Document:

Amended and Restated License Agreement

	/**/	= Portions of this exhibit are subject to a request for confidential treatment and have been redacted and filed separately with the Securities and Exchange Commission.

 Exhibit 10.13 
 AMENDED AND RESTATED LICENSE AGREEMENT 
 THIS AGREEMENT is effective as
of the 1st day of July, 2005 (the “Effective Date”), between INSERT
THERAPEUTICS, INC., 2585 Nina Street, Pasadena, CA 91107 (“Licensor”) and Calando Pharmaceuticals (“Licensee”), a corporation having a place of business at 1710 Flower Avenue, Suite
100, Duarte, Ca 91010. 
 RECITALS 
 A. Licensee and Licensor have entered into a License Agreement, dated as of March 14, 2005 (the “Original License”); 
 B. The Original License [**]. 
 C. Licensor is desirous of modifying the Original License to provide for [**]. 
 NOW, THEREFORE, in consideration of the transfer by Licensor to Licensee of 480,000 shares of
Licensee common stock, the receipt of which is hereby acknowledged, the parties agree to amend and restate the Original License in its entirety to read as follows: 
 ARTICLE 1 
 DEFINITIONS 
 1.1 “Affiliate” means any corporation, limited liability company or other legal entity which directly or indirectly controls, is
controlled by, or is under common control with Licensee as of the Effective Date of this Agreement. For the purpose of this Agreement, “control” shall mean the direct or indirect ownership of greater than 50 percent (>50%) of the
outstanding shares on a fully diluted basis or other voting rights of the subject entity to elect directors, or if not meeting the preceding, any entity owned or controlled by or owning or controlling at the maximum control or ownership right
permitted in the country where such entity exists. In addition, a party’s status as an Affiliate of License shall terminate if and when such control ceases to exist. 
 1.2 “Exclusively Licensed Patent Rights” means Licensor’s rights under: (a) all patents and patent applications listed in
Exhibit A attached hereto; (b) any patents issuing 

 therefrom; and (c) any patents or patent applications claiming a right of priority thereto (including reissues,
reexaminations, renewals, extensions, divisionals, continuations, continued prosecution applications, continuations-in-part and foreign counterparts of any of the foregoing). 
 1.3 “Technology” means all inventions, proprietary information, know-how, procedures, methods, prototypes, and designs owned or
controlled by Licensor that exist as of the Effective Date or are developed thereafter during the term of this Agreement and which in each case are invented or created in the course of performing activities specifically directed to the research,
discovery, analysis, characterization, optimization, development, manufacture, use or sale of compounds covered by, or made by a process covered by, any Valid Claim, that are necessary or convenient for the Licensee to develop, make, have made, use,
import, offer to sell and sell Licensed Products. 
 1.4 “Licensor Technology” means the Exclusively Licensed Patent Rights,
Improvement Patent Rights and the Technology. 
 1.5 “Deductible Expenses” means the following expenses incurred in
connection with sales or licensing of Licensed Products to the extent actually paid by Licensee or an Affiliate in accordance with generally recognized principles of accounting: (a) sales, use or turnover taxes; (b) excise, value added or
other, taxes or custom duties; (c) transportation, freight, and handling charges, and insurance on shipments to customers; (d) trade, cash or quantity discounts or rebates to the extent actually granted; (e) agent fees or commissions;
and (f) rebates, refunds, and credits for any rejected or returned Licensed Products or because of retroactive price reductions, or rebates. 
 1.6 “Effective Date” has the meaning set forth in the preamble. 
 1.7 “Field” means the
discovery, development, and commercialization of RNAi Therapeutics. The term “RNAi Therapeutic” refers to small interfering RNAs (siRNAs), hairpin RNAs or other nucleic acids or analogs thereof that are substrates of the enzyme Dicer
and/or associates with intracellular proteins to form an assembly known as a RNA-induced silencing complex (“RISC”), and which causes sequence dependent gene silencing. RNAi Therapeutic also includes expression vectors capable of giving
rise to transcripts which form siRNA, hairpin 
  

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 RNAs or other RNA species that are substrates of the enzyme Dicer, and which can cause sequence dependent gene silencing.

 1.7 “Improvement Patent Rights” means either Licensor’s or License’s rights, as the case may be, under:
(a) all patents and patent applications with claims directed to Improvements; (b) any patents issuing therefrom; and (c) any patents or patent applications claiming a right of priority thereto (including reissues, reexaminations,
renewals, extensions, divisionals, continuations, continued prosecution applications, continuations-in-part and foreign counterparts of any of the foregoing). 
 1.8 “Improvements” means any future invention that is (a) conceived and reduced to practice or otherwise developed by either Licensor or Licensee, as the case may be, and its employees or third
parties working on its behalf, to the extent such inventions are owned and controlled by either Licensor or Licensee, as the case may be, and (b) dominated by a Valid Claim under Exclusively Licensed Patent Rights. 
 1.9 “Licensed Product” means any product, device, system, article of manufacture, composition of matter, or process or service that is
covered by, or is made by a process covered by, any Valid Claim or that utilizes Technology in material part. 
 1.10 “Net
Revenues” means all amounts, less Deductible Expenses, received by Licensee and/or its Affiliates from the sale or other distribution (whether commercial or not) of Licensed Products or the licensing of Exclusively Licensed Patent Rights.
Any non-cash consideration received by Licensee for the sale or other distribution of Licensed Products or the licensing of Exclusively Licensed Patent Rights will be converted to a cash value based on the fair market value or a value mutually
agreed upon. 
 1.11 “Valid Claim” means: 
 (a) a claim of an issued patent within the Exclusively Licensed Patent Rights or Improvement Patent Rights that has not: 
 (i) expired or been canceled, 
  

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 (ii) been finally adjudicated to be invalid or unenforceable by a decision of a court or
other appropriate body of competent jurisdiction (and from which no appeal is or can be taken), 
 (iii) been admitted to be
invalid or unenforceable through reissue, disclaimer or otherwise, or 
 (iv) been abandoned in accordance with or as
permitted by the terms of this Agreement or by mutual written agreement; or 
 (b) a claim included in a pending patent application within
the Exclusively Licensed Patent Rights or Improvement Patent Rights, which claim is being actively prosecuted in accordance with this Agreement and which has not been: 
 (i) canceled, 
 (ii) withdrawn from consideration, 
 (iii) finally determined to be unallowable by the applicable governmental
authority (and from which no appeal is or can be taken), or 
 (iv) abandoned in accordance with or as permitted by the terms
of this Agreement or by mutual written agreement. 
 ARTICLE 2 
 LICENSE GRANT 
 2.1 Grant of Rights by Licensor. Licensor hereby
grants to Licensee the following licenses: 
 (a) an exclusive, royalty bearing license under the Exclusively Licensed Patent Rights and the
Improvement Patent Rights owned or controlled by Licensor to make, have made, import, use, sell, and offer for sale Licensed Products in the Field throughout the world; and 
  

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 (b) a nonexclusive, royalty bearing license under the Technology to make, have made, import, use, sell,
offer for sale, reproduce, distribute, display, perform, create derivative works of, and otherwise exploit Licensed Products in the Field throughout the world. 
 These licenses are personal to and nontransferable by Licensee, except as provided in Section 14.9. 
 Rights not explicitly granted herein are reserved by Licensor. 
 2.2 Grant of Rights by Licensee to Certain Improvements.
Licensee hereby grants to Licensor the following licenses: 
 (a) an exclusive, fully paid, non-royalty bearing license under the
Improvement Patent Rights owned or controlled by Licensee to make, have made, import, use, sell, and offer for sale Licensed Products outside of the Field throughout the world; and 
 (b) a nonexclusive, fully paid, non-royalty bearing license under the Technology to make, have made, import, use, sell, offer for sale, reproduce,
distribute, display, perform, create derivative works of, and otherwise exploit Licensed Products outside of the Field throughout the world. 
 Rights not explicitly granted herein are reserved by Licensee. The license granted under this Section 2.2 will be governed by the provisions of Sections 1, 2, 5, 8, 9, 12, 13 and 14 of this Agreement, as if Calando Pharmaceuticals Inc.
were the Licensor and Insert Therapeutics, Inc. were the Licensee. 
 2.3 Sublicensing. Licensee has the right hereunder to
grant sublicenses to third parties, but sublicensees shall not have the right to grant further sublicenses, and the sublicenses may be of no greater scope than the licenses under Sections 2.1. 
 Licensee shall not receive, or agree to receive, anything of value in lieu of cash or equity from a third party under a sublicense granted pursuant to
this Section 2.3, without Licensor’s express prior written permission which shall not be unreasonably withheld. Licensee shall furnish Licensor within thirty (30) days of the execution thereof a true and complete copy of 

