Document:

Exhibit 10.6

 

VALTECH SE 2018 IPO AWARD

AWARD AGREEMENT

 

Valtech SE hereby grants the Award to
the Participant. The Award is subject to the terms below and the additional terms, which are legally binding. The Award is
personal to the Participant and is generally not transferable. In the event of any discrepancy, this Award Agreement takes precedence
over any other document. Terms defined within this Award Agreement shall have the same meaning as terms defined within the additional
terms below.

 

	GRANTOR:	 	Valtech SE
	 	 	 
	NAME OF PARTICIPANT:	 	[●]
	 	 	 
	AWARD DATE: 	 	[●]
	 	 	 
	SHARES SUBJECT TO AWARD: 	 	Class A ordinary share of €0.01 each in the capital of Valtech SE
	 	 	 
	TYPE OF AWARD:	 	Restricted Share Unit (RSU)
	 	 	 
	 	 	An RSU is a right to receive Shares on the Vesting Date(s) providing the Award has not lapsed prior to that Vesting Date.
	 	 	 
	VESTING DATE(S): 	 	[●]
	 	 	 
	DIVIDEND EQUIVALENTS: 	 	This Award does not have the right to receive any dividend equivalent payments and the Participant has no right to receive any dividend declared on such Shares for a record date prior to the date on which this Award is satisfied.
	 	 	 
	SHAREHOLDER RIGHTS:	 	You will have no right to vote or receive any dividends in relation to the Shares subject to this Award until the Award has vested and the Shares have been delivered.
	 	 	 
	GOOD LEAVER:	 	If a Termination of Service occurs before the Award has vested due to [(i) death,]1
    (ii) injury or disability (in each case, evidenced to the satisfaction of the Board), (iii) redundancy, unless the Board determines
    otherwise on any occasion, (iv) the company that employs the Participant ceasing to be a member of the Group, (v) the business
    that employs the Participant being transferred to a person or company that is not a member of the Group or (vi) any other
    reason, determined at the discretion of the Board, the Award will: (a) continue until the next Vesting Date under the provisions
    of this Award Agreement, unless the Board determines in its absolute discretion that vesting will be accelerated and (b) vest
    pro rata to reflect the period from the Award Date/previous Vesting Date until the date of the Termination of Service, as
    a proportion of the period from the Award Date/previous Vesting Date until the next Vesting Date, unless the Board decides
    otherwise and, to the extent the Award does not vest, it will then lapse.  Reasons (iii), (iv) and (v) only apply
    if the Participant is an employee of the Company or a Subsidiary, or if the Participant is a Non-Employee Director.
	 	 	 
	BAD LEAVER	 	If a Termination of Service occurs before the Award has vested for any reason that is not a Good Leaver reason, the Award will lapse on the date of such Termination of Service.

 

 

  

1 Note
to Draft: To include for all participants who are not located in Denmark.

 

 

    	 	Page 1 of 10	 

     

    

 

[Participant
Acceptance

 

You do not need to do anything to accept
the Award. You will be deemed to accept it upon receipt of your Award Letter and this Award Agreement.

 

If you do not wish to accept your Award
for whatever reason, please notify [XXX] as soon as possible in particular by [XXX] 2018 so that Valtech can arrange for your
Award to lapse (meaning that you would lose your entitlement to the shares).]2

 

[Participant
Declaration

 

If you do not return the signed version
of this Award Agreement with the following declaration signed and dated to [XXX] by [XXX] 2018, your Award will lapse (meaning
that you would lose your entitlement to the shares).

 

I hereby accept the Award and acknowledge
that the Award has been granted subject to the Terms in this Award Agreement.

 

	Signature:	 	 
	 	 	 
	Print name:  	 	 
	 	 	 
	Date:	 	]3

 

2018 IPO AWARD ADDITIONAL TERMS

 

Section 1.       Purpose.
The purpose of the IPO award (the “Award”) is for Valtech SE (the “Company”) and its Affiliates
to motivate and reward the Participant to perform at the highest level and to further the best interests of the Company and its
shareholders. Capitalized terms not otherwise defined herein are defined in Section 14.

 

Section 2.       Administration.

 

(a)       The
Awards shall be administered by the Award Administrator, which shall be the Board or any member or members of the Board or committee
to whom the Board has delegated its authority. The Award Administrator may issue rules and regulations for administration of this
Award.

 

 

 

2 Note to Draft: To
include for a participant who is an employee or Non-Employee Director of the Company or its Subsidiary.

 

3 Note to Draft: To
include for a participant who is a consultant or other advisor of the Company or its Affiliates.

 

    	 	Page 2 of 10	 

     

    

 

(b)       Subject
to the terms of this Award Agreement and applicable law, the Award Administrator (or its delegate) shall have full power and authority
to: (i) determine whether, to what extent and under what circumstances the Award may be settled in cash, Shares, other awards,
other property, net settlement (including broker-assisted cashless exercise) or any combination thereof, or canceled, forfeited
or suspended, and the method or methods by which the Award may be settled, exercised, canceled, forfeited or suspended; (ii) determine
whether, to what extent and under what circumstances cash, Shares, other awards, other property and other amounts payable with
respect to this Award shall be deferred either automatically or at the election of the holder thereof or of the Award Administrator;
(iii) interpret and administer the Award and any instrument or agreement relating to the Award; (iv) establish, amend,
suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration
of the Award; and (v) make any other determination and take any other action that the Award Administrator deems necessary
or desirable for the administration of the Award.

 

(c)       All
decisions of the Award Administrator shall be final, conclusive and binding upon all parties, including the Company, its shareholders
and the Participant and any Beneficiaries thereof.

 

Section 3.       Shares
Available for Awards.

 

(a)       The
number of Shares subject to this Award is set out on the cover of this Award Agreement.

 

(b)       In
the event that, as a result of any dividend or other distribution (whether in the form of cash, Shares or other securities), recapitalization,
share split, reverse share split, reorganization, merger, amalgamation, consolidation, split-up, spin-off, combination, repurchase
or exchange of Shares or other securities of the Company, issuance of warrants or other rights to acquire Shares or other securities
of the Company at less than Fair Market Value, issuance of Shares pursuant to the anti-dilution provisions of securities of the
Company, or other similar corporate transaction or event affecting the Shares, or of changes in applicable laws, regulations or
accounting principles, an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under this Award Agreement, then the Award Administrator shall adjust equitably any or all of:

 

(i)       the
number and type of Shares (or other securities) subject to the Award if it is outstanding;

 

(ii)       the
grant, acquisition, exercise price with respect to the Award or, if deemed appropriate, make provision for a cash payment to the
holder of the Award if it is outstanding; and

 

(iii)       the
terms and conditions of the Award if it is outstanding;

 

provided, however, that the number
of Shares subject to the Award shall always be a whole number.

 

(c)       Any
Shares delivered pursuant to the Award may consist, in whole or in part, of newly issued Shares or Shares acquired by the Company
or Shares held in trust, or any other method determined in the reasonable discretion of the Board.

 

Section 4.       Vesting
of the Award. Unless it vests earlier as a result of any other provision of this Award Agreement, the Award will vest on the
Vesting Date, or if more than one Vesting Date is listed, it will vest over the proportion of Shares subject to the Award specified
as vesting on that Vesting Date. Where the Award would otherwise vest at a time when Dealing Restrictions would prohibit delivering
or arranging delivery of Shares or cash and/or the Participant from selling Shares, if required to discharge any liability for
taxation, the Award will not vest until such Dealing Restrictions cease to apply. Where the Award would otherwise vest over a fraction
of a Share, the number of Shares that will vest will be rounded down to the nearest whole Share.

 

Section 5.       Settlement
of the Award.

 

(a)       The
Participant may be required to pay the nominal value of the Shares over which the Award has vested, if determined by the Board
prior to settlement of the Award. If the Board so determines, the Award shall not be settled until such amount has been received
by the Company [and for the purposes of this clause, the Participant giving or procuring an undertaking to pay the nominal value
of the Shares will constitute a receipt by the Company]4 (or
as otherwise determined by the Plan Administrator).

 

 

 

4 Note to Draft: To include
for a participant who is a consultant or other advisor of the Company or its Affiliates.

 

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(b)       Subject
to Section 5(a), if the Award vests the Board will arrange for the delivery of Shares or cash to the Participant as soon as practicable
after vesting, and in any case within 14 days after vesting.

 

(c)       Shares
may be delivered to a nominee on behalf of the Participant provided that the Participant is the beneficial owner of the Shares.

 

(d)       If
delivering or arranging delivery of Shares or cash would be prohibited by Dealing Restrictions, delivery will not occur until after
such Dealing Restrictions cease to apply.

 

(e)       Participants
will only be entitled to rights attaching to Shares by reference to a record date on or after the date of the allotment or transfer.

 

(f)       The
Company will arrange payment of all relevant share transfer taxes [and duties and similar charges or levies]5.

 

(g)       The
Award Administrator may determine the form or forms (including cash, Shares, other awards, other property or any combination thereof)
in which payment of the amount owing upon settlement of the Award may be made.

 

Section 6.       Effect
of Termination of Service on Awards. In the event of a Participant’s Termination of Service prior to the vesting of the
Award, the Good Leaver and Bad Leaver provisions will apply.

 

Section
7.       Effect of a Change in Control on Awards. In the event of a Change
in Control, this Section 7 will apply. If the Award vests in accordance with this Section 7, it shall vest on the date of the
Change in Control, to the extent it has not already lapsed.

 

(a)       If
this Section 7 applies and, subject to Section 7(b), the Board may decide that the Award will vest pro-rata to reflect the
period from the Award Date/previous Vesting Date until the date of the Change of Control, as a proportion of the period from
the Award Date/previous Vesting Date to the next Vesting Date, unless the Board determines otherwise, and to the extent the
Award does not vest, it will then lapse.

 

(b)       If
this Section 7 is expected to or does apply, the Board may decide that the Award will be exchanged for a new award, subject to
the consent of the company acquiring the Company (the “Acquiring Company”). Any such exchange will take place
on (or as soon as practicable after) the Change of Control. The new award will be granted on such terms and over such shares (or
other type of securities) as the Board may agree with the Acquiring Company. Unless the Board determines otherwise, the new award
will be governed by this Award Agreement as if references to Shares are references to the shares (or other securities) over which
the new award is granted and references to the Company are to such company as the Board determines. Immediately following an exchange,
the existing Award will lapse.

 

Section 8.       General
Provisions Applicable to the Award.

 

(a)       Subject
to the terms of the Awards, payments or transfers to be made by the Company upon the settlement of this Award may be made in the
form of cash, Shares, other Awards, other property, net settlement or any combination thereof, as determined by the Award Administrator
in its discretion, and may be made in a single payment or transfer, in installments or on a deferred basis, in each case in accordance
with rules and procedures established by the Award Administrator. Such rules and procedures may include provisions for the payment
or crediting of reasonable interest on installment or deferred payments or the grant or crediting of dividend equivalents in respect
of installment or deferred payments.

 

 

 

5 Note to
Draft: To include for a participant who is a consultant or other advisor of the Company or its Affiliates.

 

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(b)       Except
as may be permitted by the Award Administrator or as specifically provided in this Award Agreement, (i) no Award and no right
under any Award shall be assignable, alienable, saleable or transferable by the Participant [otherwise than by will or pursuant
to Section 8(c)]6 and (ii) during the Participant’s lifetime, each right under the Award, shall be exercisable
only by the Participant or, if permissible under applicable law, by the Participant’s guardian or legal representative.
The provisions of this Section 8(b) shall not apply to if the Award has been fully settled and shall not preclude forfeiture of
this Award in accordance with the terms hereof.

 

[(c)       The
Participant may designate a Beneficiary or change a previous Beneficiary designation at such times prescribed by the Award Administrator
by using forms and following procedures approved or accepted by the Award Administrator for that purpose.]7

 

(d)       All
certificates for Shares and/or other securities delivered under this Award Agreement pursuant to this Award shall be subject to
such stop transfer orders and other restrictions as the Award Administrator may deem advisable under this Award Agreement or the
rules, regulations and other requirements of the U.S. Securities and Exchange Commission, any stock market or exchange upon which
such Shares or other securities are then quoted, traded or listed, and any applicable securities laws, and the Award Administrator
may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

 

(e)       The
Award Administrator may impose restrictions on the Award with respect to noncompetition, confidentiality and other restrictive
covenants, or requirements to comply with minimum share ownership requirements, as it deems necessary or appropriate in its sole
discretion.

 

(f)       Settlement
of this Award may be made conditional upon the Participant entering into an election for a particular tax and/or social security
treatment in respect of the Award or the Shares acquired in connection with it (which may include a joint election under Chapter
2 of Part 7 of the UK Income Tax (Earnings & Pensions) Act 2003 or an overseas equivalent).

 

Section 9.       Amendments
and Termination.

 

(a)       Except
to the extent prohibited by applicable law and unless otherwise expressly provided in this Award Agreement, the Board may amend,
alter, suspend, discontinue or any portion thereof at any time; provided, however, that no such amendment, alteration, suspension,
discontinuation shall be made without (i) shareholder approval, if such approval is required by applicable law or the rules
of the stock market or exchange, if any, on which the Shares are principally quoted or traded or (ii) the consent of the Participant,
if such action would materially adversely affect the rights of the Participant under this Award if outstanding, except to the extent
any such amendment, alteration, suspension, discontinuance or termination is made to cause this Award Agreement to comply with
applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. Notwithstanding anything
to the contrary in this Award Agreement, the Award Administrator may amend this Award Agreement in such manner as may be necessary
or desirable to enable this Award Agreement to achieve its stated purposes in any jurisdiction in a tax-efficient manner and in
compliance with local laws, rules and regulations to recognize differences in local law, tax policy or custom. The Award Administrator
also may impose conditions on the vesting of the Award in order to minimize the Company’s obligation with respect to tax
equalization for the Participant on assignments outside his or her home country.

 

(b)       The
Award Administrator may waive any conditions or rights under, amend any terms of, or amend, alter, suspend, discontinue or terminate
this Award theretofore granted, prospectively or retroactively, without the consent of any the Participant or holder [or Beneficiary]8
of this Award; provided, however, that, subject to Section 3(b) and Section 8(a), no such action shall materially
adversely affect the Participant’s rights [or the Beneficiary]9 under this Award theretofore granted, except
to the extent any such action is made to cause this Award to comply with applicable law, stock market or exchange rules and regulations
or accounting or tax rules and regulations.

