Document:

EX-10.3

 Exhibit 10.3 

SPARK THERAPEUTICS INC. 

NONSTATUTORY STOCK OPTION AGREEMENT 

GRANTED UNDER 2014 STOCK INCENTIVE PLAN 

 

	1.	Grant of Option. 

 This Nonstatutory Stock Option Agreement (the
“Agreement”) evidences the grant by Spark Therapeutics Inc., a Delaware corporation (the “Company”), on [             , 20    ] (the
“Grant Date”) to [                    ], an employee, consultant or director of the Company (the “Participant”), of
an option to purchase, in whole or in part, on the terms provided herein and in the Company’s 2014 Stock Incentive Plan (the “Plan”), a total of
[                ] shares (the “Shares”) of common stock, $0.001 par value per share, of the Company (“Common Stock”) at
$[        ] per Share. Unless earlier terminated, this option shall expire at 5:00 p.m., Eastern time, on [             , 20    ]
(the “Final Exercise Date”). 
 It is intended that the option evidenced by this Agreement shall not be an
incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term
“Participant”, as used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms. 
  

	2.	Vesting Schedule. 

 This option will become exercisable (“vest”)
as to 25% of the original number of Shares on the first anniversary of the Vesting Commencement Date (as defined below) and as to an additional 6.25% of the original number of Shares at the end of each successive quarter following the first
anniversary of the Vesting Commencement Date until the fourth anniversary of the Vesting Commencement Date. On the fourth anniversary of the Vesting Commencement Date, this option will be exercisable as to all Shares. For purposes of this Agreement,
“Vesting Commencement Date” shall mean [                    ]. 

The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it
shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan. 

 

	3.	Exercise of Option. 

 (a) Form of Exercise. Each election to exercise this option
shall be accompanied by a completed Notice of Stock Option Exercise in the form attached hereto as Exhibit A, signed by the Participant, and received by the Company at its principal office, accompanied by this Agreement, and payment in full
in the manner provided in the Plan. The Participant may purchase less than the number of Shares covered hereby, provided that no partial exercise of this option may be for any fractional share or for fewer than ten whole shares. 

 (b) Continuous Relationship with the Company Required. Except as otherwise provided in
this Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee, officer or director of, or consultant or advisor to, the
Company or any other entity the employees, officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”). 

(c) Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any reason, then, except
as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be exercisable
only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the non-competition or confidentiality
provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such violation. 

(d) Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3)
of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within
the period of one year following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this
option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date. 

(e) Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment or other relationship with the
Company is terminated by the Company for Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment or other relationship. If, prior to the Final Exercise Date,
the Participant is given notice by the Company of the termination of his or her employment or other relationship by the Company for Cause, and the effective date of such employment or other termination is subsequent to the date of the delivery of
such notice, the right to exercise this option shall be suspended from the time of the delivery of such notice until the earlier of (i) such time as it is determined or otherwise agreed that the Participant’s employment or other
relationship shall not be terminated for Cause as provided in such notice or (ii) the effective date of such termination of employment or other relationship (in which case the right to exercise this option shall, pursuant to the preceding
sentence, terminate immediately upon the effective date of such termination of employment or other relationship). If the Participant is party to an employment, consulting or severance agreement with the Company that contains a definition of
“cause” for termination of employment or other relationship, “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean willful misconduct by the Participant or willful failure
by the Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or other similar agreement
between the Participant and the Company), as determined by the Company, which determination 

  
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shall be conclusive. The Participant’s employment or other relationship shall be considered to have been terminated for “Cause” if the Company determines, within 30 days after the
Participant’s resignation, that termination for Cause was warranted. 
  

	4.	Company Right of First Refusal. 

 (a) Notice of Proposed Transfer. If the
Participant proposes to sell, assign, transfer, pledge, hypothecate or otherwise dispose of, by operation of law or otherwise (collectively, “transfer”) any Shares acquired upon exercise of this option, then the Participant shall first
give written notice of the proposed transfer (the “Transfer Notice”) to the Company. The Transfer Notice shall name the proposed transferee and state the number of such Shares the Participant proposes to transfer (the
“Offered Shares”), the price per share and all other material terms and conditions of the transfer. 
 (b) Company Right
to Purchase. For 30 days following its receipt of such Transfer Notice, the Company shall have the option to purchase all or part of the Offered Shares at the price and upon the terms set forth in the Transfer Notice. In the event the Company
elects to purchase all or part of the Offered Shares, it shall give written notice of such election to the Participant within such 30-day period. Within 10 days after his or her receipt of such notice, the Participant shall tender to the Company at
its principal offices the certificate or certificates representing the Offered Shares to be purchased by the Company, duly endorsed in blank by the Participant or with duly endorsed stock powers attached thereto, all in a form suitable for transfer
of the Offered Shares to the Company. Promptly following receipt of such certificate or certificates, the Company shall deliver or mail to the Participant a check in payment of the purchase price for such Offered Shares; provided that
if the terms of payment set forth in the Transfer Notice were other than cash against delivery, the Company may pay for the Offered Shares on the same terms and conditions as were set forth in the Transfer Notice; and provided further
that any delay in making such payment shall not invalidate the Company’s exercise of its option to purchase the Offered Shares. 
 (c)
Shares Not Purchased By Company. If the Company does not elect to acquire all of the Offered Shares, the Participant may, within the 30-day period following the expiration of the option granted to the Company under subsection (b) above,
transfer the Offered Shares which the Company has not elected to acquire to the proposed transferee, provided that such transfer shall not be on terms and conditions more favorable to the transferee than those contained in the Transfer
Notice. Notwithstanding any of the above, all Offered Shares transferred pursuant to this Section 4 shall remain subject to the right of first refusal set forth in this Section 4 and such transferee shall, as a condition to such transfer,
deliver to the Company a written instrument confirming that such transferee shall be bound by all of the terms and conditions of this Section 4. 

