Document:

EX-10.40

 Exhibit 10.40 

PROMISSORY NOTE 
  

			
	$1,100,000.00	  	 Berkeley, California

November 27, 2018

 For value received, the undersigned promises to pay Caribou Biosciences, Inc., a Delaware corporation (the
“Company”), having its principal office at 2929 7th Street, Suite 105, Berkeley, CA, 94710, the principal sum of $1,100,000.00 with interest from the date hereof at a rate of 3.04% compounded annually, on the unpaid balance of such
principal sum. 
 The entire unpaid principal balance of this Promissory Note (the “Note”), together with the accrued and unpaid
interest thereon, shall become due and payable in one lump sum on November 27, 2023, provided, the entire unpaid principal balance of this Note, together with the accrued and unpaid interest thereon, shall become due and payable immediately
upon the happening of any of the following events: (i) any termination of the undersigned’s employment or service with the Company or any parent, subsidiary, affiliate or successor of the Company (transfers amongst such entities will not
be considered a termination of employment for purposes of this Note); (ii) the later of (a) the date that is 6 months following the effective date of the Company’s initial public offering of its securities on an established securities
market or exchange, or (b) the date that is 10 business days following any lock-Up period for the sale of the undersigned’s shares; (iii) the consummation of a Change in Control (as defined in
the Company’s 2013 Equity Incentive Plan (as amended May 12, 2016)); (iv) the day immediately prior to a liquidation, dissolution or winding up of the Company, whether voluntarily or involuntarily; (v) the day prior to such date on
which the loan represented by this Note would be in violation of the provisions of Sarbanes-Oxley or would otherwise violate any other applicable law; (vi) the commission of any act of bankruptcy by the undersigned; (vii) the execution by
the undersigned of a general assignment for the benefit of creditors; (viii) the filing by or against the undersigned of a petition in bankruptcy or any petition for relief under the federal bankruptcy act; or (ix) the appointment of a
receiver or trustee to take possession of the property or assets of the undersigned. 
 All payments of principal and interest on this Note
shall be made without offset or deduction in lawful tender of the United States and shall be applied first to the payment of all accrued and unpaid interest and then to the payment of principal. Prepayment of the principal balance of this Note,
together with all accrued and unpaid interest, may be made in whole or in part at any time without penalty. 
 This Note is a 50% recourse
promissory note which means that the Company shall have full recourse against any assets of the undersigned up to 50% of the principal and interest accrued with respect to such principal under this Note (it being understood that the undersigned
shall be personally obligated for the recourse portion of the Note and related payments of principal and interest hereunder). This Note is secured by a pledge of certain shares of the Company’s Common Stock and is subject to the terms of a
Pledge and Security Agreement between the undersigned and the Company of even date herewith. Each payment of principal and/or interest made by or on behalf of the undersigned from any source other than from the collateral securing this Note shall be
applied first and entirely to the payment of any sums due under the recourse portion of this Note (and related payment of interest on the recourse portion of this Note), and then to any other amounts due under this Note. 

The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties.
Notwithstanding the foregoing, neither the Company nor the undersigned may assign, pledge or otherwise transfer this Note without the prior written consent of the other party. 

This Note, and all acts and transactions pursuant hereto, and the rights and obligations of the parties hereto, shall be governed, construed
and interpreted in accordance with the laws of California, without giving effect to principles of conflicts of law thereof. The undersigned agrees to pay on demand all the losses, costs, and expenses (including, without limitation, attorneys’
fees and disbursements) which the Company incurs in connection with the enforcement or attempted enforcement of this Note, or the protection or preservation of the Company’s rights under this Note, whether by judicial proceedings or otherwise.
The undersigned hereby waives presentment, demand for payment, notice of dishonor, default or delinquency, notice of acceleration, notice of protest and non-payment, notice of costs, expenses or losses and
interest thereon, notice of interest on interest, and diligence in taking any action to collect any sums owing under this Note or in proceeding against any of the rights or interests in or to properties securing payment of this Note. 

 

			
		
		 	/s/ Rachel E. Haurwitz, Ph.D.
		 	Rachel E. Haurwitz, Ph.D.EX-10.41

 Exhibit 10.41 

PLEDGE AND SECURITY AGREEMENT 

This Pledge and Security Agreement (the “Agreement”) is entered into as of November 27, 2018 by and between Caribou
Biosciences, Inc., a Delaware corporation (the “Company”), and Rachel E. Haurwitz, Ph.D. (“Borrower”). 

RECITALS 
 A. The Company
has loaned to Borrower $1,100,000.00 as evidenced by that certain Promissory Note dated as of November 27, 2018 (the “Note”). 

