Document:

EX-10.2

 Exhibit 10.2 

FORM OF RESTRICTED STOCK AGREEMENT 

DICERNA PHARMACEUTICALS, INC. 

AGREEMENT made as of                     
(the “Grant Date”), between Dicerna Pharmaceuticals, Inc. (the “Company”), a Delaware corporation and
                     (the “Participant”). 

WHEREAS, the Company has adopted the Dicerna Pharmaceuticals, Inc. 2007 Employee, Director and Consultant Stock Plan (the
“Plan”) to promote the interests of the Company by providing an incentive for employees, directors and consultants of the Company or its Affiliates; 

WHEREAS, pursuant to the provisions of the Plan, the Company desires to grant to the Participant shares of the Company’s common stock,
$.0001 par value per share (“Common Stock”), in accordance with the provisions of the Plan, all on the terms and conditions hereinafter set forth; 

WHEREAS, Participant wishes to accept said grant; and 

WHEREAS, the parties hereto understand and agree that any terms used and not defined herein have the meanings ascribed to such terms in the
Plan. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Grant.
The Company hereby grants to the Participant, in accordance with the terms of the Plan and this Agreement,                     
(                    ) Shares of Common Stock (such shares, subject to adjustment pursuant to Paragraph 23 the Plan and Subsection 2.1(h)
hereof, the “Granted Shares”), at a purchase price per share of              (the “Purchase Price”), receipt of which is hereby acknowledged by the
Company. 
 2.1. Company’s Lapsing Repurchase Right. 

(a) Lapsing Repurchase Right. Except as set forth in Subsections 2.1(b) and 2.1(c) hereof, in the event that for any reason the
Participant no longer is an employee, director or consultant of the Company or an Affiliate, the Company (or its designee) shall have the option, but not the obligation, to purchase from the Participant (or the Participant’s Survivor), and, in
the event the Company exercises such option, the Participant (or the Participant’s Survivor) shall be obligated to sell to the Company (or its designee), at a price per Granted Share equal to
            ,                      of the Granted Shares set forth in clause (i) and
(ii), below (the “Lapsing Repurchase Right”). The Company’s Lapsing Repurchase Right shall be valid for a period of one year commencing with the date of such termination of service. Notwithstanding any other provision hereof,
in the event the Company is prohibited during such one year period from exercising its Lapsing Repurchase Right by Section 160 of the Delaware General Corporation Law as amended from time to time (or any successor provision), then the time
period during which such Lapsing Repurchase Right may be exercised shall be extended until 30 days after the Company is first not so prohibited. 

(i) If such termination is prior to the first anniversary of the Grant Date, the Company shall have the option to repurchase
all of the Granted Shares acquired by the Participant hereunder. 

  
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 (ii) If such termination is on or after the first anniversary of the Grant Date,
but prior to                     , the Company shall have the option to repurchase all of the Granted Shares less
             of the Granted Shares for each full [12 month] period elapsed after the Grant Date that the Participant continues to serve as an employee, director or consultant of the Company
or an Affiliate. 
 (b) Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be
an employee, director or consultant of the Company or an Affiliate by reason of “Disability” (as defined in the Plan) or death: to the extent the Company’s Lapsing Repurchase Right has not lapsed as of the date of Disability or
death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares
through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the
Participant’s date of Disability or death, as the case may be. 
 (c) Effect of a For Cause Termination. Notwithstanding
anything to the contrary contained in this Agreement, in the event the Company or an Affiliate terminates the Participant’s employment or service for “cause” (as defined in the Plan) or in the event the Administrator
determines, within one year after the Participant’s termination, that either prior or subsequent to the Participant’s termination the Participant engaged in conduct that would constitute “cause,” all of the Granted Shares then
held by the Participant shall be forfeited to the Company immediately as of the time the Participant is notified that he or she has been terminated for “cause” or that he or she engaged in conduct which would constitute “cause”.

 (d) Closing. In the event that the Company exercises the Lapsing Repurchase Right, the Company shall notify the Participant, or,
in the case of the Participant’s death, his or her Survivor, in writing of its intent to repurchase the Granted Shares. Such notice may be mailed by the Company up to and including the last day of the time period provided for above for exercise
of the Lapsing Repurchase Right. The notice shall specify the place, time and date for payment of the repurchase price (the “Closing”) and the number of Granted Shares with respect to which the Company is exercising the Lapsing
Repurchase Right. The Closing shall be not less than ten days nor more than sixty days from the date of mailing of the notice, and the Participant or the Participant’s Survivor with respect to the Granted Shares which the Company elects to
repurchase shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing, the repurchase price shall be delivered to the Participant or the Participant’s Survivor and the Granted Shares being
repurchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company by the Participant or the Participant’s Survivor. 

  
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 (e) Escrow. The certificates representing all Granted Shares acquired by the Participant
hereunder which from time to time are subject to the Lapsing Repurchase Right shall be delivered to the Company and the Company shall hold such Granted Shares in escrow as provided in this Subsection 2.1(e). Promptly following receipt by the
Company of a written request from the Participant, the Company shall release from escrow and deliver to the Participant a certificate for the whole number of Granted Shares, if any, as to which the Company’s Lapsing Repurchase Right has lapsed.
In the event of a repurchase by the Company of Granted Shares subject to the Lapsing Repurchase Right, the Company shall release from escrow and cancel a certificate for the number of Granted Shares so repurchased. Any securities distributed in
respect of the Granted Shares held in escrow, including, without limitation, shares issued as a result of stock splits, stock dividends or other recapitalizations, shall also be held in escrow in the same manner as the Granted Shares. 

(f) Prohibition on Transfer. The Participant recognizes and agrees that all Granted Shares which are subject to the Lapsing Repurchase
Right may not be sold, transferred, assigned, hypothecated, pledged, encumbered or otherwise disposed of, whether voluntarily or by operation of law, other than to the Company (or its designee). However, the Participant, with the approval of the
Administrator, may transfer the Granted Shares for no consideration to or for the benefit of the Participant’s Immediate Family (including, without limitation, to a trust for the benefit of the Participant’s Immediate Family or to a
partnership or limited liability company for one or more members of the Participant’s Immediate Family), subject to such limits as the Administrator may establish, and the transferee shall remain subject to all the terms and conditions
applicable to this Agreement prior to such transfer and each such transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such transfer. The term “Immediate Family” shall mean the
Participant’s spouse, former spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers, nieces and nephews and grandchildren (and, for this purpose, shall also include the Participant). The Company shall not be required
to transfer any Granted Shares on its books which shall have been sold, assigned or otherwise transferred in violation of this Subsection 2.1(f), or to treat as the owner of such Granted Shares, or to accord the right to vote as such owner or
to pay dividends to, any person or organization to which any such Granted Shares shall have been so sold, assigned or otherwise transferred, in violation of this Subsection 2.1(f). 

