Document:

EX-10.9

 Exhibit 10.9 

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER
THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION
REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY
APPLICABLE STATE SECURITIES LAWS. THIS WARRANT MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY. 

WARRANT TO PURCHASE SHARES OF COMMON STOCK 

of 
 BOLT BIOTHERAPEUTICS,
INC. 
 Dated as of July 26, 2018 

Void after the date specified in Section 8 
  

			
	No.     	  	 Warrant to Purchase

                 Shares of

Common Stock
 (subject to
adjustment)

 THIS CERTIFIES THAT, in consideration of the sum of $        ,
                        , or its registered assigns (the “Holder”), is entitled, subject to the
provisions and upon the terms and conditions set forth herein, to purchase from Bolt Biotherapeutics, Inc., a Delaware corporation (the “Company”), shares of the Company’s Common Stock, $0.00001 par value per share (the
“Shares”), in the amounts, at such times and at the price per share set forth in Section 1. The term “Warrant” as used herein shall include this Warrant and any warrants delivered in substitution
or exchange therefor as provided herein. This Warrant is issued in connection with the transactions described in the Series B Preferred Stock Purchase Agreement, dated as of July 26, 2018, by and among the Company and the purchasers
described therein (the “Purchase Agreement”). The holder of this Warrant is subject to certain restrictions set forth in the Purchase Agreement and the Amended and Restated Investors’ Rights Agreement, dated as of
July 26, 2018, by and among the Company and the other parties named therein. This Warrant is one of a series of warrants referred to as the “Common Stock Warrants” in the Purchase Agreement. 

The following is a statement of the rights of the Holder and the conditions to which this Warrant is subject, and to which Holder, by
acceptance of this Warrant, agrees: 
 1. Number and Price of Shares; Exercise Period. 

(a) Number of Shares. Subject to any previous exercise of the Warrant, the Holder shall have the right to purchase up to
                 Shares, as may be adjusted pursuant hereto, prior to (or in connection with) the expiration of this Warrant as provided in Section 8. 

(b) Exercise Price. The exercise price per Share shall be equal to $0.01, subject to adjustment pursuant hereto (the
“Exercise Price”). 

 (c) Exercise Period. This Warrant shall be exercisable, in whole or in part,
on or prior to (or in connection with) the expiration of this Warrant as set forth in Section 8. 
 2. Exercise of the Warrant.

 (a) Exercise. The purchase rights represented by this Warrant may be exercised at the election of the Holder, in whole
or in part, but not for less than Two Hundred Thousand (200,000) Shares at a time (or such lesser number of shares which may then constitute the maximum number purchasable pursuant to Section 1) (such number being subject to adjustment as
provided in Section 6), in accordance with Section 1, by: 
 (i) the tender to the Company at its principal office (or such other
office or agency as the Company may designate) of a notice of exercise in the form of Exhibit A (the “Notice of Exercise”), duly completed and executed by or on behalf of the Holder, together with the surrender of this
Warrant; and 
 (ii) the payment to the Company of an amount equal to (x) the Exercise Price multiplied by (y) the number of
Shares being purchased, by wire transfer or certified, cashier’s or other check acceptable to the Company and payable to the order of the Company; 

(b) Net Issue Exercise. In lieu of exercising this Warrant pursuant to Section 2(a)(ii), if the fair market value of one
Share is greater than the Exercise Price (at the date of calculation as set forth below), the Holder may elect to receive a number of Shares equal to the value of this Warrant (or of any portion of this Warrant being canceled) by surrender of this
Warrant at the principal office of the Company (or such other office or agency as the Company may designate) together with a properly completed and executed Notice of Exercise reflecting such election, in which event the Company shall issue to the
Holder that number of Shares computed using the following formula: 
  

					
	X	 	=	 	 Y (A – B)

	 	A

 Where: 
  

							
		 	X	    	=	  	The number of Shares to be issued to the Holder
				
		 	Y	    	=	  	The number of Shares purchasable under this Warrant or, if only a portion of the Warrant is being exercised, the portion of the Warrant being canceled (at the date of such calculation)
				
		 	A	    	=	  	The fair market value of one Share (at the date of such calculation)
				
		 	B	    	=	  	The Exercise Price (as adjusted to the date of such calculation)

 For purposes of the calculation above, the fair market value of one Share shall be determined by the Board of
Directors of the Company, acting in good faith; provided, however, that: 
 (i) where a public market exists for the Company’s
Common Stock at the time of such exercise, the fair market value per Share shall be the average of the closing bid prices of the Common Stock or the closing price quoted on the national securities exchange on which the Common Stock is listed as
published in the Wall Street Journal, as applicable, for the ten (10) trading day period ending five (5) trading days prior to the date of determination of fair market value; and 

  
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 (ii) if the Warrant is exercised in connection with the Company’s initial public
offering of Common Stock, the fair market value per Share shall be the per share offering price to the public in the Company’s initial public offering. 

(c) Stock Certificates. The rights under this Warrant shall be deemed to have been exercised and the Shares issuable upon such
exercise shall be deemed to have been issued immediately prior to the close of business on the date this Warrant is exercised in accordance with its terms, and the person entitled to receive the Shares issuable upon such exercise shall be treated
for all purposes as the holder of record of such Shares as of the close of business on such date. As promptly as reasonably practicable on or after such date, the Company shall issue and deliver to the person or persons entitled to receive the same
a certificate or certificates (or a notice of issuance of uncertificated shares, if applicable) for that number of shares issuable upon such exercise. In the event that the rights under this Warrant are exercised in part and have not expired, the
Company shall execute and deliver a new Warrant reflecting the number of Shares that remain subject to this Warrant. 
 (d) No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of the rights under this Warrant. In lieu of such fractional share to which the Holder would otherwise be entitled,
the Company shall make a cash payment equal to the Exercise Price multiplied by such fraction. 
 (e) Conditional Exercise.
The Holder may exercise this Warrant conditioned upon (and effective immediately prior to) consummation of any transaction that would cause the expiration of this Warrant pursuant to Section 8 by so indicating in the notice of exercise. 

(f) Automatic Exercise. If the Holder of this Warrant has not elected to exercise this Warrant prior to expiration of this
Warrant pursuant to Section 8, then this Warrant shall automatically (without any act on the part of the Holder) be exercised pursuant to Section 2(b) effective immediately prior to the expiration of the Warrant to the extent such net
issue exercise would result in the issuance of Shares, unless Holder shall earlier provide written notice to the Company that the Holder desires that this Warrant expire unexercised. If this Warrant is automatically exercised, the Company shall
notify the Holder of the automatic exercise as soon as reasonably practicable, and the Holder shall surrender the Warrant to the Company in accordance with the terms hereof. 

(g) Reservation of Stock. The Company agrees during the term the rights under this Warrant are exercisable to take all
reasonable action to reserve and keep available from its authorized and unissued shares of Common Stock solely for the purpose of effecting the exercise of this Warrant such number of shares as shall from time to time be sufficient to effect the
exercise of the rights under this Warrant; and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient for purposes of the exercise of this Warrant in accordance with its terms, without limitation of such
other remedies as may be available to the Holder, the Company will use all reasonable efforts to take such corporate action as may, in the opinion of counsel, be necessary to increase its authorized and unissued shares of Common Stock to a number of
shares as shall be sufficient for such purposes. The Company represents and warrants that all shares that may be issued upon the exercise of this Warrant will, when issued in accordance with the terms hereof, be validly issued, fully paid and
nonassessable. 
 3. Replacement of the Warrant. Subject to the receipt of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and substance to the Company or, in the case of mutilation, on surrender and
cancellation of this Warrant, the Company at the expense of the Holder shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount. 

  
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 4. Transfer of the Warrant. 

(a) Warrant Register. The Company shall maintain a register (the “Warrant Register”) containing the name
and address of the Holder or Holders. Until this Warrant is transferred on the Warrant Register in accordance herewith, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant for all purposes,
notwithstanding any notice to the contrary. Any Holder of this Warrant (or of any portion of this Warrant) may change its address as shown on the Warrant Register by written notice to the Company requesting a change. 

