Document:

EX-10.18

 Exhibit 10.18 

CONSULTING AGREEMENT 
 This Consulting
Agreement (the “Agreement”) is made effective as of September 26, 2019 (the “Effective Date”), by and between Generation Bio Co., a Delaware corporation, with its principal place of business being 301 Binney Street, Suite
401, Cambridge, MA 02142 (the “Company”) and Danforth Advisors, LLC, a Massachusetts limited liability corporation, with its principal place of business being 91 Middle Road, Southborough, MA 01772 (“Danforth”). The Company and
Danforth are herein sometimes referred to individually as a “Party” and collectively as the “Parties.” 
 WHEREAS, the
Company possesses know-how and proprietary technology related to gene therapy; and 
 WHEREAS,
Danforth has expertise in financial and corporate operations and strategy; and 
 WHEREAS, Danforth desires to serve as an independent
consultant for the purpose of providing the Company with certain strategic and financial advice and support services, as more fully described in Exhibit A attached hereto, (the “Services”); and 

WHEREAS, the Company wishes to engage Danforth on the terms and conditions set forth herein. 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which are hereby acknowledged,
the Parties agree and covenant as follows. 
  

	1.	 Services of Consultant. Danforth will assist the Company with matters relating to the Services. The
Services are more fully described in Exhibit A attached hereto. Danforth and the Company will review the Services on a monthly basis to prioritize and implement the tasks listed on Exhibit A. 

 

	2.	 Compensation for Services. In full consideration of Danforth’s full, prompt and faithful
performance of the Services, the Company shall compensate Danforth a consulting fee more fully described in Exhibit A (the “Consulting Fee”). Danforth shall, from time to time, but not more frequently than twice per calendar month,
invoice the Company for Services rendered, and such invoice will be paid upon fifteen (15) days of receipt. Each month the Parties shall evaluate jointly the current fee structure and scope of Services. Danforth reserves the right to an annual
increase in consultant rates of up to 4%, effective January 1 of each year. Upon termination of this Agreement pursuant to Section 3, no compensation or benefits of any kind as described in this Section 2 shall be payable or issuable
to Danforth after the effective date of such termination. Parking will be provided to Consultant by Company. In addition, the Company will reimburse Danforth for reasonable
out-of-pocket business expenses, including but not limited to travel, incurred by Danforth in performing the Services hereunder, upon submission by Danforth of
supporting documentation reasonably acceptable to the Company. Any such accrued 

  
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expenses in any given three (3) month period that exceed one thousand dollars ($1,000) shall be submitted to the Company for its prior written approval. Notwithstanding the foregoing,
Danforth shall not incur total expenses in excess of $500 per month without the prior written approval of the Company. 

 All
Danforth invoices and billing matters should be addressed to: 
 Company Accounts Payable
Contact:             accounts-payable@generationbio.com 
 All Company
payments and billing inquiries should be addressed to: 
  

					
		  	Danforth Accounting:	  	 Betsy Sherr

bsherr@danforthadvisors.com
 (508) 277-0031
 Danforth Advisors

PO Box 335
 Southborough, MA 01772

  

	3.	 Term and Termination. The term of this Agreement will commence on the Effective Date and will continue
until such time as either party has given notice of termination pursuant to this paragraph 3 (the “Term”). This Agreement may be terminated by either Party hereto: (a) with Cause (as defined below), upon thirty (30) days prior
written notice to the other Party; or (b) without cause upon sixty (60) days prior written notice to the other Party. For purposes of this Section 3, “Cause” shall include: (i) a breach of the terms of this Agreement
which is not cured within thirty (30) days of written notice of such default or (ii) the commission of any act of fraud, embezzlement or deliberate disregard of a rule or policy of the Company. 

 

	4.	 Time Commitment. Danforth will devote such time to perform the Services under this Agreement as may
reasonably be required. 

