Document:

Amended and Restated Registration Rights Agreement

 Exhibit 10.1 
 SYNAGEVA BIOPHARMA CORP. 
 AMENDED AND RESTATED 

INFORMATION AND REGISTRATION RIGHTS AGREEMENT 
 April 1, 2009 
 Amended September 25, 2009 

Amended March 15, 2011 
 Amended November 2, 2011 

 TABLE OF CONTENTS 
  

											
	 	    	 	    	 	    	 	  	Page	 
			
	1.	    	 Certain Definitions
	  	 	5	  
			
	2.	    	 Financial Statements and Reports to Stockholders
	  	 	7	  
				
		    	2.1	    	 Financial Statements and Reports to Holders and SBIC Investors
	  	 	7	  
		    	2.2	    	 Covenants of the Company
	  	 	8	  
			
	3.	    	 SBIC Investors’ Inspection Rights
	  	 	11	  
			
	4.	    	 Right of First Refusal on New Securities
	  	 	11	  
				
		    	4.1	    	 Investor Right of First Refusal
	  	 	11	  
		    	4.2	    	 General Conditions
	  	 	11	  
			
	5.	    	 Termination of Covenants
	  	 	13	  
			
	6.	    	 Demand Registration
	  	 	13	  
				
		    	6.1	    	 Request for Registration on Form Other Than Form S-3
	  	 	13	  
		    	6.2	    	 Right of Deferral of Registration
	  	 	14	  
		    	6.3	    	 Limitations on Required Registration
	  	 	14	  
		    	6.4	    	 Registration of Other Securities in Demand Registration
	  	 	15	  
		    	6.5	    	 Underwriting in Demand Registration
	  	 	15	  
					
		    		    	6.5.1	    	 Notice of Underwriting
	  	 	15	  
		    		    	6.5.2	    	 Inclusion of Other Holders in Demand Registration
	  	 	15	  
		    		    	6.5.3	    	 Selection of Underwriter in Demand Registration
	  	 	15	  
		    		    	6.5.4	    	 Marketing Limitation in Demand Registration
	  	 	15	  
		    		    	6.5.5	    	 Right of Withdrawal in Demand Registration
	  	 	16	  
				
		    	6.6	    	 Blue Sky in Demand Registration
	  	 	16	  
			
	7.	    	 Piggyback Registration
	  	 	16	  
				
		    	7.1	    	 Notice of Piggyback Registration and Inclusion of Registrable Securities
	  	 	16	  
		    	7.2	    	 Underwriting in Piggyback Registration
	  	 	16	  
					
		    		    	7.2.1	    	 Notice of Underwriting in Piggyback Registration
	  	 	16	  
		    		    	7.2.2	    	 Marketing Limitation in Piggyback Registration
	  	 	17	  
		    		    	7.2.3	    	 Allocation of Shares in Piggyback Registration
	  	 	17	  

  
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		    		    	7.2.4	    	 Withdrawal in Piggyback Registration
	  	 	17	  
				
		    	7.3	    	 Blue Sky in Piggyback Registration
	  	 	18	  
			
	8.	    	 Expenses of Registration
	  	 	18	  
			
	9.	    	 Reports Under Exchange Act
	  	 	18	  
			
	10.	    	 Termination of Registration Rights
	  	 	19	  
			
	11.	    	 Registration Procedures and Obligations
	  	 	19	  
			
	12.	    	 Information Furnished by Holder
	  	 	21	  
			
	13.	    	 Indemnification
	  	 	21	  
				
		    	13.1	    	 Company’s Indemnification of Holders
	  	 	21	  
		    	13.2	    	 Holder’s Indemnification of Company
	  	 	21	  
		    	13.3	    	 Indemnification Procedure
	  	 	22	  
		    	13.4	    	 Contribution
	  	 	22	  
		    	 13.5
	    	 Conflicts
	  	 	23	  
		    	13.6	    	 Survival
	  	 	23	  
			
	14.	    	 Limitations on Registration Rights Granted to Other Securities
	  	 	23	  
			
	15.	    	 Transfer of Rights
	  	 	23	  
			
	16.	    	 Market Stand-off
	  	 	24	  
			
	17.	    	 No-Action Letter or Opinion of Counsel in Lieu of Registration
	  	 	25	  
			
	18.	    	 Miscellaneous
	  	 	25	  
				
		    	18.1	    	 Governing Law
	  	 	25	  
		    	18.2	    	 Counterparts
	  	 	25	  
		    	18.3	    	 Headings
	  	 	25	  
		    	18.4	    	 Notices
	  	 	25	  
		    	18.5	    	 Amendment of Agreement
	  	 	26	  
		    	18.6	    	 Severability
	  	 	26	  
		    	18.7	    	 Delays or Omissions
	  	 	26	  
		    	18.8	    	 Entire Agreement; Successors and Assigns
	  	 	26	  
		    	18.9	    	 Merger with Trimeris, Inc.
	  	 	26	  

  
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 AMENDED AND RESTATED 

INFORMATION AND REGISTRATION RIGHTS AGREEMENT 
 THIS AMENDED AND RESTATED INFORMATION AND REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of April 1, 2009 by and among SYNAGEVA BIOPHARMA CORP., a Delaware corporation
(the “Company”), and the persons listed on the attached Schedule 1.1 who are signatories to this Agreement (collectively, the “Investors”). 
 RECITALS 
 A. The Company and certain of the Investors have entered into a
certain agreement for sale by the Company and purchase by certain of the Investors of the Company’s Series D-:2 Preferred Stock (the “Series D-2 Holders”), and the Company desires to grant to the Series D•2 Holders a right
of first refusal on future financings, rights to certain information and registration rights pursuant to this Agreement. 
 B.
Pursuant to that certain 2007 Amended and Restated Information and Registration Rights Agreement dated September 28, 2007 (the “First Prior Agreement”) by and among the Company and holders of the Company’s Preferred Stock,
the Company granted the holders of Preferred Stock a right of first refusal in future financings, rights to certain information and registration rights related to the Company’s Preferred Stock. 

C. In accordance with the First Prior Agreement, which provided that the First Prior Agreement may be amended only by Holders (as
hereinafter defined) of 70% or more of the then outstanding “Registrable Securities” (as defined in the First Prior Agreement) consent to any amendment to the First Prior Agreement, the Company and the Investors amended and restated the
First Prior Agreement in its entirety on April 1, 2009 (as amended and restated, the “Second Prior Agreement”) to provide the holders of Preferred Stock, including holders of Series D-2 Preferred Stock, with the right of first refusal
in future financings, rights to certain information and registration rights as set forth herein. 
 D. Section 18.5 of the
Second Prior Agreement requires that persons holding at least 70% or more of the then outstanding “Registrable Securities” (as defined in the Second Prior Agreement) consent to any amendment to the Second Prior Agreement. 

E. The Company and certain of the Investors holding at least 70% of the “Registrable Securities” (as defined in the Second
Prior Agreement) entered into a Letter Agreement on September 25, 2009 (the “Letter Agreement”), amending the terms of the Second Prior Agreement. 
 F. The Company and the Investors desire to include the terms of the Letter Agreement in this Agreement as set forth herein, thereby amending the Second Prior Agreement. 

  
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 THE PARTIES AGREE AS FOLLOWS: 

1. Certain Definitions. 
 As used in this Agreement, the following terms shall have the following respective meanings: 
 (a) “Commission” shall mean the Securities and Exchange Commission or any other federal agency at the time of Registration administering the Securities Act. 

(b) “Convertible Securities” shall mean outstanding securities of the Company convertible into or exchangeable for
Common Stock of the Company or into other securities that are convertible into or exchangeable for Common Stock, including but not limited to the shares of the Company’s Series D-2 Preferred Stock, Series C-2 Preferred Stock, Series B¬2
Preferred Stock and Series A-2 Preferred Stock, held by the Investors. 
 (c) “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 

(d) “Holder” shall mean any holder of outstanding Registrable Securities which have not been sold to the public, but
only if such holder is one of the Investors or an assignee or transferee of Registration rights as permitted by Section 15. 
 (e) “Initiating Holders” shall mean Holders who in the aggregate hold at least 20% of the Registrable Securities then held by all Holders of Registrable Securities, or a lesser number of
Registrable Securities sufficient to comprise a reasonably anticipated aggregate offering price to the public exceeding $7,000,000. 
 (f) “Long-Form Registration Statement” shall mean a registration statement on Form 5-1, Form S-2, Form SB-1 or Form SB-2, or any similar form of registration statement adopted by the
Commission from and after the date hereof 
 (g) “Major Investors” shall mean every Holder that holds 60,000
(together with its affiliates) or more Registrable Securities. 
 (h) “Material Adverse Event” shall mean an
occurrence or disclosure having a consequence that either (a) is materially adverse as to the business, properties or financial condition of the Company or (b) is reasonably foreseeable, has a reasonable likelihood of occurring, and if it
were to occur might materially adversely affect the business, properties or financial condition of the Company. 
 (i) The terms
“Register”, “Registered”, and “Registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act (“Registration
Statement”), and the declaration or ordering of the effectiveness of such Registration Statement. 

  
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 (j) “Registrable Securities” shall mean all Common Stock not previously
sold to the public and issued or issuable upon conversion or exercise of any of the Company’s Convertible Securities purchased by or issued to the Investors or held by Holders, including Common Stock issued pursuant to stock splits, stock
dividends and similar distributions, and any securities of the Company granted registration rights pursuant to Section 15 of this Agreement. 
 (k) “Registration Expenses” shall mean all expenses incurred by the Company in complying with Sections 6 through 9 of this Agreement, including, without limitation, all federal and state
registration, qualification, and filing fees, printing expenses, fees and disbursements of counsel for the Company and one special counsel for Holders (if different from the Company), blue sky fees and expenses, and the expense of any special audits
incident to or required by any such registration. 
 (1) “Related Transaction” shall mean any transaction,
whether direct or indirect, with the Company where any current or former shareholder, director, officer or employee of the Company or any relative or “associate” (as defined in the rules and regulations promulgated under the Securities
Exchange Act of 1934, as amended) of any such person provides services (other than employment of such individuals by the Company) by or to, or the sale of products by or to, or rental of real or personal property from or to or transfer or license
technology, intellectual property or know-how (except for assignment of such to the Company in connection with employment or consultancy relationships with the Company), or otherwise requiring cash payments to or by, any such person in excess of an
aggregate of $1,000, other than the employment of such individuals, options granted to or exercised by such individuals pursuant to the Company’s 1996 Stock Option Plan or 2005 Stock Option Plan and purchases of securities of the Company by
such individuals on the same terms as other third party investors and other than a Participation Plan as may be adopted by the Board of Directors. 
 (m) “SBA” shall mean the United States Small Business Administration. 
 (n) “SBIC Act” shall mean the Small Business Investment Act of 1958, as amended. 
 (o) “SBIC Investors” shall mean TD Javelin Capital Fund II, L.P., a Delaware limited partnership, and TD Lighthouse Capital Fund, L.P., a Delaware limited partnership, each of which is a
small business investment company licensed by the SBA, and their successors and assigns. 
 (p) “Securities
Act” shall mean the Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 

(q) “Selling Expenses” shall mean all underwriting discounts and selling commissions applicable to the sale of
Registrable Securities pursuant to this Agreement. 
 (r) “Series D-2 Purchase Agreement” shall mean that
certain Series D-2 Preferred Stock Purchase Agreement by and among the Company and the Investors identified therein, dated as of April 1, 2009. 

  
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 (s) “Short-Form Registration Statement” shall mean a registration statement
on Form S-3 or any similar form of registration statement adopted by the Commission from and after the date hereof. 
 (t)
“Qualified IPO” shall mean a firm commitment underwritten public offering of shares of Common Stock of the Company at a per share price not less than $7.00 per share (as appropriately adjusted for stock splits, dividends,
reclassifications, etc.) and for total net proceeds (after deduction of Selling Expenses) of at least $50 million. 
 (u)
“Tax” or “Taxes” means (A) any and all federal, state, provincial, local, foreign and other taxes, levies, fees, imposts, duties, and similar governmental charges (including any interest, fines, assessments,
penalties or additions to tax imposed in connection therewith or with respect thereto) including, without limitation (x) taxes imposed on, or measured by, income, franchise, profits or gross receipts, and (y) ad valorem, value added,
capital gains, sales, goods and services, use, real or personal property, capital stock, license, branch, payroll, estimated withholding, employment, social security (or similar), unemployment, compensation, utility, severance, production, excise,
stamp, occupation, premium, windfall profits, transfer and gains taxes, and customs duties, and (B) any transferee liability in respect of any items described in (A) above. 

2. Financial Statements and Reports to Stockholders. 

2.1 Financial Statements and Reports to Holders and SBIC Investors. 

The Company will furnish or cause to be furnished to the Major Investors and SBIC Investors: 

(a) Monthly Reports. Within thirty (30) days after the end of each month, monthly financial statements (including a balance sheet
and a statement of operations for the month and year-to-date, each in comparative form with the previous month); all prepared in accordance with GAAP consistently applied, with management’s analysis of results and a statement of the Chief
Financial Officer explaining any material differences from budget. The foregoing financial statements shall be certified by the Chief Executive Officer or Chief Financial Officer of the Company to the effect that such statements fairly present the
financial position and financial results of the Company for the fiscal period covered. “GAAP” shall mean United States generally accepted accounting principles. 
 (b) Annual Financial Statements. Within ninety (90) days after the end of each fiscal year of the Company (i) the consolidated and consolidating balance sheets of the Company as at the end of
such year, and (ii) the related consolidated and consolidating statements of income, retained earnings and cash flows for such year, setting forth in comparative form with respect to such consolidated financial statements figures for the
previous fiscal year, all in reasonable detail, together with the opinion thereon of the Company’s independent certified public accountants, which opinion shall state that such financial statements have been prepared in accordance with GAAP
applied on a basis consistent with that of the preceding fiscal year (except for changes, if any, which shall be specified and approved in such opinion) and that the audit by such accountants in connection with such financial statements has been
made in 

  
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accordance with generally accepted auditing standards related to reporting. Notwithstanding the above, if circumstances merit and at the election of the Board of Directors, the annual audit and
rendering of the opinion by the Company’s independent certified public accountants may be extended for a period not to exceed two hundred seventy (270) days. 
 (c) Budget and Operating Forecast. For each fiscal year of the Company, at least 30 days prior to the beginning of each fiscal year, a business plan, projections and monthly budget for the coming year,
together with a capital expenditures budget, approved by the Company’s Board of Directors; and such budget shall be accepted as the Company’s budget for such fiscal year when it has been approved by a majority vote of the Board of
Directors. The approved budget shall be reviewed by the Company periodically and all necessary changes or revisions to such budget shall be resubmitted to the Board of Directors and shall be accepted when approved in accordance with, and the Company
shall not make any such changes to the budget without such approval in accordance with, the majority of the Board of Directors. 

(d) Other Information for SBIC Investors. Promptly, from time to time, such other information regarding the business, prospects,
financial condition, operations, property or affairs of the Company as the SBIC Investors reasonably may request including any information required for SBA Form 468 and any other information reasonably requested or required by any governmental
agency asserting jurisdiction over the SBIC Investors for the sole purpose of verifying the Company’s continued eligibility as a small business concern. 
 (e) Information Covenant for SBIC Investors. Within sixty (60) days after the end of the fiscal year of the Company, the Company will furnish or cause to be furnished to the SBIC Investors
information required by the SBA concerning the economic impact of the SBIC Investors investment, for (or as of the end of) each fiscal year, including but not limited to, information concerning full-time equivalent employees; Federal, state and
local income taxes paid, gross revenue; source of revenue growth; after-tax profit or loss; and Federal, state and local income tax withholding. Such information shall be forwarded by Company on a form provided by the SBIC Investors. The Company
also will furnish or cause to be furnished to the SBIC Investors such other information regarding the business, affairs and condition of the Company as the SBIC Investors may from time to time reasonably request for the sole purpose of verifying the
Company’s continued eligibility as a small business concern. 
 This right to receive information as provided in this Section 2.1 is
in addition to any other right provided under the Bylaws of the Company or pursuant to applicable law. 
 2.2 Covenants of
the Company. 
 (a) Board Meetings. The Company shall reimburse all reasonable and documented expenses actually incurred by
the members of the Board of Directors designated or elected by the Holders in connection with their attendance at the meetings of the Board of Directors and its committees, and other meetings and events attended by such Board members on behalf of
the Company or at the Company’s request. 
 (b) Confidential Information and Inventions Agreement. Unless otherwise
determined by the Board of Directors, the Company shall require all future officers, employees 

  
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and consultants of the Company to execute and deliver a Employee Confidential Information and Inventions Agreement in substantially the form of Exhibit 5.9 to the Series D-2 Purchase Agreement.

