Document:

License Agreement

 Exhibit 10.14 
 EXECUTION COPY 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL
TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 
 LICENSE AGREEMENT 
 This License
Agreement (this “Agreement”), dated as of May 31, 2006 (the “Effective Date”), is made by and between Bayer HealthCare AG, a German corporation (“Bayer”), and Aegerion Pharmaceuticals, Inc., a Delaware
corporation (“Aegerion”). Bayer and Aegerion are sometimes hereinafter referred to each as a “Party” and collectively as the “Parties.” 
 WHEREAS, Bayer has been engaged in the development of implitapide as an inhibitor of microsomal triglyceride transfer protein (“MTP”), and owns and otherwise controls certain patent rights and know-how
with respect thereto; 
 WHEREAS, Aegerion desires to acquire exclusive rights under the Bayer Patent Rights and Bayer Know-How (as defined
below) in order to continue the development thereof and products based thereupon; and 
 WHEREAS, the Parties desire to enter into an
agreement pursuant to which Bayer will grant an exclusive license to Aegerion under the Bayer Patent Rights and Bayer Know-How for Aegerion to develop and commercialize Licensed Compounds and Licensed Products (as defined below). 
 NOW, THEREFORE, the Parties hereby agree as follows: 
 Section 1. Definitions. 
 For the purpose of this Agreement, the following words and phrases shall have the meanings set
forth below: 
 1.1 “Affiliate” of an entity means any other entity which (directly or indirectly) is controlled by, controls or is
under common control with such entity. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”) as used with
respect to an entity means (i) in the case of a corporate entity, direct or indirect ownership of voting securities entitled to cast at least fifty percent (50%) of the votes in the election of directors or (ii) in the case of a
non-corporate entity, direct or indirect ownership of at least fifty percent 50%) of the equity interests with the power to direct the management and policies of such entity, provided that if local law restricts foreign ownership, control shall
be established by direct or indirect ownership of the maximum ownership percentage that may, under such local law, be owned by foreign interests. 
 1.2 “Bayer Know-How” means all Technology, now existing or hereafter arising during the time the license grant set forth in Section 2.1 is in effect, owned or otherwise Controlled by Bayer or any of its Affiliates, that is
related to the Bayer Patent Rights or that is reasonably necessary or useful for the manufacture, use, sale, offer for sale, importation, research, development or commercialization or other exploitation of any Licensed Compounds or Licensed Products
or Improvements. Exhibit A attached hereto lists specific Bayer Know-How. 

 LICENSE AGREEMENT 
  

 1.3 “Bayer Patent Rights” means: 
 (a) the patents and patent applications listed in Exhibit B-1 attached hereto, plus (a) all divisionals, continuations,
continuations-in-part thereof or any other patent application claiming priority directly or indirectly to (i) any of the patents or patent applications identified on Exhibit B-1 or (ii) any patent or patent application from
which the patents or patent applications identified on Exhibit B-1 claim direct or indirect priority, and (b) all patents issuing on any of the foregoing; and 
 (b) all other patents and patent applications owned or otherwise Controlled by Bayer or any of its Affiliates during the time the license
grant set forth in Section 2.1 is in effect that (i) claim any Improvements or their manufacture or use, or (ii) that are reasonably necessary for the manufacture, use sale, offer for sale, importation, research, development or
commercialization or other exploitation of any Licensed Compounds or Licensed Products (the patents and patent applications of this clause (b), collectively “Bayer Improvement Patents”), which Bayer Improvement Patents the
Parties shall list on Exhibit B-2 attached hereto during the term of this Agreement as provided for in Section 6.1, together with all registrations, reissues, re examinations, renewals, supplemental protection certificates and
extensions of any of the foregoing, and all foreign counterparts thereof. 
 1.4 “Combination Product” means a Licensed Product
that includes at least one additional active ingredient other than Licensed Compound. Drug delivery vehicles, adjuvants, and excipients shall not be deemed to be “active ingredients”, except in the case where such delivery vehicle,
adjuvant, or excipient is recognized as an active ingredient in accordance with 21 C.F.R. 210.3(b)(7). 
 1.5 “Commercially
Reasonable Efforts” means, with respect to Licensed Products, the carrying out of development and commercialization activities in a sustained manner using good faith commercially reasonable and diligent efforts, using the efforts that a company
within the pharmaceutical industry and similarly situated to Aegerion would reasonably devote to a product of similar market potential or profit potential resulting from its own research efforts, based on conditions then prevailing and taking into
account, without limitation, issues of safety and efficacy, product profile, the proprietary position, the then current competitive environment for such product and the likely timing of such product’s entry into the market, the regulatory
environment and status of such product, and other relevant scientific, technical and commercial factors. 
 1.6 “Confidential
Information” means all Technology, chemical or biological materials, marketing plans, strategies and customer lists, and other information that are disclosed or provided by such Party or its Affiliates to the other Party or its Affiliates,
regardless of whether any of the foregoing are marked “confidential” or “proprietary” or communicated to the other by the disclosing Party or its Affiliates in oral, written, graphic, or electronic form. 
 1.7 “Confidentiality Agreement” means that certain Mutual Nondisclosure Agreement, dated October 5, 2005, by and between the Parties.

 1.8 “Controlled” or “Controls”, when used in reference to patent or other intellectual property rights or Technology,
means the legal authority or right of a person or entity to grant a license or sublicense of intellectual property rights to another person or entity, or to otherwise disclose or provide Technology to such other person or entity, without breaching
the terms of any agreement with a different person or entity. 
 1.9 “FDA” means the United States Food and Drug Administration or
any successor agency thereto. 
 1.10 “First Commercial Sale” means, with respect to any Licensed Product on a country-by-country
basis, the first sale for use by the general public of such Licensed Product in such country after marketing approval of such Licensed Product has been granted, or marketing and sale of such Licensed Product is otherwise permitted, by the applicable
regulatory authority of such country. 
  

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 LICENSE AGREEMENT 
  

 1.11 “Improvements” means all Technology that amount to improvements to any of the
inventions claimed by the Bayer Patent Rights or to the Bayer Know-How made, developed, conceived, owner or otherwise Controlled by Bayer or any of its Affiliates after the date hereof, whether or not patentable or patented. 
 1.12 “Licensed Compound” means (a) the compound known as Bay 13-9952 and identified as “implitapide,” and (b) any metabolic
precursors, prodrugs, isomers (chiral and otherwise), metabolites, hydrates, anhydrides, solvates, salt forms, free acids or bases, esters, amides, ethers, complexes, conjugates or polymorphs of any compounds covered by the foregoing clause (a)
or this clause (b). 
 1.13 “Licensed Product” means any pharmaceutical product containing a Licensed Compound (alone or with
other active ingredients), in all forms, presentations, formulations and dosage forms. For clarification, Licensed Product shall include any Combination Product. 
 1.14 “NDA” means a New Drug Application filed with the FDA required for marketing approval for the applicable Licensed Product in the United States. 
 1.15 “Net Sales” means, with respect to any Licensed Product, the amount received by Aegerion and its Affiliates and Sublicensees for bona fide
sales of such Licensed Product to a Third Party (other than Sublicensees and Aegerion’s Afffiliates but including distributors for resale), less: 
 (a) discounts (including cash, quantity and patient program discounts), retroactive price reductions, charge-back payments and rebates granted to managed health care organizations or to federal, state and local
governments, their agencies, and purchasers and reimbursers or to trade customers; 
 (b) credits or allowances actually
granted upon claims, damaged goods, rejections or returns of such Licensed Product, including such Licensed Product returned in connection with recalls or withdrawals; 
 (c) freight out, postage, shipping and insurance charges for delivery of such Licensed Product; and 
 (d) taxes or duties levied on, absorbed or otherwise imposed on the sale of such Licensed Product, including value-added taxes, or other
governmental charges otherwise imposed upon the billed amount, as adjusted for rebates and refunds, to the extent not paid by the Third Party. 
 Net Sales shall not include any payments among Aegerion, its Affiliates and Sublicensees. Net Sales shall be determined in accordance with generally accepted accounting principles, consistently applied. Net Sales for any Combination Product
shall be calculated on a country-by-country basis by multiplying actual Net Sales of such Combination Product by the fraction A/B, where A is the weighted average price paid for the Licensed Product contained in such Combination Product if such
License Product is sold separately in finished form in such country, and B is the weighted average invoice price paid for such Combination Product in such country. If such Licensed Product is not sold separately in finished form in such country, the
parties shall determine Net Sales for such Licensed Product by mutual agreement based on the relative contribution of such Licensed Product and each such other active ingredients in such Combination Product in accordance with the above formula, and
shall take into account in good faith any applicable allocations and calculations that may have been made for the same period in other countries. 
  

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 LICENSE AGREEMENT 
  

 1.16 “Phase III Trial” means a human clinical trial of a Licensed Product on a
sufficient number of subjects that is designed to establish that a pharmaceutical product is safe and efficacious for its intended use, and to determine warnings, precautions and adverse reactions that are associated with such pharmaceutical product
in the dosage range to be prescribed, which trial is intended to support regulatory approval of a Licensed Product, all as described in 21 C.F.R. 312.21(c). For purposes of this Agreement, “Initiation of Phase III Trial” for a
Licensed Product means the first dosing of such Licensed Product in a human patient in a Phase III Trial. 
 1.17 “Technology”
means know-how, trade secrets, chemical and biological materials, formulations, information, documents, studies, results, data and regulatory approvals, data, filings and correspondence (including DMFs), including biological, chemical,
pharmacological, toxicological, pre-clinical, clinical and assay data, manufacturing processes and data, specifications, sourcing information, assays, and quality control and testing procedures, whether or not patented or patentable. 
 1.18 “Third Party” means any person or entity other than Aegerion or Bayer or any of their Affiliates. 
 1.19 “Valid Claim” means a claim of an issued and unexpired patent contained within the Bayer Patent Rights, which claim has not been revoked
or held invalid or unenforceable by a court or other government agency of competent jurisdiction from which no appeal can be or has been taken and has not been held or admitted to be invalid or unenforceable through re-examination, disclaimer,
reissue, opposition procedure, nullity suit or otherwise, and which claim covers a Licensed Product or its use. 
 Section 2. License Grant by Bayer.

 2.1 Exclusive License. Bayer, for itself and on behalf of its Affiliates, hereby grants to Aegerion and its Affiliates a
non-transferable (except in accordance with Section 10.1), exclusive (even as to Bayer and its Affiliates), worldwide license, with the right to sublicense in accordance with Section 2.2 only, under the Bayer Patent Rights and Bayer
Know-How, to make, have made, use, sell, offer to sell, import, research, develop, commercialize and otherwise exploit Licensed Compounds and Licensed Products and Improvements (but with respect to Improvements, only to the extent that any such
Improvement is used in connection with the foregoing licensed activities involving Licensed Compounds and Licensed Products). The foregoing license grant includes the right to make reference to all regulatory approvals, data, filings and
correspondence (including DMFs) contained within the Bayer Know-How. 
  

