Document:

EX-10.2

 Exhibit 10.2 
  

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

 January 29, 2016 
 Amber
Salzman, Ph.D. 
 227 N. Bowman Ave. 
 Merion Station, PA 19066

 Re: Employment Terms for President 
 Dear Amber,

 In connection with the acquisition (the “Acquisition”) of all outstanding shares of Annapurna Therapeutics SAS (the
“Target”) by Avalanche Biotechnologies, Inc. (the “Company”), this letter agreement (the “Agreement”) memorializes the employment terms for your employment with the Company in the position of President and Chief
Operating Officer of the Company. These terms will become effective on the closing of the Acquisition (the “Closing Date”). In the event the Acquisition is not consummated, this Agreement shall be of no force or effect. Your first day of
work as President and Chief Operating Officer will be the Closing Date. The Company shall take all necessary and appropriate steps to effect your appointment to the Board of Directors of the Company (the “Board”), effective upon the
Closing Date. 
 Effective as of the Closing Date, your employment terms will be as follows: 

 

	1.	Duties; Reporting Relationship; Office Location. 

 In the position of President and
Chief Operating Officer, you will serve in an executive capacity and will be required to perform the duties of President and Chief Operating Officer as commonly associated with this position, and other duties commensurate with such position as may
be assigned to you by the Chief Executive Officer of the Company (“CEO”) from time to time. You will report directly to the CEO, and will work at the Company’s offices located in Philadelphia, Pennsylvania. 

 

	2.	Compensation and Benefits. 

 Your base salary will be Five Hundred Thousand Dollars
($500,000) annually, subject to payroll deductions and all required withholdings, representing full-time employment with the Company. Your salary will be paid in accordance with the Company’s standard payroll schedule. 

In addition, for each calendar year starting with 2016 you will be eligible to earn an annual performance bonus with a target bonus amount
equal to forty-five percent (45%) of your salary earned during the bonus year, provided that you are actively employed from the Closing Date through and including the date of bonus grants. Your annual bonus will be calculated based on
attainment of individual goals (including corporate and personal objectives) to be determined by the Board. Bonus payments will be in the form of cash and will be granted entirely at the discretion of the Board. Any cash bonus payments will be less
payroll deductions and all required withholdings. 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

 You will be eligible to participate in the Company’s general employee benefits in
accordance with the terms, conditions and limitations of the benefit plans to the extent such plans have been established by the Company. 
  

	3.	Stock Options. 

 In addition to the compensation and benefits described above, the Company will grant
you, upon the Closing Date, a stock option which, when combined with the Rollover Options (as defined below) will give you options to purchase an aggregate of three percent (3%) of the outstanding shares of the Company’s common stock
(based on basic shares outstanding as measured immediately following the consummation of the Acquisition), with the new option grant provided in this Section 3 having a per share exercise price equal to the closing sales price of the
Company’s common stock on the Closing Date and providing that the new option shall vest with respect to 25% of the total option shares on the first anniversary of the Closing Date, and 1/48th
of the total option shares shall vest each month thereafter so that all of the shares subject to the new option are vested and exercisable on the fourth anniversary of the Closing Date. The Company shall file a registration statement on Form S-8 on
or prior to the first anniversary of the Closing Date, registering the offer of the shares of the Company’s common stock subject to the foregoing stock option. For purposes of calculating the number of options required to give you options to
purchase an aggregate of three percent (3%) of the outstanding shares of the Company’s common stock (as described above), the option grant described in this Section 3 shall be combined with the options to purchase Company common stock
which you will receive pursuant to the rollover of your stock options in Target pursuant to the Acquisition agreement (the “Rollover Options”). For good and valuable consideration, you agree that any acceleration of the Rollover Options
(either alone or in combination with another event) which may have occurred in connection with the Acquisition and the other transactions contemplated by the Acquisition agreement is hereby waived, it being further agreed that any such acceleration
shall apply in the event of a change in control transaction involving the Company following the consummation of the Acquisition. 
  

	4.	Confidentiality and Proprietary Information Obligations. 

  

	 	(a)	 Company Policies and Proprietary Information Agreement. You will be required to sign the Employee Proprietary Information and Inventions Assignment
Agreement attached hereto as Exhibit A (the “Proprietary Information Agreement”). 

  

	 	(b)	 Adverse or Outside Business Activities. Throughout your employment with the Company, you may engage in civic, academic teaching and lectures, and
not-for-profit activities and up to two for-profit boards so long as such activities do not interfere with the performance of your duties hereunder or present a conflict of 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

	 	 
interest with the Company. You may not engage in other employment or undertake any other commercial business activities unless you obtain the prior written consent of the Board. The Company may
rescind its consent to your service as a director of all other corporations or participation in other business or public activities, if the Company, in its sole discretion, determines that such activities compromise or threaten to compromise the
Company’s reputational or business interests or conflict with your duties to the Company. In addition, throughout the term of your employment with the Company, you agree not to, directly or indirectly, without the prior written consent of the
Company, own, manage, operate, join, control, finance or participate in the ownership, management, operation, control or financing of, or be connected as an officer, director, executive, partner, employee, principal, agent, representative,
consultant, licensor, licensee or otherwise with, any business or enterprise engaged in any business which is competitive with or which is reasonably anticipated to be competitive with the Company’s business; provided, however, that you may
purchase or otherwise acquire up to (but not more than) one percent (1%) of any class of securities of any enterprise (but without participating in the activities of such enterprise) if such securities are listed on any national or regional
securities exchange. You hereby represent and warrant that you have disclosed previously to the Board all other employment or other commercial business activities that you already undertake, or intend to undertake (to the extent currently known by
you), during your period of employment with the Company. 