 

(c)       The
Award Administrator shall be authorized to make adjustments in the terms and conditions of, and the criteria included in, this
Award in recognition of events affecting the Company, or the financial statements of the Company, or of changes in applicable law,
stock market or exchange rules and regulations or accounting or tax rules and regulations, whenever the Award Administrator determines
that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended
to be made available under this Award Agreement.

 

 

 

6 Note
to Draft: To include for all participants who are not located in Denmark.

 

7 Note
to Draft: To include for all participants who are not located in Denmark.

 

8 Note
to Draft: To include for all participants who are not located in Denmark.

 

9 Note
to Draft: To include for all participants who are not located in Denmark.

 

    	 	Page 5 of 10	 

     

    

 

(d)       The
Award Administrator may correct any defect, supply any omission or reconcile any inconsistency in this Award Agreement in the manner
and to the extent it shall deem desirable to carry this Award Agreement into effect.

 

Section 10.       Miscellaneous.

 

(a)       No
employee, the Participant or other person shall have any claim to be granted any further award, and there is no obligation for
uniformity of treatment of employees, the Participant or holders or Beneficiaries of awards. The terms and conditions of awards
need not be the same with respect to each recipient, including as necessary or desirable to recognize differences in local law,
tax policy or custom. This Award shall be a one-time Award that does not constitute a promise of future grants. The Company, in
its sole discretion, maintains the right to make available future grants.

 

(b)       No
payment pursuant to this Award shall be taken into account in determining any benefits under any severance, pension, retirement,
savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Affiliate, except to the extent otherwise
expressly provided in writing in such other plan or an agreement thereunder.

 

(c)       The
grant of this Award shall not be construed as giving the Participant the right to be retained in the employ of, or to continue
to provide services to, the Company or any Affiliate. Further, the Company or the applicable Affiliate may at any time dismiss
the Participant, free from any liability, or any claim under this Award Agreement, unless otherwise expressly provided in in this
Award Agreement or in any other agreement binding the parties. The receipt of this Award is not intended to confer any rights on
the Participant except as set forth in this Award Agreement.

 

(d)       Nothing
contained in this Award Agreement shall prevent the Company from adopting or continuing in effect other or additional compensation
arrangements, and such arrangements may be either generally applicable or applicable only in specific cases.

 

(e)       The
Company, its Affiliates, trustees of any employee benefit trust or any registrars, brokers, third party service providers or third
party administrators retained by the Board shall be authorized to withhold from this Award or any payment due or transfer made
under any other Award Agreement or from any compensation or other amount owing to the Participant the amount (in cash, Shares,
other awards, other property, net settlement or any combination thereof) of any applicable withholding taxes, exercise price (if
still outstanding), dealing and/or currency exchange costs and any other associated costs due in respect of this Award, its settlement
or any payment or transfer under this Award and to take such other action (including providing for elective payment of such amounts
in cash or Shares by the Participant) as may be necessary in the opinion of the Company to satisfy all obligations for the payment
of such costs. Such withholding arrangements may include a reduction in the number of Shares subject to this Award and retention
of some or all of the proceeds (with the difference paid to the Participant in cash) and the sale on behalf of the Participant
of some or all of the Shares to which the Participant is entitled under this Award Agreement and retention of some or all of the
proceeds (with the difference paid to the Participant in cash). Any surplus left after such withholding shall be paid to the Participant.

 

(f)       If
any provision of this Award Agreement is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction, or
would disqualify the Award under any law deemed applicable by the Award Administrator, such provision shall be construed or deemed
amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Award
Administrator, materially altering the intent of this Award Agreement, such provision shall be stricken as to such jurisdiction,
and the remainder of the Award Agreement shall remain in full force and effect.

 

(g)       This
Award shall not create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company
and the Participant or any other person. To the extent that any person acquires a right to receive payments from the Company pursuant
to this Award, such right shall be no greater than the right of any unsecured general creditor of the Company.

 

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(h)       No
fractional Shares shall be issued or delivered pursuant to this Award Agreement, and the Award Administrator shall determine whether
cash or other securities shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any
rights thereto shall be canceled, terminated or otherwise eliminated.

 

Section 11.       Sections 409A
and 457A of the Code.

 

(a)       With
respect to Awards subject to Section 409A and 457A of the Code, this Award Agreement is intended to comply with the requirements
of Section 409A and 457A of the Code, and the provisions of this Award Agreement shall be interpreted in a manner that satisfies
the requirements of Section 409A and 457A of the Code, and this Award Agreement shall be operated accordingly. If any provision
of this Award Agreement or any term or condition of this Award Agreement would otherwise frustrate or conflict with this intent,
the provision, term or condition will be interpreted and deemed amended so as to avoid this conflict. If an amount payable under
this Award as a result of the Participant’s Termination of Service (other than due to death) occurring while the Participant
is a “specified employee” under Section 409A of the Code were to constitute a deferral of compensation subject
to Section 409A of the Code, then payment of such amount shall not occur until six months and one day after the date of the
Participant’s Termination of Service, except as permitted under Section 409A of the Code. If this Award includes a “series
of installment payments” (within the meaning of Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), the Participant’s
right to the series of installment payments shall be treated as a right to a series of separate payments and not as a right to
a single payment, and if this Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e)
of the Treasury Regulations), the Participant’s right to the dividend equivalents shall be treated separately from the right
to other amounts under this Award. Notwithstanding the foregoing, the tax treatment of the benefits provided under this Award Agreement
is not warranted or guaranteed, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest
or other expenses that may be incurred by the Participant on account of non-compliance with Section 409A and 457A of the Code.

 

(b)       Notwithstanding
any provision of this Award Agreement to the contrary, in the event the Award Administrator determines that this Award may be subject
to Section 409A or Section 457A of the Code, the Award Administrator may adopt such amendments to this Award Agreement or adopt
other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions,
that the Award Administrator determines are necessary or appropriate to (a) exempt this Award from Section 409A or Section 457A
of the Code and/or preserve the intended tax treatment of the benefits provided with respect to this Award, or (b) comply with
the requirements of Section 409A or Section 457A and thereby avoid the application of any adverse tax consequences under such Sections.

 

(c)       To
the extent applicable, notwithstanding any provision of this Award Agreement to the contrary, a termination of employment shall
not deemed to have occurred for purposes of any provision of an Award that is subject to Section 409A providing for payment upon
or following a termination of a Participant’s employment unless such termination is also a “separation from service”
and, for purposes of any such provision of such Award, references to a “termination,” “termination of employment”
or like terms shall mean “separation from service.”

 

Section 12.       Data
Protection. The Participant hereby acknowledges the collection, use, disclosure and processing of personal information provided
by the Participant to the Company or any Affiliate, trustee or third party service provider, for all purposes relating to the operation
and/or administration of this Award Agreement. These include, but are not limited to:

 

(i)       the
performance of this Award Agreement;

 

(ii)       administering
and maintaining the Participant’s records;

 

(iii)       providing
information to the Company, Affiliates, trustees of any employee benefit trust, registrars, brokers, third party service providers
or third party administrators of this Award Agreement;

 

(iv)       providing
information to future purchasers or merger partners of the Company or any Affiliate, or the business in which the Participant works;
and

 

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(v)       transferring
information about the Participant to any country or territory that may not provide the same level of protection for the information
as the Participant’s home country.

 

The Participant also
acknowledges that this Award will be subject to any data protection policies applicable to the Company and any Affiliate (including
the Valtech Employee Privacy Policy) and any applicable privacy notices.

 

Section 13.       Governing
Law. This Award Agreement shall be governed by the laws of New York. The Company, its Affiliates and the Participant (by acceptance
of this Award) irrevocably submit, in respect of any suit, action or proceeding related to the implementation or enforcement of
this Award Agreement, to the exclusive jurisdiction of the competent courts in New York.

 

Section 14.       Definitions.
As used in this Award Agreement, the following terms shall have the meanings set forth below:

 

(a)       “Affiliate”
means (i) any entity that, directly or indirectly, is controlled by the Company and (ii) any entity in which the Company,
directly or indirectly, has a significant equity interest, in each case as determined by the Award Administrator.

 

(b)       “Award”
means the RSU granted under this Award Agreement.

 

(c)       “Award
Administrator” means the Board or any member or members of the Board or a committee to whom the Board has delegated its
authority under this Award Agreement.

 

(d)       “Award
Agreement” means any agreement, contract or other instrument or document, which may be in electronic format, evidencing
this Award, which may, but need not, be executed or acknowledged by a Participant.

 

(e)       “Award
Date” means the date set out on the cover of this Award Agreement.

 

(f)       “Bad
Leaver” has the meaning set out on the cover of this Award Agreement.

 

[(g)       “Beneficiary”
means a person entitled to receive payments or other benefits or exercise rights that are available under this Award in the event
of the Participant’s death. If no such person is named by the Participant, or if no Beneficiary designated by the Participant
is eligible to receive payments or other benefits or exercise rights that are available under this Award Agreement at the Participant’s
death, the Participant’s Beneficiary shall be the Participant’s estate.]10

 

(h)       “Board”
means the board of directors of the Company or a duly authorised committee thereof.

 

(i)       “Cause”
means, with respect to the Participant, “cause” or “Cause” as defined in the Participant’s employment
agreement with the Company, if any, or if not so defined, except as otherwise provided in this Award Agreement, the Participant’s:

 

(i)       indictment
for any crime (A) constituting a felony, or (B) that has, or could reasonably be expected to result in, an adverse impact
on the performance of the Participant’s duties to the Company or any of its subsidiaries, or otherwise has, or could reasonably
be expected to result in, an adverse impact to the business or reputation of the Company or any of its subsidiaries;

 

(ii)       having
been the subject of any order, judicial or administrative, obtained or issued by any securities law regulator, (including the U.S.
Securities and Exchange Commission) for any securities violation involving fraud, including, for example, any such order consented
to by the Participant in which findings of facts or any legal conclusions establishing liability are neither admitted nor denied;

 

(iii)       conduct,
in connection with his or her employment or service, which is not taken in good faith and has, or could reasonably be expected
to result in, material injury to the business or reputation of the Company or any of its subsidiaries;

 

 

 

 

10 Note
to Draft: To include for all participants who are not located in Denmark.

 

 

 

    	 	Page 8 of 10	 

     

    

 

(iv)       willful
violation of the Company’s code of conduct or other material policies set forth in the manuals or statements of policy of
the Company or any of its subsidiaries;

 

(v)       willful
neglect in the performance of the Participant’s duties for the Company or any of its subsidiaries or willful or repeated
failure or refusal to perform such duties; or

 

(vi)       material
breach of any applicable employment agreement or other agreement with the Company.

 

The occurrence of any such event
described in clauses (ii) through (vi) that is susceptible to cure or remedy shall not constitute Cause if the Participant cures
or remedies such event within 30 days after the Company provides notice to the Participant.

 

(j)       “Change
in Control” means, except as otherwise provided in this Award Agreement, the occurrence of any one or more of the following
events:

 

(i)       a
direct or indirect change in ownership or control of the Company effected through one transaction or a series of related transactions
within a 12-month period, whereby any Person other than the Company, directly or indirectly acquires or maintains beneficial ownership
of securities of the Company constituting more than 50% of the total combined voting power of the Company’s equity securities
outstanding immediately after such acquisition; and

 

(ii)       the
consummation of a merger, amalgamation or consolidation of the Company or any of its subsidiaries with any other corporation or
entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately
prior to such merger or consolidation continuing to represent (either by remaining outstanding or being converted into voting securities
of the surviving entity or, if applicable, the ultimate parent thereof) at least 50% of the combined voting power of the securities
of the Company or such surviving entity or parent outstanding immediately after such merger or consolidation; or

 

(iii)       the
consummation of any sale, lease, exchange or other transfer to any Person (other than an Affiliate of the Company), in one transaction
or a series of related transactions within a 12-month period, of all or substantially all of the assets of the Company and its
subsidiaries.

 

Notwithstanding the foregoing
or any provision of this Award Agreement to the contrary, for any Award to which Section 11 applies that provides for accelerated
distribution on a Change in Control of amounts that constitute “deferred compensation” (as defined in Section 409A
and 457A of the Code), if the event that constitutes such Change in Control does not also constitute a change in the ownership
or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets (in either case,
as defined in Section 409A and 457A of the Code), such amount shall not be distributed on such Change in Control but instead
shall vest as of the date of such Change in Control and shall be paid on the scheduled payment date specified in this Award Agreement,
except to the extent that earlier distribution would not result in the Participant who holds such Award incurring any additional
tax, penalty, interest or other expense under Section 409A and 457A of the Code.

 

(k)       “Class
A Shares” means Class A ordinary shares of €0.01 each in the capital of the Company.

 

(l)       “Code”
means the U.S. Internal Revenue Code of 1986, as amended from time to time, and the rules, regulations and guidance thereunder.
Any reference to a provision in the Code shall include any successor provision thereto.

 

(m)       “Dealing
Restrictions” means any internal or external restrictions on dealings or transactions in securities imposed by:

 

(i)       any
rules, statutory requirements, orders, legal or regulatory code, provision or rule or other requirement or guidance; and/or

 

(ii)       any
code adopted or established by the Company in addition or replacement to (i) above,

 

    	 	Page 9 of 10	 

     

    

 

in each case in force, and as amended or replaced,
from time to time.

 

(n)       
 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended from time to time, and the rules,
regulations and guidance thereunder. Any reference to a provision in the Exchange Act shall include any successor provision thereto.

 

(o)       “Fair
Market Value” means, except as otherwise provided in this Award Agreement, (i) with respect to a Share, the closing
price of a Share on the date immediately preceding the grant date (or, if there is no reported sale on such date, on the last preceding
date on which any reported sale occurred) on the principal stock market or exchange on which the Shares are quoted or traded, or
if Shares are not so quoted or traded, the fair market value of a Share as determined by the Award Administrator, and (ii) with
respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall
be established from time to time by the Award Administrator.