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 LICENSE AGREEMENT 
  

 2.2 Sublicenses. 
 (a) Subject to Section 2.3, the exclusive license contained in Section 2.1 includes the right to grant sublicenses (through
multiple tiers) to Third Parties (each such Third Party sublicensee, a “Sublicensee”), provided that Aegerion shall remain responsible for the performance of its Sublicensees hereunder. Aegerion shall provide Bayer with a copy of the
sublicense agreement for its Sublicensees within ninety (90) days of execution, which copy may be redacted to exclude financial and other sensitive terms and shall be treated as Confidential Information of Aegerion hereunder. 
 (b) Each sublicense granted by Aegerion to any rights licensed to it hereunder shall terminate immediately upon the termination of the
license from Bayer to Aegerion with respect to such rights, provided that such sublicensed rights shall not terminate if, as of the effective date of such termination by Bayer pursuant to Section 9.2, a Sublicensee is not in material default of
its obligations to Aegerion under its sublicense agreement, and within thirty (30) days of such termination the Sublicensee agrees in writing to be bound directly to Bayer under a license agreement substantially similar to this Agreement with
respect to the rights sublicensed hereunder, substituting such Sublicensee for Aegerion. 
 2.3 Bayer First Right of Negotiation. In
the event Aegerion desires at any time to have a Third Party sell one or more Licensed Products after their respective First Commercial Sale in a particular country or countries (a “Commercialization Agreement”), Aegerion shall notify
Bayer of its desire and provide Bayer with written notice specifying the applicable Licensed Product(s) and country(ies). If Bayer notifies Aegerion in writing of its election to pursue a Commercialization Agreement for such Licensed Product(s) in
such country(ies) within thirty (30) days of Bayer’s receipt of such notice, Aegerion and Bayer shall enter into good faith negotiations with respect to such Commercialization Agreement for a period of ninety (90) days following
Aegerion’s receipt of such election from Bayer (the “Negotiation Period”). During the Negotiation Period, Aegerion shall provide Bayer with such information Controlled by Aegerion regarding such Licensed Product(s) as Bayer may
reasonably request. If Aegerion and Bayer fail to enter into such Commercialization Agreement (notwithstanding those good faith negotiations), or if Bayer fails to notify Aegerion in writing of Bayer’s election to initiate the Negotiation
Period within such 30-day period, Aegerion shall thereafter be free to negotiate and enter into a Commercialization Agreement with one or more Third Parties for some or all of such Licensed Product(s) and country(ies), without any further obligation
or liability to Bayer. Bayer’s rights under this Section 2.3 shall not apply to any assignment by Aegerion permitted by Section 10.1, and this Section 2.3 shall terminate in full upon any such permitted assignment by Aegerion to
a non-Affiliated Third Party. 
 2.4 Restrictions on Bayer. 
 (a) Bayer and its Affiliates shall not grant or provide to any Third Party any Technology, patent or other intellectual property rights or
Confidential Information inconsistent with the terms of this Agreement. For as long as the license grant set forth in Section 2.1 is in effect, (i) Bayer Know-How shall be treated as Confidential Information of both Aegerion and Bayer, and
Bayer and its Affiliates shall not disclose Bayer Know-How except as permitted by Sections 7.1(b) or 7.1(c), and (ii) Bayer and its Affiliates shall not provide to any person or entity (other than Aegerion) any Licensed Compounds
whose use or sale infringes a Valid Claim. 
 (b) The Parties acknowledge that Bayer and its Affiliates do not currently have
any MTP inhibitor program under development and currently do not anticipate initiating any such program. Furthermore, Bayer and its Affiliates do not currently, nor do they intend to, assist any Third Party in developing any MTP inhibitors.
Notwithstanding the foregoing, except as otherwise prohibited by the terms of this Agreement, Bayer reserves the right to do research and development in the area of MTP inhibitors after the Effective Date. 
  

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 LICENSE AGREEMENT 
  

 2.5 License Limitations. No licenses or other rights are granted by Bayer hereunder to use any
trademark, trade name, trade dress or service mark owned or otherwise Controlled by Bayer or any of its Affiliates. All licenses and other rights are or shall be granted only as expressly provided in this Agreement, and no other licenses or other
rights is or shall be created or granted hereunder by implication, estoppel or otherwise. 
 Section 3. Transfer of Bayer Know-How. 
 3.1 Documentation. During the thirty (30) day period following the Effective Date, Bayer shall provide to Aegerion one (1) electronic
copy of all documents, data or other information listed on Exhibit A. 
 3.2 Purchase of Licensed Compound. During the
eighteen (18) month period following the Effective Date, Aegerion shall have the right, but not the obligation, to purchase and have transferred from Bayer, in accordance with Aegerion’s directions, any portion of Bayer’s inventory of
Licensed Compound from any batch that Aegerion may specify at a rate of one thousand five hundred Euros (€1,500) per kilogram of Licensed Compound. The foregoing right shall apply with respect to any batch of Bayer’s inventory of
Licensed Compound set forth in Exhibit C. During such eighteen (18) month period, Bayer shall transfer to Aegerion, at Aegerion’s reasonable request, representative samples of Bayer’s inventory of License Compound from any such
batch that Aegerion may specify for the purpose of testing such samples for viability (at Aegerion’s cost). With respect to any remaining inventory of Licensed Compound in Bayer’s or any of its Affiliates’ possession, (i) Bayer
shall not, and shall cause its Affiliates not to, use or transfer to Third Parties any of such remaining inventory for any purpose and (ii) during such eighteen-month period, [CONFIDENTIAL TREATMENT REQUESTED] /*/. Bayer represents and warrants
that (1) all of Bayer’s inventory of Licensed Compound has been manufactured in accordance with GMP, (2) Exhibit C contains a complete and accurate list of all batches of such inventory as of the Effective Date, including
accurate information related thereto, and (3) each batch of all such inventory has a remaining shelf life as of the Effective Date equal to the period of time between the Effective Date and the “Retest date” set forth in Exhibit
C for such batch. 
 3.3 Technical Assistance. During the six (6) month period following the Effective Date, Bayer shall
reasonably cooperate with Aegerion to (i) provide (a) up to seventy (70) hours of technical assistance without charge to Aegerion and (b) any additional hours of technical assistance as Aegerion may reasonably request, for which
Aegerion shall pay Bayer a rate of [CONFIDENTIAL TREATMENT REQUESTED] /*/ U.S. dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) per hour of such technical assistance, and (ii) transfer to Aegerion any additional Bayer Know-How licensed
under Section 2.1, in each case to facilitate the transfer of development efforts related to Licensed Compounds and Licensed Products. Such cooperation shall include providing Aegerion with reasonable access by teleconference or in-person at
Bayer’s facilities to Bayer personnel involved in the research and development of Licensed Compounds and Licensed Products to provide Aegerion with a reasonable level of technical assistance and consultation in connection with the transfer of
Bayer Know-How. 
  

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 LICENSE AGREEMENT 
  

 Section 4. Development and Commercialization. 
 4.1 Commercially Reasonable Efforts. Aegerion, or one of its Affiliates or Sublicensees, as applicable, shall use Commercially Reasonable Efforts
to develop and commercialize at least one Licensed Product. 
 4.2 Responsibilities and Costs. Aegerion shall have sole
responsibility for, and shall bear all its costs of conducting, all development and commercialization of Licensed Compounds and Licensed Products (including manufacturing all required materials, filing for and obtaining all required regulatory
approvals and submitting any adverse event reports to the applicable regulatory authority). Aegerion shall own the results of all such activities, and as between the Parties, all such regulatory approvals shall be obtained by and in the name of
Aegerion (or its Affiliates or Sublicensees). 
 4.3 Development Plan. Attached hereto as Exhibit D is a summary of
Aegerion’s initial “Development Plan,” which summarizes Aegerion’s plans for the development of Licensed Products. At least semi-annually until a marketing approval in a country for the first Licensed Product, Aegerion shall
provide to Bayer (i) any significant updates or revisions to the Development Plan for Bayer’s review (to the extent not prohibited by any agreement between Aegerion and a Sublicensee), and (ii) a report presenting a meaningful summary
of the development activities accomplished by Aegerion through the end of the preceding semi-annual period. Further, in the event Aegerion’s Board of Directors passes a final resolution to provide notice of the discontinuation of the
development of Licensed Compounds and Licensed Products hereunder, Aegerion shall notify Bayer in writing thereof within five (5) days of such final resolution, provided that such final resolution or discontinuation of development shall not
affect Aegerion’s rights hereunder. 
 Section 5. Aegerion Payments. 
 5.1 Initial License Fee. Aegerion shall pay to Bayer seven hundred and fifty thousand U.S. dollars (US$750,000) within thirty (30) days after
the Effective Date. 
 5.2 Milestone Payments. As set forth in the following table, Aegerion shall make Milestone Payments to Bayer
upon achievement of each of the Milestones Events. Each Milestone Payment shall be payable by Aegerion to Bayer within thirty (30) days after the achievement of the corresponding Milestone Event with respect to the first Licensed Product. Only one
set of Milestone Payments are payable hereunder no matter how many times any of the Milestone Events are achieved. 
  

			
	 “Milestone Event”
	  	 “Milestone Payment”

		
	1. [CONFIDENTIAL TREATMENT REQUESTED] /*/	  	US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/
		
	 2. [CONFIDENTIAL TREATMENT REQUESTED] /*/
	  	US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/
		
	3. [CONFIDENTIAL TREATMENT REQUESTED] /*/	  	US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/

 5.3 Annual Payments. Aegerion shall pay to Bayer, within [CONFIDENTIAL TREATMENT REQUESTED]
/*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days after the start of the 

  

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 LICENSE AGREEMENT 
  

 
corresponding calendar year, the following amounts, which amounts when paid shall be non-refundable: (i) for calendar year 2007, [CONFIDENTIAL TREATMENT
REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/), (ii) for calendar year 2008, [CONFIDENTIAL TREATMENT REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/), (iii) for calendar
year 2009, [CONFIDENTIAL TREATMENT REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/), (iv) for calendar year 2010, [CONFIDENTIAL TREATMENT REQUESTED] /*/ dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) and
(v) for calendar year 2011, [CONFIDENTIAL TREATMENT REQUESTED] /*/ United States dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) (each, an “Annual Payment”); provided, however, that each Annual Payment shall be creditable against
the Milestone Payments as such Milestone Payments become payable. [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 5.4 Commercialization
Milestone Payment. A one-time milestone payment of [CONFIDENTIAL TREATMENT REQUESTED] /*/ U.S. dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED] /*/) shall be payable by Aegerion to Bayer within thirty (30) days after the end of the calendar year
in which Aegerion and its Affiliates and Sublicensees first achieves aggregate Net Sales of all Licensed Products on which royalties are paid hereunder of [CONFIDENTIAL TREATMENT REQUESTED] /*/ U.S. dollars (US$ [CONFIDENTIAL TREATMENT REQUESTED]
/*/). 
  

