Document:

EX-10.16

 Exhibit 10.16 

CONSULTING AGREEMENT 

THIS AGREEMENT effective as of July 1, 2016 (the “Effective Date”), by and between RaNA Therapeutics, Inc., a Delaware limited
liability company (the “Company”) with a primary address of 200 Sidney Street, Cambridge, MA 02139, and Owen Hughes (“Consultant”) with a primary address of 31 Candy Hill Lane Sudbury MA 01776. 

W I T N E S S E T H: 

WHEREAS, the Company wishes Consultant to become a member of RaNA’s Board of Directors; and 

WHEREAS, Consultant is willing to perform such services for the consideration and on the terms set forth in this Agreement; 

NOW, THEREFORE, in consideration of the premises and the mutual promises set forth below, the parties agree as follows: 

1. Scope of Work. 
 Consultant shall
perform the work described in Exhibit A attached hereto (the “Work”). Consultant shall perform the Work under the direction of such person(s) as the Company may designate. During the term of this Agreement, Consultant shall use his
best efforts in performing the Work. 
 2. Compensation. 

(a) In full consideration of Consultant’s satisfactory performance of the Work under this Agreement, the Company shall pay Consultant fees
in accordance with the schedule therefor in Exhibit A. 
 (b) The Company shall reimburse Consultant for all reasonable out-of-pocket expenses incurred in performance of his duties hereunder and approved in advance by the Company. 

3. Consultant’s Representations, Warranties and Covenants. 

(a) Consultant shall recognize and avoid any situation that might involve a conflict of interests. Company acknowledges that Consultant is an
employee of Intarcia Therapeutics, Inc. 
 (b) Consultant represents and warrants that he is authorized to enter into and perform this
Agreement. 
 (c) Consultant represents that he has not been (a) debarred, convicted, and is not subject to a pending debarment or
conviction, pursuant to Section 306 of the United States Food Drug and Cosmetic Act, 21 U.S.C. § 335a, (b) listed by any government or regulatory agencies as ineligible to participate in any government healthcare programs or
government procurement or non-procurement programs (as that term is defined in 42 U.S.C. 1320a-7b(f)), or excluded, debarred, suspended or otherwise made ineligible to
participate in any such program, or (c) convicted of a criminal offense related to the provision of healthcare items or services, or is subject to any such pending action. Consultant agrees to promptly inform Company in writing if Consultant is
subject to the foregoing, or if any action, suit, claim, investigation, or proceeding relating to the foregoing is pending, or to the best of Consultant’s knowledge, is threatened. 

 CONSULTING AGREEMENT 

 

 (d) Consultant represents and warrants that no information to be disclosed to the Company in
performance of this Agreement was or shall be acquired by Consultant (i) pursuant to any relationship in which Consultant was obligated to hold such information in confidence for the benefit of any third party or (ii) by any unlawful or
otherwise improper means. 
 4. Rights in Intellectual Property. 

(a) Consultant agrees that all discoveries, developments, inventions, ideas, concepts, research and other information, processes, products,
methods and improvements or parts thereof (including, without limitation, all chemicals, compounds, biological materials, cell lines, organisms, biological materials, computer programs, software, source code, object code, flow charts, schematics,
algorithms, designs, specifications, product plans or definitions, research data or results, web page designs and media designs), whether or not patentable or subject to copyright protection or other forms of proprietary protection, however
denominated, and whether or not reduced to tangible form, memorialized or reduced to practice, that are written, conceived, developed, reduced to practice or otherwise made by Consultant, whether alone or jointly with others, in the course of,
relating to or arising out of any of the Work or use of any Confidential Information or any Materials by or on behalf of Consultant (along with any and all copyrights, patent rights, trademarks and other proprietary rights arising therefrom or
attributable thereto, however denominated, hereinafter collectively referred to as the “Developments”) shall be the sole property of the Company. Consultant further agrees that the originals and all copies of all notebooks, disks, tapes,
computer programs, reports, proposals and other documents and materials evidencing, incorporating, constituting, representing, memorializing, embodying, capable of performing or displaying, or recording any Development or Confidential Information or
Materials or of any other information or materials furnished to Consultant by the Company, however and whenever produced (whether by Consultant or others), shall be the sole property of the Company. 

