Document:

Document

Exhibit 10.1

April 16, 2020

Ralf Rosskamp
270 3rd Street, Apt 701
Cambridge, MA 02142

Re: Transition and Separation Agreement

Dear Ralf:

Dicerna Pharmaceuticals, Inc. (the “Company”) greatly appreciates your dedication and service to the Company. You and I have discussed our mutual interest in bringing your employment to an end and doing so in a manner that provides a smooth transition for both you and the Company. This letter agreement (the “Agreement”) confirms terms that we have discussed concerning your continued employment for a limited period, the termination of your employment, severance pay and benefits and consulting terms. Under this Agreement, you will have the opportunity to receive the same post-employment severance pay and benefits that are available under your February 21, 2020 Amended and Restated Employment Agreement with the Company (the “Employment Agreement”)1 plus certain bonus and equity enhancements in exchange for your performance of consulting services through June 30, 2021.

This Agreement amends the Employment Agreement. It also amends certain Equity Documents, as defined below.

Specifically, you and the Company agree as follows:

1.Transition Period

(a)Hire of New CMO and Termination of Employment. The Company is currently engaged in a search for a new Chief Medical Officer (the “New CMO”). The Company anticipates continuing your employment as Chief Medical Officer through the date of the commencement of employment of the New CMO (the “New CMO Hire Date”) and possibly for a limited period beyond the New CMO Hire Date. To the extent that your employment continues beyond the New CMO Hire Date, you shall be transitioned to a senior advisor role with a title and responsibilities as determined by the Company. Consistent with the Employment Agreement, the Company reserves the right to terminate your employment at any time and shall not be required to provide the thirty (30) days’ written notice pursuant to Section 4(a) of the Employment Agreement. The period of your employment from the Effective Date (as defined below) to the date of termination of your employment is referred to in this Agreement as the “Transition Period.”
The date of termination of your employment is referred to as the “Termination Date.”
(b)Responsibilities. During the Transition Period, you shall use your best efforts to perform the responsibilities that are assigned to you. For such period that you remain Chief Medical Officer, you shall perform the responsibilities of that function, consistent with Section 2 of the Employment Agreement; provided that notwithstanding anything to the contrary in Section 2 of the Employment Agreement, your title, authority and responsibilities may be modified by the Company’s President and CEO at any time during the remaining period of your 
________________
1 For purposes of this Agreement, references to the Employment Agreement include any amendments to the Employment Agreement that are entered into after the date of this letter

employment with the Company. You hereby waive any and all rights to terminate your employment for “Good Reason” based upon a material diminution in your authority, duties, responsibilities or title pursuant to Section 4(b)(i) of the Employment Agreement. You acknowledge that your responsibilities during the remaining period of your employment may include assisting in the recruitment, interview and hire of the New CMO.

(c)Compensation. During the Transition Period, your at-will employment shall continue on a full-time basis, you will be paid at the rate of your current base salary, which is $475,000 per year (the “Base Salary”), and your compensation terms with respect to benefits and expenses pursuant to Sections 3(d) and 3(e) of the Employment Agreement shall continue in effect.

(d)Acknowledgment. You acknowledge that as of the Company’s most recent payroll payment of salary to you, you were fully paid for all salary then due to you. You shall continue to be eligible to use paid vacation time in accordance with the Company’s policies during the Transition Period.

2.Severance Benefits

Provided that (i) you fully comply at all times with your obligations pursuant to this Agreement and the Nondisclosure, Noncompetition and Assignment Agreement signed May 12, 2017 (the “Confidentiality Agreement”), including the post-employment non-competition and non- solicitation obligations you entered into with the Company; (ii) you remain employed with the Company until the Termination Date that is hereafter designated by the Company; and (iii) there is no “Cause” for termination of your employment as defined in Section 4(c) of the Employment Agreement (together, the “Conditions”), you will be eligible for the following “Severance Benefits.”

(a)Severance Pay. The Company shall pay you severance pay (“Severance Pay”) consisting of salary continuation at your Base Salary rate, less applicable tax- related deductions and withholdings, effective for the 12-month period immediately following the Termination Date (the “Severance Pay Period”). Severance Pay shall be payable in accordance with the Company’s regular payroll practices. Notwithstanding anything to the contrary in the foregoing or in the Employment Agreement, the Company shall not be obligated to continue the payment of the Severance Pay if you do not sign the Release Agreement attached to this Agreement as Exhibit A within the twenty-one (21) day time period set forth in the Release Agreement or if you revoke the Release Agreement after signing it. The Release Agreement shall be deemed to be tendered to you upon the

Termination Date; provided that the Company may substitute a substantially identical Release Agreement in place of Exhibit A and tender such Release Agreement on or promptly after the Termination Date. You are not authorized to sign the Release Agreement before the Termination Date.