(g) Failure to Deliver Granted Shares to be Repurchased. In the event that the Granted Shares to be repurchased by the Company under
this Agreement are not in the Company’s possession pursuant to Subsection 2.1(e) above or otherwise and the Participant or the Participant’s Survivor fails to deliver such Granted Shares to the Company (or its designee), the Company
may elect (i) to establish a segregated account in the amount of the repurchase price, such account to be turned over to the Participant or the Participant’s Survivor upon delivery of such Granted Shares, and (ii) immediately to take
such action as is appropriate to transfer record title of such Granted Shares from the Participant to the Company (or its designee) and to treat the Participant and such Granted Shares in all respects as if delivery of such Granted Shares had been
made as required by this Agreement. The Participant hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence. 

  
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 (h) Adjustments. The Plan contains provisions covering the treatment of Shares in a number
of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to the Shares and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are
incorporated herein by reference. 
 2.2. General Restrictions on Transfer of Granted Shares. 

(a) Limitations on Transfer. In addition to the restrictions set forth above in Section 2.1, the Granted Shares acquired by the
Participant hereunder and no longer subject to the provisions of Section 2.1 herein (the “Vested Shares”) shall not be transferred by the Participant except as permitted herein, shall be subject to the provisions of
Sections 2.1 (f), (g) and (h) above and shall be subject to the repurchase rights described herein. 
 (b) Right to
Repurchase following Termination of Service. If the Participant’s service as an employee, director or consultant with the Company or an Affiliate shall be terminated for any reason other than for Cause, including due to death or Disability,
then the Company shall have the option to repurchase the Vested Shares not previously repurchased in accordance with the provisions of Section 2.1 of this Agreement as follows: 

(i) The Company’s option to repurchase the Vested Shares in the event of termination of service under this
Section 2.2(b) shall be valid for a period of one year commencing with the date of such termination of service. 
 (ii)
In the event the Company shall be entitled to and shall elect to exercise its option to repurchase the Vested Shares under this Section 2.2(b), the Company shall notify the Participant, or in case of death, his or her Survivor, in writing of
its intent to repurchase the Vested Shares. Such written notice may be mailed by the Company up to and including the last day of the time period provided for in Section 2.2(b)(i) for exercise of the Company’s option to repurchase. 

(iii) The written notice to the Participant shall specify the address at, and the time and date on, which payment of the
Repurchase Price (as defined herein) is to be made (the “Closing”). The date specified shall not be less than ten days nor more than 60 days from the date of the mailing of the notice, and the Participant or the Participant’s
Survivor with respect to the Vested Shares shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing, the Repurchase Price (as defined below) shall be delivered to the Participant or the
Participant’s Survivor and the Vested Shares being purchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company by the Participant or the Participant’s
Survivor. 
 (iv) The price paid per share for any Vested Shares repurchased hereunder (the “Repurchase
Price”) shall equal the Fair Market Value of such Vested Shares determined in accordance with the Plan as of the date of termination of service; provided, however, in the event of a termination by the Company for Cause, the per share
repurchase price of the Shares to be sold to the Company upon exercise of its option under this Section 2.2 shall be equal to the lesser of (A) the Fair Market Value of the Shares determined in accordance with the Plan as of the date of
termination of service, and (B) the Purchase Price. 

  
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 (c) Right to Repurchase on Proposed Transfer. It shall be a condition precedent to the
validity of any sale or other transfer of any Vested Shares by the Participant that the following restrictions be complied with (except as hereinafter otherwise provided): 

(i) No Vested Shares owned by the Participant may be sold, pledged or otherwise transferred (including by gift or devise) to
any person or entity, voluntarily, or by operation of law, except in accordance with the terms and conditions hereinafter set forth. 

(ii) Before selling or otherwise transferring all or part of the Vested Shares, the Participant shall give written notice of
such intention to the Company which notice shall include the name of the proposed transferee, the proposed purchase price per share, the terms of payment of such purchase price and all other matters relating to such sale or transfer and shall be
accompanied by a copy of the binding written agreement of the proposed transferee to purchase the Vested Shares of the Participant. Such notice shall constitute a binding offer by the Participant to sell to the Company such number of the Vested
Shares then held by the Participant as are proposed to be sold in the notice at the monetary price per share designated in such notice, payable on the terms offered to the Participant by the proposed transferee (provided, however, that the Company
shall not be required to meet any non-monetary terms of the proposed transfer, including, without limitation, delivery of other securities in exchange for the Vested Shares proposed to be sold). The Company shall give written notice to the
Participant as to whether such offer has been accepted in whole by the Company within 60 days after its receipt of written notice from the Participant. The Company may only accept such offer in whole and may not accept such offer in part. Such
acceptance notice shall specify a place, a time, and date for the closing on such purchase (the “Closing”) which shall not be less than ten nor more than 60 days after the giving of the acceptance notice. At the Closing, the
Participant shall accept payment as set forth herein and shall deliver to the Company in exchange therefor the Granted Shares being repurchased, duly endorsed for transfer, to the extent that they are not then in the possession of the Company. 

(iii) If the Company shall fail to accept any such offer, the Participant shall be free to sell all, but not less than all, of
the Vested Shares set forth in her notice to the designated transferee at the price and terms designated in the Participant’s notice; provided that (i) such sale is consummated within six months after the giving of notice by the
Participant to the Company as aforesaid, and (ii) the transferee first agrees in writing to be bound by the provisions of this Section 2.2(c) so that he or she (and all subsequent transferees) shall thereafter only be permitted to sell or
transfer the Vested Shares in accordance with the terms hereof. After the expiration of such six months, the provisions of this Section 2.2(c) shall again apply with respect to any proposed voluntary transfer of the Vested Shares. 

(iv) The provisions of this Section 2.2(c) may be waived by the Company. Any such waiver may be unconditional or based
upon such conditions as the Company may impose. 

  
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 (v) The restrictions on transfer contained in this Section 2.2(c) shall not
apply to (a) transfers by the Participant to his or her spouse or children or to a trust for the benefit of his or her spouse or children, (b) transfers by the Participant to his or her guardian or conservator, and (c) or transfers by
the Participant, in the event of his or her death, to his or her executor(s) or administrator(s) or to trustee(s) under his or her will (collectively, “Permitted Transferees”); provided however, that in any such event the Vested
Shares so transferred in the hands of each such Permitted Transferee shall remain subject to this Agreement, and each such Permitted Transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such transfer. 

(d) The provisions of Section 2.2(a) through (d) shall terminate upon the consummation of a public offering of any of the
Company’s securities pursuant to a registration statement filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended. 

