Document:

EX-10.6

 Exhibit 10.6 

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR
OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE TERMS OF THIS WARRANT AND APPLICABLE LAW. 
 WARRANT TO PURCHASE STOCK 

 

			
	Corporation:	  	ADICET BIO, INC.
	Number of Shares:	  	See below.
	Class of Stock:	  	Common Stock
	Initial Exercise Price:	  	$11.32 per share
	Issue Date:	  	September 15, 2020
	Expiration Date:	  	April 28, 2027

 THIS WARRANT CERTIFIES THAT, for good and
valuable consideration, the receipt of which is hereby acknowledged, PACWEST BANCORP or its assignee or transferee (“Holder”) is entitled to purchase the
number of fully paid and nonassessable shares of the class of securities (the “Shares”) of the corporation (the “Company”) at the initial exercise price per Share (the “Warrant
Price”) all as set forth above and as adjusted pursuant to Article 2 of this warrant, subject to the provisions and upon the terms and conditions set forth in this warrant. This warrant shall be exercisable for 5,301 Shares on the Issue
Date and shall be exercisable for an additional number of Shares equal to (a) 1.00% of the aggregate original principal amount of all Term Loans made pursuant to the Loan and Security Agreement (the “Loan Agreement”), dated
as of April 28, 2020, between Adicet Therapeutics, Inc. (f/k/a Adicet Bio, Inc.) and Pacific Western Bank, as may be amended from time to time, divided by (b) the Warrant Price (subject to appropriate adjustment in the event of a stock
dividend, stock split or other similar event affecting the Shares). For the avoidance of doubt, in no event shall this warrant be exercisable for more than 15,904 Shares (subject to appropriate adjustment in the event of a stock dividend, stock
split or other similar event affecting the Shares). 
 ARTICLE 1 

EXERCISE 
 1.1
Method of Exercise. Holder may exercise this warrant by delivering this warrant and a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal office of the Company. Unless Holder is exercising the
conversion right set forth in Section 1.2, Holder shall also deliver to the Company a check, a wire transfer (to an account designated by the Company) or other form of payment acceptable to the Company for the aggregate Warrant Price for the
Shares being purchased. 
 1.2 Conversion Right. In lieu of exercising this warrant as specified in Section 1.1, Holder
may from time to time convert this warrant, in whole or in part, into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise issuable upon exercise of this warrant minus the
aggregate Warrant Price of such Shares by (b) the fair market value of one Share. The fair market value of the Shares shall be determined pursuant to Section 1.3. 
  

 1.3 Fair Market Value. If the Shares are traded regularly in a public market,
the fair market value of the Shares shall be the closing price of the Shares reported for the business day immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not regularly traded in a public market, the Board
of Directors of the Company shall determine fair market value in its reasonable good faith judgment. 
 1.4 Delivery of Certificate
and New Warrant. Promptly after Holder exercises or converts this warrant, the Company shall (a)(x) provided that the Company’s transfer agent is then participating in the Depository Trust Company (“DTC”) Deposit
Withdrawal Agent Commission (“DWAC”) system, cause the Company’s transfer agent to credit the number of Shares acquired to Holder’s account with DTC or (y) if the Company’s transfer agent is not then
participating in the DTC DWAC system, deliver to Holder certificates for the Shares acquired and (b) if this warrant has not been fully exercised or converted and has not expired, a new warrant representing the Shares not so acquired. 

1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of mutilation, on surrender and cancellation of this warrant,
the Company at its expense shall execute and deliver, in lieu of this warrant, a new warrant of like tenor. 
 1.6 Treatment of Warrant
Upon Acquisition of the Company. 
 1.6.1 “Acquisition.” For the purpose of this warrant,
“Acquisition” means (a) any sale, license, or other disposition of all or substantially all of the assets (including intellectual property) of the Company, (b) any reorganization, consolidation, merger or sale of
the voting securities of the Company or any other transaction where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of (1) the Company; (2) the
surviving or resulting entity; or (3) if the surviving entity is a wholly owned subsidiary of another entity immediately following such transaction, the parent entity of such surviving or resulting entity (other than a bona fide equity
financing principally for capital raising purposes in which the Company sells and issues equity securities to investors). 
 1.6.2
Exercise Upon Acquisition. Upon the closing of any Acquisition, if the fair market value of the consideration per Share to be received by the Company’s stockholders consists of cash, marketable securities, or a combination of both cash
and marketable securities (as determined pursuant to Section 1.3) and is greater than the Warrant Price, this warrant shall be deemed to have been automatically converted pursuant to Section 1.2, without any further action by the Holder,
even if this warrant is not surrendered and without the issuance of any certificate for Shares hereunder, and thereafter Holder shall participate in the Acquisition on the same terms as other holders of the same class of securities of the Company;
provided, however, that if the fair market value of the Shares, as determined pursuant to Section 1.3, in connection with such Acquisition is less than the aggregate Warrant Price, then this warrant shall terminate without exercise or
conversion immediately prior, and subject, to the closing of such Acquisition. 

  
 2 

 1.6.3 Assumption of Warrant. Upon the closing of any Acquisition not referred
to in Section 1.6.2, the successor entity shall assume the obligations of this warrant, and this warrant shall thereafter be exercisable for the same securities and/or other property as would have been paid for the Shares issuable upon exercise
of the unexercised portion of this warrant as if such Shares were outstanding on and as of the closing of such Acquisition, subject to further adjustment from time to time in accordance with the provisions of this warrant. 