(b)Health Benefits. If you elect continuation of group medical, dental and vision
insurance coverage pursuant to the law known as “COBRA,” the Company shall pay the premiums for such group medical, dental and vision coverage as in effect for you on the Termination Date until the earliest of the following: (i) the end of the Consulting Period (as defined below) or the end of the Severance Pay Period, whichever occurs later; (ii) your eligibility for group medical care coverage through other employment; or (iii) the end of your 
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eligibility under COBRA for continuation coverage for medical, dental and vision care (the Company’s payment of such premiums, the “Health Benefits”). Notwithstanding anything to the contrary in the foregoing or the Employment Agreement, the Company shall not be obligated to continue the Health Benefits if you do not sign the Release Agreement within the twenty-one (21) day time period set forth in the Release Agreement or if you revoke the Release Agreement after signing it. You agree to notify the Company promptly if you become eligible for group medical care coverage through another employer. You also agree to respond promptly and fully to any reasonable requests for information by the Company concerning your eligibility for such coverage. After the conclusion of the Company’s payment of Health Benefits, you may continue coverage at your own expense for the remainder of the COBRA continuation period, subject to continued eligibility.

For the avoidance of doubt, you acknowledge and agree that the Severance Benefits provided for in this Section 2 and the bonus pursuant to Section 4(b) below satisfy and replace the Company’s severance pay and benefits obligations pursuant to Section 4(e) of the Employment Agreement.

3.Consulting Period

Subject to the Conditions, the Company shall retain you as an independent contractor to provide consulting services as requested by the Company during the period from the Termination Date to June 30, 2021 or a later date consistent with the terms of this Agreement (the “Consulting Period”), provided, however, that the Consulting Period shall continue only if you also sign the Release Agreement within the time period set forth in the Release Agreement and do not revoke the Release Agreement. Such consulting services may consist of any transitional assistance, any responsibilities of a Chief Medical Officer or any other responsibilities that the Company may reasonably request (“Consulting Services”).  For the avoidance of any doubt, your transition from employment status during the Transition Period to independent contractor status during the Consulting Period shall constitute a “separation from service” for purposes of Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treas.
Reg. § 1.409A-1(h).

(a)Services. During the Consulting Period, you shall perform Consulting Services at reasonable times requested by the Company; provided that the Company shall not

require you to provide any services at any times that would materially interfere with your other commitments, unless Section 5(c) below is applicable.

(b)Bonus. In consideration for your performance of and availability to perform Consulting Services during the Consulting Period, and notwithstanding anything to the contrary in your Employment Agreement or otherwise, the Company shall pay you a bonus payment based on the Company’s calendar year 2020 corporate goal achievements (the “Annual Bonus”); provided, subject to your continued satisfaction of the Conditions. For calendar year 2020, the target Annual Bonus shall be forty percent (40%) of the Base Salary, and the actual amount shall be determined in the sole discretion of the Company’s Board of Directors (the “Board”) based on the achievement of corporate objectives and individual performance, in each case, as determined by the Board. The Annual Bonus shall be paid to you at the same time bonus payments are made to senior executives, but in no event later than March 15, 2021. You acknowledge and agree that your opportunity to receive the Annual Bonus set forth in this Section 4(b) is in lieu of any bonus or incentive compensation payments otherwise due to you pursuant to the Employment Agreement or otherwise.
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(c)Equity. For the avoidance of doubt, your performance of and availability to perform Consulting Services during the Consulting Period constitute a continued service relationship with the Company for purposes of the Equity Documents, as defined below. As a result, your unvested equity as of the Termination Date shall continue to vest until the end of the Consulting Period. At the conclusion of the Consulting Period, you shall be eligible to exercise all vested equity awards pursuant to the terms of the Equity Documents (i.e., three (3) months from the end of the Consulting Period, but no later than the expiration date of the award). The “Equity Documents” mean all options that you hold to purchase shares of the Company’s common stock pursuant to the Company’s Notice of Grant of Stock Option dated June 15, 2017, the Company’s Annual Stock Option Grant Notice dated January 4, 2018, the Company’s Stock Option Grant Notice dated January 2, 2019, the Company’s Notice of Grant of Stock Option dated January 8, 2020, the associated Terms and Conditions of each such grant, as may be amended from time to time, the Company’s Amended and Restated 2014 Performance Incentive Plan, as amended and restated on May 7, 2019, and as may be further amended from time to time and the restricted stock award that you were granted pursuant to the Restricted Stock Unit Grant Notice dated January 8, 2020 and the related Restricted Stock Unit Award Agreement.

