Document:

EX-10.12

 Exhibit 10.12 

Certain identified information has been marked in the exhibit because it is both (i) not material 

and (ii) would likely cause competitive harm to the Company, if publicly disclosed. 

Double asterisks denote omissions. 

PUBLIC HEALTH SERVICE 

PATENT LICENSE AGREEMENT NONEXCLUSIVE SUBLICENSABLE 

This Agreement is based on the model Patent License Non-Exclusive Sublicensable Agreement adopted by the U.S. Public Health Service
(“PHS”) Technology Transfer Policy Board for use by components of the National Institutes of Health (“NIH”), the Centers for Disease Control and Prevention (“CDC”), and the Food and Drug
Administration (“FDA”), which are agencies of the PHS within the Department of Health and Human Services (“HHS”). 

This Cover Page identifies the Parties to this Agreement: 

The U.S. Department of Health and Human Services, as represented by 

The National Heart, Lung, and Blood Institute (NHLBI) 

an Institute or Center (hereinafter referred to as the “IC”) of the 

NIH 
 and 

Torus Therapeutics, Inc., 

hereinafter referred to as the “Licensee”, 

having offices at 400 Technology Square, Cambridge, MA 02139, 

created and operating under the laws of the State of Delaware, United States of America 

Tax ID No.: 814301284 

 For the IC’s internal use only 

License Number: L-124-2017/0 

License Application Number: A-084-2017 

Serial Number(s) of Licensed Patent(s) or Patent Application(s): 
  

							
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	  	 Status

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 All entitled: [**]. 
 HHS
Reference: E-241-2010 
 Licensee: Torus Therapeutics 

Cooperative Research and Development Agreement (CRADA) Number (if a subject invention): N/A 

Additional Remarks: N/A 
 Public Benefit(s): Development of Gene
Therapy Products 
 This Patent License Agreement, hereinafter referred to as the “Agreement”, consists of this Cover Page, an attached
Agreement, a Signature Page, Appendix A (List of Patent(s) or Patent Application(s)), Appendix B (Fields of Use and Territory), Appendix C (Royalties), Appendix D 

  
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((Benchmarks and Performance), Appendix E (Commercial Development Plan), Appendix F (Example Royalty Report), and Appendix G (Royalty Payment Options. 

The IC and the Licensee agree as follows: 
  

	1.	 BACKGROUND 

  

	 	1.1	 In the course of conducting biomedical and behavioral research, the IC investigators made inventions
that may have commercial applicability. 

  

	 	1.2	 By assignment of rights from the IC employees, HHS, on behalf of the Government, and
together with Association Institute de Myologie (AIM, Paris, FR), Centre National de la Recherche Scientifique (CNRS, Paris, FR), Universite Pierre et Marie Curie (UPMC, Paris, FR), and INSERM TRANSFERT SA (Paris, FR) (together “Co-Owner”) owns intellectual property rights claimed in any United States or foreign patent applications or patents corresponding to the assigned inventions. HHS also owns any tangible embodiments of
these inventions actually reduced to practice by the IC. 

  

	 	1.3	 The Secretary of HHS has delegated to the IC the authority to enter into this Agreement
for the licensing of rights to these inventions under 35 U.S.C. §§200-212, the Federal Technology Transfer Act of 1986, 15 U.S.C. §3710(a), and
the regulations governing the licensing of Government-owned inventions, 37 CFR Part 404. 

  

	 	1.4	 The IC desires to transfer these inventions to the private sector through commercialization licenses to
facilitate the commercial development of products and processes for public use and benefit. 

  

	 	1.5	 The Licensee desires to acquire commercialization rights to certain of these inventions in order to
develop processes, methods, or marketable products for public use and benefit. 

  

	2.	 Definitions 

  

	 	2.1	 “Affiliate(s)” means a corporation or other business entity, which directly or indirectly is
controlled by or controls, or is under common control with the Licensee. For this purpose, the term “control” shall mean ownership of more than fifty percent (50%) of the voting stock or other ownership interest of the corporation
or other business entity, or the power to elect or appoint more than fifty percent (50%) of the members of the governing body of the corporation or other business entity. 

 

	 	2.2	 “Benchmarks” mean the performance milestones that are set forth in Appendix D.

  
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	 	2.3	 “Commercial Development Plan” means the written commercialization plan attached as Appendix E.

  

	 	2.4	 “First Commercial Sale” means the initial transfer by or on behalf of the Licensee or
its sublicensees of Licensed Products or the initial practice of a Licensed Process by or on behalf of the Licensee or its sublicensees in exchange for cash or some equivalent to which value can be assigned for the purpose of
determining Net Sales. 

  

	 	2.5	 “Government” means the Government of the United States of America. 

 

	 	2.6	 “Licensed Fields of Use” means the fields of use identified in Appendix B.

  

	 	2.7	 “Licensed Patent Rights” shall mean: 

 

	 	(a)	 Patent applications (including provisional patent applications and PCT patent applications) or patents listed
in Appendix A, all divisions and continuations of these applications, all patents issuing from these applications, divisions, and continuations, and any reissues, reexaminations, and extensions of all these patents; 

 

	 	(b)	 to the extent that the following contain one or more claims directed to the invention or inventions disclosed
in 2.7(a): 

  

	 	(i)	 continuations-in-part of
2.7(a); 

  

	 	(ii)	 all divisions and continuations of these
continuations-in-part; 

  

	 	(iii)	 all patents issuing from these
continuations-in-part, divisions, and continuations; 

  

	 	(iv)	 priority patent application(s) of 2.7(a); and 

 

	 	(v)	 any reissues, reexaminations, and extensions of all these patents; 

 

	 	(c)	 to the extent that the following contain one or more claims directed to the invention or inventions disclosed
in 2.7(a): all counterpart foreign and U.S. patent applications and patents to 2.7(a) and 2.7(b), including those listed in Appendix A; and 

  

	 	(d)	 Licensed Patent Rights shall not include 2.7(b) or 2.7(c) to the extent that they contain one or
more claims directed to new matter which is not the subject matter disclosed in 2.7(a). 

  
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	 	2.8	 “Licensed Processes” means processes, which in the course of being practiced, would be within
the scope of one or more claims of the Licensed Patent Rights that have not expired or been abandoned or revoked or held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  

	 	2.9	 “Licensed Products” means tangible materials, which in the course of manufacture, use, sale,
or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not expired or been abandoned or revoked or held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a
court of competent jurisdiction. 

  

	 	2.10	 “Licensed Territory” means the geographical area identified in Appendix B.

  

	 	2.11	 “Net Sales” means the total gross receipts for sales of Licensed Products or practice
of Licensed Processes by or on behalf of the Licensee or its sublicensees, and from leasing, renting, or otherwise making Licensed Products available to others without sale or other dispositions, whether invoiced or not, less
returns and allowances, packing costs, insurance costs, freight out, taxes or excise duties imposed on the transaction (if separately invoiced), and trade, wholesaler and quantity discounts, chargebacks and rebates and cash discounts in amounts
customary in the trade to the extent actually granted. No deductions shall be made for commissions paid to individuals, whether they are with in dependent sales agencies or regularly employed by the Licensee, or sublicensees and on its
payroll, or for the cost of collections. Net Sales does not include (a) any sale or transfers between or among Licensee and its Affiliate(s) or sublicensees; provided that the subsequent sale of such Licensed Product to a
third-party end-user shall be included in Net Sales; (b) donations to non-profit institutions or government agencies or (c) use or practice for test marketing
promotional use or demonstration purposes, or for clinical trials or indigent patient programs. 

  

	 	2.12	 “Practical Application” means to manufacture in the case of a composition or product, to
practice in the case of a process or method, or to operate in the case of a machine or system; and in each case, under these conditions as to establish that the invention is being utilized and that its benefits are to the extent permitted by law or
Government regulations available to the public on reasonable terms. 