  

	5.	 Place of Performance. Danforth will perform the Services at such locations upon which the Company and
Danforth may mutually agree. Danforth will not, without the prior written consent of the Company, perform any of the Services at any facility or in any manner that might give anyone other than the Company any rights to or allow for disclosure of any
Confidential Information (as defined below). 

  

	6.	 Compliance with Policies and Guidelines. Danforth will perform the Services in accordance with all rules
or policies adopted by the Company that the Company discloses in writing to Danforth. 

  

	7.	 Confidential Information. Danforth acknowledges and agrees that during the course of performing the
Services, the Company may furnish, disclose or make available to Danforth information, including, but not limited to, material, compilations, data, formulae, models, patent disclosures, procedures, processes, business plans, projections, protocols,
results of experimentation and testing, specifications, strategies and techniques, and all tangible and intangible embodiments thereof of any kind whatsoever (including, 

  
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but not limited to, any apparatus, biological or chemical materials, animals, cells, compositions, documents, drawings, machinery, patent applications, records and reports), which is owned or
controlled by the Company and is marked or designated as confidential at the time of disclosure or is of a type that is customarily considered to be confidential information (collectively the “Confidential Information”). Danforth
acknowledges that the Confidential Information or any part thereof is the exclusive property of the Company and shall not be disclosed to any third party without first obtaining the written consent of the Company, to be granted or withheld at the
Company’s sole discretion. Danforth further agrees to take all practical steps to ensure that the Confidential Information, and any part thereof, shall not be disclosed or issued to its affiliates, agents or employees, except on like terms of
confidentiality. The above provisions of confidentiality shall apply for a period of five (5) years from the Effective Date. 

  

	8.	 Intellectual Property. Danforth agrees that all ideas, inventions, discoveries, creations, manuscripts,
properties, innovations, improvements, know-how, designs, developments, apparatus, techniques, methods, and formulae that Danforth conceives, makes, develops or improves as a result of performing the Services,
whether or not reduced to practice and whether or not patentable, alone or in conjunction with any other party and whether or not at the request or upon the suggestion of the Company (all of the foregoing being hereinafter collectively referred to
as the “Inventions”), shall be the sole and exclusive property of the Company. Danforth hereby agrees in consideration of the Company’s agreement to engage Danforth and pay compensation for the Services rendered to the Company and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged that Danforth shall not, without the prior written consent of the Company, directly or indirectly, consult for, or become an employee of, any company
which conducts business in the Field of Interest anywhere in the world. As used herein, the term “Field of Interest” shall mean the research, development, manufacture and/or sale of the products resulting from the Company’s
technology. The limitations on competition contained in this Section 8 shall continue during the time that Danforth performs any Services for the Company, and for a period of three (3) months following the termination of any such
Services that Danforth performs for the Company. If any part of this section should be determined by a court of competent jurisdiction to be unreasonable in duration, geographic area, or scope, then this Section 8 is intended to and shall
extend only for such period of time, in such area and with respect to such activity as is determined to be reasonable. Except as expressly provided herein, nothing in this Agreement shall preclude Danforth from consulting for or being employed by
any other person or entity. 

  

	9.	 Non Solicitation. All personnel representing Danforth are employees or contracted agents of Danforth.
Accordingly, they are not retainable as employees or contractors by the Company and the Company hereby agrees not to solicit, hire or retain their services for so long as they are employees or contracted agents of Danforth and for two (2) years
thereafter. Should the Company violate this restriction, it agrees to pay Danforth liquidated damages equal to thirty percent (30%) of the employee’s starting annual base salary and target annual bonus for each Danforth contracted agent hired
by the Company in violation of this Agreement, plus Danforth’s reasonable attorneys’ fees and costs incurred in enforcing this agreement should the Company fail or refuse to pay the liquidated damages amount in full within thirty
(30) days following its violation. 