 

(p)       “Good
Leaver” has the meaning set out on the cover of this Award Agreement.

 

(q)       “Non-Employee
Director” means an executive member of the Board (or the board of a Subsidiary) who is not an employee of the Company
or a Subsidiary.

 

(r)       “Participant”
means the recipient of this Award.

 

(s)       “Person”
means a natural person or a partnership, company, association, cooperative, mutual insurance society, foundation or any other body
which operates externally as an independent unit or organization.

 

(t)       “RSU”
means a contractual right granted in accordance with the provisions of this Award Agreement that is denominated in Shares. Each
RSU represents a right to receive the value of one Share. Awards of RSUs may include the right to receive dividend equivalents.

 

(u)       “Shares”
means Class A Shares.

 

(v)       “Subsidiary”
means an entity of which the Company directly or indirectly holds all or a majority of the value of the outstanding equity interests
of such entity or a majority of the voting power with respect to the voting securities of such entity. Whether employment by or
service with a Subsidiary is included within the scope of this Award Agreement shall be determined by the Award Administrator.

 

(w)       “Termination
of Service” means:

 

(i)       in
the case that the Participant is an employee of the Company or an Affiliate, cessation of the employment relationship such that
the Participant is no longer an employee of the Company or Subsidiary;

 

(ii)       in
the case that the Participant is a Non-Employee Director, the date that the Participant ceases to be a Non-Employee Director for
any reason; or

 

(iii)       in
the case that the Participant is a consultant or other advisor of the Company or a Subsidiary, the effective date of the cessation
of the performance of services for the Company or a Subsidiary;

 

provided, however, that in the case
of an employee, the transfer of employment from the Company to an Affiliate, from an Affiliate to the Company, from one Affiliate
to another Affiliate or, unless the Award Administrator determines otherwise, the cessation of employee status but the continuation
of the performance of services for the Company or an Affiliate as a member of the Board or a consultant or other advisor shall
not be deemed a cessation of service that would constitute a Termination of Service; and provided further that a Termination
of Service will be deemed to occur for the Participant employed by an Affiliate when an Affiliate ceases to be an Affiliate, unless
the Participant’s employment continues with the Company or another Affiliate.

 

(x)       “Vesting
Date” means the date (or dates if applicable, and each shall be a Vesting Date) set out on the cover of this Award Agreement.

 

    	 	Page 10 of 10EX-10.1

 Exhibit 10.1 

OPEN MARKET SALE AGREEMENTSM 

October 5, 2018 
 JEFFERIES LLC 

520 Madison Avenue 
 New York, New York 10022 

Ladies and Gentlemen: 
 Bellicum
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell from time to time through Jefferies LLC, as sales agent and/or principal (the
“Agent”), shares of the Company’s common stock, par value $0.01 per share (the “Common Shares”), on the terms set forth in this agreement (this “Agreement”). 

Section 1. DEFINITIONS 

(a)    Certain Definitions. For purposes of this Agreement, capitalized terms used herein and not otherwise defined
shall have the following respective meanings: 
 “Affiliate” of a Person means another Person that directly or indirectly,
through one or more intermediaries, controls, is controlled by, or is under common control with, such first-mentioned Person. 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. 

“Agency Period” means the period commencing on the date of this Agreement and expiring on the earliest to occur of
(x) the date on which the Agent shall have placed the Maximum Program Amount pursuant to this Agreement and (y) the date this Agreement is terminated pursuant to Section 7. 

“Agent” has the meaning set forth in the introductory paragraph of this Agreement. 

“Agreement” has the meaning set forth in the introductory paragraph of this Agreement. 

“Commission” means the U.S. Securities and Exchange Commission. 

“Common Shares” has the meaning set forth in the introductory paragraph of this Agreement. 

“Company” has the meaning set forth in the introductory paragraph of this Agreement. 

 

	SM 	 “Open Market Sale Agreement” is a service mark of Jefferies LLC 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission thereunder. 
 “Floor Price” means the minimum price set by the Company in the
Issuance Notice below which the Agent shall not sell Shares during the applicable Selling Period, which may be adjusted by the Company at any time during the Selling Period by delivering written notice of such change to the Agent and which in no
event shall be less than $1.00 without the prior written consent of the Agent, which may be withheld in the Agent’s sole discretion. 

“Issuance Amount” means the aggregate Sales Price of the Shares to be sold by the Agent pursuant to any Issuance Notice. 

“Issuance Notice” means a written notice delivered to the Agent by the Company in accordance with this Agreement in the form
attached hereto as Exhibit A that is executed by its Chief Executive Officer, President, Vice President Finance, Chief Financial Officer or General Counsel. 

“Issuance Notice Date” means any Trading Day during the Agency Period that an Issuance Notice is delivered pursuant to
Section 3(b)(i). 
 “Issuance Price” means the Sales Price less the Selling Commission. 

“Maximum Program Amount” means Common Shares with an aggregate Sales Price of the lesser of (a) the number or dollar
amount of Common Shares registered under the Registration Statement (defined below) pursuant to which the offering is being made, (b) the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or
exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) the number or dollar amount of Common Shares permitted to be sold under
Form S-3 (including General Instruction I.B.6 thereof, if applicable), or (d) the number or dollar amount of Common Shares for which the Company has filed a Prospectus (defined below). 

“Person” means an individual or a corporation, partnership, limited liability company, trust, incorporated or unincorporated
association, joint venture, joint stock company, governmental authority or other entity of any kind. 
 “Principal Market”
means The Nasdaq Global Market or such other national securities exchange on which the Common Shares, including any Shares, are then listed. 

“Representation Date” has the meaning set forth in the introductory paragraph of Section 2. 

“Sales Price” means the actual sale execution price of each Share placed by the Agent pursuant to this Agreement. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder.

  
 2 

 “Selling Commission” means up to three percent (3%) of the gross proceeds
with respect to Shares sold pursuant to this Agreement. 
 “Selling Period” means the period of consecutive Trading Days
(as determined by the Company in the Company’s sole discretion and specified in the applicable Issuance Notice) including the Trading Day on which an Issuance Notice is delivered pursuant to Section 3(b)(i), if such
notice is delivered prior to 3:00 p.m. (New York City time) and otherwise, following the Trading Day on which an Issuance Notice is delivered pursuant to Section 3(b)(i). 

“Settlement Date” means the second business day following each Trading Day during the Selling Period on which Shares are sold
pursuant to this Agreement, when the Company shall deliver to the Agent the amount of Shares sold on such Trading Day and the Agent shall deliver to the Company the Issuance Price received on such sales. 

“Shares” shall mean the Common Shares issued or issuable pursuant to this Agreement. 

“Trading Day” means any day on which the Principal Market is open for trading. 

Section 2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company represents and warrants to, and agrees with, the Agent that as of (1) the date of this Agreement, (2) each Issuance
Notice Date, (3) each Settlement Date, (4) each Triggering Event Date and (5) as of each Time of Sale (each of the times referenced above is referred to herein as a “Representation Date”), except as may be disclosed
in the Registration Statement or the Prospectus (including any documents incorporated by reference therein and any supplements thereto) on or before a Representation Date: 

(a)    Registration Statement. The Company has prepared and filed with the Commission a shelf registration
statement on Form S-3 (File No. 333-226652) that contains a base prospectus (the “Base Prospectus”). The Company may file one or more
additional registration statements from time to time that will contain a base prospectus and related prospectus or prospectus supplement, if applicable, with respect to the Shares. Except where the context otherwise requires, such registration
statement registers the issuance and sale by the Company of the Shares under the Securities Act. Such registration statement, including any information deemed to be a part thereof pursuant to Rule 430B under the Securities Act, including all
financial statements, exhibits and schedules thereto and all documents incorporated or deemed to be incorporated therein by reference pursuant to Item 12 of Form S-3 under the Securities Act as from
time to time amended or supplemented, is herein referred to as the “Registration Statement,” and the prospectus constituting a part of such registration statement, together with any prospectus supplement filed with the Commission
pursuant to Rule 424(b) under the Securities Act relating to a particular issuance of the Shares, including all documents incorporated or deemed to be incorporated therein by reference pursuant to Item 12 of
Form S-3 under the Securities Act, in each case, as from time to time amended or supplemented, is referred to herein as the “Prospectus,” except that if any revised prospectus is provided
to the Agent by the Company for use in connection with the offering of the Shares that is not required to be filed by the Company pursuant to Rule 424(b) under the Securities Act, the term “Prospectus” shall refer to such
revised prospectus from and after the time it is first provided to the Agent for such use. As used in this Agreement, the terms 

  
 3 

 
“amendment” or “supplement” when applied to the Registration Statement or the Prospectus shall be deemed to include the filing by the Company with the Commission of any
document under the Exchange Act after the date hereof that is or is deemed to be incorporated therein by reference. 
 All references in
this Agreement to financial statements and schedules and other information which is “contained,” “included” or “stated” in the Registration Statement or the Prospectus (and all other references of like import) shall be
deemed to mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in or otherwise deemed under the Securities Act to be a part of or included in the Registration
Statement or the Prospectus, as the case may be, as of any specified date; and all references in this Agreement to amendments or supplements to the Registration Statement or the Prospectus shall be deemed to mean and include, without limitation, the
filing of any document under the Exchange Act which is or is deemed to be incorporated by reference in or otherwise deemed under the Securities Act to be a part of or included in the Registration Statement or the Prospectus, as the case may be, as
of any specified date. 
 At the time the Registration Statement was originally declared effective and at the time the Company’s annual
report on Form 10-K for the year ended December 31, 2017 was filed with the Commission, the Company met the then-applicable requirements for use of
Form S-3 under the Securities Act. During the Agency Period, each time the Company files an annual report on Form 10-K the Company will meet the
then-applicable requirements for use of Form S-3 under the Securities Act. 

(b)    Compliance with Registration Requirements. The Registration Statement has become effective under the
Securities Act. The Company has complied, to the Commission’s satisfaction, with all requests of the Commission for additional or supplemental information, if any. No stop order suspending the effectiveness of the Registration Statement is in
effect and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated or threatened by the Commission. The Company meets the requirements for use of
Form S-3 under the Securities Act specified in FINRA Conduct Rule 5110(B)(7)(C)(i). The documents incorporated or deemed to be incorporated by reference in the Registration Statement and the
Prospectus, at the time they were or hereafter are filed with the Commission, or became effective under the Exchange Act, as the case may be, complied and will comply in all material respects with the requirements of the Exchange Act. 

(c)    Disclosure. The Prospectus, when filed, complied in all material respects with the Securities Act and, if
filed by electronic transmission pursuant to EDGAR, was identical (except as may be permitted by Regulation S-T under the Securities Act) to the copy thereof delivered to the Agent for use in connection
with the offer and sale of the Shares. Each of the Registration Statement and any post-effective amendment thereto, at the time it became or becomes effective, complied and will comply in all material respects with the Securities Act and did not and
will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus and any Free Writing Prospectus considered together
(collectively, the “Time of Sale Information”), as of the date of this Agreement, did not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading. The Prospectus, as amended or supplemented, as of 

  
 4 

 
its date and at all subsequent times, did not and will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the three immediately preceding sentences do not apply to statements in or omissions from the Registration Statement or any
post-effective amendment thereto or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with written information relating to the Agent furnished to the Company in writing by the Agent expressly for use
therein, it being understood and agreed that the only such information consists of the information described in Section 6(b) below. There are no contracts or other documents required to be described in the Prospectus or to be filed as an
exhibit to the Registration Statement which have not been described or filed as required. 
 (d)    Free Writing
Prospectuses; Road Show. As of the determination date referenced in Rule 164(h) under the Securities Act, the Company was not, is not or will not be (as applicable) an “ineligible issuer” in connection with the offering of the
Shares pursuant to Rules 164, 405 and 433 under the Securities Act. Each free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in
accordance with the requirements of the Securities Act. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or on behalf of or used or
referred to by the Company complies or will comply in all material respects with the requirements of Rule 433 under the Securities Act, including timely filing with the Commission or retention where required and legending, and each such free
writing prospectus, as of its issue date and at all subsequent times through the completion of the public offer and sale of the Shares did not, does not and will not include any information that conflicted, conflicts or will conflict with the
information contained in the Registration Statement or the Prospectus and not superseded or modified. Except for the free writing prospectuses and electronic road shows, if any, furnished to the Agent before first use, the Company has not prepared,
used or referred to, and will not, without the prior written consent of the Agent, prepare, use or refer to, any free writing prospectus. 

(e)    Distribution of Offering Material By the Company. Prior to the completion of the Agent’s distribution
of the Shares, the Company has not distributed and will not distribute any offering material in connection with the offering and sale of the Shares other than the Registration Statement, the Prospectus or any free writing prospectus reviewed and
consented to by the Agent. 
 (f)    The Open Market Sale Agreement. This Agreement has been duly authorized,
executed and delivered by the Company. 
 (g)    Authorization of the Shares. All outstanding shares of capital
stock (including the Shares) of the Company have been duly authorized.    All outstanding shares of capital stock of the Company are, and, when the Shares have been delivered and paid for in accordance with this Agreement on each
Settlement Date, such Shares will have been, validly issued, fully paid and nonassessable. The issuance and sale of the Shares is not subject to any preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase the
Shares that have not been duly waived or satisfied. 

  
 5 

 (h)    No Applicable Registration or Other Similar Rights. There
are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as have been duly
waived. 
 (i)    No Material Adverse Change. Subsequent to the respective dates as of which information is given
in the Registration Statement and the Prospectus: (i) there has been no material adverse change, or any development that would reasonably be expected to result in a material adverse change, in the condition, financial or otherwise, or in the
earnings, business, properties, operations, assets, liabilities or prospects, whether or not arising from transactions in the ordinary course of business, of the Company and its subsidiaries, considered as one entity (any such change being referred
to herein as a “Material Adverse Change”); (ii) the Company and its subsidiaries, considered as one entity, have not incurred any material liability or obligation, indirect, direct or contingent, including without limitation any
losses or interference with its business from fire, explosion, flood, earthquakes, accident or other calamity, whether or not covered by insurance, or from any strike, labor dispute or court or governmental action, order or decree, that are
material, individually or in the aggregate, to the Company and its subsidiaries, considered as one entity, or has entered into any material transactions not in the ordinary course of business; and (iii) there has not been any material decrease
in the capital stock or any material increase in any short-term or long-term indebtedness of the Company or its subsidiaries and there has been no dividend or distribution of any kind declared, paid or made by the Company or, except for dividends
paid to the Company or other subsidiaries, by any of the Company’s subsidiaries on any class of capital stock, or any repurchase or redemption by the Company or any of its subsidiaries of any class of capital stock. 

