Document:

EX-10.16

 Exhibit 10.16 

[***] Certain information in this document has been omitted from this exhibit pursuant to Item 601(b) of Regulation
S-K because it is both not material and is the type that the Registrant treats as private or confidential. 

EXCLUSIVE OPTION AGREEMENT 
 This Option
Agreement (“Option” or “Agreement”) between THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY (“Stanford”), an institution of higher education having powers under the laws of the State of California, and
Graphite Bio, Inc., a Delaware corporation (“Graphite”), having a principal place of business at 279 East Grand Ave., South San Francisco, CA 94080, is effective on the 12th day of
April, 2021 (“Effective Date”). 
  

	1.	 BACKGROUND 

Stanford has assignments of certain inventions listed below from the laboratory of Professor Matthew Porteus (“Principal
Investigator”) related to guide RNAs for gene editing: 
  

	 	(A)	 [***], entitled “[***]”. The invention described in Stanford Docket [***] is co-owned by Stanford and [***] and was made in the course of research supported by the National Institute of Health, Amon G. Carter Foundation, Danish Council for Independent Research, and Myotonic Dystrophy
Foundation. 

  

	 	(B)	 [***], entitled “[***]”. The invention was made in the course of research supported by the Amon G.
Carter Foundation and a gift from Joe Lacob; 

  

	 	(C)	 [***], entitled “[***]”. The invention was made in the course of research supported by the Amon G.
Carter Foundation and a gift from Joe Lacob. 

  

	 	(D)	 [***], entitled “[***]”. The invention was made in the course of research supported by the Amon G.
Carter Foundation and a gift from Joe Lacob. Since no patent application has yet been filed for this case, Graphite understands and agrees that there may be additional sponsors; 

 

	 	(E)	 [***], entitled “[***]” and the related US provisional patent application [***]. The invention was
made in the course of research supported by the National Institute of Health (NIH), the National Organization for Rare Disorders (NORD), and the Thrasher Research Fund; and 

 

	 	(F)	 [***], entitled “[***]”. The invention was made in the course of research supported by the California
Institute of Regenerative Medicine (“CIRM”) and the Department of Veterans Affairs (“VA”). Therefore, any option or subsequent license is/will be subject to the terms of the: (1) CIRM grant and (2) an
Invention Management Agreement (IMA) between the VA and Stanford, with an effective date of August 24, 2017 that authorizes Stanford to exclusively manage certain inventions on behalf of both Stanford and the VA, provided VA has provided an
official notification. Stanford has not yet received such notification but is in the process of obtaining one. To date, the invention has been managed by the Stanford. 

	 	(G)	 [***], entitled “[***]”. The invention was made in the course of research supported by the National
Institutes of Health (NIH). 

  

	 	(H)	 [***], entitled “[***]”. The invention described in Docket [***] is subject to [***] and was made in
the course of research supported by the National Institute of Health. 

  

	 	(I)	 [***], entitled “[***]”. The invention was made in the course of research supported by the National
Institute of Health. 

 Stanford and Graphite are parties to that certain Exclusive License Agreement effective
December 7, 2020 (the “Existing License Agreement”). 
 Stanford wants to have these additional inventions perfected
and marketed as soon as possible so that resulting products may be available for public use and benefit. 
 The parties agree as follows:

  

	2.	 DEFINITIONS 

Whenever used in this Agreement with an initial capital letter, the following terms, whether used in the singular or the plural, shall have the
meanings specified below. 
  

	2.1	 “Affiliate” means any person, corporation, or other business entity which controls, is
controlled by, or is under common control with Graphite; and for this purpose, “control” of a corporation means the direct or indirect ownership of more than fifty percent (50%) of its voting stock, and “control” of any other
business entity means the direct or indirect ownership of greater than a fifty percent (50%) of the equity interests in such entity with the power to direct the management and policies of such entity. A person or entity shall be deemed an Affiliate
only for so long as such control exists. 

  

	2.2	 “Amended License Agreement” has the meaning set forth in Section 3.1.

  

	2.3	 “[***]” means [***]. 

 

	2.4	 “CIRM” has the meaning set forth in the preamble. 

 

	2.5	 “Commercialization Plan” means a reasonably detailed business plan for each contemplated
product and service containing, but not limited to, the following information: [***]. 

  

	2.6	 “[***]” has the meaning set forth in [***]. 

 

	2.7	 “Exclusive” means that, subject to Sections 3 and 4, Stanford will not grant further licenses
under the Optioned Patents in the Option Field of Use in the Licensed Territory. 

  

	2.8	 “Exclusively Licensed” shall have the meaning ascribed to the term “Exclusive” as
set forth in the Existing License Agreement, as it may be amended from time to time. 

  

	2.9	 “Exercise of Option Notification” has the meaning set forth in Section 4.1(A).

  
  

PAGE 2 OF 18 

	2.10	 “Existing License Agreement” has the meaning set forth in the preamble. 

 

	2.11	 “Initial Field of Use” shall have the meaning set forth in the Existing License Agreement, as
it may be amended from time to time. 

  

	2.12	 “Licensed Patents” shall have the meaning set forth in the Existing License Agreement, as it
may be amended from time to time. 

  

	2.13	 “Licensed Product” means a product, method or service in the Option Field of Use or Initial
Field of Use: 

  

	 	(A)	 the making, having made, using, importing or selling of which, absent the License Agreement, infringes, induces
infringement, or contributes to infringement of an Optioned Patent; or 

  

	 	(B)	 which is made with, uses or incorporates any Optioned Technology. 

 

	2.14	 “Licensed Technology” shall have the meaning ascribed to the term “Technology” as
set forth in the Existing License Agreement, as it may be amended from time to time. 

  

	2.15	 “Licensed Territory” means worldwide; provided, however, that to the extent Stanford does not
have a right as of the Effective Date to grant the licenses contemplated by Section 3.1 below under any of the Optioned Patents in the Option Field of Use worldwide, the “Licensed Territory” with respect to such Optioned Patents shall
exclude such jurisdictions in which Stanford does not have such right; and provided further, however, that Graphite shall have the right to reduce the Licensed Territory from worldwide to a list of specified jurisdictions upon written request to
Stanford. 

  

	2.16	 “List of Indications” means the following diseases or indications:

  

	 	(A)	 [***], Gaucher Disease, Krabbe Disease, and [***]; 

 

	 	(B)	 [***]; 

  

	 	(C)	 Cystic Fibrosis; and 

 

	 	(D)	 Hemophilia A/B, Alpha-1 Antitrypsin Deficiency, Hereditary Angioedema,
and [***]. 

  

	2.17	 “Negotiation Period” has the meaning set forth in Section 4.2. 

 

	2.18	 “New License Agreement” has a meaning set forth in Section 3.1. 

 

	2.19	 “Option” has the meaning set forth in Section 3.1. 

 

	2.20	 “Option Field of Use” means human prophylactics and therapeutics, specifically excluding
commercialization of research reagents, research tools, reagent kits, diagnostics and research products, solely for the following indications: 

  
  

PAGE 3 OF 18 

	 	(A)	 “CCR5 Integration Program Field of Use”: treatment of diseases though insertion of a construct
into the CCR5 locus, including the treatment of [***], Gaucher Disease, Krabbe Disease, & [***]. Stanford Docket [***]. 