  

	3.	 GRANT OF RIGHTS 

 

	 	3.1	 The IC hereby grants, and the Licensee accepts, subject to the terms and conditions of this
Agreement, a nonexclusive license under the Licensed Patent Rights in the Licensed Territory to make and have made, research, have researched, to use and have used, to sell and have sold, to offer to sell, and to import any
Licensed Products in the Licensed Fields of Use and to practice and have practiced any Licensed Processes in the Licensed Fields of Use. 

  
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	 	3.2	 If the license granted to Licensee in Paragraph 3.1 is held to be invalid or otherwise ineffective with
respect to any of the Licensed Patent Rights on account of any failure by the IC to obtain the consent of a co-owner of such Licensed Patent Rights to the grant of such license, the
IC hereby covenants not to enforce such Licensed Patent Rights against Licensee or any of Licensee’s permitted sublicensees based on any making or having made, research, having researched, use or having used, sale or
having sold, offering to sell, or importation of any Licensed Products in the Licensed Fields of Use or practice or having practiced any Licensed Processes in the Licensed Fields of Use by or on behalf of Licensee
or any of Licensee’s permitted sublicensees, for so long as this Agreement remains in force, and the IC further covenants not to consent or agree to, and not to grant or transfer any right permitting or enabling the
undertaking of, any such enforcement by any third party. 

  

	 	3.3	 Licensee understands that, as of the date of this Agreement, NIH and/or IC,
on the one hand, and the Co-Owner, on the other hand, are or may be in discussions regarding a proposed inter-institutional agreement (the “Proposed IIA”) between them pursuant to which
they may enter into certain agreements regarding the licensing and administration of the Licensed Patent Rights. Licensee agrees, if requested by NIH and/or IC, to reasonably negotiate appropriate amendments to this
Agreement to conform with the Proposed IIA, if and when executed, and, whether or not the Proposed IIA is executed, shall agree to pay any portion of Licensee’s reimbursement obligations under Paragraphs 6.9 and 6.10
directly to Co-Owner as directed by the IC, provided that Licensee’s license hereunder shall remain in force and Licensee shall be treated on par with (or more favorably
than) other non-exclusive licensees of the Licensed Patent Rights. 

  

	 	3.4	 This Agreement confers no license or rights by implication, estoppel, or otherwise under any patent
applications or patents of the IC other than the Licensed Patent Rights regardless of whether these patents a redominant or subordinate to the Licensed Patent Rights. 

 

	4.	 SUBLICENSING 

  

	 	4.1	 The Licensee shall notify the IC in writing of its intent to sublicense, after which
Licensee may enter into sublicensing agreements under the Licensed Patent Rights only when it concurrently licenses proprietary or in-licensed intellectual property rights controlled by
Licensee in connection with Licensed Products or Licensed Processes. For the avoidance of doubt, the Licensee does not have the right to solely sublicense the Licensed Patent Rights. 

  
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	 	4.2	 The Licensee agrees that any sublicenses granted by it shall provide that the obligations to the
IC of paragraphs 5.1, 5.2, 8.1, 10.1, 10.2, 12.5, and 13.7-13.9 of this Agreement shall be binding upon the sublicensee as if it were a party to this Agreement. The Licensee further
agrees to attach copies of these Paragraphs to all sub license agreements. 

  

	 	4.3	 Any sublicenses granted by the Licensee shall provide for the termination of the sub license, or the
conversion to a license directly between the sublicensees and the IC, at the option of the sublicensee, upon termination of this Agreement under Article 13. This conversion is subject to the IC approval and contingent upon
acceptance by the sublicensee of the remaining provisions of this Agreement. 

  

	 	4.4	 The Licensee agrees to forward to the IC a complete copy of each fully executed sublicense
agreement postmarked within [**] of the execution of the agreement, which copy may be reasonably redacted as to confidential business information that is not required to enable the IC to confirm the compliance of the a sublicense agreement
with the requirements of this Agreement. To the extent permitted by law, the IC agrees to maintain each sublicense agreement in confidence. 

  

	5.	 STATUTORY AND NIH REQUIREMENTS AND RESERVED GOVERNMENT RIGHTS 

 

	 	5.1	 Prior to the First Commercial Sale, the Licensee agrees to provide the IC with reasonable
quantities of Licensed Products or materials made through the Licensed Processes for the IC’s non-clinical research use. 

 

	 	5.2	 The Licensee agrees that products used or sold in the United States embodying Licensed Products
or produced through use of Licensed Processes shall be manufactured substantially in the United States, unless a written waiver is obtained in advance from the IC. 

 

	6.	 ROYALTIES AND REIMBURSEMENT 

 

	 	6.1	 The Licensee agrees to pay the IC a noncreditable, nonrefundable license issue royalty as set
forth in Appendix C. 

  

	 	6.2	 The Licensee agrees to pay the IC a minimum annual royalty as set forth in Appendix C.

  

	 	6.3	 The Licensee agrees to pay the IC earned royalties as set forth in Appendix C.

  

	 	6.4	 The Licensee agrees to pay the IC benchmark royalties as set forth in Appendix C.

  

	 	6.5	 The Licensee agrees to pay the IC sublicensing royalties as set forth in Appendix C.

  
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	 	6.6	 A patent or patent application licensed under this Agreement shall cease to fall within the Licensed Patent
Rights for the purpose of computing earned royalty payments in any given country on the earliest of the dates that: 

  

	 	(a)	 the application has been abandoned and not continued; 

 

	 	(b)	 the patent expires or irrevocably lapses; or 

 

	 	(c)	 the patent has been held to be invalid or unenforceable by an unappealed or unappealable decision of a court of
competent jurisdiction or administrative agency. 

  

	 	6.7	 No multiple royalties shall be payable because any Licensed Products or Licensed Processes are
covered by more than one of the Licensed Patent Rights. 

  

	 	6.8	 On sales of Licensed Products by the Licensee to sublicensees or on sales made in other than an
arms-length transaction, the value of the Net Sales attributed under this Article 6 to this transaction shall be that which is received in a subsequent arms-length transaction from an end-user of the Licensed Products.

  

	 	6.9	 With regard to unreimbursed expenses associated with the preparation filing, prosecution, and maintenance of
all patent applications and patents included within the Licensed Patent Rights and paid by the IC and the Co-Owner prior to the effective date of this Agreement, the Licensee
shall pay the Co-Owner, as an additional royalty, within [**] of the Co-Owner’s submission of a statement (which will include summaries of patent
prosecution invoices) and request for payment to the Licensee, an amount equivalent to the unreimbursed patent expenses previously paid by the IC and the Co-Owner divided by the aggregate
number of commercial licensees of the Licensed Patent Rights, that are obligated to reimburse patent costs under similar such provision on the date of the Invoice. Notwithstanding, Licensee shall not be required to pay more than [**]
of such expenses. Such expenses are estimated to total [**] Euro ([**] US Dollars with an exchange rate of 1.07 US Dollar to Euro) as of January 18, 2017, and accordingly the Licensee’s payment obligation as of January 18,
2017 is estimated to be [**] Euro ([**] US Dollars). The conversion to US Dollars, if applicable, shall be made using the exchange rate published on the day the statement is received by Licensee. Unless otherwise indicated in Co-Owner’s request for payment, Licensee shall wire its payment obligation under Paragraph 6.9 to the following bank account: 

AIM SECTEUR LUCRATIF INSTITUT DE MYOLOGIE 

BNP PARIBAS 
 PARIS ASSOCIATIONS
(02837) 
 IBAN: [**] BIC: [**] 

Tax ID Number: [**] 

  
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 Payment under 6.9 shall not be due before the execution of an Inter-Institutional
Agreement between the IC and the Co-Owner. 
  

