Document:

EX-10.1

 Exhibit 10.1 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT 10.1 BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE
COMPETITIVE HARM TO MIRAGEN THERAPEUTICS, INC. IF PUBLICLY DISCLOSED. THE REDACTED PORTIONS ARE MARKED AS [***]. 
 LICENSE
AGREEMENT 
 THIS LICENSE AGREEMENT (“Agreement”) is made effective as of the 12th day of October, 2020 (the
“Effective Date”), by and between Viridian Therapeutics, Inc., a Delaware corporation with a place of business at 213 Crescent St., Building 17, Suite 102B, Waltham, MA 02453 (“Licensee”) and
ImmunoGen, Inc., a Massachusetts corporation with offices at 830 Winter Street, Waltham, MA 02451-1477, USA (“ImmunoGen”). Licensee and ImmunoGen may, from
time-to-time, be individually referred to as a “Party” and collectively referred to as the “Parties”. 

RECITALS 
 WHEREAS,
ImmunoGen Controls the Licensed Technology (hereinafter defined); and 
 WHEREAS, Licensee wishes to obtain, and ImmunoGen wishes to grant
to Licensee, certain licenses under the Licensed Technology on the terms and conditions set forth herein. 
 NOW, THEREFORE, in
consideration of the mutual agreements and covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which the Parties hereby acknowledge, the Parties, intending to be legally bound hereby, agree to the
foregoing and as follows: 
  

	1.	 DEFINITIONS. 

  

	 	1.1.	 “Additional Information” is defined in Section 13.2 (Press Releases).

  

	 	1.2.	 “Additional Third Party Patent Rights” is defined in Section 2.1.3(a) (Additional
Third Party Rights). 

  

	 	1.3.	 “Adverse Event” means any untoward medical occurrence in a human patient or subject who
is administered a product, whether or not considered related to the product, including, without limitation, any undesirable sign (including abnormal laboratory findings of clinical concern), symptom or disease associated with the use of such
product. 

  

	 	1.4.	 “Affiliate” means, with respect to a Party, any Person that, on the Effective Date or
during the Term, controls, is controlled by, or is under common control with that Party. For the purpose of this definition, “control” will refer to: (a) the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of an entity, whether through the ownership of voting securities or other ownership interest, by contract or otherwise, or (b) the ownership, directly or indirectly, of at least fifty percent (50%) of
the combined voting power of the securities or other ownership interest of such entity. A Person will be deemed an Affiliate only so long as it satisfies the foregoing definition. In the case of Licensee, Fairmount Funds Management LLC will not be
considered an Affiliate for purposes of this Agreement. 

	 	1.5.	 “Agreement” is defined in the introduction to this Agreement. 

 

	 	1.6.	 “Annual Net Sales” means, with respect to any Product in a Calendar Year during the
applicable Royalty Term for such Product, the aggregate Net Sales by a Party, its Affiliates and its Sublicensees from the sale of such Product in the Territory during such Calendar Year. 

 

	 	1.7.	 “Antibody” means a molecule comprising or containing one or more immunoglobulin
variable domains or any fragments, derivatives, variants or modifications thereof that bind to the same antigen. 

  

	 	1.8.	 “Applicable Law” means any applicable law, statute, rule, regulation, order, judgment,
ordinance or guideline of any governmental authority, including rules and regulations of the Securities Exchange Commission and any listing requirements of any securities exchange or market applicable to a Party. 

 

	 	1.9.	 “AVE1642” means the humanized antibody to human
IGF-1R comprising the variable region light chain and heavy chain amino acid sequence set forth in Schedule 1.22 (EM164 v1.0Variable Regions DNA and Amino Acid Sequences). 

 

	 	1.10.	 “Bankruptcy Code” is defined in Section 12.3 (Termination for a Bankruptcy Event).

  

	 	1.11.	 “Bankruptcy Event” is defined in Section 12.3 (Termination for a Bankruptcy
Event). 

  

	 	1.12.	 “BLA” means (a) a Biologic License Application (as defined by Applicable Law)
submitted to the FDA for authorization to market a pharmaceutical product, and (b) any foreign equivalents thereof as submitted to the applicable Regulatory Authorities in other countries or regulatory jurisdictions in the Territory (as
applicable). 

  

	 	1.13.	 “Business Day” means any day other than a Saturday, a Sunday or a day on which
commercial banks located in Boston, Massachusetts are authorized or required by Applicable Law to remain closed. 

  

	 	1.14.	 “Calendar Quarter” means the respective periods of three consecutive calendar months
ending on March 31, June 30, September 30 and December 31. 

  

	 	1.15.	 “Calendar Year” means any 12 month period commencing on January 1.

  

	 	1.16.	 “CDA” means the Mutual Confidential Disclosure Agreement effective July 24, 2020
by and between the Parties. 

  
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	 	1.17.	 “Change of Control” means, with respect to a Party, that: (a) any Third Party
acquires directly or indirectly the beneficial ownership of any voting securities of such Party, or if the percentage ownership of such Third Party in the voting securities of such Party is increased through stock redemption, cancellation, or other
recapitalization, and immediately after such acquisition or increase such Third Party is, directly or indirectly, the beneficial owner of voting securities representing more than 50% of the total voting power of all of the then outstanding voting
securities of such Party; (b) any merger, consolidation, recapitalization, or reorganization of such Party is consummated that would result in the shareholders or equity holders of such Party immediately prior to such transaction owning less than
50% of the outstanding voting securities of the surviving entity (or its parent entity) immediately following such transaction; (c) the shareholders or equity holders of such Party approve any plan of complete liquidation of such Party, or an
agreement for the sale or disposition by such Party of all or substantially all of such Party’s assets, in each case, through one or more related transactions, other than to an Affiliate or pursuant to one or more related transactions that
would result in shareholders or equity holders of such Party immediately prior to such transaction owning more than 50% of the outstanding voting securities of the surviving entity (or its parent entity) immediately following such transaction; or
(d) the sale or transfer to any Third Party, in one or more related transactions, of all or substantially all of such Party’s consolidated assets taken as a whole. 

 

	 	1.18.	 “Claims” is defined in Section 10.1 (Indemnification by Licensee).

  

	 	1.19.	 “Commercialize” or “Commercialization” means to manufacture for sale,
market, promote, distribute, offer for sale, sell, import, have imported, export, have exported or otherwise commercialize a compound or product. When used as a noun, “Commercialization” means any and all activities involved in
Commercializing. 

  

	 	1.20.	 “Commercially Reasonable Efforts” means, with respect to the Development or
Commercialization of a Product, that level of efforts and resources commonly dedicated by a similarly situated company in the pharmaceutical or biotechnology industry to the development or commercialization, as the case may be, of a product of
similar commercial potential at a similar stage in its lifecycle, in each case taking into account issues of safety and efficacy, product profile, the proprietary position, the then-current competitive environment for such product, and the likely
timing of such product’s entry into the market, the regulatory environment and the status of such product, and other relevant scientific, technical and commercial factors. Commercially Reasonable Efforts includes, with respect to diligence
obligations pursuant to Section 3.2 (Diligence), that one (a) assign responsibility for such diligence obligations to specific employees who are held accountable for progress and monitor such progress, (b) set and seek to achieve
objectives for carrying out such diligence obligations, and (c) make and implement decisions and allocate resources designed to advance progress with respect to such objective. 

  
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	 	1.21.	 “Compliance Laws” is defined in Section 9.5 (Representations, Warranties and
Covenants related to Compliance Laws). 

  

	 	1.22.	 “Compound” means (a) the monoclonal antibody to human IGF-1R that exists as of the Effective Date, which is designated by ImmunoGen as “EM164” or “huEM164” and the amino acid sequences of the variable region light chain and heavy chains of which are
set forth on Schedule 1.22 (EM164 v1.0Variable Regions DNA and Amino Acid Sequences) or (b) any Antibody derived from the monoclonal antibody or amino acid sequence described in (a) by modification thereof, including, without limitation,
chimeric, humanized and fully human versions thereof, including AVE1642 (huEM164 v1.0). For purposes of this Agreement, “Compound” does not include bi-specific antibodies, multi-specific antibodies,
diabodies and other polypeptides that bind to one or more antigens in addition to IGF-1R. 

  

	 	1.23.	 “Confidential Information” means, with respect to each Party, all information and
materials (whether or not patentable) regarding such Party’s technology, products, or business that is communicated in any way or form by or on behalf of such Party (in such capacity, the “Disclosing Party”) to the other Party
(in such capacity, the “Receiving Party”) or to any of the Receiving Party’s or its Affiliates’ employees, consultants or advisors (collectively, “Representatives”), either prior to or after the Effective
Date of this Agreement (including any information disclosed pursuant to the CDA), and whether or not such other information or material is identified as confidential at the time of disclosure. Confidential Information includes the Licensed Know-How and any other information designated as such in this Agreement. 

  

	 	1.24.	 “Control” or “Controlled” means, with respect to any Intellectual
Property Rights, the legal authority or right (whether by ownership, license or otherwise) of a Party to grant a license or a sublicense of or under such Intellectual Property Rights to the other Party or provide such data or other information to
such other Party without breaching the terms of any agreement with a Third Party. Notwithstanding the foregoing, a Party and its Affiliates will not be deemed to “Control” any Intellectual Property Rights that, prior to the
consummation of a Change of Control of such Party, are owned or in-licensed by a Third Party that becomes an Affiliate of such acquired Party (or that merges or consolidates with such Party) after the
Effective Date as a result of such Change of Control. 

  

	 	1.25.	 “Develop” or “Development” means to conduct any and all research and
development activities (including related manufacturing activities) necessary to obtain Regulatory Approval. 

  

	 	1.26.	 “Development Milestone” is defined in Section 4.2 (Development Milestone
Payments). 

  

	 	1.27.	 “Development Milestone Payment” is defined in Section 4.2 (Development Milestone
Payments). 

  
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	 	1.28.	 “Disclosing Party” is defined in Section 1.23 (Confidential Information).

  

	 	1.29.	 “Dispute” is defined in Section 14.1 (Arbitration). 

 

	 	1.30.	 “Effective Date” is defined in the introduction to this Agreement.

  

	 	1.31.	 “FDA” means the United States Food and Drug Administration, or a successor federal
agency thereto. 

  

	 	1.32.	 “Field” means the treatment, prevention, diagnosis, control and maintenance of non-oncology indications. 

  

	 	1.33.	 “First Commercial Sale” means the first sale of the Product by Licensee or
Licensee’s Affiliate or Sublicensee to a Third Party in a country in the Territory following receipt of Regulatory Approval for such Product in such country or, if no such Regulatory Approval or similar approval is required, the date on which
the Product is first commercially launched in such country. “First Commercial Sale” will not include: (a) sales in a country occurring prior to receipt of Regulatory Approval of the Product in such country, such as so-called “treatment IND sales,” “named patient sales” and “compassionate use sales”; (b) Products sold for use in clinical trials, or (c) transfers to Sublicensees or intercompany
transfers to Licensee’s Affiliates. 

  

	 	1.34.	 [***] 

  

	 	1.35.	 [***]. 

  

	 	1.36.	 “GAAP” means United States generally accepted accounting principles, consistently
applied. 

  

	 	1.37.	 “Government Official” is defined in Section 9.5 (Representations, Warranties and
Covenants related to Compliance Laws). 

  

	 	1.38.	 “ImmunoGen Indemnitees” is defined in Section 10.1 (Indemnification by Licensee).

  

	 	1.39.	 “IND” means: (a) an investigational new drug application filed with the FDA for
authorization for the investigation of a Product, and (b) any of its foreign equivalents as filed with the applicable Regulatory Authorities in other countries or regulatory jurisdictions in the Territory, as applicable. 

 

	 	1.40.	 “Intellectual Property Rights” means all trade secrets, copyrights, Patent Rights,
trademarks, moral rights, know-how, proprietary materials and any and all other intellectual property or proprietary rights in any jurisdiction. 

 

	 	1.41.	 “Know-How” means any proprietary information,
including records, discoveries, improvements, modifications, processes, techniques, methods, assays, designs, protocols, formulas, data (toxicology data, animal data, raw data, clinical data, and

  
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analytical and quality control data), dosage regimens, results in any form whatsoever, know-how and trade secrets (in each case, patentable, copyrightable
or otherwise). 

  

	 	1.42.	 “Knowledge” means, for purposes of Section 9.2 (Representations and Warranties by
ImmunoGen), the actual knowledge of the following ImmunoGen employees: Theresa Wingrove (SVP Regulatory Affairs and Quality), Joseph Kenny (VP, Acting GC, IP, and Secretary), and Stacy Coen (SVP Chief Business Officer). 

 

	 	1.43.	 “Licensed Know-How” means any Know-How that is confidential when provided, Controlled by ImmunoGen or any of its Affiliates as of the Effective Date, and is (a) contained or embodied in the Licensed Material or (b) related to the
Compound or Products and readily available to ImmunoGen in ImmunoGen’s records. 

  

	 	1.44.	 “Licensed Material” means all materials and documents (and all information contained in
such documents) and Regulatory Filings Controlled by ImmunoGen or its Affiliates as of the Effective Date that are listed in Schedule 1.44 (Licensed Material). 

 

	 	1.45.	 “Licensed Patent Rights” means all Patents Rights that are Controlled by
ImmunoGen or its Affiliates as of the Effective Date or during the Term that claim the composition of matter, method of using or manufacturing, formulation or other attributes of any Compound or Product. Notwithstanding the foregoing, Licensed
Patent Rights will not include any Additional Third Party Patent Rights unless and until Licensee elects to obtain a sublicense under such Additional Third Party Patent Rights and agrees to pay all resulting amounts owed to the Third Party licensor
thereof as provided in Section 2.1.3 (Additional Third Party Patent Rights). The Licensed Patent Rights existing as of the Effective Date include the Patent Rights listed on Schedule 1.45 (Licensed Patent Rights). 

 

	 	1.46.	 “Licensed Technology” means, collectively, the Licensed
Know-How, Licensed Patent Rights and Licensed Material. 

  

	 	1.47.	 “Major EU Market Country” means [***]. 

 

	 	1.48.	 “Major Market Country” means [***]. 

 

	 	1.49.	 “Manufacture” or “Manufacturing” means (a) to make, produce,
manufacture, process, fill, finish, package, label, perform quality assurance testing, release, ship or store a compound or product or any component thereof and (b) to engage a Third Party to have any of the foregoing done on one’s behalf.
When used as a noun, “Manufacture” or “Manufacturing” means any and all activities involved in Manufacturing a compound or product or any component thereof. 

 

	 	1.50.	 “Milestone Payments” means, collectively, the Development Milestone Payments and Sales
Milestone Payments. 

  

	 	1.51.	 “Net Sales” means [***]. 

  
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	 	1.52.	 “Non-Royalty Sublicense Income” means [***].

  

	 	1.53.	 “Party” and “Parties” is defined in the introduction to this
Agreement. 

  

	 	1.54.	 “Patent Rights” means any and all (a) issued patents, (b) pending patent
applications, including all provisional applications, divisions, continuations, substitutions, continuations-in-part and renewals, and all patents granted thereon, (c) patents-of-addition, re-examinations, reissues and extensions or restorations by existing or future extension or restoration
mechanisms, including patent term adjustments, patent term extensions, supplementary protection certificates or the equivalent thereof, (d) inventor’s certificates, (e) other forms of government-issued rights substantially similar to
any of the foregoing and (f) United States and foreign counterparts of any of the foregoing. 

  

	 	1.55.	 “Person” means an individual, corporation, partnership, limited liability company,
trust, business trust, association, joint stock company, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein. 

 

	 	1.56.	 “Phase 1b Clinical Trial” means a clinical trial, or arm thereof, of an investigational
product in patients (a) with the primary objective of characterizing its safety, tolerability, and pharmacokinetics and identifying a recommended dose and regimen for future studies as described in 21 C.F.R. 312.21(a), as amended from time to
time, or a comparable clinical trial prescribed by the relevant Regulatory Authority in a country other than the United States and (b) with the additional purpose of identifying a recommended dose for a Phase 2 Clinical Trial or Pivotal
Clinical Trial based on the review of the maximum tolerated dose during the dose escalation phase together with additional data and safety considerations obtained during the expansion phase. 

 

	 	1.57.	 “Pivotal Clinical Trial” means any clinical study designed to be used as a pivotal
study for purposes of seeking Regulatory Approval, which study is conducted on sufficient numbers of human patients to establish that a pharmaceutical product is safe and efficacious for its intended use, to define warnings, precautions, and adverse
reactions that are associated with the pharmaceutical product in the dosage range to be prescribed, and at a standard suitable to obtain Regulatory Approval of such pharmaceutical product in any country within the Territory or label expansion of
such pharmaceutical product. A Pivotal Clinical Trial will include without limitation a trial designated as a pivotal “Phase 3 Clinical Trial.” A trial designated as a “Phase 2b Clinical Trial” may also be deemed a “Pivotal
Clinical Trial” only if and when a Party receives guidance from the applicable Regulatory Authority that the results of such trial may be used to support the filing of a BLA for a Product. 

 

	 	1.58.	 “PRC” means the People’s Republic of China, which, for purposes of this Agreement,
does not include Hong Kong Special Administrative Region, Macau Special Administrative Region, or Taiwan. 

  
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	 	1.59.	 “Product” means any product that includes or incorporates the Compound in any and all
dosage forms and formulations that is not a radiopharmaceutical conjugate. 

  

	 	1.60.	 “Prosecution Activities” is defined in Section 6.2.1 (Acknowledgment).

  

	 	1.61.	 “Receiving Party” is defined in Section 1.23 (Confidential Information).

  

	 	1.62.	 “Regulatory Approval” means any technical, medical, scientific or other license,
registration, authorization or approval of any Regulatory Authority in any regulatory jurisdiction (including any approval of a BLA) with respect to any pharmaceutical product and any indication, necessary to market and sell such pharmaceutical
product for such indication. 

  

	 	1.63.	 “Regulatory Authority” means any governmental agency or authority responsible for
granting Regulatory Approvals for a Product in the Territory. 

