Document:

EX-10.13

 Exhibit 10.13 

Yale Confidential 
 Confidential Materials
omitted and filed separately with the 
 Securities and Exchange Commission. Double asterisks denote omissions. 

TABLE OF CONTENTS 
  

							
	 1.
	 	BACKGROUND	  	 	1	 
			
	 2.
	 	DEFINITIONS	  	 	1	 
			
	 3.
	 	LICENSE GRANT AND TERM	  	 	6	 
			
	 4.
	 	DUE DILIGENCE	  	 	8	 
			
	 5.
	 	LICENSE ISSUE ROYALTY; LICENSE MAINTENANCE ROYALTY; MILESTONE ROYALTIES	  	 	9	 
			
	 6.
	 	EARNED ROYALTIES; MINIMUM ROYALTY PAYMENTS	  	 	10	 
			
	 7.
	 	SUBLICENSES	  	 	13	 
			
	 8.
	 	CONFIDENTIALITY AND PUBLICITY	  	 	14	 
			
	 9.
	 	REPORTS, RECORDS AND INSPECTIONS	  	 	15	 
			
	 10.
	 	PATENT PROTECTION	  	 	16	 
			
	 11.
	 	INFRINGEMENT AND LITIGATION	  	 	17	 
			
	 12.
	 	USE OF YALE’S NAME	  	 	19	 
			
	 13.
	 	TERMINATION	  	 	19	 
			
	 14.
	 	INDEMNIFICATION; INSURANCE; WARRANTIES	  	 	21	 
			
	 15.
	 	NOTICES	  	 	23	 
			
	 16.
	 	INVENTOR AGREEMENTS	  	 	24	 
			
	 17.
	 	LAWS, FORUM AND REGULATIONS	  	 	24	 
			
	 18.
	 	MISCELLANEOUS	  	 	24	 

 Yale Confidential 
  

THIS AGREEMENT (the “Agreement”) by and between YALE UNIVERSITY, a corporation organized and existing under and by virtue of a
charter granted by the general assembly of the Colony and State of Connecticut and located in New Haven, Connecticut (“YALE”), and Arvinas, Inc., a corporation organized and existing under the laws of the State of Delaware, and with
principal offices located at
                                         
                            (“LICENSEE”) is effective as of as of the date of final execution below
(“EFFECTIVE DATE”). 
 1. BACKGROUND 
  

	1.1.	 In the course of research conducted under YALE auspices, Dr. Craig Crews (and co-workers), in the Department of Molecular, Cell and Developmental Biology at YALE (collectively, the “INVENTORS”), have produced inventions concerning “Technologies for Targeted Degradation of
Proteins” as described in OCR [**] and U.S. Patent [**] (the “INVENTIONS”). 

  

	1.2.	 INVENTORS have assigned, or are obligated to assign, to YALE all of INVENTORS’ right, title and interest
in and to the INVENTIONS and any resulting patents. 

  

	1.3.	 YALE wishes to have the INVENTIONS and any resulting patents commercialized to benefit the public good.

  

	1.4.	 To induce YALE to enter into this Agreement, LICENSEE has agreed under this Agreement to act diligently to
develop and commercialize the LICENSED PRODUCTS for public use throughout the LICENSED TERRITORY (as defined below). 

  

	1.5.	 YALE is willing to grant a license to LICENSEE, subject to the terms and conditions of this Agreement.

  

	1.6.	 In consideration of these statements and mutual promises, YALE and LICENSEE agree to the terms of this
Agreement. 

 2. DEFINITIONS 

The following terms used in this Agreement shall be defined as set forth below: 
  

	2.1.	 “AFFILIATE” shall mean any entity or person that directly or indirectly controls, is controlled by or
is under common control with LICENSEE. For purposes of this definition, “control” means possession of the power to direct the management of such entity or person, whether through ownership of more than fifty percent (50%) of voting
securities, by contract or otherwise. 

  

	2.1.	 “CHANGE OF CONTROL” shall mean: 

  
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	 	(a)	 any transaction or series of related transactions (including, without limitation, any reorganization, share
exchange, consolidation or merger of the LICENSEE with or into any other entity but excluding any sale of capital stock by the LICENSEE for capital raising purposes) (i) in which the holders of the LICENSEE’S outstanding capital stock
immediately before the first such transaction do not, immediately after any other such transaction, retain stock or other equity interests representing at least fifty percent (50%) of the voting power of the surviving entity of such transaction or
(ii) in which at least fifty percent (50%) of the LICENSEE’S outstanding capital stock is transferred (calculated on an as-converted to Common Stock basis); 

 

	 	(b)	 an initial underwritten public offering of LICENSEE’S equity securities under the Securities Act of 1933,
as amended; or 

  

	 	(c)	 a sale or other disposition of all or substantially all of the assets of the LICENSEE. 

 

	2.2.	 “CONFIDENTIAL INFORMATION” shall mean all information disclosed by one party to the other during the
negotiation of or under this Agreement in any manner, whether orally, visually or in tangible form, that relates to LICENSED PATENTS or the Agreement itself, unless such information is subject to an exception described in Article 8.2 or Article 8.4;
provided, however, that CONFIDENTIAL INFORMATION that is disclosed in tangible form shall be marked “Confidential” at the time of disclosure and CONFIDENTIAL INFORMATION that is disclosed orally or visually shall be
identified as confidential at the time of disclosure and subsequently reduced to writing, marked confidential and delivered to the other party within [**] of such disclosure. CONFIDENTIAL INFORMATION shall include, without limitation, materials, know-how and data, technical or non-technical, trade secrets, inventions, methods and processes, whether or not patentable. 

 

	2.3.	 “CONTINUATION ELECTION” shall mean a written election made by LICENSEE (or its successor or assignee)
and delivered to YALE within [**] following a CHANGE OF CONTROL, whereby LICENSEE (or its successor or assignee) elects to continue to receive a license to IMPROVEMENTS under Article 3.5 following such CHANGE OF CONTROL. 

 

	2.4.	 “EARNED ROYALTY” is defined in Article 6.1. 

 

	2.5.	 “EFFECTIVE DATE” is defined in the introductory paragraph of this Agreement. 

 

	2.6.	 “FIELD” shall mean the treatment or prevention of any human disease in which a product mediates
degradation of one or more target proteins except for the following: (a) [**]; and (b) up to [**] additional targets selected by [**] under the terms and conditions set forth in that certain Agreement between YALE, [**]. 

 

	2.7.	 “FIRST SALE” shall mean the first sale to a third party of any LICENSED PRODUCT in any country.

  
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	2.8.	 “IMPROVEMENT” is defined in Article 3.5. 

 

	2.9.	 “IND” shall mean an investigational new drug application filed with the United States Food and Drug
Administration prior to beginning clinical trials in humans in the United States or any comparable application filed with regulatory authorities in or for a country or group of countries other than the United States. 

 

	2.10.	 “INSOLVENT” shall mean that (a) an involuntary proceeding shall have been commenced or an
involuntary petition shall have been filed seeking (i) liquidation, reorganization or other relief in respect of LICENSEE or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy law or (ii) the
appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for LICENSEE or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for a period of 90 days;
or (b) LICENSEE has voluntarily commenced bankruptcy, reorganization, receivership or insolvency proceedings, or any other proceeding under any Federal, state or other law for the relief of debtors. 

 

	2.11.	 “INVENTIONS” and “INVENTORS” are defined in Article 1.1. 

 

	2.12.	 “INVENTOR AGREEMENT” shall mean a consulting or other agreement directly between LICENSEE and
Dr. Craig Crews. 

  

	2.13.	 “LEAD DEVELOPMENT CANDIDATE” shall mean a MEANINGFULLY INVOLVED PRODUCT for which the initiation of pre-IND toxicology studies with GMP material has commenced. 

  

	2.14.	 “LICENSE” is defined in Article 3.1. 

 

	2.15.	 “LICENSED INFORMATION” shall mean all inventions, materials, concepts, processes, information, data, know-how, and the like discovered by the laboratory of Dr. Craig Crews and in the FIELD, and useful for the discovery, development, manufacture, delivery, use or sale of LICENSED PRODUCTS, or for practice of
the LICENSED METHODS, whether or not claimed in a patent or patent application, and that is listed in Appendix C. 

  

	2.16.	 “LICENSED METHODS” shall mean any method, procedure, service or process the practice of which, in the
absence of a license from YALE, would infringe a VALID CLAIM of a LICENSED PATENT or which uses a LICENSED PRODUCT. 

  

	2.17.	 “LICENSED PATENTS” shall mean YALE’s ownership interest in the United States or foreign patent
application(s) and patents(s) listed in Appendix A, together with any continuations, divisionals, and continuations-in-part, to the extent the claims of any such patent
or patent application are directed to subject matter specifically described in the patent applications listed on Appendix A; any reissues, re-examinations, or extensions thereof, or substitutes therefor; and
any reissues, re-examinations, or extensions thereof, or substitutes therefor; and the relevant international equivalents of the foregoing. 

  
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	2.18.	 “LICENSED PRODUCT” shall mean either: 

 

	 	(a)	 any product (including any apparatus or kit) or component part thereof that the manufacture, use, sale, import,
export or practice of which would, in the absence of the LICENSE, infringe a VALID CLAIM of a LICENSED PATENT (each a “VALID CLAIM PRODUCT”); or 

  

	 	(b)	 any product (including any apparatus or kit) or component part thereof in the FIELD that is not included in
(a) above, but was discovered or developed by either YALE or LICENSEE, or in-licensed by LICENSEE, in whole or in part, while Dr. Craig Crews was MEANINGFULLY INVOLVED with LICENSEE or its
SUBLICENSEES or AFFILIATES (each a “MEANINGFULLY INVOLVED PRODUCT”). 

  

	2.19.	 “LICENSED TERRITORY” shall mean worldwide. 

 

	2.20.	 “MEANINGFULLY INVOLVED” with respect to LICENSEE, shall mean a situation whereby Dr. Craig Crews
[**] For the avoidance of doubt, and without limiting the foregoing, the parties agree that Dr. Craig Crews has been MEANINGFULLY INVOLVED with LICENSEE from the date LICENSEE was formed through the EFFECTIVE DATE. For purposes of this Article
2.20, any such arrangement with SUBLICENSEES and AFFILIATES shall be deemed an arrangement with LICENSEE. “MEANINGFULLY INVOLVED” with respect to YALE, shall mean a situation whereby Dr. Craig Crews is serving as an employee or
faculty member (including an emeritus faculty member) at YALE. 

  

	2.21.	 “NDA OR BLA” shall mean either a Biologics License Application or New Drug Application filed with the
U.S. Food and Drug Administration to obtain marketing approval for a LICENSED PRODUCT in the United States, or any comparable application filed with regulatory authorities in or for a country or group of countries other than the United States.

 2.22. “NET SALES” shall mean: 
  

	 	(a)	 the gross amount received from the sale or transfer of the LICENSED PRODUCTS, or from services performed using
or constituting LICENSED PRODUCTS by LICENSEE, SUBLICENSEES or AFFILIATES to third parties, except as set forth in Article 2.22(b), less the following deductions, provided they actually pertain to the disposition of the LICENSED PRODUCTS and are
separately invoiced: 

  

	 	(i)	 all discounts, credits and return allowances; 

 

	 	(ii)	 transportation and insurance; and 

 

	 	(iii)	 duties, taxes and other governmental charges levied on the sale, transportation, delivery or practice of
LICENSED PRODUCTS, but not including income taxes. 

  
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No deductions shall be made for any other costs or expenses, including but not limited to commissions to independents, agents or those on
LICENSEE’s, SUBLICENSEE’s or an AFFILIATE’s payroll or for the cost of collection. 
  

	 	(b)	 “NET SALES” shall not include the gross invoice price for LICENSED PRODUCTS sold to, or services
performed using LICENSED PRODUCTS for, any AFFILIATE unless such AFFILIATE is an end-user of any LICENSED PRODUCT, in which case such consideration shall be included in NET SALES at the average selling price
charged to a third party during the same quarter. 

  

	2.23.	 “PATENT CHALLENGE” shall mean a challenge or opposition to the validity, patentability,
enforceability and/or non-infringement of any of the LICENSED PATENTS or otherwise opposing any of the LICENSED PATENTS. 

 

	2.24.	 “PHASE I CLINICAL TRIAL” shall mean a human clinical trial constituting the initial introduction of
an investigational new drug into humans, as defined in 21 C.F.R §312.21(a) and as practiced according to the standards of the pharmaceutical industry. 

  

	2.25.	 “PHASE II CLINICAL TRIAL” shall mean a human clinical trial conducted to evaluate the effectiveness
of a drug for a particular indication in patients with a disease and to determine the common short-term side effects and risks associated with the drug as defined in 21 C.F.R §312.21(b) and as practiced according to the standards of the
pharmaceutical industry. 

  

	2.26.	 “PHASE III CLINICAL TRIAL” shall mean expanded controlled and uncontrolled human clinical trials
performed after PHASE II CLINICAL TRIAL(S) evidence suggesting effectiveness of an investigational new drug, as defined by 21 C.F.R §312.21(c), and as practiced according to the standards of the pharmaceutical industry for a Phase III clinical
trial and prior to the filing of an NDA or comparable request for marketing approval. 

  

	2.27.	 “REASONABLE COMMERCIAL EFFORTS” shall mean documented efforts that are consistent with those utilized
by companies of similar size and type that have successfully developed products and services similar to LICENSED PRODUCTS and LICENSED METHODS. In determining REASONABLE COMMERCIAL EFFORTS with respect to a particular LICENSED PRODUCT or LICENSED
METHOD, LICENSEE may not reduce such efforts due to the competitive, regulatory or other impact of any other product or method that it owns licenses or is developing or commercializing. 

 

	2.28.	 “SUBLICENSE INCOME” shall mean consideration in any form received by LICENSEE or an AFFILIATE in
connection with a grant by LICENSEE or an AFFILIATE to any SUBLICENSEE of a sublicense, license, option to sublicense or license or other right, privilege or immunity to make, have made, use, sell, have sold, distribute, practice, import or export
LICENSED PRODUCTS, including any license signing fee, license maintenance fee, any fee or other payment pursuant to an option to sublicense or license, unearned portion of any minimum royalty payment received by

  
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	 	LICENSEE, distribution or joint marketing fee, research and development funding in excess of LICENSEE’s cost of performing such research and development, any consideration received for an equity interest in or
other equity investment in LICENSEE to the extent such consideration exceeds the fair market value of the equity or other equity investment interest as determined by an independent appraiser mutually agreeable to the parties. SUBLICENSE INCOME shall
also include the amount of any extension of credit or loan to LICENSEE by such SUBLICENSEE or its affiliate to the extent that such loan is forgiven by such SUBLICENSEE or its affiliate. Notwithstanding any other provision set forth herein,
SUBLICENSE INCOME shall expressly exclude all consideration (a) included within EARNED ROYALTIES or NET SALES by any SUBLICENSEE or (b) paid to LICENSEE, its successors and permitted assigns or their stockholders to acquire any outstanding
securities or any assets of LICENSEE, its successors or permitted assigns (whether through merger, consolidation, assignment or otherwise). 

  

	2.29.	 “SUBLICENSEE” shall mean any third party sublicensed by LICENSEE to make, have made, use, develop,
sell, have sold, import, export or practice any LICENSED PRODUCT, LICENSED METHOD or LICENSED INFORMATION. 

  

	2.30.	 “TERM” is defined in Article 3.4. 

 

	2.29.	 “VALID CLAIM” shall mean a pending, or issued and unexpired claim of a LICENSED PATENT so long as
such claim shall not have been irrevocably abandoned or declared to be invalid in an non-appealable decision of a court or other authority or competent jurisdiction through no fault or cause of LICENSEE.

 3. LICENSE GRANT AND TERM 
  

	3.1.	 Subject to all the terms and conditions of this Agreement, YALE hereby grants to LICENSEE an exclusive license,
subject to the reservation of rights by YALE under Article 3.3, under the LICENSED PATENTS to make, have made, use, develop, sell, have sold, import and export LICENSED PRODUCTS, to use, perform and practice any LICENSED METHOD and use the LICENSED
INFORMATION within the FIELD in the LICENSED TERRITORY (the “LICENSE”). 

  

	3.2.	 To the extent that any invention included within the LICENSED PATENTS has been funded in whole or in part by
the United States government, the United States government retains certain rights in such invention as set forth in 35 U.S.C. §200-212 and all regulations promulgated thereunder, as amended, and any
successor statutes and regulations (the “Federal Patent Policy”). As a condition of the license granted hereby, LICENSEE acknowledges and shall comply with all aspects of the Federal Patent Policy that are applicable to the LICENSED
PATENTS, including any obligation that LICENSED PRODUCTS used or sold in the United States be manufactured substantially in the United States. Nothing contained in this Agreement obligates or shall obligate YALE to take any action that would
conflict in any respect with its past, current or future obligations to the United States Government under the Federal Patent Policy with respect to the LICENSED PATENTS. 

  
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	3.3.	 The LICENSE is expressly made subject to YALE’s reservation of the right, on behalf of itself and all
other non-profit academic research institutions, to make, use and practice the LICENSED PATENTS, LICENSED METHODS, and LICENSED INFORMATION for research, clinical, teaching or other non-commercial purposes, and not for purposes of commercial development, use, manufacture or distribution. 

  

	3.4.	 Unless terminated earlier as provided in Article 13, the term of this Agreement (the “TERM”) shall
commence on the EFFECTIVE DATE and shall automatically expire: (a) on a country-by-country basis, for VALID CLAIM PRODUCTS, on the date on which the last of the
VALID CLAIMS of the applicable patents in the LICENSED PATENTS in such country expires, lapses or is declared to be invalid by a non-appealable decision of a court or other authority of competent jurisdiction
through no fault or cause of LICENSEE; or (b) for MEANINGFULLY INVOLVED PRODUCTS that are not VALID CLAIM PRODUCTS, ten (10) years after FIRST SALE of such LICENSED PRODUCTS. 

 

	3.5.	 While Dr. Craig Crews is MEANINGFULLY INVOLVED with both LICENSEE and YALE, YALE shall notify LICENSEE of
any invention, whether patentable or not, invented in the laboratory of Dr. Craig Crews, that is in the FIELD, disclosed to YALE’s Office of Cooperative Research, that LICENSEE does not then have rights to under the LICENSE, that is owned
or controlled by YALE, and that would otherwise be dominated by, incorporates or uses the LICENSED PATENTS as listed in Appendix A on the EFFECTIVE DATE (an “IMPROVEMENT”). YALE shall amend this Agreement to include such IMPROVEMENT as
LICENSED INFORMATION or a LICENSED PATENT, as appropriate, subject to the rights of any non-profit sponsor of the research leading to such IMPROVEMENT (which sponsor, except for the United States federal
government, shall not have the right to license, sublicense, assign or otherwise grant such rights to any person or entity, other than for non-profit purposes, and not for purposes of commercial development,
use, manufacture or distribution); provided that LICENSEE acknowledges and agrees that to the extent that any IMPROVEMENT is jointly owned by YALE and another institution, the license to LICENSEE with respect to such IMPROVEMENT shall grant only
YALE’S interest in such IMPROVEMENT. Following a CHANGE OF CONTROL, unless LICENSEE (or its successor or assignee) makes a CONTINUATION ELECTION within [**] following such CHANGE OF CONTROL, LICENSEE’S (or its successor’s or
assignee’s) rights under this Article 3.5 shall terminate upon the expiration of such [**] period; provided that if LICENSEE (or its successor or assignee) makes a CONTINUATION ELECTION within such [**] period, then LICENSEE’S (or its
successor’s or assignee’s) rights under this Article 3.5 shall continue in full force and effect. The lab of Dr. Craig Crews at YALE shall not conduct any sponsored research, collaboration or other similar arrangement in the FIELD
(a) with any for-profit company while Dr. Craig Crews is MEANINGFULLY INVOLVED with LICENSEE, other than with [**] under the terms of the [**] or (b) with any person or entity unless YALE
retains the right to grant LICENSEE the rights set forth in this Article 3.5. 

  
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	3.6.	 Except as expressly provided in this Agreement, nothing in this Agreement shall be construed to grant, by
implication or estoppel, any licenses under patents of YALE other than the LICENSED PATENTS. Except as expressly provided in this Agreement, under no circumstances will LICENSEE, as a result of this Agreement, obtain any interest in or any other
right to any technology, know-how, patents, patent applications, materials or other intellectual or proprietary property of YALE. 

4. DUE DILIGENCE 
  

	4.1.	 LICENSEE has designed a plan for developing and commercializing the LICENSED PATENTS that includes a
description of research and development, testing, government approval, manufacturing, marketing and sale or lease of LICENSED PRODUCTS (“PLAN”). A copy of the PLAN is attached to this Agreement as Appendix B and incorporated herein by
reference. 

  

	4.2.	 LICENSEE shall use REASONABLE COMMERCIAL EFFORTS, within sixty (60) days after the EFFECTIVE DATE of this
Agreement, to begin to implement the PLAN at its sole expense and thereafter to fully implement the PLAN and to diligently commercialize and develop markets for the LICENSED PRODUCTS. 

 

	4.3.	 Within [**] after each anniversary of the EFFECTIVE DATE, LICENSEE shall provide YALE with an updated and
revised copy of the PLAN, which shall indicate LICENSEE’s progress and problems to date in development and commercialization of LICENSED PRODUCTS and a forecast and schedule of major events required to market the LICENSED PRODUCTS. Such updated
PLAN shall clearly indicate which of LICENSEE’s products or services are LICENSED PRODUCTS, which VALID CLAIMS, if any, claim such LICENSED PRODUCT, and which of LICENSEE’s products or services are VALID CLAIM PRODUCTS.

  

	4.4.	 At least [**] following any assignment by LICENSEE pursuant to Article 18.6, the assignee shall provide YALE
with an updated and revised copy of the PLAN. 

  

	4.5.	 LICENSEE shall immediately send YALE a notice of abandonment if at any time LICENSEE abandons or suspends its
research, development or marketing of all LICENSED PRODUCTS, or its intent to research, develop and market all LICENSED PRODUCTS. 

  

	4.6.	 LICENSEE agrees that YALE shall be entitled to terminate this Agreement upon the occurrence of any of the
following: 

  

	 	(a)	 LICENSEE shall fail to provide the written reports as provided in Article 4.3 which is not cured within [**]
after LICENSEE’S receipt of written notice thereof from YALE; 

  

	 	(b)	 LICENSEE gives notice pursuant to Article 4.5; or 

 

	 	(c)	 LICENSEE or its SUBLICENSEES or AFFILIATES has failed to: 

 

	 	(i)	 Receive a minimum of [**] Dollars ($[**]) in financing within [**] of the EFFECTIVE DATE; or

  
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	 	(ii)	 Receive a minimum of [**] Dollars ($[**]) in financing within [**] of the EFFECTIVE DATE; or

  

	 	(iii)	 incur documented direct expenditures of a minimum of [**] Dollars ($[**]) annually towards the discovery,
development, manufacture, or sale of LICENSED PRODUCTS in any given year following the EFFECTIVE DATE; or 

  

	 	(iv)	 [**]; provided however that such deadline may be extended up to [**]; or 

 

	 	(v)	 [**], LICENSEE, its SUBLICENSEES or AFFILIATES has failed to demonstrate ongoing clinical development of
LICENSED PRODUCTS, which shall be evidenced by conducting at least one of the following activities in any given [**] period starting from the date of [**]:  

 

	 	a.	 [**]; 

  

	 	b.	 [**]; 

  

	 	c.	 [**]; 

  

	 	d.	 [**]; 

  

	 	e.	 [**]; 

  

	 	f.	 [**]; or 

  

	 	g.	 [**]. 

5. LICENSE ISSUE ROYALTY; LICENSE MAINTENANCE ROYALTY; MILESTONE ROYALTIES 

 

	5.1.	 LICENSEE shall pay to YALE within [**] after the EFFECTIVE DATE a
non-refundable license issue royalty of One Hundred Forty-nine Thousand Five Hundred Eleven Dollars ($149,511), which is the estimated amount of unreimbursed patent expenses related to the LICENSED PATENTS
incurred prior to the EFFECTIVE DATE. 

  

	5.2.	 During the TERM of this Agreement, LICENSEE agrees to pay to YALE an annual license maintenance royalty
(“LMR”) commencing on the first anniversary of the EFFECTIVE DATE and every anniversary thereafter until the FIRST SALE according to the following schedule: 

 

					
	 Anniversaries of the EFFECTIVE DATE
	  	LMR	 
	 Anniversary 1
	  	 	[**]	 
	 [**]
	  	 	[**]	 
	 [**]
	  	 	[**]	 
	 [**]
	  	 	[**]	 
	 [**]
	  	 	[**]	 

  
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All LMR payments made by LICENSEE shall be creditable towards EARNED ROYALTY payment obligations accrued in the same calendar year. 

 

	5.3.	 LICENSEE shall pay the following milestone royalties to YALE for the first LICENSED PRODUCT developed by
LICENSEE, SUBLICENSEE, or AFFILIATES: 

  

	 	(a)	 a non-refundable milestone royalty of [**] Dollars ($[**]) upon [**].

  

	 	(b)	 a non-refundable milestone royalty of [**] Dollars ($[**]) upon
[**]. 

  

	 	(c)	 a non-refundable milestone royalty of [**] Dollars ($[**]) upon [**].

  

	 	(d)	 a non-refundable milestone royalty of [**] Dollars ($[**]) upon [**].

  

	 	(e)	 a non-refundable milestone royalty of [**] Dollars ($[**]) upon [**]. 

 

	 	(f)	 a non-refundable milestone royalty of [**] Dollars ($[**]) upon [**].

 For the second LICENSED PRODUCT developed by LICENSEE, SUBLICENSEE, or AFFILIATES that achieves the above milestones,
the above milestone royalties shall be reduced by [**] percent ([**]%). No payments shall be due or payable for any LICENSED PRODUCTS other than the first and second LICENSED PRODUCTS developed by LICENSEE, SUBLICENSEE, or AFFILIATES. 

Neither the license issue royalty set forth in Article 5.1 nor the milestone royalties in Article 5.3 shall be credited against EARNED
ROYALTIES payable under Article 6.1. 
 6. EARNED ROYALTIES; MINIMUM ROYALTY PAYMENTS 

 

	6.1.	 During the TERM of this Agreement, as partial consideration for the LICENSE, LICENSEE shall pay to YALE an
earned royalty (“EARNED ROYALTY”), without duplication, equal to (a) [**] percent ([**]%) of worldwide NET SALES of VALID CLAIM PRODUCTS received by LICENSEE or its SUBLICENSEES or AFFILIATES and (b) [**] percent ([**]%) of worldwide NET
SALES of MEANINGFULLY INVOLVED PRODUCTS received by LICENSEE or its SUBLICENSEES or AFFILIATES; provided that, upon a CHANGE OF CONTROL, such [**] percent ([**]%) royalty shall only apply to NET SALES of MEANINGFULLY INVOLVED PRODUCTS that are LEAD
DEVELOPMENT CANDIDATES as of the time of such CHANGE OF CONTROL (which LICENSEE and YALE shall mutually agree upon in writing at such time), and not on any NET SALES of MEANINGFULLY INVOLVED PRODUCTS that are not LEAD DEVELOPMENT CANDIDATES as of
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	 	CHANGE OF CONTROL. If LICENSEE (or its successor or assignee) provides a CONTINUATION ELECTION to YALE within such [**] period, then such [**] percent ([**]%) royalty shall apply to NET SALES of all MEANINGFULLY
INVOLVED PRODUCTS. 

  

	6.2.	 In the event that LICENSEE is legally required to pay royalties or other amounts to an unaffiliated third party
for a license to a third party issued patent that the LICENSED PRODUCTS would otherwise infringe, then the amounts owed to YALE on NET SALES of the same LICENSED PRODUCT shall be reduced by [**] percent ([**]%) of the amounts due to such third party
in the same calendar year; provided that in no event shall the royalty payable to YALE from LICENSEE on any LICENSED PRODUCT be reduced below [**]% of NET SALES received by LICENSEE or its SUBLICENSEES or AFFILIATES. 

 

	6.3.	 In the event that (i) LICENSEE or any of its AFFILIATES or SUBLICENSEES brings a PATENT CHALLENGE anywhere
in the world, or (ii) LICENSEE or any of its AFFILIATES or SUBLICENSEES assists another party in bringing a PATENT CHALLENGE anywhere in the world (except as required under a court order or subpoena), then the following provisions shall apply:

  

	 	(a)	 All payments due to YALE under this Agreement other than patent costs shall be tripled during the pendency of
such PATENT CHALLENGE and shall remain payable to YALE when due; provided that, notwithstanding the foregoing, if a FIRST SALE has been made in the country in which such PATENT CHALLENGE has been brought, then only EARNED ROYALTIES due in such
country shall be tripled during the pendency of such PATENT CHALLENGE. 

  

	 	(b)	 If such PATENT CHALLENGE is inconclusive or results in a determination that at least one challenged claim is
both valid and infringed, 

 (1) all payments due to YALE under this Agreement other than patent costs shall be tripled
for the remainder of the TERM of the Agreement; provided that, notwithstanding the foregoing, once a FIRST SALE has been made in the country in which such PATENT CHALLENGE has been brought, then only EARNED ROYALTIES due in such country shall be
tripled. 
 (2) LICENSEE shall promptly reimburse YALE for all legal fees and expenses incurred in YALE’s defense against such PATENT
CHALLENGE. 
  

	 	(c)	 In the event that such PATENT CHALLENGE is successful, LICENSEE will have no right to recoup any payments made
prior to the final, non-appealable determination of a court of competent jurisdiction. 

  

	6.4.	 Neither LICENSEE nor any of its AFFILIATES or SUBLICENSEES shall bring a PATENT CHALLENGE without first
providing YALE at least [**] prior written notice setting forth (a) precisely which claims and patents are being challenged or claimed not to be infringed, (b) a clear statement of the factual and legal basis for the challenge, and
(c) an identification of all prior art and other matter believed to invalidate any claim of the LICENSED PATENT or which supports the claim that the LICENSED PATENT is not infringed. 

  
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	6.5.	 LICENSEE shall pay all EARNED ROYALTIES accruing to YALE within [**] from the end of each calendar quarter
(March 31, June 30, September 30 and December 31), beginning in the first calendar quarter in which NET SALES occur. LICENSEE shall report all EARNED ROYALTIES and other payments accruing to YALE on a quarterly basis, but shall defer
payments accruing to YALE that do not, in total, exceed [**] Dollars ($[**]) in any given quarter until the earlier of (1) the end of the calendar year, or (2) the quarter upon which the cumulative accrued EARNED ROYALTIES or other
payments exceed [**] Dollars ($[**]). 

  

	6.6.	 During the term of this Agreement, LICENSEE agrees to pay YALE annual Minimum Royalty Payments
(“MRP”), commencing on the first January 1 to occur after the date of the FIRST SALE that results in NET SALES. The MRP shall be payable to YALE in the amounts indicated in the following schedule: 

 

					
	 Years after FIRST SALE
	  	MRP	 
	 [**]
	  	$	200,000	 
	 [**]
	  	 	[**]	 
	 [**]
	  	 	[**]	 
	 [**]
	  	$	500,000	 

  

	6.7	 LICENSEE shall continue to pay the MRP until the end of the TERM. With respect to each calendar year in which a
MRP is payable hereunder, LICENSEE shall pay YALE, within [**] from the end of each calendar quarter in such calendar year (March 31, June 30, September 30 and December 31), [**] percent ([**]%) of such MRP. YALE shall fully credit each
MRP made against any EARNED ROYALTIES payable by LICENSEE in the same calendar year. 

  

	6.8	 All EARNED ROYALTIES and other payments due under this Agreement shall be paid to YALE in United States
Dollars. In the event that conversion from foreign currency is required in calculating a payment under this Agreement, the exchange rate used shall be the Interbank rate quoted by Citibank at the time the payment is due. If overdue, the royalties
and any other payments due under this Agreement shall bear interest until payment at a per annum rate [**] percent ([**]%) above the prime rate in effect at Citibank on the due date and YALE shall be entitled to recover reasonable attorneys’
fees and costs related to the collection of royalties or other payments following such failure to pay. The payment of such interest shall not foreclose YALE from exercising any other right it may have as a consequence of the failure of LICENSEE to
make any payment when due. If LICENSEE is required by law to withhold any tax from the payment of royalties to YALE, LICENSEE will, at YALE’S request, provide documentation showing that the amount withheld was paid to the appropriate tax
authorities. 

  
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7. SUBLICENSES 
  

	7.1.	 LICENSEE shall have the unrestricted right to sublicense, through one or more tiers of sublicensees, any of the
LICENSED PATENTS, LICENSED METHODS and LICENSED INFORMATION in the LICENSED TERRITORY granted to it under this Agreement without the consent of YALE. In the event that LICENSEE grants such a sublicense, the provisions of Articles 7.2, 7.3 and 7.4
shall apply. 

  

	7.2.	 Any sublicense granted by LICENSEE shall not diminish the protections and benefits provided to YALE hereunder
in any material respect. LICENSEE will provide YALE with a copy of each sublicense agreement (and all amendments thereof) promptly after execution, which may be redacted for any sensitive information of SUBLICENSEE, provided that such redacted copy
contains sufficient detail for YALE to determine that such sublicense does not materially diminish the protections and benefits afforded to YALE by the LICENSE. LICENSEE shall remain responsible for the performance of all SUBLICENSEES under any such
sublicense as if such performance were carried out by LICENSEE itself, including, without limitation, the payment of any royalties or other payments provided for hereunder, regardless of whether the terms of any sublicense provide for such amounts
to be paid by the SUBLICENSEE directly to YALE. 

  

	7.3.	 During the period in which LICENSEE is obligated to pay EARNED ROYALTIES to YALE under Article 6.1, LICENSEE
shall pay royalties to YALE on NET SALES of SUBLICENSEES based on the same royalty rate as apply to NET SALES by LICENSEE and its AFFILIATES, regardless of the royalty rates payable by SUBLICENSEES to LICENSEE under a sublicense agreement. In
addition, during the period in which LICENSEE is obligated to pay EARNED ROYALTIES to YALE under Article 6.1, LICENSEE shall pay to YALE a percentage of any SUBLICENSE INCOME received by LICENSEE in respect of the LICENSEE’S first LICENSED
PRODUCT as follows: 

  

					
	 Up to an aggregate of $[**] of SUBLICENSE INCOME received by LICENSEE [**]
	  	 	[**]%	 
	 SUBLICENSE INCOME received by LICENSEE [**]
	  	 	[**]%	 
	 SUBLICENSE INCOME received by LICENSEE [**]
	  	 	[**]%	 

 Notwithstanding the foregoing, for purposes of clarification, the aggregate amount of SUBLICENSEE INCOME
received by LICENSEE [**] in respect of which YALE shall be entitled to receive a payment hereunder shall not exceed $[**] (i.e. the maximum amount payable to YALE in respect of SUBLICENSE INCOME received by LICENSEE prior to the filing of an IND
for a LICENSED PRODUCT cannot exceed $750,000). 

  
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	7.4.	 LICENSEE agrees that it has sole responsibility to promptly: 

 

	 	(a)	 provide YALE with a copy of any amendments to sublicenses granted by LICENSEE under this Agreement, as redacted
for any sensitive information of the SUBLICENSEES, and to notify YALE of termination of any sublicense; and 

  

	 	(b)	 summarize and deliver copies of all reports provided to LICENSEE by SUBLICENSEES, as redacted for any sensitive
information of the SUBLICENSEES. 

 8. CONFIDENTIALITY AND PUBLICITY 

 

	8.1.	 Subject to the parties’ rights and obligations pursuant to this Agreement, YALE and LICENSEE agree that
during the term of this Agreement and for [**] thereafter, each of them: 

  

	 	(a)	 will keep confidential and will cause their AFFILIATES and, in the case of LICENSEE, its SUBLICENSEES, to keep
confidential, CONFIDENTIAL INFORMATION disclosed to it by the other party, by taking whatever action the party receiving the CONFIDENTIAL INFORMATION would take to preserve the confidentiality of its own CONFIDENTIAL INFORMATION, which in no event
shall be less than reasonable care; and 

  

	 	(b)	 will only disclose that part of the other’s CONFIDENTIAL INFORMATION to its officers, employees or agents,
under requirements of confidentiality, for purposes of carrying out its rights and responsibilities under this Agreement; and 

  

	 	(c)	 will not use the other party’s CONFIDENTIAL INFORMATION other than as expressly permitted or contemplated
by this Agreement or disclose the other’s CONFIDENTIAL INFORMATION to any third parties (other than to agents under requirements of confidentiality) except as expressly permitted or contemplated by this Agreement without advance written
permission from the other party; and 

  

	 	(d)	 will, within [**] of termination of this Agreement, return all the CONFIDENTIAL INFORMATION disclosed to it by
the other party pursuant to this Agreement except for one copy which may be retained by the recipient for monitoring compliance with this Article 8 and any surviving clauses. 

 

	8.2.	 The obligations of confidentiality described above shall not pertain to that part of the CONFIDENTIAL
INFORMATION that: 

  

	 	(a)	 is shown to have been known to or developed by the recipient prior to the disclosure by the disclosing party;
or 

  

	 	(b)	 is at the time of disclosure or has become thereafter publicly known through no fault or omission attributable
to the recipient; or 

  

	 	(c)	 is rightfully given to the recipient from sources independent of the disclosing party; or

  
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	 	(d)	 is independently developed by the receiving party without use of or reference to the CONFIDENTIAL INFORMATION
of the other party; or 

  

	 	(e)	 is required to be disclosed by law in the opinion of recipient’s attorney, but only after the disclosing
party is given prompt written notice and an opportunity to seek a protective order. 

  

	8.3.	 The financial terms of this Agreement constitute CONFIDENTIAL INFORMATION of each party. 

 

	8.4.	 Notwithstanding any other provision set forth herein, LICENSEE shall be permitted to disclose YALE’S
CONFIDENTIAL INFORMATION and this Agreement to any potential financing source, acquirer, sublicensee or strategic partner as long as such person or entity has executed a confidentiality agreement with LICENSEE that contains confidentiality
provisions substantially the same as those contained herein. 

 9. REPORTS, RECORDS AND INSPECTIONS 

 

	9.1.	 LICENSEE shall, within [**] after the calendar year in which NET SALES first occur, and within [**] after each
calendar quarter (March 31, June 30, September 30 and December 31) thereafter, provide YALE with a written report detailing the NET SALES made by LICENSEE, its SUBLICENSEES and AFFILIATES of LICENSED PRODUCTS during the preceding calendar
quarter and calculating the payments due pursuant to Article 6. NET SALES of LICENSED PRODUCTS shall be deemed to have occurred when LICENSEE receives such NET SALES for such LICENSED PRODUCTS. Each such report shall be signed by an officer of
LICENSEE (or the officer’s designee), and must include: 

  

	 	(a)	 the number or amount, as appropriate, of LICENSED PRODUCTS manufactured, sold or otherwise transferred by
LICENSEE, SUBLICENSEES and AFFILIATES; 

  

	 	(b)	 a calculation of NET SALES for the applicable reporting period in each country, including the gross invoice
prices charged for the LICENSED PRODUCTS and any permitted deductions made pursuant to Article 2.22; 

  

	 	(c)	 a calculation of total royalties or other payment due, including any exchange rates used for conversion; and

  

	 	(d)	 names and addresses of all SUBLICENSEES and the type and amount of any SUBLICENSE INCOME received from each
SUBLICENSEE; and 

  

	 	(e)	 identification of any changes in INVENTOR AGREEMENT(S) that went into effect during the previous calendar
quarter. 

  

	9.2.	 LICENSEE, AFFILIATES and its SUBLICENSEES shall keep and maintain complete and accurate records and books
containing an accurate accounting of all data in sufficient detail to enable verification of EARNED ROYALTIES and other payments under this 

  
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	 	Agreement. LICENSEE shall preserve such books and records for [**] after the calendar year to which they pertain. Such books and records shall be open to inspection by YALE or an independent certified public accountant
selected by YALE, at YALE’s expense, during normal business hours upon [**] prior written notice, for the purpose of verifying the accuracy of the reports and computations rendered by LICENSEE. In the event LICENSEE underpaid the amounts due to
YALE with respect to the audited period by more than [**] percent ([**]%), LICENSEE shall pay the reasonable cost of such examination, together with the deficiency not previously paid and interest from the due date of such payment, calculated at the
rate set forth in Article 6.8, within [**] of receiving notice thereof from YALE. 

  

	9.3.	 On or before the [**] following the close of LICENSEE’s fiscal year, LICENSEE shall provide YALE with
LICENSEE’s financial statements for the preceding fiscal year including, at a minimum, a balance sheet and an income statement and, if LICENSEE’S financial statements for such year have been audited, LICENSEE shall provide such audited
financial statements to YALE. 

 10. PATENT PROTECTION 

 

	10.1.	 LICENSEE shall be responsible for all past, present and future costs of filing, prosecution and maintenance of
all United States patent applications and patents contained in the LICENSED PATENTS. Any and all such United States patent applications, and resulting issued patents contained in the LICENSED PATENTS, shall remain the property of YALE.

  

	10.2.	 LICENSEE shall be responsible for all past, present and future costs of filing, prosecution and maintenance of
all foreign patent applications and patents contained in the LICENSED PATENTS in the countries outside the United States in the LICENSED TERRITORY selected by YALE and agreed to in writing by LICENSEE. All such applications or patents contained in
the LICENSED PATENTS shall remain the property of YALE. LICENSEE acknowledges that YALE shall not be required to file any such applications in low income countries, as designated by the World Bank (www.worldbank.org). 

 

	10.3.	 If, upon the written request of YALE, LICENSEE fails to pay the expenses of filing, prosecuting or maintaining
a patent application or patent in any country within the [**] period after receipt of written notice from YALE, then YALE may terminate LICENSEE’S rights to the LICENSE in such country (and only in such country). 

 

	10.4.	 The costs mentioned in Articles 10.1 and 10.2 shall include, but are not limited to, any past, present and
future taxes, annuities, working fees, maintenance fees, renewal and extension charges. Payment of such costs shall be made, at YALE’s sole discretion, either directly to patent counsel or by reimbursement to YALE. In either case, LICENSEE
shall make payment directly to the appropriate party within [**] of receiving its invoice. 

