a “subsidiary corporation” within the meaning of
Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock Option, it shall be deemed a Non-Qualified Stock Option. 

  
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 If the Administrator so determines, Stock Options may be granted in lieu of cash
compensation at the Participant’s election, subject to such terms and conditions as the Administrator may establish. Stock Options granted pursuant to this Section 5 shall be subject to the following terms and conditions. 

(b)    Exercise Price. The Administrator will establish each Option’s exercise price and specify the exercise
price in the Award Agreement. The exercise price will not be less than 100% of the fair market value on the grant date of the Option. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the exercise price of such
Incentive Stock Option shall be not less than 110 percent of the Fair Market Value on the grant date. Notwithstanding the foregoing, Stock Options may be granted with an exercise price per share that is less than 100 percent of the Fair
Market Value on the date of grant pursuant to a transaction described in, and in a manner consistent with, Section 424(a) of the Code. 

(c)    Option Term. The term of each Stock Option shall be fixed by the Administrator, but no Stock Option shall be
exercisable more than ten years after the date the Stock Option is granted. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the term of such Stock Option shall be no more than five years from the date of grant. 

(d)    Exercisability; Rights of a Stockholder. Stock Options shall become exercisable at such time or times,
whether or not in installments, as shall be determined by the Administrator at or after the grant date. The Administrator may at any time accelerate the exercisability of all or any portion of any Stock Option. A Participant shall have the rights of
a stockholder only as to shares acquired upon the exercise of a Stock Option and not as to unexercised Stock Options. 

(e)    Method of Exercise. Stock Options may be exercised in whole or in part, by giving written or electronic
notice of exercise to the Company, specifying the number of shares to be purchased. Payment of the purchase price may be made by one or more of the following methods except to the extent otherwise provided in the Option Award Agreement: 

(i)    in cash, by certified or bank check or other instrument acceptable to the Administrator; 

(ii)    through the delivery (or attestation to the ownership following such procedures as the Company may prescribe) of
shares of Stock that are not then subject to restrictions under any Company plan. Such surrendered shares shall be valued at Fair Market Value on the exercise date; 

(iii)    by the Participant delivering to the Company a properly executed exercise notice together with irrevocable
instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company for the purchase price; provided that in the event the Participant chooses to pay the purchase price as so provided, the Participant
and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Company shall prescribe as a condition of such payment procedure; or 

(iv)    with respect to Stock Options that are not Incentive Stock Options, by a “net exercise” arrangement
pursuant to which the Company will reduce the number of shares of Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. 

  
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 Payment instruments will be received subject to collection. The transfer to the Participant
on the records of the Company or of the transfer agent of the shares of Stock to be purchased pursuant to the exercise of a Stock Option will be contingent upon receipt from the Participant (or a purchaser acting in his stead in accordance with the
provisions of the Stock Option) by the Company of the full purchase price for such shares and the fulfillment of any other requirements contained in the Option Award Agreement or applicable provisions of laws (including the satisfaction of any
withholding taxes that the Company is obligated to withhold with respect to the Participant). In the event a Participant chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of
Stock transferred to the Participant upon the exercise of the Stock Option shall be net of the number of attested shares. In the event that the Company establishes, for itself or using the services of a third party, an automated system for the
exercise of Stock Options, such as a system using an internet website or interactive voice response, then the paperless exercise of Stock Options may be permitted through the use of such an automated system. 

(f)    Annual Limit on Incentive Stock Options. To the extent required for “incentive stock option”
treatment under Section 422 of the Code, the aggregate Fair Market Value (determined as of the time of grant) of the shares of Stock with respect to which Incentive Stock Options granted under this Plan and any other plan of the Company or its
parent and subsidiary corporations become exercisable for the first time by an Participant during any calendar year shall not exceed $100,000. To the extent that any Stock Option exceeds this limit, it shall constitute a Non-Qualified Stock Option. 
 SECTION 6. STOCK APPRECIATION RIGHTS 

(a)    Award of Stock Appreciation Rights. The Administrator may grant Stock Appreciation Rights under the Plan.

 (b)    Exercise Price of Stock Appreciation Rights. The exercise price of a Stock Appreciation Right shall not
be less than 100 percent of the Fair Market Value of the Stock on the date of grant. 
 (c)    Grant and
Exercise of Stock Appreciation Rights. Stock Appreciation Rights may be granted by the Administrator independently of any Stock Option granted pursuant to Section 5 of the Plan. 

(d)    Terms and Conditions of Stock Appreciation Rights. Stock Appreciation Rights shall be subject to terms and
conditions as determined on the date of grant by the Administrator and may differ among individual Awards and Participants. The term of a Stock Appreciation Right may not exceed ten years. 

SECTION 7. RESTRICTED STOCK AWARDS 

(a)    Nature of Restricted Stock Awards. The Administrator may grant Restricted Stock Awards under the Plan. 

  
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 (b)    Rights as a Stockholder. Upon the grant of the Restricted
Stock Award and payment of any applicable purchase price, a Participant shall have the rights of a stockholder with respect to the voting of the Restricted Shares and receipt of dividends; provided that if the lapse of restrictions with respect to
the Restricted Stock Award is tied to the attainment of performance goals, any dividends paid by the Company during the performance period shall accrue and shall not be paid to the Participant until and to the extent the performance goals are met.
Unless the Administrator otherwise determines, uncertificated Restricted Shares shall be accompanied by a notation on the records of the Company or the transfer agent to the effect that they are subject to forfeiture until such Restricted Shares are
vested as provided in Section 7(d) below, and the Participant shall be required, as a condition of the grant, to deliver to the Company such instruments of transfer as the Administrator may prescribe. 

(c)    Restrictions. Restricted Shares may not be sold, assigned, transferred, pledged or otherwise encumbered or
disposed of except as specifically provided herein or in the Restricted Stock Award Agreement. If a Participant’s employment (or other Service Relationship) with the Company and its Subsidiaries terminates for any reason, any Restricted Shares
that have not vested at the time of termination shall automatically and without any action on behalf of the Company, be deemed to have been reacquired by the Company at its original purchase price (if any) from such Participant or such
Participant’s legal representative simultaneously with such termination of employment (or other Service Relationship), and thereafter shall cease to represent any ownership of the Company by the Participant or rights of the Participant as a
stockholder. Following such deemed reacquisition of Restricted Shares that are represented by physical certificates, a Participant shall surrender such certificates to the Company upon request without consideration. 

