Document:

EX-10.2

 Exhibit 10.2 

BOLT BIOTHERAPEUTICS, INC. 

(FKA BOLT THERAPEUTICS, INC.) 

AMENDED AND RESTATED 2015 EQUITY INCENTIVE PLAN 

ORIGINAL PLAN ADOPTED BY THE BOARD OF
DIRECTORS: APRIL 20, 2015 
 ORIGINAL PLAN APPROVED
BY THE STOCKHOLDERS: APRIL 20, 2016 
 AMENDED
AND RESTATED PLAN ADOPTED BY THE BOARD OF DIRECTORS: SEPTEMBER 17, 2016 

AMENDED AND RESTATED PLAN ADOPTED BY
THE STOCKHOLDERS: SEPTEMBER 21, 2016 
 AMENDED AND
RESTATED PLAN ADOPTED BY THE BOARD OF DIRECTORS: JULY 25, 2018 

AMENDED AND RESTATED PLAN ADOPTED BY
THE STOCKHOLDERS: JULY 25, 2018 
 AMENDED AND
RESTATED PLAN ADOPTED BY THE BOARD OF DIRECTORS: JUNE 26, 2019 

AMENDED AND RESTATED PLAN ADOPTED BY
THE STOCKHOLDERS: JUNE 28, 2019 
 AMENDED AND
RESTATED PLAN ADOPTED BY THE BOARD OF DIRECTORS: JUNE 26, 2020 

AMENDED AND RESTATED PLAN ADOPTED BY
THE STOCKHOLDERS: JUNE 28, 2020 
 AMENDED BY
THE COMPENSATION COMMITTEE: SEPTEMBER 3, 2020 
 1.
PURPOSE. The purpose of this Plan is to provide incentives to attract, retain and motivate eligible persons whose present and potential contributions are important to the success of the Company, its Parent and Subsidiaries by offering
eligible persons an opportunity to participate in the Company’s future performance through the grant of Awards covering Shares. Capitalized terms not defined in the text are defined in Section 14 hereof. Although this Plan is intended to
be a written compensatory benefit plan within the meaning of Rule 701, grants may be made pursuant to this Plan that do not qualify for exemption under Rule 701 or Section 25102(o). Any requirement of this Plan that is required in law
only because of Section 25102(o) need not apply if the Committee so provides. 
 2. SHARES SUBJECT TO THE PLAN.

 2.1 Number of Shares Available. Subject to Sections 2.2 and 11 hereof, the total number of Shares reserved and
available for grant and issuance pursuant to this Plan will be 30,013,743 Shares. Subject to Sections 2.2 and 11 hereof, Shares subject to Awards that are cancelled, forfeited, settled in cash, used to pay withholding obligations or pay the
exercise price of an Option or that expire by their terms at any time will again be available for grant and issuance in connection with other Awards. In the event that Shares previously issued under the Plan are reacquired by the Company pursuant to
a forfeiture provision, right of first refusal, or repurchase by the Company, such Shares shall be added to the number of Shares then available for issuance under the Plan. At all times the Company will reserve and keep available a sufficient number
of Shares as will be required to satisfy the requirements of all Awards granted and outstanding under this Plan. In no event shall the total number of Shares issued (counting each reissuance of a Share that was previously issued and then forfeited
or repurchased by the Company as a separate issuance) under the Plan upon exercise of ISOs exceed 60,027,486 Shares (adjusted in proportion to any adjustments under Section 2.2 hereof) over the term of the Plan (the “ISO
Limit”). Subject to Sections 2.2 and 11 hereof, in the event that the number of Shares reserved for issuance under the Plan is increased, the ISO Limit shall be automatically increased by such number of Shares such that the ISO
Limit equals (a) two (2) multiplied by (b) the number of Shares reserved for issuance under the Plan. 

 2.2 Adjustment of Shares. In the event that the number of outstanding
shares of the Company’s Common Stock is changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or other change in the capital structure of the Company affecting Shares without
consideration, then in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan (a) the number of Shares reserved for issuance under this Plan, (b) the Exercise Prices of
and number of Shares subject to outstanding Options and SARs, and (c) the Purchase Prices of and/or number of Shares subject to other outstanding Awards will (to the extent appropriate) be proportionately adjusted, subject to any required
action by the Board or the stockholders of the Company and compliance with applicable securities laws; provided, however, that fractions of a Share will not be issued but will either be paid in cash at the Fair Market
Value of such fraction of a Share or will be rounded down to the nearest whole Share, as determined by the Committee. 
 3.
PLAN FOR BENEFIT OF SERVICE PROVIDERS. 
 3.1 Eligibility. The Committee will have the authority to
select persons to receive Awards. ISOs (as defined in Section 4 hereof) may be granted only to employees (including officers and directors who are also employees) of the Company or of a Parent or Subsidiary of the Company. NQSOs (as defined in
Section 4 hereof) and all other types of Awards may be granted to employees, officers, directors and consultants of the Company or any Parent or Subsidiary of the Company; provided such consultants render bona fide services not in
connection with the offer and sale of securities in a capital-raising transaction when Rule 701 is to apply to the Award granted for such services. A person may be granted more than one Award under this Plan. 

3.2 No Obligation to Employ. Nothing in this Plan or any Award granted under this Plan will confer or be deemed to confer
on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent or Subsidiary or limit in any way the right of the Company or any Parent or Subsidiary to terminate Participant’s
employment or other relationship at any time, with or without Cause. 
 4. OPTIONS. The Committee may grant Options to
eligible persons described in Section 3 hereof and will determine whether such Options will be Incentive Stock Options within the meaning of the Code (“ISOs”) or Nonqualified Stock Options
(“NQSOs”), the number of Shares subject to the Option, the Exercise Price of the Option, the period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following. 

4.1 Form of Option Grant. Each Option granted under this Plan will be evidenced by an Award Agreement which will
expressly identify the Option as an ISO or an NQSO (“Stock Option Agreement”), and will be in such form and contain such provisions (which need not be the same for each Participant) as the Committee may from time to time
approve, and which will comply with and be subject to the terms and conditions of this Plan. 

  
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 4.2 Date of Grant. The date of grant of an Option will be the date on
which the Committee makes the determination to grant such Option, unless a later date is otherwise specified by the Committee. The Stock Option Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the
granting of the Option. 
 4.3 Exercise Period. Options may be exercisable within the time or upon the events
determined by the Committee in the Award Agreement and may be awarded as immediately exercisable but subject to repurchase pursuant to Section 10 hereof or may be exercisable within the times or upon the events determined by the Committee as
set forth in the Stock Option Agreement governing such Option; provided, however, that (a) no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted; and
(b) no ISO granted to a person who directly or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary (“Ten Percent
Stockholder”) will be exercisable after the expiration of five (5) years from the date the ISO is granted. The Committee also may provide for Options to become exercisable at one time or from time to time, periodically or
otherwise, in such number of Shares or percentage of Shares as the Committee determines. 
 4.4 Exercise Price. The
Exercise Price of an Option will be determined by the Committee when the Option is granted and shall not be less than the Fair Market Value per Share unless expressly determined in writing by the Committee on the Option’s date of grant;
provided that the Exercise Price of an ISO granted to a Ten Percent Stockholder will not be less than one hundred ten percent (110%) of the Fair Market Value of the Shares on the date of grant. Payment for the Shares purchased must be
made in accordance with Section 8 hereof. 
 4.5 Method of Exercise. Options may be exercised only by delivery to
the Company of a written stock option exercise agreement (the “Exercise Agreement”) in a form approved by the Committee (which need not be the same for each Participant). The Exercise Agreement will state
(a) the number of Shares being purchased, (b) the restrictions imposed on the Shares purchased under such Exercise Agreement, if any, and (c) such representations and agreements regarding Participant’s investment intent and
access to information and other matters, if any, as may be required or desirable by the Company to comply with applicable securities laws. Each Participant’s Exercise Agreement may be modified by (i) agreement of Participant and the
Company or (ii) substitution by the Company, upon becoming a public company, in order to add the payment terms set forth in Section 8.1 that apply to a public company and such other terms as shall be necessary or advisable in order to
exercise a public company option. Upon exercise of an Option, Participant shall execute and deliver to the Company the Exercise Agreement then in effect, together with payment in full of the Exercise Price for the number of Shares being purchased
and payment of any applicable taxes. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 2.2 of the Plan. Exercising an Option in any
manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 

4.6 Termination. Subject to earlier termination pursuant to Sections 11 and 13.3 hereof and notwithstanding the
exercise periods set forth in the Stock Option Agreement, exercise of an Option will always be subject to the following terms and conditions. 

  
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 4.6.1 Other than Death or Disability or for Cause. If the Participant is Terminated
for any reason other than death, Disability or for Cause, then the Participant may exercise such Participant’s Options only to the extent that such Options are exercisable as to Vested Shares upon the Termination Date or as otherwise determined
by the Committee. Such Options must be exercised by the Participant, if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within three (3) months after the
Termination Date (or within such shorter time period, not less than thirty (30) days, or within such longer time period after the Termination Date as may be determined by the Committee, with any exercise beyond three (3) months after the
date Participant ceases to be an employee deemed to be an NQSO) but in any event, no later than the expiration date of the Options. 