  
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	10.5.	 All patent applications under the LICENSED PATENTS shall be prepared, prosecuted, filed and maintained by
independent patent counsel chosen by YALE and reasonably acceptable to LICENSEE. Said independent patent counsel shall be ultimately responsible to YALE. YALE shall instruct patent counsel to keep both YALE and LICENSEE fully informed of the
progress of all patent applications and patents, and to give both YALE and LICENSEE reasonable opportunity to comment on the type and scope of useful claims and the nature of supporting disclosures. YALE will not finally abandon any patent
application for which LICENSEE is bearing expenses without LICENSEE’s prior written consent. YALE shall have no liability to LICENSEE for damages, whether direct, indirect or incidental, consequential or otherwise, allegedly arising from its
good faith decisions, actions and omissions in connection with such prosecution. 

  

	10.6.	 LICENSEE shall mark, and shall require AFFILIATES and SUBLICENSEES to mark, all VALID CLAIM PRODUCTS, that are
tangible products, with the numbers of all patents included in LICENSED PATENTS that cover the VALID CLAIM PRODUCTS. Without limiting the foregoing, all VALID CLAIM PRODUCTS shall be marked in such a manner as to conform with the patent marking
notices required by the law of any country where such VALID CLAIM PRODUCTS are made, sold, used or shipped, including, but not limited to, the applicable patent laws of that country. 

11. INFRINGEMENT AND LITIGATION 
  

	11.1.	 Each party shall promptly notify the other in writing in the event that it obtains knowledge of infringing
activity by third parties, or is sued or threatened with an infringement suit, in any country in the LICENSED TERRITORY as a result of activities that concern the LICENSED PATENTS, and shall supply the other party with documentation of the
infringing activities that it possesses. 

  

	11.2.	 During the TERM of this Agreement: 

 

	 	(a)	 LICENSEE shall have the first right and obligation to defend the LICENSED PATENTS against infringement or
challenges in the FIELD and in the LICENSED TERRITORY by third parties. This right and obligation includes bringing any legal action for infringement and defending any counter claim of invalidity or action of a third party for declaratory judgment
for non-infringement or non-challenge. If, in the reasonable opinion of both LICENSEE’s and YALE’s respective counsel, YALE is required to be a named party to
any such suit for standing purposes, LICENSEE may join YALE as a party; provided, however, that (i) YALE shall not be the first named party in any such action, (ii) the pleadings and any public statements about the action
shall state that the action is being pursued by LICENSEE and that LICENSEE has joined YALE as a party; and (iii) LICENSEE shall keep YALE reasonably apprised of all developments in any such action. LICENSEE may settle such suits solely in its
own name and solely at its own expense and through counsel of its own selection; provided, however, that no settlement shall be entered without YALE’s prior written consent, such consent not to be unreasonably withheld,
conditioned or delayed. Without limiting the foregoing, YALE may withhold its consent to any settlement that would in any manner constitute or incorporate an admission of liability by

  
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	 	YALE or require YALE to take or refrain from taking any action. LICENSEE shall bear the expense of such legal actions. Except for providing reasonable assistance, at the request and expense of LICENSEE, YALE shall have
no obligation regarding the legal actions described in Article 11.2 unless required to participate by law. However, YALE shall have the right to participate in any such action through its own counsel and at its own expense. Any recovery shall first
be applied to LICENSEE’s out of pocket expenses and second shall be applied to YALE’s out of pocket expenses, including legal fees. With respect to any excess recovery received by LICENSEE after the payment of such out-of-pocket expenses that constitute damages for lost sales of LICENSED PRODUCTS such recovery shall be treated as NET SALES for which YALE shall be paid EARNED ROYALTIES.
LICENSEE shall pay YALE any amount equal to [**] percent ([**]%) of any excess recovery received by LICENSEE after the payment of such out-of-pocket expenses that does
not constitute damages for lost sales of LICENSED PRODUCTS (such as treble or punitive damages). 

  

	 	(b)	 In the event LICENSEE fails to initiate and pursue or participate in the actions described in Article 11.2(a)
in a particular country within [**] of (a) notification of infringement from YALE or (b) the date LICENSEE otherwise first becomes aware of an infringement, whichever is earlier, YALE may, in its sole discretion, convert the LICENSE
granted in Article 3 solely with respect to such particular country to a nonexclusive license, and issue licenses to third parties under the LICENSED PATENTS to make, have made, use, sell, have sold, import, export, or practice LICENSED PRODUCTS
within the FIELD in such particular country. Additionally, YALE shall have the right to initiate such legal action at its own expense and YALE may use the name of LICENSEE as party plaintiff to uphold the LICENSED PATENTS. In such case, LICENSEE
shall provide reasonable assistance to YALE if requested to do so. YALE may settle such actions solely through its own counsel. Any recovery shall be retained by YALE. 

 

	 	(c)	 In the event LICENSEE is permanently enjoined from exercising its LICENSE under this Agreement pursuant to an
infringement action brought by a third party, or if both LICENSEE and YALE elect not to undertake the defense or settlement of a suit alleging infringement for a period of [**] from notice of such suit, then either party shall have the right to
remove the applicable LICENSED PATENT in the country where the suit was filed from the scope of this Agreement following [**] written notice to the other party in accordance with the terms of Article 15. 

 

	 	(d)	 Notwithstanding the foregoing, neither LICENSEE nor YALE shall take any action to enforce the LICENSED PATENTS
in low income countries (as designated by the World Bank (www.worldbank.org)) where such action is intended to prevent the sale of LICENSED PRODUCTS in any such countries. However, LICENSEE and/or YALE may take such action in any such country,
provided that such action is intended to prevent the manufacturing of LICENSED PRODUCTS for export to countries that are not low-income countries. 

  
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12. USE OF YALE’S NAME 
  

	12.1.	 LICENSEE shall not use the name “Yale” or “Yale University,” nor any variation or
adaptation thereof, nor any trademark, tradename or other designation owned by YALE, nor the names of any of its trustees, officers, faculty, students, employees or agents, for any purpose without the prior written consent of YALE in each instance,
such consent to be granted or withheld by YALE in its sole discretion, except that LICENSEE may state that it has licensed from YALE one or more of the patents and/or applications comprising the LICENSED PATENTS. 

13. TERMINATION 
  

	13.1.	 YALE shall have the right to terminate this Agreement upon written notice to LICENSEE as provided in
Section 4.6, or in the event LICENSEE: 

  

	 	(a)	 fails to make any payment whatsoever due and payable pursuant to this Agreement unless LICENSEE shall make all
such payments within the [**] period after receipt of written notice from YALE; 

  

	 	(b)	 breaches its obligations in Articles 5, 6.1, 6.3(a) or (b), 6.5, 6.6, 6.7, 6.8, 7.2, 7.3, 7.4, 8.1, 9, or 12
and such breach is not cured within the [**] period after receipt of written notice of such breach from YALE; or 

  

	 	(c)	 fails to obtain or maintain adequate insurance as described in Article 14.2 within the [**] period after
receipt of written notice from YALE. 

  

	13.2.	 This Agreement shall terminate automatically without any notice to LICENSEE in the event LICENSEE becomes
INSOLVENT. 

  

	13.3.	 LICENSEE shall have the right to terminate this Agreement upon written notice to YALE: 

 

	 	(a)	 at any time on six (6) months’ notice to YALE, provided that payment of all amounts due YALE through
the effective date of termination has been made; or 

  

	 	(b)	 in the event that YALE breaches any of its obligations in Article 3.1, 3.5 or 7.1 and such breach is not cured
within the [**] period after receipt of written notice of such breach from LICENSEE. 

  

	13.4.	 Upon termination of this Agreement, for any reason, all rights and licenses granted to LICENSEE under the terms
of this Agreement are terminated. Upon such termination, LICENSEE shall cease to make, have made, use, sell, have sold, distribute, practice, import or export VALID CLAIM PRODUCTS. Within [**] of the effective date of termination LICENSEE shall
return to YALE: 

  

	 	(a)	 All materials relating to or containing the LICENSED PATENTS or CONFIDENTIAL INFORMATION disclosed by YALE;

  
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	 	(b)	 the last report required under Article 4 or Article 9; and 

 

	 	(c)	 all payments incurred up to the effective date of termination. 

 

	13.5.	 Termination of this Agreement shall not affect the rights or obligations accrued prior to the effective date of
such termination and specifically LICENSEE’s obligation to pay all royalties and other payments specified by Article 5 and Article 6 that have accrued prior to the effective date of such termination. In the event that LICENSEE terminates this
Agreement, then LICENSEE shall remain obligated to pay a [**] percent ([**]%) royalty on all NET SALES of MEANINGFULLY INVOLVED PRODUCTS. Provided, however, that in the event that LICENSEE terminates this Agreement after a CHANGE OF CONTROL, then
LICENSEE shall remain obligated to pay a [**] percent ([**]%) royalty on all NET SALES of MEANINGFULLY INVOLVED PRODUCTS that are LEAD DEVELOPMENT CANDIDATES as of the time of such CHANGE OF CONTROL (which LICENSEE and YALE shall mutually agree upon
in writing at such time), and not on any NET SALES of MEANINGFULLY INVOLVED PRODUCTS that are not LEAD DEVELOPMENT CANDIDATES as of the time of such CHANGE OF CONTROL, until the end of the ten (10) year period after the FIRST SALE of LICENSED
PRODUCTS. Notwithstanding the foregoing, if LICENSEE (or its successor or assignee) provides a CONTINUATION ELECTION to YALE within [**] after such CHANGE OF CONTROL, then such [**] percent ([**]%) royalty shall apply to NET SALES of all
MEANINGFULLY INVOLVED PRODUCTS. Termination of this Agreement shall not terminate or otherwise affect any sublicense previously provided or granted by LICENSEE, provided that YALE’S obligations and responsibilities under such sublicenses would
not be materially different than its obligations and responsibilities under this Agreement, and further provided that YALE is entitled to receive the payments otherwise payable to LICENSEE under such sublicenses. The following provisions shall
survive any termination: Article 2, Article 8, Article 9.2, Article 12, Article 13.4, this Article 13.5, Article 13.6, Article 13.8, Article 14.1, Article 14.4, Article 15, Article 17.1, and Article 18. The parties agree that claims giving rise to
indemnification may arise after the TERM or termination of the LICENSE granted herein. 

  

	13.6.	 The rights provided in this Article 13 shall be in addition and without prejudice to any other rights, whether
at law or in equity, which the parties may have with respect to any default or breach of the provisions of this Agreement. 

  

	13.7.	 Waiver by either party of one or more defaults or breaches shall not deprive such party of its right with
respect to any subsequent default or breach. 

  

	13.8.	 Upon termination of this Agreement for any reason other than breach by YALE, LICENSEE shall permit YALE and its
future licensees to utilize, reference and otherwise have the benefit of all regulatory approvals of, or clinical trials or other studies conducted on, and all filings made with regulatory agencies with respect to, the VALID CLAIM PRODUCTS solely
covered by the LICENSED PATENTS. In addition, at YALE’s request, LICENSEE shall deliver to YALE within [**] of such request all records required by regulatory authorities to be maintained with respect to the sale, storage, handling, shipping
and use of the VALID CLAIM PRODUCTS solely covered by the 

  
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	 	LICENSED PATENTS, all reimbursement approval files, all documents, data and information related to clinical trials and other studies of VALID CLAIM PRODUCTS solely covered by the LICENSED PATENTS, any other data,
techniques, know-how and other information developed or generated that relate to the LICENSED PATENTS and all copies and facsimiles of such materials, documents, information and files. YALE agrees that,
subject to the provisions of Article 8, LICENSEE may retain one copy thereof to the extent LICENSEE is required by law to maintain such copy. 

14. INDEMNIFICATION; INSURANCE; WARRANTIES 
  

	14.1.	 LICENSEE shall indemnify, defend by counsel reasonably acceptable to YALE, and hold harmless YALE and its
trustees, officers, employees, and agents, from and against any liability, cost, expense, damage, deficiency, loss, or obligation, of any kind or nature arising out of a third party claim (including, without limitation, reasonable attorneys’
fees and other costs and expenses of defense) (collectively, “CLAIMS”), based upon, arising out of or otherwise relating to this LICENSE including, without limitation, any cause of action relating to product liability, or any theory of
liability (including without limitation tort, warranty, or strict liability) or the death, personal injury, or illness of any person or out of damage to any property related in any way to the rights granted under this Agreement; or resulting from
the production, manufacture, sale, use, lease, or other disposition or consumption or advertisement of the LICENSED PRODUCTS by LICENSEE, its AFFILIATES, SUBLICENSEES or any other transferees; or in connection with any statement, representation or
warranty of LICENSEE, its AFFILIATES, SUBLICENSEES or any other transferees with respect to the LICENSED PRODUCTS but expressly excluding all CLAIMS to the extent based upon, arising out of or otherwise relating to (a) YALE’S use of
the LICENSED PATENTS as permitted under Article 3.3; or (b) YALE’S gross negligence or willful misconduct. LICENSEE shall not settle or compromise the CLAIM without the prior written consent of YALE, such consent not to be
unreasonably withheld, conditioned or delayed, if such settlement or compromise does not include a complete release of YALE from all CLAIMS. Without limiting the foregoing, YALE may withhold its consent to any settlement or compromise that would in
any manner constitute or incorporate an admission of liability by YALE or require YALE to take or refrain from taking any action. YALE shall not admit liability, settle or compromise any CLAIM without the prior written consent of LICENSEE, such
consent not to be unreasonably withheld, conditioned or delayed. YALE will provide prompt written notice to LICENSEE of the commencement of any CLAIM, together with such other information and documents as YALE has in its possession concerning such
CLAIM. LICENSEE will be entitled to participate in the defense of such CLAIM and, to the extent that it wishes to, assume control of the defense of such CLAIM with counsel reasonably satisfactory to YALE and, after notice from LICENSEE to YALE of
its election to assume the defense of such CLAIM. LICENSEE will not, as long as it diligently conducts such defense, be liable to YALE for any fees of other counsel or any other expenses with respect to the defense of such CLAIM subsequently
incurred by YALE in connection with the defense of such CLAIM. YALE shall cooperate with LICENSEE in such defense and make available to LICENSEE, at LICENSEE’S expense, all witnesses, pertinent records, materials and information in YALE’S
possession or control relating thereto as is reasonably requested by LICENSEE. 

  
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	14.2.	 LICENSEE shall purchase and maintain in effect and shall require its SUBLICENSEES to purchase and maintain in
effect a policy of commercial, general liability insurance to protect YALE with respect to events described in Article 14.1. Such insurance shall: 

  

	 	(a)	 list “YALE, its trustees, directors, officers, employees and agents” as additional insureds under the
policy; 

  

	 	(b)	 provide that such policy is primary and not excess or contributory with regard to other insurance YALE may
have; 

  

	 	(c)	 be endorsed to include product liability coverage in amounts no less than $[**] Dollars per incident and
$[**] Dollars annual aggregate; 

  

	 	(d)	 be endorsed to include contractual liability coverage for LICENSEE’s indemnification under Article 14.1;
and 

  

	 	(e)	 by virtue of the minimum amount of insurance coverage required under Article 14.2(c), not be construed to
create a limit of LICENSEE’s liability with respect to its indemnification under Article 14.1. 

  

	14.3.	 By signing this Agreement, LICENSEE certifies that the requirements of Article 14.2 will be met on or before
the earlier of (a) the date of FIRST SALE of any LICENSED PRODUCT or (b) the date any LICENSED PRODUCT is tested or used on humans, and will continue to be met thereafter. Upon YALE’s request, LICENSEE shall furnish a Certificate of
Insurance and a copy of the current insurance policy to YALE. LICENSEE shall secure agreement from its insurer to give [**] written notice to YALE prior to any cancellation of or material change to the policy. 

 

	 	(a)	 YALE MAKES NO, AND EXPRESSLY DISCLAIMS ALL, REPRESENTATIONS OR WARRANTIES THAT ANY CLAIMS OF THE LICENSED
PATENTS, ISSUED OR PENDING, ARE VALID, OR THAT THE MANUFACTURE, USE, PRACTICE, SALE OR OTHER DISPOSAL OF THE LICENSED PRODUCTS DOES NOT OR WILL NOT INFRINGE UPON ANY PATENT OR OTHER RIGHTS NOT VESTED IN YALE. 

 

	 	(b)	 EXCEPT AS SET FORTH IN ARTICLE 14.4, YALE MAKES NO, AND EXPRESSLY DISCLAIMS ALL, REPRESENTATIONS AND WARRANTIES
WHATSOEVER WITH RESPECT TO THE LICENSED PATENTS AND LICENSED PRODUCTS, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

 

	 	(c)	 LICENSEE SHALL MAKE NO STATEMENTS, REPRESENTATION OR WARRANTIES WHATSOEVER TO ANY THIRD PARTIES THAT ARE
INCONSISTENT WITH THE DISCLAIMERS BY YALE IN ARTICLE 14.3(a) AND (b). 

  
 -22- 

 Yale Confidential 
  

 

	 	(d)	 IN NO EVENT SHALL YALE, OR ITS TRUSTEES, DIRECTORS, OFFICERS, EMPLOYEES AND AFFILIATES OR LICENSEE OR ITS
DIRECTORS, OFFICERS, EMPLOYEES, STOCKHOLDERS AND AFFILIATES BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR INDIRECT DAMAGES OF ANY KIND, INCLUDING ECONOMIC DAMAGE OR INJURY TO PROPERTY AND LOST PROFITS, REGARDLESS OF WHETHER SUCH PARTY SHALL BE
ADVISED, SHALL HAVE OTHER REASON TO KNOW, OR IN FACT SHALL KNOW OF THE POSSIBILITY OF THE FOREGOING; PROVIDED, HOWEVER, THAT NOTHING IN THIS PARAGRAPH IS INTENDED TO IN ANY WAY LIMIT LICENSEE’S INDEMNIFICATION OBLIGATIONS HEREUNDER.

  

	 	(e)	 IN NO EVENT SHALL YALE, OR ITS TRUSTEES, DIRECTORS, OFFICERS, EMPLOYEES AND AFFILIATES, BE LIABLE FOR MONEY
DAMAGES IN EXCESS OF AMOUNTS YALE HAS RECEIVED FROM LICENSEE UNDER THIS LICENSE. 

  

	14.4.	 Each party hereto represents and warrants that: (a) it has full right, power, and authority to enter into
this Agreement and to perform its obligations and duties under this Agreement, (b) this Agreement has been duly authorized by such party, (c) this Agreement constitutes a valid and legally binding obligation of such party that is
enforceable against such party in accordance with its terms and (d) the execution, delivery, and performance of and compliance with this Agreement will not, with or without the passage of time or giving of notice, (i) conflict with, or
result in any violation of or default or loss of any benefit under, any law, rule or regulation or (ii) conflict with, or result in a breach or violation of or default or loss of any benefit under, the terms of any agreement, contract,
indenture or other instrument to which the such party is a party or to which any of its property is subject. YALE represents and warrants to LICENSEE that: (i) it owns or co-owns all right, title and
interest in and to the LICENSED PATENTS, free and clear of all encumbrances and rights of any other person or entity except for the limited license that YALE provided under the [**]; and (ii) YALE has not granted, and during the term of this
Agreement YALE will not grant, any option or license of any nature with respect to any LICENSED PATENTS or LICENSED INFORMATION which could conflict with, or could interfere with, LICENSEE’S ability to exercise the LICENSE.

 15. NOTICES 
  

	15.1.	 Any monetary payment, notice or other communication required by this Agreement (a) shall be in writing,
(b) may be delivered personally or sent by reputable overnight courier with written verification of receipt or by registered or certified first class United States Mail, postage prepaid, return receipt requested, (c) shall be sent to the
following addresses or to such other address as such party shall designate by written notice to the other party, and (d) shall be effective upon receipt: 

  
 -23- 

 Yale Confidential 
  

 

			
	FOR YALE:	  	FOR LICENSEE:
	Managing Director	  	Chief Executive Officer
	YALE UNIVERSITY	  	
	Office of Cooperative Research	  	
	433 Temple Street	  	
	New Haven, CT 06511	  	

 16. INVENTOR AGREEMENTS 
  

	16.1.	 If LICENSEE and Dr. Craig Crews enter into an INVENTOR AGREEMENT, LICENSEE shall so notify YALE in writing
within [**]. The LICENSEE acknowledges that: (i) Dr. Craig Crews is a faculty member, other employee, or student of YALE; (ii) Dr. Craig Crews is subject to certain policies of YALE, including policies concerning consulting,
conflicts of interest, and intellectual property (“YALE POLICIES”); and (iii) to the extent any provision of the INVENTOR AGREEMENT conflicts with YALE POLICIES, or imposes obligations or responsibilities compliance with which would
require Dr. Craig Crews to act in violation of YALE POLICIES, the provisions of the YALE POLICIES shall prevail. YALE acknowledges that it has received a copy of the INVENTOR AGREEMENT between Dr. Craig Crews and LICENSEE effective as of
the EFFECTIVE DATE and that nothing set forth in such INVENTOR AGREEMENT conflicts with any of the YALE POLICIES or imposes obligations or responsibilities compliance with which would require Dr. Craig Crews to act in violation of YALE
POLICIES. Dr. Craig Crews is a third party beneficiary of this paragraph. 

 17. LAWS, FORUM AND REGULATIONS

  

	17.1.	 Any matter arising out of or related to this Agreement shall be governed by and in accordance with the
substantive laws of the State of Connecticut, without regard to its conflicts of law principles, except where the federal laws of the United States are applicable and have precedence. Any dispute arising out of or related to this Agreement shall be
brought exclusively in a court of competent jurisdiction in the State of Connecticut, and the parties hereby irrevocably submit to the jurisdiction of such courts. 

 

	17.2.	 LICENSEE shall comply, and shall cause its AFFILIATES and SUBLICENSEES to comply, with all foreign and United
States federal, state, and local laws, regulations, rules and orders applicable to the testing, production, transportation, packaging, labeling, export, practice, sale and use of the LICENSED PRODUCTS. In particular, LICENSEE shall be responsible
for assuring compliance with all United States export laws and regulations applicable to this LICENSE and LICENSEE’s activities under this Agreement. 

18. MISCELLANEOUS 
  

	18.1.	 This Agreement shall be binding upon and inure to the benefit of the parties and their respective legal
representatives, successors and permitted assigns. 

  

	18.2.	 This Agreement constitutes the entire agreement of the parties relating to the LICENSED PATENTS, LICENSED
METHODS and LICENSED PRODUCTS, and all prior representations, agreements and understandings, written or oral, are merged into it and are superseded by this Agreement. 

  
 -24- 

 Yale Confidential 
  

 

	18.3.	 The provisions of this Agreement shall be deemed separable. If any part of this Agreement is rendered void,
invalid, or unenforceable, such determination shall not affect the validity or enforceability of the remainder of this Agreement unless the part or parts which are void, invalid or unenforceable shall substantially impair the value of the entire
Agreement as to either party. 

  

	18.4.	 Paragraph headings are inserted for convenience of reference only and do not form a part of this Agreement.

  

	18.5.	 Except as expressly set forth herein, no person or entity not a party to this Agreement, including any employee
of any party to this Agreement, shall have or acquire any rights by reason of this Agreement. Nothing contained in this Agreement shall be deemed to constitute the parties partners or joint venturers with each other or any third party, and neither
party shall be deemed the agent of the other. 

  

	18.6.	 This Agreement may not be amended or modified except by written agreement executed by each of the parties. This
Agreement is personal to LICENSEE and shall not be assigned by LICENSEE without the prior written consent of YALE; provided that notwithstanding the foregoing or any other provision set forth herein, LICENSEE may assign this Agreement without the
consent of YALE to an AFFILIATE or to a purchaser of all, or substantially all, of the assets or equity securities of LICENSEE (whether through merger, consolidation, assignment or otherwise). YALE shall not sell, assign or otherwise transfer any of
its rights to any of the LICENSED PATENTS unless either (a) the purchaser or assignee of such rights has acknowledged and agreed with LICENSEE in writing that such purchaser or assignee will assume and perform all of YALE’s obligations
under this Agreement and that such sale, assignment and transfer will not adversely affect any of LICENSEE’s rights under this Agreement or (b) LICENSEE has provided its prior written consent to such sale, assignment or transfer. Any
attempted assignment in contravention of this Article 18.6 shall be null and void. 

  

	18.7.	 Neither LICENSEE nor any assignee will create, assume or permit to exist any lien, pledge, security interest or
other encumbrance on this Agreement or the LICENSED PATENTS, unless the creditor or holder of such lien, pledge, security interest or other encumbrance agrees in writing to be bound by all of the terms and conditions of this Agreement in the event
that it forecloses on such rights. 

  

	18.8.	 The failure of any party hereto to enforce at any time, or for any period of time, any provision of this
Agreement shall not be construed as a waiver of either such provision or of the right of such party thereafter to enforce each and every provision of this Agreement. 

 

	18.9.	 This Agreement may be executed in any number of counterparts and any party may execute any such counterpart,
each of which when executed and delivered shall be deemed to be an original and all of which counterparts taken together shall constitute but one and the same instrument. 

Signature Page Follows 

  
 -25- 

 Yale Confidential 
  

IN WITNESS to their Agreement, the parties have caused this Agreement to be executed in duplicate originals by their duly authorized representatives. 

 

									
	YALE UNIVERSITY	 		 	ARVINAS, INC.
					
	By:	 	 /s/ E. Jonathan Soderstrom, Ph.D.
	 		 	By:	 	 /s/ T. Shannon

	E. Jonathan Soderstrom, Ph.D. Managing Director	 		 	Name: T. Shannon
	Office of Cooperative Research	 		 	Title: CEO
	Date: 5 July 2013	 		 	Date: July 5, 2013

  
 -26- 

 Yale Confidential 
  

Appendix A 

LICENSED PATENTS AND PATENT APPLICATIONS 

[**] 

  
 -27- 

 Yale Confidential 
  

Appendix B 

Confidential Materials omitted and filed separately with the Securities and 

Exchange Commission. A total of nine pages were omitted. [**] 

  

 Yale Confidential 
  

Appendix C 
 LICENSED
INFORMATION 
 Confidential Materials omitted and filed separately with the Securities and Exchange Commission. A total of five pages
were omitted. [**] 

  
 -29- 

 AMENDMENT NO.1 

THIS AMENDMENT NO.1, effective as of May 2014 (this “AMENDMENT”) to a certain AGREEMENT (the “LICENSE AGREEMENT”) dated
July 5, 2013, by and between ARVINAS, INC., a Delaware corporation having an office at 5 Science Park, 3rd Floor, New Haven, CT 06511 (“Arvinas”) and Yale University, a corporation
organized and existing under and by virtue of a charter granted by the general assembly of the Colony and the State of Connecticut and located in New Haven, CT (“Yale”). 

BACKGROUND: 
 WHEREAS,
Arvinas and Yale have entered into the LICENSE AGREEMENT; and 
 WHEREAS, Arvinas and Yale desire to amend the LICENSE AGREEMENT as set
forth more particularly herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 
  

	1.	 Appendix A “Licensed Patents and Patent Applications” of the LICENSE AGREEMENT is hereby amended to
add the following: 

 [**] 
  

	2.	 The definition of “FIELD” in Section 2.6 of the LICENSE AGREEMENT is hereby deleted and replaced
with the following: 

 “FIELD” shall mean the treatment or prevention of any human disease in which a product mediates
degradation of one or more target proteins except for the following: (a) [**]; and (b) up to [**] additional targets selected by [**] under the terms and conditions set forth in that certain Agreement between YALE, [**]. 

Capitalized terms used, but not defined, in this AMENDMENT shall have the respective meanings ascribed to such terms in the LICENSE AGREEMENT. Any reference
to “the Agreement” or “this Agreement” in the LICENSE AGREEMENT shall mean the LICENSE AGREEMENT, as amended by this AMENDMENT. Except as expressly provided herein: (a) no terms or provisions of the LICENSE AGREEMENT are
modified or changed by this Amendment; and (b) the terms and provisions of the LICENSE AGREEMENT shall continue in full force and effect. This AMENDMENT may be executed in any number of counterparts, each of which shall be deemed to be an
original, and all of which together shall constitute one and the same document. This AMENDMENT may be executed by facsimile or electronic transmission signatures (including .pdf copies). 

IN WITNESS WHEREOF, the parties hereto have executed this AMENDMENT as of the day and year first set forth hereinabove. 

									
	ARVINAS, INC.	 		 	Yale University
					
	By:	 	 /s/ T. Shannon
	 		 	By:	 	 /s/ Jon Soderstrom

	Name: T. Shannon	 		 	       Name: Jon Soderstrom
	Title: CEO	 		 	       Title: Managing Director, OCR
	Date: 8 May 2014	 		 	       Date: 13 May 2014

 AMENDMENT NO.2 

THIS AMENDMENT NO.2, effective as of the date of final signature below (this “AMENDMENT”), to a certain AGREEMENT (dated
July 5, 2013, and as amended on May 8, 2014, the “LICENSE AGREEMENT”) by and between ARVINAS, INC., a Delaware corporation having an office at 5 Science Park, 3rd Floor, New
Haven, CT 06511 (“Arvinas”) and Yale University, a corporation organized and existing under and by virtue of a charter granted by the general assembly of the Colony and the State of Connecticut and located in New Haven, CT
(“Yale”). 
 BACKGROUND: 

WHEREAS, Arvinas and Yale have entered into the LICENSE AGREEMENT; and 

WHEREAS, Arvinas and Yale desire to amend the LICENSE AGREEMENT as set forth more particularly herein. 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound hereby, the parties hereto hereby agree as follows: 
  

	1.	 Appendix A “Licensed Patents and Patent Applications” of the LICENSE AGREEMENT is hereby amended to
add the following: 

 [**] 

Capitalized terms used, but not defined, in this AMENDMENT shall have the respective meanings ascribed to such terms in the LICENSE AGREEMENT. Any reference
to “the Agreement” or “this Agreement” in the LICENSE AGREEMENT shall mean the LICENSE AGREEMENT, as amended by this AMENDMENT. Except as expressly provided herein: (a) no terms or provisions of the LICENSE AGREEMENT are
modified or changed by this Amendment: and (b) the terms and provisions of the LICENSE AGREEMENT shall continue in full force and effect. This AMENDMENT may be executed in any number of counterparts, each of which shall be deemed to be an
original, and all of which together shall constitute one and the same document. This AMENDMENT may be executed by facsimile or electronic transmission signatures (including .pdf copies). 

 IN WITNESS WHEREOF, the parties hereto have executed this AMENDMENT as of the day and year first
set forth hereinabove. 
  

									
	ARVINAS, INC.	 		 	Yale University
					
	By:	 	 /s/ T. Shannon
	 		 	By:	 	 /s/ Jon Soderstrom

	Name: T. Shannon	 		 		 	E. Jonathan Soderstrom, Ph.D.
	Title: CEO	 		 		 	Managing Director, Office of Cooperative Research
	Date: 23 Oct 2014	 		 		 	Date: 21 October 2014

 

 
 April 1, 2015 
 E.
Jonathan Soderstrom, Ph D. 
 Managing Director 
 Yale
University 
 Office of Cooperative Research 
 433 Temple Street

 New Haven, CT 06511 
 RE: Amendment Number 3 to License
Agreement between Yale University (“Yale”) and Arvinas, Inc. (“Arvinas”) dated as of July 5, 2013, as amended to date (“Yale Agreement”) 

Dear Jon: 
 The Parties wish to make the following amendments to
the Yale Agreement, as Amendment Number 3 thereto, effective as of the date first set forth above: 
  

	 	A.	 The Parties hereby acknowledge and agree that any rights in Arising University Intellectual Property that Yale
obtains from [**] pursuant to Section [**] of the [**] shall be included in the LICENSED PATENTS, LICENSED METHODS and/or LICENSED INFORMATION of the Yale Agreement, as applicable, whether or not listed in Appendix A or Appendix C of the Yale
Agreement, and shall be sublicensed to Arvinas under the LICENSE granted to Arvinas pursuant to the Yale Agreement, provided that Dr. Craig Crews is MEANINGFULLY INVOLVED at the time such rights are obtained by YALE from [**].

  

	 	B.	 With respect to Article 2.6 of the Yale Agreement, Yale and Arvinas hereby agree that “FIELD” shall,
from and after the date of this letter agreement, be read to include the treatment or prevention of any human or animal disease in which a product...”. 

 

	 	C.	 With respect to Article 6.3 of the Yale Agreement, Yale and Arvinas hereby agree that “PATENT
CHALLENGE” shall, from and after the date of this letter agreement, mean any action or proceeding (including any patent opposition or re-examination proceeding), challenging or denying the validity,
patentability, enforceability and/or non-infringement of any LICENSED PATENT, or any claim thereof. 

  

	 	D.	 Yale and Arvinas hereby agree that Section 11.2(b) of the Yale Agreement shall be of no force or effect
during any such period in which a valid sublicense agreement with respect to the LICENSED PATENTS is in effect; provided that Arvinas hereby agrees during any such period to use commercially reasonable efforts, itself or through its SUBLICENSEES, to
enforce the LICENSED PATENTS against infringers, and in the event that neither Arvinas nor a relevant SUBLICENSEE intends to take action to terminate an ongoing infringement after written request of Yale to do so, Arvinas and/or its relevant
SUBLICENSEE shall discuss in good faith with Yale actions to be taken to address Yale’s reasonable concerns. 

	 	E.	 Yale and Arvinas hereby agree that Section 11.2(c) of the Yale Agreement shall be of no force or effect
during any such period in which a valid sublicense agreement with respect to the LICENSED PATENTS is in effect. 

  

	 	F.	 Yale and Arvinas hereby agree that Article 13.8 of the Yale Agreement shall not be deemed to require the
transfer or provision to Yale of any information, documentation or filings generated by any SUBLICENSEE, or on behalf of any SUBLICENSEE by any party other than Arvinas, in either case in the course of performance of its sublicense, or of any rights
in and to the foregoing. 

 Yale hereby confirms that Arvinas’ actual and potential SUBLICENSEES may be provided with a copy of this
letter agreement as confidential information of Arvinas. 
 All capitalized terms not otherwise defined herein shall have the same meanings as set forth in
the Yale Agreement. Except as expressly modified herein, all terms and conditions set forth in the Yale Agreement, as in effect on the date first set forth above, shall remain in full force and effect. 

[remainder of page intentionally left blank] 

 Please acknowledge Yale’s agreement with the foregoing by signing in the space indicated below and returning
a copy of this letter agreement to me at Arvinas. 
 Sincerely, 
  

	
	 /s/ Manuel Litchman

	Manuel Litchman
	President and CEO
	Arvinas, Inc.

 Accepted and Agreed on behalf of 

Yale University as of the date first set forth above 
 E.
Jonathan Soderstrom, Ph.D. 
 Managing Director, Office of Cooperative Research 

 Please acknowledge Yale’s agreement with the foregoing by signing in the space indicated below and returning
a copy of this letter agreement to me at Arvinas. 
 Sincerely, 

Manuel Litchman 
 President and CEO 

Arvinas, Inc. 
 Accepted and Agreed on behalf of 

Yale University as of the date first set forth above 
  

	
	 /s/ E. Jonathan Soderstrom, Ph.D.

	E. Jonathan Soderstrom, Ph.D.
	Managing Director, Office of Cooperative ResearchEX-10.16

 Exhibit 10.16 
  

					
	CONFIDENTIAL	  		  	EXECUTION COPY

 Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. Double asterisks denote omissions. 

AMENDED AND RESTATED OPTION, LICENSE, AND COLLABORATION 

AGREEMENT 
 BETWEEN

 ARVINAS, INC. 

AND 
 GENENTECH, INC.

 AND 
 F. HOFFMANN-LA ROCHE LTD 
 AS OF NOVEMBER 8, 2017 

 

					
	CONFIDENTIAL	  		  	EXECUTION COPY

 TABLE OF CONTENTS 
  

					
	 Article 1 Definitions
	  	 	2	 
	 Article 2 Research Program
	  	 	17	 
	 Article 3 Licenses and Options
	  	 	33	 
	 Article 4 Materials Transfer
	  	 	40	 
	 Article 5 Development and Commercialization
	  	 	41	 
	 Article 6 Financial Terms
	  	 	45	 
	 Article 7 Payment Terms; Reports; Audits
	  	 	52	 
	 Article 8 Intellectual Property
	  	 	56	 
	 Article 9 Confidentiality
	  	 	68	 
	 Article 10 Publicity; Publications; Use of Name
	  	 	71	 
	 Article 11 Representations and Warranties
	  	 	73	 
	 Article 12 Indemnification
	  	 	77	 
	 Article 13 Term; Termination
	  	 	79	 
	 Article 14 Dispute Resolution
	  	 	83	 
	 Article 15 Miscellaneous
	  	 	85	 

  

			
		  	TOC-i

			
	CONFIDENTIAL	  	EXECUTION COPY

  

AMENDED AND RESTATED OPTION, LICENSE, AND COLLABORATION 

AGREEMENT 
 THIS
AMENDED AND RESTATED OPTION, LICENSE, AND COLLABORATION AGREEMENT (“Agreement”) is made and entered into,
effective as of November 8, 2017 (“A&R Effective Date”), by and between ARVINAS, INC., having its principal place of business at 5 Science Park, 395 Winchester Ave., New Haven,
CT 06511 (“Arvinas”), and GENENTECH, INC., a Delaware corporation, having its principal place of business at 1 DNA Way, South San Francisco, California 94080 (“Genentech”),
and as expressly provided herein as a “Licensee” or as a “Party,” or as expressly named herein under Section 9.6, F. Hoffmann-La Roche Ltd, with its principal place of business at
Grenzacherstrasse 124, CH 4070 Basel, Switzerland (“Roche”). 
 BACKGROUND 

WHEREAS, Arvinas is a pharmaceutical development company that has proprietary platform technology that utilizes Proteolysis-Targeting Chimeras (further
defined below as “PROTACs”) to target proteins for degradation; and 
 WHEREAS, Genentech is a biopharmaceutical company that,
together with its Affiliates, is engaged in the research, development, manufacture and sale of pharmaceutical products; and 
 WHEREAS, Genentech
desires to engage Arvinas to conduct certain discovery and research of PROTACs for certain target proteins based on Arvinas’ proprietary platform technology; 

WHEREAS, Genentech desires to obtain an exclusive option for an exclusive license and other rights from Arvinas to develop and commercialize products
that contain such PROTACs resulting from such discovery and research, and Arvinas agrees to grant Genentech such an exclusive option in exchange for certain agreed to upfront and other payments, all on the terms and conditions set forth herein; 

WHEREAS, effective as of September 30, 2015 (the “Original Effective Date”), Genentech, Arvinas, and Roche entered into an Option
and License Agreement and then amended it via Amendment No. 1 on September 30, 2015 (such Option and License Agreement as amended, the “Original Agreement”); and 

WHEREAS, the Parties now desire to amend and restate the Original Agreement through this Agreement. 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Genentech and as expressly provided
herein as a “Licensee” or as a “Party,” Roche, and Arvinas agree as follows: 

  

			
		  	1

			
	CONFIDENTIAL	  	EXECUTION COPY

  

ARTICLE 1 
 DEFINITIONS

 Capitalized terms used in this Agreement, whether used in the singular or plural, shall have the meanings set forth below, unless otherwise
specifically indicated herein. 
 “A&R Effective Date” is defined in the introductory paragraph. 

“Accounting Standard” means, with respect to Licensee, either (a) International Financial Reporting Standards (“IFRS”)
or (b) United States generally accepted accounting principles (“GAAP”), in either case, which standards or principles (as applicable) are currently used at the applicable time by, and as consistently applied by Licensee. 

“Actual Reimbursable Research Program Costs” is defined in Section 7.1. 

“Acquiror Exclusive Activity” is defined in Section 3.4.3. 

“Acquisition” means, with respect to a Party, (a) a merger involving such Party and an acquiring entity, in which the shareholders of
such Party immediately prior to such merger cease to control such Party after such merger; (b) sale of all or substantially all of the assets of such Party to an acquiring entity; or (c) sale of a controlling interest of such Party or any
Person controlling such Party to an acquiring entity. For purposes of the definition of Acquisition, “control” means (a) direct or indirect beneficial ownership of at least fifty percent (50%) (or such lesser percentage that is the
maximum allowed to be owned by a foreign corporation in a particular jurisdiction) of the voting share capital in such entity or (b) to possess, directly or indirectly, the affirmative power to direct the management and policies of such person,
corporation or other entity, whether through ownership of voting securities or by contract relating to voting rights or corporate governance. 

“Adverse Experience” is defined in Section 5.5. 

“Affiliate” means any Person that, directly or indirectly (through one or more intermediaries) controls, is controlled by, or is under common
control with a Party. For purposes of the preceding sentence, “controls”, “controlled”, and “control” means (i) the direct or indirect ownership of fifty percent (50%) or more of the voting stock or other voting
interests or interest in the profits of the Party, or (ii) the ability to otherwise control or direct the decisions of board of directors or equivalent governing body thereof. Notwithstanding the foregoing, unless expressly specified otherwise,
for the purposes of this Agreement, [**] and their respective subsidiaries (each, an “Excluded Affiliate”), shall not be considered Affiliates of Licensee unless and until Licensee provides written notice to Arvinas specifying such
Excluded Affiliate as an Affiliate of Licensee. 
 “Alliance Manager” is defined in Section 5.2. 

“Annual Net Sales” is defined in Section 6.3.2. 

“Arvinas” is defined in the introduction. 