  

	 	(B)	 “Primary Immunodeficiency Program Field of Use”: treatment of [***]. Stanford Dockets [***].

  

	 	(C)	 “Cystic Fibrosis Program Field of Use”: treatment of Cystic Fibrosis. Stanford Dockets [***].

  

	 	(D)	 “Alpha Globin Program Field of Use”: treatment of diseases though insertion of a construct
into the alpha-globin locus, including the treatment of Hemophilia A/B, Alpha-1 Antitrypsin Deficiency, Hereditary Angioedema, [***]. Stanford Dockets [***]. 

 

	2.21	 “Optioned Patents” means: 

 

	 	(A)	 Stanford’s and the VA’s rights in the patent applications and patents set forth in Exhibit B, and any
divisionals, continuations, Continuations-in-Part (as defined below), or substitute applications; any patents issued or granted from any such patent applications; any
reissues, renewals, reexamination, extension (including by virtue of any supplementary protection certificate) of any such patents; any confirmation patents, inventor’s certificates, applications for inventor’s certificate or registration
patents or patents of addition based on any such patents; and all foreign counterparts or equivalents in any country or jurisdiction of any of the foregoing patent applications and patents. “Continuation-in-Part” means any claims of any continuation-in-part patent application to the extent the claims are
entirely supported in the parent application’s original specification and entitled to the parent application’s priority date. 

  

	 	(B)	 Subject to any Third-Party restrictions or sponsor obligations, Stanford’s rights in unfiled patents
related to the Stanford Dockets included in the Option Fields of Use and solely developed in the laboratory of Matthew Porteus, as Stanford and Graphite mutually agree in their sole discretion and as set forth in an amendment to this Agreement.

  

	2.22	 “Optioned Technology” means Stanford’s and the VA’s rights in the additional know-how, data and materials specifically listed in Exhibit A to this Agreement or as amended by the mutual written agreement of the parties during the Option Period or for up to six (6) months after the
effective date of execution of the Amended License Agreement or New License Agreement by the Parties, provided that such Optioned Technology: (a) was developed in the laboratory of Principal Investigator, (b) exists as of or is developed
within six (6) months after the effective date of the Amended License Agreement or New License Agreement and for which Stanford has received a consent in writing from the Principal Investigator and/or other lead contributors, (c) is
necessary or useful for research, development or commercialization of Licensed Products, (d) is unpublished, and (e) is not covered by any Third Party rights that would prevent delivery to Graphite.

  
  

PAGE 4 OF 18 

 
Optioned Technology may or may not be confidential in nature. The Optioned Technology identified as Exclusive under the heading “Exclusivity” in Exhibit A shall be referred to
herein as the “Exclusive Technology.” The Optioned Technology identified as Non-Exclusive under the heading “Exclusivity” in Exhibit A shall be referred to herein as the
“Nonexclusive Technology.” 
  

	2.23	 “OTL” has the meaning set forth in Section 4.1(B). 

 

	2.24	 “Principal Investigator” has the meaning set forth in the preamble. 

 

	2.25	 “Right to Use” has the meaning set forth in Section 3.1. 

 

	2.26	 “Rx Field of Use” means human prophylactics and therapeutics, excluding commercialization of
research reagents and research products. 

  

	2.27	 “Stanford Indemnitees” means Stanford, VA, Stanford Health Care, Lucile Packard
Children’s Hospital at Stanford and their respective trustees, officers, employees, students, agents, faculty, representatives, and volunteers. 

  

	2.28	 “Third Party” means any person or entity other than Stanford, Graphite or Graphite’s
Affiliates. 

  

	2.29	 “VA” has the meaning set forth in the preamble. 

 

	3.	 GRANT 

  

	3.1	 Grant. Subject to the terms and conditions of this Agreement, Stanford grants Graphite (a) the
right to use the Optioned Patents and Optioned Technology during the Term and only in the Option Field of Use (the “Right to Use”), solely to provide the Optionee the opportunity to determine its interest in exercising the Option;
and (b) a time-limited Option (the “Option”) to elect to obtain, during the Negotiation Period (as defined below), a license under Stanford’s rights in (i) Optioned Patents and Optioned Technology for the Option Field
of Use and Initial Field of Use and (ii) Licensed Patents and Licensed Technology for the Option Field of Use, in each case, to make, have made, use, import, offer to sell and sell and otherwise commercially exploit Licensed Products and
Technology in the Licensed Territory through either an amendment to the Existing License Agreement (“Amended License Agreement”) or through a separate license agreement (“New License Agreement”). Such license under
Optioned Patents and Licensed Patents, including the right to sublicense, shall be Exclusively Licensed in the indications specified at the time of exercise within the Option Field of Use and in the Initial Field of Use. Such license under the
Exclusive Technology, including the right to sublicense, shall be (1) Exclusively Licensed in the indications specified at the time of exercise within the Initial Field of Use and in the Option Field of Use and
(2) non-exclusive in the any other fields within the Rx Field of Use. Such license under the Nonexclusive Technology shall be non-exclusive in all fields in the Rx
Field of Use. The Parties agree that the term “indications specified at the time of exercise” as used above is not intended to be limiting and, among other means of identification, may be specified by

  
  

PAGE 5 OF 18 

	 	
a list of specific indications, by therapeutic area or by site of insertion of a construct, and in cases of specification by site of insertion of a construct, the Parties may agree on a process
akin to that described in Section 4.1(B) to ensure that the applicable Optioned Patents may be exploited for indications that are not being, and not intended to be, researched, developed or commercialized by Graphite, its Affiliates or
sublicensees. The Right to Use does not give Graphite any right to import, sell or offer to sell Licensed Products prior to entering into an Amended License Agreement or a New License Agreement. During the Option Period (and if Graphite exercises
the Option, during the Negotiation Period), unless otherwise agreed to by Graphite in writing in its sole and absolute discretion, Stanford will not grant to any third party any right or license, or option to negotiate or acquire a right or license,
under Stanford’s interest in the Optioned Patents or Technology in the Option Field of Use or Initial Field of Use to make, have made, use, import, offer to sell and sell or otherwise commercially exploit: (x) the Licensed Products in the
Licensed Territory, nor (y) the Optioned Patents in any manner that diminishes the ability of Graphite to receive the full benefit of the Option. The Right to Use specifically excludes right under the Optioned Patents and Optioned Technology to
use Licensed Products in humans. The parties hereby agree that [***]. 

  

	3.2	 Term. Unless otherwise terminated by operation of law or by acts of the parties in accordance with the
terms of this Agreement, the term of the right to elect to exercise this Option shall commence on the Effective Date and expires 12 months from the Effective Date, or upon Graphite’s termination as provided in Section 4.1 below. Any
termination or expiration of this Agreement will not relieve Graphite of its obligation to pay any fees or monies, including the Option fee, due or owing at the time of termination or expiration and will not impair any accrued rights of Stanford.
Graphite may elect to extend the term of the Option in 1-year increments for a maximum of 2.0 years so that the total term of this Option may not exceed 3.0 years, provided that: 

 

	 	(A)	 Graphite gives 30 days’ prior notice to Stanford for each of the two extensions; 

 

	 	(B)	 Stanford and Graphite mutually agree (not to be unreasonably withheld) to each] extension provided Graphite is
in compliance with its obligations under Section 7; and 

  

	 	(C)	 Graphite pays the appropriate compensation under Section 8.1. 