  
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	10.	 Placement Services. In the event that Danforth refers a potential employee to the Company and that
individual is hired, Danforth shall receive a fee equal to twenty percent (20%) of the employee’s starting annual base salary and target annual bonus. This fee is due and owing whether an individual is hired, directly or indirectly on a
permanent basis or on a contract or consulting basis by the Company, as a result of Danforth’s efforts within one (1) year of the date applicant(s) are submitted to the Company. Such payment is due within thirty (30) days of the
employee’s start date. In the event that such individual leaves the Company or is terminated by the Company within three (3) months of the individual’s engagement by Company, Danforth will either (i) provide additional candidates
who may reasonably replace the individual for Company’s review and potential hire at no additional cost to Company, or (ii) return to Company the payment made by Company associated with the hire of the individual, where Danforth shall
select between (i) and (ii) at its sole discretion. 

  

	11.	 No Implied Warranty. Except for any express warranties stated herein, the Services are provided on an
“as is” basis, and the Company disclaims any and all other warranties, conditions, or representations (express, implied, oral or written), relating to the Services or any part thereof. Further, in performing the Services Danforth is not
engaged to disclose illegal acts, including fraud or defalcations, which may have taken place. The foregoing notwithstanding, Danforth will promptly notify the Company if Danforth becomes aware of any such illegal acts during the performance of the
Services. Because the Services do not constitute an examination in accordance with standards established by the American Institute of Certified Public Accountants (the “AICPA”), Danforth is precluded from expressing an opinion as to
whether financial statements provided by the Company are in conformity with generally accepted accounting principles or any other standards or guidelines promulgated by the AICPA, or whether the underlying financial and other data provide a
reasonable basis for the statements. 

  

	12.	 Indemnification. Each Party hereto agrees to indemnify and hold the other Party hereto, its directors,
officers, agents and employees harmless against any claim based upon circumstances alleged to be inconsistent with such representations and/or warranties contained in this Agreement. Further, the Company shall indemnify and hold harmless Danforth
and any of its subcontractors against any claims, losses, damages or liabilities (or actions in respect thereof) that arise out of or are based on the Services performed hereunder, except for any such claims, losses, damages or liabilities arising
out of the gross negligence or willful misconduct of Danforth or any of its subcontractors. The Company will endeavor to add Consultant and any applicable subcontractor to its insurance policies as additional insureds.    Until
such time as the Company obtains a Crime and Cyber Insurance Policy that includes coverage for “Social Engineering” claims and extends coverage to Danforth, the Company shall indemnify and hold harmless Danforth and any of its
subcontractors against any claims, losses, damages or liabilities (or actions in respect thereof) that arise out of or are based on cyber-crime, except for any such claims, losses, damages or liabilities arising out of the gross negligence or
willful misconduct of Danforth 

  
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	13.	 Independent Contractor. Danforth is not, nor shall Danforth be deemed to be at any time during the term
of this Agreement, an employee of the Company, and therefore Danforth shall not be entitled to any benefits provided by the Company to its employees, if applicable. Danforth’s status and relationship with the Company shall be that of an
independent contractor and consultant. Danforth shall not state or imply, directly or indirectly, that Danforth is empowered to bind the Company without the Company’s prior written consent. Nothing herein shall create, expressly or by
implication, a partnership, joint venture or other association between the parties. Danforth will be solely responsible for payment of all charges and taxes arising from his or her relationship to the Company as a consultant. 

 

	14.	 Records. Upon termination of Danforth’s relationship with the Company, Danforth shall deliver to
the Company any property or Confidential Information of the Company relating to the Services which may be in its possession including products, project plans, materials, memoranda, notes, records, reports, laboratory notebooks, or other documents or
photocopies and any such information stored using electronic medium. 