	 	6.10	 With regard to unreimbursed expenses associated with the preparation, filing, prosecution, and maintenance of
all patent applications and patents included within the Licensed Patent Rights and paid by the IC and the Co-Owner on or after the effective date of this Agreement, the IC,
at its sole option, may require the Licensee: 

  

	 	(a)	 to pay the Co-Owner on an annual basis, within [**] of the Co-Owner’s submission of a statement (which will include summaries of patent prosecution invoices) and request for payment, a royalty amount equivalent to these unreimbursed expenses paid during the
previous calendar year(s) divided by the aggregate number of commercial licensees of the Licensed Patent Rights, that are obligated to reimburse patent costs under similar such provision on the date of the Invoice; 

 

	 	(b)	 to pay these unreimbursed expenses directly to the law firm employed by the IC or the Co-Owner, as applicable, to handle these functions divided by the aggregate number of commercial licensees of the Licensed Patent Rights, that are obligated to reimburse patent costs under similar such
provision on the date of the Invoice. However, in this event, the IC or the Co-Owner, as applicable, and not the Licensee shall be the client of the law firm; or 

 

	 	(c)	 under exceptional circumstances, the Licensee may be given the right to assume responsibility for the
preparation, filing, prosecution, or maintenance of any patent application or patent included with the Licensed Patent Rights. In that event, the Licensee shall directly pay the attorneys or agents engaged to prepare, file, prosecute,
or maintain these patent applications or patents and shall provide the IC with copies of each invoice associated with these services as well as Co-Owner documentation that these invoices have
been paid. 

 Notwithstanding the foregoing, Licensee shall not be required to pay more than [**] of the amounts set forth in
clauses (a) and (b) above. 
 Payment under 6.10 shall not be due before the execution of an Inter-Institutional Agreement between the IC and
the Co-Owner. 
  

	 	6.11	 The Licensee may elect to surrender its rights in any country of the Licensed Territory under any
of the Licensed Patent Rights upon [**] written notice to the IC and owe no payment obligation under Paragraph 6.3, 6.4 or 6.10 in that country after the effective date of the written notice. 

  
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	7.	 PATENT FILING, PROSECUTION, AND MAINTENANCE 

The IC agrees that the Co-Owner will take responsibility for the preparation, filing, prosecution, and
maintenance of any and all patent applications or patents included in the Licensed Patent Rights, and that the will furthermore be responsible for submitting to the Licensee all statements regarding payments of patent expenses as per
Paragraphs 6.9 and 6.10. 
  

	8.	 RECORD KEEPING 

8.1 The Licensee agrees to keep accurate and correct records of Licensed Products made, used, sold, or imported and Licensed
Processes practiced under this Agreement appropriate to determine the amount of royalties due the IC. These records shall be retained for at least [**] following a given reporting period and shall be available during normal
business hours for inspection, at the expense of the IC, by an accountant or other designated auditor selected by the IC for the sole purpose of verifying reports and royalty payments hereunder. The accountant or auditor shall only
disclose to the IC information relating to the accuracy of reports and royalty payments made under this Agreement. If an inspection shows an underreporting or underpayment in excess of [**] percent ([**]%) for any twelve
(12) month period, then the Licensee shall reimburse the IC for the cost of the inspection at the time the Licensee pays the unreported royalties, including any additional royalties as required by Paragraph 9.8. All royalty
payments required under this Paragraph shall be due within [**] of the date the IC provides the Licensee notice of the payment due. 
  

	9.	 REPORTS ON PROGRESS, BENCHMARKS, SALES, AND PAYMENTS 

 

	 	9.1	 Prior to signing this Agreement, the Licensee has provided the IC with the Commercial
Development Plan in Appendix E, under which the Licensee intends to bring the subject matter of the Licensed Patent Rights to the point of Practical Application. This Commercial Development Plan is hereby incorporated
by reference into this Agreement. Based on this plan, performance Benchmarks are determined as specified in Appendix D. 

  

	 	9.2	 The Licensee shall provide written annual reports on its product development progress or efforts to
commercialize under the Commercial Development Plan for each of the Licensed Fields of Use within [**] after December 31 of each calendar year. These progress reports shall include, but not be limited to: progress on research and
development, status of applications for regulatory approvals, manufacture and status of sublicensing, marketing, importing, and sales during the preceding calendar year, as well as, plans for the present calendar year. The IC also encourages
these reports to include information on any of the Licensee’s public service activities that relate to the Licensed Patent Rights. If reported progress differs from that projected in the Commercial Development Plan and
Benchmarks, the Licensee shall explain the reasons for such 

  
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differences. In any annual report, the Licensee may propose amendments to the Commercial Development Plan, acceptance of which by the IC may not be denied unreasonably. The
Licensee agrees to provide any additional information reasonably required by the IC to evaluate the Licensee’s performance under this Agreement. The Licensee may amend the Benchmarks at any time upon
written approval by the IC. The IC shall not unreasonably withhold approval of any request of the Licensee to extend the time periods of this schedule if the request is supported by a reasonable showing by the Licensee of
diligence in its performance under the Commercial Development Plan and toward bringing the Licensed Products to the point of Practical Application. 

 

	 	9.3	 The Licensee shall report to the IC the dates for achieving Benchmarks specified in
Appendix D and the First Commercial Sale in each country in the Licensed Territory within [**] of such occurrences. 

  

	 	9.4	 The Licensee shall submit to the IC, within [**] after each calendar [**], a royalty report, as
described in the example in Appendix F, setting forth for the preceding [**] period, to the extent possible, an estimate of the amount of the Licensed Products sold or Licensed Processes practiced by or on behalf of the Licensee
in each country with in the Licensed Territory, the Net Sales and the amount of royalty accordingly due. With each royalty report, the Licensee shall submit payment of earned royalties due. If no earned royalties are due to the
IC for any reporting period, the written report shall so state. The royalty report shall be certified as correct by an authorized officer of the Licensee and shall include a detailed listing of all deductions made under Paragraph 2.11
to determine Net Sales made under Article 6 to determine royalties due. 

  

	 	9.5	 The Licensee agrees to forward [**] to the IC a copy of these reports received by the
Licensee from its sublicensees during the preceding [**] period as shall be pertinent to a royalty accounting to the IC by the Licensee for activities under the sublicense. 

 

	 	9.6	 Royalties due under Article 6 shall be paid in U.S. dollars and payment options are listed in Appendix G. For
conversion of foreign currency to U.S. dollars, the conversion rate shall be the New York foreign exchange rate quoted in The Wall Street Journal on the day that the payment is due, and any loss of exchange, value, taxes, or other expenses
incurred in the transfer or conversion to U.S. dollars shall be paid entirely by the Licensee. The royalty report required by Paragraph 9.4 shall be mailed to the IC at its address for Agreement Notices indicated on the Signature Page.

  

	 	9.7	 The Licensee shall be solely responsible for determining if any tax on royalty income is owed outside
the United States and shall pay this tax and be responsible for all filings with appropriate agencies of foreign governments. 

  
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	 	9.8	 Additional royalties may be assessed by the IC on any payment that is more than [**] overdue at the rate
of [**] percent ([**]%) per month. This [**] percent ([**]%) per month rate may be applied retroactively from the original due date until the date of receipt by the IC of the overdue payment and additional royalties. The payment of any
additional royalties shall not prevent the IC from exercising any other rights it may have as a consequence of the lateness of any payment. 

  

	 	9.9	 All plans and reports required by this Article 9 and marked “confidential” by the
Licensee shall, to the extent permitted by law, be treated by the IC as commercial and financial information obtained from a person and as privileged and confidential, and any proposed disclosure of these records by the IC under
the Freedom of Information Act (FOIA), 5 U.S.C. §552 shall be subject to the predisclosure notification requirements of 45 CFR §5.65(d). 

 

	10.	 PERFORMANCE 

  

	 	10.1	 The Licensee shall use its reasonable commercial efforts to bring the Licensed Products and
Licensed Processes to Practical Application. Licensee shall be deemed to have used “reasonable commercial efforts” if it has adhered to the Commercial Development Plan in Appendix E and performance of the
Benchmarks in Appendix D. The efforts of a sublicensee or an Affiliate shall be considered the efforts of the Licensee. 

