Document:

EX-10.25

 Exhibit 10.25 

 

 

         

			
		  	Project no. 832915/30000 TICK/SAI

  

 Funding contract 

agreed between 

Österreichische Forschungsförderungsgesellschaft mbH (FFG) 

as funding donor 
 and 

ARSANIS Biosciences GmbH 

HELMUT-QUALTINGER-GASSE 2 1030 VIENNA 

Company register number FN 354305 m 

as funding recipient. 
 1
Awarding of the funding 
  

					
	1.1	 	On the basis of the funding application “Development of human monoclonal antibody based product against severe hospital associated bacterial infections” submitted via eCall on 5/12/2011 and based on the
professional decision of the advisory board during the session of 6/28/2011, a funding for the following project is awarded:
			
		 	Project number:	  	832915
		 	eCall number:	  	2447334
		 	Project name (subject of the agreement):
		 		  	Development of human monoclonal antibody based product against severe hospital associated bacterial infections
		 	Program:	  	Basic program

  
 ./2 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
	 Page
 2
	  	Project no. 832915/30000 TICK/SAI

  

 2 Project duration 

 

	2.1	The overall project duration begins on 5/13/2011 and ends on 5/31/2015. 

  

	2.2	The funding of the entire project by the FFG is dependent on the results discernible in the submitted reports, the continued fulfillment of the evaluation and decision criteria, the budget available to the funding
donor, as well as a renewed positive funding decision. 

 3 Funding period 

 

	3.1	The objective funding period of the project begins on 5/13/2011 as the acceptance deadline and ends on 5/31/2012. 

4 Type and level of funding 
  

	4.1	The funding is provided in the following form for the funding period specified in section 3: 

  

					
	 Funding form
	  	Amount up to max.	 
	 FFG grant (HT BMWFJ)
	  	EUR	 661,500.00	 
	 FFG loan
	  	EUR	 529,000.00	 

  

			
	Loan conditions	  	
		
	Interest rate	  	2.0% p.a. on current account basis
		
	Repayment date:	  	on 6/30/2020
		
	Repayment amount:	  	EUR 529,000.00
		
	Interest and loan collection:	  	in direct debit
		
	Interest stipulation:	  	half-yearly in retrospect or on loan maturity

  

	4.2	The subsidized financing of the project amounts to 70.0% of the applicable and eligible project costs. The rest of the project cost funding is the responsibility of the funding recipient. Based on the planning data, the
funding cash value amounts to EUR 765,607.00, that is 45.0% related to the eligible costs according to point 5.1. 

  

	4.3	The maximum funding cash value according to the applicable community guidelines for state R&D aid amounts to 45.0%. 

  

	4.4	The consequence of the shortfall of the eligible project costs is an aliquot reduction of the funding. 

  

	4.5	The eligible project costs according to section 5 as well the costs reported through interim and final settlements do not represent any cost acknowledgment before an assessment by the FFG. The final amount of the
eligible total project costs as well as the funding are determined only after completion of the project during invoice verification. 

  
 ./3 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
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	  	Project no. 832915/30000 TICK/SAI

  

 5 Eligible costs 

 

	5.1	The funding is subject to the following eligible project costs: 

  

					
	 Personnel costs
	  	EUR	 1,000,000.00	 
	 R&D infrastructure use
	  	EUR	 57,000.00	 
	 General and material costs
	  	EUR	 547,300.00	 
	 Third-party services
	  	EUR	 39,000.00	 
	 Travel expenses
	  	EUR	 20,000.00	 
	 Patent costs
	  	EUR	 38,000.00	 
		  	  
	  
	 
	 Total eligible costs
	  	EUR	 1,701,300.00	 

  

	5.2	Eligible costs are all those costs and expenses attributable to the project that result directly, actually and additionally from the usual operating costs for the duration of the funded research activity. Additional
supplementary provisions to the eligible costs can arise from FFG guidelines and from the “guidelines for handling project costs in funding applications”. 

 

	5.3	Substantial changes to the cost structure require the prior written approval of the FFG. 

  

	5.4	The sales tax levied on the costs of the service is not eligible. In so far as this sales tax demonstrably and finally is to be borne by the funding recipient and consequently no
pre-tax deduction is applicable for him/her, it is taken into account as an eligible cost component. The—in whatever way—recoverable sales tax is not eligible, if the funding recipient does not get
it back. If the tax office regards a grant not as a taxable service of the funding recipient to the funding donor according to BGBI no. 663 of the 1994 sales tax, but as contractual remuneration and sales tax is thus payable to the tax office by the
funding recipient, the contractual remuneration is to be regarded as gross remuneration. An additional separate sales tax settlement is—for whatever legal reason—excluded. 

