Document:

EX-10.12

 Exhibit 10.12 
  

 
  
  

May 27th, 2015 

David-Alexandre C. Gros 
 220 Marlborough Street, #6 

Boston, MA 02116 
 Dear David-Alexandre: 

I am pleased to offer you the position of Senior Vice President, Chief Business Officer with Alnylam Pharmaceuticals, Inc. reporting to John
Maraganore, Chief Executive Officer. You will receive a semi-monthly salary of $17,708.34, which is equivalent to $425,000.16 annually. All payments to you will be subject to legally required tax withholdings. In addition, you are eligible to
participate in the company’s 2015 Annual Incentive Program. Your incentive target will be 40% of your annual base salary and is subject to achievement of Company and individual performance goals. You will be eligible for a pro-rated bonus if
your employment date occurs on or before September 30th of this year. 
 You will
receive an initial sign-on bonus of $200,000.00 (the “Initial Bonus”) on the first regularly scheduled pay period following your first 30 days of employment and an additional $100,000.00 bonus (the “Subsequent Bonus”) on the
first regularly scheduled pay period following the first anniversary of your start date. In the event you voluntarily terminate your employment with Alnylam, other than for good reason, or you are terminated by Alnylam for cause, within twelve
(12) months of (i) the Initial Bonus or (ii) the Subsequent Bonus, you will be required to repay the full amount of either the Initial Bonus (if you leave within the first twelve (12) months), or the Subsequent Bonus, if you
leave within months twelve (12) through twenty-four (24). Any such repayment will be required within 30 days following your last day of employment with Alnylam. 

You will be granted a stock option to purchase 140,000 shares of the company’s Common stock on your first day of employment with the
corporation. Your stock option grant will be subject to the standard terms and conditions of the Alnylam Stock Option Plan Program, and the exercise price shall be equal to the closing price of the common stock on your first day of employment. The
option will vest over four years at the rate of 25% after twelve months of full time active employment and then an additional 6.25% for each additional quarter of full time active employment until the fourth anniversary of the grant date, when the
option will be fully vested. 
 You will also be eligible to participate in the company’s Medical and Dental Insurance Programs as well
as the Life, AD&D, Short and Long Term Disability Plans. You will accrue three weeks (15 days) paid vacation each year and receive 11 paid holidays annually in accordance with the company holiday schedule. In addition you will be eligible to
participate in the Alnylam Savings and Investment Plan, Employee Stock Purchase Plan and Flexible Spending Program for daycare and medical care expenses. Alnylam also provides transportation benefits. Finally, you will also receive support with 2015
tax preparation. 
 In the event you are terminated by Alnylam, other than for Cause, during your first 48 months of employment , Alnylam
agrees to propose a severance arrangement for you to its Compensation Committee for consideration that is consistent with Alnylam’s past practice in providing severance in certain other executive level employees of the organization under
similar circumstances. 
 For purposes of this Agreement, “Cause” shall be defined as (i) an intentional material act of
fraud or dishonesty in connection with your duties hereunder or otherwise in the course of your employment with 

  
 300 Third
Street  ●  Cambridge MA, 02142  ●  main 617.551.8200  ●  fax 617.551.8201 

 
Alnylam; (ii) your conviction of or pleading guilty to any felony or any crime involving moral turpitude or dishonesty; (iii) your material breach of Alnylam policies ; (iv) your
intentional and material damage to Alnylam’s property; (v) your failure to sudstaintially perform your reasonable responsibilities and duties under this Agreement , other than a failure resulting from your complete or partial incapacity
due to physical or mental illness or impairment, that you do not cure within a reasonable cure period not less than thirty ( 30) days following written notice of such failure to substaintialy perform said duties; or (vi) your material breach of
any Confidentiality Agreement. 
 The offer of employment is contingent upon satisfactory reference checks, and your signing the
company’s standard Employee Nondisclosure, Noncompetition and Assignment of Intellectual Property Agreement (copy attached) and 1-9 Employment Verification Form. You will be required to submit documentation that establishes identity and
employment eligibility in accordance with the US Immigration and Naturalization requirements. If there are any other agreements of any type that you are aware of which may impact or limit your ability to perform your job at Alnylam, please let us
know as soon as possible. 
 It is important for you to understand that Massachusetts is an “at will” employment state. This means
that you will have the right to terminate your employment relationship with Alnylam at any time for any reason. Similarly, Alnylam will have the right to terminate its employment relationship with you at any time for any reason. 

