Document:

Exhibit
10.23

 

[***]
Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10). Such excluded information is not
material and the registrant customarily and actually treats as private and confidential. 

 

LICENSE
AGREEMENT

 

This
License Agreement (including any exhibits attached hereto, this “Agreement”) is made and is effective on the
Effective Date between Century Therapeutics, Inc., a Delaware corporation (“Century”) having an address at
54 West 21st Street, Suite 408, New York, NY 10010 USA and FUJIFILM Cellular Dynamics Inc., a Wisconsin corporation (“CDI”)
having an address at 525 Science Drive, Madison, WI 53711 USA. Century and CDI are each referred to as a “Party”
and collectively referred to as the “Parties.”

 

Recitals

 

WHEREAS,
Century is a biotechnology company interested in development and commercialization of cancer immunotherapy products based
on T cells, NK cells, dendritic cells, and macrophages derived from human iPSCs (as defined below) exclusively manufactured by
CDI, subject to the terms and conditions of this Agreement;

 

WHEREAS,
CDI possesses and controls certain patent rights related to the reprogramming of human somatic cells to iPSCs; and

 

WHEREAS,
Century wishes to obtain, and CDI wishes to grant to Century, a non- exclusive license under the Licensed Patent Rights (as
defined below) for the research, development and commercialization of the Licensed Products (as defined below) in the Territory
(as defined below) within the Field (as defined below), with the right to grant sublicenses as set forth herein, in all cases
subject to the terms and conditions of this Agreement;

 

NOW
THEREFORE, CDI and Century, intending to be legally bound, agree as follows:

 

Article
1 

Definitions

 

1.1         “Abandoned Indication” shall have the meaning set forth in Section 9.6

 

1.2         “Affiliate” means, with respect to a Party, any Person that controls, is controlled by, or is under common
control with such Party. For purposes of this Section 1.2, “control” shall refer to (a) in the case of a Person
that is a corporate entity, direct or indirect ownership of more than fifty percent (>50%) of the stock or shares having the
right to vote for the election of directors of such Person and (b) in the case of a Person that is not a corporate entity, the
possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of such Person,
whether through the ownership of voting securities, by contract or otherwise.

 

1.3         “Bankruptcy Code” has the meaning set forth in Section 2.7(a).

 

1.4         “BLA” means a Biologics License Application as defined in the United States Federal Food, Drug, and Cosmetic
Act and the regulations promulgated thereunder (21 C.F.R. §§ 314 et seq).

    1 

     

    

1.5           “Business Days” means a day that is not a Saturday, Sunday or a day on which banking institutions in Boston,
Massachusetts or Wisconsin are authorized by Law to remain closed.

 

1.6           “Calendar Year” means each successive period of twelve (12) months commencing on January 1 and ending on December
31; provided, however, that the first Calendar Year hereunder shall commence on the Effective Date and the final Calendar
Year hereunder shall end on the effective date of termination or expiration of this Agreement.

 

1.7           “Change of Control Event” means (i) the sale or disposition of all or substantially all the assets of the Century
or its direct or indirect parent corporation; (ii) the reorganization, merger, consolidation, or similar transaction involving
the Century or its direct or indirect parent corporation which results in the voting securities of such entity outstanding immediately
prior to that transaction ceasing to represent at least fifty percent (50%) of the combined voting power of the surviving entity
immediately after such transaction; (iii) the acquisition in one or more transactions by any “person”, as that term
is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
together with any of such person’s “affiliates” or “associates”, as such terms are used in the Exchange
Act, of fifty percent (50%) or more of the outstanding shares of the voting capital stock of the Century or its direct or indirect
parent corporation (excluding any employee benefit plan or related trust sponsored or maintained by that entity); or (iv) any
event or series of events in which the individuals who are the directors of the Century or its direct or indirect parent corporation
as of the Effective Date (“Incumbent Directors”) cease for any reason to constitute at least fifty percent
(50%) of the board of directors of that entity; provided, however, that if any new director is approved by a vote of at
least fifty percent (50%) of the Incumbent Directors, such new director will be considered an Incumbent Director.

 

1.8           “Collaboration Agreement” means a master collaboration agreement to be entered into the Parties pursuant to
Section 3.5.

 

1.9           “Commercialize” means to engage in any and all activities directed to transporting, storing, marketing, detailing,
promoting, distributing, importing, exporting, using, offering to sell or selling a product.

 

1.10         “Commercially Reasonable Best Efforts” means efforts consistent with the efforts and resources as commonly
used by a pharmaceutical or biotechnology company, as applicable, of comparable size and resources of such Party for a product
at a similar stage of research, development or commercialization having similar product characteristics at a similar stage in
its development or product life, taking into account relevant factors including patent coverage, relative safety and efficacy,
product profile, the competitiveness of the marketplace, the proprietary position of such product, the regulatory structure involved,
the market potential of such product and other relevant factors, including comparative technical, legal, scientific, medical and/or
economic factors, all as measured by the facts and circumstances in effect at the time when the relevant activities are conducted.

 

1.11         “Confidential
Information” means any confidential or proprietary information furnished by one Party (or its Affiliate) to the other Party
(or its Affiliate) in connection with this

    -2-

     

    

 

Agreement,  whether during the Term or prior to the execution hereof, provided that
such information is (a) specifically designated as confidential at the time of disclosure or confirmed as confidential within ten
(10) Business Days of disclosure, (b) reasonably identifiable by an individual familiar with the industry as confidential or
proprietary or (c) accompanied by correspondence indicating such information is exchanged in confidence between the Parties. Without
limiting the generality of the foregoing, Confidential Information includes:

 

(a)              
non-public information disclosed by Century to CDI in reports submitted by Century to CDI pursuant to Section 3.2;

 

(b)              
non-public information disclosed by Century to CDI relating to patent application prosecution files for the Licensed Patent Rights;

 

(c)              
any information that constitutes “Confidential Information” under that certain Mutual Non-disclosure Agreement, dated
February 14, 2018, by and between CDI, Fujifilm and Versant Venture Management, LLC (“Versant”) (which for
purposes of this Agreement, any “Confidential Information” of Versant shall be considered the Confidential Information
of Century hereunder);

 

(d)              
the terms of this Agreement and WARF License Agreement;

 

(e)              
the Development Plan and the Development Report;

 

(f)                  
the royalty accounting reports set forth in Section 4.1 (c)(iii); and

 

(g)              
non-public information in relation to the Licensed Patent Rights.

 

1.12         “Controlled” means, with respect to Patent Rights as such relates to a Party or its Affiliates, that such Party
or applicable Affiliate owns or has a license or sublicense to such Patent Rights and has the legal right to grant a license or
sublicense, including having received any necessary Third Party consents, to such Patent Rights to the other Party as provided
for in this Agreement, or has the ability to assign its right, title and interest in and to such Patent Rights to the other Party,
without violating the terms of any agreement or other arrangement with any Third Party. Notwithstanding the foregoing, with respect
to any Patent Right acquired or in- licensed for which a Party would be required to make payments to any Third Party in connection
with the license or access granted to the other Party under this Agreement, such Patent Right will only be treated as “Controlled”
by the licensing Party pursuant to the terms of Article 2.

 

1.13         “Derivative Materials” means Reprogrammed iPS Cell Derivative Materials.

 

1.14         “Development” and “Developments” means (i) Derivative Materials; (ii) any inventions, discoveries
or developments, whether patentable, that are conceived of, reduced to practice, discovered, tested or developed through the use
of the inventions of the Licensed Patent Rights, Reprogrammed iPS Cells or Derivative Materials; and (iii) any compositions, products
or other materials in which the Reprogrammed iPS Cells or Derivative Materials were used in any way in their discovery or testing.

    -3-

     

    

1.15         “Development Plan” has the meaning as set forth in Section 3.3 of Differentiation License Agreement.

 

1.16         “Development Report” means the written report of Century’s (or its Sublicensee(s)’) progress under
the Development Plan, or since the previously submitted Development Report, as provided under Section 3 having at least the information
specified on Exhibit C of this Agreement.

 

1.17         “Differentiation License Agreement” means a certain agreement entered into between the Parties on Effective
Date under which CDI grants an exclusive license to Century under certain patent rights and know-how related to human iPSC-derived
T cells, NK cells, dendritic cells, and macrophages under the terms and conditions set forth therein.

 

1.18         “DMF” means a drug master file and all equivalents, and related proprietary dossiers, in any country or jurisdiction
for the Licensed Products with appropriate information related to the reprogramming of human somatic cells to iPSCs for the regulatory
submission for the Licensed Product and the development of the Licensed Products.

 

1.19         “Effective Date” shall have the meaning set forth in Section 9 of this Agreement.

 

1.20         “European Union” or “E.U.” means the economic, scientific, and political organization of
member states known as the European Union, as its membership may be altered from time to time, and any successor thereto, and
includes, for purposes of this Agreement, Great Britain (whether Great Britain is a member of the E.U. or not).

 

1.21         “Exploit” or “Exploitation” shall mean, with respect to a particular Licensed Product, to
make, have made, use, have used, sell, have sold, offer for sale, have offered for sale, import, and have imported, including
to research, develop, Commercialize or otherwise exploit, such Licensed Product, provided, however “Exploit” or “Exploitation”
does not include any activities to make or have made human iPSC by reprogramming of human somatic cells into iPSC.

 

1.22         “FDA” means the United States Food and Drug Administration and any successor agency thereto.

 

1.23         “Field” means any cancer immunotherapeutic use in humans and subject to a prior written agreement between the
Parties pursuant to Section 10.6, any other use.

 

1.24         “Fujifilm” means Fujifilm Corporation.

 

1.25         “ICC” shall have the meaning set forth in Section 10.11(b).

 

1.26         “Indemnified Party” shall have the meaning set forth in Section 8.3.

 

1.27         “Indemnifying Party” shall have the meaning set forth in Section 8.3.

 

1.28         “Intellectual
Property” means ideas, concepts, discoveries, inventions, developments, Know-How, trade secrets, techniques, methodologies,
modifications, innovations,

    -4-

     

    

 

improvements,
writings, documentation, electronic code, data and rights (whether or not protectable under state, federal or foreign patent, trademark,
copyright or similar laws) or the like, whether or not written or otherwise fixed in any form or medium, regardless of the media on which
contained and whether or not patentable or copyrightable. 

 

1.29         “iPSC(s)” means human induced pluripotent stem cell(s), including T-cell- derived induced pluripotent stem
cell(s) (TiPSC).

 

1.30         “Know-How” means any and all commercial, technical, regulatory, scientific and other know-how and information,
knowledge, technology, materials (including biological and chemical materials), methods, processes, practices, standard operating
procedures, formulae, instructions, skills, techniques, procedures, assay protocols, experiences, ideas, technical assistance,
designs, drawings, assembly procedures, specifications, regulatory filings, data and results (including biological, chemical,
pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, regulatory, manufacturing
and quality control data and know-how, including study designs and protocols), whether or not confidential, proprietary or patentable,
in written, electronic or any other form.

 

1.31         “Law” means all laws, statutes, rules, codes, regulations, orders, judgments or ordinances applicable to a
Party, this Agreement or the activities contemplated hereunder.

 

1.32         “Licensed Patent Rights” means (i) those patent and patent applications listed on Exhibit B and (ii) Patent
Rights Owned by CDI at any time during the Term that are (a) related to reprogramming of human cells to iPSCs and (b) reasonably
essential to Exploit a Licensed Product.

 

1.33         “Licensed Product” means cancer immunotherapy products (for the treatment of cancer in humans) consisting of
cells that are or are modifications of T cells, NK cells, dendritic cells, and macrophages derived from human iPSC (including
TiPSC) exclusively manufactured by CDI. For the sake of clarity, such “modifications” exclude materials or substances
extracted, isolated from, or secreted by, such modified or unmodified cells.

 

1.34         “Non-Commercial Research Purposes” means use of the technology for internal academic research purposes or other
internal not-for-profit or scholarly purposes not involving the use of the technology to perform services for a fee or for the
production or manufacture of products for sale to third parties.

 

1.35         “Owned” means, with respect to patents, patent applications that a Person owns, solely or jointly, in each
case with the ability to grant a right, license, or access to such material, information or Intellectual Property right to another
Person on the terms and conditions set forth herein, without violating the terms of any agreement or other arrangement with any
of such Person’s Affiliates and/or Third Party(ies). “Ownership” has the correlative meaning.

 

1.36         “Patent
Rights” means with respect to any patents or patent applications, (a) such patents or patent applications; (b) patents
issuing from such patent applications; (c) substitutions, divisionals, renewals, continuations or continuations-in-part (only
to the extent of claims that are entitled to the priority date of the parent application); (d) patents of addition, restorations,
extensions, supplementary protection certificates, registration or confirmation patents, patents

    -5-

     

    

 

resulting from post-grant proceedings, re-issues and re-examinations; (e) other patents or patent applications claiming and entitled
to claim priority to (i) such patents and patent applications specified in (a), (b), (c) or (d) or (ii) any patent or patent
application from which such patents and patent applications specified in (a), (b), (c) or (d) claims and is entitled to claim
priority; (f) all rights of priority attendant to such listed in (a) through (e); and (g) in each case of such patents and patent
applications described in (a) through (e), including all counterparts and foreign equivalents thereof filed in any country,
territory or jurisdiction in the world.

 

1.37         “Person” means any natural person or any corporation, company, partnership, joint venture, firm or other entity,
including a Party, or any government or agency or political subdivision thereof.

 

1.38         “Regulatory Approval” means, with respect to a country or territory, the approvals (including any applicable
governmental price and reimbursement approvals), licenses, registrations or authorizations of Regulatory Authorities necessary
for the commercialization of a pharmaceutical product in such country or territory, including, as applicable, approval of an BLA
or comparable filing in the United States or approval of a comparable filing in any other country or jurisdiction.

 

1.39         “Regulatory Authority” means a federal, national, multinational, state, provincial or local regulatory agency,
department, bureau or other governmental entity with authority over the testing, manufacture, use, storage, import, promotion,
marketing or sale of a product in the applicable country.

 

1.40         “Reprogrammed iPS Cells” means cells obtained or created by changing the state of a cell to a state of pluripotency
using methods or materials that would otherwise constitute infringement of any of the claims of the Licensed Patent Rights.

 

1.41         “Reprogrammed iPS Cell Derivative Materials” means any compositions or materials derived from the use of Reprogrammed
iPS Cells, or produced by the use of Reprogrammed iPS Cells, or which incorporate wholly or partially Reprogrammed iPS Cells,
including without limitation, fully or partially differentiated cells or cell lines derived from Reprogrammed iPS Cells.

 

1.42         “SEC Filing” shall have the meaning set forth in Section 6.4(d).

 

1.43         “Selling
Price” means (a) in the case where Century transacts a sale with an end user (including an end user that is an
Affiliate), the invoice price to the end user of Licensed Products (regardless of uncollectible accounts) less any shipping
costs, allowances because of returned Licensed Products, or sales taxes; (b) in the case where Century transacts a sale with
a Third Party or an Affiliate for the purposes of enabling the Third Party or Affiliate to directly or indirectly resell or
distribute Licensed Products and where Century does not have the ability to know the price an end user pays to Third Party or
Affiliate, the average invoice price to the end user of that type of Licensed Product during the applicable calendar quarter
(regardless of uncollectible accounts) less any shipping costs, allowances because of returned Licensed Products, or sales
taxes; and (c) in the case where Century transacts a sale with a Third Party or an Affiliate for the purposes of enabling the
Third Party or Affiliate to directly or indirectly resell 

    -6-

     

    

 

or distribute Licensed Products and where Century does have the
ability to know the price an end user pays to Third Party or Affiliate, the invoice price to the end user of Licensed
Products (regardless of uncollectible accounts) less any shipping costs, allowances because of returned Licensed Products, or
sales taxes. The “Selling Price” for a Licensed Product that is transferred to a Third Party without charge or at
a discount, e.g., for promotional purposes, will be the average invoice price to the end user of that type of Licensed
Product during the applicable calendar quarter.

 

1.44         “Signing Date” means the date on which an authorized representative of either Party last executed this Agreement.

 

1.45         “Sublicensee” shall have the meaning set forth in Section 2.3(a).

 

1.46         “Term” means the term of this Agreement as provided in Section 9.1.

 

1.47         “Territory” means worldwide, excluding Japan and any country(ies) eliminated from the Territory pursuant to
Section 9.6.

 

1.48         “Third Party” means any Person other than a Party or any of its Affiliates.

 

1.49         “United States” or “U.S.” means the United States of America and its territories and possessions
(including the District of Columbia and Puerto Rico).

 

1.50         “WARF License Agreement” means the License Agreement, dated as of June 6, 2012, between Wisconsin Alumni Research
Foundation (“WARF”) and CDI, as amended.

 

1.51         “WARF Patent Rights” means the Licensed Patent Rights that are licensed to CDI by WARF under the WARF License
Agreement.