  

	 	1.64.	 “Regulatory Exclusivity” means, with respect to any Product in any country or
jurisdiction in the Territory, the period of time during which: (a) a Party or its Affiliate or Sublicensee has been granted the exclusive legal right by a Regulatory Authority, other than through a Patent Right, including orphan drug
exclusivity, pediatric exclusivity, rights conferred in the U.S. under the FD&C Act, rights in the EU under Directive 2001/83/EC, or rights similar thereto in other countries or regulatory jurisdictions in the Territory, or is otherwise entitled
to the exclusive legal right by operation of Applicable Law in such country to market and sell such Product, and such right precludes the receipt of Regulatory Approval of any Third Party product that is deemed to be the same or a similar drug, in
each case, under applicable orphan drug regulations; or (b) the data and information submitted by a Party or its Affiliate or Sublicensee to the relevant Regulatory Authority in such country or jurisdiction for purposes of obtaining Regulatory
Approval of such Product may not be disclosed, referenced, or relied upon in any way by any Third Party or such Regulatory Authority to support the Regulatory Approval or marketing of any product by any Third Party in such country or jurisdiction,
or if such data and information is disclosed, referenced, or relied upon to support a Regulatory Approval granted to any Third Party in such country or jurisdiction, then the product may not be placed on the market for any indication.

  

	 	1.65.	 “Regulatory Filings” means, with respect to a Product, any submission to a Regulatory
Authority of any appropriate regulatory application or approval, including, without limitation, any IND, BLA, any submission to a regulatory advisory board, any marketing authorization application, and any supplement or amendment thereto.

  

	 	1.66.	 “Relevant Records” is defined in Section 5.1 (Relevant Records).

  

	 	1.67.	 “Review Period” is defined in Section 13.3 (Publications). 

 

	 	1.68.	 “Royalties” is defined in Section 4.4 (Royalty Payments). 

  
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	 	1.69.	 “Royalty Term” means, on a Product-by-Product and country-by-country basis, the period of time from the First Commercial Sale of such Product in such
country until [***]. 

  

	 	1.70.	 “Sales Milestone” is defined in Section 4.3 (Sales Milestone Payments).

  

	 	1.71.	 “Sales Milestone Payment” is defined in Section 4.3 (Sales Milestone Payments).

  

	 	1.72.	 “Sales Threshold” is defined in Section 4.3 (Sales Milestone Payments).

  

	 	1.73.	 [***] 

  

	 	1.74.	 “Serious Adverse Event” means any Adverse Event occurring at any dose that:
(a) results in death or threatens life; (b) results in persistent or significant disability/incapacity; (c) results in or prolongs hospitalization; (d) results in congenital anomaly or birth defect; or (e) is otherwise
medically significant. 

  

	 	1.75.	 “Sublicensee” means any Third Party to whom Licensee or an Affiliate of Licensee grants
or has granted, directly or indirectly, a sublicense of rights licensed by ImmunoGen to Licensee under this Agreement. For clarity, a contract research organization, a contract manufacturing organization, or similar vendors or service providers
shall not be regarded as a Sublicensee under this Agreement. 

  

	 	1.76.	 “Term” is defined in Section 12.1 (Term). 

 

	 	1.77.	 “Territory” means worldwide. 

 

	 	1.78.	 “Third Party” means any Person other than a Party or an Affiliate of a Party.

  

	 	1.79.	 “Third Party Infringement” is defined in Section 7.1 (Notification).

  

	 	1.80.	 “Third Party Royalties” is defined in Section 4.5.1 (Third Party Royalty Offset).

  

	 	1.81.	 “Upfront Payment” is defined in Section 4.1 (Upfront Payment).

  

	 	1.82.	 “Valid Claim” means with respect to a particular country, a claim of a Patent Right
within the Licensed Patent Rights that (a) with respect to an issued and unexpired patent, (i) has not been held permanently revoked, unenforceable or invalid by a decision of a court or other governmental authority of competent jurisdiction, which
decision is unappealed or unappealable within the time allowed for appeal and (ii) has not expired or been cancelled, withdrawn, abandoned, disclaimed or admitted to be invalid or unenforceable through reissue, disclaimer or otherwise or (b) a claim
of a pending patent application included within the Licensed Patent Rights that has not been (i) cancelled, withdrawn or abandoned without being refiled in another application in the applicable jurisdiction or (ii) finally rejected by an
administrative agency action from which no appeal can be taken or that has not been appealed within the time allowed for appeal, provided that any claim in any patent application pending for more than seven years from the date of the first

  
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response on the merits received from the relevant patent office regarding such application will cease to be a Valid Claim unless and until such claim issues, at which time such claim will again
become a Valid Claim so long as it satisfies the requirements of clause (a) of this definition. 

  

	2.	 LICENSE GRANT. 

 

	 	2.1.	 License Grant. 

 

	 	2.1.1.	 Licensed Patent Rights. Subject to the terms and conditions of this Agreement, ImmunoGen hereby
grants to Licensee an exclusive, sublicensable (subject to Section 2.1.3(d) (Additional Third Party Patent Rights)), non-transferable (except as expressly permitted in this Agreement), royalty-bearing
license under the Licensed Patent Rights solely to Develop, Manufacture, and Commercialize Products (and Compounds to the extent included or incorporated, or intended to be included or incorporated, in a Product) in the Field within the Territory.

  

	 	2.1.2.	 Licensed Material and Licensed Know-How.
Subject to the terms and conditions of this Agreement, ImmunoGen hereby grants to Licensee an exclusive, sublicensable (subject to Section 2.1.3(d) (Additional Third Party Patent Rights)), royalty-bearing right and license to use the
Licensed Material and Licensed Know-How solely to Develop, Manufacture, and Commercialize Products (and Compounds to the extent included or incorporated, or intended to be included or incorporated, in a
Product) in the Field within the Territory. 

  

	 	2.1.3.	 Additional Third Party Patent Rights. 

 

	 	(a)	 If during the Term the Licensee identifies any Patent Rights other than the Licensed Patent Rights that
(i) are licensed to ImmunoGen or an Affiliate of ImmunoGen after the Effective Date pursuant to an agreement that permits ImmunoGen to grant a sublicense under such Patent Rights and (ii) cover the composition of matter of the Product or
Compound, their use in the Field, or their Manufacture (“Additional Third Party Patent Rights”), then Licensee may provide written notice to ImmunoGen and upon receipt of such notice, ImmunoGen will reasonably consult with Licensee
in relation to the Additional Third Party Patent Rights and, to the extent permitted under the relevant Third Party license agreement, will provide Licensee with a copy of such agreement. If and to the extent that (x) ImmunoGen agrees that such
Additional Third Party Patent Rights meet the criteria in subsection (ii) above, such agreement not to be unreasonably withheld, (y) Licensee, in its sole discretion, elects to receive a sublicense under the Additional Third Party Patent
Rights, and (z) such Third Party license 

  
 10 

	 	
agreement permits ImmunoGen to sublicense the Additional Third Party Patent Rights, then ImmunoGen will grant, or cause its applicable Affiliate to grant, subject to the terms and conditions of
the relevant Third Party license agreement and to the extent permitted by such Third Party license agreement, a non-exclusive, sublicensable (subject to Section 2.1.3(d) (Additional Third Party Patent
Rights)), sublicense under the Additional Third Party Patent Rights to Develop, Manufacture, and Commercialize the Compound and Products in the Field within the Territory on the terms of this Agreement. 

 

	 	(b)	 Where Licensee has elected to obtain a sublicense pursuant to Section 2.1.3(a) (Additional Third Party
Patent Rights), Licensee will pay to ImmunoGen, any and all royalties, milestones or similar payments due to a Third Party pursuant to the terms of the relevant Third Party license agreement to the extent that such payment obligation arises out of
the exploitation by the Licensee of those licensed rights, which payment Licensee will make to ImmunoGen no later than the date such payment becomes due under the applicable Third Party license agreement. 

 

	 	(c)	 If Licensee obtains a sublicense under any Additional Third Party Patent Rights, then Licensee will comply with
all the terms and conditions of the Third Party license agreement pursuant to which the sublicense under the Additional Third Party Patent Rights has been granted. 

 

	 	(d)	 If Licensee obtains such a license under Additional Third Party Patent Rights and fails to comply with any of
the terms or conditions of such Third Party license agreement or fails to make any payment to ImmunoGen required by this Section 2.1.3 (Additional Third Party Patent Rights) when due, then ImmunoGen may terminate the sublicense under the
Additional Third Party Patent Rights by providing written notice thereof to Licensee.  

  

	 	2.1.4.	 Sublicense Rights. Licensee will have the right to grant sublicenses under the rights granted to it
under Section 2.1 (License Grant) hereof with respect to any Product to any Sublicensee, provided that (a) each such sublicense will be consistent with the terms and conditions of this Agreement, (b) Licensee will provide ImmunoGen a
true and complete copy of each sublicense agreement and each amendment thereto, which sublicense agreement and amendments thereto may be redacted to omit information not directly relevant to the performance of Licensee’s obligations under this
Agreement within 30 days after the sublicense or amendment has been executed, (c) Licensee will require each 

  
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Sublicensee to comply with Licensee’s obligations under this Agreement applicable to such sublicense and will be responsible and directly liable to ImmunoGen for any failure by its
Sublicensees to comply with the terms and conditions of this Agreement, and (d) Licensee will remain responsible for the payment to ImmunoGen of all Milestone Payments and royalties payable with respect to the activities and Net Sales of any
Sublicensee. In no event will any sublicense relieve Licensee of any obligations under this Agreement.  

  

	 	2.2.	 Transfer of Licensed Materials and Licensed
Know-How. Promptly following the Effective Date, ImmunoGen will provide the Licensed Materials and Licensed Know-How to Licensee. If Licensee identifies
Licensed Know-How that was not delivered on the Effective Date, Licensee may request and ImmunoGen shall deliver to Licensee such Licensed Know-How, provided, that
Licensee is permitted to make a reasonable number of requests within six months following the Effective Date, and ImmunoGen will only be required to deliver Licensed Know-How that is readily available to
ImmunoGen in ImmunoGen’s records. The Licensed Materials and Licensed Know-How will be considered ImmunoGen’s Confidential Information for the purposes of this Agreement. Licensee may use the
Licensed Materials and Licensed Know-How solely as licensed in Section 2.1.2 (Licensed Materials and Licensed Know-How) and will not use the Licensed Materials and
Licensed Know-How for any other purpose. Licensed Materials and Licensed Know-How are provided by ImmunoGen on an
“as-is” basis without representation or warranty of any type, express or implied, including any representation or warranty of merchantability,
non-infringement, title or fitness for a particular purpose, each of which is hereby disclaimed by ImmunoGen. In connection with the foregoing, Licensee agrees that (a) it will not use Licensed Materials
provided under this Agreement in any human subject; (b) it will use Licensed Materials in compliance with all Applicable Laws; (c) except as expressly provided in this Agreement, it does not acquire any right, title or interest in or to
Licensed Materials as a result of such provision by ImmunoGen; and (d) upon termination (but not expiration)of this Agreement for any reason, Licensee will, if and as instructed by ImmunoGen, either destroy or return Licensed Materials and
Licensed Know-How provided under this Agreement that are not the subject of a continuing license hereunder. Without limiting the generality of the foregoing, except as expressly set forth in this Agreement or
in other written authorization by ImmunoGen, Licensee will not make or attempt to make analogues, progeny or derivatives of, or modifications to, the Licensed Materials, and Licensee will not use Licensed Materials for the benefit of any Third Party
or of its own internal research programs, other than the research program related to Products. Licensee may transfer Licensed Materials to any Affiliate or Sublicensee under terms obligating such Affiliate or Sublicensee not to use or transfer such
Licensed Materials except in compliance with this Agreement. 

  

	 	2.3.	 Retained Rights. Licensee acknowledges and agrees that ImmunoGen retains the right to (a) make,
have made, use and import the Compound for all purposes other than the research, manufacture, development, use or commercialization of 

  
 12 

	 	
Products, (b) use the Licensed Patent Rights, Licensed Know-How, and Licensed Materials to develop, make, have made, use, sell, offer for sale, import
or otherwise commercialize any product that is not a Product, and (c) use the Licensed Patent Rights, Licensed Know-How, and Licensed Material for purposes other than those exclusively licensed to
Licensee under this Agreement, and in each case ((a) through (c)) may grant licenses to Third Parties to do the same. Licensee acknowledges that ImmunoGen has granted to a Third Party an exclusive license under the Licensed Patent Rights, Licensed Know-How, and Licensed Materials to Develop, Manufacture, and Commercialize radiopharmaceutical products that include or incorporate the Compound. 

 

	 	2.4.	 No Implied Rights. Except as expressly provided in this Agreement, ImmunoGen will not be deemed,
by estoppel, implication or otherwise, to have granted Licensee any license or other right with respect to any Intellectual Property Rights of ImmunoGen. 

  

	3.	 DEVELOPMENT; COMMERCIALIZATION; MANUFACTURING. 

 

	 	3.1.	 General. From and after the Effective Date, Licensee will have sole authority over, responsibility for,
and control of the Development, Manufacture, Regulatory Approval, and Commercialization of the Products, and will bear all costs associated with such Development, Manufacture, Regulatory Approval, and Commercialization. 

 

	 	3.2.	 Diligence. 

 

	 	3.2.1.	 Development. Licensee will use Commercially Reasonable Efforts to Develop at least one Product
and obtain Regulatory Approval for at least one Product in the United States and at least two Major Market Countries. Any actions taken by Licensee’s Affiliates or Sublicensees under this Agreement will be treated as actions taken by Licensee
in regard to satisfaction of the requirements of this Section 3.2.1 (Development).  

  

	 	3.2.2.	 Commercialization. Licensee will use Commercially Reasonable Efforts to Commercialize a given
Product in each Major Market Country where Licensee or its designated Affiliates or Sublicensees receive Regulatory Approval for such Product. 

  

	 	3.2.3.	 Remedies for Breach of Diligence Obligations. A material breach of any of the obligations of Licensee
under Sections 3.2.1 (Development) and 3.2.2 (Commercialization) will be deemed a material breach of this Agreement under Section 12.2 (Termination for Cause). 

 

	 	3.3.	 Regulatory Filings. In connection with its efforts to Develop a Product, Licensee will bear all
responsibility and expense for submitting Regulatory Filings and obtaining Regulatory Approval for the Product. 

  
 13 

	 	3.4.	 Development Reporting. On a quarterly basis until all Development Milestone Payments have been
paid to ImmunoGen, Licensee will provide ImmunoGen with reasonably detailed written reports that summarize Licensee’s efforts and achievements with regard to the Development of Products in the Field in the Territory, which report will identify
the applications for Regulatory Approval that Licensee or its Affiliates or Sublicensees have filed, sought, or attempted to obtain in the prior 12-month period, and any they reasonably expect to file, seek,
or attempt to obtain in the following 12-month period. After all Development Milestone Payments have been paid to ImmunoGen, on an annual basis Licensee will provide ImmunoGen with reasonably detailed written
reports as set forth in this Section 3.4 (Development Reporting) to the extent such information is available to Licensee. 

  

	4.	 PAYMENT TERMS. 

 

	 	4.1.	 Upfront Payment. In consideration of the licenses and rights granted to Licensee hereunder,
Licensee will pay to ImmunoGen a one-time, upfront, non-refundable and non-creditable payment of [***] within 10 days of the
Effective Date (“Upfront Payment”). 

  

	 	4.2.	 Development Milestone Payments. Within 10 Business Days following the first occurrence of each
event (each, a “Development Milestone”) described below for the first Product that achieves such milestone, Licensee will provide written notice to ImmunoGen identifying the Development Milestone achieved, and Licensee will pay to
ImmunoGen the amount set forth below within 45 days of receipt of ImmunoGen’s invoice with respect to such Development Milestone (each such amount, a “Development Milestone Payment”) to be payable only once regardless of how
many Products achieve such Development Milestone.  

  

			
	 DEVELOPMENT MILESTONE
	  	DEVELOPMENT
MILESTONE PAYMENT
	 (1) [***]
	  	[***]
	 (2) [***]
	  	[***]
	 (3) [***]
	  	[***]
	 (4) [***]
	  	[***]
	 (5) [***]
	  	[***]
	 (6) [***]
	  	[***]
	 (7) [***]
	  	[***]

  
 14 

 [***] 
  

	 	4.3.	 Sales Milestone Payments. Licensee will pay to ImmunoGen the following one-time payments (each, a “Sales Milestone Payment”) when aggregate Annual Net Sales of a Product in the Territory in a Calendar Year first reach the respective threshold (a “Sales
Threshold”) indicated below (each, a “Sales Milestone”): 

  

			
	 SALES MILESTONE
	  	SALES MILESTONE PAYMENT
	 Total Annual Net Sales at least equal [***]
	  	[***]
	 Total Annual Net Sales at least equal [***]
	  	[***]
	 Total Annual Net Sales at least equal [***]
	  	[***]

 Any Sales Milestone Payment with respect to any Calendar Year will be payable within 30 days of the end of the
Calendar Quarter in which such Milestone was achieved. Each Sales Milestone Payment is payable a maximum of one time only, regardless of the number of times a Product achieves a particular Sales Threshold or the number of Products that achieve a
particular Sales Threshold. All Sales Milestone Payments will be nonrefundable and noncreditable. For clarity, in no event shall more than [***] be owed by Licensee under this Section 4.3, regardless of the number of times any Sales Milestone
may be achieved by all Products. 
  

	 	4.4.	 Royalty Payments. With respect to each Product and subject to the provisions of Sections 4.5
(Royalty Adjustments) and this Section 4.4 (Royalty Payments), Licensee will pay ImmunoGen royalties in the amount of the applicable rates (“Marginal Royalty Rates”) set forth below of Annual Net Sales of such Product during
the Royalty Term (collectively, “Royalties”): 

  

			
	 ANNUAL NET SALES
	  	MARGINAL ROYALTY RATE
	 Annual Net Sales of such Product during a given Calendar Year up to and including [***]
	  	[***]%
	 Annual Net Sales of such Product during a given Calendar Year above [***], up to and including
[***]
	  	[***]%
	 Annual Net Sales of such Product during a given Calendar Year above [***]
	  	[***]%

 Each Marginal Royalty Rate set forth above will apply only to that portion of the Annual Net Sales of a
given Product in the Territory during a given Calendar Year that falls within the indicated range. 

