Document:

EX-10.14

 Exhibit 10.14 

Office Lease 
 METRO CENTER

 METRO CENTER TOWER 

950 TOWER LANE 
 FOSTER
CITY, CALIFORNIA 
 Between 

HUDSON METRO CENTER, LLC, a Delaware limited liability company 

as Landlord, 
 and 

MIRUM PHARMACEUTICALS, INC., a Delaware corporation 

as Tenant 

 OFFICE LEASE 

This Office Lease (this “Lease”), dated as of the date set forth in Section 1.1, is made by
and between HUDSON METRO CENTER, LLC, a Delaware limited liability company (“Landlord”), and MIRUM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”). The following exhibits are
incorporated herein and made a part hereof: Exhibit A (Outline of Premises); Exhibit B (Work Letter); Exhibit B-1 (Approved Space Plan); Exhibit C
(Form of Confirmation Letter); Exhibit D (Rules and Regulations); Exhibit E (Judicial Reference); Exhibit F (Additional Provisions); and Exhibit
F-1 (Temporary Space). 
 1 BASIC LEASE INFORMATION 

 

									
		 	 1.1
	  	Date:	  	January 22, 2019
				
		 	 1.2
	  	Premises.	  	
					
		 		  	1.2.1	 	“Building”:	  	950 Tower Lane, Foster City, California commonly known as Metro Center Tower.
					
		 		  	1.2.1	 	“Premises”:	  	5,599 rentable square feet of space located on the 10th floor of the Building and commonly known as Suite 1000, the outline and location of which is set forth in Exhibit A. If the Premises include any floor in its
entirety, all corridors and restroom facilities located on such floor shall be considered part of the Premises.
					
		 		  	1.2.3	 	“Property”:	  	The Building, the parcel(s) of land upon which it is located, and, at Landlord’s discretion, any parking facilities and other improvements serving the Building and the parcel(s) of land upon which such parking facilities and
other improvements are located.
					
		 		  	1.2.4	 	“Project”:	  	The Property or, at Landlord’s discretion, any project containing the Property and any other land, buildings or other improvements.
					
		 	 1.3
	  	Term:	 		  	
					
		 		  	1.3.1	 	Term:	  	The term of this Lease (the “Term”) shall begin on the Commencement Date and expire on the Expiration Date (or any earlier date on which this Lease is terminated as provided herein).
					
		 		  	1.3.2	 	“Commencement Date”:	  	The earlier of (i) the first date on which Tenant conducts business in the Premises, or (ii) the later of (a) date that is 10 business days (such 10 business days being the “Early Entry Period”)
after the Tenant Improvement Work (defined in Exhibit B) is Substantially Complete (defined in Exhibit B), which Substantial Completion date is anticipated to be May 1, 2019 and (b) May 1, 2019. During the
Early Entry Period, Tenant may enter the Premises solely for the purpose of installing telecommunications and data cabling, equipment, furnishings and other personal prope1ty in the Premises. Other than the obligation to pay Monthly Rent (defined
below), all of Tenant’s obligations hereunder shall apply during such Early Entry Pe1iod.
					
		 		  	1.3.3	 	“Expiration Date”:	  	The last day of the 48th full calendar month beginning on the Commencement Date; provided, however, that if the Commencement Date is not the first day of a month, then the Expiration Date shall be the last day of the 48th full
calendar month beginning immediately after the Commencement Date.

  
 1 

							
		  	 1.4
	  	“Base Rent”:

  

									
	 	  	 Period During

      Term
	  	 Annual Base Rent

Per Rentable
 Square
Foot
 (rounded to the

nearest 100th of a

dollar)
	  	 Monthly Base Rent

Per Rentable
 Square
Foot
 (rounded to the

nearest 100th of a

dollar)
	  	 Monthly

Installment of Base

Rent

		  	Commencement Date through last day of 12th full calendar month of Term	  	$70.20	  	$5.85	  	$32,754.15
		  	13th through 24th full calendar months of Term	  	$72.31	  	$6.03	  	$33,736.77
		  	25th through 36th full calendar months of Term	  	$74.48	  	$6.21	  	$34,748.88
		  	37th full calendar month of term through Expiration Date	  	$76.71	  	$6.39	  	$35,791.34

 Notwithstanding the foregoing, Base Rent shall be abated, in the amount of $32,754.15 per month, for the first two
(2) full calendar months of the Term; provided, however, that if a Default (defined in Section 19.1) exists when any such abatement would otherwise apply, such abatement shall be deferred until the date, if any, on
which such Default is cured. 
  

							
		  	1.5	  	“Base Year” for Expenses:	  	Calendar year 2019.
				
		  		  	“Base Year” for Taxes:	  	Calendar year 2019.
				
		  	1.6	  	“Tenant’s Share”:	  	1.3663% (based upon a total of 409,802 rentable square feet in the Building).
				
		  	1.7	  	“Permitted Use”:	  	General office use consistent with a first-class office building.
				
		  	1.8	  	“Security Deposit”:	  	$71,582.68 as more particularly described in Section 21.
				
		  		  	Prepaid Base Rent	  	$32,754.15 as more particularly described in Section 3.
				
		  	1.9	  	Parking:	  	18 unreserved parking spaces, at the rate of $0.00 per space per month.
				
		  	1.10	  	Address of Tenant:	  	 Before the Commencement Date:
  

Mirum Pharmaceuticals, Inc.
 12230 El Camino Real, Suite 230

San Diego, CA 92310
  

From and after the Commencement Date: the Premises.

				
		  	1.11	  	Address of Landlord:	  	 Hudson Metro Center, LLC
 c/o Judson Pacific
Properties
 950 Tower Lane, Suite 1800
 Foster City, California
94404
 Attn: Building manager
  

with copies to:
  

Hudson Metro Center, LLC
 c/o Hudson Pacific Properties

950 Tower Lane, Suite 1800
 Foster City, California 94404

Attn: Managing Counsel

  
 2 

							
		  		  		  	 and
  

Hudson Metro Center, LLC
 c/o Hudson Pacific Properties

11601 Wilshire Boulevard, Suite 900
 Los Angeles, California
90025
 Attn: Lease Administration
  

				
		  	 1.12
	  	Broker(s);	  	Jones Lang LaSalle (“Tenant’s Broker”), representing Tenant, and Cushman & Wakefield (“Landlord’s Broker”), representing Landlord.
				
		  	 1.13
	  	Building HVAC Hours and Holidays:	  	“Building HVAC Hours” means 8:00 a.m. to 6:00 p.m., Monday through Friday, excluding the day of observation of New Year’s Day, Presidents Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day,
Christmas Day, and, at Landlord’s discretion, any other locally or nationally recognized holiday that is observed by other Comparable Buildings (defined in Section 25.10) (collectively, “Holidays”).
				
		  	 1.14
	  	“Tenant Improvements”:	  	Defined in Exhibit B, if any.
				
		  	 1.15
	  	“Guarantor”:	  	None.

 2 PREMISES AND COMMON AREAS. 

2.1 The Premises. 

2.1.1 Subject to the terms hereof, Landlord hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. Landlord
and Tenant acknowledge that the rentable square footage of the Premises is as set forth in Section 1.2.2 and the rentable square footage of the Building is as set forth in Section 1.6. At any time Landlord may deliver to
Tenant a notice substantially in the form of Exhibit C, as a confirmation of the information set fo1th therein. Tenant shall execute and return (or, by notice to Landlord, reasonably object to) such notice within five (5) business
days after receiving it, and if Tenant fails to do so, Tenant shall be deemed to have executed and returned it without exception. 
 2.1.2
Except as expressly provided herein (including, without limitation, as set forth in Exhibit B hereto), the Premises are accepted by Tenant in their configuration and condition existing on the date hereof, without any obligation of
Landlord to perform or pay for any alterations to the Premises, and without any representation or warranty regarding the configuration or condition of the Premises, the Building or the Project or their suitability for Tenant’s business. Nothing
in this Section 2.1.2 shall limit Landlord’s obligations under Section 7.1. 
 2.2 Common Areas.
Tenant may use, in common with Landlord and other parties and subject to the Rules and Regulations (defined in Exhibit D), any portions of the Property that are designated from time to time by Landlord for such use (the
“Common Areas”). 
 3 RENT. Tenant shall pay all Base Rent and Additional Rent (defined below) (collectively,
“Rent”) to Landlord or Landlord’s agent, without prior notice or demand or any setoff or deduction (except as expressly set fo1th herein), at the place Landlord may designate from time to time, in money of the United
States of America that, at the time of payment, is legal tender for the payment of all obligations. As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder.
Monthly payments of Base Rent and monthly payments of Additional Rent for Expenses (defined in Section 4.2.2), Taxes (defined in Section 4.2.3) and parking (collectively, “Monthly Rent”) shall be paid
in advance on or before the first day of each calendar month during the Term; provided, however, that the installment of Base Rent for the first full calendar month for which Base Rent is payable hereunder shall be paid upon Tenant’s execution
and delivery hereof. Except as otherwise provided herein, all other items of Additional Rent shall be paid within 30 days after Landlord’s request for payment. Rent for any partial calendar month shall be prorated based on the actual number of
days in such month. Without limiting Landlord’s other rights or remedies, (a) if any installment of Rent is not received by Landlord or its designee within five (5) business days after its due date, Tenant shall pay Landlord a late
charge equal to 5% of the overdue amount; and (b) any Rent that is not paid within IO days after its due date shall bear interest, from its due date until paid, at the lesser of 18% per annum or the highest rate permitted by Law (defined in
Section 5). Tenant’s covenant to pay Rent is independent of every other covenant herein. 

  
 3 

 4 EXPENSES AND TAXES. 

4.1 General Terms. In addition to Base Rent, Tenant shall pay, in accordance with Section 4.4, for each Expense Year
(defined in Section 4.2.1), an amount equal to the sum of (a) Tenant’s Share of any amount (the “Expense Excess”) by which Expenses for such Expense Year exceed Expenses for the Base Year, plus
(b) Tenant’s Share of any amount (the “Tax Excess”) by which Taxes for such Expense Year exceed Taxes for the Base Year. No decrease in Expenses or Taxes for any Expense Year below the corresponding amount for the
Base Year shall entitle Tenant to any decrease in Base Rent or any credit against amounts due hereunder. Tenant’s Share of the Expense Excess and Tenant’s Share of the Tax Excess for any partial Expense Year shall be prorated based on the
number of days in such Expense Year. 
 4.2 Definitions. As used herein, the following terms have the following
meanings: 
 4.2.1 “Expense Year” means each calendar year (other than the Base Year and any preceding calendar year)
in which any portion of the Term occurs. 
 4.2.2 “Expenses” means all expenses, costs and amounts that Landlord
pays or accrues during the Base Year or any Expense Year because of or in connection with the ownership, management, maintenance, security, repair replacement, restoration or operation of the Property. Landlord shall act in a reasonable manner in
incurring Expenses. Without limiting the preceding sentence, Landlord shall not “double-count” any amount as an Expense or add a “mark-up” to any Expense; provided, however, that this
sentence shall not limit (a) Landlord’s right to include a management fee in Expenses pursuant to clause (vi) of the next succeeding sentence, or (b) the penultimate paragraph of this Section 4.2.2. Expenses shall
include (i) the cost of supplying all utilities, the cost of operating, repairing, maintaining and renovating the utility, telephone, mechanical, sanitary, storm-drainage, and elevator systems, and the cost of maintenance and service contracts
in connection therewith; (ii) the cost of licenses, certificates, permits and inspections, the cost of contesting any Laws that may affect Expenses, and the costs of complying with any governmentally-mandated transportation-management or
similar program; (iii) the cost of all insurance premiums and deductibles (provided, however, that earthquake insurance deductibles shall not exceed 5.0% of the total insurable value of the Project per occurrence and any other insurance
deductibles shall not exceed $100,000.00 per occurrence); (iv) the cost of landscaping and relamping; (v) the cost of parking-area operation, repair, restoration, and maintenance; (vi) a management fee in the amount (which fee may be
imputed if Landlord has internalized management or otherwise acts as its own property manager and which fee is hereby acknowledged to be reasonable) of 3% of gross annual receipts from the Property (excluding the management fee), together with other
fees and costs, including consulting fees, legal fees and accounting fees, of all contractors and consultants in connection with the management, operation, maintenance and repair of the Property; (vii) the fair rental value of any management
office space; (viii) wages, salaries and other compensation, expenses and benefits, including taxes levied thereon, of all persons engaged in the operation, maintenance and security of the Property, and costs of training, uniforms, and employee
enrichment for such persons; (ix) the costs of operation, repair, maintenance and replacement of all systems and equipment (and components thereof) of the Property; (x) the cost of janitorial, alarm, security and other services,
replacement of wall and floor coverings, ceiling tiles and fixtures in Common Areas, maintenance and replacement of curbs and walkways, repair to roofs and re-roofing; (xi) rental or acquisition costs of
supplies, tools, equipment, materials and personal property used in the maintenance, operation and repair of the Property; (xii) the cost of capital improvements or any other items that are (A) intended to reduce current or future
Expenses, enhance the safety or security of the Property or its occupants, or enhance the environmental sustainability of the Property’s operations, (B) replacements or modifications of the nonstructural portions of the Base Building
(defined in Section 5) or Common Areas that are required to keep the Base Building or Common Areas in good condition, or (C) required under any Law; (xiii) the cost of tenant-relation programs reasonably established by
Landlord; and (xiv) payments under any existing or future reciprocal easement agreement, transportation management agreement, cost-sharing agreement or other covenant, condition, restriction or similar instrument affecting the Property. 

Notwithstanding the foregoing, Expenses shall not include: (a) capital expenditures not described in clauses (xi) or (xii) above (in
addition, any capital expenditure shall be included in Expenses only if paid or accrued after the Base Year and shall be amortized (including actual or imputed interest on the amortized cost) over the lesser of (i) the useful life of the item
purchased through such capital expenditure, as reasonably determined by Landlord, or (ii) the period of time that Landlord reasonably estimates will be required for any Expense savings resulting from such capital expenditure to equal such
capital expenditure; provided, however, that any capital expenditure that is included in Expenses solely on the grounds that it is intended to reduce current or future Expenses shall be so amortized over the period of time described in the preceding
clause (ii)); (b) depreciation; (c) interest and principal payments of mortgage or other non-operating debts of Landlord; (d) costs of repairs to the extent Landlord is reimbursed by insurance or
condemnation proceeds; (e) except as provided in 

  
 4 

 
clause (xiii) above, costs of leasing space in the Building, including brokerage commissions, lease concessions, rental abatements and construction allowances granted to specific tenants;
(f) costs of selling, financing or refinancing the Building; (g) fines, penalties or interest resulting from late payment of Taxes or Expenses; (h) organizational expenses of creating or operating the entity that constitutes Landlord;
(i) damages paid to Tenant hereunder or to other tenants of the Building under their respective leases; (j) amounts (other than management fees) (on an arm’s length competitive basis) paid to Landlord’s affiliates for services,
but only to the extent such amounts exceed the prices charged for such services by parties having similar skill and experience; (k) fines or penalties resulting from any violations of Law, negligence or willful misconduct of Landlord or its
employees, agents or contractors; (I) advertising and promotional expenses; (m) Landlord’s charitable and political contributions; (n) ground lease rental; (o) attorney’s fees and other expenses incurred in connection
with negotiations or disputes with tenants or other occupants of the Building; (p) costs of services or benefits made available to other tenants of the Building but not to Tenant; (q) costs of purchasing or leasing major sculptures,
paintings or other artwork (as opposed to decorations purchased or leased by Landlord for display in the Common Areas of the Building); (r) any expense for which Landlord has received actual reimbursement from a third party (other than from a tenant
of the Building pursuant to its lease); (s) costs of curing defects in design or original construction of the Property; (t) costs that Landlord is entitled to recover under a warranty, except to the extent it would not be fiscally prudent to
pursue legal action to recover such costs; (u) expenses (other than Parking Expenses (defined below)) of operating any commercial concession at the Project; (v) Parking Expenses (defined below), except to the extent Parking Expenses exceed
parking revenues on an annual basis (as used herein, “Parking Expenses” means costs of operating, maintaining and repairing the Parking Facility, including costs of parking equipment, tickets, supplies, signs, cleaning,
resurfacing, restriping, parking-garage management fees, and the wages, salaries, employee benefits and taxes for individuals working exclusively in the Parking Facility; provided, however, that Parking Expenses shall exclude (i) capital
expenses, and (ii) costs of electricity, janitorial service, elevator maintenance and insurance); (w) reserves; (x) bad debt expenses; (y) costs of cleaning up Hazardous Materials, except for routine cleanup performed as part of the
ordinary operation and maintenance of the Property (as used herein, “Hazardous Materials” means any material now or hereafter defined or regulated by any Law or governmental authority as radioactive, toxic, hazardous, or
waste, or a chemical known to the state of California to cause cancer or reproductive toxicity, including (1) petroleum and any of its constituents or byproducts, (2) radioactive materials, (3) asbestos in any form or condition, and
(4) materials regulated by any of the following, as amended from time to time, and any rules promulgated thereunder: the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. §§9601 et seq.; the
Resource Conservation and Recovery Act, 42 U.S.C. §§6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. §§2601, et seq.; the Clean Water Act, 33 U.S.C. §§1251 et seq; the Clean Air Act, 42 U.S.C. §§7401
et seq.; The California Health and Safety Code; The California Water Code; The California Labor Code; The California Public Resources Code; and The California Fish and Game Code.); or (z) wages, salaries, fees or fringe benefits (“Labor
Costs”) paid to executive personnel or officers or partners of Landlord (provided, however, that if such individuals provide services directly related to the operation, maintenance or ownership of the Property that, if provided
directly by a general manager or property manager or his or her general support staff, would normally be chargeable as an operating expense of a comparable office building, then the Labor Costs of such individuals may be included in Expenses to the
extent of the percentage of their time that is spent providing such services to the Property). 
 If, during any portion of the Base Year or
any Expense Year, the Building is not 100% occupied (or a service provided by Landlord to Tenant is not provided by Landlord to a tenant that provides such service itself, or any tenant of the Building is entitled to free rent, rent abatement or the
like), Expenses for such year shall be determined as if the Building had been 100% occupied (and all services provided by Landlord to Tenant had been provided by Landlord to all tenants, and no tenant of the Building had been entitled to free rent,
rent abatement or the like) during such portion of such year. Notwithstanding any contrary provision hereof, Expenses for the Base Year shall exclude (a) any market-wide cost increases resulting from extraordinary circumstances, including Force
Majeure (defined in Section 25.2), boycotts, strikes, conservation surcharges, embargoes or shortages, and (b) at Landlord’s option, the cost of any repair or replacement that Landlord reasonably expects will not recur on an annual
or more frequent basis. 
 If Landlord does not carry earthquake, terrorism or another type of insurance for the Building during the Base
Year but carries such type of insurance for the Building during any Expense Year, then, for purposes of determining the Expense Excess for such Expense Year, Expenses for the Base Year shall be deemed to be increased by the amount of the premium
Landlord would have incurred for such type of insurance during the Base Year if Landlord had maintained such type of insurance for the same period of time during the Base Year as such insurance is maintained by Landlord during such Expense Year
(which shall be the amount incurred for such expense for the first year such expense is incurred if the Base Year amount cannot be reasonably determined). If, in any Expense Year, Landlord provides a new type of service (as opposed to an expansion
in scope of a service or a change in a type of service) that (i) is not required by Law, (ii) is not then generally provided by the landlords of Comparable Buildings (defined in Section 25.10), (iii) is not then
being provided in order to enhance the health, safety 

  
 5 

 
or security of the tenants, occupants and users of the Building as a result of circumstances that Landlord reasonably believes are specific to the Building and do not exist at Comparable
Buildings, and (iv) was not provided by Landlord during the Base Year, then, for purposes of determining the Expense Excess for such Expense Year, Expenses for the Base Year shall be deemed to be increased by the amount that Landlord would have
incurred for such service during the Base Year if Landlord had provided such service for the same period of time during the Base Year as such service is provided by Landlord during such Expense Year (which shall be the amount incurred for such
expense for the first year such expense is incurred if the Base Year amount cannot be reasonably determined). 
 4.2.3
“Taxes” means all federal, state, county or local governmental or municipal taxes, fees, charges, assessments, levies, licenses or other impositions, whether general, special, ordinary or extraordinary, that are paid or
accrued during the Base Year or any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing or operation of the Property. Taxes shall include
(a) real estate taxes; (b) general and special assessments; (c) transit taxes; (d) leasehold taxes; (e) personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems, appurtenances, furniture
and other personal property used in connection with the Property; (f) any tax on the rent, right to rent or other receipts from any portion of the Property or as against the business of leasing any portion of the Property; (g) any
assessment, tax, fee, levy or charge imposed by any governmental agency, or by any non-governmental entity pursuant to any private cost-sharing agreement, in order to fund the provision or enhancement of any
fire-protection, street-, sidewalk- or road-maintenance, refuse-removal or other service that is (or, before the enactment of Proposition 13, was) normally provided by governmental agencies to property owners or occupants without charge (other than
through real property taxes); and (h) payments in lieu of taxes under any tax increment financing agreement, abatement agreement, agreement to construct improvements, or other agreement with any governmental body or agency or taxing authority.
Any costs and expenses (including reasonable attorneys’ and consultants’ fees) incurred in attempting to protest, reduce or minimize Taxes shall be included in Taxes for the year in which they are incurred. Notwithstanding any contrary
provision here of, Taxes shall exclude (i) all excess profits taxes, franchise taxes, gift taxes, capital stock taxes, inheritance and succession taxes, transfer taxes, estate taxes, federal and state income taxes, and other taxes to the extent
(x) applicable to Landlord’s general or net income (as opposed to rents or receipts attributable to operations at the Prope1ty), or (y) measured solely by the square footage, rent, fees, services, tenant allowances or similar amounts,
rights or obligations described or provided in or under any particular lease, license or similar agreement or transaction at the Building; (ii) any Expenses, and (iii) any items required to be paid or reimbursed by Tenant under
Section 4.5. 
 4.3 Allocation. Landlord, in its reasonable discretion, may equitably allocate Expenses among
office, retail or other portions or occupants of the Property. If Landlord incurs Expenses or Taxes for the Property together with another property, Landlord, in its reasonable discretion, shall equitably allocate such shared amounts between the
Prope1ty and such other property. 
 4.4 Calculation and Payment of Expense Excess and Tax Excess. 

4.4.1 Statement of Actual Expenses and Taxes; Payment by Tenant. Landlord shall give to Tenant, after the end of each Expense Year, a
statement (the “Statement”) setting forth the actual Expenses, Taxes, Expense Excess and Tax Excess for such Expense Year. If the amount paid by Tenant for such Expense Year pursuant to Section 4.4.2 is less or
more than the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s Share of the actual Tax Excess (as such amounts are set forth in such Statement), Tenant shall pay Landlord the amount of such underpayment, or receive a credit
in the amount of such overpayment, with or against the Rent then or next due hereunder; provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount of such underpayment,
or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after delivery of such Statement. Any failure of Landlord to timely deliver the Statement for any Expense Year shall not diminish either party’s
rights under this Section 4. Notwithstanding the foregoing, if Landlord fails to furnish a Statement by April 30 of the second (2nd) calendar year following the Expense Year to which such Statement applies, Tenant shall not be
required to pay Landlord any underpayment for such Expense Year, except as provided in Section 4.4.3. 
 4.4.2 Statement of
Estimated Expenses and Taxes. Landlord shall give to Tenant, for each Expense Year, a statement (the “Estimate Statement”) setting forth Landlord’s reasonable estimates of the Expenses, Taxes, Expense Excess (the
“Estimated Expense Excess”) and Tax Excess (the “Estimated Tax Excess”) for such Expense Year. Upon receiving an Estimate Statement, Tenant shall pay, with its next installment of Base Rent corning due
at least 30 days after such receipt, an amount equal to the excess of (a) the amount obtained by multiplying (i) the sum of Tenant’s Share of the Estimated Expense Excess plus Tenant’s Share of the Estimated Tax Excess (as such
amounts are set forth in such Estimate Statement), by (ii) a fraction, the numerator of which is the number of months that have elapsed in the applicable Expense Year (including the month of such payment) and the

  
 6 

 
denominator of which is 12, over (b) any amount previously paid by Tenant for such Expense Year pursuant to this Section 4.4.2. Until Landlord delivers a new Estimate Statement
(which Landlord may do at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the sum of Tenant’s Share of the Estimated Expense Excess
plus Tenant’s Share of the Estimated Tax Excess, as such amounts are set fo1th in the previous Estimate Statement. Any failure of Landlord to timely deliver any Estimate Statement shall not diminish Landlord’s rights to receive payments
and revise any previous Estimate Statement under this Section 4. 
 4.4.3 Retroactive Adjustment of Taxes.
Notwithstanding any contrary provision hereof, if, after Landlord’s delivery of any Statement, an increase or decrease in Taxes occurs for the applicable Expense Year or for the Base Year (whether by reason of reassessment, error, or
otherwise), Taxes for such Expense Year or the Base Year, as the case may be, and the Tax Excess for such Expense Year shall be retroactively adjusted. If, as a result of such adjustment, it is determined that Tenant has under- or overpaid
Tenant’s Share of such Tax Excess, Tenant shall pay Landlord the amount of such underpayment, or receive a credit in the amount of such overpayment, with or against the Rent then or next due hereunder; provided, however, that if this Lease has
expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within 30 days after such adjustment is made. 

4.5 Charges for Which Tenant Is Directly Responsible. Notwithstanding any contrary provision hereof, Tenant, promptly upon
demand, shall pay (or if paid by Landlord, reimburse Landlord for) each of the following to the extent levied against Landlord or Landlord’s property: (a) any tax based upon or measured by the cost or value of Tenant’s trade fixtures,
equipment, furniture or other personal property; (b) any rent tax, sales tax, service tax, transfer tax, value added tax, use tax, business tax, gross income tax, gross receipts tax, or other tax, assessment, fee, levy or charge measured solely
by the square footage, Rent, services, tenant allowances or similar amounts, rights or obligations described or provided in or under this Lease; (c) any tax assessed upon the possession, leasing, operation, management, maintenance, alteration,
repair, use or occupancy by Tenant of any portion of the Property; and (d) any tax assessed on this transaction or on any document to which Tenant is a party that creates an interest or estate in the Premises. 

4.6 Books and Records. Within 60 days after receiving any Statement (the “Review Notice Period”), Tenant
may give Landlord notice (“Review Notice”) stating that Tenant elects to review Landlord’s calculation of the Expense Excess and/or Tax Excess for the Expense Year to which such Statement applies and identifying with
reasonable specificity the records of Landlord reasonably relating to such matters that Tenant desires to review. Within a reasonable time after receiving a timely Review Notice (and, at Landlord’s option, an executed confidentiality agreement
as described below), Landlord shall deliver to Tenant, or make available for inspection at a location reasonably designated by Landlord, copies of such records. Within 60 days after such records are made available to Tenant (the “Objection
Period”), Tenant may deliver to Landlord notice (an “Objection Notice”) stating with reasonable specificity any objections to the Statement, in which event Landlord and Tenant shall work together in good faith
to resolve Tenant’s objections. Tenant may not deliver more than one Review Notice or more than one Objection Notice with respect to any Statement. If Tenant fails to give Landlord a Review Notice before the expiration of the Review Notice
Period or fails to give Landlord an Objection Notice before the expiration of the Objection Period, Tenant shall be deemed to have approved the Statement. Notwithstanding any contrary provision here of, Landlord shall not be required to deliver or
make available to Tenant records relating to the Base Year, and Tenant may not object to Expenses or Taxes for the Base Year, other than in connection with the first review for an Expense Year performed by Tenant pursuant to this
Section 4.6. If Tenant retains an agent to review Landlord’s records, the agent must be with a CPA firm licensed to do business in the State of California with experience reviewing books and records kept for Comparable Buildings and
its fees shall not be contingent, in whole or in pa1t, upon the outcome of the review. Tenant shall be responsible for all costs of such review; provided, however, that if Landlord and Tenant determine that the sum of Expenses and Taxes for the
Expense Year in question was overstated by more than 5%, Landlord, within 30 days after receiving paid invoices therefor from Tenant, shall reimburse Tenant for the reasonable amounts paid by Tenant to third parties in connection with such review
(not to exceed $5,000.00). The records and any related information obtained from Landlord shall be treated as confidential, and as applicable only to the Premises, by Tenant, its auditors, consultants, and any other parties reviewing the same on
behalf of Tenant (collectively, “Tenant’s Auditors”). Before making any records available for review, Landlord may require Tenant and Tenant’s Auditors to execute a reasonable confidentiality agreement, in which event
Tenant shall cause the same to be executed and delivered to Landlord within 30 days after receiving it from Landlord, and if Tenant fails to do so, the Objection Period shall be reduced by one day for each day by which such execution and delivery
follows the expiration of such 30-day period. Notwithstanding any contrary provision hereof, Tenant may not examine Landlord’s records or dispute any Statement if any Rent remains unpaid past its due
date. If, for any Expense Year, Landlord and Tenant determine that the sum of Tenant’s Share of the actual Expense Excess plus Tenant’s Share of the actual Tax Excess is less or more than the amount reported, Tenant shall receive a credit
in the amount of its overpayment, or pay 

  
 7 

 
Landlord the amount of its underpayment, against or with the Rent next due hereunder; provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Landlord
shall pay Tenant the amount of its overpayment (less any Rent due), or Tenant shall pay Landlord the amount of its underpayment, within 30 days after such determination. 

5 USE; COMPLIANCE WITH LAWS. 
 5.1 Tenant
shall not (a) use the Premises for any purpose other than the Permitted Use, or (b) do anything in or about the Premises that violates any of the Rules and Regulations, damages the reputation of the Project, interferes with, injures or
annoys other occupants of the Project, or constitutes a nuisance. Tenant, at its expense, shall comply with all Laws relating to (i) the operation of its business at the Project, (ii) the use, occupancy and, other than with respect to
elements of the Base Building, the condition and configuration of the Premises, or (iii) any Supplemental Systems (defined below) serving the Premises, whether located inside or outside of the Premises. If, in order to comply with any such Law,
Tenant must obtain or deliver any permit, certificate or other document evidencing such compliance, Tenant shall provide a copy of such document to Landlord promptly after obtaining or delivering it. If a change to any Common Area or the Base
Building becomes required under Law (or if any such requirement is enforced) as a result of any Tenant-Requested Improvement (defined below) that is not of a type customarily required for general office use, any trade fixture that is not of a type
customarily required for general office use or because any use of the Premises that is not general office use, then Tenant, upon demand, shall (x) at Landlord’s option, either make such change at Tenant’s cost or pay Landlord the cost
of making such change, and (y) pay Landlord a coordination fee equal to 5% of the cost of such change. As used here in “Law” means any existing or future law, ordinance, regulation or requirement of any governmental
authority having jurisdiction over the Project or the parties. As used herein, “Supplemental System” means any Unit (defined in Section 25.5), supplemental fire-suppression system, kitchen (including any hot water
heater, dishwasher, garbage disposal, insta-hot dispenser, or plumbing), shower or similar facility, or any other system that would not customarily be considered part of the base building of a first-class
multi-tenant office building. As used herein, “Base Building System” means any mechanical (including HVAC), electrical, plumbing or fire/life-safety system serving the Building, other than a Supplemental System. As used
herein, “Base Building” means the structural portions of the Building, together with the Base Building Systems. As used herein, “Tenant-Requested Improvement” means any Leasehold Improvements (defined
in Section 7.1 below) installed by or for the benefit of Tenant, whether pursuant to this Lease or pursuant to any prior lease or other agreement to which Tenant was a party. 