 

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 each sublicense and any changes or additions thereto. 
 Any sublicenses granted by Licensee shall survive termination of the licenses granted in Section 2.1, or of this Agreement, provided that the
following conditions are met as of the date of such termination: (a) the written agreement between Licensee and sublicensee pursuant to which the sublicense was granted (i) obligates the sublicensee to thereafter render to Licensor all
sublicense royalties or other sublicense-related consideration that the sublicensee would have owed to Licensee under the sublicense, (ii) names Licensor as a third party beneficiary, and (iii) affirms that Licensee shall remain
responsible for all obligations to sublicensee (other than those requiring Licensee to hold a license under the Exclusively Licensed Patent Rights or Technology, unless Licensor (at its discretion) elects to assume such obligations; and
(b) Licensee informs the sublicensee in writing (with a copy to Licensor) that the sublicensee’s obligations pursuant to (a) are in effect as a result of the termination. 
 2.4 No Other Rights Granted. The parties agree that neither this Agreement, nor any action of the parties related hereto, may be
interpreted as conferring by implication, estoppel or otherwise, any license or rights under any intellectual property rights of Licensor other than as expressly and specifically set forth in this Agreement, regardless of whether such other
intellectual property rights are dominant or subordinate to the Exclusively Licensed Patent Rights. 
 2.5 Preferential Purchaser
Status. Licensor shall be entitled to purchase Licensed Products from Licensee for educational, research or other noncommercial purposes on pricing terms that are at least as favorable as any commercial pricing made available by Licensee to
any third party. 
 ARTICLE 3 
 DISCLOSURE AND DELIVERY 
 Exclusively Licensed Patent Rights. Within one month of the Effective Date, Licensor
shall disclose and deliver to Licensee copies of all patent applications and issued patents within the Exclusively Licensed Patent Rights. 
 ARTICLE 4 
  

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 PROSECUTION OF PATENT APPLICATIONS AND 
 PAYMENT OF PATENT COSTS 
 4.1 Prosecution by Licensor. Licensor
shall use reasonable efforts, consistent with its normal practices, to: (a) prosecute any and all patent application(s) in connection with the Exclusively Licensed Patent Rights; and (b) file and prosecute Improvement Patent Rights
licensed hereunder for which Licensor or Licensee deems it beneficial to obtain additional coverage. Licensee may recommend patent counsel for this purpose. Licensor shall permit Licensee to review all patent applications and claims made therein,
and Licensor shall make reasonable efforts to implement modifications thereto as may be requested by Licensee prior to filing. With respect to filings pursuant to Paragraph (b) herein above, Licensor shall promptly disclose such Improvements to
Licensee and Licensee shall elect within thirty (30) days whether such Improvements shall be included within the Improvement Patent Rights, at its expense. Licensor will have no obligation to prosecute patent applications that may constitute
Improvements that are not elected by Licensee. Upon written election by Licensee, the parties will amend Exhibit A hereto to include inventions within the Exclusively Licensed Patent Rights, in a timely manner. 
 4.2 Prosecution by Licensee. If Licensor declines to file, prosecute or maintain Exclusively Licensed Patent Rights or Improvement Patent
Rights, then Licensee may elect to assume responsibility for such filing, prosecution or maintenance at its expense in Licensor’s name. Licensor agrees to fully cooperate with Licensee in filing, prosecuting, and maintaining any such patent
applications and patents, and Licensor agrees to execute any documents as shall be necessary for such purpose, and not to impair in any way the patentability of any of the foregoing. 
 4.3 Patent Costs. Except as specified in the next paragraph, Licensee shall reimburse Licensor for all reasonable expenses (including
attorneys’ fees) incurred by Licensor from and after the Effective Date for the filing, prosecution and maintenance, interference or reexamination proceedings, of Exclusively Licensed Patent Rights and Improvement Patent Rights that relate to
or arise from [**]. All amounts owed by Licensee for the reimbursement of patent expenses shall be due within thirty (30) days following receipt by Licensee from Licensor of an invoice covering such fees. 
  

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 Licensee may elect not to pay the foregoing patent costs and fees with respect to a particular patent
application or patent. In the event that Licensee elects not to pay any of the forgoing costs and fees with respect to a particular application or patent, Licensor, may, at its option, continue such prosecution or maintenance, although any patent or
patent application resulting from such prosecution or maintenance will thereafter no longer be subject to the licenses granted in Section 2.1 hereunder. 
 ARTICLE 5 
 ROYALTIES 
 5.1 Timing and Computation. All royalties hereunder shall be computed on a quarterly basis for the quarters ending
March 31st, June 30th, September 30th, and December 31st of each calendar year. Royalties for each such quarter shall be due and
payable within thirty (30) days after the end of such quarter. 
 5.2 Valid Claims. For any country in which the
Exclusively Licensed Patent Rights or Improvement Patent Rights includes a Valid Claim, Licensee shall pay Licensor a royalty [**]. 
 5.3
Technology. For any country in which the Exclusively Licensed Patent Rights or Improvement Patent Rights do not include a Valid Claim, Licensee shall pay Licensor a royalty of [**]. 
 5.4 Bundled Products and Services. In the event that Licensed Products are sold, licensed, distributed or used in combination with
one or more other products or services which are not Licensed Products, the Net Revenues for such combination products will be calculated [**]. 
 5.5 Sublicensing Royalties. Licensee shall pay Licensor [**]. 
 5.6 Minimum Annual Royalties. A minimum
annual royalty of [**]. Any royalties paid under Sections 5.2, 5.3, 5.4 and 5.5 for the one-year period preceding the date of payment of the minimum annual royalty shall be creditable against the annual minimum. Licensor shall have the right to
terminate this Agreement pursuant to Section 10.2 for failure to pay such minimum annual royalty. 
  

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 5.7 Third Party Royalty Offset. If Licensee or an Affiliate is required to make any payment
(including, but not limited to, royalties or other license fees) to one or more third parties to obtain a patent license in the absence of which it could not legally make, import, use, sell, or offer for sale Licensed Products in any country, and
Licensee provides Licensor with reasonably satisfactory evidence of such third-party payments, such third-party payments shall be [**]. 
 5.8 Currency Conversion. For the purpose of determining royalties payable under this Agreement, any royalties or other revenues Licensee receives from sublicensees in currencies other than U.S. dollars and any Net Revenues
denominated in currencies other than U.S. dollars shall be converted into U.S. dollars according to the noon buying rate of the Federal Reserve Bank of New York on the last business day of the quarterly period for which such royalties are
calculated. 
 5.9 Recordkeeping and Audits. Licensee shall keep complete and accurate production and accounting records
relating to commercialization (including via sublicensing) of Licensed Products. Licensor shall be entitled to have an independent CPA periodically audit such records, during Licensee’s normal business hours, to determine Licensee’s
compliance with the provisions of this Article 5. Licensee shall reimburse Licensor [**]% of any unpaid royalties resulting from any noncompliance discovered as a result of any such audit; and Licensee shall also pay Licensor an additional
[**]% of the entire amount of any underpayment exceeding [**]% of the corresponding amount previously paid. Such audits shall be at Licensor’s expense, and shall occur no more than once annually, except that in the case of any underpayment
exceeding [**]% of the amount actually paid: (a) Licensee shall reimburse Licensor for the cost of such audit; and (b) Licensor shall be entitled to conduct additional quarterly audits, at Licensee’s expense, until any such audit
demonstrates that Licensee is in compliance with its obligations. 
 5.10 For so long as royalties are payable under this Agreement, Licensee
shall report in writing to Licensor on or before April 30th, July 31st, October 31st, and January 31st, Net Revenues and the number of units of
Licensed Products sold during the preceding calendar quarter by Licensee and Related Companies, and the royalties or other revenues Licensee received from sublicensees other than Related Companies during the preceding calendar quarter 
  