  
 15 

	 	4.5.	 Royalty Adjustments. 

 

	 	4.5.1.	 Third Party Royalty Offset. Subject to Section 4.5.3 (Royalty Floor) hereof, if Licensee or
any of its Affiliates enters into a license agreement with a Third Party after the Effective Date pursuant to which it obtains a license under Patent Rights owned or Controlled by such Third Party that would, but for such license, be infringed by
the making, using, or selling of the Product in any country in the Territory and in consideration of such license actually pays royalties to such Third Party (“Third Party Royalties”), then Licensee may reduce the royalties
otherwise due to ImmunoGen pursuant to Section 4.4 (Royalty Payments) hereof with respect to Net Sales in such country of such Products in such Calendar Quarter by an amount equal to [***] of the amount of such Third Party Royalties. For
purposes of clarity, the term “Third Party Royalties” includes only running royalties paid on sales, and does not include any lump-sum license fees, milestone payments, or sublicense income sharing
payments or any amount paid for any Intellectual Property Rights other than Patent Rights that would, but for such license, be infringed by the making, using, or selling of the Product. 

 

	 	4.5.2.	 Expiration of Valid Claims. Subject to Section 4.5.3 (Royalty Floor) hereof, on a Product-by-Product basis and as applicable, in the United States or the PRC, if there is no Valid Claim of a Licensed Patent Right that Covers the composition of matter,
method of use, or method of Manufacturing of such Product in the United States or the PRC, then, commencing the first Calendar Quarter after the date on which this Section 4.5.2 (Expiration of Valid Claims) applies and for all Calendar Quarters
thereafter during which this Section 4.5.2 (Expiration of Valid Claims) applies, the applicable royalty rate that would otherwise be owed on such Net Sales of such Product in the United States or the PRC under Section 4.4 (Royalty
Payments) will be reduced by [***] (for example, an [***] royalty rate would be reduced to a [***] royalty rate); provided that if the composition of matter, method of use, or method of Manufacturing of such Product subsequently becomes Covered by a
Valid Claim of a Licensed Patent Right in the United States or the PRC prior to the [***] anniversary of the date of the First Commercial Sale of such Product in the United States or the PRC, then the applicable royalty rate that would otherwise be
owed on such Net Sales of such Product in the United States or the PRC will no longer be subject to the aforementioned reduction beginning at the commencement of the first Calendar Quarter after the date on which the relevant patent issues.

  

	 	4.5.3.	 Royalty Floor. Notwithstanding anything in this Agreement to the contrary, the reductions to
royalties provided in Sections 4.5.1 (Third 

  
 16 

	 	
Party Royalty Offset) and Section 4.5.2 (Expiration of Valid Claims), will not, individually or in the aggregate, reduce the royalties payable with respect to Net Sales of any Product sold
by Licensee, its Affiliates and its Sublicensees in any country during the Royalty Term by more than [***] of the royalties that otherwise would have been owed to ImmunoGen pursuant to Section 4.4 (Royalty Payments), without giving effect to
any royalty reduction provided in Section 4.5.1 (Third Party Royalty Offset) and Section 4.5.2 (Expiration of Valid Claims). 

  

	 	4.6.	 Net Sales Reports. Commencing with the Calendar Quarter during which the First Commercial
Sale of a Product is made anywhere in the Territory, Licensee will provide ImmunoGen with Net Sales reports as follows: 

  

	 	4.6.1.	 Within 10 days after the end of a Calendar Quarter (to the extent such information is available to
Licensee), a written preliminary report setting forth the Net Sales for such Calendar Quarter, which report will include the actual Net Sales for the first two months of the applicable Calendar Quarter (subject to any adjustments to be included in
the final report under the following Section 4.6.2 (Net Sales Reports)) and a nonbinding, good faith estimate with respect to the Net Sales for the third month of such Calendar Quarter. 

 

	 	4.6.2.	 Within 45 days after the end of each Calendar Quarter, Licensee will deliver to ImmunoGen a report
setting forth for such Calendar Quarter the following information, on a Product-by-Product and
country-by-country basis: (i) the gross sales (if available) and the Net Sales of each Product (specifying in reasonable detail the deductions to gross sales used
to calculate Net Sales), (ii) the basis for any adjustments to the royalty payable for the sale of each Product pursuant to Section 4.5 (Royalty Adjustments), (iii) the applicable exchange rate to convert each country’s currency to U.S.
Dollars under Section 4.11 (Currency) hereof and (iv) the royalties due hereunder for the sale of each Product. The total royalty due for the sale of Products during such Calendar Quarter will be remitted at the time such report is
delivered. 

  

	 	4.7.	 [***]. Licensee will reimburse ImmunoGen for [***] of all royalty payments paid by ImmunoGen to [***]
(or any successor or assign) pursuant to that certain [***] as a result of Licensee’s or its Affiliates or Sublicensees’ Net Sales of Products pursuant to this Agreement; provided that in no event will such reimbursement obligation exceed
an aggregate of [***] of Net Sales of Product in any Calendar Quarter. ImmunoGen will invoice Licensee for such reimbursement on a quarterly basis, and Licensee will pay ImmunoGen such amounts within 30 days of invoice. 

 

	 	4.8.	 Cumulative Royalties. The obligation to pay royalties under Section 4.4 (Royalty Payments)
will be imposed only once with respect to a single unit of a Product regardless of how many Valid Claims in Patent Rights included within the Licensed Patent Rights would, but for this Agreement, be infringed by the use or sale of such Product in
the country in which such Product is used or sold. 

  
 17 

	 	4.9.	 Sublicense Income. If Licensee grants a sublicense under the rights granted to them under
Section 2.1 (License Grants) hereof to a Third Party, then Licensee will pay to ImmunoGen, an amount equal to [***] of all Non-Royalty Sublicense Income that it receives in consideration of such
sublicense. Licensee will make such payment to ImmunoGen no later than 30 days after it receives any payment of Non-Royalty Sublicense Income. Licensee will provide ImmunoGen with a written summary of its
calculation of the Non-Royalty Sublicense Income at the time of such payment, and at ImmunoGen’s request the Parties will discuss such calculation in good faith. 

 

	 	4.10.	 Late Payments. Subject to the other terms of this Agreement, any payments hereunder not paid
within the applicable time period set forth herein will bear interest from the due date until paid in full, at a rate per annum equal to the lesser of (a) 1% per month, compounded monthly, or (b) the maximum interest rate permitted by
Applicable Law in regard to such payments, calculated in each case from the date such payment was due through to the date on which payment is actually made; provided, however, that with respect to any disputed payments, no interest will be due until
such dispute is resolved and the interest that will be payable thereon will be based on the finally-resolved amount of such payment, calculated from the original date on which the disputed payment was due through the date on which payment is
actually made. Such payments when made will be accompanied by all interest so accrued. Such interest and the payment and acceptance thereof will not negate or waive the right of ImmunoGen to any other remedy, legal or equitable, to which it may be
entitled because of the delinquency of the payment. 

  

	 	4.11.	 Currency. Any payments under this Article 4 (Payment Terms) that are recorded in currencies other
than the United States Dollar will be converted into United States Dollars at the average of the daily foreign exchange rates published in the Wall Street Journal (or any other qualified source that is acceptable to both Parties) for
the Calendar Quarter in which such payments or expenses occurred, or for periods less than a Calendar Quarter, the average of the daily rates published in the Wall Street Journal for such period. 

 

	 	4.12.	 Taxes. All payments made by Licensee to ImmunoGen hereunder will be made without set-off or counterclaim and free and clear of any taxes, duties, levies, fees or charges. As both ImmunoGen and Licensee are U.S. entities, the Parties do not anticipate that any tax withholding will be required on
any payment due under this Agreement. However, if Licensee assigns this Agreement as permitted by Section 15.1 (Assignment) and as a result of such assignment any tax (other than any tax based on income to ImmunoGen) is required to be withheld
and deducted from payments by Licensee pursuant to this Agreement under Applicable Law, then notwithstanding anything to the contrary herein, Licensee will make such deduction and withholding and will pay such additional amounts as may be necessary
to 

  
 18 

	 	
ensure that ImmunoGen receives the amount it would have received had no such withholding applied (including any withholding imposed in respect of such additional amounts), and any amounts so
withheld and deducted will be remitted by Licensee on a timely basis to the appropriate governmental authority for the account of ImmunoGen and Licensee will provide ImmunoGen reasonable evidence of the remittance within 30 days thereof.

  

	5.	 REPORTING; RECORDS; AUDIT RIGHTS. 

 

	 	5.1.	 Adverse Events. Licensee will provide ImmunoGen with (i) notice of Serious Adverse Event and
product complaint information relating to any Product and any product containing any Licensed Technology (if applicable) that is compiled and prepared by or on behalf of Licensee or its Affiliates and Sublicensees in the normal course of business in
connection with the Development, Commercialization or sale of any such product, within time frames consistent with reporting obligations under Applicable Law and (ii) upon ImmunoGen’s reasonable request, all other Adverse Event information
with respect to such products and all other safety data and information relevant to an analysis or investigation of such Adverse Events; provided, however, that the foregoing will not require Licensee to violate any agreements with or
confidentiality obligations owed to any Third Party. 

  

	 	5.2.	 Relevant Records. Licensee will keep and maintain, and require its Affiliates and Sublicensees to keep
and maintain, accurate books of account and records in connection with the sale of Products, in sufficient detail to permit accurate determination of all figures necessary for verification of royalties to be paid hereunder consistent with GAAP,
including any records required to calculate any royalty adjustments hereunder (“Relevant Records”). Licensee will maintain, and require its Affiliates and Sublicensees to maintain, such records for a period of at least three years
after the end of the Calendar Year in which they were generated.  

  

	 	5.3.	 Audit Request. ImmunoGen will have the right during the Term and for three years thereafter to
engage, at its own expense, an independent auditor reasonably acceptable to Licensee to examine the Relevant Records from time-to-time, but no more frequently than once
every 12 months, as may be necessary to verify compliance with the terms of this Agreement. Such audit will be requested in writing at least seven days in advance, and will be conducted during Licensee’s normal business hours, at the
facility(ies) where such records are maintained and otherwise in a manner that minimizes any interference to Licensee’s business operations. 

  

	 	5.4.	 Audit Fees and Expenses. Upon 30 days prior written notice from ImmunoGen, Licensee will permit
an independent certified public accounting firm of internationally recognized standing selected by ImmunoGen and reasonably acceptable to Licensee to examine, at ImmunoGen’s sole expense, the relevant books and records of Licensee, its
Affiliates and Sublicensees during the period covered by such examination, as may be reasonably necessary to verify the accuracy of the reports submitted by Licensee in accordance with Article 4

  
 19 

	 	
(Payment Terms) hereof and the payment of royalties hereunder. An examination by ImmunoGen under this Section 5.4 (Audit Fees and Expenses) will occur not more than once in any
Calendar Year and will be limited to the pertinent books and records for any Calendar Year ending not more than three years before the date of the request. The accounting firm will be provided access to such books and records at the facilities where
such books and records are kept and such examination will be conducted during normal business hours. Licensee may require the accounting firm and its personnel involved in such audit to sign a reasonable and customary
non-disclosure agreement as to any confidential information which is to be provided to such accounting firm or to which such accounting firm will have access while conducting the audit under this
Section 5.4 (Audit Fees and Expenses) before providing the accounting firm access to Licensee’s facilities or records. Upon completion of the audit, the accounting firm will provide both ImmunoGen and Licensee a written report disclosing
whether the reports submitted by Licensee are correct or incorrect, whether the royalties paid are correct or incorrect and, in each case, the specific details concerning any discrepancies. Such accounting firm may not reveal to ImmunoGen any
information learned in the course of such audit other than the amount of any such discrepancies. Licensee and ImmunoGen will each have the right to request a further determination by such accounting firm as to matters which such Party disputes
within 30 days following receipt of such report. The Party initiating a dispute will provide the other Party and the accounting firm with a reasonably detailed statement of the grounds upon which it disputes any findings in the written report and
the accounting firm will undertake to complete such further determination within 30 days after the dispute notice is provided, which determination will be limited to the disputed matters and provided to both Parties. The Parties will use reasonable
efforts, through the participation of finance representatives of both Parties, to resolve any dispute arising in relation to the audit by good faith discussion. The results of any such audit, reflecting the accounting firm’s determination of
any disputed matters, will be binding on both Parties.  

  

	 	5.5.	 Payment of Deficiency. If such accounting firm concludes that additional royalties were due to
ImmunoGen, Licensee will pay the additional royalties (plus interest thereon at the rate provided in Section 4.9 (Late Payments) hereof) within 30 days of the date Licensee receives such accountant’s written report so concluding. If such
underpayment exceeds [***] of the royalties that were to be paid, Licensee also will reimburse ImmunoGen for all reasonable charges of such accountants for conducting the audit. If such accounting firm concludes that Licensee overpaid royalties,
ImmunoGen will repay such amount in full within 30 days of the receipt of such accountant’s report. 

  

	6.	 INTELLECTUAL PROPERTY RIGHTS. 

 

	 	6.1.	 Pre-existing IP. Subject only to the rights expressly
granted to the other Party under this Agreement, each Party will retain all rights, title and interests in and to any Intellectual Property Rights that are owned by or licensed or sublicensed to such Party prior to or independent of this
Agreement.  

  
 20 

	 	6.2.	 Patent Prosecution. 

 

	 	6.2.1.	 Acknowledgment. Licensee acknowledges that pursuant to the [***], ImmunoGen has granted [***]
the first right to (a) prosecute all pending and new patent applications included within the Licensed Patent Rights, (b) respond to oppositions, nullity actions, re-examinations, revocation
actions and similar proceedings filed by Third Parties against the issuance of such Patent Rights for such applications and (c) maintain in force any issued Licensed Patent Rights (collectively, “Prosecution Activities”). As
between the Parties, subject to the rights ImmunoGen has granted to [***] pursuant to the [***], ImmunoGen will be responsible for Prosecution Activities. Licensee further acknowledges that ImmunoGen has also granted [***] certain rights to enforce
the Licensed Patent Rights pursuant to the [***]. 

  

	 	6.2.2.	 Abandonment of Applications. ImmunoGen will provide Licensee with notice in the event that [***]
ImmunoGen decide to abandon a patent or patent application within the Licensed Patent Rights. In such event, Licensee may, by written notice to ImmunoGen, elect to continue the maintenance or prosecution of the patent or patent application at
Licensee’s sole expense but in ImmunoGen’s name, and such patent or patent application will continue to be within the Licensed Patent Rights for all purposes of this Agreement. 

 

	 	6.2.3.	 Costs. [***]. 

 

	 	6.2.4.	 Liability. To the extent that ImmunoGen is obtaining, prosecuting or maintaining a Licensed
Patent Right, neither ImmunoGen, nor any of its Affiliates, employees, agents or representatives, will be liable to Licensee in respect of any act, omission, default or neglect on the part of any such Affiliate, employee, agent or representative in
connection with such activities taken in good faith. 

  

	7.	 INFRINGEMENT; MISAPPROPRIATION. 

 

	 	7.1.	 Notification. Each Party will promptly notify the other Party in writing of any actual or
threatened infringement, misappropriation, other violation or challenge to the validity, scope or enforceability by a Third Party of any Licensed Technology in the Field and in the Territory (but with respect to Licensed Patent Rights, solely to the
extent such rights cover the Compound or Product) of which it becomes aware (“Third Party Infringement”). 

  

	 	7.2.	 Infringement Action. 

 

	 	7.2.1.	 Right of Enforcement. 

 

	 	(a)	 Subject to the exceptions described in this Section 7.2 (Infringement Action), Licensee will have the
first right (but not 

  
 21 

	 	
the obligation), at its own expense, to control enforcement of the Licensed Patent Rights against any Third Party Infringement within the scope of its exclusive license. ImmunoGen shall if
requested by Licensee, join Licensee as a party for standing purposes (at Licensee’s expense), provided that if ImmunoGen is represented by independent counsel in such action (as determined by ImmunoGen in its sole discretion), each Party will
bear the expense of its own counsel. Prior to commencing any such action, Licensee will consult with ImmunoGen and will give due consideration to ImmunoGen’s recommendations regarding the proposed action. Licensee will give ImmunoGen timely
notice of any proposed settlement of any such action instituted by Licensee and will not, without the prior written consent of ImmunoGen, enter into any settlement that would (i) adversely affect the validity, enforceability or scope of any of
the Licensed Patent Rights, (ii) give rise to liability of ImmunoGen or its Affiliates, or (iii) otherwise impair ImmunoGen’s rights in any Licensed Technology or this Agreement. 

 

	 	(b)	 If Licensee does not, with respect to its first right of enforcement under Section 7.2.1(a) (Right of
Enforcement), obtain agreement from the alleged infringer to desist or fails or refuses to initiate an infringement action by the earlier of (i) 60 days following Licensee’s receipt of notice of the alleged infringement, or (ii) 30 days before
the expiration date for filing such actions, then ImmunoGen will have the right, but not the obligation, at its sole discretion, to control such enforcement of the Licensed Patent Rights and may at its expense join Licensee as a party for standing
purposes, provided that if Licensee is represented by independent counsel in such action, each Party will bear the expense of its own counsel. Prior to commencing any such action, ImmunoGen will consult with Licensee and will give due consideration
to Licensee’s recommendations regarding the proposed action. ImmunoGen will give Licensee timely notice of any proposed settlement of any such action instituted by ImmunoGen and will not, without the prior written consent of Licensee, enter
into any settlement that would: (i) adversely affect the validity, enforceability or scope of any claim within the Licensed Patent Rights which covers the Compound, (ii) give rise to liability of Licensee or its Affiliates,
(iii) admit non-infringement of any claim within the Licensed Patent Rights which covers the Compound, or (iv) otherwise impair Licensee’s rights in any Licensed Technology or this Agreement.