(d)    Vesting of Restricted Shares. The Administrator at the time of grant shall specify the date or dates and/or
the attainment of pre-established performance goals, objectives and other conditions on which the non-transferability of the Restricted Shares and the Company’s
right of repurchase or forfeiture shall lapse. Subsequent to such date or dates and/or the attainment of such pre-established performance goals, objectives and other conditions, the shares on which all
restrictions have lapsed shall no longer be Restricted Shares and shall be deemed “vested.” 
 SECTION 8. RESTRICTED STOCK UNITS 

(a)    Nature of Restricted Stock Units. The Administrator may grant Restricted Stock Units under the Plan. A
Restricted Stock Unit is an Award of stock units that may be settled in shares of Stock (or cash, to the extent explicitly provided for in the Award Agreement) upon the satisfaction of such restrictions and conditions at the time of grant.
Conditions may be based on continuing employment (or other Service Relationship) and/or achievement of pre-established performance goals and objectives. The terms and conditions of each such Award shall be
determined by the Administrator, and such terms and conditions may differ among individual Awards and Participants. Except in the case of Restricted Stock Units with a deferred settlement date that complies with Section 409A, at the end of the
vesting period, the Restricted Stock Units, to the extent vested, shall be settled in the form of shares of Stock or cash if explicitly provided for in the Award Agreement. Restricted Stock Units with deferred settlement dates are subject to
Section 409A and shall contain such additional terms and conditions as the Administrator shall determine in its sole discretion in order to comply with the requirements of Section 409A. 

  
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 (b)    Election to Receive Restricted Stock Units in Lieu of
Compensation. The Administrator may permit a Participant to elect to receive a portion of future cash compensation otherwise due to such Participant in the form of an award of Restricted Stock Units. Any such election shall be made in writing
and shall be delivered to the Company no later than the date specified by the Administrator and in accordance with Section 409A and such other rules and procedures established by the Administrator. Any such future cash compensation that the
Participant elects to defer shall be converted to a fixed number of Restricted Stock Units based on the Fair Market Value of Stock on the date the compensation would otherwise have been paid to the Participant if such payment had not been deferred
as provided herein. The Administrator shall have the sole right to determine whether and under what circumstances to permit such elections and to impose such limitations and other terms and conditions thereon as the Administrator deems appropriate.
Any Restricted Stock Units that are elected to be received in lieu of cash compensation shall be fully vested, unless otherwise provided in the Award Agreement. 

(c)    Rights as a Stockholder. A Participant shall have the rights as a stockholder only as to shares of Stock
acquired by the Participant upon settlement of Restricted Stock Units; provided, however, that the Participant may be credited with Dividend Equivalent Rights with respect to the stock units underlying his Restricted Stock Units, subject to the
provisions of Section 11 and such terms and conditions as the Administrator may determine. 

(d)    Termination. Except as may otherwise be provided by the Administrator either in the Award Agreement or,
subject to Section 16 below, in writing after the Award is issued, a Participant’s right in all Restricted Stock Units that have not vested shall automatically terminate upon the Participant’s termination of employment (or cessation
of Service Relationship) with the Company and its Subsidiaries for any reason. 
 SECTION 9. UNRESTRICTED STOCK AWARDS 

Grant or Sale of Unrestricted Stock. The Administrator may grant (or sell at par value or such higher purchase price determined by the
Administrator) an Unrestricted Stock Award under the Plan. An Unrestricted Stock Award is an Award pursuant to which the Participant may receive shares of Stock free of any restrictions under the Plan. Unrestricted Stock Awards may be granted in
respect of past services or other valid consideration, or in lieu of cash compensation due to such Participant. 
 SECTION 10. CASH-BASED AWARDS 

Grant of Cash-Based Awards. The Administrator may grant Cash-Based Awards under the Plan. A Cash-Based Award is an Award that entitles
the Participant to a payment in cash upon the attainment of specified performance goals. The Administrator shall determine the maximum duration of the Cash-Based Award, the amount of cash to which the Cash-Based Award pertains, the conditions upon
which the Cash-Based Award shall become vested or payable, and such other provisions as the Administrator shall determine. Each Cash-Based 

  
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Award shall specify a cash-denominated payment amount, formula or payment ranges as determined by the Administrator. Payment, if any, with respect to a Cash-Based Award shall be made in
accordance with the terms of the Award and may be made in cash. 
 SECTION 11. DIVIDEND EQUIVALENT RIGHTS 

(a)    Dividend Equivalent Rights. The Administrator may grant Dividend Equivalent Rights under the Plan. A Dividend
Equivalent Right is an Award entitling the Participant to receive credits based on cash dividends that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other Award to which it relates) if such shares had
been issued to the Participant. A Dividend Equivalent Right may be granted hereunder to any Participant as a component of an award of Restricted Stock Units or as a freestanding Award. The terms and conditions of Dividend Equivalent Rights shall be
specified in the Award Agreement. Dividend equivalents credited to the holder of a Dividend Equivalent Right may be paid currently or may be deemed to be reinvested in additional shares of Stock, which may thereafter accrue additional equivalents.
Any such reinvestment shall be at Fair Market Value on the date of reinvestment or such other price as may then apply under a dividend reinvestment plan sponsored by the Company, if any. Dividend Equivalent Rights may be settled in cash or shares of
Stock or a combination thereof, in a single installment or installments. A Dividend Equivalent Right granted as a component of an Award of Restricted Stock Units shall provide that such Dividend Equivalent Right shall be settled only upon settlement
or payment of, or lapse of restrictions on, such other Award, and that such Dividend Equivalent Right shall expire or be forfeited or annulled under the same conditions as such other Award. 

(b)    Termination. Except as may otherwise be provided by the Administrator either in the Award Agreement or,
subject to Section 16 below, in writing after the Award is issued, a Participant’s rights in all Dividend Equivalent Rights shall automatically terminate upon the Participant’s termination of employment (or cessation of Service
Relationship) with the Company and its Subsidiaries for any reason. 
 SECTION 12. TRANSFERABILITY OF AWARDS 

(a)    Transferability. Except as provided in Section 12(b) below, during a Participant’s lifetime, his or
her Awards shall be exercisable only by the Participant, or by the Participant’s legal representative or guardian in the event of the Participant’s incapacity. No Awards shall be sold, assigned, transferred or otherwise encumbered or
disposed of by a Participant other than by will or by the laws of descent and distribution or pursuant to a domestic relations order. No Awards shall be subject, in whole or in part, to attachment, execution, or levy of any kind, and any purported
transfer in violation hereof shall be null and void. 
 (b)    Administrator Action. Notwithstanding
Section 12(a), the Administrator, in its discretion, may provide either in the Award Agreement regarding a given Award or by subsequent written approval that the Participant (who is an employee or director) may transfer his or her Non-Qualified Stock Options to his or her immediate family members, to trusts for the benefit of such family members, or to partnerships in which such family members are the only partners, provided that the
transferee agrees in writing with the Company to be bound by all of the terms and conditions of this Plan and the applicable Award. In no event may an Award be transferred by a Participant for value. 