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 LICENSE AGREEMENT 
  

 5.5 Royalties. 
 (a) Royalties. Subject to the terms and conditions of this Agreement (including the remainder of this Section 5), Aegerion
shall pay to Bayer royalties, on a country-by-country and product-by-product basis for the period of time specified in Section 5.5(b), at the graduated royalty rates specified in the following table with respect to the aggregate annual
worldwide Net Sales of all Licensed Products in a calendar year: 
  

			
	 Aggregate Annual Worldwide Net Sales
of All Licensed Products in a Calendar
Year
	  	 Royalty Rate

		
	On such Net Sales up to one hundred million U.S. dollars (US$100,000,000)	  	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent
 ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)

		
	On such Net Sales above one hundred million U.S. dollars (US$100,000,000) and up to two hundred fifty million U.S. dollars (US$250,000,000)	  	[CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)
		
	On such Net Sales above two hundred fifty million U.S. dollars (US$250,000,000) and up to five hundred million U.S. dollars (US$500,000,000)	  	[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)
		
	On such Net Sales above five hundred million U.S. dollars (US$500,000,000)	  	[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%)

 The applicable royalty rate shall be determined by reference to all Net Sales on which royalties
are paid in a given calendar year. [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 (b) Royalty Term. The royalties due under
Section 5.5(a) shall be payable on Net Sales from the First Commercial Sale of a particular Licensed Product until the later of, on a country-by-country basis, (i) the expiration of the last to expire patent in such country within the
Bayer Patent Rights containing a Valid Claim covering such Licensed Product or its use for which regulatory approval has been obtained in such country, or (ii) [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/)
years from such First Commercial Sale, provided that such [CONFIDENTIAL TREATMENT REQUESTED] /*/-year period shall apply only if there was in such country a Valid Claim within the Bayer Patent Rights covering such Licensed Product or its use for
which regulatory approval had been obtained in such country, and further provided that if royalties are owed on account of this clause (ii) but not the preceding clause (i), the royalty rates specified in Section 5.5(a) shall be
reduced by [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%). For clarity, only one [CONFIDENTIAL TREATMENT REQUESTED] /*/-year period under the foregoing clause (ii) above shall apply for all Licensed
Products containing the same Licensed Compound (i.e., for a given chemical entity, not including all of the variations thereof identified in clause (b) of the “Licensed Compound” definition). 
  

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 (c) Generic Competition. The royalty rates specified in Sections 5.5(a)
and 5.5(b) shall be reduced by [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) on a country-by-country basis at any such time where the sale of one or more Generic Product(s) in such country exceeds [CONFIDENTIAL
TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the unit sales volume for the applicable Licensed Product in that country, as measured by IMS Health or its successor. Such reduction shall be first applied with respect
to such country starting with sales in the calendar quarter following the first calendar quarter where the sales of the Generic Product(s) in such country exceed [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) of the unit sales volume of the applicable Licensed Product. 
 (d) Only One Royalty. Only one royalty shall be
due with respect to the sale of the same unit of Licensed Product. Only one royalty shall be due hereunder on the sale of a Licensed Product even if the manufacture, use, sale, offer for sale or importation of such Licensed Product infringes more
than one claim of the Bayer Patent Rights. 
 5.6 Credits and Reductions. The following shall apply to amounts payable to Bayer
hereunder: 
 (a) Dominated IP. [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) of third party royalties and milestones of actual costs paid or payable by Aegerion and its Affiliates for licenses and acquisitions by Aegerion, its Affiliates or Sublicensees of patent or other intellectual property rights dominating or
dominated by Bayer Patent Rights and therefore necessary to practice some or all of the Bayer Patent Rights in a particular country shall be creditable against payments owed Bayer under Sections 5.2 to 5.5. 
 (b) Other IP. Third party royalties and milestones (other than as credited under Section 5.6(a)) for the actual costs paid or
payable by Aegerion and its Affiliates for licenses and acquisitions by Aegerion, its Affiliates or Sublicensees of patent or other intellectual property rights reasonably necessary for the manufacture, use, sale, offer for sale or importation of
any Licensed Product in a particular country shall be creditable against payments owed Bayer under Sections 5.2 to 5.5, provided that, in the case of royalties, only where the aggregate royalty burden for such Licensed Product in a
particular country exceeds [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the Blended Rate (as defined below) and in such a royalty case, Aegerion will be entitled to a credit in the amount of
[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of such excess. For purposes of this Agreement, “Blended Rate” means (1) the total amount of royalties that would be payable in the
applicable calendar quarter and prior three (3) calendar quarters with respect to the applicable Licensed Product under Section 5.5 (without any reduction under this Section 5.6), divided by (2) the total Net Sales on which
royalties are paid for such Licensed Product for that same period, expressed as a percentage. 
 Notwithstanding the foregoing provisions of
this Section 5.6 or Sections 6.3(c) or 6.4, in no event shall Bayer receive less than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the aggregate original payments due hereunder under
Sections 5.2 to 5.5 for any given calendar quarter (with any unused credits to accumulate and be applied against future payments due to Bayer). 
 5.7 Payment Terms. 
 (a) Manner of Payment. All payments to be made by Aegerion
hereunder shall be made in U.S. dollars by wire transfer to such bank account as Bayer may designate. 
 (b) Reports and
Royalty Payments. For as long as royalties are due under Section 5.5(a), Aegerion shall furnish to Bayer a written report, within forty-five (45) days after the end of each calendar quarter, showing the amount of Net Sales of Licensed
Products and royalty due for such calendar quarter. 

  

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 LICENSE AGREEMENT 
  

 
Royalty payments for each calendar quarter shall be due at the same time as such written report for the calendar quarter. The report shall include, at a
minimum, the following information for the applicable calendar quarter, each listed by product and by country of sale: (i) the number of units of Licensed Products sold by Aegerion and its Affiliates and Sublicensees on which royalties are owed
Bayer hereunder; (ii) the gross amount received for such sales; (iii) deductions taken from Net Sales as specified in the definition thereof; (iv) Net Sales; (v) the amounts of any credits or reductions permitted by
Section 5.6 or elsewhere hereunder; (vi) the royalties and Milestone Payments owed to Bayer, listed by category; and (vii) the computations for any applicable currency conversions pursuant to Section 5.7(d). Aegerion shall use
commercially reasonable efforts to obtain permission from each Sublicensee to share with Bayer the information listed in the foregoing clauses (other than clause (iv)) as it relates to Net Sales made by such Sublicensee, and to the extent
successful, will include such Sublicensee information in such report. All such reports shall be treated as Confidential Information of Aegerion. 
 (c) Records and Audits. Aegerion shall keep, and shall cause each of its Affiliates and Sublicensees, as applicable, to keep adequate books and records of accounting for the purpose of calculating all royalties
payable to Bayer hereunder. For the two (2) years next following the end of the calendar year to which each shall pertain, such books and records of accounting (including those of Aegerion’s Affiliates and Sublicensees, as applicable)
shall be kept at each of their principal place of business and shall be open for inspection at reasonable times and upon reasonable notice by an independent certified accountant selected by Bayer, and which is reasonably acceptable to Aegerion, for
the sole purpose of inspecting the royalties due to Bayer under this Agreement. In no event shall such inspections be conducted hereunder more frequently than once every twelve (12) months. Such accountant must have executed and delivered to
Aegerion and its Affiliates and Sublicensees, as applicable, a confidentiality agreement as reasonably requested by Aegerion, which shall include provisions limiting such accountant’s disclosure to Bayer to only the results and basis for such
results of such inspection. The results of such inspection, if any, shall be binding on both Parties. Any underpayments shall be paid by Aegerion within thirty (30) days of notification of the results of such inspection. Any overpayments shall
be fully creditable against amounts payable in subsequent payment periods. Bayer shall pay for such inspections, except that in the event there is any upward adjustment in aggregate royalties payable for any calendar year shown by such inspection of
more than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of the amount paid, Aegerion shall reimburse Bayer for any reasonable out-of-pocket costs of such accountant. Any underpayments or overpayments
under this Section 5.7(c) shall be subject to the currency exchange provisions set forth in Section 5.7(d) as applied to the calendar quarter during which the royalty obligations giving rise to such underpayment or overpayment were
incurred by Aegerion. 
 (d) Currency Exchange. With respect to Net Sales invoiced in U.S. dollars, the Net Sales and
the amounts due to Bayer hereunder shall be expressed in U.S. dollars. With respect to Net Sales invoiced in a currency other than U.S. dollars, the Net Sales shall be expressed in the domestic currency of the entity making the sale, together with
the U.S. dollar equivalent, calculated using the official rate of exchange of such domestic currency as quoted by the Wall Street Journal, New York edition, for the last business day of the calendar quarter for which the payment is made. 

(e) Tax Withholding; Value-Added Tax. Aegerion shall have the right to withhold from payments due hereunder any tax which Bayer
is liable to under the appropriate tax laws and for the payments of which Aegerion is responsible. Bayer shall be sent tax receipts by Aegerion certifying the payments of the tax, so that Bayer may use it for claiming a credit on the tax payable by
Bayer in Germany on such payments. No deduction shall be made or a reduced amount shall be deducted if Bayer furnishes a document from all required tax authorities to Aegerion sufficiently before the due date of the payments, certifying that the
payments are exempt from tax or subject to a reduced tax rate according to the applicable convention for the avoidance of double taxation. Except for such withholding taxes and except for the personal corporate income tax of Bayer, any other taxes,
assessments, fees and charges 

  

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imposed against payments due to Bayer hereunder shall be borne by Aegerion. Besides the above said, both Parties will undertake commercially reasonable
efforts to minimize the allover tax burden for each of the Parties. Value-added tax shall apply as legally required. 
 (f)
Interest Due. Aegerion shall pay Bayer interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) per month or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent. 
 Section 6. Patent
Prosecution, Infringement and Extensions. 
 6.1 Appointment and Cooperation. With respect to all of the rights and activities of
Aegerion set forth in this Section 6, Bayer hereby appoints Aegerion as its agent for such purposes with the authority to act on Bayer’s behalf with respect to the Bayer Patent Rights. Bayer shall cooperate with Aegerion in the exercise of
Aegerion’s authority granted herein, and shall execute such documents and take such additional action as Aegerion may request in connection therewith. The Parties shall update Exhibits B-1 and B-2 upon either
Party’s reasonable request. 
 6.2 Prosecution and Maintenance. 
 (a) By Aegerion. On the Effective Date, Bayer shall provide Aegerion with copies of the complete prosecution files for all patents
and patent applications listed on Exhibit B. Aegerion shall be solely responsible for the preparation, prosecution (including any interferences, oppositions, reissue proceedings and reexaminations) and maintenance of the Bayer Patent
Rights, and all filing, prosecution, and maintenance decisions with respect to the Bayer Patent Rights shall be made by Aegerion, provided Bayer shall retain the right to give comments to Aegerion on material aspects of those activities. Aegerion
shall be responsible for all its costs incurred for such preparation, prosecution and maintenance. Each Party shall provide to the other Party copies of any papers relating to the filing, prosecution or maintenance of Bayer Patent Rights promptly
upon receipt. Bayer shall not take any action with respect to the prosecution or maintenance of any Bayer Patent Rights without the prior written consent of Aegerion, except as contemplated by Section 6.2(b). 
 (b) By Bayer. Aegerion shall not knowingly permit any of the Bayer Patent Rights to be abandoned in any country without Bayer first
being given an opportunity to assume full responsibility for the continued prosecution and maintenance of same. In the event that Aegerion decides not to continue the prosecution or maintenance of a patent application or patent within Bayer Patent
Rights in any country, Aegerion shall provide Bayer with notice of this decision at least thirty (30) days prior to any pending lapse or abandonment thereof. In the event that Bayer elects to assume responsibility for such prosecution and
maintenance within thirty (30) days of Aegerion’s notice, Section 6.2(a) shall thereafter apply to such patent application(s) and patent(s) except that the role of Aegerion and Bayer shall be reversed thereunder (including that Bayer
shall be solely responsible for all costs arising from those activities). Such patent application(s) and patent(s) shall otherwise continue to be subject to all of the terms and conditions of the Agreement in the same way as the other Bayer Patent
Rights. 
 (c) Bayer Improvement Patents. For any Bayer Improvement Patents, the roles of the Parties under
this Sections 6.2 shall be reversed. 
 6.3 Enforcement and Defense. 
 (a) By Aegerion. In the event that Bayer or Aegerion becomes aware of a suspected infringement of any Bayer Patent Right, or any
such Bayer Patent Right is challenged in any action or proceeding (other than any interferences, oppositions, reissue proceedings or reexaminations, which are addressed above), such Party shall notify the other Party promptly, and following such
notification, the Parties shall confer. Aegerion shall have the right, but shall not be obligated, to defend any such action or 

