Re: Updated Executive Retirement and Strategic Consulting Agreement

Exhibit 10.1

May 27, 2022

VIA ELECTRONIC MAIL ([***])

Personal and Confidential

▇▇▇▇▇ ▇▇▇▇▇▇

[***]

[***]

Dear ▇▇▇▇▇:

This Updated Executive Retirement and Strategic Consulting Agreement (the “Agreement”) between you and ModernaTX, Inc. (together with its parents, subsidiaries, and affiliates including Moderna Services, Inc., the “Company”) sets forth the terms of your voluntary retirement from the Company on your extended retirement date of December 31, 2022 or such earlier date that the Company’s successor Chief Financial Officer commences employment (the “Retirement Date”) or the date your employment is terminated due to your death or Disability or by the Company for Cause prior to the Retirement Date (the “Last Day Worked”)¹ and, in the event of your retirement on the Retirement Date, offers you the opportunity to provide consulting services for the Company through March 2, 2026. The terms of this Agreement supercede the terms of the Executive Retirement and Strategic Consulting Agreement dated April 8, 2022, which you signed on April 10, 2022.

For purposes of this Agreement, the period between the date of this Agreement and the Retirement Date or the Last Day Worked, whichever is earlier, shall be referred to as the “Transition Period.” During the Transition Period, you will continue to perform the functions of the Chief Financial Officer role, to receive your current base salary and benefits (subject to eligibility criteria), and to vest in any outstanding unvested equity.

Regardless of whether you timely enter into this Agreement, the following terms shall apply:

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With those understandings, you and the Company agree as follows:

1. Conditions. Subject to the terms of this Agreement, you will be entitled to continue to be employed at the Company through the Transition Period and receive the Transition Benefits (defined below) provided you satisfy each of the following (collectively, the “Conditions”): (i) you timely enter into this Agreement, do not timely revoke it, and at all times comply with its terms; (ii) your employment is not terminated by the Company for Cause, due to death or Disability, or as a result of your voluntary resignation before the Retirement Date; (iii) you work cooperatively and in good faith with the Company during the Transition Period; and (iv) at all times, you comply with the terms of the Restrictive Covenants Agreement (as modified by this Agreement) and all other agreements between you and the Company.

2. Transition Benefits. If you satisfy each of the Conditions, the Company will provide you with the following post-employment benefits (collectively, the “Transition Benefits”):

(a) Strategic Consulting.

1. You agree to provide, between the Retirement Date and March 2, 2026 (the “Strategic Consulting Period”), strategic consulting services concerning financial matters (the “Services”) as requested by the Company’s Chief Executive Officer (“CEO”), on a timetable mutually agreed between you and the CEO via telephone and/or written consultations. You shall retain the sole control and discretion to determine the methods by which you perform the Services.

2. As full consideration for the performance of the Services, you shall (a) continue to vest through July 8, 2024 in (i) the unvested portions of the New Hire Equity Award, as that term is defined in the Offer of Employment dated June 2, 2020 between you and ModernaTX, Inc. (the “Offer Letter”) and (ii) the unvested portions of the 2021 Annual Equity Grant issued on February 9, 2021 (which shall include the portions of the 2021 Annual Equity Grant issued as an option award and as an RSU award), both subject to the terms of the Equity Documents; and (b) continue to vest through March 2, 2026 in the unvested portions of the 2022 Annual Equity Grant issued to you on March 1, 2022. The vesting for the portion of your 2021 Annual Equity Grant issued as a performance-based restricted stock unit award, or PSU, will end on the last date of the Transition Period.

3. You acknowledge and agree that you are not eligible for any cash compensation related to performing the Services and that the opportunity to continue vesting in the New Hire Equity Award, the 2021 Annual Equity Grant, and the 2022 Annual Equity Grant is adequate consideration to support this Agreement. You may exercise any vested portions of either the New Hire Equity Award, the 2021 Annual Equity Grant, or the 2022 Annual Equity Grant under the terms of the Equity Documents and subject to the ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Policy of Moderna, Inc., a copy of which you acknowledge you have received.

