Document:

LICENSE AGREEMENT WITH BAYER HEALTHCARE AG

 Exhibit 10.14 
 EXECUTION COPY 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 
 LICENSE AGREEMENT 
 This License
Agreement (this “Agreement”), dated as of May 31, 2006 (the “Effective Date”), is made by and between Bayer HealthCare AG, a German corporation (“Bayer”), and Aegerion Pharmaceuticals, Inc., a Delaware
corporation (“Aegerion”). Bayer and Aegerion are sometimes hereinafter referred to each as a “Party” and collectively as the “Parties.” 
 WHEREAS, Bayer has been engaged in the development of implitapide as an inhibitor of microsomal triglyceride transfer protein (“MTP”), and owns and otherwise controls certain patent rights and know-how
with respect thereto; 
 WHEREAS, Aegerion desires to acquire exclusive rights under the Bayer Patent Rights and Bayer Know-How (as defined
below) in order to continue the development thereof and products based thereupon; and 
 WHEREAS, the Parties desire to enter into an
agreement pursuant to which Bayer will grant an exclusive license to Aegerion under the Bayer Patent Rights and Bayer Know-How for Aegerion to develop and commercialize Licensed Compounds and Licensed Products (as defined below). 
 NOW, THEREFORE, the Parties hereby agree as follows: 
 Section 1. Definitions. 
 For the purpose of this Agreement, the following words and phrases shall have the meanings set
forth below: 
 1.1 “Affiliate” of an entity means any other entity which (directly or indirectly) is controlled by, controls or is
under common control with such entity. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”) as used with
respect to an entity means (i) in the case of a corporate entity, direct or indirect ownership of voting securities entitled to cast at least fifty percent (50%) of the votes in the election of directors or (ii) in the case of a
non-corporate entity, direct or indirect ownership of at least fifty percent 50%) of the equity interests with the power to direct the management and policies of such entity, provided that if local law restricts foreign ownership, control shall
be established by direct or indirect ownership of the maximum ownership percentage that may, under such local law, be owned by foreign interests. 
 1.2 “Bayer Know-How” means all Technology, now existing or hereafter arising during the time the license grant set forth in Section 2.1 is in effect, owned or otherwise Controlled by Bayer or any of its Affiliates, that is
related to the Bayer Patent Rights or that is reasonably necessary or useful for the manufacture, use, sale, offer for sale, importation, research, development or commercialization or other exploitation of any Licensed Compounds or Licensed Products
or Improvements. Exhibit A attached hereto lists specific Bayer Know-How. 

 LICENSE AGREEMENT 
  

 1.3 “Bayer Patent Rights” means: 
 (a) the patents and patent applications listed in Exhibit B-1 attached hereto, plus (a) all divisionals, continuations,
continuations-in-part thereof or any other patent application claiming priority directly or indirectly to (i) any of the patents or patent applications identified on Exhibit B-1 or (ii) any patent or patent application from
which the patents or patent applications identified on Exhibit B-1 claim direct or indirect priority, and (b) all patents issuing on any of the foregoing; and 
 (b) all other patents and patent applications owned or otherwise Controlled by Bayer or any of its Affiliates during the time the license
grant set forth in Section 2.1 is in effect that (i) claim any Improvements or their manufacture or use, or (ii) that are reasonably necessary for the manufacture, use sale, offer for sale, importation, research, development or
commercialization or other exploitation of any Licensed Compounds or Licensed Products (the patents and patent applications of this clause (b), collectively “Bayer Improvement Patents”), which Bayer Improvement Patents the
Parties shall list on Exhibit B-2 attached hereto during the term of this Agreement as provided for in Section 6.1, together with all registrations, reissues, re examinations, renewals, supplemental protection certificates and
extensions of any of the foregoing, and all foreign counterparts thereof. 
 1.4 “Combination Product” means a Licensed Product
that includes at least one additional active ingredient other than Licensed Compound. Drug delivery vehicles, adjuvants, and excipients shall not be deemed to be “active ingredients”, except in the case where such delivery vehicle,
adjuvant, or excipient is recognized as an active ingredient in accordance with 21 C.F.R. 210.3(b)(7). 
 1.5 “Commercially
Reasonable Efforts” means, with respect to Licensed Products, the carrying out of development and commercialization activities in a sustained manner using good faith commercially reasonable and diligent efforts, using the efforts that a company
within the pharmaceutical industry and similarly situated to Aegerion would reasonably devote to a product of similar market potential or profit potential resulting from its own research efforts, based on conditions then prevailing and taking into
account, without limitation, issues of safety and efficacy, product profile, the proprietary position, the then current competitive environment for such product and the likely timing of such product’s entry into the market, the regulatory
environment and status of such product, and other relevant scientific, technical and commercial factors. 
 1.6 “Confidential
Information” means all Technology, chemical or biological materials, marketing plans, strategies and customer lists, and other information that are disclosed or provided by such Party or its Affiliates to the other Party or its Affiliates,
regardless of whether any of the foregoing are marked “confidential” or “proprietary” or communicated to the other by the disclosing Party or its Affiliates in oral, written, graphic, or electronic form. 
 1.7 “Confidentiality Agreement” means that certain Mutual Nondisclosure Agreement, dated October 5, 2005, by and between the Parties.

 1.8 “Controlled” or “Controls”, when used in reference to patent or other intellectual property rights or Technology,
means the legal authority or right of a person or entity to grant a license or sublicense of intellectual property rights to another person or entity, or to otherwise disclose or provide Technology to such other person or entity, without breaching
the terms of any agreement with a different person or entity. 
 1.9 “FDA” means the United States Food and Drug Administration or
any successor agency thereto. 
 1.10 “First Commercial Sale” means, with respect to any Licensed Product on a country-by-country
basis, the first sale for use by the general public of such Licensed Product in such country after marketing approval of such Licensed Product has been granted, or marketing and sale of such Licensed Product is otherwise permitted, by the applicable
regulatory authority of such country. 
  

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 LICENSE AGREEMENT 
  

 1.11 “Improvements” means all Technology that amount to improvements to any of the
inventions claimed by the Bayer Patent Rights or to the Bayer Know-How made, developed, conceived, owner or otherwise Controlled by Bayer or any of its Affiliates after the date hereof, whether or not patentable or patented. 
 1.12 “Licensed Compound” means (a) the compound known as Bay 13-9952 and identified as “implitapide,” and (b) any metabolic
precursors, prodrugs, isomers (chiral and otherwise), metabolites, hydrates, anhydrides, solvates, salt forms, free acids or bases, esters, amides, ethers, complexes, conjugates or polymorphs of any compounds covered by the foregoing clause (a)
or this clause (b). 
 1.13 “Licensed Product” means any pharmaceutical product containing a Licensed Compound (alone or with
other active ingredients), in all forms, presentations, formulations and dosage forms. For clarification, Licensed Product shall include any Combination Product. 
 1.14 “NDA” means a New Drug Application filed with the FDA required for marketing approval for the applicable Licensed Product in the United States. 
 1.15 “Net Sales” means, with respect to any Licensed Product, [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
  

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 LICENSE AGREEMENT 
  

 1.16 “Phase III Trial” means a human clinical trial of a Licensed Product on a
sufficient number of subjects that is designed to establish that a pharmaceutical product is safe and efficacious for its intended use, and to determine warnings, precautions and adverse reactions that are associated with such pharmaceutical product
in the dosage range to be prescribed, which trial is intended to support regulatory approval of a Licensed Product, all as described in 21 C.F.R. 312.21(c). For purposes of this Agreement, “Initiation of Phase III Trial” for a
Licensed Product means the first dosing of such Licensed Product in a human patient in a Phase III Trial. 
 1.17 “Technology”
means know-how, trade secrets, chemical and biological materials, formulations, information, documents, studies, results, data and regulatory approvals, data, filings and correspondence (including DMFs), including biological, chemical,
pharmacological, toxicological, pre-clinical, clinical and assay data, manufacturing processes and data, specifications, sourcing information, assays, and quality control and testing procedures, whether or not patented or patentable. 
 1.18 “Third Party” means any person or entity other than Aegerion or Bayer or any of their Affiliates. 
 1.19 “Valid Claim” means a claim of an issued and unexpired patent contained within the Bayer Patent Rights, which claim has not been revoked
or held invalid or unenforceable by a court or other government agency of competent jurisdiction from which no appeal can be or has been taken and has not been held or admitted to be invalid or unenforceable through re-examination, disclaimer,
reissue, opposition procedure, nullity suit or otherwise, and which claim covers a Licensed Product or its use. 
 Section 2. License Grant by Bayer.

 2.1 Exclusive License. Bayer, for itself and on behalf of its Affiliates, hereby grants to Aegerion and its Affiliates a
non-transferable (except in accordance with Section 10.1), exclusive (even as to Bayer and its Affiliates), worldwide license, with the right to sublicense in accordance with Section 2.2 only, under the Bayer Patent Rights and Bayer
Know-How, to make, have made, use, sell, offer to sell, import, research, develop, commercialize and otherwise exploit Licensed Compounds and Licensed Products and Improvements (but with respect to Improvements, only to the extent that any such
Improvement is used in connection with the foregoing licensed activities involving Licensed Compounds and Licensed Products). The foregoing license grant includes the right to make reference to all regulatory approvals, data, filings and
correspondence (including DMFs) contained within the Bayer Know-How. 
  

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 LICENSE AGREEMENT 
  

 2.2 Sublicenses. 
 (a) Subject to Section 2.3, the exclusive license contained in Section 2.1 includes the right to grant sublicenses (through
multiple tiers) to Third Parties (each such Third Party sublicensee, a “Sublicensee”), provided that Aegerion shall remain responsible for the performance of its Sublicensees hereunder. Aegerion shall provide Bayer with a copy of the
sublicense agreement for its Sublicensees within ninety (90) days of execution, which copy may be redacted to exclude financial and other sensitive terms and shall be treated as Confidential Information of Aegerion hereunder. 
 (b) Each sublicense granted by Aegerion to any rights licensed to it hereunder shall terminate immediately upon the termination of the
license from Bayer to Aegerion with respect to such rights, provided that such sublicensed rights shall not terminate if, as of the effective date of such termination by Bayer pursuant to Section 9.2, a Sublicensee is not in material default of
its obligations to Aegerion under its sublicense agreement, and within thirty (30) days of such termination the Sublicensee agrees in writing to be bound directly to Bayer under a license agreement substantially similar to this Agreement with
respect to the rights sublicensed hereunder, substituting such Sublicensee for Aegerion. 
 2.3 Bayer First Right of Negotiation. In
the event Aegerion desires at any time to have a Third Party sell one or more Licensed Products after their respective First Commercial Sale in a particular country or countries (a “Commercialization Agreement”), Aegerion shall notify
Bayer of its desire and provide Bayer with written notice specifying the applicable Licensed Product(s) and country(ies). If Bayer notifies Aegerion in writing of its election to pursue a Commercialization Agreement for such Licensed Product(s) in
such country(ies) within thirty (30) days of Bayer’s receipt of such notice, Aegerion and Bayer shall enter into good faith negotiations with respect to such Commercialization Agreement for a period of ninety (90) days following
Aegerion’s receipt of such election from Bayer (the “Negotiation Period”). During the Negotiation Period, Aegerion shall provide Bayer with such information Controlled by Aegerion regarding such Licensed Product(s) as Bayer may
reasonably request. If Aegerion and Bayer fail to enter into such Commercialization Agreement (notwithstanding those good faith negotiations), or if Bayer fails to notify Aegerion in writing of Bayer’s election to initiate the Negotiation
Period within such 30-day period, Aegerion shall thereafter be free to negotiate and enter into a Commercialization Agreement with one or more Third Parties for some or all of such Licensed Product(s) and country(ies), without any further obligation
or liability to Bayer. Bayer’s rights under this Section 2.3 shall not apply to any assignment by Aegerion permitted by Section 10.1, and this Section 2.3 shall terminate in full upon any such permitted assignment by Aegerion to
a non-Affiliated Third Party. 
 2.4 Restrictions on Bayer. 
 (a) Bayer and its Affiliates shall not grant or provide to any Third Party any Technology, patent or other intellectual property rights or
Confidential Information inconsistent with the terms of this Agreement. For as long as the license grant set forth in Section 2.1 is in effect, (i) Bayer Know-How shall be treated as Confidential Information of both Aegerion and Bayer, and
Bayer and its Affiliates shall not disclose Bayer Know-How except as permitted by Sections 7.1(b) or 7.1(c), and (ii) Bayer and its Affiliates shall not provide to any person or entity (other than Aegerion) any Licensed Compounds
whose use or sale infringes a Valid Claim. 
 (b) The Parties acknowledge that Bayer and its Affiliates do not currently have
any MTP inhibitor program under development and currently do not anticipate initiating any such program. Furthermore, Bayer and its Affiliates do not currently, nor do they intend to, assist any Third Party in developing any MTP inhibitors.
Notwithstanding the foregoing, except as otherwise prohibited by the terms of this Agreement, Bayer reserves the right to do research and development in the area of MTP inhibitors after the Effective Date. 
  

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 LICENSE AGREEMENT 
  

 2.5 License Limitations. No licenses or other rights are granted by Bayer hereunder to use any
trademark, trade name, trade dress or service mark owned or otherwise Controlled by Bayer or any of its Affiliates. All licenses and other rights are or shall be granted only as expressly provided in this Agreement, and no other licenses or other
rights is or shall be created or granted hereunder by implication, estoppel or otherwise. 
 Section 3. Transfer of Bayer Know-How. 
 3.1 Documentation. During the thirty (30) day period following the Effective Date, Bayer shall provide to Aegerion one (1) electronic
copy of all documents, data or other information listed on Exhibit A. 
 3.2 Purchase of Licensed Compound. During the
eighteen (18) month period following the Effective Date, Aegerion shall have the right, but not the obligation, to purchase and have transferred from Bayer, in accordance with Aegerion’s directions, any portion of Bayer’s inventory of
Licensed Compound from any batch that Aegerion may specify at a rate of one thousand five hundred Euros (€1,500) per kilogram of Licensed Compound. The foregoing right shall apply with respect to any batch of Bayer’s inventory of
Licensed Compound set forth in Exhibit C. During such eighteen (18) month period, Bayer shall transfer to Aegerion, at Aegerion’s reasonable request, representative samples of Bayer’s inventory of License Compound from any such
batch that Aegerion may specify for the purpose of testing such samples for viability (at Aegerion’s cost). With respect to any remaining inventory of Licensed Compound in Bayer’s or any of its Affiliates’ possession, (i) Bayer
shall not, and shall cause its Affiliates not to, use or transfer to Third Parties any of such remaining inventory for any purpose and (ii) during such eighteen-month period, [CONFIDENTIAL TREATMENT REQUESTED] /*/. Bayer represents and warrants
that (1) all of Bayer’s inventory of Licensed Compound has been manufactured in accordance with GMP, (2) Exhibit C contains a complete and accurate list of all batches of such inventory as of the Effective Date, including
accurate information related thereto, and (3) each batch of all such inventory has a remaining shelf life as of the Effective Date equal to the period of time between the Effective Date and the “Retest date” set forth in Exhibit
C for such batch. 
 3.3 Technical Assistance. During the six (6) month period following the Effective Date, Bayer shall
reasonably cooperate with Aegerion to (i) provide (a) up to seventy (70) hours of technical assistance without charge to Aegerion and (b) any additional hours of technical assistance as Aegerion may reasonably request, for which
Aegerion shall pay Bayer a rate of [CONFIDENTIAL TREATMENT REQUESTED] /*/ U.S. dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) per hour of such technical assistance, and (ii) transfer to Aegerion any additional Bayer Know-How licensed
under Section 2.1, in each case to facilitate the transfer of development efforts related to Licensed Compounds and Licensed Products. Such cooperation shall include providing Aegerion with reasonable access by teleconference or in-person at
Bayer’s facilities to Bayer personnel involved in the research and development of Licensed Compounds and Licensed Products to provide Aegerion with a reasonable level of technical assistance and consultation in connection with the transfer of
Bayer Know-How. 
  

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 LICENSE AGREEMENT 
  

 Section 4. Development and Commercialization. 
 4.1 Commercially Reasonable Efforts. Aegerion, or one of its Affiliates or Sublicensees, as applicable, shall use Commercially Reasonable Efforts
to develop and commercialize at least one Licensed Product. 
 4.2 Responsibilities and Costs. Aegerion shall have sole
responsibility for, and shall bear all its costs of conducting, all development and commercialization of Licensed Compounds and Licensed Products (including manufacturing all required materials, filing for and obtaining all required regulatory
approvals and submitting any adverse event reports to the applicable regulatory authority). Aegerion shall own the results of all such activities, and as between the Parties, all such regulatory approvals shall be obtained by and in the name of
Aegerion (or its Affiliates or Sublicensees). 
 4.3 Development Plan. Attached hereto as Exhibit D is a summary of
Aegerion’s initial “Development Plan,” which summarizes Aegerion’s plans for the development of Licensed Products. At least semi-annually until a marketing approval in a country for the first Licensed Product, Aegerion shall
provide to Bayer (i) any significant updates or revisions to the Development Plan for Bayer’s review (to the extent not prohibited by any agreement between Aegerion and a Sublicensee), and (ii) a report presenting a meaningful summary
of the development activities accomplished by Aegerion through the end of the preceding semi-annual period. Further, in the event Aegerion’s Board of Directors passes a final resolution to provide notice of the discontinuation of the
development of Licensed Compounds and Licensed Products hereunder, Aegerion shall notify Bayer in writing thereof within five (5) days of such final resolution, provided that such final resolution or discontinuation of development shall not
affect Aegerion’s rights hereunder. 
 Section 5. Aegerion Payments. 
 5.1 Initial License Fee. Aegerion shall pay to Bayer seven hundred and fifty thousand U.S. dollars (US$750,000) within thirty (30) days after
the Effective Date. 
 5.2 Milestone Payments. As set forth in the following table, Aegerion shall make Milestone Payments to Bayer
upon achievement of each of the Milestones Events. Each Milestone Payment shall be payable by Aegerion to Bayer within thirty (30) days after the achievement of the corresponding Milestone Event with respect to the first Licensed Product. Only one
set of Milestone Payments are payable hereunder no matter how many times any of the Milestone Events are achieved. 
  

