Document:

EX-10.11

 Exhibit 10.11 

 
 

 
  
 May 21, 2022 

Thorsten Graef, MD 
 Private &
Confidential 
  

	Re:	 Employment Offer Letter 

Dear Thorsten, 
 On behalf of Artiva Biotherapeutics, Inc. (the
“Company”), I am pleased to offer you employment under the terms set forth in this offer letter agreement (this “Agreement”). These employment terms are contingent upon reference check and Board approval, and will
be effective as of your start date, which will be on or before June 6, 2022 (the “Start Date”). This offer will become void if not accepted by May 24, 2022. 

1. Employment Position; Duties. You will be employed as the Company’s Chief Medical Officer (“CMO”). AS CMO, you
will have those duties and responsibilities as are customary for this position and as may be directed by the Company. Your position will be remote, and you will work from your home office. During your employment, you will devote your full-time best
efforts to the business of the Company. 
 2. Base Salary; Employee Benefits and Business Expenses. 

(a) Base Salary. Your base salary will be paid at the annual rate of $460,000.00, less standard payroll deductions and tax withholdings.
Your base salary will be paid on the Company’s normal payroll schedule. As an exempt salaried employee, you will be required to work the Company’s normal business hours, and such additional time as appropriate for your work assignments and
position. You will not be eligible for extra payment under the overtime laws. 
 (b) Employee Benefits. Effective the first day of the
month following your Start Date, you will be eligible to participate in the Company’s benefit program. The current benefit program includes medical, dental and vision coverage. You may also elect to participate in the Company’s 401K plan.
The Company does not contribute currently to the 401k plan. You will also be eligible to accrue Paid Time Off (PTO) at a rate of 9 hours per pay period, or a total of 216 hours annually. Details of the PTO policy and other benefits are provided in
the Company’s Employee Handbook. 
 (c) Business Expenses. Your legitimate and documented business expenses will be reimbursed by
the Company as provided under its business expense reimbursement policies. Your reimbursable business expenses will include reasonable costs of travel from your home office to and from San Diego as required for your role and as agreed upon between
yourself and the Company. 

  

			
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 (d) Relocation. You will initially work from your home office. In the event that you
and the Company mutually agree that you will relocate to San Diego at a later date, the Company will provide you with a relocation package to assist with your relocation. The amount and terms of the relocation package will be consistent with the
Company’s standard relocation packages in effect at the time of your relocation. 
 3. Annual Bonus. In addition to base salary,
you will be eligible to earn discretionary incentive compensation at an annual target amount of forty percent (40%) of your base salary in effect during the bonus year. With respect to the annual incentive compensation program, the Company’s
executive team will evaluate and recommend specific annual corporate and/or individual performance targets, metrics and/or management-by-objectives
(“MBOs”), to be finalized and approved by the Company’s Board of Directors (the “Board”), as part of its annual compensation review process. Annual bonuses are paid on an annual basis, after the close of the
fiscal year and after determination by the Board of (a) the level of achievement of the applicable individual and corporate performance targets, metrics and/or MBOs, and (b) the amount of the annual incentive compensation earned by you (if
any). No amount of annual incentive compensation is guaranteed and, in addition to the other conditions for earning such compensation, you must remain an employee of the Company in good standing on the scheduled annual incentive compensation payment
date in order to earn or be eligible for any annual incentive compensation. Except as expressly provided in this Agreement or communicated to you in writing by a duly authorized officer of the Company, you will not be entitled to any other incentive
compensation, commission, or other bonus programs. 
 4. Signing Bonus. If you accept and commence employment with the Company, the
Company will provide you with a signing bonus of $50,000 (the “Signing Bonus”). The Signing Bonus will be paid on the second paycheck following the Start Date, and will be subject to the usual payroll deductions and tax
withholdings. The Signing Bonus is subject to the following Repayment Obligations: (i) if you voluntarily resign other than for Good Reason (as defined in the Plan), or are dismissed “for Cause,” prior to the twelve-month anniversary
of your Start Date, you will be obligated to repay a pro-rated amount based on the length of your service with the Company. Such repayment shall be made within 30 days following your employment termination or
resignation date, as applicable. 
 5. Equity Award: Upon joining the Company, and subject to approval by the Company’s Board of
Directors, you will be eligible to receive a stock option grant to purchase 415,000 shares of the Company’s common stock (the “Options”), pursuant to the Company’s 2020 Equity Incentive Plan (the “Plan”).
The purchase price per share of the Options will be equal to the fair market value of the Company’s common stock on the date of grant. Twenty-five percent (25%) of the Options will vest on the one-year
anniversary of your Start Date and the remainder will vest in equal monthly installments thereafter over the next thirty-six (36) months, subject to your Continued Service (as defined in the Plan) with
the Company through each such vesting date. The terms of the Options will be governed by the Plan and the applicable option award agreement between you and the Company. 