5.2 Landlord, at its expense (subject to Section 4), shall cause the Base Building and the Common Areas to comply with all Laws
(including the Americans with Disabilities Act (“ADA”)) to the extent that (a) such compliance is necessary for Tenant to use the Premises for general office use in a normal and customary manner and for Tenant’s
employees and visitors to have reasonably safe access to and from the Premises, or (b) Landlord’s failure to cause such compliance would impose liability upon Tenant under Law; provided, however, that Landlord shall not be required to
cause or pay for such compliance to the extent that (x) Tenant is required to cause or pay for such compliance under Section 5.1 or 7.3 or any other provision hereof, or
(y) non-compliance arises under any provision of the ADA other than Title ill thereof. Notwithstanding the foregoing, Landlord may contest any alleged violation in good faith, including by applying for
and obtaining a waiver or deferment of compliance, asserting any defense allowed by Law, and appealing any order or judgment to the extent permitted by Law; provided, however, that (i) no cost or liability shall be imposed upon Tenant as a
result of such contest, and (ii) after exhausting any rights to contest or appeal, Landlord shall perform any work necessary to comply with any final order or judgment. 

5.3 To the extent that there is any inconsistency between the terms of this Section 5 and Exhibit B hereto,
Exhibit B shall control. 
 6 SERVICES. 

6.1 Standard Services. Landlord shall provide the following services on all days (unless otherwise stated below): (a) subject to
limitations imposed by Law, customary heating, ventilation and air conditioning (“HVAC”) in season during Building HVAC Hours, stubbed to the Premises; (b) electricity supplied by the applicable public utility, stubbed
to the Premises; (c) water supplied by the applicable public utility (i) for use in lavatories and any drinking facilities located in Common Areas within the Building, and (ii) stubbed to the Building core for use in any plumbing
fixtures located in the Premises; (d) janitorial services to the Premises, except on weekends and Holidays; (e) elevator service (subject to scheduling by Landlord for any freight service); and (f) access to the Building for Tenant
and its employees, 24 hours per day/7 days per week, subject to the terms hereof and such security or monitoring systems as Landlord may reasonably impose, including sign-in procedures and/or presentation of
identification cards. 

  
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 6.2 Above-Standard Use. Landlord shall provide HVAC service outside Building
HVAC Hours if Tenant gives Landlord such prior notice and pays Landlord such hourly cost per zone as Landlord may require. The parties acknowledge that, as of the date hereof, Landlord’s charge for HVAC service outside Building HVAC Hours is
$85.00 per hour, subject to change from time to time to Landlord’s then Building-standard rate. Tenant shall not, without Landlord’s prior consent, use equipment that may affect the temperature maintained by the air conditioning system or
consume above- Building-standard amounts of any water furnished for the Premises by Landlord pursuant to Section 6.1. If Tenant’s consumption of electricity or water exceeds the rate Landlord reasonably deems to be standard for the
Building, Tenant shall pay Landlord, upon billing, the cost of such excess consumption, including any costs of installing, operating and maintaining any equipment that is installed in order to supply or measure such excess electricity or water. The
connected electrical load of Tenant’s incidental-use equipment shall not exceed the Building-standard electrical design load, and Tenant’s electrical usage shall not exceed the capacity of the
feeders to the Project or the risers or wiring installation. 
 6.3 Interruption. Subject to Section 11, any
failure to furnish, delay in furnishing, or diminution in the quality or quantity of any service resulting from any application of Law, failure of equipment, performance of maintenance, repairs, improvements or alterations, utility interruption, or
event of Force Majeure (each, a “Service Interruption”) shall not render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder. Notwithstanding the foregoing, if all or
a material portion of the Premises is made untenantable or inaccessible for more than three (3) consecutive business days after notice from Tenant to Landlord by a Service Interruption that (a) does not result from a Casualty (defined in
Section 11), a Taking (defined in Section 13) or an Act of Tenant (defined in Section 10.1), and (b) can be corrected through Landlord’s reasonable efforts, then, as Tenant’s sole remedy, Monthly
Rent shall abate for the period beginning on the day immediately following such 3-business-day period and ending on the day such Service Interruption ends, but only in
proportion to the percentage of the rentable square footage of the Premises made untenantable or inaccessible and not occupied by Tenant. 
 7 REPAIRS
AND ALTERATIONS. 
 7.1 Repairs. Subject to Section 11, Tenant, at its expense, shall perform all maintenance
and repairs (including replacements) to the Premises, and keep the Premises in as good condition and repair as existed when Tenant took possession and as thereafter improved, except for reasonable wear and tear and repairs that are Landlord’s
express responsibility hereunder. Tenant’s maintenance and repair obligations shall include (a) all leasehold improvements in the Premises, including any Tenant Improvements, any Alterations (defined in Section 7.2), and any
leasehold improvements installed pursuant to any prior lease (the “Leasehold Improvements”), but excluding the Base Building; (b) any Supplemental Systems serving the Premises, whether located inside or outside of the
Premises; and (c) all Lines (defined in Section 23) and trade fixtures. Notwithstanding the foregoing, if a Default (defined in Section 19.1) or an emergency exists, Landlord may, at its option, perform such maintenance
and repairs on Tenant’s behalf, in which case Tenant shall ·pay Landlord, upon demand, the cost of such work plus a coordination fee equal to 5% of such cost. Landlord shall perform all maintenance and repairs (including replacements)
to, and keep in good condition and repair, (i) the roof and exterior walls and windows of the Building (so that the components of the Building remain water-tight), (ii) the Base Building, and (iii) the Common Areas. 

7.2 Alterations. Tenant may not make any improvement, alteration, addition or change to the Premises or to any mechanical,
plumbing or HVAC facility or other system serving the Premises (an “Alteration”) without Landlord’s prior consent, which consent shall be requested by Tenant not less than 30 days before commencement of work and shall
not be unreasonably withheld, conditioned or delayed by Landlord. Notwithstanding the foregoing, Landlord’s prior consent shall not be required for any Alteration that is decorative only (e.g., carpet installation or painting) and not visible
from outside the Premises, provided that Landlord receives 10 business days’ prior notice. For any Alteration, (a) Tenant, before beginning work, shall deliver to Landlord, and obtain Landlord’s approval of, plans and specifications;
(b) Landlord, in its discretion, may require Tenant to obtain security for performance satisfactory to Landlord; (c) Tenant shall deliver to Landlord “as built” drawings (in CAD format, if requested by Landlord), completion
affidavits, full and final lien waivers, and all governmental approvals; and (d) Tenant shall pay Landlord upon demand (i) Landlord’s reasonable out-of-pocket
expenses incurred in reviewing the work, and (ii) a coordination fee equal to 10% of the cost of the work; provided, however, that this clause (d) shall not apply to any Tenant Improvements. 

7.3 Tenant Work. Before beginning any repair or Alteration or any work affecting Lines (collectively, “Tenant
Work”), Tenant shall deliver to Landlord, and obtain Landlord’s approval of, (a) names of contractors, subcontractors, mechanics, laborers and materialmen; (b) evidence of contractors’ and subcontractors’
insurance in amounts and coverages as Landlord may reasonably require; and (c) any required governmental permits. Tenant shall perform all Tenant Work (i) in a good and workmanlike manner using materials of a quality reasonably approved by
Landlord; (ii) in compliance with any approved plans and specifications, all Laws, the National Electric Code, and Landlord’s construction rules and regulations; and (iii) in a manner that does not impair the Base Building. If, as a
result of any Tenant Work, Landlord becomes required under Law to perform any 

  
 9 

 
inspection, give any notice, or cause such Tenant Work to be performed in any particular manner, Tenant shall comply with such requirement and promptly provide Landlord with reasonable
documentation of such compliance. Landlord’s approval of Tenant’s plans and specifications shall not relieve Tenant from any obligation under this Section 7.3. In performing any Tenant Work, Tenant shall not use contractors,
services, labor, materials or equipment that, in Landlord’s reasonable judgment, would disturb labor harmony with any workforce or trades engaged in performing other work or services at the Project. 

8 LANDLORD’S PROPERTY. All Leasehold Improvements shall become Landlord’s property upon installation and without compensation to
Tenant. Notwithstanding the foregoing, if any Tenant- Requested Improvements (other than any Unit, which shall be governed by Section 25.5) are not, in Landlord’s reasonable judgment, Building-standard, then before the expiration or
earlier termination hereof, Tenant shall, at Landlord’s election and at Tenant’s expense, and except as otherwise notified by Landlord, remove such Tenant-Requested Improvements (other than the Excluded Items, defined below), repair any
resulting damage to the Premises or Building, and restore the affected portion of the Premises to its configuration and condition existing before the installation of such Tenant-Requested Improvements. If Tenant fails to timely perform any work
required under the preceding sentence, Landlord may perform such work at Tenant’s expense. As used herein, the term “Excluded Items” means the Tenant Improvement Work shown with reasonable specificity on the Approved
Space Plan (as initially described in Section 2.3 of Exhibit B hereto). When Landlord approves any Tenant-Requested Improvements or Alterations (or, in the case of any Tenant-Requested Improvements or Alterations not
requiring Landlord’s approval hereunder, within 10 business days after Tenant’s request), Landlord shall identify any such Tenant-Requested Improvements or Alterations that, in Landlord’s judgment, are not Building-standard. 

9 LIENS. Tenant shall keep the Project free from any lien arising out of any work performed, material furnished or obligation incurred by or on
behalf of Tenant. Tenant shall remove any such lien within 10 business days after notice from Landlord, and if Tenant fails to do so, Landlord, without limiting its remedies, may pay the amount necessary to cause such removal, whether or not such
lien is valid. The amount so paid, together with reasonable attorneys’ fees and expenses, shall be reimbursed by Tenant upon demand. 
 10
INDEMNIFICATION; INSURANCE. 
 10.1 Waiver and Indemnification. Tenant waives all claims against Landlord, its Security
Holders (defined in Section 17), Landlord’s managing agent(s), their (direct or indirect) owners, and the beneficiaries, trustees, officers, directors, employees and agents of each of the foregoing (including Landlord, the
“Landlord Parties”) for (i) any damage to person or property (or resulting from the loss of use thereof), except to the extent such damage is caused by any negligence, willful misconduct or breach of this Lease of or by
any Landlord Party, or (ii) any failure to prevent or control any criminal or otherwise wrongful conduct by any third party (not acting as Landlord’s agent) or to apprehend any such third party who has engaged in such conduct. Tenant shall
indemnify, defend, protect, and hold the Landlord Parties harmless from any obligation, loss, claim, action, liability, penalty, damage, cost or expense (including reasonable attorneys’ and consultants’ fees and expenses) (each, a
“Claim”) that is imposed or asserted by any third party and arises from (a) any cause in, on or about the Premises, or (a) any negligence, willful misconduct or breach of this Lease of or by Tenant, any party
claiming by, through or under Tenant, their (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers, directors, employees, agents, contractors, licensees or invitees (each, an “Act of Tenant”),
except to the extent such Claim arises from any negligence, willful misconduct or breach of this Lease of or by any Landlord Party. Landlord shall indemnify, defend, protect, and hold Tenant, its (direct or indirect) owners, and their respective
beneficiaries, trustees, officers, directors, employees and agents (including Tenant, the “Tenant Parties”) harmless from any Claim that is imposed or asserted by any third party and arises from any negligence, willful
misconduct or breach of this Lease of or by any Landlord Party, except to the extent such Claim arises from any negligence, willful misconduct or breach of this Lease of or by any Tenant Party. 

10.2 Tenant’s Insurance. Tenant shall maintain the following coverages in the following amounts: 

10.2.1 Commercial General Liability Insurance, written on an occurrence basis, with a combined single limit for bodily injury and prope1ty
damages of not less than Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000), in the annual aggregate, which shall apply separately to each location of Tenant, including products liability coverage if applicable,
blanket contractual coverage including written contracts, and personal and bodily injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and exemption of Landlord from liability agreements set
forth in this Lease. 

  
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 10.2.2 Commercial General Liability Insurance, written on an occurrence basis, with a
combined single limit for bodily injury and prope1ty damages of not less than Three Million Dollars ($3,000,000) per occurrence and Five Million Dollars ($5,000,000), in the annual aggregate, which shall apply separately to each location of Tenant,
including products liability coverage if applicable, blanket contractual coverage including written contracts, and personal and bodily injury coverage, covering the insuring provisions of this Lease and the performance of Tenant of the indemnity and
exemption of Landlord from liability agreements set forth in this Lease. 
 10.2.3 Workers’ Compensation statutory limits and
Employers’ Liability limits of $1,000,000. 
 10.3 Form of Policies. The minimum limits of insurance required to be
carried by Tenant shall not limit Tenant’s liability. Such insurance shall be issued by an insurance company that has an A.M. Best rating of not less than A-VIII. Tenant’s Commercial General
Liability Insurance shall (a) name the Landlord Parties and any other party designated by Landlord (“Additional Insured Parties”) as additional insureds; and (b) be primary insurance as to all claims thereunder and
provide that any insurance carried by Landlord is excess and non-contributing with Tenant’s insurance. Landlord shall be designated as a loss payee with respect to Tenant’s Prope1ty Insurance on any
Tenant-Insured Improvements. Tenant shall deliver to Landlord, on or before the Commencement Date and at least 15 days before the expiration dates thereof, certificates from Tenant’s insurance company on the forms currently designated
“ACORD 25” (Certificate of Liability Insurance) and “ACORD 28” (Evidence of Commercial Property Insurance) or the equivalent. Attached to the ACORD 25 (or equivalent) there shall be an endorsement (or an excerpt from the policy)
naming the Additional Insured Parties as additional insureds, and attached to the ACORD 28 (or equivalent) there shall be an endorsement (or an excerpt from the policy) designating Landlord as a Joss payee with respect to Tenant’s Property
Insurance on any Tenant-Insured Improvements, and each such endorsement (or policy excerpt) shall be binding on Tenant’s insurance company. Tenant agrees that if Tenant does not take out and maintain such insurance or furnish Landlord with
certificates of coverage in a timely manner, Landlord may (but shall not be required to) procure said insurance on Tenant’s behalf and charge Tenant the cost thereof, which amount shall be payable by Tenant upon demand with interest (at the
rate that is at the lesser of 18% per annum or the highest rate permitted by Law) from the date such sums are expended. Tenant shall have the right to provide such insurance coverage pursuant to blanket policies obtained by Tenant, provided such
blanket policies expressly afford coverage to the Premises and to Tenant as required by this Lease. 
 10.4 Subrogation.
Notwithstanding any provision in this Lease to the contrary (but subject to the provisions set forth in Section 11 below as well as the provisions set forth in Sections 4 and of Exhibit D hereto) each party
waives, and shall cause its insurance carrier to waive, any right of recovery against the other party, any of its (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers, directors, employees or agents for any loss
of or damage to prope1ty which loss or damage is (or, if the insurance required hereunder had been carried, would have been) covered by the waiving party’s property insurance. For purposes of this Section 10.4 only, (a) any
deductible with respect to a party’s insurance shall be deemed covered by, and recoverable by such party under, valid and collectable policies of insurance, and (b) any contractor retained by Landlord to install, maintain or monitor a fire
or security alarm for the Building shall be deemed an agent of Landlord. 
 10.5 Additional Insurance Obligations. Tenant
shall maintain such increased amounts of the insurance required to be carried by Tenant under this Section 10, and such other types and amounts of insurance covering the Premises and Tenant’s operations therein, as may be reasonably
requested by Landlord, but not in excess of the amounts and types of insurance then being requited by landlords of Comparable Buildings. Tenant agrees that it will not, at any time, during the Term, carry any stock of goods or do anything in or
about the Premises that will in any way tend to increase Landlord’s insurance rates upon the Project. Tenant agrees to pay Landlord forthwith upon demand the amount of any increase in Landlord’s premiums for insurance that may be carried
during the Term of this Lease, or the amount of insurance to be carried by Landlord on the Project resulting from the foregoing, or from Tenant doing any act in or about the Premises that does so increase the insurance rates, whether or not Landlord
shall have consented to such act on the part of Tenant. Tenant shall, at its own expense, comply with the requirements of Landlord’s insurance providers applicable to the Premises including, without limitation, the installation of fire
extinguishers or an automatic dry chemical extinguishing system. 
 10.6 Landlord’s Insurance. Landlord may, as a cost to
be included in Expenses (subject to the terms of Section 4 hereof), procure and maintain at all times during the Term of this Lease, a policy or policies of insurance covering loss or damage to the Project in the amount of the full
replacement cost without deduction for depreciation thereof, providing protection against all perils included within the classification of fire and extended coverage, vandalism coverage and malicious mischief, sprinkler leakage, water damage, and
special extended coverage on the building. Additionally, Landlord may carry: (i) commercial general liability and umbrella/excess liability insurance and (ii) earthquake and/or flood damage insurance; and (iii) rental income
insurance; and (iv) any other forms of insurance Landlord may deem appropriate or any lender may require. The costs of all insurance carried by Landlord shall be included in Expenses (subject to the terms of Section 4 hereof). 

  
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 11 CASUALTY DAMAGE. With reasonable promptness after discovering any damage to the Premises
(other than trade fixtures), or to any Common Area or p01tion of the Base Building necessary for access to or tenantability of the Premises, resulting from any fire or other casualty (a “Casualty”), Landlord shall notify
Tenant of Landlord’s reasonable estimate of the time required to substantially complete repair of such damage (the “Landlord Repairs”). If, according to such estimate, the Landlord Repairs cannot be substantially
completed within 180 days after they are commenced, either party may terminate this Lease upon 60 days’ notice to the other party delivered within 10 days after Landlord’s delivery of such estimate. Within 90 days after discovering any
damage to the Project resulting from any Casualty, Landlord may, whether or not the Premises are affected, terminate this Lease by notifying Tenant if (i) any Security Holder terminates any ground lease or requires that any insurance proceeds
be used to pay any mortgage debt; (ii) any damage to Landlord’ s prope1ty is not fully covered by Landlord’s insurance policies; (iii) Landlord decides to rebuild the Building or Common Areas so that it or they will be
substantially different structurally or architecturally; (iv) the damage occurs during the last 12 months of the Term; or (v) any owner, other than Landlord, of any damaged portion of the Project does not intend to repair such damage. If
this Lease is not terminated pursuant to this Section 11, Landlord shall promptly and diligently perform the Landlord Repairs, subject to reasonable delays for insurance adjustment and other events of Force Majeure. The Landlord Repairs
shall restore the Premises (other than trade fixtures) and any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises to substantially the same condition that existed when the Casualty occurred, except
for (a) any modifications required by Law or any Security Holder, and (b) any modifications to the Common Areas that are deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to
or tenantability of the Premises. Notwithstanding Section 10.4, Tenant shall assign to Landlord (or its designee) all insurance proceeds payable to Tenant under Tenant’s insurance required under Section 10.2 with respect
to any Tenant-Insured Improvements, and if the estimated or actual cost of restoring any Tenant-Insured Improvements exceeds the insurance proceeds received by Landlord from Tenant’s insurance carrier, Tenant shall pay such excess to Landlord
within 15 days after Landlord’s demand. No Casualty and no restoration performed as required hereunder shall render Landlord liable to Tenant, constitute a constructive eviction, or excuse Tenant from any obligation hereunder; provided,
however, that if the Premises (other than trade fixtures) or any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises is damaged by a Casualty, then, during any time that, as a result of such damage,
any portion of the Premises is inaccessible or untenantable and is not occupied by Tenant, Monthly Rent shall be abated in proportion to the rentable square footage of such portion of the Premises. If Landlord does not substantially complete the
Landlord Repairs by the Outside Restoration Date (defined below), Tenant may terminate this Lease by notifying Landlord within 15 days after the Outside Restoration Date and before the substantial completion of the Landlord Repairs. As used herein,
“Outside Restoration Date” means the date occurring two (2) months after the later of (a) the expiration of the time set forth in Landlord’s estimate described in the first sentence of this
Section 11, or (b) the date occurring 180 days after the commencement of the Landlord Repairs; provided, however, that the Outside Restoration Date shall be extended to the extent of (i) any delay caused by the insurance
adjustment process, (ii) any delay caused by Tenant or any party claiming by, through or under Tenant, and (iii) any other delay (up to 90 days) caused by events of Force Majeure. Notwithstanding the foregoing, if Landlord determines in
good faith that it will be unable to substantially complete the Landlord Repairs by the Outside Restoration Date, Landlord may cease its performance of the Landlord Repairs and provide Tenant with notice (the “Restoration Date Extension
Notice”) stating such inability and identifying the date on which Landlord reasonably believes such substantial completion will occur, in which event Tenant may terminate this Lease by notifying Landlord within five (5) business
days after receiving the Restoration Date Extension Notice. If Tenant does not terminate this Lease within such 5-business day period, the Outside Restoration Date shall be automatically amended to be the date
identified in the Restoration Date Extension Notice. 
 12 NONWAIVER. No provision hereof shall be deemed waived by either patty unless it is
waived by such party expressly and in writing, and no waiver of any breach of any provision hereof shall be deemed a waiver of any subsequent breach of such provision or any other provision hereof. Landlord’s acceptance of Rent shall not be
deemed a waiver of any preceding breach of any provision hereof, other than Tenant’s failure to pay the particular Rent so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of such acceptance. No acceptance
of payment of an amount less than the Rent due hereunder shall be deemed a waiver of Landlord’s right to receive the full amount of Rent due, whether or not any endorsement or statement accompanying such payment purports to effect an accord and
satisfaction. No receipt of monies by Landlord from Tenant after the giving of any notice, the commencement of any suit, the issuance of any final judgment, or the termination hereof shall affect such notice, suit or judgment, or reinstate or extend
the Term or Tenant’s right of possession hereunder. 
 13 CONDEMNATION. If any part of the Premises, Building or Project is taken for any
public or quasi-public use by power of eminent domain or by private purchase in lieu thereof (a “Taking”) for more than 180 consecutive days, Landlord may terminate this Lease. If more than 25% of the rentable square footage
of the Premises, or any Common Area or portion of the Base Building necessary for access to or tenantability of the Premises, is Taken for more than 180 consecutive days, Tenant may terminate this Lease. Any such termination shall be effective as of
the date possession must be surrendered to the 

  
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authority, and the terminating party shall provide termination notice to the other party within 45 days after receiving written notice of such surrender date. Except as provided above in this
Section 13, neither party may terminate this Lease as a result of a Taking. Tenant shall not assert, and hereby assigns to Landlord, any claim it may have for compensation because of any Taking; provided, however, that Tenant may file a
separate claim for any Taking of Tenant’s personal property or any trade fixtures that Tenant is entitled to remove upon the expiration hereof, and for moving expenses, so long as such claim does not diminish the award available to Landlord or
any Security Holder and is payable separately to Tenant. If this Lease is terminated pursuant to this Section 13, all Rent shall be apportioned as of the date of such termination. If a Taking occurs and this Lease is not so terminated,
Monthly Rent shall be abated for the period of such Taking in proportion to the percentage of the rentable square footage of the Premises, if any, that is subject to, or rendered inaccessible or untenantable by, such Taking and not occupied by
Tenant. 
 14 ASSIGNMENT AND SUBLETTING. 

14.1 Transfers. Tenant shall not, without Landlord’s prior consent, assign, mortgage, pledge, hypothecate, encumber, permit
any lien to attach to, or otherwise transfer this Lease or any interest hereunder, permit any assignment or other transfer hereof or any interest hereunder by operation of law, enter into any sublease or license agreement, otherwise permit the
occupancy or use of any part of the Premises by any persons other than Tenant and its employees and contractors, or permit a Change of Control (defined in Section 14.6) to occur (each, a “Transfer”). If Tenant
desires Landlord’s consent to any Transfer, Tenant shall provide Landlord with (i) notice of the terms of the proposed Transfer, including its proposed effective date (the “Contemplated Effective Date”), a
description of the portion of the Premises to be transferred (the “Contemplated Transfer Space”), a calculation of the Transfer Premium (defined in Section 14.3), and a copy of all existing executed and/or
proposed documentation pertaining to the proposed Transfer, and (ii) current financial statements of the proposed transferee (or, in the case of a Change of Control, of the proposed new controlling party(ies)) certified by an officer or owner
thereof and any other information reasonably required by Landlord in order to evaluate the proposed Transfer (collectively, the “Transfer Notice”). Within 20 days after receiving the Transfer Notice, Landlord shall notify
Tenant of (a) its consent to the proposed Transfer, (b) its refusal to consent to the proposed Transfer, or (c) its exercise of its rights under Section 14.4. Any Transfer made without Landlord’s prior consent shall,
at Landlord’s option, be void and shall, at Landlord’s option, constitute a Default. Concurrently with Tenant’s delivery of the Transfer Notice, Tenant shall pay Landlord a fee of $1,500.00 for Landlord’s review of any proposed
Transfer, whether or not Landlord consents to it. 
 14.2 Landlord’s Consent. Subject to Section 14.4,
Landlord shall not unreasonably withhold or condition its consent to any proposed Transfer. Without limiting other reasonable grounds for withholding consent, it shall be deemed reasonable for Landlord to withhold its consent to a proposed Transfer
if: 
 14.2.1 The proposed transferee is not a party of reasonable financial strength in light of the responsibilities to be undertaken in
connection with the Transfer on the date the Transfer Notice is received; or 
 14.2.2 The proposed transferee has a character or reputation
or is engaged in a business that is not consistent with the quality of the Building or the Project; or 
 14.2.3 The proposed transferee is
a governmental entity or a nonprofit organization; or 
 14.2.4 Intentionally omitted; or 

14.2.5 The proposed transferee or any of its Affiliates, on the date the Transfer Notice is received, leases or occupies (or, at any time
during the 4-month period ending on the date the Transfer Notice is received, has provided Landlord with a written proposal or request for proposal to lease) space in the Project and Landlord has (or believes
in good faith, based on the scheduled expiration dates of existing leases and/or its rights to relocate existing tenants, that it will have) space available that, in its good faith judgment, will meet the proposed transferee’s leasing needs; or

 14.2.6 The use to be made of the Contemplated Transfer Space is a use which would be prohibited by any other portion of this Lease or a
use which conflicts with any applicable so-called “exclusive” then in favor of another tenant of the Building or Project. 

Notwithstanding any contrary provision hereof, (a) if Landlord consents to any Transfer pursuant to this Section 14.2 but Tenant
does not enter into such Transfer within six (6) months thereafter, such consent shall no longer apply and such Transfer shall not be permitted unless Tenant again obtains Landlord’s consent thereto pursuant and subject to the terms of
this Section 14; and (b) if Landlord withholds its consent in breach of this Section 14.2, Tenant’s sole remedies shall be contract damages (subject to
Section 20) or specific performance, and Tenant waives all other remedies, including any right to terminate this Lease. 

  
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 14.3 Transfer Premium. If Landlord consents to a Transfer (other than a Change
of Control or a Permitted Transfer in which case this Section 14.3 shall not be applicable), Tenant shall pay Landlord an amount equal to 50% of any Transfer Premium (defined below). As used herein, “Transfer Premium”
means (a) in the case of an assignment, any consideration (including payment for Leasehold Improvements) paid by the assignee for such assignment, less any reasonable and customary expenses directly incurred by Tenant on account of such
assignment, including brokerage fees, legal fees, and Landlord’s review fee, and (b) in the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement, the amount by which all rent and other
consideration paid by the transferee to Tenant pursuant to such agreement (less all reasonable and customary expenses directly incurred by Tenant on account of such agreement, including brokerage fees, legal fees, construction costs and
Landlord’s review fee) exceeds the Monthly Rent payable by Tenant hereunder with respect to the Contemplated Transfer Space. Payment of Landlord’s share of the Transfer Premium shall be made (x) in the case of an assignment, within 30
days after Tenant receives the consideration described above, and (y) in the case of a sublease, license or other occupancy agreement, for each month of the term of such agreement, within 30 days after Tenant receives the rent and other
consideration described above. 
 14.4 Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof,
except in the case of a Permitted Transfer (defined in Section 14.8), a Change of Control, or a sublease (including any expansion rights) of less than 50% of the rentable square footage of the then existing Premises for a term (including
any extension options) of less than 50% of the balance of the Term remaining on the Contemplated Effective Date (excluding any unexercised extension options), Landlord, by notifying Tenant within 20 days after receiving the Transfer Notice, may
terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date; provided, however, that such termination shall not be effective if Tenant, by notifying Landlord within five (5) days after receiving
Landlord’s notice of termination, withdraws the Transfer Notice. If Tenant does not timely withdraw the Transfer Notice, and if the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the
number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the portion of the Premises retained by Tenant. Upon request of either party, the
parties shall execute a written agreement prepared by Landlord memorializing such termination. 
 14.5 Effect of Consent. If
Landlord consents to a Transfer, (i) such consent shall not be deemed a consent to any further Transfer, (ii) Tenant shall deliver to Landlord, promptly after execution, an executed copy of all documentation pertaining to the Transfer in
form reasonably acceptable to Landlord, and (iii) Tenant shall deliver to Landlord, upon Landlord’s request, a complete statement, certified by an independent CPA or Tenant’s chief financial officer, setting forth in detail the
computation of any Transfer Premium. In the case of an assignment, the assignee shall assume in writing, for Landlord’s benefit, all of Tenant’s obligations hereunder. No Transfer, with or without Landlord’s consent, shall relieve
Tenant or any guarantor hereof from any liability hereunder. Notwithstanding any contrary provision hereof, Tenant, with or without Landlord’s consent, shall not enter in to, or permit any party claiming by, through or under Tenant to enter
into, any sublease, license or other occupancy agreement that provides for payment based in whole or in part on the net income or profit of the subtenant, licensee or other occupant thereunder. 

14.6 Change of Control. As used herein, “Change of Control” means (a) if Tenant is a closely held
professional service firm, the withdrawal or change (whether voluntary, involuntary or by operation of law) of more than 50% of its equity owners within a 12-month period; and (b) in all other cases, any
transaction(s) resulting in the acquisition of a Controlling Interest (defined below) in Tenant by one or more patties that neither owned, nor are Affiliates (defined below) of one or more parties that owned, a Controlling Interest in Tenant
immediately before such transaction(s). As used herein, “Controlling Interest” means control over an entity, other than control arising from the ownership of voting securities listed on a recognized securities exchange. As
used herein, “control” means the direct or indirect power to direct the ordinary management and policies of an entity, whether through the ownership of voting securities, by contract or otherwise. As used herein,
“Affiliate” means, with respect to any patty, a person or entity that controls, is under common control with, or is controlled by such party. 

14.7 Effect of Default. If Tenant is in Default, Landlord is irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any transferee under any sublease, license or other occupancy agreement to make all payments under such agreement directly to Landlord (which
Landlord shall apply towards Tenant’s obligations hereunder) until such Default is cured. Such transferee shall rely upon any representation by Landlord that Tenant is in Default, whether or not confirmed by Tenant. 