 

	4.	 EXERCISE OF OPTION 

 

	4.1	 Exercise. 

  

	 	(A)	 If [***] or Stanford otherwise agrees in writing, Graphite may exercise this Option by providing written notice
to Stanford that includes Optioned Patents and Optioned Technology under one or more of the Option Field of Use. If [***], Graphite may only exercise this Option for Optioned Patents [***], by providing written notice to Stanford that includes
Optioned Patents and Optioned Technology under one or more of the Option Field of Use. The Parties will then determine in good faith whether such Option Patents or Optioned Technology could be included in the Amended

  
  

PAGE 6 OF 18 

	 	
License Agreement or should be included in a New License Agreement. Graphite may exercise this Option at any time during the term of the Option but prior to the expiration of this Agreement
(“Exercise of Option Notification”). Such Exercise of Option Notification shall, (i) identify the particular patent applications, patents and specific indication(s) within the Option Field of Use for which Graphite wishes to
obtain a license from Stanford, and (ii) include a written Commercialization Plan for at least one contemplated product and service within the applicable field of use. Stanford shall not be obligated to Graphite in any way to negotiate a
license agreement for the Optioned Patents and shall deem that Graphite wishes not to exercise the Option to secure a license agreement if: (a) Graphite fails to notify Stanford its election to exercise the Option to negotiate a license within
the required time period; or (b) Graphite fails to provide a Commercialization Plan to Stanford within thirty (30) days after the time it elects to exercise its right to negotiate a license; or (c) Graphite fails to provide Stanford
at the time it elects to exercise its right to negotiate a license with a written certification signed by a senior executive officer of Graphite, authorized to provide such certification on behalf of Graphite at the time such certification is
provided, that Graphite is in compliance with the terms in Section 7 (Diligence). The Option may be exercised from time to time in one or more parts with respect to one or more Optioned Patents and elements of Optioned Technology in one or more
Option Field of Use. 

  

	 	(B)	 [***] 

  

	4.2	 Negotiation. If Graphite has provided Stanford an Exercise of Notification, provided that Graphite is in
compliance with the Existing License Agreement, and further provided the Commercialization Plan is reasonably acceptable to Stanford, Graphite and Stanford will promptly commence negotiation of an Amended License Agreement to include or a New
License Agreement that includes Optioned Patents and Optioned Technology along with any additional financial terms and diligence milestones commensurate with the value and stage of development of the technology covered by Optioned Patents and
Optioned Technology taking into consideration the Commercialization Plan, the scope of license sought by Graphite, industry standards and Stanford’s legal obligations to any third party; provided, however, that Graphite and Stanford acknowledge
that absent material and substantial differences between the Option Field of Use being licensed and the Initial Fields of Use licensed under the Existing License Agreement, the financial terms of such Amended License Agreement or New License
Agreement would be the same as those set forth in the Existing License Agreement (excluding any grant of additional equity by Graphite). Graphite and Stanford will execute an Amended License Agreement or a New License Agreement no later than 3
months after the date of the Exercise of Option Negotiation. The parties will negotiate the terms in good faith. Notwithstanding any other provision of this Option to the contrary, neither party will be obligated to negotiate a license agreement
beyond the period of (i) six (6) months from receipt of Exercise of Option Notification (“Negotiation Period”), or (ii) expiration or termination of the Option, whichever is later unless otherwise mutually agreed in
writing by the parties. Without limiting the foregoing sentence, any discussions and/or negotiations between the parties subsequent to the Negotiation Period will not be construed to extend or revive the option granted hereunder or any party’s
obligation to negotiate the terms of the license agreement. The parties mutually acknowledge that good-faith negotiations may or may not result in the execution of the license agreement. 

  
  

PAGE 7 OF 18 

	4.3	 Materials Transfer. To the extent Stanford has legal rights to do so, the exercise of the Option would
also include materials transfer of any materials included in the Optioned Technology. 

  

	4.4	 Retained Rights. Stanford retains the right, on behalf of itself, Stanford Health Care, Lucile Packard
Children’s Hospital at Stanford, and all other non-profit research institutions, to practice the Optioned Patent and use Optioned Technology for any non-profit
purpose, including sponsored research and collaborations. Graphite agrees that, notwithstanding any other provision of this Agreement, it has no right to enforce the Optioned Patent against any such institution. Stanford and any such other
institution have the right to publish any information included in any Optioned Technology or Optioned Patent. 

  

	4.5	 Specific Exclusion. Stanford does not: 

 

	 	(A)	 grant to Graphite any other licenses, implied or otherwise, to any patents or other rights of Stanford or the
VA other than those rights granted under Optioned Patent, regardless of whether the patents or other rights are dominant or subordinate to any Optioned Patent, or are required to exploit any Optioned Patent or Optioned Technology; or

  

	 	(B)	 agree to furnish to Graphite any technology or technological information other than the Optioned Technology or
to provide Graphite with any assistance. 

  

	 	(C)	 make any representation or warranty, and expressly disclaims any such representation or warranty, express or
implied, that it is the sole owner of the Optioned Patents or Optioned Technology. 

  

	5.	 GOVERNMENT RIGHTS 

 

	5.1	 This Agreement is subject to Title 35 Sections 200-204 of the United
States Code. Among other things, these provisions provide the United States Government with nonexclusive rights in the Optioned Patent. They also impose the obligation that Licensed Product sold or produced in the United States be “manufactured
substantially in the United States.” Graphite will ensure all obligations of these provisions are met. 

  

	5.2	 In addition, due to obligations to CIRM and Department of Veterans Affairs, any rights to [***] are subject to
(a) Title 17, California Code of Regulations and the provisions of section 100607 under Title 17 place requirements on Graphite for access to Licensed Product in California
(https://www.cirm.ca.gov/our-funding/cirm-stem-cell-grant-regulations). Any unfiled patents of undisclosed technology amended to be included as Optioned Patents or undisclosed Optioned Technology may be
subject to further obligations to CIRM. 

  
  

PAGE 8 OF 18 

	5.3	 The United States Government shall have the nonexclusive, nontransferable, irrevocable, royalty-free, paid-up right to practice or have practiced the Optioned Patent subject to the IMA throughout the world by or on behalf of the United States Government and on behalf of any foreign government or international
organization pursuant to any existing or future treaty or agreement to which the United States Government is a signatory. 

  

	5.4	 Graphite certifies that it is in good standing to do business with the federal government regarding debarment,
suspension, proposed debarment or other matters rendering them ineligible. 

  

	6.	 THIRD PARTY OBLIGATION AND RIGHTS: 

 

	6.1	 This Agreement is further subject to overriding obligations and rights to the VA and CIRM.

  

	7.	 DILIGENCE 

  

	7.1	 Graphite agrees to exercise due diligence in conducting research on potential commercial applications for
Optioned Patents and Optioned Technology. 