 

Article
2

 License Grant; Technology Transfer

 

2.1           License
Grants to Century. Subject to the terms and conditions of this Agreement and WARF License Agreement, CDI hereby grants to Century,
a non-exclusive, non- transferable (except in accordance with Section 10.3), royalty bearing, sublicensable (with limitation as
set forth in Section 2.3(a)) license under the Licensed Patent Rights to Exploit the Licensed Products within the Field in the
Territory. Notwithstanding any term or implication herein to the contrary and for the sake of clarity, the foregoing license excludes
any license or right under the Licensed Patent Rights (i) to manufacture, have manufactured, sell, have sold, offer for sale or have
offered for sale any product or service to any Third Party in furtherance of any research or development of a Licensed Product other
than a Licensed Product that is being researched, developed or Commercialized by or on behalf of Century or its Affiliates or Sublicensees,
or (ii) to grant any sublicense to any Third Party to manufacture, have manufactured, sell, have sold, offer for sale or have offered
for sale any product or service to any other Third Party in furtherance of any research or development of a Licensed Product other than
a Licensed Product that that is being researched, developed or commercialized by or on behalf of

    -7-

     

    

 

 Century or its Affiliates or
Sublicensees. License Grants to CDI. Subject to the terms and conditions of this Agreement, Century (on behalf of
itself and its Affiliates) hereby grants to, and will require its Sublicensee(s) to grant, to CDI the following licenses and
options:

 

(a)           a world-wide, non-exclusive, royalty-free, irrevocable, paid-up license, with the right to grant sublicenses, to WARF, the University
of Wisconsin, the WiCell Research Institute and the Morgridge Institute for Research, to make, have made, use and otherwise practice
Developments for Non-Commercial Research Purposes in organizations associated with either WARF or the University of Wisconsin;

 

(b)            a non-exclusive, non-transferable (except in accordance with Section 10.3), fully paid-up, sublicensable (with the ability
to sublicense through multiple tiers) license (i) to make, have made, use and otherwise practice Developments made by Century
or its Affiliates or Sublicensees in the Field outside the Territory or within the Territory in connection with Abandoned Indication
and (ii) to practice Developments to manufacture the Licensed Products in the Field worldwide; and

 

(c)            an option to obtain a non-exclusive, non-transferable (except in accordance with Section 10.3), sublicensable (with the
ability to sublicense through multiple tiers) license, under Intellectual Property Rights that are owned or controlled by a Third
Party and licensed to Century or its Affiliate to Exploit the Licensed Products in the Field outside the Territory or within the
Territory in connection with the Abandoned Indication, provided, however, in the event Century or its Affiliates or Subcontractors
are required to pay royalty for its sublicense to CDI and its Sublicensees the Parties will agree on an equitable apportionment
of any royalty between the Parties to reflect the fair value attributable to the use of such Intellectual Property Rights for
the Exploitation of the Licensed Products in each Party’s territory.

 

2.3.          Sublicensing.

 

(a)            Subject to the terms and conditions of this Agreement and WARF License Agreement, Century shall have the right to grant sublicenses
under the license granted to it under Section 2.1 to Affiliates and Third Parties (each, a “Sublicensee”)
through multiple tiers; provided that any such sublicense shall only be through one tier solely, if such sublicense includes
a sublicense of Licensed Patent Rights under the WARF License Agreement and the terms of such license require the consent of WARF
thereunder for Sublicensee to have further rights to sublicense; provided further that any sublicense shall be pursuant
to a written agreement and each sublicense shall be subject to terms and conditions no less restrictive than those set forth in
this Agreement. For the avoidance of doubt, each sublicense terminates automatically upon the termination of this Agreement.

 

(b)            Century shall have the same responsibility for the activities of any Sublicensee as if the activities were directly those of
Century. Century shall be responsible for each of its Sublicensees complying with all obligations of Century under this
Agreement that are applicable to sublicenses and any breach by a Sublicensee under any such sublicense shall be deemed to be
a breach of Century under this Agreement. Century will provide CDI with the name, contact information and address of each
Sublicensee, as well as information regarding the number of full-time employees of any such Sublicensee. Century will provide
to CDI copies of

    -8-

     

    

 

 each sublicense agreement and any amendments thereto within thirty (30) days of executing a sublicense. If
such sublicense includes a sublicense of Licensed Patent Rights under the WARF License Agreement and the terms thereof
promptly and without condition from such licensor its consent to such sublicense and shall provide Century with copies of all
communications with or from WARF promptly after transmission or receipt, as applicable, related to such efforts to obtain
consent.

 

(c)            If this Agreement is terminated for any reason other than by Century pursuant to Section 9.6, then, at the option of any
Sublicensee not in default of the applicable sublicense (or any provision of this Agreement applicable to such Sublicensee), a
terminating Party shall use Commercially Best Efforts to execute a possible direct license arrangement with such Sublicensee under,
and subject to the terms and conditions of, this Agreement.

 

2.4           Technical Support. CDI shall, or shall cause its Affiliates to, use Commercially Reasonable Best Efforts to provide Century
(including Century’s Affiliates) with the reasonably necessary technical support where reasonably necessary to allow Century
to Exploit the Licensed Products in the Field in the Territory pursuant to this Agreement. Further, CDI expressly agrees that
Century shall have the right to reference any DMF as required by a Regulatory Authority maintained, or that at any time during
the Term becomes maintained, by CDI in the ordinary course of business insofar as such DMF is necessary in connection with obtaining
any Regulatory Approval by Century or its Sublicensees for Licensed Products in the Field in the Territory. For clarification,
CDI may establish and maintain DMF with appropriate information for the regulatory submissions of Century, and its Sublicensees
for the Licensed Product and the Development of the Licensed Product in the Territory. Century expressly agrees that CDI shall
have the right to reference any DMF that are maintained, or that at any time during the Term becomes maintained, by Century and
its Sublicensees in the ordinary course of business relating to the Developments insofar as such information is necessary in connection
with obtaining any Regulatory Approval for Licensed Products in the Field outside the Territory.

 

2.5           No
Implied License. Except as explicitly set forth in this Agreement, neither Party shall acquire any license, intellectual property
interest or other rights, by implication or otherwise, in any Know-How or under any Patent Rights Owned or Controlled by the other
Party or its Affiliates.

 

2.6           WARF License Agreement.

 

(a)             Limitations
under the WARF License Agreement. The license set forth in Section 2.1 includes sublicenses under the WARF License Agreement.
CDI has, prior to the Effective Date, provided Century with copies of the WARF License Agreement (including all amendments). Century
acknowledges that its rights with respect to the WARF Patent Rights are subject to the terms and conditions of the WARF License Agreement,
including the field limitations and rights reserved to Third Parties. Century acknowledges that the license grant to CDI under the WARF
License Agreement (A) is limited to products or services that are used (x) as research tools in drug discovery and development of the
Licensed Products of Century or its Sublicensees, and (y) in the treatment of disease in humans, as applicable, and, therefore, that
the license grant to Century under Section 2.1 with respect to the WARF Patent Rights in-licensed by CDI pursuant to the WARF
License Agreement shall be only in such fields as to CDI’s rights 

    -9-

     

    

 

to such WARF Patent Rights, and (B) such license is subject to rights retained by the
U.S. Government and the license grant to Century under Section 2.1 with respect to the Licensed Patent Rights
in-licensed by CDI pursuant to the WARF License Agreement is subject to the provisions of 37 C.F.R. Part 401 of the U.S.
Federal Regulations.

 

(b)         CDI hereby acknowledges and agrees to the extent permitted by applicable law that CDI will not [***].

 

(c)         Covenants Regarding the WARF License Agreements CDI agrees that during the Term:

 

(i)            CDI shall not modify, amend or terminate any of its rights or obligations under the WARF License Agreement to Century’s
disadvantage without Century’s prior written consent which consent shall not be unreasonably withhold, delayed or conditioned.
CDI shall provide Century with a copy of any modified or amended the WARF License Agreement;

 

(ii)            To the extent CDI has not disclosed to Century CDI’s non- compliance with the WARF License Agreement, as of the Effective
Date, CDI shall promptly notify Century if CDI knows or reasonably believes that it will not be able to comply with the terms
and conditions of the WARF License Agreement;

 

(iii)             CDI shall furnish Century with copies of all notices received by CDI relating to any alleged breach by CDI under the WARF License
Agreement within ten (10) Business Days after CDI’s receipt thereof; in addition, if CDI should at any time breach an the
WARF License Agreement or become unable to timely perform its obligations thereunder, CDI shall immediately notify Century unless
Century has not been advised of similar types of CDI’s non-performance of the WARF License Agreement;

 

(iv)             If
CDI cannot cure or otherwise resolve any alleged breach under the WARF License Agreement, CDI shall so notify Century within [***]
of CDI’s first becoming aware of such inability, which shall not be less than [***] prior to the expiration
of the cure period under the WARF License Agreement; provided that CDI shall use commercially reasonable efforts to cure or
otherwise resolve any such alleged breach; and

 

(v)            Notwithstanding
any provision to the contrary CDI shall reserve its rights to terminate the WARF License Agreement with due cause at any
time during the 

    -10-

     

    

 

Term in which event CDI shall use Commercially Reasonable Best Efforts to cause WARF to enter into a direct
license with Century under the terms no less favorable than those under this Agreement. CDI shall not be held responsible for
terminating the WARF License Agreement so long as Century may enter into a comparable direct license with WARF with the
assistance of CDI.

 

2.7           Section
365(n) of the Bankruptcy Code

 

(a)     
All rights and licenses granted under or pursuant to any section of this Agreement are and will otherwise be deemed to be for
purposes of Section 365(n) of the United States Bankruptcy Code (Title 11, U.S. Code), as amended or any comparable Law outside
the United States (the “Bankruptcy Code”), licenses of rights to “intellectual property” as defined
in Section 101(35A) of the Bankruptcy Code. Each licensing Party agrees that a licensed Party, as licensee of such rights under
this Agreement, will retain and may fully exercise all of its rights and elections under the Bankruptcy Code or any other provisions
of Law outside the United States that provide similar protection for “intellectual property.” Any agreement supplemental
hereto will be deemed to be “agreements supplementary to” this Agreement for purposes of Section 365(n) of the Bankruptcy
Code.

 

Article
3 

Development,
Commercialization and Manufacture

 

3.1           Development and Commercialization. Century shall be solely responsible for developing, preparing any and all regulatory
filings for, obtaining Regulatory Approval of, and Commercializing Licensed Products in the Field and in the Territory, in its
sole discretion.

 

3.2           Diligence.
Century intends to develop the Licensed Products in the Field in the Territory throughout the Term of this Agreement. Century shall use
Commercially Reasonable Best Efforts, or shall cause one or more of its Sublicensees to use Commercially Reasonable Best Efforts, to
continue to pursue the development of Licensed Product [***].

 

3.3           Development Reports.

 

(a)          Century
shall provide Development Report that summarizes the status of research, development and Commercialization efforts, of Century
and its Sublicensees and activities with respect to Licensed Products, during each semi-annual period to CDI on or before thirty
(30) days from the end of corresponding semi-annual period ending June 30 and December 31 for which a report is due, and will
set forth in each Development Report sufficient detail to enable CDI (and WARF) to ascertain progress of Century and its Sublicensees
toward the requirements of the Development Plan. CDI and WARF reserves the right to audit records of Century and its Sublicensees
relating to the development activities required under this Agreement and the WARF License Agreement. Such record keeping and audit
procedures will be subject to the procedures and restrictions set forth in Section 6 for auditing the financial records of Century
and its Sublicensees.

    -11-

     

    

(b)         Century acknowledges that any failure by Century or its Sublicensees, to reasonably implement the Development Report, or to make
timely submission to CDI and Century of any Development Report, or the providing of any false information to CDI and WARF regarding
development activities of Century and its Sublicensees hereunder, will be a Material Breach of the terms of this Agreement, subject
to the right to cure under Section 9.2.

 

(c)         Century further agrees to and warrants that it or its Sublicensees will reach the following “Milestones” with respect
to development of Licensed Product:

 

(i)             [***]; and

 

(ii)            [***].

 

3.4           Manufacture.

 

(a)         During the Term and subject to this Section 3.4. CDI (and its Affiliates) shall have the exclusive right to manufacture
and supply iPSC to Century for [***] beginning on the Effective Date. If at any time following [***] of the
Effective Date, Century wishes to have a Third Party manufacture human iPSC (including TiPSC), Century shall discuss with CDI
in good faith the possibility of using such Third Party to manufacture human iPSC (including TiPSC), provided that Century
shall have the sole discretion to determine whether to use CDI or such Third Party for such manufacture of iPSC (including TiPSC).
In the event that Century elects to use a Third Party manufacturer, CDI hereby agrees to amend the terms of this Agreement without
delay to provide Century, its Affiliates and Sublicensees with the necessary licenses under the Licensed Patent Rights for the
Exploitation of such products, including amending the definition of “Licensed Product” to remove the limitation that
iPSC be exclusive manufactured by CDI. The Parties shall negotiate in good faith as soon as reasonably practical the terms of
a manufacturing and supply agreement under which CDI or its Affiliate would itself manufacture and supply iPSC (a “Supply
Agreement”) and the terms of a quality agreement which would provide the responsibilities of Century and CDI or its
Affiliates for quality assurance of human iPSC (including TiPSC) and the Licensed Products referenced in the Supply Agreement
(a “Quality Agreement”).

 

(b)         The Supply Agreement and Quality Agreement shall each contain terms and conditions that are commercially reasonable given the
terms of the Parties’ collaboration under this Agreement, including manufacturing capacity, quantity, forecasting, timeliness
of delivery, quality, cost, and failure of supply that are consistent with prevailing industry standards for Third Party contract
manufacturing agreements for comparable products.

 

(c)         The Supply Agreement shall provide:

 

(i)             CDI’s
(and its Affiliates) exclusive right to manufacture and supply human iPSC (including TiPSC) to Century and its Sublicensees:

    -12-

     

    

(ii)            CDI’s (and its Affiliates or contractors) obligations to perform manufacturing activities in a good scientific manner and
in compliance in all material respects with all applicable Law; and

 

(iii)             Century’s ability to manufacture by itself or through its Affiliate, or to grant to a Third Party manufacturer the right
to manufacture, the Licensed Products in minimal quantities necessary to prevent a supply interruption in the event of a non-supply
event upon Century’s request.

 

3.5           Collaboration
Agreement

 

(a)         Within two (2) months from the Effective Date the Parties will use Commercially Reasonable Best Efforts to enter into a Collaboration
Agreement, which shall include among other things the terms set forth on Exhibit A as well as other customary terms. Century acknowledges
that any material breach by Century of the Collaboration Agreement, including its failure to pay consideration under the Collaboration
Agreement will constitute a Material Breach, subject to the termination right under Section 9.2(c).

 

(b)         If the Collaboration Agreement is not entered into between the Parties within two (2) months from the Effective Date for any reasons,
Century shall pay CDI the amount of [***] which is non-refundable and creditable towards any and all amounts due under the Collaboration
Agreement, which such [***] amount shall be due in three (3) equal installments according to the following schedule:

 

(i)             on the day that is two (2) month after the Effective Date;

 

(ii)            on the first anniversary of the payment day set forth in clause (i); and

 

(iii)             on the second anniversary of the payment day set forth in clause (ii).

 

(c)         Century acknowledges that any failure by Century or its Sublicensees, of the payment set forth in Section 3.5(b) will constitutes
a Material Breach, subject to the termination right under Section 9.2(c).

 

Article
4 

Consideration,
Record Keeping

 

4.1           Consideration.

 

(a)         WARF Royalties.

 

(i)            As
consideration for the license and other rights granted to Century hereunder, Century shall pay to CDI royalties required pursuant to
the terms of the WARF License Agreement with respect to any Licensed Product that is

    -13-

     

    

 

covered by a WARF Patent Right as follows: [***] on the Selling Price of all Licensed Products. The royalty obligations of Century
shall commence on first commercial sale of a Licensed Product and continue on a Licensed Product-by- Licensed Product and
country-by-country basis, until the expiration or termination of the last to expire WARF Patent Right that covers such Licensed
Product in such country. Upon expiration of the royalty obligations hereunder with respect to the WARF Patent Rights, the license
granted to Century under Section 2.1 with respect to the WARF Patent Rights shall be become fully paid-up, perpetual and
irrevocable.

 

(ii)             If Century is required to make payments to a Third Party for a license or similar right to such Third Party’s patents, in
the absence of which right or license Century could not legally make, use or sell Licensed Products, then the royalty payable
under this Section will be reduced by [***] for each additional [***] of royalties payable to such Third Parties on that Licensed
Product; provided, however, that the adjusted royalty rate to CDI will be no less than [***] of the applicable royalty
rate payable to CDI under this Section 4.1(a)(ii) of this Agreement for such Licensed Products, even in cases where Section
4.1(b)(iii) below also applies.

 

(iii)            In the event that the sale, lease, or other transfer by Century of Licensed Products under this Agreement also requires payment
to CDI of royalties under any other agreement between CDI and Century, the cumulative earned royalties owed to CDI for that Licensed
Product under all such agreements will not exceed the single highest royalty as set forth in those agreements. Century will pay
to CDI royalties under all such agreements individually and on a pro rata basis. (For example, if Century owes to CDI a
[***] earned royalty under this Agreement and a [***] earned royalty under a separate agreement, the cumulative royalties owed
to CDI will be [***], but will be paid proportionately under each agreement in payments of [***] under this Agreement and [***]
on the other.)

 

(iv)            In cases where Century and CDI agree that Century may develop and Commercialize cancer immunotherapy product based on human iPSC
manufactured by a Third Party other than CDI (or its Affiliate) and Century Exploits such product that is covered by the Licensed
Patent Rights, Century shall pay to CDI royalties of [***] on the Selling Price of such products. In such case, such adjusted
royalty rate to CDI as provided in Section 4.1(b)(ii) above will not apply to the rate of [***].

 

(b)         
WARF Milestone Fees.

 

As
additional consideration for the license and other rights granted to Century hereunder, Century shall pay to CDI the amounts detailed
below within twenty (20) days of the achievement of the corresponding milestones for each Licensed Product developed by or for
Century or its Sublicensees in the Field in the Territory as set forth in Section 3.3(c).

 

	Milestone	WARF
    Milestone Fee

    -14-

     

    

 

	Filing
    an Investigational New Drug application (or an equivalent) for a Licensed Product by Century or its Sublicensees with the
    FDA	[***]
	File
    a BLA (or an equivalent) for a Licensed Product by Century or its Sublicensees with the FDA	[***]
	Achievement
    by Century or its Sublicensees of [***] in total Selling Price on a single Calendar Year for each Licensed Product.	[***]

 

(c)         Accounting: Payments.

