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Exhibit 10.30

Execution Version

CERTAIN INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF PUBLICLY DISCLOSED. OMISSIONS ARE DESIGNATED AS [***].
LICENSE AND COLLABORATION AGREEMENT
This LICENSE AND COLLABORATION AGREEMENT (the “Agreement”) is entered into as of December 15, 2021 (the “Effective Date”) by and between Horizon Therapeutics Ireland DAC, a company formed under the laws of Ireland (“Horizon”), and Alpine Immune Sciences, Inc., a Delaware corporation (“Alpine”). Alpine and Horizon are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.
RECITALS
Whereas, Alpine has (a) a preclinical biologic therapeutic program comprising a proprietary lead [***] compound and other [***] compounds that include [***] and (b) proprietary scientific technology and expertise to generate libraries of compounds and variants and fusion proteins, including [***] compounds, designed to have specified characteristics and biological functions; 
Whereas, Horizon possesses resources and expertise in the development and commercialization of pharmaceutical products and is interested in further advancing the [***] biologic therapeutic program and engaging Alpine to conduct a research collaboration for discovery of compounds and variants directed to biologic targets selected by Horizon; and
Whereas, Alpine and Horizon wish to engage in a multi-program research collaboration, and Alpine wishes to grant, and Horizon wishes to obtain an exclusive license under certain intellectual property rights of Alpine to research, develop, manufacture, commercialize and otherwise exploit Licensed Compounds and Licensed Products in the Field (as such terms are defined herein) in accordance with and on the terms and conditions set forth below.
Now, Therefore, in consideration of the foregoing premises and the mutual covenants and conditions contained in this Agreement, the Parties agree as follows:
ARTICLE 1
DEFINITIONS
1.1    “AAA Rules” has the meaning set forth in Section 12.1(d).
1.2    “Acquiror” has the meaning set forth in Section 12.6.
1.3    “Affiliate” means, with respect to a particular Person, any other Person that controls, is controlled by or is under common control with such Person, for as long as such control exists. For the purposes of this definition, the word “control” (including, with correlative meaning, the terms “controlled by” or “under common control with”) shall mean the actual power, either directly or indirectly through one or more intermediaries, to direct or cause the direction of the management and policies of such entity, whether by the ownership of fifty percent (50%) or more of the voting stock of such entity, or by contract or otherwise.
1.4    “Alpine Controlled Patents” has the meaning set forth in Section 7.2(a)(iv).

1.5    “Alpine Indemnitees” has the meaning set forth in Section 9.2.
1.6    “Alpine Libraries” means Alpine’s libraries of proteins and molecules that: (a) [***] and (b) [***], but in any event excluding all Alpine Reserved Sequences.
1.7    “Alpine Reserved Sequence” means those proteins and molecules identified in Exhibit A, as may be updated by Alpine during the Query Period in accordance with Section 2.3(a).
1.8    “Alpine Third Party Agreement” has the meaning set forth in Section 2.7(b).
1.9    “Back-Up Compounds” means the [***] identified as back-ups to the Lead Compound on Exhibit B, as may be modified pursuant to Section 2.3.
1.10    “Bankruptcy Code” means Title 11, U.S. Code Sections 101 et. Seq.
1.11    “Binding” means as to a Binding Partner, [***]; and “Bind” has its cognate meaning.
1.12    “Binding Partner” means any physiological molecular binding partner of a Target [***].  
1.13    “Biosimilar” means, as determined on a country-by-country basis, any product with respect to a Licensed Product (a) which (i) has been licensed as a biosimilar or interchangeable product by FDA pursuant to Article 351(k) of the Public Health Service Act (42 U.S.C. 262(k)), as may be amended, or any subsequent or superseding law, statute or regulation, (ii) has been licensed as a similar biological medicinal product by EMA pursuant to Directive 2001/83/EC, as may be amended, or any subsequent or superseding law, statute or regulation, or (iii) has otherwise achieved Regulatory Approval from another applicable Regulatory Authority on a basis analogous to clause (a)(i) or (ii), in each case (clause (i) and (ii)); or (b) obtained marketing approval in such country in the Territory by means of an abbreviated procedure that relies (i) in whole or in part on the safety and efficacy data contained in the Regulatory Approval Application for such Licensed Product submitted by Horizon or its Affiliate or Sublicensee and approved in such country, or (ii) on establishing biosimilarity to such Licensed Product in such country, and in each case (clause (a) and (b)) which product is marketed for sale by a Third Party (not licensed, supplied or otherwise authorized by Horizon or its Affiliates or Sublicensees) in a country in the Territory.
1.14    “Business Day” means any weekday that is not a legal holiday in New York, New York, U.S. or Dublin, Ireland, and is not a day on which banking institutions are required by Law to be closed.
1.15    “Calendar Quarter” means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31; provided, however, that (a) the first Calendar Quarter of any particular period shall extend from the commencement of such period to the end of the first complete Calendar Quarter thereafter; and (b) the last Calendar Quarter shall end upon the expiration or termination of this Agreement.
1.16    “Calendar Year” means (a) for the first Calendar Year of the Term, the period beginning on the Effective Date and ending on December 31, 2021, (b) for each Calendar Year of the Term thereafter, each successive period beginning on January 1 and ending twelve (12) consecutive calendar months later on December 31, and (c) for the last Calendar Year of the 
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Term, the period beginning on January 1 of the Calendar Year in which the Agreement expires or terminates and ending on the effective date of expiration or termination of this Agreement.
1.17    [***].
1.18    [***].
1.19    “Change of Control” means the occurrence of any of the following: (a) a Party enters into a merger, consolidation, business combination, recapitalization, share exchange, stock sale or sale or transfer of all or substantially all of its assets to which this Agreement relates, or other similar transaction or series of transactions with a Third Party; or (b) any transaction or series of related transactions in which any Third Party or group of Third Parties acquires beneficial ownership of securities of a Party representing more than fifty percent (50%) of the combined voting power of the then outstanding securities of such Party. Notwithstanding the foregoing clauses (a) or (b), a stock sale to underwriters of a public offering of a Party’s capital stock or other Third Parties for the purpose of financing or a transaction solely to change the domicile of a Party shall not constitute a Change of Control.
1.20    “Claims” has the meaning set forth in Section 9.1.
1.21    “Clinical Trial” means any human clinical trial of a product as defined in 21 C.F.R. § 312.21, or an equivalent human clinical trial prescribed by the Regulatory Authorities in a foreign country.
1.22    “Code” means the Internal Revenue Code of 1986, as amended.
1.23    “Combination Product” means a Licensed Product that contains a Licensed Compound as an active ingredient and includes at least one (1) active pharmaceutical ingredient other than a Licensed Compound (whether co-formulated or co-packaged) and is sold either as a fixed dose or as separate doses in a single package.
1.24    “Commercialization” means all activities undertaken before and after obtaining Regulatory Approval relating specifically to the pre-launch, launch, promotion, detailing, medical education and medical liaison activities, marketing, pricing, reimbursement, sale, import, export and distribution of Licensed Products in the Field in the Territory, including strategic marketing, sales force detailing, advertising, all customer support, Licensed Product distribution and invoicing and sales activities, including any clinical study conducted after Regulatory Approval of a Licensed Product. “Commercialize” has a correlative meaning.
1.25    “Commercially Reasonable Efforts” means efforts [***]. Commercially Reasonable Efforts shall be determined [***].
1.26    “Confidential Information” of a Party means any and all Information that is disclosed by or on behalf a Party to the other Party or its Affiliates pursuant to this Agreement, whether in oral, written, graphic, or electronic form. All Information disclosed by or on behalf of a Party or its Affiliate pursuant to the Confidentiality Agreement shall be deemed to be such Party’s Confidential Information, with the mutual understanding and agreement that any use or disclosure thereof that is authorized under Article 10 shall not be restricted by or be deemed a violation of the Confidentiality Agreement. Notwithstanding anything contained herein to the contrary, (a) all Horizon Sole Program IP and Research Program IP shall be deemed to be the Confidential Information of Horizon, where Horizon shall be deemed to be the disclosing Party and Alpine shall be deemed to be the receiving Party with respect thereto; (b) all Alpine Sole 
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Program IP shall be deemed to be the Confidential Information of Alpine, where Alpine shall be deemed to be the disclosing Party and Horizon shall be deemed to be the receiving Party with respect thereto; and (c) all Joint Program IP, and the terms of this Agreement, shall be deemed to be the Confidential Information of both Parties, and both Parties shall be deemed to be the receiving Party with respect thereto.
1.27    “Confidentiality Agreement” means the Mutual Confidentiality Agreement between Alpine and Viela Bio, Inc. (now an Affiliate of Horizon), dated as of November 14, 2019, as amended.
1.28    “Conflict” means, with respect to any Target identified as a Proposed Target, that as of the date such Target is proposed by Horizon, such Target is the subject of: [***].
1.29    “Control” means with respect to any Information or intellectual property right, that an entity (a) owns or (b) has the right to grant access, a license, or a sublicense (as applicable, other than by virtue of the rights granted in this Agreement) to such Information or intellectual property right on the terms and conditions set forth in this Agreement without violating the terms of any then-existing agreement with any Third Party. “Controlled” has a correlative meaning. Notwithstanding the foregoing, the following shall not be deemed to be Controlled by Alpine or its Affiliates: (i) any Information or intellectual property owned or controlled by any Acquiror immediately prior to the effective date of the Change of Control, and (ii) any Information or intellectual property developed or acquired by or on behalf of any Acquiror after a Change of Control, without access to or use of the Alpine Libraries, Licensed Technology or Confidential Information of Horizon or use of any employees or subcontractors who have or have had access to any of the foregoing; however, for clarity, any Information or Patents used or generated by the Acquiror or its Affiliates in performing any activity pursuant to this Agreement shall be considered to be Controlled by Alpine or its Affiliates and included in the Licensed Technology subject to the license granted to Horizon under this Agreement.
1.30    “COVID Event” has the meaning set forth in Section 12.3.
1.31    [***].
1.32    [***].
1.33    “Cure Period” has the meaning set forth in Section 11.3.
1.34    “Deliverables” means the types and quantities of molecules, controls, plasmids, and proteins to be provided for the Existing Program described in Exhibit C, as may be amended by written agreement of the Parties, or otherwise agreed in any other work plan for the Existing Program agreed in writing by the Parties pursuant to this Agreement.
1.35    “Deliverables Budget” means the budget setting forth the total costs and expenses for Alpine to perform the activities contemplated by the applicable Deliverables Plan and generate and deliver the Deliverables. The initial Deliverables Budget is attached hereto as Exhibit D, as may be amended by written agreement of the Parties.
1.36    “Deliverables Plan” means each work plan for the Existing Program agreed to by the Parties in writing setting forth certain activities to be conducted by Alpine, Queries, and Deliverables. The initial Deliverables Plan is attached hereto as Exhibit C, as may be amended by written agreement of the Parties.
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1.37    “Designated European Country” means [***].
1.38    “Development” means all activities that relate to obtaining, maintaining or expanding Regulatory Approval for a Licensed Compound or Licensed Product, including research, preclinical testing, toxicology, formulation, Clinical Trials, preparation, submission, review, and development of data or information for the purpose of submission to a Governmental Authority to obtain, maintain or expand Regulatory Approval for a Licensed Compound or Licensed Product, and any post-marketing surveillance study of a Licensed Compound or Licensed Product, whether or not required as a condition to, or for the maintenance of any Regulatory Approval for a Licensed Compound or Licensed Product. “Develop” and “Developing” have correlative meanings.
1.39    “Dollar” means a U.S. dollar, and “$” shall be interpreted accordingly.
1.40    [***].
1.41    “EMA” means the European Medicines Agency or any successor entity.
1.42    “Excluded Target” means, individually and collectively, any Target for which there is a Conflict. 
1.43    “Excluded Target List” means the list provided from time to time by Alpine to the Gatekeeper listing Targets for which there is a Conflict.
1.44    “Existing Program” means Alpine’s preclinical biological therapeutic program comprising [***], including the Lead Compound and any Back-Up Compound, and the Alpine Libraries.
1.45    “Existing Program IP” has the meaning set forth in Section 7.1(b)(i).
1.46    “FD&C Act” means the U.S. Federal Food, Drug and Cosmetic Act, as amended, and applicable regulations promulgated thereunder by the FDA.
1.47    “FDA” means the U.S. Food and Drug Administration or any successor entity.
1.48    “Field” means any and all uses.
1.49    “First Commercial Sale” means, with respect to a Licensed Product in a country, the first sale to a Third Party following the receipt of Regulatory Approval (including pricing and reimbursement approval if necessary to initiate marketing and sale of such Licensed Product in such country) in such country; provided that “First Commercial Sale” shall not include sale, disposal or use of a Licensed Product for marketing, regulatory, development or charitable purposes, such as clinical trials, pre-clinical trials, compassionate use, named patient use, or indigent patient programs, in each case, without consideration.
1.50    “Force Majeure” has the meaning set forth in Section 12.3.
1.51    “FTE” means the equivalent of the work of one qualified employee or agent for the applicable activities, full time, for one year. 
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1.52    “FTE Rate” means [***] per one full FTE per [***], which rate includes all direct and indirect costs of the performing Party’s FTE, including personnel and travel expenses. Such rate, [***]. 
1.53    “GAAP” means the then current generally accepted accounting principles in the U.S., as applied on a consistent basis.
1.54    “Gatekeeper” means a Third Party selected by the Parties to oversee the management of the Excluded Target List and the Reserved Target List.
1.55    “GCP” or “Good Clinical Practices” means the then-current standards, practices and procedures promulgated or endorsed by the FDA as set forth in the guidelines entitled “Guidance for Industry E6 Good Clinical Practice: Consolidated Guidance,” including related regulatory requirements imposed by the FDA and comparable regulatory standards, practices and procedures promulgated by the EMA or other Regulatory Authority applicable to the Territory, as they may be updated from time to time, including applicable quality guidelines promulgated under the ICH.
1.56    “GLP” or “Good Laboratory Practices” means the then-current good laboratory practice standards promulgated or endorsed by the FDA as defined in 21 C.F.R. Part 58, and comparable regulatory standards promulgated by the EMA or other Regulatory Authority applicable to the Territory, as they may be updated from time to time, including applicable quality guidelines promulgated under the ICH.
1.57    “Governmental Authority” means any multinational, federal, state, local, municipal, provincial or other governmental authority of any nature (including any governmental division, prefecture, subdivision, department, agency, bureau, branch, office, commission, council, court or other tribunal).
1.58    “Horizon Controlled Patents” has the meaning set forth in Section 7.2(a)(i).
1.59    “Horizon Indemnitees” has the meaning set forth in Section 9.1.
1.60    “Horizon Reserved Sequence” has the meaning set forth in Section 2.3(b).
1.61    “In Vivo Pharmacology Study” means any study which includes an efficacy or pharmacodynamic-related endpoint, including, any study in non-human primates (whether pharmacokinetic or not, and whether or not conducted under GLP).
1.62    “ICH” means International Conference on Harmonisation.
1.63    “IND” means (a) an Investigational New Drug Application as defined in the FD&C Act and applicable regulations promulgated thereunder by the FDA, or (b) the equivalent application to the equivalent agency in any other regulatory jurisdiction, the filing of which is necessary to Initiate or conduct a Clinical Trial of a pharmaceutical product in humans in such jurisdiction.
1.64    “Indemnified Party” has the meaning set forth in Section 9.3.
1.65    “Indemnifying Party” has the meaning set forth in Section 9.3.
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1.66    “Information” means any and all data, results, technology, business or financial information or information of any type whatsoever, in any tangible or intangible form, including know-how, trade secrets, practices, techniques, methods, processes, developments, specifications, formulations, or formulae of any type or kind (patentable or otherwise), software, algorithms, marketing reports, expertise, technology, test data (including pharmacological, biological, chemical, biochemical, clinical test data and data resulting from non-clinical studies), chemistry, manufacture and controls information, stability data and other study data and procedures.
1.67    “Initiation” means, with respect to a Clinical Trial, the first dosing of the first subject in such Clinical Trial. “Initiate” has a correlative meaning.
1.68    “Joint Program IP” has the meaning set forth in Section 7.1(b)(iii).
1.69    “Joint Program Patent” has the meaning set forth in Section 7.1(b)(iii).
1.70    “Joint Research Committee” or “JRC” has the meaning set forth in Section 4.10.
1.71    “JPC” means the committee described in Section 7.2(a)(vi).
1.72    “Knowledge” means, with respect to Alpine, the actual knowledge, as of the Effective Date, of the individuals listed on Exhibit E exercising reasonably diligent inquiry of such individual’s direct reports. 
1.73    “Laws” means any and all laws, statutes, rules, regulations, ordinances and other pronouncements having the effect of law of any Regulatory Authority or other Governmental Authority, including federal, national, multinational, state, provincial, county, city or other political subdivision.
1.74    “Lead Compound” means the lead [***] set forth on Exhibit F.
1.75    “Licensed Compound” means (a) any Licensed Existing Program Compound or (b) Research Program Compound.
1.76    “Licensed Existing Program Compound” means (a) [***] the Lead Compound, any Back-Up Compound and any Horizon Reserved Sequences [***], or (b) [***]. 
1.77    “Licensed Existing Program Product” means any product containing or comprising a Licensed Existing Program Compound, alone or in combination with one or more other active ingredients, in any and all forms, presentations, delivery systems, dosages and formulations.
1.78    “Licensed Know-How” means any and all Information that is (a) Controlled by Alpine or any of its Affiliates (subject to Section 2.7(b)) as of the Effective Date or at any time during the Term, and (b) [***] for the Development, Manufacturing, Commercialization, use, sale, offer for sale, importation or other exploitation of any Licensed Existing Program Compound or Licensed Existing Program Product in the Field, including Alpine’s Sole Program IP and Alpine’s rights in any Joint Program IP. Licensed Know-How shall include the Information listed on Exhibit G.  With regard to any Information first Controlled by Alpine or its Affiliate after the Query Period to the extent that it is specific to manufacturing, formulation, or delivery technology generally applicable to other products of Alpine or such Affiliates as well 
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as to Licensed Existing Program Compounds or Licensed Existing Program Products, it will be Licensed Know-How only if it is necessary for the Development, Manufacturing, Commercialization, use, sale, offer for sale, importation or other exploitation of any Licensed Existing Program Compound (including as incorporated into a Licensed Existing Program Product) in the Field.
1.79    “Licensed Patent” means any Patent that is (a) Controlled by Alpine or any of its Affiliates (subject to Section 2.7(b)) as of the Effective Date or at any time during the Term (including Alpine’s Sole Program Patents and Alpine’s rights in any Joint Program Patents), and (b) [***] for the Development, Manufacturing, Commercialization, use, sale, offer for sale, importation or other exploitation of any Licensed Existing Program Compound (including as incorporated into a Licensed Existing Program Product) in the Field, including any Patent claiming (i) any Licensed Existing Program Compound (including Licensed Existing Program Compound contained in a Licensed Existing Program Product) in the Field, (ii) any (A) [***], or (B) Horizon Reserved Sequences that are part of, or encode any part of, any Licensed Existing Program Compound, or (iii) the Manufacture or use of any Licensed Existing Program Compound (including Licensed Existing Program Compound contained in a Licensed Existing Program Product). The Licensed Patents existing as of the Effective Date are listed on Exhibit H.  With regard to any Patent first Controlled by Alpine or its Affiliate after the Query Period to the extent that it claims manufacturing, formulation, or delivery technology generally applicable to other products of Alpine or such Affiliates as well as to Licensed Existing Program Compounds or Licensed Existing Program Products, it will be a Licensed Patent only if it is necessary for the Development, Manufacturing, Commercialization, use, sale, offer for sale, importation or other exploitation of any Licensed Existing Program Compound (including as incorporated into a Licensed Existing Program Product) in the Field.
1.80    “Licensed Product” means (a) any Licensed Existing Program Product or (b) Research Program Product.
1.81    “Licensed Technology” means the Licensed Know-How and Licensed Patents.  
1.82    “Manufacture” means all activities related to the manufacturing of any Licensed Compound or Licensed Product, or any ingredient thereof, including test method development, analytical testing and stability testing, formulation, process development, manufacturing scale-up, manufacturing any Licensed Compound or Licensed Product in bulk or finished form for Development, manufacturing finished Licensed Product for Commercialization, packaging, in-process and finished product testing, release of Licensed Product or any component or ingredient thereof, quality assurance activities related to manufacturing and release of Licensed Product, and regulatory activities related to any of the foregoing. “Manufacturing” has a correlative meaning.
1.83    “Net Sales” means, with respect to a given period of time after First Commercial Sale of a Licensed Product, gross sales of such Licensed Product by Horizon, its Affiliates and Sublicensees (each a “Selling Party”) in such period, [***] by the Selling Party across its operations:
(a)    [***];
(b)    [***];
(c)    [***];
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(d)    [***];
(e)    [***];
(f)    [***];
(g)    [***];
(h)    [***].
Even if there is overlap between any of the [***] described above, [***].  For purposes of determining Net Sales, a Licensed Product shall be deemed to be sold when invoiced and a sale shall not include [***]. [***] shall be excluded from the computation of Net Sales if [***], but [***] shall be included in the computation of Net Sales.  
Notwithstanding the foregoing, in the event a Licensed Product is sold in a country in the Territory as a Combination Product, Net Sales of the Combination Product will be calculated as follows:
(i)    If the Licensed Product (containing only a Licensed Compound and no other active pharmaceutical ingredient) and the other active pharmaceutical ingredient(s) each are sold separately in such country, Net Sales will be calculated by [***].
(ii)    If the Licensed Product is sold independently of the other active pharmaceutical ingredient(s) therein in such country, but the other pharmaceutical ingredient(s) is not sold independently in such country, Net Sales will be calculated by [***].
(iii)    If the Licensed Product is not sold independently of the other active pharmaceutical ingredient(s) therein in such country, but the other active pharmaceutical ingredient(s) is sold independently in such country, Net Sales will be calculated by [***].
(iv)    If the Licensed Product is not sold independently in such country and the other active pharmaceutical ingredient(s) is not sold in reasonable quantities independently in such country, the Parties shall determine Net Sales for such Combination Product by [***].
All discounts, allowances, credits, rebates and other deductions, to the extent allocable across multiple products including a Licensed Product, shall be fairly allocated between the Licensed Product and other products of Horizon, its Affiliates or Sublicensees, so that the Licensed Product does not bear a disproportionate portion of such deductions.
1.84    “New Technology” has the meaning set forth in Section 2.7(b).
1.85    “Non-Breaching Party” has the meaning set forth in Section 11.3.
1.86    “Patents” means (a) pending patent applications, issued patents, utility models and designs; (b) reissues, substitutions, confirmations, registrations, validations, re-examinations, additions, continuations, continued prosecution applications, continuations-in-part, or divisions of or to any of the foregoing; and (c) extensions, renewals or restorations of any of the foregoing by existing or future extension, renewal or restoration mechanisms, including supplementary protection certificates or the equivalent thereof.
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1.87    [***].
1.88    [***].
1.89    [***].
1.90    [***].
1.91    [***].
1.92    “Person” means any individual, corporation, company, partnership, association, joint-stock company, trust, unincorporated organization or government or political subdivision thereof.
1.93    “Phase 1 Clinical Trial” means a Clinical Trial of a Licensed Product conducted in healthy volunteer subjects or patients with the disease or condition under study to evaluate the drug metabolism, pharmacologic actions, the side effects or, if possible, to gain early evidence on the effectiveness of the Licensed Product, as and to the extent defined for the U.S. in 21 C.F.R. § 312.21(a), as amended from time to time, or equivalent law or regulation in regulatory jurisdictions outside the U.S.
1.94    “Phase 2 Clinical Trial” means a Clinical Trial of a Licensed Product conducted in patients with the disease or condition under study to evaluate dose ranges, pharmacodynamics, biomarkers, biological activity or the effectiveness of the Licensed Product, as and to the extent defined for the U.S. in 21 C.F.R. § 312.21(b), as amended from time to time, or equivalent law or regulation in regulatory jurisdictions outside the U.S.
1.95    “Phase 3 Clinical Trial” means a Clinical Trial of a Licensed Product with a defined dose or a set of defined doses of such Licensed Product on sufficient numbers of human patients designed to confirm with statistical significance the safety and efficacy of such Licensed Product and to support a Regulatory Approval, as and to the extent defined for the U.S. in 21 C.F.R. § 312.21(c), as amended from time to time, or equivalent law or regulation in regulatory jurisdictions outside the U.S.
1.96    “PHSA” means the United States Public Health Service Act, as amended from time to time.
1.97    “Pivotal Clinical Trial” shall mean (a) a Phase 3 Clinical Trial, or (b) any other Clinical Trial of a Licensed Product for which the applicable Regulatory Authority has agreed, whether before Initiation of such Clinical Trial (e.g., pursuant to an agreement with or statement from the FDA or the EMA on a ‘Special Protocol Assessment’ or equivalent or other guidance or minutes issued by the FDA or EMA) or after Initiation of such Clinical Trial (e.g., based on an interim data analysis), is sufficient to form the primary basis of an efficacy claim in a Regulatory Approval Application submission, regardless of whether the sponsor of such trial characterizes or refers to such trial as a [***] trial (or otherwise) in the applicable protocol, on clinicaltrials.gov, or in any other context. If a Clinical Trial is determined by the applicable Regulatory Authority, after review of the efficacy and safety data from a [***] Clinical Trial for the Licensed Product, to be sufficient to form the primary basis of an efficacy claim in a Regulatory Approval Application submission (i.e. Clinical Trial constitutes a Pivotal Clinical Trial) without the need for a Phase 3 Clinical Trial(s) prior to submission, then, for purposes of Section 6.4, the Initiation of such Pivotal Clinical Trial shall be deemed to have occurred on the date of such determination by the applicable Regulatory Authority.
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1.98    “Product Infringement” has the meaning set forth in Section 7.3(a).
1.99    “Product-Specific Claim” has the meaning set forth in Section 7.2(a)(i). 
1.100    “Product-Specific Patent” has the meaning set forth in Section 7.2(a)(i). 
1.101    “Program” means, individually and collectively, the Existing Program and the Research Program. 
1.102    “Proposed Target” means any Target that is proposed by Horizon to be a Reserved Target.
1.103    “Prosecution and Maintenance” means, with respect to any Patent, the preparation, filing, prosecution and maintenance (including any oppositions, interferences, reissue proceedings, reexaminations, post-grant proceedings, supplemental examinations, post grant review proceedings, inter partes review proceedings, patent interference proceedings, opposition proceedings, derivation proceedings, reissue and reexamination, maintenance and defense) of or with respect to such Patent. For clarity, “Prosecution and Maintenance” shall not include requests for Patent term extensions.
1.104    “Query(ies)” means each written request by Horizon specifying the qualities and characteristics with respect to a particular [***] in regard to which Alpine will interrogate the Alpine Libraries.  
1.105    “Query Period” means the period commencing on the Effective Date and ending [***].
1.106    “Regulatory Approval” means all approvals from the relevant Regulatory Authority in a given country or regulatory jurisdiction of the Regulatory Approval Application for a Licensed Product in the Field, including all licenses, registrations, and pricing or reimbursement approvals, that are necessary to initiate the sale and marketing of such Licensed Product, in such country or regulatory jurisdiction.
1.107    “Regulatory Approval Application” means an application to the appropriate Regulatory Authority for approval to sell a Licensed Product in any particular jurisdiction, including a New Drug Application in the U.S.
1.108    “Regulatory Authority” means, in a particular country or jurisdiction, any applicable Governmental Authority that has the authority to regulate the manufacture, marketing, testing, pricing, or sale of drug products in such country or jurisdiction.
1.109    “Regulatory Exclusivity” means any exclusive marketing rights or data exclusivity rights conferred by any Governmental Authority under applicable Law with respect to a Licensed Product in a country or jurisdiction in the Territory to prevent Third Parties from Commercializing such Licensed Product in such country or jurisdiction, other than a Patent right, including orphan drug exclusivity, pediatric exclusivity, rights conferred in the U.S. under the Hatch-Waxman Act or the FDA Modernization Act of 1997, in the EU under Directive 2001/83/EC, or rights similar thereto in other countries or regulatory jurisdictions in the Territory.
1.110    “Regulatory Materials” means regulatory applications, submissions, notifications, communications, correspondence, registrations, Regulatory Approvals or other filings made to, received from or otherwise conducted with a Regulatory Authority in order to 
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Develop, Manufacture, or Commercialize a Licensed Product in a particular country or jurisdiction.
1.111    “Research Plan” means, with respect to any Research Program Target(s), the plan agreed to by the Parties in writing setting forth certain research activities to be conducted by Alpine, the associated budget and Research Program Deliverables. The initial Research Plan is attached hereto as Exhibit I.
1.112    “Research Program” has the meaning set forth in Section 4.1.
1.113    “Research Program Compound” means (a) any molecule or compound that contains, comprises or incorporates (i) [***] (ii) [***] (b) [***] 
1.114    “Research Program Deliverables” means, with respect to any Research Program, the Research Program Libraries, including proteins, molecules and sequences contained therein, data, and types and quantities of molecules, controls, plasmids, and proteins to be provided for such Research Program as agreed in the Research Plan.
1.115    “Research Program IP” has the meaning set forth in Section 7.1(c)(i).
1.116    “Research Program Libraries” means, with respect to any Research Program Target(s), the libraries of proteins and molecules[***].
1.117    “Research Program Patents” has the meaning set forth in Section 7.1(c)(ii).
1.118    “Research Program Product” means any product containing or comprising a Research Program Compound, alone or in combination with one or more other active ingredients, in any and all forms, presentations, delivery systems, dosages and formulations.
1.119    “Research Program Target” means any Reserved Target selected by Horizon for a research program to be conducted in accordance with Article 4, unless and until replaced pursuant to Section 4.2.
1.120    “Research Program Term” has the meaning set forth in Section 4.6.
1.121    “Research Specifications” has the meaning set forth in Section 4.5.
1.122    “Reserved Target” means any of the Targets on the Reserved Target List provided by Horizon to the Gatekeeper, as such list may be amended pursuant to Section 4.2.
1.123    “Royalty Term” has the meaning set forth in Section 6.6(b).
1.124    “Selection Period” has the meaning set forth in Section 4.2(b).
1.125    [***].
1.126    “Sole Program IP” has the meaning set forth in Section 7.1(b)(ii).
1.127    “Sole Program Patent” has the meaning set forth in Section 7.1(b)(ii).
1.128    “SPA” has the meaning set forth in Section 6.2. 
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1.129    “Specifications” has the meaning set forth in Section 3.1.
1.130    “Subcontractors” has the meaning set forth in Section 2.1(b).
1.131    “Subject Patent” has the meaning set forth in Section 7.4.
1.132    “Sublicensee” means any Third Party to whom Horizon grants a sublicense of the license granted in Section 2.2(a) or a license under any Research Program IP with respect to any Research Program Product.
1.133    “Substitution Notice” has the meaning set forth in Section 2.3(b).
1.134    “Target” means any [***].
1.135    “Term” has the meaning set forth in Section 11.1.
1.136    “Territory” means worldwide.
1.137    “Third Party” means any entity other than Alpine or Horizon or an Affiliate of either of them.
1.138    “U.S.” means the United States of America, including all possessions and territories thereof.
1.139    “Valid Claim” means a claim [***].
1.140    “Variant” [***].
1.141    “VAT” means value added tax, sales taxes, consumption taxes and other similar taxes imposed or required by applicable Law.
ARTICLE 2
LICENSES
2.1    Research License. 
(a)    Non-Exclusive License to Use the Alpine Libraries. Subject to the terms and conditions of this Agreement, Alpine hereby grants to Horizon a non-exclusive license to access the Alpine Libraries and use the proteins and molecules within the Alpine Libraries (i) to research, discover and identify [***] for further Development as Licensed Existing Program Compounds [***] or (ii) [***] in connection with the activities in clause (i) and the exercise of the rights granted in Section 2.2 with respect to any Licensed Existing Program Compounds resulting from the activities in clause (i) [***]. For clarity, Horizon may use the proteins and molecules within the Alpine Libraries as permitted by the proceeding sentence and [***]; however, Horizon shall not use the Alpine Libraries or proteins or molecules therein to develop any [***].  Alpine will disclose to Horizon the Alpine Libraries on the Effective Date [***].
(b)    Subcontractors. Horizon shall have the right to utilize its Affiliates and Third Party subcontractors (“Subcontractors”) to perform activities set forth in Section 2.1(a) for or on behalf of Horizon, subject to the terms and conditions set forth in Section 2.4(b).
2.2    Exclusive Development and Commercialization License. 
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(a)    Exclusive License Grant.  Subject to the terms and conditions of this Agreement, Alpine hereby grants to Horizon an exclusive (even as to Alpine and its Affiliates), royalty-bearing license, with the right to sublicense as provided in Section 2.4, under the Licensed Technology, to Develop, Manufacture, Commercialize, make, have made, use, sell, offer for sale, import and otherwise exploit Licensed Existing Program Compounds and Licensed Existing Program Products in the Field in the Territory. For clarity, no license whatsoever (whether to Information or intellectual property) is granted by Alpine with respect to any active pharmaceutical ingredient(s) or other subject matter that is Controlled by Alpine or its Affiliates incorporated in any Licensed Existing Program Product other than the Licensed Existing Program Compound(s) contained in or comprising such Licensed Existing Program Product.
(b)    Subcontractors. Horizon shall have the right to utilize its Affiliates and Subcontractors to perform activities set forth in Section 2.2(a) for or on behalf of Horizon, subject to the terms and conditions set forth in Section 2.4(b).
2.3    Use and Restrictions on [***] in Alpine Libraries.  
(a)    Alpine Right to Use.  Subject to this Section 2.3 and the limitations in Section 2.8, and excluding any Horizon Reserved Sequences, Alpine shall retain the right to use all other [***] in the Alpine Libraries to generate compounds (excluding any [***]) for Alpine’s other programs.  Alpine may update the list of Alpine Reserved Sequences on Exhibit A upon written notice to Horizon to add any such [***] in the Alpine Libraries (subject to the limitations in Section 2.8, and [***].
(b)    Horizon Reserved Sequences.  The [***] that are part of, or encode any part of, the Lead Compound and any [***] that are part of, or encode any part of, the Back-Up Compounds are referred to as “Horizon Reserved Sequences”. [***] Alpine shall deliver the Horizon Reserved Sequences to Horizon together with the Lead Compound and the Back-Up Compounds in accordance with Section 3.1. With regard to any [***] identified from the Alpine Libraries during the Query Period that Horizon selects to substitute for a Horizon Reserved Sequence in accordance with this Section 2.3(b), [***].
2.4    Sublicensing and Subcontracting Rights.
(a)    Sublicenses. Horizon shall have the right to grant sublicenses of the license granted in Section 2.2(a) to its Affiliates or Sublicensees, subject to the following:
(i)    Horizon shall remain responsible for the performance of its obligations hereunder and any and all failures by its Affiliates and Sublicensees to comply with the applicable terms of this Agreement; 
(ii)    such sublicense shall be granted pursuant, and subject to, a written agreement that is consistent with the terms and conditions of this Agreement and Horizon shall contractually require that its Sublicensees comply with the applicable terms and conditions of this Agreement; 
(iii)    Horizon shall provide to Alpine a fully executed copy of each agreement pursuant to which such sublicense is granted promptly after execution, which may be redacted with respect to matters unnecessary to show compliance herewith; and
(iv)    [***] 
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(b)    Subcontractors. Horizon (and its Affiliates and Sublicensees) shall have the right to retain and authorize Subcontractors to perform any activity in connection with Horizon’s (or its Affiliate’s or Sublicensee’s) exercise of any of its rights or performance of any of its obligations hereunder, where such activity is to be performed at the direction and control and for the sole benefit of Horizon, its Affiliates or Sublicensees. Such retention of such Subcontractor shall not be a sublicense within the meaning of this Section 2.4 but shall be considered an activity of Horizon under the license granted in Section 2.2(a). Horizon shall remain liable to Alpine for any act or omission of its Subcontractors and any and all failures by such Subcontractors to comply with the terms of this Agreement. 
2.5    Disclosure of Licensed Know-How. Alpine will promptly transfer to Horizon all Licensed Know-How (a) promptly following the Effective Date to the extent then existing, (b) generated during the activities conducted pursuant to the Deliverables Plan, as applicable, [***] following completion of such activities, and (c) [***].
2.6    Retained Rights; No Implied Licenses. Except as expressly granted under Sections 2.1 and 2.2 and subject to Sections 2.3 and 2.8, Alpine retains all rights under the Licensed Technology, including the right to fulfill Alpine’s obligations under this Agreement. Except as explicitly set forth in this Agreement, neither Party shall be deemed by estoppel or implication to have granted the other Party any license or other right to any intellectual property of such Party. 
2.7    Third Party Agreements. 
(a)    During the Term, if Alpine or its Affiliate is planning to enter into an agreement with a Third Party under which Alpine or its Affiliate obtains a license or rights to Information or Patents that are necessary for the Development Manufacture or Commercialization of one or more Licensed Compounds (including as incorporated into Licensed Products), then Alpine shall provide Horizon with written notice thereof. [***].  
(b)    During the Term, subject to Section 2.7(a), if Alpine or any of its Affiliates enters into an agreement with a Third Party under which Alpine or its Affiliate obtains a license or rights, with the right to sublicense, to Information or Patents that would fall within the definition of Licensed Know-How or Licensed Patents (“New Technology”) (each such agreement, an “Alpine Third Party Agreement”), then Alpine shall inform Horizon and shall provide Horizon with a copy of the Alpine Third Party Agreement, which may be redacted if necessary to exclude only confidential terms that would not be relevant to any rights or obligations of Horizon. [***].
2.8    Exclusivity and Non-Compete. 
(a)    During the Term, except for the activities conducted and rights granted to Horizon by Alpine with respect to Licensed Compounds and Licensed Products as expressly provided in this Agreement, Alpine and its Affiliates shall not conduct or participate in, or license, sublicense or enable any Third Party to conduct or participate in, the development, manufacture or commercialization of, or research for the intended purpose of identifying or discovering, [***]. 
(b)    Notwithstanding the provisions of Section 2.8(a), in the event that after the Effective Date, a Change of Control of Alpine occurs and the Acquiror in such Change of Control (or any of its Affiliates existing prior to such Change of Control that are not combined with Alpine or any of its Affiliates in or after such Change of Control) is as of the effective date 
15