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 for the sale of Licensed Products. Each such report shall also set forth an explanation of the calculation of the
royalties payable hereunder and be accompanied by payment of the royalties shown by said report to be due Licensor. 
 ARTICLE 6

 LICENSEE EQUITY INTEREST 
 6.1 Common Stock Grant. Licensee agrees to irrevocably issue to Licensor, in partial consideration of Licensee’s receipt of the licenses granted under this Agreement, [**] . 
 6.2 Transfer Restrictions. Licensor agrees that, in the event of any underwritten or public offering of securities of Licensee or an
Affiliate, Licensor shall comply with and agree to any legally required restriction on the transfer of its equity interest, or any part thereof, imposed by the underwriter, and shall perform all acts and sign all necessary documents required with
respect thereto. [**]. 
 6.3 Permitted Assignment by Licensee. Licensee may assign this Agreement [**]. 
 6.4 Any Other Assignment by Licensee. Any other attempt to assign this Agreement by Licensee is null and void. 
 6.5 Conditions of Assignment. Prior to any assignment, the following conditions must be met: 
 (a) Licensee must give Licensor 30 days prior written notice of the assignment, including the new assignee’s contact information; and 
 (b) the new assignee must agree in writing to Licensor to be bound by this Agreement. 
 6.6 After the Assignment. Upon a permitted assignment of this Agreement pursuant to this Section, Licensee will be released of liability
under this Agreement and the term “Licensee” in this Agreement will mean the assignee. 
  

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 ARTICLE 7 
 DUE DILIGENCE 
 7.1 Commercialization. Licensee agrees to use its best efforts to
commercially introduce Licensed Products in the Field as soon as practicable. Licensee shall be deemed to have satisfied its obligations under this Section 6.1 if [**]. 
 7.2 Reporting. On each yearly anniversary of the Effective Date, Licensee shall issue to Licensor a detailed written report on its progress
in introducing commercial Licensed Product(s). Such report shall be considered confidential information of Licensee subject to Article 11. 
 7.3 Failure to Commercialize. If Licensee is not fulfilling its obligations under Section 7.1 with respect to the Field in any country, and Licensor so notifies Licensee in writing, [**]. 
 ARTICLE 8 
 LITIGATION

 8.1 Enforcement. Both Licensor and Licensee agree to promptly notify the other in writing should either party become
aware of possible infringement by a third party of the Exclusively Licensed Patent Rights or Improvement Patent Rights. If Licensee has supplied Licensor with evidence of infringement of Exclusively Licensed Patent Rights or Improvement Patent
Rights, Licensee may by notice request Licensor to take steps to enforce the Exclusively Licensed Patent Rights. If Licensor does not, within sixty (60) days of the receipt of such notice, initiate an action against the alleged infringer in the
Field, Licensee may upon notice to Licensor initiate such an action at Licensee’s expense, either in Licensee’s name or in Licensor’s name if so required by law. Licensee shall be entitled to control any such action initiated by it.

 8.2 Other Defensive Litigation. If a declaratory judgment action alleging invalidity, unenforceability or noninfringement of
any of the Exclusively Licensed Patent Rights is brought against Licensee and/or Licensor, Licensee may elect to control the defense of such action, and if Licensee so elects it shall bear all the costs of the action. If mutually agreed between the
parties, Licensee may also undertake the defense of any interference, opposition or similar procedure 
  

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 with respect to the Exclusively Licensed Patent Rights, providing that Licensee bears all the costs thereof. 

8.3 Cooperation. In the event either party takes control of a legal action or defense pursuant to this Sections 8.1 or 8.2, (thus
becoming the Controlling Party) the other party shall fully cooperate with and supply all assistance reasonably requested by the Controlling Party, including by: (a) using commercially reasonable efforts to have its employees consult and
testify when requested; (b) making available relevant records, papers, information, samples, specimens, and the like; and (c) joining any such action in which it is an indispensable party. The Controlling Party shall bear the reasonable
expenses (including salary and travel costs) incurred by the other party in providing such assistance and cooperation. Each party shall keep the other party reasonably informed of the progress of the action or defense, and the other party shall be
entitled to participate in such action or defense at its own expense and using counsel of its choice. As a condition of controlling any action or defense involving the Exclusively Licensed Patent Rights pursuant to Sections 8.1 or 8.2, Licensee
shall use its best efforts to preserve the validity and enforceability thereof. 
 8.4 Settlement. If Licensee controls any
action or defense under Section 8.1 or 8.2, then Licensee shall have the right to settle any claims thereunder, but only upon terms and conditions that are reasonably acceptable to Licensor. Should Licensee elect to abandon such an action or
defense other than pursuant to a settlement with the alleged infringer that is reasonably acceptable to Licensor, Licensee shall give timely advance notice to Licensor who, if it so desires, may continue the action or defense. 
 8.5 Recoveries. Any amounts paid to Licensee by third parties as the result of an action or defense pursuant to Sections 8.1 or 8.2
(including in satisfaction of a judgment or pursuant to a settlement) shall first be applied to reimbursement of the unreimbursed expenses (including attorneys’ fees and expert fees) incurred by each party. Any remainder shall be divided
between the parties as follows: 
 (a) To the extent the amount recovered reflects Licensee’s lost profits or royalties, Licensee shall
retain the remainder less the amount of any royalties that would have 
  

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 been due Licensor under Article 5 on account of such lost profits or royalties, provided that [**]; and 
 (b) To the extent the amount recovered does not reflect [**]. 
 8.6 Infringement Defense. If Licensee, its Affiliate or sublicensee, distributor or other customer is sued by a third party charging infringement of patent rights that cover a Licensed Product, Licensee
will promptly notify Licensor. Licensee will be responsible for the expenses of, and will be entitled to control the defense or settlement of, any such action(s). 
 8.7 Marking. Licensee agrees to mark the Licensed Products with the numbers of applicable issued patents within the Exclusively Licensed Patent Rights, unless such marking is commercially infeasible in
accordance with normal commercial practices in the Field, in which case the parties shall cooperate to devise a commercially reasonable alternative to such marking. 
 8.8 Expiration or Abandonment. In a case where one or more patents or particular claims thereof within the Exclusively Licensed Patent Rights expire, or are abandoned, or are declared invalid or
unenforceable by a court of last resort or by a lower court from whose decree no appeal is taken, or certiorari is not granted within the period allowed therefore, then the effect thereof hereunder shall be: 
 (a) that such patents or particular claims shall, as of the date of expiration or abandonment or final decision as the case may be, cease to be included
within the Exclusively Licensed Patent Rights for the purpose of this Agreement; and 
 (b) that such construction so placed upon the
Exclusively Licensed Patent Rights by the court shall be followed from and after the date of entry of the decision, and royalties shall thereafter be payable by Licensee only in accordance with such construction. 
 In the event that Licensee challenges the validity of Licensed Patent Rights, Licensee may not cease paying royalties as of the date validity of the
claims in issue are challenged, but rather may cease paying royalties as to those claims only after a final adjudication of invalidity of those claims. 
  