4.6.2 Death or Disability. If the Participant is Terminated because of Participant’s death or Disability (or the Participant dies
within three (3) months after a Termination other than for Cause), then Participant’s Options may be exercised only to the extent that such Options are exercisable as to Vested Shares by Participant on the Termination Date or as otherwise
determined by the Committee. Such options must be exercised by Participant (or Participant’s legal representative or authorized assignee), if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other
date determined by the Committee, within twelve (12) months after the Termination Date (or within such shorter time period, not less than six (6) months, or within such longer time period, after the Termination Date as may be determined by
the Committee, with any exercise beyond (a) three (3) months after the date Participant ceases to be an employee when the Termination is for any reason other than the Participant’s death or disability, within the meaning of
Section 22(e)(3) of the Code, or (b) twelve (12) months after the date Participant ceases to be an employee when the Termination is for Participant’s disability, within the meaning of Section 22(e)(3) of the Code, deemed to
be an NQSO) but in any event no later than the expiration date of the Options. 
 4.6.3 For Cause. If the Participant is terminated
for Cause, the Participant may exercise such Participant’s Options, but not to an extent greater than such Options are exercisable as to Vested Shares upon the Termination Date and Participant’s Options shall expire on such
Participant’s Termination Date, or at such later time and on such conditions as are determined by the Committee. 
 4.7
Limitations on Exercise. The Committee may specify a reasonable minimum number of Shares that may be purchased on any exercise of an Option, provided that such minimum number will not prevent Participant from exercising
the Option for the full number of Shares for which it is then exercisable. 
 4.8 Limitations on ISOs. The aggregate
Fair Market Value (determined as of the date of grant) of Shares with respect to which ISOs are exercisable for the first time by a Participant during any calendar year (under this Plan or under any other incentive stock option plan of the Company
or any Parent or Subsidiary of the Company) will not exceed One Hundred Thousand Dollars ($100,000). If the Fair Market Value of Shares on the date of grant with respect to which ISOs are exercisable for the first time by a Participant during any
calendar year exceeds One Hundred Thousand Dollars ($100,000), then the Options for the first One Hundred Thousand Dollars ($100,000) worth of Shares to become exercisable in such calendar year will be ISOs and the Options for the amount in excess
of One Hundred Thousand Dollars ($100,000) that become exercisable in 

  
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that calendar year will be NQSOs. In the event that the Code or the regulations promulgated thereunder are amended after the Effective Date (as defined in Section 13.1 hereof) to provide for
a different limit on the Fair Market Value of Shares permitted to be subject to ISOs, then such different limit will be automatically incorporated herein and will apply to any Options granted after the effective date of such amendment. 

4.9 Modification, Extension or Renewal. The Committee may modify, extend or renew outstanding Options and authorize the
grant of new Options in substitution therefor, provided that any such action may not, without the written consent of a Participant, impair any of such Participant’s rights under any Option previously granted. Any outstanding ISO
that is modified, extended, renewed or otherwise altered will be treated in accordance with Section 424(h) of the Code. Subject to Section 4.10 hereof, the Committee may reduce the Exercise Price of outstanding Options without the consent
of Participants by a written notice to them; provided, however, that the Exercise Price may not be reduced below the minimum Exercise Price that would be permitted under Section 4.4 hereof for Options granted on the
date the action is taken to reduce the Exercise Price. 
 4.10 No Disqualification. Notwithstanding any other provision
in this Plan, no term of this Plan relating to ISOs will be interpreted, amended or altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section 422 of the Code or, without the
consent of the Participant, to disqualify any Participant’s ISO under Section 422 of the Code. 
 5. RESTRICTED
STOCK. A Restricted Stock Award is an offer by the Company to sell to an eligible person Shares that are subject to certain specified restrictions. The Committee will determine to whom an offer will be made, the number of Shares the person
may purchase, the Purchase Price, the restrictions to which the Shares will be subject, and all other terms and conditions of the Restricted Stock Award, subject to the following terms and conditions. 

5.1 Form of Restricted Stock Award. All purchases under a Restricted Stock Award made pursuant to this Plan will
be evidenced by an Award Agreement (“Restricted Stock Purchase Agreement”) that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply
with and be subject to the terms and conditions of this Plan. The Restricted Stock Award will be accepted by the Participant’s execution and delivery of the Restricted Stock Purchase Agreement and full payment for the Shares to the Company
within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted Stock Purchase Agreement along with full payment for the Shares to the Company
within such thirty (30) days, then the offer will terminate, unless otherwise determined by the Committee. 
 5.2 Purchase
Price. The Purchase Price of Shares sold pursuant to a Restricted Stock Award will be determined by the Committee on the date the Restricted Stock Award is granted or at the time the purchase is consummated. Payment of the Purchase Price
must be made in accordance with Section 8 hereof. 
 5.3 Dividends and Other Distributions. Participants holding
Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless 

  
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the Committee provides otherwise at the time of award. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and
forfeitability as the Shares of Restricted Stock with respect to which they were paid. 
 5.4 Restrictions. Restricted
Stock Awards may be subject to the restrictions set forth in Sections 9 and 10 hereof or, with respect to a Restricted Stock Award to which Section 25102(o) is to apply, such other restrictions not inconsistent with Section 25102(o).

 6. RESTRICTED STOCK UNITS. 

6.1 Awards of Restricted Stock Units. A Restricted Stock Unit (“RSU”) is an Award covering a
number of Shares that may be settled in cash, or by issuance of those Shares at a date in the future. No Purchase Price shall apply to an RSU settled in Shares. All grants of Restricted Stock Units will be evidenced by an Award Agreement that will
be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan. 

6.2 Form and Timing of Settlement. To the extent permissible under applicable law, the Committee may permit a Participant
to defer payment under a RSU to a date or dates after the RSU is earned, provided that the terms of the RSU and any deferral satisfy the requirements of Section 409A of the Code (or any successor) and any regulations or rulings
promulgated thereunder. Payment may be made in the form of cash or whole Shares or a combination thereof, all as the Committee determines. 

7. STOCK APPRECIATION RIGHTS. 

7.1 Awards of SARs. Stock Appreciation Rights (“SARs”) may be settled in cash, or Shares (which
may consist of Restricted Stock or RSUs), having a value equal to the value determined by multiplying the difference between the Fair Market Value on the date of exercise over the Exercise Price and the number of Shares with respect to which the SAR
is being settled. All grants of SARs made pursuant to this Plan will be evidenced by an Award Agreement that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with
and be subject to the terms and conditions of this Plan. 
 7.2 Exercise Period and Expiration Date. A SAR will be
exercisable within the times or upon the occurrence of events determined by the Committee and set forth in the Award Agreement governing such SAR. The Award Agreement shall set forth the Expiration Date; provided that no SAR will be
exercisable after the expiration of ten years from the date the SAR is granted. 
 7.3 Exercise Price. The Committee
will determine the Exercise Price of the SAR when the SAR is granted, and which may not be less than the Fair Market Value on the date of grant and may be settled in cash or in Shares. 

7.4 Termination. Subject to earlier termination pursuant to Sections 11 and 13.1 hereof and notwithstanding the
exercise periods set forth in the Award Agreement, exercise of SARs will always be subject to the following terms and conditions. 

  
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 7.4.1 Other than Death or Disability or for Cause. If the Participant is Terminated
for any reason other than death, Disability or for Cause, then the Participant may exercise such Participant’s SARs only to the extent that such SARs are exercisable as to Vested Shares upon the Termination Date or as otherwise determined by
the Committee. SARs must be exercised by the Participant, if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date determined by the Committee, within three (3) months after the Termination Date
(or within such shorter time period, not less than thirty (30) days, or within such longer time period after the Termination Date as may be determined by the Committee) but in any event, no later than the expiration date of the SARs. 

7.4.2 Death or Disability. If the Participant is Terminated because of Participant’s death or Disability (or the Participant dies
within three (3) months after a Termination other than for Cause), then Participant’s SARs may be exercised only to the extent that such SARs are exercisable as to Vested Shares by Participant on the Termination Date or as otherwise
determined by the Committee. Such SARs must be exercised by Participant (or Participant’s legal representative or authorized assignee), if at all, as to all or some of the Vested Shares calculated as of the Termination Date or such other date
determined by the Committee, within twelve (12) months after the Termination Date (or within such shorter time period, not less than six (6) months, or within such longer time period after the Termination Date as may be determined by the
Committee) but in any event no later than the expiration date of the SARs. 
 7.4.3 For Cause. If the Participant is terminated for
Cause, the Participant may exercise such Participant’s SARs, but not to an extent greater than such SARs are exercisable as to Vested Shares upon the Termination Date and Participant’s SARs shall expire on such Participant’s
Termination Date, or at such later time and on such conditions as are determined by the Committee. 
 8. PAYMENT FOR PURCHASES
AND EXERCISES. 
 8.1 Payment in General. Payment for Shares acquired pursuant to this Plan may be made in cash
(by check) or, where expressly approved for the Participant by the Committee and where permitted by law: 
 (a) by cancellation of
indebtedness of the Company owed to the Participant; 
 (b) by surrender of shares of the Company that are clear of all liens, claims,
encumbrances or security interests and: (i) for which the Company has received “full payment of the purchase price” within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of a promissory
note, such note has been fully paid with respect to such shares) or (ii) that were obtained by Participant in the public market; 

(c) by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate
sufficient to avoid imputation of income under Sections 483 and 1274 of the Code; provided, however, that Participants who are not employees or directors of the Company will not be entitled to purchase Shares with a
promissory note unless the note is adequately secured by collateral other than the Shares; provided, further, that the portion of the Exercise Price or Purchase Price, as the case may be, equal to the par value (if any)
of the Shares must be paid in cash or other legal consideration permitted by the laws under which the Company is then incorporated or organized; 

  
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 (d) by waiver of compensation due or accrued to the Participant from the Company for
services rendered; 
 (e) by participating in a formal cashless exercise program implemented by the Committee in connection with the Plan;

 (f) subject to compliance with applicable law, provided that a public market for the Company’s Common Stock exists, by exercising
through a “same day sale” commitment from the Participant and a broker-dealer whereby the Participant irrevocably elects to exercise the Award and to sell a portion of the Shares so purchased sufficient to pay the total Exercise Price or
Purchase Price, and whereby the broker-dealer irrevocably commits upon receipt of such Shares to forward the total Exercise Price or Purchase Price directly to the Company; or 

(g) by any combination of the foregoing or any other method of payment approved by the Committee. 

8.2 Withholding Taxes. 

8.2.1 Withholding Generally. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan, the Company may
require the Participant to remit to the Company an amount sufficient to satisfy applicable tax withholding requirements prior to the delivery of any certificate or certificates for such Shares. Whenever, under this Plan, payments in satisfaction of
Awards are to be made in cash by the Company, such payment will be net of an amount sufficient to satisfy applicable tax withholding requirements. 