(d)Equity Acceleration. As further consideration for your performance of and availability to perform Consulting Services during the Consulting Period, and notwithstanding anything to the contrary in the Equity Documents, you shall have the opportunity to fully vest in all time-based stock options and other time-based stock-based awards held by you (the “Time-Based Equity Awards”) if certain events occur during the Consulting Period; provided that you continue to satisfy all of the Conditions. More specifically, if during the Consulting Period, the Company executes a letter of intent or an equivalent agreement with a potential acquirer contemplating a Change of Control (as defined in the Employment Agreement) (such letter or agreement, an “LOI”), then upon the consummation of the Change of Control, all Time-Based Equity Awards held by you to the extent unvested as of immediately prior to the Change of Control shall immediately accelerate and become fully exercisable or nonforfeitable upon the consummation of the Change of Control. To effectuate this provision, any termination or forfeiture of the unvested portion of the Time-Based Equity Awards that would otherwise occur at the conclusion of the Consulting Period in the absence of this Agreement will be delayed unless and until the effective date of the consummation of the Change of Control, subject to the timely execution of an LOI. For the avoidance of doubt, notwithstanding anything to the contrary in the foregoing, in no event will the Time-Based Equity Awards vest or become exercisable after their respective expiration dates provided in the applicable Equity Documents.

(e)Increased Services; Extension. In the event that the Company requests that you provide Consulting Services for more than forty (40) hours in any 30-day period during the Consulting Period, the Consulting Period shall automatically extend in 30-day increments, subject to the Company’s continued request that you provide Consulting Services for more than forty (40) hours in any 30-day period. In the event the Consulting Period is automatically extended, the Company will confer with you and consider providing you with additional compensation in recognition of your performance of such increased Consulting Services. For the avoidance of doubt, such increase in Consulting Services may be due, without limitation, to a need as determined by the Company for you to resume the performance of services as the Company’s Chief Medical Officer.

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(f)Independent Contractor Status. During the Consulting Period, you shall act solely as an independent contractor and this Agreement shall not be construed to create any employee/employer relationship between you and the Company. You shall accept any directions issued by the Company pertaining to the goals to be attained and the results to be achieved by you in providing Consulting Services, but you shall be solely responsible for the manner in which you perform such Consulting Services. You shall not be eligible to participate in any employee benefit plans or programs, including without limitation life insurance, disability, medical, dental, vision and retirement savings plans during the Consulting Period. You shall also not be eligible for workers’ compensation coverage or participation as an employee in the Social Security or unemployment compensation programs with respect to your performance of Consulting Services during the Consulting Period.

4.Tax Treatment

The Company shall make deductions, withholdings and tax reports with respect to payments and benefits under this Agreement that it reasonably determines to be required. Payments under this Agreement shall be in amounts net of any such deductions or withholdings. Nothing in this Agreement shall be construed to require the Company to make any payments to compensate you for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit.

5.Communications

The Company shall consult with you regarding the text for material public disclosure concerning your anticipated termination of employment. You shall reasonably cooperate with the Company with respect to any such disclosure or other general communication regarding your termination and transition to service as a consultant.

6.Continuing Obligations

You acknowledge that your obligations under the Confidentiality Agreement shall continue in effect, including without limitation your obligations to maintain the confidentiality of Confidential Information as defined in the Confidentiality Agreement, to return documents and other property of the Company, to cooperate with the Company with respect to the procurement, maintenance and enforcement of intellectual property rights, and to refrain from certain competitive and solicitation activities for a period of two (2) years following the end of your employment. A copy of the Confidentiality Agreement is enclosed as Exhibit B. You acknowledge and agree that the terms and obligations of the Confidentiality Agreement are hereby incorporated by reference as material terms of this Agreement. You further agree that notwithstanding anything to the contrary in the Confidentiality Agreement, your obligation not to disclose Confidential Information, as defined in Section 5 of the Confidentiality Agreement, shall apply to Confidential Information that is disclosed to you during the Consulting Period. In addition, you agree that notwithstanding anything to the contrary in the Confidentiality Agreement, your disclosure and assignment obligations provided in Section 7 of the Confidentiality Agreement shall apply to Developments, as defined in Section 7(a) of the Confidentiality Agreement, during the Consulting Period.