  
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 (c)    Family Member. For purposes of Section 12(b),
“family member” shall mean a Participant’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Participant’s household (other than a tenant of the Participant), a trust in which these persons
(or the Participant) have more than 50 percent of the beneficial interest, a foundation in which these persons (or the Participant) control the management of assets, and any other entity in which these persons (or the Participant) own more than
50 percent of the voting interests. 
 (d)    Designation of Beneficiary. To the extent permitted by the
Company, each Participant to whom an Award has been made under the Plan may designate a beneficiary or beneficiaries to exercise any Award or receive any payment under any Award payable on or after the Participant’s death. Any such designation
shall be on a form provided for that purpose by the Administrator and shall not be effective until received by the Administrator. If no beneficiary has been designated by a deceased Participant, or if the designated beneficiaries have predeceased
the Participant, the beneficiary shall be the Participant’s estate. 
 SECTION 13. TAX WITHHOLDING 

(a)    Payment by Participant. Each Participant shall, no later than the date as of which the value of an Award or
of any Stock or other amounts received thereunder first becomes includable in the gross income of the Participant for income tax purposes, pay to the Company, or make arrangements satisfactory to the Administrator regarding payment of, any Federal,
state, or local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and its Subsidiaries shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind
otherwise due to the Participant. The Company’s obligation to deliver evidence of book entry (or stock certificates) to any Participant is subject to and conditioned on tax withholding obligations being satisfied by the Participant. 

(b)    Payment in Stock. The Administrator may require the Company’s tax withholding obligation to be
satisfied, in whole or in part, by the Company withholding from shares of Stock to be issued pursuant to any Award a number of shares with an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy the withholding
amount due; provided, however, that the amount withheld does not exceed the maximum statutory tax rate or such lesser amount as is necessary to avoid liability accounting treatment. For purposes of share withholding, the Fair Market Value of
withheld shares shall be determined in the same manner as the value of Stock includible in income of the Participants. The Administrator may also require the Company’s tax withholding obligation to be satisfied, in whole or in part, by an
arrangement whereby a certain number of shares of Stock issued pursuant to any Award are immediately sold and proceeds from such sale are remitted to the Company in an amount that would satisfy the withholding amount due. 

  
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 SECTION 14. SECTION 409A AWARDS 

Awards are intended to be exempt from Section 409A to the greatest extent possible and to otherwise comply with Section 409A. The
Plan and all Awards shall be interpreted in accordance with such intent. To the extent that any Award is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A (a “409A Award”), the
Award shall be subject to such additional rules and requirements as specified by the Administrator from time to time in order to comply with Section 409A. In this regard, if any amount under a 409A Award is payable upon a “separation from
service” (within the meaning of Section 409A) to a Participant who is then considered a “specified employee” (within the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier of
(i) six months and one day after the Participant’s separation from service, or (ii) the Participant’s death, but only to the extent such delay is necessary to prevent such payment from being subject to interest, penalties and/or
additional tax imposed pursuant to Section 409A. Further, the settlement of any 409A Award may not be accelerated except to the extent permitted by Section 409A. 

SECTION 15. TERMINATION OF SERVICE RELATIONSHIP, TRANSFER, LEAVE OF ABSENCE, ETC. 

(a)    Termination of Service Relationship. If the Participant’s Service Relationship is with an Affiliate and
such Affiliate ceases to be an Affiliate, the Participant shall be deemed to have terminated his or her Service Relationship for purposes of the Plan. 

(b)    For purposes of the Plan, the following events shall not be deemed a termination of a Service Relationship: 

(i)    a transfer to the employment of the Company from an Affiliate or from the Company to an Affiliate, or from one
Affiliate to another; or 
 (ii)    an approved leave of absence for military service or sickness, or for any other
purpose approved by the Company, if the employee’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the
Administrator otherwise so provides in writing. 
 SECTION 16. AMENDMENTS AND TERMINATION 

The Board may, at any time, amend or discontinue the Plan and the Administrator may, at any time, amend or cancel any outstanding Award for the
purpose of satisfying changes in law or for any other lawful purpose, but no such action shall materially and adversely affect rights under any outstanding Award without the holder’s consent. The Administrator is specifically authorized to
exercise its discretion to reduce the exercise price of outstanding Stock Options or Stock Appreciation Rights or effect the repricing of such Awards through cancellation and re-grants. To the extent required
under the rules of any securities exchange or market system on which the Stock is listed, to the extent determined by the Administrator to be required by the Code to ensure that Incentive Stock Options granted under the Plan are qualified under
Section 422 of the Code, Plan amendments shall be subject to approval by Company stockholders. Nothing in this Section 16 shall limit the Administrator’s authority to take any action permitted pursuant to Section 3(e) or 3(f).


  
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 SECTION 17. STATUS OF PLAN 

With respect to the portion of any Award that has not been exercised and any payments in cash, Stock or other consideration not received by a
Participant, a Participant shall have no rights greater than those of a general creditor of the Company unless the Administrator shall otherwise expressly determine in connection with any Award or Awards. In its sole discretion, the Administrator
may authorize the creation of trusts or other arrangements to meet the Company’s obligations to deliver Stock or make payments with respect to Awards hereunder, provided that the existence of such trusts or other arrangements is consistent with
the foregoing sentence. 
 SECTION 18. GENERAL PROVISIONS 

(a)    No Distribution. The Administrator may require each person acquiring Stock pursuant to an Award to represent
to and agree with the Company in writing that such person is acquiring the shares without a view to distribution thereof. 

(b)    Issuance of Stock. To the extent certificated, stock certificates to Participants under this Plan shall be
deemed delivered for all purposes when the Company or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed to the Participant, at the Participant’s last known address on file with the
Company. Uncertificated Stock shall be deemed delivered for all purposes when the Company or a Stock transfer agent of the Company shall have given to the Participant by electronic mail (with proof of receipt) or by United States mail, addressed to
the Participant, at the Participant’s last known address on file with the Company, notice of issuance and recorded the issuance in its records (which may include electronic “book entry” records). Notwithstanding anything herein to the
contrary, the Company shall not be required to issue or deliver any evidence of book entry or certificates evidencing shares of Stock pursuant to the exercise or settlement of any Award, unless and until the Administrator has determined, with advice
of counsel (to the extent the Administrator deems such advice necessary or advisable), that the issuance and delivery is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any
exchange on which the shares of Stock are listed, quoted or traded. Any Stock issued pursuant to the Plan shall be subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with federal,
state or foreign jurisdiction, securities or other laws, rules and quotation system on which the Stock is listed, quoted or traded. The Administrator may place legends on any Stock certificate or notations on any book entry to reference restrictions
applicable to the Stock. In addition to the terms and conditions provided herein, the Administrator may require that an individual make such reasonable covenants, agreements, and representations as the Administrator, in its discretion, deems
necessary or advisable in order to comply with any such laws, regulations, or requirements. The Administrator shall have the right to require any individual to comply with any timing or other restrictions with respect to the settlement or exercise
of any Award, including a window-period limitation, as may be imposed in the discretion of the Administrator. 

  
 12 













 (c)    Stockholder Rights. Until Stock is deemed delivered in
accordance with Section 18(b), no right to vote or receive dividends or any other rights of a stockholder will exist with respect to shares of Stock to be issued in connection with an Award, notwithstanding the exercise of a Stock Option or any
other action by the Participant with respect to an Award. 
 (d)    Other Compensation Arrangements; No Employment
Rights. Nothing contained in this Plan shall prevent the Board from adopting other or additional compensation arrangements, including trusts, and such arrangements may be either generally applicable or applicable only in specific cases. The
adoption of this Plan and the grant of Awards do not confer upon any employee any right to continued employment with the Company or any Subsidiary. 