8.2.2 Stock Withholding. When, under applicable tax laws, a Participant incurs tax liability in connection with the exercise or
vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may in its sole discretion allow the Participant to satisfy the minimum tax withholding
obligation by electing to have the Company withhold from the Shares to be issued up to the minimum number of Shares having a Fair Market Value on the date that the amount of tax to be withheld is to be determined that is not more than the minimum
amount to be withheld; or to arrange a mandatory “sell to cover” on Participant’s behalf (without further authorization) but in no event will the Company withhold Shares or “sell to cover” if such withholding would result in
adverse accounting consequences to the Company. Any elections to have Shares withheld or sold for this purpose will be made in accordance with the requirements established by the Committee for such elections and be in writing in a form acceptable to
the Committee. 
 9. RESTRICTIONS ON AWARDS. 

9.1 Transferability. Except as permitted by the Committee, Awards granted under this Plan, and any interest therein, will
not be transferable or assignable by Participant, other than by will or by the laws of descent and distribution, and, with respect to NQSOs, by instrument to an inter vivos or testamentary trust in which the NQSOs are to be passed to beneficiaries
upon the death of the 

  
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trustor (settlor), or by gift to “family member” as that term is defined in Rule 701, and may not be made subject to execution, attachment or similar process. For the avoidance of
doubt, the prohibition against assignment and transfer applies to a stock option and, prior to exercise , the shares to be issued on exercise of a stock option, and pursuant to the foregoing sentence shall be understood to include, without
limitation, a prohibition against any pledge, hypothecation, or other transfer, including any short position, any “put equivalent position” or any “call equivalent position” (in each case, as defined in Rule 16a-1 promulgated under the Exchange Act). During the lifetime of the Participant an Award will be exercisable only by the Participant or Participant’s legal representative and any elections with
respect to an Award may be made only by the Participant or Participant’s legal representative. The terms of an Option shall be binding upon the executor, administrator, successors and assigns of the Participant who is a party thereto. 

9.2 Securities Law and Other Regulatory Compliance. Although this Plan is intended to be a written compensatory benefit
plan within the meaning of Rule 701 promulgated under the Securities Act, grants may be made pursuant to this Plan that do not qualify for exemption under Rule 701 or Section 25102(o). Any requirement of this Plan which is required in
law only because of Section 25102(o) need not apply with respect to a particular Award to which Section 25102(o) will not apply. An Award will not be effective unless such Award is in compliance with all applicable federal and state
securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of the Award and
also on the date of exercise or other issuance. Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to (a) obtaining any approvals from
governmental agencies that the Company determines are necessary or advisable, and/or (b) compliance with any exemption, completion of any registration or other qualification of such Shares under any state or federal law or ruling of any
governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the SEC or to effect compliance with the exemption, registration, qualification or listing requirements
of any state securities laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure so do. 

9.3 Exchange and Buyout of Awards. The Committee may, at any time or from time to time, authorize the Company, with the
consent of the respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all outstanding Awards. Without prior stockholder approval the Committee may reprice Options or SARs (and where such repricing is a
reduction in the Exercise Price of outstanding Options or SARs, the consent of the affected Participants is not required provided written notice is provided to them). The Committee may at any time buy from a Participant an Award previously granted
with payment in cash, Shares (including Restricted Stock) or other consideration, based on such terms and conditions as the Committee and the Participant may agree. 

10. RESTRICTIONS ON SHARES. 

10.1 Privileges of Stock Ownership. No Participant will have any of the rights of a stockholder with respect to any
Shares until such Shares are issued to the Participant. After Shares are issued to the Participant, the Participant will be a stockholder and have all the rights of a 

  
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stockholder with respect to such Shares, including the right to vote and receive all dividends or other distributions made or paid with respect to such Shares; provided, that if
such Shares are Restricted Stock, then any new, additional or different securities the Participant may become entitled to receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or capital
structure of the Company will be subject to the same restrictions as the Restricted Stock. The Participant will have no right to retain such stock dividends or stock distributions with respect to Unvested Shares that are repurchased as described in
this Section 10. 
 10.2 Rights of First Refusal and Repurchase. At the discretion of the Committee, the Company
may reserve to itself and/or its assignee(s) in the Award Agreement (a) a right of first refusal to purchase all Shares that a Participant (or a subsequent transferee) may propose to transfer to a third party, provided that such
right of first refusal terminates upon the Company’s initial public offering of Common Stock pursuant to an effective registration statement filed under the Securities Act and (b) a right to repurchase Unvested Shares held by a Participant
for cash and/or cancellation of purchase money indebtedness owed to the Company by the Participant following such Participant’s Termination at any time. 

10.3 Escrow; Pledge of Shares. To enforce any restrictions on a Participant’s Shares, the Committee may require the
Participant to deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in
escrow until such restrictions have lapsed or terminated. The Committee may cause a legend or legends referencing such restrictions to be placed on the certificate. Any Participant who is permitted to execute a promissory note as partial or full
consideration for the purchase of Shares under this Plan will be required to pledge and deposit with the Company all or part of the Shares so purchased as collateral to secure the payment of Participant’s obligation to the Company under the
promissory note; provided, however, that the Committee may require or accept other or additional forms of collateral to secure the payment of such obligation and, in any event, the Company will have full recourse against
the Participant under the promissory note notwithstanding any pledge of the Participant’s Shares or other collateral. In connection with any pledge of the Shares, Participant will be required to execute and deliver a written pledge agreement in
such form as the Committee will from time to time approve. The Shares purchased with the promissory note may be released from the pledge on a pro rata basis as the promissory note is paid. 

10.4 Securities Law Restrictions. All certificates for Shares or other securities delivered under this Plan will be
subject to such stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other
requirements of the SEC or any stock exchange or automated quotation system upon which the Shares may be listed or quoted. 
 11.
CORPORATE TRANSACTIONS. 
 11.1 Acquisitions or Other Combinations. In the event that the Company is
subject to an Acquisition or Other Combination, outstanding Awards acquired under the Plan shall be subject to the agreement evidencing the Acquisition or Other Combination, which need not treat all outstanding Awards in an identical manner. Such
agreement, without the Participant’s consent, shall provide for one or more of the following with respect to all outstanding Awards as of the effective date of such Acquisition or Other Combination: 

(a) The continuation of such outstanding Awards by the Company (if the Company is the successor entity). 

  
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 (b) The assumption of outstanding Awards by the successor or acquiring entity (if any) in
such Acquisition or Other Combination (or by any of its Parents, if any), which assumption, will be binding on all Participants; provided that the exercise price and the number and nature of shares issuable upon exercise of any such option or stock
appreciation right, or any award that is subject to Section 409A of the Code, will be adjusted appropriately pursuant to Section 424(a) and Section 409A of the Code. For the purposes of this Section 11, an Award will be
considered assumed if, following the Acquisition or Other Combination, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Acquisition or Other Combination, the consideration (whether
stock, cash, or other securities or property) received in the Acquisition or Other Combination by holders of Shares for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the Acquisition or Other Combination is not solely common stock of the successor corporation or its Parent, the
Committee may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, for each Share subject to such
Award, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the Acquisition or Other Combination. 

(c) The substitution by the successor or acquiring entity in such Acquisition or Other Combination (or by any of its Parents, if any) of
equivalent awards with substantially the same terms for such outstanding Awards (except that the exercise price and the number and nature of shares issuable upon exercise of any such option or stock appreciation right, or any award that is subject
to Section 409A of the Code, will be adjusted appropriately pursuant to Section 424(a) of the Code). 
 (d) The full or partial
exercisability or vesting and accelerated expiration of outstanding Awards. 
 (e) The settlement of the full value of such outstanding
Award (whether or not then vested or exercisable) in cash, cash equivalents, or securities of the successor entity (or its Parent, if any) with a Fair Market Value equal to the required amount, followed by the cancellation of such Awards; provided
however, that such Award may be cancelled without consideration if such Award has no value, as determined by the Committee, in its discretion. Subject to Section 409A of the Code, such payment may be made in installments and may be deferred
until the date or dates when the Award would have become exercisable or vested. Such payment may be subject to vesting based on the Participant’s continued service, provided that without the Participant’s consent, the vesting schedule
shall not be less favorable to the Participant than the schedule under which the Award would have become vested or exercisable. For purposes of this Section 11.1(e), the Fair Market Value of any security shall be determined without regard to
any vesting conditions that may apply to such security. 

  
 -11- 

 (f) The cancellation of outstanding Awards in exchange for no consideration. 

Immediately following an Acquisition or Other Combination, outstanding Awards shall terminate and cease to be outstanding, except to the
extent such Awards, have been continued, assumed or substituted, as described in Sections 11.1(a), (b) and/or (c). 
 11.2
Assumption of Awards by the Company. The Company, from time to time, also may substitute or assume outstanding awards granted by another entity, whether in connection with an acquisition of such other entity or otherwise, by either
(a) granting an Award under this Plan in substitution of such other entity’s award or (b) assuming and/or converting such award as if it had been granted under this Plan if the terms of such assumed award could be applied to an Award
granted under this Plan. Such substitution or assumption will be permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if the other entity had applied the rules of this Plan to
such grant. In the event the Company assumes an award granted by another entity, the terms and conditions of such award will remain unchanged (except that the exercise price and the number and nature of shares issuable upon exercise of any such
option or stock appreciation right, or any award that is subject to Section 409A of the Code, will be adjusted appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option or SAR rather than
assuming an existing option or stock appreciation right, such new Option or SAR may be granted with a similarly adjusted Exercise Price. 

