Document:

EX-10.14

 Exhibit 10.14 

FORM FOR ARSANIS, INC. 2017 EQUITY INCENTIVE PLAN 

(MARCH 2019) 
 X4
PHARMACEUTICALS, INC. 
 RESTRICTED STOCK AGREEMENT 

X4 Pharmaceuticals, Inc. (the “Company”) has selected you to receive the following restricted stock award pursuant to its
2017 Equity Incentive Plan (the Arsanis, Inc. 2017 Equity Incentive Plan). The terms and conditions attached hereto are also a part hereof. 

Notice of Grant 
  

			
	
Name of recipient (the “Recipient”):
	 	 
	 Grant
Date:
	 	 
	 Number of
shares of the restricted common stock awarded:
	 	 
	 Vesting
Start Date:
	 	 

 Vesting Schedule: 
  

			
	[First Anniversary of Vesting Start Date]	  	[25%]
	[Last day of each month following the First Anniversary of the Vesting Start Date thereafter]	  	[2.0833%]
	All vesting is dependent on the Recipient remaining employed by the Company, as
provided herein.
	
[Notwithstanding the foregoing, 100% of the unvested portion of the Restricted Shares shall vest upon the termination of the Recipient’s employment by the
Company without Cause upon or at any time within 12 months following a Change of Control.
  

For purposes of this Agreement, a “Change of Control” shall mean the occurrence of any of the following events: (i) any
“Person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “Beneficial Owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities (excluding for this purpose any such voting securities held by the
Company, or any affiliate, parent or subsidiary of the Company, or by any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board does not approve; or (ii) (A) A merger or
consolidation of the Company whether or not approved by the Board, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity or the parent of such entity) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or
parent of such entity, as the case may be, outstanding immediately after such merger or consolidation; or (B) the sale or disposition by the Company of all or substantially all of the Company’s assets.

 
 For purposes of this Agreement, if the Recipient is subject to an individual employment
agreement with the Company or eligible to participate in a Company severance plan or arrangement, in any case which agreement, plan or arrangement contains a definition of “cause” for termination of employment, “Cause”
shall have the meaning ascribed to such term in such agreement, plan or arrangement, otherwise, “Cause” shall mean, with respect to the Recipient (a) dishonesty with respect to the Company or any affiliate,
(b) insubordination, substantial malfeasance or non-feasance of duty, (c) unauthorized disclosure of confidential information, (d) breach by the recipient of any provision of any employment,
consulting, advisory, nondisclosure, non-competition or similar agreement between the Recipient and the Company or any affiliate, and (e) conduct substantially prejudicial to the business of the Company
or any affiliate, with the determination of the administrator of the Plan as to the existence of Cause will be conclusive on the Recipient and the Company. The Recipient’s employment shall be considered to have been terminated for Cause if the
Company determines, within 30 days after the Recipient’s resignation, that termination for Cause was warranted.]

 Please confirm your acceptance of this restricted stock award and of the terms and
conditions of this Agreement by signing a copy of this Agreement where indicated below. 
  

			
	X4 PHARMACEUTICALS, INC.
		
	By:	 	 
		 	Name of Officer
		 	Title:

  

	
	Accepted and Agreed:
	
	   

	Signature of Recipient
	
	   

	Street Address
	
	   

	City/State/Zip Code

 X4 PHARMACEUTICALS, INC. 

Restricted Stock Agreement 

Incorporated Terms and Conditions 

The terms and conditions of the award of shares of restricted common stock of the Company (the “Restricted Shares”) made to
the Recipient, as set forth in the Notice of Grant that forms part of this agreement (the “Notice of Grant”), are as follows: 
  

	1.	 Issuance of Restricted Shares. 

(a) The Restricted Shares are issued to the Recipient, effective as of the Grant Date set forth in the Notice of Grant, in consideration of
services rendered and to be rendered by the Recipient to the Company. 
 (b) The Restricted Shares will initially be issued by the Company
in book entry form only, in the name of the Recipient. Following the vesting of any Restricted Shares pursuant to Section 2 below, the Company shall, if requested by the Recipient, issue and deliver to the Recipient a certificate representing
the vested Restricted Shares. The Recipient agrees that the Restricted Shares shall be subject to the forfeiture provisions set forth in Section 3 of this Agreement and the restrictions on transfer set forth in Section 4 of this Agreement.