(b) Consultant agrees that all of the Developments, including, without limitation, all parts thereof, and any memorialization thereof by
electronic or manual storage, transcription, or recording, and any display, performance or modification thereof or derivative work based thereon, is work made for hire under the copyright laws of the United States especially ordered and commissioned
by the Company. The Company shall be deemed the sole author, creator, and inventor, as the case may be, of the Developments. 
 (c)
Consultant hereby assigns and, to the extent any such assignment cannot be made at present, Consultant hereby agrees to assign to the Company all of his right, title and interest throughout the world in all Developments and to anything tangible
which evidences, incorporates, constitutes, represents, memorializes, embodies, performs, displays or records any such Development. Consultant hereby assigns and, to the extent any such assignment cannot be made at present, Consultant hereby agrees
to assign to the Company all copyrights, patents, trademarks and other proprietary rights, however denominated, Consultant may have in any such Developments, together with the right to file for or own wholly without restriction United States and
foreign copyrights, patents, trademarks and other proprietary rights, however denominated, with respect thereto. Consultant agrees to waive, and hereby waives, all moral rights which Consultant may have in or to any Developments and, to the extent
that such rights may not be waived, Consultant agrees not to assert such rights against the Company, its licensees, customers or partners. 

  
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 CONSULTING AGREEMENT 

 

 (d) Consultant specifically agrees and acknowledges that the foregoing assignment covers all
results, outputs and products of his Work for the Company prior to the date hereof, in any capacity and all related copyrights, patents, trademarks or other proprietary rights, however denominated, and that all such results, outputs and products
shall be Developments hereunder and the sole property of the Company. 
 (e) Consultant hereby undertakes, (i) promptly to disclose all
Developments to the Company; (ii) to assist the Company in every reasonable manner to obtain thereon patents, trademarks, copyrights, and other forms of proprietary protections, however denominated, in any and all countries for the
Company’s benefit; (iii) to execute all such patent and trademark applications, patent, trademark or copyright assignments, registrations and applicants that may be required for other forms of proprietary protection, however denominated,
and other lawful documents, and to take all such other actions, as the Company may request to obtain for the Company all right, title and interest in and to any of the Developments or otherwise to carry out the purposes of this Agreement. If the
Company is unable, after reasonable effort, to secure Consultant’s signature on any such documents, Consultant hereby irrevocably designates and appoints each officer of the Company as Consultant’s agent and
attorney-in-fact to execute any such papers on Consultant’s behalf, and to take any and all actions as the Company may deem necessary or desirable in order to
protect its rights and interests in the same. 
 (f) It is understood that Sections 4 and 5 of this Agreement apply, without limitation, to
any and all oral communications and writings, including, without limitation, notes, drawings, specifications, software, source code, object code, schematics, flow charts, algorithms and engineering, sales, marketing and financial plans, and studies
and reports that are prepared, compiled or acquired by Consultant during the term of this Agreement. 
 5.
Non-Disclosure and Confidentiality. 
 (a) The Company shall provide Consultant with materials
and such information about the Company, its business and its products and services as the Company, to enable Consultant to carry out his obligations under this Agreement. 

(b) Consultant acknowledges that in the course of consulting for the Company he shall receive materials and information about, and access to,
trade secrets and other confidential and proprietary information (including, without limitation, the information and materials described in Section 4 of this Agreement) which are vital to the competitive position and success of the Company.
During the term of this Agreement and thereafter, Consultant shall hold strictly confidential and shall not disclose to others any of the Confidential Information. Consultant shall not use any of the Confidential Information or Materials other than
as part of the Work and for the sole benefit of the Company. Without the prior written consent of the Company, (i) Consultant shall not distribute or otherwise allow the release of the Materials to any third party, (ii) Consultant shall not,
nor allow or encourage any third party to, manufacture or analyze or otherwise “reverse engineer” any Materials, and (iii) Consultant shall comply with all laws and regulations regarding the transportation, use and disposal of
Materials. 
 (c) The term “Confidential Information” as used throughout this Agreement shall mean all Developments and all trade
secrets, confidential or proprietary information, all information concerning any of the Materials, and other data or information (and any tangible evidence, record or representation thereof), whether prepared, conceived or developed by an employee
or consultant of the Company (including Consultant) or received by the Company from an outside 

  
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 CONSULTING AGREEMENT 

 

