Document:

EX-10.16

 Exhibit 10.16 

 
 

 
 September 27, 2011 
 Personal and Confidential 
 Ms. Linda Bain 

68 Hancock Street 
 Lexington, MA 02420

 Dear Linda; 
 I am
very pleased to provide you with a summary of the terms and conditions of your anticipated employment by bluebird bio, Inc. (the “Company”). The following outlines the terms and conditions of your offer of employment. We hope that you will
help further build a meaningful company that helps the lives of many patients in need! 
 Your position will be Vice President,
Finance and Business Operations, reporting to Jeff Walsh, Chief Operating Officer. As our employee, we expect that you will devote substantially all of your working time to the performance of your duties to the Company, and you will perform any and
all duties and responsibilities normally associated with your position in a satisfactory manner and to the best of your abilities at all times. If you accept this offer, your employment with the Company will begin on Wednesday, October 19, 2011
(the “Commencement Date”). 
 Please note, however, that no provision of this letter shall be construed to create an
express or implied employment contract, or a promise of employment for any specific period of time. Your employment with the Company is at-will employment which may be terminated by you or the company at any time for any reason with or without
advance notice. Here is a summary of the terms: 
  

	 	•	 	 Your initial salary will be $8,269.23 paid on a bi-weekly basis, which is an annualized rate of $215,000 and payable in substantially equal periodic
installments in accordance with Company’s normal payroll practices as in effect from time to time (the “Base Salary”). The Company will deduct from each such installment of the Base Salary all amounts required to be deducted or
withheld under applicable law or under any employee benefit plan in which you participate. You understand and agree that the annualized base rate described above is set forth as a matter of convenience and does not constitute nor will be deemed to
constitute an agreement by the Company to employ you for any specific period of time. 

  

	 	•	 	 Subject to approval by the Company’s Board of Directors (or an appropriate Committee appointed by the Board of Directors), the Company will grant
you options to purchase 1,242,650 shares of common stock in the Company at the then-current fair market value, pursuant to the terms of the Company’s Third Amended and Restated Employee, Director and Consultant Stock Plan.

  
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	 	•	 	 You will also be eligible to participate fully in employee benefit plans that the Company provides or may establish for the benefit of its employees
generally. Your eligibility to participate in these plans and receive benefits thereunder will be subject to the plan documents governing such benefits. Notwithstanding the foregoing, you understand and agree that nothing contained herein will
require the Company to establish or maintain any fringe benefits and any such benefits may be modified, amended, terminated or cancelled at any time by the Company in its sole and absolute discretion. 

Because your employment with the Company is on an “at-will” basis, either you or the Company may terminate the employment
relationship at any time, for any or no reason. As a condition of your employment, you certify to the Company that you are free to enter into and fully perform the duties of your position and that you are not subject to any employment,
confidentiality, non-competition or other agreement that would restrict your performance for the Company. You further certify that your signing this letter of employment does not violate any order, judgment or injunction applicable to you, or
conflict with or breach any agreement to which you are a party or by which you are bound. If you are subject to any such agreement or order, please forward it to Nick Leschly along with a copy of this letter. 

Additionally, as a condition of your employment, you also certify that all facts you have presented to the Company are accurate and true.
This includes, but is not limited to, all oral and written statements you have made (including those pertaining to your education, training, qualifications, licensing and prior work experience), resume or c.v., or in any interview or discussion with
the Company 
 The Company considers the protection of its confidential information, proprietary materials and goodwill to be
extremely important. Accordingly, you will be required to sign and return an agreement relating to confidentiality, non-competition and work product on or before your first day of work, as a condition of this offer of employment (the
“Assignment of Invention, Nondisclosure and Noncompetition Agreement”). A copy of the Assignment of Invention, Nondisclosure and Noncompetition Agreement is enclosed for your consideration and signature. 