of such Change of Control or thereafter developing or commercializing a Competing Product, [***].
(c)    Covenants.  Horizon agrees on behalf of itself and its Affiliates not to (i) Develop, Manufacture, Commercialize or otherwise exploit any Licensed Existing Program Product for any oncology application or (ii) enable, (sub)license or authorize any Third Party to take any action prohibited by clause (i) (it being understood that nothing can prevent off-label use).  Alpine agrees on behalf of itself and its Affiliates not to (A) Develop, Manufacture, Commercialize or otherwise exploit any Licensed Product for any application or (B) enable, (sub)license or authorize any Third Party to take any action prohibited by clause (A).
ARTICLE 3
EXISTING PROGRAM
3.1    Alpine Deliverables and Responsibilities. The Parties have agreed to the initial Deliverables Plan attached as Exhibit C as of the Effective Date, and during the Query Period, the Parties may mutually agree in writing to enter into one or more additional Deliverables Plans. Alpine shall conduct the activities, with the objective of delivering the Deliverables, as contemplated by and in accordance with the Deliverables Plan. The Deliverables Plan shall provide the specific Queries Alpine is to use in identifying [***] from the Alpine Libraries and the specifications and quality details as to each Deliverable (“Specifications”). Alpine shall provide Horizon the Deliverables within [***] of completion of the applicable Deliverables Plan. Alpine shall provide Deliverables that meet the Specifications. 
3.2    Records; Updates. Alpine shall maintain complete, current and accurate records of all activities conducted pursuant to the Deliverables Plan, and all data and other information resulting from such Deliverables Plan activities. Such records shall properly reflect all work performed and results achieved in the performance of such Deliverables Plan activities in good scientific manner appropriate for regulatory purposes.  
3.3    Costs and Payment for Deliverables. Horizon shall pay Alpine for [***]. Payment for [***] will be subject to Horizon’s prior written consent. Alpine shall submit [***] to be paid by Horizon in accordance with the Deliverables Budget, and payment is due within [***] of Horizon’s receipt of the applicable invoice. 
3.4    Subcontractors. Alpine shall have the right to engage Subcontractors to perform any portion of its obligations under the Deliverables Plan; provided that (a) Alpine shall promptly provide Horizon notice thereof, and (b) each Subcontractor shall be required to agree in writing to be bound by terms with respect to (i) maintenance of the confidentiality of Confidential Information that are no less stringent than those contained in this Agreement and (ii) ownership of intellectual property that are consistent with those contained in this Agreement. Alpine shall remain liable to Horizon for any act or omission of its Subcontractors and any and all failures by such Subcontractors to comply with the terms of this Agreement.
ARTICLE 4
RESEARCH PROGRAMS
4.1    Overview.  During the Research Program Term, the Parties shall conduct a research collaboration pursuant to which Horizon will select one or more Research Program Targets pursuant to Section 4.2 for a particular research program and Alpine will conduct research using its proprietary technologies to discover proteins and molecules, including Variants, and genetic sequences for such proteins, molecules and Variants, designed to have 
16

specified attributes and biological functions in accordance with the Research Plan with respect to such Research Program Target(s) (the program for research with respect to such Research Program Target(s), a “Research Program”). For clarity, a given Research Program may be for the purpose of discovering Research Program Compounds with respect to one Research Program Target or with respect to multiple Research Program Targets.
4.2    Selection of Research Program Targets for a Research Program.  
(a)    Schedule for Initial Selection.  Horizon will use reasonable efforts to select one or more Reserved Targets (after discussion with Alpine through the JRC) as initial Research Program Targets for a Research Program pursuant to the following schedule, as may be modified by written agreement of the Parties; provided that nothing in this Section 4.2(a) is intended to limit Horizon’s ability to replace Research Program Targets in accordance with Section 4.2(c): 
						
	Research Program	Timing for Initial Selection
	First Research Program	[***]
	Second Research Program	[***]
	Third Research Program	[***]

(b)    Selection of Research Program Targets for a Research Program.  At any time [***] (“Selection Period”), subject to the schedule for initial selection in Section 4.2(a), Horizon may, upon written notice to Alpine and the Gatekeeper, (i) select any one or more Reserved Targets as Research Program Targets for a Research Program upon written notice to Alpine and the Gatekeeper or (ii) [***].  
(c)    Changes to Reserved Targets.  During the Selection Period, Horizon may submit any Proposed Target(s) as proposed additional or replacement Reserved Target(s) by providing written notice to the Gatekeeper; [***]. Within [***] from receipt of such notice, the Gatekeeper, by reviewing the Excluded Target List, shall inform Horizon whether there is a Conflict with respect to the Target(s) based on the Excluded Target List.  If there is no Conflict, the Proposed Target(s) will automatically become Reserved Target(s) and if such Target(s) replace any other Reserved Target(s), such replaced Target(s) shall cease to be Reserved Target(s).  After the Selection Period, Horizon shall no longer have any right to select any Reserved Target(s) as Research Program Target(s).  At the end of the Selection Period, only Targets that are then Research Program Targets shall continue to be Reserved Targets.  Horizon may, at any time after the Effective Date, provide written notice to the Gatekeeper that a Target is no longer a Reserved Target.
(d)    Excluded Target List.  Following the Effective Date, Alpine shall be permitted to add new Targets to the Excluded Target List by providing written notice to the Gatekeeper, in accordance with this Section 4.2(d), and provided that [***].
4.3    Research Plan.  The Parties will review and update the Research Plan for a Research Program as appropriate promptly following selection of the Research Program Target(s).  The JRC shall review the Research Plan no less than [***] or on such other interval mutually agreed to by the Parties. 
4.4    Conduct of Research Program.  The Parties shall in good faith conduct the work to be performed by each of them as set out in the applicable Research Plan during the Research 
17

Program Term, using their respective Commercially Reasonable Efforts to accomplish the objectives of the Research Plan in accordance with the terms of this Agreement. [***]  After delivery of the Research Program Deliverables by Alpine to Horizon, Horizon will be solely responsible for further development; [***].  
4.5    Research Program Deliverables. Alpine shall conduct the activities and deliver the Research Program Deliverables contemplated by and in accordance with the Research Plan. The Research Plan shall provide specifications and quality details (“Research Specifications”) as to each Research Program Deliverable. Alpine shall provide Horizon the Research Program Deliverables as specified in the Research Plan meeting the Research Specifications; provided that, if Alpine [***].
4.6    Research Program Term. The term of the Research Programs shall commence on the Effective Date and continue until (a) the end of the Selection Period if [***], (b) the end of the Selection Period if [***], or (c) [***] after the end of the Selection Period, [***] (“Research Program Term”). The Research Program Term may be extended by mutual written agreement of the Parties, and the corresponding Research Plan and, as applicable, the associated budget therewith shall be amended to reflect the extension.
4.7    Subcontractors. Alpine shall have the right to engage Subcontractors to perform any portion of its obligations under any Research Plan; provided that (a) Alpine shall promptly provide Horizon notice thereof, and (b) each Subcontractor shall be required to agree in writing to be bound by terms with respect to (i) maintenance of the confidentiality of Confidential Information that are no less stringent than those contained in this Agreement and (ii) ownership of intellectual property that are consistent with those contained in this Agreement. Alpine shall remain liable to Horizon for any act or omission of its Subcontractors and any and all failures by such Subcontractors to comply with the terms of this Agreement.
4.8    Records and Reports.  
(a)    Records. Each Party shall maintain complete, current and accurate records of all activities conducted pursuant to any Research Plan, and all Information resulting from such Research Plan activities. Such records shall properly reflect all work performed and results achieved in the performance of such Research Plan activities in good scientific manner appropriate for regulatory and patent purposes, including the work done and results achieved by any Affiliate or Third Party on behalf of such Party. During each JRC meeting, each Party shall provide the JRC with an update on the progress of Research Plan activities and any Information generated from such Research Plan activities since the prior JRC meeting. 
(b)    Copies and Inspection of Records. Horizon shall have the right, during normal business hours and upon reasonable advance written notice not more than [***] (unless such audit shows cause for any additional audit(s) during such period), to (i) [***] in a manner intended to minimize any disruption of and interference with Alpine’s or its Subcontractor’s operations and subject to such Horizon personnel agreeing to be bound by the rules applicable to such facility.
(c)    Quarterly Reports. At least [***] before each JRC meeting (but not more often than [***], Alpine shall provide to Horizon a written progress report in English which shall describe the work performed since the last such update on the Research Programs by or on behalf of Alpine, evaluate such work performed in relation to the goals of the Research Programs and provide such other information as may be necessary for the conduct of the Research Programs or reasonably requested by Horizon relating to the progress of the goals or performance of the 
18

Research Programs. For clarity, all such reports shall be considered the Confidential Information of both Parties.  
4.9    Research Costs. Horizon shall pay Alpine for the costs and expenses for conducting the activities under any Research Plan [***]. Payment for additional costs and expenses will be subject to Horizon’s prior written consent. Alpine shall submit an invoice for such costs and expenses [***], and payment is due within [***] of Horizon’s receipt of the applicable invoice.
4.10    Joint Research Committee. Within [***] after the Effective Date, the Parties shall establish a joint research committee (the “Joint Research Committee” or “JRC”). The JRC shall consist of [***] members from each Party (or such other number as agreed to by the Parties), and each Party may replace any of its members of the JRC from time to time by providing prior written notice (which may be by email) to the other Party. The JRC will have [***]. The chairpersons shall be responsible for calling and convening meetings but shall have no special authority over the other members of the JRC and shall have no additional voting rights.
(a)    Specific Responsibilities of the JRC. The JRC shall serve as a forum for overseeing and governing the Research Programs in accordance with the procedures set forth in this Section 4.10 and any other procedures as agreed upon by the JRC members. Except as otherwise provided herein, the role of the JRC shall be to:
(i)    exchange information and facilitate discussions and cooperation between the Parties with respect to activities conducted under the Research Programs;
(ii)    monitor, review and record the progress of the Research Programs;
(iii)    review and approve any Research Plans or updates or amendments to the Research Plans, including criteria for Research Program Deliverables;
(iv)    facilitate the activities of the Gatekeeper; and
(v)    carry out any other functions delegated to it by the Parties.
(b)    Meetings; Minutes. The JRC shall meet regularly, and at least [***], during the Research Program Term, or as otherwise agreed upon by the Parties. JRC meetings may be held in person or by audio or video conference as the Parties may mutually agree. In-person meetings shall be held at locations alternately selected by the Parties. The JRC chairpersons shall be responsible for calling meetings on no less than [***] notice. The Parties shall alternate for each JRC meeting to have their chairperson (or designate): (i) prepare and circulate an agenda (requested by any member of either Party) reasonably in advance of the upcoming meeting; and (ii) prepare and issue minutes of the JRC meeting as promptly as practicable thereafter. Such minutes shall not be finalized until the chairperson of the non-preparing Party reviews and approves such minutes in writing.  Employees or consultants of either Party who are not representatives of the Parties on the JRC may attend meetings of the JRC; provided that (A) such attendees shall be bound by obligations of confidentiality and non-disclosure that are at least as stringent as the provisions of Article 10, and (B) attendance of any non-employee must be pre-approved by the other Party, such approval not to be unreasonably withheld, conditioned or delayed.  Each Party shall be responsible for all travel and related costs and expenses for its members and other representatives to attend meetings of, and otherwise participate in, the JRC.
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(c)    Decision-Making.  The JRC will use good faith efforts to make all decisions within its authority by consensus. Actions to be taken by the JRC shall be taken only following [***], with Alpine’s representatives collectively having [***] and Horizon’s representatives collectively having [***]. If the JRC fails to reach agreement on a matter before it concerning Section 4.10(a), either Party may submit such matter for resolution to the Parties’ executive officers in accordance with the provisions of Section 12.1(c).  If the executive officers are unable to resolve a matter within the authority of the JRC within [***] (or such other period as may be agreed by the Parties in writing) after such referral, [***].
(d)    Limitations on Authority. The JRC shall only have the powers expressly assigned to it in this Agreement and shall not have the authority to: (i) modify or amend the terms and conditions of this Agreement; (ii) waive either Party’s compliance with the terms and conditions of this Agreement; or (iii) determine any such issue in a manner that would conflict with the express terms and conditions of this Agreement.  Each Party shall retain the rights, powers, and discretion granted to it under this Agreement and no such rights, powers, or discretion shall be delegated to or vested in the JRC unless the Parties expressly so agree in writing. 
(e)    Discontinuation of the JRC. Upon completion of the Research Program Term, unless agreed in writing by the Parties, the JRC will be dissolved.
ARTICLE 5
DEVELOPMENT, MANUFACTURE, REGULATORY AND COMMERCIALIZATION
5.1    Horizon Rights and Responsibilities. Without limiting Section 5.3, Horizon (itself and with its Affiliates and Sublicensees) shall have the sole right and responsibility, in its sole discretion and at its expense, for all aspects of the Development, Manufacturing, and Commercialization of the Licensed Compounds and Licensed Products in the Territory, including all decisions regarding the clinical development plan and regulatory strategy, design, sale, price and promotion, of Licensed Compounds and Licensed Products. Without limiting the foregoing or Section 5.3, Horizon (itself and with its Affiliates and Sublicensees) shall have the sole right and responsibility, in its sole discretion and at its expense, for preparing, filing and maintaining all Regulatory Materials for Licensed Compounds and Licensed Products with applicable Regulatory Authorities in the Territory, and Horizon shall own all Regulatory Materials (including all INDs, NDAs, Regulatory Approval Applications and Regulatory Approvals) for Licensed Compounds and Licensed Products in the Territory and otherwise shall be responsible for all regulatory matters with respect to Licensed Compounds and Licensed Products in the Territory. Horizon shall be responsible for creating and maintaining a global safety database for Licensed Compounds and Licensed Products in the Territory, at Horizon’s expense and for reporting quality complaints, adverse events and safety data related to Licensed Compounds and Licensed Products to applicable Regulatory Authorities in the Territory, as well as responding to safety issues and to all requests of Regulatory Authorities relating to Licensed Compounds and Licensed Products in the Territory. 
5.2    Alpine Support. Prior to the [***] of the Effective Date, Horizon may request that Alpine (a) [***]. Any such reasonable assistance and cooperation and attendance at regulatory meetings provided by Alpine pursuant to this Section 5.2 shall be [***].
5.3    Diligence. Horizon shall use Commercially Reasonable Efforts to Develop, seek Regulatory Approval for and, if Regulatory Approval is obtained, [***].
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5.4    Communication.  With respect to Licensed Existing Program Products, [***], Horizon shall provide Alpine a summary [***] of material developments with respect to Licensed Existing Program Products, [***].  With respect to Research Program Products on a Research Program-by-Research Program basis, [***] and [***], Horizon shall provide Alpine a summary [***] of the clinical and regulatory status of such Research Program Product, [***].  All reports and other Information provided by Horizon under this Section 5.4 will be Horizon’s Confidential Information, subject to the terms of Article 10. 
ARTICLE 6
FINANCIAL TERMS
6.1    Upfront Payment. Within [***] after the Effective Date, Horizon shall pay to Alpine a one-time, non-refundable and non-creditable upfront license payment of twenty-five million Dollars ($25,000,000).
6.2    Equity Consideration. Concurrent with the execution and delivery of this Agreement, the Parties shall enter into a stock purchase agreement (the “SPA”), pursuant to which Horizon shall agree to purchase fifteen million Dollars ($15,000,000) in equity of Alpine at a twenty-five percent (25%) premium over the thirty (30) day volume weighted average price ending five (5) trading days before the announcement of this Agreement all on the terms and conditions set forth in the SPA.
6.3    Pre-clinical Milestone Payment. 
(a)    Existing Program.  Within [***] of the [***] for the first Licensed Existing Program Compound, Horizon shall pay to Alpine a [***] of [***]. For clarity, this milestone payment shall only be payable once.
(b)    Research Program. Within [***] of: (i) the [***] for the first Research Program Compound for a given Research Program and (ii) the delivery of Research Program Deliverables for such Research Program Compound, Horizon shall pay to Alpine a one-time, non-refundable and non-creditable payment of [***]. For clarity, this milestone payment shall only be payable once per Research Program for up to three (3) separate Research Programs, and the total amount of milestone payments made by Horizon to Alpine under this Section 6.3(b) if this milestone event is achieved for three (3) Research Programs shall in no event exceed [***].
6.4    Development and Regulatory Milestone Payments. 
(a)    Existing Program.  Within [***] after the first achievement by a Licensed Existing Program Product of any development and regulatory milestone event set forth below, Horizon shall pay to Alpine the corresponding one-time, non-refundable, non-creditable development and regulatory milestone payment specified below. For clarity, each milestone payment below shall only be payable once, and the total amount of milestone payments made by Horizon to Alpine under this Section 6.4(a) shall in no event exceed [***]. 
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	Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