 source, which is in the possession of the Company (whether or not the property of the Company) and which is
maintained in secrecy or confidence by the Company or which might permit the Company or any of its customers to obtain a competitive advantage over competitors who do not have access to such Developments, Materials, trade secrets, confidential or
proprietary information or other data or information. 
 (d) Confidential Information shall not include any information which (a) was
known to Consultant at the time it was disclosed, other than by previous disclosure by Company, as evidenced by Consultant’s written records at the time of disclosure, (b) is at the time of disclosure or later becomes publicly known under
circumstances involving no breach of this Agreement, (c) is lawfully and in good faith made available to Consultant by a third party who did not derive it, directly or indirectly, from Company or (d) was independently developed by
Consultant without use of Confidential Information as evidenced by Consultant’s written records. In the event that the Consultant is required to disclose Confidential Information by an order or action of a governmental agency, authority or
court, Company shall be informed as soon as reasonably possible and Consultant shall furnish only that portion of the Confidential Information which is legally required, and shall exercise all efforts required to obtain confidential treatment for
such information. 
 (e) The term “Materials” as used throughout this Agreement shall mean all materials provided to Consultant by
or on behalf of the Company (chemicals, compounds, biological materials, cell lines, organisms, biological materials), all materials derived therefrom (including derivatives, progeny and improvements), and all Developments to the extent such
Developments constitute tangible materials. 
 (f) Consultant understands that the Company from time to time has in its possession materials
and information (including product and development plans and specifications) which is claimed by others to be proprietary and which the Company has agreed to keep confidential. Consultant agrees that all such materials and information shall be
Materials and Confidential Information, respectively, for purposes of this Agreement. 
 6. Non-Competition, Non-Solicitation. 
 (a) During the term of this Agreement and for a period of one (1) year after
the termination or expiration thereof, Consultant shall not, directly or indirectly, participate, whether as owner, stockholder, director, officer, manager, employee, agent or consultant or otherwise, in any project or program of any for profit
business, firm or corporation which is Competing Company. However, the foregoing sentence shall not be construed to prohibit purchase on a national securities exchange or in the
“over-the-counter” market of any securities of a Competing Company listed on such exchange or publicly traded in such market, provided however, that such
purchase does not result in Consultant becoming owner of record of one percent (1%) or more of the outstanding of any class of such company’s securities. A Competing Company shall be an organization which uses oligonucleotide based therapeutics
designed to upregulate a protein or an organization which conducts research and development relating to modulation of non-coding RNA. 

(b) During the term of this Agreement and for a period of one (1) year after the termination or expiration thereof, Consultant shall not,
in any capacity, directly or indirectly, request, cause, solicit, induce, attempt to hire or hire any employee of the Company (or any other person who may have been employed by the Company during the term of this Agreement) to perform work or
services for any person or entity other than the Company, or assist in such hiring by any other person or business entity or encourage any such employee to terminate his or her employment with the Company. 

  
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 CONSULTING AGREEMENT 

 

 7. Relationship of the Parties. 

In performing the Work under this Agreement, Consultant shall at all times act as an independent contractor. This Agreement shall not create
any relationship whereby Consultant shall be an agent or legal representative of the Company for any purpose whatsoever and creates no relationship of employment, principal and agent, partnership or joint venturers. Consultant shall have no
authority to bind the Company or to create any express or implied obligation for the Company, and shall not hold himself out as having such authority. Consultant shall have full responsibility for payment of, and shall pay, all compensation, social
security, unemployment, withholding and other taxes and charges for all persons engaged by him in the performance of services hereunder, as and when the same become due and payable, and the Company shall have no obligation to pay or make available
any employee benefit to Consultant or any person employed by or associated with Consultant. 
 8. Term and Termination. 

(a) This Agreement shall be effective as of the date first above written and shall continue until terminated by the either party as provided in
this Section 8. 
 (b) The Company may terminate this Agreement by sending written notice of termination to Consultant at any time after
Consultant fails or neglects to satisfactorily perform any of his obligations hereunder, including, without limitation, the timely performance of the Work, or otherwise after Consultant’s breach of any provision hereof, such notice to be
effective immediately upon sending. Following any such termination, the Company shall have no further liability or obligation to Consultant. 

(c) Either party may terminate this Agreement upon 90 days written notice. Company may also remove Consultant from RaNA’s board of
directors upon written notice, but Company shall be required to continue payments for 90 days from written notice of termination. 
 (d) Upon
termination or expiration of this Agreement, or at any time upon the written request of the Company, Consultant shall return promptly to the Company all Confidential Information and Materials and all other documents, materials and property belonging
to the Company or its clients. If requested to do so by the Company, Consultant shall sign a Termination Certificate in which Consultant confirms that Consultant has complied with the requirements of this Section 8(d) and that Consultant is
aware that certain restrictions imposed upon Consultant by this Agreement shall continue after termination or expiration of this Agreement, provided that Consultant’s obligations under this Agreement shall continue even if Consultant does not
sign such a Termination Certificate. The Company may withhold final payment under this Agreement until its receipt of such a Termination Certificate. 

(e) Upon the earlier to occur of the termination or expiration of this Agreement or completion of the Work, or at any other time upon request
of the Company, Consultant shall deliver promptly to the Company all Materials, notebooks, disks, tapes, computer programs, reports, proposals, other documents, materials, tools, equipment and other property belonging to the Company or its
customers. 