  

	 	10.2	 The Licensee agrees, after its First Commercial Sale, to make reasonable quantities of
Licensed Products or materials produced through the use of Licensed Processes available to patient assistance programs if commercially practicable. 

 

	 	10.3	 The Licensee agrees, after its First Commercial Sale, and as part of its marketing and product
promotion, to develop educational materials (e.g., brochures, website, etc.) directed to patients and physicians detailing the Licensed Products or medical aspects of the prophylactic and therapeutic uses of the Licensed Products, if
commercially practicable and consistent with applicable regulations. 

  

	 	10.4	 The Licensee agrees to supply, to the Mailing Address for Agreement Notices indicated on the
Signature Page, the Office of Technology Transfer, NIH with a reasonable amount of inert samples of the Licensed Products or Licensed Processes or their packaging for educational and display purposes only. 

 

	11.	 INFRINGEMENT AND PATENT ENFORCEMENT 

 

	 	11.1	 The IC and the Licensee agree to notify each other promptly of each infringement or possible
infringement of the Licensed Patent Rights, as well as, any facts which may affect the validity, scope, or enforceability of the Licensed Patent Rights of which either Party becomes aware. 

  
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	 	11.2	 In the event that a declaratory judgment action alleging invalidity of any of the Licensed Patent Rights
shall be brought against the IC, the IC agrees to notify the Licensee that an action alleging invalidity has been brought. The IC does not represent that it shall commence legal action to defend against a declaratory
action alleging invalidity. The Licensee shall take no action to compel the Government either to initiate or to join in any declaratory judgment action. Should the Government be made a party to any suit by motion or any other
action of the Licensee, the Licensee shall reimburse the Government for any costs, expenses, or fees, which the Government incurs as a result of the motion or other action. Upon the Licensee’s payment of all
costs incurred by the Government as a result of the Licensee’s joinder motion or other action, these actions by the Licensee shall not be considered a default in the performance of any material obligation under this
Agreement. 

  

	12.	 NEGATION OF WARRANTIES AND INDEMNIFICATION 

 

	 	12.1	 The IC offers no warranties other than those specified in Article 1. 

 

	 	12.2	 The IC does not warrant the validity of the Licensed Patent Rights and makes no representations
whatsoever with regard to the scope of the Licensed Patent Rights, or that the Licensed Patent Rights may be exploited without infringing other patents or other intellectual property rights of third parties. 

 

	 	12.3	 THE IC MAKES NO WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY OR FITNESS FOR AP ARTICULAR PURPOSE
OF ANY SUBJECT MATIER DEFINED BY THE CLAIMS OF THE LICENSED PATENT RIGHTS OR TANGIBLE MATERIALS RELATED THERETO. 

  

	 	12.4	 The IC does not represent that it shall commence legal actions against third parties infringing the
Licensed Patent Rights. 

  

	 	12.5	 The Licensee shall indemnify and hold the IC, its employees, students, fellows, agents, and
consultants harmless from and against all liability, demands, damages, expenses, and losses, including but not limited to death, personal injury, illness, or property damage in connection with or arising out of: 

 

	 	(a)	 the use by or on behalf of the Licensee, its sublicensees, its directors, employees, or third parties of
any Licensed Patent Rights; or 

  

	 	(b)	 the design, manufacture, distribution, or use of any Licensed Products, Licensed Processes or
materials by the Licensee, or other products or processes developed in connection with or arising out of the Licensed Patent Rights. 

  

	 	12.6	 The Licensee agrees to maintain a liability insurance program consistent with so und business practice.

  
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	13.	 TERM, TERMINATION, AND MODIFICATION OF RIGHTS 

 

	 	13.1	 This Agreement is effective when signed by all parties, unless the provisions of Paragraph 14.15 are not
fulfilled, and shall extend on a Licensed Product-by-Licensed Product and country-by-country basis to the expiration of the last to expire of the Licensed Patent Rights covering the
Licensed Product in such country unless sooner terminated as provided in this Article 13. 

  

	 	13.2	 In the event that the Licensee is in default in the performance of any material obligations under
this Agreement, including but not limited to the obligations listed in Paragraph 13.5, and if the default has not been remedied within [**] after the date of notice in writing of the default, the IC may terminate this Agreement
by written notice and pursue outstanding royalties owed through procedures provided by the Federal Debt Collection Act. 

  

	 	13.3	 In the event that the Licensee becomes insolvent, files a petition in bankruptcy, has such a petition
filed against it, determines to file a petition in bankruptcy, or receives notice of a third party’s intention to file an involuntary petition in bankruptcy, the Licensee shall immediately notify the IC in writing.

  

	 	13.4	 The Licensee shall have a unilateral right to terminate this Agreement in any country or
territory by giving the IC sixty (60) days written notice to that effect. 

  

	 	13.5	 Subject to the cure provisions paragraphs 13.2 and 13.6, the IC shall specifically have the right to
terminate or modify, at its option, this Agreement, if the IC reasonably determines that the Licensee: 

  

	 	(a)	 is not executing the Commercial Development Plan submitted with its request for a license and the
Licensee cannot otherwise demonstrate to the IC’s satisfaction that the Licensee has taken, or can be expected to take within a reasonable time, effective steps to achieve Practical Application of the Licensed
Products or Licensed Processes; 

  

	 	(b)	 has not achieved the Benchmarks as may be modified under Paragraph 9.2; 

 

	 	(c)	 has willfully made a false statement of, or willfully omitted, a material fact in the license application or in
any report required by this Agreement; 

  

	 	(d)	 has committed a material breach of a covenant or agreement contained in this Agreement;

  

	 	(e)	 is not keeping Licensed Products or Licensed Processes reasonably available to the public after
commercial use commences; 

  

	 	(f)	 cannot reasonably satisfy unmet health and safety needs; or 

  
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	 	(g)	 cannot reasonably justify a failure to comply with the domestic production requirement of Paragraph 5.2, unless
waived. 

  

	 	13.6	 In making the determination referenced in Paragraph 13.5, the IC shall take into account the normal
course of such commercial development programs conducted with sound and reasonable business practices and judgment and the annual reports submitted by the Licensee under Paragraph 9.2. Prior to invoking termination or modification of this
Agreement under Paragraph 13.5, the IC shall give written notice to the Licensee providing the Licensee specific notice of, and a [**] opportunity to respond to the IC’s concerns as to the items reference d in
13.5(a)-13.5(g). If the Licensee fails to alleviate the IC’s concerns as to the items referenced in 13.5(a)-13.5(g) or fails to initiate connective
action to the IC’s satisfaction, the IC may terminate this Agreement. Notwithstanding the above, with respect to items 13.5(e) and 13.5(f), the IC may only terminate the license with respect to the specific
Licensed Product which gave rise to the IC’s concern regarding such items; this Agreement will otherwise remain in full force and effect. 

 

	 	13.7	 The IC reserves the right according to 35 U.S.C. §209(d)(3) to
terminate or modify this Agreement if it is reasonably determined that the action is necessary to meet the requirements for public use specified by federal regulations issued after the date of the license and these requirements are not
reasonably satisfied by the Licensee. 

  

	 	13.8	 Within [**] of receipt of written notice of the IC’s unilateral decision to modify or
terminate this Agreement, the Licensee may, consistent with the provisions of 37 CFR §404.11, appeal the decision by written submission to the designated the IC official. The decision of the designated
IC official shall be the final agency decision. The Licensee may thereafter exercise any and all administrative or judicial remedies that may be available. 