(b) Warrant Agent. The Company may appoint an agent for the purpose of maintaining the Warrant Register referred to in
Section 4(a), issuing the Shares or other securities then issuable upon the exercise of the rights under this Warrant, exchanging this Warrant, replacing this Warrant or conducting related activities. 

(c) Transferability of the Warrant. Subject to the provisions of this Warrant with respect to compliance with the Securities Act
of 1933, as amended (the “Securities Act”) and limitations on assignments and transfers, including without limitation compliance with the restrictions on transfer set forth in Section 5, title to this Warrant may be
transferred by endorsement (by the transferor and the transferee executing the assignment form attached as Exhibit B (the “Assignment Form”)) and delivery in the same manner as a negotiable instrument transferable
by endorsement and delivery. 
 (d) Exchange of the Warrant upon a Transfer. On surrender of this Warrant (and a properly
endorsed Assignment Form) for exchange, subject to the provisions of this Warrant with respect to compliance with the Securities Act and limitations on assignments and transfers, the Company shall issue to or on the order of the Holder a new warrant
or warrants of like tenor, in the name of the Holder or as the Holder (on payment by the Holder of any applicable transfer taxes) may direct, for the number of shares issuable upon exercise hereof, and the Company shall register any such transfer
upon the Warrant Register. This Warrant (and the securities issuable upon exercise of the rights under this Warrant) must be surrendered to the Company or its warrant or transfer agent, as applicable, as a condition precedent to the sale, pledge,
hypothecation or other transfer of any interest in any of the securities represented hereby. 
 (e) Minimum Transfer. This
Warrant may not be transferred in part unless such transfer is to a transferee who, pursuant to such transfer, receives the right to purchase at least Two Hundred Thousand (200,000) Shares hereunder (as adjusted from time to time in accordance with
Section 6). 
 (f) Taxes. In no event shall the Company be required to pay any tax which may be payable in respect of any
transfer involved in the issue and delivery of any certificate, or a book entry, in a name other than that of the Holder, and the Company shall not be required to issue or deliver any such certificate, or make such book entry, unless and until the
person or persons requesting the issue or entry thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid or is not payable. 

5. Restrictions on Transfer of the Warrant and Shares; Compliance with Securities Laws. By acceptance of this Warrant, the Holder
agrees to comply with the following: 
 (a) Restrictions on Transfers. Subject to Section 5(b), this Warrant may be
transferred or assigned in whole or in part without the Company’s prior written consent so long as the transferee or assignee is not a Competitor (as defined in the Amended and Restated Investors’ Rights Agreement, dated on or about the
date hereof) of the Company. For the sake of clarity, neither Pivotal bioVenture Partners Fund I, L.P, Novo Holdings A/S or Vivo PANDA Fund, L.P or their Affiliates (as defined in the Amended and Restated Investors’ Rights Agreement, dated on
or about the date hereof) shall be deemed to be a Competitor. Any attempt by 

  
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Holder to transfer or assign any rights, duties or obligations that arise under this Warrant in contravention of the foregoing sentence shall be void. Any transfer of this Warrant or the Shares
(the “Securities”) must be in compliance with all applicable federal and state securities laws. The Holder agrees not to make any sale, assignment, transfer, pledge or other disposition of all or any portion of the
Securities, or any beneficial interest therein, unless and until the transferee thereof has agreed in writing for the benefit of the Company to take and hold such Securities subject to, and to be bound by, the terms and conditions set forth in this
Warrant to the same extent as if the transferee were the original Holder hereunder, and 
 (i) there is then in effect a registration
statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement, or 

(ii) (A) such Holder shall have given prior written notice to the Company of such Holder’s intention to make such disposition and
shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition, (B) the transferee shall have confirmed to the satisfaction of the Company in writing, substantially in the form of Exhibit A-1, that the Securities are being acquired (i) solely for the transferee’s own account and not as a nominee for any other party, (ii) for investment and (iii) not with a view toward
distribution or resale, and shall have confirmed such other matters related thereto as may be reasonably requested by the Company, and (C) if requested by the Company, such Holder shall have furnished the Company, at the Holder’s expense
and option, either (i) an opinion of counsel reasonably satisfactory to the Company if such opinion is reasonably determined to be required by the Company’s counsel, to the effect that such disposition will not require registration of such
Securities under the Securities Act, or (ii) a “no action” letter from the Securities and Exchange Commission to the effect that the transfer of such Securities without registration will not result in a recommendation by the staff of
the Securities and Exchange Commission that action be taken with respect thereto, whereupon such Holder shall be entitled to transfer such Securities in accordance with the terms of the notice delivered by the Holder to the Company. It is agreed
that the Company will not require opinions of counsel for transactions made pursuant to Rule 144 except in unusual circumstances or if such opinion is reasonably determined to be required by the Company’s counsel. 

(b) Permitted Transfers. Permitted transfers with respect to Section 5(a) include (i) a transfer not involving a
change in beneficial ownership, or (ii) transactions involving the distribution without consideration of Securities by any Holder to (x) a parent, subsidiary or other affiliate of a Holder that is a corporation or limited liability
company, (y) any of the Holder’s partners, members or other equity owners, or retired partners or members, or to the estate of any of its partners, members or other equity owners or retired partners or members, or (z) a venture
capital fund or asset manager that is controlled by or under common control with one or more general partners or managing members of, or shares the same management company with, the Holder; provided, in each case, that the Holder shall give
written notice to the Company of the Holder’s intention to effect such disposition and shall have furnished the Company with a detailed description of the manner and circumstances of the proposed disposition. 

(c) Investment Representation Statement. Unless the rights under this Warrant are exercised pursuant to an effective
registration statement under the Securities Act that includes the Shares with respect to which the Warrant was exercised, it shall be a condition to any exercise of the rights under this Warrant that the Holder shall have confirmed to the
satisfaction of the Company in writing, substantially in the form of Exhibit A-1, that the Shares so purchased are being acquired solely for the Holder’s own account and not as a nominee for any
other party, for investment and not with a view toward distribution or resale and that the Holder shall have confirmed such other matters related thereto as may be reasonably requested by the Company. 

  
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 (d) Securities Law Legend. Each certificate, instrument or book entry
representing the Securities shall (unless otherwise permitted by the provisions of this Warrant) be notated with a legend substantially similar to the following (in addition to any legend required by state securities laws): 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE
SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS IN ACCORDANCE WITH APPLICABLE REGISTRATION
REQUIREMENTS OR AN EXEMPTION THEREFROM. THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY
APPLICABLE STATE SECURITIES LAWS. THIS CERTIFICATE MUST BE SURRENDERED TO THE COMPANY OR ITS TRANSFER AGENT AS A CONDITION PRECEDENT TO THE SALE, TRANSFER, PLEDGE OR HYPOTHECATION OF ANY INTEREST IN ANY OF THE SECURITIES REPRESENTED HEREBY. 

(e) Market Stand-off Legend. Each certificate, instrument or book entry representing the
Shares and Common Stock issued upon exercise hereof shall also be notated with a legend in substantially the following form: 
 THE
SECURITIES REPRESENTED HEREBY ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE, INCLUDING A LOCK-UP PERIOD IN THE EVENT OF A PUBLIC OFFERING, AS SET FORTH IN THE WARRANT PURSUANT TO WHICH THESE SHARES
WERE ISSUED, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE COMPANY. 
 (f) Instructions Regarding Transfer
Restrictions. The Holder consents to the Company making a notation on its records and giving instructions to any transfer agent in order to implement the restrictions on transfer established in this Section 5. 

(g) Removal of Legend. The legend referring to federal and state securities laws identified in Section 5(d) notated on any
certificate evidencing the Shares and the stock transfer instructions and record notations with respect to such securities shall be removed, and the Company shall issue a certificate without such legend to the holder of such securities (to the
extent the securities are certificated), if (i) such securities are registered under the Securities Act, or (ii) such holder provides the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a sale or
transfer of such securities may be made without registration, qualification or legend. 
 (h) No Transfers to Bad Actors; Notice of
Bad Actor Status. The Holder agrees not to sell, assign, transfer, pledge or otherwise dispose of any securities of the Company, or any beneficial interest therein, to any person (other than the Company) unless and until the proposed
transferee confirms to the reasonable satisfaction of the Company that neither the proposed transferee nor any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general
partners or managing members nor any person that would be deemed a beneficial owner of those securities (in accordance with Rule 506(d) of the Securities Act) is subject to any of the “bad actor” disqualifications described in
Rule 506(d)(1)(i) through (viii) under the Securities Act, except as set forth in Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed, reasonably in advance of the transfer, in writing in reasonable
detail to the Company. The Holder will promptly notify the Company in writing if the Holder or, to the Holder’s knowledge, any person specified in Rule 506(d)(1) under the Securities Act becomes subject to any of the “bad actor”
disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act. 