(e) If in connection with a registration statement filed by the Company pursuant to the Securities Act of 1933, as amended (the “1933
Act”), the Company or its underwriter so requests, the Participant will agree not to sell any of her Vested Shares for a period not to exceed the lesser of: (i) 180 days following the effectiveness of such registration statement or
(ii) such period as the officers and directors of the Company agree not to sell their Common Stock of the Company. 
 (f) The
Participant acknowledges and agrees that neither the Company nor, its shareholders nor its directors and officers, has any duty or obligation to disclose to the Participant any material information regarding the business of the Company or affecting
the value of the Shares before, at the time of, or following a termination of the Participant’s service as an employee, director or consultant of the Company or an Affiliate, including, without limitation, any information concerning plans for
the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 
 3.
Legend. In addition to any legend required pursuant to the Plan, all certificates representing the Granted Shares to be issued to the Participant pursuant to this Agreement shall have endorsed thereon a legend substantially as follows: 

“The shares represented by this certificate are subject to restrictions set forth in a Restricted Stock Agreement dated as of
                , 200     with this Company, a copy of which Agreement is available for inspection at the offices of the Company or will be made
available upon request.” 
 4. Purchase for Investment; Securities Law Compliance. If the offering and sale of the Granted
Shares have not been effectively registered under the 1933 Act, the Participant hereby represents and warrants that he or she is acquiring the Granted Shares for his or her own account, for investment, and not with a view to, or for sale in
connection with, the distribution of any such Granted Shares. The Participant specifically acknowledges and agrees that any sales of Granted Shares shall be made in accordance with the requirements of the 1933 Act, in a transaction as to which the
Company shall have received an opinion of counsel satisfactory to it confirming such compliance. The Participant shall be bound by the provisions of the following legend which shall be endorsed upon the certificate(s) evidencing the Shares issued:

 “The shares represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any
person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel
satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws.” 

  
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 5. Incorporation of the Plan. The Participant specifically understands and agrees that the
Granted Shares issued under the Plan are being sold to the Participant pursuant to the Plan, a copy of which Plan the Participant acknowledges he or she has read and understands and by which Plan he or she agrees to be bound. The provisions of the
Plan are incorporated herein by reference. 
 6. Tax Liability of the Participant and Payment of Taxes. The Participant acknowledges
and agrees that any income or other taxes due from the Participant with respect to the Granted Shares issued pursuant to this Agreement, including, without limitation, the Lapsing Repurchase Right, shall be the Participant’s responsibility.
Without limiting the foregoing, the Participant agrees that, to the extent that the lapsing of restrictions on disposition of any of the Granted Shares or the declaration of dividends on any such shares before the lapse of such restrictions on
disposition results in the Participant’s being deemed to be in receipt of earned income under the provisions of the Code, the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld
by the Company. 
 Upon execution of this Agreement, the Participant may file an election under Section 83 of the Code in substantially
the form attached as Exhibit A. The Participant acknowledges that if he does not file such an election, as the Granted Shares are released from the Lapsing Repurchase Right in accordance with Section 2.1, the Participant will have income
for tax purposes equal to the fair market value of the Granted Shares at such date, less the price paid for the Granted Shares by the Participant. 

7. Equitable Relief. The Participant specifically acknowledges and agrees that in the event of a breach or threatened breach of the
provisions of this Agreement or the Plan, including the attempted transfer of the Granted Shares by the Participant in violation of this Agreement, monetary damages may not be adequate to compensate the Company, and, therefore, in the event of such
a breach or threatened breach, in addition to any right to damages, the Company shall be entitled to equitable relief in any court having competent jurisdiction. Nothing herein shall be construed as prohibiting the Company from pursuing any other
remedies available to it for any such breach or threatened breach. 
 8. No Obligation to Maintain Relationship. The Company is not
by the Plan or this Agreement obligated to continue the Participant as an employee, director or consultant of the Company or an Affiliate. The Participant acknowledges: (i) that the Plan is discretionary in nature and may be suspended or
terminated by the Company at any time; (ii) that the grant of the 

  
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Shares is a one-time benefit which does not create any contractual or other right to receive future grants of shares, or benefits in lieu of shares; (iii) that all determinations with
respect to any such future grants, including, but not limited to, the times when shares shall be granted, the number of shares to be granted, the purchase price, and the time or times when each share shall be free from a lapsing repurchase right,
will be at the sole discretion of the Company; (iv) that the Participant’s participation in the Plan is voluntary; (v) that the value of the Shares is an extraordinary item of compensation which is outside the scope of [the
Participant’s employment contract, if any]; and (vi) that the Shares are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards,
pension or retirement benefits or similar payments. 
 9. Notices. Any notices required or permitted by the terms of this Agreement
or the Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company: 
 Dicerna
Pharmaceuticals, Inc. 
 14 Peterson Circle 

Sudbury, MA 01776 
 If to the
Participant: 
  

					
	 	  	  
	  	 
		  	  
	  	
		  	  
	  	

 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be
deemed to have been given on the earliest of receipt, one business day following delivery by the sender to a recognized courier service, or three business days following mailing by registered or certified mail. 

10. Benefit of Agreement. Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the
benefit of and shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
 11. Governing
Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this
Agreement, whether at law or in equity, the parties hereby consent to exclusive jurisdiction in Commonwealth of Massachusetts and agree that such litigation shall be conducted in the courts of Essex County, Massachusetts or the federal courts of the
United States for the District of the Commonwealth of Massachusetts. 
 12. Severability. If any provision of this Agreement is held
to be invalid or unenforceable by a court of competent jurisdiction, then such provision or provisions shall be modified to the extent necessary to make such provision valid and enforceable, and to the extent that this is impossible, then such
provision shall be deemed to be excised from this Agreement, and the validity, legality and enforceability of the rest of this Agreement shall not be affected thereby. 

  
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 13. Entire Agreement. This Agreement, together with the Plan, constitutes the entire
agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty,
covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict the express terms and provisions of this Agreement provided, however, in any event, this Agreement shall be subject to and
governed by the Plan. 
 14. Modifications and Amendments; Waivers and Consents. The terms and provisions of this Agreement may be
modified or amended as provided in the Plan. Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the
benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall
be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

15. Counterparts. This Agreement may be executed in one or more counterparts, and by different parties hereto on separate counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 16. Data
Privacy. By entering into this Agreement, the Participant: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan record keeping services, to disclose to the
Company or any of its Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of Shares and the administration of the Plan; (ii) waives any data privacy rights he or she may have
with respect to such information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form. 

[THE NEXT PAGE IS THE SIGNATURE PAGE] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
above written. 
  