  

			
		  	2

			
	CONFIDENTIAL	  	EXECUTION COPY

  
 “Arvinas
Indemnitees” is defined in Section 12.1. 
 “Arvinas Intellectual Property” means, individually and
collectively, Arvinas Know How and Arvinas Patents: 
 “Arvinas Know-How” means any and all Know-How Controlled by Arvinas or any of its Affiliates as of the Original Effective Date or during the Term that is reasonably necessary or useful for, or used by Arvinas or its Affiliates in, the development,
manufacture or commercialization of Licensed PROTACS or Licensed Products. Arvinas Know-How shall include any Know-How within the Arvinas New Intellectual Property or
Joint New Intellectual Property Controlled (by sole or joint ownership) by Arvinas in accordance with Section 8.2 below. 
 “Arvinas
Patents” means any and all Patents Controlled by Arvinas or any of its Affiliates as of the Original Effective Date or during the Term that claim, in whole or in part, any Licensed PROTAC or Licensed Product, or the development,
manufacture, use or commercialization thereof, including the Patents which are set forth in Exhibit 1.11.2 attached hereto. Arvinas Patents shall include any Patents within the Arvinas New Intellectual Property or Joint New Intellectual Property
Controlled (by sole or joint ownership) by Arvinas in accordance with Section 8.2 below. 
 “Arvinas Licensee” is defined in
Section 3.5.2. 
 “Arvinas New Intellectual Property” is defined in Section 8.2.1. 

“Assignee” is defined in Section 8.2.5(a). 

“Assignor” is defined in Section 8.2.5(a). 

“Auditor” is defined in Section 3.4.3(a). 

“Budget” is defined in Section 2.3. 

“Competitive Version” means, with respect to a Deliverables Know-How Licensed Product and the
relevant Exclusive Target, any product that (a) contains a Licensed PROTAC whose primary mechanism of action is, by design, degradation of such Exclusive Target, and (b) contains a Licensed PROTAC whose [**]. 

“Completion Criteria” is defined in Section 2.3. 

“Compulsory Sublicense” means a license or sublicense granted to a Third Party, through the order, decree or grant of a governmental
authority having competent jurisdiction, authorizing such Third Party to make, have made, use, sell, have sold, offer for sale, import or export a Licensed Product in the Field in any country in the Territory. 

“Compulsory Sublicensee” means a Third Party that was granted a Compulsory Sublicense. 

  

			
		  	3

			
	CONFIDENTIAL	  	EXECUTION COPY

  

“Confidential Information” means, subject to the exclusions under Section 9.2, proprietary information (a) disclosed by or on behalf
of a Party in connection with this Agreement, whether prior to or during the Term and whether disclosed orally, electronically, by observation or in writing, or (b) generated by, or on behalf of, either Party and provided to the other Party, or
generated jointly by the Parties, in the course of performance of this Agreement. For the avoidance of doubt, “Confidential Information” of a Party includes information regarding such Party’s research, development plans, clinical
trial designs, preclinical and clinical data, technology, products, business information or objectives and other information of the type that is customarily considered to be confidential information by entities engaged in activities that are
substantially similar to the activities being engaged in by the Parties pursuant to this Agreement. For clarity, and notwithstanding any other provision of this Agreement, Arvinas New Intellectual Property shall be deemed Confidential Information of
Arvinas, Genentech New Intellectual Property shall be deemed Confidential Information of Genentech, Joint New Intellectual Property shall be deemed Confidential Information of both Parties, and Genentech’s interest in a Proposed Target shall be
deemed Confidential Information of Genentech. However, notwithstanding the foregoing, any Deliverables, Optimization Deliverables, and Deliverables New Intellectual Property, in each case, within Arvinas Intellectual Property shall be deemed
Confidential Information of both Genentech and Arvinas unless and until Genentech’s Option and any subsequent Exclusive License thereto has expired or been terminated. 

“Control” or “Controlled” means, with respect to intellectual property rights or
Know-How, possession by a Party of the power and authority, whether arising by ownership or by license or other authorization, to grant and authorize the licenses or sublicenses, as applicable, under such
intellectual property rights or Know-How of the scope granted to the other Party in this Agreement at the time such Party would be required hereunder to grant the other Party such license or sublicense,
without violating the terms of any agreement or other arrangement with any Third Party existing at the time such Party would be first required hereunder to grant and authorize such license or sublicense. 

“Covers” (including variations such as “Covered”, “Covering” and the like), means, with respect to a Patent
and a product, that the manufacture, use, sale, offer for sale or importation of such product in a country would infringe a Valid Claim of such Patent in that country. 

“CPA Firm” is defined in Section 7.10.2. 

“DC50” means the compound concentration at which the Target is degraded
by fifty percent (50%). 
 “Deliverables” is defined in Section 2.3. 

“Deliverables Know-How Licensed Product” means, with respect to an Exclusive Target, a Licensed
Product, other than a Valid Claim Licensed Product, that (a) contains a Licensed PROTAC directed to such Exclusive Target that was first synthesized by or on behalf of Arvinas during the relevant Research Term, or by or on behalf of Licensee
prior to [**] after the exercise of the Option for such Exclusive Target pursuant to Section 3.2, in the course of performing activities under this Agreement, or a Direct Modification of such a Licensed PROTAC also directed to such Exclusive
Target and first synthesized by or on behalf of Licensee in the course 

  

			
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of performing activities under this Agreement; and (b) incorporates or is derived from any Deliverables provided to Genentech hereunder, which Deliverables, and the Arvinas Know-How embodied, contained or incorporated within such Deliverables, are maintained by Arvinas as Confidential Information in accordance with the requirements of Article 9 throughout such [**] period after
exercise of the relevant Option. For purposes of the definition of “Deliverables Know-How Licensed Product”, a “Direct Modification” means, with respect to a Licensed PROTAC, any
pharmaceutically acceptable salt, polymorph, isotope or methyl or ethyl ester prodrug of such Licensed PROTAC. 
 “Deliverables Know-How Licensed Product Royalty Term” is defined in Section 6.4.1(b). 
 “Deliverables New
Intellectual Property” is defined in Section 8.2.2. 
 “Determination” is defined in Section 8.8.2. 

“Diligent Efforts” means, with respect to a Party, those commercially reasonable efforts and resources comparable with that of such
Party’s internal program(s) of similar market potential and market size, risk, and at a similar stage of development, or if a Party does not have such an internal program, those commercially reasonable efforts and resources comparable with
those that a Person similarly situated to such Party would normally use to accomplish a similar objective under similar circumstances, in either case, such efforts to be consistent with the exercise of prudent scientific and business judgment. For
clarity, it is understood that [**]. 
 “Disclosing Party” is defined in Section 9.1. 

“Dispute(s)” is defined in Section 14.1. 

“Dmax” means the maximum level of degradation, as measured by
percentage. 
 [**] 
 “Early Evaluation
Notice” is defined in Section 3.2.1(b). 
 “Election Notice” is defined in Section 2.7.1. 

“Election Period” is defined in Section 2.7.1. 

“Enforcement Action” is defined in Section 8.4.2(c). 

“Estimated Reimbursable Research Program Costs” is defined in Section 7.1. 

“EU” means the member states of the European Union, or any successor entity thereto performing similar functions. 

“Evaluation Materials” is defined in Section 3.2.1(a). 

“Excluded Target” means a Target (i) that is listed on Exhibit 1.40 attached hereto (unless subsequently removed from such Exhibit by
Arvinas in its sole discretion), (ii) that is subject to Third Party rights under any agreement entered into by Arvinas or its Affiliate that is in full force 

  

			
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and effect, (iii) that is excluded from Arvinas’ rights under the Yale Agreement, [**], or if such achievement occurred prior to such period, Arvinas or its Affiliate is then committed
in a board approved internal budget to pursue further development of such a PROTAC for its and/or its Affiliates’ own benefit, in each case of clauses (i), (ii), (iii), (iv) or (v), as of the time of Arvinas’ receipt of notice from
Genentech pursuant to Section 2.10.2(b) regarding Genentech’s Expansion Notice or Substitution Notice, whichever is applicable, for such Target and as can be documented by reasonable proof by Arvinas. 

For purposes of determining the applicability of clause (v) above, Arvinas will measure the [**]. 

“Exclusive Activity” is defined in Section 3.4.1. 

“Exclusive License” is defined in Section 3.3.1. 

“Exclusive Molecule” is defined in Section 3.4.1. 

“Exclusive Target” means any Initial Target, or any Substitute Target or Expansion Target that is established as an Exclusive Target pursuant
to Section 2.8.2 or Section 2.10.2, as relevant, in each case, as identified by its [**], including all splice variants, mutants, natural variants, etc. reasonably associated with such [**], and in each case, for so long as such Target
remains an Exclusive Target pursuant to this Agreement. 
 “Existing Liens” is defined in Section 11.2(b). 

“Existing Third Party Agreements” is defined in Section 11.2(h). 

“Expansion Notice” is defined in Section 2.10.2(b). 

“Expansion/Substitution Period” means the period commencing on the Original Effective Date and continuing until March 31, 2023. 

“Expansion Target” is defined in Section 2.10.2(b). 

“Expansion Target Payment” is defined in Section 6.2. 

“Expansion Target Reservation Fee” means [**] U.S. dollars (US$[**]) for each Expansion Target (but for clarity, not any permitted Substitute
for an Expansion Target for which the Expansion Target Reservation Fee has been paid prior to such Substitution). 
 “FDA” means the United
States Food and Drug Administration, or any successor entity thereto performing similar functions. 
 “Field” means, with respect to an
Exclusive Target, the use of a Licensed PROTAC directed to such Exclusive Target or related Licensed Product for any and all purposes relating to the treatment or prevention of any human or animal disease in which such Licensed PROTAC or Licensed
Product mediates degradation of such Exclusive Target. 
 “Filing Party” is defined in Section 8.3.4. 

  

			
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 “First
Commercial Sale” means, with respect to a particular Licensed Product in a given country in the Territory, the first bona fide commercial sale to a Third Party of such Licensed Product in the Field following Marketing Approval in such
country by or under authority of Licensee or its Affiliates or Sublicensees hereunder. For clarity, sales for compassionate use or by a Third Party under a Compulsory Sublicense will not be considered in determining First Commercial Sale. 

“FTE” means the equivalent of one employee of a Party performing work directly related to a Research Program full time for a year, including
experimental laboratory work, recording and writing up results, reviewing literature and references, holding scientific discussions, managing and leading scientific staff, carrying out management duties related to the Research Program, writing up
results for publications or presentation and attending or presenting appropriate education programs, seminars and symposia. The portion of an FTE year devoted by a scientist to the Research Program shall be determined by dividing the number of hours
during any twelve-month period devoted by such employee to the Research Program by [**], which shall be deemed the total number of working hours during such twelve-month period. 

“FTE Costs” is defined in the definition of Research Program Costs. 

“FTE Rate” means [**] U.S. dollars (US$[**]) per year for Arvinas employees and [**] U.S. dollars (US$[**]) for employees of
Arvinas’ subcontractors approved pursuant to Section 2.4, on a fully burdened basis, provided that such FTE Rate shall be adjusted for inflation or deflation on an annual basis, with the first adjustment effective on January 1, 2019,
to reflect any increase or decrease, since the prior adjustment (or the initial rate, as applicable), in the Bureau of Labor Statistics Consumer Price Index for Urban Wage Earners covering the Connecticut region, based on the most recent monthly
index available as of the adjustment date. 
 “Genentech” is defined in the Introduction. 

“Genentech Compounds” means, with respect to an Exclusive Target, those compounds provided by Genentech to Arvinas for use in a
Research Program or Optimization Program pursuant to this Agreement that are identified by Genentech as binding to such Exclusive Target, and any derivatives thereof (including any Target Binding Moiety that contains or incorporates any such
compounds or derivatives thereof but excluding any [**]). 
 “Genentech Materials” is defined in Appendix B. 

“Genentech New Intellectual Property” is defined in Section 8.2.1. 

“Generic Version” means, with respect to a Licensed Product sold by Licensee (or any of its Affiliates or Sublicensees) in the Field in a
particular country in the Territory, any product that (a) is approved for sale in such country in reliance on the prior approval of such Licensed Product as determined by the applicable Regulatory Authority; and (b) is sold by a Third
Party (i) that is a Compulsory Sublicensee authorized to market and sell such product or (ii) that is not a Sublicensee of Licensee (or any of its Affiliates) authorized to market and sell such product and that has not otherwise been
authorized, directly or indirectly, by Licensee (or any of its Affiliates or Sublicensees) to market and sell such product. 

  

			
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“Grantback License” is defined in Section 3.5.1. 

“Grantback Patents” is defined in Section 3.5.1. 

“Grantback Period” is defined in Section 3.5.1(a). 

“Grantback Product” is defined in Section 3.5.1. 

“Guaranteed Obligations” is defined in Section 7.11. 

“Highly Serious” is defined in Section 5.5. 

“IFRS” means International Financial Reporting Standards. 

“IND” means an investigational new drug application filed with the FDA pursuant to 21 CFR Part 312 before the commencement of
clinical trials of a product, or any comparable filing with any relevant regulatory authority in any other jurisdiction. 
 “Indemnitee” is
defined in Section 12.3. 
 “Indemnitor” is defined in Section 12.3. 

“Indication” is defined in Section 6.3.1(b). 

“Infringement” is defined in Section 8.4.1. 

“Initial Target” means any of the Targets set forth in Exhibit 1.74 attached hereto. 

“Joint New Intellectual Property” is defined in Section 8.2.1. 

“JPT” is defined in Section 2.2.2(a). 

“JPT Co-Lead” is defined in Section 2.2.2(b). 

“JRC” is defined in Section 2.2.1(a). 

“JRC Co-Lead” is defined in Section 2.2.1(b). 

“Know-How” means all proprietary information, inventions (whether or not patentable), improvements,
practices, formulae, trade secrets, techniques, methods, procedures, knowledge, results, test data (including pharmacological, toxicological, pharmacokinetic and pre-clinical and clinical information and test
data, related reports, structure-activity relationship data and statistical analysis), analytical and quality control data, protocols, processes, models, designs, and other information regarding discovery, development, marketing, pricing,
distribution, cost, sales and manufacturing. Know-How shall not include any Patent or any information disclosed in a published Patent. 

  

			
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“Laws” means all laws, statutes, rules, regulations, ordinances and other pronouncements having the effect of law of any federal, national,
multinational, state, provincial, county, city or other political subdivision, agency or other body, domestic or foreign. 
 “Lead PROTACs”
is defined in Section 2.7.1. 
 “Lead PROTAC Dossier” is defined in Section 3.2.4. 

“Licensed Product” means, with respect to a Target, any pharmaceutical product that contains a Licensed PROTAC whose primary mechanism of
action is, by design, induction of proteasomal degradation of such Target. 
 “Licensed PROTAC” means, with respect to a Target, a PROTAC
[**], whose primary mechanism of action is, by design, induction of proteasomal degradation of such Target. 
 “Licensee” means
individually, Genentech or Roche, and collectively, Genentech and Roche; but notwithstanding the foregoing, unless expressly specified otherwise, for the purposes of this Agreement, on an Exclusive Target-by-Exclusive Target basis, Roche shall not be considered a “Licensee” with respect to such Exclusive Target unless and until Genentech provides written notice to Arvinas specifying Roche
shall be included as a “Licensee” with respect to such Exclusive Target under this Agreement; provided that Genentech shall remain responsible for Roche’s compliance with all applicable obligations with respect to such Exclusive
Target under this Agreement. Upon receipt of such notice, Roche shall be deemed a “Licensee” with respect to the relevant Exclusive Target under this Agreement for so long as Roche is an Affiliate of Genentech, and all rights and
obligations of a Licensee with respect to such Exclusive Target shall apply to Roche as a “Licensee” with respect to such Exclusive Target as of the date of receipt by Arvinas of such notice with respect to such Exclusive Target and
thereafter for so long as Roche is an Affiliate of Genentech; for clarity, no such rights and obligations of Roche with respect to such Exclusive Target shall apply before such date. Notwithstanding the foregoing, any instance pursuant to this
Agreement where the consent or approval of Licensee is required shall mean the consent or approval of Genentech. 
 “Licensee Indemnitees”
is defined in Section 12.2. 
 “Linker” is defined in the definition of PROTAC. 

“Losses and Claims” is defined in Section 12.1. 

“Major European Market” means Germany, Spain, France, Italy, or the United Kingdom. 

“Marketing Approval” means all approvals, licenses, registrations or authorizations of any federal, state or local regulatory agency,
department, bureau or other governmental entity, necessary for the manufacturing, use, storage, import, transport and sale of Licensed Products in a country or regulatory jurisdiction. For countries where governmental approval is required for
pricing or reimbursement for the Licensed Product, “Marketing Approval” shall not be deemed to occur until such pricing or reimbursement approval is obtained. 

  

			
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“Marketing Approval Application” or “MAA” means BLA, sBLA, NDA, sNDA and any equivalent thereof in the United States or any
other country or jurisdiction in the Territory. As used herein: “BLA” means a Biologics License Application and amendments thereto filed pursuant to the requirements of the FDA, as defined in 21 C.F.R. § 600 et seq., for FDA
approval of a Licensed Product and “sBLA” means a supplemental BLA; and “NDA” means a New Drug Application and amendments thereto filed pursuant to the requirements of the FDA, as defined in 21 C.F.R. § 314 et
seq., for FDA approval of a Licensed Product and “sNDA” means a supplemental NDA. 
 “Market Share Period” is defined in
Section 6.5.2. 
 “Minimum Protein Degradation Criteria” means degradation of the relevant protein by [**] or more as determined by
Western blot or other analytical procedure to detect the relevant protein as mutually agreed by the Parties in the cell line specified in the Research Plan for the relevant Exclusive Target. 

“Net Sales” means, with respect to a Licensed Product, sales of such Licensed Product by Licensee, its Affiliates or Sublicensees, calculated
as follows: 
 an amount calculated by subtracting from the amount of Sales of such Licensed Product: (i) a lump sum deduction of [**] percent ([**]%)
of Sales, less any amounts previously deducted for such Licensed Product pursuant to the definition of Sales, in lieu of those deductions which are not accounted for within Licensee on a Licensed Product-by-Licensed Product basis (e.g., freight, postage charges, transportation insurance, packing materials for dispatch of goods, custom duties); (ii) uncollectible amounts on previously sold
Licensed Product not already taken as part of a gross-to-net deduction in accordance with the then currently used Accounting Standard in the calculation of Sales of such
Licensed Product; (iii) credit card charges (including processing fees) accrued during such period on such Sales and not already taken as a gross-to-net deduction
in accordance with the then currently used Accounting Standard in the calculation of Sales of such Licensed Product; and (iv) government mandated fees, taxes (other than income taxes) and other charges not already taken as a gross-to-net deduction in accordance with the then currently used Accounting Standard in the calculation of Sales of such Licensed Product, including, for example, any such
fees, taxes or other charges that become due in connection with any healthcare reform, change in government pricing or discounting schemes, or other action of a government or regulatory body. 

For the purpose of clarity, sales of Licensed Products by any Compulsory Sublicensee shall be excluded from the calculation of “Net Sales.” 

As used herein this Section: 

(a) Sales Among Affiliates and Sublicensees. Sales between or among a Party, its Affiliates and/or their respective
Sublicensees shall be excluded from the computation of Net Sales, but Net Sales shall include subsequent Sales to a Third Party by any such Party, or its Affiliates or Sublicensees. 

  

			
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(b) Supply as Samples/Test Materials. Notwithstanding anything to the contrary in the definition of Net Sales, the
supply or other disposition of Licensed Products (i) as samples in amounts otherwise reasonable and customary in the industry; (ii) for use in non-clinical or clinical studies; or (iii) for use
in any tests or studies reasonably necessary to comply with any applicable law, regulation or request by a regulatory or governmental authority, in each case, shall not be included in the computation of Net Sales. 

(c) Licensed Products Sold in Combinations. For clarity, the right to sell a Licensed Product directed to an Exclusive
Target as part of a Combination Product, as contemplated below, shall not imply any right of Licensee under any Arvinas Intellectual Property to make, use or sell any PROTAC whose primary mechanism of action is the induction of proteasomal
degradation of any Target other than an Exclusive Target for which an Option has been exercised and an Exclusive License remains in full force and effect. 

(i) In the event that a Licensed Product directed to an Exclusive Target is sold in combination (in the same package, including as a co-formulation, or under the same label) with one or more other active ingredients that are not Licensed PROTACs directed to Exclusive Targets (for purposes of this Section, a “Combination
Product”), the Net Sales of such Licensed Product shall be determined by multiplying the Net Sales of the Combination Product by the fraction, A/(A+B), where: A is the average sale price of the Licensed Product directed to an Exclusive
Target when sold separately in finished form, and B is the average sale price of the other pharmaceutically active product(s) included in the Combination Product when sold separately in finished form, in each case for the most recent period in which
sales of both occurred. If the Licensed Product directed to an Exclusive Target is sold as part of a Combination Product and is sold separately in finished form, but the other pharmaceutically active product(s) included in the Combination Product
are not sold separately in finished form, the Net Sales of such Licensed Product shall be determined by multiplying the Net Sales of the Combination Product by the fraction A/C where: A is the average sale price of the Licensed Product directed to
an Exclusive Target contained in such Combination Product when sold separately in finished form, and C is the average sale price of the Combination Product. If the Licensed Product directed to an Exclusive Target is sold as part of a Combination
Product and is not sold separately in finished form, but the other pharmaceutically active product(s) included in the Combination Product are sold separately in finished form, the Net Sales of such Licensed Product shall be determined by multiplying
the Net Sales of the Combination Product by the fraction C-B/C where: B is the average sale price of the other product(s) included in such Combination Product when sold separately, and C is the average sale
price of the Combination Product. 
 (ii) If Net Sales of the Licensed Product directed to an Exclusive Target when included in a
Combination Product cannot be determined using the methods above, Net Sales shall be calculated by multiplying the Net Sales of the Combination Product by the fraction of E/(E+F) where: E is the fair market value of the Licensed Product directed to
an Exclusive Target in finished form, and F is the fair market value of all other pharmaceutically active product(s) included in the Combination Product in finished form as reasonably determined in good faith by the Parties. Where the preceding
sentence is applicable, Genentech shall in good faith propose to Arvinas, at least [**] prior to the first commercial sale of the Combination Product, an allocation of relative value of the Licensed Product directed to an Exclusive Target

  

			
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and all other pharmaceutically active product(s) included in the Combination Product, Arvinas shall in good faith consider such proposal, and the Parties shall seek to reach agreement on such
allocation. If the Parties are unable to reach such agreement within [**] after Genentech provides such proposal, the issue shall be resolved in accordance with Section 14.2, provided that there shall be a single arbitrator who shall be a
mutually agreeable individual (not affiliated with either Party) with expertise in the marketing and sales of similar pharmaceutical products (including experience in pricing and reimbursement), and the Parties shall use all reasonable efforts to
ensure that such resolution shall occur within [**] after such referral. 
 (iii) The foregoing analysis shall be conducted on a country-by-country basis as reasonably required to compare fair market values of the relevant Combination Product components. 

“Net Sales Report” is defined in Section 7.4.2. 

“New Intellectual Property” is defined in Section 8.2.1. 

“Non-Filing Party” is defined in Section 8.3.4. 

“Non-Publishing Party” is defined in Section 10.5(b). 

“Optimization Completion Criteria” is defined in Section 5.6.1. 

“Optimization Deliverables” is defined in Section 5.6.1. 

“Optimization Plan” is defined in Section 5.6.1. 

“Optimization Program” means, with respect to an Exclusive Target, the activities conducted by the Parties pursuant to Section 5.6 and
the Optimization Plan for such Exclusive Target during the relevant Optimization Term. 
 “Optimization Schedule” is defined in
Section 5.6.1. 
 “Optimization Term” is defined in Section 5.6.4(a). 

“Optimization Work Plan” is defined in Section 5.6.1. 

“Option” is defined in Section 3.2.3. 

“Option Notice” is defined in Section 3.2.3. 

“Option Period” is defined in Section 3.2.3. 

“Original Agreement” is defined in the recitals. 

“Original Effective Date” is defined in the recitals. 

“Other Arvinas Technology” is defined in Section 3.4.2. 

  

			
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“Paragraph IV Action” is defined in Section 8.5.3. 

“Paragraph IV Claim” is defined in Section 8.5.1. 

“Party” or “Parties” means Arvinas and Genentech, and if Roche is included as a “Licensee” pursuant to the
definition of “Licensee” above, Roche, as applicable, but for purposes of Articles 2 and 4 of this Agreement, a “Party” means only either Arvinas or Genentech, as applicable, and the “Parties” means both Arvinas and
Genentech and does not include Roche. For clarity, any reference to the “other Party”, with respect to Licensee, means Arvinas, and any reference to either Party means either Genentech and Roche, on the one hand, or Arvinas, on the other
hand. 
 “Patent(s)” means any and all patents and patent applications and any patents issuing therefrom or claiming priority to,
worldwide, together with any extensions (including patent term extensions and supplementary protection certificates) and renewals thereof, reissues, reexaminations, substitutions, confirmation patents, registration patents, invention certificates,
patents of addition, renewals, divisionals, continuations, and continuations-in-part of any of the foregoing. 

“Payment-Based Valid Claim” is defined in the definition of Valid Claim Licensed Product. 

“Person” means any individual, firm, corporation, partnership, limited liability company, trust, business trust, joint venture company,
governmental authority, association or other entity. 
 “Phase I Clinical Trial” means a human clinical trial, the principal purpose of
which is preliminary determination of safety of a Licensed Product in healthy individuals or patients as described in 21 C.F.R. §312.21, or similar clinical study in a country other than the United States. 

“Phase II Clinical Trial” means a human clinical trial, for which the primary endpoints include a determination of dose ranges and/or a
preliminary determination of efficacy of a Licensed Product in patients being studied as described in 21 C.F.R. §312.21, or similar clinical study in a country other than the United States. 

“Phase III Clinical Trial” means a human clinical trial, the principal purpose of which is to demonstrate clinically and statistically the
efficacy and safety of a Licensed Product for one or more indications in order to obtain Marketing Approval of such Licensed Product for such indication(s), as further defined in 21 C.F.R. §312.21 or a similar clinical study in a country other
than the United States. 
 “Product” means, with respect to a Target, any pharmaceutical product that contains a PROTAC that binds to such
Target. 
 “Proposed Target” means a Target, to be identified by its [**], proposed by Genentech as a Substitute for an Exclusive Target or
as an Expansion Target in accordance with Section 2.10.2. 
 “Prosecution and Maintenance” or “Prosecute and
Maintain”, with respect to a particular Patent, means all activities associated with the preparation, filing, prosecution and maintenance of such Patent (and patent application(s) derived from such Patent), as well as re-examinations, 

  

			
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reissues, applications for patent term adjustments and extensions, supplementary protection certificates and the like with respect to that Patent, together with the conduct of interferences,
derivation proceedings, inter partes review, post-grant review, the defense of oppositions and other similar proceedings with respect to that Patent. For clarity, Prosecution and Maintenance shall exclude any activities associated with claims of
invalidity, unenforceability, or non-infringement of such Patents that are brought by a Third Party in connection with an Enforcement Action under Section 8.4 or a Paragraph IV Claim under
Section 8.5. 
 “PROTAC” means, with respect to a Target, a composition consisting of (a) a moiety that binds to a target protein
(“Target Binding Moiety”) (b) a linker (“Linker”) and (c) a moiety that binds to [**], whose primary mechanism of action is, by design, degradation of such Target. 

“Publishing Party” is defined in Section 10.5(b). 

“Receiving Party” is defined in Section 9.1. 

“Regulatory Approval” means all approvals from the relevant Regulatory Authority necessary to market and sell a Licensed Product in any
country (including without limitation all applicable pricing and governmental reimbursement approvals even if not legally required to sell Licensed Product in a country). For clarity, in the United States, its territories and possessions, Regulatory
Approval means approval of any Marketing Approval Application or equivalent by the FDA. 
 “Regulatory Authority” means any applicable
government regulatory authority involved in granting approvals for the manufacturing, marketing, sale, reimbursement and/or pricing of a Licensed Product in the Territory. 

“Release” is defined in Section 10.1 

“Research Plan” is defined in Section 2.3. 

“Research Program” means with respect to each Exclusive Target, the activities conducted by the Parties pursuant to Article 2 and the
Research Plan for such Exclusive Target during the relevant Research Term. 
 “Research Program Costs” mean, with respect to a particular
Exclusive Target, the costs and expenses calculated as the number of FTEs of Arvinas and/or its subcontractors approved pursuant to Section 2.4 called for in the Research Plan multiplied by the relevant FTE Rate (“FTE Costs”),
incurred by Arvinas after the establishment of such Target as an Exclusive Target pursuant to Section 2.10 below to conduct the activities pursuant to and in accordance with the Research Plan for such Exclusive Target. 

“Research Program Costs Report” is defined in Section 7.4.1. 

“Research Program Period” is defined in Section 7.1. 

“Research Term” is defined in Section 2.6. 

“Rules” is defined in Section 14.2.1. 

  

			
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“Sales” of a Licensed Product means the amount stated in Licensee’s “Sales” line of its externally published audited financial
statements with respect to such Licensed Product for such period (excluding sales to any Sublicensees that are not Affiliates). This amount reflects the gross invoice price of such Licensed Product sold or otherwise disposed of (other than for use
as clinical supplies or free samples) by Licensee, its Affiliates and Sublicensees reduced by gross-to-net deductions (to the extent applied consistently by Licensee,
its Affiliates and Sublicensees with respect to sales of their respective other products) if not previously deducted from the amount invoiced, taken in accordance with the then currently used Accounting Standard as follows: 

(a) credits, reserves or allowances granted for (i) damaged, outdated, returned, rejected, withdrawn or recalled Licensed Product, wastage
replacement, and short-shipments; (ii) billing errors and (iii) indigent patient and similar programs (e.g., price capitation); 

(b) governmental price reductions and government mandated rebates; 

(c) chargebacks, including those granted to wholesalers, buying groups and retailers; 

(d) customer rebates including cash sales incentives for prompt payment, cash and volume discounts; and 

(e) taxes, duties and any other governmental charges or levies imposed upon or measured by the import, export, use, manufacture or sale of a
Licensed Product. Income or franchise taxes are excluded. 
 For the purpose of clarity, sales of Licensed Products between or among any of Licensee, its
Affiliates, and their Sublicensees and sales of Licensed Products of any Compulsory Sublicensee shall be excluded from “Sales”, but Sales shall include subsequent sales to a Third Party by any such Licensee, Affiliate or Sublicensee. 

“Schedule” is defined in Section 2.3. 

“Serious” is defined in Section 5.5. 

“Stage I” is defined in Section 2.3. 

“Stage II” is defined in Section 2.3. 

“Sublicensee” is defined in Section 3.3.2. 

“Substitute” is defined in Section 2.8.1. 

“Substitute Target” is defined in Section 2.10.2(b). 

“Substitution Notice” is defined in Section 2.10.2(b). 

  

			
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“Target” means any protein to which a PROTAC, by design, binds in order to achieve its primary mechanism of action of protein degradation, in
each case as identified by [**], including all splice variants, mutants, natural variants, etc. reasonably associated with [**]. 
 “Target Binding
Moiety” is defined in the definition of PROTAC and, for clarity, shall not include [**]. 
 “Term” is defined in
Section 13.1. 
 “Territory” means worldwide. 

“Third Party” means any entity other than Arvinas or Genentech or an Affiliate of either. 

“Third Party Infringement Claim” is defined in Section 8.6.1. 

“Third Party Reviewer” is defined in Section 3.2.1(a). 

“Third Party Target Reviewer” is defined in Section 2.10.2(a). 

“Title 11” is defined in Section 13.3. 

“Transaction” is defined in Section 3.4.3. 

“US” means the United States of America and its territories and possessions. 

“Valid Claim” means, with respect to a particular country, a claim in an issued and unexpired Patent in such country that has not been
disclaimed, revoked, held unenforceable, unpatentable or invalid by a decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and that has not been admitted to be
invalid or unenforceable through re-examination, re-issue, disclaimer or otherwise, or lost in an interference proceeding. 

“Valid Claim Licensed Product” means, with respect to an Exclusive Target, a Licensed Product containing a Licensed PROTAC directed to such
Exclusive Target, the sale of which is Covered by a Valid Claim of a Patent (a) within the Arvinas Intellectual Property or Joint New Intellectual Property or Deliverables New Intellectual Property or (b) otherwise owned and controlled by
Licensee (i) claiming any invention within the Deliverables or Optimization Deliverables with respect to such Exclusive Target or (ii) for which any representative of Arvinas is a named inventor, which includes Dr. Craig Crews
(collectively, subsections (a) and (b), “Payment-Based Valid Claims”). 
 “Valid Claim Licensed Product Royalty Term”
is defined in Section 6.4.1(a). 
 [**] 
 “Work
Plan” is defined in Section 2.3. 

  

			
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 “Yale
Agreement” means the License Agreement between Yale University and Arvinas dated as of July 5, 2013, as previously amended as of May 8, 2014, October 23, 2014 and April 1, 2015, and as amended by that certain letter
agreement dated as of the Original Effective Date with respect to this Agreement, which agreement governs Arvinas’ rights to certain Arvinas Intellectual Property. The Yale Agreement may be further amended or modified during the Term, subject
to Section 11.2(j). 
 “Yale Patent Challenge” is defined in Section 8.8. 

“Yale Patent Sublicensees” is defined in Section 8.8. 

“Yale Royalties” is defined in Section 8.8.1. 

ARTICLE 2 
 RESEARCH
PROGRAM 
 2.1 General. For each Exclusive Target established as mutually agreed upon by the Parties pursuant to Section 2.10 below, Arvinas
and Genentech shall conduct a Research Program in accordance with this Agreement and the Research Plan for such Exclusive Target. Each Party shall comply with all laws, rules and regulations applicable to the conduct and documentation of its
Research Program activities. Each Party shall, in performing its obligations under any Research Program, assign responsibilities to those portions of its organization that have the appropriate resources, expertise and responsibility for such
obligations. 
 2.2 Governance. 
 2.2.1
Joint Research Committee. 
 (a) Establishment of the JRC. Within [**] after the A&R Effective Date, the Parties shall
establish a joint research committee (the “JRC”). The JRC shall be composed of at least [**], but no more than [**], representatives designated by each Party (and the Parties need not have the same number of representatives). The
representatives shall be appropriate (in terms of their seniority, training, experience, availability, and function) for the tasks being undertaken in the Research Programs and/or Optimization Program(s). Each Party shall bear the expense of its
respective representatives’ participation on the JRC. 
 (b) JRC Co-Leads. Each Party
shall designate one of its JRC representatives as its primary JRC contact for JRC matters (such Party’s “JRC Co-Lead”). A Party may replace any or all of its JRC representatives (and
designated JRC Co-Lead) at any time by notifying the other Party’s Alliance Manager in writing (which may be by email). [**] JRC Co-Lead shall be responsible for
scheduling JRC meetings and setting meeting agendas and calling emergency JRC meetings. 
 (c) Responsibilities of the JRC. The JRC
shall be responsible for performing the following functions: 
  

	 	(i)	 review and approve each initial Research Plan and initial Optimization Plan; 

  

			
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	 	(ii)	 review and approve any proposed change to the Completion Criteria of a Research Plan or to the Optimization
Completion Criteria of an Optimization Plan; 

  

	 	(iii)	 monitor the efforts and resources (including FTEs) actually employed for each Research Program as compared to
the applicable Research Plan; 

  

	 	(iv)	 monitor the efforts and resources actually employed for each Optimization Program as compared to the applicable
Optimization Plan; 

  

	 	(v)	 evaluate the progress of each Research Program, as compared with the objectives set forth in this Agreement and
the applicable Research Plan; 

  

	 	(vi)	 evaluate the progress of each Optimization Program, as compared with the objectives set forth in this Agreement
and the applicable Optimization Plan; 

  

	 	(vii)	 oversee the JPT including disputes at the JPT; and 

 

	 	(viii)	 perform such other functions referred to in a Research Plan or Optimization Plan or as agreed to in writing by
the Parties. 

 (d) Meetings; Attendees. Once established, the JRC shall meet at least [**] (unless otherwise
agreed by the Parties) during its term of operation and shall meet at such other times as deemed appropriate by the JRC. The JRC may meet in person or via teleconference, video conference or the like, provided that at least [**] shall be held in
person, unless otherwise agreed by the Parties. If a Party’s JRC representative(s) is unable to attend a given JRC meeting, such Party may designate an alternate to attend such meeting and perform the functions of such absent representative.
Each Party may invite a reasonable number of non-voting employees, consultants or scientific advisors to attend JRC meetings, provided that such invitees are bound by appropriate confidentiality obligations.

 (e) Decision Making Authority; Deadlocks. With respect to the responsibilities of the JRC, each Party shall have one
(1) collective vote in all decisions, and the Parties shall attempt to make decisions by consensus. A decision by the JRC shall be made at a JRC meeting; however, a decision by the JRC may also be made without a JRC meeting if such decision is
agreed to in writing (including by email) by each Party’s JRC Co-Lead (or his or her designee) and each Party’s writing clearly indicates that such decision is being made as a formal decision of the
JRC without a meeting. 
 If the JRC cannot reach agreement within [**] of an issue being brought to a vote, then, notwithstanding the Dispute resolution
provisions of Article 14, the matter will be referred in writing to an executive of each Party (or such executive’s designee). If such executives (or their designees) are unable to reach agreement within [**] of an issue being brought to
them hereunder, then [**] shall have the right to finally decide the resolution to such Dispute. Notwithstanding the foregoing, [**] shall not be obligated, as a result of a deciding vote by [**], to (i) perform any initial Optimization Plan
that was not approved by [**] JRC members under 

  

			
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Section 5.6.1, (ii) commit greater resources than contemplated in the applicable Research Program’s initial agreed upon Research Plan or in the applicable Optimization Program’s
initial agreed upon Optimization Plan, (iii) perform or obtain scientific capabilities that it does not possess and is not providing, via a Third Party, under the applicable Research Program’s initial agreed upon Research Plan or under the
applicable Optimization Program’s initial agreed upon Optimization Plan, (iv) violate any obligation or agreement it may have with a Third Party; (v) incur costs in excess of what is agreed to under the applicable Research Plan or
Optimization Plan, (vi) perform activities beyond the applicable Research Term or Optimization Term or (vii) cause it to violate any law or intellectual property right of any Third Party. Neither the JRC nor [**] (as the final JRC decision
maker) has the authority to amend, or to waive compliance with, any provisions of this Agreement. 
 (f) Minutes; Other Documentation of
Decisions. The JRC shall keep minutes of its meetings that record in writing all decisions made, action items assigned or completed and other appropriate matters. [**] shall be responsible for keeping such meeting minutes. Meeting minutes shall
be sent to both Parties promptly after a meeting for review, comment, and approval by each Party. The JRC shall also maintain records of any JRC decisions taken, per subsection (e) above, outside of a JRC meeting. 

(g) Research Program and Optimization Program Progress Reports to the JRC; Disclosure of
Know-How. At each [**] JRC meeting, the JRC shall receive a written, summary update from the JPT regarding the progress in achieving the applicable Completion Criteria for each Research Program and the
applicable Optimization Completion Criteria for each Optimization Program. Genentech may, in its sole discretion, provide information or data within the Genentech Know-How to the JRC to support a Research
Program or an Optimization Program. Likewise, Arvinas may, in its sole discretion, provide information or data within the Arvinas Know-How to the JRC to support a Research Program or an Optimization Program,
but the Parties acknowledge that Arvinas shall not, unless expressly requested by Genentech in writing, disclose to Genentech (including to Genentech’s JRC representatives) any chemical structure information regarding any portion of any
Licensed PROTAC directed to any Target for which Genentech has not exercised an Option under Section 3.2. 
 (h) Term of JRC
Operations. The JRC shall meet until all Research Terms and, if applicable, all Optimization Terms have expired or been terminated, but in any event until the expiration of the Expansion/Substitution Period. Thereafter, the JRC shall cease
operations and perform no further functions under this Agreement. 
 2.2.2 Joint Project Team. 

(a) Establishment of the JPT. Within [**] after the A&R Effective Date, the Parties shall establish a joint project team (the
“JPT”). The JPT shall be composed of at least [**], but no more than [**], representatives designated by each Party (and the Parties need not have the same number of representatives). The representatives shall be appropriate (in
terms of their seniority, training, experience, availability, and function) for the tasks being undertaken in the Research Programs and Optimization Program(s). Each Party shall bear the expense of its respective representatives’ participation
on the JPT. A Party’s representative on the JPT may not also be a Party’s representative on the JRC. 

  

			
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(b) JPT Co-Leads. Each Party shall designate one of its JPT representatives as its primary JPT
contact for JPT matters (such Party’s “JPT Co-Lead”). A Party may replace any or all of its JPT representatives (and designated JPT Co-Lead) at any
time notifying the other Party’s Alliance Manager in writing (which may be by email). [**] JPT Co-Lead shall be responsible for scheduling JPT meetings and setting meeting agendas and calling emergency
JPT meetings. 
 (c) Responsibilities of the JPT. The JPT shall be responsible for performing the following functions:

  

	 	(i)	 draft each initial Research Plan and initial Optimization Plan and present such plans to the JRC for approval;

  

	 	(ii)	 propose, review and approve changes to an approved Research Plan or to an approved Optimization Plan (other
than changes to Completion Criteria or Optimization Completion Criteria) 

  

	 	(iii)	 propose for the JRC’s review and approval changes to the Completion Criteria in an approved Research Plan
or the Optimization Completion Criteria in an approved Optimization Plan; 

  

	 	(iv)	 monitor each Party’s performance of their respective obligations under each Research Plan and Optimization
Plan; 

  

	 	(iv)	 report to the JRC the progress of each Research Program and Optimization Program; and 

 

	 	(v)	 serve as the primary conduit for the transfer of materials, data, and information between the Parties for each
Research Program and Optimization Program. 

