Document:

EX-10.7

 Exhibit 10.7 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [**], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY
CAUSE COMPETITIVE HARM TO BEAM THERAPEUTICS INC. IF PUBLICLY DISCLOSED. 
 LICENSE AGREEMENT 

by and between 
 BIO
PALETTE CO., LTD. 
 and 

BEAM THERAPEUTICS INC. 

March 27, 2019 

 TABLE OF CONTENTS 

 

							
	 Article 1 DEFINITIONS AND INTERPRETATION
	  	 	1	 
			
	 1.1.
	  	Definitions	  	 	1	 
			
	 1.2.
	  	Interpretation	  	 	11	 
		
	 Article 2 LICENSE AND OPTIONS
	  	 	12	 
			
	 2.1.
	  	License Grants	  	 	12	 
			
	 2.2.
	  	Sublicensing Rights	  	 	13	 
			
	 2.3.
	  	No Implied Licenses; Reservation of Rights	  	 	14	 
			
	 2.4.
	  	Coordination in the Microbiome Field	  	 	14	 
			
	 2.5.
	  	Right of First Negotiation	  	 	14	 
			
	 2.6.
	  	Rights Upon Bankruptcy	  	 	15	 
			
	 2.7.
	  	Beam In-Licenses6	  	 	15	 
			
	 2.8.
	  	Bio Palette In-License	  	 	16	 
		
	 Article 3 DEVELOPMENT AND COMMERCIALIZATION
	  	 	17	 
			
	 3.1.
	  	Joint Steering Committee	  	 	17	 
			
	 3.2.
	  	Beam Scientific Advisory Board	  	 	17	 
			
	 3.3.
	  	Japan Activities	  	 	18	 
			
	 3.4.
	  	Diligence	  	 	18	 
			
	 3.5.
	  	Progress Reports	  	 	18	 
			
	 3.6.
	  	Regulatory Activities	  	 	18	 
		
	 Article 4 COMPENSATION
	  	 	19	 
			
	 4.1.
	  	Upfront Payment	  	 	19	 
			
	 4.2.
	  	Additional Upfront Payment	  	 	19	 
			
	 4.3.
	  	Equity Issuance	  	 	19	 
			
	 4.4.
	  	Royalties	  	 	19	 
			
	 4.5.
	  	Reports and Payment	  	 	20	 
			
	 4.6.
	  	Payment Method; Late Payments	  	 	20	 
			
	 4.7.
	  	Currency	  	 	21	 
			
	 4.8.
	  	Taxes and Withholding	  	 	21	 
			
	 4.9.
	  	Accounting	  	 	21	 
		
	 Article 5 INTELLECTUAL PROPERTY
	  	 	22	 

  
 i 

							
			
	 5.1.
	  	Ownership of Intellectual Property	  	 	22	 
			
	 5.2.
	  	Filing, Prosecution and Maintenance of Patents	  	 	22	 
			
	 5.3.
	  	Enforcement of Patents	  	 	22	 
			
	 5.4.
	  	Defense of Patents	  	 	24	 
			
	 5.5.
	  	Patent Term Restoration	  	 	24	 
		
	 Article 6 CONFIDENTIALITY
	  	 	24	 
			
	 6.1.
	  	Confidentiality; Exceptions	  	 	24	 
			
	 6.2.
	  	Authorized Disclosure	  	 	25	 
			
	 6.3.
	  	Press Releases; Disclosure of Agreement; Publicity	  	 	26	 
			
	 6.4.
	  	Use of Names	  	 	26	 
			
	 6.5.
	  	Termination of Prior Agreement	  	 	26	 
			
	 6.6.
	  	Remedies	  	 	26	 
		
	 Article 7 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	26	 
			
	 7.1.
	  	Representations and Warranties of Both Parties	  	 	26	 
			
	 7.2.
	  	Additional Representations and Warranties of Bio Palette	  	 	27	 
			
	 7.3.
	  	Additional Representations and Warranties of Beam	  	 	28	 
			
	 7.4.
	  	Additional Covenants of Bio Palette	  	 	29	 
			
	 7.5.
	  	Additional Covenants of Beam	  	 	29	 
			
	 7.6.
	  	Disclaimer	  	 	30	 
		
	 Article 8 INDEMNIFICATION; INSURANCE
	  	 	30	 
			
	 8.1.
	  	Indemnification by Beam	  	 	30	 
			
	 8.2.
	  	Indemnification by Bio Palette	  	 	31	 
			
	 8.3.
	  	Procedure	  	 	31	 
			
	 8.4.
	  	Insurance	  	 	32	 
			
	 8.5.
	  	LIMITATION OF LIABILITY	  	 	32	 
		
	 Article 9 TERM AND TERMINATION
	  	 	32	 
			
	 9.1.
	  	Term	  	 	32	 
			
	 9.2.
	  	Termination at Will	  	 	32	 
			
	 9.3.
	  	Termination for Material Breach	  	 	33	 
			
	 9.4.
	  	Termination for Patent Challenge	  	 	33	 
			
	 9.5.
	  	Bankruptcy	  	 	33	 

  
 ii 

							
			
	 9.6.
	  	Consequences of Termination	  	 	34	 
			
	 9.7.
	  	Non-Exclusive Remedy	  	 	34	 
			
	 9.8.
	  	Survival	  	 	35	 
		
	 Article 10 MISCELLANEOUS
	  	 	35	 
			
	 10.1.
	  	Escalation	  	 	35	 
			
	 10.2.
	  	Arbitration	  	 	35	 
			
	 10.3.
	  	Governing Law	  	 	36	 
			
	 10.4.
	  	Assignment	  	 	37	 
			
	 10.5.
	  	Performance Warranty	  	 	37	 
			
	 10.6.
	  	Force Majeure	  	 	37	 
			
	 10.7.
	  	Notices	  	 	38	 
			
	 10.8.
	  	Export Clause	  	 	39	 
			
	 10.9.
	  	Waiver	  	 	39	 
			
	 10.10.
	  	Severability	  	 	39	 
			
	 10.11.
	  	Entire Agreement	  	 	39	 
			
	 10.12.
	  	Independent Contractors	  	 	39	 
			
	 10.13.
	  	Language; Construction	  	 	39	 
			
	 10.14.
	  	Books and Records	  	 	40	 
			
	 10.15.
	  	Further Actions	  	 	40	 
			
	 10.16.
	  	Parties in Interest	  	 	40	 
			
	 10.17.
	  	Performance by Affiliates	  	 	40	 
			
	 10.18.
	  	Counterparts	  	 	40	 

  
 iii 

 LICENSE AGREEMENT 

This License Agreement (this “Agreement”), effective as of March 27, 2019 (the “Effective Date”), is
made by and between Bio Palette Co., Ltd., a Japanese corporation (“Bio Palette”), and Beam Therapeutics Inc., a Delaware corporation (“Beam”) (each, a “Party” and collectively, the
“Parties”). 
 WHEREAS, Bio Palette is a biotechnology company pioneering new technologies in the field of genome editing
and having valuable expertise in such technologies and their applications in various fields; 
 WHEREAS, Beam is a biotechnology company
focused on developing precision genetic medicines through base editing; and 
 WHEREAS, Beam wishes to obtain license rights from Bio
Palette with respect to certain Bio Palette-controlled Patents and Bio Palette wishes to obtain license rights from Beam with respect to certain Beam-controlled Patents, as more particularly set forth herein. 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS AND INTERPRETATION 

1.1. Definitions. The terms in this Agreement, when used with initial capital letters, have the meanings set forth below unless
otherwise expressly specified in this Agreement: 
 1.1.1. “Abbreviated Application” means (a) an application submitted to the
FDA under subsection (k) of Section 351 of the U.S. Public Health Service Act, 42 U.S.C. 201 et seq., or (b) any analogous application to an application set forth in clause (a) submitted to a Regulatory Authority in the
United States or in another country in the Territory. 
 1.1.2. “Abbreviated Approval Product” means, with respect to a Licensed
Product and on a country-by-country basis, a product that (a) is marketed for sale in such country by a Third Party that is not licensed, supplied, or otherwise
permitted by a Party or its Affiliates or sublicensees; (b) contains a Licensed Product or substantial equivalent or biosimilar product as an active pharmaceutical ingredient; and (c) as and to the extent required, is approved through a
process that includes the approval of an Abbreviated Application. 
 1.1.3. “Affiliate” means, with respect to a Party, any person,
corporation, firm, joint venture or other entity which, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such Party. As used in this definition, “control” means
the possession of the majority of the ownership, or the power to direct or cause the direction of the management and policies, of an entity, whether through the ownership of the outstanding voting securities thereof, by contract or otherwise. 

  
 1 

 1.1.4. “Applicable In-Licenses”
means, (a) with respect to the license grant to Beam under Section 2.1.1, the Bio Palette In-License and (b) with respect to the license grant to Bio Palette under Section 2.1.2, the Beam In-Licenses. 
 1.1.5. “Arbitration Request” has the meaning set forth in
Section 10.2. 
 1.1.6. “Asia Territory” means Brunei, Burma (Myanmar), Cambodia, China (PRC), East Timor, Hong Kong,
Indonesia, Japan, Laos, Macau, Malaysia, Mongolia, North Korea, Philippines, Singapore, South Korea, Taiwan (ROC), Thailand, Timor-Leste and Vietnam. 

1.1.7. “Bankruptcy Laws” has the meaning set forth in Section 2.6. 

1.1.8. “Base Editing” means [**]. 

1.1.9. “Base Editing Window” means a region within [**] nucleotides of a specific polynucleotide sequence bound by the nucleic
acid binding protein. 
 1.1.10. “Base Editor” means [**]. 

1.1.11. “Beam-Broad Agreement” means the License Agreement by and between The Broad Institute, Inc. and Blink Therapeutics
Inc., a wholly-owned subsidiary of Beam, dated as of May 9, 2018, as such agreement may be amended from time to time in accordance with its terms. 

1.1.12. “Beam Common Stock” means shares of common stock, $0.01 par value per share, issued by Beam. 

1.1.13. “Beam-Editas Agreement” means the License Agreement by and between Editas and Beam dated as of May 9, 2018, as
such agreement may be amended from time to time in accordance with its terms. 
 1.1.14. “Beam Field” means the treatment,
diagnosis or prevention of any human diseases or conditions, but excluding the Microbiome Field. 
 1.1.15. “Beam-Harvard
Agreement” means the License Agreement by and between President and Fellows of Harvard College and Beam, dated as of June 27, 2017, as such agreement may be amended from time to time in accordance with its terms. 

1.1.16. “Beam Indemnitee” has the meaning set forth in Section 8.2. 

1.1.17. “Beam In-Licenses” means the Beam-Harvard Agreement, the Beam-Broad Agreement
and the Beam-Editas Agreement. 
 1.1.18. “Beam Licensed Product” means any product or service the making, using, selling,
offering for sale, exporting or importing of which is Covered by a Valid Claim of a Bio Palette Patent in the country of such manufacture or sale, as applicable. 

  
 2 

 1.1.19. “Beam Patents” means (a) the Patents set forth on Exhibit
A, as may be amended or supplemented in writing by the Parties from time to time in accordance with this Agreement, and (b) any substitutions, divisionals, continuations,
continuations-in-part (only to the extent of claims that are entitled to the priority date of and directed specifically to the subject matter claimed in the applications
listed on Exhibit A), substitutes, counterparts and foreign equivalents thereof filed in any country, and any patents issuing thereon (but in the case of Patents issuing on
continuation-in-part applications, only to the claims thereof that are entitled to the priority date of and directed specifically to the subject matter claimed in the
applications listed on Exhibit A) and any reissues, reexaminations or extensions thereof, in each case, that are Controlled by Beam or its Affiliates during the Term. In addition, if, at any time during the Term, Beam Controls any Patents
pursuant to a license grant to Beam under Section 2.5 of the Beam-Editas Agreement, such Patents will be deemed Beam Patents hereunder, and Exhibit A shall be updated to include such Patents and thereafter such Patents shall be included
within the “Beam Patents”. 
 1.1.20. “Bio Palette Indemnitee” has the meaning set forth in Section 8.1. 

1.1.21. “Bio Palette In-License” means the License Agreement by and between Kobe
University and Bio Palette, dated as of May 9, 2017, as such agreement may be amended from time to time in accordance with its terms. 

1.1.22. “Bio Palette Licensed Product” means any product or service the making, using, selling, offering for sale, exporting
or importing of which is Covered by a Valid Claim of a Beam Patent in the country of such manufacture or sale, as applicable. 
 1.1.23.
“Bio Palette Patents” means (a) the Patents set forth on Exhibit B, as may be amended or supplemented in writing by the Parties from time to time in accordance with this Agreement, and (b) any substitutions,
divisionals, continuations, continuations-in-part (only to the extent of claims that are entitled to the priority date of and directed specifically to the subject matter
claimed in the applications listed on Exhibit B), substitutes, counterparts and foreign equivalents thereof filed in any country, and any patents issuing thereon (but in the case of Patents issuing on continuation-in-part applications, only to the claims thereof that are entitled to the priority date of and directed specifically to the subject matter claimed in the applications listed on Exhibit B)
and any reissues, reexaminations or extensions thereof, in each case, that are Controlled by Bio Palette or its Affiliates during the Term. 

1.1.24. [**] 
 1.1.25.
“BLA” means a Biologics License Application as defined in the U.S. Federal Food, Drug, and Cosmetic Act, 21 U.S.C. § 301 et seq., or any corresponding foreign application in the Territory, including, with respect to the
European Union, a Marketing Authorization Application filed with the EMA pursuant to the Centralized Approval Procedure or with the applicable Regulatory Authority of a country in Europe with respect to the mutual recognition or any other national
approval procedure. 
 1.1.26. “Breaching Party” has the meaning set forth in Section 9.3. 

1.1.27. “Broad” means The Broad Institute, Inc. 

  
 3 

 1.1.28. “Business Day” means any day other than a Saturday, Sunday or other
day on which banking institutions in Boston, Massachusetts or Kobe, Japan are permitted or required to remain closed. 
 1.1.29.
“Challenging Party” has the meaning set for in Section 9.4. 
 1.1.30. “Claims” has the meaning set
forth in Section 8.1. 
 1.1.31. “Clinical Trial” means any clinical trial in humans that is conducted in accordance
with Good Clinical Practices and is designed to generate data to obtain, support, or maintain an IND or BLA, or other similar marketing application. 

1.1.32. “Commercialization” and “Commercialize” means all activities undertaken relating to the marketing,
promotion (including advertising, detailing, sponsored product or continuing medical education), any other offering for sale, distribution or sale of a product. 

1.1.33. “Commercially Reasonable Efforts” means (a) with respect to the efforts to be expended by a Party with respect to
an agreed objective, except as otherwise provided in clause (b), such reasonable, diligent and good faith efforts as such Party would normally use to accomplish a similar objective under similar circumstances taking into account the reasonable
allocation of such Party’s resources under the circumstances, and [**]. It is anticipated that the level of effort to be expended in the use of Commercially Reasonable Efforts will change over time, including to reflect changes in the status of
the Licensed Product and the countries (or markets) involved. For the avoidance of doubt, where a Party has an obligation to use Commercially Reasonable Efforts, the efforts of such Party and its Affiliates and sublicensees shall be considered in
determining whether such Party has satisfied such obligation. 
 1.1.34. “Confidential Information” has the meaning set
forth in Section 6.1. 
 1.1.35. “Continuing Party” means (a) in the case of termination of this Agreement by a
Party pursuant to Section 9.2 with respect to the license granted to such Party under Section 2.1, the Party not terminating the Agreement and (b) in the case of termination of this Agreement by a Party pursuant to Section 9.3,
Section 9.4 or Section 9.5 with respect to the license granted to the other Party under Section 2.1, such terminating Party. 

1.1.36. “Control” means with respect to any product, Patent or other tangible or intangible intellectual property right, the
possession (whether by ownership or license, other than licenses granted pursuant to this Agreement) by a Party or its Affiliate of the ability to grant to the other Party access to, ownership of, or a license or sublicense under, such product,
Patent, or other intellectual property without violating the terms of any agreement or other arrangement with any Third Party. 
 1.1.37.
“Cover,” “Covering,” “Covered,” or “Covers” means, as to any subject matter and a Patent, that, in the absence of a license granted under, or ownership of, such Patent, the making,
using, selling, offering for sale or importation of such subject matter would infringe such Patent or, as to a pending Patent, the making, using, selling, offering for sale, importation or other practice of such subject matter would infringe such
Patent if such Patent were to issue without modification, in each case, without regard to the validity or enforceability of such Patent. 

  
 4 

 1.1.38. “Develop” or “Development” means, with respect to
a product, all activities relating to non-clinical and preclinical testing and trials, clinical testing and trials, including Clinical Trials, toxicology testing, modification, optimization and animal efficacy
testing of pharmaceutical compounds, statistical analysis, publication and presentation of study results and reporting, preparation and submission to Regulatory Authorities with respect to such product. 

1.1.39. “Disclosing Party” has the meaning set forth in Section 6.1. 

1.1.40. “Dollars” or “$” means the legal currency of the United States. 

1.1.41. “Editas” means Editas Medicine, Inc. 

1.1.42. “EMA” means the European Medicines Agency, and any successor entity thereto. 

1.1.43. “Executive Officers” means the respective chief executive officers of Bio Palette and Beam. 

1.1.44. “Existing Confidentiality Agreement” has the meaning set forth in Section 6.5. 

1.1.45. “Exploit” means to research, make, have made, import, export, distribute, use, have used, sell, have sold or offer for
sale, including to Develop, Manufacture, Commercialize, register, modify, enhance, improve or otherwise dispose of. 
 1.1.46.
“FDA” means the U.S. Food and Drug Administration, and any successor entity thereto. 
 1.1.47. “Field”
means the treatment, diagnosis or prevention of any human diseases or conditions. 
 1.1.48. “First Commercial Sale” means,
with respect to a Licensed Product in a country, the first sale for end use or consumption of such Licensed Product in such country after receipt of all Regulatory Approvals for such Licensed Product in such country, excluding, however, any sale or
other distribution for use in a Clinical Trial. 
 1.1.49. “GAAP” means generally accepted accounting principles. 

1.1.50. “Governmental Authority” means any United States federal, state or local or any foreign government, or political
subdivision thereof, or any multinational organization or authority or any authority, agency, division, board or commission entitled to exercise any administrative, executive, judicial, legislative, police, regulatory or taxing authority or power,
any court or tribunal (or any department, bureau or division thereof), or any governmental arbitrator or arbitral body. 
 1.1.51.
“Harvard” means the President and Fellows of Harvard College. 

  
 5 

 1.1.52. “IND” means an investigational new drug application submitted to
the FDA pursuant to Part 312 of Title 21 of the U.S. Code of Federal Regulations, including any amendments thereto. References herein to IND shall include, to the extent applicable, any comparable filing(s) outside the U.S. for the investigation of
any product in any other country or group of countries (such as a clinical trial application in the European Union). 
 1.1.53. “IND
Acceptance” means, with respect to a product, the thirtieth (30th) day following filing of an IND by the FDA, or, if a clinical hold is placed on the IND during such 30-day period, the date that such clinical hold is lifted, or the acceptance of an IND in any equivalent Regulatory Authority in any other regulatory jurisdiction such that Clinical Trials may be initiated with
respect to such product. 
 1.1.54. “Indemnified Party” has the meaning set forth in Section 8.3. 

1.1.55. “Indemnifying Party” has the meaning set forth in Section 8.3. 

1.1.56. “Initiation” means, with respect to a Clinical Trial, the first dosing of the first subject in such Clinical Trial.

 1.1.57. “In-Licensor” means a Third Party that grants a license to a Party under
an Applicable In-License. 
 1.1.58. “JSC” has the meaning set forth in
Section 3.1. 
 1.1.59. “Know-How” shall mean any invention, discovery,
development, data, information, process, method, technique, trade secret, composition of matter, formulation, article of manufacture or other know-how, and any physical embodiments of any of the foregoing.

 1.1.60. “Kobe University” means Kobe University, a national university corporation organized under the Laws of Japan.

 1.1.61. “Law” means the applicable laws, rules and regulations, including any rules, regulations, guidelines or other
requirements of any Governmental Authorities (including any Regulatory Authorities) that may be in effect from time to time in any country or jurisdiction of the Territory. 

