Document:

EX-10.16

 DEVELOPMENT AND LICENSE AGREEMENT 

This Development and License Agreement (“Agreement”) dated as of this 28th of February, 2012 (“Effective Date”), is between
Concert Pharmaceuticals, Inc., a Delaware corporation having offices located at 99 Hayden Avenue, Suite 500, Lexington, Massachusetts 02421, USA (“Concert”) and Avanir Pharmaceuticals, Inc., a Delaware corporation having offices
located at 20 Enterprise, Suite 200, Aliso Viejo, California 92656, USA (“Avanir”). Each of Concert and Avanir may be referred to hereinafter individually as a “Party” and together as the “Parties.”

 RECITALS 
 A.
Concert is a pharmaceutical company with expertise in the research and development of deuterated dextromethorphan. 
 B. Avanir is a
pharmaceutical company having the capability to continue pre-clinical research, develop, conduct clinical trials using, obtain regulatory approval for, manufacture, distribute, market and sell such products. 

AGREEMENT 

The Parties agree as follows: 
 ARTICLE 1 
 DEFINITIONS 

The following capitalized terms, when used in this Agreement, shall have the meanings ascribed to them or referenced in this Article
1: 
 1.1 “Affiliate” means, with respect to a first Person, any other Person that directly or
indirectly Controls, is Controlled by, or is under common Control with, such first Person. 
 1.2
“Agreement” has the meaning set forth in the preamble to this Agreement. 
 1.3
“Avanir” has the meaning set forth in the preamble to this Agreement. 
 1.4 “Blocking Third
Party Patent Rights” means, on a country-by-country basis, patent rights owned or controlled by a Third Party that, in the absence of a license thereunder, could reasonably be or is determined to be infringed by (i) the use, offer for
sale, sale or importation of any Licensed Product as it is formulated as of the Effective Date (“Blocking Third Party Product Rights”) or (ii) the manufacture of any drug substance within a Licensed Product as it is
manufactured as of the Effective Date or pursuant to a process developed by or on behalf of Concert during the Development Program (“Blocking Third Party Manufacturing Rights”). 

1.5 “Business Day” means a day other than a Saturday, Sunday, or bank or other public holiday in the United
States. 

  
 1 

 1.6 “Change of Control” means, with respect to a first Person, a
single transaction or series of related transactions pursuant to which another Person or group of Persons who did not Control such first Person before the transaction(s) do Control such first Person after the transaction(s). A Change of Control will
be presumed to occur to a first Person upon the occurrence of any of the following: (i) any other Person becomes the beneficial owner, directly or indirectly, of more than fifty percent (50%) of the voting securities of the first Person;
(ii) the sale or other disposition of all or substantially all of the assets of the Person; (iii) a consolidation or merger of the first Person with any other Person, other than a merger or consolidation which would result in the voting
securities of the first Person outstanding immediately prior thereto continuing to represent at least fifty percent (50%) of the total voting power represented by the voting securities of the Person outstanding immediately after such merger or
consolidation. 
 1.7 “Clinical Trial” means a human clinical study that is designed to
(i) investigate whether a Licensed Product is reasonably safe for continued testing, (ii) investigate the safety, efficacy, or pharmacokinetics of the Licensed Product for its intended use, and define warnings, precautions and adverse
reactions that may be associated with the Licensed Product in the dosage range to be prescribed, or (iii) support Regulatory Approval of such Licensed Product or label expansion of such Licensed Product, in each case conducted by or on behalf
of Avanir, its Affiliates, their respective sublicensees or any of their respective successors or assigns. 
 1.8
“Collaboration Technology” means all inventions, discoveries, data, trade secrets, information, compositions, materials (including chemical and biological materials), methods, processes, results, know-how and other information,
in each case specifically relating to D-DM, conceived, discovered, created or developed by either Party, or jointly by both Parties, in the course of activities conducted pursuant to a Development Plan before the First IND, excluding the
Collaboration Patents. 
 1.9 “Collaboration Patents” means all patent applications filed on any
invention or discovery within the Collaboration Technology, including any continuations, divisional, reissues or foreign counterparts thereof, and any patents issuing from any of the foregoing. 

1.10 “Concert” has the meaning set forth in the preamble to this Agreement. 

1.11 “Concert Patents” means all patents and patent applications owned by or licensed (with a right to sublicense
to Avanir as provided herein) to Concert at any time during the Term and claiming the composition, use, administration, manufacture of or a method involving a D-DM compound or composition, including the patents and applications listed on Schedule
1.11 and any continuations, divisional, reissues or foreign counterparts thereof, and any patents issuing from the priority application from which any of the foregoing was issued, excluding Collaboration Patents. Notwithstanding the foregoing,
with respect to any such patents or patent applications licensed by Concert from Third Parties after the Effective Date, such patents or patent applications shall be included in the Concert Patents only to the extent set forth in
Section 5.2.3 and only if Avanir agrees, pursuant to the process set forth in Section 5.2.3 or otherwise, to pay any royalties and other amounts payable to such Third Parties on account of the sublicensing thereof to Avanir
hereunder or Avanir’s exploitation of the sublicensed subject matter. 

  
 2 

 1.12 “Concert Technology” means all inventions, discoveries, data,
trade secrets, information, compositions, materials (including chemical and biological materials), methods, processes, results, know-how and other information, owned by or licensed (with a right to sublicense to Avanir as provided herein) to Concert
at any time during the Term and relating to D-DM, excluding Collaboration Technology, Collaboration Patents, and Concert Patents. Notwithstanding the foregoing, with respect to any such inventions, discoveries, data, trade secrets, information,
compositions, materials (including chemical and biological materials), methods, processes, results, know-how and other information licensed by Concert from Third Parties after the Effective Date, such inventions, discoveries, data, trade secrets,
information, compositions, materials (including chemical and biological materials), methods, processes, results, know-how and other information shall be included in the Concert Technology only to the extent set forth in Section 5.2.3 and only
if Avanir agrees, pursuant to the process set forth in Section 5.2.3 or otherwise, to pay any royalties and other amounts payable to such Third Parties on account of the sublicensing thereof to Avanir hereunder or Avanir’s
exploitation of the sublicensed subject matter. 
 1.13 “Competitive Infringement” has the meaning set
forth in Section 7.5.1. 
 1.14 “Confidential Information” means any information regarding
the business and operations of a Party or any of its Affiliates, that is or has been disclosed (whether orally or in writing) by such Party or its Affiliates (“Discloser”) to the other Party or its Affiliates
(“Recipient”) to the extent that such information is not (i) as of the date of disclosure to the Recipient, known to the Recipient (other than pursuant to an obligation of confidentiality to the Discloser); or
(ii) disclosed in published literature, or otherwise generally known to the public through no breach by the Recipient of this Agreement; or (iii) obtained by the Recipient from a Third Party free from any obligation of confidentiality to
the Discloser; or (iv) independently developed by the Recipient without use of the information disclosed to the Recipient by the Discloser. 
 1.15 “Control” including, its correlative meanings, “Controls”, “Controlled by” and “under common Control with” means the possession, directly or
indirectly, of the power to direct or cause direction of the management or policies of another Person (whether through ownership of securities or other ownership interests, by contract or otherwise). A first Person shall be presumed to Control
another Person if such first Person actually owns or has beneficial ownership of at least 50% of the voting securities or other comparable equity interests of such other Person (whether directly, indirectly or pursuant to any option, warrant or
other similar arrangement). 
 1.16 “D-DM” means the compounds described on Schedule 1.16.

 1.17 “[**]” means the compounds described on Schedule 1.17. 

1.18 “D-DM and Quinidine Milestone Event” has the meaning set forth in Section 6.3.1. 

1.19 “D-DM and Quinidine Milestone Event Payment” means the amounts set forth in Section 6.3.1
opposite the respective “Development Milestone”. 

  
 3 

 1.20 “D-DM and Quinidine Product” means a Licensed Product that
contains or is administered with quinidine in accordance with the approved label for such Licensed Product. 
 1.21
“D-DM Only Milestone Event” has the meaning set forth in Section 6.3.2. 
 1.22
“D-DM Only Milestone Event Payment” means the amounts set forth in Section 6.3.2 opposite the respective “Development Milestone”. 
 1.23 “D-DM Only Product” means a Licensed Product that is not a D-DM and Quinidine Product. 
 1.24 “Deuterated Products” means a compound, wherein for a given sample of the compound, the abundance of deuterium at one or more of the hydrogens of the compound is greater than
the natural abundance of deuterium. 
 1.25 “Development Plan” means a plan with estimated timelines
that sets forth the responsibilities of, and activities to be conducted by, each Party with respect to pre-clinical and clinical development of Licensed Products until the First IND and the development until First IND of manufacturing methods for
the commercial production of Licensed Products, as such plan may be revised or replaced from time to time in accordance with the terms hereof. Exhibit A contains an initial partial version of the Development Plan covering activities
through the First IND and will be timely updated and expanded by the JSC with respect to responsibilities and activities until the First IND. 
 1.26 “Development Program” means the pre-clinical and clinical development activities conducted by (or to be conducted by) each Party pursuant to a Development Plan. 

1.27 “Discloser” has the meaning set forth in the definition of Confidential Information. 

1.28 “Effective Date” has the meaning set forth in the preamble to this Agreement. 

1.29 “EMA” means the European Medicines Agency or any successor agency thereto. 

1.30 “EU” means the European Union. 
 1.31 “FDA” means the United States Food and Drug Administration or any successor agency thereto. 
 1.32 “FDCA” means the U.S. Federal Food, Drug, and Cosmetic Act, as amended, and the regulations promulgated thereunder. 

1.33 “First IND” means the first acceptance for filing of a submission by Avanir or any of its Affiliates or
sublicensees of an IND in the U.S., EU or Japan for any Licensed Product. 
 1.34 “FTE” means the
equivalent of one person working full time for one year, consisting of at least [**] hours in such year, whether such work is performed by one or multiple persons, on activities directly related to the Development Program. 

  
 4 

 1.35 “Governmental Authority” means any court, agency, department,
authority or other instrumentality of any international, national, regional, province, state, county, city or other political subdivision, including a Regulatory Authority. 
 1.36 “Initial pK and Safety Milestone” means the first to occur of: (i) demonstration of positive pharmacokinetic and safety results in a Clinical Trial conducted anywhere in
the world, as evidenced by demonstration of the following for a D-DM Product: a) steady-state area under the curve (AUC) plasma concentrations of a D-DM Product of at least [**] percent of the steady-state AUC plasma concentrations of the comparator
drug, and b) minimum plasma concentrations of a D-DM Product of at least [**]% of the minimum plasma concentrations of the comparator drug, and c) maximum plasma concentrations of a D-DM Product of no more than [**]-fold greater than the maximum
plasma concentrations of the comparator drug, and d) safety profile of a D-DM Product which is similar or more favourable to the comparator drug. For purposes of this definition, “steady-state AUC” shall be defined as plasma concentrations
following at least [**] days of dosing, “D-DM Product” shall mean either a D-DM Only Product or a D-DM and Quinidine Product, as applicable, and the comparator drug is [**] mg of dextromethorphan combined with [**] mg of quinidine
dosed with the same frequency as the D-DM Product; or (ii) initiation of first dosing of a patient in a Phase 2 Clinical Trial. 
 1.37 “IND” means an Investigational New Drug Application submitted under the FDCA or an analogous application or filing with any analogous Regulatory Authority outside of the
United States under any analogous foreign Law for the purposes of obtaining permission to conduct Clinical Trials in such jurisdiction. 
 1.38 “Indemnified Party” has the meaning set forth in Section 11.2. 
 1.39 “Indemnifying Party” has the meaning set forth in Section 11.2. 
 1.40 “Joint Patent Committee” has the meaning set forth in Section 2.2. 
 1.41 “Joint Steering Committee” has the meaning set forth in Section 2.1. 
 1.42 “Knowledge” with respect to Concert means the actual knowledge of the following individuals: [**] and all of Concert’s U.S. internal and external patent agents and
attorneys who have been involved in the prosecution, maintenance or enforcement of any of the Concert Patents. 
 1.43
“Launch” means the first commercial sale of a Licensed Product by Avanir, its Affiliate or its sublicensee to a Third Party in a country after receipt by Avanir, its Affiliate or its sublicensee of the first Regulatory Approval
for such Licensed Product in such country. 
 1.44 “Laws” means all laws, statutes, rules, regulations,
orders, judgments or ordinances of any Governmental Authority, as such may be revised from time to time. 
 1.45
“Licensed Products” means any product or composition that (i) contains a D-DM compound and (ii) that either (A) the manufacture, use, offer for sale, sale or importation of which is covered by a Valid Claim of any
Concert Patent or Collaboration Patent, (B) is developed, made, used or administered using a process covered by a Valid Claim of and Concert 

  
 5 

 
Patent or Collaboration Patent, or (C) is developed, made, used, sold or otherwise exploited using any of the Concert Technology or Collaboration Technology anywhere in the world. A Licensed
Product shall continue to be a Licensed Product following expiration of all such Valid Claims. 
 1.46
“Losses” means any and all costs, expenses, claims, losses, liabilities, damages, fines, royalties, governmental penalties or punitive damages, deficiencies, interest, settlement amounts, awards, and judgments, including any and
all reasonable, out-of-pocket costs and expenses properly incurred as a result of a claim (including reasonable, out-of-pocket attorneys’ fees and all other expenses reasonably incurred in investigating, preparing or defending any litigation or
proceeding, commenced or threatened), in each case, net of any tax benefit or insurance recovery received in connection with any of the foregoing. 
 1.47 “MHLW” means the Ministry of Health, Labour and Welfare of Japan and any successor thereto. 
 1.48 “NDA” means a New Drug Application submitted under the FDCA or an analogous application or filing with any analogous Regulatory Authority outside of the United States
(including any supra-national agency such as the European Union) under any analogous foreign Law for the purpose of obtaining approval to market and sell a pharmaceutical product in such jurisdiction. 

1.49 “Net Sales” means, with respect to sales of Licensed Products, on a country by country basis, the gross
amount invoiced by Avanir, its Affiliates and its sublicensees of such Licensed Products during the applicable Royalty Term, less: 
  

	 	(i)	allowances for sales actually paid, granted or accrued, including, trade, quantity and cash discounts and any other adjustments, including, those granted on account of
price adjustments, billing errors, rejected goods, damaged or defective goods, recalls, returns, rebates, chargeback rebates, reimbursements or similar payments granted or given to wholesalers or other distributors, buying groups, health care
insurance carriers, chain pharmacies, mass merchandisers, staff model HMO’s, pharmacy benefit managers, government health insurance programs, or other institutions, retailers’ adjustments arising from consumer discount programs, copay
discounts or other similar programs, and any other discounts or reductions required to comply with GAAP, 

  

	 	(ii)	portions of invoiced amounts written off as uncollectible in accordance with GAAP, 

 

	 	(iii)	payments for customs or excise duties, sales tax, consumption tax, value added tax, and other taxes (except income taxes) or duties that are separately reflected on the
applicable invoice, and 

  

	 	(iv)	freight and shipping insurance amounts that are separately reflected on the applicable invoice. 

  
 6 

 1.50 “Party” and “Parties” have the meanings set
forth in the preamble to this Agreement. 
 1.51 “Payment of the Phase 2 Milestone” means the payment by
Avanir to Concert of the first of either the D-DM and Quinidine Milestone Event Payment for the Phase 2 Milestone or the D-DM Only Payment for the Phase 2 Milestone as described in Sections 6.3.1 and 6.3.2. 

1.52 “Person” means any natural person, any form of for-profit or non-profit business entity recognized by any
Governmental Authority, including any corporation, partnership, limited liability company, association, or trust, or any Governmental Authority. 
 1.53 “Phase 2 Clinical Trial” means a Clinical Trial with a defined dose or a set of defined doses of a Licensed Product designed to generate initial efficacy and safety data for
such Licensed Product when tested in patients with a disease with the objective of demonstrating that the Licensed Product is reasonably safe and effective for continued testing. 

1.54 “Phase 2 Milestone” means initiation of first dosing of a patient in a Phase 2 Clinical Trial. 

1.55 “Phase 3 Clinical Trial” means a pivotal Clinical Trial with a defined dose or a set of defined doses of a
Licensed Product designed to generate, together with other previously conducted and/or then-planned Clinical Trials, sufficient data regarding the efficacy and safety of such Licensed Product when tested in patients with a disease with the objective
of enabling the preparation and submission of an NDA. 
 1.56 “Recipient” has the meaning set forth in
the definition of Confidential Information. 
 1.57 “Regulatory Approval” means, with respect to any
jurisdiction, any and all approvals or authorizations of a Regulatory Authority that are legally necessary for the commercial manufacture, distribution, use, marketing or sale of a pharmaceutical in such jurisdiction, including, as applicable, any
associated regulatory or data exclusivity associated with such approvals or authorizations. 
 1.58 “Regulatory
Authority” means, with respect to any jurisdiction, the Governmental Authority having responsibility for granting Regulatory Approvals in such country or jurisdiction, including the FDA in the U.S., the EMA in the European Union and the
MHLW in Japan. 
 1.59 “Representatives” means with respect to a Party, such Party’s Affiliates,
and each of their respective officers, directors, managers, employees, consultants, contractors, sublicensees and agents. 

1.60 “Restricted Indication” means pseudobulbar affect (also known as emotional lability in some regulatory
jurisdictions), or behavioural symptoms in dementia patients. 
 1.61 “Royalty Term” has the meaning set
forth in Section 6.4.1. 

  
 7 

 1.62 “Tax” or “Taxes” has the meaning set forth in
Section 6.9.1. 
 1.63 “Term” has the meaning set forth in Section 10.1.

 1.64 “Third Party” means any person or entity other than Avanir or Concert or their respective
Affiliates. 
 1.65 “Third Party Claim” has the meaning set forth in Section 11.2.

 1.66 “Valid Claim” means either (i) an issued, unexpired patent claim within the Concert Patents
or Collaboration Patents that has not been permanently declared invalid or unenforceable by a Governmental Authority of competent jurisdiction or (ii) a pending claim within the Concert Patents or Collaboration Patents that has not been pending
more than [**] years from the date of filing of the first patent application to which such pending claim claims priority and that has not been irrevocably determined to be unpatentable by a Governmental Authority of competent jurisdiction.

 ARTICLE 2 
 JOINT COMMITTEES AND REPORTING 
 2.1 Joint Steering Committee.

 2.1.1 The Parties hereby establish a committee (the “Joint Steering Committee” or the
“JSC”) to review the Development Program and oversee progress of the activities conducted thereunder until the First IND and facilitate the sharing of information between the Parties with respect to such activities. 

2.1.2 The JSC shall be comprised of [**] Representatives of Avanir and [**] Representatives of Concert. Each Party shall make its
designation of its Representatives within [**] days following the Effective Date, and each Party may substitute one or more of its Representatives, in its sole discretion, effective upon notice to the other Party of such change. [**] shall appoint
one of its Representatives to be the chairperson of the JSC. 
 2.1.3 The JSC shall meet within [**] days after the Effective
Date and, thereafter, [**] until the First IND. The chairperson of the JSC shall be responsible for calling meetings of the JSC and for leading the meetings. Each Party may have in attendance one or more other non-voting employees or other
Representatives from time to time, by written consent of the Parties, with such consent not to be unreasonably withheld or delayed, subject to any such Representative’s written agreement to comply with requirements of confidentiality and
non-use at least as stringent as those set forth in Article 9. The location of meetings of the JSC shall alternate between Avanir’s principal place of business and Concert’s principal place of business, or as otherwise agreed by the
Parties. The JSC may also meet by means of a telephone conference call or videoconference. The chairperson may convene a special meeting of the JSC for the purpose of resolving disputes of the JSC or the JPC. 

2.1.4 Avanir shall bear its own costs and expenses related to its participation in the JSC. Except as provided in
Section 6.2, Concert shall bear its own costs and expenses associated with its participation in the JSC. 

  
 8 

 2.1.5 The JSC has the authority to amend or replace the Development Plan from time to time.
The JSC is intended to serve primarily as a forum to facilitate the exchange of information and for each Party to provide suggestions to the other as to the conduct of activities to be conducted under the Development Plan. 

2.2 Joint Patent Committee. 
 2.2.1 The Parties hereby establish a committee (the “Joint Patent Committee” or the “JPC”) to discuss all patent matters relating to the Concert Patents and Collaboration
Patents and to ensure each Party has a reasonable opportunity to review, comment and cooperate in the preparation, prosecution, maintenance, and enforcement of the Concert Patents and Collaboration Patents. 

2.2.2 The JPC shall be comprised of [**] Representatives of Avanir and [**] Representatives of Concert. Each Party shall make its
designation of its Representatives within [**] days following the Effective Date, and each Party may substitute one or more of its representatives, in its sole discretion, effective upon notice to the other Party of such change. [**] shall appoint
one of its Representatives to be the chairperson of the JPC. 
 2.2.3 The chairperson of the JPC shall call meetings of the JPC
as needed and upon the request of either Party. The location of meetings of the JPC shall alternate between Avanir’s principal place of business and Concert’s principal place of business, or as otherwise agreed by the Parties. The JPC may
also meet by means of a telephone conference call or videoconference by mutual agreement of the Parties. 
 2.2.4 Avanir shall
bear its own costs and expenses related to its participation in the JPC. Concert shall bear its own costs and expenses related to its participation in the JPC. 
 2.3 Committee Decisions. 
 2.3.1 The intent of the JSC and JPC is to
use reasonable efforts to achieve, and then act, by consensus of the members of the JSC or JPC, as applicable, on all issues properly before the committee for decision. If the JSC or JPC is unable to reach consensus on an issue properly before it,
then the matter will be referred to the Chief Executive Officers of the Parties for resolution. Upon referral of a matter to the Parties’ respective Chief Executive Officers for resolution, such officers shall promptly, and in any case within
[**] days, meet to discuss the matter and seek a mutually acceptable resolution. Such meeting shall be in person unless otherwise agreed by the Parties. If the Parties’ respective Chief Executive Officers are not able to resolve the matter by
mutual agreement within [**] days after such meeting, then the matter will, after reasonable consideration of the views of Concert that were made known to the JSC before the referral to the Chief Executive Officers or made know to Avanir’s
Chief Executive Officer by Concert’s Chief Executive Officer, be made by the chairperson of the committee; provided however, that (i) no such decision may require Concert to provide resources beyond those Concert is required to
provide pursuant to this Agreement or the Development Plan, as it exists on the Effective Date, and (ii) no such decision may be inconsistent with the express terms of Articles 1 - 12 of this Agreement, be used to
unilaterally amend this Agreement (except for the Development Plan in accordance with the foregoing process), or resolve any dispute between the 

  
 9 

 
Parties as to their respective rights and obligations under this Agreement (except for disputes among the members of the JSC or JPC, as applicable, on issues properly before the committee for
decision as provided in this Section 2.3.1). 
 2.4 Reporting. 

2.4.1 Every [**] months after the First IND until Payment of the Phase 2 Milestone, and thereafter every [**] months until the first
Regulatory Approval of a Licensed Product by the FDA or EMA Avanir shall provide Concert with a written summary report of the Development Program. The written report shall at a minimum include the following: (a) a summary of activities
completed during the reporting period, (b) an updated [**] general timeline for the Development Program, including expected dates for top-line trial data, (c) an outline of any clinical study to be conducted in the forthcoming [**] months
of detail and scope similar to those typically submitted on clinicaltrials.gov and (d) clinical trial enrollment information, and such other information reasonably necessary for Concert to monitor the progress of the Development Program
(“Progress Report”). 
 2.4.2 Within [**] after the Progress Report is provided to Concert, the Parties shall meet in
person or by telephone to discuss the Progress Report. 
 ARTICLE 3 

DEVELOPMENT PROGRAM 
 3.1 Disclosure of Technology. 
 Within [**] days after the Effective
Date, Concert will use commercially reasonable efforts to disclose to Avanir or its designated Affiliate all Concert Technology Controlled by Concert as of the Effective Date that may be reasonably necessary or useful to Avanir to develop,
manufacture, seek or obtain Regulatory Approval for, or commercialize Licensed Products and efficiently exploit the rights and licenses granted to Avanir under this Agreement. In addition, from time-to-time throughout the Term, and at any time
during the Term at the reasonable request of Avanir, Concert will use commercially reasonable efforts to disclose to Avanir or its designated Affiliate all Concert Technology required to be disclosed to Avanir pursuant to Section 5.2.3.
Without limiting the foregoing, Concert will, to the extent in the possession of Concert’s internal and external U.S. patent attorney(s) or agent(s) that have been involved in prosecution of the Concert Patents and Concert employees that have
been involved in the prosecution of the Concert Patents, use commercially reasonable efforts to disclose to Avanir for each of the Concert Patents: invention disclosures, prior art search results and related memoranda and patentability opinions or
evaluations, validity and enforceability searches and opinions or evaluations, freedom to operate searches and opinions or evaluations, and correspondence with and interview notes or other notes regarding communications with any of the inventor(s),
in each case where such information relates to D-DM, but excluding such information that is specific to [**]. To the extent not provided before the Effective Date, Concert will use commercially reasonable efforts to provide the foregoing that exists
on the Effective Date within [**] days after the Effective Date. With respect to any such new information created after the Effective Date, where such information relates to D-DM, but excluding such information that is specific to [**], Concert
shall use commercially reasonable efforts to provide it within [**] after request by Avanir therefor from time to time throughout the Term. 

  
 10 

 3.2 Purpose of Development Program. 

Concert and Avanir will conduct the Development Program and any other activities agreed upon by the Parties. The goal of the Development
Program is to: (i) complete pre-clinical research of Licensed Products; (ii) evaluate the potential to advance one or more Licensed Products through clinical research; and (iii) file an IND and achieve the development and regulatory
milestones set forth herein for a Licensed Product. Concert shall use commercially reasonable efforts to conduct and complete the activities assigned to Concert under the Development Plan within the time frame and budget specified for each such
activity. 
 3.3 Development Program Costs. 

Avanir will be responsible for the costs of all of Avanir’s activities conducted under the Development Program as well as any costs
and expenses payable to any Third Party contractors executing any activities under the Development Program. Except as specified in Section 6.2, Concert shall be responsible for all of the costs and expenses associated with Concert’s
activities under the Development Program. 
 3.4 Regulatory Affairs. 

3.4.1 As between the Parties, Avanir shall be responsible for preparing, seeking, submitting and maintaining all INDs, NDAs and other
regulatory filings and Regulatory Approvals for each Licensed Product, including preparing all reports necessary as part of a regulatory filing or Regulatory Approval and for all communications with Regulatory Authorities, in each case in the name
of Avanir or its Affiliate or sublicensee. 
 3.4.2 Each Party shall immediately notify the other Party upon receiving
information concerning any serious adverse event involving a Licensed Product and shall provide to such other Party, unless prohibited by applicable Law or contract with a Third Party, a copy of: (i) all relevant adverse event reports which it
submits to any Regulatory Authority in respect of the Licensed Product, and (ii) any other information relating to such adverse event as the other Party may reasonably request to comply with its pharmacovigilance obligations with respect to
Licensed Products. 
 3.4.3 As between the Parties, Avanir shall have the sole right to apply for and secure Regulatory
Approvals for the Licensed Products that may be available under the Law of any country, including any data or market exclusivity periods, in each case in Avanir’s or its Affiliates or sublicensee’s own name. Concert shall in good faith
cooperate with Avanir and such Affiliates and sublicensee(s) and take reasonable actions to assist Avanir and such Affiliates and sublicensee(s) in obtaining such Regulatory Approvals in each country. 

3.4.4 Concert shall cooperate with Avanir as reasonably requested from time to time (and subject to reimbursement in accordance with
Section 6.2) in connection with Avanir seeking and obtaining Regulatory Approval for Licensed Products, including providing data within the Concert Technology in the form as may be requested by Avanir from time to time for disclosure to
Regulatory Authorities. 

  
 11 

 3.5 Publication of Clinical Trial Results. 

Notwithstanding anything to the contrary in Article 8, Avanir may publish any data within the Concert Technology, Collaboration
Technology or otherwise resulting from Clinical Trials conducted on a Licensed Product, subject to the JSC’s review and approval of all such proposed publications before First IND, and thereafter in Avanir’s discretion without review by
the JSC or Concert. Avanir shall send a draft manuscript of any such publication proposed to be published before the First IND of a Licensed Product by FDA or EMA to Concert for review at least [**] days before the date on which Avanir plans to
submit the proposed submission for publication, and as to any such proposed publications before First IND Concert may provide comments thereon to Avanir. If Concert has any comments as to any such proposed publications before First IND, Concert
shall provide its written comment on the publication within [**] days from receipt of the draft. Avanir shall, to the extent permitted under applicable Laws, reasonably consider all such comments from Concert as to any such proposed publications.
Any dispute over any such proposed publications shall be resolved by the chairperson of the JSC. 
 3.6 Development
Recordkeeping and Access. 
 3.6.1 Concert will prepare and maintain, and shall require all approved subcontractors
to keep, accurate records and books relating to the actual costs and expenses of its activities under a Development Plan and otherwise in relation to the development of Licensed Products. From time-to-time throughout the Term (but not more than
[**]) at the reasonable request of Avanir, Concert will allow Avanir, Avanir’s designated Affiliate or Avanir’s designated Third Party to audit the records and books related to the costs and expenses of Concert, its Affiliates and their
subcontractors’ activities in relation to the development of any Licensed Product. 
 3.6.2 Concert will prepare and
maintain, and shall require all approved subcontractors to keep, accurate records and books relating to the progress and status of its activities under each Development Plan and otherwise in relation to the development of Licensed Products,
including all Collaboration Technology. From time-to-time throughout the Term (but not more than [**]) upon reasonable advance notice by Avanir, Concert will disclose to or permit direct access to, during regular business hours, Avanir,
Avanir’s designated Affiliate or Avanir’s designated Third Party to all records, books and data of Concert, its Affiliates and their subcontractors related to the foregoing. 

3.7 Compliance with Laws. 
 Each Party shall, and shall cause its Affiliates and its and their respective Representatives and subcontractors to, use commercially reasonable efforts to comply strictly with all applicable Laws in
connection with the Development Program, including, as applicable, the FDCA and associated rules and regulations, including current Good Clinical Practices, current Good Laboratory Practices, and current Good Manufacturing Practices, the United
States Health Insurance Portability and Accountability Act of 1996 and its applicable rules and regulations, the U.S. Occupational Safety and Health Act and its applicable rules and regulations, and foreign equivalents thereto. 

  
 12 

 3.8 Manufacturing Oversight by Concert. 

Until First IND, Concert shall use commercially reasonable efforts to identify potential manufacturers for Licensed Products in bulk
form, to assist Avanir in negotiating the commercial terms of supply of the same to Avanir and Avanir’s designated compounder(s) and finisher(s), and to oversee such manufacturers’ supply of same in quantities reasonably necessary to
conduct the activities specified in the Development Program, in each case subject to reimbursement in accordance with Section 6.2. Except as specified in the preceding sentence, as between the Parties, Avanir shall be responsible for the
manufacture (itself or through one or more Third Party manufacturer(s)) of Licensed Products. Nothing in this Section shall be construed as providing Concert with the right or authority to enter any contract on behalf of Avanir or any of
Avanir’s Affiliates, whether as an agent, distributor, partner or otherwise, Concert shall not hold itself out to any Third Party as having such authority or right, and Concert shall not attempt to enter any contract or other binding obligation
on behalf of Avanir or any of Avanir’s Affiliates. 
 ARTICLE 4 

CERTAIN COVENANTS 
 4.1 Diligence Obligation of Avanir. 
 Avanir shall attempt to
develop and commercialize Licensed Products for at least [**] indications in the U.S. and [**] in each of the EU and Japan; provided, however, that such obligation shall be [**] in the US automatically upon the filing of an NDA by Concert, its
Affiliate or any of their respective licensee or sublicensees for a [**] for the treatment of any indication for which Avanir previously has obtained Regulatory Approval of a Licensed Product. Avanir shall do so using the resources and efforts that
a biopharmaceutical company of similar size and resources as Avanir would normally apply to a program at a similar stage of development and with similar commercial and market potential. 

4.2 Exclusivity. 
 4.2.1 Neither Party shall, and each Party shall cause its Affiliates not to, research, develop or commercialize any product containing D-DM, other than a Licensed Product as permitted in connection with
this Agreement. Neither Party shall, and each Party shall cause its Affiliates not to, grant or offer to grant a license under any D-DM-specific technology or patents, or work independently or with or for the benefit of itself or any Third Party,
with respect to the research, development or commercialization of any product containing D-DM, other than a Licensed Product as permitted in connection with this Agreement. 
 4.2.2 Subject to Section 4.2.3, Concert shall not, and shall cause its Affiliates not to, develop or commercialize any product that contains a [**] for treatment of any Restricted Indication. Subject
to Section 4.2.3, Concert shall not, and cause its Affiliates not to, grant or offer to grant a license under any [**] technology or patents to develop or commercialize any product that is a [**] for the treatment of any Restricted Indication.
Concert shall not, and shall cause its Affiliates not to, research, develop, or commercialize any product that is, prior to its 

  
 13 

 
administration in humans or animals, a deuterated metabolite of [**]. Concert shall not, and shall cause its Affiliates not to, grant or offer to grant a license under any [**] technology or
patents for any product that is, prior to its administration in humans or animals, a deuterated metabolite of [**]. For the avoidance of doubt, Concert or its licensee(s) shall have the right to conduct any research, development or commercialization
activities with a [**] for any indication other than a Restricted Indication. 
 4.2.3 Notwithstanding Section 4.2.2,
Concert and its Affiliates and licensees may research, develop or commercialize, on a country-by-country basis, any product that contains a [**] for treatment of a Restricted Indication if: 

 

	 	(a)	for each Restricted Indication, over a period of [**] consecutive years, Avanir has not evaluated [**] in a patient population in a Restricted Indication; and

  

	 	(b)	no [**] is being actively commercialized by Avanir for the Restricted Indication. 