  

	2.	 Vesting. 

Unless otherwise provided in this Agreement in the Arsanis, Inc. 2017 Equity Incentive Plan (the “Plan”) or in another
agreement between the Recipient and the Company, the Restricted Shares shall vest in accordance with the vesting schedule set forth in the Notice of Grant. Any fractional number of Restricted Shares resulting from the application of the vesting
schedule shall be rounded down to the nearest whole number of Restricted Shares. 
  

	3.	 Forfeiture of Unvested Restricted Shares Upon Employment Termination. 

In the event that the Recipient ceases to be employed by the Company for any reason or no reason, with or without cause, all of the Restricted
Shares that are unvested as of the time of such employment termination shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Recipient, effective as of such termination of employment. The
Recipient shall have no further rights with respect to any Restricted Shares that are so forfeited. If the Recipient is employed by a subsidiary of the Company, any references in this Agreement to employment with the Company shall instead be deemed
to refer to employment with such subsidiary. 
  

	4.	 Restrictions on Transfer. 

Except as set forth in the Plan, the Recipient shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of, by operation of
law or otherwise (collectively “transfer”) any Restricted Shares, or any interest therein, until such Restricted Shares have vested. The Company shall not be required (i) to transfer on its books any of the Restricted Shares
which have been transferred in violation of any of the provisions of this Agreement or the Plan or (ii) to treat as owner of such Restricted Shares or to pay dividends to any transferee to whom such Restricted Shares have been transferred in
violation of any of the provisions of this Agreement or the Plan. 
  

	5.	 Restrictive Legends. 

The book entry account reflecting the issuance of the Restricted Shares in the name of the Recipient shall bear a legend or other notation upon
substantially the following terms: 
 “These shares of stock are subject to forfeiture provisions and restrictions on transfer set
forth in a certain Restricted Stock Agreement between the corporation and the registered owner of these shares (or his or her predecessor in interest), and such Agreement is available for inspection without charge at the office of the Secretary of
the corporation.” 

  
 1 

	6.	 Rights as a Shareholder. 

Except as otherwise provided in this Agreement, for so long as the Recipient is the registered owner of the Restricted Shares, the Recipient
shall have all rights as a shareholder with respect to the Restricted Shares, whether vested or unvested, including, without limitation, rights to vote the Restricted Shares and act in respect of the Restricted Shares at any meeting of shareholders;
provided that, as provided in the Plan, the payment of dividends on unvested Restricted Shares shall be deferred until the vesting of such shares. 
  

	7.	 Provisions of the Plan. 

This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Recipient with this Agreement. 

 

	8.	 Tax Matters. 

(a) Acknowledgments; Section 83(b) Election. The Recipient acknowledges that he or she is responsible for obtaining
the advice of the Recipient’s own tax advisors with respect to the acquisition of the Restricted Shares and the Recipient is relying solely on such advisors and not on any statements or representations of the Company or any of its agents with
respect to the tax consequences relating to the Restricted Shares. The Recipient understands that the Recipient (and not the Company) shall be responsible for the Recipient’s tax liability that may arise in connection with the acquisition,
vesting and/or disposition of the Restricted Shares. The Recipient acknowledges that he or she has been informed of the availability of making an election under Section 83(b) of the Internal Revenue Code, as amended (a
“Section 83(b) Election”) with respect to the issuance of the Restricted Shares. The Recipient agrees to promptly deliver written notice to the Company in the event the Recipient makes a Section 83(b)
Election with respect to the Restricted Shares. 
 (b) Withholding. The Recipient acknowledges and agrees that the Company has the
right to deduct from payments of any kind otherwise due to the Recipient any federal, state, local or other taxes of any kind required by law to be withheld with respect to the issuance or vesting of the Restricted Shares. 