 (c) Stock Plans. The Company may sell shares of stock and grant options to employees, advisors, officers, and directors of,
and consultants to, the Company only pursuant to such arrangements, contracts, or plans as are recommended by management and approved by the Board of Directors. 
 (d) Use of Proceeds. The Company certifies that it will use the proceeds from the Investors for the purposes and in the amounts set forth in Section 7.2 of the Series D-2 Purchase Agreement. The
Company will deliver to the SBIC Investors from time to time promptly following the SBIC Investors request, a written report, certified as correct by the Company’s Chief Executive Officer or Chief Financial Officer, verifying the purposes and
amounts for which proceeds from the sale of shares of the Company’s Convertible Securities have been disbursed. The Company will supply to the SBIC Investors and Major Investors such additional information and documents as the SBIC Investors
and Major Investors reasonably request with respect to its use of proceeds and will permit the SBIC Investors and Major Investors to have access to any and all Company records and information and personnel as the SBIC Investors and Major Investors
deem necessary to verify how such proceeds have been or are being used, and to assure that the proceeds have been used for the purposes specified on Section 7.2 of the Series D-2 Purchase Agreement. 

(e) SBIC Permitted Activities and Proceeds. So long as any SBIC Investor is a holder of Registrable Securities, or until the SBIC
Investor waives its rights under this Section 2.2(e): 
 (i) Neither the Company nor any of its affiliates will engage in
any activities or use directly or indirectly the proceeds from the sale of the Registrable Securities for any purpose for which a small business investment company is prohibited from providing funds by the SBIC Act, including 13 C.F.R. §107.
The general categories are (A) relenders or reinvestors, (B) passive businesses, (C) real estate businesses, (D) project financing, and (E) foreign investment. 

(ii) Without obtaining the prior written approval of the SBIC Investors, the Company will not change within one (1) year of the
date of this Agreement the Company’s business activity to a business activity which a small business investment company is prohibited from providing funds by the SBIC Act. The Company agrees that any such changes in its business activity
without such prior written consent of the SBIC Investors will constitute a material breach of the obligations of the Company under this Agreement (an “Activity Event of De fault”). If an Activity Event of Default occurs, the SBIC Investors
have the right to demand immediate repayment of the securities evidencing the sale of the Registrable Securities, together with interest on the aggregate amount invested from the date of the sale of the Registrable Securities to the date of
repayment, and the Company will immediately make such payment within thirty (30) days of receipt of a demand. The payment remedy is in lieu of any and all other rights and remedies against the Company and others to which the SBIC Investors may
be entitled. 

  
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 (f) Management Rights. The SBIC Investors and Major Investors shall be entitled to consult
with and advise management of the Company on significant business issues, including management’s proposed annual operating plans, and upon request management will meet with the SBIC Investors and Major Investors regularly during each year at
the Company’s facilities at mutually agreeable times for such consultation and advice and to review progress in achieving said plans. 
 (g) Press Releases. The Company agrees to give the SBIC Investors advanced notice of, and to consult with the SBIC Investors concerning the content of, any public announcements that the Company intends to
make. 
 (h) Taxes. The Company shall pay all Taxes imposed upon it or its income or profits or in respect of its property,
before the same shall become in default; provided, however, that the Company shall not be required to pay and discharge or to cause to be paid and discharged any such Taxes so long as the validity or amount thereof shall be contested in good faith
by appropriate proceedings. The Company, shall set aside on its books such reserves as are required by GAAP with respect to any such Taxes. 
 (i) System of Accounting. The Company shall maintain a system of 
 accounting established and
administered in accordance with GAAP, and shall set aside on its books all such proper reserves as shall be required by GAAP consistently applied. 
 (j) Loans and Investments. The Company will not make any loan or advance (other than advances in the ordinary course of business consistent with past practice with regard to valid business expenses) or
extend credit to any person or entity (other than trade credit in the ordinary course consistent with past practice), or make any investment in such person or entity, or its securities, except (A) investments in United States Treasury
obligations, (B) certificates of deposit, bankers acceptances and other “money market instruments” (excluding auction rate securities) issued by any bank or trust company organized under the laws of the United States or any state
thereof and having capital and surplus not less than $100,000,000, (C) open market commercial paper bearing, Standard & Poor’s highest credit rating or by another similar nationally recognized firm, and repurchase agreements with
any bank or trust company organized under the laws of the United States or any state thereof and having capital and surplus not less than $100,000,000 relating to United States government obligations, in each case maturing in less than one year, and
(D) investments in mutual funds registered under the Investment Company Act of 1940, which have net assets of at least $200,000,000 and at least 85% of whose assets consist of obligations having an investment grade credit grading from either
Standard & Poor’s Company or Moody’s Investors Service, Inc. and/or equity securities of entities that have obligations with such credit ratings. 
 (k) Related Transaction. The Company shall not, directly or indirectly, enter into any Related Transaction other than on an arm’s length basis, on terms no less favorable to the Company than could be
obtained from non-related persons and with the prior approval of the Board of Directors. 

  
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 (1) Regulatory Compliance Cooperation for SBIC Investors. The Company agrees that the SBIC
Investors and any SBA examiner shall have the rights of access and information specified in 13 C.F.R. §107.620 (and any successor provision). 
 3. SBIC Investors’ Inspection Rights. 
 The Company will permit
the SBIC Investors or their representatives, at the SBIC Investors expense, and examiners of the SBA to visit and inspect the properties and assets of the Company, to examine its books of account and records, and to discuss the Company’s
affairs, finances and accounts with the Company’s officers, senior management and accountants, all at such reasonable times as may be requested by the SBIC Investors or the SBA for the sole purpose of verifying the Company’s continued
eligibility as a small business concern. The SBIC Investors shall maintain the confidentiality of any confidential and proprietary information so obtained by them which is not otherwise available from other sources that are free from similar
restrictions; provided, however, that the foregoing, shall in no way limit or otherwise restrict the ability of the SBIC Investors or their authorized representatives to disclose any such information concerning the Company which they may be required
to disclose (a) to their partners, board members or stockholders, to the extent required to satisfy their fiduciary obligations to such persons, or (b) otherwise pursuant to or as required by law. 

4. Right of First Refusal on New Securities. 
 4.1 Investor Right of First Refusal. 
 The Company hereby grants to each
Holder that is at the applicable time an “accredited investor” within the meaning of Rule 501 promulgated by the Commission (each individually, a “Rightholder,” and collectively, the “Rightholders”) (assuming at the
applicable time that offers and sales of New Securities are being made only to “accredited investors”) the right of first refusal to purchase its pro rata share of New Securities (as defined in Section 4.2) that the Company may from
time to time propose to sell and issue after the date of this Agreement. For the issuance of New Securities, such Rightholder’s pro rata share is the ratio of the number of shares of capital stock of the Company owned by the Rightholder
(assuming conversion or exchange into Common Stock of all Convertible Securities) immediately prior to the issuance of the New Securities to the total number of shares of capital stock of the Company then outstanding (assuming conversion or exchange
into Common Stock of all Convertible Securities). 
 4.2 General Conditions. 

The above rights of first refusal shall be subject to the following provisions: 

(a) “New Securities” shall mean any Common Stock or Preferred Stock of the Company, whether now authorized or not, and
rights, options, or warrants to purchase any Common Stock or Preferred Stock of the Company and debt or equity securities of any type whatsoever that are, or may become, convertible into or exchangeable for Common Stock or Preferred Stock;
provided, however, that “New Securities” does not include (i) securities offered to the public in a firmly underwritten offering pursuant to a registration statement filed under the Securities Act; (ii) securities
issued pursuant to the acquisition of another entity by the Company 

  
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by merger, purchase of substantially all of the assets, or other reorganization (except as a vehicle for investing funds or conducting a financing); (iii) shares of the Company’s Common
Stock (or related options) issued to officers, directors, employees or consultants of the Company pursuant to any stock offering, plan or arrangement approved by the Board of Directors; (iv) securities issued in connection with any stock split,
stock dividend or recapitalization by the Company affecting all classes and series of Common Stock and Preferred Stock proportionately; (v) securities issued in connection with equipment leasing transactions approved by the Company’s Board
of Directors, including the directors elected by the Series D-2 Holders; (vi) securities issued to the Series D-2 Holders pursuant to the Series D-2 Purchase Agreement dated on or about the date hereof; (vii) Common Stock or Preferred
Stock issued upon the conversion, exercise or exchange of any securities issued pursuant to the Series D-2 Purchase Agreement or prior to the date hereof and disclosed in the Schedules to the Series D•2 Purchase Agreement;
(viii) securities issued in connection with license or sponsored research arrangements with strategic technology alliances approved by the Board of Directors, including the directors elected by the Series D-2 Holders; or (ix) any
securities deemed not to be New Securities by the holders of at least 70% of the Registrable Securities. 
 (b) If the Company
proposes to undertake an issuance of New Securities, it shall give the Rightholders written notice of its intention, describing the type of New Securities, the price and the general terms upon which the Company proposes to issue the same. The
Rightholders shall have twenty (20) days from the date of mailing of any such notice to agree to purchase their respective pro rata share of such New Securities for the price, and upon the general terms specified in the notice, by giving
written notice to the Company and stating therein the quantity of New Securities to be purchased. The Rightholders accepting such offer (the “Participating Rightholders”) may condition their acceptance on completion of the entire
transaction within a specified period of time at such price and on such other terms, participation of other Rightholders, or other reasonable criteria. 
 (c) If not all of the Rightholders elect to purchase their pro rata share of the New Securities, then the Company shall promptly notify in writing New Leaf Ventures II, L.P. (“New Leaf”) and
shall offer New Leaf the right to acquire such unsubscribed New Securities up to an amount so that the total amount of securities of the Company owned by new Leaf upon exercise of this right, taken together with all securities of the Company
previously acquired by New Leaf, shall not exceed 15% of the outstanding shares of Preferred Stock of the Company, taking into account the issuance of the New Securities (the “New Leaf Participation Right”), provided that New Leaf
(together with its affiliates) shall not at any time hold more than 15% of the Company’s outstanding Preferred Stock as a result of this New Leaf Participation right. New Leaf shall have ten (10) days after receipt of any such notice to
notify the Company of its election to purchase all or a portion thereof of the unsubscribed New Securities. Upon the earlier of New Leaf (i) holding 15% of the outstanding Preferred Stock or (ii) electing not to exercise its New Leaf
Participation Right in relation to an issuance of New Securities, the Company will have no further obligation to offer the New Leaf Participation Right to New Leaf. If New Leaf fails to exercise in full such New Leaf Participation Right or increases
its ownership to 15% of the Company’s Preferred Stock or if there are otherwise unsubscribed New Securities, the Company shall promptly notify in writing the Participating Rightholders who do so elect to purchase at least their pro rata share
of the New Securities (including New Leaf, if applicable) and shall offer such Participating Rightholders the right to acquire such unsubscribed shares in a 

  
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pro rata fashion. For avoidance of doubt, except pursuant to the New Leaf Participation Right as set forth in this Section 4.2(c), New Leaf may acquire or otherwise hold more than 15% of the
outstanding Preferred Stock of the Company. The Participating Rightholders shall have five (5) days after receipt of such notice to notify the Company of its election to purchase all or a portion thereof of the unsubscribed shares. If the
Participating Rightholders fail to exercise in full the rights of first refusal, the Company shall have ninety (90) days thereafter to sell the New Securities in respect of which the Rightholders’ rights were not exercised, at a price and
upon general terms and conditions not materially more favorable to the purchasers thereof than specified in the Company’s notice to the Rightholders pursuant to Section 4.2(b) hereof. If the Company has not sold such New Securities within
ninety (90) days of the notice provided pursuant to Section 4.2(b), the Company shall not thereafter issue or sell any New Securities, without first offering such securities to the Rightholders in the manner provided above. 

5. Termination of Covenants. 
 The covenants of the Company set forth in Section 2 and the right of first refusal set forth in Section 4 shall be terminated and be of no further force or effect upon the earliest of
(a) the consummation of a Qualified IPO, (b) a merger or consolidation in which the surviving corporation is a reporting company under the Exchange Act, (c) the date the Company registers any securities under the Exchange Act, and
(d) with respect to a particular Holder or Investor, at such times and for so long as the Holder or Investor no longer holds any shares of capital stock of the Company. 
 6. Demand Registration. 
 6.1 Request for Registration on Form
Other Than Form S-3. 
 (a) Subject to the terms of this Agreement, if the Company shall receive from the Initiating Holders
at any time after the earlier of December 31, 2011 and the Company’s initial public offering of shares of Common Stock under a Registration Statement, a written request that the Company effect any Registration with respect to at least 20%
of the Registrable Securities then held by all Holders of Registrable Securities, or a lesser number of Registrable Securities sufficient to comprise a reasonably anticipated aggregate offering price to the public not less than $7,000,000, the
Company shall at its expense (i) promptly give written notice of the proposed Registration to all other Holders and shall (ii) use its best efforts to effect Registration of the Registrable Securities specified in such request, together
with any Registrable Securities of any Holder joining in such request as are specified in a written request given within twenty (20) days after such Holder’s receipt of written notice of the Proposed Registration from the Company.

 (b) If, at any time at which the Company is eligible to file a registration statement on a Short-Form Registration Statement,
Holders propose to sell Registrable Securities with a reasonably anticipated aggregate offering price of at least $750,000 pursuant to a Short-Form Registration Statement, and if such Holders give the Company a written request that the Company
effect such Registration, the Company shall at its expense (i) promptly give written notice of the proposed Registration to all other Holders and shall (ii) use its best efforts to effect Registration of the Registrable Securities
specified in such request, together with any Registrable 

  
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Securities of any Holder joining in such request as are specified in a written request given within twenty (20) days after such Holder’s receipt of written notice of the proposed
Registration from the Company. The Company shall not be obligated to effect an initial public offering under this Section 6.1 unless such offering is a Qualified IPO (as appropriately adjusted for stock splits, dividends, reclassifications,
etc.). 
 6.2 Right of Deferral of Registration. 

The Company shall not be obligated to file a registration statement pursuant to this Section 6: 

(a) in any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting
such registration, qualification, or compliance unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 
 (b) If the Company, within ten (10) days of the receipt of the request of the Initiating Holders, gives notice of its bona fide intention to effect the filing of a registration statement with the
Commission within sixty (60) days of receipt of such request (other than with respect to a registration statement relating to a Rule 145 transaction or an offering solely to employees), provided that the Company is actively employing in good
faith all reasonable efforts to cause such registration statement to become effective; 
 (c) Within the one hundred eighty
(180) day period immediately following the effective date of the registration statement pertaining to the initial public offering of securities of the Company; or 
 (d) if the Company shall furnish to such Holders a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors it would be seriously detrimental to
the Company or its shareholders for a registration statement to be filed in the near future, then the Company’s obligation to use its best efforts to file a registration statement shall be deferred for a period not to exceed one hundred twenty
(120) days from the receipt of the request to file such registration by such Holder provided that the Company shall not exercise the right contained in this paragraph (iv) more than once in any twelve (12) month period. 

6.3 Limitations on Required Registration. 
 The Company shall not be required to prepare and file (i) more than two (2) Long-Form Registration Statements, which actually become or are declared effective at the request of the Initiating
Holders pursuant to Section 6.1(a) hereof, or (ii) more than two (2) Short-Form Registration Statements in any 12 month period which actually become and are declared effective at the request of the Initiating Holders pursuant to
Section 6.1(b) hereof If pursuant to Section 6.5.4 the number of Registrable Securities to be included in a Registration is reduced by more than 50%, then such Registration shall not be counted toward the foregoing limitation on the number
of demand Registrations. 

  
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 6.4 Registration of Other Securities in Demand Registration. 

Any Registration Statement filed pursuant to the request of the Initiating Holders under this Section 6 may, subject to the
provisions of Section 6.5, include securities of the Company other than Registrable Securities. 
 6.5 Underwriting in
Demand Registration. 
 6.5.1 Notice of Underwriting. 

If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an underwriting, they
shall so advise the Company as a part of their request made pursuant to this Section 6, and the Company shall include such information in the written notice referred to in Section 6.1. The right of any Holder to Registration pursuant to
Section 6 shall be conditioned upon such Holder’s agreement to participate in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting. 