 (d) Meetings; Attendees. Once established, the JPT shall, while there
is a Research Program or an Optimization Program either on-going or being planned by the Parties, meet at least [**] (unless otherwise agreed by the Parties), and if there are no Research Program(s) or
Optimization Program(s) either on-going or being planned by the Parties, the JPT shall meet at such other times as deemed appropriate by the JPT. The JPT may meet in person or via teleconference, video
conference or the like, provided that at least [**] shall be held in person, unless otherwise agreed by the Parties. If a Party’s JPT representative is unable to attend a given meeting, such Party may designate an alternate to attend such
meeting and perform the functions of such representative. Each Party may invite a reasonable number of non-voting employees, consultants or scientific advisors to attend JPT meetings, provided that such
invitees are bound by appropriate confidentiality obligations. 
 (e) Decision Making Authority; Deadlocks. With respect to the
responsibilities of the JPT, each Party shall have one (1) collective vote in all decisions, and the Parties shall attempt to make decisions by consensus. A decision by the JPT shall be made at a JPT meeting; however, a decision by the JPT may
also be made without a JPT meeting if such 

  

			
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decision is agreed to in writing (including by email) by each Party’s JPT Co-Lead (or his or her designee) and each Party’s writing clearly
indicates that such decision is being made as a formal decision of the JPT without a meeting. If the JPT cannot reach agreement within [**] of an issue being brought to a vote, then, notwithstanding the Dispute resolution provisions of Article
14, the matter will be referred in writing to the JRC for resolution. 
 (f) Minutes; Other Documentation of Decisions. The JPT
shall keep minutes of its meetings that record in writing all decisions made, action items assigned or completed and other appropriate matters. [**] shall be responsible for keeping such meeting minutes. Meeting minutes shall be sent to both Parties
promptly after a meeting for review, comment, and approval by each Party. The JPT shall also maintain records of any JPT decisions taken, per subsection (e) above, outside of a JPT meeting. 

(g) Research Program and Optimization Program Progress Updates to the JPT; Disclosure of
Know-How. Each Party shall use Diligent Efforts to keep the JPT informed of its activities, if any, under each Research Program and Optimization Program, and Arvinas shall provide the JPT, at each [**] JPT
meeting, with a summary update regarding its progress in achieving the Completion Criteria for each Research Program and the Optimization Completion Criteria for each Optimization Program. Genentech may, in its sole discretion, provide information
or data within the Genentech Know-How to the JPT to support a Research Program or an Optimization Program. Likewise, Arvinas may, in its sole discretion, provide information or data within the Arvinas Know-How to the JPT to support a Research Program or an Optimization Program, but the Parties acknowledge that, unless expressly requested by Genentech in writing, Arvinas shall not disclose to Genentech (including
to Genentech’s JPT representatives) any chemical structure information regarding any portion of any Licensed PROTAC directed to any Target for which Genentech has not exercised an Option under Section 3.2. 

(h) Term of JPT Operations. The JPT shall meet until all Research Terms and, if applicable, all Optimization Terms have expired or been
terminated, but in any event until the expiration of the Expansion/Substitution Period. Thereafter, the JPT shall cease operations and perform no further functions under this Agreement. 

2.3 Research Plan. Within [**] of the establishment of each Exclusive Target pursuant to Section 2.10 below (or within such longer period as is
mutually agreed upon by the Parties), Arvinas and Genentech, through the JPT, shall prepare and, through the JRC, agree upon a research plan consistent (unless otherwise agreed by both Parties in writing) with the general research plan outline
attached hereto under Appendix A (Research Plan Outline), including a Budget equal to the general budget set forth under Appendix A, for such Exclusive Target (each, a “Research Plan”). The Research Plan shall set
forth in reasonable detail the activities, including timelines and budgets therefor (including any relevant FTE requirements for Arvinas), of each of the Parties to use Diligent Efforts in order to identify Licensed PROTACs that demonstrate
(a) in vitro protein degradation of the Exclusive Target (“Stage I”) and (b) certain in vitro[**]and in vivo[**]activity (“Stage II”). For each of Stage I and Stage II of the Research
Program, the Research Plan shall include scope of activities (“Work Plan”), timeline (“Schedule”), estimated costs and expenses (“Budget”), criteria for completion (“Completion
Criteria”) and deliverables to be provided, including the Evaluation Materials (as may be provided under Section 3.2.1) and the Lead PROTAC Dossier (as may be provided under Section 3.2.4) (collectively, the
“Deliverables”). 

  

			
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 It is understood
the Research Plan shall not include IND enabling activities, such as preparation for regulatory filings and the like, except as the Parties may agree on a case-by-case
basis and in writing to collaborate on such IND enabling activities and include such activities in reasonable detail in the Research Plan. Notwithstanding the foregoing, Arvinas shall provide any authorizations, consents, references, or other
documentation, including permission to cross-reference any relevant INDs previously filed by Arvinas, as necessary to support IND enabling activities in the Field in the Territory for a particular Licensed Product for which Genentech has exercised
its Option under Section 3.2. As referenced throughout this Agreement, the “Research Plan” shall include the initial Research Plan prepared in accordance with this Section 2.3 and any revisions to such Research Plan as
expressly contemplated under this Agreement or as otherwise agreed upon by the Parties in writing. 
 The Research Plans for the two (2) Initial
Targets were approved by the Parties on the Original Effective Date and were attached as Exhibits 2.3(a) and 2.3(b) to the Original Agreement. 
 2.4
Subcontractors. Arvinas may not subcontract portions of its work under the Research Plan to Affiliates or Third Parties without Genentech’s prior written consent, such consent not to be unreasonably withheld or delayed; provided that
each such consent shall require that such subcontract is consistent with the relevant terms and conditions of this Agreement, including that (a) no intellectual property of such Third Party subcontractor shall be utilized or incorporated into
such subcontracted portion, and (b) any intellectual property resulting from such subcontracted portion shall be assigned to Arvinas such that such intellectual property shall be deemed “Controlled” by Arvinas and included within the
Joint New Intellectual Property or Arvinas New Intellectual Property, as appropriate, hereunder. As of the Original Effective Date, Genentech consented to Arvinas subcontracting with [**] to conduct services with respect to the Research Programs by
and on behalf of Arvinas. Genentech may subcontract portions of its work under the Research Program to Affiliates or Third Parties; provided that each such subcontract is consistent with the relevant terms and conditions of this Agreement including
that any intellectual property resulting from such subcontracted portion shall be assigned to Genentech such that such intellectual property shall be deemed “Controlled” by Genentech and included within the Joint New Intellectual Property
hereunder or Genentech New Intellectual Property, as appropriate, hereunder. In any case, the subcontracting Party shall remain responsible (at its cost) for and shall ensure that each subcontractor complies with the terms and conditions of this
Agreement. 
 2.5 Conduct; Costs. 
 2.5.1
Research Plan Approval. Following the establishment of the JRC, unless the relevant Research Plan has been approved in writing by the Parties prior to such date, the JRC shall review and approve the initial Research Plan for each Exclusive
Target, which plan shall be prepared by the JPT in accordance with Section 2.3. During the Research Term for each Exclusive Target, the JPT shall, as necessary or desired from
time-to-time, propose and approve revisions to such initially approved Research Plan; except that any proposed revisions to the Completion Criteria of an approved
Research Plan require the JRC’s approval prior to implementation. In the event of any conflict or inconsistency between the main body of this Agreement and any Research Plan, the terms and conditions of the main body of this Agreement shall
prevail. 

  

			
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 For clarity and
as noted elsewhere in this Agreement, as of the A&R Effective Date, (i) the Research Program for the Initial Target [**] has been terminated, and thus [**] is no longer an Exclusive Target, and (ii) the Research Program for the other
Initial Target, [**], has been terminated per Section 3.2.4(a) as a result of Genentech’s exercise, as of the A&R Effective Date, of its Option for such Target. 

2.5.2 Arvinas. For each Exclusive Target established pursuant to Section 2.10 below, Arvinas shall use Diligent Efforts to conduct
its activities under the relevant Research Plan during the relevant Research Term. Arvinas shall devote such numbers of scientists, with the requisite qualifications, as the Research Program may require to meet such Diligent Efforts requirement, but
in no event, unless the JPT or JRC otherwise agrees, shall Arvinas devote less than any specific numbers of FTEs set forth in the applicable Research Plan. For clarity, Arvinas shall not be obligated to conduct work for any Exclusive Target unless
and until the relevant initial Research Plan (including the relevant Budget) is agreed upon by the JRC in accordance with Section 2.3, which Research Plan (and Budget) may be revised by the JPT or JRC, as applicable, in accordance with
Section 2.5.4 below. The Parties agree that Arvinas shall not be obligated to incur any Research Program Costs with respect to any Research Program in excess of the relevant Budget for such Research Program as agreed upon hereunder by the JPT
or JRC, as applicable, or otherwise in writing; provided that Arvinas may only suspend its activities under the relevant Research Plan (i) in the event the Research Program Costs incurred by Arvinas exceed the relevant Budget for such Research
Program that has been agreed upon hereunder by the JPT or JRC, as applicable, (ii) as otherwise expressly permitted under this Agreement, or (iii) as otherwise agreed in writing by the Parties. 

2.5.3 Genentech. Genentech shall perform its obligations under each Research Program using such number of Genentech FTEs as it deems
appropriate to conduct activities delegated to it under such Research Program. 
 2.5.4 Costs. Except as otherwise expressly provided
in this Agreement or agreed to by the Parties in writing, each Party shall be responsible for any costs it incurs in performing activities under each Research Program or otherwise under this Agreement, including the costs of providing information or
materials to the other Party. 
 (a) In the event the Completion Criteria for Stage I and/or Stage II for a given Research Program will not
be achieved by the time the Research Program Costs incurred by Arvinas exceed the initial Budget for such Research Program prepared in accordance with Section 2.3, Arvinas shall notify Genentech’s Alliance Manager in writing of such event
at least [**] prior to the start of the calendar month in which such event will occur, and the following shall apply: 
 (i) The JPT or, if
applicable, JRC shall, within a period not to exceed [**] after the date of Genentech’s receipt of Arvinas’ notice pursuant to Section 2.5.4(a) above, agree on revisions to the Research Plan (including Work Plan, Schedule, Budget and
Completion 

  

			
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Criteria) for such Research Program as reasonably requested by Genentech; provided that the revised Research Plan is consistent with the general scope of the original Research Plan and requires
no greater numbers of FTEs that were devoted to the original Research Plan, and that the activities under the revised Research Plan will be completed within [**] from the date such initial Budget is exceeded. Notwithstanding the foregoing, such [**]
period shall be extended by the Parties for a period not to exceed an additional [**] as reasonably requested by Genentech if the Parties are continuing to revise in good faith such Research Plan at the end of such [**] period; and 

(ii) Genentech may elect, at its sole discretion and by notifying Arvinas’s Alliance Manager in writing within [**] of mutual agreement
on a revised Research Plan (and Budget) as provided in Section 2.5.4(a)(i), to continue to conduct such Research Program in accordance with this Agreement and the Research Plan as revised pursuant to Section 2.5.4(a)(i) above, and
Genentech shall reimburse Arvinas for any Research Program Costs incurred by Arvinas in excess of the initial Budget for such Research Program as provided in Section 7.1; provided that Arvinas shall be solely responsible for any such Research
Program Costs unless and until the JPT or, if applicable, JRC has approved such Research Program Costs in the revised Budget. Notwithstanding the foregoing, such [**] period shall be extended by the Parties for a period not to exceed an additional
[**] as reasonably requested by Genentech if required to secure the relevant internal approvals. 
 (iii) Notwithstanding the foregoing, if
the JPT or, if applicable, JRC, despite good faith efforts, does not agree on a revised Research Plan (and Budget) as set forth in Section 2.5.4(a)(i) or if Genentech does not elect to continue to conduct the relevant Research Program as set
forth in Section 2.5.4(a)(ii) above, in either case, within the time periods set forth therein, then, unless Genentech exercises its right to request an early receipt of the Deliverables and Evaluation Materials pursuant to
Section 3.2.1(b), the relevant Research Program shall terminate as of the end of the time periods set forth therein, which termination shall be deemed made in accordance with Section 13.4 (but without any [**] delay), and shall be subject
to Sections 2.6 and 13.5, as applicable. 
 (b) In the event the Completion Criteria for Stage I and/or Stage II for a given Research Program
will not be achieved by the time the Research Program Costs incurred by Arvinas exceed the revised Budget for such Research Program prepared in accordance with this Section 2.5.4(a)(i) above, Arvinas shall notify Genentech’s Alliance
Manager in writing of such event at least [**] prior to the start of the calendar month in which such event will occur, and Genentech may elect, at its sole discretion, to exercise its right to request an early receipt of the Deliverables and
Evaluation Materials pursuant to Section 3.2.1(b). If Genentech does not elect to exercise its right to request an early receipt of the Deliverables and Evaluation Materials pursuant to Section 3.2.1(b), before the Research Program Costs
incurred by Arvinas exceed such revised Budget, then the relevant Research Program shall terminate as of the date the Research Program Costs incurred by Arvinas exceed the revised Budget for such Research Program, which termination shall be deemed
made in accordance with Section 13.4 (but without any [**] delay), and shall be subject to Sections 2.6 and 13.5 below, as applicable. 

  

			
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 2.6 Research
Term; Termination. The Research Program for a particular Exclusive Target shall commence upon the initiation of activities under the Research Plan for such Exclusive Target and shall continue, unless earlier terminated in accordance with the
provisions of this Agreement, until the termination of the Research Program for such Exclusive Target in accordance with Section 3.2, but no longer than [**] directed to such Exclusive Target, unless otherwise mutually agreed upon the Parties
(each, a “Research Term”). 
 2.6.1 In the event, upon any termination of the Research Program for a particular Exclusive
Target that is an Initial Target or that is an Expansion Target for which the Expansion Target Payment has been made, the Research Program Costs incurred by Arvinas have not equaled the initial Budget for such Research Program prepared in accordance
with Section 2.3 for such Exclusive Target, the amount of such remaining Budget for such Exclusive Target shall be applied as a credit towards any amounts due as reimbursement for the Research Program Costs incurred by Arvinas for any
Substitute Target for such Exclusive Target in accordance with Section 2.8.2. Arvinas shall notify Genentech in writing of any such residual amount within [**] following the end of the calendar quarter in which such termination occurred.
Genentech shall have the right, at its election, to apply the amount of such remaining Budget as a credit towards any payments subsequently owed to Arvinas hereunder (other than a payment to be made under Section 6.1(b) or 6.2 in conjunction
with the execution of this Agreement). 
 As of the A&R Effective Date, Genentech has a [**] U.S. dollar (US$[**]) credit under this subsection as a
result of the termination of the Research Programs for the Initial Targets. 
 2.6.2 Upon any termination of the Research Program for a
particular Exclusive Target in accordance with the provisions of this Agreement, Arvinas shall return or destroy (and provide written certification thereof) any Genentech Compounds (including any such Genentech Compounds as contained or incorporated
in any PROTAC or any Deliverables), and Arvinas shall not use any Confidential Information of Genentech (including any such information regarding the Genentech Compounds as provided by Genentech or as contained or incorporated in the Deliverables)
in any subsequent efforts conducted by Arvinas, its Affiliates or their respective Third Party licensees with respect to any such Exclusive Target (other than pursuant to an ongoing Research Program under this Agreement), unless and until such
Confidential Information is no longer considered “confidential” under the exclusions to the confidentiality obligations under Article 9 of this Agreement. 

2.6.3 Upon any termination of the Research Program for a particular Exclusive Target pursuant to Section 2.5.4, 2.7.3, 2.8.2, 2.11 or
3.2.5 (but not any termination upon exercise of the Option with respect to such Exclusive Target pursuant to Section 3.2.4), Genentech shall return or destroy (and provide written certification thereof) any Deliverables (including any remaining
quantities of any Evaluation Materials) that have been provided to Genentech with respect to such Exclusive Target, and Genentech shall not use any Confidential Information of Arvinas provided hereunder with respect to such Exclusive Target
(including any such information regarding the Deliverables as provided by Arvinas or as contained or incorporated in such Deliverables), unless and until such Confidential Information is no longer considered “confidential” under the
exclusions to the confidentiality obligations under Article 9 of this Agreement. 
 2.7 Election to Advance. 

  

			
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2.7.1 Completion of Stage I. Upon achievement of the Completion Criteria for Stage I under a Research Plan for a particular Exclusive
Target, Arvinas shall suspend its activities under the relevant Research Plan and provide to the JPT Co-Leads the Deliverables with respect to Stage I for such Exclusive Target, including a summary report that includes results of the assays for any
Licensed PROTAC(s) directed to such Exclusive Target conducted in evaluating in vitro protein degradation of such Exclusive Target in accordance with the Completion Criteria for Stage I of the Research Plan, without disclosing the chemical
structures of such Licensed PROTACs (such Licensed PROTACs, the “Lead PROTACs”). Following Genentech’s receipt of the Deliverables with respect to Stage I for such Exclusive Target, Genentech shall have the right, in its sole
discretion, to elect whether to advance the Research Program for such Exclusive Target to Stage II. The relevant Deliverables (and any Confidential Information contained or incorporated in such Deliverables to the extent such information does not
fall within any exclusions under Section 9.2) shall remain the property and Confidential Information of Arvinas, and shall be used by Genentech for the sole purpose of evaluating whether or not to make any such election or an election to
exercise the relevant Option, unless and until the Option to the relevant Exclusive Target has been exercised. Unless and until the Option to the relevant Exclusive Target has been exercised, Genentech shall not sell, transfer or disclose any such
Deliverables (and including any Confidential Information contained or incorporated in such Deliverables to the extent such information does not fall within any exceptions under Section 9.2) to any other Person, without first receiving the prior
written consent of Arvinas, which consent shall not be unreasonably withheld. 
 Genentech may exercise such right by notifying Arvinas’s Alliance
Manager in writing (“Election Notice”) at any time during the period from Genentech’s receipt of the Deliverables with respect to Stage I for such Exclusive Target until [**] thereafter (“Election Period”);
provided that in the event of a good faith dispute between the Parties as to whether or not the Completion Criteria for Stage I of the Research Plan have been achieved, Arvinas shall provide, at Genentech’s request, any additional information
that is within the scope of the Research Plan and Budget and reasonably necessary to determine the achievement of the Completion Criteria for Stage I of the Research Plan for such Exclusive Target (including performing any mutually agreed additional
activities to generate such additional information that are to be reimbursed in accordance with Section 2.5.2) and the Election Period shall toll from the time of such request until Genentech’s receipt of such additional information, or as
otherwise mutually agreed upon by the Parties. For clarity, any additional information provided to Genentech pursuant to this Section shall be deemed included in the Deliverables. 

The Parties shall not conduct any further activities under the Research Plan for such Exclusive Target unless and until Genentech, in its sole discretion,
elects to advance the Research Program for such Exclusive Target pursuant to this Section; provided that in the event an Election Notice is not provided to Arvinas within the Election Period (as may be extended as set forth above), Genentech shall
be deemed to have elected to not advance the Research Program for such Exclusive Target and to terminate the Research Program in accordance with Section 2.7.3 below. 

2.7.2 Advancement. Upon receipt of an Election Notice to advance the Research Program for a particular Exclusive Target in accordance
with Section 2.7.1 above, the Parties shall continue to conduct the Research Program in accordance with this Agreement and the Research Plan for such Exclusive Target. 

  

			
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2.7.3 Non-Advancement. In the event an Election Notice is not provided to Arvinas within the
Election Period (as may be extended as set forth above) for a particular Exclusive Target pursuant to Section 2.7.1 above, the Research Program for such Exclusive Target shall terminate, and this Agreement shall be deemed terminated with
respect to such Exclusive Target in accordance with Section 13.4 (but without any [**] delay), subject to Sections 2.6 and 13.5 below as applicable. Notwithstanding the foregoing, Genentech shall have the right to Substitute such Exclusive
Target pursuant to Section 2.8.1(b) below, at no additional cost or expense except as expressly set forth under Section 2.8.2 below. 
 2.8
Target Substitution. 
 2.8.1 During the Expansion/Substitution Period, Genentech shall have the right, at no additional cost or
expense, to substitute for an Exclusive Target and designate a different Proposed Target as an Exclusive Target (“Substitute”) by providing a Substitution Notice to Arvinas in accordance with the procedures set forth under
Section 2.10.2 below as follows: 
 (a) in the event that, through no fault of Genentech, Arvinas has not yet commenced its activities
under the Research Plan for a particular Exclusive Target, Genentech may Substitute for such Exclusive Target, [**] pursuant to this Section 2.8.1(a); 

(b) in the event that no Licensed PROTAC identified under Stage I of the Research Plan for a particular Exclusive Target demonstrates
achievement of the Minimum Protein Degradation Criteria with respect to such Exclusive Target within the first [**] of the later of (i) commencement of the Research Program for such Exclusive Target and (ii) receipt by Arvinas of any
Genentech Compounds to be provided to Arvinas as set forth in the relevant Research Plan, Genentech may Substitute for such Exclusive Target, [**] pursuant to this Section 2.8.1(b); provided, however, that Genentech may only Substitute such
Exclusive Target [**] pursuant to this Section 2.8.1(b) if the particular Exclusive Target was in the first instance one of its first [**] Expansion Targets designated as an Exclusive Target under Section 2.10.2; 

(c) in the event, at any time prior to the end of the applicable Option Period, Genentech terminates the Research Program in accordance with
this Agreement for any Exclusive Target that was either an Initial Target or a Substitute for an Initial Target, Genentech may Substitute for such Exclusive Target [**] pursuant to this Section 2.8.1(c); and 

(d) in the event, at any time prior to the end of the applicable Option Period, Genentech terminates the Research Program in accordance with
this Agreement for any Exclusive Target that is one of its first [**] Expansion Targets designated as an Exclusive Target under Section 2.10.2 (or a Substitute made under Section 2.8.1(a) or (b) above for any such Expansion Target),
Genentech may Substitute for such Exclusive Target [**] pursuant to this Section 2.8.1(d). 
 For clarity, the Parties agree that, except for the
substitution right provided in Section 2.8.1(a) above, Genentech shall have no right to Substitute under this Section 2.8 for any Exclusive Target that is one of the [**] Expansion Targets designated as an Exclusive Target under
Section 2.10.2. 

  

			
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 The Parties agree
that, as of the A&R Effective Date, (1) no Licensed PROTAC identified under Stage I of the Research Plan for Genentech’s Initial Target of [**] achieved the Minimum Protein Degradation Criteria within the first [**] of the later of
(i) commencement of the [**] Research Program and (ii) receipt by Arvinas of any Genentech Compounds to be provided under the [**] Research Plan, (2) Genentech notified Arvinas in writing that it terminated the [**] Research Program,
and (3) Genentech may, per subsection (b) above, Substitute for [**] under the process in Section 2.10.2. 
 2.8.2 Once a
Substitute Target for a particular Exclusive Target is established pursuant to Section 2.10.2, if not previously terminated as expressly permitted hereunder, the Research Program for such Exclusive Target shall be deemed terminated, and this
Agreement shall terminate with respect to such Exclusive Target in accordance with Section 13.4 (but without any [**] delay), subject to Sections 2.6 and 13.5 as applicable. For each Substitute Target that becomes a new Exclusive Target as a
substitute for an old Exclusive Target pursuant to Section 2.10.2, the JPT and JRC shall establish, in accordance with Section 2.3, a new Research Plan, including a new Budget, for such Substitute Target, and Genentech shall reimburse
Arvinas for its Research Program Costs to conduct its activities under the new Research Plan in accordance with Section 7.1 to the extent such Research Program Costs are in excess of any credit available pursuant to Section 2.6.1. 

2.9 Research Records. Each Party shall maintain records of each Research Program (or cause such records to be maintained) in sufficient detail and in
good scientific manner as will properly reflect all work done and results achieved by or on behalf of such Party in the performance of such Research Program. All laboratory notebooks shall be maintained for no less than the term of any Patent
issuing therefrom. All other records shall be maintained by each Party during the relevant Research Term and for [**] thereafter. All such records of a Party shall be considered such Party’s Confidential Information. 

2.10 Designation of Exclusive Targets. 

2.10.1 Initial Targets. The Parties agree and acknowledge that the Initial Targets identified on Exhibit 1.74 were designated, as
of the Original Effective Date, as “Exclusive Targets” under this Agreement. As noted earlier, as of the A&R Effective Date, Genentech’s right, under Section 2.8.1(b), to nominate a Proposed Target under Section 2.10.2
as a Substitute Target has been triggered for its Initial Target of [**] due to termination of the Research Program with respect to [**]. In addition, pursuant to Section 3.2.3,Genentech hereby, as of the A&R Effective Date, notifies
Arvinas that it is exercising its Option for its other Initial Target, [**], which Arvinas agrees qualifies as a timely provided Option Notice under Section 3.2.3 for such Initial Target. 

2.10.2 Expansion Targets and Substitute Targets. 

(a) Appointment of a Third Party Target Reviewer. Within [**] after the A&R Effective Date, the Parties shall enter into a mutually
acceptable three-way confidentiality agreement with a mutually agreed upon Third Party willing to perform, throughout the remainder of the Expansion/Substitution Period, the Expansion Target and Substitution
Target nomination/designation/rejection/notice process described below in this Section 2.10.2 (the “Third Party Target Reviewer”); however, at any time, the Parties may, by mutual agreement, change the person or entity serving
as the Third Party Target Reviewer. 

  

			
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(b) Nomination of Expansion Targets or Substitute Targets. At any time during the Expansion/Substitution Period, Genentech may, by
notifying the Third Party Target Reviewer in writing, nominate a Proposed Target as an additional Target (an “Expansion Notice”) or, as relevant, as a substitute Target for an Exclusive Target (a “Substitution
Notice”), to be included as an Exclusive Target under this Agreement (an “Expansion Target” or “Substitute Target,” respectively). Such notices shall include both the common name and [**] of the Proposed
Target. Genentech may include up to a maximum of [**] Expansion Targets under this Agreement pursuant to this Section 2.10.2, and Genentech may Substitute an Exclusive Target under this Agreement solely as set forth in Section 2.8 above.

 In conjunction with its Expansion Notice or Substitution Notice, whichever is applicable, to the Third Party Target Reviewer, Genentech will also notify
Arvinas in writing that it has submitted an Expansion Notice or Substitution Notice, but will not identify the Proposed Target to Arvinas. Within [**] after receipt of Genentech’s notice, Arvinas shall provide the Third Party Target Reviewer
with a complete and accurate written list of all Excluded Targets as of the date of Arvinas’ receipt of Genentech’s notice regarding its Expansion Notice or Substitution Notice, which list shall include the common name and [**] of each
Excluded Target and shall also identify for each Excluded Target whether such Target is considered an Excluded Target due to “clause (i) of the definition of Excluded Target”, “clauses (ii), (iii), or (iv) of the definition
of Excluded Target”, or “clause (v) of the definition of Excluded Target”, whichever is applicable. 
 If the information in an
Expansion Notice or Substitution Notice or in Arvinas’ list of then-Excluded Targets is insufficient for the Third Party Target Reviewer to determine under Section 2.10.2(c) whether the Proposed Target is or is not an Excluded Target, then
Genentech and/or Arvinas shall provide the Third Party Target Reviewer with such additional information as requested by the Third Party Target Reviewer as reasonably necessary to make such determination, which may include amino acid sequences. 

Notwithstanding the process set forth in this Section 2.10.2, the Parties agree and acknowledge that the [**] Expansion Targets identified on Exhibit
2.10.2(b) are designated, as of the A&R Effective Date, as “Expansion Targets” under this Agreement, and the Parties’ rights and obligations under this Agreement with respect to Exclusive Targets that are Expansion Targets
shall apply accordingly. Genentech shall make Expansion Target Payments pursuant to Section 6.2 with respect to such [**] Expansion Targets. 

(c) Target Availability. The Third Party Target Reviewer shall promptly, but no later than [**] after receiving Arvinas’ list under
Section 2.10.2(b), determine whether the Proposed Target is or is not an Excluded Target based on Arvinas’ list of then-Excluded Targets. 

(d) Notice of Excluded Target or not Excluded Target. If the Third Party Target Reviewer determines under Section 2.10.2(c) that
the Proposed Target is not an Excluded Target, then (i) the Third Party Target Reviewer will promptly notify both Parties in writing, informing them that such Proposed Target was not an Excluded Target and disclosing to them the identity of
such Target and its [**], (ii) subject to Section 2.10.2(e), such Proposed Target 

  

			
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shall be designated as an “Expansion Target” or “Substitute Target,” as applicable, and (iii), subject to receipt by Arvinas of a corresponding Expansion Target Reservation
Fee or Expansion Target Payment due as provided under Sections 2.10.2(f)(i) and (ii) below, an “Exclusive Target” under this Agreement, and the Parties’ rights and obligations with respect to Exclusive Targets under this
Agreement shall apply to such Expansion Targets and Substitute Targets that become Exclusive Targets accordingly. 
 If, however, the Third Party Target
Reviewer determines under Section 2.10.2(c) that the Proposed Target is an Excluded Target, then (i) the Third Party Target Reviewer shall promptly notify both Parties’ Alliance Managers in writing, informing them that the Proposed
Target was an Excluded Target (but without disclosing the identity or [**] of such Target to Arvinas) and identifying, per Arvinas’ list, whether such Target was considered an Excluded Target due to “clause (i) of the definition of
Excluded Target”, “clauses (ii), (iii) or (iv) of the definition of Excluded Target”, or “clause (v) of the definition of Excluded Target”, whichever is applicable, and (ii) such Proposed Target shall not be
designated as an Expansion or Substitution Target, whichever is applicable. 
 For clarity, the Parties agree that the Third Party Target Reviewer shall not
disclose to Genentech any Excluded Target that is not also a Proposed Target and shall not disclose, except as expressly permitted in this Section 2.10.2(d), any Proposed Target to Arvinas, an Arvinas Affiliate, or any other Third Party. 

(e) Mis-Determination Notice. In the event that the Third Party Target Reviewer notifies the
Parties under Section 2.10.2(d) that a given Proposed Target was not an Excluded Target but Arvinas believes that such determination was made in error, Arvinas shall notify Genentech and the Third Party Target Reviewer in writing (a “Mis-Determination Notice”) as soon as practicable and in any event within no more than [**] of Arvinas’ receipt of the Third Party Target Reviewer’s notice. Within [**] of sending the Mis-Determination Notice, Arvinas shall submit to the Third Party Target Reviewer documentary evidence that the relevant Proposed Target was an Excluded Target at the time of Arvinas’ receipt of the applicable
notice from Genentech under Section 2.10.2(b) (“Documentary Evidence”). The Third Party Target Reviewer shall promptly review the Documentary Evidence to determine whether its previous determination under Section 2.10.2(c)
was made in error and shall notify the Parties concurrently in writing whether the Proposed Target was in fact an Excluded Target or not. If the Third Party Target Reviewer determines that the Proposed Target was in fact an Excluded Target,
notwithstanding Section 2.10.2(d), the Proposed Target shall, with retroactive effect, no longer be deemed as an “Expansion Target” or “Substitute Target,” as applicable, under this Agreement, and for clarity, no
corresponding payment shall be due under Section 2.10.2(f). The relevant date for purposes of the Documentary Evidence shall be the date as of which Arvinas and Genentech have both submitted their respective lists to the Third Party Target
Reviewer for the relevant nomination. 
 (f) Established Expansion Targets or Substitute Targets. 

  

			
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(i) For each proposed Expansion Target that the Third Party Target Reviewer determines under Section 2.10.2(c) is not an Excluded Target,
unless such determination is reversed pursuant to Section 2.10.2(e), Genentech shall owe to Arvinas a payment (which shall be deemed applicable to such Expansion Target) of either (i) the Expansion Target Reservation Fee or (ii) the
Expansion Target Payment, which amount shall be paid to Arvinas within [**] of the later of Genentech’s receipt of the Third Party Target Reviewer’s notice under Section 2.10.2(d) regarding such Target or Genentech’s receipt of
the Third Party Target Reviewer’s notice under Section 2.10.2(e) regarding such Target, if applicable, and such Proposed Target shall be designated as an “Exclusive Target” as set forth above as of the date of such payment. For
clarity, in the event that neither such payment is made to Arvinas within the period specified above, the Proposed Target shall no longer be designated as an “Expansion Target” under this Agreement and all rights and obligations of the
Parties under this Agreement with respect to such Target shall be deemed terminated. 
 Notwithstanding the foregoing, the Parties shall not, and Arvinas
shall have no obligation to, commence activities under the Research Plan for an Expansion Target (or any permitted Substitute Target therefor) unless and until Genentech has paid to Arvinas an amount equal to the Expansion Target Payment for the
relevant Expansion Target (or the relevant permitted Substitute Target therefor), less any Expansion Target Reservation Fee paid for such Expansion Target. If Genentech fails to pay Arvinas the total amount of the Expansion Target Payment for an
Expansion Target (or the relevant permitted Substitute Target therefor) before expiration of the Expansion/Substitution Period, then after the expiration of the Expansion/Substitution Period, such Expansion Target (or the relevant permitted
Substitute Target therefor) shall no longer be designated as an “Expansion Target” or “Exclusive Target” under this Agreement, and all rights and obligations of the Parties under the Research Program and this Agreement with
respect to such Target shall be deemed terminated in accordance with Section 13.4 (but without any [**] delay), subject to Sections 2.6 and 13.5 below, as applicable. 

(ii) For clarity, for any proposed Substitute Target that the Third Party Target Reviewer determines under Section 2.10.2(c) or, if
applicable, Section 2.10.2(e), is not an Excluded Target and that substitutes a Target (whether such Target is an Expansion Target or Substitute Target) that was first accepted as an Expansion Target and for which the Expansion Target
Reservation Fee or the Expansion Target Payment has not been paid to Arvinas, Section 2.10.2(f)(i) shall apply to such Substitute Target as an Expansion Target for which such amounts would be owed to Arvinas, subject to termination if Genentech
fails to pay such amounts within the relevant periods specified in such Section 2.10.2(f)(i). 
 (iii) For clarity, the Expansion
Target Payment shall be payable only once for each Expansion Target (or any permitted Substitute Target therefor), and in no event shall the total amount to be paid by Genentech in the form of Expansion Target Payments for Expansion Targets exceed
[**] U.S. dollars (US$[**]). 
 (g) Alternative Targets. In the event any Proposed Target is determined by the Third Party Target
Reviewer to be an Excluded Target in accordance with Section 2.10.2(c) or, if applicable, Section 2.10.2(e), Genentech shall have the right to nominate another Proposed Target in lieu of such Proposed Target within the
Expansion/Substitution Period to be included as an Exclusive Target under this Agreement pursuant to Section 2.8 or this Section 2.10.2 above, as relevant, and such alternative Proposed Target shall be accepted or rejected in accordance
with Section 2.10.2(c) or, if applicable, Section 2.10.2(e). 

  

			
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(h) Audit Right regarding Certain Excluded Targets. If a Proposed Target is rejected as an Exclusive Target under this
Section 2.10.2 because [**], Genentech may, by notifying Arvinas’s Alliance Manager in writing within [**] of receipt of the Third Party Target Reviewer’s notice of such rejection pursuant to Section 2.10.2(d) or, if applicable,
Section 2.10.2(e), request to verify that such rejected Proposed Target was actually an Excluded Target by having a single representative from an independent, internationally recognized intellectual property law firm and/or a single
pharmaceutical industry consultant, in either case, selected by Genentech and acceptable to Arvinas (the “Target Auditor”) review Arvinas’s applicable written records. Genentech may exercise its rights under this
Section 2.10.2(h) on [**] rejected Proposed Targets per calendar year, even if the number of rejected Proposed Targets exceeds [**] during such calendar year. 

Arvinas shall, within [**] following its receipt of Genentech’s notice in the preceding paragraph, make complete and accurate copies of all of its
relevant written records available (e.g., contracts, term sheets, lab notebooks, test results, etc.), at a mutually agreeable time during its regular business hours, for inspection by the Target Auditor at such place or places where
such records are customarily kept, solely to determine whether or not such rejected Proposed Target was an Excluded Target [**] at the time of Arvinas’s receipt of the applicable notice from Genentech under Section 2.10.2(b). The Target
Auditor shall, during such visit, discuss its findings with Arvinas prior to finalizing any conclusion in order to afford Arvinas the opportunity to present its rationale for issuance of the rejection. The Parties shall use all reasonable efforts to
conduct and conclude any such inquiry in a prompt and efficient manner and with minimal disruption to Arvinas’ operations. 
 Prior to any audit
hereunder, the Target Auditor shall enter into a written confidentiality agreement with Arvinas that (i) limits the Target Auditor’s use of Arvinas’s records to the verification purpose described above; (ii) limits the
information that the Target Auditor may disclose to Genentech to solely whether or not such rejected Proposed Target was an Excluded Target [**] at the time of Arvinas’ receipt of the applicable notice from Genentech under
Section 2.10.2(b); and (iii) prohibits the disclosure of any information contained in such records to any Third Party for any purpose. The Parties agree that all information subject to review hereunder and/or provided by the Target Auditor
to Genentech is Arvinas’s Confidential Information, and neither Genentech nor the Target Auditor shall use any such information for any purpose that is not germane to this Section 2.10.2(h). Upon concluding its audit, the Target
Auditor shall promptly deliver its conclusion in writing to each Party and shall deliver a summary of the reasons for its findings to Arvinas. 
 If the
Target Auditor concludes that the rejected Proposed Target was an Excluded Target [**] at the time of Arvinas’s receipt of the applicable notice from Genentech under Section 2.10.2(b), then the audit is concluded and no further
consequences result. However, if the Target Auditor concludes that the rejected Proposed Target was not an Excluded Target [**] at the time of Arvinas’s receipt of the applicable notice from Genentech under Section 2.10.2(b) and thus
should have been designated an Exclusive Target, such Proposed Target shall, as of the Parties’ receipt of the Target Auditor’s conclusion, be automatically designated as an Exclusive Target retroactively to the date Arvinas received the
nominating notice. 

  

			
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 Any audit under
this Section 2.10.2(h) shall be at Genentech’s sole expense; provided, however, Arvinas shall promptly reimburse Genentech for the reasonable fees of an audit in which the Target Auditor properly concluded that the rejected Proposed Target
was not an Excluded Target [**] at the time of Arvinas’s receipt of the nominating notice and thus should have been designated an Exclusive Target. 

2.11 Termination of Research Program. Genentech may terminate the Research Program for a particular Exclusive Target, with or without cause, in
accordance with Section 13.4 as a termination of this Agreement pursuant to Section 13.4 with respect to such Exclusive Target at any time, subject to Sections 2.6 and 13.5 below, as applicable. 

ARTICLE 3 
 LICENSES AND
OPTIONS 
 3.1 Non-Exclusive Research Licenses. 

3.1.1 During each Research Term, Genentech hereby grants to Arvinas a nonexclusive license in the Territory under any relevant Know-How and Patents Controlled by Genentech solely to the extent required for conducting the relevant Research Program in accordance with the Research Plan. 

3.1.2 During each Research Term, Arvinas hereby grants to Genentech a nonexclusive license in the Territory under the Arvinas Intellectual
Property solely to the extent required for conducting the relevant Research Program in accordance with the Research Plan. 
 3.1.3 During
each Optimization Term, Genentech hereby grants to Arvinas a nonexclusive license in the Territory under any relevant Know-How and Patents Controlled by Genentech solely to the extent required for conducting
the relevant Optimization Program in accordance with the Optimization Plan. 
 3.1.4 During each Optimization Term, Arvinas hereby grants to
Genentech a nonexclusive license in the Territory under the Arvinas Intellectual Property solely to the extent required for conducting the relevant Optimization Program in accordance with the Optimization Plan. 

3.1.5 All rights under this Section 3.1 shall be personal and non-sublicensable except to the
extent necessary for the permitted subcontracted work under Section 2.4 or for a permitted assignment of this Agreement in accordance with Section 15.3. 

3.2 Option for Exclusive License. For each Exclusive Target, Arvinas hereby grants to Genentech an Option to obtain the right to exercise an
Exclusive License with respect to such Exclusive Target as follows: 
 3.2.1 During or Upon Completion of Stage II. 

(a) Upon achievement of the Completion Criteria for Stage II under a Research Plan for a particular Exclusive Target, Arvinas shall suspend its
activities under the relevant Research Plan and provide to the JPT Co-Leads the Deliverables with respect to Stage II 

  

			
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for such Exclusive Target, including a summary report that includes results that [**] in accordance with the Completion Criteria for the Stage II of the Research Plan, without disclosing the
chemical structures of such Lead PROTACs. Together with the Deliverables with respect to Stage II for such Exclusive Target to be provided in this Section 3.2.1 above, Arvinas shall provide the following materials (such materials described
under subsections (i) and (ii) of this Section below, “Evaluation Materials”) for evaluation in order for Genentech to decide whether or not to exercise the Option: (i) “blinded” samples of the Lead PROTACs (without
disclosing the chemical structures) to Genentech, and (ii) the chemical structures of the Lead PROTACs, and disclosures of all New Intellectual Property made by or behalf of Arvinas in the course of performance of the relevant Research Program
in accordance with Section 8.1, as directed by Genentech, to one or more independent third party reviewer(s) selected by Genentech and acceptable to Arvinas, such acceptance not to be unreasonably withheld, conditioned or delayed (the
“Third Party Reviewer(s)”). 
 Such “blinded” samples may be used by Genentech for evaluation purposes during the Option Period
but shall not be used for optimization or reverse engineering or any other purpose, unless the relevant Option is exercised pursuant to this Section below. The relevant Deliverables and Evaluation Materials (and any Confidential Information
contained or incorporated in such Deliverables or Evaluation Materials to the extent such information does not fall within any exceptions under Section 9.2) shall remain the property and Confidential Information of Arvinas, and shall be used by
Genentech for the sole purpose of evaluating whether or not to exercise the relevant Option, unless and until the Option to the relevant Exclusive Target has been exercised. Unless and until the Option to the relevant Exclusive Target has been
exercised, Genentech shall not sell, transfer or disclose any such Deliverables or Evaluation Materials (and including any Confidential Information contained or incorporated in such Deliverables or Evaluation Materials to the extent such information
does not fall within any exceptions under Section 9.2) to any other Person, except as expressly provided in this Section 3.2, without first receiving the prior written consent of Arvinas, which consent shall not be unreasonably withheld.

 (b) In addition to the foregoing, Genentech shall have the right, at any time during the relevant Research Term, after an Election Notice
has been made for the relevant Research Program pursuant to Section 2.7.1, or as otherwise provided pursuant to Section 2.5.4, to request an early receipt of Deliverables and Evaluation Materials by notifying Arvinas’s Alliance
Manager in writing, specifically referencing this Section 3.2.1(b) (an “Early Evaluation Notice”). Upon receipt by Arvinas of an Early Evaluation Notice, Arvinas shall provide to Genentech any Deliverables that have been
generated under such Research Program as of the date of receipt of such Early Evaluation Notice, and any Evaluation Materials that exist at such time, if such Deliverables and Evaluation Materials have not already been so provided to Genentech, in
accordance with the procedures set forth under Section 3.2.1(a); provided that unless Genentech requests in writing otherwise, Arvinas shall continue to conduct its activities under the relevant Research Plan and provide to Genentech any
additional Deliverables and Evaluation Materials that are generated under such Research Program in accordance with the procedures set forth under Section 3.2.1(a) (but not more frequently than [**]), during the relevant Option Period until the
Research Program Costs incurred by Arvinas exceed the relevant approved Budget for such Research Program (but without any tolling of the relevant Option Period as a result of the generation of such additional Deliverables and Evaluation Materials).