  

	5.	Change in Control and Severance Agreement. 

 Concurrently with the execution of this
Agreement, you and the Company shall enter into the Change in Control and Severance Agreement attached hereto as Exhibit B (the “Severance Agreement”). 
  

	6.	No Conflicts. 

 By signing this Agreement you hereby represent to the Company that,
except as previously disclosed to the Company: (a) your employment with the Company is not prohibited under any employment agreement or other contractual arrangement; and (b) you do not know of any conflicts which would restrict your
employment with the Company. You hereby represent that you have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company, and that you are presently in compliance with such contracts, if any.

  

	7.	At Will Employment. 

 Your employment relationship with the Company will be an
“at-will” arrangement. This means that either you or the Company may terminate your employment at any time, with or without cause, and with or without advance notice. This “at-will” employment relationship cannot be changed
except in a written agreement approved by the Company and signed by you and by a duly authorized officer of the Company. 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

	8.	Miscellaneous. 

 As required by law, your employment is contingent upon satisfactory
proof of your identity and legal authorization to work in the United States. Additionally, this offer is contingent upon your completion of the employment application, verification of your references, satisfactory completion of a pre-employment
background check (all of which will be completed by the Company prior to the Closing Date) and execution of the Employee Confidentiality and Invention Assignment Agreement and the Acknowledgment of Business Ethics and Conduct Guide and Company
Policies. 
 Except as specifically set forth in the subsequent paragraph, this Agreement, together with your Proprietary Information Agreement, forms the
complete and exclusive statement of your employment agreement with the Company. The employment terms in this Agreement supersede any other agreements or promises made to you by anyone, whether oral or written, concerning your employment terms.
Without limitation of your rights under the Severance Agreement, the Company will have the right to reassign you, to change your compensation, or to terminate your employment at any time, with or without cause or advance notice. This Agreement will
bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid
or unenforceable, in whole or in part, this determination shall not affect any other provision of this Agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties
insofar as possible under applicable law. This Agreement shall be construed and enforced in accordance with the laws of the State of California without regard to conflicts of law principles. Any ambiguity in this Agreement shall not be construed
against either party as the drafter. Any waiver of a breach of this Agreement, or rights hereunder, shall be in writing and shall not be deemed to be a waiver of any successive breach or rights hereunder. This Agreement may be executed in
counterparts, which shall be deemed to be part of one original, and facsimile signatures shall be equivalent to original signatures. 
 Notwithstanding the
preceding paragraph, following the Closing Date you shall remain entitled to (i) the transaction bonus of Two Hundred Thousand Dollars ($200,000) awarded to you by the board of directors of Target (which, to the extent unpaid at the Closing
Date, the Company will cause to be paid within five (5) business days of the Closing Date) and (ii) to the extent unpaid at the Closing Date, the grossed-up tax equalization payments due to you from Target with respect to your service as a
French employee in 2014 and 2015, which the Company will cause to be paid in accordance with Target’s existing practices with respect to such payments. 

[Signature page immediately follows] 

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

 Please sign and date this letter and return it to me by the close of business on Friday, January 29,
2016, in order to confirm your employment terms as set forth above. 
 We look forward to a productive and enjoyable work relationship with you. 

 

			
	Sincerely,
	Avalanche Biotechnologies, Inc.:
		
	By:	 	 /s/ Paul B. Cleveland

	Name:	 	Paul B. Cleveland
	Title:	 	President & Chief Executive Officer
	
	Understood and Accepted:
	
	 /s/ Amber Salzman

	Amber Salzman Ph.D.
	
	Date: Jan 29, 2016

  

			
	

	  	 1035 O’Brien Drive, Menlo Park, CA 94025

Tel +1-650-272-6269 | Fax +1-650-362-1908

  

 EXHIBIT A 

EMPLOYEE CONFIDENTIALITY AND INVENTION ASSIGNMENT AGREEMENT 

       

      
  

 Avalanche Biotechnologies, Inc. 

EMPLOYEE CONFIDENTIALITY AND INVENTION ASSIGNMENT AGREEMENT 

In partial consideration and as a condition of my employment by AVALANCHE BIOTECHNOLOGIES, (the
“Company”), and effective as of the date that my employment by the Company first commenced as set forth below, I, the undersigned, agree as follows: 
  