(d) Consequences of Non-Delivery. After the time at which the Offered Shares are required to be delivered to the Company for transfer
to the Company pursuant to subsection (b) above, the Company shall not pay any dividend to the Participant on account of such Offered Shares or permit the Participant to exercise any of the privileges or rights of a stockholder with respect to
such Offered Shares, but shall, insofar as permitted by law, treat the Company as the owner of such Offered Shares. 

  
 -3- 

 (e) Exempt Transactions. The following transactions shall be exempt from the provisions of
this Section 4: 
 (1) any transfer of Shares to or for the benefit of any spouse, child or grandchild of the Participant, or to a
trust for their benefit; 
 (2) any transfer pursuant to an effective registration statement filed by the Company under the
Securities Act of 1933, as amended (the “Securities Act”); and 
 (3) the sale of all or substantially all of the
outstanding shares of capital stock of the Company (including pursuant to a merger or consolidation); 
 provided, however, that in the case
of a transfer pursuant to clause (1) above, such Shares shall remain subject to the right of first refusal set forth in this Section 4. 

(f) Assignment of Company Right. The Company may assign its rights to purchase Offered Shares in any particular transaction under this
Section 4 to one or more persons or entities. 
 (g) Termination. The provisions of this Section 4 shall terminate upon the
earlier of the following events: 
 (1) the closing of the sale of shares of Common Stock in an underwritten public offering pursuant to an
effective registration statement filed by the Company under the Securities Act; or 
 (2) the sale of all or substantially all of the
outstanding shares of capital stock, assets or business of the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially all of the individuals and entities who were beneficial
owners of the Company’s voting securities immediately prior to such transaction beneficially own, directly or indirectly, more than 75% (determined on an as-converted basis) of the outstanding securities entitled to vote generally in the
election of directors of the resulting, surviving or acquiring corporation in such transaction). 
 (h) No Obligation to Recognize
Invalid Transfer. The Company shall not be required (1) to transfer on its books any of the Shares which shall have been sold or transferred in violation of any of the provisions set forth in this Section 4, or (2) to treat as
owner of such Shares or to pay dividends to any transferee to whom any such Shares shall have been so sold or transferred. 
 (i)
Legends. The certificate representing Shares shall bear a legend substantially in the following form (in addition to, or in combination with, any legend required by applicable federal and state securities laws and agreements relating to the
transfer of the Company securities): 
 “The shares represented by this certificate are subject to a right of first refusal in favor of
the Company, as provided in a certain stock option agreement with the Company.” 

  
 -4- 

	5.	Agreement in Connection with Initial Public Offering. 

 The Participant agrees, in
connection with the initial underwritten public offering of the Common Stock pursuant to a registration statement under the Securities Act, (i) not to (a) offer, pledge, announce the intention to sell, sell, contract to sell, sell any
option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any other securities of the Company
or (b) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of shares of Common Stock or other securities of the Company, whether any transaction described in clause
(a) or (b) is to be settled by delivery of securities, in cash or otherwise, during the period beginning on the date of the filing of such registration statement with the Securities and Exchange Commission and ending 180 days after the
date of the final prospectus relating to the offering (plus up to an additional 34 days to the extent requested by the managing underwriters for such offering in order to address NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4) or any similar successor
provision), and (ii) to execute any agreement reflecting clause (i) above as may be requested by the Company or the managing underwriters at the time of such offering. The Company may impose stop-transfer instructions with respect to the
shares of Common Stock or other securities subject to the foregoing restriction until the end of the “lock-up” period. 
  

	6.	Withholding. 

 No Shares will be issued pursuant to the exercise of this option unless
and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option. 

 

	7.	Transfer Restrictions. 

 (a) This option may not be sold, assigned, transferred, pledged
or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant.

 (b) The Participant agrees that he or she will not transfer any Shares issued pursuant to the exercise of this option unless the
transferee, as a condition to such transfer, delivers to the Company a written instrument confirming that such transferee shall be bound by all of the terms and conditions of Section 4 and Section 5; provided that such a written
confirmation shall not be required with respect to (1) Section 4 after such provision has terminated in accordance with Section 4(g) or (2) Section 5 after the completion of the lock-up period in connection with the
Company’s initial underwritten public offering. 
  

	8.	Provisions of the Plan. 

 This option is subject to the provisions of the Plan (including
the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with this option. 
 [Remainder of Page
Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
above written. The Participant hereby accepts the foregoing option and agrees to the terms and conditions thereof. The Participant hereby acknowledges receipt of a copy of the Company’s 2014 Stock Incentive Plan. 

 

					
	COMPANY:
	
	SPARK THERAPEUTICS, INC.
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 
					
	
	PARTICIPANT:
		
	By:	 	  

		 	[Name]	 	

 
					
		
	Address:	 	[                                    
    ]
		 	[                                    
    ]

 
					
	
	SPOUSAL CONSENT:
		
	By:	 	  

		 	Name:	 	  

 
					
		
	Address:	 	[                                    
    ]
		 	[                                    
    ]

 SIGNATURE PAGE TO NONSTATUTORY STOCK OPTION AGREEMENT 

 EXHIBIT A 

NOTICE OF STOCK OPTION EXERCISE 

[DATE] 
 Spark Therapeutics, Inc. 

3501 Civic Center Boulevard 
 Philadelphia, PA 19104 

Attention: Treasurer 
 Dear Sir or Madam: 

I am the holder of a Nonstatutory Stock Option granted to me under the Spark Therapeutics, Inc. (the “Company”) 2014
Stock Incentive Plan on [                    ] for the purchase of
[                ] shares of Common Stock of the Company at a purchase price of $[        ] per share. 