12. ADMINISTRATION. 

12.1 Committee Authority. This Plan will be administered by the Committee or the Board if no Committee is created by the
Board. Subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and carry out this Plan. Without limitation, the Committee will have the authority to: 

(a) construe and interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan; 

(b) prescribe, amend, expand, modify and rescind or terminate rules and regulations relating to this Plan; 

(c) approve persons to receive Awards; 

(d) determine the form and terms of Awards; 

(e) determine the number of Shares or other consideration subject to Awards granted under this Plan; 

  
 -12- 

 (f) determine the Fair Market Value in good faith and interpret the applicable provisions
of this Plan and the definition of Fair Market Value in connection with circumstances that impact the Fair Market Value, if necessary; 

(g) determine whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as alternatives to, other
Awards under this Plan or awards under any other incentive or compensation plan of the Company or any Parent or Subsidiary of the Company; 

(h) grant waivers of any conditions of this Plan or any Award; 

(i) determine the terms of vesting, exercisability and payment of Awards to be granted pursuant to this Plan; 

(j) correct any defect, supply any omission, or reconcile any inconsistency in this Plan, any Award, any Award Agreement, any Exercise
Agreement or any Restricted Stock Purchase Agreement; 
 (k) determine whether an Award has been earned; 

(l) extend the vesting period beyond a Participant’s Termination Date; 

(m) adopt rules and/or procedures (including the adoption of any subplan under this Plan) relating to the operation and administration of the
Plan to accommodate requirements of local law and procedures outside of the United States; 
 (n) delegate any of the foregoing to a
subcommittee consisting of one or more executive officers pursuant to a specific delegation as may otherwise be permitted by applicable law; 

(o) change the vesting schedule of Awards under the Plan prospectively in the event that the Participant’s service status changes
between full and part time status in accordance with Company policies relating to work schedules and vesting of awards; and 
 (p) make all
other determinations necessary or advisable in connection with the administration of this Plan. 
 12.2 Committee Composition
and Discretion. The Board may delegate full administrative authority over the Plan and Awards to a Committee consisting of at least one member of the Board (or such greater number as may then be required by applicable law). Unless in
contravention of any express terms of this Plan or Award, any determination made by the Committee with respect to any Award will be made in its sole discretion either (a) at the time of grant of the Award, or (b) subject to
Section 4.9 hereof, at any later time. Any such determination will be final and binding on the Company and on all persons having an interest in any Award under this Plan. To the extent permitted by applicable law, the Committee may delegate to
one or more officers of the Company the authority to grant an Award under this Plan, provided that each such officer is a member of the Board. 

  
 -13- 

 12.3 Nonexclusivity of the Plan. Neither the adoption of this Plan by
the Board, the submission of this Plan to the stockholders of the Company for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it
may deem desirable, including, without limitation, the granting of stock options and other equity awards otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 

12.4 Governing Law. This Plan and all agreements hereunder shall be governed by and construed in accordance with the laws
of the State of California, without giving effect to that body of laws pertaining to conflict of laws. 
 13. EFFECTIVENESS,
AMENDMENT AND TERMINATION OF THE PLAN. 
 13.1 Adoption and Stockholder Approval. This Plan will become
effective on the date that it is adopted by the Board (the “Effective Date”). This Plan will be approved by the stockholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable laws,
within twelve (12) months before or after the Effective Date. Upon the Effective Date, the Board may grant Awards pursuant to this Plan; provided, however, that: (a) no Option or SAR may be exercised prior to
initial stockholder approval of this Plan; (b) no Option or SAR granted pursuant to an increase in the number of Shares approved by the Board shall be exercised prior to the time such increase has been approved by the stockholders of the
Company; (c) in the event that initial stockholder approval is not obtained within the time period provided herein, all Awards for which only the exemption from California’s securities qualification requirements provided by
Section 25102(o) can apply shall be canceled, any Shares issued pursuant to any such Award shall be canceled and any purchase of such Shares issued hereunder shall be rescinded; and (d) Awards (to which only the exemption from
California’s securities qualification requirements provided by Section 25102(o) can apply) granted pursuant to an increase in the number of Shares approved by the Board which increase is not approved by stockholders within the time then
required under Section 25102(o) shall be canceled, any Shares issued pursuant to any such Awards shall be canceled, and any purchase of Shares subject to any such Award shall be rescinded. 

13.2 Term of Plan. Unless earlier terminated as provided herein, this Plan will automatically terminate ten
(10) years after the later of (i) the Effective Date, or (ii) the most recent increase in the number of Shares reserved under Section 2 that was approved by stockholders. 

13.3 Amendment or Termination of Plan. Subject to Section 4.9 hereof, the Board may at any time (a) terminate
or amend this Plan in any respect, including without limitation amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan and (b) terminate any and all outstanding Options or SARs upon a dissolution or
liquidation of the Company, followed by the payment of creditors and the distribution of any remaining funds to the Company’s stockholders; provided, however, that the Board will not, without the approval of the
stockholders of the Company, amend this Plan in any manner that requires such stockholder approval pursuant to Section 25102(o) or pursuant to the Code or the regulations promulgated under the Code as such provisions apply to ISO plans. The
termination of the Plan, or any amendment thereof, shall not affect any Share previously issued or any Award previously granted under the Plan. 

  
 -14- 

 14. DEFINITIONS. For all purposes of this Plan, the following terms
will have the following meanings. 
 “Acquisition,” for purposes of Section 11, means: 

(a) any consolidation or merger in which the Company is a constituent entity or is a party in which the voting stock and other voting
securities of the Company that are outstanding immediately prior to the consummation of such consolidation or merger represent, or are converted into, securities of the surviving entity of such consolidation or merger (or of any Parent of such
surviving entity) that, immediately after the consummation of such consolidation or merger, together possess less than fifty percent (50%) of the total voting power of all voting securities of such surviving entity (or of any of its Parents, if any)
that are outstanding immediately after the consummation of such consolidation or merger; 
 (b) a sale or other transfer by the holders
thereof of outstanding voting stock and/or other voting securities of the Company possessing more than fifty percent (50%) of the total voting power of all outstanding voting securities of the Company, whether in one transaction or in a series of
related transactions, pursuant to an agreement or agreements to which the Company is a party and that has been approved by the Board, and pursuant to which such outstanding voting securities are sold or transferred to a single person or entity, to
one or more persons or entities who are Affiliates of each other, or to one or more persons or entities acting in concert; or 
 (c) the
sale, lease, transfer or other disposition, in a single transaction or series of related transactions, by the Company and/or any Subsidiary or Subsidiaries of the Company, of all or substantially all the assets of the Company and its Subsidiaries
taken as a whole, (or, if substantially all of the assets of the Company and its Subsidiaries taken as a whole are held by one or more Subsidiaries, the sale or disposition (whether by consolidation, merger, conversion or otherwise) of such
Subsidiaries of the Company), except where such sale, lease, transfer or other disposition is made to the Company or one or more wholly owned Subsidiaries of the Company (an “Acquisition by Sale of Assets”). 

“Affiliate” of a specified person means a person that directly, or indirectly through one or more intermediaries,
controls or is controlled by, or is under common control with, the person specified (where, for purposes of this definition, the term “control” (including the terms controlling, controlled by and
under common control with) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or
otherwise. 
 “Award” means any award pursuant to the terms and conditions of this Plan, including any Option,
Restricted Stock Unit, Stock Appreciation Right or Restricted Stock Award. 
 “Award Agreement” means, with respect
to each Award, the signed written or electronic agreement between the Company and the Participant setting forth the terms and conditions of the Award as approved by the Committee. For purposes of the Plan, the Award Agreement may be executed via
written or electronic means. 

  
 -15- 

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

“Cause” means Termination because of (a) Participant’s unauthorized misuse of the Company or a Parent or
Subsidiary of the Company’s trade secrets or proprietary information, (b) Participant’s conviction of or plea of nolo contendere to a felony or a crime involving moral turpitude, (c) Participant’s committing an act of fraud
against the Company or a Parent or Subsidiary of the Company or (d) Participant’s gross negligence or willful misconduct in the performance of his or her duties that has had or will have a material adverse effect on the Company or Parent
or Subsidiary of the Company’ reputation or business. 
 “Code” means the Internal Revenue Code of 1986, as
amended. 
 “Committee” means the committee created and appointed by the Board to administer this Plan, or if no
committee is created and appointed, the Board. 
 “Company” means Bolt Biotherapeutics, Inc., or any successor
corporation. 
 “Disability” means that the Participant is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months. 

“Exchange Act” means the Securities Exchange Act of 1934 as amended. 

“Exercise Price” means the price per Share at which a holder of an Option may purchase Shares issuable upon exercise
of the Option. 
 “Fair Market Value” means, as of any date, the value of a share of the Company’s Common Stock
determined as follows: 
 (a) if such Common Stock is then publicly traded on a national securities exchange, its closing price on the date
of determination on the principal national securities exchange on which the Common Stock is listed or admitted to trading as reported in The Wall Street Journal; 

(b) if such Common Stock is publicly traded but is not listed or admitted to trading on a national securities exchange, the average of the
closing bid and asked prices on the date of determination as reported by The Wall Street Journal (or, if not so reported, as otherwise reported by any newspaper or other source as the Committee may determine); or 

(c) if none of the foregoing is applicable to the valuation in question, by the Committee in good faith. 

“Option” means an award of an option to purchase Shares pursuant to Section 4 of this Plan. 

“Other Combination” for purposes of Section 11 means any (a) consolidation or merger in which the Company is
a constituent entity and is not the surviving entity of such consolidation or merger or (b) any conversion of the Company into another form of entity; provided that such consolidation, merger or conversion does not constitute an
Acquisition. 

  
 -16- 

 “Parent” of a specified entity means, any entity that, either
directly or indirectly, owns or controls such specified entity, where for this purpose, “control” means the ownership of stock, securities or other interests that possess at least a majority of the voting power of such
specified entity (including indirect ownership or control of such stock, securities or other interests). 

“Participant” means a person who receives an Award under this Plan. 

“Plan” means this 2015 Equity Incentive Plan, as amended from time to time. 

“Purchase Price” means the price at which a Participant may purchase Restricted Stock pursuant to this Plan. 

“Restricted Stock” means Shares purchased pursuant to a Restricted Stock Award under this Plan. 

“Restricted Stock Award” means an award of Shares pursuant to Section 5 hereof. 

“Restricted Stock Unit” or “RSU” means an award made pursuant to Section 6 hereof. 

“Rule 701” means Rule 701 et seq. promulgated by the Commission under the
Securities Act. 
 “SEC” means the Securities and Exchange Commission. 

“Section 25102(o)” means Section 25102(o) of the California Corporations Code.