 

	9.	 Miscellaneous. 

(a) No Right to Continued Employment. The Recipient acknowledges and agrees that, notwithstanding the fact that the vesting of the
Restricted Shares is contingent upon his or her continued employment by the Company, this Agreement does not constitute an express or implied promise of continued employment or confer upon the Recipient any rights with respect to continued
employment by the Company. 
 (b) Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the
internal laws of the State of Delaware without regard to any applicable conflicts of laws provisions. 
 (c) Recipient’s
Acknowledgments. The Recipient acknowledges that he or she has read this Agreement, has received and read the Plan, and understands the terms and conditions of this Agreement and the Plan. 

  
 2EX-10.15

 Exhibit 10.15 

FORM FOR ARSANIS, INC. 2017 EQUITY INCENTIVE PLAN 

(MARCH 2019) 
 X4
PHARMACEUTICALS, INC. 
 NON-QUALIFIED OPTION AGREEMENT (DIRECTOR GRANTS) 

X4 Pharmaceuticals, Inc. (the “Company”) hereby grants the following stock option pursuant to its 2017 Equity Incentive Plan
(the Arsanis, Inc. 2017 Equity Incentive Plan). The terms and conditions attached hereto are also a part hereof. 
 Notice of Grant

  

			
	Name of optionee (the “Participant”):	 	 
	Grant Date:	 	 
	Number of shares of the Company’s Common Stock subject to this option (“Shares”):	 	 
	Option exercise price per Share:	 	 
	Number, if any, of Shares that vest immediately on the grant date:	 	 
	Shares that are subject to vesting schedule:	 	 
	Vesting Start Date:	 	 
	 Final Exercise Date:

 
	 	 

 Vesting Schedule: 
  

			
	 	 	 
	 	 	 
	 	 	 
	All vesting is dependent on the Participant remaining an Eligible Participant,
as provided herein.
	
[Notwithstanding the foregoing, 100% of the unvested portion of this option shall vest upon a Change of Control.

 
 For purposes of this option, a “Change of Control” shall mean the
occurrence of any of the following events: (i) any “Person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “Beneficial Owner” (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting
securities (excluding for this purpose any such voting securities held by the Company, or any affiliate, parent or subsidiary of the Company, or by any employee benefit plan of the Company) pursuant to a transaction or a series of related
transactions which the Board does not approve; or (ii) (A) A merger or consolidation of the Company whether or not approved by the Board, other than a merger or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or the parent of such entity) at least fifty percent (50%) of the total voting power
represented by the voting securities of the Company or such surviving entity or parent of such entity, as the case may be, outstanding immediately after such merger or consolidation; or (B) the sale or disposition by the Company of all or
substantially all of the Company’s assets.]

 This option satisfies in full all commitments that the Company has to the Participant with
respect to the issuance of stock, stock options or other equity securities. 
  

							
		 		 	X4 PHARMACEUTICALS, INC.
				
	 	 		 	By:	 	 
	Signature of Participant	 		 		 	Name of Officer
		 		 		 	Title:
				
	 	 		 		 	
	Street Address	 		 		 	
		 		 		 	
				
	 	 		 		 	
	 City/State/Zip Code
	 		 		 	

 X4 PHARMACEUTICALS, INC. 

Non-Qualified Option Agreement 

Incorporated Terms and Conditions 
  

	1.	 Grant of Option. 

This agreement evidences the grant by the Company, on the grant date (the “Grant Date”) set forth in the Notice of Grant that
forms part of this agreement (the “Notice of Grant”), to the Participant of an option to purchase, in whole or in part, on the terms provided herein and in the Arsanis, Inc. 2017 Equity Incentive Plan (the “Plan”),
the number of Shares set forth in the Notice of Grant of common stock, $0.001 par value per share, of the Company (“Common Stock”), at the exercise price per Share set forth in the Notice of Grant. Unless earlier terminated, this
option shall expire at 5:00 p.m., Eastern time, on the Final Exercise Date set forth in the Notice of Grant (the “Final Exercise Date”). 

It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to
include any person who acquires the right to exercise this option validly under its terms. 
  

	2.	 Vesting Schedule. 

This option will become exercisable (“vest”) in accordance with the vesting schedule set forth in the Notice of Grant. 

The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it
shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan. 