	1.	NONDISCLOSURE OF CONFIDENTIAL INFORMATION. 

1.1.     Confidential Information. During the term of my employment, I may receive and otherwise be
exposed to confidential and proprietary information relating to the Company’s business, strategies, designs and technologies, or to proprietary or confidential information relating to the Company’s suppliers, customers or business
partners. Such confidential and proprietary information may include but not be limited to confidential or proprietary information supplied to me with the legend “Confidential” or “Proprietary,” or equivalent, and any of the
following types of information, whether or not marked as confidential or proprietary: (i) information regarding physical or chemical or biological materials (such as, but not limited to, reagents, gene sequences, nucleic acids, cell lines,
media, antibodies, compounds, c-DNAs, antisense nucleotides, proteins and vectors) and techniques for their handling and use; (ii) information regarding ideas, technology and processes (such as, but not limited to, assays, techniques, sketches,
schematics, drawings, works of authorship, models, designs, inventions, know-how, technical documentation, equipment, algorithms, software programs, software source documents, formulae); (iii) information concerning or resulting from research
and development projects and other projects (such as, but not limited to, preclinical and clinical data, design details and specifications, engineering information, and works in process); (iv) business and financial information (such as, but
not limited to, current, future, and proposed products and services, financial information and models, information relating to procurement requirements, purchasing, manufacturing, customer lists, product plans, product ideas, business strategies,
marketing or business plans, financial or personnel matters, investors, employees, business and contractual relationships, business forecasts, sales and merchandising, and information regarding third parties, suppliers, customers, employees,
investors or facilities); (v) Inventions (as defined below), and (iv) information, derivatives, improvements or enhancements created using the foregoing information. (all of the above collectively referred to as “Confidential
Information”). I understand that Confidential Information shall not include information that (a) is in the public domain at the time of disclosure or enters the public domain following disclosure through no fault of mine, (b) is
already in my possession prior to disclosure hereunder (as reflected by my written records), or (c) is required to be disclosed pursuant to an order of any competent court or government agency or rules of a securities exchange. 

1.2.     Duties. I acknowledge the confidential and secret character of the Confidential
Information, and agree that the Confidential Information is the sole, exclusive and extremely valuable property of Company. Accordingly, I agree not to use the Confidential Information except in the performance of my authorized duties as an employee
of Company, and not to disclose all or any part of the Confidential Information in any form to any third party, either during or after the term of my employment, without the prior written consent of the Company on a case-by-case basis. Appropriate
prior written consent will be determined as follows: (i) if I am  

  
 1 

       

      
  

 
not an executive officer of the Company, then consent may be obtained from an executive officer of the Company, or (ii) if I am an executive officer of the Company, then from the Board of
Directors of the Company. Upon termination of my employment, I agree to cease using and to return to Company all whole and partial copies and derivatives of the Confidential Information, whether in my possession or under my direct or indirect
control, provided that I am entitled to retain my personal copies of (i) my compensation records, (ii) materials distributed to shareholders generally and (iii) this Agreement. 

2.      PROPERTY OF THE COMPANY. All notes, memoranda, reports, drawings, blueprints, manuals, materials,
data, emails and other papers and records of every kind which shall come into my possession at any time after the commencement of my employment with the Company, relating to any Inventions (as defined below) or Confidential Information, shall be the
sole and exclusive property of the Company. This property shall be surrendered to the Company upon termination of my employment with the Company, or upon request by the Company, at any other time either during or after the termination of such
employment. I further agree that in the event of termination of my employment with the Company I will execute a Termination Certificate substantially in the form attached hereto as Exhibit A. 

 

	3.	 INVENTIONS. 

3.1.     Disclosure. I shall disclose promptly in writing to an officer or to attorneys of the
Company in accordance with the Company’s policies and procedures any idea, invention, work of authorship, whether patentable or unpatentable, copyrightable or uncopyrightable, including, but not limited to, any documentation, formula, design,
device, code, improvement, method, process, discovery, concept, development, machine or contribution, techniques, formulas, formulations, data, programs, organisms, plasmids, cosmids, bacteriophages, expression vectors, cells, cell lines, tissues,
materials, substrates, media, delivery methods or transfection methods, assays, compounds, peptides, proteins, DNA, RNA, and their constructs, and sequence, genomic, and structural information relating thereto, crystals, optically active materials,
ceramics, metals, metal oxides, and organic and inorganic chemical, biological and other material and their progeny, clones and derivatives and salt forms (any of the foregoing items hereinafter referred to as an “Invention”) I may
conceive, make, develop or work on, in whole or in part, solely or jointly with others, during the term of my employment with the Company. The disclosure required by this Section applies (a) during the period of my employment with the Company
and for one year thereafter; (b) with respect to all Inventions whether or not they are conceived, made, developed or worked on by me during my regular hours of employment with the Company; (c) whether or not the Invention was made at the
suggestion of the Company; (d) whether or not the Invention was reduced to drawings, written description, documentation, models or other tangible form; and (e) whether or not the Invention is related to the general line of business engaged
in by the Company. The Company agrees that it will take reasonable precautions to keep Inventions disclosed to it pursuant to this Section 3.1 in confidence and shall not use any Inventions for its own advantage unless those Inventions are
assigned or assignable to the Company pursuant to Section 3.2 or otherwise. 

  

       

      
  

 3.2.     Assignment of Inventions to Company;
Exemption of Certain Inventions. I hereby assign to the Company, and agree to assign automatically without requirement of further writing when first reduced to practice or recorded in a tangible medium, without royalty or any other further
consideration, my entire right, title and interest in and to all Inventions and all intellectual property rights therein that (i) relate to the subject matters related to my employment and exist as of the date of this Agreement, for which I do
not have an obligation to assign to any third party or (ii) I conceive, make, develop or work on during the period of my employment with the Company and for one year thereafter, except those Inventions that I develop entirely on my own time
after the date of this Agreement without using the Company’s equipment, supplies, facilities or Confidential Information, unless those Inventions either (a) relate at the time of conception or reduction to practice of the Invention to the
Company’s business, or actual or demonstrably anticipated research or development of the Company; or (b) result from or are related to any work performed by me for the Company, in which case I agree that any such Inventions shall also be
automatically assigned to the Company. I acknowledge and agree that the Company has hereby notified me that the assignment provided for in Section 3.2(ii) does not apply to any Invention which qualifies fully for exemption from assignment under
the provisions of Section 2870 of the California Labor Code, a copy of which is attached as Exhibit B. I also acknowledge and agree that nothing in this Section 3.2 above limits the assignment of any other rights in or to Confidential
Information or other technology or intellectual property of the Company other than Inventions. 

