JUNO THERAPEUTICS, INC. NON-EMPLOYEE DIRECTOR COMPENSATION POLICY Adopted and approved December 7, 2015

Exhibit 10.32(B)

JUNO THERAPEUTICS, INC.

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

Adopted and approved December 7, 2015

Juno Therapeutics, Inc. (the “Company”) believes that the granting of equity and cash compensation to its members of the Board of Directors (the “Board,” and members of the Board, the “Directors”) represents an effective tool to attract, retain and reward Directors who are not employees of the Company (the “Outside Directors”). This Non-Employee Director Compensation Policy (the “Policy”) is intended (i) to formalize the Company’s policy regarding cash compensation and grants of equity to its Outside Directors and (ii) to obtain shareholder approval for the Policy. Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given such term in the Company’s 2014 Equity Incentive Plan, as amended (the “Plan”). Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity and cash payments such Outside Director receives under this Policy. An Outside Director will be provided the opportunity to reject any compensation or award provided for under this Policy in accordance with such procedures as the Company may determine.

This Policy will be effective for Board compensation beginning January 1, 2016.

Annual Cash Retainer

Each Outside Director will be paid an annual cash retainer of $40,000. There are no per-meeting attendance fees for attending Board meetings.

Chairman Annual Cash Retainer

Each Outside Director who serves as chairman of the Board or chairman or member of a committee of the Board will be paid additional annual fees as follows:

Each annual cash retainer and additional annual fee (the “Retainer Cash Payments”) will be paid quarterly in arrears on a prorated basis (the date of any payment of a Retainer Cash Payment, a “Retainer Payment Date”).

The Board in its discretion may change and otherwise revise the terms of the cash compensation granted under this Policy, including, without limitation, the amount of cash compensation to be paid, on or after the date the Board determines to make any such change or revision.

Subject to Section 2, in no event will cash compensation payable pursuant to this Policy be paid after the later of (i) the fifteenth (15^th) day of the third (3^rd) month following the end of the Fiscal Year in which the compensation is earned, or (ii) March 15 following the calendar year in which the compensation is earned, in compliance with the “short-term deferral” exception to Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as amended. The Policy is intended to comply with the requirements of Section 409A so that none of the compensation to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply.

Retainer RSUs

Each Outside Director may elect to convert all or a portion of his or her Retainer Cash Payments into a number of Restricted Stock Units (“Retainer RSUs”) with a Fair Market Value on the Retainer Payment Date equal to the amount of the applicable Retainer Cash Payment, provided that the number of Shares covered by such Retainer RSUs shall be rounded to the nearest whole Share using standard rounding principles (i.e., 0.5 or higher, round up, and below 0.5, round down) (such election, a “Retainer RSU Election”). Retainer RSUs shall be subject to certain terms and conditions as provided for in Section 3, below.

Retainer RSU Election Mechanics

Each Retainer RSU Election must be submitted to Stock Administration in the form and manner specified by the Board or Compensation Committee. An individual who fails to make a timely Retainer RSU Election shall not receive Retainer RSUs and instead shall receive the applicable Retainer Cash Payment. Retainer RSU Elections must comply with the following timing requirements:

2

3

Outside Directors will be entitled to receive all types of Awards (except Incentive Stock Options) under the Plan (or the applicable equity plan in place at the time of grant), including discretionary Awards not covered under this Policy. All grants of Awards to Outside Directors pursuant to Section 3 of this Policy will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions:

4

Each Outside Director’s reasonable, customary and documented travel expenses to Board meetings will be reimbursed by the Company.

No Outside Director may be issued, in any Fiscal Year, (i) cash payments (including Retainer Cash Payments and Retainer RSUs) with a value greater than $200,000, or (ii) Awards, other than Retainer RSUs, that cover more than 50,000 Shares. For purposes of this Section 5, the value of Retainer RSUs will be equal to the value of the applicable Retainer Cash Payments that the Retainer RSUs were elected to replace. Compensation awarded to or received by an Outside Director for services performed for the Company other than as a member of the Board (or committees of the Board), e.g., as an Employee or a Consultant, will not be subject to, and will not count toward, the limitations under this Section 5.

All provisions of the Plan not inconsistent with this Policy will apply to Awards granted to Outside Directors.

This Plan shall be submitted to stockholders for ratification at the Company’s 2016 Annual Meeting of Stockholders.

In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under this Policy, will adjust the number of Shares issuable pursuant to Awards granted under this Policy.

5

The Board may amend, alter, suspend or terminate this Policy at any time and for any reason. No amendment, alteration, suspension or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation that has already been paid or awarded, unless mutually agreed otherwise between the Outside Director and the Company. Termination of this Policy will not affect the Board’s ability to exercise the powers granted to it under the Plan with respect to Awards granted under the Plan pursuant to this Policy prior to the date of such termination.

6

JUNO THERAPEUTICS, INC.

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

Restricted Stock Unit Election Form

For Nonemployee Directors

Please complete and return this Restricted Stock Unit Election Form (the “Election Form”), as described below, on or before [            ] (the “Submission Deadline”), to Stock Administration, Juno Therapeutics, Inc. (the “Company”), 307 Westlake Avenue North, Suite 300, Seattle, WA 98109, or by e-mail to [omitted].