6. Compliance with Confidentiality Agreement and Company Policies. As a condition of employment, you shall sign and comply with the
Company’s standard form of Employee Confidential Information and Invention Assignment Agreement (the “Confidentiality Agreement”). The Confidentiality Agreement shall be deemed fully incorporated into this Agreement by
reference. 

  

			
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 7. COVID-19 Vaccination. The Company requires
COVID-19 vaccinations as a condition of employment. If you have any questions about COVID-19 vaccinations, you should consult a trusted healthcare provider. Unless an
exemption applies, the Company requires that all employees be fully vaccinated before their Start Date. An employee is considered “fully vaccinated” if at least 14 days or a period specified by the vaccine’s manufacturer have elapsed
since the employee received the last dose of a vaccine that the FDA has authorized for use in the United States. FDA-authorized vaccinations include vaccinations that have been authorized pursuant to an
Emergency Use Authorization. For an employee fully vaccinated outside of the United States, the vaccination must be listed for emergency use by the World Health Organization (“WHO”). 

To establish that you are fully vaccinated, we require that you provide evidence of immunization by presenting a completed
COVID-19 Vaccine Card or documentation from an authorized healthcare provider or pharmacy proving that you have received the COVID-19 vaccine. Please submit these
documents to Brandon Saunders at bsaunders@artivabio.com or via the Company’s HR portal. The Company must receive this documentation prior to your projected Start Date. 

Employees who have i) a qualifying medical condition that contraindicates the vaccination, or ii) who object to being vaccinated on the basis of a sincerely
held religious belief or practice, may contact Jennifer Bush at jbush@artivabio.com. The Company regards all such information as confidential. 

8. Protection of Third-Party Information and Outside Activities. 

(a) Third Party Information. In your work for the Company, you will be expected not to make any unauthorized use or disclosure of any
confidential information or materials, including trade secrets, of any former employer or other third party; and not to violate any lawful agreement that you may have with any third party. By signing this Agreement, you represent that you are able
to perform your job duties within these guidelines, and you are not in unauthorized possession or control of any confidential documents, information, or other property of any former employer. In addition, you represent that you have disclosed to the
Company in writing any agreement you may have with any third party (e.g., a former employer) that may limit your ability to perform your duties to the Company or that could present a conflict of interest with the Company, including but not limited
to disclosure (and a copy) of any contractual restrictions on solicitations or competitive activities. 
 (b) Outside Activities.
During your employment by the Company, you may engage in civic and not-for-profit activities so long as such activities do not interfere with the performance of your
duties hereunder or present a conflict of interest with the Company or its affiliates. You also may perform consulting services for third parties for up to four (4) hours per month, with each consulting engagement to be approved in writing by
the Company’s Chief Executive Officer, and so long as the engagement would not present a conflict of interest with the Company or its affiliates or involve providing services to a competitor (in which case the engagement would need to be
reviewed and approved by the Board as set forth in 8(c)). The Chief Executive Officer or Board may withdraw such consent, if they determine, in their sole discretion, that such activities compromise or threaten to compromise the business interests
of the Company or its affiliates or conflict with your duties to the Company. 

  

			
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 (c) Non-Competition. During your employment
by the Company, you will not, without the express written consent of the Board, directly or indirectly serve as an officer, director, stockholder, employee, partner, proprietor, investor, joint venturer, associate, representative or consultant of
any person or entity engaged in, or planning or preparing to engage in, business activity competitive with any line of business engaged in (or planned to be engaged in) by the Company or its affiliates; provided, however, that you may purchase or
otherwise acquire up to (but not more than) one percent (1%) of any class of securities of any enterprise (without participating in the activities of such enterprise) if such securities are listed on any national or regional securities exchange. In
addition, you will be subject to certain restrictions (including restrictions continuing after your employment ends) under the terms of your Confidentiality Agreement. 

