Document:

EX-10.2

 Exhibit 10.2 

February 28, 2006 
 BELLICUM
PHARMACEUTICALS, INC. 
 2006 STOCK OPTION PLAN 

SECTION 1. Purpose of the Plan. The purpose of this Bellicum Pharmaceuticals, Inc. 2006 Stock Option Plan (“Plan”) is
to encourage ownership of common stock, $.01 par value (“Common Stock”), of Bellicum Pharmaceuticals, Inc. (the “Company”) by eligible employees, directors, consultants, and other service providers of the Company
and its subsidiaries (hereinafter collectively referred to as the “Company”) and to provide increased incentive for such employees, directors, consultants, and other service providers to render services and to exert maximum effort
for the business success of the Company. Options granted under this Plan will be nonqualified options (“Nonqualified Options”) which are options which do not qualify as incentive stock options pursuant to Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”) or options which are intended to qualify as incentive stock options (“ISOs”). 

SECTION 2. Administration of the Plan. 

(a) Composition of Committee. The Plan shall be administered by the Board of Directors of the Company
(“Board”) or a committee designated by the Board which shall also designate the chairman of the committee. If the Company is subject to Section 16 of the Securities Exchange Act of 1934, as amended (“Exchange
Act”), the committee shall be composed of not less than two Non-Employee Directors (within the meaning of such Rule 16b-3 promulgated by the Securities and Exchange Commission (“Commission”) under the Exchange Act
(“Rule 16b-3”), each of whom shall be an “outside director” for purposes of Section 162(m)(4) of the Code, and shall be appointed by and serve at the pleasure of the Board. The Board or the committee designated by the
Board, both as administrators of the Plan, shall hereinafter be referred to as “Committee.” 
 (b)
Committee Action. The Committee shall hold its meetings at such times and places as it may determine. A majority of its members shall constitute a quorum, and all determinations of the Committee shall be made by not less than a majority of
its members. Any decision or determination reduced to writing and signed by a majority of the members shall be fully effective as if it had been made by a majority vote of its members at a meeting duly called and held. The Committee may designate
Company employees to assist the Committee in the administration of the Plan, and may grant authority to such persons to execute option agreements or other documents on behalf of the Committee and the Company. 

(c) Committee Expenses. All expenses and liabilities incurred by the Committee in the administration of the Plan shall
be borne by the Company. The Committee may employ attorneys, consultants, accountants or other persons. 
 SECTION 3. Stock Reserved for
the Plan. Subject to adjustment as provided in Section 6(j) hereof, the aggregate number of shares of Common Stock that may be optioned under the Plan is 301,500 shares. The shares subject to the Plan shall consist of authorized but
unissued shares of Common Stock or previously issued shares of Common Stock reacquired and held by 

  
 1. 

 
the Company and such number of shares shall be and is hereby reserved for sale for such purpose. Shares of Common Stock shall be deemed to have been issued under the Plan only to the extent
actually issued and delivered pursuant to an option. To the extent that an option lapses or the rights of its Optionee terminate or the option is cashed-out, the Common Stock subject to an option shall again be available for grant of another option.
Shares which may remain unsold and which are not subject to outstanding options at the termination of the Plan shall cease to be reserved for the purpose of the Plan, but until termination of the Plan or the termination of the last of the options
granted under the Plan, whichever last occurs, the Company shall at all times reserve a sufficient number of shares to meet the requirements of the Plan. 

SECTION 4. Eligibility. The persons eligible to participate in the Plan as a recipient of options (“Optionee”) shall
include employees, directors, consultants, and other service providers of the Company at the time the option is granted. An employee, director, consultant, or other service provider who has been granted an option hereunder may be granted an
additional option or options, if the Committee shall so determine. 
 SECTION 5. Grant of Options. 

(a) Committee Discretion. Except where the Committee has explicitly given the authority to some other individual, the
Committee shall have sole and absolute discretionary authority (i) to determine, authorize, and designate those employees, directors, consultants, and other service providers of the Company who are to receive options under the Plan,
(ii) to determine the number of shares of Common Stock to be covered by such options and the terms thereof, and (iii) to determine the type of option granted: ISO, Nonqualified Option or a combination of ISO and Nonqualified Options;
provided that an Optionee must be an employee of the Company to receive any ISOs. If the Company is subject to Section 16 of the Exchange Act, the Committee shall specifically pre-approve each grant to each Optionee subject to
Section 16(b) of the Exchange Act in accordance with Rule 16b-3 as amended, unless such grant is or will be otherwise exempt from Section 16(b) of the Exchange Act. The Committee shall thereupon grant options in accordance with such
determinations as evidenced by a written option agreement. Subject to the express provisions of the Plan, the Committee shall have discretionary authority to prescribe, amend and rescind rules and regulations relating to the Plan, to interpret the
Plan, to prescribe and amend the terms of the option agreements (which need not be identical) and to make all other determinations deemed necessary or advisable for the administration of the Plan. 

(b) Stockholder Approval. All options granted under this Plan are subject to, and may not be exercised before, the
approval of this Plan by the stockholders prior to the first anniversary date of the Board meeting held to approve the Plan, by the affirmative vote of the holders of a majority of the outstanding shares of the Company present, or represented by
proxy, and entitled to vote thereat or by written consent in accordance with the laws of the State of Texas, provided that if such approval by the stockholders of the Company is not forthcoming, all options previously granted under this Plan shall
be void. 

  
 2. 

 (c) Limitation on Incentive Stock Options. The aggregate number of shares
of Common Stock that may be optioned as ISOs under the Plan is 301,500. The aggregate fair market value (determined in accordance with Section 6(b) of this Plan at the time the option is granted) of the Common Stock with respect to which ISOs
may be exercisable for the first time by any Optionee during any calendar year under all such plans of the Company and its parent and subsidiary corporations shall not exceed $100,000. To the extent that the aggregate fair market value (determined
in accordance with Section 6(b) of this Plan at the time the option is granted) of Common Stock with respect to which ISOs are exercisable for the first time by an individual during any calendar year under all incentive stock option plans of
the Company and its parent and subsidiary corporations exceeds $100,000, such ISOs shall be treated as Nonqualified Options as determined by the Committee. The Committee shall determine, in accordance with applicable provisions of the Code, Treasury
Regulations and other administrative pronouncements, which of an Optionee’s ISOs will not constitute ISOs because of such limitation and shall notify the Optionee of such determination as soon as practicable after such determination. 

SECTION 6. Terms and Conditions. Each option granted under the Plan shall be evidenced by an agreement, in a form approved by the
Committee, which shall be subject to the following express terms and conditions and to such other terms and conditions as the Committee may deem appropriate and include in such agreement. 

(a) Option Period. The Committee shall promptly notify the Optionee of the option grant and a written agreement shall
promptly be executed and delivered by and on behalf of the Company and the Optionee, provided that the option grant shall expire if a written agreement is not signed by said Optionee (or his agent or attorney) and returned to the Company within 60
days from date of receipt by the Optionee of such agreement. The date of grant shall be the date the option is actually granted by the Committee, even though the written agreement may be executed and delivered by the Company and the Optionee after
that date. Each option agreement shall specify the period for which the option thereunder is granted (“Option Period”), which in no event shall exceed the tenth (10th) anniversary date of the date the option is granted. 

(b) Option Price. The purchase price of each share of Common Stock subject to each option granted pursuant to the Plan
shall be determined by the Committee at the time the option is granted and, in the case of both ISOs and Nonqualified Options, shall not be less than 100% of the fair market value of a share of Common Stock on the date the option is granted, as
determined by the Committee. In the case of an ISO granted to an individual who, at the time of grant, owns stock possessing more than 10 percent of the total combined voting power of all classes of stock of the Company or its affiliate
(“Ten Percent Stockholder”), the option price shall not be less than 110% of the fair market value of a share of Common Stock on the date the option is granted. 

For all purposes under this Plan, the fair market value of a share of Common Stock on a particular date shall be equal to the
closing sales price of the Common Stock on the exchange on which the Common Stock is traded on that date, or if no prices are reported on that date, on the last preceding date on which such prices of the

  
 3. 

 
Common Stock are so reported. In the event the Common Stock is not publicly traded at the time a determination of its value is required to be made hereunder, the determination of its fair market
value shall be made by the Committee in such manner as it deems appropriate, consistent with Treasury regulations and other formal Internal Revenue Service guidance under Code Section 409A so that options granted under this Plan shall not
constitute deferred compensation subject to Code Section 409A. 
 (c) Vesting. Subject to the discretion of the
Committee to provide otherwise, all options granted under the Plan shall be subject to mandatory vesting in accordance with the following schedule: 12/48 of the options shall vest on the one (l) year anniversary of the date of grant, and an
additional 1/48 of the options shall vest on each subsequent one (1) month anniversary thereafter until all options are fully vested, provided that Optionee remain an eligible employee, director, consultant, or other service provider of the
Company and/or its subsidiaries on all such dates. In the event of the termination of Optionee’s employment or service with the Company, any options previously granted shall cease to vest on the date of termination and the provisions of
Section 6 (g) or (h) shall apply. 
 (d) Exercise Period. The Committee may provide in the option
agreement that an option may be exercised in whole, immediately, or is to be exercisable in increments. However, no portion of any option may be exercised by an Optionee prior to the approval of the Plan by the stockholders of the Company. 

(e) Procedure for Exercise. Options shall be exercised by the delivery of (i) written notice to the President of
the Company setting forth the number of shares with respect to which the option is being exercised, (ii) cash or cashier’s check, bank draft, postal or express money order payable to the order of the Company, or at the option of the
Committee, in Common Stock theretofore owned by such Optionee (or any combination of cash and Common Stock) and (iii) executed signature pages of the Shareholders Agreement, if applicable (defined in Section 6(o)), as required in
Section 6(o). Notice and the executed signature pages of the Shareholders Agreement may be delivered by fax or telecopy provided that the purchase price of such shares is delivered to the Company via wire transfer on the same day the fax is
received by the Company. The notice shall specify the address to which the certificates for such shares are to be mailed. An Optionee shall be deemed to be a stockholder with respect to shares covered by an option on the date the Company receives
such written notice, such option payment and such executed signature pages of the Shareholders Agreement. 
 As promptly as practicable after
receipt of such written notification, payment, and executed signature pages, the Company shall deliver to the Optionee certificates for the number of shares with respect to which such option has been so exercised, issued in the Optionee’s name
or such other name as Optionee directs; provided, however, that such delivery shall be deemed effected for all purposes when a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to the
Optionee at the address specified pursuant to this Section 6(d). 

  
 4. 

 (f) Cashless Exercise. In addition to and without limiting the rights of
the Optionee under the terms hereof, the Optionee may elect to receive shares of Common Stock equal to the value of an option (or by surrender of the option at the principal office of the Company together with notice of such election in which event
the Company shall issue to Optionee the number of the shares of Common Stock computed using the following formula: 
  

			
	X=Y(A-B)
	 A

 Where 
  

			
	X -	  	The number of shares of Common Stock to be issued to the Optionee on exercise of the options.
		
	Y -	  	The number of options to be exercised (all of which must have the same exercise price).
		
	A -	  	The fair market value of one share of Common Stock.
		
	B -	  	Exercise price of the option on the date of exercise.

 No payment of any cash or other consideration to the Company shall be required from the Optionee in connection
with any exercise of an option by surrender or exchange pursuant to this Section 6. Such exchange shall be effective upon the date of receipt by the Company of this option surrendered for cancellation and a written request from the Optionee
that the exchange pursuant to this Section 6(e) be made, or at such later date as may be specified in such request. No fractional shares arising out of the above formula for determining the number of shares issuable on exercise shall be issued
and the Company shall in lieu thereof make payment to the Optionee of cash in the amount of such fraction multiplied by the fair market value of one share of Common Stock. 

For the purposes of this Section 6, “fair market value” of a share of Common Stock shall be determined in good faith by the
Board in accordance with Code Section 409A. 
 (g) Termination of Employment or Service. Except to the extent the
Committee approves an agreement containing different terms and conditions, the following terms and conditions shall apply: 

(1) For Cause. If an Optionee’s service with the Company is terminated during the Option Period “For
Cause” (as defined below), all options granted to him hereunder, whether exercisable or not, shall thereupon expire. As used in this Plan, the term “For Cause” means the commission of an act involving the reckless disregard of
one’s duties to the Company or any of its subsidiaries, willful misconduct, fraud or the indictment for or conviction of any felony under any applicable United States federal, state or other statute. 