			
	 “Milestone Event”
	  	 “Milestone Payment”

		
	1. [CONFIDENTIAL TREATMENT REQUESTED] /*/	  	US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/
		
	 2. [CONFIDENTIAL TREATMENT REQUESTED] /*/
	  	US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/
		
	3. [CONFIDENTIAL TREATMENT REQUESTED] /*/	  	US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/

 5.3 Annual Payments. Aegerion shall pay to Bayer, within [CONFIDENTIAL TREATMENT REQUESTED]
/*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days after the start of the 

  

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 LICENSE AGREEMENT 
  

 
corresponding calendar year, the following amounts, which amounts when paid shall be non-refundable: (i) for calendar year 2007, [CONFIDENTIAL TREATMENT
REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/), (ii) for calendar year 2008, [CONFIDENTIAL TREATMENT REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/), (iii) for calendar
year 2009, [CONFIDENTIAL TREATMENT REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/), (iv) for calendar year 2010, [CONFIDENTIAL TREATMENT REQUESTED] /*/ dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) and
(v) for calendar year 2011, [CONFIDENTIAL TREATMENT REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) (each, an “Annual Payment”); provided, however, that each Annual Payment shall be creditable against
the Milestone Payments as such Milestone Payments become payable. [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 5.4 Commercialization
Milestone Payment. A one-time milestone payment of [CONFIDENTIAL TREATMENT REQUESTED] /*/ U.S. dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) shall be payable by Aegerion to Bayer within thirty (30) days after the end of the calendar year
in which Aegerion and its Affiliates and Sublicensees first achieves aggregate Net Sales of all Licensed Products on which royalties are paid hereunder of [CONFIDENTIAL TREATMENT REQUESTED] /*/ U.S. dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED]
/*/). 
  

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 LICENSE AGREEMENT 
  

 5.5 Royalties. 
 (a) Royalties. Subject to the terms and conditions of this Agreement (including the remainder of this Section 5), Aegerion
shall pay to Bayer royalties, on a country-by-country and product-by-product basis for the period of time specified in Section 5.5(b), at the graduated royalty rates specified in the following table with respect to the aggregate annual
worldwide Net Sales of all Licensed Products in a calendar year: 
  

			
	 Aggregate Annual Worldwide Net Sales
of All Licensed Products in a Calendar
Year
	  	 Royalty Rate

		
	On such Net Sales up to one hundred million U.S. dollars (US$100,000,000)	  	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent
 ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)

		
	On such Net Sales above one hundred million U.S. dollars (US$100,000,000) and up to two hundred fifty million U.S. dollars (US$250,000,000)	  	[CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)
		
	On such Net Sales above two hundred fifty million U.S. dollars (US$250,000,000) and up to five hundred million U.S. dollars (US$500,000,000)	  	[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)
		
	On such Net Sales above five hundred million U.S. dollars (US$500,000,000)	  	[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)

 The applicable royalty rate shall be determined by reference to all Net Sales on which royalties
are paid in a given calendar year. [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 (b) Royalty Term. The royalties due under
Section 5.5(a) shall be payable on Net Sales from the First Commercial Sale of a particular Licensed Product until the later of, on a country-by-country basis, (i) the expiration of the last to expire patent in such country within the
Bayer Patent Rights containing a Valid Claim covering such Licensed Product or its use for which regulatory approval has been obtained in such country, or (ii) [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/)
years from such First Commercial Sale, provided that such [CONFIDENTIAL TREATMENT REQUESTED] /*/-year period shall apply only if there was in such country a Valid Claim within the Bayer Patent Rights covering such Licensed Product or its use for
which regulatory approval had been obtained in such country, and further provided that if royalties are owed on account of this clause (ii) but not the preceding clause (i), the royalty rates specified in Section 5.5(a) shall be
reduced by [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%). For clarity, only one [CONFIDENTIAL TREATMENT REQUESTED] /*/-year period under the foregoing clause (ii) above shall apply for all Licensed
Products containing the same Licensed Compound (i.e., for a given chemical entity, not including all of the variations thereof identified in clause (b) of the “Licensed Compound” definition). 
  

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 (c) Generic Competition. The royalty rates specified in Sections 5.5(a)
and 5.5(b) shall be reduced by [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) on a country-by-country basis at any such time where the sale of one or more Generic Product(s) in such country exceeds [CONFIDENTIAL
TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the unit sales volume for the applicable Licensed Product in that country, as measured by IMS Health or its successor. Such reduction shall be first applied with respect
to such country starting with sales in the calendar quarter following the first calendar quarter where the sales of the Generic Product(s) in such country exceed [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) of the unit sales volume of the applicable Licensed Product. 
 (d) Only One Royalty. Only one royalty shall be
due with respect to the sale of the same unit of Licensed Product. Only one royalty shall be due hereunder on the sale of a Licensed Product even if the manufacture, use, sale, offer for sale or importation of such Licensed Product infringes more
than one claim of the Bayer Patent Rights. 
 5.6 Credits and Reductions. The following shall apply to amounts payable to Bayer
hereunder: 
 (a) Dominated IP. [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) of third party royalties and milestones of actual costs paid or payable by Aegerion and its Affiliates for licenses and acquisitions by Aegerion, its Affiliates or Sublicensees of patent or other intellectual property rights dominating or
dominated by Bayer Patent Rights and therefore necessary to practice some or all of the Bayer Patent Rights in a particular country shall be creditable against payments owed Bayer under Sections 5.2 to 5.5. 
 (b) Other IP. Third party royalties and milestones (other than as credited under Section 5.6(a)) for the actual costs paid or
payable by Aegerion and its Affiliates for licenses and acquisitions by Aegerion, its Affiliates or Sublicensees of patent or other intellectual property rights reasonably necessary for the manufacture, use, sale, offer for sale or importation of
any Licensed Product in a particular country shall be creditable against payments owed Bayer under Sections 5.2 to 5.5, provided that, in the case of royalties, only where the aggregate royalty burden for such Licensed Product in a
particular country exceeds [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the Blended Rate (as defined below) and in such a royalty case, Aegerion will be entitled to a credit in the amount of
[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of such excess. For purposes of this Agreement, “Blended Rate” means (1) the total amount of royalties that would be payable in the
applicable calendar quarter and prior three (3) calendar quarters with respect to the applicable Licensed Product under Section 5.5 (without any reduction under this Section 5.6), divided by (2) the total Net Sales on which
royalties are paid for such Licensed Product for that same period, expressed as a percentage. 
 Notwithstanding the foregoing provisions of
this Section 5.6 or Sections 6.3(c) or 6.4, in no event shall Bayer receive less than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the aggregate original payments due hereunder under
Sections 5.2 to 5.5 for any given calendar quarter (with any unused credits to accumulate and be applied against future payments due to Bayer). 
 5.7 Payment Terms. 
 (a) Manner of Payment. All payments to be made by Aegerion
hereunder shall be made in U.S. dollars by wire transfer to such bank account as Bayer may designate. 
 (b) Reports and
Royalty Payments. For as long as royalties are due under Section 5.5(a), Aegerion shall furnish to Bayer a written report, within forty-five (45) days after the end of each calendar quarter, showing the amount of Net Sales of Licensed
Products and royalty due for such calendar quarter. 

  

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 LICENSE AGREEMENT 
  

 
Royalty payments for each calendar quarter shall be due at the same time as such written report for the calendar quarter. The report shall include, at a
minimum, the following information for the applicable calendar quarter, each listed by product and by country of sale: (i) the number of units of Licensed Products sold by Aegerion and its Affiliates and Sublicensees on which royalties are owed
Bayer hereunder; (ii) the gross amount received for such sales; (iii) deductions taken from Net Sales as specified in the definition thereof; (iv) Net Sales; (v) the amounts of any credits or reductions permitted by
Section 5.6 or elsewhere hereunder; (vi) the royalties and Milestone Payments owed to Bayer, listed by category; and (vii) the computations for any applicable currency conversions pursuant to Section 5.7(d). Aegerion shall use
commercially reasonable efforts to obtain permission from each Sublicensee to share with Bayer the information listed in the foregoing clauses (other than clause (iv)) as it relates to Net Sales made by such Sublicensee, and to the extent
successful, will include such Sublicensee information in such report. All such reports shall be treated as Confidential Information of Aegerion. 
 (c) Records and Audits. Aegerion shall keep, and shall cause each of its Affiliates and Sublicensees, as applicable, to keep adequate books and records of accounting for the purpose of calculating all royalties
payable to Bayer hereunder. For the two (2) years next following the end of the calendar year to which each shall pertain, such books and records of accounting (including those of Aegerion’s Affiliates and Sublicensees, as applicable)
shall be kept at each of their principal place of business and shall be open for inspection at reasonable times and upon reasonable notice by an independent certified accountant selected by Bayer, and which is reasonably acceptable to Aegerion, for
the sole purpose of inspecting the royalties due to Bayer under this Agreement. In no event shall such inspections be conducted hereunder more frequently than once every twelve (12) months. Such accountant must have executed and delivered to
Aegerion and its Affiliates and Sublicensees, as applicable, a confidentiality agreement as reasonably requested by Aegerion, which shall include provisions limiting such accountant’s disclosure to Bayer to only the results and basis for such
results of such inspection. The results of such inspection, if any, shall be binding on both Parties. Any underpayments shall be paid by Aegerion within thirty (30) days of notification of the results of such inspection. Any overpayments shall
be fully creditable against amounts payable in subsequent payment periods. Bayer shall pay for such inspections, except that in the event there is any upward adjustment in aggregate royalties payable for any calendar year shown by such inspection of
more than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the amount paid, Aegerion shall reimburse Bayer for any reasonable out-of-pocket costs of such accountant. Any underpayments or overpayments
under this Section 5.7(c) shall be subject to the currency exchange provisions set forth in Section 5.7(d) as applied to the calendar quarter during which the royalty obligations giving rise to such underpayment or overpayment were
incurred by Aegerion. 
 (d) Currency Exchange. With respect to Net Sales invoiced in U.S. dollars, the Net Sales and
the amounts due to Bayer hereunder shall be expressed in U.S. dollars. With respect to Net Sales invoiced in a currency other than U.S. dollars, the Net Sales shall be expressed in the domestic currency of the entity making the sale, together with
the U.S. dollar equivalent, calculated using the official rate of exchange of such domestic currency as quoted by the Wall Street Journal, New York edition, for the last business day of the calendar quarter for which the payment is made. 

(e) Tax Withholding; Value-Added Tax. Aegerion shall have the right to withhold from payments due hereunder any tax which Bayer
is liable to under the appropriate tax laws and for the payments of which Aegerion is responsible. Bayer shall be sent tax receipts by Aegerion certifying the payments of the tax, so that Bayer may use it for claiming a credit on the tax payable by
Bayer in Germany on such payments. No deduction shall be made or a reduced amount shall be deducted if Bayer furnishes a document from all required tax authorities to Aegerion sufficiently before the due date of the payments, certifying that the
payments are exempt from tax or subject to a reduced tax rate according to the applicable convention for the avoidance of double taxation. Except for such withholding taxes and except for the personal corporate income tax of Bayer, any other taxes,
assessments, fees and charges 

  

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imposed against payments due to Bayer hereunder shall be borne by Aegerion. Besides the above said, both Parties will undertake commercially reasonable
efforts to minimize the allover tax burden for each of the Parties. Value-added tax shall apply as legally required. 
 (f)
Interest Due. Aegerion shall pay Bayer interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) per month or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent. 
 Section 6. Patent
Prosecution, Infringement and Extensions. 
 6.1 Appointment and Cooperation. With respect to all of the rights and activities of
Aegerion set forth in this Section 6, Bayer hereby appoints Aegerion as its agent for such purposes with the authority to act on Bayer’s behalf with respect to the Bayer Patent Rights. Bayer shall cooperate with Aegerion in the exercise of
Aegerion’s authority granted herein, and shall execute such documents and take such additional action as Aegerion may request in connection therewith. The Parties shall update Exhibits B-1 and B-2 upon either
Party’s reasonable request. 
 6.2 Prosecution and Maintenance. 
 (a) By Aegerion. On the Effective Date, Bayer shall provide Aegerion with copies of the complete prosecution files for all patents
and patent applications listed on Exhibit B. Aegerion shall be solely responsible for the preparation, prosecution (including any interferences, oppositions, reissue proceedings and reexaminations) and maintenance of the Bayer Patent
Rights, and all filing, prosecution, and maintenance decisions with respect to the Bayer Patent Rights shall be made by Aegerion, provided Bayer shall retain the right to give comments to Aegerion on material aspects of those activities. Aegerion
shall be responsible for all its costs incurred for such preparation, prosecution and maintenance. Each Party shall provide to the other Party copies of any papers relating to the filing, prosecution or maintenance of Bayer Patent Rights promptly
upon receipt. Bayer shall not take any action with respect to the prosecution or maintenance of any Bayer Patent Rights without the prior written consent of Aegerion, except as contemplated by Section 6.2(b). 
 (b) By Bayer. Aegerion shall not knowingly permit any of the Bayer Patent Rights to be abandoned in any country without Bayer first
being given an opportunity to assume full responsibility for the continued prosecution and maintenance of same. In the event that Aegerion decides not to continue the prosecution or maintenance of a patent application or patent within Bayer Patent
Rights in any country, Aegerion shall provide Bayer with notice of this decision at least thirty (30) days prior to any pending lapse or abandonment thereof. In the event that Bayer elects to assume responsibility for such prosecution and
maintenance within thirty (30) days of Aegerion’s notice, Section 6.2(a) shall thereafter apply to such patent application(s) and patent(s) except that the role of Aegerion and Bayer shall be reversed thereunder (including that Bayer
shall be solely responsible for all costs arising from those activities). Such patent application(s) and patent(s) shall otherwise continue to be subject to all of the terms and conditions of the Agreement in the same way as the other Bayer Patent
Rights. 
 (c) Bayer Improvement Patents. For any Bayer Improvement Patents, the roles of the Parties under
this Sections 6.2 shall be reversed. 
 6.3 Enforcement and Defense. 
 (a) By Aegerion. In the event that Bayer or Aegerion becomes aware of a suspected infringement of any Bayer Patent Right, or any
such Bayer Patent Right is challenged in any action or proceeding (other than any interferences, oppositions, reissue proceedings or reexaminations, which are addressed above), such Party shall notify the other Party promptly, and following such
notification, the Parties shall confer. Aegerion shall have the right, but shall not be obligated, to defend any such action or 

  

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proceeding or bring an infringement action with respect to such infringement at its own expense, in its own name and entirely under its own direction and
control, or settle any such action or proceeding by sublicense. Bayer shall reasonably assist Aegerion in any action or proceeding being defended or prosecuted if so requested, and shall join such action or proceeding if reasonably requested by
Aegerion or required by applicable law. Bayer shall have the right to participate in any such action or proceeding with its own counsel at its own expense and without reimbursement. 
 (b) By Bayer. If Aegerion elects not to settle, defend or bring any action for infringement described in Section 6.3(a) and so
notifies Bayer, then, if and only if such infringement would give rise to royalties payable to Bayer hereunder had Aegerion conducted the alleged infringing activities, Bayer may defend or bring such action at its own expense, in its own name and
entirely under its own direction and control, subject to the following: Aegerion shall reasonably assist Bayer in any action or proceeding being defended or prosecuted if so requested, and shall join such action or proceeding if requested by Bayer
or required by applicable law. Aegerion shall have the right to participate in any such action or proceeding with its own counsel at its own expense and without reimbursement. No settlement of any such action or proceeding which restricts the scope,
or adversely affects the enforceability, of a Bayer Patent Right may be entered into by Bayer without the prior written consent of Aegerion. 
 (c) Escrow in Certain Circumstances. On a country-by-country and product-by-product basis, in any action or proceeding in which a Third Party challenges the validity or enforceability of all (and not less than
all) of the Valid Claims under the Bayer Patent Rights in such country that cover such Licensed Product or its use (including by way of interference, opposition, reissue proceeding or reexamination, or in response to enforcement pursuant to
Section 6.3), then upon filing of such action or proceeding by a Third Party, fifty percent (50%) of all the royalties which would otherwise be paid to Bayer, with respect to such Licensed Product for such country affected by such action
or proceeding, shall be deposited in an interest bearing escrow account, until such time as all such Valid Claims expire. All monies in such escrow account, together with all accrued interest, shall be retained by Aegerion if all such Valid Claims
are found invalid or unenforceable by a court of proper jurisdiction in a decision unappealable or unappealed within the time allowed for appeal, and, if at least one such Valid Claim is found not invalid and not unenforceable by a court of proper
jurisdiction in such a decision, all monies in such escrow account, together with all accrued interest, shall be released to Bayer immediately. 
 (d) Withdrawal. If either Party brings an action or proceeding under this Section 6.3 and subsequently ceases to pursue or withdraws from such action or proceeding, it shall promptly notify the other Party
and the other Party may substitute itself for the withdrawing Party under the terms of this Section 6.3. 
 (e)
Damages. In the event that either Party exercises the rights conferred in this Section 6.3 and recovers any damages or other sums in such action or proceeding or in settlement thereof, such damages or other sums recovered shall first be
applied to all out-of-pocket costs and expenses incurred by the Parties in connection therewith (including attorneys fees), unless not reimbursable hereunder. If such recovery is insufficient to cover all such costs and expenses of both Parties, the
controlling Party’s costs shall be paid in full first before any of the other Party’s costs. If after such reimbursement any funds shall remain from such damages or other sums recovered, [CONFIDENTIAL TREATMENT REQUESTED] /*/. 