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 8.9 Adjustment. In the event that any of the contingencies provided for in Section 8.8
occurs, [**]. 
 ARTICLE 9 
 REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION 
 9.1 Representations and Warranties of Licensor. Licensor
hereby represents and warrants to Licensee that as of the Effective Date: 
 (a) there are no outstanding exclusive licenses, exclusive
options or exclusive agreements of any kind relating to the Exclusively Licensed Patent Rights, other than pursuant to this Agreement herein; 
 (b) Licensor has the power to grant the rights, licenses and privileges granted herein and can perform as set forth in this Agreement without violating the terms of any agreement that Licensor has with any third party. 
 9.2 Exclusions. The parties agree that nothing in this Agreement shall be construed as, and LICENSOR HEREBY DISCLAIMS, ANY EXPRESS OR
IMPLIED REPRESENTATION, WARRANTY, COVENANT, OR OTHER OBLIGATION: 
 (a) THAT ANY PRACTICE BY OR ON BEHALF OF LICENSEE OF ANY INTELLECTUAL
PROPERTY LICENSED HEREUNDER IS OR WILL BE FREE FROM INFRINGEMENT OF RIGHTS OF THIRD PARTIES; 
 (b) AS TO WARRANTIES OF MERCHANTABILITY,
FITNESS FOR A PARTICULAR PURPOSE, OR NONINFRINGEMENT OF THIRD PARTY RIGHTS, WITH RESPECT TO ANY TECHNOLOGY PROVIDED BY LICENSOR TO LICENSEE HEREUNDER. 
 9.3 Indemnification by Licensor. Licensor shall indemnify, defend and hold harmless Licensee from and against any and all losses, damages, costs and expenses (including attorneys’ fees) arising out
of a material breach by Licensor of its representations and warranties (“Indemnification Claims”), except to the extent involving or relating to a material breach by Licensee of its representations and warranties, provided that:
(a) Licensor is notified promptly of 
  

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 any Indemnification Claims; (b) Licensor has the sole right to control and defend or settle any litigation within
the scope of this indemnity; and (c) all indemnified parties cooperate to the extent necessary in the defense of any Indemnification Claims. The foregoing shall be the sole and exclusive remedy of Licensee for breach of Section 9.1.

 9.4 Indemnification by Licensee. Licensee shall indemnify, defend and hold harmless Licensor, its trustees, officers, agents
and employees from and against any and all losses, damages, costs and expenses (including reasonable attorneys’ fees) arising out of third party claims brought against Licensor relating to the manufacture, sale, licensing, distribution or use
of Licensed Products by or on behalf of Licensee or its Affiliates, except to the extent involving or relating to a material breach by Licensor of its representations and warranties. 
 9.5 Certain Damages. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, OR INDIRECT DAMAGES ARISING OUT
OF THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY. 
 ARTICLE 10 
 TERM AND TERMINATION 
 10.1 Term. This Agreement and the rights
and licenses hereunder shall take effect on the Effective Date and continue until the expiration, revocation, invalidation, or unenforceability of the Exclusively Licensed Patent Rights licensed to Licensee hereunderor as long as royalties are due
pursuant to Article 5 of this Agreement, unless earlier terminated pursuant to the terms of this Agreement. 
 10.2 Termination for
Monetary Breach. Licensor shall have the right to terminate this Agreement and the rights and licenses hereunder if Licensee fails to make any payment due including patent expenses, minimum annual royalties or royalties hereunder and
Licensee continues to fail to make the payment, (either to Licensor directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of [**] days after receiving written
notice from Licensor specifying Licensee’s failure. Upon any such termination, (a) Licensee shall have [**] to complete the manufacture of any 
  

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 Licensed Products that are then works in progress for sale and to sell its inventory of Licensed Products, provided that
Licensee pays the applicable royalties, and (b) any sublicenses shall survive termination in accordance with Section 2.3. 
 10.3
Non-Monetary Termination for Breach. Non-monetary breach shall include, but is not limited to, failure to fulfill the obligations in Article 6 and pursuit of exploitation of Exclusively Licensed Patent Rights outside the Field. If this
Agreement is materially breached by either party, the non-breaching party may elect to give the breaching party written notice describing the alleged breach. If the breaching party has not cured such breach within thirty (30) days after receipt
of such notice, the notifying party will be entitled, in addition to any other rights it may have under this Agreement, to terminate this Agreement and the rights and licenses hereunder. 
 10.4 Other Termination. This Agreement may also be terminated, in whole or in part, as set forth in Sections 5.6 and 7.3. 
 10.5 Accrued Liabilities. Termination of this Agreement for any reason shall not release any party hereto from any liability which, at the
time of such termination, has 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 such termination. 
 10.6 Bankruptcy. Calando agrees that as a part of
its material inducement to Insert to enter into this License Agreement, it shall provide Calando at least ninety (90) days written notice hereunder of its intent to file a petition in Bankruptcy, whether it be for a Chapter 7, 11, 13, or any
other such petition. Insert shall have the right to immediately terminate this License Agreement by giving written notice to Calando, in the event Calando does any of the following: (a) provides notice hereunder of its intent to file (or does
actually file without providing said notice) a petition in bankruptcy, (b) attempt to make an assignment hereof for the benefit of creditors, (c) discontinues or dissolves its business, or (d) if a receiver is appointed for Calando.

 10.7 Survival. The following shall survive any expiration or termination (in whole or in pat) of this Agreement:
(a) any provision plainly indicating that it should survive; and (b) any 
  

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 royalty due and payable on account of activity prior to the termination; and (c) Sections or Articles 6.2, 9.2, 9.3,
9.4, 9.5, 10.4, 11, 12, 13.1 & 14. 
 ARTICLE 11 
 CONFIDENTIALITY 
 11.1 Nondisclosure and Nonuse. Confidential Information is defined as
the Technology, the specification of any unpublished patent application, except to the extent (if at all) the foregoing is inherently disclosed in the normal course of use of a Licensed Product, and the terms of this Agreement or any reports due
thereunder. During the term of this Agreement, each party agrees not to disclose any confidential information of the other party to any third party without the prior written consent of the other party, or to use any such confidential information for
any purpose other than as contemplated by this Agreement. Notwithstanding anything to the contrary, confidential information of a party shall not include any information which: (a) is independently developed, without access to that party’s
confidential information, by the other party; (b) is acquired by the other party from a third party who has the right to disclose such information; or (c) is or becomes part of the public domain (e.g., by publication of a patent or by any
other means) except via an unauthorized act or omission by the other party. 
 11.2 Permitted Disclosures. Notwithstanding the
foregoing, each party may disclose: (a) confidential information as required by securities or other applicable laws or pursuant to governmental proceedings, provided that the disclosing party gives advance written notice to the other party and
reasonably cooperates therewith in limiting the disclosure to only those third parties having a need to know; (b) confidential information disclosed to a party’s actual or prospective investors, corporate partners, or a party’s
accountants, attorneys or other professional advisors; and (c) the fact that Licensee has been granted a license under the Exclusively Licensed Patent Rights. 
 ARTICLE 12 
 DISPUTE RESOLUTION 
 12.1 No issue of the validity of any of the Licensed Patents, enforceability of any of the Licensed Patents, infringement of any of the Licensed Patents,
the scope of any of the claims of 
  

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 the Licensed Patents and/or any dispute that includes any such issue, shall be subject to arbitration under this
Agreement unless otherwise agreed by the Parties in writing. 
 12.2 Except for those issues and/or disputes described in Section 10.2,
any dispute between the Parties concerning the interpretation, construction or application of any terms, covenants or conditions of this Agreement shall be resolved by arbitration. 
 12.3 Arbitration shall be in accordance with the CPR Licensor For Dispute Resolution (CPR) Rules for Non-Administered Arbitration of Patent and Trade
Secret Disputes or Rules for Non-Administered Arbitration, as appropriate, in effect on the Effective Date by a sole Arbitrator who shall be appointed in accordance with the applicable CPR rules. Any other choice of law clause to the contrary in
this Agreement notwithstanding, the arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. Section 1-16. 
 12.4
Any award made (i) shall be a bare award limited to a holding for or against a party and affording such remedy as is within the scope of the Agreement; (ii) shall be accompanied by a brief statement (not to exceed ten (10) pages) of
the reasoning on which the award rests; (iii) shall be made within four (4) months of the appointment of the Arbitrator; (iv) may be entered in any court of competent jurisdiction; and (v) any award pertaining to a patent which
is subsequently determined to be invalid or unenforceable or otherwise precluded from being enforced, in a judgment rendered by a court of competent jurisdiction from which no appeal can or has been taken, may be modified as it relates to such
patent by any court of competent jurisdiction upon application by any party to the arbitration, however, under no circumstances shall Licensor be required to refund any monies paid, or forego any amounts accrued, under the terms of this Agreement.