(b)    Research Program.  Within [***] after the first achievement by a Research Program Product for a given Research Program of any development and regulatory milestone event set forth below, Horizon shall pay to Alpine the corresponding one-time, non-refundable, non-creditable development and regulatory milestone payment specified below. For clarity, each milestone payment below shall only be payable once per Research Program for up to three (3) separate Research Programs, and the total amount of milestone payments made by Horizon to Alpine under this Section 6.4(b) for a Research Program, if all milestone events are achieved for such Research Program, shall in no event exceed [***], and, if all milestone events are achieved for  three (3) Research Programs, shall in no event exceed [***].  Milestone events and payments will be determined separately for each Research Program.
						
	Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]
	[***]

6.5    Sales Milestones. 
(a)    Existing Program.  Within [***] after the Calendar Quarter in which any sales milestone event set forth below is achieved by any Licensed Existing Program Product(s), Horizon shall make the corresponding one-time, non-refundable (except as set forth in Section 6.10), non-creditable sales milestone payment to Alpine specified below. For clarity, each milestone payment below shall only be payable once, and the total amount of milestone payments made by Horizon to Alpine under this Section 6.5 shall in no event exceed [***].
						
	Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

(b)    Research Program. Within [***] after the Calendar Quarter in which any sales milestone event set forth below is achieved by any Research Program Product(s) for a given 
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Research Program, Horizon shall make the corresponding one-time, non-refundable (except as set forth in Section 6.10), non-creditable sales milestone payment to Alpine specified below. For clarity, each milestone payment below shall only be payable once per Research Program for up to  three (3) separate Research Programs, and the total amount of milestone payments made by Horizon to Alpine under this Section 6.5(b) for a Research Program, if all milestone events are achieved for a Research Program, shall in no event exceed [***] per Research Program, and, if all milestone events are achieved for  three (3) Research Programs, shall in no event exceed [***].  Milestone events and payments will be determined separately for each Research Program.
						
	Milestone Event	Milestone Payment
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

6.6    Royalties
(a)    Royalty Rates. 
(i)    Licensed Existing Program Products.  Subject to this Section 6.6, in each Calendar Quarter during the Royalty Term applicable to Licensed Existing Program Products, Horizon shall pay to Alpine non-creditable, non-refundable (except as set forth in Section 6.10) [***] on annual Net Sales of Licensed Existing Program Products in the Territory, as calculated by multiplying the applicable royalty rate by the corresponding amount of incremental Net Sales of such Licensed Existing Program Products in the Territory in each Calendar Year, as follows:
						
	Annual Net Sales of Licensed Existing Program Products	Royalty Rate
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

(ii)    Research Program Products. Subject to this Section 6.6, in each Calendar Quarter during the Royalty Term applicable to the Research Program Products for a given Research Program, Horizon shall pay to Alpine non-creditable, non-refundable (except as set forth in Section 6.10) royalties on annual Net Sales of such Research Program Products in the Territory, as calculated by multiplying the applicable royalty rate by the corresponding amount of incremental Net Sales of such Research Program Products in the Territory in each Calendar Year, as follows, with Net Sales and royalties determined separately for each Research Program:
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	Annual Net Sales of Research Program Products	Royalty Rate
	[***]	[***]
	[***]	[***]
	[***]	[***]
	[***]	[***]

(b)    Royalty Term. Royalties shall be paid under this Section 6.6(b), (i) on a Licensed Existing Program Product-by-Licensed Existing Program Product and country-by-country basis, commencing on the First Commercial Sale of a Licensed Existing Program Product in a country and ending on the later of (A) [***], (B) [***] and (C) the [***] anniversary of the First Commercial Sale of such Licensed Existing Program Product in such country, or (ii) on a [***], commencing on the First Commercial Sale of a Research Program Product in a country and ending on the later of (A) [***], (B) [***], and (C) the [***] anniversary of the First Commercial Sale of such Research Program Product in such country (as applicable to the particular Licensed Existing Program Product or Research Program Product, the “Royalty Term”). 
(c)    No Valid Claim. 
(i)    If, during the Royalty Term for a Licensed Existing Program Product in a country, the composition of matter or method of use of such Licensed Existing Program Product (or Licensed Existing Program Compound contained therein) in such country is not covered by a Valid Claim of a Licensed Patent, then the applicable royalty rates set forth in Section 6.6(a) with respect to Net Sales of such Licensed Existing Program Product and such country shall be reduced by [***] during the period of the Royalty Term in which no Valid Claim of a Licensed Patent exists.  
(ii)    If, during the Royalty Term for a Research Program Product in a country, the composition of matter or method of use of such Research Program Product (or Research Program Compound contained therein) in such country is not covered by a Valid Claim of a Research Program Patent, then the applicable royalty rates set forth in Section 6.6(a) with respect to Net Sales of such Research Program Product and such country shall be reduced by [***] during the period of the Royalty Term in which no Valid Claim of a Research Program Patent exists.  
(d)    Biosimilar Competition. If, during the Royalty Term for a Licensed Product in a country, one or more Biosimilars is sold in such country, the applicable royalty rates set forth in Section 6.6(a) for such Licensed Product in such country shall be reduced in such country by [***] commencing at such time that the market penetration of the Biosimilars in such country is equal to or greater than [***], as determined by dividing (i) [***] by (ii) [***].
(e)    Third Party Licenses. On a Licensed Product-by-Licensed Product and country-by-country basis, Horizon shall have the right to deduct from the royalty payment that would otherwise have been due under Section 6.6(a) with respect to Net Sales of such Licensed Product in such country an amount equal to [***] of any [***] paid by Horizon or its Affiliate or Sublicensee to any Third Party (including any [***] under an Alpine Third party Agreement reimbursed by Horizon to Alpine) in consideration for a license or other rights under any Information or Patents owned or controlled by a Third Party that is [***] to Develop, 
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Manufacture, or Commercialize such Licensed Product in such country (including under an Alpine Third Party Agreement pursuant to Section 2.7(b)).
(f)    Royalty Floor. In no event shall the application of Section 6.6(c), Section 6.6(d) and Section 6.6(e) reduce the royalty payable on Net Sales of a Licensed Product in a country in a Calendar Quarter during the Royalty Term to less than [***] of the royalty that would be payable on Net Sales of such Licensed Product in such country determined in accordance with Section 6.6(a) (as reduced by Section 6.6(c), as applicable) without application of any such reductions; provided however that any amounts paid to Third Parties as described in Section 6.6(e) that could not be applied due to application of the royalty floor set forth in this Section 6.6(f) may be carried forward and applied against payments of royalties under Section 6.6(a) owing in respect of such Licensed Product and such country on a Calendar Quarter basis, subject however to the application of the royalty floor in each subsequent Calendar Quarter.
(g)    Royalty Reports and Payments. Within [***] following the end of each Calendar Quarter, commencing with the Calendar Quarter in which the First Commercial Sale of any Licensed Product is made anywhere in the Territory, Horizon shall provide Alpine with a report containing the following information for the applicable Calendar Quarter: (i) [***], (ii) [***] (iii) [***] (iv) [***]. Concurrent with the delivery of the applicable quarterly report, Horizon shall pay in Dollars all amounts due to Alpine pursuant to Section 6.6 in such Calendar Quarter.
6.7    Payments Under Third Party License Agreements. As between the Parties, Alpine shall be solely responsible for any royalties and other payments to Third Parties under any license or other agreement existing as of the Effective Date or entered into during the Term (subject to Section 2.7(b) with regard to any Alpine Third Party Agreement) by Alpine or its Affiliate pursuant to which Alpine gains Control of any Licensed Technology.
6.8    Currency of Payments. Unless otherwise set forth in this Agreement or agreed to by the Parties, all payments under this Agreement shall be made in Dollars by wire transfer of immediately available funds into an account designated by Alpine. Net Sales outside of the U.S. shall be first determined in the currency in which they are earned and shall then be converted into an amount in Dollars using Horizon’s customary and usual conversion procedures used in preparing its financial statements pursuant to GAAP for the applicable reporting period.
6.9    Late Payments. If Alpine does not receive payment of any undisputed sum due to it on or before the due date, Alpine shall provide notice to Horizon of such late payment. If Horizon does not make any payment within [***] following receipt of such notice, then any portions thereof due hereunder which are not paid on the date such payments are due under this Agreement will bear interest at the lesser of (a) [***] or (b) [***], in each case calculated on the number of days such payment is delinquent, [***].
6.10    Records; Audits. Horizon and its Affiliates will, and Horizon will cause each of its Sublicensees, if any, to, maintain complete and accurate records in sufficient detail to confirm the accuracy of the calculation of royalty payments and the achievement of milestone events, for a period of [***] after the Calendar Year in which such sales or events occurred. Upon reasonable prior notice, such records of Horizon and its Affiliates shall be made available during regular business hours for a period of [***] from the end of the Calendar Year to which they pertain for examination, and not more often than once each Calendar Year (unless there is a just cause for an additional examination based upon results of the earlier audit during such Calendar Year), by an independent certified public accountant selected by Alpine and reasonably 
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acceptable to Horizon, for the sole purpose of and only to the extent necessary for verifying the accuracy of the financial reports furnished by Horizon pursuant to this Article 6. Such independent accountant shall disclose to Alpine only the amounts that such independent accountant believes to be due and payable hereunder to Alpine, details concerning any discrepancy from the amount paid and the amount due, and shall disclose no other information revealed in such audit. The records for any particular Calendar Year shall only be subject to [***] audit hereunder. Any and all records examined by such independent accountant shall be deemed Horizon’s Confidential Information which may not be disclosed by such independent accountant to any Third Party, and Horizon may require such independent accountant to enter into an appropriate written agreement obligating it to be bound by obligations of confidentiality and restrictions on use of such Confidential Information that are no less protective than those set forth in Article 10. If, as a result of any inspection of the books and records of Horizon, it is shown that payments under this Agreement were less than the amount which should have been paid, then Horizon shall make all payments required to be made from the original due date to eliminate any discrepancy revealed by such inspection within [***] of such finding. If, as a result of any inspection of the books and records of Horizon, it is shown that payments under this Agreement were more than the amount which should have been paid, then Alpine shall, at Horizon’s election, either make all payments required to be made to eliminate any discrepancy revealed by such inspection within [***] of such finding or credit such amounts to Horizon against future payments. Alpine shall pay for such audits, except that in the event that the audited amounts were underpaid by Horizon by more than [***] of the undisputed amounts that should have been paid during the period in question as per the audit, Horizon shall pay the costs of the audit.
6.11    Taxes.
(a)    Taxes on Income. Each Party shall be solely responsible for the payment of all taxes imposed on its share of income arising directly or indirectly from the efforts of the Parties under this Agreement.
(b)    VAT on Payments. All payments due under this Agreement are exclusive of VAT. If any VAT is chargeable in respect of amounts payable pursuant to this Agreement, VAT shall be charged at the applicable rate required by applicable Law and the party making such payment shall pay the VAT amount on receipt of a VAT invoice in the appropriate form.
(c)    Withholding Tax; Cooperation. The Parties agree to cooperate with one another and use reasonable efforts to reduce or eliminate tax withholding or similar obligations in respect of royalties, milestone payments, and other payments made by Horizon to Alpine under this Agreement. To the extent Horizon is required under the Code, or any other tax Laws to deduct and withhold taxes on any payment to Alpine, Horizon shall pay the amounts of such taxes to the proper Governmental Authority in a timely manner and promptly transmit to Alpine an official tax certificate or other reasonable evidence of such withholding. If any taxes are so deducted or withheld, such deducted or withheld amounts shall be treated for all purposes of this Agreement as having been paid to Alpine. Upon Horizon’s reasonable request, Alpine shall provide Horizon any tax forms (including a United States tax “residency certificate”, Internal Revenue Service Form W-8BEN or W-8ECI or other applicable Internal Revenue Service Form) that may be reasonably necessary in order for Horizon to determine whether to withhold tax on any such payments or to withhold tax on such payments at a reduced rate under the Code or any other tax Laws, including any applicable bilateral income tax treaty. Horizon shall give reasonable support so that any withholding tax or value added tax may be minimized or avoided to the extent permitted under the applicable Laws and treaties. Each Party shall provide the other with reasonable assistance to enable the recovery, as permitted by applicable Laws, of 
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withholding taxes, value added taxes, or similar obligations resulting from payments made under this Agreement, such recovery to be for the benefit of the Party bearing such withholding tax or value added tax. Horizon shall require its Sublicensees in the Territory to cooperate with Alpine in a manner consistent with this Section 6.11(c). Notwithstanding the foregoing, (i) if Horizon assigns or transfers this Agreement or its rights and obligations thereunder or changes its jurisdiction of tax residency, and such transfer, assignment or change increases the amount of taxes required to be deducted or withheld from or paid with respect to the payments to Alpine contemplated by this Agreement, Horizon and its assignee or transferee shall pay Alpine an additional amount such that Alpine shall receive, on an after-tax basis, the same amount it would have received had no such transfer or assignment been made; or (ii) if Alpine assigns or transfers this Agreement or its rights and obligations thereunder or changes its jurisdiction of tax residency, and such transfer, assignment or change increases the amount of taxes required to be deducted or withheld from or paid with respect to the payments to Alpine contemplated by this Agreement, then any amount payable to Alpine or its assignee or transferee under this Agreement shall be limited to the amount that would have been payable to Alpine had no such assignment, transfer or change occurred. On or prior to the Effective Date, Alpine shall deliver to Horizon a valid exemption certificate issued by the German Federal Tax Office.
ARTICLE 7
INTELLECTUAL PROPERTY 
7.1    Ownership.
(a)    Background Rights. Each Party shall retain all right, title and interest in and to any Information or Patents Controlled by such Party or its Affiliate as of the Effective Date, or which becomes Controlled by such Party or its Affiliate after the Effective Date and independently of this Agreement, subject to any licenses granted herein with respect to any such intellectual property that is Licensed Technology.
(b)    Existing Program IP. 
(i)    Inventorship. The determination of inventorship of inventions, Information or Patents conceived, reduced to practice, discovered, developed or otherwise made solely or jointly by or on behalf of such Party or its Affiliates during the course of, arising out of or as a result of activities performed pursuant to the Existing Program or with respect to Licensed Existing Program Compounds or Licensed Existing Program Products as contemplated by this Agreement, whether or not patented or patentable (“Existing Program IP”), and whether Existing Program IP is conceived, reduced to practice, discovered, developed or otherwise made solely by a Party or jointly with the other Party for the purpose of allocating proprietary rights (including Patent, copyright or other intellectual property rights) therein, shall, for purposes of this Agreement, be made in accordance with the United States patent law and other applicable Law in the United States irrespective of where such conception, reduction to practice, discovery, development or making occurs.
(ii)    Sole Program IP. As between the Parties, each Party shall solely own and retain all right, title, and interest in and to any and all Existing Program IP that is conceived, reduced to practice, discovered, developed or otherwise made solely by or on behalf of such Party or its Affiliate (“Sole Program IP”), including all Patents claiming such Sole Program IP (“Sole Program Patents”). [***] Alpine’s rights in any Sole Program IP and Joint Program IP (as defined below) would be included in the Licensed Technology and subject to the licenses granted to Horizon under this Agreement.  
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(iii)    Joint Program IP. As between the Parties, all right, title, and interest in and to any and all Existing Program IP that is conceived, reduced to practice, discovered, developed or otherwise made jointly by or on behalf of Horizon or its Affiliates on the one hand, and Alpine or its Affiliates on the other hand (“Joint Program IP”), including all Patents claiming such Joint Program IP (“Joint Program Patents”), shall be owned jointly by the Parties, with each Party owning an equal, undivided interest in and to such Joint Program IP. Subject to the license grants set forth in Sections 2.1 and 2.2 and to Alpine’s obligations under Section 2.8, each Party shall have the right to exploit the Joint Program IP without a duty of seeking consent from or accounting to the other Party. 
(iv)    Assignment. Each Party shall cause any Person that performs activities for such Party under this Agreement to be under an obligation to assign (or, if such Party is unable to cause such Person to agree to such assignment obligation despite such Party’s using commercially reasonable efforts to negotiate such assignment obligation, provide a license under) their rights in any Existing Program IP to such Party, except where applicable Law requires otherwise and except in the case of governmental, not-for-profit and public institutions which have standard policies against such an assignment (in which case a suitable license, or right to obtain such a license, shall be obtained).
(c)    Research Program IP. 
(i)    Inventorship. The determination of inventorship of inventions, Information or Patents conceived, reduced to practice, discovered, developed or otherwise made solely or jointly by or on behalf of the Parties or its Affiliates during the course of, arising out of or as a result of activities performed pursuant to the Research Program or with respect to Research Program Compounds or Research Program Products as contemplated by this Agreement, whether or not patented or patentable (“Research Program IP”), and whether Research Program IP is conceived, reduced to practice, discovered, developed or otherwise made solely by a Party or jointly with the other Party for the purpose of allocating proprietary rights (including Patent, copyright or other intellectual property rights) therein, shall, for purposes of this Agreement, be made in accordance with the United States patent law and other applicable Law in the United States irrespective of where such conception, reduction to practice, discovery, development or making occurs.  [***].
(ii)    Ownership. [***].  
(iii)    [***].
(iv)    [***].
(v)    [***].
7.2    Patent Prosecution.  
(a)    Licensed Patents and Horizon Sole Program Patents.
(i)    Horizon Controlled Patents. As between the Parties, subject to this Section 7.2(a), [***].
(ii)    Cooperation. [***].
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(iii)    Back-Up Rights. If Horizon intends to allow any such Horizon Controlled Patent to lapse or become abandoned in any jurisdiction in the Territory, Horizon shall notify Alpine at least [***] in advance of such lapse or abandonment, [***] Upon such assumption, Alpine shall control the Prosecution and Maintenance of such Horizon Controlled Patent pursuant to the terms and conditions set forth in Section 7.2(a)(i) above, mutatis mutandis, using counsel of its choice at its cost and expense. 
(iv)    Alpine Controlled Patents. As between the Parties, subject to this Section 7.2(a)(iv), [***].
(v)    [***].
(vi)    Joint Patent Committee.  The Parties shall form a committee comprised of one (1) or two (2) representatives of each Party (as determined by mutual written agreement of the Parties), which committee shall meet [***] or at other regular intervals as determined by such committee, to discuss strategy [***] The committee will use [***] to make all decisions by consensus.  Actions to be taken by the committee shall be taken only following unanimous vote, with Alpine’s representatives collectively having one (1) vote and Horizon’s representatives collectively having one (1) vote.  If the committee fails to reach agreement on a matter before it, either Party may submit such matter for resolution to the Parties’ executive officers in accordance with the provisions of Section 12.1(c). If the executive officers fail to reach agreement on a matter before them, then [***].
(vii)    Other Horizon Patents. [***].
(viii)    Cooperation. Each Party shall provide the other Party all reasonable assistance and cooperation, at the other Party’s request and expense, in the Prosecution and Maintenance of Patents as set forth in this Section 7.2, including providing any necessary powers of attorney and executing any other required documents or instruments for such prosecution. Each Party shall execute and deliver to the other assignments with respect to any Patents in a mutually agreeable form and will take whatever actions reasonably necessary (including the appointment of the other Party as its attorney in fact solely to make such assignment) to effect such assignment, in accordance with the ownership provisions provided above in Section 7.1(b). The prosecuting Party under this Section 7.2 agrees to conduct such Prosecution and Maintenance activities toward the objective of optimizing overall patent protection for Licensed Existing Program Compounds and Licensed Existing Program Products.
(b)    Research Program Patents.  [***].
7.3    Patent Enforcement.  
(a)    Licensed Patents and Horizon Sole Program Patents.
(i)    Notification. If either Party (i) becomes aware of any alleged or threatened infringement of any Licensed Patents, Joint Program Patents or Sole Program Patents by a Third Party in the Territory based on the development, commercialization or exploitation of, or an application to register or market, a product containing a Licensed Existing Program Compound or any Licensed Existing Program Product in the Territory, or (ii) receives notice alleging that a Third Party’s manufacture, use, or sale of the product containing a Licensed Existing Program Compound or any Licensed Existing Program Product does not infringe any Licensed Patent, Joint Program Patent, or Sole Program Patent, or that such Patent is invalid or unenforceable (including submitting an application to the FDA that constitutes an act of 
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infringement under 35 U.S.C. § 271(e)(2) or comparable application under applicable Law) (each, a “Product Infringement”), it shall promptly notify the other Party in writing to that effect and the Parties will consult with each other regarding any actions to be taken with respect to such Product Infringement. Each Party shall share with the other Party all Information available to it regarding such alleged Product Infringement.
(ii)    Enforcement Rights.
(1)    Horizon Controlled Patents.
a.    Horizon’s First Right to Enforce. As between the Parties, Horizon shall have the first right, but not the obligation, to bring a suit or other action against any Person engaged in a Product Infringement of, or any other action or proceeding regarding alleged or threatened infringement or claim of invalidity or unenforceability of, any Horizon Controlled Patent to defend against any challenge to any of the foregoing, at Horizon’s cost and expense. Horizon shall keep Alpine regularly informed of the status and progress of such enforcement or defense efforts, shall reasonably consider Alpine’s comments on any such efforts, including determination of litigation strategy and filing of material papers to the competent court. Alpine shall provide Horizon reasonable assistance in such enforcement or defense pursuant to this Section 7.3(a)(ii)(1)a, at Horizon’s request and expense, including joining such action as a party plaintiff if required by applicable Laws to pursue such action. In addition, [***] Alpine shall be entitled to separate representation in such matter by counsel of its own choice and at its own expense.
b.    Alpine’s Step-In Right to Enforce. If (A) Horizon elects not to commence a suit to enforce any Horizon Controlled Patent that Horizon has the first right to enforce against any Person pursuant to Section 7.3(a)(ii)(1)a, or settle or otherwise secure the abatement of such infringement or not to defend against any challenge to any of the Horizon Controlled Patent, or (B) Horizon fails to commence such suit within [***] (or such shorter period necessary to initiate and maintain such action) of a request by Alpine to do so, then, [***] Alpine shall have the right, but not the obligation, to commence a suit or take action to enforce such Horizon Controlled Patent against such infringement in the Territory or to defend against such challenge, at Alpine’s cost and expense. In such event and to the extent time permits, promptly after Horizon’s notice to Alpine that it does not elect to enforce such Horizon Controlled Patent or to defend against such challenge, the Parties shall meet to discuss in good faith the strategy for enforcing such Horizon Controlled Patent or defending against such challenge. Alpine shall keep Horizon regularly informed of the status and progress of such enforcement or defense efforts, shall reasonably consider Horizon’s comments on any such efforts, including determination of litigation strategy and filing of material papers to the competent court. [***] Horizon shall be entitled to separate representation in such matter by counsel of its own choice and at its own expense.
(2)    Alpine’s Sole Right to Enforce Alpine Controlled Patents. As between the Parties, Alpine shall have the sole right, but not the obligation, to bring a suit or other action against any Person engaged in any action or proceeding regarding alleged or threatened infringement or claim of invalidity or unenforceability of Alpine Controlled Patents or to defend against any challenge to any of the foregoing, at Alpine’s cost and expense. Alpine shall keep Horizon regularly informed of the status and progress of such enforcement or defense efforts, [***].
(b)    Research Program Patents.  As between the Parties, [***]. 
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(c)    Biosimilar Applications. If either Party receives a copy of an application submitted to the FDA under subsection (k) of Section 351 of the PHSA or any subsequent or superseding Law, statute or regulation naming a Licensed Product as a reference product (a “Biosimilar Application”) or otherwise becomes aware that such a Biosimilar Application has been filed (such as in an instance described in Section 351(l)(9)(C) of the PHSA), either Party shall, within [***] of receipt of such Biosimilar Application or becoming aware that such Biosimilar Application has been filed, notify the other Party so that the other Party may seek permission to view the application and related confidential information from the filer of the Biosimilar Application under Section 351(l)(1)(B)(iii) of the PHSA to the extent Section 351(l)(1)(B)(iii) of the PHSA applies to such other Party. If either Party receives any equivalent Biosimilar Application or otherwise becomes aware that such an equivalent Biosimilar Application has been filed in any other jurisdiction in the Territory, either Party shall, within [***] of receipt of such Biosimilar Application or becoming aware that such Biosimilar Application has been filed, notify the other Party. [***]. 
(d)    Cooperation. If a Party brings any suit, action or proceeding under this Section 7.3, the non-enforcing Party shall agree to be joined as party plaintiff if required for the enforcing Party to bring any such suit, action or proceeding, at the cost and expense of the enforcing Party. The non-enforcing Party will provide reasonable assistance to the enforcing Party, including by providing access to relevant documents and other evidence and making its employees available, subject to the enforcing Party’s reimbursement of any costs and expenses incurred by the non-enforcing Party in providing such assistance. 
(e)    Expenses and Recoveries. The enforcing Party bringing a claim, suit or action under this Section 7.3 shall be solely responsible for any expenses incurred by such Party as a result of such claim, suit or action. If such Party recovers monetary damages in such claim, suit or action, such recovery shall first be allocated to the reimbursement of any expenses, including attorneys’ fees, incurred by the Parties in such litigation (including, for this purpose, a reasonable allocation of expenses of internal counsel). If such recovery is insufficient to cover all such costs and expenses of both Parties, it shall be shared in proportion to the total of such costs and expenses incurred by each Party. If after such reimbursement any amounts remain from such damages or other sums recovered, such remaining amounts shall be [***]; provided that, [***]. 
(f)    Settlement. The enforcing Party shall not enter into any settlement or compromise of any suit, action or proceeding pursuant to Section 7.3 (other than pursuant to Section 7.3(g)), (i) in a manner that would diminish the rights or interests of the non-enforcing Party or admit the invalidity or unenforceability of any Patent Controlled by the non-enforcing Party without the prior written consent of the non-enforcing Party, such consent not to be unreasonably withheld; or (ii) that would impose any cost or liability on the non-enforcing Party, without the non-enforcing’s Party’s prior written consent, at the non-enforcing Party’s sole discretion. 
(g)    Other Infringement of Patents. For any and all infringement of any Sole Program Patent other than as provided elsewhere in this Section 7.3, (i) Alpine shall have the sole right, but not the obligation, to bring an appropriate suit or other action against any person or entity engaged in such other infringement of any such Sole Program Patent owned by Alpine that is not a Horizon Controlled Patent or Alpine Controlled Patent, in its sole discretion, and shall bear all related expenses and retain all related recoveries and (ii) Horizon shall have the sole right, but not the obligation, to bring an appropriate suit or other action against any person or entity engaged in infringement of any Sole Program Patent owned by Horizon or any other Patents owned or Controlled by Horizon that relate to any Licensed Compound or Licensed Product, in its sole discretion, and shall bear all related expenses and retain all related recoveries, 
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and the other Party shall provide reasonable assistance and cooperation as set forth in Section 7.3(d), in such enforcement action, including joining such action as a party plaintiff if required by applicable Laws to pursue such action, at the request and expense of the Party bringing the suit or action.  
7.4    Infringement of Third Party Rights. If any Licensed Compound or Licensed Product used or sold by Horizon, its Affiliates or Sublicensees becomes the subject of a Third Party’s claim or assertion of infringement of a Patent within the Territory, Horizon shall promptly notify Alpine and the Parties shall agree on and enter into a “common interest agreement” wherein the Parties agree to their shared, mutual interest in the outcome of such potential dispute, and thereafter, the Parties shall promptly meet to consider the claim or assertion and the appropriate course of action. Horizon shall be solely responsible for the defense of any such infringement claims (provided that Horizon shall provide to Alpine the ability to join such action, at Alpine’s request and expense) to pursue such action in which a Patent asserted by a Third Party under this Section 7.4, claims (a) the composition of matter or use, sale, offer for sale, or importation in the Field of any Licensed Compound or Licensed Product or (b) the manufacture of any such Licensed Compound or Licensed Product using the process employed by Alpine as of the Effective Date (any such patent, “Subject Patent”). To the extent related to the Subject Patent, [***].
7.5    Patent Term Extension. In the event Horizon desires to seek a patent term extension (including any pediatric exclusivity extensions as may be available) or supplemental protection certificate or their equivalents in any country for any Licensed Patent or Joint Program Patent, then the Parties shall meet and discuss such request in good faith, provided that [***]
7.6    Regulatory Data Protection. To the extent required by or permitted by Law, Horizon will, at its sole discretion, decide (with a primary goal of optimizing Regulatory Exclusivity for Licensed Compounds and Licensed Products) whether to list with the applicable Regulatory Authorities during the Term any applicable Horizon Controlled Patent claiming any Licensed Compound or Licensed Product that Horizon intends to, or has begun to, Commercialize, and that has become the subject of a Regulatory Approval Application submitted to the FDA. Such listings may include all so called “Purple Book” listings required under the Hatch-Waxman Act or listing of Patents as provided in the patent dispute resolution procedures of the Biologics Price Competition and Innovation Act of 2009 or under Section 351(l) of the PHSA or similar provisions in the Territory during the Term. 
ARTICLE 8
REPRESENTATIONS AND WARRANTIES; COVENANTS; DISCLAIMERS
8.1    Mutual Representations and Warranties. Each Party hereby represents and warrants to the other Party as follows:
(a)    as of the Effective Date, it is a corporation duly organized, validly existing, and in good standing under the Laws of the jurisdiction in which it is incorporated; and
(b)    as of the Effective Date, (i) it has the corporate power and authority and the legal right to enter into this Agreement and perform its obligations hereunder; (ii) it has taken all necessary corporate action on its part required to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; and (iii) this Agreement has been duly executed and delivered on behalf of such Party, and constitutes a legal, valid, and binding obligation of such Party that is enforceable against it in accordance with its terms.
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8.2    Additional Representations and Warranties of Alpine. Alpine represents and warrants to Horizon, as of the Effective Date, as follows:
(a)    Alpine has (i) the right under the Licensed Technology to grant the licenses to Horizon as purported to be granted pursuant to this Agreement, (ii) sufficient legal or beneficial title in the Licensed Technology to grant the licenses to Horizon as purported to be granted pursuant to this Agreement, and (iii) [***];
(b)    there are no license or other agreements with any Third Party to which Alpine or any of its Affiliate is a party regarding the [***] of (i) any Licensed Know-How or (ii) other Information Controlled by Alpine or its Affiliates as of the Effective Date, in each case, contemplated to be provided by Alpine to Horizon hereunder, as to which the absence of rights under such license or other agreement would be [***] Horizon’s ability to (x) [***], or (y) Develop, Manufacture, Commercialize, make, have made, use, sell, offer for sale, import and otherwise exploit Licensed Compounds and Licensed Products in the Field in the Territory;
(c)    Alpine owns all right, title, and interest in the Patents listed on Exhibit H and such listed Patents represent all Patents owned or otherwise Controlled by Alpine that relate to Licensed Know-How or the exploitation thereof under this Agreement, as such activities are contemplated as of the Effective Date;
(d)    to its Knowledge, neither Alpine nor any of its Affiliates owns or has any other rights (by license, sublicense or otherwise) to any (i) [***], other than the Licensed Compounds, or (ii) under any Information, Patents or other intellectual property rights that are [***] for the Development, Manufacturing, Commercialization, use, sale, offer for sale, importation or other exploitation of any Licensed Existing Program Compound (including as incorporated into a Licensed Existing Program Product) in the Field, other than the Licensed Technology;
(e)    [***];
(f)    [***];
(g)    [***];
(h)    [***];
(i)    [***];
(j)    [***];
(k)    [***];
(l)    [***];
(m)    [***];
(n)    [***];
(o)    [***];
(p)    to its Knowledge, Alpine has provided to Horizon [***]; and
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(q)    [***].
8.3    Mutual Covenants.
(a)    No Debarment. In the course of the Development of Licensed Compounds and Licensed Products or the conduct of the Research Programs, each Party shall not knowingly use any employee or consultant who has ever been debarred or is the subject of debarment or convicted of a crime for which an entity or person could be debarred (including by the FDA under 21 U.S.C. § 335a (or subject to a similar sanction of any other Governmental Authority)). Each Party shall notify the other Party promptly upon becoming aware that any of its employees or consultants has been debarred or is the subject of debarment proceedings by any Regulatory Authority.
(b)    Compliance. Each Party and its Affiliates shall comply in all material respects with all applicable Laws in the Development, Manufacture, and Commercialization of Licensed Compounds and Licensed Products and the conduct of the Research Programs performed under this Agreement, including the statutes, regulations and written directives of the FDA, the EMA and any Regulatory Authority having jurisdiction in the Territory, the FD&C Act, the Prescription Drug Marketing Act, the Federal Health Care Programs Anti-Kickback Law, 42 U.S.C. §§ 1320a-7b(b), the statutes, regulations and written directives of Medicare, Medicaid and all other health care programs, as defined in 42 U.S.C. §§ 1320a-7b(f), and the Foreign Corrupt Practices Act of 1977, each as may be amended from time to time.
8.4    Additional Covenants.
(a)    Alpine represents and warrants to and covenants with Horizon during the Term that all of Alpine’s employees and officers involved in research and development of the Licensed Technology, Research Program IP, Licensed Compounds, or Licensed Products shall be obligated to assign to Alpine all inventions relating to such Licensed Technology, Research Program IP, Licensed Compounds, or Licensed Products and to maintain as confidential the Confidential Information of Alpine;
(b)    Horizon represents and warrants to and covenants with Alpine that during the Term all of Horizon’s employees and officers involved in Development of the Licensed Compounds or the Licensed Products shall be obligated to assign to Horizon all inventions relating to such Licensed Compounds or the Licensed Products and to maintain as confidential the Confidential Information of Horizon; and
(c)    Alpine represents and warrants to and covenants with Horizon that during the Term Alpine shall not (i) sell, assign or otherwise transfer the Licensed Technology to any Third Party, except to the extent permitted by, and in compliance with, a transaction permitted by Section 12.6, or (ii) grant to any Third Party any right or license under the Licensed Technology that conflicts with the rights and licenses granted to Horizon hereunder.
8.5    Disclaimer. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, NO REPRESENTATIONS OR WARRANTIES WHATSOEVER, WHETHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR NON-MISAPPROPRIATION OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS, ARE MADE OR GIVEN BY OR ON BEHALF OF A PARTY, AND ALL REPRESENTATIONS AND WARRANTIES, WHETHER ARISING BY OPERATION OF LAW OR OTHERWISE, ARE HEREBY EXPRESSLY EXCLUDED. Without limiting the generality of the foregoing, (a) neither Party 
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represents or warrants as to the success of any study or test conducted by such Party pursuant to this Agreement or the safety or usefulness for any purpose of the technology, right or materials it provides hereunder, or that either Party will be successful in obtaining any patent rights, or that any patents will issue based on a pending application; and (b) each Party specifically disclaims any guarantee that the Licensed Compounds or Licensed Products will be successful, in whole or in part.
ARTICLE 9
INDEMNIFICATION
9.1    Indemnification by Alpine. Alpine shall defend, indemnify, and hold Horizon and its Affiliates and their respective officers, directors, employees, and agents (the “Horizon Indemnitees”) harmless from and against any and all Third Party claims, suits, proceedings, damages, expenses (including court costs and reasonable attorneys’ fees and expenses) and recoveries (collectively, “Claims”) to the extent that such Claims arise out of, are based on, or result from (a) the performance by or on behalf of Alpine or its Affiliates of any obligations of Alpine with respect to Licensed Compounds or Licensed Products (only as to the Licensed Compound contained therein) under this Agreement, including activities conducted pursuant to the Deliverables Plan, (b) the breach of any of Alpine’s obligations under this Agreement, including Alpine’s representations, warranties, and covenants set forth herein, (c) the willful misconduct or negligence of Alpine or its Affiliates in performing under this Agreement, or (d) if applicable, the Development, Manufacture or Commercialization of any Terminated Products by or on behalf of Alpine or its Affiliates or (sub)licensees. The foregoing indemnity obligation shall not apply to the extent that (i) the Horizon Indemnitees fail to comply with the indemnification procedures set forth in Section 9.3 and Alpine’s defense of the relevant Claims is actually prejudiced by such failure, or (ii) any Claim arises from, is based on, or results from any act or omission for which Horizon is obligated to indemnify the Alpine Indemnitees under Section 9.2.
9.2    Indemnification by Horizon. Horizon shall defend, indemnify, and hold Alpine and its Affiliates and their respective officers, directors, employees, and agents (the “Alpine Indemnitees”) harmless from and against any and all Claims to the extent that such Claims arise out of, are based on, or result from (a) the Development, Manufacture or Commercialization of Licensed Compounds or Licensed Products by or on behalf of Horizon or its Affiliates or Sublicensees, (b) the breach of any of Horizon’s obligations under this Agreement, including Horizon’s representations, warranties, and covenants set forth herein, or (c) the willful misconduct or negligence of Horizon or its Affiliates in performing under this Agreement. The foregoing indemnity obligation shall not apply to the extent that (i) the Alpine Indemnitees fail to comply with the indemnification procedures set forth in Section 9.3 and Horizon’s defense of the relevant Claims is actually prejudiced by such failure, or (ii) any Claim arises from, is based on, or results from any act or omission for which Alpine is obligated to indemnify the Horizon Indemnitees under Section 9.1.
9.3    Indemnification Procedures. The Party claiming indemnity under this Article 9 (the “Indemnified Party”) shall give written notice to the Party from whom indemnity is being sought (the “Indemnifying Party”) promptly after learning of such Claim. The Indemnified Party shall provide the Indemnifying Party with reasonable assistance, at the Indemnifying Party’s expense, in connection with the defense of the Claim for which indemnity is being sought and, if the Indemnifying Party has failed to assume defense of such Claim within the time period required by Law to respond to any such Claim and the Indemnified Party has thereafter assumed and is conducting the defense of the Claim, the Indemnifying Party shall provide the Indemnified Party with reasonable assistance, at the Indemnifying Party’s expense, in connection with the 
35