 

	 	13.9	 Within [**] of expiration or termination of this Agreement under this Article 13, a final report shall
be submitted by the Licensee. Any royalty payments, including those incurred but not yet paid (such as the full minimum annual royalty), and those related to patent expense, due to the IC shall become immediately due and payable upon
termination or expiration. If terminated under this Article 13, sublicensees may elect to convert their sublicenses to direct licenses with the IC pursuant to Paragraph 4.3. Unless otherwise specifically provided for under this
Agreement, upon termination or expiration of this Agreement , the Licensee shall return all Licensed Products or other materials included within the Licensed Patent Rights to the IC or provide the IC
with written certification of the destruction thereof to the extent the same are covered by Licensed Patent Rights at such time. The Licensee may not be granted additional IC licenses if the final reporting requirement is not
fulfilled. 

  
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	14.	 GENERAL PROVISIONS 

 

	 	14.1	 Neither party may waive or release any of its rights or interests in this Agreement except in writing.
The failure of the Government to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement shall not constitute a waiver of that right by the Government or excuse a similar subsequent
failure to perform any of these terms or conditions by the Licensee. 

  

	 	14.2	 This Agreement constitutes the entire agreement between the Parties relating to the subject matter of
the Licensed Patent Rights, Licensed Products and Licensed Processes, and all prior negotiations, representations, agreements, and understandings are merged into, extinguished by, and completely expressed by this
Agreement. 

  

	 	14.3	 The provisions of this Agreement are severable, and in the event that any provision of this
Agreement shall be determined to be invalid or unenforceable under any controlling body of law, this determination shall not in any way affect the validity or enforceability of the remaining provisions of this Agreement.

  

	 	14.4	 If either party desires a modification to this Agreement, the parties shall, upon reasonable notice of
the proposed modification by the party desiring the change, confer in good faith to determine the desirability of the modification. No modification shall be effective until a written amendment is signed by the signatories to this Agreement or
their designees. 

  

	 	14.5	 The construction, validity, performance, and effect of this Agreement shall be governed by Federal law
as applied by the Federal courts in the District of Columbia. 

  

	 	14.6	 All Agreement notices required or permitted by this Agreement shall be given by prepaid, first
class, registered or certified mail or by an express/overnight delivery service provided by a commercial carrier, properly addressed to the other party at the address designated on the Signature Page, or to any other address as may be designated in
writing by such other party. Agreement notices shall be considered timely if such notices are received on or before the established deadline date or sent on or before the deadline date as verifiable by U.S. Postal Service postmark or dated
receipt from a commercial carrier. Parties should request a legibly dated U.S. Postal Service postmark or obtain a dated receipt from a commercial carrier or the U.S. Postal Service. Private metered postmarks shall not be acceptable as proof of
timely mailing. 

  

	 	14.7	 This Agreement shall not be assigned or otherwise transferred (including any transfer by legal process
or by operation of law, and any transfer in bankruptcy or insolvency, or in any other compulsory procedure or order of court), except to the Licensee’s Affiliate(s) or in connection with a sale or transfer of all or

  
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substantially all of Licensee’s business or assets relating to the subject matter of this Agreement, whether by merger, sale of assets or otherwise, without the prior written
consent of the IC. The parties agree that the identity of the parties is material to the formation of this Agreement and that the obligations under this Agreement are nondelegable, other than to Affiliates or in connection with
the merger, sale, or transfer referred to above. In the event that the IC approves a proposed assignment, the Licensee shall pay the IC, as an additional royalty, [**] percent ([**]%) of the fair market value of consideration
received specifically related to the assignment of this Agreement, as calculated in good faith by the Licensee, taking into consideration the relative value of the Licensed Patent Rights in the context of all other intellectual
property associated with any such assignment, within [**] of the assignment. 

  

	 	14.8	 The Licensee agrees in its use of any IC-supplied materials to comply with all applicable
statutes, regulations, and guidelines, including the NIH and the HHS regulations and guidelines. The Licensee agrees not to use the materials for research involving human subjects or clinical trials in the United States without
complying with 21 CFR Part 50 and 45 CFR Part 46. The Licensee agrees not to use the materials for research involving human subjects or clinical trials outside of the United States without notifying the IC, in writing, of
the research or trials and complying with the applicable regulations of the appropriate national control authorities. Written notification to the IC of research involving human subjects or clinical trials outside of the United States shall be
given no later than [**] prior to commencement of the research or trials. 

  

	 	14.9	 The Licensee acknowledges that it is subject to and agrees to abide by the United States laws and
regulations (including the Export Administration Act of 1979 and Arms Export Control Act) controlling the export of technical data, computer software, laboratory prototypes, biological materials, and other commodities. The transfer of
these items may require a license from the appropriate agency of the Government or written assurances by the Licensee that it shall not export these items to certain foreign countries without prior approval of the agency. The IC
neither represents that a license is or is not required or that, if required, it shall be issued. 

  

	 	14.10	 The Licensee agrees to mark the Licensed Products or their packaging sold in the United States
with all applicable U.S. patent numbers and similarly to indicate “Patent Pending” status. All Licensed Products manufactured in, shipped to, or sold in other countries shall be marked in a manner to preserve the IC patent
rights in those countries. 

  

	 	14.11	 By entering into this Agreement, the IC does not directly or indirectly endorse any product or
service provided, or to be provided, by the Licensee whether directly or indirectly related to this Agreement. The Licensee shall not state or imply that this Agreement is an endorsement by the Government, the
IC, any 

  
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other Government organizational unit, or any Government employee. Additionally, the Licensee shall not use the names of the IC, NIH, FDA or HHS or
the Government or their employees in any advertising, promotional, or sales literature without the prior written approval of the IC. 

  

	 	14.12	 The Parties agree to attempt to settle amicably any controversy or claim arising under this Agreement or
a breach of this Agreement, except for appeals of modifications or termination decisions provided for in Article 13. The Licensee agrees first to appeal any unsettled claims or controversies to the designated the IC official, or
designee, whose decision shall be considered the final agency decision. Thereafter, the Licensee may exercise any administrative or judicial remedies that may be available. 

 

	 	14.13	 Nothing relating to the grant of a license, nor the grant itself, shall be construed to confer upon any
person any immunity from or defenses under the antitrust laws or from a charge of patent misuse, and the acquisition and use of rights pursuant to 37 CFR Part 404 shall not be immunized from the operation of state or Federal law by reason of
the source of the grant. 

  

	 	14.14	 Paragraphs 8.1, 9.7-9.9,
12.1-12.5, 13.8, 13.9, 14.12 and 14.14 of this Agreement shall survive termination of this Agreement. 

  

	 	14.15	 The terms and conditions of this Agreement shall, at the IC’s sole option, be considered by the
IC to be withdrawn from the Licensee’s consideration and the terms and conditions of this Agreement, and the Agreement itself to be null and void, unless this Agreement is executed by the Licensee and a
fully executed original is received by the IC within [**] from the date of the IC signature found at the Signature Page. 

SIGNATURES BEGIN ON NEXT PAGE 

  
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 NIH PATENT LICENSE AGREEMENT NONEXCLUSIVE – SUBLICENSABLE 

 

					
		  		  	SIGNATURE PAGE
			
	For the IC:	  	    	  	
			
	 /s/ Alan H. Deutch_
	  		  	2017.02.02
	Name: Alan H. Deutch, Ph.D	  		  	Date:

 Title: Director 
 Office: Office
of Technology Transfer and Development (OTTAD) 
 NHLBI 

National Institute of Health 
 Mailing Address or Email Address
for Agreement notices and reports: 
 License Compliance and Administration 

Monitoring & Enforcement 
 Office of Technology Transfer

 National Institutes of Health 
 6011 Executive Boulevard,
Suite 325 
 Rockville, Maryland 20852-3803 U.S.A. 
 E-Mail: LicenseNotices_Reports@mail.nih.gov 
 For the Licensee (Upon, information and belief, the
undersigned expressly certifies or affirms that the contents of any statements of the Licensee made or referred to in this document are truthful and accurate.): 

By: 
  

					
	 /s/ Jason Rhodes
	  	    	  	
	Signature of Authorized Official	  		  	Date: February 2, 2017
			
	 Jason Rhodes
	  		  	
	Printed Name	  		  	
			
	 Chairman
	  		  	
	Title	  		  	

  
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	I.	 Official and Mailing Address for Agreement notices: 

 

	
	 Jason Rhodes

	Name
	Name:
	
	 Chairman

	Title:
	
	Mailing Address
	
	 Torus Therapeutics, Inc.

