Document:

EX-10.11

 Exhibit 10.11 

GeNO, LLC 
 OPTION AGREEMENT

 This Option Agreement (the “Agreement”) is entered into as of October
        , 2013 by and between GeNO, LLC, a Delaware limited liability company (the “Company”), and
                     (the “Optionee”). 

Introduction 
 Pursuant to
the Company’s Eighth Amended and Restated Limited Liability Company Agreement, dated as of September 20, 2013 (as further amended from time to time, the “LLC Agreement”), the Company has adopted its 2007 Incentive Common
Share Plan, originally adopted as of August 7, 2007 (as amended to date, the “Plan”). Pursuant to the Plan, the Committee has authorized the grant of options to acquire the Company’s Incentive Common Shares (the
“Common Shares”). Capitalized terms used herein and not defined shall have the meanings given to them in the Plan. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Optionee agree as follows: 

1. Grant of Option. The Company hereby grants to the Optionee an option (the “Option”) to purchase an aggregate
of up to                      Common Shares, subject to the terms and conditions of this Agreement and the Plan. The exercise price for each
of the Common Shares subject to this Option is $5.25. 
 2. Vesting. 

(a) Time Based Vesting. The Vesting Start Date of this Option is
[            ]. Subject to the other provisions of this Agreement, so long as the Optionee maintains a business relationship with the Company or any Related Company through the following
dates, the Common Shares subject to this Option shall vest in four equal installments of 25% annually on the anniversary of the Vesting Start Date. Upon the occurrence of a Termination Event (as defined below), unless the Company otherwise agrees in
writing to the Optionee, only the Common Shares subject to this Option that have vested prior to the Termination Event pursuant to the prior sentence may be exercised by the Optionee as set forth in Section 3. A “Termination
Event” means any of the following: (i) the Optionee’s death, (ii) the Optionee’s Disability (as defined below) or (iii) termination of Optionee’s employment or non-employee consulting or other non-employee
service relationship with the Company or any Related Company. The term “Disability” shall mean, and the Optionee shall be deemed to have a “Disability” and his provision of services to the Company terminated on account
thereof, and such termination will be deemed a Termination Event, if the Optionee has been unable to substantially perform the duties assigned to him by the Board of Managers (the “Board”) or a Manager due to physical or mental
incapacity and such incapacity has lasted for (i) an aggregate of 120 days during any 12-month period or (ii) 90 consecutive days during any 12-month period. 

 (b) Liquidation Event. If there has been no Termination Event prior to a
Liquidation Event (as defined in the LLC Agreement), one hundred percent (100%) of the Common Shares subject to this Option shall become vested at the time of a Liquidation Event. 

3. Exercise of Option. 

(a) General. This Option is only exercisable for Common Shares that have vested under the provisions of this Agreement. 

(b) Timing of Exercise of Option. Under no circumstances may this Option be exercised more than ten (10) years after the
date hereof, unless otherwise determined by the Committee. This Option shall become null and void if not exercised within the time periods required by this Section 3(b). 

(i) Termination Due to Death. If the Optionee’s employment terminates by reason of the Optionee’s
death, this Option may be exercised, to the extent exercisable on the date of death, by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the date the Option expires, if earlier. 

(ii) Termination Due to Disability. If the Optionee’s employment terminates by reason of the Optionee’s
Disability (as determined by the Committee), this Option may be exercised, to the extent exercisable on the date of termination, by the Optionee for a period of 12 months from the date of termination or until the Option expires, if earlier. The
death of the Optionee during the 12-month period provided in this Section 3(b) shall extend such period for another 12 months from the date of death or until the date the Option expires, if earlier. 