4.3 Supply of Deuterium. 
 If and to the extent permitted in accordance with all applicable Laws and commercially beneficial to both Parties, Avanir and Concert may join in the purchase of deuterium or deuterium-containing starting
materials, intermediates or reagents useful for the manufacturing of Licensed Products, including for use in connection with Licensed Products or other Deuterated Products, in each case at such time and upon such terms as may be agreed in writing by
the Parties. 
 ARTICLE 5 
 INTELLECTUAL PROPERTY OWNERSHIP AND LICENSES 
 5.1 Ownership Of New
Technology and Patents. 
 5.1.1 Inventorship of all inventions and discoveries conceived, reduced to practice,
discovered or made pursuant to this Agreement, whether or not patentable, shall be determined in accordance with U.S. patent laws. Authorship of all works created pursuant to the Development Program shall be determined in accordance with United
States copyright laws. 
 5.1.2 As between the Parties, Avanir shall be the owner of all Collaboration Patents, the inventions
and discoveries claimed therein, and Collaboration Technology, whether conceived, reduced to practice, discovered or made: (i) solely by Concert or its Representatives, (ii) jointly by at least one of Concert or its Representatives with at
least one of Avanir or its Representatives, or (iii) solely by Avanir and its Representatives. In addition, Avanir shall be the owner of all reports prepared by Concert regarding either or both of the Parties’ activities under the
Development Program. Concert agrees to assign, and hereby does assign, to Avanir all of the Collaboration Patents and Collaboration Technology and reports prepared by Concert regarding either or both of the Parties’ activities under the
Development Program. 

  
 14 

 5.1.3 As between the Parties, ownership of all other inventions and discoveries conceived,
reduced to practice, discovered or made or created during the Term of this Agreement shall be determined consistent with inventorship, as determined pursuant to Section 5.1.1. 

5.1.4 Each Party shall (i) execute all further instruments to document, record or perfect the Party’s respective ownership
consistent with this ARTICLE 5 as reasonably requested by the other Party, and shall cause its respective Representatives to do the same, and (ii) make its Representatives available to the other Party and its Representatives as
reasonably requested in connection with the owner’s protection thereof, including seeking patents. 
 5.2 Concert
Grants. 
 5.2.1 Concert grants to Avanir an exclusive, royalty-bearing license, including the right to sublicense,
under the Concert Patents, to make, use, offer for sale, sell and import Licensed Products worldwide. 
 5.2.2 Concert grants to
Avanir an exclusive, royalty-bearing license, including the right to sublicense, under Concert’s rights in the Concert Technology, to use, copy, distribute and create derivative works of Concert Technology to make, use, offer for sale, sell and
import Licensed Products worldwide. 
 5.2.3 If Concert first obtains a license after the Effective Date from any Third Party
for any patents or technology that is/are reasonably necessary for the exploitation of Licensed Products and that include(s) the right to sublicense consistent with Sections 5.2.1 or 5.2.2, then Concert shall notify Avanir accordingly,
including any royalties and other amounts that would be payable to the Third Party associated with the sublicensing thereof to Avanir hereunder or Avanir’s exploitation of the Licensed Products in connection with this Agreement. Avanir may
elect by notice to Concert whether Avanir desires to obtain such sublicense. If Avanir so elects, the subject patents or technology shall be deemed Concert Patents or Concert Technology, as applicable, and thereafter Avanir shall be responsible for
all associated royalties due to the Third Party for Avanir’s exploitation of the sublicensed subject matter, subject in the case of Blocking Third Party Patent Rights to Section 6.4.4. 

5.3 Avanir Grants. 
 5.3.1 Avanir grants to Concert a non-exclusive, royalty-free, license, under all patents and patent applications owned by or licensed (with a right to sublicense to Concert as provided herein, including
the Concert Patents) to Avanir, to make, use, and import Licensed Products solely to the extent required by Concert to fulfil its obligations under the Development Program. 
 5.3.2 Avanir grants to Concert a non-exclusive, royalty-free, license, under all technology owned by or licensed (with a right to sublicense to Concert as provided herein, including the Concert
Technology) to Avanir, to use, copy, distribute and create derivative works of such technology to make, use, and import Licensed Products solely to the extent required by Concert to fulfil its obligations under the Development Program. 

  
 15 

 5.4 Sublicense. 

The licenses granted under Sections 5.2 and 5.3 include the right of the licensee to sublicense without consent upon the following
conditions: 
  

	 	(i)	the sublicense be granted in writing; 

  

	 	(ii)	the sublicense terminate automatically upon termination of the underlying license granted pursuant to this Agreement; 

 

	 	(iii)	the sublicense not purport to grant more rights in the subject matter licensed than granted pursuant to this Agreement; 

 

	 	(iv)	the sublicense granted by Avanir under the license granted to it in Section 5.2 include obligations of the sublicensee substantially similar to those as if
sublicensee were Avanir in Sections 3.4.2, 3.5, 3.7, 5.5, 6.8.1, 8.1, 8.2, 11.1.2(iii), 11.2, 12.8 and 12.9, impose diligence obligations upon the sublicensee to enable Avanir to comply with its obligations under Section 4.1 commensurate
with the scope of the rights sublicensed, and if Avanir grants the sublicensee the further right to sublicense, then the requirement such sub-sublicenses contain provisions consistent with this Section 5.4, and if the sublicense grants
any rights associated with development of Licensed Products or otherwise to the extent such provisions are reasonably applicable to the scope of the sublicense granted, then also Section 10.3.3 and subsections (a), (b), (e) (first
sentence), (h), (i), (k), (l) and (m) of Section 10.3.4, and, if Avanir extends to the sublicensee any of the rights in Sections 7.1, 7.2, 7.3, or 7.5 with respect to any of the Concert Patents or the Collaboration
Patents, then the sublicense must include the obligations in such Sections for such Concert Patents or Collaboration Patents; 

  

	 	(v)	the sublicense granted by Concert under the license granted to it in Section 5.3 may not be granted without the advance written consent of Avanir; and

  

	 	(vi)	a copy of the sublicense agreement (redacted for competitively sensitive information) as executed by the parties thereto is provided to the licensor (under this
Agreement of the rights sublicensed) promptly after its execution by both parties thereto. 

 Any sublicense desired to be granted
by Avanir upon conditions other than or that does not include the foregoing requires consent of Concert, such consent not to be unreasonably withheld. Avanir shall also use good faith efforts to negotiate provisions substantially similar to those in
subsections (c), (d), (f), (g) and (j) in Section 10.3.4 to the extent such provisions are reasonably applicable to the scope of the sublicense granted. 
 5.5 Reservation of Rights. 
 Except as expressly stated in this
Agreement, no rights or licenses are granted under this Agreement by either Party or its Affiliates under any intellectual property of such Party or its Affiliates to the other Party or its Affiliates, whether by implication, estoppel or otherwise,
and all such rights not expressly granted are hereby reserved by each Party and its Affiliates. 

  
 16 

 ARTICLE 6 
 LICENSE FEES AND PAYMENTS 
 6.1 License and Access Fee.

 Within [**] days after the Effective Date, Avanir shall pay to Concert a one-time, non-refundable and non-creditable
upfront license fee of Two Million United States Dollars ($2,000,000.00). 
 6.2 Concert Development Program Costs.

 6.2.1 Avanir will be responsible for the costs of all of Avanir’s activities conducted under the Development Program
as well as any costs and expenses payable to any Third Party contractors executing any activities under the Development Program. Avanir will pay Concert for Concert’s activities actually conducted under the Development Program or conducted at
Avanir’s request pursuant to Section 3.4.5 or Section 3.8 at the rate of [**] U.S. Dollars ($[**]) per FTE (prorated for partial FTEs as appropriate) until First IND, subject in the case of Development Plan activities to
the maximum amount of FTEs to be reimbursed for each of Concert’s activities specified in the Development Plan. After First IND, any additional activities undertaken in the Development Program or conducted at Avanir’s request pursuant to
Section 3.4.5 or Section 3.8 by Concert would be upon written agreement of the Parties, but at the rate of [**] U.S. Dollars ($[**]) per FTE. 
 6.2.2 Within [**] days after the end of each calendar quarter during the Development Program, and once within [**] days after the end of the Development Program, Concert shall send an invoice to Avanir,
in reasonable detail the amount of time actually worked by Representatives of Concert on the Development Program during the subject reporting period (including, for each person, the hours spent per week reported for the applicable category (such as
process chemistry, analytical development, and CMC management, project management and regulatory and clinical operations support)) and for which Concert seeks reimbursement consistent with the terms of this Agreement, the total quantity of FTEs due,
the total amount due at the applicable rate per FTE (prorated as applicable), and any Third Party expenses incurred during a calendar quarter during the subject reporting period for which it seeks reimbursement consistent with the terms of this
Agreement. Avanir shall pay all such amounts properly invoiced within [**] days of receipt of invoice. 

  
 17 

 6.3 Development Milestone Payments. 

6.3.1 Avanir shall notify Concert within [**] Business Days of the occurrence of each of the following events indicated in Table 6.3.1
below as a “Development Milestone” in connection with a D-DM and Quinidine Product, (each such event a “D-DM and Quinidine Milestone Event”). Provided that Avanir has not made a D-DM Only Milestone Event Payment for the
corresponding D-DM Only Milestone Event, Avanir shall pay to Concert the “Milestone Payment” set forth in Table 6.3.1 below corresponding to a D-DM and Quinidine Milestone Event within [**] days
after the occurrence of such D-DM and Quinidine Milestone Event (each such payment, a “D-DM and Quinidine Milestone Event Payment”). 
 Table 6.3.1: D-DM and Quinidine Product 
  

													
	 	  	Milestone
Payment 
1st
Indication (in
millions)	 	  	Milestone
Payment 1st
Label
Expansion (in
millions)	 	  	Milestone
Payment
Additional
Label
Expansion (in
millions)	 
	 Development Milestones
	  				  				  			
	 Initial pK and Safety Milestone
	  	$	2.0	  	  	 	—  	  	  	 	—  	  
	 Phase 2 Milestone
	  	$	2.0	  	  	 	—  	  	  	 	—  	  
	 First actual dosing of a patient in Phase 3 Clinical Trial
	  	$	 2.0	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	—  	  	  	 	[**]	  	  	 	[**]	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	—  	  	  	 	[**]	  	  	 	[**]	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	—  	  	  	 	[**]	  	  	 	[**]	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Subtotal - Development Milestones
	  	$	27.5	  	  	$	10.0	  	  	$	5.5	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 6.3.2 Avanir shall notify Concert within [**] Business Days of the occurrence of each of the following
events indicated in Table 6.3.2 below as a “Development Milestone” in connection with a D-DM Only Product, (each such event a “D-DM Only Milestone Event”). 

Table 6.3.2: D-DM Only Product 
  

													
	 	  	Milestone
Payment
1st
Indication (in
millions)	 	  	Milestone
Payment 1st
Label
Expansion (in
millions)	 	  	Milestone
Payment
Additional
Label
Expansion (in
millions)	 
	 Development Milestones
	  				  				  			
	 Initial pK and Safety Milestone
	  	$	2.0	  	  	 	—  	  	  	 	—  	  
	 Phase 2 Milestone
	  	$	6.0	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	—  	  	  	 	[**]	  	  	 	[**]	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	—  	  	  	 	[**]	  	  	 	[**]	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
	 [**]
	  	 	—  	  	  	 	[**]	  	  	 	[**]	  
	 [**]
	  	 	[**]	  	  	 	—  	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Subtotal - Development Milestones
	  	$	56.0	  	  	$	19.0	  	  	$	11.0	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

  
 18 

 (i) If Avanir has not made a D-DM and Quinidine Milestone Event Payment for a D-DM and
Quinidine Milestone Event that corresponds to a D-DM Only Milestone Event, then Avanir shall pay to Concert the “Milestone Payment” set forth in Table 6.3.2 above corresponding to a D-DM Only Milestone Event within [**] days after the
occurrence of such D-DM Only Milestone Event (each such payment, a “D-DM Only Milestone Event Payment”). 

(ii) If Avanir has made a D-DM and Quinidine Milestone Event Payment for the corresponding D-DM and Quinidine Milestone Event and
thereafter the corresponding D-DM Only Milestone is achieved, then Avanir shall only pay to Concert the difference in the “Milestone Payment” set forth in Table 6.3.2 above corresponding to the D-DM Only Milestone Event minus the
previously paid “Milestone Payment” set forth in Table 6.3.1 above corresponding to the D-DM and Quinidine Milestone Event within [**] days after the occurrence of such D-DM Only Milestone Event. 

6.4 Royalty Payments on Sales. 
 6.4.1 Avanir shall pay to Concert royalties on Net Sales of each Licensed Product on a country by country basis until the later of (i) the last to expire Valid Claim covering the manufacture, use,
offer for sale, sale or importation of the Licensed Product in the country or (ii) ten (10) years after Launch of the Licensed Product in the country (“Royalty Term”). Upon expiration of the applicable Royalty Term,
provided that all such royalties are made by Avanir to Concert based on Net Sales occurring during the Royalty Term, the license granted for such Licensed Product in such country shall be deemed fully paid up, irrevocable and non-terminable.

 6.4.2 Subject to Section 6.4.3, as to Net Sales made during the Royalty Term, Avanir shall pay to Concert as
follows: 
 (i) [**]% of Net Sales for the portion of Net Sales of Licensed Products less than [**] U.S. Dollars ($[**]) in
each calendar year; plus 
 (ii) [**]% of Net Sales for the portion of Net Sales of Licensed Products greater than or equal to
[**] U.S. Dollars ($[**]) and less than or equal to [**] U.S. Dollars ($[**]) in each calendar year; plus 
 (iii) [**]% of Net
Sales for the portion of Net Sales of Licensed Products greater than [**] U.S. Dollars ($[**]) in each calendar year. 
 6.4.3
On a Licensed Product-by-Licensed Product and country-by-country basis, the royalty rates set forth above in Section 6.4.2 shall be reduced to [**]% of the otherwise applicable rate as to Net Sales occurring during any period within the
Royalty Term when no Valid Claim of a Concert Patent or a Collaboration Patent covers the manufacture, use, offer for sale, sale or importation of such Licensed Product in such country. 

  
 19 

 6.4.4 On a Licensed Product-by-Licensed Product and country-by-country basis, upon approval
of an NDA by Concert, its Affiliate or any of their respective licensees or sublicensees for a [**] for the treatment of any indication for which Avanir previously has obtained Regulatory Approval of a Licensed Product, the royalty rates applicable
pursuant to Sections 6.4.2 and 6.4.3 shall be reduced to [**]% of the otherwise applicable rates thereunder (for all Net Sales of such Licensed Products in such country occurring after such filing). 

6.4.5 If (a) Avanir agrees pursuant to Section 5.2.3 to pay the royalties and other amounts payable by Concert to its
licensor for the sublicense of rights to Blocking Third Party Patent Rights granted to Avanir hereunder with respect to the exploitation of any Licensed Product(s) in one or more country(ies), (b) Avanir or its Affiliate determines in good
faith that in order to avoid infringement of any Blocking Third Party Patent Rights not licensed to it hereunder it is advisable to obtain a license from any Third Party(ies) to exploit any Licensed Product(s) in one or more country(ies), or
(c) Avanir or its Affiliate is required by an order, judgment or similar action of a Governmental Authority to pay royalties or other amounts for the exploitation of any Licensed Product(s) in one or more country(ies) due to infringement of
Blocking Third Party Patent Rights, then Avanir may deduct from the royalties otherwise due pursuant to Sections 6.4.1 - 6.4.3 for such Licensed Product(s) in such country(ies), [**] percent ([**]%) of any royalties or other amounts payable
by Avanir or its Affiliates to such Third Party(ies) during the applicable royalty reporting period for Blocking Third Party Product Rights and [**] percent ([**]%) of any royalties or other amounts for Blocking Third Party Manufacturing Rights;
provided, however, that in no event will the deduction(s) and reduction(s) permitted under this Section and under Section 6.4.3 in the aggregate reduce by more than [**] percent ([**]%) the royalties otherwise due pursuant to Sections
6.4.1 and 6.4.2 for such Licensed Product(s) in such country(ies) during the royalty reporting period. 
 6.4.6 Avanir shall
provide a report to Concert with the Net Sales of each Licensed Product in each country and shall make the royalty payment described in Sections 6.4.1 - 6.4.5 above within [**] days after the end of the each calendar quarter of the Royalty
Term, provided, however, that such report and payment shall be made after the last fiscal quarter of each fiscal year of Avanir within the first to occur of: (a) [**] days after Avanir’s public year end earnings announcement or
(b) [**] days after such fiscal quarter. Such royalty reports shall provide, on a Licensed Product-by-Licensed Product and country-by-country basis, invoiced amounts during the reporting period, deductions from such invoiced amounts by
allowable category applied in the calculation of Net Sales during the reporting period, Net Sales during the reporting period, and the calculation of the resulting royalty payment due through the end of the reporting period. 

6.5 Sales Milestone Payments. 
 Avanir shall pay to Concert the “Payment” set forth in Table 6.5 below within [**] days after the achievement of the corresponding “Sales Milestone” identified below. The
“Threshold” for purposes of such payments is the cumulative Net Sales of all Licensed Products in all countries in a given calendar year. For the avoidance of doubt, Avanir shall only be required to pay Sales Milestones #1, #2 and #3 once
during the Term of this Agreement. Each Sales Milestone payment shall become payable based on the first occurrence of cumulative Net Sales in a calendar year that equals or exceeds the applicable threshold, regardless of whether or not any other
Sales Milestone is first achieved in the same calendar year. 

  
 20 

 Table 6.5: Sales Milestones 

 

									
	 	  	Payment (in millions)	 	  	Threshold	 
	 Sales Milestones
	  				  			
	 Sales Milestone #1
	  	 	[**]	  	  	 	[**]	  
	 Sales Milestone #2
	  	 	[**]	  	  	 	[**]	  
	 Sales Milestone #3
	  	 	[**]	  	  	 	[**]	  
		  	  
	  
	 	  	  
	  
	 
	 Subtotal - Sales Milestones
	  	$	125.0	  	  			
		  	  
	  
	 	  	  
	  
	 

 6.6 Method of Payments. 

Each payment hereunder shall be made in United States Dollars by check or electronic funds transfer in immediately available funds to
such bank account as Concert shall designate in writing to Avanir. 
 6.7 Late Payments 

Any amount owed by Avanir to Concert under this Agreement that is not paid on or before the date such payment is due shall bear
interest at a rate per annum equal to the lesser of the prime or equivalent rate per annum quoted by The Wall Street Journal on the first Business Day after such payment is due, plus [**] percent ([**]%), or the highest rate permitted by
applicable Law, calculated on the number of days such payment is paid after such payment is due and compounded monthly. 

6.8 Inspection of Records. 
 6.8.1 During the Term and for at least [**] years thereafter, Avanir shall, and shall cause its Affiliates and sublicensees to, keep accurate books and records setting forth the Net Sales of each Licensed
Product in each country. Avanir shall, and shall cause its Affiliates and sublicensees to, permit Concert, using independent certified public accountants engaged by Concert and approved by Avanir (not to be unreasonably withheld), to examine such
books and records at any reasonable time, upon reasonable notice; provided, however, that Avanir and its Affiliates and sublicensees shall not be required to produce for inspection any such records relating to any period prior to the [**]
then most recently ended calendar years. The foregoing right of examination may be exercised [**] period of the Term and [**] period after the Term. Avanir or its Affiliate or sublicensee may require such accountants to enter into a reasonably
acceptable confidentiality agreement, and in no event shall such accountants disclose to Concert any information, other than such as relates to the accuracy of the corresponding payments required to be made under this Agreement. The opinion of said
independent accountants regarding such reports and related payments shall be binding on the Parties, other than in the case of manifest error. Concert shall bear the cost of any such examination and review; provided, however, that if the
examination shows an underpayment of any amounts due of more than both (i) [**] percent ([**]%) of the amount due for an applicable calendar year and (ii) [**] U.S. Dollars ($[**]), then Avanir shall promptly reimburse Concert for its
reasonable out-of-pocket expenses actually incurred in connection with such examination. Avanir shall promptly pay to Concert the amount of any underpayment of amounts due revealed by any such examination. 

  
 21 

 6.8.2 During the Term and for at least [**] years thereafter, Concert shall, and shall cause
its Affiliates and sublicensees to, keep accurate books and records setting forth the expenses incurred by Concert pursuant to Section 7.1.1. Concert shall, and shall cause its Affiliates and contractors to, permit Avanir, using
independent certified public accountants engaged by Avanir and approved by Concert (not to be unreasonably withheld), to examine such books and records at any reasonable time, upon reasonable notice; provided, however, that Concert and its
Affiliates and contractors shall not be required to produce for inspection any such records relating to any period prior to the [**] then most recently ended calendar years. The foregoing right of examination may be exercised [**] period of the Term
and [**] period after the Term. Concert or its Affiliate or contractor may require such accountants to enter into a reasonably acceptable confidentiality agreement. The opinion of said independent accountants regarding such reports and related
payments shall be binding on the Parties, other than in the case of manifest error. Avanir shall bear the cost of any such examination and review; provided, however, that if the examination shows an overcharge by Concert of any amounts due of
more than both (i) [**] percent ([**]%) of the amount due for an applicable calendar year and (ii) [**] U.S. Dollars ($[**]), then Concert shall promptly reimburse Avanir for its reasonable out-of-pocket expenses actually incurred in
connection with such examination. Concert shall promptly refund to Avanir the amount of any overpayment of amounts due revealed by any such examination. 
 6.9 Tax Matters. 
 6.9.1 “Tax” or
“Taxes” shall mean all taxes, charges, duties, fees, levies or other assessments, including income, excise, property, sales, consumption, use, value added, profits, license, withholding (with respect to compensation or otherwise),
payroll, employment, net worth, capital gains, transfer, stamp, social security, environmental, occupation and franchise taxes, imposed by any Governmental Authority, and including any interest, penalties and additions attributable thereto, and all
amounts payable pursuant to an agreement or arrangement with respect to taxes. 
 6.9.2 The Parties agree to cooperate and
produce on a timely basis any Tax forms or reports reasonably requested by the other Party in connection with any payment made under this Agreement. Each Party further agrees to provide reasonable cooperation to the other Party, at the other
Party’s expense, in connection with any official or unofficial Tax audit or contest relating to payments made by the other Party under this Agreement. 
 6.9.3 Any payments made by a Party pursuant to this Agreement shall not be reduced on account of any Taxes unless required by applicable Law. Concert shall be responsible for paying any and all Taxes
(other than withholding taxes required to be paid by Avanir under applicable Law) levied on account of, or measured in whole or in part by reference to, any payments it receives. Avanir shall deduct or withhold from the payments any Taxes that
Avanir is required to deduct or withhold under applicable Law. Notwithstanding the foregoing, if Concert is entitled under any applicable Tax treaty to a reduction in the rate of, or the elimination of, applicable withholding Tax, it may deliver to
Avanir or the appropriate Governmental Authority (with the assistance of Avanir to the extent that such assistance is reasonably required and is requested in writing) the prescribed forms necessary to reduce the applicable rate of withholding or to
relieve Avanir of its obligation to withhold Tax, and Avanir shall apply the 

  
 22 

 
reduced rate of withholding, or dispense with withholding, as the case may be, provided that Avanir has received evidence, in a form reasonably satisfactory to Avanir, of Concert’s delivery
of all applicable forms (and, if necessary, its receipt of appropriate governmental authorization) at least [**] days before the time that the payments are due. If, in accordance with the foregoing, Avanir withholds any amount, it shall
(i) timely remit to Concert the balance of such payment; (ii) timely remit the full amount withheld to the proper Governmental Authority; and (iii) send to Concert written proof of remittance of the full amount withheld within [**]
days following remittance. 
 6.9.4 Notwithstanding Section 6.9.3, if, as a result of any change in the corporate
status or location of Avanir, or the permitted assignment of this Agreement by Avanir, withholding taxes in addition to those that would be due in the absence of such change or assignment become due on payments from Avanir or its permitted assignee
to Concert that would not have been due absent such change in corporate status or location or permitted assignment, in whole or in part, then Avanir will deduct withholding taxes in accordance with Section 6.9.3, but will, in addition to
the sums otherwise payable under this Agreement, pay to Concert such further sum as will ensure that, after deduction of withholding taxes on all such sums, the net amount received by Concert equals the amount that Concert would have received had
the additional withholding taxes not been deducted. 
 ARTICLE 7 

PATENTS AND INFRINGEMENT 
 7.1 Prosecution of Concert Patents. 
 7.1.1 Until Payment of the
Phase 2 Milestone, Concert will be responsible for preparation, filing, prosecution and maintenance of all Concert Patents under the direction of the JPC. Through the JPC, Concert shall provide Avanir reasonable opportunities to comment on the
prosecution and maintenance of the Concert Patents, and Concert shall reasonably consider all such comments unless implementation of such comments would unduly limit the scope of the Concert Patents. The JPC shall establish a budget for such
activities from time to time. Avanir shall reimburse Concert for all reasonable external expenses relating to the Concert Patents incurred by Concert in executing the activities directed by the JPC, including Concert’s out-of-pocket expenses
incurred in connection with preparation, filing, prosecution and maintenance of all Concert Patents, up to the amount budgeted for such activities by the JPC. 
 7.1.2 Upon and after Payment of the Phase 2 Milestone, Avanir will be responsible for preparation, filing, prosecution and maintenance of all Concert Patents at Avanir’s own cost and expense. Through
the JPC, Avanir shall provide Concert reasonable opportunities to comment on but, subject to Section 7.3, not approve the preparation, filing, prosecution and maintenance of the Concert Patents. Avanir shall not purposefully narrow the
claims of any pending Concert Patents simply to avoid paying royalties hereunder at the higher rate that would otherwise be required pursuant to Section 6.4.2, and shall not, without Concert’s prior written consent, which may not be
unreasonably withheld, voluntarily narrow or agree to the narrowing of the claims of any Concert Patents after they have been allowed or issued. 

  
 23 

 7.2 Prosecution of Collaboration Patents 

7.2.1 From the Effective Date, Avanir will be responsible for preparation, filing, prosecution and maintenance all Collaboration Patents
at Avanir’s own cost and expense. Through the JPC, Avanir shall provide Concert reasonable opportunities to comment on the preparation, filing, prosecution and maintenance of the Collaboration Patents. Avanir shall not purposefully narrow the
claims of the Collaboration Patents simply to avoid paying royalties hereunder at the higher rate that would otherwise be required pursuant to Section 6.4.2. 
 7.3 Abandonment of Concert Patent or Collaboration Patent 
 If Avanir
intends to abandon any Concert Patent or Collaboration Patent (without filing any substitute application), it will notify Concert of such intent at least [**] days in advance of any deadline that would prejudice Concerts rights under this
Section 7.3. Concert then shall have the opportunity to prepare, prosecute or maintain such Concert Patent or Collaboration Patent at Concert’s own expense. Thereafter, ownership of such patent rights shall be assigned to Concert.

 7.4 Collaboration Technology and Trademarks 
 Avanir has the sole right and responsibility for registration, preparation, filing, prosecution, maintenance and enforcement of all Collaboration Technology or trademarks for the Licensed Products in
Avanir’s discretion and at Avanir’s own cost and expense. 
 7.5 Enforcement of Concert and Collaboration
Patents 
 7.5.1 Each Party will promptly notify the other in the event of any actual, threatened or suspected infringement
of any Concert Patents by Third Party D-DM products that compete with any Licensed Product (“Competitive Infringement”). 
 7.5.2 Avanir shall have the first right, but not the obligation, to institute litigation to enforce the Concert Patents in connection with any Competitive Infringement or any infringement of the
Collaboration Patents. Any such litigation shall be at Avanir’s sole cost and expense. If required in order to establish Avanir’s standing to sue under any applicable Laws, Concert, upon request of Avanir, agrees to timely join in any such
litigation, at Avanir’s expense, and in any event to cooperate with Avanir at Avanir’s expense. The Parties shall consult with respect to potential strategies for terminating such Competitive Infringement without litigation. No settlement,
stipulated judgment or other voluntary final disposition of a suit under this Section 7.5.2 may be undertaken by Avanir without the consent of Concert if such settlement, stipulated judgment or other voluntary final disposition would
require Concert to be subject to an injunction, admit wrong-doing, make a monetary payment or would otherwise materially adversely affect Concert’s rights under this Agreement or any of the Concert Patents. Any Governmental Authority awarded
judgment for Competitive Infringement will be allocated first to pay any and all of Avanir’s and Concert’s reasonable costs and expenses relating to the action and the remainder will be shared by the Parties as follows: [**]% to Avanir,
[**]% to Concert 
 7.5.3 Concert shall not have any right to enforce the Collaboration Patents with respect to any product that
contains D-DM or that competes with a Licensed Product. If Avanir fails to bring an action with respect to, or to terminate, either (a) a Competitive Infringement (involving a Concert Patent) or (b) infringement of any Collaboration
Patents by Third Party products that do not contain D-DM or compete with any Licensed Product, in each case (a) or (b)

  
 24 

 
within the sooner of (i) [**] days following the notice of alleged infringement or (ii) [**] days after being notified in the case of an action brought under the Hatch-Waxman Act or
similar Laws applicable to follow-on biologic products, or any ex-U.S. equivalent of the Hatch-Waxman Act or such other Laws, then Concert shall have the right, but not the obligation, to institute litigation in connection therewith, and any such
litigation shall be at Concert’s sole cost and expense. If required in order to establish Concert’s standing to sue under any applicable Laws, Avanir, upon request of Concert, agrees to timely join in any such litigation, at Concert’s
expense, and in any event to cooperate with Concert at Concert’s expense. The Parties shall consult with respect to potential strategies for terminating such infringement without litigation and Concert may not enter into settlements, stipulated
judgments or other arrangements respecting such infringement that would conflict with the exclusive license granted to Avanir hereunder without the prior written consent of Avanir. No settlement, stipulated judgment or other voluntary final
disposition of a suit under this Section 7.5.3 may be undertaken by Concert without the written consent of Avanir if such settlement, stipulated judgment or other voluntary final disposition would require Avanir to be subject to an
injunction, admit wrong-doing, make a monetary payment or would otherwise materially adversely affect Avanir’s rights under this Agreement or any of the Concert Patents or Collaboration Patents. Any recoveries relating to Concert’s actions
under this Section 7.5.3 will be allocated first to pay any and all of Avanir’s reasonable costs and expenses relating to the action and the remainder will retained by Concert. 

7.5.4 Each Party shall reasonably cooperate with the other Party in any litigation asserting infringement of the Concert Patents or
Collaboration Patents. Such cooperation includes asserting, and not waiving, the joint defense privilege with respect to any communications between the Parties pursuant to this Agreement to the greatest extent permissible in accordance with Law. If
Avanir lacks standing to sue to enforce any of the Concert Patents in accordance with Avanir’s rights under Section 7.5.2 and the transfer to Avanir of sole ownership of the Concert Patent(s) in the subject jurisdiction is the only
means available for conferring such standing upon Avanir (e.g., if Concert’s agreement to be joined as a party to the enforcement action would not enable Avanir to enforce such Concert Patents), then Concert agrees to assign its interest in
such Concert Patent(s) in such jurisdiction to Avanir, (i) subject to a license back to Concert of all rights thereunder not already licensed to Avanir under Section 5.2.1 and (ii) provided that upon conclusion of such
litigation, Avanir will assign back to Concert its interest in the subject Concert Patent(s) subject to the licensees granted in Section 5.2. 
 ARTICLE 8 
 CONFIDENTIALITY 

8.1 Confidential Information. 
 8.1.1 All Concert Technology and unpublished Concert Patents constitute the Confidential Information of Concert. All Collaboration Technology, unpublished Collaboration Patents, all reports prepared under
Section 3.4, the reports assigned to Avanir pursuant to Section 5.1.2, and all communications with Regulatory Authorities concerning any Licensed Product are the Confidential Information of Avanir. Moreover, notwithstanding
that Concert is the Discloser of the Concert Technology specific to D-DM or of any Collaboration Technology, Concert shall also be deemed a Recipient thereof for purposes of this Article 8 during the Term. Subject to
Section 8.1.3, during the Term and for [**] years thereafter, Recipient will keep confidential, and 

  
 25 

 
will cause its Representatives to keep confidential, all of the Discloser’s Confidential Information that is disclosed to it under this Agreement. The Recipient agrees to take such action,
and to cause its Representatives to take such action, to preserve the confidentiality of the Discloser’s Confidential Information as it would customarily take to preserve the confidentiality of the Recipient’s own similar types of
Confidential Information. 
 8.1.2 The Recipient shall, and shall cause its respective Representatives (i) to use the
Discloser’s Confidential Information only as expressly permitted in this Agreement and (ii) subject to Section 8.1.3, not to disclose the Discloser’s Confidential Information to any Third Parties without the prior written
consent of the other Party, except as expressly permitted in this Agreement. 
 8.1.3 Notwithstanding anything to the contrary
in this Article 8, the Recipient and its Representatives may disclose the Discloser’s Confidential Information in connection with the exercise of rights granted to it hereunder to: (i) Governmental Authorities to the extent
necessary to obtain or maintain INDs or Regulatory Approvals; (ii) to outside consultants, contractors, advisory boards, managed care organizations, and non-clinical and clinical investigators; provided, however, that the
Recipient shall enter into a confidentiality agreement with the consultant, contractor, advisory board, managed care organization or investigator before disclosing any of the Discloser’s Confidential Information, (iii) in connection with
prosecuting or defending litigation; provided, however, that the Recipient or Representative shall use reasonable efforts to limit the dissemination of such information, including by use of protective orders and the like, as such
Recipient would use for its own similar types of Confidential Information; (iv) in connection with the resolution of disputes under this Agreement; provided, however, that such Recipient shall use reasonable efforts to limit the
dissemination of such information, including by use of protective orders and the like, as such Recipient would use for its own similar types of Confidential Information; and (v) in connection with filings required by security regulations and
the rules and regulations of any securities exchanges upon which the Recipient’s securities are traded; provided, however, that such Recipient shall use reasonable efforts to limit the dissemination of such information, including
by use of protective orders and the like, as such Recipient would use for its own similar types of Confidential Information. 

8.2 Publicity. 
 The Parties shall use their respective best efforts to mutually agree to an initial joint press release announcing the execution of this Agreement as promptly as reasonably possible, but in any event not
later than such time as either Party is required by applicable Law to make such an announcement publicly, and thereafter promptly disseminate such press release; provided, however, that either Party may, if required by
applicable Law, announce the execution of this Agreement in the absence of such mutual agreement over the content thereof. Subject to Avanir’s prior review and approval, Concert may issue press releases or otherwise disclose the following:
(i) filing of an IND for a Licensed Product or (ii) reaching a D-DM and Quinidine Product Milestone Event, D-DM Only Product Milestone Event or Sales Milestone under Sections 6.2 and 6.5. Avanir may issue press releases concerning
the Licensed Products at any time, including on the foregoing subject matter, without consent of Concert. Concert will provide Avanir an opportunity to provide comments, but not approval, if and to the extent reasonably possible under the
circumstances and permitted in accordance with applicable Law (as 

  
 26 

 
determined by outside legal counsel of Concert) of any such press releases by Concert. Until First IND, Avanir will provide Concert an opportunity to provide comments, but not approval, if and to
the extent reasonably possible under the circumstances and permitted in accordance with applicable Law (as determined by outside legal counsel of Avanir) of any such press releases by Avanir. 