  

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 6.4 Third Party IP Claims. In the event of (i) a holding in any action or proceeding
enjoining Aegerion or any of its Affiliates or Sublicensees from manufacturing, using, selling, offering for sale, importing, developing or commercializing any Licensed Compounds or Licensed Products, or holding Aegerion or any such other entities
liable for damages for any such activities, in each case such holding unappealable or unappealed within the time allowed for appeal, or (ii) a settlement of any action or proceeding requiring payment of damages by Aegerion or any such party,
Bayer shall refund to Aegerion royalties paid with respect to all Licensed Products affected by such action or proceeding, from the time such action or proceeding is first brought, sufficient to reimburse Aegerion and all such entities for
[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of all damages and costs and expenses paid or incurred by any of them with respect to such action or proceeding attributable to infringement or
misappropriation of any Third Party’s patent or other intellectual property rights, provided that in no event shall Bayer be required to refund more than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) of any such royalties paid by Aegerion, and provided further, in the event that such refund is not sufficient to compensate for such [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of all such
damages and expenses, Aegerion shall be entitled to reduce royalties payable to Bayer by up to [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) hereunder in each subsequent calendar quarter until such
time as Aegerion recovers in full such [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of all such damages and expenses. 
 6.5 Patent Extensions; Orange Book Listings; Patent Certifications. 
 (a) Patent
Term Extension. If elections with respect to obtaining patent term extension or supplemental protection certificates or their equivalents in any country with respect to Bayer Patent Rights or other patent rights covering Licensed Products or
their manufacture or use are available, Aegerion shall have the sole right to make any such elections. 
 (b) Data
Exclusivity and Orange Book Listings. With respect to data exclusivity periods (such as those periods listed in the FDA’s Orange Book (including any available pediatric extensions) or periods under national implementations of Article
10.1(a)(iii) of Directive 2001/EC/83, and all equivalents in any country), Aegerion shall have the sole right to seek and maintain all such data exclusivity periods available for the Licensed Products. 
 (c) Notification of Patent Certification. Bayer shall notify and provide Aegerion with copies of any allegations of alleged patent
invalidity, unenforceability or non-infringement of a Bayer Patent Right pursuant to a Paragraph IV Patent Certification by a Third Party filing an Abbreviated New Drug Application, an application under §505(b)(2) of the United States Federal
Food, Drug, and Cosmetic Act, as amended, or any other similar patent certification by a Third Party, and any foreign equivalent thereof. Such notification and copies shall be provided to Aegerion within two (2) days after Bayer receives such
certification, and shall be sent to the address set forth in Section 10.5. 
 Section 7. Confidential Information and Publicity. 
 7.1 Confidentiality. 
 (a) Confidential Information. Except as expressly provided herein, each of the Parties agrees that, for itself and its Affiliates, and for as long as this Agreement is in effect and for a period of 

  

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ten (10) years thereafter, a Party and its Affiliates (the “Receiving Party”) receiving Confidential Information of the other Party or
its Affiliates (the “Disclosing Party”) shall (i) not disclose such Confidential Information to any Third Party without the prior written consent of the Disclosing Party, except for disclosures expressly permitted below, and
(ii) not use such Confidential Information for any purpose except those licensed or otherwise authorized or permitted by this Agreement. For clarity, all Confidential Information of Aegerion received by or disclosed to Bayer hereunder shall be
used by Bayer only for ensuring that Aegerion complies with its obligations hereunder and for no other purposes. 
 (b)
Exceptions. The obligations in Section 7.1(a) shall not apply with respect to any portion of the Confidential Information that the Receiving Party can show by competent proof: 
 (i) is publicly disclosed by the Disclosing Party, either before or after it is disclosed to the Receiving Party hereunder; 
 (ii) was known to the Receiving Party or any of its Affiliates, without any obligation to keep it confidential or any restriction on its
use, prior to disclosure by the Disclosing Party; 
 (iii) is subsequently disclosed to the Receiving Party or any of its
Affiliates by a Third Party lawfully in possession thereof and without any obligation to keep it confidential or any restriction on its use; 
 (iv) is published by a Third Party or otherwise becomes publicly available or enters the public domain, either before or after it is disclosed to the Receiving Party; or 
 (v) has been independently developed by employees or contractors of the Receiving Party or any of its Affiliates without the aid,
application or use of Confidential Information of the Disclosing Party. 
 (c) Authorized Disclosures. The Receiving
Party may disclose Confidential Information belonging to the Disclosing Party to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 
 (i) subject to Section 7.2, by either Party in order to comply with applicable non-patent law (including any securities law or
regulation or the rules of a securities exchange) and with judicial process, if in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance; 
 (ii) by either Party, in connection with prosecuting or defending litigation, making regulatory filings, and filing, prosecuting and
enforcing patent applications and patents (including Bayer Patent Rights in accordance with Section 6); 
 (iii) by
Aegerion, to its Affiliates, potential and future collaborators (including Sublicensees), permitted acquirers or assignees under Section 10.1, research collaborators, subcontractors, investment bankers, investors, lenders, and their and each of
Aegerion and its Affiliates’ respective directors, employees, contractors and agents; and 
 (iv) by Bayer to its
Affiliates, permitted acquirers or assignees under Section 10.1, investment bankers, investors, lenders, and their and Bayer and its Affiliates’ respective directors, employees, contractors and agents, 
 provided that (1) with respect to Section 7.1(c)(i) or 7.1(c)(ii), where reasonably possible, the Receiving Party shall notify the Disclosing Party of the
Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure so as to allow the Disclosing Party adequate time to take whatever action it may deem appropriate to protect the confidentiality of
the information to be disclosed, and (2) with respect to Sections 7.1(c)(iii) and 7.1(c)(iv), each of those named people and entities must be bound prior to disclosure by confidentiality and non-use restrictions at least as
restrictive 

  

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 LICENSE AGREEMENT 
  

 
as those contained in this Section 7 (other than investment bankers, investors and lenders, who must be bound prior to disclosure by commercially
reasonable obligations of confidentiality). In addition to the foregoing, Aegerion and its Affiliates and Sublicensees may make such disclosures of Bayer Know-How specifically concerning the Licensed Compound and its use as any of them may deem
reasonably necessary for their business. 
 7.2 Terms of this Agreement; Publicity. 
 (a) The Parties agree that the terms of this Agreement shall be treated as Confidential Information of both Parties, and thus may be
disclosed only as permitted by Section 7.1(c). Each Party agrees not to issue any press release or public statement disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof without the prior
written consent of the other Party (or as such consent may be obtained in accordance with Section 7.2(b)), which consent shall not be unreasonably withheld, or as permitted by Section 7.1(c). 
 (b) In the event either Party (the “Issuing Party”) desires to issue a press release or other public statement disclosing
information relating to this Agreement or the transactions contemplated hereby or the terms hereof, the Issuing Party shall provide the other Party (the “Reviewing Party”) with a copy of the proposed press release or public
statement (the “Release”). The Reviewing Party shall have three (3) business days to provide any comments on such Release, and if the Receiving Party fails to provide any comments during such three-day period, the Reviewing
Party shall be deemed to have consented to the issuance of such Release. If the Receiving Party provides any comments, the Parties shall consult on the such Release and work in good faith to prepare a mutually acceptable Release. Either Party may
subsequently publicly disclose any information previously contained in any Release so consented to. 
 7.3 Relationship to the
Confidentiality Agreement. This Agreement supersedes the Confidentiality Agreement, provided that all “Confidential Information” disclosed or received by the Parties thereunder shall be deemed “Confidential Information”
hereunder and shall be subject to the terms and conditions of this Agreement. 
 Section 8. Warranties; Limitations of Liability; Indemnification

 8.1 Bayer Representations and Warranties. Bayer covenants, represents and warrants to Aegerion that as of the Effective Date:

 (a) Bayer is a corporation duly organized, validly existing and in good standing under the laws of state or jurisdiction in
which it is incorporated, and it has full right and authority to enter into this Agreement and to grant the licenses and other rights to Aegerion as herein described. 
 (b) This Agreement has been duly authorized by all requisite corporate action, and when executed and delivered will become a valid and
binding contract of Bayer enforceable against Bayer in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other law affecting creditors’ rights generally from time to time if effect, and to
general principles of equity. 
 (c) The execution, delivery and performance of this Agreement does not conflict with any
other agreement, contract, instrument or understanding, oral or written, to which Bayer is a party, or by which it is bound, nor will it violate any law applicable to Bayer. 
 (d) All necessary consents, approvals and authorizations of all regulatory and governmental authorities and other persons or entities
required to be obtained by Bayer in connection with the execution and delivery of this Agreement and the performance of its obligations hereunder have been obtained. 
 (e) Exhibit A contains a list of all Bayer Know-How in Bayer’s possession as of the Effective Date that Bayer has reasonably
concluded Aegerion will find reasonably necessary or useful for 

  

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 LICENSE AGREEMENT 
  

 
the manufacture, use, sale, offer for sale, importation, research, development or commercialization or other exploitation of any Licensed Compounds or
Licensed Products or Improvements. Attached hereto as Exhibit B is a complete and accurate list of all patents and patent applications owned (in whole or in part) or otherwise Controlled by Bayer or any of its Affiliates that the
manufacture, use, sale, offer for sale or importation of any Licensed Compounds (alone or as part of any Combination Product) would infringe. To the knowledge of Bayer, the issued claims included in the Bayer Patent Rights are valid and enforceable,
and no written claim has been made (except by a patent examiner during prosecution of the patent application(s) that resulted in any such issued patent claims), and no action or proceeding has been commenced or threatened, alleging to the contrary.
Bayer is the sole and exclusive owner of all right, title and interest in and to the Bayer Patent Rights. None of the Bayer Patent Rights or Bayer Know-How is subject to any lien, security interest or other encumbrance. To Bayer’s knowledge,
the conception and reduction to practice of the Bayer Patent Rights have not constituted or involved the misappropriation of trade secrets or other rights or property of any Third Party. There are no claims, judgments or settlements against or
amounts with respect thereto owed by Bayer or any of its Affiliates relating to the Bayer Patent Rights. To Bayer’s knowledge, there has been no infringement by any Third Party of any Bayer Patent Rights. The use or practice of the license
grant contained in Section 2.1 shall not trigger any payment obligation by Bayer or any of its Affiliates or Former Licensees (as defined below) to any Third Party. 
 (f) There is no pending action or proceeding alleging, or, to Bayer’s knowledge, any written communication alleging, that the
manufacture, use, sale, offer for sale or importation of any Licensed Compounds (alone or as part of any Combination Product), the activities of Bayer or any of its Affiliates or any of their licensees with respect to any such Licensed Compounds, or
the practice or use of the Bayer Patent Rights or Bayer Know-How, has or will infringe or misappropriate any patent or other intellectual property rights of any Third Party. Bayer has notified Aegerion of all such rights of any Third Party of which
Bayer is aware that are related to the foregoing activities, including those patents set forth on Exhibit E-1. 
 (g)
Except as set forth in Exhibit E-2: 
 (i) Pharmaceutical Product Development, Inc. (together with its affiliates,
including Medical Research Laboratories International, LLC, collectively “PPD”) and Evan Stein, MD, PhD (“Dr. Stein”) constitute all Former Licensees known to Bayer, wherein “Former Licensees” means Bayer’s former
licensees under any Bayer Patent Rights or Bayer Know-How with respect to any Licensed Compounds and their sublicensees, subcontractors, clinical partners and other collaborators. 
 (ii) Since Bayer has not done an in-depth analysis of IP since 2002 when implitapide was originally out-licensed, Bayer can only represent
that to its knowledge in light of the gap identified, it has sufficient rights (by ownership or license) in and to all Former Licensees IP (as defined below) for all Former Licensee IP to be treated as Bayer Patent Rights and Bayer Know-How
hereunder (including being subject to the exclusive license grant contained in Section 2.1), wherein “Former Licensee IP” means all Technology and patent and other intellectual property rights created or owned or otherwise Controlled
by any Former Licensee or any of its Affiliates, in each case related to the manufacture, use, sale, offer for sale, importation, development or commercialization of any Licensed Compounds. Without limiting the generality of the foregoing, and to
Bayer’s knowledge, PPD does not retain any right, title or interest in or to any Former Licensee IP, and no Former Licensee has filed or obtained any patent rights concerning any of those activities. 
 (iii) To the knowledge of Bayer, no Former Licensee has any supply of Licensed Compounds. 
 (h) To the extent that Bayer has the benefit of any contractual rights from any Former Licensees concerning the development or
commercialization of any Licensed Compounds, Bayer shall 

  

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use commercially reasonable efforts to exercise the same on behalf of Aegerion or any of its Affiliates or Sublicensees upon request (or if not so
commercially reasonable, shall transfer the right to exercise the same to Aegerion or any of its Affiliates or Sublicensees as Aegerion may designate and as may be permitted by the applicable terms). 
 (i) As of the Effective Date, except as set forth in Exhibit E-3, Bayer does not have any knowledge of any scientific or clinical
facts or circumstances that would materially and adversely affect the safety, efficacy or market performance of any Licensed Compounds (alone or as part of any Combination Product) that have not been communicated to Aegerion. 
 8.2 Aegerion Representations and Warranties. Aegerion covenants, represents and warrants to Bayer that as of the Effective Date: 
 (a) Aegerion is a corporation duly organized, validly existing and in good standing under the laws of state in which it is incorporated,
and it has full right and authority to enter into this Agreement and to accept the rights and licenses granted as herein described. 
 (b) This Agreement has been duly authorized by all requisite corporate action, and when executed and delivered will become a valid and binding contract of Aegerion enforceable against Aegerion in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 
 (c) The execution, delivery and performance of this Agreement does not conflict with any other agreement, contract, instrument or
understanding, oral or written, to which Aegerion is a party, or by which it is bound, nor will it violate any law applicable to Aegerion. 
 (d) All necessary consents, approvals and authorizations of all regulatory and governmental authorities and other persons or entities required to be obtained by Aegerion in connection with the execution and delivery
of this Agreement and the performance of its obligations hereunder have been obtained. 
 8.3 Disclaimer. EXCEPT AS EXPRESSLY SET
FORTH HEREIN, NEITHER BAYER NOR AEGERION MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 8.4 Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER PARTY SHALL BE LIABLE TO THE OTHER OR ANY THIRD
PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES; PROVIDED, HOWEVER, THAT THIS SECTION 8.4 SHALL NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER
SECTIONS 8.6(a) AND 8.6(b). 
 8.5 Performance by Affiliates. The Parties recognize that each Party may perform some or all of
its obligations under this Agreement through Affiliates and Third Party contractors provided, however, that each Party shall remain responsible and liable for the performance by its Affiliates and Third Party contractors and shall cause its
Affiliates and Third Party contractors to comply with the provisions of this Agreement in connection therewith. 
 8.6
Indemnification. 
 (a) Aegerion Indemnity. Aegerion hereby agrees to indemnify and hold Bayer and its
Affiliates, and their respective employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“Bayer Indemnitees”) harmless from and against all claims, liability, threatened claims,
damages, expenses (including reasonable attorneys’ fees), suits, proceedings, losses or judgments, whether for money or equitable relief, of any kind, including death, 

  

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personal injury, illness, product liability or property damage or the failure to comply with applicable law (but not infringement or misappropriation of
patents or other intellectual property rights) (collectively, “Losses”), arising from any Third Party claim due to the use, manufacture, sale, development or commercialization of any Licensed Compounds or Licensed Products by or for
Aegerion or any of its Affiliates, Sublicensees, agents and contractors, except to the extent that such Losses arise from (a) the negligence, recklessness or willful misconduct of any Bayer Indemnitees or (b) any breach of this Agreement
by Bayer. 
 (b) Bayer Indemnity. Bayer hereby agrees to indemnify and hold Aegerion, its Affiliates and Sublicensees,
and their respective employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“Aegerion Indemnitees”) harmless from and against all Losses arising from any Third Party claim due
to the use, manufacture, sale, development or commercialization of any Licensed Compounds or Licensed Products by or for Bayer or any of its Affiliates, licensees (other than Aegerion and its Affiliates and Sublicensees), agents and contractors,
except to the extent that such Losses arise from (a) the negligence, recklessness or willful misconduct of any Aegerion Indemnitees or (b) any breach of this Agreement by Aegerion. 
 (c) Indemnification Procedure. A claim to which indemnification applies under Section 8.6(a) or Section 8.6(b) shall be
referred to herein as a “Claim”. If any person or entity (each, an “Indemnitee”) intends to claim indemnification under this Section 8.6, the Indemnitee shall notify the other Party (the “Indemnitor”) in
writing promptly upon becoming aware of any claim that may be a Claim (it being understood and agreed, however, that the failure by an Indemnitee to give such notice shall not relieve the Indemnitor of its indemnification obligation under this
Agreement except and only to the extent that the Indemnitor is actually prejudiced as a result of such failure to give notice). The Indemnitor shall have the right to assume and control the defense of such Claim at its own expense with counsel
selected by the Indemnitor and reasonably acceptable to the Indemnitee; provided, however, that an Indemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the Indemnitee, if representation of such
Indemnitee by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party represented by such counsel in such proceedings. If the Indemnitor does not assume
the defense of such Claim as aforesaid, the Indemnitee may defend such Claim but shall have no obligation to do so. The Indemnitee shall not settle or compromise any Claim without the prior written consent of the Indemnitor, and the Indemnitor shall
not settle or compromise any Claim in any manner which would have an adverse effect on the Indemnitee’s interests, without the prior written consent of the Indemnitee, which consent, in each case, shall not be unreasonably withheld. The
Indemnitee shall reasonably cooperate with the Indemnitor at the Indemnitor’s expense and shall make available to the Indemnitor all pertinent information under the control of the Indemnitee, which information shall be subject to
Section 7.1. 
 8.7 Insurance. Aegerion shall procure and maintain insurance policies for the following coverages with respect to
personal injury, bodily injury and property damage arising out of Aegerion’s performance under this Agreement: (a) during the term of this Agreement, comprehensive general liability, including broad form and contractual liability, in a
minimum amount of $ [CONFIDENTIAL TREATMENT REQUESTED] /*/ combined single limit per occurrence and in the aggregate; (b) prior to the commencement of clinical trials involving any Licensed Products, clinical trials coverage in a minimum amount
of $ [CONFIDENTIAL TREATMENT REQUESTED] /*/ combined single limit per occurrence and in the aggregate; and (c) prior to the First Commercial Sale of the first Licensed Product, product liability coverage, in a minimum amount of $ [CONFIDENTIAL
TREATMENT REQUESTED] /*/ combined single limit per occurrence and in the aggregate, with the coverage provided for in clauses (b) and (c) to remain in force during the term of this Agreement and for at least five (5) years thereafter.
The policies of insurance required by this Section 8.7 shall be issued by an insurance carrier with an A.M. Best rating of “A” or better. Aegerion shall provide Bayer with insurance certificates evidencing the required coverage within
thirty (30) days after the Effective Date and the commencement of each policy period and any renewal periods. 
  