3.3.     Records. I will make and maintain adequate and current written records of all Inventions
covered by Section 3.1. These records shall be and remain the property of the Company. 

3.4.     Patents and Other Rights. Subject to Section 3.2, I will assist the Company in
obtaining, maintaining and enforcing patents, invention assignments and copyright assignments, and other proprietary rights in connection with any Invention covered by Section 3.1, and otherwise will assist the Company as reasonably required by
the Company to perfect in the Company the rights, title and other interests in my work product granted to the Company under this Agreement. Reasonable costs related to such assistance, if required, will be paid by the Company. I further agree that
my obligations under this Section 3.4 shall continue beyond the termination of my employment with the Company, but if I am called upon to render such assistance after the termination of such employment, I shall be entitled to a fair and
reasonable rate of compensation for such assistance. I shall, in addition, be entitled to reimbursement of any expenses incurred at the request of the Company relating to such assistance after the term of my employment. I hereby agree to waive any
moral rights I may have in any copyrightable work I create on behalf of the Company. If the Company is unable for any reason, after reasonable effort, to secure my signature on any document needed in connection with the actions specified above, I
hereby irrevocably designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, which appointment is coupled with an interest, to act for and in my behalf to execute, verify and file any such
documents and to do all other lawfully permitted acts to further the purposes of this Section 3.4 with the same legal force and effect as if executed by me. 

3.5.     Prior Contracts and Inventions; Information Belonging to Third Parties. I represent and
warrant that, except as set forth on Exhibit C hereto, there are no other contracts to assign Inventions that are now in existence between any other person or entity and me. I further represent that (a) I am not obligated under any consulting,
employment or other agreement which would affect the Company’s rights or my duties under this Agreement, (b) there is no action,  

  

       

      
  

 
investigation, or proceeding pending or threatened, or any basis therefor known to me involving my prior employment or any consultancy or the use of any information or techniques alleged to
be proprietary to any former employer, and (c) the performance of my duties as an employee of the Company will not breach, or constitute a default under any agreement to which I am bound, including, without limitation, any agreement limiting
the use or disclosure of proprietary information acquired in confidence prior to engagement by the Company. I will not, in connection with my employment by the Company, use or disclose to the Company any confidential, trade secret or other
proprietary information of any previous employer or other person to which I am not lawfully entitled. As a matter of record, I attach as Exhibit C of this Agreement a brief description of all Inventions made or conceived by me prior to my employment
with the Company which I desire to be excluded from this Agreement (“Background Technology”). I hereby grant Company a non-exclusive, royalty-free, perpetual and irrevocable, worldwide right to use and sublicense the use of
Background Technology for the purpose of developing, marketing, selling and supporting Company technology, products and services, either directly or through multiple tiers of distribution, but not for the purpose of marketing Background Technology
separately from Company products or services. 
 4.       NON-COMPETITION. During the term of my
employment by the Company, I will not without the prior written approval of (i) an executive officer of the Company, in the event that I am not an executive officer of the Company, and (ii) the Board of Directors of the Company, in the
event that I am an executive officer of the Company, (a) engage in any other professional employment or consulting, or (b) directly or indirectly participate in or assist any business which is a current or potential supplier, customer or
competitor of the Company. 
 5.       NON-SOLICITATION. During the term of my employment with
the Company and for a period of one (1) year thereafter, I will not solicit or encourage, or cause others to solicit or encourage, any employees of the Company to terminate their employment with the Company. During the term of my employment
with the Company, I will not solicit the business of any customer or client of the Company on my own behalf or on behalf of any person or entity other than the Company. 

6.       MISCELLANEOUS. The parties’ rights and obligations under this Agreement will bind and inure
to the benefit of their respective successors, heirs, executors, and administrators and permitted assigns. I will not assign this Agreement or its obligations hereunder without the prior written consent of the Company and any such purported
assignment without consent shall be null and void from the beginning. This Agreement constitutes the parties’ final, exclusive and complete understanding and agreement with respect to the subject matter hereof, and supersede all prior and
contemporaneous understandings and agreements relating to its subject matter. This Agreement may not be waived, modified or amended unless mutually agreed upon in writing by both parties. In the event any provision of this Agreement is found to be
legally unenforceable, such unenforceability shall not prevent enforcement of any other provision of the Agreement. I acknowledge that the Company will suffer substantial damages not readily ascertainable or compensable in terms of money in the
event of the breach of any of my obligations under this Agreement. I therefore agree that the Company shall be entitled (without limitation of any other rights or remedies otherwise available to the Company) to obtain an injunction from any court of
competent jurisdiction prohibiting the continuance or recurrence of any breach of this Agreement. The rights and obligations of the parties under this Agreement shall be governed in  

  

       

      
  

 
all respects by the laws of the State of California exclusively, without regard to conflict of law provisions. I agree that upon Company’s request, all disputes arising hereunder shall be
adjudicated in the state and federal courts having jurisdiction over disputes arising in San Francisco, California, and I hereby agree to consent to the personal jurisdiction of such courts. Any notices required or permitted hereunder shall be given
to the appropriate party at the address specified above or at such other address as the party shall specify in writing. Such notice shall be deemed given upon personal delivery, or sent by certified or registered mail, postage prepaid, three
(3) days after the date of mailing. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. This Agreement
supersedes and replaces the Confidential Information and Invention Assignment Agreement previously entered into between you and Annapurna Therapeutics SAS. 