  
 5. 

 (2) Voluntary Termination. If an Optionee voluntarily terminates his
service (“Voluntary Termination”) so that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, all options granted to him hereunder, whether exercisable or not, shall
thereupon expire upon the 30th day following such Voluntary Termination. 

(3) Involuntary Termination. If an Optionee ceases to be employed by the Company or the Company terminates an
Optionee’s services for any reason other than For Cause, Voluntary Termination, death, or disability (“Involuntary Termination”), then all options granted to such Optionee hereunder, whether exercisable or not, shall expire
within three (3) months after the date of such Involuntary Termination. 
 (h) Death or Disability. 

(1) In the event an Optionee’s service with the Company terminates on account of the Optionee’s death or disability
so that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, then all options hereunder, whether exercisable or not, shall expire on such date which is one year after the date of the
Optionee’s termination of service on account of the Optionee’s death or disability. 
 (2) An Optionee shall be
deemed to be disabled if, in the opinion of a physician selected by the Committee, he is incapable of performing services for the Company of the kind he was performing at the time the disability occurred by reason of any medically determinable
physical or mental impairment which can be expected to result in death or to be of long, continued and indefinite duration. The date of determination of disability for purposes hereof shall be the date of such determination by such physician. 

(i) Assignability. An option shall not be assignable or otherwise transferable except by will or by the laws of descent.
During the lifetime of an Optionee, an option shall be exercisable only by him. 
 (j) Incentive Stock Options. Each
option agreement may contain such terms and provisions as the Committee may determine to be necessary or desirable in order to qualify an option designated as an incentive stock option. 

(k) No Rights as Stockholder. No Optionee shall have any rights as a stockholder with respect to shares covered by an
option until the option is exercised by the written notice and accompanied by payment as provided in clause (d) above. 

(l) Extraordinary Corporate Transactions. 

(1) The existence of outstanding options shall not affect in any way the right or power of the Company or its stockholders to
make or authorize any or all adjustments, recapitalizations, reorganizations, exchanges, or other similar changes in the Company’s capital structure or its business, or any merger or 

  
 6. 

 
consolidation of the Company, or any issuance of Common Stock or other securities or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead
of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character
or otherwise. 
 (2) If the Company recapitalizes or otherwise changes its capital structure, or merges, consolidates, sells
all of its assets or dissolves and such transaction is not a Change of Control as defined in Section 6(m) below (each of the foregoing a “Fundamental Change”), then thereafter upon any exercise of an option theretofore granted,
the Optionee shall be entitled to purchase under such option, in lieu of the number of shares of Common Stock covered by such option, the number and class of shares of stock and securities to which the Optionee would have been entitled pursuant to
the terms of the Fundamental Change if, immediately prior to such Fundamental Change, the Optionee had been the holder of record of the number of shares of Common Stock covered by the option. 

(3) The issuance by the Company of any other class of securities which is not Common Stock or convertible into Common Stock
shall not affect the number of shares of Common Stock subject to options theretofore granted or the purchase price per share, unless the Committee shall determine in its sole discretion than an adjustment is necessary to provide equitable treatment
to Optionee. 
 (m) Change of Control. Each of the following events shall hereinafter be defined as a “Change
of Control”: 
 (1) the Company shall not be the surviving entity in any merger, consolidation or other
reorganization (or survives only as a subsidiary of an entity other than a previously wholly-owned subsidiary of the Company); or 

(2) the Company sells, leases, or exchanges all or substantially all of its assets to any other person or entity (other than a
wholly-owned subsidiary of the Company); or 
 (3) the Company is to be dissolved or liquidated; or 

(4) any person or entity, including a “group” as contemplated by Section 13(d)(3) of the 1934 Act, acquires or
gains ownership or control (including, without limitation, power to vote) of more than 50% of the outstanding shares of the Company’s voting stock (based upon voting power); or 

(5) as a result of or in connection with a contested election of directors, the persons who were directors of the Company
before such election shall cease to constitute a majority of the Board 

  
 7. 

 (n) Occurrence of a Change of Control. Upon the occurrence of an event of
Change of Control, all of the options shall immediately vest and become fully exercisable. Notwithstanding the foregoing, the rights of the Optionee to further payments pursuant to any other agreement with the Company following a Change of Control
shall not be terminated. 
 (o) Changes in Company’s Capital Structure. If the outstanding shares of Common Stock
or other securities of the Company, or both, for which the option is then exercisable shall at any time be changed or exchanged by declaration of a stock dividend, stock split, or combination of shares, the number and kind of shares of Common Stock
or other securities which are subject to the Plan or subject to any options theretofore granted, and the option prices, shall be appropriately and equitably adjusted so as to maintain the proportionate number of shares or other securities without
changing the aggregate option price. 
 (p) Acceleration of Options. Notwithstanding anything to the contrary
contained in this Plan, the Committee may in its sole discretion accelerate the vesting schedule of any option or the time at or periods in which any option may be exercised. With respect to the foregoing sentence, any Committee actions may vary
among individual Optionees and may vary among options held by any individual Optionee. 
 (q) Stockholders Agreements.
The Committee shall provide in the option agreement with respect to any shares of Common Stock purchased pursuant to an option granted under the Plan, that as a condition to and a requirement of receiving any shares of Common Stock upon the exercise
of an option granted under this Plan, the Optionee (or the Optionee’s representative upon the Optionee’s death) shall execute a counterpart of any agreement among stockholders or any other similar agreement placing contractual obligations
on shareholders of the Company, including but not limited to those which restrict the ability of such shareholders of the Company to transfer their shares of Common Stock (“Shareholders Agreements”). 

SECTION 7. Amendments or Termination. The Board may amend, alter or discontinue the Plan, but no amendment or alteration shall be made
which would impair the rights of any Optionee, without his consent, under any option theretofore granted, or which, without the approval of the stockholders, would: (i) except as is provided in Sections 6(j), (k), (l) and (m) of the
Plan, increase the total number of shares reserved for the purposes of the Plan, (ii) change the class of persons eligible to participate in the Plan as provided in Section 4 of the Plan, (iii) extend the applicable maximum option
period provided for in Section 6(a) of the Plan, (iv) extend the expiration date of this Plan set forth in Section 13 of the Plan, (v) except as provided in Sections 6(j), (k), (l) and (m) of the Plan, decrease to any
extent the option price of any option granted under the Plan or (vi) withdraw the administration of the Plan from the Committee. 

SECTION 8. Compliance With Other Laws and Regulations. The Plan, the grant and exercise of options thereunder, and the obligation of
the Company to sell and deliver shares under such options, shall be subject to all applicable federal and state laws, rules and regulations and to such approvals by any governmental or regulatory agency as may be required. The

  
 8. 

 
Company shall not be required to issue or deliver any certificates for shares of Common Stock prior to the completion of any registration or qualification of such shares under any federal or
state law or issuance of any ruling or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Any adjustments provided for herein in Sections 6(j), (k), (l) and (m) shall
be subject to any shareholder action required by Texas corporate law. 
 SECTION 9. Purchase for Investment. Unless the options and
shares of Common Stock covered by this Plan have been registered under the Securities Act of 1933, as amended, or the Company has determined that such registration is unnecessary, each person exercising an option under this Plan may be required by
the Company to give a representation in writing that he is acquiring such shares for his own account for investment and not with a view to, or for sale in connection with, the distribution of any part thereof. 

SECTION 10. Taxes. 

(a) The Company may make such provisions as it may deem appropriate for the withholding of any taxes which it determines is
required in connection with any options granted under this Plan. 
 (b) Notwithstanding the terms of Paragraph 10(a), any
portion of the taxes required to be withheld by the Company or paid by the Optionee in connection with the exercise of a Nonqualified Option may be made by the Company by withholding shares of Common Stock, or by the Optionee delivering previously
owned shares of Common Stock, having a fair market value, determined in accordance with Section 6(b), equal to the amount required to be withheld or paid, provided that such tax withholding or stock delivery right is otherwise in accordance
with Rule 16b-3. An Optionee must make the foregoing election on or before the date that the amount of tax to be withheld is determined (“Tax Date”). All such elections are irrevocable and subject to disapproval by the Committee.

 SECTION 11. No Right to Employment, Directorship, or Consultant or Service Provider Relationship. An Optionee shall be considered
to be in the employment of the Company, in service on the Board, a consultant to the Company or a service provider to the Company so long as he or she remains an employee, director, consultant, or service provider of the Company. Any questions as to
whether and when there has been a termination of such employment or service on the Board or consultant or service provider relationship and the cause of such termination shall be determined by the Committee, and its determination shall be final.
Nothing contained herein shall be construed as conferring upon Optionee the right to continue in the employ of the Company or to continue service on the Board or to continue in a consultant or service provider relationship, nor shall anything
contained herein be construed or interpreted to limit the “employment at will” relationship between Optionee (if the Optionee is an employee) and the Company. 

  
 9. 

 SECTION 12. Liability of Company. The Company which is in existence or hereafter comes
into existence shall not be liable to an Optionee or other persons as to: 
 (a) The Non-Issuance of Shares. The
non-issuance or sale of shares as to which the Company has been unable to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares hereunder;
and 
 (b) Tax Consequences. Any tax consequence expected, but not realized, by any Optionee or other person due to
the exercise of any option granted hereunder. 
 SECTION 13. Effectiveness and Expiration of Plan. The Plan shall be effective on the
date of its approval and adoption by the Board (“Effective Date”). If the stockholders of the Company fail to approve the Plan within twelve months of the date the Board approved the Plan, the Plan shall terminate and all options
previously granted under the Plan shall become void and of no effect. The Plan shall expire on the tenth (10th) anniversary date of the Effective Date. 

SECTION 14. Non-Exclusivity of the Plan. Neither the adoption by the Board nor the submission of the Plan to the stockholders of the
Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including without limitation. the granting of stock options otherwise than under the
Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 
 SECTION 15. Governing Law.
This Plan and any agreements hereunder shall be interpreted and construed in accordance with the laws of the State of Texas and applicable federal law. 

  
 10. 

 IN WITNESS WHEREOF, and as conclusive evidence of the adoption of the foregoing by directors of
the Company, Bellicum Pharmaceuticals, Inc. has caused these presents to be duly executed in its name and behalf by its proper officers thereunto duly authorized as of this 28th day of February, 2006. 

 

			
	BELLICUM PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Kevin Slawin, M.D.

		
	Name:	 	Kevin Slawin, M.D.
		
	Title:	 	President

  
 11. 

 FORM 

BELLICUM PHARMACEUTICALS, INC. 

NONQUALIFIED STOCK OPTION AGREEMENT 

(2006 Stock Option Plan) 

This Nonqualified Stock Option Agreement (“Option Agreement”) is between Bellicum Pharmaceuticals, Inc., a Delaware corporation (the
“Company”), and [employee] (the “Optionee”). 
 W I T N E S S
E T H: 
 The Company has heretofore adopted the Bellicum Pharmaceuticals, Inc. 2006 Stock Option Plan (the
“Plan”) for the purpose of providing eligible employees, directors, consultants, and other service providers of the Company and its subsidiaries (collectively hereinafter referred to as the “Company”) with increased incentive to
render services and to exert maximum effort for the business success of the Company, and to encourage them to remain in the employ or service of the Company. The Company, acting through the Committee (as defined in the Plan), has determined that its
interests will be advanced by the issuance to the Optionee of a nonqualified stock option under the Plan. 
 1. Option. Subject to
the terms and conditions contained herein, the Company, effective as of [date] (the “Grant Date”), hereby irrevocably grants to the Optionee the right and option (“Option”) to purchase from the Company [number of
shares] shares of the Company’s common stock, $0.01 par value (“Common Stock”), at a price of $[price] per share, which is not less than 100% of the fair market value of the Common Stock at the Grant Date. 

2. Option Period. The Option herein granted may be exercised by the Optionee in whole or in part at any time during a ten year period
(the “Option Period”) beginning on the Grant Date, subject to the limitation that said Option shall not be exercisable for more than a portion of the aggregate number of shares offered by this Option determined by the Optionee’s
number of full years of employment or service with the Company from the Grant Date to the date of such exercise, in accordance with the following schedule: 12/48 of the options shall vest on the one (1) year anniversary of the Grant Date, and
an additional 1/48 of the options shall vest on each subsequent one (1) month anniversary thereafter until all options are fully vested, provided that Optionee remains an eligible employee, director, consultant, or other service provider of the
Company on all such dates. In the event of the termination of Optionee’s employment or service with the Company, the shares offered by this Option shall cease to vest on the date of such termination. 