4. You further acknowledge that the Company’s Code of Business Ethics and Conduct (available at ▇▇▇.▇▇▇▇▇▇▇▇▇.▇▇▇) will be applicable throughout the Strategic Consulting Period.

(b) 2022 Bonus Award. Notwithstanding the existence of any policies or practices which require you to be actively employed at the time bonus awards are distributed to be eligible for an annual bonus award, the Company agrees that you shall receive your 2022 annual bonus award at target, prorated to your dates of employment at the Company in 2022 (January 1, 2022 through the Retirement Date).

(c) Post-Retirement Equity Exercise. Any options to purchase the Company’s common stock granted to you under the Moderna, Inc. 2018 Stock Option and Incentive Plan (the “2018 Plan”), to the extent vested, exercisable, and outstanding at the end of the Strategic Consulting Period will remain exercisable through twelve (12) months following the end of the Strategic Consulting Period (but in no event will such options remain exercisable beyond the original expiration date applicable to such option), provided, however, that if you voluntarily resign for any reason prior to the Retirement Date, the exercise period applicable to any such stock options will be governed in accordance with the Equity Documents and will not be extended as set forth in this section.

3. General Release of Claims. In consideration for, among other terms, the opportunity to remain employed through the Transition Period and the Transition Benefits, to which you acknowledge that you would otherwise not be entitled, you voluntarily release and forever discharge the Company, its affiliated and related entities (including, without limitation, direct and indirect parent companies (including, without limitation, Moderna, Inc.), and direct and indirect subsidiaries and direct and indirect affiliates), its and their respective predecessors, successors and assigns, its and their respective employee benefit plans and fiduciaries of such plans, and the past, present and future officers, directors, stockholders, members, managers, employees, attorneys, accountants, agents and representatives of each of the foregoing in their official and personal capacities (collectively referred to as the “Releasees”) generally from all claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when you sign this Agreement, you have, ever had, now claim to have or ever claimed to have had against any or all of the Releasees, to the maximum extent permitted by applicable law. This release includes, without limitation, all Claims: relating to your employment by and termination of employment with the Company; of wrongful discharge; of breach of contract; of discrimination or retaliation under federal, state, or local law (including, without limitation, Claims of discrimination or retaliation under Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1866, the Rehabilitation Act of 1973, the Civil Rights Act of 1991, the Americans with Disabilities Act of 1991 (ADA), the Family and Medical Leave Act (FMLA), the Age Discrimination In Employment Act (ADEA), the Older Workers Benefit Protection Act (OWBPA), the Employee Retirement Income Security Act (ERISA), the Worker Adjustment and Retraining Notification Act (WARN), the California Labor Code, the California Fair Employment and Housing Act (FEHA), the Massachusetts Fair Employment Practices Act, Massachusetts General Laws ch. 151B, and any other federal, state, or local statute or regulation regarding discrimination in employment or the termination of employment; any claims or

allegations brought under the Equal Pay Act, the National Labor Relations Act (NLRA), or for non-payment of wages, bonuses, commissions, severance pay (under the ESP or otherwise), or other compensation, including but not limited to under the California Labor Code, the Massachusetts Civil Rights Act, the Massachusetts Equal Rights Act, the Massachusetts Parental Leave Act, the Massachusetts Labor and Industries Act, the Massachusetts right of privacy law, the Massachusetts Wage Act, the Massachusetts Earned Sick Time law, the Massachusetts Equal Pay Act, and the Massachusetts Minimum Fair Wage Law; and for libel, slander, breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, quantum meruit, assault, battery, intentional infliction of emotional distress, tort or any other theory under the common law of any state); for stock, stock options, unit options, units, incentive units, restricted stock units or any other equity interests or rights to acquire equity interests in the Company or any other Releasee; and for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees.