7.Return of Property

You shall not dispose of the Company property (including information or documents, including computerized data and any copies made of any computerized data or software (“Documents”)), without authorization. Upon the end of the Consulting Period and earlier if so requested by the Company, you shall 
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return to the Company all Company property including, without limitation, computer equipment, software, keys and access cards, credit cards, files and any Documents containing information concerning the Company, its business or its business relationships (in the latter two cases, actual or prospective). After returning all Company property, you commit to deleting and finally purging any duplicates of files or documents that may contain Company information from any non-Company computer or other device that remains your property after the date of your obligation to return Company property.

8.Non-Disparagement

You agree not to make or endorse any disparaging, derogatory, adverse, and/or otherwise negative remarks and/or statements (whether oral, written, or otherwise) concerning the Company or its current or former officers, directors, partners, shareholders, investors, business partners or employees. These non-disparagement obligations shall not in any way affect your obligation to provide truthful information consistent with the law or legal process.

9.Future Cooperation

During the Transition Period, the Consulting Period and thereafter, you agree to cooperate reasonably with the Company (including its outside counsel) in connection with (i) the contemplation, prosecution and defense of all phases of existing, past and future litigation about which the Company believes you may have knowledge or information; and (ii) responding to requests for information from regulatory agencies or other governmental authorities (together. the “Cooperation Services”). You further agree to make yourself available to provide Cooperation Services at mutually convenient times during and outside of regular business hours as reasonably deemed necessary by the Company’s counsel. The Company shall not utilize this section to require you to make yourself available to an extent that would materially interfere with other commitments that you may have. Cooperation Services include, without limitation, appearing without the necessity of a subpoena to testify truthfully in any legal proceedings in which the Company calls you as a witness. The Company shall reimburse you for any reasonable travel expenses that you incur due to your performance of Cooperation Services, after receipt of appropriate documentation consistent with the Company’s business expense reimbursement policy.

10.Protected Disclosures; Defend Trade Secrets Act of 2016

Nothing in this Agreement shall be interpreted or applied to prohibit you from making any good faith report to any governmental agency or other governmental entity (a “Government Agency”) concerning any act or omission that you reasonably believe constitutes a possible violation of federal or state law or making other disclosures that are protected under the anti-retaliation or whistleblower provisions of applicable federal or state law or regulation. In addition, nothing contained in this Agreement limits your ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including your ability to provide documents or other information, without notice to the Company. In addition, for the avoidance of doubt, pursuant to the federal Defend Trade Secrets Act of 2016, you shall not be held criminally or civilly liable under any federal or state trade secret law or under this Agreement or the Confidentiality Agreement for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

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11.Termination of Payments

If you breach any of your obligations under this Agreement or Confidentiality Agreement, in addition to any other legal or equitable remedies it may have for such breach, the Company shall have the right to terminate its payments to you or for your benefit under this Agreement. The termination of such payments in the event of your breach will not affect your continuing obligations under this Agreement.

12.Non-Admission

This Agreement shall not be construed as an admission of any liability by the Company to you or of any act of wrongdoing by the Company.

13.Legally Binding

This Agreement is a legally binding document and your signature will commit you to its terms. The Company has advised you to consult with counsel before entering into this Agreement. You acknowledge that you have carefully read and fully understand all the provisions of this Agreement and that you are voluntarily entering into this Agreement.

14.Absence of Reliance

In signing this Agreement, you are not relying upon any promises or representations made by anyone at or on behalf of the Company.

15.Enforceability

If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement as well as any portion or provision of any section of the Confidentiality Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

16.Waiver

No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

17.Jurisdiction

You and the Company hereby agree that the Superior Court of the Commonwealth of Massachusetts and the United States District Court for the District of Massachusetts shall have the exclusive jurisdiction to consider any matters related to this Agreement, including without limitation any claim for violation of this Agreement. With respect to any such court action, you (i) submit to the exclusive jurisdiction of such courts, (ii) consent to service of process, and (iii) waive any other requirement (whether imposed by statute, rule of court or otherwise) with respect to personal jurisdiction or venue.