  
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 CONSULTING AGREEMENT 

 

 (f) Consultant understands and agrees that his obligations under Sections 3, 4, 5, 6, 7 and 9
hereof and this Section 8 shall survive and shall not be affected by any expiration or earlier termination of this Agreement. 
 9.
Miscellaneous. 
 (a) Any notice required or permitted to be given under this Agreement shall be given in writing and sent by
certified mail to the party at the address set forth below or to such other address as such party shall have designated in writing: 
  

							
		 	If to the Company:	  	 RaNA Therapeutics Inc.
 200 Sidney Street

Cambridge, MA 02139 
	  	
				
		 	If to Consultant:	  	Owen Hughes	  	
		 		  	31 Candy Hill Lane	  	
		 		  	Sudbury, MA 01776	  	

 (b) This Agreement sets forth the entire agreement and understanding between the parties with respect to the
subject matter hereof, and supersedes all prior oral and written agreements and understandings between them relating to this consulting relationship. 

(c) No waiver or amendment of any of the provisions of this Agreement shall be binding unless made in writing and signed by the parties. No
failure on the part of either party to exercise, or delay in exercising, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or remedy by such party preclude any other or
further exercise thereof or the exercise of any other right or remedy. A waiver on one occasion shall not constitute a waiver on any further occasion. All rights and remedies hereunder are cumulative and in addition to and not exclusive of any other
rights and remedies provided by law. 
 (d) This Agreement is personal to Consultant, and Consultant shall not delegate or assign any of his
rights, duties or obligations hereunder. Any purported assignment or delegation thereof by Consultant shall be void and ineffective. Consultant shall perform his duties and obligations hereunder alone or in cooperation with employees of the Company
only, and shall not retain, or use other persons to assist him, or work with other persons, in performing such duties and obligations. 
 (e)
This Agreement shall be binding upon, and inure to the benefit of, the parties and their respective heirs, legal representatives, successors and assigns. 

(f) Consultant acknowledges that money damages alone shall not adequately compensate the Company for breach of any of Consultant’s
obligations under Sections 4, 5, 6 and 8(e) hereof and, therefore, agrees that in the event of any breach or threatened breach of any such obligation, in addition to all other remedies available to the Company, at law, in equity or otherwise, the
Company shall be entitled to injunctive relief compelling specific satisfactory performance of, or other compliance with, the terms of such Sections. 

  
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 CONSULTING AGREEMENT 

 

 (g) In the event that any provision of this Agreement shall be determined to be unenforceable
by reason of its extension for too great a period of time or over too large a geographic area or over too great a range of activities, it shall be interpreted to extend only over the maximum period of time, geographic area or range of activities as
to which it may be enforceable. If, after application of the immediately preceding sentence, any provision of this Agreement shall be determined to be invalid, illegal or otherwise unenforceable by any court of competent jurisdiction, the validity,
legality and enforceability of the other provisions of this Agreement shall not be affected thereby. Except as otherwise provided in this Section 9(g), any invalid, illegal or unenforceable provision of this Agreement shall be severable, and
after any such severance all other provisions hereof shall remain in full force and effect. 
 (h) This Agreement shall be governed by, and
construed and enforced in accordance with, the substantive laws of the Commonwealth of Massachusetts, without regard to its principles of conflicts of laws. All litigation arising from or relating to this Agreement shall be filed and prosecuted
before any court of competent subject matter jurisdiction in Boston, Massachusetts. Consultant consents to the jurisdiction of such courts over him, stipulates to the convenience, efficiency and fairness of proceeding in such courts, and covenants
not to allege or assert the inconvenience, inefficiency or unfairness of proceeding in such courts. 
 [remainder of this page
intentionally left blank] 

  
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 CONSULTING AGREEMENT 

 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement under
seal as of the day and year first above written. 
  

									
	RANA THERAPEUTICS, INC	 		 		 	OWEN HUGHES
					
	By:	 	 /s/ Paul Burgess
	 		 		 	 /s/ Owen Hughes

		 	Name: Paul Burgess	 		 		 	Name: Owen Hughes
		 	Title:   General Counsel	 		 		 	Title:   CEO, Intarcia Therapeutics

  

 EXHIBIT A 

1. Consulting Services: 
 Consultant shall become a member
of RaNA’s Board of Directors. 
 2. Compensation: 

As full compensation for the services, Company will pay Consultant $25,000 per year paid quarterly in advance and provide the Common Incentive Unit grant
described below. For partial quarters, the payments will be adjusted accordingly. 
 Company will reimburse Consultant for all reasonable travel and other
business expenses incurred by Consultant in rendering the Consulting Services, provided that such expenses are agreed upon in writing in advance, and are confirmed by appropriate written expense statements and other supporting documentation. 