1.7 Rule 144. With a view to making available to Holder the benefits of Rule 144 (or its successor rule) (“Rule
144”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”) to sell Shares delivered to Holder upon exercise of this warrant, the Company agrees, at the Company’s sole expense, to:

 (a) use its commercially reasonable efforts to file with the SEC in a timely manner (or obtain extensions in respect thereof and
file within the applicable grace period) all reports and other documents (other than Current Reports on Form 8-K) required of the Company under Section 13 or 15(d) of the Securities Exchange Act of 1934,
as amended, (the “Exchange Act”) so long as (1) the Company remains subject to such requirements under Section 13 or 15(d) of the Exchange Act, (2) the filing of such reports and other documents is required to
satisfy the current public information requirements of Rule 144(c)(1) and (3) and it is necessary for the Company to satisfy the current public information requirements of Rule 144(c)(1) for the Holder to offer, sell or otherwise transfer such
Shares pursuant to Rule 144 (assuming the Holder is not an “affiliate” (as defined in Rule 144) of the Company’s, and that has not been an “affiliate” (as defined in Rule 144) of the Company’s during the immediately
preceding three months); 
 (b) promptly upon request of the Holder furnish to Holder, (i) a written statement by the Company
that it has complied in all material respects with the requirements of Rule 144(c)(1)(i) and (ii), and (ii) such other information, if any, as may be reasonably requested to permit Holder to sell such securities pursuant to Rule 144 without
registration, in each case, so long as (1) Holder owns such Shares, (2) the Company is required to file with the SEC reports and other documents under Section 13 or 15(d) of the Exchange Act, (3) the filing of such reports and
other documents is required to satisfy the current public information requirements of Rule 144(c)(1) and (4) and it is necessary for the Company to satisfy the current public information requirements of Rule 144(c)(1) for the Holder to offer,
sell or otherwise transfer such Shares pursuant to Rule 144 (assuming the Holder is not an “affiliate” (as defined in Rule 144) of the Company’s, and that has not been an “affiliate” (as defined in Rule 144) of the
Company’s during the immediately preceding three months); and 
 (c) take such additional action as is reasonably requested by
Holder to enable Holder to sell the Shares pursuant to Rule 144, including, without limitation, delivering all such legal opinions consents, certificates, resolutions and instructions to the Company’s transfer agent as may be reasonably
requested from time to time by Holder. 

  
 3 

 ARTICLE 2 

ADJUSTMENTS TO THE SHARES 

2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on its common stock payable in common stock, or
other securities, or subdivides the outstanding common stock into a greater amount of common stock, then upon exercise of this warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to
which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend or subdivision occurred. 

2.2 Reclassification, Exchange or Substitution. Upon any reclassification, exchange, substitution, or other event that results in
a change of the number and/or class of the securities issuable upon exercise or conversion of this warrant (including, without limitation, in any Permitted Transaction (as defined in the Loan Agreement)), Holder shall be entitled to receive, upon
exercise or conversion of this warrant, the number and kind of securities and property that Holder would have received for the Shares if this warrant had been exercised immediately before such reclassification, exchange, substitution, or other
event. The Company, its parent entity or its successor shall promptly issue to Holder a new warrant for such new securities or other property. The new warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to
the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new warrant. The provisions of this Section 2.2 shall
similarly apply to successive reclassifications, exchanges, substitutions, or other events as described in this Section 2.2. 

2.3 Adjustments for Combinations, Etc. If the outstanding Shares are combined or consolidated, by reclassification or otherwise,
into a lesser number of shares, the Warrant Price shall be proportionately increased. If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a greater number of shares, the Warrant Price shall be
proportionately decreased. 
 2.4 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the Company at its
expense shall promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish
Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 

2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or conversion of the warrant and the Number of Shares
to be issued shall be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the warrant, the Company shall eliminate such fractional share interest by paying Holder the amount computed by
multiplying the fractional interest by the fair market value of a full Share. 

  
 4 

 ARTICLE 3 

REPRESENTATIONS AND COVENANTS OF THE COMPANY 

3.1 Representations and Warranties. The Company hereby represents and warrants to the Holder as follows: 

(a) All Shares which may be issued upon the exercise of the purchase right represented by this warrant, and all securities, if any,
issuable upon conversion of the Shares, shall, upon issuance, be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable
federal and state securities laws. 
 3.2 Notice of Certain Events. The Company shall provide Holder with not less than 10 days
prior written notice of, including a description of the material facts surrounding, any of the following events: (a) declaration of any dividend or distribution upon its common stock, whether in cash, property, stock, or other securities and
whether or not a regular cash dividend; (b) offering for subscription pro rata to the holders of any class or series of its stock any additional shares of stock of any class or series or other rights; (c) effecting any reclassification or
recapitalization of common stock; or (d) the merger or consolidation with or into any other corporation, or sale, lease, license, or conveyance of all or substantially all of its assets, or liquidation, dissolution or winding up. 

ARTICLE 4 

REPRESENTATIONS AND COVENANTS OF HOLDER 

Holder hereby represents, warrants and covenants to the Company: 

4.1 Purchase for Own Account. Holder is acquiring this warrant and all equity securities issuable, directly or indirectly, upon
exercise of the warrant (collectively, the “Securities”) for Holder’s own account not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that Holder has no present intention
of selling, granting any participation in, or otherwise distributing the same. 
 4.2 Disclosure of Information. Holder further
represents that it has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Securities and the business, properties, prospects and financial condition of the Company. With
respect to any projections of its future operations provided to Holder by the Company, Holder acknowledges that the Company makes no representations or warranties. 

4.3 Investment Experience. Holder has experience as an investor in securities of companies in the development stage and
acknowledges that it is able to fend for itself, can bear the economic risk of its investment, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the
Securities. Holder acknowledges that any investment in the Securities involves a high degree of risk, and represents that it is able, without materially impairing its financial condition, to hold the Securities for an indefinite period of time and
to suffer a complete loss of its investment. 

  
 5 

 4.4 Accredited Investor. Holder is an “accredited investor” within
the meaning of SEC Rule 501 of Regulation D, as presently in effect. 
 4.5 Restricted Securities. Holder understands
that the Securities are characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and
applicable regulations such securities may be resold without registration under the Securities Act only in certain limited circumstances. In this connection, Holder represents that it is familiar with Rule 144, as presently in effect, and
understands the resale limitations imposed thereby and by the Securities Act. Holder understands that the Securities have not been and will not be registered under the Securities Act and have not been and will not be registered or qualified in any
state in which they are offered, and thus Holder will not be able to resell or otherwise transfer his, her or its Securities unless they are registered under the Securities Act and registered or qualified under applicable state securities laws, or
an exemption from such registration or qualification is available. 
 4.6 Residence. If Holder is a partnership, corporation,
limited liability company or other entity, then the office or offices of Holder in which its principal place of business is identified in the address or addresses of Holder set forth in Section 5.5 hereof. 