(j)    Independent Accountants. Ernst & Young LLP, which has expressed its opinion with respect to the
financial statements (which term as used in this Agreement includes the related notes thereto) filed with the Commission as a part of the Registration Statement and the Prospectus, is (i) an independent registered public accounting firm as
required by the Securities Act, the Exchange Act, and the rules of the Public Company Accounting Oversight Board (“PCAOB”), (ii) in compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X under the Securities Act and (iii) a registered public accounting firm as defined by the PCAOB whose registration has not been
suspended or revoked and who has not requested such registration to be withdrawn. 
 (k)    Financial Statements.
The financial statements filed with the Commission as a part of the Registration Statement and the Prospectus present fairly, in all material respects, the financial position of the Company as of the dates indicated and the results of their
operations, changes in stockholders’ equity and cash flows for the periods specified. Such financial statements have been prepared in conformity with generally accepted accounting principles as applied in the United States (“GAAP”)
applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto and except in the case of unaudited financial statements, which are subject to normal and recurring year-end adjustments and do not contain certain footnotes as permitted by the applicable rules of the Commission. The interactive data in eXtensible Business Reporting Language included or incorporated by reference
in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. No other financial

  
 6 

 
statements or supporting schedules are required to be included in the Registration Statement or the Prospectus. The financial data set forth in each of the Registration Statement and the
Prospectus under the caption “Selected Financial Data” fairly presents, in all material respects, the information set forth therein on a basis consistent with that of the audited financial statements contained in the Registration Statement
and the Prospectus. All disclosures contained in the Registration Statement, the Prospectus and any free writing prospectus that constitute non-GAAP financial measures (as defined by the rules and regulations
under the Securities Act and the Exchange Act) comply with Regulation G under the Exchange Act and Item 10 of Regulation S-K under the Securities Act, as applicable. To the Company’s knowledge,
no person who has been suspended or barred from being associated with a registered public accounting firm, or who has failed to comply with any sanction pursuant to Rule 5300 promulgated by the PCAOB, has participated in or otherwise aided the
preparation of, or audited, the financial statements, supporting schedules or other financial data filed with the Commission as a part of the Registration Statement and the Prospectus. 

(l)    Company’s Accounting System. The Company and each of its subsidiaries make and keep
accurate books and records and maintain a system of internal accounting controls designed, and which the Company reasonably believes is sufficient, to provide reasonable assurance that: (i) transactions are executed in accordance with
management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain accountability for assets; (iii) access to assets is
permitted only in accordance with management’s general or specific authorization; (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any
differences; and (v) the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and
is prepared in accordance with the Commission’s rules and guidelines applicable thereto. 
 (m)    Disclosure
Controls and Procedures; Deficiencies in or Changes to Internal Control Over Financial Reporting. The Company has established and maintains disclosure controls and procedures (as defined in
Rules 13a-15 and 15d-15 under the Exchange Act), which (i) are designed to ensure that material information relating to the Company, is made known to the
Company’s principal executive officer and its principal financial officer by others within those entities, particularly during the periods in which the periodic reports required under the Exchange Act are being prepared; (ii) have been
evaluated by management of the Company for effectiveness as of the end of the Company’s most recent fiscal quarter; and (iii) are effective in all material respects to perform the functions for which they were established. Since the end of
the Company’s most recent audited fiscal year, there have been no significant deficiencies or material weakness in the Company’s internal control over financial reporting (whether or not remediated) and no change in the Company’s
internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. The Company is not aware of any change in its internal control over
financial reporting that has occurred during its most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting. 

(n)    Incorporation and Good Standing of the Company. The Company has been duly incorporated and is validly
existing as a corporation in good standing under the laws of the 

  
 7 

 
jurisdiction of its incorporation and has the corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement and the
Prospectus and to enter into and perform its obligations under this Agreement. The Company is duly qualified as a foreign corporation to transact business and is in good standing in the State of Texas and each other jurisdiction in which such
qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or to be in good standing would not reasonably be expected, individually or in the aggregate, to
have a material adverse effect on the condition (financial or otherwise), earnings, business, properties, operations, assets, liabilities or prospects of the Company and its subsidiaries, considered as one entity (a “Material Adverse
Effect”). 
 (o)    Subsidiaries. The Company has one subsidiary (as defined in Rule 405 under the
Securities Act), Bellicum Pharma Limited, a private limited company organized under the laws of the United Kingdom (the “Subsidiary”). The Subsidiary has been duly incorporated or organized, as the case may be, and is validly
existing as a corporation, partnership or limited liability company, as applicable, in good standing (to the extent such concept exists) under the laws of the jurisdiction of its incorporation or organization and has the power and authority
(corporate or other) to own, lease and operate its properties and to conduct its business. The Subsidiary is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which such qualification is
required, whether by reason of the ownership or leasing of property or the conduct of business. All of the issued and outstanding capital stock or other equity or ownership interests of the Subsidiary has been duly authorized and validly issued, is
fully paid and nonassessable and is owned directly by the Company free and clear of any security interest, mortgage, pledge, lien, encumbrance or adverse claim. The Company does not own or control, directly or indirectly, any other corporation,
association or entity. 
 (p)    Capitalization and Other Capital Stock Matters. The authorized, issued and
outstanding capital stock of the Company is as set forth in the Registration Statement and the Prospectus (other than for subsequent issuances, if any, pursuant to employee benefit plans, or upon the exercise of outstanding options or warrants, in
each case as described in the Registration Statement and the Prospectus). The Common Shares (including the Shares) conform in all material respects to the description thereof contained in the Prospectus. All of the issued and outstanding Common
Shares have been duly authorized and validly issued, are fully paid and nonassessable and have been issued in compliance with all federal and state securities laws. None of the outstanding Common Shares was issued in violation of any preemptive
rights, rights of first refusal or other similar rights to subscribe for or purchase securities of the Company that have not been duly waived or satisfied. There are no authorized or outstanding options, warrants, preemptive rights, rights of first
refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for, any capital stock of the Company or any of its subsidiaries other than those described in the Registration Statement and the
Prospectus, other than equity awards subsequently granted pursuant to employee benefit plans described in the Registration Statement and the Prospectus. The descriptions of the Company’s stock option, stock bonus and other stock plans or
arrangements, and the options or other rights granted thereunder, set forth in the Registration Statement and the Prospectus accurately and fairly presents, in all material respects, the information required to be shown with respect to such plans,
arrangements, options and rights. 

  
 8 

 (q)    Stock Exchange Listing. The Common Shares are registered
pursuant to Section 12(b) or 12(g) of the Exchange Act and are listed on The Nasdaq Global Market (“Nasdaq”), and the Company has taken no action designed to, or likely to have the effect of, terminating the registration of the
Common Shares under the Exchange Act or delisting the Shares from Nasdaq, nor has the Company received any notification that the Commission or Nasdaq is contemplating terminating such registration or listing. To the Company’s knowledge, it is
in compliance with all applicable listing requirements of Nasdaq. 

(r)    Non-Contravention of Existing Instruments; No Further Authorizations or
Approvals Required. Neither the Company nor any of its subsidiaries is in violation of its charter or by-laws or similar organizational documents, as applicable, or is in default (or, with the giving of
notice or lapse of time, would be in default) (“Default”) under any indenture, loan, credit agreement, note, lease, license agreement, contract, franchise or other instrument (including, without limitation, any pledge agreement,
security agreement, mortgage or other instrument or agreement evidencing, guaranteeing, securing or relating to indebtedness) to which the Company or any of its subsidiaries is a party or by which it or any of them may be bound, or to which any of
their respective properties or assets are subject (each, an “Existing Instrument”), except for such Defaults as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. The
Company’s execution, delivery and performance of this Agreement, consummation of the transactions contemplated hereby and by the Registration Statement and the Prospectus and the issuance and sale of the Shares (including the use of proceeds
from the sale of the Shares as described in the Registration Statement and the Prospectus under the caption “Use of Proceeds”) (i) have been duly authorized by all necessary corporate action and will not result in any violation of the
provisions of the charter or by-laws or similar organizational documents, as applicable, of the Company or any subsidiary (ii) will not conflict with or constitute a breach of, or Default or a Debt
Repayment Triggering Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or require the consent of any other
party to, any Existing Instrument and (iii) will not result in any violation of any law, administrative regulation or administrative or court decree applicable to the Company or any of its subsidiaries, except for such conflicts, breaches,
Defaults, Debt Repayment Triggering Event, lien, charge or encumbrance specified in clauses (ii) and (iii) above that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. No consent,
approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency, is required for the Company’s execution, delivery and performance of this Agreement and consummation
of the transactions contemplated hereby and by the Registration Statement and the Prospectus, except such as have been obtained or made by the Company and are in full force and effect under the Securities Act and such as may be required under
applicable state securities or blue sky laws or the Financial Industry Regulatory Authority, Inc. (“FINRA”). As used herein, a “Debt Repayment Triggering Event” means any event or condition which gives, or with the
giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of
such indebtedness by the Company or any of its subsidiaries. 
 (s)    Compliance with Laws. The Company and its
subsidiaries have been and are in compliance with all applicable laws, rules and regulations, except where failure to be so in 

  
 9 

 
compliance would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(t)    No Material Actions or Proceedings. There is no action, suit, proceeding, inquiry or investigation brought
by or before any governmental entity now pending or, to the knowledge of the Company, threatened, against or affecting the Company or any of its subsidiaries, which would reasonably be expected, individually or in the aggregate, to have a Material
Adverse Effect or materially and adversely affect the consummation of the transactions contemplated by this Agreement or the performance by the Company of its obligations hereunder; and the aggregate of all pending legal or governmental proceedings
to which the Company or any such subsidiary is a party or of which any of their respective properties or assets is the subject, including ordinary routine litigation incidental to the business, if determined adversely to the Company, would not
reasonably be expected to have a Material Adverse Effect. No material labor dispute with the employees of the Company or any of its subsidiaries, or with the employees of any principal supplier, manufacturer, customer or contractor of the Company,
exists or, to the knowledge of the Company, is threatened or imminent, which could reasonably be expected to result in a Material Adverse Effect. 

(u)    Intellectual Property Rights. The Company and its subsidiaries own, or have obtained valid and enforceable
licenses for, the inventions, patent applications, patents, trademarks, trade names, service names, copyrights, trade secrets and other intellectual property described in the Registration Statement and the Prospectus as being owned or licensed by
them or which are necessary for the conduct of their respective businesses as currently conducted or as currently proposed to be conducted (collectively, “Intellectual Property”). To the Company’s knowledge, and except as would
not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect: (i) there are no third parties who have rights to any Intellectual Property, except for customary reversionary rights of third-party licensors with
respect to Intellectual Property that is disclosed in the Registration Statement and the Prospectus as licensed to the Company or one or more of its subsidiaries; and (ii) there is no infringement by third parties of any Intellectual Property.
Except as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others: (A) challenging
the Company’s rights in or to any Intellectual Property, and the Company is unaware of any facts which would form a reasonable basis for any such action, suit, proceeding or claim; (B) challenging the validity, enforceability or scope of
any Intellectual Property, and the Company is unaware of any facts which would form a reasonable basis for any such action, suit, proceeding or claim that, if asserted on the date hereof, could reasonably be expected to succeed; or
(C) asserting that the Company or any of its subsidiaries infringes or otherwise violates, or would, upon the commercialization of any product or service described in the Registration Statement or the Prospectus as under development, infringe
or violate, any patent, trademark, trade name, service name, copyright, trade secret or other proprietary rights of others, and the Company is unaware of any facts which would form a reasonable basis for any such action, suit, proceeding or claim
that, if asserted on the date hereof, would reasonably be expected to succeed. Except as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, the Company and its subsidiaries have complied with the
terms of each agreement pursuant to which Intellectual Property has been licensed to the Company or any subsidiary, and all such agreements are in full force and effect. Except as would not reasonably be expected, individually or in the aggregate,
to 

  
 10 

 
have a Material Adverse Effect, the product candidates described in the Registration Statement and the Prospectus as under development by the Company or any subsidiary fall within the scope of
the claims of one or more patents owned by, or exclusively licensed to, the Company or any subsidiary. 
 (v)    All
Necessary Permits, etc. The Company and its subsidiaries possess such valid and current certificates, authorizations or permits required by state, federal or foreign regulatory agencies or bodies to conduct their respective businesses as
currently conducted and as described in the Registration Statement or the Prospectus (“Permits”), except where the failure to so possess would not reasonably be expected to, individually or in the aggregate, result in a Material
Adverse Effect. Except as would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, neither the Company nor any of its subsidiaries is violation of, or in default under, any of the Permits or has received
any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such certificate, authorization or permit. 

(w)    Title to Properties. The Company and its subsidiaries have good and marketable title to all of the real and
personal property and other assets reflected as owned in the financial statements referred to in Section 1(j) above (or elsewhere in the Registration Statement or the Prospectus), in each case free and clear of any security interests,
mortgages, liens, encumbrances, equities, adverse claims and other defects, except as would not reasonably be expected, individually or in the aggregate, to materially affect the value of such property or materially interfere with the use thereof.
The real property, improvements, equipment and personal property held under lease by the Company or any of its subsidiaries are held under valid and enforceable leases, with such exceptions as are not material and do not materially interfere with
the use made or proposed to be made of such real property, improvements, equipment or personal property by the Company or such subsidiary. 