	
	 400 Technology Square, 10th Floor

	
	 Cambridge, MA 02139

	
	  

	
	Email Address:         [**]                    
	
	Phone:                                 
	
	Fax:                                    

  

	II.	 Official and Mailing Address for Financial notices (the Licensee’s contact person for royalty
payments) 

  

	
	 Jason Rhodes

	Name
	
	 Chairman

	Title
	
	Mailing Address:
	 Torus Therapeutics, Inc.

	
	 400 Technology Square, 10th Floor

	
	 Cambridge, MA 02139

	
	  

  
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	Email Address:	 	 [**]

	Phone:	 	 857-201-2700

	Fax:	 	  

 Any false or misleading statements made, presented, or submitted to the Government, including any relevant omissions,
under this Agreement and during the course of negotiation of this Agreement are subject to all applicable civil and criminal statutes including Federal statutes 31U.S.C. §§1001 (criminal liability including fine(s) and/or
imprisonment). 

  
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 APPENDIX C - ROYALTIES 

Royalties: 
  

	I.	 The Licensee agrees to pay to the IC a non-creditable,
nonrefundable license issue royalty in the amount of [**] ($[**]) US dollars. 

  

	II.	 The Licensee agrees to pay to the IC a nonrefundable minimum annual royalty in the amount of [**]
Dollars ($[**]) as follows: 

  

	 	(a)	 The first minimum annual royalty is due within [**] of the first January 1 following the effective date of
this Agreement. For the sake of clarity, if the Effective date of this Agreement is January 15, 2017, then the first minimum annual royalty shall be due within [**] of January 1, 2018; and 

 

	 	(b)	 Subsequent minimum annual royalty payments are due and payable on January 1 of each calendar year and may
be credited against any earned royalties due for sales made in that year. 

  

	III.	 The Licensee agrees to pay the IC earned royalties of [**] percent ([**]%) on Net Sales by or on
behalf of Licensee or its sub licensees on a Licensed Product-by-Licensed Product and country-by- country basis until the expiration of the last-to-expire Licensed Patent Rights covering such Licensed Product in such country. Licensee may deduct up to [**] percent ([**]%) of third party
payments made by Licensee, Licensee’s Affiliates, or Sublicensee to a third party for Licensed Product and/or Licensed Processes from the respective royalty due the IC, excluding payments made to University of
Massachusetts Medical School for licensed technology under agreements that exist as of the effective date of this Agreement or for payments made to the NIH/IC for closely related technology on which Robert Kotin is an inventor
and for which the intellectual property filing is in process as of the effective date of this Agreement. However, the royalty payments may not be reduced by more than [**]% of what would have been owed to the IC without such allowed
reduction, which means that the earned royalties cannot be reduced below [**]% 

  

	IV.	 The Licensee agrees to pay the IC one-time Benchmark
royalties per Licensed Product within [**] of achieving each Benchmark: 

  

	 	(a)	
[**]                       
                                         
                                        $[**]

  

	 	(b)	
[**]                       
                                         
                                        $[**]

  

	 	(c)	
[**]                       
                                         
                                        $[**]

  

	 	(d)	
[**]                       
                                         
                                        $[**]

  

	 	(e)	
[**]                       
                                         
                                        $[**]

  
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 Total one-time Benchmark payments per
Licensed Product developed or commercialized under the Agreement, regardless of the number of indications in which such Licensed Product might be pursued or app roved, shall not exceed $350,000.
One-time milestones are not payable for Licensed Products that encode a transgene with substantially similar protein function as a Licensed Product for which
one-time Benchmark payments have already been made. 
  

	V.	 The Licensee agrees to pay the IC additional sublicensing royalties of [**] percent ([**]%) of
consideration (Sublicense Consideration) received for the granting of each sublicense under Section 4.4 that is reasonably allocable, as determined in good faith by the Licensee, to the grant of a sublicense of the rights granted to the
Licensee under the Licensed Patent Rights within [**] of the execution of such sublicense. Sub license Consideration shall not include: (a) license maintenance fees, (b) payments made in consideration for the issuance of
equity or debt securities of Licensee, (c) payments made for the reimbursement of, or committed to, research and development or reimbursement of patent prosecution, defense, enforcement and maintenance costs, (d) milestone or
benchmark payments or (e) royalties or other profit sharing. 

  
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 PUBLIC HEALTH SERVICE 

Amendment 
 This Agreement is based on the
model Amendment Agreement adopted by the U.S. Public Health Service (“PHS”) Technology Transfer Policy Board for use by components of the National Institutes of Health (“NIH”), the Centers for Disease Control and
Prevention (“CDC”), and the Food and Drug Administration (“FDA”), which are agencies of the PHS within the Department of Health and Human Services (“HHS”). 

This Cover Page identifies the Parties to this Agreement: 

The U.S. Department of Health and Human Services, as represented by 

NHLBI 
 an Institute or Center
(hereinafter referred to as the “IC”) of the 
 NIH 

and 
 GenerationBio, 

hereinafter referred to as the “Licensee”, 

having offices at 301 Binney Street, 4th Floor, Cambridge, MA 02142 

created and operating under the laws of Delaware. 

Tax ID No.: 814301284 

  
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	  	DATE: – June 20, 2019

 First AMENDMENT TO
L-124-2017/0 
 This is the First amendment (“First
Amendment”) of the agreement by and between the IC and Licensee having an effective date of February 02, 2017 and having IC Reference Number
L-124-2017/0 (“Agreement”). This First Amendment, having IC Reference Number L-124-2017/1 includes, in addition to the amendments made below, 1) a Signature Page, and 2) Attachment 1 (Royalty Payment Information). 

WHEREAS, the IC and the Licensee desire that the Agreement be amended a first time as set forth below in order to 1) clarify the dates of
patent costs reimbursement, 2) clarify that the nonexclusive license hereunder is granted to Licensee by all owners of the Licensed Intellectual Property, and 3) add a new clause related to public health. 

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the IC and the Licensee, intending to be bound, hereby
mutually agree to the following: 
  

	1)	 Replace Paragraph 3.1 with the following: 

The IC and the Co-Owner hereby grant and the Licensee accepts, subject to the
terms and conditions of this Agreement, a nonexclusive license under the Licensed Patent Rights in the Licensed Territory to make and have made, research, have researched, to use and have used, to sell and have sold, to offer to
sell, and to import any Licensed Products in the Licensed Fields of Use and to practice and have practiced any Licensed Processes in the Licensed Fields of Use. The IC represents that it and the Co-Owner have entered into an Inter-Institutional Agreement dated June 24, 2019, under which the IC has the authority to grant licenses under
Co-Owner’s ownership rights in the Licensed Patent Rights. 
  

	2)	 Replace Paragraph 6.9 with the following: 

With regard to unreimbursed expenses associated with the preparation, filing, prosecution, and maintenance of all patent applications and
patents included within the Licensed Patent Rights and paid by the Co-Owner prior to the date listed on the Co-Owner’s first request for
payment, the Licensee shall pay the Co-Owner, as an additional royalty, within [**] of the Co-Owner’s submission of a request for payment
(which will include summaries of patent prosecution invoices) to the Licensee, an amount equivalent to the unreimbursed patent expenses previously paid by the Co-Owner, divided by the aggregate
number of commercial licensees of the Licensed Patent Rights that are obligated to reimburse patent expenses under similar such provision, on the date of the request for payment. Notwithstanding, Licensee shall not be required to pay
more than [**] of such total patent expenses. The payment shall be made in Euro or in US Dollars. The conversion to US Dollars, if applicable, shall be made using the exchange rate published on the day the statement is received by Licensee.