 “Securities Act” means the Securities Act of 1933, as amended. 

“Shares” means shares of the Company’s Common Stock reserved for issuance under this Plan, as adjusted pursuant
to Sections 2.2 and 11 hereof, and any successor security. 
 “Stock Appreciation Right” or
“SAR” means an award granted pursuant to Section 7 hereof. 
 “Subsidiary” means any
entity (other than the Company) in an unbroken chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain owns stock or other equity securities representing fifty percent (50%) or more of
the total combined voting power of all classes of stock or other equity securities in one of the other entities in such chain. 

“Termination” or “Terminated” means, for purposes of this Plan with respect to a Participant,
that the Participant has for any reason ceased to provide services as an employee, officer, director or consultant to the Company or a Parent or Subsidiary of the Company. A Participant will not be deemed to have ceased to provide services while the
Participant is on a bona fide leave of 

  
 -17- 

 
absence, if such leave was approved by the Company in writing. In the case of an approved leave of absence, the Committee may make such provisions respecting crediting of service, including
suspension of vesting of the Award (including pursuant to a formal policy adopted from time to time by the Company) it may deem appropriate, except that in no event may an Option be exercised after the expiration of the term set forth in the Stock
Option Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide services (the “Termination Date”).

 “Unvested Shares” means “Unvested Shares” as defined in the Award Agreement for an Award.

 “Vested Shares” means “Vested Shares” as defined in the Award Agreement. 

* * * * * * * * * * * 

  
 -18-EX-10.20

 Exhibit 10.20 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE
INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

EXCLUSIVE (EQUITY) AGREEMENT 
 This
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 Bolt Therapeutics (“Bolt”), a
corporation having a principal place of business at 1556 Rubino Court, Pleasanton, CA 94566, is effective on the 18th day of May, 2015 (“Effective Date”). 
  

	1.	 BACKGROUND 

Stanford has an assignment of an invention entitled “[***]” that was invented in the laboratory of [***] and is described in Stanford Docket [***].
The invention was made in the course of research supported by the [***]. Stanford wants to have the invention perfected and marketed as soon as possible so that resulting products may be available for public use and benefit. 

 

	2.	 DEFINITIONS 

  

	2.1.	 “Exclusive” means that, subject to Articles 3 and 5, Stanford will not grant further licenses under
the Licensed Patents in the Licensed Field of Use in the Licensed Territory. 

  

	2.2.	 “Fully Diluted Basis” means the total number of shares of Bolt’s issued and outstanding common
stock, assuming: 

  

	 	(A)	 the conversion of all issued and outstanding securities convertible into common stock; 

 

	 	(B)	 the exercise of all issued and outstanding warrants or options, regardless of whether then exercisable; and

  

	 	(C)	 the issuance, grant, and exercise of all securities reserved for issuance pursuant to any Bolt stock or stock
option plan then in effect. 

  

	2.3.	 “Licensed Field of Use” means all fields. 

 

	2.4.	 “Licensed Patent” means Stanford’s U.S. Patent Application, Serial Number [***], filed [***],
and Stanford’s U.S. Patent Application, Serial Number [***], filed [***], and their utility applications, any foreign patent application corresponding thereto, and any divisional, continuation, or reexamination application, extension, and each
patent that issues or reissues from any of these patent applications. Any claim of an unexpired Licensed Patent is presumed to be valid unless it has been held to be invalid by a final judgment of a court of competent jurisdiction from which no
appeal can be or is taken. Stanford will not file any continuation-in-part (CIP) patent application or patent. BOLT may file CIPs that only name BOLT inventors.

  
  

PAGE 1 OF 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

	2.5.	 “Licensed Product” means a product or part of a product in the Licensed Field of Use the making,
using, importing or selling of which, absent this license, infringes, induces infringement, or contributes to infringement of a Licensed Patent. 

  

	2.6.	 “Licensed Territory” means worldwide. 

 

	2.7.	 “Net Sales” means the invoiced amounts by Bolt, sublicensees or sub-sublicensees for the sale of
Licensed Product. Net Sales excludes [***] and the following items (but only as they pertain to the making, using, importing or selling of Licensed Products, are included in gross revenue, and are separately billed): 

[***]. 
  

	2.8.	 “Nonroyalty Sublicensing Consideration” means [***] received by Bolt from a sublicensee to the
Licensed Patents hereunder but excluding any consideration for: 

 [***]. 

 

	2.9.	 “Stanford Indemnitees” means Stanford and Stanford Hospitals and Clinics, and their respective
trustees, officers, employees, students, agents, faculty, representatives, and volunteers. 

  

	2.10.	 “Sublicense” means any agreement between Bolt and a third party that contains a grant to
Stanford’s Licensed Patents regardless of the name given to the agreement by the parties; however, an agreement to make, have made, use or sell Licensed Products on behalf of Bolt is not considered a Sublicense. 

 

	2.11.	 “Third-tier License” means an agreement between a company with an Exclusive Sublicense and a third
party that includes a grant to the Licensed Patents, regardless of the name given to the agreement. 

  

	3.	 GRANT 

  

	3.1.	 Grant. Subject to the terms and conditions of this Agreement, Stanford grants Bolt a license under the
Licensed Patent in the Licensed Field of Use to make, have made, use, import, offer to sell and sell Licensed Product in the Licensed Territory. 

  

	3.2.	 Exclusivity. The license is Exclusive, including the right to sublicense under Article 4, in the
Licensed Field of Use beginning May 18, 2015 and ending on the last to expire of Licensed Patent. 

  
  

PAGE 2 OF 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

	3.3.	 Retained Rights. Stanford retains the right, on behalf of itself and all other non-profit research institutions, to practice the Licensed Patent for any non-profit purpose, including sponsored research and collaborations. Bolt agrees that,
notwithstanding any other provision of this Agreement, it has no right to enforce the Licensed Patent against any such institution. Stanford and any such other institution have the right to publish any information included in a Licensed Patent. The
delivery of paid or reimbursed healthcare is not considered a non-profit purpose under this Section 3.3. However, Stanford retains the right to practice the Licensed Patent for the delivery of its own
paid or reimbursed healthcare. 

  

	3.4.	 Specific Exclusion. Stanford does not: 

 

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

 

	 	(B)	 commit to Bolt to bring suit against third parties for infringement, except as described in Article 14; and

  

	 	(C)	 agree to furnish to Bolt any technological information or to provide Bolt with any assistance.

  

	4.	 SUBLICENSING 

  

	4.1.	 Permitted Sublicensing. Bolt may grant Sublicenses in the Licensed Field of Use only during the
Exclusive term and [***]. Sublicenses with any exclusivity must include diligence requirements commensurate with the diligence requirements of Appendix A. Stanford agrees that Bolt may apportion without discrimination [***] a commercially reasonable
percentage of sublicensing payments made to Stanford pursuant to Section 4.6, provided however that Bolt provides Stanford with the proposed apportionment and justification prior to Bolt’s payment pursuant to Section 8.1. Stanford and
Bolt agree to meet to discuss such proposed apportionment if in Stanford’s opinion the apportionment does not reasonably reflect the value of the Licensed Patents. 

 

	4.2.	 Required Sublicensing. If Bolt is unable or unwilling to serve or develop a potential market or market
territory for which Stanford has identified a willing sublicensee, that [***], Bolt will, [***], negotiate in good faith a Sublicense with any such sublicensee. Stanford would like licensees to address unmet needs, such as those of neglected patient
populations or geographic areas, giving particular attention to improved therapeutics, diagnostics and agricultural technologies for the developing world. 

  

	4.3.	 Sublicense Requirements. Any Sublicense: 

 

	 	(A)	 is subject to this Agreement; 

 

	 	(B)	 will reflect that any sublicensee will not further sublicense, except that an Exclusive sublicensee may grant
Third-tier Licenses. [***]. Any Third-tier License is subject to the same conditions and provisions per this Agreement as a Sublicense; 

  
  

PAGE 3 OF 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

	 	(C)	 will prohibit sublicensee from paying royalties to an escrow or other similar account; 

 

	 	(D)	 will expressly include the provisions of Articles 8, 9 and 10 for the benefit of Stanford; and

  

	 	(E)	 will include the provisions of Section 4.4 and require the transfer of all the sublicensee’s
obligations to Bolt, including the payment of royalties specified in the Sublicense, to Stanford or its designee, if this Agreement is terminated. If the sublicensee is a spin-out from Bolt, Bolt must
guarantee the sublicensee’s performance with respect to the payment of Stanford’s share of Sublicense royalties. 

  

	4.4.	 Litigation by Sublicensee. Any Sublicense must include the following clauses:

  

	 	(A)	 In the event sublicensee brings an action seeking to invalidate any Licensed Patent: 

 

	 	(1)	 sublicensee will [***] during the pendency of such action. Moreover, should the outcome of such action
determine that any claim of a patent challenged by the sublicensee is both valid and infringed by a Licensed Product, sublicensee will [***] under the original Sublicense; 

 

	 	(2)	 [***]; 

  

	 	(3)	 any dispute regarding the validity of any Licensed Patent shall be litigated in the courts located in [***];
and 

  

	 	(4)	 sublicensee shall not pay royalties into any escrow or other similar account. 

 

	 	(B)	 Sublicensee will provide written notice to Stanford at least [***] prior to bringing an action seeking to
invalidate a Licensed Patent. Sublicensee will include with such written notice [***]. 

  

	4.5.	 Copy of Sublicenses and Sublicensee Royalty Reports. Bolt will submit to Stanford a copy of each
Sublicense, any subsequent amendments and all copies of sublicensees’ royalty reports. Beginning with the first Sublicense, the [***] will certify [***] of sublicensees. 

 

	4.6.	 Sharing of Sublicensing Income. Bolt will pay to Stanford a portion of all Nonroyalty Sublicensing
Consideration for the Sublicense of Licensed Patents, as provided below: 

  
  

PAGE 4 OF 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

	 	(A)	 [***]% of all Nonroyalty Sublicensing Consideration if sublicensed in [***]; 

 

	 	(B)	 [***]% of all Nonroyalty Sublicensing Consideration if sublicensed in [***]; and 

 

	 	(C)	 [***]% of all Nonroyalty Sublicensing Consideration if sublicensed anytime thereafter. 