			
	COMPANY:
	
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PARTICIPANT:
	
	  

  
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 EXHIBIT A 

Election to Include Gross Income in Year 

of Transfer Pursuant to Section 83(b) 

of the Internal Revenue Code of 1986, as amended 

In accordance with Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”), the undersigned hereby elects
to include in his gross income as compensation for services the excess, if any, of the fair market value of the property (described below) at the time of transfer over the amount paid for such property. 

The following sets for the information required in accordance with the Code and the regulations promulgated hereunder: 

 

	1.	The name, address and social security number of the undersigned are: 

 Name: 

Address: 
 Social Security No.:

  

	2.	The description of the property with respect to which the election is being made is as follows: 

                    
(    ) shares (the “Shares”) of Common Stock, $.0001 par value per share, of Dicerna Pharmaceuticals, Inc., a Delaware corporation (the “Company”). 

 

	3.	This election is made for the calendar year     , with respect to the transfer of the property to the Taxpayer on
                    . 

  

	4.	Description of restrictions: The property is subject to the following restrictions: 

 In the
event taxpayer’s employment with the Company or an Affiliate is terminated, the Company may repurchase all or any portion of the Shares determined as set forth below at the acquisition price paid by the taxpayer: 

 

	 	A.	If the termination takes place on or prior to     , the Purchase Option will apply to all of the Shares. 

  

	 	B.	If the termination takes place after             , 200    , the number of Shares to which the Purchase Option applies shall be
                     (    ) Shares less
                     (    ) Shares for each full twelve (12) month period elapsed after
            , 200     if the taxpayer is employed by the Company or an Affiliate. 

  

	5.	The fair market value at time of transfer (determined without regard to any restrictions other than restrictions which by their terms will never lapse) of the property with respect to which this election is being made
was not more than $         per Share. 

  
 A-1 

	6.	The amount paid by taxpayer for said property was $         per Share. 

  

	7.	A copy of this statement has been furnished to the Company. 

 Signed this      day of
            , 200    . 
  

	
	  

	Print Name:

  
 A-2EX-10.3

 Exhibit 10.3 

FORM OF INCENTIVE STOCK OPTION AGREEMENT 

DICERNA PHARMACEUTICALS, INC. 

AGREEMENT made as of                     ,
between Dicerna Pharmaceuticals, Inc. (the “Company”), a Delaware corporation, and                     , an employee of the Company (the
“Employee”). 
 WHEREAS, the Company desires to grant to the Employee an Option to purchase shares of its common stock, $.0001 par
value per share (the “Shares”), under and for the purposes set forth in the Company’s 2007 Employee, Director and Consultant Stock Plan, as amended and/or restated from time to time (the “Plan”); 

WHEREAS, the Company and the Employee understand and agree that any terms used and not defined herein have the same meanings as in the Plan;
and 
 WHEREAS, the Company and the Employee each intend that the Option granted herein qualify as an ISO. 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties
hereto agree as follows: 
  

	 	1.	GRANT OF OPTION. 

 The Company hereby grants to the Employee the right and option to
purchase all or any part of an aggregate of                      (            ) Shares,
on the terms and conditions and subject to all the limitations set forth herein, under United States securities and tax laws, and in the Plan, which is incorporated herein by reference. The Employee acknowledges receipt of a copy of the Plan. 

 

	 	2.	PURCHASE PRICE. 

 The purchase price of the Shares covered by the Option shall be
$         per Share, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock split or other events affecting the holders of Shares (the “Purchase Price”). Payment
shall be made in accordance with Paragraph 8 of the Plan. 
  

	 	3.	EXERCISABILITY OF OPTION. 

 Subject to the terms and conditions set forth in this
Agreement and the Plan, the Option granted hereby shall become exercisable as follows: 
 The foregoing rights are cumulative and are
subject to the other terms and conditions of this Agreement and the Plan. 

	 	4.	TERM OF OPTION. 

 The Option shall terminate ten years from the date of this Agreement
or, if the Employee owns as of the date hereof more than 10% of the total combined voting power of all classes of capital stock of the Company or an Affiliate, five years from the date of this Agreement, but shall be subject to earlier termination
as provided herein or in the Plan. 
 If the Employee ceases to be an employee of the Company or of an Affiliate (for any reason other than
the death or Disability of the Employee or termination of the Employee’s employment for “cause” (as defined in the Plan), the Option may be exercised, if it has not previously terminated, within three months after the date the
Employee ceases to be an employee of the Company or an Affiliate, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised thereafter. In such event, the Option shall be exercisable only to the extent
that the Option has become exercisable and is in effect at the date of such cessation of employment. 
 Notwithstanding the foregoing, in
the event of the Employee’s Disability or death within three months after the termination of employment, the Employee or the Employee’s Survivors may exercise the Option within one year after the date of the Employee’s termination of
employment, but in no event after the date of expiration of the term of the Option. 
 In the event the Employee’s employment is
terminated by the Company for “cause” (as defined in the Plan), the Employee’s right to exercise any unexercised portion of this Option shall cease immediately as of the time the Employee is notified his employment is terminated for
“cause,” and this Option shall thereupon terminate. Notwithstanding anything herein to the contrary, if subsequent to the Employee’s termination as an employee, but prior to the exercise of the Option, the Board of Directors of the
Company determines that, either prior or subsequent to the Employee’s termination, the Employee engaged in conduct which would constitute “cause,” then the Employee shall immediately cease to have any right to exercise the Option and
this Option shall thereupon terminate. 
 In the event of the Disability of the Employee, as determined in accordance with the Plan, the
Option shall be exercisable within one year after the Employee’s termination of employment or, if earlier, within the term originally prescribed by the Option. In such event, the Option shall be exercisable: 

 

	 	(a)	to the extent that the Option has become exercisable but has not been exercised as of the date of Disability; and 

  

	 	(b)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of Disability of any additional vesting rights that would have accrued on the next vesting date had
the Employee not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of Disability. 

  
 2 

 In the event of the death of the Employee while an employee of the Company or of an Affiliate,
the Option shall be exercisable by the Employee’s Survivors within one year after the date of death of the Employee or, if earlier, within the originally prescribed term of the Option. In such event, the Option shall be exercisable: 

 

	 	(x)	to the extent that the Option has become exercisable but has not been exercised as of the date of death; and 

  

	 	(y)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that would have accrued on the next vesting date had the
Employee not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Employee’s date of death. 

  

	 	5.	METHOD OF EXERCISING OPTION. 

 Subject to the terms and conditions of this Agreement, the
Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto. Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be
signed by the person exercising the Option. Payment of the purchase price for such Shares shall be made in accordance with Paragraph 8 of the Plan. The Company shall deliver a certificate or certificates representing such Shares as soon as
practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including,
without limitation, state securities or “blue sky” laws). The certificate or certificates for the Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register in the name of the person
so exercising the Option (or, if the Option shall be exercised by the Employee and if the Employee shall so request in the notice exercising the Option, shall be registered in the name of the Employee and another person jointly, with right of
survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other than the Employee, such
notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and nonassessable. 

