Document:

Exhibit 10.10

 

Genocea Biosciences, Inc.

AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN

 

1.                                      DEFINED TERMS

 

Exhibit A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those terms.

 

2.                                      PURPOSE

 

The Plan has been established to advance the interests of the Company by providing for the grant to Participants of Stock-based Awards.

 

3.                                      ADMINISTRATION

 

The Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan; determine eligibility for and grant Awards; determine, modify or waive the terms and conditions of any Award; prescribe forms, rules and procedures; and otherwise do all things necessary to carry out the purposes of the Plan.  Determinations of the Administrator made under the Plan will be conclusive and will bind all parties.

 

4.                                      LIMITS ON AWARDS UNDER THE PLAN

 

(a)                                 Number of Shares.  A maximum of 7,892,500 shares of Stock may be delivered in satisfaction of Awards under the Plan.  The number of shares of Stock delivered in satisfaction of Awards shall, for purposes of the preceding sentence, be determined net of shares of Stock withheld by the Company in payment of the exercise price of the Award or in satisfaction of tax withholding requirements with respect to the Award.  The limit set forth in this Section 4(a) shall be construed to comply with Section 422.  To the extent consistent with the requirements of Section 422, Stock issued under awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition shall not reduce the number of shares available for Awards under the Plan.

 

(b)                                 Type of Shares.  Stock delivered by the Company under the Plan may be authorized but unissued Stock or previously issued Stock acquired by the Company.  No fractional shares of Stock will be delivered under the Plan.

 

 

5.                                      ELIGIBILITY AND PARTICIPATION

 

The Administrator will select Participants from among those key Employees and directors of, and consultants and advisors to, the Company or its Affiliates who, in the opinion of the Administrator, are in a position to make a significant contribution to the success of the Company and its Affiliates.  Eligibility for ISOs is limited to employees of the Company or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code.

 

6.                                      RULES APPLICABLE TO AWARDS

 

(a)                                 All Awards

 

(1)  Award Provisions.  The Administrator will determine the terms of all Awards, subject to the limitations provided herein.  By accepting (or, under such rules as the Administrator may prescribe, being deemed to have accepted) an Award, the Participant agrees to the terms of the Award and the Plan.  Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator.

 

(2)  Term of Plan.  No Awards may be made after February 10 (day before plan adopted), 2019, but previously granted Awards may continue beyond that date in accordance with their terms.

 

(3)  Transferability.  Neither ISOs nor, except as the Administrator otherwise expressly provides in accordance with the second sentence of this Section 6(a)(3), other Awards may be transferred other than by will or by the laws of descent and distribution, and during a Participant’s lifetime ISOs (and, except as the Administrator otherwise expressly provides in accordance with the second sentence of this Section 6(a)(3), other Awards requiring exercise) may be exercised only by the Participant.  The Administrator may permit Awards other than ISOs to be transferred by gift, subject to such limitations as the Administrator may impose.

 

(4)  Vesting, Etc.   The Administrator may determine the time or times at which an Award will vest or become exercisable and the terms on which an Award requiring exercise will remain exercisable.  Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax consequences resulting from such acceleration.  Unless the Administrator expressly provides otherwise, however, the following rules will apply: immediately upon the cessation of the Participant’s Employment, each Award requiring exercise that is then held by the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate, and all other Awards that are then held by the Participant or by the Participant’s permitted transferees, if any, to the extent not already vested will be forfeited, except that:

 

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(A)  subject to (B) and (C) below, all Stock Options and SARs held by the Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate;

 

(B)  all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the Participant’s death, to the extent then exercisable, will remain exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s death or (ii) the period ending on the latest date on which such Stock Option or SAR could have been exercised without regard to this Section 6(a)(4), and will thereupon terminate; and

 

(C)  all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s Employment will immediately terminate upon such cessation if the Administrator in its sole discretion determines that such cessation of Employment has resulted for reasons which cast such discredit on the Participant as to justify immediate termination of the Award.

 

(5)  Taxes.  The Administrator will make such provision for the withholding of taxes as it deems necessary and may require that the exercise or vesting of an Award, or the delivery of Stock, cash or other property under an Award, be conditioned on the payment by the Participant or another person of all required withholding taxes.  The Administrator may, but need not, hold back shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding requirements (but not in excess of the minimum withholding required by law).

 

(6)  Dividend Equivalents, Etc.  The Administrator may provide for the payment of amounts in lieu of cash dividends or other cash distributions with respect to Stock subject to an Award.  Any entitlement to dividend equivalents or similar entitlements shall be established and administered consistent either with exemption from, or compliance with, the requirements of Section 409A.

 

(7)  Rights Limited.  Nothing in the Plan will be construed as giving any person the right to continued employment or service with the Company or its Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan.  The loss of existing or potential profit in Awards will not constitute an element of damages in the event of termination of Employment for any reason, even if the termination is in violation of an obligation of the Company or any Affiliate to the Participant.

 

(8)  Transfer Restrictions.  If, when any shares of Stock are issued in connection with the exercise or grant of an Award, the Company is a party to an agreement

 

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restricting the transfer of any outstanding shares of its Stock, the exercise or grant of such Award shall, unless otherwise expressly specified by the Administrator, be subject to the conditions (i) that the shares of Stock so acquired shall be made subject to the transfer restrictions set forth in that agreement (or if more than one such agreement is then in effect, the agreement specified by the Administrator) and (ii) that the Participant shall execute a joinder to such agreement.  When any shares of Stock are issued in connection with the exercise or grant of an Award, the exercise or grant of such Award shall, unless otherwise expressly specified by the Administrator, be subject to a condition that the Participant must agree, for himself or herself and his or her heirs and legal representatives, to any “lock-up” or similar agreements requested by the Company in connection with a public offering of the shares of the Company’s Stock

 

(9)  Coordination with Other Plans.  Awards under the Plan may be granted in tandem with, or in satisfaction of or substitution for, other Awards under the Plan or awards made under other compensatory plans or programs of the Company or its Affiliates.  For example, but without limiting the generality of the foregoing, awards under other compensatory plans or programs of the Company or its Affiliates may be settled in Stock (including, without limitation, Unrestricted Stock) if the Administrator so determines, in which case the shares delivered shall be treated as awarded under the Plan (and shall reduce the number of shares thereafter available under the Plan in accordance with the rules set forth in Section 4).

 

(10)  Section 409A.  Each Award shall contain such terms as the Administrator determines, and shall be construed and administered, such that the Award either (i) qualifies for an exemption from the requirements of Section 409A to the extent applicable, or (ii) satisfies such requirements.

 

(11)  Certain Requirements of Corporate Law.  Awards shall be granted and administered consistent with the requirements of applicable Delaware law relating to the issuance of stock and the consideration to be received therefor, and with the applicable requirements of the stock exchanges or other trading systems on which the Stock is listed or entered for trading, in each case as determined by the Administrator.