  

	15.	 Notices. Any notice under this Agreement shall be in writing (except in the case of verbal
communications, emails and teleconferences updating either Party as to the status of work hereunder) and shall be deemed delivered upon personal delivery, one day after being sent via a reputable nationwide overnight courier service or two days
after deposit in the mail or on the next business day following transmittal via facsimile. Notices under this Agreement shall be sent to the following representatives of the Parties: 

If to the Company: 
  

					
		  	Name:	  	Geoff McDonough, MD
		  	Title:	  	President & CEO
		  	Address:	  	301 Binney Street, Cambridge, MA 02142
		  	Phone:	  	(617) 909-8331
		  	E-mail:	  	gmcdonough@generationbio.com

 If to Danforth: 
  

					
		  	Name:	  	Gregg Beloff
		  	Title:	  	Managing Director
		  	Address:	  	91 Middle Road
		  		  	Southborough, MA 01772
		  	Phone:	  	(617) 686-7679
		  	E-mail:	  	gbeloff@danforthadvisors.com

  

	16.	 Assignment and Successors. This Agreement may not be assigned by a Party without the consent of the
other which consent shall not be unreasonably withheld, except that each Party may assign this Agreement and the rights, obligations and interests of such Party, in whole or in part, to any of its Affiliates, to any purchaser of all or substantially
all of its assets or to any successor corporation resulting from any merger or consolidation of such Party with or into such corporation. 

  
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	17.	 Force Majeure. Neither Party shall be liable for failure of or delay in performing obligations set forth
in this Agreement, and neither shall be deemed in breach of its obligations, if such failure or delay is due to natural disasters or any causes beyond the reasonable control of either Party. In the event of such force majeure, the Party affected
thereby shall use reasonable efforts to cure or overcome the same and resume performance of its obligations hereunder. 

  

	18.	 Headings. The Section headings are intended for convenience of reference only and are not intended to be
a part of or to affect the meaning or interpretation of this Agreement. 

  

	19.	 Integration; Severability. This Agreement is the sole agreement with respect to the subject matter
hereof and shall supersede all other agreements and understandings between the Parties with respect to the same. If any provision of this Agreement is or becomes invalid or is ruled invalid by any court of competent jurisdiction or is deemed
unenforceable, it is the intention of the Parties that the remainder of the Agreement shall not be affected. 

  

	20.	 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts, excluding choice of law principles. The Parties agree that any action or proceeding arising out of or related in any way to this Agreement shall be brought solely in a Federal or State court of competent jurisdiction
sitting in the Commonwealth of Massachusetts. 

  

	21.	 Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original,
but all of which together will constitute one agreement. 

 If you are in agreement with the foregoing, please sign where indicated below,
whereupon this Agreement shall become effective as of the Effective Date. 
  

									
	DANFORTH ADVISORS, LLC	 		 	GENERATION BIO CO.
					
	By:	 	/s/ Stephen DiPalma	 		 	By:	 	/s/ Geoff McDonough
					
	Print Name:	 	Stephen DiPalma	 		 	Print Name:	 	Geoff McDonough, MD
					
	Title:	 	Managing Director	 		 	Title:	 	President & CEO
					
	Date:	 	24 September 2019	 		 	Date:	 	September 26, 2019

  
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 EXHIBIT A 

Description of Services and Schedule of Fees 

Danforth will perform mutually agreed to finance and accounting functions which are necessary to support the management and operations of the Company, certain
of which are set forth below. 
 Senior Financial Advisor Services 
  

	 	•	 	 Consultant will serve as Senior Financial Advisor to the Company, working collaboratively with the Company’s
CFO, to address the following: 

  

	 	•	 	 Preparation for a potential Initial Public Offering 

 

	 	•	 	 Participate in other financing activities, including private equity capital financings 

 

	 	•	 	 Support the Company’s 2020 operating planning and budgeting process 

 

	 	•	 	 Assist with overseeing the Company’s Finance function 

 

	 	•	 	 Participate in Board, Audit, Compensation, and Corporate Governance committee meeting preparation and attendance,
as requested 

 CFO Services – Stephen DiPalma (Consultant) – $400/hr. 

