Document:

Exclusive License Agreement dated July 1, 1988

 EXHIBIT 10.2 
 EXCLUSIVE LICENSE AGREEMENT 
 Table of Contents 
  

					
	 Article
	  	 	  	Page
	I.	  	DEFINITIONS	  	1
			
	II.	  	GRANT OF RIGHTS	  	4
			
	III.	  	ROYALTIES AND PAYMENTS	  	6
			
	IV.	  	REPORTING, PAYMENT AND MARKING	  	8
			
	V.	  	ADDITIONAL PATENT APPLICATIONS AND RIGHT TO FILE SUIT	  	10
			
	VI.	  	DURATION AND TERMINATION	  	12
			
	VII.	  	ADDRESSES	  	14
			
	VIII.	  	CONFIDENTIAL INFORMATION	  	15
			
	IX.	  	ENTIRE AGREEMENT	  	16
			
	X.	  	ASSIGNMENT	  	16
			
	XI.	  	REPRESENTATIONS AND WARRANTIES	  	17
			
	XII.	  	INDEMNIFICATION	  	18
			
	XIII.	  	PUBLICITY AND NEWS RELEASES	  	18
			
	XIV.	  	MISCELLANEOUS	  	19

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 EXCLUSIVE LICENSE AGREEMENT 
 This Exclusive License Agreement (“Agreement”) is entered into by and between THE BOARD OF REGENTS of THE UNIVERSITY OF TEXAS SYSTEM
(hereinafter “BOARD”), a governing board established under the laws of the State of Texas, THE UNIVERSITY OF TEXAS SYSTEM CANCER CENTER (hereinafter “UTSCC”), a component institution of The University of Texas System (hereinafter
“System”) and ARGUS PHARMACEUTICALS, INC. (hereinafter “LICENSEE”), a Delaware corporation, whose address is 2170 Buckthorne Place, Suite 350-A, The Woodlands, Texas 77380 and shall be effective as of the effective date as
provided for hereinafter. 
 WITNESSETH: 
 WHEREAS, BOARD is the owner of the BOARD Patent Rights and BOARD Technical Information, as hereinafter defined, conceived, discovered, or reduced to practice by UTSCC; and 
 WHEREAS, LICENSEE is desirous of obtaining a world-wide non-assignable (except as expressly provided herein), royalty-bearing exclusive license, with the
right to grant sublicenses, under the BOARD Patent Rights and BOARD Technical Information; and 
 WHEREAS, LICENSEE desires the right to use
the names Board of Regents, The University of Texas System, M. D. Anderson Hospital and Tumor Institute, and The University of Texas System Cancer Center for the purposes set forth herein; and 
 WHEREAS, BOARD desires to grant LICENSEE such a world-wide exclusive license, and the right to use such names, under the following terms and conditions;

 NOW, THEREFORE, in consideration of the foregoing, and the covenants and promises contained herein, the sufficiency of which are hereby
acknowledged by the parties, BOARD, UTSCC and LICENSEE hereby agree as follows: 
 I. 
 DEFINITIONS 
 A. The term
“Researchers/Inventors” when used herein shall mean Roman Perez-Soler, M.D., Waldemar Priebe, Ph.D., Reeta T. Mehta, Ph.D., Kapil Mehta, Ph.D. and/or Gabriel Lopez-Berestein, M.D. 
  

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= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 B. The term “Licensed Subject Matter” shall mean liposomal encapsulated Nystatin and other
liposomal encapsulated polyene antibiotics (except amphotericin B), liposomal encapsulated Anthracyclines, and liposomal encapsulated retinoids, together with any invention, discovery, know-how, process, procedure, method, protocol, formula,
technique, software, design, drawing, data, devices, specifications, sketches or other technical information related thereto conceived, discovered, or reduced to practice by the Researchers/Inventors, as of the date hereof, irrespective of whether
other persons jointly participate in such conception, discovery or reduction to practice, and Related Technology (as defined in Paragraph I.C. herein) to be conceived, discovered, or reduced to practice as the result of funding provided under
LICENSEE’s sponsored research program, as provided in the Research and Development Contract (“R & D Contract”) between LICENSEE and UTSCC, attached hereto as Exhibit I and incorporated herein, and all processes, compositions,
uses and Products resulting therefrom. The term “Licensed Subject Matter” shall include the patents, patent applications and areas of research listed on Schedule I which is attached to this Agreement and incorporated herein by reference
for all purposes. 
 C. The term “Related Technology” when used herein shall mean any invention, discovery, know-how, trade secret,
or technical information conceived, discovered, or reduced to practice as the result of funding under and during the term of the R & D Contract. 
 D. The term “BOARD Patent Rights”, when used herein, shall mean those United States and foreign patents and patent applications or prospective patent applications, which relate to the Licensed Subject Matter
(as defined in Paragraph I. B. herein), any technology that is an infringement thereof (except as provided in Paragraph 5.5 of the R & D Contract), and Improvements (as defined in Paragraph I. L. herein) that are the subject of any patent or
patent application, in which BOARD now has or in the future acquires any interest during the term of this Agreement or during the term and arising as a result of the R & D Contract. 
 E. The term “BOARD Technical Information”, when used herein, shall mean all Licensed Subject Matter and all Improvements that are not subsumed
within the BOARD Patent Rights. 
 F. The term “Licensed Patented Product or Process”, when used herein, shall mean any product,
apparatus, or process made, used, or marketed or sold in any country where such product, apparatus or process is covered by the claims of an issued patent or a pending patent application included within the BOARD Patent Rights, together with any
product made by the use of any process in any country in which such process or apparatus is covered by the claims of an issued patent or a pending patent application included within the BOARD Patent Rights. 
  

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 G. The term “Licensed Non-Patented Product or Process”, when used herein, shall mean any
product, apparatus or process utilizing or relating to the Licensed Subject Matter which is manufactured, used, marketed or sold with the use of any BOARD Technical Information which does not utilize any BOARD Patent Rights, together with any
product utilizing the Licensed Subject Matter which is manufactured by a process or apparatus which uses any BOARD Technical Information and which does not utilize any BOARD Patent Rights. 
 H. The term “Process” when used herein shall mean and include the manufacturing and utilization of the Licensed Patented Products or Licensed
Non-Patented Products for diagnostic or therapeutic purposes. 
 I. The term “Product” when used herein shall mean any Licensed
Patented Product or Process, and/or any Licensed Non-Patented Product or Process, as said terms are defined herein. 
 J. The term “Net
Sales”, when used herein, shall mean the amount received or collected by LICENSEE from commercial sales or other use or disposition for value (including any marketing fees paid to LICENSEE in connection with sales of Products, but not including
proceeds received from the sale of marketing rights as described in Paragraph III.A.3 hereof), in bona fide arms-length transactions, less (i) cash, trade and/or quantity discounts, (ii) amounts repaid or credited by reason of rejections,
defects or returns or because of retroactive price reductions, (iii) freight, transportation and freight insurance (iv) sales and use taxes and (v) other charges which, under generally accepted accounting principles, are deemed to be
incidental to the sale. 
 K. The term “Subsidiary” shall mean a corporation, partnership, association, trust or other legal entity
which owns, controls, is owned or controlled by, or is under common ownership or control of, a party to this Agreement. For purposes of this definition, “control” shall mean the ownership of such number of outstanding shares or other
interests aggregating more than 50% of the ordinary voting power for the election of directors or the exercise of control of such entity. 
 L. The term “Improvement” where used herein means any change or modification to the Licensed Subject Matter, and any compositions, Products and uses resulting therefrom (together with all other patents and patent applications,
including any division, continuation, continuation-in-part or reissue thereof, or substitute therefor and the patents that may issue from such changes or modifications), conceived, discovered, or reduced to practice, in whole or in part by the
Researchers/Inventors, irrespective of whether other persons jointly participate in such conception, discovery or reduction to practice, to the extent that such change or modification relates to the Licensed Subject Matter. 
  

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= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 II. 
 GRANT OF RIGHTS 
 A. BOARD hereby grants to LICENSEE and its Subsidiaries, for the term of
this Agreement (subject to the provisions of Paragraph VI.C. herein), an exclusive, world-wide license, including the right to grant sublicenses, under (1) the BOARD Patent Rights, (2) the BOARD Technical Information, excluding from
(1) and (2) those Improvements first conceived after the termination of the R & D Contract, and (3) Related Technology, to manufacture, use, market and sell any Product throughout the United States of America, its territories and
possessions and in all foreign countries. 
 B. UTSCC and BOARD hereby grant to LICENSEE a right of first refusal to an exclusive,
world-wide, royalty bearing license for Improvements first conceived after the termination of the R & D Contract but before the termination of this Agreement, provided that the rights to such Improvements are not already owned by a third party.
UTSCC and BOARD agree that they shall (1) refrain from disclosing such Improvements to third parties (except as provided in Article V herein) or entering into negotiations or agreements with third parties with regard to the disposition of an
Improvement except as otherwise expressly permitted by this Agreement; and (2) give LICENSEE prompt written notice of any such Improvement, which notice shall specify all relevant technical and scientific information pertaining to the
Improvement in sufficient detail to permit LICENSEE to reasonably assess its interest in the Improvement and UTSCC’s projected research funding requirements, if any (the “Improvement Notice”). If LICENSEE delivers notice to UTSCC of
its interest in an Improvement (“Notice of Interest”) within 15 days after delivery of the Improvement Notice, LICENSEE and UTSCC shall undertake negotiations for the acquisition by LICENSEE of rights to such Improvement. If LICENSEE fails
to deliver a timely Notice of Interest, or if UTSCC, Board and LICENSEE fail to enter into a written agreement within 60 days after delivery of the Notice of Interest or such additional time as may be agreed to by the parties, Board and UTSCC shall
be free to consult with and license such Improvement to any other firm and LICENSEE shall have no further rights to the Improvement. BOARD and UTSCC shall not enter into any agreement with any other party unless such agreement is, overall, more
favorable to UTSCC than the last offered by LICENSEE. 
 C. BOARD and UTSCC hereby grant to LICENSEE the right to use the names “Board
of Regents, The University of Texas System”, “M. D. Anderson Hospital and Tumor Institute” and “The University of Texas System Cancer Center” (“Names”) to the extent necessary to enforce and protect LICENSEE’S
rights under Board Patent Rights; and subject to the written approval of UTSCC and, where required, BOARD, to use the Names for such other purposes as UTSCC and BOARD shall permit and may, under law, allow ; provided however, that LICENSEE shall not
be obligated to use such Names in any manner. 
  

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= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 D. BOARD and UTSCC hereby grant to LICENSEE the right of access to, during normal business hours, and the
use of, all experimental or other data which relate in any manner to the BOARD Patent Rights or the BOARD Technical Information, including without limitation, all data which BOARD has provided to the United States Patent Office, the Food and Drug
Administration (FDA) or any other state, federal, foreign or local regulatory authority which relate in any manner to the BOARD Patent Rights or the BOARD Technical Information, and BOARD and UTSCC agree that they will not use, or permit the use of,
such information and data, nor do anything else which will adversely affect LICENSEE’S rights under this Agreement in any manner. BOARD and UTSCC shall cooperate fully with LICENSEE, at LICENSEE’S expense, in order to obtain the regulatory
approval of any state, federal, foreign or local authority which now is or later becomes necessary to develop manufacture, use, market or sell any Product. Such cooperation shall include, but not be limited to, obtaining all necessary regulatory
approvals which are now required, or may in the future be required to manufacture, use, market or sell any Product for use in any application thereof. BOARD and UTSCC shall execute any and all documents reasonably necessary to obtain such approvals
upon request by LICENSEE. LICENSEE shall reimburse BOARD and UTSCC for any reasonable out-of-pocket costs, plus overhead not to exceed 50% of out-of-pocket costs, including attorneys’ fees, incurred by BOARD and UTSCC in connection with such
cooperation. At such time as clinical trials are commenced, LICENSEE agrees that it will enter into an appropriate agreement with UTSCC regarding the conduct of such trials but LICENSEE shall not be required to conduct such trials at UTSCC.

 E. UTSCC shall promptly provide LICENSEE and shall continue to provide LICENSEE, during the term of this Agreement, with all information
relating to (i) pharmacological, toxicological or clinical data, (ii) synthetic, formulative, manufacturing or analytical data, and (iii) such other chemical, physical or biological data which UTSCC may now or in the future possess or
control which relates in any manner to the Licensed Subject Matter or Improvements, except for that information made confidential by law or prior agreement. 
 F. The parties recognize that LICENSEE may encounter patents or other proprietary rights held by third parties which dominate activities covered by the BOARD Patent Rights or BOARD Technical Information, and that
cross-licenses between the BOARD (or LICENSEE) and such third parties may be necessary in order to enable LICENSEE to exercise the rights granted under this Agreement. In that event, LICENSEE has the right to enter into cross-licensing agreements
with third parties and to grant cross-licenses under any or all of the BOARD Patent Rights or BOARD Technical Information, provided: 
 1. BOARD and UTSCC are consulted beforehand and are reasonably satisfied that the third party does in fact hold a patent or own other proprietary rights that limits LICENSEE’s ability to exercise the rights granted herein. 

 

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 2. In BOARD’s and UTSCC’s reasonable judgement, the rights received by LICENSEE
under such cross-licensing agreement cover only Licensed Patented Products or Processes or Licensed Non-Patented Products or Processes and are not directed to other products; 
 3. BOARD incurs no financial or legal liabilities under the cross-licensing; 
 4. Any money or the value of any equipment, including license issue fees (and not including proceeds from sale of marketing rights as
described in Paragraph III.A.3.), received by LICENSEE in exchange for such cross-licensing is treated as Net Sales for Products. 
 III.

 ROYALTIES AND PAYMENTS 
 A. In consideration of the grant by BOARD to LICENSEE of this license, LICENSEE shall pay to UTSCC as follows: 
 1. For each Licensed Patented Product or Process, an earned royalty as set forth in the schedule below: 
  

			
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 of the Net Sales made by LICENSEE or its Subsidiaries in all countries where a patent included
within the BOARD Patent Rights issues, or a patent application included within the BOARD Patent Rights has been filed and is pending, with claims covering such Licensed Patented Product or Process, until the expiration or other termination of such
patents or applications, or a determination of the invalidity or unenforceability thereof by a court of final jurisdiction or the determination that such patent will not issue. 
 For purposes of calculating royalties under the above schedule (under this Paragraph III.A.1. and the following Paragraph III.A.2.), and
for reporting purposes hereunder, each separate therapeutic drug, regardless of application, shall be considered a single licensed Product or Process, and all non-therapeutic Products and Processes shall be considered in the aggregate as a single
licensed Product or Process. 
 2. An earned royalty of [**] the rate described in Paragraph III.A.1., hereinabove, for the
same schedule of Net Sales for each Licensed Non-Patented Product or Process by LICENSEE or its Subsidiaries during the term of this Agreement. Further, and except as provided in Paragraph III.A.4., if a Licensed Patented Product or Process becomes
a Licensed Non-Patented Product or Process (e.g. upon abandonment of a previously pending patent application), the royalty basis shall include Net Sales of said Product or Process made when said Product or Process was a Licensed Patented Product or
Process. 
  