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 Section 9. Term, Termination and Survival. 
 9.1 Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual
written consent, shall continue on a country-by-country and product-by-product basis until the end of the period during which royalties are due hereunder on Net Sales of such Licensed Product in such country. Upon the end of such period for such
Licensed Product in such country, the license grant contained in Section 2.1 shall become perpetual, irrevocable and fully paid up with respect to such Licensed Product in such country. 
 9.2 Termination for Material Default. Either Party shall have the right to terminate this Agreement upon delivery of written notice to the other
Party in the event of any default in the performance by such other Party of any of such other Party’s material obligations under this Agreement, provided that such default has not been cured within [CONFIDENTIAL TREATMENT REQUESTED] /*/
([CONFIDENTIAL TREATMENT REQUESTED] /*/) days, or, in the event such default results in a failure to make payment when due hereunder, [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days, after written notice thereof
is given by the non-defaulting Party to the defaulting Party specifying the nature of the alleged default, provided the Parties shall take all reasonable steps to resolve the matter pursuant to the process set forth in Section 10.6(a) during
the applicable cure period and before any such termination becomes effective. Termination of this Agreement by Bayer under this Section 9.2 shall be on a country-by-country and product-by-product basis (and not for the Agreement as a whole) if
the default giving rise to termination is reasonably specific to one or more countries or one or more products (e.g., a royalty dispute for one product in one or more countries). 
 9.3 Termination for Convenience by Aegerion. Aegerion may terminate this Agreement in full for any reason effective upon [CONFIDENTIAL TREATMENT
REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days prior written notice to Bayer. 
 9.4 Termination for Insolvency. To
the extent permitted by law, upon the filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditors (a “Bankruptcy
Event”) by either Party, Bayer, in the case of a Bankruptcy Event by Aegerion, or Aegerion, in the case of a Bankruptcy Event by Bayer, may terminate this Agreement; provided, however, that, in the case of any involuntary bankruptcy proceeding,
such right to terminate shall only become effective if the subject Party consents to the involuntary bankruptcy or such proceeding is not dismissed within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days
after the filing thereof. Each Party shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code and foreign equivalents, including that upon commencement of a bankruptcy proceeding by or against such
Party undergoing a bankruptcy proceeding (the “Affected Party”) under the U.S. Bankruptcy Code or foreign equivalents, the non-Affected Party shall be entitled to complete duplicates of or complete access to, as such non-Affected
Party deems appropriate, any Technology and patent and other intellectual property rights and all embodiments hereof licensed or to be transferred to such non-Affected Party hereunder by the Affected Party. Such Technology, rights and embodiments
shall be promptly delivered to the non-Affected Party (i) upon any such commencement of a bankruptcy proceeding and upon written request thereof by the non-Affected Party, unless the Affected Party elects to continue to perform all of its
obligations under this Agreement, or (ii) if not delivered under the foregoing clause (i), upon the rejection of this Agreement by or on behalf of the Affected Party upon written request therefore by the non-Affected Party. This
Section 9.4 is without prejudice to any rights the non-Affected Party may have arising under the U.S. Bankruptcy Code, foreign equivalents or other law. 
  

 20 

 LICENSE AGREEMENT 
  

 9.5 Effect of Certain Terminations. Upon termination of this Agreement by Bayer pursuant to
Section 9.2 or 9.4 or by Aegerion pursuant to Section 9.3, or with respect to each applicable product and country as to which termination occurs pursuant to Section 9.2 (the rights and obligations of the Parties as to the remaining
products and countries in which termination under Section 9.2 has not occurred, being unaffected by such termination), all rights and licenses granted to Aegerion in Section 2 shall terminate with respect to each such terminated product and
country, with all rights of Aegerion under Bayer Patent Rights for each such terminated product and country reverting to Bayer, and Section 2.2(b) shall apply to all Sublicensees in each such terminated country for each such terminated product.
Further, upon any such termination and at Bayer’s reasonable request, on a country-by-country and product-by-product basis, Aegerion shall grant to Bayer a license to use, and shall provide to Bayer a copy of, all regulatory approvals, data,
filings and correspondence (including DMFs) then in Aegerion’s Control relating to such product and applicable to such country, but only for the continued development and commercialization of such product in such country, and provided that
(i) all such information shall be treated as Confidential Information of Aegerion hereunder, (ii) such license and use shall be subject to any rights of any Sublicensees that survive any such termination as contemplated by
Section 2.2(b) and this Section 9 (including, if such Sublicensee is an exclusive sublicensee for such product in such country, then there shall not be any such license nor any provision of such information by Aegerion but such Sublicensee
shall agree to be bound to Bayer in place of Aegerion for purposes of this sentence), and (iii) if such termination occurs after Aegerion or any of its Affiliates or Sublicensees has filed for an NDA or its foreign equivalent or has obtained
regulatory approval or has made a First Commercial Sale for such product in such country, then Bayer shall pay to Aegerion commercially reasonable royalties in an amount to be agreed to by the Parties on sales of such product in such country to
reflect the investment in and value contributed by Aegerion and its Affiliates and Sublicensees to the development and commercialization of such product. 
 9.6 Right to Sell-Off Inventory. Upon termination of this Agreement for any reason, should Aegerion or any of its Affiliates or Sublicensees have any inventory of any Licensed Product, each of them shall have
six (6) months thereafter in which to dispose of such inventory (subject to the payment to Bayer of any royalties due hereunder thereon). 
 9.7 Survival. In addition to the termination consequences set forth in Section 9.5, the following provisions shall survive expiration or termination of this Agreement for any reason, as well as any other provision which
by its terms or by the context thereof, is intended to survive such termination: Sections 2.2(b), 2.5, 5.5(d), 5.7, 6.3 (but only with respect to any action or proceeding initiated before such expiration or termination),
6.4, 8.3, 8.4, 8.5 and 8.6, and Section 1, Section 7, Section 9 and Section 10. Expiration or termination of this Agreement for any reason shall not relieve the Parties of any liability or
obligation which accrued hereunder prior to the effective date of such termination or expiration, nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity, subject to Section 10.6, with respect to
any breach of this Agreement nor prejudice either Party’s right to obtain performance of any obligation. 
 Section 10. General Provisions.

 10.1 Assignment. Except as expressly provided by Section 2.1, 2.2 or 8.5, neither Party may assign this Agreement, delegate
its obligations or otherwise transfer licenses or other rights created by this Agreement, without the prior written consent of the other Party, which consent shall not be unreasonably withheld; provided that each Party may assign this Agreement as a
whole without such consent to an Affiliate or in connection with the acquisition (whether by merger, consolidation, sale or otherwise) of such Party or of that part of such Party’s business to which this Agreement relates, provided that such
Party provides written notice to the other Party of such assignment and the assignee thereof agrees in writing to be bound as such Party hereunder. Any assignment or transfer in violation of this Section 10.1 shall be void. This Agreement shall
inure to the benefit of, and be binding upon, the legal representatives, successors and permitted assigns of the Parties. 
  

 21 

 LICENSE AGREEMENT 
  

 10.2 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor
be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement if, but only to the extent that, such failure or delay results from causes beyond the reasonable control of the
affected Party, potentially including fire, floods, embargoes, terrorism, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or
delays in acting by any governmental authority or any other Party; provided that the Party affected shall promptly notify the other of the force majeure condition and shall exert reasonable efforts to eliminate, cure or overcome any such causes and
to resume performance of its obligations as soon as possible. 
 10.3 Severability. If any one or more of the provisions contained in
this Agreement is held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the
invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties shall in such an instance use their reasonable best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable
provision(s) which, insofar as practical, implement the purposes of this Agreement. 
 10.4 Amendment; Waiver. This Agreement may not
be modified, amended or rescinded, in whole or part, except by a written instrument signed by the Parties; provided that any unilateral undertaking or waiver made by one Party in favor of the other shall be enforceable if undertaken in a writing
signed by the Party to be charged with the undertaking or waiver. No delay or omission by either Party hereto in exercising any right or power occurring upon any noncompliance or default by the other Party with respect to any of the terms of this
Agreement shall impair any such right or power or be construed to be a waiver thereof. A waiver by either of the Parties of any of the covenants, conditions or agreements to be performed by the other shall not be construed to be a waiver of any
succeeding breach thereof or of any other covenant, condition or agreement herein contained. 
  

 22 

 LICENSE AGREEMENT 
  

 10.5 Notices. Except as otherwise provided herein, all notices under this Agreement shall be
sent by certified mail or by overnight courier service, postage prepaid, to the following addresses of the respective Parties: 
  

					
	If to Aegerion, to:	 	Aegerion Pharmaceuticals, Inc.
		 	c/o Scheer & Company, Inc.
		 	250 West Main Street
		 	Branford, Connecticut 06405
		 	Attention:	  	President
		
	With a required copy to:	 	Goodwin Procter LLP
		 	53 State Street
		 	Boston, MA 02109
		 	Attention:	  	Kingsley L. Taft, Esq.
		
	If to Bayer, to:	 	Bayer HealthCare AG
		 	Aprather, WEG18A
		 	42096 Wuppertal, Germany
		 	Attention:	  	Dr. Gunnar Riemann, Member of the Board of Management and President of the Pharmaceuticals Division
		
	With a required copy to:	 	Bayer HealthCare
		 	400 Morgan Lane
		 	West haven, CT 06516
		 	Attention:	  	Paul Berry, Senior Vice President, General Counsel and Secretary

 or to such address as each Party may hereafter designate by notice to the other Party. A notice shall be deemed to
have been given on the date it is received by all required recipients for the noticed Party. 
 10.6 Dispute Resolution. Disputes
arising under or in connection with this Agreement shall be resolved pursuant to this Section 10.6; provided, however, that in the event a dispute cannot be resolved without an adjudication of the rights or obligations of a Third Party (other
than a Bayer Indemnitee or Aegerion Indemnitee identified in Sections 8.6(a) or 8.6(b), as applicable), the dispute procedures set forth in this Section 10.6 shall be inapplicable as to such dispute. 
 (a) In the event of a dispute between the Parties, the Parties shall first attempt in good faith to resolve such dispute by negotiation
and consultation between themselves. In the event that such dispute is not resolved on an informal basis within forty-five (45) days, any Party may, by written notice to the other, have such dispute referred to each of the Parties’
respective CEOs or his or her designee (who shall be a senior executive), who shall attempt in good faith to resolve such dispute by negotiation and consultation for a thirty (30) day period following receipt of such written notice. 

(b) In the event the Parties’ CEOs (or designees) are not able to resolve such dispute, either Party may at any time after such
30-day period submit such dispute to be finally settled by arbitration administered in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“AAA”) in effect at the time of submission. The arbitration
shall be heard and determined by three (3) arbitrators. Aegerion and Bayer shall each appoint one arbitrator and the third arbitrator shall be selected by the two Party-appointed arbitrators, or, failing agreement within sixty e(60) days
following the date of receipt by the respondent of the claim, by the AAA. Such arbitration shall take place in New York, NY. The arbitration award so given shall be a final and binding determination of the dispute, shall be fully enforceable in any
court of competent jurisdiction, and shall not include any damages expressly prohibited by Section 8.4. 
  

 23 

 LICENSE AGREEMENT 
  

 (c) Costs of arbitration are to be divided by the Parties in the following manner:
Aegerion shall pay for the arbitrator it chooses, Bayer shall pay for the arbitrator it chooses, and the costs of the third arbitrator shall be divided equally between the Parties. Except in a proceeding to enforce the results of the arbitration or
as otherwise required by law, neither Party nor any arbitrator may disclose the existence, content or results of any arbitration hereunder without the prior written consent of both Parties. 
 10.7 Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the state of New Jersey, without regard to
its conflicts of law provisions. 
 10.8 Further Assurances. Each Party agrees to do and perform all such further acts and things and
shall execute and deliver such other agreements, certificates, instruments and documents necessary or that the other Party may deem advisable in order to carry out the intent and accomplish the purposes of this Agreement and to evidence, perfect or
otherwise confirm its rights hereunder. 
 10.9 Relationship of the Parties. Each Party is an independent contractor under this
Agreement. Nothing contained herein is intended or is to be construed so as to constitute Bayer and Aegerion as partners, agents or joint venturers. Neither Party shall have any express or implied right or authority to assume or create any
obligations on behalf of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. There are no express or implied third party beneficiaries hereunder (except for Aegerion
Indemnitees other than Aegerion and Bayer Indemnitees other than Bayer for purposes of Section 8.6). 
 10.10 Entire Agreement.
This Agreement (along with the Exhibits) contains the entire understanding of the Parties with respect to the subject matter hereof and supersedes and replaces any and all previous arrangements and understandings, including the Confidentiality
Agreement, whether oral or written, between the Parties with respect to the subject matter hereof. 
 10.11 Headings. The captions to
the several Sections hereof are not a part of this Agreement, but are merely guides or labels to assist in locating and reading the several Sections hereof. 
 10.12 Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction
that any ambiguity in this Agreement shall be construed against the drafting party shall not apply. 
 10.13 Interpretation. Whenever
any provision of this Agreement uses the term “including” (or “includes”), such term shall be deemed to mean “including without limitation” (or “includes without limitations”). “Herein,”
“hereby,” “hereunder,” “hereof” and other equivalent words refer to this Agreement as an entirety and not solely to the particular portion of this Agreement in which any such word is used. All definitions set forth
herein shall be deemed applicable whether the words defined are used herein in the singular or the plural. Unless otherwise provided, all references to Sections and Exhibits in this Agreement are to Sections and Exhibits of this Agreement.
References to any Sections include Sections and subsections that are part of the related Section (e.g., a section numbered “Section 2.2” would be part of “Section 2”, and references to
“Section 2.2” would also refer to material contained in the subsection described as “Section 2.2(a)”) 
 10.14 Counterparts; Facsimiles. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Facsimile execution and
delivery of this Agreement by either Party shall constitute a legal, valid and binding execution and delivery of this Agreement by such Party. 
 [Remainder of this Page Intentionally Left Blank] 
  

 24 

 LICENSE AGREEMENT 
  

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

			
	BAYER HEALTHCARE AG
		
	By:	 	/s/ Gunnar Riemann
		 	(Signature)
	Name:	 	Dr. Gunnar Riemann
	Title:	 	Member of the Board of Management and President of the Pharmaceuticals Division
		
	Date:	 	June 5, 2006

  

			
	BAYER HEALTHCARE AG
		
	By:	 	/s/ Alexander Bey
		 	(Signature)
	Name:	 	Alexander Bey
	Title:	 	CAO, Head of Law and Patents
		
	Date:	 	May 31, 2006

  

			
	AEGERION PHARMACEUTICALS, INC.
		
	By:	 	/s/ Gerald Wisler
		 	(Signature)
	Name:	 	Gerald Wisler
	Title:	 	President & CEO
		
	Date:	 	May 24, 2006

 LICENSE AGREEMENT 
  

 EXHIBIT A 
 BAYER KNOW-HOW TO BE TRANSFERRED TO AEGERION 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
 EXHIBIT B-1 
 BAYER PATENT RIGHTS 
 BAYER PATENT RIGHTS UNDER SECTION 1.3(a) 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
  

 LICENSE AGREEMENT 
  

 EXHIBIT B-2 
 BAYER PATENT RIGHTS 
 BAYER IMPROVEMENT PATENTS UNDER SECTION 1.3(b)
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 

 LICENSE AGREEMENT 
  

 EXHIBIT C 
 SUMMARY OF BATCHES IN BAYER’S INVENTORY OF LICENSED COMPOUND 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
  

 EXHIBIT D 
 PROPOSED IMPLITAPIDE CLINICAL DEVELOPMENT PROGRAM 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
  

 EXHIBIT E-1 
 PATENTS UNDER SECTION 8.1(f) 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 

 LICENSE AGREEMENT 
  

 EXHIBIT E-2 
 BAYER’S EXCEPTIONS UNDER SECTION 8.1(g) 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
  

 EXHIBIT E-3 
 BAYER’S EXCEPTIONS UNDER SECTION 8.1(i) 
 Bayer has communicated to Aegerion that Bayer’s
development of the Licensed Compounds was discontinued by Bayer on the basis of a negative risk-benefit assessment of the Licensed Compounds conducted by Bayer under their clinical development program. Aegerion acknowledges Bayer made the judgment
not to continue development of the Compounds due to what it perceived under its clinical development program as unacceptable adverse events for daily dosages of 80 mg and 160 mg per day form compared with the observed cholesterol lowering efficacy.