Your employment with the Company is also conditioned on your eligibility to work in the United States. On your first day, you must
complete an I-9 Form and provide us with any of the accepted forms of identification specified on the I-9 Form. A copy of an I-9 Form is enclosed for your information. 
 This letter constitutes our entire offer regarding the terms and conditions of your prospective employment with the Company. It supersedes any prior agreements, or other promises or statements (whether
oral or written) regarding the offered terms of employment. 
 The terms of your employment shall be governed by the law of
Massachusetts. By accepting this offer of employment, you agree that any action, demand, claim or counterclaim in connection with any aspect of your employment with the Company, or any separation of employment (whether voluntary or involuntary) from
the Company, shall be resolved in a court of competent jurisdiction in Massachusetts by a judge alone, and you waive and forever renounce your right to a trial before a civil jury. 

  
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 You may accept this offer of employment and the terms and conditions hereof by signing the
enclosed additional copy of this letter. Your signature on the copy of this letter and your submission of the signed copy to me will evidence your agreement with the terms and conditions set forth herein. This offer will expire on Friday,
September 30, 2011 unless accepted by you prior to such date by directing the signed offer letter to my attention with two signed copies of the Assignment of Invention, Nondisclosure and Noncompetition Agreement. 

Linda, we are pleased to offer you the opportunity to join the Company, and we look forward to having you aboard. We are confident that you will continue
to make important contributions to our unique and exciting opportunity to make a difference in bringing important new therapies to patients who need them. 

 

	
	Sincerely,
	
	/s/ Jeffrey T. Walsh
	 Jeff Walsh
 Chief Operating
Officer

  

	
	Acknowledged And Agreed:
	
	/s/ Linda Bain
	 Linda Bain
  

9/28/11

	Date

  

	Enclosures:	       Copy of Offer Letter 

     I-9 Form 
     Assignment of
Invention, Nondisclosure and Noncompetition Agreement (2) 
     Employee Benefits Summary 

  
 3EX-10.17

 Exhibit 10.17 
 BLUEBIRD BIO, INC. 
  

 
 2013 EMPLOYEE
STOCK PURCHASE PLAN 
 The purpose of the bluebird bio, Inc. 2013 Employee Stock Purchase Plan (“the Plan”) is to
provide eligible employees of bluebird bio, Inc. (the “Company”) and each Designated Subsidiary (as defined in Section 11) with opportunities to purchase shares of the Company’s common stock, par value $0.01 per share (the
“Common Stock”). Two hundred thirty-eight thousand (238,000) shares of Common Stock in the aggregate have been approved and reserved for this purpose. The Plan is intended to constitute an “employee stock purchase plan” within
the meaning of Section 423(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be interpreted in accordance with that intent. 
 1. Administration. The Plan will be administered by the person or persons (the “Administrator”) appointed by the Company’s Board of Directors (the “Board”) for such
purpose. The Administrator has authority at any time to: (i) adopt, alter and repeal such rules, guidelines and practices for the administration of the Plan and for its own acts and proceedings as it shall deem advisable; (ii) interpret
the terms and provisions of the Plan; (iii) make all determinations it deems advisable for the administration of the Plan; (iv) decide all disputes arising in connection with the Plan; and (v) otherwise supervise the administration of
the Plan. All interpretations and decisions of the Administrator shall be binding on all persons, including the Company and the Participants. No member of the Board or individual exercising administrative authority with respect to the Plan shall be
liable for any action or determination made in good faith with respect to the Plan or any option granted hereunder. 