  

       

      
  

 I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS WHICH IT
IMPOSES UPON ME WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS AGREEMENT. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT THE COMPANY WILL RETAIN ONE
COUNTERPART AND THE OTHER COUNTERPART WILL BE RETAINED BY ME. 
 IN WITNESS WHEREOF, I have executed this document as of the 29th day of January, 2016. 
  

	
	/s/Amber Salzman                                  
              
	Employee

 AGREED AND ACKNOWLEDGED: 
  

			
	Avalanche Biotechnologies	 	
		
	By: /s/ Paul B. Cleveland                              
       	 	
	Name: Paul B. Cleveland 	 	
	Title:   President & Chief Executive Officer 	 	

  
 6 

 EXHIBIT A 

TO 
 EMPLOYEE CONFIDENTIALITY AND
INVENTION ASSIGNMENT AGREEMENT 
 Termination Certificate 

I, the undersigned, hereby certify that I do not have in my possession, nor have I failed to return, any documents or
materials relating to the business of Company or its affiliates (the “Company”), or copies thereof, including, without limitation, any item of Confidential Information listed in Section 3 of the Company’s Employee Confidentiality
And Inventions Assignment Agreement (the “Agreement”) to which I am a party. 
 I further certify that I have
complied with all of the terms of the Agreement signed by me, including the reporting of any Inventions (as defined in the Agreement) covered by the Agreement. 

I further agree that in compliance with the Agreement, I will preserve as confidential any information relating to the
Company or any of it business partners, clients, consultants or licensees which has been disclosed to me in confidence during the course of my employment by the Company unless authorized in writing to do so (i) by an executive officer of the
Company, in the event that I am not an executive officer of the Company, or (ii) by the Board of Directors of the Company, in the event that I am an executive officer of the Company. 

 

			
	Date:                     	 	                                      
           
		 	(Employee’s Signature)
		
		 	                                      
           
		 	(Printed or Typed Name of Employee)
		 	

 EXHIBIT B 

TO 
 EMPLOYEE CONFIDENTIALITY AND
INVENTION ASSIGNMENT AGREEMENT 
 California Labor Code 

California Labor Code § 2870. Application of provision providing that employee shall assign or offer to assign rights in invention
to employer. 
  

	 	(a)	 Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention
to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that
either: 

  

	 	(1)	 Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated
research or development of the employer; or 

  

	 	(2)	 Result from any work performed by the employee for the employer. 

 

	 	(b)	 To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required
to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 

 EXHIBIT C 

TO 
 EMPLOYEE CONFIDENTIALITY AND
INVENTION ASSIGNMENT AGREEMENT 
 (List here prior contracts to assign Inventions that are now in existence between any other person or
entity and you.) 
  
 (List here previous Inventions which you desire
to have specifically excluded from the operation of this Agreement. Continue on reverse side if necessary. 

 EXHIBIT B 

CHANGE IN CONTROL AND SEVERANCE AGREEMENTEX-10.3

 Exhibit 10.3 

AVALANCHE BIOTECHNOLOGIES, INC. 

CHANGE IN CONTROL AND SEVERANCE AGREEMENT 

This Change in Control and Severance Agreement (the “Agreement”) is made and entered into by and between Amber Salzman
(“Executive”) and Avalanche Biotechnologies, Inc. (the “Company”), effective as of the latest date set forth by the signatures of the parties hereto below (the “Effective Date”). 

R E C I T A L S 

A.       Executive and the Company are entering into the Offer Letter, dated as of the Effective Date (the
“Offer Letter”), concurrently with the execution of this Agreement. 
 B.       It is expected that
the Company from time to time will consider the possibility of an acquisition by another company or other change in control. The Board of Directors of the Company (the “Board”) recognizes that such consideration as well as the possibility
of an involuntary termination or reduction in responsibility can be a distraction to Executive and can cause Executive to consider alternative employment opportunities. The Board has determined that it is in the best interests of the Company and its
stockholders to assure that the Company will have the continued dedication and objectivity of Executive, notwithstanding the possibility, threat or occurrence of such an event. 

C.       The Board believes that it is in the best interests of the Company and its stockholders to provide
Executive with an incentive to continue Executive’s employment and to motivate Executive to maximize the value of the Company upon a Change in Control (as defined below) for the benefit of its stockholders. 

D.       The Board believes that it is imperative to provide Executive with severance benefits upon certain
terminations of Executive’s service to the Company that enhance Executive’s financial security and provide incentive and encouragement to Executive to remain with the Company notwithstanding the possibility of such an event. 

E.       Certain capitalized terms used in this Agreement are defined in Section 7 below. 

The parties hereto agree as follows: 

1.       Term of Agreement. This Agreement shall become effective as of the Closing Date (as defined in
the Offer Letter) and terminate upon the date that all obligations of the parties hereto with respect to this Agreement have been satisfied. 

2.       At-Will Employment. The Company and Executive acknowledge that Executive’s employment is
and shall continue to be “at-will,” as defined under applicable law. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as
provided by this Agreement. 