We are very excited about having you join our team and anticipate that you will make many important contributions to our Company and strategic
mission. As discussed your start date will be June 8th, 2015 
  

	
	Very truly yours,
	
	

	
	Karen Anderson
	Chief Human Resources Officer

 I have read and accept this employment offer. I
will begin employment on June 8, 2015 
  

	
	

	David-Alexandre C. Gros
	
	Dated: May 29, 2015EX-4.1

 Exhibit 4.1 
  

 
 ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS# COMMON STOCK PAR VALUE $0.0001 COMMON STOCK THIS
CERTIFICATE IS TRANSFERABLE IN CANTON, MA, JERSEY CITY, NJ AND COLLEGE STATION, TX Certificate Number ZQ00000000 Shares * * 000000 ****************** * * * 000000 ***************** **** 000000 **************** ***** 000000 *************** ******
000000 ************** SPRING BANK PHARMACEUTICALS, INC. INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE THIS CERTIFIES THAT is the owner of ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
**** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David
Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample MR. SAMPLE & MRS. SAMPLE & MR. SAMPLE & MRS. SAMPLE **000000**Shares ****000000**Shares ****000000**Shares ****000000**Shares
****000000**Shares ****000000**Shares ****000000**Shares ****000000**Shares*** *000000**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares **** 000000**Shares
****000000**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****0 00000**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares
****000000**Shares ****000000**Shares ****00 0000**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000 000**Shares ****000000**Shares ****000000**Shares
****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares ****000000**Shares ****0000 00**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares ****000000**Shares
****00000 0**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000
**Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000* *Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000 **Shares ****000000**Shares ****000000**Shares ****000000**Shares ****000000**
Shares****000000**Shares****000000**Shares**** 000000**Shares ****000000 **Shares****000000**Shares****000000**Shares****000000**Shares****000000 **S *** ZERO HUNDRED THOUSAND ZERO HUNDRED AND ZERO*** CUSIP 849431 10 1 SEE REVERSE FOR CERTAIN
DEFINITIONS FULLY-PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF Spring Bank Pharmaceuticals, Inc. (hereinafter called the “Company”), transferable on the books of the Company in person or by duly authorized attorney, upon surrender of
this Certificate properly endorsed. This Certificate and the shares represented hereby, are issued and shall be held subject to all of the provisions of the Articles of Incorporation, as amended, and the By-Laws, as amended, of the Company (copies
of which are on file with the Company and with the Transfer Agent), to all of which each holder, by acceptance hereof, assents. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. Witness the
facsimile seal of the Company and the facsimile signatures of its duly authorized officers. FACSIMILE SIGNATURE TO COME President FACSIMILE SIGNATURE TO COME Secretary SPRING BANK PHARMACEUTICALS, INC. SEAL 2002 DELAWARE DATED DD-MMM-YYYY
COUNTERSIGNED AND REGISTERED: COMPUTERSHARE TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, By AUTHORIZED SIGNATURE SECURITY INSTRUCTIONS ON REVERSE 1234567 PO BOX 43004, Providence, RI 02940-3004 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3
ADD 4 CUSIP XXXXXX XX X Holder ID XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678 123456789012345 Certificate Numbers Num/No. Denom. Total 1234567890/1234567890 1 1 1 1234567890/1234567890 2 2 2 1234567890/1234567890 3 3
3 1234567890/1234567890 4 4 4 1234567890/1234567890 5 5 5 1234567890/1234567890 6 6 6 Total Transaction 7 

 

 
 SPRING BANK PHARMACEUTICALS, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE POWERS,
DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS,
PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE ARTICLES OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO
DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL
REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN ACT
-............................................Custodian (Cust) (Minor) TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act (State) JT TEN - as joint tenants with right of survivorship UNIF TRF MIN ACT
-............................................Custodian (until age ................................) and not as tenants in common (Cust) .............................under Uniform Transfers to Minors Act (Minor) (State) Additional abbreviations may
also be used though not in the above list. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, hereby sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF
ASSIGNEE) Dated: 20 Signature: Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement, or any change whatever. Shares of
the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Attorney to transfer the said stock on the books of the within named Company with full power of substitution in the premises. Signature(s)
Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The IRS requires that we report the cost basis of certain shares acquired after January 1, 2011. If your shares were covered by the legislation and you have sold or transferred the shares and requested a
specific cost basis calculation method, we have processed as requested. If you did not specify a cost basis calculation method, we have defaulted to the first in, first out (FIFO) method. Please visit our website or consult your tax advisor if you
need additional information about cost basis. If you do not keep in contact with us or do not have any activity in your account for the time periods specified by state law, your property could become subject to state unclaimed property laws and
transferred to the appropriate state. 1234567

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