Document:

EX-10.14

 Exhibit 10.14 

Torus Therapeutics, Inc. 
 June 25, 2017

 Douglas Kerr 
 Dear Doug: 

On behalf of Torus Therapeutics (the “Company”), I am pleased to offer you employment with the Company on the following terms and conditions.

 1. Position. You will be employed by the Company as the Chief Scientific Officer and Executive Vice President of Research and Development. It is
contemplated that you will commence employment on a date to be mutually agreed upon between you and the Company, but which in no event shall be later than August 15, 2017 (the “Start Date”). You shall work out of the
Company’s office in Cambridge, Massachusetts. You agree to devote your full business time, best efforts, skill, knowledge, attention and energies to the advancement of the Company’s business and interests and to the performance of your
duties and responsibilities as an employee of the Company, and shall not engage in any other employment, consulting or other business activity without the prior written consent of the Company. 

2. Base Salary. You will receive a base salary at the semi-monthly rate of $16,041.67 which is equivalent to $385,000 on an annualized basis (the
“Base Salary”). All payments will be subject to legally required tax withholdings. The Base Salary will be subject to adjustment as determined by the Company in its discretion. 

3. Bonus. Following the end of each fiscal year during the term of your employment commencing with the year ended December 31, 2017 and provided
you remain employed by the Company on the last day of such fiscal year, you will be eligible to receive an annual incentive bonus for such fiscal year with a target of up to thirty-five percent (35%) of your annual Base Salary. The bonus will be
awarded based on criteria established by the Company and shall be determined by the Company in its sole discretion. Any bonus will be paid no later than March 15th of the year following the close of the year to which it relates. Any bonus would be pro-rated for the 2017 fiscal year. 
 4. Equity. Subject to the approval of the Company’s Board of Directors
(the “Board”), at such times as the Company issues and sells shares of its capital stock for capital raising purposes, it shall grant to you, either a restricted stock award for a number of shares of the Company’s common stock
(the “Restricted Shares”) or stock options to purchase a number of shares of the Company’s common stock (the “Options”), which number when added to the shares of common stock then held by you or then issuable
upon exercise of Options then held by you, totals 2.0% of the Company’s fully diluted capitalization (reflecting then outstanding capital stock and issued and reserved stock options) following such issuance and sale; provided, however, that the
Company shall have no obligation to grant to you Restricted Shares or Options hereunder until: 

 
(i) following such time as the Company has issued and sold securities having an aggregate purchase price of $10,000,000 or (ii) with respect to any securities issued and sold that generate
proceeds in excess of such $10,000,000. The Restricted Shares and/or Options will vest as to 25% of the underlying shares on the first anniversary of the Start Date and will vest as to the balance in equal quarterly installments of 6.25% thereafter
until the fourth anniversary of the Start Date and will otherwise be subject to the terms and conditions of a restricted stock agreement, stock option agreement, and/or stock plan (the “Grant Documents”). In connection with each
grant provided for above, you shall be entitled to elect to receive such grant in Restricted Shares or Options, provided that any grant of Restricted Shares shall be subject to the payment by you to the Company in such manner as may be agreed by you
and the Company of an amount equal to the Company’s withholding obligation with respect to federal, state, local and other taxes in respect of the Restricted Shares; and provided further that any Options granted hereunder shall have an exercise
price per share equal to the fair market value of the Company’s common stock at the time of grant as determined by the Board. In addition, provided you remain employed by the Company through the applicable grant date, you may be entitled to
additional option grants and/or awards of additional restricted shares (the “Additional Grants”) that the Board may elect to grant in its sole discretion. 