1.1.62. “License Expansion Date” means, on a Bio Palette Licensed Product-by-Bio Palette Licensed Product basis with respect to each Bio Palette Licensed Product for which Beam elects to expand the territory of the license granted to Bio Palette under clause (a) of
Section 2.1.2 for such Bio Palette Licensed Product to the entire Territory, the date of Beam’s written notice to Bio Palette of such election. 

1.1.63. “Licensed Product” means, with respect to Beam, a Beam Licensed Product and, with respect to Bio Palette, a Bio
Palette Licensed Product. 
 1.1.64. “Licensee” means, with respect to a Beam Licensed Product Commercialized by Beam or its
Affiliates, sublicensees or sublicensees’ Affiliates, Beam, and with respect to a Bio Palette Licensed Product Commercialized by Bio Palette or its Affiliates, sublicensees or sublicensees’ Affiliates, Bio Palette. 

  
 6 

 1.1.65. “Licensor” means, with respect to a Beam Licensed Product
Commercialized by Beam or its Affiliates, sublicensees or sublicensees’ Affiliates, Bio Palette, and with respect to a Bio Palette Licensed Product Commercialized by Bio Palette or its Affiliates, sublicensees or sublicensees’ Affiliates,
Beam. 
 1.1.66. “Losses” has the meaning set forth in Section 8.1. 

1.1.67. “Major Markets” means the United States, Japan, the United Kingdom, France, Germany, Italy and Spain. 

1.1.68. “Manufacture” or “Manufacturing” means all activities related to the manufacturing or having
manufactured of a product, or any ingredient thereof, including manufacturing for Development and Commercialization, labeling, packaging, in-process and finished product testing, release of such product or any
ingredient thereof, quality assurance activities related to manufacturing and release of such product, ongoing stability tests and regulatory activities related to any of the foregoing. 

1.1.69. “MGH” has the meaning set forth in Section 7.5.3. 

1.1.70. “Microbiome Field” means [**]. 

1.1.71. “Net Sales” means the gross amount billed or invoiced by or on behalf of a Party, its Affiliates, sublicensees and any
Affiliates of such sublicensees (in each case, the “Invoicing Entity”) or if not billed or invoiced the gross amount received by the Invoicing Entity, on sales, leases, uses or other transfers of Beam Licensed Products, in the case
of Beam as the applicable Party, or Bio Palette Licensed Products, in the case of Bio Palette as the applicable Party, less the following to the extent applicable with respect to such sales, leases or other transfers and not previously deducted from
the gross invoice price (in each case, determined and deducted in accordance with the standard accounting practices used by the applicable Party): 
  

	 	(a)	 customary trade, quantity or cash discounts to the extent actually allowed and taken; 

 

	 	(b)	 amounts actually repaid or credited by reason of rejection, return or recall of any previously sold, leased or
otherwise transferred Licensed Products; 

  

	 	(c)	 rebates granted or given; 

 

	 	(d)	 allowances for non-collectible receivables; 

 

	 	(e)	 customer freight charges that are paid by or on behalf of the Invoicing Entity; and 

 

	 	(f)	 to the extent separately stated on purchase orders, invoices or other documents of sale, any sales, value added
or similar taxes, custom duties or other similar governmental charges levied directly on the production, sale, transportation, delivery or use of a Licensed Product that are paid by or on behalf of the Invoicing Entity, but not including any tax
levied with respect to income; 

  
 7 

 provided that: 

 

	 	(i)	 in no event shall the aggregate amount of all deductions made pursuant to clauses (d) and (e) above in any
calendar quarter exceed [**] percent ([**]%) of Net Sales in such calendar quarter; 

  

	 	(ii)	 Net Sales shall not include (1) sales or other transfers of any Licensed Product used for Clinical Trials
or other research, or (2) donations for charity or compassionate use for which an Invoicing Entity does not receive consideration; 

  

	 	(iii)	 in any transfers of Licensed Products between an Invoicing Entity and an Affiliate or sublicensee of such
Invoicing Entity not for the purpose of resale by such Affiliate or sublicensee, Net Sales shall be equal to the fair market value of the Licensed Products so transferred, assuming an arm’s length transaction made in the ordinary course of
business; 

  

	 	(iv)	 in the event that (1) an Invoicing Entity receives non-cash
consideration for any Licensed Products, (2) an Invoicing Entity sells Licensed Products in a transaction not at arm’s length with a non-Affiliate of an Invoicing Entity, or (3) any Licensed
Product is sold by an Invoicing Entity at a discounted price that is substantially lower than the customary prices charged by such Invoicing Entity, Net Sales shall be calculated based on the fair market value of such consideration or transaction,
assuming an arm’s length transaction made in the ordinary course of business, provided that, if a Licensed Product is sold under circumstances in which the discounted price is the result of market forces and not a quid pro quo for value
other than the monetary consideration charged in such sale of Licensed Product, such discounted price shall be deemed to be a customary price; 

  

	 	(v)	 with respect to any provision hereof requiring a calculation of fair market value, assuming an arm’s
length transaction made in the ordinary course of business, the Invoicing Entity may use the average price of the relevant Licensed Product sold for cash during the relevant period in the relevant country; and 

 

	 	(vi)	 sales of Licensed Products by an Invoicing Entity to its Affiliate or a sublicensee for resale by such
Affiliate or sublicensee shall not be deemed Net Sales. Instead, Net Sales shall be determined based on the gross amount billed or invoiced by such Affiliate or sublicensee upon resale of such Licensed Products to any third party that is not an
Affiliate or sublicensee of the Invoicing Entity. 

  
 8 

 1.1.72. “Non-Breaching Party” has
the meaning set forth in Section 9.3. 
 1.1.73. “Non-Challenging Party” has
the meaning set forth in Section 9.4. 
 1.1.74. “Non-Continuing Party” means
(a) in the case of termination of this Agreement by a Party pursuant to Section 9.2 with respect to the license granted to such Party under Section 2.1, such terminating Party and (b) in the case of termination of this Agreement
by a Party pursuant to Section 9.3, Section 9.4 or Section 9.5 with respect to the license granted to the other Party under Section 2.1, the Party not terminating the Agreement. 

1.1.75. “Pass-Through Amount” has the meaning set forth in Section 4.8. 

1.1.76. “Patent” means (a) all patents and patent applications in any country or supranational jurisdiction in the
Territory, (b) any substitutions, divisionals, continuations, continuations-in-part, provisional applications, reissues, renewals, registrations, confirmations, re-examinations, extensions, supplementary protection certificates and the like of any such patents or patent applications, (c) foreign counterparts of any of the foregoing, (d) all applications claiming
priority to any of the foregoing, (e) any patents issuing on any patent application identified in clauses (a) through (e), (f) any application to which any of the foregoing claim priority and (g) any application that claims common
priority with any of the foregoing. 
 1.1.77. “Patent-Based Exclusivity” means, (a) with respect to a Beam Licensed
Product in a country in the Territory, that at least one Valid Claim of the Bio Palette Patents Covers such Beam Licensed Product in such country and (b) with respect to a Bio Palette Licensed Product in a country in the Territory, that at
least one Valid Claim of the Beam Patents Covers such Bio Palette Licensed Product in such country. 
 1.1.78. “Patent
Challenge” means any direct or indirect dispute or challenge, or any knowing, willful or reckless assistance in the dispute or challenge, of the validity, patentability, scope, priority, construction,
non-infringement, inventorship, ownership or enforceability of any Patent or any claim thereof, or opposition or assistance in the opposition of the grant of any letters patent, in any legal or administrative
proceedings, including in a court of law, before the United States Patent and Trademark Office or other agency or tribunal in any jurisdiction, or in arbitration including by reexamination, inter partes review, opposition, interference,
post-grant review, nullity proceeding, preissuance submission, third party submission, derivation proceeding or declaratory judgment action, in each case, (a) in the case of Beam, with respect to any Bio Palette Patent or (b) in the case
of Bio Palette, with respect to any Beam Patent; provided, however, that the term Patent Challenge shall not include (i) a Party or any of its Affiliates or sublicensees being an essential party in any patent interference
proceeding before the United States Patent and Trademark Office, which interference such Party or its applicable Affiliate or sublicensee acts in good faith to try to settle or (ii) a Party or any of its Affiliates or sublicensees, due to its
status as an exclusive licensee of patent rights other than those licensed to such Party under Section 2.1.1 or Section 2.1.2, as applicable, being named by the licensor of such patent rights as a real party in

  
 9 

 
interest in such an interference, so long as such Party or its applicable Affiliate or sublicensee either abstains from participation in, or acts in good faith to settle, the interference. For
clarity, a Patent Challenge shall not include arguments made by a Party that (x) distinguish the inventions claimed in any Patents Controlled by such Party from those claimed in the Patents licensed to such Party under Section 2.1.1 or
Section 2.1.2, as applicable, but (y) do not disparage the Patents licensed to such Party under Section 2.1.1 or Section 2.1.2, as applicable, or raise any issue of such Patents’ compliance with or sufficiency under
applicable patent laws, regulations or administrative rules, in each case, (1) in the ordinary course of ex parte prosecution of Patents Controlled by such Party or (2) in inter partes proceedings before the United States
Patent and Trademark Office or other agency or tribunal in any jurisdiction (excluding interferences or derivation proceedings), or in arbitration, wherein Patents Controlled by such Party have been challenged. 

1.1.79. “Person” means any individual, incorporated or unincorporated organization or association, Governmental Authority, or
other entity. 
 1.1.80. “Phase 1 Clinical Trial” means any Clinical Trial as described in 21 C.F.R. §312.21(a), or,
with respect to a jurisdiction other than the United States, a similar Clinical Trial. 
 1.1.81. “Phase 2 Clinical Trial”
means any Clinical Trial as described in 21 C.F.R. §312.21(b), or, with respect to a jurisdiction other than the United States, a similar Clinical Trial. 

1.1.82. “Phase 3 Clinical Trial” means any Clinical Trial as described in 21 C.F.R. §312.21(c), or, with respect to a
jurisdiction other than the United States, a similar Clinical Trial. 
 1.1.83. “Receiving Party” has the meaning set forth
in Section 6.1. 
 1.1.84. “Regulatory Approval” means the approval, license or authorization of the applicable
Regulatory Authority for the marketing and sale of a product for a particular indication in a country in the Territory. 
 1.1.85.
“Regulatory Authority” means the FDA in the U.S. or any health regulatory authority in another country in the Territory that is a counterpart to the FDA and holds responsibility for granting Regulatory Approval in such country,
including the EMA and any successor(s) thereto. 
 1.1.86. “Regulatory Exclusivity” means any exclusive marketing rights or
data exclusivity rights conferred by any Regulatory Authority with respect to a Licensed Product, other than Patents, that limits or prohibits a Person from (a) relying on pivotal safety or efficacy data generated by or on behalf of the Parties
with respect to the Licensed Product in an application for Regulatory Approval of an Abbreviated Approval Product, or (b) Commercializing the Licensed Product or an Abbreviated Approval Product, including rights conferred in the U.S. under the
Hatch Waxman Act or the FDA Modernization Act of 1997 (including pediatric exclusivity, orphan drug exclusivity, or rights similar thereto outside the U.S.). 

1.1.87. “Regulatory Materials” means regulatory applications, submissions, notifications, registrations, marketing
authorizations or other written materials, correspondence, submissions made to or with a Regulatory Authority that are necessary or reasonably desirable in order to Develop, Manufacture or Commercialize the Licensed Products in the Field in a
particular country. 

  
 10 

 1.1.88. “ROW Territory” means all countries of the world excluding the Asia
Territory. 
 1.1.89. “Royalty Term” means, as to a Licensed Product and a country, the period commencing on the First
Commercial Sale of the relevant Licensed Product in the relevant country and expiring on a country-by-country basis and Licensed Product-by-Licensed Product basis on the later of (i) the expiration of Patent-Based Exclusivity with respect to such Licensed Product in such country and (ii) the expiration of Regulatory
Exclusivity with respect to such Licensed Product in such country. 
 1.1.90. “Term” has the meaning set forth in
Section 9.1. 
 1.1.91. “Territory” means worldwide. 

1.1.92. “Third Party” means any Person other than Bio Palette, Beam or any Affiliate of either Party. 

1.1.93. “Valid Claim” means (a) a claim of an issued patent in the U.S. or in a jurisdiction outside the U.S., that has
not expired, lapsed, been cancelled or abandoned, or been dedicated to the public, disclaimed, or held unenforceable, invalid, or cancelled by a court or administrative agency of competent jurisdiction in an order or decision from which no appeal
has been or can be taken, including through opposition, reexamination, reissue or disclaimer, or (b) a claim of a pending patent application that is filed and being prosecuted in good faith and that has not been finally abandoned or finally
rejected and which has been pending for no more than [**] years from the date of filing of the earliest patent application to which such pending patent application claims priority. 

1.2. Interpretation. The captions and headings to this Agreement are for convenience only, and are to be of no force or effect in
construing or interpreting any of the provisions of this Agreement. Unless specified to the contrary, references to Sections or Exhibits shall refer to the particular Sections or Exhibits of or to this Agreement and references to this Agreement
include all Exhibits hereto. Unless context otherwise clearly requires, whenever used in this Agreement: 
 1.2.1. any definition of or
reference to any agreement, instrument or other document refers to such agreement, instrument other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or
modifications set forth herein or therein), 
 1.2.2. any reference to any Law refers to such Law as from time to time enacted, repealed or
amended, 
 1.2.3. the words “include” or “including” shall be construed as incorporating, also, “but not limited
to” or “without limitation;” 

  
 11 

 1.2.4. the word “day,” “quarter” or “year” (and derivatives
thereof, e.g., “quarterly”) means a calendar day, calendar quarter or calendar year unless otherwise specified (and “annual” or “annually” refer to a calendar year); 

1.2.5. the word “notice” means notice in writing (whether or not specifically stated) and shall include notices, consents, approvals
and other written communications contemplated under this Agreement; 
 1.2.6. the word “hereof,” “herein,”
“hereby” and derivative or similar word refers to this Agreement (including any Exhibits); 
 1.2.7. the word “or” shall
have its inclusive meaning identified with the phrase “and/or;” 
 1.2.8. the words “will” and “shall” shall
have the same obligatory meaning; 
 1.2.9. provisions that require that a Party or the Parties hereunder “agree,”
“consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter, approved minutes or otherwise; 

1.2.10. words of any gender include the other gender; and 

1.2.11. words using the singular or plural number also include the plural or singular number, respectively. 

ARTICLE 2 
 LICENSE AND
OPTIONS 
 2.1. License Grants. 

2.1.1. Exclusive License to Beam. Subject to the terms and conditions of this Agreement, Bio Palette hereby grants to Beam an exclusive
(even as to Bio Palette and its Affiliates) right and license, with the right to grant sublicenses subject to Section 2.2, under the Bio Palette Patents (a) to Exploit Beam Licensed Products (i) in the Field in the ROW Territory,
subject to Bio Palette’s retained right to Develop and Manufacture Beam Licensed Products in the Microbiome Field in the ROW Territory for the sole purpose of Exploiting such Beam Licensed Products in the Asia Territory, (ii) in the Beam
Field in the Asia Territory and (b) to Develop and Manufacture Beam Licensed Products in the Microbiome Field in the Asia Territory for the sole purpose of Exploiting such Beam Licensed Products in the ROW Territory. 

2.1.2. Exclusive License to Bio Palette. Subject to the terms and conditions of this Agreement, Beam hereby grants to Bio Palette an
exclusive (even as to Beam and its Affiliates) right and license, with the right to grant sublicenses subject to Section 2.2, under the Beam Patents (a) to Exploit Bio Palette Licensed Products in the Microbiome Field in the Asia
Territory, subject to Beam’s retained right to Develop and Manufacture Bio Palette Licensed Products in the Microbiome Field in the Asia Territory for the sole purpose of Exploiting such Bio Palette Licensed Products in the ROW Territory, and
(b) to Develop and Manufacture Bio Palette Licensed Products in the Microbiome Field in the ROW Territory for the sole purpose of 

  
 12 

 
Exploiting such Bio Palette Licensed Products in the Asia Territory. Notwithstanding the foregoing, on a Bio Palette Licensed
Product-by-Bio Palette Licensed Product basis, Beam may elect, in its sole discretion, by written notice to Bio Palette, to expand the territory of the license granted
under the foregoing clause (a) for such Bio Palette Licensed Product to the entire Territory, in which case, subject to each Party’s respective obligation to pay for the percentage of milestone payments accruing on or after the License
Expansion Date with respect to a Bio Palette Licensed Product as set forth in Section 2.7.4, (i) such license grant shall automatically be expanded to include the entire Territory, (ii) Beam shall no longer have a retained right to Develop
and Manufacture such Bio Palette Licensed Product in the Microbiome Field in the Asia Territory and (iii) Beam shall no longer have a right to Exploit such Bio Palette Licensed Product in the Microbiome Field in the ROW Territory. 

2.2. Sublicensing Rights. 

2.2.1. Each Party shall have the right to grant sublicenses under the rights granted to it under Section 2.1.1 or Section 2.1.2, as
applicable, to any of its Affiliates or Third Parties. The sublicensing Party shall provide the other Party with a fully-executed copy of any agreement (which the sublicensing Party may redact as necessary to protect confidential or commercially
sensitive information) reflecting any such sublicense promptly after the execution thereof. If the sublicensing Party grants a sublicense, the terms and conditions of this Agreement and the Applicable
In-Licenses that are applicable to sublicensees shall apply to such sublicensee to the same extent as they apply to the sublicensing Party. The sublicensing Party assumes full responsibility, and shall remain
primarily liable, for causing the performance of all obligations of each Affiliate or Third Party sublicensee to which it grants a sublicense, and will itself pay and account to the other Party for all payments due under this Agreement by reason of
operation of any such sublicense. 
 2.2.2. Notwithstanding the foregoing, with respect to any Beam Patent Controlled by Beam pursuant to the
Beam-Editas Agreement, (a) Bio Palette shall promptly notify Beam if Bio Palette intends to grant a sublicense under the rights granted to it under Section 2.1.2 with respect to such Beam Patent so that Beam may seek permission from Editas
for such grant and, (b) unless and until the receipt of written agreement by Editas and its licensors to permit further sublicensing to a Third Party, Bio Palette shall not have the right to grant any sublicenses under such Beam Patent (other
than to Affiliates of Bio Palette, subject to all restrictions on the granting of sublicenses herein). 
 2.2.3. If, at any time during the
Term, Beam desires to grant a sublicense to a Third Party under the rights granted to it under Section 2.1.1, and Bio Palette has not yet entered into an amendment to the Bio Palette In-License as
contemplated by Section 7.4.7, then upon Beam’s request, Bio Palette shall, and does hereby, grant, without further consideration from Beam or such Third Party, a direct license to such Third Party as Beam directs, of a scope requested by
Beam that is within the scope of Beam’s license granted under Section 2.1.1, provided that any sale or transfer of Beam Licensed Products by such direct licensee under such direct license shall be included in Net Sales hereunder.
Notwithstanding anything to the contrary in this Agreement, effective as of such grant of a direct license to such Third Party, (i) if Beam has requested that such direct license to such Third Party be an exclusive license, then the scope of
the license granted to such Third Party under such direct license shall automatically be excluded from the scope of 

  
 13 

 
Beam’s license granted under Section 2.1.1 and (ii) if Beam has requested that such direct license to such Third Party be a non-exclusive
license, then the scope of Beam’s license granted under Section 2.1.1 shall automatically become non-exclusive with respect to the scope of the license granted to such Third Party under such direct
license, in each case of clause (i) and (ii) until such time that Beam notifies Bio Palette that such direct license to such Third Party is terminated, at which time such scope shall again be included within the scope of Beam’s license
granted under Section 2.1.1 with no further action by the Parties. 
 2.3. No Implied Licenses; Reservation of Rights. Except as
explicitly set forth in this Agreement, neither Party shall acquire under this Agreement any license, intellectual property interest or other rights, by implication or otherwise, under any Patents or other intellectual property rights Controlled by
the other Party or its Affiliates. Any rights of a Party not expressly granted to the other Party pursuant to this Agreement shall be retained by such first Party. 

2.4. Coordination in the Microbiome Field. If, during the Term, either Party Exploits a Licensed Product in the Microbiome Field under
the license granted under Section 2.1.1 or Section 2.1.2, respectively, such Party may provide written notice of such Licensed Product to the other Party indicating a desire to engage in the discussions described in this Section 2.4.
In the event of any such notice with respect to any such Licensed Product Exploited by Bio Palette in the Microbiome Field in the Asia Territory, [**]. If Beam determines not to Exploit such Licensed Product in the Microbiome Field in the ROW
Territory, then, with Beam’s prior written consent, and without limiting Beam’s obligations under Section 2.7.4, [**]. In the event of any such notice with respect to any such Licensed Product Exploited by Beam in the Microbiome Field
in the ROW Territory, [**]. If Bio Palette determines not to Exploit such Licensed Product in the Microbiome Field in the Asia Territory, then, with Bio Palette’s prior written consent, [**]. 