 2. Offerings. The Company will make one or more offerings to
eligible employees to purchase Common Stock under the Plan (“Offerings”). Unless otherwise determined by the Administrator, the initial Offering will begin on January 1st of the year designated by the Administrator and will end on the following June 30th (the “Initial Offering”). Thereafter, unless otherwise
determined by the Administrator, an Offering will begin on the first business day occurring on or after each January
1st and July 1st and will end on the last business day occurring on or before the
following June 30th and December 31st, respectively. The Administrator may, in its discretion, designate a
different period for any Offering, provided that no Offering shall exceed six months in duration or overlap any other Offering. 
 3. Eligibility. All individuals classified as employees on the payroll records of the Company and each Designated Subsidiary are eligible to participate in any one or more of the Offerings under
the Plan, provided that as of the first day of the applicable Offering (the “Offering Date”) they are customarily employed by the Company or a Designated Subsidiary for more than 20 hours a week and have completed at least six
months of employment. Notwithstanding any other provision herein, individuals who are not contemporaneously classified as employees of the Company or a Designated Subsidiary for purposes of the Company’s or applicable Designated
Subsidiary’s payroll system are not considered to be eligible employees of the Company or any Designated Subsidiary and shall not be eligible to participate in the Plan. In the event any such individuals are reclassified as employees of the
Company or a Designated Subsidiary for any purpose, including, without limitation, common law or statutory employees, by any action of any third party, including, without limitation, any government agency, or as a result of any private lawsuit,
action or administrative proceeding, such individuals shall, notwithstanding such reclassification, remain ineligible for participation. 

  
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Notwithstanding the foregoing, the exclusive means for individuals who are not contemporaneously classified as employees of the Company or a Designated Subsidiary on the Company’s or
Designated Subsidiary’s payroll system to become eligible to participate in this Plan is through an amendment to this Plan, duly executed by the Company, which specifically renders such individuals eligible to participate herein. 

4. Participation. 
 (a) An eligible employee who is not a Participant on any Offering Date may participate in such Offering by submitting an enrollment form to his or her appropriate payroll location at least 15 business
days before the Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). 
 (b)
Enrollment. The enrollment form will (a) state a whole percentage to be deducted from an eligible employee’s Compensation (as defined in Section 11) per pay period, (b) authorize the purchase of Common Stock in each
Offering in accordance with the terms of the Plan and (c) specify the exact name or names in which shares of Common Stock purchased for such individual are to be issued pursuant to Section 10. An employee who does not enroll in accordance
with these procedures will be deemed to have waived the right to participate. Unless a Participant files a new enrollment form or withdraws from the Plan, such Participant’s deductions and purchases will continue at the same percentage of
Compensation for future Offerings, provided he or she remains eligible. 
 (c) Notwithstanding the foregoing, participation in
the Plan will neither be permitted nor be denied contrary to the requirements of the Code. 

  
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 5. Employee Contributions. Each eligible employee may authorize payroll deductions at
a minimum of 1 percent up to a maximum of 10 percent of such employee’s Compensation for each pay period. The Company will maintain book accounts showing the amount of payroll deductions made by each Participant for each Offering. No
interest will accrue or be paid on payroll deductions. 
 6. Deduction Changes. Except as may be determined by the
Administrator in advance of an Offering, a Participant may not increase or decrease his or her payroll deduction during any Offering, but may increase or decrease his or her payroll deduction with respect to the next Offering (subject to the
limitations of Section 5) by filing a new enrollment form at least 15 business days before the next Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). The Administrator may, in advance of
any Offering, establish rules permitting a Participant to increase, decrease or terminate his or her payroll deduction during an Offering. 
 7. Withdrawal. A Participant may withdraw from participation in the Plan by delivering a written notice of withdrawal to his or her appropriate payroll location. The Participant’s withdrawal
will be effective as of the next business day. Following a Participant’s withdrawal, the Company will promptly refund such individual’s entire account balance under the Plan to him or her (after payment for any Common Stock purchased
before the effective date of withdrawal). Partial withdrawals are not permitted. Such an employee may not begin participation again during the remainder of the Offering, but may enroll in a subsequent Offering in accordance with Section 4.