 

	 	6.	PARTIAL EXERCISE. 

 Exercise of this Option to the extent above stated may be made in
part at any time and from time to time within the above limits, except that no fractional share shall be issued pursuant to this Option. 
  

	 	7.	NON-ASSIGNABILITY. 

 The Option shall not be transferable by the Employee otherwise than
by will or by the laws of descent and distribution. The Option shall be exercisable, during the Employee’s lifetime, only by the Employee (or, in the event of legal incapacity or incompetency, by the Employee’s guardian or representative)
and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any attempted transfer, assignment, pledge, hypothecation or

  
 3 

 
other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the Option shall be
null and void. 
  

	 	8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

 The Employee shall have no rights as a
stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the Employee. Except as is expressly provided in the Plan with respect to certain changes in the
capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such registration. 
  

	 	9.	ADJUSTMENTS. 

 The Plan contains provisions covering the treatment of Options in a number
of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors to the business of the Company are hereby made applicable
hereunder and are incorporated herein by reference. 
  

	 	10.	TAXES. 

 The Employee acknowledges that any income or other taxes due from him with
respect to this Option or the Shares issuable pursuant to this Option shall be the Employee’s responsibility. 
 The Employee
acknowledges and agrees that (i) the Employee was free to use professional advisors of his or her choice in connection with this Agreement, has received advice from his or her professional advisors in connection with this Agreement, understands
its meaning and import, and is entering into this Agreement freely and without coercion or duress; (ii) the Employee has not received and is not relying upon any advice, representations or assurances made by or on behalf of the Company or any
Affiliate or any employee of or counsel to the Company or any Affiliate regarding any tax or other effects or implications of the Option, the Shares or other matters contemplated by this Agreement and (iii) neither the Company its Affiliates,
nor any of its officers or directors, shall be held liable for any applicable costs, taxes, or penalties associated with the Option if, in fact, the Internal Revenue Service were to determine that the Option constitutes deferred compensation under
Section 409A of the Code. 
 In the event of a Disqualifying Disposition (as defined in Section 16 below) or if the Option is
converted into a Non-Qualified Option and such Non-Qualified Option is exercised, the Company may withhold from the Employee’s remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes attributable to such
amount that is considered compensation includable in such person’s gross income. At the Company’s discretion, the amount required to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise
deliverable to the Employee on exercise of the Option. The Employee further agrees that, if the Company does not withhold an amount from the Employee’s remuneration sufficient to satisfy the Company’s income tax withholding obligation, the
Employee will reimburse the Company on demand, in cash, for the amount under-withheld. 

  
 4 

	 	11.	PURCHASE FOR INVESTMENT. 

 Unless the offering and sale of the Shares to be issued upon
the particular exercise of the Option shall have been effectively registered under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by
such exercise unless and until the following conditions have been fulfilled: 
  

	 	(a)	The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise, that such person(s) are acquiring such Shares for their own respective accounts, for investment, and not with a view to,
or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by the provisions of the following legend which shall be endorsed upon the certificate(s) evidencing the Shares
issued pursuant to such exercise: 

 “The shares represented by this certificate have been taken for investment and they
may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the Securities Act of 1933, as amended, or (b) the
Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all applicable state securities laws;” and 

“The shares represented by this certificate are subject to restrictions set forth in an Incentive Stock Option Agreement dated
                     with this Company, a copy of which Agreement is available for inspection at the offices of the Company or will be made available
upon request.” 
  

	 	(b)	If the Company so requires, the Company shall have received an opinion of its counsel that the Shares may be issued upon such particular exercise in compliance with the 1933 Act without registration thereunder. Without
limiting the generality of the foregoing, the Company may delay issuance of the Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any applicable law (including without limitation state
securities or “blue sky” laws). 

  

	 	12.	RESTRICTIONS ON TRANSFER OF SHARES. 

 12.1 The Shares acquired by the Employee pursuant
to the exercise of the Option granted hereby shall not be transferred by the Employee except as permitted herein. 
 12.2 In the event of
the Employee’s termination of employment for any reason, the Company shall have the option, but not the obligation, to repurchase all or any part of the Shares issued pursuant to this Agreement (including, without limitation, Shares purchased
after termination of employment, Disability or death in accordance with Section 4 hereof). In the event the Company does not, upon the termination of employment of the Employee (as described above), exercise its option pursuant to this
Section 12.2, the restrictions set forth in the balance 

  
 5 

 
of this Agreement shall not thereby lapse, and the Employee for himself, his heirs, legatees, executors, administrators and other successors in interest, agrees that the Shares shall remain
subject to such restrictions. The following provisions shall apply to a repurchase under this Section 12.2: 
  

	 	(i)	The per share repurchase price of the Shares to be sold to the Company upon exercise of its option under this Section 12.2 shall be equal to the Fair Market Value of each such Share determined in accordance with
the Plan as of the date of termination of employment; provided, however, in the event of a termination by the Company for “cause” (as defined in the Plan), the per share repurchase price of the Shares to be sold to the Company upon
exercise of its option under this Section 12.2 shall be equal to the lesser of (a) the Fair Market Value of each such Shares, determined in accordance with the Plan as of the date of such termination, and (b) the Purchase Price.

  

	 	(ii)	The Company’s option to repurchase the Employee’s Shares in the event of termination of employment shall be valid for a period of 18 months commencing with the date of such termination of employment.

  

	 	(iii)	In the event the Company shall be entitled to and shall elect to exercise its option to repurchase the Employee’s Shares under this Section 12.2, the Company shall notify the Employee, or in case of death, his
Survivor, in writing of its intent to repurchase the Shares. Such written notice may be mailed by the Company up to and including the last day of the time period provided for in Section 12.2(ii) for exercise of the Company’s option to
repurchase. 

  

	 	(iv)	The written notice to the Employee shall specify the address at, and the time and date on, which payment of the repurchase price is to be made (the “Closing”). The date specified shall not be less than ten
days nor more than 60 days from the date of the mailing of the notice, and the Employee or his successor in interest with respect to the Shares shall have no further rights as the owner thereof from and after the date specified in the notice. At the
Closing, the repurchase price shall be delivered to the Employee or his successor in interest and the Shares being purchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to
the Company by the Employee or his successor in interest. 