 

	5.5	If the amortization period of an item (section 285 ABGB), which is purchased to carry out the project, exceeds the funding period, the depreciation costs are eligible in the manner specified according to the FFG basis
programs guidelines and in the “guidelines for handling the project costs in funding requests and reports”. 

  

	5.6	The funding means of the funding donor must not be used for the creation of reserves and provisions according to BGBI no. 400 of the 1988 income tax law. The funding means must be used only for the services and
objectives set out in the funding request. 

  

	5.7	Recognized eligible costs are those which have arisen after receipt of the funding request. 

  

	5.8	The costs incurred by the funding recipient or his/her partners from preparation of the contract, or any transfer charges, must be borne by these parties and do not constitute eligible costs. 

  
 ./4 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
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	  	Project no. 832915/30000 TICK/SAI

  

	5.9	The funding donor reserves the right to defer, reduce or suspend payment of funding, if and as long as circumstances are such that the orderly execution of the sponsored project appears not to be guaranteed (e.g. the
cost justification is not provided as planned). 

 6 Project-specific conditions and requirements 

 

	6.1	Project-specific special conditions and requirements 

  

	 	1.	Before payment of the 1st installment, a cooperation agreement signed by the company and regulating cooperation and particularly the exploitation rights to development must be signed. 

 

	 	2.	Before payment of the 1st installment, a mutually signed cooperation contract with the company Arsanis Inc must be signed that regulates cooperation and particularly the exploitation rights to development. The economic
exploitation of the project results must occur predominantly in Austria. It must also be ensured that all patent rights relevant for the project are to be made available to Arsanis Biosciences GmbH according to FFG guidelines. 

 

	 	3.	Before payment of the 2nd installment, installment, Adimab LLC must provide evidence of the preparation of at least two monoclonal antibodies against E. coli and S. aureus. 

 

	 	4.	Before payment of the 2nd installment, installment, evidence of the establishment of in vitro models for testing monoclonal antibodies must be provided. 

 

	 	5.	The personnel and travel costs have generally been reduced. 

  

	 	6.	The costs for the Strategic Board must be settled as overheads via the personnel costs overhead rate. 

7 Payment of the funding 
  

	7.1	Payment of the 1st installment in the amount of 50% of the promised funding means follows after completion of the funding contract and fulfillment of the conditions and requirements agreed in Article 6.

 Payment of the second installment in the amount of 30% follows after approval of an interim report and an interim
settlement, where 50% of the approved total costs must be shown, as well as after fulfillment of the conditions and requirements agreed in Article 6. 

Payment of the final installment in the amount of 20% of total guaranteed funding means follows after fulfillment of the conditions and
requirements (final settlement, final reports, etc.) and after inspection and approval of the usage certificate (relief) by the FFG. 
  

	7.2	The transfer is made to the following account of the funding recipient 

 Account
owner:        ARSANIS Biosciences GmbH 
 Bank
name:               

IBAN:                       

BIC/SWIFT:             

  
 ./5 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
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	  	Project no. 832915/30000 TICK/SAI

  

 8 Reporting obligations 

 

	8.1	The funding recipient must report the implementation of the funded project by submitting technical reports (interim and final reports) and settlements to the FFG according to point 3 of the General Funding Conditions.
Reporting and accounting must take place via eCall (https://ecall.ffg.at). Use of the forms defined in eCall is mandatory. Further documents must be made available to the FFG on request. 

9 Contract changes 
  

	9.1	Changes to the current contract can be only made in written form. This applies also to a departure from this provision. 

  

	9.2	If necessary, subsequent changes to the agreed conditions and requirements can be made under special circumstances by mutual agreement in the form of written additional agreements, after reconsideration by the advisory
board. 

 10 Liability 
  

	10.1	The funding recipient must be liable without limit to the FFG for adherence to all contractual conditions. The funding recipient is also liable for the behavior of third parties for whom he/she is responsible (e.g.
owners, corporate bodies, etc.). The funding recipient indemnifies and holds the FFG harmless against the claims of third parties. 

11 Severability clause 
  

	11.1	If a provision of this funding contract proves ineffective, the effectiveness of the remaining provisions of the funding contract are not affected. The contracting parties undertake to replace an ineffective provision
by a provision that comes closest to the purpose of the contract. 