ARTICLE 9 

REPRESENTATIONS AND WARRANTIES 
 9.1 Concert Representations and Warranties. 
 Concert hereby
represents and warrants to Avanir that, as of the Effective Date: 
 9.1.1 Concert has the corporate power and authority to
execute and deliver this Agreement and to perform its obligations hereunder, and the execution, delivery and performance of this Agreement by Concert have been duly and validly authorized and approved by proper corporate action on the part of
Concert, and Concert has taken all other action required by Law, its certificate of incorporation, by-laws or other organizational documents to authorize such execution, delivery and performance. Assuming due authorization, execution and delivery on
the part of Avanir, this Agreement constitutes a legal, valid and binding obligation of Concert, enforceable against Concert in accordance with its terms, except as enforceability may be limited by applicable equitable principles or bankruptcy,
insolvency, reorganization, moratorium or similar Laws affecting creditors’ rights generally. 
 9.1.2 The execution and
delivery of this Agreement by Concert and the performance by Concert contemplated hereunder does not conflict with, or constitute a breach or default under, any of its charter or organizational documents, any Law, order or governmental rule or
regulation applicable to Concert, or any material agreement, contract, commitment or instrument to which Concert is a party. 

9.1.3 There is no action, claim, complaint, demand, suit, proceeding, arbitration, grievance, citation, summons, subpoena, request for
information by a Governmental Authority, inquiry or investigation of any nature, civil, criminal, regulatory or otherwise, in law or in equity, pending or, to the Knowledge of Concert, threatened against Concert, any of its Affiliates relating to
the Concert Technology, the Concert Patents, or the transactions contemplated by this Agreement. 
 9.1.4 Concert has used
commercially reasonable efforts to disclose or make available to Avanir, and, to the Knowledge of Concert, Concert has disclosed or made available to Avanir, (a) all material scientific and technical information, including any material
publications, posters and pharmacokinetics data, relating to Licensed Products or their manufacture or use as such exists as of the Effective Date, and (b) all material information relating to D-DM and further relating to the Concert Patents
and Concert Technology, including any invention disclosures, prior art search results and related memoranda and patentability opinions or evaluations, validity and enforceability searches and opinions or evaluations, freedom to operate searches and
opinions or evaluations, and correspondence with and interview notes or other notes regarding communications with any of the inventor(s) and all other such 

  
 27 

 
material information in the possession of Concert as of the Effective Date (including all material facts and publications that could constitute prior art, , whether discovered before or after
filing of the subject patent application) that, in such attorney(s),’ agent(s),’ or employees’ reasonable judgment likely would be relevant to any Governmental Authority’s consideration of whether any of the Concert Patents are
patentable/unpatentable, valid/invalid or enforceable/unenforceable. 
 9.1.5 The scientific, technical and other information
relating to D-DM and further relating to the Concert Patents, Concert Technology and Licensed Products disclosed or made available by Concert to Avanir prior to the Effective Date has, to Concert’s Knowledge, been true and correct in all
material respects and includes any materially adverse information known to Concert or its Affiliates relating to D-DM and further relating to the Concert Patents, Concert Technology or Licensed Products. To the Knowledge of Concert, no IND has been
filed by Concert or a Third Party for a D-DM or [**] containing compound to any Regulatory Authority in any country. Neither Concert nor any of its Affiliates nor, to Concert’s Knowledge, a Representatives (in their capacity as such) is
currently: 
  

	 	(i)	working to file on their own behalf, 

  

	 	(ii)	advising or consulting with any Person in preparation for or in connection with filing, 

 

	 	(iii)	holding an investment in (other than the acquisition of less than five percent (5%) of the voting securities of a publicly traded entity) or providing debt
financing to any Person that is preparing to file, or 

  

	 	(iv)	assisting or encouraging any Person in connection with, 

 submission to a Regulatory Authority in any country for D-DM using D-DM as the reference listed drug. 
 9.1.6 To Concert’s Knowledge, the manufacture and commercialization of Licensed Products, as formulated and manufactured as of the Effective Date, does not infringe the patent rights of any other
Person. The use, reproduction or disclosure of the Concert Technology to Avanir pursuant to the terms of this Agreement, and Avanir’s exercise of its rights hereunder in connection therewith, does not infringe, misappropriate or otherwise
violate the trade secret rights or copyrights of any other Person. Concert has not received any notice alleging that the manufacture and commercialization of Licensed Products, as formulated and manufactured as of the Effective Date, infringes or
will infringe the patent rights of any Third Party. 
 9.1.7 Concert has the unrestricted right to grant to Avanir all rights in
the Concert Patents and Concert Technology that are being granted to Avanir under this Agreement upon the terms set forth herein. Concert has not granted any license or sublicense to any rights in the Concert Patents or Concert Technology to any
Third Party that are in conflict with the rights granted to Avanir in this Agreement. 

  
 28 

 9.1.8 Schedule 1.11 sets forth, with the owner, country(ies) or region, registration
and application numbers and dates indicated, as applicable, all Concert Patents that have issued or that have been applied for and are pending issuance with any Governmental Authority. All fees, taxes, annuities and other payments associated with
filing, prosecuting, issuing, recording, registering or maintaining Concert Patents have been paid in full in a timely manner to the proper Governmental Authority. Each Concert Patent listed or required to be listed thereon is owned solely by
Concert, is active, and, to Concert’s Knowledge, each such Concert Patent that is issued as of the Effective Date is valid and enforceable, and the ownership of the entire right, title and interest in each Concert Patent listed or required to
be listed in Schedule 1.11 is recorded with the applicable Governmental Authority solely in the name of Concert. Concert’s internal and external U.S. patent attorney(s) and agent(s) that have been involved in prosecution of the Concert
Patents and Concert’s employees that have been involved in the prosecution of the Concert Patents are not aware of any information that, in their reasonable judgment, would likely render any of the granted Concert Patents invalid or
unenforceable and that is not part of the publicly available file history. Concert has complied with all duties of candor owed to patent offices with respect to the Concert Patents. 

9.1.9 Concert has taken reasonable and customary measures to maintain and protect, as applicable, the confidentiality of Concert
Technology. 
 9.1.10 All current and former employees of Concert who are or were involved in the design, creation, conception,
reduction to practice or development of Concert Technology or Concert Patents or who were provided the chemistry of the Licensed Products manufactured before the Effective Date using the Concert Technology or claimed by the Concert Patents, have
executed written contracts (a) obligating them to protect the confidential Concert Technology, (b) specifying that all work performed by them on behalf of Concert is “work made for hire” under U.S. copyright laws or that they are
otherwise obligated to assign to Concert all copyrights in such works, and (c) specifying that Concert solely owns all other intellectual property rights in the Concert Technology and Concert Patents. 

9.1.11 All employees of Concert who are or will be involved in the design, review, creation, evaluation, conception, reduction to
practice or development of Collaboration Technology or Collaboration Patents or who have been or will be exposed to the Collaboration Technology or Collaboration Patents have executed written contracts, or will, before being assigned any tasks under
Development Program, JSC or JPC, execute a written contract (a) obligating them to protect the confidential Collaboration Technology, (b) specifying that all work performed by them on behalf of Concert is “work made for hire”
under U.S. copyright laws or that they are otherwise obligated to assign to Concert all copyrights in such works, and (c) specifying that, as between such Person and Concert, Concert solely owns all other intellectual property rights in the
Collaboration Technology and Collaboration Patents. 
 9.1.12 Concert has not been granted a license from any Person under any
intellectual property contained within or necessary to exploit the Concert Technology or Concert Patents. 

  
 29 

 9.2 Avanir Representations and Warranties. 

Avanir hereby represents and warrants to Concert that, as of the Effective Date: 

9.2.1 Avanir has the corporate power and authority to execute and deliver this Agreement and to perform its obligations hereunder, and
the execution, delivery and performance of this Agreement by Avanir have been duly and validly authorized and approved by proper corporate action on the part of Avanir, and Avanir has taken all other action required by Law, its certificate of
incorporation, by-laws, or other organizational documents to authorize such execution, delivery and performance. Assuming due authorization, execution and delivery on the part of Concert, this Agreement constitutes a legal, valid and binding
obligation of Avanir, enforceable against Avanir in accordance with its terms, except as enforceability may be limited by applicable equitable principles or bankruptcy, insolvency, reorganization, moratorium or similar Laws affecting creditors’
rights generally. 
 9.2.2 The execution and delivery of this Agreement by Avanir and the performance by Avanir contemplated
hereunder does not and will not violate any Laws or any order of any court or Governmental Authority, except for such violations that would not have an adverse effect on the ability of Avanir to perform its obligation under this Agreement.

 9.2.3 There is no action, claim, demand, suit, proceeding, arbitration, grievance, citation, summons, subpoena, inquiry or
investigation of any nature, civil, criminal, regulatory or otherwise, in law or in equity, pending or, to the knowledge of Avanir, threatened against Avanir or any of its Affiliates relating to the transactions contemplated by this Agreement.

 9.3 DISCLAIMER. 
 EXCEPT AS OTHERWISE EXPRESSLY STATED IN SECTIONS 9.1 AND 9.2, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY OF ANY KIND WITH RESPECT TO ANY PRODUCTS. TECHNOLOGY, INTELLECTUAL PROPERTY RIGHTS
OR ANY OTHER SUBJECT MATTER UNDER THIS AGREEMENT. EXCEPT AS OTHERWISE PROVIDED IN SECTIONS 9.1 AND 9.2, EACH PARTY EXPRESSLY DISCLAIMS ALL SUCH OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED. INCLUDING ANY IMPLIED WARRANTIES OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR AGAINST INFRINGEMENT. 
 ARTICLE 10 

TERM AND TERMINATION 
 10.1 Term. 
 10.1.1 This Agreement shall be effective as of the
Effective Date and, unless terminated sooner pursuant to Section 10.2, shall remain in effect, on a Licensed Product-by-Licensed Product and country-by-country basis, for the duration of the Royalty Term applicable to such Licensed
Product in each country. 
 10.1.2 The period from the Effective Date until termination (for any reason) of this Agreement in
its entirety is the “Term” of this Agreement. 

  
 30 

 10.2 Termination Rights. 

10.2.1 If either Party materially breaches or materially defaults in the performance or observance of any of its respective obligations
under this Agreement, the non-breaching Party may terminate this Agreement as follows: (a) upon [**] days notice as to breaches of payment obligations hereunder if the breaching Party has not cured the breach within such [**] day notice period;
(b) except as to payment breaches and breaches specified in clause (c) below, upon [**] days notice if the breaching Party has not cured the breach within such [**] day notice period; and (c) if the breach is not a payment breach and
was not deliberate, but cannot be cured within [**] days of the non-breaching Party’s notice of breach, if the breaching Party has not cured the breach within [**] days of the non-breaching Party’s notice of breach, unless the breaching
Party has discontinued the breaching act, has used commercially reasonable efforts to cure the breach to the extent possible within such [**] day period and has implemented all commercially reasonable steps to further cure such breach to the extent
possible and to prevent further occurrences of such breach; provided, however, that if Avanir is deemed to be in material breach or default in the performance or observance of any of its obligations under this Agreement due to the actions (or
failure to act where a duty to act exists) of any of its sublicensees, then the foregoing right of termination (x) may not be exercised if the breach is curable and Avanir is using commercially reasonable efforts to have the breach cured and,
if such commercially reasonable efforts do not result in such cure, provides notice of termination of the sublicense prior to or at the end of or promptly after the cure period and thereafter terminates such sublicense in accordance with such
notice, (y) may not be exercised if the breach was not deliberate, but cannot be cured within [**] days of notice of breach, if the sublicensee has discontinued the breaching act, has used commercially reasonable efforts to cure the breach to
the extent possible within such [**] day period and has implemented all commercially reasonable steps to further cure such breach to the extent possible and to prevent further occurrences of such breach, and (z) if terminable, shall be limited
to termination of rights hereunder equivalent to the scope of the corresponding sublicense granted to such sublicensee(s). 

10.2.2 Following the completion of the study designed to achieve the Phase 2 Milestone or after twenty four (24) months after the
Effective Date, whichever occurs first, Avanir may terminate this Agreement by ninety (90) days written notice to Concert. 

10.2.3 Concert may terminate this Agreement upon [**] days notice if Avanir ceases to continue the development and/or commercialization
of all Licensed Products, irrespective of whether or not such cessation is consistent with the exercise by Avanir of commercially reasonable efforts as required in Section 4.1, if Avanir has not recommenced active development and/or
commercialization efforts within such [**] day notice period. 
 10.3 Effects of Termination. 

10.3.1 Upon expiration of the Royalty Term as to a Licensed Product in a country and payment of all royalties associated with Net Sales
of such Licensed Product in such country (but not termination of this Agreement prior to such expiration and payment), the licenses granted hereunder to Avanir for such Licensed Product in such country shall be deemed fully paid-up, irrevocable and
non-terminable. 
 10.3.2 Upon termination of this Agreement during any such time as any Clinical Trials involving a Licensed
Product are being conducted by Avanir, its Affiliates, their licensees or their Representatives, Avanir and any other such Person shall be entitled to complete the Clinical Trials to the extent reasonably necessary to comply with applicable Law.

  
 31 

 10.3.3 Subject to Sections 10.3.1 and 10.3.2, all licenses granted hereunder by
Concert to Avanir under Concert Patents and Concert Technology shall terminate upon any termination of this Agreement. Subject to Sections 10.3.1 and 10.3.2, Avanir shall cease, as promptly as reasonably possible, all further development and
commercialization of Licensed Products in a manner that uses any Concert Technology disclosed to Avanir during the Term or that would infringe any Concert Patent in any country as to which Avanir’s licenses have not, prior to such termination,
become fully paid-up, irrevocable and non-terminable pursuant to Section 10.3.1. To the extent that Avanir continues to further develop or commercialize any Licensed Products in a manner that does not use any such Concert Technology and that
does not infringe any Concert Patent, then Avanir shall continue to pay royalties thereon as set forth in Section 6.4 for the full duration of the Royalty Term if the manufacture, use, sale, offer for sale or import of the Licensed Product in a
country during the Term would have infringed any Concert Patent in such country. 
 10.3.4 Termination of this Agreement in its
entirety by Avanir pursuant to Section 10.2.2 or by Concert pursuant to Section 10.2.3 or following a material breach by Avanir pursuant to Section 10.2.1, shall give rise to the following: 

(a) If requested by Concert, upon such termination, Avanir shall grant to Concert a non-exclusive, perpetual license, including the
right to sublicense, under the Collaboration Patents to make, use, sell or offer for sale and import products containing D-DM. Such license shall be royalty-bearing to the extent set forth in clause
(d) below and shall otherwise be fully paid-up and non-royalty bearing. 
 (b) If
requested by Concert, upon such termination, Avanir shall grant to Concert a non-exclusive, perpetual license, including the right to sublicense, under Collaboration Technology to make, use, offer for sale, sell and import products containing D-DM. Such license shall be royalty-bearing to the extent set forth in clause (d) below and shall otherwise be fully paid-up and non-royalty bearing. 

(c) If requested by Concert, upon such termination, Avanir shall grant to Concert a non-exclusive, perpetual license, including the
right to sublicense, under any patent rights and technology, other than Collaboration Patents and Collaboration Technology, that are owned by Avanir or licensed to Avanir with the right to sublicense upon the terms hereof and that are incorporated
into or embodied by any Licensed Product that is in Clinical Trials or has obtained Regulatory Approval at the time of termination, to develop, make, use, offer for sale, sell and import products containing D-DM. Such license shall be
royalty-bearing to the extent set forth in clause (d) below and shall otherwise be fully paid-up and non-royalty bearing; provided, however, with respect to any such patent rights or technology licensed to Avanir, such patent
rights shall only be included if Concert agrees to pay any royalties or other amounts payable to the licensor on account of the sublicensing thereof to Concert hereunder or Concert’s exploitation of the sublicensed subject matter. 

  
 32 

 (d) The licenses set forth in the foregoing clauses (a), (b) and (c) shall be
royalty bearing as follows: Concert shall pay Avanir a royalty on Net Sales (modifying such defined term to refer to sales by Concert, its Affiliates and sublicensees) of a product containing D-DM as follows: 

(i) [**]% of such Net Sales if such termination occurs prior to completion of a Phase 2 Clinical Trial of a Licensed Product; or

 (ii) [**]% of such Net Sales, up to a maximum cumulative royalty obligation equal to [**] Avanir’s reasonable and
documented out-of-pocket expenses incurred by Avanir in developing the Licensed Product under this Agreement prior to such termination, if such termination occurs after completion of one or more Phase 2 Clinical Trial(s). 

When no further royalties are payable pursuant to this clause (d), the licenses set forth in clauses (a), (b) and (c) above shall be
fully paid-up, non-royalty-bearing, irrevocable and non-terminable. Concert shall be entitled to deductions against the royalties payable pursuant to this clause (d) of [**] percent ([**]%) of the royalties and other amounts payable to Third
Parties with respect to patent rights owned or controlled by Third Parties that, in the absence of a license thereunder, could reasonably be or is determined to be infringed by the manufacture, use, offer for sale, sale or importation of any
Licensed Product as it is formulated and manufactured as of the effective date of termination; provided, however, that such deductions shall not affect the maximum amount [**] that may become payable under clause (ii); provided further, that in no
event will such deductions reduce by more than [**] percent ([**]%) the royalties otherwise due under clause (ii) during any royalty reporting period. All such royalties due from Concert pursuant hereto shall be accrued, reported and paid as if
Concert were Avanir (and vice versa) in Sections 6.4.5, 6.6, 6.7, and 6.9. Additionally, Concert shall and shall cause its Affiliates and sublicensees to keep records associated with the royalties due hereunder as if Concert were Avanir (and
vice versa) in Section 6.8.1 for a period of [**] years after the quarter in which the last royalty hereunder is accrued. 
 (e) Upon such termination, Avanir shall promptly provide to Concert a copy of all data and reports and assign to Concert all Regulatory Approvals, regulatory dossiers and regulatory materials for the
Licensed Products and take actions with regulatory agencies, as requested by Concert, reasonably necessary to effect such transfer to Concert. Notwithstanding the foregoing, Concert shall not market, for a period of [**] years after termination, a
Licensed Product that receives Regulatory Approval based on Phase 3 Clinical Trial data generated by Avanir prior to termination; provided that, on a country-by-country basis, the restriction set forth above in this sentence shall not
apply in any country in which (i) whether prior to or after the effective date of termination, a generic version of
Nuedexta® receives or has received Regulatory Approval or (ii) as of the effective date of termination, a
Licensed Product has received Regulatory Approval. For purposes of this section, “generic version of
Nuedexta®” means, in the United States of America, the first commercial sale of a product with an A/B
rating, as provided in the U.S. FDA Orange Book, for each product being commercialized by Avanir which is a combination of non-deuterated dextromethorphan and quinidine and in any other country, the first commercial sale of a substantially similar
product. 

  
 33 

 (f) Avanir shall, within [**] days after termination, (i) transfer to Concert
Avanir’s supply of clinical trial materials and synthetic intermediates for Licensed Products, and (ii) use commercially reasonable efforts to provide to Concert a copy of Avanir’s promotional materials, manufacturing records,
analytical methods, reference standards and degradation standards and other of Avanir’s documented technology and know-how licensed pursuant to Sections 10.3.4(a), (b) and/or (c) to the extent used by Avanir in connection with
Licensed Products at the time of termination and reasonably necessary or useful for Concert to continue development, manufacturing, seeking or obtaining Regulatory Approval, or commercialization of Licensed Products as performed by Avanir at the
time of termination; in each case (i) and (ii) to the extent existing as of the date of termination and in the case of (i) at a price of Avanir’s reasonable and documented out-of-pocket cost for such materials plus [**] percent
([**]%). 
 (g) Avanir shall, at Avanir’s expense, complete Clinical Trials involving Licensed Products that are in
progress as of the date of termination and that are non-cancellable or that must be completed for ethical reasons, and forward to Concert all final reports and underlying data from such activities. If upon termination Avanir cannot assign any of its
agreements with a Third Party to conduct Clinical Trials, Concert cannot enter a new agreement with such Third Party or another Third Party to conduct such Clinical Trials, and Concert requests Avanir to continue to conduct such Clinical Trials
beyond the period required in the preceding sentence, then Avanir will negotiate in good faith with Concert regarding commercially reasonable solutions that will permit Concert to have such Clinical Trials continued, such as having Avanir conduct
them for some period of time at a commercially reasonable price. Avanir shall reasonably cooperate with Concert to effect all such transfers of reports, data and development activities to Concert. 

(h) Avanir shall, if requested by Concert within [**] days after termination, assign to Concert, to the extent assignable without
consent of the other party to the agreement and solely related to the Licensed Products, Avanir’s agreements with Third Parties for the procurement of services or supplies relating to the development, manufacture or commercialization of the
Licensed Products. 
 (i) If Avanir possesses an inventory of commercial supply of Licensed Product upon termination, then, if
Concert so requests within [**] days after termination, Avanir shall transfer to Concert Avanir’s inventory of Licensed Products that exists as of the time of such request, that is believed to be in good and saleable condition in its original,
unopened package at the transfer price paid by Avanir to a Third Party for such inventory or at [**]% of Avanir’s direct manufacturing cost if Avanir manufactured the Licensed Product. 

(j) Concert shall have the right to publish Clinical Trial results relating to Licensed Products as if Concert were Avanir in
Section 3.5 (but without JSC oversight). Avanir shall not publish any such Clinical Trial results following termination without the consent of Concert, such consent not to be unreasonably withheld. 

(k) Upon such termination, both Parties shall be deemed both a Discloser and Recipient of all Collaboration Technology and unpublished
Collaboration Patents, all reports and data relating to any Licensed Product and all communications with Regulatory Authorities concerning any Licensed Product for purposes of Article 8. 

  
 34 

 (l) From and after the earlier of any notice of termination hereunder or the effective date
of termination of this Agreement, Avanir and Avanir’s Affiliates shall refrain from making any public statement regarding any Licensed Product, unless (i) Avanir or its Affiliate is required to make such statement pursuant to applicable
Law, (ii) such statement is made in a legally privileged manner, or (iii) Concert shall have approved any such statement in writing, such approval not to be unreasonably withheld. 

(m) ALL INFORMATION AND MATERIALS SOLD OR OTHERWISE PROVIDED BY AVANIR PURSUANT TO THIS SECTION 10.3.4 ARE SOLD AND PROVIDED ON
AN AS-IS, WHERE-IS, WITH ALL FAULTS BASIS AND WITHOUT ANY WARRANTY OF ANY KIND WHATSOEVER, ALL OF WHICH ARE HEREBY DISCLAIMED, INCLUDING WITHOUT’ LIMITATION, ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE OR AGAINST
INFRINGEMENT. 
 10.3.5 Termination of this Agreement for any reason (i) shall be without prejudice to Concert’s right
to receive all payments accrued before the effective date of such termination, including all payments on Net Sales for Licensed Products sold after termination, and (ii) shall not release a Party hereto from any indebtedness, liability, right
to damages or other obligation incurred hereunder by such Party before the date of termination. 
 10.3.6 The provisions of
Articles 1, 8, 11 and 12 and Sections 3.6, 5.1, 5.4, 5.5, 6.7, 6.8, 6.9, 9.3 and 10.3, as well as any other Sections or defined terms referred to in such Sections or necessary to give them effect shall survive termination or expiration of
this Agreement and remain in force until discharged in full. Furthermore, any other provisions required to interpret and enforce the Parties’ rights and obligations or to wind up their outstanding obligations under this Agreement shall survive
to the extent required. 
 ARTICLE 11 
 INDEMNIFICATION 
 11.1 Indemnification. 

11.1.1 Concert shall indemnify, defend and hold Avanir and Avanir’s Representatives, harmless from any and all Losses incurred by
any of them in connection with a claim by a Third Party as a result of: 
  

	 	(i)	the breach of any covenant of, or warranty or representation made by Concert under this Agreement; or 

 

	 	(ii)	the negligence, recklessness, or wilful misconduct of Concert or any of its Representatives; or 

 

	 	(iii)	 the development, manufacture, use, offer for sale, sale, importation or promotion of any Licensed Products by Concert or its Representatives

  
 35 

	 	
following termination of this Agreement and reversion of rights therein to Concert pursuant to Article 10 or of any other products made using any of the Collaboration Technology or Concert
Technology or covered by any of the Collaboration Patents or Concert Patents, including without limitation any such Losses based on Third Party personal injury or product liability claims or Third Party infringement claims. 

Notwithstanding the foregoing, Concert shall not be obligated to so indemnify, defend and hold Avanir and Avanir’s Representatives harmless to the
extent that such Losses are caused by (a) the breach of any covenant of, or warranty or representation made by Avanir under this Agreement or (b) the gross negligence, recklessness or wilful misconduct of Avanir or any of its
Representatives. 
 11.1.2 Avanir shall indemnify, defend and hold Concert and Concert’ Representatives, harmless from any
and all Losses incurred by any of them in connection with a claim by a Third Party as a result of: 
  

	 	(i)	the breach of any covenant of, or warranty or representation made by Avanir under this Agreement; or 

 

	 	(ii)	the negligence, recklessness, or wilful misconduct of Avanir or any of its Representatives; or 

 

	 	(iii)	the development, manufacture, use, offer for sale, sale, importation or promotion of Licensed Products by Avanir or its Representatives under this Agreement or of any
other products made using any of the Collaboration Technology or Concert Technology or covered by any of the Collaboration Patents or Concert Patents, including without limitation any such Losses based on Third Party personal injury or product
liability claims or Third Party infringement claims. 

 Notwithstanding the foregoing, Avanir shall not be obligated to so
indemnify, defend and hold Concert and Concert’ Representatives harmless to the extent that such Losses are caused by (a) the breach of any covenant of, or warranty or representation made by Concert under this Agreement or (b) the
gross negligence, recklessness or wilful misconduct of Concert or any of its Representatives. 
 11.2 Indemnity
Procedures. 
 11.2.1 In the event that any Third Party asserts a claim with respect to any matter for which a Party
(the “Indemnified Party”) is entitled to indemnification under Section 11.1 (a “Third Party Claim”), then the Indemnified Party shall promptly notify the Party obligated to indemnify the Indemnified
Party (the “Indemnifying Party”) thereof; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then
only to the extent that) the Indemnifying Party is prejudiced thereby. 

  
 36 

 11.2.2 The Indemnifying Party shall have the right, exercisable by notice to the Indemnified
Party within [**] days after receipt of notice from the Indemnified Party of the commencement of or assertion of any Third Party Claim, to assume direction and control of the defense, litigation, settlement, appeal or other disposition of the Third
Party Claim (including the right to settle the claim solely for monetary consideration) with counsel selected by the Indemnifying Party and reasonably acceptable to the Indemnified Party, and the Indemnifying Party may do so without prejudice to its
right to dispute whether such claim involves a Third Party Claim subject to valid indemnification obligation hereunder. During such time as the Indemnifying Party is controlling the defense of such Third Party Claim, the Indemnified Party shall
cooperate, and shall cause its Representatives to cooperate upon request of the Indemnifying Party and at Indemnifying Party’s cost, in the defense or prosecution of the Third Party Claim, including by furnishing such records, information and
testimony and attending such conferences, discovery proceedings, hearings, trials or appeals as may reasonably be requested by the Indemnifying Party. In the event that the Indemnifying Party does not notify the Indemnified Party of the Indemnifying
Party’s intent to defend any Third Party Claim within [**] days after notice thereof (including by affirmatively denying responsibility to defend the Third Party Claim), the Indemnified Party may (without further notice to the Indemnifying
Party) undertake the defense thereof with counsel of the Indemnified Party’s choice and at the Indemnifying Party’s expense (including reasonable, out-of-pocket attorneys’ fees and costs and expenses of enforcement or defense). The
Indemnifying Party or the Indemnified Party, as the case may be, shall have the right to join in (including the right to conduct discovery, interview and examine witnesses and participate in all settlement conferences), but not control, at its own
expense, the defense of any Third Party Claim that the other Party is defending as provided in this Agreement. 
 11.2.3 The
Indemnifying Party shall not, without the prior written consent of the Indemnified Party which shall not be unreasonably withheld, enter into any compromise or settlement that commits the Indemnified Party to take, or to forbear to take, any action.
The Indemnified Party shall have the sole and exclusive right to settle any Third Party Claim, on such terms and conditions as it deems reasonably appropriate, to the extent such Third Party Claim involves equitable or other non-monetary relief, but
shall not have the right to settle such Third Party Claim to the extent such Third Party Claim involves monetary damages without the prior written consent of the Indemnifying Party. Each of the Indemnifying Party and the Indemnified Party shall not
make any admission of liability in respect of any Third Party Claim without the prior written consent of the other Party, and the Indemnified Party shall use reasonable efforts to mitigate losses arising from the Third Party Claim. 

11.3 Limitation of Liability. 
 IN NO EVENT SHALL EITHER PARTY BE LIABLE UNDER THIS AGREEMENT FOR SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, WARRANTY, TORT, NEGLIGENCE, STRICT LIABILITY OR
OTHERWISE, INCLUDING LOSS OF PROFITS OR REVENUE, SUFFERED BY A PARTY OR ANY OF ITS RESPECTIVE REPRESENTATIVES. EXCEPT (i) TO THE EXTENT OF ANY SUCH DAMAGES MUST BE PAID TO A THIRD PARTY IN CONNECTION WITH A THIRD PARTY CLAIM, OR (ii) IN
THE EVENT OF AN INTENTIONAL AND WILFUL BREACH IN BAD FAITH OF ANY REPRESENTATION, WARRANTY. COVENANT OR AGREEMENT CONTAINED IN THIS AGREEMENT BY THE OTHER PARTY. 

  
 37 

 ARTICLE 12 
 MISCELLANEOUS 
 12.1 Governing Law; Arbitration. 

(a) In accordance with Section 5.1, inventorship of inventions and discoveries will be determined in accordance with U.S.
patent laws and authorship of copyrighted works will be determined in accordance with U.S. copyright laws. Otherwise, this Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to any
rules of conflict of laws. 
 (b) If any controversy or claim arising out of or relating to this Agreement cannot first be
resolved by the Parties within [**] days after written notice thereof, then, absent written agreement to the contrary, arbitration pursuant to the terms hereof shall be the sole and exclusive method of resolution of such dispute. Either Party may
submit the controversy or claim to confidential binding arbitration in accordance with the JAMS Comprehensive Arbitration Rules and Procedures then in effect. The arbitration will be conducted by one arbitrator, mutually selected by the Parties;
provided, however, that if the Parties fail to mutually select an arbitrator within [**] Business Days after the claim is submitted to arbitration, then the arbitrator shall be selected by JAMS in accordance with its Comprehensive
Arbitration Rules and Procedures then in effect. The Parties agree to use commercially reasonable efforts to cause the arbitration hearing to be conducted within [**] days after the appointment of the arbitrator, and to use commercially reasonable
efforts to cause the decision of the arbitrator to be furnished within [**] days after the conclusion of the arbitration hearing. The final decision of the arbitrator shall be provided in writing to the Parties and include (a) the dollar amount
of any award or specific performance, if any, and (b) a determination as to whether either Party shall be required to bear and pay all or a portion of the other Party’s attorneys’ fees and other expenses relating to the arbitration.
Judgment upon any award, judgment, decree or order rendered by the arbitrator may be entered in any court having competent jurisdiction. The place of the arbitration hearing shall be in the City of New York, New York and the language of the
arbitration shall be English. 
 12.2 Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by
Concert are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code or any analogous provisions in any other country or jurisdiction, licenses of right to “intellectual property” as defined
under Section 101 of the U.S. Bankruptcy Code. Each Party shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code or any analogous provisions in any other country or jurisdiction. In the event of the
commencement of a bankruptcy proceeding by or against a Party under the U.S. Bankruptcy Code or any analogous provisions in any other country or jurisdiction, the other Party shall be entitled to a complete duplicate of (or complete access to, as
appropriate) any such intellectual property and all embodiments of such intellectual property, which, if not already in such other Party’s possession, shall be promptly delivered to it (i) upon any such commencement of a bankruptcy
proceeding upon such other Party’s written request therefor, unless the Party subject to the bankruptcy proceeding elects to continue to perform all of its obligations under this 

  
 38 

 
Agreement, or (ii) if not delivered under clause (i) above, following the rejection of this Agreement by or on behalf of the Party subject to the bankruptcy proceeding upon written request
therefor by the other Party. 
 12.3 Force Majeure. 

Neither Party shall be held liable to the other Party nor be deemed to have defaulted under or breached the Agreement for failure or
delay in performing any obligation under the Agreement to the extent such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including embargoes, war, acts of war (whether war be declared or
not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, fire, floods, or other acts of God, or acts, omissions or delays in acting by any governmental authority (including by a Regulatory Authority, for any
reason other than lack of due diligence, negligence or misconduct of the affected) or the other Party. The affected Party shall notify the other Party of such force majeure circumstances as soon as reasonably practical, and shall promptly undertake
all reasonable efforts necessary to cure such force majeure circumstances. 
 12.4 Severability. 

If any one or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties
shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the purposes of this Agreement. 

12.5 Waivers. 
 Any term or condition of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly
executed by or on behalf of the Party or Parties waiving such term or condition. Neither the waiver by any Party of any term or condition of this Agreement nor the failure on the part of any Party, in one or more instances, to enforce any of the
provisions of this Agreement or to exercise any right or privilege, shall be deemed or construed to be a waiver of such term or condition for any similar instance in the future or of any subsequent breach hereof. All rights, remedies, undertakings,
obligations and agreements contained in this Agreement shall be cumulative and none of them shall be a limitation of any other remedy, right, undertaking, obligation or agreement. 