  

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proceeding or bring an infringement action with respect to such infringement at its own expense, in its own name and entirely under its own direction and
control, or settle any such action or proceeding by sublicense. Bayer shall reasonably assist Aegerion in any action or proceeding being defended or prosecuted if so requested, and shall join such action or proceeding if reasonably requested by
Aegerion or required by applicable law. Bayer shall have the right to participate in any such action or proceeding with its own counsel at its own expense and without reimbursement. 
 (b) By Bayer. If Aegerion elects not to settle, defend or bring any action for infringement described in Section 6.3(a) and so
notifies Bayer, then, if and only if such infringement would give rise to royalties payable to Bayer hereunder had Aegerion conducted the alleged infringing activities, Bayer may defend or bring such action at its own expense, in its own name and
entirely under its own direction and control, subject to the following: Aegerion shall reasonably assist Bayer in any action or proceeding being defended or prosecuted if so requested, and shall join such action or proceeding if requested by Bayer
or required by applicable law. Aegerion shall have the right to participate in any such action or proceeding with its own counsel at its own expense and without reimbursement. No settlement of any such action or proceeding which restricts the scope,
or adversely affects the enforceability, of a Bayer Patent Right may be entered into by Bayer without the prior written consent of Aegerion. 
 (c) Escrow in Certain Circumstances. On a country-by-country and product-by-product basis, in any action or proceeding in which a Third Party challenges the validity or enforceability of all (and not less than
all) of the Valid Claims under the Bayer Patent Rights in such country that cover such Licensed Product or its use (including by way of interference, opposition, reissue proceeding or reexamination, or in response to enforcement pursuant to
Section 6.3), then upon filing of such action or proceeding by a Third Party, fifty percent (50%) of all the royalties which would otherwise be paid to Bayer, with respect to such Licensed Product for such country affected by such action
or proceeding, shall be deposited in an interest bearing escrow account, until such time as all such Valid Claims expire. All monies in such escrow account, together with all accrued interest, shall be retained by Aegerion if all such Valid Claims
are found invalid or unenforceable by a court of proper jurisdiction in a decision unappealable or unappealed within the time allowed for appeal, and, if at least one such Valid Claim is found not invalid and not unenforceable by a court of proper
jurisdiction in such a decision, all monies in such escrow account, together with all accrued interest, shall be released to Bayer immediately. 
 (d) Withdrawal. If either Party brings an action or proceeding under this Section 6.3 and subsequently ceases to pursue or withdraws from such action or proceeding, it shall promptly notify the other Party
and the other Party may substitute itself for the withdrawing Party under the terms of this Section 6.3. 
 (e)
Damages. In the event that either Party exercises the rights conferred in this Section 6.3 and recovers any damages or other sums in such action or proceeding or in settlement thereof, such damages or other sums recovered shall first be
applied to all out-of-pocket costs and expenses incurred by the Parties in connection therewith (including attorneys fees), unless not reimbursable hereunder. If such recovery is insufficient to cover all such costs and expenses of both Parties, the
controlling Party’s costs shall be paid in full first before any of the other Party’s costs. If after such reimbursement any funds shall remain from such damages or other sums recovered, [CONFIDENTIAL TREATMENT REQUESTED] /*/. 

  

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 6.4 Third Party IP Claims. In the event of (i) a holding in any action or proceeding
enjoining Aegerion or any of its Affiliates or Sublicensees from manufacturing, using, selling, offering for sale, importing, developing or commercializing any Licensed Compounds or Licensed Products, or holding Aegerion or any such other entities
liable for damages for any such activities, in each case such holding unappealable or unappealed within the time allowed for appeal, or (ii) a settlement of any action or proceeding requiring payment of damages by Aegerion or any such party,
Bayer shall refund to Aegerion royalties paid with respect to all Licensed Products affected by such action or proceeding, from the time such action or proceeding is first brought, sufficient to reimburse Aegerion and all such entities for
[CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of all damages and costs and expenses paid or incurred by any of them with respect to such action or proceeding attributable to infringement or
misappropriation of any Third Party’s patent or other intellectual property rights, provided that in no event shall Bayer be required to refund more than [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED]
/*/%) of any such royalties paid by Aegerion, and provided further, in the event that such refund is not sufficient to compensate for such [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of all such
damages and expenses, Aegerion shall be entitled to reduce royalties payable to Bayer by up to [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) hereunder in each subsequent calendar quarter until such
time as Aegerion recovers in full such [CONFIDENTIAL TREATMENT REQUESTED] /*/ percent ([CONFIDENTIAL TREATMENT REQUESTED] /*/%) of all such damages and expenses. 
 6.5 Patent Extensions; Orange Book Listings; Patent Certifications. 
 (a) Patent
Term Extension. If elections with respect to obtaining patent term extension or supplemental protection certificates or their equivalents in any country with respect to Bayer Patent Rights or other patent rights covering Licensed Products or
their manufacture or use are available, Aegerion shall have the sole right to make any such elections. 
 (b) Data
Exclusivity and Orange Book Listings. With respect to data exclusivity periods (such as those periods listed in the FDA’s Orange Book (including any available pediatric extensions) or periods under national implementations of Article
10.1(a)(iii) of Directive 2001/EC/83, and all equivalents in any country), Aegerion shall have the sole right to seek and maintain all such data exclusivity periods available for the Licensed Products. 
 (c) Notification of Patent Certification. Bayer shall notify and provide Aegerion with copies of any allegations of alleged patent
invalidity, unenforceability or non-infringement of a Bayer Patent Right pursuant to a Paragraph IV Patent Certification by a Third Party filing an Abbreviated New Drug Application, an application under §505(b)(2) of the United States Federal
Food, Drug, and Cosmetic Act, as amended, or any other similar patent certification by a Third Party, and any foreign equivalent thereof. Such notification and copies shall be provided to Aegerion within two (2) days after Bayer receives such
certification, and shall be sent to the address set forth in Section 10.5. 
 Section 7. Confidential Information and Publicity. 
 7.1 Confidentiality. 
 (a) Confidential Information. Except as expressly provided herein, each of the Parties agrees that, for itself and its Affiliates, and for as long as this Agreement is in effect and for a period of 

  

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ten (10) years thereafter, a Party and its Affiliates (the “Receiving Party”) receiving Confidential Information of the other Party or
its Affiliates (the “Disclosing Party”) shall (i) not disclose such Confidential Information to any Third Party without the prior written consent of the Disclosing Party, except for disclosures expressly permitted below, and
(ii) not use such Confidential Information for any purpose except those licensed or otherwise authorized or permitted by this Agreement. For clarity, all Confidential Information of Aegerion received by or disclosed to Bayer hereunder shall be
used by Bayer only for ensuring that Aegerion complies with its obligations hereunder and for no other purposes. 
 (b)
Exceptions. The obligations in Section 7.1(a) shall not apply with respect to any portion of the Confidential Information that the Receiving Party can show by competent proof: 
 (i) is publicly disclosed by the Disclosing Party, either before or after it is disclosed to the Receiving Party hereunder; 
 (ii) was known to the Receiving Party or any of its Affiliates, without any obligation to keep it confidential or any restriction on its
use, prior to disclosure by the Disclosing Party; 
 (iii) is subsequently disclosed to the Receiving Party or any of its
Affiliates by a Third Party lawfully in possession thereof and without any obligation to keep it confidential or any restriction on its use; 
 (iv) is published by a Third Party or otherwise becomes publicly available or enters the public domain, either before or after it is disclosed to the Receiving Party; or 
 (v) has been independently developed by employees or contractors of the Receiving Party or any of its Affiliates without the aid,
application or use of Confidential Information of the Disclosing Party. 
 (c) Authorized Disclosures. The Receiving
Party may disclose Confidential Information belonging to the Disclosing Party to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 
 (i) subject to Section 7.2, by either Party in order to comply with applicable non-patent law (including any securities law or
regulation or the rules of a securities exchange) and with judicial process, if in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance; 
 (ii) by either Party, in connection with prosecuting or defending litigation, making regulatory filings, and filing, prosecuting and
enforcing patent applications and patents (including Bayer Patent Rights in accordance with Section 6); 
 (iii) by
Aegerion, to its Affiliates, potential and future collaborators (including Sublicensees), permitted acquirers or assignees under Section 10.1, research collaborators, subcontractors, investment bankers, investors, lenders, and their and each of
Aegerion and its Affiliates’ respective directors, employees, contractors and agents; and 
 (iv) by Bayer to its
Affiliates, permitted acquirers or assignees under Section 10.1, investment bankers, investors, lenders, and their and Bayer and its Affiliates’ respective directors, employees, contractors and agents, 
 provided that (1) with respect to Section 7.1(c)(i) or 7.1(c)(ii), where reasonably possible, the Receiving Party shall notify the Disclosing Party of the
Receiving Party’s intent to make any disclosure pursuant thereto sufficiently prior to making such disclosure so as to allow the Disclosing Party adequate time to take whatever action it may deem appropriate to protect the confidentiality of
the information to be disclosed, and (2) with respect to Sections 7.1(c)(iii) and 7.1(c)(iv), each of those named people and entities must be bound prior to disclosure by confidentiality and non-use restrictions at least as
restrictive 

  