 12 Applicable law 

 

	12.1	This contract and all its annexes are subject to Austrian law excluding the reference provisions of the Austrian IPRG [International Private Law Act]. 

13 Jurisdiction 
  

	13.1	The competent court in Vienna has jurisdiction in all litigation arising from the granting of funds. The FFG also retains the right to sue the funding recipient in his/her general jurisdiction. 

14 Contract components 
  

	14.1	The following documents are the integral elements of the funding contract: 

  

	 	•	 	the funding request (“Development of human monoclonal antibody based product against severe hospital associated bacterial infections”) in the version of 5/12/2011, submitted via eCall 

 

	 	•	 	General funding conditions for funding contracts in the current version (1/26/2009) 

  

	 	•	 	FFG basis program guidelines in the current version (2/3/2011) 

  
 ./6 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
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	  	Project no. 832915/30000 TICK/SAI

  

	 	•	 	Guidelines for handling of project costs in funding requests and reports for projects with funding contracts according to FTE and FFG guidelines, version 1.2 

 

	14.2	The following are regarded as the legal basis of this funding contract: 

  

	 	•	 	Österreichische Forschungsförderungsgesellschaft mbH establishment act (research funding, structure reform act) in the currently applicable version 

 

	 	•	 	the guidelines for the Österreichische Forschungsförderungsgesellschaft mbH for the funding of research, technology, development and innovation (FFG guidelines GZ:
BMVIT-609.986/0005- 111/12/2008 and BMWA-98.310/0032-C1/10/2008) 

The funding recipient confirms his/her awareness of all contract components and accepts them without reservation. 

It is hereby noted that the objective funding offer must be deemed as revoked, if the funding recipient does not return it signed to the FFG within 3 months.

 For the funding donor: 
 Österreichische
Forschungsförderungsgesellschaft mbH (FFG) 
 [seal:] 

Austrian Research Promotion Agency mbH (FFG) 

Vienna, 7/1/2011 
  

					
	 /s/ Dr. Henrietta Egerth-Stadlhuber
	 		 	 /s/ Dr. Klaus Pseiner

	 Dr. Henrietta Egerth-Stadlhuber
 Managing
Director
	 		 	 Dr. Klaus Pseiner
 Managing
Director

 Funding recipient 

Vienna                    , on
September 20, 2011 
 /s/ Dr. Eszter Nagy  

(Add company signature, name and position in block letters, company stamp) 

DR. ESZTER NAGY, 
 Managing Director 

ARSANIS 
 Biosciences GmbH 

MarxBox 
 Helmut-Qualtinger-Gasse 2 

1030 Vienna 

  
 ./7 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
	 Page
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	  	Project no. 832915/30000 TICK/SAI

  

 Attachments: 

Guidelines for the Österreichische Forschungsförderungsgesellschaft mbH for funding of research, technology, development and innovation (FFG
guidelines) on link http://www.ffg.at/content/foerderrichtlinien Allgemeine Förderungsbedingungen für Förderungsverträge in der geltenden Fassung (1/26/2009) 

FFG basis program guidelines in the current version (2/3/2011) 

Guidelines for handling of project costs in funding requests and reports for projects with funding contracts according to FTE and FFG guidelines, version 1.2

  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         
  

			
	 ARSANIS Biosciences GmbH
 Attention Dr.
Eszter Nagy
 Helmut-Qualtinger-Gasse 2
 1030
Vienna
	  	

 Account statement of 12/31/2011 

Project 832915 
 Development of human monoclonal antibody based
product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18329150	 
	 Financial year:
	  	 	2011	 
	 Redemption amount (EUR):
	  	 	515,357.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	2.00	% 

  

					
	 Balance on 12/31/2010 (EUR)
	  	 0.00

			
	 Document date
	  	 Posting text
	  	 Transaction amount (EUR)

			
	10.13.2011	  	832915 DA rate BP basis	  	-264.500,00
			
	12.01.2011	  	832915 ZNS [interest] 2.0% on 12/31/2011	  	-1.165,00
			
	12.28.2011	  	832915 ZNS [interest] 2.0% on 12/31/2011	  	1.165,00
			
		  	Total debits (EUR)	  	265,665.00
			
		  	Total credits (EUR)	  	165,665.00
			
		  	Balance on 12/31/2011 (EUR)	  	-264,500.00

  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43(0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