defense of the Claim for which the indemnity is being sought. The Indemnified Party may participate in and monitor such defense with counsel of its own choosing at its sole expense; provided, however, the Indemnifying Party shall have the right to assume and conduct the defense of the Claim with counsel of its choice. The Indemnifying Party shall not settle any Claim without the prior written consent of the Indemnified Party, not to be unreasonably withheld, conditioned or delayed. For clarity, the Indemnified Party may freely withhold its consent to a settlement of a claim with respect to Claims if (a) such settlement does not include a complete release from liability of the Indemnified Party or if such settlement would involve undertaking an obligation (including the payment of money by an Indemnified Party), (b) would bind or impair the Indemnified Party or (c) includes any admission of wrongdoing or that any intellectual property or proprietary right of the Indemnified Party or this Agreement is invalid, narrowed in scope or unenforceable. So long as the Indemnifying Party is actively defending the Claim in good faith, the Indemnified Party shall not settle or compromise any such Claim without the prior written consent of the Indemnifying Party. If the Indemnifying Party does not assume and conduct the defense of the Claim as provided above, (i) the Indemnified Party may defend against, consent to the entry of any judgment, or enter into any settlement with respect to such Claim in any manner the Indemnified Party may deem reasonably appropriate (and the Indemnified Party need not consult with, or obtain any consent from, the Indemnifying Party in connection therewith), and (ii) the Indemnifying Party shall remain responsible to indemnify the Indemnified Party as provided in this Article 9.
9.4    Limitation of Liability. EXCEPT WITH RESPECT TO ANY DAMAGES AVAILABLE FOR A PARTY’S BREACH OF CONFIDENTIALITY OBLIGATIONS IN ARTICLE 10 OR ITS OBLIGATIONS IN SECTION 2.8, AND WITHOUT LIMITING OR RESTRICTING THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF ANY PARTY UNDER SECTION 9.1 OR 9.2, NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, OR INDIRECT DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. 
9.5    Insurance. Each Party shall procure and maintain insurance adequate to cover its obligations hereunder during the Term and consistent with normal business practices of companies similarly situated. It is understood that such insurance shall not be construed to create a limit of either Party’s liability with respect to its indemnification obligations under this Article 9. Each Party shall provide the other Party with written evidence of such insurance upon request.
ARTICLE 10
CONFIDENTIALITY
10.1    Confidentiality. Each Party agrees that, during the Term and for a period of [***] thereafter, it shall keep confidential and shall not publish or otherwise disclose and shall not use for any purpose other than as provided for in this Agreement (which includes the exercise of any rights or the performance of any obligations hereunder) any Confidential Information furnished to it by the other Party pursuant to this Agreement, except to the extent expressly authorized by this Agreement or otherwise agreed in writing by the Parties. Each Party will use at least the same standard of care as it uses to protect proprietary or confidential information of its own (but no less than reasonable care) to ensure that its employees, agents, consultants, contractors, Sublicensees and other representatives do not disclose or make any unauthorized use of the Confidential Information of the other Party. Each Party will promptly notify the other upon discovery of any unauthorized use or disclosure of the Confidential Information of the other Party. The foregoing confidentiality and non-use obligations shall not apply to any portion of the 
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other Party’s Confidential Information that the receiving Party can demonstrate by competent written proof:
(a)    was already known to the receiving Party or any of its Affiliates, other than by previous confidential disclosure by or on behalf of the disclosing Party or any of its Affiliates, at the time of disclosure by the other Party (provided that this exception shall not apply to Alpine with respect to any Research Program IP);
(b)    was generally available to the public or otherwise part of the public domain at the time of its disclosure to the receiving Party;
(c)    becomes generally available to the public or otherwise part of the public domain after its disclosure as contemplated by this Agreement and other than through any act or omission of the receiving Party in breach of this Agreement;
(d)    was disclosed to the receiving Party or any of its Affiliates on a non-confidential basis by a Third Party who, to the actual or constructive knowledge of the receiving Party, had no obligation of confidentiality to the other Party; or
(e)    was independently discovered or developed by the employees, subcontractors, consultants or agents of the receiving Party or any of its Affiliates without use of or reference to the other Party’s Confidential Information, as evidenced by a contemporaneous writing.
10.2    Authorized Disclosure. Notwithstanding the obligations set forth in Section 10.1, a Party may disclose the other Party’s Confidential Information and the terms of this Agreement to the extent:
(a)    such disclosure is reasonably necessary (i) to comply with the requirements of Regulatory Authorities with respect to obtaining and maintaining Regulatory Approval of a Licensed Product; or (ii) for prosecuting or defending litigation as contemplated by this Agreement;
(b)    such disclosure is reasonably necessary to its employees, agents, consultants, contractors, licensees or Sublicensees on a need-to-know basis for the sole purpose of performing its obligations or exercising its rights under this Agreement; provided that in each case, the disclosees are bound by written obligations of confidentiality and non-use at least as restrictive as those contained in this Agreement;
(c)    such disclosure is reasonably necessary to any bona fide potential or actual investor, acquirer, merger partner, licensee, sublicensee, or other financial or commercial partner for the sole purpose of evaluating an actual or potential investment, acquisition or other business relationship; provided that, in connection with such disclosure, such Party shall inform each disclosee of the confidential nature of such Confidential Information, and the disclosees are bound by written obligations of confidentiality and non-use consistent with those contained in this Agreement; or
(d)    such disclosure is reasonably necessary to comply with applicable Laws, including regulations promulgated by applicable security exchanges, court order, administrative subpoena or order or otherwise necessary for submitting information to the Internal Revenue Service or other Governmental Authority.
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Notwithstanding the foregoing, in the event a Party is required to make a disclosure of the other Party’s Confidential Information pursuant to Section 10.2(a) or 10.2(d), such Party shall promptly notify the other Party of such required disclosure and shall use reasonable efforts to obtain, or to assist the other Party in obtaining, a protective order preventing or limiting the required disclosure. Any information disclosed pursuant to Section 10.2(a) through Section 10.2(d) shall still be deemed Confidential Information and subject to the restrictions set forth in this Agreement, including the foregoing provisions of Article 10.
10.3    Technical Publication. During the Term, [***]. A Party seeking to publish a publication containing Confidential Information of the other Party (including any joint Confidential Information) shall provide the other Party the opportunity to review and comment on such proposed publication (or where a copy of such publication or presentation is not available at such time, a draft or outline of such publication or description of such presentation) that relates to any Licensed Compound or Licensed Product at least [***] prior to its intended submission for publication. The other Party shall provide the Party seeking publication with its comments in writing, if any, as promptly as practicable after receipt of such proposed publication. The Party seeking publication shall consider in good faith any comments thereto provided by the other Party and shall comply with the other Party’s request to remove any and all of such other Party’s Confidential Information from the proposed publication. In addition, the Party seeking publication shall delay the submission for a period up to [***] in the event that the other Party can demonstrate reasonable need for such delay, including the preparation and filing of a patent application (or, in the case that a Party has a compelling business justification, for a longer period reasonably selected by that Party). Each Party agrees to acknowledge the contributions of the other Party and its employees in all publications as scientifically appropriate.
10.4    Publicity; Terms of Agreement.
(a)    The Parties agree that the terms of this Agreement are the Confidential Information of both Parties, subject to disclosure authorized in this Article 10 and the special authorized disclosure provisions set forth in this Section 10.4.
(b)    Public announcement of the execution of this Agreement shall be made substantially in the form of the joint press release attached hereto as Exhibit K, on or promptly after the Effective Date.
(c)    After release of such joint press release in Exhibit K, if either Party desires to make a public announcement concerning the terms of this Agreement, such Party shall, except as otherwise provided herein, give reasonable prior advance notice of the proposed text of such announcement to the other Party for its prior review and approval (not to be unreasonably withheld, conditioned, or delayed). A Party commenting on such a proposed press release by the other Party shall provide its comments, if any, within [***] after receiving the press release from the other Party. Notwithstanding the foregoing, a Party shall have the right to make a public announcement or press release of the achievement of significant events in Development (including achievement of each milestone event set forth in Sections 6.4(a) and 6.4(b) and Sections 6.5(a) and 6.5(b)) or Commercialization of any Licensed Product in the Territory, even if beyond what may be strictly required by applicable Law and the rules of recognized stock exchanges, to the extent consistent with such Party’s own disclosure practices, subject to prior notice of such public announcement or press release to the other Party. The principles to be observed in such disclosures shall be accuracy, compliance with applicable Law and regulatory guidance documents, reasonable sensitivity to potential negative reactions of applicable Regulatory Authorities and the need to keep investors and others informed regarding the requesting Party’s business, including as required by the rules of recognized stock exchanges. 
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Except as provided in this subsection (c) or permitted under Section 10.2, no press release shall include the other Party’s Confidential Information without the prior written consent of such other Party. In relation to the other Party’s review of such an announcement, such other Party may make specific, reasonable comments on such proposed press release within the prescribed time for commentary. Neither Party shall be required to seek the permission of the other Party to repeat any information regarding the terms of this Agreement that has already been publicly disclosed by such Party, or by the other Party, in accordance with this Section 10.4, provided such information remains accurate as of such time.
(d)    The Parties acknowledge that either or both Parties may be obligated to file a copy of this Agreement and summaries of the terms hereof with the U.S. Securities and Exchange Commission or other Governmental Authority as reasonably required to comply with applicable Laws or the rules of a nationally-recognized securities exchange. Each Party shall be entitled to make such filings, provided that it requests confidential treatment of the commercial terms, sensitive technical terms and other terms of this Agreement that a Party reasonably deems sensitive or competitive to the extent such confidential treatment is reasonably available to such Party; provided that the foregoing obligation to request confidential treatment shall not apply with respect to any disclosure of this Agreement by either Party to the U.S. Internal Revenue Service or similar Governmental Authority outside the U.S. In the event of any such filing, each Party will provide the other Party with a copy of this Agreement and related filings marked to show provisions for which such Party intends to seek confidential treatment and shall reasonably consider and incorporate the other Party’s comments thereon to the extent consistent with the legal requirements and the rules of any nationally recognized securities exchange, with respect to the filing Party, governing disclosure of material agreements and material information to be publicly filed.
10.5    Equitable Relief. Each Party acknowledges that its breach of this Article 10 may cause irreparable harm to the other Party, which cannot be reasonably or adequately compensated in damages in an action at law. By reasons thereof, each Party agrees that the other Party shall be entitled to seek, in addition to any other remedies it may have under this Agreement or otherwise, to obtain preliminary and permanent injunctive and other equitable relief to prevent or curtail any actual or threatened breach of the obligations relating to Confidential Information set forth in this Article 10 by the other Party.
10.6    Attorney-Client Privilege. Neither Party is waiving, nor will be deemed to have waived or diminished, any of its attorney work product protections, attorney-client privileges or similar protections and privileges recognized under the applicable law of any jurisdiction as a result of disclosing information pursuant to this Agreement, or any of its Confidential Information (including Confidential Information related to pending or threatened litigation) to the receiving Party, regardless of whether the disclosing Party has asserted, or is or may be entitled to assert, such privileges and protections. The Parties may become joint defendants in proceedings to which the information covered by such protections and privileges relates and may determine that they share a common legal interest in disclosure between them that is subject to such privileges and protections, and in such event, may enter into a joint defense agreement setting forth, among other things, the foregoing principles, but are not obligated to do so.
ARTICLE 11
TERM AND TERMINATION
11.1    Term. This Agreement shall become effective on the Effective Date and, unless earlier terminated pursuant to this Article 11, shall remain in effect until expiration of the Royalty Term for all Licensed Products in the Territory (the “Term”).  [***].
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11.2    Termination for Convenience. Horizon may terminate this Agreement (a) in its entirety or (b) [***] (a “Program Termination”) at any time and for any reason or for no reason upon delivery of (A) at least [***] prior written notice to Alpine if no [***] has occurred with respect to a Licensed Product and (B) at least [***] prior written notice to Alpine if [***] has occurred with respect to a Licensed Product. 
11.3    Termination for Breach. Each Party (the “Non-Breaching Party”) shall have the right, without prejudice to any other remedies available to it at law or in equity, to terminate this Agreement in its entirety upon written notice to the other Party if the other Party materially breaches its obligations under this Agreement and, after receiving written notice identifying such material breach in reasonable detail, fails to cure such material breach within [***] after receipt of such notice (the “Cure Period”), or if such material breach (excluding any failure to pay any undisputed amounts due hereunder) is not susceptible to cure within the Cure Period, fails to deliver to the Non-Breaching Party within the Cure Period a written plan that is reasonably calculated to resolve such material breach within a specified period (not to exceed [***]) and does not cure such material breach within the period specified in such plan. [***].
11.4    Termination for Patent Challenge. In the event Horizon or any of its Affiliates or Sublicensees challenges under any court action or proceeding, or before any patent office, the validity, patentability, enforceability, or non-infringement of any Licensed Patent, or initiates a reexamination of any Licensed Patent, or assists any Third Party to conduct any of the foregoing activities (each, a “Challenge”), Alpine will have the right to terminate this Agreement in accordance with the following terms. In the event the Challenge is by Horizon or its Affiliate, Alpine may terminate this Agreement within [***] of the Challenge unless Horizon withdraws such Challenge. [***].
11.5    Termination for Insolvency. Each Party shall have the right to terminate this Agreement upon delivery of written notice to the other Party in the event that (a) such other Party files in any court or agency pursuant to any statute or regulation of any jurisdiction a petition in bankruptcy or insolvency or for reorganization or similar arrangement for the benefit of creditors or for the appointment of a receiver or trustee of such other Party or its assets, (b) such other Party is served with an involuntary petition against it in any insolvency proceeding and such involuntary petition has not been stayed or dismissed within [***] of its filing, or (c) such other Party makes an assignment of substantially all of its assets for the benefit of its creditors.
11.6    Consequences of Termination. Upon any termination of this Agreement, except as otherwise set forth in this Section 11.6 and Section 11.7, all licenses and rights granted by either Party under this Agreement shall terminate; [***]. 
(a)    Existing Program Termination.  In the event that this Agreement is terminated by Horizon pursuant to Section 11.2 or by Alpine pursuant to Section 11.3, 11.4 or 11.5 with respect to the Existing Program, Licensed Existing Program Compounds and Licensed Existing Program Products, and Alpine provides written notice to Horizon within [***] after the effective date of such termination, that Alpine wishes to continue development or commercialization with respect to any such Licensed Existing Program Products, (i) clause (b) below shall apply if such termination becomes effective [***] (ii) if clause (i) does not apply, [***].  
(b)    Rights to Licensed Existing Program Product(s).  Only in the event described in Section 11.6(a), the following terms of this Section 11.6(b) shall apply.  
(i)    Regulatory Materials.  [***].
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(ii)    Technology Licenses. [***].
(iii)    Trademarks. [***].
(iv)    Sublicensees.  Subject to Section 2.4(a)(iv), Horizon’s Sublicensees shall continue in effect as a direct license from Alpine to the furthest extent possible.  
(v)    General Assistance.  Horizon agrees to fully cooperate with Alpine and its designee(s) to facilitate a smooth, orderly and prompt transition of the Terminated Product(s) to Alpine or its designee(s).  
(vi)    Costs and Expenses.  [***].
(c)    Research Program Termination.  In the event that this Agreement is terminated with respect to any Research Program(s), Research Program Compounds and Research Program Products, this Section 11.6(c) shall apply.  If such termination was by Horizon pursuant to Section 11.2 or by Alpine pursuant to Section 11.3, 11.4 or 11.5 with respect to such Research Program(s), [***].  Except to the extent the Parties enter into such separate agreement with respect to any Research Program Product(s), if a Research Program Product is Developed or Commercialized by Horizon or any of its Affiliates or Sublicensees, all of Horizon’s payment and other obligations [***] shall continue to apply, including after any termination of this Agreement, except any termination [***].
11.7    Survival. Termination or expiration of this Agreement shall not affect any liabilities of the Parties under this Agreement that have accrued prior to the date of termination or expiration. Notwithstanding anything to the contrary, the following provisions shall survive any expiration or termination of this Agreement: [***]. 
11.8    No Limitation on Remedies. Notwithstanding anything to the contrary in this Agreement, termination or expiration of this Agreement shall not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective date of such termination or expiration nor prejudice either Party’s right to obtain performance of any obligation. Subject to the terms and conditions of this Agreement, each Party shall be free to seek (without restriction as to the number of times it may seek) damages, costs and remedies that may be available at Law or in equity and shall be entitled to offset the amount of any damages and costs obtained in a final, non-appealable judgment (or judgment from which no appeal was taken within the allowable time period) of monetary damages or costs (as permitted by this Agreement) against the other Party against any amounts otherwise due to such other Party under this Agreement.
ARTICLE 12
MISCELLANEOUS
12.1    English Language; Governing Law; Jurisdiction; Disputes. 
(a)    English Language. This Agreement was prepared in the English language, which language shall govern the interpretation of, and any dispute regarding, the terms of this Agreement.
(b)    Governing Law. This Agreement and all disputes arising out of or related to this Agreement or any breach hereof shall be governed by and construed under the laws of the State of New York, U.S., without giving effect to any choice of law principles that would require 
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the application of the laws of a different jurisdiction and excluding the United Nations Conventions on Contracts for the International Sale of Goods. For clarification and notwithstanding Section 12.1(d) below, any dispute relating to the inventorship, scope, validity, enforceability or infringement of any patent right shall be governed by and construed and enforced in accordance with the patent laws of the applicable jurisdiction.
(c)    Disputes. Unless otherwise set forth in this Agreement, in the event of any controversies or claims arising out of, relating to or in connection with any provision of this Agreement (“Dispute”), such Dispute shall be referred to the President of Alpine (or his or her designee) and the Chief Strategy Officer of Horizon (or his or her designee) for good faith negotiations attempting to resolve the Dispute.  
(d)    Arbitration. Should the designated executive officers of the Parties be unable to resolve such Dispute within [***] after such Dispute has first been referred to them, then the Dispute shall be finally settled by binding arbitration by a panel of [***] arbitrators pursuant to the then-current Commercial Arbitration Rules of the American Arbitration Associations (“AAA Rules”), except where they conflict with this Section 12.1(d) shall control.  Each Party shall nominate [***] arbitrator and the [***] Party-nominated arbitrators shall then nominate the [***] arbitrator, who shall serve as the presiding arbitrator, within [***] after the second arbitrator’s appointment.  The arbitrators shall not be [***] and each arbitrator shall have at least [***] of pharmaceutical industry experience.  At the request of a Party, the arbitral tribunal shall have the discretion to order the disclosure of specified documents by the Parties.  Such a request shall identify the document(s) with a reasonable degree of specificity and establish the relevance of the document(s) to the arbitration.   
(i)    Seat; Language.  The seat, or legal place, of arbitration shall be New York City, NY.  The language of the arbitration shall be English.  
(ii)    Relief.  Except as otherwise specifically limited in this Agreement, including Section 9.4, the arbitral tribunal shall have the power to grant any remedy or relief that it deems appropriate, whether provisional or final, including injunctive relief.  Each Party retains the right to apply to any court of competent jurisdiction for interim and/or conservatory measures, including pre-arbitral attachments or preliminary injunctions, and any such request shall not be deemed incompatible with, or a waiver of, this agreement to arbitrate.  The arbitration award shall be final and binding on the Parties, and the Parties undertake to carry out any award without delay.  Judgment on the award may be entered in any court of competent jurisdiction.
(iii)    Costs.  Each Party shall bear its own legal fees.  The arbitrators shall assess their costs, fees and expenses against the Party losing the arbitration unless they believe that neither Party is the clear winner, in which case the arbitrators shall divide such fees, costs and expenses according to their discretion.  The arbitrators, in the arbitrators’ discretion, may award reimbursement of attorney’s fees to the prevailing Party.
(iv)    Confidentiality.  The existence and content of the arbitral proceeding, including any rulings or award, shall be kept confidential by the Parties and the arbitrator except to the extent (A) required by applicable Law; (B) required to protect or pursue a legal right; (C) required to enforce or challenge an award; or (D) approved by written consent of the Parties.  Notwithstanding anything to the contrary herein, either Party may disclose matters relating to the arbitration or the arbitral proceedings where necessary for the preparation or presentation of a claim or defense in such arbitration.  The arbitrators shall issue appropriate protective orders to safeguard each Party’s Confidential Information.
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(v)    Timing.  The hearing shall commence within [***] after the selection of the arbitrators.  The award shall be rendered within [***] of the appointment of the arbitral tribunal, unless the Parties jointly request an extension or the arbitral tribunal determines, in a reasoned decision, that the interest of justice or the complexity of the case requires that such limit be extended.
(vi)    Survivability.  Any duty to arbitrate under this Agreement shall remain in effect and be enforceable after termination of this Agreement for any reason.
(vii)    Patent and Trademark and Other Disputes.  Any dispute, controversy or claim relating to the scope, validity, enforceability or infringement of any Patents or trademarks shall be submitted to a court of competent jurisdiction in the country in which such patent or trademark rights were granted or arose.  Arbitration shall not be applicable to any matter to be decided by the JRC or by Horizon pursuant to its final decision-making authority with respect to matters within the jurisdiction of the JRC.
12.2    Entire Agreement; Amendment. This Agreement, including the Exhibits hereto, and the SPA set forth the complete, final and exclusive agreement and all the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties with respect to the subject matter hereof and supersedes, as of the Effective Date, all prior and contemporaneous agreements and understandings between the Parties with respect to the subject matter hereof, including the Confidentiality Agreement. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties unless reduced to writing and signed by an authorized officer of each Party.
12.3    Force Majeure. Both Parties shall be excused from the performance of their obligations under this Agreement to the extent that such performance is prevented by a Force Majeure and the nonperforming Party promptly provides notice of the prevention to the other Party. Such excuse shall be continued so long as the condition constituting such Force Majeure continues and the nonperforming Party takes reasonable efforts to remove the condition. For purposes of this Agreement, “Force Majeure” means, with respect to a Party, conditions beyond the reasonable control of such Party, including an act of God, war, terrorist act, labor strike or lock-out, epidemic, fire, earthquake, storm, release of radioactive material into the environment, or like catastrophe. Notwithstanding the foregoing, a Party shall not be excused from making payments owed hereunder because of a Force Majeure affecting such Party. If a Force Majeure persists for more than [***], then the Parties will discuss in good faith the modification of the Parties’ obligations under this Agreement in order to mitigate the delays caused by such Force Majeure. Notwithstanding anything to the contrary contained in this Section 12.3, the Parties acknowledge and agree that a COVID-19 pandemic and business disruptions related thereto (collectively, the “COVID Event”) are currently occurring as of the Effective Date and may worsen, and the Parties further acknowledge and agree that, as of the Effective Date, neither the COVID Event, nor any recurrence thereof, shall constitute a Force Majeure.
12.4    Notices. Any notice required or permitted to be given under this Agreement shall be in writing, shall specifically refer to this Agreement, and shall be addressed to the appropriate Party at the address specified below or such other address as may be specified by such Party in writing in accordance with this Section 12.4, and shall be deemed to have been given for all purposes (a) when received, if hand-delivered or sent by confirmed electronic delivery or a reputable courier service, or (b) [***] after mailing, if mailed by first class certified or registered airmail, postage prepaid, return receipt requested.
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If to Alpine:    Alpine Immune Sciences, Inc.
188 E Blaine St. Suite 200 
Seattle, WA 98102 
Attn:  [***]
    Email: [***]
    With a copy to: [***]
With a copy to (which shall not constitute notice): 