(iii) Termination for Misconduct. If the Optionee’s employment terminates for Misconduct, this Option shall
terminate immediately as of termination and be of no further force and effect. For purposes hereof, “Misconduct” shall mean shall mean any one or more of the following: (a) the commission of an act of embezzlement, fraud or
dishonesty; (b) the deliberate disregard of the rules or policies of the Company or any of its affiliates which results in material loss, damage or injury to the Company or any affiliate, whether directly or indirectly; (c) the
unauthorized disclosure of any trade secret or confidential information of the Company or any of its affiliates; (d) the material breach by the Optionee of any agreement with the Company or any of its affiliates, including without limitation
any non-disclosure or non-competition agreement between the Optionee and the Company or any of its affiliates; or (e) the willful and continuing or repeated failure by the Optionee to perform his or her material responsibilities to the Company
or any of its affiliates. 
 (iv) Other Termination. If there occurs a Termination Event other than the
Optionee’s death or Disability, or Misconduct, and unless otherwise determined by the Committee, any portion of this Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three
months from the date of termination or until the date the Option expires, if earlier. Any portion of this Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 

  
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 The Committee’s determination of the reason for termination of the Optionee’s
employment shall be conclusive and binding on the Optionee and the Optionee’s representatives or legatees. 
 (c) Exercise
Procedure. Subject to the conditions set forth herein and in the Plan, the Option may be exercised by the Optionee’s delivery of written notice to the Company specifying the number of Common Shares to be purchased and the purchase price
therefor, accompanied by payment in full and any amounts described in Section 3(f) hereof. 
 (d) Payment of Purchase Price
Prior to Initial Public Offering. Prior to the closing of an Initial Public Offering, the price for Common Shares purchased hereunder shall be paid by delivery to the Company of (i) cash or a check to the order of the Company, or
(ii) any other lawful consideration approved in writing by the Committee. The Company shall, upon receipt of payment in full for Common Shares properly purchased hereunder and any amounts described in Section 3(f) hereof, promptly issue
the Common Shares. 
 (e) Payment of Purchase Price On or After the Closing of an Initial Public Offering. 

(i) On or after the closing of an Initial Public Offering, payment of the purchase price for the Common Shares may be
made by one or more of the following methods: (a) in cash, by certified or bank check or other instrument acceptable to the Committee; (b) through the delivery (or attestation to the ownership) of the Common Shares that have been purchased
by the Optionee on the open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Committee; (c) by the
Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price,
provided that in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Committee
shall prescribe as a condition of such payment procedure; or (d) a combination of (a), (b) and (c) above. Payment instruments will be received subject to collection. 

The transfer to the Optionee on the records of the Company or of the transfer agent of the Common Shares will be contingent upon the
Company’s receipt from the Optionee (or a purchaser acting in the Optionee’s stead in accordance with the provisions of the Option) of (i) full payment for the Common Shares, as set forth above, (ii) any amounts described in
Section 3(f) hereof, and (iii) any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Common Shares to be purchased pursuant to the exercise of Options under the Plan and any
subsequent resale of the Common Shares will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the purchase price by previously-owned Common 

  
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Shares through the attestation method, the number of Common Shares transferred to the Optionee upon exercise of the Option shall be net of the number of Common Shares attested to. In the event
that the Company establishes, for itself or using the services of a third party, an automated system for the exercise of Options, such as a system using an internet website or interactive voice response, then the paperless exercise of Options may be
permitted through the use of such an automated system. 
 (ii) The Common Shares purchased upon exercise of this
Option shall be transferred to the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such issuance and
with the requirements hereof and of the Plan. The determination of the Committee as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with
respect to, any Common Shares subject to this Option unless and until this Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the Common Shares to the Optionee, and the
Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such Common Shares. 

(iii) The minimum number of Common Shares with respect to which this Option may be exercised at any one time shall be
100 Common Shares, unless the number of Common Shares with respect to which this Option is being exercised is the total number of Common Shares subject to exercise under this Option at the time. 

(iv) Notwithstanding any other provision hereof or of the Plan, no portion of this Option shall be exercisable after the
date the Option expires, as provided herein. 
 (f) Tax Withholding. The Company’s obligation to issue such Common Shares
is also subject to the satisfaction of all applicable tax withholding requirements, which shall be satisfied by the remittance by the Optionee to the Company of the required taxes prior to the issuance of the Common Shares or in such other
reasonable manner as may be acceptable to the Company. 
 4. LLC Agreement. Prior to the closing of an Initial Public
Offering, if the Optionee or other holder of this Option is not already a party to the LLC Agreement, the Optionee’s right to exercise this Option and the Company’s obligation to issue Common Shares upon exercise of this Option are subject
to the execution by the Optionee (or other holder of this Option) of a supplemental signature page or instrument of accession to the LLC Agreement in a form required by the Company pursuant to which the Optionee (or other holder of this Option)
becomes a party to and bound by the LLC Agreement as a “Member” (as such term is defined in the LLC Agreement). 