 Unless otherwise indicated in Co-Owner’s request for payment, Licensee shall
wire its payment obligation under Paragraph 6.9 to the following bank account: 
 AIM SECTEUR LUCRATIF INSTITUT DE MYOLOGIE 

BNP PARIBAS 
 PARIS ASSOCIATIONS
(02837) IBAN: [**] 
 BIC: [**] 

Tax ID Number: [**] 

  
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	3)	 Replace Paragraph 6.10 with the following: 

With regard to reasonable unreimbursed expenses (such that do not include expenses incurred due to unwarranted extensive delays caused by gross
negligence of the Co-Owner) associated with the preparation, filing, prosecution, and maintenance of all patent applications and patents included within the Licensed Patent Rights and paid by the
Co-Owner on or after the date of the Co-Owner’s first request for payment referenced in Paragraph 6.9, the IC, at its sole option, may require the
Licensee 
 to pay the Co-Owner on an annual basis, within [**] of the Co-Owner’s submission of a request for payment (which will include summaries of patent prosecution invoices), a royalty amount equivalent to these unreimbursed expenses paid during the previous year divided
by the aggregate number of commercial licensees of the Licensed Patent Rights that are obligated to reimburse patent expenses under a similar such provision; 

The payment shall be made in Euro or in US Dollars. The conversion to US Dollars, if applicable, shall be made using the exchange rate
published on the day the request for payment is received by Licensee. 
 under exceptional circumstances, the Licensee may be
given the right to assume responsibility for the preparation, filing, prosecution, or maintenance of any patent application or patent included with the Licensed Patent Rights. In that event, the Licensee shall directly pay the
attorneys or agents engaged to prepare, file, prosecute, or maintain these patent applications or patents and shall provide the IC with copies of each invoice associated with these services as well as documentation that these invoices have
been paid. 
 Notwithstanding the foregoing, the Licensee’s payment obligation under paragraph 6.10 shall not exceed [**] of the
total patent expenses for the year. 
  

	4)	 In Article 10: “Performance” add Paragraph 10.5 as follows: 

For gene therapy products for the treatment of rare diseases Licensee shall make commercially reasonable efforts: 

 

	 	(i)	 to pursue broad international patient accessibility for products commercialized under the license such that the
conditions of commercialization of the products under the licence shall not constitute a material obstacle to the ability of patients suffering rare diseases to have reasonable access to such product for their own treatment, taking into account any
existing and applicable regulatory and reimbursement systems and any other applicable legal and regulatory regimes on a relevant national, international or regional level, and as the case may be, by voluntarily joining accredited programs such as
Patient Assistance Program (PAP) or global equivalents thereof, if it is reasonably feasible to do so; 

  
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	 	(ii)	 in the event of early termination of the Agreement, Licensee shall negotiate in good faith with
the Co-Owner, or the existing and future licensees of the Licensed Patent Rights, a license to intellectual property rights that (a) claim the relevant Licensed Product or the use of
the relevant Licensed Product, (b) were generated by Licensee as part of its development of the relevant Licensed Product, (c) are owned by Licensee, and (d) but for having a license under which the
manufacture, use, sale, offer for sale or import of the relevant Licensed Product by the Co-Owner or such existing or future licensee would infringe such intellectual property rights, on market
terms and conditions negotiated in a bona fide manner; 

  

	 	(iii)	 to reasonably seek the grant of a conditional (EU) or accelerated (US) approval for eligible patients, in
keeping with applicable legal and regulatory regimes; and 

  

	 	(iv)	 to reasonably accommodate requests for pre-approval compassionate
access to Licensed Products provided that such access is: (a) feasible, (b) in keeping with applicable legal and regulatory regimes, and (c) Licensee retains control over the Licensed Products and their dissemination.

  

	5)	 In the event any provision(s) of the Agreement is/are inconsistent with Attachment 1, such provision(s)
is/are hereby amended to the extent required to avoid such inconsistency and to give effect to the shipping and payment information in such Attachment 1. 

  

	6)	 All terms and conditions of the Agreement not herein amended remain binding and in effect.

  

	7)	 The terms and conditions of this First Amendment shall, at the IC’s sole option, be
considered by the IC to be withdrawn from the Licensee’s consideration and the terms and conditions of this First Amendment, and the First Amendment itself, to be null and void, unless this First Amendment is
executed by the Licensee and a fully executed original is received by the IC within [**] from the date of the IC’s signature found at the Signature Page. 

 

	8)	 This First Amendment is effective on the date it is executed by all parties. 

SIGNATURES BEGIN ON NEXT PAGE 

  
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 FIRST AMENDMENT TO
L-124-2017/0 
 SIGNATURE PAGE 

In Witness Whereof, the parties have executed this First Amendment on the dates set forth below. Any communication or notice to be given shall
be forwarded to the respective addresses listed below. 
 For the IC: 
  

					
	 /s/ Vincent A. Kolesnitchenko, Ph.D.

Vincent Kolesnitchenko, Ph.D. on behalf of Cecilia Pazman, Ph.D.

Acting Director
 Office of Technology Transfer and Development

National Heart, Lung, and Blood Institute
 National Institutes of
Health
	 	     
 

 

 
	  	 2019.07.10
 Date

 Mailing Address or E-mail Address for Agreement notices and reports: 

License Compliance and Administration 
 Monitoring &
Enforcement 
 Office of Technology Transfer 
 National
Institutes of Health 
 6011 Executive Boulevard, Suite 325 

Rockville, Maryland 20852-3804 U.S.A. 
 E-mail: LicenseNotices_Reports@mail.nih.gov 
 For the Licensee (Upon information and belief, the undersigned
expressly certifies or affirms that the contents of any statements of the Licensee made or referred to in this document are truthful and accurate.): 
  

					
	 /s/ Geoffrey McDonough

Signature of Authorized Official
	 	     
 
	  	 July 1, 2019
 Date

 Name: Geoffrey McDonough 
 Title:
Chief Executive Officer 

  
 A-266-2019 

 

					
	 CONFIDENTIAL-NIH
 First Amendment of
L-124-2017/0
 Model 10-2015
	  	 Final GenerationBio

Page 5 of 12
	  	DATE: - June 20, 2019

	I.	 Official and Mailing Address for Agreement notices: 

 

	
	 Jennifer Elliot

	Name
	
	 Chief Legal Officer

	Title
	
	Mailing Address:
	
	 301 Binney St., Suite 401

	
	 Cambridge, MA 02142

	
	  

	
	  

	
	Email Address: [**]                                
	
	Phone:
[**]                                        

	
	Fax:
                                         
           

  

	II.	 Official and Mailing Address for Financial notices (the Licensee’s contact person for royalty
payments): 

  

	
	 Thomas Graney

	Name
	
	 Chief Financial Officer

	Title
	
	Mailing Address:
	
	 301 Binney St., Suite 401

	
	 Cambridge, MA 02142

	
	  

	
	  

	
	Email Address: [**]                                
	
	Phone:
                                        

	
	Fax:
                                         
           

 Any false or misleading statements made, presented, or submitted to the Government, including any relevant omissions,
under this Agreement and during the course of negotiation of this Agreement are subject to all applicable civil and criminal statutes including Federal statutes 31 U.S.C. §§3801-3812 (civil
liability) and 18 U.S.C. §1001 (criminal liability including fine(s) or imprisonment). 