12.6 Entire Agreements; Amendments. 
 This Agreement sets forth the entire agreement and understanding between the Parties as to the subject matter hereof and supersedes all agreements or understandings, verbal or written, made between
Concert and Avanir before the date hereof with respect to the subject matter hereof, including the Nondisclosure Agreement between the Parties, dated April 5, 2011. All Confidential Information disclosed by Concert to Avanir before the
Effective Date will be 

  
 39 

 
deemed to have been disclosed pursuant to this Agreement. Except for the Development Plan (which may be amended from time to time by the JSC subject to Section 2.1.5), none of the
terms of this Agreement shall be amended, supplemented or modified except in writing signed by the Parties. 
 12.7
Construction. 
 Except where expressly stated otherwise in this Agreement, the following rules of interpretation
apply to this Agreement: (i) “include”, “includes” and “including” are not limiting and mean include, includes and including, without limitation; (ii) definitions contained in this Agreement are applicable to
the singular as well as the plural forms of such terms; (iii) references to an agreement, statute or instrument mean such agreement, statute or instrument as from time to time amended, modified or supplemented; (iv) references to a Person
are also to its permitted successors and assigns; (v) references to an “Article”, “Section”, or “Exhibit” refer to an Article or Section of, or any Exhibit to, this Agreement unless otherwise indicated;
(vi) the word “will” shall be construed to have the same meaning and effect as the word “shall” and vice versa; (vii) the word “any” shall mean “any and all” unless otherwise indicated by context;
and (viii) the word “or” means in the alternative or together, i.e., “and/or”. 
 12.8
Assignment. 
 12.8.1 Except as provided in this Section 12.8, this Agreement may not be assigned or
otherwise transferred, nor may any right or obligation hereunder be assigned or transferred, by either Party without written consent of the other Party. Notwithstanding the foregoing, each Party may, without consent of the other Party, assign this
Agreement and its rights and obligations hereunder in their entirety to an Affiliate or in connection with a Change of Control. Any attempted assignment not in accordance with this Section 12.8 shall be void. Any permitted assignee shall
assume all assigned obligations of its assignor under this Agreement. 
 12.8.2 Concert shall not assign ownership (in whole or
in part), in and to the Concert Patents or Concert Technology, in each case without the prior written consent of Avanir, which consent shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, Concert may assign any
such interest in whole or in part without such consent (i) to an Affiliate or (ii) in connection with a Change of Control; provided, however, that in each case, such assignment is in connection with a permitted assignment of this
Agreement and to the same assignee as to which this Agreement is assigned, that such assignment is expressly made subject to the rights granted to Avanir under this Agreement, and that the assignee assumes in writing Concert’s obligations under
this Agreement. 
 12.9 Subcontracting. 
 Either Party may subcontract any of its obligations under this Agreement with the prior written consent of the JSC; provided, however, that no such consent is required by Avanir after First
IND. Except with sales agents and distributors of Avanir for commercialization of the Licensed Products, in any subcontract with a Third Party, such Party shall ensure that (i) that Third Party subcontractor is bound by obligations of
confidentiality no less stringent than those 

  
 40 

 
imposed on the Parties under this Agreement, (ii) all inventions, discoveries or materials created, identified, conceived, reduced to practice or developed by the Third Party subcontractor
in the scope of its, his or her engagement with a party in connection with the subcontract agreement, and in furtherance of the Development Program, are appropriately documented and disclosed promptly to the subcontracting Party, and
(iii) shall (a) grant to Concert, Avanir and their Representatives a right to inspect the subcontractor’s relevant records and facilities; (b) require the subcontractor to be in good standing with all applicable Governmental
Authorities; (c) require the subcontractor to comply (as appropriate) with current good laboratory practices, current good manufacturing laboratory practices or other Laws to the extent applicable to the services or deliverables to be provided
by the subcontractor; and (d) require that the subcontractor has no outstanding violations or citations that would or may impair the services or deliverables to be provided by such subcontractor. 

12.10 Independent Contractor. 
 The relationship between Concert and Avanir is that of independent contractors. Concert and Avanir are not joint venturers, partners, principal and agent, employer and employee, and have no other
relationship other than independent contracting Parties. The Parties’ obligations and rights in connection with the subject matter of this Agreement are solely and specifically as set forth in this Agreement, and the Parties acknowledge and
agree that neither Party owes the other any fiduciary or similar duties or obligations by virtue of the relationship created by Agreement. 
 12.11 Notices. 
 All notices which are required or permitted hereunder shall be in
writing and sufficient if delivered personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by nationally-recognized overnight courier or sent by registered or certified
mail, postage prepaid, return receipt requested, addressed as follows: 
  

			
	If to Concert:	    	 Concert Pharmaceuticals, Inc.

99 Hayden Avenue, Suite 500
 Lexington,
Massachusetts 02421
 USA
 Attn.: Chief
Executive Officer
 Facsimile: 1.781.674.5309

		
	and copy to:	    	 WilmerHale
 60 State
Street
 Boston, Massachusetts 02109

USA
 Attn.: Steven D. Barrett, Esq.

Facsimile: 1.617.526.5000

		
	If to Avanir:	    	 Avanir Pharmaceuticals, Inc.

20 Enterprise, Suite 200
 Aliso Viejo, CA
92656
 Attention: Sr. Vice President & Chief Business Officer
 Facsimile: 1-949-643-6869

  
 41 

			
	and copy to:	    	 Thomas A. Briggs
 Jones
Day
 12265 El Camino Real, Suite 200

San Diego, California 92130
 USA

Facsimile: 1.858.314.1150

 or to such other address as the Party to whom notice is to be given may have furnished to the other Party in writing in
accordance herewith. Any such notice shall be deemed to have been given: (a) when delivered if personally delivered or sent by facsimile on a business day; (b) on the business day after dispatch if sent by nationally recognized overnight
courier; or (c) on the fifth business day following the date of mailing if sent by mail. 
 12.12 Third Party
Beneficiaries 
 None of the provisions of this Agreement shall be for the benefit of or enforceable by any Third Party,
including any creditor of either Party. No Third Party shall obtain any right under any provision of this Agreement or shall by reason of any such provision make any claim in respect of any debt, liability or obligation (or otherwise) against either
Party. 
 12.13 Performance by Representatives 
 To the extent that this Agreement imposes obligations on Representatives of a Party, such Party agrees to cause its Representatives to perform such obligations. 

12.14 Binding Effect. 
 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, successors and permitted assigns. 

12.15 Counterparts. 
 This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be
executed by delivery of duly authorized and executed signature pages by facsimile. 

  
 42 

 <Signature page follows.> 

  
 43 

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

									
	Concert Pharmaceuticals, Inc.	 		 	Avanir Pharmaceuticals, Inc.
					
	By:	 	 /s/ Roger D. Tung
	 		 	By:	 	 /s/ Gregory J. Flesher

	Name:	 	Roger D. Tung	 		 	Name:	 	Gregory J. Flesher
	Title:	 	CEO & President	 		 	Title:	 	SVP & Chief Business Officer

  
 44 

 Schedule 1.11  

CONCERT PATENTS 
  

											
	 COUNTRY
	  	 F&R REF.
	  	 FILED
	  	 SERIAL NO.
	  	 STATUS
	  	 TITLE

	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]

  
 45 

 Schedule 1.16 

D-DM 
 “D-DM”
means any compound having the structure of dextromethorphan, which is illustrated below, or a salt, solvate, or hydrate thereof, wherein for a given sample of the compound, the abundance of deuterium at one or more of the hydrogens of
dextromethorphan is greater than the natural abundance of deuterium. 
  
 

 
 The compound, or salt, solvate, or hydrate thereof, includes any polymorphic or amorphous form. 

The term “D-DM” also includes [**]. 

  
 46 

 Schedule 1.17 

[**] 
 [**] 

  
 47 

 EXHIBIT A: DEVELOPMENT PLAN 

(See attached.) 

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

  
 48 

 Exhibit A – Development Plan 
 Concert Resources (numbers shown are FTE hours) 
  

							
	 Personnel
	  	 3/1/2012 – 8/31/2012
	  	 9/1/2012 – 2/28/2013
	  	 Total

	[**]	  	[**]	  		  	[**]
	[**]	  	[**]	  		  	[**]
	[**]	  	[**]	  		  	[**]
	[**]	  	[**]	  		  	[**]
	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]

  
 49EX-10.17

					
		 	Confidential Materials omitted and filed separately with the
Securities and Exchange Commission. Double asterisks denote omission.	 	Exhibit 10.17

 EXECUTION COPY 

CONFIDENTIAL 
 DEVELOPMENT AND LICENSE AGREEMENT 
 This DEVELOPMENT
AND LICENSE AGREEMENT (the “Agreement”) is entered into as of February 26, 2013 (the “Effective Date”) by and between CONCERT
PHARMACEUTICALS, INC., a Delaware corporation, with its principal place of business at 99 Hayden Avenue, Suite 500, Lexington, MA 02421, USA (“Concert”), and JAZZ
PHARMACEUTICALS IRELAND LIMITED, an Irish company, with its principal place of business at Fourth Floor, Connaught House, One Burlington Road, Dublin 4, Ireland
(“Jazz”). Concert and Jazz are sometimes referred to herein individually as a “Party” and collectively as the “Parties”. 
 RECITALS 
 WHEREAS, Concert possesses
certain intellectual property related to its proprietary deuterated sodium gamma-hydroxybutyrate drug candidates; 

WHEREAS, Jazz is a specialty biopharmaceutical company with expertise in the development, marketing,
and commercialization of pharmaceutical products; and 
 WHEREAS, Concert desires to grant
Jazz an exclusive license, and Jazz desires to obtain a license, to develop and commercialize products containing deuterated sodium gamma-hydroxybutyrate or related compounds worldwide, all in accordance with the terms and conditions set forth
herein. 
 NOW, THEREFORE, in consideration of the
foregoing premises and the mutual promises, covenants and conditions contained in this Agreement, the Parties agree as follows: 

ARTICLE 1 

DEFINITIONS 
 1.1 “Acquiror” has the meaning set forth in Section 1.4. 

1.2 “Affiliate” means, with respect to a particular Party or other entity, a person, corporation, partnership, or
other entity that controls, is controlled by or is under common control with such Party or other entity. For the purposes of this definition, the word “control” (including, with correlative meaning, the terms “controlled by” or
“under common control with”) means the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the ownership of fifty
percent (50%) or more of the voting stock of such entity, or by contract or otherwise. 
 1.3
“Business Day” means a day other than Saturday, Sunday or any day that banks in Dublin, Ireland or Lexington, Massachusetts, U.S. are required or permitted to be closed. 

1.4 “Change of Control” means, with respect to a Party, (a) a merger or consolidation of such Party with a
Third Party that results in the voting securities of such Party outstanding immediately prior thereto ceasing to represent at least fifty percent (50%) of the combined voting power of the surviving entity immediately after such merger or
consolidation, or (b) a transaction or series of related transactions in which a Third Party, together with its Affiliates, becomes the beneficial owner of fifty percent (50%) or more of the combined voting power of the outstanding

  
 1. 

 
securities of such Party, or (c) the sale or other transfer to a Third Party of all or substantially all of such Party’s assets. The Third Party in any of (a), (b) or (c), and
any of such Third Party’s Affiliates (other than the acquired Party and its Affiliates as in existence prior to the applicable transaction) are referred to collectively as the “Acquiror”. 

1.5 “Claims” has the meaning set forth in Section 9.1. 

1.6 “Combination Product” means: (a) a pharmaceutical product that consists of a Licensed Product and at
least one other clinically effective active ingredient that is not a Licensed Product; or (b) any combination of a Licensed Product and another pharmaceutical product that contains at least one other clinically effective active ingredient that
is not a Licensed Product, where such products are not formulated together but are sold together as a single product and invoiced as one product. The other clinically effective active ingredient(s) in clause (a) and the other pharmaceutical
product(s) in clause (b) are each referred to as the “Other Product(s)”. 
 1.7
“Commercialization” means the marketing, promotion, sale and/or distribution of Licensed Products in the Territory, and all related manufacturing activities not included in the definition of Development. Commercialization shall
include commercial activities conducted in preparation for Licensed Product launch. “Commercialize” has a correlative meaning. 
 1.8 “Commercially Reasonable Efforts” means, [**]. 

1.9 “Concert Indemnitees” has the meaning set forth in Section 9.2. 

1.10 “Confidential Information” of a Party means any and all Information of such Party or any of such
Party’s Affiliates that is disclosed to the other Party or any of the other Party’s Affiliates under this Agreement, whether in oral, written, graphic, or electronic form and such other Information identified elsewhere in this Agreement as
the Confidential Information of such Party. In addition, (a) all Information disclosed by Concert pursuant to the Bilateral Nondisclosure Agreement between Concert and Jazz Pharmaceuticals, Inc. (“JPI”), an Affiliate of Jazz,
dated December 6, 2010 (the “Confidentiality Agreement”) shall be deemed to be Concert’s Confidential Information disclosed hereunder, and all Information disclosed by JPI pursuant to the Confidentiality Agreement shall be
deemed to be Jazz’s Confidential Information disclosed hereunder, and (b) all Confidential Information (as defined in the Feasibility Agreement) of Concert under the Feasibility Study Agreement between Concert and JPI, dated June 2,
2011 (the “Feasibility Agreement”), shall be deemed to be Concert’s Confidential Information disclosed hereunder, and all Confidential Information (as defined in the Feasibility Agreement) of JPI under the Feasibility Study
Agreement shall be deemed to be Jazz’s Confidential Information disclosed hereunder; provided that any use or disclosure of any Information under clause (a) or (b) that is authorized under Article 10 shall not be restricted by, or be
deemed a violation of, the Confidentiality Agreement or the Feasibility Agreement. 
 1.11
“Control” means, with respect to any material, Information, or intellectual property right, that a Party or its Affiliate (a) owns or (b) has a license (other than a license granted to such Party under this Agreement)
to such material, Information, or intellectual property right and, in each case, has the ability to grant to the other Party access, a license, or a sublicense (as applicable) to the foregoing on the terms and conditions set forth in this Agreement
without violating the terms of any then-existing agreement or other legally enforceable arrangement with any Third Party. 

  
 2. 

 1.12 “Cover” means, with respect to a claim of a Patent and a
Licensed Product, that such claim would be infringed, absent a license, by the manufacture, use, offer for sale, sale or importation of such Licensed Product (considering claims of patent applications to be issued as then pending).

 1.13 “Covering Claim” has the meaning set forth in Section 6.5(b). 

1.14 “Derivative” means a compound that [**]. 

1.15 “Develop” or “Development” means all activities that relate to the development of Licensed
Products or to (a) obtaining, maintaining or expanding Regulatory Approval of a Licensed Product, or (b) developing the ability to manufacture clinical and commercial quantities of a Licensed Product. This includes: (i) preclinical
testing, toxicology, and clinical trials; (ii) preparation, submission, review, and development of data or information for the purpose of submission to a Governmental Authority to obtain, maintain or expand Regulatory Approval of a Licensed
Product; and (iii) manufacturing process development and scale-up, bulk production and fill/finish work associated with the supply of a Licensed Product for preclinical testing and clinical trials, and related quality assurance and technical
support activities. 
 1.16 “Development Budget” has the meaning set forth in Section 4.2(a).

 1.17 “Development Data” has the meaning set forth in Section 4.7. 

1.18 “Development Invention” has the meaning set forth in Section 7.1. 

1.19 “Development Patent” means any Patent claiming a Development Invention. 

1.20 “Development Plan” has the meaning set forth in Section 4.2(a). 

1.21 “Development Program” has the meaning set forth in Section 4.2(a). 

1.22 “Diligent Efforts” means, [**]. 
 1.23 “Dispute” has the meaning set forth in Section 12.1. 

1.24 “Dollar” means a U.S. dollar, and “$” shall be interpreted accordingly. 

1.25 “D-GHB Compound” has the meaning set forth in Schedule 1.25. 

1.26 “EMA” means the European Medicines Agency or any successor entity. 

1.27 “EU” or “European Union” means the European Union member states as then constituted. As of
the Effective Date, the European Union member states are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland,
Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and United Kingdom. 

  
 3. 

 1.28 “Executive Officer” means, with respect to Concert, its Chief
Executive Officer or its Chief Operating Officer, and with respect to Jazz, its Executive Vice President, Research and Development or its Executive Vice President and Chief Commercial Officer. 

1.29 “FD&C Act” means the U.S. Federal Food, Drug, and Cosmetic Act, as amended. 

1.30 “FDA” means the U.S. Food and Drug Administration or any successor entity. 

1.31 “Field” means the treatment of any and all human diseases and conditions. 

1.32 “First Commercial Sale” means, with respect to a Licensed Product, the first sale on a commercial basis to a
Third Party of such Licensed Product in a given regulatory jurisdiction after Regulatory Approval has been obtained in such jurisdiction for such Licensed Product. 
 1.33 “FTE” means the equivalent of a full-time Concert employee’s work, at least [**] hours per year, as adjusted to account for vacation and other permitted time off, for a
twelve (12)-month period, performing activities under the Development Plan. Any such employee who works more than [**] hours per year performing activities under the Development Plan shall be considered one (1) (and no more) FTE. If any such
employee works partially on work under the Development Plan and partially on other work in a calendar month, then the full-time equivalent to be attributed to such employee’s work hereunder shall be calculated based upon the percentage of such
employee’s total work time in such calendar month that such employee spent working under the Development Plan divided by twelve (12). FTE efforts shall be limited to work of a scientific, technical or regulatory professional only and shall not
include work by general corporate and non-technical administrative personnel. Concert shall track FTEs using its standard practice and normal systems and methodologies, all as accounted for and consistently applied according to U.S. generally
accepted accounting principles (“GAAP”). 
 1.34 “FTE Rate” means the rate of
FTE costs incurred by Concert, which for the purpose of this Agreement shall be [**] Dollars ($[**]) per FTE. For the avoidance of doubt, the FTE Rate excludes travel, hotel, and similar out-of-pocket expenses paid to Third Parties, and amounts paid
to consultants (collectively, “FTE-Related Costs”). 
 1.35 “Generic Product”
means, with respect to a Licensed Product in a particular regulatory jurisdiction, any pharmaceutical product that (a)(i) contains the same D-GHB Compound as such Licensed Product for the same route of administration as such Licensed Product and is
approved by the Regulatory Authority in such country; or (ii) is A-Level Rated (defined below) with respect to such Licensed Product or otherwise approved by the Regulatory Authority in such country as a substitutable generic for such Licensed
Product; and (b) is sold in such jurisdiction by a Third Party that is not a Sublicensee, is not authorized by, and did not purchase such product or its active pharmaceutical ingredients from, Jazz or its Affiliates or Sublicensees. For
purposes of this definition, “A-Level Rated” means, for the U.S., “therapeutically equivalent” as determined by the FDA, applying the definition of “therapeutically equivalent” set forth in the preface to the
then-current edition of the FDA publication “Approved Drug Products With Therapeutic Equivalence Evaluations” and, for outside the U.S., such equivalent determination by the applicable Regulatory Authority. 

  
 4. 

 1.36 “GCP” or “Good Clinical Practices” means the
then-current good clinical practice standards, practices and procedures promulgated or endorsed by the FDA as set forth in the guidelines entitled “Guidance for Industry E6 Good Clinical Practice: Consolidated Guidance,” including related
regulatory requirements imposed by the FDA and comparable regulatory standards, practices and procedures promulgated by the EMA or other Regulatory Authority applicable to the Territory, as they may be updated from time to time, including applicable
quality guidelines promulgated under the ICH. 
 1.37 “GLP” or “Good Laboratory
Practices” means the then-current good laboratory practice standards promulgated or endorsed by the FDA as defined in 21 C.F.R. Part 58, and comparable regulatory standards promulgated by the EMA or other Regulatory Authority applicable to
the Territory, as they may be updated from time to time, including applicable quality guidelines promulgated under the ICH. 
 1.38 “GMP” or “Good Manufacturing Practices” means the then-current good manufacturing practices required by the FDA, as set forth in the FD&C Act and the
regulations promulgated thereunder, for the manufacture and testing of pharmaceutical materials, and comparable laws and regulations applicable to the manufacture and testing of pharmaceutical materials promulgated by other Regulatory Authorities,
as they may be updated from time to time. 
 1.39 “Governmental Authority” means any
multi-national, federal, state, local, municipal, provincial or other governmental authority of any nature (including any governmental division, prefecture, subdivision, department, agency, bureau, branch, office, commission, council, court or other
tribunal). 
 1.40 “ICH” means International Conference on Harmonisation. 

1.41 “IND” means (a) an Investigational New Drug Application as defined in the FD&C Act and applicable
regulations promulgated thereunder by the FDA, or (b) the equivalent application to the equivalent agency in any other regulatory jurisdiction, the filing of which is necessary to initiate or conduct clinical testing of a pharmaceutical product
in humans in such jurisdiction. 
 1.42 “Indemnified Party” has the meaning set forth in Section
9.3. 
 1.43 “Indemnifying Party” has the meaning set forth in Section 9.3. 

1.44 “Indication” means a separately defined, well-categorized class of human disease or condition for which a
separate MAA (including any extensions or supplements) may be filed with a Regulatory Authority; [**]. 
 1.45
“Information” means any data, results, technology, business or financial information or information of any type whatsoever, in any tangible or intangible form, including know-how, trade secrets, practices, techniques, methods,
processes, inventions, developments, specifications, formulations, formulae, software, algorithms, marketing reports, expertise, technology, test data (including pharmacological, biological and chemical, biochemical, clinical test data and data
resulting from non-clinical studies), CMC information, stability data and other study data and procedures. 

  
 5. 

 1.46 “Initiation” means, with respect to a clinical trial, first
dosing of the first subject in such clinical trial. 
 1.47 “Jazz Compound” has the meaning set forth in
Schedule 1.47. 
 1.48 “Jazz Development Invention” has the meaning set forth in Section 7.1.

 1.49 “Jazz Indemnitees” has the meaning set forth in Section 9.1. 

1.50 “Joint Inventions” has the meaning set forth in Section 7.1. 

1.51 “Joint Patents” has the meaning set forth in Section 7.1. 

1.52 “Joint Patent Committee” or “JPC” means the committee formed by the Parties as described in
Section 3.2. 
 1.53 “Joint Steering Committee” or “JSC” means the committee formed by
the Parties as described in Section 3.1. 
 1.54 “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, domestic or foreign. 

1.55 “Licensed Intellectual Property” means the Licensed Know-How and Licensed Patents. 

1.56 “Licensed Know-How” means all Information Controlled by Concert or its Affiliates as of the Effective Date
or during the Term that is necessary or useful to develop, manufacture, use, offer for sale, sell or import any D-GHB Compound. Licensed Know-How includes all Joint Inventions, all Development Inventions that are solely owned by Concert, all data
and results generated under the Feasibility Agreement, and all CONCERT Inventions and jointly-owned (by JPI and Concert) Inventions under the Feasibility Agreement (as such terms are defined in the Feasibility Agreement), in each case that are
necessary or useful to develop, manufacture, use, offer for sale, sell or import any D-GHB Compound. [**]. 
 1.57
“Licensed Patent” means any Patent that (a) is Controlled by Concert or its Affiliates as of the Effective Date or at any time during the Term, and (b) is necessary or useful to develop, manufacture, use, offer for
sale, sell or import any D-GHB Compound. Licensed Patents include all Patents listed on Exhibit A. Licensed Patents also include all Joint Patents, all Development Patents that are solely owned by Concert, and all Patents owned by Concert
that claim or disclose Inventions under the Feasibility Agreement (as Inventions is defined in the Feasibility Agreement), in each case that are necessary or useful to develop, manufacture, use, offer for sale, sell or import any D-GHB Compound.
[**] 
 1.58 “Licensed Product” means any product containing a D-GHB Compound, including all
forms, presentations, doses and formulations, the composition of matter, manufacture or use of which is claimed by or uses or embodies any Licensed Intellectual Property. 

  
 6. 

 1.59 “Major European Country” means any one of the United Kingdom,
Germany, France, Italy and Spain. 
 1.60 “Marketing Authorization Application” or
“MAA” means an application to the appropriate Regulatory Authority for approval to market a Licensed Product (but excluding Pricing Approval) in any particular jurisdiction, including an NDA in the U.S. 

1.61 “NDA” means a New Drug Application, as defined in the FD&C Act, as amended, and applicable regulations
promulgated thereunder by the FDA. 
 1.62 “Net Sales” means, with respect to any Licensed
Product, the gross amounts invoiced by Jazz and its Affiliates and Sublicensees for sales of such Licensed Product in the Field to unaffiliated Third Parties, less the following deductions provided to unaffiliated entities and actually allowed and
taken: 
 (a) cash, trade or quantity discounts, coupons, charge-back payments, including administrative fees in
connection therewith, and rebates actually granted to trade customers, retail pharmacy chains, wholesalers, managed health care organizations, pharmaceutical benefit managers, insurers, group purchasing organizations and national, state, or local
government; 
 (b) credits, rebates or allowances actually allowed upon prompt payment or on account of claims, damaged
goods, rejections or returns of Licensed Products, including in connection with recalls, and the actual amount of any write-offs for bad debt (provided that any amount subsequently recovered will be treated as Net Sales); 

(c) reasonable specialty distribution and dispensing fees in connection with Licensed Products, as calculated consistent with
Jazz’s then-current calculation methodology for such fees, if any; 
 (d) freight, postage, shipping, transportation
and insurance charges, in each case actually allowed or paid for delivery of Licensed Products; and 
 (e) taxes (other
than income taxes), duties, tariffs, mandated contributions or other governmental charges levied on the sale of Licensed Products, including VAT, excise taxes and sales taxes. 
 Notwithstanding the foregoing, amounts received or invoiced by Jazz or its Affiliates or Sublicensees for the sale of Licensed Products among Jazz and its Affiliates and Sublicensees shall not be included
in the computation of Net Sales hereunder; provided that such Licensed Products are intended for resale to non-Sublicensee Third Parties or for the purchaser’s internal use. Net Sales shall be accounted for in accordance with GAAP and the
selling party’s standard accounting practices. 
 Notwithstanding the foregoing, “Net Sales” shall not include
any amounts invoiced for sales of Licensed Products supplied for use in clinical trials of Licensed Products, or under early access, compassionate use, named patient, indigent access, patient assistance or other reduced pricing programs, provided
that the applicable selling party does not receive any consideration for such sale(s) in excess of the cost of goods of the applicable Licensed Products. 

  
 7. 

 Net Sales for a Combination Product in a country shall be calculated as follows: 

(i) If the Licensed Product and Other Product(s) each are sold separately in such country, Net Sales will be calculated by
multiplying the total Net Sales (as described above) of the Combination Product by the fraction A/(A+B), where A is the public or list price in such country of the Licensed Product sold separately in the same formulation and dosage, and B is the
(sum of the) public or list price(s) in such country of the Other Product(s) sold separately in the same formulation and dosage, during the applicable calendar year. 
 (ii) If the Licensed Product is sold independently of the Other Product(s) in such country, but the public or list price of the Other Product(s) cannot be determined, Net Sales will be calculated
by multiplying the total Net Sales (as described above) of such Combination Product by the fraction A/C, where A is the public or list price in such country of such Licensed Product sold independently and C is the public or list price in such
country of the Combination Product. 
 (iii) If the Other Product(s) are sold independently of the Licensed Product
therein in such country, but the public or list price of such Licensed Product cannot be determined, Net Sales will be calculated by multiplying the total Net Sales (as described above) of such Combination Product by the fraction [1-B/C], where B is
the (sum of the) public or list price(s) in such country of the Other Product(s) and C is the public or list price in such country of the Combination Product. 
 1.63 “New Product Marks” has the meaning set forth in Section 7.10. 
 1.64 “Non-Exclusive Patent” means, [**]. 
 1.65
“Patents” means (a) pending patent applications, issued patents, utility models and designs; (b) reissues, substitutions, confirmations, registrations, validations, re-examinations, additions, continuations, continued
prosecution applications, continuations-in-part, or divisions of or to any of the foregoing; and (c) extensions, renewals or restorations of any of the foregoing by existing or future extension, renewal
or restoration mechanisms, including supplementary protection certificates or the equivalent thereof. 
 1.66
“Patent Activities” means activities related to the preparation, filing, prosecution and maintenance of the Licensed Patents and initiation of and participation in oppositions, reexaminations, reissues, interferences, nullity
actions, invalidation actions and post-grant reviews. 
 1.67 “Patent Countries” means the
countries set forth on Exhibit B. 
 1.68 “Phase 1 Clinical Trial” means a human clinical trial
of a Licensed Product, the principal purpose of which is to evaluate safety in healthy individuals or patients, to determine pharmacokinetic parameters and other key pharmaceutical properties of the Licensed Product (including absorption,
metabolism, and elimination), or to determine the appropriate range of doses to evaluate in further clinical trials, in each case as described in 21 C.F.R. § 312.21(a), as amended from time to time, or the corresponding foreign regulations.

  
 8. 

 1.69 “Phase 2 PoC Clinical Trial” means a human clinical trial of a
Licensed Product, the principal purpose of which is to evaluate the effectiveness and/or safety of such Licensed Product in the target patient population, as described in 21 C.F.R. § 312.21(b), as amended from time to time, or the corresponding
foreign regulations, and which trial is intended to enable the initiation of a Pivotal Clinical Trial and to establish the dosing for such Pivotal Clinical Trial. 
 1.70 “Pivotal Clinical Trial” means a pivotal human clinical trial of a Licensed Product with a defined dose or a set of defined doses of such Licensed Product designed to
ascertain efficacy and safety of such Licensed Product for the purpose of enabling the preparation and submission of an MAA to the competent Regulatory Authorities in a country of the Territory, as further defined in 21 C.F.R. § 312.21(c) for
the U.S., as amended from time to time, or the corresponding foreign regulations. 
 1.71 “Platform
Licensed Patent” means a Licensed Patent that Covers a D-GHB Compound and at least one deuterated compound that is not a D-GHB Compound. 
 1.72 “Pricing Approval” means such governmental approval, agreement, determination or decision establishing prices for a Licensed Product that can be charged and/or reimbursed in
regulatory jurisdictions where the applicable Governmental Authorities approve or determine the price and/or reimbursement of pharmaceutical products. 
 1.73 “Product Infringement” has the meaning set forth in Section 7.5(a). 
 1.74 “Product Marks” has the meaning set forth in Section 7.10. 
 1.75 “Regulatory Approval” means all approvals (other than Pricing Approvals) of a Governmental Authority that are necessary for the commercial sale of a Licensed Product in the
Field in a given country or regulatory jurisdiction. 
 1.76 “Regulatory Authority” means, in a
particular country or jurisdiction, any applicable Governmental Authority involved in granting Regulatory Approval in such country or jurisdiction. 
 1.77 “Regulatory Materials” means regulatory applications, submissions, notifications, communications, correspondence, registrations, Regulatory Approvals and/or other filings made
to, received from or otherwise conducted with a Regulatory Authority in order to Develop, manufacture, market, sell or otherwise Commercialize a Licensed Product in a particular country or jurisdiction. 

1.78 “Royalty Term” has the meaning set forth in Section 6.5(b). 

1.79 “Sublicensee” means any Third Party granted a sublicense by Jazz to the rights licensed to Jazz under
Section 2.1(a) or 2.1(f). 

  
 9. 

 1.80 “Successful Completion” means with respect to a clinical trial,
satisfaction of the criteria established by the JSC under Section 4.4(a) for such clinical trial. 
 1.81
“Term” has the meaning set forth in Section 11.1. 
 1.82 “Territory” means all
countries of the world. 
 1.83 “Third Party” means any person or entity other than Concert or Jazz or
an Affiliate of either Party. 
 1.84 “Trademark” means any word, name, symbol, color, shape,
designation or device or any combination thereof, including any trademark, service mark, trade name, trade dress, brand name, product configuration, domain name, logo, design or business symbol, that functions as an identifier of source, origin or
membership, whether or not registered, and all statutory and common law rights therein, and all registrations and applications therefor, together with all goodwill associated with, or symbolized by, any of the foregoing. 

1.85 “U.S.” means the United States of America, including all possessions and territories thereof. 

1.86 “Valid Claim” means (a) a claim of an issued, unexpired patent within the Licensed Patents that has not
been revoked, disclaimed, abandoned or held invalid or unenforceable by a court or other body of competent jurisdiction in an unappealed or unappealable decision or (b) prior to the [**] anniversary of the Effective Date, a claim of any patent
application within the Licensed Patents that either (i) is or claims priority to a Licensed Patent listed on Exhibit A as of the Effective Date or (ii) is a foreign counterpart of any of the foregoing in clause (b)(i).

 1.87 “Working Group” has the meaning set forth in Section 3.1(e). 

ARTICLE 2 

LICENSES AND EXCLUSIVITY 
 2.1 License Grants for Licensed Products. 
 (a) License to Jazz.
Subject to the terms and conditions of this Agreement, Concert hereby grants Jazz an exclusive (even as to Concert except as provided in the first sentence of Section 2.1(c) and in Section 2.1(d) below) license, with the right to
sublicense through multiple tiers in accordance with Section 2.1(e), under the Licensed Know-How and Licensed Patents to make, have made, use, sell, have sold, offer for sale and import Licensed Products in the Field in the Territory.

 (b) License to Concert. During the Term and subject to the terms and conditions of this Agreement, Jazz hereby grants
Concert a non-exclusive license under Information and Patents Controlled by Jazz during the Term, solely to the extent necessary to conduct activities assigned to Concert under the Development Plan. 

(c) Concert Retained Rights. Notwithstanding the rights granted to Jazz in Section 2.1(a), Concert retains the right to
practice the Licensed Intellectual Property in the Field 

  
 10.

 
and in the Territory as necessary to conduct the activities assigned to Concert under the Development Plan in accordance with the terms of this Agreement. In addition, except for the rights
granted to Jazz in Section 2.2, Concert retains all other rights in the Licensed Intellectual Property (i) outside the Field for all purposes; and (ii) inside the Field with respect to products other than Licensed Products.