2.5. Right of First Negotiation. 

2.5.1. Beam ROFN. If, at any time during the Term, Bio Palette Controls any Patent [**] other than the Bio Palette Patents and intends
to grant a license under such Patent [**], prior to entering into negotiations with any Third Party regarding any such license, Bio Palette shall provide notice to Beam identifying such Patent, and Beam shall have an exclusive right of first
negotiation for an exclusive license under such Patent to Exploit products [**]. Beam shall have [**] after receipt of each such notice from Bio Palette to provide Bio Palette notice that it desires to exercise such exclusive right of first
negotiation. If Beam provides such an exercise notice, the Parties will promptly commence good faith negotiations regarding the terms of an agreement providing for the grant of [**]. In the event that the Parties fail to reach agreement within [**]
from the date of Beam’s exercise notice with respect to such agreement, Bio Palette may [**]; provided that (i) Bio Palette may only [**], and (ii) Bio Palette shall not[**]. For the avoidance of doubt, if Bio Palette provides
notice to Beam for the field and territory described in either, but not both of, clause (a) or clause (b) of the first sentence of this Section 2.5.1 with respect to any Patent, then Beam’s right of first negotiation shall
continue to apply with respect to such Patent for the field and territory for which Bio Palette has not provided such notice. 

  
 14 

 2.5.2. Bio Palette ROFN. If, at any time during the Term, Beam Controls any Patent
[**] other than the Beam Patents and intends to grant a license under such Patent [**], prior to entering into negotiations with any Third Party regarding any such license, Beam shall provide notice to Bio Palette identifying such Patent, and Bio
Palette shall have an exclusive right of first negotiation for an exclusive license under such Patent to Exploit products [**]. Bio Palette shall have [**] after receipt of each such notice from Beam to provide Beam notice that it desires to
exercise such exclusive right of first negotiation. If Bio Palette provides such an exercise notice, the Parties will promptly commence good faith negotiations regarding the terms of an agreement providing for the grant of [**]. In the event that
the Parties fail to reach agreement within [**] from the date of Bio Palette’s exercise notice with respect to such agreement, Beam may [**]; provided that (a) Beam may only [**], and (b) Beam shall not [**]. For the avoidance
of doubt, if Beam provides notice to Bio Palette for the field and territory described in either, but not both of, clause (a) or clause (b) of the first sentence of this Section 2.5.2 with respect to any Patent, then Bio
Palette’s right of first negotiation shall continue to apply with respect to such Patent for the field and territory for which Beam has not provided such notice. 

2.6. Rights Upon Bankruptcy. All rights and licenses granted under or pursuant to this Agreement are, and shall otherwise be deemed to
be, for purposes of Section 365(n) of Title 11 of the United States Code and other similar laws in any jurisdiction outside the U.S. (collectively, the “Bankruptcy Laws”), licenses of rights to “intellectual property”
as defined under the Bankruptcy Laws. If a case is commenced during the term of this Agreement by or against a Party under Bankruptcy Laws then, unless and until this Agreement is rejected as provided in such Bankruptcy Laws, such Party (in any
capacity, including debtor-in-possession) and its successors and assigns (including a trustee) shall perform all of the obligations provided in this Agreement to be
performed by such Party. If a case is commenced during the term of this Agreement by or against a Party under the Bankruptcy Laws, this Agreement is rejected as provided in the Bankruptcy Laws and the other Party elects to retain its rights
hereunder as provided in the Bankruptcy Laws, then the Party subject to such case under the Bankruptcy Laws (in any capacity, including debtor-in-possession) and its
successors and assigns (including a Title 11 trustee), shall provide to the other Party copies of all information necessary for such other Party to prosecute, maintain and enjoy its rights under the terms of this Agreement promptly upon such other
Party’s written request therefor. All rights, powers and remedies of the non-bankrupt Party as provided herein are in addition to and not in substitution for any and all other rights, powers and remedies
now or hereafter existing at law or in equity (including the Bankruptcy Laws) in the event of the commencement of a case by or against a Party under the Bankruptcy Laws. All payments owed by a Party to the other Party under Section 4.4 are, and
shall otherwise be deemed to be, for purposes of the Bankruptcy Laws, “royalties” as defined under the Bankruptcy Laws. 
 2.7.
Beam In-Licenses. 
 2.7.1. Notwithstanding anything to the contrary in this Agreement, Bio
Palette acknowledges and agrees that the rights, licenses, and sublicenses granted by Beam to Bio Palette in this Agreement (including any right to sublicense) are subject to the terms of the Beam In-Licenses,
the scope of the licenses granted to Beam thereunder and the rights retained by Third Parties (including Governmental Authorities) set forth therein, including (a) Sections 2.2, 2.3, 2.4, 4.12, 5.3, 9.4, 9.6.2 and 10.15 of the Beam-Editas
Agreement, (b) Sections 2.2, 2.4, 2.5, 4.5, 5.3, 6.4, 8.1, 9.1, 10.3, and 11.4 of the Beam-Harvard Agreement and (c) Sections 2.1.3, 2.4, 2.5, 2.6, 4.5, 5.1.1, 5.3, 6.5, 7.9, 8.1, 9.1, 10.2.3, 10.3.1, 10.3.2 and 11.5 of the Beam-Broad
Agreement. At Beam’s request, Bio Palette shall use Commercially Reasonable Efforts to, and cause its Affiliates and all sublicensees to use Commercially Reasonable Efforts to, take such actions as

  
 15 

 
may be required to assist Beam in complying with its obligations under the Beam In-Licenses, solely to the extent applicable to Bio Palette’s rights
or obligations under this Agreement. Without limiting any of the foregoing, Bio Palette agrees to be bound by the terms and conditions of the provisions set forth in Schedule 2.7.1, as applicable, with respect to sublicenses granted by Beam
to Bio Palette under Section 2.1.2 under the Beam In-Licenses. 
 2.7.2. Bio Palette
acknowledges and agrees that, if any of the licenses granted by Beam to Bio Palette under the Beam In-Licenses are terminated, in whole or in part, then Bio Palette’s license under such terminated
licenses(s) shall automatically terminate, subject to any right of Bio Palette to receive a direct license from the relevant Third Party, including under Section 9.6.2 of the Beam-Editas Agreement, Section 10.3.1 of the Beam-Harvard
Agreement or Section 10.3.1 of the Beam-Broad Agreement. 
 2.7.3. Except as expressly set forth in Section 2.7.4, Bio Palette
shall be responsible for any payments owed to a Third Party by Beam or its Affiliates under a Beam In-License arising out of the Development, Manufacturing or Commercialization of a Bio Palette Licensed
Product under this Agreement by Bio Palette or its Affiliates, sublicensees or sublicensees’ Affiliates (including, by way of illustration only, a royalty or milestone payment payable under such Beam
In-License). Any payment owed by Bio Palette under this Section 2.7.3 shall be made by Bio Palette to Beam within [**] days after Bio Palette’s receipt of an invoice from Beam. 

2.7.4. [**]. 
 2.8. Bio Palette
In-License. 
 2.8.1. Notwithstanding anything to the contrary in this Agreement, Beam
acknowledges and agrees that the rights, licenses, and sublicenses granted by Bio Palette to Beam in this Agreement (including any right to sublicense) are subject to the terms of the Bio Palette In-License,
the scope of the licenses granted to Bio Palette thereunder and the rights retained by Third Parties (including Governmental Authorities) set forth therein, including but not limited to Article 1, Item 8 of the Bio Palette In-License. At Bio Palette’s request, Beam shall use Commercially Reasonable Efforts to, and cause its Affiliates and all sublicensees to use Commercially Reasonable Efforts to, take such actions as may be
required to assist Bio Palette in complying with its obligations under the Bio Palette In-License, solely to the extent applicable to Beam’s rights or obligations under this Agreement. 

2.8.2. Beam acknowledges and agrees that, if any of the licenses granted by Bio Palette to Beam under the Bio Palette In-License are terminated, in whole or in part, then Beam’s license under such terminated licenses(s) shall automatically terminate. 

2.8.3. Beam shall be responsible for any payments owed to a Third Party by Bio Palette or its Affiliates under the Bio Palette In-License arising out of the Development, Manufacturing or Commercialization of a Beam Licensed Product under this Agreement by Beam or its Affiliates, sublicensees or sublicensees’ Affiliates (including, by
way of illustration only, a royalty or milestone payment payable under the Bio Palette In-License). Any payment owed by Beam under this Section 2.8.3 shall be made by Beam to Bio Palette within [**] days
after Beam’s receipt of an invoice from Bio Palette. 

  
 16 

 2.8.4. In the event that Bio Palette does not make payment of all amounts required to renew
the Bio Palette In-License at least [**] days prior to the expiration of any license period thereunder in accordance with Section 7.4.3, Beam shall have the right, but not the obligation, to make such
payment on Bio Palette’s behalf in order to cause the Bio Palette In-License to remain in effect. For the avoidance of doubt, it is understood that any such payment by Beam on behalf of Bio Palette shall
not establish any direct contractual relationship between Beam and Kobe University. 
 2.8.5. If Bio Palette notifies Beam under
Section 7.4.4 of any breach of the Bio Palette In-License, Beam shall have the right, but not the obligation, to cure such breach on Bio Palette’s behalf in order to cause the Bio Palette In-License to remain in effect. For the avoidance of doubt, it is understood that any such cure undertaken by Beam on behalf of Bio Palette shall not establish any direct contractual relationship between Beam and
Kobe University. 
 ARTICLE 3 

DEVELOPMENT AND COMMERCIALIZATION 

3.1. Joint Steering Committee. Promptly following the Effective Date, the Parties will form a joint steering committee (the
“JSC”) that will be responsible for facilitating discussions between the Parties under this Agreement regarding business development and strategy, Base Editing technology and related intellectual property. The Parties will each
designate up to [**] representatives to serve as members of the JSC by written notice to the other Party. Either Party may designate substitutes for its representatives if one or more of such Party’s designated representatives are unable to be
present at a meeting. From time to time each Party may replace any of its representatives, in its sole discretion, effective upon written notice to the other Party. Each Party’s representatives will have appropriate technical credentials,
experience and knowledge with respect to the matters under discussion at the JSC. The JSC will meet at such times and in such places (or by teleconference) as mutually agreed by the Parties. The JSC may make recommendations to the Parties with
respect to the matters under discussion, but will not have any decision-making authority. 
 3.2. Beam Scientific Advisory Board. In
furtherance of the collaborative relationship between the Parties, during the period starting on the date on which Beam forms its Scientific Advisory Board and ending on the fifth (5th)
anniversary of the Effective Date, each of [**] and [**] will be offered positions as members of Beam’s Scientific Advisory Board (which Beam may or may not constitute in its discretion), on terms consistent with the other members of such
Scientific Advisory Board. Notwithstanding anything to the contrary in this Agreement, in no event will Beam be obligated to share with Bio Palette or its representatives any material non-public technical
information or other information that may cause Beam to become subject to a filing requirement under any rules or regulations promulgated by CFIUS or other similar Laws. 

  
 17 

 3.3. Japan Activities. 

3.3.1. Beam acknowledges that Bio Palette possesses certain unique and valuable experience and expertise with respect to the Field in the Japan
market, including in particular with respect to Base Editing in the Japan market, and that access to such experience and expertise is of great value to Beam. In order to strengthen the competitive position of both Parties, the Parties intend to
[**]. Accordingly, upon Beam’s written request to Bio Palette from time to time during the Term, Bio Palette agrees to [**]. Each Party will reasonably communicate with the other regarding potential collaborations in Base Editing in Japan,
provided that nothing in this Section 3.3.1 shall limit either Party’s right to determine its sublicensing strategy in its sole discretion, subject to Section 2.2, with respect to the rights licensed to such Party under
Section 2.1.1 or Section 2.1.2, as applicable. Beam will [[**], provided that [**]. 
 3.3.2. Bio Palette may propose to
Beam an establishment of a collaboration between Beam, Bio Palette and a pharmaceutical company headquartered in Japan to develop products in the Beam Field in Japan. Beam will consider in good faith any such proposal by Bio Palette, unless (a)
[**], or (b) [**]. Beam shall [**]; provided, however, that, if Beam [**]. 
 3.4. Diligence. 

3.4.1. Beam Diligence. Beam shall use Commercially Reasonable Efforts (a) to Develop one (1) Beam Licensed Product in the
Major Markets and (b) with respect to any Beam Licensed Product that has received Regulatory Approval (i) in the Field in a country in the ROW Territory or (ii) in the Beam Field in a country in the Asia Territory, to Commercialize
such Beam Licensed Product in such country. 
 3.4.2. Bio Palette Diligence. Bio Palette shall use Commercially Reasonable Efforts
(a) to Develop [**] Bio Palette Licensed Product in Japan and (b) with respect to any Bio Palette Licensed Product that has received Regulatory Approval in the Microbiome Field in a country in the Asia Territory, to Commercialize such Bio
Palette Licensed Product in such country. 
 3.5. Progress Reports. Each Party shall provide a written report to the other Party on an
[**] basis, beginning on the [**] anniversary of the Effective Date, which report reasonably summarizes such Party’s exercise of Commercially Reasonable Efforts under Section 3.4.1 or Section 3.4.2, as applicable. 

3.6. Regulatory Activities. 

3.6.1. Beam. Beam shall have the sole right and responsibility to prepare and file for Regulatory Approval and otherwise obtain and
maintain approvals from Regulatory Authorities that are necessary for Exploitation of the Beam Licensed Products (a) in the Field in the ROW Territory, except with respect to Bio Palette Licensed Products in the Microbiome Field in a case where Beam
elects to expand the territory of the license granted for such Bio Palette Licensed Product to the entire Territory in accordance with Section 2.1.2, and (b) in the Beam Field in the Asia Territory, and otherwise interact with Regulatory Authorities
in the Territory as appropriate with respect to the Beam Licensed Products. Beam will own all such Regulatory Approvals and other Regulatory Materials for the Beam Licensed Products (i) in the Field in the ROW Territory, except with respect to Bio
Palette Licensed Products in the Microbiome Field in a case where Beam elects to expand the territory of the license granted for such Bio Palette Licensed Product to the entire Territory in accordance with Section 2.1.2, and (ii) in the
Beam Field in the Asia Territory. 

  
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 3.6.2. Bio Palette. Bio Palette shall have the sole right and responsibility to
prepare and file for Regulatory Approval and otherwise obtain and maintain approvals from Regulatory Authorities that are necessary for Exploitation of the Bio Palette Licensed Products (a) in the Microbiome Field in the Asia Territory and
(b) in the Microbiome Field in the Territory for a Bio Palette Licensed Product for which Beam elects to expand the territory of the license granted to Bio Palette to the entire Territory in accordance with Section 2.1.2, and
otherwise interact with Regulatory Authorities in the Asia Territory as appropriate with respect to the Bio Palette Licensed Products in the Microbiome Field. Bio Palette will own all such Regulatory Approvals and other Regulatory Materials for the
Bio Palette Licensed Products (a) in the Microbiome Field in the Asia Territory and (b) in the Microbiome Field in the Territory for a Bio Palette Licensed Product for which Beam elects to expand the territory of the license granted to Bio
Palette to the entire Territory in accordance with Section 2.1.2. 
 ARTICLE 4 

COMPENSATION 
 4.1.
Upfront Payment. In partial consideration for the rights granted by Bio Palette to Beam hereunder Beam shall pay Bio Palette a one-time, non-refundable, non-creditable payment of Five Hundred Thousand Dollars ($500,000) within [**] Business Days of the Effective Date. 

4.2. Additional Upfront Payment. If Bio Palette Patent [**] issues in the United States, then, in partial consideration for the rights
granted by Bio Palette to Beam hereunder with respect to such Bio Palette Patent, Beam shall pay Bio Palette a one-time, non-refundable,
non-creditable payment of [**] within [**] of the date that such Bio Palette Patent issues. 
 4.3.
Equity Issuance. In partial consideration for the rights granted by Bio Palette to Beam hereunder, within [**] Business Days of the Effective Date, Beam shall issue to Bio Palette, 75,000 shares of Beam Common Stock. In addition, if Bio
Palette Patent[**] issues in the United States, then, in partial consideration for the rights granted by Bio Palette to Beam hereunder with respect to such Bio Palette Patent, within [**] of the date that such Bio Palette Patent issues, Beam shall
issue to Bio Palette, [**] of Beam Common Stock. In connection with and as a condition to the issuance of shares pursuant to this Section 4.3, Bio Palette shall execute a subscription agreement and such other agreements, including a voting
agreement and right of first refusal and co-sale agreement, as may be reasonably requested by Beam. 

4.4. Royalties. Beam shall pay to Bio Palette royalties on Net Sales of Beam Licensed Products by Beam and its Affiliates, sublicensees
and sublicensees’ Affiliates, and Bio Palette shall pay to Beam royalties on Net Sales of Bio Palette Licensed Products by Bio Palette and its Affiliates, sublicensees and sublicensees’ Affiliates, in each case, on a Licensed Product-by-Licensed Product and country-by-country basis during the applicable Royalty Term, at
a royalty rate equal to [**]%. For the avoidance of doubt, (a) royalties shall be payable on Net Sales of a Beam Licensed Product by Beam and its Affiliates, sublicensees and sublicensees’ Affiliates in a country after a Valid Claim of a
Bio Palette Patent Covers such Beam Licensed Product in such country after the First Commercial Sale of such Beam Licensed Product even if such Beam Licensed Product was not Covered by a Valid Claim of a Bio Palette Patent [**] and
(b) royalties shall be payable on Net Sales of a Bio Palette Licensed Product by Bio Palette and its Affiliates, sublicensees and sublicensees’ Affiliates in a country [**]. 

  
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 4.5. Reports and Payment. During the Royalty Term for each Licensed Product, the
applicable Licensee shall provide written unaudited reports to the applicable Licensor within [**] days after the end of each [**] covering sales of Licensed Products on a
product-by-product, country-by-country basis in the Territory by such Licensee, its Affiliates, licensees, and sublicensees
during such [**]. Each such written report shall provide (a) the Net Sales in Dollars and local currency for each Licensed Product in the Territory during the reporting period; (b) the deductions (by deduction category) from gross amounts billed or
invoiced taken in calculating such Net Sales; (c) the royalties payable, in Dollars, which shall have accrued hereunder with respect to such Net Sales and (d) to the extent required under any Applicable In-License, the number of units of such
Licensed Product(s) sold during the reporting period. In addition, each such written report shall contain such additional information as reasonably requested by such Licensor in order to satisfy such Licensor’s reporting obligations to any
In-Licensor. The information contained in each report under this Section 4.5 shall be considered Confidential Information of such Licensee, provided that such Licensor may share such report with the In-Licensors as necessary to comply
with its obligations under the Applicable In-Licenses, subject to confidentiality and non-use restrictions at least as strict as those that apply to such Licensor’s confidential information under such Applicable In-License. Concurrent with the
delivery of each such report, such Licensee shall make the royalty payment due to such Licensor under Section 4.4 for the calendar quarter covered by such report. Each report to be delivered by a Licensee pursuant to this Section 4.5 shall be
certified in writing on behalf of such Licensee as true, correct and complete in all material respects with respect to the information required solely to the extent the applicable Licensor is required to certify in writing that such information is
true, correct and complete in a report delivered to an In-Licensor under an Applicable In-License. In addition, during the Royalty Term for each Licensed Product, within [**] days following the end of each [**], the applicable Licensee will provide
the applicable Licensor a preliminary non-binding good faith report estimating the total Net Sales of, and royalties payable to such Licensor for, such Licensed Product projected for such [**], provided that such Licensee will have no
liability as a result of any disparity between such reports and the reports delivered pursuant to the first sentence of this Section 4.5. 