6.5.2 Inclusion of Other Holders in Demand Registration. 

If the Company, officers or directors of the Company or any other holders of Common Stock or other securities other than Registrable
Securities (collectively, “Other Stockholders”), request inclusion in such Registration, the Company may, upon obtaining the prior written consent of Holders of at least 70% of the Registrable Securities proposed to be included in
such Registration, offer to any of such Other Stockholders (including for its own account) the right to include securities held by such Other Stockholders in the underwriting and may condition such offer on the acceptance by such persons of the
terms of this Section 6. 
 6.5.3 Selection of Underwriter in Demand Registration. 

In connection with a Registration effected pursuant to Section 6.1, the Company shall (together with all Holders proposing to
distribute their securities through such underwriting) enter into an underwriting agreement with the representative (“Underwriter’s Representative”) of the underwriter or underwriters selected for such underwriting by the Holders of a
majority of the Registrable Securities being registered by the Initiating Holders, provided the same is reasonably acceptable to the Company. 
 6.5.4 Marketing Limitation in Demand Registration. 
 In the event the
Underwriter’s Representative advises the Initiating Holders in writing that market factors (including, without limitation, the aggregate number of shares of Common Stock requested to be Registered, the general condition of the market, and the
status of the persons proposing to sell securities pursuant to the Registration) require a limitation of the number of shares to be underwritten in the Registration initiated under this Section 6, then (i) first the Common Stock (other
than Registrable Securities) held by officers or directors of the Company shall be excluded from such Registration, (ii) next the securities other than Registrable Securities shall be excluded, (iii) next the securities requested to be
registered by the Company shall be excluded from such Registration, and (iv) finally, to the extent required by such limitation, the number of shares of Registrable Securities that may be included in the Registration and underwriting shall be
allocated among all Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities entitled to inclusion in such 

  
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Registration held by such Holders at the time of filing the Registration Statement. No Registrable Securities or other securities excluded from the underwriting by reason of this
Section 6.5.4 shall be included in such Registration Statement. 
 6.5.5 Right of Withdrawal in Demand
Registration. 
 If any Holder of Registrable Securities, or a holder of other securities entitled (upon request) to be
included in such Registration, disapproves of the terms of the underwriting, such person may elect to withdraw therefrom by written notice to the Company, the underwriter and the Initiating Holders delivered at least seven days prior to the
effective date of the Registration Statement. The securities so withdrawn shall also be withdrawn from the Registration Statement. 
 6.6 Blue Sky in Demand Registration. 
 In the event of any Registration
pursuant to Section 6, the Company will exercise its reasonable best efforts to Register and qualify the securities covered by the Registration Statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably
appropriate for the distribution of such securities. Notwithstanding anything in this Agreement to the contrary, in the event any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in
connection with the qualification of the securities be borne by selling shareholders, such expenses shall be payable pro rata by selling shareholders. 
 7. Piggyback Registration. 
 7.1 Notice of Piggyback Registration
and Inclusion of Registrable Securities. 
 Subject to the terms of this Agreement, if the Company decides to Register any of its Common
Stock (either for its own account or the account of other security holders (other than a Registration under Section 6)) the Company will at its expense: (i) promptly give each Holder written notice thereof (which shall include a list of
the jurisdictions in which the Company intends to attempt to qualify such securities under the applicable Blue Sky or other state securities laws) at least thirty (30) days prior to the effective date of the applicable Registration Statement
and (ii) include in such Registration (and any related qualification under Blue Sky laws or other compliance), and in any underwriting involved therein, all the Registrable Securities specified in a written request delivered to the Company by
any Holder within twenty (20) days after such Holder’s receipt of such written notice of the proposed Registration from the Company; provided, however, that no Holder shall have rights pursuant to this Section 7 two
(2) years after the Company’s first public offering under the Securities Act if such Holder can sell all of such Holder’s Registrable Securities pursuant to Securities Act Rule 144 within a three (3) month period. 

7.2 Underwriting in Piggyback Registration. 
 7.2.1 Notice of Underwriting in Piggyback Registration. 
 If the
Registration of which the Company gives notice is for a Registered public offering involving an underwriting, the Company shall so advise the Holders as a part of the written 

  
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notice given pursuant to Section 7.1. In such event, the right of any Holder to Registration shall be conditioned upon such underwriting and the inclusion of such Holder’s Registrable
Securities in such underwriting to the extent provided in this Section 7. All Holders proposing to distribute their securities through such underwriting shall (together with the Company and the other holders distributing their securities
through such underwriting) enter into an underwriting agreement with the Underwriter’s Representative for such offering. The Holders shall have no right to participate in the selection of the underwriters for an offering pursuant to this
Section 7. 
 7.2.2 Marketing Limitation in Piggyback Registration. 

If the Underwriter’s Representative advises the Holders seeking registration of Registrable Securities pursuant to Section 7 in
writing that market factors (including, without limitation, the aggregate number of shares of Common Stock requested to be Registered, the general condition of the market, and the status of the persons proposing to sell securities pursuant to the
Registration) require a limitation of the number of shares to be underwritten, the Underwriter’s Representative (subject to the allocation priority set forth in Section 7.2.3) may: 

(a) in the case of the Company’s initial Registered public offering, exclude some or all Registrable Securities from such
registration and underwriting; and 
 (b) in the case of any Registered public offering subsequent to the initial public
offering, limit the number of shares of Registrable Securities to be included in such Registration and underwriting to not less than 25% of the securities included in such Registration (based on aggregate market values). 

7.2.3 Allocation of Shares in Piggyback Registration. 
 If the Underwriter’s Representative limits the number of shares to be included in a Registration pursuant to Section 7.2.2, the number of shares to be included in such Registration shall be
allocated (subject to Section 7.2.2) in the following manner: the shares (other than Registrable Securities) held by officers or directors of the Company shall be excluded from such registration and underwriting to the extent required by such
limitation. If a limitation of the number of shares is still required after such exclusion, the securities requested by the Company or any holders of securities other than the Holders of Registrable Securities shall be excluded, provided that if the
Registration originated for the purpose of permitting the Company to sell its securities pursuant to a firm commitment public offering, no more than 20% of the securities proposed to be sold by the Company shall be excluded. If a limitation of the
number of shares is still required after such exclusion, the number of shares that may be included in the Registration and underwriting by selling shareholders shall be allocated among all Holders of Registrable Securities entitled to inclusion in
such Registration, in proportion, as nearly as practicable, to the respective amounts of Registrable Securities which such Holders would otherwise be entitled to include in such Registration. No Registrable Securities or other securities excluded
from the underwriting by reason of this Section 7.2.3 shall be included in the Registration Statement. 
 7.2.4
Withdrawal in Piggyback Registration. 
 If any Holder disapproves of the terms of any such underwriting, such person may
elect to withdraw therefrom by written notice to the Company and the underwriter delivered at least 

  
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seven days prior to the effective date of the Registration Statement. Any Registrable Securities or other securities excluded or withdrawn from such underwriting shall be withdrawn from such
Registration. 
 7.3 Blue Sky in Piggyback Registration. 

In the event of any Registration of Registrable Securities pursuant to this Section 7, the Company will exercise its reasonable best
efforts to Register and qualify the securities covered by the Registration Statement under such other securities or Blue Sky laws of such jurisdictions (not exceeding twenty (20) unless otherwise agreed to by the Company) as shall be reasonably
appropriate for the distribution of such securities. Notwithstanding anything in this Agreement to the contrary, in the event any jurisdiction in which the securities shall be qualified imposes a non-waivable requirement that expenses incurred in
connection with the qualification of the securities be borne by selling shareholders, such expenses shall be payable pro rata by selling shareholders. 
 8. Expenses of Registration. 
 All Registration Expenses incurred in
connection with two Long-Form Registrations, four Short-Form Registrations and unlimited Registrations pursuant to Section 7 and fees and disbursements of one counsel for the Holders selected by the Holders and reasonably acceptable to the
Company not to exceed $50,000 for any single Registration shall be borne by the Company. All Registration Expenses incurred in connection with any other registration, qualification, or compliance, shall be apportioned among the Holders and other
holders of the securities so registered on the basis of the number of shares so registered. Notwithstanding the above, the Company shall not be required to pay for any expenses of any Registration proceeding begun pursuant to Section 6 if the
Registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered, unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one demand
registration pursuant to Section 6; provided further, however, that if at the time of such withdrawal, the Holders have learned of a Material Adverse Event with respect to the Company not known to the Holders at the time of their request, then
the Holders shall not be required to pay any of such expenses and shall retain their rights pursuant to Section 6. All Selling Expenses shall be borne by the holders of the securities Registered pro rata on the basis of the number of shares
Registered. 
 9. Reports Under Exchange Act. 

With a view to making available to the Holders the benefits of Securities Act Rule 144 promulgated under the Securities Act and any other
rule or regulation of the Commission that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a Registration, the Company agrees to: 

(a) use its reasonable best efforts to make and keep public information available, as those terms are understood and defined in
Securities Act Rule 144, at all times after ninety (90) days after the effective date of the first registration statement under the Act filed by the Company for the offering of its securities to the general public; 

  
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 (b) take such action, including the voluntary registration of its Common Stock under
Section 12 of the Exchange Act as is necessary to enable the Holders to utilize Short-Form Registration Statement for the sale of their Registrable Securities, such action to be taken as soon as practicable after the end of the fiscal year in
which the first registration statement filed by the Company for the offering of its securities to the general public is declared effective; 
 (c) use its reasonable best efforts to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and 

(d) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by
the Company that it has complied with the reporting requirements of Securities Act Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its securities
to the general public), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Short-Form Registration
Statement (at any time after it so qualifies), (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably
requested by a Holder in availing itself of any rule or regulation of the Commission which permits a Holder to sell any such securities without registration or pursuant to such form. 

10. Termination of Registration Rights. 
 The rights to receive notice pursuant to Section 7 and to cause the Company to register securities granted under Sections 6 and 7 of this Agreement shall terminate, with respect to each Holder, on
the date five years after the closing date of the Company’s Qualified IPO. 
 11. Registration Procedures and
Obligations. 
 Whenever required under this Agreement to effect the registration of any Registrable Securities, the
Company shall, as expeditiously as reasonably possible: 
 (a) Prepare and file with the Commission a Registration Statement
with respect to such Registrable Securities and use its reasonable best efforts to cause such Registration Statement to become effective, and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep
such Registration Statement effective for up to one hundred twenty (120) days. 
 (b) Prepare and file with the Commission
such amendments and supplements to such Registration Statement and the prospectuses used in connection with such registration statement as may be necessary to keep such registration statement effective and current and comply with the provisions of
the Securities Act with respect to the disposition of all securities covered by such Registration Statement. 
 (c) Furnish to
the Holders such numbers of copies of a prospectus, including preliminary prospectuses, in conformity with the requirements of the Securities Act, and such other documents as they may reasonably request in order to facilitate the disposition of
Registrable Securities owned by them. 

  
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 (d) Use its reasonable best efforts to register and qualify the securities covered by such
registration statement under such other securities or Blue Sky laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify
to do business or to file a general consent to service of process in any such states or jurisdictions. 
 (e) In the event of
any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter of such offering and take such other usual and customary action as the Holders of a
majority of the Registrable Securities to be included in such Registration may request in order to facilitate the disposition of such Registrable Securities. 
 (f) Notify each Holder of Registrable Securities covered by such Registration Statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening
of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in the light of the circumstances then existing. The Company will use all reasonable efforts to amend or supplement such prospectus in order to cause such prospectus not to include any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 
 (g) Provide a transfer agent and registrar for all Registrable Securities registered pursuant to such Registration Statement and a CUSIP number for all such Registrable Securities, in each case not later
than the effective date of such registration. 
 (h) Furnish, at the request of any Holder whose Registrable Securities are
included in any Registration pursuant to this Agreement, on the date that such Registrable Securities are delivered to the underwriters for sale in connection with a registration pursuant to this Agreement, (i) an opinion, dated such date, of
the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders, and (ii) a
letter dated such date, from the independent certified public accountants of the Company, in form and substance as is customarily given by independent certified public accountants to underwriters in an underwritten public offering, addressed to the
underwriters. 
 (i) Cause all such Registrable Securities to be included in a Registration pursuant to this Agreement to be
listed on each securities exchange or other securities trading markets or which similar securities issued by the Company are then listed. 

  
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 12. Information Furnished by Holder. 

Each Holder of Registrable Securities included in any Registration shall furnish to the Company such information regarding such Holder
and the distribution proposed by such Holder or Holders as the Company may reasonably request. 
 13. Indemnification.

 13.1 Company’s Indemnification of Holders. 

To the extent permitted by law, the Company will indemnify each Holder, each of its officers, directors, and constituent partners, legal
counsel for each Holder, and each person controlling such Holder, with respect to which Registration, related qualification, or related compliance of Registrable Securities has been effected pursuant to this Agreement, and each underwriter, if any,
and each person who controls any underwriter within the meaning of the Securities Act against all claims, losses, damages, or liabilities (or actions in respect thereof) to the extent such claims, losses, damages, or liabilities arise out of or are
based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus or other document (including any related Registration Statement) incident to any such Registration, qualification, or compliance,
or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act or any state securities law applicable to the Company and relating to action or inaction required of the
Company in connection with any such Registration, qualification, or compliance; and the Company will pay as incurred to each such Holder, each such underwriter, and each person who controls any such Holder or underwriter, any legal and any other
expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action; provided, however, that the indemnity contained in this Section 13.1 shall not apply to amounts paid in
settlement of any such claim, loss, damage, liability, or action if settlement is effected without the consent of the Company (which consent shall not unreasonably be withheld); and provided, further, that the Company will not be liable in any such
case to the extent that any such claim, loss, damage, liability, or expense arises out of or is based upon any untrue statement or omission contained in such prospectus or other document based upon written information furnished to the Company by
such Holder, underwriter, or controlling person and stated to be for use therein. 
 13.2 Holder’s Indemnification of
Company. 
 To the extent permitted by law, each Holder (severally and not jointly) will, if Registrable Securities held by
such Holder are included for sale in the Registration and related qualification and compliance effected pursuant to this Agreement, indemnify the Company, each of its directors, each officer of the Company who signs the applicable Registration
Statement, each legal counsel and each underwriter of the Company’s securities covered by such a Registration Statement, each person who controls the Company or such underwriter within the meaning of the Securities Act against all claims,
losses, damages, and liabilities (or actions in respect thereof) arising out of or based upon (i) any untrue statement (or alleged untrue statement) of a material fact contained in any such Registration Statement, or related document, or
(ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to 

  
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make the statements therein not misleading, or (iii) any violation or alleged violation by such Holder of the Securities Act, the Exchange Act, any state securities law, or any rule or
regulation promulgated under the Securities Act, the Exchange Act or any state securities law applicable to such Holder and relating to action or inaction required of such Holder in connection with any such Registration and related qualification and
compliance, and will pay as incurred to such persons, any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability, or action, in each case only to the extent that such
untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in (and such violation pertains to) such Registration Statement or related document in reliance upon and in conformity with written information furnished to the
Company by such Holder and stated to be specifically for use therein; provided, however, that the indemnity contained in this Section 13.2 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability, or action if
settlement is effected without the consent of such Holder (which consent shall not unreasonably be withheld); provided, further, that such Holder’s liability under this Section 13.2 (when combined with any amounts Holder is liable for
under Section 13.4) shall not exceed such Holder’s net proceeds from the offering of securities made in connection with such Registration. 
 13.3 Indemnification Procedure. 
 Promptly after receipt by an indemnified
party under this Section 13 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 13, notify the indemnifying party in writing
of the commencement thereof and generally summarize such action. The indemnifying party shall have the right to participate in and to assume the defense of such claim; provided, however, that the indemnifying party shall be entitled to
select counsel for the defense of such claim with the approval of any parties entitled to indemnification, which approval shall not be unreasonably withheld; provided further, however, that if either party reasonably determines that there may be a
conflict between the position of the Company and the Holders in conducting the defense of such action, suit, or proceeding by reason of recognized claims for indemnity under this Section 13, then counsel for such party shall be entitled to
conduct the defense to the extent reasonably determined by such counsel to be necessary to protect the interest of such party. The failure to notify an indemnifying party promptly of the commencement of any such action, if prejudicial to the ability
of the indemnifying party to defend such action, shall relieve such indemnifying party, to the extent so prejudiced, of any liability to the indemnified party under this Section 13, but the omission so to notify the indemnifying party will not
relieve such party of any liability that such party may have to any indemnified party otherwise than under this Section 13. 
 13.4 Contribution. 
 If the indemnification provided for in this
Section 13 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, liability, claim, damage, or expense referred to therein, then the indemnifying party, in lieu of indemnifying such
indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such loss, liability, claim, damage, or expense in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in 

  
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such loss, liability, claim, damage, or expense as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the
parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission. In no event, however, shall (a) any amount due for contribution hereunder be in excess of the amount that would
otherwise be due under Section 13.1 or 13.2, as applicable, based on the limitations of such provisions and (b) a person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) be entitled to contribution from a
person who was not guilty of such fraudulent misrepresentation. 
 13.5 Conflicts. 

Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided, however, that the failure of the
underwriting agreement to provide for or address a matter provided for or addressed by the foregoing provisions shall not be a conflict between the underwriting agreement and the foregoing provisions. 

13.6 Survival. 
 The obligations of the Company and Holders under this Section 13 shall survive the completion of any offering of Registrable Securities in a registration statement under this Agreement or otherwise.

 14. Limitations on Registration Rights Granted to Other Securities. 

From and after the date of this Agreement, the Company shall not enter into any agreement with any holder or prospective holder of any
securities of the Company providing for the granting to such holder of any information or Registration rights, except that, with the consent of the Holders of 75% percent of the aggregate of the Registrable Securities then outstanding, additional
holders may be added as parties to this Agreement with regard to any or all securities of the Company held by them. Any such additional parties shall execute a counterpart of this Agreement, and upon execution by such additional parties and by the
Company, shall be considered an Investor for all purposes of this Agreement. The additional parties and the additional Registrable Securities shall be identified in an amendment to Schedule 1.1 hereto. Notwithstanding the foregoing, additional
persons purchasing shares of Series D-2 Preferred Stock pursuant to the Series D-2 Purchase Agreement may be added as parties hereto upon execution of a signature page to this Agreement and by the inclusion of such person’s name on Schedule 1.1
hereto. 
 15. Transfer of Rights. 
 The rights granted by the Company to the Investors under this Agreement may be assigned by any Investor (along with any obligations of such Investor) from time to time in

  
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whole or in part to a transferee or assignee of any Convertible Securities or Registrable Securities acquiring at least 10,000 shares of such Holder’s Registrable Securities (equitably
adjusted for any stock splits, subdivisions, stock dividends, changes, combinations or the like) (a “Permitted Transferee”); provided, however, that (i) the Company must receive written notice of said transfer no
later than fifteen (15) days prior to the transfer, and (ii) the transferee or assignee of such rights must not be a person deemed by the Board of Directors of the Company, in its best judgment, within ten (10) days after the Company
receives notice of such transfer, to be a competitor of the Company. Notwithstanding the limitations set forth in the foregoing sentence, no restrictions shall apply to a transfer by: (i) an Investor which is a limited or general partnership or
limited liability company to its constituent general or limited partners or members or a retired partner or member of such partnership or limited liability company who retires after the date hereof, or to the estate of any such partner or member or
retired partner or member or transfer by gift, will or intestate succession to any such partner’s or member’s spouse or lineal descendants or ancestors, or up to three dispositions per calendar year by any such partner or member to any
other trust established by such member or partner, or to any affiliated limited or general partnership or limited liability company or other investment fund under common control or investment management, (ii) an Investor to any spouse or to the
siblings, lineal descendants or ancestors of such Investor or his or her spouse or a trust for the benefit of any such persons, or (iii) an Investor to any affiliated venture capital fund of any investor; if in each such case the transferee
agrees in writing to be subject to the terms of this Agreement to the same extent if such transferee were an Investor; provided, however, that each Investor hereby covenants not to effect such transfer if such transfer either would
invalidate the securities laws exemptions pursuant to which the Registrable Securities were originally offered and sold or would itself require registration under the Securities Act or applicable state securities laws. 

16. Market Stand-off. 
 Each Holder hereby agrees that, if so requested by the Underwriter’s Representative (if any) in connection with the Company’s initial public offering, such Holder shall not sell, make any short
sale of, loan, grant any option for the purchase of, or otherwise transfer or dispose of any Registrable Securities or other securities of the Company without the prior written consent of the Company and the Underwriter’s Representative for
such period of time (not to exceed 180 days but subject to such extensions as may be required by the underwriters in order to publish research reports while complying with NASD Rule 2711 of the Financial Industry Regulatory Authority) following the
effective date of a Registration Statement of the Company filed under the Securities Act as may be requested by the Underwriter’s Representative. Each Holder also agrees that in connection with the Company’s initial public offering the
Holder will enter into a lock-up agreement in the form presented by the Underwriter’s Representative consistent with this Section 16. The obligations of Holders under this Section 16 shall be conditioned upon (a) all officers and
directors of the Company being bound by and entering into similar agreements and (b) the Company using all reasonable efforts to obtain similar agreements from all other holders of at least 1% of the Company’s outstanding shares. If any
officer, director or other stockholder of the Company is granted an early release with respect to all or a portion of the securities held by such holder from such holder’s lock-up agreement, then each Holder shall also be granted an early
release from its obligations hereunder on a pro-rata basis based on the aggregate percentage of shares held by the officers, directors or stockholders being released from such holder’s lock-up agreements. 

  
 -24-

 17. No-Action Letter or Opinion of Counsel in Lieu of Registration.

 Notwithstanding anything else in this Agreement, if a proposed disposition by Holders is of Registrable Securities having
aggregate proceeds of $750,000 or less and the Company shall have obtained from the Commission a “no-action” letter in which the Commission has indicated that it will take no action if, without Registration under the Securities Act, any
Holder disposes of Registrable Securities covered by any request for Registration made under this Section in the specific manner in which such Holder proposes to dispose of the Registrable Securities included in such request (such as including,
without limitation, inclusion of such Registrable Securities in an underwriting initiated by either the Company or the Holders), or if in the opinion of counsel for the Company concurred in by counsel for such Holder no Registration under the
Securities Act is required in connection with disposition and provided that such disposition is otherwise permitted by this Agreement, the Registrable Securities shall not be eligible for Registration under this Agreement and the Company will not be
required to send notice to the Holder pursuant to Section 7. The Registration Rights of the Holders of the Registrable Securities set forth in this Agreement are conditioned upon the conversion of the Convertible Securities with respect to
which Registration is sought into Common Stock prior to the effective date of the Registration Statement. 
 18.
Miscellaneous. 
 18.1 Governing Law. 

This Agreement shall be governed by, and construed in accordance with, the laws of the State of California excluding those laws that
direct the application of the laws of another jurisdiction. 
 18.2 Counterparts. 

This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 
 18.3 Headings. 

The headings of the Sections of this Agreement are for convenience and shall not by themselves determine the interpretation of this
Agreement. 
 18.4 Notices. 
 Any notice required or permitted hereunder shall be given in writing and shall be conclusively deemed effectively given upon personal delivery, or five days after deposit in the United States mail, by
registered or certified mail, postage prepaid, addressed (i) if to the Company, as set forth below the Company’s name on the signature page of this Agreement, and (ii) if to an Investor, at such Investor’s address as set forth on
Schedule 1.1 or such Investor’s counterparty signature page hereto, or at such other address as the Company or such Investor may designate by 10 days advance written notice to the Investors or the Company, respectively. 

  
 -25-

 18.5 Amendment of Agreement. 

Any provision of this Agreement may be amended only by a written instrument signed by the Company and by persons holding at least 70% of
the Registrable Securities as defined in Section 1 of this Agreement. In addition to the foregoing, (a) any amendment or waiver that reduces the rights or increases the obligations of any Investor without reducing the rights or increasing
the obligations of other Investors in a manner that is similar or proportional shall require the written consent of such uniquely affected Investor, and (b) any amendment or waiver of any of the rights and obligations of any Investor which is
an SBIC Investor in such Investor’s capacity as an SBIC Investor under this Agreement shall require the prior written consent of such Investor. Adding (A) additional purchasers of Convertible Securities as Investors pursuant to
Section 14, and (B) Permitted Transferees acquiring shares in accordance with Section 15, shall not be deemed an amendment to this Agreement. 
 18.6 Severability. 
 In the event one or more of the provisions of this
Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if
such invalid, illegal or unenforceable provision had never been contained herein. 
 18.7 Delays or Omissions 

It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any party, upon any breach, default or
noncompliance by another party under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default
or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or character on any party’s part of any breach, default or noncompliance under the Agreement or any waiver on such
party’s part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, by law, or otherwise afforded to any
party, shall be cumulative and not alternative. 
 18.8 Entire Agreement; Successors and Assigns. 

This Agreement constitutes the entire agreement between the Company and the Investors relative to the subject matter hereof Any previous
agreements between the Company and any Investor, including but not limited to the Prior Agreement, concerning the subject matter hereof are superseded by this Agreement. All rights granted under the Prior Agreement, including any rights to purchase
the Series D-2 Preferred Stock, have been satisfied, and to the extent not satisfied are hereby waived by this Agreement. Subject to the exceptions specifically set forth in this Agreement, the terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective executors, administrators, heirs, successor, and assigns of the parties. 

18.9 Merger with Trimeris, Inc. Notwithstanding the foregoing, the provisions of this Agreement (other than those in Sections 2, 3
and 4) shall remain in effect with respect to any shares of Trimeris, Inc. received in exchange for Registrable Securities in connection with the 

  
 -26-

 
transactions contemplated by the Agreement and Plan of Merger and Reorganization, dated as of June 13, 2011, by and among, Trimeris, Inc., Tesla Merger Sub, Inc. and the Company, treating
for this purpose the consummation of such transactions as a Qualified IPO.” 
 * * * 

  
 -27-

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

							
	COMPANY:	 	 	 	SYNAGEVA BIOPHARMA CORP.
				
		 		 	By:	 	 /s/ Sanj K. Patel

		 		 		 	Sanj K. Patel
		 		 		 	President and Chief Executive Officer

  

							
		 		 	Address:	 	60 Hickory Drive
		 		 		 	Waltham, MA 02451
				
	INVESTORS:	 		 		 	

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -28-

 
			
	BAKER BROS. INVESTMENTS, L.P.
	By:	 	Baker Bros. Capital, L.P.,
		 	its general partner
	By:	 	Baker Bros. Capital (GP), LLC,
		 	its general partner
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	Managing Member
	
	BAKER BROS. INVESTMENTS II, L.P.
	By:	 	Baker Bros. Capital, L.P.,
		 	its general partner
	By:	 	Baker Bros. Capital (GP), LLC,
		 	its general partner
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	Managing Member
	
	FBB ASSOCIATES
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	General Partner

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -29-

 
			
	BAKER BROTHERS LIFE SCIENCES, L.P.
	By:	 	Baker Brothers Life Sciences Capital, L.P.,
		 	its general partner
	By:	 	Baker Brothers Life Sciences Capital (GP),
		 	LLC, its general partner
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	Managing Member
	
	14159, L.P.
	By:	 	14159 Capital, L.P.,
		 	its general partner
	By:	 	14159 Capital (GP), LLC,
		 	LLC, its general partner
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	Managing Member
	
	667, L.P.
	By:	 	Baker Biotech Capital, L.P.,
		 	its general partner
	By:	 	Baker Biotech Capital (GP), LLC,
		 	its general partner
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	Managing Member
	
	BAKER TISCH INVESTMENTS, L.P.
	By:	 	Baker/Tisch Capital, L.P.,
		 	its general partner
	By:	 	Baker/Tisch Capital (GP), LLC,
		 	its general partner
		
	By:	 	 /s/ Felix Baker, Ph.D.

		 	Felix Baker, Ph.D.
		 	Managing Member

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -30-

 
			
	TD JAVELIN CAPITAL FUND II, LP.
		
	By:	 	TD II Regional Partners, Inc.,
		 	its general partner
		
	By:	 	 /s/ James L.L. Tullis

		 	James L.L. Tullis
		 	President and Chief Executive Officer

 
			
		
	Address:	 	One Stamford Plaza, 12th Floor
		 	263 Tressler Boulevard
		 	Stamford, CT 06901

 
			
	
	TD LIGHTHOUSE CAPITAL FUND II, LP.
		
	By:	 	TD II Regional Partners, Inc.,
		 	its general partner
		
	By:	 	 /s/ James L.L. Tullis

		 	James L.L. Tullis
		 	President and Chief Executive Officer

 
			
		
	Address:	 	One Stamford Plaza, 12th Floor
		 	263 Tressler Boulevard
		 	Stamford, CT 06901

 
			
	
	TULLIS-DICKERSON CAPITAL FOCUS II, LP.
		
	By:	 	Tullis-Dickerson Partners II, LLC,
		 	its general partner
		
	By:	 	 /s/ James L.L. Tullis

		 	James L.L. Tullis
		 	Manager

 
			
		
	Address:	 	One Stamford Plaza, 12th Floor
		 	263 Tressler Boulevard
		 	Stamford, CT 06901

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -31-

 
					
	FOUR PARTNERS
		
	By:	 	 /s/ Thomas J. Tisch

		 	Thomas J. Tisch,
		 	Manager

 

					
	Address:	 	655 Madison Avenue
		 	19th Floor
		 	New York, MY 10065-8068

 

					
	TEN PARTNERS
		
	By:	 	 /s/ Thomas J. Tisch

		 	Thomas J. Tisch,
		 	Manager

 

					
	Address:	 	655 Madison Avenue
		 	19th Floor
		 	New York, MY 10065-8068

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -32-

 
					
	NEW LEAF VENTURES II, L.P.
		
	By:	 	New Leaf Venture Associates U, L.P.
		 	Its: General Partner
		
	By:	 	New Leaf Venture Management II, L.L.C.
		 	Its: General Partner
		
	By:	 	 /s/ Srinivas Akkaraju

		 	Srinivas Akkaraju
		 	Managing Director
			
		 	Address:	 	2500 Sand Hill Road, Suite 203
		 		 	Menlo Park, CA 94025

 SIGNATURE PAGE TO AMENDED AND RESTATED 
 INFORMATION AND REGISTRATION RIGHTS AGREEMENT 

  
 -33-

 
					
	HUNT-BIOVENTURES, L.P.
		
	By:	 	 /s/ J. Fulton Murray, III

		 	J. Fulton Murray, III
		 	Managing Director

 

			
	Address:	 	1900 N. Akard Street
		 	Dallas, Texas 75201

 SIGNATURE PAGE TO AMENDED AND RESTATED 

INFORMATION AND REGISTRATION RIGHTS AGREEMENT 

  
 -34-

 
			
	MAUI INVESTMENT COMPANY LIMITED
		
	By:	 	Heng-Yek Kuo
		 	President
		
	By:	 	 /s/ Heng Yek Ko

			
		
	Address:	 	Tower 2 Centerstage
		 	Flat 15A
		 	108 Hollywood Road
		 	Central, Hong Kong
		 	Hong Kong

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -35-

 
			
	TARAVAL ASSOCIATES SEED CAPITAL FUND, L.P.
		
	By:	 	 /s/ G.F. Murphy, Jr.

		 	G.F. Murphy, Jr.
		 	General Partner

 
			
		
	Address:	 	845 Oak Grove Avenue, Suite 220
		 	Menlo Park, CA 94025
	
	TARAVAL ASSOCIATES ANNEX FUND, L.P.

 
			
		
	By:	 	 /s/ G.F. Murphy, Jr.

		 	G.F. Murphy, Jr.
		 	General Partner

 
			
		
	Address:	 	845 Oak Grove Avenue, Suite 220
		 	Menlo Park, CA 94025

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -36-

 
			
	 /s/ Kent D. Mitchell

	KENT D. MITCHELL
		
	Address:	 	5505 Mount Vernon Parkway, NW
		 	Atlanta, GA 30327-4738
	
	 /s/ K. Deane Reade, Jr.

	K. DEANE READE, JR.
		
	Address:	 	Banger Fawes Reade Davis & Thom
		 	399 E. 72nd Street
		 	New York, NY 10021

 SIGNATURE PAGE TO AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

  
 -37-

 
			
	 /s/ Sanj K. Patel

	SANJ K. PATEL
		
	Address:	 	c/o Synageva BioPharma Corp.
		 	60 Hickory Dr.
		 	Waltham, MA 02451

 SIGNATURE PAGE TO AMENDED AND RESTATED 

INFORMATION AND REGISTRATION RIGHTS AGREEMENT 

  
 -38-Sanction Agreement

 Exhibit 10.1 

 

			
	

	 	PROMOTER ORIGINAL

 SANCTION AGREEMENT 
 NASCAR Sprint Cup Series 
  

			
	EVENT NAME:	  	Fed Ex “400” benefiting Autism Speaks
		
	DATE OF EVENT:	  	June 3, 2012
		
	PROMOTER:	  	Dover International Speedway, Inc.
		