 

(b)                                 Awards Requiring Exercise

 

(1)  Time And Manner Of Exercise.  Unless the Administrator expressly provides otherwise, an Award requiring exercise by the holder will not be deemed to have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator) signed by the appropriate person and accompanied by any payment required under the Award.  If the Award is exercised by any person other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so.

 

(2)  Exercise Price.  The exercise price (or the base value from which appreciation is to be measured) of each Award requiring exercise shall be 100% (in the case of an ISO granted to a ten-percent shareholder within the meaning of subsection (b)(6) of

 

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Section 422, 110%) of the fair market value of the Stock subject to the Award, determined as of the date of grant, or such higher amount as the Administrator may determine in connection with the grant.  Fair market value shall be determined by the Administrator consistent with the applicable requirements of Section 422 and Section 409A.

 

(3)  Payment Of Exercise Price.  Where the exercise of an Award is to be accompanied by payment, payment of the exercise price shall be by cash or check acceptable to the Administrator, or, if so permitted by the Administrator and if legally permissible, (i) through the delivery of shares of Stock that have been outstanding for at least six months (unless the Administrator approves a shorter period) and that have a fair market value equal to the exercise price, (ii) at such time, if any, as the Stock is publicly traded, through a broker-assisted exercise program acceptable to the Administrator, (iii) by other means acceptable to the Administrator, or (iv) by any combination of the foregoing permissible forms of payment.  The delivery of shares in payment of the exercise price under clause (i) above may be accomplished either by actual delivery or by constructive delivery through attestation of ownership, subject to such rules as the Administrator may prescribe.

 

(4)  Maximum Term.  Awards requiring exercise will have a maximum term not to exceed ten (10) years from the date of grant.

 

7.                                      EFFECT OF CERTAIN TRANSACTIONS

 

(a)                                 Mergers, etc.  Except as otherwise provided in an Award, the following provisions shall apply in the event of a Covered Transaction:

 

(1)   Assumption or Substitution.  If the Covered Transaction is one in which there is an acquiring or surviving entity, the Administrator may provide for the assumption of some or all outstanding Awards or for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor.

 

(2)   Cash-Out of Awards.  If the Covered Transaction is one in which holders of Stock will receive upon consummation a payment (whether cash, non-cash or a combination of the foregoing), the Administrator may provide for payment (a “cash-out”), with respect to some or all Awards or any portion thereof, equal in the case of each affected Award or portion thereof to the excess, if any, of (A) the fair market value of one share of Stock (as determined by the Administrator in its reasonable discretion) times the number of shares of Stock subject to the Award or such portion, over (B) the aggregate exercise or purchase price, if any, under the Award or such portion (in the case of an SAR, the aggregate base value above which appreciation is measured), in each case on such payment terms (which need not be the same as the terms of payment to holders of Stock) and other terms, and subject to such conditions, as the Administrator determines; provided, that the Administrator shall not exercise its discretion under this Section 7(a)(2) with respect to an Award or portion thereof providing for “nonqualified deferred compensation” subject to Section 409A in a manner that would constitute an extension

 

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or acceleration of, or other change in, payment terms if such change would be inconsistent with the applicable requirements of Section 409A.

 

(3)  Termination or Acceleration of Certain Awards.  If the Covered Transaction (whether or not there is an acquiring or surviving entity) is one in which there is no assumption, substitution or cash-out, for each Award requiring exercise, the Administrator in its sole discretion may choose one of the following actions:

 

(i) terminate the Award upon the occurrence of the Covered Transaction or

 

(ii) make the Award fully exercisable with the delivery of any shares of Stock remaining deliverable under each outstanding Award of Stock Units (including Restricted Stock Units and Performance Awards to the extent consisting of Stock Units) accelerated and such shares to be delivered prior to the Covered Transaction on a basis that gives the holder of the Award a reasonable opportunity, as determined by the Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a stockholder in the Covered Transaction; provided, that to the extent acceleration pursuant to this Section 7(a)(3)(ii) of an Award subject to Section 409A would cause the Award to fail to satisfy the requirements of Section 409A, the Award shall not be accelerated and the Administrator in lieu thereof shall take such steps as are necessary to ensure that payment of the Award is made in a medium other than Stock and on terms that as nearly as possible, but taking into account adjustments required or permitted by this Section 7, replicate the prior terms of the Award.

 

(4)  Termination of Awards Upon Consummation of Covered Transaction.  Each Award will terminate upon consummation of the Covered Transaction, other than the following:  (i) Awards assumed pursuant to Section 7(a)(1) above; (ii) Awards converted pursuant to the proviso in Section 7(a)(3)(ii) above into an ongoing right to receive payment other than Stock; and (iii) outstanding shares of Restricted Stock (which shall be treated in the same manner as other shares of Stock, subject to Section 7(a)(5) below).

 

(5)  Additional Limitations.  Any share of Stock and any cash or other property delivered pursuant to Section 7(a)(2) or Section 7(a)(3)(ii) above with respect to an Award may, in the discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was subject and that did not lapse (and were not satisfied) in connection with the Covered Transaction.  In the case of Restricted Stock that does not vest in connection with the Covered Transaction, the Administrator may require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan.

 

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(b)                                 Changes in and Distributions With Respect to Stock

 

(1)  Basic Adjustment Provisions.  In the event of a stock dividend, stock split or combination of shares (including a reverse stock split), recapitalization or other change in the Company’s capital structure, the Administrator shall make appropriate adjustments to the maximum number of shares specified in Section 4(a) that may be delivered under the Plan and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted, any exercise prices relating to Awards and any other provision of Awards affected by such change.

 

(2)  Certain Other Adjustments.  The Administrator may also make adjustments of the type described in Section 7(b)(1) above to take into account distributions to stockholders other than those provided for in Section 7(a) and 7(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan and to preserve the value of Awards made hereunder, having due regard for the qualification of ISOs under Section 422 and the requirements of Section 409A, where applicable.

 

(3)  Continuing Application of Plan Terms.  References in the Plan to shares of Stock will be construed to include any stock or securities resulting from an adjustment pursuant to this Section 7.

 

8.                                      LEGAL CONDITIONS ON DELIVERY OF STOCK

 

The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the Company is satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of delivery listed on any stock exchange or national market system, the shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been satisfied or waived.  If the sale of Stock has not been registered under the Securities Act of 1933, as amended, the Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of such Act.  The Company may require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse of the applicable restrictions.

 

9.                                      AMENDMENT AND TERMINATION

 

The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by law, and may at any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so as to affect materially and adversely the Participant’s rights under the Award, unless

 

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the Administrator expressly reserved the right to do so at the time of the Award.  Any amendments to the Plan shall be conditioned upon stockholder approval only to the extent, if any, such approval is required by law (including the Code), as determined by the Administrator.