Notwithstanding the foregoing, this general release does not release any Claim: (a) that arises after the Revocation Period, including any rights that may arise under the Equity Documents; (b) for unemployment or workers’ compensation benefits; (c) for vested rights under ERISA-covered employee benefit plans as applicable on the date you sign this Agreement; (d) for coverage under any officer, director, or executive indemnification agreement (the “Indemnification Agreement”) and under applicable directors and officers liability insurance for acts or omissions while serving as an officer of the Company; (e) under this Agreement or (f) that by law cannot be waived. You agree not to accept damages of any nature, other equitable or legal remedies for your benefit, or attorney’s fees or costs from any of the Releasees concerning any Claim released by this Agreement. As a material inducement to the Company to enter into the Agreement, you represent that you have not assigned any Claim to any third party and that you have not filed any complaints, charges, applications, lawsuits, or arbitrations against the Company or any of the Releasees. To the extent that you have knowledge concerning a potential violation of any federal, state, or local law, you represent that you have fully disclosed such information to the Company as of the Effective Date of this Agreement.

You covenant not to ▇▇▇ the Company and/or the Releasees for any of the Claims released above, agree not to participate in any class, collective, representative, or group action that may include any of the Claims released above, and will affirmatively opt-out of any such class, collective, representative, or group action. You agree not to participate in, seek to recover in, or assist in any litigation or investigation by other persons or entities against the Company and/or the Releasees, except as required by law.

Waiver of Unknown Claims. You and the Company (the “Parties”) acknowledge the language of Section 1542 of the California Civil Code, which provides:

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

The Parties expressly waive the protection of Section 1542 and understand and agree that claims or facts in addition to or different from those which are now known or believed by them to exist may be discovered. The Parties intend to settle fully and release all claims they now have against one another and by you against the Company and the other Releasees, whether known or unknown, suspected, or unsuspected, except as to claims that cannot lawfully be released.

4. Cooperation. You hereby agree that to the maximum extent permitted by applicable law, you have not and shall not in any way voluntarily assist, aid, or participate in the pursuit of any claims or actions brought by another against the Company or Releasees. If your assistance is requested or required in the pursuit of any claims brought against the Company or Releasees, you agree to provide written notice to the Company within two (2) business days of such request, unless requested by a governmental authority to the contrary. Without additional

compensation, you agree to cooperate with the Company and Releasees (including its and their counsel) in investigating, defending, prosecuting, litigating, filing, initiating, or asserting any actual or potential claims or other matters involving the Company and Releasees. You agree to make yourself available during and outside of regular business hours for such cooperation; provided that the Company shall not utilize this Section to require you to make yourself available to an extent that would unreasonably interfere with any subsequent professional responsibilities that you may have. You agree to appear without the necessity of a subpoena to testify truthfully in any legal proceedings in which the Company calls you as a witness. In connection with fulfilling your obligations under this section, your pre-approved, out-of-pocket reasonable expenses will be reimbursed by the Company, which shall not include any attorneys’ fees, except as provided by the Company’s by-laws and/or any applicable insurance policies.

5. Return of Company Property. You agree not to dispose of any property of the Company including, without limitation, information, or documents (including, without limitation, computerized data and any copies made of any computerized data or software) (all the foregoing are collectively referred to as the “Documents”) without the prior written authorization of the Company. On or before the end of the Transition Period, you shall return to the Company all property of the Company, including, without limitation, computer equipment, electronic devices, iPads, iPhones, mobile devices, software, access cards, credit cards, files and any Documents containing information concerning the Company, and its actual or prospective business or business relationships. After returning all Documents and property of the Company, you shall delete and purge any duplicates of files or documents that may contain Company information from any non-Company computer or other devices that remain in your property. If you discover that you continue to retain any such property, you shall return it to the Company or destroy it immediately.

6. Non-disparagement.

(a) Subject to Section 7 below, you agree not to make any false, disparaging, critical, or detrimental statements concerning the Company or any of the Releasees; its or their products or services provided or to be provided; its or their current or former officers, directors, stockholders, members, employees, managers, or agents; and its or their business affairs or financial condition. You further agree not to take any actions or conduct yourself in any way that would reasonably be expected to affect adversely the reputation or goodwill of the Company or its affiliates; or its or their products or services provided or to be provided; or its or their current or former officers, directors, stockholders, members, employees, managers, or agents. This non-disparagement obligation shall not in any way affect your obligation to testify truthfully in any legal proceeding.