ARTICLE 5 

MISCELLANEOUS 
 5.1
Term: Exercise Upon Expiration. Subject to Section 1.6, this warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above. If this warrant has not been exercised prior to
the Expiration Date, this warrant shall be deemed to have been automatically exercised on the Expiration Date by “cashless” conversion pursuant to Section 1.2. 

5.2 Legends. This warrant and the Shares shall be imprinted with such legends as deemed required by the Company for applicable
securities laws, the Company’s organizational documents, and any other agreements the Securities are subject to, including the following: 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THIS WARRANT AND APPLICABLE LAW. 
 5.3 Compliance with Securities Laws on Transfer. This warrant and
the Shares issuable upon exercise of this warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) may not be transferred or assigned in whole or in part without compliance with applicable federal and
state securities laws by the transferor and the transferee. The Company shall not require Holder to provide an opinion of counsel if there is no material question as to the availability of current information as referenced in Rule 144(c), Holder

  
 6 

 
represents that it has complied with Rule 144 (d) and (e) in reasonable detail, the selling broker represents that it has complied with Rule 144(f), and the Company is provided with a copy
of Holder’s notice of proposed sale. Any subsequent transferee shall be bound by all of the terms and conditions of this warrant and make to the Company each of the representations, warranties and covenants set forth in Article 4 of this
warrant as of the date of such transfer. 
 5.4 Transfer Procedure. Subject to the provisions of Section 5.3, Holder may
transfer all or part of this warrant or the Shares issuable upon exercise of this warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of the warrant being
transferred setting forth the name, address and taxpayer identification number of the transferee and surrendering this warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable); provided, however, that Holder shall not
transfer all or part of this warrant or the Shares issuable upon exercise of this warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares, if any) to any Person who is a direct competitor of the Company, whether as
an operating company or direct or indirect parent with voting control over such operating company. No surrender or reissuance shall be required for a transfer to any other affiliate of Holder 

5.5 Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and
effective when given personally, emailed or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or such Holder
from time to time. All notices to the Holder shall be addressed as follows: 
 PacWest Bancorp 

Attn: Warrant Administrator 
 406
Blackwell Street, Suite 240 
 Durham, NC 27701 

Email: warrants@pacwest.com 
 All notices to the
Company shall be addressed as follows: 
 Adicet Bio, Inc. 

Attention: Chen Schor, CEO 
 500
Boylston Street, 13th Floor 
 Boston, Massachusetts 

Email: __________________ 

5.6 Amendments. This warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in
writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 
 5.7
Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such
dispute, including reasonable attorneys’ fees. 

  
 7 

 5.8 No Stockholder Rights. Holder, as a Holder of this warrant, will not have
any rights as a stockholder of the Company until the exercise of this warrant. 
 5.9 Governing Law. This warrant shall be
governed by and construed in accordance with the laws of the State of Delaware, without giving effect to its principles regarding conflicts of law. 

[Signature Page Follows] 

  
 8 

 IN WITNESS WHEREOF, the undersigned has executed this Warrant to Purchase Stock as of the date set forth
above. 
  

			
	ADICET BIO, INC.
		
	By:	 	 /s/ Chen Schor

	Name:	 	 Chen Schor

	Title:	 	 Chief Executive Officer

	
	Accepted and agreed:
	
	PACWEST BANCORP
		
	By:	 	 /s/ Jeff Krumpoch

	Name:	 	 Jeff Krumpoch

	Title:	 	 Senior Corporate Controller

 [Signature Page to Warrant to Purchase Stock] 

 APPENDIX 1 

NOTICE OF EXERCISE 

1. The undersigned hereby elects to purchase ______________ shares of the ______________ stock of ADICET BIO, INC. pursuant to
the terms of the attached warrant, and tenders herewith payment of the purchase price of such shares in full. 
 1. The undersigned
hereby elects to convert the attached warrant into shares in the manner specified in the warrant. This conversion is exercised with respect to ______________ of the shares covered by the warrant. 

[Strike paragraph that does not apply.] 

2. Please issue a certificate or certificates representing said shares in the name of the undersigned or in such other name as is
specified below: 
  

	
	  
 (Holder’s
Name)

	  

	
	  
 (Address)

 3. The undersigned hereby confirms that the representations and warranties set forth in Section 4
of the warrant are true and correct in all respects as of the date hereof. 
  

	
	PACWEST BANCORP or Registered Assignee
	
	  
 (Signature)

	
	  
 (Date)EX-10.7

 Exhibit 10.7 

UNCONDITIONAL SECURED GUARANTY 

In connection with the Loan and Security Agreement, dated as of April 28, 2020 (as amended, restated, supplemented or otherwise modified
from time to time, the “Loan Agreement”), by and between PACIFIC WESTERN BANK (“Bank”), and ADICET THERAPEUTICS, INC., a Delaware corporation formerly named Adicet Bio, Inc. (“Borrower”), ADICET
BIO, INC., a Delaware corporation formerly named resTORbio, Inc. (“Guarantor”) hereby unconditionally and irrevocably guarantees (i) the prompt and complete payment of all Obligations (as defined in the Loan Agreement), and
(ii) performance by Borrower of its obligations under the Loan Agreement, in each case in strict accordance with its terms (herein referred to as the “Guaranteed Obligations”). All terms used without definition in this Guaranty
shall have the meaning assigned to them in the Loan Agreement or as defined in the Code. This Guaranty is executed effective as of September 15, 2020 (the “Effective Date”) and is a continuing guaranty, and the
obligations guaranteed hereby include, without limitation, new obligations incurred by Borrower under the Loan Agreement after the Effective Date. Guarantor acknowledges it will receive a direct and material benefit from the loans made pursuant to
the Loan Agreement and that Bank has required that this secured guaranty (as amended, restated, supplemented or otherwise modified, from time to time, this “Guaranty”) be entered into as a condition of the Loan Agreement. 