(x)    Tax Law Compliance. The Company and its subsidiaries have filed all material federal, state and foreign
income and franchise tax returns or have properly requested extensions thereof, except insofar as the failure to file such returns would not be expected to result in a Material Adverse Effect, and have paid all material taxes required to be paid by
any of them and, if due and payable, any related or similar assessment, fine or penalty levied against any of them except as may be being contested in good faith and by appropriate proceedings and except where the failure to pay such taxes could not
reasonably be expected to result in a Material Adverse Effect. The Company has made adequate charges, accruals and reserves in the applicable financial statements referred to in Section 2(k) above in respect of all federal, state and foreign
income and franchise taxes for all periods as to which the tax liability of the Company or any of its subsidiaries is being contested or has not otherwise been finally determined, except to the extent of any inadequacy that would not reasonably be
expected to result in a Material Adverse Effect. 
 (y)    Insurance. Each of the Company and its subsidiaries
are insured by financially sound and reputable institutions with policies in such amounts and with such deductibles and covering such risks as are generally deemed adequate and customary for their businesses including, but not limited to, policies
covering real and personal property owned or leased by the Company and its subsidiaries against theft, damage, destruction and acts of vandalism and policies covering the Company and its subsidiaries for product liability claims and clinical trial
liability claims. The 

  
 11 

 
Company has no reason to believe that it or any of its subsidiaries will not be able (i) to renew its existing insurance coverage as and when such policies expire or (ii) to obtain
comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not be expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has
been denied any insurance coverage which it has sought or for which it has applied. 
 (z)    Compliance with
Environmental Laws. Except as would not be expected, individually or in the aggregate, to have a Material Adverse Effect: (i) neither the Company not any of its subsidiaries is not in violation of any applicable federal, state, local or
foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof, including any judicial or administrative order, consent, decree or judgment, relating to pollution or
protection of human health, the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including, without limitation, laws and regulations relating to the release or
threatened release of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum or petroleum products (collectively, “Hazardous Materials”) or to the manufacture, processing, distribution, use,
treatment, storage, disposal, transport or handling of Hazardous Materials (collectively, “Environmental Laws”); (ii) the Company and its subsidiaries have all permits, authorizations and approvals required under any applicable
Environmental Laws and are each in compliance with their requirements; (iii) there are no pending or, to the Company’s knowledge, threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens,
notices of noncompliance or violation, investigation or proceedings relating to any Environmental Law against the Company or any of its subsidiaries; and (iv) to the Company’s knowledge, there are no events or circumstances existing as of
the date hereof that might reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or
affecting the Company or any of its subsidiaries relating to Hazardous Materials or any Environmental Laws. 

(aa)    ERISA Compliance. The Company and its subsidiaries and, to the knowledge of the Company, any “employee
benefit plan” (as defined under the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder (collectively, “ERISA”)) established or maintained by the Company, its
subsidiaries or their “ERISA Affiliates” (as defined below) are in compliance in all material respects with ERISA. “ERISA Affiliate” means, with respect to the Company or any of its subsidiaries, any member of any group of
organizations described in Sections 414(b), (c), (m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder (the “Code”) of which the Company or such subsidiary is a
member. No “reportable event” (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any “employee benefit plan” established or maintained by the Company, its subsidiaries or any of their ERISA
Affiliates. No “employee benefit plan” established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates, if such “employee benefit plan” were terminated, would have any “amount of unfunded benefit
liabilities” (as defined under ERISA). Neither the Company, its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to incur any liability under (i) Title IV of ERISA with respect to termination of, or
withdrawal from, any “employee benefit plan” or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Each employee 

  
 12 

 
benefit plan established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates that is intended to be qualified under Section 401(a) of the Code is so qualified and
nothing has occurred, whether by action or failure to act, which would cause the loss of such qualification. 

(bb)    Company Not an “Investment Company.” The Company is not, and will not be, either
after receipt of payment for the Shares or after the application of the proceeds therefrom as described under “Use of Proceeds” in the Registration Statement or the Prospectus, required to register as an “investment company”
under the Investment Company Act of 1940, as amended (the “Investment Company Act”). 
 (cc)    No
Price Stabilization or Manipulation; Compliance with Regulation M. Neither the Company nor any of its subsidiaries has taken, directly or indirectly, without giving effect to activities by the Agent, any action designed to or that would
reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Shares or of any “reference security” (as defined in Rule 100 of Regulation M under the Exchange Act
(“Regulation M”)) with respect to the Common Shares, whether to facilitate the sale or resale of the Shares or otherwise, and has taken no action which would directly or indirectly violate Regulation M. The Common Shares
are “actively traded securities” (as defined in Regulation M). 
 (dd)    Related-Party
Transactions. There are no business relationships or related-party transactions involving the Company or any of its subsidiaries or any other person required to be described in the Registration Statement or the Prospectus that have not been
described as required. 
 (ee)    FINRA Matters. All of the information provided to the Agent or to counsel for
the Agent by the Company, its counsel, its officers and directors and, to the knowledge of the Company, the holders of any securities (debt or equity) or options to acquire any securities of the Company in connection with the offering of the Shares
is true, complete, correct in all material respects and compliant with FINRA’s rules and any letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rules or NASD Conduct Rules is true, complete and correct in all
material respects. 
 (ff)    Statistical and Market-Related Data. All statistical, demographic and
market-related data included in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate in all material respects. To the extent required, the Company has obtained the
written consent to the use of such data from such sources. 
 (gg)    No Unlawful Contributions or Other
Payments. Neither the Company nor any of its subsidiaries nor, to the Company’s knowledge, any employee or agent of the Company or any subsidiary, has made any contribution or other payment to any official of, or candidate for, any federal,
state or foreign office in violation of any applicable law or of the character required to be disclosed in the Registration Statement or the Prospectus. 

(hh)    Foreign Corrupt Practices Act. Neither the Company nor any of its subsidiaries nor, to the knowledge of the
Company, any director, officer, agent, employee, Affiliate or other person acting on behalf of the Company or any of its subsidiaries has, in the course of its actions for, or on behalf of, the Company or any of its subsidiaries (i) used any
corporate funds for any 

  
 13 

 
unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any domestic government official,
“foreign official” (as defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the “FCPA”) or employee from corporate funds; (iii) violated or is
in violation of any provision of the FCPA or any applicable non-U.S. anti-bribery statute or regulation; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful
payment to any domestic government official, such foreign official or employee; and the Company and its subsidiaries and, to the knowledge of the Company, the Company’s Affiliates have conducted their respective businesses in compliance with
the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. 

(ii)    Money Laundering Laws. The operations of the Company and its subsidiaries are, and have been conducted at
all times, in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and
regulations thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the best knowledge of the Company, threatened. 

(jj)    OFAC. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, after due
inquiry, any director, officer, agent, employee, Affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury
Department (“OFAC”); and the Company will not directly or indirectly use the proceeds of this offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, or any joint venture partner or other person or
entity, for the purpose of financing the activities of or business with any person, or in any country or territory, that currently is the subject to any U.S. sanctions administered by OFAC or in any other manner that will result in a violation by
any person (including any person participating in the transaction whether as underwriter, advisor, investor or otherwise) of U.S. sanctions administered by OFAC. 

(kk)    Brokers. Except pursuant to this Agreement, there is no broker, finder or other party that is entitled to
receive from the Company any brokerage or finder’s fee or other fee or commission as a result of any transactions contemplated by this Agreement. 

(ll)    Forward-Looking Statements. Each financial or operational projection or other “forward-looking
statement” (as defined by Section 27A of the Securities Act or Section 21E of the Exchange Act) contained in the Registration Statement or the Prospectus (i) was so included by the Company in good faith and with reasonable basis
after due consideration by the Company of the underlying assumptions, estimates and other applicable facts and circumstances and (ii) is accompanied by meaningful cautionary statements identifying those factors that could cause actual results
to differ materially from those in such forward-looking statement. No such statement was made with the knowledge of an executive officer or director of the Company that it was false or misleading. 

  
 14 

 (mm)    Emerging Growth Company Status. The Company is an
“emerging growth company,” as defined in Section 2(a) of the Securities Act (an “Emerging Growth Company”). 

(nn)    Clinical Data and Regulatory Compliance. The preclinical tests and clinical trials being conducted or
sponsored by the Company and its subsidiaries, and, to the knowledge of the Company, other studies (collectively, “studies”) that are described in, or the results of which are referred to in, the Registration Statement or the Prospectus
were and, if still pending, are being conducted in all material respects in accordance with the protocols, procedures and controls designed and approved for such studies and with standard medical and scientific research procedures; each description
of the results of such studies is accurate and complete in all material respects and fairly presents the data derived from such studies, and the Company and its subsidiaries have no knowledge of any other studies the results of which are
inconsistent with, or otherwise call into question, the results described or referred to in the Registration Statement or the Prospectus; the Company and its subsidiaries have made all such filings and obtained all such approvals as may be required
by the Food and Drug Administration of the U.S. Department of Health and Human Services or any committee thereof or from any other U.S. or foreign government or drug or medical device regulatory agency, or health care facility Institutional Review
Board (collectively, the “Regulatory Agencies”); neither the Company nor any of its subsidiaries has received any notice of, or correspondence from, any Regulatory Agency requiring the termination, suspension or modification of any
clinical trials being conducted or sponsored by the Company or any of its subsidiaries that are described or referred to in the Registration Statement or the Prospectus; and the Company and its subsidiaries have each operated and currently are in
compliance in all material respects with all applicable rules, regulations and policies of the Regulatory Agencies. 

(oo)    No Contract Terminations. Neither the Company nor any of its subsidiaries has sent or received any
communication regarding termination of, or intent not to renew, any of the contracts or agreements referred to or described in any preliminary prospectus, the Prospectus or any free writing prospectus, or referred to or described in, or filed as an
exhibit to, the Registration Statement, or any document incorporated by reference therein, and no such termination or non-renewal has been threatened by the Company or any of its subsidiaries or, to the
Company’s knowledge, any other party to any such contract or agreement, which threat of termination or non-renewal has not been rescinded as of the date hereof. 

(pp)    No Rights to Purchase Preferred Stock. The issuance and sale of the Shares as contemplated hereby will not
cause any holder of any shares of capital stock, securities convertible into or exchangeable or exercisable for capital stock or options, warrants or other rights to purchase capital stock or any other securities of the Company to have any right to
acquire any shares of preferred stock of the Company, except for such rights as have been duly waived. 
 Any certificate signed by any
officer or representative of the Company or any of its subsidiaries and delivered to the Agent or counsel for the Agent in connection with an issuance of Shares shall be deemed a representation and warranty by the Company to the Agent as to the
matters covered thereby on the date of such certificate. 
 The Company acknowledges that the Agent and, for purposes of the opinions to be
delivered pursuant to Section 4(o) hereof, counsel to the Company and counsel to the Agent, will 

  
 15 

 
rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance. 

Section 3. ISSUANCE AND SALE OF COMMON SHARES 

(a)    (i) Sale of Securities. On the basis of the representations, warranties and agreements herein contained, but
subject to the terms and conditions herein set forth, the Company and the Agent agree that the Company may from time to time seek to sell Shares through the Agent, acting as sales agent, or directly to the Agent, acting as principal, as follows,
with an aggregate Sales Price of up to the Maximum Program Amount, based on and in accordance with Issuance Notices as the Company may deliver, during the Agency Period. 

(b)    Mechanics of Issuances. 

(i) Issuance Notice. Upon the terms and subject to the conditions set forth herein, on any Trading Day during the Agency Period on
which the conditions set forth in Section 5(a) and Section 5(b) shall have been satisfied, the Company may exercise its right to request an issuance of Shares by delivering to the Agent an Issuance
Notice; provided, however, that (A) in no event may the Company deliver an Issuance Notice to the extent that (I) the sum of (x) the aggregate Sales Price of the requested Issuance Amount, plus (y) the aggregate Sales
Price of all Shares issued under all previous Issuance Notices effected pursuant to this Agreement, would exceed the Maximum Program Amount; and (B) prior to delivery of any Issuance Notice, the Selling Period for any previous Issuance Notice
shall have expired or been terminated. An Issuance Notice shall be considered delivered on the Trading Day that it is received by e-mail to the persons so identified in writing by the Agent and confirmed by
the Company by telephone (including a voicemail message to the persons so identified), with the understanding that, with adequate prior written notice, the Agent may modify the list of such persons from time to time. 

(ii)    Agent Efforts. Upon the terms and subject to the conditions set forth in this Agreement, upon the receipt
of an Issuance Notice, the Agent will use its commercially reasonable efforts consistent with its normal sales and trading practices to place the Shares with respect to which the Agent has agreed to act as sales agent, subject to, and in accordance
with the information specified in, the Issuance Notice, unless the sale of the Shares described therein has been suspended, cancelled or otherwise terminated in accordance with the terms of this Agreement. For the avoidance of doubt, the parties to
this Agreement may modify an Issuance Notice at any time provided they both agree in writing to any such modification. 

(iii)    Method of Offer and Sale. The Shares may be offered and sold (A) in privately negotiated
transactions, (B) as block transactions or (C) by any other method or payment permitted by law deemed to be an “at the market” offering as defined in Rule 415 under the Securities Act, including sales made directly on the
Principal Market or sales made to or through a market maker or through an electronic communications network. Nothing in this Agreement shall be deemed to require either party to agree to the method of offer and sale specified in the preceding
sentence, and (except as specified in clause (D) above) the method of placement of any Shares by the Agent shall be at the Agent’s discretion. 

  
 16 

 (iv)    Confirmation to the Company. If acting as sales agent
hereunder, the Agent will provide written confirmation to the Company no later than the opening of the Trading Day next following the Trading Day on which it has placed Shares hereunder setting forth the number of shares sold on such Trading Day,
the corresponding Sales Price and the Issuance Price payable to the Company in respect thereof. 

(v)    Settlement. Each issuance of Shares will be settled on the applicable Settlement Date for such issuance of
Shares and, subject to the provisions of Section 5, on or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Shares being sold by crediting the Agent or its
designee’s account at The Depository Trust Company through its Deposit/Withdrawal At Custodian (DWAC) System, or by such other means of delivery as may be mutually agreed upon by the parties hereto and, upon receipt of such Shares, which in all
cases shall be freely tradable, transferable, registered shares in good deliverable form, the Agent will deliver, by wire transfer of immediately available funds, the related Issuance Price in same day funds delivered to an account designated by the
Company prior to the Settlement Date. The Company may sell Shares to the Agent as principal at a price agreed upon at each relevant time Shares are sold pursuant to this Agreement (each, a “Time of Sale”). 