 

(i)             Amounts owing to CDI under Section 4.1(a) of this Agreement will be paid on a quarterly basis, with such amounts due and
received by CDI on or before the thirtieth (30th) day following the end of the calendar quarter ending on March 31,
June 30, September 30 or December 31 in which such amounts were earned. The balance of any amounts which remain unpaid more than
thirty (30) days after they are due to CDI will accrue interest until paid at the rate of the lesser of one percent (1%) per month
or the maximum amount allowed under applicable law. However, in no event will this interest provision be construed as a grant
of permission for any payment delays.

 

(ii)            Except as otherwise directed, all amounts owing to CDI under this Agreement will be paid in U.S. dollars. All royalties owing
with respect to the Selling Prices are stated in currencies other than U.S. dollars will be converted at the rate shown in the
Federal Reserve Noon Valuation - Value of Foreign Currencies on the day preceding the payment. All payments due under this Agreement
will be made without deduction for taxes, assessments, or other charges of any kind which may be imposed on CDI or WARF with respect
to any amounts payable to CDI or WARF pursuant to this Agreement. All such taxes, assessments, or other charges will be assumed
by Century or its Sublicensee(s). If any deduction or withholding is required by law, Century shall pay to CDI such amount as
will, after the deduction or withholding has been made, leave CDI with the same amount as it would have been entitled to receive
without such deduction or withholding.

 

(iii)             A full accounting showing how any amounts owing to CDI under Section 4.1(b) have been calculated will be submitted to CDI
on the date of each such payment. Such accounting will be on a per-country and Licensed Product line, model or tradename basis
and will be summarized on the form shown in Exhibit C of this Agreement. In the event no payment is owed to CDI, a statement setting
forth that fact will be supplied to CDI.

 

4.2           Recordkeeping.

 

(a)         Century
and its Sublicensee(s) will keep books and records sufficient to verify the accuracy and completeness of Century’s, and its Sublicensee(s)’s
accounting referred to above, including without limitation inventory, purchase and invoice records relating to any Licensed Products
sold under this Agreement. In addition, Century will keep books and records sufficient to verify the accuracy and completeness of Century’s
Development Report. Such documentation may include, but is not limited to, invoices for studies, laboratory notebooks, 

    -15-

     

    

 

internal job cost records,
and filings made to the Internal Revenue Department to obtain tax credit, if available, for research and development. All
such books and records will be preserved for a period not less than six (6) years after they are created during and after the
Term of this Agreement.

 

(b)         Century and its Sublicensee(s) will take all steps reasonably necessary so that CDI and WARF may, within thirty (30) days of its
request, review Century’s and its Sublicensee(s)’s books and records to allow CDI and WARF to verify the accuracy
of Century’s and its Sublicensee(s)’s Development Report and the payments made by Century and its Sublicensee(s) to
CDI. Such review will be performed no more than annually and by an attorney or registered CPA and scientific expert designated
by CDI at CDI’s expense upon reasonable notice and during regular business hours.

 

(c)         If a royalty payment deficiency is determined, Century and its Sublicensee(s), as applicable, will pay the royalty deficiency
outstanding within thirty (30) days of receiving written notice thereof, plus interest on outstanding amounts as described in
Section 4.1(b)(i). If a royalty payment deficiency for a Calendar Year exceeds the lesser of [***] of the royalties paid
for that year or [***], then Century or its Sublicensee(s) will be responsible for paying out-of-pocket expenses incurred with
respect to such review by CDI and WARF.

 

Article
5

Intellectual Property Protection
and Related Matters

 

5.1           Ownership. As between the Parties, each Party or its Affiliates shall solely Own all Intellectual Property, including Patent
Rights related thereto, made, conceived, reduced to practice, or otherwise discovered, whether prior to, on or after the Effective
Date, solely by employees, agents and consultants of such Party or its Affiliates. For purposes of determining ownership under
this Section 5.1, inventorship shall be determined in accordance with the rules of inventorship under U.S. patent Laws.

 

5.2           Patent Term Extensions. As between the Parties, CDI shall have the sole right to obtain patent term extensions or supplemental
protection certificates or their equivalents with respect to any Licensed Product in the Field, including with respect to any
Licensed Patent Right worldwide and Century shall reasonably cooperate with CDI and WARF in connection therewith.

 

5.3           Third Party Infringement Each Party shall notify the other Party promptly of any knowledge it acquires of any actual or
potential infringements of the Licensed Patent Rights with respect to any activities of a Third Party in the Field in any country
in the world and shall provide the other Party with all available evidence regarding such known or suspected infringement or unauthorized
use. Notwithstanding any provision to the contrary CDI is not obligated to enforce the Licensed Patent Rights against such Third
Party.

 

5.4           Defense
of Infringement Claims. If the manufacture, sale or use of a Licensed Product pursuant to this Agreement results in, or may result
in, any claim, suit, or proceeding by a Third Party alleging patent infringement by Century (or its Affiliates or

    -16-

     

    

 

Sublicensees),
Century shall promptly notify CDI thereof in writing. Century or its Affiliates or Sublicensees shall have the exclusive right to defend
and control the defense of any such claim, suit or proceeding at its own expense, using counsel of its own choice; provided, however,
that Century and its Affiliates and Sublicensees shall afford CDI and WARJF an opportunity to participate in such defense at their own
cost and expense and shall not enter into any settlement which admits or concedes that any aspect of Licensed Patent Rights are invalid
or unenforceable without the prior written consent of CDI, not to be unreasonably withheld. Century shall keep CDI reasonably informed
of all material developments in connection with any such claim, suit, or proceeding.

 

5.5           Patent
Invalidity Claim.  During the Term, each Party shall promptly notify the other Party in the event of any legal or administrative
action by any Third Party against a Licensed Patent Right of which such Party becomes aware, including any nullity, revocation,
reexamination or compulsory license proceeding or similar proceeding.

 

5.6           Patent Marking. Century agrees to comply with the patent marking statutes in each country in which Licensed Products are
sold by or on behalf of Century and/or its Affiliates or Sublicensees.

 

5.7           Contest of Validity.

 

(a)         Century, its Affiliates and its Sublicensee(s) must provide CDI at least three (3) months prior written notice before filing any
action that contests the validity of any Licensed Patent Rights during the Term of this Agreement.

 

(b)         In the event Century, its Affiliates or its Sublicensee(s) files any action contesting the validity of any Licensed Patent Rights,
the filing party will pay a royalty rate of [***] times the royalty rate specified in Section 4.1 of this Agreement for
all Licensed Products sold during the pendency of such action. Moreover, should the outcome of such contest determine that any
claim of a Licensed Patent Right challenged is valid and would be infringed by a Licensed Product sold by Century (or its Affiliates
or its Sublicensee(s), if such Sublicensee filed the action) if not for the license granted by this Agreement, Century (or its
Affiliates, its Sublicensee(s), if such Sublicensee filed the action) will thereafter, and for the remaining Term of this Agreement,
pay a royalty rate of [***] times the royalty rate specified in Section 4.1 of this Agreement.

 

(c)         In the event that Century, its Affiliates, or its Sublicensee(s) contests the validity of any Licensed Patent Rights during the
Term of this Agreement, Century agrees (and will require its Affiliates and its Sublicensee(s) to agree) to pay to CDI all royalties
due under the Agreement during the period of challenge. For the sake of clarity, such amounts will not be paid into any escrow
or other account, but directly to CDI, and will not be refunded.

 

Article
6

Confidentiality

 

    -17-

     

    

 

6.1           Confidential Obligations. Each Party shall (a) maintain in strict confidence the Confidential Information of the other
Party to the same extent such Party maintains its own confidential information, but in no event less than a reasonable degree
of care, (b) not disclose such Confidential Information to any Third Party without the prior written consent of the other Party
(except as permitted pursuant to Section 6.3 below), and (c) not use such Confidential Information for any purpose except
those expressly permitted by this Agreement. The obligations of confidentiality, non-disclosure and non-use under this Section
6.1 shall be in full force during the Term and for a period of [***] thereafter. Except as may be authorized in advance
in writing by CDI, Century will only grant access to CDI’s Confidential Information to its Affiliates, its Sublicensee(s)
and those officers and employees of Century, its Affiliates and its Sublicensee(s) involved in research relating to the Licensed
Patent Rights. Century will require its Affiliates and its Sublicensee(s) and all such officers and employees to be bound by terms
of confidentiality no less restrictive than those set forth in this Article 6. Century, its Affiliates and its Sublicensee(s)
will not use any Confidential Information including, but not limited to, for the purpose of claiming priority to the Licensed
Patent Rights in any patent prosecution. As between the Parties, Confidential Information of WARF, including the WARF License
Agreement shall be deemed to be CDI’s Confidential Information Each Party, upon the request of the other Party, will return
all copies of or destroy (and certify such destruction in writing) the Confidential Information disclosed or transferred to it
by the other Party pursuant to this Agreement, within sixty (60) days of such request or, if earlier, the termination or expiration
of this Agreement.

 

6.2           Exceptions to Confidentiality. Notwithstanding the foregoing, the obligations of confidentiality set forth in Section
6.1 shall not apply to information that, in each case as demonstrated by competent written documentation:

 

(a)         is publicly disclosed or made generally available to the public by the disclosing Party, either before or after it becomes known
to the receiving Party;

 

(b)         was known to the receiving Party, without any obligation to keep it confidential, prior to the date of first disclosure by the
disclosing Party to the receiving Party, as shown by the receiving Party’s files and records;

 

(c)         is subsequently disclosed to the receiving Party by a Third Party lawfully in possession thereof without obligation to keep it
confidential and without a breach of such Third Party’s obligations of confidentiality;

 

(d)         has been publicly disclosed or made generally available to the public other than through any act or omission of the receiving
Party or its Affiliates in breach of this Agreement; or

 

(e)         has
been independently developed by the receiving Party without the aid, application or use of the disclosing Party’s Confidential
Information (the competent written proof of which must be contemporaneous with such independent development).

    -18-

     

    

6.3           Authorized
Disclosure. Notwithstanding Section 6.1, a Party may disclose Confidential Information of the other Party to the extent
such disclosure is reasonably necessary in the following instances:

 

(a)         Prosecuting and Maintaining Patent Rights in accordance with this Agreement; provided that the non-filing Party whose Confidential
information is being disclosed is given a reasonable opportunity to review the proposed disclosure of such Confidential Information
and the filing Party considers in good faith any comments provided by the non-filing Party;

 

(b)         communicating and making filings with Regulatory Authorities or otherwise complying with applicable Laws or submitting information
to tax or other governmental authorities, including referencing any DMF in accordance with Section 2.4; provided that if
a Party is required by Law to make any public disclosure of Confidential Information of the other Party, to the extent it may
legally do so, it will give reasonable advance written notice to the other Party of such disclosure and will use its reasonable
efforts to secure confidential treatment of such Confidential Information prior to its disclosure (whether through protective
orders or otherwise), and shall disclose only that portion of the Confidential Information which is legally required to be disclosed;

 

(c)         to the extent mutually agreed to in writing by the Parties; or

 

(d)         to WARF to the extent necessary to perform CDI’s obligations under the WARF License Agreement.

 

6.4           Press Releases and Other Permitted Disclosures.

 

(a)         CDI and Century each agree not to disclose any of the terms and conditions of this Agreement to any Third Party, except as described
below in this Section 6.4 or as otherwise agreed in writing by the Parties. The Parties have agreed on a press release
to be issued by Century announcing this Agreement after the Effective Date in substantially the form set forth in Exhibit D; provided
that the timing of the publication and release of such press release shall be agreed to by the Parties. Each Party shall have
the right to disclose the existence of this Agreement, including that Century has received a license to CDI’s Licensed Patent
Rights. Subject to the other provisions of this Agreement, no press release, public statement or public disclosure concerning
the existence or terms of this Agreement shall be made, either directly or indirectly, by either Party without the prior written
approval of the other Party. Once any public statement or public disclosure has been approved in accordance with this Section
6.4, then either Party may appropriately communicate information contained in such permitted statement or disclosure.

 

(b)         Century
may disclose the terms and conditions of this Agreement on a strictly need-to-know basis to (i) its Affiliates, employees, consultants,
independent contractors, agents or professional advisors (including attorneys, accountants and actual and prospective investment
bankers), (ii) actual or potential investors, lenders, Sublicensees, licensees, licensors, or collaborators, but only with the
express prior written consent of CDI, which shall not be unreasonably conditioned, delayed or withheld (and, for clarity, the
conditioning of such consent 

    -19-

     

    

 

on only a redacted copy of this Agreement approved by CDI being disclosed to any of the foregoing
persons in this clause (ii) shall not automatically be deemed to be unreasonable) or (iii) acquirers or merger partners that have
entered into a letter of intent or are actively negotiating a definitive acquisition or merger agreement with Century; in each
case under the foregoing clause (i), (ii) or (iii), under obligations of confidentiality at least as restrictive as those set
forth herein, and solely in connection with Century performing its obligations or exercising its rights under this Agreement or
for the purpose of assisting the recipient with evaluating and entering into a transaction with Century.

 

(c)         CDI may disclose the terms and conditions of this Agreement on a strictly need-to-know basis to (i) its Affiliates, employees,
consultants, independent contractors, agents or professional advisors (including attorneys, accountants and actual and prospective
investment bankers), (ii) actual or potential investors, lenders, licensors, licensees, or collaborators, but except in the case
of CDI’s licensors of any of the Licensed Patent Rights (to which this clause does not apply), only with the express prior
written consent of Century, which shall not be unreasonably conditioned, delayed or withheld (and, for clarity, the conditioning
of such consent on only a redacted copy of this Agreement approved by Century being disclosed to any of the foregoing persons
in this clause (ii) shall not automatically be deemed to be unreasonable), or (iii) acquirers or merger partners that have entered
into a letter of intent or are actively negotiating a definitive acquisition or merger agreement with CDI; in each case under
the foregoing clause (i), (ii) or (iii), under obligations of confidentiality at least as restrictive as those set forth herein,
and solely in connection with CDI performing its obligations or exercising its rights under this Agreement or for the purpose
of assisting the recipient with evaluating and entering into a transaction with CDI.

 

(d)         Notwithstanding the foregoing provisions of this Article 6, a Party may disclose the existence and terms of this Agreement
or the Confidential Information of the other Party where required, as reasonably determined by the legal counsel of the disclosing
Party, by applicable Law, by applicable stock exchange regulation or by order or other ruling of a competent court or other governmental
authority, although, to the extent practicable, the other Party shall be given at least three (3) Business Days advance written
notice of any such legally required disclosure to comment and the disclosing Party shall reasonably consider such comments provided
by such other Party on the proposed disclosure. In case either Party is obliged to publicly disclose or file this Agreement as
a “material agreement” in accordance with applicable Law or applicable stock exchange regulations (“SEC Filing”),
this Agreement shall be redacted by the filing Party to the extent permissible upon the advice of legal counsel, and the filing
Party shall provide the other Party a copy of such redacted Agreement in advance of such SEC Filing to enable the other Party
to review and comment on the scope of such redaction; provided that the filing Party shall consider in good faith any comments
provided by such other Party.

 

Article
7 

Representations, Warranties and Covenants

 

7.1           Representations
of Authority. Each Party represents and warrants to the other that as of the Effective Date it has full right, power and authority
to enter into this Agreement and to perform its respective obligations under this Agreement. 

    -20-

     

    

7.2           Consents.
Each Party represents and warrants that as of the Effective Date all necessary consents (excluding WARF’s consent set
forth in Section 9.1), approvals and authorizations of all government authorities and other Persons required to be obtained
by such Party in connection with execution, delivery and performance of this Agreement have been obtained.

 

7.3           No Conflict. Each Party represents and warrants that, as of the Effective Date, the execution and delivery of this Agreement
and the performance of such Party’s obligations hereunder (a) do not conflict with or violate any requirement of applicable
Laws and (b) do not conflict with, violate or breach or constitute a default of, or require any consent under, any contractual
obligations of such Party, except such consents as have been obtained as of the Effective Date. For the avoidance of doubt, this
Agreement is subject to the WARF License Agreement and in the case of any inconsistency between the WARF License Agreement and
this Agreement the WARF License Agreement prevails.

 

7.4           Employee, Consultant and Advisor Obligations. Each Party represents and warrants that, as of the Effective Date, each of
its and its Affiliates’ employees, consultants and advisors has executed an agreement or has an existing obligation under
law obligating such employee, consultant or advisor to maintain the confidentiality of Confidential Information to the extent
required under Article 6.

 

7.5           Intellectual Property. 

 

(a)         CDI
represents and warrants to Century that (i) it Controls the entire right, title and interest in and to the Licensed Patent Rights,
(ii) it has the right to grant to Century the rights and licenses under the Licensed Patent Rights granted in this Agreement and
will not take any of the foregoing actions in any manner inconsistent with the terms hereof, (iii) to the knowledge of CDI, none
of the Licensed Patent Rights was fraudulently procured from the relevant governmental patent granting authority, (iv) as of the
Effective Date, except for the currently pending dispute between CDI and [***] to the extent fully disclosed to Century
as of the Effective Date, current pending opposition and third party observation against EP patent to the knowledge of CDI, there
is no claim or demand of any Person pertaining to, or any proceeding which is pending or threatened, that asserts the invalidity,
misuse or unenforceability of the Licensed Patent Rights or challenges its ownership of such Patent Rights or makes any adverse
claim with respect thereto, including any claim that such Patent Rights infringe or misappropriate Intellectual Property of any
Third Party, and, to the knowledge of CDI, there is no basis for any such claim, demand or proceeding, (v) except for the currently
pending dispute between CDI and [***] to the extent fully disclosed to Century as of the Effective Date, to the knowledge
of CDI (without any duty to investigate), as of the Effective Date, the Licensed Patent Rights are not being infringed by any
Third Party, (vi) the Licensed Patent Rights include all Patent Rights that are owned or exclusively licensed by it as of the
Effective Date with respect to the reprogramming of human somatic cells to iPSCs except for the Patent Rights exclusively licensed
from [***] and (vii) none of its Affiliates own or control, as of the Effective Date, any Patent Rights
pertaining to reprogramming of human somatic cells to iPSC that are reasonably necessary to Exploit a Licensed Product.