  
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 6. Adjustments. Subject to the expiration of this Warrant pursuant to Section 8,
the number and kind of shares purchasable hereunder and the Exercise Price therefor are subject to adjustment from time to time, as follows: 

(a) Merger or Reorganization. If at any time there shall be any reorganization, recapitalization, merger or consolidation (a
“Reorganization”) involving the Company (other than as otherwise provided for herein or as would cause the expiration of this Warrant under Section 8) in which shares of the Company’s stock are converted into or
exchanged for securities, cash or other property, then, as a part of such Reorganization, lawful provision shall be made so that the Holder shall thereafter be entitled to receive upon exercise of this Warrant, the kind and amount of securities,
cash or other property of the successor corporation resulting from such Reorganization, equivalent in value to that which a holder of the Shares deliverable upon exercise of this Warrant would have been entitled in such Reorganization if the right
to purchase the Shares hereunder had been exercised immediately prior to such Reorganization. In any such case, appropriate adjustment (as determined in good faith by the Board of Directors of the successor corporation) shall be made in the
application of the provisions of this Warrant with respect to the rights and interests of the Holder after such Reorganization to the end that the provisions of this Warrant shall be applicable after the event, as near as reasonably may be, in
relation to any shares or other securities deliverable after that event upon the exercise of this Warrant. 
 (b) Reclassification of
Shares. If the securities issuable upon exercise of this Warrant are changed into the same or a different number of securities of any other class or classes by reclassification, capital reorganization or otherwise (other than as otherwise
provided for herein) (a “Reclassification”), then, in any such event, in lieu of the number of Shares which the Holder would otherwise have been entitled to receive, the Holder shall have the right thereafter to exercise this
Warrant for a number of shares of such other class or classes of stock that a holder of the number of securities deliverable upon exercise of this Warrant immediately before that change would have been entitled to receive in such Reclassification,
all subject to further adjustment as provided herein with respect to such other shares. 
 (c) Subdivisions and Combinations.
In the event that the outstanding shares of Common Stock are subdivided (by stock split, by payment of a stock dividend or otherwise) into a greater number of shares of such securities, the number of Shares issuable upon exercise of the rights under
this Warrant immediately prior to such subdivision shall, concurrently with the effectiveness of such subdivision, be proportionately increased, and the Exercise Price shall be proportionately decreased, and in the event that the outstanding shares
of Common Stock are combined (by reclassification or otherwise) into a lesser number of shares of such securities, the number of Shares issuable upon exercise of the rights under this Warrant immediately prior to such combination shall, concurrently
with the effectiveness of such combination, be proportionately decreased, and the Exercise Price shall be proportionately increased. 
 (d)
Notice of Adjustments. Upon any adjustment in accordance with this Section 6, the Company shall give notice thereof to the Holder, which notice shall state the event giving rise to the adjustment, the Exercise Price as adjusted
and the number of securities or other property purchasable upon the exercise of the rights under this Warrant, setting forth in reasonable detail the method of calculation of each. The Company shall, upon the written request of any Holder, furnish
or cause to be furnished to such Holder a certificate setting forth (i) such adjustments, (ii) the Exercise Price at the time in effect and (iii) the number of securities and the amount, if any, of other property that at the time
would be received upon exercise of this Warrant. 

  
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 7. Notification of Certain Events. Prior to the expiration of this Warrant pursuant
to Section 8, in the event that the Company shall authorize: 
 (a) the issuance of any dividend or other distribution on the capital
stock of the Company (other than (i) dividends or distributions otherwise provided for in Section 6, (ii) repurchases of Common Stock issued to or held by employees, officers, directors or consultants of the Company or its
subsidiaries upon termination of their employment or services pursuant to agreements providing for the right of said repurchase; (iii) repurchases of Common Stock issued to or held by employees, officers, directors or consultants of the Company
or its subsidiaries pursuant to rights of first refusal or first offer contained in agreements providing for such rights; or (iv) repurchases of capital stock of the Company in connection with the settlement of disputes with any stockholder),
whether in cash, property, stock or other securities; 
 (b) the voluntary liquidation, dissolution or winding up of the Company; or 

(c) any transaction resulting in the expiration of this Warrant pursuant to Section 8(b) or 8(c); 

the Company shall send to the Holder of this Warrant at least five (5) days prior written notice of the date on which a record shall be taken for any
such dividend or distribution specified in clause (a) or the expected effective date of any such other event specified in clause (b) or (c), as applicable. The notice provisions set forth in this section may be shortened or waived
prospectively or retrospectively by the consent of the holders of a majority of the Shares issuable upon exercise of the rights under the Common Stock Warrants (as defined in the Purchase Agreement). 

8. Expiration of the Warrant. This Warrant shall expire and shall no longer be exercisable as of the earlier of: 

(a) 5:00 p.m., Pacific time, on July 26, 2028; 

(b) (i) the acquisition of the Company by another entity by means of any transaction or series of related transactions to which the Company is
a party (including, without limitation, any stock acquisition, reorganization, merger or consolidation, but excluding any sale of stock for capital raising purposes and any transaction effected primarily for purposes of changing the Company’s
jurisdiction of incorporation) other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction or series of related transactions retain,
immediately after such transaction or series of transactions, as a result of shares in the Company held by such holders prior to such transaction or series of transactions, at least a majority of the total voting power represented by the outstanding
voting securities of the Company or such other surviving or resulting entity (or if the Company or such other surviving or resulting entity is a wholly-owned subsidiary immediately following such acquisition, its parent), or (ii) a sale, lease
or other disposition of all or substantially all of the assets of the Company and its subsidiaries taken as a whole by means of any transaction or series of related transactions, except where such sale, lease or other disposition is to a
wholly-owned subsidiary of the Company; or 
 (c) immediately prior to the closing of a firm commitment underwritten initial public offering
pursuant to an effective registration statement filed under the Securities Act covering the offering and sale of the Company’s Common Stock. 

9. No Rights as a Stockholder. Nothing contained herein shall entitle the Holder to any rights as a stockholder of the Company or to be
deemed the holder of any securities that may at any time be issuable on the exercise of the rights hereunder for any purpose nor shall anything contained herein be construed to confer upon the Holder, as such, any right to vote for the election of
directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action (whether upon any recapitalization, issuance of stock, reclassification of stock, change of par value or change of
stock to no par value, consolidation, merger, conveyance or otherwise) or to receive notice of meetings, or to receive dividends 

  
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or subscription rights or any other rights of a stockholder of the Company until the rights under the Warrant shall have been exercised and the Shares purchasable upon exercise of the rights
hereunder shall have become deliverable as provided herein. 
 10. Market Stand-off. The
Holder of this Warrant hereby agrees that such Holder will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the Company’s first underwritten public
offering of its Common Stock under the Securities Act of 1933, as amended (the “IPO”), and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days
in the case of the IPO), or such other period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports and (2) analyst recommendations and
opinions, including, but not limited to, the restrictions contained in FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to
purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or
exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of the registration statement for such offering or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part,
any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing
provisions of this Section 10 shall apply only to the IPO, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or the transfer of any shares to any trust for the direct or indirect benefit of the
Holder or the immediate family of the Holder, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value, and shall
be applicable to the Holders only if all officers, directors and stockholders individually owning more than two percent (2%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all outstanding
Preferred Stock) are subject to the same restrictions. The underwriters in connection with such registration are intended third party beneficiaries of this Section 10 and shall have the right, power and authority to enforce the provisions
hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 10 or that are
necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Holders subject to such agreements, based on the
number of shares subject to such agreements. The obligations described in this section shall not apply to a registration relating solely to employee benefit plans on Form S-l or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4 or similar forms that may be promulgated in the
future. The Company may impose stop-transfer instructions and may notate each such certificate, instrument or book entry with a legend as substantially set forth in Section 5(e) with respect to the shares of Common Stock (or other securities)
subject to the foregoing restriction until the end of such one hundred eighty (180) day (or other) period. 
 11.
Representations and Warranties of the Holder. By acceptance of this Warrant, the Holder represents and warrants to the Company as follows: 

(a) No Registration. The Holder understands that the Securities have not been, and will not be, registered under the Securities
Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Holder’s
representations as expressed herein or otherwise made pursuant hereto. 