  
 22 

	 	7.2.2.	 Recoveries. Any recoveries resulting from an action relating to a claim of Third Party
Infringement within the scope of Licensee’s exclusive license will first be applied to reimburse each Party’s costs and expenses incurred in connection therewith. Any remaining recoveries will be retained by (or if received by ImmunoGen,
paid to) Licensee; provided, however, such remaining recoveries will be apportioned [***] to ImmunoGen and [***] to Licensee. If Licensee fails to institute an action or proceeding and ImmunoGen exercises its right to prosecute such
infringement pursuant to Section 7.2.1(b) (Right of Enforcement), any remaining recoveries will be apportioned [***] by ImmunoGen and [***] to Licensee, resulting from an action brought by ImmunoGen relating to any other claim of Third Party
Infringement, except that ImmunoGen would retain [***] of any recoveries solely attributable to a claim of Third Party Infringement outside the scope of Licensee’s exclusive license, including with respect to any patent or application within
the Licensed Patent Right that does not cover the Compound. 

  

	8.	 CONFIDENTIALITY. 

 

	 	8.1.	 Obligations. Except to the extent expressly authorized by this Agreement, the Parties agree that,
during the Term and for 10 years thereafter, each Party, in its capacity as the Receiving Party will: (a) keep the Disclosing Party’s Confidential Information confidential; (b) not disclose, or permit the disclosure of, the Disclosing
Party’s Confidential Information; and (c) not use, or permit to be used, the Disclosing Party’s Confidential Information for any purpose, in each case, except for the performance of its obligations or exercise of its rights under this
Agreement, provided, however, that the foregoing obligations will not apply, or will cease to apply, to the extent that such Confidential Information (i) was already known by the Receiving Party or its Affiliates (other than under an obligation
of confidentiality to the Disclosing Party) at the time of disclosure by the Disclosing Party; (ii) was generally available to the public or otherwise part of the public domain at the time of its disclosure to the Receiving Party;
(iii) became generally available to the public or otherwise part of the public domain after its disclosure to the Receiving Party, other than through any act or omission of the Receiving Party or its Affiliates or any of their respective
Representatives in breach of its obligations under this Agreement; (iv) was disclosed to the Receiving Party or its Affiliates, other than under an obligation of confidentiality, by a Third Party who had no obligation to the Disclosing Party
not to disclose such information to the Receiving Party; or (v) was independently developed by or on behalf of the Receiving Party without reference to or reliance upon any Confidential Information of the Disclosing Party. 

  

	 	8.2.	 Exceptions. 

  

	 	8.2.1.	 Disclosure to Party Representatives. Notwithstanding the foregoing provisions of Section 8.1
(Obligations) hereof, the Receiving Party may disclose Confidential Information belonging to the Disclosing Party to 

  
 23 

	 	
the Receiving Party’s Representatives who (a) have a need to know such Confidential Information in connection with the performance of the Receiving Party’s obligations or the
exercise of the Receiving Party’s rights under this Agreement and (b) have agreed in writing to non-disclosure and non-use provisions with respect to such
Confidential Information that are at least as restrictive as those set forth in this Article 8 (Confidentiality). 

  

	 	8.2.2.	 Disclosure to Third Parties. 

 

	 	(a)	 Notwithstanding the foregoing provisions of Section 8.1 (Obligations) hereof, the Parties may disclose
Confidential Information belonging to the other Party with prior written consent of the other Party: 

  

	 	(i)	 to governmental authorities to the extent reasonably necessary to obtain or maintain INDs or Regulatory
Approvals for any Product and in order to respond to inquiries, requests, investigations, orders or subpoenas of governmental authorities relating to this Agreement; 

 

	 	(ii)	 to the extent reasonably necessary, in connection with prosecuting or defending litigation as permitted by this
Agreement; and 

  

	 	(iii)	 regarding the existence of this Agreement, this Agreement itself or the material and financial terms of this
Agreement, (A) to its accountants, lawyers, and other advisers, and (B) to actual or potential investors, lenders, licensors, licensees, acquirers, investment bankers, or agents of the foregoing in connection with a financing, licensing
transaction, merger, or acquisition, in each case (A)-(B) under confidentiality obligations no less restrictive than those set forth in this Agreement. 

  

	 	(b)	 In the event a Party deems it reasonably necessary to disclose Confidential Information belonging to the other
Party pursuant to Section 8.2.2(a)(i) (Disclosure to Third Parties) hereof, the Disclosing Party will give reasonable advance written notice of such disclosure to the other Party and take all reasonable measures to ensure confidential treatment
of such information. 

  

	 	8.2.3.	 SEC Filings and Other Disclosures. Notwithstanding any provision of this Agreement to the
contrary, either Party may disclose the existence or terms of this Agreement or information regarding the Products to the extent required, in the reasonable opinion of such Party’s legal counsel, to comply with Applicable Law. Notwithstanding
the foregoing, before 

  
 24 

	 	
disclosing this Agreement or any of the terms hereof pursuant to this Section 8.2.3 (SEC Filings and Other Disclosures), the Parties will consult with one another on the terms of this
Agreement to be redacted in making any such disclosure. Further, if a Party discloses this Agreement or any of the terms hereof in accordance with this Section 8.2.3 (SEC Filings and Other Disclosures), such Party will, at its own expense, use
reasonable efforts to seek such confidential treatment of confidential portions of this Agreement and such other terms, as may be reasonably requested by the other Party. 

 

	 	8.3.	 Right to Injunctive Relief. Each Party agrees that breaches of this Article 8 (Confidentiality) may
cause irreparable harm to the Disclosing Party and will entitle the Disclosing Party, in addition to any other remedies available to it (subject to the terms of this Agreement), the right to seek injunctive relief enjoining such action.

  

	 	8.4.	 Ongoing Obligation for Confidentiality. Upon expiration or termination of this Agreement, the Receiving
Party will, and will cause any recipients of Confidential Information as permitted under this Article 8 (Confidentiality) from the Receiving Party to, destroy, delete or return (as requested by the Disclosing Party) any Confidential Information of
the Disclosing Party, except that the Receiving Party (a) may retain a single copy of Confidential Information for the sole purpose of ascertaining its rights and responsibilities in respect of such information and (b) will not be required
to destroy any computer files stored securely by the Receiving Party that are created by automatic system back up. 

  

	9.	 REPRESENTATIONS, WARRANTIES AND COVENANTS. 

 

	 	9.1.	 Representations and Warranties by Each Party. Each Party represents and warrants to the other Party as
of the Effective Date that: 

  

	 	9.1.1.	 it is a corporation duly organized, validly existing, and in good standing under the laws of its
jurisdiction of formation; 

  

	 	9.1.2.	 it has full corporate power and authority to execute, deliver, and perform its obligations under this
Agreement, and has taken all corporate action required by Applicable Law and its organizational documents to authorize the execution and delivery of this Agreement and the consummation of the transactions contemplated by this Agreement;

  

	 	9.1.3.	 this Agreement has been duly executed and constitutes a valid and binding agreement enforceable against
it in accordance with its terms; 

  

	 	9.1.4.	 all consents, approvals and authorizations from all governmental authorities or other Third Parties
required to be obtained by such Party in connection with this Agreement have been obtained; and 

  

	 	9.1.5.	 the execution and delivery of this Agreement and compliance with the terms and provisions hereof and all
other instruments and documents 

  
 25 

	 	
required to be executed pursuant to this Agreement, and the consummation of the transactions contemplated hereby do not and will not: (i) conflict with or result in a breach of any provision
of its organizational documents, (ii) result in a breach of any agreement to which it is a party that would impair the performance of its obligations hereunder; or (iii) violate any Applicable Law. 

 

	 	9.2.	 Representations and Warranties by ImmunoGen. ImmunoGen represents and warrants to Licensee as of
the Effective Date that: 

  

	 	9.2.1.	 There is no ongoing or, to ImmunoGen’s Knowledge, threatened litigation involving the Licensed
Patent Rights, [***]. 

  

	 	9.2.2.	 To ImmunoGen’s Knowledge, other than the rights granted to [***], no Third Parties have any right,
title or interest in or to any Licensed Patent Rights; 

  

	 	9.2.3.	 ImmunoGen has not received any written notice, and otherwise has no Knowledge, that the use,
Development, Manufacture or Commercialization of the Compound or the Product infringes upon, violates or constitutes a misappropriation of, or may infringe upon, violate or constitute a misappropriation of, or otherwise interfere with, any other
Intellectual Property Rights of any Third Party. 

  

	 	9.2.4.	 ImmunoGen has not utilized, and will not utilize, in connection with the Compound or the Product, any
person or entities that, to ImmunoGen’s Knowledge, have been or are debarred by FDA pursuant to the provisions of the Generic Drug Enforcement Act of 1992 (21 U.S.C. §335); 

 

	 	9.2.5.	 ImmunoGen has not received any notices of violations of Applicable Law from the FDA or any other
Regulatory Authority with respect to any past use, Development, Manufacture, or Commercialization of a Compound that could reasonably be deemed to adversely affect the use, Development, Manufacture, or Commercialization of such Compound.

  

	 	9.2.6.	 ImmunoGen has obtained from all inventors of the inventions claimed in the Licensed Patent Rights valid
and enforceable agreements assigning to ImmunoGen each such inventor’s entire right, title and interest in and to the Licensed Patent Rights; 

  

	 	9.2.7.	 Neither ImmunoGen nor any of its Affiliates owns or otherwise Controls any Patent Rights other than the
Licensed Patent Rights that cover the Compound or Product, their use in the Field, or their Manufacture as conducted by ImmunoGen; 

  
 26 

	 	9.2.8.	 ImmunoGen has provided Licensee with a complete and accurate copy of [***] as of the Effective Date,
except for the redacted provisions thereof. The redacted provisions of [***] do not and shall not adversely affect this Agreement or the rights of Licensee in the Compound or the Product, as set forth in this Agreement; and 

 

	 	9.2.9.	 Neither ImmunoGen nor any of its Affiliates own or otherwise Controls any cell lines or other biologic
material that are material to the Development, Manufacture or Commercialization of the Compound or Product, other than the Licensed Materials. 

  

	 	9.3.	 Representations, Warranties and Covenants by Licensee. 

 

	 	9.3.1.	 Licensee has not utilized and will not utilize, in connection with a Product, any person or entities
that have been or are debarred by FDA pursuant to the provisions of the Generic Drug Enforcement Act of 1992 (21 U.S.C. § 335); and 

  

	 	9.3.2.	 Licensee covenants to ImmunoGen that it will comply with all Applicable Law with respect to the
performance of its obligations hereunder. 

  

	 	9.4.	 Additional Covenants of ImmunoGen. 

 

	 	9.4.1.	 ImmunoGen hereby covenants that it will not amend [***] in a manner that would adversely affect
Licensee. 

  

	 	9.4.2.	 ImmunoGen shall immediately notify Licensee in writing of any notice it receives from [***] that it is
in breach of [***] in a manner that would adversely affect Licensee and the plan to cure such breach. Licensee shall have the right, but not the obligation, to cure such breach if such breach is of a nature that is curable by Licensee.

  

	 	9.5.	 Representations, Warranties and Covenants related to Compliance Laws. Without limiting the
generality of Section 9.3.2 (Representations, Warranties and Covenants by Licensee), Licensee will comply with the U.S. Foreign Corrupt Practices Act and any other applicable anti-bribery or anti-corruption laws (“Compliance
Laws”). Licensee represents and warrants that neither Licensee, nor its respective Affiliates, nor to Licensee’s knowledge, any director, officer, employee, consultant, agent or representative or other person acting on its behalf has
taken or will take any action, directly or indirectly, to pay, offer, promise or authorize the payment, or giving of anything of value to any Government Official, or to any person, and has not accepted and will not accept a payment for any item of
value: (a) for the purpose of (i) influencing any act or decision of such Government Official(s) in their official capacity, including the failure to perform an official function, in order to assist Licensee or its Affiliates or any
beneficiary 

  
 27 

	 	
of the Licensee in obtaining or retaining business, or directing business to any third party, (ii) securing an improper advantage in connection with a Government Official,
(iii) inducing such Government Official(s) to use their influence to affect or influence any act or decision of a government entity in order to assist Licensee, its Affiliates or any beneficiary of Licensee in obtaining or retaining business,
or directing business to any third party, or (iv) providing an unlawful personal gain or benefit, of financial or other value, to such Government Official(s); or (b) otherwise for the benefit of Licensee, or any of its Affiliates in
violation of any federal, state, local, municipal, foreign, international, multinational or other administrative law. As used herein, “Government Official” means: (A) any elected or appointed government official (e.g., a member
of a ministry of health), (B) any employee or person acting for or on behalf of a government official, agency, or enterprise performing a governmental function, (C) any political party officer, employee, or person acting for or on behalf of a
political party or candidate for public office, (D) an employee or person acting for or on behalf of a public international organization, or (E) any person otherwise categorized as a government official under local law.
“Government” is meant to include all levels and subdivisions of non-U.S. governments (i.e., local, regional, or national and administrative, legislative, or executive). 

 

	 	9.6.	 No Action Required Which Would Violate Law. In no event will either Party be obligated under this
Agreement to take any action or omit to take any action that such Party believes, in good faith, would cause such Party to violate any Applicable Law, including without limitation the Compliance Laws. 

 

	 	9.7.	 No Other Warranties. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT, NEITHER PARTY
MAKES ANY REPRESENTATION OR EXTENDS ANY WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO ANY TECHNOLOGY, GOODS, SERVICES, RIGHTS OR OTHER SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. 

  

	10.	 INDEMNIFICATION. 

 

	 	10.1.	 Indemnification by Licensee. Licensee agrees to indemnify, hold harmless and defend ImmunoGen and
its Affiliates, contractors, distributors and each of its and their respective officers, directors, employees, agents and assigns (collectively, “ImmunoGen Indemnitees”), from and against any Claims to the extent arising or
resulting from: (a) the Development, Manufacture, Commercialization or use (including, without limitation, the production, manufacture, promotion, import, sale or use by any Person) of any Product by, on behalf of, or under the authority of,
Licensee or any of its Affiliates, Sublicensees, subcontractors, distributors or agents (other than by any ImmunoGen Indemnitees), (b) the negligence, recklessness or wrongful intentional acts or omissions of Licensee, its Affiliates, subcontractors
or Sublicensees, except to the extent caused by a breach by ImmunoGen or any of its Affiliates of any of ImmunoGen’s obligations, representations, warranties or 

  
 28 

	 	
covenants set forth in this Agreement, or ImmunoGen’s, or its Affiliates’ negligence, recklessness or intentional acts, or the negligence, recklessness or intentional acts of any Third
Party direct licensee (other than Licensee’s Sublicensees or subcontractors under this Agreement) of the Licensed Technology acting within the scope of such license with ImmunoGen, (c) breach by Licensee of any representation, warranty or
covenant as set forth in this Agreement or (d) breach by Licensee of the scope of the license set forth in Sections 2.1 (License Grant). As used herein, “Claims” means collectively, any and all demands, claims, actions and
proceedings (whether criminal or civil, in contract, tort or otherwise) asserted or brought by any Third Party for losses, damages, liabilities, costs and expenses (including attorneys’ fees). 

 

	 	10.2.	 Indemnification by ImmunoGen. ImmunoGen agrees to indemnify, hold harmless and defend Licensee
and its Affiliates, contractors, distributors and each of its and their respective officers, directors, employees, agents and assigns (collectively, “Licensee Indemnitees”), from and against any Claims to the extent arising or
resulting from (a) the actions undertaken by ImmunoGen, its Affiliates or subcontractors during the Development, manufacture or use of the Compound and Product prior to the Effective Date, (b) the negligence, recklessness or wrongful
intentional acts or omissions of ImmunoGen, its Affiliates, or the negligence, recklessness or intentional acts of any Third Party direct licensees (other than Licensee’s Sublicensees or subcontractors under this Agreement) of the Licensed
Technology acting within the scope of such direct licensees’ license with ImmunoGen, (c) breach by ImmunoGen of any representation, warranty, obligation or covenant as set forth in this Agreement, or (d) any liability, obligation or
claim under [***] arising prior to the Effective Date, and any liability obligation or claim arising as a result of any act or omission of ImmunoGen following the Effective Date (other than Licensee’s failure to comply with the terms of this
Agreement applicable to [***]), in each case, ((a) through (d)), except to the extent caused by a breach by Licensee, its Affiliates, subcontractors or Sublicensees of any of Licensee’s obligations, representations, warranties or covenants set
forth in this Agreement, or Licensee’s, or its Affiliates’, subcontractors’ or Sublicensees’, negligence, recklessness or intentional acts. 

 

	 	10.3.	 Indemnification Procedure. In connection with any Claim for which a Party (the
“Indemnified Party”) seeks indemnification from the other Party (the “Indemnifying Party”) pursuant to this Agreement, the Indemnified Party will: (a) give the Indemnifying Party prompt written notice of the
Claim; provided, however, that failure to provide such notice will not relieve the Indemnifying Party from its liability or obligation hereunder, except to the extent of any material prejudice as a direct result of such failure;
(b) cooperate with the Indemnifying Party, at the Indemnifying Party’s expense, in connection with the defense and settlement of the Claim; and (c) permit the Indemnifying Party to control the defense and settlement of the Claim;
provided, however, that the Indemnifying Party may not settle the Claim without the Indemnified Party’s prior written consent, which will not be unreasonably withheld or delayed, in the event that such settlement materially
adversely impacts the Indemnified Party’s rights or obligations. Further, the 

  
 29 

	 	
Indemnified Party will have the right to participate (but not control) and be represented in any suit or action by advisory counsel of its selection and at its own expense. 