4.6. Payment Method; Late Payments. Payments hereunder, other than payments made in Beam Common Stock pursuant to Section 4.3,
shall be paid by wire transfer, or electronic funds transfer (EFT) in immediately available funds to a bank account designated by the payee Party at least [**] days in advance of such payment. Royalties and any other payments required to be paid by
either Party pursuant to this Agreement shall, if overdue, bear interest until payment at a rate per annum equal to the lesser of the prime or equivalent rate per annum quoted by The Wall Street Journal (U.S. editions) on the
first Business Day after such payment is due, plus [**] percent ([**]%) or, if lower, the highest rate permitted by applicable Law, calculated on the number of days such payments are paid after such payments are due and compounded [**]. The payment
of such interest shall not restrict either Party from exercising any other rights it may have because any payment is overdue. 

  
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 4.7. Currency. All amounts payable and calculations hereunder shall be in Dollars.
Conversion of sales recorded in local currencies to Dollars will first be determined in the foreign currency of the country in which such Licensed Products are sold and then converted to Dollars at a ninety
(90)-day trailing average published by the Wall Street Journal (U.S. editions) for conversion of the foreign currency into Dollars on the last day of the quarter for which such payment is due. 

4.8. Taxes and Withholding. If a Licensee is required to deduct or withhold from any payment due to the applicable Licensor hereunder
any withholding taxes under the Laws or regulations of any jurisdiction or Governmental Authority, then such Licensee shall pay such withholding taxes to the applicable Governmental Authority and make the payment to such Licensor of the net amount
due after deduction or withholding of such taxes. Such withholding taxes shall be treated for all purposes of this Agreement as having been paid to such Licensor. The applicable Licensee shall submit reasonable proof of payment of the withholding
taxes within a reasonable period of time after such withholding taxes are remitted to the Governmental Authority. The Parties shall reasonably cooperate to eliminate or minimize any such withholding taxes. Notwithstanding the foregoing, if a
Licensee is required to deduct or withhold withholding taxes from any payment due hereunder that is required to be paid to an In-Licensor under an Applicable
In-License (a “Pass-Through Amount”), then the Pass-Through Amount shall be treated as a separate payment and such Pass-Through Amount shall be increased so that the net amount thereof payable
to the applicable Licensor, after the deduction of all withholding taxes directly related to such Pass-Through Amount, equals the Pass-Through Amount; provided, however, that such Licensor shall take all reasonable best efforts
necessary to obtain any lawful reductions or eliminations of such withholding taxes available under Law. The applicable Licensee shall submit reasonable proof of payment of any withholding taxes within a reasonable period of time after such
withholding taxes are remitted to the Governmental Authority. 
 4.9. Accounting. 

4.9.1. Each Licensee agrees to keep, and to require its Affiliates, licensees, and sublicensees to keep, full, clear and accurate records for a
minimum period of [**] years after the conclusion of the calendar year in which the relevant payment is owed pursuant to this Agreement, setting forth the sales and other disposition of Licensed Products sold or otherwise disposed of in sufficient
detail to enable royalties and compensation payable to the applicable Licensor hereunder to be determined. 
 4.9.2. Each Licensee further
agrees, upon not less than [**] days’ prior written notice, to permit, and to require its Affiliates, licensees, and sublicensees to permit, the books and records relating to a Licensed Product to be examined by an independent accounting firm
selected by the applicable Licensor for the purpose of verifying reports provided by such Licensee under this Agreement. Such audit shall not be performed more frequently than once in any [**]-month period or once with respect to any reporting
period, and shall be conducted under appropriate confidentiality provisions, for the sole purpose of verifying the accuracy and completeness of all financial, accounting and numerical information and calculations provided under this Agreement. The
independent accounting firm shall have reasonable access, on reasonable notice and during such Licensee’s normal business hours to individuals, records and responses to questions from auditors in a timely manner and have the right to make
copies of relevant portions of such Licensee’s books and records, provided that any such copies shall be the Confidential Information of such Licensee, shall be protected by appropriate confidentiality obligations and shall not be shared
with such Licensor or any other Person. 

  
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 4.9.3. Such examination is to be made at the expense of the applicable Licensor, except if
the results of the audit reveal an underpayment of royalties, milestones, or other payments to such Licensor under this Agreement of [**] percent ([**]) or more in any calendar year, in which case reasonable audit fees for such examination shall be
paid by the applicable Licensee. 
 ARTICLE 5 

INTELLECTUAL PROPERTY 

5.1. Ownership of Intellectual Property. As between the Parties, subject to the respective license grants under Section 2.1, Beam
shall own and retain all worldwide rights, title and interests in and to the Beam Patents and Bio Palette shall own and retain all worldwide rights, title and interests in and to the Bio Palette Patents. Any intellectual property arising out of
activities under this Agreement will, as between the Parties, be owned by the Party inventing such intellectual property. 
 5.2. Filing,
Prosecution and Maintenance of Patents. 
 5.2.1. Except as expressly set forth in this Section 5.2.1, as between the
Parties, Bio Palette shall have the sole right to file, prosecute and maintain the Bio Palette Patents, in its sole discretion. Solely with respect to Bio Palette Patent [**] (including the divisional application thereof), and subject to Bio
Palette’s obligations under the Bio Palette In-License, Bio Palette shall give Beam the opportunity to provide comments on and make requests of Bio Palette concerning the prosecution and maintenance of
such Patent and Bio Palette shall consider such comments and requests in good faith or, as applicable, provide such comments and requests to Kobe University under the Bio Palette In-License[**]. If, during the
Term, Bio Palette intends to abandon such Patent in a particular country, then Bio Palette will notify Beam of such intention at least [**] days before such Patent will become abandoned, and, subject to the terms of the Bio Palette In-License, Beam will have the right, but not the obligation, to assume responsibility for the prosecution and maintenance thereof with counsel of its own choice. Bio Palette shall take such actions as reasonably
requested by Beam, and shall otherwise reasonably cooperate with Beam, in connection with the transfer of such prosecution and maintenance responsibility to Beam. 

5.2.2. As between the Parties, Beam shall have the sole right to file, prosecute and maintain the Beam Patents, in its sole discretion. 

5.3. Enforcement of Patents. 

5.3.1. Beam shall give Bio Palette notice of any infringement of any Bio Palette Patents that may come to Beam’s attention, and Bio
Palette shall give Beam notice of any infringement of any Beam Patents that may come to Bio Palette’s attention. 

  
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 5.3.2. Subject to the terms of the Bio Palette
In-License, in the case of any infringement of a Bio Palette Patent [**] (including the divisional application thereof) by a Third Party that is developing or commercializing a product that is competitive with
a Licensed Product in the Field in the Territory (other than a Licensed Product in the Microbiome Field in the Asia Territory), Beam may request that Bio Palette initiate and prosecute a legal action to enforce such Bio Palette Patent against such
infringement, and the Parties shall discuss in good faith and strategize with respect to such possible legal action, provided that Bio Palette shall have the sole right, but not the obligation, to initiate and prosecute any such legal action
and shall have the final decision-making authority with respect thereto. 
 5.3.3. Subject to the terms of the Bio Palette In-License, in the case of any infringement of Bio Palette Patent [**] (including the divisional application thereof) by a Third Party that is developing or commercializing a product that is competitive with a
Licensed Product in the Field in the Territory (other than a Licensed Product in the Microbiome Field in the Asia Territory), Beam shall have the first right, but not the obligation, to initiate and prosecute any legal action to enforce such Bio
Palette Patent against such infringement at its own expense and in the name of Beam and, if requested by Beam, in the name of Bio Palette, or to control the defense of any declaratory judgment action relating to any such infringement. For any such
legal action, in the event that Beam is unable to initiate or prosecute such action solely in its own name, (a) Beam may request, at Beam’s expense, that Bio Palette join such action voluntarily and execute and cause its Affiliates to
execute all documents necessary for Beam to initiate litigation to prosecute and maintain such action, and Bio Palette will reasonably consider such request and (b) if necessary for Beam to initiate or prosecute such action solely in its own
name, Bio Palette will use reasonable efforts to cause Kobe University to join such action. Beam shall decide whether to initiate and prosecute any legal action to enforce such Bio Palette Patent against such infringement and shall notify Bio
Palette of its decision in writing within 90 days after Beam acknowledges such infringement. If Beam elects not to initiate and prosecute any legal action to enforce such Bio Palette Patent against such infringement, Bio Palette shall have the
right, but not the obligation, to initiate and prosecute any legal action to enforce such Bio Palette Patent against such infringement at its own expense. Each Party shall have the right to be represented by counsel of its own choice, at its own
expense. In connection with any such legal action, the Parties will cooperate fully and will provide each other with any information or assistance that either may reasonably request. Each Party shall keep the other Party reasonably informed of
developments in any such legal action, including, to the extent permitted under applicable Law, consultation on any settlement, the status of any settlement negotiations and the terms of any offer related thereto. 

5.3.4. Subject to the terms of the Beam In-Licenses, in the case of any infringement of a Beam Patent
by a Third Party that is developing or commercializing a product that is competitive with a Licensed Product in the Microbiome Field in the Asia Territory, Bio Palette may request that Beam initiate and prosecute a legal action to enforce such Beam
Patent against such infringement, and the Parties shall discuss in good faith and strategize with respect to such possible legal action, provided that Beam shall have the sole right, but not the obligation, to initiate and prosecute any such
legal action and shall have the final decision-making authority with respect thereto. 
 5.3.5. As between the Parties, except as otherwise
expressly set forth in this Section 5.3, each Party shall have the sole right, but not the obligation, to initiate and prosecute any legal action against an infringement of Patents owned or Controlled by such Party. 

  
 23 

 5.3.6. Any recovery obtained by a Party in connection with or as a result of any legal
action contemplated by Section 5.3.2, Section 5.3.3 or Section 5.3.4, whether by settlement or otherwise, shall be shared in order as follows: 
  

	 	(a)	 each Party shall recoup all of its costs and expenses incurred in connection with such legal action,
provided that, if such recovery is not sufficient for each Party recoup all such costs and expenses, the Parties shall be reimbursed pro rata for such costs and expenses; and 

 

	 	(b)	 the amount of any recovery remaining shall then be allocated between the Parties on a pro rata basis
taking into consideration the relative economic losses suffered by each Party. 

 5.4. Defense of Patents. 

5.4.1. As between the Parties, Bio Palette shall have the sole right to defend against any suits or actions initiated by a Third Party
challenging any Bio Palette Patents; [**]. Bio Palette shall provide Beam with an opportunity to review and comment on any filings or communications with respect to such suit or action with respect to such Bio Palette Patent, and to participate in
any proceedings with respect thereto through counsel of Beam’s choosing, at Beam’s sole expense. Bio Palette shall not settle any such suit or action with respect to such Bio Palette Patent without Beam’s prior written consent, not to
be unreasonably withheld, conditioned or delayed. 
 5.4.2. As between the Parties, Beam shall have the sole right to defend against any
suits or actions initiated by a Third Party challenging any Beam Patents. 
 5.5. Patent Term Restoration. The Parties agree to
cooperate and to take reasonable actions to maximize the protections available under the safe harbor provisions of 35 U.S.C. 103(c) for U.S. patents and patent applications; provided that, Beam shall have the sole right to apply for patent
term restoration or supplemental protection certificates or their equivalent with respect to the Beam Patents and Bio Palette shall have the sole right to apply for patent term restoration or supplemental protection certificates or their equivalent
with respect to the Bio Palette Patents. The Parties shall cooperate with each other, including to provide necessary information and assistance as the other Party may reasonably request, in obtaining patent term restoration or supplemental
protection certificates or their equivalents in any country in the Territory where applicable to Beam Patents or Bio Palette Patents. 

ARTICLE 6 

CONFIDENTIALITY 
 6.1.
Confidentiality; Exceptions. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing, the Parties agree that the receiving Party (the “Receiving Party”) shall keep confidential and shall not
publish or otherwise disclose or use for any purpose other than as provided for in this Agreement any confidential and proprietary information and materials, patentable or otherwise, in any form (written, oral, photographic, electronic, magnetic, or
otherwise) which is disclosed to it by the other Party (the “Disclosing  

  
 24 

 
Party”) or otherwise received or accessed by a Receiving Party in the course of performing its obligations or exercising its rights under this Agreement, including trade secrets, know-how, inventions or discoveries, proprietary information, formulae, processes, techniques or information relating to a Party’s past, present or future marketing, financial or Development activities with
respect to any product or potential product, or useful technology of the Disclosing Party or the pricing thereof (collectively, “Confidential Information”), except to the extent that it can be established by the Receiving Party that
such Confidential Information: 
 6.1.1. was in the lawful knowledge and possession of the Receiving Party prior to the time it was disclosed
to, or learned by, the Receiving Party, or was otherwise developed independently by the Receiving Party, as evidenced by written records kept in the ordinary course of business, or other documentary proof of actual use by the Receiving Party; 

6.1.2. was generally available to the public or otherwise part of the public domain at the time of its disclosure to the Receiving Party; 

6.1.3. became generally available to the public or otherwise part of the public domain after its disclosure and other than through any act or
omission of the Receiving Party in breach of this Agreement; or 
 6.1.4. was disclosed to the Receiving Party, other than under an
obligation of confidentiality, by a Third Party who had no obligation to the Disclosing Party not to disclose such information to others. 

6.2. Authorized Disclosure. Except as expressly provided otherwise in this Agreement, a Receiving Party may use and disclose
Confidential Information of the Disclosing Party as follows: (a) under appropriate confidentiality provisions similar to those in this Agreement, in connection with the performance of its obligations or exercise of rights granted or reserved in
this Agreement (including the rights to Develop and Commercialize Licensed Products and to grant sublicenses as permitted hereunder); or (b) to the extent such disclosure is reasonably necessary in filing or prosecuting patent, copyright and
trademark applications, prosecuting or defending litigation, complying with applicable governmental regulations, seeking and obtaining Regulatory Approval, conducting non-clinical activities or Clinical
Trials, preparing and submitting INDs to Regulatory Authorities, or is otherwise required by Law or the rules of a recognized stock exchange or automated quotation system applicable to such Party; provided, however, that if a Receiving
Party is required by Law to make any such disclosure of a Disclosing Party’s Confidential Information it will, except where impracticable, give reasonable advance notice to the Disclosing Party of such disclosure requirement and, if requested
by the Disclosing Party, cooperate with the Disclosing Party to secure confidential treatment of such Confidential Information required to be disclosed; or (c) in communication with existing or prospective investors, acquirers, consultants or
advisors, on a need-to-know basis, in each case under appropriate confidentiality provisions substantially equivalent to those of this Agreement; or (d) to the
extent mutually agreed to in writing by the Parties. 

  
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 6.3. Press Releases; Disclosure of Agreement; Publicity. The Parties shall reasonably
cooperate and mutually agree on an initial press release to be published jointly by the Parties regarding the execution of this Agreement. Neither Party shall issue or cause the publication of any other press release or public announcement regarding
the terms of this Agreement without the express prior approval of the other Party other than as required by Law or the rules of any stock exchange, provided that if any such publication, press release or public announcement is required by
Law, the Party obligated to make such publication, press release or public announcement shall, if practicable, notify the other Party in advance thereof and reasonably consider any timely comments from such other Party, including any reasonable
request to limit such publication, press release or public announcement. Upon Bio Palette’s reasonable request, Beam will reasonably participate in public relations efforts in Japan relating to the execution of this Agreement or the Patents
licensed under this Agreement. 
 6.4. Use of Names. Neither Party shall use the name, symbol, trademark, trade name or logo of the
other Party or its Affiliates or In-Licensors in any press release, publication or other form of public disclosure without the prior written consent of the other Party. 

6.5. Termination of Prior Agreement. This Agreement supersedes and replaces the Confidentiality Agreement by and between the Parties
dated as of May 1, 2018 (the “Existing Confidentiality Agreement”). All information exchanged between the Parties under the Existing Confidentiality Agreement shall be deemed Confidential Information of the respective
Disclosing Party hereunder and shall be subject to the terms of this Article 6. 
 6.6. Remedies. Each Party shall be entitled to
seek, in addition to any other right or remedy it may have, at Law or in equity, a temporary injunction, without the posting of any bond or other security, enjoining or restraining the other Party from any violation or threatened violation of this
Article 6. 
 ARTICLE 7 

REPRESENTATIONS, WARRANTIES AND COVENANTS 

7.1. Representations and Warranties of Both Parties. Each Party hereby represents and warrants to the other Party, as of the Effective
Date, that: 
 7.1.1. such Party is duly organized, validly existing and in good standing under the Laws of the jurisdiction of its
incorporation and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof; 
 7.1.2. such
Party has taken all necessary action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; 

7.1.3. this Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid, binding obligation,
enforceable against it in accordance with the terms hereof; 
 7.1.4. the execution, delivery and performance of this Agreement by such Party
does not conflict with any agreement or any provision thereof, or any instrument or understanding, oral or written, to which it is a party or by which it is bound, nor violate any law or regulation of any court, governmental body or administrative
or other agency having jurisdiction over such Party; and 

  
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 7.1.5. no authorization, consent, approval, license, exemption of or filing or registration
with any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, under any applicable Laws currently in effect, is or will be necessary for, or in connection with, the transactions contemplated by
this Agreement or any other agreement or instrument executed in connection herewith, or for the performance by it of its obligations under this Agreement and such other agreements except as may be required to conduct Clinical Trials or to seek or
obtain Regulatory Approvals. 
 7.2. Additional Representations and Warranties of Bio Palette. Bio Palette hereby represents and
warrants to Beam, as of the Effective Date that, except as Bio Palette has disclosed to Beam in Schedule 7.2: 
 7.2.1. Bio Palette is
the sole and exclusive owner of, or has Control via a license from the In-Licensors to, the Bio Palette Patents; 

7.2.2. Bio Palette has the right to grant all rights and licenses it purports to grant to Beam under this Agreement; 

7.2.3. Bio Palette has not granted any right or license to any Third Party relating to any of the Bio Palette Patents that conflicts or
interferes with any of the rights or licenses granted hereunder with respect to the Bio Palette Patents; 
 7.2.4. Bio Palette does not have
any rights under any Patents licensed to Bio Palette under the Bio Palette In-License, other than the Bio Palette Patents; 

7.2.5. To its knowledge, the Bio Palette Patents that have been issued as patents as of the Effective Date are valid and enforceable and Bio
Palette has complied (and, to its knowledge, Kobe University has complied) with all Laws and duties of candor with respect to the filing, prosecution and maintenance of the Bio Palette Patents. Bio Palette has paid (with respect to Bio Palette
Patents for which it is responsible for prosecution and maintenance) and, to Bio Palette’s knowledge, the In-Licensors have paid (with respect to Bio Palette Patents for which the In-Licensors are responsible for prosecution and maintenance) all maintenance and annuity fees with respect to the Bio Palette Patents due as of the Effective Date. Except as identified in Schedule 7.2, no
action or proceeding regarding inventorship of a Bio Palette Patent has been brought or threatened in writing; 
 7.2.6. It has not received
written notice of any claims, and there are no judgments or settlements against or owed by Bio Palette, or to the knowledge of Bio Palette, any pending or threatened claims or litigation, in each case relating to the Bio Palette Patents; 

7.2.7. Bio Palette has provided to Beam true and correct copies of the Bio Palette In-License in its
current form, which Bio Palette In-License is in full force and effect; Bio Palette is not in material breach and, to its knowledge, Kobe University is not in material breach of the Bio Palette In-License; and Bio Palette has not received any notice of breach of the Bio Palette In-License; 

  
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 7.2.8. Other than any amounts that may be due to Kobe University as a result of granting a
third party a non-exclusive sublicense to the Patents (as such term is defined in the Bio Palette In-License) pursuant to Section 3 and Section 4 of Article 5
(Licensing Fees) of the Bio Palette In-License, no payments will be owed to a Third Party by Bio Palette or its Affiliates under the Bio Palette In-License due to
Development, Manufacturing or Commercialization activities for a Beam Licensed Product under this Agreement; and 
 7.2.9. Kobe University is
not subject to a Third Party public or private funding agreement that would restrict Bio Palette’s right to grant sublicenses under the rights granted by Kobe University to Bio Palette under the Bio Palette
In-License. 
 7.3. Additional Representations and Warranties of Beam. Beam hereby represents
and warrants to Bio Palette, as of the Effective Date that, except as Beam has disclosed to Bio Palette in Schedule 7.3: 
 7.3.1.
Beam is the sole and exclusive owner of, or has Control via a license from the In-Licensors to, the Beam Patents; 

7.3.2. Beam has the right to grant all rights and licenses it purports to grant to Bio Palette under this Agreement; 

7.3.3. Beam has not granted any right or license to any Third Party relating to any of the Beam Patents that conflicts or interferes with any
of the rights or licenses granted hereunder with respect to the Beam Patents; 
 7.3.4. Beam does not have any rights under any Patents
licensed to Beam under the Beam In-Licenses, other than the Beam Patents, except for those Patents set forth on Schedule 7.3; 

7.3.5. To its knowledge, the Beam Patents that have been issued as patents as of the Effective Date are valid and enforceable and Beam has
complied (and, to its knowledge, the applicable In-Licensors have complied) with all Laws and duties of candor with respect to the filing, prosecution and maintenance of the Beam Patents. Beam has paid (with
respect to Beam Patents for which it is responsible for prosecution and maintenance) and, to Beam’s knowledge, the In-Licensors have paid (with respect to Beam Patents for which the In-Licensors are responsible for prosecution and maintenance) all maintenance and annuity fees with respect to the Beam Patents due as of the Effective Date. Except as identified in Schedule 7.3, no action or
proceeding regarding inventorship of a Beam Patent has been brought or threatened in writing; 
 7.3.6. It has not received written notice of
any claims, and there are no judgments or settlements against or owed by Beam, or to the knowledge of Beam, any pending or threatened claims or litigation, in each case relating to the Beam Patents; and 

7.3.7. Beam has provided to Bio Palette true and correct copies of all Beam In-Licenses in their
current form, which Beam In-Licenses are in full force and effect; Beam is not in material breach and, to its knowledge, none of the In-Licensors are in material breach
of the Beam In-Licenses; and Beam has not received any notice of breach of the Beam In-Licenses. 