         

			
	 ARSANIS Biosciences GmbH
 Attention Dr.
Eszter Nagy
 Helmut-Qualtinger-Gasse 2
 1030
Vienna
	  	

  

 Account statement on 12/31/2012 

Project 832915 
 Development of human monoclonal antibody based
product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18329150	 
	 Financial year:
	  	 	2012	 
	 Redemption amount (EUR):
	  	 	515,357.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	2.00	% 

  

					
	 Balance on 12/31/2011 (EUR)
	  	 -264,500.00

			
	 Document date
	  	 Posting text
	  	 Transaction amount (EUR)

			
	02.09.2012	  	832915 DA rate 2 BP basis	  	-158.700,00
			
	06.01.2012	  	832915 ZNS [interest] 2.0% on 6/30/2012	  	-3.930,00
			
	07.02.2012	  	832915 ZNS [interest] 2.0% on 6/30/2012	  	3.930,00
			
	08.23.2012	  	832915 DA rate 3	  	-92.157,00
			
	12.03.2012	  	832915 ZNS [interest] 2.0% on 12/31/2012	  	-4.996,00
			
	12.27.2012	  	832915 ZNS [interest] 2.0% on 12/31/2012	  	4.996,00
			
		  	Total debits (EUR)	  	259,783.00
		  	Total credits (EUR)	  	8,926.00
			
		  	Balance on 12/31/2012 (EUR)	  	-515,357.00

  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

  

 

         

			
	 ARSANIS Biosciences GmbH
 Attention Dr.
Eszter Nagy
 Helmut-Qualtinger-Gasse 2
 1030
Vienna
	  	

  

 Account statement on 12/31/2013 

Project 832915 
 Development of human monoclonal antibody based
product against severe 
 hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18329150	 
	 Financial year:
	  	 	2013	 
	 Redemption amount (EUR):
	  	 	515,357.00	 
	 Repayment date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	2.00	% 

  

					
	 Balance on 12/31/2012 (EUR)
	  	 •515,357.00

			
	 Document date
	  	 Posting text
	  	 Transaction amount (EUR)

			
	06.03.2013	  	832915 ZNS [interest] 2.0% on 6/30/2013	  	-5.186,00
			
	07.01.2013	  	832915 ZNS [interest] 2.0% on 6/30/2013	  	5.186.0
			
	12.02.2013	  	832915 ZNS [interest] 2.0% on 12/31/2013	  	-5.272,00
			
	12.30.2013	  	832915 ZNS [interest] 2.0% on 12/31/2013	  	5.272,00
			
		  	Total debits (EUR)	  	10,458.00
			
		  	Total credits (EUR)	  	10,458.00
			
		  	Balance on 12/31/2012 (EUR)	  	-515,357.00

  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

  

 

         

			
	 ARSANIS Biosciences GmbH
 Attention Dr.
Eszter Nagy
 Helmut-Qualtinger-Gasse 2
 1030
Vienna
	  	

  

 Account statement on 12/31/2014 

Project 832915 
 Development of human monoclonal antibody based
product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18329150	 
	 Financial year:
	  	 	2014	 
	 Redemption amount (EUR):
	  	 	515,357.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	2.00	% 

  

					
	 Balance on 12/31/2013 (EUR)
	  	 -515,357.00

			
	 Document date
	  	 Posting text
	  	 Transaction amount (EUR)

			
	06.02.2014	  	832915 ZNS [interest] 2.0% on 6/30/2014	  	-5.186,00
			
	06.30.2014	  	832915 ZNS [interest] 2.0% on 6/30/2014	  	5.186,00
			
	12.01.2014	  	832915 ZNS [interest] 2.0% on 12/31/2014	  	-5.272,00
			
	12.31.2014	  	832915 ZNS [interest] 2.0% on 12/31/2014	  	5.272,00
			
		  	Total debits (EUR)	  	10,458.00
			
		  	Total credits (EUR)	  	10,458.00
			
		  	Balance on 12/31/2014 (EUR)	  	-515,357.00

  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

  

 

         

			
	 ARSANIS Biosciences GmbH
 Attention Dr.
Eszter Nagy
 Helmut-Qualtinger-Gasse 2
 1030
Vienna
	  	

  

 Account statement on 12/31/2014 

Project 832915 
 Development of human monoclonal antibody based
product against severe 
 hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18329150	 
	 Financial year:
	  	 	2015	 
	 Redemption amount (EUR):
	  	 	515,357.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	2.00	% 