 

10.                               OTHER COMPENSATION ARRANGEMENTS

 

The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to Award a person bonuses or other compensation in addition to Awards under the Plan.

 

11.                               MISCELLANEOUS

 

(a)                                 Waiver of Jury Trial.  By accepting an Award under the Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action, proceedings or counterclaim shall be tried before a court and not before a jury.  By accepting an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise, that the Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the foregoing waivers.

 

(b)                                 Limitation of Liability.  Notwithstanding anything to the contrary in the Plan, neither the Company, nor any Affiliate, nor the Administrator, nor any person acting on behalf of the Company, any Affiliate, or the Administrator, shall be liable to any Participant or to the estate or beneficiary of any Participant or to any other holder of an Award by reason of any acceleration of income, or any additional tax, asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code; provided, that nothing in this Section 11(b) shall limit the ability of the Administrator or the Company to provide by separate express written agreement with a Participant for a gross-up payment or other payment in connection with any such tax or additional tax.

 

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EXHIBIT A

 

Definition of Terms

 

The following terms, when used in the Plan, will have the meanings and be subject to the provisions set forth below:

 

“Administrator”:  The Board, except that the Board may delegate its authority under the Plan to a committee of the Board, in which case references herein to the Board shall refer to such committee.  The Board may delegate (i) to one or more of its members such of its duties, powers and responsibilities as it may determine; (ii) to one or more officers of the Company the power to grant rights or options to the extent permitted by Section 157(c) of the Delaware General Corporation Law; and (iii) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate.  In the event of any delegation described in the preceding sentence, the term “Administrator” shall include the person or persons so delegated to the extent of such delegation.

 

“Affiliate”:  Any corporation or other entity that stands in a relationship to the Company that would result in the Company and such corporation or other entity being treated as one employer under Section 414(b) and Section 414(c) of the Code, except that in determining eligibility for the grant of a Stock Option or SAR by reason of service for an Affiliate, Sections 414(b) and 414(c) of the Code shall be applied by substituting “at least 50%” for “at least 80%” under Section 1563(a)(1), (2) and (3) of the Code and Treas. Regs. § 1.414(c)-2; provided, that to the extent permitted under Section 409A, “at least 20%” shall be used in lieu of “at least 50%”; and further provided, that the lower ownership threshold described in this definition (50% or 20% as the case may be) shall apply only if the same definition of affiliation is used consistently with respect to all compensatory stock options or stock awards (whether under the Plan or another plan). The Company may at any time by amendment provide that different ownership thresholds (consistent with Section 409A) apply but any such change shall not be effective for twelve (12) months.

 

“Award”:  Any or a combination of the following:

 

(i) Stock Options.

 

(ii) SARs.

 

(iii) Restricted Stock

 

(iv) Unrestricted Stock.

 

(v) Stock Units, including Restricted Stock Units.

 

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(vi) Performance Awards.

 

(vii)  Awards (other than Awards described in (i) through (vi) above) that are convertible into or otherwise based on Stock.

 

“Board”:  The Board of Directors of the Company.

 

“Code”:  The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from time to time in effect.

 

“Company”:  Genocea Biosciences, Inc., a Delaware Corporation.

 

“Covered Transaction”:  Any of (i) a consolidation, merger, or similar transaction or series of related transactions, including a sale or other disposition of stock, in which the Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or by a group of persons and/or entities acting in concert, (ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company.  Where a Covered Transaction involves a tender offer that is reasonably expected to be followed by a merger described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender offer.

 

“Employee”:  Any person who is employed by the Company or an Affiliate.

 

“Employment”:  A Participant’s employment or other service relationship with the Company and its Affiliates.  Employment will be deemed to continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 5 to the Company or its Affiliates.  If a Participant’s employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant’s Employment will be deemed to have terminated when the entity ceases to be an Affiliate unless the Participant transfers Employment to the Company or its remaining Affiliates.

 

“ISO”:  A Stock Option intended to be an “incentive stock option” within the meaning of Section 422.  Each option granted pursuant to the Plan will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant, it is expressly designated as an ISO.

 

“Participant”:  A person who is granted an Award under the Plan.

 

“Performance Award”:  An Award subject to specified criteria, other than the mere continuation of Employment or the mere passage of time, the satisfaction of which is a condition for the grant, exercisability, vesting or full enjoyment of the Award.

 

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“Plan”:  The Genocea Amended and Restated 2007 Equity Incentive Plan as from time to time amended and in effect.

 

“Restricted Stock”:  Stock subject to restrictions requiring that it be redelivered or offered for sale to the Company if specified conditions are not satisfied.

 

“Restricted Stock Unit”:  A Stock Unit that is, or as to which the delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified performance or other vesting conditions.

 

“SAR”:  A right entitling the holder upon exercise to receive an amount (payable in cash or in shares of Stock of equivalent value) equal to the excess of the fair market value of the shares of Stock subject to the right over the base value from which appreciation under the SAR is to be measured.

 

“Section 409A”:  Section 409A of the Code.

 

“Section 422”:  Section 422 of the Code.

 

“Stock”:  Common Stock of the Company, par value $ .001 per share.

 

“Stock Option”:  An option entitling the holder to acquire shares of Stock upon payment of the exercise price.

 

“Stock Unit”:  An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the value of Stock in the future.

 

“Unrestricted Stock”:  Stock not subject to any restrictions under the terms of the Award.

 

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AMENDMENT TO

 

GENOCEA BIOSCIENCES, INC.

AMENDED AND RESTATED

2007 EQUITY INCENTIVE PLAN

 

June 24, 2013

 

Genocea Biosciences, Inc. sponsors the Genocea Biosciences, Inc. Amended and Restated 2007 Equity Incentive Plan (the “Plan”).  The Plan is hereby amended as set forth below:

 

1.                                      The first sentence of Section 4(a) is amended by deleting it in its entirety and replacing it with the following:

 

“A maximum of 22,127,159 shares of Stock may be delivered in satisfaction of Awards under the Plan.”

 

2.                                      Except as amended above, the Plan shall remain in full force and effect.

 

IN WITNESS WHEREOF, Genocea Biosciences, Inc. has executed this Plan Amendment as of the date first written above.

 

	
 
    	
Genocea Biosciences, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William   Clark
    
	
 
    	
Name:
    	
William   Clark
    
	
 
    	
Title:
    	
Chief   Executive OfficerExhibit 10.11

 

GENOCEA BIOSCIENCES, INC.