 (d) Metabolites. Notwithstanding the rights granted to Jazz in Section 2.1(a), Concert retains the right under
the Licensed Intellectual Property to make, have made, use, sell, have sold, offer for sale and import any product (other than a Licensed Product) in the Field in the Territory wherein such product, when administered to a human, produces a
metabolite that is also a metabolite of deuterated gamma-hydroxybutyrate, provided that such produced metabolite (i) is not therapeutically effective for any Indication for which deuterated gamma-hydroxybutyrate or gamma-hydroxybutyrate has
been shown to be effective or (ii) is produced in insufficient quantities to be therapeutically effective for any such Indication. 
 (e) Sublicenses. Jazz shall have the right to grant sublicenses through multiple tiers, under any or all of the rights granted in Section 2.1(a) or 2.1(f), to its Affiliates and to Third
Parties. Each agreement in which Jazz grants a sublicense under the Licensed Intellectual Property shall be consistent with the relevant terms and conditions of this Agreement. Any sublicense granted by Jazz to a Third Party under this Agreement
shall be in writing and Jazz shall provide Concert with a copy of such sublicense agreement within [**] days after the execution thereof; provided that Jazz may redact from such copy any financial or commercially sensitive terms and any other terms
not necessary for Concert to evaluate the compliance of such sublicense agreement with this Section 2.1(e). The existence and terms of each such sublicense agreement shall be the Confidential Information of Jazz. Jazz shall remain responsible
for the performance of its Sublicensees, and shall insure that each Sublicensee complies with all applicable terms and conditions of this Agreement. 
 (f) Additional License to Jazz. Subject to the terms and conditions of this Agreement, Concert hereby grants Jazz a non-exclusive, royalty-free, fully paid license, with the right to sublicense
through multiple tiers in accordance with Section 2.1(e), under the Non-Exclusive Patents, to make, have made, use, sell, have sold, offer for sale and import Licensed Products in the Field in the Territory; provided, however, that such license
shall not apply to any Licensed Product that is approved as a generic product if such approval was based upon (i) the Acquiror’s Regulatory Approval or data for the applicable reference listed drug (the “RLD”) or (ii) a
Third Party’s Regulatory Approval or data for the RLD, if such Third Party obtained its rights to the RLD, directly or indirectly, from the Acquiror. 
 2.2 License to Jazz for Jazz Compounds. 
 (a) License.
Subject to the terms and conditions of this Agreement, Concert hereby grants Jazz an exclusive (even as to Concert except as provided in Section 2.2(b) below), royalty-free, fully-paid, perpetual, irrevocable license, with the right to
sublicense through multiple tiers, under Concert’s interest in the Development Inventions and Development Patents, to make, have made, use, sell, have sold, offer for sale and import Jazz Compounds and products containing Jazz Compounds in the
Territory, and otherwise to exploit the Development Inventions and Development Patents in connection with the development, manufacture and 

  
 11.

 
commercialization of Jazz Compounds and products containing Jazz Compounds. For clarity, under no circumstances shall Jazz owe any amounts to Concert pursuant to this Agreement on account of the
development, manufacture or commercialization of Jazz Compounds or products containing Jazz Compounds. 
 (b)
Metabolites. Notwithstanding the rights granted to Jazz in Section 2.2(a), Concert retains the right under Concert’s interest in the Development Inventions and Development Patents to make, have made, use, sell, have sold, offer for
sale and import any product (other than a product containing a Jazz Compound) in the Field in the Territory wherein such product, when administered to a human, produces a metabolite that is also a metabolite of gamma-hydroxybutyrate, provided that
such produced metabolite (i) is not therapeutically effective for any Indication for which deuterated gamma-hydroxybutyrate or gamma-hydroxybutyrate has been shown to be effective or (ii) is produced in insufficient quantities to be
therapeutically effective for any such Indication. 
 2.3 Exclusivity. Concert hereby covenants that, during the Term,
neither it nor its Affiliates will (a) grant or offer any license or other rights to a Third Party, or otherwise discuss or negotiate with a Third Party the terms of any such license or rights (provided that Concert and its Affiliates may
offer, discuss or negotiate such license or rights after a notice of termination has been issued under Section 11.2 or 11.3), or (b) conduct any activities, whether independently or with or for the benefit of a Third Party, in each case
(a) and (b) with respect to the research, development, manufacture or commercialization of any D-GHB Compound, any Licensed Product, any Derivative or any Jazz Compound in the Field in the Territory. [**] set forth in this Section 2.3
[**] with respect to (i) [**] or (ii) [**], provided that such [**] that is [**]. Notwithstanding the foregoing, [**] with respect to [**], provided that such [**]. 

2.4 No Implied Licenses. Except as explicitly set forth in this Agreement, neither Party shall be deemed by estoppel or
implication to have granted the other Party any license or other right to any intellectual property of such Party. 

ARTICLE 3 

GOVERNANCE 

3.1 Joint Steering Committee. 
 (a) Formation and Role. Promptly, and in any event within [**] days after the Effective Date, the Parties shall establish a joint steering committee (the “Joint Steering Committee”
or “JSC”) to coordinate, oversee, review and discuss the Parties’ activities with respect to the Development of Licensed Products hereunder. For that purpose and to the extent reasonably necessary, the JSC will: 

(i) coordinate the activities of the Parties under the Development Plan, including facilitating communications and discussions
between the Parties with respect to the Development of Licensed Products under the Development Plan; 
 (ii) review,
discuss and approve any proposed amendments or revisions to the Development Plan; 

  
 12.

 (iii) oversee technology transfer from Concert to Jazz; 

(iv) establish the criteria for Successful Completion of a Phase 1 Clinical Trial and Phase 2 PoC Clinical Trial pursuant to
Section 4.4(a); 
 (v) determine whether the criteria for Successful Completion have been satisfied pursuant to Section
4.4(b); 
 (vi) establish such Working Groups as it deems necessary to achieve the objectives and intent of this
Agreement; and 
 (vii) perform such other functions as appropriate to further the purposes of this Agreement, as
expressly set forth in this Agreement or as determined by the Parties in writing. 
 The JSC shall have only the powers
expressly assigned to it in this Section 3.1 and elsewhere in this Agreement, and shall have no power to amend, modify, or waive compliance with this Agreement. 
 (b) Members. Each Party shall initially appoint [**] representatives to the JSC, each of whom will be an officer or employee of the applicable Party (or in the case of Jazz, of Jazz or an Affiliate
of Jazz) having sufficient seniority within such Party (or Affiliate of Jazz) to make decisions arising within the scope of the JSC’s responsibilities. The JSC may change its size from time to time by mutual consent of its members, and each
Party may replace its representatives at any time upon written notice to the other Party. The JSC shall have a chairperson selected by [**]. The role of the chairperson shall be to convene and preside at the meetings of the JSC and to ensure the
preparation of meeting minutes, but the chairperson shall have no additional powers or rights beyond those held by other JSC representatives. Either Party may, from time to time, invite additional employees or consultants (including employees or
consultants of Jazz’s Affiliates) to attend JSC meetings; provided that such employees and consultants are subject to confidentiality obligations substantially the same as those set forth in Article 10. 

(c) Meetings. The JSC shall meet at least [**], unless the Parties mutually agree in writing to a different frequency for such
meetings, no further Development is contemplated or Jazz reduces the frequency pursuant to Section 3.3. Either Party may also call a special meeting of the JSC (by videoconference or teleconference) by providing at least [**] Business Days
prior written notice to the other Party in the event such Party reasonably believes that a significant matter must be addressed prior to the next regularly scheduled meeting, and such Party shall provide the JSC, no later than [**] Business Days
prior to the special meeting, with materials reasonably adequate to enable an informed decision. No later than [**] Business Days prior to any meeting of the JSC, the chairperson of the JSC shall prepare and circulate an agenda for such meeting;
provided, however, that either Party may propose additional topics to be included on such agenda, either prior to or in the course of such meeting. The JSC may meet in person, by videoconference or by teleconference, as the Parties agree; provided
that at least [**] (but no more than [**], unless agreed otherwise by the Parties) of the meetings of the JSC per calendar year shall be held in person, at locations chosen alternately by the Parties. Each Party shall bear the expense of its
respective JSC members’ participation in JSC meetings. Meetings of 

  
 13.

 
the JSC shall be effective only if at least [**] of each Party is present or participating in such meeting. The chairperson of the JSC shall be responsible for preparing reasonably detailed
written minutes of all JSC meetings that reflect, without limitation, all material decisions made at such meetings. The JSC chairperson shall send draft meeting minutes to each member of the JSC for review and approval within [**] Business Days
after each JSC meeting. Such minutes shall be deemed approved unless one or more members of the JSC objects to the accuracy of such minutes within [**] Business Days of receipt. 

(d) Decision Making. The JSC shall act by consensus except as described in this Section 3.1(d). The representatives from each
Party will have, collectively, one (1) vote on behalf of that Party. The JSC shall strive to seek consensus in its actions and decision making process. If the JSC is unable to reach consensus on any issue for which it is responsible within [**]
days after first considering such issue, then the JSC chairperson shall have the right to decide such matter and such decision shall be deemed to be a decision of the JSC; provided that the JSC chairperson shall not have the right to
(i) determine whether or not any milestone event that would result in a payment obligation under Section 6.3 or 6.4 has been achieved; (ii) amend the Development Plan in a manner that imposes Development obligations on Concert beyond
those in the then-current Development Plan without Concert’s written agreement to the scope of such development obligations; (iii) amend the Development Plan in a manner that would require Concert to perform activities for which Concert
has not agreed to a budgeted amount therefor in the Development Budget; or (iv) resolve any matter in a manner that would require Concert to perform any act that Concert reasonably believes to be inconsistent with any Law or any approval,
order, policy or guidelines of a Regulatory Authority or ethical requirements or guidelines. 
 (e) Working Groups. From
time to time, the JSC may establish and delegate duties to other committees, sub-committees or directed teams (each, a “Working Group”) on an “as-needed” basis to oversee particular projects or activities, such as
chemistry, manufacturing and controls, regulatory or clinical activities, which delegation shall be reflected in the minutes of the meetings of the JSC. Each such Working Group shall be constituted and shall operate as the JSC determines and shall
report to the JSC. Each Working Group and its activities shall be subject to the oversight, review and approval of the JSC. In no event shall the authority of the Working Group exceed that specified for the JSC in Section 3.1(a). Any
disagreement between the designees of Concert and of Jazz on a Working Group shall be referred to the JSC for resolution. 

3.2 Joint Patent Committee. 
 (a) Formation and Role. Within [**] days after the Effective Date, the Parties shall establish a joint patent committee (the “Joint Patent Committee” or “JPC”) to
discuss and determine the strategy for and implementation of the preparation, filing, prosecution and maintenance of the Licensed Patents, as described in and subject to the terms of Article 7. For that purpose and to the extent reasonably
necessary, the JPC will: 
 (i) manage prosecution of the Licensed Patents as described and in accordance with the terms
of Article 7, including the standards set forth in Section 7.4(a); 
 (ii) review invention disclosures in accordance
with the terms of Section 7.2; 

  
 14.

 (iii) provide advice, periodic updates and reports to the JSC regarding the Licensed
Patents; and 
 (iv) perform such other functions as expressly set forth in this Agreement or as determined by the
Parties in writing. 
 The JPC shall have only the powers expressly assigned to it in this Section 3.2 and elsewhere in
this Agreement, and shall have no power to amend, modify, or waive compliance with this Agreement. The JPC shall not have the power to determine inventorship or ownership of any Development Invention. 

(b) Members. Each Party shall appoint [**] to the JPC, who will have relevant expertise and sufficient seniority to make decisions
arising within the scope of the JPC’s responsibilities. Each Party may replace its representative at any time upon written notice to the other Party. The JPC shall have a chairperson, who shall serve for a term of one year, and who shall be
selected alternately, on an annual basis, by Concert or Jazz. The initial chairperson shall be selected by [**]. The role of the chairperson shall be to convene and preside at the meetings of the JPC and to ensure the preparation of meeting minutes,
but the chairperson shall have no additional powers or rights beyond those held by the other JPC representative. Either Party may, from time to time, invite additional employees or consultants (including employees or consultants of any Affiliate of
Jazz) to attend JPC meetings; provided that such employees and consultants are subject to confidentiality obligations substantially the same as those set forth in Article 10. 
 (c) Meetings. The JPC shall communicate on such dates and at such times as agreed upon by its members, but in no event less frequently than [**]. The JPC may meet in person, by videoconference or
by teleconference, as the Parties agree. Each Party shall bear the expense of its respective JPC member’s participation in JPC meetings. Meetings of the JPC shall be effective only if the representative of each Party is present or participating
in such meeting. The chairperson of the JPC shall be responsible for preparing reasonably detailed written minutes of all JPC meetings that reflect, without limitation, all material decisions made at such meetings. The JPC chairperson shall send
draft meeting minutes to the other member of the JPC for review and approval within [**] Business Days after each JPC meeting. Such minutes shall be deemed approved unless the other member objects to the accuracy of such minutes within [**] Business
Days of receipt. 
 (d) Decision Making. Any approval, determination or other action of the JPC shall require unanimous
agreement of both members of the JPC except as described in this Section 3.2(d). If the JPC is unable to reach consensus on any issue for which it is responsible within [**] days after first considering such issue, or such shorter time as
necessary to meet any applicable deadline to prevent abandonment of any Patent, then the matter shall be referred for resolution to a mutually acceptable independent Third Party expert with appropriate qualifications and experience in pharmaceutical
patent prosecution. If the Parties fail to agree upon an expert within [**] Business Days after the end of such [**]-day (or shorter) period, then each Party shall select an independent Third Party individual with appropriate qualifications and
experience in pharmaceutical patent prosecution, and the two selected individuals shall select an expert, with comparable independence, qualifications and experience, within [**] Business Days of selection of the two individuals. Such expert shall
resolve the matter in accordance with this Section 3.2(d). 

  
 15.

 
Each Party shall submit its proposal for the applicable patent office submission or decision to the expert within [**] Business Days after designation of such expert, with a copy to the other
Party. Neither Party shall communicate with the expert except by written communications copied to the other Party, or orally in the physical or telephonic presence of the other Party. The expert shall render a written decision within [**] Business
Days after the deadline for submission of materials from the Parties. The decision of the expert shall be final and binding on the Parties with respect to the action in dispute and shall be deemed to be the decision of the JPC with respect thereto.
The Parties agree that the content and fact of any and all such deliberations shall be the Confidential Information of each Party. The Parties shall share equally the costs of such expert. 

3.3 Discontinuation of Participation on a Committee. Each of the JSC and JPC shall continue to exist until the first to occur of
(a) the Parties mutually agreeing to disband such committee, (b) Concert providing to Jazz written notice of its intention to disband and no longer participate in such committee; provided that Concert may only exercise such right to
disband a committee following the completion of the first Phase 1 Clinical Trial of a Licensed Product or, if later, completion of all activities assigned to Concert under the Development Plan; or (c) Jazz providing to Concert written notice of
its intention to disband and no longer participate in such committee; provided that Jazz may only exercise such right to disband following the completion of all activities under the Development Plan. In addition, by providing Concert written notice,
Jazz may, following the completion of the first Phase 2 PoC Clinical Trial of a Licensed Product, reduce the frequency of JSC meetings to [**] times per calendar year. After a committee is disbanded under clauses (a) or (c) of this
Section 3.3, any decisions previously within the purview of such committee shall be decisions between the Parties under the terms of Section 3.1(d) or 3.2(d), as applicable, provided that in circumstances where the Parties fail to agree
and the decision would be made by (i) the JSC chairperson pursuant to Section 3.1(d), then Jazz shall make such decision or (ii) the independent Third Party expert pursuant to Section 3.2(d), then such independent Third Party
expert shall make such decision. After the JSC is disbanded under clause (b) of this Section 3.3, any decisions previously within the purview of the JSC shall be made by Jazz and references in this Agreement to the JSC shall thereafter be
deemed to be references to Jazz. After the JPC is disbanded under clause (b) of this Section 3.3, any decisions previously within the purview of the JPC that pertain to a Licensed Patent that is not a Platform Licensed Patent shall be made
by Jazz, and references in this Agreement to the JPC with respect to such Licensed Patents shall thereafter be deemed to be references to Jazz; provided that (A) such decisions shall be implemented by patent counsel selected by Jazz,
(B) Concert shall have the right to review and comment on Jazz’s preparation, filing, prosecution and maintenance of such Licensed Patents, and Jazz will provide all relevant and material documents to Concert sufficiently

  
 16.

 
in advance of any deadline such that Concert may reasonably exercise such comment right, (C) Jazz shall reasonably consider all such comments provided by Concert, and (D) to the extent
that Jazz disagrees with any such comments provided by Concert with respect to any matter, such matter will be decided by an independent Third Party expert in accordance with the terms of Section 3.2(d). After the JPC is disbanded under clause
(b) of this Section 3.3, any decisions previously within the purview of the JPC that pertain to a Platform Licensed Patent shall be made by Concert, and references in this Agreement to the JPC with respect to such Platform Licensed Patents
shall thereafter be deemed to be references to Concert; provided that (1) such decisions shall be implemented by patent counsel selected by Concert, (2) Jazz shall have the right to review and comment on Concert’s preparation, filing,
prosecution and maintenance of the Platform Licensed Patents, and Concert will provide all relevant and material documents to Jazz sufficiently in advance of any deadline such that Jazz may reasonably exercise such comment right, (3) Concert
shall reasonably consider all such comments provided by Jazz, and (4) to the extent that Concert disagrees with any such comments provided by Jazz with respect to any matter, such matter will be decided by an independent Third Party expert in
accordance with the terms of Section 3.2(d). In addition, Jazz shall have the right to disband either such committee in accordance with Section 13.7, in which case the terms of such section shall apply. 

ARTICLE 4  

DEVELOPMENT 
 4.1 Overview. The Parties agree to conduct Development of Licensed Products as provided in this Article 4 (including Section 4.3(a)), under the direction of the JSC and pursuant to the
Development Plan. 
 4.2 Development Program. 
 (a) General. The Parties intend and agree to undertake a development program to Develop Licensed Products (such program, the “Development Program”) in accordance with the terms of
this Article 4. All Development of Licensed Products under this Agreement will be conducted pursuant to a development plan (the “Development Plan”) that describes all Development activities to be conducted by the Parties in a [**]
(or longer) period, including, to the extent applicable for the period included under such plan: (i) the proposed overall program of Development for Licensed Products in the Territory, including preclinical studies, toxicology, formulation,
process development, supply, clinical studies, regulatory plans and other elements of obtaining Regulatory Approval(s) in the applicable country, (ii) the tasks allocated to each Party under the Development Program and estimated timelines for
such tasks and responsibilities, and (iii) a detailed budget for all such tasks allocated to Concert (the “Development Budget”). In the event of any inconsistency between the Development Plan and this Agreement, the terms of
this Agreement shall prevail. 
 (b) Initial Development Plan and Amendments. The Parties have agreed on the initial
Development Plan (excluding the Development Budget) for the first [**] of the Development Program, a copy of which is attached hereto as Exhibit C. The JSC shall determine the Development Budget at the first JSC meeting and following the
Parties’ receipt of estimates for services from Third Party subcontractors with respect to any activities included in the Development Plan that will be subcontracted to such Third Party subcontractors. From time to time (at least on [**]
basis), the JSC shall prepare amendments, as appropriate, to the then-current Development Plan. Such amendments shall reflect any changes, re-prioritization of studies within, reallocation of resources with respect to, or additions to the
Development Program, as well as an amendment of the Development Budget to address budget changes due to the addition or removal of activities from the Development Program or due to any change in the assumptions upon which a previously budgeted
amount was based. Once approved by the JSC, each updated or amended Development Plan shall become effective and supersede the previous Development Plan as of the date of such approval or at such other time as decided by the JSC. 

(c) Development Budget. Each activity in the Development Budget shall be identified as either (i) conducted by Concert’s
employees or consultants (i.e., FTE costs at the FTE 

  
 17.

 
Rate and FTE-Related Costs) or (ii) conducted by a Third Party contractor approved by Jazz pursuant to Section 4.10. With respect to Third Party contractor activities, Jazz will have
the right to approve each such contract and each statement of work thereunder prior to execution by Concert and such Third Party contractor. Jazz shall timely cooperate with Concert in reviewing and revising each draft Third Party contract and
statement of work. Each such contract or statement of work that is approved by Jazz and that either allows for the budget therein to be increased with respect to any activity after execution or does not have a fixed budget with a maximum amount
payable by Concert (each, a “Subcontract”) shall require the contractor to notify Concert promptly upon becoming aware of any anticipated increase in cost for any activity above the amount included in the Development Budget for such
activity. Concert shall notify the JSC promptly upon receiving notice from any contractor under a Subcontract of any such anticipated budget overage. Thereafter, the JSC shall promptly meet (and in any event soon enough to allow for a decision to be
made with minimal disruption to the applicable activities) to determine whether to increase the Development Budget for the applicable activity, to modify such activity, or other reasonable solution. The JSC shall amend the Development Plan,
including the Development Budget, accordingly, such that if the JSC does not increase the budgeted amount for the applicable activity in the Development Budget as required for the contractor to complete such activity in accordance with the terms of
the Subcontract, then (A) Concert shall not be obligated under the Development Plan to conduct that portion of such activity that the JSC determined not to fund and (B) if the JSC instructs Concert to terminate the Subcontract to avoid
such additional costs, the Parties shall share equally any termination fees that the contractor is entitled to as a result of such termination. 
 4.3 Development Diligence and Standards of Conduct. 
 (a) Jazz shall
use [**] to Develop and obtain Regulatory Approval of a Licensed Product in the Field in the Territory. Jazz shall not be in breach of the preceding sentence to the extent that any delay in conducting Development activities or seeking or obtaining
Regulatory Approval relates to any delay or disruption in supply, or from an inability to timely obtain sufficient supply, of raw materials for Licensed Product, including deuterium oxide. 

(b) Each Party shall carry out the tasks assigned to it under the Development Plan in a timely and effective manner; provided that
neither Party shall be in breach of this Section 4.3(b) for failing to conduct timely any activity to the extent that any such failure or delay results: (i) from the other Party’s failure to conduct timely any activities assigned to
such Party under the Development Plan; (ii) from the other Party unreasonably withholding or delaying its consent, if such withholding or delaying is a breach of such other Party’s obligations under this Agreement; (iii) from a
clinical hold or a failure to obtain a necessary Regulatory Approval or other necessary license from a Governmental Authority, despite such Party’s diligent efforts to obtain such Regulatory Approval or license; or (iv) from a failure of
such Party’s subcontractor to perform its obligations, despite such Party’s oversight and management of such subcontractor in accordance with best practices in the biopharmaceutical industry. In addition, each Party shall be excused from
its obligations under this Section 4.3(b) as and to the extent provided in Section 13.3; and provided further that Jazz’s obligations under this Section 4.3(b) shall not exceed its obligations under Section 4.3(a). Each
Party shall conduct its activities under the Development Plan in a good scientific manner and in compliance in all material respects with all applicable Laws, including applicable national and international guidelines such as ICH, GCP, GLP and GMP.

  
 18.

 4.4 Successful Completion. 

(a) Criteria. In a timely manner prior to the anticipated Initiation of each of the first Phase 1 Clinical Trial and the first
Phase 2 PoC Clinical Trial, the JSC shall establish the criteria for Successful Completion of each such clinical trial and shall amend the Development Plan to include such criteria. Such criteria shall be established by considering, for the
applicable stage of Development, what criteria are reasonably necessary to advance the Licensed Product to the next stage of Development. 
 (b) Evaluation. Promptly after the availability of top-line data following completion of all subject visits in the first Phase 1 Clinical Trial or the first Phase 2 PoC Clinical Trial, the Party
conducting such trial shall provide such top-line data to the JSC. Promptly after the availability of tabulated data for such trial, and in any event within [**] days after database lock for such trial, the Party conducting such trial shall provide
such tabulated data to the JSC. Within [**] days after receipt of such tabulated data, the JSC shall convene an ad hoc meeting to evaluate such data, share any analyses of such data prepared during such [**]-day period, determine whether the
criteria for Successful Completion have been satisfied, and decide whether or not to continue Development of the Licensed Product. Following the ad hoc JSC meeting to evaluate such data, if Successful Completion has occurred, the applicable
milestone payment under Section 6.3 will be payable in accordance with the terms of Section 6.3. 
 4.5 Development
Costs. Jazz shall reimburse Concert for the Development activities conducted by Concert under the Development Plan according to the terms of Section 6.2. Jazz shall be solely responsible for its own costs and expenses incurred in conducting
its activities under the Development Plan. 
 4.6 Transfer of Licensed Know-How. Promptly after the Effective
Date, Concert shall provide Jazz with complete and accurate copies of all material Licensed Know-How in existence as of the Effective Date. Upon Jazz’s reasonable request [**] and [**], and [**], Concert shall promptly provide Jazz with
complete and accurate copies of all material Licensed Know-How and all Development Data generated since the last such transfer under this Section 4.6; [**] and [**]. 

4.7 Records and Reports; Development Data. Each Party shall maintain complete, current and accurate records of all Development
activities conducted by it hereunder, and all data and other Information resulting from such activities. Such records shall fully and properly reflect all work done and results achieved in the performance of the Development activities in good
scientific manner appropriate for regulatory and patent purposes. Each Party shall document all non-clinical studies and clinical trials conducted as part of the Development Program in formal written study records, and shall document all
manufacturing activities for Licensed Products, in each case in accordance with applicable Laws, including applicable national and international guidelines such as ICH, GCP, GLP and GMP. Each Party shall provide the JSC with written reports
detailing its Development activities under the Development Plan and the results of such activities at each regularly scheduled JSC meeting (or, if the JSC has been disbanded, each Party shall provide such reports to the other Party within [**] days
after the end of [**] prior to completion of the first Phase 2 PoC Clinical Trial of a Licensed Product and [**] thereafter). The Parties shall discuss the status, progress and results of the Parties’ Development activities under

  
 19.

 
the Development Plan at such JSC meetings. Jazz shall solely own all data, records and reports generated by or on behalf of Concert (solely or jointly with Jazz) in the conduct of Development
activities under this Agreement (the “Development Data”), and Concert hereby assigns, and shall assign, to Jazz, all of its right, title and interest in and to the Development Data. Concert shall have the right to use and disclose
the Development Data in accordance with the last sentence of Section 7.1. Concert shall provide Jazz with copies of all Development Data as provided in Section 4.6 above, or more frequently as reasonably requested by Jazz. Jazz shall have
the right to obtain access to the originals of such Development Data to the extent necessary or useful for regulatory and patent purposes. 
 4.8 Technology Transfer. The Parties’ responsibilities for manufacturing Licensed Products for use in Development shall be as set forth in the Development Plan. At Jazz’s request, Concert
shall transfer to Jazz or a Third Party manufacturer designated by Jazz all Licensed Know-How, and any contracts between Concert and a Third Party manufacturer of any Licensed Product (on Jazz’s request and to the extent assignable and solely
related to a Licensed Product), as of the date of transfer that are necessary or reasonably useful for Jazz or such Third Party manufacturer (as appropriate) to replicate the process employed by or on behalf of Concert as of such date to manufacture
Licensed Products, including all such Information related to processes and formulations of Licensed Products developed or used under the Development Plan. If any such contract is not solely related to a Licensed Product or is otherwise not
assignable to Jazz, then Concert shall use reasonable efforts to cause the applicable Third Party manufacturer to enter into an agreement with Jazz for such manufacture on substantially the same terms, with respect to Licensed Products, as
Concert’s agreement with such Third Party manufacturer. Concert shall use commercially reasonable efforts when negotiating any manufacturing agreements for Licensed Products to include a right to assign such agreement to Jazz. Prior to the
commencement of any such technology transfer, the JSC shall prepare a technology transfer plan and budget, specifying the scope of the transfer, internal personnel time allocated by Concert and reasonable out-of-pocket costs to be incurred by
Concert. The reasonable costs and expenses incurred by Concert, including any internal personnel costs, in carrying out such transfer in accordance with the budget established by the JSC shall be reimbursed by Jazz in accordance with
Section 6.2. In addition, Concert shall make available to Jazz, on a reasonable consultation basis, advice of its technical personnel as may reasonably be requested by Jazz in connection with such transfer of Licensed Know-How or otherwise in
connection with the Development of Licensed Products. Jazz agrees to reimburse Concert for the reasonable charges for the time and expenses of such personnel when consulting for Jazz. 

4.9 Regulatory Responsibilities. 
 (a) The Parties intend that the Development Plan will set forth the regulatory strategy for seeking Regulatory Approvals and Pricing Approvals for Licensed Products in the Field in the Territory,
as well as the Parties’ responsibilities for preparing Regulatory Materials for Licensed Products in the Field in the Territory. 
 (b) If Concert conducts any human clinical trial of a Licensed Product under the Development Plan, all regulatory activities with respect to such trial shall be subject to this Section 4.9(b).
Concert shall be responsible for preparing and shall own all Regulatory Materials (including all INDs) for such Licensed Product that are submitted or received in connection with 

  
 20.

 
such clinical trial; provided that all data therein shall be considered Development Data and owned by Jazz in accordance with Section 4.7. Concert shall promptly (and in any event within
[**] Business Days) provide Jazz with a copy of all Regulatory Materials it receives or submits for Licensed Products, shall consult with Jazz in the preparation of all Regulatory Materials for Licensed Products, including providing drafts
sufficiently in advance of submission for Jazz to review and comment thereon and considering all such comments in good faith, and shall obtain Jazz’s approval, not to be unreasonably withheld, conditioned or delayed, of all Regulatory Materials
prior to submission thereof. Concert shall obtain Jazz’s consent, not to be unreasonably withheld, conditioned or delayed, prior to requesting a meeting with any Regulatory Authority with respect to a Licensed Product and shall provide Jazz
with reasonable advance notice of any scheduled meeting with any Regulatory Authority with respect to a Licensed Product, and Jazz shall have the right to participate in any such meeting to the extent permitted by applicable Laws. 

(c) As soon as practicable after completion of the last human clinical trial of a Licensed Product conducted by Concert as
contemplated in the Development Plan, Concert shall transfer and assign to Jazz ownership and possession of all Regulatory Materials for Licensed Products in the Field in the Territory. The Parties shall execute such documents and take such actions
as are reasonably necessary to effectuate the foregoing transfer and assignment of such Regulatory Materials. Following such transfer, Jazz shall own all Regulatory Materials (including all INDs, NDAs, MAAs and Regulatory Approvals) for each
Licensed Product in the Field in the Territory. 
 (d) Following the transfer of Regulatory Materials for Licensed
Products under Section 4.9(c), Concert shall not (i) submit any Regulatory Materials for Licensed Products in the Field in the Territory or (ii) communicate with respect to the Licensed Products in the Field in the Territory with any
Regulatory Authority, except in each case (i) and (ii) as expressly set forth in the Development Plan, requested by Jazz in writing or required to comply with applicable Laws, in which latter case Concert shall promptly notify Jazz of such
requirement under applicable Laws and, to the extent practicable and permitted under applicable Laws, shall submit any proposed submission or communication to Jazz for prior approval or, if not practicable or permitted, shall provide Jazz with a
copy or summary thereof as soon as reasonably practicable thereafter. 
 (e) Jazz shall keep the JSC (or Concert, after
the JSC is disbanded) reasonably informed regarding Jazz’s (or its Affiliate’s or Sublicensee’s) regulatory activities with respect to Licensed Products pursuant to Section 4.7. 

4.10 Subcontracts. Concert may perform its Development Program obligations under this Agreement through one or more subcontractors
or consultants whose contract with Concert is approved by Jazz in writing in advance (which approval Jazz may not unreasonably withhold or delay), provided that in any event: (a) Concert shall remain responsible for the work allocated to, and
payment to, such subcontractors and consultants as it selects to the same extent it would if it had done such work itself; (b) the subcontractor shall undertake in writing obligations of confidentiality and non-use regarding Confidential
Information that are substantially the same as those undertaken by the Parties pursuant to Article 10 hereof; and (c) the subcontractor shall agree in writing to assign all intellectual property developed in the course of performing any such
subcontracted work to Concert, unless otherwise approved by Jazz in connection with its approval of the contract with such subcontractor. Jazz shall timely cooperate with Concert in reviewing and approving or providing revisions to each contract
provided by Concert for approval under this Section 4.10. 

  
 21.

 4.11 Regulatory or Third Party Action or Inspection. Concert shall immediately notify
Jazz as soon as Concert becomes aware of any Regulatory Authority inspections relating to any Licensed Product or activities under the Development Plan. Jazz shall have the right to be present at any such inspections and shall have the opportunity
to provide, review and comment on any responses that may be required in accordance with Section 4.9. In the event Concert does not receive prior notice of any such inspection, Concert shall notify Jazz as soon as practicable after such
inspection and shall provide Jazz with copies of all materials, correspondence, statements, forms and records received or generated pursuant to any such inspection. In addition to such obligations with respect to Regulatory Authority inspections,
Concert shall promptly notify Jazz of any Information it receives regarding any threatened or pending action or communication by or from any Third Party, including a Regulatory Authority, that may materially affect the Development, manufacturing,
Commercialization or regulatory status of a Licensed Product in the Field in the Territory. 
 4.12 Audits. At any
time during Concert’s conduct of activities under the Development Plan, during normal business hours and upon reasonable prior notice, Jazz may send a reasonable number of qualified representatives of Jazz or its Affiliates to inspect or audit
the facilities in which Concert or its Affiliates or, to the extent that Concert has the right to permit such access, subcontractors are conducting such activities in order to ensure compliance with applicable Laws; provided that Concert shall use
commercially reasonable efforts to include in each agreement with a subcontractor the right for Jazz to inspect or audit the applicable facilities at a customary frequency. Concert and its Affiliates shall reasonably cooperate with and use
reasonable efforts to cause any of its subcontractors to facilitate and cooperate with any such inspection or audit. Jazz shall review with Concert the results of any such audit or inspection. 

ARTICLE 5  

COMMERCIALIZATION 
 5.1 Commercialization Responsibilities. Jazz will have the exclusive right to conduct, and be solely responsible, to the extent required by Section 5.2, for all aspects of, the
Commercialization of Licensed Products in the Field in the Territory, including: (a) developing and executing a commercial launch and pre-launch plan; (b) negotiating with applicable Governmental Authorities regarding the price and
reimbursement status of Licensed Products; (c) marketing and promotion; (d) booking sales and distribution and performance of related services; (e) handling all aspects of order processing, invoicing and collection, inventory and
receivables; (f) providing customer support, including handling medical queries, and performing other related functions; (g) conforming its practices and procedures to applicable Laws relating to the marketing, detailing and promotion of
Licensed Products in the Territory; and (h) manufacturing of Licensed Products for commercial use. As between the Parties, Jazz shall bear all of its costs and expenses incurred in connection with such Commercialization activities.

 5.2 Commercial Diligence. Jazz shall use [**] to Commercialize in the Field any Licensed Product for which it has
obtained Regulatory Approval and, if necessary for commercial sale, Pricing Approval. 

  
 22.