5. Benefits. You may participate in the benefit programs offered by the Company to its employees from time to time, provided that you are eligible under
(and subject to all provisions of) the plan documents that govern those programs. Benefits are subject to change at any time in the Company’s sole discretion. You will also be entitled to paid vacation each year in accordance with the terms and
conditions set forth in the Company’s vacation policy as in effect from time to time. You shall also be entitled to receive reimbursement for all reasonable business expenses incurred by you in performing your services to the Company, in
accordance with the policies and procedures then in effect and established by the Company. 
 6. Severance Benefits. 

a. General. If you are subject to an Involuntary Termination (as defined below), then you will be entitled to the benefits described in
this Section 6. However, this Section 6 will not apply unless you: (i) have returned all Company property in your possession on or prior to your last day of employment, (ii) have resigned as a member of the Board of Directors of
any subsidiary of the Company, to the extent that you are then a director of any such subsidiary, and (iii) have entered into a separation agreement that has become enforceable and irrevocable and that includes a general release of all
employment-related claims that you may have against the Company or persons affiliated with the Company (the “Separation Agreement”). Notwithstanding the foregoing, no term of this offer letter or the Separation Agreement shall
impact or affect, in any way, your rights with respect to, and the Separation Agreement shall not include a waiver or release of any claims related to: (x) your status as a shareholder or equityholder of the Company or any rights you have under
the terms of any Grant Document or any other equity award or agreement between you and the Company, including any claims with respect to any Restricted Shares, Options or other equity owned or held by you at the time your employment is terminated,
or (y) any rights to indemnification from the Company, pursuant to any applicable governing documents of the Company or any applicable written agreement between you and the Company, rights under ERISA or rights which, as a matter of law, cannot
be waived. The Separation Agreement must be in substantially the form reasonably prescribed by the Company, and must be executed and must 

  
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become enforceable and irrevocable on or before the 52nd day following your last day of employment with the Company. If you fail to execute without revocation the Separation Agreement on or
before the 52nd day following your last day of employment with the Company, you shall be entitled to the Accrued Obligations only and no other severance payments or benefits. The continued salary provided under Section 6(b)(ii) below shall be
paid in accordance with the Company’s normal payroll practices and shall commence on the next payroll date falling after the date the Separation Agreement becomes enforceable and irrevocable. If, however, the
52-day period in which the Separation Agreement must become enforceable and irrevocable begins in one taxable year and ends in the following year, the Company shall commence payment of the continued salary in
the second year on the first payroll date falling on the later of: (A) January 1; and (B) the date on which the Separation Agreement becomes enforceable and irrevocable. The first payroll shall include, however, all amounts that would
otherwise have been paid to you between the date your employment is terminated and your receipt of the first installment. 
 b.
Severance. If you are subject to an Involuntary Termination, then, subject to Section 6(a): 
 i. The Company shall pay you the
Accrued Obligations earned through the your last day of employment within on or before the time required by law but in no event more than fifteen (15) days after your last day of employment with the Company, except to the extent such payment
would accelerate compensation in a manner inconsistent with compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”); 

ii. The Company shall continue to pay you your Base Salary as in effect on your last day of employment for a period of six (6) months;

 iii. If you are participating in the Company’s group health plan immediately prior to your last day of employment and you elect COBRA
health and dental continuation, then the Company shall pay you a monthly cash payment for six (6) months, in an amount equal to the monthly employer contribution that the Company would have made to provide health and dental insurance to you and
your eligible dependents if you had remained employed by the Company; provided, however, that such Company-paid premiums may be recorded as additional income pursuant to Section 6041 of the Code and not entitled to any tax qualified treatment
to the extent necessary to comply with or avoid the discriminatory treatment prohibited by the Patient Protection and Affordable Care Act of 2010 and the Health Care and Education Reconciliation Act of 2010 or Section 105(h) of the Code. 

iv. Twenty-five percent (25%) of the unvested portion of each grant of Restricted Shares, each Option and each Additional Grant will fully vest
as of the date of the Involuntary Termination, provided, however, that: (i) if Involuntary Termination occurs on or within twelve (12 months) following a Change in Control, then one hundred percent (100%) of the unvested portion of each grant
of Restricted Shares, each Option and each Additional Grant will fully vest as of the date of such Involuntary Termination; (ii) no shares may be transferred and no stock option exercised (in each case with respect to the unvested portion)
until the Separation Agreement has become enforceable and irrevocable and (iii) if the Separation Agreement does not become enforceable and irrevocable in accordance with this offer letter, the portions of the Restricted Shares, Options and
Additional Grants that have vested as a result of this provision shall be cancelled effective as of the date of the Involuntary Termination. 