1. Guaranty. If Borrower does not pay any amount or perform the Guaranteed Obligations, Guarantor shall immediately pay all
amounts due under the Loan Agreement (including, without limitation, all principal, interest, and fees) and otherwise proceed to complete the same and satisfy all of Borrower’s Obligations under the Loan Agreement. The obligations hereunder are
independent of the Obligations of Borrower and any other person or entity, and a separate action or actions may be brought and prosecuted against Guarantor whether action is brought against Borrower or whether Borrower is joined in any such action
or actions. Guarantor waives the benefit of any statute of limitations affecting its liability hereunder or the enforcement thereof, to the extent permitted by law. Guarantor’s liability under this Guaranty is not conditioned or contingent upon
the genuineness, validity, regularity or enforceability of the Guaranteed Obligations. 
 2. Grant of Security Interest. To
secure its obligations under this Guaranty, Guarantor hereby grants Bank a security interest in the assets described on Exhibit A hereto (the “Collateral”). The security interest granted herein is and shall at all times
continue to be a first-priority perfected security interest in the Collateral (other than Permitted Liens, to the extent applicable to Guarantor, or other Liens as set forth in the schedule to this Guaranty). If Guarantor acquires a commercial tort
claim with a potential recovery reasonably expected to be in excess of Two Hundred Fifty Thousand Dollars ($250,000), Guarantor shall promptly notify Bank in writing and deliver such other information and documents as Bank may reasonably require to
perfect Bank’s security interest in such commercial tort claim. Guarantor authorizes Bank to file at any time financing statements, continuation statements and amendments thereto with all appropriate jurisdictions to perfect or protect
Bank’s interest or rights hereunder. Guarantor shall not, without at least ten (10) days prior written notice to Bank (i) change its jurisdiction of organization, chief executive office, legal name, or organizational number (if any)
assigned by its jurisdiction of organization. Guarantor shall execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Guaranty.

 3. Pledge of Shares. Guarantor hereby pledges, assigns and grants to Bank a security interest in all the issued and
outstanding capital stock, membership units or other securities owned or held of record by Guarantor in Borrower (the “Shares”), together with all proceeds and substitutions thereof, all cash, stock and other moneys and property
paid thereon, all rights to subscribe for securities declared or granted in connection therewith, and all other cash and noncash proceeds of the foregoing, as security for the performance of the Guaranteed Obligations. On the Effective Date, the
certificate or certificates for the Shares of Borrower will be delivered to Bank, accompanied by an instrument of assignment duly governing the Shares. Guarantor shall cause the books of Borrower and any transfer agent to reflect the pledge of the
Shares. Upon the occurrence of an Event of Default hereunder, Bank may effect the transfer of any securities included in the Collateral (including but not limited to the Shares) into the name of Bank and cause new certificates representing such
securities to be issued in the name of Bank or its transferee. Unless an Event of Default shall have occurred and be continuing, Guarantor shall be entitled to exercise any voting rights with respect to the Shares and to give consents, waivers and
ratifications in respect thereof, provided that no vote shall be cast or consent, waiver or ratification given or action taken which would be inconsistent with any of the terms of this Guaranty or which would constitute or create any violation of
any of such terms. All such rights to vote and give consents, waivers and ratifications shall terminate upon the occurrence and continuance of an Event of Default. 

  
 1 

 4. Representations and Warranties. Guarantor represents and warrants to Bank
that: 
 4.1 (i) Guarantor has taken all necessary and appropriate action to authorize the execution, delivery and performance of
this Guaranty, (ii) the execution, delivery and performance of this Guaranty do not conflict with or result in a breach of or constitute a default under Guarantor’s organizational documents, nor will they constitute an event of default
under any material agreement to which it is party or by which it is bound, (iii) after giving effect to this Guaranty, Guarantor is not insolvent or left with unreasonably small capital for the business or transactions in which Guarantor is
presently engaged or plans to be engaged, and is able to pay its debts as they mature, and (iv) except as may be limited by bankruptcy, insolvency or other laws affecting the enforcement of creditors’ rights generally and by general
principles of equity (regardless of whether enforcement is sought in equity or in law), this Guaranty constitutes a valid and binding obligation, enforceable against Guarantor in accordance with its terms. 

4.2 Guarantor has good title to, rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien
hereunder, free and clear of any and all Liens, except Permitted Liens, to the extent applicable to Guarantor, or as otherwise set forth in the schedule to this Guaranty. 

4.3 The information with respect to Guarantor and the Collateral set forth in that certain Borrower Information Certificate dated as of
July 7, 2020 is true and correct in all material respects as of such date. 
 4.4 As of the date hereof, no Collateral consisting
of promissory notes or equity interests is evidenced by an original instrument or share certificate, as applicable, except to the extent delivered to Bank as possessory collateral with appropriate allonges or stock powers in form satisfactory to
Bank. 
 5. Landlord Waiver. Within one hundred twenty (120) days of the Effective Date, provided that Guarantor has not
vacated possession of such premises (whether in connection with the execution of a sublease or otherwise), Guarantor shall exercise commercially reasonable efforts to deliver to Bank in form and substance satisfactory to Bank a duly executed
landlord waiver in favor of Bank for the rental property located at 500 Boylston Street, 13th Floor, Boston, Massachusetts. 