9. At-Will Employment Relationship. Your employment relationship with the Company is employment
at-will. Accordingly, you may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company; and the Company may terminate your employment at any time
with or without Cause (as defined below) or prior notice. In addition, the Company retains the discretion to modify your other employment terms from time to time, including but not limited to your position, duties, reporting relationship, work
location, compensation (including base salary and incentive compensation terms), and benefits. 
 10. Severance. 

(a) Pre-IPO Severance for Qualifying Termination. If (i) your employment is terminated by
the Company without Cause (as defined in the Plan, or any successor or replacement plan), other than due to your death or disability, and (ii) you satisfy the Release Requirement (defined below), then you will receive severance pay in the form
of continuation of your final monthly base salary for six (6) months, plus six (6) months of benefits coverage under COBRA, less standard payroll deductions and tax withholdings. 

(b) Post-IPO Severance upon Termination without Cause or Resignation with Good Reason. If
(i) your employment is terminated by the Company without Cause (as defined in the Plan), other than due to your death or disability, or you terminate your employment with Good Reason (as defined in the Plan), (ii) you satisfy the Release
Requirement (defined below), and (iii) comply with your obligations under the Confidentiality Agreement, then you will receive the following “Severance Benefits”: (A) You will receive severance pay in the form of continuation of your
final monthly base salary for a period of nine (9) months following your termination date, less standard payroll deductions and tax withholdings (the “Severance Payments”). Subject to Section 10(e), the Severance Payments will be
paid in equal installments on the Company’s regular payroll schedule in effect following your termination date, with such payments to begin on the first regular payroll date following the Release Effective Date (as defined below). If the
Severance Payments do not commence with the first regular payroll date following your termination date because the Release Effective Date is later than such first payroll date, the first installment of the Severance Payments you receive will be a
“catch up” payment in the total amount of the Severance Payments you would have received through such payroll date if such payments had begun with the first payroll date after your termination date; (B) In addition, if you timely
elect continued coverage under COBRA, the Company will pay the COBRA premiums for you and your eligible dependents until the earlier of either: (i) a period ending nine (9) months following your termination date or, (ii) the date on
which you are no longer eligible for COBRA coverage (such period, the “COBRA Payment Period”). Notwithstanding the foregoing, if the Company determines, in its sole discretion, that the Company cannot provide the COBRA premium benefits
without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the 

  

			
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Company shall in lieu thereof pay you a taxable cash amount, which payment shall be made regardless of whether you or your qualifying family members elect COBRA continuation coverage (the
“Health Care Benefit Payment”). The Health Care Benefit Payment shall be paid in installments on the same schedule that the COBRA premiums would otherwise have been paid to the insurer. The Health Care Benefit Payment shall be equal to the
amount that the Company otherwise would have paid for COBRA insurance premiums (which amount shall be calculated based on the premium for the first month of coverage), and shall be paid until the expiration of the COBRA Payment Period. For purposes
of this Agreement, (i) references to COBRA shall be deemed to refer also to analogous provisions of state law and (ii) any applicable insurance premiums that are paid by the Company shall not include any amounts payable by you under an
Internal Revenue Code Section 125 health care reimbursement plan, which amounts, if any, are your sole responsibility; and (C) The vesting and exercisability of all outstanding and unvested equity awards covering the Company’s common
stock that are held by you as of immediately prior to the termination date, to the extent such equity awards would otherwise have vested solely conditioned on your continued services with the Company, shall accelerate vesting in accordance with
their applicable vesting schedules as if you had completed an additional three (3) months of service with the Company as of the termination date. 