 12.3 It shall be a condition precedent to the validity of any
sale or other transfer of any Shares by the Employee that the following restrictions be complied with (except as hereinafter otherwise provided): 
  

	 	(i)	No Shares owned by the Employee may be sold, pledged or otherwise transferred (including by gift or devise) to any person or entity, voluntarily, or by operation of law, except in accordance with the terms and
conditions hereinafter set forth. 

  

	 	(ii)	 Before selling or otherwise transferring all or part of the Shares, the Employee shall give written notice of such intention to the Company, which
notice shall 

  
 6 

	 	
include the name of the proposed transferee, the proposed purchase price per share, the terms of payment of such purchase price and all other matters relating to such sale or transfer and shall
be accompanied by a copy of the binding written agreement of the proposed transferee to purchase the Shares of the Employee. Such notice shall constitute a binding offer by the Employee to sell to the Company such number of the Shares then held by
the Employee as are proposed to be sold in the notice at the monetary price per share designated in such notice, payable on the terms offered to the Employee by the proposed transferee (provided, however, that the Company shall not be required to
meet any non-monetary terms of the proposed transfer, including, without limitation, delivery of other securities in exchange for the Shares proposed to be sold). The Company shall give written notice to the Employee as to whether such offer has
been accepted in whole by the Company within 60 days after its receipt of written notice from the Employee. The Company may only accept such offer in whole and may not accept such offer in part. Such acceptance notice shall fix a time, location and
date for the closing on such purchase (“Closing Date”) which shall not be less than ten nor more than 60 days after the giving of the acceptance notice. The place for such closing shall be at the Company’s principal office. At such
closing, the Employee shall accept payment as set forth herein and shall deliver to the Company in exchange therefor certificates for the number of Shares stated in the notice accompanied by duly executed instruments of transfer. 

 

	 	(iii)	If the Company shall fail to accept any such offer, the Employee shall be free to sell all, but not less than all, of the Shares set forth in his notice to the designated transferee at the price and terms designated in
the Employee’s notice, provided that (i) such sale is consummated within six months after the giving of notice by the Employee to the Company as aforesaid, and (ii) the transferee first agrees in writing to be bound by the provisions
of this Section 12 so that such transferee (and all subsequent transferees) shall thereafter only be permitted to sell or transfer the Shares in accordance with the terms hereof. After the expiration of such six months, the provisions of this
Section 12.3 shall again apply with respect to any proposed voluntary transfer of the Employee’s Shares. 

  

	 	(iv)	The restrictions on transfer contained in this Section 12.3 shall not apply to (a) transfers by the Employee to his spouse or children or to a trust for the benefit of his spouse or children,
(b) transfers by the Employee to his guardian or conservator, and (c) transfers by the Employee, in the event of his death, to his Survivors or to trustee(s) under his will (collectively, “Permitted Transferees”); provided
however, that in any such event the Shares so transferred in the hands of each such Permitted Transferee shall remain subject to this Agreement, and each such Permitted Transferee shall so acknowledge in writing as a condition precedent to the
effectiveness of such transfer. 

  

	 	(v)	The provisions of this Section 12.3 may be waived by the Company. Any such waiver may be unconditional or based upon such conditions as the Company may impose. 

  
 7 

 12.4 In the event that the Employee or his successor in interest fails to deliver the Shares to
be repurchased by the Company under this Agreement, the Company may elect (a) to establish a segregated account in the amount of the repurchase price, such account to be turned over to the Employee or his successor in interest upon delivery of
such Shares, and (b) immediately to take such action as is appropriate to transfer record title of such Shares from the Employee to the Company and to treat the Employee and such Shares in all respects as if delivery of such Shares had been
made as required by this Agreement. The Employee hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence. 

12.5 If the Company shall pay a stock dividend or declare a stock split on or with respect to any of its Common Stock, or otherwise distribute
securities of the Company to the holders of its Common Stock, the number of shares of stock or other securities of Company issued with respect to the shares then subject to the restrictions contained in this Agreement shall be added to the Shares
subject to the Company’s rights to repurchase pursuant to this Agreement. If the Company shall distribute to its stockholders shares of stock of another corporation, the shares of stock of such other corporation, distributed with respect to the
Shares then subject to the restrictions contained in this Agreement, shall be added to the Shares subject to the Company’s rights to repurchase pursuant to this Agreement. 

12.6 If the outstanding shares of Common Stock of the Company shall be subdivided into a greater number of shares or combined into a smaller
number of shares, or in the event of a reclassification of the outstanding shares of Common Stock of the Company, or if the Company shall be a party to a merger, consolidation or capital reorganization, there shall be substituted for the Shares then
subject to the restrictions contained in this Agreement such amount and kind of securities as are issued in such subdivision, combination, reclassification, merger, consolidation or capital reorganization in respect of the Shares subject immediately
prior thereto to the Company’s rights to repurchase pursuant to this Agreement. 
 12.7 The Company shall not be required to transfer
any Shares on its books which shall have been sold, assigned or otherwise transferred in violation of this Agreement, or to treat as owner of such Shares, or to accord the right to vote as such owner or to pay dividends to, any person or
organization to which any such Shares shall have been so sold, assigned or otherwise transferred, in violation of this Agreement. 
 12.8
The provisions of Sections 12.1, 12.2 and 12.3 shall terminate upon the consummation of a public offering of any of the Company’s securities pursuant to a registration statement filed with the Securities and Exchange Commission pursuant to the
1933 Act. 
 12.9 If, in connection with a registration statement filed by the Company pursuant to the 1933 Act, the Company or its
underwriter so requests, the Employee will agree not to sell any Shares for a period not to exceed 180 days following the effectiveness of such registration. 

12.10 The Employee acknowledges and agrees that neither the Company, its shareholders nor its directors and officers, has any duty or
obligation to disclose to the Employee any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a termination of the employment of the Employee by

  
 8 

 
the Company, including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm
or entity. 
 12.11 All certificates representing the Shares to be issued to the Employee pursuant to this Agreement shall have endorsed
thereon a legend substantially as follows: “The shares represented by this certificate are subject to restrictions set forth in an Incentive Stock Option Agreement dated
                     with this Company, a copy of which Agreement is available for inspection at the offices of the Company or will be made available
upon request.” 
  