B. In order to secure payment of the Note, Borrower hereby pledges and grants a security interest in 225,410 shares of the Company’s
Common Stock standing in Borrower’s name on the books of the Company and represented by Certificate No. 02 (the “Shares”). 

AGREEMENT 
 In
consideration of the Company’s acceptance of the Note in payment of the purchase price of the Shares, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows: 

1. Borrower shall deliver to the Secretary of the Company, her designee (hereinafter referred to as the “Pledge Holder”), all
certificates representing the Shares, together with an Assignment Separate from Certificate in the form attached to this Agreement as Attachment A executed by Borrower and by Borrower’s spouse (if required for transfer), in blank, for
use in transferring all or a portion of the Shares to the Company if, as and when required pursuant to this Agreement. In addition, if Borrower is married, Borrower’s spouse shall execute the signature page attached to this Agreement. 

2. As security for the payment of the Note and any renewal, extension or modification of the Note, Borrower hereby grants to the Company a
security interest in and pledges with and delivers to the Company her Shares (sometimes referred to herein as the “Collateral”). 

3. In the event that Borrower prepays a portion of the Note, in accordance with the provisions thereof, Borrower intends, unless written
notice to the contrary is delivered to the Pledge Holder, that the Shares represented by the portion of the Note so repaid, including accrued interest thereon, shall continue to be so held by the Pledge Holder, to serve as independent collateral for
the outstanding portion of the Note. 
 4. In the event of any foreclosure of the security interest created by this Agreement, the Company
may sell the Shares at a private sale or may repurchase the Shares itself. The parties agree that, prior to the establishment of a public market for the Shares, the securities laws affecting sale of the Shares may make a public sale of the Shares
commercially unreasonable. The parties further agree that the repurchasing of such Shares by the Company, or by any person to whom the Company may have assigned its rights under this Agreement, is commercially reasonable if made at a price
determined by the Company’s Board of Directors in its discretion, fairly exercised, representing what would be the fair market value of the Shares reduced by any limitation on transferability, whether due to the size of the block of shares or
the restrictions of applicable securities laws. 
 5. In the event of default in payment when due of any indebtedness under the Note, the
Company may elect then, or at any time thereafter, to exercise all rights available to a secured party under applicable law including the right to sell the Collateral at a private or public sale or repurchase the Shares as provided above. The
proceeds of any sale shall be applied in the following order: 
 (a) To the extent necessary, proceeds shall be used to pay all reasonable
expenses of the Company in enforcing this Agreement and the Note, including, without limitation, reasonable attorneys’ fees and legal expenses incurred by the Company. 

 (b) To the extent necessary, proceeds shall be used to satisfy any remaining indebtedness
under Borrower’s Note, applied first and entirely to the payment of any sums due under the non-recourse portion of the Note (and related payment of interest on the
non-recourse portion of the Note), and then to any other amounts due under the Note. 
 (c) Any
remaining proceeds shall be delivered to Borrower. 
 6. Upon full payment by Borrower of all amounts due under the Note, Pledge Holder
shall deliver to Borrower all Shares in Pledge Holder’s possession belonging to Borrower, and Pledge Holder shall thereupon be discharged of all further obligations under this Agreement; provided, however, that Pledge Holder shall nevertheless
retain the Shares as escrow agent if at the time of full payment by Borrower said Shares are still subject to a repurchase option in favor of the Company. 

The parties have executed this Pledge and Security Agreement as of the date first set forth above. 

 

					
	Rachel E. Haurwitz, Ph.D	 		 	Caribou Biosciences, Inc.
			
	/s/ Rachel E. Haurwitz, Ph.D.	 		 	 /s/ Barbara G. McClung

	(Signature)	 		 	(Signature)
			
		 		 	 Barbara G. McClung

		 		 	Chief Legal Officer & Corporate Secretary

  
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 ATTACHMENT A 

ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED and pursuant to that certain Pledge and Security Agreement between the undersigned (“Borrower”) and
Caribou Biosciences, Inc., a Delaware corporation (the “Company”), dated November 27, 2018 (the “Agreement”), Borrower hereby sells, assigns and transfers unto the Company
                 shares of the Company’s Common Stock, standing in Borrower’s name on the books of the Company and represented by Certificate
No.           , and does hereby irrevocably constitute and
appoint                                 to transfer said stock to the Company with
full power of substitution in the premises. THIS ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT. 
 Dated: _______________  

 

			
	 
	Rachel E. Haurwitz, Ph.D.

  

	
	 
	Spouse of Borrower (if applicable)

 Instruction: Please do not fill in any blanks other than the signature line. The purpose of this
assignment is to perfect the security interest of the Company pursuant to the Agreement. 

  
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