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 3. An earned royalty of [**] of the royalty received by the LICENSEE or its
Subsidiaries from their sublicensees hereunder, such royalty to be measured upon and based on the actual proceeds received by LICENSEE or its Subsidiaries under the sublicense agreement and not the total Net Sales generated by the marketing or
distribution of the Products by the sublicensee. Such earned royalty shall be due for as long as LICENSEE or its Subsidiary is receiving from the sublicensee proceeds relating to the rights licensed hereunder, but not in excess of the duration of
this Agreement. 
 In addition, in the event LICENSEE transfers or sells any of the marketing rights to any Product to a
non-related corporation, firm, association, partnership, or other entity, the proceeds from such sale of marketing rights is hereby expressly excluded from the terms of this Article III, and no royalty payments shall be due thereon, provided,
however, that income to LICENSEE derived from the sales of any Product by said entity, association, firm, partnership or corporation shall be subject to the royalty provided in this Paragraph III.A.3; and provided further, that the total royalty
under Paragraphs III.A.1., III. A.2. and III.A.3. shall not in any event exceed that amount which would otherwise be due and payable under Paragraphs III.A.1. or III.A.2., as the case may be, had such royalties been paid on the ultimate sale of such
Product in the marketplace. 
 4. In no event will LICENSEE be obligated to pay royalties under Paragraphs III.A.1., III.A.2.
or III.A.3 simultaneously for Net Sales of any particular Product in any given country. A single royalty will be due on the sale of each Product by LICENSEE or its Subsidiaries, no matter how many items in the BOARD Patent Rights or BOARD Technical
Information cover such Product. No royalty shall be due or payable on a Licensed Patented Product or Process after the BOARD Patent Rights covering said Licensed Patented Product or Process have expired. 
 5. Earned royalties in the amount set out in Paragraph III.A.2. shall accrue in each country only for the period that the LICENSEE is the
exclusive commercial source in that country of a Licensed Non- Patented Product or Process. The term “exclusive commercial source” as used above shall mean that the LICENSEE is the sole commercial source of the Licensed Non-Patented
Product or Process in that country and that there is no commercial product available in that country that is substantially equivalent in market acceptance, except as may otherwise be provided, brought about, or allowed by LICENSEE. If the LICENSEE
believes that it is not the exclusive commercial source of a Licensed Non-Patented Product or Process in any designated country, then it shall also notify BOARD and provide reasonable evidence thereto. Within 45 days of receipt of said 

  

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notice and evidence, BOARD shall notify the LICENSEE in writing of its acceptance or rejection of the evidence as to the existence of another commercial
source. Upon acceptance by BOARD, the LICENSEE shall, as of said date of acceptance, no longer have any obligation to pay royalties on Net Sales in that country based on the amount set out in Paragraph III.A.2. herein. In such event, the amount set
out in Paragraph III.A.2. shall be reduced to an amount equal to [**] of the applicable amount, and LICENSEE shall pay such reduced royalty amount. 
 6. Except as provided in Paragraph VI. C., below, BOARD understands that, in order to successfully market Products and Processes covered by this Agreement, LICENSEE makes no warranty that it will market the Products
or Processes covered by this Agreement or, if LICENSEE does market any of such Products or Processes, that they will be the exclusive means by which LICENSEE will participate in this field. All business decisions relating to use, manufacture, sale
or marketing of Products covered under this Agreement will be within the sole discretion of LICENSEE. 
 7. In the event that
LICENSEE enters into a joint venture with another entity and utilizes the rights granted herein in combination with the technology of such entity or any of LICENSEE’s technology not subject to this Agreement, then Net Sales for purposes of
calculating royalties as provided in Paragraphs III.A.1 or III.A.2. hereunder, as the case may be, shall be deemed to be LICENSEE’s income received from such joint venture that is derived from utilization of the rights granted herein.

 8. Where a Product is not sold separately but is sold in combination with or as part of other products, the Net Sales of
the Product so sold shall be calculated, for the purpose of computing royalties due, by applying to the total selling price of the combination or composite product a fractional multiplier having as its denominator the total selling price of the
combined or composite product (determined by generally accepted accounting principles) and as its numerator the selling price of the included Product (similarly determined). 
 9. LICENSEE shall pay UTSCC cash bonuses of [**] for each NDA approved Product conceived, discovered, or reduced to practice by the
Researchers/Inventors. 
 IV. 
 REPORTING, PAYMENT AND MARKING 
 A. LICENSEE agrees to keep proper records and books of account in accordance with
generally accepted accounting principles, showing the sales upon which the royalty payments of LICENSEE are based, and all other information necessary for the accurate determination of payment to be made hereunder and to deliver to UTSCC, within
forty-five (45) days after each calendar quarter ending on March 31, June 30, September 30 and December 31, a report showing the information on which the payments herein provided are calculated and to accompany
each such report with the payments shown to be due thereby. 
  

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 B. On reasonable written notice, UTSCC at its own expense, shall have the right, exercisable only once in
any calendar year, to have an independent certified public accountant or an appropriate representative of UTSCC, reasonably satisfactory to LICENSEE, inspect and audit the books and records of LICENSEE, its Subsidiaries and its sublicensees during
usual business hours of LICENSEE, its Subsidiaries and its sublicensees for the sole purpose of, and only to the extent necessary for, determining the correctness of payments due under this Agreement. Such examination with respect to any fiscal year
shall not take place later than three years following the expiration of such period. If such inspection and audit results in a discrepancy in the correctness of the payments due under this Agreement in an amount in excess of five percent
(5%) of the monies due to UTSCC for any single quarter audited, LICENSEE shall pay any and all costs or fees associated with said audit and charged to UTSCC by said independent accounting firm, together with the corrected amount of royalty
payments due hereunder, or give notice of challenge or intent to challenge the audit results, within thirty (30) days after LICENSEE’s receipt of the audit results. Upon determination that such a challenge has failed, LICENSEE shall make
any required payments, as described in the preceding sentence, together with interest thereon at the per annum prime rate announced or established by Texas Commerce Bank, National Association, Houston, Texas during the period of nonpayment or at the
maximum rate allowed by law, whichever is lower. 
 C. Royalties based on Net Sales in any foreign country shall be payable to BOARD in the
United States in United States Dollars. Dollar amounts shall be calculated using the foreign exchange rate, as published by the Wall Street Journal (corrected for typographical errors), in effect for such foreign currency on the last business day of
each calendar quarter for which a report is required. Where royalties are due for Net Sales in a country where, for reasons of currency, tax or other regulations, transfer of foreign currency out of such country is prohibited, LICENSEE has the right
to place UTSCC’s royalties in a bank account in such country in the name of and under the sole control of UTSCC; provided, however, that the bank selected be reasonably acceptable to UTSCC and that LICENSEE inform UTSCC of the location, account
number, amount and currency of money deposited therein. After UTSCC has been so notified, those monies shall be considered royalties duly paid to UTSCC, will be completely controlled by UTSCC, and LICENSEE will have no further responsibility with
respect thereto. 
 D. All foreign taxes on royalty payments hereunder, imposed upon or required to be withheld from such royalty payments by
LICENSEE, its Subsidiaries or its sublicensees, shall be deducted from such payments (but not in excess of BOARD royalties). 

  

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LICENSEE shall make timely payment of such foreign taxes and evidence of such timely payment shall be delivered to BOARD at the time of the reports with
respect to such royalty payments. LICENSEE agrees, however, to assist BOARD in recovering or preventing the levy or withholding of any such taxes, provided that LICENSEE shall be reimbursed for its out-of-pocket expenses incurred in rendering any
such assistance. 
 E. LICENSEE agrees to mark all Licensed Patented Products or Processes sold by it or its sublicensees covered by the
BOARD Patent Rights with appropriate patent marking, such marking to be agreed upon between the parties hereto, and where there is a copyright interest to be protected, to provide notice of copyright for the Product sufficient to maintain legal
claim to copyright in the country of origin of such Product. 
 V. 
 ADDITIONAL PATENT APPLICATIONS AND RIGHT TO FILE SUIT 
 A. 1. LICENSEE
shall reimburse BOARD for its reasonable out-of-pocket costs, including attorneys’ fees, of filing and prosecuting the existing patents or patent applications included in Schedule I attached hereto. 
 2. BOARD shall file additional patent applications in the United States and in any foreign countries in which LICENSEE notifies BOARD that
LICENSEE desires applications relating to the Licensed Subject Matter to be filed, and such additional patent applications, and patents issuing thereon, shall be included within the BOARD Patent Rights, or, with prior approval of BOARD, LICENSEE may
file any particular patent application. LICENSEE shall reimburse BOARD for its reasonable out-of-pocket costs, including attorneys’ fees, of filing and prosecuting such additional patent applications. BOARD, at its expense, shall be free to
file in any foreign country not elected by LICENSEE, provided that BOARD provides LICENSEE with thirty (30) days advance written notice of its desire to file for any such patent and that no filing deadline would be missed by such notice. If
LICENSEE does not notify BOARD within such time period of its desire to have BOARD file for a patent on LICENSEE’s behalf, then the patent rights associated with such filing shall not be licensed under this Agreement. 
 3. BOARD shall have the full and complete control over the prosecution of such domestic and foreign patent applications, but shall keep
LICENSEE advised as to such patent prosecution by supplying to LICENSEE copies of any official actions, amendments, responses and other correspondence, including copies of patents or other material referred to or cited therein, within a reasonable
period of time after receipt or filing thereof by BOARD. 
  

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 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 4. In the event that BOARD elects not to file or prosecute a patent application relating
to the Licensed Subject Matter, LICENSEE shall have the right to file and prosecute any such application at its own expense and such application shall be included in BOARD Patent Rights and subject to the terms of this Agreement. 
 B. 1. LICENSEE shall have the right, exercisable at LICENSEE’s sole discretion, to file and control the prosection of any and all suits seeking to
enjoin or recover damages from any and all infringers of any patent which is then included within the BOARD Patent Rights or any proprietary Rights within the BOARD Technical Information, and shall have the right to join BOARD as a party in any such
suit filed by LICENSEE. LICENSEE shall bear the expense of any such suit, and any amounts recovered, whether by final judgement, settlement or otherwise, as a result of such suit shall be the sole property of LICENSEE, the net proceeds of which
(after deductions for attorney’s fees and other reasonable expenses incurred in conjunction with such proceedings) shall be subject to the royalty and reporting provisions of Articles III and IV, and treated as additional Net Sales of a single
Product. 
 2. In the event that LICENSEE shall not institute or prosecute any suit to enjoin or recover damages from any
infringer, BOARD may do so at its sole expense, provided BOARD has first given LICENSEE 60 days’ advance notice of its intention to take such action and, provided further, that LICENSEE has not itself taken or advised BOARD of its intent to
take appropriate action during such 60-day period. Any amounts recovered in an action brought by BOARD, whether by final judgement, settlement or otherwise in any such suit shall be the sole property of BOARD. 
 3. LICENSEE and BOARD agree that neither will settle any action commenced by it in a manner that is prejudicial to any BOARD Patent Rights
or BOARD Technical Information without the other party’s prior written approval. BOARD and LICENSEE each agree that it will promptly notify the other of any infringement or potential infringement of any BOARD Patent Rights or BOARD Technical
Information which comes to its attention. 
 4. In any suit or dispute involving any infringement, BOARD and LICENSEE shall
cooperate fully, and upon the request of the party bringing suit, the other party shall make available all appropriate personnel and all relevant records, papers, information, samples, specimens, and the like which may be relevant and in its
possession or control. In the event a court of final jurisdiction determines that the BOARD Patent Rights (or any portion thereof) are invalid or unenforceable, no further royalty payment on the Product arising from the invalid or unenforceable
Board Patent Rights or such portion thereof (as applicable), shall be due or owing hereunder. 
  

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 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 5. Except as otherwise provided in this Paragraph V.B.5 or Paragraph II.F., in the event
the making, using or selling of the Licensed Patented Products or Processes or Licensed Non-Patented Products or Processes is determined, by a court of final competent jurisdiction, to infringe one or more claims of a valid, subsisting patent or
other proprietary right owned by a third party, no royalty payments shall be due BOARD with respect to such Product or Process from such infringing activities in that jurisdiction from the time such determination is made until such patent or other
proprietary right expires. In the event that any party hereto is able to negotiate with a third party a license for royalties based on a good faith assessment of the strength and enforceability of said third party’s patent or other proprietary
right, royalty payments due under Article III will be paid only to the extent that such payments exceed any royalty payments made by LICENSEE to such third party as a result of such negotiated license but in no event shall such payments be reduced
below fifty percent (50%) of that otherwise due. 
 VI. 
 DURATION AND TERMINATION 
 A. Unless otherwise provided herein, this
Agreement shall remain in full force and effect until the later to occur of (i) the expiration of the last patent relating to the Licensed Subject Matter or Improvement licensed hereunder or (ii) seventeen (17) years from the date of
the last Notice of Acceptance (as hereinafter defined). A “Notice of Acceptance” is a written communication by one of UTSCC and LICENSEE to the other of such parties advising (a) in the case of such notice originating from UTSCC, that
new technology covered by this Agreement has been licensed to LICENSEE hereunder, or (b) in the case of such notice originating from LICENSEE, that LICENSEE has accepted the license of new technology that is covered by this Agreement; or, in
the event that no patent issues and no such Notice of Acceptance is given under rights granted herein, this Agreement automatically terminates seventeen (17) years after the effective date of this Agreement. It is understood that no royalties
shall be due on any sales of Licensed Patented Products or Processes in any country where the applicable BOARD Patent Rights have previously expired or where, pursuant to other provisions of this Agreement, no further royalty payments are due for
other reasons. 
 B. This Agreement may be terminated by either party, if the other party substantially fails to perform or otherwise
materially breaches any of the material terms, covenants or provisions of this Agreement, such termination to be effected in accordance with the provisions hereof. In such event, the non-breaching party shall give written notice of intent to
terminate to the breaching party stating the grounds therefor. The party receiving the notice shall have sixty (60) days thereafter to correct such breach. If such breach is not corrected within said sixty (60) days after notice as
aforesaid, then the party sending the notice of intent to terminate, at its option, may terminate this Agreement by further written notice thereof to the party in breach, provided however, that if such breaching party 

  

 - 12 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
notifies the terminating party that it is in good faith attempting to cure such breach, describing the manner thereof, or if the breach is incurable and the
breaching party is willing to compensate in damages, such termination may not occur during the period of such cure or negotiation of damages. 
 C. BOARD shall have the right, upon ninety (90) days’ written notice, to terminate the license grant with respect to a particular Product without terminating this Agreement if LICENSEE has failed to commercialize such Product. If
the LICENSEE shall demonstrate to the reasonable satisfaction of the BOARD that it has an ongoing and active research, developmental, manufacturing, marketing, clinical testing, or licensing program, directed toward production and sale of such
Product, then LICENSEE shall be deemed to have satisfied the requirements herein to commercialize such Product. 
 D. In the event either
LICENSEE or UTSCC (a) discontinues business, except for assignments permitted pursuant to Article X herein, or pursuant to the granting of any sublicenses permitted hereunder to the extent that such sublicenses do not conflict with Article X
herein, (b) applies for or consents to appointment of a receiver, trustee or liquidator for it or all or a substantial portion of its assets, (c) has filed against it an involuntary petition in bankruptcy which is not dismissed or stayed
within one hundred twenty (120) days of filing, or (d) files a voluntary petition in bankruptcy or a petition or answer seeking reorganization or an arrangement with creditors or seeking to take advantage of any other law (whether federal
or state) relating to relief of debtors, then at any time thereafter for so long as such event continues in effect, UTSCC, with respect to any such action by or against LICENSEE, and LICENSEE, with respect to any such action by or against UTSCC, may
terminate this Agreement with respect to such defaulting party upon written notice thereof to the defaulting party, provided, however, that with respect to the occurrences described in (b), (c) and (d) above, this Agreement shall not be
terminable so long as LICENSEE is in good faith attempting to reorganize, pursuant to Chapter 11 of the Bankruptcy Code, so as to continue its operations. 
 E. In the event of termination of the Agreement in whole or in part for any reason whatsoever, the following shall apply, limited, however, to those BOARD Patent Rights and BOARD Technical Information being terminated
and applicable Products: 
 1. No party shall thereby be discharged from any liability or obligation to any other party which
became due or payable prior to the effective date of such termination; 
 2. If LICENSEE, its Subsidiaries or its sublicensees
then possess Products, have started the manufacture thereof or have accepted orders therefor, LICENSEE, its Subsidiaries or sublicensees shall have the right to sell their inventories thereof, complete the manufacture thereof and market such fully
manufactured Products, and/or manufacture and sell Products, in order to fulfill such accepted orders, subject to the obligation of LICENSEE to pay BOARD the earned royalty payments and provide the reports therefor as provided in Articles III and IV
of this Agreement; 
  

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 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 3. Subject to Paragraph VI.E.2., LICENSEE shall discontinue, and shall cause its
Subsidiaries and sublicensees to discontinue, the manufacture, use, marketing and sale of Products, and shall, at BOARD’S option, terminate or assign any sublicenses granted hereunder to BOARD, and LICENSEE shall immediately discontinue use of
the Names; and 
 4. All rights sold, assigned or transferred by BOARD to LICENSEE hereunder and then subject to termination
shall revert to BOARD, and LICENSEE agrees to execute all instruments necessary and desirable to revest said rights in BOARD. 
 5. LICENSEE’S right to file and prosecute suits against infringers for activities occurring during the term of this Agreement shall survive the termination or expiration of this Agreement. 
 VII. 
 ADDRESSES

 A. Any notice, communication, request, instruction, payment or other document required or permitted herein shall be deemed
delivered upon mailing by regular mail (except in the case of notice provided for herein, in which case certified mail, return receipt requested, shall be required), postage prepaid, or by prepaid telegram, or upon personal delivery, to the parties
at the following addresses: 
  

					
	If to the LICENSEE:	 		 	 Argus Pharmaceuticals, Inc.
 2170 Buckthorne Place,
Suite 350-A
 The Woodlands, Texas 77380
 Attention: President

			
	If to UTSCC:	 		 	 Mr. Steven C. Schultz
 Executive Vice
President
 for Administration
 The University of Texas System

 Cancer Center
 1515 Holcombe
 Houston, Texas 77030

  

 - 14 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

					
			
	If to BOARD or SYSTEM:	 		 	 Office of General Counsel
 The University of Texas System

 201 West 7th Street
 Austin, Texas 78701

 (or at such other address in care of such other person as hereafter shall be designated in writing by any party).
With respect to any notices to the BOARD, SYSTEM, or UTSCC involving intellectual property right matters, a copy shall be sent to: 
 System
Intellectual Property Officer 
 Office of General Counsel 
 The University of Texas System 
 201 West 7th Street 
 Austin, Texas 78701 
 VIII. 