 8. Grant of Options. On each Offering Date, the Company will grant to each eligible employee who is then a Participant
in the Plan an option (“Option”) to purchase on the last day of such Offering (the “Exercise Date”), at the Option Price hereinafter provided for, the lowest of (a) a number of shares of Common Stock determined by dividing
such Participant’s accumulated 

  
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payroll deductions on such Exercise Date by the Option Price (as defined herein), (b) one thousand (1,000) shares; or (c) such other lesser maximum number of shares as shall have
been established by the Administrator in advance of the Offering; provided, however, that such Option shall be subject to the limitations set forth below. Each Participant’s Option shall be exercisable only to the extent of such
Participant’s accumulated payroll deductions on the Exercise Date. The purchase price for each share purchased under each Option (the “Option Price”) will be 85 percent of the Fair Market Value of the Common Stock on the Offering Date
or the Exercise Date, whichever is less. 
 Notwithstanding the foregoing, no Participant may be granted an Option hereunder if
such Participant, immediately after the Option was granted, would be treated as owning stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company or any Parent or Subsidiary (as
defined in Section 11). For purposes of the preceding sentence, the attribution rules of Section 424(d) of the Code shall apply in determining the stock ownership of a Participant, and all stock which the Participant has a contractual
right to purchase shall be treated as stock owned by the Participant. In addition, no Participant may be granted an Option which permits his or her rights to purchase stock under the Plan, and any other employee stock purchase plan of the Company
and its Parents and Subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of such stock (determined on the Option grant date or dates) for each calendar year in which the Option is outstanding at any time. The purpose of
the limitation in the preceding sentence is to comply with Section 423(b)(8) of the Code and shall be applied taking Options into account in the order in which they were granted. 

  
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 9. Exercise of Option and Purchase of Shares. Each employee who continues to be a
Participant in the Plan on the Exercise Date shall be deemed to have exercised his or her Option on such date and shall acquire from the Company such number of whole shares of Common Stock reserved for the purpose of the Plan as his or her
accumulated payroll deductions on such date will purchase at the Option Price, subject to any other limitations contained in the Plan. Any amount remaining in a Participant’s account at the end of an Offering solely by reason of the inability
to purchase a fractional share will be carried forward to the next Offering; any other balance remaining in a Participant’s account at the end of an Offering will be refunded to the Participant promptly. 

10. Issuance of Certificates. Certificates representing shares of Common Stock purchased under the Plan may be issued only in the
name of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or in the name of a broker authorized by the employee to be his, her or their, nominee for such purpose. 

11. Definitions. 
 The term “Compensation” means the amount of base pay, prior to salary reduction pursuant to Sections 125, 132(f) or 401(k) of the Code, but excluding overtime, commissions, incentive or
bonus awards, allowances and reimbursements for expenses such as relocation allowances or travel expenses, income or gains on the exercise of Company stock options, and similar items. 

The term “Designated Subsidiary” means any present or future Subsidiary (as defined below) that has been designated by the
Board to participate in the Plan. The Board may so designate any Subsidiary, or revoke any such designation, at any time and from time to time, either before or after the Plan is approved by the stockholders.  

  
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 The term “Fair Market Value of the Common Stock” on any given date means the fair
market value of the Common Stock determined in good faith by the Administrator; provided, however, that if the Common Stock is admitted to quotation on the National Association of Securities Dealers Automated Quotation System
(“NASDAQ”), NASDAQ Global Market or another national securities exchange, the determination shall be made by reference to the closing price on such date. If there is no closing price for such date, the determination shall be made by
reference to the last date preceding such date for which there is a closing price. 
 The term “Initial Public
Offering” means the consummation of the first underwritten firm commitment public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale by the Company of its Common
Stock. 
 The term “Parent” means a “parent corporation” with respect to the Company, as defined in
Section 424(e) of the Code. 
 The term “Participant” means an individual who is eligible as determined in
Section 3 and who has complied with the provisions of Section 4. 
 The term “Subsidiary” means a
“subsidiary corporation” with respect to the Company, as defined in Section 424(f) of the Code. 
 12. Rights
on Termination of Employment. If a Participant’s employment terminates for any reason before the Exercise Date for any Offering, no payroll deduction will be taken from any pay due and owing to the Participant and the balance in the
Participant’s account will be paid to such Participant or, in the case of such Participant’s death, to his or her designated beneficiary as if such Participant had withdrawn from the Plan under Section 7. An employee will be deemed to
have terminated employment, for this purpose, if the corporation that employs him or her, having been a Designated Subsidiary, ceases to be a Subsidiary, or if the employee is transferred to any corporation other than the Company or a Designated
Subsidiary. An employee will not be deemed to have terminated employment for this purpose, if the employee is on an approved leave of absence for military service or sickness or for any other purpose approved by the Company, if the employee’s
right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise provides in writing. 