 5.3 Commercialization Reports. On [**] basis no later than [**] days after the [**],
Jazz shall provide Concert with a summary of Jazz’s significant Commercialization activities with respect to each Licensed Product in the Territory since the last such report. 

ARTICLE 6  

COMPENSATION 
 6.1 Upfront Payment. Within [**] Business Days after the Effective Date, Jazz shall pay to Concert a one-time, non-refundable, non-creditable upfront payment of four million Dollars
($4,000,000). 
 6.2 Concert Development and Manufacturing Activities. Jazz shall fund (a) (i) all
internal FTE costs (at the FTE Rate) and FTE-Related Costs, without markup, as incurred by Concert to conduct its activities under the Development Program in accordance with the Development Plan, to the extent that they do not exceed the budgeted
amount (including the number of FTEs allocated) set forth in the Development Budget, as may be amended pursuant to Sections 4.2(b) and (c), for such activities by more than [**] percent ([**]%), and [**] of any such amounts in excess of [**] percent
([**]%) of the budgeted amount therefor and (ii) all other amounts reasonably paid by Concert to Third Parties, without markup, to conduct its activities under the Development Program in accordance with the Development Plan, to the extent that
they do not exceed, by more than [**] percent ([**]%), the budgeted amount for such activities set forth in the Development Budget, as may be amended pursuant to Sections 4.2(b) and (c), and (b) all internal FTE costs (at the FTE Rate) and
FTE-Related Costs and all amounts reasonably paid by Concert to Third Parties, without markup, in each case as incurred by Concert to conduct technology transfer activities under Section 4.8, to the extent that they do not exceed the budgeted
amount (including the number of personnel allocated) set forth in the budget established by the JSC for such technology transfer. At least [**] days before the end of each [**] during the conduct of the Development Program, Concert shall provide
Jazz with an estimate of all internal costs (at the FTE Rate) and all FTE-Related Costs Concert has incurred or expects to incur in such [**], and all amounts Concert has paid or expects to pay to Third Parties in such [**], without markup, to
conduct the activities allocated to Concert under the Development Plan in accordance therewith or under Section 4.8 in accordance with the applicable budget. Within [**] days after the end of each month in which Concert incurs costs for which
Jazz is required to pay Concert under this Section 6.2, Concert shall provide Jazz with an invoice and reasonable supporting documentation for such costs. Jazz shall pay each such invoice within [**] days after receipt thereof, except to the
extent disputed by Jazz in good faith (in which case, Jazz shall pay any amount determined to be payable within [**] days after the resolution of such dispute); provided that Jazz shall not be required to pay any invoiced amounts for a particular
activity that exceed the amounts Jazz is responsible for as set forth above in this Section 6.2. Jazz shall notify Concert if it disputes any portion of any such invoice prior to the due date for payment. 

6.3 Development Milestone Payments. Jazz shall notify Concert within [**] days after the first achievement by Jazz or its
Affiliates or Sublicensees of the following development milestone events. Thereafter, Concert shall invoice Jazz for the corresponding milestone payment for each achieved milestone event, and Jazz shall pay each such invoice within [**] days after
receipt thereof. 

  
 23.

			
	 Development Milestone Event
	  	 Milestone Payment

	 (i) Earlier of (a) the first Successful Completion of a Phase 1 Clinical Trial, following the ad hoc JSC meeting pursuant to
Section 4.4(b) to evaluate the tabulated data from such trial or (b) Initiation of the first Phase 2 PoC Clinical Trial
	  	Four million Dollars ($4,000,000)
	 [**]
	  	[**]
	 [**]
	  	[**]
		
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
		  	  

	 Total
	  	 Either
  

•        Fifty million five hundred thousand Dollars
($50,500,000) (if milestone (iv) above is achieved on or before [**])
  
 or
  
 •        Forty-three million Dollars ($43,000,000) (if milestone (iv) above is achieved on or after [**])

 Each milestone payment is payable one time only, regardless of the number of times the corresponding
event is achieved by a Licensed Product and regardless of the number of Licensed Products to achieve such event. Under no circumstances shall Jazz be obligated to pay Concert more than fifty million five hundred thousand Dollars ($50,500,000)
pursuant to this Section 6.3. If a milestone event set forth in (ii) through (v) of the table above is achieved prior to the achievement of an earlier milestone set forth in (i) through (iv) of the table above, or if a
milestone event set forth in (vi) and (vii) of the table above is achieved prior to the achievement of an earlier milestone set forth in (i), (ii) or (vi) of the table above, then payment for such earlier unachieved milestone
payment shall be due and payable simultaneously with the payment of the later milestone event. 

  
 24.

 6.4 Sales Milestones. Jazz shall make the non-refundable, non-creditable payments to
Concert set forth in the table below upon the first achievement of each of the corresponding sales milestone events. Jazz shall make the sales milestone payments required by this Section 6.4 in accordance with Section 6.5(e) concurrently
with Jazz’s payment of royalties for the calendar quarter in the calendar year in which such sales milestone events are first achieved. For clarity, the milestone payments in this Section 6.4 shall be additive such that if both milestones
below are met in the same calendar year, Jazz shall pay both applicable payments to Concert for that calendar year. Each such sales milestone payment shall be payable one time only. 

 

			
	 Sales Milestone Event
	  	 Milestone Payment

	 The aggregate Net Sales of Licensed Products in the Territory in a calendar year exceed [**] Dollars ($[**])
	  	[**] Dollars ($[**])
	 The aggregate Net Sales of Licensed Products in the Territory in a calendar year exceed [**] Dollars ($[**])
	  	[**] Dollars ($[**])
		  	  

	 Total
	  	Seventy million Dollars ($70,000,000)
		  	  

 Under no circumstances shall Jazz be obligated to pay Concert more than seventy million Dollars ($70,000,000) pursuant to
this Section 6.4. 
 6.5 Royalties. 
 (a) Royalty Rates. Subject to Sections 6.5(b)-(d) and 6.6(b)(ii), Jazz shall pay to Concert royalties on aggregate annual Net Sales of all Licensed Products in the Field in the Territory
during the applicable Royalty Term, as calculated by multiplying the applicable royalty rate by the corresponding amount of incremental Net Sales of all Licensed Products in the Field in the Territory in each calendar year. 

 

							
	 Royalty Tier
	  	 Annual Net Sales of Licensed Products in the
Territory
	  	Royalty Rate	 
	 1
	  	 For that portion of annual aggregate Net Sales of Licensed Products less than or equal to [**] Dollars ($[**])
	  	 	[**	]% 
	 2
	  	 For that portion of annual aggregate Net Sales of Licensed Products greater than [**] Dollars ($[**]) and less than or equal
to [**] Dollars ($[**])
	  	 	[**	]% 
	 3
	  	 For that portion of annual aggregate Net Sales of Licensed Products greater than [**] Dollars ($[**])
	  	 	[**	]% 

 For example, if aggregate annual Net Sales of all Licensed Products in the Field in the Territory is $[**] in a
particular calendar year, then royalties payable by Jazz equal [**]. 

  
 25.

 (b) Royalty Term. Royalties shall be paid under this Section 6.5, on a
country-by-country and Licensed Product-by-Licensed Product basis, on Net Sales during the period of time beginning on the First Commercial Sale of such Licensed Product in such country and continuing until the later of: (i) the expiration or
abandonment of the last-to-expire Valid Claim in such country Covering such Licensed Product (a “Covering Claim” in such country for such Licensed Product); and (ii) ten (10) years after the First Commercial Sale of such
Licensed Product in such country (the “Royalty Term”). 
 (c) [**]. 

(i) Subject to Sections [**], and [**], Jazz [**] Concert [**] set forth in Section [**]. Thereafter, subject to Sections [**];
provided that, subject to Section [**] Jazz [**]. By way of example, [**] and Section [**], then [**]. 
 (ii) [**]
pursuant to Section [**] pursuant to Section [**] pursuant to Section [**] set forth in Section [**] as provided in Section [**] Section [**]. 
 (d) Generic Reduction. 
 (i) If, in any country in the
Territory during the Royalty Term for a Licensed Product, unit sales of all Generic Products with respect to such Licensed Product in such country in a calendar quarter exceed [**] percent ([**]%) of the sum of unit sales of such Licensed Product
plus unit sales of all such Generic Products in such country, then the royalty rate for such Licensed Product in such country shall be reduced to [**] percent ([**]%) of the royalty rates (in each tier) that would otherwise have been applicable
under Section 6.5(a) or 6.5(c)(i) for Net Sales of such Licensed Product in such country. 
 (ii) If, in any
country in the Territory during the Royalty Term for a Licensed Product, unit sales of all Generic Products with respect to such Licensed Product in such country in a calendar quarter exceed [**] percent ([**]%) of the sum of unit sales of such
Licensed Product plus unit sales of all such Generic Products in such country, then no royalties shall be due for Net Sales of such Licensed Product in such country during such calendar quarter and such Net Sales shall not be included when
calculating the royalty tier thresholds in Section 6.5(a). 
 (iii) All such determinations of unit sales under this
Section 6.5(d) shall be based upon a mutually acceptable calculation method using market share data provided by a reputable and mutually agreed upon provider, such as IMS Health. 

(e) Royalty Reports and Payments. 
 (i) Within [**] days after the end of each of the first three calendar quarters of any calendar year, and within [**] days after the fourth calendar quarter of any calendar year, in each case for
calendar quarters during the Royalty Term, Jazz shall deliver to Concert a statement, on a country-by-country and Licensed Product-by-Licensed Product basis, of the amount of gross sales and Net Sales of Licensed Products during the applicable
calendar quarter, a calculation of the amount of royalty payment due on such sales for such calendar quarter, any applicable royalty offsets under Section 6.6(b)(ii), and a revised calculation of the payment due after the application of such
offsets. Concurrently with each such report, Jazz shall pay to Concert all royalty payment and sales milestones payable by it under Sections 6.4 and 6.5. 

  
 26.

 (ii) The royalty report [**] in Section [**] but not subject to Section [**] and
[**] shall also [**] and [**]. 
 6.6 Third Party Payments. 

(a) Concert Obligations. Except to the extent reimbursed by Jazz pursuant to Section 6.2, Concert will be solely responsible
for paying all amounts owed to Third Parties after the Effective Date pursuant to agreements between Concert and Third Parties with respect to Licensed Products. 
 (b) Licenses to Jazz. 
 (i) If either Party believes, in its
reasonable discretion, that it is necessary for Jazz or its Affiliate or Sublicensee to obtain a license from a Third Party under such Third Party’s Patent(s) in order to manufacture, use, or sell a Licensed Product in the Field in the
Territory during the Term, such Party shall notify the other Party. If such license is reasonably necessary, Jazz will be responsible for obtaining such license and Concert shall not interfere with Jazz’s efforts to obtain such license. Jazz
shall keep Concert reasonably informed of all material developments in its negotiations with such Third Party and shall consider any reasonable comments of Concert in connection therewith in good faith. In negotiating the economic terms of such
license, Jazz will not take into account its right pursuant to Section 6.6(b)(ii) to deduct amounts paid to such Third Party from royalties payable to Concert under this Agreement. 

(ii) Jazz may deduct from any royalty payments to Concert under Section 6.5 with respect to any Licensed Product in any
country any payments made by Jazz or its Affiliates or Sublicensees for any rights to Third Party Patents that are reasonably necessary to manufacture, use or sell Licensed Products in the Field in the Territory; provided, that under no
circumstances will the royalties payable to Concert under Section 6.5(a) with respect to such Licensed Product in such country in any calendar quarter be reduced, as a result of this Section 6.6(b)(ii), below [**] percent ([**]%) of the
royalties otherwise payable under Section 6.5. Jazz may carry forward to subsequent calendar quarters any deductions that it was not able to deduct as a result of the foregoing proviso. 

6.7 Foreign Exchange. The rate of exchange to be used in computing the amount of currency equivalent in Dollars of Net Sales
invoiced in other currencies shall be the rate used by Jazz in its financial reporting in accordance with GAAP or International Financial Reporting Standards, as applicable. 

6.8 Manner and Place of Payment. All payments owed by Jazz under this Agreement shall be made by wire transfer in immediately
available funds to a bank and account designated in writing by Concert. 
 6.9 Records; Audits. Jazz and its
Affiliates and Sublicensees will maintain complete and accurate records in reasonably sufficient detail to permit Concert to confirm the accuracy of the calculation of royalty payments and the achievement of sales milestone events. Concert and
its 

  
 27.

 
Affiliates will maintain complete and accurate records in reasonably sufficient detail to permit Jazz to confirm the accuracy of the calculation of FTEs, FTE-Related Costs and Third
Party payments for Development or technology transfer payments made by Jazz under Section 6.2. Upon reasonable prior notice, such records shall be available during regular business hours for a period of [**] years from the end of the calendar
year to which they pertain for examination, not more often than [**], by an independent certified public accountant selected by the auditing Party and reasonably acceptable to the audited Party, for the sole purpose of verifying the accuracy of the
financial reports furnished by the other Party pursuant to this Agreement. Any such auditor shall enter into a confidentiality agreement with the audited Party and shall not disclose the audited Party’s Confidential Information, except to the
extent such disclosure is necessary to verify the accuracy of the financial reports furnished by the audited Party or the amount of payments due by one Party to the other Party under this Agreement. Any amounts shown to be owed but unpaid shall be
paid, and any amounts showed to be overpaid will be refunded, within [**] days from the accountant’s report. The auditing Party shall bear the full cost of such audit unless such audit discloses an underpayment or overcharge by the audited
Party of more than [**] percent ([**]%) of the amount due in the audited period, in which case the audited Party shall bear the full cost of such audit. 
 6.10 Taxes. 
 (a) Taxes on Income. Each Party shall be solely
responsible for the payment of all taxes imposed on its share of income arising directly or indirectly from the efforts of the Parties under this Agreement. 
 (b) Tax Cooperation. The Parties agree to cooperate with one another and use reasonable efforts to reduce or eliminate tax withholding or similar obligations in respect of royalties, milestone
payments, and other payments made by Jazz to Concert under this Agreement. To the extent Jazz is required to deduct and withhold taxes on any payment to Concert, Jazz shall pay the amounts of such taxes to the proper Governmental Authority in a
timely manner and promptly transmit to Concert an official tax certificate or other evidence of such withholding sufficient to enable Concert to claim such payment of taxes. Concert shall provide Jazz any tax forms that may be reasonably necessary
in order for Jazz not to withhold tax or to withhold tax at a reduced rate under an applicable bilateral income tax treaty. Each Party shall provide the other with reasonable assistance to enable the recovery, as permitted by applicable Laws, of
withholding taxes, value added taxes, or similar obligations resulting from payments made under this Agreement, such recovery to be for the benefit of the Party bearing such withholding tax or value added tax. 

(c) Withholding Required. Notwithstanding the foregoing, if (i) Jazz (A) assigns its rights and obligations hereunder to
an Affiliate or Third Party outside the United States or Ireland, or (B) exercises its rights under this Agreement through an Affiliate or Third Party outside the United States or Ireland, and (ii) in either case, solely by reason of such
act by Jazz, Treaty Benefits (as defined below) that would have been available become unavailable with respect to any payment required to be made by Jazz to Concert pursuant to this Agreement, then each such payment shall be increased so that
Concert receives the same net amount (after satisfaction of any withholding tax obligation on such payment, as so increased) it would have received if Treaty Benefits had been available with respect to such payment. Concert shall use

  
 28.

 
commercially reasonable efforts to obtain available tax reductions, credits or refunds in respect of such payments. If Concert receives a refund or claims a tax credit with respect to any taxable
year and relating to any amounts paid to it pursuant to this Section, then Concert shall pay Jazz an amount equal to such refund or equal to the actual reduction of Concert’s otherwise payable taxes for such year that results from such credit
(but only to the extent of amounts received by Concert pursuant to this Section with respect to the taxes giving rise to such refund or credit) provided however that the determination of amounts payable by Concert shall be determined in good faith
and in Concert’s sole discretion. Payments by Concert hereunder, if any, shall be paid promptly following the receipt of a refund or following the filing of the tax return on which a credit is claimed. If, with respect to the payments
contemplated by this Section, any taxing authority disallows all or a portion of the applicable claimed credit or requires a return of all or any portion of the applicable refund (an “Adjustment”), then Jazz shall pay Concert an amount
equal to the Adjustment. For the purposes of this Section 6.10(c), “Treaty Benefits” means an exemption from withholding tax equivalent to the exemption provided under the United States income tax treaty with Ireland. 

ARTICLE 7  

INTELLECTUAL PROPERTY MATTERS 
 7.1 Ownership of Inventions. Ownership of Information and inventions, whether or not patentable, made in the course of Concert’s performance (including through Affiliates and subcontractors)
of activities under the Development Plan, including all intellectual property rights therein (collectively, “Development Inventions”) shall be as follows: (a) Jazz shall own all Development Inventions, whether made solely by
employees, agents, or independent contractors of Concert or its Affiliates, or jointly by employees, agents or independent contractors of each Party or its Affiliates, that [**]. All Patents claiming patentable, jointly owned Joint Inventions shall
be referred to herein as “Joint Patents”. Except to the extent either Party is restricted by the licenses granted to the other Party under this Agreement, each Party shall be entitled to practice, grant licenses to, assign and
exploit the Joint Inventions and Joint Patents without the duty of accounting or seeking consent from the other Party. Concert hereby assigns to Jazz all of its and its Affiliates’ right, title and interest in and to the Jazz Development
Inventions, and agrees to take such further actions reasonably requested by Jazz to evidence such assignment. Notwithstanding the foregoing, Jazz shall solely own all Development Data as provided in Section 4.7; provided that, notwithstanding
Jazz’s ownership of Development Data, Concert shall have the right to use and disclose Development Data as reasonably necessary to file applications for and prosecute and maintain Licensed Patents in accordance with Section 7.4(b),
provided that, prior to such use or disclosure of Development Data that has not already been made publicly available by Jazz, Concert presents such proposed use or disclosure and the reasons therefor to the JPC and Jazz’s representative to the
JPC approves such proposed use or disclosure, such approval not to be unreasonably withheld or delayed. 
 7.2
Inventorship Procedure. The JPC shall, within a reasonable time after the Effective Date, establish and oversee a mutually agreeable procedure for (a) identifying Development Inventions, (b) determining inventorship of Development
Inventions and (c) determining whether each such Development Invention is a Jazz Development Invention. Inventorship shall be determined in accordance with U.S. patent laws. All such determinations shall be documented to ensure that any
divisional or continuation patent applications reflect appropriate inventorship and that Development Inventions and Development Patents are assigned to the appropriate assignee. 

  
 29.

 7.3 Disclosure of Inventions. Concert shall promptly disclose to Jazz all Development
Inventions, including any invention disclosures or similar documents submitted to it by its employees, agents or independent contractors describing Development Inventions, and all Information relating to such Development Inventions to the extent
necessary or useful for the preparation, filing and maintenance of any Patent with respect to such Development Invention. 
 7.4 Prosecution of Patents. 
 (a) General Standards. 

(i) In conducting any prosecution of Licensed Patents or Development Patents claiming Jazz Development Inventions under this
Section 7.4, Jazz and its Affiliates shall not disparage any Licensed Patents in connection with its communications with any patent office or other Governmental Authority, it being understood that distinguishing over Licensed Patents that are
prior art shall not in and of itself be considered disparaging. The foregoing sentence shall not apply with respect to (A) any Licensed Patent that Concert first asserts in an action or proceeding against Jazz or its Affiliates or (B) with
respect to any disparagement made, by a Third Party that subsequently acquires or is acquired by Jazz or its Affiliates, prior to such acquisition. 
 (ii) In conducting any prosecution of Licensed Patents or Development Patents claiming Jazz Development Inventions under this Section 7.4, Concert and its Affiliates shall not disparage any
Patents owned or controlled by Jazz that claim, disclose or otherwise relate to Jazz Compounds, in connection with its communications with any patent office or other Governmental Authority, it being understood that distinguishing over Patents that
are prior art shall not in and of itself be considered disparaging. The foregoing sentence shall not apply with respect to (A) any Patent owned or controlled by Jazz, that Jazz first asserts in an action or proceeding against Concert or any of
its Affiliates or (B) with respect to any disparagement made, by a Third Party that subsequently acquires or is acquired by Concert or its Affiliates, prior to such acquisition. 

(b) Licensed Patents. 
 (i) Decisions regarding the preparation, filing, prosecution (including oppositions, reexaminations, reissues, interferences, nullity actions, invalidation actions and post-grant reviews) and
maintenance of the Licensed Patents will be made by the JPC and implemented by patent counsel selected by Concert and reasonably acceptable to Jazz or, in the case of oppositions, reexaminations, reissues, interferences, nullity actions,
invalidation actions and post-grant reviews, by patent counsel selected by Jazz and reasonably acceptable to Concert; provided that (x) if the JPC is disbanded in accordance with Section 3.3(a) or (c), such decisions shall be made by the
Parties or, if the Parties fail to agree within the time period set forth in Section 3.2(d), by a Third Party expert in accordance with Section 3.2(d); (y) if the JPC is disbanded in accordance with Section 3.3(b), such decisions
shall be made as provided in Section 3.3 with respect to such a disbandment of the JPC; and (z) if the JPC is disbanded in accordance with Section 13.7, such decisions shall be made as provided in Section 13.7. The Parties will
require 

  
 30.

 
such patent counsel to: (A) provide the JPC with a copy of each patent application within the Licensed Patents as filed, together with its filing date and serial number, (B) keep the
JPC advised of the status of all communications, actual and prospective filings and submissions regarding the Licensed Patents, (C) give the JPC an opportunity to review and comment on any such communications, filings and submissions proposed
to be sent to any patent office and (D) file, prosecute and maintain each Licensed Patent in each Patent Country and in each other country requested by Jazz writing, in each case in accordance with the JPC’s instructions. 

(ii) The Parties shall share equally the reasonable, documented, out-of-pocket expenses incurred by the Parties in conducting the
Patent Activities for Licensed Patents in the Patent Countries. Jazz shall be solely responsible for the reasonable, documented, out-of-pocket expenses incurred by the Parties in conducting Patent Activities for Licensed Patents in each other
country requested by Jazz in writing. 
 (iii) No later than [**] days before the end of each calendar quarter, Concert
shall provide Jazz with an estimate of all out-of-pocket expenses Concert has incurred to date during such calendar quarter and expects to incur during the remainder of such calendar quarter for Patent Activities for which Jazz is solely responsible
pursuant to Section 7.4(b)(ii), if Concert has incurred or expects to incur any such expenses. Within [**] days after the end of each calendar quarter, if applicable, Concert shall provide Jazz with an invoice for the portion of out-of-pocket
expenses incurred by Concert for Patent Activities during such calendar quarter for which Jazz is solely responsible pursuant to Section 7.4(b)(ii), along with reasonable documentation therefor. Jazz shall pay such invoice within [**] days
after receipt, except to the extent disputed by Jazz in good faith (in which case, Jazz shall pay any amount determined to be payable within [**] days after the resolution of such dispute); provided that Jazz may not dispute the amounts of any Third
Party invoice to the extent that such invoice is for activities that Jazz agrees are subject to Section 7.4(b)(ii). Jazz shall notify Concert if it disputes any portion of any such invoice prior to the due date for payment. 

(iv) No later than [**] days before the end of each calendar quarter, Concert shall provide Jazz with an estimate of all
out-of-pocket expenses Concert has incurred to date during such calendar quarter and expects to incur during the remainder of such calendar quarter for Patent Activities for which the Parties share expenses pursuant to Section 7.4(b)(ii), if
Concert has incurred or expects to incur any such expenses. Within [**] days after the end of each calendar quarter, if applicable, Concert shall provide Jazz with a statement setting forth all reasonable out-of-pocket expenses incurred by Concert
with respect to Patent Activities during such calendar quarter for which the Parties share expenses pursuant to Section 7.4(b)(ii), along with reasonable documentation therefor. Within [**] days after receipt thereof, Jazz shall prepare and
provide to Concert a statement setting forth all reasonable out-of-pocket expenses incurred by Jazz during such calendar quarter with respect to Patent Activities for which the Parties share expenses pursuant to Section 7.4(b)(ii) and the
difference between such expenses and the expenses reported by Concert in its statement submitted pursuant to this Section 7.4(b)(iv), to the extent not disputed by Jazz in good faith (in which case, Jazz shall pay any amount determined to be
payable within [**] days after the resolution of such dispute); provided that Jazz may not dispute the amounts of any Third Party invoice to the extent that such invoice is for activities that Jazz agrees are subject to Section 7.4(b)(ii). Such
statement shall be accompanied by reasonable documentation for Jazz’s expenses included in such statement, and either (A) an invoice for one 

  
 31.

 
half of such difference, if the amount incurred by Jazz exceeds the amount incurred by Concert or (B) payment for one half of such difference, if the amount incurred by Concert exceeds the
amount incurred by Jazz. Concert shall pay each such invoice under clause (A) within [**] days after receipt thereof, except to the extent disputed by Concert in good faith (in which case, Concert shall pay any amount determined to be payable
within [**] days after the resolution of such dispute); provided that Concert may not dispute the amounts of any Third Party invoice to the extent that such invoice is for activities that Concert agrees are subject to Section 7.4(b)(ii). Each
Party shall notify the other Party if it disputes any portion of the other Party’s statement within [**] days after receipt thereof. 
 (v) If Jazz decides that it is no longer interested in paying for the prosecution or maintenance of any Licensed Patent, it shall notify Concert in writing. Thereafter, Concert shall have the right
to prosecute and/or maintain such Patent, at its sole expense, and such Patent shall cease to be a Licensed Patent. 
 (c)
Jazz Development Patents. Jazz shall have the sole right to prepare, file, prosecute and maintain Development Patents that claim Jazz Development Inventions, at Jazz’s sole cost and expense. 

(d) Cooperation. Each Party shall provide the other Party all reasonable assistance and cooperation, at the other Party’s
request and expense, in the Patent Activities provided above in this Section 7.4, including providing any necessary powers of attorney, executing any other required documents or instruments for such prosecution, and making its personnel with
appropriate scientific expertise available to assist in such efforts; provided that any out-of-pocket expenses incurred in connection with such assistance and cooperation with respect to Licensed Patents under the direction of the JPC shall be
shared in accordance with Section 7.4(b). 
 7.5 Enforcement of Licensed Patents. 

(a) Notification. If either Party becomes aware of (i) any existing or threatened infringement of the Licensed Patents in the
Field in the Territory, which infringing activity involves (A) the using, making, importing, exporting, offering for sale or selling Licensed Products, or (B) the filing of an ANDA under Section 505(j) of the FD&C Act or an
application under Section 505(b)(2) of the FD&C Act naming a Licensed Product as a reference listed drug and including a certification under Section 505(j)(2)(A)(vii)(IV) or 505(b)(2)(A)(iv), respectively, or (ii) a declaratory
judgment action against any Licensed Patent in the Territory in connection with any infringement described in clause (i) (each of (i) and (ii), a “Product Infringement”), it shall promptly notify the other Party in writing
to that effect. 
 (b) Enforcement Rights. Jazz shall have the first right, but not the obligation, to bring an
appropriate suit or take other action against any person or entity engaged in, or to defend against, any Product Infringement, at Jazz’s cost and expense. If Jazz does not, within [**] days ([**] days in the case of a filing described in
Section 7.5(a)(i)(B) above) after its receipt or delivery of notice under Section 7.5(a), commence a suit to enforce the applicable Patents, take other action to terminate such Product Infringement or initiate a defense against such
Product Infringement, then upon Jazz’s prior written consent, not to be unreasonably withheld, Concert 

  
 32.

 
shall have the right, but not the obligation, to commence such a suit or take such an action or defend against such Product Infringement in the Territory at its own cost and expense. Neither
Party shall settle any such suit or action in any manner that would negatively impact the Licensed Patents or that would limit or restrict the ability of Jazz to sell Licensed Products or Jazz Compounds anywhere in the Territory without the prior
written consent of the other Party. 
 (c) Collaboration. Each Party shall take reasonably requested actions, at the
other Party’s expense, to enable such Party to commence a suit or take other actions under Section 7.5(b) and shall provide to the enforcing Party reasonable assistance in such enforcement, at such enforcing Party’s request and
expense, including joining such action as a party plaintiff if required by applicable Laws to pursue such action. The enforcing Party shall keep the other Party regularly informed of the status and progress of such enforcement efforts and shall
reasonably consider the other Party’s comments on any such efforts. The non-enforcing Party shall be entitled to separate representation in such matter by counsel of its own choice and at its own expense, but such Party shall at all times
cooperate fully with the enforcing Party. 
 (d) Expenses and Recoveries. The Party bringing or defending a claim, suit
or action under Section 7.5(b) shall be solely responsible for any expenses incurred by such Party as a result of such claim, suit or action. If such Party recovers monetary damages in such claim, suit or action, such recovery shall be
allocated first to the reimbursement of any expenses incurred by the Parties in such litigation (including, for this purpose, a reasonable allocation of expenses of internal counsel), and any remaining amounts shall be allocated as follows: [**].

 (e) Infringement of Development Patents Claiming Jazz Compound. For any and all (i) infringement of any
Development Patents that involves (A) the using, making, importing, exporting, offering for sale or selling Jazz Compounds or products containing Jazz Compounds, or (B) the filing of an ANDA under Section 505(j) of the FD&C Act or
an application under Section 505(b)(2) of the FD&C Act naming a product containing a Jazz Compound as a reference listed drug and including a certification under Section 505(j)(2)(A)(vii)(IV) or 505(b)(2)(A)(iv), respectively, or
(ii) declaratory judgment actions against any Development Patent in the Territory in connection with any infringement described in clause (i), Jazz shall have the sole right to bring an appropriate suit or to take other action against any
person or entity engaged in such other infringement, or to defend such declaratory judgment action, in its sole discretion, and shall bear all related expenses and retain all related recoveries; provided, however, that Jazz shall update and
reasonably consult with Concert about the infringement and suit or other action. Concert shall take reasonably requested actions, at Jazz’s expense, to enable Jazz to commence a suit or take other actions under this Section 7.5(e) and
shall provide to Jazz reasonable assistance in such enforcement or defense, at Jazz’s request and expense, including joining such action as a party plaintiff if required by applicable Laws to pursue such action. Jazz shall not settle any such
suit or action in any manner that would negatively impact the Development Patents or that would limit or restrict the ability to sell products Covered by the Development Patents anywhere in the Territory without the prior written consent of Concert.

 7.6 Enforcement of Jazz Development Patents. Jazz shall have the sole right, but not the obligation, to bring an
appropriate suit or other action against any person or entity allegedly infringing any Patents claiming Jazz Development Inventions and to defend against any declaratory judgment action against any such Patents. Concert shall provide reasonable
assistance to Jazz in such enforcement or defense, at Jazz’s request and expense. 

  
 33.

 7.7 Orange Book Listing. Upon a Party’s receipt of a notice of allowance (or
equivalent) of an applicable Licensed Patent, Concert shall promptly provide Jazz with all information reasonably required by Jazz to list such Licensed Patent in the Orange Book maintained by the FDA or similar or equivalent patent listing source,
if any, in other countries in the Territory (collectively, “Orange Book and Equivalents”). Jazz shall have the sole right to determine which Licensed Patent or other patent shall be included in the Orange Book for Licensed Products
and products containing Jazz Compounds. 
 7.8 Patent Term Extensions. Concert will cooperate with Jazz, at
Jazz’s request, in seeking and obtaining patent term extensions (including any pediatric exclusivity extensions as may be available) or supplemental protection certificates or their equivalents in any country with respect to any Licensed
Patents and Licensed Products or products containing Jazz Compounds. If elections with respect to obtaining such patent term extensions are to be made, Jazz shall have the sole right to make such elections. 

7.9 Personnel Obligations. Prior to beginning work under this Agreement relating to any Development of a Licensed Product, each
employee, agent or independent contractor of Concert or its Affiliates shall be bound by invention assignment obligations that are consistent with the obligations of Concert in this Article 7, including without limitation: (a) promptly
reporting any invention, discovery, process or other intellectual property right; (b) assigning to Concert, as applicable, all of his or her right, title and interest in and to any invention, discovery, process or other intellectual property
right; (c) cooperating in the preparation, filing, prosecution, maintenance and enforcement of any Patent; (d) performing all acts and signing, executing, acknowledging and delivering any and all documents required for effecting the
obligations and purposes of this Agreement; and (e) complying with obligations of confidentiality and non-use consistent with those contained in this Agreement. 
 7.10 Trademarks. Jazz and its Affiliates and Sublicensees shall have the right to brand the Licensed Products in the Territory using any Trademarks it determines appropriate for the Licensed
Products, which may vary by country or within a country (the “New Product Marks”), provided that Jazz shall not, and shall ensure that its Affiliates and sublicensees will not, make any use of the trademarks or house marks of
Concert (including Concert’s corporate name) or any trademark confusingly similar thereto. As between the Parties, Jazz shall own all rights in the New Product Marks and shall register and maintain, in its discretion and at its own cost and
expense, the New Product Marks in the countries and regions in the Territory that it determines to be appropriate. Jazz shall have the sole right, in its discretion and at its expense, to defend and enforce the New Product Marks in the Territory.

  
 34.

 ARTICLE 8 
 REPRESENTATIONS AND WARRANTIES; COVENANTS 
 8.1 Mutual Representations
and Warranties. Each Party hereby represents and warrants to the other Party as follows: 
 (a) Corporate Existence.
As of the Effective Date, it is a company or corporation duly organized, validly existing, and in good standing under the Laws of the jurisdiction in which it is incorporated. 
 (b) Corporate Power, Authority and Binding Agreement. As of the Effective Date, (i) it has the corporate power and authority and the legal right to enter into this Agreement and perform its
obligations hereunder; (ii) it has taken all necessary corporate action on its part required to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; and (iii) this Agreement has been duly
executed and delivered on behalf of such Party, and constitutes a legal, valid, and binding obligation of such Party that is enforceable against it in accordance with its terms. 