  
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 The payments and benefits described in Section 6(b)(ii)-(v) above shall hereinafter be
referred to as the “Severance.” If you are terminated for any reason other than as result of an Involuntary Termination, you shall be entitled to receive the Accrued Obligations only. 

7. Representation Regarding Other Obligations. Your employment is contingent upon your signing the Company’s Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement (the “Invention Agreement”). Further, you hereby
represent to the Company that you are not a party to any agreement of any type which may impact or limit your ability to become employed by or perform your job at the Company or which is in any way inconsistent with the terms of this offer letter..
You will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any current or previous employer or others. Further, you hereby represent that (i) your employment with the
Company and this offer letter does not and will not violate or conflict with any obligations you may have to or any agreements you may have with any former employer and (ii) you have provided the Company with all written agreements that
describe any continuing post-employment obligations to any former employer. 
 8. Proof of Legal Right to Work. You agree to provide to the Company,
within three (3) days of the Start Date, documentation proving your eligibility to work in the United States, as required by the Immigration Reform and Control Act of 1986. You may need a work visa in order to be eligible to work in the United
States. If that is the case, your employment with the Company will be conditioned upon your obtaining a work visa in a timely manner as determined by the Company. 

9. Tax Matters. 
 a. All forms of
compensation referred to in this offer letter are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law. You hereby acknowledge that the Company does not have a duty to design its compensation
policies in a manner that minimizes your tax liabilities and that you will not make any claim against the Company or the Board related to tax liabilities arising from your compensation. 

b. For purposes of Section 409A of the Code, each salary continuation payment under Section 6(b) is hereby designated as a separate
payment. If the Company determines that you are a “specified employee” under Section 409A(a)(2)(B)(i) of the Code at the time of your Separation, then (i) the salary continuation payments under Section 6(b), to the extent
that they are subject to Section 409A of the Code, will commence on the first business day following (A) expiration of the six-month period measured from your Separation, or (B) the date of your
death, and (ii) the installments that otherwise would have been paid prior to such date will be paid in a lump sum when the salary continuation payments commence. Any salary continuation payments that are not subject to Section 409A of the
Internal Revenue Code, including, without limitation, payments that are exempt from Section 409A of the Internal Revenue Code as a result of the separation pay plan exemption under
Section 1.409A-1(b)(9) of the Income Tax Regulations (or any successor thereto), will continue to be paid as otherwise provided in this offer letter. 

  
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 c. All in-kind benefits provided and expenses
eligible for reimbursement hereunder shall be provided by the Company or incurred by you during your employment with the Company. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be
paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not
affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits is not
subject to liquidation or exchange for another benefit. 
 10. Interpretation, Amendment and Enforcement. This offer letter, along with the Invention
Agreement and the Grant Documents, constitute the complete agreement between you and the Company, contain all the terms of your employment, and supersede any prior agreements, representations or understandings (whether written, oral or implied)
between you and the Company. The terms of this offer letter and the resolution of any disputes as to the meaning, effect, performance or validity of this offer letter or arising out of, related to, or in any way connected with, this offer letter,
your employment with the Company or any other relationship between you and the Company (the “Disputes”) will be governed by Massachusetts law, excluding laws relating to conflicts or choice of law. You and the Company submit to the
exclusive personal jurisdiction of the federal and state courts located in the Commonwealth of Massachusetts in connection with any Dispute or any claim related to any Dispute. 