  
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 (b) Investment Intent. The Holder is acquiring the Securities for investment
for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Holder has no present intention of selling, granting any participation in, or otherwise distributing the
Securities, nor does it have any contract, undertaking, agreement or arrangement for the same. 
 (c) Investment Experience.
The Holder has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of
evaluating the merits and risks of its investment in the Company and protecting its own interests. 
 (d) Speculative Nature of
Investment. The Holder understands and acknowledges that the Company has a limited financial and operating history and that its investment in the Company is highly speculative and involves substantial risks. The Holder can bear the economic
risk of its investment and is able, without impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of its investment. 

(e) Access to Data. The Holder has had an opportunity to ask questions of officers of the Company, which questions were answered
to its satisfaction. The Holder believes that it has received all the information that it considers necessary or appropriate for deciding whether to acquire the Securities. The Holder understands that any such discussions, as well as any information
issued by the Company, were intended to describe certain aspects of the Company’s business and prospects, but were not necessarily a thorough or exhaustive description. The Holder acknowledges that any business plans prepared by the Company
have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will
not materialize or will vary significantly from actual results. 
 (f) Accredited Investor. The Holder is an “accredited
investor” within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission and agrees to submit to the Company such further assurances of such status as may be reasonably requested by the Company.
The Holder has furnished or made available any and all information requested by the Company or otherwise necessary to satisfy any applicable verification requirements as to “accredited investor” status. Any such information is true,
correct, timely and complete. 
 (g) Residency. The residency of the Holder (or, in the case of a partnership or corporation,
such entity’s principal place of business) is correctly set forth on the signature page hereto. 
 (h) Restrictions on
Resales. The Holder acknowledges that the Securities must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. The Holder is aware of the provisions of
Rule 144 promulgated under the Securities Act, which permit resale of shares purchased in a private placement subject to the satisfaction of certain conditions, which may include, among other things, the availability of certain current public
information about the Company; the resale occurring not less than a specified period after a party has purchased and paid for the security to be sold; the number of shares being sold during any three-month period not exceeding specified limitations;
the sale being effected through a “broker’s transaction,” a transaction directly with a “market maker” or a “riskless principal transaction” (as those terms are defined in the Securities Act or the Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder); and the filing of a Form 144 notice, if applicable. The Holder acknowledges and understands that the Company may not be satisfying the current public
information requirement of Rule 144 at the time the Holder wishes to sell the Securities and that, in such event, the Holder may be precluded from selling the Securities under Rule 144 even if the other applicable requirements of
Rule 144 have been satisfied. The Holder acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or an exemption from registration

  
 - 10 - 

 
will be required for any disposition of the Securities. The Holder understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has expressed its opinion that
persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available
for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk. 
 (i) No
Public Market. The Holder understands and acknowledges that no public market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company’s
securities. 
 (j) Brokers and Finders. The Holder has not engaged any brokers, finders or agents in connection with the
Securities, and the Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Holder, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection
with the Securities. 
 (k) Legal Counsel. The Holder has had the opportunity to review this Warrant, the exhibits and
schedules attached hereto and the transactions contemplated by this Warrant with its own legal counsel. The Holder is not relying on any statements or representations of the Company or its agents for legal advice with respect to this investment or
the transactions contemplated by this Warrant. 
 (l) Tax Advisors. The Holder has reviewed with its own tax advisors the U.S.
federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by this Warrant. With respect to such matters, the Holder relies solely on any such advisors and not
on any statements or representations of the Company or any of its agents, written or oral. The Holder understands that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment and the
transactions contemplated by this Warrant. 
 (m) No “Bad Actor”
Disqualification. Neither (i) the Holder, (ii) any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members,
nor (iii) any beneficial owner of any of the Company’s voting equity securities (in accordance with Rule 506(d) of the Securities Act) held by the Holder is subject to any of the “bad actor” disqualifications described in
Rule 506(d)(1)(i) through (viii) under the Securities Act, except as set forth in Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed, reasonably in advance of the acceptance of this Warrant, in writing
in reasonable detail to the Company. 
 12. Miscellaneous. 

(a) Amendments. Except as expressly provided herein, neither this Warrant nor any term hereof may be amended, waived, discharged
or terminated other than by a written instrument referencing this Warrant and signed by the Company and the holders of warrants representing not less than a majority of the Shares issuable upon exercise of any and all outstanding Common Stock
Warrants, which majority does not need to include the consent of the Holder. Any amendment, waiver, discharge or termination effected in accordance with this Section 12(a) shall be binding upon each holder of the Common Stock Warrants, each
future holder of such Common Stock Warrants and the Company; provided, however, that no special consideration or inducement may be given to any such holder in connection with such consent that is not given ratably to all such holders, and
that such amendment must apply to all such holders equally and ratably in accordance with the number of shares of Common Stock issuable upon exercise of the Common Stock Warrants. The Company shall promptly give notice to all holders of Common Stock
Warrants of any amendment effected in accordance with this Section 12(a). 

  
 - 11 - 

 (b) Waivers. No waiver of any single breach or default shall be deemed a
waiver of any other breach or default theretofore or thereafter occurring. 
 (c) Notices. All notices and other
communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to the Holder) or otherwise delivered by hand, messenger or courier
service addressed: 
 (i) if to the Holder, to the Holder at the Holder’s address, facsimile number or electronic mail address as
shown in the Company’s records, as may be updated in accordance with the provisions hereof, or until any such Holder so furnishes an address, facsimile number or electronic mail address to the Company, then to and at the address, facsimile
number or electronic mail address of the last holder of this Warrant for which the Company has contact information in its records; or 

(ii) if to the Company, to the attention of the President, Chief Business Officer or Chief Financial Officer of the Company at the
Company’s address as shown on the signature page hereto, or at such other current address as the Company shall have furnished to the Holder, with a copy (which shall not constitute notice) to Tony Jeffries, Wilson Sonsini Goodrich &
Rosati, P.C., 650 Page Mill Road, Palo Alto, CA 94304. 
 Each such notice or other communication shall for all purposes of this Warrant be
treated as effective or having been given (i) if delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying
next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt or five days after the same has been deposited in a
regularly-maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid, or (iii) if sent via facsimile, upon confirmation of facsimile transfer or, if sent via electronic mail, upon confirmation of delivery
when directed to the relevant electronic mail address, if sent during normal business hours of the recipient, or if not sent during normal business hours of the recipient, then on the recipient’s next business day. In the event of any conflict
between the Company’s books and records and this Warrant or any notice delivered hereunder, the Company’s books and records will control absent fraud or error. 

(d) Governing Law. This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and
construed in accordance with the laws of the State of California, without regard to the conflicts of law provisions of the State of California, or of any other state. 

(e) Jurisdiction and Venue. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the
state courts of California and to the jurisdiction of the United States District Court for the District of Northern California for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to
commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of California or the United States District Court for the District of Northern California, and (c) hereby waive, and
agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such
court. 
 (f) Titles and Subtitles. The titles and subtitles used in this Warrant are used for convenience only and are not to
be considered in construing or interpreting this Warrant. All references in this Warrant to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. 

  
 - 12 - 

 (g) Severability. If any provision of this Warrant becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Warrant, and such illegal, unenforceable or void provision shall
be replaced with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, unenforceable or void provision. The balance of this Warrant shall be enforceable in
accordance with its terms. 
 (h) Waiver of Jury Trial. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING
OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND
STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH
ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
 The prevailing
party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled. Each of the parties to this Agreement consents to personal jurisdiction for any
equitable action sought in the U.S. District Court for the District of Northern California or any court of the State of California having subject matter jurisdiction. 