 3.       Covered Termination Other Than During a Change in
Control Period. If Executive experiences a Covered Termination other than during a Change in Control Period, and if Executive delivers to the Company a general release of all claims against the Company and its affiliates that becomes effective
and irrevocable within sixty (60) days, or such shorter period of time specified by the Company, following such Covered Termination (a “Release of Claims”), then in addition to any accrued but unpaid salary, bonus, vacation and
expense reimbursement payable in accordance with applicable law, the Company shall provide Executive with the following: 

(a)       Severance. Executive shall be entitled to receive an amount equal to twelve (12) months
of Executive’s Base Salary, payable in substantially equal installments in accordance with the Company’s normal payroll policies, less applicable withholdings; provided, however, that no payments under this Section 3(a) shall
be made prior to the first payroll date occurring on or after the sixtieth (60th) day following the date of the Covered Termination (such payroll date, the “First Payroll Date”), and any amounts otherwise payable prior to the
First Payroll Date shall be paid on the First Payroll Date without interest thereon. 
 (b)      
Continued Healthcare. If Executive elects to receive continued healthcare coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall directly pay, or
reimburse Executive for, the premium for Executive and Executive’s covered dependents through the earlier of (i) the first anniversary of the date of Executive’s termination of employment and (ii) the date Executive and
Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s). Notwithstanding the foregoing, (i) if any plan pursuant to which such benefits are provided is not, or ceases prior to
the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Code under Treasury Regulation Section 1.409A-1(a)(5), or (ii) the Company is otherwise unable to continue to cover
Executive under its group health plans without penalty under applicable law (including without limitation, Section 2716 of the Public Health Service Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter
be paid to Executive in substantially equal monthly installments. After the Company ceases to pay premiums pursuant to this Section 3(b), Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in
accordance the provisions of COBRA. 
 4.       Covered Termination During a Change in Control Period.
If Executive experiences a Covered Termination during a Change in Control Period, and if Executive delivers to the Company a Release of Claims that becomes effective and irrevocable within sixty (60) days, or such shorter period of time
specified by the Company, following such Covered Termination, then in addition to any accrued but unpaid salary, bonus, vacation and expense reimbursement payable in accordance with applicable law, the Company shall provide Executive with the
following: 
 (a)       Severance. Executive shall be entitled to receive an amount equal to one and
one-half (1.5) times the sum of: (i) Executive’s Base Salary and (ii) target annual bonus for the year in which Executive’s termination occurs. Such amount shall be payable in a cash lump sum, less applicable withholdings,
on the sixtieth (60th) day after the date of the Covered Termination. 

  
 -2- 

 (b)       Equity Awards. Each outstanding equity award,
including, without limitation, each stock option and restricted stock award, held by Executive shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of repurchase thereon shall immediately lapse,
in each case, with respect to one-hundred percent (100%) of the unvested shares of Company common stock subject to such equity award. 

(c)       Continued Healthcare. If Executive elects to receive continued healthcare coverage pursuant to
the provisions of COBRA, the Company shall directly pay, or reimburse Executive for, the premium for Executive and Executive’s covered dependents through the earlier of (i) the eighteen (18) month anniversary of the date of
Executive’s termination of employment and (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under another employer’s plan(s). Notwithstanding the foregoing, (i) if
any plan pursuant to which such benefits are provided is not, or ceases prior to the expiration of the period of continuation coverage to be, exempt from the application of Section 409A of the Code under Treasury Regulation
Section 1.409A-1(a)(5), or (ii) the Company is otherwise unable to continue to cover Executive under its group health plans without penalty under applicable law (including without limitation, Section 2716 of the Public Health Service
Act), then, in either case, an amount equal to each remaining Company subsidy shall thereafter be paid to Executive in substantially equal monthly installments. After the Company ceases to pay premiums pursuant to this Section 4(c), Executive
may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance the provisions of COBRA. 

5.       Other Terminations. If Executive’s service with the Company is terminated by the Company or
by Executive for any or no reason other than as a Covered Termination, then Executive shall not be entitled to any benefits hereunder other than accrued but unpaid salary, bonus, vacation and expense reimbursement in accordance with applicable law
and to elect any continued healthcare coverage as may be required under COBRA or similar state law. 

6.       Limitation on Payments. Notwithstanding anything in this Agreement to the contrary, if any
payment or distribution Executive would receive pursuant to this Agreement or otherwise (“Payment”) would (a) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as
amended (the “Code”), and (b) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either be (i) delivered in full, or
(ii) delivered as to such lesser extent which would result in no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the
Excise Tax, results in the receipt by Executive on an after-tax basis, of the largest payment, notwithstanding that all or some portion the Payment may be taxable under Section 4999 of the Code. The accounting firm engaged by the Company for
general audit purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made
hereunder. The accounting firm shall provide its calculations to the Company and Executive within fifteen (15) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or
Executive) or such other time as requested by the Company or Executive. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and Executive. Any reduction in payments and/or
benefits pursuant to this Section 6 will occur in the following order: (1) reduction of cash payments; (2) cancellation of accelerated vesting of equity awards other than stock options; (3) cancellation of accelerated vesting of
stock options; and (4) reduction of other benefits payable to Executive. 

  
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 7.       Definition of Terms. The following terms referred
to in this Agreement shall have the following meanings: 
 (a)       Base Salary. “Base
Salary” means Executive’s annual base salary in effect immediately prior to Executive’s termination (disregarding any reduction in base salary that would give rise to Executive’s right to a Constructive Termination). 