  

	7.2	 Graphite shall undertake the requisite research and will spend a minimum of $[***] annually to develop and
evaluate Licensed Products in the Option Field of Use to determine its interest in exercising the option. 

  

	7.3	 Graphite also shall undertake reasonable efforts to: 

 

	 	(A)	 For the [***] 

  

	 	(a)	 [***] 

  

	 	(b)	 [***] 

  

	 	(c)	 [***] 

  

	 	(B)	 For the [***] 

  

	 	(a)	 [***] 

  

	7.4	 The Parties agree to have a good faith discussion about modifying existing diligence efforts or adding
additional diligence efforts for other Option Field of Uses at each extension period to ensure that Graphite still plans to develop those additional Option Field of Uses and amending Section 7.3 above, as appropriate 

  
  

PAGE 9 OF 18 

	8.	 CONSIDERATION 

 

	8.1	 In consideration of the grant by Stanford of the Right to Use and Option and for Stanford’s forbearance
from licensing other companies in the Option Field of Use during the term of the Option, Graphite will pay Stanford a non-refundable and non-creditable Option fees of:

  

	 	(A)	 $10,000 within 30 days after the Effective Date; 

 

	 	(B)	 $10,000 within 30 days after the first anniversary of the Effective Date if the Option Period has been extended
for a first additional year; and 

  

	 	(C)	 $10,000 within 30 days after the second anniversary of the Effective Date if the Option Period has been
extended for a second additional year. 

  

	9.	 PATENT PROSECUTION 

 

	9.1	 Prosecution. Subject to Section 9.3, Stanford shall diligently endeavor to prosecute and maintain
the United States and foreign patents comprising Optioned Patents. Stanford shall use reasonable efforts to amend any patent application to include claims reasonably requested by Graphite and required to protect the Licensed Products. Stanford
understands and agrees that Stanford’s counsel will take instructions only from Stanford, and all patents and patent applications under this Option shall be assigned solely to Stanford. 

 

	9.2	 Confidentiality. Graphite agrees to keep all documents related to filing, prosecution and maintenance of
patent applications confidential. 

  

	9.3	 Patent Costs. Within 30 days after receiving a reasonably detailed statement of Stanford’s actual
costs incurred in the filing, prosecution or maintenance of the Optioned Patents in accordance with Stanford’s usual practice, provided Stanford will provide further details if Graphite requests such for a specific invoice, Graphite will
reimburse Stanford for all Optioned Patent’s patenting expenses after the Effective Date and during the term of the Option and any Negotiation Period, including but not limited to interference or reexamination matters, inventorship disputes and
opposition proceedings, in each case, reasonably incurred by Stanford after the Effective Date. Stanford will pay the fees prescribed for large entities to the United States Patent and Trademark Office. If Graphite requests that Stanford pay fees
prescribed for a small entity, then Graphite will bear all responsibility for notifying Stanford if its status changes to large entity.    Graphite is herein notified that the determination of entity size for the United States
Patent and Trademark Office depends not only on the size of Graphite, but also may depend on the size of any companies to which Graphite has granted licenses. 

 

	9.4	 In the event the Option is terminated under the terms set forth in Section 11 (Termination), Stanford may
continue prosecution and/or maintenance of such patent applications or patents at its sole discretion and expense, and Graphite will have no further rights or licenses thereunder. 

 

	10.	 INDEMNITY 

  

	10.1	 Indemnification. Graphite will indemnify, hold harmless, and defend all Stanford Indemnitees against any
claim of any kind arising out of or related to the exercise of any rights granted Graphite under this Agreement, or the breach of this Agreement by Graphite. 

  
  

PAGE 10 OF 18 

	10.2	 No Indirect Liability. Stanford is not liable for any special, consequential, lost profit, expectation,
punitive or other indirect damages in connection with any claim arising out of or related to this Agreement, whether grounded in tort (including negligence), strict liability, contract, or otherwise, and regardless of any notice of the possibility
of such damages. Except for liability arising under its indemnification obligations under Section 10.1 or for any use by Graphite of the Optioned Patents and Optioned Technology that is outside the scope of the rights to such intellectual
property granted to Graphite under this Agreement, Graphite is not liable for any special, consequential, lost profit, expectation, punitive or other indirect damages in connection with any claim arising out of or related to this Agreement, whether
grounded in tort (including negligence), strict liability, contract, or otherwise, and regardless of any notice of the possibility of such damages.. Furthermore, despite the obligation to negotiate during the Negotiation Period in good faith,
neither Stanford nor Graphite shall have any liability for refusing to compromise on any issue, accepting risks associated with any unresolved legal claim, or for failing to execute any agreement. 

 

	10.3	 Workers’ Compensation. Graphite will comply with all statutory workers’ compensation and
employers’ liability requirements for activities performed under this Agreement. 

  

	10.4	 Insurance. During the term of this Agreement, Graphite will maintain such Commercial General Liability
Insurance and Product Liability Insurance as are required under the terms of the Existing License Agreement. 

  

	11.	 TERMINATION 

  

	11.1	 Termination by Graphite. Graphite agrees to promptly notify Stanford at any time during the term of this
Option when Graphite has determined not to exercise the Option. Graphite also agrees to provide Stanford, in reasonable detail, the basis for this determination. 

 

	11.2	 Termination by Stanford. Stanford may terminate this Agreement upon thirty (30) days written notice
to Company if Company is in material breach of its obligations, including but not limited to its payment obligations under Article 6 herein, unless, before the end of the thirty (30) day period, Company has cured the breach or default to the
reasonable satisfaction of Stanford and so notifies Stanford in writing, stating the manner of the cure. 

  

	11.3	 Bankruptcy. This Option will automatically terminate without the obligation to provide thirty
(30) days’ notice as set forth in Article 15 upon the filing of a petition for relief under the United States Bankruptcy Code by or against the Graphite as a debtor or alleged debtor. 

  
  

PAGE 11 OF 18 

	11.4	 No Residual Rights. Upon expiration or termination of this Option, or upon Graphite’s decision not
to enter into a License Agreement, whichever is earlier, Graphite will have no residual or other rights in Optioned Patent or Optioned Technology. 

  

	12.	 STANFORD NAMES AND MARKS 

Graphite will not use (i) Stanford’s or the VA’s name or other trademarks, (ii) the name or trademarks of any organization
related to Stanford or the VA, or (iii) the name of any Stanford faculty member, employee, student or volunteer or any VA employee. This prohibition includes, but is not limited to, use in press releases, advertising, marketing materials, other
promotional materials, presentations, case studies, reports, websites, application or software interfaces, and other electronic media.    Notwithstanding the foregoing, Graphite may include Stanford’s name in factual
statements in legal proceedings, patent applications, regulatory filings and, as applicable, in biographies of its officers, directors, employees and advisors. In addition, Graphite may make a short factual statement that identifies Stanford as the
grantor of the rights granted under this Agreement to actual or potential investors or acquirers, as well as in the “About Graphite” or other similar section of the Graphite website. 