 12.5 The requirement for arbitration shall not be deemed a waiver of any right of termination under this Agreement and the Arbitrator is
not empowered to act or make any award other than based solely on the rights and obligations of the Parties prior to any such termination. 
 12.6 Each party shall bear its own expenses incurred in connection with any attempt to resolve disputes hereunder, but the compensation and expenses of the Arbitrator shall be borne equally. 
  

 -18- 

 12.7 The Arbitrator shall not have authority to award punitive or other damages in excess of compensatory
damages, and each party irrevocably waives any claim thereto. 
 ARTICLE 13 
 PRODUCT LIABILITY 
 13.1 Indemnification. Licensee agrees that
Licensor [**]. 
 13.2 Insurance. Prior to such time as Licensee begins to manufacture, sell, license, distribute or use
Licensed Products, Licensee shall at its sole expense, procure and maintain policies of comprehensive general liability insurance in amounts not less than $[**] per incident and $[**] in annual aggregate, and naming those indemnified under
Section 13.1 as additional insureds. Such comprehensive general liability insurance shall provide: (a) product liability coverage; and (b) broad form contractual liability coverage for Licensee’s indemnification of Licensor under
Section 13.1. In the event the aforesaid product liability coverage does not provide for occurrence liability, Licensee shall maintain such comprehensive general liability insurance for a reasonable period of not less than five (5) years
after it has ceased commercial distribution or use of any Licensed Product. Licensee shall provide Licensor with written evidence of such insurance upon request of Licensor. 
 13.3 Loss of Coverage. Licensee shall provide Licensor with notice at least fifteen (15) days prior to any cancellation, non-renewal
or material change in such insurance, to the extent Licensee receives advance notice of such matters from its insurer. If Licensee does not obtain replacement insurance providing comparable coverage within sixty (60) days following the date of
such cancellation, non-renewal or material change, Licensor shall have the right to terminate this Agreement effective at the end of such sixty (60) day period without any additional waiting period; provided that if Licensee provides credible
written evidence that is has used reasonable efforts, but is unable, to obtain the required insurance, Licensor shall not have the right to terminate this Agreement, and Licensor instead shall cooperate with Licensee to either (at Licensor’s
discretion) grant a limited waiver of Licensee’s obligations under this Article or assist Licensee in identifying a carrier to provide such insurance or in developing a program for self-insurance or other alternative measures. 
  

 -19- 

 ARTICLE 14 
 MISCELLANEOUS 
 14.1 Notices. All notice, requests, demands and other communications
hereunder shall be in English and shall be given in writing and shall be: (a) personally delivered; (b) sent by telecopier, facsimile transmission or other electronic means of transmitting written documents with confirmation of receipt; or
(c) sent to the parties at their respective addresses indicated herein by registered or certified mail, return receipt requested and postage prepaid, or by private overnight mail courier services with confirmation of receipt. The respective
addresses to be used for all such notices, demands or requests are as follows: 
  

	 	(a)	If to LICENSOR, to: 

  

	 	  	Insert Therapeutics, Inc. 

  

	 	  	2585 Nina Street 

  

	 	  	Pasadena, CA 91107 

  

	 	  	ATTN: President 

  

	 	  	Phone No.: (626) 683-7200 

  

	 	  	Fax No.: (626) 683-7220 

 Or to such other person or
address as Licensor shall furnish to Licensee in writing. 
  

	 	(b)	If to LICENSEE, to: 

  

	 	  	Calando Pharmaceuticals 

  

	 	  	173 Highland Place 

  

	 	  	Monrovia, CA 91016 

  

	 	  	ATTN: John G. Petrovich, CEO 

  

	 	  	Phone No.: 626.808.3003 

  

	 	  	Fax No.: 253.669.2568 

  

 -20- 

 If personally delivered, such communication shall be deemed delivered upon actual receipt by the
“attention” addressee or a person authorized to accept for such addressee; if transmitted by facsimile pursuant to this paragraph, such communication shall be deemed delivered the next business day after transmission, provided that sender
has a transmission confirmation sheet indicating successful receipt at the receiving facsimile machine; if sent by overnight courier pursuant to this paragraph, such communication shall be deemed delivered upon receipt by the “attention”
addressee or a person authorized to accept for such addressee; and if sent by mail pursuant to this paragraph, such communication shall be deemed delivered as of the date of delivery indicated on the receipt issued by the relevant postal service,
or, if the addressee fails or refuses to accept delivery, as of the date of such failure or refusal. Any party to this Agreement may change its address for the purposes of this Agreement by giving notice thereof in accordance with this
Section 14.1 
 14.2 Entire Agreement. This Agreement sets forth the complete agreement of the parties concerning the
subject matter hereof. No claimed oral agreement in respect thereto shall be considered as any part hereof. No amendment or change in any of the terms hereof subsequent to the execution hereof shall have any force or effect unless agreed to in
writing by duly authorized representatives of the parties. 
 14.3 Waiver. No waiver of any provision, of this Agreement shall
be effective unless in writing. No waiver shall be deemed to be, or shall constitute, a waiver of a breach of any other provision of this Agreement, whether or not similar, nor shall such waiver constitute a continuing waiver of such breach unless
otherwise expressly provided in such waiver. 
 14.4 Severability. Each provision contained in this Agreement is declared to
constitute a separate and distinct covenant and provision and to be severable from all other separate, distinct covenants and provisions. It is agreed that should any clause, condition or term, or any part thereof, contained in this Agreement be
unenforceable or prohibited by law or by any present or future legislation then: (a) such clause, condition, term or part thereof, shall be amended, and is hereby amended, so as to be in compliance therewith the legislation or law; but
(b) if such clause, condition or term, or part thereof, cannot be amended so as to be in compliance with the legislation or law, then such clause, condition, term or part thereof shall be severed from 
  

 -21- 

 this Agreement all the rest of the clauses, terms and conditions or parts thereof contained in this Agreement shall
remain unimpaired. 
 14.5 Construction. The headings in this Agreement are Licensored for convenience only and shall not
constitute a part hereof. Unless expressly noted, the term “include” (including all variations thereof) shall be construed as merely exemplary rather than as a term of limitation. 
 14.6 Counterparts/Facsimiles. This Agreement may be executed in one or more counterparts, all of which taken together shall be deemed one
original. Facsimile signatures shall be deemed original. 
 14.7 Governing Law. This Agreement, the legal relations between the
parties and any action, whether contractual or non-contractual, instituted by any party with respect to matters arising under or growing out of or in connection with or in respect of this Agreement shall be governed by and construed in accordance
with the internal laws of the State of California, excluding any conflict of law or choice of law rules that may direct the application of the laws of another jurisdiction. 
 14.8 No Endorsement. Licensee agrees that it shall not make any form of representation or statement which would constitute an express or
implied endorsement by Licensor of any Licensed Product, and that it shall not authorize others to do so, without first having obtained written approval from Licensor, except as may be required by governmental law, rule or regulation. 
 14.9 Transferability. This Agreement shall be binding upon and inure to the benefit of any successor or assignee of Licensor. This
Agreement is not transferable by Licensee without the prior written consent of Licensor, and any attempted transfer shall be void, except that Licensee may transfer this Agreement without the prior written consent of Licensor to any Affiliate or any
successor of, or purchaser of substantially all of, the assets or operations of its business to which this Agreement pertains. Any permitted transferee shall succeed to all of the rights and obligations of Licensee under this Agreement. See
paragraph 6.3. 
 14.10 Export Regulations. This Agreement is subject in all respects to the laws and 
  

 -22- 

 regulations of the United States of America, including the Export Administration Act of 1979, as amended, and any
regulations thereunder. Licensee or its sublicensees will not in any form export, re-export, resell, ship, divert, or cause to be exported, re-exported, resold, shipped, or diverted, directly or indirectly, any product or technical data or software
of the other party, or the direct product of such technical data or software, to any country for which the United States Government or any agency thereof requires an export license or other governmental approval without first obtaining such license
or approval 
 14.11 Force Majeure. Neither party shall lose any rights hereunder or be liable to the other party for damages
or losses (except for payment obligations) on account of failure of performance by the defaulting party if the failure is occasioned by war, strike, fire, Act of God, earthquake, flood, lockout, embargo, governmental acts or orders or restrictions,
failure of suppliers, or any other reason where failure to perform is beyond the reasonable control and not caused by the negligence or intentional conduct or misconduct of the nonperforming party, and such party has exerted all reasonable efforts
to avoid or remedy such force majeure; provided, however, that in no event shall a party be required to settle any labor dispute or disturbance. 
  