 

CONSULTING AGREEMENT

 

This Consulting Agreement (this “Agreement”) is entered into as of May 16, 2007, by and between Genocea Biosciences, Inc. (the “Company”) and George Siber (“Consultant”).  The Company desires to retain Consultant as an independent contractor to perform consulting services for the Company, and Consultant is willing to perform such services, on the terms described below.  In consideration of the mutual promises contained herein, the parties agree as follows:

 

1.              Services and Compensation.  Consultant agrees to perform for the Company the services described in Exhibit A (the “Services”), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

 

2.              Confidentiality.

 

A.            Definition.  “Confidential Information” means any non-public information that relates to the actual or anticipated business or research and development of the Company, technical data, trade secrets or know-how, including, but not limited to, research, product plans or other information regarding the Company’s products or services and markets therefore, customer lists and customers (including, but not limited to, customers of the Company on whom Consultant called or with whom Consultant became acquainted during the term of this Agreement), software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, marketing, finances or other business information.  Confidential Information does not include information that (i) is known to Consultant at the time of disclosure to Consultant by the Company as evidenced by written records of Consultant, (ii) was or becomes publicly known and made generally available through no wrongful act of Consultant, or (iii) has been rightfully received by Consultant from a third party who is authorized to make such disclosure.

 

B.            Nonuse and Nondisclosure.  Consultant will not, during or subsequent to the term of this Agreement, (i) use the Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of the Company, or (ii) disclose the Confidential Information to any third party. Consultant agrees that all Confidential Information will remain the sole property of the Company. Consultant also agrees to take all reasonable precautions to prevent any unauthorized disclosure of such Confidential Information.

 

C.            Former Client Confidential Information.  Consultant agrees that Consultant will not, during the term of this Agreement, improperly use or disclose any proprietary information or trade secrets of any former or current employer of Consultant or other person or entity with which Consultant has an agreement or duty to keep in confidence information acquired by Consultant, if any.  Consultant also agrees that Consultant will not bring onto the Company’s premises any unpublished document or proprietary information belonging to any such employer, person or entity unless consented to in writing by such employer, person or entity..

 

 

D.            Third Party Confidential Information.  Consultant recognizes that the Company has received and in the future will receive from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes.  Consultant agrees that during the term of this Agreement and thereafter, Consultant owes the Company and such third parties a duty to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out the Services and consistent with the Company’s agreement with such third party.

 

E.             Return of Materials.  Upon the termination of this Agreement, or upon the Company’s earlier request, Consultant will deliver to the Company all of the Company’s property, including but not limited to all electronically stored information and passwords to access such property, or Confidential Information that Consultant may have in Consultant’s possession or control.

 

3.              Ownership.

 

A.            Assignment.  Consultant agrees that all copyrightable material, notes, records, drawings, designs, inventions, improvements, developments, discoveries and trade secrets conceived, discovered, developed or reduced to practice by Consultant, solely or in collaboration with others, (x) during the term of this Agreement, (y) in performing the Services under this Agreement, and (z) that relate directly to those aspects of the business of the Company that Consultant is directed to undertake, investigate or experiment with or that Consultant becomes associated with in work, investigation or experimentation in the Company’s line of business (collectively, “Inventions”), are the sole property of the Company.  Consultant also agrees to assign (or cause to be assigned) and hereby assigns fully to the Company all Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating to all Inventions.

 

B.            Further Assurances.  Subject to Consultant’s other personal and professional commitments with respect to periods after the term of this Agreement, Consultant agrees to assist the Company, or its designee, at the Company’s expense, to secure the Company’s rights in Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating to all Inventions in any and all countries, including the disclosure to the Company of all pertinent information and data with respect to all Inventions, the execution of all applications, specifications, oaths, assignments and all other instruments that the Company may deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors, assigns and nominees the sole and exclusive right, title and interest in and to all Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating to all Inventions.  The Company and Consultant agree that the time required to fulfill the obligations required pursuant to this Section 3.A will be considered time devoted to the performance of the Services.  In the event that after the term of this Agreement Consultant is required to devote more than a de minimis amount of time to assisting the Company pursuant to this Section 3(B), Consultant and the Company will negotiate in good faith to determine appropriate additional compensation to be paid to Consultant in consideration for such assistance.  Consultant also agrees that Consultant’s obligation to execute or cause to be

 

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executed any such instrument or papers only shall continue after the termination of this Agreement.

 

C.            Pre-Existing Materials.  Subject to Section 3.A, Consultant agrees that if, in the course of performing the Services, Consultant incorporates into any Invention developed under this Agreement any pre-existing invention, improvement, development, concept, discovery or other proprietary information owned by Consultant or in which Consultant has an interest, (i) Consultant will inform Company, in writing before incorporating such invention, improvement, development, concept, discovery or other proprietary information into any Invention, and (ii) the Company is hereby granted a nonexclusive, royalty-free, perpetual, irrevocable, worldwide license to make, have made, modify, use and sell such item as part of or in connection with such Invention.  Consultant will not incorporate any invention, improvement, development, concept, discovery or other proprietary information owned by any third party into any Invention without the Company’s prior written permission.

 

D.            Attorney-in-Fact.  Consultant agrees that, if the Company is unable because of Consultant’s unavailability, dissolution, mental or physical incapacity, or for any other reason, to secure Consultant’s signature for the purpose of applying for or pursuing any application for any United States or foreign patents or mask work or copyright registrations covering the Inventions assigned to the Company in Section 3.A, then Consultant hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as Consultant’s agent and attorney-in-fact, to act for and on Consultant’s behalf to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyright and mask work registrations with the same legal force and effect as if executed by Consultant.

 

4.              Conflicting Obligations.

 

A.            Conflicts.  Consultant certifies that Consultant has outstanding obligations to Wyeth Pharmaceuticals that Consultant believes, based upon the current business, products and prospective products of the Company, is not in conflict with any of the provisions of this Agreement or would preclude Consultant from complying with the provisions of this Agreement.  Consultant will not enter into any agreement during the term of this Agreement that materially affects Consultant’s ability to perform the Services. Consultant’s violation of this Section 4.A will be considered a material breach subject to Section 6.B.

 

B.            Substantially Similar Designs.  In view of Consultant’s access to the Company’s trade secrets and proprietary know-how, Consultant agrees that Consultant will not, without the Company’s prior written approval, design identical or substantially similar products or technologies as those developed under this Agreement for any third party during the term of this Agreement and for a period of 12 months after the termination of this Agreement.  Consultant acknowledges that the obligations in this Section 4 are ancillary to Consultant’s nondisclosure obligations under Section 2.

 

5.              Reports.  Consultant also agrees that Consultant will, from time to time during the term of this Agreement or any extension thereof, keep the Company advised as to Consultant’s progress in performing the Services under this Agreement.  Consultant further agrees that

 

3

 

Consultant will, as requested by the Company, prepare written reports with respect to such progress.  The Company and Consultant agree that the time required to prepare such written reports will be considered time devoted to the performance of the Services.