	TRACK:	  	Dover International Speedway

 P.O. BOX 2875 • DAYTONA BEACH, FLORIDA 32120-2875 • (386) 253-0611 

www.nascar.com 

 SANCTION AGREEMENT 

This Sanction Agreement (“Agreement”) between National Association for Stock Car Auto Racing, Inc. (“NASCAR”), a
corporation with its principal offices located in Daytona Beach, Florida, and PROMOTER (identified on Exhibit 1 to this Agreement), is entered into and is effective as of the Effective Date (specified on Exhibit 1 to this Agreement). 

RECITALS 
 WHEREAS, NASCAR sanctions and conducts, among other things, stock car racing events and series of events throughout the United States and the world; and 

WHEREAS, PROMOTER owns and/or controls the Facility (as hereinafter defined); and 

WHEREAS, PROMOTER wishes to have NASCAR sanction and conduct a stock car racing event, as part of the 2012 NASCAR Sprint Cup Series, at
the Facility; and 
 WHEREAS, NASCAR is willing to sanction and conduct such event for the year 2012 in accordance with the
terms of this Agreement; 
 NOW, THEREFORE, NASCAR and PROMOTER, in consideration of the mutual promises set forth below, and
intending to be legally bound, agree as follows: 
 AGREEMENT 

1. Definitions. In addition to the definitions of words that may appear in other locations in this Agreement, including the
Recitals above, the following words have the following meanings when used in this Agreement: 
  

	 	a)	“Additional Awards” means any monetary or non-monetary award by, or contracted through, PROMOTER, for distribution based upon the Event, other than
(i) purse, (ii) point fund, (iii) Winner’s Circle and Plan awards, and (iv) the entry award for the NASCAR Sprint Cup Series Champion. 

 

	 	b)	“Ancillary Rights” means (i) any and all rights to film, tape, photograph, capture, overhear, collect or record, and to simultaneously or thereafter
reproduce, broadcast, transmit or distribute, by any means, process, medium or device, whether or not currently in existence, all images, sounds and electronic data generated during and in connection with the Events, and (ii) any and all
copyrights and all other intellectual property and proprietary rights worldwide in and to such images, sounds and electronic data, any recording, broadcast or transmission thereof, and any work derived therefrom, provided, however,
that “Ancillary Rights” does not include “Live Broadcast Rights” or rights in or to NASCAR Intellectual Property or Third Party Marks, but shall include rights in or to a live transmission pursuant to a specialty subscription
cable package or product of one or more Events (such as pay-per-view or the like). 

  

	 	c)	 “Competition” means that portion of the Event during which the actual racing competition and all competitive activity related thereto occurs,
including, but not limited to, registration, inspections, 

	 	 
time trials, practice runs, pre-race meetings, post-race inspections, either on the date(s) specified in Exhibit 1 hereto or on any postponed dates. 

 

	 	d)	“Competitor” has the same meaning as that term has in the Rule Book. 

 

	 	e)	“Event” means the Competition listed on Exhibit 1 to this Agreement and all other activity at the Facility during the period of time commencing 48 hours prior
to the beginning of registration for the Competition and ending 24 hours after such Competition. 

  

	 	f)	“Event Broadcast Income” means an amount calculated by multiplying the percentage listed in Exhibit 1 of this Agreement by all Live Broadcast Income received
by NASCAR or the NASCAR Rights Affiliate(s) pursuant to Live Broadcast Contract(s) during the calendar year in which the Event is held. 

  

	 	g)	“Event Net Ancillary Rights Income” means an amount calculated by multiplying the percentage set forth in Exhibit 1 of this Agreement by all Net Ancillary
Rights Income received during the calendar year in which the Event is held. 

  

	 	h)	“Facility” means the racetrack listed on Exhibit 1 to this Agreement, the premises upon which the racetrack is located and surrounding the racetrack, all
buildings and other structures thereon, and all airspace above the racetrack and surrounding premises, to the extent owned or controlled by PROMOTER. 

  

	 	i)	“Live Broadcast” means the live transmission of the performance of a NASCAR Sprint Cup Series event, and any replay(s) thereof, by broadcast television signal
or cable television signal within the United States, its territories, possessions and commonwealths, plus Bermuda. 

  

	 	j)	“Live Broadcast Rights” means any and all rights to engage in a Live Broadcast and directly related broadcast activity (for example, tape-delayed broadcasts,
single re-broadcasts and support programming). 

  

	 	k)	“Live Broadcast Contract” means any contract, agreement or other enforceable obligation, whether oral or written, entered into between NASCAR or a NASCAR
Rights Affiliate and any other entity or entities, for the license, assignment or other transfer of any Live Broadcast Rights. 

  

	 	1)	“Live Broadcast Income” means all monies actually received by NASCAR or a NASCAR Rights Affiliate pursuant to a Live Broadcast Contract and attributed by
NASCAR to the Live Broadcast of NASCAR Sprint Cup Series events during the calendar year in which the Event is held. 

  

	 	m)	“NASCAR Intellectual Property” means all trademarks, service marks, trade names, patents, copyrights, domain names, trade dress and the like owned by NASCAR,
excluding Live Broadcast Rights and Ancillary Rights and any work derived therefrom. 

  

	 	n)	“NASCAR Rights Affiliate” means any corporation, partnership or other legal entity that is (1) an affiliate or an assignee of NASCAR or controlled,
directly or indirectly by NASCAR, and (2) engaged solely in the business of exploiting Live Broadcast Rights or Ancillary Rights for purposes of generating Live Broadcast Income and Net Ancillary Rights Income and performing all necessary
activities incident thereto. 

  
 2 

	 	o)	“Net Ancillary Rights Income” means the aggregate gross revenue received by NASCAR and all NASCAR Rights Affiliates, during the calendar year in which the
Event is held, as a result of the exploitation of Ancillary Rights and Live Broadcast Rights, reduced by (i) Live Broadcast Income received during the relevant calendar year, and (ii) the aggregate of all reasonable deductions of NASCAR or
the NASCAR Rights Affiliates, including but not limited to ordinary business expenses, amortization, depreciation and federal and state income and property taxes; provided, however, that in no event shall Net Ancillary Rights Income
include income, revenue or any other consideration received or generated by NASCAR for the license of, assignment of, or other transfer of rights in or to, any NASCAR Intellectual Property, including without limitation transfers in connection with
the sale, advertising or promotion by NASCAR or any third party of products or services of any nature. 

  

	 	p)	“Official” means “NASCAR Officials” and “NASCAR Supervisory Officials” as those terms are defined in the Rule Book.

  

	 	q)	“Rule Book” means the Rule Book published by NASCAR for NASCAR Sprint Cup Series events that is in effect at the time of the Event, and any amendments thereto
and other special rules published by NASCAR specifically for the Event. 

 NASCAR’S GENERAL OBLIGATIONS

 2. Sanction For Event. NASCAR hereby grants its sanction to PROMOTER for the Competition. So long as
such sanction is in effect and not terminated, PROMOTER shall organize, promote and hold the Event, including the Competition, in accordance with this Agreement. 
 3. Conduct and Control Over Competition. NASCAR shall conduct the Competition, through its officers and designated Officials, in accordance with the Rule Book, this Agreement, the Official
Entry Blank, and any amendments to the Rule Book and/or Official Entry Blank. NASCAR shall have sole control over the conduct of the Competition in all of its phases, including, but not limited to, control of the racing surface, pits and pit lane,
garage area and scoring stand during all Competition-related activities, throughout the Event. Interpretation and application of the Rule Book are committed to NASCAR’s sole discretion, and are final and unreviewable except to the extent
provided in the Rule Book. PROMOTER shall cooperate fully with NASCAR to permit it to conduct the Competition in accordance with this Agreement and the Rule Book. 
 4. Postponement. NASCAR will attempt to consult with PROMOTER regarding postponement of a Competition, but the decision to postpone a Competition and the selection of the postponed date will
be made by NASCAR and will be binding on PROMOTER. PROMOTER shall not publish or otherwise announce a postponement of the Competition and/or a postponed date for the Competition without the prior written approval of NASCAR. If PROMOTER makes such a
publication or announcement without NASCAR’s prior written approval, it shall not be binding upon NASCAR and PROMOTER shall hold NASCAR harmless for any and all expense, loss or damage caused by such publication or announcement. 

PROMOTER’S GENERAL OBLIGATIONS 
 5. Control and Maintenance of the Facility. PROMOTER represents and warrants that, in connection with the Event, it currently has and will maintain sole control of the Facility, and that it
has and will maintain full authority to permit the Event to be conducted at the Facility. PROMOTER shall maintain the Facility in good repair at all times relevant to the Event, ready for use by Competitors, Officials, NASCAR, sponsors, and persons
or entities involved in the Live Broadcast of or creation or exploitation of Ancillary Rights at the Event. PROMOTER is solely responsible and liable for the safety of such persons while on, entering or leaving the Facility. PROMOTER warrants that
the Facility is 

  
 3 

 
and will remain in a condition suitable for the Event, that the racing surface of the track will not be substantially altered or changed (whether by painting, sealing, resurfacing or otherwise)
without the prior written consent of NASCAR and that the PROMOTER will advise NASCAR in writing in advance of any and all planned improvements or alterations to those portions of the facility that are related to the competition. 

6. Repairs and Upgrades to the Facility. Upon request, PROMOTER shall provide NASCAR or its designated representative(s)
full access to the Facility. If NASCAR determines that the Facility or any part of it is in a condition unsatisfactory for the Event, including without limitation the surface of the racetrack, barriers, fencing, retaining systems, SAFER barrier
systems, the garage area, the pit area, race control, timing and scoring areas, registration areas, and areas, structures or equipment used for the Live Broadcast of or the creation or exploitation of Ancillary Rights at the Event, PROMOTER shall
repair, replace or upgrade the unsatisfactory portion to the satisfaction of NASCAR. If NASCAR determines that it is necessary to resurface the racetrack, such resurfacing shall be completed by PROMOTER sufficiently in advance of the Event to allow
for tire and private car testing. If NASCAR determines that there is insufficient time to place the racetrack, or any other portion of the Facility, in a condition suitable for the Event, NASCAR may postpone or cancel the Event. Notwithstanding the
foregoing or any other term of this Agreement, PROMOTER is solely responsible for the safety of the Facility and is solely liable for injury or damage caused by or arising out of the condition of the Facility. 

7. Compliance with Laws. PROMOTER shall comply with all local, state and federal laws and regulations applicable to the
organization, promotion and occurrence of the Event and shall obtain all necessary licenses, permits or other governmental approvals required for the Event. PROMOTER shall make all appropriate filings of forms or other documents required by federal,
state or local laws in connection with the Event. PROMOTER shall be solely responsible for compliance with any and all federal, state or other tax information reporting and withholding obligations (including, but not limited to, Federal Form 1099)
with respect to the purse or other amounts payable with respect to the Event. 
 8. Control of and Responsibility for the
Public. PROMOTER is solely responsible and liable for the safety of the public during the Event. PROMOTER shall furnish adequate facilities, personnel (including security personnel), equipment and services for accommodating and controlling
the public and adhering to NASCAR’s required security standards during the Event provided that PROMOTER is given a copy of such required security standards prior to the Event. PROMOTER is solely responsible for the condition, actions and
operations of such facilities, personnel, equipment and services before, during and after the Event. 
 9. Personnel and
Equipment for the Conduct of the Event and Live Broadcast and Ancillary Rights Activities. PROMOTER shall provide access to the Facility for any person or entity involved in the conduct of the Event, including without limitation NASCAR
employees, agents and Officials, and shall furnish adequate facilities, support personnel, equipment, and related security, for use by NASCAR in the exercise of NASCAR’s rights and obligations, as they may be requested by NASCAR from time to
time, including but not limited to facilities for office administration, registration, timing, scoring, car inspection, race direction, officiating and prize money distribution. PROMOTER shall also provide access to the Facility for any person or
entity involved in the Live Broadcast of or the creation or exploitation of Ancillary Rights at the Event, and adequate facilities, support personnel, equipment, and related security, for use by such persons or entities in the performance of their
duties, as they may be requested by NASCAR from time to time. Without in any way limiting the foregoing, PROMOTER shall, with respect to the Event: 
  

	 	a)	provide one (1) or more television monitors, in locations to be specified by NASCAR, with all related equipment necessary for such monitors to be connected to
video and audio equipment used by the entity principally involved in the Live Broadcast of the Event, in order to provide to NASCAR Officials live video on such monitors and the ability to switch instantaneously its view on the monitors among the
different camera locations used by such entity, at all times during the Event when all or a portion of the Event is being videotaped, broadcast, monitored and/or recorded; 

  
 4 

	 	b)	provide NASCAR with two (2) pace vehicles with automatic transmissions, each with the NASCAR mark or logo (as designated by NASCAR) displayed on the side in a
manner and size which is visible to all persons on the racetrack, in the viewing area and in all locations where NASCAR Officials are visually monitoring the Event; 

 

	 	c)	provide NASCAR prior to the Event with a list of the track radio frequencies to be used for the Event, including but not limited to frequencies to be used for
maintenance, police and security personnel; 

  

	 	d)	cooperate with NASCAR in pre-race and Victory Lane ceremonies, award presentations and photographs, including without limitation ensuring that NASCAR has reasonable
time immediately following the Competition for Victory Lane ceremonies, NASCAR award presentations and NASCAR sponsor recognitions ensuring that the content and placement of the Victory Lane backdrop is pre-approved by NASCAR;

  

	 	e)	have readily available quantities of oil dry acceptable to NASCAR when the track opens for practice and at all other times during the Event, and adequate personnel and
equipment to spread the oil dry at NASCAR’s direction; 

  

	 	f)	provide personnel to secure the entry into the pits and garage areas during competition periods at NASCAR’s direction; 

 

	 	g)	provide personnel to secure the garage area on a continuous, 24-hour/day basis beginning the first day the Facility is open for inspection and ending when released by
the NASCAR Sprint Cup Series Director; 

  

	 	h)	deliver to the garage area before the morning of raceday a minimum of 150 chairs for use by Competitors at the pre-race meeting; provide an enclosed, climate-controlled
area of adequate size, as determined by NASCAR, in the garage area in which NASCAR can conduct pre-race meetings, safety meetings and other assemblies during the Event and ensure that no pre-race activities are scheduled that would cause a
disruption or distraction during the scheduled pre-race meeting; 

  

	 	i)	line and number each pit with appropriate paint, line and paint traffic lanes in the garage and garage area and fire lanes behind the active pit lane when and where
needed, and repaint all start/finish, scoring, third turn and re-entry cutoff lines; 

  

	 	j)	coordinate with NASCAR all tours of the garage areas, including the times, number of participants and other arrangements; 

 

	 	k)	provide a suitable location (as determined by NASCAR) for a minimum of four (4) large trailers containing NASCAR equipment and facilities, adequate electricity
(including without limitation 220 volts 100 amps services with female range outlets for the NASCAR trailers), air conditioning, heat, telephone (including a track phone extension) and water facilities as requested by NASCAR;

  

	 	l)	coordinate with NASCAR to ensure that NASCAR has a minimum often (10) minutes immediately before, during or after driver introductions for NASCAR awards
presentations; 

  
 5 

	 	m)	provide a control tower of adequate size, as determined by NASCAR, with an unobstructed view of the racing surface for the purpose of monitoring the Event by NASCAR
personnel and others, with electricity, air conditioning, heat, telephone (including a track phone extension), a sufficient number of chairs (minimum of 14) with cushions for all operational personnel, television monitors for both feeds (as set
forth in Section 9.a), water facilities and other utilities, supplies and equipment as requested by NASCAR; 

  

	 	n)	provide a registration facility of adequate size in the garage area, with electricity, air conditioning, heat, telephone (including a track phone extension), chairs
with cushions, water facilities and other utilities, supplies and equipment as requested by NASCAR; 

  

	 	o)	provide adequate trash receptacles in the garage and pit areas and coordinate with the NASCAR Sprint Cup Series Director the times for trash pick up by track personnel;

  

	 	p)	provide adequate personnel to sweep and clean up the garage and pit areas on a daily basis; 

 

	 	q)	provide adequate parking areas and parking passes/permits for a minimum of three hundred twenty-five (325) vehicles, for the exclusive use of Competitors and
NASCAR Officials adjacent to or near the garage area, and an additional fifty (50) parking places and passes/permits in close proximity to the NASCAR track suite to be used at NASCAR’s discretion; 

 

	 	r)	provide NASCAR with an observation booth no less than six hundred (600) square feet, air conditioned, heated, with electricity, television monitors, etc., with an
unobstructed view of the racing surface and adequate seating for the purpose of monitoring the Event by NASCAR personnel and others, including all necessary admission tickets and/or access stickers for personnel to gain admission to the observation
booth, during the Event; 

  

	 	s)	provide NASCAR with two hundred twenty-five (225) reserved choice grandstand admission tickets, for the Event and two hundred (200) choice grandstand tickets
for NASCAR Sprint Cup Series Coors Light Pole Qualifying, such tickets to be delivered to NASCAR no later than thirty (30) calendar days prior to the Event 

 

	 	t)	enter, and use its best efforts to cause any manufacturer of Event merchandise to enter, into a cross licensing agreement with NASCAR to use the NASCAR Marks (as
defined in Section 19.a) below) in conjunction with all Event merchandise; 

  

	 	u)	prominently display (by painting or otherwise) the Official Logos (as defined in subsection 19.a)i)) in and around the Facility, and in all promotion of the Event, to
NASCAR’s satisfaction, including but not limited to: 

  

	 	i)	at all Facility entrances in some fashion such as flags and/or banners; 

  

	 	ii)	in an area inside the track, such as the infield grass, such that it is highly visible to grandstand seating and from the air; 

 

	 	iii)	in the backdrop to Victory Lane and pre-race ceremonies; 

  

	 	iv)	on any and all print and television advertising promoting the Event; 

  

	 	v)	on the front cover of the Event Program; 

  
 6 

	 	vi)	on any and all Event tickets, suite passes, and credentials; 

  

	 	vii)	in the Track Media Center and on all PROMOTER - owned media backdrops; 

 provided, however, that the Official Logos shall not, without NASCAR’s prior written approval, be placed in close proximity to a third party’s marks so as to create a commercial
impression that the third party is associated with NASCAR or the NASCAR Sprint Cup Series; 
  

	 	v)	cooperate fully with nascar.com staff, including but not limited to prominently displaying (by painting or otherwise) the nascar.com address in an area of the track,
such as the infield grass, that is highly visible to grandstand seating and from the air. 