	 	13.	DRAG ALONG RIGHTS. 

 In the event that an Investor Majority (as defined below) (the
“Selling Investors”) approve a Sale Event (as defined below), then the Employee hereby agrees: 
  

	 	(a)	if such transaction requires stockholder approval, with respect to all Securities (as defined below) that such Employee owns or over which such Employee otherwise exercises voting power, to vote (in person, by proxy or
by action by written consent, as applicable) all Securities in favor of, and adopt, such Sale Event (together with any related amendment to the Certificate of Incorporation of the Company, as amended and/or restated from time to time (the
“Charter”) required in order to implement such Sale Event) and to vote in opposition to any and all other proposals that could delay or impair the ability of the Company to consummate such Sale Event; 

 

	 	(b)	if such transaction is a Stock Sale (as defined below), to sell the same proportion of shares of capital stock of the Company beneficially held by such Employee as is being sold by the Selling Investors to the Person to
whom the Selling Investors propose to sell their Securities, and, on the same terms and conditions as the Selling Investors, subject to payment of the Series A Preference Amount (as defined in the Charter), which may be waived for all Investors by
an Investor Majority; 

  

	 	(c)	to execute and deliver all related documentation and take such other action in support of the Sale Event as shall reasonably be requested by the Company or the Selling Investors in order to carry out the terms and
provision of this Section 13, including without limitation executing and delivering instruments of conveyance and transfer, and any purchase agreement, merger agreement, indemnity agreement, escrow agreement, consent, waiver, governmental
filing, share certificates duly endorsed for transfer (free and clear of impermissible liens, claims and encumbrances) and any similar or related documents; 

  

	 	(d)	not to deposit, except as provided in this Agreement, any Securities of the Company owned by such Employee in a voting trust or subject any Securities to any arrangement or agreement with respect to the voting of such
Securities, unless specifically requested to do so by the acquiror in connection with the Sale Event; and 

  
 9 

	 	(e)	to refrain from exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect to such Sale Event. 

If the consideration to be paid in exchange for the Securities pursuant to this Section 13 includes any securities and due receipt thereof
by the Employee would require under applicable law (x) the registration or qualification of such securities or of any person as a broker or dealer or agent with respect to such securities or (y) the provision to the Employee of any
information other than such information as a prudent issuer would generally furnish in an offering made solely to “accredited investors” as defined in Regulation D promulgated under the Securities Act, the Company may cause to be paid to
the Employee in lieu thereof, against surrender of the Securities which would have otherwise been sold by the Employee, an amount in cash equal to the fair value (as determined in good faith by the Company) of the securities which the Employee would
otherwise receive as of the date of the issuance of such securities in exchange for the Securities. 
 If the Employee fails
or refuses to vote or sell its Shares as required by this Section 13, then the Employee hereby irrevocably constitutes and appoints the Company and any representative or agent thereof, with full power of substitution, as its true and lawful
attorney-in-fact with full irrevocable power and authority in the place and stead of the Employee and in the name of the Employee or in its own name, for the purpose of carrying out the terms of this Section 13, to take any and all appropriate
action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Section 13. The Employee hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue
hereof. 
 For purposes of this Section 13, (a) a “Sale Event” shall mean either (i) a transaction
or series of related transactions in which a Person, or a group of related Persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company (a “Stock
Sale”), or (ii) a transaction that is or could be treated as a Liquidation Event (as defined in the Charter); (b) “Securities” shall mean, at any time, shares of (i) Common Stock (including the Shares under this
Agreement), (ii) Preferred Stock, and (iii) any other equity securities now or hereafter issued by the Company, together with any options thereon and any other shares of stock issued or issuable with respect thereto (whether by way of a
stock dividend, stock split or in exchange for or upon conversion of such shares or other corporate reorganization); (c) “Common Stock” shall mean the Company’s Common Stock, par value $.0001 per share, and any other common
equity securities issued by the Company, and any other shares of stock issued or issuable with respect thereto (whether by way of a stock dividend or stock split or in exchange for or upon conversion of such shares or otherwise in connection with a
combination of shares recapitalization, merger, consolidation or other corporate reorganization); (d) “Preferred Stock” shall mean the Series A Preferred Stock, together with any shares issued or issuable with respect thereto (whether
by way of a stock dividend or stock split or in exchange for or in replacement of 

  
 10 

 
such shares or otherwise in connection with a combination of shares, recapitalization, merger, consolidation or other corporate reorganization); (e) “Series A Preferred Stock”
shall mean shares of the Company’s Series A Preferred Stock, par value $.0001 per share; (f) “Investor Majority” shall mean the holders of not less than fifty eight percent (58%) of the issued and outstanding shares of
Series A Preferred Stock held by all of such holders; and (g) “Person” shall mean an individual, a corporation, an association, a joint venture, a partnership, a limited liability company, an estate, a trust, an unincorporated
organization and any other entity or organization, governmental or otherwise. 
  

	 	14.	NO OBLIGATION TO EMPLOY. 

 The Company is not by the Plan or this Option obligated to
continue the Employee as an employee of the Company or an Affiliate. The Employee acknowledges: (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Option
is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to,
the times when options shall be granted, the number of shares subject to each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iv) that the Employee’s
participation in the Plan is voluntary; (v) that the value of the Option is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; and (vi) that the Option is not part of normal
or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 

 

	 	15.	OPTION IS INTENDED TO BE AN ISO. 

 The parties each intend that the Option to be an ISO
so that the Employee (or the Employee’s Survivors) may qualify for the favorable tax treatment provided to holders of Options that meet the standards of Section 422 of the Code. Any provision of this Agreement or the Plan which conflicts
with the Code so that this Option would not be deemed an ISO is null and void and any ambiguities shall be resolved so that the Option qualifies as an ISO. Nonetheless, if the Option is determined not be an ISO, the Employee understands that neither
the Company nor any Affiliate is responsible to compensate him or otherwise make up for the treatment of the Option as a Non-qualified Option and not as an ISO. The Employee should consult with the Employee’s own tax advisors regarding the tax
effects of the Option and the requirements necessary to obtain favorable tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. 

 

	 	16.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 

 The Employee agrees to notify the
Company in writing immediately after the Employee makes a Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the Option. A Disqualifying Disposition is defined in Section 424(c) of the Code and includes any
disposition (including any sale) of such Shares before the later of (a) two years after the date the Employee was granted the Option or (b) one year after the date the Employee acquired Shares by exercising the Option, except as otherwise
provided in Section 424(c) of the Code. If the Employee has died before the Shares are sold, these holding period requirements do not apply and no Disqualifying Disposition can occur thereafter. 

  
 11 

	 	17.	NOTICES. 

 Any notices required or permitted by the terms of this Agreement or the Plan
shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 
  

					
	If to the Company:	  		  	
		  	 Dicerna Pharmaceuticals, Inc.
 480
Arsenal Street
 Building 1, Suite 120
 Watertown, MA
02472
	  	
			
	If to the Employee:	  		  	
		  	  
	  	
		  	  
	  	
		  	  
	  	
		  	  
	  	

 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice shall be
deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

 

	 	18.	GOVERNING LAW. 

 This Agreement shall be construed and enforced in accordance with the
law of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive jurisdiction in the Commonwealth of
Massachusetts and agree that such litigation shall be conducted in the courts of Essex County, Massachusetts or the federal courts of the United States for the District of the Commonwealth of Massachusetts. 