    Wilson Sonsini Goodrich & Rosati
    Professional Corporation
    650 Page Mill Road
    Palo Alto, CA  94304-1050
    United States
    Attn: Ian B. Edvalson, Esq.
    Telephone: (650) 493-9300
    Email:  [***]
    
If to Horizon:    Horizon Therapeutics Ireland DAC

70 St. Stephen’s Green
Dublin 2, D02 E2X4, Ireland
Attn: [***]
Telephone: +353 1 772 2100
Email: [***]

With a copy to (which shall not constitute notice):
Horizon Therapeutics USA, Inc.
1 Horizon Way
Deerfield, IL 60015-3888
Attn: [***]
Telephone: 224-383-3000

12.5    No Strict Construction; Headings. This Agreement has been prepared jointly by the Parties and shall not be strictly construed against either Party. Ambiguities, if any, in this Agreement shall not be construed against any Party, irrespective of which Party may be deemed to have authored the ambiguous provision. The headings of each Article and Section in this Agreement have been inserted for convenience of reference only and are not intended to limit or expand on the meaning of the language contained in the particular Article or Section. Except where the context otherwise requires, wherever used, the singular shall include the plural and the plural the singular. The use of any gender shall be applicable to all genders. The word “or” is used in the inclusive sense (and/or) unless the context dictates otherwise because the subjects of the conjunction are mutually exclusive. The term “including” means “including without limitation,” without limiting the generality of any description preceding such term. The term “shall” means “will”. In addition, (a) the words “hereof,” “herein,” “hereby” and derivative or similar words refer to this Agreement (including any Exhibits); (b) provisions that require that a Party or the Parties hereunder “agree,” “consent” or “approve” or the like shall require that such agreement, consent or approval be specific and in writing, whether by written agreement, letter 
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or otherwise; and (c) neither Party or its Affiliates shall be deemed to be acting “on behalf of” or “under authority of” the other Party.
12.6    Assignment. Neither Party may assign or transfer this Agreement or any rights or obligations hereunder without the prior written consent of the other Party, except that a Party may make such an assignment or transfer without the other Party’s consent (i) to an Affiliate (for so long as such entity remains an Affiliate), provided that such assigning Party shall remain responsible for such Affiliate’s conduct or (ii) to a Third Party acquiror or its Affiliate in connection with a Change of Control of such Party (such Third Party, an “Acquiror”). Any successor or assignee of rights or obligations permitted hereunder shall, in writing to the other Party, expressly assume performance of such rights or obligations. Any permitted assignment shall be binding on the successors of the assigning Party. Any assignment or attempted assignment by either Party in violation of the terms of this Section 12.6 shall be null, void and of no legal effect. 
12.7    Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such other reasonable and customary acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 
12.8    Rights in Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by Alpine are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101 of the Bankruptcy Code. The Parties agree that Horizon, as licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the Bankruptcy Code solely applicable to the Licensed Compounds, [***] Licensed Technology, and Alpine Libraries, including without limitation Horizon’s right to retain all licenses to Licensed Technology granted herein. Without limiting the generality of the foregoing, the Parties intend and agree that any sale of Alpine’s assets under Section 363 of the Bankruptcy Code shall be subject to Horizon’s rights under Section 365(n) with respect to such Licensed Technology, that Horizon cannot be compelled to accept a money satisfaction of its interests in Licensed Technology, and that any such sale therefore may not be made to a purchaser “free and clear” of Horizon’s license rights without the consent of Horizon. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against Alpine under the Bankruptcy Code, Horizon shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property solely applicable to the Licensed Compounds, [***] Licensed Technology, and Alpine Libraries and all embodiments of such intellectual property, and the same, if not already in its possession, shall be promptly delivered to them (i) upon any such commencement of a bankruptcy proceeding upon its written request therefor, unless Alpine elects to continue to perform all of its obligations under this Agreement, or (ii) if not delivered under (i) above, following the rejection of this Agreement by or on behalf of Alpine upon written request therefor by Horizon. (The Parties acknowledge and agree that “embodiments” of intellectual property within the meaning of Section 365(n) include without limitation laboratory notebooks, inventory, research studies, data, and regulatory approvals to the extent such items are solely applicable to the Licensed Compounds, [***], Licensed Technology and Alpine Libraries). Additionally, if (a) a case under the Bankruptcy Code is commenced by or against Alpine, (b) this Agreement is rejected as provided in the Bankruptcy Code, and (c) Horizon elects to retain its rights hereunder as provided in Section 365(n) of the Bankruptcy Code, Alpine (in any capacity, including debtor-in-possession) and its successors and assigns (including a trustee) shall not interfere with Horizon’s rights under this Agreement to Licensed Technology (including such embodiments), including any right to obtain such Licensed Technology (or such embodiments) from another entity, to the extent provided in Section 365(n) of the Bankruptcy Code. All rights, powers and remedies of Horizon provided herein are in addition to and not in 
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substitution for any and all other rights, powers and remedies now or hereafter existing at law or in equity (including the Bankruptcy Code) in the event of the commencement of a case under the Bankruptcy Code with respect to Alpine. The Parties agree that they intend the following rights to extend to the maximum extent permitted by law, and to be enforceable under Section 365(n) of the Bankruptcy Code: (I) the right of access to any Licensed Technology (including all embodiments thereof) of Alpine, which is necessary for the development, manufacture, supply, commercialization, sale, import or export of Licensed Compounds or Licensed Products, in any case solely as provided under this Agreement; and (II) the right to contract directly with any Third Party to complete the same.
12.9    Severability. If any one or more of the provisions of this Agreement is held to be invalid or unenforceable by any court of competent jurisdiction from which no appeal can be or is taken, the provision shall be considered severed from this Agreement and shall not serve to invalidate any remaining provisions hereof. The Parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by the Parties when entering this Agreement may be realized.
12.10    No Waiver. Any delay in enforcing a Party’s rights under this Agreement or any waiver as to a particular default or other matter shall not constitute a waiver of such Party’s rights to the future enforcement of its rights under this Agreement, except with respect to an express written and signed waiver (signed by the Party providing such waiver) relating to a particular matter for a particular period of time.
12.11    Independent Contractors. Each Party shall act solely as an independent contractor, and nothing in this Agreement shall be construed to give either Party the power or authority to act for, bind, or commit the other Party in any way. Nothing herein shall be construed to create the relationship of partners, principal and agent, or joint-venture partners between the Parties. No Party shall report this Agreement (and the transactions hereunder) as an entity or partnership for any tax purpose unless required pursuant to a “final determination” in accordance with Section 1313 of the Code.
12.12    No Third Party Beneficiaries. This Agreement is neither expressly nor impliedly made for the benefit of any party other than the Parties and their successors and permitted assigns, except for the Horizon Indemnitees and Alpine Indemnitees expressly entitled to indemnification as provided in Article 9 and only in accordance with the terms of such Article 9.
12.13    Counterparts; Electronic Delivery. This Agreement may be executed in counterparts, by original or PDF signature, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Signatures to this Agreement transmitted by email in “portable document format” (“.pdf”), or by any other electronic means intended to preserve the original graphic and pictorial appearance of this Agreement shall have the same effect as physical delivery of the paper document bearing original signature.
[Signature page follows]

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In Witness Whereof, the Parties have executed this Agreement by their duly authorized officers as of the Effective Date.
						
	Horizon Therapeutics Ireland DAC    

By:  /s/ William D. Gannon    
Name: William D. Gannon    
Title: Director    
	Alpine Immune Sciences, Inc.

By:  /s/ Paul Rickey    
Name: Paul Rickey    
Title: Senior Vice President and Chief Financial Officer    

Exhibit A – Alpine Reserved Sequences
[***]

Exhibit B – Back Up Compound
[***]
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Exhibit C – Deliverables Plan
[***]
 .    

Exhibit D – Deliverables Budget
[***]

Exhibit E – Individuals with Knowledge
[***]

Exhibit F – Lead Compound
[***]

Exhibit G – Licensed Know-How
[***]

Exhibit H – Licensed Patents
[***]

Exhibit I – Research Plan
[***]

Exhibit J – List of Countries for Patent Applications
[***]

Exhibit K – Press Release
[See Attached]Document

Exhibit 10.31

STOCK PURCHASE AGREEMENT
This Stock Purchase Agreement (this “Agreement”) is dated as of December 15, 2021, by and between Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and Horizon Therapeutics Ireland DAC, an Irish company (the “Purchaser”).
RECITALS
The Company and the Purchaser are each executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).  
NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and the Purchaser hereby agree as follows:
ARTICLE I.
DEFINITIONS
1.1    Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms shall have the meanings indicated in this Section 1.1:
“Acquiring Person” has the meaning set forth in Section 4.4.
“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act. 
“Applicable Laws” has the meaning set forth in Section 3.1(qq).
“Agreement” has the meaning set forth in the Preamble.
“Authorizations” has the meaning set forth in Section 3.1(qq).
“Board of Directors” means the board of directors of the Company.
“Business Day” means any day except Saturday, Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.
“Closing” means the closing of the purchase and sale of the Shares pursuant to this Agreement.
“Closing Date” means a Trading Day to be mutually agreed by the Company and the Purchaser (not to be later than 30 days from the date of this Agreement) following the execution and delivery of this Agreement and the License and Collaboration Agreement by the applicable parties thereto and the satisfaction or waiver of all of the conditions set forth in Sections 2.1, 2.2, 5.1 and 5.2 hereof. Subject to the immediately preceding sentence, the Company and the Purchaser agree that the Closing Date will be December 20, 2021.  
“Commission” means the United States Securities and Exchange Commission.
“Common Stock” means the Company’s common stock, par value $0.001 per share, and also includes any other class of securities into which the Common Stock may hereafter be reclassified or changed into.
“Common Stock Equivalents” means any securities of the Company or any Subsidiary which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any 

debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock or other securities that entitle the holder to receive, directly or indirectly, Common Stock.
“Company” has the meaning set forth in the Preamble.
“Company Counsel” means Wilson Sonsini Goodrich & Rosati, Professional Corporation.
“Company Deliverables” has the meaning set forth in Section 2.2(a).
“Control” (including the terms “controlling”, “controlled by” or “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
“DTC” has the meaning set forth in Section 4.1(e).
“Environmental Laws” has the meaning set forth in Section 3.1(dd).
“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations promulgated thereunder.
“FDA” has the meaning set forth in Section 3.1(ll).
“GAAP” means U.S. generally accepted accounting principles, as applied by the Company.
“Health Care Laws” has the meaning set forth in Section 3.1(ll).
“HIPAA” has the meaning set forth in Section 3.1(qq).
“Indemnified Person” has the meaning set forth in Section 4.7.
“Intellectual Property Assets” has the meaning set forth in Section 3.1(p).
“Intellectual Property Rights” has the meaning set forth in Section 3.1(p).
“Investment Company Act” has the meaning set forth in Section 3.1(w).
“Legacy Alpine” has the meaning set forth in Section 3.1(p).
“License and Collaboration Agreement” means that certain License and Collaboration Agreement to be entered into between the Company and the Purchaser on or about the date hereof.
“Material Adverse Effect” has the meaning set forth in Section 3.1(b).
“Money Laundering Laws” has the meaning set forth in Section 3.1(pp).
“New York Courts” means the state and federal courts sitting in the City of New York, Borough of Manhattan.
“OFAC” has the meaning set forth in Section 3.1(kk).
“Off-Balance Sheet Transaction” has the meaning set forth in Section 3.1(gg).
“Outside Date” means the thirtieth day following the date of this Agreement.
“Per Share Purchase Price” means $15.756625 per Share.
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“Permits” has the meaning set forth in Section 3.1(n).
“Person” means an individual, corporation, partnership, limited liability company, trust, business trust, association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any other form of entity not specifically listed herein.
“Principal Trading Market” means the Trading Market on which the Common Stock is primarily listed on and quoted for trading, which, as of the date of this Agreement and the Closing Date, shall be the Nasdaq Global Market.
“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened.
“Purchaser” has the meaning set forth in the Preamble.
“Purchaser Deliverables” has the meaning set forth in Section 2.2(b).
“Purchaser Party” has the meaning set forth in Section 4.7.
“Regulation S-X” has the meaning set forth in Section 3.1(i).
“Regulatory Authorities” has the meaning set forth in Section 3.1(oo).
“Restricted Period” has the meaning set forth in Section 4.1(b).
“Required Approvals” has the meaning set forth in Section 3.1(e).
“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.
“Sarbanes-Oxley Act” has the meaning set forth in Section 3.1(s).
“SEC Reports” has the meaning set forth in Section 3.1(h).
“Secretary’s Certificate” has the meaning set forth in Section 2.2(a)(vii).
“Securities Act” has the meaning set forth in the Recitals.
“Shares” has the meaning set forth in Section 2.1(a).
“Short Sales” include, without limitation, (i) all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against the box, and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and (ii) sales and other transactions through non-U.S. broker dealers or foreign regulated brokers (but shall not be deemed to include the location and/or reservation of borrowable shares of Common Stock).
“Subscription Amount” has the meaning set forth in Section 2.1(a).
“Subsidiaries” means the consolidated subsidiaries of the Company.
“Threshold Amount” means 19.99% of the outstanding shares of Common Stock or the voting power of the Company.
“Trading Affiliate” has the meaning set forth in Section 3.2(i).
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“Trading Day” means (i) a day on which the Common Stock is listed or quoted and traded on its Principal Trading Market (other than the OTC Bulletin Board), or (ii) if the Common Stock is not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as reported in the “pink sheets” by Pink Sheets LLC (or any similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day.
“Trading Market” means whichever of the New York Stock Exchange, the NYSE MKT, the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or the OTC Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question.
“Transfer Agent” means Broadridge Corporate Issuer Solutions, Inc., the current transfer agent of the Company, with a mailing address of 1717 Arch St., Suite 1300 Philadelphia, PA 191036, or any successor transfer agent for the Company.
“Treasury” has the meaning set forth in Section 3.2(q).
“XBRL” has the meaning set forth in Section 3.1(i).
ARTICLE II.
PURCHASE AND SALE
2.1    Closing.
(a)    Amount. Subject to the terms and conditions set forth in this Agreement, at the Closing, the Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, 951,980 shares of Common Stock (the “Shares”) at the Per Share Purchase Price, for aggregate consideration of $14,999,991.87 (the “Subscription Amount”).
(b)    Closing. The Closing of the purchase and sale of the Shares shall take place at the offices of Wilson Sonsini Goodrich & Rosati, Professional Corporation, 701 Fifth Avenue, Suite 5100, Seattle, WA 98104, on the Closing Date or at such other locations or remotely by facsimile transmission or other electronic means as the parties may mutually agree.
(c)    Form of Payment. On the Closing Date, the Purchaser shall deliver, or cause to be delivered to the Company, the Subscription Amount via wire transfer of immediately available funds pursuant to the wire instructions attached hereto as Exhibit A.
2.2    Closing Deliveries. (a) On or prior to the Closing, the Company shall issue, deliver or cause to be delivered to the Purchaser the following (the “Company Deliverables”):
(i)    this Agreement, duly executed by the Company;
(ii)    instructions to the Transfer Agent to deliver to the Purchaser a book-entry statement evidencing the Shares;
(iii)    a certificate of the Secretary of the Company (the “Secretary’s Certificate”), dated as of the Closing Date, (a) certifying the resolutions adopted by the Board of Directors of the Company or a duly authorized committee thereof approving the transactions contemplated by this Agreement and the issuance of the Shares, (b) certifying the current versions of the certificate of incorporation, as amended, and bylaws of the Company and (c) certifying as to the signatures and authority of persons signing this Agreement and related documents on behalf of the Company, in the form attached hereto as Exhibit B;
(iv)    the Compliance Certificate referred to in Section 5.1(i);
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(v)    a certificate evidencing the good standing of the Company issued by the Secretary of State of the State of Delaware, as of a date within five (5) Business Days of the Closing Date;
(vi)    a certificate of existence and authorization issued by the Secretary of State of the State of Washington, as of a date within five (5) Business Days of the Closing Date; and
(vii)    a certified copy of the Certificate of Incorporation of the Company, as certified by the Secretary of State of the State of Delaware, as of a date within five (5) Business Days of the Closing Date.
(b)    On or prior to the Closing, the Purchaser shall deliver or cause to be delivered to the Company the following (the “Purchaser Deliverables”):
(i)    this Agreement, duly executed by the Purchaser;
(ii)    the Subscription Amount;
(iii)    a fully completed and duly executed Accredited Investor Questionnaire, satisfactory to the Company, and Book-Entry Questionnaire in the forms attached hereto as Exhibits C-1 and C-2, respectively, which Accredited Investor Questionnaire and Book-Entry Questionnaire must be received by the Company no later than 3:00 p.m., Eastern time, on the Business Day immediately prior to the Closing Date.
ARTICLE III.
REPRESENTATIONS AND WARRANTIES
3.1    Representations and Warranties of the Company. Except as disclosed in the SEC Reports, the Company hereby represents and warrants as of the date hereof and the Closing Date (except for the representations and warranties that speak as of a specific date, which shall be made as of such date), to the Purchaser:
(a)    Subsidiaries. The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 except for subsidiaries that in the aggregate would not constitute a “significant subsidiary” (as defined in Rule 405 under the Securities Act). The Company’s wholly-owned subsidiary, AIS Operating Co., Inc., is a “significant subsidiary” (as defined in Rule 405 under the Securities Act). 
(b)    Organization and Qualification. The Company and each of its Subsidiaries have been duly organized, are validly existing as corporations or limited liability entities and are in good standing under the laws of their respective jurisdictions of organization, except where the failure to be so duly organized, validly existing and in good standing would not reasonably be expected to have a Material Adverse Effect. The Company and each of its Subsidiaries are, and will be, duly licensed or qualified as a foreign corporation for the transaction of business and in good standing under the laws of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have all corporate power and authority necessary to own or hold their respective properties and to conduct their respective businesses as described in the SEC Reports, except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be expected to have a material adverse effect on or affecting the assets, business, operations, earnings, properties, condition (financial or otherwise), prospects, stockholders’ equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent or materially interfere with the consummation of the transactions contemplated hereby (a “Material Adverse Effect”); provided, however, that any of the following, either alone or in combination, shall not be deemed a Material Adverse Effect: (i) effects caused by changes or circumstances affecting general market conditions in the U.S. economy or which are generally applicable to the industry in which the Company operates, provided that such effects are not borne disproportionately by the Company, (ii) effects resulting from or relating to the announcement or disclosure of the sale of the Shares or other transactions contemplated hereby, or (iii) effects caused by any event, 
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occurrence or condition resulting from or relating to the taking of any action in accordance with this Agreement.
(c)    Authorization. The Company has all requisite corporate power and authority to execute, deliver and perform its obligations contemplated by this Agreement. This Agreement has been duly and validly authorized, executed and delivered by the Company.
(d)    No Conflicts. The issue and sale of the Shares, the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, impose any lien, charge or encumbrance upon any property or assets of the Company and its Subsidiaries, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement, license, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of its Subsidiaries is subject; (ii) result in any violation of the provisions of the certificate of incorporation, charter or bylaws (or similar organizational documents) of the Company or any of its Subsidiaries; or (iii) result in any violation of any statute or any judgment, order, decree, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its Subsidiaries or any of their properties or assets, except, with respect to clauses (i) and (iii), for such conflicts, breaches, violations, liens, charges, encumbrances or defaults that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
(e)    Filings, Consents and Approvals. No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental agency or body having jurisdiction over the Company or any of its Subsidiaries or any of their respective properties or assets is required for the issue and sale of the Shares, the execution, delivery and performance by the Company of this Agreement, the consummation of the transactions contemplated hereby, except for (i) such consents, approvals, authorizations, orders, filings, registrations or qualifications as may be required under the Exchange Act, (ii) filings required by applicable state or foreign securities laws, (iii) the filing of any requisite notices and/or application(s) to the Principal Trading Market for the issuance and sale of the Shares and the listing of the Shares for trading or quotation, as the case may be, thereon in the time and manner required thereby, and (iv) those that have been made or obtained prior to the date of this Agreement (collectively, the “Required Approvals”).
(f)    Issuance of the Shares. The Shares have been duly authorized and, when issued and paid for in accordance with the terms of this Agreement, will be duly authorized and validly issued, fully paid and nonassessable and free and clear of all liens, other than restrictions on transfer provided for herein or imposed by applicable securities laws, and shall not be subject to preemptive or similar rights. Assuming the accuracy of the representations and warranties of the Purchaser in this Agreement, the Shares will be issued in compliance with all applicable federal and state securities laws. 
(g)    Capitalization. The authorized capital of the Company consists of 200,000,000 shares of Common Stock, 30,468,159 shares of which are issued and 29,217,692 shares of which are outstanding as of September 30, 2021, and 10,000,000 shares of preferred stock, par value $0.001 per share, none of which are currently issued and outstanding as of September 30, 2021. Under the Company’s Plans (as defined below) (i) options to acquire 5,692,264 shares of Common Stock have been granted and are currently outstanding as of September 30, 2021, (ii) no restricted shares of Common Stock have been granted and are currently outstanding as of September 30, 2021, (iii) zero shares of Common Stock have been reserved for issuance as of September 30, 2021 upon the settlement of outstanding restricted stock units granted under the Company’s Plans, (iv) 652,074 shares of Common Stock remain available for future issuance as of September 30, 2021 to directors, executive officers, employees and consultants of the Company pursuant to the Company’s 2018 Equity Incentive Plan, as amended, (the “2018 Plan”), and (v) 45,211 shares of Common Stock have been reserved for issuance as of September 30, 2021 under the Company’s Employee Stock Purchase Plan. Since September 30, 2021 and except as disclosed in the SEC Reports, the Company has not issued any equity securities, other than those issued pursuant to the 2018 Plan and any of the Company’s other equity incentive plans disclosed in the SEC Reports (including employee stock purchase plans and any inducement equity plans or awards established in compliance with Nasdaq Marketplace Rules) (collectively, together with the 2018 Plan, the “Plans”). The Company has outstanding warrants to purchase 8,851,116 shares of Common Stock as of September 30, 2021 (the “Outstanding 
6

Warrants”). Except as set forth in the Company SEC Reports, and other than the shares of Common Stock reserved for issuance under the 2018 Plan and the Outstanding Warrants, there are no outstanding options, rights (including conversion or preemptive rights and rights of first refusal), proxy or shareholder agreements, or agreements of any kind for the purchase or acquisition from the Company of any of its securities. The Company has an authorized capitalization as set forth in the SEC Reports, and all of the issued shares of the Company have been duly authorized and validly issued, are fully paid and non-assessable, conform in all material respects to the description thereof contained in the SEC Reports and were not issued in violation of any preemptive right, resale right, right of first refusal or similar right. All of the Company’s options, warrants and other rights to purchase or exchange any securities for shares of the Company’s capital stock have been duly authorized and validly issued, and conform in all material respects to the description thereof contained in the SEC Reports. All of the issued shares of capital stock or other ownership interests of each Subsidiary of the Company have been duly authorized and validly issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims, except for such liens, encumbrances, equities or claims as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Person is entitled to preemptive rights, rights of first refusal, rights of participation or similar rights with respect to any securities of the Company, including with respect to the issuance of Shares contemplated hereby. Except as set forth in the Company SEC Documents, there are no voting agreements, registration rights agreements or other agreements of any kind between the Company and any other Person relating to the securities of the Company, including the Shares.
(h)    SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by it under the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension, except where the failure to file on a timely basis would not have or reasonably be expected to result in a Material Adverse Effect (including, for this purpose only, any failure that would prevent the Purchaser from using Rule 144 to resell any Shares). As of their respective filing dates, or to the extent corrected by a subsequent restatement, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act.
(i)    Financial Statements. The historical financial statements (including the related notes and supporting schedules) included in the SEC Reports comply as to form in all material respects with the requirements of Regulation S-X under the Securities Act (“Regulation S-X”) and present fairly, in all material respects, the financial condition, results of operations and cash flows of the entities purported to be shown thereby at the dates and for the periods indicated and have been prepared in conformity with GAAP applied on a consistent basis throughout the periods involved. All disclosures contained in the SEC Reports regarding “non-GAAP financial measures” (as defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and Item 10 of Regulation S-K of the Securities Act, to the extent applicable. There are no financial statements (historical or pro forma) that are required to be included in the SEC Reports that are not so included as required. The interactive data in eXtensible Business Reporting Language (“XBRL”) included or incorporated by reference in the SEC Reports fairly present the information called for in all material respects and have been prepared in accordance with the Commission’s rules and guidelines applicable thereto.
(j)    Material Changes. Except as would not, in the aggregate, reasonably be expected to have a Material Adverse Effect, since the date of the latest audited financial statements included in the SEC Reports, and, except as disclosed in a subsequent SEC Report filed prior to the date hereof, neither the Company nor any of its Subsidiaries has (i) sustained any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, (ii) issued or granted any securities (other than pursuant to employee benefit plans, qualified stock option plans or other equity compensation plans or arrangements existing on the date hereof and disclosed in the SEC Reports), (iii) incurred any material liability or obligation, direct or 
7