(i) California Corporate Securities Law. THE SALE OF THE SECURITIES THAT ARE THE
SUBJECT OF THIS WARRANT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS
UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102, OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS WARRANT ARE EXPRESSLY CONDITIONED UPON THE QUALIFICATION BEING
OBTAINED, UNLESS THE SALE IS SO EXEMPT. 
 (j) Rights and Obligations Survive Exercise of the Warrant. Except as otherwise
provided herein, the rights and obligations of the Company and the Holder under this Warrant shall survive exercise of this Warrant. 
 (k)
Entire Agreement. Except as expressly set forth herein, this Warrant (including the exhibits attached hereto) constitutes the entire agreement and understanding of the Company and the Holder with respect to the subject matter hereof
and supersede all prior agreements and understandings relating to the subject matter hereof. 
 (signature page follows) 

  
 - 13 - 

 The Company and the Holder sign this Warrant as of the date stated on the first page. 

 

			
	BOLT BIOTHERAPEUTICS, INC.

 
			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

			
	AGREED AND ACKNOWLEDGED,

			
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 (Signature Page to Warrant to Purchase Shares Common Stock of Bolt Biotherapeutics,
Inc.) 

 EXHIBIT A 

NOTICE OF EXERCISE 
  

	TO:	 BOLT BIOTHERAPEUTICS, INC. (the “Company”) 

 

	Attention:	 Chief Business Officer 

 

	(1)	 Exercise. The undersigned elects to purchase the following pursuant to the terms of the attached
warrant: 

  

			
	Number of shares:	 	  

		
	Type of security:	 	  

  

	(2)	 Method of Exercise. The undersigned elects to exercise the attached warrant pursuant to:

  

			
	☐	  	A cash payment, and tenders herewith payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any.
		
	☐	  	The net issue exercise provisions of Section 2(b) of the attached warrant.

  

	(3)	 Conditional Exercise. Is this a conditional exercise pursuant to Section 2(e):

  

									
	☐	  	Yes	  		  	☐	  	No

 If “Yes,” indicate the applicable condition: 

 

	
	  

  

	(4)	 Stock. Please make a book entry and, if the shares are certificated, issue a certificate or certificates
representing the shares in the name of: 

  

					
	☐	  	The undersigned	  	
			
	☐	  	Other—Name:	  	  

			
		  	 Address:
	  	  

			
		  		  	  

  

	(5)	 Unexercised Portion of the Warrant. Please issue a new warrant for the unexercised portion of the
attached warrant in the name of: 

  

					
	☐	  	The undersigned	  	
			
	☐	  	Other—Name:	  	  

			
		  	 Address:
	  	  

			
		  		  	  

			
	☐	  	Not applicable	  	

  
 A-1 

	(6)	 Investment Intent. The undersigned represents and warrants that the aforesaid shares are being acquired
for investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that the undersigned has no present intention of selling, granting any participation in, or
otherwise distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties of the undersigned set forth in Section 11 of the attached warrant are true and correct
as of the date hereof. 

  

	(7)	 Investment Representation Statement and Market Stand-Off
Agreement. The undersigned has executed, and delivers herewith, an Investment Representation Statement and Market Stand-Off Agreement in a form substantially similar to the form attached to the warrant as
Exhibit A-1. 

  

	(8)	 Consent to Receipt of Electronic Notice. Subject to the limitations set forth in Delaware General
Corporation Law §232(e), the undersigned consents to the delivery of any notice to stockholders given by the Company under the Delaware General Corporation Law or the Company’s certificate of incorporation or bylaws by (i) facsimile
telecommunication to the facsimile number provided below (or to any other facsimile number for the undersigned in the Company’s records), (ii) electronic mail to the electronic mail address provided below (or to any other electronic mail
address for the undersigned in the Company’s records), (iii) posting on an electronic network together with separate notice to the undersigned of such specific posting or (iv) any other form of electronic transmission (as defined in the
Delaware General Corporation Law) directed to the undersigned. This consent may be revoked by the undersigned by written notice to the Company and may be deemed revoked in the circumstances specified in Delaware General Corporation Law §232.

  

	
	  

	(Print name of the warrant holder)
	
	  

	(Signature)
	
	  

	(Name and title of signatory, if applicable)
	
	  

	(Date)
	
	  

	(Fax number)
	
	  

	(Email address)

 (Signature page to the Notice of Exercise) 

  
 A-2 

 EXHIBIT A-l 

INVESTMENT REPRESENTATION STATEMENT 

AND 
 MARKET STAND-OFF AGREEMENT 
  

					
	INVESTOR:	  	  
	  	

  

			
	COMPANY:	  	BOLT BIOTHERAPEUTICS, INC.
		
	SECURITIES:	  	THE WARRANT ISSUED ON JULY 26, 2018 (THE “WARRANT”) AND THE SECURITIES ISSUED OR ISSUABLE UPON EXERCISE THEREOF

 

					
	DATE:	  	  
	  	

 In connection with the purchase or acquisition of the above-listed Securities, the undersigned Investor
represents and warrants to, and agrees with, the Company as follows: 
 1. No Registration. The Investor understands that the
Securities have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act, the
availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the Investor’s representations as expressed herein or otherwise made pursuant hereto. 

2. Investment Intent. The Investor is acquiring the Securities for investment for its own account, not as a
nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Investor has no present intention of selling, granting any participation in, or otherwise distributing the Securities, nor does it have any
contract, undertaking, agreement or arrangement for the same. 
 3. Investment Experience. The Investor has substantial
experience in evaluating and investing in private placement transactions of securities in companies similar to the Company, and has such knowledge and experience in financial or business matters so that it is capable of evaluating the merits and
risks of its investment in the Company and protecting its own interests. 
 4. Speculative Nature of Investment. The Investor
understands and acknowledges that the Company has a limited financial and operating history and that its investment in the Company is highly speculative and involves substantial risks. The Investor can bear the economic risk of its investment and is
able, without impairing its financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of its investment. 

5. Access to Data. The Investor has had an opportunity to ask questions of officers of the Company, which questions were answered to
its satisfaction. The Investor believes that it has received all the information that it considers necessary or appropriate for deciding whether to acquire the Securities. The Investor understands that any such discussions, as well as any
information issued by the Company, were intended to describe certain aspects of the Company’s business and prospects, but were not necessarily a thorough or exhaustive description. The Investor acknowledges that any business plans prepared by
the Company have been, and continue to be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the
projections will not materialize or will vary significantly from actual results. 

  
 A-1-1 

 6. Accredited Investor. The Investor is an “accredited investor”
within the meaning of Regulation D, Rule 501(a), promulgated by the Securities and Exchange Commission and agrees to submit to the Company such further assurances of such status as may be reasonably requested by the Company. The Investor
has furnished or made available any and all information requested by the Company or otherwise necessary to satisfy any applicable verification requirements as to “accredited investor” status. Any such information is true, correct, timely
and complete. 
 7. Residency. The residency of the Investor (or, in the case of a partnership or corporation, such
entity’s principal place of business) is correctly set forth on the signature page hereto. 
 8. Restrictions on Resales.
The Investor acknowledges that the Securities must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. The Investor is aware of the provisions of Rule 144 promulgated
under the Securities Act, which permit resale of shares purchased in a private placement subject to the satisfaction of certain conditions, which may include, among other things, the availability of certain current public information about the
Company; the resale occurring not less than a specified period after a party has purchased and paid for the security to be sold; the number of shares being sold during any three-month period not exceeding specified limitations; the sale being
effected through a “broker’s transaction,” a transaction directly with a “market maker” or a “riskless principal transaction” (as those terms are defined in the Securities Act or the Securities Exchange Act of
1934, as amended, and the rules and regulations promulgated thereunder); and the filing of a Form 144 notice, if applicable. The Investor acknowledges and understands that the Company may not be satisfying the current public information requirement
of Rule 144 at the time the Investor wishes to sell the Securities and that, in such event, the Investor may be precluded from selling the Securities under Rule 144 even if the other applicable requirements of Rule 144 have been
satisfied. The Investor understands and acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or an exemption from registration will be required for any disposition of the
Securities. The Investor understands that, although Rule 144 is not exclusive, the Securities and Exchange Commission has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a
registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for those offers or sales and that those persons and the brokers who participate in the
transactions do so at their own risk. 
 9. No Public Market. The Holder understands and acknowledges that no public market now
exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company’s securities. 