 

	11.	 LIMITATION OF LIABILITY. 

 

	 	11.1.	 Consequential Damages Waiver. EXCEPT FOR A BREACH OF ARTICLE 8 (CONFIDENTIALITY), AN INFRINGEMENT OF
EITHER PARTY’S INTELLECTUAL PROPERTY RIGHTS, A PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, OR OBLIGATIONS ARISING UNDER ARTICLE 10 (INDEMNIFICATION), NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY UNDER THIS AGREEMENT FOR ANY
INDIRECT, CONSEQUENTIAL, SPECIAL, EXEMPLARY OR PUNITIVE DAMAGES, INCLUDING DAMAGES FOR LOST PROFITS OR LOST REVENUES REGARDLESS OF WHETHER IT HAS BEEN INFORMED OF THE POSSIBILITY OR LIKELIHOOD OF SUCH DAMAGES OR THE TYPE OF CLAIM, CONTRACT OR TORT
(INCLUDING NEGLIGENCE) AND EVEN IF THE REMEDIES PROVIDED FOR IN THIS AGREEMENT FAIL OF THEIR ESSENTIAL PURPOSE. 

  

	12.	 TERM; TERMINATION. 

 

	 	12.1.	 Term. The term of this Agreement (“Term”) will commence as of the Effective Date
and, unless earlier terminated as expressly provided herein, will extend on a Product-by-Product and
country-by-country basis, until such time as the Royalty Term with respect to the sale of such Product in such country expires. Provided this Agreement has not
been terminated prior thereto by ImmunoGen under Section 12.2 (Termination for Cause) or 12.3 (Termination for a Bankruptcy Event) hereof or by Licensee under Section 12.3 (Termination for a Bankruptcy Event) or 12.4 (Termination for
Convenience) hereof, following the expiration of the Royalty Term applicable to a Product throughout the Territory in accordance with Section 1.69 (Royalty Term) hereof, Licensee will have a fully
paid-up, irrevocable, freely transferable and sublicensable, non-exclusive license under the relevant Licensed Technology, to make, have made, use, sell, offer for sale
and import such Products in such country. 

  

	 	12.2.	 Termination for Cause. Each Party will have the right, without prejudice to any other remedies
available to it at law or in equity, to terminate this Agreement in the event the other Party materially breaches any of its obligations hereunder and fails to cure such breach within 90 days of receiving notice thereof; provided,
however, if such breach is capable of being cured, but cannot be cured within such 90 day period, and the breaching Party initiates actions to cure such breach within such period and thereafter diligently pursues such actions, the breaching
Party will have such additional period as is reasonable to cure such breach, but in no event will such additional period exceed 90 days. Any termination by a Party under this Section 12.2 (Termination for Cause) will be without prejudice to any
damages or other legal or equitable remedies to which it may be entitled from the other Party. The foregoing cure periods shall be tolled during the pendency of any Dispute as to whether a material breach has occurred. 

  
 30 

	 	12.3.	 Termination for a Bankruptcy Event. Each Party will have the right to terminate this Agreement in
the event of a Bankruptcy Event with respect to the other Party. “Bankruptcy Event” means the occurrence of any of the following: (a) the institution of any bankruptcy, receivership, insolvency, reorganization or other similar
proceedings by or against a Party under any bankruptcy, insolvency, or other similar law now or hereinafter in effect, including any section or chapter of the United States Bankruptcy Code, as amended or under any similar laws or statutes of the
United States or any state thereof (the “Bankruptcy Code”), where in the case of involuntary proceedings such proceedings have not been dismissed or discharged within 90 days after they are instituted, (b) the insolvency or
making of an assignment for the benefit of creditors or the admittance by a Party of any involuntary debts as they mature, (c) the institution of any reorganization, arrangement or other readjustment of debt plan of a Party not involving the
Bankruptcy Code, (d) appointment of a receiver for all or substantially all of a Party’s assets, or (e) any corporate action taken by the board of directors of a Party in furtherance of any of the foregoing actions. For clarity, the
Licensed Technology shall be regarded as intellectual property under Section 365(n) of the Bankruptcy Code. 

  

	 	12.4.	 Termination for Convenience. Licensee may terminate this Agreement for convenience upon [***]
prior written notice to ImmunoGen. 

  

	 	12.5.	 Effects of Termination. 

 

	 	12.5.1.	 Termination by Licensee for Cause or Bankruptcy Event. In the event that Licensee terminates this
Agreement pursuant to Section 12.2 (Termination for Cause) or Section 12.3 (Termination for a Bankruptcy Event), the following will apply: 

  

	 	(a)	 Rights and Obligations. Except as otherwise provided herein, all rights and obligations of each Party
hereunder will cease, including, subject to Section 12.5.1(b) (Licensee Inventory), the licenses granted to Licensee pursuant to Section 2.1 (License Grant), provided that ImmunoGen will remain entitled to receive payments that accrued
before the effective date of such termination. Notwithstanding the foregoing, if this Agreement is terminated by ImmunoGen pursuant to Section 12.2 (Termination for Cause) or Section 12.3 (Termination for a Bankruptcy Event), at the
request of any Sublicensee, ImmunoGen will grant such Sublicensee a direct license under the Licensed Patent Rights, Licensed Know-How and Licensed Materials on substantially the same terms as are set forth in
the sublicense agreement between Licensee and such Sublicensee, so that the Sublicensee is put in the same position as it was prior 

  
 31 

	 	
to this Agreement being terminated; provided, however, that (i) ImmunoGen would not have any increased obligations as a result of such direct license to the Sublicensee; (ii) as
consideration for such direct license, Sublicensee would be required to pay ImmunoGen the same amount as ImmunoGen would have received from Licensee had this Agreement survived as a result of (x) the applicable sublicense and (y) the
exploitation of the Compound and Products; and (iii) any such direct license may be conditioned upon the Sublicensee being in good standing under the terms of the sublicense agreement. 

 

	 	(b)	 Licensee Inventory. Licensee will have the right to sell its remaining inventory of Product as of the
termination date so long as Licensee has fully paid, and continues to pay when due, all Royalties and Milestone Payments owed to ImmunoGen, and Licensee is otherwise not in material breach of this Agreement. Except with respect to the offering for
sale, sale and import of the remaining inventory of Product described above, Licensee will immediately cease, and will cause its Affiliates and Sublicensees to cease, all Development, manufacture, use and Commercialization of Compounds and Products
in the Territory. 

  

	 	12.5.2.	 Termination by ImmunoGen for Cause, Bankruptcy Event; Termination by Licensee for Convenience. In the
event that ImmunoGen terminates this Agreement pursuant to Section 12.2 (Termination for Cause), or Section 12.3 (Termination for a Bankruptcy Event), or Licensee terminates this Agreement pursuant to Section 12.4 (Termination
for Convenience), the following will apply: 

  

	 	(a)	 Rights and Obligations. Except as otherwise provided herein, all rights and obligations of each Party
hereunder will cease, and, except as expressly provided in this Agreement, Licensee will cease all Development, Manufacture, and Commercialization of the Compound and Products. 

 

	 	(b)	 Transition. Within 90 days of termination of this Agreement, at ImmunoGen’s sole option, ImmunoGen
will prepare and the Parties will negotiate a transition plan that will include, at a minimum, a plan for accomplishing the activities described in this Section 12.5.2(b) (Transition). 

 

	 	(i)	 Continued Development. At ImmunoGen’s request and expense, Licensee will continue on-going Development for a mutually agreed-upon period following terminating of this Agreement, which period will be at least three months, but not more than six months, unless otherwise agreed to by the Parties.
For avoidance of doubt, if 

  
 32 

	 	
ImmunoGen chooses not to continue a clinical trial initiated by Licensee, Licensee will be solely responsible for the cost of winding down such trial, including compliance with any ethical or
other requirements imposed by an applicable Regulatory Authority. 

  

	 	(ii)	 Technology Transfer. At ImmunoGen’s request and expense, Licensee will make available to ImmunoGen
all currently available records and data which exist and are Controlled by Licensee as of the effective date of termination and are necessary or useful for ImmunoGen to continue using, Developing, Commercializing and Manufacturing the Product.

  

	 	(iii)	 Regulatory Matters. At ImmunoGen’s request and expense, Licensee will transfer and assign to
ImmunoGen (or its designee) all Regulatory Approvals, pricing approvals, and Regulatory Filings held by Licensee with respect to the Product, provided that if such transfer and assignment is not permitted by the applicable Regulatory Authority,
Licensee will permit ImmunoGen to cross-reference and rely upon such Regulatory Approvals, pricing approvals and Regulatory Filings. Licensee will make available to ImmunoGen copies of all regulatory documentation and records related to the Product,
including information contained in the regulatory and safety databases. The Parties will cooperate to ensure the prompt transition of regulatory responsibilities for the Product from Licensee to ImmunoGen. 

 

	 	(iv)	 Trademarks. ImmunoGen will have a fully paid-up, royalty-free,
worldwide, transferable, sublicensable, perpetual and irrevocable license to use the trademarks associated exclusively with a Product solely for the purpose of using, Developing, Commercializing and Manufacturing the Product. ImmunoGen will have a
transitional license to use Licensee’s trademarks not associated exclusively with a Product and promotional materials solely for the purpose of using, Developing, Commercializing and Manufacturing the Product. 

 

	 	(v)	 Inventory and Supply. At ImmunoGen’s request and expense, Licensee will transfer to ImmunoGen (or
its designee) all Product, components and in-process inventory produced or held by Licensee with respect to the Manufacture of Products. At ImmunoGen’s request

  
 33 

	 	
and expense, Licensee will continue to Manufacture or have Manufactured the Product for a period of not less than 18 months. ImmunoGen will pay to Licensee the actual cost plus 15% of
Manufacturing associated with inventory and Product received by ImmunoGen pursuant to this Section 12.5.2(b)(v) (Inventory and Supply). 

  

	 	(vi)	 Third Party Agreements. At ImmunoGen’s request and expense, to the extent Licensee is reasonably
able to do so, Licensee will assign to ImmunoGen (or its designee) any agreements with Third Parties with respect to the Development, Commercialization and Manufacture of the Product (including any sublicense agreements with a Sublicensee). With
respect to Third Party agreements that Licensee is not able to assign to ImmunoGen, Licensee will use reasonable efforts (at the expense of ImmunoGen) to give ImmunoGen the benefit of such contracts for a reasonable transitional period.

  

	 	(c)	 Licensee Inventory. In the event that Licensee terminates this Agreement pursuant to Section 12.4
(Termination for Convenience) and ImmunoGen elects not to initiate transition activities pursuant to Section 12.5.2(b) (Transition), Licensee will have the right to sell its remaining inventory of Product so long as Licensee has fully paid, and
continues to pay when due, all Royalties and Milestone Payments owed to ImmunoGen, and Licensee is otherwise not in material breach of this Agreement. Except with respect to the offering for sale, sale and import of the remaining inventory of
Product described above, Licensee will immediately cease, and will cause its Affiliates and Sublicensees to cease, all Development, Manufacture, use and Commercialization of Compounds and Products in the Territory. 

 

	 	(d)	 ImmunoGen Indemnification. ImmunoGen will indemnify, hold harmless and defend Licensee and its
Affiliates, and their respective officers, directors, employees, contractors, agents and assigns, from and against any Claims to the extent arising or resulting from the Development, Manufacture or use of Compound and Product by ImmunoGen, its
Affiliates, subcontractors or Sublicensees after the effective date of such termination, except to the extent such Claim is caused by (i) a material breach by Licensee of any of its obligations, representations, warranties or covenants set
forth in this Agreement, or (ii) Licensee’s, or its Affiliates’ or Sublicensees’, negligence, recklessness or intentional acts. The process for such indemnification will be governed by Section 10.3 (Indemnification
Procedure) mutatis mutandis. 

  
 34 

	 	12.6.	 Survival. Any expiration or termination of this Agreement will not preclude the terminating Party
from exercising any other of those remedies to which it may be entitled under this Agreement or Applicable Law, or terminate any right to obtain performance of any obligation provided for in this Agreement that will survive termination. Expiration
or termination of this Agreement will not relieve the Parties of any obligation accruing hereunder prior to such expiration or termination. Without limiting the foregoing, the provisions of this Section 12.6 (Survival), Article 1 (Definitions),
Article 4 (Payment Terms) (to the extent applicable to Licensee’s Development or Commercialization of Products during the Term or as expressly permitted by this Agreement thereafter), Article 5 (Reporting; Records; Audit Rights),
Section 6.1 (Pre-existing IP), Section 6.2.4 (Liability), Section 7.2.2 (Recoveries), Article 8 (Confidentiality), Section 9.7 (No Other Warranties), Article 10 (Indemnification), Article
11 (Limitation of Liability), Section 12.5 (Effects of Termination), Article 13 (Publicity; Publications), Article 14 (Dispute Resolution) and Article 15 (General Provisions) will survive expiration or termination of this Agreement.

  

	13.	 PUBLICITY; PUBLICATIONS. 

 

	 	13.1.	 Use of Names. Subject to ImmunoGen’s rights pursuant to Section 12.5.2(b)(iv) (Trademarks),
neither Party (nor any of its Affiliates or agents) will use the registered or unregistered trademarks, service marks, trade dress, trade names, logos, insignia, domain names, symbols or designs of the other Party or its Affiliates in any press
release, publication or other form of promotional disclosure without the prior written consent of the other Party in each instance. 

  

	 	13.2.	 Press Releases. Except as may be expressly permitted under Section 8.2.3 (SEC Filings and
Other Disclosures), neither Party will make any public announcement regarding the existence or terms of this Agreement without the prior written approval of the other Party, such approval not to be unreasonably withheld. For the sake of
clarity, nothing in this Agreement will prevent either Party from making any public disclosure relating to this Agreement if the contents of such public disclosure have previously been made public other than through a breach of this Agreement by the
issuing Party or its Affiliates. The Parties agree that each Party may issue future announcements concerning Licensee’s achievement of any significant milestones, including the selection of a clinical candidate, under this Agreement, provided
that the content of any such announcement by ImmunoGen has been mutually agreed upon by the Parties or contains only information that has been previously publicly announced by Licensee. The foregoing notwithstanding, ImmunoGen may publicly announce
the achievement of any Development Milestone or Sales Milestone entitling ImmunoGen to receive a payment pursuant to Sections 4.2 (Development Milestone Payments) or 4.3 (Sales Milestone Payments), provided that ImmunoGen will submit to Licensee for
prior review a draft of the proposed announcement to the extent including information that is not covered in the second sentence of this Section 13.2 (Press Releases) (“Additional Information”), incorporate any reasonable
comments made by Licensee on 

  
 35 

	 	
Additional Information, and cooperate with Licensee on the timing of such announcement where required for Licensee to comply with applicable securities laws, rules and regulations.

  

	 	13.3.	 Publications. Subject to Section 8.2.3 (SEC Filings and other Disclosures), during the Term,
Licensee will submit to ImmunoGen for review and approval any proposed academic, scientific or medical public presentation or publication that refers to, derives from, contains or otherwise relates to the Licensed Technology or ImmunoGen’s
Confidential Information. Such review and approval will be conducted for the purposes of preserving the value of the Licensed Technology and determining whether any portion of the proposed publication or presentation containing ImmunoGen’s
Confidential Information should be modified or deleted. Written copies of such proposed publication or presentation required to be submitted hereunder will be submitted to ImmunoGen no later than 15 days before the relevant submission date for such
publication or presentation (the “Review Period”). ImmunoGen will provide its comments with respect to such publications and presentations within seven days of its receipt of such written copy and Licensee will incorporate all
appropriate changes proposed by Licensee regarding its Confidential Information and will delete all Confidential Information of ImmunoGen as ImmunoGen may request. Licensee will comply with standard academic practice regarding authorship of
scientific publications and recognition of contribution of other parties in any publication governed by this Section 13.3 (Publications), including International Committee of Medical Journal Editors standards regarding authorship and
contributions.  

  

	14.	 DISPUTE RESOLUTION. 

 

	 	14.1.	 Arbitration. The Parties recognize that a bona fide dispute as to certain matters may
arise from time to time during the Term relating to either Party’s rights or obligations hereunder or otherwise relating to the validity, enforceability or performance of this Agreement, including disputes relating to alleged breach or
termination of this Agreement but excluding any disputes relating to Article 8 (Confidentiality) hereof or disputes relating to the determination of the validity, scope, infringement, enforceability, inventorship or ownership of the Parties’
respective Patent Rights (hereinafter, a “Dispute”). In the event of the occurrence of any Dispute, the Parties will follow the following procedures in an attempt to resolve the dispute or disagreement: 

 

	 	14.1.1.	 The Party claiming that such a Dispute exists will give notice in writing (a “Notice of
Dispute”) to the other Party of the nature of the Dispute. 

  

	 	14.1.2.	 The Dispute will be referred to the then Chief Executive Officer of ImmunoGen and the then Chief
Executive Officer of Licensee who will meet no later than 60 days following the initial receipt of the Notice of Dispute and use reasonable endeavors to resolve the Dispute. 

  
 36 

	 	14.1.3.	 If, within 60 days of initial receipt of the Notice of Dispute, the Dispute has not been resolved, or
if, for any reason, the meeting described in Section 14.1.2 (Arbitration) hereof has not been held within 60 days of initial receipt of the Notice of Dispute, then the Parties agree that such Dispute will be finally
resolved through binding arbitration to be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited Procedures in those Rules, as specifically modified by the provisions of this
Section 14.1.3 (Arbitration). 

  

	 	(a)	 Arbitration Panel. The arbitration will be conducted by a panel of three arbitrators. Within 30 days
after the initiation of the arbitration, each Party will nominate one person to act as arbitrator, and the two arbitrators so named will then jointly appoint the third arbitrator within 30 days of their appointment, who will serve as chairman of the
panel. All three arbitrators must be independent Third Parties having at least 10 years of dispute resolution experience (which may include judicial experience) and/or legal or business experience in the biotech or pharmaceutical industry. If either
Party fails to nominate its arbitrator, or if the arbitrators selected by the Parties cannot agree on a person to be named as chairman within such 30-day period, JAMS will make the necessary appointments for
such arbitrator(s) or the chairman. Once appointed by a Party, such Party will have no ex parte communication with its appointed arbitrator. 