CONFIDENTIAL INFORMATION 
 A. BOARD, UTSCC and LICENSEE each agree that all information relating to the R & D Contract and the Licensed Subject Matter and Improvements licensed hereunder contained in documents marked “Confidential” which are forwarded
to one by the other shall be received in strict confidence, used only for the purposes of this Agreement or said R & D Contract, and not disclosed by the recipient party (except as required by law), its agents or employees without the prior
written consent of the forwarding party, unless such information (i) was in the public domain at the time of disclosure, (ii) later became part of the public domain through no act or omission of the recipient party, its employees, agents,
successors, or assigns, (iii) was lawfully disclosed to the recipient party by a third party having the right to disclose it, (iv) was already known by the recipient party at the time of disclosure or (v) was independently conceived,
discovered, or reduced to practice or (vi) is required to be submitted to a government agency pursuant to any obligation imposed or right granted hereunder. 
 Each party’s obligation of confidence hereunder shall be fulfilled by using the same degree of care with the other party’s confidential information it uses to protect its own confidential information.
Nothing contained herein shall prevent BOARD, UTSCC or LICENSEE, its Subsidiaries or its sublicensees from disclosing information to the extent such information is required to be disclosed, and after securing or making a good faith effort to secure
confidentiality limitations comparable to the foregoing, (i) in connection with the securing of necessary governmental authorization for LICENSEE’s, its Subsidiaries’ or sublicensees’ manufacture, use or sale of a Licensed
Patented Product or Process or Licensed Non-Patented Product or Process, (ii) for the purpose of BOARD’s, UTSCC’s, LICENSEES’s, or any of their Subsidiaries’ or sublicensees’ compliance with governmental regulations,
(iii) for the purpose of sublicensing or distribution and sale as provided for herein, or (iv) in connection with the development, manufacture, use or sale of any Product as provided for herein. 
  

 - 15 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 Except as herein expressly provided, or as provided in the R & D Contract, UTSCC and BOARD further
agree that they will not use the BOARD Patent Rights or BOARD Technical Information for the benefit of any party other than LICENSEE, itself and Board, or that any such use (except as provided for noncommercial academic purposes) shall be solely for
the performance of its obligations under such Agreement. UTSCC shall obtain appropriate written agreements from all persons other than employees that may have access to the BOARD Patent Rights or BOARD Technical Information pursuant to which such
party agrees to so maintain in strict confidence all such material and not to use such material except for the benefit of LICENSEE, UTSCC or Board, and UTSCC shall obligate all employees to maintain the confidentiality of all such information and
not to use such material except as permitted in such Agreements. The obligations imposed by this section shall exist for so long as this Agreement is in force and for a period of three (3) years thereafter, unless a license grant is terminated
for failure to commercialize in accordance with Paragraph VI. C., above, or for failure to pay as provided in Articles III and IV, or because of any other material default of LICENSEE hereunder, in which cases UTSCC’s and BOARD’s
obligations of confidentiality with respect to such Licensed Subject Matter also terminate. 
 IX. 
 ENTIRE AGREEMENT 
 A. This
Agreement, together with the R & D Contract, as well as the schedules and exhibits thereto and hereto, contains the entire agreement and understanding between the parties with respect to the subject matter hereof, and merges all prior
discussions, representations and negotiations with respect to the subject matter of this Agreement and is to be interpreted in accordance with the laws of the State of Texas. 
 X. 
 ASSIGNMENT 
 A. This Agreement may not be assigned by any party, without the prior written consent of the other parties, which consent shall not be unreasonably
withheld, provided that LICENSEE may assign this Agreement to any purchaser or transferee of all or substantially all of LICENSEE’s business upon prior written notice to BOARD, and provided further, that nothing shall prevent LICENSEE from
entering into sublicensing agreements, or the sale of marketing rights as herein provided, with other parties. This Agreement shall be binding upon and inure to the benefit of BOARD, UTSCC, LICENSEE and their respective permitted assigns and
sublicensees and successors in interest. 
 LICENSEE agrees that it shall provide copies of all sublicenses and assignments to UTSCC.

  

 - 16 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 XI. 
 REPRESENTATIONS AND WARRANTIES 
 BOARD, and where applicable, UTSCC, make the following
representations and warranties, as of the effective date hereof; 
 A. Except as otherwise disclosed to LICENSEE, BOARD represents and
warrants that it owns the entire right, title and interest in and to the BOARD Patent Rights, including without limitation the patents and patent applications listed on Schedule I., and the BOARD Technical Information and that there are no
outstanding liens, encumbrances, agreements or understandings of any kind, either written, oral or implied which are inconsistent with any provision of this Agreement, except to the extent that research funded by Federal Government grants may be
subject to a reserved non-exclusive license to the Government. Except for the foregoing, BOARD represents and warrants that it has the sole right to grant licenses under the BOARD Patent Rights and BOARD Technical Information and that it has not
granted a license, made any assignment, or granted any rights with respect thereto, to any other person. 
 B. BOARD and UTSCC represent and
warrant that, to the best of their knowledge and except as otherwise disclosed to LICENSEE, no individual or entity has asserted that BOARD, or any employee, agent, representative or other person affiliated with BOARD is infringing or has infringed
any foreign or domestic patent or has misappropriated or improperly used or disclosed any trade secret, confidential information or know-how which relates in any manner to the subject matter of this Agreement. 
 C. BOARD and UTSCC represent and warrant that they have no knowledge that any person or individual is infringing or has infringed any foreign or domestic
patent included within the BOARD Patent Rights, or has misappropriated or improperly used or disclosed any trade secret, confidential information, or know-how included within the BOARD Technical Information. 
 D. BOARD and UTSCC represent and warrant that they have received no notice that any patent or patent application listed on Schedule I. is the subject of
any reexamination proceeding or any pending interference, opposition, cancellation or other protest proceeding. 
 E. BOARD and UTSCC
represent and warrant that they have no knowledge of any foreign or domestic patent or patent application which is reasonably expected by BOARD to restrict LICENSEE from manufacturing, using or selling any Product. 
 F. Except as otherwise disclosed to LICENSEE, BOARD and UTSCC represent and warrant that neither of them is aware of any sponsored research and
development program between UTSCC and a party other than LICENSEE which relates to or in any way affects the Licensed Subject Matter. BOARD and UTSCC shall not enter into any agreement which will adversely affect the ability of LICENSEE to exercise
the rights granted herein, without the prior written consent by an authorized representative of LICENSEE. 
  

 - 17 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 XII. 
 INDEMNIFICATION 
 A. LICENSEE agrees to indemnify and hold harmless UTSCC, SYSTEM, BOARD and
their Regents, officers, agents and employees (“Indemnified Person”) from any liability, loss or damage they may suffer as a result of claims, demands, costs or judgments against them arising out of the activities conducted pursuant to
this Agreement, provided, however, that any such liability, loss or damage resulting from, arising out of, or incident to, directly or indirectly, the following subsections a. or b. is excluded from this indemnification: 
 a. Any negligent or willful failure to comply with any applicable FDA or other governmental requirements; or 
 b. The negligence or willful malfeasance of an Indemnified Person. 
 UTSCC agrees to endeavor in good faith to provide LICENSEE with a copy of a notice of claim or action which is a matter subject to indemnification in accordance with the terms hereof, in order for LICENSEE to defend
such claim or action. LICENSEE shall have the right to control the defense of any such claim or action, at its own expense. UTSCC and Board agree to cooperate with LICENSEE in the defense of such claim or action. Failure of UTSCC to notify LICENSEE
as required above or to cooperate with LICENSEE, which failure materially adversely affects LICENSEE’s ability to defend such claim or action or directly results in LICENSEE incurring liability hereunder, shall relieve LICENSEE from any
obligation of indemnification hereunder. In the event that an Indemnified Person who is no longer associated with UTSCC, SYSTEM or BOARD fails to notify UTSCC, BOARD or LICENSEE of, or cooperate with LICENSEE with respect to, any claim or action
which is a matter subject to indemnification in accordance with the terms hereof, which failure materially adversely affects LICENSEE’s ability to defend such claim or action or directly results in LICENSEE incurring liability hereunder,
LICENSEE shall be relieved from its obligation of indemnification to such Indemnified Person hereunder. 
 XIII. 
 PUBLICITY AND NEWS RELEASES 
 BOARD, UTSCC, and LICENSEE acknowledge that any party hereto may wish to distribute periodically informational releases and announcements to the news media regarding this Agreement. No party shall release such materials containing the name
of another 

  

 - 18 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
party or any of its employees without the prior approval by an authorized representative of such party, which said approval shall not be unreasonably
withheld. Should a party reject a proposed news release, the parties agree to discuss the reasons for such rejection, and every effort shall be made to develop an appropriate informational news release. 
 XIV. 
 MISCELLANEOUS 

 A. CAPTIONS. The captions in this Agreement are for convenience only and shall not be considered a part of or affect the construction or
interpretation of any provision of this Agreement. 
 B. SEVERABILITY. If any term or other provision of this Agreement is held to be
invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the
transactions contemplated hereby is not affected in any manner adverse to any party. Upon such determination that any term or other provisions is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to
modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. 
 C. EFFECTIVE DATE. This Agreement shall be effective as of the date of the execution of the R & D.Contract by both LICENSEE and UTSCC. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the dates indicated below. 
  

											
	BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM	 		 		 		 	
						
	BY:	 	 /s/ Michael E. Patrick
	 		 	Date:	 	                                  
	 	
		 	Michael E. Patrick	 		 		 		 	
		 	Executive Vice Chancellor for Asset Management	 		 		 		 	
					
	ATTEST:	 		 		 		 	
						
	BY:	 	  
	 		 	Date:	 	                                  
	 	
		 	Executive Secretary, Board of Regents	 		 		 		 	
		 	The University of Texas System	 		 		 		 	
					
	APPROVED AS TO FORM:	 		 		 		 	
						
	BY:	 	 /s/ Dudley R. Dobie, Jr.
	 		 	Date:	 	                                  
	 	
		 	Dudley R. Dobie, Jr.	 		 		 		 	
		 	Office of General Counsel	 		 		 		 	
		 	The University of Texas System	 		 		 		 	

  

 - 19 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

											
	CONTENT APPROVED:	 		 		 		 	
					
	THE UNIVERSITY OF TEXAS SYSTEM CANCER CENTER	 		 		 		 	
						
	BY:	 	 /s/ Charles A. LeMaistre M.D.
	 		 	Date:	 	6/30/88	 	
		 	Charles A. LeMaistre, M.D.	 		 		 		 	
		 	President	 		 		 		 	
					
	THE MACROPHAGE COMPANY, INC.	 		 		 		 	
	(to be renamed “ARGUS PHARMACEUTICALS, INC”)	 		 		 		 	
						
	BY:	 	 /s/ Martin P. Sutter
	 		 	Date:	 	  
	 	
		 	Martin P. Sutter	 		 		 		 	
		 	President	 		 		 		 	

  

 - 20 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 SCHEDULE I 
 TO 
 EXCLUSIVE LICENSE AGREEMENT 
  

	1.	“Liposome Incorporated Nystatin” Lopez-Berestein, Juliano, Hopfer, Mehta, U.S. Serial No. 021,367. Filed March 3, 1987. (UTSCC: 048) 

  

	2.	“Liposome Compositions of Anthracycline Derivatives” Perez-Soler, Priebe, Lopez-Berestein, U.S. Serial No. 051,890. Filed May 19,1987. (UTSCC: 053)

  

	3.	“Liposome Incorporated Mepartricin” Lopez-Berestein, Mehta, U.S. Serial No. 114,280. Filed October 27, 1987. (UTSCC: 056) 

  

	4.	“Formulation and Use of Retinoic Acid and its Analogues in the Treatment of Cancer” Lopez-Berestein, Mehta, Perez-Soler, patent search approved by UTSCC Patent Committee
on February 9, 1987. (UTSCC: 062) 

  

	5.	“Esters of 3’-Deaminodoxorubicin, Liposomal Compositions Thereof and Methods for Their Use” Priebe, Patent Application U.S. filing approved by UTSCC Patent Committee
August 11, 1987. (UTSCC: 064) 

  

 - 21 - 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission.Master Services Agreement

 EXHIBIT 10.3 
 Master Services Agreement 
 This Master Services Agreement (“Agreement”), effective
this 24th day of May, 2007 (“Effective Date”) is entered into by and between Antigenics Inc., a Delaware corporation, having a principal place of business at 162 Fifth Avenue, Suite 900, New York, New York 10010
(“Company”) and Raifarm, a Russian registered company, having an address at 8 Malyi Tolmachevskiy Lane, Building 2, Moscow, 119017, Russia (“Raifarm”) (each singularly a “Party” and
collectively the “Parties”). 
 WHEREAS, Company desires that Raifarm perform certain Services (as defined below) on the
Company’s behalf; 
 WHEREAS, Raifarm has the expertise and resources necessary for the performance of such Services and desires to
perform such Services on Company’s behalf; 
 WHEREAS, Company and Raifarm intend this Agreement to constitute a master agreement under
which such Services will be performed under separate Projects (as defined below) as agreed upon by the Parties hereto from time to time. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties do hereby
agree as follows: 
  

	1.	Projects; Performance. 

 1.1 Projects.
Company and Raifarm may, from time to time, agree upon one or more projects for the performance of Services by Raifarm on behalf of Company and, to the extent agreed by Raifarm, its Affiliates (as defined below) under this Agreement
(“Projects”). For each Project, Company and Raifarm shall agree in writing upon a description of any applicable study specifications, scope of work, contract summary and any other additional information agreed to by the Parties
(“Project Plan”) for the services (“Services”) to be performed by Raifarm for such Project. Each Project Plan shall be attached as Exhibit A and sequentially numbered with the first Project Plan attached as Exhibit
A-1, the second attached as Exhibit A-2, and so on. Each Project Plan shall be deemed a part hereof. In the event of any conflict between a Project Plan and the provisions of this Agreement, the provisions of this Agreement shall prevail. As used in
this Agreement, “Affiliates” is defined as a party that directly or indirectly controls, or is controlled by, or is under common control, with the Party specified. Raifarm shall perform and complete the Services in accordance with
this Agreement, the Project Plan, and all applicable federal, state and local laws, rules, regulations and guidelines. The Parties acknowledge and agree that although the services described in Exhibit A-1 were performed prior to the Effective Date
hereof, such services constitute Services under this Agreement. 
 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment
request. An unredacted version of this agreement has been filed separately with the Commission. 

 1.2 Performance by Raifarm. Raifarm shall not subcontract any portion of a Service to be performed
hereunder without Company’s prior written consent. Raifarm shall maintain at all times during the Term (as defined below) such staffing and resources as are sufficient to ensure that it has the ability to perform the Services in accordance
herewith. 
 1.3 Obligations of Company. Company shall provide all materials and information necessary for Raifarm to perform its
responsibilities under this Agreement, including, but not limited to: (i) documents and other information related to Raifarm’s performance of it obligations pursuant to this Agreement; and (ii) additional assistance reasonably
requested by Raifarm in connection with any Project or the provision of Services hereunder, including, without limitation, providing any necessary authorizations in connection with any proposed filings to be made on behalf of Company. All such
materials and other information shall be provided reasonably promptly by Company upon the request of Raifarm. In addition, Company shall appoint a “Designated Representative” to whom all such requests shall be made by Raifarm.
Company’s initial “Designated Representative” shall be [**]. All materials and other information provided by Company hereunder shall be subject to the provisions of Article 8 of this Agreement. 
 1.4 Additional Company Requirements. Company agrees that it shall at no time knowingly issue to Raifarm any direction or impose upon Raifarm any
requirements which could foreseeably cause Raifarm to violate any applicable federal, state, or local laws, rules, regulations. 
  