4. Common Incentive Units 
 In connection with the
commencement of your consulting, the Company will propose to the Board of Directors of RaNA Therapeutics, LLC (the “RaNA LLC Board”), that a grant be made to you of 209,795 Common Incentive Units of RaNA Therapeutics, LLC (the
“Proposed Grant”). The Proposed Grant will be subject to the terms and conditions of a Common Incentive Unit Grant Agreement to be entered into by you and RaNA Therapeutics, LLC. Your ownership of the Common Incentive Units will be subject
to a vesting schedule as follows: one quarter of shares will vest on the first anniversary of the Effective Date, and following that, 1/36th of the remaining Common Incentive Units will vest on a
monthly basis, contingent on your continued engagement as a consultant with the Company.EX-10.17

 Exhibit 10.17 
  

					
	

	  		  	 29 Hartwell Avenue
  

Lexington, MA 02421
  

P (617) 945 7361

 VIA HAND DELIVERY 

April 19, 2018 (as revised on April 23, 2018) 
 Thomas
G. McCauley, Ph.D. 
 Dear Tom: 
 This letter
confirms the terms of our agreement with you concerning your resignation from employment with Translate Bio (the “Company”), effective April 19, 2018 (the “Separation Date”). Notwithstanding your resignation from the
Company, the Company will treat your separation from the Company as a “termination without cause” for purposes of your August 5, 2016 Employment Agreement by and between you and the Company, and you will be eligible to receive the
severance benefits described in paragraph 1 below if you sign and return this letter agreement to me by May 11, 2018 and do not revoke your agreement (as described below). 

By signing and returning this letter agreement and not revoking your acceptance, you will be entering into a binding agreement with the
Company and will be agreeing to the terms and conditions set forth in the numbered paragraphs below, including the release of claims set forth in paragraph 2. Therefore, you are advised to consult with an attorney before signing this letter
agreement and you have been given at least twenty-one (21) days to do so. If you sign this letter agreement, you may change your mind and revoke your agreement during the seven (7) day period after
you have signed it (the “Revocation Period”) by notifying me in writing. If you do not so revoke, this letter agreement will become a binding agreement between you and the Company upon the expiration of the Revocation Period. 

Although your receipt of the severance benefits is expressly conditioned on you entering into this letter agreement, the following will apply
regardless of whether or not you timely sign and return this letter agreement: 
  

	 	•	 	As of the Separation Date, all salary payments from the Company will cease and any benefits you had as of the Separation Date under Company-provided benefit plans, programs, or practices will terminate, except as
required by federal or state law. 

  

	 	•	 	You will receive on the Separation Date payment for your final wages and any unused vacation time accrued through the Separation Date. 

 

	 	•	 	You may, if eligible and at your own cost, elect to continue receiving group medical, dental and vision insurance pursuant to the “COBRA” law. Please consult the COBRA materials to be provided under separate
cover for details regarding these benefits. 

  

	 	•	 	You are obligated to keep confidential and not to use or disclose any and all non-public information concerning the Company that you acquired during the course of your employment
with the Company, including any non-public information concerning the Company’s business affairs, business prospects, and financial condition, except as otherwise permitted by paragraph 9 below. Further,
you remain subject to your continuing obligations to the Company as set forth in the Employee, Non-Competition, 

  
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	 	Non-Solicitation, Confidentiality and Invention Assignment Agreement you previously executed for the benefit of the Company, which remain in full force and effect. 

 

	 	•	 	You must return to the Company on the Separation Date all Company property. 

 If you elect to
timely sign and return this letter agreement and do not revoke your acceptance within the Revocation Period, the following terms and conditions will also apply: 

1. Severance Benefits — The Company will provide you with the following severance benefits (the “severance benefits”): 

 

	 	a.	Severance Pay. The Company will pay to you $265,125 (which corresponds to nine months of salary), less all applicable taxes and withholdings, as severance pay (an amount equivalent to nine months of your current
base salary). This severance pay will be paid in equal installments in accordance with the Company’s regular payroll practices, but in no event shall payments begin earlier than the Company’s first payroll date following expiration of the
Revocation Period. 