Neither the provision of this Election Form nor your completion of this Election Form represents a commitment by the Company to grant an Award to you. The grant of an Award remains subject to the discretion of the Board (or its authorized designee(s)). Terms not otherwise defined herein shall have the meaning set forth in Exhibit A to this Election Form.

I understand that my Election Form will become irrevocable effective as of the Submission Deadline.

(Please print)

Participant Name:                                          (the “Participant”)

I elect to receive any automatic cash retainers that may be payable to me quarterly in arrears on a prorated basis (the “Retainer Payments”) in accordance with the Company’s Non-Employee Director Compensation Policy (the “Policy”) as set forth below:

NOTE: If you fail to make an election as to the form of your Retainer Payments, 100% of the Retainer Payments will be payable in cash.

Any RSUs that are granted to you in accordance with your timely election set forth in this Section II will vest in accordance with the Policy (each vesting date, an “Original Payment Date”). The number of shares subject to the RSUs you will receive with respect to each Retainer Payment will be determined in accordance with the Policy. The RSUs will otherwise be subject to the terms and conditions of the Policy and the Plan.

Only complete this Section III if you wish to defer settlement of the RSUs you have elected to receive under Section II on a tax-deferred basis.

            % of my RSUs that would have otherwise been settled on an Original Payment Date (the “Deferred Portion”) (please select a percentage no greater than 100%). For avoidance of doubt, with respect to a RSU with multiple Original Payment Dates and an election by me to defer less than 100% my RSUs, the deferral percentage elected with be taken pro-rata from each Original Payment Date.

(All RSUs that are deferred pursuant to this Section III shall be referred to as “Deferred Awards” in this Election Form).

NOTE: If you do not elect to defer the settlement of your RSUs beyond the applicable Original Payment Date(s), they will be settled when they vest (if at all) on the applicable Original Payment Date(s).

Subject to the mandatory terms set forth in Section V below:

2

Notwithstanding the foregoing:

1. Upon a Change of Control Event, your Separation Date, or your death, all Deferred Awards that have not yet been distributed to you will be automatically settled in full and immediately distributed in a single lump sum distribution.

2. If a distribution hereunder is triggered because of your Separation Date and you are a “specified employee” within the meaning of Section 409A at the time of your Separation Date, then the distribution that you would otherwise be entitled to receive upon the Separation Date will not be settled until the date that is 6 months and 1 day following the Separation Date, unless you die following your Separation Date, in which case, your distribution will commence as soon as practicable following your death.

3

By signing this Election Form, I authorize the implementation of the above elections. I understand that any deferral election in Section III is irrevocable effective as of the Submission Deadline and may not be changed in the future, except in accordance with the requirements of Section 409A and the procedures specified by the Administrator.

IMPORTANT DEADLINE: Please remember that if you wish to make any election set forth on this Election Form, then the properly completed Election Form must be signed by you and returned ON OR BEFORE THE SUBMISSION DEADLINE to Stock Administration, Juno Therapeutics, Inc., 307 Westlake Avenue North, Suite 300, Seattle, WA 98109, or by e-mail to [omitted].

4

EXHIBIT A

DEFINITIONS

“Administrator” means the Compensation Committee of the Company’s Board of Directors (or any other authorized designee of the Board as set forth in the Plan.

“Affiliate” means each corporation, trade or business that is, together with the Company, a member of a controlled group of corporations or under common control (as determined under section 414(b) or (c) of the Code), but only for the period during which such other entity is so affiliated with the Company. Notwithstanding the foregoing, in applying sections 1563(a)(1), (2) and (3) of the Code for purposes of determining a controlled group of corporations under section 414(b) of the Code and in applying Treasury regulation section 1.414(c)-2 for purposes of determining trades or businesses that are under common control for purposes of section 414(c) of the Code, the phrase “at least 50 percent” will be used instead of “at least 80 percent” at each place it appears in such sections.

“Award” means a restricted stock unit granted under the Plan.

“Award Agreement” means that written agreement between the Participant and the Company evidencing the grant of an Award.

“Board” means the Board of Directors of the Company, as from time to time constituted.

“Change in Control Event” means a Change in Control as defined in the Plan with respect to an Award, provided, however, such event qualifies as a change in the ownership or effective control of the Company, or a change in the ownership of a substantial portion of the assets of the Company, as determined in accordance with section 409A(a)(2)(A)(v) of the Code and Treasury regulation section 1.409A-3(i)(5).

“Code” means the U.S. Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code will include such section, any valid regulation or other Treasury Department or Internal Revenue Service guidance promulgated thereunder, and any comparable provision of any future legislation amending, supplementing or superseding such section.

“Grant Date” means the date of grant of the Award, as applicable.

“Plan” means the Company’s 2014 Equity Incentive Plan, as amended from time to time.

“Section 409A” means Section 409A of the Code.

“Separation Date” means the date of the Participant’s death, retirement or other termination of service with the Company and all of its Affiliates (as determined in accordance with section 409A(2)(A)(i) of the Code and Treasury regulation section 1.409A-1(h)).

5