8.2 Additional Representations and Warranties of Concert. Concert represents and warrants as of the Effective Date and, as
applicable, covenants to Jazz as follows: 
 (a) Title; Encumbrances. Concert is the sole owner of the entire
right, title and interest in and to all patents, patent applications and other intellectual property rights included within the Licensed Intellectual Property, free and clear from any mortgages, pledges, liens, security interests, conditional and
installment sale agreements or encumbrances of any kind, other than licenses granted to Third Parties that are not inconsistent with the rights and licenses granted to Jazz under this Agreement. Concert has the full and legal rights and authority to
license to Jazz the Licensed Intellectual Property as provided in this Agreement; 
 (b) Exhibit A. Exhibit
A is an accurate listing by owner, inventor(s), serial number, filing date, country, and status of all patents and patent applications owned or controlled by Concert as of the Effective Date that are necessary or useful for the development,
manufacture, use, offer for sale, sale or import of D-GHB Compounds. Concert has not granted any licenses under any of the Licensed Patents listed on Exhibit A, and no Affiliate of Concert or Third Party has any right, title or interest in
any of the Licensed Patents listed on Exhibit A; 
 (c) Control. Concert Controls (i) all Patents
owned, invented or licensed by Concert that are necessary or useful for the development, manufacture, use, offer for sale, sale or import of D-GHB Compounds and (ii) all Information owned, generated or licensed by Concert that is related to any
D-GHB Compounds, and during the Term Concert shall not grant any rights or licenses to any Affiliate or Third Party that would result in such Patents (whether existing on the Effective Date or arising during the Term) not meeting the criteria
necessary for inclusion in Licensed Patents or such Information (whether existing on the Effective Date or arising during the Term) not meeting the criteria necessary for inclusion in Licensed Know-How; 

(d) Validity. There is no fact or circumstance known to Concert that would cause Concert to reasonably conclude that any issued
patent included in the Licensed Patents is invalid or unenforceable; 
 (e) Inventorship. To Concert’s
knowledge, the inventorship of each Licensed Patent is properly identified on each patent and patent application included within the Licensed Patents; 

  
 35.

 (f) Good Standing. All official fees, maintenance fees and annuities for the Licensed
Patents have been paid and all administrative procedures with Governmental Authorities have been completed for the Licensed Patents such that the Licensed Patents are subsisting and in good standing; 

(g) Duty of Disclosure. Concert has complied with its duty of candor to the U.S. Patent and Trademark Office respecting the
prosecution of all of the Licensed Patents; 
 (h) Notice of Infringement. It has not received any written notice
or threat (whether written or oral) from any Third Party asserting or alleging that, nor, to Concert’s knowledge, has, any research, manufacture or development of Licensed Products by Concert prior to the Effective Date infringed the
intellectual property rights of any Third Party; 
 (i) Notice of Misappropriation. It has not received any
written notice or threat (whether written or oral) from any Third Party asserting or alleging, and there is no basis for any assertion or allegation, that any research, manufacture or development of Licensed Products by Concert prior to the
Effective Date misappropriated the intellectual property rights of any Third Party; 
 (j) Prior Art. Concert is
not aware of any reference or prior art that, in Concert’s reasonable judgment, would preclude the issuance of any claim in a Licensed Patent directed to a D-GHB Compound; 

(k) No Conflicts. Concert has not entered, and shall not enter, into any agreement with any Third Party that is in conflict with
the rights granted to Jazz under this Agreement, and has not taken and shall not take any action that would in any way prevent it from granting the rights granted to Jazz under this Agreement, or that would otherwise materially conflict with or
adversely affect Jazz’s rights under this Agreement; 
 (l) Third Party Technology. To Concert’s
knowledge, (i) the manufacture, Development and Commercialization of Licensed Products as currently contemplated to be formulated and manufactured in accordance with the Development Plan will not infringe or misappropriate any intellectual
property rights of a Third Party, and (ii) there are no pending Third Party patent applications that, if issued with their published or currently pending claims, would be infringed by the manufacture, Development or Commercialization of
Licensed Products as currently contemplated to be formulated and manufactured in accordance with the Development Plan; 

(m) Third Party Infringement. To Concert’s knowledge, no Third Party is infringing or has infringed any Licensed Patents or
is misappropriating or has misappropriated any Licensed Know-How; 
 (n) No Proceeding. There are no pending, and
to Concert’s knowledge, no threatened, adverse actions, suits or proceedings (including interferences, reissues, reexaminations, cancellations, oppositions, nullity actions, invalidation actions or post-grant reviews) against Concert involving
the Licensed Intellectual Property or Licensed Products; 

  
 36.

 (o) Regulatory Communications. Concert has not received any communications from any
Regulatory Authority describing any matters specific to a Licensed Product, or to any class of drugs (including deuterated compounds) to which a Licensed Product belongs, that may be necessary to be overcome in order to obtain Regulatory Approval of
any Licensed Product, nor does Concert have any knowledge of any basis for such matters; 
 (p) Disclosure. Concert has
disclosed to Jazz (i) all material written information in Concert’s possession or Control as of the Effective Date relating to Licensed Products, and (ii) all information of which it is aware or which is in its possession or Control
that is material to evaluating the Licensed Patents (including information relating to the novelty, validity or sufficiency of the Licensed Patents and any challenges thereto), and all such information disclosed by Concert is, to Concert’s
knowledge, true and correct; 
 (q) Trademarks. Concert does not Control as of the Effective Date, and will not Control
during the Term, any Trademarks that are related to D-GHB Compounds; provided, however, that this Section 8.2(q) shall not restrict Concert from obtaining or maintaining Trademarks that are directed to its corporate name or logo or its
generally applicable deuteration technology; and 
 (r) Platform Licensed Patents. There are no Platform Licensed
Patents. 
 8.3 Mutual Covenants. 
 (a) No Debarment. In the course of the Development of the Licensed Product, neither Party shall use any employee or consultant who has been debarred by any Regulatory Authority or, to such
Party’s knowledge, is the subject of debarment proceedings by a Regulatory Authority. Each Party shall notify the other Party promptly upon becoming aware that any of its employees or consultants has been debarred or is the subject of debarment
proceedings by any Regulatory Authority. 
 (b) Compliance. Each Party and its Affiliates shall comply in all
material respects with all applicable Laws in the Development and Commercialization of Licensed Products and performance of its obligations under this Agreement, including, to the extent applicable to such Party and its activities hereunder, the
statutes, regulations and written directives of the FDA, the EMA and any Regulatory Authority having jurisdiction in the Territory, the FD&C Act, the Prescription Drug Marketing Act, the Federal Health Care Programs Anti-Kickback Law, 42 U.S.C.
1320a-7b(b), the statutes, regulations and written directives of Medicare, Medicaid and all other health care programs, as defined in 42 U.S.C. § 1320a-7b(f), the Foreign Corrupt Practices Act of 1977, the United Kingdom Bribery Act, or any Law
enacted pursuant to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions Convention, each as may be amended from time to time. 

8.4 Disclaimer. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, (A) NO REPRESENTATIONS OR WARRANTIES WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR NON-MISAPPROPRIATION OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS, ARE MADE OR GIVEN BY OR ON

  
 37.

 
BEHALF OF A PARTY, AND (B) ALL REPRESENTATIONS AND WARRANTIES, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, ARE HEREBY EXPRESSLY EXCLUDED. 

ARTICLE 9 

INDEMNIFICATION 
 9.1 Indemnification by Concert. Concert shall defend, indemnify, and hold Jazz and its Affiliates and their respective officers, directors, employees, and agents (the “Jazz
Indemnitees”) harmless from and against any and all damages or other amounts payable to a Third Party claimant, as well as any reasonable attorneys’ fees and costs of litigation incurred by such Jazz Indemnitees, resulting from any
claims, suits, proceedings or causes of action brought by such Third Party (collectively, “Claims”) against such Jazz Indemnitee to the extent arising from or based on (a) the research or Development of Licensed Products by or
on behalf of Concert or its Affiliates prior to the Effective Date, (b) performance by Concert, its Affiliates or Third Party subcontractors engaged by Concert of the activities allocated to Concert under the Development Plan, (c) the
breach of any of Concert’s obligations, representations or warranties under this Agreement, or (d) the willful misconduct or negligent acts of Concert or its Affiliates. The foregoing indemnity obligation shall not apply to the extent that
(i) the Jazz Indemnitees fail to comply with the indemnification procedures set forth in Section 9.3 and Concert’s defense of the relevant Claims is prejudiced by such failure, or (ii) any Claim arises from or is based on any
activity set forth in Section 9.2(b) or 9.2(c) for which Jazz is obligated to indemnify the Concert Indemnitees under Section 9.2. 
 9.2 Indemnification by Jazz. Jazz shall defend, indemnify, and hold Concert and its Affiliates and their respective officers, directors, employees, and agents (the “Concert
Indemnitees”) harmless from and against damages or other amounts payable to a Third Party claimant, as well as any reasonable attorneys’ fees and costs of litigation incurred by such Concert Indemnitees, resulting from any Claims
against such Concert Indemnitee to the extent arising from or based on (a) the Development or Commercialization of Licensed Products by or on behalf of Jazz or its Affiliates or Sublicensees (other than by Concert or its Affiliates or Third
Party subcontractors), (b) the breach of any of Jazz’s obligations, representations or warranties under this Agreement, or (c) the willful misconduct or negligent acts of Jazz or its Affiliates. The foregoing indemnity obligation
shall not apply to the extent that (i) the Concert Indemnitees fail to comply with the indemnification procedures set forth in Section 9.3 and Jazz’s defense of the relevant Claims is prejudiced by such failure, or (ii) any Claim
arises from or is based on any activity set forth in Section 9.1(c) or 9.1(d) for which Concert is obligated to indemnify the Jazz Indemnitees under Section 9.1. 
 9.3 Indemnification Procedures. The Party claiming indemnity under this Article 9 (the “Indemnified Party”) shall give written notice to the Party from whom indemnity is being
sought (the “Indemnifying Party”) promptly after learning of such Claim. The Indemnified Party shall provide the Indemnifying Party with reasonable assistance, at the Indemnifying Party’s expense, in connection with the defense
of the Claim for which indemnity is being sought. The Indemnified Party may participate in and monitor such defense with counsel of its own choosing at its sole expense; provided, however, the Indemnifying Party shall have the right to assume and
conduct the defense of the Claim with counsel of its choice. The Indemnifying Party shall not 

  
 38.

 
settle any Claim without the prior written consent of the Indemnified Party, not to be unreasonably withheld, unless the settlement involves only the payment of money. So long as the
Indemnifying Party is actively defending the Claim in good faith, the Indemnified Party shall not settle or compromise any such Claim without the prior written consent of the Indemnifying Party. If the Indemnifying Party does not assume and conduct
the defense of the Claim as provided above, (a) the Indemnified Party may defend against, consent to the entry of any judgment, or enter into any settlement with respect to such Claim in any manner the Indemnified Party may deem reasonably
appropriate (and the Indemnified Party need not consult with, or obtain any consent from, the Indemnifying Party in connection therewith), and (b) the Indemnifying Party shall remain responsible to indemnify the Indemnified Party as provided in
this Article 9. 
 9.4 Limitation of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL,
CONSEQUENTIAL, INCIDENTAL, PUNITIVE, OR INDIRECT DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. NOTWITHSTANDING THE FOREGOING, NOTHING IN THIS SECTION 9.4 IS INTENDED TO
OR SHALL LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF ANY PARTY UNDER SECTION 9.1 OR 9.2 OR DAMAGES AVAILABLE FOR BREACH OF THE OBLIGATIONS SET FORTH IN ARTICLE 10. 

9.5 Insurance. Each Party shall procure and maintain insurance, including product liability insurance, consistent with normal
business practices of prudent companies similarly situated at all times during which any Licensed Product is being clinically tested in human subjects or commercially distributed or sold by such Party and for the [**] year period thereafter. It is
understood that such insurance shall not be construed to create a limitation of either Party’s liability with respect to its indemnification obligations under this Article 9. Each Party shall provide the other Party with written evidence of
such insurance upon request. Each Party shall provide the other Party with written notice at least [**] days prior to the cancellation or non-renewal of such insurance. Concert’s out-of-pocket costs incurred to obtain clinical trial insurance
for clinical trials conducted by Concert pursuant to the Development Plan shall be included in the Development Budget and paid by Jazz to Concert pursuant to Section 6.2(a)(ii). 

ARTICLE 10 

CONFIDENTIALITY 
 10.1 Confidentiality. Each Party agrees that, during the Term and for a period of [**] years thereafter, it shall keep confidential and shall not publish or otherwise disclose and shall not use for
any purpose other than as provided for in or permitted under this Agreement (which includes the exercise of any rights or the performance of any obligations hereunder) any Confidential Information of the other Party, except to the extent expressly
authorized by this Agreement or otherwise agreed in writing by the Parties. The foregoing confidentiality and non-use obligations shall not apply to any portion of the other Party’s Confidential Information that the receiving Party can
demonstrate by competent written proof: 
 (a) was already known to the receiving Party or any of its Affiliates,
other than under an obligation of confidentiality, at the time of disclosure by the other Party; 

  
 39.

 (b) was generally available to the public or otherwise part of the public domain at
the time of its disclosure to the receiving Party or any of its Affiliates; 
 (c) became generally available to
the public or otherwise part of the public domain after its disclosure to the receiving Party or any of its Affiliates and other than through any act or omission of the receiving Party or any of its Affiliates in breach of this Agreement;

 (d) was disclosed to the receiving Party or any of its Affiliates by a Third Party who has a legal right to make
such disclosure and who did not obtain such information under obligations of confidentiality directly or indirectly to the other Party; or 
 (e) was independently discovered or developed by the receiving Party or any of its Affiliates without access to or aid, application or use of the other Party’s Confidential Information, as
evidenced by a contemporaneous writing. 
 Notwithstanding the definition of “Confidential Information” in
Article 1, (i) all Jazz Development Inventions and Development Data, whether generated by one Party or both Parties, shall be deemed the Confidential Information of Jazz and not the Confidential Information of Concert and Concert shall not be
permitted to claim an exemption from the obligations set forth in this Section 10.1 on account of such Information satisfying the criteria set forth in subsection (a) or (e) and (ii) all Licensed Know-How that solely and
specifically relates to Licensed Products shall be deemed to be both the Confidential Information of Jazz and the Confidential Information of Concert and Concert shall not be permitted to claim an exemption from the obligations set forth in this
Section 10.1 on account of such Information satisfying the criteria set forth in subsection (a) or (e). Jazz shall nevertheless be permitted to use and disclose in confidence (and to permit its disclosees to use and further disclose in
confidence) the Licensed Know-How in connection with all activities permitted pursuant to Sections 2.1(a), 2.1(e), 2.1(f) and 2.2(a). 
 10.2 Authorized Disclosure. Notwithstanding the obligations set forth in Section 10.1, a Party may disclose the other Party’s Confidential Information and the terms of this Agreement:

 (a) to its Affiliates and its and their employees, agents, consultants, contractors, licensees or Sublicensees to the
extent such disclosure is reasonably necessary for the sole purpose of performing its obligations or exercising its rights under this Agreement; provided that in each case, the disclosees are bound by written obligations of confidentiality and
non-use consistent with those contained in this Agreement; 
 (b) to the extent such disclosure is reasonably
necessary in filing or prosecuting (but as to the use of Development Data, subject to Section 7.1) patent applications (provided that the disclosing Party obtains the prior written approval of the other Party, such approval not to be
unreasonably withheld) or preparing and submitting filings to or otherwise communicating with Regulatory Authorities in connection with a Licensed Product (provided that such disclosing Party is the Party responsible for such filings pursuant to
Section 4.9); provided, however, that the receiving Party shall furnish only that portion of the Disclosing Party’s Confidential Information that is reasonably necessary or required to be furnished for such purposes; 

(c) to the extent such disclosure is made in communications with existing or bona fide prospective or actual acquirers, merger
partners, lenders or investors of the receiving 

  
 40.

 
Party for the sole purpose of such third party evaluating or consummating an actual or potential investment, loan, acquisition, merger or similar transaction; provided that in connection with
such disclosure, such Party shall inform each disclosee of the confidential nature of such Confidential Information and ensure that each such disclosee is bound by obligations of confidentiality and non-use (except for the purpose explicitly
contemplated in this Section 10.2(c)); 
 (d) to the extent such disclosure is reasonably necessary to comply with
applicable Laws promulgated or enforced by the U.S. Securities and Exchange Commission or regulations promulgated by applicable security exchanges, provided, however, that Section 10.4(d) shall apply with respect to any requirement to file a
copy of this Agreement with the U.S. Securities and Exchange Commission or other Governmental Authorities; or 
 (e)
to the extent such disclosure is reasonably necessary to comply with applicable Laws (other than those described in (d) above) or is required to be disclosed by court order, administrative subpoena or order of a governmental authority; in
each case provided that the Party with such disclosure obligation shall promptly notify the other Party of such required disclosure and, if requested by the other Party in writing, shall use reasonable efforts to obtain, or to assist the other Party
in obtaining, a protective order preventing or limiting the required disclosure. 
 10.3 Technical Publication.

 (a) Concert may not publish peer reviewed manuscripts, or provide or engage in other forms of public disclosure
including submission or publication of abstracts or other manuscripts and presentations, of results of studies carried out under the Development Plan, or otherwise pertaining to a Licensed Product, without the prior written consent of Jazz; provided
that Concert shall have the right to publish, without Jazz’s prior written consent, data previously published or publicly disclosed by Jazz, provided that such data is, to Concert’s knowledge, accurately presented and proper attribution is
given to Jazz. 
 (b) For the avoidance of doubt, Jazz shall have the right to publish and otherwise publicly
disclose all Development Data, including Information concerning clinical trials of Licensed Products, including on clinicaltrials.gov; provided that with respect to publication of Development Data in a scientific journal, Jazz shall provide Concert
written notice of such intended publication, along with a copy of such publication, [**] Business Days prior to such publication, and with respect to other public disclosures of Development Data, Jazz shall endeavor to notify Concert about such
intended public disclosure as soon as is practicable. 
 10.4 Publicity. 

(a) The Parties agree that the terms of this Agreement are the Confidential Information of both Parties. Notwithstanding the
foregoing, either Party may disclose such terms as otherwise permitted in Section 10.2 or this Section 10.4. 

(b) The Parties shall issue a joint press release of the execution of this Agreement and its terms in the form attached as
Exhibit D (together with any mutually agreed modifications thereto), which shall be issued at a mutually agreed time after the Effective Date. 

  
 41.

 (c) After release of such press release, if either Party desires to make a further
press release or other public announcement concerning the material terms of this Agreement or any activities hereunder, such Party shall give reasonable prior advance notice of the proposed text of such announcement to the other Party for its prior
review and approval (except as otherwise provided herein), except that in the case of a press release or governmental filing required by applicable Laws, the disclosing Party shall provide the other Party with such advance notice as it reasonably
can and shall not be required to obtain approval therefor. Each such announcement shall contain appropriate references to the other Party if so requested. In addition, Concert shall have the right, with Jazz’s prior written consent, not to be
unreasonably withheld or delayed, to issue press releases announcing the achievement of milestones under Section 6.3. A Party commenting on such a proposed announcement shall provide its comments, if any, within [**] Business Days after
receiving the draft announcement for review. Notwithstanding anything in this Agreement to the contrary, neither Party shall be required to seek the permission of the other Party to repeat any information that has already been publicly disclosed by
such Party, or by the other Party, in accordance with this Article 10, provided such information remains accurate as of such time. 
 (d) The Parties acknowledge that either or both Parties may be obligated to file under applicable Laws a copy of this Agreement with the U.S. Securities and Exchange Commission or other
Governmental Authorities. Notwithstanding anything in this Agreement to the contrary, such Party shall be entitled to make such a required filing, provided that it requests confidential treatment of the commercial terms and sensitive technical terms
included in this Agreement to the extent such confidential treatment is reasonably available to such Party. In the event a Party is required to make any such filing, such Party will provide the other Party with a copy of this Agreement marked to
show provisions for which such Party intends to seek confidential treatment and shall reasonably consider and incorporate the other Party’s reasonable comments thereon to the extent consistent with the requirements of Laws as applicable to the
filing Party, governing disclosure of material agreements and material information that must be publicly filed. 

ARTICLE 11 

TERM AND TERMINATION 
 11.1 Term. This Agreement shall become effective on the Effective Date and, unless earlier terminated pursuant to this Article 11, shall remain in effect on a Licensed Product-by-Licensed Product
and country-by-country basis, until the expiration of the Royalty Term of such Licensed Product in such country (the “Term”). Upon the expiration of the Royalty Term for a Licensed Product in a particular country (but not the
earlier termination of this Agreement), the licenses granted by Concert to Jazz under Section 2.1(a) with respect to such Licensed Product and such country shall become fully-paid, royalty free and exclusive. 

11.2 Unilateral Termination by Jazz. Jazz may terminate this Agreement on a country-by-country basis or in its entirety, for any
or no reason upon ninety (90) days prior written notice to Concert. 

  
 42.

 11.3 Termination by Either Party for Material Breach. 

(a) Material Breach. Subject to Section 11.3(b), each Party shall have the right to terminate this Agreement upon written
notice to the other Party if such other Party materially breaches its obligations under this Agreement and, after receiving written notice from the non-breaching Party identifying such material breach in reasonable detail, fails to cure such
material breach within [**] days from the date of such notice; provided that if such breach is not a payment breach and is not reasonably capable of cure within such [**]-day period, the breaching Party may submit a reasonable cure plan prior to the
end of such [**]-day period, in which case the other Party shall not have the right to terminate this Agreement so long as the breaching Party cures such material breach within an additional [**] days. 

(b) Disputed Breach. If the alleged breaching Party disputes in good faith the existence or materiality of a breach specified in a
notice provided by the other Party in accordance with Section 11.3(a), and such alleged breaching Party provides the other Party written notice of such dispute within such [**] day period, then the non-breaching Party shall not have the right
to terminate this Agreement under Section 11.3(a) for so long as the alleged breaching Party continues to dispute in good faith the existence or materiality of the alleged breach unless and until an arbitrator, in accordance with Article 12,
has determined that the alleged breaching Party has materially breached the Agreement and failed to cure such breach within [**] days (or [**] days if such breach is not a payment breach and is not reasonably capable of cure within [**] days) from
the date of such determination of material breach. It is understood and agreed that during the pendency of such dispute, all of the terms and conditions of this Agreement shall remain in effect and the Parties shall continue to perform all of their
respective obligations hereunder. 
 11.4 Termination for Abandonment. Concert may terminate this Agreement on
account of Jazz’s abandonment of all Development and Commercialization of all Licensed Products as follows: 

(a) If the board of directors or the executive committee (or successor thereto) of Jazz makes a decision to permanently cease all
Development and Commercialization of all Licensed Products (including by Jazz’s Affiliates and Sublicensees), then Concert may terminate this Agreement upon written notice to Jazz. Jazz shall notify Concert promptly upon making such decision;
or 
 (b) If Jazz and its Affiliates and Sublicensees do not conduct any Activities (as defined below) with
respect to the Development or Commercialization of any Licensed Products for a period of [**] consecutive days or more [**], then Concert may provide Jazz with a written notice of its intent to terminate this Agreement pursuant to this Section
11.4(b) and Concert may terminate this Agreement upon subsequent written notice to Jazz, which subsequent notice shall not be issued any sooner than [**] days after Jazz’s receipt of Concert’s initial notice pursuant to this Section
11.4(b) and shall not be issued if, after Jazz’s receipt of Concert’s initial notice but prior to the issuance of such subsequent notice, Jazz or its Affiliate or Sublicensee conducts any Activities with respect to the Development or
Commercialization of any Licensed Products. For the purposes of this Section 11.4(b), “Activities” shall include [**] activities with respect to the Development or Commercialization of a Licensed Product, including without limitation [**]
in the case of each of the foregoing, to the extent such activity, or such activities in the aggregate during the applicable time period, is or are non-trivial and performed for the purpose of progressing the Development or Commercialization of any
Licensed Product. “Activities” also include [**]. For clarity, if such circumstances exist and [**] then Concert shall not have the right to send any notice pursuant to this Section 11.4(b) or to terminate this Agreement pursuant to this
Section 11.4(b). In addition, if [**], and [**] or [**] and [**], then the [**] shall be deemed to be a period in which Jazz or its Affiliate or Sublicensee is conducting Activities with respect to the Development or Commercialization of any
Licensed Products, and Concert shall not have the right to send any notice pursuant to this Section 11.4(b) or to terminate this Agreement pursuant to this Section 11.4(b) during any such period. For further clarity, if [**], then each period [**]
the calculation of the [**] periods for the purposes of determining whether Concert has the right to send any notice pursuant to this Section 11.4(b) or to terminate this Agreement pursuant to this Section 11.4(b). 

  
 43.

 11.5 Effects of Termination. Upon any termination (but not expiration) of this
Agreement with respect to one or more countries or in its entirety, the following shall apply: 
 (a) Licenses.

 (i) All licenses granted to Jazz or Concert under this Agreement shall terminate for the terminated countries (or if
this Agreement is terminated in its entirety, for the Territory), except for the license granted in Section 2.2(a), which shall survive termination. 
 (ii) Upon Concert’s request within [**] days after the effective date of termination, (1) Jazz and Concert shall negotiate in good faith to agree upon commercially reasonable royalties to
be paid by Concert to Jazz in consideration for the license set forth in part (2) of this Section 11.5(a)(ii) and (2) upon reaching such agreement, Jazz shall grant Concert a non-exclusive, royalty-bearing license, with the right to
sublicense through multiple tiers, under the Joint Patents and other Patents Controlled by Jazz or any of its Affiliates (excluding Patents claiming Jazz Development Inventions) that claim Information and inventions made in the course of development
of Licensed Products, to make, have made, use, sell, have sold, offer for sale and import Licensed Products in the Field in the terminated countries (or if this Agreement is terminated in its entirety, in the Territory). 

(b) Confidential Information. All Licensed Know-How shall be deemed solely the Confidential Information of Concert. 

(c) Publications. 
 (i) Concert, and not Jazz, shall thereafter have the right to publish those clinical trial and other results that are generated after the effective date of termination with respect to
Concert’s development and commercialization activities relating to Licensed Products. 
 (ii) After termination of
this Agreement in its entirety pursuant to Section 11.2, Jazz shall not publish clinical trial and other scientific results that concern a Licensed Product and that were generated during the term of this Agreement unless: (A) such results
are presented in such publication in a factual and accurate manner that is not misleading; (B) such publication does not omit material Information in Jazz’s possession and control that would result in an interpretation of such results that
is materially more favorable, with respect to the safety or efficacy of the Licensed Product, than the interpretation set forth in such publication; (C) such publication complies with applicable, then current industry standards; (D) Jazz
submits a copy of such publication to Concert a reasonable time in advance of its intended publication; (E) Jazz implements all reasonable comments that are provided by Concert in a timely manner; and (F) Jazz obtains Concert’s prior
written consent before publishing such publication, provided that (1) such consent shall not be unreasonably withheld or delayed and (2) such consent need not be obtained by Jazz where such publication is reasonably required by applicable
Law, court order, administrative subpoena, or order of a Governmental Authority or reasonably necessary for compliance with industry norms regarding data dissemination. Further, following such termination, Jazz shall not issue any press releases or
other public disclosure relating to the Licensed Products unless such press release or other public disclosure relating to the Licensed Products falls within an exception listed in Section 10.4, is reasonably necessary to comply with

  
 44.

 
applicable Laws, or is required to be disclosed by court order, administrative subpoena or order of a governmental authority; provided, however, that the restrictions set forth in this
Section 11.5(c)(ii) shall not be interpreted as limiting Jazz’s ability to issue press releases or other public disclosures regarding Jazz Compounds or disclosing customary, non-scientific information including the fact that this Agreement
has been terminated or that Jazz is no longer developing or commercializing Licensed Products in the Field. 
 (d)
Cessation of Development and Commercialization. In the event that Jazz terminates this Agreement with respect to a country or countries (but not in its entirety) pursuant to Section 11.2 during the Royalty Term for any Licensed Product in
such country, Jazz shall not undertake any further development or commercial activities for such Licensed Product in the Field in such country during the Royalty Term therefor and Jazz shall no longer have any payment or diligence obligations with
respect to such terminated country or countries; provided that, Jazz may subsequently continue or recommence its development or commercialization activities with respect to such Licensed Product in the Field in a terminated country during the
Royalty Term for such Licensed Product in such country by providing Concert with notice thereof. If Jazz provides such notice [**] or [**] any receipt by Jazz of a notice from Concert pursuant to this Section 11.5(d) with respect to such Licensed
Product in such country, then all of Jazz’s payment obligations to Concert under this Agreement with respect to such Licensed Product in such terminated country shall again apply to such continued or recommenced development or commercialization
activities notwithstanding such termination, and Jazz’s licenses pursuant to Sections 2.1(a) and 2.1(f) with respect to such Licensed Product in such terminated country shall again apply with respect thereto notwithstanding Section 11.5(a)(i).
Concert shall notify Jazz in writing promptly if Concert intends, within a reasonable period of time, to (i) initiate development or commercialization activities upon such Licensed Product in the Field in a terminated country or (ii) grant to a
Third Party a license under the Licensed Intellectual Property to develop and commercialize such Licensed Product in the Field in a terminated country. Concert shall not initiate development or commercialization activities upon such Licensed Product
in the Field in a terminated country or grant a license to a Third Party under the Licensed Intellectual Property to develop and commercialize such Licensed Product in the Field in a terminated country unless (A) Concert provides Jazz with notice
pursuant to the preceding sentence and (B) Jazz does not, [**] its receipt of such notice, provide notice to Concert of Jazz’s intent to continue or recommence its development or commercialization activities with respect to such Licensed
Product in the Field in a terminated country. If Jazz recommences its development or commercialization activities with respect to such Licensed Product in the Field in a terminated country during the Royalty Term for such Licensed Product in such
country and provides notice to Concert thereof at any time that is [**] after Jazz’s receipt of a notice from Concert pursuant to this Section 11.5(d), then Jazz will not have any payment obligations to Concert under this Agreement or any
licenses from Concert under this Agreement with respect to such Licensed Product in such terminated country. Notwithstanding Section 11.6, this Section 11.5(d) shall terminate and have no further force or effect upon any termination of this
Agreement pursuant to Section 11.3 or 11.4. 
 (e) Other Obligations. Jazz’s obligations pursuant to Sections 4.3(a)
and 5.2 shall terminate and, except for those payment obligations that accrued prior to termination, Jazz shall not have any obligations to make any payments to Concert after termination. 

(f) Wind-Down. Upon receipt of a termination notice from Jazz during the conduct of the Development Program, Concert shall
immediately commence winding down its activities under the Development Plan and shall use best efforts not to incur any additional Development expenses; provided that if this Agreement is terminated only with respect to certain countries, this
Section 11.5(f) shall apply to activities with respect to such terminated countries only. 
 (g) Prosecution and
Maintenance of Development Patents. 
 (i) Subject to the remainder of this Section 11.5(g)(i), Jazz shall have
the first right to prepare, file, prosecute and maintain the Joint Patents in the terminated countries, at Jazz’s sole cost and expense. Jazz shall provide Concert reasonable opportunity to review and comment on such prosecution efforts
regarding such Joint Patents, as follows. Jazz shall provide Concert with copies of all material communications from any patent authority regarding such Joint Patents, and shall provide Concert, for its review and comment, with drafts of any
material filings or responses to be made to such patent authorities a reasonable amount of time in advance of submitting such filings or responses. Jazz shall consider in good faith and shall implement as appropriate any reasonable comments thereto
provided by Concert in connection with the prosecution of such Joint Patents. If Jazz decides to cease the prosecution or maintenance of any such Joint Patent, it shall notify Concert in writing sufficiently in advance so that Concert may, at its
discretion, assume the responsibility for the prosecution or maintenance of such Patents, at Concert’s cost and expense. If Concert assumes such responsibility, Concert shall provide Jazz with copies of all material communications from any
patent authority regarding such Joint Patents, shall provide Jazz, for its review and comment, with drafts of any material filings or responses to be made to such patent authorities a reasonable amount of time in advance of submitting such

  
 45.

 
filings or responses and shall consider in good faith and shall implement as appropriate any reasonable comments thereto provided by Jazz in connection with the prosecution of such Joint Patents.

 (ii) Subject to the remainder of this Section 11.5(g)(ii), Concert shall have the first right to prepare, file,
prosecute and maintain those Development Patents in the terminated countries that are solely owned by Concert, at its sole cost and expense. Concert shall provide Jazz reasonable opportunity to review and comment on such prosecution efforts
regarding those Development Patents in the terminated countries that are solely owned by Concert and that are related to Jazz Compounds or products containing Jazz Compounds, or that are useful in connection with the development and
commercialization of Jazz Compounds or products containing Jazz Compounds, (collectively, the “Jazz-Related Post-Termination Patents”) as follows. Concert shall provide Jazz with copies of all material communications from any patent
authority regarding the Jazz-Related Post-Termination Patents, and shall provide Jazz, for its review and comment, with drafts of any material filings or responses to be made to such patent authorities a reasonable amount of time in advance of
submitting such filings or responses. Concert shall consider in good faith and shall implement as appropriate any reasonable comments thereto provided by Jazz in connection with the prosecution of such Jazz-Related Post-Termination Patents, to the
extent related to Jazz Compounds. If Concert decides to cease the prosecution or maintenance of any Jazz-Related Post-Termination Patents, it shall notify Jazz in writing sufficiently in advance so that Jazz may, at its discretion, assume the
responsibility for the prosecution or maintenance of such Jazz-Related Post-Termination Patents, at Jazz’s cost and expense. 
 (iii) Each Party shall provide the other Party all reasonable assistance and cooperation, at the other Party’s request and expense, in the patent prosecution efforts provided above in this
Section 11.5(g), including providing any necessary powers of attorney, executing any other required documents or instruments for such prosecution, and making its personnel with appropriate scientific expertise available to assist in such
efforts. 
 (h) Enforcement of Development Patents. 

(i) Section 7.5(e) shall survive termination and remain in effect with respect to all Development Patents. 

(ii) If either Party becomes aware of any existing or threatened infringement of the Joint Patents in the terminated countries,
it shall promptly notify the other Party in writing to that effect. With respect to any such infringement that is not subject to Section 7.5(e), the Parties will consult with each other regarding any actions to be taken with respect to such
infringement, and unless the Parties agree otherwise in writing, each Party shall have the right to exercise all rights such Party has with respect to such infringement, at its sole expense, and to retain all resulting recoveries. 

(i) Jazz Materials and Information. Concert will have rights to materials, Information, Regulatory Materials and intellectual
property rights (other than the Patents included in the license to be granted pursuant to Section 11.5(a)(ii)) of Jazz related to the Licensed Products under those terms and conditions, including financial terms, as may be agreed by the Parties
in writing (if at all) upon termination of this Agreement. 

  
 46.