  

			
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 The relevant
Deliverables and Evaluation Materials (and any Confidential Information contained or incorporated in such Deliverables or Evaluation Materials to the extent such information does not fall within any exclusions under Section 9.2) shall remain
the property and Confidential Information of Arvinas, and shall be used by Genentech for the sole purpose of evaluating whether or not to exercise the relevant Option (which evaluation may include review by a Third Party Reviewer(s) as contemplated
in Section 3.2.1(a) above, and shall be subject to the constraints set forth in such section), unless and until the Option to the relevant Exclusive Target has been exercised. Unless and until the Option to the relevant Exclusive Target has
been exercised, Genentech shall not sell, transfer or disclose any such Deliverables or Evaluation Materials (and including any Confidential Information contained or incorporated in such Deliverables or Evaluation Materials to the extent such
information does not fall within any exclusions under Section 9.2) to any other Person, except as expressly provided in this Section 3.2, without first receiving the prior written consent of Arvinas, which consent shall not be unreasonably
withheld. 
 3.2.2 Confidentiality. Prior to any disclosure of the chemical structures of the Lead PROTACs or New Intellectual
Property to the Third Party Reviewer(s) under Section 3.2.1 above, the Third Party Reviewer(s) shall enter into a written confidentiality agreement with Genentech and Arvinas that (i) limits the information that the Third Party Reviewer(s)
may disclose to Genentech to maintain the confidentiality of the chemical structures of the Lead PROTACs and the New Intellectual Property provided to such Third Party Reviewer(s); and (ii) prohibits the use or disclosure of any confidential
information for any purpose other than assisting Genentech’s evaluation of whether or not to exercise the Option. The Parties agree that all information (to the extent such information does not fall within any exclusions under Section 9.2)
subject to review by the Third Party Reviewer(s) is Arvinas’ Confidential Information, and Genentech shall not use or cause the Third Party Reviewer(s) to use or disclose, any such information for any purpose other than for conduct of the Third
Party Reviewer’s evaluation contemplated pursuant to Section 3.2.1. 
 3.2.3 Option Grant. Arvinas hereby grants to
Genentech an option to obtain the right to exercise an Exclusive License under Arvinas Intellectual Property to make, have made, use, import, sell and offer for sale Licensed PROTACs and Licensed Products in the Field and in the Territory with
respect to each Exclusive Target, as further described below under Section 3.3 (“Option”). Genentech may exercise its Option, at its sole discretion, for a particular Exclusive Target by notifying Arvinas’s Alliance
Manager in writing (“Option Notice”) at any time during the Research Term for such Exclusive Target and continuing until [**] after the date of receipt of the Deliverables (by Genentech) and/or Evaluation Materials (by both
Genentech and the Third Party Reviewer(s)) in accordance with Section 3.2.1(a) or (b) above, subject to, in each case, any earlier termination of this Agreement with respect to such Exclusive Target in accordance with Section 13.4
(“Option Period”). In the event that Deliverables were provided pursuant to Section 3.2.1(a) and there is a good faith dispute between the Parties as to whether or not the Completion Criteria for Stage II of the Research Plan
have been achieved, Arvinas shall provide, at Genentech’s request, any additional information that is within the scope of the Research Plan and Budget and reasonably necessary to determine the achievement of the Completion Criteria for Stage II
of the Research Plan for such Exclusive Target (including performing any mutually agreed additional activities to generate such additional information to be reimbursed in accordance with Section 2.5.2) and the Option Period shall toll from the
time of such request until Genentech’s receipt of such additional information, or as otherwise mutually agreed upon by the Parties. For clarity, any additional information provided to Genentech pursuant to this Section shall be deemed included
in the Deliverables. 

  

			
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 In the event an
Option Notice is not provided to Arvinas within the Option Period (as may be extended as expressly set forth above) for a particular Exclusive Target, Genentech shall be deemed to have not exercised its Option with respect to such Exclusive Target
and the Research Program for such Exclusive Target shall terminate in accordance with Section 3.2.5 below; provided, however, that Genentech may, at its sole discretion, extend the Option Period for an additional [**] after expiration of such
Option Period by notifying Arvinas’s Alliance Manager in writing and paying Arvinas [**] U.S. dollars (US$[**]) on or before the expiration of such initial Option Period. 

3.2.4 Exercise of Option. Upon receipt of an Option Notice for a particular Exclusive Target in accordance with Section 3.2.3
above, (a) the Research Program for such Exclusive Target shall terminate, subject to Section 2.6; (b) Arvinas shall promptly provide to Genentech, at no additional cost or expense, the Lead PROTACs identified under the Research Program
for such Exclusive Target and related chemistry data arising from the conduct of the Research Plan, including chemical structures, physicochemical properties, structure-activity relationship (SAR) and chemical synthetic protocols for such Lead
PROTACs (the “Lead PROTAC Dossier”); and (c) Genentech may thereafter exercise the Exclusive License with respect to such Exclusive Target as set forth under Section 3.3 below for the remainder of the Term of this
Agreement as applicable to such Exclusive Target. 
 3.2.5 Termination. In the event an Option Notice is not provided to Arvinas
within the Option Period (as may be extended as set forth in Section 3.2.3 above) for a particular Exclusive Target, the Research Program for such Exclusive Target shall terminate upon expiration of such Option Period, and this Agreement shall
be deemed terminated with respect to such Exclusive Target in accordance with Section 13.4 (but without any [**] delay), subject to Sections 2.6 and 13.5 below, as applicable. Upon such termination, such Target shall no longer be designated as
an “Exclusive Target”, all rights and obligations of the Parties under this Agreement with respect to such Target shall terminate except as provided under Sections 2.6 and 13.5. Notwithstanding any termination of a Research Program for a
particular Exclusive Target as described above, Genentech shall have the right to Substitute such Exclusive Target, if applicable, pursuant to Section 2.8.1(c) above, at no additional cost or expense except as expressly set forth under
Section 2.8.2. 
 3.3 Exclusive Licenses. 

3.3.1 Exclusive License. Arvinas hereby grants to Licensee, for each Exclusive Target, an exclusive (even as to Arvinas and its
Affiliates), royalty-bearing, worldwide right and license, with the right to grant sublicenses, under the Arvinas Intellectual Property to make, have made, use, import, sell and offer for sale Licensed PROTACs and Licensed Products directed to such
Exclusive Target in the Field and in the Territory (an “Exclusive License”). On an Exclusive Target-by-Exclusive Target basis, Licensee shall not, and
shall have no right to, alone or through any Third Party, exercise or sublicense the relevant Exclusive License unless and until Genentech has exercised its Option with respect to such Exclusive Target in accordance with

  

			
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Section 3.2 above. It is acknowledged that any sublicense grant with respect to LICENSED PATENTS under the Yale Agreement (as defined therein) included in an Exclusive License shall be
subject to the reservation of rights set forth in Article 3.3 of the Yale Agreement. 
 3.3.2 Sublicenses. Following exercise of the
relevant Option, Licensee shall have the right to sublicense, through one or more tiers of sublicensees, the rights granted under Section 3.3.1 above to its Affiliates or Third Parties (each, following the grant of such a sublicense and
for so long as it remains in effect, a “Sublicensee”); provided that each such sublicense is consistent with the terms and conditions of this Agreement as applicable to such Sublicensee, and provided further that Genentech shall
remain responsible for all Licensee’s and any such Sublicensee’s compliance with all applicable obligations under this Agreement. 

3.3.3 Subcontracting. Licensee shall have the unrestricted right to enter into subcontracts with its Affiliates or Third Parties with
respect to the activities within the scope of the rights granted under Section 3.3.1 above; provided, such subcontract is consistent with the terms and conditions of this Agreement as applicable to such subcontractor, including without
limitation Sections 8.2.5(c) (either by assignment or other conveyance, e.g., license) and 9.3(e). 
 3.4 Exclusivity. 

3.4.1 Exclusive Targets. During the Term, except as permitted under Section 3.4.3 and except for activities being conducted under a
Research Program or an Optimization Program, Arvinas and its Affiliates shall not, either directly or indirectly (including on behalf of any of its Affiliates or a Third Party, or assisting any of its Affiliates or a Third Party, by granting or
assigning relevant rights or supplying materials), (a) conduct or agree to conduct any activities in the design, identification or discovery of [**], or (b) research, develop or commercialize (or agree to develop or commercialize) [**] in each
case, as long as the relevant Target remains an Exclusive Target (any activities under (a) or (b), an “Exclusive Activity”). 

3.4.2 Other Arvinas Technology. During the Term, Genentech shall have the right to negotiate for an exclusive or non-exclusive license under any [**] (“Other Arvinas Technology”) to research, develop, manufacture and commercialize (including make, use, sell, offer for sale and import) products in the Field
whose intended primary mechanism of action is, by design, degradation of an Exclusive Target. [**] Notwithstanding the foregoing, in the event of an Acquisition of Arvinas by a Third Party, Other Arvinas Technology shall not include any protein
degradation technology Controlled (as of the date of the relevant Acquisition) by such Third Party prior to the date of such Acquisition and any improvement thereto Controlled by such Third Party after the date of such Acquisition, in each case,
that was developed without use of any Patents or Know-How Controlled by Arvinas related to protein degradation prior to the date of such Acquisition. 

3.4.3 Acquisition. In the event of an Acquisition of Arvinas by a Third Party that is performing an Exclusive Activity
(“Acquiror Exclusive Activity”), and consummation of such Acquisition (a “Transaction”) would result in a violation of Section 3.4.1, then Arvinas shall promptly notify Genentech in writing describing the
existence of such Acquiror Exclusive Activity (without disclosing any confidential information with respect thereto and only to the extent not prohibited by applicable Laws) and, notwithstanding Section 3.4.1, such Transaction

  

			
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shall be permitted hereunder and such Acquiror Exclusive Activity may continue following the effective date of the Transaction, provided that (i) such Acquiror Exclusive Activity is
conducted by individuals who have (and have had) no involvement in any of the Research Programs and no knowledge of any details regarding, or any access to, any Genentech Compounds and who are kept separate and independent of the conduct of any
Research Programs and Optimization Programs and (ii) such Acquiror Exclusive Activity does not utilize any Arvinas Intellectual Property relating to PROTACs or protein degradation. Arvinas shall use Diligent Efforts to ensure that no personnel
involved in such Acquiror Exclusive Activity has access to (1) any Confidential Information arising in the course of performance of any Research Programs or Optimization Programs relevant to any Exclusive Target, (2) Arvinas Intellectual
Property relating to PROTACs, (3) other Confidential Information relating to the Genentech Compounds, or (4) Licensed PROTACs or Licensed Products directed to Exclusive Targets. 

For clarity, any technology, including any Know-How or Patents, resulting from any such Acquiror Exclusive Activity
conducted in accordance with this Section 3.4.3 shall not be included as Arvinas Intellectual Property under this Agreement, and nothing in this Agreement shall be construed to grant any rights or licenses to Genentech with respect to any such
technology, Know-How or Patents. 
 (a) Audit. In the event Arvinas elects to sequester an
Acquiror Exclusive Activity pursuant to this Section 3.4.3 above, for so long as such Acquiror Exclusive Activity continues, Genentech shall have the right, at its expense, to audit Arvinas’ actions with respect to such sequestration
through an independent counsel or other consultant having significant experience with respect to collaborative research relationships selected by Genentech and acceptable to Arvinas (the “Auditor”). Such audit right shall not be
exercised more than [**]. Subject to Section 3.4.3(b) below, Arvinas shall, upon reasonable advance notice and at a mutually agreeable time during its regular business hours, make its records available for inspection by such Auditor at such
place or places where such records are customarily kept, solely for purposes of verifying compliance with this Section 3.4.3. 
 (b)
Confidentiality. Prior to any audit under Section 3.4.3(a), the Auditor shall enter into a written confidentiality agreement with Arvinas that (i) limits the Auditor’s use of Arvinas’ records to the verification purpose
described in Section 3.4.3(a); (ii) limits the information that the Auditor may disclose to Genentech to solely a statement of whether or not Arvinas is in compliance with this Section 3.4.3; (iii) prohibits the disclosure of any
information contained in such records of Arvinas to any Third Party for any purpose; and (iv) prohibits the disclosure of any technical or scientific information contained in such records of Arvinas to Genentech of any other Person for any
purpose. The Parties agree that all information subject to review under Section 3.4.3(a) and/or provided by the Auditor to Genentech is Arvinas’ Confidential Information (to the extent such information does not fall within any exclusions
under Section 9.2), and that Genentech shall not use any such information provided to it for any purpose that is not germane to evaluating Arvinas’ compliance with this Section 3.4.3. 

3.4.4 Injunctive Relief. Without limiting Genentech’s other remedies hereunder, Arvinas acknowledges that its or its
Affiliate’s breach of its obligations under this Section 3.4 may cause irreparable injury to Genentech, and that Genentech shall be entitled to seek injunctive relief or other similar equitable relief without the obligation to post bond.
For clarity, nothing in this Section 3.4.4 shall entitle Genentech to seek an injunction to prevent the consummation of an Acquisition or Transaction as a remedy for Arvinas’ or its Affiliate’s breach of its obligations under this
Section 3.4. 

  

			
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 3.5 Grantback
Patents. 
 3.5.1 Non-Exclusive Grantback License. Licensee hereby grants to Arvinas a non-exclusive, royalty-free, fully paid-up, worldwide license, with the right to sublicense as provided below, under Grantback Patents, to make, use or otherwise practice the
Arvinas Intellectual Property for the manufacture, use, sale, offer for sale, or importation of [**] (a “Grantback Product”) in the Field in the Territory (such license, the “Grantback License”). As used herein,
“Grantback Patents” mean any issued Patent owned and controlled by a Licensee that: 
 (a) was filed during the period from
the date Genentech first exercised an Option pursuant to Section 3.2 until the [**] of the date Genentech last exercised an Option pursuant to Section 3.2 or the earlier termination of this Agreement in its entirety (“Grantback
Period”); and 
 (b) claims an invention that was made by or on behalf of such Licensee under the Arvinas Intellectual Property, or
using or derived from any Deliverables or Optimization Deliverables, in the course of performing activities under this Agreement; and 
 (c)
claims an invention that is an improvement to any invention claimed (regardless of whether such claim ultimately issues) in an Arvinas Patent within the Arvinas Intellectual Property existing prior to the filing of such Grantback Patent to the
extent that it relates to [**] in a Grantback Product such that the improvement is necessary or reasonably useful to make, use or otherwise practice such Arvinas Intellectual Property. 

Notwithstanding the foregoing, Grantback Patents shall exclude any Patents to the extent they claim, in whole or in part, (i) any compound (or derivative
thereof) that may be contained or incorporated in a Target Binding Moiety, or (ii) any formulation technology or delivery technology (but not any other manufacturing technology) that can be applied generally to any pharmaceutical product. 

3.5.2 Sublicenses. Arvinas shall have the right to grant sublicenses under Section 3.5.1 above (a) solely to Affiliates or
Third Parties who have a license from Arvinas or its Affiliates under Arvinas Intellectual Property (“Arvinas Licensee”); (b) solely in order to permit such Arvinas Licensee to make, use or otherwise practice the Arvinas
Intellectual Property for the manufacture, use, sale, offer for sale, or importation of the particular Grantback Product licensed from Arvinas under Arvinas Intellectual Property pursuant to a written agreement, or otherwise acquired by such Arvinas
Licensee, which agreement is consistent with the rights expressly granted to Genentech hereunder; and (c) if and only if Arvinas has obtained a license or other right under Patents claiming improvements to the Arvinas Intellectual Property made
by or on behalf of any such Arvinas Licensee that confers upon Arvinas and its licensees (including Licensee) rights thereto that are substantially similar or superior to the rights granted by Licensee to Arvinas under the Grantback License,
including a right to grant (sub)licenses to Arvinas’ licensees (including Licensee) on a non-exclusive basis. Arvinas shall contractually require its Affiliates who are Arvinas Licensees, and shall use
commercially reasonable efforts to contractually require all of its other Arvinas Licensees, to grant such a license or other right to Arvinas. 

  

			
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3.5.3 For clarity, nothing in this Section 3.5 shall require disclosure of any Know-How or other
information to Arvinas, its Affiliates or their respective (sub)licensees in connection with the Grantback License. 
 3.6 No Additional Licenses.
Except as expressly provided in this Agreement, nothing in this Agreement shall grant either Party any right, title or interest in and to the Know-How, Patents or other intellectual property rights of the
other Party (either expressly or by implication or estoppel). 
 ARTICLE 4 

MATERIALS TRANSFER 
 4.1 Transfer of
Genentech Compounds. For each Research Program and/or Optimization Program for a particular Exclusive Target, Genentech may transfer, subject to any additional terms and conditions required by relevant Third Parties (upon acceptance by Arvinas
in writing, not to be unreasonably withheld), Genentech Compounds to Arvinas for the conduct of the Research Program as specified under the Research Plan (or, as applicable, the Optimization Program as specified under the Optimization Plan) for such
Exclusive Target. The JPT shall determine the specific format, quantity and timeline for the transfer of any such Genentech Compounds for any Research Program or Optimization Program. 

4.2 Use of Genentech Compounds. Arvinas shall use Genentech Compounds solely for the purpose of conducting the applicable Research Program and/or
Optimization Program in accordance with the terms and conditions of this Agreement and in compliance with all applicable laws, rules and regulations. Except as required for purposes of exercising its rights and performing its obligations under this
Agreement, Arvinas shall not sell, transfer or disclose Genentech Compounds to any other Person, without first receiving the prior written consent of Genentech. Arvinas acknowledges that Genentech Compounds are experimental in nature and may have
unknown characteristics, and therefore, agrees to use prudence and reasonable care in the use, handling, storage, transportation and disposition and containment of Genentech Compounds. Unless otherwise mutually agreed in writing, within [**] of the
completion or earlier termination of the Research Program or the Optimization Program, whichever is applicable, for such Exclusive Target or earlier termination of this Agreement with respect to such Exclusive Target, Arvinas shall transfer to
Genentech, or at Genentech’s request, destroy, any Genentech Compounds in its possession or control, with written certification to Genentech thereof. 

4.3 Ownership of Genentech Compounds. Genentech shall retain all right, title and interest in and to Genentech Compounds (in part as to Genentech
Compounds that exist in combination with other material), and the transfer of Genentech Compounds to Arvinas shall be a bailment and shall not constitute a sale of Genentech Compounds or a grant, option or license of any Patent or other rights
Controlled by Genentech (other than a license to Arvinas to use the Genentech Compounds in the conduct of the Research Program or the Optimization Program, whichever is applicable, for a particular Exclusive Target). 

  

			
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 4.4 No Human
Use. No material transferred or made in the course of performance of a Research Program shall be (a) administered to humans; and (b) no such material or results will be used by the Parties as stand-alone material or information for
patient management, diagnostic, prognostic or other clinical purposes whatsoever. 
 4.5 DISCLAIMER. THE GENENTECH COMPOUNDS ARE BEING PROVIDED UNDER
THIS AGREEMENT ARE BEING PROVIDED “AS IS”, WITH NO WARRANTIES, EXPRESS OR IMPLIED, AND GENENTECH EXPRESSLY DISCLAIMS ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NONINFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS
OF ANY THIRD PARTY WITH RESPECT TO THE GENENTECH COMPOUNDS. 
 4.6 Genentech Materials. For each Research Program and/or Optimization Program for a
particular Exclusive Target, Genentech may transfer to Arvinas, subject to any additional terms and conditions required by relevant Third Parties (upon acceptance by Arvinas in writing, not to be unreasonably withheld), Genentech Materials (as
defined in Appendix B, which is attached to, and incorporated by reference into, this Agreement), in addition to Genentech Compounds, for the conduct of the Research Program as specified under the Research Plan (or, as applicable, the
Optimization Program as specified under the Optimization Plan) for such Exclusive Target, in accordance with the material transfer terms and conditions in Appendix B. The JPT shall determine the specific format, quantity and timeline for the
transfer of any such Genentech Materials for any Research Program or Optimization Program. 
 ARTICLE 5 

DEVELOPMENT AND COMMERCIALIZATION 
 5.1
Development and Commercialization of Licensed Products. Except with respect to the activities being conducted by the Parties under the Research Programs and Optimization Programs, as between Licensee and Arvinas, following the first exercise
of an Option for an Exclusive Target pursuant to Section 3.2 above, (i) Licensee shall have sole responsibility for, and bear all costs for, researching, developing and commercializing Licensed Products in the Field in the Territory; and
(ii) subject to the obligations expressly set forth herein, Licensee shall have the sole right and authority to control all decisions related to the research, development and commercialization of Licensed Products in the Field in the Territory.

 5.2 Alliance Managers. Promptly following the execution of this Agreement, Genentech and Arvinas shall designate an individual to act as the
primary business contact for such Party for matters related to this Agreement (each, an “Alliance Manager”), unless another contact is expressly specified in this Agreement. The Alliance Managers shall facilitate the flow of non-technical information and promote cooperation as necessary between the Parties and assist in the resolution of potential and pending issues and potential disputes in a timely manner to enable the Parties to
reach consensus and avert escalation of such issues or potential disputes. Either Party may replace its Alliance Manager at any time by notifying the other Party’s Alliance Manager in writing (including by email). 

  

			
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 5.3 Diligence.
Notwithstanding Section 5.1, following the first exercise of an Option for an Exclusive Target pursuant to Section 3.2 above, Licensee shall use Diligent Efforts, at its own expense, to develop and commercialize at least
one Licensed Product in the Field with respect to each Exclusive Target through First Commercial Sale for each of the following countries or region: the United States, the EU and Japan. 

5.4 Progress Reports. Following the first exercise of an Option for an Exclusive Target pursuant to Section 3.2 above, during the Term with respect
to a given Exclusive Target, and continuing until such time as payment of all potential milestone payments pursuant to Section 6.3 have been made with respect to such Exclusive Target, Genentech shall provide to Arvinas, on or before [**] of
each year, a summary written report of the status of its efforts to develop and commercialize Licensed Products with respect to such Exclusive Target. In addition, for each Exclusive Target, upon request of Arvinas, no more than [**], Genentech
shall make a representative familiar with Genentech’s efforts with respect to the development and/or or commercialization of Licensed Products with respect to such Exclusive Target available for a meeting by teleconference with Arvinas
representatives to discuss the progress reports provided above. Additionally, Genentech shall provide to Arvinas prompt notice of any material events in the development of the Licensed Products, including any Serious or Highly Serious Adverse
Experiences reported to the applicable Regulatory Authority. 
 5.5 Adverse Experience Reporting. Arvinas agrees throughout the Term of this Agreement
to notify Genentech of any information of which Arvinas becomes aware concerning any side effect, injury, toxicity or sensitivity reaction, or any unexpected incident, and the severity thereof, arising in connection with a product reasonably related
to any Licensed PROTAC licensed to Genentech hereunder (hereinafter “Adverse Experience”), where such Adverse Experience is “Serious” (as defined hereinafter) and associated with the clinical uses, studies, investigations,
tests and marketing of such product, whether or not determined to be attributable to such product. “Serious” as used in this Section refers to an Adverse Experience which results in death, is immediately life threatening, results in
persistent and significant disability/incapacity or requires in-patient hospitalization, or prolongation of existing hospitalization, or is a congenital anomaly, cancer or an overdose. Other important medical
events that may jeopardize the patient or may require intervention to prevent one of the outcomes previously listed should also be considered “Serious”. If such Adverse Experience is “Highly Serious” (that is, it results
in death or is immediately life threatening), Arvinas will notify Genentech within [**]. For Adverse Experiences that are Serious, but not Highly Serious, Arvinas will notify Genentech within [**]. 

5.6 Optimization Programs. 
 5.6.1
Licensee’s Election; Negotiation of Optimization Plan. After Genentech exercises its Option under Section 3.2 for an Exclusive Target, Licensee may, in its sole discretion, notify Arvinas of its desire to undertake an Optimization
Program under this Agreement on the Lead PROTAC(s) for such Exclusive Target. If, following such notice, Arvinas is interested in conducting an Optimization Program for such Exclusive Target, as determined in Arvinas’ sole discretion, and
notifies Licensee of its interest, the Parties, through the JPT, shall promptly attempt to negotiate and draft in good faith a proposed optimization research plan for such Exclusive Target, including a scope of activities (including any relevant

  

			
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resources requirements for Arvinas) (“Optimization Work Plan”), timeline (“Optimization Schedule”), criteria for completion (“Optimization Completion
Criteria”), and deliverables to be provided (“Optimization Deliverables”) (collectively, an “Optimization Plan”) for the JRC’s approval. Notwithstanding any other provision of this Agreement to the
contrary, both Parties’ JRC members must approve in writing any initial Optimization Plan for an Exclusive Target. Genentech, as final JRC decision maker, cannot approve an initial Optimization Plan for any Exclusive Target. Consequently, if
both Parties, via the JRC, do not agree on the initial Optimization Plan for an Exclusive Target, then such Optimization Plan is not approved, and, unless and until both Parties’ JRC members approve an initial Optimization Plan, there is no
Optimization Program for such Exclusive Target. However, with regard to amendments to any mutually approved initial Optimization Plan, [**] has the final JRC decision making authority, subject to the limits on its authority set forth in
Section 2.2.1(e). 
 As referenced throughout this Agreement, the term “Optimization Plan” shall include any initial Optimization Plan
prepared and approved in accordance with this Section 5.6.1 and any revisions to such Optimization Plan approved by the JPT or JRC as expressly contemplated under this Agreement or as otherwise agreed upon by the Parties in writing. Each Party
will use Diligent Efforts to perform its obligations under any Optimization Plan approved in accordance with this Agreement, and each Party shall comply with all laws, rules and regulations applicable to the conduct and documentation of its
Optimization Program activities. Each Party shall, in performing its obligations under any Optimization Program, assign responsibilities to those portions of its organization that have the appropriate resources, expertise and responsibility for such
obligations. 
 It is understood that an Optimization Plan shall not include IND enabling activities, such as preparation for regulatory filings and the
like, except as the Parties may agree on a case-by-case basis and in writing to collaborate on such IND enabling activities and include such activities in reasonable
detail in an Optimization Plan. Notwithstanding the foregoing, Arvinas shall provide any authorizations, consents, references, or other documentation, including permission to cross-reference any relevant INDs previously filed by Arvinas, as
necessary to support IND enabling activities in the Field in the Territory for a particular Licensed Product for which Genentech has exercised its Option under 3.2. 

As of the A&R Effective Date, the Parties hereby agree to undertake an Optimization Program under this Section 5.6 with regard to the Lead PROTACs
for the Initial Target of [**], for which Genentech timely exercised its Option, as set forth in Section 2.10.1, on the A&R Effective Date and agree that the initial Optimization Plan for the [**] Optimization Program will, subject to the
requirement of approval of such plan by consensus of the Parties as provided above, be approved by the JRC at its first meeting following the A&R Effective Date. 

5.6.2 Subcontractors. Arvinas may not subcontract portions of its work under an Optimization Plan to Affiliates or Third Parties without
Licensee’s prior written consent, such consent not to be unreasonably withheld or delayed; provided that any such consent shall require that such subcontract is consistent with the relevant terms and conditions of this Agreement, including that
(a) no intellectual property of such Third Party subcontractor shall be utilized or incorporated into such subcontracted portion and (b) any intellectual property resulting from such subcontracted portion shall be assigned to Arvinas such
that such intellectual property shall 

  

			
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be deemed “Controlled” by Arvinas and included within the Joint New Intellectual Property or Arvinas New Intellectual Property, as appropriate, hereunder. As of the A&R Effective
Date, Licensee has consented to Arvinas subcontracting with [**] to conduct services with respect to the Optimization Programs by and on behalf of Arvinas. Licensee shall have the unrestricted right to enter into subcontracts with its Affiliates or
Third Parties with respect to its performance of the Optimization Programs; provided, such subcontract is consistent with the terms and conditions of this Agreement as applicable to such subcontractor, including without limitation Sections 8.2.5(c)
(either by assignment or other conveyance, e.g., license) and 9.3(e). In any case, the subcontracting Party shall remain responsible (at its cost) for and shall ensure that each subcontractor complies with the terms and conditions of this
Agreement. 
 5.6.3 Conduct; Costs. 

(a) Optimization Plan Approval. If an Optimization Plan is approved by JRC in accordance with Section 5.6.1, then, during the
Optimization Term for such Exclusive Target, the JPT shall, as necessary or desired from time-to-time, propose and approve revisions to such initially approved
Optimization Plan; except that any proposed revisions to the Optimization Completion Criteria of an approved Optimization Plan require the JRC’s approval prior to implementation. In the event of any conflict or inconsistency between the main
body of this Agreement and any Optimization Plan, the terms and conditions of the main body of this Agreement shall prevail. 
 (b)
Arvinas. Arvinas shall use Diligent Efforts to conduct its activities under the relevant Optimization Plan during the relevant Optimization Term. Arvinas shall devote such numbers of scientists, with the requisite qualifications, as the
Optimization Program may require to meet such Diligent Efforts requirement 
 (c) Licensee. Licensee shall perform its obligations
under an Optimization Program using such number of Licensee FTEs as it deems appropriate to conduct activities delegated to it under such Optimization Program. 

(d) Costs. Except as otherwise agreed to by the Parties in writing, each Party shall be responsible for any costs it incurs in
performing activities under an Optimization Program, including the costs of providing information or materials to the other Party. 
 (e) At-will Termination by Licensee. At any time and for any reason, Licensee may, by notifying Arvinas’s Alliance Manager in writing at least [**] in advance, terminate an Optimization Program, and such
termination shall be subject to Section 5.6.4(b). 
 5.6.4 Optimization Term; Termination Consequences. 

(a) Optimization Term. An Optimization Program shall commence upon the initiation of activities under its Optimization Plan and shall
continue, unless earlier terminated under Section 5.6.3(e) or earlier terminated due to the termination of Licensee’s Exclusive License to the applicable Exclusive Target as provided elsewhere in the Agreement, until the accomplishment of
the applicable Optimization Completion Criteria and delivery of the applicable Optimization Deliverables (each, an “Optimization Term”). 

  

			
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(b) Arvinas’ Obligations upon Conclusion or Earlier Termination of an Optimization Program. Upon the conclusion, or earlier
termination under Section 5.6.3(e), of an Optimization Program, Arvinas shall (i) promptly deliver to Licensee all Optimization Deliverables of such Optimization Program, and (ii) promptly disclose, per Section 8.1, all New
Intellectual Property made by or on behalf of Arvinas in the course of performing activities under such Optimization Program. In addition, upon the conclusion or any earlier termination of an Optimization Program, Arvinas shall (1) promptly
return or destroy (and provide written certification thereof), at Licensee’s option, any Genentech Compounds and Genentech Materials provided for such Optimization Program and (2) not use any Confidential Information of Licensee (including
any such information regarding the Genentech Compounds and Genentech Materials as provided by Licensee or as contained or incorporated in the Optimization Deliverables) in any subsequent efforts conducted by Arvinas, its Affiliates or their
respective Third Party licensees, unless and until such Confidential Information is no longer considered “confidential” under the exclusions to the confidentiality obligations under Article 9 of this Agreement. 

5.6.5 Optimization Records. Each Party shall maintain records of each Optimization Program (or cause such records to be maintained) in
sufficient detail and in good scientific manner as will properly reflect all work done and results achieved by or on behalf of such Party in the performance of such Optimization Program. All laboratory notebooks shall be maintained for no less than
the term of any Patent issuing therefrom. All other records shall be maintained by each Party during the relevant Optimization Term and for [**] thereafter. All such records of a Party shall be considered such Party’s Confidential Information.

 ARTICLE 6 

FINANCIAL TERMS 
 6.1 Upfront
Payments. 
 (a) Original Upfront. In consideration of the rights granted by Arvinas to Licensee with respect to the Initial
Targets, Genentech paid Arvinas on or around the Original Effective Date a one-time payment in the amount of Eleven Million U.S. dollars (US$11,000,000). 

(b) Collaboration Upfront. In consideration for modifications to the Original Agreement, including an expanded collaboration between the
Parties, contained in this Agreement, Genentech shall pay to Arvinas a one-time payment in the amount of [**] within [**] of the A&R Effective Date. 

6.2 Expansion Target Payment. For each of the [**] Proposed Targets listed on Exhibit 2.10.2(b) that are established as an Expansion Target pursuant to
Section 2.10.2(b) above, in consideration of the rights granted by Arvinas to Licensee under this Agreement with respect to such Expansion Target, Genentech shall pay to Arvinas a one-time payment per
Expansion Target in the amount as follows: [**] U.S. dollars (US$[**]) (each, an “Expansion Target Payment”), which amount shall be paid to Arvinas within [**] of the A&R Effective Date. For each additional Proposed Target
established thereafter as an Expansion Target pursuant to Section 2.10.2 above, in consideration of the rights granted by Arvinas to Licensee under this Agreement with respect to such Expansion Target, Genentech shall pay to Arvinas an
Expansion Target Payment in accordance with the provisions of Section 2.10.2 above. 

  

			
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 6.3 Milestone
Payments. 
 6.3.1 Development/Regulatory Milestone Payments.  

(a) Development Milestone Payments. For each Exclusive Target for which Genentech has exercised an Option pursuant to Section 3.2
above, Licensee shall pay Arvinas the following one-time milestone event payments for the first achievement of the corresponding milestone events for any Licensed Product that is a Valid Claim Licensed
Product at the time of such achievement, with respect to such Exclusive Target, subject to the terms of this Section 6.3 and the payment provisions in Article 7 below: 
  

			
	 Development Milestone Event for each Exclusive Target
	  	Milestone Event
Payment (US$)
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
		  	  

	 Total Potential Development Milestone Event Payments:
	  	$44,000,000
		  	  

 In the case of development milestone events (i) – (iv) above, if a subsequent development milestone event is achieved
before a prior development milestone event (“prior” and “subsequent” referring to a lower number in the table above, e.g., development milestone event (ii) being “prior” to development milestone event (iii)), then
all such prior development milestone events shall be deemed achieved upon achievement of the subsequent development milestone event. 
 Solely for the
purposes of the determining achievement of Development Milestones (i), (ii) and (iii) under this Section 6.3.1(a), “Covered” and “Valid Claim” under the definition of Valid Claim Licensed Product will be defined to
include references to pending claims being prosecuted in good faith at the time of such achievement that have not been pending under any patent applications (including continuations or divisionals) for more than a total of [**] from the filing date
of the first patent application that included such pending claim. 
 (b) Regulatory Milestone Payments. For each Exclusive Target for
which Genentech has exercised an Option pursuant to Section 3.2 above, Licensee shall pay Arvinas the following one-time milestone event payments for the first achievement of the corresponding
milestone events for any Licensed Product that is a Valid Claim Licensed Product at the time of such achievement, with respect to such Exclusive Target, subject to the terms of this Section 6.3 and the payment provisions in Article 7 below:

  

			
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	 Regulatory Milestone Event for each Exclusive
Target
	  	Milestone Event Payment (US$)
	  	1st Indication	 	2nd Indication
	 [**]
	  	[**]	 	[**]
	 [**]
	  	[**]	 	[**]
	 [**]
	  	[**]	 	[**]
		  	  
	 	  

	 Total Potential Regulatory Milestone Event Payments:
	  	$35,000,000	 	$17,500,000
		  	  
	 	  

 In this Section 6.3.1(b), “Indication” means the intended use of a Licensed Product for either
therapeutic treatment of or for the prevention of a distinct illness, sickness, interruption, cessation or disorder of a particular bodily function, system, tissue type or organ, or sign or symptom of any such items or conditions, regardless of the
severity, frequency or route of any treatment, treatment regimen, dosage strength or patient class, for which Regulatory Approval is being sought and which will be referenced on any Licensed Product labeling in any country. For clarity, any label
extensions or therapy expansions (including, without limitation, first or later treatment lines, metastatic, adjuvant, combination, etc.) shall not be deemed to be separate Indications. 

(c) Deliverables Know-How Licensed Products. In lieu of the amounts set forth in Sections
6.3.1(a) and (b), Licensee shall pay Arvinas [**] percent ([**]%) of the milestone event payment amounts specified under Sections 6.3.1(a) and (b) if the corresponding milestone event (but for clarity without the requirement that it be achieved
by a Valid Claim Licensed Product) is first achieved by a Licensed Product that is a Deliverables Know-How Licensed Product and not a Valid Claim Licensed Product due to [**] with respect to the milestone
events in Section 6.3.1(b)(i) and (iii) and [**] with respect to the milestone event in Section 6.3.1(b)(ii)) at the time of such achievement, with respect to such Exclusive Target, subject to the terms of this Section 6.3 and
the payment provisions in Article 7 below. For clarity, [**] at the time such event is achieved, the regulatory milestone event payment set forth in Section 6.3.1(b)(ii) shall be payable at the Valid Claim Licensed Product amount pursuant to
Section 6.3.1(b)(ii), and not pursuant to this Section 6.3.1(c). 
 (d) One-Time
Payment. Notwithstanding any provision to the contrary, each milestone event payment by Licensee to Arvinas under this Section 6.3 above, in each column as relevant, shall be payable only once for the first achievement of the corresponding
milestone event for each Exclusive Target by Licensee, its Affiliates or Sublicensees. In no event shall Licensee owe a milestone event payment to Arvinas under both Sections 6.3.1(a) or 6.3.1(b) and 6.3.1(c) for the achievement of the
corresponding milestone event for the same Licensed Product, even if such Licensed Product is a Deliverables Know-How Licensed Product at the time of such achievement and becomes a Valid Claim Licensed Product
thereafter, or vice versa. For clarity: 

  

			
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(i) For each Exclusive Target, each development milestone event payment by Licensee to Arvinas under Section 6.3.1(a) shall be payable no
more than once regardless of the number of Licensed Products that are directed to such Exclusive Target, and in no event shall the total amount to be paid by Licensee under Section 6.3.1(a) for the achievement of development milestone events
for such Exclusive Target exceed Forty-Four Million U.S. dollars (US$44,000,000). 
 (ii) For each Exclusive Target, each regulatory
milestone event payment by Licensee to Arvinas in each column under Section 6.3.1(b) shall be payable no more than once with respect to the each first and second indication, as relevant, regardless of the number of Licensed Products that are
directed to such Exclusive Target, and in no event shall the total amount to be paid by Licensee under Section 6.3.1(b) for the achievement of regulatory milestone events for such Exclusive Target exceed Thirty-Five Million U.S. dollars
(US$35,000,000) for the first indication and Seventeen Million Five Hundred Thousand U.S. dollars (US$17,500,000) for the second indication and Fifty-Two Million Five Hundred Thousand U.S. dollars
(US$52,500,000) in total. 
 6.3.2 Commercial Milestone Payments. For each Licensed Product, Licensee shall pay Arvinas the following one-time milestone event payments when the aggregate Net Sales of such Licensed Product in one or more particular country(ies) for a given calendar year (“Annual Net Sales”), where such Licensed
Product is a Valid Claim Licensed Product at the time of sale in each of such country(ies), first achieves the corresponding threshold as set forth in this Section 6.3.2 below, subject to the terms of this Section 6.3 and the payment
provisions in Article 7 below: 
  

			
	 Commercial Milestone Event
	  	Milestone Event
Payment (US$)
	 (i) Annual Net Sales of a Valid Claim Licensed Product equals or exceeds US$[**]
	  	[**]
	 (ii) Annual Net Sales of a Valid Claim Licensed Product equals or exceeds US$[**]
	  	[**]
	 (iii) Annual Net Sales of a Valid Claim Licensed Product equals or exceeds US$[**]
	  	[**]
		  	  

	 Total Potential Commercial Milestone Event Payments:
	  	$60,000,000
		  	  

  

			
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(a) Deliverables Know-How Licensed Products. In lieu of the amounts set forth in
Section 6.3.2 above, Licensee shall pay Arvinas [**] percent ([**]%) of the relevant one-time milestone event payment under Section 6.3.2 above if the corresponding milestone event (but for clarity without the requirement that it be
achieved by only Annual Net Sales of Valid Claim Licensed Products) is first achieved when Annual Net Sales of a Licensed Product in one or more particular country(ies), where such Licensed Product is a Deliverables
Know-How Licensed Product at the time of sale in each of such country(ies), subject to the terms of this Section 6.3 and the payment provisions in Article 7 below. If a milestone event under
Section 6.3.2 above was first achieved by a Deliverables Know-How Licensed Product and the corresponding milestone event payment was made in accordance with this Section 6.3.2(a), then subsequently,
Annual Net Sales of the same Licensed Product in one or more particular country(ies), where such Licensed Product is a Valid Claim Licensed Product at the time of sale in each such country(ies), achieves the corresponding threshold as set forth in
this Section 6.3.2 above, then Licensee shall pay Arvinas an additional [**] percent ([**]%) of the relevant one-time milestone event payment under Section 6.3.2 above. 

(b) One-Time Payment. Except as expressly provided under Section 6.3.2(a), each commercial milestone event payment by Licensee to
Arvinas under this Section 6.3.2 shall be payable no more than once for a given Licensed Product. In no event shall the total amount to be paid by Licensee under this Section 6.3.2 for the achievement of commercial milestone events exceed
Sixty Million U.S. dollars (US$60,000,000) for any given Licensed Product. For clarity, to the extent more than one commercial milestone event is achieved in a given calendar year for any given Licensed Product, then each applicable milestone event
payment for each such achievement shall be due and owing in such calendar year. 
 6.3.3 Notice of Achievement. With respect to each
development and regulatory milestone event under Section 6.3.1 above, Licensee (or its Sublicensee, if applicable) shall notify Arvinas in writing within [**] of the achievement of such event. With respect to each commercial milestone event
under Section 6.3.2 above, Licensee (or its Sublicensee, if applicable) shall notify Arvinas in writing within [**] of the end of the calendar quarter in which such event was achieved. 