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18.Governing Law; Interpretation

This Agreement shall be interpreted and enforced under the laws of the Commonwealth of Massachusetts, without regard to conflict of law principles. In the event of any dispute, this Agreement is intended by the parties to be construed as a whole, to be interpreted in accordance with its fair meaning, and not to be construed strictly for or against either you or the Company or the “drafter” of all or any portion of this Agreement.

19.Entire Agreement; Effective Date

This Agreement constitutes the entire agreement between you and the Company. This Agreement supersedes any previous agreements or understandings between you and the Company except that the Employment Agreement, the Confidentiality Agreement, the Equity Documents (each of the foregoing as modified herein), and any other obligations specifically preserved in this Agreement remain in full force and effect. This Agreement shall become effective on the date when it becomes fully executed (the “Effective Date”).

20.Counterparts

This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original, but all of which together shall constitute one and the same document. Facsimile and PDF signatures shall be deemed to have the same legal effect as originals.

Please indicate your agreement to the terms of this Agreement by signing and returning to Regina DeTore Paglia (rpaglia@dicerna.com) the original or a PDF of this letter.

Sincerely,

DICERNA PHARMACEUTICALS, INC.

By: /s/ Douglas M. Fambrough III, Ph.D.        4/15/2020                                          
        Douglas M. Fambrough III, Ph.D.   Date
President, Chief Executive Officer

The foregoing is agreed to and accepted by:

        /s/ Ralf Rosskamp                                                           4/16/2020                                          
Ralf Rosskamp  Date

Enclosures: Release Agreement (Exhibit A)
Confidentiality Agreement (Exhibit B)

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EXHIBIT A

RELEASE AGREEMENT

Background
You acknowledge that in connection with the termination of your employment with Dicerna Pharmaceuticals, Inc. (the “Company”), you entered into a letter agreement with a letter date of February 21, 2020 (the “Transition Agreement”). You understand that this is the “Release Agreement” referenced in the Transition Agreement. You understand that this Release Agreement shall be deemed tendered to you upon the Termination Date (as defined in the Transition Agreement) unless the Company substitutes a substantially identical release Agreement in place of this one and tenders such Release Agreement on or promptly after the Termination Date. You further understand that you may not sign this Release Agreement until after the Termination Date but that you must return it to the Company on or before the expiration of the Consideration Period (as defined below).

Release and Related Terms

1.Release of Claims. In consideration for, among other terms, your eligibility for the Severance Benefits, which you acknowledge you would otherwise not be entitled, you voluntarily release and forever discharge the Company, its affiliated and related entities, including, without limitation, its and their respective predecessors, successors and assigns, its and their respective employee benefit plans and fiduciaries of such plans, and the current and former officers, directors, shareholders, partners, employees, attorneys, accountants and agents of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when you sign this Release Agreement, you have, ever had, now claim to have or ever claimed to have had against any or all of the Releasees. This release includes, without limitation, all Claims:

•relating to your employment with the Company;
•of wrongful discharge;
•of breach of contract;
•of retaliation or discrimination under federal, state or local law (including, without limitation, Claims of discrimination or retaliation under the Americans with Disabilities Act, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, and Massachusetts Gen. Law c. 151B);
•under any other federal or state statute;
•of defamation or other torts;
•of violation of public policy;
•for wages, bonuses, incentive compensation, commissions, stock, stock options, vacation pay or any other compensation or benefits, including under the Massachusetts Wage Act, M.G.L. c. 149, §§148-150C, or otherwise; and
•for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees;
provided, however, that this release shall not affect your vested rights under the Company’s 401(k) plan or your rights under the Release Agreement.

You agree not to accept damages of any nature, other equitable or legal remedies for your own benefit or attorney’s fees or costs from any of the Releasees with respect to any Claim released by this Release Agreement. As a material inducement to the Company to enter into this Release Agreement, you represent that you have not assigned any Claim to any third party.