 

	13.	 EXCLUSIONS AND NEGATION OF WARRANTIES 

 

	13.1	 Negation of Warranties. Stanford provides Graphite the rights granted in this Agreement AS IS and WITH
ALL FAULTS. Stanford makes no representations and extends no warranties of any kind, either express or implied. Among other things, Stanford disclaims any express or implied warranty: 

 

	 	(A)	 of merchantability, of fitness for a particular purpose; 

 

	 	(B)	 of non-infringement; or 

 

	 	(C)	 arising out of any course of dealing. 

 

	13.2	 No Representation of Licensed Patent. Graphite also acknowledges that Stanford does not represent or
warrant: 

  

	 	(A)	 the validity or scope of any Optioned Patent or Optioned Technology; or 

 

	 	(B)	 that the exploitation of the Optioned Patents or Optioned Technology will be successful. 

  
  

PAGE 12 OF 18 

	14.	 CONFIDENTIALITY 

 

	14.1	 Graphite and Stanford agree that any information disclosed by either party to the other party pursuant to this
Agreement, which would, given the nature and context of the disclosure, reasonably be deemed to be proprietary or confidential (“Confidential Information”), shall be maintained in confidence by the receiving Party, and the receiving Party
will use all reasonable diligence to prevent disclosure except to necessary personnel including their employees, agents, consultants, contractors, and sponsors of research, provided that such parties are bound by a like duty of confidentiality as
that found in this Section 14. Graphite’s and Stanford’s obligations under this confidentiality clause shall remain in effect for the Term and a period of three (3) years thereafter. Graphite and Stanford shall not have any
obligation of confidentiality with respect to information that: 

  

	 	(A)	 that recipient can demonstrate by written records was previously known to it prior to its disclosure by the
disclosing party; 

  

	 	(B)	 that recipient can demonstrate by written records is now, or becomes in the future, public knowledge other than
through acts or omissions of recipient; 

  

	 	(C)	 that recipient can demonstrate by written records was obtained lawfully and without restrictions on the
recipient from sources independent of the disclosing party; and 

  

	 	(D)	 that is required to be disclosed by law, provided that the recipient uses reasonable efforts to give the
disclosing party sufficient notice of such required disclosure to allow the disclosing party reasonable opportunity to object to, and to take legal action to prevent, such disclosure. 

 

	14.2	 Upon termination of this Option, Graphite and Stanford will destroy or return any of the disclosing
party’s Confidential Information in its possession within fifteen (15) days following the termination or expiration of this Option; provided, however, that a party shall not have any obligation to destroy the disclosing party’s
Confidential Information contained in routine, electronic back-up files unless and until such Confidential Information is accessed; and provided further, however, that Graphite’s obligation to destroy
Confidential Information of Stanford that relates to Licensed Products shall apply only to such Licensed Products that Graphite is obligated to destroy pursuant to Section 15. Each party also may, however, retain one copy of such Confidential
Information for archival purposes in non-working files. 

  

	15.	 DISPOSITION OF LICENSED PRODUCT 

 

	15.1	 Graphite shall destroy those Licensed Products for an Option Field of Use (a) with respect to which
Graphite undertook research or development activities in the exercise of its rights hereunder, (b) the making, using or selling of which is covered by an Optioned Patent and (c) that remain in the possession or control of Graphite or its
Affiliates, within fifteen (15) days after any of the following events have occurred: (i) the date of termination or expiration of the Option with respect to the applicable Option Field of Use and Optioned Patent; or, (ii) the date of
termination or expiration of the Option with respect to the applicable Option Field of Use and Optioned Patent, and Graphite has not exercised such Option under the terms set forth in Section 4 (Exercise of Option); or, (iii) the
termination of negotiations where Graphite exercised the Option in accordance with Section 4 (Exercise of Option), but negotiations between Stanford and Graphite were terminated without an agreement on the terms of the Amended License Agreement
or New License Agreement being reached. Graphite will provide Stanford within thirty (30) days following the destruction of such Licensed Products with written notice that they have been destroyed. 

  
  

PAGE 13 OF 18 

	16.	 ASSIGNMENT 

  

	16.1	 Graphite may not assign this Agreement except in connection with a permitted assignment of the Existing License
Agreement. Upon a permitted assignment of this Agreement, Graphite will be released of liability under this Agreement and the term “Graphite” in this Agreement refer solely to the applicable assignee. 

 

	17.	 NOTICES 

All notices under this Agreement are deemed fully given when written, addressed, and sent as follows: 

All general notices to Graphite are mailed or emailed to: 

Graphite Bio, Inc. 
 [***] 

with a copy (which shall not constitute notice) to: 

Goodwin Procter, LLP 
 Attn:
Richard Hoffman 
 Email: [***] 

100 Northern Avenue 
 Boston, MA
02210 
 All financial invoices to Graphite (i.e., accounting contact) are e-mailed to: 

Accounts Payable 
 [***] 

All general notices to Stanford are e-mailed or mailed to: 

Office of Technology Licensing 

[***] 
 All payments to Stanford
are mailed to: 
 Stanford University 

Office of Technology Licensing 

[***] 

  
  

PAGE 14 OF 18 

 Either party may change its address with written notice to the other party. 

 

	18.	 MISCELLANEOUS 

 

	18.1	 Waiver. No term of this Agreement can be waived except by the written consent of the party waiving
compliance. 

  

	18.2	 Scope of Agreement. This Agreement constitutes the entire agreement between the parties pertaining to
the subject matter hereof. No representative of Stanford or Graphite has been authorized to make any representation, warranty, or promise not contained herein. 

 

	18.3	 Choice of Law. This Agreement and any dispute arising under it is governed by the laws of the State of
California, United States of America, applicable to agreements negotiated, executed, and performed within California. 

  

	18.4	 Compliance with Laws. Graphite shall comply with all applicable international, national, state, regional
and local laws and regulations in performing its obligations hereunder and in its use or manufacture of the Licensed Products or practice of the Optioned Patent or Optioned Technology. Graphite will observe all applicable United States and foreign
laws with respect to the transfer of Licensed Products and related technical data to foreign countries, including, without limitation, the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations.

  

	18.5	 Exclusive Forum. The state and federal courts having jurisdiction over Stanford, California, United
States of America, provide the exclusive forum for any court action between the parties relating to this Agreement. Graphite submits to the jurisdiction of such courts, and waives any claim that such a court lacks jurisdiction over Graphite or
constitutes an inconvenient or improper forum. 

  

	18.6	 Headings. No headings in this Agreement affect its interpretation. 

 

	18.7	 Electronic Copy. The parties to this document agree that a copy of the original signature (including an
electronic copy) may be used for any and all purposes for which the original signature may have been used. The parties further waive any right to challenge the admissibility or authenticity of this document in a court of law based solely on the
absence of an original signature. 

  
  

PAGE 15 OF 18 

 The parties execute this Agreement by their duly authorized officers or representatives. 

 

			
	THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY
		
	Signature:	 	/s/ Mona Wan
	Name:	 	Mona Wan
	Title:	 	Associate Director
	Date:	 	4/12/2021
	
	GRAPHITE BIO, INC.
		