 

	4.7.	 Royalty-Free Sublicenses. If Bolt pays [***] due Stanford from a sublicensee’s Net Sales, Bolt may
grant that sublicensee a royalty-free or non-cash: 

  

	 	(A)	 Sublicense or 

  

	 	(B)	 cross-license. 

  

	5.	 GOVERNMENT RIGHTS 

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 Licensed Patent. They also impose the obligation that Licensed Product sold or produced in the United States be “manufactured substantially in the United States”, unless
waived according to the United States government process. Bolt will ensure all obligations of these provisions are met. 
  

	6.	 DILIGENCE 

  

	6.1.	 Milestones. Because the invention is not yet commercially viable as of the Effective Date, Bolt will use
commercially reasonable efforts to develop, manufacture, and sell Licensed Product and will use commercially reasonable efforts to develop markets for Licensed Product. In addition, Bolt will meet the milestones shown in Appendix A, and notify
Stanford in writing as each milestone is met. 

  

	6.2.	 Progress Report. By [***] of each year, Bolt will submit a written annual report to Stanford covering
the preceding calendar year. The report will include information sufficient to enable Stanford to satisfy reporting requirements of the U.S. Government and for Stanford to ascertain progress by Bolt toward meeting this Agreement’s diligence
requirements. Each report will describe, where relevant: Bolt’s progress toward commercialization of Licensed Product, including [***]. 

  

	6.3.	 Clinical Trial Notice. Bolt will notify the Stanford University Office of Technology Licensing prior to
commencing any clinical trials at Stanford. 

  

	7.	 ROYALTIES 

  

	7.1.	 Issue Royalty. Bolt will pay to Stanford a noncreditable, nonrefundable license issue royalty of $[***]
upon signing this Agreement. 

  
  

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	7.2.	 Equity Interest. Bolt will grant to Stanford certain number of shares of common stock in Bolt. When
issued, those shares will represent [***] of the stock in Bolt on a Fully Diluted Basis, and this grant of [***] equity in Bolt is only applied to the [***]. This right expires when the [***]. Bolt agrees to provide Stanford with the capitalization
table upon which the above calculation is made. Bolt will issue [***] of all shares granted to Stanford pursuant to this Section 7.2 directly to and in the name of the inventors listed below allocated as stated below: 

[***] 
  

	7.3.	 Section 7.3 is set forth in Appendix D of this Agreement. 

 

	7.4.	 Section 7.4 is set forth in Appendix D of this Agreement. 

 

	7.5.	 Section 7.5 is set forth in Appendix D of this Agreement. 

 

	7.6.	 License Maintenance Fee. Beginning [***], 2016 and each [***] thereafter, Bolt will pay Stanford a
yearly license maintenance fee as follows: 

  

	 	(A)	 [***] on [***], 2016, [***], 2017 and [***], 2018; 

 

	 	(B)	 [***] each [***] thereafter until the [***]; and 

 

	 	(C)	 [***] each [***] after the [***]. 

Yearly maintenance payments are nonrefundable, but they are creditable against the Earned Royalty in Section 7.11. 

 

	7.7.	 Milestone Payments. Bolt will pay Stanford the following milestone payments, whether the milestones are
achieved by Bolt or a sublicensee: 

  

	 	(A)	 [***] upon [***]; 

  

	 	(B)	 [***] on [***]; 

  

	 	(C)	 [***] on the [***]; and 

 

	 	(D)	 $200,000 for each additional Licensed Product [***]. 

 

	7.8.	 Earned Royalty. Bolt will pay Stanford earned royalties (Y%) on Net Sales as follows:

  

	 	(A)	 [***]% for the [***] in Net Sales of a Licensed Product per annum; 

 

	 	(B)	 [***]% for the [***] in Net Sales of a Licensed Product per annum; 

 

	 	(C)	 [***]% for the [***] in Net Sales of a Licensed Product per annum; and 

 

	 	(D)	 [***]% for all Net Sales [***] per annum. 

  
  

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	7.9.	 Royalty Stacking. In the event that Bolt incurs royalty obligations to any third party in order to make,
have made, use or sell a Licensed Product within the Licensed Field Of Use, Bolt will be entitled to set off [***] on Net Sales earned royalties at a rate [***] that Licensee pays to third parties, provided [***]. Beginning with the first offset,
the [***] will certify [***]. 

  

	7.10.	 Earned Royalty if Bolt Challenges the Patent. Notwithstanding the above, should Bolt bring an action
seeking to invalidate any Licensed Patent, Bolt will pay royalties to Stanford [***]. Moreover, should the outcome of such action determine that any claim of a Licensed Patent challenged by Bolt is both valid and infringed by a Licensed Product,
Bolt will pay royalties [***]. 

  

	7.11.	 Creditable Payments. The license maintenance fee for a year may be offset against earned royalty
payments due on Net Sales occurring in that year. 

 For example: 

 

	 	(A)	 if Bolt pays Stanford a $10 maintenance payment for year X, and according to Section 7.8 $15 in earned
royalties are due Stanford for Net Sales in year X, Bolt will only need to pay Stanford an additional $5 for that year’s earned royalties. 

  

	 	(B)	 if Bolt pays Stanford a $10 maintenance payment for year X, and according to Section 7.8 $3 in earned
royalties are due Stanford for Net Sales in year X, Bolt will not need to pay Stanford any earned royalty payment for that year. Bolt will not be able to offset the remaining $7 against a future year’s earned royalties. 

 

	7.12.	 Obligation to Pay Royalties. A royalty is due Stanford under this Agreement for any activity conducted
under the licenses granted. For convenience’s sake, the amount of that royalty is calculated using Net Sales. Nonetheless, if certain Licensed Products are made, used, imported, or offered for sale before the date this Agreement terminates, and
those Licensed Products are sold after the termination date, Bolt will pay Stanford an earned royalty for its exercise of rights based on the Net Sales of those Licensed Products. 

 

	7.13.	 No Escrow. Bolt shall not pay royalties into any escrow or other similar account. 

 

	7.14.	 Currency. Bolt will calculate the royalty on sales in currencies other than U.S. Dollars using the
appropriate foreign exchange rate for the currency quoted by the Wall Street Journal on the close of business on the last banking day of each calendar quarter. Bolt will make royalty payments to Stanford in U.S. Dollars. 

 

	7.15.	 Non-U.S. Taxes. Bolt will pay all
non-U.S. taxes related to royalty payments. These payments are not deductible from any payments due to Stanford. 

  

	7.16.	 Interest. Any payments not made when due will bear interest at [***]. 

  
  

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	8.	 ROYALTY REPORTS, PAYMENTS, AND ACCOUNTING 

 

	8.1.	 Quarterly Earned Royalty Payment and Report. Beginning with the first sale of a Licensed Product by Bolt
or a sublicensee, Bolt will submit to Stanford a written report (even if there are no sales) and an earned royalty payment within [***] after the end of each calendar [***]. This report will be in the form of Appendix B and will state [***]. With
each report, Bolt will include any earned royalty payment due Stanford for the completed calendar quarter (as calculated under Section 7.8). 

  

	8.2.	 No Refund. [***]. 

 

	8.3.	 Termination Report. Bolt will pay to Stanford all applicable royalties and submit to Stanford a written
report within [***] after the license terminates. Bolt will continue to submit earned royalty payments and reports to Stanford after the license terminates, until all Licensed Products made or imported under the license have been sold.

  

	8.4.	 Accounting. Bolt will maintain records showing manufacture, importation, sale, and use of a Licensed
Product for [***] from the date of sale of that Licensed Product. Records will include general-ledger records showing cash receipts and expenses, and records that include: [***] to enable Stanford to determine the royalties payable under this
Agreement. 

  

	8.5.	 Audit by Stanford. Bolt will allow Stanford or its designee to examine Bolt’s records to verify
payments made by Bolt under this Agreement. 

  

	8.6.	 Paying for Audit. Stanford will pay for any audit done under Section 8.5. But if the audit reveals
an underreporting of earned royalties due Stanford of [***] for the period being audited, Bolt will pay the audit costs. 

  

	8.7.	 Self-audit. Bolt will conduct an independent audit of [***] at least [***]. The audit will address, at a
minimum, [***]. Bolt will [***]. Bolt will [***]. 

  

	9.	 EXCLUSIONS AND NEGATION OF WARRANTIES 

 

	9.1.	 Negation of Warranties. Stanford provides Bolt the rights granted in this Agreement AS IS and WITH ALL
FAULTS. Stanford has the power and authority to grant license under said Licensed Patents, and it shall not grant any rights or license to the Licensed Patents that are inconsistent with the rights and licenses granted to Bolt in this Agreement.
Except for the foregoing, 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. 

 

  
  

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

  

	 	(A)	 the validity or scope of any Licensed Patent; or 

 

	 	(B)	 that the exploitation of Licensed Patent will be successful. 

 

	10.	 INDEMNITY 

  

	10.1.	 Indemnification. Bolt will indemnify, hold harmless, and defend all Stanford Indemnitees against any
claim of any kind arising out of or related to [***]. 

  

	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. 

 

	10.3.	 Workers’ Compensation. Bolt 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 and while Bolt is engaged in using or making Licensed
Product, Bolt will maintain Comprehensive General Liability Insurance, including Product Liability Insurance, with a reputable and financially secure insurance carrier to cover the activities of Bolt. Bolt shall [***]. The insurance will provide
minimum limits of liability of [***] and will [***]. Insurance must [***]. Within [***] of the Effective Date of this Agreement, Bolt will furnish a Certificate of Insurance evidencing primary coverage and [***]. Bolt will provide to Stanford [***]
prior written notice of cancellation or material change to this insurance coverage. Bolt will advise Stanford in writing that [***] for at least the minimum limits set forth above. All insurance of Bolt will be primary coverage; [***].