I hereby exercise my option to purchase
[                ] shares of Common Stock (the “Shares”), for which I have enclosed
[                    ] in the amount of [        ]. Please register my stock certificate as follows:

  

							
	Name(s):	  	  
	 		 	
				
		  	  
	 		 	
				
	Address:	  	  
	 		 	
				
		  	  
	 		 	

 I represent, warrant and covenant as follows: 

1. I am purchasing the Shares for my own account for investment only, and not with a view to, or for sale in connection with, any distribution of the Shares
in violation of the Securities Act of 1933 (the “Securities Act”), or any rule or regulation under the Securities Act. 
 2. I have had
such opportunity as I have deemed adequate to obtain from representatives of the Company such information as is necessary to permit me to evaluate the merits and risks of my investment in the Company. 

3. I have sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase of the Shares and to
make an informed investment decision with respect to such purchase. 
 4. I can afford a complete loss of the value of the Shares and am able to bear the
economic risk of holding such Shares for an indefinite period. 

 5. I understand that (i) the Shares have not been registered under the Securities Act and are
“restricted securities” within the meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold, transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an exemption
from registration is then available; (iii) in any event, the exemption from registration under Rule 144 will not be available for at least one year and even then will not be available unless a public market then exists for the Common Stock,
adequate information concerning the Company is then available to the public, and other terms and conditions of Rule 144 are complied with; and (iv) there is now no registration statement on file with the Securities and Exchange Commission with
respect to any stock of the Company and the Company has no obligation or current intention to register the Shares under the Securities Act. 
 6. If
requested by the Company, I shall promptly sign a counterpart signature page to (i) the Voting Agreement, dated May     , 2014, as amended from time to time, by and among the Company and the parties thereto, and/or
(ii) the Right of First Refusal and Co-Sale Agreement, dated May     , 2014, as amended from time to time, by and among the Company and the parties thereto. 

 

	
	Very truly yours,
	
	  

	[Name]

  
 -8-EX-10.4

 Exhibit 10.4 

SPARK THERAPEUTICS, INC. 

RESTRICTED STOCK AGREEMENT 

GRANTED UNDER 2014 STOCK INCENTIVE PLAN 

This Restricted Stock Agreement (the “Agreement”) is made this [    ] day of
[            ], 20[    ], between [Company], a Delaware corporation (the “Company”), and
[                            ] (the “Participant”). 

For valuable consideration, receipt of which is acknowledged, the parties hereto agree as follows: 

1. Purchase of Shares. 

The Company shall issue and sell to the Participant, and the Participant shall purchase from the Company, subject to the terms and
conditions set forth in this Agreement and in the Company’s 2014 Stock Incentive Plan (the “Plan”), [                ] shares (the
“Shares”) of common stock, $0.001 par value, of the Company (“Common Stock”), at a purchase price of $[        ] per share. The aggregate purchase price for the Shares shall
be paid by the Participant by check payable to the order of the Company or such other method as may be acceptable to the Company. Upon receipt by the Company of payment for the Shares, the Company shall issue to the Participant one or more
certificates in the name of the Participant for that number of Shares purchased by the Participant. The Participant agrees that the Shares shall be subject to the purchase options set forth in Sections 3 and 6 of this Agreement and the
restrictions on transfer set forth in Section 5 of this Agreement. 
 2. Certain Definitions. 

(a) [”Cause” shall exist upon (i) a good faith finding by the Board of Directors of the Company (A) of repeated and
willful failure of the Participant after written notice to perform such Participant’s reasonably assigned duties for the Company, or (B) that the Participant has engaged in dishonesty, gross negligence or misconduct, which dishonesty,
gross negligence or misconduct has had a material adverse effect on the business affairs of the Company; (ii) the conviction of the Participant of, or the entry of a pleading of guilty or nolo contendere by the Participant to, any crime
involving moral turpitude or any felony; or (iii) a breach by the Participant of any material provision of any invention and non-disclosure agreement or non-competition and non-solicitation agreement with the Company, which breach is not cured
within ten days written notice thereof.]1 
 (b) “Change in Control”
shall mean the sale of all or substantially all of the outstanding shares of capital stock, assets or business of the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially
all 
  
  

	1 	 Delete if acceleration is not being used. 

 
of the individuals and entities who were beneficial owners of the Company’s voting securities immediately prior to such transaction beneficially own, directly or indirectly, more than 75%
(determined on an as-converted basis) of the outstanding securities entitled to vote generally in the election of directors of the resulting, surviving or acquiring corporation in such transaction). 

(c) [”Good Reason” shall exist upon (i) the relocation of the Company’s offices such that such Participant’s
daily commute is increased by at least thirty (30) miles each way without the written consent of the Participant; (ii) material reduction of the Participant’s annual base salary without the prior consent of the Participant (other than
in connection with, and substantially proportionate to, reductions by the Company of the annual base salary of more than fifty percent (50%) of its employees); or (iii) material diminution in the Participant’s duties, authority or
responsibilities without the prior consent of the Participant, other than changes in duties, authority or responsibilities resulting from the Participant’s misconduct; provided, however, that any reduction in duties, authority or
responsibilities or reduction in the level of management to which the Participant reports resulting solely from a Change in Control which results in the Company being acquired by and made a part of a larger entity shall not constitute Good
Reason; provided, further, however, that no such events or conditions shall constitute Good Reason unless (x) the Participant gives the Company a written notice of termination for Good Reason not more than ninety (90) days after the
initial existence of the event or condition, (y) the grounds for termination, if susceptible to correction, are not corrected by the Company within thirty (30) days of its receipt of such notice and (z) the Participant’s
termination of Service occurs within six months following the Company’s receipt of such notice.]2 

(d) “Service” shall mean employment by or the provision of services to the Company or a parent or subsidiary thereof as an
advisor, officer, consultant or member of the Board of Directors. 
 (e) “Vesting Commencement Date” shall mean
[                    ]. 
 3.
Purchase Option. 
 (a) In the event that the Participant ceases to provide Service to the Company for any reason or no reason, with
or without Cause, prior to the [fourth (4th)] anniversary of the Vesting Commencement Date, the Company shall have the right and option (the “Purchase Option”) to purchase from
the Participant, for a sum of [$        ] per share (the “Option Price”), some or all of the Shares as set forth herein. 