	2.	Agents of Raifarm. 

 Each individual person supplied
by Raifarm to perform the Services (“Agent”) shall be an employee or contractor of Raifarm. Raifarm assumes complete responsibility for paying the wages and benefits of all Agents, for withholding all income and social security
taxes from their wages and for paying workers’ compensation insurance premiums, state and federal unemployment insurance taxes and the employer’s share of social security taxes, if any, on their behalf. The Agents shall not be entitled to
any benefits, coverages or privileges, including, without limitation, social security, unemployment, medical or pension payments, made available by Company to employees of Company. Raifarm represents, warrants, and covenants that any Services
performed in any given country shall be undertaken only by Agents authorized to perform such Services in such country. 
  

 -2- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

	3.	Compensation, Invoicing and Payment. 

 3.1
Compensation. In exchange for the provision of Services during the Term of this Agreement, Company shall pay to Raifarm compensation for Services in accordance with the amounts set forth in the Project Plan for such Project and attached to
this Agreement as an Exhibit in accordance with Section 1.1. In no event shall Company be responsible to compensate Raifarm for amounts in excess of those set forth in the Project Plan, unless such amounts are pre-approved by Company in
writing. 
 3.2. Payment. All payments owing hereunder shall be made by Company to Raifarm within [**] days of receipt by
Company of a valid invoice and satisfactory supporting documentation. Each such invoice shall outline the Services performed by Raifarm and any other information as may be agreed to by the Parties, all in a form that is reasonably satisfactory to
Company. All payments shall be mailed to Raifarm at the following address: 8 Malyi Tolmachevskiy Lane, Building 2, Moscow, 119017, Russia, or shall be made via wire transfer as per the instruction of Raifarm. 
 3.3 Reimbursement of Expenses. To the extent specifically set forth in the applicable Project Plan, Company shall reimburse Raifarm for reasonable
travel as requested by Company and other pre-approved out-of-pocket expenses incurred by Raifarm in the performance of the Services, provided that Raifarm shall have submitted to Company written expense statements and other supporting documentation
in a form that is reasonably satisfactory to Company. Except as specifically provided herein, Company shall provide Raifarm with payment for any amounts due under this Section 3 within [**] days of receipt by Company of a valid invoice from
Raifarm and other satisfactory documentation. Company may agree to advance Raifarm certain funds to be creditable against future expenses incurred in accordance with this Agreement. Such agreement by the Company shall be set forth in the applicable
Project Plan, or shall otherwise be evidenced in writing. Company agrees to consider in good faith any request by Raifarm for an advance of funds to be creditable against future expenses. In such an event, Raifarm shall provide Company with an
invoice and satisfactory documentation promptly after incurring any such expense for which the prepayment amount is applied. 
 3.4
Currency. All compensation and expense reimbursements to be paid under this Agreement shall be paid to Raifarm in U.S. Dollars. 
 3.5
No Additional Obligation/Fair Market Value. Raifarm acknowledges and agrees that the compensation payable hereunder in accordance with the applicable Project Plan represents the Company’s full and complete obligation for any and all
Services to be rendered by Raifarm under this Agreement in connection with such Project Plan. Raifarm further represents to Company that the compensation to be paid hereunder 

  

 -3- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
represents fair market value for Raifarm’s time and Services hereunder. Both Parties acknowledge that the compensation is not determined in a manner
that takes into account the volume or value of any future business that might be generated between the Parties. 
  

	4.	Records. 

 Raifarm shall maintain all records
related to the Services as required by any applicable federal, state and local laws, rules, regulations and guidelines. During the Term and for a period of [**] thereafter, Company or its designee shall be entitled to review such records during
normal business hours and after reasonable notice. Raifarm shall maintain its customary and normal cost accounting procedures, policies and records as required for proper financial recording and management of the Services. During the Term and for a
period of [**] thereafter, Company, or a reasonably acceptable audit firm designated by Company, shall be entitled [**] per calendar year to reasonably audit the records during normal business hours and after reasonable notice. 
  

	5.	Modification to Project Plan. 

 Any modification to
a Project Plan or the scope of the Services thereunder shall be effective only if in a writing and signed by both Parties, which writing shall detail the agreed changes to the Services to be performed and any changes to the costs or timelines
thereunder. Raifarm agrees that it will consider in good faith any requested modification to a Project Plan, and will not unreasonably withhold approval of a modification provided, that the proposed changes can reasonably be performed by Raifarm
without incurring any additional expenses that Company would not be willing to reimburse, such modification does not impact the proposed delivery date (or any extension thereof provided by Company) of any deliverable to be delivered in accordance
with any Project Plan and does not otherwise conflict with Raifarm’s schedule or obligations to any other party. In no event is Company responsible for paying Raifarm for Services performed outside of the Project Plan (or for costs incurred
outside the Project Plan) without the prior written approval of Company. 
  

	6.	Performance Standards. 

 In accordance with each
Project Plan, Raifarm shall deliver to Company the deliverables set forth in the Project Plan. In fulfilling its obligations as described in the Project Plan, Raifarm shall assign only persons with the appropriate training and qualifications to
perform the Services. All such Services shall be performed with care, skill and diligence, and Raifarm shall use all reasonable endeavors consistent with industry standards to successfully complete such Services in accordance with this Agreement.
Raifarm shall perform the Services in accordance with all applicable laws, 

  

 -4- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
rules, regulations and guidelines, including without limitation the Foreign Corrupt Practices Act. Company shall notify Raifarm if any deliverable is not
accepted by Company as not being completed in accordance with this Agreement and in compliance with all applicable federal, state and local laws, rules, regulations and guidelines. 
  

	7.	Term and Termination. 

 7.1 Term. Unless
sooner terminated in accordance with this Article 7, the Term of this Agreement shall commence on the Effective Date and shall continue until the later of (i) the expiration or termination of the last to expire or terminate Project according to
the terms of the applicable Project Plan and (ii) [**] year(s) from the Effective Date (the “Term”). Notwithstanding the foregoing, this Agreement may be extended by mutual written agreement of both Parties. 
 7.2 Termination By Company. Company shall have the right to terminate a Project (or a portion of the Services for a Project) or this Agreement
with or without cause at any time upon fourteen (14) days prior written notice to Raifarm and upon the written election of Company, Raifarm shall thereafter cease providing Services to Company, and the Company shall have no further obligation other
than payment of compensation to Raifarm in accordance with Article 3 for Services rendered in accordance with this Agreement prior to the date of termination. 
 7.3 Termination By Raifarm. In the event that Company commits a material breach of its obligations under this Agreement, Raifarm may terminate this Agreement upon [**] days prior written notice to Company,
unless the breach is cured in such [**] day period. 
 7.4 Effect of Termination or Expiration. Expiration or termination of a Project
or this Agreement shall not relieve the Parties of any obligation that accrued prior to such expiration or termination. Upon expiration or termination of this Agreement, the rights and obligations of the Parties under Articles 3, 4, 8, 9, 10 and 11,
and Sections 13.6, 13.7, 13.8, 13.9 and this Section 7.4 shall survive except that the payment obligations accruing prior to the date of termination and the payment obligations accrued with the prior written consent of Company shall survive
until fulfilled. 
  

	8.	Confidential Information. 

 8.1 Definition
of Confidential Information. Confidential Information shall mean any technical or business information furnished by Company to Raifarm in connection with this Agreement or developed by Raifarm in the course of performing, and directly related
to, the Services, regardless of whether such Confidential Information is in oral, electronic or written form. Such Confidential Information may include, 

  

 -5- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
without limitation, trade secrets, know-how, inventions, technical data or specifications, testing methods, business or financial information, research and
development activities, product and marketing plans, and customer and supplier information. 
 8.2 Obligations. Raifarm shall, except
as otherwise provided herein: 
 (a) maintain all Confidential Information in strict confidence, except that Raifarm may disclose Confidential
Information to any Agent who needs to know such information for the purpose of rendering Services and who agree to be bound by the provisions of this Article 8; 
 (b) use all Confidential Information solely for the purpose of providing the Services as requested by Company; and 
 (c) reproduce the Confidential Information only to the extent necessary for providing the Services as requested by Company, with all such reproductions being considered Confidential Information. 
 8.3 Exceptions. The obligations of Raifarm under Article 8 shall not apply to the extent that Raifarm can demonstrate that certain information

 (a) was in the public domain prior to the time of its disclosure or development under this Agreement; 
 (b) entered the public domain after the time of its disclosure or development under this Agreement through means other than an unauthorized disclosure
resulting from an act or omission by Raifarm; 
 (c) was independently developed by Raifarm prior to the time of its disclosure or
development under this Agreement; or 
 (d) is or was disclosed to Raifarm at any time prior to its disclosure or development under this
Agreement, by a third party having no fiduciary relationship with Company and having no obligation of confidentiality with respect to such Confidential Information. 
 In addition Raifarm may disclose Confidential Information to the extent necessary to comply with applicable laws or regulations, or with a court or administrative order, provided that, to the extent practicable,
Company receives prior written notice of such disclosure and that Raifarm takes, at the cost and expense of Company, all reasonable and lawful actions to obtain confidential treatment for such disclosure and, if possible, to minimize the extent of
such disclosure.  
  

 -6- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 8.4 Return of Confidential Information. Upon the termination of this Agreement, at the request of
Company, Raifarm shall return to Company all originals, copies, and summaries of documents, materials, and other tangible manifestations of Confidential Information in the possession or control of Raifarm. 
 8.5 Survival of Obligations. The obligations set forth in this Article 8 shall remain in effect for a period of [**] years after termination of
this Agreement, except that the obligations of Raifarm to return Confidential Information shall survive until fulfilled. 
  

	9.	Proprietary Property and Works. 

 9.1 Proprietary
Property. Raifarm acknowledges and agrees that all Confidential Information and Proprietary Property (as hereinafter defined) is and shall remain the exclusive property of Company or the third party entrusting any Confidential Information to
Company. Raifarm shall and hereby assigns, conveys, and grants to Company, all of his right, title, and interest in and to any and all Proprietary Property. Raifarm agrees to promptly disclose to Company any and all Proprietary Property. Raifarm
further agrees to cooperate fully in obtaining patent or other proprietary protection for such Proprietary Property, all in the name of Company and at Company’s cost and expense, and shall execute and deliver all requested applications,
assignments and other documents and take such other measures as Company shall reasonably request in order to perfect and enforce Company’s rights in the Proprietary Property (including transfer of possession to Company of all Proprietary
Property embodied in tangible materials). As used in this Agreement, “Proprietary Property” shall mean any and all inventions, developments, data (including without limitation, written, printed, graphic, video and audio material,
and information contained in any computer database or computer readable form), discoveries, improvements, ideas, concepts, computer programs, algorithms, protocols, systems and related documentation, and any other works of invention or authorship
(whether or not patentable, copyrightable, or entitled to or eligible for other forms of legal protection) generated, conceived, discovered, written, invented, developed, or reduced to practice or tangible medium by or on behalf of Raifarm (whether
alone, jointly with others, or under Raifarm’s direction) in the course of providing, and directly related to, the Services, or which arise directly out of the Services or from access to and/or use of Confidential Information, and any and all
patent, patent applications, copyrights, trademarks, trade secrets or other intellectual property rights in any of the foregoing. Raifarm shall maintain adequate records (whether written, electronic, or otherwise) to document the Proprietary
Property, including without limitation the conception and reduction to practice of all inventions, and shall make such records available to Company upon request. Company shall have sole ownership of all such records. 
 9.2 Works. In addition and without in any way limiting the foregoing, Raifarm agrees that all right, title and interest in and to any works of
authorship or 

  

 -7- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
copyrightable materials resulting directly from performance of Services and all copies thereof, in whatever media, (the “Works”) shall be in
Company. Raifarm specifically agrees that, to the extent that any portion of the Works constitutes a work protectable under the copyright law of the United States (the “Copyright Law”), Company and Raifarm agree that any such
portion of the Works has been specifically ordered and commissioned by Company and shall be considered a “work made for hire” as such term is used and defined in the Copyright Law. Accordingly, Company shall be considered the
“author” of such portion of the Works and the sole and exclusive owner throughout the world of copyright therein. In the event that any portion of the Works constitutes a work protectable under the Copyright Law but does not qualify as a
“work made for hire” as such term is used and defined in the Copyright Law, Raifarm hereby assigns and agrees to assign to Company all right, title and interest in and to copyright in the Works or in any such portion thereof and agrees to
execute and deliver to Company, upon request, appropriate assignments of copyright and such other documents and instruments as Company may request. 
 9.3 For the avoidance of doubt, the Parties acknowledge and agree that any information, data or inventions made by Raifarm outside the scope of, and not directly related to, the Services shall remain the property of Raifarm and are outside
the scope of this Agreement and shall not be assigned by Raifarm to Company. 
  

	10.	Indemnification and Insurance. 

 10.1
Indemnification by Raifarm. Raifarm shall indemnify, hold harmless and defend Company, its Affiliates, and their respective officers, directors, employees and agents (“Company Indemnitees”) from and against any liability,
loss, damage and expense (including reasonable attorney’s fees and court costs) incurred by or imposed upon Company Indemnitees in connection with any third party claim, suit, action, demand or judgment arising out of the (a) the [**] of
Raifarm, or (b) a material breach of any representation, warranty, covenant or other obligation of Raifarm hereunder; provided, however, that Raifarm’s indemnification under this Section 10.1 shall not apply to any liability,
loss, damage, or expense to the extent that it is directly attributable to the [**] of Company. 
 10.2 Indemnification by Company.
Company shall indemnify, hold harmless and defend Raifarm, its Affiliates, and their respective officers, directors, employees and agents (“Raifarm Indemnitees”) from and against any liability, loss, damage and expense (including
reasonable attorney’s fees and court costs) incurred by or imposed upon Raifarm Indemnitees in connection with any third party claim, suit, action, demand or judgment arising out of (a) the [**] of Company, or (b) a material breach of
any representation, warranty, covenant or other obligation of Company hereunder, or (c) the [**], provided, however, that Company’s indemnification under this Section 10.2 shall not apply to any liability, loss, damage, or
expense to the extent that it is directly attributable to the [**] of Raifarm. 
  

 -8- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 10.3 Procedure. Any Raifarm Indemnitee or Company Indemnitee seeking indemnification under
Section 10.1 or Section 10.2 shall provide the indemnifying Party with prompt written notice of any claim, demand, suit, action or judgment for which indemnification is sought under this Agreement. An indemnified party’s failure to
deliver written notice to the indemnifying Party within a reasonable time after the commencement of any such action, if prejudicial to the indemnifying Party’s ability to defend such action, shall relieve the indemnifying Party of any liability
to the indemnified party under this Article 10. The indemnifying Party agrees, at its own expense, to provide attorneys reasonably acceptable to the indemnified party to defend against any such claim. The indemnified party shall cooperate fully with
indemnifying Party in such defense and will permit the indemnifying Party to conduct and control such defense and the disposition of such claim, suit, or action (including all decisions relative to litigation, appeal and settlement); provided,
however, that any indemnified party shall have the right to retain its own counsel, at the expense of the indemnifying Party, if representation of such indemnified party by the counsel retained by the indemnifying Party would be inappropriate
because of actual or potential conflicts in the interests of such indemnified party and any other party represented by the counsel retained by the indemnifying Party. The indemnifying Party agrees to keep the indemnified parties informed of the
progress in the defense and disposition of such claim and to consult with the indemnified parties with regard to any proposed settlement. The indemnification under this Article 10 shall not apply to amounts paid in settlement of any liability,
claim, lawsuit, loss, demand, damage, cost or expense if such settlement is effected without the consent of the indemnifying Party. 
 10.4
Raifarm Insurance. Raifarm shall use commercially reasonable efforts to secure, as soon as practicable and on commercially reasonable terms, a policy of insurance for general liability. Once such policy is obtained by Raifarm, such policy
shall be maintained in full force and effect throughout the remainder of the Term, and shall have a policy limit, deductible and other terms appropriate to the conduct of Raifarm’s business. Upon obtaining such policy, Raifarm shall name
Company as an additional insured thereunder, and shall furnish to Company certificates evidencing such insurance upon Company’s request. Such certificates shall provide for prior written notice to Company of any policy cancellation. 