 -23- 

 IN WITNESS WHEREOF, the parties have
caused this Agreement to be executed: 
  

					
		 	INSERT THERAPEUTICS, INC.
			
	Date: July 1, 2005	 	By:	 	 /s/ Joseph T. Kingsley

		 	Name:	 	Joseph T. Kingsley
		 	Title:	 	Chief Financial Officer
		
	Date: July 1, 2005	 	CALANDO PHARMACEUTICALS, INC.
			
		 	By:	 	 /s/ John G. Petrovich

		 	Name:	 	John G. Petrovich
		 	Title:	 	CEO

  

 -24- 

 Exhibit A 
 Exclusively Licensed Patent Rights 
 [**] 
  

 -25- 

 Exhibit B 
 Technology 
  

				
	 Name
	  	Description	 
	 [**]
	  	*	*

  

 -26-CHANGE-IN-CONTROL SEVERANCE AGREEMENT

 Exhibit 10.1 
 CHANGE-IN-CONTROL 
 SEVERANCE AGREEMENT 
 THIS AGREEMENT, dated as of December 11, 2006, by and between SeaChange International, Inc., with its principal place of business at 50 Nagog Park,
Acton, Massachusetts 01720 (the “Company”), and Yvette Kanouff (the “Executive”). 
 WHEREAS, the Company considers it
essential to the best interests of its stockholders to foster the continuous employment of key management personnel, and recognizes that, as is the case with many publicly held corporations, the possibility of a change in control may exist and that
such possibility, and the uncertainty and questions which it may raise among management, may result in the distraction or departure of management personnel to the detriment of the Company and its stockholders; and 
 WHEREAS, the Board of Directors of the Company has determined that appropriate steps should be taken to reinforce and encourage the Executive’s
continued attention and dedication to the Executive’s assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a change in control of the Company, although no such change is
presently known to be contemplated. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1 
 DEFINITIONS 
 Except as may otherwise be specified or as the context may otherwise require, the following terms shall have the respective meanings set forth below whenever used herein: 
 “Annual Bonus” shall mean the annual bonus, or if the Executive is paid a bonus on a quarterly basis, the sum of the four quarterly bonus
payments, paid to the Executive for the Company’s fiscal year immediately prior to the fiscal year in which the Date of Termination occurs, or, if greater, the fiscal year immediately preceding such prior fiscal year, as well as the lesser of
(i) the aggregate amount of sales commissions, if any, paid to the Executive for the Company’s fiscal year immediately prior to the fiscal year in which the Date of Termination occurs, or, if greater, the fiscal year immediately preceding
such prior fiscal year, or (ii) the average annual amount of sales commissions, if any, paid to the Executive for the three fiscal years immediately prior to the fiscal year in which the Date of Termination occurs. 
 “Base Salary” shall mean the annual base rate of regular compensation of the Executive immediately before a Covered Termination, or if greater,
the highest annual such rate at any time during the 12-month period immediately preceding the Covered Termination. 
 “Board” shall
mean the Board of Directors of the Company. 
  

 1 

 “Cause” shall mean (i) the Executive’s engaging in willful and repeated gross
negligence or gross misconduct, (ii) the Executive’s breaching of a material fiduciary duty to the Employer, or (iii) the Executive’s being convicted of a felony, in either case, to the demonstrable and material injury to the
Employer. For purposes hereof, no act, or failure to act, on the Executive’s part, shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that any act or omission
was in the best interest of the Employer. 
 “Change in Control” shall mean the first to occur, after the date hereof, of any of
the following: 
 (i) the members of the Board at the beginning of any consecutive 12- calendar-month period (the “Incumbent
Directors”) cease for any reason other than due to death to constitute at least a majority of the members of the Board; provided that any director whose election, or nomination for election by the Company’s stockholders, was approved by a
vote of at least a majority of the members of the Board then still in office who were members of the Board at the beginning of such 12- calendar-month period, shall be deemed to be an Incumbent Director; 
 (ii) any consolidation or merger of the Company where the stockholders of the Company, immediately prior to the consolidation or merger, would not,
immediately after the consolidation or merger, beneficially own (as such term is defined in Rule 13d-3 under the Securities Exchange Act), directly or indirectly, shares of Stock representing in the aggregate 50% or more of the combined voting power
of the securities of the corporation issuing cash or securities in the consolidation or merger (or of its ultimate parent corporation, if any); 
 (iii) there shall occur (A) any sale, lease, exchange or other transfer (in one transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Company,
other than a sale or disposition by the Company of all or substantially all of the Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by Persons in substantially the same
proportion as their ownership of the Company immediately prior to such sale or (B) the approval by stockholders of the Company of any plan or proposal for the liquidation or dissolution of the Company; or 
 (iv) Any corporation or other legal person, pursuant to a tender offer, exchange offer, purchase of stock (whether in a market transaction or otherwise)
or other transaction or event acquires securities representing 40% or more of the combined voting power of the voting securities of the Company, or there is a report filed on Schedule 13D or Schedule 14D-1 (or any successor schedule, form
or report), each as promulgated pursuant to the U.S. Securities Exchange Act, disclosing that any “person” (as such term is used in Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act) has become the
“beneficial owner” (as such term is used in Rule 13d-3 under the Securities Exchange Act) of securities representing 40% or more of the combined voting power of the voting securities of the Company. 
 Notwithstanding the foregoing, none of the foregoing event(s) shall constitute a Change in Control unless such event(s) constitute a “change in the ownership or
effective control” or a change “in the ownership of a substantial portion of the assets,” in each case within the meaning of Section 409A(a)(2)(A)(v) of the Code and any regulations and other guidance in effect from time-to-time
thereunder including, without limitation, Notice 2005-I. 
  

 2 

 Upon the occurrence of a Change in Control as provided above, no subsequent event or condition shall constitute a Change
in Control for purposes of this Agreement, with the result that there can be no more than one Change in Control hereunder. 
 “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 “Company” shall mean, subject to
Section 4.1(a), SeaChange International, Inc., a Delaware corporation. 
 “Covered Termination” shall mean if, within the
one-year period immediately following a Change in Control, the Executive (i) is terminated by the Employer without Cause (other than on account of death or Disability), or (ii) terminates the Executive’s employment with the Employer
for Good Reason. The Executive shall not be deemed to have terminated for purposes of this Agreement merely because he or she ceases to be employed by the Employer and becomes employed by a new employer involved in the Change in Control; provided
that such new employer shall be bound by this Agreement as if it were the Employer hereunder with respect to the Executive. It is expressly understood that no Covered Termination shall be deemed to have occurred merely because, upon the occurrence
of a Change in Control, the Executive ceases to be employed by the Employer and does not become employed by a successor to the Employer after the Change in Control if the successor makes an offer to employ the Executive on terms and conditions
which, if imposed by the Employer, would not give the Executive a basis on which to terminate employment for Good Reason. 
 “Date of
Termination” shall mean the date on which a Covered Termination occurs. 
 “Disability” shall mean the occurrence after a
Change in Control of the incapacity of the Executive due to physical or mental illness, whereby the Executive shall have been absent from the full-time performance of the Executive’s duties with the Employer for six consecutive months or, in
any one year period, for an aggregate of six months. 
 “Employer” shall mean the Company (if and for so long as the Executive is
employed thereby) and each Subsidiary which may now or hereafter employ the Executive or, where the context so requires, the Company and such Subsidiaries collectively. A subsidiary which ceases to be, directly or indirectly, through one or more
intermediaries, controlling, controlled by or under common control with the Company prior to a Change in Control (other than in connection with and as an integral part of a series of transactions resulting in a Change in Control) shall,
automatically and without any further action, cease to be (or be part of) the Employer for purposes hereof. 
 “Good Reason” shall
mean, without the express written consent of the Executive, the occurrence after a Change in Control of any of the following circumstances, unless such circumstances are fully corrected prior to the Date of Termination specified in the Notice of
Termination given in respect thereof: 
 (i) the material reduction of the Executive’s title, or the reduction of the Executive’s
authority, duties or responsibilities, or the assignment to the Executive of any duties inconsistent with Executive’s position, authority, duties or responsibilities from those in effect immediately prior to the Change in Control; 