(c) Post-IPO Severance upon Termination without Cause or Resignation with Good Reason in Connection
with a Change of Control. If (i) your employment is terminated by the Company without Cause (as defined in the Plan), other than due to your death or disability, or you terminate your employment with Good Reason (as defined in the Plan), in
each case within a period commencing three (3) months before, or twelve (12) months after a Change of Control (as defined in the Plan), (ii) you satisfy the Release Requirement (defined below), and (iii) comply with your obligations
under the Confidentiality Agreement, then you will receive the following “Change of Control Severance Benefits”: (A) You will receive severance pay in the form of continuation of your final monthly base salary for a period of twelve
(12) months following your termination date, less standard payroll deductions and tax withholdings (the “Change of Control Severance Payments”). Subject to Section 10(e), the Severance Payments will be paid in equal installments
on the Company’s regular payroll schedule in effect following your termination date, with such payments to begin on the first regular payroll date following the Release Effective Date (as defined below). If the Severance Payments do not
commence with the first regular payroll date following your termination date because the Release Effective Date is later than such first payroll date, the first installment of the Severance Payments you receive will be a “catch up” payment
in the total amount of the Severance Payments you would have received through such payroll date if such payments had begun with the first payroll date after your termination date; (B) In addition, if you timely elect continued coverage under
COBRA, the Company will pay the COBRA premiums for you and your eligible dependents until the earlier of either: (i) a period ending twelve (12) months following your termination date or, (ii) the date on which you are no longer
eligible for COBRA coverage (such period, the “COBRA Payment Period”). Notwithstanding the foregoing, if the Company determines, in its sole discretion, that the Company cannot provide the COBRA premium benefits without potentially
incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu thereof pay you a taxable cash amount, which payment shall be made regardless
of whether you or your qualifying family members elect COBRA continuation coverage (the “Health Care Benefit Payment”). The Health Care Benefit Payment shall be paid in installments on the same schedule that the COBRA premiums would
otherwise have been paid to the insurer. The Health Care Benefit Payment shall be equal to the amount that the Company otherwise would have paid for COBRA insurance premiums (which amount shall be calculated based on the premium for the first month
of coverage), and shall be paid until the expiration of the COBRA Payment Period. For purposes of this Agreement, (i) references to COBRA shall be deemed to refer also to analogous provisions of state law

  

			
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and (ii) any applicable insurance premiums that are paid by the Company shall not include any amounts payable by you under an Internal Revenue Code Section 125 health care reimbursement
plan, which amounts, if any, are your sole responsibility; (C) In addition, you will receive your full target Annual Bonus for the fiscal year in which your employment terminates, payable on the first regular payroll date following the Release
Effective Date, provided that the Release Requirement has been satisfied; and (D) Effective as of the later of the termination date or the effective date of the Change of Control, the vesting and exercisability of all outstanding and unvested
equity awards covering the Company’s common stock that are held by you as of immediately prior to such date, to the extent such equity awards would otherwise have vested solely conditioned on your continued services with the Company, shall
accelerate vesting in full. For the avoidance of doubt, in no event shall you be entitled to benefits under both Section 10(b) and this Section 10(c). If you are eligible for benefits under both Section 10(b) and this
Section 10(c), you shall receive the benefits set forth in this Section 10(c) and such benefits shall be reduced by any benefits previously provided to you under Section 10(b). 

(d) Release Requirement. To be eligible for the Severance Benefits pursuant to Section 10(a)-(b) and the Change of Control
Severance Benefits pursuant to Section 10(c) above, you must satisfy the following release requirement (the “Release Requirement”): You must timely execute and return to the Company a signed and dated general release of all known and
unknown claims in a separation agreement acceptable to the Company (the “Release and Waiver”) within the applicable deadline set forth therein, but in no event later than forty-five (45) calendar days following your termination date,
and permit the Release and Waiver to become effective and irrevocable in accordance with its terms (such effective date of the Release and Waiver, the “Release Effective Date”). No Severance Benefits or Change of Control Severance Benefits
will be paid or provided hereunder prior to such Release Effective Date. You may be required by the separation agreement to provide reasonable transitional services as a condition to receiving the Severance Benefits and/or the Change of Control
Severance Benefits. 
 (e) Other. You will not be eligible for any Severance Benefits or Change of Control Severance Benefits under
any circumstances other than those described herein, including circumstances in which your employment is terminated for Cause, you terminate your employment for any reason other than Good Reason, or your employment terminates due to your death or
disability. In addition, if you materially breach any continuing obligations to the Company (including, but not limited to, any material breach of this Agreement or any material breach of the Confidentiality Agreement) during the period of time that
you are receiving any Severance Benefits or Change of Control Severance Benefits, as applicable, you will forfeit your entitlement to any then unpaid Severance Benefits and/or Change of Control Severance Benefits, as applicable, and the
Company’s obligation to continue to pay or provide such Severance Benefits and Change of Control Severance Benefits will immediately terminate as of the date of your material breach and you will be required to return to the Company any
Severance Benefits and Change of Control Severance Benefits already provided to you. 
 (f) IRS Code Section 409A. All payments
provided hereunder are intended to constitute separate payments for purposes of Treasury Regulation Section 1.409A-2(b)(2). If the Company determines that any benefits provided under this Agreement
constitute “deferred compensation” under Section 409A of the Internal Revenue Code of 1986 as amended (“Section 409A”), such benefits will not commence in connection with your termination of employment unless such
termination also qualifies as a “separation from service” with the Company within the meaning of Treasury Regulation Section 1.409A-1(h) (without regard to any permissible alternative definition thereunder) (“Separation from
Service”). If the Company determines that any benefits provided under this Agreement constitute “deferred 