(e)    Trading Policy Restrictions. Option exercises and other Awards under the Plan shall be subject to the
Company’s insider trading policies and procedures, as in effect from time to time. 
 (f)    Clawback
Policy. Awards under the Plan shall be subject to any of the Company’s clawback policies that may be adopted to comply with applicable law. 

SECTION 19. EFFECTIVE DATE OF PLAN 
 This
Plan shall become effective upon the date immediately preceding the Registration Date subject to prior stockholder approval in accordance with applicable state law, the Company’s bylaws and articles of incorporation, and applicable stock
exchange rules. No grants of Stock Options and other Awards may be made hereunder after the tenth anniversary of the Effective Date and no grants of Incentive Stock Options may be made hereunder after the tenth anniversary of the date the Plan is
approved by the Board. 
 SECTION 20. GOVERNING LAW 

This Plan and all Awards and actions taken thereunder shall be governed by, and construed in accordance with the General Corporation Law of the
State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, applied without regard to conflict of law principles.

 SECTION 21. DEFINITIONS 
 Capitalized
terms in the Plan are defined below. 
 “Act” means the Securities Act of 1933, as amended, and the rules and
regulations thereunder. 
 “Administrator” means either the Board or the compensation committee of the Board or a similar
committee performing the functions of the compensation committee and which is comprised of not less than two Non-Employee Directors who are independent. 

  
 13 













 “Affiliate” means, at the time of determination, any “parent” or
“subsidiary” of the Company as such terms are defined in Rule 405 of the Act. The Board will have the authority to determine the time or times at which “parent” or “subsidiary” status is determined within the foregoing
definition. 
 “Award” or “Awards,” except where referring to a particular
category of grant under the Plan, shall include Incentive Stock Options, Non-Qualified Stock Options, Stock Appreciation Rights, Restricted Stock Units, Restricted Stock Awards, Unrestricted Stock Awards,
Cash-Based Awards, and Dividend Equivalent Rights. 
 “Award Agreement” means a written or electronic
document setting forth the terms and provisions applicable to an Award granted under the Plan. Each Award Agreement is subject to the terms and conditions of the Plan. 

“Board” means the Board of Directors of the Company. 

“Cash-Based Award” means an Award entitling the recipient to receive a cash-denominated payment. 

“Cause” is defined as a termination due to (i) any material breach by the Participant of any agreement
between the Participant and the Company; (ii) the conviction of, indictment for or plea of nolo contendere by the Participant to a felony or a crime involving moral turpitude; or (iii) material misconduct, including any material violation
of the Company’s Code of Conduct Policy, or willful and deliberate non-performance (other than by reason of disability) by the Participant of the Participant’s duties to the Company. 

“Code” means the Internal Revenue Code of 1986, as amended, and any successor Code, and related rules,
regulations and interpretations. 
 “Company” means Codiak BioSciences, Inc., a Delaware corporation. 

“Consultant” means a consultant or adviser who provides bona fide services to the Company or an
Affiliate as an independent contractor and who qualifies as a consultant or advisor under Instruction A.1.(a)(1) of Form S-8 under the Act. 

“Disability” means permanent and total disability under Section 22(e)(3) of the Code, as amended. 

“Dividend Equivalent Right” means an Award entitling the Participant to receive credits based on cash dividends
that would have been paid on the shares of Stock specified in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the Participant. 

“Effective Date” means the date on which the Plan becomes effective as set forth in Section 19. 

“Equity Restructuring” means (i) any reorganization, recapitalization, reclassification, stock dividend,
stock split, reverse stock split or other similar change in the Company’s capital 

  
 14 













 
stock in which the outstanding shares of Stock are increased or decreased or are exchanged for a different number or kind of shares or other securities of the Company, or additional Stock or new
or different shares or other securities of the Company or other non-cash assets are distributed with respect to such shares of Stock or other securities, in each case, without receipt of consideration by the
Company, or (ii) any merger or consolidation or sale of all or substantially all of the assets of the Company, in which the outstanding shares of Stock are converted into or exchanged for other securities of the Company or any successor entity
(or a parent or subsidiary thereof). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and the rules and regulations thereunder. 
 “Fair Market Value” of the Stock on any given date means the
fair market value of the Stock determined in good faith by the Administrator; provided, however, that if the Stock is listed on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”), NASDAQ Global Market, The
New York Stock Exchange or another national securities exchange or traded on any established market, the determination shall be made by reference to market quotations. If there are no market quotations for such date, the determination shall be made
by reference to the last date preceding such date for which there are market quotations; provided further, however, that if the date for which Fair Market Value is determined is the Registration Date, the Fair Market Value shall be the “Price
to the Public” (or equivalent) set forth on the cover page for the final prospectus relating to the Company’s initial public offering. 

“Incentive Stock Option” means any Stock Option designated and qualified as an “incentive stock
option” as defined in Section 422 of the Code. 
 “Non-Employee Director”
means a member of the Board who is not also an employee of the Company or any Subsidiary. 

“Non-Qualified Stock Option” means any Stock Option that is not an Incentive Stock
Option. 
 “Option” or “Stock Option” means any option to purchase shares of
Stock granted pursuant to Section 5. 
 “Overall Share Limit” means the sum of (i) 1,043,402 shares of
Stock; (ii) any shares of Stock which are subject to Prior Plan awards which become available for issuance under the Plan pursuant to Section 3(c) and (iii) an annual increase on the first day of each calendar year beginning
January 1, 2021 and ending on and including January 1, 2030, equal to the lesser of (A) five percent (5%) of the aggregate number of shares of Stock outstanding on the final day of the immediately preceding calendar year and
(B) such lesser number of shares as determined by the Administrator.  

“Participant” means any employee, Non-Employee Director, or Consultant of the Company
or its Affiliates who receives an Award pursuant to this Plan. 
 “Plan” means this 2020 Stock Option and Incentive
Plan. 

  
 15 













 “Prior Plan” means the Company’s 2015 Stock Option and
Grant Plan. 
 “Registration Date” means the date upon which the registration statement on Form S-1 that is filed by the Company with respect to its initial public offering is declared effective by the Securities and Exchange Commission. 

“Restricted Shares” means the shares of Stock underlying a Restricted Stock Award that remain subject to a risk of forfeiture
or the Company’s right of repurchase. 
 “Restricted Stock Award” means an Award of Restricted Shares subject to such
restrictions and conditions as the Administrator may determine at the time of grant. 
 “Restricted Stock
Units” means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant. 

“Sale Event” shall mean (i) the sale of all or substantially all of the assets of the Company on a
consolidated basis to an unrelated person or entity, (ii) a merger, reorganization or consolidation pursuant to which the holders of the Company’s outstanding voting power and outstanding stock immediately prior to such transaction do not
own a majority of the outstanding voting power and outstanding stock or other equity interests of the resulting or successor entity (or its ultimate parent, if applicable) immediately upon completion of such transaction, (iii) the sale of all
of the Stock of the Company to an unrelated person, entity or group thereof acting in concert, or (iv) any other transaction in which the owners of the Company’s outstanding voting power immediately prior to such transaction do not own at
least a majority of the outstanding voting power of the Company or any successor entity immediately upon completion of the transaction other than as a result of the acquisition of securities directly from the Company. 