2.Confidentiality Agreement. You acknowledge that your obligations under the Confidentiality Agreement shall continue in effect, including without limitation your obligations to maintain the confidentiality of Confidential Information as defined in the Confidentiality Agreement, to return documents and other property of the Company, to cooperate with the Company with respect to the procurement, maintenance and enforcement of intellectual property rights, and to refrain from certain competitive and solicitation activities for a period of two (2) years following the end of your employment; provided, however, that this Release Agreement hereby amends Sections 2, 3, and 4 in the Confidentiality Agreement such that the non- competition and non-solicitation covenants shall continue for two (2) years following the end of the Consulting Period (as defined in the Transition Agreement). You acknowledge and agree that the terms and obligations of the Confidentiality Agreement are hereby incorporated by reference as material terms of this Release Agreement.

3.Termination of Payments. In the event that you breach any of your obligations under this Release Agreement or the Transition Agreement or otherwise fail to continue to satisfy the Conditions, in addition to any other legal or equitable remedies it may have for such breach, the Company shall have the right to terminate its payments to you or for your benefit under this Release Agreement or the Transition Agreement. The termination of such payments in the event of your breach will not affect your continuing obligations under this Release Agreement or the Transition Agreement.

4.Absence of Reliance. In signing this Release Agreement, you are not relying upon any promises or representations made by anyone at or on behalf of the Company.

5.Enforceability. If any portion or provision of this Release Agreement (including, without limitation, any portion or provision of any section of this Release Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Release Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Release Agreement shall be valid and enforceable to the fullest extent permitted by law.

6.Waiver. No waiver of any provision of this Release Agreement shall be effective unless made in writing and signed by the waiving party. The failure of a party to require the performance of any term or obligation of this Release Agreement, or the waiver by a party of any breach of this Release Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

7.Time for Consideration; Release Effective Date. You acknowledge that you have knowingly and voluntarily entered into this Release Agreement and that the Company advises you to consult with an attorney before signing this Release Agreement. You understand and acknowledge that you have been given the opportunity to consider this Release Agreement for twenty-one (21) days from the day it was deemed tendered to you on the Termination Date before signing it (the “Consideration Period”). To accept this Release Agreement, you must return a signed original or a signed PDF copy of this Release Agreement so that it is received by Regina DeTore Paglia (rpaglia@dicerna.com) at or before the expiration of the Consideration Period. If you sign this Release Agreement before the end of the Consideration Period, you acknowledge that such decision was entirely voluntary and that you had the opportunity to consider this Release Agreement for the entire Consideration Period. For the period of seven (7) business days from the 
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date when you sign this Release Agreement, you have the right to revoke this Release Agreement by written notice to Ms. DeTore Paglia, provided that such notice is delivered so that it is received at or before the expiration of the seven (7) business day revocation period. This Release Agreement shall not become fully effective during the revocation period. This Release Agreement shall become fully effective on the first business day following the expiration of the revocation period.

8.Protected Disclosures. Nothing contained in this Release Agreement or otherwise limits your ability to file a charge or complaint or communicate with any federal, state or local governmental agency or commission (a “Government Agency”). In addition, nothing contained in this Release Agreement or otherwise limits your ability to participate in any investigation or proceeding that may be conducted by any Government Agency, including your ability to provide documents or other information, without notice to the Company, nor does anything contained in this Release Agreement apply to truthful testimony. If you file any charge or complaint with any Government Agency and if the Government Agency pursues any claim on your behalf, or if any other third party pursues any claim on your behalf, you waive any right to monetary or other individualized relief (either individually, or as part of any collective or class action); provided that nothing in this Agreement limits any right that you may have to receive a whistleblower award or other bounty for information provided to the Securities and Exchange Commission.

9.Jurisdiction. You and the Company hereby agree that the Superior Court of the Commonwealth of Massachusetts and the United States District Court for the District of Massachusetts shall have the exclusive jurisdiction to consider any matters related to this Agreement, including without limitation any claim for violation of this Agreement. With respect to any such court action, you (i) submit to the exclusive jurisdiction of such courts, (ii) consent to service of process, and (iii) waive any other requirement (whether imposed by statute, rule of court or otherwise) with respect to personal jurisdiction or venue.

10.Governing Law; Interpretation. This Agreement shall be interpreted and enforced under the laws of the Commonwealth of Massachusetts, without regard to conflict of law principles. In the event of any dispute, this Release Agreement is intended by the parties to be construed as a whole, to be interpreted in accordance with its fair meaning, and not to be construed strictly for or against either you or the Company or the “drafter” of all or any portion of this Release Agreement.