  

			
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compensation” under Section 409A and you are a “specified employee” of the Company or any affiliate (or any successor entity thereto) within the meaning of
Section 409A(a)(2)(B)(i) of the Code on the date of your Separation from Service, then the payment of any such benefits shall be delayed until the earlier of (i) the date that is six (6) months and one (1) day after the date of
your Separation from Service, or (ii) the date of your death (such date, the “Delayed Payment Date”), and the Company (or the successor entity thereto, as applicable) shall (A) pay to you a lump sum amount equal to the sum of the
benefit payments that otherwise would have been paid to you on or before the Delayed Payment Date, without any adjustment on account of such delay, and (B) continue the benefit payments in accordance with any applicable payment schedules set
forth for the balance of the period specified herein. In addition to the above, to the extent required to comply with Section 409A and the applicable regulations and guidance issued thereunder, if the applicable deadline for you to execute (and
not revoke) the applicable Release and Waiver spans two (2) calendar years, your Severance Benefits and/or Change of Control Severance Benefits shall commence to be paid in installments on the first regularly scheduled payroll date that follows
the effective date of the Release and Waiver and which also occurs during the second permitted calendar year for returning the effective Release and Waiver. 

11. Section 280G; Limitations on Payment. 

(a) If any payment or benefit you will or may receive from the Company or otherwise (a “280G Payment”) would
(i) any constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
Tax”), then any such 280G Payment provided pursuant to this Agreement (a “Payment”) shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment
that would result in no portion of the Payment (after reduction) being subject to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount determined by clause (x) or by
clause (y)), after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in your receipt, on an
after-tax basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in a Payment is required pursuant to the preceding
sentence and the Reduced Amount is determined pursuant to clause (x) of the preceding sentence, the reduction shall occur in the manner (the “Reduction Method”) that results in the greatest economic benefit for you. If more
than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata (the “Pro Rata Reduction Method”). 

(b) Notwithstanding any provision of Section 12(a) to the contrary, if the Reduction Method or the Pro Rata Reduction Method would
result in any portion of the Payment being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes pursuant to Section 409A, then the Reduction Method and/or the Pro Rata Reduction Method, as the case may be,
shall be modified so as to avoid the imposition of taxes pursuant to Section 409A as follows: (i) as a first priority, the modification shall preserve to the greatest extent possible, the greatest economic benefit for you as determined on
an after-tax basis; (ii) as a second priority, Payments that are contingent on future events (e.g., being terminated without Cause), shall be reduced (or eliminated) before Payments that are not
contingent on future events; and (iii) as a third priority, Payments that are “deferred compensation” within the meaning of Section 409A shall be reduced (or eliminated) before Payments that are not deferred compensation within
the meaning of Section 409A. 

  

			
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 (c) Unless you and the Company agree on an alternative accounting firm or law firm,
the accounting firm engaged by the Company for general tax compliance purposes as of the day prior to the effective date of the Change of Control transaction shall perform the foregoing calculations. If the accounting firm so engaged by the Company
is serving as accountant or auditor for the individual, entity or group effecting the Change in Control transaction, the Company shall appoint a nationally recognized accounting or law firm to make the determinations required by this Section 9.
The Company shall bear all expenses with respect to the determinations by such accounting or law firm required to be made hereunder. The Company shall use commercially reasonable efforts to cause the accounting or law firm engaged to make the
determinations hereunder to provide its calculations, together with detailed supporting documentation, to you and the Company within fifteen (15) calendar days after the date on which your right to a 280G Payment becomes reasonably likely to
occur (if requested at that time by you or the Company) or such other time as requested by you or the Company. 
 (d) If you receive
a Payment for which the Reduced Amount was determined pursuant to clause (x) of Section 12(a) and the Internal Revenue Service determines thereafter that some portion of the Payment is subject to the Excise Tax, you agree to promptly
return to the Company a sufficient amount of the Payment (after reduction pursuant to clause (x) of Section 12(a) so that no portion of the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount
was determined pursuant to clause (y) of Section 12(a), you shall have no obligation to return any portion of the Payment pursuant to the preceding sentence. 