Notwithstanding anything in this Option Agreement to the contrary, the Committee, in its sole discretion, may waive the foregoing schedule of
vesting and upon written notice to the Optionee, accelerate the earliest date or dates on which the Option granted hereunder is exercisable. 

3. Procedure for Exercise. The Option herein granted shall be exercised by the delivery of (i) written notice by the Optionee to
the President of the Company setting forth the number of shares of Common Stock with respect to which the Option is to be exercised, (ii)

  
 -12- 

 
payment for the shares to be purchased, and (iii) executed signature pages of the Shareholders Agreement, if applicable (as defined in Section 6(q) of the Plan). Payment shall be by
means of cash, or a cashier’s check, bank draft, postal or express money order payable to the order of the Company, or at the option of the Committee, in Common Stock theretofore owned by the Optionee (or any combination of cash and such Common
Stock). Notice and the executed signature pages of the Shareholders Agreement may be delivered by fax or telecopy provided that the exercise price of such shares is received by the Company via wire transfer on the same day the fax or telecopy
transmission is received by the Company. The notice also shall specify the address to which the certificates for such shares are to be mailed. The Optionee shall be deemed to be a stockholder with respect to the number of shares for which the Option
is being exercised on the date the Company receives such written notice, such option exercise price, and such executed signature pages of the Shareholders Agreement. 

4. Termination of Employment or Service. If the Optionee’s service with the Company is terminated during the Option Period
“For Cause” (as defined in the Plan), the Option, whether exercisable or not, shall thereupon expire. 
 If the Optionee
voluntarily terminates the Optionee’s service (“Voluntary Termination”) so that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, the Option, whether exercisable or not,
shall expire upon the 30th day following such Voluntary Termination. 
 If the Optionee
ceases to be employed by the Company or the Company terminates the Optionee’s services for any reason other than For Cause, Voluntary Termination, death, or disability (“Involuntary Termination”), then the Option, whether exercisable
or not, shall expire three (3) months after the date of such Involuntary Termination. 
 5. Death or Disability. In the event
the Optionee’s service with the Company terminates on account of the Optionee’s death or disability so that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, then the Option,
whether exercisable or not, shall expire on such date which is one year after the date of the Optionee’s termination of service on account of the Optionee’s death or disability. The Optionee shall be deemed to be disabled if, in the
opinion of a physician selected by the Committee, the Optionee is incapable of performing services for the Company of the kind the Optionee was performing at the time the disability occurred by reason of any medically determinable physical or mental
impairment which can be expected to result in death or to be of long, continued and indefinite duration. The date of determination of disability for purposes hereof shall be the date of such determination by such physician. 

6. Transferability. The Option shall not be transferable by the Optionee otherwise than in accordance with the Plan. No such transfer
of the Option to heirs or legatees of the Optionee shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the
validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof. 

  
 13. 

 7. No Rights as Stockholder. The Optionee shall have no rights as a stockholder with
respect to any shares of Common Stock covered by this Option Agreement until the Option is exercised by written notice and accompanied by payment as provided in Section 3 of this Option Agreement. 

8. Extraordinary Corporate Transactions. The existence of this Option shall not affect in any way the right or power of the Company or
its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations, exchanges, or other similar changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any
issuance of Common Stock or other securities or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of
the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedings, whether of a similar character or otherwise. If the Company goes through a “Fundamental Change” (as defined in
the Plan), the Option granted hereunder shall be governed by Section 6 of the Plan. 
 9. Changes in Capital Structure. If the
outstanding shares of Common Stock or other securities of the Company, or both, for which the Option is then exercisable shall at any time be changed or exchanged by declaration of a stock dividend, stock split, or combination of shares, the number
and kind of shares of Common Stock or other securities subject to the Plan or subject to the Option, and the exercise price, shall be appropriately and equitably adjusted so as to maintain the proportionate number of shares or other securities
without changing the aggregate exercise price. 
 10. Cashing Out Option. On receipt of written notice of exercise pursuant to
Section 3, the Committee may elect to cash out all or part of the portion of the shares of Common Stock for which all or a portion of the Option is being exercised by paying the Optionee an amount, in cash or Common Stock, equal to (i) the
excess of the fair market value of the Common Stock over the exercise price, times (ii) the number of shares of Common Stock for which the Option is being exercised on the effective date of such exercise. 

11. Compliance with Securities Laws. Upon the acquisition of any shares pursuant to the exercise of the Option herein granted, the
Optionee (or any person acting under Section 6) will enter into such written representations, warranties, and agreements as the Company may reasonably request in order to comply with applicable securities laws or with this Option Agreement.

 12. Compliance with Laws. Notwithstanding any of the other provisions hereof, the Optionee agrees that the Optionee will not
exercise the Option granted hereby, and that the Company will not be obligated to issue any shares pursuant to this Option Agreement, if the exercise of the Option or the issuance of such shares of Common Stock would constitute a violation by the
Optionee or by the Company of any provision of any law or regulation of any governmental authority. 

  
 14. 

 13. Purchase for Investment. The Optionee is acquiring shares under this Option for his or
her own account for investment and not with a view to, or for sale in connection with, the distribution of any part thereof. 
 14.
Withholding of Tax. To the extent that the exercise of this Option or the disposition of shares of Common Stock acquired by exercise of this Option results in compensation income to the Optionee for federal or state income tax purposes, the
Optionee shall pay to the Company at the time of such exercise or disposition such amount of money as the Company may require to meet its obligation under applicable tax laws or regulations and, if the Optionee fails to do so, the Company is
authorized to withhold from any cash remuneration then or thereafter payable to the Optionee, any tax required to be withheld by reason of such resulting compensation income or the Company may otherwise refuse to issue or transfer any shares
otherwise required to be issued or transferred pursuant to the terms hereof. Payment of the withholding tax by the Optionee shall be made in accordance with Section 10 of the Plan. 

15. No Right to Employment or Directorship. The Optionee shall be considered to be in the employment of the Company, in service as a
director, a consultant to the Company or a service provider to the Company so long as he or she remains an employee, director, consultant, or service provider of the Company. Any questions as to whether and when there has been a termination of such
employment or service as a director or consultant or service provider relationship and the cause of such termination shall be determined by the Committee, and its determination shall be final. Nothing contained herein shall be construed as
conferring upon the Optionee the right to continue in the employ of the Company or to continue service as a director or to continue in a consultant or service provider relationship, nor shall anything contained herein be construed or interpreted to
limit the “employment at will” relationship between the Optionee (if the Optionee is an employee) and the Company. 
 16.
Resolution of Disputes. As a condition of the granting of the Option hereby, the Optionee and the Optionee’s heirs, personal representatives, and successors agree that any dispute or disagreement which may arise hereunder shall be
determined by the Committee in its sole discretion and judgment, and that any such determination and any interpretation by the Committee of the terms of this Option Agreement shall be final and shall be binding and conclusive, for all purposes, upon
the Company, the Optionee, and the Optionee’s heirs, personal representatives, and successors. 
 17. Legends on Certificate.
The certificates representing the shares of Common Stock purchased by exercise of the Option will be stamped or otherwise imprinted with legends in such form as the Company or its counsel may require with respect to any applicable restrictions on
sale or transfer and the stock transfer records of the Company will reflect stop-transfer instructions with respect to such shares. 

18. Notices. Every notice hereunder shall be in writing and shall be given by registered or certified mail. All notices of the exercise
of any Option hereunder shall be directed to Twelve Greenway Plaza, Suite 1380, Houston, Texas 77046, Attention: President. Any notice given by the Company to the Optionee directed to the Optionee at the address on file with the Company shall be
effective to bind the Optionee and any other person who shall acquire rights hereunder. The Company shall be under no obligation whatsoever to advise the Optionee 

  
 15. 

 
of the existence, maturity or termination of any of the Optionee’s rights hereunder and the Optionee shall be deemed to have familiarized himself or herself with all matters contained herein
and in the Plan which may affect any of the Optionee’s rights or privileges hereunder. 
 19. Construction and Interpretation.
Whenever the term “Optionee” is used herein under circumstances applicable to any other person or persons to whom this award, in accordance with the provisions of Section 6 hereof, may be transferred, the word “Optionee”
shall be deemed to include such person or persons. References to the masculine gender herein also include the feminine gender for all purposes. 

20. Agreement Subject to Plan. This Option Agreement is subject to the Plan. The terms and provisions of the Plan (including any
subsequent amendments thereto) are hereby incorporated herein by reference thereto. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will
govern and prevail. All definitions of words and terms contained in the Plan shall be applicable to this Option Agreement. 
 21. Binding
Effect. This Option Agreement shall be binding upon and inure to the benefit of any successors to the Company and all persons lawfully claiming under the Optionee as provided herein. 

IN WITNESS WHEREOF, this Nonqualified Stock Option Agreement has been executed as of the      day of
            ,         . 
  

			
	BELLICUM PHARMACEUTICALS, INC.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

	
	OPTIONEE
	
	  

  
 16.EX-10.3

 Exhibit 10.3 

BELLICUM PHARMACEUTICALS, INC. 

2011 STOCK OPTION PLAN 

SECTION 1. Purpose. The purpose of this Bellicum Pharmaceuticals, Inc. 2011 Stock Option Plan (“Plan”) is to encourage
ownership of common stock, $0.01 par value (“Common Stock”), of Bellicum Pharmaceuticals, Inc., a Delaware corporation (the “Company”), by eligible employees, directors and consultants of the Company and its Affiliates (as
defined below) and to provide increased incentive for such employees and directors to render services and to exert maximum effort for the business success of the Company. In addition, the Company expects that this Plan will further strengthen the
identification of employees, directors and consultants with the shareholders. Certain options to be granted under this Plan are intended to qualify as incentive stock options (“ISOs”) pursuant to Section 422 of the Internal Revenue
Code of 1986, as amended (the “Code”), while other options granted under this Plan will be nonqualified options which are not intended to qualify as ISOs (“Nonqualified Options”), either or both as provided in the agreements
evidencing the options as provided in Section 6 hereof. As used in this Plan, the term “Affiliates” means any “parent corporation” of the Company and any “subsidiary corporation” of the Company within the meaning
of Code Sections 424(e) and (f), respectively. 
 SECTION 2. Administration. 

(a) Board or Committee. The Plan shall be administered by the Board of Directors (the “Board”) or a
Compensation Committee designated by the Board which shall also designate the Chairman of the Compensation Committee. If the Company is subject to Section 16 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), the
Compensation Committee shall be composed entirely of not less than two (2) non-employee directors (within the meaning of Rule 16b 3 promulgated by the Securities and Exchange Commission under the Exchange Act (“Rule 16b-3”)), each of
whom shall be an “outside director” for purposes of Code Section 162(m)(4), and shall be appointed by and serve at the pleasure of the Board. The Board or the Compensation Committee as administrator of the Plan shall hereinafter be
referred to as “Committee.” 
 (b) Committee Action. The Committee shall hold its meetings at such times and
places as it may determine. A majority of its members shall constitute a quorum, and all determinations of the Committee shall be made by not less than a majority of its members. Any decision or determination reduced to writing and signed by a
majority of the members shall be fully effective as if it had been made by a majority vote of its members at a meeting duly called and held. The Committee may designate the Secretary of the Company or other Company employees to assist the Committee
in the administration of this Plan, and may grant authority to such persons to execute award agreements or other documents on behalf of the Committee and the Company. Any duly constituted committee of the Board satisfying the qualifications of this
Section 2 may be appointed as the Committee. 
 (c) Committee Expenses. All expenses and liabilities incurred by
the Committee in the administration of this Plan shall be borne by the Company. The Committee may employ attorneys, consultants, accountants or other persons. 