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 LICENSE AGREEMENT 
  

 
as those contained in this Section 7 (other than investment bankers, investors and lenders, who must be bound prior to disclosure by commercially
reasonable obligations of confidentiality). In addition to the foregoing, Aegerion and its Affiliates and Sublicensees may make such disclosures of Bayer Know-How specifically concerning the Licensed Compound and its use as any of them may deem
reasonably necessary for their business. 
 7.2 Terms of this Agreement; Publicity. 
 (a) The Parties agree that the terms of this Agreement shall be treated as Confidential Information of both Parties, and thus may be
disclosed only as permitted by Section 7.1(c). Each Party agrees not to issue any press release or public statement disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof without the prior
written consent of the other Party (or as such consent may be obtained in accordance with Section 7.2(b)), which consent shall not be unreasonably withheld, or as permitted by Section 7.1(c). 
 (b) In the event either Party (the “Issuing Party”) desires to issue a press release or other public statement disclosing
information relating to this Agreement or the transactions contemplated hereby or the terms hereof, the Issuing Party shall provide the other Party (the “Reviewing Party”) with a copy of the proposed press release or public
statement (the “Release”). The Reviewing Party shall have three (3) business days to provide any comments on such Release, and if the Receiving Party fails to provide any comments during such three-day period, the Reviewing
Party shall be deemed to have consented to the issuance of such Release. If the Receiving Party provides any comments, the Parties shall consult on the such Release and work in good faith to prepare a mutually acceptable Release. Either Party may
subsequently publicly disclose any information previously contained in any Release so consented to. 
 7.3 Relationship to the
Confidentiality Agreement. This Agreement supersedes the Confidentiality Agreement, provided that all “Confidential Information” disclosed or received by the Parties thereunder shall be deemed “Confidential Information”
hereunder and shall be subject to the terms and conditions of this Agreement. 
 Section 8. Warranties; Limitations of Liability; Indemnification

 8.1 Bayer Representations and Warranties. Bayer covenants, represents and warrants to Aegerion that as of the Effective Date:

 (a) Bayer is a corporation duly organized, validly existing and in good standing under the laws of state or jurisdiction in
which it is incorporated, and it has full right and authority to enter into this Agreement and to grant the licenses and other rights to Aegerion as herein described. 
 (b) This Agreement has been duly authorized by all requisite corporate action, and when executed and delivered will become a valid and
binding contract of Bayer enforceable against Bayer in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other law affecting creditors’ rights generally from time to time if effect, and to
general principles of equity. 
 (c) The execution, delivery and performance of this Agreement does not conflict with any
other agreement, contract, instrument or understanding, oral or written, to which Bayer is a party, or by which it is bound, nor will it violate any law applicable to Bayer. 
 (d) All necessary consents, approvals and authorizations of all regulatory and governmental authorities and other persons or entities
required to be obtained by Bayer in connection with the execution and delivery of this Agreement and the performance of its obligations hereunder have been obtained. 
 (e) Exhibit A contains a list of all Bayer Know-How in Bayer’s possession as of the Effective Date that Bayer has reasonably
concluded Aegerion will find reasonably necessary or useful for 

  

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 LICENSE AGREEMENT 
  

 
the manufacture, use, sale, offer for sale, importation, research, development or commercialization or other exploitation of any Licensed Compounds or
Licensed Products or Improvements. Attached hereto as Exhibit B is a complete and accurate list of all patents and patent applications owned (in whole or in part) or otherwise Controlled by Bayer or any of its Affiliates that the
manufacture, use, sale, offer for sale or importation of any Licensed Compounds (alone or as part of any Combination Product) would infringe. To the knowledge of Bayer, the issued claims included in the Bayer Patent Rights are valid and enforceable,
and no written claim has been made (except by a patent examiner during prosecution of the patent application(s) that resulted in any such issued patent claims), and no action or proceeding has been commenced or threatened, alleging to the contrary.
Bayer is the sole and exclusive owner of all right, title and interest in and to the Bayer Patent Rights. None of the Bayer Patent Rights or Bayer Know-How is subject to any lien, security interest or other encumbrance. To Bayer’s knowledge,
the conception and reduction to practice of the Bayer Patent Rights have not constituted or involved the misappropriation of trade secrets or other rights or property of any Third Party. There are no claims, judgments or settlements against or
amounts with respect thereto owed by Bayer or any of its Affiliates relating to the Bayer Patent Rights. To Bayer’s knowledge, there has been no infringement by any Third Party of any Bayer Patent Rights. The use or practice of the license
grant contained in Section 2.1 shall not trigger any payment obligation by Bayer or any of its Affiliates or Former Licensees (as defined below) to any Third Party. 
 (f) There is no pending action or proceeding alleging, or, to Bayer’s knowledge, any written communication alleging, that the
manufacture, use, sale, offer for sale or importation of any Licensed Compounds (alone or as part of any Combination Product), the activities of Bayer or any of its Affiliates or any of their licensees with respect to any such Licensed Compounds, or
the practice or use of the Bayer Patent Rights or Bayer Know-How, has or will infringe or misappropriate any patent or other intellectual property rights of any Third Party. Bayer has notified Aegerion of all such rights of any Third Party of which
Bayer is aware that are related to the foregoing activities, including those patents set forth on Exhibit E-1. 
 (g)
Except as set forth in Exhibit E-2: 
 (i) Pharmaceutical Product Development, Inc. (together with its affiliates,
including Medical Research Laboratories International, LLC, collectively “PPD”) and Evan Stein, MD, PhD (“Dr. Stein”) constitute all Former Licensees known to Bayer, wherein “Former Licensees” means Bayer’s former
licensees under any Bayer Patent Rights or Bayer Know-How with respect to any Licensed Compounds and their sublicensees, subcontractors, clinical partners and other collaborators. 
 (ii) Since Bayer has not done an in-depth analysis of IP since 2002 when implitapide was originally out-licensed, Bayer can only represent
that to its knowledge in light of the gap identified, it has sufficient rights (by ownership or license) in and to all Former Licensees IP (as defined below) for all Former Licensee IP to be treated as Bayer Patent Rights and Bayer Know-How
hereunder (including being subject to the exclusive license grant contained in Section 2.1), wherein “Former Licensee IP” means all Technology and patent and other intellectual property rights created or owned or otherwise Controlled
by any Former Licensee or any of its Affiliates, in each case related to the manufacture, use, sale, offer for sale, importation, development or commercialization of any Licensed Compounds. Without limiting the generality of the foregoing, and to
Bayer’s knowledge, PPD does not retain any right, title or interest in or to any Former Licensee IP, and no Former Licensee has filed or obtained any patent rights concerning any of those activities. 
 (iii) To the knowledge of Bayer, no Former Licensee has any supply of Licensed Compounds. 
 (h) To the extent that Bayer has the benefit of any contractual rights from any Former Licensees concerning the development or
commercialization of any Licensed Compounds, Bayer shall 

  

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 LICENSE AGREEMENT 
  

 
use commercially reasonable efforts to exercise the same on behalf of Aegerion or any of its Affiliates or Sublicensees upon request (or if not so
commercially reasonable, shall transfer the right to exercise the same to Aegerion or any of its Affiliates or Sublicensees as Aegerion may designate and as may be permitted by the applicable terms). 
 (i) As of the Effective Date, except as set forth in Exhibit E-3, Bayer does not have any knowledge of any scientific or clinical
facts or circumstances that would materially and adversely affect the safety, efficacy or market performance of any Licensed Compounds (alone or as part of any Combination Product) that have not been communicated to Aegerion. 
 8.2 Aegerion Representations and Warranties. Aegerion covenants, represents and warrants to Bayer that as of the Effective Date: 
 (a) Aegerion is a corporation duly organized, validly existing and in good standing under the laws of state in which it is incorporated,
and it has full right and authority to enter into this Agreement and to accept the rights and licenses granted as herein described. 
 (b) This Agreement has been duly authorized by all requisite corporate action, and when executed and delivered will become a valid and binding contract of Aegerion enforceable against Aegerion in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 
 (c) The execution, delivery and performance of this Agreement does not conflict with any other agreement, contract, instrument or
understanding, oral or written, to which Aegerion is a party, or by which it is bound, nor will it violate any law applicable to Aegerion. 
 (d) All necessary consents, approvals and authorizations of all regulatory and governmental authorities and other persons or entities required to be obtained by Aegerion in connection with the execution and delivery
of this Agreement and the performance of its obligations hereunder have been obtained. 
 8.3 Disclaimer. EXCEPT AS EXPRESSLY SET
FORTH HEREIN, NEITHER BAYER NOR AEGERION MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 8.4 Limitation of Liability. NOTWITHSTANDING ANYTHING IN THIS AGREEMENT OR OTHERWISE, NEITHER PARTY SHALL BE LIABLE TO THE OTHER OR ANY THIRD
PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES; PROVIDED, HOWEVER, THAT THIS SECTION 8.4 SHALL NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER
SECTIONS 8.6(a) AND 8.6(b). 
 8.5 Performance by Affiliates. The Parties recognize that each Party may perform some or all of
its obligations under this Agreement through Affiliates and Third Party contractors provided, however, that each Party shall remain responsible and liable for the performance by its Affiliates and Third Party contractors and shall cause its
Affiliates and Third Party contractors to comply with the provisions of this Agreement in connection therewith. 
 8.6
Indemnification. 
 (a) Aegerion Indemnity. Aegerion hereby agrees to indemnify and hold Bayer and its
Affiliates, and their respective employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“Bayer Indemnitees”) harmless from and against all claims, liability, threatened claims,
damages, expenses (including reasonable attorneys’ fees), suits, proceedings, losses or judgments, whether for money or equitable relief, of any kind, including death, 

  

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personal injury, illness, product liability or property damage or the failure to comply with applicable law (but not infringement or misappropriation of
patents or other intellectual property rights) (collectively, “Losses”), arising from any Third Party claim due to the use, manufacture, sale, development or commercialization of any Licensed Compounds or Licensed Products by or for
Aegerion or any of its Affiliates, Sublicensees, agents and contractors, except to the extent that such Losses arise from (a) the negligence, recklessness or willful misconduct of any Bayer Indemnitees or (b) any breach of this Agreement
by Bayer. 
 (b) Bayer Indemnity. Bayer hereby agrees to indemnify and hold Aegerion, its Affiliates and Sublicensees,
and their respective employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“Aegerion Indemnitees”) harmless from and against all Losses arising from any Third Party claim due
to the use, manufacture, sale, development or commercialization of any Licensed Compounds or Licensed Products by or for Bayer or any of its Affiliates, licensees (other than Aegerion and its Affiliates and Sublicensees), agents and contractors,
except to the extent that such Losses arise from (a) the negligence, recklessness or willful misconduct of any Aegerion Indemnitees or (b) any breach of this Agreement by Aegerion. 
 (c) Indemnification Procedure. A claim to which indemnification applies under Section 8.6(a) or Section 8.6(b) shall be
referred to herein as a “Claim”. If any person or entity (each, an “Indemnitee”) intends to claim indemnification under this Section 8.6, the Indemnitee shall notify the other Party (the “Indemnitor”) in
writing promptly upon becoming aware of any claim that may be a Claim (it being understood and agreed, however, that the failure by an Indemnitee to give such notice shall not relieve the Indemnitor of its indemnification obligation under this
Agreement except and only to the extent that the Indemnitor is actually prejudiced as a result of such failure to give notice). The Indemnitor shall have the right to assume and control the defense of such Claim at its own expense with counsel
selected by the Indemnitor and reasonably acceptable to the Indemnitee; provided, however, that an Indemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the Indemnitee, if representation of such
Indemnitee by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party represented by such counsel in such proceedings. If the Indemnitor does not assume
the defense of such Claim as aforesaid, the Indemnitee may defend such Claim but shall have no obligation to do so. The Indemnitee shall not settle or compromise any Claim without the prior written consent of the Indemnitor, and the Indemnitor shall
not settle or compromise any Claim in any manner which would have an adverse effect on the Indemnitee’s interests, without the prior written consent of the Indemnitee, which consent, in each case, shall not be unreasonably withheld. The
Indemnitee shall reasonably cooperate with the Indemnitor at the Indemnitor’s expense and shall make available to the Indemnitor all pertinent information under the control of the Indemnitee, which information shall be subject to
Section 7.1. 
 8.7 Insurance. Aegerion shall procure and maintain insurance policies for the following coverages with respect to
personal injury, bodily injury and property damage arising out of Aegerion’s performance under this Agreement: (a) during the term of this Agreement, comprehensive general liability, including broad form and contractual liability, in a
minimum amount of $3,000,000 combined single limit per occurrence and in the aggregate; (b) prior to the commencement of clinical trials involving any Licensed Products, clinical trials coverage in a minimum amount of $5,000,000 combined single
limit per occurrence and in the aggregate; and (c) prior to the First Commercial Sale of the first Licensed Product, product liability coverage, in a minimum amount of $2,000,000 combined single limit per occurrence and in the aggregate, with
the coverage provided for in clauses (b) and (c) to remain in force during the term of this Agreement and for at least five (5) years thereafter. The policies of insurance required by this Section 8.7 shall be issued by an
insurance carrier with an A.M. Best rating of “A” or better. Aegerion shall provide Bayer with insurance certificates evidencing the required coverage within thirty (30) days after the Effective Date and the commencement of each
policy period and any renewal periods. 
  