6.4 Royalty Payments. Licensee shall pay Arvinas, on a Licensed
Product-by-Licensed Product and country-by-country basis, the following royalties on
Annual Net Sales of Licensed Products in a particular country(ies), where such Licensed Product is a Valid Claim Licensed Product or a Deliverables Know-How Licensed Product, as applicable, at the time of sale
in such country(ies), by Licensee (or its Sublicensee hereunder), subject to the terms of this Section 6.4 and Section 6.5 and the payment provisions in Article 7 below: 

 

					
	 Annual Net Sales (in US Dollars)
	  	Royalty Rate (%)
	  	Valid Claim
Licensed Product	 	Deliverables Know-How
Licensed Product
	 Portion of Annual Net Sales up to [**]:
	  	[**]	 	[**]
	 Portion of Annual Net Sales equal to or greater than [**]:
	  	[**]	 	[**]

 6.4.1 Royalty Term. 

  

			
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(a) Valid Claim Licensed Product. The royalty obligations set forth in this Section 6.4 above will commence, on a product-by-product and country-by-country basis, upon the First Commercial Sale of the relevant
Valid Claim Licensed Product, and expire, on a product-by-product and country-by-country
basis, upon the expiration of the last to expire Valid Claim within the Payment-Based Valid Claims that Covers the sale of such Valid Claim Licensed Product in such country (“Valid Claim Licensed Product Royalty Term”). For clarity,
if the last relevant Valid Claim Covering the sale of a Valid Claim Licensed Product in a particular country expires prior to the expiration of the corresponding Deliverables Know-How Licensed Product Royalty
Term, royalties shall continue to be payable on the sales of such Licensed Product in such country pursuant to Section 6.4.1(b) to the extent such Licensed Product is a Deliverables Know-How Licensed
Product for the remaining duration of the Deliverables Know-How Licensed Product Royalty Term. 
 (b)
Deliverables Know-How Licensed Product. The royalty obligations set forth in this Section 6.4 above will commence, on a
product-by-product and country-by-country basis, upon the First Commercial Sale of a
Deliverables Know-How Licensed Product, and expire, on a product-by-product and country-by-country basis, upon the tenth (10th) anniversary of the date of First Commercial Sale of such Licensed Product in such country (“Deliverables
Know-How Licensed Product Royalty Term”). For clarity, in the event a Valid Claim within the Payment-Based Valid Claims Covers the sale of a Deliverables
Know-How Licensed Product and such Valid Claim first comes into existence in a particular country after the date of First Commercial Sale of such Licensed Product in such country, on the date of issuance of
such Valid Claim, royalties shall continue to be payable on the sales of such Licensed Product pursuant to Section 6.4.1(a), at the rates set forth therein for the remaining duration of the Valid Claim Licensed Product Royalty Term. For
purposes of calculating the ten (10) year period above, for countries within the EU as of the relevant time, the ten (10) year period shall commence upon First Commercial Sale within any country in the EU as constituted at the time of such First
Commercial Sale. 
 6.4.2 Single Royalty. Notwithstanding any provision to the contrary, no more than one royalty payment shall
be due under this Section 6.4 with respect to a sale of a particular Licensed Product in a particular country, and in no event shall Licensee owe royalties to Arvinas under both Sections 6.4.1(a) and 6.4.1(b) for the same sale of such Licensed
Product in a particular country. For clarity, multiple royalties shall not be payable because the sale of a particular Valid Claim Licensed Product is Covered by more than one (1) Valid Claim within the Payment-Based Valid Claims in the country
in which such Licensed Product is sold. 
 6.4.3 Apportionment of Compulsory Sublicensee Consideration. For clarity, any sales by
Compulsory Sublicensees under a Compulsory Sublicense shall not themselves be considered as Net Sales. Any payments, however, paid to Licensee from a Compulsory Sublicensee of a Licensed Product for the sale of such Licensed Product shall be added
to Net Sales for the relevant Licensed Product in the relevant country and period, and royalty payments shall be due thereon in accordance with this Section 6.4 and subject to Section 6.5 at the royalty rate that would otherwise be payable
for the Licensed Product in the applicable country based on such provisions. 

  

			
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 6.5 Payment
Offsets. 
 6.5.1 Third Party Payments. 

(a) Arvinas. Arvinas shall be responsible for any payments owed as a result of the activities conducted hereunder, including the
exercise of the rights and licenses granted hereunder (whether by Arvinas or Licensee or their respective (Sub)licensees) pursuant to the Existing Third Party Agreements. 

(b) Third Party Patents. If, after the Original Effective Date, any Licensee (or any of its Affiliate or Sublicensees) obtains a right
or license under any Patent of a Third Party, where a license under such Patent is necessary or reasonably useful to make, use or otherwise practice such Arvinas Intellectual Property for the manufacture, use, sale, offer for sale, or importation of
[**], then Licensee may offset, against the royalties due and payable by Licensee to Arvinas with respect to sales of any Licensed Product containing such [**] in a relevant country, [**] percent ([**]%) of the royalties actually paid by Licensee
(or such Affiliate or Sublicensee) to such Third Party with respect to the sale of such Licensed Product in such country; provided that in no event shall such reductions reduce a payment owed to Arvinas for such Licensed Product by more than [**]
percent ([**]%) of the payment that would otherwise be owed by Licensee to Arvinas hereunder; provided further that Licensee may carry forward any amount that it was unable to offset due to the [**] percent ([**]%) limitation on reductions in this
Section 6.5.1(b) to a future period with respect to the same Licensed Product and country. Notwithstanding the foregoing, the Parties agree that, for clarity, the provisions of this Section 6.5.1 shall not permit the offset of any amounts
paid for any right or license under any Patent of a Third Party to the extent relating to access to any formulation technology or delivery technology (but not any other manufacturing technology) that can be applied generally to any pharmaceutical
product. 
 6.5.2 Generic Competition. Upon the first commercial sale of a Generic Version of a Licensed Product in the Field in a
particular country in the Territory, the following shall apply: if the aggregate unit sales of all Generic Version(s) in such country over a period of [**] (“Market Share Period”) exceed [**] percent ([**]%) of the sum total unit
sales of such Licensed Product and all Generic Version(s) (i.e., based on unit volume market share) in such country during such Market Share Period, then beginning in the [**] after such Market Share Period, the royalty rate under Section 6.4
with respect to Annual Net Sales of such Licensed Product in such country shall be reduced to [**]% for the remainder of the applicable royalty term as set forth under Section 6.4.1. Such unit sales volume will be based upon IMS or other
available data. If such volume data is not available for a given country, then the Parties will use another mutually agreed upon method to determine the unit volume market share in such country. As necessary, appropriate payment adjustments or true-ups shall be made in the case, for example, where there is a delay in the availability of the applicable IMS or other volume data.  

6.5.3 Licensed Product Competition. Upon the first commercial sale of a Competitive Version of a Licensed Product in the Field that is a
Deliverables Know-How Licensed Product in a particular country in the Territory, the following shall apply: if the aggregate unit sales of all Competitive Version(s) in such country over a period of [**]
exceed 

  

			
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[**] percent ([**]%) of the sum total unit sales of such Licensed Product and all Competitive Version(s) (i.e., based on unit volume market share) in such country during such [**], then beginning
in the [**] after such period, the royalty rate under Section 6.4 with respect to Annual Net Sales of such Licensed Product in such country shall be reduced to [**] percent ([**]%) for the remainder of the applicable royalty term as set
forth under Section 6.4.1. Such unit sales volume will be based upon IMS or other available data. If such volume data is not available for a given country, then the Parties will use another mutually agreed upon method to determine the unit
volume market share in such country. As necessary, appropriate payment adjustments or true-ups shall be made in the case, for example, where there is a delay in the availability of the applicable IMS or other
volume data. 
 6.6 Rights Following Expiration of Payment Obligations. Upon expiry of its payment obligations hereunder with respect to a Licensed
Product in the Field in a particular country in the Territory, the licenses and rights under this Agreement shall become non-exclusive, fully paid-up, royalty-free and
irrevocable with respect to such Licensed Product in the Field in such country in the Territory. 
 ARTICLE 7 

PAYMENT TERMS; REPORTS; AUDITS 
 7.1
Research Program Costs Reimbursement. Arvinas shall send invoices to Genentech for any Research Program Costs to be reimbursed in accordance with Section 2.5.4(a)(ii) or Section 2.8.2 above at the end of each calendar month in
accordance with this Section 7.1 below; provided that no such invoice shall be sent for Research Program Costs reimbursable pursuant to Section 2.8.2 until after Genentech has been notified of any relevant credits that are applicable to
the relevant Research Program pursuant to Section 2.6.1. For clarity, all invoices pursuant to this Section 7.1 shall be itemized by Research Program. 

For each Research Program for which reimbursement of Research Program Costs is to be made pursuant to this Section 7.1, Arvinas shall send to Genentech
invoices for the Research Program Costs to be reimbursed for the immediately preceding calendar month, calculated on a prorata basis based on the total Budget for the relevant activities (less any applicable credits pursuant to Section 2.6.1),
divided by the expected duration of the relevant Research Program activities (in months) as set forth in the relevant Research Plan (the “Research Program Period”). Upon completion or any early termination of the relevant Research
Program, Arvinas shall prepare a summary Research Program Costs Report covering the entire Research Program Period or the period until such earlier termination, which shall include the total amounts of Research Program Costs incurred by Arvinas that
are reimbursable in accordance with Section 2.5.4(a)(ii) or Section 2.8.2 above (“Actual Reimbursable Research Program Costs”) and the total amounts paid and credited from Genentech to Arvinas for such Research Program
Costs in accordance with this Section 7.1 (“Estimated Reimbursable Research Program Costs”). If the Actual Reimbursable Research Program Costs exceed the Estimated Reimbursable Research Program Costs for a particular Research
Program, as reflected in the relevant summary Research Program Costs Report, then Arvinas shall invoice Genentech for an amount equal to the balance due. If the Actual Reimbursable Research Program Costs is less than the Estimated Reimbursable
Research Program Costs for a particular Research Program, as reflected in the relevant summary Research Program Costs Report, then Genentech shall have the right, at its election, to apply the amount of such excess payments as a credit towards any
other payments subsequently owed to Arvinas hereunder, as elected and notified to Arvinas in writing. All uncontested invoices shall be due within [**] of Genentech’s receipt of an invoice for such payment. 

  

			
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 7.2 Milestone
Payments. Arvinas shall send invoices to Genentech for milestone event payments under Section 6.3 after Arvinas’ receipt of a notice under Section 6.3.3 regarding the achievement of the corresponding milestone event under
Section 6.3. All uncontested milestone event payments shall be due within [**] of Genentech’s receipt of an invoice for such payment. 
 7.3
Royalty Payments. Royalty payments shall be due, on a calendar quarterly basis, [**] (or as may be extended by an additional [**] as requested by Licensee in order to coordinate such payments from its Sublicensees) after the end of any
calendar quarter for which Licensee has an obligation to make royalty payments. 
 7.4 Reports. 

7.4.1 Research Program Costs Report Within [**] after the end of each calendar quarter, Arvinas shall provide to Genentech, for each Research Program, a
report that specifies for the period specified the following information (“Research Program Costs Report”): (i) the actual number of FTEs that performed activities under the relevant Research Plan, both
internal and external, during such preceding calendar quarter and the amount reimbursable for such FTEs based on the applicable FTE Rates; (ii) a brief summary of the work performed by such individuals; and (iii) a copy (as may be redacted
to protect confidentiality) of the invoice(s) from relevant subcontractors. 
 7.4.2 Net Sales Report. For each calendar quarter for
which Licensee has an obligation to make Royalty Payments, such payments shall be accompanied by a report that specifies for such calendar quarter, on a Licensed
Product-by-Licensed Product basis, the following information (“Net Sales Report”): 

(i) total Net Sales of such Licensed Product in the Territory; 

(ii) Net Sales on a country-by-country basis for such Licensed
Product; 
 (iii) the exchange rate used to convert Net Sales from the currency in which they are earned to United States dollars; and 

(iv) the total royalties due to Arvinas, both on a
country-by-country basis and in the aggregate. 
 For clarity, if Licensee
is reporting Net Sales for more than one Licensed Product, the foregoing information shall be reported on a Licensed Product-by-Licensed Product basis. 

  

			
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 7.5 Invoicing.
Arvinas shall send invoices to Genentech in accordance with this Article 7 to: 
 Finance Manager, Genentech Partnering 

Genentech, Inc. 
 One DNA Way,
Mail Stop 53 
 South San Francisco, CA 94080 

7.6 Mode of Payment. All payments hereunder shall be made in immediately available funds to the account listed below (or such other account as Arvinas
shall designate before such payment is due): 
 Account Name: Arvinas, Inc. 

Account number: [**] 
 Routing
number (for wires only): [**] 
 Bank: [**] 

7.7 Currency of Payments. All payments under this Agreement shall be made in United States dollars, unless otherwise expressly provided in this
Agreement. Net Sales outside of the United States shall be first determined in the currency in which they are earned and shall then be converted into an amount in United States dollars as follows: (a) with respect to sales by or on behalf of
Licensee or its Affiliates, using Licensee’s customary and usual conversion procedures, to the extent consistent with Accounting Standards and consistently applied, and (b) with respect to sales by or on behalf of a given Sublicensee,
using the conversion procedures applicable to payments by such Sublicensee to Licensee for such sales, provided that such procedures are reasonable and consistent with industry standards. 

7.8 Blocked Currency. If, at any time, legal restrictions prevent Licensee (or its Affiliate or Sublicensee) from remitting part or all of royalty
payments when due with respect to any country where Licensed Products are sold, Licensee shall continue to provide Net Sales Reports for such royalty payments, and royalties accrued in that country shall be paid to Arvinas in the country in local
currency by deposit in a local bank designated by Arvinas, unless the Parties otherwise agree. 
 7.9 Taxes. Each Party shall comply with applicable
laws and regulations regarding filing and reporting for income tax purposes. Neither Party shall treat their relationship under this Agreement as a pass through entity for tax purposes. All payments made under this Agreement shall be made free and
clear of any and all taxes, duties, levies, fees or other charges, unless the paying Party is required by law to deduct or withhold a withholding tax. In the event of any such deduction or withholding being made, the paying Party may deduct or
withhold taxes required to satisfy the requirements of applicable Laws, and such amounts will be deducted from the relevant payment and paid to the proper taxing authority on behalf of the receiving Party. The paying Party will procure a tax receipt
or other documentation evidencing payment of such taxes, which will be promptly forwarded to the receiving Party. Each Party agrees to use reasonable efforts to assist the other Party in claiming exemption from such deductions or withholdings under
any applicable double taxation or similar agreement or treaty or to enable the other Party to receive a full refund of such withholding tax or to claim a foreign tax credit. 

  

			
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 7.10 Records;
Inspection. 
 7.10.1 Records. Arvinas agrees to keep, for [**] from the year of creation, records of all work done for each
reporting period in which Research Program Costs are to be reimbursed in sufficient detail to enable the report provided under Section 7.4.1 to be verified. Licensee agrees to keep, for [**] from the year of creation, records of all sales of
Licensed Products for each reporting period in which royalty payments are due, showing sales of Licensed Products for each Licensee and its Affiliates and applicable deductions in sufficient detail to enable the report provided under
Section 7.4.2 to be verified. 
 7.10.2 Audits. Genentech and Arvinas shall each have the right to audit reports provided
hereunder through an independent, certified and internationally recognized public accounting firm selected by the auditing Party and acceptable to audited Party (the “CPA Firm”). Such audit right shall (i) be limited to the
period during which the audited Party is required to maintain such records, (ii) not be exercised more than [**], and (iii) not more frequently than [**] with respect to records covering any specific period of time. Subject to
Section 7.10.3, each Party shall, within [**] following the auditing Party notifying such Party’s Alliance Manager in writing, and at a mutually agreeable time during its regular business hours, make its records available for inspection by
such CPA Firm at such place or places where such records are customarily kept, solely to verify the accuracy of the reports provided hereunder and related payments due under this Agreement. 

7.10.3 Confidentiality. Prior to any audit under Section 7.10.2, the CPA Firm shall enter into a written confidentiality agreement
with the audited Party that (i) limits the CPA Firm’s use of the audited Party’s records to the verification purpose described in Section 7.10.2; (ii) limits the information that the CPA Firm may disclose to the auditing Party to
the numerical summary of payments due and paid; and (iii) prohibits the disclosure of any information contained in such records to any Third Party for any purpose. The Parties agree that all information subject to review under
Section 7.10.2 and/or provided by the CPA Firm to the auditing Party is the audited Party’s Confidential Information, and the auditing Party shall not use any such information for any purpose that is not germane to Section 7.10.2.

 7.10.4 Underpayment; Overpayment. After reviewing the CPA Firm’s audit report, the audited Party shall promptly pay any
uncontested, understated amounts due to the auditing Party. Any overpayment made by the audited Party shall be promptly refunded or fully creditable against amounts payable in subsequent payment periods, at the audited Party’s election. Any
audit under Section 7.10.2 shall be at auditing Party’s expense; provided, however, the audited Party shall reimburse reasonable audit fees for a given audit if the results of such audit reveal that audited Party underpaid or overcharged
the auditing Party, as applicable, with respect to royalty payments or Research Program Costs reimbursements, by [**] percent ([**]%) or more for the audited period, provided that such amount exceeds $[**], and with respect to royalty payments, such
audited period includes at least [**]. 
 7.10.5 Duration. If Genentech or Arvinas does not request verification of records within the
period during which corresponding records must be maintained under Section 7.10.1, then Genentech or Arvinas, as relevant, will be deemed to have accepted the payments and reports of the relevant periods. 

  

			
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 7.11 Interest
Due; Recourse. Without limiting any other rights or remedies available to Arvinas, Licensee shall pay Arvinas interest on any payments that are not paid on or before the date such payments are due under this Agreement at an annual rate of [**]
percent ([**]%) above the prime rate as published by The Wall Street Journal on the date such payments first became due, or the maximum applicable legal rate, if less, calculated based on the total number of days payment is delinquent.
Genentech hereby assumes responsibility for, and unconditionally guarantees, the timely payment of amounts due from Licensee hereunder (the “Guaranteed Obligations”) promptly upon receipt from Arvinas of notice of nonpayment of any
such amount. Arvinas shall not be required, prior to any such notice to Genentech, to pursue or exhaust any of its rights or remedies against another defaulting Licensee with respect to performance of any Guaranteed Obligation, or to provide any
additional notice. 
 ARTICLE 8 

INTELLECTUAL PROPERTY 
 8.1 Disclosure.
In addition to disclosures to be made to Genentech as provided in Section 3.2.1 or pursuant to any reasonable request of Genentech to do so, following Genentech’s exercise of each Option with respect to an Exclusive Target in
accordance with Section 3.2 above, Arvinas shall promptly disclose to Genentech any New Intellectual Property (as defined below) made by or on behalf of Arvinas in the course of performing activities under the Research Program with respect to
such Exclusive Target. In addition, Arvinas shall promptly disclose to Genentech any New Intellectual Property made by or on behalf of Arvinas in the course of performing activities under an Optimization Program with respect to such Exclusive
Target. Arvinas’s disclosure obligations under this Section 8.1 continue beyond the Research Term of the applicable Research Program or the Optimization Term of the applicable Optimization Program, in each case to the extent necessary to
obtain patent protection for inventions within any New Intellectual Property as contemplated by this Article 8 and to establish inventorship thereof.  

8.2 Ownership. 
 8.2.1 As between the
Parties, all right, title and interest to Know-How and other intellectual property (together with all Patents and other intellectual property rights therein) made in the course of performing activities under
this Agreement (“New Intellectual Property”) (i) by or on behalf of Arvinas or any of its Affiliates, without the inventive contribution of any representative of Licensee or any of its Affiliates, shall be owned by
Arvinas (“Arvinas New Intellectual Property”), (ii) by or on behalf of Licensee or any of Licensee’s Affiliates, without the inventive contribution of any representative of Arvinas or any of its Affiliates, shall be
owned by Genentech (“Genentech New Intellectual Property”) and (iii) jointly with the inventive contribution of representatives of Arvinas or any of its Affiliates and of Genentech or any of its Affiliates shall be
jointly owned by Arvinas and Genentech (“Joint New Intellectual Property”). 
 8.2.2 Upon Genentech’s exercise
of its first Option with respect to an Exclusive Target in accordance with Section 3.2 above, all New Intellectual Property that is embodied, contained or incorporated in the Deliverables with respect to an Exclusive Target and, to the extent
an Optimization Program is conducted hereunder with respect to an Exclusive Target, all New 

  

			
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Intellectual Property that is embodied, contained or incorporated in the Optimization Deliverables with respect to an Exclusive Target, including but not limited to, [**], (“Deliverables
New Intellectual Property”) shall be subject to the provisions set forth in Sections 8.3, 8.4 and 8.5 of this Agreement regarding Deliverables New Intellectual Property as referenced therein, regardless of whether such New Intellectual
Property is Genentech New Intellectual Property, Arvinas New Intellectual Property or Joint New Intellectual Property as determined in accordance with this Section 8.2 above, with respect to each Exclusive Target until such rights may be
terminated on an Exclusive Target-by-Exclusive Target basis in accordance with this Agreement. Otherwise, the provisions regarding Genentech New Intellectual Property,
Arvinas New Intellectual Property or Joint New Intellectual Property, as relevant, shall apply. For clarity, notwithstanding any termination of rights with respect to Deliverables New Intellectual Property upon a termination of this Agreement with
respect to a particular Exclusive Target, any rights with respect to the same New Intellectual Property as may be included within the Arvinas Intellectual Property to the extent relevant to Licensed PROTACs or Licensed Products directed to a
different Exclusive Target(s) or to Licensee’s rights under Sections 3.3 or 8.2.7(a) of this Agreement shall remain in effect in accordance with Sections 8.3, 8.4, and 8.5. 

8.2.3 Arvinas will not incorporate any intellectual property owned by any Third Party, other than such intellectual property as is licensed by
Arvinas from Yale pursuant to the Yale Agreement, into any New Intellectual Property without Genentech’s prior written permission. 

8.2.4 Without limiting the foregoing, each Party shall have an undivided joint interest in and to the Joint New Intellectual Property
(including Patents and Know-How therein). Subject to the licenses granted in Sections 3.3 (Exclusive License) and 3.5 (Non-Exclusive Grantback License) and 8.2.7 (Non-Exclusive New Intellectual Property License), each Party may exploit fully the Joint New Intellectual Property, in any field, and may grant licenses and sublicenses under the Joint New Intellectual Property
without the consent of and without accounting to the other Party; provided that such right shall not be deemed to imply any license under any other Patent(s) Controlled by the other Party that would be infringed by such activity. Further, subject to
the license grants and covenants hereunder and only in accordance with any restrictions hereunder, each Party may transfer or encumber its ownership interest in and to the Joint New Intellectual Property without the consent of and without accounting
to the other Party. 
 8.2.5 Assignment; Further Assurances. The assignments necessary to accomplish the ownership provisions set
forth in this Section 8.2 are hereby made, and each Party shall execute such further documentation as may be necessary or appropriate, and provide reasonable assistance and cooperation, to implement the provisions of this Section 8.2.
Accordingly: 
 (a) In the event Joint New Intellectual Property was made by or on behalf of either Party or any of its Affiliates, such
Party (the “Assignor”), hereby assigns to the other Party (“Assignee”) such right, title and interest in and to such Joint New Intellectual Property as is required to effectuate joint ownership thereof in accordance
with Section 8.2. 
 (b) Each Party agrees to execute such documents, render such assistance, and take such other action as the other
Party may reasonably request, to apply for, register, perfect, confirm, and protect the other Party’s rights in any New Intellectual Property retained or assigned to the other Party in this Section 8.2. 

  

			
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(c) Each Party shall require all of its employees, Affiliates and any Third Parties working pursuant to this Agreement on its behalf, to assign
(or otherwise convey rights) to such Party any New Intellectual Property made by such employee, Affiliate or Third Party in the course of performing activities hereunder, and to cooperate with such Party in connection with obtaining intellectual
property protection therefor. 
 8.2.6 Inventorship. The determination of inventive contribution by or on behalf of a Party with
respect to New Intellectual Property for purposes of determining ownership as set forth above shall be made in accordance with the laws of inventorship under United States patent law. In the event of a dispute between the Parties over inventorship
of New Intellectual Property, the Parties shall refer such dispute to a mutually acceptable patent counsel to determine inventorship, and shall use all reasonable efforts to do so in an efficient and expedient manner. 

8.2.7 Non-Exclusive New Intellectual Property License. In consideration of the rights granted
under this Section 8.2: 
 (a) Arvinas hereby grants to Licensee a non-exclusive, worldwide,
perpetual, irrevocable, fully paid-up license, with the right to grant sublicenses, through one or more tiers of sublicensees, under any Arvinas New Intellectual Property (including any Deliverables New
Intellectual Property) to the extent that it relates to a modification of or improvement to a Genentech Compound, or to a product (other than a Licensed Product) containing such a Genentech Compound or a modification of or improvement thereto,
and/or the manufacture, use and/or formulation thereof, to make, have made, use, sell, offer for sale, and import such Genentech Compounds or products; and 

(b) Arvinas hereby grants to Licensee a non-exclusive, worldwide, perpetual, irrevocable, fully paid-up license, with the right to grant sublicenses, through one or more tiers of sublicensees, under any Know-How within the Arvinas New Intellectual Property (including any
Deliverables New Intellectual Property) to the extent that it relates to a [**], to use such Know-How to make, use, sell, offer for sale, and import products containing or otherwise incorporating [**]. For
clarity, such license does not include rights under any Arvinas Patent. Licensee shall not, and shall have no right to, alone or through any Third Party, exercise or sublicense the license granted under this Section 8.2.7(b) unless and until
Genentech has exercised its first Option with respect to an Exclusive Target in accordance with Section 3.2 above. 
 8.3 Patent Prosecution and
Maintenance. Subject to this Section 8.3, as between the Parties, each Party shall have the sole right to Prosecute and Maintain Patents that such Party owns or controls independently of the other Party (as determined in accordance with
this Agreement or otherwise). The Parties agree that, in the event that Genentech has exercised its first Option with respect to an Exclusive Target in accordance with Section 3.2 above, the provisions set forth in this Section 8.3 below
shall apply and the Parties shall consult with each other as to potential strategies to Prosecute and Maintain Patents with respect to Licensed PROTACs and Licensed Products with the goal to obtain Patent protection of Licensed PROTACs, as a whole
[**], directed to Exclusive Targets as further set forth below. 
 8.3.1 Joint New Intellectual Property and Deliverables New Intellectual
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(a) First Right. Genentech shall, at its sole discretion and expense, have the right (but not the obligation) to Prosecute and Maintain
Patents claiming Joint New Intellectual Property and Patents claiming the Deliverables New Intellectual Property. In accordance with Section 8.3.4 below, Genentech shall appropriately consult with Arvinas and keep Arvinas reasonably informed of
the status of any such Prosecution and Maintenance, and Arvinas will provide all reasonable cooperation and assistance to Genentech at Genentech’s reasonable request and at Genentech’s expense in any such Prosecution and Maintenance of the
Joint New Intellectual Property and Deliverables New Intellectual Property, including making data, reports, and scientific personnel reasonably available to prepare and prosecute patent applications. 

(b) Back Up Right. If Genentech elects not to Prosecute and Maintain any Patent within the Joint New Intellectual Property or
Deliverables New Intellectual Property pursuant to Section 8.3.1(a) in any country, then Genentech shall provide at least [**] written notice to Arvinas. Thereafter, upon Genentech’s prior written consent, not to be unreasonably withheld,
Arvinas shall have the right, but not the obligation, to Prosecute and Maintain any said Patents in such country(ies), at its sole expense and in its sole discretion; provided that in accordance with Section 8.3.4 below, Arvinas shall
appropriately consult with Genentech and keep Genentech reasonably informed of the status of any such Prosecution and Maintenance. Genentech will provide all reasonable cooperation and assistance to Arvinas at Arvinas’ reasonable request and at
Arvinas’ expense in any such Prosecution and Maintenance. The ownership or license rights of either Party shall not be affected, notwithstanding any such transfer of Prosecution and Maintenance of said Patents. 

8.3.2 Arvinas Patents. Arvinas shall have the sole and exclusive right, at its discretion and expense, to Prosecute and Maintain Patents
within the Arvinas Intellectual Property (other than Joint New Intellectual Property and Deliverables New Intellectual Property, which shall be Prosecuted and Maintained pursuant to Section 8.3.1 above); provided that Arvinas shall not file any
patent application that expressly claims or otherwise discloses the Deliverables, Optimization Deliverables, or any PROTAC or Product that in either case contains a Genentech Compound without the prior written consent of Genentech, which consent
shall not be unreasonably withheld or delayed. In accordance with Section 8.3.4 below, Arvinas shall appropriately consult with Genentech with respect to any such Prosecution or Maintenance to the extent relevant to Licensed PROTACs or Licensed
Products directed to Exclusive Targets or to Licensee’s rights under Sections 3.3 or 8.2.7(a) of this Agreement. 
 8.3.3
Interferences Between the Parties. If an interference or derivation proceeding is declared by the US Patent and Trademark Office between one or more of the Patents within the Joint New Intellectual Property, Deliverables New Intellectual
Property or other Arvinas Intellectual Property or otherwise Controlled by Licensee and such declared interference or derivation proceeding does not involve any Patents owned by a Third Party, then the Parties shall in good faith establish a
mutually agreeable process to resolve such interference or derivation proceeding in a reasonable manner in conformance with all applicable legal standards. 

8.3.4 Consultation. In each case with respect to the Prosecution and Maintenance of Joint New Intellectual Property or Deliverables New
Intellectual Property or other Arvinas Intellectual Property to the extent relevant to Licensed PROTACs or Licensed Products directed to Exclusive Targets or to Licensee’s rights under Sections 3.3 or 8.2.7(a) of this Agreement, the filing or
prosecuting Party, as provided above and as relevant (“Filing Party”) shall appropriately consult with the other Party (“Non-Filing Party”) and keep the Non-Filing Party reasonably informed of the status of any such Prosecution and Maintenance as follows: 

  

			
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 The Filing Party
shall give the Non-Filing Party an opportunity to review the text of any application before filing, shall consult with the Non-Filing Party with respect thereto,
and shall supply the Non-Filing Party with a copy of the application as filed, together with notice of its filing date and serial number. The Filing Party shall keep the
Non-Filing Party advised of the status of the actual and prospective patent filings and, upon the Non-Filing Party’s request, shall provide advance copies of any
papers related to the filing, prosecution and maintenance of such patent filings. The Filing Party shall regularly provide the other Party with copies of all material submissions and correspondence with the patent offices, in sufficient time to
allow for review and comment by the Non-Filing Party. The Filing Party will provide the Non-Filing Party and its patent counsel with an opportunity to consult with the
Filing Party and its patent counsel regarding the filing and contents of patent applications, amendments, submissions or responses, and the advice and suggestions of the Non-Filing Party and its patent counsel
shall be taken into consideration in good faith by the Filing Party and its patent counsel. Each Party agrees to execute and deliver, at the reasonable request and sole expense of the Filing Party all papers, instruments and assignments, and to
perform any other reasonable acts as the Filing Party may require, in order for such Party to pursue relevant patent applications in accordance with this Section 8.3. Each Party shall promptly give notice to the other Party of the grant, lapse,
revocation, surrender, invalidation or abandonment of any Patent for which such Party is responsible under this Section 8.3 for Prosecution and Maintenance. With respect to all filings hereunder, the Filing Party (as of the relevant time such
cost or expense is incurred) shall be responsible for payment of all costs and expenses related to such filings. 
 The Parties shall discuss in good faith
whether to segregate filings on New Intellectual Property such that Patents do not claim both Deliverables New Intellectual Property and other Arvinas New Intellectual Property or Joint New Intellectual Property, or whether consolidated filings
would be preferred. 
 In addition, and notwithstanding any other provision hereof, Genentech agrees that it will not file any patent application claiming
any invention within the Deliverables or Optimization Deliverables or in which a representative of Arvinas is a named inventor, which includes Dr. Craig Crews, without prior consultation with Arvinas as set forth under this Section 8.3.4.

 8.4 Enforcement Rights for Infringement by Third Parties. 

8.4.1 Notice. Except with respect to Paragraph IV Claims (which shall be enforced pursuant to Section 8.5 below), each Party shall
promptly notify, in writing, the other Party upon learning of (a) any actual or suspected infringement or misappropriation of the Joint New Intellectual Property or Deliverables New Intellectual Property, or (b) any actual or suspected
infringement or misappropriation of any other Arvinas Intellectual Property to the extent relevant to Licensee’s rights under Sections 3.3 or 8.2.7(a) of this Agreement this Agreement, or (c) except for matters that are subject to
Section 8.3.3 above, any declaratory judgment action or similar claim of invalidity, unenforceability, or non-infringement of the Joint New Intellectual Property, Deliverables New Intellectual Property or
such other Arvinas Intellectual Property (each, an “Infringement”). At the request of the Party receiving such notice, the other Party shall provide all evidence in its possession pertaining to the actual or suspected Infringement
that it can disclose without breach of a pre-existing obligation to a Third Party or waiver of privilege. 

  

			
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8.4.2 Enforcement Actions. The Parties shall consult as to potential strategies to terminate suspected or potential Infringement,
consistent with the overall goals of this Agreement. If the Parties fail to agree on such strategies: 
 (a) Genentech or its designee shall
have the first right, but not the obligation, to seek to abate any actual or suspected Infringement by a Third Party, or to file suit against any Third Party for Infringement, in each case of any Joint New Intellectual Property or Deliverables New
Intellectual Property, at its own expense, in its own name and under its own direction and control. If Genentech or its designee does not initiate any such action within [**] of any written request by Arvinas for Genentech or its designee to do so
following consultation in accordance with this Section 8.4.2, Arvinas shall have the right, but not the obligation, to take action to enforce against such Infringement under such Joint New Intellectual Property or Deliverables New Intellectual
Property, at its own expense, in its own name and under its own direction and control; provided that if Genentech or its designee is pursuing in earnest ongoing settlement discussions at the end of such [**] period, then Arvinas shall not be
permitted to exercise such right unless such settlement discussions cease without reaching settlement or Genentech or its designee ceases to pursue such discussions in earnest. 

(b) Arvinas shall have the first right, but not the obligation, to seek to abate any actual or suspected Infringement by a Third Party, or to
file suit against any Third Party for Infringement, in each case of any Arvinas Intellectual Property (other than Joint New Intellectual Property and Deliverables New Intellectual Property, which shall be subject to Section 8.4.2(a) above), at
its own expense, in its own name and under its own direction and control; provided that if such Infringement is also an Infringement of any Joint New Intellectual Property or Deliverables New Intellectual Property, then the Parties shall consult as
to potential strategies to terminate suspected or potential Infringement with respect to such New Intellectual Property in accordance with Section 8.4.2(a) prior to initiating any such action with respect to any such Arvinas Intellectual
Property in accordance with this Section 8.4.2(b). With respect to any such action regarding an Infringement of any Arvinas Patent to the extent relevant to Licensee’s rights under Sections 3.3 or 8.2.7(a) of this Agreement, if Arvinas
does not, within [**] of receipt of the relevant consultation in accordance with this Section 8.4.2, take steps to abate the Infringement, or to file suit to enforce against such Infringement, then Genentech or its designee, subject to any
relevant obligations under Section 11.2 of the Yale Agreement, shall have the right, but not the obligation, to take action to enforce against such Infringement under such Arvinas Patent but only to the extent directly relevant to
Licensee’s rights with respect to an Exclusive Target under Sections 3.3 that Licensee is permitted to exercise or to Licensee’s rights under Section 8.2.7(a) of this Agreement, in each case at its own expense, in its own name and
under its own direction and control; provided that if Arvinas is pursuing in earnest ongoing settlement discussions at the end of such [**] period, then Genentech or its designee shall not be permitted to exercise such right unless such settlement
discussions cease without reaching settlement or Arvinas ceases to pursue such discussions in earnest. 

  

			
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(c) The non-controlling Party(ies) shall cooperate with the Party controlling any such action to abate
or enforce pursuant to this Section 8.4.2 (an “Enforcement Action”) (as may be reasonably requested by the controlling Party and at the controlling Party’s expense), including, if necessary, by being joined as a party,
provided that the non-controlling Party shall be indemnified by the controlling Party as to any costs or expenses incurred, and shall have the right to be represented by its own counsel, at its own expense;
provided that the controlling Party shall retain overall responsibility for the prosecution of such Enforcement Action in such event. The Party controlling any such action shall keep the other Party updated with respect to any such Enforcement
Action, including providing copies of all documents received or filed in connection with any such Enforcement Action. 
 8.4.3 Settlement.
The Party controlling any Enforcement Action, at its sole discretion, may take reasonable actions to terminate any alleged Infringement without litigation; provided, that if any such arrangement could reasonably be deemed to adversely affect the
non-controlling Party’s rights (whether granted or retained) under this Agreement or to restrict the scope, or adversely affect the enforceability of the
non-controlling Party’s Patents, or would require the consent of any Third Party licensor of such non-controlling Party, then that arrangement is subject to the non-controlling Party’s prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. The Party controlling any Enforcement Action may not settle or consent to an adverse
judgment that could reasonably be deemed to adversely affect the non-controlling Party’s rights (whether granted or retained) under this Agreement or to restrict the scope, or adversely affect the
enforceability of the non-controlling Party’s Patents without the express written consent of the non-controlling Party (such consent not to be unreasonably
withheld, conditioned or delayed). 
 8.4.4 Costs and expenses. The Party controlling any Enforcement Action shall bear all costs and
expenses, including but not limited to litigation expenses, related to such Enforcement Action, except as expressly provided above. 
 8.4.5
Damages. Unless otherwise mutually agreed by the Parties, and subject to the respective indemnity obligations of the Parties set forth in Article 12, all damages, amounts received in settlement, judgment or other monetary awards recovered in
an Enforcement Action with respect to activities of the Third Party that occurred prior to the effective date of such award shall be shared as follows: 

(a) first, to reimburse each Party (and their respective Third Party licensors or (sub)licensees joined as a party in such Enforcement Action)
for all costs and expenses incurred by such Party related to such Enforcement Action, including, without limitation, reasonable attorneys’ fees. If such recovery is insufficient to cover all such costs and expenses of both Parties, it shall be
shared in proportion to the total of such costs and expenses incurred by each Party (and their respective Third Party licensors or (sub)licensees joined as a party in such Enforcement Action); 

(b) If, after such reimbursement, any funds remain from such damages or other sums recovered, such funds shall be divided as follows:
(i) if and to the extent awarded as lost sales, the amounts shall go to Licensee in reimbursement for lost sales (net of royalties thereon which shall be paid in accordance with Section 6.4 and subject to Section 6.5) and (ii) if
and to the extent not awarded as lost sales, the amounts shall go to Licensee, with Arvinas being paid a royalty thereon at the Valid Claim Licensed Product rate as set forth under Section 6.4. 

  

			
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 For the avoidance
of doubt, if any settlement results in Licensee granting to the alleged infringer a sublicense under the Joint New Intellectual Property, Deliverables New Intellectual Property or other Arvinas Intellectual Property with running royalties payable on
post-settlement sales by the alleged infringer, such alleged infringer shall be deemed to be a Sublicensee of Licensee and such royalties on post-settlement sales (x) shall be subject to all applicable royalty obligations hereunder, and
(y) shall not be subject to this Section 8.4.5; provided, that any upfront or event payments or the like shall be deemed special damages and subject to Section 8.4.5(b)(ii). In the event the sublicense agreement includes other
intellectual property that is not subject of this Agreement, then Licensee shall have the right, in its reasonable discretion, to apportion such upfront, event payments and/or royalties pro-rata between such
other intellectual property and such Joint New Intellectual Property, Deliverables New Intellectual Property or other Arvinas Intellectual Property. 
 8.5
Certification under Drug Price Competition and Patent Restoration Act. 
 8.5.1 Notice. If a Party becomes aware of any
certification filed pursuant to 21 U.S.C. §355(b)(2)(A) or §355(j)(2)(A)(vii)(IV) or its successor provisions asserting that any Patents Controlled by Arvinas and/or Genentech Covering a Licensed PROTAC or Licensed Product directed to an
Exclusive Target in the Field in the Territory are invalid or otherwise unenforceable, or that infringement of any such Patents will not arise from the manufacture, use, import or sale of a Product in the Field in the Territory by a Third Party (a
“Paragraph IV Claim”), such Party shall promptly notify the other Party in writing within [**] after its receipt thereof. 

8.5.2 Control. Genentech shall have the first right, but not the obligation, to file suit against the relevant Third Party to enforce
any and all Patents Controlled by Arvinas and/or Genentech included in a Paragraph IV Claim, at its own expense, in its own name (except as otherwise required under applicable Law) and under its own direction and control. If Genentech elects not to
file suit against the relevant Third Party to enforce any Arvinas Patent named in a Paragraph IV Claim, then Genentech shall notify Arvinas as soon as practicable, but in any event not later than [**] before the first action required to file suit to
enforce such Arvinas Patent in response to such Paragraph IV Claim, and Arvinas shall have the right, but not the obligation, to file suit to enforce such Arvinas Patent in response to such Paragraph IV Claim, at its own expense, in its own name
(except as otherwise required under applicable Law) and under its own direction and control, but solely with respect to such Arvinas Patent. 