 Amendment 
 to the
License Agreement concluded between Bayer HealthCare AG (“Bayer”) and Aegerion Pharmaceuticals, Inc. (“Aegerion”) on May 31, 2006 (the “Agreement”) 
  

	 	1.	The following patent rights are herewith added to Exhibit B-1 of the Agreement and shall be regarded as Bayer Patent Rights under Section 1.3(a); 

 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 

	 	2.	All other terms and conditions of the Agreement remain unchanged. 

 Date:
February 15, 2007 
  

					
	 Bayer HealthCare AG
	  		 	
			
	 /s/ Dr. Dieter Linkenheil
	  		 	 /s/ Dr. Markus Albers

	Dr. Dieter Linkenheil	  		 	Dr. Markus Albers
			
	Date: February 15, 2007	  		 	
			
	 /s/ William H. Lewis
	  		 	
	 William H. LewisLOAN AND SECURITY AGREEMENT

 Exhibit 10.16 
 LOAN AND SECURITY AGREEMENT 
 THIS LOAN AND SECURITY AGREEMENT is made and dated as of March 20, 2007
and is entered into by and between AEGERION PHARMACEUTICALS, INC., a Delaware corporation (“Borrower”), with its chief executive office and principal place of business located at 1140 Route 22 East, Suite 304, Bridgewater, NJ 08807 and
HERCULES TECHNOLOGY GROWTH CAPITAL, INC., a Maryland corporation (“Lender”), with its principal place of business located at 400 Hamilton Avenue, Palo Alto, CA 94301. 
 RECITALS 
 WHEREAS, Borrower has requested Lender to make available to Borrower a loan
in an aggregate principal amount of up to $15,000,000 (the “Loan”); and 
 WHEREAS, Lender is willing to make the Loan on the terms
and conditions set forth in this Agreement. 
 AGREEMENT 
 NOW, THEREFORE, Borrower and Lender agree as follows: 
 SECTION 1. DEFINITIONS AND RULES OF CONSTRUCTION 

1.1. Unless otherwise defined herein, the following capitalized terms shall have the following meanings: 
 “Account Control Agreement(s)” means any agreement entered into by and among the Lender, Borrower and a third party Bank or other institution
(including a Securities Intermediary) in which Borrower maintains a Deposit Account or Investment Property and which is intended to perfect Lender’s security interest in any of the Collateral. 
 “Advance” means any funds advanced under this Agreement. 
 “Advance Date” means the funding date of any Advance. 
 “Advance Request” means a
request for an Advance submitted by Borrower to Lender in substantially the form of Exhibit A. 
 “Agreement” means
this Loan and Security Agreement, as the same may from time to time be amended, modified, supplemented or restated from time to time in accordance with the terms hereof. 
 “Borrower Products” means all products, software, service offerings, technical data or technology currently being designed, manufactured or sold by Borrower or which Borrower intends to sell, license, or
distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings, technical data or technology that have been sold, licensed or distributed by Borrower
since its incorporation. 
 “Cash” means all cash and liquid funds. 
 “Closing Date” means the date of this Agreement. 
 “Collateral” means the property described in Section 3. 
 “Contingent Obligation”
means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation
directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that Person, or in respect of which that Person is otherwise 
  

 1. 

 directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit
cards or merchant services issued for the account of that Person; and (iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement
or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices, in each case payable on or prior to the Maturity Date; provided, however, that the term “Contingent
Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation
in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in
any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 
 “Copyrights”
means all copyrights, whether registered or unregistered, held pursuant to the laws of the United States, any State thereof, or of any other country. 
 “Copyright License” means any written agreement granting any right to use any Copyright or Copyright registration, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter
acquires any interest. 
 “Event of Default” has the meaning given to it in Section 9. 
 “Facility Fee” means $127,500, which fee is due to Lender on the Closing Date. 
 “Financial Statements” has the meaning given to it in Section 7.1. 
 “Fully Diluted Capitalization” means, at any given time, the number of shares of Borrower’s (i) common stock issued and outstanding,
and (ii) common stock ultimately issuable upon conversion, exercise or exchange of any outstanding rights to purchase Borrower’s capital stock, including preferred stock, options, warrants, employee stock plans and convertible debt.

 “GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time.

 “Indebtedness” means indebtedness of any kind, including (a) all indebtedness for borrowed money or the deferred purchase
price of property or services, including reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease
obligations, and (d) all Contingent Obligations. 
 “Initial Public Offering” has the meaning given to it in Section 2.2.

 “Intellectual Property” means all Copyrights; Trademarks; Patents; Licenses; trade secrets and inventions; Borrower’s
applications therefor and reissues, extensions, or renewals thereof; and Borrower’s goodwill associated with any of the foregoing, together with Borrower’s rights to sue for past, present and future infringement of Intellectual Property
and the goodwill associated therewith. 
 “Interest Rate” means for any day, the prime rate as reported in The Wall Street Journal
plus two and one-half percentage points (2.50%). 
 “Investment” means any beneficial ownership of or in any Person (including
stock , partnership or limited liability company interests), or any loan, advance or capital contribution to any Person. 
 “Joinder
Agreements” means for each Subsidiary, a completed and executed Joinder Agreement in substantially the form attached hereto as Exhibit G. 
 “Lender” has the meaning given to it in the preamble to this Agreement. 
  

 2. 

 “License” means any Copyright License, Patent License, Trademark License or other license of
rights or interests. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security
interest, encumbrance, levy, lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, any lease in the nature of a security
interest, and the filing of any financing statement (other than a precautionary financing statement with respect to a lease that is not in the nature of a security interest) under the UCC or comparable law of any jurisdiction. 
 “Loan” has the meaning given to it in the recitals to this Agreement. 
 “Loan Documents” means this Agreement, the Notes, Account Control Agreements, Joinder Agreements, all UCC Financing Statements, the Warrant,
and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby, as the same may from time to time be amended, modified, supplemented or restated. 
 “Material Adverse Effect” means a material adverse effect upon: (i) the business, results of operations, or financial condition of
Borrower and its subsidiaries, taken as a whole other than an effect reasonably attributable to (a) the failure of any nonclinical or clinical trial to demonstrate the desired safety or efficacy of any biologic or drug or (b) the denial,
delay or limitation of approval of, or taking of any other regulatory action by, the United States Food and Drug Administration or any other governmental entity with respect to any biologic or drug where, in the case of (a) or (b),
Borrower’s investors provide such confirmation to Lender as Lender reasonably requests that they continue to support Borrower, or (c) the inability of Borrower to consummate the Initial Public Offering; or (ii) the ability of Borrower
to perform the Secured Obligations in accordance with the terms of the Loan Documents, or the ability of Lender to enforce its rights or remedies with respect to the Secured Obligations; or (iii) the Collateral or Lender’s Liens on the
Collateral or the priority of such Liens. 
 “Maturity Date” means either (i) August 19, 2010 or (ii) after the
closing of the Initial Public Offering, November 30, 2010. 
 “Maximum Loan Amount” means $15,000,000. 
 “Maximum Rate” shall have the meaning assigned to such term in Section 2.5. 
 “Merger” means any (i) reorganization, recapitalization, consolidation or merger (or similar transaction or series of related
transactions) of Borrower or any Subsidiary, (ii) sale or exchange of outstanding shares (or similar transaction or series of related transactions) of Borrower or any Subsidiary in which the holders or affiliates thereof of Borrower or
Subsidiary’s outstanding shares immediately before consummation of such transaction or series of related transactions do not, immediately after consummation of such transaction or series of related transactions, retain shares representing at
least more than fifty percent (50%) of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving entity is wholly owned by such parent), in each case
without regard to whether Borrower or Subsidiary is the surviving entity, (iii) sale or exchange of outstanding shares (or similar transaction or series of related transactions) of Borrower or any Subsidiary in which the shares issued after the
Closing Date to persons who are not holders of Borrower’s outstanding shares (or securities convertible into or exercisable for such shares) as of the Closing Date or affiliates thereof would entitle the holders thereof to 50% or more of the
proceeds that would be distributed to holders of Preferred Stock assuming that proceeds available for distribution are sufficient only to provide a distribution to holders of Preferred Stock; (iv) if, in connection with the sale or exchange of
outstanding shares (or a similar transaction or series of related transactions) of Borrower, the valuation (determined by multiplying the per share price of securities sold or issued in such transaction by the Fully Diluted Capitalization) of
Borrower after such transaction is less than forty percent (40%) than such valuation as of the date hereof; (v) sale, lease, license or transfer of any substantial part of the assets of Borrower or any 
  

 3. 

 Subsidiary outside the ordinary course of business; or (vi) acquisition by Borrower or any Subsidiary of all or
substantially all of the capital stock or assets of another Person, provided however, that in all cases a Subsidiary may be merged with or into Borrower or into another Subsidiary or may sell or exchange its outstanding shares to Borrower, without
constituting a “Merger.” 
 “Next Event” means the closing of Borrower’s next round of institutional private equity
financing of at least $15,000,000 which first becomes effective after the Closing Date. 
 “Notes” means the Promissory Notes in
substantially the form of Exhibit B. 
 “Patent License” means any written agreement granting any right with respect to any
invention on which a Patent is in existence or a Patent application is pending, in which agreement Borrower now holds or hereafter acquires any interest. 
 “Patents” means all letters patent of, or rights corresponding thereto, in the United States or in any other country, all registrations and recordings thereof, and all applications for letters patent of, or
rights corresponding thereto, in the United States or any other country. 
 “Permitted Indebtedness” means: (a) Indebtedness
of Borrower in favor of Lender arising under this Agreement or any other Loan Document; (b) Indebtedness existing on the Closing Date and disclosed in Schedule 1A; (c) Indebtedness not to exceed $1,500,000 in the aggregate in any
fiscal year of Borrower secured by a lien described in clause (vi) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such
Indebtedness; (d) Indebtedness to trade creditors or contractual counterparties incurred in the ordinary course of business, including Indebtedness incurred in the ordinary course of business with corporate credit cards; (e) Indebtedness
that also constitutes a Permitted Investment; and (f) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or the terms modified to impose materially more burdensome
terms upon Borrower or its Subsidiary, as the case may be. 
 “Permitted Investment” means: (a) Investments existing on the
Closing Date disclosed in Schedule 1B or made in accordance with the Investment Policy approved by Borrower’s Board of Directors, a copy of which has been delivered to Lender; (b) (i) marketable direct obligations issued or
unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof, (ii) commercial paper maturing no more than one year from the date of creation thereof
and currently having rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service, (iii) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more
than one year from the date of investment therein, and (iv) money market accounts; (c) repurchases of stock from former employees, directors, or consultants of Borrower under the terms of applicable repurchase agreements at the original
issuance price of such securities (i) in an aggregate amount not to exceed $100,000 in any fiscal year, provided that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases, or (ii) in any
amount where the consideration for the repurchase is the cancellation of indebtedness owed by such former employees, directors, or consultants, to Borrower regardless of whether an Event of Default exists; (d) Investments accepted in connection
with Permitted Transfers; (e) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or
suppliers arising in the ordinary course of Borrower’s business; (f) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not affiliates, in the ordinary course
of business, provided that this subparagraph (f) shall not apply to Investments of Borrower in any Subsidiary; (g) additional Investments that do not exceed $100,000 in the aggregate; and (h) Joint ventures or strategic alliances in
the ordinary course of Borrower’s business consisting of the nonexclusive licensing of technology, the development of technology or the providing of technical support, provided that any cash Investments by Borrower do not exceed $100,000 in the
aggregate in any fiscal year. 
  

 4. 

 “Permitted Liens” means any and all of the following: (i) Liens existing on the Closing
Date disclosed in Schedule 1C; (ii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings; provided, that Borrower maintains
adequate reserves therefor in accordance with GAAP; (iii) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like Persons arising in the ordinary course of Borrower’s business
and imposed without action of such parties; provided, that the payment thereof is not yet required; (iv) Liens arising from judgments, decrees or attachments in circumstances which do not constitute an Event of Default hereunder;
(v) the following deposits, to the extent made in the ordinary course of business: deposits under worker’s compensation, unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or
contracts (other than for the repayment of borrowed money) or to secure indemnity, performance or other similar bonds for the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory
obligations (other than liens arising under ERISA or environmental liens) or surety or appeal bonds, or to secure indemnity, performance or other similar bonds; (vi) purchase money liens and liens in connection with capital leases on Equipment
securing Indebtedness permitted in clause (c) of “Permitted Indebtedness”; and (vii) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in
clauses (i) through (vii) above; provided, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or
refinanced (as may have been reduced by any payment thereon) does not increase. 
 “Permitted Transfers” means (i) sales of
Inventory in the normal course of business, (ii) licenses and similar arrangements for the use of property in the ordinary course of business, or (iii) dispositions of worn-out, obsolete or surplus Equipment. 
 “Person” means any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation,
limited liability company, institution, other entity or government. 
 “Preferred Stock” means at any given time any equity
security issued by Borrower that has any rights, preferences or privileges senior to Borrower’s common stock. 
 “Prepayment
Fee” means for each Advance, an amount equal to (i) for a prepayment made on or before the first anniversary of the Closing Date, 2.0% of the remaining principal amount of the Advance prepaid, (ii) for a prepayment made after the
first anniversary, but on or before the second anniversary of the Closing Date, 1.0% of the remaining principal amount of the Advance prepaid, and (iii) for a prepayment made after the second anniversary of the Closing Date, but before the
Maturity Date, 0.5% of the remaining principal amount of the Advance prepaid. Notwithstanding the foregoing, if Borrower completes an Initial Public Offering by September 30, 2007, the Prepayment Fee shall be $0 for any Advance prepaid by
September 30, 2007. 
 “Receivables” means (i) all of Borrower’s Accounts, Instruments, Documents, Chattel Paper,
Supporting Obligations, letters of credit, proceeds of any letter of credit, and Letter of Credit Rights, and (ii) all customer lists, software, and business records related thereto. 
 “Secured Obligations” means Borrower’s obligation to repay to Lender the Loan and all Advances (whether or not evidenced by any Note),
together with all principal, interest, fees, costs, professional fees and expenses, or other liabilities or obligations for monetary amounts owed by Borrower to Lender however arising, including the indemnity and insurance obligations in
Section 6 and including such amounts as may accrue or be incurred before or after default or workout or the commencement of any liquidation, dissolution, bankruptcy, receivership or reorganization by or against Borrower, whether due or to
become due, matured or unmatured, liquidated or unliquidated, contingent or non-contingent, and all covenants and duties of any kind or nature, present or future, in each case, arising under this Agreement, the Notes, or any of the other Loan
Documents, as the same may from time to time be amended, modified, supplemented or restated, whether or not such obligations are partially or fully secured by the value of Collateral. 
  

 5. 

 “Subsidiary” means an entity, whether corporate, partnership, limited liability company, joint
venture or otherwise, in which Borrower owns or controls 50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto. 
 “Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or hereafter acquired by Borrower or in which Borrower now holds or hereafter
acquires any interest. 
 “Trademarks” means all trademarks (registered, common law or otherwise) and any applications in
connection therewith, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or any political subdivision
thereof. 
 “UCC” means the Uniform Commercial Code as the same is, from time to time, in effect in the State of California;
provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect to, Lender’s Lien on any Collateral is governed by the Uniform Commercial Code
as the same is, from time to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial Code as in effect, from time to time, in such other jurisdiction solely for purposes
of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. Unless otherwise defined herein or in the other Loan Documents, terms that are defined in the UCC and
used herein or in the other Loan Documents shall, unless the context indicates otherwise, have the meanings given to them in the UCC. 
 “Warrant” means the warrant entered into in connection with the Loan. 
 1.2. Unless otherwise specified, all references
in this Agreement or any Annex or Schedule hereto to a “Section,” “subsection,” “Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in
or to this Agreement. Unless otherwise specifically provided herein, any accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations
hereunder shall be computed in accordance with GAAP, consistently applied. 
 SECTION 2. THE LOAN 
 2.1. Advances. Subject to the terms and conditions of this Agreement, Lender will make one (1) Advance to Borrower on or about the Closing
Date in an amount equal to (i) $10,000,000 or (ii) such greater amount as Borrower may request, up to the Maximum Loan Amount. If the initial Advance is less than the Maximum Loan Amount, thereafter, at any time through November 19,
2007, Borrower may request additional Advances in the minimum amount of $5,000,000, up to the difference between the Maximum Loan Amount and the amount of the initial Advance. Notwithstanding the foregoing, upon the closing of the Initial Public
Offering, Borrower may request such additional Advances at any time through February 28, 2008. 
 2.2. Repayment. The principal
balance of each Advance shall bear interest thereon from the Advance Date, precomputed at the Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days in each month, through
November 30, 2007. The aggregate principal balance outstanding on November 30, 2007, shall be amortized and shall be payable in 33 equal monthly installments of principal and interest beginning December 1, 2007 and continuing on the
first day of each month thereafter. As the Interest Rate is variable, the interest component of each monthly payment may change over the term of the Advance. The entire principal balance and all accrued but unpaid interest hereunder, shall be due
and payable on August 19, 2010. Notwithstanding the foregoing, upon the 
  

 6. 

 closing of the sale of Borrower’s common stock in an underwritten offering pursuant to the Securities Act of 1933,
as amended, generating gross proceeds of at least $40,000,000 (the “Initial Public Offering”), Borrower may make interest-only payments through February 28, 2008, and the aggregate principal balance then outstanding shall be amortized
and be payable in 33 equal monthly installments of principal and interest beginning March 1, 2008, and continuing on the first day of each month thereafter. In such event, the entire principal balance and all accrued but unpaid interest
hereunder, shall be due and payable on November 30, 2010. Borrower shall make all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. 
 2.3. Advance Request. To obtain an Advance, Borrower shall complete, sign and deliver an Advance Request and Note to Lender. Lender shall fund the
Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Advance is satisfied as of the requested Advance Date. 
 2.4. Prepayment. At its option, at any time after August 30, 2007, Borrower may prepay all, but not less than all, of the outstanding Advances by paying (i) the entire principal balance plus all
accrued interest, (ii) the Prepayment Fee, and (iii) all other sums, if any, that shall have become due and payable hereunder or under the Notes. 
 2.5. Maximum Interest. Notwithstanding any provision in this Agreement, the Notes, or any other Loan Document, it is the parties’ intent not to contract for, charge or receive interest at a rate that is
greater than the maximum rate permissible by law that a court of competent jurisdiction shall deem applicable hereto (which under the laws of the State of California shall be deemed to be the laws relating to permissible rates of interest on
commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall finally determine that Borrower has actually paid to Lender an amount of interest in excess of the amount that would have been payable if all of the Secured
Obligations had at all times borne interest at the Maximum Rate, then such excess interest actually paid by Borrower shall be applied as follows: first, to the payment of principal outstanding on the Notes; second, after all principal
is repaid, to the payment of Lender’s accrued interest, costs, expenses, professional fees and any other Secured Obligations; and third, after all Secured Obligations are repaid, the excess (if any) shall be refunded to Borrower.