11. Other Terms. This letter shall not be construed as an agreement, either express or implied, to employ you for any stated term, and shall in no way
alter the Company’s policy of employment at-will, which means that you have the right to terminate your employment relationship with the Company at any time for any reason and the Company has the right to
terminate its employment relationship with you at any time for any reason, with or without cause or notice. Similarly, nothing in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any
benefit beyond the end of your employment with the Company. 
 12. Definitions. The following terms have the meaning set forth below wherever they are
used in this letter agreement: 
 a. “Accrued Obligations” means: (i) any earned but unpaid Base Salary as of the date
your employment is terminated, (ii) any accrued, but unused vacation time as of your termination date, (iii) any vested benefits you may have under any employee benefit plan of the Company as of your termination date, (iv) any unpaid
expense reimbursements accrued prior to the date your employment is terminated, and (iv) any unpaid but earned bonus for a fiscal year preceding the year in which your employment is terminated. 

b. “Cause” means (i) your material breach of the Invention Agreement, (ii) your conviction of, or your plea of
“guilty” or “no contest” to, a felony under the laws of the United States or any State, (iii) your gross negligence or willful misconduct in the performance of your duties, (iv) your continuing failure to perform
assigned duties after receiving written notification of the failure from the Company’s Board of Directors or (v) your failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors,
officers or employees, if the Company has requested your cooperation; provided, however, that “Cause” shall not be deemed to have occurred pursuant to subsection (iii), (iv), or (v) hereof unless you have first received written notice
from the Board specifying in reasonable detail the particulars of such grounds and that the Company intends to terminate your employment hereunder for such grounds and you have failed to cure such grounds within a period of thirty (30) days
from the date of such notice. 

  
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 c. “Change in Control” means the occurrence of any one or more of the
following events, in each case only to the extent that such event also constitutes a “change in ownership” of the Company or a “change in the ownership of a substantial part of the Company’s assets” for the purposes of
Section 409A of the Code: (i) the consummation of a merger or consolidation of the Company with any other entity, other than a merger or consolidation in which voting securities of the Company outstanding immediately prior thereto continue
to represent more than fifty percent (50%) percent of the total voting power of: (A) the surviving or resulting corporation; or (B) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately
following such merger or consolidation, the parent corporation of such surviving or resulting corporation immediately after such merger or consolidation; (ii) the acquisition of all of the Company’s outstanding capital stock by a single
person or entity or a group acting in concert to effect such acquisition; or (iii) the sale, transfer or exclusive license of all or substantially all of the assets of the Company. 

d. “Expenses” means any damages, losses, judgments, liabilities, fines, penalties, excise taxes, settlements, costs,
attorneys’ fees, accountants’ fees, and disbursements and costs of attorneys and accountants. 
 e. “Involuntary
Termination” means either: (i) your Termination Without Cause or (ii) your Resignation for Good Reason. 
 f.
“Resignation for Good Reason” means a Separation as a result of your resignation within three (3) months after one of the following conditions has come into existence without your consent: 

i. A reduction in your Base Salary by more than 10% (unless such reduction is part of a broad-based salary reduction applicable to the
Company’s senior management); miles 
 ii. A material diminution of your authority, duties or responsibilities; or 

iii. A relocation of your principal workplace by more than forty (40) 

A Resignation for Good Reason will not be deemed to have occurred unless you give the Company written notice of the condition within ninety
(90) days after the condition comes into existence and the Company fails to remedy the condition within thirty (30) days after receiving your written notice. 

g. “Separation” means a “separation from service,” as defined in the regulations under Section 409A of the
Code. 
 h. “Termination Without Cause” means a Separation as a result of a termination of your employment by the Company
without Cause, provided you are willing and able to continue performing services within the meaning of Treasury Regulation 1.409A-1(n)(1). 

  
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 We are excited about having you join the Company. If this letter correctly sets forth the
terms under which you will be employed by the Company, please sign the enclosed duplicate of this letter in the space provided below and return it to me, along with a signed copy of the Invention Agreement. If you do not accept this offer by
June 30, 2017, this offer will be deemed revoked. 
 [Remainder of Page Intentionally Left Blank] 

  
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	Very truly yours,
	
	Torus Therapeutics, Inc.
	