  
 7EX-10.19

 Exhibit 10.19 

 
 

 
 By Electronic Mail 

[Date] 
 [Name] 

[Street Address] 
 [City, State ZIP] 

RE: Severance Plan Benefit  
 Dear [Name]: 

Generation Bio (the “Company”) is pleased to set forth the severance benefits that you may be eligible to receive upon certain terminations of your
employment with the Company (or its successor) under this letter agreement (“Agreement”). All other terms and conditions of your employment as set forth in your offer letter from the Company dated as of [_______] (the “Offer
Letter”) and otherwise, remain the same, including your at-will employment status, which means that either you or the Company may terminate your employment at any time, for any reason by providing written
notification to the other party. In addition, your confidentiality and other obligations under the Company’s Invention, Non-Disclosure, and Non-Solicitation
Agreement (the “Non-Disclosure Agreement”) remain in full force and effect. Capitalized terms are defined in Section 4, unless otherwise noted. 

 

	1.	 Accrued Obligations 

If your employment terminates for any reason, including for Cause or as a result of Involuntary Termination, the Company will pay you the Accrued Obligations
earned through your last day of employment (the “Separation Date”) on or before the time required by law or applicable policy, except to the extent any such payments would accelerate compensation in a manner inconsistent with compliance
with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 
  

	2.	 Severance Plan Benefit 

If you are subject to an Involuntary Termination, in addition to the Accrued Obligations, you will be eligible to receive severance benefits as described under
Sections 2(A) or (B) below, as applicable (“Severance Benefits”), provided you have: (i) returned all Company property in your possession on or prior to the Separation Date, (ii) resigned as a member of the Board of
Directors of the Company (the “Board”) or of any subsidiary of the Company, to the extent you are then a director of the Company or of any such subsidiary, and (iii) entered into a separation agreement that has become enforceable and
irrevocable and includes a general release of all claims you may have against the Company or persons affiliated with the Company (the “Separation Agreement”). Notwithstanding the foregoing, except as set forth in Section 2(A)(iv) or
Section 2(B)(iv), no term of this Agreement or the Separation Agreement shall impact or affect in any way your rights with respect to, and the Separation Agreement shall not include a waiver or release of any claims related to: (x) your
status as a stockholder or equity holder of the Company or any rights you have under the terms of any equity award agreement between you and the 

  
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Company, including any claims with respect to any options or other equity awards owned or held by you at the time your employment is terminated, or (y) any rights to indemnification from the
Company, pursuant to any applicable governing documents of the Company or any applicable written agreement between you and the Company, rights under ERISA or rights which, as a matter of law, cannot be waived. The Separation Agreement, in a form to
be provided to you by the Company, must be executed and become enforceable and irrevocable within 52 days following the Separation Date, or such shorter period of time prescribed by the Company (the date by which the Separation Agreement must become
enforceable and irrevocable, the “Prescribed Deadline”). If the Separation Agreement is not executed or is executed but has not become enforceable and irrevocable by the Prescribed Deadline, you shall be entitled to the Accrued Obligations
only and not to any Severance Benefits. Any Severance Benefits shall be paid, or begin to be paid, in the first regular payroll beginning after the Separation Agreement becomes enforceable and irrevocable, provided that if the foregoing 52-day period begins in the year in which your Separation Date occurs and ends in the following year, the Company will not make any payments before the first payroll date falling after the later of
(A) January 1 of the year following the year in which your Separation Date occurs and (B) the date on which Separation Agreement becomes enforceable and irrevocable (the date the Severance Benefits are paid or commence pursuant to
this sentence, the “Payment Date”). The first payroll shall include, however, all amounts that would otherwise have been paid to you between the Separation Date and your receipt of the first payment. 

A. Involuntary Termination Prior to or More than 12 months Following a Change in Control 

In the event of your Involuntary Termination prior to or more than 12 months following a Change in Control, you are eligible to receive the following
Severance Benefits: 
  

	 	i.	 Salary. The Company shall continue to pay you your base salary as in effect on the Separation Date for a
period of [nine (9)][twelve (12)] months, payable in accordance with the Company’s standard payroll schedule; 