  

	 	(b)	 Location and Proceedings. The place of arbitration will be in the Borough of Manhattan, City of New
York, NY or such other venue as the Parties may mutually agree. The arbitration proceedings and all communications with respect thereto will be in English. Any written evidence originally in another language will be submitted in English translation
accompanied by the original or a true copy thereof. The arbitrators have the power to decide all matters in Dispute, including any questions of whether or not such matters are subject to arbitration hereunder. The arbitration will be governed by the
Federal Arbitration Act, 9 U.S.C. §§1 et seq., and judgment upon the award rendered by the arbitrators may be entered in any court having competent jurisdiction thereof. 

 

	 	(c)	 Limitation on Awards. Except for breaches of Article 6 (Intellectual Property Rights) hereof, the
arbitrators will have no authority to award any SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR OTHER SIMILAR DAMAGES. Each Party will bear its own costs and expenses (including attorneys’ fees and expert or consulting

  
 37 

	 	
fees) incurred in connection with the arbitration. The Parties will equally (50/50) share the arbitrators’ fees and other administrative costs and expenses associated with the arbitration.

  

	 	(d)	 Confidentiality. The existence, content and results of any arbitration proceedings pursuant to this
Section 14.1.3 (Arbitration) will be deemed the Confidential Information of both Parties. 

  

	 	14.1.4.	 Notwithstanding any provision of this Agreement to the contrary, either Party may immediately initiate
litigation in any court of competent jurisdiction seeking any remedy at law or in equity, including the issuance of a preliminary, temporary or permanent injunction, to preserve or enforce its rights under this Agreement. 

 

	 	14.2.	 Patent Disputes and Disputes Relating to Article 6 (Intellectual Property Rights).

  

	 	14.2.1.	 Inventorship. Any dispute, controversy or claim between the Parties involving the inventorship of
any Licensed Patent Rights that is not resolved by mutual agreement of the Party’s respective chief patent counsels (or persons with similar responsibilities) within 30days after the date the dispute is raised by one or both of the Parties will
be submitted to an independent patent counsel mutually selected by each Party’s respective chief patent counsels (or persons with similar responsibilities) for resolution. Such independent patent counsel’s determination of inventorship,
absent manifest error, will be final and binding on the Parties; provided, however, that any such determination with respect to a patent application will not preclude either Party from disputing inventorship with respect to any patents issuing from
such patent application, which disputes will be resolved in accordance with this Section. The Parties will equally (50/50) share the independent patent counsel fees and expenses related to the independent patent counsel’s determination of
inventorship. 

  

	 	14.2.2.	 Other Patent Disputes. Any dispute, controversy or claim between the Parties that involves the
validity, scope, infringement, enforceability or ownership of the Parties’ respective Patent Rights (a) that are pending or issued in the United States will be subject to actions before the United States Patent and Trademark Office and/or
submitted exclusively to the federal court located in the jurisdiction where the defendant resides (provided that if such Party does not reside in the United States, venue will be the jurisdiction where such Party’s principal U.S. Affiliate
resides) and (b) that are pending or issued in any other country (or region) will be brought before an appropriate regulatory or administrative body or court in that country (or region), and the Parties hereby consent to jurisdiction and venue
in such courts and bodies. 

  
 38 

	 	14.2.3.	 Disputes Relating to Article 6 (Intellectual Property Rights). Any dispute, controversy or claim
between the Parties that relates to the enforcement of Article 6 (Intellectual Property Rights) hereof will be subject to action in any court of competent jurisdiction. 

 

	15.	 GENERAL PROVISIONS. 

 

	 	15.1.	 Assignment. Neither Party may assign this Agreement without the prior written consent of the
other Party, which consent will not be unreasonably withheld, conditioned or delayed, except that such consent will not be required in connection with any assignment to an Affiliate of the assigning Party, or to a Third Party in connection with a
sale or transfer of the business to which this Agreement relates, or to any successor Person resulting from any merger or consolidation of such Party with or into such Person, provided that the assignee will have agreed in writing to assume all of
the assignor’s obligations hereunder, and provided, further, that the other Party will be notified promptly after such assignment has been effected. Any such assignment will not relieve the assigning Party of any liabilities or obligations owed
to the other Party hereunder, without limitation, in the case of Licensee, the payment of any amounts described in Article 4 (Payment Terms) hereof. Any purported assignment of this Agreement in violation of this Section 15.1 (Assignment) will
be null and void. 

  

	 	15.2.	 Severability. If any clause or portion thereof in this Agreement is for any reason held to be invalid,
illegal or unenforceable, the same will not affect any other portion of this Agreement, as it is the intent of the Parties that this Agreement will be construed in such fashion as to maintain its existence, validity and enforceability to the
greatest extent possible. In any such event, this Agreement will be construed as if such clause or portion thereof had never been contained in this Agreement, and there will be deemed substituted therefor such provision as will most nearly carry out
the intent of the Parties as expressed in this Agreement to the fullest extent permitted by Applicable Law. 

  

	 	15.3.	 Governing Law. This Agreement, and all claims arising under or in connection therewith, will be
governed by and interpreted in accordance with the substantive laws of the State of New York, without regard to conflict of law principles thereof. 

  

	 	15.4.	 Waiver. No provision of this Agreement will be waived by any act, omission or knowledge of a Party or
its agents or employees except by an instrument in writing expressly waiving such provision and signed by a duly authorized officer of the waiving Party. The waiver by either of the Parties of any breach of any provision hereof by the other Party
will not be construed to be a waiver of any succeeding breach of such provision or a waiver of the provision itself. 

  

	 	15.5.	 Amendment. No amendment, modification or supplement of any provision of this Agreement will be valid or
effective unless made in writing and signed by a duly authorized officer of the Party to be bound. 

  
 39 

	 	15.6.	 Relationship of the Parties. The Parties understand and agree that this Agreement is limited to the
activities, rights and obligations as expressly set forth herein. Nothing herein contained will be deemed to create an employment, agency, joint venture or partnership relationship between the Parties hereto or any of their agents or employees, or
any other legal arrangement that would impose liability upon one Party for the act or failure to act of the other Party. Neither Party will have any express or implied power to enter into any contracts or commitments or to incur any liabilities in
the name of, or on behalf of, the other Party, or to bind the other Party in any respect whatsoever. 

  

	 	15.7.	 Successors and Assigns. This Agreement will be binding upon and inure to the benefit of the Parties
hereto and their respective successors and permitted assigns. 

  

	 	15.8.	 Notices. Any notice or notification required or permitted to be provided pursuant to the terms
and conditions of this Agreement will be in writing and will be deemed given upon receipt if delivered personally or by e-mail transmission (receipt verified), 5 Business Days after deposited in the mail if
mailed by certified mail (return receipt requested) postage prepaid, or on the next Business Day if sent by overnight delivery using a nationally recognized express courier service and specifying next Business Day delivery (receipt verified), to the
Parties at the following addresses (or at such other address for a Party as will be specified by like notice, provided, however, that notices of a change of address will be effective only upon receipt thereof): 

If to ImmunoGen: 
 ImmunoGen, Inc.

 830 Winter Street 
 Waltham,
MA 02451 
 Attn: Legal Department 

Email: legal.department@immunogen.com 

with a copy to: 
 ImmunoGen, Inc.

 830 Winter Street 
 Waltham,
MA 02451 
 Attn: Stacy Coen 

Email: stacy.coen@immunogen.com 

and 
 Ropes & Gray LLP

 Boylston Street, Prudential Tower 

Boston, MA 02199 
 Attention:
David M. McIntosh 
 Email: David.McIntosh@ropesgray.com 

  
 40 

 If to Licensee: 

Viridian Therapeutics, Inc. 
 213
Crescent St. 
 Building 17, Suite 102B 

Waltham, MA 02453 
 Attention:
Jonathan Violin 
 Email: jviolin@viridianbio.com 

with a copy to: 
 Hogan Lovells US
LLP 
 100 International Drive, Suite 2000 

Baltimore, MD 21093 
 Attention:
Asher M. Rubin 
 Email: Asher.Rubin@hoganlovells.com 

To help expedite the other Party’s awareness and response, copies of notices may be provided to the other Party by email but must be
supplemented by one of the following methods: (a) personal delivery, (b) first class certified mail with return receipt requested, or (c) next-day delivery by major international courier, with
confirmation of delivery. Electronic copies may be sent via email to the e-mail addresses provided above. 
  

	 	15.9.	 Further Assurances. Licensee and ImmunoGen hereby covenant and agree without the necessity of any
further consideration, to execute, acknowledge and deliver any and all such other documents and take any such other action as may be reasonably necessary or appropriate to carry out the intent and purposes of this Agreement. 

 

	 	15.10.	 No Third Party Beneficiary Rights. No provision of this Agreement will be deemed or construed in any way
to result in the creation of any rights or obligation in any Person not a Party to this Agreement. However, either Party may decide, in its sole discretion, to use one or more of its Affiliates to perform its obligations and duties hereunder,
provided that such Party will remain liable hereunder for the performance by any such Affiliates of any such obligations. 

  

	 	15.11.	 Entire Agreement; Confidentiality Agreement. This Agreement, including its Schedules, constitutes and
contains the complete, final and exclusive understanding and agreement of the Parties and cancels and supersedes any and all prior negotiations, correspondence, understandings and agreements, whether oral or written, between the Parties respecting
the subject matter hereof and thereof, including the CDA. 

  
 41 

	 	15.12.	 Cumulative Remedies. No remedy referred to in this Agreement is intended to be exclusive, but each will
be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. 

  

	 	15.13.	 Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection
with the review, drafting and negotiation of this Agreement. Accordingly, any rule of construction that any ambiguity in this Agreement will be construed against the drafting Party will not apply. 

 

	 	15.14.	 Interpretation. Except where the context expressly requires otherwise, (a) the use of any gender
herein will be deemed to encompass references to either or both genders, and the use of the singular will be deemed to include the plural (and vice versa), (b) the words “include”, “includes” and “including” will be
deemed to be followed by the phrase “without limitation”, except as the context requires (c) the word “shall” will be construed to have the same meaning and effect as the word “will” and vice versa, (d) any
definition of or reference to any agreement, instrument or other document herein will be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any
restrictions on such amendments, supplements or modifications set forth herein), (e) any reference herein to any Person will be construed to include the Person’s successors and assigns, (f) the words “herein”, “hereof”
and “hereunder”, and words of similar import, will be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (g) all references herein to Sections, Exhibits or Schedules will be construed to
refer to Sections, Exhibits or Schedules of this Agreement, and references to this Agreement include all Exhibits and Schedules hereto, (h) the word “notice” means notice in writing (whether or not specifically stated) and will
include notices, consents, approvals and other written communications contemplated under this Agreement, (i) provisions that require that a Party, the Parties or any committee hereunder “agree,” “consent” or
“approve” or the like will require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter, approved minutes or otherwise (but excluding e-mail and
instant messaging), (j) references to any specific law, rule or regulation, or article, section or other division thereof, will be deemed to include the then-current amendments thereto or any replacement or successor law, rule or regulation thereof,
and (k) the term “or” will be interpreted in the inclusive sense commonly associated with the term “and/or”. 

  

	 	15.15.	 Descriptive Headings. The descriptive headings of this Agreement are for convenience only and will be of
no force or effect in construing or interpreting any of the provisions of this Agreement. 

  

	 	15.16.	 Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed
an original, but all of which together will constitute one and the same instrument. If any signature is delivered by email delivery of a “pdf” format data file, such signature will create a valid and binding obligation of the

  
 42 

	 	
Party executing (or on whose behalf such signature is executed) with the same force and effect as if such “pdf” signature page were an original thereof. 

[Signature page to follow] 

  
 43 

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

			
	VIRIDIAN THERAPEUTICS, INC.	  	IMMUNOGEN, INC.
		
	 By: /s/ Jonathan
Violin                                        
                            

Name: Jonathan Violin
 Title: President and CEO
	  	 By: /s/ Stacy
Coen                                         
                               

Name: Stacy Coen
 Title: SVP, Chief Business Officer

 SCHEDULE 1.22 

EM164 V1.0 VARIABLE REGIONS DNA AND AMINO ACID SEQUENCES 

[***] 

 SCHEDULE 1.44 

LICENSED MATERIAL 
 [***]

 SCHEDULE 1.45 

LICENSED PATENT RIGHTS 

[***]Document

Exhibit 10.1

EMPLOYMENT AGREEMENT
This Employment Agreement (“Agreement”) is entered into as of December 7, 2020 by and between SolarWinds Worldwide, LLC, a Delaware limited liability company (the “Company”) and wholly-owned subsidiary of SolarWinds Corporation, a Delaware corporation (“Parent”), and Sudhakar Ramakrishna (“Employee”).
WHEREAS, the Company desires to employ Employee and Employee desires to be employed in the position of Chief Executive Officer, with a start date of January 4, 2020 (the “Start Date”).
NOW THEREFORE, in consideration of the mutual promises, covenants and agreements set forth below, the parties hereby agree as follows:
1.Position and Duties.
(a)The Employee will be employed by the Company, on a fulltime basis, as its President and Chief Executive Officer.  In this capacity, the Employee shall have the duties, authorities and responsibilities as are implied by the Employee’s position, and such other duties, authorities and responsibilities as the board of directors of the Company or the board of directors (the “Board”) of Parent shall reasonably assign from time to time. The Employee shall also be appointed to serve as a member of the Board, effective as of the Start Date.  Employee’s principal place of employment shall be at the Company’s corporate headquarters in Austin, Texas, but Employee understands and agrees that he will be required to travel from time to time for business purposes.
(b)The Employee agrees to perform the duties of Employee’s position and such other duties as may reasonably be assigned to the Employee from time to time. The Employee also agrees that, while employed by the Company, the Employee will devote substantially all of Employee’s business time and efforts to the advancement of the business and interests of the Company and its Affiliates and to the discharge of Employee’s duties and responsibilities for them. Notwithstanding the above, the Employee shall be permitted, to the extent such activities do not in the aggregate materially interfere with the performance by the Employee of Employee’s duties and responsibilities hereunder to: (i) manage Employee’s personal, financial and legal affairs; and (ii) serve on civic, educational, philanthropic or charitable boards or committees; and (iii) subject to disclosure to and initial approval by the Board (such approval not to be unreasonably withheld),  serve on any other corporate board or committee as long as such board or committee is not competitive with the Company or cause a conflict of interest with Employee’s duties at the Company (it being agreed that Employee shall not serve on more than two company boards, including one public company board, in addition to the Board, unless otherwise approved by the Board).  
(c)The Company acknowledges that, subject to disclosure to and initial approval by the Board (such approval not to be unreasonably withheld),  Employee may work for venture capital and/or private equity firms with respect to their current or potential portfolio companies and investments therein provided that Employee agrees not to advise with respect to any 
Page 1

company or investment thesis that would reasonably be considered related to a Competitive Business (as defined in the EPIA which is described below).
2.Compensation and Benefits. During Employee’s employment, as compensation for all services performed by the Employee for the Company and its Affiliates, the Company will provide the Employee the following pay and benefits.
(a)Base Salary. As of the Start Date, the Company will pay Employee a base salary at the rate of US$750,000 per year (“Base Salary”), payable in accordance with the regular payroll practices of the Company, which Base Salary shall be reviewed annually and may be increased from time to time by the Board in its discretion.
(b)Signing Bonus.  In addition, Employee will be paid a signing bonus of US$375,000 (the “Signing Bonus”), which will be paid to Employee on the next regular payroll date following the Start Date. In the event of termination of Employee’s employment by the Company for Cause or Employee’s voluntary resignation during the first year following the Start Date, Employee must repay the Company an amount in cash equal to a pro rata percentage (based on the remaining calendar months of unfulfilled service within in the first year following the Start Date) of the Signing Bonus. This repayment must be made within 30 days of the relevant termination. 
(c)Bonus Compensation.  Employee shall be eligible for a target annual bonus of 100% of Base Salary to be paid annually upon the achievement of company metrics established by the Board and individual performance factors that will be mutually determined by Employee and the Board, with a potential to earn a maximum bonus amount of 150% of Base Salary upon the over-achievement of those company metrics and individual performance factors that will be mutually determined by Employee and the Board (“Bonus Compensation”).  All Bonus Compensation payments under this Section 2(c) will be made in accordance with the regular payroll practices of the Company and the terms of the applicable Company bonus plan, are not guaranteed and are subject to change at any time for any reason.  The target annual bonus shall be reviewed and subject to change from time to time by the Board in its discretion. Notwithstanding the foregoing, subject to Employee’s continued employment and compliance with the terms and provisions of this Agreement, the Bonus Compensation payable to Employee for the 2021 fiscal year shall equal at least 100% of Base Salary, with a potential to earn a maximum bonus amount of 150% of Base Salary upon the over-achievement of those company metrics and individual performance factors that will be mutually determined by Employee and the Board.
(d)Equity Awards.   Parent shall grant the Employee equity awards with an aggregate initial value of US$17.0 million based on a trailing 30-day weighted average closing trading price of the Company’s common stock as of the day before the grant date, with US$13.5 million of such value in the form of restricted stock units (“RSUs”) and US$3.5 million of such value in the form of performance stock units (“PSUs”).  Each RSU and PSU represent the right to obtain common stock of Parent upon vesting.  Subject to applicable law, the RSUs will be granted no later than five (5) business days following the Start Date, and the PSUs will be granted in 2021 consistent with the timing of PSU grants to other similarly-situated senior 
Page 2

executives. The terms of these equity awards will be set out in Parent’s equity plans and the applicable agreements.  The initial RSUs will vest as follows: (i) 25% on the first anniversary of the Start Date and (ii) 6.25% in each quarter thereafter.  The initial PSUs will be subject to vesting upon both (i) the achievement of the 2021 annual performance targets established by the Board (the “Performance Target”) and (ii) time-based vesting with one-third of the PSU grant vesting on each anniversary of the certification of the achievement of the Performance target; provided that the certification shall be made in good faith by the Board no later than 30 days following receipt by the Board of the requisite information reasonably requested in connection with such certification.  Other than as set forth in this Agreement, the remaining terms of these equity awards will be set out in Parent’s equity plans and the applicable agreements.  Beginning in the 2022 fiscal year and for every year thereafter, subject to Employee’s continued employment and compliance with the terms and provisions of this Agreement, Employee shall become entitled to annual grants of a combination of RSUs and PSUs having an aggregate grant value of no less than US$7 million, with such value being determined as described above (the “Annual Grants”).  The Annual Grants shall be on terms and conditions consistent with those described above and in this Agreement. In the event of any spin-off, separation, or other disposition of some or all of Parent’s MSP business or the equity interests of Parent’s MSP business (a “Transformative Event”), Parent shall adjust Employee’s equity compensation by issuing more RSUs and PSUs, as applicable, such that the value and mix of each of Employee’s equity awards following the Transformative Event, taking into account the value of any cash dividend on shares of Parent’s common stock to the extent paid in connection with such Transformative Event, is no less than the value and mix immediately prior to the effective date of such Transformative Event.  To the extent Parent pays any dividend on shares of common stock (other than a dividend to effect the Transformative Event or a cash dividend on shares of Parent’s common stock in connection with the Transformative Event that has already been reflected in the adjustment made pursuant to the previous sentence), Employee shall be entitled to a corresponding dividend equivalent right, which may be in the form of cash, stock or restricted stock units, which form (and mix thereof) shall be as determined by the Compensation Committee or the Board but shall be to the same extent as and in a form no less favorable than as provided to other similarly-situated senior executives. The foregoing dividend equivalent rights shall be subjected to vesting to the same extent as the underlying award on which they are paid and shall be payable in accordance with the terms thereof.  
(e)Participation in Employee Benefit Plans and Vacation Policies. The Employee will be entitled to participate in all employee benefit plans and vacation policies in effect for similarly-situated employees of the Company. The Employee’s participation will be subject to the terms of the applicable plan documents and generally applicable Company policies.
(f)Business Expenses; Relocation. The Company will pay or reimburse the Employee for all reasonable business expenses incurred or paid by the Employee in the performance of Employee’s duties and responsibilities for the Company.  Reimbursements shall be subject to such reasonable substantiation and documentation as the Company may specify from time to time consistent with its policies for similarly-situated executives.  Employee agrees that, as soon as reasonably practicable, Employee shall relocate his primary residence to Austin, Texas, and in connection therewith, upon completion of Employee’s relocation, to the extent that 
Page 3