	 /s/ Jason Rhodes

	Jason Rhodes
	President

 I have read and accept this offer of employment: 
  

					
	 /s/ Douglas Kerr
	  		  	
	Douglas Kerr	  		  	 01July2017

		  		  	Date

  
 - 8 -EX-10.15

 Exhibit 10.15 

 
 

 
 December 14, 2018 
 Tom
Graney 
  

	RE:	 Offer of Employment 

Dear Tom, 
 We are very excited to offer you the position of
Chief Financial Officer where you will play an essential role in building Generation Bio’s foundation and long-term business and scientific success. Below are the terms of employment for your review and execution. If these terms are acceptable,
please sign and return a copy to us on or before December 14, 2018. 
 Position: Your position with Generation Bio (the
Company”) will be as Chief Financial Officer where you will be reporting to the CEO, currently Geoff McDonough. This is a full-time position with a principal workplace at Generation Bio’s headquarters in Cambridge, Massachusetts. In
this role you will be responsible for the development and execution of the financial strategy and operations that support Generation Bio’s business plans, including the Finance, Accounting and Internal Audit functions. You agree to devote
substantially all business time, best efforts, skill, knowledge, attention and energies to the advancement of the Company’s business and interests and to the performance of your duties and responsibilities as an employee and officer of the
Company, and shall not engage in any other employment, consulting or other business activity without the prior written consent of the Company. You may however continue to sit on the board of AC Immune and other boards with the CEO’s prior
written approval. 
  

	 	1.	 Start Date: Your employment will begin on February 21, 2019 (the “Start Date”) or
earlier if mutually agreed. 

  

	 	2.	 Salary: Generation Bio will pay you an annual Base Salary of $ 375,000.00, payable in accordance with
Generation Bio’s standard payroll schedule and subject to applicable deductions and withholdings. This salary will be subject to periodic review and adjustments at Generation Bio’s discretion. Because this is an exempt position, you will
not be eligible for any overtime pay. 

  

	 	3.	 Bonus: During the term of your employment with Generation Bio, you will be eligible for an annual
incentive bonus (“Bonus”) for each fiscal year of your employment with Generation Bio. The amount, terms and conditions of such bonus are to be determined at the sole discretion of the Board of Directors of Generation Bio (the
“Board”), and such terms may be changed and conditions may be changed at any time with or without notice to you. Your target annual Bonus shall be 35% of your annual salary. Your actual Bonus percentage is discretionary and will be
subject to Generation Bio’s assessment of your performance as well as the performance of Generation Bio during the applicable fiscal year. Any Bonus payable for the year in which you begin working for the Company shall be prorated based on your
Start Date. Payment of the Bonus shall be contingent upon you being employed by Generation Bio as of the last day of the fiscal year in which it was earned. The Bonus, if any, shall be paid on or before March 15th of the calendar year following the
fiscal year for which such Bonus is earned. 

  
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	 	4.	 Incentive Equity Grant: You will be eligible to participate in the Company’s stock incentive
program. Subject to the approval of the Board, which will happen no later than one month after your start date, you will be granted options to purchase 770,000 shares (1.75% of total equity) of Generation Bio’s common stock (the “Option
Grant”). The options subject to the Option Grant (“Options”) will vest as to 25% of the underlying shares on the first anniversary of the Start Date and will vest as to the balance in equal quarterly installments of 6.25%
thereafter until the fourth anniversary of the Start Date. The Option Grant will be subject to the terms and conditions of a written stock option agreement which you will be required to sign, and/or the Company’s written stock plan (the
“Grant Documents”). The Options shall have an exercise price per share equal to the fair market value of the Company’s common stock at the time of grant, as determined by the Board. 

 

	 	5.	 Benefits: You may participate in the benefit programs offered by the Company to its employees, provided
that you are eligible under and subject to all provisions of the plan documents that govern those programs. Benefits are subject to change at any time in the Company’s sole discretion. You will also be entitled to paid vacation and sick leave
each year in accordance with the terms and conditions set forth in the Company’s policies. You will also be entitled to receive reimbursement for all reasonable business expenses incurred by you in performing your services to the Company in
keeping with Company policies. In addition, you may be eligible for other benefits offered by the Company as set forth in the Employee Guide, which can be accessed on the Company’s intranet portal. The Company currently maintains and shall
maintain director and officer liability insurance on such terms and providing such coverage as the Board determines is appropriate, and the Executive shall be covered by such insurance on the same basis as the other directors and officers of the
Company. 