 

6.              Term and Termination.

 

A.            Term.  The term of this Agreement will begin on the date of this Agreement and will continue until the earlier of (i) two years from the date of execution of this Agreement or (ii) termination as provided in Section 6.B.

 

B.            Termination.  Either party may terminate this Agreement upon giving the other party 14 days’ prior written notice of such termination pursuant to Section 11.E of this Agreement.  The Company may terminate this Agreement immediately in writing and without prior notice if Consultant refuses to or is unable to perform the Services or is in breach of any material provision of this Agreement.

 

C.            Survival.  Upon such termination, all rights and duties of the Company and Consultant toward each other shall cease except:

 

(1)         The Company will pay, within 10 days after the effective date of termination, all amounts owing to Consultant for Services rendered prior to the termination date and related expenses, if any, submitted in accordance with the Company’s policies and in accordance with the provisions of Section 1; and

 

(2)         Section 2 (Confidentiality), Section 3 (Ownership), Section 4 (Conflicting Obligations), Section 7 (Independent Contractor; Benefits), Section 8 (Indemnification), Section 9 (Nonsolicitation) and Section 10 (Equitable Relief) will survive termination of this Agreement.  Consultant’s ownership of all stock options vested on the effective date of termination and all rights pertaining thereto shall also survive termination.

 

7.              Independent Contractor; Benefits.

 

A.            Independent Contractor.  It is the express intention of the Company and Consultant that Consultant performs the Services as an independent contractor to the Company.  Nothing in this Agreement shall in any way be construed to constitute Consultant as an agent, employee or representative of the Company except to the extent needed for the performance of the Services.  Without limiting the generality of the foregoing, Consultant is not authorized to bind the Company to any liability or obligation or to represent that Consultant has any such authority.  Consultant agrees to furnish tools and materials necessary to accomplish this Agreement and shall incur expenses associated with performance, except as expressly provided in Exhibit A.  Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement.  Consultant agrees to and acknowledges the obligation to pay all self-employment and other taxes on such income.

 

B.            Benefits.  The Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company.  If Consultant is reclassified by a state or federal agency or court as the Company’s employee, Consultant will become a reclassified employee and will receive no benefits from the Company, except those mandated by state or

 

4

 

federal law, even if by the terms of the Company’s benefit plans or programs of the Company in effect at the time of such reclassification, Consultant would otherwise be eligible for such benefits.

 

8.              Indemnification.  Consultant agrees to indemnify and hold harmless the Company and its directors, officers and employees from and against all losses, damages, liabilities, costs and expenses, including reasonable attorneys’ fees and other legal expenses, arising directly from any violation or claimed violation of a third party’s rights by Consultant resulting in whole or in part from the Company’s use of the work product of Consultant under this Agreement.

 

9.              Nonsolicitation.  From the date of this Agreement until 12 months after the termination of this Agreement (the “Restricted Period”), Consultant will not, without the Company’s prior written consent, directly or indirectly, solicit or encourage any employee or contractor of the Company or its affiliates to terminate employment with, or cease providing services to, the Company or its affiliates.  During the Restricted Period, Consultant will not, whether for Consultant’s own account or for the account of any other person, firm, corporation or other business organization, intentionally interfere with any person who is or during the period of Consultant’s engagement by the Company was a partner, supplier, customer or client of the Company or its affiliates.

 

10.       Equitable Relief.  Consultant agrees that either the Company or Consultant may petition a court for provisional relief, including injunctive relief, including, but not limited to, where either the Company or Consultant alleges or claims a violation of this Agreement between Consultant and the Company or any other agreement regarding trade secrets, confidential information or nonsolicitation.  Consultant understands that any breach or threatened breach of such an agreement (including this Agreement) will cause irreparable injury and that money damages will not provide an adequate remedy therefore and both Consultant and the Company hereby consent to the issuance of an injunction.

 

11.       Miscellaneous.

 

A.            Governing Law.  This Agreement shall be governed by the laws of Massachusetts without regard to Massachusetts’ conflicts of law rules.

 

B.            Assignability.  Except as otherwise provided in this Agreement, Consultant may not sell, assign or delegate any rights or obligations under this Agreement.

 

C.            Entire Agreement.  This Agreement constitutes the entire agreement between the parties with respect to the subject matter of this Agreement and supersedes all prior written and oral agreements between the parties regarding the subject matter of this Agreement.

 

D.            Headings.  Headings are used in this Agreement for reference only and shall not be considered when interpreting this Agreement.

 

E.             Notices.  Any notice or other communication required or permitted by this Agreement to be given to a party shall be in writing and shall be deemed given if delivered personally or by commercial messenger or courier service, or mailed by U.S. registered or certified mail (return receipt requested), to the party at the party’s address written below or at

 

5

 

such other address as the party may have previously specified by like notice.  If by mail, delivery shall be deemed effective three business days after mailing in accordance with this Section 11.E.

 

(1)         If to the Company, to:

 

Genocea Biosciences, Inc 
 161 First Street, Suite2C 
 Cambridge, MA 02142

 

(2)         If to Consultant, to the address for notice on the signature page to this Agreement or, if no such address is provided, to the last address of Consultant provided by Consultant to the Company, with a copy to Berkowitz, Trager & Trager, LLC, 275 Madison Avenue, 36th Floor, New York, New York 10016, Attn: Steven T. Gersh, Esq.

 

F.              Attorneys’ Fees.  In any court action at law or equity that is brought by one of the parties to this Agreement to enforce or interpret the provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys’ fees, in addition to any other relief to which that party may be entitled.

 

G.            Severability.  If any provision of this Agreement is found to be illegal or unenforceable, the other provisions shall remain effective and enforceable to the greatest extent permitted by law.

 

IN WITNESS WHEREOF, the parties hereto have executed this Consulting Agreement as of the date first written above.

 

 

	
CONSULTANT
    	
COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   George R. Siber
    	
 
    	
By:
    	
/s/   Robert Paull
    
	
Name:   George R. Siber
    	
Name:   Robert Paull
    
					

 

6

 

EXHIBIT A

 

Services and Compensation

 

1.              Services.  The Services shall include, but shall not be limited to, the following:

 

1)                                     Determining the general scientific and business direction of the Company,

 

2)                                     Recruiting Scientific Advisory Board Members and Consultants to the Company,

 

3)                                     Recruiting full-time management and scientific personnel to the Company,

 

4)                                     Reviewing the goals of the Company and developing strategies for achieving them,

 

5)                                     Identifying and developing relationships with potential strategic partners,

 

6)                                     Interacting with potential investors, stockholders and strategic corporate partners,

 

7)                                     Identifying and reviewing promising scientific developments and intellectual property,

 

8)                                     Providing advice, support, theories, techniques and improvements in the Company’s scientific research and product development activities,

 

9)                                     Identifying and bringing to the Company’s attention technologies, intellectual property and scientific developments in the Field(1), and

 

10)                              Identifying and helping the Company apply for third party government financing.