    -21-

     

    

(b)         During the Term, CDI shall uses Commercially Reasonable Best Efforts to retain and maintain sufficient license rights under, any
Licensed Patent Rights to enable CDI to grant the licenses and rights to such Patent Rights as reasonably necessary to practice,
such Patent Rights in accordance with the license to be granted under this Agreement. CDI shall not, during the Term, sell, assign,
transfer, pledge, fail to maintain control of otherwise dispose of, or incur any lien or encumbrance on, any Licensed Patent Rights.
Notwithstanding any provision to the contrary, CDI may sell, assign, transfer, license, pledge, fail to maintain control of, otherwise
dispose of, or grant any option or other right, title or interest in to or under, or incur any lien or encumbrance on, any Patent
Rights licensed under this Agreement so long as such disposition is subject to this Agreement.

 

(c)         Nothing in this Agreement will, however, be construed as: (i) a warranty or representation by CDI as to the validity, enforceability,
or scope of any of the Licensed Patent Rights; (ii) a warranty or representation that anything made, used or transferred under
the licenses granted in this Agreement will or will not infringe patents of Third Parties; (iii) an obligation to furnish any
assistance, or Know-How not provided in the Licensed Patent Rights or any materials or services other than those specified in
this Agreement; or (iv) an obligation to file any patent application or secure or maintain any patent right Century represents
and warrants that Products produced under the licenses granted herein shall be manufactured substantially in the United States
as required by 35 U.S.C § 204 and applicable regulations of Chapter 37 of the Code of Federal Regulations.

 

(d)         If During the Term, CDI develops, conceives, generates any Intellectual Property pertaining to reprogramming of human somatic
cells to iPSC that are reasonably necessary to Exploit the Licensed Products, CDI shall maintain Control over such Intellectual
Property.

 

7.6           No
Warranties.

 

(a)         EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN ARTICLE 7 HEREOF, THE PARTIES MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OF
ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT,
OR NON-MISAPPROPRIATION OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS, ARE MADE OR GIVEN BY OR ON BEHALF OF A PARTY. EXCEPT AS EXPRESSLY
STATED IN THIS AGREEMENT, ALL REPRESENTATIONS AND WARRANTIES, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, ARE HEREBY EXPRESSLY
EXCLUDED.

 

Article
8 

Indemnification; Insurance; and Limitation on Damages

 

8.1           By
Century. Century, its Affiliates and its Sublicensee(s) will, at all times during the Term of this Agreement and
thereafter, indemnify, defend and hold harmless CDI, WARF, the Morgridge Institute for Research, the WiCell Research
Institute, and the University of Wisconsin (the “University”), and their respective trustees, directors,
officers, shareholders 

    -22-

     

    

 

 and
employees (including without limitation any inventors of the Licensed Patent Rights) against all liabilities, demands, damages,
settlements, suits, claims, proceedings, costs and expenses, including legal expenses and reasonable attorney’s fees, arising
out of or relating to the death of or injury to any person or persons or any damage to property, due to the sale, marketing, use, or
manufacture of Licensed Products or Developments. CDI at all times reserves the right to select and retain counsel of its own to
defend CDI’s interests in any such proceeding.

 

8.2           By CDI. CDI, its Affiliates and its Sublicensee(s) will, at all times during the Term of this
Agreement and thereafter, indemnify, defend and hold harmless Century, its Affiliates and its Sublicensees, and their respective
trustees, directors, officers, shareholders and employees against all liabilities, demands, damages, settlements, suits, claims,
proceedings, costs and expenses, including legal expenses and reasonable attorney’s fees, arising out of or relating to
(a) any material breach by CDI of any of its representations, warranties or obligations pursuant to this Agreement, or (b) the
willful misconduct or grossly negligent acts of CDI or its Affiliates; excluding, in each case (a) and (b), any damages or other
amounts for which Century has an obligations to indemnify CDI pursuant to Section 8.1, as to which damages or amounts each
Party shall indemnify the other to the extent of their respective liability for such damages or amounts.

 

8.3           Procedures. A Person entitled to indemnification under this Article 8 (an “Indemnified Party”)
shall give prompt written notification to the Party from whom indemnification is sought (the “Indemnifying Party”)
of any claim, suit, action or demand for which indemnification is sought under this Agreement; provided, however, that no delay
or failure on the part of an Indemnified Party in so notifying the Indemnifying Party shall relieve the Indemnifying Party of
any liability or obligation hereunder except to the extent of any damage or liability caused by or arising out of such delay or
failure. Within thirty (30) days after delivery of such notification, the Indemnifying Party may, upon written notice thereof
to the Indemnified Party, assume control of the defense of such claim, suit, action or demand with counsel reasonably satisfactory
to the Indemnified Party. If the Indemnifying Party does not assume control of such defense, the Indemnified Party shall control
such defense. The Party not controlling such defense may participate therein with counsel of its own choosing at its own expense;
provided that, the 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 differences in the interests of such Indemnified Party and any other party represented by such counsel.
The Indemnified Party shall not agree to any settlement of such action, suit, proceeding or claim without the prior written consent
of the Indemnifying Party, which shall not be unreasonably withheld, delayed or conditioned.

 

8.4           Insurance.
Century warrants, and will have its Affiliates and its Sublicensee(s) warrant, that it now maintains and will continue to maintain
liability insurance coverage reasonably appropriate to the risk involved in use, sale, marketing, and manufacture of Licensed
Products or Developments, under this Agreement, and that such insurance coverage is sufficient to cover CDI and the inventors
of the WARF Patent Rights as additional insureds. Upon CDI’s request, Century, its Affiliates and its Sublicensee(s), if
applicable, will present evidence to CDI that such coverage is being maintained.

    -23-

     

    

8.5           No Consequential or Punitive Damages. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL EITHER PARTY OR THEIR RESPECTIVE
TRUSTEES, DIRECTORS, OFFICERS AND EMPLOYEES (INCLUDING WITHOUT LIMITAION ANY INVENTORS OF THE LICENSED PATENT RIGHTS) BE LIABLE
FOR ANY INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND. INCLUDING ECONOMIC DAMAGES OR INJURY TO PROPERTY AND LOST PROFITS,
REGARDLESS OF WHETHER SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES AND NOTWITHSTANDING THE FAILURE OF THE ESSENTIAL
PURPOSE OF ANY LIMITED REMEDY.

 

8.6           Limitation of Liability. EXCEPT FOR GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE
LAW, CDI’S LIABILITY UNDER OR IN CONNECTION WITH THIS AGREEMENT HOWSOEVER ARISING (WHETHER IN CONTRACT, TORT, NEGLIGENCE,
BREACH OF STATUTORY DUTY, OR OTHERWISE) WILL NOT EXCEED THE TOTAL AMOUNTS ACTUALLY PAID BY CENTURY UNDER THIS AGREEMENT BEFORE
THE DATE OF THE ACTION OR OMISSION ALLEGED TO HAVE CAUSED SUCH LIABILITY.

 

Article
9 

Term and Termination

 

9.1           Term. This Agreement shall become effective either on the Signing Date or the date on which WARF provides CDI with a written
consent to this Agreement, whichever comes later (the “Effective Date”) and shall otherwise remain in effect,
unless terminated as set forth in this Article 9, (the “Term”), provided, however with respect to the
Licensed Patent Rights, this Agreement shall remain until the expiration of the last to expire Licensed Patent Rights unless earlier
terminated as set forth in this Article 9.

 

9.2           Termination for Material Breach.

 

(a)         Any material failure by a Party (the “Breaching Party”) to comply with any of its material obligations contained
in this Agreement (such failure, a “Material Breach”) shall entitle the other Party (the “Non-Breaching
Party”) to give to the Breaching Party written notice specifying the nature of the Material Breach, requiring the Breaching
Party to cure such Material Breach.

 

(b)         If
such Material Breach is not cured within sixty (60) days after the receipt of notice pursuant to Section 9.2(a) above, the Non-Breaching
Party shall be entitled to terminate this Agreement on written notice to the Breaching Party and without prejudice to any of its other
rights conferred on it by this Agreement; provided that if a Material Breach cannot reasonably be cured within such sixty (60)-day period
and the Breaching Party promptly delivers a plan to cure such Material Breach (reasonably acceptable to the Non-Breaching Party) and
uses Commercially Reasonable Best Efforts to implement such plan, then the cure period shall be extended for so long as the Breaching
Party is using Commercially Reasonable Best Efforts to cure such Material Breach (up to a maximum cure period of one hundred twenty (120)
days from the date of initial notice); further provided, however, that if the Breaching Party disputes the 

    -24-

     

    

 

existence of a Material Breach, the matter shall be
submitted for resolution in accordance with Section 10.11, and the Breaching Party shall not have the right to
terminate this Agreement unless and until a final decision of Material Breach is rendered under Section 10.11 and the
Breaching Party fails to cure such Material Breach within sixty (60) days thereafter.

 

(c)         Notwithstanding any provision to the contrary herein, if Century at any time (i) defaults in the timely payment of any monies
due to CDI or the timely submission to CDI of any report, (ii) fails to actively pursue any Development Plan, or (iii) commits
any breach of any other covenant herein contained, and Century fails to remedy any such breach or default within ninety (90) days
after written notice thereof by CDI, or if Century, its Affiliates or its Sublicensee(s) commits any act of bankruptcy, becomes
insolvent, is unable to pay its debts as they become due, files a petition under any bankruptcy or insolvency act, or has any
such petition filed against it which is not dismissed within sixty (60) days, or offers any component of the Licensed Patent Rights,
or Reprogrammed iPS Cells to its creditors, CDI may, at its option, terminate this Agreement by giving notice of termination to
Century.

 

9.3           Termination
for Failure to Develop a Licensed Product. If Century fails to develop a Licensed Product within four (4) years of successful completion of the first proof of concept clinical trial
for such Licensed Product in the U.S. or E.U., CDI shall have the right to terminate this Agreement pursuant to the terms of this Section
9.3. Notwithstanding the foregoing CDI may extend such four (4) year term if Century demonstrates based on reasonable evidence that Century
or its Affiliates or their Sublicensees have been diligently pursuing the development of a Licensed Product following the successful completion
of the first proof of concept clinical trial for such Licensed Product in the U.S. or E.U. and will complete the development of a Licensed
Product within a year from the expiry of the four (4) year term following the successful completion of the first proof of concept clinical
trial for such Licensed Product in the US or E.U.

 

9.4           Termination for Termination of Differentiation License Agreement. In the event that the Differentiation License Agreement
terminates or expires CDI shall be entitled to terminate this Agreement with an immediate effect on a written notice to Century.

 

9.5           Termination for Bankruptcy. To the extent allowed under applicable Law, either Party shall have the right to terminate
this Agreement in the event that the other Party admits its inability to pay its debts generally as they become due or in the
event of the commencement of any proceeding in or for bankruptcy, insolvency, dissolution or winding up by or against the other
Party (other than pursuant to a corporate restructuring), or the appointment of a receiver or similar agent by a court of competent
jurisdiction, that is not dismissed or otherwise disposed of within sixty (60) days thereafter and/or the administrator of the
bankruptcy estate or the Party under in-court restructuring has not, within five (5) days after the receipt of an inquiry from
the other Party, confirmed that the bankruptcy estate or the Party under in-court restructuring will adopt this Agreement.

 

9.6           Termination for Convenience. Century may terminate this Agreement, at any time and for any reason or no reason, in its
entirety or on a Licensed Product-by-Licensed Product basis (to exclude such product from the Field) or country-by-country basis
(to eliminate such country from the Territory), by providing [***]  prior written and unambiguous notice to CDI.
The termination shall become effective at the end of the [***] period.

 

    -25-

     

    

9.7           Effects of Termination. 

 

(a)         Generally.
Upon termination of this Agreement or WARF License Agreement, the licenses granted herein will immediately terminate. In the event
of termination under Section 9.4, Century, its Affiliates and its Sublicensee(s) will have [***] to cease all activities
involving the use of Licensed Patent Rights and Development for any purpose, and will destroy all Licensed Products in its
possession. Century, its Affiliates and its Sublicensee(s) will remain obligated to pay any outstanding amounts owed as of the date
of termination and all such amounts will be paid within [***] of termination.

 

In
the event of any early termination of this Agreement, the Parties will use Commercially Reasonable Best Efforts to work together
in good faith to establish and implement reasonable wind-down procedures with respect to relevant Licensed Product-related activities
ongoing at the time of such termination, which shall include continuation of the licenses granted to Century hereunder (and subject
to the continuing terms and conditions of this Agreement) to permit Century and its Affiliates and Sublicensees to continue and
complete any ongoing clinical trials of Licensed Products and to make or have made such Licensed Products as necessary to continue
and complete such clinical trials; provided, however, in that the event such termination is by CDI pursuant to Section
9.2, such activities shall be limited to those necessary for Century to comply with regulatory obligations, or medical or
ethical obligations to patients consistent with industry standards.

 

(b)         Return or Destruction of Confidential Information. Upon the expiration or termination of this Agreement, each Party shall
promptly return or destroy all of such other Party’s Confidential Information that relates to a Licensed Products or that
was provided by or on behalf of such other Party hereunder that is in the possession or control of such Party (or any of its Affiliates).

 

(c)         Survival. The following provisions shall survive the expiration or termination of this Agreement: Article 1 (Definitions)
(to the extent necessary to give effect to other surviving provisions), Article 5 (Intellectual Property), Article 6
(Confidentiality), Article 8 (Indemnification; Insurance; and Limitation on Damages) (other than Section 8.4 (Insurance))
and Article 10 (Miscellaneous Provisions), and Sections 2.3(c) (Sublicensing), 4.1(a)(iii) (Reports, Payments
and Accounting), 9.7 (Effects of Termination) and this Section 9.7(c) (Survival).

 

Article
10

Miscellaneous Provisions

 

10.1         Governing
Law; Language. This Agreement and all disputes arising out of or related to this Agreement shall be construed and the respective
rights of the Parties determined in accordance with the Laws of the State of Wisconsin, excluding application of any conflict
of laws principles that would require application of the laws of a jurisdiction other than the Laws of the State of Wisconsin.
This Agreement and all communications related to it, or to any dispute or controversy arising out of it, shall be conducted in
English.

    -26-

     

    

10.2         Notice. Any notices required or permitted by this Agreement shall be in writing, shall specifically refer to this Agreement,
and shall be sent by hand, recognized national overnight courier, confirmed electronic mail or registered or certified mail, postage
prepaid, return receipt requested, to the following address of the Parties:

 

If
to CDI:

 

FUJIFILM
Cellular Dynamics Inc.

525 Science Drive, Madison, WI 53711 

Attention: Chief Technology Officer

 Email:
fcdi-licensing@cellulardynamics.com

 

With
a copy to:

 

FUJIFILM
Cellular Dynamics, Inc. 

525 Science Drive, Madison, WI 53711

 Attention: General Counsel

 

If
to Century:

 

Century
Therapeutics, Inc. 

54 West 21st Street, Suite 408, New York, NY 10010 

Attention: Chief
Executive Officer 

Email: lalo@centurytherapeutics.com

 

With
a copy to:

 

Goodwin
Procter LLP 

100 Northern Avenue 

Boston, MA 02210 

Attention: Mitchell S. Bloom, Esq.

 Email: mbloom@goodwinlaw.com

 

All
notices under this Agreement shall be deemed effective upon receipt. A Party may change its contact information immediately upon
written notice to the other Party in the manner provided in this Section 10.2.

 

10.3         Assignment.

 

(a)         Neither
Party may, without the consent of the other Party, assign or transfer any of its rights and obligations hereunder; provided that
each Party may assign or transfer this Agreement, in its entirety, without the consent of the other Party, (a) in connection with a sale
or transfer of all or substantially all of the business and assets of such Party or that portion of the assets of such Party to which
this Agreement relates, including by way of a Change of Control Event, transfer, or sale of assets related to this Agreement; provided
further that, in the case of any such proposed assignment or transfer by Century, it has complied with Section 10.3(b), or
(b) to an Affiliate. Any assignment or transfer in circumvention of the

    -27-

     

    

 

foregoing
 shall be void. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties hereto and their
respective permitted successors and assigns.

 

10.4         Notwithstanding the foregoing, Century will notify CDI in writing at least thirty (30) days in advance of any proposed assignment
or transfer including by way any Change of Control Event and, with respect to any such assignment or transfer to any non-Affiliate,
pay to CDI a fee of [***] to allow the transfer or assignment of the license granted herein to such non-Affiliate(s), within thirty
(30) days after the occurrence of such event. In the event of such assignment or transfer Century shall nevertheless remain liable
for all of its obligations, and those of any such assignee or transferee, to CDI hereunder. Entire Agreement. This Agreement constitutes
the entire agreement between the Parties with respect to its subject matter and supersedes all prior agreements or understandings
between the Parties relating to its subject matter. For the avoidance of doubt, the Non-Disclosure Agreement entered into between
the Parties as of February 18, 2018 shall continue to be effective with respect thereof.