14.8 Permitted Transfers. Notwithstanding any contrary provision here of, if Tenant is not in Default, Tenant may, without
Landlord’s consent pursuant to Section 14.1, permit a Change of Control to occur, sublease any portion of the Premises to an Affiliate of Tenant or assign this Lease to (a) an Affiliate of Tenant (other than pursuant to a
merger or consolidation), (b) a successor to Tenant by merger or consolidation, or (c) a successor to Tenant by purchase of all or substantially all of Tenant’s assets (a “Permitted Transfer”), provided that
(i) at least 10 business days before the Transfer (provided 

  
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that if such pre-Transfer notice and delivery are prohibited by a confidentiality agreement or by Law, then within 10 business days after the Transfer),
Tenant notifies Landlord of the Transfer and delivers to Landlord any documents or information reasonably requested by Landlord relating thereto, including reasonable documentation that the Transfer satisfies the requirements of this
Section 14.8; (ii) in the case of a sublease, the subtenant executes and delivers to Landlord, at least 10 business days before taking occupancy, an agreement reasonably acceptable to Landlord which (A) requires the subtenant to
assume all of Tenant’s release, waiver, indemnity and insurance obligations hereunder with respect to the Contemplated Transfer Space and to be bound by each provision hereof that limits the liability of any Landlord Party, and
(B) provides that if either a Landlord Party or the subtenant institutes a suit against the other for violation of or to enforce such agreement, or in connection with any matter relating to the sublease or the subtenant’s occupancy of the
Contemplated Transfer Space, the prevailing party shall be entitled to all of its costs and expenses, including reasonable attorneys’ fees; (iii) in the case of an assignment pursuant to clause (a) or (c) above, the assignee executes
and delivers to Landlord, at least 10 business days before the assignment (provided that if such pre-assignment execution and delivery are prohibited by a confidentiality agreement or by Law, then within 10
business days after the assignment), a commercially reasonable instrument pursuant to which the assignee assumes, for Landlord’s benefit, all of Tenant’s obligations hereunder; (iv) in the case of an assignment pursuant to clause
(b) above, (A) the successor entity has a net worth (as determined in accordance with GAAP, but excluding intellectual property and any other intangible assets (“Net Worth”)) immediately after the Transfer that is not
less than Tenant’s Net Worth immediately before the Transfer, and (B) if Tenant is a closely held professional service firm, at least 50% of its equity owners existing 12 months before the Transfer are also equity owners of the successor
entity; (v) except in the case of a Change of Control, the transferee is qualified to conduct business in the State of California; (vi) in the case of a Change of Control, (A) Tenant is not a closely held professional service firm and
(B) Tenant’s Net Worth immediately after the Change of Control is not less than its Net Worth immediately before the Change of Control; and (vii) the Transfer is made for a good faith operating business purpose and not in order to
evade the requirements of this Section 14. 
 15 SURRENDER. Upon the expiration or earlier termination hereof, and subject to
Sections 8 and 11 and this Section 15, Tenant shall surrender possession of the Premises to Landlord in as good condition and repair as existed when Tenant took possession and as thereafter imp roved, except for reasonable
wear and tear and repairs that are Landlord’s express responsibility hereunder. Before such expiration or termination, Tenant, without expense to Landlord, shall (a) remove from the Premises all debris and rubbish and all furniture,
equipment, trade fixtures, Lines, free-standing cabinet work, movable partitions and other articles of personal property that are owned or placed in the Premises by Tenant or any party claiming by, through or tinder Tenant (except for any Lines not
required to be removed under Section 23), and (b) repair all damage to the Premises and Building resulting from such removal. If Tenant fails to timely perform such removal and repair, Landlord may do so at Tenant’s expense
(including storage costs). If Tenant fails to remove such property from the Premises, or from storage, within 30 days after notice from Landlord, any part of such property shall be deemed, at Landlord’s option, either (x) conveyed to
Landlord without compensation, or (y) abandoned. 
 16 HOLDOVER. If Tenant fails to surrender the Premises upon the expiration or earlier
termination hereof, Tenant’s tenancy shall be subject to the terms and conditions hereof; provided, however, that such tenancy shall be a tenancy at sufferance only, for the entire Premises, and Tenant shall pay Monthly Rent (on a per-month basis without reduction for any partial month) at a rate equal to 150% of the Monthly Rent applicable during the last calendar month of the Term. Nothing in this Section 16 shall limit
Landlord’s rights or remedies or be deemed a consent to any holdover. If Landlord is unable to deliver possession of the Premises to, or perform improvements for, a new tenant as a result of Tenant’s holdover, Tenant shall be liable for
all resulting damages, including lost profits, incurred by Landlord but only to the extent that such damages result from the occurrence or continuation of such holdover more than 30 days after notice from Landlord that Landlord has entered into, or
will enter into, a lease with such new tenant. 
 17 SUBORDINATION; ESTOPPEL CERTIFICATES; FINANCIALS. This Lease shall be subject and
subordinate to all existing and future ground or underlying leases, mortgages, trust deeds and other encumbrances against the Building or Project, all renewals, extensions, modifications, consolidations and replacements thereof (each, a
“Security Agreement”), and all advances made upon the security of such mortgages or trust deeds, unless in each case the holder of such Security Agreement (each, a “Security Holder”) requires in
writing that this Lease be superior thereto. Upon any termination or foreclosure (or any delivery of a deed in lieu of foreclosure) of any Security Agreement, Tenant, upon request, shall attorn, without deduction or
set-off, to the Security Holder or purchaser or any successor thereto and shall recognize such party as the lessor hereunder provided that such party agrees not to disturb Tenant’s occupancy so Jong as
Tenant timely pays the Rent and otherwise performs its obligations hereunder. Within 10 business days after Landlord’s request, Tenant shall execute such further commercially reasonable instruments as Landlord may reasonably deem necessary to
evidence the subordination or superiority of this Lease to any Security Agreement. Tenant waives any right it may have under Law to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder

  
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upon a foreclosure. Within 10 business days after Landlord’s request, Tenant shall execute and deliver to Landlord a commercially reasonable estoppel certificate in favor of such parties as
Landlord may reasonably designate, including current and prospective Security Holders and prospective purchasers. Within 10 days after Tenant’s receipt of Landlord’s written request (but no more than once each calendar year), Tenant shall
provide Landlord with its current financial statement and its financial statements for the prior three (3) calendar or fiscal years (if Tenant’s fiscal year is other than a calendar year). Any such statements shall be prepared in
accordance with generally accepted accounting principles and, if the normal practice of Tenant, shall be audited by an independent certified public accountant. 

18 ENTRY BY LANDLORD. At all reasonable times and upon no less than 24 hours prior notice to Tenant, or in an emergency, Landlord may enter the
Premises to (i) inspect the Premises; (ii) show the Premises to prospective purchasers, current or prospective Security Holders or insurers, or, during the last 12 months of the Term (or while an uncured Default exists), prospective
tenants; (iii) post notices of non-responsibility; or (iv) perform maintenance, repairs or alterations. At any time and without notice to Tenant, Landlord may enter the Premises to perform required services; provided, however, that except
in an emergency, Landlord shall provide Tenant with reasonable prior notice (which notice, notwithstanding Section 25.1, may be delivered by e-mail, fax, telephone or orally and in person) of any
entry to perform a service that is not performed on a monthly or more frequent basis. If reasonably necessary, Landlord may temporarily close any portion of the Premises to perform maintenance, repairs or alterations. In an emergency, Landlord may
use any means it deems proper to open doors to and in the Premises. Except in an emergency, Landlord shall use reasonable efforts to minimize interference with Tenant’s use of the Premises. Without limiting the foregoing, except in an
emergency, any unreasonably noisy or otherwise disruptive work performed by Landlord in the Premises pursuant to this Section 18 shall be performed outside of normal business hours. Except in an emergency, Tenant may have one of its
employees accompany Landlord if Tenant makes such employee available when Landlord enters the Premises. No entry into or closure of any portion of the Premises pursuant to this Section 18 shall render Landlord liable to Tenant,
constitute a constructive eviction, or excuse Tenant from any obligation hereunder. 
 19 DEFAULTS; REMEDIES. 

19.1 Events of Default. The occurrence of any of the following shall constitute a “Default”: 

19.1.1 Any failure by Tenant to pay any Rent (or deliver any Security Deposit, Letter of Credit, or similar credit enhancement required
hereunder) when due unless such failure is cured within five (5) business days after Landlord’s written notice to Tenant; or 

19.1.2 Except where a specific time period is otherwise set forth for Tenant’s cure herein (in which event Tenant’s failure to cure
within such time period shall be a Default), and except as otherwise provided in this Section 19.1, any breach by Tenant of any other provision hereof where such breach continues for 30 days after notice from Landlord; provided that if
such breach cannot reasonably be cured within such 30-day period, Tenant shall not be in Default as a result of such breach if Tenant diligently commences such cure within such period, thereafter diligently
pursues such cure, and completes such cure within 60 days after Landlord’s notice; or 
 19.1.3 Intentionally Omitted; or 

19.1.4 Any breach by Tenant of Section 17 or 18. where such breach continues for more than two (2) business days after
notice from Landlord; or 
 19.1.5 Tenant becomes in breach of Section 25.3(c) or (d). 

If Tenant breaches a particular provision hereof (other than a provision requiring payment of Rent) on three (3) separate occasions
during any 12-month period, Tenant’s subsequent breach of such provision shall be, at Landlord’s option, an incurable Default. The notice periods provided herein are ih lieu of, and not in addition
to, any notice periods provided by Law, and Landlord shall not be required to give any additional notice in order to be entitled to commence an unlawful detainer proceeding. 

19.2 Remedies Upon Default. Upon any Default, Landlord shall have, in addition to any other remedies available to Landlord at
law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies (which shall be cumulative and nonexclusive) without any additional notice or demand: 

19.2.1 Landlord may terminate this Lease, m which event Landlord may recover from Tenant the following: 

(a) The worth at the time of award of the unpaid Rent which had been earned at the time of such termination; plus 

(b) The worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of
award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

  
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 (c) The worth at the time of award of the amount by which the unpaid Rent for the balance
of the Term after the time of award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided; plus 
 (d) Any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations hereunder or which in the ordinary course of things would be likely to result therefrom, including brokerage
commissions, advertising expenses, expenses of remodeling any portion of the Premises for a new tenant (whether for the same or a different use), and any special concessions made to obtain a new tenant; plus 

(e) At Landlord’s option, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by Law.

 As used in Sections 19.2.1(a) and (b), the “worth at the time of award” shall be computed by allowing
interest at the rate specified in Section 3(b) above. As used in Section 19.2.1(c) the “worth at the time of award” shall be computed by discounting such amount at the
discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%. 
 19.2.2 Landlord shall have the remedy described
in California Civil Code § 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject only to reasonable limitations).
Accordingly, if Landlord does not elect to terminate this Lease on account of any default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover
all Rent as it becomes due. 
 19.2.3 Landlord shall at all times have the rights and remedies (which shall be cumulative with each other
and cumulative and in addition to those rights and remedies available under Sections 19.2.1 and 19.2.2, or any Law or other provision hereof), without prior demand or notice except as required by Law, to seek any declaratory,
injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof. 

19.3 Efforts to Relet. Unless Landlord provides Tenant with express notice to the contrary, no
re-entry, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election by Landlord to terminate
this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant waives, for Tenant and for all those claiming by, through or under Tenant,
California Civil Code§ 3275, California Code of Civil Procedure§§ 1174(c) and 1179, and any existing or future rights to redeem or reinstate, by order or judgment of any court or by any legal process or writ, this Lease or
Tenant’s right of occupancy of the Premises after any termination hereof. 
 19.4 Landlord Default. Landlord shall not be
in default hereunder unless it breaches a provision hereof and such breach continues for 30 days after notice from Tenant; provided that if such breach cannot reasonably be cured within such 30-day period,
Landlord shall not be in default as a result of such breach if Landlord diligently commences such cure within such period, thereafter diligently pursues such cure, and completes such cure within 60 days after Tenant’s notice. Upon any such
default by Landlord, Tenant shall have all remedies available to it at law or in equity, except as otherwise provided herein. Before exercising any remedies for a default by Landlord, Tenant shall give notice and a reasonable time to cure to any
Security Holder of which Tenant has been notified. 
 20 LANDLORD EXCULPATION. Notwithstanding any contrary provision hereof, (a) the
liability of the Landlord Parties to Tenant shall be limited to an amount equal to the lesser of (i) Landlord’s interest in the Building, or (ii) the equity interest Landlord would have in the Building if the Building were encumbered
by third-party debt in an amount equal to 80% of the value of the Building (as such value is determined by Landlord); (b) Tenant shall look solely to Landlord’s interest in the Building for the recovery of any judgment or award against any
Landlord Party; (c) no Landlord Party shall have any liability for any judgment or deficiency, and Tenant waives and releases such liability on behalf of itself and all parties claiming by, through or under Tenant; and (d) no Landlord
Party shall be liable for any injury or damage to, or interference with, Tenant’s business, including loss of profits, loss of rents or other revenues, loss of business opportunity, loss of goodwill or Joss of use, or for any form of special or
consequential damage. For purposes of this Section 20, “Landlord’s interest in the Building” shall include rents paid by tenants, insurance proceeds, condemnation proceeds, and proceeds from the sale of the
Building (collectively, “Owner Proceeds”); provided, however, that Tenant shall not be entitled to recover Owner Proceeds from any Landlord Party (other than Landlord) or any other third party after they have been distributed
or paid to such party; provided further, however, that nothing in this sentence shall diminish any right Tenant may have under Law, as a creditor of Landlord, to initiate or participate in an action to recover Owner Proceeds from a third pa1ty on
the grounds that such third party obtained such Owner Proceeds when Landlord was, or could reasonably be expected to become, insolvent or in a transfer that was preferential or fraudulent as to Landlord’s creditors. 

  
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 21 SECURITY DEPOSIT. Concurrently with its execution and delivery hereof, Tenant shall deposit
with Landlord the Security Deposit, if any, as security for Tenant’s performance of its obligations hereunder. If Tenant breaches any provision hereof and either (i) such breach continues beyond any applicable notice and cure period, or
(ii) this Lease expires or terminates, Landlord may, at its option, without limiting its remedies and without notice to Tenant, apply all or part of the Security Deposit to cure such breach and compensate Landlord for any Joss or damage caused
by such breach, including any damage for which recovery may be made under California Civil Code § 1951.2. If Landlord so applies any portion of the Security Deposit, Tenant, within five (5) business days after demand therefor, shall
restore the Security Deposit to its original amount. The Security Deposit is not an advance payment of Rent or measure of damages. Any unapplied portion of the Security Deposit shall be returned to Tenant within 60 days after the latest to occur of
(a) the expiration of the Term, (b) Tenant’s surrender of the Premises as required hereunder, or (c) Landlord’s cure of any breach by Tenant of any provision hereof; provided, however, that if Landlord estimates in good
faith that Tenant may be required to make a payment to Landlord under Section 4.4.1, Landlord may retain such unapplied portion of the Security Deposit, to the extent of the estimated amount of such payment, until the date occurring 60
days after determination of the final Rent due from Tenant. Landlord shall not be required to keep the Security Deposit separate from its other accounts. 

22 RELOCATION. Landlord, after giving no less than 90 days prior written notice, may move Tenant to other space (located on the 10th floor or above) in the Project comparable in size (but no smaller than the Premises), configuration and utility to the Premises. In such event, all terms hereof shall apply to the new space, except
that Base Rent and (except to the extent of the percentage, if any, by which the rentable square footage of the building in which the new space is located is less than the rentable square footage of the Building) Tenant’s Share shall not
increase as a result of such relocation. Landlord, at its expense, shall provide Tenant with tenant improvements in the new space at least equal in quality to those in the Premises. Landlord shall reimburse Tenant for Tenant’s reasonable
moving, re-cabling and stationery- replacement costs. The parties shall execute a written agreement prepared by Landlord memorializing the relocation. 

23 COMMUNICATIONS AND COMPUTER LINES. All Lines installed pursuant to this Lease shall be (a) installed in accordance with
Section 7; and (b) clearly marked with adhesive plastic labels (or plastic tags attached to such Lines with wire) to show Tenant’s name, suite number, and the purpose of such Lines (i) every six (6) feet outside the
Premises (including the electrical room risers and any Common Areas), and (ii) at their termination points. Landlord may designate specific contractors for work relating to vertical Lines. Sufficient spare cables and space for additional cables
shall be maintained for other occupants, as reasonably determined by Landlord. Unless otherwise notified by Landlord, Tenant, at its expense and before the expiration or earlier termination hereof, shall remove all Lines and repair any resulting
damage. As used herein, “Lines” means all communications or computer wires and cables serving the Premises installed or paid for by Tenant pursuant to this Lease. 

24 PARKING. Tenant may park in the Building’s parking facilities (the “Parking Facility”), in common with other tenants of
the Building, upon the following terms and conditions. Tenant shall not use more than the number of unreserved and/or reserved parking spaces set forth in Section 1.9. Tenant shall comply with all rules and regulations established by
Landlord from time to time for the orderly operation and use of the Parking Facility, including any sticker or other identification system and the prohibition of vehicle repair and maintenance activities in the Parking Facility. Landlord may, in its
discretion, allocate and assign parking passes among Tenant and the other tenants in the Building. Tenant’s use of the Parking Facility shall be at Tenant’s sole risk, and Landlord shall have no liability for damage to or theft of any
vehicles or other property occurring in the Parking Facility or otherwise in connection with any use of the Parking Facility by Tenant or its employees or invitees. Landlord may alter the size, configuration, design, layout or any other aspect of
the Parking Facility, and, in connection therewith, temporarily deny or restrict access to the Parking Facility, in each case without abatement of Rent or liability to Tenant. Landlord may delegate its responsibilities hereunder to a parking
operator, in which case (i) such parking operator shall have all the rights of control reserved herein by Landlord, (ii) Tenant shall enter into a parking agreement with such parking operator and (iii) Landlord shall have no liability
for claims arising through acts or omissions of such parking operator except to the extent caused by Landlord’s negligence or willful misconduct. Tenant’s parking rights under this Section 24 are solely for the benefit of
Tenant’s employees and invitees and such rights may not be transferred without Landlord’s prior consent, except pursuant to a Transfer permitted under Section 14. 

  
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 25 MISCELLANEOUS. 

25.1 Notices. Except as provided in Section 18, no notice, demand, statement, designation,
request, consent, approval, election or other communication given hereunder (“Notice”) shall be binding upon either party unless (a) it is in writing; (b) it is (i) sent by ce1tified or registered mail, postage
prepaid, return receipt requested, (ii) delivered by a nationally recognized courier service, or (iii) delivered personally; and (c) it is sent or delivered to the address set forth in Section 1.10 or 1.11, as
applicable, or to such other place (other than a P.O. box) as the recipient may from time to time designate in a Notice to the other party. Any Notice shall be deemed received on the earlier of the date of actual delivery or the date on which
delivery is refused, or, if Tenant is the recipient and has vacated its notice address without providing a new notice address, three (3) days after the date the Notice is deposited in the U.S. mail or with a courier service as described above.
No provision of this Lease requiring a particular Notice to be in writing shall limit the generality of clause (a) of the first sentence of this Section 25.1. 

25.2 Force Majeure. If either party is prevented from performing any obligation hereunder by any strike, act of God, fire, war,
terrorist act, shortage of labor or materials, governmental action (including, without limitation, governmentally required evacuations), civil commotion or other cause beyond such party’s reasonable control (“Force
Majeure”), such obligation shall be excused during (and any time period for the performance of such obligation shall be extended by) the period of such prevention; provided, however, that this Section 25.2 shall not
(a) permit Tenant to hold over in the Premises after the expiration or earlier termination hereof, or (b) excuse (or extend any time period for the performance of) (i) any obligation to remit money or deliver credit enhancement,
(ii) any obligation under Section 10 or 25.3, or (iii) any of Tenant’s obligations whose breach would interfere with another occupant’s use, occupancy or enjoyment of its premises or the Project or result in
any liability on the part of any Landlord Party. 
 25.3 Representations and Covenants. Tenant represents, warrants and
covenants that (a) Tenant is, and at all times during the Term will remain, duly organized, validly existing and in good standing under the Laws of the state of its formation and qualified to do business in the state of California;
(a) neither Tenant’s execution of nor its performance under this Lease will cause Tenant to be in violation of any agreement or Law; (c) Tenant (and any guarantor hereof) has not, and at no time during the Term will have,
(i) made a general assignment for the benefit of creditors, (ii) filed a voluntary petition in bankruptcy, (iii) suffered (A) the filing by creditors of an involuntary petition in bankruptcy that is not dismissed within 30 days,
(B) the appointment of a receiver to take possession of all or substantially all of its assets, or (C) the attachment or other judicial seizure of all or substantially all of its assets, (iv) admitted in writing its inability to pay
its debts as they come due, or (v) made an offer of settlement, extension or composition to its creditors generally; and (d) no party that (other than through the passive ownership of interests traded on a recognized securities exchange)
constitutes, owns, controls, or is owned or controlled by Tenant, any guarantor hereof or any subtenant of Tenant is, or at any time during the Term will be, (i) in violation of any Laws relating to terrorism or money laundering, or
(ii) among the parties identified on any list compiled pursuant to Executive Order 13224 for the purpose of identifying suspected terrorists or on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control
at its official website, http://www.treas.gov/ofac/tllsdn.pdf or any replacement website or other replacement official publication of such list. 

25.4 Signs. Landlord shall include Tenant’s name in any tenant directory located in the lobby on the first floor of the
Building. If any part of the Premises is located on a multi-tenant floor, Landlord, at Tenant’s cost, shall provide identifying suite signage for Tenant comparable to that provided by Landlord on similar floors in the Building. Tenant may not
install (a) any signs outside the Premises, or (b) without Landlord’s prior consent in its sole and absolute discretion, any signs, window coverings, blinds or similar items that are visible from outside the Premises. 

25.5 Supplemental HVAC. If the Premises are served by any supplemental HVAC unit (a “Unit”), then
(a) Tenant shall pay the costs of all electricity consumed in the Unit’s operation, together with the cost of installing a meter to measure such consumption; (b) Tenant, at its expense, shall (i) operate and maintain the Unit in
compliance with all applicable Laws and such reasonable rules and procedures as Landlord may impose; (ii) keep the Unit in as good working order and condition as existed upon installation (or, if later, when Tenant took possession of the
Premises), subject to normal wear and tear and damage resulting from Casualty; (iii) maintain in effect, with a contractor reasonably approved by Landlord, a contract for the maintenance and repair of the Unit, which contract shall require the
contractor, at least once every three (3) months, to inspect the Unit and provide to Tenant a report of any defective conditions, together with any recommendations for maintenance, repair or parts-replacement; (iv) follow all
reasonable recommendations of such contractor; and (v) promptly provide to Landlord a copy of such contract and each report issued thereunder; (c) the Unit shall become Landlord’s property upon installation and without
compensation to Tenant; provide d, however, that upon Landlord’s request at the expiration or earlier termination hereof, Tenant, at its expense, shall remove the Unit and repair any resulting damage (and if Tenant fails to timely perform such
work, Landlord may do so at Tenant’s expense); (d) the Unit shall be deemed (i) a Leasehold Improvement (except for purposes of Section 8), and (ii) for purposes of Section 11, part of the Premises; (e) if
the Unit exists on the date of mutual execution and delivery here of, Tenant accepts the Unit in its “as is” condition, without representation or warranty as to quality, condition, fitness for use or any other matter; (f) if the Unit
connects to the Building’s condenser water loop (if any), then Tenant shall pay to Landlord, as Additional Rent, Landlord’s standard one-time fee for such connection and Landlord’s standard
monthly per-ton 

  
 19 

 
usage fee; and (g) if any portion of the Unit is located on the roof, then (i) Tenant’s access to the roof shall be subject to such reasonable rules and procedures as Landlord may
impose; (ii) Tenant shall maintain the affected portion of the roof in a clean and orderly condition and shall not interfere with use of the roof by Landlord or any other tenants or licensees; and (iii) Landlord may relocate the Unit
and/or temporarily interrupt its operation, without liability to Tenant, as reasonably necessary to maintain and repair the roof or otherwise operate the Building. The parties acknowledge and agree that, as of the date of this Lease, no Unit
currently serves the Premises. 
 25.6 Attorneys’ Fees. In any action or proceeding between the parties, including any
appellate or alternative dispute resolution proceeding, the prevailing party may recover from the other party all of its costs and expenses in connection therewith, including reasonable attorneys’ fees and costs. 

25.7 Brokers. Tenant represents to Landlord that it has dealt only with Tenant’s Brokers as its broker in connection with
this Lease. Tenant shall indemnify, defend, and hold Landlord harmless from all claims of any brokers, other than Tenant’s Broker, claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify, defend and hold
Tenant harmless from all claims of any brokers, including Landlord’s Broker, claiming to have represented Landlord in connection with this Lease. 

25.8 Governing Law; WAIVER OF TRIAL BY JURY. This Lease shall be construed and enforced in accordance with the Laws of the State
of California. THE PARTIES WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY LITIGATION ARISING OUT OF OR RELATING TO THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES,
AND/OR ANY CLAIM FOR INJURY OR DAMAGE OR ANY EMERGENCY OR STATUTORY REMEDY. 
 25.9 Waiver of Statutory Provisions. Each party
waives California Civil Code §§ 1932(2), 1933(4) and 1945. Tenant waives (a) any rights under (i) California Civil Code§§ 1932(1), 1941, 1942, 1950.7 or any similar or replacement section or Law, or (ii) California
Code of Civil Procedure §§ 1263.260 or 1265.130 or any similar or replacement section or Law; and (b) any right to terminate this Lease under California Civil Code § 1995.310 or any similar or replacement section or Law. 

25.10 Interpretation. As used herein, the capitalized term “Section” refers to a section hereof unless otherwise
specifically provided herein. As used in this Lease, the terms “herein,” “hereof,” “hereto” and “hereunder” refer to this Lease and the term “include” and its derivatives are not limiting. Any
reference herein to “any part” or “any portion” of the Premises, the Property or any other property shall be construed to refer to all or any part of such property. As used herein in connection with insurance, the term
“deductible” includes self-insured retention. Wherever this Lease prohibits either party from engaging in any particular conduct, this Lease shall be deemed also to require such party to cause each of its employees and agents (and, in the
case of Tenant, each of its licensees, invitees and subtenants, and any other party claiming by, through or under Tenant) to refrain from engaging in such conduct. Wherever this Lease requires Landlord to provide a customary service or to act in a
reasonable manner (whether in incurring an expense, establishing a rule or regulation, providing an approval or consent, or performing any other act), this Lease shall be deemed also to provide that whether such service is customary or such conduct
is reasonable shall be determined by reference to the practices of owners of buildings (“Comparable Buildings”) that (i) are comparable to the Building in size, age, class, quality and location, and (ii) at
Landlord’s option, have been, or are being prepared to be, certified under the U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) rating system or a similar rating system. Tenant waives the benefit of any
rule that a written agreement shall be construed against the drafting party. 
 25.11 Entire Agreement. This Lease sets forth
the entire agreement between the parties relating to the subject matter hereof and supersedes any previous agreements (none of which shall be used to interpret this Lease). Tenant acknowledges that in entering into this Lease it has not relied upon
any representation, warranty or statement, whether oral or written, not expressly set forth herein. This Lease can be modified only by a written agreement signed by both parties. 

25.12 Other. Landlord, at its option, may cure any Default, without waiving any right or remedy or releasing Tenant from any
obligation, in which event Tenant shall pay Landlord, upon demand, the cost of such cure. If any provision hereof is void or unenforceable, no other provision shall be affected. Submission of this instrument for examination or signature by Tenant
does not constitute an option or offer to lease, and this instrument is not binding until it has been executed and delivered by both pa1ties. The voluntary or other surrender of this Lease by Tenant, whether accepted by Landlord or not, or a mutual
termination thereof, shall not work a merger, and at the option of Landlord shall operate as an assignment to Landlord of all subleases or subtenancies affecting the Premises or terminate any or all such sublessees or subtenancies. If Tenant is
comprised of two or more parties, their obligations shall be joint and several. Time is of the essence with respect to the performance of every provision hereof in which time of performance is a factor. So long as Tenant performs its obligations
hereunder, Tenant shall have peaceful and quiet possession of the Premises against any party claiming by, 

  
 20 

 
through or under Landlord, subject to the terms hereof. Landlord may transfer its interest herein, in which event (a) to the extent the transferee assumes in writing Landlord’s
obligations arising hereunder after the date of such transfer (including the return of any Security Deposit), Landlord shall be released from, and Tenant shall look solely to the transferee for the performance of, such obligations; and
(b) Tenant shall attorn to the transferee. If Tenant (or any party claiming by, through or under Tenant) pays directly to the provider for any energy consumed at the Property, Tenant, promptly upon request, shall deliver to Landlord (or, at
Landlord’s option, execute and deliver to Landlord an instrument enabling Landlord to obtain from such provider) any data about such consumption that Landlord, in its reasonable judgment, is required for benchmarking purposes or to disclose to
a prospective buyer, tenant or mortgage lender under any applicable Law. Landlord reserves all rights not expressly granted to Tenant hereunder, including the right to make alterations to the Project. No rights to any view or to light or air over
any property are granted to Tenant hereunder. The expiration or earlier termination hereof shall not relieve either party of any obligation that accrued before, or continues to accrue after, such expiration or termination. This Lease may be executed
in counterparts. 
 25.13 Fitness Center. Subject to the provisions of this Section 25.13, so long as Tenant is
not in Default under this Lease, and provided Tenant’s employees execute Landlord’s standard waiver of liability form then Tenant’s employees (the “Fitness Center Users”) shall be entitled to use (with no
monthly fee) the fitness center (the “Fitness Center”) in the Building. The use of the Fitness Center shall be subject to the reasonable rules and regulations (including rules regarding hours of use) established from time to
time by Landlord for the Fitness Center. Landlord and Tenant acknowledge that the use of the Fitness Center by the Fitness Center Users shall be at their own risk and that the terms and provisions of Section 10.1 of this Lease shall
apply to Tenant and the Fitness Center User’s use of the Fitness Center. The costs of operating, maintaining and repairing the Fitness Center may be included as part of Expenses. Tenant acknowledges that the provisions of this Section shall not
be deemed to be a representation by Landlord that Landlord shall continuously maintain the Fitness Center (or any other fitness facility) throughout the Term of this Lease, and Landlord shall have the right, at Landlord’s sole discretion, to
expand, contract, eliminate or otherwise modify the Fitness Center. No expansion, contraction, elimination or modification of the Fitness Center, and no termination of Tenant’s or the Fitness Center Users’ rights to the Fitness Center
shall entitle Tenant to an abatement or reduction in Rent, or constitute a constructive eviction, or result in an event of default by Landlord under this Lease. 