	Signature:	 	/s/ Josh Lehrer
	Name:	 	Josh Lehrer
	Title:	 	CEO
	Date:	 	4/12/2021

  
  

PAGE 16 OF 18 

 Exhibit A 

Technology: 
 [Intentionally Left Blank] 

  
  

PAGE 17 OF 18 

 Exhibit B – Optioned Patents 

[***] 

  
  

PAGE 18 OF 18EX-10.17

 Exhibit 10.17 

GRAPHITE BIO, INC. 

EXECUTIVE SEVERANCE PLAN 

1. Purpose. Graphite Bio, Inc., a Delaware corporation (the “Company”) considers it essential to the best interests of its
stockholders to foster the continuous employment of key management personnel. The Board of Directors of the Company (the “Board”) recognizes, however, that, as is the case with many publicly-held corporations, the possibility of an
involuntary termination of employment, either before or after a Change in Control (as defined in Section 2 hereof), exists and that such possibility, and the uncertainty and questions that it may raise among management, may result in the
departure or distraction of management personnel to the detriment of the Company and its stockholders. Therefore, the Board has determined that the Graphite Bio, Inc. Executive Severance Plan (the “Plan”) should be adopted to reinforce and
encourage the continued attention and dedication of the Company’s Covered Executives (as defined in Section 2 hereof) to their assigned duties without distraction. Nothing in this Plan shall be construed as creating an express or
implied contract of employment and nothing shall alter the “at will” nature of the Covered Executives’ employment with the Company. 

2. Definitions. The following terms shall be defined as set forth below: 

(a) “Accounting Firm” shall mean a nationally recognized accounting firm selected by the Company. 

(b) “Administrator” means the Board or the Compensation Committee of the Board. 

(c) “Base Salary” shall mean the higher of (i) the annual base salary in effect immediately prior to the Date of
Termination or (ii) the annual base salary in effect for the year immediately prior to the year in which the Date of Termination occurs. 

(d) “Cause” shall mean, and shall be limited to, the occurrence of any one or more of the following events: 

(i) the Covered Executive’s unauthorized use or disclosure of the Company’s confidential information or trade
secrets; 
 (ii) the Covered Executive’s material breach of any agreement between the Covered Executive and the Company;

 (iii) the Covered Executive’s material failure to comply with the Company’s written policies or rules; 

(iv) the Covered Executive’s gross negligence or willful misconduct in connection with the Covered Executive’s
performance of his/her duties to the Company; 

  
 1 

 (v) the Covered Executive’s continuing failure to perform assigned
duties after receiving written notification of the failure from the Company and, if curable, a period of thirty (30) days to cure such failure; 

(vi) the conviction of, indictment for or plea of nolo contendere by the Covered Executive to a felony or a crime involving
moral turpitude; or 
 (vii) the Covered Executive’s failure to cooperate in good faith with a governmental or internal
investigation of the Company or its directors, officers or employees, if the Company has requested the Covered Executive’s cooperation. 

(e) “Change in Control” shall mean a Sale Event, as defined in the Graphite Bio, Inc. 2021 Stock Option and Incentive Plan,
as amended from time to time. 
 (f) “Change in Control Period” shall mean the period beginning on the date of a Change in
Control and ending on the one-year anniversary of the Change in Control. 
 (g)
“Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (h) “Covered Executives” shall mean
Tier 1 Executive and those other employees designated by the Administrator in its sole discretion as the Tier 2 Executives and Tier 3 Executives, and, in each case, who meet the eligibility requirements set forth in Section 4 of the Plan. 

(i) “Date of Termination” shall mean the date that a Covered Executive’s employment with the Company (or any successor)
ends, which date shall be specified in the Notice of Termination. Notwithstanding the foregoing, a Covered Executive’s employment shall not be deemed to have been terminated solely as a result of the Covered Executive becoming an employee of
any direct or indirect successor to the business or assets of the Company. 
 (j) “Disability” shall mean the following: if
through any illness, injury, accident or condition of either a physical or psychological nature, the Covered Executive becomes unable to perform substantially all of his duties and responsibilities for a continuous period of sixteen
(16) consecutive weeks or for any twenty-six (26) weeks within a fifty-two (52) week period.
Determinations as to whether Covered Executive is Disabled shall be made by a physician selected by the Board or its insurers and acceptable to the Covered Executive or the Covered Executive’s legal representative, such agreement as to
acceptability not to be unreasonably withheld or delayed. 
 (k) “Good Reason” shall mean that the Covered Executive has
complied with the “Good Reason Process” following the occurrence of any of the following events: 
 (i) a material
diminution in the Covered Executive’s annual base salary other than across the board decreases in annual base salary similarly affecting all executives of the Company; 

(ii) the Company requiring the Covered Executive to relocate (other than for travel incident to the Covered Executive’s
performance of his or her duties on behalf of the Company), without the Covered Executive’s consent, a distance of more than fifty (50) miles from the Covered Executive’s current principal place of business; or 

(iii) any material diminution in the Covered Executive’s position, responsibilities, authority or duties. 

  
 2 

 For purposes of Section 2(k)(iii), a change in the reporting relationship, or a change in a title will
not, by itself, be sufficient to constitute a material diminution of responsibilities, authority or duty. 
 (l) “Good Reason
Process” shall mean: 
 (i) the Covered Executive reasonably determines in good faith that a “Good Reason”
condition has occurred; 
 (ii) the Covered Executive notifies the Company in writing of the first occurrence of the Good
Reason condition within sixty (60) days of the first occurrence of such condition; 
 (iii) the Covered Executive
cooperates in good faith with the Company’s efforts, for a period of not less than thirty (30) days following such notice (the “Cure Period”), to remedy the condition; 

(iv) notwithstanding such efforts, the Good Reason condition continues to exist following the Cure Period; and 

(v) the Covered Executive terminates his or her employment and provides the Company with a Notice of Termination with respect
to such termination, each within sixty (60) days after the end of the Cure Period. 
 If the Company cures the Good Reason condition
during the Cure Period, Good Reason shall be deemed not to have occurred. 
 (m) “Notice of Termination” shall mean a
written notice which shall indicate the specific termination provision in this Plan relied upon for the termination of a Covered Executive’s employment and the Date of Termination. 

(n) “Participation Agreement” shall mean an agreement between a Covered Executive and the Company that
acknowledges the Covered Executive’s participation in the Plan.  
 (o) “Qualified Termination
Event” shall mean (i) a termination of the Covered Executive’s employment by the Company other than for Cause, death or Disability or (ii) the Covered Executive’s resignation from the Company for Good Reason. 

(p) “Restrictive Covenants Agreement” shall mean the Proprietary Information and Inventions Agreement or similar agreement
entered into between the Covered Executive and the Company. 
 (q) “Tier 1 Executive” shall mean the Company’s Chief
Executive Officer. 

  
 3 

 (r) “Tier 2 Executives” shall mean the individuals designated as such by
the Administrator and who are listed in Exhibit A, attached hereto, as such exhibit is amended by the Administrator from time to time. 