“Sale Price” means the value as determined by the Administrator of the consideration payable, or otherwise to be received by
stockholders, per share of Stock pursuant to a Sale Event. 
 “Section 409A” means
Section 409A of the Code and the regulations and other guidance promulgated thereunder. 
 “Service Relationship”
means any relationship as an employee, director or Consultant of the Company or any Affiliate (e.g., a Service Relationship shall be deemed to continue without interruption in the event an individual’s status changes from full-time employee
to part-time employee or Consultant). 
 “Stock” means the Common Stock, par value $0.0001 per share, of the
Company, subject to adjustments pursuant to Section 3. 
 “Stock Appreciation Right” means an Award
entitling the recipient to receive shares of Stock (or cash, to the extent explicitly provided for in the applicable Award Agreement) having a value equal to the excess of the Fair Market Value of the Stock on the date of exercise over the exercise
price of the Stock Appreciation Right multiplied by the number of shares of Stock with respect to which the Stock Appreciation Right shall have been exercised. 

  
 16 













 “Subsidiary” means any corporation or other entity (other
than the Company) in which the Company has at least a 50 percent interest, either directly or indirectly. 
 “Ten
Percent Owner” means an employee who owns or is deemed to own (by reason of the attribution rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or
any parent or subsidiary corporation. 
 “Unrestricted Stock Award” means an Award of shares of Stock free of any
restrictions. 
 DATE APPROVED BY BOARD OF DIRECTORS: September 17, 2020, and effective upon consummation of the Company’s initial public
offering. 
 DATE APPROVED BY STOCKHOLDERS: October 2, 2020, and effective upon consummation of the Company’s initial public offering. 

  
 17 













 INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Participant:	 	  
	 	
			
	No. of Option Shares:	 	                              	 	
			
	Option Exercise Price per Share:	 	$                            	 	
		 	[FMV on Grant Date (110% of FMV if a 10% owner)]
			
	Grant Date:	 	                              	 	
			
	Expiration Date:	 	                              	 	
		 	[up to 10 years (5 if a 10% owner)]	 	

 The Company has granted to the participant listed above (the “Participant”) the stock option
described herein (the “Stock Option”), subject to the terms and conditions of the Codiak BioSciences, Inc. 2020 Stock Option and Incentive Plan (the “Plan”) and this Stock Option Agreement (the
“Agreement”). 
 1.    Vesting and Exercisability Schedule. No portion of this Stock Option may
be exercised until such portion shall have vested and become exercisable. Except as set forth below, and subject to the discretion of the Administrator, this Stock Option shall vest and become exercisable according to the schedule below so long as
Participant remains an employee of the Company or a Subsidiary on such dates: 
  

			
	 Number of
Option Shares
Exercisable
	  	 Exercisability Date

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    


 * Max. of $100,000 per yr. 

Once exercisable, this Stock Option shall continue to be exercisable at any time prior to the close of business on the Expiration Date,
subject to the provisions in this Agreement and of the Plan. 












 2.    Manner of Exercise. 

(a)    The Participant may exercise this Stock Option by providing written notice to the Company as set forth in the Plan.

 The transfer to the Participant of the shares of Stock purchased upon exercise of this Stock Option will be contingent upon (i) the
Company’s receipt from the Participant of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Participant chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of
Stock transferred to the Participant upon the exercise of the Stock Option shall be net of the Shares attested to. 

(b)    The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Participant, subject
to verification by the Administrator of compliance with the terms of this Agreement and the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Participant. The Participant shall not be deemed to be
the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been validly exercised and the shares have been transferred to the Participant.
The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject
to exercise under this Stock Option at the time. 
 (c)    Notwithstanding any other provision hereof or of the Plan, no
portion of this Stock Option shall be exercisable after the Expiration Date. 
 3.    Termination of Employment.
If the Participant’s employment by the Company or a Subsidiary is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a)    Termination Due to Death. If the Participant’s employment terminates by reason of death, any portion of
this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Participant’s legal representative or legatee for a period of 12 months from the date of death or until the
Expiration Date, if earlier; provided that any portion of this Stock Option that is unvested as of the date of Participant’s death will accelerate and become vested and exercisable upon the date of Participant’s death. 

(b)    Termination Due to Disability. If the Participant’s employment terminates by reason of Disability (as
determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination of employment, may thereafter be exercised by the Participant for a period of 12 months from the


  
 2 













 
date of termination or until the Expiration Date, if earlier; provided that any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be
of no further force or effect. 
 (c)    Termination for Cause. If the Participant’s employment terminates
for Cause as defined in the Plan, any portion of this Stock Option outstanding on such date shall be forfeited and terminate immediately. 

(d)    Other Termination. If the Participant’s employment terminates for any reason other than death,
Disability or Cause any portion of this Stock Option outstanding on such date may be exercised, for a period of ninety (90) days from the date of termination or until the Expiration Date, if earlier; provided that any portion of this Stock
Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 
 The
Administrator’s determination of the reason for termination of the Participant’s employment shall be conclusive and binding on the Participant and his or her representatives or legatees. 

4.    Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to
and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different
meaning is specified herein. 
 5.    Transferability. This Agreement is personal to the Participant, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Participant’s
lifetime, only by the Participant, and thereafter, only by the Participant’s legal representative or legatee. 

6.    Status of the Stock Option. This Stock Option is intended to qualify as an “incentive stock option”
under Section 422 of the Code, but the Company does not represent or warrant that this Stock Option qualifies as such. The Participant should consult with his or her own tax advisors regarding the tax effects of this Stock Option and the
requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. To the extent any portion of this Stock Option does not so qualify as an “incentive
stock option,” such portion shall be deemed to be a non-qualified stock option. If the Participant intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any Option Shares
within the one-year period beginning on the date after the transfer of such shares to him or her, or within the two-year period beginning on the day after the grant of
this Stock Option, he or she will so notify the Company within 30 days after such disposition. 
 7.    Tax
Withholding. The Participant shall, not later than the date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Company for payment of
any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The 

  
 3 













 
Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued to the Participant a
number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due. 

8.    No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated by or as a result
of the Plan or this Agreement to continue the Participant in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Participant at any time.

 9.    Integration. This Agreement constitutes the entire agreement between the parties with respect to this
Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

10.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure
future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security
or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering
into this Agreement, the Participant (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Participant may have with respect to the
Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies
consider appropriate. The Participant shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
 4 













 11.    Notices. Notices hereunder shall be mailed or delivered to
the Company at its principal place of business and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing.

  

									
		 		 	     CODIAK BIOSCIENCES, INC.	  	


									
					
		 		 	By:	  	  
	  	
		 		 		  	Title:	  	


							
	
	Electronic acceptance of this Agreement pursuant to the Company’s instructions or your signature below (including through an online acceptance process) shall constitute your acceptance of the terms and conditions in
this agreement.
				