  

					
	 Balance on 12/31/2014 (EUR)
	  	 -515,357.00

			
	 Document date
	  	 Posting text
	  	 Transaction amount (EUR)

			
	06.01.2015	  	832915 ZNS [interest] 2.0% on 6/30/2015	  	-5.186,00
			
	06.30.2015	  	832915 ZNS [interest] 2.0% on 6/30/2015	  	5.186,00
			
		  	Total debits (EUR)	  	5,186.00
			
		  	Total credits (EUR)	  	5,186.00
			
		  	Balance on 10/31/2015 (EUR)	  	-515,357.00

  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)5 7755-0
 Fax+43 (0)5 7755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG ViennaEX-10.26

 Exhibit 10.26 
  

 

 
 Project no. 837128/30000 TICK/SAI 
  

 Funding contract 

agreed between 

Österreichische Forschungsförderungsgesellschaft mbH (FFG) 

as funding donor 
 and 

ARSANIS Biosciences GmbH 

Helmut-Qualtinger-Gasse 2 
 1030
Vienna 
 Company register number FN 354305m 

as funding recipient. 
 1
Awarding of the funding 
  

			
	1.1	  	On the basis of the funding application “Development of human monoclonal antibody based product against severe hospital associated bacterial infections” submitted via eCall on 5/11/2012 and based on the professional
decision of the advisory board during the session of 6/27/2012, a funding for the following project is awarded:
		
		  	 Project number: 837128
 eCall
number:3122344
 Previous project number: 832915
 Project
name (subject of the agreement):
 Development of human monoclonal antibody based product against severe hospital-associated bacterial
infections
 Program: Basic program

  
 ./2 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

			
	  
 Page 2
	  	 

 Project no. 837128/30000 SCK/SAI

 

 2 Project duration 

 

	2.1	The overall project duration begins on 5/13/2011 and ends on 5/31/2015. 

  

	2.2	The funding of the entire project by the FFG is dependent on the results discernible in the submitted reports, the continued fulfillment of the evaluation and decision criteria, the budget available to the funding
donor, as well as a renewed positive funding decision. 

 3 Funding period 

 

	3.1	The objective funding period of the project begins on 5/1/2012 as the acceptance deadline and ends on 4/30/2013. 

4 Type and level of funding 
  

	4.1	The funding is provided in the following form for the funding period specified in section 3: 

  

					
	 Funding form
	  	Amount up to max.	 
	 FFG grant (HT BMWFJ)
	  	 	EUR    964,200.00	 
	 FFG loan
	  	 	EUR    580,000.00	 

 Loan conditions 
  

			
	Interest rate	  	1.0% p.a. on current account basis
	Repayment date:	  	on 6/30/2020 EUR
	Repayment amount:	  	EUR 580,000.00
	Interest and loan collection:	  	in direct debit
	Interest stipulation:	  	half-yearly in retrospect or on loan maturity

  

	4.2	The subsidized financing of the project amounts to 70.0% of the applicable and eligible project costs. The remaining funding of the project costs is the responsibility of the funding recipient. Based on the planning
data, the funding cash value amounts to EUR 992,715.00, that is 45.0% related to the eligible costs according to point 5.1. 

  

	4.3	The maximum funding cash value according to the applicable community guidelines for state R&D aid amounts to 45.0%. 

  

	4.4	The consequence of the shortfall of the eligible project costs is an aliquot reduction of the funding. 

  

	4.5	The eligible project costs according to section 5 as well the costs reported through interim and final settlements do not represent any cost acknowledgment before an assessment by the FFG. The final amount of the
eligible total project costs as well as the funding are determined only after completion of the project during invoice verification. 

  
 ./3 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

			
	  
 Page 3
	  	 

 Project no. 837128/30000 SCK/SAI

 

 5 Eligible costs 

 

	5.1	The funding is subject to the following eligible project costs: 

  

					
	 Personnel costs
	  	 	EUR 1,233,400.00	 
	 R&D infrastructure use
	  	 	EUR    112,700.00	 
	 General and material costs
	  	 	EUR    380,000.00	 
	 Third-party services
	  	 	EUR    460,000.00	 
	 Travel expenses
	  	 	EUR      20,000.00	 
		  	  
	  
	 
	 Total eligible costs
	  	 	EUR 2,206,100.00	 

  

	5.2	Eligible costs are all those costs and expenses attributable to the project that result directly, actually and additionally from the usual operating costs for the duration of the funded research activity. Additional
supplementary provisions to the eligible costs can arise from FFG guidelines and from the “guidelines for handling project costs in funding applications”. 