 SECTION 3. Stock Reserved. Subject to adjustment as provided in Section 6
hereof, the maximum aggregate number of shares of Common Stock that may be issued under the Plan is 4,798,500, any or all of which may be issued through ISOs. The shares subject to this Plan shall consist of authorized but unissued shares of Common
Stock or previously issued shares of Common Stock reacquired and held by the Company and such number of shares shall be and is hereby reserved for sale for such purpose. Shares of Common Stock shall be deemed to have been issued under the Plan only
to the extent actually issued and delivered pursuant to the exercise of an option. To the extent that an option lapses or is canceled or the rights of its Optionee terminate or the option is cashed-out, any Common Stock subject to such option shall
again be available for grant under an option. Any shares of Common Stock which may remain unsold and which are not subject to outstanding options at the termination of this Plan shall cease to be reserved for the purpose of this Plan, but until
termination of this Plan or the termination of the last of the options granted under this Plan, whichever last occurs, the Company shall at all times reserve a sufficient number of shares to meet the requirements of this Plan. Any shares of Common
Stock withheld in payment of the exercise price of an option or to satisfy federal, state or local tax liability shall not count against the share limit set forth above. 

SECTION 4. Eligibility. A recipient of an option under the Plan shall be referred to as an “Optionee.” Nonqualified
Options may be granted to all employees, directors and consultants of the Company or its Affiliates, including Affiliates that become such after adoption of the Plan. ISOs may be granted to all employees of the Company, a “parent
corporation” of the Company (within the meaning of Code Section 424(e)) or a “subsidiary corporation” of the Company (within the meaning of Code Section 424(f)), including an entity that becomes a parent corporation or a
subsidiary corporation after adoption of the Plan. An Optionee must be an employee, director or consultant at the time the option is granted. An employee, director or consultant who has been granted an option hereunder may be granted an additional
option or options, if the Committee shall so determine. 
 SECTION 5. Grant of Options. 

(a) Committee Discretion. Except where the Committee has explicitly given the authority to some other individual, the
Committee shall have sole and absolute discretionary authority (i) to select the employees, directors and consultants of the Company or its Affiliates who are to receive options under this Plan, (ii) to determine the number of shares of
Common Stock to be covered by such options and the terms thereof, and (iii) to determine the type of option granted: ISOs, Nonqualified Options or a combination of ISOs and Nonqualified Options. If the Company is subject to Section 16 of
the Exchange Act, the Committee shall specifically pre-approve each grant to each Optionee subject to Section 16(b) of the Exchange Act in accordance with Rule 16b-3 as amended, unless such grant is or will be otherwise exempt from
Section 16(b) of the Exchange Act. The Committee shall thereupon grant options in accordance with such determinations as evidenced by a written option agreement. Subject to the express provisions of this Plan, the Committee shall have
discretionary authority to prescribe, amend and rescind rules and regulations relating to this Plan, to interpret this Plan, to prescribe and amend the terms of the option agreements (which need not be identical) and to make all other determinations
deemed necessary or advisable for the administration of this Plan. 

  
 -2- 

 (b) Shareholder Approval. All ISOs granted under this Plan are subject to,
and may not be exercised before, the approval of this Plan by the shareholders prior to the first anniversary date of the Board meeting held to approve the Plan, by the affirmative vote of the holders of a majority of the shares of the Company
present, or represented by proxy, and entitled to vote at a meeting at which a quorum is present, or by written consent in accordance with the laws of the United States and the State of Delaware, as may be applicable; provided that if such approval
by the shareholders of the Company is not forthcoming, all ISOs previously granted under this Plan shall be void. Nonqualified Options that are granted by the Committee are not subject to the approval of this Plan by the shareholders of the Company
and may be exercised in accordance with the terms of the stock option agreement pursuant to which they are granted. 
 (c)
Limitation on Incentive Stock Options. Except as otherwise provided under the Code or applicable regulations, to the extent that the aggregate fair market value (determined in accordance with Section 6(b) of this Plan at the time the
option is granted) of the Common Stock with respect to which ISOs (determined without regard to this paragraph) are exercisable for the first time by any Optionee during any calendar year under all plans of the Company and its “parent
corporation” or “subsidiary corporations” exceeds $100,000, such options shall be treated as Nonqualified Options. 

SECTION 6. Terms and Conditions. Each option granted under this Plan shall be evidenced by an agreement, in a form approved by the
Committee, which shall be subject to the following express terms and conditions and to such other terms and conditions as the Committee may deem appropriate. 

(a) Option Period. The Committee shall promptly notify the Optionee of the option grant and a written agreement shall
promptly be executed and delivered by and on behalf of the Company and the Optionee, provided that the option grant shall expire if a written agreement is not signed by said Optionee (or his agent or attorney) and returned to the Company within 60
days from date of receipt by the Optionee of such agreement. The Committee may, in its discretion, waive or extend the 60-day requirement for a signed agreement. The date of grant shall be the date the option is actually granted by the Committee,
even though the written agreement may be executed and delivered by the Company and the Optionee after that date. Each option agreement shall specify the period for which the option thereunder is granted (which in no event shall exceed ten years from
the date of grant) and shall provide that the option shall expire at the end of such period. However, in the case of an ISO granted to an individual who, at the time of grant, owns stock possessing more than 10 percent of the total combined voting
power of all classes of stock of the Company or its parent corporation or subsidiary corporation (“Ten Percent Stockholder”), such period shall not exceed five years from the date of grant. 

(b) Exercise Price. The purchase price of each share of Common Stock subject to each option granted pursuant to this
Plan (“exercise price”) shall be determined by the Committee at the time the option is granted and shall never be less than 100% of the fair market value of a share of Common Stock on the date the option is granted. In the case of an ISO
granted to a Ten Percent Stockholder, the exercise price shall not be less than 110% of the fair market value of a share of Common Stock on the date the option is granted. 

  
 -3- 

 For all purposes under this Plan, the fair market value of a share of Common Stock on a
particular date shall be equal to the closing sales price of the Common Stock on the exchange on which the Common Stock is traded on that date, or if no prices are reported on that date, on the last preceding date on which such prices of the Common
Stock are so reported. In the event the Common Stock is not publicly traded at the time a determination of its value is required to be made hereunder, the determination of its fair market value shall be made by the Committee in such manner as it
deems appropriate, consistent with Treasury regulations and other formal Internal Revenue Service guidance under Code Section 409A so that options granted under this Plan shall not constitute deferred compensation subject to Code
Section 409A. 
 (c) Exercise Period. The Committee may provide in the option agreement that an option may be
exercised immediately or over the period of the grant and in whole or in increments. However, no portion of any ISO may be exercisable by an Optionee prior to the approval of this Plan by the shareholders of the Company. 

(d) Procedure for Exercise. Options shall be exercised by the delivery by the Optionee of written notice to the
Secretary of the Company setting forth the number of shares of Common Stock with respect to which the option is being exercised. The notice shall be accompanied by (i) cash, cashier’s check, bank draft, or postal or express money order
payable to the order of the Company, (ii) if allowed under the terms of the Option agreement, certificates representing shares of Common Stock theretofore owned by the Optionee duly endorsed for transfer to the Company, (iii) for a
Nonqualified Option, if allowed under the terms of the Option agreement, an election by the Optionee to have the Company withhold the number of shares of Common Stock the fair market value of which is equal to the aggregate exercise price of the
shares of Common Stock issuable upon exercise of the option, (iv) such other consideration as may be approved by the Committee from time to time to the extent permitted by applicable law, or (v) any combination of the preceding, equal in
value to the full amount of the exercise price. Notice may also be delivered by telecopy provided that the exercise price of such shares is received by the Company via wire transfer on the same day the telecopy transmission is received by the
Company. The notice shall specify the address to which the certificates for such shares are to be mailed. An option to purchase shares of Common Stock in accordance with this Plan shall be deemed to have been exercised immediately prior to the close
of business on the date (i) written notice of such exercise and (ii) payment in full of the exercise price for the number of shares for which options are being exercised, are both received by the Company and the Optionee shall be treated
for all purposes as the record holder of such shares of Common Stock as of such date. 
 As promptly as practicable after receipt of such
written notice and payment, the Company shall deliver to the Optionee certificates for the number of shares with respect to which such option has been so exercised, issued in the Optionee’s name or such other name as Optionee directs; provided,
however, that such delivery shall be deemed effected for all purposes when a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to the Optionee at the address specified pursuant to this
Section 6(d). 

  
 -4- 

 (e) Termination of Employment or Service. If, for any reason other than
death or disability, an Optionee ceases to be employed by the Company or its Affiliates or ceases to serve on the Board or as a consultant, an option previously granted to the Optionee under the Plan may be exercised (to the extent the Optionee
would have been entitled to do so at the date of termination of employment or cessation of serving on the Board or as a consultant) at any time and from time to time during the period prescribed in the option agreement; provided, however, that in
the event no period is specified in the option agreement the exercise period shall be three months from the date of termination of employment or date of cessation of serving on the Board or as a consultant; and provided, further, that for an ISO the
exercise period shall not exceed three months. In no event may any option be exercised after its expiration under the terms hereof or of the option agreement. Notwithstanding anything to the contrary contained herein or in any option agreement, if
an Optionee’s employment or service on the Board or as a consultant is terminated because of the Optionee’s theft or embezzlement from the Company, disclosure of trade secrets of the Company or the commission of a willful, felonious act
while in the employment of the Company or while in service on the Board or as a consultant, or for “cause” as such term is defined in any employment or consulting agreement to which such Optionee is a party, (such reasons shall hereinafter
be collectively referred to as “for cause”), then any option granted under the Plan to said Optionee shall expire upon such termination of employment or cessation of serving on the Board or as a consultant; provided, however, the
Committee, in its sole discretion, may allow an Optionee to exercise all or a portion of the options granted but unexercised for a period of time after the Optionee’s termination of employment or cessation of serving on the Board or as a
consultant. 
 In the event an Optionee dies while the Optionee is employed by the Company or its Affiliates or while the Optionee serves on
the Board or as a consultant, or the Optionee’s employment or service ceases because the Optionee is determined to be disabled, an option previously granted to the Optionee may be exercised (to the extent the Optionee would have been entitled
to do so at the date of death or the termination of employment or service) at any time and from time to time during the period prescribed in the option agreement; provided, however, that in the event no period is specified in the option agreement
the exercise period shall be one year from the date of death or termination of employment or cessation of serving on the Board or as a consultant. Notwithstanding the foregoing, for an ISO the exercise period shall not exceed three months after such
death or termination of employment or service (after which period the option will expire). In no event may any option be exercised after its expiration under the terms of the option agreement. In the case of disability, the option may be exercised
by the Optionee or his guardian or legal representative, and in the case of death by the executor or administrator of the Optionee’s estate or by the person or persons to whom the Optionee’s rights under the option shall pass by will or
the laws of descent and distribution. An Optionee shall be deemed to be disabled if, in the opinion of a physician selected by the Committee, the Optionee is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. 

(f) Transferability. An option granted pursuant to this Plan shall not be assignable or otherwise transferable by the
Optionee otherwise than by Optionee’s will or 

  
 -5- 

 
by the laws of descent and distribution. During the lifetime of an Optionee, an option shall be exercisable only by such Optionee or his authorized legal representative. Any heir or legatee of
the Optionee shall take rights granted herein and in the option agreement subject to the terms and conditions hereof and thereof. No such transfer of any option to heirs or legatees of the Optionee shall be effective to bind the Company unless the
Company shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions
hereof. 
 (g) Incentive Stock Options. Each option agreement may contain such terms and provisions as the Committee
may determine to be necessary or desirable in order to qualify under the Code an option designated as an ISO. 
 (h) No
Rights as Shareholder. No Optionee shall have any rights as a shareholder with respect to shares covered by an option until the option is exercised by written notice and accompanied by payment as provided in Section 6(d) above. 

(i) Extraordinary Corporate Transactions. The existence of outstanding options shall not affect in any way the right or
power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations, exchanges, or other changes in the Company’s capital structure or its business, or any merger or consolidation of the
Company, or any issuance of Common Stock or other securities or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution
or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. If the Company merges, consolidates, sells all of its assets
or dissolves (each of the foregoing a “Fundamental Change”), then thereafter upon any exercise of an option theretofore granted the Optionee shall be entitled to purchase under such option, in lieu of the number of shares of Common Stock
as to which such option shall then be exercisable, the number and class of shares of stock and securities to which the Optionee would have been entitled pursuant to the terms of the Fundamental Change if, immediately prior to such Fundamental
Change, the Optionee had been the holder of record of the number of shares of Common Stock as to which such option is then exercisable. The provisions contained in this paragraph shall not terminate any rights of the Optionee to further payments
pursuant to any other agreement with the Company following a Corporate Change. 
 (j) Changes in Capital Structure. If
the outstanding shares of Common Stock or other securities of the Company, or both, for which an option is then exercisable shall at any time be changed or exchanged by declaration of a stock dividend, stock split, combination of shares,
recapitalization or reorganization, the number and kind of shares of Common Stock or other securities which are subject to this Plan or subject to any options theretofore granted, and the exercise prices, shall be appropriately and equitably
adjusted so as to maintain the proportionate number of shares or other securities without changing the aggregate exercise price. 