(b) The Company agrees that each of the members of the Company’s current Executive Committee will not make any false, disparaging, critical, or detrimental statements concerning your employment with the Company or take any actions that would reasonably be expected to affect adversely your professional reputation. This non-disparagement obligation shall not in any way affect any Executive Committee member’s obligation to testify truthfully in any legal proceeding.

(c) You agree to limit any communications regarding your transition to statements that are consistent with the Company’s prior and contemporaneous announcement on or before the end of the Transition Period.

7. Protected Disclosures. Nothing contained in this Agreement (including, without limitation, the Restrictive Covenants Agreement) limits your ability to file a charge or complaint with any federal, state, or local governmental agency or commission (a “Government Agency”). In addition, nothing contained in this Agreement limits your ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, nor does anything contained in this Agreement apply to truthful testimony in litigation. If you file any charge or complaint with any Government Agency and if the Government Agency pursues any claim on your behalf, or if any other third party pursues any claim on your

behalf, you waive any right to monetary or other individualized relief (either individually or as part of any collective or class action); provided however that nothing in this Agreement limits any right you may have to receive a whistleblower award or bounty for information provided to the Securities and Exchange Commission. Nothing in this Agreement (including, without limitation, the Restrictive Covenants Agreement) is intended to conflict with 18 U.S.C. § 1833(b), which provides that: “An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.”

8. Tax Treatment. The Company shall undertake to make deductions, withholdings, and tax reports with respect to payments and benefits under this Agreement to the extent that it reasonably and in good faith determines that it is required to make such deductions, withholdings, and tax reports. Nothing in this Agreement shall be construed to require the Company to make any payments to compensate you for any adverse tax effects incurred because of the Transition Benefits.

9. Section 409A.

(a) The Parties intend that this Agreement will be administered in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that such payments comply with, or are exempt from, Section 409A of the Code. The Parties agree that this Agreement may be amended, as reasonably requested by either party, and as necessary to fully comply with, or be exempt from, Section 409A of the Code and all related rules and regulations.

(b) Anything in this Agreement to the contrary notwithstanding, if at the time of your separation from service within the meaning of Section 409A of the Code you are a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that you become entitled to under this Agreement on account of your separation from service would be considered deferred compensation otherwise subject to the twenty percent (20%) additional tax imposed under Section 409A(a) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after your separation from service, or (B) your death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be payable under their original schedule.

(c) To the extent that any payment or benefit described in this Agreement constitutes “nonqualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon your separation of employment, then such payments or benefits shall be payable only upon your “separation from service.” The determination of whether and when a separation from service has occurred shall be made following the presumptions outlined in Treasury Regulation Section 1.409A-1(h).

(d) The Company makes no representation or warranty and shall have no liability to you or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.

10. Effect of Breach. If you fail to comply with any of your obligations under this Agreement (including the obligations under the Restrictive Covenants Agreement) as determined by the Company in its sole and reasonable discretion, in addition to any other legal or equitable remedies it may have for such breach, including for damages and equitable relief, the Company shall have the right to (i) if you are still employed, end your employment for Cause, (ii) terminate its payments and benefits to you under the Agreement including early termination of the Strategic Consulting Period; and/or (iii) seek recovery of any payments made to you or for your benefit under this Agreement. Any such consequences of a breach by you will not affect the release or your continuing obligations under this Agreement or under the Restrictive Covenants Agreement.

11. No Liability. This Agreement shall not be construed as an admission of any liability by the Company or you of any act of wrongdoing. The Parties specifically disclaim that the Company or any of the Releasees has engaged in any wrongdoing or has taken any action that would be the basis for any finding of liability.

12. Enforceability. Except for the General Release of Claims above, if any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement, or of the Restrictive Covenants Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. If the General Release of Claims is found to be invalid or unenforceable in whole or in part, the Company will have the option in its sole discretion either to sever the invalid or unenforceable portion and enforce the rest of the Agreement or to cancel the entire Agreement. In the event the Company exercises the option to cancel the entire Agreement, the Agreement shall be null and void and none of the benefits outlined in Section 3 shall be owing, paid, or provided, and if such amounts or benefits have been paid or provided, you shall repay to the Company the total gross amount or value of any such benefits already paid or provided, and the total gross amount of the amounts otherwise being waived in Section 3.