Employee’s reasonable, customary and documented cash expenses actually incurred in connection with such relocation exceed US$375,000, the Company shall reimburse Employee for the amount of such excess, up to a cap of US$125,000.  Prior to Employee’s relocation, the Company shall reimburse Employee for all necessary expenses incurred in connection with travel to Austin, Texas, in an amount mutually agreed between the parties to cover all direct and indirect costs of such arrangements.
(g)Attorney’s Fees.  The Company will make a payment, on Employee’s behalf and/or as a direct payment to Employee, an amount sufficient to cover the reasonable legal fees incurred by Employee in connection with the negotiation of this Agreement in an amount not to exceed $30,000.  
3.Confidential Information and Restricted Activities.  Employee has entered into the Company’s Employee Proprietary Information and Arbitration Agreement (“EPIA”) and acknowledges his or her obligations thereunder. The EPIA is specifically incorporated into this Agreement.
4.Termination of Employment. The Employee’s employment under this Agreement shall continue until terminated pursuant to this Section 4.
(a)Termination for Cause.  The Company may terminate the Employee’s employment for Cause following at least fifteen (15) days advance written notice to the Employee setting forth in reasonable detail the nature of the Cause. For purposes of this Agreement, “Cause” means any of the following: (i) the Employee’s continued substantial violations of Employee’s employment duties or willful disregard of commercially reasonable and lawful directives from the Board, after Employee has received a written demand for performance from the Board that sets forth the factual basis for the Company’s belief that Employee has not substantially performed Employee’s duties and willfully disregarded directives from the Board; (ii) the Employee’s moral turpitude, dishonesty or gross misconduct in the performance of Employee’s duties or which has materially and demonstrably injured the finances or future business of the Company or any of its Affiliates as a whole; (iii) the Employee’s material breach of this Agreement or the EPIA; or (iv) the Employee’s conviction of, or confession or plea of no contest to, any felony or any other act of fraud, misappropriation, embezzlement, or the like; provided, however, that no such act or event described in clauses (i) or (iii) of this paragraph (a) shall constitute Cause hereunder if the Employee has fully cured such act or event during the applicable fifteen (15) day notice period.
(b)Termination for Death or Disability.  This Agreement shall automatically terminate in the event of Employee’s death during employment. No severance pay or other separation benefits will be paid in the event of such termination due to death except that (i) Employee’s then-outstanding unvested RSUs with time-based vesting conditions shall fully accelerate such that all of Employee’s then-outstanding RSUs with time-based vesting conditions and any other equity-based awards subject to vesting only upon the achievement of any remaining time-based vesting conditions (i.e., any applicable Performance Target or other non-time-based vesting condition shall have been achieved) shall immediately and fully vest as of the date of such termination and (ii) Employee’s beneficiaries shall be entitled to receive any earned 
Page 4

but unpaid Base Salary, any bonus compensation to the extent earned but unpaid, any vested deferred compensation or equity-based awards (other than pension plan or profitsharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of the Company in which Employee is a participant to the full extent of Employee’s rights under such plans, and any appropriate business expenses incurred by Employee in connection with Employee’s duties hereunder, all to the date of termination (collectively “Accrued Compensation”). In the event the Employee becomes disabled during employment and, as a result, is unable to continue to perform substantially all of Employee’s duties and responsibilities under this Agreement for a consecutive period of up to twelve (12) weeks, the Company will continue to pay the Base Salary to Employee and benefits in accordance with Section 2(a) above during such period. If the Employee is unable to return to work after twelve (12) consecutive weeks of disability, the Company may terminate the Employee’s employment, upon notice to the Employee. No severance pay or other separation benefits will be paid in the event of such termination due to disability except that Employee’s then-outstanding unvested RSUs with time-based vesting conditions shall fully accelerate such that all of Employee’s then-outstanding RSUs with time-based vesting conditions and any other equity-based awards subject to vesting only upon the achievement of any remaining time-based vesting conditions (i.e., any applicable Performance Target or other non-time-based vesting condition shall have been achieved) shall immediately and fully vest as of the date of such termination. For the avoidance of doubt, all of Employee’s outstanding equity awards shall continue to vest during any period of disability prior to Employee’s termination.  If any question shall arise as to whether the Employee is disabled to the extent that Employee is unable to continue to perform substantially all of Employee’s duties and responsibilities for the Company, the Employee shall, at the Company’s request, and at the Company’s expense, submit to a medical examination by a physician selected by the Company to whom the Employee’s guardian, if any, has no reasonable objection to determine whether the Employee is so disabled and such determination shall for the purposes of this Agreement be conclusive of the issue. If such a question arises and the Employee fails to submit to the requested medical examination, the Company’s determination of the issue shall be binding on the Employee.
(c)Qualifying Terminations; Severance; Release.  Either the Company or Employee may terminate Employee’s employment “at will,” for any reason, at any time, without cause or notice. However, in the event of termination of the Employee’s employment by the Company other than for Cause, death or disability, or in the event of a Constructive Termination (defined below), the Employee shall be entitled to receive: 
(i)a lump sum cash severance amount equivalent to eighteen (18) months of Employee’s then current annual base salary, less applicable deductions, to be paid within sixty (60) days following the last day of Employee's employment with the Company;
(ii)any earned but unpaid Bonus Compensation payments for the year in which the termination occurs, on a pro rata basis, provided that the Board determines that the performance objectives related to the Bonus Compensation are reasonably likely to be satisfied at the time the notice of termination is given and based upon 
Page 5

the level at which the Board determines that the performance objectives are reasonably likely to be satisfied, to be paid at the time such Bonus Compensation payments would have been paid to Employee if Employee's employment had not been so terminated; 
(iii)reimbursement on a monthly basis of the health and dental care continuation premiums for Employee and Employee’s dependents incurred by Employee to effect continuation of health and dental insurance coverage for Employee and Employee’s dependents on the same basis as active employees, for the maximum period allowed by then-current law and in no event to exceed eighteen (18) months, to the extent that Employee is eligible for and elects continuation coverage under COBRA and to the extent such reimbursement would not result in excise taxes or similar liabilities for the Company and its Affiliates; and
(iv)Employee’s then-outstanding unvested RSUs and any other equity-based awards subject to vesting only upon the achievement of any remaining time-based vesting conditions (i.e., any applicable Performance Target or other non-time-based vesting condition shall have been achieved) shall accelerate with respect to the portion of such RSUs and other equity awards that would have vested within the twelve (12) month period following the date of termination. 
Any obligation of the Company to provide the Employee severance payments or benefits under this Section 4(c) in connection with Employee’s termination other than for Cause or in the event of a Constructive Termination is conditioned, however, upon the Employee signing and not revoking a release of claims in the form attached hereto as Exhibit A that becomes effective no later than seventy-four (74) days following the Employee’s termination date or such earlier date required by the release agreement (such deadline, the “Release Deadline”).  If the release does not become effective by the Release Deadline, the Employee will forfeit any rights to severance payments and benefits under this Section 4(c).  In no event will severance payments or benefits be paid or provided until the release actually becomes effective.  In the event the termination occurs at a time during the calendar year where the release could become effective in the calendar year following the calendar year in which the Employee’s termination occurs, then any severance payments or benefits under this Agreement that would be considered Deferred Compensation (as defined below) will be paid or provided on the first payroll date to occur during the calendar year following the calendar year in which such termination occurs, or, if later, the later of (i) the Release Deadline, or (ii) the Deferred Compensation Delayed Payment Date (as defined in Section 7 below).
(d)Benefits in Termination for Cause or Voluntary Resignation.  In the event of termination of the Employee’s employment by the Company for Cause or the Employee’s voluntary resignation, the Company will pay the Employee any Base Salary earned but not paid through the date of termination, any earned but unpaid bonus, and pay for any vacation time accrued but not used to that date. The Company shall have no obligation to the Employee for unearned bonus or severance payments.
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(e)Termination of Benefits.  Except for any right the Employee may have under the federal law known as “COBRA” to continue participation in the Company’s group health and dental plans, and subject to Section 4(c)(iii) above, benefits shall terminate in accordance with the terms of the applicable benefit plans based on the date of termination of the Employee’s employment, without regard to any continuation of base salary or other payment to the Employee following termination.
(f)Survival.  Provisions of this Agreement shall survive any termination if so provided in this Agreement or if necessary to accomplish the purposes of other surviving provisions, including without limitation the Employee’s obligations under Section 3 of this Agreement. The obligation of the Company to make payments to the Employee under this Section 4 is expressly conditioned upon the Employee’s continued full performance of the obligations under Section 3 hereof that survive the termination of Employee’s employment. Upon termination by either the Employee or the Company, all rights, duties and obligations of the Employee and the Company to each other shall cease, except as otherwise expressly provided in this Agreement.
5.Change of Control Benefits. In the event of a Change of Control, each Performance Target of Employee’s outstanding PSUs shall be deemed to have been achieved, and the PSU shall thereafter be subject only to time-based vesting based upon the following schedule: (i) 25% on the first anniversary of the grant date and (ii) 6.25% on each quarterly anniversary thereafter (or such other more favorable condition for PSU to RSU conversion, as may be agreed between Employee and the Company).  In the event of termination of the Employee’s employment by the Company other than for Cause, death or disability or in the event of Constructive Termination, in either case, in connection with, during the three (3) month period prior to, or during the twelve (12) month period after the effective date of, a Change of Control, the Employee shall be entitled to (i) the consideration set forth in Section 4(c) above, provided, however, that (x) the cash severance and COBRA reimbursements provided in Section 4(c)(i) and 4(c)(iii) shall cover a period of twenty-four (24) months, rather than eighteen (18) months as provided therein, and (y) the payment in Section 4(c)(ii) will be equal to 100% of the then-target Bonus Compensation; and (ii) accelerated vesting of all of Employee’s unvested equity awards (assuming achievement of the Performance Target in the case of PSUs), such that all of Employee’s then-outstanding equity awards shall immediately and fully vest as of the date of such termination.  For the avoidance of doubt, in order to give effect to this Section 5, each of Employee’s outstanding equity awards shall remain outstanding and eligible to vest (solely pursuant to the terms of this Section 5) for a period beginning on the date of termination and ending on the earlier to occur of (i) the effective date of the Change in Control and (ii) the three (3) month anniversary of the Employee’s termination.  Notwithstanding the foregoing, in the event that any of Employee’s equity awards would otherwise be cancelled and not replaced or substituted for in connection with a Change of Control, then to the extent not replaced or substituted for in connection with the Change of Control, such cancelled awards shall accelerate in full immediately prior to the effective date of such Change of Control.
6.Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise payable to the Employee (i) constitute “parachute 
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payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and (ii) but for this Section 6, would be subject to the excise tax imposed by Code Section 4999 (the “Excise Tax”), then the Employee’s severance benefits will be either: (a) delivered in full, or (b) delivered as to such lesser extent which would result in no portion of such severance benefits being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by the Employee on an aftertax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such severance benefits may be taxable under Code Section 4999. If a reduction in the severance and other benefits constituting “parachute payments” is necessary so that no portion of such severance benefits is subject to the Excise Tax, the reduction shall occur in the following order: (1) reduction of the cash severance payments; (2) cancellation of accelerated vesting of the Employee’s equity awards; and (3) reduction of continued employee benefits. In the event that acceleration of vesting of the Employee’s equity awards is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of the Employee’s equity awards. Unless the Company and the Employee otherwise agree in writing, any determination required under this Section 6 will be made in writing by an independent firm selected by the Company with the consent of Employee (the “Firm”), which consent shall not be unreasonably withheld, delayed or conditioned, immediately prior to the change of control, whose determination will be conclusive and binding upon the Employee and the Company for all purposes. For purposes of making the calculations required by this Section 6, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Code Sections 280G and 4999. The Company and the Employee will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section 6. The Company will bear all costs the Firm may reasonably incur in connection with any calculations contemplated by this Section 6.
If, prior to a change of control, none of the Company’s securities are “Tradable” (which shall mean “readily tradable on an established securities market or otherwise,” as described in Section 1.280G-1, Q/A-6 of the Treasury Regulations under Code Section 280G), then, upon your written request, the Company will submit any potential “parachute payments” in excess of three times your applicable “base amount” (as defined in Code Section 280G(b)(3)) for approval by the Company’s stockholders, all in accordance with Code Section 280G(b)(5). 
7.Section 409A. The foregoing provisions are intended to comply with the requirements of Code Section 409A and the final regulations and official guidance promulgated thereunder (“Section 409A”), so that none of the payments and benefits to be provided hereunder will be subject to the additional penalty tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The Company agrees to work together with the Employee in good faith to consider any and all amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax, interest penalty or accelerated income recognition prior to actual payment to the Employee under Section 409A. Notwithstanding anything to the contrary in this Agreement, no severance payments or severance benefits payable to the Employee upon termination of employment, if any, when considered together with any other severance payments or separation 
Page 8

benefits that are considered deferred compensation under Section 409A (“Deferred Compensation”) will be payable until the Employee has a “separation from service” within the meaning of Section 409A. Further, if at the time of the Employee’s termination of employment, the Employee is a “specified employee” within the meaning of Section 409A, payment of such Deferred Compensation will be delayed to the extent necessary to avoid the imposition of the additional tax imposed under Section 409A, which generally means that the Employee will receive payment on the first payroll date that occurs on or after the date that is six (6) months and one (1) day following the Employee’s termination of employment, or the Employee’s death, if earlier (the “Deferred Compensation Delayed Payment Date”).
8.Indemnification and Insurance. Parent and Employee will enter into an Indemnification Agreement (the “Indemnification Agreement”) (in the same form as other executive officers of the Company) for Employee’s benefit and such Indemnification Agreement shall not be terminated or modified during Employee’s employment with the Company; provided, however, that Parent may make immaterial amendments that are general to all indemnification agreements and do not materially impact Employee disparately from other indemnitees. The Company will maintain directors’ and officers’ liability insurance on market terms for similarly-situated companies during his employment and for a reasonable time thereafter (as permitted by the directors’ and officers’ liability insurance policy).
9.Definitions. For purposes of this Agreement, the following definitions apply:
“Affiliates” means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise.
“Change of Control” has the meaning given to such term in the Amended and Restated Stockholders’ Agreement, dated as of October 18, 2018, by and among Parent and certain of its stockholders named therein.  For the avoidance of doubt, (i) the Equity Investors (as defined in the Stockholders’ Agreement) ceasing to own more than 50% of Parent’s outstanding common stock shall not in and of itself constitute a Change of Control and (ii) the spin-off, separation, or other disposition of some or all of Parent’s MSP business or the equity interests of Parent’s MSP business shall not constitute a Change of Control.
 “Constructive Termination” means a termination in which the Company, without Employee’s express written consent, either (i) demotes  Employee from the position of Chief Executive Officer, (ii) materially reduces the authority, duties or responsibilities implied by Employee’s position, (iii) fails to elect (or re-elect) Employee to the Board or changes Employee’s reporting relationship, such that he no longer reports to the Board, (iv)  reduces the base salary or target cash bonus opportunity of Employee (other than a reduction of less than ten percent (10%) that is applicable to all executive officers of the Company in the same proportion as to the Employee), (v) fails to provide directors’ and officers’ liability insurance covering Employee during the term of his employment (which failure would be a material breach of this agreement), (vi) relocates Employee’s primary work facility or location to a location more than 35 miles from the location of the Company’s headquarters as-of the Start Date, or (vii) materially breaches this Agreement, which includes any breach of Section 2(d), and due to such act or event 
Page 9