12. Dispute Resolution. To ensure the rapid and economical resolution of disputes that may arise in connection with your employment
with the Company, you and the Company agree that any and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach, performance, or interpretation
of this Agreement, your employment with the Company, or the termination of your employment with the Company, will be resolved pursuant to the Federal Arbitration Act, 9 U.S.C. §1-16, and to the fullest
extent permitted by law, by final, binding and confidential arbitration conducted by JAMS, Inc. (“JAMS”) or its successors by a single arbitrator. The arbitration will be held in San Diego, California, or such other location as
then-agreed by the parties. Both you and the Company acknowledge that by agreeing to this arbitration procedure, you each waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding. 

Any such arbitration proceeding will be governed by JAMS’ then applicable rules and procedures for employment disputes, which will be provided to you
upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration/. In any such proceeding, the arbitrator shall (a) have the authority to compel adequate discovery for the resolution of the dispute and to
award such relief as would otherwise be permitted by law; and (b) issue a written arbitration decision including the arbitrator’s essential findings and conclusions and a statement of the award. You and the Company shall be entitled to all
rights and remedies that would be entitled to pursue in a court of law. Nothing in this Agreement is intended to prevent either the Company or you from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any
such arbitration pursuant to applicable law. You and the Company both have the right to be represented by legal counsel at any arbitration proceeding, at each party’s own expense. The Company shall pay all filing fees in excess of those which
would be required if the dispute were decided in a court of law and shall pay the arbitrator’s fees and any other fees or costs unique to arbitration. Any awards or orders in such arbitrations may be entered and enforced as judgments in the
federal and state courts of any competent jurisdiction. 

  

			
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 13. General. This Agreement, along with the Confidentiality Agreement, forms the
complete and exclusive statement of your agreement with the Company regarding the subject matter hereof. It supersedes and replaces any other agreements or promises made to you by anyone concerning your employment compensation, benefits and/or
terms, whether oral or written. This Agreement may not be amended or modified except by a written modification signed by you and a duly authorized officer of the Company, with the exception of those changes expressly reserved to the Company’s
discretion in this Agreement. This Agreement is governed by the laws of the state of California, without reference to conflicts of law principles, and it is intended to bind and inure to the benefit of and be enforceable by the Company and its
successors and assigns. If any provision of this Agreement shall be held invalid or unenforceable in any respect, such invalidity or unenforceability shall not affect the other provisions of this Agreement, and such provision will be reformed,
construed and enforced so as to render it valid and enforceable consistent with the general intent of the parties insofar as possible under applicable law. With respect to the enforcement of this Agreement, no waiver of any right hereunder shall be
effective unless it is in writing. Any ambiguity in this Agreement shall not be construed against either party as the drafter. This Agreement may be executed in counterparts which shall be deemed to be part of one original, and facsimile signatures
shall be equivalent to original signatures. 
 This offer is subject to satisfactory proof of your identity and right to work in the United States and other
applicable pre-employment screenings. 
 To confirm your terms of employment, please sign and date this Agreement
and the Confidentiality Agreement and return the fully signed documents to Jennifer Bush at jbush@artivabio.com. Please let me know if you have any questions. 

Sincerely, 
 ARTIVA
BIOTHERAPEUTICS, INC. 
  

			
	By:	 	 /s/ Fred Aslan

	Fred Aslan, MD
	Chief Executive Officer & President

 Reviewed, Understood, and Accepted: 
  

					
	 /s/ Thorsten Graef
	 		 	 5/21/2022

	Thorsten Graef, MD	 		 	Date

  
  

  

			
	Artiva Biotherapeutics, Inc. | 4747 Executive Drive, Suite 1150, San Diego CA	  	// 9EX-10.34

 Exhibit 10.34 

FIRST AMENDMENT TO LICENSE AGREEMENT 

THIS FIRST AMENDMENT TO LICENSE AGREEMENT (this “First Amendment”) is made as of May 9, 2022, by and between ARE-SD REGION NO. 37, LLC, a Delaware limited liability company (“Licensor”), and ARTIVA BIOTHERAPEUTICS, INC., a Delaware corporation (“Licensee”). 