(b) All of the Shares shall initially be subject to the Purchase Option. The Participant shall acquire a vested interest in, and the
Company’s Purchase Option shall accordingly lapse with respect to, (i) twenty-five percent (25%) of the Shares upon Participant’s completion of one (1) year of Service measured from the Vesting Commencement Date and
(ii) the balance of the Shares in a series of successive equal monthly installments of 1/16 of the Shares upon Participant’s completion of each additional quarter of Service over the twelve (12)-quarter period measured from the first
anniversary of the Vesting Commencement Date. 
  
  

	2 	Delete if acceleration is not being used. 

  
 - 2 - 

 (c) [If[        , within twelve (12) months]
following a Change in Control of the Company, the Participant’s employment with the Company is terminated (i) by the Company without Cause or (ii) by the Participant for Good Reason, then the vesting schedule of the Shares shall be
accelerated such that [100%] of Shares then subject to the Purchase Option shall immediately become vested and free from the Purchase Option on the date of such termination.]3,4 

4. Exercise of Purchase Option and Closing. 

(a) The Company may exercise the Purchase Option by delivering or mailing to the Participant (or Participant’s estate), within 90 days
after the termination of the Service of the Participant with the Company, a written notice of exercise of the Purchase Option. Such notice shall specify the number of Shares to be purchased. If and to the extent the Purchase Option is not so
exercised by the giving of such a notice within such 90-day period, the Purchase Option shall automatically expire and terminate effective upon the expiration of such 90-day period. 

(b) Within ten (10) days after delivery to the Participant of the Company’s notice of the exercise of the Purchase Option pursuant
to subsection (a) above, the Participant (or Participant’s estate) shall, pursuant to the provisions of the Joint Escrow Instructions referred to in Section 8 below, tender to the Company at its principal offices the certificate or
certificates representing the Shares that the Company has elected to purchase in accordance with the terms of this Agreement, duly endorsed in blank or with duly endorsed stock powers attached thereto, all in form suitable for the transfer of such
Shares to the Company. Promptly following its receipt of such certificate or certificates, the Company shall pay to the Participant the aggregate Option Price for such Shares (provided that any delay in making such payment shall not invalidate the
Company’s exercise of the Purchase Option with respect to such Shares). 
 (c) After the time at which any Shares are required to be
delivered to the Company for transfer to the Company pursuant to subsection (b) above, the Company shall not pay any dividend to the Participant on account of such Shares or permit the Participant to exercise any of the privileges or rights of
a stockholder with respect to such Shares, but shall, in so far as permitted by law, treat the Company as the owner of such Shares. 
 (d)
The Option Price may be payable, at the option of the Company, in cancellation of all or a portion of any outstanding indebtedness of the Participant to the Company or in cash (by check) or both. 

(e) The Company shall not purchase any fraction of a Share upon exercise of the Purchase Option, and any fraction of a Share resulting from a
computation made pursuant to Section 3 of this Agreement shall be rounded to the nearest whole Share (with any one-half Share being rounded upward). 
  

 

	3 	Delete Section 3(c) and the associated definitions if the shares are not subject to acceleration. 

	4 	To include single-trigger acceleration, add the following in front of the first sentence of Section 3(b): If the Company undergoes a Change in Control, then the vesting schedule of the Shares shall be accelerated
by [percentage] ([##]%) of the then Unvested Shares. 

  
 - 3 - 

 (f) The Company may assign its Purchase Option to one or more persons or entities. 

5. Restrictions on Transfer. 

(a) The Participant shall not sell, assign, transfer, pledge, hypothecate or otherwise dispose of, by operation of law or otherwise
(collectively “transfer”) any Shares, or any interest therein, that are subject to the Purchase Option, except that the Participant may transfer such Shares (i) to or for the benefit of any spouse, children, parents, uncles, aunts,
siblings, grandchildren and any other relatives approved by the Board of Directors (collectively, “Approved Relatives”) or to a trust established solely for the benefit of the Participant and/or Approved Relatives, provided that
such Shares shall remain subject to this Agreement (including without limitation the restrictions on transfer set forth in this Section 5, the Purchase Option and the right of first refusal set forth in Section 6) and such permitted
transferee shall, as a condition to such transfer, deliver to the Company a written instrument confirming that such transferee shall be bound by all of the terms and conditions of this Agreement or (ii) as part of the sale of all or
substantially all of the shares of capital stock of the Company (including pursuant to a merger or consolidation), provided that, in accordance with the Plan, the securities or other property received by the Participant in connection with
such transaction shall remain subject to this Agreement. 
 (b) The Participant shall not transfer any Shares, or any interest therein, that
are no longer subject to the Purchase Option, except in accordance with Section 6 below. 
 6. Right of First Refusal. 

(a) If the Participant proposes to transfer any Shares that are no longer subject to the Purchase Option (either because they are no longer
Unvested Shares or because the Purchase Option expired unexercised), then the Participant shall first give written notice of the proposed transfer (the “Transfer Notice”) to the Company. The Transfer Notice shall name the proposed
transferee and state the number of such Shares the Participant proposes to transfer (the “Offered Shares”), the price per share and all other material terms and conditions of the transfer. 