11.Entire Agreement. This Release Agreement constitutes the entire agreement between you and the Company. This Release Agreement supersedes any previous agreements or understandings between you and the Company, except the Transition Agreement, the Confidentiality Agreement (as modified herein and in the Transition Agreement), the Equity Documents (as modified in the Transition Agreement), and any other obligations specifically preserved in this Release Agreement or the Transition Agreement.

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I HAVE READ THIS RELEASE AGREEMENT THOROUGHLY, UNDERSTAND ITS TERMS, HAVE HAD AT LEAST 21 DAYS TO CONSIDER IT BEFORE SIGNING, AND HAVE SIGNED IT KNOWINGLY AND VOLUNTARILY. I UNDERSTAND THAT THIS RELEASE AGREEMENT IS A LEGAL DOCUMENT. I ACKNOWLEDGE THAT I HAVE BEEN ADVISED BY THE COMPANY TO DISCUSS ALL ASPECTS OF THIS RELEASE AGREEMENT WITH MY ATTORNEY AND THAT I HAVE DONE SO IF I SO CHOOSE.

/s/ Ralf Rosskamp                                                            4/16/2020                                          
Ralf Rosskamp      Date
Chief Medical Officer

Accepted and agreed:

DICERNA PHARMACEUTICALS, INC.

By: /s/ Douglas M. Fambrough III, Ph.D.       4/15/2020                                          
Douglas M. Fambrough III, Ph.D.    Date
President, Chief Executive Officer
4Exhibit 10.1

 

	
         

        

         
	
        U.S. Small Business Administration

         

        Note

         

 

	SBA Loan #	PPP 77523572-06
	SBA Loan Name	Cohen & Company, LLC
	Date	May 1,2020
	Loan Amount	$2,165,600.00
	Interest Rate	1.00%; Fixed Rate
	Borrower	Cohen & Company, LLC, a Delaware LLC
	Operating Company	N/A
	Lender	Fifth Third Bank, National Association, a federally chartered institution

 

		1.	PROMISE TO PAY:

 

In return for the Loan, Borrower promises to pay
to the order of Lender the amount of

 

	 	Two million one hundred sixty-five thousand six hundred and 00/100

                                                                                 
	 Dollars

 

interest on the unpaid principal balance, and all
other amounts required by this Note.

 

		2.	DEFINITIONS:

 

“Collateral” means any property taken
as security for payment of this Note or any guarantee of this Note.

 

“Guarantor” means each person or entity
that signs a guarantee of payment of this Note.

 

“Loan” means the loan evidenced by this
Note.

 

“Loan Documents” means the documents
related to this loan signed by Borrower, any Guarantor, or anyone who pledges collateral.

 

“SBA” means the Small Business Administration,
an Agency of the United States of America.

 

    Page 1

     

    

 

 

		3.	PAYMENT TERMS:

 

Borrower must make all payments at the place Lender
designates. The payment terms for this Note are:

 

Repayment terms:

 

The interest rate is 1% per year. The interest rate
may only be changed in accordance with SOP 50 10.

 

Borrower must pay principal and interest payments
of $121,265.82 every month, beginning seven months from the month this Note is dated; payments must be made on the 1st calendar
day in the months they are due.

 

Lender will apply each installment first to pay interest
accrued to the day Lender receives the payment, then to bring principal current, then to pay any late fees, and will apply any
remaining balance to reduce principal.

 

Loan Prepayment:

 

Notwithstanding any provision in this Note to the
contrary:

 

Borrower may prepay this Note. Borrower may prepay
20 percent or less of the unpaid principal balance at any time without notice. If Borrower prepays more than 20 percent and the
Loan has been sold on the secondary market, Borrower must:

 

a. Give Lender written notice;

 

b. Pay all accrued interest; and

 

c. If this prepayment is received less than 21 days
from the date Lender receives the notice, pay an amount equal to 21 days’ interest from the date lender receives the notice,
less any interest accrued during the 21 days and paid under subparagraph b., above.

 

If Borrower does not prepay within 30 days from the
date Lender receives the notice, Borrower must give Lender a new notice.

 

All remaining principal and accrued interest is due
and payable 2 years and 0 months from date of Note.