10. Brokers and Finders. The Investor has not engaged any brokers, finders or agents in connection with the Securities,
and the Company has not incurred nor will incur, directly or indirectly, as a result of any action taken by the Investor, any liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with the
Securities. 
 11. Legal Counsel. The Investor has had the opportunity to review the Warrant, the exhibits and schedules
attached thereto and the transactions contemplated by the Warrant with its own legal counsel. The Investor is not relying on any statements or representations of the Company or its agents for legal advice with respect to this investment or the
transactions contemplated by the Warrant. 
 12. Tax Advisors. The Investor has reviewed with its own tax advisors the
U.S. federal, state and local and non-U.S. tax consequences of this investment and the transactions contemplated by the Warrant. With 

  
 A-1-2 

 
respect to such matters, the Investor relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral. The Investor understands
that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated by the Warrant. 

13. Market Stand-off. The Investor agrees that the Investor shall not sell or otherwise
transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, of any common stock (or other securities) of the Company held by the Investor (other
than those included in the registration) during the one hundred eighty (180) day period following the effective date of the registration statement for the Company’s initial public offering filed under the Securities Act (or such other
period as may be requested by the Company or an underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited
to, the restrictions contained in NYSE Rule 472(f)(4), or any successor provisions or amendments thereto). The obligations described in this section shall not apply to a registration relating solely to employee benefit plans on Form S-l or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a transaction on Form S-4
or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions and may notate each such certificate, instrument or book entry with a legend with respect to the shares of common stock (or other securities)
subject to the foregoing restriction until the end of such one hundred eighty (180) day (or other) period. The Investor agrees to execute a market stand-off agreement with the relevant underwriters in
customary form consistent with the provisions of this section. 
 14. No “Bad Actor”
Disqualification. Neither (i) the Investor, (ii) any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members, nor
(iii) any beneficial owner of any of the Company’s voting equity securities (in accordance with Rule 506(d) of the Securities Act) held by the Investor is subject to any of the “bad actor” disqualifications described in
Rule 506(d)(1)(i) through (viii) under the Securities Act, except as set forth in Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed, reasonably in advance of the purchase or acquisition of the
Securities, in writing in reasonable detail to the Company. 
 (signature page follows) 

  
 A-1-3 

 The Investor is signing this Investment Representation Statement and Market Stand-Off Agreement on the date first written above. 
  

	
	INVESTOR
	
	  

	(Print name of the investor)
	
	  

	(Signature)
	
	  

	(Name and title of signatory, if applicable)
	
	  

	(Street address)
	
	  

	(City, state and ZIP)

  
 A-1-4 

 EXHIBIT B 

ASSIGNMENT FORM 
  

			
	ASSIGNOR:	  	  

		
	COMPANY:	  	BOLT BIOTHERAPEUTICS, INC.
		
	WARRANT:	  	THE WARRANT TO PURCHASE SHARES OF COMMON STOCK ISSUED ON JULY 26, 2018 (THE “WARRANT”)

 

					
	DATE:	  	  
	  	

  

	(1)	 Assignment. The undersigned registered holder of the Warrant (“Assignor”)
assigns and transfers to the assignee named below (“Assignee”) all of the rights of Assignor under the Warrant, with respect to the number of shares set forth below: 

 

			
	Name of Assignee:	  	  

		
	Address of Assignee:	  	  

		
		  	  

 

			
	Number of Shares Assigned:	  	  

 and does irrevocably constitute and appoint
                                         as
attorney to make such transfer on the books of Bolt Biotherapeutics, Inc., maintained for the purpose, with full power of substitution in the premises. 
  

	(2)	 Obligations of Assignee. Assignee agrees to take and hold the Warrant and any shares of stock to be
issued upon exercise of the rights thereunder (the “Securities”) subject to, and to be bound by, the terms and conditions set forth in the Warrant to the same extent as if Assignee were the original holder thereof.

  

	(3)	 Investment Intent. Assignee represents and warrants that the Securities are being acquired for
investment for its own account, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and that Assignee has no present intention of selling, granting any participation in, or otherwise
distributing the shares, nor does it have any contract, undertaking, agreement or arrangement for the same, and all representations and warranties set forth in Section 11 of the Warrant are true and correct as to Assignee as of the date hereof.

  

	(4)	 Investment Representation Statement and Market Stand-Off
Agreement. Assignee has executed, and delivers herewith, an Investment Representation Statement and Market Stand-Off Agreement in a form substantially similar to the form attached to the Warrant as Exhibit
A-1. 

  

	(5)	 No “Bad Actor” Disqualification. Neither (i) Assignee, (ii)
any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members, nor (iii) any beneficial owner of any of the Company’s securities
held or to be held by Assignee is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act of 1933, as amended (the “Securities Act”), except as
set forth in Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed, reasonably in advance of the transfer of the Securities, in writing in reasonable detail to the Company. 

  
 - 1 - 

 Assignor and Assignee are signing this Assignment Form on the date first set forth above.

  

					
	ASSIGNOR	 		 	ASSIGNEE
			
	  
	 		 	  

	(Print name of Assignor)	 		 	(Print name of Assignee)
			
	  
	 		 	  

	(Signature of Assignor)	 		 	(Signature of Assignee)
			
	  
	 		 	  

	(Print name of signatory, if applicable)	 		 	(Print name of signatory, if applicable)
			
	  
	 		 	  

	(Print title of signatory, if applicable)	 		 	(Print title of signatory, if applicable)
			
	Address:	 		 	Address:
			
	  
	 		 	  

			
	  
	 		 	  

  
 - 2 -EX-10.10

 Exhibit 10.10 

 
 

 
 June 10, 2019 

Randall C. Schatzman 
  

	 	Re:	 Offer of Employment by Bolt Biotherapeutics, Inc. 

Dear Randy: 
 I am very pleased to offer you
employment with BOLT BIOTHERAPEUTICS, INC. (the “Company”). On and following your Start Date (as defined below), you will report to the Board of Directors of
the Company (the “Board”) in the position of Chief Executive Officer. Following your Start Date, you will also be appointed to the Board as a member, subject to the Company’s charter and bylaws. You will work primarily
from the Company’s offices in Seattle, Washington, provided that the Company reserves the right to require periodic business travel, including travel to the Company’s Bay Area office and other business destinations as reasonably needed to
properly execute your duties. 
 Your employment by the Company shall be governed by the following terms and conditions (this
“Agreement”). 
 1.    Starting Salary and Target Bonus. Commencing on your Start
Date, you will receive an annual base salary of $450,000, which will be paid semi-monthly in accordance with the Company’s normal payroll procedures. You will also be eligible to receive an annual target bonus of up to 40% of your
then-effective annual base salary (the “Performance Bonus”), payable based on the achievement of Milestones (as defined below). This Performance Bonus will be paid as soon as practicable after the Board determines, in its
sole discretion, that the applicable Milestones have been achieved, which date shall not be later than 90 days after the end of the calendar year following the applicable bonus year, subject to your continued employment through the date of payment.
For purposes of this Agreement, “Milestones” means certain annual performance milestones or objectives as agreed by and between you and the Board on an annual basis. Your salary and Performance Bonus will be subject to review
and adjustments may be made based on the Company’s normal performance review practices and applicable law. 

2.    Benefits. You will be eligible to participate in regular health insurance and other employee benefit
plans as may be established by the Company for its employees from time to time. You also will be entitled to up to one hundred and twenty (120) hours of vacation time and forty (40) hours of sick time during the calendar year, in
accordance with the Company’s policies. The amount of vacation/PTO time available to you during your first year is determined by proration based on the number of full months of employment completed by you during that year. 

Bolt Biotherapeutics Inc. _ CEO Candidate Offer Letter (Final)_palib2_98.._ (002) 

| www.boltbio.com  |  1640 Galveston Drive  |  Redwood
City  |  CA  |  94063 | 

 You should note that the Company may modify job titles, salaries and benefits from time to
time as it deems necessary. 
 3.    Expenses. 