 19 

 LICENSE AGREEMENT 
  

 Section 9. Term, Termination and Survival. 
 9.1 Term. This Agreement shall commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual
written consent, shall continue on a country-by-country and product-by-product basis until the end of the period during which royalties are due hereunder on Net Sales of such Licensed Product in such country. Upon the end of such period for such
Licensed Product in such country, the license grant contained in Section 2.1 shall become perpetual, irrevocable and fully paid up with respect to such Licensed Product in such country. 
 9.2 Termination for Material Default. Either Party shall have the right to terminate this Agreement upon delivery of written notice to the other
Party in the event of any default in the performance by such other Party of any of such other Party’s material obligations under this Agreement, provided that such default has not been cured within ninety (90) days, or, in the event such
default results in a failure to make payment when due hereunder, thirty (30) days, after written notice thereof is given by the non-defaulting Party to the defaulting Party specifying the nature of the alleged default, provided the Parties shall
take all reasonable steps to resolve the matter pursuant to the process set forth in Section 10.6(a) during the applicable cure period and before any such termination becomes effective. Termination of this Agreement by Bayer under this
Section 9.2 shall be on a country-by-country and product-by-product basis (and not for the Agreement as a whole) if the default giving rise to termination is reasonably specific to one or more countries or one or more products (e.g., a
royalty dispute for one product in one or more countries). 
 9.3 Termination for Convenience by Aegerion. Aegerion may terminate this
Agreement in full for any reason effective upon sixty (60) days prior written notice to Bayer. 
 9.4 Termination for Insolvency. To
the extent permitted by law, upon the filing or institution of bankruptcy, reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditors (a “Bankruptcy
Event”) by either Party, Bayer, in the case of a Bankruptcy Event by Aegerion, or Aegerion, in the case of a Bankruptcy Event by Bayer, may terminate this Agreement; provided, however, that, in the case of any involuntary bankruptcy proceeding,
such right to terminate shall only become effective if the subject Party consents to the involuntary bankruptcy or such proceeding is not dismissed within ninety (90) days after the filing thereof. Each Party shall retain and may fully exercise all
of its rights and elections under the U.S. Bankruptcy Code and foreign equivalents, including that upon commencement of a bankruptcy proceeding by or against such Party undergoing a bankruptcy proceeding (the “Affected Party”)
under the U.S. Bankruptcy Code or foreign equivalents, the non-Affected Party shall be entitled to complete duplicates of or complete access to, as such non-Affected Party deems appropriate, any Technology and patent and other intellectual property
rights and all embodiments hereof licensed or to be transferred to such non-Affected Party hereunder by the Affected Party. Such Technology, rights and embodiments shall be promptly delivered to the non-Affected Party (i) upon any such
commencement of a bankruptcy proceeding and upon written request thereof by the non-Affected Party, unless the Affected Party elects to continue to perform all of its obligations under this Agreement, or (ii) if not delivered under the
foregoing clause (i), upon the rejection of this Agreement by or on behalf of the Affected Party upon written request therefore by the non-Affected Party. This Section 9.4 is without prejudice to any rights the non-Affected Party may
have arising under the U.S. Bankruptcy Code, foreign equivalents or other law. 
  

 20 

 LICENSE AGREEMENT 
  

 9.5 Effect of Certain Terminations. Upon termination of this Agreement by Bayer pursuant to
Section 9.2 or 9.4 or by Aegerion pursuant to Section 9.3, or with respect to each applicable product and country as to which termination occurs pursuant to Section 9.2 (the rights and obligations of the Parties as to the remaining
products and countries in which termination under Section 9.2 has not occurred, being unaffected by such termination), all rights and licenses granted to Aegerion in Section 2 shall terminate with respect to each such terminated product and
country, with all rights of Aegerion under Bayer Patent Rights for each such terminated product and country reverting to Bayer, and Section 2.2(b) shall apply to all Sublicensees in each such terminated country for each such terminated product.
Further, upon any such termination and at Bayer’s reasonable request, on a country-by-country and product-by-product basis, Aegerion shall grant to Bayer a license to use, and shall provide to Bayer a copy of, all regulatory approvals, data,
filings and correspondence (including DMFs) then in Aegerion’s Control relating to such product and applicable to such country, but only for the continued development and commercialization of such product in such country, and provided that
(i) all such information shall be treated as Confidential Information of Aegerion hereunder, (ii) such license and use shall be subject to any rights of any Sublicensees that survive any such termination as contemplated by
Section 2.2(b) and this Section 9 (including, if such Sublicensee is an exclusive sublicensee for such product in such country, then there shall not be any such license nor any provision of such information by Aegerion but such Sublicensee
shall agree to be bound to Bayer in place of Aegerion for purposes of this sentence), and (iii) if such termination occurs after Aegerion or any of its Affiliates or Sublicensees has filed for an NDA or its foreign equivalent or has obtained
regulatory approval or has made a First Commercial Sale for such product in such country, then Bayer shall pay to Aegerion commercially reasonable royalties in an amount to be agreed to by the Parties on sales of such product in such country to
reflect the investment in and value contributed by Aegerion and its Affiliates and Sublicensees to the development and commercialization of such product. 
 9.6 Right to Sell-Off Inventory. Upon termination of this Agreement for any reason, should Aegerion or any of its Affiliates or Sublicensees have any inventory of any Licensed Product, each of them shall have
six (6) months thereafter in which to dispose of such inventory (subject to the payment to Bayer of any royalties due hereunder thereon). 
 9.7 Survival. In addition to the termination consequences set forth in Section 9.5, the following provisions shall survive expiration or termination of this Agreement for any reason, as well as any other provision which
by its terms or by the context thereof, is intended to survive such termination: Sections 2.2(b), 2.5, 5.5(d), 5.7, 6.3 (but only with respect to any action or proceeding initiated before such expiration or termination),
6.4, 8.3, 8.4, 8.5 and 8.6, and Section 1, Section 7, Section 9 and Section 10. Expiration or termination of this Agreement for any reason shall not relieve the Parties of any liability or
obligation which accrued hereunder prior to the effective date of such termination or expiration, nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity, subject to Section 10.6, with respect to
any breach of this Agreement nor prejudice either Party’s right to obtain performance of any obligation. 
 Section 10. General Provisions.

 10.1 Assignment. Except as expressly provided by Section 2.1, 2.2 or 8.5, neither Party may assign this Agreement, delegate
its obligations or otherwise transfer licenses or other rights created by this Agreement, without the prior written consent of the other Party, which consent shall not be unreasonably withheld; provided that each Party may assign this Agreement as a
whole without such consent to an Affiliate or in connection with the acquisition (whether by merger, consolidation, sale or otherwise) of such Party or of that part of such Party’s business to which this Agreement relates, provided that such
Party provides written notice to the other Party of such assignment and the assignee thereof agrees in writing to be bound as such Party hereunder. Any assignment or transfer in violation of this Section 10.1 shall be void. This Agreement shall
inure to the benefit of, and be binding upon, the legal representatives, successors and permitted assigns of the Parties. 
  

 21 

 LICENSE AGREEMENT 
  

 10.2 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor
be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement if, but only to the extent that, such failure or delay results from causes beyond the reasonable control of the
affected Party, potentially including fire, floods, embargoes, terrorism, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or
delays in acting by any governmental authority or any other Party; provided that the Party affected shall promptly notify the other of the force majeure condition and shall exert reasonable efforts to eliminate, cure or overcome any such causes and
to resume performance of its obligations as soon as possible. 
 10.3 Severability. If any one or more of the provisions contained in
this Agreement is held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby, unless the absence of the
invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties shall in such an instance use their reasonable best efforts to replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable
provision(s) which, insofar as practical, implement the purposes of this Agreement. 
 10.4 Amendment; Waiver. This Agreement may not
be modified, amended or rescinded, in whole or part, except by a written instrument signed by the Parties; provided that any unilateral undertaking or waiver made by one Party in favor of the other shall be enforceable if undertaken in a writing
signed by the Party to be charged with the undertaking or waiver. No delay or omission by either Party hereto in exercising any right or power occurring upon any noncompliance or default by the other Party with respect to any of the terms of this
Agreement shall impair any such right or power or be construed to be a waiver thereof. A waiver by either of the Parties of any of the covenants, conditions or agreements to be performed by the other shall not be construed to be a waiver of any
succeeding breach thereof or of any other covenant, condition or agreement herein contained. 
  

 22 

 LICENSE AGREEMENT 
  

 10.5 Notices. Except as otherwise provided herein, all notices under this Agreement shall be
sent by certified mail or by overnight courier service, postage prepaid, to the following addresses of the respective Parties: 
  

					
	If to Aegerion, to:	 	Aegerion Pharmaceuticals, Inc.
		 	c/o Scheer & Company, Inc.
		 	250 West Main Street
		 	Branford, Connecticut 06405
		 	Attention:	  	President
		
	With a required copy to:	 	Goodwin Procter LLP
		 	53 State Street
		 	Boston, MA 02109
		 	Attention:	  	Kingsley L. Taft, Esq.
		