  
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 5. Noncompetition and Confidentiality Covenants. The Optionee hereby reaffirms any
and all noncompetition and confidentiality covenants with the Company or any Related Company, the terms of which are incorporated by reference herein. 

6. Miscellaneous. 

(a) This Agreement shall be subject in all respects to the terms of the Plan, and the Optionee and the Optionee’s transferees
shall be bound by the terms of the Plan as if incorporated into this Agreement in their entirety. In the event of a conflict between the terms of this Agreement and the Plan, the terms of the Plan shall govern. This Agreement and the Plan constitute
the final and entire agreement with respect to the matters contemplated hereby and replace and supercede all other agreements and understandings relating hereto. 

(b) This Agreement shall be interpreted in such a manner as to be effective and valid under applicable law, but if any provision hereof
shall be prohibited or invalid under any such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating or nullifying the remainder of such provision or any other provisions of this Agreement. The
captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement. 

(c) Except as provided herein, this Agreement may not be amended or modified except in a writing signed by the Company and the
Optionee. No waiver of this Agreement or any provision hereof shall be binding upon the party against whom enforcement of such waiver is sought unless it is made in writing and signed by or on behalf of such party. The waiver by either party of a
breach of any provision of this Agreement by the other party shall not operate and be construed as a waiver or a continuing waiver by that party of the same or any subsequent breach of any provision of this Agreement by the other party. No delay or
omission by any party in exercising any right under this Agreement shall operate as a waiver of that or any other right. 
 (d) All
notices under this Agreement shall be sent by certified mail, return receipt requested, or by recognized overnight delivery service, or delivered by hand (i) if to the Company, to the Company’s headquarters address, or (ii) if to the
Optionee, at the Optionee’s address set forth below or at such other address as may be designated in writing by either of the parties to one another in accordance with this Section. 

(e) This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. The Optionee waives any
right to a trial by jury in the event of any legal proceeding arising out of or relating to this Agreement. 
 (f) This Agreement may
be executed in counterparts, including counterpart signature pages and counterparts by facsimile, each of which taken together shall be deemed an original, but all of which shall constitute one and the same instrument. 

[Remainder of this Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, this Option has been executed as of the date first set forth above. 

 

			
	GeNO, LLC
		
	By	 	 
	Name:	 	
	Title:	 	

 The undersigned Optionee hereby accepts this Option and agrees to the terms and conditions thereof and
of the Plan, and acknowledges receipt of a copy of the Plan. 

			
	
	 
		
	Name:	 	 
	  
 ADDRESS:

	
	 
	
	 
	
	 

 [Signature Page to Option Agreement]EX-10.17

 Exhibit 10.17 

THIS WARRANT AND THE COMMON SHARES WHICH MAY BE PURCHASED UPON THE EXERCISE OF THIS WARRANT HAVE BEEN ACQUIRED SOLELY FOR INVESTMENT AND HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH SALE, OFFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE ACT AND OF ANY APPLICABLE STATE SECURITIES LAWS. 

GENO LLC 
 FORM OF COMMON SHARES
WARRANT 
  

			
	CS-    	  	
Issued as of                     , 
2013
 Void after the Expiration Date

 WARRANT TO PURCHASE COMMON SHARES 

For value received, GeNO LLC, a Delaware limited liability company (the “Company”), hereby certifies that
                 (the “Holder”), subject to the provisions and upon the terms and conditions hereinafter set forth, is entitled to subscribe for and
purchase from the Company, at any time after the date hereof and before the Expiration Date (as defined below), up to                  Common Shares of the Company (the
“Shares”). This Warrant is issued by the Company pursuant to a Subscription Agreement, of even date herewith, by and between the Company and the Holder (the “Subscription Agreement”). In the event that the Company
converts to a corporation pursuant to Section 13 of the Company Operating Agreement, the successor corporation shall issue to the Holder a replacement warrant containing terms and conditions substantially similar to this Warrant. Upon the
issuance of such replacement warrant, this Warrant shall automatically terminate and no longer be of any force or effect. 
 1.
Definitions. As used in this Warrant: 
 “Company Operating Agreement” means that certain Eighth
Amended and Restated Limited Liability Company Agreement of the Company, dated as of September 20, 2013, as the same may be amended from time to time. 