  

	 	6.	 Severance Benefits: 

 

	 	a.	 General: Either you or the Company may terminate your employment at any time or for any reason by
providing written notice to the other party. If your employment terminates for any reason, including for Cause (as defined below) or as a result of Involuntary Termination (as defined below), the Company will pay you the Accrued Obligations (as
defined below) earned through your last day of employment on or before the time required by law or applicable policy, except to the extent any such payments would accelerate compensation in a manner inconsistent with compliance with
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

  

	 	b.	 If you are subject to an Involuntary Termination, then in addition to payment of the Accrued Obligations you
will be entitled to the severance benefits described in this Section 6(b), provided you have: (i) promptly returned all Company property in your possession, (ii) have resigned as a member of the Board of Directors of any subsidiary of
the Company, to the extent that you are then a director of any such subsidiary, and (iii) entered into a separation agreement that has become enforceable and irrevocable and that includes a mutually

  
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agreeable general release of all claims that you may have against the Company or persons affiliated with the Company (the “Separation Agreement”). Notwithstanding the foregoing,
no term of this offer letter or the Separation Agreement shall impact or affect, in any way, your rights with respect to, and the Separation Agreement shall not include a waiver or release of any claims related to: (x) any vested benefits or
your status as a shareholder or equity holder of the Company or any rights you have under the terms of any Grant Document or any other equity award or agreement between you and the Company, including any claims with respect to any Options or other
equity owned or held by you at the time your employment is terminated, or (y) any rights to indemnification and defense from the Company, pursuant to any applicable governing documents of the Company, any insurance policy providing
directors’ and officers’ coverage or any applicable written agreement between you and the Company, rights under ERISA or rights which, as a matter of law, cannot be waived. The Separation Agreement must be in substantially the form
reasonably prescribed by the Company and must be executed and become enforceable and irrevocable within the time prescribed by the Company, which shall be consistent with applicable law (the “Prescribed Deadline”). If the Separation
Agreement is not executed and has not become enforceable and irrevocable by the Prescribed Deadline, you shall be entitled to the Accrued Obligations only and no other severance payments or benefits. The continued salary provided under
Section 6(b)(ii) below shall be paid in accordance with the Company’s normal payroll practices and shall commence on the next payroll date falling after the date the Separation Agreement becomes enforceable and irrevocable. The Separation
Agreement will not contain additional restrictive covenant agreements beyond those set forth in the accompanying Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement. 

 The severance benefits for which you are eligible in the
event of an Involuntary Termination, subject to the foregoing, are as follows: 
  

	 	i.	 The Company shall continue to pay you your Base Salary as in effect on your last day of employment for a period
of six (6) months; 

  

	 	ii.	 If you are participating in the Company’s group health plan immediately prior to your last day of
employment and you elect COBRA health and dental continuation, then the Company will continue to pay you a monthly cash payment for a period of six months following your last day of employment, in an amount equal to the monthly employer contribution
that the Company would have made to provide health and dental insurance to you and your eligible dependents if you had remained employed by the Company; provided, however, that such Company-paid premiums will be reported as additional income
pursuant to Section 6041 of the Code and not entitled to any tax qualified treatment to the extent necessary to comply with or avoid the discriminatory treatment prohibited by the Patient Protection and Affordable Care Act of 2010 and the
Health Care and Education Reconciliation Act of 2010 or Section 105(h) of the Code; and 

  
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	 	iii.	 Twenty-five percent (25%) of the unvested portion of each Option Grant and any other equity grant from the
Company to you (collectively, the “Equity Grants”) will fully vest as of the date of the Involuntary Termination, provided, however, that: 

  

	 	A.	 if the Involuntary Termination occurs on or within 12 months following, or on the one-year anniversary of, a Change in Control, then one hundred percent (100%) of the unvested portion of each Equity Grant will fully vest as of the date of such Involuntary Termination; 

 

	 	B.	 no shares may be transferred and no stock option exercised (in each case with respect to the portion of the
Equity Grants accelerating pursuant to this Section 6(b)(iv)) until the Separation Agreement has become enforceable and irrevocable; and 

  

	 	C.	 if the Separation Agreement does not become enforceable and irrevocable in accordance with this offer letter,
the portions of the Equity Grants that have vested as a result of this provision shall be cancelled effective as of the date of the Involuntary Termination. 