8.5.3 The non-controlling Party(ies) shall cooperate with the Party controlling any such action to
enforce pursuant to this Section 8.5 (an “Paragraph IV Action”) (as may be reasonably requested by the controlling Party and at the controlling Party’s expense), including, if necessary, by being joined as a party provided
that the non-controlling Party shall be indemnified by the controlling Party as to any costs or expenses incurred, and shall have the right to be represented by its own counsel at its own expense;
provided that the controlling Party shall retain overall responsibility for the prosecution of such Paragraph IV Action in such event. The controlling Party shall regularly provide to the non-controlling
Party updates of such Paragraph 

  

			
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IV Action and copies of all material filings and communications with respect to such Paragraph IV Action, in sufficient time to allow for review and comment by the
non-controlling Party. The controlling Party shall provide the non-controlling Party and its litigation counsel with an opportunity to consult with the controlling Party
and its litigation counsel regarding the filing and contents of material filings and communications with respect to such Paragraph IV Action, and the advice and suggestions of the non-controlling Party and its
litigation counsel shall be taken into consideration in good faith by the controlling Party and its litigation counsel. 
 8.5.4
Settlement. The Party controlling any Paragraph IV Action, at its sole discretion, may take reasonable actions to settle such Paragraph IV Action; provided, that if any such arrangement could reasonably be deemed to adversely affect the non-controlling Party’s rights (whether granted or retained) under this Agreement or to restrict the scope, or adversely affect the enforceability of the non-controlling
Party’s Patents, or would require the consent of any Third Party licensor of such non-controlling Party, then that arrangement is subject to the non-controlling
Party’s prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. The Party controlling any Paragraph IV Action may not settle or consent to an adverse judgment that could reasonably be deemed to adversely
affect the non-controlling Party’s rights (whether granted or retained) under this Agreement or to restrict the scope, or adversely affect the enforceability of the
non-controlling Party’s Patents or the commercialization of a Licensed Product in the Field in the Territory, without the express written consent of the
non-controlling Party (such consent not to be unreasonably withheld, conditioned or delayed). 

8.5.5 Any compensation recovered as a result of a Paragraph IV Action shall be allocated as set forth in Section 8.4.5 above, as
applicable. For clarity, in the event neither Party files suit against the relevant Third Party with respect to a Paragraph IV Claim pursuant to this Section 8.5, any subsequent actual or threatened infringement or declaratory judgment action
or similar claim of invalidity, unenforceability, or non-infringement with respect to Joint New Intellectual Property or other Arvinas Intellectual Property that is reasonably relevant to Licensee’s
rights under this Agreement shall be considered an “Infringement” subject to Section 8.4 above. 
 8.6 Third Party Infringement Claims.

 8.6.1 Notice. In the event that a Third Party shall make any claim, give notice, or bring any suit or other inter partes proceeding
against any Licensee entity or Arvinas, or any of their respective Affiliates or (Sub)licensees or customers, for infringement or misappropriation of any intellectual property rights with respect to the research, development, making, using, selling,
offering for sale, import or export of any Licensed Product in the Field in the Territory (“Third Party Infringement Claim”), in each case, the Party receiving notice of a Third Party Infringement Claim shall promptly notify the
other Party and provide all evidence in its possession pertaining to the claim or suit that it can disclose without breach of a pre-existing obligation to a Third Party or waiver of privilege. 

  

			
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8.6.2 Defense. The Parties shall consult, pursuant to a common joint defense agreement, as to potential strategies to defend against any
Third Party Infringement Claim, consistent with the overall goals of this Agreement, including by being joined as a party. The Parties shall cooperate with each other in all reasonable respects in the defense of any Third Party Infringement Claim or
raising of any counterclaim related thereto. If the Parties fail to agree on such strategies, and subject to the respective indemnity obligations of the Parties set forth in Article 12, Genentech or its designee shall be solely responsible for
defending such Third Party Infringement Claim including but not limited to selection of counsel, venue, and directing all aspects, stages, motions, and proceedings of litigation. If Genentech or its designee does not, within [**] of receipt of a
notice under Section 8.6.1, take steps to defend the Third Party Infringement Claim, then to the extent that such Third Party Infringement Claim is brought against Arvinas and relates to acts by or on behalf of Arvinas under a Research Program
or an Optimization Program or in breach of this Agreement, Arvinas shall have the right, but not the obligation, to defend against such Third Party Infringement Claim; provided that if Genentech or its designee is pursuing in earnest ongoing
settlement discussions at the end of such [**] period, then Arvinas shall not be permitted to exercise such right unless such settlement discussions cease without reaching settlement or Genentech or its designee ceases to pursue such discussions in
earnest. At the controlling Party’s request and expense, the non-controlling Party(ies) shall cooperate with the controlling Party in connection with any such defense, provided that the non-controlling
Party(ies) shall be indemnified by the controlling Party as to any costs or expenses, and shall have the right to be represented by its own counsel but at its own expense. Any counterclaim or other similar action by a Party, to the extent such
action involves any enforcement of rights under Joint New Intellectual Property, Deliverables New Intellectual Property or other Arvinas Intellectual Property, will be treated as an Enforcement Action subject to Section 8.4 above. 

8.6.3 Settlement. If any defense action against a Third Party Infringement Claim pursuant to Section 8.6.2 above would adversely
affect the other Party’s rights under this Agreement or impose a financial obligation upon the other Party or grant rights in respect, or affect the validity or enforceability, of the other Party’s Patents, then any settlement, consent
judgment or other voluntary final disposition of such Third Party Infringement Claim shall not be entered into without the consent of the other Party (such consent not to be unreasonably withheld, conditioned or delayed). 

8.6.4 Costs and Expenses. The Party controlling the defense of any Third Party Infringement Claim shall bear all costs and expenses,
including but not limited to litigation expenses, to defend against any Third Party Infringement Claim, except as expressly provided above. 
 8.7
Attorney-Client Privilege. Neither Party is waiving, nor shall be deemed to have waived or diminished, any of its attorney work product protections, attorney-client privileges or similar protections and privileges or the like as a result of
disclosing information pursuant to this Agreement, or any of its Confidential Information (including Confidential Information related to pending or threatened litigation) to the receiving Party, regardless of whether the disclosing Party has
asserted, or is or may be entitled to assert, such privileges and protections. The Parties: (a) share a common legal and commercial interest in such disclosure that is subject to such privileges and protections; (b) are or may become joint
defendants in proceedings to which the information covered by such protections and privileges relates; (c) intend that such privileges and protections remain intact should either Party become subject to any actual or threatened proceeding to
which the disclosing Party’s Confidential Information covered by such protections and privileges relates; and (d) intend that after the Original Effective Date both the receiving Party and the disclosing Party shall have the right to
assert such protections and privileges.  

  

			
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 8.8 Patent
Challenges. For the purposes of this Section 8.8, a “Yale Patent Challenge” shall mean any action or proceeding (including any patent opposition or re-examination proceeding)
challenging or denying the validity, patentability, and/or enforceability of any of the “LICENSED PATENTS” (as defined in the Yale Agreement) under which a Yale Patent Sublicensee is a SUBLICENSEE (as defined in the Yale Agreement) in a
court of competent jurisdiction or with any governmental agency with authority over such LICENSED PATENTS anywhere in the world; and a “Yale Patent Sublicensee” shall mean Licensee or any of its Affiliates or Sublicensees.
Except to the extent the following is unenforceable under the Laws of a particular jurisdiction, in the event that (i) any Yale Patent Sublicensee brings a Yale Patent Challenge anywhere in the world, or (ii) any Yale Patent Sublicensee
knowingly assists another party in bringing a Yale Patent Challenge anywhere in the world (except as required under a court order or subpoena), then the following would apply:

8.8.1 During the pendency of such Yale Patent Challenge and thereafter solely to the extent provided in Section 8.8.3, in addition to any
amounts due from Licensee to Arvinas pursuant to Article 6 of this Agreement (which shall remain payable as further described below), Genentech shall pay directly to Yale, on behalf of Arvinas, [**] percent ([**]%) of the royalties due from Arvinas
to Yale under the Yale Agreement with respect to all Net Sales of Licensed Products by Licensee, its Affiliates or Sublicensees (defined below as “Yale Royalties”) on or after the date of such Yale Patent Challenge, provided that if a
first sale to a Third Party of any Licensed Product on which royalties are owed to Arvinas hereunder has not been made by any Yale Patent Sublicensee in any country prior to the commencement of such Yale Patent Challenge, Genentech shall, until such
first sale occurs, pay directly to Yale, within [**] of the date of such Yale Patent Challenge and on or before each anniversary of the date of such Yale Patent Challenge which occurs prior to such first sale, an amount equal to [**] U.S. dollars
(US$[**]), which is based on the license maintenance royalty due to Yale from Arvinas pursuant to Section 5.2 of the Yale Agreement. Unless otherwise provided in Section 8.8.2, the payments described above shall be made to Yale in
accordance with Sections 7.3, 7.4.2, 7.7, 7.8, 7.9 and 7.11 of this Agreement, but to Yale and for the benefit of Yale, and to an account designated by Yale in writing. For clarity, such payments shall be due from Genentech in addition to any
obligation of Arvinas to pay Yale such amounts as are due under the Yale Agreement and to the obligation of Genentech to pay Arvinas any amounts due under this Agreement, in each case based on the development and commercialization of Licensed
Products by Licensee, its Affiliates or Sublicensees, and all such payments shall be due without any other penalty that may be assessed on such amounts or other payments due from Arvinas to Yale under the Yale Agreement as a result of a Yale Patent
Challenge.
 For reference purposes, the royalties due from Arvinas to Yale under the Yale Agreement with respect to Net Sales of Licensed Products by
Licensee, its Affiliates or Sublicensees (“Yale Royalties”) are as follows: [**] percent ([**]%) on Net Sales of Licensed Products directed to Exclusive Targets that are VALID CLAIM PRODUCTS (as defined in the Yale Agreement) and
[**] percent ([**]%) of Licensed Products directed to Exclusive Targets that are MEANINGFULLY INVOLVED PRODUCTS (as defined in the Yale Agreement), subject to certain qualifications regarding a CHANGE OF CONTROL (as defined in the Yale Agreement)

  

			
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of Arvinas whose status Arvinas shall clarify to Genentech in writing upon written request of Genentech to do so as of the relevant time, provided that in the event that Arvinas is not owed any
royalty pursuant to this Agreement with respect to any Licensed Product under this Agreement that is either a VALID CLAIM PRODUCT or a MEANINGFULLY INVOLVED PRODUCT under the Yale Agreement, Genentech shall not owe any royalty thereon to Yale
pursuant to this Section 8.8.1. Notwithstanding the foregoing, with respect to Net Sales of any Deliverables Know-How Licensed Product that is either a MEANINGFULLY INVOLVED PRODUCT or a VALID CLAIM
PRODUCT under the Yale Agreement on which EARNED ROYALTIES are owed from Arvinas to Yale under the Yale Agreement, Genentech shall be obligated to pay to Yale pursuant to this Section 8.8.1, as part of the Yale Royalties, [**] percent ([**]%)
of the corresponding royalty amount owed to Arvinas pursuant to this Agreement with respect to Net Sales of any such Licensed Product. 

8.8.2 Genentech shall have the right, during the pendency of such Yale Patent Challenge, to pay any or all amounts due directly from Genentech
to Yale under Section 8.8.1 above (or portion thereof) into an interest-bearing escrow account to be held pending Determination of such Yale Patent Challenge; provided that all such amounts escrowed, together with any interest accrued thereon,
shall be paid over directly to Yale, on behalf of Arvinas, or returned to Genentech, as appropriate, upon the Determination of such Yale Patent Challenge as further set forth below. Arvinas acknowledges and agrees that such payments made into
escrow shall satisfy Genentech’s direct payment obligations under Section 8.8.1 above as if such payments were made directly to Yale on behalf of Arvinas (and Genentech shall not be in breach of this Agreement, nor shall any licenses
granted to Genentech under this Agreement terminate, as a result of Genentech making such payments into escrow). For clarity, the amounts to be paid by Arvinas to Yale under this Agreement shall continue to be paid directly to Yale and not into
escrow. For the purposes of this Section 8.8, a “Determination” shall mean any final judgment, final agency determination or final arbitration award, or, if applicable, voluntary dismissal of the Yale Patent Challenge, in each
case, from which no appeal may be filed in a court of competent jurisdiction or with any governmental agency with authority over such LICENSED PATENTS anywhere in the world. 

8.8.3 If such Yale Patent Challenge results in a Determination that at least one of the claims of the LICENSED PATENTS that has been challenged
in such Yale Patent Challenge is valid, patentable, enforceable and infringed, then the following would apply:
 (a) All amounts escrowed
pursuant to Section 8.8.2 above, together with any interest accrued thereon, shall be paid over directly to Yale, on behalf of Arvinas.

(b) For the remainder of the term of the Yale Agreement, in addition to any amounts due from Licensee to Arvinas pursuant to Article 6 of this
Agreement (which shall remain payable to Arvinas as further described in Section 8.8.1), Genentech shall continue to pay directly to Yale, on behalf of Arvinas, the amounts due from Genentech to Yale pursuant to Section 8.8.1 above. 

(c) Genentech shall promptly reimburse Yale, on behalf of Arvinas, for all reasonable attorney’s fees and expenses incurred in connection
with such Yale Patent Challenge. 

  

			
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8.8.4 If such Yale Patent Challenge results in a determination that all of the claims of the LICENSED PATENTS that have been challenged in such
Yale Patent Challenge are invalid, unpatentable, unenforceable and/or not infringed, then the following would apply: 
 (a) All amounts
escrowed pursuant to Section 8.8.2 above, together with any interest accrued thereon, shall be returned to Genentech.
 (b) Except as
provided under Section 8.8.4(a) above, Genentech will have no right to recoup any payments made prior to such Determination. 
 8.8.5 In
addition, Genentech hereby agrees that no Yale Patent Sublicensee shall bring a Yale Patent Challenge without first providing to Arvinas and Yale at least [**] prior written notice setting forth the claims and patents that are being challenged or
claimed not to be infringed. 
 8.9 Patent Marking. To the extent commercially feasible and consistent with Licensee’s business practices,
Licensee shall use Diligent Efforts to mark, and shall cause its Affiliates and Sublicensees to use Diligent Efforts to mark, each Licensed Product to be sold pursuant to this Agreement that is Covered by one or more “LICENSED PATENTS” (as
defined in the Yale Agreement) with the number of each such LICENSED PATENT that applies to such Licensed Product. 
 ARTICLE 9 

CONFIDENTIALITY 
 9.1 Non-use and Non-disclosure of Confidential Information. During the Term, and for a period of [**] thereafter, a Party (the “Receiving Party”) receiving
Confidential Information of the other Party hereunder (the “Disclosing Party”) (or that has received any such Confidential Information from the other Party prior to the Original Effective Date) shall (i) except to the extent
permitted by this Agreement in connection with the performance of its obligations or exercise of its rights hereunder or otherwise agreed to in writing, keep confidential and not disclose to any Third Party any Confidential Information of the other
Party; (ii) except to the extent permitted by this Agreement in connection with the performance of its obligations or exercise of its rights hereunder or otherwise agreed to in writing, not use for any purpose any Confidential Information of
the other Party; and (iii) take all reasonable precautions to protect the Confidential Information of the other Party (including all precautions a Party employs with respect to its own confidential information of a similar nature and taking
reasonable precautions to assure that no unauthorized use or disclosure is made by others to whom access to the Confidential Information of the Party is granted). 

9.2 Exclusions Regarding Confidential Information. Notwithstanding anything set forth in this Article 9 to the contrary, the obligations of
Section 9.1 above shall not apply to the extent that the Receiving Party can demonstrate that the Confidential Information of the Disclosing Party: 

(a) was already known to the Receiving Party, other than under an obligation of confidentiality, at the time of receipt by the Receiving Party;

  

			
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(b) was generally available to the public or otherwise part of the public domain at the time of its receipt by the Receiving Party; 

(c) became generally available to the public or otherwise part of the public domain after its receipt by the Receiving Party other than through
any act or omission of the Receiving Party in breach of this Agreement; 
 (d) was received by the Receiving Party without an obligation of
confidentiality from a Third Party having the right to disclose such information without restriction; 
 (e) was independently developed by
or for the Receiving Party without use of or reference to the Confidential Information of the Disclosing Party; or 
 (f) was released from
the restrictions set forth in this Agreement by express prior written consent of the Party. 
 Any combination of two or more individual features or
components shall not be deemed to fall within any of the foregoing exclusions merely because the individual features or components fall separately within such foregoing exclusions, unless the combination itself or the principle of operation to
combine such features or components fall within such foregoing exclusions. 
 9.3 Authorized Disclosures of Confidential Information. Notwithstanding
the foregoing, a Receiving Party may use and disclose the Confidential Information of the Disclosing Party as follows: 
 (a) subject to
Section 9.4, if required by law, rule or governmental regulation, including as may be required in connection with any filings made with, or by the disclosure policies of a major stock exchange; provided that the Party seeking to disclose the
Confidential Information of the other Party (i) use all reasonable efforts to inform the other Party prior to making any such disclosures and cooperate with the other Party in seeking a protective order or other appropriate remedy (including
redaction) and (ii) whenever possible, request confidential treatment of such information; 
 (b) to the extent such use and disclosure
is reasonably required in the Prosecution and Maintenance of a Patent within the Joint New Intellectual Property or Deliverables New Intellectual Property in accordance with this Agreement; 

(c) as reasonably necessary to obtain or maintain any regulatory approval, including to conduct preclinical studies and clinical trials and for
pricing approvals, for any Licensed Products directed to Exclusive Targets, provided, that, the disclosing Party shall take all reasonable steps to limit disclosure of the Confidential Information outside such regulatory agency and to otherwise
maintain the confidentiality of the Confidential Information. The Receiving Party shall furnish only that portion of the Confidential Information which it is advised by counsel is legally required whether or not a protective order or other similar
order is obtained by the Disclosing Party; 

  

			
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(d) to take any lawful action that it deems necessary to protect its interest under, or to enforce compliance with the terms and conditions of,
this Agreement; or 
 (e) to the extent necessary, to permitted Affiliates, Sublicensees, licensees, collaborators, vendors, consultants,
agents, attorneys, contractors and clinicians under written agreements of confidentiality at least as restrictive as those set forth in this Agreement, who have a need to know such information in connection with such Party performing its obligations
or exercising its rights under this Agreement. Further, the Receiving Party may disclose Confidential Information of the Disclosing Party to existing or bona fide potential acquirers, merger partners, permitted collaborators, licensees and
sources of financing or to professional advisors (e.g. attorneys, accountants and prospective investment bankers) involved in such activities, for the limited purpose of evaluating such transaction, collaboration or license and under appropriate
conditions of confidentiality, only to the extent necessary and with the agreement by those permitted individuals to maintain such Confidential Information in strict confidence. 

Confidential Information that is disclosed in accordance with this Section 9.3 shall remain otherwise subject to the confidentiality and non-use provisions of this Article 9 except to the extent that such permitted disclosure results in a public disclosure of such information (otherwise than by breach of this Agreement). 

9.4 Securities Filings. In the event either Party proposes to file with the Securities and Exchange Commission, or the securities regulators of any
state or other jurisdiction, a registration statement or any other disclosure document which describes or refers to this Agreement under the Securities Act of 1933, as amended, the Securities Exchange Act, of 1934, as amended, or any other
applicable securities Law, the Party shall notify the other Party of such intention and shall provide such other Party with a copy of relevant portions of the proposed filing not less than [**] prior to such filing (and any revisions to such
portions of the proposed filing a reasonable time prior to the filing thereof), including any exhibits thereto relating to this Agreement, and shall use reasonable efforts to obtain confidential treatment of any information concerning this Agreement
that such other Party requests be kept confidential, and shall only disclose Confidential Information which it is advised by counsel is legally required to be disclosed. No such notice shall be required under this Section 9.4 if the substance
of the description of or reference to this Agreement contained in the proposed filing has been included in any previous filing made by the either Party hereunder or otherwise approved by the other Party. 

9.5 Terms of this Agreement. The existence and the terms and conditions of this Agreement that the Parties have not specifically agreed to disclose
hereunder shall be considered Confidential Information of both Parties. Either Party may disclose such terms only as permitted under Section 9.3 above. 

9.6 Termination of Prior Agreements. As of the Original Effective Date, as between Roche, Genentech and Arvinas, this Agreement superseded the following
agreement between Roche and its Affiliates and Arvinas: the Mutual Confidentiality Agreement, effective as of June 12, 2014, but only insofar as it relates to the subject matter of this Agreement. All “Confidential Information” or
“Information” (as defined in such agreements) exchanged between Roche, Genentech and Arvinas thereunder relating to the subject matter of this Agreement shall be deemed Confidential Information hereunder and shall be subject to the
provisions of this Article 9. 

  

			
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 9.7 No
License. As between the Parties, Confidential Information disclosed hereunder shall remain the property of the disclosing Party. Disclosure of Confidential Information to the other Party shall not constitute any grant, option or license to the
other Party, beyond those licenses expressly granted hereunder, under any patent, trade secret or other rights now or hereinafter held by the disclosing Party. 

ARTICLE 10 
 PUBLICITY;
PUBLICATIONS; USE OF NAME 
 10.1 Releases by Arvinas. Subject to Section 10.4, Arvinas may not issue a press release or other public
statement or announcement concerning this Agreement, the subject matter hereof, or the research, development, or commercial results of products hereunder (each, a “Release”) without the prior written consent of Genentech, which
consent shall not be unreasonably withheld, conditioned or delayed. However, Arvinas shall have the right to issue Releases announcing the achievement of any post-Research Program milestone event under this Agreement in form and substance agreed to
in writing by both Parties, including a description of such event, but not including the amount of any corresponding payment or the identity of the relevant Exclusive Target. Finally, following execution of the Original Agreement, Genentech and
Arvinas issued a press release announcing the existence of the Original Agreement in form and substance agreed to in writing by both Parties, substantially similar to the form and substance in Exhibit 10.1, and following the A&R Effective
Date, Genentech and Arvinas may issue a press release announcing the existence of this Agreement in form and substance agreed to in writing by both Parties, substantially similar to the form and substance in Exhibit 10.1A. 

10.2 Releases by Genentech. Subject to Section 10.4, while a Research Program or Optimization Program for a particular Exclusive Target is on-going, Genentech may not issue a Release with regard to such Exclusive Target without Arvinas’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Once the
Research Program or, if applicable, Optimization Program for an Exclusive Target is completed, then Genentech may, without Arvinas’ consent, issue a Release with regard to such Exclusive Target; however, if such Release includes reference to
Arvinas by name, then such Release shall require Arvinas’ consent, which consent, in each case, shall not be unreasonably withheld, conditioned or delayed 

10.3 Approved Releases. If a Release requires consent pursuant to Section 10.1 or 10.2, once consent has been given both Parties may make
subsequent public disclosure of the contents of such statement without the further approval of the Party whose consent was required; provided, such content is not presented with any new data or information or conclusions and/or in a form or manner
that materially alters the subject matter therein. 
 10.4 Releases required by law or regulation. Subject to compliance with Section 10.1 and
Section 10.2, each Party may issue any Release it is required to issue by applicable law or regulation. 

  

			
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 10.5
Publications. Notwithstanding Sections 10.1 to 10.4, both Parties recognize that the publication or disclosure of papers, presentations, abstracts or any other written or oral presentations regarding results of and other information regarding
the Licensed PROTACs or Licensed Products may be beneficial to both Parties, provided that such publications or presentations are subject to reasonable controls to protect Confidential Information, the patentability of inventions and other
commercial considerations. Accordingly, the following shall apply with respect to papers and presentations proposed for disclosure by either Party: 

(a) With respect to any paper or presentation proposed for disclosure by Genentech which includes information relating to the Licensed PROTACs
or Licensed Products, so long as such paper or presentation does not contain any Confidential Information of Arvinas, Genentech shall be free to make, publish and disclose such papers and presentations at its discretion. Genentech shall acknowledge
Arvinas, as appropriate, in any publication that discloses Genentech’s use of the Licensed PROTACs or Licensed Products or the results thereof. For clarity, Genentech shall not be permitted to publish or otherwise disclose any Confidential
Information of Arvinas, except as may be expressly permitted under this Agreement; and 
 (b) With respect to any paper or presentation
proposed for disclosure by (i) Genentech which includes Confidential Information of Arvinas, or (ii) Arvinas which includes information relating to the Licensed PROTACs or Licensed Products directed to Exclusive Targets or otherwise
includes Confidential Information of Genentech (in each case, the “Publishing Party”), the other Party shall have the right to review and approve any such proposed paper or presentation (the
“Non-Publishing Party”). The Publishing Party shall submit to the Non-Publishing Party the proposed publication or presentation (including, without
limitation, posters, slides, abstracts, manuscripts, marketing materials and written descriptions of oral presentations) at least [**] prior to the date of submission for publication or the date of presentation, whichever is earlier, of any of such
submitted materials. The Non-Publishing Party shall review such submitted materials and respond to the Publishing Party as soon as reasonably possible, but in any case within [**] for abstracts) of receipt
thereof. As requested by the Non-Publishing Party, the Publishing Party shall (a) delete from such proposed publication or presentation any Confidential Information of the
Non-Publishing Party, (b) delay the date of such submission for publication or the date of such presentation for a period of time sufficiently long (but in no event longer than [**]) to permit the Non-Publishing Party to seek appropriate patent protection, or (c) as requested by Genentech as the Non-Publishing Party, modify such proposed publication or presentation
for patent or business reasons. Once a publication has been approved by the Non-Publishing Party, the Publishing Party may make subsequent public disclosure of the contents of such publication without the
further approval of the Non-Publishing Party; provided, such content is not presented with any new data or information or conclusions and/or in a form or manner that materially alters the subject matter
therein. Notwithstanding the foregoing, Arvinas shall not submit for publication or presentation any paper or presentation that includes information relating to any Licensed PROTACs or Licensed Products that contain a Genentech Compound without the
prior written consent of Genentech. 
 10.6 No Right to Use Names. Except as expressly provided herein, no right, express or implied, is granted by
this Agreement to use in any manner the name of “Arvinas”, “Genentech”, “Roche” or any other trade name, symbol, logo or trademark of the other Party in connection with the performance of this Agreement and no Party
shall use the name, trademark, trade name or logo of the other Party, its Affiliates or their respective employee(s) in any publicity, promotion, news release or disclosure relating to this Agreement or its subject matter, without the prior express
written permission of the other Party. 

  

			
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ARTICLE 11 

REPRESENTATIONS AND WARRANTIES 
 11.1
Mutual Representations and Warranties. Each Party represents and warrants to the other Party that as of the Original Effective Date, with regard to the Original Agreement, and again as of the A&R Effective Date, with regard to this
Agreement: 
 (a) it is validly organized under the laws of its jurisdiction of incorporation; 

(b) it has obtained all necessary consents, approvals and authorizations of all governmental authorities and other Persons required to be
obtained by it in connection with this Agreement; 
 (c) the execution, delivery and performance of this Agreement have been duly authorized
by all necessary corporate action on its part; 
 (d) it has the legal right and power to enter into this Agreement and to fully perform its
obligations hereunder, including the legal right and power to extend the rights and licenses granted under Article 3; 
 (e) the performance
of its obligations will not conflict with such Party’s charter documents or any agreement, contract or other arrangement to which such Party is a party; and 

(f) it follows reasonable commercial practices common in the industry to protect its proprietary and confidential information. 

11.2 Arvinas Additional Representations and Warranties and Covenants. Arvinas also represents and warrants and covenants to Genentech that: 

(a) Title. As of the Original Effective Date and as of the A&R Effective Date, Arvinas owns the entire right, title and interest in,
or otherwise has the right to grant the licenses and rights granted to Licensee hereunder, the Arvinas Intellectual Property and Other Arvinas Technology (including the Patents listed on Exhibit 1.11.2 attached hereto), and Arvinas has not
previously granted any right, license or interest in or to the Arvinas Intellectual Property or Other Arvinas Technology, or any portion thereof, in conflict with the grant of such licenses and rights to Licensee hereunder and will not, during the
Term, grant any right, license or interest in or to the Arvinas Intellectual Property (including any Deliverables New Intellectual Property or Joint New Intellectual Property) or Other Arvinas Technology that are in conflict with the grant of such
licenses and rights to Licensee hereunder; 

  

			
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(b) No Liens. As of the Original Effective Date and as of the A&R Effective Date, the Arvinas Intellectual Property and Other
Arvinas Technology is free and clear of all liens, claims, security interests or other encumbrances of any kind that would interfere, or the exercise of which would interfere, with Licensee exercising the licenses or rights granted hereunder, except
for liens, charges and encumbrances imposed under that certain (a) Loan Agreement by Connecticut Innovations, Incorporated (“CII”) and Arvinas dated as of August 20, 2013 and that certain Security Agreement between CII and
Arvinas dated as of August 20, 2013 that was entered into in connection with such Loan Agreement and (b) Assistance Agreement by and between the State of Connecticut acting by the Department of Economic and Community Development (the
“DECD”) and Arvinas dated January 24, 2014 and that certain Security Agreement by and between Arvinas and the DECD dated as of January 24, 2014 that was entered into in connection with such Assistance Agreement
(collectively, the “Existing Liens”); 
 (c) Non-Infringement of Arvinas
Patents. Except as disclosed to Genentech’s counsel prior to the Original Effective Date in writing, as of the Original Effective Date, and except as disclosed to Genentech’s counsel prior to the A&R Effective Date in writing, as
of the A&R Effective Date, no executive officer of Arvinas has any knowledge of any activities by Third Parties that Arvinas believes constitute infringement of any claims of the Arvinas Patents (and in the case of pending Patent applications,
the claims of such applications as if any such pending claims were issued); 
 (d)
Non-Infringement of Third Party Patents. As of the Original Effective Date and as of the A&R Effective Date, to Arvinas’s knowledge, the development, manufacture, use, or sale or other
commercialization of Licensed PROTACs and Licensed Products, to the extent based on the components thereof other than the Target Binding Moiety, do not infringe, and the Arvinas Patents are not dominated by, any claim of an issued Patent owned by a
Third Party and not Controlled by Arvinas that has not otherwise been held by a court of competent jurisdiction to be invalid or unenforceable, or any published claim of a Patent application owned by a Third Party, if such published claim were to
issue; 
 (e) No Other Third Party IP Claims. As of the Original Effective Date and as of the A&R Effective Date, Arvinas has not
received any written notice, claim or demand of any Third Party that the development, manufacture, use, or sale or other commercialization of Licensed PROTACs or Licensed Products misappropriates or otherwise violates the intellectual property
rights of such Third Party; 
 (f) Validity and Enforceability. As of the Original Effective Date and as of the A&R Effective
Date, (i) to Arvinas’s knowledge, all issued Arvinas Patents are valid and enforceable; (ii) none of the Arvinas Patents are subject to any pending or, to Arvinas’s knowledge, threatened,
re-examination, opposition, interference or litigation proceedings; and (iii) to Arvinas’s knowledge, there are no acts or omissions of Arvinas that would (A) constitute inequitable conduct,
fraud or misrepresentation with respect to any Patent application included within Arvinas Patents, or (B) render any Patent within the Arvinas Patents invalid or unenforceable in whole or in part; 

(g) No Other Actions. As of the Original Effective Date and as of the A&R Effective Date, it has no knowledge of any threatened or
pending actions, lawsuits, claims or arbitration proceedings in any way relating to the Arvinas Intellectual Property or Licensed PROTACs or Licensed Products; provided, however, that nothing in this Section 11.2(g) shall be interpreted as
requiring Arvinas to have undertaken any inquiries or to have obtained any freedom to operate opinion; 

  

			
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(h) Third Party Agreements. As of the Original Effective Date and as of the A&R Effective Date, other than those agreements listed
on Exhibit 11.2(h) (collectively, “Existing Third Party Agreements”), there are no agreements between Arvinas or its Affiliates with any Third Parties (i) pursuant to which Arvinas or its Affiliate has
obtained, or has a right to obtain, a license under the Arvinas Intellectual Property that is relevant to this Agreement or (ii) pursuant to which Arvinas or its Affiliate otherwise owes, or would otherwise owe, payments to a Third Party as a
result of the activities conducted hereunder (whether by Arvinas or Genentech or their respective (sub)licensees), including the grant of rights and licenses under the Arvinas Intellectual Property to Licensee; 

(i) Existing Third Party Agreements and Existing Liens. (i) As of the Original Effective Date and as of the A&R Effective Date,
Arvinas has provided Genentech complete and correct copies of the Existing Third Party Agreements and Existing Liens (as redacted to remove financial information) as the same is in effect; (ii) as of the Original Effective Date and as of the
A&R Effective Date, each Existing Third Party Agreement and Existing Lien is in full force and effect; (iii) during the Term, Arvinas shall use commercially reasonable efforts to maintain such Existing Third Party Agreement and Existing
Lien in full force and effect, in each case in accordance with its terms and conditions, but subject to Arvinas’ rights to terminate, amend, waive or otherwise modify any such agreement as provided in subclause (j) below; (iv) as of the
Original Effective Date and as of the A&R Effective Date, no written notice of default or termination has been received or given by Arvinas under any Existing Third Party Agreement or Existing Lien; and (v) as of the Original Effective Date
and as of the A&R Effective Date, to Arvinas’ knowledge, there is no act or omission by Arvinas that would provide a right to terminate any Existing Third Party Agreement or right to foreclose on any Existing Lien; 

(j) Maintenance and Enforcement of Existing Third Party Agreements and Existing Liens. During the Term, Arvinas shall not terminate,
amend, waive or otherwise modify (or provide consent with respect to any termination, amendment, waiver or modification of) the rights under any Existing Third Party Agreement or Existing Lien in any manner that materially diminishes the licenses or
rights granted to Licensee hereunder, materially impairs Licensee’s ability to perform its obligations hereunder or otherwise materially adversely affects, or is likely to materially adversely affect, Licensee’s rights hereunder; in all
cases, without the prior consent of Genentech (which consent shall not be unreasonably withheld or delayed). 
 In the event of any notice of breach by
Arvinas or its Affiliates, as applicable, given under the provisions of any Existing Third Party Agreement or Existing Lien, Arvinas shall immediately notify Licensee in writing and if Arvinas fails to cure such breach, Licensee shall have the
right, but not the obligation, to cure such breach on behalf of Arvinas or its Affiliates, as applicable, and to offset any reasonable amounts incurred or paid by Licensee in connection with the cure of such breach against any amounts otherwise
payable by Licensee to Arvinas under this Agreement until fully offset. In the event Arvinas receives notice of any breach by the other party of the applicable Existing Third Party Agreement or Existing Lien in a manner that will or is likely to
materially adversely affect Licensee’s rights or obligations under this Agreement, Arvinas shall immediately notify Licensee in writing, and Arvinas shall use commercially reasonable efforts to take such actions as reasonably requested by
Genentech to enforce such Existing Third Party Agreement. 

  

			
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 Without limiting
the foregoing, in the event an Existing Third Party Agreement terminates during the Term, any sublicense(s) granted from Arvinas to Licensee under any such Existing Third Party Agreement hereunder shall survive and any amounts that Licensee shall
pay to such Third Party under such sublicense(s) for activities performed in accordance with this Agreement may be offset against any and all amounts otherwise payable by Licensee to Arvinas hereunder until fully offset. Specifically, with respect
to the Yale Agreement, any and all sublicense(s) granted from Arvinas to Licensee under the Yale Agreement hereunder shall survive termination of the Yale Agreement and shall continue in full force and effect as a direct license from Yale to
Licensee under terms and conditions consistent with the terms and conditions of this Agreement that are applicable to the Yale Agreement, except that (i) Yale’s obligations and responsibilities shall not be materially different than its
obligations and responsibilities under the Yale Agreement; (ii) the scope of Licensee’s rights with respect to the Yale Agreement shall remain the same as set forth hereunder, provided that such rights are not in conflict with
(i) above, in which event (i) above shall prevail; and (iii) Licensee shall be responsible to Yale for payments otherwise payable to Yale by Arvinas under the Yale Agreement solely based upon the development and commercialization of
Licensed Products by Licensee, its Affiliates or Sublicensees pursuant to this Agreement and to the extent not previously paid by Arvinas (but excluding any payments based upon SUBLICENSE INCOME as set forth under Article 7.3 of the Yale Agreement).
Payments shall be made to Yale in accordance with Sections 7.3, 7.4.2, 7.7, 7.8, 7.9 and 7.11 of this Agreement, but to Yale and for the benefit of Yale, and to an account designated by Yale in writing; and any amounts that Licensee shall pay to
Yale under such direct license may be offset against any and all amounts otherwise payable by Licensee to Arvinas hereunder until fully offset. 
 For
clarity, any sublicense from Yale that continues after termination of this Agreement pursuant to this subsection (j) shall continue during the negotiation of the terms and conditions of a direct license as contemplated in the above between Yale
and the relevant Licensee, and Licensee’s obligations and responsibilities under any such direct license shall not be materially different than its obligations and responsibilities under this Agreement, provided that Licensee shall be
responsible for a prorata share (based on the number of other licensees under the LICENSED PATENTS (as defined in the Yale Agreement) obligated to make such payments) of the license maintenance royalty due under Article 5.2 of the Yale Agreement and
of patent expenses due under Article 10 of the Yale Agreement to the extent not previously paid by Arvinas. 
 11.3 Licensee Additional Representations
and Warranties and Covenants. Licensee also represents and warrants and covenants to Arvinas that: 
 (a) it has the legal right and
power to extend the rights and licenses granted to Arvinas hereunder; and 
 (b) it will not grant, during the Term, any right, license or
interest in or to the Joint New Intellectual Property or Grantback Patents, or any portion thereof, in conflict with the licenses and rights granted to Arvinas herein. 

  

			
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 11.4
Disclaimers. EXCEPT AS OTHERWISE EXPRESSLY STATED IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY OF ANY KIND WITH RESPECT TO PATENTS, KNOW-HOW, MATERIALS OR CONFIDENTIAL
INFORMATION SUPPLIED BY IT TO THE OTHER PARTY HEREUNDER, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND
NON-INFRINGEMENT. 
 ARTICLE 12 

INDEMNIFICATION 
 12.1 Indemnification by
Licensee. Subject to Section 12.3, Licensee agrees to defend Arvinas, its Affiliates and their respective directors, officers, employees and agents (collectively, the “Arvinas Indemnitees”), and shall indemnify and hold
harmless the Arvinas Indemnitees, from and against any liabilities, losses, costs, damages, fees or expenses payable to a Third Party, and reasonable attorney’s fees and other legal expenses with respect thereto arising out of any claim,
action, lawsuit, or other proceeding (collectively, “Losses and Claims”) brought against any Arvinas Indemnitee by a Third Party resulting from: (a) the manufacture, use, handling, storage, sale or other disposition of any
Licensed PROTAC or Licensed Product in the Field in the Territory by Licensee, its Affiliates or Sublicensees, including product liability claims, (b) any breach by Licensee of any of its representations, warranties or obligations under this
Agreement or breach by Licensee, prior to the A&R Effective Date, of any of its representations, warranties or obligations under the Original Agreement, or (c) the gross negligence or willful misconduct of Licensee or its Affiliates or
Sublicensees; except in any such case to the extent such Losses and Claims result from: (i) the gross negligence or willful misconduct of any Arvinas Indemnitee, or (ii) any breach by Arvinas of any of its representations,
warranties or obligations pursuant to this Agreement. 
 12.2 Indemnification by Arvinas. Subject to Section 12.3, Arvinas agrees to defend
Licensee, its Affiliates and their respective directors, officers, employees and agents (collectively, the “Licensee Indemnitees”), and shall indemnify and hold harmless the Licensee Indemnitees, from and against any Losses
and Claims brought against any Licensee Indemnitee by a Third Party resulting from: (a) the performance by Arvinas, its Affiliates or its subcontractors of its activities under a Research Program or under an Optimization Program, (b) the
manufacture, use, handling, storage, sale or other disposition of any Grantback Product by Arvinas, its Affiliates or (sub)licensees, including product liability claims, (c) any breach by Arvinas of any of its representations, warranties or
obligations under this Agreement or breach by Arvinas, prior to the A&R Effective Date, of any of its representations, warranties or obligations under the Original Agreement, or (d) the gross negligence or willful misconduct of any Arvinas
Indemnitee. 
 12.3 Procedure. If any Arvinas Indemnitee or Licensee Indemnitee (each, an “Indemnitee”) intends to claim
indemnification under this Article 12, the Indemnitee shall promptly notify the other Party (the “Indemnitor”) of any Losses and Claims for which the Indemnitee intends to claim such indemnification, and the Indemnitor shall assume
the defense thereof with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee. Any Indemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the Indemnitee (and, for clarity, not to
be included in Losses and Claims); provided, however, if the Indemnitee shall have reasonably concluded, based upon a written opinion from outside legal counsel, that there is a conflict of interest between the Indemnitor and the Indemnitee in the
defense of such action, then the Indemnitor shall pay the fees and expenses of one law firm serving as counsel for the Indemnitee and Indemnitor in relation to such Third Party Claim. 

  

			
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 The Indemnitor
shall have the right to settle or compromise any claims for which it is providing indemnification under this Article 12, provided that the consent of the Indemnitee (which shall not be unreasonably withheld or delayed) shall be required in the event
any such settlement or compromise would adversely affect the interests of the Indemnitee. The indemnity agreement in this Article 12 shall not apply to amounts paid in settlement of any loss, claim, damage, liability or action if such settlement is
effected without the consent of the Indemnitor. The failure to deliver notice to the Indemnitor within a reasonable time after the commencement of any such action, if prejudicial to the Indemnitor’s ability to defend such action, shall relieve
such Indemnitor of any liability to the Indemnitee under this Article 12, but the omission so to deliver notice to the Indemnitor shall not relieve it of any liability that it may have to any Indemnitee otherwise under this Article 12. The
Indemnitee under this Article 12, its employees and agents, shall cooperate fully with the Indemnitor and its legal representatives in the investigation of any action, claim or liability covered by this indemnification. It is understood that only
Genentech, Roche (if a Licensee) and Arvinas may claim indemnity under this Agreement (on its own behalf or on behalf of its Indemnitees), and other Indemnitees may not directly claim indemnity hereunder. 

12.4 Insurance. 
 12.4.1 Insurance
Coverage. Subject to Section 12.4.4, each Party shall obtain and maintain comprehensive general liability insurance customary in the industry for companies of similar size conducting similar business. 