  
 -6- 

 (k) No Adjustment. Except as hereinbefore expressly provided, (i) the
issuance by the Company of shares of stock or any class of securities convertible into shares of stock of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants to subscribe therefor, or upon
conversion of shares or obligations of the Company convertible into such shares or other securities, (ii) the payment of a dividend in property other than Common Stock, or (iii) the occurrence of any similar transaction, and in any case
whether or not for fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number of shares of Common Stock subject to options theretofore granted or the purchase price per share, unless the Committee
shall determine, in its sole discretion, that an adjustment is necessary to provide equitable treatment to Optionees. 
 (l)
Acceleration of Options. Notwithstanding anything to the contrary contained in this Plan, the Committee may, in its sole discretion, accelerate the time at which any option may be exercised, including, but not limited to, upon the occurrence
of the events specified in this Section 6. 
 SECTION 7. Amendments or Termination. The Board may amend, alter or
discontinue this Plan, but no amendment or alteration shall be made which would impair the rights of any Optionee, without his consent, under any option theretofore granted. No amendment shall be effective unless approved by the shareholders of the
Company to the extent shareholder approval is necessary to satisfy any applicable law, rule, regulation or securities exchange listing requirement (including, but not limited to, Rule 16b 3, any rule promulgated by the exchange on which Common Stock
is tradable, or Section 422 of the Code or any successor provisions). 
 SECTION 8. Compliance With Other Laws and
Regulations. This Plan, the grant and exercise of options thereunder, and the obligation of the Company to sell and deliver shares under such options, shall be subject to all applicable federal and state laws, rules and regulations and to such
approvals by any governmental or regulatory agency as may be required. The Company shall not be required to issue or deliver any certificates for shares of Common Stock prior to the completion of any registration or qualification of such shares
under any federal or state law or issuance of any ruling or regulation of any government body which the Company shall, in its sole discretion, determine to be necessary or advisable. Any adjustments provided for in Sections 6(i), (j) and
(k) of this Plan shall be subject to any shareholder action required by Delaware corporate law. 
 SECTION 9. Purchase for
Investment. Unless the options and shares of Common Stock covered by this Plan have been registered under the Securities Act of 1933, as amended, or the Company has determined that such registration is unnecessary, each person exercising an
option under this Plan may be required by the Company to give a representation in writing that such person is acquiring such shares for his or her own account for investment and not with a view to, or for sale in connection with, the distribution of
any part thereof. 

  
 -7- 

 SECTION 10. Taxes. 

(a) The Company may make such provisions as it may deem appropriate for the withholding of any taxes which it determines is
required in connection with any options granted under this Plan. 
 (b) Notwithstanding the terms of paragraph (a), any
Optionee may pay all or any portion of the taxes required to be withheld by the Company or paid by him in connection with the exercise of a Nonqualified Option by electing to have the Company withhold shares of Common Stock, or by delivering
previously owned shares of Common Stock, having a fair market value, determined in accordance with Section 6(b), equal to the amount required to be withheld or paid; provided that such tax withholding or stock delivery right was specifically
pre-approved by the Committee as a feature of the option or is otherwise approved in accordance with Rule 16b-3, if applicable. An Optionee must make the foregoing election on or before the date that the amount of tax to be withheld is determined.
All such elections are irrevocable and subject to disapproval by the Committee. 
 SECTION 11. Replacement of Options. The
Committee from time to time may permit an Optionee under this Plan to surrender for cancellation any unexercised outstanding option and receive from the Company in exchange an option for such number of shares of Common Stock as may be designated by
the Committee. The Committee may, with the consent of the person entitled to exercise any outstanding option, amend such option. 

SECTION 12. No Right to Employment or Service. Optionees shall be considered to be in the employment of the Company or its
Affiliates or in service on the Board or as a consultant so long as they remain employees or directors or consultants of the Company or its Affiliates. Any questions as to whether and when there has been a termination of such employment or service
on the Board or as a consultant and the cause of such termination shall be determined by the Committee, and its determination shall be final. Nothing contained herein or as a result of any option granted pursuant to this Plan shall be construed as
conferring upon the Optionee the right to continue in the employ of the Company or its Affiliates or to continue to serve on the Board or as a consultant, nor shall anything contained herein be construed or interpreted to limit the “employment
at will” relationship between the Optionee and the Company or its Affiliates. The option agreements may contain such provisions as the Committee may approve with reference to the effect of approved leaves of absence. 

SECTION 13. Liability of Company. The Company and any Affiliate which is in existence or hereafter comes into existence shall not
be liable to an Optionee or other persons as to: 
 (a) The non issuance or sale of shares as to which the Company has
been unable to obtain from any regulatory body having jurisdiction the authority deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any shares hereunder; and 

(b) Any tax consequence expected, but not realized, by any Optionee or other person due to the exercise of any option
granted hereunder. 
  

  
 -8- 

 SECTION 14. Effectiveness and Expiration of Plan. This Plan shall be effective on the
date of its approval and adoption by the Board. If the shareholders of the Company fail to approve this Plan within twelve months of the date of the Board adoption, this Plan shall terminate and all options previously granted under this Plan shall
become void and of no effect. This Plan shall expire ten years after the date the Board adopts this Plan and thereafter no option shall be granted pursuant to this Plan. 

SECTION 15. Non Exclusivity of this Plan. Neither the adoption by the Board nor the submission of the Plan to the stockholders of
the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements as it may deem desirable, including without limitation, the granting of restricted stock or stock options
otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 

SECTION 16. Governing Law. This Plan and any agreements hereunder shall be interpreted and construed in accordance with the laws
of the State of Delaware and applicable federal law. 

  
 -9- 

 ISO FORM 

BELLICUM PHARMACEUTICALS, INC. 

INCENTIVE STOCK OPTION AGREEMENT 

This Incentive Stock Option Agreement (“Option Agreement”) is between Bellicum Pharmaceuticals, Inc., a Delaware corporation
(the “Company”), and                      (“Optionee”), who agree as follows: 

(a) Introduction. The Company has heretofore adopted the Bellicum Pharmaceuticals, Inc. 2011 Stock Option Plan, as amended, (the
“Plan”) for the purpose of providing eligible employees, directors and consultants of the Company and its Affiliates (as defined in the Plan) with increased incentive to render services, to exert maximum effort for the business
success of the Company and to strengthen the identification of such individuals with the shareholders. The Company, acting through the Committee (as defined in the Plan), has determined that its interests will be advanced by the issuance to Optionee
of an incentive stock option under the Plan. 
 (b) Option. Subject to the terms and conditions contained herein, the Company hereby
irrevocably grants to Optionee the right and option (“Option”) to purchase from the Company                  shares of the Company’s common stock,
$0.01 par value (“Common Stock”), at a price of $         per share. The Option is intended to qualify as an incentive stock option pursuant to Section 422 of the Internal Revenue Code of
1986, as amended (the “Code”), to the maximum extent permitted under the Code. Any portion of your Option that does not qualify as an incentive stock option under the Code shall be treated as a Nonqualified Option. 

(c) Option Period. The Option herein granted may be exercised by Optionee in whole or in part at any time during a ten
year period (the “Option Period”) beginning on                      (the “Date of Grant”), to the extent vested in
accordance with the terms of this Option Agreement. Optionee’s Option shall vest in accordance with the following schedule: [Insert Vesting Schedule] [12/48 of the Optionee’s Option shall vest on the one (1) year anniversary of
the Date of Grant, and an additional 1/48 of the Optionee’s Option shall vest on each subsequent one (1) month anniversary thereafter] [1/48 of the Optionee’s Option shall vest on the one (1) month anniversary of the Date of
Grant, and an additional 1/48 of the Optionee’s Option shall vest on each subsequent one (1) month anniversary thereafter] [25% of the Optionee’s Option shall vest on the Date of Grant, with an additional 25% on each anniversary
thereafter] until the entire Option is fully vested, provided that Optionee remains an eligible employee of the Company on all such dates. In the event of the termination of Optionee’s employment with the Company, the shares offered by
this Option shall cease to vest on the date of such termination. 
 Notwithstanding anything in this Option Agreement to the contrary, the
Committee, in its sole discretion, may waive the foregoing schedule of vesting and upon written notice to Optionee, accelerate the earliest date or dates on which any of the Options granted hereunder are exercisable. 

(d) Procedure for Exercise. The Option herein granted may be exercised by the delivery by Optionee of written notice to the Secretary
of the Company setting forth the number of shares of Common Stock with respect to which the Option is being exercised. The notice 

  
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shall be accompanied by, at the election of Optionee, (1) cash, cashier’s check, bank draft, or postal or express money order payable to the order of the Company, (2) certificates
representing shares of Common Stock theretofore owned by Optionee duly endorsed for transfer to the Company, (3) an election by Optionee to have the Company withhold the number of shares of Common Stock the fair market value of which is equal
to the aggregate exercise price of the shares of Common Stock issuable upon exercise of the Option, or (4) any combination of the preceding, equal in value to the aggregate exercise price. Notice may also be delivered by telecopy provided that
the exercise price of such shares is received by the Company via wire transfer on the same day the telecopy transmission is received by the Company. The notice shall specify the address to which the certificates for such shares are to be mailed.
This Option shall be deemed to have been exercised immediately prior to the close of business on the date (1) written notice of such exercise and (2) payment in full of the exercise price for the number of share for which Options are being
exercised, are both received by the Company and Optionee shall be treated for all purposes as the record holder of such shares of Common Stock as of such date. 

As promptly as practicable after receipt of such written notice and payment, the Company shall deliver to Optionee certificates for the number of shares with
respect to which such Option has been so exercised, issued in Optionee’s name or such other name as Optionee directs; provided, however, that such delivery shall be deemed effected for all purposes when a stock transfer agent of the Company
shall have deposited such certificates in the United States mail, addressed to Optionee at the address specified pursuant to this Section 4. 

(e) Termination of Employment. 

(1) If the Optionee’s employment with the Company is terminated during the Option Period “for Cause” (as defined in the Plan),
the Option, whether exercisable or not, shall thereupon expire. 
 (2) If the Optionee voluntarily terminates the Optionee’s employment
(“Voluntary Termination”), [other than for Good Reason (as such term is defined in the Optionee’s employment agreement with the Company)], so that the Optionee no longer serves in any capacity as an employee, the
Option, whether exercisable or not, shall expire upon the thirtieth (30th) day following such Voluntary Termination (but in no event may the Option be exercised after the expiration of the
Option Period). 
 (3) If the Optionee [terminates employment for Good Reason (as defined in the Optionee’s employment agreement
with the Company) or otherwise] ceases to be employed by the Company for any reason other than as a result of a termination for Cause, a Voluntary Termination, death, or disability (“Involuntary Termination”), then the
Option, whether exercisable or not, shall expire three (3) months following the date of such termination (but in no event may the Option be exercised after the expiration of the Option Period). 

(f) Death or Disability. In the event that Optionee dies or Optionee’s employment ceases because Optionee is determined to be
disabled, the Option may be exercised (to the extent Optionee would have been entitled to do so at the date of death or termination of employment) at any time and from time to time, within a three-month period after such death or termination of

  
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employment, by Optionee or Optionee’s guardian or legal representative or, in the case of death, the executor or administrator of Optionee’s estate or by the person or persons to whom
Optionee’s rights under this Option Agreement shall pass by will or the laws of descent and distribution (after which period the Option shall expire), but in no event may the Option be exercised after the expiration of the Option Period.
Optionee shall be deemed to be disabled if, in the opinion of a physician selected by the Committee, Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months. 

(g) Transferability. This Option shall not be transferable by Optionee otherwise than by Optionee’s will or by the laws of descent
and distribution. During the lifetime of Optionee, the Option shall be exercisable only by Optionee or Optionee’s authorized legal representative. Any heir or legatee of Optionee shall take rights herein granted subject to the terms and
conditions hereof. No such transfer of this Option Agreement to heirs or legatees of Optionee shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and a copy of such evidence as the
Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof. 