13. Waiver; Amendment. No waiver of any provision of this Agreement shall be effective unless made in writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.

14. Forum; Relief.

(a) The Parties agree that Massachusetts federal court shall have the exclusive jurisdiction to consider any matters related to this Agreement, including without limitation any claim for violation of this Agreement. With respect to any such court action, you (i) submit to the personal jurisdiction of such court, (ii) consent to service of process, and (iii) waive any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or venue.

(b) This Agreement shall be construed under the laws of the Commonwealth of Massachusetts, without giving effect to any conflict of law provisions that would cause the application of the laws of other jurisdictions. The Parties agree that this Agreement shall not be construed more strictly against one party than another because it may have been prepared in whole or in part by one of the Parties. The Agreement’s headings are for reference purposes only and shall not affect its meaning or interpretation. References to agreements and other documents shall be deemed to include all subsequent amendments and other modifications. References to statutes shall include all associated regulations or amendments.

(c) You agree that it would be difficult to measure the harm caused to the Company that might result from any breach by you of your promises outlined in this Agreement and that money damages would be an inadequate remedy for any such breach. Accordingly, you agree that if you breach, or propose to breach, any of your obligations under this Agreement, the Company shall be entitled, in addition to all other remedies, to an injunction or other appropriate equitable relief to restrain any such breach, without showing or proving any actual damage to the Company and without the necessity of posting a bond.

15. Entire Agreement. This Agreement constitutes the entire agreement between you and the Company and supersedes any previous agreements or understandings between you and the Company regarding your employment with and separation from the Company, including the June 2, 2020 Offer of Employment, provided however that the ESP, the Indemnification Agreement, the Restrictive Covenants Agreement (as modified by this Agreement), and the Equity Documents shall remain in full force and effect.

16. Time for Consideration; Effective Date. You understand and acknowledge that you have been given the opportunity to consider this Agreement for at least 21 calendar days from your receipt of this Agreement before signing it (the “Consideration Period”). Any changes to this Agreement, material or otherwise, will not restart the running of the Consideration Period. In signing this Agreement, you acknowledge that you have knowingly and voluntarily entered into this Agreement without any undue influence on the part of the Company or any of the Releasees. You acknowledge that the General Release of Claims is knowing and voluntary, including without implication of limitation all claims under the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq. If you sign this Agreement before the end of the Consideration Period, you acknowledge that such decision was entirely voluntary and that you had the opportunity to consider this Agreement for the entire Consideration Period. You have seven (7) business days following your execution of this Agreement to revoke your assent by written notice to me (such seven (7) business day period, the “Revocation Period”). For a revocation to be effective, it must be received by me on or before the expiration of the Revocation Period. This Agreement shall become effective only as of the first (1^st) business day after the expiration of the Revocation Period (the “Effective Date”). If you do not enter into this Agreement, your retirement will still be effective, but you will not be entitled to all the Transition Benefits. You are advised to consult with an attorney before executing this Agreement.

17. Counterparts. This Agreement may be executed in two counterparts, each of which shall be considered an original and all of which shall constitute one agreement. The signatures may be delivered by DocuSign or by scanned image (e.g., .pdf or ..tiff file extension name) as an attachment to an electronic mail (e-mail), and such electronic signature shall be treated in all respects as having the same effect as an inked signature.

To accept this Agreement, you must return a signed, unmodified counterparty of this Agreement to me on or before the expiration of the Consideration Period. By signing below, you acknowledge that you have been advised to discuss all aspects of this Agreement with your attorney, that you have carefully read and fully understand all the provisions of this Agreement, and that you are voluntarily entering into this Agreement.

Thank you for your contributions to the Company and its mission of delivering on the promise of mRNA science to create a new generation of transformative medicines for patients.

The foregoing is agreed to and accepted by:

May 27, 2022

Date