	If to Bayer, to:	 	Bayer HealthCare AG
		 	Aprather, WEG18A
		 	42096 Wuppertal, Germany
		 	Attention:	  	Dr. Gunnar Riemann, Member of the Board of Management and President of the Pharmaceuticals Division
		
	With a required copy to:	 	Bayer HealthCare
		 	400 Morgan Lane
		 	West haven, CT 06516
		 	Attention:	  	Paul Berry, Senior Vice President, General Counsel and Secretary

 or to such address as each Party may hereafter designate by notice to the other Party. A notice shall be deemed to
have been given on the date it is received by all required recipients for the noticed Party. 
 10.6 Dispute Resolution. Disputes
arising under or in connection with this Agreement shall be resolved pursuant to this Section 10.6; provided, however, that in the event a dispute cannot be resolved without an adjudication of the rights or obligations of a Third Party (other
than a Bayer Indemnitee or Aegerion Indemnitee identified in Sections 8.6(a) or 8.6(b), as applicable), the dispute procedures set forth in this Section 10.6 shall be inapplicable as to such dispute. 
 (a) In the event of a dispute between the Parties, the Parties shall first attempt in good faith to resolve such dispute by negotiation
and consultation between themselves. In the event that such dispute is not resolved on an informal basis within forty-five (45) days, any Party may, by written notice to the other, have such dispute referred to each of the Parties’
respective CEOs or his or her designee (who shall be a senior executive), who shall attempt in good faith to resolve such dispute by negotiation and consultation for a thirty (30) day period following receipt of such written notice. 

(b) In the event the Parties’ CEOs (or designees) are not able to resolve such dispute, either Party may at any time after such
30-day period submit such dispute to be finally settled by arbitration administered in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“AAA”) in effect at the time of submission. The arbitration
shall be heard and determined by three (3) arbitrators. Aegerion and Bayer shall each appoint one arbitrator and the third arbitrator shall be selected by the two Party-appointed arbitrators, or, failing agreement within sixty e(60) days
following the date of receipt by the respondent of the claim, by the AAA. Such arbitration shall take place in New York, NY. The arbitration award so given shall be a final and binding determination of the dispute, shall be fully enforceable in any
court of competent jurisdiction, and shall not include any damages expressly prohibited by Section 8.4. 
  

 23 

 LICENSE AGREEMENT 
  

 (c) Costs of arbitration are to be divided by the Parties in the following manner:
Aegerion shall pay for the arbitrator it chooses, Bayer shall pay for the arbitrator it chooses, and the costs of the third arbitrator shall be divided equally between the Parties. Except in a proceeding to enforce the results of the arbitration or
as otherwise required by law, neither Party nor any arbitrator may disclose the existence, content or results of any arbitration hereunder without the prior written consent of both Parties. 
 10.7 Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the state of New Jersey, without regard to
its conflicts of law provisions. 
 10.8 Further Assurances. Each Party agrees to do and perform all such further acts and things and
shall execute and deliver such other agreements, certificates, instruments and documents necessary or that the other Party may deem advisable in order to carry out the intent and accomplish the purposes of this Agreement and to evidence, perfect or
otherwise confirm its rights hereunder. 
 10.9 Relationship of the Parties. Each Party is an independent contractor under this
Agreement. Nothing contained herein is intended or is to be construed so as to constitute Bayer and Aegerion as partners, agents or joint venturers. Neither Party shall have any express or implied right or authority to assume or create any
obligations on behalf of or in the name of the other Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. There are no express or implied third party beneficiaries hereunder (except for Aegerion
Indemnitees other than Aegerion and Bayer Indemnitees other than Bayer for purposes of Section 8.6). 
 10.10 Entire Agreement.
This Agreement (along with the Exhibits) contains the entire understanding of the Parties with respect to the subject matter hereof and supersedes and replaces any and all previous arrangements and understandings, including the Confidentiality
Agreement, whether oral or written, between the Parties with respect to the subject matter hereof. 
 10.11 Headings. The captions to
the several Sections hereof are not a part of this Agreement, but are merely guides or labels to assist in locating and reading the several Sections hereof. 
 10.12 Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction
that any ambiguity in this Agreement shall be construed against the drafting party shall not apply. 
 10.13 Interpretation. Whenever
any provision of this Agreement uses the term “including” (or “includes”), such term shall be deemed to mean “including without limitation” (or “includes without limitations”). “Herein,”
“hereby,” “hereunder,” “hereof” and other equivalent words refer to this Agreement as an entirety and not solely to the particular portion of this Agreement in which any such word is used. All definitions set forth
herein shall be deemed applicable whether the words defined are used herein in the singular or the plural. Unless otherwise provided, all references to Sections and Exhibits in this Agreement are to Sections and Exhibits of this Agreement.
References to any Sections include Sections and subsections that are part of the related Section (e.g., a section numbered “Section 2.2” would be part of “Section 2”, and references to
“Section 2.2” would also refer to material contained in the subsection described as “Section 2.2(a)”) 
 10.14 Counterparts; Facsimiles. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Facsimile execution and
delivery of this Agreement by either Party shall constitute a legal, valid and binding execution and delivery of this Agreement by such Party. 
 [Remainder of this Page Intentionally Left Blank] 
  

 24 

 LICENSE AGREEMENT 
  

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

			
	BAYER HEALTHCARE AG
		
	By:	 	/s/ Gunnar Riemann
		 	(Signature)
	Name:	 	Dr. Gunnar Riemann
	Title:	 	Member of the Board of Management and President of the Pharmaceuticals Division
		
	Date:	 	June 5, 2006

  

			
	BAYER HEALTHCARE AG
		
	By:	 	/s/ Alexander Bey
		 	(Signature)
	Name:	 	Alexander Bey
	Title:	 	CAO, Head of Law and Patents
		
	Date:	 	May 31, 2006

  

			
	AEGERION PHARMACEUTICALS, INC.
		
	By:	 	/s/ Gerald Wisler
		 	(Signature)
	Name:	 	Gerald Wisler
	Title:	 	President & CEO
		
	Date:	 	May 24, 2006

 LICENSE AGREEMENT 
  

 EXHIBIT A 
 BAYER KNOW-HOW TO BE TRANSFERRED TO AEGERION 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
 EXHIBIT B-1 
 BAYER PATENT RIGHTS 
 BAYER PATENT RIGHTS UNDER SECTION 1.3(a) 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
  

 LICENSE AGREEMENT 
  

 EXHIBIT B-2 
 BAYER PATENT RIGHTS 
 BAYER IMPROVEMENT PATENTS UNDER SECTION 1.3(b)
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 

 LICENSE AGREEMENT 
  

 EXHIBIT C 
 SUMMARY OF BATCHES IN BAYER’S INVENTORY OF LICENSED COMPOUND 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
  

 EXHIBIT D 
 PROPOSED IMPLITAPIDE CLINICAL DEVELOPMENT PROGRAM 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
  

 EXHIBIT E-1 
 PATENTS UNDER SECTION 8.1(f) 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 

 LICENSE AGREEMENT 
  

 EXHIBIT E-2 
 BAYER’S EXCEPTIONS UNDER SECTION 8.1(g) 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/

 LICENSE AGREEMENT 
  

 EXHIBIT E-3 
 BAYER’S EXCEPTIONS UNDER SECTION 8.1(i) 
 Bayer has communicated to Aegerion that Bayer’s
development of the Licensed Compounds was discontinued by Bayer on the basis of a negative risk-benefit assessment of the Licensed Compounds conducted by Bayer under their clinical development program. Aegerion acknowledges Bayer made the judgment
not to continue development of the Compounds due to what it perceived under its clinical development program as unacceptable adverse events for daily dosages of 80 mg and 160 mg per day form compared with the observed cholesterol lowering efficacy.

 Amendment 
 to the
License Agreement concluded between Bayer HealthCare AG (“Bayer”) and Aegerion Pharmaceuticals, Inc. (“Aegerion”) on May 31, 2006 (the “Agreement”) 
  

	 	1.	The following patent rights are herewith added to Exhibit B-1 of the Agreement and shall be regarded as Bayer Patent Rights under Section 1.3(a); 

 [CONFIDENTIAL TREATMENT REQUESTED] /*/ 

	 	2.	All other terms and conditions of the Agreement remain unchanged. 

 Date:
February 15, 2007 
  

					
	 Bayer HealthCare AG
	  		 	
			
	 /s/ Dr. Dieter Linkenheil
	  		 	 /s/ Dr. Markus Albers

	Dr. Dieter Linkenheil	  		 	Dr. Markus Albers
			
	Date: February 15, 2007	  		 	
			
	 /s/ William H. Lewis
	  		 	
	 William H. Lewis2007 Employee Stock Purchase Plan

 Exhibit 10.20 
 

 
 2007 EMPLOYEE STOCK PURCHASE PLAN 
 The purpose of the 2007 Employee Stock Purchase Plan (“the Plan”) is to provide eligible employees of Aegerion Pharmaceuticals, Inc. (the
“Company”) and each Designated Subsidiary (as defined in Section 11) with opportunities to purchase shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”). 600,000 shares of Common Stock
in the aggregate have been approved and reserved for this purpose. The Plan is intended to constitute an “employee stock purchase plan” within the meaning of Section 423(b) of the Internal Revenue Code of 1986, as amended (the
“Code”), and shall be interpreted in accordance with that intent. 
 1. Administration. The Plan will be administered by the
person or persons (the “Administrator”) appointed by the Company’s Board of Directors (the “Board”) for such purpose. The Administrator has authority at any time to: (i) adopt, alter and repeal such rules, guidelines
and practices for the administration of the Plan and for its own acts and proceedings as it shall deem advisable; (ii) interpret the terms and provisions of the Plan; (iii) make all determinations it deems advisable for the administration
of the Plan; (iv) decide all disputes arising in connection with the Plan; and (v) otherwise supervise the administration of the Plan. All interpretations and decisions of the Administrator shall be binding on all persons, including the
Company and the Participants. No member of the Board or individual exercising administrative authority with respect to the Plan shall be liable for any action or determination made in good faith with respect to the Plan or any option granted
hereunder. 
 2. Offerings. The Company will make one or more offerings to eligible employees to purchase Common Stock under the Plan
(“Offerings”). Unless otherwise determined by the 

 
Administrator, the initial Offering will begin on January 1, 2008 and will end on the following June 30, 2008 (the “Initial Offering”).
Thereafter, unless otherwise determined by the Administrator, an Offering will begin on the first business day occurring on or after each January 1 and July 1 and will end on the last business day occurring on or before the following
June 30 and December 31, respectively. The Administrator may, in its discretion, designate a different period for any Offering, provided that no Offering shall exceed six months in duration or overlap any other Offering. 
 3. Eligibility. All individuals classified as employees on the payroll records of the Company and each Designated Subsidiary are eligible to
participate in any one or more of the Offerings under the Plan, provided that as of the first day of the applicable Offering (the “Offering Date”) they are customarily employed by the Company or a Designated Subsidiary for more than 20
hours a week and have completed at least six months of employment. Notwithstanding any other provision herein, individuals who are not contemporaneously classified as employees of the Company or a Designated Subsidiary for purposes of the
Company’s or applicable Designated Subsidiary’s payroll system are not considered to be eligible employees of the Company or any Designated Subsidiary and shall not be eligible to participate in the Plan. In the event any such individuals
are reclassified as employees of the Company or a Designated Subsidiary for any purpose, including, without limitation, common law or statutory employees, by any action of any third party, including, without limitation, any government agency, or as
a result of any private lawsuit, action or administrative proceeding, such individuals shall, notwithstanding such reclassification, remain ineligible for participation. Notwithstanding the foregoing, the exclusive means for individuals who are not
contemporaneously classified as employees of the Company or a Designated Subsidiary on the 

  

 2 

 
Company’s or Designated Subsidiary’s payroll system to become eligible to participate in this Plan is through an amendment to this Plan, duly
executed by the Company, which specifically renders such individuals eligible to participate herein. 
 4. Participation. 