25.14. Shower Facility. Subject to the provisions of this Section 25.14, so long as Tenant is not in Default under
this Lease and provided Tenant’s employees execute Landlord’s standard waiver of liability form, Tenant employees (the “Shower Users”) shall be entitled to use (with no monthly fee) the shower facility (the
“Shower Facility”) in the Building. The use of the Shower Facility shall be subject to the reasonable rules and regulations (including rules regarding hours of use) established from time to time by Landlord for the Shower
Facility. Landlord and Tenant acknowledge that the use of the Shower Facility by the Shower Users shall be at their own risk and that the terms and provisions of Section 10.1 of this Lease shall apply to Tenant and the Shower User’s
use of the Shower Facility. The costs of operating, maintaining and repairing the Shower Facility shall be included as part of Expenses. Tenant acknowledges that the provisions of this Section shall not be deemed to be a representation by Landlord
that Landlord shall continuously maintain the Shower Facility throughout the Term, and Landlord shall have the right, at Landlord’s sole discretion, to expand, contract, eliminate or otherwise modify the Shower Facility. No expansion,
contraction, elimination or modification of the Shower Facility, and no termination of Tenant’s or the Shower User’s rights to the Shower Facility shall entitle Tenant to an abatement or reduction in Rent, constitute a constructive
eviction, or result in an event of default by Landlord under this Lease. 
 [SIGNATURES ARE ON THE FOLLOWING PAGE] 

  
 21 

 IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be executed the day and
date first above written. 
  

							
	LANDLORD:
	
	HUDSON METRO CENTER, LLC, a Delaware limited liability company
		
	By:	 	Hudson Pacific Properties, L.P., a Maryland limited partnership, its sole member
			
		 	By:	 	Hudson Pacific Properties, Inc., a Maryland corporation, its general partner
				
		 		 	By:	 	/s/ Arthur X. Suazo
		 		 	Name:	 	Arthur X. Suazo
		 		 	Title:	 	Executive Vice President

  

							
	TENANT:
	
	MIRUM PHARMACEUTICALS, INC., a Delaware corporation
		
	 By:
	 	 /s/ Michael Grey

	 Name:
	 	 Michael Grey

	 Title:
	 	 Chairman & CEO

		
	 By:
	 	 /s/ Christopher Peetz

	 Name:
	 	 Christopher Peetz

	 Title:
	 	 President

 EXHIBIT A 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

OUTLINE OF PREMISES 

See Attached 
 This Exhibit “A” is
provided for informational purposes only and is intended to be only an approximation of the layout of the Premises and shall not be deemed to constitute any representation by Landlord as to the exact layout or configuration of the Premises. 

 
 

 

 EXHIBIT B 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

WORK LETTER 
 As
used in this Exhibit B (this “Work Letter”), the following terms shall have the following meanings: 
  

	 	(i)	 “Tenant Improvements” means all improvements to be constructed in the Premises pursuant
to this Work Letter; 

  

	 	(ii)	 “Tenant Improvement Work” means the construction of the Tenant Improvements, together
with any related work (including demolition) that is necessary to construct the Tenant Improvements; and 

  

	 	(iii)	 “Agreement” means the lease of which this Work Letter is a part. 

1 COST OF TENANT IMPROVEMENT WORK. Except as provided in Sections 2.7.4 and 3.2.2.B below, the Tenant Improvement Work shall be
performed at Landlord’s expense. 
 2 ARCHITECTURAL PLANS. 

2.1 Selection of Architect. Landlord shall retain the architect/space planner of Landlord’s choice (the
“Architect”) to prepare the Architectural Drawings (defined in Section 2.5 below). 
 2.2 [Intentionally
Omitted.] 
 2.3 Approved Space Plan. Landlord and Tenant acknowledge that they have approved the space plan for the Premises
dated December 18, 2018 prepared by ID Architects (as more particularly described in the construction pricing proposal dated January 17, 2019, prepared by Rylko Builders Inc., as attached hereto as Exhibit
B-1, collectively the “Approved Space Plan”). All materials and finishes contemplated by the Approved Space Plan shall be deemed to be Building-standard. 

2.4 Additional Programming Information. Tenant shall deliver to Landlord, in writing, all information (including all interior
and special finishes) that, when combined with the Approved Space Plan, will be sufficient to complete the Architectural Drawings, together with all information (including all electrical requirements, telephone requirements, special HVAC
requirements, and plumbing requirements) that, when combined with the Approved Space Plan, will be sufficient to complete the Engineering Drawings (defined in Section 3.2.1 below) (collectively, the “Additional Programming
Information”). The Additional Programming Information shall not increase the cost of the Tenant Improvement Work (as reasonably estimated by Landlord) and shall be (a) consistent with the Approved Space Plan, (b) consistent
with Landlord’s requirements for avoiding aesthetic, engineering or other conflicts with the design and function of the balance of the Building (collectively, the “Landlord Requirements”), and (c) otherwise subject
to Landlord’s reasonable approval. Landlord shall provide Tenant with notice approving or reasonably disapproving the Additional Programming Information within five (5) business days after the later of Landlord’s receipt thereof or
the mutual execution and delivery of this Agreement. If Landlord disapproves the Additional Programming Information, Landlord’s notice of disapproval shall describe with reasonable specificity the basis for such disapproval and Tenant shall
modify the Additional Programming Information and resubmit it for Landlord’s approval. Such procedure shall be repeated as necessary until Landlord has approved the Additional Programming Information. Such approved Additional Programming
Information shall be referred to herein as the “Approved Additional Programming Information.” If requested by Tenant, Landlord, in its sole and absolute discretion, may assist Tenant, or cause the Architect and/or other
contractors or consultants of Landlord to assist Tenant, in preparing all or a portion of the Additional Programming Information; provided, however, that, whether or not the Additional Programming Information is prepared with such assistance, Tenant
shall be solely responsible for the timely preparation and delivery of the Additional Programming Information and for all elements thereof. 

2.5 Architectural Drawings. After approving the Additional Programming Information, Landlord shall cause the Architect to
prepare and deliver to Tenant the final architectural (and, if applicable, structural) working drawings for the Tenant Improvement Work that are in a form that (a) when combined with any Approved Additional Programming Information that is not
expressly incorporated into such working drawings, will be sufficient to enable the Contractor (defined in Section 3.1 below) and its subcontractors to bid on the Tenant Improvement Work, and (b) when combined with any Engineering Drawings
that satisfy the Engineering Requirements (defined in Section 3.2.1 below), will be sufficient to obtain the Permits (defined in Section 3.3 below) (the 

 
“Architectural Drawings”). The Architectural Drawings shall conform to the Approved Space Plan and the Approved Additional Programming Information. The Architect’s
preparation and delivery of the Architectural Drawings shall occur within l 5 business days after the later of Landlord’s approval of the Additional Programming Information or the mutual execution and delivery of this Agreement. Tenant shall
approve or disapprove the Architectural Drawings by notice to Landlord. If Tenant disapproves the Architectural Drawings, Tenant’s notice of disapproval shall specify any revisions Tenant desires in the Architectural Drawings. After receiving
such notice of disapproval, Landlord shall cause the Architect to revise the Architectural Drawings and resubmit them to Tenant, taking into account the reasons for Tenant’s disapproval; provided, however, that Landlord shall not be required to
cause the Architect to make any revision to the Architectural Drawings that (a) would increase the cost of the Tenant Improvement Work (as reasonably estimated by Landlord), (b) conflicts with the Approved Space Plan or the Landlord
Requirements, or (c) is otherwise reasonably disapproved by Landlord. Such revision and resubmission shall occur within five (5) business days after the later of Landlord’s receipt of Tenant’s notice of disapproval or the mutual
execution and delivery of this Agreement if such revision is not material, and within such longer period of time as may be reasonably necessary (but not more than 15 business days after the later of such receipt or such mutual execution and
delivery) if such revision is material. Such procedure shall be repeated as necessary until Tenant has approved the Architectural Drawings. Such approved Architectural Drawings shall be referred to herein as the “Approved Architectural
Drawings.” 
 2.6 [Intentionally Omitted.] 

2.7 Revisions to Approved Architectural Drawings, Approved Additional Programming Information, or Approved Space Plan.

 2.7.1 Approved Architectural Drawings. If Tenant requests any revision to the Approved Architectural Drawings, Landlord shall
provide Tenant with notice approving or reasonably disapproving such revision, and, if Landlord approves such revision, Landlord shall have such revision made and delivered to Tenant, together with notice of any resulting change in the estimated
total cost associated with the Tenant Improvement Work, within 10 business days after the later of Landlord’s receipt of such request or the mutual execution and delivery of this Agreement if such revision is not material, and within such
longer period of time as may be reasonably necessary (but not more than 15 business days after the later of such receipt or such execution and delivery) if such revision is material, whereupon Tenant, within one (1) business day, shall notify
Landlord whether it desires to proceed with such revision. If Landlord has begun pe1forming the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall have the option to continue such performance disregarding such
revision. Landlord shall not revise the Approved Architectural Drawings without Tenant’s consent, which shall not be unreasonably withheld or conditioned. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity,
its reasons for disapproving), any revision to the Approved Architectural Drawings within two (2) business days after receiving Landlord’s request for approval thereof. For purposes hereof, any change order affecting the Approved
Architectural Drawings shall be deemed a revision to the Approved Architectural Drawings. 
 2.7.2 Approved Additional Programming
Information. If Tenant requests Landlord’s approval of any revision to the Approved Additional Programming Information, Landlord shall provide Tenant with notice approving or reasonably disapproving such revision, together with notice of
any resulting change in the estimated total cost associated with the Tenant Improvement Work, within five (5) business days after the later of Landlord’s receipt of such request or the mutual execution and delivery of this Agreement,
whereupon Tenant, within two (2) business days, shall notify Landlord whether it desires to proceed with such revision. If Landlord has begun performing the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall
have the option to continue such performance disregarding such revision. Landlord shall not revise the Approved Additional Programming Information without Tenant’s consent, which shall not be unreasonably withheld or conditioned. Tenant shall
approve, or reasonably disapprove (and state, with reasonable specificity, its reasons for disapproving), any revision to the Approved Additional Programming Information within two (2) business days after receiving Landlord’s request for
approval thereof. 
 2.7.3 Approved Space Plan. If Tenant requests Landlord’s approval of any revision to the Approved Space
Plan, Landlord shall provide Tenant with notice approving or reasonably disapproving such revision, together with notice of any resulting change in the estimated total cost associated with the Tenant Improvement Work, within five (5) business
days after the later of Landlord’s receipt of such request or the mutual execution and delivery of this Agreement, whereupon Tenant, within one (1) business day, shall notify Landlord whether it desires to proceed with such revision. If
Landlord has begun performing the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall have the option to continue such performance disregarding such revision. Landlord shall not revise the Approved Space Plan without
Tenant’s consent, which shall not be unreasonably withheld or conditioned. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity, its reasons for disapproving), any revision to the Approved Space Plan within two
(2) business days after receiving Landlord’s request for approval thereof. 

 2.7.4 Costs of Revisions. Tenant shall reimburse Landlord, immediately upon demand,
for any increase in the total cost associated with the Tenant Improvement Work that results from any revision to the Approved Architectural Drawings requested by Tenant, any revision to the Approved Additional Programming Information made by Tenant,
or any revision to the Approved Space Plan requested or made by Tenant, including, in each case, any cost of preparing or reviewing such revision. 

2.8 Tenant’s Approval Deadline. Tenant shall approve the Architectural Drawings pursuant to Section 2.5 above
on or before Tenant’s Approval Deadline (defined below). As used in this Work Letter, “Tenant’s Approval Deadline” means the date occurring 55 business days after the mutual execution and delivery of this Agreement;
provided, however, that Tenant’s Approval Deadline shall be extended by one (1) day for each day, if any, by which Tenant’s approval of the Architectural Drawings pursuant to Section 2.5 above is delayed by any failure of
Landlord to perform its obligations under this Section 2. 
 3 CONSTRUCTION. 

3.1 Contractor. Landlord shall retain a contractor of its choice (the “Contractor”) to perform the Tenant
Improvement Work. In addition, Landlord may select and/or approve of any subcontractors, mechanics and materialmen used in connection with the performance of the Tenant Improvement Work. 

3.2 Engineering Drawings. 

3.2.1 Preparation. Landlord shall cause the engineering working drawings for the mechanical, electrical, plumbing, fire-alarm and fire
sprinkler work in the Premises (the “Engineering Drawings”) to (a) be prepared by one or more of the Architect, the Contractor, and/or engineers or other consultants selected and/or retained by the Architect, the
Contractor or Landlord, and (b) conform to the Approved Space Plan, the Approved Additional Programming Information, the first sentence of Section 4 below, and any then-existing Approved Architectural Drawings (collectively, the
“Engineering Requirements”). 
 3.2.2 Design Build. Except as provided in Section 3.2.3 below: 

A. Delivery and Approval. The Engineering Drawings shall be delivered to Tenant within 15 business days after the later of
Tenant’s approval of the Architectural Drawings pursuant to Section 2.5 above or the mutual execution and delivery of this Agreement. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity, its
reasons for disapproving), the Engineering Drawings within two (2) business days after the latest of (a) Tenant’s receipt of the Engineering Drawings, (b) Tenant’s approval of the Architectural Drawings, or (c) the
mutual execution and delivery of this Agreement. After receiving any such notice of reasonable disapproval, Landlord shall cause the Contractor to revise the Engineering Drawings and resubmit them to Tenant, taking into account the reasons for
Tenant’s disapproval; provided, however, that Landlord shall not be required to make any revision to the Engineering Drawings that conflicts with the Engineering Requirements or the Landlord Requirements or is otherwise reasonably disapproved
by Landlord. Such procedure shall be repeated as necessary until Tenant has reasonably approved the Engineering Drawings. Such approved Engineering Drawings shall be referred to herein as the “Approved Engineering Drawings”. 

B. Revisions. If Tenant requests any revision to the Approved Engineering Drawings, Landlord shall provide Tenant with notice
approving or reasonably disapproving such revision, and, if Landlord approves such revision, Landlord shall have such revision made and delivered to Tenant, together with notice of any resulting change in the estimated total cost associated with the
Tenant Improvement Work, within five (5) business days after the later of Landlord’s receipt of such request or the mutual execution and delivery of this Agreement if such revision is not material, and within such longer period of time as
may be reasonably necessary (but not more than 10 business days after the later of such receipt or such execution and delivery) if such revision is material, whereupon Tenant, within one (1) business day, shall notify Landlord whether it
desires to proceed with such revision. If Landlord has begun performing the Tenant Improvement Work, then, in the absence of such authorization, Landlord shall have the option to continue such performance disregarding such revision. Landlord shall
not revise the Approved Engineering Drawings without Tenant’s consent, which shall not be unreasonably withheld or conditioned. Tenant shall approve, or reasonably disapprove (and state, with reasonable specificity, its reasons for
disapproving), any revision to the Approved Engineering Drawings within two (2) business days after receiving Landlord’s request for approval thereof. Any change order affecting the Approved Engineering Drawings shall be deemed a revision
to the Approved Engineering Drawings. Tenant shall reimburse Landlord, immediately upon demand, for any increase in the total cost associated with the Tenant Improvement Work that results from any revision to the Approved Engineering Drawings
requested by Tenant, including the cost of preparing such revision. 

  
 26 

 3.2.3 Design Bid Build. If Landlord, at its option, causes the Engineering Drawings
to be delivered to Tenant on or before the date on which the Architectural Drawings are first delivered to Tenant pursuant to Section 2.5 above, then (a) Section 3.2.2 above shall not apply; (b) Tenant’s review
and approval of, and any revisions to, the Engineering Drawings shall be governed by Sections 2.5 and 2.7 above as if the Engineering Drawings were part of the Architectural Drawings; and (c) the Engineering Drawings, as approved
by Ten ant pursuant to Section 2.5 above, shall be reflected to herein as the “Approved Engineering Drawings”. 

3.3 Permits. Landlord shall cause the Contractor to submit the Approved Architectural Drawings and the Approved Engineering
Drawings (collectively, the “Approved Construction Drawings”) to the appropriate municipal authorities and otherwise apply for and obtain from such authorities all permits necessary for the Contractor to complete the Tenant
Improvement Work (the “Permits”). 
 3.4 Construction. 

3.4.1 Performance of Tenant Improvement Work. Landlord shall cause the Contractor to perform the Tenant Improvement Work in accordance
with the Plans. 
 3.4.2 Contractor’s Warranties. Tenant waives all claims against Landlord relating to any defects in the
Tenant Improvements; provided, however, that if, within 30 days after substantial completion of the Tenant Improvement Work, Tenant provides notice to Landlord of any non-latent defect in the Tenant
Improvements, or if, within 11 months after substantial completion of the Tenant Improvement Work, Tenant provides notice to Landlord of any latent defect in the Tenant Improvements, then Landlord shall promptly cause such defect to be corrected.

 4 COMPLIANCE WITH LAW; SUITABILITY FOR TENANT’S USE. Landlord shall (a) cause the Approved Space Plan, the Additional Programming
Information, the Architectural Drawings and the Engineering Drawings (collectively, the “Plans”) to comply with Law; provided, however, that Landlord shall not be responsible for any violation of Law resulting from any
particular use of the Premises (as distinguished from general office use). Tenant shall be responsible for ensuring that the Plans are suitable for Tenant’s use of the Premises, and neither the preparation of the Plans by Landlord’s
consultants nor Landlord’s approval of the Plans shall relieve Tenant from such responsibility. To the extent that Landlord is responsible under this Section 4 for causing the Plans to comply with Law, Landlord may contest any
alleged violation of Law in good faith, including by seeking a waiver or deferment of compliance, asserting any defense allowed by Law, and exercising any right of appeal (provided that Tenant incurs no liability as a result of such contest and
that, after completing such contest, Landlord makes any modification to the Plans or any alteration to the Premises that is necessary to comply with any final order or judgment). 

5 COMPLETION. 
 5.1 Substantial
Completion. For purposes of Section 1.3.2 of this Agreement, and subject to Section 5.2 below, the Tenant Improvement Work shall be deemed to be “Substantially Complete” upon the completion of
the Tenant Improvement Work pursuant to the Approved Construction Drawings (as reasonably determined by Landlord), with the exception of any details of construction, mechanical adjustment or any other similar matter the non-completion of which does not materially interfere with Tenant’s use of the Premises. 
 5.2
Tenant Cooperation; Tenant Delay. Tenant shall use reasonable efforts to cooperate with Landlord, the Architect, the Contractor, and Landlord’s other consultants to complete all phases of the Plans, obtain the Permits and complete
the Tenant Improvement Work as soon as possible, and Tenant shall meet with Landlord, in accordance with a schedule determined by Landlord, to discuss the parties’ progress. Without limiting the foregoing, if (i) the Tenant Improvements
include the installation of electrical connections for furniture stations to be installed by Ten ant, and (ii) any electrical or other portions of such furniture stations must be installed in order for Landlord to obtain any governmental
approval required for occupancy of the Premises, then (x) Tenant, upon five (5) business days’ notice from Landlord, shall promptly install such portions of such furniture stations in accordance with Sections 7.2 and 7.3
of this Lease, and (y) during the period of Tenant’s entry into the Premises for the purpose of performing such installation, all of Tenant’s obligations under this Agreement relating to the Premises shall apply, except for the
obligation to pay Monthly Rent. In addition, without limiting the foregoing, if the Substantial Completion of the Tenant Improvement Work is delayed (a “Tenant Delay”) as a result of (a) any failure of Tenant to approve
the Architectural Drawings pursuant to Section 2.5 above on or before Tenant’s Approval Deadline; (b) any failure of Tenant to timely approve the Engineering Drawings, pursuant to Section 3.2.2.A above, for any
reason other than their failure to satisfy the Engineering Requirements; (c) any failure of Tenant to timely approve any other matter requiring Tenant’s approval; (d) any breach by Tenant of this Work Letter or this Agreement;
(e) any request by Tenant for any revision to, or for Landlord’s approval of any revision to, any portion of the Plans that has previously been approved by both parties (except to the extent that such delay results from a breach by
Landlord of its obligations under Section 2.7 or 3.2.2.B above); (f) [Intentionally Omitted]; 

 
(g) [Intentionally Omitted]; or (h) any other act or omission of Tenant or any of its agents, employees or representatives, then, notwithstanding any contrary provision of this Agreement,
and regardless of when the Tenant Improvement Work is actually Substantially Completed, the Tenant Improvement Work shall be deemed to be Substantially Completed on the date on which the Tenant Improvement Work would have been Substantially
Completed if no such Tenant Delay had occurred. Notwithstanding the foregoing, Landlord shall not be required to tender possession of the Premises to Tenant before the Tenant Improvement Work has been Substantially Completed, as determined without
giving effect to the preceding sentence. Notwithstanding the foregoing, if Landlord fails to notify Tenant of any Tenant Delay within one (1) day after the date Landlord knew of such Tenant Delay, Tenant shall not be responsible for any such
Tenant Delay with respect to the period of time commencing two (2) days after the date when Landlord knew that such Tenant Delay existed and ending on the date that Landlord notified Tenant of such Tenant Delay. Notwithstanding
Section 25.1 of this Lease, Landlord’s notice to Tenant of any Tenant Delay may be given orally, by e-mail, or by any other method. 

6 MISCELLANEOUS. Notwithstanding any contrary provision of this Agreement, if Tenant Defaults under this Agreement before the Tenant Improvement
Work is completed, Landlord’s obligations under this Work Letter shall be excused until such Default is cured and Tenant shall be responsible for any resulting delay in the completion of the Tenant Improvement Work. This Work Letter shall not
apply to any space other than the Premises. 

 EXHIBIT B-1 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

APPROVED SPACE PLAN 
  

 

 

 

 

 

 

 

 

 

 EXHIBIT C 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

CONFIRMATION LETTER 

 ________________________, 20__ 
  

			
	To:	  	                                      
      
		  	                                      
      
		  	                                      
      
		  	                                      
      

  

	Re:	 Office Lease (the “Lease”) dated _____________, 20__, between HUDSON METRO CENTER,
LLC, a Delaware limited liability company (“Landlord”), and MIRUM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”), concerning Suite 1000 on the 10th floor of the building located at
950 Tower Lane, Foster City, California. 

 Dear _________________: 

In accordance with the Lease, Tenant accepts possession of the Premises and confirms the following: 

 

	 	1.	 The Commencement Date is ______________ and the Expiration Date is ______________. 

 

	 	2.	 The exact number of rentable square feet within the Premises is 5,599 square feet. 

 

	 	3.	 Tenant’s Share, based upon the exact number of rentable square feet within the Premises, is 1.3663%.

 Please acknowledge the foregoing by signing all three (3) counterpm1s of this letter in the space provided below
and returning two (2) fully executed counterparts to my attention. Please note that, pursuant to Section 2.1.1 of the Lease, if Tenant fails to execute and return (or, by notice to Landlord, reasonably object to) this
letter within five (5) business days after receiving it, Tenant shall be deemed to have executed and returned it without exception. 
  

							
	“Landlord”:
	
	HUDSON METRO CENTER, LLC, a Delaware limited liability company
		
	By:	 	Hudson Pacific Properties, L.P., a Maryland limited partnership, its sole member
			
		 	By:	 	Hudson Pacific Properties, Inc., a Maryland corporation, its general partner

 
							
				
		 		 	By:	 	 
		 		 	Name:	 	 
		 		 	Title:	 	 

 Agreed and Accepted as of
                 , 20__ 
  

			
	“Tenant”:
	
	MIRUM PHARMACEUTICALS, INC., a Delaware corporation

			
		
	By:	 	 
	Name:	 	 
	Title:	 	 

 EXHIBIT D 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

RULES AND REGULATIONS 

Tenant shall comply with the following rules and regulations (as modified or supplemented from time to time, the “Rules and
Regulations”). Landlord shall not be responsible to Tenant for the nonperformance of any of the Rules and Regulations by any other tenants or occupants of the Project. In the event of any conflict between the Rules and Regulations
and the other provisions of this Lease, the latter shall control. 
 1. Tenant shall not alter any lock or install any new or additional
locks or bolts on any doors or windows of the Premises without obtaining Landlord’s prior consent. Tenant shall bear the cost of any lock changes or repairs required by Tenant. Two (2) keys will be furnished by Landlord for the Premises,
and any additional keys required by Tenant must be obtained from Landlord at a reasonable cost to be established by Landlord. Upon the termination of this Lease, Tenant shall restore to Landlord all keys of stores, offices and toilet rooms furnished
to or otherwise procured by Tenant, and if any such keys are lost, Tenant shall pay Landlord the cost of replacing them or of changing the applicable locks if Landlord deems such changes necessary. 

2. All doors opening to public corridors shall be kept closed at all times except for normal ingress and egress to the Premises. 

3. Landlord may close and keep locked all entrance and exit doors of the Building during such hours as are customary for Comparable Buildings.
Tenant shall cause its employees, agents, contractors, invitees and licensees who use Building doors during such hours to securely close and lock them after such use. Any person entering or leaving the Building during such hours, or when the
Building doors are otherwise locked, may be required to sign the Building register, and access to the Building may be refused unless such person has proper identification or has a previously arranged access pass. Landlord will furnish passes to
persons for whom Tenant requests them. Tenant shall be responsible for all persons for whom Tenant requests passes and shall be liable to Landlord for all acts of such persons. Landlord and its agents shall not be liable for damages for any error
with regard to the admission or exclusion of any person to or from the Building. In case of invasion, mob, riot, public excitement or other commotion, Landlord may prevent access to the Building or the Project during the continuance thereof by any
means it deems appropriate for the safety and protection of life and property. 
 4. No furniture, freight or equipment shall be brought
into the Building without prior notice to Landlord. All moving activity into or out of the Building shall be scheduled with Landlord and done only at such time and in such manner as Landlord designates. Landlord may prescribe the weight, size and
position of all safes and other heavy property brought into the Building and also the times and manner of moving the same in and out of the Building. Safes and other heavy objects shall, if considered necessary by Landlord, stand on supports of such
thickness as is necessary to properly distribute the weight. Landlord will not be responsible for loss of or damage to any such safe or property. Any damage to the Building, its contents, occupants or invitees resulting from Tenant’s moving or
maintaining any such safe or other heavy property shall be the sole responsibility and expense of Tenant (notwithstanding Sections 7 and 10.4 of this Lease). 

5. No furniture, packages, supplies, equipment or merchandise will be received in the Building or carried up or down in the elevators, except
between such hours, in such specific elevator and by such personnel as shall be designated by Landlord. 
 6. Employees of Landlord shall
not perform any work or do anything outside their regular duties unless under special instructions from Landlord. 
 7. No sign,
advertisement, notice or handbill shall be exhibited, distributed, painted or affixed by Tenant on any part of the Premises or the Building without Landlord’s prior consent. Tenant shall not disturb, solicit, peddle or canvass any occupant of
the Project. 
 8. The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which
they were constructed, and no foreign substance shall be thrown therein. Notwithstanding Sections 7 and 10.4 of this Lease, Tenant shall bear the expense of any breakage, stoppage or damage resulting from any violation of this rule by
Tenant or any of its employees, agents, contractors, invitees or licensees. 

 9. Tenant shall not overload the floor of the Premises, or mark, drive nails or screws or
drill into the partitions, woodwork or drywall of the Premises, or otherwise deface the Premises, without Landlord’s prior consent. Tenant shall not purchase bottled water, ice, towel, linen, maintenance or other like services from any person
not approved by Landlord. 
 10. Except for vending machines intended for the sole use of Tenant’s employees and invitees, no vending
machine or machines other than fractional horsepower office machines shall be installed, maintained or operated in the Premises without Landlord’s prior consent. 

11. Tenant shall not, without Landlord’s prior consent, use, store, install, disturb, spill, remove, release or dispose of, within or
about the Premises or any other portion of the Project, any asbestos-containing materials, any solid, liquid or gaseous material now or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601 et seq. or any
other applicable environmental Law, or any inflammable, explosive or dangerous fluid or substance; provided, however, that Tenant may use, store and dispose of such substances in such amounts as are typically found in similar premises used for
general office purposes provided that such use, storage and disposal does not damage any part of the Premises, Building or Project and is performed in a safe manner and in accordance with all Laws. Tenant shall comply with all Laws pertaining to and
governing the use of such materials by Tenant and shall remain solely liable for the costs of abatement and removal. No burning candle or other open flame shall be ignited or kept by Tenant in or about the Premises, Building or Project. 

12. Tenant shall not, without Landlord’s prior consent, use any method of heating or air conditioning other than that supplied by
Landlord or any Unit. 
 13. Tenant shall not use or keep any foul or noxious gas or substance in or on the Premises, or occupy or use the
Premises in a manner offensive or objectionable to Landlord or other occupants of the Project by reason of noise, odors or vibrations, or interfere with other occupants or those having business therein, whether by the use of any musical instrument,
radio, CD player or otherwise. Tenant shall not throw anything out of doors, windows or skylights or down passageways. 
 14. Tenant shall
not bring into or keep within the Project, the Building or the Premises any animals (other than service animals), birds, aquariums, or, except in areas designated by Landlord, bicycles or other vehicles. 

15. No cooking shall be done in the Premises, nor shall the Premises be used for lodging, for living quarters or sleeping apartments, or for
any improper, objectionable or immoral purposes. Notwithstanding the foregoing, Underwriters’ laboratory-approved equipment and microwave ovens may be used in the Premises for heating food and brewing coffee, tea, hot chocolate and similar
beverages for employees and invitees, provided that such use complies with all Laws. 
 16. The Premises shall not be used for manufacturing
or for the storage of merchandise except to the extent such storage may be incidental to the Permitted Use. Tenant shall not occupy the Premises as an office for a messenger-type operation or dispatch office, public stenographer or typist, or for
the manufacture or sale of liquor, narcotics or tobacco, or as a medical office, a barber or manicure shop, or an employment bureau, without Landlord’s prior consent. Tenant shall not engage or pay any employees in the Premises except those
actually working for Tenant in the Premises, nor advertise for laborers giving an address at the Premises. 
 17. Landlord may exclude from
the Project any person who, in Landlord’s judgment, is intoxicated or under the influence of liquor or drugs, or who violates any of these Rules and Regulations. 

18. Tenant shall not loiter in or on the entrances, corridors, sidewalks, lobbies, courts, halls, stairways, elevators, vestibules or any
Common Areas for the purpose of smoking tobacco products or for any other purpose, nor in any way obstruct such areas, and shall use them only as a means of ingress and egress for the Premises. 

19. Tenant shall not waste electricity, water or air conditioning, shall cooperate with Landlord to ensure the most effective operation of the
Building’s heating and air conditioning system, and shall not attempt to adjust any controls. Tenant shall install and use in the Premises only ENERGY STAR rated equipment, where available. Tenant shall use recycled paper in the Premises to the
extent consistent with its business requirement’s. 
 20. Tenant shall store all its trash and garbage inside the Premises. No material
shall be placed in the trash or garbage receptacles if, under Law, it may not be disposed of in the ordinary and customary manner of disposing of trash and garbage in the vicinity of the Building. All trash, garbage and refuse disposal shall be made
only through entryways and elevators provided for such purposes at such times as Landlord shall designate. Tenant shall comply with Landlord’s recycling program, if any. 

 21. Tenant shall comply with all safety, fire protection and evacuation procedures and
regulations established by Landlord or any governmental agency. 
 22. Any persons employed by Tenant to do janitorial work (a) shall
be subject to Landlord’s prior consent; (b) shall not, in Landlord’s reasonable judgment, disturb labor harmony with any workforce or trades engaged in performing other work or services at the Project; and (c) while in the
Building and outside of the Premises, shall be subject to the control and direction of the Building manager (but not as an agent or employee of such manager or Landlord), and Tenant shall be responsible for all acts of such persons. 