 11.6 Survival. Termination or expiration of this Agreement shall not affect any
rights or obligations of the Parties under this Agreement that have accrued prior to the date of termination or expiration. Notwithstanding anything to the contrary, the following provisions shall survive any expiration or termination of this
Agreement: Sections 2.2, 4.7 (sixth sentence only), 4.9(b) (proviso in second sentence only), 6.9, 6.10, 7.1, 7.4(c), 7.4(d) (solely with respect to Jazz’s Patent Activities pursuant to Section 7.4(c)), 7.5(e), 7.6, 8.4, 10.1, 10.2,
10.3(a), 10.4(a), 10.4(c), 11.5, 11.6, 12.2-12.11, 13.2, 13.4, 13.5, 13.6, 13.8, 13.10 and 13.11 and Article 9. 

ARTICLE 12 

DISPUTE RESOLUTION 
 12.1 Disputes. It is the objective of the Parties to establish procedures to facilitate the resolution of disputes arising under this Agreement in an expedient manner by mutual cooperation and
without resort to litigation. In the event of any disputes, controversies or differences which may arise between the Parties out of or in relation to or in connection with this Agreement (other than disputes arising from the JSC for which Jazz has
final decision-making authority, disputes arising from the JPC for which an independent Third Party expert has final decision-making authority, or disputes resolved pursuant to Section 12.11), including, without limitation, any alleged failure
to perform, or breach, of this Agreement, or any issue relating to the interpretation or application of this Agreement (each, a “Dispute”), then upon the request of either Party by written notice, the Parties agree to meet and
discuss in good faith a possible resolution thereof, which good faith efforts shall include at least one in-person meeting between the Parties’ respective Executive Officers. If the matter is not resolved within [**] days following the written
request for discussions, either Party may then invoke the provisions of Section 12.2. 
 12.2 Arbitration. Any
Dispute that is not resolved pursuant to Section 12.1, except for a dispute, claim or controversy under Section 12.10, shall be settled by binding arbitration administered by JAMS before one arbitrator pursuant to the Streamlined
Arbitration Rules and Procedures of JAMS then in effect (the “JAMS Rules”), except as otherwise provided herein. The arbitration shall be governed by the U.S. Federal Arbitration Act, 9 U.S.C. §§ 1-16 (the “Federal
Arbitration Act”), to the exclusion of any inconsistent state laws. The arbitration will be conducted in New York, New York, and the Parties consent to the personal jurisdiction of the U.S. federal courts, for any case arising out of or
otherwise related to this arbitration, its conduct and its enforcement. The language to be used in the arbitral proceedings will be English. Any situation not expressly covered by this Agreement shall be decided in accordance with the JAMS Rules.

 12.3 Governing Law. Resolution of all Disputes and any remedies relating thereto, shall be governed by and
construed under the substantive laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction.

 12.4 Decision. The arbitrator shall issue a reasoned opinion following a full comprehensive hearing, no later than
[**] months following the selection of the arbitrator as provided for in Section 12.2. 

  
 47.

 12.5 Award. Any award shall be promptly paid in Dollars free of any tax, deduction or
offset; and any costs, fees or taxes incident to enforcing the award shall, to the maximum extent permitted by law, be charged against the Party resisting enforcement. If as to any issue the arbitrator should determine under the applicable law that
the position taken by a Party is frivolous or otherwise irresponsible or that any wrongdoing it finds is in callous disregard of law and equity or the rights of the other Party, the arbitrator shall also be entitled to award an appropriate
allocation of the adversary’s reasonable attorney fees, costs and expenses to be paid by the offending Party, the precise sums to be determined after a bill of attorney fees, expenses and costs consistent with such award has been presented
following the award on the merits. Each Party agrees to abide by the award rendered in any arbitration conducted pursuant to this Article 12, and agrees that, subject to the Federal Arbitration Act, judgment may be entered upon the final award in
the Federal District Court in the Southern District of New York and that other courts may award full faith and credit to such judgment in order to enforce such award. The award shall include interest from the date of any damages incurred for breach
of the Agreement, and from the date of the award until paid in full, at a rate fixed by the arbitrator. 
 12.6
Costs. Except as set forth in Section 12.5, each Party shall bear its own legal fees. The arbitrator shall assess his or her costs, fees and expenses against the Party losing the arbitration unless he or she believes that neither Party is
the clear loser, in which case the arbitrator shall divide his or her fees, costs and expenses according to his or her sole discretion. 
 12.7 Injunctive Relief. Nothing in this Article 12 will preclude either Party from seeking equitable relief or interim or provisional relief from a court of competent jurisdiction, including a
temporary restraining order, preliminary injunction or other interim equitable relief, concerning a dispute either prior to or during any arbitration if necessary to protect the interests of such Party or to preserve the status quo pending the
arbitration proceeding. 
 12.8 Confidentiality. The arbitration proceeding shall be confidential and the
arbitrator shall issue appropriate protective orders to safeguard each Party’s Confidential Information. Except as required by applicable Laws (including those promulgated or enforced by the U.S. Securities and Exchange Commission) or
regulations promulgated by applicable security exchanges, no Party shall make (or instruct the arbitrator to make) any public announcement with respect to the proceedings or decision of the arbitrator without prior written consent of the other
Party. The existence of any dispute submitted to arbitration, and the award, shall be kept in confidence by the Parties and the arbitrator, except as required in connection with the enforcement of such award or as otherwise required by applicable
Laws (including those promulgated or enforced by the U.S. Securities and Exchange Commission) or regulations promulgated by applicable security exchanges. 
 12.9 Survivability. Any duty to arbitrate under this Agreement shall remain in effect and be enforceable after termination of this Agreement for any reason. 

12.10 Patent and Trademark Disputes. Any dispute, controversy or claim relating to the scope, validity, enforceability or
infringement of any patents or trademarks covering the manufacture, use, importation, offer for sale or sale of a Licensed Product shall be submitted to a court of competent jurisdiction in the country in which such patent or trademark rights were
granted or arose. 

  
 48.

 12.11 Post-Change of Control Disputes Concerning Licensed Know-How, Licensed Patents or
Exclusivity.  
 (a) Licensed Know-How. If Jazz inquires in good faith with Concert regarding whether certain
Information that has not been disclosed to Jazz pursuant to Section 4.6 is Licensed Know-How and Jazz has a reasonable basis for making such inquiry, then Concert shall respond promptly to Jazz’s inquiry. If Concert responds that any such
Information is excluded from Licensed Know-How and Jazz is not satisfied with Concert’s response, then upon the request of Jazz, the Parties shall pick a mutually acceptable independent Third Party expert with appropriate qualifications and
experience in pharmaceutical development and intellectual property matters to evaluate evidence presented by Concert pursuant to this Section 12.11(a) and determine whether such Information is excluded from Licensed Know-How. If the Parties
fail to agree upon an expert within [**] Business Days after Jazz’s request, then each Party shall select an independent Third Party individual with appropriate qualifications and experience in pharmaceutical development and intellectual
property matters, and the two selected individuals shall select an expert, with comparable independence, qualifications and experience, within [**] Business Days of selection of the two individuals. Concert shall promptly submit to the independent
Third Party expert appointed pursuant to this Section 12.11(a) evidence as to whether such Information is Licensed Know-How; Concert shall supply such evidence in good faith, and shall not provide evidence that is, or is presented in a manner
that is, inaccurate or misleading. [**]. Concert shall not omit any material evidence as to whether the Information is Licensed Know-How. The expert shall evaluate such evidence and determine within [**] Business Days of such submission whether such
Information is Licensed Know-How and shall inform both Parties of her or his determination (without disclosing any Information to Jazz that is not Licensed Know-How), which shall be binding on the Parties with respect to the inclusion or exclusion
of such Information in or from Licensed Know-How. The Parties shall share equally the costs of such expert. 
 (b)
Licensed Patents. If a Change of Control of Concert occurs and Jazz subsequently brings to Concert’s attention a Patent [**] that Jazz believes may be a Licensed Patent, then Concert shall respond promptly to Jazz’s inquiry. If Concert
responds to Jazz’s inquiry by asserting that the Patent is not a Licensed Patent because it is excluded from Licensed Patents pursuant to part (b)(i) of the last sentence of Section 1.57 and Jazz is not satisfied with Concert’s
response, then at Jazz’s request the Parties shall pick a mutually acceptable independent Third Party expert with appropriate qualifications and experience in pharmaceutical development and intellectual property matters to evaluate evidence
presented by Concert pursuant to this Section 12.11(b) and determine whether such Patent is excluded from Licensed Patents pursuant to part (b)(i) of the last sentence of Section 1.57. If the Parties fail to agree upon an expert within
[**] Business Days after Jazz’s request, then each Party shall select an independent Third Party individual with appropriate qualifications and experience in pharmaceutical development and intellectual property matters, and the two selected
individuals shall select an expert, with comparable independence, qualifications and experience, within [**] Business Days of selection of the two individuals. Concert shall promptly submit to the independent Third Party expert appointed pursuant to
this Section 12.11(b) evidence as to whether such exclusions apply; Concert shall supply such evidence in good faith, and shall not provide evidence that is, or is presented in a manner that is, inaccurate or misleading. [**]. Concert shall not
omit any material evidence as to whether the Patent is a Licensed Patent. The Third Party expert shall evaluate such evidence and 

  
 49.

 
determine within [**] Business Days of such submission whether the exclusions apply and shall inform both Parties of his or her determination, which shall be binding on the Parties with respect
thereto. The Parties shall share equally the costs of such expert. For clarity, such expert shall not determine whether such Patent is reasonably required to manufacture, use, offer for sale, sell or import any D-GHB Compound. 

(c) Exclusivity. If a Change of Control of Concert occurs and Jazz subsequently brings to Concert’s attention any research,
development, manufacture or commercialization activities [**] wherein Jazz believes that such activities may violate the exclusivity obligations set forth in Section 2.3, then Concert shall respond promptly to Jazz’s inquiry. If Concert
responds to Jazz’s inquiry by asserting that the activities are permitted pursuant to the proviso in the penultimate sentence of Section 2.3 and Jazz is not satisfied with Concert’s response, then at Jazz’s request the Parties
shall pick a mutually acceptable independent Third Party expert with appropriate qualifications and experience in pharmaceutical research, development, manufacture or commercialization (as applicable) to evaluate evidence presented by Concert
pursuant to this Section 12.11(c) [**]. If the Parties fail to agree upon an expert within [**] Business Days after Jazz’s request, then each Party shall select an independent Third Party individual with appropriate qualifications and
experience in pharmaceutical research, development, manufacture or commercialization (as applicable), and the two selected individuals shall select an expert, with comparable independence, qualifications and experience, within [**] Business Days of
selection of the two individuals. Concert shall promptly submit to the independent Third Party expert appointed pursuant to this Section 12.11(c) evidence as to whether the exclusions set forth in parts (A) and (B) of the proviso in
the penultimate sentence of Section 2.3 apply with respect to such activities; Concert shall supply such evidence in good faith, and shall not provide evidence that is, or is presented in a manner that is, inaccurate or misleading. [**].
Concert shall not omit any material evidence as to whether the exclusions set forth in parts (A) and (B) of the proviso in the penultimate sentence of Section 2.3 apply with respect to such activities. The Third Party expert shall
evaluate such evidence and determine within [**] Business Days of such submission whether such exclusions apply to such activities and shall inform both Parties of his or her determination, which shall be binding on the Parties with respect to such
activities to the extent performed prior to the date of such determination. The Parties shall share equally the costs of such expert. 
 ARTICLE 13 
 MISCELLANEOUS 

13.1 Entire Agreement; Amendment. This Agreement, including the Exhibits hereto, sets forth the complete, final and exclusive
agreement and all the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto with respect to the subject matter hereof and supersedes, as of the Effective Date, all prior and
contemporaneous agreements and understandings between the Parties with respect to the subject matter hereof, including the Confidentiality Agreement and the Feasibility Agreement; provided that the provisions of the Feasibility Agreement specified
therein as surviving termination thereof shall remain in effect, except for Section 6, which is hereby terminated. The foregoing shall not be interpreted as a waiver of any remedies available to either Party as a result of any breach, prior to
the Effective Date, by the other Party of its obligations under the Confidentiality Agreement or the Feasibility Agreement. There are no covenants, promises, agreements, warranties, 

  
 50.

 
representations, conditions or understandings, either oral or written, between the Parties other than as are set forth in this Agreement. No subsequent alteration, amendment, change or addition
to this Agreement shall be binding upon the Parties unless reduced to writing and signed by an authorized officer of each Party. 
 13.2 Rights in Bankruptcy. 
 (a) All rights and licenses granted
under or pursuant to this Agreement by one Party to the other are, for all purposes of Title 11 of the United States Code (“Title 11”), licenses of rights to “intellectual property” as defined in Title 11, and, in the
event that a case under Title 11 is commenced by or against either Party (the “Bankrupt Party”), the other Party shall have all of the rights set forth in Section 365(n) of Title 11 to the maximum extent permitted thereby.
During the Term, each Party shall create and maintain current copies to the extent practicable of all such intellectual property. Without limiting the Parties’ rights under Section 365(n) of Title 11, if a case under Title 11 is commenced
by or against the Bankrupt Party, the other Party shall be entitled to a copy of any and all such intellectual property and all embodiments of such intellectual property, and the same, if not in the possession of such other Party, shall be promptly
delivered to it (i) before this Agreement is rejected by or on behalf of the Bankrupt Party, within thirty (30) days after the other Party’s written request, unless the Bankrupt Party, or its trustee or receiver, elects within thirty
(30) days to continue to perform all of its obligations under this Agreement, or (ii) after any rejection of this Agreement by or on behalf of the Bankrupt Party, if not previously delivered as provided under clause (i) above. All
rights of the Parties under this Section 13.2 and under Section 365(n) of Title 11 are in addition to and not in substitution of any and all other rights, powers, and remedies that each party may have under this Agreement, Title 11, and
any other applicable Laws. The non-Bankrupt Party shall have the right to perform the obligations of the Bankrupt Party hereunder with respect to such intellectual property, but neither such provision nor such performance by the non-Bankrupt Party
shall release the Bankrupt Party from any such obligation or liability for failing to perform it. 
 (b) The
Parties agree that they intend the foregoing non-Bankrupt Party rights to extend to the maximum extent permitted by law and any provisions of applicable contracts with Third Parties, including for purposes of Title 11, (i) the right of access
to any intellectual property (including all embodiments thereof) of the Bankrupt Party or any Third Party with whom the Bankrupt Party contracts to perform an obligation of the Bankrupt Party under this Agreement, and, in the case of the Third
Party, which is necessary for the Development, Regulatory Approval and manufacture of Licensed Products and (ii) the right to contract directly with any Third Party described in (i) in this sentence to complete the contracted work.

 (c) Any intellectual property provided pursuant to the provisions of this Section 13.2 shall be subject to
the licenses set forth elsewhere in this Agreement and the payment obligations of this Agreement, which shall be deemed to be royalties for purposes of Title 11. 
 (d) Notwithstanding anything to the contrary in Article 7, in the event that Concert is the Bankrupt Party and is no longer performing its applicable obligations under Article 7, Jazz may take
appropriate actions in connection with the filing, prosecution, maintenance and enforcement of any Licensed Patent licensed to Jazz under this Agreement without being required to consult with Concert before taking any such actions, provided that
such actions are consistent with this Agreement. 

  
 51.

 13.3 Force Majeure. Both Parties shall be excused from the performance of their
obligations under this Agreement to the extent that such performance is prevented by force majeure and the nonperforming Party promptly provides notice of the prevention to the other Party. Such excuse shall be continued so long as the condition
constituting force majeure continues and the nonperforming Party takes reasonable efforts to remove the condition. For purposes of this Agreement, force majeure shall include conditions beyond the control of the Parties, including an act of God,
war, civil commotion, terrorist act, labor strike or lock-out, epidemic, failure or default of public utilities or common carriers, destruction of production facilities or materials by fire, earthquake, storm or like catastrophe, and failure of
plant or machinery (provided that such failure could not have been prevented by the exercise of skill, diligence, and prudence that would be reasonably and ordinarily expected from a skilled and experienced person engaged in the same type of
undertaking under the same or similar circumstances). Notwithstanding the foregoing, a Party shall not be excused from making payments owed hereunder because of a force majeure affecting such Party. If a force majeure persists for more than ninety
(90) days, then the Parties will discuss in good faith the modification of the Parties’ obligations under this Agreement in order to mitigate the delays caused by such force majeure. 

13.4 Notices. Any notice required or permitted to be given under this Agreement shall be in writing, shall specifically refer to
this Agreement, and shall be addressed to the appropriate Party at the address specified below or such other address as may be specified by such Party in writing in accordance with this Section 13.4, and shall be deemed to have been given for
all purposes (a) when received, if hand-delivered or sent by confirmed facsimile or a reputable courier service, or (b) five (5) Business Days after mailing, if mailed by first class certified or registered airmail, postage prepaid,
return receipt requested. 
 If to Concert: 

Concert Pharmaceuticals, Inc. 
 99 Hayden Avenue, Suite 500 
 Lexington, Massachusetts 02421

 USA 
 Attn.: Chief Executive Officer 
 Facsimile: 1.781.674.5309

 With a copy (which shall not constitute notice) to: 

WilmerHale LLP 
 60 State Street 
 Boston, MA 02109 

Attention: Steven D. Barrett, Esq. 

Telephone: (617) 526-6000 
 Facsimile: (617) 526-5000 

  
 52.

 If to Jazz: 

Jazz Pharmaceuticals Ireland Limited 

Fourth Floor, Connaught House 
 One Burlington Road, Dublin 4 
 Ireland 

Attention: Fintan Keegan, Director 

Facsimile: +353.1.634.7850 
 With a copy to (which shall not constitute notice): 
 Jazz
Pharmaceuticals, Inc. 
 3180 Porter Drive 

Palo Alto, California 94304 
 USA 
 Attn: General Counsel 

And a copy to (which shall not constitute notice): 

Cooley LLP 
 3175 Hanover Street 
 Palo Alto, California 94304 

USA 
 Attn: Marya A. Postner 
 Fax: 650-849-7400 

13.5 No Strict Construction; Headings. This Agreement has been prepared jointly by the Parties and shall not be strictly construed
against either Party. Ambiguities, if any, in this Agreement shall not be construed against any Party, irrespective of which Party may be deemed to have authored the ambiguous provision. The headings of each Article and Section in this Agreement
have been inserted for convenience of reference only and are not intended to limit or expand on the meaning of the language contained in the particular Article or Section. Except where expressly stated otherwise in this Agreement, the following
rules of interpretation apply to this Agreement: (i) “include”, “includes” and “including” are not limiting and mean include, includes and including, without limitation; (ii) definitions contained in this
Agreement are applicable to the singular as well as the plural forms of such terms; (iii) references to an agreement, statute or instrument mean such agreement, statute or instrument as from time to time amended, modified or supplemented;
(iv) references to a person or entity are also to its permitted successors and assigns; (v) the use of any gender shall be applicable to all genders; (vi) the word “will” shall be construed to have the same meaning and
effect as the word “shall” and vice versa; (vii) the word “any” shall mean “any and all” unless otherwise indicated by context; and (viii) the word “or” means in the alternative or together, i.e.,
“and/or”. 
 13.6 Assignment. Neither Party may assign or transfer this Agreement or any rights or
obligations hereunder without the prior written consent of the other, except that a Party may make such an assignment or transfer without the other Party’s consent to its Affiliates or to a Third Party successor to substantially all of the
business of such Party to which this Agreement relates,  

  
 53.

 
whether in a merger, sale of stock, sale of assets or other transaction. Any successor or assignee of rights and/or obligations permitted hereunder shall, in writing to the other Party,
expressly assume performance of such rights and/or obligations. Any permitted assignment shall be binding on the successors of the assigning Party. Any assignment or attempted assignment by either Party in violation of the terms of this
Section 13.6 shall be null, void and of no legal effect. 
 13.7 Change of Control of Concert. Within [**]
after the effectiveness of a Change of Control of Concert, Concert shall notify Jazz in writing of the occurrence of such Change of Control and shall identify its Acquiror and, to the extent not prohibited by confidentiality obligation, shall answer
Jazz’s reasonable questions regarding such Change of Control. Following the effectiveness of a Change of Control of Concert, Jazz shall have the right (but not the obligation), to disband one or both of the JPC and the JSC, effective upon
written notice to Concert (or on such later date as specified in such notice). Upon effectiveness of such disbanding of the JSC, Jazz shall have the right to make all decisions previously within the purview of the JSC at its sole discretion, without
any obligation to consult with Concert, except that Jazz shall not have the right to amend the Development Plan in a manner that would have been restricted pursuant to Section 3.1(d) if the JSC had not been disbanded. Upon effectiveness of such
disbanding of the JPC, Jazz shall have the right to control the preparation, filing, prosecution and maintenance of the Licensed Patents that are not Platform Licensed Patents and references in this Agreement to the JPC with respect to such Licensed
Patents shall thereafter be deemed to be references to Jazz; provided that (a) Jazz shall use the same patent counsel that is then being used by the Parties in connection with such activities, unless Jazz has a reasonable basis for changing
patent counsel (including competence, cost or conflict), (b) Concert shall have the right to review and comment on such efforts and to assume the prosecution and maintenance of any such Licensed Patents that Jazz decides to abandon,
(c) Jazz shall take reasonable steps to prosecute and maintain such Licensed Patents, subject to applicable Laws, and (d) Jazz shall not narrow the scope of any claims in such Licensed Patents for the sole purpose of reducing Jazz’s
royalty payments to Concert under Section 6.5. Upon effectiveness of such disbanding of the JPC, any decisions previously within the purview of the JPC that pertain to a Platform Licensed Patent shall be made by Concert, and references in this
Agreement to the JPC with respect to such Platform Licensed Patents shall thereafter be deemed to be references to Concert; provided that (1) such decisions shall be implemented by patent counsel selected by Concert, (2) Jazz shall have
the right to review and comment on Concert’s preparation, filing, prosecution and maintenance of such Platform Licensed Patents, and Concert will provide all relevant and material documents to Jazz sufficiently in advance of any deadline such
that Jazz may reasonably exercise such comment right, (3) Concert shall reasonably consider all such comments provided by Jazz, and (4) to the extent that Concert disagrees with any such comments provided by Jazz with respect to any
matter, such matter will be decided by an independent Third Party expert in accordance with the terms of Section 3.2(d). 

13.8 Performance by Affiliates. Each Party may discharge any obligations and exercise any right hereunder through any of its
Affiliates. Each Party hereby guarantees the performance by its Affiliates of such Party’s obligations under this Agreement, and shall cause its Affiliates to comply with the provisions of this Agreement in connection with such performance. Any
breach by a Party’s Affiliate of any of such Party’s obligations under this Agreement shall be deemed a breach by such Party, and the other Party may proceed directly against such Party without any obligation to first proceed against such
Party’s Affiliate. 

  
 54.

 13.9 Further Actions. Each Party agrees to execute, acknowledge and deliver such
further instruments, and to do all such other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 
 13.10 Severability. If any one or more of the provisions of this Agreement is held to be invalid or unenforceable by any court of competent jurisdiction from which no appeal can be or is taken, the
provision shall be considered severed from this Agreement and shall not serve to invalidate any remaining provisions hereof. The Parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable
one such that the objectives contemplated by the Parties when entering this Agreement may be realized. 
 13.11 No
Waiver. Any delay in enforcing a Party’s rights under this Agreement or any waiver as to a particular default or other matter shall not constitute a waiver of such Party’s rights to the future enforcement of its rights under this
Agreement, except with respect to an express written and signed waiver relating to a particular matter for a particular period of time. 
 13.12 Independent Contractors. Each Party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give either Party the power or authority to act for,
bind, or commit the other Party in any way. Nothing herein shall be construed to create the relationship of partners, principal and agent, or joint-venture partners between the Parties. 

13.13 Counterparts. This Agreement may be executed in one (1) or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. 
 {Signature page follows} 

  
 55.

 In Witness Whereof, the Parties have executed this Development and License Agreement
by their duly authorized officers as of the Effective Date. 
  

									
	JAZZ PHARMACEUTICALS IRELAND LIMITED	 		 	CONCERT PHARMACEUTICALS, INC.
					
	By:	 	 /s/ Fintan Keegan
	 		 	By:	 	 /s/ Roger Tung

	Name:	 	 Fintan Keegan
	 		 	Name:	 	 Roger Tung

	Title:	 	 EVP TECH OPS
	 		 	Title:	 	 Chief Executive Officer

 Signature Page to Development and License Agreement 

 LIST OF EXHIBITS: 
  

			
	Exhibit A:	  	Licensed Patents as of the Effective Date
		
	Exhibit B:	  	Patent Countries
		
	Exhibit C:	  	Initial Development Plan
		
	Exhibit D:	  	Joint Press Release

 LIST OF SCHEDULES: 
 Schedule 1.25 D-GHB Compound 
 Schedule 1.47 Jazz Compound 

 Exhibit A 
 Licensed Patents as of the Effective Date 
 Title / Inventors: [**] 

 

									
	 Country
	  	 Application Number
	  	 Filing Date
	  	 Status
	  	 Attorney Docket #

	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
					
	 Title / Inventor: [**]
	  		  		  		  	
					
	 Country
	  	 Application Number
	  	 Filing Date
	  	 Status
	  	 Attorney Docket #

	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
	[**]	  	[**]	  	[**]	  	[**]	  	[**]
					
	 Title / Inventors: [**]
	  		  		  		  	
					
	 Country
	  	 Application Number
	  	 Filing Date
	  	 Status
	  	 Attorney Docket #

	[**]	  	[**]	  	[**]	  	[**]	  	[**]

 Exhibit B 
 Patent Countries 
 [**] 

 Exhibit C 
 Initial Development Plan 

 Exhibit C: Initial Development Plan for D-GHB (Updated Feb 2013) 

Timeline 
 [**] 

  

					
	1	  	CONFIDENTIAL	  	

 Timeline Key Assumptions: 
 Confidential Materials omitted and filed separately with the Securities and Exchange Commission. A total of three pages were omitted. [**] 

  

					
	2	  	CONFIDENTIAL	  	

 Estimated Budget FY13 
 Confidential Materials omitted and filed separately with the Securities and Exchange Commission. A total of two pages were omitted. [**] 

  

					
	3	  	CONFIDENTIAL	  	

 Exhibit D 
 Joint Press Release 
 NEWS RELEASE 

For Additional Information Contact: 

			
	 Jazz Pharmaceuticals

Kathee Littrell (Investors)
 + 1 650 496 2717
(US)
 + 353 1 634 7887 (Ireland)
	 	 Concert Pharmaceuticals
 Justine Koenigsberg (Investors)
 781-674-5284

ir@concertpharma.com

		
	 Ami Knoefler (Media)
 + 1 650
496 2947 (US)
 + 353 1 638 1032 (Ireland)
	 	 Kathryn Morris (Media)
 The
Yates Network
 845-635-9828

 DRAFT ** NOT FOR IMMEDIATE RELEASE * confidential 

Jazz Pharmaceuticals plc and Concert Pharmaceuticals Announce Worldwide 

Licensing Agreement to Develop and Commercialize Deuterium-Modified 

Sodium Oxybate 
 DUBLIN
and Lexington, MA (February 26, 2013) - Jazz Pharmaceuticals plc (Nasdaq: JAZZ) and Concert Pharmaceuticals, Inc. today announced an exclusive license agreement that provides Jazz Pharmaceuticals worldwide rights to develop and commercialize
Concert’s deuterium-modified sodium oxybate (D-SXB) compounds, including C-10323. 
 Sodium oxybate is the
active ingredient in Xyrem®, a prescription medicine marketed in the United States by Jazz Pharmaceuticals to
treat two of the key symptoms of narcolepsy, a serious neurological disorder that affects approximately 157,000 people in the United States. 

Under the agreement, Jazz Pharmaceuticals will have worldwide commercial rights to C-10323, as well as principal responsibility for ongoing development
activities. Concert will receive an upfront payment and is eligible to receive additional milestone payments as well as tiered royalties based on potential worldwide sales of any D-SXB products. 

“This collaboration reflects our deep commitment to patients with narcolepsy and to improving their care with safe and effective treatment
options,” said Jeffrey Tobias, MD, executive vice president of research and development and chief medical officer of Jazz Pharmaceuticals. “Our agreement with Concert on the D-SXB program provides an excellent opportunity for us to explore
the potential of deuterium technology in this important area. We look forward to advancing this program into clinical testing in order to further evaluate its potential to provide benefits for patients with narcolepsy.” 

“Preclinical data indicate that selective deuterium incorporation can stabilize sodium oxybate in vivo and we are eager to see how this improvement
in metabolic properties is reflected in the clinical performance of D-SXB,” said Roger Tung, Ph.D., president and chief executive officer of Concert Pharmaceuticals. “This collaboration with Jazz Pharmaceuticals allows us to progress our
deuterium-modified sodium oxybate program with a partner that has extensive development and commercial experience and is a leader in the narcolepsy field.” 

 Through Concert’s DCE Platform® (Deuterated Chemical Entity), Concert has developed a number
of deuterium-containing analogs of sodium oxybate. C-10323 has emerged as the lead compound based on in vivo preclinical testing that demonstrated prolonged pharmacokinetic profile and reduced variability as a result of its specific deuterium
modification pattern. The companies plan to submit an investigational new drug (IND) application for C-10323 later this year. 

About Jazz Pharmaceuticals 
 Jazz
Pharmaceuticals plc is a specialty biopharmaceutical company focused on improving patients’ lives by identifying, developing and commercializing innovative products that address unmet medical needs. The company has a diverse portfolio of
products in the areas of narcolepsy, oncology, pain and psychiatry. The company’s U.S. marketed products in these areas include: Xyrem® (sodium oxybate) oral solution, Erwinaze® (asparaginase Erwinia chrysanthemi), Prialt®
(ziconotide) intrathecal infusion, Luvox CR® (fluvoxamine maleate), FazaClo® (clozapine, USP) HD and FazaClo LD. Outside of the U.S., Jazz Pharmaceuticals also has a number of products marketed by its EUSA Pharma division. For further
information, see www.jazzpharmaceuticals.com. 
 About Concert Pharmaceuticals 

Concert Pharmaceuticals is a clinical stage biotechnology company focused on applying the company’s DCE Platform® (deuterated chemical entity
platform) to create novel and differentiated small molecule drugs. Concert’s approach leverages decades of pharmaceutical and clinical experience to reduce the time, risk and expense needed to create important new medicines. The company has a
broad research pipeline addressing renal disease, hematologic disorders, CNS disorders and other therapeutic areas. Founded in 2006, Concert has raised more than $110 million of venture and institutional capital. For more information on Concert
Pharmaceuticals, please visit www.concertpharma.com. 
 About Xyrem 

Xyrem® (sodium oxybate) oral solution is indicated for the treatment of cataplexy and excessive daytime sleepiness (EDS) in patients with narcolepsy
and may be dispensed only to patients enrolled in the Xyrem Success Program®. Xyrem is the only product approved by the FDA for the treatment of cataplexy and EDS in narcolepsy, a serious neurological disorder. Xyrem was first approved in the
U.S. in 2002. The Xyrem Success Program is a proprietary program to ensure the safe use of Xyrem and minimize the risk of abuse, misuse, and diversion of sodium oxybate. Xyrem is available only by prescription from physicians enrolled in the Xyrem
Success Program and is distributed through a single central pharmacy directly to patients. The labeling for Xyrem contains a boxed warning about CNS depression, abuse, and misuse. In controlled clinical trials, the most common adverse reactions seen
(incidence 3 5% and twice the rate seen with placebo) in Xyrem-treated patients were nausea, dizziness, vomiting, somnolence, enuresis, and tremor. 

 “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995

 This press release contains forward-looking statements, including, but not limited to, statements related to Jazz
Pharmaceuticals’ future exploration of the deuterium-modified sodium oxybate (D-SXB) technology and development of D-SXB compounds, including C-10323, the future clinical testing of D-SXB to evaluate the compounds’ therapeutic and
commercial potential, and the plan to submit an investigational new drug application for C-10323. These forward-looking statements are based on Jazz Pharmaceuticals’ current expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties
associated with the timing and results of the exploration of the D-SXB technology; the companies’ ability to file an IND for C-10323 as currently contemplated; the uncertainty of clinical success and therapeutic value of D-SXB compounds,
including C-10323; the uncertainty of regulatory approval; the difficulty in integrating the D-SXB products into the company’s product portfolio and the possibility that the company may fail to realize the anticipated benefits (commercial or
otherwise) from this license; and those risks with respect to research and development and clinical trials detailed from time-to-time under the caption “Risk Factors” and elsewhere in Jazz Pharmaceuticals’ Securities and Exchange
Commission filings and reports (Commission File No. 001-33500), including in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2012 and future filings and reports by the company, including the Annual Report on Form 10-K
for the year ended December 31, 2012. Jazz Pharmaceuticals undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

 Concert Pharmaceuticals Inc., the CoNCERT Pharmaceuticals Inc. logo and DCE Platform are registered trademarks of Concert Pharmaceuticals,
Inc. 
 # # # 

 SCHEDULE 1.25 
 D-GHB COMPOUND 
 “D-GHB Compound” means any and all forms of (a) the compound
having the structure of gamma-hydroxybutyrate, which is illustrated below, (b) [**] or (c) any salt, free acid or base, solvate, ester, hydrate, or anhydrous form of any of the foregoing, in each case wherein for a typical sample of such
compound, the abundance of deuterium at one or more of the hydrogen atoms thereof is greater than the natural abundance of deuterium. 
  

 
 A D-GHB Compound also includes any solid forms, including crystalline or amorphous forms, co-crystals and polymorphs
of any of the foregoing. 

 SCHEDULE 1.47 
 JAZZ COMPOUND 
 “Jazz Compound” means any and all forms of (a) the compound having
the structure of gamma-hydroxybutyrate, which is illustrated below, (b) [**] or (c) any salt, free acid or base, solvate, ester, hydrate, or anhydrous form of any of the foregoing, in each case wherein for a typical sample of such
compound, (i) the abundance of deuterium at each of the hydrogen atoms thereof is not greater than the natural abundance of deuterium and (ii) the abundance of one or more isotopes of carbon or oxygen at one or more of the carbon atoms or
oxygen atoms, respectively, thereof may be less than, the same as, or greater than, the natural abundance of such isotopes. 
  

 
 A Jazz Compound also includes any solid forms, including crystalline or amorphous forms, co-crystals and polymorphs of
any of the foregoing.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00225-of-00352.parquet"}]]