  
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 13. Special Rules. Notwithstanding anything herein to the contrary, the Administrator
may adopt special rules applicable to the employees of a particular Designated Subsidiary, whenever the Administrator determines that such rules are necessary or appropriate for the implementation of the Plan in a jurisdiction where such Designated
Subsidiary has employees; provided that such rules are consistent with the requirements of Section 423(b) of the Code. Any special rules established pursuant to this Section 13 shall, to the extent possible, result in the employees subject
to such rules having substantially the same rights as other Participants in the Plan. 
 14. Optionees Not Stockholders.
Neither the granting of an Option to a Participant nor the deductions from his or her pay shall constitute such Participant a holder of the shares of Common Stock covered by an Option under the Plan until such shares have been purchased by and
issued to him or her. 
 15. Rights Not Transferable. Rights under the Plan are not transferable by a Participant other
than by will or the laws of descent and distribution, and are exercisable during the Participant’s lifetime only by the Participant. 

  
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 16. Application of Funds. All funds received or held by the Company under the Plan
may be combined with other corporate funds and may be used for any corporate purpose. 
 17. Adjustment in Case of Changes
Affecting Common Stock. In the event of a subdivision of outstanding shares of Common Stock, the payment of a dividend in Common Stock or any other change affecting the Common Stock, the number of shares approved for the Plan and the share
limitation set forth in Section 8 shall be equitably or proportionately adjusted to give proper effect to such event. 

18. Amendment of the Plan. The Board may at any time and from time to time amend the Plan in any respect, except that without the
approval within 12 months of such Board action by the stockholders, no amendment shall be made increasing the number of shares approved for the Plan or making any other change that would require stockholder approval in order for the Plan, as
amended, to qualify as an “employee stock purchase plan” under Section 423(b) of the Code. 
 19. Insufficient
Shares. If the total number of shares of Common Stock that would otherwise be purchased on any Exercise Date plus the number of shares purchased under previous Offerings under the Plan exceeds the maximum number of shares issuable under the
Plan, the shares then available shall be apportioned among Participants in proportion to the amount of payroll deductions accumulated on behalf of each Participant that would otherwise be used to purchase Common Stock on such Exercise Date.

 20. Termination of the Plan. The Plan may be terminated at any time by the Board. Upon termination of the Plan, all
amounts in the accounts of Participants shall be promptly refunded. 

  
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 21. Governmental Regulations. The Company’s obligation to sell and deliver
Common Stock under the Plan is subject to obtaining all governmental approvals required in connection with the authorization, issuance, or sale of such stock. 
 22. Governing Law. This Plan and all Options and actions taken thereunder shall be governed by, and construed in accordance with, the laws of the State of Delaware, applied without regard to
conflict of law principles. 
 23. Issuance of Shares. Shares may be issued upon exercise of an Option from authorized
but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source. 
 24. Tax
Withholding. Participation in the Plan is subject to any minimum required tax withholding on income of the Participant in connection with the Plan. Each Participant agrees, by entering the Plan, that the Company and its Subsidiaries shall have
the right to deduct any such taxes from any payment of any kind otherwise due to the Participant, including shares issuable under the Plan. 
 25. Notification Upon Sale of Shares. Each Participant agrees, by entering the Plan, to give the Company prompt notice of any disposition of shares purchased under the Plan where such disposition
occurs within two years after the date of grant of the Option pursuant to which such shares were purchased. 
 26. Effective
Date and Approval of Shareholders. The Plan shall take effect on the date of the Company’s Initial Public Offering, subject to approval by the holders of a majority of the votes cast at a meeting of stockholders at which a quorum is present
or by written consent of the stockholders. 

  
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