 

	3.	 Exercise of Option. 

(a) Form of Exercise. Each election to exercise this option shall be in writing, in the form of the Stock Option Exercise Notice
attached as Annex A, signed by the Participant, and received by the Company at its principal office, accompanied by this agreement, or in such other form (which may be electronic) as is approved by the Company, together with payment in
full in the manner provided in the Plan. The Participant may purchase less than the number of shares covered hereby, provided that no partial exercise of this option may be for any fractional share. 

(b) Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3, this option may not be
exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees,
officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”). 

(c) Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any reason, then, except
as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be exercisable only
to the extent that the Participant was entitled to exercise this option on the date of such cessation. 
 Notwithstanding the foregoing, if
the Participant, prior to the Final Exercise Date, violates the restrictive covenants (including, without limitation, the non-competition, non-solicitation, or
confidentiality provisions) of any employment contract, the Non-Competition, Non-Solicitation, Confidentiality and Assignment of Inventions agreement to which the
Participant is a party, if any, or any other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such violation. 

  
 1 

 (d) Exercise Period Upon Death or Disability. If the Participant dies or becomes
disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph
(e) below, this option shall be exercisable, within the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this
option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 

(e) Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment or other relationship with the
Company is terminated by the Company for Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment or other relationship. If, prior to the Final Exercise Date,
the Participant is given notice by the Company of the termination of his or her employment or other relationship by the Company for Cause, and the effective date of such termination is subsequent to the date of delivery of such notice, the right to
exercise this option shall be suspended from the time of the delivery of such notice until the earlier of (i) such time as it is determined or otherwise agreed that the Participant’s employment or other relationship shall not be terminated
for Cause as provided in such notice or (ii) the effective date of such termination (in which case the right to exercise this option shall, pursuant to the preceding sentence, terminate upon the effective date of such termination). If the
Participant is subject to an individual employment or other services agreement with the Company or eligible to participate in a Company severance plan or arrangement, in any case which agreement, plan or arrangement contains a definition of
“cause” for termination of employment or such other relationship, “Cause” shall have the meaning ascribed to such term in such agreement, plan or arrangement. Otherwise, “Cause” shall mean, with respect to
the Participant (a) dishonesty with respect to the Company or any affiliate, (b) insubordination, substantial malfeasance or non-feasance of duty, (c) unauthorized disclosure of confidential
information, (d) breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or similar agreement between the Participant and the Company or any
affiliate, and (e) conduct substantially prejudicial to the business of the Company or any affiliate. The determination of the administrator of the Plan as to the existence of Cause will be conclusive on the Participant and the Company. The
Participant’s employment or other relationship shall be considered to have been terminated for Cause if the Company determines, within 30 days after the Participant’s resignation, that termination for Cause was warranted. 

 

	4.	 Withholding. 

No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision
satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. 
  

	5.	 Transfer Restrictions; Clawback. 

(a) This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation
of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant. 

(b) In accepting this option, the Participant agrees to be bound by any clawback policy that the Company may adopt in the future. 

 

	6.	 Provisions of the Plan. 

This option is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan), a copy of which is
furnished to the Participant with this option. 

  
 2 

 ANNEX A 

X4 PHARMACEUTICALS, INC. 

Stock Option Exercise Notice 
 X4
Pharmaceuticals, Inc. 
 955 Massachusetts Avenue, 4th Floor 

Cambridge, MA 02139 
 Dear Sir or Madam: 

I, (the “Participant”), hereby irrevocably exercise the right to purchase ___________ shares of the Common Stock, $0.001 par value per share
(the “Shares”), of X4 Pharmaceuticals, Inc. (the “Company”) at $__________ per share pursuant to the Company’s 2017 Equity Incentive Plan (the Arsanis, Inc. 2017 Equity Incentive Plan) and a stock option
agreement with the Company dated __________ (the “Option Agreement”). Enclosed herewith is a payment of $__________, the aggregate purchase price for the Shares. The certificate for the Shares should be registered in my name as it
appears below or, if so indicated below, jointly in my name and the name of the person designated below, with right of survivorship. 
  

			
		
	Dated:	 	 
	Signature	 	
	Print Name:	 	
		
	Address:	 	 

			
		
		 	 

 Name and address of persons in whose name the Shares are to be jointly registered (if applicable):

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