  

	 	w)	cooperate fully with the NASCAR public relations staff; 

  

	 	x)	cooperate fully with any entity involved in the exploitation of Live Broadcast Rights or Ancillary Rights (“Entity”), including but not limited to:

  

	 	i)	providing reasonable access to the Facility for the purpose of facilitating the Entity’s broadcast, transmission, or recording of the Event (including free parking
for any and all Entity employees and equipment), including but not limited to providing reasonable space and locations as determined by the Entity for its announcers, and for the installation and operation of all microphones, television cameras, and
related equipment to be used by such Entity in connection with its production and transmission (including satellite uplink); 

  
 7 

	 	ii)	supplying and assuring the availability of such electrical power as is necessary to operate such equipment and all necessary lighting for a first quality television
production in color; 

  

	 	iii)	permitting the Entity to install, maintain, and remove from the Facility such wires, cables, and equipment as may be necessary for the Event; 

 

	 	iv)	permitting installation of announcers’ booths, camera platforms, and similar structures for the facilitation of broadcast productions of motorsports events;

  

	 	v)	providing adequate and necessary space for any mobile units, trailers and other necessary support units required by the Entity for the transportation and maintenance of
equipment and personnel by the Entity, including, but not limited to, a fenced and secured television compound in reasonably close proximity to the racing surface and the announce booths of no less than sixty-two thousand five hundred
(62,500) square feet in total area and, if possible, laid out in one contiguous square with dimensions of two hundred fifty (250) feet by two hundred fifty (250) feet, for locating broadcast mobile units, support units, office units,
satellite uplinks, catering, golf cart parking, generators, timing and scoring apparatus trailer, and other related equipment and supplies; and a separate, suitable, secured area in the infield (as applicable) for mobile studio facilities and other
broadcast-related units and equipment; 

  

	 	vi)	providing a booth across from the Start/Finish line up to current network broadcast standards, and use best efforts to provide a second booth meeting the same criteria
listed herein and adjoining to the first booth if possible, with a clear view of the entire track, with sufficient space to accommodate a minimum of five (5) people (the booth shall be at least twenty (20) feet wide and ten (10) feet
deep with a counter twenty (20) inches deep), air-conditioned to sixty-eight (68) degrees Fahrenheit, adjustable sun screens or removable tinting on all exterior windows, black interior walls, as sound proof as practical, wired for one
hundred-twenty (120) volts AC with outlets on the front and side walls, with five (5) chairs with back support, tables, monitor tables, and with door(s) that can be locked and secured; 

 

	 	vii)	cooperating with NASCAR and any Entity to ensure exclusive, and if necessary secure or encrypted, radio frequencies; 

 

	 	viii)	providing meaningful advanced consultation with NASCAR and the Entity regarding any talent including, but not limited to, pre- and/or post-race concert performer(s),
national anthem performer(s), invocation deliverer(s), grand marshal(s), engine start command deliverer(s), honorary starter(s), celebrities, sports figures, political representatives and/or guests who might take part in pre-race ceremonies, or
others with whom PROMOTER arranges for or contracts with to participate in the Event; and 

  

	 	y)	with respect to any Entity transmitting the Live Broadcast, in addition to the requirements of Section 9.x) PROMOTER shall: 

 

	 	i)	provide a maximum of three hundred (300) choice complimentary tickets for the Competition and all other activities during the Event, provided that NASCAR
shall require the Entity to notify PROMOTER of the number of such tickets it requires not later than ninety (90) days prior to the date of the Event; 

  
 8 

	 	ii)	provide use of one (1) standard luxury track suite, and use best efforts to provide a second standard luxury track suite, for the Competition and all other
activities during the Event including all necessary suite passes and suite parking; 

  

	 	iii)	prominently display Entity’s (or joint Entity/NASCAR) logo painted in an area inside the track, such as the infield grass, such that it is highly visible to
grandstand seating, television cameras and from the air and also display four (4) standard size signs, to the Entity’s specifications within the Facility, subject to the reasonable approval of PROMOTER and NASCAR; 

 

	 	iv)	provide such Entity with one (1) full page four (4) color advertisement in each Event Program; 

 

	 	v)	cooperate fully with any and all requests made by NASCAR with respect to local TV coverage, including but not limited to allowing such Entity to have absolute priority
with respect to camera and announcing positions, ensuring that local TV crews do not in any way interfere with such Entity’s production, ensuring that such local TV coverage will be limited to no more than two (2) minutes of action of
competition, which will not be broadcast until completion of such Entity’s first telecast of the Competition and not later than ninety-six (96) hours following the completion of the Competition, and ensuring local TV crews do not provide
footage to any regional or national network or news feed; 

  

	 	vi)	permit such Entity, if requested in a timely manner, to purchase Event hospitality chalets; 

 

	 	vii)	use its reasonable efforts to cause the title sponsor of the Event to buy advertising in the telecasts of the Event; NASCAR shall in turn include in the Live Broadcast
Contract(s) provisions that (a) prohibit the Entity from identifying the Event by any name other than the official event title, as designated by the PROMOTER, or identifying the Facility by any name other than its official name, as designated
by the PROMOTER, (b) require the Entity to identify the Event by its official event title, as designated by the PROMOTER, excluding any presenting sponsors, at least once during the opening segment of the telecast and thereafter at least once
during each hour of the telecast, and (c) prohibit the Entity from superimposing, inserting or otherwise incorporating on-screen any electronic or “virtual” signage, promotion or other commercial designation that alters for the
television viewer the actual appearance of the Facility or any portion thereof without the prior written approval of PROMOTER and NASCAR; 

  

	 	viii)	at least ninety (90) days prior to the Event, send such Entity and NASCAR and any international telecaster scheduled to be broadcasting from the Facility a list
naming all musical compositions scheduled to be played during the Competition or at any other time when such Entity or international telecaster is scheduled to be broadcasting from the Facility in connection with the Event, which shall include the
title of each composition and the name of the composer, publisher, copyright holder, and performing rights holder; and if such Entity is unable to transmit such composition with respect to the Live Broadcast of the Event without additional expense
and authorizations, PROMOTER agrees (a) to obtain, at PROMOTER’S expense, authorization to transmit such composition or (b) not to play such composition at a time when the Entity is scheduled to be broadcasting from the Facility in
connection with the Event; 

  

	 	ix)	insure that the Start/Finish line is newly painted prior to the start of the Competition. 

10. Fire and Medical Equipment and Personnel. PROMOTER shall provide adequate facilities, personnel, equipment and
services, including without limitation cleanup crews, towing and flatbed wreckers, jet dryers, ambulances, emergency vehicles, medical evacuation helicopter, fire trucks for fire protection and on-site medical services for Competitors, Officials,
the public and others in connection with the Event, all of which shall be on-site and in a state to be fully operational prior to the commencement of the Competition. PROMOTER shall adhere to NASCAR’s required

  
 9 

 
medical standards, provided that PROMOTER is given a copy of such medical standards prior to the Event, and make advance arrangements with local hospitals and physicians for the prompt, efficient
and appropriate treatment of any and all injuries occurring during the Event. 
 11. Security For Pit and Garage
Area. PROMOTER shall furnish adequate security personnel and equipment (in addition to the requirements of Sections 8 and 9) in the pit and garage area. PROMOTER shall limit access to such areas before, during and after the Event solely to
authorized individuals (who must have NASCAR-approved credentials) and equipment. The PROMOTER will ensure that all persons who enter restricted areas such as the garage and pits as guests of the PROMOTER or otherwise, sign the standard Release and
Waiver of Liability and Indemnity Agreement and, upon request by NASCAR, provide copies of the signed Releases to NASCAR. PROMOTER is solely responsible and liable for the actions of security personnel, provided, however, that PROMOTER
shall ensure that all such security personnel will abide by such directions or comply with such requests as NASCAR may issue or make from time to time. PROMOTER will permit any current, valid NASCAR-licensed members, NASCAR guests, and/or any other
persons designated by NASCAR access to the Facility or portions of the Facility in accordance with the type of credential issued to them by NASCAR. Pursuant to any exploitation of Live Broadcast Rights or Ancillary Rights, NASCAR shall administer
and coordinate Event access for all non-news media, but may assign such responsibility to a NASCAR Rights Affiliate(s). 

12. Business Responsibilities Relating to Promotion. PROMOTER shall perform all obligations imposed on it by this
Agreement, including all obligations to provide cooperation, tickets, passes, services and support equipment set forth in Section 9 of this Agreement, at its own expense, without contribution by NASCAR. PROMOTER assumes and will perform all
business responsibilities in connection with the promotion of the Event (except as otherwise provided by this Agreement), including without limitation business organization, promotional activities, management, general business affairs, ticket sales,
Facility operation and press accommodations. 
 13. Other Track Activities. PROMOTER shall not schedule or permit
any private race car practice or test runs at the Facility for the seven (7) calendar days immediately preceding the first day of official practice for the Event without prior written approval by NASCAR. At all times during the calendar year of
the Event, PROMOTER agrees to adhere to all terms and conditions of the NASCAR Sprint Cup Series Private Race Car Testing Policy, as it may be amended from time to time, provided that PROMOTER is given a copy of such Policy prior to the start of the
season. PROMOTER shall not allow any private race car testing at the Facility that violates the Policy in effect at the time. PROMOTER shall not schedule or permit any other entertainment activities at the Facility during the Event without prior
written approval by NASCAR. PROMOTER shall notify NASCAR at least thirty (30) calendar days prior to the Event of its intention to conduct or permit any such activities. NASCAR may at its discretion grant its approval with or without condition,
but it shall not unreasonably withhold or condition its approval. Except with respect to scheduling as set forth herein, NASCAR shall have no responsibility or liability with respect to such activities, and PROMOTER shall be solely responsible and
liable for such activities. The entertainment activities covered by this Section 13 include without limitation other motorsports events, thrill shows, live performances and/or helicopter rides. 

OFFICIAL ENTRY BLANK AND AWARDS 
 14. Preparation And Publication of Official Entry Blank. NASCAR shall compose, print, publish and distribute the Official Entry Blank (“OEB”) for the Event. The OEB shall be the
sole official statement as to the date, place, schedule and length of the Event, the eligibility requirements for Competitors, and monetary and non-monetary awards. PROMOTER shall not publish an official or unofficial entry blank or supplement, or
any other form setting forth monetary or non-monetary awards, without prior written approval from NASCAR. PROMOTER shall not advertise or otherwise disseminate any information as to monetary or non-monetary awards for the Event other than those
specified in the OEB or NASCAR-approved supplement. If PROMOTER engages in such publication, advertising or dissemination, PROMOTER shall hold NASCAR harmless for any and all loss, expense or damage arising out of such activity, and

  
 10 

 
NASCAR at its option may also terminate the sanction granted by this Agreement and/or pursue any other remedies against PROMOTER. 

15. Additional Awards. 
  

	 	a)	If PROMOTER contracts for Additional Awards, then, subject to the provisions of Section 14, NASCAR may publish and distribute a supplement to the OEB posting the
Additional Award(s). 

  

	 	b)	PROMOTER shall submit to NASCAR, no later than sixty (60) calendar days prior to the date of the Event, a list of any and all proposed Additional Awards for the
Event. PROMOTER shall obtain NASCAR’s written consent prior to contracting for any Additional Award. NASCAR may reject a proposed Additional Award in its entirety, require different terms for the proposed Additional Award, or require a
reallocation of the distribution of such an award among Competitors, if in NASCAR’s sole judgment the proposed award will not advance the nature of the competition, will have an adverse impact on the Event, or will be detrimental to the sport
of automobile racing, NASCAR, any sponsors of the Event, or any sponsors of the NASCAR Sprint Cup Series. PROMOTER assumes full responsibility for, and will indemnify NASCAR against, any loss, expense or damage incurred as a result of NASCAR’s
determination with respect to any proposed award arranged by or through PROMOTER. All Additional Awards are subject to independent verification by NASCAR. 

 16. Unauthorized Awards. PROMOTER shall not offer an award of any kind, at the Event or any other NASCAR-sanctioned event, or any other non-NASCAR sanctioned event, which in any way utilizes
or relies upon the points system, money standings, or any other NASCAR-sanctioned race related results, without NASCAR’s prior written approval. If PROMOTER offers such an award without NASCAR’s prior written approval, NASCAR may terminate
the sanction granted by this Agreement and/or seek to prohibit or enjoin PROMOTER from offering such an award and/or pursue any other remedies available to it. If such an award is offered by a third party without NASCAR’s prior written
approval, PROMOTER shall cooperate with NASCAR to prohibit or enjoin the third party from offering such an award. Cooperation by PROMOTER shall include, but is not limited to, the assignment of PROMOTER’s rights to enjoin the third party. If
PROMOTER, in NASCAR’s sole judgment, fails to cooperate fully with NASCAR to prohibit or enjoin such an award, NASCAR at its option may terminate the sanction granted by this Agreement and/or pursue any other remedies available to it.

 PROMOTER’S FINANCIAL AND INSURANCE OBLIGATIONS 

17. Sanction Fee, Purse and Point Fund Monies. PROMOTER shall pay to Awards & Achievement Bureau, Inc., a Florida
Corporation, acting as an independent escrow agent, pursuant to the Escrow Agreement attached hereto as Exhibit 2, not later than the Payment Date set forth in Exhibit 1 to this Agreement, by wire transfer of funds, an amount equal to the sum of
PROMOTER’S Purse Money, Point Fund, Television Award Money and Sanction Fee set forth in Exhibit 1 to this Agreement, plus any other monies due NASCAR for the Event pursuant to this Agreement, unless otherwise directed by NASCAR in writing.
Time is of the essence. If said monies and fees are not paid in the manner required and by the Payment Date specified in Exhibit 1 to this Agreement, NASCAR at its option may (a) terminate the sanction granted by this Agreement,
(b) enforce collection of said monies and fees by suit or legal action, and/or (c) pursue any other remedies available to it. 
 18. Insurance. 
  

	 	a)	 Event Insurance. PROMOTER shall obtain and maintain comprehensive general liability insurance that is acceptable to NASCAR for the Event
from an insurance company that is acceptable to NASCAR for (i) spectator injury and property damage and (ii) participant legal 

  
 11 

	 	 
liability, product liability and advertising liability with a minimum combined single limit equal to but not less than Fifty Million Dollars ($50,000,000.00) per occurrence, and medical
malpractice liability insurance of not less than One Million Dollars ($1,000,000.00) (unless NASCAR approves a lesser limit in writing prior to the Event). NASCAR may require that PROMOTER obtain such insurance in greater amount or scope by
providing notice to PROMOTER at least one hundred twenty (120) calendar days prior to the date of the Event. PROMOTER shall deliver to NASCAR at Daytona Beach, Florida no later than the Notification Date set forth in Exhibit 1 to this
Agreement, a certified true copy of all public liability insurance policies in force for the Event. In all such policies and in all other liability policies obtained and maintained by PROMOTER and PROMOTER’s parent and affiliated company(ies),
including without limitation all umbrella and excess liability policies, the following will be named as insured or additional insured: National Association for Stock Car Auto Racing, Inc., CL Bureau, Inc., Delaware General Corporation, Awards and
Achievement Bureau, Inc., Automotive Research Bureau, Inc., Motorsports Charities, Inc., their shareholders, directors, officers, employees, agents, Officials, members, parent and subsidiaries; all NASCAR Rights Affiliates; all Competitors; car
sponsors; car owners, all sponsors for the Event or the series of which the Event is a part; ACCUS-FIA, the NASCAR Hall of Fame, and all third parties with whom NASCAR has contracted with respect to the exploitation of Live Broadcast Rights and
Ancillary Rights. All policies shall be primary regardless of insurance carried by NASCAR or other additional insureds, and contain a cross liability endorsement acceptable to NASCAR. If (a) PROMOTER fails to deliver such policies to NASCAR by
the Notification Date, (b) the policies are not acceptable to NASCAR, or (c) PROMOTER fails to maintain such policies with the required minimum coverage throughout the Event, NASCAR at its option but at PROMOTER’s expense may obtain
the required insurance from an acceptable insurance company or NASCAR may terminate the sanction granted by this Agreement immediately and without notice to PROMOTER and/or pursue any other remedies available to it. 