(h) No Rights as Shareholder. Optionee shall have no rights as a shareholder with respect to any shares of Common Stock covered by this
Option Agreement until the Option is exercised by written notice and accompanied by payment as provided in Section 4 of this Option Agreement. 

(i) Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the
Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations, exchanges or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any
issuance of Common Stock or other securities or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of
the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedings, whether of a similar character or otherwise. If the Company goes through a “Fundamental Change” (as defined in
the Plan), the Options granted hereunder shall be governed by Section 6 of the Plan. 
 (j) Change of Control.
[Upon the occurrence of an event of Change of Control][If a Change of Control occurs and immediately prior to or within twelve (12) months after, the effective time of such Change of Control the Optionee’s service with the Company
terminates due to an involuntary termination (not including death or disability) without Cause or due to Optionee’s voluntary termination with Good Reason (as such term is defined in Section (10)(b) below), then, as of the date of
termination], all of the Options covered by this Agreement shall immediately vest and become fully exercisable. Notwithstanding the foregoing, the rights of the Optionee to further payments pursuant to any other agreement with the Company
following a Change of Control shall not be terminated.  

  
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(1) For the purposes of this Agreement, each of the following events shall hereinafter be defined as a “Change of Control”: 

(i) the Company shall not be the surviving entity in any merger, consolidation or other reorganization (or survives only as a subsidiary of
an entity other than a previously wholly-owned subsidiary of the Company); or 
 (ii) the Company sells, leases, or exchanges all or
substantially all of its assets to any other person or entity (other than a wholly-owned subsidiary of the Company); or 
 (iii) the
Company is to be dissolved or liquidated; or 
 (iv) any person or entity, including a “group” as contemplated by
Section 13(d)(3) of the 1934 Act, acquires or gains ownership or control (including, without limitation, power to vote) of more than 50% of the outstanding shares of the Company’s voting stock (based upon voting power); or 

(v) as a result of or in connection with a contested election of directors, the persons who were directors of the Company before such
election shall cease to constitute a majority of the Board. 
 (2) [For purposes of this Agreement, “Good
Reason” means that one or more of the following are undertaken by the Company (or successor to the Company, if applicable) without Optionee’s express written consent:] 

(i) [a material reduction in Optionee’s annual base salary; provided, however, that Good Reason will not be deemed
to have occurred in the event of a reduction in Optionee’s annual base salary that is pursuant to a salary reduction program affecting substantially all of the employees of the Company and that does not adversely affect Optionee to a greater
extent than other similarly situated employees;] 
 (ii) [a material reduction in Optionee’s authority,
duties or responsibilities;] 
 (iii) [any failure by the Company to continue in effect any material benefit
plan or program, including incentive plans or plans with respect to the receipt of securities of the Company, in which Optionee was participating immediately prior to the effective date of the Change of Control (hereinafter referred to as
“Benefit Plans”), or the taking of any action by the Company that would adversely affect Optionee’s participation in or reduce Optionee’s benefits under the Benefit Plans or deprive Optionee of any fringe benefit that
Optionee enjoyed immediately prior to the effective date of the Change of Control; provided, however, that Good Reason will not be deemed to have occurred if the Company provides for Optionee’s participation in benefit plans and programs that,
taken as a whole, are comparable to the Benefit Plans;] 
 (iv) [a relocation of Optionee’s principal
place of employment with the Company (or successor to the Company, if applicable) to a place that increases Optionee’s 

  
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one-way commute by more than fifty (50) miles as compared to Optionee’s then-current principal place of employment immediately prior to such relocation, except for required travel by
Optionee on the Company’s business to an extent substantially consistent with Optionee’s business travel obligations prior to the effective date of the Change of Control; or] 

(v) [a material breach by the Company of any provision of the Plan or the Option Agreement or any other material
agreement between Optionee and the Company concerning the terms and conditions of Optionee’s employment or service with the Company.] 

(k) Changes in Capital Structure. If the outstanding shares of Common Stock or other securities of the Company, or both, for which the
Option is then exercisable shall at any time be changed or exchanged by declaration of a stock dividend, stock split, combination of shares, recapitalization or reorganization, the number and kind of shares of Common Stock or other securities
subject to the Plan or subject to the Option, and the exercise price, shall be appropriately and equitably adjusted so as to maintain the proportionate number of shares or other securities without changing the aggregate exercise price. 

(l) Shareholder Agreement. Optionee, or Optionee’s representative upon Optionee’s death, prior to the exercise of an Option
granted hereunder, agrees to enter into a form of shareholders agreement in a form requested by the Company to which other holders of Common Stock acquired through the exercise of an Option issued under the Plan are subject. 

(m) Compliance With Securities Laws. Upon the acquisition of any shares pursuant to the exercise of the Option herein granted, Optionee
(or any person acting under Section 7) will enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with applicable securities laws or with this Option Agreement. 

(n) Compliance With Laws. Notwithstanding any of the other provisions hereof, Optionee agrees that he or she will not exercise the
Option granted hereby, and that the Company will not be obligated to issue any shares pursuant to this Option Agreement, if the exercise of the Option or the issuance of such shares of Common Stock would constitute a violation by Optionee or by the
Company of any provision of any law or regulation of any governmental authority. 
 (o) Withholding of Tax. To the extent that the
exercise of this Option or the disposition of shares of Common Stock acquired by exercise of this Option results in compensation income to Optionee for federal or state income tax purposes, Optionee shall pay to the Company at the time of such
exercise or disposition such amount of money as the Company may require to meet its obligation under applicable tax laws or regulations and, if Optionee fails to do so, the Company is authorized to withhold from any cash remuneration then or
thereafter payable to Optionee, any tax required to be withheld by reason of such resulting compensation income or Company may otherwise refuse to issue or transfer any shares otherwise required to be issued or transferred pursuant to the terms
hereof. Payment of the withholding tax by Optionee shall be made in accordance with Section 10 of the Plan. 

  
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(p) No Right to Employment. Optionee shall be considered to be in the employment of the Company or its Affiliates so long as he or she
remains an employee of the Company or its Affiliates. Any questions as to whether and when there has been a termination of such employment and the cause of such termination shall be determined by the Committee, and its determination shall be final.
Nothing contained herein shall be construed as conferring upon Optionee the right to continue in the employ of the Company or its Affiliates, nor shall anything contained herein be construed or interpreted to limit the “employment at will”
relationship between Optionee and the Company or its Affiliates. 
 (q) Resolution of Disputes. As a condition of the granting of the
Option hereby, Optionee and Optionee’s heirs, personal representatives and successors agree that any dispute or disagreement which may arise hereunder shall be determined by the Committee in its sole discretion and judgment, and that any such
determination and any interpretation by the Committee of the terms of this Option Agreement shall be final and shall be binding and conclusive, for all purposes, upon the Company, Optionee, and Optionee’s heirs, personal representatives and
successors. 
 (r) Legends on Certificate. The certificates representing the shares of Common Stock purchased by exercise of the
Option will be stamped or otherwise imprinted with legends in such form as the Company or its counsel may require with respect to any applicable restrictions on sale or transfer and the stock transfer records of the Company will reflect stop
transfer instructions with respect to such shares. 
 (s) Notices. Every notice hereunder shall be in writing and shall be given by
registered or certified mail. All notices of the exercise of any Option hereunder shall be directed to Bellicum Pharmaceuticals, Inc., 2130 West Holcombe Boulevard, Suite 850, Houston, TX 77030, Attention: Secretary. Any notice given by the Company
to Optionee directed to Optionee at the address on file with the Company shall be effective to bind Optionee and any other person who shall acquire rights hereunder. The Company shall be under no obligation whatsoever to advise Optionee of the
existence, maturity or termination of any of Optionee’s rights hereunder and Optionee shall be deemed to have familiarized himself or herself with all matters contained herein and in the Plan which may affect any of Optionee’s rights or
privileges hereunder. 
 (t) Construction and Interpretation. Whenever the term “Optionee” is used herein under
circumstances applicable to any other person or persons to whom this award, in accordance with the provisions of Section 7 hereof, may be transferred, the word “Optionee” shall be deemed to include such person or persons. 

(u) Agreement Subject to Plan. This Option Agreement is subject to the Plan. The terms and provisions of the Plan (including any
subsequent amendments thereto) are hereby incorporated herein by reference thereto. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will
govern and prevail. All definitions of words and terms contained in the Plan shall be applicable to this Option Agreement. 

  
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(v) Binding Effect. This Option Agreement shall be binding upon and inure to the benefit of any successors to the Company and all
persons lawfully claiming under Optionee as provided herein. 
 (w) Entire Agreement; Amendment. This Option Agreement and any other
agreements and instruments contemplated by this Option Agreement contain the entire agreement of the parties, and this Option Agreement may be amended only in writing signed by both parties. 

  
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BELLICUM PHARMACEUTICALS, INC. 

NONQUALIFIED STOCK OPTION AGREEMENT 

This Nonqualified Stock Option Agreement (“Option Agreement”) is between Bellicum Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), and                     (the “Optionee”), who agree as follows: 

(a) Introduction. The Company has heretofore adopted the Bellicum Pharmaceuticals, Inc. 2011 Stock Option Plan, as amended, (the
“Plan”) for the purpose of providing eligible employees, directors and consultants of the Company and its Affiliates (as defined in the Plan) with increased incentive to render services, to exert maximum effort for the business
success of the Company and to strengthen the identification of such individuals with the shareholders. The Company, acting through the Committee (as defined in the Plan), has determined that its interests will be advanced by the issuance to Optionee
of a nonqualified stock option under the Plan. 
 (b) Option. Subject to the terms and conditions contained herein, the Company
hereby irrevocably grants to Optionee the right and option (“Option”) to purchase from the Company                  shares of the Company’s common
stock, $0.01 par value (“Common Stock”), at a price of $         per share. 

(c) Option Period. The Option herein granted may be exercised by Optionee in whole or in part at any time during a ten
year period (the “Option Period”) beginning on                      (the “Date of Grant”), to the extent vested in
accordance with the terms of this Option Agreement. Optionee’s Option shall vest in accordance with the following schedule: [Insert Vesting Schedule] [33.33% of the Optionee’s Option shall vest on the Date of Grant, with an
additional 33.33%][25% of the Optionee’s Option shall vest on the Date of Grant, with an additional 25%] on each anniversary thereafter until the entire Option is fully vested, provided that Optionee remains an eligible employee,
director, consultant, or other service provider of the Company on all such dates. In the event that Optionee no longer serves the Company in any capacity as an employee, a director, a consultant, or a service provider, the shares offered by this
Option shall cease to vest on the date of such termination. 
 Notwithstanding anything in this Option Agreement to the contrary, the
Committee, in its sole discretion, may waive the foregoing schedule of vesting and upon written notice to Optionee, accelerate the earliest date or dates on which any of the Options granted hereunder are exercisable. 

(d) Procedure for Exercise. The Option herein granted may be exercised by the delivery by Optionee of written notice to the Secretary
of the Company setting forth the number of shares of Common Stock with respect to which the Option is being exercised. The notice shall be accompanied by, at the election of Optionee, (1) cash, cashier’s check, bank draft, or postal or
express money order payable to the order of the Company, (2) certificates representing shares of Common Stock theretofore owned by Optionee duly endorsed for transfer to the Company, (3) an election by Optionee to have the Company withhold
the number of 

  
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 NSO FORM 1 
  

 
shares of Common Stock the fair market value of which is equal to the aggregate exercise price of the shares of Common Stock issuable upon exercise of the Option, or (4) any combination of
the preceding, equal in value to the aggregate exercise price. Notice may also be delivered by telecopy provided that the exercise price of such shares is received by the Company via wire transfer on the same day the telecopy transmission is
received by the Company. The notice shall specify the address to which the certificates for such shares are to be mailed. This Option shall be deemed to have been exercised immediately prior to the close of business on the date (1) written
notice of such exercise and (2) payment in full of the exercise price for the number of share for which Options are being exercised, are both received by the Company and Optionee shall be treated for all purposes as the record holder of such
shares of Common Stock as of such date. 
 As promptly as practicable after receipt of such written notice and payment, the Company shall deliver to
Optionee certificates for the number of shares with respect to which such Option has been so exercised, issued in Optionee’s name or such other name as Optionee directs; provided, however, that such delivery shall be deemed effected for all
purposes when a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to Optionee at the address specified pursuant to this Section 4. 