  
 A-266-2019 

 

					
	 CONFIDENTIAL-NIH
 First Amendment of
L-124-2017/0
 Model 10-2015
	  	 Final GenerationBio

Page 6 of 12
	  	DATE: – June 20, 2019EX-10.13

 Exhibit 10.13 

Torus Therapeutics, Inc. 
 October 12, 2017

 Geoffrey McDonough 
 Dear Geoff: 

On behalf of Torus Therapeutics, Inc. (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 its President and Chief Executive Officer (“CEO”). 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 October 16, 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; provided, however, that it is understood and agreed that you currently provide services to
the entities listed on Exhibit A attached hereto and will be permitted to serve on boards of directors for other companies with the prior consent of the to the Company’s Board of Directors (the “Board”), such consent not to be
unreasonably withheld, conditioned or delayed; provided, further, that such activities do not materially interfere with the performance of your duties and responsibilities hereunder and do not violate the Restrictive Covenant Agreement (as defined
below). You will be appointed to the Board, effective upon the earlier of (i) December 31, 2017 and (ii) such time as the Company has issued and sold from and after the date hereof equity securities having an aggregate purchase price
of $15,000,000, and shall serve on the Board as long as you are CEO. 
 2. Base Salary. You will receive a base salary at the semi-monthly rate of
$16,666.66, which is equivalent to $400,000.00 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 Board
in its sole discretion. 
 3. Bonus. Following the end of each fiscal year during the term of your employment commencing with the year ended
December 31, 2017, you will be eligible to receive an annual incentive bonus for such fiscal year with a target of forty percent (40%) of your annual Base Salary. The bonus will be based on criteria established by the Board and shall be
determined by the Board 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. Except as otherwise provided in Section 6, you must remain employed by the Company
as of the last day of a fiscal year in order to be eligible for and to earn a bonus for such year. Any bonus for the year ended December 31, 2017 will be pro-rated to reflect the period of time you were
employed by the Company in 2017. 

 4. Equity. 

a. Equity Grants. Subject to the approval of the Board, 

i. you shall receive a restricted stock award for 2,812,500 shares of the Company’s common stock (the “Initial Shares”).
The issuance of such Initial 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 Initial Shares. The number of Initial Shares that are vested at any particular time shall be equal to the Applicable Percentage at such time multiplied by the number of Qualifying Shares at such time. For this
purpose, (a) the “Applicable Percentage” shall equal 0% prior to the first anniversary of the Start Date, 25% on the first anniversary of the Start Date, and an additional 6.25% for each completed quarter thereafter until the fourth
anniversary of the Start Date, and (b) “Qualifying Shares” shall mean a number of shares, up to a maximum of the total number of Initial Shares, equal to 6.25% of the Company’s fully diluted capitalization (reflecting then outstanding
capital stock and stock options) at a particular time; and 
 ii. additionally, at such times as the Company issues and sells shares of its
capital stock for capital raising purposes, it shall grant to you (at your option) 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 6.25% of the
Company’s fully diluted capitalization (reflecting then outstanding capital stock and 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: (i) following such time as the Company has issued and sold equity securities having an aggregate purchase price of $50,000,000 or (ii) with respect to any equity securities issued and sold that generate proceeds in excess of
such $50,000,000. 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. 
 Any such grant will 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 (other than the grant of the Initial Shares), you shall be entitled to elect to receive such grant in Restricted Shares or
Options, provided that any Restricted Shares or Options granted hereunder shall have a purchase price per share or 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. 
 b. Right to Purchase Additional Shares. At the time of the first issuance and sale
of shares of a series of preferred stock of the Company after the Start Date (the “Series A Financing”), provided that you are then an employee of the Company, you shall have the right to purchase up to two hundred thousand
(200,000) shares of the preferred stock issued and sold in the Series A Financing for a purchase price equal to the price at which such shares are issued and 

  
 2 

 
sold in the Series A Financing, provided that you exercise such right on or prior to the first closing of the Series A Financing and execute and deliver to the Company the purchase documents
executed and delivered by other purchasers in the Series A Financing. Alternately, upon the mutual agreement of you and the Company, you may invest up to $200,000 in a SAFE issued by the Company on substantially the same terms as the Company’s
outstanding SAFEs. 
 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 as in effect from time to time. 
 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, (ii) have resigned as a member of the Board of Directors of the Company or any subsidiary of the
Company, to the extent that you are then a director of the Company or 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 but does not include any restrictive covenants other than those you agreed to prior to the Involuntary Termination (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 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 Initial Shares, Restricted Shares, Options, Additional Grants 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 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. 

  
 3 

 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 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 twelve (12) months; 
 iii. To the extent determined by the Board acting in
its sole discretion, the Company shall pay you a cash bonus of up to your target bonus for the year in which the termination occurs, subject to pro-ration for the period of such year you are employed by the
Company. 
 iv. If, to the extent legally permissible, you elect COBRA health continuation with respect to the Company’s group health
plan, then the Company shall pay you a monthly cash payment for twelve (12) months, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to you 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. 

v. Twenty-five percent (25%) of the unvested portion of the Qualifying Shares as of the termination date in the case of the Initial Shares and
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) 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 (ii) if the Separation Agreement does not become enforceable and irrevocable in accordance with this offer
letter, the portions of the Initial Shares, Restricted Shares, Options and any Additional Grants that have vested as a result of this provision shall be cancelled effective as of the date of the Involuntary Termination. 

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. 

  
 4 

 7. Change in Control. Notwithstanding anything in this Agreement to the contrary, 

a. upon the consummation of a Change in Control, your employment shall automatically terminate and you shall be entitled to receive the
benefits provided for in Section 6 of this offer letter as if such termination was an Involuntary Termination; provided, however that, if requested by the acquiring, surviving or resulting entity, you shall agree to continue to provide services
to the Company following such termination as an employee of or consultant to the Company for a period of up to six months as may be requested by the acquiring, surviving or resulting entity for which you shall be paid a monthly amount equal to your
monthly Base Salary immediately prior to the Change in Control; and 
 b. upon a Change in Control, one hundred percent (100%) of the
unvested portion of the Qualifying Shares as of the date of the Change in Control in the case of the Initial Shares and of the unvested portion of each grant of the Restricted Shares, each Option and each Additional Grant will fully vest as of the
date of the Change in Control. 
 8. Representation Regarding Continuing Obligations. Your employment is contingent upon your signing and adhering to
the Company’s Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement (the “Restrictive Covenant
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. 
 9. 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. 

10. 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. 

  
 5 

 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. 

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. 
 11. Interpretation, Amendment and Enforcement. This offer letter, along with the Restrictive Covenant
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. 

12. 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. 
 13. 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 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 (iii) any unpaid but earned bonus for a fiscal year preceding the year in which your employment is terminated. 

  
 6 

 b. “Cause” means (i) your material breach of the Restrictive Covenant
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. 
 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 a majority (by voting power) 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 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); 
 ii. Your removal from the Board or a failure by the Company to nominate you for reelection to the Board
by the stockholders of the Company; 
 iii. A requirement that you report to a corporate officer or employee instead of reporting directly to
the Board; 
 iv. A material diminution of your authority, duties, or responsibilities; 

v. A relocation of your principal workplace by more than forty (40) miles; or 

vi. A material breach of this Agreement by the Company. 

  
 7 

 A Resignation for Good Reason will not be deemed to have occurred unless (i) you give
the Company written notice of the condition within ninety (90) days after the condition comes into existence, (ii) the Company fails to remedy the condition within thirty (30) days after receiving your written notice (the
“Cure Period”) and (iii) you resign within thirty (30) days after the expiration of the Cure Period. 
 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). 

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 Restrictive Covenant Agreement. If you do not accept this offer by October 13, 2017, this offer will be
deemed revoked. 
 [Remainder of Page Intentionally Left Blank] 

  
 8 

 Very truly yours, 

Torus Therapeutics, Inc. 
  

	
	 /s/ Jason Rhodes

	Jason Rhodes
	Chief Executive Officer

 The foregoing correctly sets forth the terms of my at-will employment with Torus
Therapeutics, Inc. I am not relying on any representations other than those set forth above. 
  

					
	 /s/ Geoff McDonough
	  		  	         10/12/17

	Geoff McDonough	  		  	Date

  
 9

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