	Dated:
                                         
           	 		  	  
	  	
		 		  	Participant’s Signature	  	
				
		 	            	  	Participant’s name and address:	  	
				
		 		  	  
	  	
				
		 		  	  
	  	
				
		 		  	  
	  	


  
 5 













 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Participant:	 	  
	 	
			
	No. of Option Shares:	 	                              	 	
			
	Option Exercise Price per Share:	 	$                            	 	
		 	[FMV on Grant Date]
			
	Grant Date:	 	                              	 	
			
	Expiration Date:	 	                              	 	
		 	[No more than 10 years]	 	

 The Company has granted to the participant listed above (the “Participant”) the stock option described herein
(the “Stock Option”), subject to the terms and conditions of the Codiak BioSciences, Inc. 2020 Stock Option and Incentive Plan (the “Plan”) and this Stock Option Agreement (the
“Agreement”). This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Code. 

1.    Vesting and Exercisability Schedule. No portion of this Stock Option may be exercised until such portion
shall have vested and become exercisable. Except as set forth below, and subject to the discretion of the Administrator, this Stock Option shall vest and become exercisable according to the schedule below so long as Participant remains an employee
of the Company or a Subsidiary on such dates: 
  

			
	 Number of
Option Shares
Exercisable
	  	 Exercisability Date

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    


 Once exercisable, this Stock Option shall continue to be exercisable at any time prior to the close of
business on the Expiration Date, subject to the provisions in this Agreement and of the Plan. 












 2.    Manner of Exercise. 

(a)    The Participant may exercise this Stock Option by providing written notice to the Company as set forth in the Plan.

 The transfer to the Participant of the shares of Stock purchased upon exercise of this Stock Option will be contingent upon (i) the
Company’s receipt from the Participant of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Participant chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of
Stock transferred to the Participant upon the exercise of the Stock Option shall be net of the Shares attested to. 

(b)    The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Participant, subject
to verification by the Administrator of compliance with the terms of this Agreement and the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Participant. The Participant shall not be deemed to be
the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been validly exercised and the shares have been transferred to the Participant.
The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject
to exercise under this Stock Option at the time. 
 (c)    Notwithstanding any other provision hereof or of the Plan, no
portion of this Stock Option shall be exercisable after the Expiration Date. 
 3.    Termination of Employment.
If the Participant’s employment by the Company or a Subsidiary is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a)    Termination Due to Death. If the Participant’s employment terminates by reason of death, any portion of
this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Participant’s legal representative or legatee for a period of 12 months from the date of death or until the
Expiration Date, if earlier; provided that any portion of this Stock Option that is unvested as of the date of Participant’s death will accelerate and become vested and exercisable upon the date of Participant’s death. 

(b)    Termination Due to Disability. If the Participant’s employment terminates by reason of Disability (as
determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination of employment, may thereafter be exercised by the Participant for a period of 12 months from the


  
 2 













 
date of termination or until the Expiration Date, if earlier; provided that any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be
of no further force or effect. 
 (c)    Termination for Cause. If the Participant’s employment terminates
for Cause as defined in the Plan, any portion of this Stock Option outstanding on such date shall be forfeited and terminate immediately. 

(d)    Other Termination. If the Participant’s employment terminates for any reason other than death,
Disability or Cause any portion of this Stock Option outstanding on such date may be exercised, for a period of ninety (90) days from the date of termination or until the Expiration Date, if earlier; provided that any portion of this Stock
Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 
 The
Administrator’s determination of the reason for termination of the Participant’s employment shall be conclusive and binding on the Participant and his or her representatives or legatees. 

4.    Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to
and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different
meaning is specified herein. 
 5.    Transferability. This Agreement is personal to the Participant, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Participant’s
lifetime, only by the Participant, and thereafter, only by the Participant’s legal representative or legatee. 

6.    Tax Withholding. The Participant shall, not later than the date as of which the exercise of this Stock Option
becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Company for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The
Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued to the Participant a number of shares of Stock with an aggregate Fair Market
Value that would satisfy the withholding amount due. 
 7.    No Obligation to Continue Employment. Neither the
Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Participant in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to
terminate the employment of the Participant at any time. 
 8.    Integration. This Agreement constitutes the
entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

  
 3 













 9.    Data Privacy Consent. In order to administer the Plan and
this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data,
including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the
“Relevant Information”). By entering into this Agreement, the Participant (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy
rights the Participant may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to
any jurisdiction in which the Relevant Companies consider appropriate. The Participant shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

10.    Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business
and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

									
		 		 	     CODIAK BIOSCIENCES, INC.	  	


									
					
		 		 	By:	  	  
	  	
		 		 		  	Title:	  	


							
	
	Electronic acceptance of this Agreement pursuant to the Company’s instructions or your signature below (including through an online acceptance process) shall constitute your acceptance of the terms and conditions in
this agreement.
				
	Dated:
                                         
           	 		  	  
	  	
		 		  	Participant’s Signature	  	
				
		 	            	  	Participant’s name and address:	  	
				
		 		  	  
	  	
				
		 		  	  
	  	
				
		 		  	  
	  	


  
 4 













 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS 

UNDER THE CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Participant:	 	  
	 	
			
	No. of Option Shares:	 	                              	 	
			
	Option Exercise Price per Share:	 	$                            	 	
		 	[FMV on Grant Date]
			
	Grant Date:	 	                              	 	
			
	Expiration Date:	 	                              	 	
		 	[No more than 10 years]	 	

 The Company has granted to the participant listed above (the “Participant”) the stock option
described herein (the “Stock Option”), subject to the terms and conditions of the Codiak BioSciences, Inc. 2020 Stock Option and Incentive Plan (the “Plan”) and this Stock Option Agreement (the
“Agreement”). This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Code. 

1.    Vesting and Exercisability Schedule. No portion of this Stock Option may be exercised until such portion
shall have vested and become exercisable. Except as set forth below, and subject to the discretion of the Administrator, this Stock Option shall vest and become exercisable according to the schedule below so long as Participant continues to have a
Service Relationship on such dates: 
  

			
	 Number of
Option Shares
Exercisable
	  	 Exercisability Date

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    


 Notwithstanding the foregoing, this Stock Option will fully vest and become immediately exercisable upon a
Sale Event. Once exercisable, this Stock Option shall continue to be exercisable at any time prior to the close of business on the Expiration Date, subject to the provisions in this Agreement and of the Plan. 












 2.    Manner of Exercise. 

(a)    The Participant may exercise this Stock Option by providing written notice to the Company as set forth in the Plan.

 The transfer to the Participant of the shares of Stock purchased upon exercise of this Stock Option will be contingent upon (i) the
Company’s receipt from the Participant of the full purchase price for the Option Shares, as set forth above, (ii) the fulfillment of any other requirements contained herein or in the Plan or in any other agreement or provision of laws, and
(iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent
resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Participant chooses to pay the purchase price by previously-owned shares of Stock through the attestation method, the number of shares of
Stock transferred to the Participant upon the exercise of the Stock Option shall be net of the Shares attested to. 