 

10.5         Interpretation. The captions and headings to this Agreement are for convenience only, and are to be of no force or effect
in construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Articles,
Sections or Exhibits mean the particular Articles, Sections or Exhibits to this Agreement and references to this Agreement include
all Exhibits hereto. Unless context otherwise clearly requires, whenever used in this Agreement: (a) the words “include”
or “including” shall be construed as incorporating, also, “but not limited to” or “without limitation;”
(b) the word “day” or “year” means a calendar day or year unless otherwise specified; (c) the word “notice”,
 “consent”, or “approval” and references to other written communications contemplated under this Agreement
shall mean notice, consent, approval or communication in writing (whether or not specifically stated); (d) the words “hereof,”
 “herein,” “hereby” and derivative or similar words refer to this Agreement (including any Exhibits); (e)
the word “or” shall be construed as the inclusive meaning identified with the phrase “and/or;” (f) provisions
that require that a Party or the Parties hereunder “agree,” “consent” or “approve” or the
like shall require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter or
otherwise; (g) words of any gender include the other gender; (h) words using the singular or plural number also include the plural
or singular number, respectively; and (i) the word “law” (or “laws”) when used herein means any applicable,
legally binding statute, ordinance, resolution, regulation, code, guideline, rule, order, decree judgment, injunction, mandate
or other legally binding requirement of a government entity, together with any then-current modification, amendment and re- enactment
thereof, and any legislative provision substituted therefor. The Parties and their respective counsel have had an opportunity
to fully negotiate this Agreement. If any ambiguity or question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue
of the authorship of any provision of this Agreement. No prior draft of this Agreement shall be used in the interpretation or
construction of this Agreement.

 

10.6         Amendment
and Waiver. This Agreement may be amended, supplemented, or otherwise modified only by means of a written instrument signed by an
authorized representative of both Parties. Any waiver of any right or failure to act in a specific

    -28-

     

    

 

instance
 shall relate only to such instance and shall not be construed as an agreement to waive any right or fail to act in any other instance,
whether or not similar.

 

10.7         Severability.
In the event that any provision of this Agreement shall be held invalid or unenforceable for any reason, such invalidity or
unenforceability shall not affect any other provision of this Agreement. The Parties shall consult one another and use reasonable
efforts to agree upon a valid and enforceable provision that is a reasonable substitute for the invalid or unenforceable provision
and this Agreement shall be automatically amended to reflect such mutually agreed provision.

 

10.8         Use of Name. Century, its Affiliates and its Sublicensee shall not use the name of CDI, any inventor of the WARF Patent
Rights, or the name of WARF or the University of Wisconsin in any other form of publicity (except in connection with disclosures
permitted under Article 6) or logo without the prior written approval of the entity or person whose name is being used,
except where a disclosure is required by any applicable law or the rules of any securities exchange. Notwithstanding the foregoing,
CDI shall have the right to disclose to existing and potential licensees the fact that CDI has entered into this Agreement with
Licensee.

 

10.9         Counterparts. This Agreement may be executed in counterparts, each of which counterparts, when so executed and delivered,
shall be deemed to be an original, and all of which counterparts, taken together, shall constitute one and the same instrument.

 

10.10    Force Majeure. Neither Party will be responsible for delays resulting from causes beyond the reasonable control of such
Party, including fire, explosion, flood, war, strike, or riot, provided that the nonperforming Party uses Commercially
Reasonable Best Efforts for a company of its size and resources to avoid or remove such causes of nonperformance and continues
performance under this Agreement with reasonable dispatch whenever such causes are removed.

 

10.11    Dispute Resolution.

 

(a)         Escalation. If any dispute arises out of or relates to this Agreement, the Parties agree to first seek to resolve such
dispute by referring such dispute to the respective Chief Executive Officers of each Party for resolution. Such referral shall
take place within thirty (30) days after a written request by either Party to the other Party that resolution by the Chief Executive
Officers be attempted. If, within sixty (60) days following the dispute being referred to the Chief Executive Officers of the
Parties, the Chief Executive Officers of the Parties have not resolved the dispute, and a Party wishes to pursue the matter, such
Party may initiate binding arbitration in accordance with Section 10.11(b).

 

(b)         Alternative
Dispute Resolution. Any dispute arising out of or relating to this Agreement that has not been resolved pursuant to Section 10.11(a)
shall be shall be finally settled, in Tokyo in the event Century is a claimant and in New York in the event CDI is a claimant, under
the Rules of Arbitration of the International Chamber of Commerce (“ICC”). The arbitral tribunal shall consist of
three arbitrators, one selected by the claimant in the request for arbitration, the second selected by the respondent within thirty (30)
days of receipt of the request for arbitration, and the third, who shall act as presiding arbitrator, selected by the two

    -29-

     

    

 

party
appointed arbitrators within thirty (30) days of the selection of the second arbitrator. If any arbitrators are not selected within these
time periods, the International Court of Arbitration shall, upon the request of any Party, make the selection(s).

 

(c)         No
Limitation. Nothing in this Section 10.11 shall be construed as limiting in any way the right of a Party to seek a
preliminary injunction or other provisional relief with respect to any actual or threatened breach of this Agreement or to bring
an action in aid of arbitration. Should any Party seek an injunction or other equitable relief, or bring an action in aid of arbitration,
then for purposes of determining whether to grant such injunction or other equitable relief, or whether to issue any order in
aid of arbitration, the dispute underlying the request for such injunction or other equitable relief, or action in aid of arbitration,
may be heard by the court in which such action or proceeding is brought.

 

10.12    No
Third Party Beneficiaries. No Person other than Century, CDI and their respective Affiliates, successors and permitted assignees
hereunder, shall be deemed an intended beneficiary hereunder or have any right to enforce any obligation of this Agreement.

 

10.13    Independent Contractors. It is expressly agreed that Century and CDI shall be independent contractors and that the relationship
between Century and CDI shall not constitute a partnership, joint venture or agency. Neither Century nor CDI shall have the authority
to make any statements, representations, or commitments of any kind, or to take any action, which shall be binding on the other
Party, without the prior written consent of such other Party.

 

[remainder
of page intentionally left blank]

    -30-

     

    

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Signing Date.

 

	FUJIFILM
    CELLULAR DYNAMICS INC.	 	CENTURY
    THERAPEUTICS, INC.
	 	 	 
	By: 	/s/ Seimi Satahe	 	By:	/s/ Osvaldo Flores
	Name:	 Seimi Satahe	 	Name:	 Osvaldo Flores
	Title: 	CEO	 	Title:	 Chief Executive Officer
	Date:	18 Sep 2018	 	Date:	13 Sept 2018

     

     

    

Exhibit
A

 

Term
sheet for Collaboration Agreement

 

[***]

     

     

    

Exhibit
B

 

Licensed
Patent Rights Controlled by CDI

 

[***]

     

     

    

Exhibit
C

 

Development
Report

 

[***]

     

     

    

Exhibit
D

 

Press
Release

 

[***]EX-10.1

 Exhibit 10.1 

FORM OF BACKSTOP AGREEMENT 

This BACKSTOP AGREEMENT (this “Backstop Agreement”) is entered into on June 14, 2021, by and between Artius Acquisition,
Inc. (the “Company”), a Cayman Islands exempted company, which shall be domesticated as a Delaware corporation prior to the closing of the Transaction (as defined herein) and the undersigned parties (each, an “Apollo
Entity” and collectively “Apollo Backstop Provider”). 
 WHEREAS, on February 16, 2021, the Company entered
into an Agreement and Plan of Merger and Reorganization with Micromidas, Inc., a Delaware corporation (“Micromidas”), and Zero Carbon Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Company
(“Merger Sub”) (as may be amended or supplemented from time to time, the “Transaction Agreement,” and the transactions contemplated by the Transaction Agreement, the “Transaction”); 

WHEREAS, prior to the closing of the Transaction, the Company will be domesticated as a Delaware corporation in accordance with
Section 388 of the General Corporation Law of the State of Delaware and deregister as a Cayman Islands exempted company in accordance with Section 206 of the Cayman Islands Companies Law (2020 Revision) (the
“Domestication”); 
 WHEREAS, in connection with the Transaction, Apollo Backstop Provider desires to subscribe for and
purchase from the Company, following the Domestication and immediately prior to the consummation of the Transaction, that number of shares of the Company’s Class A common stock, par value $0.0001 per share (the “Shares”),
equal to Apollo Backstop Amount (as defined below) (the “Backstop Shares”) for a purchase price of $10.00 per share (the “Per Share Price” and the aggregate of such Per Share Price for all Backstop Shares being
referred to herein as the “Purchase Price”); 
 WHEREAS, in connection with the Transaction, the Company may enter into
subscription or backstop agreements (the “Other Backstop Agreements”) with certain other investors (“Other Backstop Providers”), pursuant to which such Other Backstop Providers may agree to commit to purchase
additional Shares; and 
 NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and
subject to the conditions, herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 

Section 1    Commitment. Subject to the terms and conditions hereof, at the Closing (as defined below),
Apollo Backstop Provider hereby agrees to subscribe for and purchase, and the Company hereby agrees to issue and sell to Apollo Backstop Provider, upon the payment of the Purchase Price, the Backstop Shares in an amount equal to Apollo Backstop
Amount (as defined below). Apollo Backstop Provider acknowledges and agrees that, as a result of the Domestication, the Backstop Shares that may be purchased by Apollo Backstop Provider and issued by the Company pursuant hereto shall be Shares of
common stock in a Delaware corporation (and not, for the avoidance of doubt, ordinary shares in a Cayman Islands exempted company). 

Section 2    Apollo Backstop Amount; Closing. 

(a)    The consummation of the transactions contemplated hereby (the “Closing”) shall occur on the closing
date of the Transaction (the “Closing Date”), immediately prior to or substantially concurrently with the consummation of the Transaction. 

(b)    No later than one (1) Business Day before the special meeting of the shareholders of the Company to approve
the Transaction (the “Special Meeting”) the Company shall determine the total number of Shares that are properly redeemed in connection with the Special Meeting (the “Redemption Amount”). 

(c)    The “Apollo Backstop Amount” shall be equal to the number of Shares validly redeemed by public
shareholders of Artius (other than Apollo Backstop Provider and its affiliates) in connection with the Transaction, up to a total of 3.0 million Shares, at a price of $10.00 per share (the “Maximum Apollo Backstop”);
provided, that if the Company enters into Other Backstop Agreements (other than with strategic investors and their affiliates who have not on or prior to the date of this Agreement executed a subscription agreement in connection with an
equity investment 

 
in the Company connection with the Transaction and otherwise, as determined by the Company in good faith (“Strategic Investors”)), the Apollo Backstop Amount shall be reduced, dollar-for-dollar, by the amount by which the aggregate commitments under Other Backstop Agreements (for the avoidance of doubt, not including Other Backstop Agreements
entered into with Strategic Investors) exceeds $20 million (until reduced to zero); provided further, that the Company may reduce the Apollo Backstop Amount at its sole discretion (regardless of Redemption Amount levels or commitments
under Other Backstop Agreements). Irrespective of whether the Apollo Backstop Amount shall be reduced (even if reduced to zero), the Maximum Apollo Backstop shall be equal $30,000,000 for purposes of Backstop Premium Letter (as defined below), dated
the date hereof, by and between the Company and Apollo Backstop Provider. The Maximum Apollo Backstop shall be allocated to each Apollo Entity in the amount of Shares set forth in each signature page hereto corresponding to such Apollo Entity, and
any reduction of the Apollo Backstop Amount as described in the first sentence of this Section 2(c) shall reduce each Apollo Entity’s allocation proportionally. 

(d)    No later than one (1) Business Day before the anticipated Closing Date, if the Apollo Backstop Amount is
greater than zero, the Company shall deliver written notice to Apollo Backstop Provider (the “Closing Notice”) specifying (i) the Redemption Amount, (ii) the Apollo Backstop Amount, as determined pursuant to paragraph (c),
above, (iii) the Purchase Price, (iv) the anticipated Closing Date, (vi) the wire instructions for delivery of the Purchase Price to the Company and (vii) the identity of Other Backstop Providers and the Backstop Amount with
respect to each such Other Backstop Provider; provided, that Apollo Backstop Provider shall maintain the confidentiality of any information included in such Closing Notice unless otherwise required by law, subpoena or regulatory request or
requirement. On the Closing Date, Apollo Backstop Provider shall deliver the Purchase Price for the Backstop Shares by wire transfer of United States dollars in immediately available funds to the account specified by the Company in the Closing
Notice. No later than two (2) Business Days prior to the Closing Date, Apollo Backstop Provider shall deliver to the Company such information as is reasonably required in the Closing Notice in order for the Company to issue the Backstop Shares
to Apollo Backstop Provider, including, without limitation, the legal name of the person in whose name the Backstop Shares are to be issued and a duly completed and executed Internal Revenue Service Form W-9
or appropriate Form W-8. Upon satisfaction (or, if applicable, waiver) of the conditions set forth in this Section 2, the Company shall deliver to Apollo Backstop Provider at the
Closing, (i) the Backstop Shares in book entry form, free and clear of any liens or other restrictions (other than those arising under this Backstop Agreement or applicable securities laws), in the name of Apollo Backstop Provider (or its
nominee in accordance with its delivery instructions), and (ii) evidence from the Company’s transfer agent of the issuance to Apollo Backstop Provider of the Backstop Shares on and as of the Closing Date, it being understood that the
delivery of a reasonably acceptable copy of such records shall be a condition precedent to Apollo Backstop Provider’s obligation to wire the Purchase Price for the Backstop Shares. In the event that the consummation of the Transaction does not
occur within five (5) Business Days after the anticipated Closing Date specified in the Closing Notice, unless otherwise agreed to in writing by the Company and Apollo Backstop Provider, the Company shall promptly (but in no event later than
seven (7) Business Days after the anticipated Closing Date specified in the Closing Notice) return the funds so delivered by Apollo Backstop Provider to the Company by wire transfer in immediately available funds to the account specified by
Apollo Backstop Provider, and any book entries shall be deemed cancelled. Notwithstanding such return or cancellation (x) a failure to close on the anticipated Closing Date shall not, by itself, be deemed to be a failure of any of the
conditions to Closing set forth in this Section 2 to be satisfied or waived on or prior to the Closing Date, and (y) unless and until this Backstop Agreement is terminated in accordance with
Section 6 herein, Apollo Backstop Provider shall remain obligated (A) to redeliver funds to the Company in escrow following the Company’s delivery to Purchaser of a new Closing Notice and (B) to consummate the
Closing upon satisfaction of the conditions set forth in this Section 2. For the purposes of this Backstop Agreement, “Business Day” means any day other than a Saturday, Sunday or any other day on which
commercial banks are required or authorized to close in the State of New York. 
 (e)    The Closing shall be subject to
the satisfaction, or valid waiver by each of the parties hereto, of the conditions that, on the Closing Date: 
  

	 	(i)	 no suspension of the qualification of the Backstop Shares for offering or sale or trading in any jurisdiction,
or initiation or threatening of any proceedings for any of such purposes, shall have occurred; 

  

	 	(ii)	 all conditions precedent to the closing of the Transaction set forth in the Transaction Agreement, including
all necessary approvals of the Company’s stockholders, and regulatory approvals, if any, shall have been satisfied (as determined by the parties to the Transaction 

  
 2 

	 	
Agreement) or waived (other than those conditions which, by their nature, are to be satisfied at the closing of the Transaction pursuant to the Transaction Agreement), and the closing of the
Transaction shall occur on the Closing Date substantially concurrently with or immediately following the Closing; and 

  

	 	(iii)	 no governmental authority shall have enacted, issued, promulgated, enforced or entered any judgment, order,
law, rule or regulation which is then in effect and has the effect of making the consummation of the transactions contemplated hereby illegal or otherwise restraining or prohibiting consummation of the transactions contemplated hereby and no such
governmental authority shall have instituted or threatened in writing a proceeding seeking to impose any such restriction or prohibition. 

(f)    The obligation of the Company to consummate the Closing shall be subject to the satisfaction or valid waiver by the
Company of the additional conditions that, on the Closing Date: 
  

	 	(i)	 all representations and warranties of Apollo Backstop Provider contained in this Backstop Agreement shall be
true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Apollo Backstop Provider Material Adverse Effect (as defined below), which representations and warranties shall be true and
correct in all respects) at and as of the Closing Date (except for representations and warranties made as of a specific date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as
to materiality or Apollo Backstop Provider Material Adverse Effect, which representations and warranties shall be true and correct in all respects) as of such date); and 

 

	 	(ii)	 Apollo Backstop Provider shall have performed, satisfied and complied in all material respects with all
covenants, agreements and conditions required by this Backstop Agreement to be performed, satisfied or complied with by it at or prior to the Closing. 

(g)    The obligation of Apollo Backstop Provider to consummate the Closing shall be subject to the satisfaction or valid
waiver by Apollo Backstop Provider of the additional conditions that, on the Closing Date: 
  

	 	(i)	 all representations and warranties of the Company contained in this Backstop Agreement shall be true and
correct in all material respects (other than representations and warranties that are qualified as to materiality or Company Material Adverse Effect (as defined below), which representations and warranties shall be true and correct in all respects)
at and as of the Closing Date (except for representations and warranties made as of a specific date, which shall be true and correct in all material respects (other than representations and warranties that are qualified as to materiality or Company
Material Adverse Effect, which representations and warranties shall be true and correct in all respects) as of such date); 

  

	 	(ii)	 the Company shall have performed, satisfied and complied in all material respects with all covenants,
agreements and conditions required by this Backstop Agreement and the Backstop Premium Letter dated as of the date hereof between the Company and Apollo Backstop Provider (the “Backstop Premium Letter”) to be performed, satisfied or
complied with by it at or prior to the Closing; and 

  

	 	(iii)	 no amendment, waiver, or modification of the Transaction Agreement (as the same exists on the date hereof as
provided to Apollo Backstop Provider) shall have occurred that materially and adversely affects Apollo Backstop Provider’s economic benefits under this Backstop Agreement. 