 

	 	b)	Broadcast Insurance. NASCAR shall require the Entity providing the Live Broadcast to maintain statutory and workers’ compensation coverages.
NASCAR shall require the Entity providing the Live Broadcast to name PROMOTER and NASCAR as additional insureds on its broadcast and comprehensive general liability policies. These policies shall have a limit of at least One Million Dollars ($ 1
million) per occurrence and Two Million Dollars ($2 million) annual aggregate. 

  

	 	c)	NASCAR Insurance Plan. The NASCAR insurance plan (participant/accident coverage in place for NASCAR-licensed Competitors in NASCAR-sanctioned racing) is
not applicable to and does not provide coverage for Competitors, whether NASCAR-licensed or not, in any non-NASCAR- sanctioned racing or other activities at the Facility during the Event that are not expressly listed in this Agreement or in a fully
executed NASCAR sanction agreement pertaining to another NASCAR series running during the Event. 

ADVERTISING AND USE OF MARKS 
 19. Cross Trademark Licenses. 
  

	 	a)	Grant of License by NASCAR. NASCAR hereby grants to PROMOTER a non-transferable, non-exclusive, royalty-free license to use, strictly in accordance with
the terms of this Agreement, the NASCAR and NASCAR Sprint Cup Series marks listed on Exhibit 3 to this Agreement (collectively, the “NASCAR Marks”) in connection with the publicity, promotion and advertising of the Event. This license
shall terminate upon the expiration or termination of the sanction granted by this Agreement. 

  
 12 

	 	i)	Terms and Conditions of Use. PROMOTER shall display the official NASCAR logo, the official NASCAR Sprint Cup Series logo and the phrase
“NASCAR-Sanctioned NASCAR Sprint Cup Series Championship Event” (collectively, the “Official Logos”) in all publicity, advertising and promotion relating to the Event, in accordance with Section 9.u) of this Agreement. The
number and specific location of such displays and the color and size of the Official Logos shall be subject to NASCAR’s approval, and PROMOTER shall abide by and comply with all determinations and directives of NASCAR with respect to such
matters. NASCAR may disapprove and prohibit PROMOTER’s actual or intended use of the NASCAR Marks in any location, media or publication if NASCAR determines that such use is or will be detrimental to NASCAR, to the Event, to the series of which
the Event is a part, or to the sport. 

  

	 	ii)	Limited Authorization. This license does not authorize PROMOTER to use the NASCAR Marks in its corporate business or firm name and title nor to use or
permit the use of the Marks other than in accordance with the terms and conditions of this Agreement. 

  

	 	iii)	Indemnity. NASCAR hereby agrees to indemnify PROMOTER from any claims or loss arising out of PROMOTER’s use of the NASCAR Marks in accordance with
the terms and conditions of this Agreement. 

  

	 	b)	Grant of License by PROMOTER. PROMOTER hereby grants to NASCAR a non-transferable, non-exclusive, royalty-free license to use and sublicense, strictly in
accordance with this Agreement, PROMOTER’s Marks listed on Exhibit 4 to this Agreement (collectively, the “PROMOTER’s Marks”) in connection with publicity, promotion and advertising of the Event and the NASCAR Sprint Cup Series,
the publicity, promotion and advertising of the NASCAR Hall of Fame, and the exploitation of Live Broadcast Rights and Ancillary Rights. This license shall be perpetual with respect to the exploitation of Live Broadcast Rights and Ancillary Rights
and the publicity, promotion and advertising of the NASCAR Hall of Fame; with respect to all other rights, this license shall terminate upon the expiration or termination of the sanction granted by this Agreement. 

 

	 	i)	Terms and Conditions of Use. NASCAR shall have the right to use and sublicense PROMOTER’s Marks in connection with publicity, promotion or
advertising of the Event and the NASCAR Sprint Cup Series, and the exploitation of Live Broadcast Rights and Ancillary Rights, provided, however, that NASCAR shall not, without the prior written consent of PROMOTER, use or sublicense
the use of PROMOTER’s Marks on the branding of any retail package product, unless otherwise expressly permitted in this Agreement. 

  

	 	ii)	Limited Authorization. This license does not authorize NASCAR to use PROMOTER’s Marks in its corporate business or firm name and title nor to use or
permit the use of PROMOTER’s Marks other than in accordance with the terms and conditions of this Agreement. 

  

	 	iii)	Indemnity. PROMOTER hereby agrees to indemnify NASCAR from any claims or loss arising out of NASCAR’s use of PROMOTER’s Marks in accordance with
the terms and conditions of this Agreement. 

 20. Limited Assignment of Certain Other Rights.
Solely to the extent that any other person or entity grants to NASCAR rights to use and sublicense their name(s), picture(s), likeness(es) or performance(s) in connection with the Event, NASCAR hereby grants to PROMOTER a non-exclusive sublicense to
use such name(s), picture(s), likeness(es) 

  
 13 

 
of performance(s) for the purpose of publicizing, promoting or advertising the Event, but not for the purpose of exploiting Live Broadcast Rights or Ancillary Rights. Notwithstanding the
foregoing, NASCAR may disapprove and prohibit PROMOTER’S actual or intended use of such name, picture, likeness or performance if NASCAR determines that such use is or will be detrimental to NASCAR, to the Event, to the series of which the
Event is a part, or to the sport. 
 21. Misrepresentations. PROMOTER shall make no misrepresentations of fact in
connection with publicizing, promoting or advertising the Event. If such a misrepresentation is made (a) PROMOTER shall promptly correct the misrepresentation through a subsequent PROMOTER publication, (b) NASCAR may correct the
misrepresentation itself through NASCAR publication at PROMOTER’S expense, (c) NASCAR may terminate the sanction granted by this Agreement, and/or (d) NASCAR may pursue any other remedies available to it. 

22. Cooperation with Sponsors. PROMOTER acknowledges that the Event is part of the NASCAR Sprint Cup Series. PROMOTER shall
cooperate fully with NASCAR, with the series sponsor(s), and with any other company that has contracted with NASCAR to sponsor awards or programs (including without limitation the Coors Light Pole Award or the Raybestos Brakes Rookie-of-the-Year
Award) that are based in whole or in part on a Competitor’s performance in the Event or over a number of NASCAR Sprint Cup Series events, in connection with those sponsors’ activities, if any, during the Event. PROMOTER, on its own and at
the request of NASCAR, will use its best efforts to feature such sponsors prominently in all of PROMOTER’S advertising, publicity and promotion in connection with the Event, and no competitor of such a sponsor shall be featured therein as
prominently as such sponsor. PROMOTER shall take no action that, in NASCAR’s sole determination, will jeopardize the maintenance or continuation of such sponsorships. In the event that the series title sponsorship or official fuel supplier
changes after the Effective Date of this Agreement and prior to the conclusion of the Event, PROMOTER will not renew, extend or enter into any new agreement with any sponsor that represents a conflict with the new series sponsor or official fuel
supplier during the Event. The determination of what constitutes a conflict shall be at NASCAR’s sole discretion. PROMOTER will use its best efforts to resolve all existing sponsor conflicts, if any, relative to these categories in an
expeditious manner. PROMOTER will maintain the full inventory of at-track and Event-related benefits provided by the PROMOTER to the current series sponsor for the availability of a new series sponsor. PROMOTER will maintain the full inventory of
at-track and Event-related benefits provided by the PROMOTER to the current official fuel supplier for the availability of a new official fuel supplier, provided that the new series sponsor and the new official fuel sponsor shall enter into a
licensing agreement with the PROMOTER with respect to such rights. PROMOTER shall permit the use of the PROMOTER’s Marks by the new series sponsor and by the new official fuel supplier for the purposes of reporting, promoting, publicizing, and
advertising the Event, the Series, and/or the new series sponsor’s or new official fuel supplier’s product/service affiliation with the Event and/or the Series. 
 23. Approval of Advertising and Sponsors. NASCAR reserves the right to approve or disapprove any advertising, sponsorship or similar agreement in connection with the Event. PROMOTER
acknowledges that the sale or use, for advertising purposes, of space at the Facility or in any publications distributed in connection with the Event is an action that could have an impact upon the existing sponsorships described in Section 22
above, or on third parties who have entered into contracts or other agreements with NASCAR or NASCAR Rights Affiliates with respect to Live Broadcast Rights or Ancillary Rights. PROMOTER shall seek written approval by NASCAR prior to such sale to or
use by competitors of such sponsors or third parties, which NASCAR may provide or withhold in its sole discretion. 
 24.
National Program Package. PROMOTER shall participate in the NASCAR National Program Ad Package, including the rules and regulations relating thereto, if offered. 
 BROADCAST RIGHTS 
 25. Ownership of Live Broadcast Rights and
Ancillary Rights. PROMOTER acknowledges that NASCAR, as the entity conducting the Competition, exclusively and in perpetuity owns the Live Broadcast Rights and Ancillary Rights with respect to the Competition. In addition, to the extent not
already owned by NASCAR, PROMOTER hereby 

  
 14 

 
assigns to NASCAR exclusively and in perpetuity any and all rights to transmit, film, tape, capture, overhear, photograph, collect or record by any means, process, medium or device, whether or
not currently in existence, all images, sounds and data arising from or during the Event and agrees that NASCAR shall be the sole owner of the Live Broadcast Rights and the Ancillary Rights and any other works, copyrightable or otherwise, created
from the images, sounds and data arising from or during the Event. PROMOTER represents and warrants that as of the date of this Agreement, it has not granted to any third party the rights granted in the immediately prior sentence, including but not
limited to rights relating to the Internet or World Wide Web, unless otherwise expressly disclosed in writing to NASCAR prior to the date of this Agreement. PROMOTER shall take all steps reasonably necessary, and all steps reasonably requested by
NASCAR, to protect, perfect or effectuate NASCAR’s ownership or other interest in the rights that are the subject of this Section 25. Without limiting the foregoing, PROMOTER will include (a) the broadcast rights language for tickets
specified in Exhibit 5 of this Agreement on all Event admission materials including without limitation tickets, suite passes and credentials, and (b) the broadcast rights language for ticket-related material specified in Exhibit 5 of this
Agreement on all renewal forms, ticket brochures and related material distributed to recipients of such admission materials. PROMOTER may obtain from NASCAR or a NASCAR Rights Affiliate, without charge to the PROMOTER, images, sounds or data that
are the subject of this Section 25, but only for the purpose of publicity, promotion or advertising of the Event, and only to the extent determined by NASCAR to be reasonably required for such purpose. 

26. Exploitation of Live Broadcast Rights and Ancillary Rights. NASCAR may, but shall not be obligated to exploit Live
Broadcast Rights and Ancillary Rights. If and to the extent NASCAR decides to exploit such rights, it may form or cause to be formed one or more NASCAR Rights Affiliates and it may assign some or all of the rights owned by or granted to it pursuant
to Section 25 to the extent determined by NASCAR to be reasonably necessary to permit such exploitation. NASCAR or such NASCAR Rights Affiliates may further assign, grant, sell, license, lease or otherwise transfer such rights, either alone or
in combination with other similar rights, combine Live Broadcast Rights and Ancillary Rights with other similar rights obtained from other promoters, Competitors, sponsors, broadcasters or other third parties, enter into agreements of any kind with
respect to any part or all of such rights, including without limitation agreements with or between NASCAR and other NASCAR Rights Affiliates, PROMOTER, or third parties, and generally take such action as they may determine to be appropriate. Subject
only to the obligation imposed on NASCAR by the immediately succeeding sentence in this Section 26, NASCAR may license, assign, or otherwise transfer rights in or to any NASCAR Intellectual Property for a commercially reasonable rate to one or
more NASCAR Rights Affiliates, but any income or revenue received or generated by NASCAR as a result of such a transaction shall be solely for the account of NASCAR or its assignee and shall not be subject to payment to the PROMOTER or any other
person or entity under the terms of this Agreement. NASCAR shall license, assign, or otherwise transfer rights in or to any NASCAR Intellectual Property, without fee, to one or more NASCAR Rights Affiliates to the extent determined by such
Affiliates to be reasonably necessary to permit them to exploit Live Broadcast Rights. 
 27. Payment of Live Broadcast
Income. On or before the Payment Date listed in Exhibit 1, NASCAR shall cause the NASCAR Rights Affiliate(s) engaged in the exploitation of Live Broadcast Rights to pay, on PROMOTER’s behalf, twenty-five percent (25%) of Event
Broadcast Income to Awards and Achievement Bureau, Inc., acting as an independent escrow agent, for distribution to the Competitors as part of the purse for the Event. On or before twenty (20) calendar days after the Event, NASCAR shall cause
the NASCAR Rights Affiliate(s) to pay sixty-five (65%) of Event Broadcast Income to PROMOTER. Notwithstanding the foregoing: 
  

	 	a)	PROMOTER has no right to Event Broadcast Income if the Competition is not commenced and officially completed (as determined in accordance with the Rule Book).

  

	 	b)	 If, for any reason, the Live Broadcast Income to be received by NASCAR or the NASCAR Rights Affiliate(s) is reduced in whole or in part, or if NASCAR
or the NASCAR Rights Affiliate(s) becomes obligated to repay any portion of Live Broadcast Income, the NASCAR Rights Affiliate’s 

  
 15 

	 	 
obligation to make the payments otherwise required by this Section 27 shall be reduced by an amount calculated by multiplying the reduction or repayment by the percentage set forth in
Exhibit 1. If payment of the PROMOTER’s share of Live Broadcast Income had been made to PROMOTER prior to the determination of a reduction in, or an obligation to repay a portion of, Live Broadcast Income, then PROMOTER shall be obligated to
repay NASCAR or the NASCAR Rights Affiliate(s) a prorated share in accordance with the percentage set forth in Exhibit 1 within thirty (30) calendar days after notification by NASCAR. 

NASCAR or the NASCAR Rights Affiliate(s) shall retain the NASCAR Television Retention listed in Exhibit 1 (ten percent (10%) of Event Broadcast
Income) for its own account. 
 28. Payment of Net Ancillary Rights Income. NASCAR or the NASCAR Rights
Affiliate(s) engaged in the exploitation of Ancillary Rights shall distribute Net Ancillary Rights Income as follows: 
  

	 	a)	Timing. Within three (3) months after the end of the calendar year during which the Event is held, NASCAR or such NASCAR Rights Affiliate(s) shall
determine the total amount of Net Ancillary Rights Income, if any, received by it during that calendar year. Within thirty (30) calendar days after such determination, NASCAR or such NASCAR Rights Affiliate(s) shall distribute such Net
Ancillary Rights Income pursuant to the formula set forth in Section 28.b) below. Notwithstanding the foregoing, PROMOTER has no right to Event Net Ancillary Rights Income if there is an Event of Default giving rise to the termination of this
sanction or the withholding of payments in accordance with Section 31, or if the Competition is not commenced and officially completed (as determined in accordance with the Rule Book), unless the sole reason that the Event is not commenced and
officially completed is a strike, war, declaration of a state of national emergency, or an act of God or the public enemy or other circumstances beyond the control of PROMOTER). 