12.4.2 Evidence of Insurance. Within [**] of signing this Agreement, each Party shall provide the other Party with its certificate of
insurance evidencing the insurance coverage set forth Section 12.4.1. Each Party shall provide to the other Party at least [**] prior written notice of any cancellation, non-renewal or material change in
any of such insurance coverage. 
 12.4.3 Product / Clinical Trial Liability Insurance: Commencing not later than [**] prior to the
first use in humans of the first Licensed Product by Licensee or any of its Affiliates or Sublicensees, Licensee or its relevant Affiliate shall have and maintain such type and amounts of Products / Clinical Trial Liability insurance covering the
development, manufacture, use and sale of Licensed Products as is normal and customary in the industry generally for parties similarly situated, but, in any event, with a minimum combined single limit per occurrence for products / clinical trials
liability as follows: (a) a minimum limit of [**] dollars ($[**]) for any period during which Licensee or any of its Sublicensees is conducting a clinical trial(s) with any Licensed Product(s); and (b) a minimum limit of [**] dollars
($[**]) for any period during which Licensee or any of its Sublicensees is selling any Licensed Product(s). Each of the above insurance policies shall be primary insurance. 

  

			
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12.4.4 Election to Self-Insure. In the event that either Party is an entity which, together with its Affiliates, has worldwide revenues
from pharmaceutical sales in excess of [**] U.S. dollars (US$[**]) per year, the obligations set forth in Section 12.4.3 (in respect of Licensee only) and Section 12.4.1 above shall not apply with respect to such Party, if such Party
notifies the other Party in writing that it elects to provide coverage through a commercially reasonable program of self-insurance; provided, however, that the obligations set forth in Section 12.4.3 (in respect of Licensee only) and
Section 12.4.1 above shall resume with respect to such Party and its Affiliates, or successor-in-interest and its Affiliates, if such program of self-insurance is
terminated or discontinued for any reason and provided such program of self-insurance shall respond to any claims in the same manner as would commercial insurance written with commercially reasonable coverage terms for a pharmaceutical company of
similar size and similarly situated as such Party. 
 12.5 Limitation of Damages. NEITHER PARTY HERETO WILL BE LIABLE FOR INDIRECT, INCIDENTAL,
CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES, INCLUDING LOST PROFITS, ARISING FROM OR RELATING TO THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH DAMAGES, EXCEPT IN RESPECT OF ANY BREACH OF A PARTY’S OBLIGATIONS UNDER ARTICLE 9 OR
INDEMNIFICATION OBLIGATIONS UNDER THIS ARTICLE 12 FOR CLAIMS OF THIRD PARTIES OR FRAUD, WILLFUL MISCONDUCT, RECKLESSNESS OR GROSS NEGLIGENCE OF A PARTY. 

ARTICLE 13 
 TERM;
TERMINATION 
 13.1 Term. The term of this Agreement (the “Term”) shall commence on the Original Effective Date and, unless
sooner terminated as provided in this Article 13, shall continue in full force and effect until there is no remaining royalty payment or other payment obligation with respect to any Licensed Product under this Agreement. 

13.2 Termination by Either Party for Material Breach. Either Party may terminate this Agreement, with respect to a particular Exclusive Target, or in
its entirety, by written notice to the other Party for any material breach of this Agreement, with respect to such Exclusive Target, or in its entirety, respectively, by the other Party if, in the case of remediable breach, such material breach is
not cured within [**] for payment defaults) after the breaching Party receives written notice of such breach from the non-breaching Party; provided, that if such breach is not capable of being cured within
such [**] period, the cure period shall be extended for such amount of time that the Parties may agree in writing is reasonably necessary to cure such breach, so long as (1) the breaching Party is making diligent efforts to do so, and
(2) the Parties agree on an extension within such [**] period. Notwithstanding anything to the contrary herein, if the allegedly breaching Party in good faith either disputes (i) whether a breach is material or has occurred or
(ii) the alleged failure to cure or remedy such material breach, and provides written notice of that dispute to the other Party within the above time periods, then the matter will be addressed under the dispute resolution provisions in Article
14, and the notifying Party may not so terminate this Agreement until it has been determined under Article 14 that the allegedly breaching Party is in material breach of this Agreement, and such breaching Party further fails to cure such breach
within [**] (or such longer period as determined by the arbiter of such dispute resolution) after the conclusion of that dispute resolution procedure. 

  

			
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 Notwithstanding
the foregoing, if Arvinas has the right to terminate this Agreement pursuant to this Section 13.2 due to a material breach by Licensee, and if such breach relates solely to a given Exclusive Target and/or the related Licensed Product, Arvinas
may only terminate this Agreement with respect to such Exclusive Target and Arvinas may not terminate this Agreement in its entirety. 
 13.3 Termination
by Either Party for Insolvency or Bankruptcy. Either Party may terminate this Agreement effective on written notice to the other Party upon the liquidation, dissolution, winding-up, insolvency, bankruptcy,
or filing of any petition therefor, appointment of a receiver, custodian or trustee, or any other similar proceeding, by or of the other Party where such petition, appointment or similar proceeding is not dismissed or vacated within ninety (90)
calendar days. All rights and licenses granted pursuant to this Agreement are, for purposes of Section 365(n) of Title 11 of the United States Code or any foreign equivalents thereof (as used in this Section 13.3,
“Title 11”), licenses of rights to “intellectual property” as defined in Title 11. Each Party in its capacity as a licensor hereunder agrees that, in the event of the commencement of bankruptcy
proceedings by or against such bankrupt Party under Title 11, (a) the other Party, in its capacity as a licensee of rights under this Agreement, shall retain and may fully exercise all of such licensed rights under this Agreement
(including as provided in this Section 13.3) and all of its rights and elections under Title 11 and (b) the other Party shall be entitled to a complete duplicate of all embodiments of such intellectual property, and such embodiments,
if not already in its possession, shall be promptly delivered to the other Party (i) upon any such commencement of a bankruptcy proceeding, unless the bankrupt Party elects to continue to perform all of its obligations under this Agreement, or
(ii) if not delivered under (i), immediately upon the rejection of this Agreement by or on behalf of the bankrupt Party. 
 13.4 Permissive
Termination. Licensee shall also have the right to permissively terminate this Agreement with respect to a particular Exclusive Target, or in its entirety, in its sole discretion, at any time by providing written notice to Arvinas, such
termination to be effective sixty (60) days after such notice. Upon any termination made pursuant to or in accordance with this Section 13.4, such Target shall no longer be designated as an “Exclusive Target”, and all rights and
obligations of the Parties under this Agreement with respect to such Target shall terminate, except as provided under Sections 2.6 and 13.5, as applicable. 

13.5 Effects of Termination. 

13.5.1 Effects of Termination in General. 

(a) Accrued Rights and Obligations. Expiration or termination of this Agreement, with respect to a particular Exclusive Target, or in
its entirety, for any reason shall not release either Party hereto from any liability which, as of the effective date of such expiration or termination, had already accrued to the other Party or which is attributable to a period prior to such
termination, nor preclude either Party from pursuing any rights and remedies it may have hereunder or at law or in equity which accrued or are based upon any event occurring prior to the effective date of such expiration or termination. 

(b) Termination of Licenses. Upon termination of this Agreement: 

  

			
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(i) with respect to a particular Exclusive Target or in its entirety (x) by Arvinas pursuant to Section 13.2 or Section 13.3,
or (y) by Licensee pursuant to Section 13.4, any relevant Research Term(s) and Optimization Term(s) shall terminate and all licenses under this Agreement (other than as set forth in Section 13.5.2) with respect to such Exclusive
Target and related Licensed Products, or with respect to all Exclusive Targets and all Licensed Products, as applicable, shall terminate, as of the effective date of such termination; and 

(ii) with respect to a particular Exclusive Target or in its entirety by Licensee pursuant to Section 13.2 or Section 13.3, any
relevant Research Term(s) and Optimization Term(s) shall terminate and all licenses under this Agreement (other than as set forth in Section 13.5.2) with respect to such Exclusive Target and related Licensed Products, or with respect to all
Exclusive Targets and all Licensed Products, as applicable, shall terminate, as of the effective date of such termination; provided, however, that Licensee may, with respect to any Exclusive Target for which an Option has been exercised pursuant to
Section 3.2, and if elected by Licensee in writing prior to such termination date, retain its license under Section 3.3 with respect to the relevant Exclusive Target, Licensed PROTACs and Licensed Products in accordance with the terms of
this Agreement. If Licensee so elects to retain its license with respect to the relevant Exclusive Target under this Section 13.5.1(b)(ii), then [**]. For clarity, nothing in the foregoing shall preclude any other rights or remedies available
to Licensee under this Agreement or at law or in equity against Arvinas for the breach that gave rise to a termination by Licensee pursuant to Section 13.2. 

(c) Continuation of Sublicenses. Upon termination by Arvinas of this Agreement with respect to a particular Exclusive Target or in its
entirety pursuant to Section 13.2, all relevant sublicenses with respect to such Exclusive Target and related Licensed Products, or with respect to all Exclusive Targets and all Licensed Products, as applicable, shall also terminate; provided,
however, that if the relevant Sublicensee is not then in breach of its sublicense agreement with Licensee such that Licensee would have the right to terminate such sublicense agreement, and if the Sublicensee did not cause the breach that gave rise
to a termination by Arvinas pursuant to Section 13.2, then the relevant sublicense shall continue in full force and effect as a direct license from Arvinas to the relevant Sublicensee under terms and conditions consistent with the terms and
conditions of this Agreement that are applicable to such Sublicensee, except that (i) the scope of the relevant Sublicensee’s rights with respect to the Arvinas Intellectual Property shall remain the same as set forth in its sublicense
agreement with Licensee; and (ii) the relevant Sublicensee shall be responsible to Arvinas for payments otherwise payable to Arvinas by Licensee under this Agreement based upon the exercise by the Sublicensee of its rights under the Arvinas
Intellectual Property after such termination solely to the extent the payments become due and payable after termination of this Agreement under the payment terms herein. 

Arvinas shall enter into such direct license under terms and conditions consistent with the foregoing with the relevant Sublicensee in a timely manner;
provided that Arvinas shall not be obligated to assume any obligations under such direct license that are greater than the obligations contained within this Agreement. For clarity, any sublicense that continues after termination of this Agreement
pursuant to this Section above shall continue during the negotiation of the terms and conditions of a direct license as contemplated in this Section above between Arvinas and the relevant Sublicensee. 

  

			
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(d) Return of Confidential Information. It is understood and agreed, that each Party shall have a continuing right to use Confidential
Information of the other Party under any surviving licenses pursuant to Article 3 or Section 8.2.7. Subject to the foregoing, following expiry or any early termination of this Agreement with respect to a particular Exclusive Target or in its
entirety, the Party that has Confidential Information of the other Party shall return to the other Party or destroy (at such Party’s written request) all such Confidential Information with respect to such Exclusive Target and related Licensed
Products, or with respect to all Exclusive Targets and all Licensed Products, as applicable, in its possession as of the effective date of expiration (with the exception of one copy of such Confidential Information, which may be retained by the
legal department of the Party that received such Confidential Information to confirm compliance with the non-use and non-disclosure provisions of this Agreement), and
any Confidential Information of the other Party contained in its laboratory notebooks or databases, provided that each Party may retain and continue to use such Confidential Information of the other Party to the extent necessary to exercise
any surviving rights, licenses or obligations under this Agreement. 
 (e) Inventory at Termination. In the event that the licenses
under Section 3.3 terminate with respect to a particular Exclusive Target or all Exclusive Targets, Licensee, its Affiliates and its permitted Sublicensees shall have, for a period of [**] following such termination, the right to sell or
otherwise dispose of all inventory of the related Licensed Products directed to such Exclusive Target(s) in all countries then in its stock, subject to the applicable royalty payments due under Section 6.4 and subject to Section 6.5 of
this Agreement, and any other applicable provisions of this Agreement, and Arvinas covenants not to sue Licensee or its permitted Sublicensee for infringement under any of the Patents that were licensed by Arvinas to Licensee immediately prior to
such termination with respect to such activities conducted by Licensee or its permitted Sublicensee pursuant to this Section 13.5.1(e). 

13.5.2 Survival. Except as expressly set forth under this Article 13, upon the expiration or termination of this Agreement with respect
to a particular Exclusive Target or in its entirety, all rights and obligations of the Parties under this Agreement shall terminate with respect to such Exclusive Target and related Licensed Products or all Exclusive Targets and all Licensed
Products, as applicable. For clarity, with respect to the expiration or termination of this Agreement with respect to a particular Exclusive Target, only those rights and obligations specific to such Exclusive Target and related Licensed Products
shall terminate and other rights and obligations that are not specific to such Exclusive Target and related Licensed Products shall continue in full force and effect unless and until such rights and obligations expire or terminate in accordance with
this Agreement. In addition to any provisions specified in this Agreement as surviving under the applicable circumstances, the provisions of Articles 1, 9, 10, 12, 14, and 15 and Sections 2.4 (solely with respect to the last sentence),
2.6.1, 2.6.2, 2.6.3, 2.9, 3.5, 3.6, 4.2, 4.3, 4.5, 5.6.2 (solely with respect to the last sentence), 5.6.4(b) (solely with respect to the last sentence), 5.6.5, 6.6, 7.10, 8.1 (solely with respect to the last sentence), 8.2.1, 8.2.2 (solely with
respect to the last sentence in the event of a termination with respect to a particular Exclusive Target but not all Exclusive Targets), 8.2.4, 8.2.5, 8.2.6, 8.2.7, 8.3 (solely with respect to Joint New Intellectual Property), 8.4 (solely with
respect to Joint New Intellectual Property), 8.7, and 13.5 shall survive any termination or expiration of this Agreement, as applicable, as contemplated in accordance with the terms and conditions therein. In addition, Articles 6 and 7 shall survive
with respect to any outstanding unpaid amounts that accrued prior to any termination or expiration of this Agreement. In addition, the provisions of paragraphs 2, 4, 5, 6, and 8 of Appendix B shall survive any termination or expiration
of this Agreement, as applicable, as contemplated in accordance with the terms and conditions therein. 

  

			
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ARTICLE 14 
 DISPUTE
RESOLUTION 
 14.1 Disputes. Arvinas and Licensee recognize that a dispute, controversy or claim of any nature whatsoever arising out of or
relating to this Agreement, or the breach, termination or invalidity thereof, (each, a “Dispute”) may from time to time arise during the Term. Unless otherwise specifically recited in this Agreement, such Disputes between Arvinas
and Licensee will be resolved as recited in this Article 14. In the event of the occurrence of such a Dispute, the Parties shall first refer such Dispute to their respective Alliance Managers for attempted resolution by such Alliance Managers within
[**] after such referral. If such Dispute is not resolved within such [**] period, either Arvinas and Licensee may, by written notice to the other, have such Dispute referred to their respective officers designated below, or their respective
designees, for attempted resolution by within [**] after such notice is received. Such designated officers are as follows: 
 For Licensee
– [**] 
 For Arvinas – [**]  

In the event the designated officers, or their respective designees, are not able to resolve such dispute within [**] of such other Party’s receipt of
such written notice, either Party may initiate the dispute resolution procedures set forth in Section 14.2. 
 14.2 Arbitration. 

14.2.1 Rules. Except as otherwise expressly provided in this Agreement (including under Section 14.3), the Parties agree that any
Dispute not resolved internally by the Parties pursuant to Section 14.1 shall be resolved through binding arbitration conducted by the International Chamber of Commerce in accordance with the then prevailing Rules of Arbitration of the
International Chamber of Commerce (for purposes of this Article 14, the “Rules”), except as modified in this Agreement, applying the substantive law specified in Section 15.1. 

14.2.2 Arbitrators; Location. Each Party shall, within [**] of the initiation of the arbitration, select one (1) arbitrator, and
the two (2) arbitrators so selected shall choose a third arbitrator within [**] of their election. All three (3) arbitrators shall serve as neutrals and have at least ten (10) years of (a) dispute resolution experience (including
judicial experience) and/or (b) legal or business experience in the biotech or pharmaceutical industry. In any event, at least one (1) arbitrator shall satisfy the foregoing experience requirement under clause (b). If a Party fails to
nominate its arbitrator, or if the Parties’ arbitrators cannot agree on the third, the necessary appointments shall be made in accordance with the Rules. Once appointed by a Party, such Party shall have no ex parte communication with its
appointed arbitrator. The arbitration proceedings shall be conducted in New York, NY, USA. The arbitration proceedings and all pleadings and written evidence shall be in the English language. Any written evidence originally in another language shall
be submitted in English translation accompanied by the original or a true copy thereof. 

  

			
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14.2.3 Procedures; Awards. Within [**] after the designation of the arbitrators, the arbitrators and the Parties shall meet, and each
Party shall provide to the arbitrators a written summary of all disputed issues, such Party’s position on such disputed issues and such Party’s proposed ruling on the merits of each such issue. The arbitrators shall set a date for a
hearing, which shall be no later than [**] after the submission of written proposals pursuant to the preceding sentence, for the presentation of evidence and legal argument concerning each of the issues identified by the Parties. The Parties shall
have the right to be represented by counsel. Each Party agrees to use reasonable efforts to make all of its current employees available, if reasonably needed, and agrees that the arbitrators may determine any person as necessary. The arbitrators
shall be instructed and required to render a written, binding, non-appealable resolution and award on each issue that clearly states the basis upon which such resolution and award is made. The written
resolution and award shall be delivered to the Parties as expeditiously as possible, but in no event more than [**] after conclusion of the hearing, unless otherwise agreed by the Parties. Judgment upon such award may be entered in any competent
court or application may be made to any competent court for judicial acceptance of such an award and order for enforcement. Each Party agrees that, notwithstanding any provision of applicable Law or of this Agreement, it will not request, and the
arbitrators shall have no authority to award, punitive or exemplary damages against any Party. 
 14.2.4 Costs. The prevailing Party,
as determined by the arbitrators, shall be entitled to (a) its share of fees and expenses of the arbitrators and (b) its attorneys’ fees and associated costs and expenses. In determining which Party “prevailed,” the
arbitrators shall consider (i) the significance, including the financial impact, of the claims prevailed upon and (ii) the scope of claims prevailed upon, in comparison to the total scope of the claims at issue. If the arbitrators
determine that, given the scope of the arbitration, neither Party “prevailed,” the arbitrators shall order that the Parties (1) share equally the fees and expenses of the arbitrators and (2) bear their own attorneys’ fees
and associated costs and expenses. 
 14.2.5 Interim Equitable Relief. Notwithstanding anything to the contrary in this
Section 14.2, in the event that a Party reasonably requires relief on a more expedited basis than would be possible pursuant to the procedure set forth in this Article 14, such Party may seek a temporary injunction or other interim equitable
relief in a court of competent jurisdiction pending the ability of the arbitrators to review the decision under this Section 14.2. Such court shall have no jurisdiction or ability to resolve Disputes beyond the specific issue of temporary
injunction or other interim equitable relief. 
 14.2.6 Protective Orders; Arbitrability. At the request of either Party, the
arbitrators shall enter an appropriate protective order to maintain the confidentiality of information produced or exchanged in the course of the arbitration proceedings. The arbitrators shall have the power to decide all questions of arbitrability.

  

			
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 14.3 Subject
Matter Exclusions. Notwithstanding the provisions of Section 14.2, any Dispute not resolved internally by the Parties pursuant to Section 14.1 that involves the validity, enforceability, or infringement of a Patent Covering a Licensed
PROTAC or a Licensed Product (a) that is issued in the United States shall be subject to actions before the United States Patent and Trademark Office and/or submitted exclusively to the federal court located in the jurisdiction of the district where
any of the defendants resides; and (b) that is issued in any other country shall be brought before an appropriate regulatory or administrative body or court in that country, and the Parties hereby consent to the jurisdiction and venue of such
courts and bodies. In addition, notwithstanding the provisions of Sections 14.1 or 14.2, deadlocked decisions of the JRC or JPT (except with respect to JRC approval of an Exclusive Target’s initial Optimization Plan) shall be finally resolved
per Section 2.2.1(e) and 2.2.2(e), respectively. Deadlocked decisions of the JRC regarding approval of an Exclusive Target’s initial Optimization Plan is exclusively governed by Section 5.6.1. 

14.4 Continued Performance. Provided that this Agreement has not terminated, the Parties agree to continue performing under this Agreement in accordance
with its provisions, pending the final resolution of any Dispute. 
 ARTICLE 15 

MISCELLANEOUS 
 15.1 Applicable Law.
This Agreement (including the arbitration provisions of Article 14) shall be governed by and interpreted in accordance with the laws of the State of New York, USA, without reference to the principles of conflicts of laws. The United Nations
Convention on Contracts for the International Sale of Goods shall not apply to the transactions contemplated by this Agreement. 
 15.2 Notices.
Except as otherwise expressly provided in this Agreement, any notice required under this Agreement shall be in writing and shall specifically refer to this Agreement. Notices shall be sent via one of the following means and will be effective
(a) on the date of delivery, if delivered in person; (b) on the date of receipt, if sent by a facsimile (with delivery confirmed) or as a PDF attachment to an email (with response email confirming receipt); or (c) on the date of
receipt, if sent by private express courier or by first class certified mail, return receipt requested. Any notice sent via facsimile or email shall be followed by a copy of such notice by private express courier or by first class mail. Notices
shall be sent to the other Party at the addresses set forth below. For clarity, any notice to Genentech or Licensee shall be effective if given to the addresses for Licensee as set forth below. Either Party may change its addresses for purposes of
this Section 15.2 by sending written notice to the other Party. 
 If to Licensee:
                         Genentech, Inc. 

Attn: Corporate Secretary 

1 DNA Way 

South San Francisco, CA 94080 USA. 

Fax: [**] 

Phone: [**] 
 with required
copies (which shall not constitute notice) to: 
 Genentech, Inc. 

Attn: Senior Vice President, Genentech Partnering 

  

			
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                           1 DNA Way 

South San Francisco, CA 94080 USA. 

Fax: [**] 

F. Hoffmann-La Roche Ltd 

Attn: Global Head, Alliance Management and Operations 

1 DNA Way 

South San Francisco, CA 94080 USA. 

Fax: [**] 

F. Hoffmann-La Roche Ltd 

Attention: Corporate Law 

Grenzacherstrasse 124 

CH-4070 Basel, Switzerland 

Fax: [**] 

If to Arvinas:
                        Arvinas, Inc. 

Attn: President 

5 Science Park 

395 Winchester Ave. 

New Haven, CT 06511 USA 

Fax: [**] 
 15.3
Assignment. Neither Party may assign or otherwise transfer, in whole or in part, this Agreement without the prior written consent of the non-assigning Party, such approval not to be unreasonably
withheld. Notwithstanding the foregoing, either Party may assign this Agreement to (i) an Affiliate or (ii) any purchaser of all or substantially all of the assets of such Party, or of all of its capital stock, or to any successor
corporation or entity resulting from any merger or consolidation of such Party with or into such corporation or entity, provided that the party to which this Agreement is assigned expressly agrees in writing to assume and be bound by all obligations
of the assigning Party under this Agreement. A copy of such written agreement by such assignee shall be provided to the non-assigning Party within [**] of execution of such written agreement. Arvinas shall not
assign or otherwise transfer to any Affiliate or Third Party ownership (or equivalent rights) of any Arvinas Intellectual Property existing as of the Original Effective Date or during the Term, and that is subject to any Exclusive License hereunder,
unless the party to which such Arvinas Intellectual Property is assigned or otherwise transferred expressly agrees in writing to assume and be bound by all relevant terms and conditions applicable to Arvinas and such Arvinas Intellectual Property
under this Agreement. A reasonably redacted copy of any such written agreement by any such assignee or transferee shall be provided to Genentech within [**] of execution of such written agreement. Any permitted assignment or transfer in accordance
with this Section 15.3 shall be binding on the successors and assigns of the assigning Party. Any assignment or attempted assignment by either Party in violation of the terms of this Section 15.3 shall be null, void and of no legal effect.

 15.4 Independent Contractors. The Parties hereto are independent contractors and nothing contained in this Agreement shall be deemed or construed
to create a partnership, joint venture, employment, franchise, agency or fiduciary relationship between the Parties. 

  

			
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 15.5
Integration. Except to the extent expressly provided herein, this Agreement constitutes the entire agreement between the Parties relating to the subject matter of this Agreement and supersedes all previous oral and written communications
between the Parties with respect to the subject matter of this Agreement. 
 15.6 Amendment; Waiver. Except as otherwise expressly provided herein, no
alteration of or modification to this Agreement shall be effective unless made in writing and executed by an authorized representative of both Parties. No course of dealing or failing of either Party to strictly enforce any term, right or condition
of this Agreement in any instance shall be construed as a general waiver or relinquishment of such term, right or condition. The observance of any provision of this Agreement may be waived (either generally or any given instance and either
retroactively or prospectively) only with the written consent of the Party granting such waiver. 
 15.7 Further Assurances. Each Party shall and
shall use all reasonable endeavors to procure that any necessary Third Party shall promptly execute and deliver such further documents and do such further acts as may be required for the purpose of giving full effect to this Agreement. 

15.8 Severability. The Parties do not intend to violate any public policy or statutory or common law. However, if any sentence, paragraph, clause or
combination or part thereof of this Agreement is in violation of any law or is found to be otherwise unenforceable, such sentence, paragraph, clause or combination or part of the same shall be deleted and the remainder of this Agreement shall remain
binding, provided that such deletion does not alter the basic purpose and structure of this Agreement. 
 15.9 No Third Party Rights. The Parties do
not intend that any term of this Agreement should be enforceable by any person who is not a Party. 
 15.10 Construction. The Parties mutually
acknowledge that they and their attorneys have participated in the negotiation and preparation of this Agreement. Ambiguities, if any, in this Agreement shall not be construed against any Party, irrespective of which Party may be deemed to have
drafted this Agreement or authorized the ambiguous provision. 
 15.11 Interpretation. The captions and headings to this Agreement are for convenience
only, and are to be of no force or effect in construing or interpreting any of the provisions of this Agreement. Unless context otherwise clearly requires, whenever used in this Agreement: (a) the words “include” or
“including” shall be construed as incorporating “but not limited to” or “without limitation”; (b) the words “hereof,” “herein,” “hereby” and derivative or similar words refer to this
Agreement, including the Appendices and Exhibits; (c) the word “law” or “laws” means any applicable, legally binding statute, ordinance, resolution, regulation, code, guideline, rule, order, decree, judgment, injunction,
mandate or other legally binding requirement of a governmental authority (including a court, tribunal, agency, legislative body or other instrumentality of any (i) government or country or territory, (ii) any state, province, county, city
or other political subdivision thereof, or (iii) any supranational body); (d) all references to the word “will” are interchangeable with the word “shall” and shall be understood to be imperative or mandatory in nature;
(e) all references to “Sublicensees” shall include all Sublicensees of Sublicensees through multiple tiers of sublicensing; (f) the singular shall include the plural and vice versa; (g) the word “or” has the
inclusive meaning represented by the phrase “and/or” 

  

			
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except when paired as “either/or” and (h) the word “day” or “quarter” or “year” means a calendar day or calendar quarter or calendar year unless
otherwise specified. All references to days, months, quarters or years are references to calendar days, calendar months, calendar quarters, or calendar years. Whenever any matter hereunder requires consent or approval, such consent shall not be
unreasonably withheld or delayed. 
 15.12 Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an
original, but all of which together will constitute one and the same instrument. For purposes hereof, a facsimile copy, or email with attached pdf copy, of this Agreement, including the signature pages hereto, will be deemed to be an original.
Notwithstanding the foregoing, the Parties shall deliver original execution copies of this Agreement to one another as soon as practicable following execution thereof. 

[Signature page follows – the rest of this page intentionally left blank.] 

  

			
		  	88

			
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 IN WITNESS
WHEREOF, Arvinas, Genentech, and as expressly provided herein as a “Licensee” or as a “Party,” or as expressly named herein under Section 9.6, Roche have each executed this Agreement by their respective officers hereunto
duly authorized, on the A&R Effective Date. 
 ARVINAS, INC. 
  

			
	By:	 	 /s/ John Houston

			
		
	Name:	 	John Houston
		
	Title:	 	President and CEO
	
	GENENTECH, INC.

			
		
	By:	 	 /s/ Edward Harrington

			
		
	Name:	 	Edward Harrington
		
	Title:	 	CFO Genentech
	
	F. HOFFMANN-LA ROCHE LTD

			
		
	By:	 	 /s/ Dr. Melanie Wick

			
		
	Name:	 	Melanie Wick
		
	Title:	 	Authorized Signatory

			
		
	By:	 	 /s/ Franziske Bachler

			
		
	Name:	 	Dr. Franziske Bachler
		
	Title:	 	Legal Counsel

  

			
	  
 Signature page to Arvinas Genentech
A&R Option, License & Collab Agmt

			
	CONFIDENTIAL	  	EXECUTION COPY

  
  

			
		
	APPENDICES	 	
		
	Appendix A	 	Research Plan Outline
		
	Appendix B	 	Genentech Materials: Material Transfer Terms and Conditions
		
	EXHIBITS	 	
		
	Exhibit 1.11.2	 	Arvinas Patents
		
	Exhibit 1.40	 	Excluded Targets
		
	Exhibit 1.74	 	Initial Targets
		
	Exhibit 2.10.2(b)	 	Expansion Targets as of the A&R Effective Date
		
	Exhibit 10.1	 	Original Agreement Press Release
		
	Exhibit 10.1A	 	A&R Agreement Press Release
		
	Exhibit 11.2(h)	 	Existing Third Party Agreements

  

			
		  	Appendices and Exhibits TOC-i

			
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Appendix A 

Research Plan Outline 

Confidential Materials omitted and filed separately with the Securities and Exchange Commission. A total of 5 pages were omitted. [**]. 

  

			
		  	Appendix A-2

			
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APPENDIX B 

Material Transfer Terms and Conditions 

1. Genentech Materials. “Genentech Materials” means, with respect to an Exclusive Target, (a) those chemical or
biological materials, other than Genentech Compounds, provided by Genentech or Licensee to Arvinas for use (i) in the relevant Research Program pursuant to this Agreement to be used for evaluation of Stage I and Stage II activity in such
Research Program, or (ii) in the relevant Optimization Program pursuant to this Agreement, and/or (b) any modifications or derivatives of such materials in clauses (a)(i) or (ii) above. For clarity, Genentech Materials as described in
(b) above shall not include any [**]. 
 2. Use of Genentech Materials. For each Research Program or, as applicable, Optimization
Program for a particular Exclusive Target, Arvinas shall use Genentech Materials solely for the purpose of conducting the Research Program or, as applicable, Optimization Program for such Exclusive Target in accordance with the terms and conditions
of this Agreement and in compliance with all applicable laws, rules and regulations. Arvinas acknowledges that Genentech Materials are experimental in nature and may have unknown characteristics, and therefore, agrees to use prudence and reasonable
care in the use, handling, storage, transportation and disposition and containment of Genentech Materials. Upon any termination of the Research Program or, as applicable, Optimization Program for a particular Exclusive Target in accordance with the
provisions of this Agreement, Arvinas shall return or destroy (and provide written certification thereof) relevant Genentech Materials, and Arvinas shall not use any Confidential Information of Genentech regarding such Genentech Materials as
provided by Genentech in any subsequent efforts conducted by Arvinas, its Affiliates or their respective Third Party licensees with respect to such Exclusive Target (other than pursuant to an ongoing Research Program or, as applicable, Optimization
Program under this Agreement), unless and until such Confidential Information is no longer considered “confidential” under the exclusions to the confidentiality obligations under Article 9 of this Agreement. 

3. Transfer of Genentech Materials. Except as required for purposes of exercising its rights and performing its obligations under this
Agreement, Arvinas shall not sell, transfer or disclose Genentech Materials to any other Person, without first receiving the prior written consent of Genentech or, if applicable, Licensee. In any case, any transfer of Genentech Materials shall only
be to (i) persons obligated to assign to Arvinas their entire right, title and interest to Materials Inventions (as defined below) and (ii) persons who will use such Genentech Materials solely for the purpose of conducting the Research
Program or, as applicable, Optimization Program for the relevant Exclusive Target. 
 4. Ownership of Genentech Materials. Genentech
shall retain all right, title and interest in and to Genentech Materials (in part as to Genentech Materials that exist in combination with other material), and the transfer of Genentech Materials to Arvinas shall be a bailment and shall not
constitute a sale of Genentech Materials or a grant, option or license of any Patent or other rights Controlled by Genentech or, if applicable, Licensee (other than a license to Arvinas to use the Genentech Materials in the conduct of the Research
Program or, as applicable, Optimization Program for a particular Exclusive Target). 

  

			
		  	Appendix B-1

			
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5. Inventions. Without limiting Section 8.1 of the Agreement, Arvinas shall promptly disclose to Genentech or, as applicable,
Licensee any New Intellectual Property made by or on behalf of Arvinas using the Genentech Materials in the course of performing activities under the Research Program or, as applicable, Optimization Program with respect to the relevant Exclusive
Target to the extent that it relates to a modification of or improvement to such Genentech Materials (but for clarity excluding any [**]) or the use thereof (“Materials Inventions”). Arvinas agrees not to disclose any such
Materials Inventions, orally or in writing (e.g. by submission of a manuscript, abstract, patent application or other planned publication) until Genentech or, as applicable, Licensee has had [**] in which to review the intended disclosure and make
recommendations or comments. Genentech or, as applicable, Licensee agrees to maintain any such Materials Inventions disclosed to Genentech under this paragraph 5 as Confidential Information in accordance with Section 9.1 of this Agreement, and
subject to the exclusions under Section 9.2 of this Agreement, for a period of [**] from receipt of such disclosure. 
 6. License
Grant. As consideration for the receipt of Genentech Materials from Genentech, Arvinas hereby grants to Genentech and Licensee a non-exclusive, worldwide, perpetual, irrevocable, fully paid-up license, with the right to grant sublicenses, through one or more tiers of sublicensees, under any Arvinas New Intellectual Property to the extent it relates to a Materials Invention to make, have made, use,
sell, offer for sale, and import Materials Inventions. For clarity, such license does not include, by implication or otherwise, rights under any Arvinas Intellectual Property that is not a Materials Invention. 

7. No Human Use. No material transferred or made in the course of performance of a Research Program shall be (a) administered to
humans; and (b) no such material or results will be used by the Parties as stand-alone material or information for patient management, diagnostic, prognostic or other clinical purposes whatsoever. 

8. DISCLAIMER. THE GENENTECH MATERIALS PROVIDED UNDER THIS AGREEMENT ARE BEING PROVIDED “AS IS”, WITH NO WARRANTIES, EXPRESS
OR IMPLIED, AND GENENTECH EXPRESSLY DISCLAIMS ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NONINFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF ANY THIRD PARTY WITH RESPECT TO THE GENENTECH MATERIALS. 

  

			
		  	Appendix B-2

			
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Exhibit 1.11.2 

Arvinas Patents 

Confidential Materials omitted and filed separately with the Securiites and Exchange Commission. A total of 2 pages were omitted. [**] 

  

			
		  	Appendix 1.11.2-1

			
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Exhibit 1.40 

Excluded Targets 

Target                      
                          [**] 

[**] 

  

			
		  	Exhibit 1.40-1

			
	CONFIDENTIAL	  	EXECUTION COPY

  

Exhibit 1.74 

Initial Targets 

Target                      
                          [**] 

[**] 

  

			
		  	Exhibit 1.74-1

			
	CONFIDENTIAL	  	EXECUTION COPY

  

Exhibit 2.10.2(b) 

Expansion Targets as of A&R Effective Date 

Target                      
                                      [**] 

[**]                      
                                         
      

  

			
		  	Exhibit 2.10.2(b)-1

			
	CONFIDENTIAL	  	EXECUTION COPY

  

Exhibit 10.1 

Original Agreement Press Release 

Arvinas Inks Strategic License Agreement with Genentech 

Total deal value potentially worth more than $300M if initial targets are successful 

New Haven, CT, XXXX, 2015 – Arvinas, Inc. (a wholly owned subsidiary of Arvinas LLC), a private biotechnology company creating a new class of drugs based
on targeted protein degradation, entered into a license agreement with Genentech, a member of the Roche Group, for the development of new therapeutics using Arvinas’ novel PROTAC technology. The multi-year strategic license agreement
encompasses multiple disease targets. 
 Under the terms of the agreement, Arvinas will receive an undisclosed upfront payment. Arvinas is eligible to
receive development and commercialization milestone payments in excess of $300 million based on achievement of certain predetermined milestones. In addition, Arvinas is eligible to receive tiered-royalties on sales of products resulting from
the license agreement. Full financial terms have not been disclosed. At Genentech’s discretion, it may elect to expand the collaboration to include additional disease targets for additional consideration. 

“We are thrilled to be working with Genentech, a proven expert in drug discovery and development with world class ability to manufacture and
commercialize state-of-the-art therapies,” said Manuel Litchman, M.D., President and CEO of Arvinas. “Our PROTAC
technology represents a completely novel approach to the targeted therapy of cancer and many other diseases, and we are delighted to be working with Genentech on their targets of interest.” 

“Genentech has one of the premier R&D organizations in the industry and I am particularly looking forward to working with them to explore fully the
potential of our PROTAC protein degradation technology,” commented Craig Crews, Ph.D., the L.B. Cullman Professor of Molecular, Cellular, and Developmental Biology at Yale University and Arvinas Chief Scientific Advisor. 

  

			
		  	Exhibit 10.1-1

			
	CONFIDENTIAL	  	EXECUTION COPY

  
 PROTACs, or
proteolysis-targeting chimeras, are bifunctional small molecules that are designed to target proteins for degradation and removal from a cell. These molecules are intended to induce a cell’s own protein-degradation machinery to bind to a
particular protein and “label” it for degradation, thus removing that protein from the system entirely. This contrasts to a more traditional drug development approach that inhibits proteins, which provides transient benefit and works on
about a quarter of the body’s proteins. Arvinas’ approach has the potential to radically expand the number of disease-causing proteins that can be targeted. 

James Sabry, M.D., Ph.D., Senior Vice President of Global Head of Genentech Partnering, commented, “Genentech is very interested in protein degradation
as a therapeutic approach to address difficult disease targets. Arvinas’s PROTAC technology offers an exciting opportunity to harness the body’s own system to degrade pathogenic proteins.” 

About Arvinas 
 Arvinas is a pharmaceutical company
focused on developing new small molecules aimed at degrading disease-causing cellular proteins. We are translating these innovative protein degradation approaches into novel drugs for the treatment of cancer and other diseases. Many diseases are a
result of “rogue,” uncontrolled proteins, whose absence could bring great clinical benefit to patients. To address these pathological intracellular proteins, Arvinas is developing a new drug paradigm based on the elimination of these
proteins. Our innovative protein degradation technology uses small molecule drugs to ”tag” specific proteins to be degraded by the ubiquitin/proteasome system (UPS), which is responsible for the normal turnover of most proteins within the
cell. 
 Based on groundbreaking research conducted at Yale University by our Founder and Chief Scientific Advisor, Craig Crews, PhD, Arvinas has developed
a platform technology to induce the loss of intracellular proteins: Proteolysis-Targeting Chimera (PROTAC). The ability of PROTAC-based drugs to induce protein degradation (instead of protein inhibition) offers the advantage of potentially targeting
“undruggable” as well as “druggable” elements of the proteome. This greatly expands our ability to create drugs for many new, previously unapproachable targets. For more information, visit www.arvinas.com. 

Arvinas Media Contact 
 Carolyn Hawley 

carolyn@canalecomm.com 

  

			
		  	Exhibit 10.1-2

			
	CONFIDENTIAL	  	EXECUTION COPY

  

Exhibit 10.1A 

A&R Agreement Press Release 

Arvinas Expands Strategic License Agreement with Genentech 

Expansion of 2015 agreement brings total deal value to potentially exceed $650 million 

NEW HAVEN, Conn., November xx, 2017 – Arvinas LLC, a private biotechnology company creating a new class of drugs based on protein degradation, today
announced it has expanded its ongoing license agreement with Genentech, a member of the Roche Group, for the development of new therapeutics using Arvinas’ novel PROTAC technology. The multi-year strategic license agreement, initiated in
October 2015, will encompass additional disease targets and expand the collaboration. 
 Under the revised terms of the agreement, Arvinas is eligible to
receive development and commercialization milestone payments in excess of $650 million based on achievement of certain predetermined milestones. In addition, Arvinas is eligible to receive tiered-royalties on sales of products resulting from
the license agreement. Full financial terms have not been disclosed. 
 “Genentech’s decision to expand our original agreement to include
additional disease targets shows the promise seen in our first two years together and further supports our targeted protein degradation platform as a novel drug modality to treat a broad array of diseases,” said John Houston, Ph.D., President
and Chief Executive Officer of Arvinas. “This expansion also supports our initial decision to work with Genentech in 2015 and we look forward to this growing collaboration.” 

The PROTAC Platform offers potential improvements over traditional small molecule inhibitors using the ubiquitin and proteasome system within a cell to
degrade disease causing proteins. By removing target proteins directly rather than inhibiting them, PROTACs can provide multiple advantages over small molecule inhibitors, which can require high systemic exposure to achieve sufficient inhibition,
often resulting in toxic side effects and eventual drug resistance. 
 About Arvinas 

Arvinas is a pharmaceutical company focused on developing new small molecules – known as PROTACs (PROteolysis TArgeting Chimeras) – aimed at
degrading disease-causing cellular proteins via proteolysis. Based on innovative research conducted at Yale University by Dr. Craig Crews, Founder and Chief Scientific Advisor, the company is translating natural protein degradation approaches
into novel drugs for the treatment of cancer and other diseases. The proprietary PROTAC-based drug paradigm induces protein degradation, rather than protein inhibition, facilitating the ubiquitin proteasome

  

			
		  	Exhibit 10.1A-1

			
	CONFIDENTIAL	  	EXECUTION COPY

  
 
system and offers the advantage of potentially targeting “undruggable” as well as “druggable” elements of the proteome. This greatly expands the ability to create drugs for
many new, previously unapproachable targets. For more information, visit www.arvinas.com. 
 CONTACT: 

Arvinas Media Contact 
 Ian Stone 

ian@canalecomm.com 
 619-849-5388 
 Arvinas Investor Contact 

Beth DelGiacco 
 Beth@SternIR.com 

212-362-1200 

  

			
		  	Exhibit 10.1A-2

			
	CONFIDENTIAL	  	EXECUTION COPY

  

Exhibit 11.2(h) 

Existing Third Party Agreements 
 1. Yale
Agreement (as defined in the Agreement) 

  

			
		  	Exhibit 11.2(h)-1

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