 

	5.3	Substantial changes to the cost structure require the prior written approval of the FFG. 

  

	5.4	The sales tax levied on the costs of the service is not eligible. In so far as this sales tax demonstrably and finally is to be borne by the funding recipient and consequently no
pre-tax deduction is applicable for him/her, it is taken into account as an eligible cost component. The—in whatever way—recoverable sales tax is not eligible, if the funding recipient does not get
it back. If the tax office regards a grant not as a taxable service of the funding recipient to the funding donor according to BGBI no. 663 of the 1994 sales tax, but as contractual remuneration and sales tax is thus payable to the tax office by the
funding recipient, the contractual remuneration is to be regarded as gross remuneration. An additional separate sales tax settlement is—for whatever legal reason—excluded. 

 

	5.5	If the amortization period of an item (section 285 ABGB), which is purchased to carry out the project, exceeds the funding period, the depreciation costs are eligible in the manner specified according to the FFG basis
programs guidelines and in the “guidelines for handling the project costs in funding requests and reports”. 

  

	5.6	The funding means of the funding donor must not be used for the creation of reserves and provisions according to BGBI no. 400 of the 1988 income tax law. The funding means must be used only for the services and
objectives set out in the funding request. 

  

	5.7	Recognized eligible costs are those which have arisen after receipt of the funding request. 

  

	5.8	The costs incurred by the funding recipient or his/her partners from preparation of the contract, or any transfer charges, must be borne by these parties and do not constitute eligible costs. 

 

	5.9	The funding donor reserves the right to defer, reduce or suspend payment of funding, if and as long as circumstances are such that the orderly execution of the sponsored project appears not to be guaranteed (e.g. the
cost justification is not provided as planned). 

  
 ./4 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

			
	  
 Page 4
	  	 

 Project no. 837128/30000 SCK/SAI

 

 6 Project-specific conditions and requirements 

 

	6.1	Project-specific special conditions and requirements 

  

	 	1.	Before payment of the 1st installment, installment, the positive completion of the audit of project 832915 must be demonstrated by the FFG. 

 

	 	2.	The personnel and travel costs have generally been reduced. 

 7 Payment of the funding

  

	7.1	Payment of the 1st installment in the amount of 50% of the accepted funding means follows after completion of the funding contract and fulfillment of the conditions and requirements agreed in Article 6.

 Payment of the second installment in the amount of 30% follows after approval of an interim report and an interim
settlement, where 50% of the approved total costs must be shown, as well as after fulfillment of the conditions and requirements agreed in Article 6. 

Payment of the final installment in the amount of 20% of total guaranteed funding means follows after fulfillment of the conditions and
requirements (final settlement, final reports, etc.) and after inspection and approval of the usage certificate (relief) by the FFG. 
  

	7.2	The transfer is made to the following account of the funding recipient 

  

			
	Account owner:	  	ARSANIS Biosciences GmbH
	Bank name:	  	
	IBAN:	  	
	BIC/SWIFT:	  	

 8 Reporting obligations 
  

	8.1	The funding recipient must report the implementation of the funded project by submitting technical reports (interim and final reports) and settlements to the FFG according to point 3 of the General Funding Conditions.
Reporting and accounting must take place via eCall (https://ecall.ffg.at). Use of the forms defined in eCall is mandatory. Further documents must be made available to the FFG on request. 

9 Contract changes 
  

	9.1	Changes to the current contract can be only made in written form. This applies also to a departure from this provision. 

  

	9.2	If necessary, subsequent changes to the agreed conditions and requirements can be made under special circumstances by mutual agreement in the form of written additional agreements, after reconsideration by the advisory
board. 

 10 Liability 
  

	10.1	The funding recipient must be liable without limit to the FFG for adherence to all contractual conditions. The funding recipient is also liable for the behavior of third parties for whom he/she is responsible (e.g.
owners, corporate bodies, etc.). The funding recipient indemnifies and holds the FFG harmless against the claims of third parties. 

  
 ./5 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

			
	  
 Page 5
	  	 

 Project no. 837128/30000 SCK/SAI

 

 11 Severability clause 

 

	11.1	If a provision of this funding contract proves ineffective, the effectiveness of the remaining provisions of the funding contract are not affected. The contracting parties undertake to replace an ineffective provision
by a provision that comes closest to the purpose of the contract. 