 2.6. Default Interest. In the event any payment is not paid within five (5) business days of the scheduled Payment Date, an
amount equal to two percent (2%) of the past due amount shall be payable on demand. In addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest,
compounded interest, and professional fees, shall bear interest at a rate per annum equal to the rate set forth in Section 2.2 plus five percent (5%) per annum. In the event any interest is not paid when due hereunder, delinquent interest
shall be added to principal and shall bear interest on interest, to the extent permitted by law, compounded at the rate set forth in Section 2.2 or Section 2.6, as applicable. 
 2.7. Mandatory Prepayment. The outstanding amount of all principal and accrued interest and unpaid interest will become immediately due and
payable at Lender’s option (1) upon a Merger, or (2) the sale of substantially all assets of the Borrower outside the ordinary course of business unless otherwise agreed to in writing by Lender. 
 SECTION 3. SECURITY INTEREST 
 3.1. As security for the prompt, complete and indefeasible payment when due (whether on the Payment Dates or otherwise) of all the Secured Obligations, Borrower grants to Lender a security interest in all of Borrower’s personal
property now owned or hereafter acquired, including the following: (collectively, the “Collateral”): (a) Receivables; (b) Equipment; (c) Fixtures; (d) General Intangibles (other than Intellectual Property);
(e) Accounts; (f) Inventory; (g) Investment Property; (h) Deposit Accounts; (i) Cash; (j) Goods and other tangible and intangible personal property of Borrower whether now or hereafter owned or existing, leased,
consigned by or to, or acquired by, Borrower and wherever located; and (k) to the extent 
  

 7. 

 not otherwise included, all Proceeds of each of the foregoing and all accessions to, substitutions and replacements for,
and rents, profits and products of each of the foregoing, provided that Collateral does not include Intellectual Property, but does include any proceeds arising out of the disposition of Intellectual Property. 
 SECTION 4. CONDITIONS PRECEDENT TO LOAN 
 The obligations of Lender to make the Loan hereunder are subject to the satisfaction by Borrower of the following conditions: 
 4.1. Initial Advance. On or prior to the Closing Date, Borrower shall have delivered to Lender the following: 
 (a) executed originals of this Agreement, the Loan Documents, the Warrant, Account Control Agreement(s), a legal opinion of Borrower’s counsel, Joinder Agreements, Guaranties, and all other documents and instruments reasonably required
by Lender to effectuate the transactions contemplated hereby or to create and perfect the Liens of Lender with respect to all Collateral, in all cases in form and substance reasonably acceptable to Lender; 
 (b) certified copy of resolutions of Borrower’s board of directors evidencing approval of (i) the Loans and other transactions evidenced by the
Loan Documents; and (ii) the Warrant and transactions evidenced thereby; 
 (c) certified copies of the Certificate of Incorporation and
the Bylaws, as amended through the Closing Date, of Borrower; 
 (d) a certificate of good standing for Borrower from its state of
incorporation and similar certificates from all other jurisdictions in which it does business and where the failure to be qualified would have a Material Adverse Effect; 
 (e) payment of the Facility Fee and reimbursement of Lender’s current expenses reimbursable pursuant to Section 11.11, which amounts may at Borrower’s election be deducted from the initial Advance; and

 (f) such other documents as Lender may reasonably request. 
 4.2. All Advances. On each Advance Date: 
 (a) Lender shall have received (i) an Advance Request
for the relevant Advance as required by Section 2.3, duly executed by Borrower’s Chief Executive Officer or Chief Financial Officer, (ii) a duly executed Note evidencing such Advance, and (iii) any other documents Lender may
reasonably request. 
 (b) The representations and warranties set forth in this Section 4 and in Section 5 and in the Warrant shall
be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date. 
 (c) Borrower shall be in compliance in all material respects with the terms and provisions set forth herein and in each other Loan Document on its part
to be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing. 
 (d) Each Advance Request shall be deemed to constitute a representation and warranty by Borrower on the relevant Advance Date as to the matters specified in paragraphs (b) and (c) of this Section and as to the matters set
forth in the Advance Request. 
 4.3. No Default. As of the Closing Date and each Advance Date, (i) since the delivery of the
most recent financial statements of Borrower delivered in accordance with Sections 7.1(a)-(c), no fact or condition exists that would constitute an Event of Default and (ii) no event that has had or could reasonably be expected to have a
Material Adverse Effect, has occurred and is continuing. 
  

 8. 

 SECTION 5. REPRESENTATIONS AND WARRANTIES OF BORROWER 
 Borrower represents and warrants that: 
 5.1.
Corporate Status. Borrower is a corporation duly organized, legally existing and in good standing under the laws of the State of Delaware, and is duly qualified as a foreign corporation in all jurisdictions in which the nature of its business
or location of its properties require such qualifications and where the failure to be qualified could reasonably be expected to have a Material Adverse Effect. Borrower’s present name, former names (if any), locations, place of formation, tax
identification number, organizational identification number and other information are correctly set forth in Exhibit C. 
 5.2.
Collateral. Borrower owns all right, title and interest in and to the Collateral, free of all Liens whatsoever, except for Permitted Liens. Borrower has the full power and authority to grant and convey to Lender a Lien in the Collateral as
security for the Secured Obligations, free of all other Liens other than Permitted Liens. 
 5.3. Consents. Borrower’s execution,
delivery and performance of the Notes, this Agreement and all other Loan Documents, and Borrower’s execution of the Warrant, (i) have been duly authorized by all necessary corporate action of Borrower, (ii) will not result in the
creation or imposition of any Lien upon the Collateral, other than Permitted Liens and the Liens created by this Agreement and the other Loan Documents, (iii) do not violate any provisions of Borrower’s Certificate of Incorporation,
bylaws, or any, law, regulation, order, injunction, judgment, decree or writ to which Borrower is subject and (iv) except as described on Schedule 5.3, do not violate any contract or agreement or require the consent or approval of any
other Person. The individual or individuals executing the Loan Documents and the Warrant are duly authorized to do so. 
 5.4. Actions
Before Governmental Authorities. Except as described on Schedule 5.4, there are no actions, suits or proceedings at law or in equity or by or before any governmental authority now pending or, to the knowledge of Borrower, threatened
against or affecting Borrower or any business, property or rights of Borrower (i) which seek to prevent, enjoin, hinder or delay the transactions contemplated by the Loan Documents or (ii) as to which there is a reasonable possibility of
an adverse determination and which, if adversely determined, would reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect. 
 5.5. Laws. Borrower is not in violation of any law, rule or regulation, or in default with respect to any judgment, writ, injunction or decree of any governmental authority, where such violation or default is
reasonably expected to result in a Material Adverse Effect. Borrower is not in default in any manner under any provision of any indenture or other agreement, contract or instrument evidencing indebtedness, or any other material agreement, contract
or instrument to which it is a party or by which it or any of its properties or assets are or may be bound and for which such default would reasonably be expected to result in a Material Adverse Effect. 
 5.6. Information Correct. No information, report, Advance Request, financial statement, exhibit or schedule furnished, by or on behalf of Borrower
to Lender in connection with any Loan Document or included therein or delivered pursuant thereto, contained, contains or will contain any material misstatement of fact or, when taken together with all other such information or documents, omitted,
omits or will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are or will be made, not misleading. 
 5.7. Tax Matters. Except as described on Schedule 5.7, (a) Borrower has filed all federal, state and local tax returns that it is
required to file, (b) Borrower has duly paid or fully reserved for all taxes or installments thereof (including any interest or penalties) as and when due, which have or may become due 
  

 9. 

 pursuant to such returns, and (c) Borrower has paid or fully reserved for any tax assessment received by Borrower
for the three (3) years preceding the Closing Date, if any (including any taxes being contested in good faith and by appropriate proceedings). 
 5.8. Intellectual Property Claims. Borrower is the sole owner of, or otherwise has the right to use, the Intellectual Property. Except as described on Schedule 5.8, to the best of Borrower’s knowledge, each of the
material Copyrights, Trademarks and Patents is valid and enforceable, and no part of the Intellectual Property that is owned by Borrower has been judged invalid or unenforceable, in whole or in part, and no claim has been made to Borrower in writing
that any part of the Intellectual Property violates the rights of any third party except to the extent such claim would not reasonably be expected to cause a Material Adverse Effect. Exhibit D is a true, correct and complete list of each
of Borrower’s Patents, registered Trademarks, registered Copyrights, and material agreements under which Borrower licenses Intellectual Property from third parties (other than shrink-wrap software licenses and other licenses which if terminated
could not reasonably be expected to result in a Material Adverse Effect), together with application or registration numbers, as applicable, owned by Borrower or any Subsidiary. Borrower is not in material breach of, nor has Borrower failed to
perform any material obligations under, any of the foregoing contracts, licenses or agreements and, to Borrower’s knowledge, no third party to any such contract, license or agreement is in material breach thereof or has failed to perform any
material obligations thereunder. 
 5.9. Intellectual Property. Except as described on Schedule 5.9, Borrower’s
Intellectual Property constitutes all rights used in or necessary in the operation or conduct of Borrower’s business as currently conducted and currently proposed to be conducted by Borrower. 
 5.10. Borrower Products. Except as described on Schedule 5.10, no Intellectual Property owned by Borrower or Borrower Product is subject to
any pending or, to the knowledge of Borrower, threatened in writing litigation, proceeding (including any proceeding in the United States Patent and Trademark Office or any corresponding foreign office or agency) or outstanding decree, order,
judgment, settlement agreement or stipulation that restricts in any material respect Borrower’s use, transfer or licensing thereof or that could reasonably be expected to adversely affect the validity, use or enforceability thereof. There is no
outstanding decree, order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection with any litigation or proceeding that obligates Borrower to grant licenses or ownership interest in any future Intellectual
Property related to the operation or conduct of the business of Borrower or Borrower Products. There is no outstanding or, to the knowledge of Borrower, threatened in writing, dispute or disagreement of which Borrower is aware with respect to any
contract, license or agreement between Borrower and any third party related to any material component or portion of the Intellectual Property. 
 5.11. Financial Accounts. Schedule 5.11 is a true, correct and complete list of (a) all banks and other financial institutions at which Borrower or any Subsidiary maintains Deposit Accounts and (b) all
institutions at which Borrower or any Subsidiary maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held,
a description of the purpose of the account, and the complete account number therefor. 
 5.12. Employee Loans. Borrower has no
outstanding loans to any employee, officer or director of the Borrower nor has Borrower guaranteed the payment of any loan made to an employee, officer or director of the Borrower by a third party. 
 5.13. Material Adverse Effect. Since the delivery of the most recent financial statements of Borrower delivered in accordance with Sections
7.1(a)-(c), no event that has had or would reasonably be expected to have a Material Adverse Effect has occurred and is continuing, and Borrower is not aware of any event likely to occur that would reasonably be expected to result in a Material
Adverse Effect. 
 5.14. Capitalization. Borrower’s capitalization is set forth on Schedule 5.14 annexed hereto. Borrower
does not own any stock, partnership interest or other equity securities of any Person, except for Permitted Investments. Attached as Schedule 1 hereto is a true, correct and complete list of each Subsidiary, and all information set forth on
Schedule 1 and Schedule 5.14 is true, correct and complete. 
  

 10. 

 SECTION 6. INSURANCE; INDEMNIFICATION 
 6.1. Coverage. So long as there are any Secured Obligations outstanding, Borrower shall cause to be carried and maintained commercial general
liability insurance, on an occurrence form, against risks customarily insured against in Borrower’s line of business. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury,
and contractual liability per the terms of the indemnification agreement found in Section 6.3. Borrower must maintain a minimum of Two Million Dollars ($2,000,000.00) of commercial general liability insurance as primary and/or excess insurance
for each occurrence. So long as there are any Secured Obligations outstanding, Borrower shall also cause to be carried and maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused, in an amount
not less than the full replacement cost of the Collateral. Borrower shall also carry and maintain a fidelity insurance policy in an amount not less than $150,000, together with directors’ and officers’ insurance on terms customary for
companies in Borrower’s line of business and stage of development. 
 6.2. Certificates. Borrower shall deliver to Lender
certificates of insurance that evidence Borrower’s compliance with its insurance obligations in Section 6.1 and the obligations contained in this Section 6.2. Borrower’s insurance certificate shall state Lender is an additional
insured for commercial general liability, an additional insured and a loss payee for all risk property damage insurance, subject to the insurer’s approval, a loss payee for fidelity insurance, and a loss payee for property insurance and
additional insured for liability insurance for any future insurance that Borrower may acquire from such insurer. Attached to the certificates of insurance will be additional insured endorsements for liability and lender’s loss payable
endorsements for all risk property damage insurance. Unless an Event of Default shall have occurred and be continuing, all insurance proceeds shall be paid or turned over to Borrower. All certificates of insurance will provide for a minimum of
thirty (30) days advance written notice to Lender of cancellation. Any failure of Lender to scrutinize such insurance certificates for compliance is not a waiver of any of Lender’s rights, all of which are reserved. 
 6.3. Indemnity. Borrower shall and does hereby indemnify and hold Lender, its officers, directors, employees, agents, in-house attorneys,
representatives and shareholders harmless from and against any and all claims, costs, expenses, damages and liabilities (including such claims, costs, expenses, damages and liabilities based on liability in tort, including strict liability in tort),
including reasonable attorneys’ fees and disbursements and other costs of investigation or defense (including those incurred upon any appeal), that may be instituted or asserted against or incurred by Lender or any such Person as the result of
credit having been extended, suspended or terminated under this Agreement and the other Loan Documents or the administration of such credit, or in connection with or arising out of the transactions contemplated hereunder and thereunder, or any
actions or failures to act in connection therewith, or arising out of the disposition or utilization of the Collateral, excluding in all cases claims to the extent resulting from Lender’s gross negligence willful misconduct or breach of its
obligations under the Loan Documents. Borrower agrees to pay, and to save Lender harmless from, any and all liabilities with respect to, or resulting from any delay in paying, any and all excise, sales or other similar taxes (excluding taxes imposed
on or measured by the net income of Lender) that may be payable or determined to be payable with respect to any of the Collateral or this Agreement. 
 SECTION 7. COVENANTS OF BORROWER 
 Borrower agrees as follows: 
 7.1. Financial Reports. Borrower shall furnish to Lender the Compliance Certificate in the form of Exhibit F monthly within 30 days after
the end of each month and the financial statements listed hereinafter, each prepared in accordance with GAAP, consistently applied (the “Financial Statements”): 
  

 11. 

 (a) as soon as practicable (and in any event within thirty (30) days) after the end
of each month, unaudited interim financial statements as of the end of such month (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and cash flows accompanied by a report
detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have a Material Adverse Effect, all certified by Borrower’s Chief
Executive Officer or Chief Financial Officer; 
 (b) as soon as practicable (and in any event within forty five
(45) days) after the end of each calendar quarter, unaudited interim financial statements as of the end of such calendar quarter (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements
of income and cash flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against Borrower) or any other occurrence that would reasonably be expected to have a Material Adverse
Effect, all certified by Borrower’s Chief Executive Officer or Chief Financial Officer; 
 (c) as soon as practicable
(and in any event within 120 days after the end of each fiscal year), unqualified audited financial statements as of the end of such year (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related
statements of income and cash flows, and setting forth in comparative form the corresponding figures for the preceding fiscal year, certified by Ernst & Young LLP or another firm of independent certified public accountants selected by
Borrower and reasonably acceptable to Lender, accompanied by any management report from such accountants; 
 (d) promptly
after the sending or filing thereof, as the case may be, copies of any proxy statements, financial statements, materials or reports that Borrower has made available to holders of its Preferred Stock and copies of any regular, periodic and special
reports or registration statements that Borrower files with the Securities and Exchange Commission or any governmental authority that may be substituted therefor, or any national securities exchange (including on Forms 10Q and 10K) and; 

(e) budgets, operating plans and other financial information reasonably requested by Lender. 
 The executed Compliance Certificate may be sent via facsimile to Lender at (650) 473-9194 or via e-mail to financialstatements@herculestech.com and
bjadot@herculestech.com. All Financial Statements required to be delivered pursuant to clauses (a), (b) and (c) shall be sent via e-mail to financial statements@herculestech.com and bjadot@herculestech.com
provided, that if e-mail is not available or sending such Financial Statements via e-mail is not possible, they shall be sent via facsimile to Lender at: (650) 473-9194, attention Chief Credit Officer, reference AEGERION PHARMACEUTICALS,
INC. 
 7.2. Management Rights. Borrower shall permit any representative that Lender authorizes, including its attorneys and
accountants, to inspect the Collateral, examine and make copies and abstracts of the books of account and records of Borrower at reasonable times and upon reasonable prior notice during normal business hours. In addition, any such representative
shall have the right to meet with management and officers of Borrower to discuss such books of account and records. In addition, Lender shall be entitled at reasonable times and intervals to consult with and advise the management and officers of
Borrower concerning significant business issues affecting Borrower. Such inspections or consultations shall not unreasonably interfere with Borrower’s business operations. The parties intend that the rights granted Lender shall constitute
“management rights” within the meaning of 29 C.F.R Section 2510.3-101(d)(3)(ii), but that any advice, recommendations or participation by Lender with respect to any business issues shall not be deemed to give Lender, nor be deemed an
exercise by Lender of, control over Borrower’s management or policies. 
  

 12. 