  

	11.	 EXPORT 

Bolt and its affiliates and sublicensees shall comply with all United States laws and regulations controlling the export of licensed commodities and technical
data. (For the purpose of this paragraph, “licensed commodities” means any article, material or supply but does not include information; and “technical data” means tangible or intangible technical information that is subject to
U.S. export regulations, including blueprints, plans, diagrams, models, formulae, tables, engineering designs and specifications, manuals and instructions.) These laws and regulations may include, but are not limited to, the Export Administration
Regulations (15 CFR 730-774), the International Traffic in Arms Regulations (22 CFR 120-130) and the various economic sanctions regulations administered by the U.S.
Department of the Treasury (31 CFR 500-600). 

  
  

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 Among other things, these laws and regulations prohibit or require a license for the export or retransfer of
certain commodities and technical data to specified countries, entities and persons. Bolt hereby gives written assurance that it will comply with, and will cause its affiliates and sublicensees to comply with all United States export control laws
and regulations, that it bears sole responsibility for any violation of such laws and regulations by itself or its affiliates or sublicensees, and that it will indemnify, defend and hold Stanford harmless for the consequences of any such violation.

  

	12.	 MARKING 

Before any Licensed Patent issues, Bolt will mark or virtually mark Licensed Product with the words “Patent Pending.” Otherwise, Bolt will mark
Licensed Product with the number of any issued Licensed Patent. 
  

	13.	 STANFORD NAMES AND MARKS 

Bolt will not use (i) Stanford’s name or other trademarks, (ii) the name or trademarks of any organization related to Stanford, or
(iii) the name of any Stanford faculty member, employee, student or volunteer without the prior written consent of Stanford. Permission may be withheld [***]. 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. 
  

	14.	 PROSECUTION AND PROTECTION OF PATENTS 

 

	14.1.	 Patent Prosecution. 

 

	 	(A)	 Following the Effective Date and subject to Stanford’s approval, Bolt will be responsible for preparing,
filing and prosecuting broad patent claims (including any interference or reexamination actions) for Stanford’s benefit in the Licensed Territory and for maintaining all Licensed Patents. Bolt will use its best efforts with respect to the
Patent Matters and in doing so will act in good faith irrespective of other patents, patent applications, or other rights that Bolt may possess. Bolt will [***]. To aid Bolt in this process, Stanford will provide information and data, execute and
deliver documents and do other acts as Bolt shall reasonably request from time to time. If Stanford at any time believes that the Bolt has failed to satisfy the standards of this Section 14.1(A), it may, upon [***] notice, terminate this
Section 14.1(A). 

  

	 	(B)	 Bolt will reimburse Stanford for Stanford’s reasonable costs incurred in complying with such requests.
Stanford and Bolt agree that [***]. At Stanford’s request, Bolt will provide [***]. If Stanford has terminated Section 14.1(A), [***]. 

  
  

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	14.2.	 Patent Costs. Within [***] after receiving a statement from Stanford, Bolt will reimburse Stanford for
all of Licensed Patent’s patenting expenses, including any interference or reexamination matters, incurred by Stanford after the Effective Date. In all instances, Stanford will pay the fees [***] to the United States Patent and Trademark
Office, unless Bolt [***]. 

  

	14.3.	 Infringement Procedure. Bolt and Stanford will promptly notify each other if one of the parties believes
a third party infringes a Licensed Patent or if a third party flies a declaratory judgment action with respect to any Licensed Patent. During the Exclusive term of this Agreement and if Bolt is developing Licensed Product, Bolt may have the right to
institute a suit against or defend any declaratory judgment action initiated by this third party as provided in Section 14.4 through and including Section 14.8. 

 

	14.4.	 Bolt Suit. Bolt has the first right to institute suit, and prosecute a suit or defend any declaratory
judgment action so long as it conforms with the requirements of this Section and Bolt is developing or selling Licensed Product. Bolt will pursue the suit and Bolt will bear the entire cost of the litigation, including expenses and counsel incurred
by Stanford. Bolt will keep Stanford reasonably apprised of all developments in the suit, and will seek Stanford’s input and [***] on any substantive submissions of positions taken in the litigation regarding the scope, validity and
enforceability of the Licensed Patents. Bolt will not prosecute, settle or otherwise compromise any such suit in a manner that adversely affects Stanford’s interests without Stanford’s prior written consent. Stanford may be named as a
party only if [***]. 

  

	14.5.	 Joint Suit. If [***], they may institute suit or defend the declaratory judgment action jointly. If so,
they will: 

  

	 	(A)	 prosecute the suit in both their names; 

 

	 	(B)	 bear the out-of-pocket costs
equally; 

  

	 	(C)	 share any recovery or settlement equally; and 

 

	 	(D)	 agree how they will exercise control over the action. 

 

	14.6.	 Stanford Suit. If neither Section 14.4 nor 14.5 apply, Stanford may institute suit, and may [***].
If Stanford decides to institute suit, it will notify Bolt in writing. If Bolt does not notify Stanford in writing that it desires to jointly prosecute the suit within [***] after the date of the notice, Bolt will [***]. 

 

	14.7.	 Recovery. If Bolt sues under Section 14.4, then any recovery in excess of any unrecovered
litigation costs and fees will be shared with Stanford as follows: 

 [***]. 

  
  

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	14.8.	 Abandonment of Suit. If either Stanford or Bolt commences a suit and then wants to abandon the suit, it
will give timely notice to the other party. The other party may continue prosecution of the suit after Stanford and Bolt agree on the sharing of expenses and any recovery in the suit. 

 

	15.	 TERMINATION 

  

	15.1.	 Termination by Bolt. Bolt may terminate this Agreement by giving Stanford written notice at least 30
days in advance of the effective date of termination selected by Bolt. 

  

	15.2.	 Termination by Stanford. 

 

	 	(A)	 Stanford may also terminate this Agreement if Bolt: 

 

	 	(1)	 is materially delinquent on any report or undisputed payment; 

 

	 	(2)	 is not diligently developing and commercializing Licensed Product; 

 

	 	(3)	 misses a milestone described in Appendix A; 

 

	 	(4)	 is in breach of any material provision; or 

 

	 	(5)	 provides any materially false report. 

 

	 	(B)	 Termination under this Section 15.2 will take effect 60 days after written notice by Stanford unless Bolt
remedies the problem in that 60-day period. Bolt may request one extension of [***] for any milestone in Appendix A, not to exceed a total of [***] extensions. In addition, Bolt may purchase up to [***]
extensions for [***] each. The total extensions may not exceed [***] extensions. 

  

	15.3.	 Surviving Provisions. Surviving any termination or expiration are: 

 

	 	(A)	 Bolt’s obligation to pay royalties accrued or accruable; 

 

	 	(B)	 any claim of Bolt or Stanford, accrued or to accrue, because of any breach or default by the other party; and

  

	 	(C)	 the provisions of Articles 8, 9, and 10 and any other provision that by its nature is intended to survive.

  

	16.	 ASSIGNMENT 

  

	16.1.	 Permitted Assignment by Bolt. Subject to Section 16.3, Bolt may assign this Agreement as part of a
sale or change of control, regardless of whether such a sale or change of control occurs through an asset sale, stock sale, merger or other combination, or any other transfer of: 

  
  

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	 	(A)	 Bolt’s entire business; or 

 

	 	(B)	 that part of Bolt’s business that exercises all rights granted under this Agreement.

  

	16.2.	 Any Other Assignment by Bolt. Any other attempt to assign this Agreement by Bolt is null and void.

  

	16.3.	 Conditions of Assignment. Prior to any assignment, the following conditions must be met:

  

	 	(A)	 Bolt must give Stanford [***] prior written notice of the assignment, [***]; and 

 

	 	(B)	 the new assignee must agree in writing to Stanford to be bound by this Agreement; and 

 

	 	(C)	 Stanford must have received [***]. 

 

	 	(D)	 Stanford must keep the assignment confidential until after the execution of the assignment agreement and a
public notification by Bolt. 

  

	16.4.	 After the Assignment. Upon a permitted assignment of this Agreement pursuant to Article 16, Bolt will be
released of liability under this Agreement and the term “Bolt” in this Agreement will mean the assignee. 

  

	16.5.	 Bankruptcy. In the event of a bankruptcy, assignment is permitted only to a party that can provide
adequate assurance of future performance, including diligent development and sales, of Licensed Product. 

  

	17.	 DISPUTE RESOLUTION 

 

	17.1.	 Dispute Resolution by Arbitration. Any dispute between the parties regarding any payments made or due
under this Agreement will be settled by arbitration in accordance with the [***]. The parties are not obligated to settle any other dispute that may arise under this Agreement by arbitration. 

 

	17.2.	 Request for Arbitration. Either party may request such arbitration. Stanford and Bolt will mutually
agree in writing on a third party arbitrator within [***] of the arbitration request. The arbitrator’s decision will be final and nonappealable and may be entered in any court having jurisdiction. 

 

	17.3.	 Discovery. The parties will be entitled to discovery [***]. 

 

	17.4.	 Place of Arbitration. The arbitration will be held in [***] unless the parties mutually agree in writing
to another place. 

  
  

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	17.5.	 Patent Validity. Any dispute regarding the validity of any Licensed Patent shall be litigated in the
courts located in [***], and the parties [***]. 

  

	18.	 NOTICES 

  

	18.1.	 Legal Action. Bolt will provide [***]. Bolt will include [***]. 

 

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

 All general notices to Bolt are mailed or emailed to: 

[***] 
 All financial invoices to
Bolt (i.e., accounting contact) are e-mailed to: 
 [***] 

All progress report invoices to Bolt (i.e., technical contact) are e-mailed to: 

[***] 
 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 

[***] 
 All progress reports to
Stanford are e-mailed or mailed to: 
 Office of Technology Licensing 

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

	19.	 MISCELLANEOUS 

 

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

  
  

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	19.2.	 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. 

  

	19.3.	 Entire Agreement. The parties have read this Agreement and agree to be bound by its terms, and further
agree that it constitutes the complete and entire agreement of the parties and supersedes all previous communications, oral or written, and all other communications between them relating to the license and to the subject hereof. This Agreement may
not be amended except by writing executed by authorized representatives of both parties. No representations or statements of any kind made by either party, which are not expressly stated herein, will be binding on such party. 