  

	 	b.	COBRA Benefits. Should you timely elect and be eligible to continue receiving group health insurance pursuant to the “COBRA” law, the Company will, until the earlier of (x) the date that is nine
(9) months following the Separation Date, and (y) the date on which you obtain alternative coverage (as applicable, the “COBRA Contribution Period”), continue to pay the share of the premiums for such coverage to the same extent
it was paying such premiums on your behalf immediately prior to the Separation Date. The remaining balance of any premium costs during the COBRA Contribution Period, and all premium costs thereafter, shall be paid by you on a monthly basis for as
long as, and to the extent that, you remain eligible for COBRA continuation. You agree that, should you obtain alternative medical, dental and/or vision insurance coverage prior to the date that is nine (9) months following the Separation Date,
you will so inform the Company in writing within five (5) business days of obtaining such coverage. 

  

	 	c.	Outplacement Services. The Company will provide you with a nine (9) month Comprehensive Career Transition package through Keystone Associates, Inc. (“Keystone”). Your use of these services must
occur during the nine (9) month period following your execution of this Agreement, and payment for the services shall be made by the Company directly to Keystone. 

 

	 	d.	Treatment of Equity. Effective as of the Separation Date, all of your unvested and outstanding stock options (pursuant to both the December 7, 2016 and December 22, 2017 grants of incentive stock
options to you by the Company) that would have vested had you remained employed through January 19, 2019 shall tentatively vest. In addition, you will have twelve (12) months following the Separation Date to exercise any outstanding vested
stock options you may have, including, without limitation, the stock options accelerated pursuant to this paragraph 1(d). The stock options for which vesting is accelerated by the first sentence of this paragraph 1(d) will only become fully vested
and exercisable upon the expiration of the Revocation Period. In the event that you do not 

  
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execute this letter agreement or you timely revoke it, your tentatively vested options will be forfeited retroactively to the Separation Date, and further, you will be required to exercise any
outstanding vested and fully exercisable stock options within ninety (90) days after the Separation Date. 

You will not be eligible for, nor shall you have a right to receive, any payments or benefits from the Company following the
Separation Date other than as set forth in this paragraph. 
 2. Release of Claims — In consideration of the severance benefits,
which you acknowledge you would not otherwise be entitled to receive, you hereby fully, forever, irrevocably and unconditionally release, remise and discharge the Company, its affiliates, subsidiaries, parent companies, predecessors, and successors,
and all of their respective past and present officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers and fiduciaries (each in their individual and corporate capacities)
(collectively, the “Released Parties”) from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings,
omissions, damages, executions, obligations, liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature that you ever had or now have against any or all of the Released Parties, whether known or unknown,
including, but not limited to, any and all claims arising out of or relating to your employment with and/or separation from the Company, including, but not limited to, all claims under Title VII of the Civil Rights Act, the Americans With
Disabilities Act, the Age Discrimination in Employment Act, the Genetic Information Nondiscrimination Act, the Family and Medical Leave Act, the Worker Adjustment and Retraining Notification Act, the Rehabilitation Act, Executive Order 11246,
Executive Order 11141, the Fair Credit Reporting Act, and the Employee Retirement Income Security Act, all as amended; all claims arising out of the Massachusetts Fair Employment Practices Act, Mass. Gen. Laws ch. 151B, § 1 et
seq., the Massachusetts Wage Act, Mass. Gen. Laws ch. 149, § 148 et seq. (Massachusetts law regarding payment of wages and overtime), the Massachusetts Civil Rights Act, Mass. Gen. Laws ch. 12, §§ 11H and
111, the Massachusetts Equal Rights Act, Mass. Gen. Laws. ch. 93, § 102 and Mass. Gen. Laws ch. 214, § 1C, the Massachusetts Labor and Industries Act, Mass. Gen. Laws ch. 149, § 1 et seq., Mass. Gen. Laws ch. 214, §
1B (Massachusetts right of privacy law), the Massachusetts Maternity Leave Act, Mass. Gen. Laws ch. 149, § 105D, and the Massachusetts Small Necessities Leave Act, Mass. Gen. Laws ch. 149, § 52D, all as amended; all common law claims
including, but not limited to, actions in defamation, intentional infliction of emotional distress, misrepresentation, fraud, wrongful discharge, and breach of contract (including, without limitation, the August 5, 2016 Employment Agreement by
and between you and the Company, as amended); all claims to any non-vested ownership interest in the Company, contractual or otherwise; all state and federal whistleblower claims to the maximum extent
permitted by law; and any claim or damage arising out of your employment with and/or separation from the Company (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly
referenced above; provided, however, that this release of claims does not prevent you from filing a charge with, cooperating with, or participating in any investigation or proceeding before, the Equal Employment Opportunity Commission or a state
fair employment practices agency (except that you acknowledge that you may not recover any monetary benefits in connection with any such charge, investigation, or proceeding, and you further waive any rights or claims to any payment, benefit,
attorneys’ fees or other remedial relief in connection with any such charge, investigation or proceeding). 
 3. Continuing
Obligations — You acknowledge and reaffirm your confidentiality and nondisclosure obligations discussed on page 1 of this letter agreement, as well as the obligations set forth in the Employee,
Non-Competition, Non-Solicitation, Confidentiality and Invention Assignment Agreement, which survive your separation from employment with the Company. 