(b)    The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Participant, subject
to verification by the Administrator of compliance with the terms of this Agreement and the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Participant. The Participant shall not be deemed to be
the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option unless and until this Stock Option shall have been validly exercised and the shares have been transferred to the Participant.
The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject
to exercise under this Stock Option at the time. 
 (c)    Notwithstanding any other provision hereof or of the Plan, no
portion of this Stock Option shall be exercisable after the Expiration Date. 
 3.    Termination of Service
Relationship. If the Participant’s Service Relationship is terminated, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below. 

(a)    Termination Due to Death. If the Participant’s Service Relationship terminates by reason of the
Participant’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of termination, may thereafter be exercised by the Participant’s legal representative or legatee for a period of 12
months from the date of termination or until the Expiration Date, if earlier; provided that any portion of this Stock Option that is unvested as of the date of Participant’s death will accelerate and become vested and exercisable upon the date
of Participant’s death. 
 (b)    Other Termination. If the Participant’s Service Relationship
terminates for any reason other than the Participant’s death, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of such termination of Service Relationship, for a period of six
months from the date of termination or until the Expiration Date, if earlier; provided that any portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

  
 2 













 4.    Incorporation of Plan. Notwithstanding anything herein to
the contrary, this Stock Option shall be subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the
meaning specified in the Plan, unless a different meaning is specified herein. 
 5.    Transferability. This
Agreement is personal to the Participant, is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock
Option is exercisable, during the Participant’s lifetime, only by the Participant, and thereafter, only by the Participant’s legal representative or legatee. 

6.    No Obligation to Continue as a Director. Neither the Plan nor this Stock Option confers upon the Participant
any rights with respect to continuance as a Director or continuance of any other Service Relationship. 

7.    Integration. This Agreement constitutes the entire agreement between the parties with respect to this Stock
Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

8.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future
equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other
identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into
this Agreement, the Participant (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Participant may have with respect to the Relevant
Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider
appropriate. The Participant shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
 3 













 9.    Notices. Notices hereunder shall be mailed or delivered to
the Company at its principal place of business and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing.

  

									
		 		 	     CODIAK BIOSCIENCES, INC.	  	


									
					
		 		 	By:	  	  
	  	
		 		 		  	Title:	  	


							
	
	Electronic acceptance of this Agreement pursuant to the Company’s instructions or your signature below (including through an online acceptance process) shall constitute your acceptance of the terms and conditions in
this agreement.
				
	Dated:
                                         
           	 		  	  
	  	
		 		  	Participant’s Signature	  	
				
		 	            	  	Participant’s name and address:	  	
				
		 		  	  
	  	
				
		 		  	  
	  	
				
		 		  	  
	  	


  
 4 













 RESTRICTED STOCK AWARD AGREEMENT 

UNDER THE CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Participant:	 	  
	 	
			
	No. of Shares:	 	                              	 	
			
	Grant Date:	 	                              	 	

 The Company has granted to the participant listed above (the “Participant”) the number of shares of Stock
listed above (the “Restricted Stock”), subject to the terms and conditions of the Codiak BioSciences, Inc. 2020 Stock Option and Incentive Plan (the “Plan”) and this Restricted Stock Award Agreement (the
“Agreement”). 
 1.    Award. The shares of Restricted Stock awarded hereunder shall be issued
and held by the Company’s transfer agent in book entry form, and the Participant’s name shall be entered as the stockholder of record on the books of the Company. Thereupon, the Participant shall have all the rights of a stockholder with
respect to such shares, including voting and dividend rights, subject, however, to the restrictions and conditions specified in Paragraph 2 below. The Participant shall (i) sign and deliver to the Company a copy of this Award Agreement and
(ii) deliver to the Company a stock power endorsed in blank. 
 2.    Restrictions and Conditions. 

(a)    Any book entries for the shares of Restricted Stock granted herein shall bear an appropriate legend, as determined
by the Administrator in its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan. 

(b)    Shares of Restricted Stock granted herein may not be sold, assigned, transferred, pledged or otherwise encumbered
or disposed of by the Participant prior to vesting. 
 (c)    If the Participant’s employment with the Company and
its Subsidiaries terminates by reason of death, all vesting conditions set forth in Paragraph 3 below will accelerate and become vested upon the date of the Participant’s death. If the Participant’s employment with the Company and its
Subsidiaries is voluntarily or involuntarily terminated for any reason other than death prior to vesting of shares of Restricted Stock granted herein, all shares of Restricted Stock shall immediately and automatically be forfeited and returned to
the Company. 
 3.    Vesting of Restricted Stock. The restrictions and conditions in Paragraph 2 of this
Agreement shall lapse on the vesting date or dates specified in the following schedule so long as the Participant remains an employee of the Company or a Subsidiary on such dates. If a series of vesting dates is specified, then the restrictions and
conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date. 













			
	 Number
of Shares Vested
	  	 Vesting Date

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    


 Subsequent to such vesting date or dates, the shares of Stock on which all restrictions and conditions have
lapsed shall no longer be deemed Restricted Stock. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 3. 

4.    Dividends. Dividends on shares of Restricted Stock shall be paid currently to the Participant; provided that
if the vesting conditions in Paragraph 3 include the attainment of performance goals, any dividends paid by the Company during the performance period shall accrue and shall not be paid to the Participant until and to the extent the performance goals
are met. 
 5.    Incorporation of Plan. Notwithstanding anything herein to the contrary, this Award shall be
subject to and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a
different meaning is specified herein. 
 6.    Transferability. This Agreement is personal to the Participant,
is non-assignable and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 

7.    Tax Withholding. The Participant shall, not later than the date as of which the receipt of this Award becomes
a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Company for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. Except in the
case where an election is made pursuant to Paragraph 8 below, the Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued or released by
the transfer agent a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due. 

8.    Election Under Section 83(b). The Participant and the Company hereby agree that the
Participant may, within 30 days following the Grant Date of this Award, file with the Internal Revenue Service and the Company an election under Section 83(b) of the Code. In the event the Participant makes such an election, he or she agrees to
provide a copy of the election to the Company. The Participant acknowledges that he or she is responsible for obtaining the advice of his or her tax advisors with regard to the Section 83(b) election and that he or she is relying solely on such
advisors and not on any statements or representations of the Company or any of its agents with regard to such election. 

  
 2 













 9.    No Obligation to Continue Employment. Neither the Company
nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Participant in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate
the employment of the Participant at any time. 
 10.    Integration. This Agreement constitutes the entire
agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

11.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure
future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security
or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering
into this Agreement, the Participant (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Participant may have with respect to the
Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies
consider appropriate. The Participant shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
 3 













 12.    Notices. Notices hereunder shall be mailed or delivered to
the Company at its principal place of business and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing.

  

									
		 		 	     CODIAK BIOSCIENCES, INC.	  	