 7.3. Further Assurances. Borrower shall from time to time execute, deliver and file, alone or with
Lender, any financing statements, security agreements, collateral assignments, notices, control agreements, or other documents reasonably requested by Lender to perfect or give the highest priority to Lender’s Lien on the Collateral. Borrower
shall from time to time provide any instruments or documents as may be reasonably requested by Lender, and take all further action that may be necessary or desirable, or that Lender may reasonably request, to perfect and protect the Liens granted
hereby and thereby. In addition, and for such purposes only, Borrower hereby authorizes Lender to execute and deliver on behalf of Borrower and to file such financing statements, collateral assignments, notices, control agreements, security
agreements and other documents without the signature of Borrower either in Lender’s name or in the name of Lender as agent and attorney-in-fact for Borrower. Borrower shall protect and defend Borrower’s title to the Collateral and
Lender’s Lien thereon against all Persons claiming any interest adverse to Borrower or Lender. 
 7.4. Compromise of Agreements.
Borrower shall not (a) grant any material extension of the time of payment of any of the Receivables or General Intangibles, (b) to any material extent, compromise, compound or settle the same for less than the full amount thereof,
(c) release, wholly or partly, any Person liable for the payment thereof in excess of $100,000 in the aggregate, or (d) allow any credit or discount whatsoever thereon other than trade discounts granted by Borrower in the ordinary course
of business of Borrower. 
 7.5. Indebtedness. Borrower shall not create, incur, assume, guarantee or be or remain liable with respect
to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness. 
 7.6. Collateral. Borrower shall at all
times keep the Collateral and all other property and assets used in Borrower’s business or in which Borrower now or hereafter holds any interest free and clear from any legal process or Liens whatsoever (except for Permitted Liens), and shall
give Lender prompt written notice of any legal process affecting the Collateral, such other property and assets, or any Liens thereon. Borrower shall cause its Subsidiaries to protect and defend such Subsidiary’s title to its assets from and
against all Persons claiming any interest adverse to such Subsidiary, and Borrower shall cause its Subsidiaries at all times to keep such Subsidiary’s property and assets free and clear from any legal process or Liens whatsoever (except for
Permitted Liens), and shall give Lender prompt written notice of any legal process affecting such Subsidiary’s assets. 
 7.7.
Investments. Borrower shall not directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments. 
 7.8. Distributions. Borrower shall not, and shall not allow any Subsidiary to, (a) repurchase or redeem any class of stock or other equity
interest other than pursuant to employee, director or consultant repurchase plans stock option plans or agreements, restricted stock agreements or other similar agreements, provided, however, in each case the repurchase or redemption price does not
exceed the original consideration paid for such stock or equity interest, or (b) declare or pay any cash dividend or make a cash distribution on any class of stock, or (c) lend money to any employee, officer or director or guarantee the
payment of any such loan granted by a third party in excess of $200,000 in the aggregate or (d) waive, release or forgive any indebtedness owed by any employee, officer or director in excess of $200,000 in the aggregate. 
 7.9. Transfers. Except for Permitted Transfers, Borrower shall not voluntarily or involuntarily transfer, sell, lease, license, lend or in any
other manner convey any equitable, beneficial or legal interest in any material portion of its assets. 
 7.10. Taxes. Borrower and
its Subsidiaries shall pay when due all taxes, fees or other charges of any nature whatsoever (together with any related interest or penalties) now or hereafter imposed or assessed against Borrower, Lender or the Collateral or upon Borrower’s
ownership, possession, use, operation or disposition thereof or upon Borrower’s rents, receipts or earnings arising therefrom. Borrower shall file on 
  

 13. 

 or before the due date therefor all personal property tax returns in respect of the Collateral. Notwithstanding the
foregoing, Borrower may contest, in good faith and by appropriate proceedings, taxes for which Borrower maintains adequate reserves therefor in accordance with GAAP. 
 7.11. Corporate Changes. Neither Borrower nor any Subsidiary shall change its corporate name, legal form or jurisdiction of formation without twenty (20) days’ prior written notice to Lender. Neither
Borrower nor any Subsidiary shall relocate its chief executive office or its principal place of business unless: (i) it has provided prior written notice to Lender; and (ii) such relocation shall be within the continental United States.
Neither Borrower nor any Subsidiary shall relocate any item of Collateral (other than (x) sales of Inventory in the ordinary course of business, (y) relocations of mobile equipment, or other equipment having an aggregate value of up to
$100,000 in any fiscal year, and (z) relocations of Collateral from a location described on Exhibit C to another location described on Exhibit C) unless (i) it has provided prompt written notice to Lender and (ii) such relocation is
within the continental United States. 
 7.12. Payments. Lender will initiate debit entries to Borrower’s account as authorized
in the ACH Debit Authorization in substantially the form attached as Exhibit H. 
 7.13. Deposit Accounts. Neither Borrower nor any
domestic U.S. Subsidiary shall maintain any Deposit Accounts (other than payroll, trust or escrow accounts), or accounts holding Investment Property, except with respect to which Lender has a perfected security interest in each such account.

 SECTION 8. RIGHT TO PURCHASE STOCK 
 8.1. Lender or its assignee or nominee shall have the right, in its discretion, to purchase shares of Borrower’s securities having an aggregate purchase price of up to $1,500,000 in connection with the Next
Event. Such right shall be upon the same terms and conditions afforded to other investors in the Next Event. 
 SECTION
9. EVENTS OF DEFAULT 
 The occurrence of any one or more of the following events (herein called “Events of Default”) shall
constitute a breach and default under this Loan Agreement, the Notes, and the other Loan Documents: 
 9.1. Payments. Borrower fails to
pay any amount due under this Agreement, the Notes or any of the other Loan Documents on the due date thereof (the “Payment Date”); or 
 9.2. Covenants. Borrower breaches or defaults in the performance of any covenant or Secured Obligation under this Agreement, the Notes, or any of the other Loan Documents, and (a) with respect to a default under any covenant
under this Agreement (other than under Sections 6.1, 7.5, 7.6, 7.7, 7.8 or 7.9) such default continues for more than ten (10) days after the earlier of the date on which (i) Lender has given notice of such default to Borrower and
(ii) Borrower has actual knowledge of such default or (b) with respect to a default under any of Sections 6.1, 7.5, 7.6, 7.7, 7.8 or 7.9, the occurrence of such default; or 
 9.3. Material Adverse Effect. A circumstance has occurred since the delivery of the most recent financial statements of Borrower delivered in
accordance with Sections 7.1(a)-(c) that would reasonably be expected to have a Material Adverse Effect. 
 9.4. Other Loan
Documents. The occurrence of any default under the Warrant, any Loan Document, or any agreement between Borrower and Lender and such default continues for more than ten (10) business days after the earlier of (a) Lender has given
notice of such default to Borrower, or (b) Borrower has actual knowledge of such default; or 
 9.5. Representations. Any
representation or warranty made by Borrower in any Loan Document or in the Warrant shall have been false or misleading in any material respect when made or deemed made; or 
 9.6. Insolvency. Borrower (a) shall make an assignment for the benefit of creditors; or (b) shall admit in writing its inability to pay
its debts as they become due, or its inability to pay or perform under the 
  

 14. 

 Loan Documents; or (c) shall file a voluntary petition in bankruptcy; or (d) shall file any petition, answer,
or document seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation pertinent to such circumstances; or (e) shall seek or
consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of Borrower or of all or any substantial part (i.e., 33-1/3% or more) of the assets or property of Borrower; or (f) shall cease operations of its business as its
business has normally been conducted, or terminate substantially all of its employees, or becomes insolvent; or (g) Borrower or its directors or majority shareholders shall take any action initiating any of the foregoing actions described in
clauses (a) through (f); or either (a) sixty (60) days shall have expired after the commencement of an involuntary action against Borrower seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or
similar relief under any present or future statute, law or regulation, without such action being dismissed or all orders or proceedings thereunder affecting the operations or the business of Borrower being stayed; or (b) a stay of any such
order or proceedings shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (c) Borrower shall file any answer admitting or not contesting the material allegations of a petition filed against Borrower in
any such proceedings; or (d) the court in which such proceedings are pending shall enter a decree or order granting the relief sought in any such proceedings; or thirty (30) days shall have expired after the appointment, without the
consent or acquiescence of Borrower, of any trustee, receiver or liquidator of Borrower or of all or any substantial part of the properties of Borrower without such appointment being vacated; or 
 9.7. Attachments; Judgments. Any portion of Borrower’s assets is attached or seized, or a levy is filed against any such assets, or a
judgment or judgments is/are entered for the payment of money, individually or in the aggregate, of at least $250,000, or Borrower is enjoined or in any way prevented by court order from conducting any part of its business; or  
 9.8. Other Indebtedness. The occurrence of any default under any agreement or obligation of Borrower involving any Indebtedness in excess of
$250,000 or that, when aggregated with any other such defaults would reasonably be expected to have a Material Adverse Effect. 
 SECTION 10. REMEDIES 
 10.1. Upon and during the continuance of any one or more Events of Default, in accordance with
applicable law (i) Lender may, at its option, accelerate and demand payment of all or any part of the Secured Obligations and declare them to be immediately due and payable (provided, that upon the occurrence of an Event of Default of
the type described in Section 9.6, the Notes and all of the Secured Obligations shall automatically be accelerated and made due and payable, in each case without any further notice or act), and (ii) Lender may notify any of Borrower’s
account debtors to make payment directly to Lender, compromise the amount of any such account on Borrower’s behalf and endorse Lender’s name without recourse on any such payment for deposit directly to Lender’s account. Upon and
during the continuance of an Event of Default, the unpaid principal of and accrued interest on the Notes and Advances and all outstanding Secured Obligations, including all professional fees and expenses, shall thereafter bear interest at the
Default Rate. Upon and during the continuance of an Event of Default, Lender may exercise in accordance with applicable law all rights and remedies with respect to the Collateral under the Loan Documents or otherwise available to it under the UCC
and other applicable law, including the right to release, hold, sell, lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral and the right to occupy, utilize, process and commingle the Collateral. All
Lender’s rights and remedies shall be cumulative and not exclusive. 
 10.2. Upon the occurrence and during the continuance of any Event
of Default, Lender may, at any time or from time to time, and in accordance with applicable law, apply, collect, liquidate, sell in one or more sales, lease or otherwise dispose of, any or all of the Collateral, in its then condition or following
any commercially reasonable preparation or processing, in such order as Lender may elect. Any such sale may be made either at public or private sale at its place of business or elsewhere. Borrower agrees that any such 
  

 15. 

 public or private sale may occur upon ten (10) calendar days’ prior written notice to Borrower. Lender may
require Borrower to assemble the Collateral and make it available to Lender at a place designated by Lender that is reasonably convenient to Lender and Borrower. The proceeds of any sale, disposition or other realization upon all or any part of the
Collateral shall be applied by Lender in the following order of priorities: 
 First, to Lender in an amount sufficient to pay in full
Lender’s costs and professionals’ and advisors’ fees and expenses as described in Section 11.12; 
 Second, to
Lender in an amount equal to the then unpaid amount of the Secured Obligations (including principal, interest, and the Default Rate interest), in such order and priority as Lender may choose in its sole discretion; and 
 Finally, after the full, final, and indefeasible payment in Cash of all of the Secured Obligations, to any creditor holding a junior Lien on the
Collateral, or to Borrower or its representatives or as a court of competent jurisdiction may direct. 
 Lender shall be deemed to have acted reasonably in
the custody, preservation and disposition of any of the Collateral if it complies with the obligations of a secured party under the UCC. 
 10.3. Lender shall be under no obligation to marshal any of the Collateral for the benefit of Borrower or any other Person, and Borrower expressly waives all rights, if any, to require Lender to marshal any Collateral. 
 10.4. The rights, powers and remedies of Lender hereunder shall be in addition to all rights, powers and remedies given by statute or rule of law and are
cumulative. The exercise of any one or more of the rights, powers and remedies provided herein shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies of Lender. 
 SECTION 11. MISCELLANEOUS 
 11.1. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid
under such law, such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 
 11.2. Notice. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other
communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served,
given, delivered, and received upon the earlier of: (i) the first business day after transmission by facsimile or hand delivery or deposit with an overnight express service or overnight mail delivery service; or (ii) the third calendar day
after deposit in the United States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows: 
 (a) If to Lender: 
 HERCULES TECHNOLOGY GROWTH CAPITAL, INC. 
 Legal Department 
 Attention: Chief Legal Officer, Bryan Jadot and Parag Shah 
 400 Hamilton Ave. 
 Palo Alto, CA 94025 
 Facsimile: 650-473-9194 
 Telephone: 617-261-6552 
  

 16. 

 (b) If to Borrower: 
 AEGERION PHARMACEUTICALS, INC. 
 Attention: Will Lewis, Chief Financial Officer 
 1140 Route 22 East, Suite 304 
 Bridgewater, NJ 08807 
 Facsimile: 908-541-1155 
 Telephone: 908-704-1300 
 With a copy to: 
 GOODWIN PROCTER LLP 
 Attention: Mark D. Smith 
 53 State Street 
 Boston, MA 02109 
 Facsimile: 617-523-1231 
 or to such other address as each party may designate for itself by like notice. 
 11.3. Entire Agreement; Amendments. This Agreement, the Notes, and the other Loan Documents constitute the entire agreement and understanding of
the parties hereto in respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to
the subject matter hereof or thereof (including Lender’s proposal letter dated February 12, 2007). None of the terms of this Agreement, the Notes or any of the other Loan Documents may be amended except by an instrument executed by each of
the parties hereto. 
 11.4. No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of
this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any provisions of this Agreement. 
 11.5. No Waiver. The powers conferred upon Lender by this
Agreement are solely to protect its rights hereunder and under the other Loan Documents and its interest in the Collateral and shall not impose any duty upon Lender to exercise any such powers. No omission or delay by Lender at any time to enforce
any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by Borrower at any time designated, shall be a waiver of any such right or remedy to which Lender is entitled, nor shall it in any way
affect the right of Lender to enforce such provisions thereafter. 
 11.6. Survival. All agreements, representations and warranties
contained in this Agreement, the Notes and the other Loan Documents or in any document delivered pursuant hereto or thereto shall be for the benefit of Lender and shall survive the execution and delivery of this Agreement. 
 11.7. Successors and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be binding on
Borrower and its permitted assigns (if any). Borrower shall not assign its obligations under this Agreement, the Notes or any of the other Loan Documents without Lender’s express prior written consent, such consent not to be unreasonably
withheld, and any such attempted assignment shall be void and of no effect. Lender may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to Borrower, and all of such rights shall inure to the
benefit of Lender’s successors and assigns. 
 11.8. Governing Law. This Agreement, the Notes and the other Loan Documents have
been negotiated and delivered to Lender in the State of California, and shall have been accepted by Lender in the State of California. Payment to Lender by Borrower of the Secured Obligations is due in the State of 
  

 17. 

 California. This Agreement, the Notes and the other Loan Documents shall be governed by, and construed and enforced in
accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 
 11.9. Consent to Jurisdiction and Venue. All judicial proceedings (to the extent that the reference requirement of Section 11.10 is not applicable) arising in or under or related to this Agreement, the
Notes or any of the other Loan Documents may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Agreement, each party hereto generally and unconditionally:
(a) consents to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County, State of California; (c) agrees not to assert any defense based
on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement, the Notes or the other Loan Documents. Service of process on any party hereto
in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 11.3, and shall be deemed effective and received as set forth in Section 11.3.
Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 
 11.10. Mutual Waiver of Jury Trial / Judicial Reference. 
 (a) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to
apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF BORROWER AND LENDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM,
CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST LENDER OR ITS ASSIGNEE OR BY LENDER OR ITS ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims, including
Claims that involve Persons other than Borrower and Lender; Claims that arise out of or are in any way connected to the relationship between Borrower and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any
equitable or legal relief of any kind, arising out of this Agreement, any other Loan Document. 
 (b) If the waiver of jury trial set forth
in Section 11.11(a) is ineffective or unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable
referee or, if the parties cannot agree, a referee selected by the Presiding Judge of the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery
applicable to such proceeding. 
 (c) In the event Claims are to be resolved by judicial reference, either party may seek from a court of
competent jurisdiction identified in Section 11.11, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise
subject to resolution by judicial reference. 
  

 18. 

 11.11. Professional Fees. Borrower promises to pay Lender’s reasonable, documented
out-of-pocket fees and expenses necessary to finalize the loan documentation, including but not limited to reasonable, documented attorneys fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any
and all reasonable invoiced attorneys’ and other professionals’ fees and expenses incurred by Lender after the Closing Date in connection with or related to: (a) the collection or enforcement of the Loan; (c) the amendment or
modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, sale, lease, liquidation, or disposition of Collateral or the exercise of remedies with
respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to Borrower or the Collateral, and any appeal or review thereof; and (g) any bankruptcy,
restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents, including representing Lender in any adversary proceeding or contested matter
commenced or continued by or on behalf of Borrower’s estate, and any appeal or review thereof. 
 11.12. Confidentiality. Lender
acknowledges that financial statements provided to Lender by Borrower and certain items of Collateral and other information provided to Lender by Borrower (if and to the extent such other information is marked as confidential by Borrower at the time
of disclosure) are confidential and proprietary information of Borrower (the “Confidential Information”). Accordingly, Lender agrees that any Confidential Information it may obtain in the course of acquiring, administering, or perfecting
Lender’s security interest in the Collateral shall not be disclosed to any other person or entity or used in any manner whatsoever, in whole or in part, without the prior written consent of Borrower, except that Lender may disclose any such
information: (a) to its own directors, officers, employees, accountants, counsel and other professional advisors and to its affiliates if Lender in its sole discretion determines that any such party should have access to such information in
connection with such party’s responsibilities in connection with the Loan or this Agreement and, provided that such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions of this
paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the disclosure of Confidential Information; (b) if such information is generally available to the public; (c) if required or
appropriate in any report, statement or testimony submitted to any governmental authority having or claiming to have jurisdiction over Lender; (d) if required or appropriate in response to any summons or subpoena or in connection with any
litigation, to the extent permitted or deemed advisable by Lender’s counsel; (e) to comply with any legal requirement or law applicable to Lender; (f) to the extent reasonably necessary in connection with the exercise of any right or
remedy under any Loan Document, including Lender’s sale, lease, or other disposition of Collateral after the occurrence and during the continuance of an Event of Default; (g) to any participant or assignee of Lender or any prospective
participant or assignee; provided, that such participant or assignee or prospective participant or assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise with the prior consent of Borrower;
provided, that any disclosure made in violation of this Agreement shall not affect the obligations of Borrower or any of its affiliates or any guarantor under this Agreement or the other Loan Documents. 
 11.13. Assignment of Rights. Borrower acknowledges and understands that Lender may sell and assign all or part of its interest hereunder and under
the Note(s) and Loan Documents to any person or entity (an “Assignee”). After such assignment the term “Lender” as used in the Loan Documents shall mean and include such Assignee, and such Assignee shall be vested with all
rights, powers and remedies of Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Lender shall retain all rights, powers and remedies hereby given. No such assignment by Lender shall
relieve Borrower of any of its obligations hereunder. Lender agrees that in the event of any transfer by it of the Note(s), it will endorse thereon a notation as to the portion of the principal of the Note(s), which shall have been paid at the time
of such transfer and as to the date to which interest shall have been last paid thereon. 
  