  
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 4. Non-Disparagement — You understand and
agree that, to the extent permitted by law and except as otherwise permitted by paragraph 9 below, you will not, in public or private, make any false, disparaging, derogatory or defamatory statements, online (including, without limitation, on any
social media, networking, or employer review site) or otherwise, to any person or entity, including, but not limited to, any media outlet, industry group, financial institution or current or former employee, board member, consultant, client or
customer of the Company, regarding the Company or any of the other Released Parties, or regarding the Company’s business affairs, business prospects, or financial condition. In return, the Company will instruct its directors and officers not
to, in public or private, make any false, disparaging, derogatory or defamatory statements, online (including without limitation, on any social media, networking or employee review site) or otherwise, to any third party regarding you. 

5. Company Affiliation — You agree that, following the Separation Date, you will not hold yourself out as an officer, employee, or
otherwise as a representative of the Company, and you agree to update any directory information that indicates you are currently affiliated with the Company. Without limiting the foregoing, you confirm that, within five (5) days following the
Separation Date, you will update any and all social media accounts (including, without limitation, LinkedIn, Facebook, Twitter and Four Square) to reflect that you are no longer employed by or associated with the Company. 

6. Return of Company Property — You confirm that you have returned to the Company all keys, files, records (and copies thereof),
equipment (including, but not limited to, computer hardware, software, printers, flash drives and other storage devices, wireless handheld devices, cellular phones, tablets, etc.), Company identification, and any other Company owned property in your
possession or control, and that you have left intact all, and have otherwise not destroyed, deleted, or made inaccessible to the Company, any electronic Company documents, including, but not limited to, those that you developed or helped to develop
during your employment, and that you have not (a) retained any copies in any form or media; (b) maintained access to any copies in any form, media, or location; (c) stored any copies in any physical or electronic locations that are
not readily accessible or not known to the Company or that remain accessible to you; or (d) sent, given, or made accessible any copies to any persons or entities that the Company has not authorized to receive such electronic or hard copies. You
further confirm that you have cancelled all accounts for your benefit, if any, in the Company names, including but not limited to, credit cards, telephone charge cards, cellular phone accounts, and computer accounts. 

7. Business Expenses and Final Compensation — You acknowledge that you have been reimbursed by the Company for all business expenses
incurred in conjunction with the performance of your employment and that no other reimbursements are owed to you. You further acknowledge that you have received payment in full for all services rendered in conjunction with your employment by the
Company, including payment for all wages, bonuses, and accrued, unused vacation time, and that no other compensation is owed to you except as provided herein. 

8. Confidentiality — You understand and agree that, to the extent permitted by law and except as otherwise permitted by paragraph 9
below, the terms and contents of this letter agreement, and the contents of the negotiations and discussions resulting in this letter agreement, shall be maintained as confidential by you and your agents and representatives and shall not be
disclosed except as otherwise agreed to in writing by the Company. 

  
 4 

					
	

	  		  	 29 Hartwell Avenue
  

Lexington, MA 02421
  

P (617) 945 7361

  