“Exercise Price” means $5.25 per Share. 

“Expiration Date” means the earlier of (a) a Liquidation Event or (b) September 30, 2018. 

“Liquidation Event” shall have the meaning ascribed to it in the Company Operating Agreement. 

 “Person” means an individual, firm, corporation, partnership,
association, limited liability company, trust, governmental entity or any other entity. 
 “Securities Act”
means the Securities Act of 1933, as amended. 
 2. Method of Exercise and Payment; Conditions to Exercise. 

(a) Method of Exercise and Payment. The purchase rights represented by this Warrant may be exercised by the Holder, in whole or in
part, by the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A duly executed) at the principal office of the Company, and by the payment to the Company, by wire transfer of immediately available
funds, of an amount equal to the aggregate Exercise Price of the Shares being purchased. 
 (b) Conditions to Exercise. As a
condition to the exercise of this Warrant (unless otherwise waived in writing by the Company), the Holder shall reaffirm the representations and warranties as provided in Section 5 of this Warrant. 

(c) Fractional Shares. This Warrant may not be exercised for fractional shares. 

3. Shares Fully Paid. All of the Shares issuable upon the exercise of the rights represented by this Warrant will, upon issuance and
receipt of the Exercise Price therefor, be fully paid and nonassessable, and free from all taxes, liens, claims, encumbrances and charges with respect to the issue thereof provided the Shares are issued to the registered Holder. 

4. Adjustment of Exercise Price and Number of Common Shares. The number and kind of securities purchasable upon the exercise of this
Warrant and the Exercise Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (a)
Reclassification or Merger. In case of any reclassification or change of securities of the class issuable upon exercise of this Warrant, or in case of any merger of the Company with or into another corporation (other than a merger with
another entity in which the Company is the acquiring and the surviving entity and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this Warrant), or in case of any sale of all or
substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the Holder a new Warrant (in form and substance satisfactory to the Holder), so that the
Holder shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the Common Shares theretofore issuable upon
exercise of this Warrant, (i) the kind and amount of units, shares of stock, other securities, money and property receivable upon such reclassification, change, merger or sale by a holder of the number of Common Shares then purchasable under
this Warrant, or (ii) in the case of such a merger or sale in which the consideration paid consists all or in part of assets other than securities of the successor or purchasing corporation or other legal entity, at the option of the Holder,
the securities of the successor or purchasing corporation or other legal entity having a value at the time of the transaction equivalent to the value of the 

  
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Common Shares purchasable upon exercise of this Warrant at the time of the transaction. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to
the adjustments provided for in this Section 4. The provisions of this Section 4 shall similarly apply to successive reclassifications, changes, mergers and sales. 

(b) Subdivision or Combination of Common Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall
subdivide or combine its outstanding Common Shares, the Exercise Price shall be proportionately decreased and the number of Common Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the Exercise Price shall
be proportionately increased and the number of Common Shares issuable hereunder shall be proportionately decreased in the case of a combination. 

(c) Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall pay a dividend
with respect to Common Shares payable in Common Shares, then the Exercise Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price determined by multiplying
the Exercise Price in effect immediately prior to such date of determination by a fraction (i) the numerator of which shall be the total number of Common Shares outstanding immediately prior to such dividend or distribution, and (ii) the
denominator of which shall be the total number of Common Shares outstanding immediately after such dividend or distribution. 
 (d)
Adjustment of Number of Common Shares. Upon each adjustment in the Exercise Price, the number of Common Shares purchasable hereunder shall be adjusted, to the nearest whole Common Share, to the product obtained by multiplying the number of
Common Shares purchasable immediately prior to such adjustment in the Exercise Price by a fraction, the numerator of which shall be the Exercise Price immediately prior to such adjustment and the denominator of which shall be the Exercise Price
immediately thereafter. 
 (e) Notice of Adjustment. Whenever the Exercise Price or the number of Common Shares purchasable hereunder
shall be adjusted pursuant to this Section 4, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by
which such adjustment was calculated, and the Exercise Price and the number of Common Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be mailed to the Holder. 