  
 3 

 Section 3    Company Representations and Warranties.
The Company represents and warrants to Apollo Backstop Provider that: 
 (a)    The Company (i) is or will be,
as applicable, duly organized, validly existing and in good standing under the laws of the Cayman Islands as of the date hereof and the State of Delaware as of the Closing Date, (ii) has the requisite power and authority to own, lease and
operate its properties, to carry on its business as it is now being conducted and to enter into, deliver and perform its obligations under this Backstop Agreement, and (iii) is duly licensed or qualified to conduct its business and, if
applicable, is in good standing under the laws of each jurisdiction (other than its jurisdiction of incorporation) in which the conduct of its business or the ownership of its properties or assets requires such license or qualification, except, with
respect to the foregoing clause (iii), where the failure to be in good standing would not reasonably be expected to have a Company Material Adverse Effect. For purposes of this Backstop Agreement, a “Company Material Adverse
Effect” means an event, change, development, occurrence, condition or effect with respect to the Company and its subsidiaries, taken together as a whole (on a consolidated basis), that, individually or in the aggregate, would reasonably be
expected to have a material adverse effect on the business, financial condition, stockholders equity or results of operations of the Company and its subsidiaries, taken together as a whole (on a consolidated basis) or on the Company’s ability
to consummate the transactions contemplated hereby, including the issuance and sale of the Backstop Shares. 
 (b)    As
of the Closing Date, the Backstop Shares will be duly authorized and, when issued and delivered to Apollo Backstop Provider against full payment therefor in accordance with the terms of this Backstop Agreement, will be validly issued, fully paid and
non-assessable and will not have been issued in violation of any preemptive rights created under the Company’s organizational documents (as adopted on or prior to the Closing Date) or the laws of its
jurisdiction of incorporation. 
 (c)    This Backstop Agreement has been duly authorized, executed and delivered by the
Company, and assuming the due authorization, execution and delivery of the same by Apollo Backstop Provider, this Backstop Agreement shall constitute the valid and legally binding obligation of the Company, enforceable against the Company in
accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors generally and by the availability of equitable remedies. 

(d)    Other than as disclosed in the Company’s SEC Reports as of the date hereof (including Other Backstop
Agreements, the Transaction Agreement and any other agreement contemplated by the Transaction Agreement), the Company has not entered into any side letter or similar agreement in connection with the Transaction with any Other Backstop Provider
(other than Strategic Investors) in connection with such investor’s direct or indirect investment in the Company to provide for terms with respect to the purchase of Shares that are more favorable to such Other Backstop Provider thereunder than
the terms of this Backstop Agreement, unless such other terms are also offered to Apollo Backstop Provider, except for any alternative settlement procedures, eligibility for qualified purchasers to invest, terms related to the number of Shares to be
purchased by such Other Backstop Provider, and terms particular to the regulatory requirements of such investor or its affiliates or related funds. The Other Backstop Agreements shall reflect the same Per Share Price and, other than in the case of
Other Backstop Agreements entered into with Strategic Investors and other than terms related to the number of Shares to be purchased by such Other Backstop Provider, other terms substantially similar to the terms contained herein. The Other Backstop
Agreements have not been amended or modified and shall not be amended after the date hereof to provide for terms with respect to the purchase of Shares that are more favorable to such Other Backstop Provider thereunder than the terms of this
Backstop Agreement, unless such other terms (other than terms related to the number of Shares to be purchased by such Other Backstop Provider) are also offered to Apollo Backstop Provider. 

(e)    Assuming the accuracy of the representations and warranties of Apollo Backstop Provider, the execution and delivery
of this Backstop Agreement, the issuance and sale of the Backstop Shares and the compliance by the Company with the provisions of this Backstop Agreement and the consummation of the transactions contemplated herein will not conflict with or result
in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company pursuant to the terms of
(i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which the Company is a party or by which the Company is bound or to which any of the property or assets of the Company is subject;
(ii) the organizational documents of the Company; or (iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Company or any of its
properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a Company Material Adverse Effect. 

  
 4 

 (f)    The Company is not in default or violation (and no event has
occurred which, with notice or the lapse of time or both, would constitute a default or violation) of any term, condition or provision of (i) the organizational documents of the Company, (ii) any loan or credit agreement, guarantee, note,
bond, mortgage, indenture, lease or other agreement, permit, franchise or license to which, as of the date of this Backstop Agreement, the Company is a party or by which the Company’s properties or assets are bound or (iii) any statute or
any judgment, order, rule or regulation of any court or governmental agency, taxing authority or regulatory body, domestic or foreign, having jurisdiction over the Company or any of its properties, except, in the case of clauses (ii) and (iii),
for defaults or violations that have not had and would not be reasonably likely to have, individually or in the aggregate, a Company Material Adverse Effect. 

(g)    Assuming the accuracy of the representations and warranties of Apollo Backstop Provider, the Company is not
required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization (including Nasdaq
Capital Market (the “Stock Exchange”)) or other person in connection with the execution, delivery and performance of this Backstop Agreement (including, without limitation, the issuance of the Backstop Shares), other than
(i) filings required by applicable state securities laws, (ii) the filing of the Registration Statement pursuant to Section 5 below, (iii) the filing of a Notice of Exempt Offering of Securities on Form D
with the United States Securities and Exchange Commission (“Commission”) under Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), if applicable, (iv) those required by the Stock
Exchange, including with respect to obtaining stockholder approval, (v) those required to consummate the Transaction as provided under the Transaction Agreement, (vi) the filing of notification under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, if applicable, and (vii) the failure of which to obtain would not be reasonably likely to have a Company Material Adverse Effect. 

(h)    As of their respective dates, all reports, statements, schedules, prospectuses or registration statements
(collectively, the “SEC Reports”) required to be filed by the Company with the Commission complied in all material respects with the applicable requirements of the Securities Act and/or the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the Form 10-K/A and all subsequently filed SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of
filing and fairly present in all material respects the financial position of the Company as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to
normal, year-end audit adjustments. A copy of each SEC Report is available to Apollo Backstop Provider via the Commission’s EDGAR system. The Company has timely filed, after giving effect to any extension
period, each report, statement, schedule, prospectus, and registration statement that the Company was required to file with the Commission since its initial registration of the Class A ordinary shares with the Commission. There are no material
outstanding or unresolved comments in comment letters from the staff of the Division of Corporation Finance of the Commission with respect to any of the SEC Reports. For the avoidance of doubt, any correction, change or restatement of the financial
statements of the Company shall not be deemed to be material if (i) the financial statements prior to giving effect to such correction, change or restatement were prepared in accordance with market practice for special purpose acquisition
companies at the time the financial statements were filed or included in an SEC Report and (ii) the correction, change or restatement solely implements guidance or rules that determine that such market practice did not comply with applicable
accounting requirements or the rules and regulation of the Commission with respect thereto. 
 (i)    Except for such
matters that would not have a Company Material Adverse Effect, there is no (i) suit, action, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the knowledge of the Company, threatened in writing against the
Company or (ii) judgment, decree, injunction, ruling or order of any governmental authority or arbitrator outstanding against the Company. 

  
 5 

 (j)    Assuming the accuracy of Apollo Backstop Provider’s
representations and warranties set forth in Section 4 of this Backstop Agreement, no registration under the Securities Act is required for the offer and sale of the Backstop Shares by the Company to Apollo Backstop
Provider. 
 (k)    Neither the Company nor any person acting on its behalf has engaged or will engage in any form of
general solicitation or general advertising (within the meaning of Regulation D) in connection with any offer or sale of the Backstop Shares or any other action that would reasonably be expected to subject the offering, issuance or sale of any of
the Backstop Shares to Apollo Backstop Provider pursuant to this Backstop Agreement to the registration requirements of the Securities Act. 

(l)    No broker or finder is entitled to any brokerage or finder’s fee or commission solely in connection with the
sale of the Backstop Shares to Apollo Backstop Provider 
 (m)    As of the date hereof, the Company’s Class A
ordinary shares, as a class, are registered pursuant to Section 12(b) of the Securities Exchange Act, and are listed for trading on the Stock Exchange under the symbol “AACQ.” There is no suit, action, proceeding or investigation
pending or, to the knowledge of the Company, threatened against the Company by the Stock Exchange or the Commission with respect to any intention by such entity to deregister the Class A ordinary shares or prohibit or terminate the listing of
the Class A ordinary shares on the Stock Exchange. The Company has taken no action that is designed to terminate the registration of the Class A ordinary shares under the Exchange Act. Following the Domestication, the Shares are expected
to be registered under the Exchange Act and listed for trading on the Stock Exchange. 
 (n)    As of the date of this
Backstop Agreement and as of immediately prior to the Closing Date (and without giving effect to the Domestication), the authorized capital stock of the Company consists of (i) 400,000,000 Class A ordinary shares, (ii) 50,000,000 Class B
ordinary shares, par value of $0.0001 per share (“Class B Shares”), and (iii) 1,000,000 preference Shares, par value $0.0001 per share (“Preference Shares”). As of the date hereof (i) 72,450,000 Class A ordinary shares
are issued and outstanding, (ii) 18,112,500 Class B Shares are issued and outstanding, (iii) no Preference Shares are issued and outstanding, and (iv) 24,150,000 public warrants and 11,326,667 private placement warrants of the Company are
issued and outstanding. All (i) issued and outstanding Class A ordinary shares and Class B Shares have been duly authorized and validly issued, are fully paid and are non-assessable and are not
subject to preemptive rights and (ii) outstanding warrants have been duly authorized and validly issued and are not subject to preemptive rights. As of the date hereof, other than as disclosed in the Company’s SEC Reports, there are no
outstanding options, warrants or other rights to subscribe for, purchase or acquire from the Company any Class A ordinary shares, Class B Shares or other equity interest in the Company, or securities convertible into or exchangeable or
exercisable for such equity interests. As of the date hereof the Company has no subsidiaries and does not own, directly or indirectly, interests or investments (whether equity or debt) in any person, whether incorporated or unincorporated. There are
no stockholder agreements, voting trusts or other agreements or understandings to which the Company is a party or by which it is bound relating to the voting of any securities of the Company, other than (A) as set forth in the SEC Reports and
(B) as contemplated by the Transaction Agreement. Except as disclosed in the SEC Reports, as of March 31, 2021, the Company had no outstanding indebtedness. 

Section 4    Apollo Backstop Provider Representations and Warranties. Apollo Backstop Provider
represents and warrants to the Company that: 
 (a)    Apollo Backstop Provider (i) is duly organized, validly
existing and in good standing under the laws of its jurisdiction of organization, incorporation or formation, and (ii) has the requisite power and authority to enter into and perform its obligations under this Backstop Agreement. 

(b)    This Backstop Agreement has been duly executed and delivered by Apollo Backstop Provider, and assuming the due
authorization, execution and delivery of the same by the Company, this Backstop Agreement shall constitute the valid and legally binding obligation of Apollo Backstop Provider, enforceable against Apollo Backstop Provider in accordance with its
terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws affecting creditors generally and by the availability of equitable remedies. 

(c)    The execution and delivery of this Backstop Agreement, the purchase of the Backstop Shares and the compliance by
Apollo Backstop Provider with the provisions of this Backstop Agreement and the consummation 

  
 6 

 
of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or
imposition of any lien, charge or encumbrance upon any of the property or assets of Apollo Backstop Provider pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to
which Apollo Backstop Provider is a party or by which Apollo Backstop Provider is bound or to which any of the property or assets of Apollo Backstop Provider is subject; (ii) the organizational documents of Apollo Backstop Provider; or
(iii) any statute or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over Apollo Backstop Provider or any of its properties that, in the case of
clauses (i) and (iii), would reasonably be expected to have a Apollo Backstop Provider Material Adverse Effect. For purposes of this Backstop Agreement, a “Apollo Backstop Provider Material Adverse Effect” means
an event, change, development, occurrence, condition or effect with respect to Apollo Backstop Provider that would reasonably be expected to have a material adverse effect on Apollo Backstop Provider’s ability to consummate the transactions
contemplated hereby, including the purchase of the Backstop Shares. 
 (d)    Apollo Backstop Provider (i) is a
“qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act), in each case, satisfying the
applicable requirements set forth on Annex A, (ii) is acquiring the Backstop Shares only for its own account and not for the account of others, or if Apollo Backstop Provider is subscribing for the Backstop Shares as a fiduciary or agent for
one or more investor accounts, each owner of such account is a “qualified institutional buyer” or an “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act), and Apollo Backstop
Provider has full investment discretion with respect to each such account, and the full power and authority to make the acknowledgements, representations and agreements herein on behalf of each owner of each such account, and (iii) is not
acquiring the Backstop Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and has provided the Company with the requested information on Annex A following the signature page
hereto). Apollo Backstop Provider is not an entity formed for the specific purpose of acquiring the Backstop Shares and is an “institutional account” as defined by FINRA Rule 4512(c). 

(e)    Apollo Backstop Provider understands that the Backstop Shares are being offered in a transaction not involving any
public offering within the meaning of the Securities Act and that the Backstop Shares have not been registered under the Securities Act. Apollo Backstop Provider understands that the Backstop Shares may not be offered, resold, transferred, pledged
or otherwise disposed of by Apollo Backstop Provider absent an effective registration statement under the Securities Act, except (i) to the Company or a subsidiary thereof, or (ii) pursuant to an applicable exemption from the registration
requirements of the Securities Act, and, in each of cases (i) and (ii), in accordance with any applicable securities laws of the applicable states and other jurisdictions of the United States, and that any certificates or book entry records
representing the Backstop Shares shall contain a restrictive legend to such effect. Apollo Backstop Provider acknowledges and agrees that the Backstop Shares will be subject to these securities law transfer restrictions and, as a result of these
transfer restrictions, Apollo Backstop Provider may not be able to readily resell the Backstop Shares and may be required to bear the financial risk of an investment in the Backstop Shares for an indefinite period of time. Apollo Backstop Provider
acknowledges and agrees that the Backstop Shares will not be eligible for offer, resale, transfer, pledge or disposition pursuant to Rule 144 promulgated under the Securities Act until at least one year from the filing of “Form 10
information” with the Commission after the Closing Date. Apollo Backstop Provider understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or transfer of any of the Backstop Shares. 

(f)    Apollo Backstop Provider understands and agrees that Apollo Backstop Provider is purchasing the Backstop Shares
directly from the Company. Apollo Backstop Provider further acknowledges that there have not been, and Apollo Backstop Provider hereby agrees that it is not relying on, any representations, warranties, covenants or agreements made to Apollo Backstop
Provider by the Company or any of its affiliates or any control persons, officers, directors, employees, partners, agents or representatives, any other party to the Transaction or any other person or entity, expressly or by implication, other than
those representations, warranties, covenants and agreements of the Company set forth in this Backstop Agreement. Apollo Backstop Provider acknowledges that certain information provided by the Company was based on projections, and such projections
were prepared based on assumptions and estimates that are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from
those contained in the projections. 

  
 7 

 (g)    In making its decision to purchase the Backstop Shares, Apollo
Backstop Provider has relied solely upon independent investigation made by Apollo Backstop Provider and the Company’s representations warranties and covenants contained herein. Apollo Backstop Provider has not relied on any statements or other
information provided by anyone other than the Company concerning the Company, the Transaction, the Backstop Shares or the offer and sale of the Backstop Shares. Apollo Backstop Provider acknowledges and agrees that Apollo Backstop Provider has
received and has had an adequate opportunity to review such financial and other information as Apollo Backstop Provider deems necessary in order to make an investment decision with respect to the Backstop Shares, including with respect to the
Company and the Transaction (including Micromidas and its subsidiaries (collectively, the “Acquired Companies”)) and made its own assessment and is satisfied concerning the relevant tax and other economic considerations relevant to
Apollo Backstop Provider’s investment in the Backstop Shares. Apollo Backstop Provider represents and agrees that Apollo Backstop Provider and Apollo Backstop Provider’s professional advisor(s), if any, have had the full opportunity to ask
such questions, receive such answers and obtain such information as Apollo Backstop Provider and such undersigned’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Backstop Shares.
Without limiting the generality of the foregoing, Apollo Backstop Provider acknowledges that it has reviewed the Company’s filings with the Commission. 

(h)    Apollo Backstop Provider became aware of this offering of the Backstop Shares solely by means of direct contact
between Apollo Backstop Provider and the Company and/or Micromidas, or their respective representatives or affiliates, and the Backstop Shares were offered to Apollo Backstop Provider solely by direct contact between Apollo Backstop Provider and the
Company and/or Micromidas, or their respective affiliates. Apollo Backstop Provider did not become aware of this offering of the Backstop Shares, nor were the Backstop Shares offered to Apollo Backstop Provider, by any other means. Apollo Backstop
Provider acknowledges that the Company represents and warrants that the Backstop Shares (i) were not offered by any form of general solicitation or general advertising and (ii) are not being offered in a manner involving a public offering
under, or in a distribution in violation of, the Securities Act, or any state securities laws. 
 (i)    Apollo Backstop
Provider acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Backstop Shares. Apollo Backstop Provider has such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of an investment in the Backstop Shares, and Apollo Backstop Provider has had an opportunity to seek, and has sought, such accounting, legal, business and tax advice as Apollo Backstop Provider has considered
necessary to make an informed investment decision. 
 (j)    Apollo Backstop Provider has adequately analyzed and fully
considered the risks of an investment in the Backstop Shares and determined that the Backstop Shares are a suitable investment for Apollo Backstop Provider and that Apollo Backstop Provider is able at this time and in the foreseeable future to bear
the economic risk of a total loss of Apollo Backstop Provider’s investment in the Company. Apollo Backstop Provider acknowledges specifically that a possibility of total loss exists. 