 

	11.	Limitation of Liability 

 EXCEPT WITH RESPECT TO
LIABILITY ARISING FROM BREACH OF ARTICLES 8 AND 9, AND SECTION 13.11, AND INDEMNITY OBLIGATIONS 

  

 -9- 
 [**] =
Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
WITH RESPECT TO THIRD PARTY CLAIMS ARISING UNDER ARTICLE 10, IT IS AGREED BY THE PARTIES THAT NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY
SPECIAL, CONSEQUENTIAL, INDIRECT, EXEMPLARY OR INCIDENTAL DAMAGES (INCLUDING LOST OR ANTICIPATED REVENUES OR PROFITS RELATING TO THE SAME) ARISING FROM ANY CLAIM RELATING TO THIS AGREEMENT, WHETHER SUCH CLAIM IS BASED ON CONTRACT, TORT (INCLUDING
NEGLIGENCE) OR OTHERWISE, EVEN IF AN AUTHORIZED REPRESENTATIVE OF SUCH PARTY IS ADVISED OF THE POSSIBILITY OR LIKELIHOOD OF SAME. IN NO EVENT SHALL RAIFARM’S LIABILITY ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT EXCEED [**]. THE
FOREGOING LIMITATION ON LIABILITY SHALL NOT APPLY TO ANY BREACHES BY RAIFARM OF ARTICLES 8 AND 9 OR SECTION 13.11 OR INDEMNITY OBLIGATIONS WITH RESPECT TO THIRD PARTY CLAIMS ARISING UNDER ARTICLE 10. 
  

	12.	Representations; Disclaimer of Warranties. 

 12.1
By Raifarm. 
 (a) Raifarm represents and warrants that Raifarm is a corporation duly organized, validly existing and, to the extent
applicable, in good standing under the laws of the jurisdiction in which it is incorporated. Raifarm has all requisite corporate power to own and operate its properties and assets and to carry on its business as presently being conducted and as
proposed to be conducted. Raifarm has, and will have on all relevant dates, all requisite legal and corporate power to execute and deliver this Agreement; 
 (b) Raifarm represents and warrants that the execution and delivery of this Agreement and the performance of the transactions contemplated hereby have been duly authorized by all appropriate Raifarm corporate action.
The performance by Raifarm of any of the terms and conditions of this Agreement on its part to be performed does not and will not constitute a breach or violation of any other agreement or understanding, written or oral, to which it is a party;

 (c) Raifarm represents and warrants to Company that its Agents are experienced and qualified to perform the Services. In the event any
Agent does not meet the above standard, Raifarm shall replace such Agent and shall not invoice Company for the Services of the removed Agents; 
 (d) Raifarm represents and warrants to Company that none of its current obligations conflict with this Agreement or the Services to be provided hereunder, and covenants that it shall not enter into any such conflicting agreement or incur
any such conflicting obligation without the prior written consent of Company. For the avoidance 

  

 -10- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
of doubt, the Parties acknowledge that the provision of consulting services in connection with the registration of potential drugs or other products for any
other company in any country shall not be deemed to conflict with Raifarm’s obligations under this Agreement or with the provision of the Services, as long as Raifarm does not use the Confidential Information of Company in connection therewith,
or otherwise compromise Company’s rights hereunder. Raifarm further represents that the performance of the Services will not breach any agreement or obligation with any third party, including without limitation any obligation to refrain from
engaging in activities that may compete with such party; and 
 (e) Raifarm represents and warrants that all Services hereunder will be
performed in accordance with all applicable laws, rules, regulations and guidelines, including without limitation, the Foreign Corrupt Practices Act, and the provisions of this Agreement. 
 12.2 By Company. 
 (a) Company
represents and warrants that Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Company has all requisite corporate power to own and operate its properties and assets and to carry
on its business as presently being conducted and as proposed to be conducted. Company has, and will have on all relevant dates, all requisite legal and corporate power to execute and deliver this Agreement, and to carry out and perform its
obligations under the terms of this Agreement; and 
 (b) Company represents and warrants that the execution and delivery of this Agreement
and the performance of the transactions contemplated hereby have been duly authorized by all appropriate Company corporate action. The performance by Company of any of the terms and conditions of this Agreement on its part to be performed does not
and will not constitute a breach or violation of any other agreement or understanding, written or oral, to which it is a party. 
 12.3
EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY FURTHER REPRESENTATION OR WARRANTY, AND EXPLICITLY DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IN THE CASE OF RAIFARM, WITH RESPECT TO
THE QUALITY, NATURE OR SUCCESS OF THE SERVICES. 
  

	13.	Miscellaneous. 

 13.1 Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 
  

 -11- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 13.2 Force Majeure. Neither Party will be responsible for delays resulting from causes beyond the
reasonable control of such Party including, without limitation, fire, acts of God, explosion, earthquake, storm, hurricane, natural disaster, flood, war, invasion, act of foreign enemies, hostilities (whether war is declared or not), civil war,
rebellion, revolution, insurrection, military or usurped power or confiscation, terrorism, government sanction, blockage, embargo, labour or trade dispute, strike, lockout or interruption or failure of electricity or riot, provided that the
nonperforming Party uses commercially reasonable efforts to avoid or remove such causes of nonperformance and continues performance under this Agreement with reasonable dispatch whenever such causes are removed. 
 13.3 Assignment. This Agreement shall not be assigned or delegated by Raifarm. This Agreement may be assigned by Company to any of its Affiliates
or in connection with the transfer or sale of all or substantially all of the portion of its business to which this Agreement relates, or in the event of its merger or consolidation or change in control or similar transaction. Any other assignment
by Company shall require Raifarm’s prior written consent, which consent shall not be unreasonably withheld or delayed. Any purported assignment or attempt to assign, or any delegation or attempt to delegate, in violation of this
Section 13.3 shall be void and without effect. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and assigns. 
 13.4 Independent Contractors. Company and Raifarm shall at all times act as independent parties and nothing contained in this Agreement shall be
construed or implied to create an agency or partnership. Neither Party shall have the authority to contract or incur expenses on behalf of the other. The Agents of Raifarm shall not be deemed to be employees of Company. 
 13.5 U.S. Foreign Corrupt Practices Act Compliance. 
 (a) Raifarm acknowledges that it understands that Company is an issuer of securities in the United States and is subject to the provisions of the U. S. Foreign Corrupt Practices Act, 15 U.S.C. §§ 78m, 78dd-1
through 78dd-3 (“FCPA”). This law prohibits making, promising or offering to make corrupt payments to foreign officials, political parties or candidates, or making payments to other persons who will offer or make payments to any of
the aforementioned parties in order to obtain business, retain business or gain an improper advantage. Raifarm represents and warrants to Company that it is familiar with and understands the FCPA. 
 (b) Raifarm represents and warrants to Company that throughout the period in which Raifarm provides Services to Company, neither Raifarm, nor any person

  

 -12- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 
performing Services on behalf of Raifarm will engage in any activity that could cause a violation of any provision of the FCPA by Company. Raifarm represents
and warrants that it has not made, promised to make, or arranged for any third party to make any payments or gifts to foreign officials in connection with its engagement by Company. Further, Raifarm represents and warrants to Company that it has not
violated any anti-corruption law, including any law applicable within the territory of the Russian Federation, and further that Raifarm is not involved in, or the subject of, any investigation involving bribery, corruption or improper payments to
foreign government officials, as defined in the FCPA. Raifarm agrees to update these representations and warranties on a periodic basis as required by Company in a format prescribed by Company. 
 (c) Raifarm agrees to notify Company immediately in writing if Raifarm or any person who is performing Services hereunder on behalf of Raifarm is
suspected of violating any anti-corruption law or becomes involved in, or a subject of, an investigation or law enforcement inquiry into possible improper payments to foreign officials or possible violations of anti-corruption laws. Raifarm further
agrees to provide such notification if Raifarm or any person performing Services hereunder on behalf of Raifarm becomes involved in any action, suit, claim, investigation or proceeding that is pending, or to the knowledge of Raifarm threatened,
relating to a potential violation of any anti-corruption laws, including the FCPA. 
 (d) Raifarm agrees to grant Company the right to audit
Raifarm’s books and records regarding the receipt and disposition of any payments made to Raifarm by Company and Raifarm further agrees to cooperate with Company in connection with such audits. 
 (e) It is agreed between Raifarm and Company that this paragraph 13.5 is deemed by the Parties to be a material provision of this Agreement. 

13.6 Publicity. Raifarm consents to use by the Company of Raifarm’s name and likeness in written materials or oral presentations to
current or prospective customers, investors or others, provided that such materials or presentations accurately describe the nature of Raifarm’s relationship with or contribution to the Company and that the content and likeness in any such
written material and oral presentations has been previously approved by Raifarm. 
 13.7 Notices. Any notice or other communication
required or permitted hereunder shall be in writing and shall be deemed given (a) when delivered personally, (b) on the next business day after timely delivery to an overnight courier (postage prepaid), or (c) on the third business
day after deposit in the United States mail (certified or registered mail return receipt requested, postage prepaid), as follows: 
  

 -13- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

			
	If to Raifarm:	 	Mr. Yuri Raifeld
		 	Raifarm
		 	8 Malyi Tolmachevskiy Lane, Building 2
		 	Moscow, 119017, Russia
		
	With a copy to:	 	Meister Seelig & Fein LLP
		 	2 Grand Central Tower
		 	140 East 45th St., 19th Floor
		 	New York, NY 10017
		 	Attn : Mark J. Seelig, Esq
		
	If to Company:	 	Vice President Regulatory Affairs and Clinical Operations
		 	Antigenics, Inc.
		 	3 Forbes Road
		 	Lexington, MA 02421
		
	With a copy to:	 	Legal Department

 Either Party may change its designated address by notice to the other Party in the manner provided in this
Section 13.7. 
 13.8 Severability. If any one or more of the provisions of this Agreement shall be held to be invalid, illegal
or unenforceable, that provision shall be stricken and the remainder of this Agreement shall continue in full force and effect; provided, however, that the Parties shall renegotiate an acceptable replacement provision so as to accomplish, as
nearly as possible, the original intent of the Parties. 
 13.9 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Massachusetts, without regard to any choice of law principles that would dictate the application of the laws of another jurisdiction. 
 13.10 Entirety; Amendment. This Agreement represents the entire agreement of the Parties and expressly supersedes all previous written and oral
communications between the Parties with respect to the subject matter hereof. No amendment, alteration, or modification of this Agreement or any exhibits attached hereto shall be valid unless executed in writing by authorized signatories of both
Parties. 
  

 -14- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 13.11 Insider Trading. Raifarm acknowledges that he will receive material, non-public information
about Company and its business in the course of providing the Services, that this information must be maintained in strict confidence and that the United States securities laws restrict trading on the basis of such information or providing such
information to third parties who may trade on such information. 
 13.12. Waiver. The failure of any party hereto to insist upon
strict performance of any provision of this Agreement or to exercise any right hereunder will not constitute a waiver of that or any other provision or right. 
 [SIGNATURE PAGE FOLLOWS] 
  

 -15- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized
representatives as of the Effective Date. 
  

									
	ANTIGENICS Inc., a Delaware corporation	 		 	RAIFARM
					
	By:	 	 /s/ Garo Armen
	 		 	By:	 	 /s/ Yuri Raifeld

	Typed Name:	 	Garo Armen, Ph.D	 		 	Typed Name:	 	Yuri Raifeld
	Title:	 	Chairman & CEO	 		 	Title:	 	CEO and President

  

 -16- 
 [**]
= Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version of this agreement has been filed separately with the Commission. 

 EXHIBIT A-1 
 PROJECT PLAN 
  

			
	Scope of Work:	 	Services performed prior to the Effective Date of this Agreement relating to the exploration of the feasibility of marketing registration of Oncophage in Russia [**].
		
	Budget:	 	[**] payable within [**] days of the Effective Date and receipt of a valid invoice and any necessary supporting documentation.
		
	Acknowledgment:	 	Company acknowledges and agrees that such Services as set forth in this Exhibit A-1 have been completed.

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 Exhibit A-2 Scope of Work & Budget for Oncophage’s Registration in Russia** 
  

											
	[**]	 		 		 	PREPAYMENT	 	[**] USD	 	
	 	 	a. [**]	 	 	 	  	 	  	 	  
	 	 	b. [**]	 	 	 	  	 	  	 	  
	 	 	c .[**]	 	 	 	  	 	  	 	  
						
	[**]	 	 	 	 	 	  	 	  	 	  
						
	[**]	 	 	 	 	 	  	 	  	 	  
	 	 	a. [**]	 	 	 	  	 	  	 	  
	 	 	b. [**]	 	 	 	  	 	  	 	  
						
	[**]	 	 	 	 	 	  	 	  	 	  
	 	 	a. [**]	 	 	 	  	 	  	 	  
	 	 	b. [**]	 	 	 	  	 	  	 	  
						
	[**]	 	 	 	 	 	  	 	  	 	  
						
	[**]	 	 	 	 	 	  	 	  	 	  
						
	[**]	 	 	 	 	 	  	 	  	 	  
	 	 	a. [**]	 	 	 	  	 	  	 	  
	 	 	b. [**]	 	 	 	  	 	  	 	  

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

					
	[**]	  		  	At [**] USD
			
		  	Upon [**] USD	  	

	*a.	Confirmed by a separate document incoming number and a seal on all incoming documents 

 Except as otherwise expressly provided herein, the above compensation includes all costs and expenses incurred by Raifarm in the course of conducting the Services in accordance with this Agreement on behalf of any
Agents of Raifarm. Travel expenses of Agents of Raifarm incurred within Russia shall be paid by Raifarm without further reimbursement from Antigenics Inc. unless such travel is expressly requested by Antigenics Inc. specific to tasks which the
Parties agree are not included above. Travel expenses of Agents of Raifarm incurred outside of Russia will be paid by Raifarm and reimbursed by Antigenics.Inc, provided that such costs and expenses are preapproved by Antigenics Inc. 
 Antigenics Inc will reimburse Raifarm for all third-party costs and expenses incurred by Raifarm in the course of conducting the Services in accordance with this
Agreement, including but not limited to, Russian government and regulatory agencies, travel of third party invitees to meetings, and third party expenses associated with any conference or meeting organized on behalf of Antigenics, Inc. and
related to the Scope of Work, provided that all such costs and expenses which exceed [**] shall be pre-approved by Antigenics, Inc.
 Company agrees
to consider in good faith any request by Raifarm for an advance of funds to be creditable against future expenses. In such an event, Raifarm shall provide Company with an invoice and satisfactory documentation promptly after incurring any such
expense for which the prepayment amount is applied. 
 Upon approval and subject to the Board of Directors of Antigenics Inc., Exhibit A3 will be finalized
by the Parties. 
  

	**	This Scope of Work and Budget for Oncophage Registration in Russia relates only to work to be done by Raifarm on behalf of Antigenics, Inc. in connection with the registration of
said drug in Russia. Registration of such drug in any other country, including, without limitation, [**], shall be addressed in a separate Scope of Work if agreed upon by Raifarm and Antigenics, Inc. 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

									
	ACKNOWLEDGED AND AGREED:
			
	ANTIGENICS INC.	 		 	RAIFARM
					
	BY:	 	 /s/ Garo H. Armen
	 		 	BY:	 	 /s/ Yuri Raifeld

	TITLE:	 	Chairman & CEO	 		 	TITLE:	 	CEO and President
	DATE:	 	May 30, 2007	 		 	DATE:	 	May 29, 2007

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 ASSIGNMENT AND ASSUMPTION AGREEMENT 
 THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of June 15, 2007, by and among Raifarm, a Russian registered
company (“Assignor”), Lonverk Limited, a Cyprus registered company (“Assignee”), and, for the purposes of Section 8 only, Antigenics Inc., a Delaware company (the “Company”). 
 Preliminary Statement 
 WHEREAS,
Assignor and the Company entered into that certain Master Services Agreement, dated as of May 23, 2007 (the “Master Services Agreement”); 
 WHEREAS, Assignor desires to assign, and the Assignee desires to assume, all of Assignor’s right, title and interest in and burdens, obligations and liabilities arising under the Master Services Agreement on the
terms hereinafter specified; and 
 WHEREAS, notwithstanding the provisions of Section 13.3 of the Master Services Agreement, the
Company is willing to permit the assignment of the Master Services Agreement from Assignor to Assignee. 
 NOW, THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Assignment.
Assignor hereby assigns, sells, transfers and sets over to the Assignee all of Assignor’s right, title, benefit, privileges and interest in and to the Master Services Agreement, to have and to hold the same unto Assignee, and its successors and
assigns. 
 2. Assumption. Assignee hereby accepts the Master Services Agreement and assumes all of Assignor’s burdens,
obligations and liabilities arising from and after the date hereof with respect to the Master Services Agreement. 
 3. Further
Assurances. Each of the parties hereto covenants and agrees, at its own expense to execute and deliver, at the request of the other party hereto, such further instruments of transfer and assignment and to take such other action as such other
party may reasonably request to more effectively consummate the assignments and assumptions contemplated by this Agreement. 
 4. Entire
Agreement and Modification. This Agreement sets forth the entire understanding of the parties with respect to the subject matter hereof. Any previous agreements or understandings between the parties regarding the subject matter hereof are merged
into and superseded by this Agreement. This Agreement may not be modified or amended except by a written agreement executed by all of the signatories hereto. 
 5. Successors and Assigns. This Agreement shall apply to and be binding in all respects upon, and shall inure to the benefit of, the successors and permitted assigns of the parties hereto. 