(vi)    Suspension or Termination of Sales. Consistent with standard market settlement practices, the Company or
the Agent may, upon notice to the other party hereto in writing or by telephone (confirmed immediately by verifiable email), suspend any sale of Shares, and the Selling Period shall immediately terminate; provided, however, that (A) such
suspension and termination shall not affect or impair either party’s obligations with respect to any Shares placed or sold hereunder prior to the receipt of such notice; (B) if the Company suspends or terminates any sale of Shares after
the Agent confirms such sale to the Company, the Company shall still be obligated to comply with Section 3(b)(v) with respect to such Shares; and (C) if the Company defaults in its obligation to deliver Shares on a
Settlement Date, the Company agrees that it will hold the Agent harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable legal fees and expenses), as incurred, arising out of or in
connection with such default by the Company. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company has not delivered
Shares to settle sales as required by subsection (v) above, and may use the Shares to settle or close out such borrowings. The Company agrees that no such notice shall be effective against the Agent unless it is made to the persons identified
in writing by the Agent pursuant to Section 3(b)(i). 
 (vii)    No Guarantee of Placement,
Etc. The Company acknowledges and agrees that (A) there can be no assurance that the Agent will be successful in placing Shares and (B) the Agent will incur no liability or obligation to the Company or any other Person if it does not
sell Shares, and (C) the Agent shall be under no obligation to purchase Shares on a principal basis pursuant to this Agreement, except as otherwise specifically agreed by the Agent and the Company. 

(viii)    Material Non-Public Information. Notwithstanding any other
provision of this Agreement, the Company and the Agent agree that the Company shall not deliver any Issuance Notice to the Agent, and shall terminate any active Issuance Notice, and the Agent shall not be obligated to place any Shares, during any
period in which the Company is, or could be deemed to be, in possession of material non-public information. 

  
 17 

 (c)    Fees. As compensation for services rendered, the Company
shall pay to the Agent, on the applicable Settlement Date, the Selling Commission for the applicable Issuance Amount (including with respect to any suspended or terminated sale pursuant to Section 3(b)(vi)) by the Agent
deducting the Selling Commission from the applicable Issuance Amount. 
 (d)    Expenses. The Company agrees to
pay all costs, fees and expenses incurred in connection with the performance of its obligations hereunder and in connection with the transactions contemplated hereby, including without limitation (i) all expenses incident to the issuance and
delivery of the Shares (including all printing and engraving costs), (ii) all fees and expenses of the registrar and transfer agent of the Shares, (iii) all necessary issue, transfer and other stamp taxes in connection with the issuance
and sale of the Shares, (iv) all fees and expenses of the Company’s counsel, independent public or certified public accountants and other advisors, (v) all costs and expenses incurred in connection with the preparation, printing,
filing, shipping and distribution of the Registration Statement (including financial statements, exhibits, schedules, consents and certificates of experts), the Prospectus, any Free Writing Prospectus (as defined below) prepared by or on behalf of,
used by, or referred to by the Company, and all amendments and supplements thereto, and this Agreement, (vi) all filing fees, attorneys’ fees and expenses incurred by the Company or the Agent in connection with qualifying or registering
(or obtaining exemptions from the qualification or registration of) all or any part of the Shares for offer and sale under the state securities or blue sky laws or the provincial securities laws of Canada, and, if requested by the Agent, preparing
and printing a “Blue Sky Survey” or memorandum and a “Canadian wrapper”, and any supplements thereto, advising the Agent of such qualifications, registrations, determinations and exemptions, (vii) the reasonable fees
and disbursements of the Agent’s counsel, including the filing fees incident to, and the reasonable fees and expenses of counsel for the Agent in connection with, FINRA review, if any, and approval of the Agent’s participation in the
offering and distribution of the Shares, (viii) the costs and expenses of the Company relating to investor presentations on any “road show” undertaken in connection with the marketing of the offering of the Shares, including, without
limitation, expenses associated with the preparation or dissemination of any electronic road show, expenses associated with the production of road show slides and graphics, fees and expenses of any consultants engaged in connection with the road
show presentations with the prior approval of the Company, travel and lodging expenses of the representatives, employees and officers of the Company and of the Agent and any such consultants, and the cost of any aircraft chartered in connection with
the road show and (ix) the fees and expenses associated with listing the Shares on Nasdaq. The fees and disbursements of Agent’s counsel pursuant to subsections (vi), (vii) and (viii) above shall not exceed $50,000. 

Section 4. ADDITIONAL COVENANTS 
 The
Company covenants and agrees with the Agent as follows, in addition to any other covenants and agreements made elsewhere in this Agreement: 

(a)    Exchange Act Compliance. The Company shall file all documents required to be filed with the Commission
pursuant to Section 13, 14 or 15 of the Exchange Act in the manner and within the time periods required by the Exchange Act. During the Agency Period, the Company shall (i) file, on a timely basis, with the Commission all reports and
documents required to be filed under Section 13, 14 or 15 of the Exchange Act in the manner and within the time periods required by the Exchange Act and (ii) either (A) include in its quarterly reports on Form 10-Q and its annual 

  
 18 

 
reports on Form 10-K, a summary detailing, for the relevant reporting period, (1) the number of Shares sold through the Agent pursuant to this
Agreement and (2) the net proceeds received by the Company from such sales or (B) prepare a prospectus supplement or in such other filing permitted by the Securities Act or Exchange Act (each an “Interim Prospectus
Supplement”) with such summary information and, at least once a quarter and subject to this Section 4, file such Interim Prospectus Supplement pursuant to Rule 424(b) under the Securities Act (and within the time periods required
by Rule 424(b) and Rule 430B under the Securities Act)). 
 (b)    Securities Act Compliance. After the
date of this Agreement, the Company shall promptly advise the Agent in writing (i) of the receipt of any comments of, or requests for additional or supplemental information from, the Commission, (ii) of the time and date of any filing of
any post-effective amendment to the Registration Statement, any Rule 462(b) Registration Statement or any amendment or supplement to the Prospectus, any Free Writing Prospectus, (iii) of the time and date that any post-effective amendment
to the Registration Statement or any Rule 462(b) Registration Statement becomes effective and (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any post-effective
amendment thereto, any Rule 462(b) Registration Statement or any amendment or supplement to the Prospectus or of any order preventing or suspending the use of any Free Writing Prospectus or the Prospectus, or of any proceedings to remove,
suspend or terminate from listing or quotation the Common Shares from any securities exchange upon which they are listed for trading or included or designated for quotation, or of the threatening or initiation of any proceedings for any of such
purposes. If the Commission shall enter any such stop order at any time, the Company will use its best efforts to obtain the lifting of such order at the earliest possible moment. Additionally, the Company agrees that it shall comply with the
provisions of Rule 424(b) and Rule 433, as applicable, under the Securities Act and will use its reasonable efforts to confirm that any filings made by the Company under such Rule 424(b) or Rule 433 were received in a timely
manner by the Commission. 
 (c)    Amendments and Supplements to the Prospectus and Other Securities Act
Matters. If any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Prospectus so that the Prospectus does not include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the circumstances when the Prospectus is delivered to a purchaser, not misleading, or if in the opinion of the Agent or counsel for the Agent it is otherwise necessary to amend or
supplement the Prospectus to comply with applicable law, including the Securities Act, the Company agrees (subject to Section 3(b) and 3(c)) to promptly prepare, file with the Commission and furnish at its own expense to the Agent, amendments
or supplements to the Prospectus so that the statements in the Prospectus as so amended or supplemented will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus, as amended or supplemented, will comply with applicable law including the Securities Act. Neither the Agent’s consent to,
or delivery of, any such amendment or supplement shall constitute a waiver of any of the Company’s obligations under Sections 3(b) or (c). 

(d)    Agent’s Review of Proposed Amendments and Supplements. Prior to amending or
supplementing the Registration Statement (including any registration statement filed under Rule 462(b) under the Securities Act) or the Prospectus (including any amendment or supplement 

  
 19 

 
through incorporation of any report filed under the Exchange Act), the Company shall furnish to the Agent for review, a reasonable amount of time prior to the proposed time of filing or use
thereof, a copy of each such proposed amendment or supplement, and the Company shall not file or use any such proposed amendment or supplement without the Agent’s prior consent, and to file with the Commission within the applicable period
specified in Rule 424(b) under the Securities Act any prospectus required to be filed pursuant to such Rule. 

(e)    Use of Free Writing Prospectus. Neither the Company nor the Agent has prepared, used, referred to or
distributed, or will prepare, use, refer to or distribute, without the other party’s prior written consent, any “written communication” that constitutes a “free writing prospectus” as such terms are defined in Rule 405
under the Securities Act with respect to the offering contemplated by this Agreement (any such free writing prospectus being referred to herein as a “Free Writing Prospectus”). 

(f)    Free Writing Prospectuses. The Company shall furnish to the Agent for review, a reasonable amount of time
prior to the proposed time of filing or use thereof, a copy of each proposed free writing prospectus or any amendment or supplement thereto to be prepared by or on behalf of, used by, or referred to by the Company and the Company shall not file, use
or refer to any proposed free writing prospectus or any amendment or supplement thereto without the Agent’s consent. The Company shall furnish to the Agent, without charge, as many copies of any free writing prospectus prepared by or on behalf
of, or used by the Company, as the Agent may reasonably request. If at any time when a prospectus is required by the Securities Act (including, without limitation, pursuant to Rule 173(d)) to be delivered in connection with sales of the Shares
(but in any event if at any time through and including the date of this Agreement) there occurred or occurs an event or development as a result of which any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company
conflicted or would conflict with the information contained in the Registration Statement or included or would include an untrue statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances prevailing at that subsequent time, not misleading, the Company shall promptly amend or supplement such free writing prospectus to eliminate or correct such conflict or so that the statements in such free
writing prospectus as so amended or supplemented will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances prevailing at such
subsequent time, not misleading, as the case may be; provided, however, that prior to amending or supplementing any such free writing prospectus, the Company shall furnish to the Agent for review, a reasonable amount of time prior to the
proposed time of filing or use thereof, a copy of such proposed amended or supplemented free writing prospectus and the Company shall not file, use or refer to any such amended or supplemented free writing prospectus without the Agent’s
consent. 
 (g)    Filing of Agent Free Writing Prospectuses. The Company shall not to take any action that would
result in the Agent or the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities Act a free writing prospectus prepared by or on behalf of the Agent that the Agent otherwise would not have been required
to file thereunder. 
 (h)    Copies of Registration Statement and Prospectus. After the date of this Agreement
through the last time that a prospectus is required by the Securities Act (including, without 

  
 20 

 
limitation, pursuant to Rule 173(d)) to be delivered in connection with sales of the Shares, the Company agrees to furnish the Agent with copies (which may be electronic copies) of the
Registration Statement and each amendment thereto, and with copies of the Prospectus and each amendment or supplement thereto in the form in which it is filed with the Commission pursuant to the Securities Act or Rule 424(b) under the
Securities Act, both in such quantities as the Agent may reasonably request from time to time; and, if the delivery of a prospectus is required under the Securities Act or under the blue sky or securities laws of any jurisdiction at any time on or
prior to the applicable Settlement Date for any Selling Period in connection with the offering or sale of the Shares and if at such time any event has occurred as a result of which the Prospectus as then amended or supplemented would include an
untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made when such Prospectus is delivered, not misleading, or, if for any
other reason it is necessary during such same period to amend or supplement the Prospectus or to file under the Exchange Act any document incorporated by reference in the Prospectus in order to comply with the Securities Act or the Exchange Act, to
notify the Agent and to request that the Agent suspend offers to sell Shares (and, if so notified, the Agent shall cease such offers as soon as practicable); and if the Company decides to amend or supplement the Registration Statement or the
Prospectus as then amended or supplemented, to advise the Agent promptly by telephone (with confirmation in writing) and to prepare and cause to be filed promptly with the Commission an amendment or supplement to the Registration Statement or the
Prospectus as then amended or supplemented that will correct such statement or omission or effect such compliance; provided, however, that if during such same period the Agent is required to deliver a prospectus in respect of transactions in the
Shares, the Company shall promptly prepare and file with the Commission such an amendment or supplement. 

(i)    Blue Sky Compliance. The Company shall cooperate with the Agent and counsel for the Agent to qualify or
register the Shares for sale under (or obtain exemptions from the application of) the state securities or blue sky laws or Canadian provincial securities laws of those jurisdictions designated by the Agent, shall comply with such laws and shall
continue such qualifications, registrations and exemptions in effect so long as required for the distribution of the Shares. The Company shall not be required to qualify as a foreign corporation or to take any action that would subject it to general
service of process in any such jurisdiction where it is not presently qualified or where it would be subject to taxation as a foreign corporation. The Company will advise the Agent promptly of the suspension of the qualification or registration of
(or any such exemption relating to) the Shares for offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event of the issuance of any order suspending such qualification,
registration or exemption, the Company shall use its best efforts to obtain the withdrawal thereof at the earliest possible moment. 

(j)    Earnings Statement. As soon as practicable, the Company will make generally available to its security
holders and to the Agent an earnings statement (which need not be audited) covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the date of this Agreement which shall satisfy the
provisions of Section 11(a) of the Securities Act and Rule 158 under the Securities Act. 
 (k)    Listing;
Reservation of Shares. (a) The Company will maintain the listing of the Shares on Nasdaq, and (b) the Company will reserve and keep available at all times, free of 

  
 21 

 
preemptive rights, Shares for the purpose of enabling the Company to satisfy its obligations under this Agreement. 

(l)    Transfer Agent. The Company shall engage and maintain, at its expense, a registrar and transfer agent for
the Shares. 
 (m)    Due Diligence. During the term of this Agreement, the Company will reasonably cooperate
with any reasonable due diligence review conducted by the Agent in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during normal
business hours and at the Company’s principal offices, as the Agent may reasonably request from time to time. 