contingent, other than liabilities and obligations that were incurred in the ordinary course of business, (iv) entered into any material transaction not in the ordinary course of business, or (v) declared or paid any dividend on its share capital; and since such date, except as disclosed in the SEC Reports, there has not been any change in the share capital, long-term debt, net current assets or short-term debt of the Company or any of its Subsidiaries or any adverse change, or any development involving a prospective adverse change, in or affecting the condition (financial or otherwise), prospects, results of operations, stockholders’ equity, properties, management or business of the Company and its Subsidiaries taken as a whole.
(k)    Litigation. Except as disclosed in the SEC Reports, there are no legal or governmental proceedings pending to which the Company or any of its Subsidiaries is a party or of which any property or assets of the Company or any of its Subsidiaries is the subject that, if determined adversely to the Company, would, in the aggregate, reasonably be expected to have a Material Adverse Effect or would, in the aggregate, reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of the transactions contemplated hereby; and to the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or others.
(l)    No Labor Dispute; Compliance with Labor Laws. No labor disturbance by or dispute with the employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is imminent that could reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of or has received written notice of any violation with respect to any federal or state law relating to discrimination in the hiring, promotion or pay of employees, nor any applicable federal or state wage and hour laws, nor any state law precluding the denial of credit due to the neighborhood in which a property is situated, the violation of any of which could reasonably be expected to have a Material Adverse Effect.
(m)    No Default. Except as disclosed in the SEC Reports, neither the Company nor any of its Subsidiaries (i) is in violation of its certificate of incorporation, charter or bylaws (or similar organizational documents), (ii) is in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant, condition or other obligation contained in any indenture, mortgage, deed of trust, loan agreement, license or other agreement or instrument to which it is a party, by which it is bound or to which any of its properties or assets is subject, (iii) is in violation of any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over it or its property or assets or (iv) has failed to obtain any license, permit, certificate, franchise or other governmental authorization or permit necessary to the ownership of its property or to the conduct of its business, except in the case of clauses (ii) and (iii), to the extent any such conflict, breach, violation or default would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
(n)    Regulatory Permits. The Company and its Subsidiaries possess all material certificates, authorizations, clearances, approvals, registrations, exemptions, licenses or permits required by state, federal or foreign regulatory agencies or bodies to conduct their respective businesses as currently conducted and as described in the SEC Reports (“Permits”), and all such Permits are valid, current and in full force and effect, except where the failure to so possess or be valid, current and in full force and effect would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of, or in default under, any of the Permits or has received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such certificate, authorization or permit. Neither the Company nor any of its Subsidiaries has received any notice of proceedings relating to the revocation or modification of any Permits which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to result in a Material Adverse Effect. The Company has not received any written notice denying, revoking or modifying any “approved enterprise,” “benefited enterprise” or “preferred enterprise” status with respect to any of the Company’s facilities or operations.
(o)    Title to Assets. The Company and each of its Subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to all personal property owned by them, that are material to the business of the Company, in each case free and clear of all liens, encumbrances and defects, except for such liens, encumbrances and defects as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries. All assets held under lease by the Company and its Subsidiaries, that are 
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material to the business of the Company, are held by them under valid, subsisting and enforceable leases, with such exceptions as do not materially interfere with the use made and proposed to be made of such assets by the Company and its Subsidiaries.
(p)    Patents and Trademarks. To the knowledge of the Company, the Company and its Subsidiaries own or possess the valid right to use all (i) patents, patent applications, trademarks, trademark registrations, service marks, service mark registrations, internet domain name registrations, copyrights, copyright registrations, licenses and trade secret rights (collectively, “Intellectual Property Rights”) and (ii) inventions, software, works of authorships, trademarks, service marks, trade names, databases, formulae, know how, Internet domain names and other intellectual property (including trade secrets and other unpatented and/or unpatentable proprietary confidential information, systems, or procedures) (collectively, “Intellectual Property Assets”) necessary to conduct their respective businesses as currently conducted, and as proposed to be conducted and described in the SEC Reports. The Company and its subsidiaries have not received written notice of any challenge, which is still pending, by any other person to the rights of the Company and its Subsidiaries with respect to any Intellectual Property Rights or Intellectual Property Assets owned or used by the Company or its Subsidiaries, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the knowledge of the Company, the Company and its Subsidiaries’ respective businesses as now conducted do not give rise to any material infringement of, any material misappropriation of, or other material violation of, any valid and enforceable Intellectual Property Rights of any other person. To the knowledge of the Company, all licenses for the use of the Intellectual Property Rights described in the SEC Reports are valid, binding upon and enforceable by or against the parties thereto in accordance with their terms. The Company has complied in all material respects with, and is not in breach nor has received any asserted or threatened claim of material breach of any Intellectual Property license, and the Company has no knowledge of any material breach by any other person to any Intellectual Property license to which the Company is a party. No claim has been made, and is currently pending, against the Company alleging the infringement by the Company of any patent, trademark, service mark, trade name, copyright, trade secret, license in or other Intellectual Property Right or franchise right of any person, and, to the knowledge of the Company, there are no facts that would form a reasonable basis for such claim, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company has taken all reasonable steps to protect, maintain and safeguard its Intellectual Property Rights, including the execution of appropriate nondisclosure and confidentiality agreements. The consummation of the transactions contemplated hereby will not result in the loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any other person in respect of, the Company’s right to own, use, or hold for use any of the Intellectual Property Rights as owned, used or held for use in the conduct of the business as currently conducted. To the knowledge of the Company, no employee of Legacy Alpine and, since July 24, 2017, no employee of the Company is in, or has ever been, in violation in any material respect of any term of any employment contract, patent disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement, non-disclosure agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee’s employment with the Company, or actions undertaken by the employee while employed with the Company. For purposes of this section, “Legacy Alpine” means Alpine Immune Sciences, Inc., which was the surviving entity following its merger with a wholly-owned subsidiary of Nivalis Therapeutics, Inc. on July 24, 2017 and renamed as AIS Operating Co., Inc.
(q)    Insurance. Except as would not reasonably be expected to have a Material Adverse Effect, the Company and each of its Subsidiaries maintain insurance from nationally recognized, in the applicable country, insurers in such amounts and covering such risks as is commercially reasonable in accordance with customary practices for companies engaged in similar businesses and similar industries for the conduct of their respective businesses and the value of their respective properties and as is customary for companies engaged in similar businesses in similar industries. All insurance policies of the Company and its Subsidiaries are in full force and effect; the Company and each of its Subsidiaries are in compliance with the terms of such policies in all material respects; neither the Company nor any of its Subsidiaries has received notice from any insurer or agent of such insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such insurance; there are no material claims by the Company or any of its Subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause; and neither the Company nor any such Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not reasonably be expected to have a Material Adverse Effect.
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(r)    Transactions With Affiliates and Employees. No relationship, direct or indirect, exists between or among the Company, on the one hand, and the directors, officers, stockholders, customers or suppliers of the Company, on the other hand, that is required to be described in the SEC Reports that is not so described.
(s)    Internal Accounting Controls. The Company and each of its Subsidiaries maintain internal accounting controls designed to provide reasonable assurances regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP, including, but not limited to, internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization, (ii) transactions are recorded as necessary to permit preparation of the Company’s financial statements in conformity with GAAP and to maintain accountability for its assets, (iii) access to the Company’s assets is permitted only in accordance with management’s general or specific authorization, (iv) the recorded accountability for the Company’s assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences, and (v) the interactive data in XBRL included or incorporated by reference in the SEC Reports fairly present the information called for in all material respects and are prepared in accordance with the Commission’s rules and guidelines applicable thereto (it being understood that this subsection shall not to require the Company to comply with Section 404 of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated thereunder (collectively, the “Sarbanes-Oxley Act”) as of an earlier date than it would otherwise be required to so comply under applicable law). Except as disclosed in the SEC Reports, as of the date of the most recent balance sheet of the Company and its consolidated subsidiaries audited by Ernst & Young LLP, there were no material weaknesses in the Company’s internal controls.
(t)    Sarbanes-Oxley Compliance. There is and has been no failure on the part of the Company or, to the knowledge of the Company, any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act that are applicable to the Company or its directors or officers in their capacities as directors or officers of the Company.
(u)    No Other Brokers. Neither the Company nor any of its Subsidiaries is a party to any contract, agreement or understanding with any person that would give rise to a valid claim against any of them for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Shares.
(v)    Private Placement. Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2 of this Agreement and the accuracy of the information disclosed in the Accredited Investor Questionnaire provided by the Purchaser, no registration under the Securities Act is required for the offer and sale of the Shares by the Company to the Purchaser hereunder. Assuming the making and the obtaining of the Required Approvals, the issuance and sale of the Shares hereunder does not contravene the rules and regulations of the Trading Market.
(w)    Investment Company     The Company is not, and will not be, after giving effect to the offer and sale of the Shares and the application of the proceeds therefrom as described in Section 4.6, (i) required to register as an “investment company” (within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company Act”)) or (ii) a “business development company” (as defined in Section 2(a)(48) of the Investment Company Act).
(x)    Registration Rights.  Except as disclosed in the SEC Reports, there are no contracts, agreements or understandings between the Company and any person granting such person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the Company owned or to be owned by such person. 
(y)    Exchange Act Registration and Listing of the Common Stock. The Company’s Common Stock is registered pursuant to Section 12(b) of the Exchange Act and listed on the Principal Trading Market; the Company has taken no action designed to, or reasonably likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common Stock from the Principal Trading Market, nor has the Company received any notification that the Commission or FINRA is contemplating terminating such registration or listing. 
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(z)    Application of Takeover Protections; Rights Agreements. The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s charter documents or the laws of its state of incorporation that is or could reasonably be expected to become applicable to the Purchaser as a result of the Purchaser and the Company fulfilling their obligations or exercising their rights hereunder, including, without limitation, the Company’s issuance of the Shares and the Purchaser’s ownership of the Shares.
(aa)    No Integrated Offering. Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2, none of the Company, its Subsidiaries nor, to the knowledge of the Company, any of its Affiliates or any Person acting on its behalf has, directly or indirectly, at any time within the past six (6) months, made any offers or sales of any Company security or solicited any offers to buy any security under circumstances that would (i) eliminate the availability of the exemption from registration under the Securities Act in connection with the offer and sale by the Company of the Shares as contemplated hereby or (ii) cause the offering of the Shares pursuant to this Agreement to be integrated with prior offerings by the Company for purposes of any applicable law, regulation or stockholder approval provisions, including, without limitation, under the rules and regulations of any Trading Market on which any of the securities of the Company are listed or designated.
(bb)    Tax Matters. The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns required to be filed through the date hereof, subject to permitted extensions (except where the failure to file would not individually or in the aggregate, reasonably be expected to have a Material Adverse Effect), and have paid all taxes due (except where the failure to pay would not individually or in the aggregate, reasonably be expected to have a Material Adverse Effect), and no tax deficiency has been determined adversely to the Company or any of its Subsidiaries, nor does the Company have any knowledge of any tax deficiencies that have been, or would reasonably be expected to be asserted against the Company, that would, in the aggregate, reasonably be expected to have a Material Adverse Effect.
(cc)    Environmental Matters. Except as disclosed in the SEC Reports, the Company and each of its Subsidiaries (i) are, and at all times since January 1, 2015 were, in compliance with all laws, regulations, ordinances, rules, orders, judgments, decrees, permits or other legal requirements of any governmental authority, including without limitation any international, foreign, national, state, provincial, regional, or local authority, relating to pollution, the protection of human health or safety, the environment, or natural resources, or to use, handling, storage, manufacturing, transportation, treatment, discharge, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”) applicable to such entity, which compliance includes, without limitation, obtaining, maintaining and complying with all permits and authorizations and approvals required by Environmental Laws to conduct their respective businesses, and (ii) have not received written notice or otherwise have knowledge of any actual or alleged violation of Environmental Laws, or of any actual or potential liability for or other obligation concerning the presence, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except in the case of clause (i) or (ii) where such non-compliance, violation, liability or other obligation would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as described in the SEC Reports, (x) there are no proceedings that are pending, or to the Company’s knowledge, threatened, against the Company or any of its Subsidiaries under Environmental Laws in which a governmental authority is also a party, other than such proceedings regarding which it is reasonably believed no monetary sanctions of $100,000 or more will be imposed, (y) the Company and its Subsidiaries are not aware of any issues regarding compliance with Environmental Laws, including any pending or proposed Environmental Laws, or liabilities or other obligations under Environmental Laws or concerning hazardous or toxic substances or wastes, pollutants or contaminants, that could reasonably be expected to have a material effect on the capital expenditures, earnings or competitive position of the Company and its Subsidiaries and (z) none of the Company and its Subsidiaries anticipates material capital expenditures relating to Environmental Laws.
(dd)    No General Solicitation. The Company has not offered or sold any of the Shares by any form of general solicitation or general advertising.
(ee)    Foreign Corrupt Practices Act. Neither the Company nor any of its Subsidiaries, nor, to the knowledge of the Company, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or any of its Subsidiaries, has: (i) used any corporate funds for any unlawful 
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contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, the Organization for Economic Co-operation and Development Convention on Bribery of Foreign Public Officials in International Business Transactions, and the rules and regulations thereunder and any other similar foreign or domestic law or regulation; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment. The Company has instituted and maintains policies and procedures designed to ensure continued compliance with the laws and regulations referenced in clause (iii) of this paragraph.
(ff)    Off Balance Sheet Arrangements. There are no transactions, arrangements or other relationships between and/or among the Company, and/or, to the knowledge of the Company, any of its Affiliates and any unconsolidated entity, including, but not limited to, any structural finance, special purpose or limited purpose entity (each, an “Off-Balance Sheet Transaction”) that could reasonably be expected to materially affect the Company’s liquidity or the availability of or requirements for its capital resources, including those Off-Balance Sheet Transactions described in the Commission’s Statement about Management’s Discussion and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), and are required to be described in the SEC Reports, which have not been described as required.
(gg)    Acknowledgment Regarding Purchaser’s Purchase of the Shares. The Company acknowledges and agrees that the Purchaser is acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that Purchaser is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any advice given by Purchaser or any of its respective representatives or agents in connection with this Agreement and the transactions contemplated hereby is merely incidental to the Purchaser’s purchase of the Shares. The Company further represents to the Purchaser that the Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives. 
(hh)    Regulation M Compliance. The Company and its controlled affiliates have not taken, directly or indirectly, any action designed to or that has constituted or that could reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company in connection with the offering of the Shares. 
(ii)    PFIC. Subject to the qualifications and assumptions set forth in the SEC Reports, the Company is not, and upon the sale of the Shares contemplated hereby does not expect to become, a “passive foreign investment company” (as defined in Section 1297 of the Internal Code Revenue Code of 1986, as amended, and the regulations promulgated thereunder).
(jj)    OFAC. Neither the Company nor any of its Subsidiaries nor, to the knowledge of the Company, any director, officer, agent, employee or controlled affiliate of the Company or any of its Subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering of the Shares, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.
(kk)    Compliance with Healthcare Laws and Regulations. The Company and, to the knowledge of the Company, its directors, officers, employees, and agents (while acting in such capacity) are, and at all times prior to the date hereof have been, in compliance with, all health care laws and regulations applicable to the Company or any of its product candidates or activities, including development and testing of pharmaceutical products, kickbacks, recordkeeping, documentation requirements, the hiring of employees (to the extent governed by Health Care Laws, as defined below), quality, safety, privacy, security, licensure, accreditation or any other aspect of developing and testing health care or pharmaceutical products (collectively, “Health Care Laws”), except where such noncompliance would not, individually or in the aggregate, have a Material Adverse Effect. The Company has not received any notification, correspondence or any other written or oral communication, including notification of any pending or threatened claim, suit, 
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proceeding, hearing, enforcement, investigation, arbitration or other action from any governmental authority, including, without limitation, the U.S. Food and Drug Administration (“FDA”), the U.S. Drug Enforcement Administration, the Centers for Medicare & Medicaid Services and the U.S. Department of Health and Human Services Office of Inspector General, of potential or actual non-compliance by, or liability of, the Company under any Health Care Laws. To the Company’s knowledge, there are no facts or circumstances that would reasonably be expected to give rise to liability of the Company under any Health Care Laws, except that would not individually or in the aggregate have a Material Adverse Effect.
(ll)    Shell Company. The Company is not an “ineligible issuer” (as defined in Rule 405 promulgated under the Securities Act).
(mm)    No Additional Agreements. Other than the License and Collaboration Agreement, the Company does not have any agreement or understanding with the Purchaser with respect to the transactions contemplated hereby other than as specified herein or, except as disclosed to the Purchaser in writing, any written agreement regarding the confidentiality and use of confidential information.
(nn)    Clinical Trials. The clinical and pre-clinical trials conducted by or on behalf of or sponsored by the Company, or in which the Company has participated, that are described in the SEC Reports or the results of which are referred to in the SEC Reports, were and, if still pending, are being conducted in accordance with standard medical and scientific research procedures and all applicable statutes, rules and regulations of the FDA and comparable drug regulatory agencies outside of the United States to which they are subject (collectively, the “Regulatory Authorities”), including, without limitation, 21 C.F.R. Parts 50, 54, 56, 58 and 312, and current Good Clinical Practices and Good Laboratory Practices; the descriptions in the SEC Reports of the results of such studies and trials are accurate and complete and fairly present the data derived from such trials; the Company has no knowledge of any other trials the results of which are inconsistent with or otherwise call into question the results described or referred to in the SEC Reports; the Company and its Subsidiaries have each operated and are currently in compliance with all applicable statutes, rules and regulations of the Regulatory Authorities, except where such noncompliance would not, individually or in the aggregate, have a Material Adverse Effect; and neither the Company, nor any of its Subsidiaries, has received any written notices, correspondence or other communication from the Regulatory Authorities or any governmental authority which threatens the termination or suspension of any clinical or pre-clinical trials that are described in the SEC Reports or the results of which are referred to in the SEC Reports, and there are no reasonable grounds for same.
(oo)    Anti-Money Laundering Compliance. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any applicable related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.
(pp)    Compliance with Applicable Laws and Regulations. Except as disclosed in the SEC Reports, the Company and its Subsidiaries: (i) are and at all times have been in compliance with all statutes, rules and regulations applicable to the ownership, testing, development, manufacture, packaging, processing, use, distribution, marketing, advertising, labeling, promotion, sale, offer for sale, storage, import, export or disposal of any product manufactured or distributed by the Company including, without limitation the Federal Food, Drug and Cosmetic Act (21 U.S.C. §301 et seq.), the Public Health Service Act (42 U.S.C. §201 et seq.), the federal Anti-Kickback Statute (42 U.S.C. §1320a-7b(b)), the civil False Claims Act (31 U.S.C. §3729 et seq.), the administrative False Claims Law (42 U.S.C. §1320a-7b(a)), the federal Physician Payment Sunshine Act (42 U.S.C. §1320a-7h), the Civil Monetary Penalties Law (42 U.S.C. §1320a-7a), the exclusion laws (42 U.S.C. §1320a-7), all criminal laws relating to health care fraud and abuse, including, but not limited to, 18 U.S.C. §286-287, the criminal health care fraud provisions of the Health Insurance Portability and Accountability Act of 1996 (18 U.S.C. §1035 and 1347) (“HIPAA”), Medicare (Title XVIII of the Social Security Act), Medicaid (Title XIX of the Social Security Act), HIPAA, as amended by the Health Information Technology for Economic and Clinical Health Act of 2009, and the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Affordability Reconciliation 
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Act of 2010, the regulations promulgated pursuant to such laws, and any successor government programs and comparable state laws, regulations relating to Good Clinical Practices and Good Laboratory Practices, collection and reporting requirements and the processing of any applicable rebate, chargeback or adjustment, under applicable rules and regulations relating to the Medicaid Drug Rebate Program (42 U.S.C. §1396r-8), any state supplemental rebate program, Medicare average sales price reporting (42 U.S.C. §1395w-3a), the Public Health Service Act (42 U.S.C. §256b), the VA Federal Supply Schedule (38 U.S.C. §8126) or under any state pharmaceutical assistance program or U.S. Department of Veterans Affairs agreement, and any successor government programs, and all other local, state, federal, national, supranational and foreign laws, manual provisions, policies and administrative guidance relating to the regulation of the Company (collectively, the “Applicable Laws”), except where such noncompliance would not, individually or in the aggregate, have a Material Adverse Effect; (ii) have not received any written notice from any court or arbitrator or governmental or regulatory authority or third party alleging or asserting noncompliance with any Applicable Laws or any Permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”); (iii) possess all Authorizations and such Authorizations are valid and in full force and effect and are not in violation of any term of any such Authorizations; (iv) have not received written notice of any claim, action, suit, proceeding, hearing, enforcement, investigation arbitration or other action from any court or arbitrator or governmental or regulatory authority or third party alleging that any product operation or activity is in violation of any Applicable Laws or Authorizations nor is any such claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action threatened; (v) have not received any written or, to the Company’s knowledge, oral notice that any court or arbitrator or governmental or regulatory authority has taken, is taking or intends to take, action to limit, suspend, materially modify or revoke any Authorizations nor is any such limitation, suspension, modification or revocation threatened; (vi) have filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments were complete and accurate in all material respects on the date filed (or were corrected or supplemented by a subsequent submission); and (vii) are not a party to and have no ongoing reporting obligations pursuant to any corporate integrity agreements, monitoring agreements, consent decrees, settlement orders or similar agreements with or imposed by any governmental or regulatory authority. Neither the Company, any of its Subsidiaries nor any of its or their respective officers, directors, employees or, to the Company’s knowledge of the Company, agents, has been excluded, suspended or debarred from or otherwise ineligible for participation in any U.S. federal health care program or human clinical research or, to the knowledge of the Company, is subject to a governmental inquiry, investigation, proceeding or other similar action that could reasonably be expected to result in debarment, suspension, ineligibility or exclusion.
(qq)    Absence of Settlement Agreements or Undertakings. Except as disclosed in the SEC Reports, the Company is not a party to any corporate integrity agreements, monitoring agreements, consent decrees, settlement orders, or similar agreements with or imposed by any governmental authority.
(rr)    Material Contracts. There are no contracts or other documents required to be described in the SEC Reports or filed as exhibits to the SEC Reports pursuant to Item 601 of Regulation S-K that are not described and filed as required. The statements made in the SEC Reports, insofar as they purport to constitute summaries of the terms of the contracts and other documents described and filed pursuant to Item 601 of Regulation S-K, constitute accurate summaries of the terms of such contracts and documents in all material respects. Except as disclosed in the SEC Reports, neither the Company nor any of its Subsidiaries has knowledge that any other party to any such contract or other document filed pursuant to Item 601 of Regulation S-K has any intention not to render full performance as contemplated by the terms thereof.
(ss)    Disclosure Controls. The Company and each of its Subsidiaries maintain disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) designed to ensure that the information required to be disclosed by the Company and its Subsidiaries in the reports they file or submit under the Exchange Act is accumulated and communicated to management of the Company and its Subsidiaries, including their respective principal executive officers and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure to be made, and such disclosure controls and procedures are effective in all material respects to perform the functions for which they were established.
(tt)    Defense Production Act of 1950. The Company does not engage in the design, fabrication, development, testing, production or manufacture of critical technologies within the meaning of 
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the Defense Production Act of 1950, as amended, including all implementing regulations thereof and has no current intention of engaging in such activities in the future.
(uu)    No “Bad Actor” Disqualification. The Company has exercised reasonable care, in accordance with SEC rules and guidance, to determine whether any Covered Person (as defined below) is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act (“Disqualification Events”). To the Company’s knowledge, no Covered Person is subject to a Disqualification Event, except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has complied, to the extent applicable, with any disclosure obligations under Rule 506(e) under the Securities Act. “Covered Persons” are those persons specified in Rule 506(d)(1) under the Securities Act, including the Company; any predecessor or affiliate of the Company; any director, executive officer, other officer participating in the offering, general partner or managing member of the Company; any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power; any promoter (as defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of the sale of the Shares; and any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of the Shares (a “Solicitor”), any general partner or managing member of any Solicitor, and any director, executive officer or other officer participating in the offering of any Solicitor or general partner or managing member of any Solicitor.
3.2    Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows:
(a)    Organization; Authority. The Purchaser is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with the requisite corporate, limited liability company or partnership power and authority to enter into and to consummate the transactions contemplated hereby and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement by the Purchaser and performance by the Purchaser of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate or, if the Purchaser is not a corporation, such partnership, limited liability company or other applicable like action, on the part of the Purchaser. This Agreement has been duly executed by the Purchaser, and when delivered by the Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.
(b)    No Conflicts. The execution, delivery and performance by the Purchaser of this Agreement and the consummation by the Purchaser of the transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of the Purchaser, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Purchaser is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to the Purchaser, except in the case of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Purchaser to perform its obligations hereunder.
(c)    Investment Intent. The Purchaser understands that the Shares are “restricted securities” and have not been registered under the Securities Act or any applicable state securities law and that Purchaser is acquiring the Shares as principal for its own account and not with a view to, or for distributing or reselling such Shares or any part thereof in violation of the Securities Act or any applicable state securities laws, provided, however, that by making the representations, warranties and covenants of the Purchaser in this Agreement, except as set forth in Section 4.1(b), the Purchaser is not agreeing to hold any of the Shares for any minimum period of time and may, subject to the provisions of this Agreement, sell or otherwise dispose of all or any part of the Shares pursuant to an effective registration statement under the Securities Act or under an exemption from such registration and in compliance with applicable federal and state securities laws. The Purchaser is acquiring the Shares hereunder in the ordinary course of its business. The Purchaser does not presently have any agreement, plan or understanding, directly or indirectly, with any 
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Person to distribute or effect any distribution of any of the Shares (or any securities which are derivatives thereof) to or through any person or entity; the Purchaser is not a registered broker-dealer under Section 15 of the Exchange Act or an entity engaged in a business that would require it to be so registered as a broker-dealer.
(d)    Purchaser Status. At the time the Purchaser was offered the Shares, it was, and at the date hereof it is an “accredited investor” as defined in Rule 501(a) under the Securities Act.
(e)    General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general advertisement.
(f)    Experience of the Purchaser. The Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment.
(g)    Acknowledgment of Risks.
(i)    The Purchaser acknowledges and understands that its investment in the Shares involves a significant degree of risk, including, without limitation: (i) the Company remains a development stage business with limited operating history and requires substantial funds in addition to the proceeds from the sale of the Shares; (ii) an investment in the Company is speculative, and only one who can afford the loss of their entire investment should consider investing in the Company and the Shares; (iii) the Purchaser may not be able to liquidate its investment; (iv) transferability of the Shares is extremely limited; (v) in the event of a disposition of the Shares, the Purchaser could sustain the loss of its entire investment; and (vi) the Company has not paid any dividends on its Common Stock since inception and does not anticipate the payment of dividends in the foreseeable future. Such risks are more fully set forth in the public filings made by the Company with the Commission;
(ii)    The Purchaser is able to bear the economic risk of holding the Shares for an indefinite period, and has knowledge and experience in financial and business matters such that it is capable of evaluating the risks of the investment in the Shares; and
(iii)    The Purchaser has, in connection with the Purchaser’s decision to purchase Shares, not relied upon any representations or other information (whether oral or written) other than as set forth in the representations and warranties of the Company contained herein, and the Purchaser has, with respect to all matters relating to this Agreement and the offer and sale of the Shares, relied solely upon the advice of the Purchaser’s own counsel and has not relied upon or consulted any counsel to the Company.
(h)    Access to Information. The Purchaser acknowledges that it has had the opportunity to review the SEC Reports and has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Shares and the merits and risks of investing in the Shares; (ii) access to information about the Company and the Subsidiaries and their respective financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment. Neither such inquiries nor any other investigation conducted by or on behalf of the Purchaser or its representatives or counsel shall modify, amend or affect the Purchaser’s right to rely on the truth, accuracy and completeness of the SEC Reports and the Company’s representations and warranties contained in this Agreement. The Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make an informed decision with respect to its acquisition of the Shares.
(i)    Certain Trading Activities. Other than with respect to the transactions contemplated herein, since the time that the Purchaser was first contacted by the Company or any other Person regarding 
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the transactions contemplated hereby, neither the Purchaser nor any Affiliate of the Purchaser which (x) had knowledge of the transactions contemplated hereby, (y) has or shares discretion relating to the Purchaser’s investments or trading or information concerning the Purchaser’s investments, including in respect of the Shares, and (z) is subject to the Purchaser’s review or input concerning such Affiliate’s investments or trading (each a “Trading Affiliate”) has directly or indirectly, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser or Trading Affiliate, effected or agreed to effect any purchases or sales of the securities of the Company (including, without limitation, any Short Sales involving the Company’s securities). The Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). 
(j)    Brokers and Finders. No Person will have, as a result of the transactions contemplated by this Agreement, any valid right, interest or claim against or upon the Company or the Purchaser for any commission, fee or other compensation pursuant to any agreement, arrangement or understanding entered into by or on behalf of the Purchaser.
(k)    Independent Investment Decision. The Purchaser has independently evaluated the merits of its decision to purchase Shares pursuant hereto, and the Purchaser confirms that it has not relied on the advice of any other Purchaser’s business and/or legal counsel in making such decision. The Purchaser understands that nothing in this Agreement or any other materials presented by or on behalf of the Company to the Purchaser in connection with the purchase of the Shares constitutes legal, tax or investment advice. The Purchaser has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its purchase of the Shares. 
(l)    Reliance on Exemptions. The Purchaser understands that the Shares being offered and sold to it in reliance on specific exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and the Purchaser’s compliance with, the representations, warranties, agreements, acknowledgements and understandings of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the Shares.
(m)    No Governmental Review. The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation or endorsement of the Shares or the fairness or suitability of the investment in the Shares nor have such authorities passed upon or endorsed the merits of the offering of the Shares.
(n)    Regulation M. The Purchaser is aware that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of Common Stock and other activities with respect to the Common Stock by the Purchaser.
(o)    Beneficial Ownership. The purchase of the Shares by the Purchaser at the Closing will not result in the Purchaser (individually or together with any other Person with whom the Purchaser has identified, or will have identified, itself as part of a “group” in a public filing made with the Commission involving the Company’s securities) (when added to any other securities of the Company that it or they then own or have the right to acquire) acquiring, or obtaining the right to acquire, in excess of the Threshold Amount on a post transaction basis that assumes that such Closing shall have occurred. The Purchaser does not presently intend to, alone or together with others, make a public filing with the Commission to disclose that it has (or that it together with such other Persons have) acquired, or obtained the right to acquire, as a result of such Closing (when added to any other securities of the Company that it or they then own or have the right to acquire), in excess of the Threshold Amount on a post transaction basis that assumes that each Closing shall have occurred.
(p)    Residency. The Purchaser’s residence (if an individual) or offices in which its investment decision with respect to the Shares was made (if an entity) are located at the address immediately below the Purchaser’s name on its signature page hereto.
(q)    Anti-Money Laundering Laws. The Purchaser represents and warrants to, and covenants with, the Company that: (i) the Purchaser is in compliance with the regulations administered by the U.S. Department of the Treasury (“Treasury”) Office of Foreign Assets Control; (ii) the Purchaser, its 
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parents, subsidiaries, affiliated companies, officers, directors and partners, and to the Purchaser’s knowledge, its stockholders, owners, employees, and agents, are not on the List of Specially Designated Nationals and Blocked Persons maintained by Treasury and have not been designated by Treasury as a financial institution of primary money laundering concern subject to special measures under Section 311 of the USA PATRIOT Act, Pub. L. 107-56; (iii) to the Purchaser’s knowledge, the funds to be used to acquire the Shares are not derived from activities that contravene applicable anti-money laundering laws and regulations; (iv) the Purchaser is in compliance with all other applicable anti money laundering laws and regulations and has implemented anti money laundering procedures that comply with applicable anti-money laundering laws and regulations, including, as applicable, the requirements of the Bank Secrecy Act, as amended by the USA PATRIOT Act, Pub. L. 107 56; and (v) to the best of its knowledge (A) none of the funds to be provided by the Purchaser are being tendered on behalf of a person or entity who has not been identified to the Purchaser, and (B) upon the reasonable request of the Company, the Purchaser agrees to re-certify in writing the representations, warranties and covenants provided in this paragraph.
(r)    No “Bad Actor” Disqualification Events. Neither (i) the Purchaser, (ii) any of its directors, executive officers, other officers that may serve as a director or officer of any company in which it invests, general partners or managing members, nor (iii) any beneficial owner of the Company’s voting equity securities (in accordance with Rule 506(d) of the Securities Act) held by the Purchaser is subject to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Securities Act and disclosed reasonably in advance of the Closing in writing in reasonable detail to the Company.
(s)    Representations by Non-United States Persons. If Purchaser is not a United States person, the Purchaser hereby represents that the Purchaser has satisfied the laws of the Purchaser’s jurisdiction in connection with any invitation to subscribe for the Shares or any use of this Agreement, including (i) the legal requirements within the Purchaser’s jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions applicable to such purchase, (iii) any governmental or other consents that may need to be obtained and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Shares. The Purchaser’s subscription and payment for, and the Purchaser’s continued beneficial ownership of, the Shares will not violate any applicable securities or other laws of the Purchaser’s jurisdiction. 
The Company and the Purchaser each acknowledge and agree that no party to this Agreement has made or makes any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Article III.
ARTICLE IV.
OTHER AGREEMENTS OF THE PARTIES
4.1    Transfer Restrictions.
(a)    Compliance with Laws. Notwithstanding any other provision of this Article IV, the Purchaser covenants that the Shares may be disposed of only pursuant to an effective registration statement under, and in compliance with the requirements of, the Securities Act, or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and in compliance with any applicable state and federal securities laws. In connection with any transfer of the Shares other than (i) pursuant to an effective registration statement, (ii) to the Company, (iii) pursuant to Rule 144 (provided that the Purchaser provides the Company with reasonable assurances (in the form of seller and, if applicable, broker representation letters) that the securities may be sold pursuant to such rule) or (iv) in connection with a bona fide pledge as contemplated in Section 4.1(d), the Company may require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Shares under the Securities Act or applicable state securities law. As a condition of transfer (other than a transfer pursuant to clauses (i), (ii), (iii) or (iv) above and otherwise made in compliance with the terms of this Agreement), any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under this Agreement with respect to such transferred Shares.
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(b)    Restricted Period. During the period beginning from the date of this Agreement and continuing to and including the date six months after the date of this Agreement (the “Restricted Period”), the Purchaser shall not, and shall cause its Affiliates not to, without the prior consent of the Company, directly or indirectly, transfer (i) the Shares, (ii) any securities issued in respect of the Shares as a result of any stock split, stock dividend, share exchange, merger, consolidation or similar recapitalization, or (iii) any securities issued as (or issuable upon the exercise of any warrant, right or other security that is issued as) a dividend or other distribution with respect to, or in exchange or in replacement of, the Shares. Notwithstanding the foregoing, this Section 4.1(b) shall not apply to (i) the transfer of the Shares to Affiliates of the Purchaser, (ii) the transfer of the Shares pursuant to a bona fide third party tender offer, merger, consolidation or other similar transaction that is approved by the Board of Directors of the Company, made to all holders of Common Stock involving a Change of Control (as defined below), provided that in the event that the tender offer, merger, consolidation or other such transaction is not completed, the Common Stock owned by the Purchaser shall remain subject to the restrictions contained in this Agreement or (iii) the pledge of, or grant of a security interest in, the Shares in connection with any loan or financing arrangement secured by all or substantially all of Purchaser’s assets, including, without limitation, Purchaser’s existing credit agreement. For purposes of this Section 4.1(b), “Change of Control” shall mean the transfer (whether by tender offer, merger, consolidation or other similar transaction), in one transaction or a series of related transactions, to a person or group of affiliated persons, of the Company’s voting securities if, after such transfer, such person or group of affiliated persons would hold more than 50% of the outstanding voting securities of the Company (or the surviving entity).
(c)    Sale Volume Limitation.  Following the expiration of the Restricted Period, without the prior approval of the Company, the Purchaser shall not offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale or, or otherwise dispose of or transfer during any calendar month greater than twenty percent (20.0%) of the aggregate number of Shares held by the Purchaser or its Affiliates as of the last day of the Restricted Period.
(d)    Legends.  Any certificates or book-entry notations shall bear any legend as required by the “blue sky” laws of any state and a restrictive legend in substantially the following form, until such time as they are not required under Section 4.1(e):
THE OFFER AND SALE OF THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, ASSIGNED OR OTHERWISE DISPOSED OF (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A LOAN OR FINANCING ARRANGEMENT SECURED BY ALL OR SUBSTANTIALLY ALL OF THE HOLDER’S ASSETS; PROVIDED THAT IN CONNECTION WITH ANY FORECLOSURE OR TRANSFER OF THE SECURITIES, THE TRANSFEROR SHALL COMPLY WITH THE PROVISIONS HEREIN AND IN THE STOCK PURCHASE AGREEMENT, AND UPON FORECLOSURE OR TRANSFER OF THE SECURITIES, SUCH FORECLOSING PERSON OR TRANSFEREE SHALL COMPLY WITH ALL PROVISIONS CONTAINED HEREIN AND IN THE STOCK PURCHASE AGREEMENT.
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The Company acknowledges and agrees that Purchaser may from time to time pledge, and/or grant a security interest in, some or all of the legended Shares in accordance with applicable securities laws, pursuant to a loan or financing arrangement secured by all or substantially all of Purchaser’s assets, including, without limitation, Purchaser’s existing credit agreement. Such a pledge would not be subject to approval or consent of the Company and no legal opinion of legal counsel to the pledgee, secured party or pledgor shall be required in connection with the pledge, but such legal opinion shall be required in connection with a subsequent transfer or foreclosure following default by the Purchaser of the pledge. No notice shall be required of such pledge, but Purchaser shall promptly notify the Company of any such subsequent transfer or foreclosure. The Purchaser acknowledges that the Company shall not be responsible for any pledges relating to, or the grant of any security interest in, any of the Shares or for any agreement, understanding or arrangement between the Purchaser and its pledgee or secured party. At the Purchaser’s expense, the Company will execute and deliver such reasonable documentation as the Purchaser may reasonably request in connection with a pledge or transfer of the Shares. The Purchaser acknowledges and agrees that, except as otherwise provided in Section 4.1(e), any Shares subject to a pledge or security interest as contemplated by this Section 4.1(d) shall continue to bear the legend set forth in this Section 4.1(d) and be subject to the restrictions on transfer set forth in Section 4.1.
(e)    Removal of Legends. 
(i)    The Company agrees that at such time as any legend is no longer required under this Article IV, it will, no later than two (2) Business Days following the delivery by the Purchaser to the Company or the Company’s transfer agent of a request to remove such legend, together with such representations and covenants of the Purchaser or the Purchaser’s executing broker as the Company may reasonably require in connection therewith, deliver or cause to be delivered to the Purchaser a book entry position representing such shares that is free from any such legend.  The Company shall not make any notation on its records or give instructions to any transfer agent of the Company that enlarge the restrictions on transfer set forth in this Article IV.  Any certificates for Shares subject to legend removal shall be transmitted by the transfer agent of the Company to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company (“DTC”).  All costs and expenses related to the removal of the legends and the reissuance of any Shares shall be borne by the Company. 
(ii)    The restrictive legend set forth in Section 4.1(d) above shall be removed and the Company shall issue a certificate or book entry position without such restrictive legend or any other restrictive legend to the holder of the applicable shares upon which it is stamped or issue to such holder by electronic delivery with the applicable balance account at DTC or in physical certificated shares, if appropriate, if (i) such Shares are sold or transferred pursuant to Rule 144 (if the transferor is not an affiliate of the Company); or (ii) such Shares are eligible for sale without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions.  Subject to receipt of such representations, and covenants as are contemplated hereby, at such time as Rule 144 becomes available for the resale of the Shares, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to the Shares and without volume or manner-of-sale restrictions, the Company shall issue to the Company’s transfer agent the instructions with respect to legend removal consistent with this Article IV.  Any fees (with respect to the transfer agent, the Company’s counsel or otherwise) associated with the issuance of such opinion or the removal of such legend shall be borne by the Company.
(f)    Acknowledgement. The Purchaser acknowledges its primary responsibilities under the Securities Act and accordingly will not sell or otherwise transfer the Shares or any interest therein without complying with the requirements of the Securities Act. Both the Company and its Transfer Agent, and their respective directors, officers, employees and agents, may rely on this Section 4.1(f) and the Purchaser will indemnify and hold harmless each of such persons from any breaches or violations of this Section 4.1(f).
4.2    Furnishing of Information. In order to enable the Purchaser to sell the Shares under Rule 144, for a period of eighteen (18) months from the Closing, the Company shall use its commercially reasonable efforts to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act. During such eighteen (18) month period, if the Company is not required to file reports pursuant to the 
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Exchange Act, it will prepare and furnish to the Purchaser and make publicly available in accordance with Rule 144(c) such information as is required for the Purchaser to sell the Shares under Rule 144.
4.3    Integration. The Company shall not, and shall use its commercially reasonable efforts to ensure that no Affiliate of the Company shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that will be integrated with the offer or sale of the Shares in a manner that would require the registration under the Securities Act of the sale of the Shares to the Purchaser, or that will be integrated with the offer or sale of the Shares for purposes of the rules and regulations of any Trading Market such that it would require stockholder approval prior to the closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent transaction.
4.4    Stockholder Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person, that the Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by the Company, or that the Purchaser could be deemed to trigger the provisions of any such plan or arrangement, in either case solely by virtue of receiving Shares hereunder or under any other written agreement between the Company and the Purchaser; provided, however, that the Purchaser does not own any equity in the Company prior to its purchase of the Shares hereunder.
4.5    Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by the License and Collaboration Agreement and this Agreement and the performance by the parties of their obligations thereunder, or as expressly required by any applicable securities law, the Company covenants and agrees that neither it, nor any other Person acting on its behalf, will provide the Purchaser or its agents or counsel with any information regarding the Company that the Company believes constitutes material non-public information regarding the Company or its Subsidiaries without the express written consent of the Purchaser, unless prior thereto the Purchaser shall have executed a written agreement regarding the confidentiality and use of such information. The Company understands and confirms that the Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.
4.6    Use of Proceeds. The Company shall use the net proceeds from the sale of the Shares hereunder for working capital and general corporate purposes and shall not use such proceeds for the redemption of any Common Stock or Common Stock Equivalents. 
4.7    Indemnification. Subject to the provisions of this Section 4.7, the Company will indemnify and hold Purchaser and its directors, officers, stockholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, stockholders, agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or (b) any action instituted against Purchaser in any capacity, or its respective Affiliates, by any stockholder of the Company who is not an Affiliate of Purchaser, with respect to any of the transactions contemplated by this Agreement (unless such action is based upon a breach of Purchaser’s representations, warranties or covenants under this Agreement or any agreements or understandings Purchaser may have with any such stockholder or any violations by the Purchaser of state or federal securities laws or any conduct by the Purchaser which constitutes fraud, gross negligence, willful misconduct, bad faith or malfeasance). Promptly after receipt by any Purchaser Party (the “Indemnified Person”) of notice of any demand, claim or circumstances which could reasonably be expected to give rise to a claim or the commencement of any action, proceeding or investigation in respect of which indemnity may be sought pursuant to this Section 4.7, such Indemnified Person shall promptly notify the Company in writing and the Company shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Person, and shall assume the payment of all fees and expenses; provided, 
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however, that the failure of any Indemnified Person so to notify the Company shall not relieve the Company of its obligations hereunder except to the extent that the Company is actually and materially prejudiced by such failure to notify. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the retention of such counsel; (ii) the Company shall have failed promptly to assume the defense of such proceeding and to employ counsel reasonably satisfactory to such Indemnified Person in such proceeding; or (iii) in the reasonable judgment of counsel to such Indemnified Person, representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them; provided, however, that the Company shall not be responsible for the fees and expenses of more than one counsel for all Indemnified Persons. The Company shall not be liable for any settlement of any action, claim or proceeding effected without its prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. Without the prior written consent of the Indemnified Person, which consent shall not be unreasonably withheld, delayed or conditioned, the Company shall not effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such proceeding.
4.8    Principal Trading Market Listing. In the time and manner required by the Principal Trading Market, the Company shall prepare and file with such Principal Trading Market an additional shares listing application covering all of the Shares and shall use its commercially reasonable efforts to take all steps necessary to cause all of the Shares to be approved for listing on the Principal Trading Market as promptly as possible thereafter.
4.9    Blue Sky. The Company, on or before the Closing Date, shall take such action as the Company shall reasonably determine is necessary in order to obtain an exemption from or to qualify the Shares for sale to the Purchaser under applicable securities or “Blue Sky” laws of the states of the United States (or to obtain an exemption from such qualification).
4.10    Delivery of Shares After Closing. Subject to the satisfaction of the Purchaser’s obligations under this Agreement, the Company shall deliver, or cause to be delivered, a book-entry statement evidencing the Shares within two (2) Trading Days after the Closing Date.
ARTICLE V.
CONDITIONS PRECEDENT TO CLOSING
5.1    Conditions Precedent to the Obligations of the Purchaser to Purchase Shares. The obligation of the Purchaser to acquire Shares at the Closing is subject to the fulfillment to the Purchaser’s satisfaction, on or prior to the Closing Date, of each of the following conditions, any of which may be waived by the Purchaser:
(a)    Representations and Warranties. The representations and warranties of the Company contained herein shall be true and correct in all material respects (except for those representations and warranties which are qualified as to materiality or Material Adverse Effect, in which case such representations and warranties shall be true and correct in all respects) as of the date hereof and as of the Closing Date, as though made on and as of such date, except for such representations and warranties that speak as of a specific date.
(b)    Performance. The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by it at or prior to the Closing.
(c)    No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by this Agreement.
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(d)    Consents. The Company shall have obtained in a timely fashion any and all consents, permits, approvals, registrations and waivers necessary for consummation of the purchase and sale of the Shares (including all Required Approvals), all of which shall be and remain so long as necessary in full force and effect.
(e)    Adverse Changes. Since the date hereof, no event or series of events shall have occurred that has had or would reasonably be expected to have a Material Adverse Effect.
(f)    Listing. The Company shall have made all required submissions to the Nasdaq Stock Market regarding the Shares and shall have not received any notice objecting to the listing of the Shares from the Nasdaq Stock Market.
(g)    No Suspensions of Trading in Common Stock. The Common Stock shall not have been suspended, as of the Closing Date, by the Commission or the Principal Trading Market from trading on the Principal Trading Market nor shall suspension by the Commission or the Principal Trading Market have been threatened, as of the Closing Date, either (A) in writing by the Commission or the Principal Trading Market or (B) by falling below the minimum listing maintenance requirements of the Principal Trading Market.
(h)    Company Deliverables. The Company shall have delivered the Company Deliverables in accordance with Section 2.2(a).
(i)    Compliance Certificate. The Company shall have delivered to the Purchaser a certificate, dated as of the Closing Date and signed by its Chief Executive Officer or its Chief Financial Officer, dated as of the Closing Date, certifying to the fulfillment of the conditions specified in Sections 5.1(a) and (b) in the form attached hereto as Exhibit D.
(j)    Termination. This Agreement shall not have been terminated as to the Purchaser in accordance with Section 6.16 herein.
5.2    Conditions Precedent to the Obligations of the Company to sell the Shares. The Company’s obligation to sell and issue the Shares at the Closing to the Purchaser is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions, any of which may be waived by the Company:
(a)    Representations and Warranties. The representations and warranties made by the Purchaser contained herein shall be true and correct in all material respects (except for those representations and warranties which are qualified as to materiality, in which case such representations and warranties shall be true and correct in all respects) as of the date hereof, and as of the Closing Date as though made on and as of such date, except for representations and warranties that speak as of a specific date.
(b)    Performance. The Purchaser shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the Closing Date.
(c)    No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated by this Agreement.
(d)    Consents. The Company shall have obtained in a timely fashion any and all consents, permits, approvals, registrations and waivers necessary for consummation of the purchase and sale of the Shares (including all Required Approvals), all of which shall be and remain so long as necessary in full force and effect.
(e)    Purchaser Deliverables. The Purchaser shall have delivered its Purchaser Deliverables in accordance with Section 2.2(b).
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(f)    Termination.    This Agreement shall not have been terminated in accordance with Section 6.16 herein.
ARTICLE VI.
MISCELLANEOUS
6.1    Fees and Expenses. The Company and the Purchaser shall each pay the fees and expenses of their respective advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party in connection with the negotiation, preparation, execution, delivery and performance of this Agreement. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in connection with the sale and issuance of the Shares to the Purchaser.
6.2    Entire Agreement. This Agreement, together with the exhibits and schedules thereto, contains the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, discussions and representations, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. At or after the Closing, and without further consideration, the Company and the Purchaser will execute and deliver to the other such further documents as may be reasonably requested in order to give practical effect to the intention of the parties hereunder.
6.3    Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine-generated confirmation of successful transmission) at the facsimile number specified in this Section 6.3 prior to 5:00 P.M., New York City time, on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in this Section 6.3 on a day that is not a Trading Day or later than 5:00 P.M., New York City time, on any Trading Day, (c) the Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service with next day delivery specified, and (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as follows:
If to the Company:    Alpine Immune Sciences, Inc.
188 East Blaine Street, Suite 200
Seattle, WA 98102
Telephone No.: (206) 788-4545
Facsimile No.: (206) 316-8383 (with a copy emailed to legal@alpineimmunesciences.com, which shall not constitute notice)
Attention: Chief Financial Officer
With a copy to (which shall not constitute notice):
Wilson Sonsini Goodrich & Rosati, Professional Corporation
701 Fifth Avenue, Suite 5100
Seattle, WA 98104
Telephone No.: (206) 883-2500
Facsimile No.: (206) 883-2699
Attention: Patrick Schultheis, Michael Nordtvedt and Bryan King
If to the Purchaser:    To the address set forth under the Purchaser’s name on the signature page hereof;
or such other address as may be designated in writing hereafter, in the same manner, by such Person.
6.4    Amendments; Waivers; No Additional Consideration. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed by the Company and the Purchaser. No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a 
24

waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right. 
6.5    Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.
6.6    Successors and Assigns. The provisions of this Agreement shall inure to the benefit of and be binding upon the parties and their successors and permitted assigns. This Agreement, or any rights or obligations hereunder, may not be assigned by the Company or the Purchaser without the prior written consent of the other party, provided that the Purchaser may assign its rights hereunder in whole or in part to any Person to whom the Purchaser assigns or transfers any Shares in compliance with this Agreement and applicable law so long as such transferee shall agree in writing to be bound, with respect to the transferred Shares, by the terms and conditions of this Agreement; and provided further that, for the avoidance of doubt, the foregoing shall not be construed to restrict or limit the Purchaser’s ability to sell, transfer or otherwise dispose of the Shares in accordance with the terms of this Agreement.
6.7    No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except each Purchaser Party is an intended third-party beneficiary of Section 4.7.
6.8    Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective Affiliates, employees or agents) shall be commenced exclusively in the New York Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including, for the avoidance of doubt, with respect to the enforcement of this Agreement), and hereby irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such New York Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
6.9    Survival. Subject to applicable statute of limitations, the representations, warranties, agreements and covenants contained herein shall survive the Closing and the delivery of the Shares.
6.10    Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.
6.11    Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in 
25

any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement.
6.12    Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in this Agreement, whenever the Purchaser exercises a right, election, demand or option hereunder and the Company does not timely perform its related obligations within the periods therein provided, then the Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights, unless such rescission or withdrawal would materially prejudice the Company.
6.13    Replacement of the Shares. If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer Agent of such loss, theft or destruction and the execution by the holder thereof of a customary lost certificate affidavit of that fact and an agreement to indemnify and hold harmless the Company and the Transfer Agent for any losses in connection therewith or, if required by the Transfer Agent, a bond in such form and amount as is required by the Transfer Agent. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof, the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.
6.14    Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the Purchaser and the Company will be entitled to specific performance hereunder. Except as expressly set forth herein, the parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and hereby agree to waive in any action for specific performance of any such obligation (other than in connection with any action for a temporary restraining order) the defense that a remedy at law would be adequate.
6.15    Adjustments in Share Numbers and Prices. In the event of any stock split, subdivision, dividend or distribution to all stockholders of the Company payable in shares of Common Stock (or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly shares of Common Stock), combination or other similar recapitalization or event occurring after the date hereof and prior to the Closing, each reference herein to a number of shares or a price per share shall be deemed to be amended to appropriately account for such event.
6.16    Termination. This Agreement may be terminated and the sale and purchase of the Shares abandoned at any time prior to the Closing by either the Company or the Purchaser upon written notice to the other, if the Closing has not been consummated on or prior to 5:00 P.M., New York City time, on the Outside Date; provided, however, that the right to terminate this Agreement under this Section 6.16 shall not be available to any Person whose failure to comply with its obligations under this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such time. Nothing in this Section 6.16 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement. Upon a termination in accordance with this Section 6.16, the Company and the Purchaser shall not have any further obligation or liability (including arising from such termination) to the other.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, the parties hereto have caused this Stock Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.
ALPINE IMMUNE SCIENCES, INC. 
By:    /s/ Paul Rickey            
    Name: Paul Rickey    
    Title: Senior Vice President and Chief Financial Officer    

    HORIZON THERAPEUTICS IRELAND DAC

    By: /s/ William D. Gannon    
    Name: William D. Gannon
    Title: Director
    Tax ID No.: IE6396554L

Purchaser’s Address for Notice and Delivery: 
70 St. Stephen’s Green
Dublin 2, D02 E2X4, Ireland
Telephone No.: +353 (0) 1 772 2100
Facsimile No.: +353 (0) 1 772 2101
E-mail Address: legal@horizontherapeutics.com
Attention: General Counsel

[Signature Page to Stock Purchase Agreement]

EXHIBITS:

A:    Wire Instructions
B:    Form of Secretary’s Certificate
C-1:     Accredited Investor Questionnaire
C-2:    Book-Entry Questionnaire
D:    Form of Officer’s Certificate

EXHIBIT A
WIRE INSTRUCTIONS

EXHIBIT B
FORM OF SECRETARY’S CERTIFICATE 
The undersigned hereby certifies that he is the duly elected, qualified and acting Secretary of Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), and that as such he is authorized to execute and deliver this certificate in the name and on behalf of the Company and in connection with the Stock Purchase Agreement, dated as of December 15, 2021, by and among the Company and the investor party thereto (the “Stock Purchase Agreement”), and further certifies in his official capacity, in the name and on behalf of the Company, the items set forth below. Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Stock Purchase Agreement.
1.    Attached hereto as Exhibit A is a true, correct and complete copy of the resolutions duly adopted by the Board of Directors of the Company. Such resolutions have not in any way been amended, modified, revoked or rescinded, have been in full force and effect since their adoption to and including the date hereof and are now in full force and effect.
2.    Attached hereto as Exhibit B is a true, correct and complete copy of the Certificate of Incorporation of the Company, together with any and all amendments and certificates of designation thereto currently in effect, and no action has been taken to further amend, modify or repeal such Certificate of Incorporation, the same being in full force and effect in the attached form as of the date hereof.
3.    Attached hereto as Exhibit C is a true, correct and complete copy of the Bylaws of the Company and any and all amendments thereto currently in effect, and no action has been taken to further amend, modify or repeal such Bylaws, the same being in full force and effect in the attached form as of the date hereof.
4.    Each person listed below has been duly elected or appointed to the position(s) indicated opposite his name and is duly authorized to sign the Stock Purchase Agreement on behalf of the Company, and the signature appearing opposite such person’s name below is such person’s genuine signature.

									
	Name	Position	Signature
	Mitchell H. Gold	Chief Executive Officer	_________________________
	Stanford Peng	President and Head of Research and Development	_________________________
	Paul Rickey	Chief Financial Officer	_________________________

2

IN WITNESS WHEREOF, the undersigned has hereunto set his hand as of this ____ day of December 2021.
        
Secretary
I, Mitchell H. Gold, Chief Executive Officer, hereby certify that Paul Rickey is the duly elected, qualified and acting Secretary of the Company and that the signature set forth above is his true signature.
        
Chief Executive Officer

3

EXHIBIT A
Resolutions

4

EXHIBIT B
Certificate of Incorporation

5

EXHIBIT C
Bylaws

6

EXHIBIT C-1
ACCREDITED INVESTOR QUESTIONNAIRE 
(ALL INFORMATION WILL BE TREATED CONFIDENTIALLY)
To:    Alpine Immune Sciences, Inc.
This Investor Questionnaire (“Questionnaire”) must be completed in connection with the offer and sale of the shares of the common stock, par value $0.001 per share (the “Shares”), of Alpine Immune Sciences, Inc., a Delaware corporation (the “Corporation”). The Shares are being offered and sold by the Corporation without registration under the Securities Act of 1933, as amended (the “Act”), and the securities laws of certain states, in reliance on the exemptions contained in Section 4(a)(2) of the Act and in reliance on similar exemptions under applicable state laws. The Corporation must determine that you meet certain suitability requirements before offering or selling Shares to you. The purpose of this Questionnaire is to assure the Corporation that you meet the applicable suitability requirements. The information supplied by you will be used in determining whether you meet such criteria, and reliance upon the private offering exemptions from registration is based in part on the information herein supplied.
This Questionnaire does not constitute an offer to sell or a solicitation of an offer to buy any security. Your answers will be kept strictly confidential. However, by signing this Questionnaire, you will be authorizing the Corporation to provide a completed copy of this Questionnaire to such parties as the Corporation deems appropriate in order to ensure that the offer and sale of the Shares will not result in a violation of the Act or the securities laws of any state and that you otherwise satisfy the suitability standards applicable to purchasers of the Shares. You must answer all applicable questions and complete, date and sign this Questionnaire. Please print or type your responses and attach additional sheets of paper if necessary to complete your answers to any item.
PART A.    BACKGROUND INFORMATION

Name of Beneficial Owner of the Shares:    

Business Address:    
    (Number and Street)
    
(City)    (State)    (Zip Code)

Telephone Number: (___)     

If a corporation, partnership, limited liability company, trust or other entity:
Type of entity:    
State of formation:         Approximate Date of formation:     

Were you formed for the purpose of investing in the securities being offered?

    Yes ____    No ____

If an individual:

Residence Address:    
                (Number and Street)
    
(City)    (State)    (Zip Code)
 
Telephone Number: (___)     

Age: __________    Citizenship: ____________    Where registered to vote: _______________

7

Set forth in the space provided below the state(s), if any, in the United States in which you maintained your residence during the past two years and the dates during which you resided in each state:

Are you a director or executive officer of the Corporation?

    Yes ____    No ____

Social Security or Taxpayer Identification No.    

PART B.    ACCREDITED INVESTOR QUESTIONNAIRE

    In order for the Company to offer and sell the Shares in conformance with state and federal securities laws, the following information must be obtained regarding your investor status. Please initial each category applicable to you as a Purchaser of Shares of the Company. 
__ (1)     A bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan     association or other institution as defined in Section 3(a)(5)(A) of the Securities Act     whether acting in its individual or fiduciary capacity; 

__ (2)     A broker or dealer registered pursuant to Section 15 of the Securities Exchange Act     of 1934; 

__ (3)     An insurance company as defined in Section 2(13) of the Securities Act; 

__ (4)     An investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that Act; 

__ (5)     A Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; 

__ (6)     A plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 

__ (7)     An employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are accredited investors; 

__ (8)     A private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;
 
__ (9)     An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation, Massachusetts or similar business trust, a partnership, or a limited liability company, not formed for the specific purpose of acquiring the Shares, with total assets in excess of $5,000,000; 

__ (10) A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares, whose purchase is directed by a sophisticated person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of investing in the Company;

8

__ (11)     A Rural Business Investment Company as defined in Section 384A of the Consolidated Farm and Rural Development Act; 

__ (12)     An investment advisor registered pursuant to Section 203 of the Investment Advisers Act of 1940 or registered pursuant to the laws of a state;
 
__ (13)     An investment advisor relying on the exemption from registering with the SEC under Section 203(l) or (m) of the Investment Advisors Act of 1940; 

__ (14) An entity, of a type not listed above, not formed for the specific purpose of acquiring the securities offered, owning investments in excess of $5,000,00 (for purposes of this category, “investments” is defined in Rule 2a51-1(b) under the Investment Company Act of 1940);

__ (15)     A “family office,” as defined in Rule 202(a)(11)(G) 1 under the Investment Advisers Act of 1940 (i) with assets under management in excess of $5,000,000; (ii) that is not formed for the specific purpose of acquiring the securities offered; and (iii) whose prospective investment is directed by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment (That person must complete question 5 below in this questionnaire);
 
__ (16)     A “family client,” as defined in Rule 202(a)(11)(G) 1 under the Investment Advisers Act of 1940, of a family office meeting the requirements described in the item above and whose prospective investment in the Company is directed by such family office by a person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment (That person must complete question 5 below in this questionnaire); 

 
___(17)     A natural person whose individual net worth, or joint net worth with that person’s             spouse (in each case, excluding the value of such person’s primary residence), at the time of his purchase exceeds $1,000,000;
    ___(18)     A natural person who had an individual income in excess of $200,000 in each of the two most recent years, or joint income with that person’s spouse in excess of $300,000, in each of those years, and has a reasonable expectation of reaching the same income level in the current year;
___(19)     An executive officer or director of the Company;

___(20) An entity in which all of the equity owners qualify under any of the above subparagraphs. If the undersigned belongs to this investor category only, list the equity owners of the undersigned, and the investor category which each such equity owner satisfies.

A.    FOR EXECUTION BY AN INDIVIDUAL:

            By        
Date
Print Name:        

B.    FOR EXECUTION BY AN ENTITY:

    Entity Name:        

            By            
9

Date
Print Name:        
Title:         

C.    ADDITIONAL SIGNATURES (if required by partnership, corporation or trust document):

Entity Name:        

            By        
Date
Print Name:        
Title:         

Entity Name:        

            By        
Date
Print Name:        
Title:         
10

EXHIBIT C-2
BOOK-ENTRY QUESTIONNAIRE
Pursuant to Section 2.2(b) of the Agreement, please provide us with the following information:
									
	1.	The exact name that the Shares are to be registered in (this is the name that will appear on the book-entry notation(s)). You may use a nominee name if appropriate:	
	2.	The relationship between the Purchaser of the Shares and the Registered Holder listed in response to Item 1 above:	
	3.	The mailing address, telephone and telecopy number of the Registered Holder listed in response to Item 1 above:	
			
			
			
			
	4.	The Tax Identification Number (or, if an individual, the Social Security Number) of the Registered Holder listed in response to Item 1 above:	

EXHIBIT D
FORM OF OFFICER’S CERTIFICATE 
The undersigned, the Chief Executive Officer of Alpine Immune Sciences, Inc., a Delaware corporation (the “Company”), pursuant to Section 5.1(i) of the Stock Purchase Agreement, dated as of December 15, 2021, by and among the Company and the investor signatory thereto (the “Stock Purchase Agreement”), hereby represents, warrants and certifies as follows (capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Stock Purchase Agreement):
1.    The representations and warranties of the Company contained in the Stock Purchase Agreement are true and correct in all material respects (except for those representations and warranties which are qualified as to materiality or Material Adverse Effect, in which case, such representations and warranties shall be true and correct in all respects) as of the date when made and as of the date hereof, as though made on and as of such date, except for such representations and warranties that speak as of a specific date.
2.    The Company has performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Stock Purchase Agreement to be performed, satisfied or complied with by it at or prior to the date hereof.
IN WITNESS WHEREOF, the undersigned has executed this certificate this ___ day of __________, _____.

        
Chief Executive Officer

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