(ii) a reduction in the Executive’s Base Salary as in effect immediately before the Change in Control; 
  

 3 

 (iii) a material reduction in the Executive’s aggregate compensation opportunity, comprised only of
the Executive’s (A) Base Salary, and (B) bonus opportunity (taking into account, without limitation, any target, minimum and maximum amounts payable and the attainability and otherwise the reasonableness of any performance hurdles,
goals and other measures), if any; 
 (iv) the Company’s requiring the Executive to be based at any office or location more than 75
miles from that location at which the Executive performed Executive’s services immediately prior to the occurrence of a Change in Control, except for travel reasonably required in the performance of the Executive’s responsibilities;

 (v) the failure of the Company to obtain a reasonable agreement from any successor to assume and agree to perform this Agreement, as
contemplated in Section 4.1(a); 
 (vi) the failure of the Company to pay the Executive any amounts due hereunder; or 
 (vii) any other material breach by the Company of this Agreement. 
 “Notice of Termination” shall mean a notice given by the Employer or Executive, as applicable, which shall indicate the date of termination and the specific termination provision in this Agreement relied
upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provisions so indicated. 
 “Person” shall have the meaning ascribed thereto by Section 3(a)(9) of the Securities Exchange Act, as modified and used in Sections 13(d)
and 14(d) thereof (except that such term shall not include (i) the Company or any of its Subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or any of its Subsidiaries,
(iii) an underwriter temporarily holding securities pursuant to an offering of such securities, (iv) a corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportion as their ownership of
stock of the Company, or (v) such Executive or any “group” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act) which includes the Executive). 
 “Securities Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Stock” shall mean the common stock, $.01 par value, of the Company 
 “Subsidiary” shall mean any entity, directly or indirectly, through one or more intermediaries, controlled by the Company. 
  

 4 

 Section 2 
 BENEFITS 
 2.1 If a Change in Control occurs, then: 
 (a) (i) any and all outstanding unvested stock options and stock appreciation rights held by the Executive shall thereupon automatically vest and
become immediately exercisable in accordance with their terms, and (ii) notwithstanding anything to the contrary contained in clause (i), upon a termination of employment (regardless of the party initiating the termination, for any reason or no
reason), all stock options and stock appreciation rights held by the Executive which were granted after the date hereof shall be exercisable for the lesser of (A) the remainder of the generally applicable term of the stock options or stock
appreciation rights, which is measured from the date of grant thereof, and (B) three years from the date of such termination; provided that nothing in this Section 2.1(a) shall reduce or otherwise adversely affect the rights under such
stock options and stock appreciation rights that the Executive would have without regard to this Section 2.1(a); and 
 (b) any and all
restricted stock and restricted stock rights then held by the Executive shall thereupon fully vest and become immediately transferable free of restrictions, other than restrictions imposed by applicable law. 
 2.2 If a Covered Termination occurs, then (subject to the provisions of Section 2.3(b)) the Executive shall be entitled hereunder to the following:

 (a) the Company shall pay to the Executive an amount equal to the sum of (i) two times the Executive’s Base Salary and
(ii) the Executive’s Annual Bonus, provided, however, that, in the event William Styslinger is or may become entitled to a payment under Section 2.2(a) of a Change-in-Control Agreement dated as of July 30, 2004 (the
“Styslinger Agreement”) with respect to the same Change-in-Control, the aggregate amount paid to the Executive under this subsection (a)(ii) shall not exceed the amount paid or which may be payable to Mr. Styslinger under
subsection 2.2(a) of the Styslinger Agreement (calculated as of the Date of Termination) less the amount paid to the Executive pursuant to subsection 2.2(a)(i) hereof; 
 (b) for a period of two years after such termination, the Employer shall arrange to make available to the Executive medical, dental, group life and
disability benefits that are at least at a level (and cost to the Executive) that is substantially similar in the aggregate to the level of such benefits which was available to the Executive immediately prior to the Change in Control; provided that
(i) the Employer shall be required to provide group life and disability benefits only to the extent it is able to do so on reasonable terms and at a reasonable cost, (ii) the Employer shall not be required to provide benefits under this
Section 2.2(b) upon and after the Change in Control which are in excess of those provided to a significant number of executives of similar status who are employed by the Employer from time to time upon and after the Change in Control, and
(iii) no type of benefit otherwise to be made available to the Executive pursuant to this Section 2.2(b) shall be required to be made available to the extent that such type of benefit is made available to the Executive by any subsequent
employer of the Executive; 
 (c) the Employer shall provide the Executive with outplacement service through a bona fide outplacement
organization reasonably acceptable to the Executive that agrees to supply the Executive with outplacement counseling, a private office and administrative support including telephone service until the earlier of one year from the Date of Termination
or until such time that Executive secures employment; 
  

 5 

 (d) the Company shall pay for the Executive to receive financial planning services for which the Company
pays not more than $5,000; and 
 (e) the Company shall provide the Executive with a payment for any accrued but unused vacation. 

2.3 (a) The payments provided for in Section 2.2 shall (except as otherwise expressly provided therein or as provided in Section 2.3(b)
or as otherwise expressly provided hereunder) be made as soon as practicable, but in no event later than 30 days, following the Date of Termination. 
 Notwithstanding any other provision of this Agreement, if the Executive is a “key employee” as defined in Section 416(i) of the Code without regard to paragraph 5 thereof, no payment under this Agreement with respect to
separation from service shall be made before the date which is six months after the date of separation from service (or, if earlier, the date of death of the Executive). 
 (b) Notwithstanding any other provision of this Agreement to the contrary, no payment or benefit otherwise provided for under or by virtue of the foregoing provisions of this Agreement shall be paid or otherwise made
available unless and until the Employer shall have first received from the Executive (no later than 60 days after the Employer has provided to the Executive estimates relating to the payments to be made under this Agreement) a valid, binding and
irrevocable general release, in form and substance reasonably acceptable to the Employer; provided that the Employer shall be permitted to defer any payment or benefit otherwise provided for in this Agreement to the fifth day after the later of its
receipt of such release and the time at which the release has become valid, binding and irrevocable. 
 Section 3 
 PARACHUTE TAX PROVISIONS 
 3.1 If all, or any
portion, of the payments and benefits provided under this Agreement, if any, either alone or together with other payments and benefits which the Executive receives or is entitled to receive from the Company or its affiliates, would constitute an
excess “parachute payment” within the meaning of Section 280G of the Code (whether or not under an existing plan, arrangement or other agreement) (each such parachute payment, a “Parachute Payment”), and would result in the
imposition on the Executive of an excise tax under Section 4999 of the Code, then, in addition to any other benefits to which the Executive is entitled under this Agreement or otherwise, the Executive shall be paid an amount in cash equal to
the sum of the excise taxes payable by the Executive by reason of receiving Parachute Payments plus the amount necessary to place the Executive in the same after-tax position (taking into account any and all applicable federal, state and local
excise, income or other taxes at the highest possible applicable rates on such Parachute Payments (including, without limitation, any payments under this Section 3.1)) as if no excise taxes had been imposed with respect to Parachute Payments
(the “Parachute Gross-up”). Any Parachute Gross-up otherwise required by this Section 3.1 shall be made not later than the time of the corresponding payment or benefit hereunder giving rise to the underlying Section 4999 excise
tax, even if the payment of the excise tax is not required under the Code until a later time. 
 3.2 Except as may otherwise be agreed to by
the Company and the Executive, the amount or amounts (if 
  