(b) For 30 days following its receipt of such Transfer Notice, the Company shall have the option to purchase all or part of the Offered Shares
at the price and upon the terms set forth in the Transfer Notice. In the event the Company elects to purchase all or part of the Offered Shares, it shall give written notice of such election to the Participant within such 30-day period. Within 10
days after such Participant’s receipt of such notice, the Participant shall tender to the Company at its principal offices the certificate or certificates representing the Offered Shares to be purchased by the Company, duly endorsed in blank by
the Participant or with duly endorsed stock powers attached thereto, all in a form suitable for transfer of the Offered Shares to the Company. Promptly following receipt of such certificate or certificates, the Company shall deliver or mail to the
Participant a check in payment of the purchase price for such Offered Shares; provided that if the terms of payment set forth in the Transfer Notice were other than cash against delivery, the Company may pay for the Offered Shares on
the same terms and conditions as were set forth in the Transfer Notice; and provided further that any delay in making such payment shall not invalidate the Company’s exercise of its option to purchase the Offered Shares. 

  
 - 4 - 

 (c) If the Company does not elect to acquire any of the Offered Shares, the Participant may,
within the 30-day period following the expiration of the option granted to the Company under subsection (b) above, transfer the Offered Shares which the Company has not elected to acquire to the proposed
transferee, provided that such transfer shall not be on terms and conditions more favorable to the transferee than those contained in the Transfer Notice. Notwithstanding any of the above, all Offered Shares transferred pursuant to
this Section 6 shall remain subject to this Agreement (including without limitation the restrictions on transfer set forth in Section 5 and the right of first refusal set forth in this Section 6) and such transferee shall, as a
condition to such transfer, deliver to the Company a written instrument confirming that such transferee shall be bound by all of the terms and conditions of this Agreement. 

(d) After the time at which the Offered Shares are required to be delivered to the Company for transfer to the Company pursuant to subsection
(b) above, the Company shall not pay any dividend to the Participant on account of such Offered Shares or permit the Participant to exercise any of the privileges or rights of a stockholder with respect to such Offered Shares, but shall,
insofar as permitted by law, treat the Company as the owner of such Offered Shares. 
 (e) The following transactions shall be exempt from
the provisions of this Section 6: 
 (1) a transfer of Shares to or for the benefit of any Approved Relatives, or to a trust
established solely for the benefit of the Participant and/or Approved Relatives; 
 (2) any transfer pursuant to an effective registration
statement filed by the Company under the Securities Act of 1933, as amended (the “Securities Act”); and 
 (3) the sale of all or
substantially all of the outstanding shares of capital stock of the Company (including pursuant to a merger or consolidation); 
 provided, however,
that in the case of a transfer pursuant to clause (1) above, such Shares shall remain subject to this Agreement (including without limitation the restrictions on transfer set forth in Section 5 and the right of first refusal set forth in
this Section 6) and such transferee shall, as a condition to such transfer, deliver to the Company a written instrument confirming that such transferee shall be bound by all of the terms and conditions of this Agreement. 

(f) The Company may assign its rights to purchase Offered Shares in any particular transaction under this Section 6 to one or more
persons or entities. 
 (g) The provisions of this Section 6 shall terminate upon the earlier of the following events: 

  
 - 5 - 

 (1) the closing of the sale of shares of Common Stock in an underwritten public offering
pursuant to an effective registration statement filed by the Company under the Securities Act; or 
 (2) a Change in Control of the
Company. 
 (h) The Company shall not be required (1) to transfer on its books any of the Shares which shall have been sold or
transferred in violation of any of the provisions set forth in this Agreement, or (2) to treat as owner of such Shares or to pay dividends to any transferee to whom any such Shares shall have been so sold or transferred. 

7. Agreement in Connection with Initial Public Offering. 

The Participant agrees, in connection with the initial underwritten public offering of the Common Stock pursuant to a registration statement
under the Securities Act, (i) not to (a) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to
purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for shares of Common Stock or (b) enter into any swap or other agreement that
transfers, in whole or in part, any of the economic consequences of ownership of shares of Common Stock, whether any transaction described in clause (a) or (b) is to be settled by delivery of shares of Common Stock or other securities, in
cash or otherwise, during the period beginning on the date of the filing of such registration statement with the Securities and Exchange Commission and ending 180 days from the date of the final prospectus relating to the offering (plus up to an
additional 34 days to the extent requested by the managing underwriters for such offering in order to address NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4) or any similar successor provision), and (ii) to execute any agreement reflecting clause
(i) above as may be requested by the Company or the managing underwriters at the time of such offering. The Company may impose stop-transfer instructions with respect to the shares of Common Stock or other securities subject to the foregoing
restriction until the end of the “lock-up” period. 
 8. Escrow. 

The Participant shall, upon the execution of this Agreement, execute Joint Escrow Instructions in the form attached to this Agreement as
Exhibit A. The Joint Escrow Instructions shall be delivered to the Secretary of the Company, as escrow agent thereunder. The Participant shall deliver to such escrow agent a stock assignment duly endorsed in blank, in the form attached to
this Agreement as Exhibit B, and hereby instructs the Company to deliver to such escrow agent, on behalf of the Participant, the certificate(s) evidencing the Shares issued hereunder. Such materials shall be held by such escrow agent pursuant
to the terms of such Joint Escrow Instructions. 

  
 - 6 - 

 9. Restrictive Legends. 

All certificates representing Shares shall have affixed thereto legends in substantially the following form, in addition to any other legends
that may be required under federal or state securities laws: 
 “The shares of stock represented by this certificate are subject to
restrictions on transfer and an option to purchase set forth in a certain Restricted Stock Agreement between the corporation and the registered owner of these shares (or such owner’s predecessor in interest), and such Agreement is available for
inspection without charge at the office of the Secretary of the corporation.” 
 “The shares represented by this certificate have
not been registered under the Securities Act of 1933, as amended, and may not be sold, transferred or otherwise disposed of in the absence of an effective registration statement under such Act or an opinion of counsel satisfactory to the corporation
to the effect that such registration is not required.” 
 10. Provisions of the Plan. 