  

	 	7.	 Representation Regarding Other Obligations. Your employment is contingent upon your signing the
Company’s Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement (the “Non-Disclosure Agreement”). Further, you hereby represent to the Company that you are not a party to any agreement of any type which may impact or limit your ability to become employed by or perform your
job at the Company or which is in any way inconsistent with the terms of this offer letter. You represent and agree that you will not disclose to the Company, use, or induce the Company to use any confidential or proprietary information or material
belonging to any current or previous employer or others. Further, you hereby represent that (i) your employment with the Company and this offer letter does not and will not violate or conflict with any obligations you may have to or any
agreements you may have with any former employer and (ii) you have provided the Company with all written agreements that describe any continuing post-employment obligations to any former employer. 

 

	 	8.	 Taxes: All forms of compensation referred to in this offer letter are subject to reduction to reflect
applicable withholding and payroll taxes and other deductions required by law. You hereby acknowledge that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities and that you will not
make any claim against the Company or the Board related to tax liabilities arising from your compensation. 

  

	 	a.	 For purposes of Section 409A of the Code, each salary continuation payment under Section 6(b) is
hereby designated as a separate payment. If the Company determines that you are a “specified employee” under Section 409A(a)(2)(B)(i) of the Code at the time of your Separation, then (i) the salary continuation payments under
Section 6(b), to the extent that they are subject to Section 409 A of the Code, will commence on the first business day following (A) expiration of the six-month period measured from your
Separation date, or (B) the date of your death, and (ii) the installments that otherwise would have been paid prior to such date will be paid in a lump sum when the salary continuation payments commence.

  
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Any salary continuation payments that are not subject to Section 409A of the Internal Revenue Code, including, without limitation, payments that are exempt from Section 409A of the
Internal Revenue Code as a result of the separation pay plan exemption under Section 1.409A-1(b)(9) of the Income Tax Regulations (or any successor thereto), will continue to be paid as otherwise provided
in this offer letter. 

  

	 	b.	 All in-kind benefits provided and expenses eligible for reimbursement
hereunder shall be provided by the Company or incurred by you during your employment with the Company. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of
the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided, or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits is not subject to
liquidation or exchange for another benefit. 

  

	 	9.	 Interpretation, Amendment and Enforcement. This offer letter, along with the Non-Disclosure Agreement and the Grant Documents, constitute the complete agreement between you and the Company, contain all the terms of your employment, and supersede any prior agreements, representations or
understandings (whether written, oral or implied) between you and the Company. The terms of this offer letter and the resolution of any disputes as to the meaning, effect, performance or validity of this offer letter or arising out of, related to,
or in any way connected with, this offer letter, your employment with the Company or any other relationship between you and the Company (the “Disputes”) will be governed by Massachusetts law, excluding laws relating to conflicts or
choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in the Commonwealth of Massachusetts in connection with any Dispute or any claim related to any Dispute. 

 

	 	10.	 Other Terms. This offer letter shall not be construed as an agreement, either express or implied, to
employ you for any stated term, and shall in no way alter the Company’s policy of employment at-will, which means that you have the right to terminate your employment relationship with the Company at any
time for any reason and the Company has the right to terminate its employment relationship with you at any time for any reason, with or without cause or notice. Similarly, nothing in this letter shall be construed as an agreement, either express or
implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Company, except as may be required by, and subject to the conditions set forth in, Section 6. You have the right to consult with counsel
before signing this offer letter. 