 6. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE
OF MASSACHUSETTS WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES OF ANY JURISDICTION, ALL RIGHTS AND REMEDIES BEING GOVERNED BY SUCH LAWS. 
 7. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original copy of this Agreement, and all of which, when taken together, shall be deemed to constitute but one and the
same instrument. 
 8. Consent. Notwithstanding the provisions of Section 13.3 of the Master Services Agreement, the Company
hereby acknowledges, agrees and consents to the transfer of the Master Services Agreement (the “MSA”) from Assignor to Assignee, provided that the Assignor and Assignee maintain in full force and effect that certain Consulting Agreement
dated June 15, 2007, between the Assignor and the Assignee; provided further that the Assignor and the Assignee each guarantees the other parties’ performance under the MSA and/or Consulting Agreement, as the case may be. The parties
hereto further agree that from and after the date hereof, all references to “Raifarm” in the Master Services Agreement shall be deemed to be references to “Lonverk Limited,” and that for the purposes of Section 3.2 and
Section 13.7, the address of Assignee shall be Cyprus – Limassol 3101, Griva Digeni, 84, Office 102, Attn: Dr. Yuri E. Raifeld, President and CEO. This assignment shall not relieve the Assignor of its liabilities under the MSA
for causes of action arising based on activities conducted prior to the assignment, or its obligations under the MSA in the event the Assignee fails to fulfill or perform any obligations under the MSA. 
  

 IN WITNESS WHEREOF, the parties have executed this Assignment and Assumption Agreement on the day and
year first above written. 
  

			
	RAIFARM
		
	By:	 	/s/ Dmitry Dmitrieu
	Name:	 	Dmitry Dmitrieu
	Title:	 	General Director

  

			
	LONVERK LIMITED
		
	By:	 	/s/ Yuri Raifeld
	Name:	 	Yuri Raifeld
	Title:	 	CEO and President

  

			
	For the purposes of Section 8 only:
	
	ANTIGENICS INC.
		
	By:	 	/s/ Garo Armen
	Name:	 	Garo Armen
	Title:	 	Chairman and CEO

 Exhibit A-3 Scope of Work & Budget for Oncophage’s Registration in Russia* 
  

					
	 [**]
	  		  	Written notification to Antigenics Inc. from Lonverk Limited stating [**]: [**] cash and [**] stock compensation **
		  	a. [**]	  	
		  	b. [**]	  	
		  	c. [**]	  	
		  	d. [**]	  	
		  	e. [**]	  	

  

					
	[**]	  		  	Upon [**]: cash [**] and [**] stock compensation
		  	a. [**]	  	
		  	b. [**]	  	
		  	c. [**]	  	

  

					
	 [**]
	  		  	When [**]—[**] cash and [**] stock compensation
		  	a. [**]	  	
		  	b. [**]	  	
		  	c. [**]	  	

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

							
	 [**]
	  		  		  	Upon [**]: Upon [**]: [**] cash and [**] stock compensation. If [**] within [**] – beginning from [**] (*a): bonus comprised of [**] cash and [**] stock
		  	a. [**]	  		  
		  	b. [**]	  		  
		  	c. [**]	  		  
		  	d. [**]	  		  	
				
	 [**]
	  		  		  	
		  	a. [**]	  		  	
		  	b. [**]	  		  	
		  	c. [**]	  		  	
		  		  	[**]	  	

 Except as otherwise expressly provided herein, the above compensation includes all costs and expenses incurred by
Lonverk Limited in the course of conducting the Services in accordance with this Agreement on behalf of any Agents of Lonverk Limited. Travel expenses of Agents of Lonverk Limited incurred within Russia shall be paid by Lonverk Limited without
further reimbursement requested by Antigenics, Inc. specific to tasks which the Parties agree are not included above. Travel expenses of Agents of Lonverk Limited incurred outside of Russia will be paid by Lonverk Limited and reimbursed by
Antigenics Inc., provided that such costs and expenses are preapproved by Antigenics Inc. 
 Antigenics, Inc. will reimburse Lonverk Limited for all
third-party costs and expenses incurred by Lonverk Limited in the course of conducting the Services in accordance with this Agreement, including but not limited to, [**], travel of [**], and [**] associated with any conference or meeting
organized on behalf of Antigenics, Inc. and related to this Scope of Work, provided that all such costs and expenses which exceed [**] shall be pre-approved by Antigenics, Inc.
 Antigenics, Inc. agrees to consider in good faith any request by Lonverk Limited for an advance of funds to be creditable against future expenses. In such an event, Lonverk Limited shall provide Antigenics, Inc. with
an invoice and satisfactory documentation promptly after incurring any such expense for which the prepayment amount is applied. 
  

	*	This scope of Work and Budget for Oncophage Registration in Russia relates only to work to be done by Lonverk Limited on behalf of Antigenics, Inc. in connection with the
registration of said drug in Russia. Registration of such drug in any other country, including, without limitation, [**], shall be addressed in a separate Scope of Work if agreed upon by Lonverk Limited and Antigenics, Inc. 

 

	(*a):	[**] 

  

	**	All Stock compensations is subject to the terms and conditions of the attached Appendix A 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

									
	ACKNOWLEDGED AND AGREED:	 		 		 	
			
	ANTIGENICS, INC.	 		 	Lonverk Limited
					
	BY:	 	 /s/ Kerry Wentworth
	 		 	BY:	 	 /s/ Yuri Y. Raifeld

	TITLE:	 	VP, Clinical Operations & Regulatory Affairs	 		 	TITLE:	 	CEO and President
	DATE:	 	August 14, 2007	 		 	DATE:	 	August 1, 2007

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 Appendix A 
 Terms and Conditions for Exhibit A-3 Milestone Payments 
 Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to them in the Agreement. 
 I. Milestone Achievement Notice. Lonverk Limited shall
provide written notice to the Company of the achievement of any Exhibit A-3 milestone (the “Milestone Achievement Notice”) within ten (10) days of Lonverk Limited’s achievement of such milestone. The Milestone Achievement
Notice shall (i) state the specific date when such milestone was completed (the “Milestone Achievement Date”) and (ii) include the customary restrictions and representations required, in the reasonable opinion of the
Company’s legal counsel, to comply with the rules and regulations promulgated by the United States Securities and Exchange Commission (the “SEC”) and other applicable laws, which, absent a change in such rules and regulations,
shall be substantially in the form of Annex I hereto. 
 II. Payment. The Company shall have [**] days from receipt of
Lonverk Limited’s Milestone Achievement Notice and valid invoice to pay any milestone amounts (“Milestone Payments”) in cash or through issuance of shares of the Company’s common stock, par value $0.01 per share (the
“Common Stock”), as applicable in accordance with Exhibit A-3, which [**] day period may be extended as mutually agreed to in writing by the Company and Lonverk Limited. 
 III. Price Per Share of Stock Issuance; Issuance Limit. Any Common Stock issued to Lonverk Limited as payment for achievement of any Exhibit A-3
milestone (“Milestone Stock”) shall be issued at a price per share equal to the closing price of the Common Stock on the Nasdaq Global Market (or such other market on which the Common Stock primarily trades) on such Milestone
Achievement Date, provided, however, that the aggregate number of shares issued as Milestone Stock shall not exceed an amount equal to 19.99% of the issued and outstanding Common Stock as of the effective date of Exhibit A-3 (the
“Issuance Limit”). If the number of shares to be issued would otherwise exceed the Issuance Limit, the Company shall pay Lonverk Limited an amount in cash equal to the product of (x) the number of shares in excess of the
Issuance Limit and (y) the closing price of the Common Stock on the Nasdaq Global Market (or such other market on which the Common Stock primarily trades) on the Milestone Achievement Date. 
 IV. Transfer Restrictions. 
 A.
Lonverk Limited covenants that any Milestone Stock will only be disposed of pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities Act of 1933, as amended (the “Securities
Act”), or pursuant to an available exemption from the registration requirements of the Securities Act, and in compliance with any applicable state securities laws. In connection with any transfer of Milestone Stock other than pursuant to an
effective registration statement or to 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 
the Company, or pursuant to Rule 144(k), the Company may require Lonverk Limited to provide to the Company an opinion of counsel selected by Lonverk Limited,
the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration under the Securities Act. 
 B. Lonverk Limited agrees to the imprinting, so long as is required by this Agreement, of the following legend on any certificate evidencing any of the
Milestone Stock: 
 THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY
LAWS. 
 C. Certificates evidencing Milestone Stock shall not be required to contain such legend or any other legend (i) while a
registration statement covering the resale of the Milestone Stock is effective under the Securities Act, if the holder provides the Company with a certificate that the sale complied with the requirements of the Securities Act, (ii) following
any sale of such Milestone Stock pursuant to Rule 144 if, prior to such sale, the holder provides the Company with a legal opinion (and the documents upon which the legal opinion is based) reasonably acceptable to the Company to the effect that the
Milestone Stock can be sold under Rule 144, (iii) if the holder provides the Company with a legal opinion (and the documents upon which the legal opinion is based) reasonably acceptable to the Company to the effect that the Milestone Stock is
eligible for sale under Rule 144(k), or (iv) if the holder provides the Company with a legal opinion (and the documents upon which the legal opinion is based) reasonably acceptable to the Company to the effect that the legend is not required
under applicable requirements of the Securities Act (including controlling judicial interpretations and pronouncements issued by the Staff of the SEC). 
 V. Reservation of Milestone Stock. The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Agreement in such amount as may be required to fulfill its
obligations to issue Milestone Stock. In the event that at any time the then authorized shares of Common Stock are insufficient for the Company to satisfy its obligations to issue such Milestone Stock, the Company shall promptly take such actions as
may be required to increase the number of authorized shares. 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 VI. Registration of Milestone Stock. 
 A. Upon a written request from Lonverk Limited, the Company will, as soon as reasonably practicable and in any event within [**] days of such written
request, file with the SEC a registration statement covering the resale of Milestone Stock (the “Registration Statement”). The Company will use commercially reasonable efforts to cause the Registration Statement to be declared
effective by the SEC as promptly as practical after the filing thereof, , and shall use commercially reasonable efforts to keep the Registration Statement continuously effective under the Securities Act until the earlier of (i) the date such
Milestone Stock covered by the Registration Statement have been sold or can be sold publicly under Rule 144(k) or (ii) the second anniversary of the issuance of such Milestone Stock covered by the Registration Statement. Notwithstanding the
above, Lonverk Limited may only exercise its rights under this Section VI(A), and the Company shall only be obligated to file and effect Registration Statements to cover Milestone Stock, [**] times during the period beginning with the Company’s
payment of the first Milestone Payment under Exhibit A-3 of this Agreement and ending on the date which is [**] days after the Company pays the final Milestone Payment under Exhibit A-3 of this Agreement. 
 B. Notwithstanding anything in this Agreement to the contrary, the Company may, by written notice to Lonverk Limited, suspend sales under a Registration
Statement after the effective date thereof and/or require that Lonverk Limited immediately cease the sale of shares of Common Stock pursuant thereto and/or defer the filing of any Registration Statement or amendment if the Board of Directors of the
Company determines in good faith, that the Company would, in the absence of such delay or suspension hereunder, be required under state or federal securities laws to disclose any corporate development, a potentially significant transaction or event
involving the Company, or any negotiations, discussions, or proposals directly relating thereto, in either case the disclosure of which would reasonably be expected to have a negative effect upon the Company or its stockholders; provided further,
that the Company may suspend the use of any prospectus included in the Registration Statement to the extent necessary (i) to amend the table of selling stockholders within the Registration Statement to reflect transfers of the Milestone Stock
by Lonverk Limited to its affiliates as permitted under Section IV(A) above or (ii) to amend the Registration Statement pursuant to the Company’s undertakings as set forth in the Registration Statement and in Item 512 of Regulation
S-K under the Securities Act. Upon receipt of such notice, Lonverk Limited shall immediately discontinue any sales of Milestone Stock pursuant to such registration until Lonverk Limited is advised in writing by the Company that the current
prospectus or amended prospectus included in the Registration Statement, as applicable, may be used. The Company’s rights under this Section VI(B) may be exercised for a period of no more than [**] business days at a time and not more than [**]
times in any twelve (12) month period. 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 C. The Company shall pay all fees and expenses incident to the performance of or compliance with Section
VI of this Appendix A by the Company, including without limitation (a) all registration and filing fees and expenses, including without limitation those related to filings with the SEC and the Nasdaq Global Market (or such other market on which
the Common Stock primarily trades), (b) printing expenses, (c) fees and disbursements of counsel for the Company, (d) fees and disbursements of counsel for Lonverk Limited not to exceed [**], (e) fees and expenses of all other
persons retained by the Company in connection with the consummation of the transactions contemplated by Section VI of this Appendix A, and (f) all listing fees to be paid by the Company to the Nasdaq Global Market (or such other market on which
the Common Stock primarily trades). 
 VII. Indemnification. For the purpose of this Section VI, the term “Registration
Statement” shall include any preliminary or final Prospectus, exhibit, supplement or amendment included in or relating to the Registration Statement referred to in Section VI above. 
 A. Indemnification by the Company. To the fullest extent permitted by law, the Company will indemnify, hold harmless and defend Lonverk Limited,
the directors, officers, partners, employees, agents, representatives of, and each person, if any, who controls Lonverk Limited within the meaning of the Securities Act or the Securities Exchange Act of 1934, as amended (the “Exchange
Act”) (each, a “Lonverk Indemnified Person”), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or reasonable
expenses, joint or several, (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or
governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon: 
 1. any untrue statement or alleged untrue statement of a
material fact in a Registration Statement or any post-effective amendment thereto or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading; or 

2. any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus if used prior to the effective date of
such Registration Statement, or contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to state therein any material fact
necessary to make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading; (the matters in the foregoing clauses (1) and (2) being, collectively,
“Violations”). 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 Subject to subsection C below, the Company shall reimburse Lonverk Limited and each such controlling
person, promptly as such reasonable expenses are incurred and are due and payable, for any legal fees or disbursements or other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding
anything to the contrary contained herein, the indemnification agreement contained in this subsection A: (i) shall not apply to a Claim arising out of or based upon a Violation relating to information furnished in writing to the Company by a
Lonverk Indemnified Person, to the extent such information is untrue in any material respect, or omits to state material information and, in either case, was provided expressly for use in connection with the preparation of the Registration
Statement, any such amendment thereof or supplement thereto or any preliminary or final prospectus; (ii) shall not be available to the extent such Claim is based on a failure to deliver or to cause to be delivered the prospectus made available
by the Company, if such prospectus was timely made available by the Company and (iii) shall not apply to amounts paid in settlement of any Claim, if such settlement is effected without the prior written consent of the Company. Such indemnity
shall remain in full force and effect regardless of any investigation made by or on behalf of the Lonverk Indemnified Person. 
 B.
Indemnification by Lonverk Limited. In connection with any Registration Statement in which Lonverk Limited is participating, by such participation Lonverk Limited agrees to indemnify, hold harmless and defend, to the same extent and in the
same manner as is set forth in subsection (A) above, the Company, each of its directors, each of its officers who signs the Registration Statement, each of the Company’s agents or representatives, and each person, if any, who controls the
Company within the meaning of the Securities Act or the Exchange Act (each an “Company Indemnified Party”), against any Claim or Indemnified Damages to which any of them may become subject, under the Securities Act, the Exchange Act
or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written information
furnished to the Company by Lonverk Limited for use in connection therewith; and, subject to subsection D below, Lonverk Limited will reimburse any legal or other reasonable expenses incurred by it in connection with investigating or defending any
such Claim; provided, however, that the indemnity agreement contained in this subsection B and the agreement with respect to contribution set forth below shall not apply to amounts paid in settlement of any Claim if such settlement is effected
without the prior written consent of Lonverk Limited; provided, further, however, that Lonverk Limited shall be liable under this subsection B for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to Lonverk
Limited as a result of the sale of the Milestone Stock pursuant to the Registration Statement giving rise to such liability. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Company

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 
Indemnified Party. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this subsection B with respect to
any prospectus shall not inure to the benefit of any Company Indemnified Party if the untrue statement or omission of material fact contained in the prospectus was corrected on a timely basis in the prospectus, as then amended or supplemented.