6. Insurance. Guarantor, at its expense, shall (i) keep the Collateral insured against loss or damage, and
(ii) maintain liability and other insurance, in each case as ordinarily insured against by other owners in businesses similar to Guarantor’s. All such policies of insurance shall be in such form, with such companies, and in such amounts
reasonably satisfactory to Bank. All policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank, showing Bank as lender’s loss payee. All liability insurance policies shall show, or
have endorsements showing, Bank as an additional insured. Any such insurance policies shall specify that the insurer must give at least twenty (20) days notice to Bank before canceling its policy for any reason. Within thirty (30) days of
the Effective Date, Bank shall have received in form and substance reasonably satisfactory to Bank evidence that the insurance policies required by this Section 6 are in full force and effect. Within thirty (30) days of the Effective Date,
Guarantor shall cause to be furnished to Bank a copy of its policies including any endorsements covering Bank or showing Bank as an additional insured. Proceeds payable under any casualty policy will, at Guarantor’s option, be payable to
Guarantor to replace the property subject to the claim, provided that any such replacement property shall be deemed Collateral in which Bank has been granted a first priority security interest, provided that if an event of default has occurred and
is continuing, all proceeds payable under any such policy shall, at Bank’s option, be payable to Bank to be applied on account of the Guaranteed Obligations. 

7. Primary Depository. Within sixty (60) days of the Effective Date, Guarantor shall maintain, and shall (subject to
Borrower’s obligations in Section 6.6 of the Loan Agreement) cause all of its Subsidiaries to maintain, all of its Cash in depository and operating accounts with Bank and all investment accounts with Bank or Bank’s
affiliates; provided that prior to Guarantor maintaining any investment accounts with Bank’s affiliates, Guarantor, Bank, and any such affiliate shall have entered into a securities account control agreement with respect to any such investment
accounts, in form and substance satisfactory to Bank, provided that, Guarantor shall be permitted to maintain an aggregate amount not to exceed $20,000 in one or more accounts outside of Bank. 

8. Existing Letter of Credit. Notwithstanding anything herein to the contrary, Guarantor shall be permitted to maintain
Guarantor’s existing cash collateral account at Wells Fargo Bank (the “Collateral Account”) securing that certain letter of credit for $245,442.50 in favor of 500 Boylston & 222 Berkeley Owner (DE) LLC (the “Letter of
Credit”), provided that (x) the aggregate balance of the Collateral Account shall not exceed $245,442.50 at any time and (y) upon the earlier of (A) the outside expiration date of the Letter of Credit as of the Effective Date
which is December 31, 2026, and (z) early termination of the Letter of Credit, the entire balance held in the Collateral Account shall immediately be transferred to Guarantor’s account at Bank. For the avoidance of doubt, the Letter
of Credit shall not be renewed or extended so long as Bank shall have provided similar replacement letter of credit in favor of the existing beneficiary in such amount and on terms substantially similar to the terms of Letter of Credit, resulting in
a replacement letter of credit that is reasonably acceptable to the applicable beneficiary. 

  
 2 

 9. Affirmative Covenants. Until the final payment and performance in full of
all of the Obligations (other than inchoate indemnification or reimbursement obligations), Guarantor shall do all of the following: (a) maintain its existence, remain in good standing in its jurisdiction of organization, and continue to qualify
in its jurisdiction in which the failure to so qualify could have a material adverse effect on the financial condition, operations or business of Guarantor; (b) maintain in force all licenses, approvals and agreements, the loss of which could
reasonably be expected have a material adverse effect on its financial condition, operations or business; (c) comply with all statutes, laws, ordinances, directives, orders, and government rules and regulations to which it is subject if non-compliance with such laws could reasonably be expected to have a material adverse effect on the financial condition, operations or business of Guarantor; and (d) at any time and from time to time Guarantor
shall execute and deliver such further instruments and take such further action as may reasonably be requested by Bank to effect the purposes of this Guaranty. 

10. Negative Covenants. Guarantor shall not do any of the following: (a) create, incur, assume or be or remain liable
with respect to any Indebtedness, other than Permitted Indebtedness, to the extent applicable to Guarantor, or other Indebtedness as set forth in the Schedule to this Guaranty; (b) create, incur, assume or suffer to exist any Lien with respect
to any of its property, other than Permitted Liens, to the extent applicable to Guarantor, or other Liens as set forth in the Schedule to this Guaranty; (c) transfer, assign, encumber, or otherwise dispose of any equity interest that Guarantor
may now have or hereafter acquire in Borrower; and (d) dispose of any interest in the Collateral other than Permitted Transfers, to the extent applicable to Guarantor. 

11. Waivers by Guarantor. Guarantor waives any right to require Bank to (a) proceed against Borrower, any guarantor, or any
other person; (b) proceed against or exhaust any security held from Borrower; or (c) pursue any other remedy in Bank’s power whatsoever. Bank may, at each of its election, exercise or decline or fail to exercise any right or remedy it
may have against Borrower or any security held by Bank, including without limitation the right to foreclose upon any such security by judicial or non-judicial foreclosure, without affecting or impairing in any
way the liability of Guarantor hereunder. Guarantor waives any defense arising by reason of any disability or other defense of Borrower, or by reason of the cessation from any cause whatsoever of the liability of Borrower. Until all of the
Guaranteed Obligations (other than inchoate indemnity obligations) have been paid in full, (a) Guarantor waives any defense that Guarantor may have against Bank arising out of the absence, impairment or loss of any right of reimbursement or
subrogation or any other rights Guarantor has against Borrower, (b) Guarantor shall not exercise any rights against Borrower arising as a result of payment by Guarantor hereunder, by way of subrogation, reimbursement, restitution, contribution
or otherwise and (c) Guarantor waives any right to enforce any remedy that Bank now has or may hereafter have against Borrower and waives all rights to participate in any security now or hereafter held by Bank. Guarantor waives all
presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, and notices of acceptance of this Guaranty and of the existence, creation, or incurring of new or additional indebtedness. Guarantor
waives any setoff, defense or counterclaim that Borrower may have against Bank. Guarantor assumes the responsibility for being and keeping itself informed of the financial condition of Borrower and of all other circumstances bearing upon the risk of
nonpayment of any indebtedness or nonperformance of any Obligation of Borrower and agrees that, absent a request for particular information by Guarantor, Bank shall not have any duty to advise Guarantor of information known to Bank regarding such
condition or any such circumstances. Guarantor waives any defenses as a surety under applicable law, including without limitation, any suretyship defenses available to it under the Code or any other applicable law. Guarantor waives any benefits that
it has that permit a subordinating creditor to assert suretyship or that give a subordinating creditor rights to require a senior creditor to marshal assets. Guarantor will not assert such a defense or right. In addition to the waivers set forth
above, Guarantor expressly waives, to the extent permitted by North Carolina law, all of Guarantor’s rights under North Carolina General Statute Section 26-7 through
Section 26-9, inclusive, or any similar or subsequent laws. Guarantor authorizes Bank, as applicable, in accordance with the terms of the Loan Agreement, without notice or demand and without affecting its
liability hereunder, from time to time to, (a) renew, extend, or otherwise change the terms of the Loan Documents or any part hereof; (b) take and hold security for the payment of this Guaranty or the Guaranteed Obligations, and exchange,
enforce, waive and release any such security; and (c) apply such security and direct the order or manner of sale thereof as provided in the Loan Agreement or, if not so provided, as Bank in its sole discretion may determine. 