  
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 7.4. Additional Covenants of Bio Palette. Bio Palette agrees that, during the Term:

 7.4.1. Bio Palette will, and will cause its Affiliates to, (i) perform and comply in all material respects with all terms and
conditions of the Bio Palette In-License, (ii) not enter into or amend any agreement with any Third Party, including Kobe University, which amendment or agreement materially adversely affects the rights
granted to Beam hereunder or Bio Palette’s ability to fully perform its obligations hereunder; and (iii) promptly furnish Beam with copies of all amendments to the Bio Palette In-License executed
following the Effective Date that directly relate to (A) the rights granted to Beam under this Agreement and (B) the Field (which, in each case, Bio Palette may redact as necessary to protect confidential or commercially sensitive
information); 
 7.4.2. Bio Palette shall promptly notify Beam in the event of the termination of the Bio Palette In-License and shall use Commercially Reasonable Efforts to assist Beam in obtaining a direct license from Kobe University if available pursuant to, and in accordance with, the sublicense survival terms of the Bio
Palette In-License; 
 7.4.3. Bio Palette shall take all actions (including the payment of all
amounts) necessary to renew the Bio Palette In-License no later than [**] days prior to the end of each license period thereunder, and shall provide to Beam prompt written notice of such renewal; 

7.4.4. Bio Palette shall promptly (but in any event no later than [**]Business Days of Bio Palette becoming aware) notify Beam of any actual or
alleged breach by Bio Palette of the Bio Palette In-License or the occurrence of any other event that would likely give rise to a termination right of Kobe University under the Bio Palette In-License; 
 7.4.5. Without Beam’s prior written consent, Bio Palette shall not consent to any sale
or other transfer by Kobe University of any of the Bio Palette Patents; 
 7.4.6. Without Beam’s prior written consent, Bio Palette
shall not change any course of dealing with Kobe University under the Bio Palette In-License; and 

7.4.7. Starting promptly following the Effective Date, Bio Palette shall use reasonable efforts to negotiate and enter into an amendment to the
Bio Palette In-License in a form reasonably acceptable to Beam, which amendment shall include provisions reasonably requested by Beam, including the addition of an express right of Bio Palette to grant
sublicenses through multiple tiers without Kobe University’s consent or an express right of Beam, as Bio Palette’s sublicensee, to grant further sublicenses through multiple tiers without Kobe University’s consent. 

7.5. Additional Covenants of Beam. Beam agrees that, during the Term: 

7.5.1. Beam will, and will cause its Affiliates to, (i) perform and comply in all material respects with all terms and conditions of Beam In-Licenses, (ii) not enter into or amend any agreement with any Third Party, including the In-Licensors, which amendment or agreement materially adversely affects the
rights granted to Bio Palette hereunder or Beam’s ability to fully perform its obligations hereunder; and (iii) promptly furnish Bio Palette with copies of all amendments to the Beam In-Licenses
executed following the Effective Date that directly relate to (A) the rights granted to Bio Palette under this Agreement and (B) the Microbiome Field (which, in each case, Beam may redact as necessary to protect confidential or
commercially sensitive information); 

  
 29 

 7.5.2. Beam shall promptly notify Bio Palette in the event of the termination of any Beam In-License and shall use Commercially Reasonable Efforts to assist Bio Palette in obtaining a direct license from the applicable In-Licensor if available pursuant to, and in
accordance with, the sublicense survival terms of such Beam In-License; 
 7.5.3. [**]; and 

7.5.4. Beam shall timely pay all maintenance fees required to be paid under the Beam In-Licenses. 

7.6. Disclaimer. Except as otherwise expressly set forth in this Agreement, NEITHER PARTY MAKES ANY REPRESENTATION OR EXTENDS ANY
WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY THAT ANY PATENTS ARE VALID OR ENFORCEABLE, AND EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND
NON-INFRINGEMENT. Without limiting the generality of the foregoing, except as otherwise expressly set forth in this Agreement, each Party disclaims any warranties with regards to: (a) the safety or
usefulness for any purpose of the technology or materials it provides or discovers under this Agreement; or (b) the validity, enforceability, or non-infringement of any intellectual property rights or
technology it provides or licenses to the other Party under this Agreement. 
 ARTICLE 8 

INDEMNIFICATION; INSURANCE 

8.1. Indemnification by Beam. Beam shall indemnify, defend and hold harmless Bio Palette and its Affiliates, and its or their
respective directors, officers, employees and agents, (each, an “Bio Palette Indemnitee”) from and against any and all liabilities, damages, losses, costs and expenses, including the reasonable fees of attorneys and other
professional Third Parties (collectively, “Losses”), arising out of or resulting from any and all Third Party suits, claims, actions, proceedings or demands (“Claims”) based upon: 

8.1.1. the negligence, recklessness or wrongful intentional acts or omissions of Beam or its Affiliates or its or their respective directors,
officers, employees and agents in connection with Beam’s performance of its obligations or exercise of its rights under this Agreement; 

8.1.2. any breach of any representation or warranty or express covenant made by Beam under Article 7 or any other provision under this
Agreement; 
 8.1.3. failure by Beam to comply with any Law; or 

8.1.4. any Development of a Licensed Product conducted by or on behalf of Beam, its Affiliates or sublicensees, or any Manufacture or
Commercialization by Beam, its Affiliates, licensees or sublicensees of any Licensed Product, but excluding the infringement or misappropriation of any patent or other intellectual property rights of any Third Party arising out of the practice of a
Bio Palette Patent; 

  
 30 

 except, in each case, to the extent any such Losses or Claims are subject to indemnification
by Bio Palette under Section 8.2. 
 8.2. Indemnification by Bio Palette. Bio Palette shall indemnify, defend and hold harmless
Beam and its Affiliates, and its or their respective directors, officers, employees and agents (each, and “Beam Indemnitee”), from and against any and all Losses, arising out of or resulting from any and all Claims based upon: 

8.2.1. the negligence, recklessness or wrongful intentional acts or omissions of Bio Palette or its Affiliates or its or their respective
directors, officers, employees and agents, in connection with Bio Palette’s performance of its obligations or exercise of its rights under this Agreement; 

8.2.2. any breach of any representation or warranty or express covenant made by Bio Palette under Article 7 or any other provision under this
Agreement; 
 8.2.3. failure by Bio Palette to comply with any Law; or 

8.2.4. any Development of a Licensed Product conducted by or on behalf of Bio Palette, its Affiliates or sublicensees, or any Manufacture or
Commercialization by Bio Palette, its Affiliates, licensees or sublicensees of any Licensed Product, but excluding the infringement or misappropriation of any patent or other intellectual property rights of any Third Party arising out of the
practice of a Beam Patent; 
 except, in each case, to the extent any such Losses or Claims are subject to indemnification by Beam under
Section 8.1. 
 8.3. Procedure. A Person entitled to indemnification under this Article 8 (an “Indemnified
Party”) shall give prompt written notification to the Person from whom indemnification is sought (the “Indemnifying Party”) of the commencement of any action, suit or proceeding relating to a Third Party claim for which
indemnification may be sought or, if earlier, upon the assertion of any such claim by a Third Party (it being understood and agreed, however, that the failure by an Indemnified Party to give notice of a Third Party claim as provided in this
Section 8.3 shall not relieve the Indemnifying Party of its indemnification obligation under this Agreement except and only to the extent that such Indemnifying Party is actually damaged as a result of such failure to give notice). Within [**]
days after delivery of such notification, the Indemnifying Party may, upon written notice thereof to the Indemnified Party, assume control of the defense of such action, suit, proceeding or claim with counsel reasonably satisfactory to the
Indemnified Party. If the Indemnifying Party does not assume control of such defense, the Indemnified Party shall control such defense and, without limiting the Indemnifying Party’s indemnification obligations, the Indemnifying Party shall
reimburse the Indemnified Party for all costs and expenses, including attorney fees, reasonably incurred by the Indemnified Party in defending itself within [**] days after receipt of any invoice therefor from the Indemnified Party. The Party not
controlling such defense may participate therein at its own expense; provided that, 

  
 31 

 
if the Indemnifying Party assumes control of such defense and the Indemnified Party in good faith concludes, based on advice from counsel, that the Indemnifying Party and the Indemnified Party
have conflicting interests with respect to such action, suit, proceeding or claim, the Indemnifying Party shall be responsible for the reasonable fees and expenses of one counsel to the Indemnified Party in connection therewith. The Party
controlling such defense shall keep the other Party advised of the status of such action, suit, proceeding or claim and the defense thereof and shall consider recommendations made by the other Party with respect thereto. The Indemnified Party shall
not agree to any settlement of such action, suit, proceeding or claim without the prior written consent of the Indemnifying Party, which shall not be unreasonably withheld, delayed or conditioned. The Indemnifying Party shall not agree to any
settlement of such action, suit, proceeding or claim or consent to any judgment in respect thereof that does not include a complete and unconditional release of the Indemnified Party from all liability with respect thereto, that imposes any
liability or obligation on the Indemnified Party or that acknowledges fault by the Indemnified Party without the prior written consent of the Indemnified Party. 

8.4. Insurance. Each Party shall maintain, at its cost, insurance against liability and other risks associated with its activities and
obligations under this Agreement, including its indemnification obligations hereunder, in such amounts, subject to such deductibles and on such terms as are customary for the activities to be conducted by it under this Agreement and as are
consistent with the requirements of the Applicable In-Licenses. Each Party shall furnish to the other Party evidence of such insurance upon request and add any additional insured as may be contemplated by the
Applicable In-Licenses. 
 8.5. LIMITATION OF LIABILITY. EXCEPT FOR A BREACH OF ARTICLE 6 OR
FOR CLAIMS OF A THIRD PARTY THAT ARE SUBJECT TO INDEMNIFICATION UNDER THIS ARTICLE 8, NEITHER BIO PALETTE NOR BEAM, NOR ANY OF THEIR RESPECTIVE AFFILIATES, LICENSEES OR SUBLICENSEES, WILL BE LIABLE TO THE OTHER PARTY TO THIS AGREEMENT, ITS
AFFILIATES OR ANY OF THEIR LICENSEES OR SUBLICENSEES FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES OR LOST PROFITS OR ROYALTIES, LOST DATA OR COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, WHETHER LIABILITY IS
ASSERTED IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT PRODUCT LIABILITY), INDEMNITY OR CONTRIBUTION, AND IRRESPECTIVE OF WHETHER THAT PARTY OR ANY REPRESENTATIVE OF THAT PARTY HAS BEEN ADVISED OF, OR OTHERWISE MIGHT HAVE ANTICIPATED THE
POSSIBILITY OF, ANY SUCH LOSS OR DAMAGE. 
 ARTICLE 9 

TERM AND TERMINATION 
 9.1.
Term. This Agreement is effective as of the Effective Date and, unless earlier terminated by a Party in accordance with Section 9.2, 9.3, 9.4 or 9.5, shall expire on a Licensed Product-by-Licensed Product and country-by-country basis upon the expiration of the Royalty Term with respect to such Licensed
Product in such country (the “Term”). 
 9.2. Termination at Will. Either Party shall have the right, at its sole
discretion, exercisable at any time during the Term, to terminate this Agreement solely with respect to the license granted to such Party under Section 2.1 (and, for clarity, not with respect to the license granted to the other Party under
Section 2.1), upon [**] days’ prior written notice to the other Party. 

  
 32 

 9.3. Termination for Material Breach. Either Party (the “Non-Breaching Party”) may, without prejudice to any other remedies available to it under applicable Law or in equity, terminate this Agreement with respect to the license granted to the other Party (the
“Breaching Party”) under Section 2.1 (but may, for clarity, retain the license granted to the Non-Breaching Party under Section 2.1) if the Breaching Party shall have materially
breached this Agreement, and such material breach shall have continued for [**] days (or, in the case of a payment breach by the Breaching Party, [**] days) after written notice thereof was provided to the Breaching Party by the Non-Breaching Party, such notice describing the alleged breach. Any such termination of this Agreement under this Section 9.3 shall become effective at the end of such
[**]-day or [**]-day (as applicable) cure period, unless the Breaching Party has cured such breach prior to the expiration of such cure period, or if such breach is not
susceptible to cure within such cure period even with the use of Commercially Reasonable Efforts, the Non-Breaching Party’s right to termination shall be suspended only if and for so long as the Breaching
Party has provided to the Non-Breaching Party a written plan that is reasonably calculated to effect a cure, such plan is acceptable to the Non-Breaching Party, and the
Breaching Party commits to and does carry out such plan; provided that in no event shall such extension of the Breaching Party’s right to cure extend beyond [**] days after the expiration of the original cure period. The right of either
Party to terminate this Agreement as provided in this Section 9.3 shall not be affected in any way by such Party’s waiver or failure to take action with respect to any previous breach. 

9.4. Termination for Patent Challenge. In the event of a Patent Challenge by either Party (the “Challenging Party”) or any of
its Affiliates or sublicensees, the other Party (the “Non-Challenging Party”) shall be entitled to terminate this Agreement with respect to the license granted to the Challenging Party under
Section 2.1 (but may, for clarity, retain the license granted to the Non-Challenging Party under Section 2.1), immediately upon written notice to the Challenging Party. Notwithstanding the foregoing,
if a sublicensee of the Challenging Party initiates a Patent Challenge and the applicable In-Licensors have agreed or agree that the Challenging Party may terminate its sublicense with such sublicensee within
a certain period of time and thereafter not be subject to termination of this Agreement with respect to the license granted to the Challenging Party under Section 2.1 as a result of the relevant Patent Challenge, then the Non-Challenging Party will not have the right to terminate this Agreement pursuant to this Section 9.4 on account of a Patent Challenge by such sublicensee if the Challenging Party terminates its sublicense
with such sublicensee within such time period. For the avoidance of doubt, any participation by a Party, any of its Affiliates or sublicensees or its or their employees in any claim, challenge or proceeding that such Party, such Affiliates or
sublicensees or such employees are required to participate in pursuant to a subpoena or court order or participates in a proceeding that is initiated by a patent office and not at the instigation of such Party, such Affiliates or sublicensees or
such employees shall not constitute a Patent Challenge under this Section 9.4 and shall not give rise to the other Party’s right to terminate any license hereunder. 

9.5. Bankruptcy. Either Party may terminate the Agreement if the other Party makes a voluntary or involuntary general assignment of its
assets for the benefit of creditors, a petition in bankruptcy is filed by or against the other Party and is not dismissed in [**] days, or a receiver or trustee is appointed for all or any part of the other Party’s property. 

  
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 9.6. Consequences of Termination. 

9.6.1. Accrued Obligations. Expiration or termination of this Agreement for any reason shall not release any Party of any obligation or
liability which, at the time of such expiration or termination, has already accrued or which is attributable to a period prior to such expiration or termination. 

9.6.2. Termination of Rights. If this Agreement is terminated with respect to a license granted by one Party to the other Party under
Section 2.1, all rights and licenses granted by the Continuing Party to the Non-Continuing Party hereunder shall immediately terminate; provided that any sublicense by the Non-Continuing Party under any sublicense or license granted by the Continuing Party to the Non-Continuing Party under this Agreement will, at the sublicensee’s written
election delivered to the Continuing Party within [**] days of the Non-Continuing Party being provided with written notice or having knowledge of such termination, and to the extent permitted under the
Applicable In-Licenses, survive such termination on the condition that (a) the relevant sublicensee is not, at the time of such termination, in material breach of any of its obligations under such
sublicense and (b) all amounts owed, as of the date of termination of this Agreement, by the Non-Continuing Party to the Continuing Party or the In-Licensors
hereunder have been paid in full. In order to effect this provision, at the request of the sublicensee, the Continuing Party shall use Commercially Reasonable Efforts, in good faith, to enter into a direct license with the sublicensee on
substantially the same terms as the sublicense to the extent such terms relate to the sublicensed technology; provided that (i) the financial terms of such direct license will be the same terms as set forth in this Agreement with respect
to the sublicensed technology, (ii) the applicable sublicensee shall pay all amounts that, but for the termination of this Agreement, would have become payable by the Non-Continuing Party or such
sublicensee to the Continuing Party or the In-Licensors pursuant to this Agreement prior to the date upon which the Continuing Party and such sublicensee enter into such direct license; provided that,
in the event that more than one sublicense had been granted by the Non-Continuing Party prior to the date of such termination and more than one such sublicensee has elected to enter into a direct license with
the Continuing Party pursuant to this Section 9.6.2, then the total amount payable to the Continuing Party pursuant to this clause (ii) shall be appropriately allocated among such sublicensees so that the Continuing Party does not receive
from such sublicensees an aggregate amount that is more than the amount owed to it by the Non-Continuing Party pursuant to this Agreement prior to such termination, (iii) the Continuing Party will not be
required to undertake obligations in addition to those required by this Agreement and (iv) the Continuing Party’s rights under such direct license will be consistent with its rights under this Agreement, taking into account the scope of
the license granted under such direct license; provided, further, that in no case shall the Continuing Party be required to negotiate with such sublicensee for a direct license for more than [**] days from the date of the
sublicensee’s notice of its intent to enter into a direct license. 
 9.7. Non-Exclusive
Remedy. Termination of this Agreement by a Party shall be without prejudice to other remedies such Party may have at law or equity. 

  
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 9.8. Survival. In addition to this Section 9.8, the following provisions, as
well as any other provisions which by their nature are intended to survive termination or expiration, shall survive expiration or termination of this Agreement and continue to be enforceable: Article 1 (Definitions and Interpretation);
Section 2.3 (No Implied Licenses); Section 4.5 (Reports and Payment) through Section 4.9 (Accounting) (solely with respect to amounts accruing prior to the effective date of such termination or expiration); Section 5.1 (Ownership
of Intellectual Property); Section 5.2.2; Section 5.3.5; Article 6 (Confidentiality); Section 7.6 (Disclaimer); Section 8.1 (Indemnification by Beam); Section 8.2 (Indemnification by Bio Palette); Section 8.3
(Procedure); Section 8.5 (Limitation of Liability); 9.6 (Consequences of Termination); Section 9.7 (Non-Exclusive Remedy); and Article 10 (Miscellaneous). 

ARTICLE 10 

MISCELLANEOUS 
 10.1.
Escalation. If a dispute between the Parties arises under this Agreement, either Party shall have the right to refer such dispute in writing to the respective Executive Officers, and such Executive Officers shall attempt in good faith to
resolve such dispute. If the Parties are unable to resolve a given dispute pursuant to this Section 10.1 within [**] days after referring such dispute to the Executive Officers, either Party may have the given dispute settled by binding
arbitration pursuant to Section 10.2. 
 10.2. Arbitration. If a Party intends to begin an arbitration to resolve a dispute
arising under this Agreement, such Party shall provide written notice (the “Arbitration Request”) to the other Party of such intention and a statement of the issues for resolution. From the date of the Arbitration Request and until
such time as the dispute has become finally settled, the running of the time periods as to which Party must cure a breach of this Agreement becomes suspended as to any breach that is the subject matter of the dispute. 