(e) Termination of Employment or Service. 

(1) If the Optionee’s service with the Company is terminated during the Option Period “for Cause” (as defined in the Plan), so
that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, the Option, whether exercisable or not, shall thereupon expire. 

(2) If the Optionee voluntarily terminates the Optionee’s service (“Voluntary Termination”), other than for Good Reason,
so that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, the Option, whether exercisable or not, shall expire upon the thirtieth
(30th) day following such Voluntary Termination. 
 (3) If the Optionee terminates
the Optionee’s service to the Company for Good Reason or the Optionee ceases to provide services to the Company for any reason other than as a result of a termination for Cause, Voluntary Termination, death, or disability (“Involuntary
Termination”) so that the Optionee no longer serves in any capacity as an employee, a director, a consultant, or a service provider, then the Option, whether exercisable or not, shall expire at the end of the Option Period. 

(f) Death or Disability. In the event that Optionee dies or Optionee’s employment or service ceases because Optionee is determined
to be disabled, the Option may be exercised (to the extent Optionee would have been entitled to do so at the date of death or termination of employment or service) at any time and from time to time, within a one year period after such death or
termination of employment, by Optionee or his guardian or legal representative or, in the case of death, the executor or administrator of Optionee’s estate or by the person or persons to whom Optionee’s rights under this Option Agreement
shall pass by will or the laws of descent and distribution (after which period the Option shall expire), but in no event may the Option be exercised after the expiration of the Option Period. Optionee shall be

  
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 NSO FORM 1 
  

 
deemed to be disabled if, in the opinion of a physician selected by the Committee, Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months. 

(g) Transferability. This Option shall not be transferable by Optionee otherwise than by Optionee’s will or by the laws of descent
and distribution. During the lifetime of Optionee, the Option shall be exercisable only by Optionee or his authorized legal representative. Any heir or legatee of Optionee shall take rights herein granted subject to the terms and conditions hereof.
No such transfer of this Option Agreement to heirs or legatees of Optionee shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and a copy of such evidence as the Committee may deem
necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof. 

(h) No Rights as Shareholder. Optionee shall have no rights as a shareholder with respect to any shares of Common Stock covered by this
Option Agreement until the Option is exercised by written notice and accompanied by payment as provided in Section 4 of this Option Agreement. 

(i) Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the
Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations, exchanges or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any
issuance of Common Stock or other securities or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of
the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedings, whether of a similar character or otherwise. If the Company goes through a “Fundamental Change” (as defined in
the Plan), the Options granted hereunder shall be governed by Section 6 of the Plan. 
 (j) Change of Control. Upon the
occurrence of an event of Change of Control, all of the Options covered by this Agreement shall immediately vest and become fully exercisable. Notwithstanding the foregoing, the rights of the Optionee to further payments pursuant to any other
agreement with the Company following a Change of Control shall not be terminated. For the purposes of this Agreement, each of the following events shall hereinafter be defined as a “Change of Control”: 

(1) the Company shall not be the surviving entity in any merger, consolidation or other reorganization (or survives only as a subsidiary of an
entity other than a previously wholly-owned subsidiary of the Company); or 
 (2) the Company sells, leases, or exchanges all or
substantially all of its assets to any other person or entity (other than a wholly-owned subsidiary of the Company); or 
 (3) the Company
is to be dissolved or liquidated; or 

  
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 NSO FORM 1 
  

 (4) any person or entity, including a “group” as contemplated by
Section 13(d)(3) of the 1934 Act, acquires or gains ownership or control (including, without limitation, power to vote) of more than 50% of the outstanding shares of the Company’s voting stock (based upon voting power); or 

(5) as a result of or in connection with a contested election of directors, the persons who were directors of the Company before such election
shall cease to constitute a majority of the Board. 
 (k) Changes in Capital Structure. If the outstanding shares of Common Stock or
other securities of the Company, or both, for which the Option is then exercisable shall at any time be changed or exchanged by declaration of a stock dividend, stock split, combination of shares, recapitalization or reorganization, the number and
kind of shares of Common Stock or other securities subject to the Plan or subject to the Option, and the exercise price, shall be appropriately and equitably adjusted so as to maintain the proportionate number of shares or other securities without
changing the aggregate exercise price. 
 (l) Shareholder Agreement. Optionee, or Optionee’s representative upon Optionee’s
death, prior to the exercise of an Option granted hereunder, agrees to enter into a form of shareholders agreement in a form requested by the Company to which other holders of Common Stock acquired through the exercise of an Option issued under the
Plan are subject. 
 (m) Compliance With Securities Laws. Upon the acquisition of any shares pursuant to the exercise of the Option
herein granted, Optionee (or any person acting under Section 7) will enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with applicable securities laws or with this Option
Agreement. 
 (n) Compliance With Laws. Notwithstanding any of the other provisions hereof, Optionee agrees that he or she will not
exercise the Option granted hereby, and that the Company will not be obligated to issue any shares pursuant to this Option Agreement, if the exercise of the Option or the issuance of such shares of Common Stock would constitute a violation by
Optionee or by the Company of any provision of any law or regulation of any governmental authority. 
 (o) Withholding of Tax. To the
extent that the exercise of this Option or the disposition of shares of Common Stock acquired by exercise of this Option results in compensation income to Optionee for federal or state income tax purposes, Optionee shall pay to the Company at the
time of such exercise or disposition such amount of money as the Company may require to meet its obligation under applicable tax laws or regulations and, if Optionee fails to do so, the Company is authorized to withhold from any cash remuneration
then or thereafter payable to Optionee, any tax required to be withheld by reason of such resulting compensation income or Company may otherwise refuse to issue or transfer any shares otherwise required to be issued or transferred pursuant to the
terms hereof. Payment of the withholding tax by Optionee shall be made in accordance with Section 10 of the Plan. 

  
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 NSO FORM 1 
  

 (p) No Right to Employment or Directorship. Optionee shall be considered to be in the
employment of the Company or its Affiliates or in service as a director or consultant so long as he or she remains an employee, director or consultant of the Company or its Affiliates. Any questions as to whether and when there has been a
termination of such employment or service as a director or consultant and the cause of such termination shall be determined by the Committee, and its determination shall be final. Nothing contained herein shall be construed as conferring upon
Optionee the right to continue in the employ of the Company or its Affiliates or to continue service as a director or consultant, nor shall anything contained herein be construed or interpreted to limit the “employment at will”
relationship between Optionee and the Company or its Affiliates. 
 (q) Resolution of Disputes. As a condition of the granting of the
Option hereby, Optionee and Optionee’s heirs, personal representatives and successors agree that any dispute or disagreement which may arise hereunder shall be determined by the Committee in its sole discretion and judgment, and that any such
determination and any interpretation by the Committee of the terms of this Option Agreement shall be final and shall be binding and conclusive, for all purposes, upon the Company, Optionee, and Optionee’s heirs, personal representatives and
successors. 
 (r) Legends on Certificate. The certificates representing the shares of Common Stock purchased by exercise of the
Option will be stamped or otherwise imprinted with legends in such form as the Company or its counsel may require with respect to any applicable restrictions on sale or transfer and the stock transfer records of the Company will reflect stop
transfer instructions with respect to such shares. 
 (s) Notices. Every notice hereunder shall be in writing and shall be given by
registered or certified mail. All notices of the exercise of any Option hereunder shall be directed to Bellicum Pharmaceuticals, Inc., 2130 West Holcombe Boulevard, Suite 850, Houston, TX 77030, Attention: Secretary. Any notice given by the Company
to Optionee directed to Optionee at the address on file with the Company shall be effective to bind Optionee and any other person who shall acquire rights hereunder. The Company shall be under no obligation whatsoever to advise Optionee of the
existence, maturity or termination of any of Optionee’s rights hereunder and Optionee shall be deemed to have familiarized himself or herself with all matters contained herein and in the Plan which may affect any of Optionee’s rights or
privileges hereunder. 
 (t) Construction and Interpretation. Whenever the term “Optionee” is used herein under
circumstances applicable to any other person or persons to whom this award, in accordance with the provisions of Section 7 hereof, may be transferred, the word “Optionee” shall be deemed to include such person or persons. 

(u) Agreement Subject to Plan. This Option Agreement is subject to the Plan. The terms and provisions of the Plan (including any
subsequent amendments thereto) are hereby incorporated herein by reference thereto. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will
govern and prevail. All definitions of words and terms contained in the Plan shall be applicable to this Option Agreement. 

  
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 NSO FORM 1 
  

 (v) Binding Effect. This Option Agreement shall be binding upon and inure to the
benefit of any successors to the Company and all persons lawfully claiming under Optionee as provided herein. 
 (w) Entire Agreement;
Amendment. This Option Agreement and any other agreements and instruments contemplated by this Option Agreement contain the entire agreement of the parties, and this Option Agreement may be amended only in writing signed by both parties. 

[Signature Page Follows] 

  
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 NSO FORM 1 
  

 IN WITNESS WHEREOF, this Nonqualified Stock Option Agreement has been executed as of
the     day of             . 
  

			
	BELLICUM PHARMACEUTICALS, INC.
		
	By:	 	  

	Name:	 	Thomas J. Farrell
	Title:	 	President & CEO
	
	OPTIONEE:
		
	By:	 	  

	Name:	 	

  
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BELLICUM PHARMACEUTICALS, INC. 

NONQUALIFIED STOCK OPTION AGREEMENT 

This Nonqualified Stock Option Agreement (“Option Agreement”) is between Bellicum Pharmaceuticals, Inc., a Delaware corporation (the
“Company”), and                      (“Optionee”), who agree as follows: 

1. Introduction. The Company has heretofore adopted the Bellicum Pharmaceuticals, Inc. 2011 Stock Option Plan, as amended (the
“Plan”) for the purpose of providing eligible employees, directors and consultants of the Company and its Affiliates (as defined in the Plan) with increased incentive to render services, to exert maximum effort for the business success of
the Company and to strengthen the identification of such individuals with the shareholders. The Company, acting through the Committee (as defined in the Plan), has determined that its interests will be advanced by the issuance to Optionee of a
Nonqualified Option under the Plan. 
 2. Option. Subject to the terms and conditions contained herein, the Company hereby
irrevocably grants to Optionee the right and option (“Option”) to purchase from the Company                  shares of the Company’s common stock, $0.01
par value (“Common Stock”), at a price of $         per share. 
 3. Option Period.
The Option herein granted may be exercised by Optionee in whole or in part at any time during a ten year period (the “Option Period”) beginning on
                     (the “Date of Grant”), to the extent vested in accordance with the terms of this Option Agreement. Optionee’s
Option shall vest in accordance with the following schedule: [Insert Vesting Schedule] [12/48 of the Optionee’s Option shall vest on the one (1) year anniversary of the Date of Grant, and an additional 1/48 of the Optionee’s
Option shall vest on each subsequent one (1) month anniversary thereafter] [1/48 of the Optionee’s Option shall vest on the one (1) month anniversary of the Date of Grant, and an additional 1/48 of the Optionee’s Option shall
vest on each subsequent one (1) month anniversary thereafter] [25% of the Optionee’s Option shall vest on the Date of Grant, with an additional 25% on each anniversary thereafter] until the entire Option is fully vested, provided
that Optionee remains an eligible employee, director, consultant or other service provider of the Company on all such dates. In the event of the termination of Optionee’s employment or service with the Company, the shares offered by this Option
shall cease to vest on the date of such termination. 
 Notwithstanding anything in this Option Agreement to the contrary, the Committee, in its sole
discretion, may waive the foregoing schedule of vesting and upon written notice to Optionee, accelerate the earliest date or dates on which any of the Options granted hereunder are exercisable. 