This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this Agreement. 

11. Investment Representations. 

The Participant represents, warrants and covenants as follows: 

(a) The Participant is purchasing the Shares for Participant’s own account for investment only, and not with a view to, or for sale in
connection with, any distribution of the Shares in violation of the Securities Act, or any rule or regulation under the Securities Act. 

(b) The Participant has had such opportunity as Participant has deemed adequate to obtain from representatives of the Company such information
as is necessary to permit him to evaluate the merits and risks of Participant’s investment in the Company. 
 (c) The Participant has
sufficient experience in business, financial and investment matters to be able to evaluate the risks involved in the purchase of the Shares and to make an informed investment decision with respect to such purchase. 

(d) The Participant can afford a complete loss of the value of the Shares and is able to bear the economic risk of holding such Shares for an
indefinite period. 
 (e) The Participant understands that (i) the Shares have not been registered under the Securities Act and are
“restricted securities” within the meaning of Rule 144 under the Securities Act; (ii) the Shares cannot be sold, transferred or otherwise disposed of unless they are subsequently registered under the Securities Act or an
exemption from registration is then available; (iii) in any event, the exemption from registration under Rule 144 will not be available 

  
 - 7 - 

 
for at least one year and even then will not be available unless a public market then exists for the Common Stock, adequate information concerning the Company is then available to the public, and
other terms and conditions of Rule 144 are complied with; and (iv) there is now no registration statement on file with the Securities and Exchange Commission with respect to any stock of the Company and the Company has no obligation or
current intention to register the Shares under the Securities Act. 
 12. Withholding Taxes; Section 83(b) Election. 

(a) The Participant acknowledges and agrees that the Company has the right to deduct from payments of any kind otherwise due to the Participant
any federal, state or local taxes of any kind required by law to be withheld with respect to the purchase of the Shares by the Participant or the lapse of the Purchase Option. 

(b) The Participant has reviewed with the Participant’s own tax advisors the federal, state, local and foreign tax consequences of this
investment and the transactions contemplated by this Agreement. The Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. The Participant understands that the Participant
(and not the Company) shall be responsible for the Participant’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. The Participant understands that it may be beneficial in many
circumstances to elect to be taxed at the time the Shares are granted by the Company rather than when and as the Company’s Purchase Option expires by filing an election under Section 83(b) of the Internal Revenue Code of 1986 with the
I.R.S. within 30 days from the date of grant by the Company. 
 THE PARTICIPANT ACKNOWLEDGES THAT IT IS SOLELY THE PARTICIPANT’S
RESPONSIBILITY AND NOT THE COMPANY’S TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF THE PARTICIPANT REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON THE PARTICIPANT’S BEHALF. 

13. Miscellaneous. 
 (a)
No Rights to Employment. The Participant acknowledges and agrees that the vesting of the Shares pursuant to Section 3 hereof is earned only by Participant’s continuous Service to the Company (not through the act of being hired or
purchasing the Shares hereunder). The Participant further acknowledges and agrees that the transactions contemplated hereunder and the vesting schedule set forth herein do not constitute an express or implied promise of continued engagement as an
employee or consultant for the vesting period, for any period, or at all. 
 (b) Severability. The invalidity or unenforceability of
any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

  
 - 8 - 

 (c) Waiver. Any provision for the benefit of the Company contained in this Agreement may
be waived, either generally or in any particular instance, by the Board of Directors of the Company. 
 (d) Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the Company and the Participant and their respective heirs, executors, administrators, legal representatives, successors and assigns, subject to the restrictions on transfer set forth in
Sections 5 and 6 of this Agreement. 
 (e) Notice. All notices required or permitted hereunder shall be in writing and deemed
effectively given upon personal delivery or five days after deposit in the United States Post Office, by registered or certified mail, postage prepaid, addressed to the other party hereto at the address shown beneath his or her or its respective
signature to this Agreement, or at such other address or addresses as either party shall designate to the other in accordance with this Section 13(e). 

(f) Pronouns. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. 
 (g) Entire Agreement.
This Agreement and the Plan constitute the entire agreement between the parties, and supersedes all prior agreements and understandings, relating to the subject matter of this Agreement. 

(h) Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Participant.

 (i) Governing Law. This Agreement shall be construed, interpreted and enforced in accordance with the internal laws of the State
of Delaware without regard to any applicable conflict of law principles. 
 (j) Participant’s Acknowledgments. The Participant
acknowledges that he or she: (i) has read this Agreement; (ii) has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Participant’s own choice or has voluntarily declined to seek
such counsel; (iii) understands the terms and consequences of this Agreement; (iv) is fully aware of the legal and binding effect of this Agreement; and (v) understands that the law firm of WilmerHale is acting as counsel to the
Company in connection with the transactions contemplated by the Agreement, and is not acting as counsel for the Participant. 
 [Remainder of
Page Intentionally Left Blank] 

  
 - 9 - 

 IN WITNESS WHEREOF, the parties hereto have executed the Restricted Stock Agreement as of the
date and year first above written. The Participant hereby accepts the foregoing option and agrees to the terms and conditions thereof. The Participant hereby acknowledges receipt of a copy of the Company’s 2014 Stock Incentive Plan. 