  

	 	ii.	 Bonus Payment. The Company may pay you an amount determined by reference to your target annual incentive
bonus for the year in which the Separation Date occurs, based on Company and individual performance for such year, as determined by the Board in its sole discretion, and pro-rated based on the number of days
you were employed by the Company in such year, which payment (if any) will be paid to you in a single lump sum amount on the later of (1) the Payment Date or (2) the date on which bonuses are paid to other executives of the Company but no
later than two and one-half (2.5) months following the end of the year in which the Separation Date occurs; and 

  

	 	iii.	 Health Insurance. If you are participating in the Company’s group health plan immediately prior to
the Separation Date and you are eligible for and timely elect COBRA health and dental continuation, then the Company will continue to pay the share of the premium the Company would have paid to provide health and dental coverage to you and your
eligible dependents if you had remained employed by the Company for a period ending on the earlier of the date that is [nine (9)][twelve (12)] months following the Separation Date or the date COBRA eligibility ends, as such premiums become due,
provided that the Company’s payment for COBRA coverage shall only apply if and while permitted under applicable tax or other laws as nondiscriminatory. 

  
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	 	iv.	 Equity. Twenty-five percent (25%) of the unvested portion of any then-outstanding equity grant from the
Company to you (collectively, the “Equity Grants”), shall vest and become fully exercisable or non-forfeitable as of the Separation Date, provided however, that 

 

	 	a.	 no such acceleration shall be effective until the Separation Agreement has become enforceable and irrevocable;
and 

  

	 	b.	 if the Separation Agreement does not become enforceable and irrevocable, the portions of the Equity Grants that
have would have vested as a result of this provision shall not vest and shall be treated in accordance with the terms and conditions of the applicable award agreement. 

B. Involuntary Termination On or Within 12 Months Following a Change in Control 

In the event of your Involuntary Termination on or within 12 months following a Change in Control (including the
one-year anniversary thereof), you are eligible to receive the following Severance Benefits: 
  

	 	i.	 Salary. The Company shall [pay you a lump sum amount on the Payment Date equal to twelve
(12) months of your base salary as in effect on the Separation Date][continue to pay you your base salary as in effect on the Separation Date for a period of eighteen (18) months, payable in accordance with the Company’s standard
payroll schedule]; 

  

	 	ii.	 Bonus Payment. The Company shall pay you a lump sum amount on the Payment Date equal to your target
annual incentive bonus [multiplied by 1.5] for the year in which your Separation Date occurs; 

  

	 	iii.	 Health Insurance. If you are participating in the Company’s group health plan immediately prior to
the Separation Date and you are eligible for and timely elect COBRA health and dental continuation, then the Company will continue to pay the share of the premium the Company would have paid to provide health and dental coverage to you and your
eligible dependents if you had remained employed by the Company for a period ending on the earlier of the date that is [twelve (12)][eighteen (18)] months following the Separation Date or the date COBRA eligibility ends, as such premiums become due,
provided that the Company’s payment for COBRA coverage shall only apply if and while permitted under applicable tax or other laws as nondiscriminatory; and 

 

	 	iv.	 Equity. One hundred percent (100%) of the unvested portion of any then-outstanding Equity Grant shall
vest and become fully exercisable or non-forfeitable as of the Separation Date, provided however, that: 

  

	 	a.	 no such acceleration shall be effective until the Separation Agreement has become enforceable and irrevocable;
and 

  

	 	b.	 if the Separation Agreement does not become enforceable and irrevocable, the portions of the Equity Grants that
would have vested as a result of this provision shall not vest and shall be treated in accordance with the terms and conditions of the applicable award agreement. 

  
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	3.	 Taxes 

A. Withholding. 
 All forms of compensation
referred to in this letter are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law. You hereby acknowledge that the Company does not have a duty to design its compensation policies in a
manner that minimizes your tax liabilities and that you will not make any claim against the Company or the Board related to tax liabilities arising from your compensation. 