 9. Scope of Disclosure Restrictions — Nothing in this letter agreement prohibits
you from communicating with government agencies about possible violations of federal, state, or local laws or otherwise providing information to government agencies, filing a complaint with government agencies, or participating in government agency
investigations or proceedings. You are not required to notify the Company of any such communications; provided, however, that nothing herein authorizes the disclosure of information you obtained through a communication that was subject to the
attorney-client privilege. Further, notwithstanding your confidentiality and nondisclosure obligations, you are hereby advised as follows pursuant to the Defend Trade Secrets Act: “An individual shall not be held criminally or civilly liable
under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely
for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a
lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (A) files any
document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.” 
 10.
Continued Assistance — You agree that, during the period for which you will receive severance pay from the Company, you will provide reasonable transition assistance to the Company in answering questions that the Company
may have. You acknowledge and agree that the severance benefits set forth herein constitute sufficient compensation and consideration for any such services, which shall not require more than ten (10) hours of your time in any given month, and
that you will be entitled to no additional compensation for such services. 
 11. Cooperation — You agree that, to the extent
permitted by law, you shall cooperate fully with the Company in the investigation, defense or prosecution of any claims or actions which already have been brought, are currently pending, or which may be brought in the future against the Company by a
third party or by or on behalf of the Company against any third party, whether before a state or federal court, any state or federal government agency, or a mediator or arbitrator. Your full cooperation in connection with such claims or actions
shall include, but not be limited to, being available to meet with the Company’s counsel, at reasonable times and locations designated by the Company, to investigate or prepare the Company’s claims or defenses, to prepare for trial or
discovery or an administrative hearing, mediation, arbitration or other proceeding and to act as a witness when requested by the Company. You further agree that, to the extent permitted by law, you will notify the Company promptly in the event that
you are served with a subpoena (other than a subpoena issued by a government agency), or in the event that you are asked to provide a third party (other than a government agency) with information concerning any actual or potential complaint or claim
against the Company. 
 12. Amendment and Waiver — This letter agreement shall be binding upon the parties and may not be
modified in any manner, except by an instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the parties hereto. This letter agreement is binding upon and shall inure to the benefit of the parties and
their respective agents, assigns, heirs, executors, successors and administrators. No delay or omission by the Company in exercising any right under this letter agreement shall operate as a waiver of that or any other right. A waiver or consent
given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar to or waiver of any right on any other occasion. 

13. Validity — Should any provision of this letter agreement be declared or be determined by any court of competent jurisdiction to
be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not to be a part of this letter agreement. 

  
 5 

					
	

	  		  	 29 Hartwell Avenue
  

Lexington, MA 02421
  

P (617) 945 7361

  

 14. Nature of Agreement — You understand and agree that this letter
agreement is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company. 
 15.
Acknowledgments — You acknowledge that you have been given at least twenty-one (21) days to consider this letter agreement, and that the Company is hereby advising you to
consult with an attorney of your own choosing prior to signing this letter agreement. You understand that you may revoke this letter agreement for a period of seven (7) days after you sign this letter agreement by notifying me in writing, and
the letter agreement shall not be effective or enforceable until the expiration of this seven (7) day revocation period. You understand and agree that by entering into this letter agreement, you are waiving any and all rights or claims you
might have under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, and that you have received consideration beyond that to which you were previously entitled. 

16. Voluntary Assent — You affirm that no other promises or agreements of any kind have been made to or with you by any person or
entity whatsoever to cause you to sign this letter agreement, and that you fully understand the meaning and intent of this letter agreement. You further state and represent that you have carefully read this letter agreement, understand the contents
herein, freely and voluntarily assent to all of the terms and conditions hereof, and sign your name of your own free act. 
 17. Applicable
Law — This letter agreement shall be interpreted and construed by the laws of the Commonwealth of Massachusetts, without regard to conflict of laws provisions. You hereby irrevocably submit to and acknowledge and recognize the
jurisdiction of the courts of the Commonwealth of Massachusetts, or if appropriate, a federal court located in the Commonwealth of Massachusetts (which courts, for purposes of this letter agreement, are the only courts of competent jurisdiction),
over any suit, action or other proceeding arising out of, under or in connection with this letter agreement or the subject matter hereof. 
 18. Entire
Agreement — This letter agreement contains and constitutes the entire understanding and agreement between the parties hereto with respect to your severance benefits and the settlement of claims against the Company and cancels all
previous oral and written negotiations, agreements, and commitments in connection therewith. 
 19. Tax Acknowledgement — In
connection with the severance benefits provided to you pursuant to this letter agreement, the Company shall withhold and remit to the tax authorities the amounts required under applicable law, and you shall be responsible for all applicable taxes
with respect to such severance benefits under applicable law. You acknowledge that you are not relying upon the advice or representation of the Company with respect to the tax treatment of any of the severance benefits set forth in paragraph 1 of
this letter agreement. 
  

			
	Very truly yours,
		
	By:	 	 /s/ Ronald C. Renaud, Jr.

		 	 Ronald C. Renaud, Jr.
 President and Chief
Executive Officer

  
 6 

					
	

	  		  	 29 Hartwell Avenue
  

Lexington, MA 02421
  

P (617) 945 7361

  

 I hereby agree to the terms and conditions set forth above. I have been given at least twenty-one (21) days to consider this letter agreement, and I have chosen to execute this on the date below. I intend that this letter agreement will become a binding agreement between me and the Company if I
do not revoke my acceptance in seven (7) days. 
  

					
	 /s/ Thomas G. McCauley
	 		 	 May 8, 2018

	Thomas G. McCauley, Ph.D.	 		 	Date

 To be returned in a timely manner as set forth on the first page of this letter agreement. 

  
 7

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