 

			
	COMPANY:
	
	Spark Therapeutics, Inc.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	Address:	 	3501 Civic Center Boulevard
		 	Philadelphia, PA 19104
	
	PARTICIPANT:
		
	By:	 	  

	Name:	 	  

		
	Address:	 	[                            ]
		 	[                            ]
	
	SPOUSAL CONSENT:
		
	By:	 	  

	Name:	 	  

		
	Address:	 	[                            ]
		 	[                            ]

 SIGNATURE PAGE TO RESTRICTED STOCK AGREEMENT 

GRANTED UNDER STOCK INCENTIVE PLAN 

 EXHIBIT A 

JOINT ESCROW INSTRUCTIONS 

 SPARK THERAPEUTICS, INC. 

JOINT ESCROW INSTRUCTIONS 

[            , 20    ] 

Spark Therapeutics, Inc. 
 3501 Civic Center Boulevard 

Philadelphia, PA 19104 
 Attention: Secretary 

Dear Secretary: 
 As Escrow Agent for Spark
Therapeutics, Inc., a Delaware corporation (the “Company”), and its successors in interest under the Restricted Stock Agreement (the “Agreement”) of even date herewith, to which a copy of these Joint Escrow
Instructions is attached, and the undersigned person (“Holder”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of the Agreement in accordance with the following instructions:

 1. Appointment. Holder irrevocably authorizes the Company to deposit with you any certificates evidencing Shares (as defined in
the Agreement) to be held by you hereunder and any additions and substitutions to said Shares. For purposes of these Joint Escrow Instructions, “Shares” shall be deemed to include any additional or substitute property. Holder does
hereby irrevocably constitute and appoint you as his or her attorney-in-fact and agent for the term of this escrow to execute with respect to such Shares all documents necessary or appropriate to make such Shares negotiable and to complete any
transaction herein contemplated. Subject to the provisions of this Section 1 and the terms of the Agreement, Holder shall exercise all rights and privileges of a stockholder of the Company while the Shares are held by you. 

2. Closing of Purchase. 

(a) Upon any purchase by the Company of the Shares pursuant to the Agreement, the Company shall give to Holder and you a written notice
specifying the number of Shares to be purchased, the purchase price for the Shares, as determined pursuant to the Agreement, and the time for a closing hereunder (the “Closing”) at the principal office of the Company. Holder and the
Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 

(b) At the Closing, you are directed (i) to date the stock assignment form or forms necessary for the transfer of the Shares,
(ii) to fill in on such form or forms the number of Shares being transferred, and (iii) to deliver the same, together with the certificate or certificates evidencing the Shares to be transferred, to the Company against the simultaneous
delivery to you of the purchase price for the Shares being purchased pursuant to the Agreement. 
 3. Withdrawal. The Holder shall
have the right to withdraw from this escrow any Shares as to which the Purchase Option (as defined in the Agreement) has terminated or expired. 

 4. Duties of Escrow Agent. 

(a) Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 

(b) You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in
relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties. You shall not be personally liable for any act you may do or omit to do hereunder as
Escrow Agent or as attorney-in-fact of Holder while acting in good faith and in the exercise of your own good judgment, and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith.

 (c) You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or
entity, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. If you are uncertain of any actions to be taken or instructions to be followed, you may
refuse to act in the absence of an order, judgment or decrees of a court. In case you obey or comply with any such order, judgment or decree of any court, you shall not be liable to any of the parties hereto or to any other person or entity, by
reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 

(d) You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering or
purporting to execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 
 (e) You shall be entitled to
employ such legal counsel and other experts as you may deem necessary properly to advise you in connection with your obligations hereunder and may rely upon the advice of such counsel. 

(f) Your rights and responsibilities as Escrow Agent hereunder shall terminate if (i) you cease to be Secretary of the Company or
(ii) you resign by written notice to each party. In the event of a termination under clause (i), your successor as Secretary shall become Escrow Agent hereunder; in the event of a termination under clause (ii), the Company shall
appoint a successor Escrow Agent hereunder. 
 (g) If you reasonably require other or further instruments in connection with these Joint
Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
 (h) It is
understood and agreed that if you believe a dispute has arisen with respect to the delivery and/or ownership or right of possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without
liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time
for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 

  
 A - 2 

 (i) These Joint Escrow Instructions set forth your sole duties with respect to any and all
matters pertinent hereto and no implied duties or obligations shall be read into these Joint Escrow Instructions against you. 
 (j) The
Company shall indemnify you and hold you harmless against any and all damages, losses, liabilities, costs, and expenses, including attorneys’ fees and disbursements, (including without limitation the fees of counsel retained pursuant to
Section 4(e) above, for anything done or omitted to be done by you as Escrow Agent in connection with this Agreement or the performance of your duties hereunder, except such as shall result from your gross negligence or willful misconduct. 

5. Notice. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal
delivery or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties thereunto entitled at the following addresses, or at such other addresses as a party may
designate by ten days’ advance written notice to each of the other parties hereto. 
  

			
	COMPANY:	  	Notices to the Company shall be sent to the address set forth in the salutation hereto, Attn: President
		
	HOLDER:	  	Notices to Holder shall be sent to the address set forth below Holder’s signature below.
		
	ESCROW AGENT:	  	Notices to the Escrow Agent shall be sent to the address set forth in the salutation hereto.

 6. Miscellaneous. 

(a) By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of said Joint Escrow Instructions, and you do
not become a party to the Agreement. 
 (b) This instrument shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. 
 [Remainder of Page Intentionally Left Blank] 

  
 A - 3 

 IN WITNESS WHEREOF, the parties hereto have executed these Joint Escrow Instructions as of the
day and year first above written. 
  