(k)    Apollo Backstop Provider understands and agrees that no federal or state agency has passed upon or endorsed the
merits of the offering of the Backstop Shares or made any findings or determination as to the fairness of this investment. 

(l)    Apollo Backstop Provider is not owned or controlled by or acting on behalf of (in connection with this
Transaction), a Sanctioned Person. Apollo Backstop Provider is not an institution that accepts currency for deposit and that (a) has no physical presence in the jurisdiction in which it is incorporated or in which it is operating and
(b) is unaffiliated with a regulated financial group that is subject to consolidated supervision (a “Shell Bank”) or providing banking services to a Shell Bank. Apollo Backstop Provider represents that if it is a financial
institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.), as amended by the USA PATRIOT Act of 2001 and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that Apollo Backstop Provider
maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act. Apollo Backstop Provider also represents that, to the extent required by applicable law, it maintains, either directly or through
the use of a third-party administrator, policies and procedures reasonably designed for the screening of any investors in Apollo Backstop Provider against Sanctions-related lists of blocked or restricted persons. Apollo Backstop Provider

  
 8 

 
further represents and warrants that (a) the funds held by Apollo Backstop Provider and used to purchase the Backstop Shares were not directly or indirectly derived from or related to any
activities that may contravene U.S. federal, state or non-U.S. anti-money laundering, anti-corruption or Sanctions laws and regulations or activities that may otherwise be deemed criminal and (b) any
returns from Apollo Backstop Provider’s investment will not be used to finance any illegal activities. For purposes of this Backstop Agreement, “Sanctioned Person” means at any time any person or entity with whom dealings are
restricted, prohibited, or sanctionable under any Sanctions (as defined below), including as a result of being: (a) listed on any Sanctions-related list of designated or blocked or restricted persons; (b) that is a national of, the
government of, or any agency or instrumentality of the government of, or resident in, or organized under the laws of, a country or territory that is the target of comprehensive Sanctions from time to time (as of the date of this Backstop Agreement,
Cuba, Iran, North Korea, Syria, and the Crimea region); or (c) a relationship of ownership, control, or agency with any of the foregoing. “Sanctions” means those trade, economic and financial sanctions laws, regulations,
embargoes, and restrictive measures (in each case having the force of law) administered, enacted or enforced from time to time by (a) the United States (including without limitation the U.S. Department of the Treasury, Office of Foreign Assets
Control, the U.S. Department of State, and the U.S. Department of Commerce), (b) the European Union and enforced by its member states, (c) the United Nations and (d) the United Kingdom. 

(m)    Apollo Backstop Provider is not owned or controlled by or acting on behalf of (in connection with this
Transaction), a person or entity resident in, or whose funds used to purchase the Backstop Shares are transferred from or through, a country, territory or entity that (i) has been designated as
non-cooperative with international anti-money laundering or counter terrorist financing principles or procedures by the United States or by an intergovernmental group or organization, such as the Financial
Action Task Force, of which the United States is a member; (ii) is the subject of an advisory issued by the Financial Crimes Enforcement Network of the U.S. Department of the Treasury; or (iii) has been designated by the Secretary of the
Treasury under Section 311 of the USA PATRIOT Act as warranting special measures due to money laundering concerns (any such country or territory, a “Non-cooperative Jurisdiction”), or an entity
or individual that resides or has a place of business in, or is organized under the laws of, a Non-cooperative Jurisdiction. 

(n)    Apollo Backstop Provider does not have, as of the date hereof, and during the
30-day period immediately prior to the date hereof Apollo Backstop Provider has not entered into, any “put equivalent position” as such term is defined in Rule
16a-1 under the Exchange Act or Short Sale positions with respect to the securities of the Company. Notwithstanding the foregoing, in the case of a Apollo Backstop Provider that is a multi-managed investment
vehicle whereby separate portfolio managers manage separate portions of Apollo Backstop Provider’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of
Apollo Backstop Provider’s assets, the representation set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Backstop Shares covered by this
Backstop Agreement. 
 (o)    Apollo Backstop Provider is not currently (and at all times through Closing will refrain
from being or becoming) a member of a “group” (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) including any group acting for the purpose of acquiring, holding, voting or
disposing of equity securities of the Company (within the meaning of Rule 13d-5(b)(1) under the Exchange Act). 

(p)    If Apollo Backstop Provider is an employee benefit plan that is subject to Title I of the Employee Retirement
Income Security Act of 1974, as amended (“ERISA”), a plan, an individual retirement account or other arrangement that is subject to section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) or an
employee benefit plan that is a governmental plan (as defined in section 3(32) of ERISA), a church plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4) of ERISA) or
other plan that is not subject to the foregoing but may be subject to provisions under any other federal, state, local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the
Code, or an entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement (each, a “Plan”) subject to the fiduciary or prohibited transaction provisions of ERISA or section
4975 of the Code, Apollo Backstop Provider represents and warrants that (i) neither the Company, nor any of its affiliates, including Artius Acquisition Partners, LLC (the “Transaction Parties”), has acted as the Plan’s
fiduciary, or has been relied on for advice, with respect to its decision to acquire and hold the Backstop Shares, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with respect to any decision to
acquire, continue to hold or transfer the Backstop Shares and (ii) the acquisition and holding of the Backstop Shares will not result in a non-exempt prohibited transaction under ERISA or
Section 4975 of the Code. 

  
 9 

 (q)    Apollo Backstop Provider has or has commitments to have, and, at
the time of payment of the Purchase Price in accordance with Section 2, will have sufficient funds to pay the Purchase Price pursuant to Section 2. 

(r)    No broker or finder is entitled to any brokerage or finder’s fee or commission solely in connection with the
sale of the Backstop Shares to Apollo Backstop Provider. 
 Section 5    Registration of Backstop Shares.

 (a)    The Company agrees that, within fifteen (15) Business Days after the Closing Date (the “Filing
Date”), the Company will file with the Commission (at the Company’s sole cost and expense) a registration statement registering the resale of the Backstop Shares (the “Registration Statement”), and the Company shall use
its commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof (and in any event, no later than sixty (60) calendar days following the Filing Date) (the
“Effectiveness Deadline”), provided, that the Effectiveness Deadline shall be extended to ninety (90) calendar days after the Filing Date if the Registration Statement is reviewed by, and comments thereto are provided from, the
Commission; provided, that if such day falls on a Saturday, Sunday or other day that the Commission is closed for business, the Effectiveness Deadline shall be extended to the next Business Day on which the Commission is open for business.
Notwithstanding the foregoing, if the Company is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed” or subject to further review, the Company shall use its
commercially reasonable efforts to have the Registration Statement declared effective within ten (10) Business Days of receipt of such notice. The Company will use its commercially reasonable efforts to provide a draft of the Registration
Statement to the undersigned for review (but not comment, other than reasonable comments with respect to information being provided by Apollo Backstop Provider for inclusion in the Registration Statement) at least two (2) Business Days in
advance of filing the Registration Statement; provided that, for the avoidance of doubt, in no event shall the Company be required to delay or postpone the filing of such Registration Statement as a result of or in connection with Apollo Backstop
Provider’s review. Notwithstanding the foregoing, if the Commission prevents the Company from including any or all of the Shares proposed to be registered under the Registration Statement due to limitations on the use of Rule 415 of the
Securities Act for the resale of the Backstop Shares by the applicable stockholders or otherwise, such Registration Statement shall register for resale such number of Backstop Shares which is equal to the maximum number of Backstop Shares as is
permitted by the Commission. In such event, the number of Backstop Shares to be registered for each selling stockholder named in the Registration Statement shall be reduced pro rata among all such selling stockholders. The Company agrees
that, except for such times as the Company is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement, the Company will use commercially reasonable efforts to cause such Registration Statement to remain
effective with respect to Apollo Backstop Provider until the earlier of (i) two (2) years from the issuance of the Backstop Shares, (ii) the date on which all of the Backstop Shares shall have been sold, or (iii) on the first date on
which the undersigned can sell all of its Backstop Shares (or Shares received in exchange therefor) under Rule 144 of the Securities Act without limitation as to the manner of sale or the amount of such securities that may be sold. For as long as
the Company is required to use commercially reasonable efforts to cause the Registration Statement to remain effective pursuant to the immediately preceding sentence, the Company will use commercially reasonable efforts to file all reports, and
provide all customary and reasonable cooperation, necessary to enable the undersigned to resell the Backstop Shares pursuant to the Registration Statement or Rule 144 of the Securities Act (when Rule 144 of the Securities Act becomes available to
the Company), as applicable, qualify the Backstop Shares for listing on the applicable stock exchange on which the Company’s Shares are then listed, and update or amend the Registration Statement as necessary to include the Backstop Shares. The
undersigned agrees to disclose its beneficial ownership, as determined in accordance with Rule 13d-3 of the Exchange Act, of Backstop Shares to the Company (or its successor) upon request to assist the Company
in making the determination described above. The Company’s obligations to include the Backstop Shares in the Registration Statement are contingent upon Apollo Backstop Provider furnishing in writing to the Company such information regarding
Apollo Backstop Provider, the securities of the Company held by Apollo Backstop Provider and the intended method of disposition of the Backstop Shares as shall be reasonably requested by the Company to effect the registration of the Backstop Shares,
and Apollo Backstop Provider shall execute such documents in connection with such registration as the Company may reasonably request that are customary of a selling stockholder in similar situations, including providing that the Company shall be
entitled to postpone and suspend the effectiveness 

  
 10 

 
or use of the Registration Statement during any customary blackout or similar period or as permitted hereunder; provided, that Apollo Backstop Provider shall not in connection with the foregoing
be required to execute any lock-up or similar agreement or otherwise be subject to any contractual restriction on the ability to transfer the Backstop Shares.. In the case of the registration effected by the
Company pursuant to this Backstop Agreement, the Company shall, upon reasonable request, inform Apollo Backstop Provider as to the status of such registration. In no event shall Apollo Backstop Provider be identified as a statutory underwriter in
the Registration Statement unless requested by the Commission. If the Commission requests that Apollo Backstop Provider be identified as a statutory underwriter in the Registration Statement, Apollo Backstop Provider shall have an opportunity to
withdraw from the Registration Statement. Apollo Backstop Provider shall not be entitled to use the Registration Statement for an underwritten offering of Backstop Shares. Notwithstanding anything to the contrary contained herein, the Company may
delay or postpone filing of such Registration Statement, and from time to time require Apollo Backstop Provider not to sell under the Registration Statement or suspend the use or effectiveness of any such Registration Statement if it determines that
in order for the registration statement to not contain a material misstatement or omission, an amendment thereto would be needed, or if such filing or use could materially affect a bona fide business or financing transaction of the Company or would
require premature disclosure of information that could materially adversely affect the Company (each such circumstance, a “Suspension Event”); provided, that, (w) the Company shall not so delay filing or so suspend the use of
the Registration Statement for a period of more than ninety (90) consecutive days or more than a total of one hundred- twenty (120) calendar days, in each case in any three hundred sixty (360) day period and (x) the Company shall
use commercially reasonable efforts to make such registration statement available for the sale by the undersigned of such securities as soon as practicable thereafter. 

(b)    At its expense, the Company shall advise Apollo Backstop Provider within two (2) Business Days: (i) of
the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation of any proceedings for such purpose; (ii) of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Backstop Shares included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and (iii) subject to the provisions in this Backstop Agreement, of the
occurrence of a Suspension Event. Notwithstanding anything to the contrary set forth herein, the Company shall not, when so advising Apollo Backstop Provider of such events, provide Apollo Backstop Provider with any material, non-public information regarding the Company other than to the extent that providing notice to Apollo Backstop Provider of the occurrence of such events would constitute material,
non-public information regarding the Company. 
 (c)    Upon receipt of any
written notice from the Company (which notice shall not contain any material non-public information regarding the Company) of the happening of any Suspension Event during the period that the Registration
Statement is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made (in the case of the prospectus) not misleading, the undersigned agrees that (i) it will immediately discontinue offers and sales of the Backstop Shares under the
Registration Statement (excluding, for the avoidance of doubt, sales conducted pursuant to Rule 144) until the undersigned receives copies of a supplemental or amended prospectus (which the Company agrees to promptly prepare) that corrects the
misstatement(s) or omission(s) referred to above and receives notice that any post-effective amendment has become effective or unless otherwise notified by the Company that it may resume such offers and sales, and (ii) it will maintain the
confidentiality of any information included in such written notice delivered by the Company unless otherwise required by law, subpoena or regulatory request or requirement. If so directed by the Company, the undersigned will deliver to the Company
or, in the undersigned’s sole discretion destroy, all copies of the prospectus covering the Backstop Shares in the undersigned’s possession; provided, however, that this obligation to deliver or destroy all copies of the
prospectus covering the Backstop Shares shall not apply (w) to the extent the undersigned is required to retain a copy of such prospectus (A) in order to comply with applicable legal, regulatory, self-regulatory or professional
requirements or (B) in accordance with a bona fide pre-existing document retention policy or (x) to copies stored electronically on archival servers as a result of automatic data back-up. 
 (d)    For purposes of this Section 5, “Backstop Shares”
shall mean, as of any date of determination, the Backstop Shares (as defined in the recitals to this Backstop Agreement) and any other equity security issued or issuable with respect to the Backstop Shares by way of share split, dividend,
distribution, recapitalization, merger, exchange, replacement or similar event, and “Apollo Backstop Provider” shall include any affiliate of the undersigned Apollo Backstop Provider to which the rights under this Section 5 shall have
been duly assigned. 

  
 11 

 (e)     

 

	 	(i)	 The Company agrees to indemnify, to the extent permitted by law, Apollo Backstop Provider (to the extent a
seller under the Registration Statement), its directors and officers, employees and agents, and each person who controls Apollo Backstop Provider (within the meaning of the Securities Act), to the extent permitted by law, against all losses, claims,
damages, liabilities and reasonable and documented out of pocket expenses (including reasonable and documented attorneys’ fees of one law firm (plus the fees of any local counsel)) caused by any untrue or alleged untrue statement of material
fact contained in, or incorporated by reference in, the Registration Statement, prospectus included in the Registration Statement (“Prospectus”) or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or
alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not misleading, except insofar as the same are
caused by or contained in any information furnished in writing to the Company by or on behalf of Apollo Backstop Provider expressly for use therein. 

  

	 	(ii)	 Apollo Backstop Provider shall, to the extent permitted by law, indemnify the Company, its directors and
officers, employees and agents, and each person or entity who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including, without limitation, reasonable and documented
outside attorneys’ fees) resulting from any untrue or alleged untrue statement of material fact contained in, or incorporated by reference in, the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or
supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, in the light of the circumstances under which they were made) not
misleading, but only to the extent that such untrue statement or omission is contained (or not contained in, in the case of an omission) in any information or affidavit so furnished in writing by or on behalf of Apollo Backstop Provider expressly
for use therein. In no event shall the liability of Apollo Backstop Provider be greater in amount than the dollar amount of the net proceeds received by Apollo Backstop Provider upon the sale of the Backstop Shares giving rise to such
indemnification obligation. Apollo Backstop Provider shall notify the Company promptly of the institution, threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this Section 5 of which Apollo
Backstop Provider is aware. 

  

	 	(iii)	 Any person or entity entitled to indemnification herein shall (A) give prompt written notice to the
indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s or entity’s right to indemnification hereunder to the extent such failure
has not prejudiced the indemnifying party) and (B) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties or separate defenses may exist with respect to such claim,
permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the
indemnified party without its consent (but such consent shall not be unreasonably withheld, delayed or conditioned). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees
and expenses of more than one counsel (plus any local counsel) for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of legal counsel to any indemnified party a conflict of interest
exists between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement
which cannot be settled 

  
 12 

	 	
in all respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement includes a statement or admission of
fault and culpability on the part of such indemnified party or which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or
litigation.

  

	 	(iv)	 The indemnification provided for under this Backstop Agreement shall remain in full force and effect regardless
of any investigation made by or on behalf of the indemnified party or any officer, director or controlling person or entity of such indemnified party and shall survive the transfer of the Backstop Shares purchased pursuant to this Backstop
Agreement. 

  

	 	(v)	 If the indemnification provided under this Section 5(e) from the indemnifying
party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall
contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified
party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by (or not made by, in the case of an omission), or relates to information supplied by (or not supplied by, in the case of an omission),
or on behalf of, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action. The amount paid or
payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in Sections 5(e)(i), (ii) and (iii) above, any legal
or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution pursuant to this Section 5(e)(v) from any person or entity who was not guilty of such fraudulent misrepresentation. Notwithstanding anything to the contrary herein, in no event will any party be liable for
consequential, special, exemplary or punitive damages in connection with this Backstop Agreement. Each indemnifying party’s obligation to make a contribution pursuant to this Section 5(e)(v) shall be individual, not
joint and several, and in no event shall the liability of any Apollo Backstop Provider hereunder be greater in amount than the dollar amount of the net proceeds received by such Apollo Backstop Provider upon the sale of the Backstop Shares giving
rise to such indemnification obligation. 

 (f)    If the Backstop Shares acquired hereunder are
eligible to be sold without restriction under, and without the requirement for the Company to be in compliance with the current public information requirements of, Rule 144 then at Apollo Backstop Provider’s request, the Company will reasonably
cooperate with the Company’s transfer agent, such that any remaining restrictive legend set forth on such Backstop Shares will be removed in connection with a sale of such Shares. 