(s) “Tier 3 Executives” shall mean the individuals designated as such by the Administrator and who are listed in Exhibit
B, attached hereto, as such exhibit is amended by the Administrator from time to time. 
 3. Administration of the Plan.  

(a) Administrator. The Plan shall be administered by the Administrator. 

(b) Powers of Administrator. The Administrator shall have all powers necessary to enable it properly to carry out its duties with
respect to the complete control of the administration of the Plan. Not in limitation, but in amplification of the foregoing, the Administrator shall have the power and authority in its discretion to: 

(i) construe the Plan to determine all questions that shall arise as to interpretations of the Plan’s provisions; 

(ii) determine which individuals are and are not Covered Executives, designate an individual as a Tier 2 Executive or Tier 3
Executive, determine the benefits to which any Covered Executives may be entitled, the eligibility requirements for participation in the Plan and all other matters pertaining to the Plan; 

(iii) adopt amendments to the Plan which are deemed necessary or desirable to comply with all applicable laws and regulations,
including but not limited to Code Section 409A and the guidance thereunder; 
 (iv) make all determinations it deems
advisable for the administration of the Plan, including the authority and ability to delegate administrative functions to a third party; 

(v) decide all disputes arising in connection with the Plan; and 

(vi) otherwise supervise the administration of the Plan. 

(c) All decisions and interpretations of the Administrator shall be binding on all persons, including the Company and Covered Executives. 

4. Eligibility. All Covered Executives who have executed and submitted to the Company a Participation Agreement, and satisfied such
other requirements as may be determined by the Administrator, are eligible to participate in the Plan. The Administrator may determine at any time that a Covered Executive should no longer be designated as such as a result of a material change in
such Covered Executive’s role, and such individual shall cease to be eligible to participate in the Plan upon the Administrator taking action by resolution to update the applicable Exhibit hereto. 

  
 4 

 5. Termination Benefits Generally. In the event a Covered Executive’s employment
with the Company is terminated for any reason, the Company shall pay or provide to the Covered Executive any earned but unpaid salary, unpaid expense reimbursements in accordance with Company policy, accrued but unused vacation or leave entitlement,
and any vested benefits the Covered Executive may have under any employee benefit plan of the Company in accordance with the terms and conditions of such employee benefit plan (collectively, the “Accrued Benefits”), within the time
required by law but in no event more than sixty (60) days after the Date of Termination. 
 6. Termination Not in Connection
with a Change in Control. In the event a Qualified Termination Event occurs at any time other than during the Change in Control Period, with respect to such Covered Executive, in addition to the Accrued Benefits, subject to his or her execution
of a separation agreement in a form and manner satisfactory to the Company containing, among other provisions, a general release of claims in favor of the Company and related persons and entities, confidentiality, return of property, non-disparagement and reaffirmation of the Restrictive Covenants Agreement (the “Separation Agreement and Release”) and the Separation Agreement and Release becoming irrevocable, all within the time period
set forth in the Separation Agreement and Release but in no event more than sixty (60) days after the Date of Termination, and subject to the Covered Executive complying with the Separation Agreement and Release, the Company shall: 

(a) pay the Covered Executive an amount equal to twelve (12) months’ Base Salary for the Tier 1 Executive, nine
(9) months’ Base Salary for each Tier 2 Executive and six (6) months’ Base Salary for each Tier 3 Executive; and 
 (b)
if the Covered Executive was participating in the Company’s group health plan immediately prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Covered Executive a monthly cash payment in an
amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the Covered Executive if the Covered Executive had remained employed by the Company, based on the premiums as of the Date of
Termination, until the earlier of (i) twelve (12) months for the Tier 1 Executive, nine (9) months for each Tier 2 Executive and six (6) months for each Tier 3 Executive or (ii) the date of which the Covered Executive obtains
other employment. 
 The amounts payable under Section 6(a) and (b), as applicable, shall be paid out in a substantially equal installments in
accordance with the Company’s payroll practice over twelve (12) months for the Tier 1 Executive, nine (9) months for each Tier 2 Executive and six (6) months for each Tier 3 Executive, commencing within sixty (60) days after
the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the amounts shall be paid in the second calendar year no later than the
last day of such 60-day period; provided further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following
the Date of Termination. Each payment pursuant to this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

  
 5 

 7. Termination in Connection with a Change in Control. In the event a Qualified
Termination Event occurs within the Change in Control Period, then with respect to such Covered Executive, in addition to the Accrued Benefits, subject to his or her execution and non-revocation of the
Separation Agreement and Release, all within the time period set forth in the Separation Agreement and Release, but in no event more than sixty (60) days after the Date of Termination, the Company shall: 

(a) cause 100% of the outstanding and unvested equity awards with time-based vesting held by the Covered Executive to immediately become fully
vested, exercisable or nonforfeitable as of the Date of Termination; provided, that the performance conditions applicable to any outstanding and unvested equity awards subject to performance conditions will be deemed satisfied at the target level
specified in the terms of the applicable award agreement. Notwithstanding the foregoing, in the event of a Change in Control where the parties to such Change in Control do not provide for the
assumption, continuation or substitution of equity awards of the Company, any and all outstanding and unvested equity awards held by the Covered Executive shall be subject to Section 3(d) of the Company’s 2021 Stock Option and Incentive
Plan, as amended from time to time; 
 (b) pay to the Covered Executive an amount equal to the sum of (i) 150% of Base Salary for the Tier 1
Executive, 100% of Base Salary for each Tier 2 Executive and 75% of Base Salary for each Tier 3 Executive, (ii) 150% for the Tier 1 Executive and 100% for each Tier 2 Executive of the Covered Executive’s annual target bonus in effect
immediately prior to the Qualified Termination Event (or the Covered Executive’s target bonus in effect immediately prior to the Change in Control, if higher) and (iii) the Covered Executive’s annual target bonus in effect immediately
prior to the Qualified Termination Event (or the Covered Executive’s target bonus in effect immediately prior to the Change in Control, if higher), pro-rated for the number of days of service provided by
the Covered Executive during the year of the Date of Termination; and 
 (c) if the Covered Executive was participating in the
Company’s group health plan immediately prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Covered Executive a lump sum cash payment in an amount equal to the monthly employer contribution
that the Company would have made to provide health insurance to the Covered Executive if the Covered Executive had remained employed by the Company for eighteen (18) months for the Tier 1 Executive, twelve (12) months for each Tier 2
Executive, and nine (9) months for each Tier 3 Executive, after the Date of Termination, based on the premiums as of the Date of Termination. 
 The
amounts payable under Section 7(b) and (c), as applicable, shall be paid out in a lump sum within sixty (60) days after the Date of Termination; provided, however, that if the 60-day period begins in
one calendar year and ends in a second calendar year, the amounts shall be paid in the second calendar year no later than the last day of the 60-day period. For the avoidance of doubt, the severance pay and
benefits provided in this Section 7 shall apply in lieu of, and expressly supersede, the provisions of Section 6 and no Covered Executive shall be entitled to the severance pay and benefits under both Section 6 and 7 hereof. 