 

Subject to approval, Consultant will serve as the Chairman of the Company’s Board of Directors until such time as a successor is duly elected.  Consultant shall devote at least four business days per month on site at the Company’s offices or other locations as mutually agreed.  In addition, Consultant shall be available to provide timely and ongoing correspondence with the Company via email or telephone.  Notwithstanding anything to the contrary contained in this Agreement, in no event will Consultant be required to devote in excess of 40 hours per month to rendering the Services.

 

2.              Compensation.

 

A.            Throughout the term of this Agreement the Company will pay Consultant a fee of $10,416 per month in consideration for rendering the Services.  All such payments will be made monthly within ten days after the close of the calendar month.

 

B.            The Company will reimburse Consultant for all reasonable expenses incurred by Consultant in performing the Services pursuant to this Agreement as evidenced by timely and

 

(1) Field is defined as:  Immunotherapeutic approaches for the treatment of infectious diseases, cancer, autoimmune diseases and related disorders.

 

7

 

proper receipts and records.  Payments for reimbursement of reasonable expenses will be made monthly within 15 days of receipt of a documented expense report of said expenses.

 

C.            The Company will recommend at the first meeting of the Company’s Board of Directors following the effective date of this Agreement that the Company grant Consultant (at no cost to Consultant) a Restricted Stock Grant of 24,000 shares of the Company’s Common Stock vesting over the first 12 months of the term of this Agreement in equal monthly installments.

 

Further the Company will also recommend at the first meeting of the Company’s Board of Directors following the effective date of this Agreement that the Company grant Consultant a Nonqualified Stock Option to purchase 120,000 shares of the Company’s Common Stock 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 Company’s Board of Directors in its sole discretion (the “Option”).  25% of the shares subject to the Option shall vest 12 months after the date Consultant begins providing the Services (provided that this Agreement has not been terminated prior to such date) and no shares shall vest before such date.  The remaining shares subject to the Option shall vest monthly over the next 36 months in equal monthly amounts subject to Consultant’s continuing to provide the Services on each such vesting date.  The Option will be exercisable until the first to occur of (x) the date that is four years after the termination of this Agreement for any reason, and (y) the date that is seven years from the data of the grant of the Option.

 

Both grants will be subject to the terms and conditions of the Company’s 2006 Stock Plan and the forms of restricted stock purchase and option agreements thereunder, including vesting requirements.  No right to any stock is earned or accrued until such time that vesting occurs, nor does the grant confer any right to continue vesting or engagement.

 

8

 

This Exhibit A is accepted and agreed as of May 16, 2007.

 

 

	
CONSULTANT
    	
COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   George R. Siber
    	
 
    	
By:
    	
/s/   Robert Paull
    
	
Name:   George R. Siber
    	
Name:   Robert Paull
    
					

 

9

 

 

June 30, 2009

 

George R. Siber, M.D.

 

Dear George:

 

Genocea Biosciences, Inc. (the “Company”) would like to extend the term of your Consulting Agreement (the “Consulting Agreement”) that you and the Company entered into on May 16, 2007.  The term of the Consulting Agreement currently expires on May 16, 2009.

 

By your countersignature to this letter, you hereby agree that the term of the Consulting Agreement is extended until June 17, 2011 unless terminated earlier in accordance with Section 6.B of the Consulting Agreement.  The terms and conditions of the Consulting Agreement shall remain in full force and effect during the extension period, and you are expected to continue providing the consulting services detailed in Exhibit A of the Consulting Agreement (“Exhibit A”) throughout the extension period; provided, however, that Section 1 of Exhibit A shall be amended as follows:

 

The last paragraph of Section 1 shall be deleted in its entirety and replaced with the following language:  “Throughout the extension period, Consultant will continue to serve as the Chairman of the Company’s Board of Directors until such time as a successor is duly elected.  Consultant shall devote one business day per week on site at the Company’s Cambridge, Massachusetts office or such other mutually agreed upon location.  In addition, Consultant will use best efforts to make himself available to provide timely and ongoing correspondence with the Company via e-mail or telephone, in all cases subject to the needs of the Company and his other personal and professional commitments.  In no event will Consultant be required to devote in excess of 40 hours per month (exclusive of travel time) to rendering the Services, provided that the Company and Consultant acknowledge that, as has occurred in the past, there may be key periods of activity, such as financing and business development activities, that require Consultant to devote more than 40 hours per month, however, any commitment of Consultant’s time in excess of 40 hours per month shall be agreed mutually by the Company and Consultant.”

 

In addition to the monthly fee payable to you pursuant to Section 2(A) of Exhibit A, and in addition to the continued reimbursement of your expenses pursuant to Section 2(B) of Exhibit A, as further consideration for your services to be rendered during the extension of the Consulting Agreement, subject to approval by the Board at the first regularly scheduled meeting of the Board following the date you return an executed copy of this letter to me, the Company will grant you a Non-Qualified Stock Option (the “Option”) to purchase a number of shares of

 

10

 

the Company’s common stock that, when aggregated with all other shares of the Company’s common stock owned by you or that are subject to options held by you, equals one percent (1%) of the Company’s “Fully Diluted Equity.”  As used herein, the term “Fully Diluted Equity” shall mean (i) the number of outstanding shares of capital stock of the Company calculated on an as-converted to common stock basis, plus (ii) the number of shares subject to outstanding convertible securities calculated on an as-converted to common stock basis, plus (iii) the maximum number of shares of Series A Preferred Stock issuable at the Second Closing, as defined in the Series A Convertible Preferred Stock Purchase Agreement dated as of February 11, 2009, by and among the Company and the Investors (as defined in such Stock Purchase Agreement), such that the total value of the shares of Series A Preferred Stock is $23,125,000, plus (iv) the number of shares subject to options to acquire shares of the Company’s capital stock calculated on an as-converted to common stock basis.  The per share exercise price of the Option shall equal the fair market value per share of the common stock on the date of the grant, as determined by the Board.  The Option will be deemed to have commenced vesting, and, subject to your continuing performance of your consulting services in accordance with the terms of this letter and the Consulting Agreement, will continue to vest, in forty-eight equal monthly installments commencing March 1, 2009 and continuing through and including February 1, 2013.

 

The Option shall otherwise be subject to the terms and conditions of the Company’s Amended and Restated 2007 Equity Incentive Plan.

 

In the event of a conflict between the terms of this letter and the terms specified in the Consulting Agreement, the terms of this letter shall govern.

 

If you agree with the terms of this letter and the extension of the Consulting Agreement, please sign and date this letter in the space provided below.  A duplicate original is enclosed for your records.