23. No awning or other projection shall be attached to the outside walls of the Building without Landlord’s prior consent. Other than
Landlord’s Building-standard window coverings, no curtains, blinds, shades or screens shall be attached to or hung in, or used in connection with, any window or door of the Premises. All electrical ceiling fixtures hung in the Premises or
spaces along the perimeter of the Building must be fluorescent and/or of a quality, type, design and a warm white bulb color approved in advance by Landlord. Neither the interior nor exterior of any windows shall be coated or otherwise sunscreened
without Landlord’s prior consent. Tenant shall abide by Landlord’s regulations concerning the opening and closing of window coverings. 

24. Tenant shall not obstruct any sashes, sash doors, skylights, windows or doors that reflect or admit light or air into the halls,
passageways or other public places in the Building, nor shall Tenant place any bottle s, parcels or other articles on the windowsills. 

25. Tenant must comply with requests by Landlord concerning the informing of their employees of items of importance to the Landlord. 

26. Tenant must comply with the State of California “No-Smoking” law set forth in California
Labor Code Section 6404.5 and with any local “No-Smoking” ordinance that is not superseded by such law. 

27. Tenant shall cooperate m any reasonable safety or security program developed by Landlord or required by Law. 

28. All office equipment of an electrical or mechanical nature shall be placed by Tenant in the Premises in settings approved by Landlord, to
absorb or prevent any vibration, noise or annoyance. 
 29. Tenant shall not use any hand trucks except those equipped with rubber tires and
rubber side guards. 
 30. No auction, liquidation, fire sale, going-out-of-business or bankruptcy sale shall be conducted in the Premises without Landlord’s prior consent. 

31. Without Landlord’s prior consent, Tenant shall not use the name of the Project or Building or use pictures or illustrations of the
Project or Building in advertising or other publicity or for any purpose other than as the address of the business to be conducted by Tenant in the Premises. 

32. Fitness Center Rules. Tenant shall cause its employees (whether members or prospective members of the Fitness Center) to comply with the
following Fitness Center rules and regulations (subject to change from time to time as Landlord may solely determine): 
  

	 	A.	 Membership in the Fitness Center is open to the tenants of the Building. No guests will be permitted to use the
Fitness Center without the prior written approval of Landlord or Landlord’s representative. 

  

	 	B.	 Fitness Center users are not allowed to be in the Fitness Center other than the hours designated by Landlord
from time to time. Landlord shall have the right to alter the hours of use of the Fitness Center, at Landlord’s sole discretion. 

  

	 	C.	 All Fitness Center users must execute Landlord’s Waiver of Liability prior to use of the Fitness Center
and agree to all terms and conditions outlined therein. 

  

	 	D.	 Individual membership and guest keycards to the Fitness Center shall not be shared and shall only be used by
the individual to whom such keycard was issued. Failure to abide by this rule may result in immediate termination of such Fitness Center user’s right to use the Fitness Center. 

	 	E.	 All Fitness Center users and approved guests must have a pre-authorized
keycard to enter the Fitness Center. A pre-authorized keycard shall not be issued to a prospective Fitness Center user until receipt by Landlord of Landlord’s initial fee, if any, for use of the Fitness
Center by such Fitness Center user(s). 

  

	 	F.	 Use of the Fitness Center is a privilege and not a right. Failure to follow gym rules or to act inappropriately
while using the facilities shall result in termination of Tenant’s Fitness Center privileges. 

 Landlord may from
time to time (upon no less than 10 business days’ notice) modify or supplement these Rules and Regulations in a manner that, in Landlord’s reasonable judgment, is appropriate for the management, safety, care and cleanliness of the
Premises, the Building, the Common Areas and the Project, for the preservation of good order therein, and for the convenience of other occupants and tenants thereof, provided that no such modification or supplement shall materially reduce
Tenant’s rights or materially increase Tenant’s obligations hereunder. Landlord may waive any of these Rules and Regulations for the benefit of any tenant, but no such waiver shall be construed as a waiver of such Rule and Regulation in
favor of any other tenant nor prevent Landlord from thereafter enforcing such Rule and Regulation against any tenant. Notwithstanding the foregoing, no rule that is added to the initial Rules and Regulations shall be enforced against Tenant in a
manner that unreasonably discriminates in favor of any other similarly situated tenant. 

 EXHIBIT E 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

JUDICIAL REFERENCE 

IF THE JURY-WAIVER PROVISIONS OF SECTION 25.8 OF THIS LEASE ARE NOT ENFORCEABLE UNDER CALIFORNIA LAW, THE PROVISIONS SET FORTH BELOW
SHALL APPLY. 
 (a) It is the desire and intention of the parties to agree upon a mechanism and procedure under which controversies and
disputes arising out of this Lease or related to the Premises will be resolved in a prompt and expeditious manner. Accordingly, subject to the exclusions set forth in (b) below, any and every action, proceeding or cross-claim brought by either
patty hereto against the other (and/or against its officers, directors, employees, agents or subsidiaries or affiliated entities) on any matters arising out of or in any way connected with this Lease, Tenant’s use or occupancy of the Premises
and/or any claim of injury or damage, whether sounding in contract, tort, or otherwise, shall be heard and resolved by a referee under the provisions of the California Code of Civil Procedure, Sections 638 - 645.1, inclusive (as same may be amended,
or any successor statute(s) thereto) (the “Referee Sections”). 
 (b) Excluded from the requirement of judicial reference set
forth above are (i) actions to seek emergency injunctive relief, preliminary injunctive relief, unlawful or forcible detainer, or a prejudgment writ of attachment and (ii) any dispute for which an alternative dispute resolution procedure
is otherwise expressly provided in the Lease (including any exhibits thereto). The actions described in (i) above may be brought in the trial court in the county in which the Premises are located; provided, however, that as soon as practicable
after the trial court rules on one or more of the above issues, the patties shall refer the lawsuit, and any remaining issues, controversies, or disputes to a referee, as provided in this section and the Referee Sections. 

(c) Any fee to initiate the judicial reference proceedings and all fees charged and costs incurred by the referee shall be paid by the party
initiating such procedure (except that if a reporter is requested by either party, then a reporter shall be present at all proceedings where requested and the fees of such reporter - except for copies ordered by the other parties - shall be borne by
the party requesting the reporter); provided however, that allocation of the costs and fees, including any initiation fee, of such proceeding shall be ultimately determined in accordance with Section 25.6 of this Lease. 

(d) The exclusive venue of the proceedings shall be in the county in which the Premises are located. 

(e) Within IO days of receipt by any party of a request to resolve any dispute or controversy pursuant to this Exhibit E,
the parties shall agree upon a single referee who shall try all issues, whether of fact or law, and report a finding and judgment on such issues as required by the Referee Sections. If the parties are unable to agree upon a referee within such 10-day period, then any party may thereafter file a lawsuit in the county in which the Premises are located for the purpose of appointment of a referee under the Referee Sections. If the referee is appointed by the
cou1t, the referee shall be a neutral and impa1tial retired judge with substantial experience in the relevant matters to be determined, from the panels offered by JAMS or ADR Services, Inc. The proposed referee may be challenged by any party for any
of the grounds listed in the Referee Sections. The referee shall have the power to decide all issues of fact and law and report his or her decision on such issues, and to issue all recognized remedies available at law or in equity for any cause of
action that is before the referee, including an award of attorneys’ fees and costs in accordance with this Lease. The referee shall not, however, have the power to award punitive damages, nor shall the referee have the power to award any other
damages that are not permitted by the express provisions of this Lease, and the parties waive any right to recover such damages. 
 (f) The
parties may conduct all discovery as provided in the California Code of Civil Procedure, and the referee shall oversee discovery and may enforce all discovery orders in the same manner as any trial court judge, with rights to regulate discovery and
to issue and enforce subpoenas, protective orders and other limitations on discovery available under California Law. 
 (g) The reference
proceeding shall be conducted in accordance with California Law (including the rules of evidence), and in all regards, the referee shall follow California Law applicable at the time of the reference proceeding. The parties shall promptly and
diligently cooperate with one another and the referee, and shall perform such acts as may be necessary to obtain a prompt and expeditious resolution of the dispute or controversy in accordance with the terms of this Exhibit E.
In this regard, the parties agree that the parties and the referee shall use best efforts to ensure that (a) discovery, including all expe1t discovery (but excluding motions regarding discovery) be concluded within six (6) months of
the date of the appointment of the referee, and (b) a trial date be set so that the trial proceeding is held no more than nine (9) months after the date of the appointment of the referee. 

 (h) In accordance with Section 644 of the California Code of Civil Procedure, the
decision of the referee upon the whole issue must stand as the decision of the court, and upon the filing of the statement of decision with the clerk of the court, or with the judge if there is no clerk, judgment may be entered thereon in the same
manner as if the action had been tried by the court. Any decision of the referee and/or judgment or other order entered thereon shall be appealable to the same extent and in the same manner that such decision, judgment, or order would be appealable
if rendered by a judge of the superior court in which venue is proper hereunder. The referee shall in his/her statement of decision set forth his/her findings of fact and conclusions of law. The parties intend this general reference agreement to be
specifically enforceable in accordance with the Code of Civil Procedure. Nothing in this Exhibit E shall prejudice the right of any party to obtain provisional relief or other equitable remedies from a court of competent jurisdiction
as shall otherwise be available under the Code of Civil Procedure and/or applicable court rules. 

 EXHIBIT F 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

ADDITIONAL PROVISIONS 
  

	1.	 California Civil Code Section 1938. Pursuant to California Civil Code § 1938, Landlord
hereby states that the Premises have not undergone inspection by a Certified Access Specialist (CASp) (defined in California Civil Code§ 55.52). 

Accordingly, pursuant to California Civil Code § 1938(e), Landlord hereby further hereby states as follows: “A Ce1tified Access
Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of
the subject premises, the commercial property owner or lessor may not prohibit the Lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee
or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of
construction-related accessibility standards within the premises”. 
 In accordance with the foregoing, Landlord and Tenant agree that
if Tenant requests a CASp inspection of the Premises, then Tenant shall pay (i) the fee for such inspection, and (ii) except as may be otherwise expressly provided in this Lease, the cost of making any repairs necessary to correct
violations of construction-related accessibility standards within the Premises. 
  

	2.	 Temporary Space. Notwithstanding any contrary provision of this Lease, but subject to the terms
of this Section 2, with respect to the period commencing on the date hereof and expiring five (5) days after the Commencement Date (the “Temporary Space Term”) only, the term “Premises,” as defined in the
first sentence of Section 1.2.2 of this Lease, shall be deemed to include, in addition to the space expressly described in such definition, the approximately 5,246 rentable square feet of space known as Suite 300, located on the third
floor of the Building as shown on Exhibit F-1 to this Lease (the “Temporary Space”), and the Temporary Space shall be subject to all of the provisions of this Lease;
provided, however, that: (i) the date described in Section 1.3.3 of this Lease shall not apply to the Temporary Space, and the Expiration Date with respect to the Temporary Space shall be five (5) days after the Commencement
Date; (ii) Tenant shall not be required to pay Base Rent for the Temporary Space, and the schedule of Base Rent set forth in Section 1.4 of this Lease shall not apply to the Temporary Space (provided, however, that solely for
purposes of Section 16 of this Lease, Tenant shall be deemed to be required to pay Base Rent for the Temporary Space at the rate per rentable square foot set forth in Section 1.4 of this Lease); (iii) Tenant shall not
be required to pay Tenant’s Share of Expenses and Taxes for the Temporary Space, and the percentage set forth in Section 1.6 of this Lease shall not apply to the Temporary Space; (iv) Tenant shall not be entitled to receive any
allowance, abatement or other financial concession in connection with the Temporary Space that is being granted with respect to the balance of the Premises; and, for purposes of Exhibit B to this Lease, the Premises shall be deemed to
exclude the Temporary Space; and (v) the Temporary Space shall not be subject to any renewal or expansion right of Tenant under this Lease. Without limiting the foregoing, upon the expiration of the Temporary Space Term, all provisions
(including Sections 8, U and 16) of this Lease that would apply to the Premises upon the expiration of this Lease with respect to the Premises shall apply to the Temporary Space. 

 

	3.	 Extension Option. 

 

	 	3.1.	 Grant of Option; Conditions. Tenant shall have the right (the “Extension Option”)
to extend the Term for one (1) additional period of five (5) years beginning on the day immediately following the expiration date of the Lease and ending on the fifth anniversary of such expiration date (the “Extension
Term”), if: 

  

	 	(a)	 not less than 9 and not more than 12 full calendar months before the expiration date of the Lease, Tenant
delivers written notice to Landlord (the “Extension Notice”) electing to exercise the Extension Option; 

	 	(b)	 no Default exists when Tenant delivers the Extension Notice; 

 

	 	(c)	 no part of the Premises is sublet when Tenant delivers the Extension Notice; and 

 

	 	(d)	 the Lease has not been assigned before Tenant delivers the Extension Notice. 

 

	 	3.2.	 Terms Applicable to Extension Term. 

 

	 	A.	 During the Extension Term, (a) the Base Rent rate per rentable square foot shall be equal to the
Prevailing Market rate per rentable square foot; (b) Base Rent shall increase, if at all, in accordance with the increases assumed in the determination of Prevailing Market rate; and (c) Base Rent shall be payable in monthly installments
in accordance with the terms and conditions of the Lease. 

  

	 	B.	 During the Extension Term Tenant shall pay Tenant’s Share of Expenses and Taxes for the Premises in
accordance with the Lease. 

  

	 	3.3.	 Procedure for Determining Prevailing Market. 

 

	 	A.	 Initial Procedure. Within 30 days after receiving the Extension Notice, Landlord shall give Tenant
written notice of Landlord’s estimate of the Prevailing Market rate for the Extension Term (“Landlord’s Estimate”). Within 30 days of receiving Landlord’s Estimate, Tenant shall give Landlord either (i) written
notice (“Tenant’s Binding Notice”) accepting Landlord’s Estimate, or (ii) written notice (“Tenant’s Rejection Notice”) rejecting such estimate and stating Tenant’s estimate of the Prevailing
Market rate for the Extension Term. If Tenant gives Landlord a Tenant’s Rejection Notice, Landlord, within 15 days thereafter, shall give Tenant either (i) written notice (“Landlord’s Binding Notice”) accepting
Tenant’s estimate of the Prevailing Market rate for the. Extension Term stated in Tenant’s Rejection Notice, or (ii) written notice (“Landlord’s Rejection Notice”) rejecting such estimate. If Landlord gives
Tenant a Landlord’s Rejection Notice, Landlord and Tenant shall work together in good faith to agree in writing upon the Prevailing Market rate for the Extension Term. If, within 30 days after delivery of a Landlord’s Rejection Notice, the
parties fail to agree in writing upon the Prevailing Market rate, the provisions of Section 3.3.B below shall apply. 

  

	 	B.	 Dispute Resolution Procedure. 

 

	 	1.	 If, within 30 days after delivery of a Landlord’s Rejection Notice, the parties fail to agree in writing
upon the Prevailing Market rate, Landlord and Tenant, within five (5) days thereafter, shall each simultaneously submit to the other, in a sealed envelope, its good faith estimate of the Prevailing Market rate for the Extension Term
(collectively, the “Estimates”). If Landlord’s and Tenant’s Estimates are within 5% of each other, then the Prevailing Market rate for the Extension Term shall be the average of such Estimates and shall be final and binding on
both parties (and may be entered in a court of competent jurisdiction). Otherwise, within seven (7) days after the exchange of Estimates, Landlord and Tenant shall each select a broker or agent (an “Agent”) to determine which of the
two Estimates most closely reflects the Prevailing Market rate for the Extension Term. Each Agent so selected shall be licensed as a real estate broker or agent and in good standing with the California Department of Real Estate, and shall have had
at least five (5) years’ experience within the previous 10 years as a commercial real estate broker or agent working in Foster City, California, with working knowledge of current rental rates and leasing practices relating to buildings
similar to the Building. 

  

	 	2.	 If each party selects an Agent in accordance with Section 3.3.B.1 above, the parties
shall cause their respective Agents to work together in good faith to agree upon which of the two Estimates most closely reflects the Prevailing Market rate for the Extension Term. The Estimate, if any, so agreed upon by such Agents shall be final
and binding on both parties as the Prevailing Market rate for the Extension Term and may be entered in a court of competent jurisdiction. If the Agents fail to reach such agreement within 20 days after their selection, then, within 10 days after the
expiration of such 20-day period, the 

	 	
parties shall instruct the Agents to select a third Agent meeting the above criteria (and if the Agents fail to agree upon such third Agent within 10 days after being so instructed, either party
may cause a court of competent jurisdiction to select such third Agent). Promptly upon selection of such third Agent, the parties shall instruct such Agent (or, if only one of the parties has selected an Agent within the 7-day period described above, then promptly after the expiration of such 7-day period the parties shall instruct such Agent) to determine, as soon as practicable but in any
case within 14 days after his selection, which of the two Estimates most closely reflects the Prevailing Market rate. Such determination by such Agent (the “Final Agent”) shall be final and binding on both parties as the Prevailing Market
rate for the Extension Term and may be entered in a court of competent jurisdiction. If the Final Agent believes that expert advice would materially assist him, he may retain one or more qualified persons to provide such expert advice. The parties
shall share equally in the costs of the Final Agent and of any expe1ts retained by the Final Agent. Any fees of any other broker, agent, counsel or expert engaged by Landlord or Tenant shall be borne by the party retaining such broker, agent,
counsel or expert. 

  

	 	C.	 Adjustment. If the Prevailing Market rate has not been determined by the commencement date of the
Extension Term, Tenant shall pay Base Rent for the Extension Term upon the terms and conditions in effect during the last month ending on or before the expiration date of the Lease until such time as the Prevailing Market rate has been determined.
Upon such determination, the Base. Rent for the Extension Term shall be retroactively adjusted. If such adjustment results in an under- or overpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such underpayment, or receive a
credit in the amount of such overpayment, with or against the next Base Rent due under the Lease. 

  

	 	3.4.	 Extension Amendment. If Tenant is entitled to and properly exercises its Extension Option, and if the
Prevailing Market rate for the Extension Term is determined in accordance with Section 3.3 above, Landlord, within a reasonable time thereafter, shall prepare and deliver to Tenant an amendment (the “Extension
Amendment”) reflecting changes in the Base Rent, the Term, the expiration date of the Lease, and other appropriate terms in accordance with this Section 3, and Tenant shall execute and return (or provide Landlord with
reasonable objections to) the Extension Amendment within 15 days after receiving it. Notwithstanding the foregoing, upon determination of the Prevailing Market rate for the Extension Term in accordance with Section 3.3 above, an
otherwise valid exercise of the Extension Option shall be fully effective whether or not the Extension Amendment is executed. 

  

	 	3.5.	 Definition of Prevailing Market. For purposes of this Extension Option, “Prevailing
Market” shall mean the arms-length, fair-market, annual rental rate per rentable square foot under extension and renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined
hereunder for space comparable to the Premises in the Building and office buildings comparable to the Building in the Foster City, California area. The determination of Prevailing Market shall take into account (i) any material economic
differences between the terms of the Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions, and the manner, if any, in which the landlord under any such lease is reimbursed for operating
expenses and taxes; (ii) any material differences in configuration or condition between the Premises and any comparison space, including any cost that would have to be incurred in order to make the configuration or condition of the comparison
space similar to that of the Premises; and (iii) any reasonably anticipated changes in the Prevailing Market rate from the time such Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under
the Lease. 

  

	 	3.6.	 Intentionally Omitted. 

 EXHIBIT F-1 

METRO CENTER 

METRO CENTER TOWER 
 950
TOWER LANE 
 FOSTER CITY, CALIFORNIA 

TEMPORARY SPACEEX-10.15

 Exhibit 10.15 

Certain information in this document identified by brackets has been omitted because it is both not material and would be competitively harmful if publicly
disclosed. 
 LICENSE AGREEMENT 

BETWEEN 
 LUMENA
PHARMACEUTICALS, INC. 
 AND 

SATIOGEN PHARMACEUTICALS, INC. 

EFFECTIVE AS OF FEBRUARY 8, 2011 

 LICENSE AGREEMENT 

THIS LICENSE AGREEMENT (this “Agreement”) is entered into as of
February 8, 2011 (the “Effective Date”), by and between Lumena Pharmaceuticals, Inc. (“Licensee”), a corporation organized and existing under the laws of the State of Delaware, and Satiogen Pharmaceuticals,
Inc. (“Satiogen”), a corporation organized and existing under the laws of the State of Delaware. Licensee and Satiogen are sometimes referred to herein individually as a “Party” and collectively as
“Parties.” The Parties agree as follows: 
 BACKGROUND 

Satiogen has certain intellectual property rights relating to its research programs related to ASBT inhibitors, including the ASBTi Patents
and ASBTi Know-How (each as defined herein). Licensee is interested in further developing and commercializing such intellectual property rights. Subject to the terms and conditions set forth in this Agreement,
Satiogen is willing to grant Licensee a license to further develop and commercialize, on a worldwide basis, Licensed Products (as defined herein) relating to the ASBTi Patents and ASBTi Know-How. 

Satiogen also has certain intellectual property rights relating to its research programs related to TGR5 agonists, including the TGR5 Patents
and TGR5 Know-How (each as defined herein). Licensee is interested in further developing and commercializing such intellectual property rights. Subject to the terms and conditions set forth in this Agreement,
Satiogen is willing to grant Licensee a license to further develop and commercialize, on a worldwide basis, Licensed Products (as defined herein) relating to the TGR5 Patents and TGR5 Know-How. 

Licensee and Satiogen are willing to defer the effectiveness of certain license grants under the ASBTi Patents, ASBTi Know-How, TGR5 Patents and TGR5 Know-How until the occurrence of certain events as further set forth herein. 

NOW, THEREFORE, in consideration of the above premises and the mutual covenants and agreements set forth below,
the Parties hereto agree as follows. 
 Article 1 

DEFINITIONS 
 As used in
this Agreement, the following words and phrases shall have the following meanings: 
 “Affiliate” means, with respect to a
Party, any Person directly or indirectly controlling, controlled by, or under common control with, such Party. For purposes of this definition only, the term “controlled” (including the terms “controlled by” and “under
common control with”) as used in this context, means the direct or indirect ability or power to direct or cause the direction of management policies of a Person or otherwise direct the affairs of such Person, whether through ownership of
equity, voting securities, beneficial interest, by contract or otherwise. 

  
 1 

 “Applicable Laws” means all applicable laws, ordinances, rules and
regulations of any kind whatsoever of any governmental (including international, foreign, federal, state and local) or regulatory authority, including all laws, ordinances, rules and regulations promulgated by the FDA or its counterparts in foreign
jurisdictions. 
 “Application for Marketing Authorization” means, with respect to a Licensed Product, (i) in the
United States, a New Drug Application filed with the FDA pursuant to 21 U.S.C. Section 355 and 21 C.F.R. Section 314 or any successor regulatory scheme (“NDA”), and (ii) in any country other than the United States, an
application or set of applications for marketing approval comparable to an NDA and necessary to make and sell Licensed Products commercially in such country. 

“ASBTi Effective Event” means the date of the initial closing of the Financing. 

“ASBTi Exclusivity Period” means a period of [...***...] following the Effective Date, which may be extended to a total
period of [...***...] if, within the initial [...***...] period, Licensee provides notice to Satiogen indicating the continuation of good faith negotiations regarding the Financing. 

“ASBTi Know-How” means any and all Know-How
owned or Controlled by Satiogen as of the Effective Date or during the term of this Agreement reasonably necessary or useful with respect to (i) the ASBTi Program, (ii) ASBT inhibitors or their use or manufacture, or (iii) inhibition,
activation, regulation or other modulation of the ASBT pathway; provided, however, that ASBTi Know-How does not include the ASBTi Patents. 

“ASBTi License” means the license set forth in Section 2.1. 

“ASBTi Patents” means all Patent Rights owned or Controlled by Satiogen as of the Effective Date or during the term of this
Agreement covering (i) the ASBTi Program or any results thereof, (ii) ASBT inhibitors or their use or manufacture, or (iii) inhibition, activation, regulation or other modulation of the ASBT pathway, including without limitation those
Patent Rights listed in Exhibit A. 
 “ASBTi Program” means all activities conducted by or on behalf of Satiogen
relating to ASBT inhibitors or their use or manufacture, including all research, development, manufacture and other related activities. 

“Attributed” means, with respect to Sublicense Revenues and subject to Section 3.3(h), (i) reasonably attributed by
Licensee to any Patent Rights or Know-How licensed to Licensee by a Third Party and sublicensed by Licensee under the applicable sublicense together with Licensed Patents or Licensed Know-How, which Third Party Patent Rights or Know-How are reasonably necessary for the applicable sublicensee’s exercise of the rights under Licensed Patents or Licensed Know-How, or the development, making, having made, using, selling, offering to sell or importing any Licensed Products in the Field in the Territory, pursuant to the sublicense from Licensee, or (ii) if
Satiogen reasonably disputes such attribution, as determined in accordance with the dispute resolution provisions set forth in Section 10.14(b). 

  
 2 

 “Calendar Quarter” means a three (3) month period ending on
March 31, June 30, September 30 or December 31. 
 “Combination Product” means any product comprised of a
combination of a Licensed Product and another active product(s) or product component(s) that is not a Licensed Product. 

“Commercially Reasonable Efforts” means use of commercially reasonable efforts, consistent with normal business practices
within the pharmaceutical industry, taking into account efficacy, the competitiveness of alternative products in the marketplace, the availability of a partner for commercialization of any Licensed Product, the degree of intellectual property
protection available for any Licensed Product, the likelihood of Regulatory Approval, the potential profitability of any Licensed Product, the potential impact of the prevailing conditions (such as pricing) in one market on one or more other
markets, alternative products and other relevant factors. 
 “Common Shares” has the meaning set forth in
Section 3.1(c). 
 “Confidential Information” means information received (whether disclosed in writing,
electronically, orally or by observation) by one Party (the “Receiving Party”) from the other Party (the “Disclosing Party”) unless in each case such information, as shown by competent evidence: 

(a) was known to the Receiving Party or to the general public prior to the Disclosing Party’s disclosure, as
demonstrated by contemporaneous written records; 
 (b) became known to the general public, after the Disclosing
Party’s disclosure hereunder, other than through a breach of the confidentiality provisions of this Agreement by the Receiving Party or any Person to whom such Receiving Party disclosed such information; 

(c) was subsequently disclosed to the Receiving Party by a Person having a legal right to disclose, without any
restrictions, such information or data; or 
 (d) was developed by the Receiving Party independent of the Disclosing
Party’s Confidential Information; 
 provided, however, that the Licensed Patents, the Licensed
Know-How (in each case, as it relates to Licensed Products) and any other information that relates to Licensed Products that is disclosed to Licensee by Satiogen hereunder shall be deemed the Confidential
Information of Licensee as well as Satiogen and subject to the confidentiality provisions hereof during the term of this Agreement. 

“Control” means the possession of the ability to grant a license without violating the terms of any agreement or other
arrangement with any Third Party. 
 “Damages” means any and all costs, losses, claims, demands for payment, government
enforcement actions, liabilities, fines, penalties, expenses, court costs and reasonable fees and disbursements of counsel, consultants and expert witnesses incurred by a Party hereto or its Affiliates (including any court-imposed interest in
connection therewith), each as a result of any claim, demand, action, investigation or other proceeding by any Third Party. 

  
 3 

 “Effective Date” has the meaning set forth in the first paragraph hereof.

 “FDA” means the United States Food and Drug Administration, or any successor federal agency having responsibility over
Regulatory Approval. “FDA” shall also be deemed to include the applicable governmental or regulatory authority having jurisdiction over Licensed Products in any particular country or region in the Territory (for example, the European
Medicines Evaluation Agency for the European Union). 
 “Field” means the diagnosis, treatment, prevention, mitigation and
cure of any and all human diseases and disorders. 
 “Financing” means the next sale after the Effective Date of shares of
Licensee’s capital stock in one transaction or a series of related transactions which is a bona fide financing transaction and in which the proceeds to be received by Licensee are principally from investors who are venture capital, private
equity, institutional, corporate or similar investors, on terms and conditions negotiated among Licensee and such investors, but which is not structured on terms and conditions for the purpose of reducing the number of shares of Series A-1 Shares to be received by Satiogen pursuant to Section 3.1. 
 “First Commercial
Sale” means the first arm’s length sale of a Licensed Product in a country by Licensee or its Affiliate to a Third Party that is not an Affiliate or sublicensee of the selling party following Regulatory Approval in such country. 

“Full Allocation of Common Shares” means 690,000 shares of common stock of Licensee. 

“Full Allocation of Series A-1 Shares” means 1,380,000 shares of Series A-1 Shares. 
 “GAAP” means United States Generally Accepted Accounting Principles,
consistently applied. 
 “Initiation” means, in any clinical trial, the first dosing of the first patient in such clinical
trial. 
 “Investors” has the meaning set forth in Section 3.1(a). 

“Joint Inventions” means inventions or discoveries in which one or more employees, officers, directors, contractors or agents
of Satiogen and one or more employees, officers, directors, contractors or agents of Licensee have contributed in a significant manner to the conception of such invention or discovery. 

“Know-How” means all data, knowledge and information, including all tangible and
intangible techniques, technology, practices, inventions (whether patentable or not), trade secrets, methods, knowledge, know-how, skill, experience, works of authorship and related copyrights, analytical and
quality control data, results, descriptions and compositions of matter, chemical manufacturing data, data from toxicological, pharmacological, preclinical and clinical testing and studies, assays, platforms, materials, samples, cell lines, DNA
constructs, formulations and specifications. 

  
 4 

 “Licensed Know-How” means,
collectively, the ASBTi Know-How and the TGR5 Know-How. 

“Licensed Patents” means, collectively, the ASBTi Patents and the TGR5 Patents. 

“Licensed Product” means (a) [...***...] of which is covered by the ASBTi Patents, or (ii) which is based on the ASBTi Know-How; and/or (b) [...***...] of which is covered by the TGR5 Patents, or (ii) which is based on the TGR5 Know-How; provided, that “Licensed Products” shall
not include [...***...]; provided, further, however that no product shall be excluded from the foregoing definition based solely on [...***...]. For clarity, [...***...] shall not be considered Licensed Products under this Agreement. 

“Licensee Improvements” means any Patent Rights that (i) are conceived and reduced to practice by Licensee pursuant to
and during the course of its activities under this Agreement, (ii) are solely owned by Licensee, (iii) constitute improvements of inventions claimed or disclosed in one or more of the Licensed Patents, and (iv) the practice of which
would infringe a Valid Claim in one or more of the issued Licensed Patents. 
 “Licensee Inventions” has the meaning set
forth in Section 5.4(b)(i). 
 “Licensee Invention Improvements” has the meaning set forth in Section 5.4(b)(iv).

 “Licenses” means, collectively, the ASBTi License and the TGR5 License. 

“NDA” has the meaning set forth under the definition of “Application for Marketing Authorization.” 