(n)    Representations and Warranties. The Company acknowledges that each delivery of an Issuance Notice and each
delivery of Shares on a Settlement Date shall be deemed to be (i) an affirmation to the Agent that the representations and warranties of the Company contained in or made pursuant to this Agreement are true and correct as of the date of such
Issuance Notice or of such Settlement Date, as the case may be, as though made at and as of each such date, except as may be disclosed in the Prospectus (including any documents incorporated by reference therein and any supplements thereto), and
(ii) an undertaking that the Company will advise the Agent if any of such representations and warranties will not be true and correct as of the Settlement Date for the Shares relating to such Issuance Notice, as though made at and as of each
such date (except that such representations and warranties shall be deemed to relate to the Registration Statement and the Prospectus as amended and supplemented relating to such Shares). 

(o)    Deliverables at Triggering Event Dates; Certificates. The Company agrees that on or prior to the date of the
first Issuance Notice and, during the term of this Agreement after the date of the first Issuance Notice, upon: 
 (A) the
filing of the Prospectus or the amendment or supplement of any Registration Statement or Prospectus (other than a prospectus supplement relating solely to an offering of securities other than the Shares or a prospectus filed pursuant to
Section 4(a)(ii)(B)), by means of a post-effective amendment, sticker or supplement, but not by means of incorporation of documents by reference into the Registration Statement or Prospectus; 

(B) the filing with the Commission of an annual report on Form 10-K (including
any Form 10-K/A containing amended financial information or a material amendment to the previously filed annual report on Form 10-K) of the Company; 

(C) the filing with the Commission of a quarterly report on Form 10-Q (including
any Form 10-Q/A containing amended financial information or a material amendment to the previously filed quarterly report on Form 10-Q) of the Company; or 

(D) the filing with the Commission of a current report on Form 8-K of the Company
containing amended financial information (other than information “furnished” pursuant to Item 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to reclassification of certain properties as discontinued operations in accordance with 

  
 22 

 
Statement of Financial Accounting Standards No. 144) that is material to the offering of securities of the Company in the Agent’s reasonable discretion; 

(any such event, a “Triggering Event Date”), the Company shall furnish the Agent (but in the case of clause (D) above only if the Agent
reasonably determines that the information contained in such current report on Form 8-K of the Company is material) with a certificate as of the Triggering Event Date, in the form and substance
satisfactory to the Agent and its counsel, substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as amended or supplemented,
(A) confirming that the representations and warranties of the Company contained in this Agreement are true and correct, (B) that the Company has performed all of its obligations hereunder to be performed on or prior to the date of such
certificate and as to the matters set forth in Section 5(a)(i) hereof, and (C) containing any other certification that the Agent shall reasonably request. The requirement to provide a certificate under this
Section 4(o) shall be waived for any Triggering Event Date occurring at a time when no Issuance Notice is pending or a suspension is in effect, which waiver shall continue until the earlier to occur of the date the Company
delivers instructions for the sale of Shares hereunder (which for such calendar quarter shall be considered a Triggering Event Date) and the next occurring Triggering Event Date. Notwithstanding the foregoing, if the Company subsequently decides to
sell Shares following a Triggering Event Date when a suspension was in effect and did not provide the Agent with a certificate under this Section 4(o), then before the Company delivers the instructions for the sale of Shares or the Agent sells
any Shares pursuant to such instructions, the Company shall provide the Agent with a certificate in conformity with this Section 4(o) dated as of the date that the instructions for the sale of Shares are issued. 

(p)    Legal Opinions. On or prior to the date of the first Issuance Notice and within five (5) Trading Days
of each Triggering Event Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 4(o) for which no waiver is applicable and excluding the date of this Agreement, a negative assurances letter and the
written legal opinion of Cooley LLP, counsel to the Company and Grant IP, intellectual property counsel to the Company, each dated the date of delivery, in form and substance reasonably satisfactory to Agent and its counsel, substantially similar to
the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; provided, however, the Company shall be required to furnish no more than
one opinion hereunder per calendar quarter. In lieu of such opinions for subsequent periodic filings, in the discretion of the Agent, the Company may furnish a reliance letter from such counsel to the Agent, permitting the Agent to rely on a
previously delivered opinion letter, modified as appropriate for any passage of time or Triggering Event Date (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or
supplemented as of such Triggering Event Date); 
 (q)    Comfort Letter. On or prior to the date of the first
Issuance Notice and within five (5) Trading Days of each Triggering Event Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 4(o) for which no waiver is applicable and excluding the date of
this Agreement, the Company shall cause Ernst & Young LLP, the independent registered public accounting firm who has audited the financial statements included or incorporated by reference in the Registration Statement, to furnish the Agent
a comfort letter, dated 

  
 23 

 
the date of delivery, in form and substance reasonably satisfactory to the Agent and its counsel, substantially similar to the form previously provided to the Agent and its counsel; provided,
however, that any such comfort letter will only be required on the Triggering Event Date specified to the extent that it contains financial statements filed with the Commission under the Exchange Act and incorporated or deemed to be incorporated by
reference into a Prospectus. If requested by the Agent, the Company shall also cause a comfort letter to be furnished to the Agent within ten (10) Trading Days of the date of occurrence of any material transaction or event requiring the filing
of a current report on Form 8-K containing material amended financial information of the Company, including the restatement of the Company’s financial statements. The Company shall be required to
furnish no more than one comfort letter hereunder per calendar quarter. 
 (r)    Secretary’s
Certificate. On or prior to the date of the first Issuance Notice and within five (5) Trading Days of each Triggering Event Date with respect to which the Company is obligated to deliver a certificate pursuant to Section 4(o) for which
no waiver is applicable and excluding the date of this Agreement, the Company shall furnish the Agent a certificate executed by the Secretary of the Company, signing in such capacity, dated the Applicable Time (i) certifying that attached
thereto are true and complete copies of the resolutions duly adopted by the Board of Directors of the Company authorizing the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby (including, without
limitation, the issuance of the Shares pursuant to this Agreement), which authorization shall be in full force and effect on and as of the date of such certificate, (ii) certifying and attesting to the office, incumbency, due authority and
specimen signatures of each Person who executed this Agreement for or on behalf of the Company, and (iii) containing any other certification that the Agent shall reasonably request. 

(s)    Agent’s Own Account; Clients’ Account. The Company consents to the Agent trading, in compliance
with applicable law, in the Common Shares for the Agent’s own account and for the account of its clients at the same time as sales of the Shares occur pursuant to this Agreement. 

(t)    Investment Limitation. The Company shall not invest, or otherwise use the proceeds received by the Company
from its sale of the Shares in such a manner as would require the Company or any of its subsidiaries to register as an investment company under the Investment Company Act. 

(u)    Market Activities. The Company will not take, directly or indirectly, any action designed to or that might
be reasonably expected to cause or result in stabilization or manipulation of the price of the Shares or any other reference security, whether to facilitate the sale or resale of the Shares or otherwise, and the Company will, and shall cause each of
its Affiliates to, comply with all applicable provisions of Regulation M. If the limitations of Rule 102 of Regulation M (“Rule 102”) do not apply with respect to the Shares or any other reference security
pursuant to any exception set forth in Section (d) of Rule 102, then promptly upon notice from the Agent (or, if later, at the time stated in the notice), the Company will, and shall cause each of its Affiliates to, comply with
Rule 102 as though such exception were not available but the other provisions of Rule 102 (as interpreted by the Commission) did apply. The Company shall promptly notify the Agent if it no longer meets the requirements set forth in Section
(d) of Rule 102. 

  
 24 

 (v)    Notice of Other Sale. Without the written consent of the
Agent, the Company will not, directly or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Shares or securities convertible into or exchangeable for Common Shares (other than Shares
hereunder), warrants or any rights to purchase or acquire Common Shares, during the period beginning on the third Trading Day immediately prior to the date on which any Issuance Notice is delivered to the Agent hereunder and ending on the third
Trading Day immediately following the Settlement Date with respect to Shares sold pursuant to such Issuance Notice; provided, however, that such restriction will not be required in connection with the Company’s (i) issuance or sale of
Common Shares, options to purchase Common Shares or Common Shares issuable upon the exercise of options or other equity awards pursuant to any employee or director share option, incentive or benefit plan, share purchase or ownership plan, long-term
incentive plan, dividend reinvestment plan, inducement award under Nasdaq rules or other compensation plan of the Company or its subsidiaries, as in effect on the date of this Agreement, (ii) issuance or sale of Common Shares issuable upon
exchange, conversion or redemption of securities or the exercise or vesting of warrants, options or other equity awards disclosed in filings by the Company on EDGAR or otherwise in writing to the Agent, (iii) issuance or sale of Common Shares
or securities convertible into or exchangeable for Common Shares as consideration for mergers, acquisitions, other business combinations, joint ventures or strategic alliances, or offered and sold in a privately-negotiated transaction with vendors,
customers, strategic partners or potential strategic partners, occurring after the date of this Agreement which are not used for capital raising purposes and which are conducted in a manner so as not to be integrated with the offering of Shares
hereunder and (iv) modification of any outstanding options, warrants or any rights to purchase or acquire Common Shares. 
 Section 5.
CONDITIONS TO DELIVERY OF ISSUANCE NOTICES AND TO SETTLEMENT 
 (a)    Conditions Precedent to the Right of the
Company to Deliver an Issuance Notice and the Obligation of the Agent to Sell Shares During the Selling Period(s). The right of the Company to deliver an Issuance Notice hereunder is subject to the satisfaction, on the date of delivery of such
Issuance Notice, and the obligation of the Agent to use its commercially reasonable efforts to place Shares during the applicable Selling Period is subject to the satisfaction, on each Trading Day during the Selling Period, of each of the following
conditions: 
 (i)    Accuracy of the Company’s Representations and Warranties; Performance by
the Company. The Company shall have delivered the certificate required to be delivered pursuant to Section 4(o) on or before the date on which delivery of such certificate is required pursuant to
Section 4(o). The Company shall have performed, satisfied and complied with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to such
date, including, but not limited to, the covenants contained in Section 4(p), Section 4(q) and Section 4(r). 

(ii)    No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction
shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby that prohibits or directly and

  
 25 

 
materially adversely affects any of the transactions contemplated by this Agreement, and no proceeding shall have been commenced that may have the effect of prohibiting or materially adversely
affecting any of the transactions contemplated by this Agreement. 
 (iii)     Material Adverse
Changes. Except as disclosed in the Prospectus and the Time of Sale Information, (a) in the judgment of the Agent there shall not have occurred any Material Adverse Change; and (b) there shall not have occurred any downgrading, nor
shall any notice have been given of any intended or potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any securities of the Company or any of its
subsidiaries by any “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) under the Securities Act. 

(iv)     No Suspension of Trading in or Delisting of Common Shares; Other Events. The trading of the
Common Shares (including without limitation the Shares) shall not have been suspended by the Commission, the Principal Market or FINRA and the Common Shares (including without limitation the Shares) shall have been approved for listing or quotation
on and shall not have been delisted from the Principal Market. There shall not have occurred (and be continuing in the case of occurrences under clauses (i) and (ii) below) any of the following: (i) trading or quotation in any of the
Company’s securities shall have been suspended or limited by the Commission or by Nasdaq, or trading in securities generally on Nasdaq shall have been suspended or limited, or minimum or maximum prices shall have been generally established on
any of such stock exchanges by the Commission or the NASD; (ii) a general banking moratorium shall have been declared by any of federal, New York, Delaware or California authorities; or (iii) there shall have occurred any outbreak or
escalation of national or international hostilities or any crisis or calamity, or any change in the United States or international financial markets, or any substantial change or development involving a prospective substantial change in United
States’ or international political, financial or economic conditions, as in the judgment of the Agent is material and adverse and makes it impracticable to market the Shares in the manner and on the terms described in the Prospectus or to
enforce contracts for the sale of securities; 
 (b)    Documents Required to be Delivered on each Issuance Notice
Date. The Agent’s obligation to use its commercially reasonable efforts to place Shares hereunder shall additionally be conditioned upon the delivery to the Agent on or before the Issuance Notice Date of a certificate in form and substance
reasonably satisfactory to the Agent, executed by the Chief Executive Officer, President, Vice President Finance, Chief Financial Officer or General Counsel of the Company, to the effect that all conditions to the delivery of such Issuance Notice
shall have been satisfied as at the date of such certificate (which certificate shall not be required if the foregoing representations shall be set forth in the Issuance Notice). 

(c)    No Misstatement or Material Omission. Agent shall not have advised the Company that the Registration
Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent’s reasonable opinion is material, or omits to state a fact that in the Agent’s reasonable opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. 

  
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 Section 6. INDEMNIFICATION AND CONTRIBUTION 

(a)    Indemnification of the Agent. The Company agrees to indemnify and hold harmless the Agent, its officers and
employees, and each person, if any, who controls the Agent within the meaning of the Securities Act or the Exchange Act against any loss, claim, damage, liability or expense, as incurred, to which the Agent or such officer, employee or controlling
person may become subject, under the Securities Act, the Exchange Act, other federal or state statutory law or regulation, or the laws or regulations of foreign jurisdictions where Shares have been offered or sold or at common law or otherwise
(including in settlement of any litigation), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or is based upon (i) any untrue statement or alleged untrue statement of
a material fact contained in the Registration Statement, or any amendment thereto, including any information deemed to be a part thereof pursuant to Rule 430B under the Securities Act, or the omission or alleged omission therefrom of a material
fact required to be stated therein or necessary to make the statements therein not misleading; or (ii) any untrue statement or alleged untrue statement of a material fact contained in any Free Writing Prospectus that the Company has used,
referred to or filed, or is required to file, pursuant to Rule 433(d) of the Securities Act or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading; or (iii) any act or failure to act or any alleged act or failure to act by the Agent in connection with, or relating in any manner to, the
Common Shares or the offering contemplated hereby, and which is included as part of or referred to in any loss, claim, damage, liability or action arising out of or based upon any matter covered by clause (i) or (ii) above, provided that the
Company shall not be liable under this clause (iii) to the extent that a court of competent jurisdiction shall have determined by a final judgment that such loss, claim, damage, liability or action resulted directly from any such acts or
failures to act undertaken or omitted to be taken by the Agent through its bad faith or willful misconduct, and to reimburse the Agent and each such officer, employee and controlling person for any and all expenses (including the fees and
disbursements of counsel chosen by the Agent) as such expenses are reasonably incurred by the Agent or such officer, employee or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim,
damage, liability, expense or action; provided, however, that the foregoing indemnity agreement shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement
or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to the Company by the Agent expressly for use in the Registration Statement, any such Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto), it being understood and agreed that the only such information furnished by the Agent to the Company consists of the information described in subsection (b) below. The indemnity agreement
set forth in this Section 6(a) shall be in addition to any liabilities that the Company may otherwise have. 