			
	Very truly yours,
	
	COMPANY:
	
	Spark Therapeutics, Inc.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	HOLDER:
		
	By:	 	  

	Name:	 	  

		
	Address:	 	[                            ]
		 	[                            ]
	
	ESCROW AGENT:
		
	By:	 	  

	Name:	 	  

	Title:	 	Secretary

  
 A - 4 

 EXHIBIT B 

STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE 

 STOCK ASSIGNMENT SEPARATE FROM
CERTIFICATE 
 FOR VALUE RECEIVED, I hereby sell, assign and transfer unto
                             (            )
shares of Common Stock, $0.001 par value per share, of Spark Therapeutics, Inc. (the “Corporation”) standing in my name on the books of the Corporation represented by Certificate(s) Number
             herewith, and do hereby irrevocably constitute and appoint Wilmer Cutler Pickering Hale and Dorr LLP attorney to transfer the said stock on the books of the Corporation with
full power of substitution in the premises. 
 Dated:
                     
  

	
	PARTICIPANT:
	
	  

	[Name]
	
	  

	Name of Spouse (if any):

 Instructions to Participant: Please do not fill in any blanks other than the signature line(s). The
purpose of the Stock Assignment Separate from Certificate is to enable the Company to acquire the Shares upon exercise of its Right of First Refusal and/or Purchase Option without requiring additional signatures on the part of the Participant or
Participant’s spouse, if any. The signature(s) to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration, enlargement, or any change whatever. 

 NOTICE ON 83(B) ELECTIONS 

IF YOU WISH TO MAKE A SECTION 83(B) ELECTION, THE FILING OF SUCH ELECTION IS YOUR RESPONSIBILITY. 

THE FORM FOR MAKING THIS SECTION 83(B) ELECTION IS ATTACHED TO THIS AGREEMENT. YOU MUST FILE THIS FORM WITHIN 30 DAYS OF THE GRANT DATE. 

YOU (AND NOT THE COMPANY, ANY OF ITS AGENTS OR ANY OTHER PERSON) SHALL BE SOLELY RESPONSIBLE FOR FILING SUCH FORM WITH THE IRS, EVEN IF YOU REQUEST THE
COMPANY, ITS AGENTS OR ANY OTHER PERSON TO MAKE THIS FILING ON YOUR BEHALF AND EVEN IF THE COMPANY, ANY OF ITS AGENTS OR ANY OTHER PERSON HAS PREVIOUSLY MADE THIS FILING ON YOUR BEHALF. 

The 83(b) election should be filed by mailing a signed election form by certified mail, return receipt requested to the IRS Service Center where you file your
tax returns. See www.irs.gov. 

 SECTION 83(B) ELECTION 

The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to the property
described below and supplies the following information in accordance with Treas. Reg. § 1.83-2: 
  

	14.	The name, address, and taxpayer identification number of the undersigned are: 

 [Name] 

[Address] 
 [City, State Zip] 

Taxpayer Identification Number:
                     
  

	15.	The property with respect to which this election is being made is [                ] shares of common stock, $0.001 par value per share, of
Spark Therapeutics, Inc., a Delaware corporation (the “Company”). 

  

	16.	The date on which the property was transferred or the date on which the restrictions on such property were imposed, whichever is later, is             ,
20[    ] and the taxable year for which this election is being made is the calendar year 20[    ]. 

  

	17.	The property is subject to vesting provisions and may be forfeited under the terms of a stock restriction agreement executed between the undersigned and the Company. 

 

	18.	The fair market value of the property at the time of the transfer or the date on which the restrictions on such property were imposed, whichever is later, (determined without regard to any lapse restriction, as defined
in Treas. Reg. § 1.83-3(i)) is $[        ], equal to a fair market value of $[        ] per share. 

 

	6.	The amount paid for the property by the undersigned is $[        ], equal to a purchase price of $[        ] per share. 

 

	7.	This statement is executed on             , 20[    ]. 

In accordance with Treas. Reg. § 1.83-2(d) & (e)(7), a copy of this statement has been furnished to the Company. 

 

					
	  
	  		 	  

	Signature of Taxpayer	  		 	Signature of Spouse (if any)

  
 A - 4 

 SECTION 83(B) ELECTION 

BACKGROUND INFORMATION 

Section 83(b) of the Internal Revenue Code permits persons who receive restricted property, such as restricted stock, in connection with
the performance of services to include the value of such property in their gross income for the year the property is received. Such persons who purchase stock of the company subject to a stock restriction agreement providing for the vesting of such
stock over a period of time are entitled to make this election. Any person who makes a timely Section 83(b) election will recognize compensation income on the date of grant (the date listed in item 3 of the election form) equal to the
difference, if any, between the fair market value of the stock and the amount paid for the stock. A person who pays taxes in connection with an election and subsequently forfeits the stock, however, will not receive a refund or other tax benefit for
the taxes previously paid. 
 Any person who does not make the election will be required to include the value of the stock in gross income
in the year in which the stock vests. In particular, when the stock vests, the person will recognize compensation income in an amount equal to the difference between the fair market value of the stock on the vesting date and the amount paid for the
stock. As a result, if the value of the stock increases, a person who does not make a timely Section 83(b) election will have compensation income at the time each installment of stock vests. 

Each person should consult with his or her tax or legal advisor regarding the advisability and timing of filing the election. The original,
signed and dated Section 83(b) election must be filed within 30 days of the grant date but may be filed prior to the grant date. The election should be filed by certified mail, return receipt requested, with the Internal Revenue Service at
the service center where the electing person ordinarily files his or her annual tax return. A copy of the Section 83(b) election, as filed, must be returned to the company. A copy of the Section 83(b) election must also be included with
the person’s federal income tax return for the year of grant (each person should check with his or her tax preparer regarding this and any state, local, foreign or other filing requirements). 

Please also note that the certified mailing receipt for the Section 83(b) election should be retained. This receipt is essential if
the Internal Revenue Service does not receive the Section 83(b) election and challenges the election.

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