 

	 	b)	Allocation. NASCAR or such NASCAR Rights Affiliate(s) shall pay: (i) twenty-five percent (25%) of Net Ancillary Rights Income to
Awards & Achievement Bureau, Inc. for distribution as part of the Point Fund awards at the end of the next calendar year, for Winners’ Circle or similar programs, or for other programs designed for the benefit of Competitors, as NASCAR
may determine from time to time and (ii) sixty-five percent (65%) of Event Net Ancillary Rights Income to PROMOTER. NASCAR or the NASCAR Rights Affiliate(s) shall retain the remaining ten percent (10%) of Net Ancillary Rights Income
for its own account. 

 29. Maintenance of and Access to Contracts and Other Books and Records. Each
NASCAR Rights Affiliate will maintain for a period of six (6) years from the date of the Event (a) true and complete copies of any written Live Broadcast Rights Contract relating to the Event and (b) such books and records as are
commercially reasonable for the purpose of auditing its Live Broadcast Income and Net Ancillary Rights Income received during the calendar year in which the Event is held. Each NASCAR Rights Affiliate will permit PROMOTER or its authorized agent to
inspect and audit any or all such contracts, books and records, wherever they may be located or at any other mutually agreeable location, but only upon reasonable notice and at such reasonable times as determined by the NASCAR Rights Affiliate, and
only at the business premises of the NASCAR Rights Affiliate where they are located, and subject at all times to Section 36 (relating to confidentiality and proprietary information). 

30. Limitation of Liability. NASCAR and the NASCAR Rights Affiliate(s) shall be solely responsible for, and shall have
complete discretion with respect to, the manner, extent and timing of any license, assignment, transfer or other use or exploitation of Live Broadcast Rights and Ancillary Rights, either through independent third parties, NASCAR Rights Affiliate(s)
or otherwise. NASCAR and the NASCAR Rights Affiliate(s) shall have no liability to PROMOTER with respect to such activities or the amount of Live Broadcast Income or Net Ancillary Rights Income arising out of or generated by such activities.
PROMOTER hereby promises and covenants not to assert any claim or file any suit or other legal action against NASCAR or any NASCAR Rights Affiliate on the ground that it or they have failed in any way, material or otherwise, to exploit, maximize or
earn profits of any kind or amount with respect to Live Broadcast Rights or Ancillary Rights. 

  
 16 

 GENERAL PROVISIONS 

31. Events of Default. For purposes of this Agreement, “Event of Default” means: 

 

	 	a)	Failure of PROMOTER to abide by the material provisions of this Agreement or the Rule Book; 

 

	 	b)	Failure of PROMOTER to take such actions, or refrain from taking actions, as reasonably may be requested by NASCAR in accordance with this Agreement;

  

	 	c)	Any act, omission or condition expressly described in this Agreement as giving NASCAR the right to terminate this Agreement or the sanction granted by this Agreement;

  

	 	d)	A change, material or otherwise, in the ownership, control or management of PROMOTER; 

 

	 	e)	A statement by PROMOTER that it is not or will not be able to pay its debts as they become due; an application or agreement by PROMOTER for the appointment of a
receiver or trustee in liquidation; a general assignment by PROMOTER for the benefit of creditors; the filing by PROMOTER of a voluntary petition in bankruptcy or a petition seeking reorganization or an arrangement of creditors under any bankruptcy
law; the filing by another person or entity of a petition under any bankruptcy law that makes PROMOTER a party; or the adjudication of PROMOTER as bankrupt under any bankruptcy law; 

 

	 	f)	Activity by PROMOTER of any kind, including without limitation litigation, that NASCAR determines to be detrimental to the sport or to NASCAR. 

 

	 	g)	Failure to provide financial guarantees, if required, as follows: if NASCAR becomes aware, through any means, of a possible change in the PROMOTER’s affairs which
might reasonably be determined to have a material adverse effect on the organization or conduct of the Event including, but not limited to, the withdrawal or reduction of major Event sponsorship(s), delinquencies or defaults by PROMOTER in payments
to other entities, litigation relative to the Event, PROMOTER or the Facility, failure of PROMOTER to perform under similar agreements with third parties for other events, and so on, then NASCAR may require PROMOTER to take whatever action that
NASCAR determines is necessary to insure the successful organization and conduct of the Event. Such action may include, but is not limited to, posting a bond, providing an irrevocable letter of credit, and/or providing a financial instrument, or
mechanism sufficient to guarantee, in NASCAR’s reasonable discretion, that all financial obligations of the PROMOTER relative to the Event can be met. 

 If there is an Event of Default, at its option NASCAR may demand that PROMOTER cure any failure or breach giving rise to the Event of Default or terminate this Agreement or the sanction granted by this
Agreement, and/or NASCAR may withhold from any payments due to PROMOTER under this Agreement an amount reasonably calculated to hold harmless NASCAR, NASCAR Rights Affiliate(s), sponsors, Competitors, Officials, persons or entities contracting with
NASCAR or NASCAR Rights Affiliate(s) with respect to Live Broadcast Rights or Ancillary Rights, and other persons or entities involved in the Event from any loss resulting from the Event of Default. NASCAR’s determination as to such amount is
binding on PROMOTER. NASCAR shall notify PROMOTER in writing of its decision to terminate and/or to withhold payments. If the sanction is terminated, such termination shall be effective as of the date the notice was sent by NASCAR or at such later
date as may be specified by NASCAR in the notice. PROMOTER shall promptly comply with all monetary obligations that have accrued as of the effective date of termination, and all other terms and conditions of this Agreement shall survive such
termination. Nothing in this Section 31 shall be construed to limit NASCAR’s other rights or remedies, or to preclude NASCAR from enforcing such rights or pursuing such remedies to the fullest extent possible. 

32. Assignment. A party may not assign its rights or delegate its obligations under this Agreement without the prior
written consent of the other party, except as otherwise permitted by this Agreement. 
 33. Determinations by NASCAR.
Except where expressly stated otherwise, whenever this Agreement provides or permits NASCAR to make a determination regarding a matter, NASCAR may make such determination in its sole judgment and discretion, and such determination may not be
challenged, amended, voided or nullified on the ground that it was incorrect or unreasonable. 
 34. Limited
Application. This Agreement and the sanction granted herein relate solely to the Event and the date set forth in Exhibit 1 to this Agreement. Nothing in this Agreement, or in the course of dealing between the parties,

  
 17 

 
will be construed to require PROMOTER or NASCAR to enter into a sanction agreement or to issue a sanction for the Event or any other event in the future. 

35. Disclaimer of Warranty. NASCAR (on behalf of itself and each and every NASCAR Rights Affiliate, whether existing now or
created hereafter) does not warrant, either expressly or by implication, nor is it responsible for, the financial or other success of the Event, the number or identity of sponsors, the number or identity of vehicles or Competitors participating in
the Event, the adequacy of the services it provides, the suitability of the Facility for the Event. the safety of the public, the Competitors or any other person entering the Facility in connection with the Event, the financial return from the
exploitation of Live Broadcast Rights or Ancillary Rights, or any other matter not expressly agreed to or warranted by NASCAR herein. 
 36. Proprietary Information; Confidentiality. PROMOTER acknowledges that (i) this Agreement, (ii) any technical, business or financial information or documents used, provided or
disclosed by NASCAR or any NASCAR Rights Affiliate in connection therewith or pursuant thereto, (iii) customer lists of any kind or nature used, provided or disclosed by NASCAR or any NASCAR Rights Affiliate, (iv) the manner in which
NASCAR or any NASCAR Rights Affiliate engages in the exploitation of Live Broadcast Rights or Ancillary Rights, (v) the manner in which NASCAR conducts and controls the Competition, (vi) the manner in which NASCAR promotes the Event, the
series of which the Event is a part, and the sport of stock car racing in general, and (vii) the manner in which NASCAR forms, promotes and maintains relationships with sponsors, Competitors, Officials, other promoters, fans and other third
parties involved in the Event (collectively “NASCAR Proprietary Information”), constitutes information that is proprietary to NASCAR and/or the NASCAR Rights Affiliate(s) and may not be used by PROMOTER except in connection with the
performance of PROMOTER’s duties under this Agreement. Except for that purpose, PROMOTER shall at all times and forever maintain NASCAR Proprietary Information in a confidential manner and shall not disclose it or use it on behalf of itself or
any third party unless it is in the public domain as a result of an act or omission caused by a person or entity other than PROMOTER. PROMOTER acknowledges that any unauthorized use or disclosure of NASCAR Proprietary Information that is in
violation of this Section 36, or other violation or threatened violation of this Section 36, could cause irreparable damage to NASCAR and/or the NASCAR Rights Affiliate(s) and, therefore, that NASCAR and or the NASCAR Rights Affiliate(s)
shall be entitled to an injunction prohibiting PROMOTER or any related party from engaging in such violation and to attorney’s fees and costs for having to bring any action to enforce this Section 36. 

37. No Joint Venture. Nothing in this Agreement will be construed to place NASCAR or NASCAR Rights Affiliate(s) in the
relationship of a partner or joint venturer with PROMOTER. Neither party may, or has power to, obligate or bind the other party in any manner other than as provided expressly in this Agreement. 

38. Series Name. NASCAR may modify, alter, change or replace the name or sponsor of the series of which the Event is a
part, at any time. In that event, PROMOTER shall use the new name and related logos or marks in all communications, advertising, publicity and promotion relating to the Event. 
 39. Indemnification; Repayment. PROMOTER shall indemnify and hold NASCAR and all NASCAR Rights Affiliates and NASCAR additional insureds (as specified in Section 18.a.) harmless from
any and all claims, allegations, demands, obligations, suits, actions, causes of action, proceedings, rights, damages, and costs of any nature arising out of the Event or this Agreement, unless such claim, allegation, demand, obligation, suit,
action, cause of action, proceeding, right, damage or cost arises solely out of the negligent act or negligent omission of NASCAR or any NASCAR Rights Affiliate or any NASCAR additional insureds. With respect to any matter falling within the scope
of PROMOTER’s obligation to defend and hold NASCAR and the NASCAR Rights Affiliates harmless, NASCAR and the NASCAR Rights Affiliate and NASCAR additional insureds shall be entitled to select counsel to represent it in such matter at
PROMOTER’s expense, and that counsel’s duties and obligations in all respects shall be solely to NASCAR and to the NASCAR Rights Affiliate(s) and to the NASCAR additional insureds. 

  
 18 

 40. Recovery of Attorney’s Fees. In the event of litigation arising out
of the enforcement of this Agreement or terms and conditions, attorney’s fees and costs shall be awarded to the prevailing party. 
 41. Representation Regarding Ownership of Facility. PROMOTER represents and warrants that, during the calendar year in which the Event is conducted and at all other times material to this
Agreement, with respect to the Facility and the material assets thereof, either it holds, and will hold at all times relevant to the Event: (i) good and marketable title; or (ii) a valid and binding leasehold or other contractual interest
for the management and operation of the Facility. PROMOTER represents and warrants that it is the direct owner or lessee of the material assets (other than real estate) of the Facility and no material assets (other than real estate) of the Facility
are owned or leased through a subsidiary, affiliate, parent corporation, sister corporation or, in the case of an individual, a family member of the PROMOTER. In the event PROMOTER is not able to make such representations and warranties as set forth
above, then that entity which can make such representations and warranties must execute the Guaranty Agreement attached hereto as Exhibit 6. 
 42. Notice. Unless otherwise permitted herein, notice required by the Agreement shall be given by facsimile/telecopy, and by overnight mail or other express service, postage prepaid,
addressed as follows: 
  

			
	TO NASCAR:	  	 National Association for Stock Car Auto Racing, Inc.
 International Motorsports Center
 One Daytona Boulevard

Daytona Beach, FL 32114
  
 Attention: Steve O’Donnell
  
 With a copy to:
  
 W. Garrett
Crotty, Esq.
 (at the same location)
  

Requests for NASCAR approval and/or consent, notification of planned improvements or alterations to the Facility, and information the PROMOTER must
provide to NASCAR per this Agreement to:
  
 Steve O’Donnell

(at the same location)

		
	TO PROMOTER:	  	The Address set forth in Exhibit 1 to this Agreement

 43. Notification Change. Either party may change the person(s) or locations to which notice
must be given pursuant to Section 42, by providing written notice to the other party in accordance herewith. 

44. Entire Agreement; Amendments. This Agreement, including Exhibits 1 through 6 hereto, constitutes the entire agreement
between NASCAR and PROMOTER. All previous communications and negotiations between NASCAR and PROMOTER, whether oral or written, not contained herein are hereby withdrawn and void. This Agreement may not be amended except in writing and signed by
both parties. 
 45. Agreement Binding on Heirs, Successors and Assigns. The rights and obligations
contained in this Agreement shall bind, and inure to the benefit of, the parties and their respective successors and permitted assigns. 

  
 19 

 46. Governing Law. This Agreement shall be governed by and construed
according to the laws of Florida applicable to agreements made to be performed therein (without giving effect to the conflict of law provisions of such jurisdiction). 
 47. Jurisdiction. With respect to any litigation between the parties arising out of, or relating in any way to, the business relationship between the parties, including but not limited to
the Event, the Agreement, or any proposed business relationship between the parties, venue shall lie solely in a state court sitting in Volusia County, Florida, or the United States District Court for the Middle District of Florida, Orlando Division
if in a case of exclusive federal jurisdiction, and all parties hereto consent to service of process by, and the jurisdiction of, those courts. 

IN WITNESS WHERE OF , this Agreement has been read and signed by the duly authorized representative of each party, on the dates set forth below.

  

					
		 		 	Dover International Speedway, Inc.
			
		 		 	PROMOTER
		 		 	BY:
			
	Date 6/16/11	 		 	/s/ DENIS McGLYNN
		 		 	Signature
			
		 		 	Print Name: Denis McGlynn
			
		 		 	Title: President
			
		 		 	NATIONAL ASSOCIATION FOR STOCK
		 		 	CAR AUTO RACING, INC.
		 		 	BY:
			
	Date 12/20/11	 		 	/s/ STEVE O’DONNELL
		 		 	Steve O’Donnell
		 		 	Vice President of Racing Operations

  
 20 

 ADDENDUM TO 
 SANCTION AGREEMENT 
 (Radio Rights) 

This Addendum Agreement (“Addendum”) to the Sanction Agreement (“Agreement”) between National Association for Stock
Car Auto Racing, Inc. (“NASCAR”), a corporation with its principal offices located in Daytona Beach, Florida, and the PROMOTER (specified on Exhibit 1 to the Agreement), is entered into and is effective as of the Effective Date (specified
on Exhibit 1 to the Agreement). 
 RECITALS 

WHEREAS, NASCAR and PROMOTER are entering into the Agreement on the terms and as of the Effective Date stated therein; and 

WHEREAS, NASCAR and PROMOTER wish to amend certain provisions in the Agreement by this Addendum; 

NOW, THEREFORE, NASCAR and PROMOTER, in consideration of the mutual promises set forth below, and intending to be legally bound, agree to
the following Addendum to the Agreement: 
 ADDENDUM AGREEMENT 

A. Amendment to Section 25. Section 25 of the Agreement is hereby amended by adding at the end of such section the
following: 
 “NASCAR” hereby licenses to PROMOTER exclusively the use of that portion of Ancillary Rights for the
purpose of sublicensing such rights for the broadcast and rebroadcast, on either a contemporaneous or delayed basis, by conventional AM, FM or short-wave radio (but not by any other means of transmission), of the performance of the Event
(“Radio Rights”). Nothing in the immediately preceding sentence shall be construed as an assignment or other license, grant, assignment or other transfer of (i) Radio Rights for any event or other activity in any year other than calendar
year 2012 or for any purpose or use other than set forth above, (ii) Live Broadcast Rights, or (iii) Ancillary Rights other than Radio Rights.” 
 B. Conflicts. If any other provision in the Agreement conflicts with any provision in this Addendum, the provision in the Agreement shall be construed or, if necessary, amended to give effect to
the provision in this Addendum with which it conflicts. 
 IN WITNESS WHEREOF, this Addendum has been read and signed by the
duly authorized representative of each Party, on the dates set forth below. 
  

							
		 		 	Dover International Speedway, Inc.
		 		 	PROMOTER
		 		 	BY:
				
	Date: 6/16/11	 		 	Signature:	 	 /s/ DENIS MCGLYNN

		 		 	Print Name:	 	Denis McGlynn
		 		 	Title:	 	President
			
		 		 	 NATIONAL ASSOCIATION FOR STOCK CAR
 AUTO RACING, INC.

		 		 	BY:
			
	Date: 12/20/11	 		 	 /s/ STEVE O’DONNELL

		 		 	Steve O’Donnell
		 		 	Vice President of Racing Operations

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