4. Procedure for Exercise. The Option herein granted may be exercised by the delivery by Optionee of written notice to the Secretary of
the Company setting forth the number of shares of Common Stock with respect to which the Option is being exercised. The notice shall be accompanied by, at the election of Optionee, (i) cash, cashier’s check, bank draft, or 

  
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postal or express money order payable to the order of the Company, (ii) certificates representing shares of Common Stock theretofore owned by Optionee duly endorsed for transfer to the
Company, (iii) an election by Optionee to have the Company withhold the number of shares of Common Stock the fair market value of which is equal to the aggregate exercise price of the shares of Common Stock issuable upon exercise of the Option,
or (iv) any combination of the preceding, equal in value to the aggregate exercise price. Notice may also be delivered by telecopy provided that the exercise price of such shares is received by the Company via wire transfer on the same day the
telecopy transmission is received by the Company. The notice shall specify the address to which the certificates for such shares are to be mailed. This Option shall be deemed to have been exercised immediately prior to the close of business on the
date (i) written notice of such exercise and (ii) payment in full of the exercise price for the number of share for which Options are being exercised, are both received by the Company and Optionee shall be treated for all purposes as the
record holder of such shares of Common Stock as of such date. 
 As promptly as practicable after receipt of such written notice and payment, the Company
shall deliver to Optionee certificates for the number of shares with respect to which such Option has been so exercised, issued in Optionee’s name or such other name as Optionee directs; provided, however, that such delivery shall be deemed
effected for all purposes when a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to Optionee at the address specified pursuant to this Section 4. 

5. Termination of Employment. 

(a) If the Optionee’s employment or service with the Company is terminated during the Option Period “for Cause” (as defined in
the Plan), the Option, whether exercisable or not, shall thereupon expire. 
 (b) If the Optionee voluntarily terminates the Optionee’s
employment or service (“Voluntary Termination”), [other than for Good Reason (as such term is defined in the Optionee’s employment agreement with the Company)], so that the Optionee no longer serves in any
capacity as an employee, consultant, director or other service provider, the Option, whether exercisable or not, shall expire upon the thirtieth (30th) day following such Voluntary
Termination, but in no event may the Option be exercised after the expiration of the Option Period. 
 (c) If the Optionee [terminates
employment for Good Reason (as defined in the Optionee’s employment agreement with the Company) or otherwise, if applicable] ceases to be employed by or provide services to the Company for any reason other than as a result of a
termination for Cause, a Voluntary Termination, death, or disability (“Involuntary Termination”), then the Option, whether exercisable or not, shall expire three (3) months following the date of such termination, but in no
event may the Option be exercised after the expiration of the Option Period. 
 6. Death or Disability. In the event that Optionee
dies or Optionee’s employment or service ceases because Optionee is determined to be disabled, the Option may be exercised (to the extent Optionee would have been entitled to do so at the date of death or termination of

  
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employment or service) at any time and from time to time, within a [one-year] period after such death or termination of employment, by Optionee or Optionee’s
guardian or legal representative or, in the case of death, the executor or administrator of Optionee’s estate or by the person or persons to whom Optionee’s rights under this Option Agreement shall pass by will or the laws of descent and
distribution (after which period the Option shall expire), but in no event may the Option be exercised after the expiration of the Option Period. Optionee shall be deemed to be disabled if, in the opinion of a physician selected by the Committee,
Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of
not less than twelve (12) months. 
 7. Transferability. This Option shall not be transferable by Optionee otherwise than by
Optionee’s will or by the laws of descent and distribution. During the lifetime of Optionee, the Option shall be exercisable only by Optionee or Optionee’s authorized legal representative. Any heir or legatee of Optionee shall take rights
herein granted subject to the terms and conditions hereof. No such transfer of this Option Agreement to heirs or legatees of Optionee shall be effective to bind the Company unless the Company shall have been furnished with written notice thereof and
a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions hereof. 

8. No Rights as Shareholder. Optionee shall have no rights as a shareholder with respect to any shares of Common Stock covered by this
Option Agreement until the Option is exercised by written notice and accompanied by payment as provided in Section 4 of this Option Agreement. 

9. Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the
Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations, exchanges or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any
issuance of Common Stock or other securities or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of
the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedings, whether of a similar character or otherwise. If the Company goes through a “Fundamental Change” (as defined in
the Plan), the Options granted hereunder shall be governed by Section 6 of the Plan. 
 10. Change of Control. If a Change of
Control occurs and immediately prior to or within twelve (12) months after, the effective time of such Change of Control the Optionee’s service with the Company terminates due to an involuntary termination (not including death or
disability) without Cause or due to Optionee’s voluntary termination with Good Reason (as such term is defined in Section (10)(b) below), then, as of the date of termination, all of the Options covered by this Agreement shall immediately
vest and become fully exercisable. Notwithstanding the foregoing, the rights of the Optionee to further payments pursuant to any other agreement with the Company following a Change of Control shall not be terminated. 

  
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 (a) For the purposes of this Agreement, each of the following events shall hereinafter be
defined as a “Change of Control”: 
 (1) the Company shall not be the surviving entity in any merger, consolidation or other
reorganization (or survives only as a subsidiary of an entity other than a previously wholly-owned subsidiary of the Company); or 
 (2)
the Company sells, leases, or exchanges all or substantially all of its assets to any other person or entity (other than a wholly-owned subsidiary of the Company); or 

(3) the Company is to be dissolved or liquidated; or 

(4) any person or entity, including a “group” as contemplated by Section 13(d)(3) of the 1934 Act, acquires or gains ownership
or control (including, without limitation, power to vote) of more than 50% of the outstanding shares of the Company’s voting stock (based upon voting power); or 

(5) as a result of or in connection with a contested election of directors, the persons who were directors of the Company before such
election shall cease to constitute a majority of the Board. 
 (b) For purposes of this Agreement, “Good Reason” shall apply to an
Optionee who is an employee of the Company (or a successor to the Company, if applicable) and means that one or more of the following are undertaken by the Company (or successor to the Company, if applicable) without Optionee’s express written
consent: 
 (1) a material reduction in Optionee’s annual base salary; provided, however, that Good Reason will not be deemed
to have occurred in the event of a reduction in Optionee’s annual base salary that is pursuant to a salary reduction program affecting substantially all of the employees of the Company and that does not adversely affect Optionee to a greater
extent than other similarly situated employees; 
 (2) a material reduction in Optionee’s authority, duties or responsibilities; 

(3) any failure by the Company to continue in effect any material benefit plan or program, including incentive plans or plans with respect to
the receipt of securities of the Company, in which Optionee was participating immediately prior to the effective date of the Change of Control (hereinafter referred to as “Benefit Plans”), or the taking of any action by the Company
that would adversely affect Optionee’s participation in or reduce Optionee’s benefits under the Benefit Plans or deprive Optionee of any fringe benefit that Optionee enjoyed immediately prior to the effective date of the Change of Control;
provided, however, that Good Reason will not be deemed to have occurred if the Company provides for Optionee’s participation in benefit plans and programs that, taken as a whole, are comparable to the Benefit Plans; 

  
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 (4) a relocation of Optionee’s principal place of employment with the Company (or
successor to the Company, if applicable) to a place that increases Optionee’s one-way commute by more than fifty (50) miles as compared to Optionee’s then-current principal place of employment immediately prior to such relocation,
except for required travel by Optionee on the Company’s business to an extent substantially consistent with Optionee’s business travel obligations prior to the effective date of the Change of Control; or 

(5) a material breach by the Company of any provision of the Plan or the Option Agreement or any other material agreement between Optionee
and the Company concerning the terms and conditions of Optionee’s employment or service with the Company. 
 11. Changes in Capital
Structure. If the outstanding shares of Common Stock or other securities of the Company, or both, for which the Option is then exercisable shall at any time be changed or exchanged by declaration of a stock dividend, stock split, combination of
shares, recapitalization or reorganization, the number and kind of shares of Common Stock or other securities subject to the Plan or subject to the Option, and the exercise price, shall be appropriately and equitably adjusted so as to maintain the
proportionate number of shares or other securities without changing the aggregate exercise price. 
 12. Shareholder Agreement.
Optionee, or Optionee’s representative upon Optionee’s death, prior to the exercise of an Option granted hereunder, agrees to enter into a form of shareholders agreement in a form requested by the Company to which other holders of
Common Stock acquired through the exercise of an Option issued under the Plan are subject. 
 13. Compliance With Securities Laws.
Upon the acquisition of any shares pursuant to the exercise of the Option herein granted, Optionee (or any person acting under Section 7) will enter into such written representations, warranties and agreements as the Company may reasonably
request in order to comply with applicable securities laws or with this Option Agreement. 
 14. Compliance With Laws.
Notwithstanding any of the other provisions hereof, Optionee agrees that he or she will not exercise the Option granted hereby, and that the Company will not be obligated to issue any shares pursuant to this Option Agreement, if the exercise of the
Option or the issuance of such shares of Common Stock would constitute a violation by Optionee or by the Company of any provision of any law or regulation of any governmental authority. 

15. Withholding of Tax. To the extent that the exercise of this Option or the disposition of shares of Common Stock acquired by
exercise of this Option results in compensation income to Optionee for federal or state income tax purposes, Optionee shall pay to the Company at the time of such exercise or disposition such amount of money as the Company may require to meet its
obligation under applicable tax laws or regulations and, if Optionee fails to do so, the Company is authorized to withhold from any cash remuneration then or thereafter payable to Optionee, any tax required to be withheld by reason of such resulting
compensation income or Company may otherwise refuse to issue or transfer any shares otherwise required to be issued or transferred pursuant to the terms hereof. Payment of the withholding tax by Optionee shall be made in accordance with
Section 10 of the Plan. 

  
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 16. No Right to Employment or Directorship. Optionee shall be considered to be in the
employment of the Company or its Affiliates or in service as a director or consultant so long as he or she remains an employee, director or consultant of the Company or its Affiliates. Any questions as to whether and when there has been a
termination of such employment or service as a director or consultant and the cause of such termination shall be determined by the Committee, and its determination shall be final. Nothing contained herein shall be construed as conferring upon
Optionee the right to continue in the employ of the Company or its Affiliates or to continue service as a director or consultant, nor shall anything contained herein be construed or interpreted to limit the “employment at will”
relationship between Optionee and the Company or its Affiliates. 
 17. Resolution of Disputes. As a condition of the granting of the
Option hereby, Optionee and Optionee’s heirs, personal representatives and successors agree that any dispute or disagreement which may arise hereunder shall be determined by the Committee in its sole discretion and judgment, and that any such
determination and any interpretation by the Committee of the terms of this Option Agreement shall be final and shall be binding and conclusive, for all purposes, upon the Company, Optionee, and Optionee’s heirs, personal representatives and
successors. 
 18. Legends on Certificate. The certificates representing the shares of Common Stock purchased by exercise of the
Option will be stamped or otherwise imprinted with legends in such form as the Company or its counsel may require with respect to any applicable restrictions on sale or transfer and the stock transfer records of the Company will reflect stop-transfer instructions with respect to such shares. 
 19. Notices. Every notice hereunder
shall be in writing and shall be given by registered or certified mail. All notices of the exercise of any Option hereunder shall be directed to Bellicum Pharmaceuticals, Inc., 2130 West Holcombe Boulevard, Suite 800, Houston, TX 77030, Attention:
Secretary. Any notice given by the Company to Optionee directed to Optionee at the address on file with the Company shall be effective to bind Optionee and any other person who shall acquire rights hereunder. The Company shall be under no obligation
whatsoever to advise Optionee of the existence, maturity or termination of any of Optionee’s rights hereunder and Optionee shall be deemed to have familiarized himself or herself with all matters contained herein and in the Plan which may
affect any of Optionee’s rights or privileges hereunder. 
 20. Construction and Interpretation. Whenever the term
“Optionee” is used herein under circumstances applicable to any other person or persons to whom this award, in accordance with the provisions of Section 7 hereof, may be transferred, the word “Optionee” shall be deemed to
include such person or persons. 
 21. Agreement Subject to Plan. This Option Agreement is subject to the Plan. The terms and
provisions of the Plan (including any subsequent amendments thereto) are hereby incorporated herein by reference thereto. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable
terms and provisions of the Plan will govern and prevail. All definitions of words and terms contained in the Plan shall be applicable to this Option Agreement. 

  
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 22. Binding Effect. This Option Agreement shall be binding upon and inure to the
benefit of any successors to the Company and all persons lawfully claiming under Optionee as provided herein. 
 23. Entire Agreement;
Amendment. This Option Agreement and any other agreements and instruments contemplated by this Option Agreement contain the entire agreement of the parties, and this Option Agreement may be amended only in writing signed by both parties. 

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, this Nonqualified Stock Option Agreement has been executed as of
the     day of             . 
  

			
	BELLICUM PHARMACEUTICALS, INC.
		
	By:	 	  

	Name:	 	Thomas J. Farrell
	Title:	 	President & CEO
	
	OPTIONEE
		
	By:	 	  

	Name:	 	

  
 8.

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