 C. Indemnification Procedure. Promptly after receipt by a Lonverk Indemnified Person or Company Indemnified Party under this
Section VII of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving a Claim, such Lonverk Indemnified Person or Company Indemnified Party shall, if a Claim in respect thereof is to be
made against any indemnifying party under this Section VII, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party
so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Lonverk Indemnified Person or the Company Indemnified Party, as
the case may be; provided, however, that a Lonverk Indemnified Person or Company Indemnified Party shall have the right to retain its own counsel with the fees and expenses of not more than one counsel for such Lonverk Indemnified Person or Company
Indemnified Party to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Lonverk Indemnified Person or Company Indemnified Party and the
indemnifying party would, under applicable ethical standards, be inappropriate due to conflicting interests between such Lonverk Indemnified Person or Company Indemnified Party in such proceeding. The Company Indemnified Party or Lonverk Indemnified
Person shall cooperate with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available to the Company
Indemnified Party or Lonverk Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Company Indemnified Party or Lonverk Indemnified Person apprised as to the status of the defense or any settlement
negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent. The failure to deliver written notice to the indemnifying party within a
reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Lonverk Indemnified Person or Company Indemnified Party under this Section VII, except to the extent that the indemnifying party
is prejudiced in its ability to defend such action. 
 D. Payments. The indemnification required by this Section VII shall be made by
periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or Indemnified Damages are incurred. The indemnity agreements contained herein shall be in addition to (i) any cause of
action or similar right of the Company Indemnified Party or Lonverk Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law. 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 E. Contribution. If for any reason the indemnification provided for in this Section VII is
unavailable to a Company Indemnified Party or a Lonverk Indemnified Party or insufficient to hold it harmless, other than as specified therein, then the indemnifying party shall contribute to the amount paid or payable by the Company Indemnified
Party or the Lonverk Indemnified Party, as applicable, as a result of Claims in such proportion as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant equitable
considerations. No person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act shall be entitled to contribution from any person not guilty of such fraudulent misrepresentation. In no event shall the
contribution obligation of a holder of Milestone Stock be greater in amount than the dollar amount of the proceeds (net of all expenses paid by such holder in connection with any claim relating to this subsection E and the amount of any damages such
holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission) received by it upon the sale of the Milestone Stock giving rise to such contribution obligation. 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 Annex I 
 FORM OF MILESTONE ACHIEVEMENT NOTICE 
 [DATE OF NOTICE] 
 Antigenics Inc. 
 162 Fifth Avenue, Suite 900 
 New York, NY 10010 
 Attn: Director of Development Operations and Resources 
 With a copy to: Vice President, Legal 
 Ladies and Gentlemen, 
 Reference is made to that certain Master Services Agreement, dated May 24, , 2007 (the “Agreement”), by and between Antigenics Inc. (the
“Company”) and Lonverk Limited (“Lonverk Limited”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Agreement. 
 Pursuant to Appendix A of the Agreement, Lonverk Limited hereby provides notice that the following milestone was achieved on
                         (the “Milestone Achievement Date”): 
 [INSERT MILESTONE] 
 Pursuant to Appendix A, Section I(ii)
of the Agreement, Lonverk Limited hereby represents, warrants and covenants to the Company as of the date hereof as follows: 
  

	 	1.	No Public Sale or Distribution. Lonverk Limited is acquiring any Milestone Stock in the ordinary course of business for its own account and not with a view towards, or for
resale in connection with, the public sale or distribution thereof, and Lonverk Limited does not have a present arrangement to effect any distribution of the Milestone Stock to or through any person or entity; provided, however, that by making the
representations herein, Lonverk Limited does not agree to hold any of the Milestone Stock for any minimum or other specific term and reserves the right to dispose of the Milestone Stock at any time in accordance with or pursuant to a registration
statement or an exemption under the Securities Act. 

  

	 	2.	Registration Statement Questionnaire. Lonverk Limited will complete within five (5) days of receipt from the Company, a Registration Statement questionnaire for use in
preparation of the Registration Statement, and the responses provided therein shall be true and correct in all material respects as of the date of issuance of the Milestone Stock and, unless such questionnaire has been otherwise amended and/or
supplemented, will be true and correct as of the effective date of the Registration Statement. 

	 	3.	Investor Status. At the time Lonverk Limited was offered the Milestone Stock, it was, and at the date hereof it is, an “accredited investor” as defined in Rule
501(a) under the Securities Act. Lonverk Limited is not a broker dealer registered under Section 15(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or a member of the NASD, Inc. or an entity engaged in the
business of being a broker dealer. Except as otherwise disclosed in writing to the Company on or prior to the date hereof, Lonverk Limited is not affiliated with any broker dealer registered under Section 15(a) of the Exchange Act, or a member
of the NASD, Inc. or an entity engaged in the business of being a broker dealer. 

  

	 	4.	Experience of Lonverk Limited. Lonverk Limited, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial
matters so as to be capable of evaluating the merits and risks of the prospective acquisition of the Milestone Stock, and has so evaluated the merits and risks of such acquisition. Lonverk Limited understands that it must bear the economic risk of
this acquisition of the Milestone Stock indefinitely, and is able to bear such risk and is able to afford a complete loss of such investment. 

  

	 	5.	Access to Information. Lonverk Limited acknowledges that it has been afforded: (i) the opportunity to ask such questions as it has deemed necessary of, and to receive
answers from, representatives of the Company concerning the terms and conditions of the offering of the Milestone Stock and the merits and risks of acquiring the Milestone Stock; (ii) access to information about the Company and its respective
financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its acquisition of Milestone Stock; and (iii) the opportunity to obtain such additional information that the Company
possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. 

  

	 	6.	No Governmental Review. Lonverk Limited understands that no United States federal or state agency or any other government or governmental agency has passed on or made any
recommendation or endorsement of the Milestone Stock or the fairness or suitability of the acquisition of the Milestone Stock nor have such authorities passed upon or endorsed the merits of the offering of the Milestone Stock.

  

	 	7.	No Conflicts. The acquisition of the Milestone Stock by Lonverk Limited will not (i) result in a violation of the organizational documents of Lonverk Limited,
(ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture
or instrument to which Lonverk Limited is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to Lonverk Limited, except in the case of clauses
(ii) and (iii) above, for such that are not material and do not otherwise affect the ability of Lonverk Limited to acquire the Milestone Stock. 

	 	8.	Restricted Securities. Lonverk Limited understands that the Milestone Stock is characterized as “restricted securities” under the U.S. federal securities laws
inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Securities Act only in certain
limited circumstances. 

  

	 	9.	Legends. It is understood that, except as provided in Appendix A, Section IV of the Agreement, certificates evidencing Milestone Stock may bear the legend set forth in
Appendix A, Section IV of the Agreement. 

  

	 	10.	No Legal, Tax or Investment Advice. Lonverk Limited understands that nothing in the Agreement or any other materials presented by or on behalf of the Company to Lonverk
Limited in connection with the payment of the Milestone Stock constitutes legal, tax or investment advice. Lonverk Limited has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in
connection with its acquisition of the Milestone Stock. 

  

			
	Regards,
		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

 Exhibit A-4 to Master Services Agreement 
 Scope of work: 
 The parties acknowledge and agree that Lonverk
Limited provided the Company with support Services relating to the [**] held in [**] from [**], 2007. The parties further acknowledge and agree that Lonverk Limited also provided support Services to the Company at the [**] meeting in [**] from [**],
2007, such Services included the following: 
  

	 	•	 	 [**] 

	 	•	 	 [**] 

	 	•	 	 [**] 

	 	•	 	 [**] 

	 	•	 	 [**] 

 Compensation: 
 In exchange for the performance of the Services herein, the Company has agreed to pay a total of [**] USD to Lonverk Limited. The parties acknowledge and agree that [**]
was paid pursuant to that certain letter agreement between the parties dated November 29, 2007, and that a payment of [**] was made to Lonverk Limited on [**]. The remaining [**] is due and payable upon execution on this Exhibit A-4.

 This Exhibit A-4 hereby memorializes the parties’ agreement and understanding with respect to the above Services. 
  

											
	ANTIGENICS Inc., a Delaware corporation	 	LONVERK LIMITED	 	
						
	By:	 	 /s/ Kerry Wentworth
	 		 	By:	 	 /s/ Yuri Raifeld
	 	
	Date:	 	1/31/08	 		 	Date:	 	Jan. 23, 2008	 	
	Typed Name:	 	Kerry Wentworth	 		 	Typed Name:	 	Yuri Raifeld	 	
	Title:	 	Vice President Clinical Operations & Regulatory Affairs	 		 	Title:	 	Director	 	

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 AMENDMENT – NUMBER ONE 
 MASTER SERVICES AGREEMENT 
 This Amendment Number One (this “Amendment 1”) is
entered into this 27th day of February, 2008 (the “Amendment 1 Effective Date”), by and between Antigenics Inc., a Delaware corporation having an address at 162 Fifth Avenue, Suite 900, New York, New York 10010 (the “Company”)
and Raifarm Limited, a Cyprus registered company, having an address at Cyprus- Limassol 3101, Griva Digeni, 84, Office 102, (each singularly a “Party” and collectively the “Parties”). Capitalized terms not otherwise defined shall
have the meaning set forth in the Agreement (as defined below). 
 WITNESSETH 
 WHEREAS, the Company and Raifarm, a Russian registered company, entered into a Master Services Agreement with an effective date of May 23, 2007, as
assigned to Lonverk Limited by that certain Assignment and Assumption Agreement between Raifarm and Lonverk Limited dated June 15, 2007 (collectively the “Agreement”); 
 WHEREAS, the Parties have included additional Services to be performed under the Agreement from time to time by executing Exhibits to the Agreement, and a
certain letter agreement dated November 29, 2007; 
 WHEREAS, Lonverk Limited changed its name to Raifarm Limited, and Raifarm Limited is
now the party to the Agreement; and 
 WHEREAS, the Parties now wish to amend the Agreement to, among other things, memorialize additional
Services performed prior to the Amendment 1 Effective Date and include further additional Services under an Exhibit A-5; 
 NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties covenant and agree as follows: 
  

	 	1.	All Services performed by or on behalf of Raifarm Limited prior to November 1, 2007, and all expenses associated with such Services, have been paid in full.

  

	 	2.	Exhibit A-5 constitutes additional Services to be performed by Raifarm Limited under the Agreement. The Parties anticipate that such Services shall be performed through June 30,
2008, unless extended or earlier terminated by the Company. 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

	 	3.	Notwithstanding the Amendment 1 Effective Date hereof, some of the Service activities under Exhibit A-5 began on November 1, 2007. However, the hours allocated under Exhibit
A-5 are for hours of Services from February 1, 2008 until completion. For such activities performed between November 1, 2007 through January 31, 2008, the Company shall compensate Raifarm Limited in the amount of [**] stock
compensation, subject to the terms and conditions of the attached Appendix 2. 

  

	 	4.	Appendix A of Exhibit A-3, Terms and Conditions for Exhibit A-3 Milestone Payments, is hereby amended by deleting the last sentence of Section VI.A., and replacing it with
the following: 

 Notwithstanding the above, Raifarm Limited may only exercise its rights under this Section VI(A), and the
Company shall only be obligated to file and effect Registration Statements to cover Milestone Stock, [**] times, such times to occur during the period beginning with the Company’s payment of the first common stock payment under Exhibit A-3 of
the Agreement and ending on the date which is [**] days after the Company pays the final common stock payment under Exhibit A-5 of the Agreement. 
 [SIGNATURE PAGE FOLLOWS] 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 IN WITNESS WHEREOF, the Parties each have caused this Amendment 1 to be executed by their duly respective
authorized representative as of the Amendment 1 Effective Date. 
  

			
	ANTIGENICS INC., a Delaware corporation
		
	By:	 	 /s/ Deanna M. Petersen

	Name:	 	Deanna M. Petersen
	Title:	 	Vice President, Business Development
	
	Raifarm Limited
		
	By:	 	 /s/ Yuri Raifeld

	Name:	 	Yuri Raifeld
	Title:	 	Director

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 Exhibit A-5 to Master Services Agreement 
 The Scope of Work and Budget entitled: “Plan of Actions for Antigenics Inc.” attached as Appendix 1 details the agreed to Services, fees, and
pass-through expenses under this Exhibit A-5. Upon reasonable request by the Company, Raifarm Limited agrees to negotiate in good faith to amend Appendix 1 to modify or add Services outlined on Appendix 1. In addition, the Company may terminate any
or all projects on the attached Appendix 1, or specific Services outlined therein, upon written notice to Raifarm Limited, with no further obligation to Raifarm Limited with respect to such Services, other than payment obligations accrued prior to
the date of Raifarm Limited’s receipt of such notice. 
 For Services performed under this Exhibit A-5 commencing on February 1, 2008, compensation
shall be paid as follows: 
  

	 	•	 	 A [**] USD retainer shall be paid within [**] business days of execution of this Exhibit A-5. This retainer may be used by Raifarm Limited to offset valid direct
costs pre-approved by the Company and actually incurred under this Exhibit A-5 prior to the reimbursement of such costs by the Company in accordance with the below paragraph. Upon completion of the Services under this Exhibit A-5, Raifarm Limited
shall reimburse the Company the balance of any retainer amount not utilized by Raifarm Limited for valid direct costs pre-approved by the Company and actually incurred under this Exhibit A-5 and previously reimbursed by the Company.

  

	 	•	 	 On a monthly basis, Raifarm Limited shall invoice the Company for all direct pass through costs contemplated in the attached Scope of Work and Budget, pre-approved
on a case by case basis by the Company, and actually incurred by Raifarm Limited in the course of performing the Services. The Company shall reimburse Raifarm Limited in USD, in accordance with Section 3.3 of the Agreement, provided that
Raifarm Limited submits to the Company receipts of all such costs with the applicable invoices. 

  

	 	•	 	 In addition, on a monthly basis, Raifarm Limited shall invoice the Company for fees for Services actually performed by Raifarm Limited in accordance with the
attached Scope of Work and Budget, and the Company shall reimburse Raifarm Limited, in accordance with Section 3.2 of the Agreement. All invoices shall detail out the project for which fees are being invoiced, the activities performed, and the
hours dedicated, consistent with the attached Scope of Work and Budget. Compensation for such Services shall be payable by the Company as follows: 

  

	 	•	 	 Up to [**] in fees per month shall be compensable in the form of USD. 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

	 	•	 	 The remaining balance owing in fees per month shall be payable in the form of common stock compensation, subject to the terms and conditions of the attached
Appendix 2. 

 In no event shall the total compensation under this Exhibit A-5, including all fees and expenses for any individual project
or all Services in the aggregate, exceed the amounts set forth in the Scope of Work and Budget attached without the prior written consent of the Company. 
  

	*	All stock Compensation is subject to the terms and conditions of the attached Appendix 2. 

 Acknowledged and Agreed: 
  

									
	ANTIGENICS Inc., a Delaware corporation	 		 	RAIFARM LIMITED
					
	By:	 	 /s/ Deanna M. Petersen
	 		 	By:	 	 /s/ Yuri Raifeld

	Date:	 	February 27, 2008	 		 	Date:	 	February 27, 2008
	Typed Name:	 	Deanna M. Petersen	 		 	Typed Name:	 	Yuri Raifeld
	Title:	 	Vice President, Business Development	 		 	Title:	 	Director

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

			
	 PLAN OF ACTIONS for
 Antigenics
Inc
	  	Appendix 1

  

									
	 	  	Quantity	 	Hours	 	Fee	 	AMOUNT
	 [**]
	  		 		 		 	
		  	[**]	 	[**]	 	[**]	 	[**]

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted
version of this agreement has been filed separately with the Commission. 
  