 

	
 
    	
Sincerely
    
	
 
    	
 
    
	
 
    	
GENOCEA   BIOSCIENCES, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mustapha Leavenworth Bakali
    
	
 
    	
Mustapha   Leavenworth Bakali
    
	
 
    	
CEO &   President
    
	
 
    	
 
    
	
 
    	
 
    
	
Agreed   to and accepted:
    	
 
    
	
 
    	
 
    
	
Signature:
    	
/s/   George R. Siber
    	
 
    
	
 
    	
George   R. Siber, M.D.
    	
 
    
	
 
    	
 
    
	
Dated   as of June 30th, 2009
    	
 
    

 

11

 

GENOCEA BIOSCIENCES, INC.

 

SECOND AMENDMENT TO CONSULTING AGREEMENT

 

This Second Amendment to Consulting Agreement (the “Amendment”) is made as of the 16th day of December, 2010 by and among Genocea Biosciences, Inc., a Delaware corporation (the “Company”) and George Siber (the “Consultant”).  Capitalized terms used herein but not otherwise defined shall have the meanings given to such terms in the Consulting Agreement (as defined below).

 

WHEREAS, the Company and the Consultant are parties to that certain Consulting Agreement, dated as of May 16, 2007, as amended on June 30, 2009 (the “Consulting Agreement”);

 

WHEREAS, the Consulting Agreement may be amended by written agreement signed by the Company and the Consultant; and

 

WHEREAS, the Company and the Consultant desire to amend the Consulting Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned agree to amend the Consulting Agreement as follows:

 

1)             Compensation.  A new paragraph 2.D shall be added at the end of Exhibit A and shall read as follows:

 

“(D) Upon the first meeting of the Company’s Board of Directors that occurs after December 16, 2010, the Company will recommend that the Company grant Consultant (at no cost to Consultant) a nonqualified stock option on terms consistent with the Company’s standard form of nonqualified stock option to purchase 526,340 shares of common stock of the Company (the “Shares”) at a price equal to the fair market value of the Shares on the date of grant, as determined by the Company’s Board of Directors in its sole discretion.  The Shares shall vest as follows:

 

(i)                                     25% of the Shares shall vest immediately.

 

(ii)                                  If (a) the Company enters into a definitive research, development, collaboration or licensing agreement (a “Development Agreement”) with Johnson & Johnson or any other party or parties by December 31, 2011, (b) the Consultant is actively involved in participating in scientific meetings and/or discussions with the other party or parties to such Development Agreement and (c) the Company receives payments from Johnson & Johnson or any other party or parties in connection with such Development Agreement that, in the aggregate, equal at least $9,000,000 (excluding R & D FTE funding) within 365 days after the date on which the Company entered into such Development Agreement, 25% of the Shares shall vest at the expiration of such 365 day period, provided, that

 

12

 

the Consultant is providing the Services on the date of vesting and provided, further, that the number of Shares vesting pursuant to this Paragraph 2(D)(i) will be pro-rated and rounded down to the nearest whole share to align with the percentage of payments received by the Company in connection with such Development Agreement within such 365 day period.  For example, if the Company receives $8,000,000 or 88.8% of the $9,000,000 within 365 days after the date on which it enters into such Development Agreement, 88.8% of the Shares that would otherwise vest in accordance with this Paragraph 2(D)(i), or 116,847 Shares, shall vest.

 

(iii)                               Upon the earlier of (1) the date that is 365 days after the date on which the Company enters into a second Development Agreement with a party or parties, other than the party or parties to the Development Agreement referenced in Paragraph 2(D)(ii), provided, that (a) such agreement is entered into no later than December 31, 2011, (b) the Consultant is actively involved in participating in scientific meetings and/or discussions with the other party or parties to such Development Agreement and (c) the Company receives payments in connection with such Development Agreement that, in the aggregate, equal at least $10,000,000 (excluding R & D FTE funding) within 365 days after entering such Development Agreement or (2) the date on which the Company receives non-dilutive funding of no less than $5,000,000, 25% of the Shares shall vest, provided that the Consulting is providing the Services on the date of vesting and provided, further, that any Shares vesting pursuant to Paragraph 2(D)(iii)(1) will be pro-rated and rounded down to the nearest whole share to align with the percentage of payments received in connection with such Development Agreement within such 365 day period.  For example, if the Company receives $8,000,000 or 80% of the $10,000,000 within 365 days after the date on which it enters into such Development Agreement, 80% of the Shares that would otherwise vest in accordance with Paragraph 2(D)(iii)(1), or 105,268 Shares, shall vest.

 

(iv)                              If the Company’s Investigational New Drug application for the HSV2-Tx program is filed with the United States Food and Drug Administration (“FDA”) and is accepted by the FDA no later than January 31, 2012, then 25% of the Shares shall vest on the date of such acceptance, provided that the Consultant is providing the Services on such date.”

 

2)             Miscellaneous.

 

a)                                     Continuation of Agreement.  Except as amended hereby, the Consulting Agreement shall remain in full force and effect.

 

b)                                     Entire Agreement.  The Consulting Agreement, as amended hereby, constitutes the entire agreement between Consultant and the Company with regard to the subject matter hereof.  The Consulting Agreement, as amended hereby, is

 

13

 

the complete, final, and exclusive embodiment of their agreement with regard to the subject matter thereof and supersedes any prior oral discussions or written communications and agreements.

 

c)                                      Severability.  Whenever possible, each provision of the Consulting Agreement, as amended hereby, will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of the Consulting Agreement, as amended hereby, is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but the Consulting Agreement, as amended hereby, and will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained in the Consulting Agreement or this Amendment.

 

d)                                     Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to conflicts of law principles thereof.

 

e)                                      Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Amendment may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally left blank.]

 

14

 

IN WITNESS WHEREOF, the parties have executed this Second Amendment to Consulting Agreement as of the date first written above.

 

 

	
 
    	
COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   William D. Clark
    
	
 
    	
Name:
    	
William   D. Clark
    
	
 
    	
Title:
    	
President   and Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CONSULTANT
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   George Siber
    
	
 
    	
Name:
    	
George   Siber
    

 

 

GENOCEA BIOSCIENCES, INC.

 

THIRD AMENDMENT TO CONSULTING AGREEMENT

 

This Third Amendment to Consulting Agreement (the “Amendment”) is made as of the 15th day of June, 2011 (the “Amendment Date”) by and between Genocea Biosciences, Inc., a Delaware corporation (the “Company”) and George Siber (the “Consultant”).  Capitalized terms used herein but not otherwise defined shall have the meanings given to such terms in the Consulting Agreement (as defined below).