10.2.1. Additional Issues. Within [**] days after the receipt of the Arbitration Request, the other Party may, by written notice, add
additional issues for resolution in a statement of counter-issues. 
 10.2.2. No Arbitration of Patent Issues. Any dispute,
controversy or claim under this Agreement relating to the scope, validity, enforceability or infringement of any Patent Covering the manufacture, use, importation, offer for sale or sale of Licensed Products shall be submitted to a court of
competent jurisdiction in the country in which such Patent was granted or arose. 
 10.2.3. Arbitration Procedure. Any arbitration
pursuant to this Section 10.2 will be conducted in the English language and will be held in New York, NY, United States, unless another location is mutually agreed by the Parties. The arbitration will be governed by the United States
Arbitration Act, 9 U.S.C. §§ 1-16, to the exclusion of any inconsistent state Law. The Parties shall mutually agree on the rules to govern discovery and the rules of evidence for the arbitration
within [**] days after the Arbitration Request. If the Parties fail to timely agree to such rules, the United States Federal Rules of Civil Procedure will govern discovery and the United States Federal Rules of Evidence will govern evidence for the
arbitration. The arbitration will be conducted by a single arbitrator knowledgeable in the subject matter at issue in the dispute and acceptable to both Parties, 

  
 35 

 
provided that the Parties may by mutual agreement elect to have the arbitration conducted by a panel of three (3) arbitrators. If the Parties fail to agree on a mutually acceptable
arbitrator within [**] days after the Arbitration Request, then the arbitrator shall be selected by the Boston, MA office of the AAA. The arbitrator may proceed to an award, notwithstanding the failure of either Party to participate in the
proceedings. The arbitrator shall, within [**] days after the conclusion of the arbitration hearing, issue a written award and statement of decision describing the essential findings and conclusions on which the award is based, including the
calculation of any damages awarded. The arbitrator shall be limited in the scope of his or her authority to resolving only the specific matter which the Parties have referred to arbitration for resolution and shall not have authority to render any
decision or award on any other issues. Subject to Section 8.5, the arbitrator shall be authorized to award compensatory damages, but shall not be authorized to award punitive, special, consequential, or any other similar form of damages, or to
reform, modify or materially change this Agreement. The arbitrator also shall be authorized to grant any temporary, preliminary or permanent equitable remedy or relief the arbitrator deems just and equitable and within the scope of this Agreement,
including an injunction or order for specific performance. The award of the arbitrator shall be the sole and exclusive remedy of the Parties, except for those remedies that are set forth in this Agreement or which apply to a Party by operation of
the applicable provisions of this Agreement, and the Parties hereby expressly agree to waive the right to appeal from the decisions of the arbitrator, and there shall be no appeal to any court or other authority (government or private) from the
decision of the arbitrator. Judgment on the award rendered by the arbitrator may be enforced in any court having competent jurisdiction thereof. 

10.2.4. Costs. Each Party shall bear its own attorneys’ fees, costs, and disbursements arising out of the arbitration, and shall
pay an equal share of the fees and costs of the arbitrator; provided, however, that the arbitrator, in his or her award, shall be authorized to determine whether a Party is the prevailing Party, and if so, to award to that prevailing
Party reimbursement for its reasonable attorneys’ fees, costs and disbursements (including, for example, expert witness fees and expenses, transcripts, photocopy charges and travel expenses). 

10.2.5. Preliminary Injunctions. Notwithstanding anything in this Agreement to the contrary, a Party may seek a temporary restraining
order or a preliminary injunction from any court of competent jurisdiction in order to prevent immediate and irreparable injury, loss, or damage on a provisional basis, pending the award of the arbitrator on the ultimate merits of any dispute. 

10.2.6. Confidentiality. All proceedings and decisions of the arbitrator shall be deemed Confidential Information of each of the
Parties, and shall be subject to Article 6. 
 10.3. Governing Law. This Agreement and any dispute arising from the performance or
breach hereof shall be governed by and construed and enforced in accordance with the Laws of the State of New York without reference to conflicts of laws principles, provided that, with respect to matters involving the enforcement of
intellectual property rights, the Laws of the country of the intellectual property rights at issue shall apply. The provisions of the United Nations Convention on Contracts for the International Sale of Goods shall not apply to this Agreement or any
subject matter hereof. 

  
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 10.4. Assignment. Neither Party may assign this Agreement without the consent of the
other Party, except as otherwise provided in this Section 10.4. Either Party may assign this Agreement in whole or in part to any Affiliate of such Party without the consent of the other Party, provided that such assigning Party provides
the other Party with written notice of such assignment and the assignee agrees in writing to assume performance of all assigned obligations. Further, each Party may assign this Agreement, and all of its rights and obligations, without the consent of
the other Party to its successor in interest by way of merger, acquisition, or sale of all or substantially all of its business or assets to which this Agreement relates, provided that such assigning Party provides the other Party with
written notice of such assignment and the assignee agrees in writing to assume performance of all assigned obligations. If any assignment of this Agreement by a Party (or its Affiliate) to an Affiliate would result in withholding taxes that did not
exist prior to such assignment (e.g., through a change in such assigning entity’s jurisdiction of incorporation or residence for tax purposes), then the amount of any payment by such Affiliate hereunder shall be increased so that the net
amount payable to the other Party after the deduction of all incremental withholding taxes incurred as a result of such assignment equals the amount of the payment that would otherwise have been payable but for such assignment. The terms of this
Agreement shall be binding upon and shall inure to the benefit of the successors, heirs, administrators and permitted assigns of the Parties. Any purported assignment in violation of this Section 10.4 shall be null and void. If a Party assigns
this Agreement in whole or in part to an Affiliate or Third Party as permitted by this Section 10.4, (x) the assigning Party shall thereafter remain liable for the performance by such assignee of all of such Party’s financial obligations
hereunder and the other Party may enforce such financial obligations against the assigning Party without first seeking to obtain performance from the assignee or exercising any other remedy or right that the enforcing Party may have and (y) the
assigning Party shall thereafter remain liable for causing such assignee to perform all of the assigning Party’s non-financial obligations hereunder. 

10.5. Performance Warranty. Each Party hereby acknowledges and agrees that it shall be responsible for the full and timely performance
as and when due under, and observance of all the covenants, terms, conditions and agreements set forth in, this Agreement by its Affiliate(s), licensees and sublicensees. 

10.6. Force Majeure. No Party shall be held liable or responsible to the other Party nor be deemed to be in default under, or in breach
of any provision of, this Agreement for failure or delay in fulfilling or performing any obligation (other than a payment obligation) of this Agreement when such failure or delay is due to force majeure, and without the fault or negligence of the
Party so failing or delaying. For purposes of this Agreement, force majeure is defined as causes beyond the control of the Party, including acts of God; material changes in Law; war; civil commotion; destruction of production facilities or materials
by fire, flood, earthquake, explosion or storm; labor disturbances; epidemic; and failure of public utilities or common carriers. In any such event, the affected Party shall immediately notify the other Party of such inability and of the period for
which such inability is expected to continue. The Party giving such notice shall thereupon be excused from such of its obligations under this Agreement as it is thereby disabled from performing for so long as it is so disabled for up to a maximum of
[**] days, after which time the Parties shall promptly meet to discuss in good faith how to best proceed in a manner that maintains and abides by the Agreement. To the extent possible, each Party shall use reasonable efforts to minimize the duration
of any force majeure. 

  
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 10.7. Notices. Any notice or request required or permitted to be given under or in
connection with this Agreement shall be deemed to have been sufficiently given if in writing and personally delivered or sent by certified mail (return receipt requested), facsimile transmission (receipt verified), or overnight express courier
service (signature required), prepaid, to the Party for which such notice is intended, at the address set forth for such Party below: 
 If
to Bio Palette, 
  

			
	addressed to:	  	 Bio Palette Co., Ltd.
 1-1 Rokkodai-cho, Nada-ku
 Kobe, 657-0013 Japan
 Attn: Chief Executive Officer

E-mail: [**]

		
	with a copy to:	  	 Midosuji Legal Profession Corporation
 20F
Kasumigaseki Building
 3-2-5 Kasumigaseki,
Chiyoda-ku
 Tokyo, 100-6020, Japan

Telephone: [**]
 Facsimile: [**]

E-mail: [**]

		
	If to Beam,	  	
		
	addressed to:	  	 Beam Therapeutics Inc.
 26 Landsdowne Street

Cambridge, MA 02139
 Attn: Chief Executive Officer

E-mail: [**]

		
	with a copy to:	  	 Ropes & Gray LLP
 Prudential Tower

800 Boylston Street
 Boston, MA 02199

Telephone: (617) 951-7826

Facsimile: (617) 235-0706

E-mail: [**]

 or to such other address for such Party as it shall have specified by like notice to the other Party. If delivered
personally or by facsimile transmission, the date of delivery shall be deemed to be the date on which such notice or request was given. If sent by certified or express mail, the date of delivery shall be deemed to be the fifth (5th) Business Day after the date of mailing. Notwithstanding the foregoing, notices of a change of address shall be effective only upon receipt thereof. 

  
 38 

 10.8. Export Clause. Each Party acknowledges that the Laws of the United States
restrict the export and re-export of commodities and technical data of United States origin. Each Party agrees that it will not export or re-export restricted
commodities or the technical data of the other Party in any form without the appropriate United States and foreign government licenses. 

10.9. Waiver. Neither Party may waive or release any of its rights or interests in this Agreement except in writing. The failure of
either Party to assert a right hereunder or to insist upon compliance with any term of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition. No waiver by either Party
of any condition or term in any one or more instances shall be construed as a continuing waiver of such condition or term or of another condition or term. 

10.10. Severability. If any provision hereof should be held invalid, illegal or unenforceable in any jurisdiction, the Parties shall
negotiate in good faith a valid, legal and enforceable substitute provision that most nearly reflects the original intent of the Parties and all other provisions hereof shall remain in full force and effect in such jurisdiction and shall be
liberally construed in order to carry out the intentions of the Parties hereto as nearly as may be possible. Such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of such provision in any other
jurisdiction. 
 10.11. Entire Agreement. This Agreement, together with the Exhibits and Schedules hereto, set forth all the
covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto and supersede and terminate all prior agreements and understanding between the Parties. In particular, and without limitation,
this Agreement supersedes and replaces the Existing Confidentiality Agreement and any and all term sheets relating to the transactions contemplated by this Agreement and exchanged between the Parties prior to the Effective Date. There are no
covenants, promises, agreements, warranties, representations, conditions or understandings, either oral or written, between the Parties other than as set forth herein and therein. No subsequent alteration, amendment, change or addition to this
Agreement shall be binding upon the Parties hereto unless reduced to writing and signed by the respective authorized officers of the Parties. 

10.12. Independent Contractors. Nothing herein shall be construed to create any relationship of employer and employee, agent and
principal, partnership or joint venture between the Parties. Each Party is an independent contractor. Neither Party shall assume, either directly or indirectly, any liability of or for the other Party. Neither Party shall have the authority to bind
or obligate the other Party and neither Party shall represent that it has such authority. 
 10.13. Language; Construction. This
Agreement is drafted in the English language and the English language version of this Agreement is deemed to be the legally binding and enforceable version of this Agreement, notwithstanding any translation of this Agreement into any other language.
The terms of this Agreement represent the results of negotiations between the Parties and their representatives, each of which has been represented by counsel of its own choosing, and neither of which has acted under duress or compulsion, whether
legal, economic or otherwise. Accordingly, the terms of this Agreement shall be interpreted and construed in accordance with their usual and customary meanings, and each of the Parties hereto hereby waives the application in connection with the
interpretation and construction of this Agreement of any rule of Law to the effect that ambiguous or conflicting terms or provisions contained in this Agreement shall be interpreted or construed against the Party whose attorney prepared the executed
draft or any earlier draft of this Agreement. 

  
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 10.14. Books and Records. Any books and records to be maintained under this Agreement
by a Party or its Affiliates, licensees or sublicensees shall be maintained in accordance with GAAP to the extent such books and records are subject to an audit right under this Agreement. 

10.15. Further Actions. Each Party shall execute, acknowledge and deliver such further instruments, and do all such other acts, as may
be necessary or appropriate in order to carry out the expressly stated purposes and the clear intent of this Agreement. 
 10.16. Parties
in Interest. All of the terms and provisions of this Agreement shall be binding upon, and shall inure to the benefit of and be enforceable by the Parties hereto and their respective successors, heirs, administrators and permitted assigns. 

10.17. Performance by Affiliates. To the extent that this Agreement imposes obligations on Affiliates of a Party, such Party agrees to
cause its Affiliates to perform such obligations. 
 10.18. Counterparts. This Agreement may be signed in counterparts, each and every
one of which shall be deemed an original, notwithstanding variations in format or file designation which may result from the electronic transmission, storage and printing of copies from separate computers or printers. Facsimile signatures and
signatures transmitted via PDF shall be treated as original signatures. 
 [Signature page follows] 

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

							
	 BIO PALETTE CO., LTD.
	  	 BEAM THERAPEUTICS INC.

				
	By:	 	 /s/ Shoko Murase
	  	By:	  	 /s/ John Evans

	 Name:
	 	 Shoko Murase
	  	 Name:
	  	 John Evans

	 Title:
	 	 Chief Executive Officer
	  	 Title:
	  	 Chief Executive Officer

  
 [Signature page to
License Agreement] 

 Exhibit A 

Beam Patents 
 [**]EX-10.8

 Exhibit 10.8 

BEAM THERAPEUTICS INC. 

2017 STOCK OPTION AND GRANT PLAN 
  

	SECTION 1.	 GENERAL PURPOSE OF THE PLAN; DEFINITIONS 

The name of the plan is the Beam Therapeutics Inc. 2017 Stock Option and Grant Plan (the “Plan”). The purpose of the Plan is to
encourage and enable the officers, employees, directors, Consultants and other key persons of Beam Therapeutics Inc., a Delaware corporation (including any successor entity, the “Company”) and its Subsidiaries, upon whose judgment,
initiative and efforts the Company largely depends for the successful conduct of its business, to acquire a proprietary interest in the Company. 

The following terms shall be defined as set forth below: 

“Affiliate” of any Person means a Person that directly or indirectly, through one or more intermediaries, controls, is
controlled by or is under common control with the first mentioned Person. A Person shall be deemed to control another Person if such first Person possesses directly or indirectly the power to direct, or cause the direction of, the management and
policies of the second Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Award” or
“Awards,” except where referring to a particular category of grant under the Plan, shall include Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted
Stock Awards, Restricted Stock Units or any combination of the foregoing. 
 “Award Agreement” means a
written or electronic agreement setting forth the terms and provisions applicable to an Award granted under the Plan. Each Award Agreement may contain terms and conditions in addition to those set forth in the Plan; provided, however,
in the event of any conflict in the terms of the Plan and the Award Agreement, the terms of the Plan shall govern. 

“Board” means the Board of Directors of the Company. 

“Cause” shall have the meaning as set forth in the Award Agreement(s). In the case that any Award Agreement does not contain
a definition of “Cause,” it shall mean (i) the grantee’s dishonest statements or acts with respect to the Company or any Affiliate of the Company, or any current or prospective customers, suppliers vendors or other third parties
with which such entity does business; (ii) the grantee’s commission of (A) a felony or (B) any misdemeanor involving moral turpitude, deceit, dishonesty or fraud; (iii) the grantee’s failure to perform his assigned
duties and responsibilities to the reasonable satisfaction of the Company which failure continues, in the reasonable judgment of the Company, after written notice given to the grantee by the Company; (iv) the grantee’s gross negligence,
willful misconduct or insubordination with respect to the Company or any Affiliate of the Company; or (v) the grantee’s material violation of any provision of any agreement(s) between the grantee and the Company relating to noncompetition,
nonsolicitation, nondisclosure and/or assignment of inventions. 

  
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 “Chief Executive Officer” means the Chief Executive Officer of the Company
or, if there is no Chief Executive Officer, then the President of the Company. 
 “Code” means the Internal Revenue Code of
1986, as amended, and any successor Code, and related rules, regulations and interpretations. 
 “Committee” means the
Committee of the Board referred to in Section 2. 
 “Consultant” means any natural person that provides bona fide
services to the Company (including a Subsidiary), and such services are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company’s
securities. 
 “Disability” means “disability” as defined in Section 422(c) of the Code. 

“Effective Date” means the date on which the Plan is adopted as set forth on the final page of the Plan. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. 

“Fair Market Value” of the Stock on any given date means the fair market value of the Stock determined in good faith by the
Committee based on the reasonable application of a reasonable valuation method not inconsistent with Section 409A of the Code. If the Stock is admitted to trade on a national securities exchange, the determination shall be made by reference to
the closing price reported on such exchange. If there is no closing price for such date, the determination shall be made by reference to the last date preceding such date for which there is a closing price. If the date for which Fair Market Value is
determined is the first day when trading prices for the Stock are reported on a national securities exchange, the Fair Market Value shall be the “Price to the Public” (or equivalent) set forth on the cover page for the final prospectus
relating to the Company’s Initial Public Offering. 
 “Good Reason” shall have the meaning as set forth in the Award
Agreement(s). In the case that any Award Agreement does not contain a definition of “Good Reason,” it shall mean (i) a material diminution in the grantee’s base salary except for across-the-board salary reductions similarly affecting all or substantially all similarly situated employees of the Company or (ii) a change of more than 50 miles in the geographic location at which the
grantee provides services to the Company, so long as the grantee provides at least 90 days notice to the Company following the initial occurrence of any such event and the Company fails to cure such event within 30 days thereafter. 

“Grant Date” means the date that the Committee designates in its approval of an Award in accordance with applicable law as
the date on which the Award is granted, which date may not precede the date of such Committee approval. 
 “Holder” means,
with respect to an Award or any Shares, the Person holding such Award or Shares, including the initial recipient of the Award or any Permitted Transferee. 

  
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 “Incentive Stock Option” means any Stock Option designated and qualified as
an “incentive stock option” as defined in Section 422 of the Code. 
 “Initial Public Offering” means the
consummation of the first firm commitment underwritten public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale by the Company of its equity securities, as a result of or following which
the Stock shall be publicly held. 
 “Non-Qualified Stock Option” means any Stock
Option that is not an Incentive Stock Option. 
 “Option” or “Stock Option” means any option to purchase
shares of Stock granted pursuant to Section 5. 
 “Permitted Transferees” shall mean any of the following to whom a
Holder may transfer Shares hereunder (as set forth in Section 9(a)(ii)(A)): the Holder’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Holder’s household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial
interest, a foundation in which these persons control the management of assets, and any other entity in which these persons own more than fifty percent of the voting interests; provided, however, that any such trust does not require or permit
distribution of any Shares during the term of the Award Agreement unless subject to its terms. Upon the death of the Holder, the term Permitted Transferees shall also include such deceased Holder’s estate, executors, administrators, personal
representatives, heirs, legatees and distributees, as the case may be. 
 “Person” shall mean any individual, corporation,
partnership (limited or general), limited liability company, limited liability partnership, association, trust, joint venture, unincorporated organization or any similar entity. 

“Restricted Stock Award” means Awards granted pursuant to Section 6 and “Restricted Stock” means Shares
issued pursuant to such Awards. 
 “Restricted Stock Unit” means an Award of phantom stock units to a grantee, which may be
settled in cash or Shares as determined by the Committee, pursuant to Section 8. 
 “Sale Event” means the
consummation of (i) the dissolution or liquidation of the Company, (ii) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated person or entity, (iii) a merger, reorganization or
consolidation pursuant to which the holders of the Company’s outstanding voting power immediately prior to such transaction do not own a majority of the outstanding voting power of the surviving or resulting entity (or its ultimate parent, if
applicable), (iv) the acquisition of all or a majority of the outstanding voting stock of the Company in a single transaction or a series of related transactions by a Person or group of Persons, or (v) any other acquisition of the business of
the Company, as determined by the Board; provided, however, that the Company’s Initial Public Offering, any subsequent public offering or another capital raising event, or a merger effected solely to change the Company’s domicile
shall not constitute a “Sale Event.” 

  
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 “Section 409A” means Section 409A of the Code and
the regulations and other guidance promulgated thereunder. 
 “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations thereunder. 
 “Service Relationship” means any relationship as a full-time
employee, part-time employee, director or other key person (including Consultants) of the Company or any Subsidiary or any successor entity (e.g., a Service Relationship shall be deemed to continue without interruption in the event an
individual’s status changes from full-time employee to part-time employee or Consultant). 
 “Shares” means shares of
Stock. 
 “Stock” means the Common Stock, par value $0.01 per share, of the Company. 