Section 6    Short Sales. Apollo Backstop Provider hereby agrees that, from the date of this Backstop
Agreement until the earlier of the Closing or the termination of this Backstop Agreement, none of Apollo Backstop Provider, its controlled affiliates, or any person or entity acting on behalf of Apollo Backstop Provider or any of its controlled
affiliates or pursuant to any understanding with Apollo Backstop Provider or any of its controlled affiliates will engage in any Short Sales with respect to securities of the Company prior to the Closing. For purposes of this Backstop Agreement,
“Short Sales” shall include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all types of direct and indirect stock pledges (other than pledges in the
ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. Notwithstanding the foregoing, (i) nothing herein shall prohibit other entities under common management with Apollo Backstop Provider that have no knowledge
of this 

  
 13 

 
Backstop Agreement or of Apollo Backstop Provider’s participation in the Transaction (including Apollo Backstop Provider’s controlled affiliates and/or affiliates) from entering into
any Short Sales and (ii) in the case of a Apollo Backstop Provider that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions of such Apollo Backstop Provider’s assets and the portfolio managers
have no knowledge of the investment decisions made by the portfolio managers managing other portions of such Apollo Backstop Provider’s assets, the covenant set forth above shall only apply with respect to the portion of assets managed by the
portfolio manager that made the investment decision to purchase the Backstop Shares covered by this Backstop Agreement.  

Section 7    Termination. This Backstop Agreement shall terminate and be void and of no further force and
effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of either party in respect thereof, upon the earlier to occur of (a) such date and time as the Transaction Agreement is
terminated in accordance with its terms, (b) upon the mutual written agreement of the parties hereto to terminate this Backstop Agreement, or (c) if, on the Closing Date of the Transaction, any of the conditions to Closing set forth in
Section 2 of this Backstop Agreement have not been satisfied as of the time required hereunder to be so satisfied or waived by the party entitled to grant such waiver and, as a result thereof, the transactions contemplated by this Backstop
Agreement are not consummated, or (d) written notice by either party to the other party to terminate this Backstop Agreement if the transactions contemplated by this Backstop Agreement are not consummated on or prior to August 31, 2021;
provided, that nothing herein will relieve any party from liability for any intentional breach hereof prior to the time of termination, and each party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages
arising from such breach. The Company shall notify Apollo Backstop Provider of the termination of the Transaction Agreement promptly after the termination thereof. 

Section 8    Trust Account Waiver. Apollo Backstop Provider hereby acknowledges that the Company has
established a trust account (the “Trust Account”) containing the proceeds of its initial public offering (the “IPO”) and from certain private placements occurring simultaneously with the IPO (including interest
accrued from time to time thereon) for the benefit of the Company’s public stockholders and certain other parties (including the underwriters of the IPO). For and in consideration of the Company entering into this Backstop Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Apollo Backstop Provider hereby (a) agrees that it does not now and shall not at any time hereafter have any right, title, interest or claim of
any kind in or to any assets held in the Trust Account, and shall not make any claim against the Trust Account, regardless of whether such claim arises as a result of, in connection with or relating in any way to this Backstop Agreement or any other
matter, and regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability (any and all such claims are collectively referred to hereafter as the “Released Claims”), (b) irrevocably
waives any Released Claims that it may have against the Trust Account now or in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company, and (c) will not seek recourse against the Trust Account
for any reason whatsoever; provided, however, that nothing in this Section 8 shall be deemed to limit any Apollo Backstop Provider’s right to distributions from the Trust Account in accordance with the
Company’s amended and restated certificate of incorporation in respect of the Shares of the Company acquired by any means other than pursuant to this Backstop Agreement. 

Section 9    Miscellaneous. 

(a)    All notices, requests, demands, claims, and other communications hereunder shall be in writing. Any notice, request,
demand, claim, or other communication hereunder shall be deemed duly given (i) when delivered personally to the recipient, (ii) when sent by electronic mail (which is confirmed), on the date of transmission to such recipient;
(iii) one (1) Business Day after being sent to the recipient by reputable overnight courier service (charges prepaid), or (iv) four (4) Business Days after being mailed to the recipient by certified or registered mail, return receipt
requested and postage prepaid, and, in each case, addressed to the intended recipient at its address specified on the signature page hereof or to such electronic mail address or address as subsequently modified by written notice given in accordance
with this Section 9(a). A courtesy electronic copy of any notice sent by methods (i), (iii), or (iv) above shall also be sent to the recipient via electronic mail if provided in the applicable signature page hereof or
to an electronic mail address as subsequently modified by written notice given in accordance with this Section 9(a). 

(b)    Apollo Backstop Provider acknowledges that the Company, Micromidas and others will rely on the acknowledgments,
understandings, agreements, representations and warranties of Apollo Backstop Provider contained in this Backstop Agreement. Prior to the Closing, Apollo Backstop Provider agrees to promptly notify the Company

  
 14 

 
and Micromidas if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties of Apollo Backstop Provider set forth herein are no longer accurate
in all material respects. The Company acknowledges that Apollo Backstop Provider will rely on the acknowledgments, understandings, agreements, representations and warranties contained in this Backstop Agreement. Prior to the Closing, the Company
agrees to promptly notify Apollo Backstop Provider if it becomes aware that any of the acknowledgments, understandings, agreements, representations and warranties of the Company set forth herein are no longer accurate in all material respects. 

(c)    Each of the Company, Micromidas and Apollo Backstop Provider is irrevocably authorized to produce this Backstop
Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

(d)    Each of the Company and Apollo Backstop Provider shall pay all of its own expenses in connection with this Backstop
Agreement and the transactions contemplated herein. The Company shall be responsible for the fees of its transfer agent, stamp taxes and DTC fees associated with the issuance of the Backstop Shares. 

(e)    Neither this Backstop Agreement nor any rights that may accrue to Apollo Backstop Provider hereunder (other than the
Backstop Shares acquired hereunder, if any) may be transferred or assigned. Neither this Backstop Agreement nor any rights that may accrue to the Company hereunder may be transferred or assigned (provided, that, for the avoidance of doubt, the
Company may transfer the Backstop Agreement and its rights hereunder solely in connection with the consummation of the Transaction and exclusively to another entity under the control of, or under common control with, the Company). Notwithstanding
the foregoing, Apollo Backstop Provider may assign its rights and obligations under this Backstop Agreement to one or more of its affiliates (including other investment funds or accounts managed or advised by the investment manager who acts on
behalf of Apollo Backstop Provider or by an affiliate of such investment manager) or, with the Company’s prior written consent, to another person, provided that no such assignment shall relieve Apollo Backstop Provider of its obligations
hereunder if any such assignee fails to perform such obligations, unless the Company has given prior written consent to such relief. 

(f)    All the agreements, representations and warranties made by each party hereto in this Backstop Agreement shall
survive the Closing. 
 (g)    The Company may request from Apollo Backstop Provider such additional information as the
Company may reasonably deem necessary to evaluate the eligibility of Apollo Backstop Provider to acquire the Backstop Shares, and Apollo Backstop Provider shall promptly provide such information as may be reasonably requested. Apollo Backstop
Provider acknowledges that the Company may file a copy of a form of this Backstop Agreement with the Commission (and such copy shall not identify Apollo Backstop Provider and, if applicable, its investment adviser by name (except to the extent
required by the federal securities laws, exchange rules, the Commission or any other securities authorities or any rules and regulations promulgated thereby)) as an exhibit to a periodic report of the Company or a registration statement of the
Company. 
 (h)    This Backstop Agreement may not be amended, modified or waived except by an instrument in writing
signed by each of the parties hereto. 
 (i)    This Backstop Agreement and any
non-disclosure agreement entered into by the parties hereto constitute the entire agreement, and supersedes all other prior agreements, understandings, representations and warranties, both written and oral,
among the parties, with respect to the subject matter hereof. 
 (j)    Except as otherwise provided herein, this
Backstop Agreement is intended for the benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any
other person. Except as set forth in Section 9(b), Section 9(c) and this Section 9(j) with respect to the persons specifically referenced therein, this Backstop Agreement shall not
confer any rights or remedies upon any person other than the parties hereto, and their respective successor and assigns, and the parties hereto acknowledge that such persons so referenced are third party beneficiaries of this Backstop Agreement for
the purposes of, and to the extent of, the rights granted to them, if any, pursuant to the applicable provisions. 

  
 15 

 (k)    The parties hereto acknowledge and agree that irreparable damage
would occur in the event that any of the provisions of this Backstop Agreement were not performed in accordance with their specific terms or were otherwise breached and that money or other legal remedies would not be an adequate remedy for such
damage. It is accordingly agreed that the parties shall be entitled to equitable relief, including in the form of an injunction or injunctions to prevent breaches or threatened breaches of this Backstop Agreement and to enforce specifically the
terms and provisions of this Backstop Agreement, this being in addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise. The parties hereto acknowledge and agree that Micromidas shall be
entitled to rely on the provisions of the Backstop Agreement of which Micromidas is each an express third party beneficiary, in each case, on the terms and subject to the conditions set forth herein. The parties hereto further acknowledge and agree:
(x) to waive any requirement for the security or posting of any bond in connection with any such equitable remedy; (y) not to assert that a remedy of specific enforcement pursuant to this Section 9(j) is
unenforceable, invalid, contrary to applicable law or inequitable for any reason; and (z) to waive any defenses in any action for specific performance, including the defense that a remedy at law would be adequate. 

(l)    In any dispute arising out of or related to this Backstop Agreement, or any other agreement, document, instrument
or certificate contemplated hereby, or any transactions contemplated hereby or thereby, the applicable adjudicating body shall award to the prevailing party, if any, the documented
out-of-pocket costs and attorneys’ fees reasonably incurred by the prevailing party in connection with the dispute and the enforcement of its rights under this
Backstop Agreement or any other agreement, document, instrument or certificate contemplated hereby and, if the adjudicating body determines a party to be the prevailing party under circumstances where the prevailing party won on some but not all of
the claims and counterclaims, the adjudicating body may award the prevailing party an appropriate percentage of the documented out-of-pocket costs and attorneys’
fees reasonably incurred by the prevailing party in connection with the adjudication and the enforcement of its rights under this Backstop Agreement or any other agreement, document, instrument or certificate contemplated hereby or thereby. 

(m)    If any provision of this Backstop Agreement shall be invalid, illegal or unenforceable, the validity, legality or
enforceability of the remaining provisions of this Backstop Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. 

(n)    No failure or delay by a party hereto in exercising any right, power or remedy under this Backstop Agreement, and
no course of dealing between the parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under this Backstop Agreement by a party hereto, nor any
abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a
party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Backstop Agreement shall entitle the party receiving such notice or demand
to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to any other or further action in any circumstances without such notice or demand. 

(o)    This Backstop Agreement may be executed and delivered in one or more counterparts (including by facsimile or
electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be construed together and shall constitute
one and the same agreement. 
 (p)    This Backstop Agreement shall be governed by, and construed in accordance with,
the laws of the State of New York, without regard to the principles of conflicts of laws that would otherwise require the application of the law of any other state. 

(q)    EACH PARTY AND ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY HEREBY WAIVES ITS RESPECTIVE RIGHTS TO A
TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OR RELATED TO THIS BACKSTOP AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY PARTY AGAINST ANY OTHER
PARTY OR ANY AFFILIATE OF ANY OTHER SUCH PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE. THE PARTIES AGREE THAT ANY SUCH  

  
 16 

 
CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY
OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS BACKSTOP AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS BACKSTOP AGREEMENT. 
 (r)    The parties agree that all
disputes, legal actions, suits and proceedings arising out of or relating to this Backstop Agreement must be brought exclusively in the United States District Court for the Southern District of New York, the Supreme Court of the State of New York
and the federal or state appellate courts located in the State of New York (collectively the “Designated Courts”). Each party hereby consents and submits to the exclusive jurisdiction of the Designated Courts. No legal action, suit
or proceeding with respect to this Backstop Agreement may be brought in any other forum. Each party hereby irrevocably waives all claims of immunity from jurisdiction, and any objection which such party may now or hereafter have to the laying of
venue of any suit, action or proceeding in any Designated Court, including any right to object on the basis that any dispute, action, suit or proceeding brought in the Designated Courts has been brought in an improper or inconvenient forum or venue.
Each of the parties also agrees that delivery of any process, summons, notice or document to a party hereof in compliance with Section 9(a) of this Backstop Agreement shall be effective service of process for any action,
suit or proceeding in a Designated Court with respect to any matters to which the parties have submitted to jurisdiction as set forth above. 

(s)    This Backstop Agreement may only be enforced against, and any claim, action, suit or other legal proceeding based
upon, arising out of, or related to this Backstop Agreement, or the negotiation, execution or performance of this Backstop Agreement, may only be brought against the entities that are expressly named as parties or third party beneficiaries hereto
and then only with respect to the specific obligations set forth herein with respect to such party or third party beneficiary. No past, present or future director, officer, employee, incorporator, manager, member, partner, stockholder, affiliate,
agent, attorney or other representative of any party hereto or of any affiliate of any party hereto, or any of their successors or permitted assigns, shall have any liability for any obligations or liabilities of any party hereto under this Backstop
Agreement or for any claim, action, suit or other legal proceeding based on, in respect of or by reason of the transactions contemplated hereby. 

(t)    Notwithstanding anything in this Backstop Agreement to the contrary, the Company shall have the right to publicly
disclose the name of Apollo Backstop Provider, its investment adviser or any of their respective affiliates, Apollo Backstop Provider’s beneficial ownership of the Backstop Shares, or the nature of Apollo Backstop Provider’s commitments,
arrangements and understandings under and relating to this Backstop Agreement in any press release issued by the Company, any Form 8-K filed by the Company with the Commission in connection with the execution
and delivery of this Backstop Agreement and any registration statement filed or amended on or after the date hereof; provided, however, that the Company shall provide Apollo Backstop Provider with prior written notice of any such
disclosure and shall reasonably consult with Apollo Backstop Provider regarding such disclosure. Apollo Backstop Provider will promptly provide any information reasonably requested by the Company for any regulatory application or filing made or
approval sought in connection with the Transaction (including filings with the Commission). 
 (u)    If any change in
the Shares shall occur between the date of this Backstop Agreement and immediately prior to the Closing by reason of any reclassification, recapitalization, stock split (including reverse stock split) or combination, exchange or readjustment of
Shares, or any stock dividend, the number of Backstop Shares issued to Apollo Backstop Provider shall be appropriately adjusted to reflect such change. 

(v)    Apollo Backstop Provider shall not redeem any shares of the Company in connection with the Special Meeting. 

[Signature pages follow.] 

  
 17 

 IN WITNESS WHEREOF, each of the Company and Apollo Backstop Provider has executed or
caused this Backstop Agreement to be executed by its duly authorized representative as of the date first set forth above. 
  

			
	ARTIUS ACQUISITION INC.

 
			
		
	By:	 	  

 
			
		
	Name:	 	Boon Sim
	Title	 	Chief Executive Officer
	
	Address for Notices
	
	 3 Columbus Circle, Suite 2215

New York, New York 10019

	
	ATTN: Boon Sim, Chief Executive Officer
	
	with a copy (not to constitute notice) to:
	
	CLEARY GOTTLIEB STEEN & HAMILTON LLP
	ONE LIBERTY PLAZA, NEW YORK NY 10006
		
	ATTN:	 	Paul J. Shim
		 	Adam J. Brenneman
		
	EMAIL:	 	pshim@cgsh.com
		 	abrenneman@cgsh.com

  
 18 

			
	[APOLLO ENTITY]
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	Address for Notices:
	
	Name in which Shares are to be registered:

  

					
	 Number of Subscribed Shares subscribed for:
	  			
		  	  
	  
	 
	 Price Per Subscribed Share:
	  	$	10.00	 
	 Aggregate Purchase Price:
	  	$	 	 
		  	  
	  
	 

 You must pay the Purchase Price by wire transfer of United States dollars in immediately available funds to the account of the
Company specified by the Company in the Closing Notice. 
 [Signature page - Apollo Backstop Agreement] 

  
 19 

 ANNEX A 

ELIGIBILITY REPRESENTATIONS OF APOLLO BACKSTOP PROVIDER 

This Annex A should be completed and signed by Apollo Backstop Provider 

and constitutes a part of the Backstop Agreement. 
  

	A.	 QUALIFIED INSTITUTIONAL BUYER STATUS (Please check the box, if applicable) 

 

	 	☐	 Apollo Backstop Provider is a “qualified institutional buyer” (as defined in Rule 144A under the
Securities Act). 

  

	B.	 ACCREDITED INVESTOR STATUS (Please check the box) 

 

	 	☐	 Apollo Backstop Provider is an “accredited investor” (within the meaning of Rule 501(a)(1), (2), (3)
or (7) under the Securities Act) and has marked and initialed the appropriate box below indicating the provision under which it qualifies as an “accredited investor.” 

 

	C.	 AFFILIATE STATUS (Please check the applicable box) 

APOLLO BACKSTOP PROVIDER: 
  

	 	☐	 is:      ☐         is not:

 an “affiliate” (as defined in Rule 144 under the Securities Act) of the Company or acting on behalf of an
affiliate of the Company. 
 Rule 501(a), in relevant part, states that an “accredited investor” shall mean any person who comes
within any of the below listed categories, or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that person. Apollo Backstop Provider has indicated, by marking and
initialing the appropriate box below, the provision(s) below which apply to Apollo Backstop Provider and under which Apollo Backstop Provider accordingly qualifies as an “accredited investor.” 

 

	 	☐	 Any bank, registered broker or dealer, insurance company, registered investment company, business development
company, or small business investment company; 

  

	 	☐	 Any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of
a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 

  

	 	☐	 Any employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a
bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5,000,000; 

  

	 	☐	 Any corporation, similar business trust, partnership or any organization described in Section 501(c)(3) of
the Internal Revenue Code, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; or 

  

	 	☐	 Any trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is
directed by a sophisticated person. 

  

			
	[APOLLO ENTITY]

 
			
		
	By:	 	  

		 	Name:
		 	Title

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00329-of-00352.parquet"}]]