Employee terminates his employment with the Company within thirty (30) days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of such acts or events; provided, however, that a relocation of less than thirty (30) miles from the Company’s corporate headquarters in Austin, Texas will not be considered a material change in geographic location and thus a termination by Employee for this reason shall not be construed as a Constructive Termination; and provided further, that Employee may not resign for Constructive Termination unless Employee first provides the Company with written notice of the acts or events constituting the grounds for Constructive Termination within ninety (90) days of the initial existence of the grounds for Constructive Termination and a reasonable cure period of thirty (30) days following the date of such notice, and such grounds for Constructive Termination have not been cured during such cure period.  For the avoidance of doubt, any change based upon or arising from the spin-off, separation, or other disposition of some or all of Parent’s MSP business or the equity interests of Parent’s MSP business shall not constitute a Constructive Termination.
10.Remedies. In the event of breach or threatened breach by the Employee of any provision of this Agreement, including the EPIA, the Company shall be entitled to (i) injunctive relief by temporary restraining order, temporary or preliminary injunction, or permanent injunction, (ii) recovery of all attorneys’ fees and costs incurred by the Company in obtaining such relief or as a result of the Employee’s breach or threatened breach, and (iii) any other legal and equitable relief to which the Employer may be entitled, including without limitation any and all monetary damages which the Employer may incur as a result of said breach or threatened breach. The Company may pursue any remedy available, without limitation, concurrently or consecutively in any order as to any breach, violation, or threatened breach or violation, and the pursuit of one such remedy at any time will not be deemed an election of remedies or waiver of the right to pursue any other remedy.
11.Conflicting Agreements. The Employee hereby represents and warrants that the Employee’s signing of this Agreement and the performance of the Employee’s obligations under it will not breach or be in conflict with any other agreement to which the Employee is a party or are bound and that the Employee is not now subject to any covenants against competition or similar covenants or any court order that could affect the performance of the Employee’s obligations under this Agreement.
12.Withholding. All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law.
13.Assignment. Neither the Employee nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the other. This Agreement shall inure to the benefit of and be binding upon the Employee and the Company, and each of our respective successors, executors, administrators, heirs and permitted assigns.
14.Severability.  If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this 
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Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.
15.Miscellaneous.  This Agreement, the EPIA, and the Indemnification Agreement set forth the entire agreement between the Employee and the Company and replace all prior and contemporaneous communications, agreements and understandings, written or oral, with respect to the terms and conditions of the Employee’s employment.  In the event of a conflict between the EPIA and this Agreement, the terms in the EPIA shall prevail. This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in writing by the Employee and an expressly authorized representative of the Board. The headings and captions in this Agreement are for convenience only and in no way define or describe the scope or content of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument.
16.Governing Law; Consent to Jurisdiction and Venue.  This Agreement shall be governed and construed in accordance with the laws of the State of Texas without regard to the conflict of laws principles thereof.  The Company and the Employee agree that jurisdiction and venue in any action brought pursuant to this Agreement to enforce its terms or otherwise with respect to the relationships between the Company and the Employee shall properly and exclusively lie in Travis County, Texas (or the federal court in Texas having jurisdiction therefore).  Such jurisdiction and venue are intended to be exclusive of any other jurisdiction or venue.  The Company and the Employee agree that they will not object that any action commenced in the foregoing jurisdiction is commenced in a forum non conveniens.  Employee agrees that he has in fact been individually represented by legal counsel in negotiating the terms of this agreement generally, and specifically to designate venue, forum and choice of law.
17.Notices. Any notices provided for in this Agreement shall be in writing and shall be effective when delivered in person or deposited in the United States mail, postage prepaid, and addressed to the Company at its principal place of business, to the attention of the General Counsel or in the case of the Employee, at the Employee’s last known address on the books of the Company (or to such other address as either party may specify by notice to the other actually received).
*    *    *
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IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of the date first written above.
						
	SOLARWINDS WORLDWIDE, LLC
		
	By:	/s/ Jason Bliss
		Name: Jason Bliss
		Title: General Counsel

						
	/s/ Sudhakar Ramakrishna 

	Sudhakar Ramakrishna 

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Exhibit A
Form of Release of Claims
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SEPARATION AND GENERAL RELEASE AGREEMENT
This Separation and General Release Agreement (the “Agreement”) is entered into between SolarWinds Worldwide, LLC (the “Company”) on the one hand, and [       ] (“Employee”) on the other.
1.Employee and the Company are currently parties to that certain Employment Agreement dated [      ] (the “Employment Agreement”).  Per the Employment Agreement, the Company has the right to terminate Employee’s employment without Cause (as defined therein) and Employee has the right to terminate Employee’s employment following a Constructive Termination (as defined in the Employment Agreement), subject, in each case, to certain benefits that would be received by Employee in that event (provided that Employee executes this Agreement prior to the Release Deadline (as defined in the Employment Agreement)).  Employee and the Company desire to enter into this Agreement as a substitute for certain provisions set forth in the Employment Agreement, and Employee recognizes that the benefits he will receive pursuant to this Agreement provide sufficient consideration for Employee’s agreements herein.
2.Both Employee and the Company are entering into this Agreement as a way of concluding the employment relationship between them, and settling voluntarily any dispute or potential dispute that Employee has or might have with the Company, whether known or unknown at this time.  This Agreement is not, and should not be construed as, an allegation or admission on the part of either Employee or the Company that either has acted unlawfully or violated any state or federal law or regulation.
3.In return for Employee’s full execution and non-revocation of this Agreement and the Release Agreement set forth as Exhibit A hereto (the “Release”), according to the timelines and procedures set forth herein and therein, and in consideration of the mutual covenants and promises contained herein and therein, the Company makes the following promises to which Employee concedes Employee would otherwise have no legal entitlement:
a.Employee’s employment with the Company will cease effective [      ], or on such other date that the Company and Employee shall mutually agree in writing (the “Termination Date”).  
b.Nothing in this Agreement is intended to reduce the number of Employee’s outstanding stock options and restricted stock units granted to Employee prior to the date of this Agreement (the “Equity Awards”).  Each Equity Award shall remain subject to the terms and conditions of the Employment Agreement and the relevant existing equity award agreement.  Provided that Employee executes and returns this Agreement on or before [_______], and does not revoke it before the Effective Date (defined in Section 15), and provided that Employee has not been terminated for Cause and has not voluntarily 
1

resigned employment between now and the Effective Date, Employee’s outstanding Equity Awards shall accelerate pursuant to the terms of the Employment Agreement.
c.Provided that Employee executes and returns this Agreement on or before [_______], and does not revoke it before the Effective Date (defined in Section 15), and provided that Employee has not been terminated for Cause and has not voluntarily resigned employment between now and the Effective Date, Employee shall receive:  (i) a lump sum payment on the next regular payroll date after the Effective Date of [______], less applicable withholdings and deductions; (ii) a payment equivalent to the amount of Employee’s accrued [Q__] bonus (subject to executive performance metrics), less applicable withholdings and deductions, to be received by Employee in accordance with the Company’s typical bonus payment timing; (iii) reimbursement for the amount of Employee’s premium payment for group health coverage, if any, elected by Employee pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)(the reimbursement, the “Health Benefit”); provided, however, that Employee shall be solely responsible for all matters relating to his or her continuation of coverage pursuant to COBRA, including (without limitation) his or her election of such coverage and his or her timely payment of premiums.
4.In exchange for the covenants and promises of the Company as set forth herein, Employee does hereby completely release and forever discharge the Company and its respective parent companies, subsidiaries, affiliates, divisions, business units, and current and former officers, directors, agents, employees, attorneys, successors and assigns (collectively, the “Released Parties”) from all claims, rights, demands, actions, obligations, liabilities, and causes of action of any and every kind, nature and character whatsoever, which Employee may now have or has ever had arising or in any way connected with Employee’s employment with the Company or any of the Released Parties, including Employee’s planned separation from employment, and any transaction or occurrence between Employee and the Released Parties at any time prior to or during such employment up to the time of executing this document (“Released Claims”).  The Released Claims include, without limitation, any and all claims based upon the Company’s decision to terminate Employee’s employment and any and all claims for breach of the Employment Agreement, as well as all other claims from the beginning of time to the date this Agreement is executed based upon contract, fraud, equity, tort, discrimination, harassment, retaliation, wrongful termination, personal injury, constructive discharge, emotional distress, public policy, wage and hour law, defamation, claims for debts, accounts, attorneys’ fees, compensatory damages, punitive damages, and/or liquidated damages, any claims arising out of Employee’s participation in any incentive, stock, or option plan maintained by any of the Released Parties, and any and all claims arising under the Americans with Disabilities Act, the Family and Medical Leave Act, Title VII of the Civil Rights Act of 1964, all claims under 42 U.S.C. 1981, the Equal Pay Act, the Employee Retirement Income Security Act of 1974, the Occupational Safety and Health Act, the Workers Adjustment Retraining and Notification Act, 
2

the Texas Commission on Human Rights Act, the Texas Labor Code, the North Carolina General Statutes, and any other federal, state, or local statute governing employment, as such statutes may have been or may be amended from time to time, to the maximum extent such released claims are permitted by law.  This Release does not extend to, and has no effect upon, any right to vested benefits, any indemnification rights under contract or under the Company’s organizational documents or applicable law, and any right to continued coverage by the Company’s or its parent’s director’s and officer’s insurance following the Termination Date, as set forth in the insurance policy. 
5.Without in any way limiting the generality of the above paragraph, by signing this Agreement and accepting the severance outlined above, Employee specifically agrees to release all claims, rights, or benefits Employee may have for age discrimination arising out of or under the Age Discrimination in Employment Act of 1967, 29 U.S.C. § 621 (“ADEA”), et seq. as the ADEA may have been or may be amended, or any equivalent or comparable provision of state or local law.
6.Employee represents and warrants that Employee does not presently have on file, and further represents and warrants to the maximum extent allowed by law that Employee will not hereafter file, any lawsuits, claims, charges, grievances or complaints against the Company and/or the Released Parties in or with any administrative, state, federal or governmental entity, agency, board or court, or before any other tribunal or panel or arbitrators, public or private, based upon any actions or omissions by the Company and/or the Released Parties occurring prior to the date Employee signs this Agreement, with the exception of claims to challenge the validity of this Agreement under the Age Discrimination in Employment Act or the Older Workers Benefit Protection Act.  To the extent that Employee is still permitted, notwithstanding this Agreement, to file any administrative charge with any governmental agency, Employee hereby releases any personal entitlement to reinstatement, back pay, or any other types of damages or injunctive relief in connection with any civil action brought on Employee’s behalf after Employee’s filing of any administrative charge.
7.Employee agrees not to disparage or in any way criticize the Company and/or its parent companies, subsidiaries, affiliates, and current or former employees, officers, directors, agents, successors and assigns at any time during or following Employee’s employment by the Company. Employee also agrees to fully cooperate and assist the Company in resolving any and all claims, disputes, or lawsuits made or filed against the Company during the course of Employee’s employment, and likewise, to the extent permitted by law, will not voluntarily assist in any future or pending legal proceeding brought against the Company.  The Company agrees that its executive officers and directors will not disparage or in any way criticize Employee’s work performance or character at any time.  Nothing contained in this paragraph is intended to prevent either party or any affiliated person from testifying truthfully in any legal proceeding.  
3

8.Employee acknowledges that Employee shall have no rights to post-employment payments, benefits, or otherwise except as set forth in this Agreement and the Employment Agreement.  Employee and the Company also agree, however, that the remaining terms of the Employment Agreement shall continue, including those obligations that apply following Employee’s termination of employment.  Employee also shall continue to be bound by the terms and conditions set forth in the Employee Proprietary Information Agreement (“EPIA”).  Employee understands and agrees that a breach of any continuing obligations contained in the EPIA shall also constitute a breach of this Agreement.
9.Both parties agree that the terms of this Agreement shall be treated as confidential, and that Employee shall not disclose such details to any person or entity, except where required by law or pursuant to a statutorily protected right that cannot be waived by law; provided, however, that each party may disclose the terms of this Agreement to its accountants, legal and/or contract advisors and, in the case of Employee, his immediate family beneficiaries.
10.Employee hereby agrees that by signing this Agreement and by accepting the promises and benefits described above, Employee gives up any and all rights Employee may have to file or pursue any claim or action which Employee may now have, has ever had, or may in the future have, with respect to any matter pertaining to or arising from Employee’s employment or termination of employment with the Company or any transaction or occurrence between Employee and the Released Parties at any time prior to or during such employment and after separation up to the time of executing this document.  In addition, Employee waives any and all rights or benefits which Employee may have under any statute or ordinance which requires a specific release of unknown claims or benefits.
11.It is further understood and agreed that if, at any time, a violation of any term of this Agreement is asserted by any party hereto, that party shall have the right to seek specific performance of that term and/or any other necessary and proper relief, including but not limited to damages, and the prevailing party shall be entitled to recover its reasonable costs and attorneys’ fees, except that the Company shall not, by virtue of this Agreement, be entitled to recover its costs or attorneys’ fees resulting from challenges to the validity of this Agreement by Employee under the Age Discrimination in Employment Act or the Older Workers Benefit Protection Act.
12.Employee is personally responsible for the payment of all federal, state and local taxes that are due, or may be due, for any payments or other consideration received by Employee under this Agreement.  
13.The foregoing provisions, and the payments and benefits provided therein, are intended to comply with the requirements of Code Section 409A and the final regulations and official guidance promulgated thereunder (“Section 409A”), so that none of the payments and benefits to be provided hereunder will be subject to the additional penalty tax imposed under 
4

Section 409A, and any ambiguities herein will be interpreted to so comply. The Company agrees to work together with Employee in good faith to consider any and all amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax, interest penalty or accelerated income recognition prior to actual payment to Employee under Section 409A. Notwithstanding anything to the contrary in this Agreement, no severance payments or severance benefits payable to Employee upon termination of employment, if any, when considered together with any other severance payments or separation benefits that are considered deferred compensation under Section 409A (the “Deferred Compensation”) will be payable until Employee has a “separation from service” within the meaning of Section 409A. Further, if at the time of Employee’s termination of employment, Employee is a “specified employee” within the meaning of Section 409A, payment of such Deferred Compensation will be delayed to the extent necessary to avoid the imposition of the additional tax imposed under Section 409A, which generally means that Employee will receive payment on the first payroll date that occurs on or after the date that is six (6) months and one (1) day following Employee’s termination of employment, or Employee’s death, if earlier (the “Deferred Compensation Delayed Payment Date”).
14.Employee is advised to consult counsel regarding the terms of this Agreement, and acknowledges that Employee has had sufficient time to review this Agreement and to consult counsel prior to entering into this Agreement.  Employee agrees that Employee is aware of the contents and significance of all the provisions of this Agreement and that Employee has decided to enter into it voluntarily.  Employee and the Company are each relying solely upon their own respective judgment, belief and knowledge with regard to the subject of this Agreement, and each acknowledges that Employee has not been influenced or pressured to any extent whatsoever in entering into this Agreement by any representations, inducements, promises or other statements by any other party to this release, or anyone else, which are not set forth herein.
15.Employee has twenty-one (21) days from the date Employee received this Agreement to consider this Agreement, and Employee may revoke this Agreement at any time during the first seven (7) days following Employee’s execution of this Agreement by delivering written notice of revocation to the Company’s General Counsel, no later than 5:00 p.m. on the seventh day after execution.  Employee received this Agreement on [_______].  Employee represents that if Employee executes this Agreement before the twenty-one (21) day consideration period has passed, Employee does so voluntarily, and Employee knowingly and voluntarily waives Employee’s option to use the entire twenty-one (21) days to consider this Agreement.  The Company’s offer contained in this Agreement will automatically expire if this Agreement, fully executed by Employee, is not received by Company’s General Counsel on or before [_______].  This Agreement will become effective, irrevocable and fully enforceable upon the expiration of seven (7) days following the date of Employee’s execution of the Agreement (the “Effective Date”), provided that Employee has timely executed and delivered this Agreement and has not exercised Employee’s right to revoke this Agreement.
5

16.This Agreement is binding upon and shall inure to the benefit of all parties hereto and each of their respective heirs, executors, administrators, successors, assigns, agents, and representatives.
17.Should any provision of this Agreement be declared or be determined by any court to be illegal or invalid, the validity of the remaining parts or provisions shall not be effected thereby and said illegal or invalid part, term or provision(s) shall be deemed not to be a part of this Agreement.
18.This Agreement, along with Exhibit A attached hereto and any documents referenced herein, incorporates the entire understanding among the parties on the subjects hereof and thereof, and recites the sole consideration for the promises exchanged herein.  There are no other representations or terms relating to Employee’s employment relationship or the conclusion of that relationship other than those set forth in writing in this Agreement.  This Agreement may only be modified by a writing signed by both parties.  In reaching this Agreement, no party has relied upon any representation or promise except those expressly set forth herein, and this Agreement shall be interpreted in accordance with the plain meaning of its terms, and not strictly for or against any of the parties hereto.
19.The parties agree to each bear their own respective costs associated with the preparation and review of this Agreement and the performance of all acts necessary to implement this Agreement.  The parties further agree to execute such other and further papers and documents as may be necessary and proper in order to fulfill the specific terms and conditions of this Agreement.
20.Each of the parties expressly agrees that, except as otherwise specifically set forth above, this Agreement and any and all actions, claims and proceedings relating to or resulting from Employee’s employment or termination of employment with the Company shall be governed by the laws of the State of Texas and each of the parties expressly agree that jurisdiction shall be proper in the County of Travis, Texas.
21.In signing this Agreement, Employee and the Company acknowledge that both have read this Agreement, both fully understand all of the provisions of it and the consequences of signing it, and agree to all of its conditions.
6

EMPLOYEE UNDERSTANDS THAT THIS AGREEMENT IS A BINDING CONTRACT THAT SHALL BAR ALL LITIGATION, CLAIMS AND DEMANDS OF EVERY KIND BY EMPLOYEE AGAINST THE COMPANY AS PROVIDED ABOVE, AND THAT ALL SUCH CLAIMS ARE FULLY AND FINALLY SETTLED, COMPROMISED AND RELEASED.
IN WITNESS WHEREOF, Employee does hereby execute this Agreement on this _____ day of _____________________, 2020.
			
	
	[EMPLOYEE NAME]

IN WITNESS WHEREOF, the Company does hereby execute this Agreement on this _____ day of _____________________, 2020.
						
	
	SOLARWINDS WORLDWIDE, LLC
		
		Name:
		Title:
		

7

EXHIBIT A
EMPLOYEE PROPRIETARY INFORMATION AGREEMENT
(see attached.)
8

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