RECITALS 
 A.
Licensor and Licensee are now parties to that certain License Agreement dated as of June 16, 2021 (the “License Agreement”). Pursuant to the License Agreement, Licensee has a temporary license to use that certain premises containing
approximately 11,960 rentable square feet of space (the “Licensed Premises”) which consists of the entire building located at 4025 Sorrento Valley Road, San Diego, California (the “Building”). The Licensed Premises
are more particularly described in the License Agreement. Capitalized terms used herein without definition shall have the meanings defined for such terms in the License Agreement. 

B. Licensor and Licensee desire, subject to the terms and conditions set forth below, to amend the License Agreement as set forth
herein. 
 NOW, THEREFORE, in consideration of the foregoing Recitals, which are incorporated herein by this reference, the mutual
promises and conditions contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Licensor and Licensee hereby agree as follows: 

 

	1.	 Term. The first paragraph of Section 1 of the License Agreement is hereby
deleted in its entirety and replaced with the following: 

 “Licensor hereby grants to Licensee a license to enter
into and use the Licensed Premises for the use described below commencing on the date that is 1 business day after the mutual execution and delivery of this Agreement by the parties (the “License Commencement Date”). Licensor shall
deliver the Licensed Premises to Licensee on the License Commencement Date. The term (the “Term”) of the license granted pursuant to this Section 1 shall expire on the earlier of (a) the date that is 30 days after
the Commencement Date (as defined in the Morehouse Lease) of the Morehouse Lease, or (b) the termination of this Agreement for Cause (as defined in Section 7); provided, however, that if the Morehouse Lease terminates such that the
Commencement Date (as defined in the Morehouse Lease) of the Morehouse Lease never occurs, then this Agreement shall terminate on June 20, 2022.” 
  

	2.	 Brokers. Licensor and Licensee each represents and warrants that it has not dealt with any
broker, agent or other person (collectively, “Broker”) in connection with the transaction reflected in this First Amendment and that no Broker brought about this transaction. Licensor and Licensee each hereby agrees to indemnify and
hold the other harmless from and against any claims by any Broker claiming a commission or other form of compensation by virtue of having dealt with Licensee or Licensor, as applicable, with regard to this leasing transaction. 

 

	3.	 OFAC. Licensee and all beneficial owners of Licensee are currently (a) in compliance
with and shall at all times during the Term of the License Agreement remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or
regulation relating thereto (collectively, the “OFAC Rules”), (b) not listed on, and shall not during the term of the License Agreement be listed on, the Specially Designated Nationals and Blocked Persons List, Foreign Sanctions
Evaders List or the Sectoral Sanctions Identifications List, which are all maintained by OFAC and/or on any other similar list maintained by OFAC or other governmental authority pursuant to any authorizing statute, executive order, or regulation,
and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules.  

	4.	 Miscellaneous. 

a. This First Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
and contemporaneous oral and written agreements and discussions. This First Amendment may be amended only by an agreement in writing, signed by the parties hereto. 

b. This First Amendment is binding upon and shall inure to the benefit of the parties hereto, and their respective successors and
assigns. 
 c. This First Amendment may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature process complying with the U.S. federal ESIGN Act of 2000) or other
transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. Electronic signatures shall be deemed original signatures for purposes of this First Amendment
and all matters related thereto, with such electronic signatures having the same legal effect as original signatures. 
 d. Except as
amended and/or modified by this First Amendment, the License Agreement is hereby ratified and confirmed and all other terms of the License Agreement shall remain in full force and effect, unaltered and unchanged by this First Amendment. In the event
of any conflict between the provisions of this First Amendment and the provisions of the License Agreement, the provisions of this First Amendment shall prevail. Whether or not specifically amended by this First Amendment, all of the terms and
provisions of the License Agreement are hereby amended to the extent necessary to give effect to the purpose and intent of this First Amendment. 

[Signatures are on the next page.] 

 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the
day and year first above written. 
  

							
	LICENSEE:
	
	 ARTIVA BIOTHERAPEUTICS, INC.,

a Delaware corporation

		
	By:	 	 /s/ Peter Flynn

	Its:	 	COO
	
	 ☒   I hereby certify that the signature, name, and title above
are my signature, name and title.

	
	LICENSEE:
	
	ARE-SD REGION NO. 37, LLC,
	a Delaware limited liability company
		
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
		 	a Delaware limited partnership, managing member
			
		 	By:	 	ARE-QRS CORP.,
		 		 	a Maryland corporation,
general partner
				
		 		 	By:	 	 /s/ Gary Dean

		 		 	Its:	 	Executive Vice President – Real Estate Legal Affairs

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