 

		4.	DEFAULT:

 

Borrower is in default under this Note if Borrower
does not make a payment when due under this Note, or if Borrower or Operating Company:

 

		A.	Fails to do anything required by this Note and other Loan Documents;

 

		B.	Defaults on any other loan with Lender;

 

		C.	Does not preserve, or account to Lender’s satisfaction for, any of the Collateral or its proceeds;

 

		D.	Does not disclose, or anyone acting on their behalf does not disclose, any material fact to Lender or SBA;

 

		E.	Makes, or anyone acting on their behalf makes, a materially false or misleading representation to Lender or SBA;

 

		F.	Defaults on any loan or agreement with another creditor, if Lender believes the default may materially affect Borrower’s
ability to pay this Note;

 

		G.	Fails to pay any taxes when due;

 

		H.	Becomes the subject of a proceeding under any bankruptcy or insolvency law;

 

		I.	Has a receiver or liquidator appointed for any part of their business or property;

 

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		J.	Makes an assignment for the benefit of creditors;

 

		K.	Has any adverse change in financial condition or business operation that Lender believes may materially affect Borrower’s
ability to pay this Note;

 

		L.	Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender’s prior written
consent; or

 

		M.	Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower’s ability to pay
this Note.

 

		5.	LENDER’S RIGHTS IF THERE IS A DEFAULT:

 

Without notice or demand and without giving up any
of its rights, Lender may:

 

		A.	Require immediate payment of all amounts owing under this Note;

 

		B.	Collect all amounts owing from any Borrower or Guarantor;

 

		C.	File suit and obtain judgment;

 

		D.	Take possession of any Collateral; or

 

		E.	Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without advertisement.

 

		6.	LENDER’S GENERAL POWERS:

 

Without notice and without Borrower’s consent,
Lender may:

 

		A.	Bid on or buy the Collateral at its sale or the sale of another lienholder, at any price it chooses;

 

		B.	Incur expenses to collect amounts due under this Note, enforce the terms of this Note or any other Loan Document, and preserve
or dispose of the Collateral. Among other things, the expenses may include payments for property taxes, prior liens, insurance,
appraisals, environmental remediation costs, and reasonable attorney’s fees and costs. If Lender incurs such expenses, it
may demand immediate repayment from Borrower or add the expenses to the principal balance;

 

		C.	Release anyone obligated to pay this Note;

 

		D.	Compromise, release, renew, extend or substitute any of the Collateral; and

 

		E.	Take any action necessary to protect the Collateral or collect amounts owing on this Note.

 

		7.	WHEN FEDERAL LAW APPLIES:

 

When SBA is the holder, this Note will be interpreted
and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording
documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity
from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local
or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.

 

		8.	SUCCESSORS AND ASSIGNS:

 

Under this Note, Borrower and Operating Company include
the successors of each, and Lender includes its successors and assigns.

 

		9.	GENERAL PROVISIONS:

 

		A.	All individuals and entities signing this Note are jointly and severally liable.

 

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		B.	Borrower waives all suretyship defenses.

 

		C.	Borrower must sign all documents necessary at any time to comply with the Loan Documents and to enable Lender to acquire, perfect,
or maintain Lender’s liens on Collateral.

 

		D.	Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender may delay or
forgo enforcing any of its rights without giving up any of them.

 

		E.	Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.

 

		F.	If any part of this Note is unenforceable, all other parts remain in effect.

 

		G.	To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including presentment,
demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any claim that Lender did not obtain any
guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral; or did not obtain the fair market
value of Collateral at a sale.

 

		10.	STATE-SPECIFIC PROVISIONS:

 

WARRANT OF ATTORNEY/CONFESSION OF JUDGMENT. In addition
to any other remedies Lender may possess, Borrower knowingly, voluntarily and intentionally authorizes any attorney to appear on
behalf of Borrower, from time to time, in any court of record possessing jurisdiction over this Note and to waive issuance and
service of process and to confess judgment in favor of Lender against Borrower, for the unpaid principal, accrued interest, accrued
charges, reasonable attorney fees and court costs and such other amount due under this Note.

 

		11.	BORROWER’S NAME(S) AND SIGNATURE(S):

 

By signing below, each individual or entity becomes
obligated under this Note as Borrower.

 

	Cohen & Company, LLC, a Delaware LLC	 	 
	 	 	 
	 	 	 
	/s/
    Daniel G. Cohen	 	May 4, 20202	 
	Signature of Authorized Representative
    of Borrower 	 	Date
	 	 	 
	 	 	 
	 	 	 
	Daniel Cohen	 	Founder and Chairman
	Name of Authorized Representative of Borrower
    	 	Title

 

    Page 4

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