 12 Applicable law 

 

	12.1	This contract and all its annexes are subject to Austrian law excluding the reference provisions of the Austrian IPRG [International Private Law Act]. 

13 Jurisdiction 
  

	13.1	The competent court in Vienna has jurisdiction in all litigation arising from the granting of funds. The FFG also retains the right to sue the funding recipient in his/her general jurisdiction. 

14 Contract components 
  

	14.1	The following documents are the integral elements of the funding contract: 

  

	 	•	 	the funding request (“Development of human monoclonal antibody based product against severe hospital associated bacterial infections”) in the version of 5/11/2012, submitted via eCall 

 

	 	•	 	General funding conditions for funding contracts in the current version (1/26/2009) 

  

	 	•	 	FFG basis program guidelines in the current version (3/22/2012) 

  

	 	•	 	Guidelines for handling of project costs in funding requests and reports for projects with funding contracts according to FTE and FFG guidelines, version 1.3 

 

	14.2	The following are regarded as the legal basis of this funding contract: 

  

	 	•	 	Österreichische Forschungsförderungsgesellschaft mbH establishment act (research funding, structure reform act) in the currently applicable version 

 

	 	•	 	the guidelines for the Österreichische Forschungsförderungsgesellschaft mbH for the funding of research, technology, development and innovation (FFG guidelines GZ:
BMVIT-609.986/0005- 111/12/2008 and BMWA-98.310/0032-C1/10/2008) 

  
 ./6 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

			
	  
 Page 6
	  	 

 Project no. 837128/30000 SCK/SAI

 

 The funding recipient confirms his/her awareness of all contract components and accepts them without
reservation. 
 It is hereby noted that the objective funding offer must be deemed as revoked, if the 

funding recipient does not return it signed to the FFG within 3 months. 

For the funding donor: 
 Österreichische
Forschungsförderungsgesellschaft mbH (FFG) 
 [seal:] 

Austrian Research Promotion Agency mbH (FFG) 

Vienna, on 7/2/2012 
  

					
	 /s/ Dr. Henriette Egerth-Stadlhuber
	 		  	 /s/ Dr. Klaus Pseiner

	 Dr. Henrietta Egerth-Stadlhuber
 Managing
Director
	 		  	 Dr. Klaus Pseiner
 Managing
Director

 Funding recipient 

Vienna, on 7/2/2012 
  

	
	 /s/ Eszter Nagy

 (Add company signature, name and position in block letters, company stamp) 

Attachments: 
 Guidelines for the Österreichische
Forschungsförderungsgesellschaft mbH for funding of research, technology, development and innovation (FFG guidelines) on link http://www.ffg.at/content/foerderrichtlinien 

General funding conditions for funding contracts in the current version (1/26/2009) 

FFG basis program guidelines in the current version (3/22/2012) 

Guidelines for handling of project costs in funding requests and reports for projects with 

funding contracts according to FTE and FFG guidelines, version 1.3 

  
 . 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

			
		  	

  

 ARSANIS Biosciences GmbH 

Attention Dr. Eszter Nagy 
 Helmut-Qualtinger-Gasse 2

 1030 Vienna 
 Account statement on 12/31/2012

 Project 837128 
 Development of human monoclonal antibody
based product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18371280	 
	 Financial year:
	  	 	2012	 
	 Redemption amount (EUR):
	  	 	580,000.00	 
	 Repayment date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	1.00	% 

  

							
	Balance on 12/31/2011 (EUR)	  	0.00	 
	 Document date
	  	 Posting text
	  	Transaction amount (EUR)	 
			
	09.20.2012	  	837128 DA rate 1 BP basis	  	 	-290.000,00	 
			
	12.03.2012	  	837128 ZNS [interest] 1.0% on 12/31/2012	  	 	-826,00	 
			
	12.13.2012	  	837128 DA rate 2 BP basis	  	 	-174.000,00	 
			
	12.27.2012	  	837128 ZNS [interest] 1.0% on 12/31/2012	  	 	826,00	 
			
		  	Total debits (EUR)	  	 	464,826.00	 
			
		  	Total credits (EUR)	  	 	826.00	 
			
		  	Balance on 12/31/2012 (EUR)	  	 	-464,000.00	 

  
 . 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0)57755-0
 Fax+43 (0)57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