“Net Sales” means the gross amounts invoiced by Licensee, its Affiliates or (as may be applicable under Section 3.3(i))
sublicensees for sales of Licensed Products to independent Third Parties, less the following deductions: [...***...] in accordance with GAAP consistently applied. Use of Licensed Products for promotional, sampling or compassionate use purposes, in
commercially reasonable quantities, [...***...]. Sales between Licensee, its Affiliate and/or a sublicensee for end use by the purchasing entity (but not sales for further resale, or for production of finished Licensed Products for sale, by such
purchasing entity) [...***...]. 
 For Licensed Products which are sold as Combination Products, the Net Sales for such Combination Products
shall be adjusted by multiplying the actual Net Sales by the fraction A/(A+B) where A is [...***...], and B is [...***...], if such other active product or product component is sold separately. If the other product or product component is not sold
separately, then the actual Net Sales shall be adjusted by multiplying the actual Net Sales by the fraction A/C where A is [...***...], if sold separately, and C is [...***...]. If neither of the foregoing applies, then the Parties shall determine
the Net Sales of the Combination Product in good faith based on the respective values of the components of such Combination Product. In the event the Parties are not able to reach agreement, Net Sales for such Combination Product shall be determined
by an expert jointly appointed by the parties, with such determination to be based on the respective values of the components of such Combination Product. The decision of the expert shall be final and binding on the Parties and the fees of the
expert shall be equally shared between the Parties. 

  
 5 

 Net Sales amounts shall be determined from the books and records of Licensee maintained in
accordance with GAAP, consistently applied. 
 “Patent Rights” means all rights and interests in and to all issued patents
and pending patent applications, including all provisional applications, substitutions, continuations, continuations-in-part, divisions, and renewals, all letters patent
granted thereon, and all patents-of-addition, reissues, reexaminations and extensions or restorations by existing or future extension or restoration mechanisms
(including regulatory extensions), and all supplementary protection certificates, together with any foreign counterparts thereof. 

“Person” means a natural person, a corporation, a partnership, a trust, a joint venture, a limited liability company, any
governmental authority, or any other entity or organization. 
 “Phase III Clinical Trial” means a human clinical trial
that would satisfy the requirements for a Phase III study as defined in 21 C.F.R. § 312.21(c) (or its successor regulation). 

“Program” or “Programs” means either the ASBTi Program or the TGR5 Program or both, respectively. 

“Regulatory Approval” means approval of an Application for Marketing Authorization, including all pricing and reimbursement
approvals, and satisfaction of any related applicable FDA registration and notification requirements (if any). 
 “Royalty
Term” means, with respect to each country in which a Licensed Product is sold, on a Licensed Product by Licensed Product basis, that time period beginning on the First Commercial Sale of such Licensed Product in such country and ending on
the expiration in such country of the last-to-expire Valid Claim of any Licensed Patent (other than Licensee Invention Improvements) that, absent the licenses granted in
this Agreement, would be infringed by the making, using, selling, offering for sale, or importing of such Licensed Product in such country. 

“Series A-1 Shares” means: if the Financing consists of common stock, then shares of
common stock of Licensee; and if the Financing consists of preferred stock, then shares of preferred stock of Licensee having terms substantially equivalent to the Series A-2 Shares except for the following:
(i) the holders of the Series A-1 Shares shall have the information rights substantially equivalent to those set forth on Exhibit B, (ii) the holders of the Series A-1 Shares shall have the board observation rights substantially equivalent to those set forth on Exhibit B, (iii) the liquidation preference of the Series A-2
Shares shall be senior to the liquidation preference of the Series A-1 Shares, (iv) the Series A-1 Shares shall be
non-voting except as to matters required by law and provisions commonly known as protective provisions substantially equivalent to those set forth on Exhibit B, and (v) the Series A-1 Shares shall not have redemption rights. 

  
 6 

 “Series A-2 Shares” has the meaning
set forth in Section 3.1(a). 
 “Sublicense Revenues” means any upfront payments, milestone payments or other similar
cash consideration (but excluding the royalty payments from sublicensees to Licensee on sales of Licensed Products by sublicensees) or any capital stock or other similar equity ownership interest (subject to Section 3.3(g)), in each case
(i) received by Licensee from a Third Party in consideration of the grant of a sublicense to a Third Party of rights under the Licensed Patents or Licensed Know-How and (ii) subject to
Section 3.3(h), not Attributed to Third Party Patent Rights or Know-How licensed thereunder. Notwithstanding the foregoing, the term Sublicense Revenues shall exclude [...***...]. 

“Sublicense Royalties” means the royalties received by Licensee from a Third Party in consideration of the grant of a
sublicense to a Third Party of rights under the Licensed Patents or Licensed Know-How based on a percentage of revenue generated by such sublicensee for sales of Licensed Products during the Royalty Term. 

“Territory” means all countries of the world, or worldwide. 

“TGR5 Effective Event” means the later to occur of the delivery of written notice by Licensee to Satiogen that the license
set forth in Section 2.2 has become effective, and the ASBTi Effective Event. 
 “TGR5 Exclusivity Period” means a
period of [...***...] following the Effective Date. 
 “TGR5 Know-How” means any
and all Know-How owned or Controlled by Satiogen as of the Effective Date or during the term of this Agreement reasonably necessary or useful with respect to (i) the TGR5 Program, (ii) TGR5 agonists
or their use or manufacture, or (iii) inhibition, activation, regulation or other modulation of TGR5 receptors or the TGR5 pathway; provided, however, that TGR5 Know-How does not include the TGR5 Patents.

 “TGR5 License” means the license set forth in Section 2.2. 

“TGR5 Patents” means all Patent Rights owned or Controlled by Satiogen as of the Effective Date or during the term of this
Agreement covering (i) the TGR5 Program or any results thereof, (ii) TGR5 agonists or their use or manufacture, or (iii) inhibition, activation, regulation or other modulation of TGR5 receptors or the TGR5 pathway, including without
limitation those Patent Rights listed in Exhibit A. 
 “TGR5 Program” means all activities conducted by or on behalf
of Satiogen relating to TGR5 agonists or their use or manufacture, including all research, development, manufacture and other related activities. 

“Third Party” means Persons other than the Parties or their Affiliates. 

“Transaction Agreements” has the meaning set forth in Section 3.1(a). 

  
 7 

 “Valid Claim” means a claim of an issued and unexpired patent or a pending
patent application included within the Licensed Patents in a country which: (i) has not been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, which decision is
unappealable or unappealed within the time allowed for appeal, and (ii) has not been cancelled, withdrawn, abandoned, disclaimed or admitted to be invalid or unenforceable through reissue, disclaimer or otherwise. 

Article 2 
 GRANT OF
LICENSE 
 2.1 ASBTi License. Effective automatically upon the occurrence of the ASBTi Effective Event, and subject to the
terms and conditions set forth in this Agreement, Satiogen shall, and it hereby does, grant to Licensee an exclusive (even as to Satiogen and its Affiliates) license, with the right to grant sublicenses through multiple tiers, under the ASBTi Know-How and the ASBTi Patents to develop, make, have made, use, sell, offer for sale, and import Licensed Products in the Field in the Territory. 

2.2 TGR5 License. Effective automatically upon the occurrence of the TGR5 Effective Event, and subject to the terms and
conditions set forth in this Agreement, Satiogen shall, and it hereby does, grant to Licensee an exclusive (even as to Satiogen and its Affiliates) license, with the right to grant sublicenses through multiple tiers, under the TGR5 Know-How and the TGR5 Patents to develop, make, have made, use, sell, offer for sale, and import Licensed Products in the Field in the Territory. 

2.3 ASBTi Exclusivity. Satiogen shall not grant to any Affiliate or Third Party any license rights in conflict with or otherwise
restricting or affecting the license grant in Section 2.1 above during the ASBTi Exclusivity Period or, if the ASBTi Effective Event has occurred, during the term of this Agreement. During the ASBTi Exclusivity Period Satiogen shall not engage
in discussions with or entertain inquiries from any Third Party regarding the grant of any license or other rights relating to the ASBTi Program. 

2.4 TGR5 Exclusivity. Satiogen shall not grant to any Affiliate or Third Party any license rights in conflict with or otherwise
restricting or affecting the license grant in Section 2.2 above during the TGR5 Exclusivity Period or, if the TGR5 Effective Event has occurred, during the term of this Agreement. During the TGR5 Exclusivity Period Satiogen shall not engage in
discussions with or entertain inquiries from any Third Party regarding the grant of any license or other rights relating to the TGR5 Program. 

2.5 Registration of Licenses. Notwithstanding anything to the contrary in Article 6, Licensee may register the licenses granted
under this Agreement in any country of the world, following the ASBTi Effective Event or TGR5 Effective Event, as applicable. Upon request by Licensee, Satiogen agrees promptly to execute any “short form” licenses consistent with the terms
and conditions of this Agreement submitted to it by Licensee reasonably necessary to effect the foregoing registration in such country. 

  
 8 

 2.6 No Implied Licenses. No right or license under any Patent Rights or other
intellectual property is granted or shall be granted by implication. All such rights are or shall be granted only as expressly provided in the terms of this Agreement. Without limiting the generality of the foregoing, all rights under the Licensed
Patents and Licensed Know-How outside the scope of the license grants in Sections 2.1 and 2.2 (including without limitation any products covered by the Licensed Patents and/or based on the Licensed Know-How other than Licensed Products) are reserved by Satiogen. 
 Article 3 

CONSIDERATION 
 3.1
Equity Issuances upon License Effectiveness. 
 (a) Issuance of Preferred Stock. Contemporaneously with the
ASBTi Effective Event and the issuance of shares in the Financing (the “Series A-2 Shares”) to the applicable investors (the “Investors”), (i) Licensee shall issue to Satiogen
a number of Series A-1 Shares equal to the Full Allocation of Series A-1 Shares multiplied by a fraction equal to (A) the aggregate purchase price paid by the
Investors for the Series A-2 Shares on the ASBTi Effective Event (including amounts attributable to the conversion of promissory notes issued by Licensee), divided by (B) $[...***...] (with any resulting
fractional share being rounded down to the nearest whole share), (ii) Satiogen shall execute and deliver, to Licensee and the Investors, customary documents (such as, without limitation, an investor rights agreement and a voting agreement)
containing terms and conditions of the Series A-2 Shares and the Series A-1 Shares, such terms and conditions to be determined by negotiation among Licensee and the
Investors (the “Transaction Agreements”), and (iii) Licensee shall deliver to Satiogen a written notice that the license set forth in Section 2.1 has become effective. 

(b) Additional Issuance of Preferred Stock. In the event that the Investors purchase additional Series A-2 Shares in any subsequent closing of the Financing, Licensee shall issue to Satiogen contemporaneously with such closing an additional number of Series A-1 Shares equal to
the Full Allocation of Series A-1 Shares multiplied by a fraction equal to (i) the aggregate purchase price paid by the Investors in the applicable subsequent closing for additional Series A-2 Shares, divided by (ii) $[...***...] (with any resulting fractional share being rounded down to the nearest whole share); provided, however, that in any event the aggregate number of Series A-1 Shares to be issued by Licensee to Satiogen shall not exceed the Full Allocation of Series A-1 Shares. Notwithstanding the foregoing, if this Agreement is terminated in
its entirety or with respect to the ASBTi License by either Party under Article 9, the foregoing obligation of Licensee to issue additional Series A-1 Shares to Satiogen shall terminate as of the effective
date of such termination of this Agreement. 
 (c) Issuance of Common Stock. Contemporaneously with the ASBTi
Effective Event or, if later, the TGR5 Effective Event, Licensee shall issue to Satiogen a number of shares of common stock of Licensee (the “Common Shares”) equal to the Full Allocation of Common Shares multiplied by a fraction
equal to (i) the aggregate purchase price paid by the Investors for the Series A-2 Shares on the ASBTi Effective Event or, if the TGR5 Effective Event is later than the ASBTi Effective Event, the
aggregate purchase price paid on or prior to the TGR5 Effective Event (including amounts attributable to the conversion of promissory notes issued by Licensee), divided by (ii) $[...***...] (with any resulting fractional share being rounded down to
the nearest whole share). 

  
 9 

 (d) Additional Issuance of Common Stock. In the event that the
TGR5 Effective Event has occurred and the Investors purchase additional Series A-2 Shares in any subsequent closing of the Financing, Licensee shall issue to Satiogen contemporaneously with such closing an
additional number of Common Shares equal to the Full Allocation of Common Shares multiplied by a fraction equal to (i) the aggregate purchase price paid by the Investors in the applicable subsequent closing for additional Series A-2 Shares, divided by (ii) $[...***...] (with any resulting fractional share being rounded down to the nearest whole share); provided, however, that in any event the aggregate number of Common Shares to be issued
by Licensee to Satiogen shall not exceed the Full Allocation of Common Shares. Notwithstanding the foregoing, if this Agreement is terminated in its entirety or with respect to the TGR5 License by either Party under Article 9, the foregoing
obligation of Licensee to issue additional Common Shares to Satiogen shall terminate as of the effective date of such termination of this Agreement. 

3.2 Payments from Licensee to Satiogen. 

(a) Milestone Payments from Licensee to Satiogen. Within [...***...] of Licensee or its Affiliates first
achieving a milestone event listed below with respect to any Licensed Product, Licensee will notify Satiogen in writing thereof and pay the below-specified amounts to Satiogen by wire transfer in immediately available funds to an account designated
by Satiogen. 
  

					
	Milestone Event	  	Payment	 
	 [...***...]
	  	 	[...	***...] 

 For the avoidance of doubt, Licensee shall not be required to pay any milestone fee more than
one time, regardless of the number of Licensed Products that achieve any particular milestone, and no milestone fee shall be paid for any milestone that is not achieved. 

(b) Royalty Payments from Licensee to Satiogen. 

(i) Royalty Amount. Subject to the terms and conditions of this Section 3.2(b), Licensee shall pay to
Satiogen a royalty equal to [...***...] of Net Sales of each Licensed Product sold by Licensee and its Affiliates during the Royalty Term for such Licensed Product. 

(ii) Royalty Accrual in Absence of Issued Claim. If the only Valid Claim that, absent the licenses granted in this
Agreement, would be infringed by the making, using, selling, offering for sale, or importing of a Licensed Product in a particular country is a claim of a pending patent application, royalties in respect of such Licensed Product will be accrued for
so long as a Discontinuation Event has not 

  
 10 

 
occurred, but will not become due and owing under this Agreement unless and until such time as a Licensed Patent containing such claim issues. Within [...***...] from the end of the Calendar
Quarter in which a Licensed Patent containing such claim issues, Licensee shall make a lump-sum make-up payment to Satiogen equal to the aggregate of the amounts of the
royalties that were accrued as a result of such pending claim. For purposes of this Agreement, “Discontinuation Event” means with respect to a claim of a pending patent application, the earlier of (i) final cancellation, withdrawal or
abandonment, (ii) disallowance without the possibility of appeal or re-filing, or (iii) [...***...] from the earliest priority date to which such claim is entitled. If a Discontinuation Event occurs with
respect to a claim of a pending patent application, then Licensee shall no longer be required to accrue or pay royalties on account of such claim pursuant to this Section 3.2(b)(ii). Notwithstanding anything to the contrary in this Agreement,
royalties accrued, but which do not become due and owing, pursuant to this Section 3.2(b)(ii) prior to termination or expiration of this Agreement shall not survive such termination or expiration. For clarity, Licensee’s sole obligation to
pay royalties based on pending patent applications is as expressly set forth in this Section 3.2(b)(ii). 
 (ii)
Payment. Licensee shall pay royalties due under this Section 3.2(b) concurrently with the remittance of the royalty report in accordance with Section 3.5. All amounts payable to Satiogen under this Section 3.2(b) shall be paid
in U.S. dollars by wire transfer in immediately available funds to an account designated in writing by Satiogen (unless otherwise instructed by Satiogen in writing). 

3.3 Sublicense Payments. 

(a) First ASBTi Sublicense Issued Prior to the Initiation of first Phase III Clinical Trial. If, prior to the
Initiation of the first Phase III Clinical Trial by Licensee or its Affiliate for any Licensed Product covered by the ASBTi Patent Rights and/or based on the ASBTi Know-How, Licensee grants a sublicense to a
Third Party under the ASBTi Patent Rights and/or ASBTi Know-How, then subject to Section 3.3(c), Licensee shall pay to Satiogen [...***...] of the Sublicense Revenues that Licensee actually receives from
all of its sublicensees under all sublicenses under the ASBTi Patent Rights and/or ASBTi Know-How granted by Licensee, regardless of when granted. 

(b) First ASBTi Sublicense Issued After the Initiation of first Phase III Clinical Trial. If, as of the
Initiation of the first Phase III Clinical Trial by Licensee or its Affiliate for any Licensed Product covered by the ASBTi Patent Rights and/or based on the ASBTi Know-How, Licensee has not granted any
sublicense to a Third Party under the ASBTi Patent Rights and/or ASBTi Know-How, but Licensee thereafter grants a sublicense to a Third Party under the ASBTi Patent Rights and/or ASBTi Know-How, then Licensee shall pay to Satiogen [...***...] of the Sublicense Revenues that Licensee actually receives from all of its sublicensees under all sublicenses under the ASBTi Patent Rights and/or ASBTi Know-How granted by Licensee. 

  
 11 

 (c) ASBTi Sublicense After the Initiation of a Phase III Clinical
Trial. Notwithstanding anything to the contrary in this Agreement, if, following the grant of a sublicense that is subject to Section 3.3(a), Licensee grants a sublicense to a Third Party under any ASBTi Patent Rights that cover any
Licensed Product for which Licensee or its Affiliate has Initiated a Phase III Clinical Trial, and/or under any ASBTi Know-How on which such Licensed Product is based, then Licensee shall pay to Satiogen
[...***...] of the Sublicense Revenues that Licensee actually receives from such sublicensee under such sublicense. 

(d) First TGR5 Sublicense Issued Prior to the Initiation of first Phase III Clinical Trial. If, prior to the
Initiation of the first Phase III Clinical Trial by Licensee or its Affiliate for any Licensed Product covered by the TGR5 Patent Rights and/or based on the TGR5 Know-How, Licensee grants a sublicense to a
Third Party under the TGR5 Patent Rights and/or TGR5 Know-How, then subject to Section 3.3(f), Licensee shall pay to Satiogen [...***...] of the Sublicense Revenues that Licensee actually receives from
all of its sublicensees under all sublicenses under the TGR5 Patent Rights and/or TGR5 Know-How granted by Licensee, regardless of when granted. 

(e) First TGR5 Sublicense Issued After the Initiation of first Phase III Clinical Trial. If, as of the Initiation
of the first Phase III Clinical Trial by Licensee or its Affiliate for any Licensed Product covered by the TGR5 Patent Rights and/or based on the TGR5 Know-How, Licensee has not granted any sublicense to a
Third Party under the TGR5 Patent Rights and/or TGR5 Know-How, but Licensee thereafter grants a sublicense to a Third Party under the TGR5 Patent Rights and/or TGR5
Know-How, then Licensee shall pay to Satiogen [...***...] of the Sublicense Revenues that Licensee actually receives from all of its sublicensees under all sublicenses under the TGR5 Patent Rights and/or TGR5 Know-How granted by Licensee. 
 (f) Subsequent TGR5 Sublicense After the
Initiation of a Phase III Clinical Trial. Notwithstanding anything to the contrary in this Agreement, if, following the grant of a sublicense that is subject to Section 3.3(d), Licensee grants a sublicense to a Third Party under any TGR5
Patent Rights that cover any Licensed Product for which License or its Affiliate has Initiated a Phase III Clinical Trial, and/or under any TGR5 Know-How on which such Licensed Product is based, then Licensee
shall pay to Satiogen [...***...] of the Sublicense Revenues that Licensee actually receives from such sublicensee under such sublicense. 

(g) Sublicense Revenues Received as Equity Ownership Interest. In the event that Licensee receives Sublicense
Revenues in the form of capital stock or other similar equity ownership interest, Licensee shall be permitted, at its sole option and discretion, to make the applicable payment required pursuant to any of subsections (a) through (f) above
either by delivering to Satiogen the applicable percentage of such capital stock or other similar equity ownership interest, or by paying to Satiogen an amount equal to the applicable percentage of the fair market value of such capital stock or
other similar equity ownership interest. 

  
 12 

 (h) Attribution of Sublicense Revenues. Notwithstanding
anything to the contrary in this Agreement, under no circumstances shall any consideration that would constitute Sublicense Revenues (without giving effect to clause (ii) of the definition of “Sublicense Revenues” in Article 1) under
any particular sublicense be Attributed to Patent Rights or Know-How licensed to Licensee by Third Parties such that the portion of such consideration payable by Licensee to Satiogen pursuant to
Section 3.3(a) or Section 3.3(d) is less than [...***...] of such consideration, or the portion of such consideration payable by Licensee to Satiogen pursuant to Section 3.3(b), Section 3.3(c), Section 3.3(e) or
Section 3.3(f) is less than [...***...] of such consideration. 
 (i) Sublicense Royalties. If Licensee
enters into an agreement that grants a sublicense to a Third Party under the ASBTi Patent Rights and/or ASBTi Know-How, and/or under the TGR5 Patent Rights and/or TGR5
Know-How, then Licensee shall pay to Satiogen an amount equal to [...***...] of the Sublicense Royalties that Licensee actually receives from such sublicensee, provided, however, that such payment obligation
shall not in any event exceed an amount equal to [...***...] of the corresponding Net Sales of Licensed Products sold by such sublicensee. 

(j) Sole Payment Obligation. For clarity, Licensee has no obligation to pay royalties under Section 3.2(b)
above (except where the sublicensee is the end user of the applicable Licensed Product, as contemplated in the definition of “Net Sales” in Article 1 of this Agreement), or milestone payments under Section 3.2(a) above, in connection
with any sublicense. 
 3.4 Reimbursement of Patent Prosecution Expenses. 

(a) ASBTi Patents: Prior to ASBTi Effective Event. Prior to the ASBTi Effective Event, Licensee will reimburse
Satiogen for [...***...] of all reasonable patent preparing, filing, prosecution and maintenance costs incurred with respect to the ASBTi Patents. 

(b) ASBTi Patents: Following ASBTi Effective Event. Following the ASBTi Effective Event, Licensee will reimburse
Satiogen for [...***...] of all subsequent reasonable patent preparing, filing, prosecution and maintenance costs incurred with respect to the ASBTi Patents. 

(c) TGR5 Patents: Prior to TGR5 Effective Event. Prior to the TGR5 Effective Event, Licensee will reimburse
Satiogen for [...***...] of all reasonable patent preparing, filing, prosecution and maintenance costs incurred with respect to the TGR5 Patents. 

(d) TGR5 Patents: Following TGR5 Effective Event. Following the TGR5 Effective Event, Licensee will reimburse
Satiogen for [...***...] of all subsequent reasonable patent preparing, filing, prosecution and maintenance costs incurred with respect to the TGR5 Patents. 

  
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 3.5 Record Retention; Reports and Payments. 

(a) Record Retention. Licensee shall keep complete and accurate books and records that are necessary to ascertain
Licensee’s compliance with this Agreement including such records as are necessary to verify milestone and royalty payments owed under Section 3.2, and payments based on Sublicense Revenues and Sublicense Royalties owed under
Section 3.3, for a period of [...***...] from the end of the calendar year to which such records relate. Such records shall be kept in accordance with GAAP and Licensee’s internal practices and procedures, consistently applied. 

(b) Reports and Payments. Beginning with the first Calendar Quarter following the Calendar Quarter in which the
earlier of (i) First Commercial Sale of a Licensed Product or (ii) first execution of a sublicense under the Licensed Patents and Licensed Know-How occurs, Licensee shall furnish Satiogen with a
quarterly report on Net Sales of Licensed Products, Sublicense Revenues and Sublicense Royalties within [...***...] after the end of the previous Calendar Quarter. Such report shall include a written report in reasonable detail of: (a) the Net
Sales of Licensed Products for the previous Calendar Quarter, broken down by country, (b) the royalty payment that is due and payable, (c) the basis for calculating such royalty payment; (d) the Sublicense Revenues received during the
previous Calendar Quarter, (e) Satiogen’s share of the Sublicense Royalties due to Satiogen under Section 3.3(i), and (f) if applicable, the basis for how Sublicense Revenues were Attributed to the applicable Third Party Patent
Rights or Know-How. The total amount of payments due to Satiogen, as shown by such report shall be paid by Licensee concurrently with the remittance of such report. 

3.6 Audits. Satiogen shall have the right, once annually, and no more than [...***...] with respect to any audited period, to
cause an independent, certified public accountant reasonably acceptable to Licensee (the “Auditor”) to audit the books and records of Licensee described in Section 3.5(a) solely to confirm Net Sales, milestone and royalty
payments owed under Section 3.2, and Sublicense Revenues and Satiogen’s share of the Sublicense Royalties owed under Section 3.3, for a period covering not more than the preceding [...***...]. Such audits may be exercised during
normal business hours upon reasonable prior written notice (not to be less than [...***...]) to Licensee. The Auditor will execute a reasonable written confidentiality agreement with Licensee and will disclose to Satiogen only such information as is
reasonably necessary to provide Satiogen with information regarding any actual or potential discrepancies between amounts reported and actually paid and amounts payable under this Agreement. The Auditor will send a copy of the report to Licensee at
the same time it is sent to Satiogen. The report sent to both Parties will include the methodology and calculations used to determine the results. Satiogen shall bear the full cost of such audit unless such audit discloses an underpayment by
Licensee of more than [...***...] of the amount due for any calendar year under this Agreement, in which case, Licensee shall bear the full cost of such audit and shall promptly remit to Satiogen the amount of any underpayment. If such audit
discloses an overpayment by Licensee, then Licensee will deduct the amount of such overpayment from amounts otherwise owed to Satiogen under this Agreement. If, however, no additional payments are due from Licensee to Satiogen within the next
[...***...] under the terms of this Agreement, then, upon request by Licensee, Satiogen will refund such overpayment to Licensee. Upon the expiration of [...***...] following the end of any calendar year, the calculation of royalties payable with
respect to such calendar year will be binding and conclusive upon Satiogen except with respect to any audit then underway, and except for fraud or misrepresentation, Licensee and its Affiliates will be released from any liability or accountability
with respect to royalties for such calendar year. 

  
 14 

 3.7 Taxes and Currency. All payments made under this Agreement shall be in
United States dollars. Any and all taxes levied on any royalty, milestone, or other payments made by Licensee to Satiogen under this Agreement shall be the liability of and paid by Satiogen. If laws or regulations require the withholding of such
taxes by Licensee, the taxes will be deducted by Licensee from the payment and remitted by Licensee to the proper tax authority, provided that Licensee will furnish Satiogen with a copy of the official tax receipt on such withholdings as soon as
practicable after such withholding, and give Satiogen such assistance, at Satiogen’s expense, as may be reasonably necessary to enable or assist Satiogen to claim exemption or take credit therefrom. Proof of payment shall be provided to
Satiogen within [...***...] after payment. Licensee will cooperate, at Satiogen’s expense, in pursuing tax refunds, if such refund is appropriate in Satiogen’s determination. If at any time legal restrictions prevent the prompt remittance
of part or all royalties with respect to any country in the Territory where the Licensed Product is sold, payment shall be made through such lawful means or methods as Satiogen and Licensee reasonably shall agree. With respect to sales of Licensed
Products invoiced in a currency other than United States dollars, all amounts reported and payable under this Agreement shall be calculated based on the domestic currency where such sale is made and converted (as applicable) into the United States
dollar equivalent. The United States dollar equivalent shall be calculated using the average of the exchange rate (local currency per US$1) published in The Wall Street Journal, Western Edition, under the heading “Currency Trading”
on the last business day of each month during the applicable Calendar Quarter. 
 Article 4 

CONDUCT OF DEVELOPMENT 

AND COMMERCIALIZATION OF PRODUCT 

4.1 Transfer of Know-How. Within [...***...] after the Effective Date, Satiogen shall
disclose to Licensee, at no cost to Licensee, the Licensed Know-How as Controlled by Satiogen as of the Effective Date. Additionally, from time to time on an ongoing basis thereafter during the term of this
Agreement, Satiogen shall disclose to Licensee, at no cost to Licensee, such Licensed Patents and Licensed Know-How as may thereafter become Controlled by Satiogen or its Affiliates. During the time period
from the Effective Date until the ASBTi Effective Event or TGR5 Effective Event, as applicable, Licensee shall have the right to use the Licensed Know-How disclosed under the preceding two sentences for
research purposes consistent with the scope of the licenses set forth in Sections 2.1 and 2.2. 
 4.2 Representatives of the Parties.

 (a) Designation, Purpose and Decision Making. Within [...***...] after the Effective Date, each Party
will designate a primary representative for purposes of this Agreement (each, a “Representative”), who shall (i) discuss and manage further development efforts related to the ASBTi Program and TGR5 Program in the Field in the

  
 15 

 
Territory, and (ii) manage and facilitate in an orderly manner the transfer of Know-How and transition support. Each Party may replace its
Representative at any time upon written notice to the other Party. The Representatives will strive to reach consensus on any determinations with respect to further development efforts related to the ASBTi Program and TGR5 Program; provided, however,
that Licensee shall have final decision-making authority with respect to such matters. 
 (b) Meetings. The
Representatives will meet in person (or participate by telephone where necessary) no less frequently than [...***...] every Calendar Quarter, unless otherwise agreed by the Parties. The Representatives may also meet or be consulted from time to time
by means of telecommunications, videoconferences, electronic mail or correspondence, as deemed necessary or appropriate. Meetings of the Representatives that are held in person will alternate between the offices of the Parties, or such other place
as the Parties may agree. The first meeting of the Representatives will take place at the offices of one of the Parties within [...***...] after the Effective Date. 

(c) Powers and Duration. The Representatives will have only such purposes as are specifically stated in this
Agreement, and will have no power to amend or interpret this Agreement or waive a Party’s rights or obligations under this Agreement. The Representatives shall conclude their activities on the second anniversary of the ASBTi Effective Event.

 4.3 Licensee’s Obligation to Develop Licensed Products. 

(a) ASBTi Diligence Obligation. Following the ASBTi Effective Event, Licensee shall use Commercially Reasonable
Efforts to develop and commercialize Licensed Products using the ASBTi Patents and ASBTi Know-How and to achieve each milestone event set forth in Section 3.2(a). If (i) all research, development and
commercialization efforts with respect to all Licensed Products related to the ASBTi Patents and ASBTi Know-How, including without limitation all pre-clinical and
clinical trials, cease for a period in excess of [...***...], or (ii) Licensee determines to cease all efforts to develop and commercialize Licensed Products with respect to the ASBTi License at any time, then in either event Licensee shall
provide Satiogen with written notice thereof and Satiogen may elect to terminate this Agreement with respect to the ASBTi License only and such termination shall be deemed a termination by Licensee pursuant to Section 9.4(a). 

(b) TGR5 Diligence Obligation. Following the TGR5 Effective Event, Licensee will use Commercially Reasonable
Efforts to develop and commercialize Licensed Products using the TGR5 Patents and TGR5 Know-How and to achieve each milestone event set forth in Section 3.2(a). Without limiting the foregoing, Licensee
will use Commercially Reasonable Efforts to identify a lead Licensed Product candidate using the TGR5 Patents and TGR5 Know-How within [...***...] of the TGR5 Effective Event. In addition, if Licensee
determines, after the Effective Date, that a material delay in the performance of the diligence obligations described in this Section 4.3(b) is reasonably likely, Licensee will promptly inform Satiogen thereof and, at Satiogen’s written
request, the Parties shall convene a meeting to discuss the cause of 

  
 16 

 such delay, the estimated duration of the delay and the possibility of avoiding or
mitigating such delay. If (i) all research, development and commercialization efforts with respect to all Licensed Products related to the TGR5 Patents and TGR5 Know-How, including without limitation all pre-clinical and clinical trials, cease for a period in excess of [...***...], or (ii) Licensee determines to cease all efforts to develop and commercialize Licensed Products with respect to the TGR5 License at
any time, then in either event Licensee shall provide Satiogen with written notice thereof and Satiogen may elect to terminate this Agreement with respect to the TGR5 License only and such termination shall be deemed a termination by Licensee
pursuant to Section 9.4(a). 
 (c) General. 