 19. 

 11.14. Revival of Secured Obligations. This Agreement and the Loan Documents shall remain in full
force and effect and continue to be effective if any petition is filed by or against Borrower for liquidation or reorganization, if Borrower becomes insolvent or makes an assignment for the benefit of creditors, if a receiver or trustee is appointed
for all or any significant part of Borrower’s assets, or if any payment or transfer of Collateral is recovered from Lender. The Loan Documents and the Secured Obligations and Collateral security shall continue to be effective, or shall be
revived or reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Lender, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be
restored or returned by, or is recovered from, Lender or by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment, performance, or transfer
of Collateral had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations shall be deemed, without any further
action or documentation, to have been revived and reinstated except to the extent of the full, final, and indefeasible payment to Lender in Cash. 
 11.15. Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered
shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 
 11.16. No Third Party
Beneficiaries. No provisions of the Loan Documents are intended, nor will be interpreted, to provide or create any third-party beneficiary rights or any other rights of any kind in any person other than Lender and Borrower unless specifically
provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal and solely between the Lender and the Borrower. 
 11.17. Specific Performance. The parties hereto hereby declare that it is impossible to measure in money the damages which will accrue to Lender by reason of Borrower’s failure to perform any of the
obligations under this Agreement and agree that the terms of this Agreement shall be specifically enforceable by Lender. If Lender institutes any action or proceeding to specifically enforce the provisions hereof, any Person against whom such action
or proceeding is brought hereby waives the claim or defense therein that Lender has an adequate remedy at law, and such Person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists. 
 11.18. Publicity. Lender may use Borrower’s name and logo, and include a brief description of the relationship between Borrower and Lender,
in Lender’s marketing materials with prior notice thereof to Borrower. 
  

 20. 

 IN WITNESS WHEREOF, Borrower and Lender have duly executed and delivered this Loan and Security Agreement
as of the day and year first above written. 
  

							
		 	BORROWER:	 	AEGERION PHARMACEUTICALS, INC.
				
		 		 	Signature:	 	 /s/ Gerald Wisler

		 		 	Print Name:	 	Gerald Wisler
		 		 	Title:	 	President and CEO
			
	Accepted in Palo Alto, California:	 		 	
			
		 	LENDER:	 	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
				
		 		 	Signature:	 	 /s/ Scott Harvey

		 		 	Print Name:	 	Scott Harvey
		 		 	Title:	 	Chief Legal Officer

  

 21. 

 Table of Exhibits and Schedules 
  

			
	Exhibit A:	  	Advance Request
		  	Attachment to Advance Request
		
	Exhibit B:	  	Promissory Note
		
	Exhibit C:	  	Name, Locations, and Other Information for Borrower
		
	Exhibit D:	  	Borrower’s Patents, Trademarks, Copyrights and Licenses
		
	Exhibit E:	  	Borrower’s Deposit Accounts and Investment Accounts
		
	Exhibit F:	  	Compliance Certificate
		
	Exhibit G:	  	Joinder Agreement
		
	Exhibit H:	  	ACH Authorization
		
	Schedule 1	  	Subsidiaries
	Schedule 1A	  	Existing Permitted Indebtedness
	Schedule 1B	  	Existing Permitted Investments
	Schedule 1C	  	Existing Permitted Liens
	Schedule 5.3	  	Consents, Etc.
	Schedule 5.5	  	Actions Before Governmental Authorities
	Schedule 5.7	  	Tax Matters
	Schedule 5.8	  	Intellectual Property Claims
	Schedule 5.9	  	Intellectual Property
	Schedule 5.10	  	Borrower Products
	Schedule 5.11	  	Financial Accounts
	Schedule 5.13	  	Capitalization

  

 1. 

 EXHIBIT A 
 ADVANCE REQUEST 
  

					
	 To:
	  	Lender:	  	Date:                     , 2007
		  	Hercules Technology Growth Capital, Inc.	  	
		  	400 Hamilton Avenue	  	
		  	Palo Alto, CA 94301	  	
		  	Facsimile: 650-473-9194	  	
		  	Attn:	  	

 AEGERION PHARMACEUTICALS, INC. (“Borrower”) hereby requests from Hercules Technology Growth Capital,
Inc. (“Lender”) an Advance in the amount of                     Dollars
($            .00) on                     ,
        (the “Advance Date”) pursuant to the Loan and Security Agreement between Borrower and Lender (the “Agreement”). Capitalized words and other terms used but not otherwise
defined herein are used with the same meanings as defined in the Agreement. 
 Please: 
  

					
	(a)	  	Issue a check payable to Borrower	  	______________
			
		  	or	  	
			
	(b)	  	Wire Funds to Borrower’s account	  	______________

					
			
		  	Bank:	  	_____________________
			
		  	Address:	  	____________________________________
			
		  		  	____________________________________
			
		  	ABA Number:	  	____________________________________
			
		  	Account Number:	  	____________________________________
			
		  	Account Name:	  	____________________________________

 Borrower represents that the conditions precedent to the Advance set forth in the Agreement are
satisfied and shall be satisfied upon the making of such Advance, including but not limited to: (i) that since the delivery of the most recent financial statements of Borrower delivered in accordance with Sections 7.1(a)-(c), no Material
Adverse Effect has occurred and is continuing; (ii) that the representations and warranties set forth in the Agreement and in the Warrant are and shall be true and correct in all material respects on and as of the Advance Date with the same
effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance in all material respects with the terms and provisions set forth in
each Loan Document on its part to be observed or performed; and (iv) that as of the Advance Date, no fact or condition exists that would constitute an Event of Default under the Agreement. Borrower understands and acknowledges that Lender has
the right to review the financial information supporting this representation and, based upon such review in its reasonable discretion, Lender may decline to fund the requested Advance if such representation is not true and correct. 
 Borrower hereby represents that Borrower’s corporate status and locations have not changed since the date of this Agreement of, if the Attachment to
this Advance Request is completed, are as set forth in the Attachment to this Advance Request. 
  

 2. 

 Borrower agrees to notify Lender promptly before the funding of the Loan if any of the matters which have
been represented above shall not be true and correct in all material respects on the Advance Date and if Lender has received no such notice before the Advance Date then the statements set forth above shall be deemed to have been made and shall be
deemed to be true and correct as of the Advance Date. 
 Executed as of
                    , 200    . 
  

			
	BORROWER: AEGERION PHARMACEUTICALS, INC.
		
	SIGNATURE:	 	  

	TITLE:	 	Chief Executive Officer or Chief Financial Officer
	PRINT NAME:	 	  

  

 3. 

 ATTACHMENT TO ADVANCE REQUEST 
 Dated:                      
 Borrower hereby represents and warrants to Lender that Borrower’s current name and organizational status is as follows: 

 

			
	Name:	  	Aegerion Pharmaceuticals, Inc.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	__________________________

 Borrower hereby represents and warrants to Lender that the street addresses, cities, states and postal codes of
its current locations are as follows: 
  

			
	Chief Executive Office	  	
	and Principal Place of Business:	  	 1140 Route 22 East, Suite 304
 Bridgewater, NJ
08807

		
	Locations of Collateral:	  	Same as above

  

 4. 

 EXHIBIT B 
 SECURED PROMISSORY NOTE 
  

			
	$15,000,000	 	Advance Date: March 20, 2007
		 	Maturity Date: August     , 2010

 FOR VALUE RECEIVED, AEGERION PHARMACEUTICALS, INC., a Delaware corporation, for itself and each of
its Subsidiaries (the “Borrower”) hereby promises to pay to the order of Hercules Technology Growth Capital, Inc., a Maryland corporation or the holder of this Note (the “Lender”) at 400 Hamilton Avenue, Palo Alto, CA 94301 or
such other place of payment as the holder of this Secured Promissory Note (this “Promissory Note”) may specify from time to time in writing, in lawful money of the United States of America, the principal amount of Fifteen Million Dollars
($15,000,000) together with interest at a floating rate equal to the prime rate as reported in the Wall Street Journal, and if not reported, then the prime rate next reported in the Wall Street Journal, plus two and one-half percentage points
(2.50%) per annum based upon a year consisting of 360 days, with interest computed daily based on the actual number of days in each month. 
 This Promissory Note is the Note referred to in, and is executed and delivered in connection with, that certain Loan and Security Agreement dated March 20, 2007, by and between Borrower and Lender (as the same may from time to time be
amended, modified or supplemented in accordance with its terms, the “Loan Agreement”), and is entitled to the benefit and security of the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement), to which reference is
made for a statement of all of the terms and conditions thereof. All payments shall be made in accordance with the Loan Agreement. All terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise defined
herein. An Event of Default under the Loan Agreement shall constitute a default under this Promissory Note. Reference to the Loan Agreement shall not affect or impair the absolute and unconditional obligation of the Borrowers to pay all principal
and interest and premium, if any, under this Promissory Note upon demand or as otherwise provided herein 
 Borrower waives presentment and
demand for payment, notice of dishonor, protest and notice of protest under the UCC or any applicable law. Borrower agrees to make all payments under this Promissory Note without setoff, recoupment or deduction and regardless of any counterclaim or
defense. This Promissory Note has been negotiated and delivered to Lender and is payable in the State of California. This Promissory Note shall be governed by and construed and enforced in accordance with, the laws of the State of California,
excluding any conflicts of law rules or principles that would cause the application of the laws of any other jurisdiction. 
  

					
	BORROWER FOR ITSELF AND	 		 	
	ON BEHALF OF ITS SUBSIDIARIES:	 	AEGERION PHARMACEUTICALS, INC.
			
		 	By:	 	  

			
		 	Title:	 	  

  

 5. 

 EXHIBIT C 
 NAME, LOCATIONS, AND OTHER INFORMATION FOR BORROWER 
 1. Borrower represents and warrants to Lender
that Borrower’s current name and organizational status as of the Closing Date is as follows: 
  

			
	Name:	  	Aegerion Pharmaceuticals, Inc.
		
	Type of organization:	  	Corporation
		
	State of organization:	  	Delaware
		
	Organization file number:	  	______________________

 2. Borrower represents and warrants to Lender that for five (5) years prior to the Closing
Date, Borrower did not do business under any other name or organization or form except the following: 
 Name: 
 Used during dates of: 
 Type of Organization:

 State of organization: 
 Organization file Number: 
 Borrower’s fiscal year ends on December 31 
 Borrower’s federal employer tax identification number is:
                             
 3. Borrower represents and warrants to Lender that the street addresses, cities, states and postal codes of its current locations as of the Closing Date
are: 
  

			
	Chief Executive Office:	  	1140 Route 22 East, Suite 304
		  	Bridgewater, NJ 08807
		
	Principal Place of Business:	  	Same as above.
		
	Locations of Collateral:	  	Same as above

  

 6. 

 EXHIBIT D 
 [To be attached] 
  

 7. 

 EXHIBIT E 
 RESERVED 

 EXHIBIT F 
 COMPLIANCE CERTIFICATE 
 Hercules Technology Growth Capital, Inc. 
 400 Hamilton Avenue 
 Palo Alto, CA 94301 
 Re: Reference is made to that certain Loan and Security Agreement dated March 20, 2007 and all ancillary
documents entered into in connection with such Loan and Security Agreement all as may be amended from time to time, (hereinafter referred to collectively as the “Loan Agreement”) between Hercules Technology Growth Capital, Inc.
(“Hercules”) as Lender and Aegerion Pharmaceuticals, Inc. (the “Company”) as Borrower. All capitalized terms not defined herein shall have the same meaning as defined in the Loan Agreement. 
 Gentlemen: 
 The undersigned
is an Officer of the Company, knowledgeable of all Company financial matters, and is authorized to provided certification of information regarding the Company; hereby certifies that in accordance with the terms and conditions of the Loan Agreement,
the Company is in compliance in all material respects for the period ending                      of all covenants, conditions and terms and
hereby reaffirms that all representations and warrants contained therein are true and correct in all material respects on and as of the date of this Compliance Certificate with the same effect as though made on and as of such date, except to the
extent such representations and warranties expressly relate to an earlier date, after giving effect in all cases to any standard(s) of materiality contained in the Loan Agreement as to such representations and warranties. Attached are the required
documents supporting the above certification. The undersigned further certifies that these are prepared in accordance with GAAP (except for the absence of footnotes with respect to unaudited financial statement and subject to normal year end
adjustments) and are consistent from one period to the next except as explained below. 
  

					
	 REPORTING REQUIREMENT
	  	 REQUIRED
	  	 CHECK IF ATTACHED

	 Interim Financial Statements
	  	 Monthly within 30 days
	  	
	 Interim Financial Statements
	  	 Quarterly within 45 days
	  	
	 Audited Financial Statements
	  	 FYE within 120 days
	  	

  

			
	 Very Truly Yours,

		
	 By:
	 	  

	 Name:
	 	  

	 Its:
	 	  

  

 20. 

 EXHIBIT G 
 FORM OF JOINDER AGREEMENT 
 JOINDER AGREEMENT 
 This Joinder Agreement (the “Joinder Agreement”) is made and dated as of March 20, 2007, and is entered into by and between
                     (“Subsidiary”), and HERCULES TECHNOLOGY GROWTH CAPITAL, INC., a Maryland corporation, as a Lender. 

RECITALS 
 A. Subsidiary’s
Affiliate, Aegerion Pharmaceuticals, Inc. (“Company”) desires to enter into that certain Loan and Security Agreement dated March 20, 2007, with Lender, as such agreement may be amended (the “Loan Agreement”), together with
the other agreements executed and delivered in connection therewith; 
 B. Subsidiary acknowledges and agrees that it will benefit both
directly and indirectly from Company’s execution of the Loan Agreement and the other agreements executed and delivered in connection therewith; 
 AGREEMENT 
 NOW THEREFORE, Subsidiary and Lender agree as follows: 
  

	1.	The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized terms not defined herein shall have the meaning provided in the Loan
Agreement. 

  

	2.	By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of the Loan Agreement the same as if it were the Borrower (as defined in the Loan Agreement)
under the Loan Agreement, mutatis mutandis, provided however, that Lender shall have no duties, responsibilities or obligations to Subsidiary arising under or related to the Loan Agreement or the other agreements executed and delivered in
connection therewith. Rather, to the extent that Lender has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the other agreements executed and delivered in connection therewith, those duties,
responsibilities or obligations shall flow only to Company and not to Subsidiary or any other person or entity. By way of example (and not an exclusive list): (a) Agent or a Lender’s providing notice to Company in accordance with the Loan
Agreement or as otherwise agreed between Company and Lender shall be deemed provided to Subsidiary; (b) a Lender’s providing an Advance to Company shall be deemed an Advance to Subsidiary; and (c) Subsidiary shall have no right to
request an Advance or make any other demand on Agent or a Lender. 

  

									
		  	SUBSIDIARY:	  	  
	  	
					
		  		  	By:	  	  
	  	
		  		  	Name:	  	  
	  	
		  		  	Title:	  	  
	  	
					
		  		  	Address:	  	  
	  	
					
		  		  	Telephone:	  	  
	  	
		  		  	Facsimile:	  	  
	  	

  

 21. 

									
			
		  	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.	  	
					
		  		  	By:	  	  
	  	
		  		  	Name:	  	  
	  	
		  		  	Title:	  	  
	  	
					
		  		  	Address:	  		  	
				
		  		  	400 Hamilton Avenue	  	
		  		  	Palo Alto, CA 94301	  	
		  		  	Facsimile: 650-473-9194	  	
		  		  	Telephone: 650-289-3060	  	

  

 22. 

 EXHIBIT H 
 FORM OF 
 ACH DEBIT AUTHORIZATION AGREEMENT 
 Hercules Technology Growth Capital, Inc. 
 400 Hamilton Avenue, Suite 310

 Palo Alto, CA 94301 
 Re: Loan and Security
Agreement dated March __, 2007 between AEGERION 
 PHARMACEUTICALS, INC. (“Borrower”) and Hercules Technology Growth Capital, Inc.

 (“Company”) (the “Agreement”) 
 In connection with the above referenced Agreement, the Borrower hereby authorizes the Company to initiate debit entries for the periodic payments due under the Agreement to the Borrower’s account indicated below. The Borrower
authorizes the depository institution named below to debit to such account. 
  

			
	DEPOSITORY NAME	 	BRANCH
		
	CITY	 	STATE AND ZIP CODE
		
	TRANSIT/ABA NUMBER	 	ACCOUNT NUMBER

 This authority will remain in full force and effect so long as any amounts are
due under the Agreement. 
  

			
	AEGERION PHARMACEUTICALS, INC.
		
	By:	 	  

	Date:

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