(a)    The Company will reimburse you for reasonable travel, entertainment and other expenses incurred by you in
furtherance of or in connection with the performance of your duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. You are responsible for the itemization and submission of all receipts
and records of such expenses for reimbursement. 
 (b)    Travel and Lodging Allowance. The Company will
reimburse you for reasonable expenses (including hotel accommodations or corporate housing) in the Bay Area, as well as related reasonable travel between Seattle, Washington and California, in a combined maximum gross amount of $15,000 per month
(“Travel and Lodging Expenses”). The Company shall reimburse such Travel and Lodging Expenses within thirty (30) days of receipt of an invoice or other documentation that complies with Company policies. The Company will
determine in its reasonable, good faith judgment what, if any, of your reimbursed Travel and Lodging Expenses are for nondeductible expenses in accordance with applicable law and will comply with associated withholding and tax reporting obligations.
To the extent the Travel and Lodging Expenses is taxable as income to you, the Company will pay you a gross-up payment equal to the Travel and Lodging Expenses actually paid in any given year divided by 0.64,
payable no later than March 1 of the year following payment of the applicable Travel and Lodging Expenses are paid, subject to your continuing service through and including such gross-up payment date,
unless you are terminated by the Company for reasons other than Cause or you resign with Good Reason, in which case the Company will pay a gross-up payment to you on the Travel and Lodging Expenses actually
paid during the applicable year divided by 0.64, payable no later than March 1 of the year following termination (unless you are terminated prior to March 1 in any calendar year, in which case such amount shall be paid by March 1 of
the calendar year of termination). For the avoidance of doubt, to the extent that any reimbursements payable to you pursuant to this Section 3(b) are subject to the provisions of Section 409A of the Code: (a) any such reimbursements
will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and
(c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 

4.    Confidentiality. As an employee of the Company, you will have access to certain confidential
information of the Company and you may, during the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of the Company, you will need to sign the Company’s
standard “Employee Invention Assignment and Confidentiality Agreement” (the “Confidential Information Agreement”) as a condition of your employment. We wish to impress upon you that we do not want you to, and we
hereby direct you not to, bring with you any confidential or proprietary material of any former employer or to violate any other obligations you may have to any former employer. During the period that you render services to the Company, you agree to
not engage in any employment, business or activity that is in any way competitive with the business or proposed business of the Company. 

5.    No Breach of Obligations to Prior Employers. You represent that your signing of this Agreement and the
Company’s Confidential Information Agreement and your commencement of employment with the Company will not violate any agreement currently in place between yourself and current or past employers. 

6.    Other Activities. We will recommend to the Board that you be permitted to serve as a member of the
board of directors (other than in the role of chairman of the board) of up to two corporations that are not related to or competitive with the Company subject to the approval of the Board, which approval is granted for Zymeworks. Notwithstanding the
foregoing, during the period of your employment you agree that you will at all times devote your best efforts to the interests of the Company, and you will not, without the prior written consent of the Board, engage in, or encourage or assist others
to engage in, any 

 
employment or activity that would (a) divert from the Company any business opportunity related to the business of the Company in which the Company can reasonably be expected to have an
interest; (b) directly compete with, or involve preparation to compete with, the business of the Company; (c) cause a disruption of the Company’s operations or prospects; or (d) result in you devoting less time and attention as
is necessary to fulfill your obligations to the Company; provided, however, that you may be a passive investor or engage in civic and not-for-profit
activities so long as such activities do not materially interfere with your performance of your duties hereunder. 

7.    Options. In addition, if you decide to join the Company, it will be recommended at the first meeting
of the Board following your Start Date that the Company grant you an early exercisable option (the “Option”) to purchase shares of the Company’s Common Stock equal to 5.25% of total shares of the Company’s Common
Stock outstanding on a fully diluted basis after taking into account the anticipated final closing of the Company’s Series B preferred stock financing, at a price per share equal to the fair market value per share of the Common Stock on the
date of grant, as determined by the Board. The Option shall be subject to the terms and conditions of the Company’s Amended and Restated 2015 Equity Incentive Plan (the “Equity Plan”) and a stock option agreement
thereunder, including vesting requirements, provided that the Company’s expectation is that, subject to the acceleration provisions set at the end of this Section 7, the Option shall vest monthly over four (4) years in equal
installments, subject to a one (1) year cliff, provided you continue to provide services to the Company through each vesting date. Upon the closing of an Acquisition (as such term is defined in the Equity Plan), subject to your continued
employment through the date of such closing, all outstanding and unvested Company equity awards you hold, including the Option, will accelerate and be deemed fully vested and exercisable as of immediately prior to the Acquisition (the
“Accelerated Vesting”). 
 8.    Termination of Employment; Severance. 

(a)    At Will Employment. While we look forward to a long and profitable relationship, should you decide to
accept our offer, you will be an at-will employee of the Company, which means the employment relationship can be terminated by either of us for any reason, at any time, with or without prior notice and with or
without cause. Any statements or representations to the contrary (and, indeed, any statements contradicting any provision in this Agreement) should be regarded by you as ineffective. 

(b)    Termination Without Cause; Resignation for Good Reason. In the event your employment with the Company
is terminated by the Company other than for Cause (as defined below) and other than as a result of your death or Disability (as defined below), or you resign for Good Reason, then provided such termination constitutes a “separation from
service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a “Separation from Service”), and provided that
you remain in compliance with the terms of this Agreement, the Company shall provide you with the following severance benefits: 

(i)    The Company shall pay you, as severance, (i) twelve (12) months of your base salary in effect as of
the date of your employment termination (the “Cash Severance”), (ii) any Performance Bonus earned for the prior calendar year pursuant to Section 1 that is unpaid as of the date of your employment termination (the
“Unpaid Bonus Payment”) and (iii) if your Separation from Service occurs within the twelve (12) month period following an Acquisition, the prorated amount of your target Performance Bonus that you otherwise would
have been eligible to receive under Section 1 for the year in which your employment was terminated, prorated based on the number of days elapsed in the calendar year prior to your employment termination (the “Bonus
Severance” and with the Cash Severance and the Unpaid Bonus Payment, the “Severance”), in each case subject to standard payroll deductions and withholdings. The Cash Severance will be paid in equal installments
on the Company’s regular payroll schedule over the twelve (12) month period following your Separation from Service and the Unpaid Bonus Payment and Bonus Severance, if any, shall be paid no later than the time bonus compensation for other
senior executive officers of the Company is paid, if any, as determined by the Board for each respective fiscal year (but in no event later than sixty (60) days following December 31 of the year in which the your employment with the
Company terminates); provided, however, that no payments will be made prior to the sixtieth (60th) day following your Separation from Service. 

 (ii)    Provided you timely elect continued coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall reimburse the premiums necessary to continue your group health insurance benefits (including coverage for eligible dependents, if
applicable) under COBRA (such reimbursement, the “COBRA Premiums”) through the period (the “COBRA Premium Period”) starting on your Separation from Service and ending on the earliest to occur of:
(i) twelve (12) months following your Separation from Service; (ii) the date you become eligible for group health insurance coverage through a new employer; or (iii) the date you cease to be eligible for COBRA continuation coverage
for any reason, including plan termination. In the event you become covered under another employer’s group health plan or otherwise cease to be eligible for COBRA during the COBRA Premium Period, you must immediately notify the Company of such
event. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without a substantial risk of violating applicable law (including, without limitation, Section 2716 of the Public
Health Service Act), the Company instead shall pay to you, on the first day of each calendar month, a fully taxable cash payment equal to the applicable COBRA premiums for that month (including premiums for you and your eligible dependents who have
elected and remain enrolled in such COBRA coverage), subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium Period. You may, but are not obligated to, use such
Special Cash Payments toward the cost of COBRA premiums. 
 (c)    Termination for Cause; Resignation Without
Good Reason; Death or Disability. The Company may terminate your employment with the Company at any time for Cause. Further, you may resign at any time without Good Reason. Your employment with the Company may also be terminated due to your
death or disability. 
 (d)    Conditions to Receipt of Severance, COBRA Premiums, Special Cash Payments and
Accelerated Vesting. The receipt of the Severance, COBRA Premiums, Special Cash Payments and Accelerated Vesting will be subject to you signing and not revoking a separation agreement and release of claims in a form satisfactory to the Company
(the “Separation Agreement”) that becomes effective and irrevocable within sixty (60) days following your Separation from Service (such deadline, the “Release Deadline”). No Severance, COBRA
Premiums, Special Cash Payments or Accelerated Vesting will be paid or provided until the Separation Agreement becomes effective. If the Separation Agreement does not become effective and irrevocable by the Release Deadline, you will forfeit any
rights to severance or benefits under this Agreement. Except as required by Section 11, any installment payments that would have been made to you during the sixty (60) day period immediately following your Separation from Service but for
the preceding sentence will be paid to you on the sixtieth (60th) day following your Separation from Service and the remaining payments will be made as provided in this Agreement. 