(i) Following the ASBTi Effective Event and TGR5 Effective Event, as applicable, Licensee shall have sole responsibility and control
with respect to all further development and commercialization activities for Licensed Products; provided, however, that Licensee shall not be responsible for costs and expenses incurred by Satiogen and outstanding prior to such ASBTi Effective Event
or TGR5 Effective Event, as applicable. Licensee shall have sole responsibility and control with respect to seeking Regulatory Approvals to commercialize the Licensed Products, and Licensee or its designees shall hold legal title to all Applications
for Marketing Authorizations within the Territory. Licensee will be responsible for all safety and pharmacovigilance activities under Applicable Laws after the ASBTi Effective Event or TGR5 Effective Event, as applicable. 

(ii) Satiogen acknowledges and agrees that the drug development process is a process of scientific discovery and as such is inherently
unpredictable and delays to development of Licensed Products may occur for reasons beyond Licensee’s control as the Licensed Products are developed, and that the drug development process is subject to a high level of governmental regulation and
the requirements of the regulatory process of seeking drug approval may result in delays beyond Licensee’s control and that such delays or other similar delays, without evidence of some other lack of Commercially Reasonable Efforts, are not a
breach of this Section 4.3. 
 4.4 Licensee Obligation to Update Satiogen. At least [...***...] every year, Licensee
shall provide Satiogen with a written summary of the activities conducted during the preceding year with respect to the development and commercialization of Licensed Products (a “Development Report”). Each Development Report shall
include with respect to the applicable one (1) year period a description of the research and development activities conducted both in the United States and outside the United States with respect to Licensed Products. 

4.5 Regulatory. Promptly after the ASBTi Effective Event, or TGR5 Effective Event, as applicable, Satiogen shall take such
actions and execute such documents as are necessary or useful to transfer to Licensee all existing regulatory filings and approvals with respect to the ASBTi Program, TGR5 Program, and/or Licensed Products, as applicable. 

  
 17 

 Article 5 

INTELLECTUAL PROPERTY 

5.1 Patent Prosecution and Maintenance. 

(a) General. Licensed Patents shall be diligently filed, prosecuted and maintained by Satiogen using patent counsel reasonably
acceptable to Licensee. If the Licensed Patents are not being prosecuted by Satiogen in any country where Licensee desires to seek patent protection, Licensee shall have the right to require Satiogen to file and prosecute Licensed Patents in such
country, subject to the provisions of this Article 5. Satiogen shall bear all expenses incurred in filing, prosecuting and maintaining Licensed Patents, except as set forth in Section 3.4. Satiogen shall keep Licensee informed of the filing,
prosecution and maintenance of Licensed Patents, and shall furnish to Licensee copies of all substantive documents (e.g., office actions and responses) relevant to any such efforts in advance with sufficient time for Licensee to review and provide
comments on such documents, and shall in good faith take such comments into account. If Licensee reasonably concludes that any action, including any argument or claim amendment, proposed by Satiogen would result in a substantive reduction in breadth
of claim scope with respect to any Licensed Patent, then Licensee and Satiogen shall review the proposed revisions and following such review Satiogen shall, as appropriate, cause its patent counsel to modify such proposed action in order to avoid
such result. If Satiogen desires to allow any Licensed Patents to lapse or to abandon any Licensed Patents, Satiogen shall notify Licensee in writing not less than [...***...] prior to taking such action, and Licensee shall have the right to assume
the responsibility for and control of the prosecution and maintenance of such Licensed Patents, as applicable, at Licensee’s sole expense. 

(b) TGR5 Patent Segregation. Upon Licensee’s request, Licensee and Satiogen shall meet to review and determine in good
faith whether any TGR5 Patents may be segregated by means of continuation or divisional applications into those containing claims that solely or predominantly relate to [...***...] and those containing claims that solely or predominantly relate to
[...***...]. In the event the Parties are unable to agree in good faith on such determination, then patent counsel for each Party shall confer on the best way to proceed, taking into account the interests of both Parties; provided, however, that
Satiogen shall not reject, and shall cause Satiogen’s patent counsel to undertake, any claim segregation requested by Licensee that does not have a material adverse effect on claim scope that covers any product that is not a Licensed Product.
Following segregation of any TGR5 Patent, Licensee may, in its sole discretion, elect to terminate its license with respect to any particular patent application or patent resulting from such segregation by providing written notice of such
termination to Satiogen. In such event, the terminated patent application or patent shall no longer be deemed to be included within the TGR5 Patents or subject to this Agreement and Licensee shall have no further responsibility for patent
prosecution or maintenance costs for such patent application or patent. Licensee shall reimburse Satiogen for all expenses incurred in connection with any such claim segregation request by Licensee. 

  
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 5.2 Enforcement of Intellectual Property Rights. 

(a) General. Licensee and Satiogen will promptly notify the other of any infringement or misappropriation or
suspected infringement or misappropriation that may come to its attention relating to the Licensed Patents or Licensed Know-How, and will provide the other Party with reasonable information with respect
thereto. 
 (b) Satiogen Sole Right Prior to ASBTi Effective Event. Prior to the ASBTi Effective Event, if a
Third Party infringes or misappropriates any ASBTi Patent or ASBTi Know-How, Satiogen will have the sole right (but not the obligation), at its own expense, to pursue any and all injunctive relief, and any or
all compensatory and other remedies and relief (collectively, “Remedies”) against such Third Party, and Licensee will have the right to participate in such action in an advisory capacity at its own expense. In the event that
Licensee does not participate in such action, Satiogen shall keep Licensee reasonably informed regarding such action. In the event that the ASBTi Effective Event occurs after Satiogen initiates action under this Section 5.2(b), upon such
occurrence Licensee shall be permitted to take control of such action at its own expense, and the provisions of Section 5.2(d) shall apply as if such action had been initiated after the ASBTi Effective Event. 

(c) Satiogen Sole Right Prior to TGR5 Effective Event. Prior to the TGR5 Effective Event, if a Third Party
infringes or misappropriates any TGR5 Patent or TGR5 Know-How, Satiogen will have the sole right (but not the obligation), at its own expense, to pursue Remedies against such Third Party, and Licensee will
have the right to participate in such action in an advisory capacity at its own expense. In the event that Licensee does not participate in such action, Satiogen shall keep Licensee reasonably informed regarding such action. In the event that the
TGR5 Effective Event occurs after Satiogen initiates action under this Section 5.2(c), upon such occurrence Licensee shall be permitted to take control of such action at its own expense, and the provisions of Section 5.2(e) shall apply as
if such action had been initiated after the TGR5 Effective Event. 
 (d) Licensee First Right after ASBTi Effective
Event. After the ASBTi Effective Event, if a Third Party infringes or misappropriates any ASBTi Patent or ASBTi Know-How, Licensee will have the first right (but not the obligation), at its own expense, to
pursue any and all Remedies against such Third Party, and Satiogen will have the right to participate in such action at its own expense. Should Licensee determine not to pursue Remedies with respect to any such infringement or misappropriation of
ASBTi Patents or ASBTi Know-How within (a) [...***...] following the notice of alleged infringement or (b) [...***...] before the time limit, if any, set forth in the appropriate laws and regulations for the
filing of such actions, whichever comes first, then Satiogen will have the right (but not the obligation), at its own expense, to pursue Remedies against such Third Party, and Licensee shall have the right to participate in such action at its own
expense. 

  
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 (e) Licensee First Right after TGR5 Effective Event. After the
TGR5 Effective Event, if a Third Party infringes or misappropriates any TGR5 Patent or TGR5 Know-How, Licensee will have the first right (but not the obligation), at its own expense, to pursue any and all
Remedies against such Third Party, and Satiogen will have the right to participate in such action at its own expense. Should Licensee determine not to pursue Remedies with respect to any such infringement or misappropriation of TGR5 Patents or TGR5 Know-How within (a) [...***...] following the notice of alleged infringement or (b) [...***...] before the time limit, if any, set forth in the appropriate laws and regulations for the filing of such actions,
whichever comes first, then Satiogen will have the right (but not the obligation), at its own expense, to pursue Remedies against such Third Party, and Licensee shall have the right to participate in such action at its own expense. 

(f) Assistance and Cooperation; Recoveries. If a Party pursues Remedies hereunder with respect to infringement or
misappropriation of Licensed Patents or Licensed Know-How, the other Party shall assist and cooperate fully with the Party pursuing such Remedies, including, if required to bring such action, joining in any
action as set forth in this Section 5.2 or providing a power of attorney. Any damages or other amounts collected will be distributed, first, to the Party that pursued Remedies to cover its costs and expenses; and second, to the other Party to
cover its costs and expenses, if any, relating to the pursuit of such Remedies; and any remaining amount will be distributed to the Party that pursued the Remedies, provided, however, that any recovery by Licensee attributable to lost sales or lost
profits shall be deemed Net Sales hereunder, and a royalty shall be paid to Satiogen thereon pursuant to Section 3.2(b); and provided further, however, that any other or additional monetary recovery by Licensee shall be deemed Sublicense
Revenues, and shall be payable pursuant to Section 3.3(a) or Section 3.3(d), as applicable, if as of the date Licensee filed the action, a sublicense under the infringed or misappropriated intellectual property granted by Licensee on such
date would be subject to Section 3.3(a) or Section 3.3(d), or pursuant to Section 3.3(b), Section 3.3(c), Section 3.3(e) or Section 3.3(f), as applicable, if as of the date Licensee filed the action, a sublicense under
the infringed or misappropriated intellectual property granted by Licensee on such date would be subject to Section 3.3(b), Section 3.3(c), Section 3.3(e) or Section 3.3(f). 

(g) Settlement of Litigation. No settlement, consent judgment or other final disposition of an action for
infringement or validity or misappropriation may be entered into as to any Licensed Patent or Licensed Know-How without the prior written consent of both Parties, which consent shall not be unreasonably
withheld. 
 5.3 Infringement of Third Party Rights. If a Third Party institutes a patent, trade secret or other infringement
or misappropriation suit against Licensee during the term of this Agreement, alleging that the manufacture, marketing, sale, use or importation of the Licensed Products infringes or misappropriates one or more patent or other intellectual property
rights held by such Third Party, then Licensee will have the sole right (but not the obligation), at its sole expense, to assume direction and control of the defense of such claims. At Licensee’s request, Satiogen will provide reasonable
assistance in connection with the defense of such claims, and Licensee will reimburse Satiogen for all documented reasonable expenses incurred by Satiogen in connection therewith. 

  
 20 

 5.4 Ownership of Inventions. 

(a) Inventorship. Inventorship of inventions and discoveries conceived and reduced to practice during the term of
this Agreement shall be determined in accordance with the rules of inventorship under United States patent laws. Satiogen shall solely own and, except as set forth in Section 3.4, shall bear all expenses incurred in preparing, filing,
prosecuting and maintaining all patent applications and patents that encompass all such inventions and discoveries that are solely invented by Satiogen. Licensee shall solely own and shall bear all expenses incurred in preparing, filing, prosecuting
and maintaining all patent applications and patents that encompass all such inventions and discoveries that are solely invented by Licensee. 

(b) Assignment of Certain Joint Inventions; Related Licenses. 

(i) Ownership and Assignment. Licensee shall solely own all right, title and interest in, and shall bear all
expenses incurred in preparing, filing, prosecuting and maintaining all patent applications and patents that encompass, all Joint Inventions that relate to Licensed Products or the manufacture or use thereof (collectively “Licensee
Inventions”). Each party will promptly, but in no event later than [...***...] from invention, creation or conception, inform the other party of all Licensee Inventions. Information provided with respect to such Licensee Inventions will be
in reasonable detail but in no circumstance less than would be sufficient to permit an understanding of the nature of such Licensee Inventions by a practitioner reasonably skilled in the relevant technical or scientific area. Satiogen hereby
irrevocably, unconditionally, and without encumbrance of any kind assigns, forever waives, and agrees never to assert, and shall cause its Affiliates, employees and contractors to irrevocably, unconditionally, and without encumbrance of any kind
assign to Licensee, and forever waive and agree never to assert, its joint right, title, and interest in Licensee Inventions as necessary to give effect to the provisions of this Section 5.4(b). Each Party agrees to execute any documents and
take any other actions reasonably requested by any other Party (and shall cause its Affiliates, employees and contractors to do likewise) in order to give effect to the provisions of this Section 5.4(b). 

(ii) License to Satiogen. Licensee shall, and hereby does, grant to Satiogen a fully paid-up, non-exclusive, perpetual and irrevocable license with the right to grant sublicenses through multiple tiers, under Licensee Inventions to develop, make, have made,
use, sell, offer for sale, and import products other than Licensed Products, in the Field in the Territory; provided, however, that the foregoing license shall not include the right to conduct or have conducted any activities with respect to
(a) ASBT inhibitors or their use or manufacture, or (b) inhibition, activation, regulation or other modulation of the ASBT pathway, including without limitation with respect to any compound or any product containing any compound
(i) the manufacture, use, sale or import of which is covered by the ASBTi Patents, or (ii) which is based on the ASBTi Know-How (such activities, the “ASBTi Activities”). 

  
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 (iii) Research License to Satiogen. Licensee shall, and hereby
does, grant to Satiogen a fully paid-up, non-exclusive, perpetual and irrevocable license without the right to grant sublicenses, under Licensee Inventions solely for
internal research purposes in the Field in the Territory; provided, however, that the foregoing license shall not include (i) the right to conduct or have conducted any ASBTi Activities or (ii) the right to sell, offer for sale or
otherwise commercialize, or have any of the foregoing done with respect to, any Licensed Product. 
 (iv) Licensee
Invention Improvements. All inventions, discoveries and Know-How conceived, reduced to practice, made or developed by, on behalf of or for Satiogen or by, on behalf of or for its sublicensees (to the
extent such inventions, discoveries or Know-How are Controlled by Satiogen) under the licenses set forth in subsections (ii) and (iii) above during the term of this Agreement and which fall within the
definitions of Licensed Patents or Licensed Know-How hereunder (“Licensee Invention Improvements”) are automatically deemed to constitute ASBTi Patents, ASBTi
Know-How, TGR5 Patents or TGR5 Know-How, as applicable, for all purposes under this Agreement, including without limitation the license grants set forth in Sections 2.1
and 2.2. For clarity, with respect to inventions, discoveries and Know-How conceived, reduced to practice, made or developed by, on behalf of or for Satiogen’s sublicensees, such inventions, discoveries
and Know-How shall be deemed to constitute Licensee Invention Improvements (and ASBTi Patents, ASBTi Know-How, TGR5 Patents or TGR5
Know-How, as applicable), and the rights and licenses granted by Satiogen in this Agreement will apply with respect thereto, in each case to the greatest extent that is consistent with the applicable agreement
under which Satiogen obtained Control with respect to such inventions, discoveries and Know-How. For example, if Satiogen is entitled to grant only non-exclusive rights
and licenses with respect to such inventions, discoveries or Know-How, then such inventions, discoveries or Know-How shall be included in the license grants set forth in
Sections 2.1 and 2.2 on a non-exclusive basis. Notwithstanding the foregoing, Licensee shall not have any obligation to make any payments pursuant to Section 3.2 or 3.3 on the basis of or with respect to
any Licensee Invention Improvements. 
 (c) Other Joint Inventions. Except as set forth in Section 5.4(b)
above, Joint Inventions shall be owned jointly by Licensee and Satiogen, and all Patent Rights containing a claim covering any Joint Inventions shall be jointly owned by the Parties. Subject to the rights granted under this Agreement, including
without limitation the exclusive licenses granted under Section 2.1 and Section 2.2, each Party shall have the right to practice and exploit Joint Inventions and jointly owned Patent Rights without any obligation to account to the other
for profits, or to obtain any approval of the other Party to license, assign, or otherwise exploit Joint Inventions and jointly owned Patent Rights, by reason of joint ownership thereof, and each Party hereby waives any right it may have under the
laws of any jurisdiction to require any such approval or accounting; and to the extent there are any applicable laws that prohibit such a waiver, each Party will be deemed to so consent. Each Party agrees to be named as a party, if necessary, to
bring or maintain a lawsuit involving a Joint Invention or jointly owned Patent Rights. 

  
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 (d) Assistance of Dr. Slava Gedulin. As
soon as practicable after the Effective Date, Licensee and Dr. Slava Gedulin, a consultant of Satiogen, intend to enter into an agreement, pursuant to which Dr. Gedulin would become engaged as an employee or consultant of Licensee. If
Licensee and Dr. Gedulin enter into such an agreement, then notwithstanding anything to the contrary in subsections (a), (b) or (c) of this Section 5.4, Licensee shall solely own all right, title and interest in all inventions and
discoveries conceived or reduced to practice, and in all Know-How made or developed, by Dr. Gedulin during the term of her engagement by Licensee to the full extent provided under the applicable agreement
between Licensee and Dr. Gedulin (each a “Gedulin Invention” and collectively, “Gedulin Inventions”). To the extent a particular Gedulin Invention relates to Licensed Products or the manufacture or use thereof
or otherwise relates to the inventions covered by the Licensed Patents or to the Licensed Know-How, such Gedulin Invention shall be deemed to be a Licensee Invention solely for the purposes of rights, licenses
and obligations set forth in Sections 5.4(b)(ii), 5.4(b)(iii), 5.4(b)(iv) and 9.3(b). In the event that any right, title and interest in any Gedulin Invention (other than the rights under Sections 5.4(b)(ii), 5.4(b)(iii), 5.4(b)(iv) and 9.3(b) of
this Agreement) vests in Satiogen, Satiogen hereby irrevocably, unconditionally, and without encumbrance of any kind assigns, forever waives, and agrees never to assert, and shall cause its Affiliates, employees and contractors to irrevocably,
unconditionally, and without encumbrance of any kind assign to Licensee, and forever waive and agree never to assert, any such right, title, and interest in Gedulin Inventions as necessary to give effect to the provisions of this
Section 5.4(d). Each Party agrees to execute any documents and take any other actions reasonably requested by any other Party (and shall cause its Affiliates, employees and contractors to do likewise) in order to give effect to the provisions
of this Section 5.4(d). 
 5.5 Patent Reporting. Within [...***...] after each Calendar Year, Satiogen shall provide
Licensee with a written report describing the status of all Licensed Patents, including the patent country, patent and application numbers, filing date, issue date, expiration date, and any other relevant information requested by Satiogen. 

5.6 Trademarks. Licensee will own and be responsible for all trademarks related to its marketing of Licensed Products and will
be responsible, in its sole discretion, with respect to registering, defending and maintaining such trademarks. 
 5.7 Patent
Cooperation. Each Party hereby agrees to make its employees, agents and consultants reasonably available to the other Party (or the other Party’s authorized attorneys, agents or representatives) at the other Party’s expense, to the
extent reasonably necessary to enable the Party responsible for prosecuting the Licensed Patents to undertake preparation, filing, prosecution and maintenance of the Licensed Patents. 

  
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 5.8 Patent Term Extensions. Licensee shall have the right to prepare and file,
or to cause Satiogen to prepare and file, a patent term extension or supplementary protection certificate application with respect to any applicable Licensed Patent upon regulatory approval of a Licensed Product (the making, using, selling,
offering for sale, or importing of which would infringe such Licensed Patent), and the Parties will cooperate with each other and use reasonable efforts to obtain all available extensions and supplementary protection certificates for any such
Licensed Patent applicable to such Licensed Product. Each Party shall be permitted to assist and provide comments to the other Party, and to provide the regulatory timeline, diligence and regulatory period calculations required as part of the
application, to complete the application(s) for such extensions or supplementary protection certificates and to assist in any other matters related to preparation of the application(s) for such extensions or supplementary protection certificates,
and each Party will fully cooperate, in preparing and filing such a patent term extension or supplementary protection certificate application with respect to any such Licensed Patent within the limited time set for filing such application. All term
extensions under this Section 5.8 shall be owned by Satiogen. 
 Article 6 

CONFIDENTIALITY 

6.1 Confidential Information. The Parties agree that, unless the Receiving Party obtains the prior written consent of the
Disclosing Party, at all times during the term of this Agreement and for a [...***...] period following its expiration or earlier termination, the Receiving Party will keep completely confidential, will not publish or otherwise disclose and will not
use directly or indirectly for any purpose other than as contemplated by this Agreement any Confidential Information of the Disclosing Party, whether such Confidential Information was received by the Receiving Party prior to, on or after the
Effective Date. Confidential Information exchanged under the Nondisclosure Agreement dated October 31, 2010 shall also be included in this Section 6.1. 

6.2 Limited Disclosure Permitted. Each Party may disclose Confidential Information of the Disclosing Party to the extent that
such disclosure is: 
 (a) required by Applicable Laws, in the opinion of legal counsel to the Receiving Party;
provided, however, that the Receiving Party will first have given reasonable notice to the Disclosing Party (if practicable) and given the Disclosing Party a reasonable opportunity to obtain a protective order or confidential treatment requiring
that the Confidential Information and documents that are the subject thereof be held in confidence by the recipient or, if disclosed, be used only for purposes required by such law; provided further, however, that if a protective order is not
obtained, the Confidential Information so disclosed will be limited to that information that is legally required to be disclosed as required by Applicable Laws; 

(b) made by the Receiving Party to a governmental or regulatory authority, including FDA, as required to conduct
clinical trials or obtain or maintain Regulatory Approval for the Licensed Product; 
 (c) made by Licensee to a Third
Party or sublicensee as may be necessary or useful in connection with the manufacture, development and commercialization of any Licensed Product, provided that Licensee will in each case obtain from the proposed Third Party or sublicensee recipient
a written confidentiality agreement containing confidentiality and non-use obligations no less protective than those set forth in this Agreement in any material respect; 

  
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 (d) made solely with respect to the TGR5 Patents and/or TGR5 Know-How by Satiogen to a Third Party licensee or proposed licensee thereunder as may be necessary or useful in connection with the manufacture, development and commercialization of any product that is not a
Licensed Product, provided that Satiogen will in each case obtain from the Third Party a written confidentiality agreement containing confidentiality and non-use obligations no less protective than those set
forth in this Agreement in any material respect; 
 (e) made by the Receiving Party to a United States or foreign tax
authority; 
 (f) made by the Receiving Party to its representatives or to Third Parties in connection with financing
activities of the Receiving Party, or in connection with the transfer or sale of all or substantially all of the business of the Receiving Party to which this Agreement relates to a Third Party, whether by merger, sale of stock, sale or transfer of
assets or otherwise; provided, however, that: (i) each such representative or Third Party has, in the reasonable determination of the Receiving Party, a need to know such Confidential Information and has an obligation to maintain the
confidentiality of such information, (ii) the Receiving Party informs each representative or Third Party receiving Confidential Information of its confidential nature, and (iii) the Receiving Party will be responsible for any breach of
this Article 6 by any of its representatives or such Third Parties to the same extent as if the breach were by the Receiving Party; 

(g) made by a Receiving Party or any representative of the Receiving Party in the filing or prosecution of the Licensed
Patents or any patent claiming any invention owned by such Party pursuant to this Agreement, to the extent such disclosure in the filing or publication of the patent or patent application is, reasonably necessary for support of the patent or patent
application; or 
 (h) made by a Receiving Party in order to comply with applicable securities law disclosure
requirement or any disclosure requirements of any applicable stock market or securities exchange. 
 6.3 Disclosure of
Agreement. The Parties agree that the material terms of this Agreement shall be considered Confidential Information of both Parties, subject to the special authorized disclosure provisions set forth below in this Section 6.3 (in lieu of the
authorized disclosure provisions set forth in Section 6.2, to the extent of any conflict) and without limiting the generality of the definition of Confidential Information set forth in Article 1. The Parties will mutually agree the text of a
press release announcing the execution of this Agreement. Thereafter, if either Party desires to make a public announcement concerning the terms of this Agreement, 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, such approval not to be unreasonably withheld. A Party shall not be required to seek the permission of the other Party to repeat or disclose any information as to the terms of this
Agreement that has already been 

  
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publicly disclosed by such Party in accordance with the foregoing or by the other Party, or any similar or comparable information. Either Party may disclose the terms of this Agreement to such
Party’s existing investors, lenders, directors and professional advisors and to potential investors, lenders, acquirors or merger partners and their professional advisors who are bound by written or professional obligations of non-disclosure and non-use that are at least as stringent as those contained in this Article 6 or are customary for such purpose. Licensee also may disclose the relevant terms
of this Agreement to potential sublicensees who agree to be bound by obligations of non-disclosure and non-use at least as stringent as those contained in this Article 6
in all material respects. 
 6.4 Scientific Publications. Prior to making any formal scientific publication relating to the
ASBTi Program or the TGR5 Program (a “Scientific Publication”) after the Effective Date, each Party (the “Publishing Party”) agrees to provide the other Party (the “Reviewing Party”) the opportunity
to review: (a) any proposed Scientific Publication comprising a formal scientific paper for publication in any peer reviewed journal at least [...***...] prior to its intended publication, and (b) any proposed Scientific Publication
comprising a formal scientific abstract or poster at least [...***...] prior to its intended publication. The Reviewing Party shall have the right (i) to request in good faith a delay in the Scientific Publication in order to protect patentable
information; and (ii) to require the Publishing Party to remove from the Scientific Publication the Reviewing Party’s Confidential Information. If the Reviewing Party requests a delay pursuant to clause (i) of the preceding
sentence, the Publishing Party shall delay the Scientific Publication for a period of [...***...] from such request to enable patent applications to be filed protecting each Party’s rights in such information. Upon the expiration of the
applicable period specified above in this Section 6.4, the Publishing Party shall be free to proceed with the Scientific Publication as transmitted to the Reviewing Party, except to the extent that the Reviewing Party has exercised its rights
under clause (i) or (ii) of the second preceding sentence. The foregoing shall not apply to the following Scientific Publications that may be submitted or resubmitted for publication after the Effective Date without Licensee having any
rights regarding thereto as a Reviewing Party: (x) [...***...], and (y) a proposed Scientific Publication by [...***...]; provided, however, that Satiogen agrees to provide Licensee the opportunity to review and comment upon the
proposed Scientific Publication in clause (y) above for a period of [...***...], such period to begin at least [...***...] prior to its intended submission for publication, and Satiogen shall not unreasonably reject Licensee’s comments
thereto. 
 Article 7 

REPRESENTATIONS, WARRANTIES, COVENANTS, AND DISCLAIMERS 

7.1 No Litigation. Each Party represents and warrants to the other Party that, to the best of its knowledge as of the Effective
Date, there is no litigation, proceeding or investigation pending or threatened against or involving such Party in any court or before any agency or regulatory body which could adversely affect such Party’s ability or right to carry out the
transactions contemplated by this Agreement. 

  
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 7.2 Compliance with Applicable Laws; No Debarment. During the term of this
Agreement, each Party shall comply with all Applicable Laws. In addition to the foregoing, each Party represents and warrants to the other that it will comply at all times with the provisions of the Generic Drug Enforcement Act of 1992 and upon
request each Party will certify in writing to the other Party that neither such Party, its employees, nor any Person providing services for such Party under this Agreement has been debarred under the provisions of such Act. 

7.3 Corporate Existence. As of the Effective Date, each Party represents and warrants to the other that it is a company duly
organized, validly existing and in good standing under the laws of the jurisdiction in which it is formed. 
 7.4 Authority to
Execute and Perform. As of the Effective Date, each Party represents and warrants to the other that it: 
 (a) has
the power and authority and the legal right to enter into this Agreement and perform its obligations hereunder; 
 (b)
has taken all necessary company action on its part required to authorize the execution and delivery of this Agreement; and 

(c) has duly executed and delivered the Agreement, which constitutes a legal, valid, and binding obligation of it and
which is enforceable against it in accordance with the Agreement’s terms. 
 7.5 Representations and Warranties Regarding Securities
Issuances. 
 (a) Licensee Representations and Warranties. Licensee represents and warrants to Satiogen
that the Series A-1 Shares and the Common Shares, when issued, sold and delivered in accordance with the terms and conditions set forth in this Agreement, will be validly issued, fully paid and non-assessable, and free of restrictions on transfer other than restrictions on transfer under the Transaction Agreements, applicable state and federal securities laws and liens or encumbrances created by or imposed
by Satiogen. 
 (b) Satiogen Representations and Warranties. Satiogen represents and warrants to Licensee that:

 (i) Purchase Entirely for Own Account. The Series A-1 Shares and the
Common Shares to be acquired by Satiogen will be acquired for investment for Satiogen’s own account, not as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and Satiogen has no present intention of
selling, granting any participation in, or otherwise distributing the same. Satiogen does not presently have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or to any third
Person, with respect to any of the Series A-1 Shares or the Common Shares. 

  
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 (ii) Disclosure of Information. Satiogen has had an
opportunity to discuss Licensee’s business, management, financial affairs and the terms and conditions of the offering of the Series A-1 Shares and the Common Shares with Licensee’s management. 

(iii) Restricted Securities. Satiogen understands that the Series A-1
Shares and the Common Shares have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act
which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of Satiogen’s representations as expressed herein. Satiogen understands that the Series A-1 Shares
and the Common Shares are “restricted securities” under applicable U.S. federal and state securities laws and that, pursuant to these laws, Satiogen must hold such shares indefinitely unless they are registered with the Securities and
Exchange Commission and qualified by state authorities, or an exemption from such registration and qualification requirements is available. Satiogen acknowledges that Licensee has no obligation to register or qualify the Series A-1 Shares or the Common Shares, or any shares into which such shares may be converted, for resale except as set forth in the Transaction Agreements. Satiogen further acknowledges that if an exemption from
registration or qualification is available, it may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the Series A-1 Shares and the Common
Shares, and on requirements relating to Licensee which are outside of the Satiogen’s control, and which Licensee is under no obligation and may not be able to satisfy. 

(iv) No Public Market. Satiogen understands that no public market now exists for the Series A-1 Shares or the Common Shares, and that Licensee has made no assurances that a public market will ever exist for such shares. 

(v) Legends. Satiogen understands that the stock certificates for the Series
A-1 Shares and the Common Shares and any securities issued in respect of or exchange for such shares, may bear one or all of the following legends 

(1) “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.” 
 (2) Any
legend set forth in, or required by, the other Transaction Agreements. 

  
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 (3) Any legend required by the securities laws of any state to the
extent such laws are applicable to such shares represented by the certificate so legended. 
 (vi) Accredited
Investor. Satiogen is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities Act. 