 

	 	19.	BENEFIT OF AGREEMENT. 

 Subject to the provisions of the Plan and the other provisions
hereof, this Agreement shall be for the benefit of and shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
  

	 	20.	ENTIRE AGREEMENT. 

 This Agreement, together with the Plan, embodies the entire agreement
and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or
agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided, however, in any event, this Agreement shall be subject to and governed by the
Plan. 

  
 12 

	 	21.	MODIFICATIONS AND AMENDMENTS. 

 The terms and provisions of this Agreement may be
modified or amended as provided in the Plan. 
  

	 	22.	WAIVERS AND CONSENTS. 

 Except as provided in the Plan, the terms and provisions of this
Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a
waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not
constitute a continuing waiver or consent. 
  

	 	23.	DATA PRIVACY. 

 By entering into this Agreement, the Employee: (i) authorizes the
Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its Affiliates such information and data as the Company or any such
Affiliate shall request in order to facilitate the grant of options and the administration of the Plan; (ii) waives any data privacy rights he may have with respect to such information; and (iii) authorizes the Company and each Affiliate
to store and transmit such information in electronic form. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 13 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized
officer, and the Employee has hereunto set his hand, all as of the day and year first above written. 
  

					
	DICERNA PHARMACEUTICALS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	  

  
 14 

 Exhibit A 

NOTICE OF EXERCISE OF INCENTIVE STOCK OPTION 

[Form for Unregistered Shares] 
  

	To:	Dicerna Pharmaceuticals, Inc. 

 480 Arsenal Street 

Building 1, Suite 120 
 Watertown,
MA 02472 
 Ladies and Gentlemen: 
 I hereby
exercise my Incentive Stock Option to purchase          shares (the “Shares”) of the common stock, $.0001 par value, of Dicerna Pharmaceuticals, Inc. (the “Company”), at the exercise price
of [$         ] per share, pursuant to and subject to the terms of that certain Incentive Stock Option Agreement between the undersigned and the Company dated
                    . 
 I am aware that
the Shares have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws. I understand that the reliance by the Company on exemptions under the 1933 Act is predicated in part upon the
truth and accuracy of the statements by me in this Notice of Exercise. 
 I hereby represent and warrant that (1) I have been furnished
with all information which I deem necessary to evaluate the merits and risks of the purchase of the Shares; (2) I have had the opportunity to ask questions concerning the Shares and the Company and all questions posed have been answered to my
satisfaction; (3) I have been given the opportunity to obtain any additional information I deem necessary to verify the accuracy of any information obtained concerning the Shares and the Company; and (4) I have such knowledge and
experience in financial and business matters that I am able to evaluate the merits and risks of purchasing the Shares and to make an informed investment decision relating thereto. 

I hereby represent and warrant that I am purchasing the Shares for my own personal account for investment and not with a view to the sale or
distribution of all or any part of the Shares. 
 I understand that because the Shares have not been registered under the 1933 Act, I must
continue to bear the economic risk of the investment for an indefinite time and the Shares cannot be sold unless the Shares are subsequently registered under applicable federal and state securities laws or an exemption from such registration
requirements is available. 
 I agree that I will in no event sell or distribute or otherwise dispose of all or any part of the Shares
unless (1) there is an effective registration statement under the 1933 Act and applicable state securities laws covering any such transaction involving the Shares or (2) the Company receives an opinion of my legal counsel (concurred in by
legal counsel for the Company) stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration. 

  
 A-1 

 I consent to the placing of a legend on my certificate for the Shares stating that the Shares
have not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any transfer agents against the Shares until the Shares may be legally resold
or distributed without restriction. 
 I understand that at the present time Rule 144 of the Securities and Exchange Commission (the
“SEC”) may not be relied on for the resale or distribution of the Shares by me. I understand that the Company has no obligation to me to register the sale of the Shares with the SEC and has not represented to me that it will register the
sale of the Shares. 
 I understand the terms and restrictions on the right to dispose of the Shares set forth in the 2007 Employee,
Director and Consultant Stock Plan, as amended and restated from time to time, and the Incentive Stock Option Agreement, both of which I have carefully reviewed. I consent to the placing of a legend on my certificate for the Shares referring to such
restriction and the placing of stop transfer orders until the Shares may be transferred in accordance with the terms of such restrictions. 

I have considered the Federal, state and local income tax implications of the exercise of my Option and the purchase and subsequent sale of
the Shares. 
 I am paying the option exercise price for the Shares as follows: 

 
  

Please issue the stock certificate for the Shares (check one): 

 ̈ to me; or 

 ̈ to me and
                    , as joint tenants with right of survivorship 

and mail the certificate to me at the following address: 
  

	
	  

	  

	  

  
 A-2 

 My mailing address for shareholder communications, if different from the address listed above is:

  

	
	  

	  

	  

  

	
	Very truly yours,
	
	  

	Employee (signature)
	
	  

	Print Name
	
	  

	Date
	
	  

	Social Security Number

  
 A-3 

 Exhibit A 

NOTICE OF EXERCISE OF INCENTIVE STOCK OPTION 

[Form For Registered Shares] 
  

	To:	Dicerna Pharmaceuticals, Inc. 

 480 Arsenal Street 

Building 1, Suite 120 
 Watertown,
MA 02472 
 IMPORTANT NOTICE: This form of Notice of Exercise may only be used at such time as the Company has filed a Registration Statement with the
Securities and Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and such Registration Statement remains effective. 

Ladies and Gentlemen: 
 I hereby exercise my
Incentive Stock Option to purchase              shares (the “Shares”) of the common stock, $.0001 par value, of Dicerna Pharmaceuticals, Inc. (the “Company”), at the
exercise price of              per share, pursuant to and subject to the terms of that certain Incentive Stock Option Agreement between the undersigned and the Company dated
                    . 
 I understand
the nature of the investment I am making and the financial risks thereof. I am aware that it is my responsibility to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and securities laws
affecting the exercise of the Option and the purchase and subsequent sale of the Shares. 
 I am paying the option exercise price for the
Shares as follows: 
  
  

Please issue the Shares (check one): 

 ̈ to me; or 

 ̈ to me and
                                        , as
joint tenants with right of survivorship, 
 at the following address: 

 

					
		 	  
	 	
		 	  
	 	
		 	  
	 	

  
 A-4 

 My mailing address for shareholder communications, if different from the address listed above,
is: 
  

					
		 	  
	 	
		 	  
	 	
		 	  
	 	

  

	
	Very truly yours,
	
	  

	Employee (signature)
	
	  

	Print Name
	
	  

	Date
	
	  

	Social Security Number

  
 A-5

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