“Subsidiary” means any corporation or other entity (other than the Company) in which the Company has more than a
50 percent interest, either directly or indirectly. 
 “Ten Percent Owner” means an employee who owns or is deemed to
own (by reason of the attribution rules of Section 424(d) of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent of the Company or any Subsidiary. 

“Termination Event” means the termination of the Award recipient’s Service Relationship with the Company and its
Subsidiaries for any reason whatsoever, regardless of the circumstances thereof, and including, without limitation, upon death, disability, retirement, discharge or resignation for any reason, whether voluntarily or involuntarily. The following
shall not constitute a Termination Event: (i) a transfer to the service of the Company from a Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another Subsidiary or (ii) an approved leave of absence for military
service or sickness, or for any other purpose approved by the Committee, if the individual’s right to re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which
the leave of absence was granted or if the Committee otherwise so provides in writing. 
 “Unrestricted Stock Award” means
any Award granted pursuant to Section 7 and “Unrestricted Stock” means Shares issued pursuant to such Awards. 
  

	SECTION 2.	 ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO SELECT GRANTEES AND DETERMINE AWARDS

 (a)    Administration of Plan. The Plan shall be administered by the Board, or at the
discretion of the Board, by a committee of the Board, comprised of not less than two directors. All references herein to the “Committee” shall be deemed to refer to the group then responsible for administration of the Plan at the relevant
time (i.e., either the Board of Directors or a committee or committees of the Board, as applicable). 

  
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 (b)    Powers of Committee. The Committee shall have the power
and authority to grant Awards consistent with the terms of the Plan, including the power and authority: 
 (i)    to
select the individuals to whom Awards may from time to time be granted; 
 (ii)    to determine the time or times of
grant, and the amount, if any, of Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock Awards, Unrestricted Stock Awards, Restricted Stock Units, or any combination of the foregoing, granted
to any one or more grantees; 
 (iii)    to determine the number of Shares to be covered by any Award and, subject to
the provisions of the Plan, the price, exercise price, conversion ratio or other price relating thereto; 
 (iv)    to
determine and, subject to Section 12, to modify from time to time the terms and conditions, including restrictions, not inconsistent with the terms of the Plan, of any Award, which terms and conditions may differ among individual Awards and
grantees, and to approve the form of Award Agreements; 
 (v)    to accelerate at any time the exercisability or vesting
of all or any portion of any Award; 
 (vi)    to impose any limitations on Awards, including limitations on transfers,
repurchase provisions and the like, and to exercise repurchase rights or obligations; 
 (vii)    subject to
Section 5(a)(ii) and any restrictions imposed by Section 409A, to extend at any time the period in which Stock Options may be exercised; and 

(viii)    at any time to adopt, alter and repeal such rules, guidelines and practices for administration of the Plan and
for its own acts and proceedings as it shall deem advisable; to interpret the terms and provisions of the Plan and any Award (including Award Agreements); to make all determinations it deems advisable for the administration of the Plan; to decide
all disputes arising in connection with the Plan; and to otherwise supervise the administration of the Plan. 
 All decisions and interpretations of the
Committee shall be binding on all persons, including the Company and all Holders. 
 (c)    Award Agreement.
Awards under the Plan shall be evidenced by Award Agreements that set forth the terms, conditions and limitations for each Award. 

(d)    Indemnification. Neither the Board nor the Committee, nor any member of either or any delegate thereof,
shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with the Plan, and the members of the Board and the Committee (and any delegate thereof) shall be entitled in all cases to
indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, reasonable attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under the
Company’s governing documents, including its certificate of incorporation or By-Laws, or any directors’ and officers’ liability insurance coverage which may be in effect from time to time and/or
any indemnification agreement between such individual and the Company. 

  
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 (e)    Foreign Award Recipients. Notwithstanding any provision of
the Plan to the contrary, in order to comply with the laws in other countries in which the Company and any Subsidiary operate or have employees or other individuals eligible for Awards, the Committee, in its sole discretion, shall have the power and
authority to: (i) determine which Subsidiaries, if any, shall be covered by the Plan; (ii) determine which individuals, if any, outside the United States are eligible to participate in the Plan; (iii) modify the terms and conditions
of any Award granted to individuals outside the United States to comply with applicable foreign laws; (iv) establish subplans and modify exercise procedures and other terms and procedures, to the extent the Committee determines such actions to
be necessary or advisable (and such subplans and/or modifications shall be attached to the Plan as appendices); provided, however, that no such subplans and/or modifications shall increase the share limitation contained in
Section 3(a) hereof; and (v) take any action, before or after an Award is made, that the Committee determines to be necessary or advisable to obtain approval or comply with any local governmental regulatory exemptions or approvals.

  

	SECTION 3.	 STOCK ISSUABLE UNDER THE PLAN; MERGERS AND OTHER TRANSACTIONS; SUBSTITUTION 

(a)    Stock Issuable. The maximum number of Shares reserved and available for issuance under the Plan shall be
1,363,636 Shares, subject to adjustment as provided in Section 3(b). For purposes of this limitation, the Shares underlying any Awards that are forfeited, canceled, reacquired by the Company prior to vesting, satisfied without the
issuance of Stock or otherwise terminated (other than by exercise) and Shares that are withheld upon exercise of an Option or settlement of an Award to cover the exercise price or tax withholding shall be added back to the Shares available for
issuance under the Plan. Subject to such overall limitations, Shares may be issued up to such maximum number pursuant to any type or types of Award, and no more than 10,227,273 Shares may be issued pursuant to Incentive Stock Options. The
Shares available for issuance under the Plan may be authorized but unissued Shares or Shares reacquired by the Company. Beginning on the date that the Company becomes subject to Section 162(m) of the Code, Options with respect to no more than
10,227,273 Shares shall be granted to any one individual in any calendar year period. 
 (b)    Changes in Stock.
Subject to Section 3(c) hereof, if, as a result of any reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar change in the Company’s capital stock, the outstanding Shares are
increased or decreased or are exchanged for a different number or kind of shares or other securities of the Company, or additional Shares or new or different shares or other securities of the Company or other
non-cash assets are distributed with respect to such Shares or other securities, in each case, without the receipt of consideration by the Company, or, if, as a result of any merger or consolidation, or sale
of all or substantially all of the assets of the Company, the outstanding Shares are converted into or exchanged for other securities of the Company or any successor entity (or a parent or subsidiary thereof), the Committee shall make an appropriate
and proportionate adjustment in (i) the maximum number of Shares reserved for issuance under the Plan, (ii) the number and kind of Shares or other securities subject to any then outstanding

  
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Awards under the Plan, (iii) the repurchase price, if any, per Share subject to each outstanding Award, and (iv) the exercise price for each Share subject to any then outstanding Stock
Options under the Plan, without changing the aggregate exercise price (i.e., the exercise price multiplied by the number of Stock Options) as to which such Stock Options remain exercisable. The adjustment by the Committee shall be final, binding and
conclusive. No fractional Shares shall be issued under the Plan resulting from any such adjustment, but the Committee in its discretion may make a cash payment in lieu of fractional shares. 

(c)    Sale Events. 

(i)    Options. 

(A)    In the case of and subject to the consummation of a Sale Event, the Plan and all outstanding Options
issued hereunder shall terminate upon the effective time of any such Sale Event unless assumed or continued by the successor entity, or new stock options or other awards of the successor entity or parent thereof are substituted therefor, with an equitable or proportionate adjustment as to the number and kind of shares and, if appropriate, the per share exercise prices, as such parties shall agree (after taking into account any
acceleration hereunder and/or pursuant to the terms of any Award Agreement). 
 (B)    In the event of
the termination of the Plan and all outstanding Options issued hereunder pursuant to Section 3(c), each Holder of Options shall be permitted, within a period of time prior to the consummation of the Sale Event as specified by the Committee, to
exercise all such Options which are then exercisable or will become exercisable as of the effective time of the Sale Event; provided, however, that the exercise of Options not exercisable prior to the Sale Event shall be subject to the
consummation of the Sale Event. 
 (C)    Notwithstanding anything to the contrary in
Section 3(c)(i)(A), in the event of a Sale Event, the Company shall have the right, but not the obligation, to make or provide for a cash payment to the Holders of Options, without any consent of the Holders, in exchange for the cancellation
thereof, in an amount equal to the difference between (A) the value as determined by the Committee of the consideration payable per share of Stock pursuant to the Sale Event (the “Sale Price”) times the number of Shares subject to
outstanding Options being cancelled (to the extent then vested and exercisable, including by reason of acceleration in connection with such Sale Event, at prices not in excess of the Sale Price) and (B) the aggregate exercise price of all such
outstanding vested and exercisable Options. 
 (ii)    Restricted Stock and Restricted Stock Unit Awards. 

(A)    In the case of and subject to the consummation of a Sale Event, all unvested Restricted Stock and
unvested Restricted Stock Unit Awards (other than those becoming vested as a result of the Sale Event) issued hereunder shall be forfeited immediately prior to the effective time of any such Sale Event unless assumed or continued by the successor
entity, or awards of the successor entity or parent thereof are 

  
 7 

 
substituted therefor, with an equitable or proportionate adjustment as to the number and kind of shares subject to such awards as such parties shall agree (after taking into account any
acceleration hereunder and/or pursuant to the terms of any Award Agreement). 
 (B)    In the event of
the forfeiture of Restricted Stock pursuant to Section 3(c)(ii)(A), such Restricted Stock shall be repurchased from the Holder thereof at a price per share equal to the original per share purchase price paid by the Holder (subject to adjustment
as provided in Section 3(b)) for such Shares. 
 (C)    Notwithstanding anything to the contrary in
Section 3(c)(ii)(A), in the event of a Sale Event, the Company shall have the right, but not the obligation, to make or provide for a cash payment to the Holders of Restricted Stock or Restricted Stock Unit Awards, without consent of the
Holders, in exchange for the cancellation thereof, in an amount equal to the Sale Price times the number of Shares subject to such Awards, to be paid at the time of such Sale Event or upon the later vesting of such Awards. 

 

	SECTION 4.	 ELIGIBILITY 

Grantees under the Plan will be such full or part-time officers and other employees, directors, Consultants and key persons of the Company and
any Subsidiary who are selected from time to time by the Committee in its sole discretion; provided, however, that Awards shall be granted only to those individuals described in Rule 701(c) of the Securities Act. 

 

	SECTION 5.	 STOCK OPTIONS 

Upon the grant of a Stock Option, the Company and the grantee shall enter into an Award Agreement. The terms and conditions of each such Award
Agreement shall be determined by the Committee, and such terms and conditions may differ among individual Awards and grantees. 
 Stock
Options granted under the Plan may be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock Options may be granted only to employees of the Company or any Subsidiary that is a
“subsidiary corporation” within the meaning of Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock Option, it shall be deemed a Non-Qualified Stock
Option. 
 (a)    Terms of Stock Options. The Committee in its discretion may grant Stock Options to those
individuals who meet the eligibility requirements of Section 4. Stock Options shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as the
Committee shall deem desirable. 
 (i)    Exercise Price. The exercise price per share for the Shares covered by
a Stock Option shall be determined by the Committee at the time of grant but shall not be less than 100 percent of the Fair Market Value on the Grant Date. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the
exercise price per share for the Shares covered by such Incentive Stock Option shall not be less than 110 percent of the Fair Market Value on the Grant Date. 

  
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 (ii)    Option Term. The term of each Stock Option shall be fixed
by the Committee, but no Stock Option shall be exercisable more than ten years from the Grant Date. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the term of such Stock Option shall be no more than five years from
the Grant Date. 
 (iii)    Exercisability; Rights of a Stockholder. Stock Options shall become exercisable
and/or vested at such time or times, whether or not in installments, as shall be determined by the Committee at or after the Grant Date. The Award Agreement may permit a grantee to exercise all or a portion of a Stock Option immediately at grant;
provided that the Shares issued upon such exercise shall be subject to restrictions and a vesting schedule identical to the vesting schedule of the related Stock Option, such Shares shall be deemed to be Restricted Stock for purposes of the Plan,
and the optionee may be required to enter into an additional or new Award Agreement as a condition to exercise of such Stock Option. An optionee shall have the rights of a stockholder only as to Shares acquired upon the exercise of a Stock Option
and not as to unexercised Stock Options. An optionee shall not be deemed to have acquired any Shares unless and until a Stock Option shall have been exercised pursuant to the terms of the Award Agreement and this Plan and the optionee’s name
has been entered on the books of the Company as a stockholder. 
 (iv)    Method of Exercise. Stock Options may
be exercised by an optionee in whole or in part, by the optionee giving written or electronic notice of exercise to the Company, specifying the number of Shares to be purchased. Payment of the purchase price may be made by one or more of the
following methods (or any combination thereof) to the extent provided in the Award Agreement: 

(A)    In cash, by certified or bank check, by wire transfer of immediately available funds, or other
instrument acceptable to the Committee; 
 (B)    If permitted by the Committee, by the optionee
delivering to the Company a promissory note, if the Board has expressly authorized the loan of funds to the optionee for the purpose of enabling or assisting the optionee to effect the exercise of his or her Stock Option; provided, that at
least so much of the exercise price as represents the par value of the Stock shall be paid in cash if required by state law; 

(C)    If permitted by the Committee and the Initial Public Offering has occurred (or the Stock otherwise
becomes publicly-traded), through the delivery (or attestation to the ownership) of Shares that have been purchased by the optionee on the open market or that are beneficially owned by the optionee and are not then subject to restrictions under any
Company plan. To the extent required to avoid variable accounting treatment under ASC 718 or other applicable accounting rules, such surrendered Shares if originally purchased from the Company shall have been owned by the optionee for at least six
months. Such surrendered Shares shall be valued at Fair Market Value on the exercise date; 
 (D)    If
permitted by the Committee and the Initial Public Offering has occurred (or the Stock otherwise becomes publicly-traded), by the optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to

  
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a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company for the purchase price; provided that in the event the optionee chooses to pay the
purchase price as so provided, the optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition of such payment procedure; or 

(E)    If permitted by the Committee, and only with respect to Stock Options that are not Incentive Stock
Options, by a “net exercise” arrangement pursuant to which the Company will reduce the number of Shares issuable upon exercise by the largest whole number of Shares with a Fair Market Value that does not exceed the aggregate exercise
price. 
 Payment instruments will be received subject to collection. No certificates for Shares so purchased will be issued to the optionee
or, with respect to uncertificated Stock, no transfer to the optionee on the records of the Company will take place, until the Company has completed all steps it has deemed necessary to satisfy legal requirements relating to the issuance and sale of
the Shares, which steps may include, without limitation, (i) receipt of a representation from the optionee at the time of exercise of the Option that the optionee is purchasing the Shares for the optionee’s own account and not with a view
to any sale or distribution of the Shares or other representations relating to compliance with applicable law governing the issuance of securities, (ii) the legending of the certificate (or notation on any book entry) representing the Shares to
evidence the foregoing restrictions, and (iii) obtaining from optionee payment or provision for all withholding taxes due as a result of the exercise of the Option. The delivery of certificates representing the shares of Stock (or the transfer
to the optionee on the records of the Company with respect to uncertificated Stock) to be purchased pursuant to the exercise of a Stock Option will be contingent upon (A) receipt from the optionee (or a purchaser acting in his or her stead in
accordance with the provisions of the Stock Option) by the Company of the full purchase price for such Shares and the fulfillment of any other requirements contained in the Award Agreement or applicable provisions of laws and (B) if required by
the Company, the optionee shall have entered into any stockholders agreements or other agreements with the Company and/or certain other of the Company’s stockholders relating to the Stock. In the event an optionee chooses to pay the purchase
price by previously-owned Shares through the attestation method, the number of Shares transferred to the optionee upon the exercise of the Stock Option shall be net of the number of Shares attested to. 

(b)    Annual Limit on Incentive Stock Options. To the extent required for “incentive stock option”
treatment under Section 422 of the Code, the aggregate Fair Market Value (determined as of the Grant Date) of the Shares with respect to which Incentive Stock Options granted under the Plan and any other plan of the Company or its parent and
any Subsidiary that become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000 or such other limit as may be in effect from time to time under Section 422 of the Code. To the extent that any Stock
Option exceeds this limit, it shall constitute a Non-Qualified Stock Option. 

(c)    Termination. Any portion of a Stock Option that is not vested and exercisable on the date of termination of
an optionee’s Service Relationship shall immediately expire and be null and void. Once any portion of the Stock Option becomes vested and exercisable, the 

  
 10 

 
optionee’s right to exercise such portion of the Stock Option (or the optionee’s representatives and legatees as applicable) in the event of a termination of the optionee’s Service
Relationship shall continue until the earliest of: (i) the date which is: (A) 12 months following the date on which the optionee’s Service Relationship terminates due to death or Disability (or such longer period of time as determined by
the Committee and set forth in the applicable Award Agreement), or (B) three months following the date on which the optionee’s Service Relationship terminates if the termination is due to any reason other than death or Disability (or such
longer period of time as determined by the Committee and set forth in the applicable Award Agreement), or (ii) the Expiration Date set forth in the Award Agreement; provided that notwithstanding the foregoing, an Award Agreement may
provide that if the optionee’s Service Relationship is terminated for Cause, the Stock Option shall terminate immediately and be null and void upon the date of the optionee’s termination and shall not thereafter be exercisable. 

 

	SECTION 6.	 RESTRICTED STOCK AWARDS 

(a)    Nature of Restricted Stock Awards. The Committee may, in its sole discretion, grant (or sell at par value or
such other purchase price determined by the Committee) to an eligible individual under Section 4 hereof a Restricted Stock Award under the Plan. The Committee shall determine the restrictions and conditions applicable to each Restricted Stock
Award at the time of grant. Conditions may be based on continuing employment (or other Service Relationship), achievement of pre-established performance goals and objectives and/or such other criteria as the
Committee may determine. Upon the grant of a Restricted Stock Award, the Company and the grantee shall enter into an Award Agreement. The terms and conditions of each such Award Agreement shall be determined by the Committee, and such terms and
conditions may differ among individual Awards and grantees. 
 (b)    Rights as a Stockholder. Upon the grant of
the Restricted Stock Award and payment of any applicable purchase price, a grantee of Restricted Stock shall be considered the record owner of and shall be entitled to vote the Restricted Stock if, and to the extent, such Shares are entitled to
voting rights, subject to such conditions contained in the Award Agreement. The grantee shall be entitled to receive all dividends and any other distributions declared on the Shares; provided, however, that the Company is under no duty
to declare any such dividends or to make any such distribution. Unless the Committee shall otherwise determine, certificates evidencing the Restricted Stock shall remain in the possession of the Company until such Restricted Stock is vested as
provided in subsection (d) below of this Section, and the grantee shall be required, as a condition of the grant, to deliver to the Company a stock power endorsed in blank and such other instruments of transfer as the Committee may prescribe.

 (c)    Restrictions. Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered
or disposed of except as specifically provided herein or in the Award Agreement. Except as may otherwise be provided by the Committee either in the Award Agreement or, subject to Section 12 below, in writing after the Award Agreement is issued,
if a grantee’s Service Relationship with the Company and any Subsidiary terminates, the Company or its assigns shall have the right, as may be specified in the relevant instrument, to repurchase some or all of the Shares subject to the Award at
such purchase price as is set forth in the Award Agreement. 

  
 11 

 (d)    Vesting of Restricted Stock. The Committee at the time of
grant shall specify in the Award Agreement the date or dates and/or the attainment of pre-established performance goals, objectives and other conditions on which the substantial risk of forfeiture imposed
shall lapse and the Restricted Stock shall become vested, subject to such further rights of the Company or its assigns as may be specified in the Award Agreement. 
  

	SECTION 7.	 UNRESTRICTED STOCK AWARDS 

The Committee may, in its sole discretion, grant (or sell at par value or such other purchase price determined by the Committee) to an eligible
person under Section 4 hereof an Unrestricted Stock Award under the Plan. Unrestricted Stock Awards may be granted in respect of past services or other valid consideration, or in lieu of cash compensation due to such grantee. 