7.6 Additional Satiogen Representations, Warranties and Covenants. Satiogen represents, warrants and covenants to Licensee that:

 (a) Satiogen owns all right, title and interest in and to the Licensed Patents on Exhibit A, free and clear
of all encumbrances, security interests, options and licenses, and Satiogen has the authority to direct the prosecution and maintenance of such Licensed Patents. The Licensed Patents listed on Exhibit A include all of the Patent Rights owned
or Controlled by Satiogen or its Affiliates related to the Programs. The Licensed Patents have been prosecuted and maintained in accordance with all Applicable Laws, and Satiogen is not aware of any prior art, prior disclosure or other event or
circumstance that would reasonably be expected to adversely affect the patentability, validity or enforceability thereof; 

(b) To Satiogen’s knowledge, the practice of the Licensed Patents and Licensed
Know-How as contemplated under this Agreement will not infringe the Patent Rights or other intellectual property rights of any Third Party. Neither Satiogen nor any of its Affiliates has received notice from
any Third Party claiming that the practice of the Licensed Patents or development, manufacture, use, sale, offer for sale or import of any Licensed Product infringes the Patent Rights or other intellectual property rights of any Third Party. During
the term of this Agreement, Satiogen shall promptly notify Licensee in writing upon learning of any such claim; 
 (c)
To Satiogen’s knowledge, there is no use, infringement or misappropriation of the Licensed Patents or Licensed Know-How in derogation of the rights granted to Licensee under this Agreement; 

(d) To Satiogen’s knowledge there are no investigations, inquiries, actions or other proceedings pending before the
FDA with respect to the ASBTi Program, TGR5 Program or Licensed Products, and Satiogen has not received written notice threatening any such investigation, inquiry, action or other proceeding. During the term of this Agreement, Satiogen shall
promptly notify Licensee in writing upon learning of any such actual or threatened investigation, inquiry, action or proceeding; 

(e) Satiogen has not withheld any information related to the ASBTi Program, TGR5 Program, or Licensed Products,
including, but not limited to, preclinical and clinical data, regulatory filings and regulatory communications, that would reasonably be expected to be material to Licensee’s decision to enter into this Agreement; 

(f) Satiogen has not granted to any Third Party or Affiliate any license or other right with respect to the Licensed
Patents or Licensed Know-How. During the term of this Agreement, Satiogen shall not grant any rights inconsistent with the rights and licenses granted herein, and Satiogen shall not assign the Licensed Patents
or Licensed Know-How except to a permitted assignee of this Agreement pursuant to Section 10.10; and 

  
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 (g) Satiogen has obtained the assignment of all interests and all
rights of any and all Third Parties (including employees and independent contractors) and Affiliates involved in the creation of the Licensed Patents and Licensed Know-How, and Satiogen has taken reasonable
measures to protect the confidentiality of the Licensed Know-How. 
 7.7 No Implied
Warranties. Except as expressly set forth in this Agreement, neither Party makes any representation or warranty, express or implied, with respect to the subject matter hereof or the transactions contemplated hereby. 

Article 8 

INDEMNIFICATION 
 8.1
Indemnification. 
 (a) Licensee’s Obligation. Except to the extent such Damages are due to gross negligence
or willful misconduct or breach of any representation, warranty or covenant in this Agreement by Satiogen, its Affiliates or their officers, directors, employees or agents, Licensee shall defend, indemnify and hold harmless Satiogen and its
Affiliates and their officers, directors, employees and agents against any and all Damages incurred by any of them resulting from or arising out of: 

(i) any gross negligence, willful misconduct or breach of any representation, warranty or covenant made by Licensee in
this Agreement; or 
 (ii) the handling, possession, development, manufacturing, marketing, distribution, promotion,
sale or use of Licensed Products or any other use of the Licensed Patents or Licensed Know-How by Licensee or its Affiliates or sublicensees. 

(b) Satiogen’s Obligation. Except to the extent such Damages are due to gross negligence or willful misconduct or
breach of any representation, warranty or covenant in this Agreement by Licensee, its Affiliates or their officers, directors, employees or agents, Satiogen shall defend, indemnify and hold harmless Licensee, its Affiliates and their officers,
directors, employees and agents against any and all Damages incurred by any of them resulting from or arising out of: 

(i) any gross negligence, willful misconduct or breach of any representation, warranty or covenant made by Satiogen in
this Agreement; 
 (ii) the handling, possession, development, manufacturing, marketing, distribution, promotion, sale
or use of Licensed Products or any other use of the Licensed Patents or Licensed Know-How by Satiogen or its Affiliates; and 

(iii) any activities conducted under any license granted to Satiogen under Section 5.4(b). 

  
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 8.2 Notice and Opportunity to Defend. 

(a) Notice. Promptly after receipt by a Party hereto of notice of any claim which could give rise to a right to
indemnification pursuant to Section 8.1, such Party (the “Indemnitee”) will give the other Party (the “Indemnifying Party”) written notice describing the claim in reasonable detail. The failure of an Indemnitee
to give notice in the mariner provided herein will not relieve the Indemnifying Party of its obligations under this Article 8, except to the extent that such failure to give notice materially prejudices the Indemnifying Party’s ability to
defend such claim. 
 (b) Defense of Action. In case any action that is subject to indemnification under this
Article 8 shall be brought against an Indemnitee and it shall give written notice to the Indemnifying Party of the commencement thereof, the Indemnifying Party shall be entitled to participate and, if it so desires, to assume the defense with
counsel reasonably satisfactory to such Indemnitee. After notice from the Indemnifying Party to the Indemnitee of its election to assume the defense, the Indemnifying Party shall not be liable to such Indemnitee under this Article 8 for any fees of
other counsel or any other expenses, in each case subsequently incurred by such Indemnitee in connection with the defense. 

(c) Indemnitee’s Separate Counsel. Notwithstanding the foregoing, the Indemnitee shall have the right to employ
separate counsel and to participate in the defense of such action, and the Indemnifying Party shall bear the reasonable fees, costs and expenses of such separate counsel if: (i) the use of counsel chosen by the Indemnifying Party to represent
the Indemnitee would present such counsel with a conflict of interest, and the Indemnifying Party does not elect to engage new counsel without such a conflict; (ii) the Indemnifying Party shall not have employed counsel reasonably satisfactory
to the Indemnitee to represent the Indemnitee within a reasonable time after notice of the institution of such action; or (iii) the Indemnifying Party shall authorize the Indemnitee in writing to employ separate counsel at the Indemnifying
Party’s expense. 
 (d) Settlement. If an Indemnifying Party assumes the defense of such action, no
compromise or settlement thereof may be effected by the Indemnifying Party without the Indemnitee’s written consent, which consent shall not be unreasonably withheld or delayed, unless there is no finding or admission of any violation of law or
any violation of the rights of the Indemnitee and no effect on any other claims that may be made against the Indemnitee. In any event, the Indemnitee and the Indemnifying Party may participate, at their own expense, in the defense of such asserted
claim. The Indemnifying Party shall not be liable for any settlement amounts if the settlement is effectuated by the Indemnitee without the Indemnifying Party’s prior written consent, which consent shall not be unreasonably withheld or delayed.

  
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 (e) Conduct of Defense. Notwithstanding anything to the
contrary in this Section 8.2, the Party conducting the defense of a claim will (1) keep the other Party informed on a reasonable and timely basis as to the status of the defense of such claim (but only to the extent such other Party is not
participating jointly in the defense of such claim), and (2) conduct the defense of such claim in a prudent manner. 
 8.3 Non-Waiver of Indemnification Rights. Each Indemnified Party’s rights under this Article 8 will not be deemed to have been waived or otherwise affected by such Indemnified Party’s waiver of the breach
of any representation, warranty, agreement or covenant contained in or made pursuant to this Agreement, unless such waiver expressly and in writing also waives any or all of the Indemnified Party’s right under this Article 8. 

Article 9 
 TERM AND
TERMINATION 
 9.1 Term. The term of this Agreement will begin upon the Effective Date and, unless sooner terminated under
this Article 9, will continue in full force and effect until the expiration of the last-to-expire Valid Claim of the Licensed Patents. Upon expiration of this Agreement,
Licensee will have a fully paid up, perpetual, irrevocable license under the ASBTi Know-How and TGR5 Know-How, as applicable. 

9.2 Termination by Either Party for Material Breach. Upon any material breach of this Agreement by either Party, the non-breaching Party may, at its option, terminate this Agreement upon ninety (90) days written notice to the breaching Party. Such termination shall become effective at the end of such ninety (90) day
period unless the breaching Party cures such breach or violation during such ninety (90) day period; provided, however, in the case of a breach or violation that cannot be cured within such ninety (90) day period, the non-breaching Party may terminate this Agreement following such ninety (90) day period only if the breaching Party shall have failed to commence substantial remedial actions within such ninety (90) day
period and to use best efforts to pursue the same (any failure to cure such breach or violation under this Section 9.2 shall be deemed an “Uncured Breach”). Any right to terminate under this Section 9.2 shall be stayed and
the cure period tolled in the event that, during any cure period, the breaching Party shall have initiated dispute resolution in accordance with Section 10.14 with respect to the alleged breach, which stay and tolling shall last so long as the
breaching Party diligently and in good faith cooperates in the prompt resolution of such dispute resolution proceedings. Each Party shall be entitled to offset, against amounts payable to the other Party under this Agreement, any amounts of Damages
determined, in a final decision by the applicable court action or other legal proceeding, to be owed to such Party by the other Party based on the other Party’s material breach of this Agreement. 

Notwithstanding the foregoing, to the extent a material breach of this Agreement by Licensee affects Licensee’s performance and
Satiogen’s rights under this Agreement as it relates to one or more countries, but not all countries, Satiogen may only terminate this Agreement in accordance with this Section 9.2 as to the affected country or countries only, and in such
case this Agreement will remain in full force and effect with respect to the countries that are not terminated. Further, to the extent a material breach of this Agreement by Licensee affects 

  
 32 

 
Licensee’s performance and Satiogen’s rights under this Agreement as it relates to one of the Licenses but not the other, Satiogen may only terminate this Agreement in accordance with
this Section 9.2 as to the affected one of the Licenses in the affected country, and in such case this Agreement will remain in full force and effect with respect to the non-affected one of the Licenses
that is not terminated in such country. 
 9.3 Rights upon Termination by Satiogen. If Satiogen terminates this Agreement
under Section 9.2, or Licensee terminates this Agreement under Section 9.4(a), then the following will take effect upon the effective date of such termination: 

(a) Reversion of Licensed Patents and Licensed Know-How and Assignment of
Sublicenses. All rights under the Licensed Patents and the Licensed Know-How granted by Satiogen to Licensee pursuant to Article 2 will terminate and all rights granted therein will immediately revert to
Satiogen; provided, however, that if the termination relates only to a specific country or a specific one of the Licenses in a specific country, then only the license pertaining to such country or specific one of the Licenses, as applicable, in such
country will revert to Satiogen hereunder. Any sublicense granted by Licensee hereunder shall survive such termination and automatically convert to a direct license between Satiogen and the sublicensee, provided such sublicense is consistent with,
and not in conflict with, the terms of this Agreement in any material respect. 
 (b) License to Licensee
Improvements and Licensee Inventions. Subject to the immediately following sentence, Licensee will grant to Satiogen a world-wide license, with the right to sublicense, under Licensee Improvements and Licensee Inventions (in each case solely to
the extent Controlled by Licensee as of the effective date of such termination) to develop, make, have made, use, offer to sell, sell and import Licensed Products in the Field solely in the country or countries in which Licensee’s rights to
Licensed Products were so terminated and solely with respect to one of the ASBTi License or TGR5 License, as applicable, in such country or countries for which Licensee’s rights were so terminated. The Parties shall negotiate in good faith
reasonable compensation and other terms, including without limitation exclusivity (or non-exclusivity) and a reasonable a royalty amount, from Satiogen to Licensee for such license. 

9.4 Additional Termination by Licensee. 

(a) Licensee may terminate this Agreement, or the provisions of this Agreement with respect to one of the Licenses, but
not the other, or with respect to both Licenses, for any reason or no reason upon [...***...] written notice to Satiogen. 

(b) If Licensee terminates this Agreement under Section 9.4(a), then the terms of Section 9.3 shall apply.

  
 33 

 9.5 Partial Termination Following Expiration of Exclusivity. Either Party may
terminate this Agreement with respect to the ASBTi License or the TGR5 License, as applicable, by providing written notice to the other Party (with immediate effect) if: 

(a) with respect to the ASBTi License, the ASBTi Exclusivity Period expires without occurrence of the ASBTi Effective
Event; or 
 (b) with respect to the TGR5 License, the TGR5 Exclusivity Period expires without occurrence of the TGR5
Effective Event. 
 Upon the effectiveness of any such termination, each Party’s obligations with respect to the terminated Program or
License (including applicable ASBTi Patents, TGR5 Patents, ASBTi Know-How and TGR5 Know-How) under this Agreement shall cease and be of no further force and effect. 

9.6 Residual Obligations upon Termination. 

(a) Termination of this Agreement (including any partial termination as to one or the other of the Licenses) for any
reason will not relieve either Party of any obligation or liability accruing prior thereto and will be without prejudice to the rights and remedies of either Party with respect to any antecedent breach of the provisions of this Agreement. Without
limiting the generality of the foregoing or the rights upon termination set forth in Section 9.3, no termination of this Agreement, whether by lapse of time or otherwise, will serve to terminate the rights and obligations of the Parties hereto
with respect to this Agreement as it relates to the Licenses or jurisdiction(s) for which this Agreement has not been terminated. The provisions of Sections 2.6, 3.5(a), 3.6, 3.7, 5.3, 5.4 (provided that no Gedulin Inventions conceived, reduced to
practice, made or developed after the date of termination or expiration shall be considered Licensee Inventions for any purpose) and 7.7 and Articles 1 (to the extent required to enforce other surviving rights and/or obligations), 6 (excluding
Section 6.4), 8, 9 and 10 are intended to and shall survive termination or expiration of this Agreement in accordance with the terms of such Articles or Sections. 

(b) Within [...***...] following the termination or expiration of this Agreement, each Party shall deliver to the other
Party any and all Confidential Information of the other Party in its possession, except that the terminating Party may retain such Confidential Information to the extent necessary or useful for the practice of its surviving license(s) hereunder (if
any), and except for one (1) copy of each item of the other Party’s Confidential Information which may be retained in confidential files solely for record purposes. 

9.7 Certain Remedies for Satiogen Uncured Breach. In the event of an Uncured Breach by Satiogen of Satiogen’s obligations
set forth in Section 5.2(f), the royalties with respect to all Licensed Products and amounts payable by Licensee under Section 3.3(i) each immediately shall be reduced by [...***...] of the amounts otherwise owed by Licensee under this
Agreement until such time as Satiogen has cured such Uncured Breach. For clarity, such reduction shall be cumulative with, and shall not limit the application of, any other reduction or offset to which Licensee is or may be entitled under this
Agreement. Without limiting the foregoing or any other remedy to which Licensee may be entitled, in the event Licensee takes action to enforce Section 7.6(f) of this Agreement on account of an Uncured Breach thereof by Satiogen and Licensee
prevails with respect to such enforcement (in a final decision by the 

  
 34 

 
applicable court action or other legal proceeding, or by settlement or otherwise), Satiogen shall pay all reasonable
out-of-pocket costs and expenses of Licensee and its Affiliates, including attorneys’ fees, incurred in connection with such enforcement. Without limiting any other
remedy to which it may be entitled, upon notice to Satiogen specifying in reasonable detail the basis for such offset, Licensee may, following such time as Licensee prevails with respect to such enforcement (in a final decision by the applicable
court action or other legal proceeding, or by settlement or otherwise), offset any amount to which it is entitled under this Section 9.7 against amounts otherwise payable by Licensee to Satiogen pursuant to Section 3.2 or Section 3.3.

 9.8 Bankruptcy Code. All licenses granted under this Agreement will be deemed licenses of rights to intellectual property
for purposes of Section 365(n) of the United States Bankruptcy Code and a licensee under this Agreement will retain and may fully exercise all of its rights and elections under the United States Bankruptcy Code. 

9.9 Additional Remedies. The remedies set forth in this Article 9 or elsewhere in this Agreement will be in addition to, and
will not be to the exclusion of, any other remedies available to the Parties at law, in equity or under this Agreement. 
 Article 10

 MISCELLANEOUS 

10.1 Independent Contractor. It is understood and agreed that the Parties shall have the status of an independent contractor
under this Agreement and that nothing in this Agreement shall be construed as creating any partnership, joint venture or employer-employee relationship between the Parties or as authorization for either Licensee or Satiogen to act as agent for the
other. 
 10.2 No Benefit to Others. The representations, warranties, covenants and agreements contained in this Agreement are
for the sole benefit of the Parties and their legal representatives, successors and assigns, and they shall not be construed as conferring any rights to any Third Party. 

10.3 Force Majeure. Each Party shall be excused from liability for the failure or delay in performance of any obligation under
this Agreement (other than payment obligation) by reason of any event beyond such Party’s reasonable control including Acts of God, fire, flood, explosion, earthquake, or other natural forces, war, civil unrest, acts of terrorism, accident,
destruction or other casualty, any lack or failure of transportation facilities, any lack or failure of supply of raw materials, any strike or labor disturbance, or any other event similar to those enumerated above. Such excuse from liability shall
be effective only to the extent and duration of the event(s) causing the failure or delay in performance and provided that the Party has not caused such event(s) to occur. Notice of a Party’s failure or delay in performance due to force majeure
must be given to the other Party within [...***...] after its occurrence. All delivery dates under this Agreement that have been affected by force majeure shall be tolled for the duration of such force majeure. In no event shall any Party be
required to prevent or settle any labor disturbance or dispute. 

  
 35 

 10.4 Amendment. This Agreement may not be amended, supplemented, or otherwise
modified except by an instrument in writing signed by authorized representatives of the Parties. 
 10.5 Entire Agreement.
This Agreement constitutes the entire agreement and understanding relating to the subject matter of this Agreement and supersedes all previous communications, proposals, representations and agreements, whether oral or written, relating to the
subject matter of this Agreement, including the Nondisclosure Agreement dated October 31, 2010. 
 10.6 Severability. If
any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future laws effective while this Agreement remains in effect, the legality, validity and enforceability of the remaining provisions will not be
affected thereby; provided, however, that, if the absence of such provision causes a material adverse change in either the risks or benefits of this Agreement to either Party, the Parties shall negotiate in good faith a commercially
reasonable substitute or replacement for the invalid or unenforceable provision. 
 10.7 Waiver. Any term or provision of this
Agreement may be waived at any time by the Party entitled to the benefit thereof only by a written instrument executed by such Party. No delay on the part of Satiogen or Licensee in exercising any right, power or privilege hereunder will operate as
a waiver thereof, nor will any waiver on the part of either Satiogen or Licensee of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege hereunder nor will any single or partial exercise of any right,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. 

10.8 Notices. All notices required or permitted to be given under this Agreement shall be in writing and shall be deemed given
upon receipt if delivered personally or by facsimile transmission (receipt verified), telexed, mailed by registered or certified mail (return receipt requested), postage prepaid, or sent by prepaid express courier service, to the Parties at the
following addresses (or at such other address for a Party as shall be specified by the notice; provided, that notices of a change of address shall be effective only upon receipt thereof): 

 

			
	 For Licensee:
	  	 Lumena Pharmaceuticals, Inc.
 c/o A.M.
Pappas & Associates, LLC
 P.O. Box 110287
 Research
Triangle Park, NC 27709
 Attention: Michael Grey

		
	 With a copy to:
	  	
		  	 A.M. Pappas & Associates, LLC
 P.O. Box
110287
 Research Triangle Park, NC 27709
 Attention: Ford S.
Worthy

  
 36 

			
	 With a further copy to:

		
		  	 Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan LLP

P.O. Box 2611
 Raleigh, NC 27601

Attention: Christopher Capel

		
	 For Satiogen:
	  	 Ted Greene
 277 Crystal Drive

Frankfort, MI 49635

	
	 With a copy to:

		
		  	 Rob Ayling
 3924 Henry Street

San Diego, CA 92103

 10.9 Governing Law. This Agreement shall be governed by, and construed in accordance with, the
laws of the State of Delaware, United States, excluding any choice of law rules that may direct the application of the law of any other jurisdiction. However, the scope, validity and enforceability of any patents encompassed within the scope of this
Agreement shall be determined in accordance with the Applicable Laws of the countries in which such patents have issued. 
 10.10
Assignability. Except as expressly provided hereunder, neither this Agreement nor any rights or obligations hereunder may be assigned or otherwise transferred by either Party without the prior written consent of the other Party (which consent
shall not be unreasonably withheld); provided, however, that either Party may assign this Agreement and its rights and obligations hereunder without the other Party’s consent: (a) to the transferee or successor entity to such Party upon
the transfer or sale of all or substantially all of the business of such Party to which this Agreement relates to a Third Party, whether by merger, sale of stock, sale or transfer of assets or otherwise; or (b) to an Affiliate, provided that
the assigning Party shall remain liable and responsible to the non-assigning Party hereto for the performance and observance of all such duties and obligations by such Affiliate; provided, however, in
either case that such transferee, successor entity or Affiliate (as applicable) shall deliver to the non-assigning Party a written instrument agreeing to be bound by this Agreement. The rights and obligations
of the Parties under this Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of the Parties, and the name of a Party appearing herein will be deemed to be replaced with the name of such Party’s
successors and permitted assigns to the extent necessary to carry out the intent of this section. For clarity, and without limiting the foregoing, the obligations of Licensee under this Agreement shall be binding upon any successors and permitted
assignee of Licensee, and the name of Licensee appearing herein will be deemed to be replaced with the name of Licensee’s successor or permitted assignee to the extent necessary to carry out the intent of this section. Any assignment not in
accordance with this Agreement shall be void. 
 10.11 Jointly Prepared. This Agreement will be deemed to have been drafted by
both Satiogen and Licensee and will not be construed against either Party as the draftsperson hereof. 

  
 37 

 10.12 Headings, Gender and Number. All section and article titles or captions
contained in this Agreement and in any exhibit, schedule or certificate referred to herein or annexed to this Agreement are for convenience only, will not be deemed a part of this Agreement and will not affect the meaning or interpretation of this
Agreement. Words used herein, regardless of the number and gender specifically used, shall be deemed and construed to include any other number, singular or plural, and other gender, masculine, feminine, or neuter, as the context requires. 

10.13 Interpretation. All references to days in this Agreement shall mean calendar days, unless otherwise specified. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “but not limited to” unless expressly stated otherwise. 

10.14 Dispute Resolution. 

(a) General. If any dispute arises relating to this Agreement, prior to instituting any lawsuit or other dispute resolution
process on account of such dispute, the Parties will attempt in good faith to settle such dispute first by negotiation and consultation between themselves, including referral of such dispute to the Chief Executive Officer of Licensee and the Chief
Executive Officer of Satiogen. If such executives are unable to resolve such dispute or agree upon a mechanism to resolve such dispute within [...***...] of the first written request for dispute resolution under this Section 10.14, then at the
request of either Party the dispute shall be submitted to non-binding mediation before a mutually acceptable mediator chosen by agreement of the parties. If disputes are not resolved through such mediation,
then either Party may seek any remedy, at law or in equity, which may be available. This provision shall not preclude any Party from seeking immediate injunctive relief in the event such Party believes that irreparable harm will occur. 

(b) Attribution of Sublicense Revenues. If Satiogen reasonably disputes how Licensee has Attributed any payment on account of
Sublicense Revenues, then within [...***...] of Satiogen’s receipt of the report pursuant to Section 3.5(b) describing such Attribution, Satiogen shall provide written notice of such dispute to Licensee and the Parties shall attempt in
good faith to settle such dispute first by negotiation and consultation between themselves, including referral of such dispute to the Chief Executive Officer of Licensee and the Chief Executive Officer of Satiogen. If such executives are unable to
resolve such dispute or agree upon a mechanism to resolve such dispute within [...***...] the Parties shall submit the matter to expert intervention to be resolved by one expert, to be mutually selected by the Parties. If the Parties fail to agree
on the expert within [...***...] of the written dispute notice, then the individuals nominated by each Party to serve as expert shall select a third individual to act as the expert. The expert shall be an industry consultant with expertise and
experience in product and intellectual property valuations in the human pharmaceutical industry, and shall not be an employee, director, shareholder or agent of either Party or an Affiliate of either Party, or otherwise involved (whether by contract
or otherwise) in the affairs of either Party. The intervention shall be conducted in San Diego, California. The expert shall provide a written rationale for its decision. The expert’s decision shall be final and the Attribution determined
by the expert (which shall be in compliance with Section 3.3(h)) immediately shall be binding upon the Parties under this Agreement. The intervention shall be completed within [...***...] of selection of the expert. The costs of the
intervention (exclusive of the expense of a Party in preparing for and participating in the intervention, all of which shall be borne by such Party) shall be shared equally by the Parties. 

  
 38 

 10.15 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be an original, but all of which taken together shall constitute one and the same agreement. It shall not be necessary in making proof of this Agreement or any counterpart hereof to produce or account for any of the
other counterparts. 
 10.16 Schedules, Exhibits and Attachments. Except with respect to Exhibit B, which provisions
shall not be effective unless and until set forth separately in a writing signed by the Parties in connection with the Financing, all schedules, exhibits and attachments referred to herein are intended to be and hereby are specifically made part of
this Agreement. However, if there is a conflict between a term or condition of such schedules, exhibits and attachments and this Agreement, the terms and conditions of this Agreement shall prevail. 

10.17 Further Assurances. At any time during the term of this Agreement, Satiogen and Licensee each will, at the request of the
other Party, use reasonable efforts to (a) deliver to the other Party such records, data or other documents, consistent with the provisions of this Agreement, (b) execute, deliver or cause to be delivered, all such assignments, consents,
documents or further instruments of transfer or license, and (c) take or cause to be taken all such other actions, as a Party reasonably may deem necessary or desirable in order for such Party to obtain the full benefits of this Agreement and
the transactions contemplated hereby. 
 [signature page to follow] 

  
 39 

 [Signature Page to License Agreement] 

IN WITNESS WHEREOF, the Parties by their respective authorized representatives, have
executed this Agreement. 
  

			
	SATIOGEN PHARMACEUTICALS, INC.
		
	By:	 	/s/ Howard E. Greene
	Printed:	 	Howard E. Greene, Jr.
	Title:	 	Chairman of the Board
	
	LUMENA PHARMACEUTICALS, INC.
		
	By:	 	 
	Printed:	 	 
	Title:	 	 

 [Signature Page to License Agreement] 

IN WITNESS WHEREOF, the Parties by their respective authorized representatives, have
executed this Agreement. 
  

			
	SATIOGEN PHARMACEUTICALS, INC.
		
	By:	 	 
	Printed:	 	 
	Title:	 	 
	
	LUMENA PHARMACEUTICALS, INC.
		
	By:	 	/s/ M G Grey
	Printed:	 	M G Grey
	Title:	 	President & CEO

 EXHIBIT A 

LICENSED PATENTS 
 ASBTi Patents:

  

					
	 Patent Application No.
	  	 Filing Date
	  	 Title

	[... ***...]	  	[... ***...]	  	[... ***...]

 TGR5 Patents: 
  

					
	 Patent Application No.
	  	 Filing Date
	  	 Title

	[... ***...]	  	[... ***...]	  	[... ***...]

 EXHIBIT B 

CERTAIN TERMS OF SERIES A-1 SHARES 

Protective Provisions 
 (i) At any
time when Series A-1 Shares are outstanding, Licensee shall not, without the consent of the holders of a majority of the outstanding Series A-1 Shares, voting together
as a separate class, amend Licensee’s Certificate of Incorporation or Bylaws if the proposed amendment would alter or change the powers, preferences, or special rights of the Series A-1 Shares so as to
affect them adversely; provided, however, that if any proposed amendment would alter or change the powers, preferences or special rights of one or more series of Licensee’s preferred stock, including the Series
A-1 Shares, so as to affect them adversely, then the shares of the series of preferred stock so affected by the amendment, including the Series A-1 Shares, shall vote
together as a single class on the proposed amendment and the Series A-1 Shares shall not be entitled to vote as a separate class on such proposed amendment, unless otherwise required by the Delaware General
Corporation Law. 
 Information and Board Observer Rights. 

(ii) Delivery of Financial Statements. As long as Satiogen owns not less than fifty percent (50%) of the Series A-1 Shares it is receiving under this Agreement (or an equivalent amount of Common Stock issued upon conversion thereof), Licensee shall deliver to Satiogen: annual and quarterly financial statements, and other
financial information as determined by Licensee’s Board of Directors (the “Board”) and as received by any other stockholders, such as budgets and capitalization information; provided, however, that Licensee shall not be
obligated under this Section to provide information (a) that Licensee reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to
Licensee) or (b) the disclosure of which would adversely affect the attorney-client privilege between Licensee and its counsel. Notwithstanding the foregoing, Licensee may cease providing the information set forth in this Section during the
period starting with the date sixty (60) days before Licensee’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the United States Securities and Exchange
Commission rules applicable to such registration statement and related offering; provided that Licensee’s obligations under this Section shall be reinstated at such time as Licensee is no longer actively employing its commercially reasonable
efforts to cause such registration statement to become effective. 
 (iii) Board Observer Rights. If Ted Greene is not a
member of the Board, and as long as Satiogen owns not less than fifty percent (50%) of the Series A-1 Shares it is receiving under this Agreement (or an equivalent amount of Common Stock issued upon conversion
thereof), Licensee shall invite a representative of Satiogen to attend all meetings of its Board in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents, and other materials that
it provides to its directors; provided, however, that such representative shall agree in form acceptable to Licensee to hold in confidence and trust and to act in a fiduciary manner with respect to all information so provided; and provided further,
that Licensee reserves the right to withhold any information and to exclude 

 
such representative from any meeting or portion thereof if access to such information or attendance at such meeting could adversely affect the attorney-client privilege between Licensee and its
counsel or result in disclosure of trade secrets or a conflict of interest. (Note: Board observer rights also to include so-called
pay-to-play provision whereby right terminates if Satiogen does not fund any commitment under the Financing; to be conformed to Transaction Agreements.) 

(iv) Termination of Information and Board Observer Rights. The covenants set forth in Section (ii) and Section
(iii) shall terminate and be of no further force or effect (a) when Licensee first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Securities Exchange Act of 1934, as amended, or successor
provisions or (b) upon a Deemed Liquidation Event, as such term (or comparable term) is defined in Licensee’s Certificate of Incorporation, whichever event occurs first. 

(v) Confidentiality. Satiogen agrees that it will keep confidential and will not disclose, divulge, or use for any purpose
(other than to monitor its investment in Licensee) any confidential information obtained from Licensee pursuant to the terms of this Agreement (including information obtained pursuant to Sections (ii) and (iii) above, and notice of the
Licensee’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section by Satiogen), (b) is or has been
independently developed or conceived by Satiogen without use of Licensee’s confidential information, or (c) is or has been made known or disclosed to Satiogen by a third party without a breach of any obligation of confidentiality such
third party may have to Licensee; provided, however, that Satiogen may disclose confidential information (w) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection with
monitoring its investment in Licensee; (x) to any prospective purchaser from Satiogen of capital stock of Licensee, if such prospective purchaser agrees in form acceptable to Licensee to be bound by the provisions of this Section (unless
Licensee determines that such disclosure may result in disclosure of trade secrets or a conflict of interest, or if the receiving party is a competitor of Licensee); (y) to any Affiliate, partner, member, stockholder, or wholly owned subsidiary of
Satiogen in the ordinary course of business, provided that Satiogen informs such Person that such information is confidential and directs such Person to maintain the confidentiality of such information; or (z) as may otherwise be required by
law, provided that Satiogen promptly notifies Licensee of such disclosure and takes reasonable steps to minimize the extent of any such required disclosure.

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