12. Borrower’s Insolvency. If Borrower becomes insolvent or is adjudicated bankrupt or files a petition for
reorganization, arrangement, composition or similar relief under any present or future provision of the United States Bankruptcy Code, or if such a petition is filed against Borrower, and in any such proceeding some or all of any indebtedness

  
 3 

 
or obligations under the Loan Documents are terminated or rejected or any obligation of Borrower is modified or abrogated, or if Borrower’s obligations are otherwise avoided for any reason,
Guarantor agrees that Guarantor’s liability hereunder shall not thereby be affected or modified and such liability shall continue in full force and effect as if no such action or proceeding had occurred. This Guaranty shall continue to be
effective or be reinstated, as the case may be, if any payment must be returned by Bank upon the insolvency, bankruptcy or reorganization of Borrower, Guarantor, any other guarantor, or otherwise, as though such payment had not been made. 

13. Subordination of Borrower’s Indebtedness. Any indebtedness of Borrower now or hereafter held by Guarantor
is hereby subordinated to the Guaranteed Obligations; and upon notice of Bank following the occurrence and during the continuation of an Event of Default, such indebtedness of Borrower to Guarantor shall be collected, enforced and received by
Guarantor as trustee for Bank and be paid over to Bank on account of the Guaranteed Obligations, but without reducing or affecting in any manner the liability of Guarantor under the other provisions of this Guaranty. 

14. Event of Default. Each of the following shall constitute an event of default under this Guaranty: if this Guaranty ceases to
be in full force and effect for any reason; if any material misrepresentation or material misstatement exists now or hereafter in any warranty or representation in this Guaranty; if Guarantor fails to perform any obligation required hereunder; if
Guarantor purports to revoke or otherwise avoid any obligation under this Guaranty; or if an Event of Default occurs under the Loan Agreement. 

15. Remedies and Related Provisions 

15.1 Rights and Remedies. Upon the occurrence and during the continuance of an event of default under this Guaranty described in
Section 14 hereof, Bank may, without notice or demand, do any or all of the following (in addition to any remedies pursuant to the Loan Agreement): (i) verify the amount of, demand payment of and performance under, and collect any Accounts and
general intangibles, settle or adjust disputes and claims directly with account debtors for amounts on terms and in any order that Bank considers advisable, and notify any Person owing Guarantor money of Bank’s security interest in such funds;
(ii) make any payments and do any acts it reasonably considers necessary or advisable to protect the Collateral and/or its security interest in the Collateral, and Guarantor shall assemble the Collateral if Bank requests and make it available
as Bank designates, (iii) enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security
interest and pay all expenses incurred, and in furtherance of the foregoing, Guarantor grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; (iv) apply to the
Obligations any (A) balances and deposits of Guarantor that Bank holds, or (B) amounts held by Bank owing to or for the credit or the account of Guarantor; (v) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale,
advertise for sale, and sell the Collateral, and solely in furtherance of the foregoing in connection with the exercise of its remedies hereunder, Guarantor hereby grants Bank a non-exclusive, royalty-free
license or other right to use, without charge, Guarantor’s labels, patents, copyrights, mask works, rights of use of any name, trade secrets, trade names, trademarks, and advertising matter, or any similar property as it pertains to the
Collateral, completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights hereunder, and any rights of Guarantor under all licenses and all franchise agreements inure to
Bank’s benefit; (vi) place a “hold” on any account maintained with Bank or deliver a notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any account control agreement or similar
agreements providing control of any Collateral; (vii) demand and receive possession of any Guarantor’s books and records; and (viii) exercise all rights and remedies available to Bank at law or equity, including all remedies provided
under the Code (including sale of the Collateral pursuant to the terms thereof). 
 15.2 Power of Attorney. Guarantor hereby
irrevocably appoints Bank (and any of Bank’s partners, managers, officers, agents or employees) as its lawful attorney-in-fact, with full power of substitution,
exercisable solely upon the occurrence and during the continuance of an Event of Default, to: (a) send requests for verification of Accounts or notify account debtors of Bank’s security interest and Liens in the Collateral;
(b) endorse Guarantor’s name on any checks or other forms of payment or security; (c) sign Guarantor’s name on any invoice or bill of lading for any Account or drafts against account debtors schedules and assignments of Accounts,
verifications of Accounts, and notices to account debtors; (d) settle and adjust disputes and claims about the Accounts directly with account debtors, for amounts and on terms Bank determines reasonable; (e) make, settle, and adjust all
claims under Guarantor’s insurance policies; (f) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate
or discharge the same; (g) transfer the Collateral into the name of Bank or a third party as the Code permits; and (h) dispose of the Collateral as the Code permits. Guarantor further hereby