 

	SECTION 8.	 RESTRICTED STOCK UNITS 

(a)    Nature of Restricted Stock Units. The Committee may, in its sole discretion, grant to an eligible person
under Section 4 hereof Restricted Stock Units under the Plan. The Committee shall determine the restrictions and conditions applicable to each Restricted Stock Unit at the time of grant. Vesting conditions may be based on continuing employment
(or other Service Relationship), achievement of pre-established performance goals and objectives and/or other such criteria as the Committee may determine. Upon the grant of Restricted Stock Units, the grantee
and the Company shall enter into an Award Agreement. The terms and conditions of each such Award Agreement shall be determined by the Committee and may differ among individual Awards and grantees. On or promptly following the vesting date or dates
applicable to any Restricted Stock Unit, but in no event later than March 15 of the year following the year in which such vesting occurs, such Restricted Stock Unit(s) shall be settled in the form of cash or shares of Stock, as specified in the
Award Agreement. Restricted Stock Units may not be sold, assigned, transferred, pledged, or otherwise encumbered or disposed of. 

(b)    Rights as a Stockholder. A grantee shall have the rights of a stockholder only as to Shares, if any,
acquired upon settlement of Restricted Stock Units. A grantee shall not be deemed to have acquired any such Shares unless and until the Restricted Stock Units shall have been settled in Shares pursuant to the terms of the Plan and the Award
Agreement, the Company shall have issued and delivered a certificate representing the Shares to the grantee (or transferred on the records of the Company with respect to uncertificated stock), and the grantee’s name has been entered in the
books of the Company as a stockholder. 
 (c)    Termination. Except as may otherwise be provided by the
Committee either in the Award Agreement or in writing after the Award Agreement is issued, a grantee’s right in all Restricted Stock Units that have not vested shall automatically terminate upon the grantee’s cessation of Service
Relationship with the Company and any Subsidiary for any reason. 

  
 12 

	SECTION 9.	 TRANSFER RESTRICTIONS; COMPANY RIGHT OF FIRST REFUSAL; COMPANY REPURCHASE RIGHTS 

(a)    Restrictions on Transfer. 

(i)    Non-Transferability of Stock Options. Stock Options and, prior to
exercise, the Shares issuable upon exercise of such Stock Option, shall not be transferable by the optionee otherwise than by will, or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the optionee’s
lifetime, only by the optionee, or by the optionee’s legal representative or guardian in the event of the optionee’s incapacity. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide in the Award Agreement
regarding a given Stock Option that the optionee may transfer by gift, without consideration for the transfer, his or her Non-Qualified Stock Options to his or her family members (as defined in Rule 701 of the
Securities Act), to trusts for the benefit of such family members, or to partnerships in which such family members are the only partners (to the extent such trusts or partnerships are considered “family members” for purposes of Rule 701 of
the Securities Act), provided that the transferee agrees in writing with the Company to be bound by all of the terms and conditions of this Plan and the applicable Award Agreement, including the execution of a stock power upon the issuance of
Shares. Stock Options, and the Shares issuable upon exercise of such Stock Options, shall be restricted as to any pledge, hypothecation, or other transfer, including any short position, any “put equivalent position” (as defined in the
Exchange Act) or any “call equivalent position” (as defined in the Exchange Act) prior to exercise. 

(ii)    Shares. No Shares shall be sold, assigned, transferred, pledged, hypothecated, given away or in any other
manner disposed of or encumbered, whether voluntarily or by operation of law, unless (i) the transfer is in compliance with the terms of the applicable Award Agreement, all applicable securities laws (including, without limitation, the
Securities Act), and with the terms and conditions of this Section 9, (ii) the transfer does not cause the Company to become subject to the reporting requirements of the Exchange Act, and (iii) the transferee consents in writing to be
bound by the provisions of the Plan and the Award Agreement, including this Section 9. In connection with any proposed transfer, the Committee may require the transferor to provide at the transferor’s own expense an opinion of counsel to
the transferor, satisfactory to the Committee, that such transfer is in compliance with all foreign, federal and state securities laws (including, without limitation, the Securities Act). Any attempted transfer of Shares not in accordance with the
terms and conditions of this Section 9 shall be null and void, and the Company shall not reflect on its records any change in record ownership of any Shares as a result of any such transfer, shall otherwise refuse to recognize any such transfer
and shall not in any way give effect to any such transfer of Shares. The Company shall be entitled to seek protective orders, injunctive relief and other remedies available at law or in equity including, without limitation, seeking specific
performance or the rescission of any transfer not made in strict compliance with the provisions of this Section 9. Subject to the foregoing general provisions, and unless otherwise provided in the applicable Award Agreement, Shares may be
transferred pursuant to the following specific terms and conditions (provided that 

  
 13 

 
with respect to any transfer of Restricted Stock, all vesting and forfeiture provisions shall continue to apply with respect to the original recipient): 

(A)    Transfers to Permitted Transferees. The Holder may transfer any or all of the Shares to one
or more Permitted Transferees; provided, however, that following such transfer, such Shares shall continue to be subject to the terms of this Plan (including this Section 9) and such Permitted Transferee(s) shall, as a condition to any
such transfer, deliver a written acknowledgment to that effect to the Company and shall deliver a stock power to the Company with respect to the Shares. Notwithstanding the foregoing, the Holder may not transfer any of the Shares to a Person whom
the Company reasonably determines is a direct competitor or a potential competitor of the Company or any of its Subsidiaries. 

(B)    Transfers Upon Death. Upon the death of the Holder, any Shares then held by the Holder at the
time of such death and any Shares acquired after the Holder’s death by the Holder’s legal representative shall be subject to the provisions of this Plan, and the Holder’s estate, executors, administrators, personal representatives,
heirs, legatees and distributees shall be obligated to convey such Shares to the Company or its assigns under the terms contemplated by the Plan and the Award Agreement. 

(b)    Right of First Refusal. In the event that a Holder desires at any time to sell or otherwise transfer all or
any part of his or her Shares (other than shares of Restricted Stock which by their terms are not transferrable), the Holder first shall give written notice to the Company of the Holder’s intention to make such transfer. Such notice shall state
the number of Shares that the Holder proposes to sell (the “Offered Shares”), the price and the terms at which the proposed sale is to be made and the name and address of the proposed transferee. At any time within 30 days after the
receipt of such notice by the Company, the Company or its assigns may elect to purchase all or any portion of the Offered Shares at the price and on the terms offered by the proposed transferee and specified in the notice. The Company or its assigns
shall exercise this right by mailing or delivering written notice to the Holder within the foregoing 30-day period. If the Company or its assigns elect to exercise its purchase rights under this
Section 9(b), the closing for such purchase shall, in any event, take place within 45 days after the receipt by the Company of the initial notice from the Holder. In the event that the Company or its assigns do not elect to exercise such
purchase right, or in the event that the Company or its assigns do not pay the full purchase price within such 45-day period, the Holder shall be required to pay a transaction processing fee of $10,000 to the
Company (unless waived by the Committee) and then may, within 60 days thereafter, sell the Offered Shares to the proposed transferee and at the same price and on the same terms as specified in the Holder’s notice. Any Shares not sold to the
proposed transferee shall remain subject to the Plan. If the Holder is a party to any stockholders agreements or other agreements with the Company and/or certain other of the Company’s stockholders relating to the Shares, (i) the
transferring Holder shall comply with the requirements of such stockholders agreements or other agreements relating to any proposed transfer of the Offered Shares, and (ii) any proposed transferee that purchases Offered Shares shall enter into
such stockholders agreements or other agreements with the Company and/or certain of the Company’s stockholders relating to the Offered Shares on the same terms and in the same capacity as the transferring Holder. 

  
 14 

 (c)    Company’s Right of Repurchase. 

(i)    Right of Repurchase for Unvested Shares Issued Upon the Exercise of an Option. Upon a Termination Event, the
Company or its assigns shall have the right and option to repurchase from a Holder of Shares acquired upon exercise of a Stock Option which are still subject to a risk of forfeiture as of the Termination Event. Such repurchase rights may be
exercised by the Company within the later of (A) six months following the date of such Termination Event or (B) seven months after the acquisition of Shares upon exercise of a Stock Option. The repurchase price shall be equal to the lower
of the original per share price paid by the Holder, subject to adjustment as provided in Section 3(b) of the Plan, or the current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights. 

(ii)    Right of Repurchase With Respect to Restricted Stock. Upon a Termination Event, the Company or its assigns
shall have the right and option to repurchase from a Holder of Shares received pursuant to a Restricted Stock Award any Shares that are still subject to a risk of forfeiture as of the Termination Event. Such repurchase right may be exercised by the
Company within six months following the date of such Termination Event. The repurchase price shall be the lower of the original per share purchase price paid by the Holder, subject to adjustment as provided in Section 3(b) of the Plan, or the
current Fair Market Value of such Shares as of the date the Company elects to exercise its repurchase rights. 

(iii)    Procedure. Any repurchase right of the Company shall be exercised by the Company or its assigns by giving
the Holder written notice on or before the last day of the repurchase period of its intention to exercise such repurchase right. Upon such notification, the Holder shall promptly surrender to the Company, free and clear of any liens or encumbrances,
any certificates representing the Shares being purchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its assignee’s receipt of
the certificates from the Holder, the Company or its assignee or assignees shall deliver to him, her or them a check for the applicable repurchase price; provided, however, that the Company may pay the repurchase price by offsetting and
canceling any indebtedness then owed by the Holder to the Company. 
 (d)    Drag Along Right. In the event the
holders of a majority of the Company’s equity securities then outstanding (the “Majority Shareholders”) determine to enter into a Sale Event in a bona fide negotiated transaction (a “Sale”), with any non-Affiliate of the Company or any majority shareholder (in each case, the “Buyer”), a Holder of Shares, including any Permitted Transferee, shall be obligated to and shall upon the written request of the
Majority Shareholders: (a) sell, transfer and deliver, or cause to be sold, transferred and delivered, to the Buyer, his or her Shares (including for this purpose all of such Holder’s Shares that presently or as a result of any such
transaction may be acquired upon the exercise of an Option (following the payment of the exercise price therefor)) on substantially the same terms applicable to the Majority Shareholders (with appropriate adjustments to reflect the conversion of
convertible securities, the redemption of redeemable securities and the exercise of exercisable securities as well as the relative preferences and priorities of preferred stock); and (b) execute and deliver such instruments of conveyance and
transfer and take such other action, including voting such Shares in favor of any Sale proposed by the Majority Shareholders and executing any purchase agreements, merger agreements, indemnity agreements, escrow agreements or related documents as
the Majority Shareholders or the Buyer may reasonably require in order to carry out the terms and provisions of this Section 9(d). 

  
 15 

 (e)    Escrow Arrangement. 

(i)    Escrow. In order to carry out the provisions of this Section 9 of this Plan more effectively, the
Company shall hold any Shares issued pursuant to Awards granted under the Plan in escrow together with separate stock powers executed by the Holder in blank for transfer. The Company shall not dispose of the Shares except as otherwise provided in
this Plan. In the event of any repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Holder, as the Holder’s attorney-in-fact,
to date and complete the stock powers necessary for the transfer of the Shares being purchased and to transfer such Shares in accordance with the terms hereof. At such time as any Shares are no longer subject to the Company’s repurchase and
first refusal rights, the Company shall, at the written request of the Holder, deliver to the Holder a certificate representing such Shares with the balance of the Shares to be held in escrow pursuant to this Section. 

(ii)    Remedy. Without limitation of any other provision of this Plan or other rights, in the event that a Holder
or any other Person is required to sell a Holder’s Shares pursuant to the provisions of Sections 9(b) or (c) hereof and in the further event that he or she refuses or for any reason fails to deliver to the Company or its designated
purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated by the
Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for such Holder or other Person, to be held by such bank or accounting firm for the benefit of and for delivery to him, her, them or it,
and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by such Holder as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the Person
who was required to sell the Shares to be sold pursuant to the provisions of Sections 9(b) or (c), such Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, such Holder shall have no further
rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner. 

(f)    Lockup Provision. If requested by the Company, a Holder shall not sell or otherwise transfer or dispose of
any Shares (including, without limitation, pursuant to Rule 144 under the Securities Act) held by him or her for such period following the effective date of a public offering by the Company of Shares as the Company shall specify reasonably and in
good faith. If requested by the underwriter engaged by the Company, each Holder shall execute a separate letter confirming his or her agreement to comply with this Section. 

(g)    Adjustments for Changes in Capital Structure. If, as a result of any reorganization, recapitalization,
reclassification, stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding Shares are increased or decreased or are exchanged for a different number or kind of securities of the Company, the
restrictions contained in this Section 9 shall apply with equal force to additional and/or substitute securities, if any, received by Holder in exchange for, or by virtue of his or her ownership of, Shares. 

  
 16 

 (h)    Termination. The terms and provisions of Section 9(b)
and Section 9(c) (except for the Company’s right to repurchase Shares still subject to a risk of forfeiture upon a Termination Event) shall terminate upon the closing of the Company’s Initial Public Offering or upon consummation of
any Sale Event, in either case as a result of which Shares are registered under Section 12 of the Exchange Act and publicly-traded on any national security exchange. 
  

	SECTION 10.	 TAX WITHHOLDING 

(a)    Payment by Grantee. Each grantee shall, no later than the date as of which the value of an Award or of any
Shares or other amounts received thereunder first becomes includable in the gross income of the grantee for income tax purposes, pay to the Company, or make arrangements satisfactory to the Committee regarding payment of, any Federal, state, or
local taxes of any kind required by law to be withheld by the Company with respect to such income. The Company and any Subsidiary shall, to the extent permitted by law, have the right to deduct any such taxes from any payment of any kind otherwise
due to the grantee. The Company’s obligation to deliver stock certificates (or evidence of book entry) to any grantee is subject to and conditioned on any such tax withholding obligations being satisfied by the grantee. 

(b)    Payment in Stock. The Company’s minimum required tax withholding obligation may be satisfied, in whole
or in part, by the Company withholding from Shares to be issued pursuant to an Award a number of Shares having an aggregate Fair Market Value (as of the date the withholding is effected) that would satisfy the minimum withholding amount due. 

 

	SECTION 11.	 SECTION 409A AWARDS.  

To the extent that any Award is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A
(a “409A Award”), the Award shall be subject to such additional rules and requirements as may be specified by the Committee from time to time. In this regard, if any amount under a 409A Award is payable upon a “separation from
service” (within the meaning of Section 409A) to a grantee who is considered a “specified employee” (within the meaning of Section 409A), then no such payment shall be made prior to the date that is the earlier of
(i) six months and one day after the grantee’s separation from service, or (ii) the grantee’s death, but only to the extent such delay is necessary to prevent such payment from being subject to interest, penalties and/or
additional tax imposed pursuant to Section 409A. The Company makes no representation or warranty and shall have no liability to any grantee under the Plan or any other Person with respect to any penalties or taxes under Section 409A that
are, or may be, imposed with respect to any Award. 
  

	SECTION 12.	 AMENDMENTS AND TERMINATION 

The Board may, at any time, amend or discontinue the Plan and the Committee may, at any time, amend or cancel any outstanding Award for the
purpose of satisfying changes in law or for any other lawful purpose, but no such action shall adversely affect rights under any outstanding Award without the consent of the holder of the Award. The Committee may

  
 17 

 
exercise its discretion to reduce the exercise price of outstanding Stock Options or effect repricing through cancellation of outstanding Stock Options and by granting such holders new Awards in
replacement of the cancelled Stock Options. To the extent determined by the Committee to be required either by the Code to ensure that Incentive Stock Options granted under the Plan are qualified under Section 422 of the Code or otherwise, Plan
amendments shall be subject to approval by the Company stockholders entitled to vote at a meeting of stockholders. Nothing in this Section 12 shall limit the Board’s or Committee’s authority to take any action permitted pursuant to
Section 3(c). The Board reserves the right to amend the Plan and/or the terms of any outstanding Stock Options to the extent reasonably necessary to comply with the requirements of the exemption pursuant to paragraph (f)(4) of Rule 12h-1 of the Exchange Act. 
  

	SECTION 13.	 STATUS OF PLAN 

With respect to the portion of any Award that has not been exercised and any payments in cash, Stock or other consideration not received by a
grantee, a grantee shall have no rights greater than those of a general creditor of the Company unless the Committee shall otherwise expressly so determine in connection with any Award. 

 

	SECTION 14.	 GENERAL PROVISIONS 

(a)    No Distribution; Compliance with Legal Requirements. The Committee may require each person acquiring Shares
pursuant to an Award to represent to and agree with the Company in writing that such person is acquiring the Shares without a view to distribution thereof. No Shares shall be issued pursuant to an Award until all applicable securities law and other
legal and stock exchange or similar requirements have been satisfied. The Committee may require the placing of such stop-orders and restrictive legends on certificates for Stock and Awards as it deems appropriate. 

(b)    Delivery of Stock Certificates. Stock certificates to grantees under the Plan shall be deemed delivered for
all purposes when the Company or a stock transfer agent of the Company shall have mailed such certificates in the United States mail, addressed to the grantee, at the grantee’s last known address on file with the Company; provided that stock
certificates to be held in escrow pursuant to Section 9 of the Plan shall be deemed delivered when the Company shall have recorded the issuance in its records. Uncertificated Stock shall be deemed delivered for all purposes when the Company or
a stock transfer agent of the Company shall have given to the grantee by electronic mail (with proof of receipt) or by United States mail, addressed to the grantee, at the grantee’s last known address on file with the Company, notice of
issuance and recorded the issuance in its records (which may include electronic “book entry” records). 

(c)    No Employment Rights. The adoption of the Plan and the grant of Awards do not confer upon any Person
any right to continued employment or Service Relationship with the Company or any Subsidiary. 
 (d)    Trading
Policy Restrictions. Option exercises and other Awards under the Plan shall be subject to the Company’s insider trading policy-related restrictions, terms and conditions as may be established by the Committee, or in accordance with policies
set by the Committee, from time to time. 

  
 18 

 (e)    Designation of Beneficiary. Each grantee to whom an Award
has been made under the Plan may designate a beneficiary or beneficiaries to exercise any Award on or after the grantee’s death or receive any payment under any Award payable on or after the grantee’s death. Any such designation shall be
on a form provided for that purpose by the Committee and shall not be effective until received by the Committee. If no beneficiary has been designated by a deceased grantee, or if the designated beneficiaries have predeceased the grantee, the
beneficiary shall be the grantee’s estate. 
 (f)    Legend. Any certificate(s) representing the Shares
shall carry substantially the following legend (and with respect to uncertificated Stock, the book entries evidencing such shares shall contain the following notation): 

The transferability of this certificate and the shares of stock represented hereby are subject to the restrictions, terms and conditions
(including repurchase and restrictions against transfers) contained in the Beam Therapeutics Inc. 2017 Stock Option and Grant Plan and any agreements entered into thereunder by and between the company and the holder of this certificate (a copy of
which is available at the offices of the company for examination). 
 (g)    Information to Holders of Options.
In the event the Company is relying on the exemption from the registration requirements of Section 12(g) of the Exchange Act contained in paragraph (f)(1) of Rule 12h-1 of the Exchange Act, the Company
shall provide the information described in Rule 701(e)(3), (4) and (5) of the Securities Act to all holders of Options in accordance with the requirements thereunder. The foregoing notwithstanding, the Company shall not be required to provide
such information unless the optionholder has agreed in writing, on a form prescribed by the Company, to keep such information confidential. 
  

	SECTION 15.	 EFFECTIVE DATE OF PLAN 

The Plan shall become effective upon adoption by the Board and shall be approved by stockholders in accordance with applicable state law and
the Company’s certificate of incorporation and By-Laws within 12 months thereafter. If the stockholders fail to approve the Plan within 12 months after its adoption by the Board of Directors, then any
Awards granted or sold under the Plan shall be rescinded and no additional grants or sales shall thereafter be made under the Plan. Subject to such approval by stockholders and to the requirement that no Shares may be issued hereunder prior to such
approval, Stock Options and other Awards may be granted hereunder on and after adoption of the Plan by the Board. No grants of Stock Options and other Awards may be made hereunder after the tenth anniversary of the date the Plan is adopted by the
Board or the date the Plan is approved by the Company’s stockholders, whichever is earlier. 
  

	SECTION 16.	 GOVERNING LAW 

This Plan, all Awards and any controversy arising out of or relating to this Plan and all Awards shall be governed by and construed in
accordance with the General Corporation Law of 

  
 19 

 
the State of Delaware as to matters within the scope thereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of the Commonwealth of
Massachusetts, without regard to conflict of law principles that would result in the application of any law other than the law of the State of the Commonwealth of Massachusetts. 

 

			
	DATE ADOPTED BY THE BOARD OF DIRECTORS:	  	June 27, 2017
		
	DATE APPROVED BY THE STOCKHOLDERS:	  	June 24, 2017

  
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