(e)    You shall also resign from all positions and terminate any relationships as an employee, advisor, officer or
director with the Company and any of its affiliates, each effective on the date of termination. 

(f)    Definitions. 

(i)    Cause. For purposes of this Agreement, “Cause” for termination will mean:
(a) your commission of any felony or crime involving dishonesty; (b) your participation in any fraud against the Company; (c) your material breach of your duties to the Company; (d) your persistent unsatisfactory performance of
job duties after written notice from the Board and a reasonable opportunity to cure (if deemed curable); (e) your intentional damage to any property of the Company; (f) your gross misconduct; (g) your violation of Company policy that
causes material harm to the Company; or (h) your material breach of any written agreement with the Company. 

(ii)    Good Reason. For purposes of this Agreement, you shall have “Good Reason”
for resignation from employment with the Company if any of the following actions are taken by the Company without your prior written consent: (a) a material reduction in your base salary (unless pursuant to a salary reduction program applicable
generally to the Company’s similarly situated employees); (b) a material reduction in your duties (including responsibilities and/or authorities); or (c) relocation of your 

 
principal place of employment to a place that increases your one-way commute by more than twenty-five (25) miles as compared to your then-current
principal place of employment immediately prior to such relocation. In order to resign for Good Reason, you must provide written notice to the Company’s Board within 60 days after the first occurrence of the event giving rise to Good Reason
setting forth the basis for your resignation, allow the Company at least 30 days from receipt of such written notice to cure such event, and if such event is not reasonably cured within such period, you must resign from all positions you then hold
with the Company not later than 90 days after the expiration of the cure period. 
 (iii)    Disability.
For purposes of this Agreement, “Disability” means your inability 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
can be expected to last for a continuous period of not less than twelve (12) months. 

9.    Authorization to Work. Please note that because of employer regulations adopted in the Immigration
Reform and Control Act of 1986, within three (3) business days of starting your new position you will need to present documentation demonstrating that you have authorization to work in the United States. 

10.    Arbitration. You and the Company agree to submit to mandatory binding arbitration of any and all
claims arising out of or related to your employment with the Company and the termination thereof pursuant to the terms of the Confidential Information Agreement, including, but not limited to, claims for unpaid wages, wrongful termination, torts,
stock or stock options or other ownership interest in the Company, and/or discrimination (including harassment) based upon any federal, state or local ordinance, statute, regulation or constitutional provision (collectively, “Arbitrable
Claims”). The parties agree to arbitrate all Arbitrable Claims in King County, Washington through JAMS pursuant to the terms of the Confidential Information Agreement. 

11.    Section 409A. Notwithstanding anything else provided herein, to the extent any payments provided
under this Agreement in connection with your termination of employment constitute deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and any guidance promulgated thereunder
and any applicable state law requirements (“Section 409A”), and you are deemed at the time of such termination of employment to be a “specified employee” under Section 409A,
then such payment shall not be made or commence until the earlier of (i) the expiration of the six (6)-month period measured from your separation from service from the Company or any successor or (ii) the date of your death following such
a separation from service; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to you including, without limitation, the additional tax for which you would otherwise be
liable under Section 409A(a)(1)(B) in the absence of such a deferral. The first payment thereof will include a catch-up payment covering the amount that would have otherwise been paid during the period
between your termination of employment and the first payment date as a result of the application of this provision, and the balance of the installments (if any) will be payable in accordance with their original schedule. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A, the provision will be read in such a manner so that all payments hereunder comply with Section 409A. To the extent any payment under this Agreement may be
classified as a “short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of
Section 409A. Payments pursuant to this Agreement are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. In no event will the Company or any
successor be responsible for or have any obligation to reimburse you for any taxes that may be imposed on you under Section 409A. Notwithstanding anything in this Agreement to the contrary, the Company or any successor reserves the right, in
its sole discretion and without your consent, to take such reasonable actions and make any amendments or interpretations to this Agreement as it deems necessary, advisable or desirable to comply with Section 409A or to otherwise avoid income
recognition under Section 409A or imposition of any additional tax prior to the actual payment of any benefits under this Agreement. 

 12.    Miscellaneous. 

(a)    Notice. Notices and all other communications contemplated by this Agreement shall be in writing and
shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In your case, mailed notices shall be addressed to you at the home address that you
most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 

(b)    Modifications and Waivers. No provision of this Agreement shall be modified, waived or discharged
unless the modification, waiver or discharge is agreed to in writing and signed by you and by an authorized officer of the Company (other than you). No waiver by either party of any breach of, or of compliance with, any condition or provision of
this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c)    Whole Agreement. No other agreements, representations or understandings (whether oral or written and
whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof. This Agreement and the Confidential Information Agreement contain the entire
understanding of the parties with respect to the subject matter hereof. 
 (d)    Tax. All payments made
pursuant to this Agreement will be subject to withholding of applicable taxes. YOU SHOULD CONSULT A TAX ADVISER REGARDING YOUR COMPENSATION FROM THE COMPANY. You hereby agree that the Company does not have a duty to design its compensation policies
in a manner that minimizes your tax liabilities, you are not relying on the Company for any tax advice and you will not make any claim against the Company or the Board related to your tax liabilities arising from your compensation. 

(e)    Choice of Law and Severability. This Agreement shall be interpreted in accordance with the laws of
the State of Washington without giving effect to provisions governing the choice of law. If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any applicable jurisdiction by reason of the scope, extent or
duration of its coverage, then such provision shall be deemed amended to the minimum extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended without materially altering the intention
of the parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. If any provision of this Agreement is rendered illegal by any present or future statute, law, ordinance or regulation
(collectively, the “Law”) then that provision shall be curtailed or limited only to the minimum extent necessary to bring the provision into compliance with the Law. All the other terms and provisions of this Agreement shall
continue in full force and effect without impairment or limitation. 
 (f)    No Assignment. This
Agreement and all of your rights and obligations hereunder are personal to you and may not be transferred or assigned by you at any time. The Company may assign its rights under this Agreement to any entity that assumes the Company’s
obligations hereunder in connection with any sale or transfer of all or a substantial portion of the Company’s assets to such entity. 

(g)    Offer Subject to Background Check and Board Approval. The Company reserves the right to conduct
background investigations and reference checks on all of its potential employees. Your job offer, therefore, is contingent upon a clearance of such a background investigation and reference check. Your job offer is also contingent upon approval by
the Board. 
 (h)    Start Date. Your start date will be
                     (the “Start Date”). 

[SIGNATURE PAGE FOLLOWS] 

 Your signature will acknowledge that you have read and understood and agreed to the terms
and conditions of this Agreement. If you do not sign and return this Agreement to the Company on or prior to June 14, 2019, the Agreement will terminate and become null and void. Should you have anything else that you wish to discuss, please do
not hesitate to call me. We look forward to the opportunity to welcome you to the Company. 
  

	
	VERY TRULY YOURS,
	
	 /s/ Peter Moldt

	Peter Moldt
	Chairman of the Board of Directors

 I have read and understood this Agreement and hereby acknowledge, accept and agree to the terms as set
forth above and further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein. 
  

							
	 /s/ Randall C. Schatzman
	 		 	Date signed:	 	 June 10, 2019

	Randall C. Schatzman	 		 		 	
		 		 	Address:	 	  

		 		 	    	 	  

 [SIGNATURE PAGE TO CEO OFFER OF
EMPLOYMENT] 
 | www.boltbio.com  |  1640 Galveston Drive  |  Redwood
City  |  CA  |  94063  |

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