  
 4 

 
appoints Bank (and any of Bank’s partners, managers, officers, agents or employees) as its lawful
attorney-in-fact, with full power of substitution, regardless of whether or not an Event of Default has occurred or is continuing to: (i) sign Guarantor’s name
on any documents and other instrument necessary to perfect or continue the perfection of, or maintain the priority of, Bank’s security interest in the Collateral to the extent Guarantor does not promptly execute the same upon Bank’s
written request, (ii) execute and do all such assurances, acts and things which Guarantor is required, but fails to do under the covenants and provisions hereof; (iii) take any and all such actions as Bank may reasonably determine to be
necessary or advisable for the purpose of maintaining, preserving or protecting the Collateral or any of the rights, remedies, powers or privileges of Bank hereunder or the under the Loan Agreement. Bank’s foregoing appointment as
Guarantor’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Guaranteed Obligations (other than inchoate indemnity obligations) have been paid in full, in cash, and Bank is under no
further obligation to make credit extensions to Borrower. 
 15.3 Protective Payments. If Guarantor fails to obtain the
insurance required by this Guaranty or fails to pay any premium thereon or fails to pay any other amount which Guarantor is obligated to pay under this Guaranty, the Loan Agreement or which may be required to preserve the Collateral, Bank may obtain
such insurance or make such payment, and all amounts so paid by Bank shall constitute Obligations and shall be immediately due and payable, bearing interest at the then highest rate applicable to the Obligations in accordance with the terms of the
Loan Documents, and shall be secured by the Collateral. Bank will make reasonable efforts to provide Guarantor with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are
deemed an agreement to make similar payments in the future or Bank’s waiver of any event of default hereunder. 
 15.4
Bank’s Liability for Collateral. So long as Bank complies with commercially reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable
or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other
Person. Subject to the foregoing, Guarantor shall bear all risk of loss, damage or destruction of the Collateral. 
 16. Miscellaneous.

 16.1 Guarantor agrees to pay reasonable attorneys’ fees and all other reasonable out-of-pocket costs and expenses which may be incurred by Bank in the enforcement of this Guaranty. 

16.2 No terms or provisions of this Guaranty may be changed, waived, revoked or amended except by written agreement between Guarantor
and Bank. 
 16.3 Should any provision of this Guaranty be determined by a court of competent jurisdiction to be unenforceable, all of
the other provisions shall remain effective. 
 16.4 This Guaranty, together with any agreement executed in connection with this
Guaranty, embodies the entire agreement between the parties hereto with respect to the matters set forth herein, and supersedes all prior agreements between the parties with respect to the matters set forth herein. 

16.5 No course of prior dealing among the parties, no usage of trade, and no parol or extrinsic evidence of any nature shall be used to
supplement, modify or vary any of the terms hereof. Bank’s failure, at any time or times, to require strict performance by Guarantor of any provision of this Guaranty or any other Loan Document shall not waive, affect, or diminish any right of
Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is
given. Bank’s rights and remedies under this Guaranty and the other Loan Documents are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election
and shall not preclude Bank from exercising any other remedy under this Guaranty or other remedy available at law or in equity, and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is
not a waiver, election, or acquiescence. 
 16.6 There are no conditions to the full effectiveness of this Guaranty. 

16.7 Bank may assign this Guaranty (or its rights thereunder) in connection with a permitted assignment of the Guaranteed Obligations in
accordance with the Loan Agreement without in any way affecting Guarantor’s liability under it. This Guaranty shall inure to the benefit of Bank and its successors and assigns. 

  
 5 

 16.8 This Guaranty may be executed in any number of counterparts and by different
parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one agreement. Executed copies of the signature pages of this Agreement sent by facsimile or transmitted electronically
in Portable Document Format (“PDF”), or any similar format, shall be treated as originals, fully binding and with full legal force and effect, and the parties waive any rights they may have to object to such treatment. 

16.9 Governing Law; Jurisdiction; Venue; Jury Trial Waiver. This Guaranty shall be governed by, and construed in accordance with,
the internal laws of the State of North Carolina, without regard to principles of conflicts of law. Jurisdiction shall lie in the State of North Carolina. All disputes, controversies, claims, actions and similar proceedings arising with respect to
Borrower’s account or any related agreement or transaction shall be brought in the General Court of Justice of North Carolina sitting in Durham County, North Carolina, or the United States District Court for the Middle District of North
Carolina, except as provided below with respect to arbitration of such matters. BANK AND GUARANTOR EACH ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED. EACH OF THEM, AFTER CONSULTING OR HAVING
HAD THE OPPORTUNITY TO CONSULT, WITH COUNSEL OF THEIR CHOICE, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS GUARANTY OR ANY RELATED INSTRUMENT OR
LOAN DOCUMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS GUARANTY OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTION OF ANY OF THEM. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR
RELINQUISHED BY BANK OR GUARANTOR, EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY EACH OF THEM. If the jury waiver set forth in this Section 16.9 is not enforceable, then any dispute, controversy, claim, action or similar proceeding arising out of
or relating to this Guaranty, the Loan Documents or any of the transactions contemplated therein shall be settled by final and binding arbitration held in Durham County, North Carolina in accordance with the then current Commercial Arbitration Rules
of the American Arbitration Association by one arbitrator appointed in accordance with those rules. The arbitrator shall apply North Carolina law to the resolution of any dispute, without reference to rules of conflicts of law or rules of
statutory arbitration. Judgment upon any award resulting from arbitration may be entered into and enforced by any state or federal court having jurisdiction thereof. Notwithstanding the foregoing, the parties may apply to any court of competent
jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance with this Section 16.9. The costs and expenses of the arbitration, including without limitation, the arbitrator’s fees and expert
witness fees, and attorneys’ fees, incurred by the parties to the arbitration may be awarded to the prevailing party, in the discretion of the arbitrator, or may be apportioned between the parties in any manner deemed appropriate by the
arbitrator. Unless and until the arbitrator decides that one party is to pay for all (or a share) of such costs and expenses, both parties shall share equally in the payment of the arbitrator’s fees as and when billed by the arbitrator. 