8. Additional Limitation. 

  
 6 

 (a) Anything in this Plan to the contrary notwithstanding, in the event that the amount of
any compensation, payment or distribution by the Company to or for the benefit of the Covered Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Plan or otherwise, calculated in a manner consistent with
Section 280G of the Code and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below
zero) so that the sum of all of the Aggregate Payments shall be $1.00 less than the amount at which the Covered Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it
would result in the Covered Executive receiving a higher After Tax Amount (as defined below) than the Covered Executive would receive if the Aggregate Payments were not subject to such reduction. In the event of such reduction, the Aggregate
Payments shall be reduced in the following order, in each case, in reverse chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G
of the Code: (i) cash payments not subject to Section 409A of the Code; (ii) cash payments subject to Section 409A of the Code; (iii) equity-based payments and acceleration; and
(iv) non-cash forms of benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under Treas. Reg.
§1.280G-1, Q&A-24(b) or (c). 
 (b) For purposes of
this Section 8, the “After Tax Amount” means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Covered Executive as a result of the Covered Executive’s
receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the Covered Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar
year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes (if any) which could be
obtained from deduction of such state and local taxes. 
 (c) The determination as to whether a reduction in the Aggregate Payments shall be
made pursuant to Section 8(a) shall be made by the Accounting Firm, which shall provide detailed supporting calculations both to the Company and the Covered Executive within fifteen (15) business days of the Date of Termination, if
applicable, or at such earlier time as is reasonably requested by the Company or the Covered Executive. Any determination by the Accounting Firm shall be binding upon the Company and the Covered Executive. 

9. Restrictive Covenants Agreement. 
 As
a condition to participating in the Plan, each Covered Executive shall continue to comply with the terms and conditions contained in the Restrictive Covenants Agreements or similar agreement entered into between the Covered Executive and the Company
and such other agreement(s) as designated in the applicable Participation Agreement. If a Covered Executive has not entered into a Restrictive Covenants Agreement or similar agreement with the Company, he or she shall enter into such agreement prior
to participating in the Plan.  

  
 7 

 10. Withholding. All payments made by the Company under this Plan shall be subject to
any tax or other amounts required to be withheld by the Company under applicable law. 
 11. Section 409A. 

(a) Anything in this Plan to the contrary notwithstanding, if at the time of the Covered Executive’s “separation from service”
within the meaning of Section 409A of the Code, the Company determines that the Covered Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit
that the Covered Executive becomes entitled to under this Plan would be considered deferred compensation subject to the twenty (20) percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of
Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (i) six (6) months and one (1) day after the Covered Executive’s separation from
service, or (ii) the Covered Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that
would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. 

(b) The parties intend that this Plan will be administered in accordance with Section 409A of the Code and that all amounts payable
hereunder shall be exempt from the requirements of such section as a result of being “short term deferrals” for purposes of Section 409A of the Code to the greatest extent possible. To the extent that any provision of this Plan is not
exempt from Section 409A of the Code and ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner to comply with Section 409A of the Code. Each payment pursuant to this Plan is
intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The parties agree that this Plan may be amended, as reasonably requested by either party, and as may
be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 

(c) To the extent that any payment or benefit described in this Plan constitutes “non-qualified
deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Covered Executive’s termination of employment, then such payments or benefits shall be payable only upon the
Covered Executive’s “separation from service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 
 (d) All in-kind benefits provided and
expenses eligible for reimbursement under this Plan shall be provided by the Company or incurred by the Covered Executive during the time periods set forth in this Plan. All reimbursements shall be paid as soon as administratively practicable, but
in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses
incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other aggregate limitation
applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

  
 8 

 (e) The Company makes no representation or warranty and shall have no liability to the
Covered Executive or any other person if any provisions of this Plan are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

12. Notice and Date of Termination.  

(a) Notice of Termination. A termination of the Covered Executive’s employment shall be communicated by Notice of Termination from
the Company to the Covered Executive or vice versa in accordance with this Section 12. 
 (b) Notice to the Company. Any
notices, requests, demands, and other communications provided for by this Plan shall be sufficient if in writing and delivered in person or sent by registered or certified mail, postage prepaid, to a Covered Executive at the last address the Covered
Executive has filed in writing with the Company, or to the Company at the following physical or email address: 
 Graphite Bio, Inc. 

Attention: SVP, People 
 279 E.
Grand Ave., Suite 430 
 South San Francisco, CA 94080 

Email: jtran@graphitebio.com 

13. No Mitigation. The Covered Executive is not required to seek other employment or to attempt in any way to reduce any amounts
payable to the Covered Executive by the Company under this Plan. 
 14. Benefits and Burdens. This Plan shall inure to the benefit of
and be binding upon the Company and the Covered Executives, their respective successors, executors, administrators, heirs and permitted assigns. In the event of a Covered Executive’s death after a termination of employment but prior to the
completion by the Company of all payments due to him or her under this Plan, the Company shall continue such payments to the Covered Executive’s beneficiary designated in writing to the Company prior to his or her death (or to his or her
estate, if the Covered Executive fails to make such designation). 
 15. Enforceability. If any portion or provision of this Plan
shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Plan, 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 Plan shall be valid and enforceable to the fullest extent permitted by law. 

  
 9 

 16. Waiver. No waiver of any provision hereof 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 Plan, or the waiver by any party of any breach of this Plan, shall not prevent any subsequent enforcement of such term or
obligation or be deemed a waiver of any subsequent breach. 
 17. Non-Duplication of Benefits and
Effect on Other Plans. Notwithstanding any other provision in the Plan to the contrary, the benefits provided hereunder shall be in lieu of any other severance payments and/or benefits provided by the Company, including any such payments and/or
benefits pursuant to an employment agreement or offer letter between the Company and the Covered Executive, other than as provided in Section 3(d) of the Company’s 2021 Stock Option and Incentive Plan, as amended from time to time. 

18. No Contract of Employment. Nothing in this Plan shall be construed as giving any Covered Executive any right to be retained in the
employ of the Company or shall affect the terms and conditions of a Covered Executive’s employment with the Company. 
 19.
Amendment or Termination of Plan. The Company may amend or terminate this Plan at any time or from time to time, but no such action shall adversely affect the rights of any Covered Executive without the Covered Executive’s written
consent. 
 20. Governing Law. This Plan shall be construed under and be governed in all respects by the laws of the State of
Delaware, without giving effect to the conflict of laws principles. 
 21. Obligations of Successors(c) . In addition to any
obligations imposed by law upon any successor to the Company, any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company shall expressly assume and
agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. 

22. Effectiveness and Term. The Executive Severance Plan is effective as of the date on which the Company’s registration statement
on Form S-1 for its initial public offering is declared effective. 

  
 10 

 Exhibit A 

Tier 2 Executives 
  

			
	 Individual
	  	 Title

		  	
	  
	  	  

		  	
	  
	  	  

		  	
	  
	  	  

		  	
	  
	  	  

		  	
	  
	  	  

  
 11 

 Exhibit B 

Tier 3 Executives 
  

			
	 Individual
	  	 Title

		  	
	  
	  	  

		  	
	  
	  	  

		  	
	  
	  	  

		  	
	  
	  	  

		  	

  
 12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]