  

	 	11.	 Definitions. The following terms have the meaning set forth below wherever they are used in this letter
agreement: 

  

	 	a.	 “Accrued Obligations” means: (i) any earned but unpaid Base Salary as of the date your
employment is terminated, (ii) any accrued, but unused vacation time as of your termination date, (iii) any vested benefits you may have under any employee benefit plan of the Company as of your termination date, (iv) any unpaid
expense reimbursements accrued prior to the date your employment is terminated, and (v) any unpaid but earned bonus (as approved pursuant to Section 4) for a fiscal year preceding the year in which your employment is terminated.

  
 5 

  
 

 
  

	 	b.	 “Cause” means (i) your material breach of the
Non-Disclosure Agreement, (ii) your conviction of, or your plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State, (iii) your gross
negligence or willful misconduct in the performance of your duties, (iv) your continuing failure to perform assigned duties after receiving written notification of the failure from the Company or (v) your failure to cooperate in good faith
with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation; provided, however, that “Cause” shall not be deemed to have occurred pursuant to
subsection (iii), (iv), or (v) hereof unless you have first received written notice from the Company specifying in reasonable detail the particulars of such grounds and that the Company intends to terminate your employment hereunder for such
grounds, and you have failed to cure such grounds to the Company’s satisfaction within a period of thirty (30) days from the date of such notice. 

  

	 	c.	 “Change in Control” means the occurrence of any one or more of the following events, in each
case only to the extent that such event also constitutes a “change in ownership” of the Company or a “change in the ownership of a substantial part of the Company’s assets” for the purposes of Section 409A of the Code:
(i) the consummation of a merger or consolidation of the Company with any other entity, other than a merger or consolidation in which voting securities of the Company outstanding immediately prior thereto continue to represent more than fifty
percent (50%) percent of the total voting power of: (A) the surviving or resulting corporation; or (B) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or
consolidation, the parent corporation of such surviving or resulting corporation immediately after such merger or consolidation; (ii) the acquisition of all of the Company’s outstanding capital stock by a single person or entity or a group
acting in concert to effect such acquisition; or (iii) the sale, transfer or exclusive license of all or substantially all of the assets of the Company. 

  

	 	d.	 “Involuntary Termination” means either: (i) your Termination Without Cause or
(ii) your Resignation for Good Reason. 

  

	 	e.	 “Resignation for Good Reason” means a Separation as a result of your resignation within three
(3) months after one of the following conditions has come into existence without your consent: 

  

	 	i.	 A reduction in your Base Salary by more than 10% (unless such reduction is part of a broad-based salary
reduction program at the Company); 

  

	 	ii.	 A material diminution of your authority, duties or responsibilities; or 

 

	 	iii.	 A relocation of your principal workplace by more than forty (40) miles. 

  
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 A Resignation for Good Reason will not be deemed to have occurred unless you give the
Company written notice of the condition within thirty (30) days after the condition comes into existence and the Company fails to remedy the condition within thirty (30) days after receiving your written notice. 

 

	 	f.	 “Separation” means a “separation from service,” as defined in the regulations under
Section 409A of the Code. 

  

	 	g.	 “Termination Without Cause” means a Separation as a result of a termination of your employment
by the Company without Cause, provided you are willing and able to continue performing services within the meaning of Treasury Regulation l.409A-1(n)(l). 

We are excited about welcoming you to the Generation Bio team. We are eager to add your talent and energy to building a company capable of transforming
patients’ lives around the world. This offer is valid for five business days from the date of this letter; we look forward to receiving a response from you acknowledging, by signing below, that you have accepted this offer of employment. 

 

			
	Very truly yours,
	
	Generation Bio Co.
		
	By:  	 	/s/ Geoff McDonough
	Name:	 	Geoff McDonough, M.D.
	Title:	 	Chief Executive Officer

  

	
	I have read and accept this employment offer
	
	/s/ Tom Graney
	Signature

 Name: Tom Graney 
 Dated:
December 14, 2018 
 Tom Graney 

  
 7

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