(a) An eligible employee who is not a Participant on any Offering Date may participate in such Offering by submitting an enrollment
form to his or her appropriate payroll location at least 15 business days before the Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). 
 (b) The enrollment form will (a) state a whole percentage to be deducted from an eligible employee’s Compensation (as defined in
Section 11) per pay period, (b) authorize the purchase of Common Stock in each Offering in accordance with the terms of the Plan and (c) specify the exact name or names in which shares of Common Stock purchased for such individual are
to be issued pursuant to Section 10. An employee who does not enroll in accordance with these procedures will be deemed to have waived the right to participate. Unless a Participant files a new enrollment form or withdraws from the Plan, such
Participant’s deductions and purchases will continue at the same percentage of Compensation for future Offerings, provided he or she remains eligible. 
 (c) Notwithstanding the foregoing, participation in the Plan will neither be permitted nor be denied contrary to the requirements of the Code. 
 5. Employee Contributions. Each eligible employee may authorize payroll deductions at a minimum of 1 percent up to a maximum of
10 percent of such employee’s Compensation for each pay period. The Company will maintain book accounts showing the amount of payroll deductions made by each Participant for each Offering. No interest will accrue or be paid on payroll
deductions. 
  

 3 

 6. Deduction Changes. Except as may be determined by the Administrator in advance of an Offering,
a Participant may not increase or decrease his or her payroll deduction during any Offering, but may increase or decrease his or her payroll deduction with respect to the next Offering (subject to the limitations of Section 5) by filing a new
enrollment form at least 15 business days before the next Offering Date (or by such other deadline as shall be established by the Administrator for the Offering). The Administrator may, in advance of any Offering, establish rules permitting a
Participant to increase, decrease or terminate his or her payroll deduction during an Offering. 
 7. Withdrawal. A Participant may
withdraw from participation in the Plan by delivering a written notice of withdrawal to his or her appropriate payroll location. The Participant’s withdrawal will be effective as of the next business day. Following a Participant’s
withdrawal, the Company will promptly refund such individual’s entire account balance under the Plan to him or her (after payment for any Common Stock purchased before the effective date of withdrawal). Partial withdrawals are not permitted.
Such an employee may not begin participation again during the remainder of the Offering, but may enroll in a subsequent Offering in accordance with Section 4. 
 8. Grant of Options. On each Offering Date, the Company will grant to each eligible employee who is then a Participant in the Plan an option (“Option”) to purchase on the last day of such Offering
(the “Exercise Date”), at the Option Price hereinafter provided for, (a) a number of shares of Common Stock determined by dividing such Participant’s accumulated payroll deductions on such Exercise Date by the lower of
(i) 85 percent of the Fair Market Value of the 

  

 4 

 
Common Stock on the Offering Date, or (ii) 85 percent of the Fair Market Value of the Common Stock on the Exercise Date, or (b) such other lesser
maximum number of shares as shall have been established by the Administrator in advance of the Offering; provided, however, that such Option shall be subject to the limitations set forth below. Each Participant’s Option shall be exercisable
only to the extent of such Participant’s accumulated payroll deductions on the Exercise Date. The purchase price for each share purchased under each Option (the “Option Price”) will be 85 percent of the Fair Market Value of the Common
Stock on the Offering Date or the Exercise Date, whichever is less. 
 Notwithstanding the foregoing, no Participant may be granted an option
hereunder if such Participant, immediately after the option was granted, would be treated as owning stock possessing 5 percent or more of the total combined voting power or value of all classes of stock of the Company or any Parent or
Subsidiary (as defined in Section 11). For purposes of the preceding sentence, the attribution rules of Section 424(d) of the Code shall apply in determining the stock ownership of a Participant, and all stock which the Participant has a
contractual right to purchase shall be treated as stock owned by the Participant. In addition, no Participant may be granted an Option which permits his or her rights to purchase stock under the Plan, and any other employee stock purchase plan of
the Company and its Parents and Subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of such stock (determined on the option grant date or dates) for each calendar year in which the Option is outstanding at any time. The
purpose of the limitation in the preceding sentence is to comply with Section 423(b)(8) of the Code and shall be applied taking Options into account in the order in which they were granted. 
 9. Exercise of Option and Purchase of Shares. Each employee who continues to be a Participant in the Plan on the Exercise Date shall be deemed to
have exercised his or her Option 

  

 5 

 
on such date and shall acquire from the Company such number of whole shares of Common Stock reserved for the purpose of the Plan as his or her accumulated
payroll deductions on such date will purchase at the Option Price, subject to any other limitations contained in the Plan. Any amount remaining in a Participant’s account at the end of an Offering solely by reason of the inability to purchase a
fractional share will be carried forward to the next Offering; any other balance remaining in a Participant’s account at the end of an Offering will be refunded to the Participant promptly. 
 10. Issuance of Certificates. Certificates representing shares of Common Stock purchased under the Plan may be issued only in the name of the
employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or in the name of a broker authorized by the employee to be his, her or their, nominee for such purpose. 
 11. Definitions. 
 The term
“Compensation” means the amount of base pay, prior to salary reduction pursuant to Sections 125, 132(f) or 401(k) of the Code, but excluding overtime, commissions, incentive or bonus awards, allowances and reimbursements for expenses
such as relocation allowances or travel expenses, income or gains on the exercise of Company stock options, and similar items. 
 The term
“Designated Subsidiary” means any present or future Subsidiary (as defined below) that has been designated by the Board to participate in the Plan. The Board may so designate any Subsidiary, or revoke any such designation, at any time and
from time to time, either before or after the Plan is approved by the stockholders. 
 The term “Fair Market Value of the Common
Stock” on any given date means the fair market value of the Common Stock determined in good faith by the Administrator; provided, 

  

 6 

 
however, that if the Common Stock is admitted to quotation on the National Association of Securities Dealers Automated Quotation System
(“NASDAQ”), NASDAQ Global Market or another national securities exchange, the determination shall be made by reference to market quotations. If there are no market quotations for such date, the determination shall be made by reference to
the last date preceding such date for which there are market quotations. 
 The term “Parent” means a “parent
corporation” with respect to the Company, as defined in Section 424(e) of the Code. 
 The term “Participant” means an
individual who is eligible as determined in Section 3 and who has complied with the provisions of Section 4. 
 The term
“Subsidiary” means a “subsidiary corporation” with respect to the Company, as defined in Section 424(f) of the Code. 
 12. Rights on Termination of Employment. If a Participant’s employment terminates for any reason before the Exercise Date for any Offering, no payroll deduction will be taken from any pay due and owing to the Participant and the
balance in the Participant’s account will be paid to such Participant or, in the case of such Participant’s death, to his or her designated beneficiary as if such Participant had withdrawn from the Plan under Section 7. An employee
will be deemed to have terminated employment, for this purpose, if the corporation that employs him or her, having been a Designated Subsidiary, ceases to be a Subsidiary, or if the employee is transferred to any corporation other than the Company
or a Designated Subsidiary. An employee will not be deemed to have terminated employment for this purpose, if the employee is on an approved leave of absence for military service or sickness or for any other purpose approved by the Company, if the
employee’s right to reemployment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted or if the Administrator otherwise provides in writing. 
  

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 13. Special Rules. Notwithstanding anything herein to the contrary, the Administrator may adopt
special rules applicable to the employees of a particular Designated Subsidiary, whenever the Administrator determines that such rules are necessary or appropriate for the implementation of the Plan in a jurisdiction where such Designated Subsidiary
has employees; provided that such rules are consistent with the requirements of Section 423(b) of the Code. Such special rules may include (by way of example, but not by way of limitation) the establishment of a method for employees of a given
Designated Subsidiary to fund the purchase of shares other than by payroll deduction, if the payroll deduction method is prohibited by local law or is otherwise impracticable. Any special rules established pursuant to this Section 13 shall, to
the extent possible, result in the employees subject to such rules having substantially the same rights as other Participants in the Plan. 
 14. Optionees Not Stockholders. Neither the granting of an Option to a Participant nor the deductions from his or her pay shall constitute such Participant a holder of the shares of Common Stock covered by an Option under the Plan
until such shares have been purchased by and issued to him or her. 
 15. Rights Not Transferable. Rights under the Plan are not
transferable by a Participant other than by will or the laws of descent and distribution, and are exercisable during the Participant’s lifetime only by the Participant. 
 16. Application of Funds. All funds received or held by the Company under the Plan may be combined with other corporate funds and may be used for
any corporate purpose. 
  

 8 

 17. Adjustment in Case of Changes Affecting Common Stock. In the event of a subdivision of
outstanding shares of Common Stock, the payment of a dividend in Common Stock or any other change affecting the Common Stock, the number of shares approved for the Plan and the share limitation set forth in Section 8 shall be equitably or
proportionately adjusted to give proper effect to such event. 
 18. Amendment of the Plan. The Board may at any time and from time to
time amend the Plan in any respect, except that without the approval within 12 months of such Board action by the stockholders, no amendment shall be made increasing the number of shares approved for the Plan or making any other change that would
require stockholder approval in order for the Plan, as amended, to qualify as an “employee stock purchase plan” under Section 423(b) of the Code. 
 19. Insufficient Shares. If the total number of shares of Common Stock that would otherwise be purchased on any Exercise Date plus the number of shares purchased under previous Offerings under the Plan exceeds
the maximum number of shares issuable under the Plan, the shares then available shall be apportioned among Participants in proportion to the amount of payroll deductions accumulated on behalf of each Participant that would otherwise be used to
purchase Common Stock on such Exercise Date. 
 20. Termination of the Plan. The Plan may be terminated at any time by the Board. Upon
termination of the Plan, all amounts in the accounts of Participants shall be promptly refunded. 
 21. Governmental Regulations. The
Company’s obligation to sell and deliver Common Stock under the Plan is subject to obtaining all governmental approvals required in connection with the authorization, issuance, or sale of such stock. 
  

 9 

 22. Governing Law. This Plan and all Options and actions taken thereunder shall be governed by,
and construed in accordance with, the laws of the State of Delaware, applied without regard to conflict of law principles. 
 23. Issuance
of Shares. Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source. 
 24. Tax Withholding. Participation in the Plan is subject to any minimum required tax withholding on income of the Participant in connection with
the Plan. Each Participant agrees, by entering the Plan, that the Company and its Subsidiaries shall have the right to deduct any such taxes from any payment of any kind otherwise due to the Participant, including shares issuable under the Plan.

 25. Notification Upon Sale of Shares. Each Participant agrees, by entering the Plan, to give the Company prompt notice of any
disposition of shares purchased under the Plan where such disposition occurs within two years after the date of grant of the Option pursuant to which such shares were purchased. 
 26. Effective Date and Approval of Shareholders. The Plan shall take effect on the later of the date it is adopted by the Board and the date it is
approved by the holders of a majority of the votes cast at a meeting of stockholders at which a quorum is present or by written consent of the stockholders. 
  

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