B. Payments Subject to Section 409A. 

Notwithstanding anything to the contrary in this Agreement, no severance payments that may be due under this Agreement may begin prior to the date of your
Separation (determined as set forth below) which may occur on or after the termination of your employment. The following rules shall apply with respect to distribution of the severance payments, if any, to be provided to you under this Agreement, as
applicable: 
  

	 	i.	 It is intended that each installment of the severance payments provided under this Agreement shall be treated
as a separate “payment” for purposes of Section 409A of the Code (“Section 409A”). Neither the Company nor you shall have the right to accelerate or defer the delivery of any such payments except to the extent
specifically permitted or required by Section 409A. 

  

	 	ii.	 If, as of the date of your Separation from the Company, you are not a “specified employee” (within
the meaning of Section 409A), then each installment of the severance payments shall be made on the dates and terms set forth in this Agreement. 

  

	 	iii.	 If, as of the date of your Separation from the Company, you are a “specified employee” (within the
meaning of Section 409A), then: 

  

	 	1.	 Each installment of the severance payments due under this Agreement that, in accordance with the dates and
terms set forth herein, will in all circumstances, regardless of when your Separation occurs, be paid within the short-term deferral period (as defined under Section 409A) shall be treated as a short-term deferral within the meaning of Treasury
Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A and shall be paid on the dates and terms set forth this Agreement; and 

 

	 	2.	 Each installment of the severance payments due under this Agreement that is not described in this
Section 3(B)(iii)(1) and that would, absent this subsection, be paid within the six-month period following your Separation from the Company shall not be paid until the date that is six months and one day
after such Separation (or, if earlier, as soon as practicable following your death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump
sum on the date that is six months and one day following your Separation and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence
shall not apply to any installment of payments if and to the maximum 

  
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extent that that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation
Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of your second taxable year following the taxable year in which the Separation occurs. 

The determination of whether and when your Separation from the Company has occurred shall be made in a manner consistent with, and based on the presumptions
set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this Section 3, “Company” shall include all persons with whom the Company would be considered a single employer
under Section 414(b) and 414(c) of the Code. 
 All reimbursements and in-kind benefits provided under this
Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where
applicable, the requirements that (i) any reimbursement is for expenses incurred during your lifetime (or during a shorter period of time specified in this letter agreement), (ii) the amount of expenses eligible for reimbursement during a
calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense
is incurred and (iv) the right to reimbursement is not subject to set off or liquidation or exchange for any other benefit. 
 The Company makes no
representation or warranty and shall have no liability to you or to any other person if any of the provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A but that do not satisfy an exemption
from, or the conditions of, that section. 
  

	4.	 Definitions 

The following terms have the meaning set forth below wherever they are used in this letter: 

A. “Accrued Obligations” means: (i) any earned but unpaid base salary as of the Separation Date, (ii) any accrued, but
unused vacation time as of the Separation Date, (iii) any vested benefits you may have under any employee benefit plan of the Company as of the Separation Date in accordance with the terms of the applicable benefit plan, (iv) any unpaid
expense reimbursements accrued prior to the Separation Date for which you have timely submitted appropriate documentation in accordance with Company policy, and (v) any unpaid but earned bonus approved by the Board for a fiscal year preceding
the year in which your employment is terminated. 
 B. “Cause” means (i) your material breach of the Non-Disclosure Agreement, (ii) your conviction of, or your plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State, (iii) your gross negligence or
willful misconduct in the performance of your duties, (iv) your continuing failure to perform assigned duties after receiving written notification of the failure from the Company, or (v) your 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 your cooperation; provided, however, that “Cause” shall not be deemed to have occurred pursuant to subsection
(iii), (iv), or (v) hereof unless you have first received written notice from the [Company][Board] specifying in reasonable detail the particulars of such grounds and that the Company intends to terminate your employment hereunder for such
grounds, and you have failed to cure such grounds to the Company’s satisfaction within a period of thirty (30) days from the date of such notice. 