 Appendix 2 
 Terms and Conditions for Exhibit A-5 Common Stock Payments 
 Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to them in the Agreement. 
 I. Payment. The Company shall have [**] days from
receipt of Raifarm Limited’s valid invoice to pay any applicable common stock payments through issuance of shares of the Company’s common stock, par value $0.01 per share (the “Common Stock”), in accordance with Exhibit
A-5, which [**] day period may be extended as mutually agreed to in writing by the Company and Raifarm Limited. Notwithstanding the foregoing, the Company agrees to use its commercially reasonable best efforts issue Common Stock to pay Raifarm
Limited the common stock payments representing the $62,500 for past Services performed within two weeks of the signing of Exhibit A-5. 
 II.
Price Per Share of Stock Issuance; Issuance Limit. Any Common Stock issued to Raifarm Limited as payment under Exhibit A-5 (“Exhibit A-5 Stock”) shall be issued at a price per share equal to the Fair Market Value. The
“Fair Market Value” of the Exhibit A-5 Stock for purposes of calculating amounts owing to Raifarm Limited with respect to any given invoice shall be the average closing price for a share of Exhibit A-5 Stock on each trading day
during the applicable period of Services covered by the invoice, provided, however, that the aggregate number of shares issued under all Exhibits to the Agreement shall not exceed an amount equal to 19.99% of the issued and outstanding
Exhibit A-5 Stock as of the effective date of Exhibit A-3 (the “Issuance Limit”). If the number of shares to be issued would otherwise exceed the Issuance Limit, the Company shall pay Raifarm Limited an amount in cash equal to the
product of (x) the number of shares in excess of the Issuance Limit and (y) the Fair Market Value. 
 III. Transfer
Restrictions. 
 A. Raifarm Limited covenants that any Exhibit A-5 Stock will only be disposed of pursuant to an effective registration
statement under, and in compliance with the requirements of, the Securities Act of 1933, as amended (the “Securities Act”), or pursuant to an available exemption from the registration requirements of the Securities Act, and in
compliance with any applicable state securities laws. In connection with any transfer of Exhibit A-5 Stock other than pursuant to an effective registration statement or to the Company, or pursuant to Rule 144(k), the Company may require Raifarm
Limited to provide to the Company an opinion of counsel selected by Raifarm Limited, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration under the
Securities Act. 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 B. Raifarm Limited agrees to the imprinting, so long as is required by this Agreement, of the following
legend on any certificate evidencing any of the Exhibit A-5 Stock: 
 THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
COMPLIANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS. 
 C. Certificates evidencing Exhibit A-5 Stock shall not be required to
contain such legend or any other legend (i) while a registration statement covering the resale of the Exhibit A-5 Stock is effective under the Securities Act, if the holder provides the Company with a certificate that the sale complied with the
requirements of the Securities Act, (ii) following any sale of such Exhibit A-5 Stock pursuant to Rule 144 if, prior to such sale, the holder provides the Company with a legal opinion (and the documents upon which the legal opinion is based)
reasonably acceptable to the Company to the effect that the Exhibit A-5 Stock can be sold under Rule 144, (iii) if the holder provides the Company with a legal opinion (and the documents upon which the legal opinion is based) reasonably
acceptable to the Company to the effect that the Exhibit A-5 Stock is eligible for sale under Rule 144(k), or (iv) if the holder provides the Company with a legal opinion (and the documents upon which the legal opinion is based) reasonably
acceptable to the Company to the effect that the legend is not required under applicable requirements of the Securities Act (including controlling judicial interpretations and pronouncements issued by the Staff of the SEC). 
 IV. Reservation of Exhibit A-5 Stock. The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant
to the Agreement in such amount as may be required to fulfill its obligations to issue Exhibit A-5 Stock. In the event that at any time the then authorized shares of Common Stock are insufficient for the Company to satisfy its obligations to issue
such Exhibit A-5 Stock, the Company shall promptly take such actions as may be required to increase the number of authorized shares. 
 V.
Registration of Exhibit A-5 Stock. 
 A. Upon a written request from Raifarm Limited, the Company will, as soon as reasonably
practicable and in any event within [**] days of such written 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 
request (the “Filing Deadline”), file with the SEC a registration statement covering the resale of Exhibit A-5 Stock (the
“Registration Statement”). The Company will use commercially reasonable efforts to cause the Registration Statement to be declared effective by the SEC as promptly as practical after the filing thereof, and shall use commercially
reasonable efforts to keep the Registration Statement continuously effective under the Securities Act until the earlier of (i) the date such Exhibit A-5 Stock covered by the Registration Statement have been sold or can be sold publicly under
Rule 144(k) or (ii) the second anniversary of the issuance of such Exhibit A-5 Stock covered by the Registration Statement. Notwithstanding the above, Raifarm Limited may only exercise its rights under this Section V(A), and the Company shall
only be obligated to file and effect Registration Statements to cover Exhibit A-5 Stock and Milestone Stock (as defined in Exhibit A-3), [**] times, such times to be during the period beginning with the Company’s payment of the first common
stock payment under Exhibit A-3 of the Agreement and ending on the date which is [**] days after the Company pays the final common stock payment under Exhibit A-5 of the Agreement. 
 B. Notwithstanding anything in this Agreement to the contrary, the Company may, by written notice to Raifarm Limited, suspend sales under a Registration
Statement after the effective date thereof and/or require that Raifarm Limited immediately cease the sale of shares of Common Stock pursuant thereto and/or defer the filing of any Registration Statement or amendment if the Board of Directors of the
Company determines in good faith, that the Company would, in the absence of such delay or suspension hereunder, be required under state or federal securities laws to disclose any corporate development, a potentially significant transaction or event
involving the Company, or any negotiations, discussions, or proposals directly relating thereto, in either case the disclosure of which would reasonably be expected to have a negative effect upon the Company or its stockholders; provided further,
that the Company may suspend the use of any prospectus included in the Registration Statement to the extent necessary (i) to amend the table of selling stockholders within the Registration Statement to reflect transfers of the Exhibit A-5 Stock
by Raifarm Limited to its affiliates as permitted under Section III(A) above or (ii) to amend the Registration Statement pursuant to the Company’s undertakings as set forth in the Registration Statement and in Item 512 of Regulation
S-K under the Securities Act. Upon receipt of such notice, Raifarm Limited shall immediately discontinue any sales of Exhibit A-5 Stock pursuant to such registration until Raifarm Limited is advised in writing by the Company that the current
prospectus or amended prospectus included in the Registration Statement, as applicable, may be used. The Company’s rights under this Section V(B) may be exercised for a period of no more than [**] business days at a time and not more than [**]
times in any twelve (12) month period. 
 C. The Company shall pay all fees and expenses incident to the performance of or compliance
with Section V of this Appendix 2 by the Company, including without limitation (a) all registration and filing fees and expenses, including without limitation those related to filings with the SEC and the Nasdaq Global Market (or 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 
such other market on which the Common Stock primarily trades), (b) printing expenses, (c) fees and disbursements of counsel for the Company,
(d) fees and disbursements of counsel for Raifarm Limited not to exceed [**], (e) fees and expenses of all other persons retained by the Company in connection with the consummation of the transactions contemplated by Section V of this
Appendix 2, and (f) all listing fees to be paid by the Company to the Nasdaq Global Market (or such other market on which the Common Stock primarily trades). 
 VI. Indemnification. For the purpose of this Section VI, the term “Registration Statement” shall include any preliminary or final Prospectus, exhibit, supplement or amendment included in or relating
to the Registration Statement referred to in Section V above. 
 A. Indemnification by the Company. To the fullest extent permitted by
law, the Company will indemnify, hold harmless and defend Raifarm Limited, the directors, officers, partners, employees, agents, representatives of, and each person, if any, who controls Raifarm Limited within the meaning of the Securities Act or
the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (each, a “Lonverk Indemnified Person”), against any losses, claims, damages, liabilities, judgments, fines, penalties, charges, costs, reasonable
attorneys’ fees, amounts paid in settlement or reasonable expenses, joint or several, (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or
appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether pending or threatened (“Indemnified Damages”), to which any of them may become subject
insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: 
 1.
any untrue statement or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto or the omission or alleged omission to state a material fact required to be stated therein or necessary to make
the statements therein not misleading; or 
 2. any untrue statement or alleged untrue statement of a material fact contained in any
preliminary prospectus if used prior to the effective date of such Registration Statement, or contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the
omission or alleged omission to state therein any material fact necessary to make the statements made therein, in light of the circumstances under which the statements therein were made, not misleading; (the matters in the foregoing clauses
(1) and (2) being, collectively, “Violations”). 
 Subject to subsection C below, the Company shall reimburse
Raifarm Limited and each such controlling person, promptly as such reasonable expenses 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 
are incurred and are due and payable, for any legal fees or disbursements or other reasonable expenses incurred by them in connection with investigating or
defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this subsection A: (i) shall not apply to a Claim arising out of or based upon a Violation relating to information
furnished in writing to the Company by a Lonverk Indemnified Person, to the extent such information is untrue in any material respect, or omits to state material information and, in either case, was provided expressly for use in connection with the
preparation of the Registration Statement, any such amendment thereof or supplement thereto or any preliminary or final prospectus; (ii) shall not be available to the extent such Claim is based on a failure to deliver or to cause to be
delivered the prospectus made available by the Company, if such prospectus was timely made available by the Company and (iii) shall not apply to amounts paid in settlement of any Claim, if such settlement is effected without the prior written
consent of the Company. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of the Lonverk Indemnified Person. 
 B. Indemnification by Raifarm Limited. In connection with any Registration Statement in which Raifarm Limited is participating, by such participation Raifarm Limited agrees to indemnify, hold harmless and
defend, to the same extent and in the same manner as is set forth in subsection (A) above, the Company, each of its directors, each of its officers who signs the Registration Statement, each of the Company’s agents or representatives, and
each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act (each an “Company Indemnified Party”), against any Claim or Indemnified Damages to which any of them may become subject,
under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and
in conformity with written information furnished to the Company by Raifarm Limited for use in connection therewith; and, subject to subsection D below, Raifarm Limited will reimburse any legal or other reasonable expenses incurred by it in
connection with investigating or defending any such Claim; provided, however, that the indemnity agreement contained in this subsection B and the agreement with respect to contribution set forth below shall not apply to amounts paid in settlement of
any Claim if such settlement is effected without the prior written consent of Raifarm Limited; provided, further, however, that Raifarm Limited shall be liable under this subsection B for only that amount of a Claim or Indemnified Damages as does
not exceed the net proceeds to Raifarm Limited as a result of the sale of the Exhibit A-5 Stock pursuant to the Registration Statement giving rise to such liability. Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of such Company Indemnified Party. Notwithstanding anything to the contrary contained herein, the indemnification agreement contained in this subsection B with respect to any prospectus shall not inure to the
benefit of any Company Indemnified Party if the untrue statement or omission of material fact contained in the prospectus was corrected on a timely basis in the prospectus, as then amended or supplemented. 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 C. Indemnification Procedure. Promptly after receipt by a Lonverk Indemnified Person or Company
Indemnified Party under this Section VI of notice of the commencement of any action or proceeding (including any governmental action or proceeding) involving a Claim, such Lonverk Indemnified Person or Company Indemnified Party shall, if a Claim in
respect thereof is to be made against any indemnifying party under this Section VI, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party and the Lonverk Indemnified Person or the Company
Indemnified Party, as the case may be; provided, however, that a Lonverk Indemnified Person or Company Indemnified Party shall have the right to retain its own counsel with the fees and expenses of not more than one counsel for such Lonverk
Indemnified Person or Company Indemnified Party to be paid by the indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Lonverk Indemnified Person or Company
Indemnified Party and the indemnifying party would, under applicable ethical standards, be inappropriate due to conflicting interests between such Lonverk Indemnified Person or Company Indemnified Party in such proceeding. The Company Indemnified
Party or Lonverk Indemnified Person shall cooperate with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the indemnifying party all information
reasonably available to the Company Indemnified Party or Lonverk Indemnified Person which relates to such action or claim. The indemnifying party shall keep the Company Indemnified Party or Lonverk Indemnified Person apprised as to the status of the
defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without its prior written consent. The failure to deliver written notice to the
indemnifying party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Lonverk Indemnified Person or Company Indemnified Party under this Section VI, except to the extent
that the indemnifying party is prejudiced in its ability to defend such action. 
 D. Payments. The indemnification required by this
Section VI shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or Indemnified Damages are incurred. The indemnity agreements contained herein shall be in addition
to (i) any cause of action or similar right of the Company Indemnified Party or Lonverk Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant to the law.

 E. Contribution. If for any reason the indemnification provided for in this Section VI is unavailable to a Company Indemnified
Party or a Lonverk Indemnified 

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 
Party or insufficient to hold it harmless, other than as specified therein, then the indemnifying party shall contribute to the amount paid or payable by the
Company Indemnified Party or the Lonverk Indemnified Party, as applicable, as a result of Claims in such proportion as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, as well as any other relevant
equitable considerations. No person guilty of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act shall be entitled to contribution from any person not guilty of such fraudulent misrepresentation. In no event
shall the contribution obligation of a holder of Exhibit A-5 Stock be greater in amount than the dollar amount of the proceeds (net of all expenses paid by such holder in connection with any claim relating to this subsection E and the amount of any
damages such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission) received by it upon the sale of the Exhibit A-5 Stock giving rise to such contribution obligation.

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 March 18, 2008 
 Raifarm Ltd. 
 Griva Digenl, 84 
 Office 102 

Cyprus-Limassol 3101 
 Attention: Mr. Yuri Raifeld 
 Dear Mr. Raifeld: 
 Further to our discussions, this letter confirms our
agreement that Antigenics Inc. will advance Raifarm Ltd. the amount of two hundred thousand U.S. dollars ($200,000 USD) to cover Raifarm Ltd.’s operating costs and expenses to enable Raifarm Ltd. to continue performing its services in
connection with the Master Services Agreement between the parties dated May 24, 2007 (as amended) (the “MSA”). This payment is fully creditable against future payments that may become otherwise owing from Antigenics Inc. to
Raifarm Ltd. under the MSA. In the event that the MSA is terminated prior to Antigenics Inc. incurring payment obligations to Raifarm Ltd. of at least $200,000, then Raifarm Ltd. shall promptly reimburse Antigenics Inc. any uncredited amounts.
Raifarm Ltd. represents and warrants that it has and shall continue to perform all services on behalf of Antigenics Inc. in accordance with the provisions of the MSA. 
 Please confirm Raifarm Ltd’s agreement with the foregoing by signing this letter and returning one original to the attention of: Legal Department, Antigenics Inc., 3 Forbes Road, Lexington, MA 02421. 

 

	
	Regards,
	
	 /s/ Shalini Sharp

	Shalini Sharp
	Chief Financial Officer and Vice President
	
	Acknowledged and Agreed:
	
	 /s/ Yuri Raifeld

	Yuri Raifeld
	Raifarm Ltd.

 cc: Garo H. Armen, PhD 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 April 4, 2008 
 Raifarm
Ltd. 
 Griva Digenl, 84 
 Office 102 
 Cyprus-Limassol 3101 
 Attention: Mr. Yuri Raifeld 
  

			
	Re:	 	Clarification of March 18, 2008 Advance

 Dear Mr. Raifeld: 
 As you are aware, by letter dated March 18, 2008, Antigenics Inc. agreed to advance Raifarm Ltd. the amount of two hundred thousand U.S. dollars ($200,000 USD) (the “Advancement”) to cover Raifarm Ltd.’s operating costs
and expenses to enable Raifarm Ltd. to continue performing its services in connection with the Master Services Agreement between the parties dated May 24, 2007 (as amended) (the “MSA”). We also agreed that the Advancement was
fully creditable against future payments that may become otherwise owing from Antigenics Inc. to Raifarm Ltd. under the MSA. 
 Antigenics Inc. is in receipt
of your invoices dated March 31, 2008 and April 4, 2008. In consideration of the continuing operating costs and expenses anticipated in connection with future activities to be conducted by Raifarm Ltd. under the MSA, we are agreeing that
the Advancement will not be credited against the amounts owing under these invoices. The Advancement remains fully creditable against future cash payments that may become otherwise owing from Antigenics Inc. to Raifarm Ltd. under the MSA. Unless
otherwise elected by Antigenics Inc. in its sole discretion, the Advancement shall be fully creditable against all cash amounts owing under future invoices (including without limitation, cash compensation, reimbursements of costs and expenses,
and/or cash milestone payments) until the Advancement is fully reimbursed. 
 In the event that the MSA is terminated prior to Antigenics Inc. incurring
additional payment obligations to Raifarm Ltd. of at least $200,000 against which the Advancement is applied, then Raifarm Ltd. shall promptly reimburse Antigenics Inc. any uncredited amounts. 
 Raifarm Ltd. represents and warrants that it has and shall continue to perform all services on behalf of Antigenics Inc. in accordance with the provisions of the MSA.

  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission. 

 Please confirm Raifarm Ltd’s agreement with the foregoing by signing this letter and returning one original to the
attention of: Legal Department, Antigenics Inc., 3 Forbes Road, Lexington, MA 02421. 
  

	
	Regards,
	
	 /s/ Shalini Sharp

	Shalini Sharp
	Chief Financial Officer and Vice President
	
	Acknowledged and Agreed:
	
	 /s/ Yuri Raifeld

	Yuri Raifeld
	Raifarm Ltd.

 cc: Garo H. Armen, PhD 
  

 [**] = Portions of this agreement have been omitted pursuant to a confidential treatment request. An unredacted version
of this agreement has been filed separately with the Commission.

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