 

	19.4.	 Exclusive Forum. The state and federal courts having jurisdiction over [***], provide the exclusive
forum for any court action between the parties relating to this Agreement. [***]. 

  

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

 

	19.6.	 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. 

  
  

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

			
	THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY
		
	By:	 	 /s/ Katherine Ku

	Name:	 	Katherine Ku
	Title:	 	Executive Director, Technology Licensing
	Date:	 	June 1, 2015
	
	BOLT THERAPEUTICS
		
	By:	 	 /s/ Chih-Ping Lu

	Name:	 	Chih-Ping Lu
	Title:	 	President
	Date:	 	June 1, 2015

  
  

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 Appendix A - Milestones 

[***] 

  
  

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 Appendix B — Sample Reporting Form 

[***] 

  
  

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 Appendix C — [***] 

[***] 

  
  

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 Appendix D — Equity Purchase Rights 

 

	7.3	 [***] Purchase Right. In any private offering of Bolt’s equity securities (or securities
convertible into or exercisable for Bolt’s equity securities) for cash (or in satisfaction of debt issued for cash) having its final closing held on or after the date of this Agreement, Stanford may purchase for cash up to [***] of the
securities issued in such offering. This right will expire following the first round of bona fide equity investment in Bolt [***]. For the avoidance of doubt, any securities Stanford may acquire or have the right to acquire under Section 7.2
shall not reduce the number of securities Stanford may purchase under this Section 7.3. 

  

	7.4	 Future Offerings; Limitation on Right to Purchase. In any private offering of Bolt’s equity
securities [***], Stanford may purchase [***]on a Fully-Diluted Basis. For the avoidance of doubt: (i) [***]; (ii) [***]; and (iii) [***]. 

  

	7.5	 Purchase Terms and Procedures; Financial Information; Notices. 

 

	 	(A)	 In any offering subject to Section 7.3 or 7.4: 

 

	 	(1)	 Bolt will give Stanford notice of the terms of the offering, including: [***]; 

 

	 	(2)	 Stanford’s purchase right shall be on the same terms as the other investors in such offering, except that
Stanford shall [***]; 

  

	 	(3)	 Stanford may elect to exercise its right of purchase, in whole or in part, by notice given to Bolt within [***]
after receipt of Bolt’s notice; and 

  

	 	(4)	 If Stanford elects not to purchase, or fails to give an election notice within such period, Stanford’s
purchase right will not apply to the offering if [***]. 

  

	 	(B)	 If there is a conflict between the terms of this Agreement and those of any Bolt investor rights or similar
agreement to which Stanford is a party, this Agreement will prevail. 

  

	 	(C)	 Stanford’s rights under Sections 7.3 and 7.4 will not apply to the issuance of stock: (i) to
employees and other service providers pursuant to a plan approved by Bolt’s Board of Directors; or (ii) as additional consideration in lending or leasing transactions. 

 

	 	(D)	 In the, event of the closing of a firm commitment underwritten public offering of Bolt’s common stock, the
rights granted in Sections 7.3 and 7.4 will terminate (in addition to any earlier termination pursuant to their terms) immediately before such closing. 

  
  

PAGE 20 OF 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

	 	(E)	 Bolt shall furnish to Stanford, [***]. 

 

	 	(F)	 Notwithstanding any notice provision in this Agreement to the contrary, any notice given under this Agreement
that refers or relates to any of Section 7.2 through and including Section 7.5 shall be copied concurrently to [***]; provided, however, that delivery of the copy will not by itself constitute notice for any purpose under this Agreement.

  
  

PAGE 21 OF 21 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

 Amendment No. 1 to the 

License Agreement Effective May 18th, 2015 

between Stanford University 
 And

 Bolt Therapeutics 
 Effective
as of August 2nd, 2016, 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 BOLT THERAPEUTICS (“Bolt”), a
company having a primary place of business at 1556 Rubino Court, Pleasanton, CA 94566, agree as follows: 
  

	 	1	 BACKGROUND 

Stanford and Bolt are parties to a License Agreement effective as of May 18th, 2015 (“Original Agreement”) covering 1 invention
entitled “[***]” (Stanford Docket [***]). Stanford and Bolt wish to amend the Original Agreement to add Stanford Docket [***] entitled “[***]” as stated in this Amendment No. 1. 

 

	 	2	 AMENDMENT 

  

	 	(A)	 Background. Background section is hereby amended and restated in its entirety as follows:

 “Stanford has an assignment of the following 2 inventions for therapeutic applications invented in the laboratory of [***]: 

 

	 	•	 	 “[***]” (Stanford Docket [***]); and 

 

	 	•	 	 “[***]” (Stanford Docket [***]); 

The invention described in Stanford Docket [***] was made in the course of research supported by the [***]. Stanford wants to have the inventions perfected and
marketed as soon as possible so that resulting products may be available for public use and benefit.” 
  

	 	(B)	 Section 2.4. Section 2.4 is hereby amended and restated in its entirety as
follows: 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

 “2.4 “Licensed Patent” means the following Stanford’s U.S. Patent Applications:
Serial Number [***], filed [***]; Serial Number [***], filed [***]; Serial Number [***], filed [***]; and Serial Number [***], filed [***]; and their utility applications, any foreign patent application corresponding thereto, and any divisional,
continuation, or reexamination application, extension, and each patent that issues or reissues from any of these patent applications. Any claim of an unexpired Licensed Patent is presumed to be valid unless it has been held to be invalid by a final
judgment of a court of competent jurisdiction from which no appeal can be or is taken. Stanford will not file any continuation-in-part (CIP) patent application or
patent. Bolt may file CIPs that only name Bolt inventors.” 
  

	 	(C)	 Section 7.6 (B). Section 7.6 (B) is hereby amended and restated in its entirety
as follows: 

 “(B) [***] each [***] thereafter until the [***]; and” 

 

	 	3	 OTHER TERMS 

  

	 	(A)	 All other terms of the Original Agreement remain in full force and effect. 

THIS SPACE IS INTENTIALLY LEFT BLANK 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

	 	(B)	 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. 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 1 in duplicate originals 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 Aug 4, 2016
	
	BOLT THERAPEUTICS INC.
		
	Signature	 	 /s/ Reiner Laus

	Name Reiner Laus
	Title President & CEO
	Date Aug 3, 2016

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

 AMENDMENT No. 2 

TO THE 
 EXCLUSIVE
(EQUITY) AGREEMENT EFFECTIVE THE 18TH DAY OF MAY 2015 
 BETWEEN 

STANFORD UNIVERSITY 

AND 
 BOLT
BIOTHERAPEUTICS, INC. 
 (f/k/a BOLT THERAPEUTICS) 

Effective the 25th day of June 2018, 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 BOLT BIOTHERAPEUTICS, INC. (“Bolt”), a corporation having a principal place of business at 640 Galveston Drive, Redwood City, CA 94063, agree as follows: 

 

	1.	 BACKGROUND 

  

	1.1	 Stanford and Bolt are parties to an Exclusive (Equity) Agreement effective the 18th day of May, 2015
(“Original Agreement”) covering an invention from the laboratory of Dr. Edgar Engleman. 

  

	1.2	 The Original Agreement was amended by an Amendment No 1 effective August 2nd, 2016 (“Amended Original Agreement”). 

  

	1.3	 Stanford and Bolt wish to amend the Amended Original Agreement to cover another invention.

  

	2.	 AMENDMENT 

  

	2.1	 The Background section of the Amended Original Agreement is hereby amended as follows: 

“Stanford has an assignment of the following three inventions for therapeutic applications invented in the laboratory of [***] at
Stanford, and for Dockets [***] and [***], at Stanford and by researchers at Bolt: 
  

	 	•	 	 “[***]” (Stanford Docket [***]); 

 

	 	•	 	 “[***]” (Stanford Docket [***]); and 

 

	 	•	 	 “[***]” (Stanford Docket [***]). 

  
  

PAGE 1 OF 3 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

 The invention described in Stanford Docket [***] was made in the course of research supported
by the [***]. Stanford wants to have the inventions perfected and marketed as soon as possible so that resulting products may be available for public use and benefit.” 
  

	2.2	 Section 2.4 of the Amended Original Agreement is hereby deleted in its entirety and replaced with the
following: 

 “2.4 “Licensed Patent” means the following: Stanford’s U.S. Patent
Applications, Serial Number [***], filed [***]; Serial Number [***], filed [***]; Serial Number [***], filed [***]; Serial Number [***], filed [***]; Serial Number [***], filed [***]; Serial Number [***], filed [***] (which is jointly owned by
Stanford and Bolt); Serial Number [***], filed [***] (which is jointly owned by Stanford and Bolt); and Serial Number [***], filed [***] (which is jointly owned by Stanford and Bolt); and their utility applications, any foreign patent application
corresponding thereto, and any divisional, continuation, or reexamination application, extension, and each patent that issues or reissues from any of these patent applications. Any claim of an unexpired Licensed Patent is presumed to be valid unless
it has been held to be invalid by a final judgment of a court of competent jurisdiction from which no appeal can be or is taken. Stanford will not file any
continuation-in-part (CIP) patent application or patent. Bolt may file CIP’s that only name Bolt inventors.” 

 

	3.	 OTHER TERMS 

  

	3.1	 All other terms of the Amended Original Agreement remain in full force and effect. 

 

	3.2	 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. 

 CONTINUED ON NEXT PAGE 

  
  

PAGE 2 OF 3 

 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENTS, MARKED BY [***], HAS BEEN OMITTED BECAUSE
BOLT BIOTHERAPEUTICS, INC. HAS DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO BOLT BIOTHERAPEUTICS, INC. IF PUBLICLY DISCLOSED. 

 

 The parties execute this Amendment No 2 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:	 	Jul 2, 2018
	
	BOLT BIOTHERAPEUTICS, INC.
			
		 	Signature:	 	 /s/ Grant Yonehiro

		 	Name:	 	Grant Yonehiro
		 	Title:	 	Chief Business Officer
		 	Date:	 	Jul 1, 2018

  
  

PAGE 3 OF 3

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