									
					
		 		 	By:	  	  
	  	
		 		 		  	Title:	  	


							
	
	Electronic acceptance of this Agreement pursuant to the Company’s instructions or your signature below (including through an online acceptance process) shall constitute your acceptance of the terms and conditions in
this agreement.
				
	Dated:
                                         
           	 		  	  
	  	
		 		  	Participant’s Signature	  	
				
		 	            	  	Participant’s name and address:	  	
				
		 		  	  
	  	
				
		 		  	  
	  	
				
		 		  	  
	  	


  
 4 













 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS 

UNDER THE CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Participant:	 	  
	 	
			
	 No. of Restricted Stock Units:
	 	                              	 	
			
	Grant Date:	 	                              	 	

 The Company has granted to the participant listed above (the “Participant”) the award of the number of
Restricted Stock Units listed above (the “Award”), subject to the terms and conditions of the Codiak BioSciences, Inc. 2020 Stock Option and Incentive Plan (the “Plan”) and this Restricted Stock Unit Award Agreement
(the “Agreement”). Each Restricted Stock Unit shall relate to one share of Stock. 

1.    Restrictions on Transfer of Award. This Award may not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of by the Participant, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as
provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Participant in accordance with the terms of the Plan and this Agreement. 

2.    Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement
shall lapse on the vesting date or dates specified in the following schedule so long as the Participant continues to have a Service Relationship on such dates. If a series of vesting dates is specified, then the restrictions and conditions in
Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Number of
Restricted Stock Units
Vested
	  	 Vesting Date

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    


 Notwithstanding the foregoing, this Award and all Restricted Stock Units will fully vest upon a Sale Event.
The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 
 3.    Termination
of Service Relationship. If the Participant’s Service Relationship terminates by reason of death, this Award and all vesting conditions set forth in Paragraph 2 above will accelerate and become vested upon the date of the Participant’s
death. If the Participant’s Service Relationship terminates for any reason other than death prior to the 












 
satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and without notice terminate and be
forfeited, and neither the Participant nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units. 

4.    Issuance of Shares of Stock. As soon as practicable following each vesting date (but in no event later than
two and one-half months after the end of the year in which the vesting date occurs), the Company shall issue to the Participant (or the Participant’s estate) the number of shares of Stock equal to the
aggregate number of Restricted Stock Units that have vested pursuant to Paragraph 2 of this Agreement on such date and the Participant shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5.    Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to
and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different
meaning is specified herein. 
 6.    Section 409A of the Code. This Agreement shall be interpreted in such a
manner that all provisions relating to the settlement of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

7.    No Obligation to Continue as a Director. Neither the Plan nor this Award confers upon the Participant any
rights with respect to continuance as a Director. 
 8.    Integration. This Agreement constitutes the entire
agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

9.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future
equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other
identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into
this Agreement, the Participant (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Participant may have with respect to the Relevant
Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider
appropriate. The Participant shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

10.    Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business
and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

  
 2 














									
		 		 	     CODIAK BIOSCIENCES, INC.	  	


									
					
		 		 	By:	  	  
	  	
		 		 		  	Title:	  	


							
	
	Electronic acceptance of this Agreement pursuant to the Company’s instructions or your signature below (including through an online acceptance process) shall constitute your acceptance of the terms and conditions in
this agreement.
				
	Dated:
                                         
           	 		  	  
	  	
		 		  	Participant’s Signature	  	
				
		 	            	  	Participant’s name and address:	  	
				
		 		  	  
	  	
				
		 		  	  
	  	
				
		 		  	  
	  	


  
 3 













 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE CODIAK BIOSCIENCES, INC. 

2020 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Participant:	 	  
	 	
			
	 No. of Restricted Stock Units:
	 	                              	 	
			
	Grant Date:	 	                              	 	

 The Company has granted to the participant listed above (the “Participant”) the award of the number of
Restricted Stock Units listed above (the “Award”), subject to the terms and conditions of the Codiak BioSciences, Inc. 2020 Stock Option and Incentive Plan (the “Plan”) and this Restricted Stock Unit Award Agreement
(the “Agreement”). Each Restricted Stock Unit shall relate to one share of Stock. 

1.    Restrictions on Transfer of Award. This Award may not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of by the Participant, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of until (i) the Restricted Stock Units have vested as
provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Participant in accordance with the terms of the Plan and this Agreement. 

2.    Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement
shall lapse on the vesting date or dates specified in the following schedule so long as the Participant remains an employee of the Company or a Subsidiary on such vesting dates. If a series of vesting dates is specified, then the restrictions and
conditions in Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Number of
Restricted Stock Units
Vested
	  	 Vesting Date

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    

	
                
    
	  	
                
    


 The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 

3.    Termination of Employment. If the Participant’s employment with the Company and its Subsidiaries
terminates by reason of death, this Award and all vesting conditions set forth in Paragraph 2 above will accelerate and become vested upon the date of the Participant’s death. If the Participant’s employment with the Company and its
Subsidiaries terminates for any reason 












 
other than death prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and
without notice terminate and be forfeited, and neither the Participant nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units. 

4.    Issuance of Shares of Stock. As soon as practicable following each vesting date (but in no event later than
two and one-half months after the end of the year in which the vesting date occurs), the Company shall issue to the Participant (or the Participant’s estate) the number of shares of Stock equal to the
aggregate number of Restricted Stock Units that have vested pursuant to Paragraph 2 of this Agreement on such date and the Participant shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5.    Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to
and governed by all the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different
meaning is specified herein. 
 6.    Tax Withholding. The Participant shall, not later than the date as of which
the receipt of this Award becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Company for payment of any Federal, state, and local taxes required by law to be withheld on account of
such taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to be issued to the Participant a number of shares of Stock with an
aggregate Fair Market Value that would satisfy the withholding amount due. 
 7.    Section 409A of the Code.
This Agreement shall be interpreted in such a manner that all provisions relating to the settlement of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A
of the Code. 
 8.    No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated
by or as a result of the Plan or this Agreement to continue the Participant in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the
Participant at any time. 
 9.    Integration. This Agreement constitutes the entire agreement between the
parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

10.    Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure
future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security
or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering
into this Agreement, the Participant (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy 

  
 2 













 
rights the Participant may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and
(iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Participant shall have access to, and the right to change, the Relevant Information. Relevant Information
will only be used in accordance with applicable law. 
 11.    Notices. Notices hereunder shall be mailed or
delivered to the Company at its principal place of business and shall be mailed or delivered to the Participant at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other
party in writing. 
  

									
		 		 	     CODIAK BIOSCIENCES, INC.	  	


									
					
		 		 	By:	  	  
	  	
		 		 		  	Title:	  	


							
	
	Electronic acceptance of this Agreement pursuant to the Company’s instructions or your signature below (including through an online acceptance process) shall constitute your acceptance of the terms and conditions in
this agreement.
				
	Dated:
                                         
           	 		  	  
	  	
		 		  	Participant’s Signature	  	
				
		 	            	  	Participant’s name and address:	  	
				
		 		  	  
	  	
				
		 		  	  
	  	
				
		 		  	  
	  	


  
 3