  
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 C. “Change in Control” means the occurrence of any one or more of the following
events, in each case only to the extent that such event also constitutes a “change in ownership” of the Company or a “change in the ownership of a substantial part of the Company’s assets” for the purposes of
Section 409A: (i) the consummation of a merger or consolidation of the Company with any other entity, other than a merger or consolidation in which voting securities of the Company outstanding immediately prior thereto continue to
represent more than fifty percent (50%) percent of the total voting power entitled to vote generally in the election of directors: (A) the surviving or resulting corporation; or (B) if the surviving or resulting corporation is a wholly
owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation immediately after such merger or consolidation; (ii) the acquisition by an individual,
entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership of any capital stock of the Company if, after such acquisition, such Person beneficially owns (within the
meaning of Rule 13d-3 under the Exchange Act) more than 50% of the total voting power of the then-outstanding securities of the Company entitled to vote generally in the election of directors; provided,
however, that for purposes of this subsection (ii), the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly from the Company or (B) any acquisition by any corporation pursuant to a merger or
consolidation which falls within the exception provided in subsection (i) above; or (iii) the sale, transfer or exclusive license of all or substantially all of the assets of the Company. 

D. “Involuntary Termination” means either (i) your Termination Without Cause, or (ii) your Resignation for Good Reason.

 E. “Resignation for Good Reason” means a Separation as a result of your resignation within three (3) months after one of
the following conditions has come into existence without your consent: (i) a reduction in your base salary by more than 10% (unless such reduction is part of a broad-based salary reduction program at the Company); (ii) [your removal from the
Board or a failure by the Company to nominate you for reelection to the Board by the stockholders of the Company; (iii) a requirement that you report to a corporate officer or employee instead of reporting directly to the board; (iv)] a
material diminution of your authority, duties or responsibilities; [or (iii)][(v)] a relocation of your principal workplace by more than forty (40) miles[, or (vi) a material breach of this Agreement by the Company]. 

A Resignation for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within thirty
(30) days after the condition comes into existence and the Company fails to remedy the condition within thirty (30) days after receiving your written notice. 

F. “Separation” means a “separation from service,” as defined in the regulations under Section 409A. 

G. “Termination Without Cause” means a Separation as a result of a termination of your employment by the Company without Cause,
provided you are willing and able to continue performing services within the meaning of Treasury Regulation 1.409A-1(n)(1). 

  
 6 

	5.	 General Provisions 

A. Severability. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of
competent jurisdiction, then the remainder of this Agreement shall remain be valid and enforceable to the fullest extent permitted under applicable law. 

B. Jurisdiction. You and the Company hereby agree that the state and federal courts in the Commonwealth of Massachusetts shall have the
exclusive jurisdiction to consider any matters related to this Agreement, including without limitation any claim of a violation of this Agreement. With respect to any such court action, you submit to the jurisdiction of such courts and you
acknowledge that venue in such courts is proper. 
 C. Governing Law; Interpretation. This Agreement shall be interpreted and
enforced under the laws of the Commonwealth of Massachusetts, without regard to conflict of law principles. In the event of any dispute, this Agreement is intended by the parties to be construed as a whole, to be interpreted in accordance with its
fair meaning, and not to be construed strictly for or against either you or the Company or the “drafter” of all or any portion of this Agreement. 

D. Entire Agreement. This Agreement shall be effective as of the date first set forth above. This Agreement constitutes the entire
agreement between you and the Company with respect to the subject matter herein. This Agreement supersedes any previous agreements or understandings between you and the Company with respect to the subject matter herein, including, for the avoidance
of doubt, Section 6 [and 7] and any related provisions of the Offer Letter, except for the Non-Disclosure Agreement and, except as set forth in Section 2(A)(iv) or Section 2(B)(iv), the
Equity Grants, which remain in full force and effect. 
 If you have any questions regarding the benefits set forth in this Agreement, please do not
hesitate to contact ___________________. Please sign below and return to _________________ on or before ___________________. 
  

			
	Very truly yours,
	
	Generation Bio Co.

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	

 I accept the terms set forth in this Agreement. 

 

	
	 
	Signature
	
	Name:                                     
                                         
                   
	Dated:                                    
                                         
                    

  
 7

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