(b)       Cause. “Cause” will be determined in the sole discretion of the Board and will mean
misconduct, including: (i) conviction of any felony or any crime involving moral turpitude or dishonesty; (ii) willful and material breach of Executive’s duties that has not been cured within 30 days after written notice from the
Board; (iii) intentional and material damage to the Company’s property; or (iv) material breach of the Confidential Information Agreement (as defined below). 

(c)       Change in Control. “Change in Control” shall mean the occurrence, in a single
transaction or in a series of related transactions, of any one or more of the following events: 
 (i)      
A transaction or series of transactions (other than an offering of Common Stock to the general public through a registration statement filed with the Securities and Exchange Commission) whereby any “person” or related “group” of
“persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than the Company, any of its subsidiaries, an employee benefit plan maintained by
the Company or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership
(within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s securities outstanding immediately after such acquisition; or 

(ii)       During any period of two consecutive years, individuals who, at the beginning of such period,
constitute the Board together with any new director(s) (other than a director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in Section 7(c)(i) or 7(c)(iii)) whose election by
the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the two-year period or whose election or
nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 

(iii)       The consummation by the Company (whether directly involving the Company or indirectly involving the
Company through one or more intermediaries) of (x) a merger, consolidation, reorganization, or business combination or (y) a sale or other disposition of all or substantially all of the Company’s assets in any single transaction or
series of related transactions or (z) the acquisition of assets or stock of another entity, in each case other than a transaction: (A) which results in the Company’s voting securities outstanding immediately before the transaction
continuing to represent (either by remaining outstanding or by being converted into voting securities 

  
 -4- 

 
of the Company or the person that, as a result of the transaction, controls, directly or indirectly, the Company or owns, directly or indirectly, all or substantially all of the Company’s
assets or otherwise succeeds to the business of the Company (the Company or such person, the “Successor Entity”)) directly or indirectly, at least a majority of the combined voting power of the Successor Entity’s outstanding voting
securities immediately after the transaction, and (B) after which no person or group beneficially owns voting securities representing 50% or more of the combined voting power of the Successor Entity; provided, however, that no person or group
shall be treated for purposes of this clause (B) as beneficially owning 50% or more of the combined voting power of the Successor Entity solely as a result of the voting power held in the Company prior to the consummation of the transaction; or

 (iv)       The Company’s stockholders approve a liquidation or dissolution of the Company. 

Notwithstanding the foregoing, in no event shall a transaction constitute a Change in Control unless such transaction also constitutes a
“change in control event” within the meaning of Section 409A of the Code and the Treasury regulations promulgated thereunder. 

(d)       Change in Control Period. “Change in Control Period” means the period of time
beginning three (3) months prior to and ending twelve (12) months following a Change in Control. 

(e)       Constructive Termination. “Constructive Termination” means any of the following
actions taken without Cause by the Company or a successor corporation or entity without Executive’s consent: (i) substantial reduction of Executive’s rate of compensation; (ii) material reduction in Executive’s duties,
provided, however, that a change in job position (including a change in title) shall not be deemed a “material reduction” unless Executive’s new duties are substantially reduced from the prior duties; (iii) failure or refusal of
a successor to the Company to assume the Company’s obligations under this Agreement in the event of a Change in Control; (iv) relocation of Executive’s principal place of employment or service to a place greater than 50 miles from the
Executive’s then current principal place of employment or service; (v) the requirement to increase the amount of time per week that Executive provides services to the Company or (vi) the requirement that the Executive cease other
employment or consulting engagements, unless such employment and/or consulting engagement results in a direct conflict with the Company’s business. Notwithstanding the foregoing, a resignation shall not constitute a “Constructive
Termination” unless the event or condition giving rise to such resignation continues more than thirty (30) days following Executive’s written notice of such condition provided to the Company within ninety (90) days of the first
occurrence of such event or condition and such resignation is effective within thirty (30) days following the end of such notice period. 

(f)       Covered Termination. “Covered Termination” shall mean Executive’s Constructive
Termination or the termination of Executive’s employment by the Company other than for Cause. 

  
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 8.       Successors. 

(a)       Company’s Successors. Any successor to the Company (whether direct or indirect and
whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under
this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any successor to
the Company’s business and/or assets which executes and delivers the assumption agreement described in this Section 8(a) or which becomes bound by the terms of this Agreement by operation of law. 

(b)       Executive’s Successors. The terms of this Agreement and all rights of Executive hereunder
shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

9.      Notices. Notices and all other communications contemplated by this Agreement shall be in writing
and shall be deemed to have been duly given when personally delivered or one day following mailing via Federal Express or similar overnight courier service. In the case of Executive, mailed notices shall be addressed to Executive at Executive’s
home address that the Company has on file for Executive. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Senior Vice President, Legal and
Corporate Development. 
 10.     Confidentiality; Non-Solicitation. 