5. Representations and Warranties by the Holder. The Holder represents and warrants to the Company as follows (it being understood
that, as provided in Exhibit A, a condition to any exercise of this Warrant shall be that the following be updated as of the date of exercise): 

(a) This Warrant and the Shares issuable upon exercise of this Warrant are being acquired for its own account, for investment and not with a
view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act. Upon exercise of this Warrant, the Holder shall, if so requested by the Company, confirm in writing, in a form
satisfactory to the Company, that the securities issuable upon exercise of this Warrant are being acquired for investment and not with a view toward distribution or resale. 

  
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 The Holder understands that the Warrant and the Shares have not been registered under the
Securities Act by reason of their issuance in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act pursuant to Section 4(2) thereof, and that they must be held by the Holder indefinitely,
and that the Holder must therefore bear the economic risk of such investment indefinitely, unless a subsequent disposition thereof is registered under the Securities Act or is exempted from such registration. 

(b) The Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of
the purchase of this Warrant and the Shares purchasable pursuant to this Warrant and of protecting its interests in connection therewith 

(c) The Holder is able to bear the economic risk of the purchase of the Shares purchasable pursuant to this Warrant. 

(d) The Holder is an “accredited investor,” as such term is defined under Rule 501 promulgated pursuant to the Securities Act.

 6. Company Operating Agreement; Transfer Restrictions. This Warrant (and the Common Shares purchasable hereunder) shall only be
transferable to the same extent any Common Shares held by the Holder are transferable under the Company Operating Agreement, and this Warrant (and the Common Shares purchasable hereunder) shall be subject to the same transfer restrictions applicable
to the Common Shares under the Company Operating Agreement. The Common Shares acquired pursuant to exercise of this Warrant shall be fully subject to all of the terms and conditions contained in the Operating Agreement, and the Holder hereby
acknowledges that it has read and understands the terms and conditions contained therein. 
 7. Rights of Members. The Holder shall
not be entitled, as a Warrant holder, to vote or receive dividends or be deemed the holder of the Shares or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained
herein be construed to confer upon the Holder any of the rights of a member of the Company or any right to vote for the election of managers or upon any matter submitted to members at any meeting thereof, or to give or withhold consent to any
limited liability company action, to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have been delivered,
as provided herein. 
 8. Expiration or Termination of Warrant; Notice of Liquidation Event or IPO. This Warrant shall expire and
shall no longer be exercisable upon the Expiration Date. If the Company proposes at any time to effect a Liquidation Event, the Company shall give the Holder at least ten (10) days prior written notice of the date when the same will take place
(and, in the case of a Liquidation Event, specifying the date on which Members will be entitled to exchange their shares for the securities or other property deliverable upon the occurrence of such event).

  
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In the event of an Liquidation Event, as an alternative to providing notice to the Holder, the Company shall have the right to terminate this Warrant in exchange for the payment to the Holder of
consideration in an aggregate amount equal to the excess of the fair market value (as reasonably determined by the Company’s Board of Managers) of the Shares over the aggregate Exercise Price thereof (the form of such consideration to be in the
same form received by members for their Common Shares). 
 9. Notices. All notices and other communications required or permitted
hereunder shall be in writing, shall be effective when given as set forth in the Securities Purchase Agreement. 
 10. Miscellaneous.
This Warrant and all actions arising out of or in connection with this Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law provisions of the State of Delaware or of
any other state. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the Holder and the Company. The headings in this Warrant are for purposes of reference only, and shall not
limit or otherwise affect any of the terms hereof. 
  

			
	GENO, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ACKNOWLEDGED BY:
		
	By:	 	  

	Name:	 	
	Title:	 	

  
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