16.10 Withholding. All payments made by Guarantor hereunder will be made free and clear of, and without deduction or withholding
for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any governmental authority or by any political subdivision or taxing authority thereof or therein with
respect to such payments (excluding taxes imposed on or measured by the net income of Bank) and all interest, penalties or similar liabilities with respect thereto (all such taxes, levies, imposts, duties, fees, assessments or other charges and as
required by any governmental authority, applicable law, regulation or international agreement being referred to collectively as “Taxes”). If any Taxes are so levied or imposed, Guarantor agrees to pay the full amount of such Taxes,
and such additional amounts as may be necessary so that every payment of all amounts due under this Guaranty, after withholding or deduction for or on account of any Taxes, will not be less than the amount required to be paid with respect to the
Guaranteed Obligations. Notwithstanding the foregoing, Guarantor need not make any withholding payment if the amount or validity of such withholding payment is contested in good faith by appropriate and timely proceedings and as to which payment in
full is bonded or reserved against by Guarantor. 
 [SIGNATURE PAGE FOLLOWS] 

 

  
 6 

 IN WITNESS WHEREOF, the undersigned Guarantor has duly executed this Guaranty as of
the date set forth above. 
  

			
	ADICET BIO, INC., a Delaware corporation
		
	By:	 	 /s/ Chen Schor

		
	Name:	 	 Chen Schor

		
	Title:	 	 Chief Executive Officer

 Exhibit A 

Collateral Description 

The Collateral consists of all of Guarantor’s right, title and interest in and to the following personal property wherever located,
whether now owned or existing or hereafter acquired, created or arising: 
 All goods, Accounts (including health-care receivables), Equipment, Inventory,
Shares, contract rights or rights to payment of money, leases, license agreements, franchise agreements, general intangibles (including goodwill and payment intangibles), commercial tort claims, documents, instruments (including any promissory
notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting
obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and all such Guarantor’s books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for,
additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds (both cash and non-cash) and insurance proceeds of any or all of the foregoing. 

Notwithstanding the foregoing, the Collateral shall not include any of the intellectual property, in any medium, of any kind or nature whatsoever, now or
hereafter owned or acquired or received by Guarantor, or in which Guarantor now holds or hereafter acquires or receives any right or interest (collectively, the “Intellectual Property”); provided, however, that the Collateral shall include
all accounts and general intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition of all or any part, or rights in, the foregoing (the “Rights to Payment”). 

Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual
Property is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of September 15, 2020 include the Intellectual Property to the extent and only to the extent necessary to
permit perfection of Bank’s security interest in the Rights to Payment, and further provided, however, that Bank’s enforcement rights with respect to any security interest in the Intellectual Property shall be absolutely limited to the
Rights to Payment only, and Bank shall have no recourse whatsoever with respect to the underlying Intellectual Property. 

 SCHEDULE OF EXCEPTIONS 

Liens existing as of Effective Date – None. 

Indebtedness existing as of the Effective Date – None. 

 RESOLUTIONS TO GUARANTY AND WARRANT 

Guarantor: ADICET BIO, INC., a Delaware corporation formerly named resTORbio, Inc. 

The undersigned is the duly elected and qualified Secretary of ADICET BIO, INC., a Delaware corporation formerly named resTORbio, Inc. (the
“Guarantor”), does hereby certify that the following is a true and correct copy of the resolutions adopted by the Guarantor’s Board of Directors in accordance with applicable law and the Guarantor’s bylaws, and that such
resolutions are now unmodified and in full force and effect: 
 BE IT RESOLVED, that 

1) Any one (1) of the following named persons, whose actual signatures are shown below is authorized to act for, on behalf of, and in the
name of the Guarantor in connection with the resolutions below: 
  

					
	 Title
	  	 Name
	  	 Authorized Signature

	  
	  	  
	  	  

	  
	  	  
	  	  

	  
	  	  
	  	  

 In furtherance of the transactions contemplated by the Guaranty Documents (as defined below), such person, may, on behalf of
the Guarantor and is hereby authorized and empowered to: 
 Guaranty Indebtedness. Guaranty all amounts borrowed from time to time
from Bank by Borrower, pursuant to that certain Loan and Security Agreement between Borrower and Bank dated as of April 28, 2020 (the “Loan Agreement”), and any related agreements, each as amended from time to time. 

Execute Guaranty. Execute and deliver to Bank that certain Unconditional Secured Guaranty of even date herewith in favor of Bank (the
“Guaranty”), and any other agreement entered into between Guarantor and Bank in connection therewith, all as amended or extended from time to time (collectively, the “Guaranty Documents”), and also execute and deliver to Bank one
or more affirmations, renewals, extensions, modifications, refinancings, consolidations, or substitutions for the Guaranty Documents, or any portion thereof. 

Grant Security. Grant a security interest to Bank in the Collateral described in the Guaranty Documents, which security interest shall
secure all of the Borrower’s Obligations (as defined in the Loan Agreement). 
 Warrants. Issue a warrant or warrants to
purchase the Guarantor’s capital stock; 
 Further Acts. Do and perform such other acts and things, pay any and all fees and
costs, and execute and deliver such other documents and agreements as he or she may in his or her discretion deem reasonably necessary or proper in order to carry into effect the foregoing. 

2) Any and all acts authorized pursuant to these resolutions and performed prior to the passage of these resolutions are hereby ratified and
approved, that these resolutions shall remain in full force and effect and Bank may rely on these Resolutions until written notice of their revocation shall have been delivered to Bank. Any such notice shall not affect any of the Guarantor’s
agreements or commitments in effect at the time such notice is given. 

 3) The officers, employees, and agents named above are duly elected, appointed, or employed
by or for the Guarantor, as the case may be, and occupy the positions set forth opposite their respective names; the foregoing resolutions now stand of record on the books of the Guarantor; and the resolutions are in full force and effect and have
not been modified or revoked in any manner whatsoever. 
 IN WITNESS WHEREOF, I have affixed my name as Secretary on September 15, 2020
and attest that the signatures set opposite the names listed above are such individuals’ genuine signatures. 
  

			
	CERTIFIED TO AND ATTESTED BY:
		
	By:	 	              

		
	Name:	 	          

	
	Title: Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00314-of-00352.parquet"}]]