(a)       Confidentiality. While Executive is employed by the Company, and thereafter, Executive shall
not directly or indirectly disclose or make available to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, any Confidential Information (as defined below). Upon termination of Executive’s
employment with the Company, all Confidential Information in Executive’s possession that is in written or other tangible form (together with all copies or duplicates thereof, including computer files) shall be returned to the Company and shall
not be retained by Executive or furnished to any third party, in any form except as provided herein; provided, however, that Executive shall not be obligated to treat as confidential, or return to the Company copies of any Confidential
Information that (i) was publicly known at the time of disclosure to Executive, (ii) becomes publicly known or available thereafter other than by any means in violation of this Agreement or any other duty owed to the Company by any person
or entity, or (iii) is lawfully disclosed to Executive by a third party. For purposes of this Agreement, the term “Confidential Information” shall mean information disclosed to Executive or known by Executive as a consequence of or
through his or her relationship with the Company, about the customers, employees, business methods, public relations methods, organization, procedures or finances, including, without limitation, information of or relating to customer lists, of the
Company and its affiliates. In addition, Executive shall continue to be subject to the Employee Proprietary Information and Inventions Assignment Agreement entered into between Executive and the Company (the “Confidential Information
Agreement”). 

  
 -6- 

 (b)       Non-Solicitation. In addition to each
Executive’s obligations under the Confidential Information Agreement, Executive shall not for a period of two (2) years following Executive’s termination of employment for any reason, either on Executive’s own account or jointly
with or as a manager, agent, officer, employee, consultant, partner, joint venturer, owner or stockholder or otherwise on behalf of any other person, firm or corporation, directly or indirectly solicit or attempt to solicit away from the Company any
of its officers or employees or offer employment to any person who is an officer or employee of the Company; provided, however, that a general advertisement to which an employee of the Company responds shall in no event be deemed to result in
a breach of this Section 10(b). Executive also agrees not to harass or disparage the Company or its employees, clients, directors or agents or divert or attempt to divert any actual or potential business of the Company. 

(c)       Survival of Provisions. The provisions of this Section 10 shall survive the termination
or expiration of the applicable Executive’s employment with the Company and shall be fully enforceable thereafter. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 10 is excessive
in duration or scope or is unreasonable or unenforceable under the laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the
law of that state. 
 11.    Dispute Resolution. To ensure the timely and economical resolution of
disputes that arise in connection with this Agreement, Executive and the Company agree that any and all disputes, claims, or causes of action arising from or relating to the enforcement, breach, performance or interpretation of this Agreement,
Executive’s employment, or the termination of Executive’s employment, shall be resolved to the fullest extent permitted by law by final, binding and confidential arbitration, by a single arbitrator, in San Mateo County, California,
conducted by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) under the applicable JAMS employment rules. By agreeing to this arbitration procedure, both Executive and the Company waive the right to resolve any such dispute
through a trial by jury or judge or administrative proceeding. The arbitrator shall: (i) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and
(ii) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award. The arbitrator shall be authorized to award any or all remedies that Executive or the Company would be
entitled to seek in a court of law. The Company shall pay all JAMS’ arbitration fees in excess of the amount of court fees that would be required if the dispute were decided in a court of law. Nothing in this Agreement is intended to prevent
either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Notwithstanding the foregoing, Executive and the Company each have the right to resolve any issue
or dispute over intellectual property rights by Court action instead of arbitration. 

  
 -7- 

 12.    Miscellaneous Provisions. 

(a)      Section 409A. 

(i)       Separation from Service. Notwithstanding any provision to the contrary in this Agreement, no
amount deemed deferred compensation subject to Section 409A of the Code shall be payable pursuant to Sections 3 or 4 unless Executive’s termination of employment constitutes a “separation from service” with the Company within the
meaning of Section 409A of the Code and the Department of Treasury regulations and other guidance promulgated thereunder (“Separation from Service”) and, except as provided under Section 12(a)(ii) of this Agreement, any such
amount shall not be paid, or in the case of installments, commence payment, until the sixtieth (60th) day following Executive’s Separation from Service. Any installment payments that
would have been made to Executive during the sixty (60) day period immediately following Executive’s Separation from Service but for the preceding sentence shall be paid to Executive on the sixtieth (60th) day following Executive’s Separation from Service and the remaining payments shall be made as provided in this Agreement. 

(ii)      Specified Employee. Notwithstanding any provision to the contrary in this Agreement, if Executive
is deemed at the time of his or her separation from service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive is
entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (a) the
expiration of the six (6)-month period measured from the date of the Executive’s Separation from Service or (b) the date of Executive’s death. Upon the first business day following the expiration of the applicable Code
Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 12(a)(ii) shall be paid in a lump sum to Executive, and any remaining payments due under this Agreement shall be paid as otherwise provided herein. 

(iii)     Expense Reimbursements. To the extent that any reimbursements payable pursuant to this Agreement are
subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was
incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange
for another benefit. 
 (b)       Waiver. No provision of this Agreement shall be modified, waived or
discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any
condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c)       Whole Agreement. This Agreement, the Offer Letter and the Confidential Information Agreement
represent the entire understanding of the parties hereto with respect to the subject matter hereof and supersede all prior arrangements and understandings regarding same, including, without limitation, any accelerated vesting provisions of any stock
option agreement between the Company and Executive. 
 (d)       Choice of Law. The validity,
interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California. 

  
 -8- 

 (e)       Severability. The invalidity or unenforceability
of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 

(f)       Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which together will constitute one and the same instrument. 
 (Signature page follows) 

 

  
 -9- 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by its duly authorized officer, as of the day and year set forth below. 
  

			
	 AVALANCHE

BIOTECHNOLOGIES, INC.

		
	By:	 	 /s/ Paul B. Cleveland 

		
	Title:	 	President & Chief Executive Officer 
		
	Date:	 	January 29, 2016 

  

			
	EXECUTIVE
	
	 /s/ Amber Salzman

		
		 	
	Date:	 	January 29, 2016 

  
 -10-

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