 6 

 any) payable under this Section 3 shall be determined, at the sole cost of the Company, by the Company’s
independent auditors (who served in such capacity immediately prior to the Change in Control), whose determination or determinations shall be final and binding on all parties. The Executive hereby agrees to utilize such determination or
determinations, as applicable, in filing all of the Executive’s tax returns with respect to the excise tax imposed by Section 4999 of the Code. If such independent auditors refuse to make the required determinations, then such
determinations shall be made by a comparable independent accounting firm of national reputation reasonably selected by the Company. Notwithstanding any other provision of this Agreement to the contrary, as a condition to receiving any Parachute
Gross-up payment, the Executive hereby agrees to be bound by and comply with the provisions of this Section 3.2. 
 Section 4

 MISCELLANEOUS 
 4.1
(a) The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform under the
terms of this Agreement in the same manner and to the same extent that the Company and its affiliates would be required to perform it if no such succession had taken place (provided that such a requirement to perform which arises by operation of law
shall be deemed to satisfy the requirements for such an express assumption and agreement), and in such event the Company (as constituted prior to such succession) shall have no further obligation under or with respect to this Agreement. Failure of
the Company to obtain such assumption and agreement with respect to the Executive prior to the effectiveness of any such succession shall be a breach of the terms of this Agreement with respect to the Executive and shall entitle the Executive to
compensation from the Employer (as constituted prior to such succession) in the same amount and on the same terms as the Executive would be entitled to hereunder were the Executive’s employment terminated for Good Reason following a Change in
Control, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination. As used in this Agreement, “Company” shall mean the Company as hereinbefore
defined and any successor to its business or assets as aforesaid which assumes and agrees (or is otherwise required) to perform this Agreement. Nothing in this Section 4.1(a) shall be deemed to cause any event or condition which would otherwise
constitute a Change in Control not to constitute a Change in Control. 
 (b) Notwithstanding Section 4.1(a), the Company shall remain
liable to the Executive upon a Covered Termination after a Change in Control if the Executive is not offered continuing employment by a successor to the Employer on a basis which would not constitute a termination for Good Reason. 
 (c) This Agreement, and the Executive’s and the Company’s rights and obligations hereunder, may not be assigned by the Executive or, except as
provided in Section 4.1(a), the Company, respectively; any purported assignment by the Executive or the Company in violation hereof shall be null and void. 
 (d) The terms of this Agreement shall inure to the benefit of and be enforceable by the personal or legal representatives, executors, administrators, permitted successors, heirs, distributees, devisees and legatees of
the Executive. If the Executive shall die while an amount would still be payable to the Executive hereunder if they had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to the Executive’s devisee, legatee or other designee or, if there is no such designee, the Executive’s estate. 
 4.2
Except as expressly provided in Section 2.2, the Executive shall not be required to mitigate damages or 
  

 7 

 the amount of any payment or benefit provided for under this Agreement by seeking other employment or otherwise, nor will
any payments or benefits hereunder be subject to offset in the event the Executive does mitigate. 
 4.3 The Employer shall pay all
reasonable legal fees and expenses incurred in a legal proceeding by the Executive in seeking to obtain or enforce any right or benefit provided by this Agreement. Such payments are to be made within twenty days after the Executive’s
request for payment accompanied with such evidence of fees and expenses incurred as the Employer reasonably may require; provided that if the Executive institutes a proceeding and the judge or other decision-maker presiding over the proceeding
affirmatively finds that the Executive has failed to prevail substantially, the Executive shall pay Executive’s own costs and expenses (and, if applicable, return any amounts theretofore paid on the Executive’s behalf under this
Section 4.3). 
 4.4 For the purposes of this Agreement, notice and all other communications provided for in this Agreement shall be in
writing and shall be deemed to have been duly given when hand delivered or mailed by United States certified or registered express mail, return receipt requested, postage prepaid, if to the Executive, addressed to the Executive at his or her
respective address on file with the Company; if to the Company, addressed to SeaChange International, Inc., 124 Acton Street, Maynard, MA 01754, and directed to the attention of its Chief Financial Officer; if to the Board, addressed to the
Board of Directors, c/o 124 Acton Street, Maynard, MA 01754, and directed to the Company’s Chief Financial Officer; or to such other address as any party may have furnished to the others in writing in accordance herewith, except that
notice of change of address shall be effective only upon receipt. 
 4.5 Unless otherwise determined by the Employer in an applicable plan or
arrangement, no amounts payable hereunder upon a Covered Termination shall be deemed salary or compensation for the purpose of computing benefits under any employee benefit plan or other arrangement of the Employer for the benefit of its employees.

 4.6 This Agreement is the exclusive arrangement with the Executive applicable to payments and benefits in connection with a change in
control of the Company (whether or not a Change in Control), and supersedes any prior arrangements involving the Company or its predecessors or affiliates relating to changes in control (whether or not Changes in Control). This Agreement shall not
limit any right of the Executive to receive any payments or benefits under an employee benefit or executive compensation plan of the Employer, initially adopted as of or after the date hereof, which are expressly contingent thereunder upon the
occurrence of a change in control (including, but not limited to, the acceleration of any rights or benefits thereunder); provided that in no event shall the Executive be entitled to any payment or benefit under this Agreement which duplicates a
payment or benefit received or receivable by the Executive under any severance or similar plan or policy of the Employer, and in any such case the Executive shall only be entitled to receive the greater of the two payments. 
 4.7 Any payments hereunder shall be made out of the general assets of the Employer. The Executive shall have the status of general unsecured creditor of
the Employer, and this Agreement constitutes a mere promise by the Employer to make payments under this Agreement in the future as and to the extent provided herein. 
 4.8 Nothing in this Agreement shall confer on the Executive any right to continue in the employ of the Employer or interfere in any way (other than by virtue of requiring payments or benefits as may expressly be
provided herein) with the right of the Employer to terminate the Executive’s employment at any time. 
  

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 4.9 The Employer shall be entitled to withhold from any payments or deemed payments any amount of tax
withholding required by law. 
 4.10 Any controversy or claim arising out of or relating to this Agreement or the breach of this Agreement
that is not resolved by the Employer and the Executive shall be submitted to arbitration in Boston, Massachusetts, in accordance with Massachusetts law and the procedures of the American Arbitration Association. The determination of the
arbitrator(s) shall be conclusive and binding on the Employer and Executive and judgment may be entered on the arbitrator(s)’ award in any court having jurisdiction. 
 4.11 This Agreement may be amended, superseded, canceled, renewed or extended, and the terms hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving
compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any such right, power or privilege nor any single or partial
exercise of any such right, power or privilege, preclude any other or further exercise thereof or the exercise of any other such right, power or privilege. 
 4.12 The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement which shall remain in full force and effect.

 4.13 The use of captions in this Agreement is for convenience. The captions are not intended to and do not provide substantive rights.

 4.14 THIS AGREEMENT SHALL BE CONSTRUED, ADMINISTERED AND ENFORCED ACCORDING TO THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW, EXCEPT TO THE EXTENT PREEMPTED BY FEDERAL LAW. 
 IN WITNESS WHEREOF, the parties hereto have
signed their names, effective as of the date first above written. 
  

			
	SEACHANGE INTERNATIONAL, INC.
		
	By:	 	 /s/ Kevin M. Bisson

	Name:	 	Kevin M. Bisson
	Title:	 	 Chief Financial Officer, Treasurer, Secretary
 and Senior
Vice President, Finance and
 Administration

	
	 /s/ Yvette Kanouff

	Yvette Kanouff

  

 9

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