 
 ARSANIS Biosciences GmbH 

Attention Dr. Eszter Nagy 
 Helmut-Qualtinger-Gasse 2

 1030 Vienna 
  

 Account statement on 12/31/2013 

Project 837128 
 Development of human monoclonal antibody based
product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18371280	 
	 Financial year:
	  	 	2013	 
	 Redemption amount (EUR):
	  	 	580,000.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	1.00	% 

  

							
	Balance on 12/31/2012 (EUR)	  	-464,000.00	 
	 Document date
	  	 Posting text
	  	Transaction amount (EUR)	 
	06.03.2013	  	837128 ZNS [interest] 1.0% on 6/30/2013	  	 	-2.337,00	 
			
	07.01.2013	  	837128 ZNS [interest] 1.0% on 6/30/2013	  	 	2.337,00	 
			
	09.19.2013	  	837128 DA rate 3	  	 	-116.000,00	 
			
	12.02.2013	  	837128 ZNS [interest] 1.0% on 12/31/2013	  	 	-2.707,00	 
			
	12.31.2013	  	837128 ZNS [interest] 1.0% on 12/31/2013	  	 	2.707,00	 
			
		  	 Total debits (EUR)
	  	 	121,044.00	 
			
		  	 Total credits (EUR)
	  	 	5,044.00	 
			
		  	 Balance on 12/31/2013 (EUR)
	  	 	-580,000.00	 

  
  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0) 57755-0
 Fax+43 (0) 57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

 
 ARSANIS Biosciences GmbH 

Attention Dr. Eszter Nagy 
 Helmut-Qualtinger-Gasse 2

 1030 Vienna 
  

 Account statement on 12/31/2014 

Project 837128 
 Development of human monoclonal antibody based
product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18371280	 
	 Financial year:
	  	 	2014	 
	 Redemption amount (EUR):
	  	 	580,000.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	1.00	% 

  
  

							
	Balance on 12/31/2013 (EUR)	  	-580,000.00	 
			
	 Document date
	  	 Posting text
	  	Transaction amount (EUR)	 
			
	06.02.2014	  	837128 ZNS [interest] 1.0% on 6/30/2014	  	 	-2.920,00	 
			
	06.30.2014	  	837128 ZNS [interest] 1.0% on 6/30/2014	  	 	2.920.0	 
			
	12.01.2014	  	837128 ZNS [interest] 1.0% on 12/31/2014	  	 	-2.968,0	 
			
	12.31.2014	  	837128 ZNS [interest] 1.0% on 12/31/2014	  	 	2.968,0	 
			
		  	 Total debits (EUR)
	  	 	5,888.00	 
			
		  	 Total credits (EUR)
	  	 	5,888.00	 
			
		  	 Balance on 12/31/2013 (EUR)
	  	 	-580,000.00	 

  
 . 

 

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0) 57755-0
 Fax+43 (0) 57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna
	  	

 

 
 ARSANIS Biosciences GmbH 

Attention Dr. Eszter Nagy 
 Helmut-Qualtinger-Gasse 2

 1030 Vienna 
  

 Account statement on 12/31/2014 

Project 837128 
 Development of human monoclonal antibody based
product against severe hospital associated bacterial infections 
  

					
	 Account no.:
	  	 	18371280	 
	 Financial year:
	  	 	2015	 
	 Redemption amount (EUR):
	  	 	580,000.00	 
	 Redemption date:
	  	 	6/30/2020	 
	 Interest rate:
	  	 	1.00	% 

  

							
	Balance on 12/31/2014 (EUR)	  	-580,000.00	 
			
	 Document date
	  	 Posting text
	  	Transaction amount (EUR)	 
			
	06.01.2015	  	837128 ZNS [interest] 1.0% on 6/30/2015	  	 	-2.920,00	 
			
	06.30.2015	  	837128 ZNS [interest] 1.0% on 6/30/2015	  	 	2.920,00	 
			
		  	 Total debits (EUR)
	  	 	2,920.00	 
			
		  	 Total credits (EUR)
	  	 	2,920.00	 
			
		  	 Balance on 12/31/2013 (EUR)
	  	 	-580,000.00	 

  
  

					
	 Österreichische

Forschungsförderungsgesellschaft mbH
 Sensengasse 1

1090 Vienna
	  	 Tel +43 (0) 57755-0
 Fax+43 (0) 57755-97900

www.ffg.at, office@ffg.at
 FN 252263a HG Vienna

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