 

WHEREAS, the Company and the Consultant are parties to that certain Consulting Agreement, dated as of May 16, 2007, as amended on June 30, 2009 and December 16, 2010 (the “Consulting Agreement”);

 

WHEREAS, the term of the Consulting Agreement currently expires on June 17, 2011;

 

WHEREAS, the Consulting Agreement may be amended by written agreement signed by the Company and the Consultant; and

 

WHEREAS, the Company and the Consultant desire to amend the Consulting Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned agree to amend the Consulting Agreement as follows:

 

3)             Term.  As of the Amendment Date, the term of the Consulting Agreement is extended until June 17, 2013.

 

4)             Change of Control.  A new paragraph 2.E shall be added at the end of Exhibit A and shall read as follows:

 

“(E)  All Options granted to the Consultant by the Company pursuant to the Agreement will become vested and exercisable in full if (i) the Consultant is still employed by the Company at the time of a “Change of Control” (as defined below) and (ii) within twelve (12) months following such Change of Control, the Company or its successor terminates this Agreement without “Cause” (as defined below).  For purposes of clarity, if this Agreement expires by its term within twelve (12) months following a “Change of Control” and the Company or its successor does not offer to extend the term of this Agreement on substantially the same terms as provided herein, such failure shall be considered a termination without Cause and shall result in all Options granted to the Consultant to become vested and exercisable in full pursuant to this Section (E).  The period for exercising such Options shall be as set forth in the applicable stock option plan, certificate or agreement.  All Options outstanding on the date hereof shall be deemed amended hereby to include the provisions of this Section (E).

 

 

“Change of Control” shall mean (i) a merger or consolidation in which (A) the Company is a constituent party, or (B) a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation, except in the case of either clause (A) or (B) any such merger or consolidation involving the Company or a subsidiary of the Company in which the beneficial owners of the shares of capital stock of the Company outstanding immediately prior to such merger or consolidation continue beneficially to own, immediately following such merger or consolidation, at least a majority by voting power of the capital stock of (x) the surviving or resulting corporation or (y) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; (ii) the sale, lease, transfer, exclusive license or other disposition, in a single transaction or series of related transactions, by the Company or a Company subsidiary of all or substantially all the assets of the Company and the Company subsidiaries taken as a whole (except in connection with a merger or consolidation not constituting a Change of Control under clause (i) or where such sale, lease, transfer, exclusive license or other disposition is to a wholly owned Company subsidiary); or (iii) the sale or transfer, in a single transaction or series of related transactions, by the stockholders of the Company of more than 50% by voting power of the then-outstanding capital stock of the Company to any person or entity or group of affiliated persons or entities.

 

“Cause” shall mean: (i) commission of, or indictment or conviction of, any felony or any other crime involving dishonesty; (ii) participation in any fraud, deliberate and substantial misconduct, breach of duty of loyalty or breach of fiduciary duty against the Company; (iii) intentional and substantial damage to any property of the Company; (iv) serious misconduct by the Consultant; (v) unsatisfactory performance of the Consultant’s duties; or (vi) the Consultant’s breach of any material provision of this Agreement, the invention and non-disclosure agreement or non-competition and non-solicitation agreement executed by the Consultant with the Company.

 

5)             Miscellaneous.

 

a)                                     Continuation of Agreement.  Except as amended hereby, the Consulting Agreement shall remain in full force and effect.

 

b)                                     Entire Agreement.  The Consulting Agreement, as amended hereby, constitutes the entire agreement between Consultant and the Company with regard to the subject matter hereof.  The Consulting Agreement, as amended hereby, is the complete, final, and exclusive embodiment of their agreement with regard to the subject matter thereof and supersedes any prior oral discussions or written communications and agreements.

 

c)                                      Severability.  Whenever possible, each provision of the Consulting Agreement, as amended hereby, will be interpreted in such manner as to be effective and

 

 

valid under applicable law, but if any provision of the Consulting Agreement, as amended hereby, is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but the Consulting Agreement, as amended hereby, and will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained in the Consulting Agreement or this Amendment.

 

d)                                     Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to conflicts of law principles thereof.

 

e)                                      Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Amendment may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally left blank.]

 

 

IN WITNESS WHEREOF, the parties have executed this Third Amendment to Consulting Agreement as of the date first written above.

 

 

	
 
    	
COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   William D. Clark
    
	
 
    	
Name:
    	
William   D. Clark
    
	
 
    	
Title:
    	
President &   CEO
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CONSULTANT
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   George Siber
    
	
 
    	
Name:
    	
George   Siber
    

 

 

GENOCEA BIOSCIENCES, INC.

 

FOURTH AMENDMENT TO CONSULTING AGREEMENT

 

This Fourth Amendment to Consulting Agreement (the “Amendment”) is made as of the 5th day of June, 2013 (the “Amendment Date”) by and between Genocea Biosciences, Inc., a Delaware corporation (the “Company”) and George Siber (the “Consultant”).  Capitalized terms used herein but not otherwise defined shall have the meanings given to such terms in the Consulting Agreement (as defined below).

 

WHEREAS, the Company and the Consultant are parties to that certain Consulting Agreement, dated as of May 16, 2007, as amended on June 30, 2009 and December 16, 2010 (the “Consulting Agreement”);

 

WHEREAS, the term of the Consulting Agreement currently expires on June 17, 2013;

 

WHEREAS, the Consulting Agreement may be amended by written agreement signed by the Company and the Consultant; and

 

WHEREAS, the Company and the Consultant desire to amend the Consulting Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the undersigned agree to amend the Consulting Agreement as follows:

 

6)             Term.  As of the Amendment Date, the term of the Consulting Agreement is extended until June 17, 2015.

 

7)             Miscellaneous.

 

a)                                     Continuation of Agreement.  Except as amended hereby, the Consulting Agreement shall remain in full force and effect.

 

b)                                     Entire Agreement.  The Consulting Agreement, as amended hereby, constitutes the entire agreement between Consultant and the Company with regard to the subject matter hereof.  The Consulting Agreement, as amended hereby, is the complete, final, and exclusive embodiment of their agreement with regard to the subject matter thereof and supersedes any prior oral discussions or written communications and agreements.

 

c)                                      Severability.  Whenever possible, each provision of the Consulting Agreement, as amended hereby, will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of the Consulting Agreement, as amended hereby, is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but the Consulting Agreement, as amended hereby, and will be reformed, construed and enforced in such

 

 

jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained in the Consulting Agreement or this Amendment.

 

d)                                     Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without regard to conflicts of law principles thereof.

 

e)                                      Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  This Amendment may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

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IN WITNESS WHEREOF, the parties have executed this Fourth Amendment to Consulting Agreement as of the date first written above.

 

 

	
 
    	
COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Robert E. Farrell, Jr.
    
	
 
    	
Name:
    	
Robert   E. Farrell, Jr.
    
	
 
    	
Title:
    	
VP   Finance and Admin
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CONSULTANT
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   George R. Siber
    
	
 
    	
Name:
    	
George   Siber

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