(b)    Indemnification of the Company, its Directors and Officers. The Agent agrees to indemnify and hold harmless
the Company, each of its directors, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act against any loss, claim, damage, liability
or expense, as incurred, to which the Company or any such director, officer or controlling person may become subject, under the Securities Act, the Exchange Act, or other federal or state statutory law or

  
 27 

 
regulation, or the laws or regulations of foreign jurisdictions where Shares have been offered or sold or at common law or otherwise (including in settlement of any litigation), arises out of or
is based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, or any amendment thereto, including any information deemed to be a part thereof pursuant to Rule 430B under the
Securities Act, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading; or (ii) any untrue statement or alleged untrue statement of a material
fact contained in any Free Writing Prospectus that the Company has used, referred to or filed, or is required to file, pursuant to Rule 433(d) of the Securities Act or the Prospectus (or any amendment or supplement thereto), or the omission or
alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; but, for each of (i) and (ii) above, only to the extent arising
out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to the Company by the Agent expressly for use in the Registration
Statement, any such Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), it being understood and agreed that the only such information furnished by the Agent to the Company consists of the information set forth in the
ninth paragraph under the caption “Plan of Distribution” in the Prospectus, and to reimburse the Company and each such director, officer and controlling person for any and all expenses (including the fees and disbursements of counsel
chosen by the Company) as such expenses are reasonably incurred by the Company or such officer, director or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability,
expense or action. The indemnity agreement set forth in this Section 6(b) shall be in addition to any liabilities that the Agent or the Company may otherwise have. 

(c)    Notifications and Other Indemnification Procedures. Promptly after receipt by an indemnified party under
this Section 6 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 6, notify the
indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party will not relieve the indemnifying party from any liability which it may have to any indemnified party for contribution or otherwise than
under the indemnity agreement contained in this Section 6 or to the extent the indemnifying party is not materially prejudiced as a proximate result of such failure. In case any such action is brought against any
indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it shall elect, jointly with all other indemnifying
parties similarly notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party;
provided, however, that if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that a conflict may arise between the positions of the indemnifying
party and the indemnified party in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified parties which are different from or additional to those available to the indemnifying party,
the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon receipt of notice from the
indemnifying party to such indemnified party of such indemnifying party’s election so to assume 

  
 28 

 
the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 6 for
any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the preceding sentence
(it being understood, however, that the indemnifying party shall not be liable for the fees and expenses of more than one separate counsel (together with local counsel), representing the indemnified parties who are parties to such action), which
counsel (together with any local counsel) for the indemnified parties shall be selected by the Agent (in the case of counsel for the indemnified parties referred to in Section 6(a) and Section 6(b)
above), (ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement of the action or (iii) the indemnifying
party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party, in each of which cases the fees and expenses of counsel shall be at the expense of the indemnifying party and shall be paid
as they are incurred. 
 (d)    Settlements. The indemnifying party under this
Section 6 shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to
indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as contemplated by Section 6(c) hereof, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its
written consent if (i) such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance
with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened
action, suit or proceeding in respect of which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement, compromise or consent includes an
unconditional release of such indemnified party from all liability on claims that are the subject matter of such action, suit or proceeding. 

(e)    Contribution. If the indemnification provided for in this Section 6 is for any
reason held to be unavailable to or otherwise insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each indemnifying party shall contribute to the aggregate
amount paid or payable by such indemnified party, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred to therein (i) in such proportion as is appropriate to reflect the relative benefits received by the
Company, on the one hand, and the Agent, on the other hand, from the offering of the Shares pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and the Agent, on the other hand, in connection with the statements or omissions which resulted
in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Agent, on the other hand, in

  
 29 

 
connection with the offering of the Shares pursuant to this Agreement shall be deemed to be in the same respective proportions as the total gross proceeds from the offering of the Shares pursuant
to this Agreement (before deducting expenses) received by the Company bear to the total commissions received by the Agent. The relative fault of the Company, on the one hand, and the Agent, on the other hand, shall be determined by reference to,
among other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company, on the one hand, or the Agent, on the other hand, and
the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 The
amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Section 6(c), any legal or other
fees or expenses reasonably incurred by such party in connection with investigating or defending any action or claim. The provisions set forth in Section 6(c) with respect to notice of commencement of any action shall apply
if a claim for contribution is to be made under this Section 6(d); provided, however, that no additional notice shall be required with respect to any action for which notice has been given under
Section 6(c) for purposes of indemnification. 
 The Company and the Agent agree that it would not be just and
equitable if contribution pursuant to this Section 6(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in this
Section 6(d). 
 Notwithstanding the provisions of this Section 6(d), the Agent shall
not be required to contribute any amount in excess of the commissions and fees received by the Agent in connection with the offering contemplated hereby. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 6(d), each officer and employee of the Agent and each person, if
any, who controls the Agent within the meaning of the Securities Act or the Exchange Act shall have the same rights to contribution as the Agent, and each director of the Company, each officer of the Company who signed the Registration Statement,
and each person, if any, who controls the Company within the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as the Company. 

Section 7. TERMINATION & SURVIVAL 

(a)    Term. Subject to the provisions of this Section 7, the term of this Agreement shall
continue from the date of this Agreement until the end of the Agency Period, unless earlier terminated by the parties to this Agreement pursuant to this Section 7. 

(b)    Termination; Survival Following Termination. (i) Either party may terminate this Agreement prior to the
end of the Agency Period, by giving written notice as required by this Agreement, upon one Trading Day’s notice to the other party; provided that, (A) if the Company terminates this Agreement after the Agent confirms to the Company any
sale of Shares, the Company shall remain obligated to comply with Section 3(b)(v) with respect to such Shares and (B) Section 2, Section 6,
Section 7 and Section 8 shall survive termination of this Agreement. If 

  
 30 

 
termination shall occur prior to the Settlement Date for any sale of Shares, such sale shall nevertheless settle in accordance with the terms of this Agreement. 

(ii) In addition to the survival provision of Section 7(b)(i), the respective indemnities, agreements,
representations, warranties and other statements of the Company, of its officers and of the Agent set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Agent
or the Company or any of its or their partners, officers or directors or any controlling person, as the case may be, and, anything herein to the contrary notwithstanding, will survive delivery of and payment for the Shares sold hereunder and any
termination of this Agreement. 
 Section 8. MISCELLANEOUS 

(a)    Press Releases and Disclosure. The Company may issue a press release describing the material terms of the
transactions contemplated hereby as soon as practicable following the date of this Agreement, and may file with the Commission a Current Report on Form 8-K, with this Agreement attached as an exhibit
thereto, describing the material terms of the transactions contemplated hereby, and the Company shall consult with the Agent prior to making such disclosures, and the parties hereto shall use all commercially reasonable efforts, acting in good
faith, to agree upon a text for such disclosures that is reasonably satisfactory to all parties hereto. No party hereto shall issue thereafter any press release or like public statement (including, without limitation, any disclosure required in
reports filed with the Commission pursuant to the Exchange Act) related to this Agreement or any of the transactions contemplated hereby without the prior written approval of the other party hereto, except as may be necessary or appropriate in the
reasonable opinion of the party seeking to make disclosure to comply with the requirements of applicable law or stock exchange rules. If any such press release or like public statement is so required, the party making such disclosure shall consult
with the other party prior to making such disclosure, and the parties shall use all commercially reasonable efforts, acting in good faith, to agree upon a text for such disclosure that is reasonably satisfactory to all parties hereto. 

(b)    No Advisory or Fiduciary Relationship. The Company acknowledges and agrees that (i) the
transactions contemplated by this Agreement, including the determination of any fees, are arm’s-length commercial transactions between the Company and the Agent, (ii) when acting as a principal under
this Agreement, the Agent is and has been acting solely as a principal is not the agent or fiduciary of the Company, or its stockholders, creditors, employees or any other party, (iii) the Agent has not assumed nor will assume an advisory or
fiduciary responsibility in favor of the Company with respect to the transactions contemplated hereby or the process leading thereto (irrespective of whether the Agent has advised or is currently advising the Company on other matters) and the Agent
does not have any obligation to the Company with respect to the transactions contemplated hereby except the obligations expressly set forth in this Agreement, (iv) the Agent and its respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Company, and (v) the Agent has not provided any legal, accounting, regulatory or tax advice with respect to the transactions contemplated hereby and the Company has consulted its
own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate. 

  
 31 

 (c)    Research Analyst Independence. The Company acknowledges
that the Agent’s research analysts and research departments are required to and should be independent from their respective investment banking divisions and are subject to certain regulations and internal policies, and as such the Agent’s
research analysts may hold views and make statements or investment recommendations and/or publish research reports with respect to the Company or the offering that differ from the views of their respective investment banking divisions. The Company
understands that the Agent is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect transactions for its own account or the account of its customers and hold long or short positions in debt
or equity securities of the companies that may be the subject of the transactions contemplated by this Agreement. 

(d)    Notices. All communications hereunder shall be in writing, unless otherwise specified, to the parties hereto
as follows: 
 If to the Agent: 

Jefferies LLC 
 520 Madison Avenue

 New York, NY 10022 

Facsimile: 
 Attention: General
Counsel 
 with a copy to: 

Covington & Burling LLP 

620 Eighth Avenue 
 New York,
NY 10018 
 Facsimile: 646-441-9111 

Attention: Eric Blanchard 
 If to
the Company: 
 Bellicum Pharmaceuticals, Inc. 

2130 West Holcombe Blvd. 
 Suite
800 
 Houston, TX 77030 

Attention: Rick Fair 
 with a copy
to: 
 Cooley LLP 
 4401
Eastgate Mall 
 San Diego, CA 92121 

Attention: Karen E. Anderson 
 Any party hereto
may change the address for receipt of communications by giving written notice to the others in accordance with this Section 8(d). Each such notice or other communication shall

  
 32 

 
be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day or, if
such day is not a Business Day, on the next succeeding Business Day, (ii) by electronic communication (“Electronic Notice”) as set forth in the next paragraph, (iii) on the next Business Day after timely delivery to
a nationally-recognized overnight courier or (iv) on the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement,
“Business Day” shall mean any day on which Nasdaq and commercial banks in the City of New York are open for business.
 An
Electronic Notice shall be deemed written notice for purposes of this Section 8(d) if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the
party sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic
Notice”) which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice. 

(e)    Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto, and to the
benefit of the employees, officers and directors and controlling persons referred to in Section 6, and in each case their respective successors, and no other person will have any right or obligation hereunder. The term
“successors” shall not include any purchaser of the Shares as such from the Agent merely by reason of such purchase. 

(f)    Partial Unenforceability. The invalidity or unenforceability of any Article, Section, paragraph or provision
of this Agreement shall not affect the validity or enforceability of any other Article, Section, paragraph or provision hereof. If any Article, Section, paragraph or provision of this Agreement is for any reason determined to be invalid or
unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable. 

(g)    Governing Law Provisions. This Agreement shall be governed by and construed in accordance with the internal
laws of the State of New York applicable to agreements made and to be performed in such state. Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby (“Related
Proceedings”) may be instituted in the federal courts of the United States of America located in the Borough of Manhattan in the City of New York or the courts of the State of New York in each case located in the Borough of Manhattan in the
City of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the enforcement of a judgment of any such court (a
“Related Judgment”), as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail to such
party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action
or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient
forum. 

  
 33 

 (h)    General Provisions. This Agreement constitutes the entire
agreement of the parties to this Agreement and supersedes all prior written or oral and all contemporaneous oral agreements, understandings and negotiations with respect to the subject matter hereof. This Agreement may be executed in two or more
counterparts, each one of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument, and may be delivered by facsimile transmission or by electronic delivery of a portable document format
(PDF) file. This Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The
Article and Section headings herein are for the convenience of the parties only and shall not affect the construction or interpretation of this Agreement. 

[Signature Page Immediately Follows] 

  
 34 

 If the foregoing is in accordance with your understanding of our agreement, kindly sign and
return to the Company the enclosed copies hereof, whereupon this instrument, along with all counterparts hereof, shall become a binding agreement in accordance with its terms 

 

			
	Very truly yours,
	
	BELLICUM PHARMACEUTICALS, INC.
		
	By:	 	/s/ Richard A. Fair
		 	Name: Richard A. Fair
		 	Title: President and Chief Executive Officer

 The foregoing Agreement is hereby confirmed and accepted by the Agent in New York, New York as of the
date first above written. 
  

			
	JEFFERIES LLC
		
	By:	 	/s/ Dustin Tyner
		 	Name: Dustin Tyner
		 	Title: Managing Director

 EXHIBIT A 

ISSUANCE NOTICE 
 [Date] 

Jefferies LLC 
 520 Madison Avenue 

New York, New York 10022 
  

			
	 Attn:
	 	 [__________]

 Reference is made to the Open Market Sale Agreement between __________ (the “Company”) and Jefferies LLC (the
“Agent”) dated as of ________ ___, 20__. The Company confirms that all conditions to the delivery of this Issuance Notice are satisfied as of the date hereof. 

Date of Delivery of Issuance Notice (determined pursuant to Section 3(b)(i)): 

	
	   

 Issuance Amount (equal to the total Sales Price for such Shares): 

 

							
	 	    	$                                
                    	 	  	 
		    	  
	  
	 	  	
			
	 First Date of Selling Period:
	    				  	
		    	  
	  
	 	  	
			
	 Last Date of Selling Period:
	    				  	
		    	  
	  
	 	  	
	
	Settlement Date(s) if other than standard T+2 settlement:
			
		    				  	
		    	  
	  
	 	  	

 Floor Price Limitation (in no event less than $1.00 without the prior written consent of the Agent, which consent may be
withheld in the Agent’s sole discretion): $ ____ per share 
  

			
	Comments:	 	 

  

			
	
	   

		
	By:	 	 
		 	Name:
		 	Title:

  
 A-1

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